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2023-12-31-accounts

The Parochial Church Council of the Ecclesiastical Parish of Gleadless Valley

(Known as “Holy Cross Gleadless Valley PCC”)

Annual Report and Financial Statements For the year ended 31 December 2023

Registered charity number: 1179675

Holy Cross Gleadless Valley PCC Index

Page
Administrative information 1
Annual Report 2 - 10
Independent examiner’s report 12
Statement of financial activities 13
Balance sheet 14
Notes to the accounts 15– 21

Holy Cross Gleadless Valley PCC Administrative information For the year ended 31 December 2023

Holy Cross Church is situated in Gleadless Valley overlooking the city of Sheffield. It is part of the Diocese of Sheffield within the Church of England.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GLEADLESS VALLEY was registered with the Charity Commission on 28[th] August 2018 with Registered Charity Number 1179675.

From 1 January 2023 to the signing of the accounts, the Parochial Church Council has consisted of:

Rev’d David Middleton Vicar, Chairperson Gregory Jones Church Warden (until July 2023) Abraham Aboagye Church Warden Mark Spence Church Warden (from May 2023) Elected Member (until May 2023 Sue Lachlan Deanery Synod Rep (until May 2023) Martin Bell Co-opted Member (until May 2023) Melanie Hobbs PCC Secretary Elected Member (from April 2022) Emeka Okereke Elected Member (from May 2023 Pierre Kabaya Co-opted Member (from May 2023 Elected Member (until May 2023) Janet Drabble Elected Member (until May 2023) Jono Chamberlain Elected Member (from May 2021) Guy Lachlan Elected Member (from May 2023) Deanery Synod Rep (from Nov 2023) Florence Murorunkwere Elected Member (from May 2023) Steven Rich Elected Member (from May to October 2023) Sunday Dawodu Co-opted Member (from January 2024)

Treasurers:

Martin Bell Assisted by Robert Hewitt

Church address :

Holy Cross Church, Spotswood Mount, Sheffield, S14 1LG

Correspondence address:

The Vicarage, 5 Blackstock Close, Sheffield, S14 1AE

The PCC’s bankers are:

Virgin Money (previously known as Yorkshire Bank) Shawbrook Bank Limited Charity Bank Limited

The Independent Examiner is:

Susan Cochrane FCA DChA, Seven Hills Accountants Limited, 57 Burton Street, Sheffield,S6 2HH

1

Holy Cross Gleadless Valley PCC Annual Report

For the year ended 31 December 2023

MISSION STATEMENT AND AIMS

Holy Cross is a diverse evangelical Anglican Church in the Church of England. It is in the parish of Gleadless Valley, within Attercliffe Deanery and part of the Diocese of Sheffield.

Our mission statement is to Glorify God – Father, Son and Holy Spirit by:

This Mission Statement was reviewed by the PCC in early 2024 with the following revised qualifying statements produced:

We aim to do fulfil this mission by being disciples who help others be disciples:

1. Knowing God through Jesus Christ:

2. Growing together in Jesus Christ as a church:

3. Serving Jesus Christ in Gleadless Valley and Beyond:

The PCC decided to continue with the previous 6 Priorities until they were reviewed.

1. Staff Team. Ensure that we have the right Staff Team so that, under the Lord’s Hand, we can fulfil His mission.

2. Funding . Ensure that we have the money needed for the staff posts.

3. Building . Make certain that we have a building that is fit for the growing work of the Lord’s Kingdom in Gleadless Valley.

4. Accessibility . Enable variety with accessibility in how we reach people with God’s Word – in both Sunday & midweek ministry.

5. Serving . Communicate the needs of a growing church and the areas of church life that require more people to serve – providing appropriate equipping for all.

6. Personal Evangelism . Commit to outreach in our community.

2

Holy Cross Gleadless Valley PCC Annual Report

For the year ended 31 December 2023

The PCC reviewed Priorities 1-3 in February 2024 and Priorities 4-6 will be reviewed at a much wider Leadership Afternoon on 9[th] March 2024.

