Charlty registratlon numbfrr 1170906 NEWPORT AND CARISBROOKE PCC ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 NEWPORT AND CARISBROOKE PCC LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr T A Harden Mrs J Holliday Rev SA Sutcliffe M E Brett-Hill Mr D G Salter Mf R H Smoul Mr P J ￿ltIOck A C Hewiit Mi P Hewtt MrAG Timb￿11 MrSASSmilh AS Smoul R E Chambers Ms G L Torrington Mr P 8 Ednay Mrs Stephanie Taytor Rev E Ci)oksey MrA Roti Ms L Grundon Ms D Cook Ms P Stevenson Mr C Bradish (Appointed 14 May 2024) (Appointed 14 May 20241 {App¢inled 14 May 2024) {Appc4nted 30April 20231 IAppoÉnted 15 September 2024) Charfty number 1170906 Prlnclpal address The Parish Centre TO￿ Lane N8WPOrt Ide of Wght P030 1JU Independent gxamlner CompassAccountanls Limited Venture House The Tanneries East Street Tilchfield Hampshire P014 4AR Web51 Emall www.newportminster.org operationsmanager@cofeheartofwight.org NEWPORT AND CARISBROOKE PCC CONTENTS Page Trustees, report Independent examinerfs report Statement of finanaal activllies Balan￿ sheet Statem￿1 of cash flows Notes to the finanaal slatements 8-22 NEWPORT AND CARISBROOKE PCC TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruslees present their annual report and fina￿la1 slatemenls for the year ended 31 December 2023. The financial stalemgnls have been prepared in accordance wlh Ihe accounting poliaes sel out in note 1 to the financial statements and comply wlh the Parish's Charitable obj'ects. the Charities Act 2011 and 'Accounling and Reporhng by Charities.. Statement of Recommended Practice applicable to charities preparing Iheil attounls in accordan￿ with the Financial Reporting Standard applicable in the UK and Repubfic of Ireland (FRS 1021. (8S amended for accounting pettods commencing from 1 January 2019) Objectlvgs and activltles Th8 Parish's objects are to womDle in the Parish the whde mission of Ihe Church, pasloTal, evangelistic, S(￿al and ecum8nl¢al. The objects are govemed by the Parochial Chuich Councils (P{w￿r$I Measure 1956 as amended and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amenderll. The TNslees are awaTe of the Charity Commisston's guidance and requiremonls on public benefit in the Advancement of Religion for the Public Benefit and have due regard to it in their adminislralion of the PCC. As part of ils general promollon of the whole mission ol the Church the PCC prov¢des a benefit lo the public by providing facilities for public worship, pastoral care and swable activities both for Ils members and for anyone who wishes lo beneff( from what Ihe Church offers,. and by promoting Christian values and Servi￿ ty members of th& Cl¥Jrch In and to Ihelr communities. lo the benefit of individuals and society as a whole. The last year has contirujed to be a challeThJing year. although11 has been a year filled with many blessings. The second phase of building work al Newport Minster has now been started, with an overall hope of having the bulldin9 open for Easter Day 2024. The Mlnster congregation are currenlly worshipping within the Parish Centr& on a Sunday momlng. 2023 has also seen the appointment of a Community Engagement Co￿rdinal0r, an Operations Administrator and a Commerclal Officer. as part of funding from the Natlonal Heritage Lottery Fund. These roles have provided much needed support for the Opefations Manager, in supporting the projacl. as well as. focussing the team on the next phase of community engagement once the building is reopened. The Minster project team, as well as. a team of volunteers. have worked tirelessly to ensure that the project remained on schedule. We arg exlremety gratgful for how hard the team have worked lo ensure that this project remains on trad(. We have continued to carry out mission within the parish supporting our local community. We have many different groups and charities use our three halls (approx. 45), as well as, ad ￿ for partiès, deanery and dhjcesan events and t￿ining. In 2023 ther8 were 28 bapllsms. 18 weddings and 55 funorals. We saw arprox. 