St. Faith's Church, Gaywood, King's Lynn Single Congregation Local Ecumenical Partnership Gayton Road, King's Lynn PE30 4DZ Registered Charity Number: 1168610 Annual Report and Financial Statements of the Church Council for the year ended 31st December 2023 Team Rector Revd Kyla Sorensen St Faith's Rectory Gayton Road King's Lynn PE30 4DZ Team Vicar Revd Kadene Ke 28 Jermyn Road King's Lynn PE30 4AE Methodist Minister Revd. Robert Roberts 9 Peckover Way Soulh Wootton King's Lynn PE30 3UE Bank Barclays Bank plc 91-92 High Street King s Lynn PE30 1BL Independent Examiner Mrs. Claire Melton FCCA. TEP Stephenson Smart Chartered Accounlants 22-26 King Street King's Lynn Norfolk PE30 1HJ Annual reportfor 2023 pages3-7 Statement of financial activities page 8 Balance sheet page 9 Accounting policies pages 10- 12 Notes to the financial statements pages 13- 16 Independent Examinerfs Report Pages 17- 18 Page 2 Annual report 2023 Aim and purpose The Church Council is responsible for co-operating with the Methodist Minister, the Team Rector, the Team Vicar. and the Assistant Curate in the clergy team and in promoting the whole tllission of th e Ch u rch in the parish. This mission is pastoral, evangelistic, social and ecumenical. Objectives and activities The church council is committed to enabling as many people as possible to worship at our Ghu rch and to become part of ourcommunity al St Faith's.11 maintains an overview of worship throughout the parish. Our services and worship pul faith into practice through prayer. scripture. music and sacrament. Everyone is welcome at our regular seNices. We ty lo enable people to live out theirfaith as part of our parish community through= worship and prayer. leaming aboutthe gospel. and developing their knowledge and trust in Jesus. provision of pastoral care for people living in the parish missionary and outreach work To enable us to carry outthis work it is importantthatwe Fnaintain the fabric of the church building and manage the finances properfy. Achievernents and performance 2023 was another yearof growth and development at SL Faith's. Now fully emerged from Covid we have continued to build on our events and social gatherings. our kn'metable for worship is full and varied and we have introduced a few new groups such as the Julian Meets'ng {contemplative prayergroup), a bereavementgroup and others. In May we celebrated the official opening of the St. Faith's Community Hub with a special service at which four adults were confirmed into the Anglican and Methodist Faith by Bishop Graham Usher and Methodist Deacon Lynne Tonge. Along with members of the Ghurch family, conlributors and sponsors who were part of the "Bungalow Project. were invited to an official ceremony at the hub afterlhe Servi￿ and we all shared a lunch togeth er. Ou r diaries remain full wilh all of Ihe services and events throughoul the year- including concerts in the church-, our monthly coffee momings are now a firm and popular regular date in the calendar. This, along with other events such as the Friendship Café and Forget-me-nols Lunch Club. are importar)t and establisheij outreach into our cornmunity. St. Faith's conb'nues to play a key role in the civic life of the community. The church is an icon of the town and the numberof Life Events thattake place in and around the church reflect how respected it is in people's family histories. Thank you to our vergers Robin and Peter, and to Joyce they are always willing and available lo help out at Ihese services to ensure they go ahead safely. Remembrance Page 3 After much negotiation and planning, we were pleased to be able lo have the Remembrance Parade to the Clock memorial reinstated for this year's service. This was rnade possible by no less than 8 of ou r local cou ncillors donating a portion of their community fund money to cover the cosl of a third-party company handling the now mandatory road closures. Itwas once again a tnjly ecumenical civic event for Gaywood, as we partnered with other churches. our uniformed organisations and council representstives and our local Beat Managers were in attendance. Children and Families Ministy Thisyearouryouth group has continued to nJn on the first Sunday of every month and is nowbased in the hub, which gives us all a lolmore room. Ourage range in