Charitable Incorporated Organi53tion: 1163195 THE DIOCESE OF NORWICH CHURCHESTRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE DIOCESE OF NORWICH CHURCHES TRUST CONTENTS Page Reference and admlnlstrative detai15 of the charity, IVS trustee's and advisers Trustees, report ststement of financial activities Balance sheet Statement of cash flows Notes to the flnanclal statements 8-10
THE DIOCESE OF NORWICH CHURCHES TRUST REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY, IT'S TRusfEE'S AND ADVISERS FOR THE YEAR ENDED 310ECEMBER 2023 Trustees The Ven Steven Betts, Archdeacon gf Norfolk The Ven Keith James, Archdeacon of Norwich The Ven Cètherine Dobson. Archdeacon of Lynn Tim Sweeting CIO Reglstered Number 1163195 Prlnclpal office 109 Dereham Road Easton NR95ES Clerk & Treasurer James South ACCA Accounts prepared by Norwich Diocesan Board of Finance Ltd Diocesan House 109 Dereham Road Easton NR9 SES Bankers Bar¢lays Bank PLC 57 London Street Norwich NR2 IHS Solicitors Birketts KinEfssher House l Gilders Wav Norwich NR3 IUB Page11
THE DIOCESE OF NORWICH CHURCHES TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees prèsent their annual directors, report together with the financial statement5 of the charity for the year ending 31 December 2023. The financial statements comply with the Charitie5 Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republie of Ireland IFRS 1021 leffective I january 20151 Objertives and activities Overall objèdive5 The advancement of the Christian Gospel and faith within the Diocesè of Norwich by providin& administering, maintaining, repairing. renewing and replacing churches or ecclesiastical buildings licensed for public worship in actordance with the Christlan faith 35 reiVed by The Church of England. Public Benefft The trustees confirm that, in exercising their powers and duties, they have compiled with their duty to have due regard to the guidance on public benefit published by the Charity Commission. The Churches carry out services of wofship, marria8es, baptisms and funerals which are attended by the general public and enrichÈs local communities by the provision of these services. Structure, governance and management Structurè The trust wa5 founded on the 19 August 2015 and 15 a Charitable Incorporated Organisation. Meetings The trustees have rnet on an ad-hoc basis during the process of establishing the CIO. Trustee5 The trustees are the three Archdeacons, in the Norwich Diocese. along with the Diocesan Secretary/Chief Exe¢utive of the Norwich Diocesan Board of Finance Limited. The trustee5 receive no remuneration for their work and the charlty does not have any salaried employees. Risk Management The Trustees have assessed the major ri5k5 to which the charitv 15 exposed, in particular those related to the operation5 and finances of the charity. and are satisfied that systems and procedures are in place to mitigate our exposvre to the major risks. Related partleslconnected charity The Norwich Diocesan Board of Finance Limited was incorporated on 28 March 1906 and is a connÈcted charity of the Diocese of Norwich Churches Trust. Page12
THE DIOCESE OF NORWICH CHURCHES TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEM8ER 2023 Achlevement and Performance Leaslng of Churches At the beginning of 2023. there were fourteen churches leased to the trust. Financial Review Flnan¢ial Performance The trust recetved income of £40,484 in 202312022 - £20.0851. this income relate5 to collections at services, statutory parochial fees and other donations. The residual balance at year end. along with the grants from the All Churches Trust. the Anne French Memorial Trust and the Norwich Diocesan Board of Finance Limited being treated as deferred income is £32.12512022- £44.6211. Of the fourteen churches in the trust. 