3.000 pe¢)pl8 at different Christmas services, school's mlnislry and communlty se￿ices, as well as 1,300 knllted angels 8nd stars given out lo the community- There is 8 large amount of school's ministy. including fortnighty communion serv¢ces at Christ the lfjng school for 300 students. assemblies and special services for Wort CofE and Carisbrooke CofE schools. and ad hoc visits with Sl Georges and Nine Acres s¢hwl. We have had Chatterbox toddler group with approx. 20 toddlers wlh carers attending each week. we have a Fiiday Café and Parson's Pantry café and mld-week lUr￿h club. This last year wg have also had worship seNices lor Ihe 80th anniversary bombing of Newport. Law service and Rernembrar￿e Servi￿$. In 2023, we have raised money for Tllany charrties and causes irKluding- Christian Aid, Lend wllh care and the Children's society. as well a5, supporting the local foodbank with food donations. We have also offered pastoral support for those in trtè communty. with the parish pastoral team starting to meat regulady to work out a plan for how we can support th8 parish pastorally. We have offered worship weekly both in person and (Kkline. And all of our ministry. mission and charity work that we do is only possib]e because of the dedicated and hardworking team of volLJnleers - so wo want lo thank all of you who do so much, with little recognition. because the thurch woukjnl be able to do this vrithout YOU 811. NEWPORT AND CARISBROOKE PCC TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 structure, governance and managemènt On 2 June 2020. Ihe Parochial Church Counal of the Ecdesiastical Parish of the Minster Church of St ThoFnas the Apostle arhj St Thomas of Canlerbury Newport, was mefged ￿th the Parochial Church Council of the Ecdesiastical Parish of Sl John's, Newport and also the Parochlal Church Council of the Ecdesiasftcal Parish of Sl Mary Ihe Virgin, Carisbrooke to lorm a new single Parish. As Nev￿Ort Minster was registeied as a charity, these accounts renect the Continuan￿ of Ihat charfly wlh the merger of churches- the d)arily name was changed lo Newport and Carisbiooke PCC. As a PCC we have mel 9 limes during the yeai as well as the APCM. The Parish PCC consist5 of Team Vicars, Churchwardens. elected PCC members, Deanery Synod members 8nd a co-opted member. As well as the Parish PCC. new chuich councils have been sel up {DCCI to replace the old PCC in each church. Olher Commillees and working parties are made up on an ad hoc basis from membefs of fhe PCC and wder o)ngregations. The Friends ol Carisbrooke Church is currently a sub committee of the PCC. A finance team meels periodica11y throughout the year. A Pastoral Team is active in the Parish. Al the beginning of 2023. the clergy learlership team consisted of Revd Emma and Revd Steve, however, Revd Canon Sarah Chapman was licensed as Interim Team Rector, whidi has been a huge help. Her role whilst wlh us is lo support the clergy team. lo love the congregation8 and lo love the pailsh. Sarah will be leawng her role 81 the end of January 2024 to go back into retirement - we are very gratefLtI for her support. experience and mentoring over the last nlne months. We have also telied heavily upon our Lay Readers Ihls year to kad servlces and SUPFKSrt missionally. The Irusle8s who served during the year and up lo the dale of signature of the finanfial statements were: Mr T A Harden rs J Holliday Rev S A Sutdiffe C I Whalley M E Brett-Hlll Mr D G Salter Mr R H Smout Mr P J Whil1￿ ACHewtt Mr P Hewiit MrA G Timbrell Mr JA Matthews MrSASSmilh CJHull AS Smout R E ChambeTS Ms G L Torringion Mr P B Ednay Mrs Stephanie Ta￿or Rev E Cooksey Rev Sarah Chapman MIARdf Ms L Grundon Ms D Cook Ms P Stevenson Mr C Bfadish (Reslgned 30 April 2023) (Resigned 30 November 2023) (Resl9ned 30 March 2024) IApwlnled 30 April 2023 and reslgned 31 January 2024) (Appointed 14 May 20241 {Appolnled 14 May 20241 (Appointed 14 May 2024) {Appoinled 30 April 2023) (Appointed 15 September 2024) NEWPORT AND CARISBROOKE PCC TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achlevements and performance Flnancial revlew The Patish generated Sncome on unrestricted funds of £208.673 {2022 - £238.9481 the year. and incurred expenditure of £236.71312022 £216,299). After investment gains of £2,33612022 - £4,032 loss) and transfers from restrided funds of £23284 {2022 - Nil) there was a defi¢il on general funds of £{2,420} (2022 - sutplus of £18.617). The reslricled