FINANCIAL REVIEW
St Peter’s Church has two entities; the Church and St Peter’s Centre (Hub), both of which take place within the church building and come under the jurisdiction of the PCC.
The Church benefitted from higher donations (due to GVPW), wedding and funeral fees this year and succeeded in meeting the proposed Parish Offer obligations. Running and maintenance costs remain high but 70% of these are funded the Hub. Heating bills were covered by the Hub’s National Lottery Funding for the latter part of the year. The success of the100 Club continues and the members of the PCC run increasingly popular monthly inSpire lunches. A generous donation has been received towards restoration of the bells.
The Hub profits increased again this year mainly due to the popularity of the cafe2 but also increased venue hire and fund raising events. A third part time member of staff joined the cafe team in the autumn and volunteers gave an average total of 50 hours per week. As well as paying for a part time Project Co-ordinator, the lottery funding also paid for a Treasurer, Cleaner and Premises Manager all of whom work part time and are self employed.
The Hub continues to benefit from a Renewable Heating Incentive grant which goes towards, but does not cover, the cost of wood pellets for the biomass boiler.
RESERVES POLICY
The PCC currently holds Designated Reserves to cover 9 months’ operating costs including salaries which are only funded by the National Lottery until 1[st] May 2025. A designated Emergency fund is in place to cover unexpected repairs. There is one CCLA deposit fund currently valued at £12.
Approved by the PCC on………………………………
Signed by……………………………………………………
Date……………………………
PETERCHURCH PAROCHIAL CHURCH COUNCIL - CHURCH - Income & Expenditure Account for the year ending 31/12/2024
| Income 2024 Gif Aided donatons £6,697.15 Other Planned Giving £290.00 Cash collectons £499.77 Restricted collectons CHARITIES £80.00 Wall safe & misc donatons (inc GVN+GVPW) £5,858.56 Special appeals / designated £6,359.38 Gif Aid Tax reclaimed £1,158.23 Fund Raising £6,033.77 Income from investments £0.62 Wedding and Funeral Fees £3,395.00 Insurance claim re wall £0.00 Faith New Deal grant £0.00 Electricity wayleave £11.92 Mower grant £0.00 Other income (Tithe) £605.26 TOTALS £30,989.66 2024 Income exceeds Expenditure by 2023 Expenditure exceeds Income by |
2023 £6,856.46 £240.00 £759.26 £0.00 £1,377.29 £270.00 £2,648.14 £4,875.38 £210.46 £1,504.00 £1,502.00 £1,516.39 £11.92 £1,950.00 £408.79 £24,130.09 £7,217.04 SUMMARY |
Expenditure 2024 2023 Fund Raising £2,379.34 £1,658.92 Donatons £80.00 £582.62 Parish Share / Ofer £10,500.00 £10,250.04 Wages (Treasurer) £1,143.29 £1,160.74 Clergy expenses £2,292.00 £2,292.00 Repairs to Bells £252.00 £4,902.73 Church Requisites £204.16 £130.04 Churchyard maintenance £251.52 £0.00 Utlity bills £1,622.88 £2,066.97 Trading costs inc insurance £1,007.45 £1,814.68 Major repairs £0.00 £1,752.00 Faith New Deal £0.00 £2,864.49 Repairs / renewals /servicing £4,395.68 £4,902.73 Mower repairs £58.37 £1,871.90 TOTALS £24,186.69 £36,249.86 £6,802.97 BANK OPENING BALANCE £12,861.32 |
|---|---|---|
| BANK CLOSING BALANCE | £19,664.29 |
|---|---|
| NET MOVEMENT | £6,802.97 |
PETERCHURCH PAROCHIAL CHURCH COUNCIL - HUB - Income & Expenditure Account for the year ending 31/12/2024
| Income 2024 2023 Café takings £74,101.95 £36,698.13 Centre Hire £2,834.95 £1,990.40 RHI Payments (monies for '22 were rec'd in '23) £9,615.15 £14,536.27 Donatons £1,114.36 £2,909.21 Restricted donatons inc Tips £1,985.67 £350.28 Event income £4,268.03 Architect fees & kitchen extras from Lotery £26,284.00 TOTALS £120,204.11 £56,484.29 2024 Income exceeeds Expenditure by 2023 Income exceeds Expenditure by Grant Funding Received The Natonal Lotery £127,243.00 £172,545.00 Mayors Community Weekend £0.00 £1,850.00 Awards for All £0.00 £9,000.00 Talk Community grant £250.00 LPW re VAT on kitchen building works £5,117.38 TOTALS £132,610.38 £183,395.00 2023 Grant Expenditure exceeds Income by £714.55 2024 Grant Income exceeds Expenditure by |
Expenditure 2024 2023 Café purchases £26,448.92 £12,020.93 Wages (in excess of TNL funding) £13,804.55 £5,684.55 Repairs / servicing / running costs / maintenance £15,070.81 £10,978.65 Utlites (electricity) £2,060.86 £3,933.84 Restricted donatons inc Tips £2,054.54 £120.45 Event costs £2,771.50 Supplies / consumables / renewals £6,461.35 £5,248.90 Architects & Builder (from Reserves) £0.00 £12,394.15 TOTALS £68,672.53 £50,381.47 £51,531.58 £6,102.82 Grant Funded Expenditure The Natonal Lotery (includes capex in 2023) £112,200.13 £173,125.27 Event £33.63 £1,816.37 Wood pellets £4,795.80 £9,157.44 Talk Community play sessions £388.00 Statonery, training, mobile phone £10.47 £117,417.56 £184,109.55 £15,192.82 |
|---|---|
SUMMARY
TRADING PROFIT GRANT FUND DECREASE TOTAL
BANK OPENING BALANCE £51,824.19 BANK CLOSING BALANCE £118,548.59 NET MOVEMENT £66,724.40
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ members of
The Hub & Peterchurch Parochial Church Council
On accounts for the year ended
31[st] December 2024
Charity no (if any)
1152026
Set out on pages
Responsibilities and basis of report
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2024 .
As the charity trustees of the Trust, 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 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:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed:
Date:
16-05-25
Name:
Mr T C Humberstone
Relevant professional qualification(s) or body (if any):
1 October 2018
IER
ACMA, GCMA
Address:
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
The accounts have been reviewed in person with the Treasurer and material transactions have been reconciled through the records and bank account.
It is noted that there is good segregation of duties in terms of the authorisation of payments, now the treasurer has a separate role in the day-to-day management of the Hub.
2
October 2018
IER