New Priorities 1-3 for 2024-2029 have built on the previous ones. Old Priorities 1 and 2 were combined into a revised Priority 2. This seemed sensible as the need for the right staff team can only be met if there is appropriate funding. New Priority 1, Responsible Governance, was set in order to reflect the church’s investment in, and continuing commitment to governance.

New Priorities 1-3 are as follows and all three will be commented on in the reflection on the past year.

1. Responsible Governance. Ensure we have a healthy and transparent church culture that honours the Lord through: flourishing relationships; integrity in finance and accountability in oversight.

2. Staff Team . Ensure we have the right staff team that is appropriately funded so that, under the Lord's Hand, we can fulfil His mission.

3. Building . Ensure we have a building that is fit for the growing work of the Lord's Kingdom in Gleadless Valley.

Priorities 1-3 reflect the overall life and organisation of the church and Mission Statement, our context and current needs.

Priority 1: Responsible Governance

Since 2021, Holy Cross has been actively seeking to make church life much more transparent and accountable. This has been reflected in the following:

We aim to build on this foundation of Responsible Governance in 2024/5.

Priority 2: Staff Team

Vicar:

Holy Cross is led full-time by the Rev’d David Middleton.

International Ministry Assistant:

This post is occupied in a full-time capacity by Pierre Kabaya who began a new 3-year contract in July 2022.

3

Holy Cross Gleadless Valley PCC Annual Report

For the year ended 31 December 2023

Women’s Worker:

This post is voluntary and unpaid and is fulfilled Aly Middleton. Aly is responsible for overseeing ministry among the women at Holy Cross and supporting the ministry of the Vicar and Staff Team – especially with respect to pastoral visiting and youth/children’s ministry.

Youth and Children’s Minister:

This post had been vacant since July 2020 and was filled by Rev’d Sunday Dawodu. Sunday’s appointment was recommended by the interview panel and then agreed by the PCC. Since Sunday is from Nigeria, his appointment required the Church become a Sponsoring Organisation for Overseas Workers so we could issue Sunday with a Certificate of Sponsorship so he could apply for a Tier 2 Minister of Religion Visa.

These requirements were fulfilled and the Visa was granted on 10 November 2023; the Rev’d Dawodu was appointed on 11[th] November 2023. Unfortunately, the Church of England Faith Commission does not recognise the ecclesiastical orders of the Methodist Church in Nigeria, so the Bishop of Sheffield was unable to grant a ministry licence.

In 2024/5, we aim to make the on-going provision of this Staff Team a reality through funding and grants from other churches and charities. As a result, we are not contemplating filling the Gap Year Ministry Experience Scheme or Ministry Trainee post.

Priority 3: Building

With the continuing high price of utilities and the cost of living crisis, our mid-week church meetings (except for YBS) were moved to the Vicarage and homes. It is hoped that in the summer of 2024 we might be able to restart midweek meetings in church.

As church family have returned to meeting in-person on Sundays, the attendance on Sundays continued to grow and the issue of space for the Youth/Children’s ministry on Sundays resurfaced. As a result, we have only had groups for 2yr-olds up to Y6 Primary School. The PCC have been consulting with the Diocesan Advisory Committee about the possibility of a temporary fix using repurposed shipping containers for the children’s ministry.

With diocesan agreement we were able to dispose of our original chairs that had become unfit for purpose. Most of these were recycled or given to church family, or a local charity.

With diocesan agreement and the help of a diocesan grant, the kitchen was refurbished in the Spring of 2024. This will help it meet the rising demand for catering on Sundays/ midweek.

In February 2024, the PCC took the decision to replace most of the doors in the Vestry and the door into the Parent and Toddler Room. This was in response to some issues of safety that had come to light. We are seeking the advice of our Architect and Diocesan Advisors.

Throughout the year, we have faced problems with the roof – leaks as well as window issues. As a result, the PCC has decided to have the roof surveyed.

As well as the above plans for 2024/5, we also intend to conduct a Quinquennial Inspection of the building.

4

Holy Cross Gleadless Valley PCC Annual Report

For the year ended 31 December 2023

Activities and Achievements

Priorities 4-6 reflect the three main aims for church life and how we work out our Mission Statement in respect to our relationships with: God in Jesus, with each other in the church and with those in our community and further afield. These Priorities were being reviewed in March 2024 and hence the majority of the year being reported on fell under the original Priorities 4-6.