fund8 - mainly ￿nsiSting of the restoration projects generated a ￿mbined deficit of £191,527) as oject work was incurred 12022 - £283.441 surplus due to liming of gTanlsl and Iransfers (*rt of of reslricled funds of £23.284 {2022- Nill. Therefoie iestricled ftjnds reduced lo £407,598 {2022 £499,125}. These represent funds which will be spent on restoration and other projects in future persods, and are deaily subject lo the limlryJ and recognition of the Teceipls of orants. Thistook the net assets to £547.18812022- £641,135). vAth £139,590 (2022- £142,010) on unrèstricted funds. The patish has nol been abte lo pay the Parlsh Share in full to the Porlsmouth Diocese. The comblned arreats balance brought fotward of £246,040. orew in the year by £60.911 10 £306.951. As these are not a legal obligation, the aNears is not included wllhin the financial accounts, bul the Parish remains committed lo making good the arrears over lime, and restoring the geneTal funds lo a bTeak-evon position wlh the full payment of parish sharo. Accounty held for others: The church adminislers the assets of a sepaTate Trust -the Upper Alms Houses a separate registered charity. holding 2 ￿mS House ￿0pertieS in the town. The trustees of this Trust are the Incumbent and Churclwardens of the P￿ish. Abalan¢e of£2.144 was held {2022- £11.218y. Resgrves: The PCC trustees aim lo malntaln build up over the next few years free reseNes in unrestricted fLnds at a level which equates to approximlety sfx months of unresthcted expenditure for each church (not including Partsh Share). The Parish as a wkK)le has free re8etve8 (Unrestricted funds less those tied up in destgnaled funds or fixed assets) of £47.853 (2022- £53,062). The trustees, report was approved by the Boar(l of Trnstees. Mr C Bradlyh Trustee Dated: 15 October 2024 ## **NEWPORT AND CARISBROOKE PCC** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF NEWPORT AND CARISBROOKE PCC** I report to the trustees on my examination of the financial statements of Newport and Carisbrooke PCC (the Parish) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the trustees of the Parish you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Parish's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the Parish'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 I am qualified to undertake the examination because I am a member of The Institute of Chartered Certified Accountants, which is one of the listed bodies. 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: - 1 accounting records were not kept in respect of the Parish as required by section 130 of the 2011 Act; or 2 the financial statements do not accord with those records; or - 3 the financial statements 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 to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Kerry Lawrance FCCA For and on behalf of Compass Accountants Ltd Venture House The Tanneries litchfield Hampshire **P0144AR** Dated: 17th October 2024 **-4-** NEWPORT AND CARISBROOKE PCC STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted Rostrlcted funds funds 2023 2023 Total Unrestrlcted Restrlcted funds funds 2022 2022 Total 2023 2022 Notes Income and endowments from: Donations and legaae8 Charitable activities Investments Other income 137.883 58,760 4,005 8.025 725.850 6,473 863,733 65.233 4.785 8,025 157,244 1,226.755 1,383.999 64.570 14.074 78.644 97 97 17,037 17,037 Total Income 208,673 733,103 941,776 238,948 1.240,829 1,479,777 Expendlture on: Raislng funds Charitable activities 1.125 235.588 1,125 801,346 1,036,934 1.023 215,276 1,023 957,388 1.172,664 Total expendlture 236,713 801.346 1,038.059 216.299 957.386 1,173.687 Net gainslllossesl on Investments 12 2,336 2,336 (4.032} {4,032) Net IncOn￿(expen￿Iture) (25.704) 168,243) (93,9471 18,617 283,441 302,058 Transfors between funds 23.284 123.284> Net movement In funds (2.420) {91,527} 193.9471 18.617 283.441 302.058 Reconclliation of funds- Fund balances at 1 January 2023 142,010 499.125 641.135 123.393 215.684 339.077 Fund balances at 31 Decomb•r 2023 139,590 407,598 547.188 142.010 499,125 641,135 The statement of finandal activities includes all gains and losses re￿gnised in the year. All irthrne and expenditure derivg fic*n