Charlty r8glstratlon number 1170906 NEWPORT AND CARISBROOKE PCC ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
NEWPORT AND CARISBROOKE PCC LEGALAND ADMINISTRATIVE INFORMATION Trustees MrTAHaftlen Mrs J Holliday Rev S A SuldSffe M E Brell-Hil Mr D G Salter Mr R H Smoul Mr P J VVhillo¢k A C HtI Mr P Hewill Mr A G Timbrell MrSASSmilh AS Smoul R E Chambers Ms G L Torrlnylon Mr P B Ednay Mrs Stephani6 Taylor Rev E Cooksey MT A Rolf Ms L Grundon Ms D Cook Ms P Stevènson (Appoinled 6 January 20221 (Appointed 14 May 2024) IAppoint8d 14 May 2024) (Appointed 14 May 2024) (Appoinled 30April 2023) Charlty number 1170906 Prln¢ipal address The Parish C8nlre Town Lane Nèwport Isle of Wight P030 IJU Auditor CompassAccounlanls LlmSled Venture House Thè Tanneries Easl Slreel Titchfield Harnpshlre P014 4AR Websltè Emall www.newportm5nsler.ofg optsral1onsm8nager@cofeheartlght.0rg
NEWPORT AND CARISBROOKE PCC CONTENTS Pag8 Trusteès. reptsrt Independenl audilorfs ieport Slalemenl of financial aclivilie8 Balance sheet Notes lo th8 financial stalèmenls 11-25
NEWPORT AND CARISBROOKE PCC TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The trusl8es pr&sent their annval r&port and financial statements for Ihe year ended 31 Decembèr 2022. The finan¢lal $18temenls have been prepared in accordance with the accounting policie$ sel out in note 110 the financial statements and comply with Ihe Parish's Charitable objects. the Charilies Act 2011 and 'Accounling and R&poriing by Charities.. Slalemenl of Recommended Praelice applicable lo charities preparing their accounts in accoidanoe with the Finanoal R$porting Slandaid applicable in the UK and RepubliG of118land {FRS 1021. las amended foi accounting periods cornmenoing Iiom l January 20191 Obl•¢tlvg$ and a¢tlvltl&$ The Parish's objects are lo promote in the Parish the whole mission of the Church. pastOTal. evangelistic. social and @cumènical. The objacls are govemed by the Parochial Church Councils IPow8rsl Measur8 1956 as amèndèd and th& Church Rèpresenlalion Rul&s {¢ont8in8d in Schedulè 3 lo Ihe Synodical GovÈinmenl Measure 1969 as amend8d}. The Trustees are aware of lh8 Chailly Commisslon's guldancg and requlr&menls on publlc benefit In Ihe Advancement of Religion foi IhB Publi¢ Benefit and have due regaid to il in Ih8ir adminislralion of the PCC. As part ol ils general promotion of the whole mission of Ihe Chuich Ihe PCC provides a benefil lo the public by providing facilities for public worship. pastoral care and sociable aciivilies both lor ils members and for anyone who wishes lo benefit from what the Church offers- and by pron701ing Christian values and service by membar$ of Ihe Churd) In and lo their ¢ommunitles, lo th8 benefit of indivlduals and society as a whole. As a parish we do much for our bcal communily. In 2022 to name bul a few things.. we provided o space for 44 diffenI community groups across our three halls on a wèèkly basis, as well as, offering 8 sp8¢8 for evenl$ and training for the dèanery and Diocese and for 8d Èvenls and celebrations In our ¢ommunily loo. In 2022 we ¢arrled out 18 weddings, 43 funeral3 and 28 b3pli5rns, we saw 8ppiox. 5000 people across the Christmas events and services held in the p3rish. we knilled and gave out approx. 1600 angels and stars, we helped approx. 2000 people mourn the death of the Queen, we have lead assemblies and worship regularfy al thre8 of our local s¢hoo15. Wo have helped lo govern some ol our local s¢hools, we offered Chall$rbox loddl¢r group foi free. we offered waim hubs and coff¢ts mornlngs for fr8tr, wts hold a woekly lunch dub, held free larnily fun evenls and we supporied our local food bank. In 2022. we have raised money foT many charilies and causes. We have also offeTed pastoral supporl for those in the communily and we pray lor our local community daily. We have offered worship weekly both in person and on-line and have oflered a safe space lor people. And all of our minlslry, misslon and charily work that we do Ss onty possible because of the dedi¢aled and hardworking team of volunteers. The first phase of building work al Newpori Minster has now been completed, which means Ihal Ihe building is now walertlght and will be removed off the al-risk Te9lSt6r. Al Ihe end of 2022. Ihe building was onc8 again closed lo make way for propatalory wtsik befor9 pha two in10rnal work commence in 2023. The Fiiend5 of the Minster Church of Saints Thomas, Newpowl conlinup theii efft>rts in allempling lo iaise fund 10 8UPPOrt the resloralion appeal of ihe Minster. Stnjcturei governance and management On 2 June 2020. the Parochial Church Council of Ihe Eccleslaslical Parish of Ihe Minster Church of Sl Thomas Ihg Aposlle and Sl Thomas of Canterbury Newport, was merged with th¢ Paro¢hial Church Councll ol Ihe Ec¢lesiasli¢al Parish of Sl John's, Newport and also Ihe Parochlal Church Council of the Ec¢l85iaslical Paiish of Sl Mary the Virgin, Caiisbrotske lo foim a new slnglts Parish. As Newport Minster was registered as a charily. Ihese accounts refflect the continuance of that charity wilh the merger ofchurches., the charily name was changed lo Newport and Carisbrooke PCC. As a PCC we have mel 9 tlmes durinu the yeaf as well as Ihe APCM. The P8rl8h PCC cons1818 of Team Vicars, Churcliwardens, elected PCC members, Deanery Synod members and a co-opted member. As well as the Parish PCC. new church counci18 have been Sel up (DCCI to replace the old PCC In each church. Other ommillegs and working parties ofe made up on an ad ho¢ basis from members of Ihe PCC and wld&r congr&gallons. Tho Fiends of Carisbrooke Chur¢h is currenlly a sub commill$& of the PCC. A financa team mols periodlcally throughout tho year. A Pastoral Team Is 8cf6ve In fhg Parlsh.