4. Accessibility . Enable variety with accessibility in how we reach people with God’s Word – in both Sunday & midweek ministry.

5. Serving . Communicate the needs of a growing church and the areas of church life that require more people to serve – providing appropriate equipping for all.

6. Personal Evangelism . Commit to outreach in our community.

As the country continued to recover from the Coronavirus Pandemic and ministry at Holy Cross returned to normal, we still allowed church ministry to be shaped by our four existing Guidelines:

These guidelines have had a longer-lasting impact on church life than we might have expected. Not least in helping us assess the appropriateness of starting new ministries and the importance of a widerange of church membership sharing in them as well as in existing ministries so that all ministry is sustainable.

Our usual ministries include:

5

Holy Cross Gleadless Valley PCC Annual Report For the year ended 31 December 2023

Looking ahead, we are hoping to maintain these ministries during 2024/5 and when necessary and appropriate develop them to meet the needs of our increasingly diverse church family.

Priority 4: Accessibility

Everything we do is shaped by our belief that the God who created the world and us, has made himself known in the person of his Son, Jesus Christ. He came into the world so that anyone who puts their trust in him can receive forgiveness, a restored relationship with God now, and life forever with him when we die.

This Good News of Jesus is found in the Bible and it is our conviction that when we hear the Bible read and taught, and when we study it for ourselves, God speaks to us. He calls us to trust him and live for him; and he changes us so we can respond. This past year we have spent time in the following Bible Books: John, 1 Samuel; Psalms, James, Matthew, Luke and 2 Corinthians.

At every stage, we have striven to make the Bible accessible to all regardless of age or stage of life, culture or background. This year we have worked hard to make sure that our youth are catered for within our Sunday Services as there is no longer any specific provision for them on Sundays. Hence we have made sure that language, illustrations and examples are easily accessible to them. As in previous years, our International Ministry Assistant has provided vital translation during our services. We hope to be able to increase this facility over the next few years with more people able to assist in this aspect of ministry.

For those unable to join us on Sundays, we have continued to visit the housebound and more recently resumed our services in care homes. In addition, we provided DVDs of the service and recordings of the sermons to those unable to be with us and those who were involved in the Sunday Club ministry that precluded them from hearing the sermon.

One of the key decisions the PCC took this year with was to provide Bibles for free. There have been a variety of Bibles available so that all ages can have access to the Word of God. We have also provided Bibles in overseas languages where needed.

In 2024/5 we intend to build on these foundations until Priority 4 has been reset.

6

Holy Cross Gleadless Valley PCC Annual Report

For the year ended 31 December 2023

Priority 5: Serving

Living Life Together as a church means that our relationships with one another are at the heart of our mission and ministry. We believe that everyone at Holy Cross is gifted in different ways and we believe there should be opportunities for everyone to serve in ways that help them and others to flourish.

We have had several opportunities to highlight serving in church family life. These have included: upfront interviews with those who are serving; announcements about serving opportunities; regularly updating the list of serving opportunities at Holy Cross and repeated reference being made to the church family about the ‘Expression of Interest Form’ which is the route into serving at Holy Cross.

We have been encouraged by new people serving in the following ministries: catering; music; reading the Bible and praying on Sundays and the Sunday Club.

At Holy Cross we also recognise that we are part of a wider church – locally in the Diocese of Sheffield, nationally in the Church of England, and internationally as part of the Anglican Communion and worldwide church.

Partner Churches

We remained committed to supporting our Partner Churches locally and nationally. We pray for them regularly and share news and encouragements. We are very grateful that they continue to partner us prayerfully and, in some cases

Deanery

We played an active role in Attercliffe Deanery. Our Vicar and Deanery Synod Rep have been participating in Synod and Chapter matters.

Diocese

The parish remained part of Sheffield Diocese for administration, discipline, safeguarding and licensing matters and received pastoral and spiritual oversight from the Bishop of Maidstone (under the 2014 Declaration of the House of Bishops and under provision from CEEC – the Church of England Evangelical Council).