continu￿9 activibes. NEWPORT AND CARISBROOKE PCC BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Investments 14 15 36.811 32.087 20,004 29.751 68,898 49.755 Curront assets Stocks Debtors Cash at bank and in hand 16 17 500 93.963 439.357 500 31,487 599,314 533,820 631,301 Credltors: amounts falllng due viithin ono ygar 18 155,5301 (39,921) Net current assets 478,290 591.380 Total assets less Current liabllltles $47.188 641,135 Net assets excludlng penslon Ilablllty 547,188 641,135 The funds of the Parlsh Reslrfcled income funds Unrestricted funds 23 407,598 139,590 499.125 142,010 547,188 641.135 The financral statements were approved by the trustees on 15 October 2024 Ms G L Torrington Trustee Mr C Bradlsh Trustee NEWPORT AND CARISBROOKE PCC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flovts from operatlng actlvltles Cash {absoib8d byllgenerated from operations 21 (141,4581 318,256 Investing a¢tlvltles Purchase oflangibl2 fixed asseis Investment income received (23.284) 4,785 97 Net cash {used In)Igenerated from investlng activities {18,499) 97 Net cash used in fina￿CIng activities Nel {dgcreaselllncrease In cash and cash equlvalents {159.9571 318.353 Cash and cash equivalents at beginning of year 599.314 280,9S1 Cash and cash equlvalents at 6nd of year 439.357 599.314 NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Charlty Informatlon Newport and Carisbrooke PCC is 8 registered charity- The Charity is registered under number 1170906. and Is the merged parish church councils of Sls Thomas Newport, St Johns Newport and Sl Mary's Carisbrooke. all in the Isle of Wghl. the parish 18 part of the Anglican Diocese of Portsmouth. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the Church Accounting Regulatirms, the Charities Act 2011. FRS 102 "The Financial Reporling Standard applicable in the UK and Republic of Ireland. fFRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance wth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).. The Parish is a Public &nef Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Slalement of Recommended Pfactice for chaiities applying FRS 102 rather than the version of the Statemenl of Recommended Practice which is refe￿ed to in the Regulations bul which has slnce b￿￿ wtlhdrawn. The finanaal statements are prepared in slerfing. whth 15 the ftjnclional cutrency of the Parish. Morselary amounts in Ihese finandal statements are rounded to thè nearest £. The financi81 statements have boen prepared under th8 historical cost convention, Imodified lo include the ravaluation of fre8hotd properties and to indude investment prciporties and certain financial instrLmenls at lair valuel. The principal aceLJunling policies adopted are 8et out below. 1.2 Golng concern The Parish Church Council has to balan￿ its general fund, whilst me8tlng the Parish Share to the DI0￿Se. In re￿nI years the PCC has operated with an annual deficit, albeit now much reduced. In addition the re51oralion project grant ¢ondilions requir0d reseNes to be used in part funding of Ihe project. The PCC therefore got into a deficit positfon wth the Parish Share to the Oiocese. which the PCC irklends lo reduce. Furthei on mergei of the Parishes of Sl Johns, Newport. and Sl Marys Carisbrooke, the combined parssh has taken on increased indebtedness to the Diocese. The parish share airears do not constitute a contradual obligation. and therefore are not Included as a liability in these accounts. Al thg lime of approving the financial slalements. the trustees have 8 reasona￿& expectation thal the Parish has adequate resour￿S to continue in operational e￿Ste￿e for the foreseeable future. Thus the tnBlees continue to adopt the going concern basis of accountillg in preparing the fin8ncid slalements. 