the group is 9- 17 years old and some of them competed in the Priory Rotary Swimarathon - raising over £600. Some of that money was spent on an evening outfor the group and some of their friends at the local bowling alley but more nolably. some of those funds raised by them have been designated. at their request to be spent on purchasing toys for our burgeoning 0-5 age group. We are very proud ofour young people, who care deeply about others. Our youth group have joined in with the occasional regional youth events held at St. John's Church. We have not been able to run many events foryoung people this year. not due lo lack of funds (as there is a now a small available fund forfamily ministry). but ratherthrough lack of volu nleers. On the horizon-. we have applied forfunding lo start a stay and play toddler group on the Fairslead Eslale to start, we hope. sometime in the New Year, and we are also in discussions with Ihe Detsched Youth Work team at the council and with our local Beat Managers to jointty run a weekly youth group again on the Fairstead Estate. This programme is already being wn successfully atthe Beacon in North Lyn n. We continue to regularly welcome our schools into SL Faith's for services and visits. Revd Karlene has a good relationship with Fairstead School in parbcular. as a school govemor and Revd Kyla is involved with Springwood and Howard Schools. Despite our unifomied organisations having moved their activities from the church rooms lo the purpose-built Scout Hall in Beulah Road. OLsr connection with them remains good and we are working towards finding some olherways to work together and bring support. The Cubs and Beavers enjoyed a great aftemoon of games and water sports in the Rectory garden. Revd Kyla is the Chaplain forthe 42F Squadron AirTraining Corps. which has strong links with Springwood School and our own church youth group. Generous Giving As in many churches. the pandemic and post-pandemic years have had a great toll on our income and we continue to stnjggle lofind the finances to pay ourParish Share and Methodist Assessment. However. with good stewardship and many hours from our Treasurer AndyHilesand the Finance Team worf(ing and planning behind the scenes we have been able lo meet our commitments-just. We held a Generous Giving Campaign and we are thankful thatthis yielded some benefit butin 2024 we will have to find new ways of increasing our income in orderto meet ourfinancial obligations and be able to have funds for mission and outreach. A Goodbye and Thank You to Revd Canon Karlene Kerr Page 4 In Decemberwe said goodbye to Revd Canon Karfene after 6 years as Team Vicar here as she moved to take up a part-time post at St. John's Church in King's Lynn and to develop the work of From Lament to Action at a Diocesan level. Her last service was the 10th December after which we thanked herfor herse￿1￿ with us. She held an open house in the aftemoon for people to visit and say goodbye. In 2024 the process will begin the process of finding a new Team Vicarto develop our outreach onto the estates in Gaywood. Church SeThices Our regular service pattem continued throughout 2023 as below.. Sundays.. 8am BCP Holy Communion. 9.45am Holy Communion. Sunday evening services at 6.30pm were on the 2nd and last Sundays in the month. Mosl 9.45am services were livestreamed and ourgathered congregation online remains steady. It is a wonderful way lo ensure Ihat our members are able to access church even if they are not able to physically getto Ihe service on any particularweek. Note: The Methodist Service is not livestreamed. When manychurches across the county have now stopped streaming, ours remains an importantwitness online. The Wednesday weekday service at 10am conts'nues with a small but dedicated congregation and is often a service where people feel comfortable to drop in when they can. Unfortunately, meeting fortealcoffee afterwards in the Hub has not really got off the ground,due to the lack of volunteersto do it. The newly forrned Julian Meeting, a twice monthly contemplative prayergroup is meeting in the Hub on the 4th Thursdays at 5-6pm and is welcomed by a small group of regulars. It is registered with the Julian Meetings nationaly and so is open to anyone, but we have not yet been joined by anyone outside of our