10 of these no longer have any funds and are been funded from the unrestricted funds. As at the 31" December 2023, deferred unrestritted fund5 Stand at £32,1251£44.621 in 20221. Reserves Policy Where a Church is leased to the trust. any incoming funds are restricted for that specific building. This is also the case where collections are made in Church, a Statutory fee is received or any other situation where income would otherwise have been passed to the PCC responsible for the building. The grants received, tolalling £87,500 (current balance £32.1251 is an unrestri¢ted reserve which is expected to be used towards the running costs of the charity but primarily where the restricted funds aligned to a church are exhausted. This is to ensure that the building is maintained in accordance with the lease. Due to the commitment of funding a building from unrestricted funds (approximately £1.700 per church) and the timing to obtain additional grant fundin& the trustees monitor unrestricted reserves to ensure that they do not fall below £25,000 for a prolonged period. Going Concern Now that churches are more regularly opened for worship, the in¢orne from collections increased slightly into 2023. compared to 2022 and it is expected that income will either stabili5e slightly or increase in 2024. There are currently sufficient reserves 1£32,1251 to be able to maintain the level of provision at the current levèl for the next twelve months. In addition, the trust is due to lease four further churches in 2024. which will bring an increased level of unrestricted fund5 into the trust. On this basis, the trustees are satisfied that there are sufficient assets to ensure that the charity can continue to ftsifil its obligations for the next twelve months. Fundraising standards information The Trust does not raise fund5 from the public via fundraising activities. It may however take collection5 held at services in the Churches vested within the Trust. The Trust is not re8lStered with the fundraising regulator. No professional fundraisers or ihird-party commercial participants are used. No complaint regarding fundraising has been received and no advertising takes place regarding fundraising. Page13
THE DIOCESE OF NORWICH CHURCHES TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 310ECEMBER 2023 Statement of Trustees, Responsibilities The Tru5tee5 are responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom A¢¢ountin8 Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees tts prepaie financial statements for each financial year which give a true and fair view of the State of affairs of the Charity and of the income and expenditure of the charity for that period. In preparin8 these financial statement5, the Trystees are required to.. select 5Ultable accounting policies and then apply them consistently; observe the methods and principles in the Charities Statement of Recommended Practice ISORPI; rnake judgments and estimate5 that are reasonable and prudent.. State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unles5 It is inappropriate to presume that the charity will continue in operation on the same basis from 12 months of the date of this report. The Trustees are responsible for keeping adequate accoitrnting records that disclose with re850nable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reptsrt51 Regulations 2008 and the provision5 of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularitTe5. This report was approved by the Trustees on 30, September 2024 and signed on their behalf, by.. The Venerable Steven Betts Page14
THE DIOCESE OF NORWICH CHUR¢HESTRUST STATEMENT OF FINANCIAIAcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricttd lund5 Restrlrted lunds 2022 Total fund5 Note Total Incomeand endowmentsfrom: Transfer5 In Donations and collections Parothial Fees Grants and Fundralslng T4)tsl It)come 18.409 2,870 6,870 28,149 3,802 3,893 12,3 20.085 2,870 19,205 12,335 12,335 Expendltsre on: Administration Church Running Expenses Churchyard Building Works Other Total Expenditure 55 1,246 55 23,587 432 76 25,752 22,341 432 12 26,020 1.301 22,773 2d.074 Net Incomellexpenditurel Transfer between funds 11,034 iii,oyi 5.376 11,034 16MIO 15.9351 Net movement In lunds 16.410 16.410 15,9351 Rewnclllatloth of fvnds- Total funds broughtforward at l January 2023 Total funds carried loard at 31 Ottember Z013 42,233 58,643 42,233 58.643 48,168 42,233 The ntytÈson PaBe7 forms part of thesefinancial siaiements. Pa8e 5