1.3 ChaTltable funds General funds represent the ftjnds of the PCC that are not subject to any restrictions regardlng thelr use and are available for applicglion for the general purposes of the PCC. Funds designated for a parti￿lar use by the PCC afe also unrestricted. Restricted funds are those funds that must be spent on restricted purw)ses and details of the funds and restrictions are provided. Endowment funds are those vthere the capital must be Maintain￿￿. The accounts include all transactions. assets and liabilities for which the PCC is responsible in law. They do not include the accounts of churth groups that owe their main affili8llon to anolher body. nor those that are infornial gatherings of church members. NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles (Contlnued) 1.4 Income Income is recognised when the Partsh is legally entitled lo it after any perfotmance coThlillons have been mel, the amounts can be measured reliably, and il is probable that income ￿11 be re￿iVed. Cash donations are rewJnlsed on receipt. Other donations are recognised once the Parish has been noufied of the donation, unless performance cond¢tsons require deferral of the amount. Income tax recoverable in relation to donations received under GIft￿d or deeds of covenant Is recogni5￿ al the lime ol the donatlon. Legaues are iecognlsed on receipt or olhetwse if fhe Parish has been notified of an Impen liability. 1.6 Tanglbl8 flxed assets Tangible fixed asse18 are initialty measured at cost and subsequently measured at cost or valuation. nel of deprerialion and any Impalrment losses. Assets below £1.000 are not treated as ¢xpital Depreciation 15 recognised so as to write off the c081 or valuation of assets less their residual vdues over their Usef￿ lives on the lollowNJ bases: Plant and equlpment 7- 20 % slraighl line The gain or Ios8 arfslng on the disposal of an asset is delemiined as the difference betsveen Ihe sale proceeds and th8 ¢aThwng value of the asset, and is recognised in the statement of financial activities. C(￿secr81ed land and buildings and moveable churth fiJmishirwJs Is excluded from the accounts by the Charities Act 2011. No value is placed on moveable church fumishings held by the virar and churchwardens on speciat trust the PCC and whith iequire a taculty for dispos21 since the PCC considers this to be Inalierta￿8 property. Al expenditure on build1r￿, property and MoVa￿e lurnishiros is switten off as expendÉtUTe in the Staternenl of Financial Activilies. Tlue to the church halls are held by the Dioc*se of Portsmouth and is not induded In these accounts. 1.7 Fixed assgt Investments Fixed asset investments are Inttially measured al transaction price exc1￿j1ng transactlon costs, and are subsequently measured al fair value al each reporting date. Changes in fair valug are recognised in net incomel{expenditure) the year. Transaction costs are expensed as incuffed. NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollclgs (Continued) 1.8 Impalm70nt of flxed assets At each reporting end date. the Parish rewews the carrying aTr￿nts of its tangible assets lo detem)ine whelher there is any indication that those assets have suffered an impairment loss. If any such indicati e￿51$, the recoverable amoLtnt of the asset is eslimaled in order lo detem71ne the exlenl of the impairment loss lif any). 1.9 Stocks Stixks are staled at the lower of cL)st and eslimaled selllng Pri￿ less costs to complete and sell. 1.10 Cash and cash equlvalents Cash and ￿sh equivalents include cash in hand, dep)sils held at call wilh banks, other short-lemi liquid investments wilh original malurilies of three months or less. and bank overdr81ts. Bank overdrafts are shown fhin borrowings in current liabilities. 1.11 Flnanclal Instruments The Parish has elected to apply the provisions of Section 11 'Basic Flnandal Instruments. and Section 12 'Olher Financial Inslwfflents Issues. of FRS 102 10 all ol its financial instwments. Financial instruments are re￿gnised in the Parlsh's balance sheet when the Parish beo)mes paty to the )ntractual provisions of the instrument. Flnancial assets and liabilities are offset, with the nel amounts Presgnled in the financial ststemenls, when thère is a legally enforceable rlght to set off the recognised amounts and Ihere Is an Inlention lo settle on a net basis or to realise the asset and 5ettl8 the liability simultaneously. Baslc financlal assets Basic financAal assets, which indude debtors and cash and bank balanc6s. are initially measured at transa¢tlon price irduding tr8nsaction costs and are Subsequent￿ carried at amorttsed cost using the effectivg interest method unless the arrangement conslitules a financing transaction, where the transaction is measured al the wesent value of the future receipls discounted at a market rate of Interest. Finanoal assets dassified as re￿1vabl¢ wilhin one year are rKJt amortised. 