Charlty numbèr: 1149972 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 WR Partners Protecting your future.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WtrH ST PETER'S SHREWSBURY CONTENTS Page Reference and admlnlstratlve detalls of tha Charlty. It8 Trustees and advlsers Trusteos. report Independent examlnorfs report Statemgnt of financlal actlvltlas 3-20 21-22 23-24 Balance sheel 25-26 Notes to the financlal statements 27-47
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY REFERENCE AND ADMINISTRATNE DETAILS OF THE cHARY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Diana Morgan. Safeguarding Officer Bernice Firmin, Churchwarden Elizabeth Coley, El6cled Member Michael Duckett. Ex Officio Member Martin Riddett, Treasurer Christine Poharyskyi, Elected Member Miles Kenny, Elected Member Rev Pal Aldred, Ex Officio Member Slefan Poharyskyi, Elected Member June Marshall. Deputy Churchwarden, Deanery Synod Rep Sarah Cooper, Elected Member Dr Julia Taor, Elected Member Joan Greatbatch-wood, Electoral Roll Officer Katherine May, Deanery Synod Rep Hannah Smith, Depuly Churchwarden, Deanery Synod Rep Rev Stephanie Fahie, Co-opted Clergy Gill Barrow, Dèanery Synod rep (deceased 26 June 2024) Brian Newman, Churchwarden Charlty règlstered number 1149972 Prlnclpal offlce The Abbey Church Abbey Foregate Shrewsbury SY2 6BS Sècretary Carolyn Mahy Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Page 1
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Bankars Royal Bank of Swlland 36 St Andrew Square Edinburgh EH2 2YB C¢>operative Bank PO Box 101 1 Balloon Street Manchester M60 4EP Investment Mangers Senator House. 85 Queen Victoria Street London EC4V 4ET Page 2
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2024 to 31 December 2024. Objedives and activities Policies and objectives The Parochlal Church Council of Holy Cross Shrewsbury (the PCCI and, during the continuing interregnum, the churchwardens O'ointly} are responsible for promoting the ecclesiastical parish, the whole mission of the church, pasloral, gvangelical, social and ecumenical. The PCC is also spiritually responsible for the maintenance of the church. The PCC is committed lo enabling as many people as possible to worship in our churches and lo become part of our parish community at Holy Cross, Shrewsbury. The PCC maintains an ovetview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship pul faith into practice through prayer, scripture, music and sacrament. Also, through non- sacramental activities of hospilality and fellowship we aim to reach non-churched members of Ihe community. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including tho guidance 'Public benefit: running a charity (PB2)'. The PCC members, as trustees are aware of the Charity Commission's guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard lo it in their administration of the Charity. The trustees believe that, by promoling the work of the Church of England in the Ecclesiastical Parish of The Holy Cross Shrewsbury it helps lo promote the whole mission of the Church Ipasloral, evangelislic, social and ecumenical) more effectively, within the Ecclesiaslical Parish, and that in doing so it provides a benefil to the public by.. Providing facilities for public worship. pastoral care and spiritual. moral and intellectual development, both for its members and for anyone who wishes to benefit from whal the Church offers., and Promoting Christian values and service by members of the Church in and lo their communities, lo the benefit of individuals and society as a whole. The PCC is specifically rosponsible for the maintenance of the Abbey, St Peter's and the parish hall on the St Peter's site. Page 3
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ObJectlv85 and actlvltles (contlnuedl b. Safeguarding SAFEGUARDING REPORT 202415 We are committed lo taking S8feguarding very seriously. This is on the agenda for every PCC me8ting. Our policy is slated on our Website and is regularly reviewed and updated. The parish complies with all safeguarding policies and procedures as deemed necessary by the Church of England. We review our own parish policy each yaar to ènsure we are fully up to dale with any now directive5. Safeguarding is everyone's business and we have a duty of care to all. All PCC members, paid staff and some volunteers who must have a DBS check have completed their applications and are now cleared. The PCC look the decision that all PCC members should undertake BasiG and Foundation Safeguarding training. recommended that volunteers would also find the Iraining helpful. We continue to adhere to the Church of England policies and guideline pertaining to Safeguarding issues. l am in the process of updating DBS Disclosures as they come up for renewal. The Safeguarding incidents during the last year have decreased but Lichfield continue to inform me if there are concerns about people who may be in our area and likely to visit our churches. 11 is important we that we all continue to be vigilanl in order to eliminate any risk to children and vulnerable people. Safeguarding is everyone's business. The Church of England is concerned about the increased level of domestic abuse and has developed training in this area. It is now accessible for people to access online via the Lichfield training portal. It is hoped that in the future, this training will be available face to face. Volunteers in key areas are encouraged to take up the training as 500n as they are able. Diana Morgan Safeguarding Officer Page 4
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance a. Parlsh Actlvlties The Parish has conducted another busy and full calendar year despite entering into the third y8ar of vacancy. Congregations continue lo grow and there is an overall increase on footfall across both churches. Activities include but are not restricted to: St Petels Coffee and Chat Exèrcise together Warm space & Food Hub Toddle in Forget-me-not tea Social events and outings Prayer Group This is not an exhaustlV6 list but shows the breadth of seNices the church is able to provide. There is no decline in the demand for servlces whlch Is only hampered by a scarclty of volunteers and lack of stipendiary leadership. st Petels enjoys good lay leadership and is well co-ordinated with a retired priest, assisted periodically by the Assoclate minister. (For full report se8 below) The Abbe Th8 Abbeys congregatlon continues to grow and enjoys a constant flow of new families and visltors. Congregations over the Christmas period exceeded 1000 people and Easter, likewise, saw a vasl incrèasè of attendance. The choir has mainlained ils membership and increased numbers in some areas despite the challenge of choristers moving away from th8 ar8a. We have been blessed by lunchtime organ recitals which prove ever popular. The Abbey now has a repulation for being Ihe 'go-lo' venue for a number of concerts. This has enabled the Abbey lo reach members of the commLsnity who would not normalty come lo church. This developing ministry will continue to grow and be built upon. There are increasing enquiries for baptisms and weddings from those who have attended an event at th8 Abbèy. The bookshop has now Increased Its stock and Is an attractive addition to the visitor experience. The Abbey utilise5 social media and benefits from a sustained online presence. The Abbey is served by an Associate minister and a number of retired clergy. Volunteers are the key to maintaining and growing the vision at thg Abbey and, as with Sl Petels, this is where the challenge lies The Parish The Parish is likely to split this year with both churches going their own way. Thls will onablo St Peter's and the Abbey to concentrate on their strengths and grow their congregations. This will only be possible with increased volunleers, tsrgeted giving and strong leadership. The current vacancy relies on goodwill from all sides but cannot be maintained indefinitely if burnout is to be avoided. Rev. Patrick Aldred Associate Priest Page 5