NEWPORT AND CARISBROOKE PCC TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Th8 beginnlng of 2022 saw the deparlure of our Team Rector, and shortly afterwards our CUTale. Our Lay Readers stepped up to the mark and have led and preached al more services across Ihe parish. Pto's also helped lo lead worship across the parlsh. The smallor ministry team has also beon an opportunily lo revièw the worship that we offer and work more In partner8hip a¢ross the parlsh. The Iruslees who served during Ihe year and up ID Ihe dale of signature of the financial slal8menls wer6.. Mr8 T Osborn Mrs M E Groves Mr T A Harden Mrs J Holliday The Venerable P Leonard Mr M P Groves H F Bairaclough Rev S A Sulcli C I ltyhalley M E Bretl-HÉll Mr D G Salter MrR H Smoul Mr P J Vvhillock A C Hewlll Mr P Howill MrA G Timbr@11 Mr J A Mallhews MrSASSmilh CJHull A S Smotjl R E Chambers Ms G L Torrington F Harbridge Mr P B Ednay Mts Stephanie Tayltsr Rev E Cooksey MIA Rolf Ms L Grundon Ms D Cook Ms P Stevenson {R¥slgned 20 JL¢ly 2022) {Resigned 18 Odober 20221 {Resigned 31 March 2022) {R@signed 18 October 2022) {Resigned 31 Mar¢h 2022} (Resigned 30April 2023) (Resigned 30 November2023) (Resigned 30 MaTch 2024) (Resignèd 28 February 2022) (Appointed 6 January 2022) (Appointed 14 May 20241 {Appointed 14 May 20241 {Appoinled 14 May 2024) {Appolnled 30 April 2023) Achievemènts and p•rfom)an¢e Financlal revlew The Parish generated income on unrestricted funds of £236,231 (2021 £252.229} in the year, and incurred expenditure of £219,77312021 £251,091). After investment losses of £4.032 12021 £1.934 gain) there was surplus on genÈr21 futids of £12.426 {2021 £3.072). The reslricled funds . mainly cor)6i81ing of IhB restoration projts¢ts generated 8 combkned surp$ of £283,441 12021 £69,134). Therefore reslricled funds gTew lo £499,12512021 £215.6841. Those iepresenl funds whlch wlll be spent on restoration and olher projects in future periods, and are clearly subject lo the liming and ro¢ogn511on of the receipts of grants. This look the nel as$e18 10 £634,944 (2021- £339,077), with £135,819 (2021- £123.393} on unrestricted funds.
NEWPORT AND CARISBROOKE PCC TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 The parish has not been able lo pay Ihè PaTish Share In full lo the Portsmouth Diocese. The combined arrears balance brought fOard of £192.719, grew in the year by £53,321 to £248.040. As these are not a legal obligalion. the arrears is not included wilhin th8 financial accounts, bul Ihe Parish remains Commilled lo making good th8 arrears over lime, and restoring thè gènèral funds lo 8 83k-even position wllh Ihe full payment of pailsh share. Accounts ld for others: The church adrninislers the assets of a separate Trusl -the Upper Alms Houses a separate registered charily, holding 2 Alms House properties in the town. The Iruslees of Ihis Trusl are the Incumbent and Chur¢hwardens of the Parish. A balance of £11,218 was held {2021 - £14.057}. Reserves: The PCC Iruslees aim lo maintain build up over the next few years flee reserves in unreslricled funds al a le1 whh equales Io 8pproxim8lely six monlhs of unreslri¢tad exponthlurg for each church Inol Includlng Psrish Shaiel. Th8 Paiish as a whole has free r@s9nS IUnrestrict8d Ivnds lèss Ihos8 lied up in dèsign818d lunds or fixed a8selsl of£40,69112021- £16,646). statement of trustees. responsibllilies The Iruslees are responsible lor preparing Ih? Trustees, Report and the financial slalemenls in accordance with applicable law and Uniled Kingdom Accounting Slandards (United Klngdom Generally Accepted Accounting Pradi¢g). The law applicabltr lo charill6s In England and Wale¥ requiies the Iwslee5 to prepaTe financial slalemenls for each financial year which givè a Iiue and fair view of the stalo of affaiis of the Paiish and of the incoming resources and applicalion ol resources of the Parish for Ihal year. In preparing Ihese finan¢lal slalèrnenls, the Iruslees are required lo.. select sullable accounlSng policies and then apply them consislenlty.. - observe Ihg mollYJds and prlnclplgs In the Charllies SORP.. make judgements and e51Nnale8 that ale reasonable and prudenl., stale whether applicable accounling standards have been folbjwed, subjecl to any Mate01 departures dis¢losed and explained in the financial stalementS-, and prepare Ihe fina181 slalemenls on the going concern basis unless il is inappropriatè lo presume that the charily will continue in operation. The Iruslees are responsible for keeping sufficlgnl a¢¢ounling Tecords that disclose with reasonablo aUr8¢Y al any Ilme the financial poslllon ol the Parlsh and ¢nabl¢ them lo ensurtr that Ihg financial slalgmenls comply wilh Chaiilios Act 2011, the Charlly {A¢¢ounls and Ropotls} Rtrgulallon8 2008 and Ihè provisions of the trust deed. They are also rtssponslbla for safeguarding the as5els of the Parish and hence for taking reasonable sleps for Ihe prevention and detection of fraud and other irregularities. The tru s, report was approved by the Board of Trustees. Rev S A Sutcllffg Trustee Daled.. 16 August 2024