8aslc financlal liabllltles Basic finanual liabilities, including creditOT5 and bank loans are InltiaNy recognised al transaction pri￿ unless the arrangement conslibjtes a financing Iransackion. where the debt instrum8nt is moasuied al the present Wdhje ol the f￿Ure payments discounted at 8 market rate of interost. Finarrial liabilities das5ified as payabte within one year are nol amottised. Other ￿ed110T$ are obligations to pay for goods OT services thal have been acquired in the ordinary COLrrse of operations from suppliers. Amounts payable are dassified as ￿rrent liabilities if payment is due vAlhin one year ￿ less. If not, they are presented as non-currenl liabilities. . DerKognltlon of Ilnèncial liabilities Financial liatMlitie$ are derecognised ￿en fhe Pa￿Sh'S contractual ob￿gallonS expire or are dlsdwged or cancelled. 1.12 Employee beneflts The o)st of any unused holiday enlillement Is recognised in the period in which the employee'5 services are received. 1.13 RetSrement beneftts Payments lo defined ccntribubon retirement benefit schemes are chargd as an expense as thèy fall due. 10- NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcles (Continued) 1.14 Gifts In klnd Gift8 in kind are included at feasonable estimates of their value lo the charity. usually the pric8 that the charity would have to pay in the open market for an equivalent Mem. Crltlcal accounting estimates and Judgements In the 8ppllcation of the Parish's accounting policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other 80UFces. The estimates and assoaaled assumptions are based on historical experien￿ and other factors Ihal are considered to ba relevanl. Actu￿ results may differ from these ests'males. The estimates and underlying assumptions are revtewed on an ongoing basis. Revlslons to accounting estimates are recognised in the peri￿1 in whlch the estimate is revised where the revision affects cfily that perioj, or in the peh¢JJ of the revision 8nd future periods where the revlslon affects both current and fuiure periods. The Iwslees believe there aro no such significant items. Income from donatlons and legacles Unre$trlcted Re5trlcted funds fund$ 2023 2023 Total Unrestrlcted Restrlcted funds funds 2022 2022 Total 2023 2022 Donations and gifts Legacies receivable Grants received other 61.621 6,096 67.717 87,948 92.365 100 100 36,438 1.070.460 1,106.898 32,758 151,878 184,636 4,417 41.733 34.529 607,146 112,608 648,879 147.137 137,883 725.850 863,733 157,244 1,226.755 1,383,999 11 NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable actlvltles 2023 2022 Church $￿p- book stall Church hall lettings Coffee shop income Fees Fundralslng Income Model chur¢h Income other income 19 37.609 174 38,079 6,505 14,797 18,259 742 16,769 10.200 85.233 78,644 Analysis by fund UnfeslricÈed funds Restricted fvnds 58,760 6,473 65.233 For the yearended 31 Decèmbèr 2022 Unrestricted funds Restricted furKIs 64,570 14,074 78,644 other income Unrostrlded Unr8strfctgd funds funds 2023 2022 5nsurance daims re￿1vable 8,025 17,037 12- NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on ralslng funds Unreslrlcted Unrestrlcted funds funds 2023 2022 Fundralsing and publlclty Book stall costs Coffee shop costs other lundraising costs 455 177 493 485 538 1.125 1.023 Investments Unrestricted Restrlcted funds funds Total Unrestrlcted funds 2023 2023 2023 2022 Interest receivable 4.005 780 4,785 97 13- NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charltable actiV5ties Unrestrlcted Restrlcted fund fund 2023 2023 Total Unrestrictèd Restricted 2023 fund fund 2022 2022 Total 2022 Staff c051s Depreciation Home missions & tharity Parish shale Clergy expenses Upkeep of sewces Church running costs Church maintenance and rèstoration Organist fees and church music Insurance Church hall wnning costs Admlnlstralion- support costs Bank Charges. SUPPDrt costs Fees io diocese Accounts and Independent examination- Governancg Governance costs- 2022 incl. audit 43,595 6,477 465 33.100 3,916 919 12,134 43.595 6.477 1.506 33,100 3,916 919 12.134 