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (continued) b. Proceodlngs of the PCC During 2024 the PCC continued to operate with the Sub Committee arrangements introduced in the previous year. The full PCC held 7 meetings with all meetings held in person. During the continuing interregnum the meetings were chaired in rotation by the two Churchwardens. The PCC discussed general matters concerning the management of the churches and the welfare of their parishioners, including safeguarding, mission, review of policies and capital projects. Two issues hava continued to dominala th8 PCC'S discussions over the last two years and into 2025. Pasloral Scheme for the division of the parish inlo two separat6 parishes, namely the Parish of the Holy Cross Shrewsbury {Shrewsbury Abbey) and the Parish of Saint Peter's, Shrewsbury . A draft Pastoral Scheme was prepared by the Diocese of Lichfield in May 2024 and approved by the PCC before being put out for public consultation in the parish. The consultation ended on 8th July 2024. The Scheme was generally approved by those who responded to it with one objection. The Diocese was given permission by the Church Commissioners lo contact the objector directly. Unfortunately there was considerable delay on the part of the Diocese in contacting the objector and in moving matters loard. The PCC expressed their displeasure, exasperation and disappointment when 8 weeks after closure of the public consultstion the objeclor had still not been contacted. As the objection remained the matter was finally considered by the Church Commissioners at a meeting on 27th February 2025. No final decision was made as the Church Commissioners required further information from the Diocese. 11 is hoped that this will move forward and finally be resolved with th8 approval of the Scheme and appointment of 2 new priests lone for each parish} during 2025. These issues ware discussed at each PCC meeting during 2024 and the PCC were kept fully infomied of all developments. b) Financial matters. During 2024 the finances of the parish continued to improve due to increasing income from donors and events and thè hard work of our Treasurer. As a result thè 2023 accounts were able to be lod9ed with the Charities Commission by Ihe end of October 2024 as required. A report on financial matters was provided by the Treasurer to the PCC at each meeting. together with budgets, and questlons were laken and matters discussed. In view of the proposed division of the parish into separate parishes, the PCC discussed the need to dividé the parish assets, particularly several Trust Funds, and which would be difficult and complex and potentially require legal advice. In the absenc8 of an incumbenl, discussions look place between the Churchwdrdens and Deputy Wardens for each of the proposed new parishes with a view to reaching an agreement. A meeting took place with the Bishop of Shrewsbury in June 2024 which was subsequenuy discussed by the PCC which endorsed the recommendation that the diocesan deputy registrar, Stuart Ness, be asked to advise on the maller. The PCC continued lo be updated on developments in this regard during 2024 and into 2025 and the matter is ongoing. Carolyn Mahy PCC Secretary {Appointed from 23 May 2023) Page 6
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and perfomiance (continued) . Fabric Goods and Ornaments ot the Two Chruches Parish of the Holy Cross - Shrewsbury Abbey and St. Peterfs Monkmoor Church Wardens annual report for 2024 Shrewsbu Abbe The Fabric Committee worked hard on a number of projects during the year. Facultl8S Were obtained for upgrading tho Abbey lighting, to include emergency lighting and illurninated exit signs in the èv6nl of a lotal power failure during a service or event, and for the refurbishing of the clergy and choir vestry, with the music library, under the organ. The former project will proceed in 2025- a fund-raising effort will be required for the latter. Tha tower clock has proved to be very erratic during the year. A professional survey has indicated what now needs to be done and once again a fundraising effort will be required. In some of the extremelywet weather we experienced it became Clear that the lead covering on the roof of the tower was not watertight and water ingress was causing the timbers below to become sodden. Repairs were carried out by roofing professionals, but this is unlikely to be other than a temporary solution. The cost of replacing the lead will be considerable and the sltuatlon Is complicated by the heritage value of the existing roof covering, dating from 1644. Further consideration will be given to this in 2025. Insurance funded repairs were carried out to the winding system for the chamber organ, damaged durbng a concert and repairs to the brass eagle lectern which was knocked ov8r. The Abbey received gifts of a thurible stand and sanctuary bells. Boiler controls were improved during the year but further improvements are required in 2025 to improve reliability and cosl-effectiveness. Sl Peter's Church and Church Hall The Church Hall roof was fully insulated. The entire cost was covered by a grant (of which there is still over £1000 in hand as of 31112124 for a future insulation - ecolgreen - project.) The Terrier, Logbook and Inventory for St. Peter'5 and, separately, the Church Hall are fully up to date as at 31 st December 2024 in bolh paper and eloctronic form. Thank yous: The Wardens extend their thanks to Clergy and Laity who have a5SlSted at and enabled all worship and occasional services across the parish during the year, together with thanks to all volunteers at pcc. the officers of the PCC, the Abbey guides and stewards and the range of volunteers at the myriad of events at the Abbey, St Peter's and Hall during the year- Thank you. Brian Newman and Berni Firmin Churchwardens Page 7
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (continued) d. St Peter's Report for the year ended 2024 Report of St Peter's Council (Friends of St Peter's) Church warden Bernice Fimiin,. Dèpuly Ward8n June Marshall The parish of the Holy Cross (Abbey and St Peter's) has been in vacancy since May 2022. A Pastoral Measure seeking lo split the parish has progressed through the various Diocesan Committees and following public consultation passed to the Church Commissioners for approval and completion. This has been much delayad due to issues raised by one objector to the Pastoral Measure. It is hoped that this will result in St Peler's becoming a Parish Church al some point in 2025 and subsequent appoinlment of a Priest. st Peter's Council (formerly the Friend5 of St Peterfs) a subcommittee of the PCC has met 8 times during the year. Worshi With the assistance of Rev Steph Fahie, Rev George Hodkinson, Associate Priest Pat Aldred and our several readers the regular Sunday pattern of worship of Holy Communion at 10.00am excepl on the 4th Sunday each month which is a 10.00am lay led service has been maintained. Other visiling priests have included Bishop Sarah in January, Rev Chris Walker and Rev Richard Hayes The numbers of regular worshippers is growing average Sunday attendance 30 adults. There are a number of congregants who attend regularly with their care supporters including our blind organist Rob Sherratt on the first Sunday each month. Services for Ash Wednesday and Maundy Thursday were held at 7.00pm There was a service for Harvesl Festival followed by a Parish bring and share lunch attended by about thirty people. Al Christmas the usual Carol Service was held followed by Mince pies and mulled wine. Collection being donated to Open Doors with Brother Andrew. This collection was added to the lithe of the end of year balance from the Friends of St Peler's (FOSP) accounts and amounted to £825. Mess Church Messy Church has continued following a pattern from 2023 usually on a Wednesday moming (the Toddle-ln slot) in holiday limes. This takes the form of a selection of themed crafts for parents and children to do followed by a short time of 'worship' in church and then a meal in the hall. It requires a large team of church members to prepare and deliver on the day. During 2024 wa mel 4 limes during.11 is always well received. There were children from one family Baptised in the morning Service during the year. There were three Church Funerals {2 for Church members} and one for a church member at her village church. One memorial Service following private burial. One Crematorium funeral of a regular attendee at Forget me not tea Prayer Group met every Thursday evening and a list of prayer requests was updated weekly. The numbers attending has grown. Horne Groups. 2 Groups were started in October 2023 meeting either on Wednesday evenings or Friday Mornings and reflecling logelher on the previous Sundays readings. Page 8