NEWPORT AND CARISBROOKE PCC INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NEVVPORT AND CARISBROOKE PCC Opinlon We have audiled the financaal slalemenls of Newport and Carisbrook8 PCC (the 'cha¥ill} for tho yoar ènded 3141 December 2022 which Comprise the Slalemenl of Financial Aclivilles. tho Balan¢e Shèet, the Slalemenl of Cash Flows and nol8s lo th& Inancial slatemtsnls, Induding si9rMficanl ac¢ounling PDIici85. The financial reporiing framtswork Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Slandards. including Financial Reporting Slandard 102 Tha Financial Reporting Slandard applicable in the UK anLI Republio of Iland (United Kingdom Generally Accepted Accounting Praclicel. In our oplnlon, the Ilnancial glalemenl$: glvo a Iruo and fair view of Iho Slalg of lh8 ch8rity'5 affairs as al 31EI December 2022, and of ils Incoming rosour¢es and applicalitsn of resoui¢es, including 118 income and expenditure, for the year then ended,. havè been properly prepared In a¢cordan¢e wilh United Kingdom GeneTally Accepted Accounting Practice., and hav6 been pr¢pared In accordan¢ts wilh Ihtr requirernen18 of th& Charitie8 Act 2011. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UKI) and appll¢able law. Our responsibilities undèr thos8 Standards arè furthgr describad in the Auditor's re$ponsibililie8 for the audit of the financial stalempnls section ol our report. We ale independent of the charily in accordance wilh the ethical iequiremenls that ale relevanl lo our avdil of the financial slalemenls in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance wilh these requSrem¢nls. We belleve that the audit evidence we have obl?ined is surfi¢ienl and approprlale lo provido a basis for oui opinion. Other mjtter The MparatIVe Ilgureswere not subject lo audll. Concluslons rèlatlng to golng concèrn In audiling the financial s(alements, we haw concluded Ih8t tho IruslBes' use of the going concein basi8 of aOntIng In the preparation of Ihg finan¢lal slaltsmenls is approprialè. Based on the work we have perfoimed. we have nol idenlrfied any maleri81 un¢ertainlies relating lo events or conditions that, individually or collèctively, may cast significant doubl on the ¢harills ablllly lo ¢onllnue as a going concern for a period of 8t least Iwelvè monlhs Irom when Ihe financi818lalemenls are aulhoiised for is$ue. Our respon8ibililie8 and the responsibilities of the trustees with respect to going concern aTe described in lh8 Televanl seclions of this reporl. Oth¥r Information Thé olhèr informalion comprises thè inlorm81ion included In Ihe Iruslees, annual report, olher than Ihe financial sl8temènts and our 8udllor'8 report Ihereon. The Iruslees a responsible for the other information. Our opinion on Ihe financial slalemenls doe8 not cover the other information and we do not express any form of assuranc8 condusion there1. Our responsibility is lo read the other informalii)n and. In dt)Sng $0, ¢onsidtrr whelhor the other infoimalion is m81erlally Inconsistent wllh the finandal slalemenls or our knowlodgo oblalned In the audit 01 olheFwise appeals lo be m8lerlally ml$sl8led. If we identify su¢h material in¢onsi$len¢ies or apparenl material misslalemenls. we are requlred lo determine whether Ihls gives rise lo a malerlal misstalernenl in the financial sialemenls themselves. If, based on Ihe work we have performed, we conclude that there Is a material missialemenl of Ihis other information, we are requlred lo report that Wo have nolhlng lo r$port In Ihls regard.
NEWPORT AND CARISBROOKE PCC INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF NEWPORT AND CARISBROOKE PCC Matters on whlch we are roquirèd to rèptsrt by èxception We have nothing lo report in respecl of the following mallers in relation to which the Chaiilies (Accounts and R¢ports) Regulations 2C¥)8 require us lo report lo you if, in our opinion.. the information giv8n in th8 Iruslees, r8POrt is inconsislenl in any maleiial respect with lh8 financial st8lemonls,' or sutricient aOUntIng records have not bèen kept.. or the financial slalem8nls are nol in agreement with the accounting records., or wè have nol ieceived all the infoimalion and explanations w& rtsquirts for our audll. R&$pon$lbilitle$ of twste08 As oxplained more fully in the trustees. responsibilities statement sel out on page 3. the Iruslees are responsible for the preparalion of Ih? finan¢lal slalemenls and for being salislied Ihal they givo a true and fair view, and for such inlemal control a8 the trustees determine is neces8ary to onable tho preparatlon of finanaal slalemanls that are fr8e from material misslalemenl, whethèr due to Iiaud or error. In preparing the financial slalemenls, the Iruslees are responsibl& for assessing the d)arity's abilily lo continue as a golng con¢ein, dlsdosSng, as applicable, mallers re181ed lo golng concern and using the going ¢on¢ein b8s1s of accounting unless the Irusleès eilher intend lo Ilquidale the charily or lo ¢ea8e operallons, or have no realislic alternative but lo do so. AMdIl0$ re$pon81bllltle$ for the audlt of the financlal $tat•ments We have been appolnled as auditor undtrr Section 144 of Ihtr Charllles A(1 2011 and roport in accordance