Finance Report for the year ended 31[st] December 2024
The following accounts have been prepared by Quinney’s Accountants and comprise the Independent Examiners Certificate (page 19), the Statement of Financial Activities and Balance Sheet (pages 20 & 21), explanatory notes to these pages (pages 25,26 & 27) and 2 pages showing our Designated and Restricted funds with previous year comparison (pages 28 & 29). I am grateful to Mark Lamb and Quinney’s Accounting firm for their prompt and professional compilation of these papers in readiness for the APCM. The unpublished but available pages 22, 23 and 24 contain all the notes regarding the legal framework upon which the accounts have been produced, which Charity and Finance Acts apply etc…(They have been omitted purely to save paper and are unchanged from the last 2 years sets of accounts)
In general terms looking at page 20 our total Expenditure £120,772 has exceeded our total Income £101,405 by £19,367. However, £16,011 of this was expended from our Designated and Restricted funds for specific and PCC authorised purposes. We also benefitted from a rise in Investment values of £11,054
Looking to the Balance sheet on page 21 you will see our total assets stated at £749,286 of which all but £13,729 is invested either on deposit with CCLA deposit account or with the CBF Church of England Investment fund. Both are performing well returning good levels of Income whilst not exposing our funds to more than a low level of Investment risk.
On a more day to day level, looking to pages 25 and 26 we can compare our 2024 income and expenditure with 2023 and see that our general collections and regular giving and therefore also our gift Aid receipts are broadly comparable to the previous year. We also received a legacy bequest of £5,933 from the Estate of the Late Alan Thompson.
On the Expenditure side (page 26), most of the expense lines are again broadly similar or lower than the previous year. The exceptions being the Parish share which was this year paid in full, utilities which are the gas, electric and water bills at both churches, which are again up but partly offset by a diocesan fuel grant (£950) and the repairs and renewals line of £17,158
These are primarily concerned with the ground maintenance at St Mary’s regarding tree work and architect fees, and St Paul’s ground maintenance and site safety regarding the Coronation hall. (A reminder that the £4670 Restricted fund payment is the grass cutting in St Marys churchyard.)
It is always heartening for a Treasurer to be able to rely on the income streams in order to be able to pay bills as and when they fall due – cashflow is the biggest headache. The generous giving, combined with the rental income from St Paul’s church has always been reliable so a very big thank you to you all. This in turn leads to a nice Gift Aid reclaim from the Government and we are also blessed with good income returns from our Investments thanks to previous generous bequests etc.
You could say we are a wealthy church, but our invested finance can only be spent once so good stewardship should always be being considered. As capital gets spent so our invested income will go down and this will return us to the position of seeing a gap between income and expenditure. There is no simple fix to this other than more people, more giving or less spending. All of these are difficult to address. It is just one of those facts of life where balancing the books is hard. Reporting the facts in comparison is relatively easy.
Andrew Alder Treasurer Hellesdon PCC
THE CHURCH OF ENGLAND Diocese of Norwich
Independent Examiners Certificate
Report to the trustees/members of: Hellesdon PCC On accounts for the year ended: 31 December 2024 Charity number: 1144178
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity’s trustees, 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 Trust’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 which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did 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.