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES, REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance (contlnued Buildin s and Gardens A'love Sl Peter's Day was held in March and in the Autumn to tidy the Church and work in the garden. The gardens have been well mainlained by Roger Smith as well as volunteers maintaining the flowerbeds and tubs. The Hall roof was insulaled with the help of a grant from National Grid. Mission and Outreach Most of this has taken Pla in the St Peterfs hall. Coffee 'n Chat on Tuesday mornings continued to be a source of Inspiration, friendship and enjoyment to all who attend. Numbers vary between 20-35. Free refreshments continued bul many gave donations from which supplies were bought and a regular contribution towards heating made to the PCC. The second weekly occasion for Coffee 'n Chat on Thursday mornings in the Church has grown in popularity. The hall having a regular booking. On both ¢xcasions there are several adults who receive care being brought by Iheir carers to enjoy the opportunity. Food Hub supplies collected by volunteers were made freely available on both Tuesdays and Thursdays. Food Bank Th8 collection point in Church continued and weekly deliveries to the Food Bank at Barnabas Church were made. Toddl&ln The very popular Toddle-ln Group on Wednesday mornlngs during term-time continued to thrive under the leadership of Vicky Towers and Natasha Prite assisted by a team of church members in the kitchen. Numbers attending have grown lo over 30 children and their carers. Each year sees a turnover as children move on to nursery and school and others join. Wé said farewell to 2 helpers, Ann and Marion who were stalwarts from Ihe start in 20081 Particular thanks to Vicky and Nalasha. For et Me Not Forget Me Not Tea is the response in Holy Cross parish to outreach for carers and in particular lo those caring for those with mernory loss. It takes place on the first Wednesday aftèrnoon of ev6ry month with an informal time of worship followed by a very good tea! The overarching theme for 2024 was Travel wth presentation and participation of attendees. The Annual Dementia Church certificate was renewed again by Bishop Michael and the three actions promised for 2024 which included a Songs of Pralse SeiCe in church for Dementia Awareness week were fulfilled. We have been very pleased to welcome several new people and they have enjoyed the friendship and caring support that this outreach offers. Particular highlights were the teas. In comrnon wilh many church events we rely on a small group of dedicated volunleers who turn up with freshly baked scones and other cakes and sandwiches, lay up, clear down and tidy away. Wilhoul their support this event would be very difficult to Tun in its present format as we regularly get as many as Ihirly pèople attending. Thank you to those helpers for their dedication in continuing our dementia action in this Parish. Page 9
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 AGhievements and performance (continued) Th8 themè set for 2025 is Pastimes and Leisure. Gentle Exercise on Monday mornings in tha Hall started in the Autumn and has attracted betw88n 8 - 12 participants. A kind of 'Tai chi, using a video followed by refreshmentsl Events Other successful events have been held with good attendances and some fund raising including.. A Quiz in February with Cheese and wine Grateful thanks to Roger and Wendy Ford. This was an enjoyable evening event. May Fair on Saturday 20 May was a happy evenl and raised £950 on the day half of which was splil beteen the Shrewsbury Food Hub and the Food Bank. Hats Galore on 11 Oclober was a fun Friday evening event and raised £275 A Christmas Fair on 30 November raised a total of £1063.37. A donation of £465 was given to Shropshire Supports Refugees. A full Christmas Lunch was held on 23rd December in the Hall. Cooking being Caled out in various homes and 46 rneals were served. Costs were subsidised by a grant of £100 from the Burke Bequest. None of the above would be possible without the consistent and much appreciated help and commitment of the many volunteers for which we as a church are extremely grateful. Bemice Firmin, Churchwarden and Rev Stephanie Fahie March 2025 Page 10
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and perfonnance Icontlnued) e. Deanery Synod Report A special Shaping for Mission Oeanery Synod meeting took place on 5 March 2024, attended by our Churchwardens, Rev Steph Fahie and other laypeople. The Shaping for Mission diocesan approach was presented by Rt Rev Sarah Bullock, Bishop of Shrewsbury with facilitated discussion. The parish discussed lh8 Shaping for Mission areas of interest and action priorities at its councils. Given the situation wilhin the parish as regards the parish separation. the PCC councils will hav8 different focuses going fOard yet with some overlapping of key priorities. Our PCC minutes from then giv6s detail. However, in recent years Gill Barrow, Katherine May and Hannah Smith have been the named parish representatives to Deanery Synod. Until her sudden illness and death in May 2024, Gill Barrow undertook to attend the majority of deanery meellngs. Since June 2024 therefore, parish reprasentation Includes June Marshall as well as Hannah and Katherine. In the spring 2024, synod eleclSons took place. The following persons were duly elected to diocesan synod.. John Wardle, Rob Surl, Annette Goodall and lan Peake. Clergy representatives Revd Phil Cansdale, Revd Charlotte Gompertz. Revd Peter Hubbard and Revd Tim Vasby-Burnie. The meeting held in July included two speakers. Firstly, Pioneering Parishes update was pr8senlod by Rev Catherine Matlock who was on a time-limited contract with the Diocese of Li¢hfield. Catherine was Ih&n based in Stoke-on-Trenl. Secondly, Katherine May from the Motherfs Union gave an update on the current work undertaken by Motherfs Union in the deanery, across the diocese, UK and All Ireland and internationally. Deanery members were informed of the RISE Up! campaign against domestic abuse and provided with resources to lake the campaign to their home churches. We were also informed that tha Area Dean Revd Andy Ackroyd was taking up a new appointment in Hereford Diocese based in Telford. Katherine May, Hannah Smith and June Marshall April 2025 Page11