wilh th& Acl and ¥elevanl iegulalions made 01 having effect Iheieunder. Our objeclives are to obtain reasonable assurance about whether the financial slatements as a whole aTe free from material mi$8181emenl, wh8th8r duè lo fraltd or èrror, and to issue an aUdoIS report thal includes our opinion. Reasonable a$sur8nce is a high lÈvÈl of assurance bul is not a guarantèè that an 8udil eonduclÈd in accordance with ISAS IUKI will always delecl a material misslalemenl when il exists. Misslalernenls can aii8e from fraud or error and are considered material if, individually or in Ihe aggregate, they could reasonably be expected lo influence the economic d8olslons of users taken on the basls of Ihese financial staloments. Irregularities, including Iiaud. are iTrslans of non.compliance with laws and regulations. We design procedures in line with our responsibililies, outlined above, lo delecl material misslalemenls in respect of irregularities, including frayd. The specific procedu$ for this engagement and the exlenl lo which these are capable of delecling irr&uularilia8. including fraud18 dtrlalled below. We gained an understanding of the legal and regulatory framework applicable to the charity and the sector In whlch11 operates Ihrough discussions wilh man8g&m8nl, sector ras8arch. and Ihe appllcAlion of r818vant audit knowledge and experience We made enquiries of management arouThl actual and polenlial liligation and daims We made enquirles of management and relevant slaff, and designed our audil procedures, incfudin9 revlewing financial slat?ment digclosures ond lesling of supporting documenlalion, lo assess ¢ompllan wilh applicablo laws and r&gulalions. W8 focussed on laws and regulations which could give rise to mattsrlal misslalemenl in the financial slaltsmenls In¢ludlng. bul not Ilmiled lo, Ihe Charllles Act 2011, the Chaiillo$ SORP, and the Financial Reporling Slandaid 102. We identified the rlsk of malÈri81 mi$slalemenl of Ihe financial statements due lo fraud and designed audit procedures lo respond lo the risk. We pèrformèd audit pro¢edure$ designed lo address the rlsk of fraud arising from management ove¥ride ol controls, including, bul not limiled lo, le81ing of journal enlfies and other adjuslmenls, reviewing accounting eslimales for evidence of bia5. and evalualing the bLFsiness rallonalo ol slgnificant transactions outside Ihg normal course ol busines5
NEWPORT AND CARISBROOKE PCC INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NEWPORT AND CARISBROOKE PCC B&caus6 of the inher@nt limitations of an audit. there is a risk that wa will not d8t&ct 811 irr8gularili&s. including those leading lo a material missl818mant in the financial statéménts or non-compliancé wilh regulalion. This risk incieases the mole Ihal cornpliance with a law or ¥e9ulalion 15 removed from Ihe events and Iran88Ctions reflected in the financial slalemenls, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularilies o¢curring due lo fraud rather than error, as fraud involves inlfynlional ¢on¢ealmenl, folgery. collusion. omlssion or misrepresentslion. A furlh&r descripllon of our responsiblfilles for the audit of the Ionancial stalem8nls is loca18d on the FinancAal Reporting Coun1,$ website al.. www.frc.OTg.uklaudilorsresponsibililies. This descriplion forms pari of our auditor's reporl. Because of Ihe Inherent limilallons of an audit. Iheie 1$ a iisk that wè will not dèlect all irregularities, including those leading lo a material misslalement in the ffinancial slalemenls or non-compliance with regulation. This iisk incr8as&s th& mor@ that complianc8 wilh a law or regulation is removad Irom the @vents ènd transactions rellÉete In the flnan¢lal slalemenls, as we w511 be less Ilkely lo become aware of Ins18nces of non-compliance. The risk Is also greater regaiding iriegulaiilies occuiring due lo fraud ralheT than error, as fraud involves inler)lional concealmer)l. forgery. collusion. omission or misrepreser)lalion. A further des¢rlplK)n of our responslbililles for the audit ol the financial slaltsmonls Is lo¢alo¢J on Ihb Financial Reporting Council's w8b8ile al.. www.ff¢.org.ukJauditorsre$ponsibililies. This description fomis part of OUT auditor'8 teport. Use of our report This reporl 18 made Solely lo Ihe charily's Iwslees, 88 a body, in ac¢oidan¢e with part 4 of Ihe Charities (Accounts and Reports) Regulations 2008. Our audit wort( has been undertaken so Ihal we mlghl slate lo the charity's IrLJStees Ihose mallers we are required lo stale lo them in an auditor's report and for no olher purpose. To the lull@st extent permitled by law. wè do not accept or assvme responsibility lo anyone other Ihan tho charily and tha charily's trustee body, foi our audit work, forlhls ieport, or for the oplnlons we have formed. mpas Aeeoun ants Llmlted 2 (171 *OC6Jgr 2o£lk Ch ered Accountants statutory Audltor Venture House The Tanneries East Street Tilchfield Hampshire P0144AR Compass Accounlanls Llmiled Is ellglble for appointm¢nl as audllor ol the ¢harSly by vlrtue of Ils tsllgibilily for appolnlmenl as audllr>r ol a ¢ompany undel section 1212 of the Companles A¢1 2008.