Church of England

Living in Love and Faith and the subsequent Prayers for Love and Faith have dominated life in the Church of England and have been a unceasing focus for prayer and engagement for us at Holy Cross. Decisions by the Church of England Bishops and General Synod on this subject have fractured the Church of England, caused great alarm in the wider Anglican Communion, and shaken many at Holy Cross.

As a result of this, the PCC had already taken the decision to send both paid members of our staff team to the Global Anglican Future Conference (GAFCON) IV in April 2023. This trip helped us achieve a number of important aims that have served to strengthen the ministry at Holy Cross and deepen our ties with Christians across the world – especially friends and relatives of Church family living in Kiziba Refugee Camp

7

Holy Cross Gleadless Valley PCC Annual Report For the year ended 31 December 2023

Further action was taken by the PCC in January 2024 when the PCC passed a Resolution not to use PLF and to seek spiritual oversight through the Church of England Evangelical Council. This is being provided by the Bishop of Ebbsfleet.

In 2024/5, we intend to continue building on this until a new Priority 5 is set in March 2024.

Priority 6: Personal Outreach/Evangelism

Priority 6 is aimed at helping us all play our part as we seek to reach out to Gleadless Valley and beyond, so that others can come to know and experience the love and Good News of Jesus for themselves.

Our Food Support Ministry also enables us to reach out to our community as funds allow and support people in very difficult financial situations. This was once again ‘topped-up’ at Christmas with Christmas Hampers (food and utility contributions) being distributed to 30 families. We were very grateful to our Local COOP (Constable Road and Derbyshire Lane) for their provision of gifts by local shoppers of presents and in particular warm clothing for children and youth.

This year we have partnered others from Gleadless Valley Partners to support one another and work together for the good of all residents in the area. Alongside joint ventures, Holy Cross provided unique ministries in the following areas: Fun Food and Faith ; Sunday Special and the Gleadless Valley Memorial Service . Our Vicar also continued to give local residents a voice on the Gleadless Valley Regeneration Project (formerly Masterplan).

Beyond Gleadless Valley, we provided prayer and financial support for each of the following Mission Partners: the Oakes Christian Holiday Centre, the Potter family in Mozambique and St Thomas’ Church, Heideveld in Capetown, South Africa

In 2024/5, we aim to work with our partners in Gleadless Valley, stay involved with Gleadless Valley Regeneration, help provide for those in need, and continue to support our current Mission Partners.

We intend to build on these foundations until we set a revised Priority 6 in March 2024.

8

Holy Cross Gleadless Valley PCC Annual Report For the year ended 31 December 2023

Finance Review

Giving to God’s work at Holy Cross relies on teaching from God’s word and prayer. Due to personal circumstances, giving may go up, down or stay the same. By the end of 2023 there were 16 families / individuals who had made a commitment to regularly give by Standing Order. 11 tax-paying members have also signed Gift Aid forms enabling the church to reclaim tax from the government. This commitment to give regularly is so helpful to the Church Council as it enables it to plan for future ministry and associated expenditure.

In the Autumn of 2022 the Diocese gave Holy Cross a contactless giving device so that members of the church can give using a contactless debit card. The giving is processed by Give A Little before being paid into our bank account. It is available every Sunday for general giving to the work of the church but also for supporting special events, for example, youth and children going to The Oakes or Yorkshire Camps and the Christmas Help appeal.

In 2023, the general (unrestricted) giving by standing order, contactless card, bank transfer, cash in Sunday collections and other donations totalled just under £39,500. With reclaimed tax through the Gift Aid scheme, this increased to just over £46,084. This amount is to cover all church running costs, including;

The targeted (restricted) giving and grants is to mainly cover:

We are extremely grateful for the sacrificial giving by the church family and others who financially give to support work at Holy Cross. We have been hugely blessed by donations and grants towards staff employment costs from a few individuals and a Christian charity. Securing grants is becoming more challenging; please continue to praise the Lord for his incredible generosity to the ministry at Holy Cross.