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance {continued) f. Communications and Events Parish of the Holy Cross Review of events and communicalions, 2024 We now have 3 years, experience of running events at the Abbey. These are many and varied. embracing commer, charity and worship. Many customers are well established bul each year we need to find new ones. In a fasl-changing world, the entertainment industry is no éxception. Costs are hi9h, margins are tight, cancellations through poor sales have become more common. We havo lo keep moving to stand slill, such is the cliché, but we must maintain close relations with our customers and foster new ones in order to suslain a good level of business. We have gone from the novelty a few years ago of using the Abbey more, to Events now providing a subslantial and essential part of our income. Of course, Abbey events benefit the whole parish as well as putting us in touch wilh an audience which may not normally come to church or to the Abbey. Recent investm8nts to improve lighting have already been well received by customers and enhanced Holy Week services. The Abbey Is also a safer place now that we have emergency lighting. Prolects in the back office include better event accounting and administration and generally staying ahead of the game. As part of this I have visited and learned much from counterparts at Lichfield Cathedral and Selby Abb8y. On the communications side, everything we do is communication. Apart from worship, prayers, the website and social media, our volunteers play an invaluable role in the way we present ourselves., and our events audiences and customer5 ar8 invariably impressed by the Abbey experience. People are the key. as with life itself. The beauty. history, acoustic and location of the Abbey are all to our great advantage. We can only make the most of what we have. though, by increasingly imaginative thinking and being able to acl and react quickly. The support of our PCC will play an important part in our sustainability and future as a place of both worship and entertainment. Sleve Swinden Parish Adminislralor 26th ApTiI 2025 Page 12
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance lcontlnued) g. Duty to promote Ihe success of the Charity to achleve Ils charitable purposes Fundralslng and Volunteers Th8 Abbe The wardens are extremely appreciative of the time given up by our many volunteers, only a minority of whom are also members of the congregations, who enable us to keep the Abbey open during 365 days a year. A recently initiated rota also now enables the church to remain open between the Sunday services. when we get quite a number of visitors. particularly in the summer months. With the increase in the number of evening bookings at the Abbey for a wide variety of concerts, recitals and gigs, we have called upon more and more volunteers to assist the paid staff in manning these events to whom thanks are due. These events eam a vital part of our income, bringing in. net of all costs including staff costs, over £40,000 in 2024. The four electronic giving ststions have been important in maintaining giving by visitors and pilgrims as we move more and more to a near cashless society. Members of the congregations now have the opportunily of giving alms in cash, at the electronic stations or with the QR code printed on the service sheets by their mobile phones. For those who give by standing order they now have the opportunity of placing a small printed token on the passing alms dish. lest visitors should think that the congregalion do not give anyihing! We anticipate receiving donations in support of the cost of lighting enhancements in the Abbey, for which faculty authority was granted in the year. The Abbey shop is now well established again and is making a useful contribution to our funds, as are bar takings at concerts now that the Abbey is licensed. The members of the PCC would like lo thank all the volunteers who work so hard to make our Church a lively and vibranl community as well as places of welcome for tourists, pilgrims and event attenders. St Pèt8rfs Church and the Church Hall Monkmoor Volunteers have continued to support various Mission activities at the St Peter's site Toddle-ln, Forget me not Tea and Coffee and Chat- which, during 2024 has continued lo run Il¢e a week on Tuesday and Thursday. We thank all volunteers without whom this Mission work would not happen. Risk Mana ement The PCC is aware of its major risks and has a risk-management policy which is reviewed annually. The Risk Management Policy includes a description of the principal risks and uncertainties facing the Charity and ils subsidiary undertaking, as identified by the PCC members, together with a summary of their plans and strategies for managing those risks as well as any factors Ihal are likely to affect the financial performance or posilion going forward. The Abbe Detailed risk assessments were compiled by the wardens. It was fell that these were perhaps too detailed and complex for our needs so in 2025 they will be revisited with a view to simplifytng them. st. P&ler's Monkmoor. st. Petér's has completed the standard CofE Risk Management Protocols as the needs of St. Peter's Church and the Church Hall are relatively simple compared to the Abbey. Page 13
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance (continued) Worship and Services Shrewsbu Abbe In 2024, the average weekly attendance at Sunday services at Shrewsbury Abbeywas 78 adults and 2 children. Attendance at services on Easter Day and vigil service on Easter Eve was 226 (including 138 communicants). Attendance at services during Advent for the congregation and local community was 465 Attendance 81 services for Advent specifically for school and civic organisations was 270 Number of Communicants at any service on Christmas Eve or Chrlstmas Day was 320 Total number (including communicants) attending worship at any service on Christmas Eve or Christmas Day (including Crib and nativity services held on Christmas Eve) was 1190 St. Peter's Church Monkmoor Average weekly attendance at Sunday services at st. Peler's in 2023 was 30 adult5 and 1 child. Altendance at services on Easter Day and vigil service on Easter Eve was 46 (including 42 communicants) Attendance at services during Advent for the congregation and local community was 155 Number of Communicants at any service on Christmas Eve or Christmas Daywas 28 Tot81 number {Includlng communicants) attending worship at any service on Chrlstmas Eve or Christmas Day was 33. Page 14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal revlew a. Golng concern After making appropriate enquiries, the Trustees have a reasonable expectation that tha Charity has adequat8 resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopl the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Tha Parish financial position improved somewhat in 2024. Income increased wh8n compared with 2023. This increase has come from increased giving by parishioners and giving at various special services, recovery of Gift Aid, increased visitor donations enhanced by the purchase of additional electronic donation slations and an increase in the number of events held in the Abbey. The Abbey shop and the bar provided at some events also contributed to the increase in income. Expenditure also increased in 2024 due to increased staff costs, some increased maintenance costs and general cost inflation. The write-off of the remaining Common Fund arrears by the Diocese has improved the balance sheet position, as has Ihe increase in the value of the various trusts. both fixed and current elements. In 2023, an agreement Was reached with Lichfield Diocese to the effect that if the parish contributed £15,000 towards the £45,192 Common Fund arrears from 2022, the Diocese would match the arrears payments on a 2 = 1 basis and write off £30,192 over three years, provided full contributions were paid in 2023, 2024 and 2025. The parish contributed £11,000 towards the arrears in 2024 and Lichfield Diocese has agreed that the parish, which provided full Common fund contributions in 2023 and 2024, does not need lo contribute the remaining £4.000 in 2025. The full amount of the arrears is therefore shown in the 2024 account5 as written off. Connexion Ltd, the wholly owned company which previously ran the Abbey shop, has been closed and de- rogistèred. Thare were no assets distributed back to Ihe Abbey as shareholders. b. Reserves policy It is PCC policy to try to maintain a balance on free reserves for the charity (unrestricted net currenl assets) which equates to at least three months unrestricted payments and one additional month's salary costs circa £5,000. This is equivalent to £61,600 (£51,763 in 2023). It is held lo smooth out fluctuations in cash flow and to meet emergencies. Reserves in 2024 amount to £394,442 (2023.. £355,725} this includes the parish hall at St Peterfs, investments and cAsh £102,000 (2023: £125,537). Free resetves amounted lo -£52,448 {2023'. -£76,266). This is lower than target. However, the PCC hold £4,271 in designated funds which could be transferred should the need arise. The PCC are aware of the position and are doing their utmost to rectify it. It is our policy to invest the investment fund balances with the CCLA Church of England Deposit Fund and the majority of the remainder with the Lichfield Diocesan Board of Finance ILDBF). Page 15