own church family. Our Easter, Harvest and Christmas services were well attended as ever and we were delighted to welcome families- some new and many regulars who visitwith us at these special times each year. Lrfe Events Also known as Occasional Off ices. these services are an importantoutreach and witness to the communityin which we all serve and St. Faith's continues to hold a special place in the hearts of the people in Gaywood. We were pleased to hold 23 baptisms, 4 weddings and a total of 45 funerals during the year. These numbers don't mean much on their own, but ifwe took an average of 30 guests al a baptism and 50 al both weddings and funerals, then we have welcomed over 3,000 people in the past 12 months just for these events. They remain an important outreach and connection inlo our community. Fundraising Our Fete Committee and our fundraising teams have worked extremely hard this year and our coffee momings. fairs and social events are now fimily back in the church diary and. as well as raising much needed funds for church. provide us all with the opportunity to come togetherwilh each other and to open our doors to the locals to join in with us. Many thanks musl go to all those whowork so tirelessly behind the scenes lo make these events run safely and smoothly. Bellringing Page 5 A special thanks must go to all of our bellringers. We are so very blessed to have such a dedicated team and that the bells of St. Faith's can be heard across the town on a weekly basis. It is an importantwitness and brings such joy to many, including me. All in all. St. Faith's continues to seek to be a place of welcome, building on 50 years of sharing and caring foreach other. We lookforward to 2024. to joining in with God's plan for Gaywood, and to continue to be flourishing together. Financial review Once again St Faith's was able to pay it's Parish Share and Circuit Assessment in full by drawing on its reserves. During the since it opened The Hub generaled a surplus of just under £2,300. This has been ring-fenced for the rna1ntenan￿ of Ihe The Hub. Resenies policy 11 is th e Ch u rch Cou ncil's policy to aim to maintain a balance in the free reserves equ ivalent to at least tr￿0 months normal running expenses. including Pansh Share and the Methodist assessment. This balance will be used to assist with cashflow and lo meet any unforeseen expenses as required. Volunteers Neady all activities are facilitated by volunteers withoutwhose active support very few of our Church acb'vities would be able to take place. Structure. governance and management The Church Council operates in accordance with its approved constitution. It acts as the Parochial Church Council orthe Methodist Church Council when necessary. It is made up of elected members and ex officio members who are elected in accordance with the con stitution. It meets a number of times each year and assumes all the pastoral, evangelistic, social, financial and ecumenical responsibilities. The following are its appoinled committees- Finance Committee Bu ildings and Fabric Committee Outreach Committee Children and Youth Committee Fund Raising Committee Pastoral Committee Worship Consultation Committee Magazine Committee offi￿ Management Committee. Page 6 The Management Group has a co-ordinating role and makes recommendations to the Church Council on the management of church affairs. This includes the oversight of the various committees. The Standing Committee meets to plan the agenda before each church Gouncil meeting. AdministratTve information St Faith's Ch urch is a local ecumenical partnership of Anglicans and Methodisls, and is in the Diocese of NO￿lCh and the West Norfolk Melhodisl Circuil of the East Anglia District. The correspondence address is St Faith's Church Otrice. Gayton Road, King's Lynn, PE30 4DZ Church Council Trustees 2023 Clergy Team Rector Methodist Minisler Team Vicar Revd Kyla Sorensen Revd Robert Roberts Revd Karlene Ke Elected Officers Churchwarden Susie Cranko-Page Churchwarden Chris Ballard Methodist Steward Joan Greening Circu itsteward (Co-opted) Rachel Vyse Church Treasurer Andy Hiles Elected Trustees Joyce Banham Robin Banham Sue Benstead Ruth Flint David Greening Gillian Hiles Richard Hooke Liz James Evelyn Nadar Richard Parr Joyce Stevens Matthew Stevenson Sarah Stevenson Liz Mbuth ia Tiffany Ridd Deanery Synod Rep Deanery Synod Rep Co-opted Co-opted Signed.............................