In order to help the monitoring of accounts, the PCC has created the following funds into which all income and expenditure is assigned:

9

Holy Cross Gleadless Valley PCC Annual Report For the year ended 31 December 2023

We are an Anglican church within the Diocese of Sheffield and Doncaster. We contributed £9,000 towards their costs via the Common Fund. See note 4. The costs include:

We do not receive any funding from the Church of England or Sheffield Diocese to support the general church expenditure.

Reserves policy

It is the policy of the PCC that unrestricted funds, which have not been designated for a specific purpose, should at least be maintained at £20,000. The PCC considers that reserves at this level will ensure that, in the event of unforeseen costs, they will be able to immediately address the issue whilst demonstrating our dependence on God. Free reserves at 31 December 2023 were £24,235 (2022: £27,035)

The charity also holds Designated funds of £69,521 (2022: 101,713). See Note 10. Most of these funds are to help secure the future of the Youth and Children’s Minister and the International Ministry assistant positions.

We should all give thanks to God for the considerable sacrificial giving by the church family and partner churches to enable this growing ministry within Gleadless Valley. Pray also that the PCC will make wise decisions to be good stewards of these resources.

Structure Governance and Management

The method of appointment of PCC members is set out in the Church Representation Rules. At Holy Cross, Gleadless Valley, during 2023, membership consists of our vicar as the chairperson, two churchwardens, a representative on the Deanery Synod, two co-opted members and five members elected by the church family from those who are on the Electoral Roll.

All those in the church family are encouraged to be on the Electoral Roll, which at the time of the APCM in 2023 was 61.

The PCC has met seven times during the year. Each meeting begins with time in God's Word and a time of prayer. In each meeting we discuss church finances and the upkeep and best use of our building. We continue to give thanks to God for how He has generously provided for our growing church family.

We hear reports on various situations in church life, both locally and nationally, looking back on what has already happened and then looking ahead to what is coming up. This includes planning for and reflecting on outreach to the local community as well as church family events.

10

Holy Cross Gleadless Valley PCC Annual Report For the year ended 31 ()ecember 2023 At every PCC meetin8 we ctstsrderthe needs of t)urgrowing church family ah)ng wlth progress wlth our 38reed priorftles. We also consider and ￿Spond to lswe5 affecting the natK)nal and local church s¢ene. The PCC ha5 c4)mplled wbth the duty to have 'due re8arf to the House of &Isl￿p< Safe8uarding Poli and Practice Gurdan¢e. There is alwos a rep)rt on Safeguarding and Heahh & Safety concern5 together wlth consideTrtion of atry actlon to be tsk2n. In order to aNvld any confiict of Interest. PCC members are exduded from dlscusslw ard decisrons in which be personalty afferted. Forexample. dtscusslons re8ardln8 allowances and expenses. The charitytrustees are responsibFÈ for preparfn8 a Trustee< Annual Report and flnanclal statements in accordan￿ wlth applkable law and Unlted Klngdom Accountlng Standards (United Kingdom Generally cepted Acawrtln8 Prarticel. The law applICab￿ to charltSes In England and Wale5 require5 the charlty trustees to prepare ftnancial stemerbts for each year which 8Trve a true and falr ¥w of the state of affalrs of the charty and of the Incoming resources and applicatlon of reSoU￿e$. of the thaiity for that perlod. In preparing the financlal statements. the trustees are required to: Select suitsble accountire wlicSes and then applythem aJnsIs￿lty. Observe the method5 and prinuples In the applicable Charities %)RP; Make jud8ements and estimates that are reasonable and prudent: State whether appllcable accountlng standards been folbwed. subAÈtt to ary materlal departures that must be disclosed and explained in the financial statements: Prepare the flnanclal st*ements on the 8oln8 concern basis unless ￿ Is InJpproprlate to presume that the charbty wlll contlnue In buslness. The trustees are rp5ponsible for kn¢pl￿ proper accountlrrf re(ords that dlxlose wSth reasonab atCUfdCY at arry tlme the financlal posltion of tharlty and to enable them to ensure that the financlal statements compfy with the Charttles Art 2011. the appllcable Charities Ikcounts and Reports) Re8ulatlons. and the pr￿SkI￿ of the Trust deed. Tlw are a150 responslble for sJfe8uardillg the assets of the charlty and taklng reasonable steps for the Pr￿entknn and detectlon of frnud and other Irrelu￿rrtles. The trustees Ire responslble for the maltrtenance and Iiiteirlty of the charfty and financial Informotion Included on the charfty's website in accordance with le8lsl•tlon Sn the Unlted Kln8dom governing the preparation and dissemination of finandal statements. The annual repNr and financial Sialem￿ fwere apwoved Iythe PCC on Marth 2024 Slgned on thelr behalf bv Re¢d Davkl Middleton li