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 c. Material investments policy The charity is granted power lo invest in suitable investments under the PCC Powers Measure 1956 and the Trustees Act 2000. As a chaiity, the Trustees have a duly of care lo lake such advice as is appropriate before investments are undertak8n. This advice is sought from the Central Board of Finance ICCLA) in London. The charitys invastment policies are based on key PTinciples-. - -Ethical Inve5tment- this includes ensuring that investments are held in companies which have high stsndards of corporate governance and act in a responsible way towards stakeholders. -Long-term responsibililies- the trustees are aware of their long-term responsibilities in respect of the Restricled and Unrestricted reseeS and as a result follow a prudent approach lo investment decisions. Investment policy for long-tèrm funds is aimed primarily at generating a sustainable income, with due regard to the need for the preseNation of capital value, and the possible need to realise investments to meet operational needs. The charity does not have a policy of generaling income at excessive or high risk - known as "purchasing income" where high returns are guaranteed at the expense of capital. In summary. the charity has an overall policy to maximise income while presetving the real value of its funds. Due to the nature of the charity, an ethical investment policy is taken into consideration when investments are made: The charity follows the Ethical Investment Advisory policy as recommended by the Lichfield Diocese which includes the following- "We aim lo invest in companies that: will develop their business in the interests of shareholders., demonslrale responsible employment practices. are conscientious conceming issues of corporate governance, the environmenl and human rights. are sensitlve to the community in which they operate.. Planned giving, collections, donations and income from events are the main source5 of fund raising along with tax recoverable. Structure. governance and management Constitution The Parochial Church Council of the Ecclesiaslical Parish of the Holy Cross with St Peter's Shrewsbury is a registered charity. number 1149972, and is constituled under a Trusl deed. Page 16
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management (contlnued) b. Methods of appoinlment or electlon of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Overview The PCC is a Body Corporate estsblished by the Church of England (PCC Powers Measure 1956, and the Church Representation Rules 20221 and is a Charity registered with the Charity Commission {Registration number.. 11499721. The PCC is governed by the Parochial Church Council Powers Measure (19561 as amended that came into effect on 2nd January 1957, and the Church Representation Rules 2022 (as amended). Structure Governance and Mana emenl The PCC is responsible for making decisions on all matters of general concern and importance in the parish, and for all financial matters. Beeen January and December 2024 the PCC mel to discuss with an average of 15 members in attendance. Reports were tabled, discussed and approved by the PCC. The method of appointment of the PCC members is sel out in the Church Representation Rules. The Council comprises the Incumbent (currently in vacancy), the licensed Clergy, Churchwardens, a representative of the Readers, those elected to the Deanery Synod, and other members who are elected at the Annual Parochial Church Meeting by those on the Electoral Roll. PCC members receive training from courses run by the Diocese. Mernbers of the Gongregation are always urged to join the Electoral Roll, and lo stand for eleclion to the PCC. The PCC have put in place Sub-committee arrangements. The PCC'S Standing Committee has met as necessary beeen PCC meetings. The Standing Cornmittee has comprised the associate priest, Churchwardens and the Chairmen of the Abbey and St Peter's Councils as ex- officio membors, and the PCC officers {Treasurer and Secretary). The Abbey Council has met several times, to discuss and agree a range of business matters. particularly the practical and financial arrangements following the proposed split of the parish into the separate Holy Cross (Abbey) and Sl. Peter's parishes. The St Peter's Council has met B times, for the purpose of planning regular action and hospitality at Sl Peter's Church and as a shadow PCC, working through aspects of future governance in readiness for Ihe new independence of St. Peter's parish. Page 17
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS wrfH ST pER's SHREWSBURY TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management (contlnued) PCC members PCC members {each of whom is a trustee of thé ecclesiastical charity of the Patish of the Holy Cross, Shrewsburyl who have served since 1st January 2024 (unless othemse staled) until the date this report was approved were: Ex Officio Members The parish is currently in interregnum, so= Licensed Clergy Rev Patrick Aldred {Associate Priesl) (from 6th September 2022) Reader Mike Duckett Co-opted Clergy Rev Stephanie Fahle Churchwardens From 24 May 2023 the following have served as Churchwardens, sharing the role of lay Vice-chaiman Brian Newman Bemice Firmin Dopuly Churchwardens Hannah Smith June Marshall (from 23 May 2023) (from 23 May 20231 Deanery Synod Reps Gill Barrow Katherine May Hannah Smith June Marshall (deceased June 2024) (elected on 26th June 2024) Elected Members Elizabeth Coley Sarah Cooper Joan Greatbatch-wood (Electoral Roll Officer) Miles Kenny June Marshall Diana Morgan Christine Poharyskyi Slefan PoharyskyT Julia Taylor Anthony Jamieson (from 23 May 2023) (up to 261h June 2024) (Safeguarding Officer) (elected on 26th June 2024 to replace Gill Barrow) Officers Martin Riddett Carolyn Mahy {Treasurer) {co-OPtedl from 6 December 2022 (Secretary) {appoinled) from 23 May 2023 Page 18
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS TH ST PETER'S SHREWSBURY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 structure. governance and management {contlnued) c. Safeguardlng Th8 PCC beli8Ve thèy have fulfilled their duty under section 5 of the Safe9uarding and Clergy Discipline Measure 2016 {duty to have due regard to House of Bishops, guidance on safeguarding children and vuln8rable adults}. AII PCC member6 have completed the required online training modules and are subject to DBS checks. Safeguarding is on the Agenda at every PCC meeting. an update is received froffl our Safeguarding Officér and any issues are discussed. Re rtin Serious Incidents A Serious Incident is an adverse event, ether actual or alleged, whlch results in or risks signtficant harm to the chariws beneficiaries, employees, office holders, volunteers or to others who come into contsct with the charity through its work. loss of the charitys money or assets, damage to the charity's property or harm to the charity's work or reputation. The trustees are not aware of any Serious Incidents in the last year. Pag8 19