NEWPORT AND CARISBROOKE PCC STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Current financial yoar Unrestrlcted Rè8trlctsd funds fund$ 1022 2022 Totsl Total 2022 2021 Notss Income and endowments from: Donalions and legacies Charitable activities Investments Other income 157.244 64,570 97 17,037 1,228.755 1,383.999 14,074 78,6d4 97 17.037 317,957 51,158 1.154 12.784 Total income 238,948 1.240.829 1,479,777 383,053 Ex enditure on: Raising funds 1,023 1.023 1.483 Charitable a¢livilies 216.276 957.388 1,172,664 311,298 Total expendilure 216,299 957,388 1,173.687 312.781 Net gainsl{lossesl on investments 11 (4.0321 {4,032) 1,934 Net movemgnt In fvnd$ 18,617 283,441 302,058 72,206 Fund ba18nces at l January 2022 123.393 215.684 339.077 266,871 Fund balancè$ at 31 Dètèmb•r 2022 142,010 499.125 641,135 339,077 Th? slalgmfynl of financial activities includes all galn$ 8nd10$8es recognised in the year. All income and expenditure derivg from conlinuing activities.
NEWPORT AND CARISBROOKE PCC STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Prlorfinan¢lal year Unrestrlcted R95trict8d fund¥ funds 2021 2021 Total 2021 Note$ Ineomè and Èndowmènt8 from.. Donallons and legacles Charilabl6 aclivilies Investments Other income 189.189 49.102 1.154 12,784 128,788 2,056 317,957 51,158 1,154 12,784 Total Income 252.229 130,824 383,053 Ex anditura on: Ralsing funds 1.483 1.483 Ch81itabl8 acti11$ 249,608 61.690 311,298 Totsl oxpgndlturg 251,091 61,690 312,781 Nel y8insl{Ioss8sI on investmènts 11 1.934 1,934 N•t movomènt in funds 3.072 69,134 72,206 Fund balances al 1 January 2021 120,321 146,550 266,871 Fund balances at 31 De¢emher 2021 123.393 215.684 339.077
NEWPORT AND CARISBROOKE PCC BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Note$ Flxed assots Tangible assels Irweslmen18 13 14 20,004 29,751 25,603 33,783 49.755 59.386 Current assets stod(s Debtors Cash al bank and in hand 15 16 985 27,783 280,961 31,487 599,314 831.301 309,729 Credltors: amounts falllng dua wlthln one year 17 (39.921) (30,038) N8t currenl assèts 591.380 279.891 Total assets less current Ilabllitle8 641,135 339,077 Income funds Reslricled lunds Unreslricled funds Desiynaled funds Gene181 unreslri¢ted lunds 18 499.125 215,884 19 68,944 73,066 21.144 102,249 142,010 123,393 641,135 339,077 The financial sialemenls were approved by the Trustees on 18 August 2024 Rev S A Sut¢li Trusteé Ms G L Torringlon Trustee
NEWPORT AND CARISBROOKE PCC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Not9$ Cash flows from operatlng acilvltles Cash generated from operalions 23 318,256 58,660 Invèstlng 4ctlvltl8s Inveslmenl income receive(J 97 1,154 Net cash generated from Investlng actlvltlos 97 1,154 Nèt Cash u$od in financing activltiO8 Nt Incroa$e In ¢a$h •nd ¢8$h equlv4lnts 318,353 59,814 Cash and cash eqEtivalents al beginning of year 280.961 221.147 Cash and ¢a$h oqulvalonts at ond of yoar 599,314 280.961 10-
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Aecountlng poll¢l•$ Charlty Informatlon Newport and Carisbrooke PCC is 4 registered charily. The Charity Ss raglslered un(ler number 1170906, and was formedy known as The Parochial Church Council ol IhB Ecclesia51ical Paii5h of the Minster Church of Sl Thomas Ihts Apo$ll8 and Sl Thomas of Canlerbury, Newport. and was al80 is known under Ihe workin9 name of Newport Minster. 1.1 Aeeountlng ¢onventlon Th¢ financial slalemenls havo beon preparod in a¢coTdance with the Church Accounting Regulations. Ihe Charities Act 2011, FRS 102 "The Financial Repotling Standard applicable in the UK and Republic of Ireland" I'FRS 102,) and the Charities SORP 'Accounling and Reporting by Charilies.. Slalemenl of Recommanded Praclice applicable to cha¥ilies preparing their accounts in a¢¢ordan¢e with tho Flnancial Reporting Standard applicable in the UK and Republ1¢ of Ireland IFRS 1021. The Parfsh Is a Public Benefit Enlily as Ifefined by FRS 102. The financial slaternenls have departed from Ihe Charities (A¢unIS and Roportsl Regulalion$ 2008 only lo th8 @xt8nt required lo provlde a true and falr view. Th58 departure has involved following Ihg Slalemenl of Rècommended Piaclice for charities applylng FRS 102 rather than the version of the Slalement of Recommended Practice which is referred lo in the Regulations bul which has since been wilhdrawn. The finan¢lal sialem9nls are prepar&d In slerllng. whlch is the fun¢llonal currency of the Parf8h. Monetary amounts In these financial slalem8nls are rounded lo the neaTesl £. The financial slalemenls have been preparod und¢r the hislorl¢al cost ¢onvenlion. Imodified lo include Ihe revaluation of fre¢hold properties and to include Invtsslmenl prop8rti0s and certain financial insliumenls al fair valuel. The prIncI1 accounling pollcies adopted are sel out below. 