Independent Examlnerfs report to the PCC Members of Hoty Cross Gleadless Valley PCC I report to the PCC member5 on my eyamination of the accounts of Cross Gleadless Valley PCC (the Charltyl for the year ended 31 (lecember 1023. Rwonslblllllesand l)asls of repryt As the PCC member5 of the Charity are ￿SpOnSible for t￿ preparation of the accounts in accordance wtth the requlrements oftr Charltfies kt 20111'tr Arf). I report in respett of my examination of the Charli￿$ accounts carried out under sertK•n 145 of the 2011 Att and In carryln8 out my examlnatlon I haw lolkmted all the appllcable Dlrecrlons &￿eTh by the Charity Commission under sertion 14Sl5llbl of the Art. Indtptndont eyJ•mlnerfs Jtstemert I completed nry eyamlnatlon. I confimi that ry) materfal matter5 have come to my attentlon In connectlon with the 8lvbn8 me cause to belith that In any material respect: l. accourrtln8 records were not kept In respect of Charlty as requlred by sertbn 130 of the A¢. or 2. the accounts do not acct)rd wlth those records: or 3. the accounts do not compty wrth the •pplicable requlrements concernln8 the fomi and content of accounts set out In the Chorftles IAciounts and Re￿rts> Re8ulatlons 2￿8 other than arry requirement that the accounts 8lb a 'true and falr vlew whlch is rnt a matter c¢>nsidered as part of an independent examination. Your attentton Is to drawn to the fart that the charlty has prepared the attounts lflnanclal statements) In accordance wlth the relelant ye￿ of the Statement of Recommended PractKe applicable to charltles preparln8 thelr accounts In accordance wlth the Flnanclal Reportln8 Standard applicable In the UK and Republlc of Ireland IFRS 1021 in preference to the Accountlng and Reportlng by Chafftles- Statement of Recommended Practice Issued on I Porll 2(M)5 whlch is referred to in the extant re8ulatlons but has been ¥Athdrawn. We understsnd that thls has been done in order for the accounts to provlde a true and falrvlew In accordance wfth UKGenerally Accepted Accountln8 Pract￿. I have no concern5 and come across rn other matters In connectton wlth the examlnatlon to which attentlon Should ￿ drawn in thi5 rewrt in Order to enable a proper understsndln8 of the accounts to be reached. 8ned: h(c Suson Ct3throne. FCA DthA Seven Hllls Accountsnts Limtted 57 Burton Street Sheffield 562HH Date: 20121 Q02Ik. 12

Holy Cross Gleadless Valley PCC

Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 December 2023

Notes
Income from:
Donations and grants
2
Charitable activities
3
Investment - bank interest
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
38,584
1,928
1,485
41,997
76,411
76,411
(34,414)
(578)
(34,992)
128,748
93,756		 Restricted
funds
£
38,476
-
-
38,476
24,093
24,093
14,383
578
14,961
56,452
71,413		 Total
2023
£
77,060
1,928
1,485
80,473
100,504
100,504
(20,031)
-
(20,031)
185,200
165,169		 Unrestricted
funds
£
43,378
5,717
366
49,461
63,434
63,434
(13,973)
(36)
(14,009)
142,757
128,748		 Restricted
funds
£
14,165
-
-
14,165
4,799
4,799
9,366
36
9,402
47,050
56,452		 Total
2022
£
57,543
5,717
366
63,626
68,233
68,233
(4,607)
-
(4,607)
189,807
185,200