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management (continued) Statement of Trustees. responsibilities The Trustees are responsible for preparing th8 Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England & Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the Charity and of ils incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the m8thods and principles of thè Charities SORP IFRS 1021., make judgment5 and accounting e51imates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subj1 to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that Iho Charity wll continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities AGt 2011, the Charity (Accounts and Report5} Regulations 2008 and the provisions of the TrLtsl deed. They are also responsible for safeguarding the assats of the Charity and hence for taking reasonable steps for the prevention and detaction of fraud and other irregularities. Appr by order of the members of the board of Trustees and signed on their behalf by: Brian Newma Churchwarden Berni¢e Firmin Churchwarden in Riddett Treasurer Dalè.. 03. 119. ltsX5 Page 20
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PEfER'S SHREWSBURY INDEPENDENT exAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examlnevs Raport to tha Trustee8 of The Paro¢hlal Church Coun¢ll of the Eccleslastlcal Parlsh of the Holy Cross wlth Sl Peterfs Shrewsbury {Ihe Charltw) I report to the charity Truste8s on my 8xamination of th8 accounts of th8 Charlty for th8 year end8d 31 Dacember 2024. Responslbllltles and Basls of Report As the Trustees of the Charity you are responslble for the preparatlon of the accounts In accordance wlth the requirements of th8 Chariti8s Act 2011 ('th8 2011 ACV). I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and In carrwng out my examination I have followed the appllcable Directlons glven by the Charlty Commlsslon under sectlon 145(5}Ib) of the 2011 Act. Page 21
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY INDEPENDENT EXAMINER'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examiner's Statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of ACCA, which is one of the listed bodias. Your attention is drawn to Ihe fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporknng Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities: Statement of Recommended Pract'ce issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand thal this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no 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 2011 Acl., or the accounts do not accord with those records., or the accounls 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 lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Charitys Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to stale lo them in an Independent examiner's report and for no other purpose. To the fullest extent pemiilled by law. I do not accept or assume responsibility to anyone other than the Charity and the Charitys Trustees as a body, for my work or for this report. Signed= /.1 Dated.. 0911012025 T Lunt BA FCCA MTPI WR Partners Chartered Accountants Belmont House Shrewsbury Buslness Park Shrewsbury Shropshiré SY2 6LG Page 22
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PEfER'S SHREWSBURY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Endowment funds 2024 Restrlcted Unrestricted funds funds 2024 2024 Total funds 2024 Total fvnds 2023 Note Income and endowments from: Donation5 and legacie5 Charitabl8 activities Other trading activities Investments 6,096 139,343 28,854 58,028 4,706 145,439 28,854 58,028 13,544 136,088 8,483 37,885 11,006 4,004 4.834 Total Income and endowments 4.004 10,930 230,931 245.865 193,462 Expenditure on: Raising funds Charilable aclivilies 8,693 191,784 8,693 198.455 4,840 184.446 6.671 Total expenditure 6,671 200,477 207,148 189,286 Net Income Transfers between funds Net movement in funds before other recognised gainsl(lossesl 4,004 4,259 30,454 38,717 4.176 18 (17,234) 110,700 193.466) 113,230) 114,959 {63,012} 38,717 4,176 Other recognlsed gainsl(loss•sl: Gains on revalualion of fixad assels 1,688 Not movoment In funds (13,230) 114,959 (63,012) 38,717 5,864 Page 23
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS wrrH ST PETER'S SHREWSBURY STATEMENT OF FINANCIAL ACTNrfiES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Endowment funds 2024 Restrlcted Unréstrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Reconclllatlon of funds: Total funds brought forward Nel movement in funds 118,353 (13,230) 176,537 114,959 60,835 (63,012) 355,725 38,717 349.861 5.864 Total funds caThled forward 105,123 291,496 (2,177) 394,442 355. 725 The Statement of Financial Activilies includes all gains and losses recognised in the year. The notes on pages 27 to 47 form part of these financial statements. Page 24
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Noto Flxed assets Tangible assets Investments 12 13 46,000 216,673 46.000 211,820 262,673 257,820 Current assets Stocks Debtors Cash al bank and in hand 14 3,870 36.669 102.000 15 11,964 125,537 142.539 137,501 Current Ilabllltles Creditors.. arnounts falling du8 wlthin one year {10,770) (39.596) Net Current assets 131,769 97.905 Total assels less current Ilabllltles 394,442 355. 725 Total net assets 394,442 355, 725 Page 25
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 2024 2023 Noto Charity funds Endowment funds Reslricled funds Unreslricled funds 18 105,123 291,496 (2,1771 118,353 176,537 60.835 18 18 Total funds 394,442 355. 725 The financial 51at8ments were approved and authorised for issue by the Trustees and signed on their behalf by: Brian Newman Churchwarden Bernlce Flrmin Churchwarden artln Riddett reasurer Date.. 611,.11015 The notes on pages 27 to 47 form part of these financial statements. Page 26
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies 1.1 Basis of preparation of financlal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102> (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and faiv view and have departed from the Charities {Accounts and Reports} Regulations 2008 only lo the extent required lo provide a 'true and fairf view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Pr8Ctice effective from 1 April 2005 which has since been withdrawn. The Parochial Church Council of the Ecclesiastical Parish of the Holy Cross with St Peler's Shrewsbury meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Income Al income is recognised once the Charity has entitlement lo the income, it is probable that the income will be received and the amount of income receivable Gan be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income Is recelvable. 1.3 Expenditure Expendlture 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 activily. The costs of each activity are made up of the total of direct costs and shared costs, including support Gosts involved in undertaking each activity. Direct costs attributable to a single activity are allocat8d 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. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. 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. Page 27
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 1.4 Tangible fixed assets and depreclalion Tangible fixed assets costing £1000 or more are capilalised and recognised whan future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at Gost. After recognilion, under the cost model. tangible fixed assets are mèasured at cosl less accumulated depreciation and any accumulated impairment losses. All cost5 incurred to bring a tangible fixed asset into its intended working condition should b8 included in the measurement of cost. Consecrated and benefi property Is not Included in the accounts by s.10121(8) &(C) of the Charities Ac12011. Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and whichrequire a faculty for disposal are inalienable property, listed in the Church's inventory. which can beinspected {at any reasonable lime). For anything acquired prior to 2000 there is insufficient costinformation available and therefore such assets are not valued in the financial stalemenls. Freehold land and buildings comprise the Parish Hall at St Peters which was built in 1992 at a cosl of £46,000. No depreciation is provided on land and buildings as any charge would not be material due to the very long expected useful economic life and because their expected residual value is not materially less than their carrying value. Depreciation is charged so as to allocate the cost of langible fixed assets less their residual value over their estimated useful lives. using Ihe straighl-line method. Depreciation is provided on the following basis.. Fixtures and fittings Office equipment Computer equipment 33% 33% 33/ 1.5 Investments Fixed asset inv8Stments in quoted shares, traded bonds and similar investments are valued initially at cost andsubsequently at market valu8 at the year end. Investments held for re-sale are treated as current assetinveslments. Investmènt gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments, in the Slatemenl of financial activities. 1.6 stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Page 28