-.... Signed................................... Date Date Page 7 Church Council of SL Faith's. Gaywood Statement ol Financial Activities Oncorporating Income & Expenditure Accounti For the year &nd•d 31 December 2023 Restricte Unrestricted Funds Total Funds 2023 2022 Funds Note INCOMING RESOURCES Incoming reSoU￿eS fmm donots Other voluntary incoming ￿SOurceS InconAing resources from ope$3ting actiwilies." - to further the Councffl's olyects to geneTrte funds Income from investment 2a 80,567 15.292 80,567 15,876 76.565 110,473 583 16.633 5.543 593 16,633 5.543 1.063 8.526 6.054 1.232 2d 2e 471 TOTAL INCOMING RESOURCES 118,629 1,054 119,683 202.850 RESOURCES EXPENDED Activities directly relating to the th of The Church Church management 2nd admIn￿tration Costs of generating funds 116.049 12.217 13 6.510 122,559 1.146 13,363 13 115.873 4,963 19 3b TOTAL RESOURCES EXPENDED 128.280 7.656 135,935 120,￿5 TRANSFERS BETWEEN FUNDS NET INCOMING RESOURCES BEFORE OTHER RECOGNISED GAINS AND LOSSES 19.6501 16.6021 116,2521 81,996 GAIN ON INVESTMENT ASSETS 566 18111 NET MOVEMENT IN FUNDS 19.0841 16,602} 115,6861 81,185 BALANCES BROUGHT FORWARD AT 1 JANUARY 2023 406.474 48.9CK) 455.374 372.058 BALANCES CARRIED FORWARD AT 31 DECEMBER 2023 397.390 42.298 439,688 453,243 Page 8 Church Council of SL Faith, Gaywood Balancè Shèet at 31st Dècember 2023 2023 2022 FIXED ASSETS Tangible fixed assets 387.305 366,676 Inveslment assets 4b 6.727 6,161 Gift Aid claimed 394,032 372,837 CURRENT ASSETS Debtors 15,015 16,519 Short lemi deposits ICBF funds) 15,356 39.288 Cash al bank and in hand 16.561 41.116 46.932 96,923 L￿BILlnEs.. AMOUNTS FALLING DUE ONE YEAR 1.277 16.517 NET CURRENT ASSETS 45.656 80.407 NET ASSETS 439,688 453,244 FUNDS 718 Unrestricted 419,988 404,344 Restricted 19.7C 48,900 439,688 453,244 Approved by the church council on and signed on ils behalf by= r. Andrew Hiles hAAAT Treasurer Date_.-.---.-- The notes on pages 13 lo 16 fomi part of these financial statemenls Page 9 Accounting policies The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 togetherwith the applicable accounting stsndards, the Charities SORP 2005 and in accordance with the relevant requirements of FRS 102. The financial statements have been prepared under the hislorical cost convention except for the valuation of investment assets, which are shown at market value. Funds General funds represent the funds of the church Gouncil that are not subjectto any restriction s regarding their use and are available for application on the general pu rposes of the ch urch council. Funds designated for a parbcular purpose by the church council are also u nrestricted. Reslricted funds are those funds that may only be spent on the specific object for which they were given. Any balance remaining unspent at the year end must be carried forward as a balance on that fund. The purpose and details of these funds are provided in note 8. Incomlng resources Voluntary income and capital resources Collections are recognized when received by or on behalf of the church council. Planned giving receivable under GiftAid is recognized only when received. Tax recoverable on Gift Aid donations is recognized when the donation is recognized. Grants and legacies to the church council are accounted foras soon as the church council is notif led of its legal entitlement, the amou nl due is quantifiable and its u Itimate receipt by the church council is reasonably certain. Funds raised by any fete, garden paty and similar event are accounted forgross. Other income Rental income from the letting of church premises is recognized when the rent is due. Income from investments Dividends are accounted for when due and payable. and interest entidements are accounted for as Ihey accrue. Tax recoverable on such income is recognized in the same accounting year. Gains and losses on investments Realized gains or losses are recognized when inveslments are sold. Unrealized gains or losses are accounted foron revaluation of investments at 31 December. Resources used Outgoing resources are recognised as soon as there is a legal or constructive obligation commitbng the church council to pay put resource. Grants Grants and donations