13

Hoty Cross GE&￿Ie5S Valley PCC Balance sheet As at 31 December 2023 2022 Stocks Debtor5 Cash at bank and In hand Totsl (urrent •ssets ICM) 1,773 184,647 186,520 164,766 167h06 Creditors: amounts fall5￿ due T*Sthln oneywr 112371 IL3201 Net curr•nt ass•ts 185,200 Totsl •u•ts less ¢urr•nt Ilabllltl•s 165.169 185.1 CredltOTS: arftounts falli￿ due after more than onewar Tobl n•t •sxts Funds 01 th• (￿lIty General funds Designated funds Totsl unrestrlded fund5 Restrl¢ted Income funds 24,235 27,035 JOI 713 128.748 .452 93,756 71,413 Totsl 185 Approved by the board on I nd slgned on thtlr behalf by. Prlnt name.. Martln Bell Trustee 14

Holy Cross Gleadless Valley PCC

Notes to the Accounts For the year ended 31 December 2023

1 Accounting Policies

(a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 ( as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ( FRS102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements have adopted Charities SORP (FRS102) Bulletin 1 and taken advantage of the exemption to prepare a Statement of Cash Flows.

The accounts (financial statements) have been prepared in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice. The accounts (financial statements) have been prepared to give a ‘true and fair’ view and 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 relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity meets the definition of a public benefit entity as defined under FRS102. The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £1.

(b) Income

Income is recognised in the SOFA when the charity has entitlement to the funds, any performance conditions attached to the monies have been met, the receipt of the income is probable and its amount can be reliably measured.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

(c) Expenditure and liabilities

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

(d) Tangible fixed assets

All items of capital expenditure below £500 are written off as incurred.

Depreciation has been calculated to write down the cost or valuation, less estimated residual value, of all tangible fixed assets over their expected useful lives on a straight line basis.

(e) Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

(f) Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

15

Holy Cross Gleadless Valley PCC

Notes to the Accounts - continued For the year ended 31 December 2023

(g) Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

(h) Fund accounting

Unrestricted funds are donations and other income receivable or generated for the objects of the organisation without further specified purpose and are available as general funds.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific artistic projects being undertaken by the charity.

(i) Pensions

The organisation has a defined contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

(j) Operating lease rentals

Rentals under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

(k) Taxation

As a charity, Holy Cross Gleadless Valley PCC is exempt from tax on income and gains falling within the available tax exemptions to the extent that these are applied to its charitable objectives. No tax charges have arisen in the Charity.

(l) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2 Income from donations and grants

Planned giving
Giving via Collection plate
Other donations
Gift aid reclaimable
St Ebbe's UKMG - Families Ministry
13:33 Trust - Families Ministry
St Luke's Wimbledon - International Ministry
Christ Church Walkley - Employment fund
Sheffield City Council - Cost of living support		 Unrestricted
funds
£
26,870
3,257
3,300
5,157
-
-
-
-
-
38,584		 Restricted
funds
£
366
-
25,110
1,500
-
6,600
-
-
4,900
38,476		 Total
2023
£
27,236
3,257
28,410
6,657
-
6,600
-
-
4,900
77,060		 Unrestricted
funds
£
31,720
1,471
2,388
7,799
-
-
-
-
-
43,378		 Restricted
funds
£
-
-
4,890
25
4,000
-
3,250
2,000
-
14,165		 Total
2022
£
31,720
1,471
7,278
7,824
4,000
-
3,250
2,000
-
57,543