1.2 Golng concern The Parish Church Council has lo balance ils general lund. whilst meeting the Parish Shar& to the Diocese. In recenl years the PCC has operaled with an annual d&fi¢S1. albeit now n)uch reduced. In addillon the r¢sloralion projoct granl nditionS required iesetve5 to be used in part funding of the project. The PCC Ihereforts gol Into a deficit position with the Parish Shale lo the Diocese, which the PCC intends lo reduce. Further on merger of the Parishes of Sl Johns, Newport. and Sl Marys Carisbrooke. the mbined parish has laken on increased indebtedness to the Diocese. The paiish share ar8$ do not constitute a ¢onlractual obligation, and therefore are not included as a liabilily in Ihese ac¢ounl$. Al the lime of approvlng the financlal slalemenls, thè Iruslees have a reasonable expectation that the Pari$h h85 adequate resources lo continue In operational existence for the foreseeable futur&. Thus Ihè Iru$l8eS continue lo adopt the going concern basis of accounting in preparing the financial slalèm8nts. 1.3 Charitable funds General funds represenl the funds of the PCC Ihal are not subject lo any reslriclions regarding Ihelr use and are available for application lor the general purposes of the PCC. Funds designated for a particular u8ts by IhB PCC are also unrestrieled. Restricted lunds are those funds Ihat musl be spent on reslri¢ted purposes and delalls of tho lunds and reslriclions are provided. Endowment funds are those where the ¢8pilal musl be malnlainod. The accounts include all Iransaclions. assets and liabilities for which the PCC Is responsible in law. They do not include the a¢¢ounls of ¢hur¢h groups Ihal owtr Ihelr main affilialion lo another body. noi those that are inform81 g8lhering$ of Church m&mbei$. 11
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng polScl¢s {Contlnuedl 1.4 Incomo Income is Tecognised when Parlsh is legally enlllled lo11 after any performance Conditions havè been mel, the arnounls can be measured reliably. and il 15 probable that income will be received. Cash donations are iecognised on Teceipt. Other donations are recognised once the Parish has been notified ol the donalion, unless performance conditions require deferral of the amount. Income lax recoverable in relation lo don81ions recèived undÉr GiftAid or deèds ol ¢oven8nl is reCOg$&d al Ihè lime of Ihe donation. Ltsgaaes are recognised on recelpl or olherwlso if the Parlsh has been nolifled of an impendlng disliibutltsn, the amount is known, and receipt is expected. If the amount is not known. thè legacy is Irealed as a contingent asset. Grants re*Vable induding goveinmenl grants are accounted for when the Charily is enlilled lo the grant. il can be quanlified. and 11$ receipt is pmbable. 1.5 Exponditur$ Expèns8s ar& alltscatad on the basis of lh8 aclivity lo which they relat8. Support costs ar8 8llocaled in full lo aclivilies dire¢lly relating lo the work of the church. The Parish Share represents the amount of money that the Charlty is asked lo ¢onlribule Its support the mission and mSnislry of the Church in the Dlocese of Portsmouth. 11 is accounted for when paid. Any Parish Share unpald al year end is included as a note lo these accounts as an opeTalional {ahhough not legal) liability. 1.6 Tanglbla fixèd assèts Tangible fixed assets are inilially measured 01 cost and subsequenlly measured al cost or Vaall¢n. nel of depreciation and any impairment knsses. Assets below £1,000 artr not Irealed as capllal Dgprecialion is iecognised so a5 lo write off the cost or valuation ol a55ets Ips5 theii Tesidual values over their Useful live8 on the folowing base8'. Plant and equipment 7- 20 % sliaighl line The gain or los$ afising on the disposal of an asset Is deleTmined as the diffèrence between the sale proceeds and the carrying value of Ihe assel. and is Tecognised in the slalemenl of financial aclivilies. Conseeral8d land and buildings and moveable church furnishings is excluded from Ihe accounts by t Charities Aet 2011. No valu6 is placed on moveable Church furnishings held by Ihe vicar and churchwardens On SPÉCI81 Irusl for the PCC and whl¢h rèquir8 a facully for disposal sincg the PCC considers this lo be inalienable property. All expenditure on buildings, pioperty and movable furnishings 15 wrillen off a5 expenditure n the Slalemenl of Financial Aclivilies. Tille lo the chuich ha118 are held by the Diocese of Portsmoulh and is not included iv) Ihese accounts. 1.7 Flxed asset Investments Fixed asset investments are inllially measuied al transaction price ex¢luding Iransadion ¢osls, and are Subsequently measured al fair value al each reporting dale. Changes in lair vaue are recognised In nel incomellexpendiluTe) for the year. Tiansaclion costs aTe expensed as incurred. 12-
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng policies {Contlnued} 1.8 Impairment of flxed assets Al each r8portlng end dale. the Parish ieviews the ¢arrylng amounts of ils tangible 2SS&ts to determine whether there Is any Indication that those assets have suNeTed an impairment loss. If any such indication exisls, the recoverable amount ol the ass81 is eslimaled in order lo determine the exlenl of the impairrnenl loss (if any). 1.9 stocks Stocks are slated al the l¢>wer ofcosl and e81imalfyd splling prlce less costs lo complete and sell. 1.10 Cash and eash equlvalents Cash and cash equivalents include cash In hand. deposils held al call with bahks. other short-lerm Ilquld investments with original malurilies of thre& months or lèss, and bank overdrafts. Bank overdrafls are shown within borrowings in current liabilities. 