are accounted forwhen paid over, or when awarded, if that award creales a binding obligation on the church council. Page 10 Activities relating directly to the work of the Church The diocesarb parish share and Methodist contribution are accounted forwhen paid. Any parish share or Methodist contribution unpaid at 31 December is provided for in tt)ese financial statements as an operational (though not a legal) liability and is shown as a creditor in the balan ce sheet. Fixed assets Consecrated propety and movable church furnishings Consecrated and beneficed pioperty of any kind is excluded from the financial statements by s.9612){a) of the Charities Act 1993. Movable church fumishings held by the vicar and churchwardens on special tnjst forthe chu rch council and wh ich requ ire a facu lty for disposal are accou nted for as inalien able property unless consecrated. They are listed in the church's inventory, which can be inspected (at any reasonable b'me). For inalienable propety acquired prior lo 2000 there is insufficient Gost information available and therefore such assets are not valued in the financial statements. Items acquired since 1 January 2000 have been capitalized and depreciated in the financial statements over their cu tTendy anticipated usefu l economic life on a straight-line basis. starting in the first complete year after their acqu isilion. All expenditu re incurred in the year on consecrated or beneficed buildings. in dividual items under £1000 or on the repairof movable church fumishings acquired before 1 January 2000 is written off. Other fixtures, fittlngs and office equlpment Equ iprnenl used wilh in the ch urch premises is depreciated on a straight-line basis over 10 years. Individual items with a purchase prtce of £1000 or less are written off when the asset is acqu ired. Church Bungalow/ The St Faith's Community Hub Most of the cost of converting the fomer Church Bungalow into the The St Faith's Community Hub has been capitalised in sections. 1. The c05t of the building works have been shown in the accounts as an Addition to the value ofthe building.Al some pointThe Hub will be revalued professionally and any change in the valuab'on will be taken to the SOFA to reflect the revaluation. 2. The cost of installing new doors. refu rbishing Ihe kitchen and utility room, in stalling Ihe new toilets, and the electrical works carried out are shown as Fixtures and Fittings. These items will be depreciated on a straight line basis over 25 years. The remainder of the costs have been treated as revenue items. Investments Investments are valued at market value at 31 December. Page11 Current assets Amounts owing to the church council at 31 December in respect of fees, rents or other income are shown as debtors less provision foramounts that may prove uncollectable. Short-term deposits include cash held on deposit either with Ihe CBF Church of England Funds or atthe bank. Liabilities: amounts falling due within one year Amou nts owed by the church council at 31 December in respect of fees, clergy expenses or otherexpenditure are shown as creditors. Page 12 Church Council of SL Faith, Gaywood Notes to the Financial Statements for the year Ènded 31 December 2023 Restricted fund$ Total funds Unréstri¢ted funds des¢riplion 2023 2022 INCOMING RESOURCES 28 Incoming resources from dolp￿3 Planned giving Gift Aid claimed Baptisrns. weddings and funerals General collections 61.103 14.795 403 4.265 80.567 61.103 14,795 403 4,265 80.567 57,821 14,793 482 3,470 76.565 2b Other voluntary incoming resources Donations and general bequests Grants received Bungalow Legacies 3.633 11,659 3.688 12,188 31,652 78.821 529 15.292 583 15.876 110,473 2c In¢orning resources fnyn operating activilies." to further the Council's objects Fees Hub hirers Other income 5.176 6,756 4.702 16.633 5,176 6,756 4.702 16,633 8.526 2,566 11.092 2d Incoming resources from operating activities." to generate funds Church office printing Church office mis¢ellaneous income Fund-raising 103 103 40 5.440 5.543 5,440 5.543 3.448 3,488 2e Income from investment CBF Deposit Fund and bank interest Charities Investment Fund dividends 455 471 925 138 1.063 1,048 593 471 1.232 TOTAL INCOMING RESOURCES 118.629 1,054 119,683 202.851 Church olfiGe miscellaneous income (Note 2dl has beert re