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies (continued) 1.7 Debtors Trade and other debtors ar8 recognised at the settlement amount after any trade discount offerèd. Prepayments are valued at the amount prepaid net of any trade discounts due. An allowance for doubtful debts is established where Ihere is objective evidence that the charity may not be able to collect all amounts due. This assessment is based on: Historical payment patterns, Ageing of receivables, Specific identification of at-risk accounts, Economic or operational conditions affecting the debtor. The allowance is reviewed periodically and adjusted as necessary. Debtors are presented in the financial statements net of this allowance. 1.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of thre6 months or less from the date of acquisition or opening of the deposit or similar account.The amounts include cash accounts associated with the investment Trusts. 1.9 Llabllltles and provisions Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be rèquired in settlement, and thè 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 recelved as advanced payments for the goods or servlces it must provide. Provisions are measured al the best estimale of the amounts required to settle the obligation. 1.10 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.11 Pensions The Charity contributes to a defined contribution pension scheme operated by the Lichfield Dlocese and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. Page 29
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {continued) 1.12 Fund accounting General funds are unrestricted funds which are availabla for use at the discretion of the Trustées in furtherance of the general objeclives of the Charity and whiGh hove not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustèes 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 specffic 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 specifsc fund. The aim and use of each restricted fund is set out in the noles to the financial statements. Investments that have administrative trustees of the incumbent and churchwardens are regarded as restricted by the Lichfield Diocese. These funds are for the benefit of the Parish. Investment income, gains and losses are allocated to the appropriate fund. Page 30
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 In¢ome from donatlons and legacles Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donatlons Other Income 4,361 1,735 135.583 3,760 139,944 5,495 134,418 1.670 6.096 139,343 145.439 136,088 Total 2023 1.665 134,423 136,088 Incomo from charllable actlvltles Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Gift aid & collections Fees for weddings and funerals Church hall & Abbey lettings {¢ommunty groups) Abbey shop 456 5,384 12,190 12,486 4,178 12,190 12,486 4,178 2,643 28,854 28,854 8,483 Tolal 2023 8.483 8,483 Pagé 31
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from other trading activities Income from fundralslng events Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Summer fayre Christmas fayre Tea and coffee donations 1,098 1,796 551 1,098 1,796 551 1,596 1, 706 765 3,445 3,445 4,067 Total 2023 4,067 4,067 Income from non charitable tradlng activltles Unrestricted funds 2024 Total funds 2024 rotal fvnds 2023 Hire of Abbey and Parish Hall 54,583 54,583 33,878 Total 2023 33,818 33,818 Investment Income Endowment Restrlcted Unrestricted funds funds funds 2024 2024 2024 Total funds 2024 Total funds 2023 Income from local listed investments 4,004 4,834 4,706 13,544 11,006 Total 2023 3,058 5.369 2,579 11,006 Page 32
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS wrrH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on raising funds Costs of raising voluntary Incomo Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Cost of fayres & other activites 8,693 8.693 4,840 Total 2023 4,840 4,840 Analysls of oxpandltura on charltable actlvltles Summary by fund type Rastrlcted Unrestrict8d funds funds 2024 2024 Total 2024 Total 2023 Direct costs 6,671 191,784 198,455 184,446 Total 2023 184,446 184,446 Page 33
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expendlture by a¢tlvltles Actlvltles undertaken dlrectly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Charitable acliviti8S 132,659 65,796 198,455 184,446 Analysls of dlre¢t costs Charltable actlvllles 2024 Total funds 2024 Total fvnds 2023 Staff costs 60,494 11.587 25,608 8,399 4,699 17,003 4.869 60,494 11.587 25,608 8,399 4.699 17.003 4.869 49,263 5,321 45,354 6,666 3,399 4,568 1.387 Expanditure on charftable actlvities Common fund Maintenance Upkeep of services Wisiting Glergy l organists Administration 132,659 132.659 115.958 Total 2023 115,958 115,958 Page 34
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WtTH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of oxpandlture by actlvltles (contlnued) Analysls of support costs Charltablè aetlvltles 2024 Total funds 2024 Total fvnds 2023 Expenditure on charitabl6 activitiès Insurance Maintenance Cleaning Administration Church utilltles Hall utilities Ma]or repairs Service charges Gov8mance costs 1,486 11,948 1.951 1,060 6.450 24,269 2,507 9,388 2,217 4,520 1,486 11,948 1,951 1,060 6.450 24.269 2.507 9,388 2,217 4,520 2,952 9.876 230 1.820 13,686 22,252 1,398 11,324 4,950 65,796 65,796 68.488 Total 2023 68.488 68,488 Page 35
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Independont axamlnerfs remuneratlon 2024 2023 Fees payable to the Charitvs independent examiner for the independent 8xamlnation of the Charitys annual accounts 1,500 300 10. Staff costs 2024 2023 Wages and Salaries Social security Gosts Contributlon to daflned contributlon pension schemes 56.396 3.269 829 46.554 2,072 637 60.494 49,263 The average number of persons employed by the Charity during the year was as follows: 2024 2023 Average number of employees No employee received remuneration amounting to more than £60.000 in either year. 11. Trustees. ramunoratlon and expenses During tho year. no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 December 2024. no Trustee expenses have been incurred (2023 - £NIL). Page 36
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS wrrH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. TangFble fixed assets Freèhold property Cost or valuatlon At 1 January 2024 46.000 At 31 December 2024 46,000 Net book value At 310ecgmber 2024 46,000 At 31 Decembgr 2023 46,000 13. Flxed asset Invèstments Listed Investments Cost or valuation Al 1 January 2024 Additions 211,820 4.853 At 31 December 2024 216,673 Nel book value At 31 December 2024 216.673 At 31 December 2023 211,820 14. Stocks 2024 2023 Finished goods and goods for resale 3.870 Page 37
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Deblor8 2024 2023 Due wlthln one yaar Trade debtors Other debtors 36.669 11,383 581 36,669 11,964 16. Cradltors: Amounts falllng due withln ong year 2024 2023 Trade creditors Amounts owed to joint ventures Amounts owed to other participating interests Other taxation and social security Accruals and deferred income 6,250 7.662 27.000 4,236 698 4.520 10.770 39,596 Page 38