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 1.041 345 65,772 798.213 863.985 20,058 954.048 974,106 7,595 15,354 17,945 7,595 15,354 17.945 11.679 16.791 20,712 11,679 16.791 20,712 6.877 6,877 15.704 15,704 82 10,568 60 142 10.568 145 10,758 145 10,758 5,500 2.032 7,532 6.52g 2,995 9.524 5,289 5.289 9.267 9.267 235,588 801,346 1,036,934 215.276 957,388 1.172.864 235,588 801.346 1,036,934 215.276 957,388 1.172,664 Analysis by fund Unrestricted funds Restricted funds 235,588 235,588 801.346 215,276 215,276 957,388 801,346 957.388 235.588 801,346 1.036.934 215,276 957,388 1,172,664 Net movement In funds 2023 2022 Th8 net movement in funds is stated after charg1￿1{credItIng). Depreclation of 0￿ed tangible fixed assets 6.477 5.599 14- NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Trusteos The f(Alowing Iruslees received remuneratlon from the Parish during the year (for services related to belng a Truslee) as detsiled below: 2023 2022 Penslon Contrlbutlons £4925 £0 Salary Pension Contributions £989 £0 Salary Ms G Torrington- Operations manager Mrs C ￿alley- Cleaning (Resigned as Iruslee 30 April 2023) £34,013 £1,012 £30,838 £2,968 11 Employees The average monthly number of employees during the year was: 2023 Number 2022 Number Employment costs 2023 2022 Wages and salarfes other pension costs 41,307 2.288 32.794 1.300 43.595 34.094 There were no ernployees whose annual remuneration was more than £60,000. 12 Galns and losse$ on invèstments Unrestrjcted Unrestrl¢t&d funds funds 2023 2022 Gainslllossesl aTising on- Revaluation of Investments 2,336 14,0321 13 Taxatlon The charity is exempt from taxation on Ils actiwties because all Its incom& is applied for charitable purposes. 15- NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Tanglble flxed assets Plant and equlpment Cost At l January2023 Addlb'ons 43,532 23,284 At 31 December 2023 66,816 Depreclatlon and Impalrnient Al 1 January 2023 Depreciation charged in the year 23,528 6,477 At 31 December 2023 30.005 Carrylng amount At 31 December 2023 36,811 At 31 December 2022 20.004 IS Flxod asset Investments Investments Cost or valuatlo At 1 January 2023 Valuation thanges 29,751 2,336 At 31 De￿mber 2023 32,087 Carrylng amount At 31 December 2023 32,087 Al 31 December 2022 29,751 16 Stocks 2023 2022 Bookshop Stocks 500 500 18- NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Debtors 2023 2022 Amounts falllng due wlthln one year: Grants receivable Other debtors induding GtftAid Prepayments and accwed income 85,070 8,893 7.410 24.077 93,963 31.487 18 Credltors.. amounts falllng due wlthln one year 2023 2022 other laxatlon and ￿)CIal security Retention on building conlracl Funds held for others-Alrnshouses charity Other creditors Accruals and deferred income 3.877 24.365 2,144 362 24.782 555 11.218 254 27,894 55,530 39,921 The parlsh 15 also in arrears for the Parish share to the Diocese of Portsmouth. The Parish Share Is not a legal Ilability and has not been included wlhln the uedilors. At the yeaT end £306,951 01 ￿lear5 was Islanding {2022- £246,040). 19 Operaling lease o)mmllments Less8e Al the reporting end dale the Parish had outslan 0)iJ2 8¢8eyc o£tOS.r q> O(OrO tn ￿ ¢J)o O) r ThT l Er> o o roo O Ln O (5)r O O r lY)(D Lrj o otyioco¢e) ¢0 <0 (oor co { I O o>*wo oj kio (o 01¥S00_ èècccc ¢rJ vjuj NEWPORT AND CARISBROOKE PCC NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 25 Related party transactlons Payments made to two Truslees for wages are disdosed in note 9. There are no further (lisdosable related paty transactions during the year {2022- none). The UpperAlmshouses Trust- Reglstered charlty number 236493 The Churchwardens and Incumbent are also the Trustees of a separate chsrlty- the Upper Almshouses Trust Newport and the PCC administers the assets of the charity wÉlh Ihat of the PCC. The Upper Alsmhouses are 5ep8rately reglstered wilh the Chanty Commission under numbgr 236493. These funds are vith Newport Minster and InclLKled In creditors al £2,144 (2022- £11,218). Frlends of the Minster Church of Salnts Thomas Newport Isle of Wlght- Reglstered charity 1133165 Th8 friends orgar¢isalion is reg5slered as a charity L￿der number 1133165. During the year the Friends, Charfty assisted with the restoration project.