Signed: M Lamb Date: 13 March 2025 Name: M W Lamb FCCA Relevant professional qualification(s) or body (if any): ACCA Address: Saxon House Hellesdon Park Road Drayton High Road Norwich NR6 5DR
19
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted Funds Funds £ £ INCOMING RESOURCES (note 3) Income and endowments from: Donations and legacies 45,668 6,803 Charitable activities 163 - Other trading activities 22,291 - Investments 24,834 1,646 Total 92,956 8,449 RESOURCES EXPENDED (note 4) Expenditure on: Charitable activities 104,761 16,011 Total 104,761 16,011 NET INCOME/(EXPENDITURE) BEFORE INVESTMENT GAINS/(LOSSES) (11,805) (7,562) Net unrealised gains/(losses) on investment 9,453 1,601 Net movement in funds (2,352) (5,961) TRANSFER BETWEEN FUNDS 1,578 (1,578) Net movement in funds after transfers (774) (7,539) RECONCILIATION OF FUNDS Total funds brought forward 497,231 259,722 Total funds carried forward 496,457 252,183 |
2024 Total Funds £ 52,471 163 22,291 26,480 101,405 120,772 120,772 (19,367) 11,054 (8,313) - (8,313) 756,953 748,640 |
2023 Total Funds £ 44,568 566 42,810 22,368 110,312 92,297 92,297 18,015 40,620 (58,635) - (58,635) 698,318 756,953 |
|---|---|---|
20
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 BALANCE SHEET
| Current Assets Debtors Current account Deposit account Fees account Invested funds Total Assets Current Liabilities Creditors Total Liabilities Assets less liabilities General Fund St Paul’s Fabric Designated St Mary’s Insurance Designated St Paul’s Hall Designated St Mary’s Churchyard Restricted St Mary’s Fabric Restricted St Mary’s Webb Bequest Restricted St Mary’s Thompson Bequest Restricted St Paul’s New Build Project Restricted St Paul’s Youth Restricted St Mary’s Churchyard Investment Restricted St Paul’s New Build Project Investment Restricted St Mary’s B Bush Investment Designated (cash) St Mary’s B Bush Investment Designated (invt) St Mary’s (Friends a/c) Restricted for benefit of St Mary’s Church Total Funds |
2024 £ 3,300 6,129 252,390 4,300 483,167 749,286 646 646 748,640 2,767 268 18,182 - 6,859 5,000 13,800 2,300 1,682 140 15,338 45,550 52,717 422,523 161,514 748,640 |
2023 £ 3,471 20,933 258,851 3,550 472,357 759,162 2,209 2,209 756,953 28,090 1,145 - 1,690 1,116 5,000 13,800 2,300 4,776 353 14,995 44,293 53,237 413,069 173,089 756,953 |
|---|---|---|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
A Alder Andrew Alder, Treasurer 13 March 2025
21
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS
The notes of pages 22 to 29 form part of these financial statements
Note 1 Basis of Preparation
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)
the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
General information
The Parochial Church Council of the Ecclesiastical Parish of Hellesdon is a registered charity, number 1144178. Registration took place on 7 October 2011. The registered office for the charity is The Vicarage, Broom Avenue, Hellesdon, Norwich, NR6 6LG. The charity is governed by the Parochial Church Council Powers Measure (1956) as Amended and Church Representation Rules.
Note 2 Accounting Policies
Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
22
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
The notes of pages 22 to 29 form part of these financial statements
Note 2 Accounting Policies - continued
Income - continued
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
23
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
The notes of pages 22 to 29 form part of these financial statements
Note 2 Accounting Policies - continued
Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Fund accounting
Unrestricted funds comprise unrestricted funds that have been set aside by the Members for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
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 costs 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.
Investment income, gains and losses are allocated to the appropriate fund.
24
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
Note 3 Analysis of income
| 2024 Unrestricted Restricted Funds Funds £ £ DONATIONS AND LEGACIES Collections and other giving 37,921 870 Legacies - 5,933 Income tax received 7,747 - Total 45,668 6,803 CHARITABLE ACTIVITIES Charity collections 163 - Total 163 - OTHER TRADING ACTIVITIES Rent 8,732 - Sundry - - Weddings and funerals 12,609 - Insurance claim relating to theft of altar items - - Diocesan fuel grant 950 - Total 22,291 - INCOME FROM INVESTMENTS CBF investment fund 11,466 1,646 Bank interest 13,368 - Total 24,834 1,646 TOTAL INCOME 92,956 8,449 |
Total Funds £ 38,791 5,933 7,747 52,471 163 163 8,732 - 12,609 - 950 22,291 13,112 13,368 26,480 101,405 |
2023 Total Funds £ 36,724 - 7,844 44,568 566 566 8,560 760 8,454 22,786 2,250 42,810 16,381 5,987 22,368 110,312 |
|---|---|---|
25
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
Note 4 Analysis of expenditure
| 2024 Unrestricted Restricted funds funds Parish share 62,498 - Clergy expenses 446 - Parish expenses 3,349 - Upkeep of services 121 - Organist 770 - Youth expenses 213 - Paid to charities 173 - St Mary’s expenses 3,149 - St Paul’s expenses 7,126 - Insurance 3,217 - Utilities 7,541 130 Cleaning 2,160 4,670 Admin/secretarial 4,721 950 Bookkeeping 1,100 - Independent examiner 300 - Postage and stationery 308 - Repairs and renewals 6,897 10,261 Copier rental 672 - 104,761 16,011 |
2023 Total Unrestricted Restricted funds funds funds 62,498 59,267 - 446 774 - 3,349 4,114 - 121 116 - 770 945 - 213 541 - 173 566 - 3,149 4,228 - 7,126 1,547 - 3,217 3,008 - 7,671 5,307 150 6,830 1,680 4,675 5,671 3,039 - 1,100 650 - 300 300 - 308 376 - 17,158 - - 672 1,014 - 120,772 87,472 4,825 |
Total funds 59,267 774 4,114 116 945 541 566 4,228 1,547 3,008 5,457 6,355 3,039 650 300 376 - 1,014 92,297 |
|---|---|---|
Note 5 Details of certain items of expenditure
Wages costs are shown as Admin/secretarial, and no employees earn over £60,000. The average number of staff in the year is 1 (2023: 1).