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Descriptlon of funds Unrestricted funds are Income funds of the PCC that are available for spending on the general purposes ofthe PCC. Designated funds are income funds designated by the PCC for fixed assets for its own use or for spending on a future project and whlch are therefore not included in its 'free reserves, as disclosed in the trustees, annual report. An explanatioin of the purpose of each designated fund are as follows: Boiler: Flower Festival: lar Linen.. For the replacement and maintenance work on the boiler Income and expenditure in connection with the Abbey Flower Festiv81 For the purchase and maintenance of altar linen Restricted funds comprise of two eloments= al income from Irusls or endowments which may be expended only on thoes reslricled objects provided in the terms of the trust or bequest. b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific obJect for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC doe5 not usually invest separatley for each fund. Where there is no soparala investment, interest is apportioned to individual funds on an average balance basis. An explanation of purpose of each restricted fund are as follows:. Abbey resloration= For the restoration of the Abbey Food bank= For donation to charitable organisations running Food Banks Forget me not.. For the support of dementia friendly church Trusl T1745= For the general purpose of the Church of England Parish. Partly held by Lichfield Diocesan Trust For the internal redecoration of Ihe vicarage. Fund5 are held by Lichfield Board of Finance For the promotion of Choral Music in the Abbey For the renovation of the William Hill organ in the Abbey For the insulation of the roof of the Parish Hall Legacy from Miss Rachel Sall recelved In September 2018 with a request that something be purchased in memoriam For the sole benefit of Sl Peter's Church For the benefit of the Parish. Held by Lichfield Diocesan Trust Stay and play toddler group at St Peter's To buy and maintain vestments InlDec: Music.. Organ.. Rwf insulation: RSALT.. St Peter's: T619: Toddle= Vestment: Ouseley Church Music Trust: To fund the organ and choral scholarship including the provision of music lesson5 for the chor. Page 39
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Endowment funds are restri¢t8d funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income. and where the use of any Income or other beneflt derived fro the capital may be restricted or unrestricted. An explanatlon of purpose of each Endowment fund are as follows: HM Lee: For the purpose of the Church of England In the Parish. The PCC to consider closing this and the interest to be recorded agalnst the General fund as there are no restrictions. For the accofflmodation of a r81igious or assistant Curate. Held by Lichfield Diocesan Trust T1447: Page 40
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PEfER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Statement of funds Statement of fundg - current year Balance at 31 December 2024 Balance at 1 January 2024 Transfers Inlout Income Expendlture Unrestrfcted funds Deslgnaled funds Boiler T1745 Flowers Altar Linen 4,575 86,526 {354) 4,221 1,681 2.410 50 (88,207) (2,410) 50 91.101 4,141 (2,7641 (88,207) 4,271 General funds General Funds (30,266) 226,790 {197,713 (5,259) {6,448) Total Unrestrlctad funds 60,835 230.931 {200,477) {93,466) 12,17n Endowment funds HM Lee T1447 800 800 104323 117,553 4.004 (17.234) 118,353 4,004 (17,234) 105,123 Page41
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS wrrH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Statement of funds {contlnued) Balance at 31 Decembar 2024 Balance at 1 January 2024 Transfers Inlout Income Expondtture Restrlcted funds Abbey F(K)d Bank FORGETME HM Lee Music Organ Roof Insulatlon RSALT st Peters T619 Toddle Vestment Intemal Decorating T1447 4791 150 330 35 3,766 (15,402) 3,500 3,050 3,650 169,264 2,400 205 4.791 100 {250) 330 (78) (1,938 (3001 (2,014) 1.828 (9,979) 1,486 3,050 3,650 174,054 2,174 205 5.723 4,790 274 (500) 798 798 17,234 88,207 5.337 17.234 88,207 3,668 T1745 Ouseley Church Music Trust (1,669) 176,537 10.930 (6,671) 110,700 291,496 Total of funds 355,725 245,865 (207,148) 394,442 Pagè 42
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PEfER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Statement of funds (contlnued) statement of funds - prlor year Balance al 31 December 2023 Balance at 1 January 2023 Transfers in/oul Gains/ (Losses) Income Expenditure Unrestrlcted funds Deslgnaled funds Boil&r T1745 5,283 83,920 (708) 4.575 86.526 768 1,838 89,203 768 (708) 1.838 91,101 General funds General Funds (17, 792) 175,800 {187.052) (2,910) 1,688 (30,266) Total Unrestrlcted funds 71,411 176,568 {187.760) (2,910) 3.526 60,835 Endowment funds HM Lee T1447 800 110,395 800 117,553 1.714 5.444 111.195 1,714 5,444 118,353 Page 43
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 18. Statément of funds (contlnu•d) Balance at 31 December 2023 Balance 8t 1 January 2023 Transfers in/oul G8in (Losses) Income Expenditure Restrlcted funds Abbey Food Bank FORGETME HM Lee Musi¢ Organ Roof Insulation RSALT St Peters T619 Toddle Vestment Intemal Decorating 4.791 4,791 150 150 150 180 35 755 330 35 3, 766 (15.402) 3.654 (22.934) (643) 1782) 5,404 3,500 2,910 3.050 3.650 153,574 2.005 305 3,050 3.650 169.264 2,400 205 4, 758 395 10.932 (100) 798 798 149,043 15,177 (1,525) 2,910 10,932 176.537 Total of funds 331,649 193.459 (189.285) 19,902 355, 725 Page 44
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Summary of funds Summary of funds- current year Balance at 31 December 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Designated funds General funds Endowment funds Restricted funds 91,101 {30,266) 118,353 176.537 4,141 226,790 4,004 10.930 (2,7641 1197,7131 (88,207} {5,259) (17,234) 110.700 4,271 (6,448) 105,123 291,496 (6,671 355,725 245,865 (207,148) 394,442 Summary of funds . prior year Balance al 31 December 2023 Balance at l January 2023 Transfers in/oul G8ins/ (Losses) Income Expenditure Designated funds General funds Endowment funds Restrlcled funds 89,203 (17. 792) 768 (708) (187,052) 1,838 1,688 91,101 (30,266) 175,800 (2,910) 111,195 149,043 1.714 15.IT7 5.444 10.932 118.353 176.537 (7,525) 2,910 331,649 193,459 (189,285) 19,902 355, T25 Page 45
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Analysls of net assets between funds Analysls of net assets between funds - current perfod Endowment Restrlcted Unrestrfcted funds funds funds 2024 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 46,000 21,870 (59.277) (10,770) 46,000 216,673 142.539 (10,7TO) 64,761 40.362 130,042 161,454 105.123 291,496 (2,177) 394,442 Analysls of net assets between fund8 - prlor perlod Endowment fvnds 2023 Restricted Unrestricted funds funds 2023 2023 Total fvnds 2023 Tangible fixed assets Fixed asset Investments Current assets Creditors due wlthln one year 46.000 21,376 28,594 (35,135) 46.000 211,820 137,501 (39,596) 63.312 55,041 127,132 53,866 (4,461) 118,353 176,537 60,835 355,725 Page 46
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE HOLY CROSS WITH ST PETER'S SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 21. Analysls of Investment assets Fund Cash Investment 0110112024 0110112024 Interest Dividend Cash Investment 3111212024 3111212024 Shrewsbury Holy Cross 619 43.528 127,132 1,881 2.910 45,409 130,042 Shrewsbury Holy Cross 1447 8,652 198 8,850 Shrewsbury 1745 11.050 21,376 1,186 489 12,237 21,870 Shrewsbury 1447 14,679 54,660 2,555 1.251 17,234 55,911 HM Lee 835 43 877 Total 70,092 211,820 5,665 4,848 75,757 216,673 The table above shows the Interest earned on cash savings and the dlvldends received on investments during the year. 22. Related party transactlons Donations from Related Parties Donations from related parties during the year totslled £11,897 from 13 parties (2023.'£13,105) Ramuneration paid lo Truste&s Non6 of the trustees have been paid any remuneration or received any other benefits from employment with the PCC in 2024 (2023.. NIL). Expenses paid to Trustees None of the trustees have been paid any expenses in 2024 {2023'. N IL). Page 47