1.11 Flnanclal Instruments The Parish has elected to apply Iho provlslons of Sec¢lon 11 '8asic Financial In51rumenls' and Se¢fion 12 'Othgr Financial Inslrumenl818sues' of FRS 102 to all of119 financSal Instruments. Fir)ancial in51iumenls are re¢ognised in Ihe Parish's balance Shèot when the Parish becomès party to th8 ci)nlractual provisions of the inslrumenl. Financial assels and liabilitie5 ar& offs81, wilh tha n81 amounts presented in the financial slalernen18, when ihere is a legally enlorceable right lo sel off the recognlsod amounts and Ihere is an intention lo sellle on a nel bas18 or lo rè81is8 the asset and sellle the liability simullaneousty. Basle flnancial assets Basic financial assets. which Includts debtors and Cash and bank balances, are initially measured at Ifansadion price including transaction costs and are subsequently carried at amortised cost using Ihe effective inlerost melhod unless Ihe arrangement conslilule8 a finan¢ing Irans8clion. whère Ihe Iransacllon Is measured al Iha present valuè of the futur& receipts discounted al a market rale of intere81. Financial assots classified as ¥eceivable within onè year are nol amortised. Basle flnanclal Ilablllfl&s Basic financial liabilities. including crethlors and bank108ns are inilially recognised at transaction price unless th& arrangtsmtsnl ¢onslilules a financing Ifansacliori, where the debt in$lfumÈnt is mèastjred at the present value of Ihg future payments discounted al a market rale of Interest. Financial liabilitie5 classified as payablo wilhin one year are not amortlsed. Other creditors are obligations lo pay for goods or servi¢es Ihal have been acquired in Ihe ordinary course of OP8ralions from suppliers. Amounts payable are classified as current Ilabililies If paymenl is due within one ye8r or less. If not, Ihoy aro presented as non-currenl liab11[es. Dèrecognltlon of flnanclal Ilabllllie$ Financial IlabS1ilies are dèrécognised whgn the Parish's cor)Iraclual obligalions expire or are dIharged or eancelled. 1.12 Employèè b•n8fits The Cost of any unused holiday enlillemenl 18 recoonised In tho porlod In whi¢h Ihe employee's services aTe rÈ¢eived. 1.13 Retlremont benefits Payments lo defined conliibulion reliremenl b8n8fil schemes are charged as an expense as Ihey fall due. 13-
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policle$ Iconilnuèdl 1.14 Glfts In klnd Gllls in kind aTe Included at reasonable estimates of Iheir value lo the charSly, usually Ihe price that tha chaiity would have lo pay in the open market for an 8quivalenl ilem. Critlcal accounting e8timate$ and ludgèments In lh& application ol Ihè Parish's accounting pollclès, th8 truslÉes are requlred lo make ludgemenls, eslimales and assumptions abDuI the carrying amotjnl ol a55els and liabilities that are not readily apparent from other sources. The eslimales and associaled assumplioiis are based on historical experience and other factors th81 are considered lo be relevant. Actual resulls may differ from these estimates. The eslim8les and undertyh)g a8suniplion8 arts rovlewtrd on an ongoing basis. Revisi0115 to accovnllng eslim8les are recognised in the period whlch the eslimale 15 revised where the revision affecls only thal peiiod, or in Ihts period of the Tevision and fulure periods where the revision affects both Currenl and future periods. The Iruslees believe there a no stsch significant items. 14-
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NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charltable actlvltles 2022 2021 Church shop- book slall Church hall lelllngs Coffee shop income Fees Fundr#l$ing income Model chui¢h income Other incom8 174 38,079 6,505 14,797 18,259 742 88 331 22,352 3,859 18.656 S,313 78.644 51.158 Analysls by fund Unre51ricted funds R851ricted fund5 64,570 14,074 78.644 For tho year ended 31 Dè¢emb&r 2021 Unreslricled funds Resllicled funds 49,102 2,056 51,158 Other Income Unrostrl¢l&d Unre$trl¢tgd funds funds 2022 2021 Insurance claims receivable 17,037 12,784 Inv&stments Unre$trl¢tsd Unr&$tri¢t•d funds funds 2022 2021 loterest le¢eable 97 1,154 16-
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Ralslng funds Unrestrlcted Unre81rlcted fundy funds 2022 2021 Seeking donzlions, grants and legaclgs Stsging lundraising events 251 1,232 538 Fundraising and publicity 1,023 1,483 1.023 1.483 17-
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Charllabl• a¢tlvltlg$ Unrestricted Restrictod fund lund 2022 2022 Total Unrestrlctad Rastrlcted 2022 fund fund Z021 2021 Total 2021 Slalf costs Deprèci81ion Home missions & ¢harily Parish share Cleigy expenses Upkeep of Seviceg Church running costs Church mainlen8nce and ie51oialion Organlsl fee$ and church muslc Insurance Church h811 and vi¢arag& wnning co818 Church hall mainlenance costs Admini$1181ion- support costs Bank ¢harges- 8LlPPOrt ¢051s Fees lo diocese Accounts and Independenl èX8minallon. Governance Govprnance costs Othèr charitab18 oxpandilure 34,094 5,599 6.252 38,250 3.143 1.054 15.241 34.094 5,599 6,597 38.250 3.143 1.054 15,241 38,688 3,439 2,936 37,000 985 1,887 9.563 38.686 3,439 3,278 37,000 985 1.887 9.563 345 342 20,058 954.048 974,106 75,955 81.116 137,071 11.679 16,791 11,679 16.791 18.144 14.494 144 18,288 14.494 14,287 14.287 8.215 8.215 6.425 6.425 1.221 1,221 15.704 15,704 12.70D 12.700 145 10,758 145 10.758 163 15.861 88 2S1 15.861 6,529 3,447 2,995 9,524 3,447 2,618 5,741 2.618 5.741 5,820 5,820 215.276 957.388 1,172,664 249,608 61.690 311,298 215.276 957.388 1.172,864 249.808 61,e90 311.298 Analysls by fund Unreslricled funds Restricted funds 215.276 215,276 957.388 249.608 249,608 61,690 957.388 61,690 215,276 957,388 1,172,864 249,608 61,690 311,298 18-