The independent examiner's remuneration amounts to an independent examiner and accounts preparation fee of £300 (2023: £300).
During the year, Andrew Alder received remuneration of £1,200 in respect of administration services and M Abbott £1,200 in respect of cleaning services. (2023: £650). During the year ended 31 December 2024, no other trustee expenses have been incurred (2023: £NIL).
26
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
| Note 6 Debtors and prepayments Analysis of debtors Other debtors Note 7 Creditors and accruals Due within One Year 2024 £ Other creditors 346 Accruals 300 646 Note 8 Investments and cash at bank Cash at bank and in hand Other investments |
2024 2023 £ £ 3,300 3,471 Amounts due after more than One Year 2023 2024 2023 £ £ £ 1,909 - - 300 - - 2,209 - - 2024 2023 £ £ 262,819 283,334 483,167 472,357 745,986 755,691 |
|---|---|
Note 9 Related party transactions
The Charity has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2024.
27
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
Note 10 Charity funds
| Fund names | Type * |
Fund balances 1 January 2024 £ |
Income £ |
Expenditure £ |
Transfers £ |
Gain in investment value £ |
Fund balances 31 December 2024 £ |
|---|---|---|---|---|---|---|---|
| B Bush (St Mary’s) | UR | 53,237 | - | 520 | - | - | 52,717 |
| B Bush (St Mary’s) | UR | 413,070 | - | - | - | 9,453 | 422,523 |
| St Paul’s Fabric | UR | 1,145 | - | 1,145 | 268 | - | 268 |
| St Mary’s Insurance | UR | - | - | 1,818 | 20,000 | - | 18,182 |
| St Paul’s Hall | UR | 1,690 | - | 3,268 | 1578 | - | - |
| St Mary’s Churchyard | R | 1,116 | 7,219 | 9,176 | 7,700 | - | 6,859 |
| St Mary’s Churchyard | R | 14,994 | - | - | - | 343 | 15,337 |
| St Mary’s Fabric | R | 5,000 | - | - | - | - | 5,000 |
| St Mary’s Webb | R | 13,800 | - | - | - | - | 13,800 |
| St Mary’s Thompson | R | 2,300 | - | - | - | - | 2,300 |
| St Mary’s (Friends A/c) | R | 173,089 | - | 3,875 | (7,700) | - | 161,514 |
| St Paul’s New Building cash | R | 4,776 | 1,230 | 2,745 | (1,578) | - | 1,683 |
| St Paul’s New Building | R | 44,293 | - | - | - | 1,257 | 45,550 |
| St Paul’s Youth | R | 353 | - | 213 | - | - | 140 |
| Total Funds | 728,863 | 8,449 | 22,760 | 20,268 | 11,053 | 745,873 |
-
UR: unrestricted
-
R: restricted
28
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
Note 10 Charity funds - continued
Details of material funds held and movements during the PREVIOUS reporting period to 31 December 2023
| Fund names | Type | Fund balances 1 January 2023 £ |
Income £ |
Expenditure £ |
Transfers £ |
Loss in investment value £ |
Fund balances 31 December 2023 £ |
|---|---|---|---|---|---|---|---|
| B Bush (St Mary’s) | UR | 53,237 | - | - | - | - | 53,237 |
| B Bush (St Mary’s) | UR | 377,548 | - | - | - | 35,522 | 413,070 |
| St Paul’s Fabric | UR | 1,384 | - | 239 | - | - | 1,145 |
| St Paul’s Hall | UR | 1,988 | - | 298 | - | - | 1,690 |
| St Mary’s Churchyard | R | (3,339) | 1,280 | 4,825 | 8,000 | - | 1,116 |
| St Mary’s Churchyard | R | 13,705 | - | - | - | 1,289 | 14,994 |
| St Mary’s Fabric | R | 5,000 | - | - | - | - | 5,000 |
| St Mary’s Webb | R | 13,800 | - | - | - | - | 13,800 |
| St Mary’s Thompson | R | 2,300 | - | - | - | - | 2,300 |
| St Mary’s (Friends A/c) | R | 181,089 | - | - | (8,000) | - | 173,089 |
| St Paul’s New Building cash | R | 2,806 | 1,970 | - | - | - | 4,776 |
| St Paul’s New Building | R | 40,484 | - | - | - | 3,809 | 44,293 |
| St Paul’s Youth | R | 894 | - | - | (541) | - | 353 |
| Total Funds | 690,896 | 3,250 | 5,362 | (541) | 40,620 | 728,863 |
-
UR: unrestricted
-
R: restricted