THE DIOCESE OF NORWICH CHURCHES TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 Note 2023 2022 Current assets.. Bank Account Debtors rotul current assets 78,824 12,071 90.895 76.778 11.316 88,094 Creditors.. Amounts falling due within one year Netcurrentossets 127 90.768 1.240 86.854 Creditors- amount5 falling due after more than one year 32.125 44,621 Totolnet assets 58,643 42,233 The funds of the charity: Unrestricted funds Restricted fund5 58.643 42.233 Totolcharftyfvnds 58,643 42.233 Page 6
THE DIOCESE OF NORWICH CHURCHES TRUST CASH FLOW STATEMENT FOR THE YEAR ENDING 31 DECEMBER 2023 Note 2023 2022 Cash flow from operatln8 artivities Change in cash and tash equlvalents in the reportln8 period 2,046 119.3901 Cash and cash equivalents at 1st January 2023 76,778 96,169 Cash and cash equivalents at 31st December 2023 78,824 76,779 Reconclllatlon of net income to net cash flow from operatln8 actlvltes Net income Decreaselllncreasel in debtors IDecreaselllncrease in creditors 16,410 17551 113,6091 IS.93SI 11.5541 111,9011 Net cash usèd in operating actlvltlès 2.046 119.3901 Analysis of cash and tash equivalents Cash in hand 78,824 76.779 The finan¢ial statements were approved by the Tmstees on 30th September 2024 and signed on their behaK by: Chair Pa8e 7
ThE DIOCESE OF NORWICM CNURCHES TRusr NOTESTOTHE FINAficiALSTATEMÈNT5 FOR THE YFAR Ef4DEO 31 DECEMBER 2023 l. Accountin8 Poli¢les 1.1. BÈ$isolpreparatlon of flnancfjal stateymhts The accountsllinantial 5taternent51 have been prepared underthe historical (ost convention with ItetTr5 reco8nlsed alco# or trdn5attion lue unlessotherw152 5t3ted In the relevant notelsl tothese •c(ounts. The financial Statements have been prepad in accordancewlth the51atement of Recomtnended Prattice.. Accounting Reportln8 bycharities preparing thelr 3CCOJnts in ccordance wlth the Financial Reporting StaDd3rd applicable in the UK and Republic of Ireland IFRS 102115sued on 16 luly2014 and the Financial Reportlng Standard 3pplicable In the United Kin8dom and Republic of Ireland IFR$ 1021 and the Ch3ritiesAct 2011. TheTrust consiitvtes a public benefitentity a5 deflned by FRS 102. 1.2. Incornlni resourtts l inrotning re50urce5 are Included in thÈ statement of finandal artivities on an accruals ba&s. 1.3. Resources expended All expenditurels accounted lor on accruals ba5. 2. Int¢Jffle from Unrestrkted futhds Re5trlrted htnds Totsi funds2023 Total funds2022 DonatlQn5 16,410 29) 16.410 290 1,999 1870 18.Y35 2,548 166 1,254 3.893 12.224 Collections Statutory Fee5 Grants Renta1 Income 2.870 6,400 80 12.335 100 40,484 12,335 28.149 20,085 J. ExpEndlture bychèrttable Attlv6ty Vnrestdrted funds Restrlcted luthds Ttst•l fun¢J52023 Total fund52022 Bank Charges Churchyard Inspection 55 55 432 7.563 IL997 23 6SI 76 432 7,563 10,751 23 651 7,650 10,749 12 3,865 1.281 2.207 26.020 1,247 Mi Roof Alarm 3,013 22.773 31> 2474 1,301 Page 8
ThE DIO(SSE OF NORWICH CHURCHES TRUST NOTESTO THE FINtsACIALSTATEMENTS FORIHE YEAR Et4DED 81 DECEMBER ZOZY 4. Analysis olTTrn5fer Between Futhd5 Deferred Incom¢ 12.3351 112.335 Unremrlcted fvnds 12.335 12.335 Restrictedlunds Total fund5 2020 Transfer from Oeferred Income ThÈtran5ferfrom deferred incorne was made to match both thedeficii of general expendlture, being £1.301 andthe transferto coverthe deficit of expenditure incurred where $trIcted fund5 received from the parishes had been exhausted which for 2023 was£ll,03412022.. £11,0291- 5. Debtors Due wlthln othfr¥e•r Prepayments and accrued Income Energy Refund Le63Cy Donationsand Collection5 2023 10.420 1,551 Ic 2022 9,874 Bl 1.361 11.316 12,071 This cotnpr15e5 of Insurance paid forthe perlod Istjanuary 2024to 28th Septembèr 20241£9,5541 as well 35alarm Subs(riptionscor1n8 rhe period for 2024 of £866. There 15 also a legacvfor £1 which was used 38ainsttspital works undertaken in 2023, but recewed In 2024. 6. Credltors Credbtorg-aThYThts fall18 due thIrt ont year Other creditors 2023 127 127 zozz 1.240 1.240 Creditors- amounisfalllngdye •fterrnorethan Othe•r Deferred Income 2023 2022 32.125 32,125 44,621 44,621 The atnount5 falling due Within one yearcomprisesof £127which relaiesto Utilllies bllled in 2024 for 2023 usage Tru$tee Remuneration Durlngthe year, nDTrustee5 received any remuneration12022.. nill Duringihe year, noTrustees *ceived any benefits In klnd 12022.- nil) Ouringthe year. noTrustees received any reimbursement ol expenses12022'. nlll Pa8e 9