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Trugtees The fr)Ilowing Iruslegs r1Ved r&munerallon from the Parfsh during the year {for servlces riot related lo being a TiusleBI as (letai18d below.. 2022 Salary Pgnslon Contributions £925 £0 2021 Salary Penslon Contrlbullons £21,154 £450 £2,997 £0 Ms G Torringlon- Operallons manager Mrs C Whalley- Cleaning £30.838 £2.968 10 Employees The avarage monlhty number of 8mploy86s during Ihè year was.. 2022 Numb&r 2021 Number Employment costs 2022 2021 Wages and $alailes Social security costs OlheT pension costs 32.794 35,949 2,287 450 1,300 34,094 38,686 There wer8 no employees whose annual remunèralton was morè Ihan £60,000. 11 Net galnBIIIo8sesl on Investments Unre$trl¢tèd Unrestrictèd funds funds 2022 2021 Revaluation of invgslments 14,032) 1,934 12 Taxatlon The charity is exernpl from lax on income and gains falling wilhin seclion 605 of thè Taxes Acl 1988 or section 252 of the Taxalionof Chargeable Gains Act 1992 to Ihe exlenl that these are appll¢d lo ils charilable objects. 19-
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 13 Tanglble fixed as8ets Plantand oqulprngnt Cost Al l January 2022 43,532 At 31 December 2022 43.532 Depreciatlon and Impairment Al 1 January 2022 O&pre¢iallon charged In Ihe year 17,929 5.599 Al 31 December 2022 23.528 Carrying amount Al 31 December 2022 20.004 Al 31 December 2021 25,603 14 Flx¢d assot Investm9nts Invo$tm&nts Cost or valuatlon Al 1 January 2022 Valualitsn changes 33,783 {4.0321 Al 31 Decgmber 2022 29,751 Carrylng amount Al 31 December 2022 29,751 Al 31 Decembei 2021 33,783 16 Sto¢k$ 2022 2021 Bookshop Stocks 500 985 -20-
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 16 Dgbtors 2022 2021 Amount$ falllng dug wlthln one ygar. Olhar debtors including GiftAid Prepayments and accrued ineome 7.410 24.077 27.398 385 31,487 27,783 17 ¢r•ditor8'. amounts falllng duo within one year 2022 2021 Other laxalion and social securily Funds held for others- Alrnshouses charity OlheT Creditors A¢cruals and deleriod Income 555 11,218 254 27,894 1,933 14.057 14.048 39,921 30,038 The parlsh Is also In arrears for the Parish Share lo the Dlocese of Port8moulh. The Parish ShaTe is nol a legal liability and has ntsl been Included within the credilors. Al the year end £246.040 of arrears was oulslanding (2021 £192,729). 21
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NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 20 Analytsls of net a$88ts betweèn funds Unre3trlcted Restricted 2022 2022 Total Unr•strlct8d Réstrlctsd 2022 2021 2021 Total 2021 Fund balances al 31 December 2022 are represented by.. Tangible assets Inveslm8nts Current asgelsllliabililies) 20,004 29,751 92,255 20,004 29.751 591,380 25.603 33.783 64,007 25,603 33.783 279.691 499,125 215,684 142,010 499,125 641.135 123.393 215,684 339,077 21 Opèrating lèase commitments Al the repDrting end dale th8 Parish had oulslaiiding commitments for future minimum lease payments under nonrfancellable opeialing leases, which fall Llue as follows.. 2022 2021 Within one year 753 -24-
NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 22 Related party tran$actlons PaymeRt8 rnade lo iwo Trustees for wages arè disclosed in note 9. There are no further disclosable related party transactions during the year (2021 none). Tho Upp&r Alm$hou¥es Trust- Reglsiered charlty numb•r 236493 The Churchwardens and Incumbent arts als¢) Ihg Ttuslees of a separate charity- th8 UpperAlm$houses Tiusl Newport and the PCC administers the assets of the charily wilh that of Ihe PCC. Tha Upper Alsmhouses are separately regislored with the ChaTity Commission under numb8r 236493. These funds are wilh Newport Minster and included in ¢redilors al £11,218 (2021 £14,057). FrSends of thg Mlnster Chureh of Salnts Thomas Newport Isle of Wlght- R491stered charlty 1133165 Th8 fri8nds oiganisalion raise funds lor the upkeép of the ¢hur¢h buildings and is registered as a chatY under number 1133165. During the year Iha Friènds, Charlty ntributed funds towards resloialion projecl including assisting with events, and Ihg lialson with Ihe builders and grant providers. Lord Hunsdon's gift- Reglstered charity numbèr 237670 Lord Hunsdon's glN aim to PTovide relief within the parish of Carisbrooke who are in condilions of need, hardship or di8lre5s. During the year the charity contributed to supporting the parish in which the ¢hur¢hes operate. Al the year end, the charity had funds of £93612027 - £936). Serle's glft- R8gl$torgd charity number 237669 Serle's glft aim Is lo provide relief lo persons resldenl In Carisbiooke who are in condition ol ne8d, h8rd$hip or dislress, either in gifts of kind or grants of money. During the year the charily conlribulod 10 8UPPOrting thè parish in which the churches op8r81è in. Al the yèar end the charily had funds of £8,86312021- £8.8631. 23 Cash g•ntrratgd from operatlons 2022 2021 Surplus for the y&ar 302,058 72.206 Adjuslmenl¥ foi.. Investment income re¢ogni8ed in slalemenl ol financial a¢livS1ies Fair value gains and losses on Investments Depreciation and impaimient of langible fixed asse15 1971 4,032 5,599 (1,1541 (1.9341 3.439 Movements In woiking capital.. Decreasellincreasel in stocks Ilncrease) in debtors Increase in Gredilors 485 13,704} 9,883 {272) {23.402) 9.777 Ca$h 9gnfrral•d from opèratlons 318.256 58,660 24 Analysls of changès In not fund8 The Parish had no debt during the year. 25-