29
THE CHURCH OF ENGLAND Diocese of Norwich
Independent Examiners Certificate
Report to the trustees/members of: Hellesdon PCC On accounts for the year ended: 31 December 2024 Charity number: 1144178
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity’s trustees, 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 Trust’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 which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did 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.
Signed: M Lamb Date: 13 March 2025 Name: M W Lamb FCCA Relevant professional qualification(s) or body (if any): ACCA Address: Saxon House Hellesdon Park Road Drayton High Road Norwich NR6 5DR
19
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted Funds Funds £ £ INCOMING RESOURCES (note 3) Income and endowments from: Donations and legacies 45,668 6,803 Charitable activities 163 - Other trading activities 22,291 - Investments 24,834 1,646 Total 92,956 8,449 RESOURCES EXPENDED (note 4) Expenditure on: Charitable activities 104,761 16,011 Total 104,761 16,011 NET INCOME/(EXPENDITURE) BEFORE INVESTMENT GAINS/(LOSSES) (11,805) (7,562) Net unrealised gains/(losses) on investment 9,453 1,601 Net movement in funds (2,352) (5,961) TRANSFER BETWEEN FUNDS 1,578 (1,578) Net movement in funds after transfers (774) (7,539) RECONCILIATION OF FUNDS Total funds brought forward 497,231 259,722 Total funds carried forward 496,457 252,183 |
2024 Total Funds £ 52,471 163 22,291 26,480 101,405 120,772 120,772 (19,367) 11,054 (8,313) - (8,313) 756,953 748,640 |
2023 Total Funds £ 44,568 566 42,810 22,368 110,312 92,297 92,297 18,015 40,620 (58,635) - (58,635) 698,318 756,953 |
|---|---|---|
20
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 BALANCE SHEET
| Current Assets Debtors Current account Deposit account Fees account Invested funds Total Assets Current Liabilities Creditors Total Liabilities Assets less liabilities General Fund St Paul’s Fabric Designated St Mary’s Insurance Designated St Paul’s Hall Designated St Mary’s Churchyard Restricted St Mary’s Fabric Restricted St Mary’s Webb Bequest Restricted St Mary’s Thompson Bequest Restricted St Paul’s New Build Project Restricted St Paul’s Youth Restricted St Mary’s Churchyard Investment Restricted St Paul’s New Build Project Investment Restricted St Mary’s B Bush Investment Designated (cash) St Mary’s B Bush Investment Designated (invt) St Mary’s (Friends a/c) Restricted for benefit of St Mary’s Church Total Funds |
2024 £ 3,300 6,129 252,390 4,300 483,167 749,286 646 646 748,640 2,767 268 18,182 - 6,859 5,000 13,800 2,300 1,682 140 15,338 45,550 52,717 422,523 161,514 748,640 |
2023 £ 3,471 20,933 258,851 3,550 472,357 759,162 2,209 2,209 756,953 28,090 1,145 - 1,690 1,116 5,000 13,800 2,300 4,776 353 14,995 44,293 53,237 413,069 173,089 756,953 |
|---|---|---|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
A Alder Andrew Alder, Treasurer 13 March 2025
21
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS
The notes of pages 22 to 29 form part of these financial statements
Note 1 Basis of Preparation
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)
the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
General information
The Parochial Church Council of the Ecclesiastical Parish of Hellesdon is a registered charity, number 1144178. Registration took place on 7 October 2011. The registered office for the charity is The Vicarage, Broom Avenue, Hellesdon, Norwich, NR6 6LG. The charity is governed by the Parochial Church Council Powers Measure (1956) as Amended and Church Representation Rules.