THE DIOCESE OF NORWCH CHURCHESTrU NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMMER 2OZY 7. Ststement of Funds B•lwnce at Isr J•nwry 2021 Incomln8 Resources Resoyr¢e& EMp¢nded Transfer between Mnd$ 8al4Trce at 3151 De¢embEr2023 UThrestrkted FurK15 General Fund 12,335 1,301 111.0341 Re5trtrted Funds Cantley. St Margaret 8run5tead St Peterand Paul, Bittering Parva St Margaret. Calthorpe St Margaret, Calthorpe IPlasterl St Lawrence, In8WOrth St Lawrence. In8WOrth (Gfassl St Lawrence. Ingworth Ichurch and Chur¢hyardl St LawreDce, Ingworth lThatrhl St Nicholas. Shereford All Saints. South Pi¢kenham StAndrew's, Themelthttrpe All Saint5. Wea5enham St Boiolph's, Westwick Be55lngham 957 2.438 958 1,825 1.342 1.481 852 154 236 106 1,671 1,478 i) 595 1,363 432 768 314 13,175 937 7Q¥) 195 278 13,175 549 714 1.102 1,208 508 801 2,261 2,539 2.0)1 1,660 1.199 2.597 1.807 1,064 1,652 37,797 458 37.894 1.757 1,108 50 91 2.547 Suflield Battle Area Churthe5 Cr05tWick 1,218 l(K) 254 Totsi Restricted Funds 42.233 29,907 24.531 11,034 58.643 Totsl of FUd5 42.Z33 42.242 25,832 58,643 8. Summaryof Punds YBht ForvArd Incomlng Re50urces Resoue5 Expended Trnn$fer betweeh fvnd5 Carrl•d Forw4*d Genepl Fvnds Restricted Fund5 IZ,335 29,SY)7 1.301 24.531 111.0341 11.034 42.233 58.643 42.2aa 42,242 Z5.832 58.643 9. Analyslsol Net Ass•t$ BÈ¢ween Funds Unrestrlcted funds R•stritted Fvnds 2023 Total Fvnds TotolFynd5 2023 2022 Current a55ets 32.12S 58.643 90.768 86.854 32.125 58,$43 90,768 86.854 10. Rit•tÈd P¥rtyTransJrtlon A balaTh of £539vfiS due from the NoTwich DI0S3 Board of Finance Ltd12493181. Thi5 related to the net balan of statutory parochial lees due. Pa8e 10
CHARITY CCIMhllSSION | FOR ENGLANO ANO WALES Independent examinerfs report on the accounts SeGtion A Independent Examiner's Report Report to the trusteesl members of &J ¢11 64tJncilrJ l•S On accounts forthe year ended Charity no lif any) I IbJiq< Set out on pages ir) I report lo the tfustees on my examination of the 8ccs)unts of the above charity {Ihe Trust"} for the year ended Responslbllltles and As Ihe charity trustees, you are responsible for the preparation of the basis of report aoUnts in accordance wlh the Charities Act 2011 1"the Act"). I report In respecl of my exarninati of the Tnjst's accounts carried out under section 145 01 the 2011 Act and in Carng out my examination, I have followed all the applicable Directions given by the Charity Commission under seclion 145151{bl of the Act. Independent examiner'5 Statement applie9]. O&18te I l ifnot applicable. I have completed my examinalion. I confimi that no materlal matters have come lo my attention ') in connedion whh the examinatson which gives me cause lo believe that in, any material respeGt.: Ihe accounting cOrdS were not kept in accordance with secllon 130 ol the Acl,. or Ihe accLJunts did not accord wth the accounting records., or the accounts did not comply with Ihe applicable requirements conceming the form and content of accounls Sel out in the Charilieg (Accounts and Reprytsl Regulations 2008 other than any requirement that the accounts give a 'lrue and fairf Mew which is not a Matter considefed as part of an independent examination. I have no concems and have come auoss no other matters in connection with the examination to whith attention should be drawn in this report in order to enable a proper understanding of the 3Gcounls to be reached. Please delel the wortls in Ihe brackets if they do not apply. Slgned: Date: Name: Rolevant professional qualificationls) or body (if any): .Y.4c IER October 2018
Address: Section B Disclosure Only complele If the examiner needs lo highlight matters of conGem (see GC32, Independent examination of tharily accounts.. directions and guidance for examiners). Glve here details of any Items that the examiner wlshes to dlsclos8. IER October 2018