Note 2 Accounting Policies
Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
22
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
The notes of pages 22 to 29 form part of these financial statements
Note 2 Accounting Policies - continued
Income - continued
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
23
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
The notes of pages 22 to 29 form part of these financial statements
Note 2 Accounting Policies - continued
Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Fund accounting
Unrestricted funds comprise unrestricted funds that have been set aside by the Members for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
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 costs 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.
Investment income, gains and losses are allocated to the appropriate fund.
24
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
Note 3 Analysis of income
| 2024 Unrestricted Restricted Funds Funds £ £ DONATIONS AND LEGACIES Collections and other giving 37,921 870 Legacies - 5,933 Income tax received 7,747 - Total 45,668 6,803 CHARITABLE ACTIVITIES Charity collections 163 - Total 163 - OTHER TRADING ACTIVITIES Rent 8,732 - Sundry - - Weddings and funerals 12,609 - Insurance claim relating to theft of altar items - - Diocesan fuel grant 950 - Total 22,291 - INCOME FROM INVESTMENTS CBF investment fund 11,466 1,646 Bank interest 13,368 - Total 24,834 1,646 TOTAL INCOME 92,956 8,449 |
Total Funds £ 38,791 5,933 7,747 52,471 163 163 8,732 - 12,609 - 950 22,291 13,112 13,368 26,480 101,405 |
2023 Total Funds £ 36,724 - 7,844 44,568 566 566 8,560 760 8,454 22,786 2,250 42,810 16,381 5,987 22,368 110,312 |
|---|---|---|
25
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
Note 4 Analysis of expenditure
| 2024 Unrestricted Restricted funds funds Parish share 62,498 - Clergy expenses 446 - Parish expenses 3,349 - Upkeep of services 121 - Organist 770 - Youth expenses 213 - Paid to charities 173 - St Mary’s expenses 3,149 - St Paul’s expenses 7,126 - Insurance 3,217 - Utilities 7,541 130 Cleaning 2,160 4,670 Admin/secretarial 4,721 950 Bookkeeping 1,100 - Independent examiner 300 - Postage and stationery 308 - Repairs and renewals 6,897 10,261 Copier rental 672 - 104,761 16,011 |
2023 Total Unrestricted Restricted funds funds funds 62,498 59,267 - 446 774 - 3,349 4,114 - 121 116 - 770 945 - 213 541 - 173 566 - 3,149 4,228 - 7,126 1,547 - 3,217 3,008 - 7,671 5,307 150 6,830 1,680 4,675 5,671 3,039 - 1,100 650 - 300 300 - 308 376 - 17,158 - - 672 1,014 - 120,772 87,472 4,825 |
Total funds 59,267 774 4,114 116 945 541 566 4,228 1,547 3,008 5,457 6,355 3,039 650 300 376 - 1,014 92,297 |
|---|---|---|
Note 5 Details of certain items of expenditure
Wages costs are shown as Admin/secretarial, and no employees earn over £60,000. The average number of staff in the year is 1 (2023: 1).
The independent examiner's remuneration amounts to an independent examiner and accounts preparation fee of £300 (2023: £300).
During the year, Andrew Alder received remuneration of £1,200 in respect of administration services and M Abbott £1,200 in respect of cleaning services. (2023: £650). During the year ended 31 December 2024, no other trustee expenses have been incurred (2023: £NIL).
26
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
| Note 6 Debtors and prepayments Analysis of debtors Other debtors Note 7 Creditors and accruals Due within One Year 2024 £ Other creditors 346 Accruals 300 646 Note 8 Investments and cash at bank Cash at bank and in hand Other investments |
2024 2023 £ £ 3,300 3,471 Amounts due after more than One Year 2023 2024 2023 £ £ £ 1,909 - - 300 - - 2,209 - - 2024 2023 £ £ 262,819 283,334 483,167 472,357 745,986 755,691 |
|---|---|
Note 9 Related party transactions
The Charity has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2024.
27
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
Note 10 Charity funds
| Fund names | Type * |
Fund balances 1 January 2024 £ |
Income £ |
Expenditure £ |
Transfers £ |
Gain in investment value £ |
Fund balances 31 December 2024 £ |
|---|---|---|---|---|---|---|---|
| B Bush (St Mary’s) | UR | 53,237 | - | 520 | - | - | 52,717 |
| B Bush (St Mary’s) | UR | 413,070 | - | - | - | 9,453 | 422,523 |
| St Paul’s Fabric | UR | 1,145 | - | 1,145 | 268 | - | 268 |
| St Mary’s Insurance | UR | - | - | 1,818 | 20,000 | - | 18,182 |
| St Paul’s Hall | UR | 1,690 | - | 3,268 | 1578 | - | - |
| St Mary’s Churchyard | R | 1,116 | 7,219 | 9,176 | 7,700 | - | 6,859 |
| St Mary’s Churchyard | R | 14,994 | - | - | - | 343 | 15,337 |
| St Mary’s Fabric | R | 5,000 | - | - | - | - | 5,000 |
| St Mary’s Webb | R | 13,800 | - | - | - | - | 13,800 |
| St Mary’s Thompson | R | 2,300 | - | - | - | - | 2,300 |
| St Mary’s (Friends A/c) | R | 173,089 | - | 3,875 | (7,700) | - | 161,514 |
| St Paul’s New Building cash | R | 4,776 | 1,230 | 2,745 | (1,578) | - | 1,683 |
| St Paul’s New Building | R | 44,293 | - | - | - | 1,257 | 45,550 |
| St Paul’s Youth | R | 353 | - | 213 | - | - | 140 |
| Total Funds | 728,863 | 8,449 | 22,760 | 20,268 | 11,053 | 745,873 |
-
UR: unrestricted
-
R: restricted
28
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HELLESDON NORWICH
FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS - continued
Note 10 Charity funds - continued
Details of material funds held and movements during the PREVIOUS reporting period to 31 December 2023
| Fund names | Type | Fund balances 1 January 2023 £ |
Income £ |
Expenditure £ |
Transfers £ |
Loss in investment value £ |
Fund balances 31 December 2023 £ |
|---|---|---|---|---|---|---|---|
| B Bush (St Mary’s) | UR | 53,237 | - | - | - | - | 53,237 |
| B Bush (St Mary’s) | UR | 377,548 | - | - | - | 35,522 | 413,070 |
| St Paul’s Fabric | UR | 1,384 | - | 239 | - | - | 1,145 |
| St Paul’s Hall | UR | 1,988 | - | 298 | - | - | 1,690 |
| St Mary’s Churchyard | R | (3,339) | 1,280 | 4,825 | 8,000 | - | 1,116 |
| St Mary’s Churchyard | R | 13,705 | - | - | - | 1,289 | 14,994 |
| St Mary’s Fabric | R | 5,000 | - | - | - | - | 5,000 |
| St Mary’s Webb | R | 13,800 | - | - | - | - | 13,800 |
| St Mary’s Thompson | R | 2,300 | - | - | - | - | 2,300 |
| St Mary’s (Friends A/c) | R | 181,089 | - | - | (8,000) | - | 173,089 |
| St Paul’s New Building cash | R | 2,806 | 1,970 | - | - | - | 4,776 |
| St Paul’s New Building | R | 40,484 | - | - | - | 3,809 | 44,293 |
| St Paul’s Youth | R | 894 | - | - | (541) | - | 353 |
| Total Funds | 690,896 | 3,250 | 5,362 | (541) | 40,620 | 728,863 |
-
UR: unrestricted
-
R: restricted
29