16

Holy Cross Gleadless Valley PCC

Notes to the Accounts - continued

For the year ended 31 December 2023

3 Income from charitable activities

4 Bookstall sales
Fees
Rents received
Other income
Expenditure on charitable activities
Note
People
Vicarage Expenses
Clergy Expenses
Staff salaries
5
Other staff costs
Buildings
Properties & Facilities
Utilities
Insurance
Ministry
Diocese - Common Fund
Diocese - Fees
Bookstall
Catering
Youth & Children
Women's ministry
Ministry Expenses
Parish Administration
Vicar's Discretionary Fund
Outreach work
Printing and Publicity
Training and Conferences
Independent examination fee
6
Mission Partners
Mission Partners
7		 Unrestricted
funds
£
-
87
345
1,496
1,928
Unrestricted
funds
£
3,838
1,241
30,414
-
2,236
2,601
826
9,000
-
162
1,591
4,127
368
1,798
7,095
1,235
2,134
763
1,209
720
5,053
76,411		 Restricted
funds
£
-
-
-
-
-
Restricted
funds
£
-
-
4,394
9,756
-
-
-
-
-
-
-
-
-
-
-
1,865
-
-
8,078
-
-
24,093		 Total
2023
£
-
87
345
1,496
1,928
Total
2023
£
3,838
1,241
34,808
9,756
2,236
2,601
826
9,000
-
162
1,591
4,127
368
1,798
7,095
3,100
2,134
763
9,287
720
5,053
100,504		 Unrestricted
funds
£
128
490
5,024
75
5,717
Unrestricted
funds
£
3,200
392
26,630
3,411
1,859
728
8,600
318
76
954
4,032
165
1,622
5,110
177
1,115
696
505
594
3,250
63,434		 Restricted
funds
£
-
-
-
-
-
Restricted
funds
£
-
-
2,473
-
-
-
-
-
-
-
-
-
-
-
2,176
-
-
-
-
150
4,799		 Total
2022
£
128
490
5,024
75
5,717
Total
2022
£
3,200
392
29,103
3,411
1,859
728
8,600
318
76
954
4,032
165
1,622
5,110
2,353
1,115
696
505
594
3,400
68,233

17

Holy Cross Gleadless Valley PCC

Notes to the Accounts - continued

For the year ended 31 December 2023

5 Staff Costs, Trustees' remuneration and expenses, and the cost of key management personnel

Salaries
Employer's National Insurance contributions
Employer's allowance
Pension costs		 2023
£
32,230
2,983
(2,983)
2,578
34,808		 2022
£
26,947
2,603
(2,603)
2,156
29,103

No employee received emoluments of more than £60,000. The average number of employees during the period was 1 (2022: 1).

The following employees were employed by the Charity whilst being Trustees during the year:

Employee
Position
P Kabaya
International Ministry Assistant		 Salary
£
28,162		 Expenses
£
-		 Pension
Contribution
£
2,253

PCC members were not paid and did not receive any other benefits in their capacity as trustees in the year (2022:£nil) neither were they reimbursed out of pocket expenses.

The Key management personnel of the charity comprise the Trustees, which include the Minister. Minister costs are shown below:

Common Fund contribution
Housing costs
Fees to independent examiner's organisation
Fee for independent examination
Misison support and donations
Support of Holy Cross Church family in Kiziba Refugee Camp, Rwanda
Support of organisations
Crosslinks
The Oakes Trust
Wycliffe Bible
Donations under £1,000 in the year
Stocks
Book stocks
There were no other fees paid to the Independent examiner's organisation.		 2023
£
9,000
3,838
2023
£
720
2023
£
1,653
1,000
1,000
1,000
400
5,053
2023
£
-		 2022
£
8,600
3,200
2022
£
594
2022
£
-
1,000
1,000
1,000
400
3,400
2022
£
100

8 Stocks

18

Holy Cross Gleadless Valley PCC

Notes to the Accounts - continued

For the year ended 31 December 2023

9 Debtors

Gift aid recoverable
Prepayments and accrued income
Creditors: amounts falling due within one year
Accruals
Other taxes and social security		 2023
£
1,826
814
2,640
2023
£
720
868
2,237		 2022
£
784
989
1,773
2022
£
923
397
1,320

10 Creditors: amounts falling due within one year

11 Designated funds

Youth and Children Ministry Fund
International Ministry Assistant fund
Vicar's Discretionary Fund
Building fund
Development fund		 Balance at
01-Jan-23
£
19,185
40,589
1,778
8,298
31,863
101,713		 Income
£
-
-
-
-
-
-		 Expenditure
£
-
(30,414)
-
-
-
(30,414)		 Transfers
£
8,000
-
(1,778)
-
(8,000)
(1,778)		 Balance at
31-Dec-23
£
27,185
10,175
-
8,298
23,863
69,521

The transfers into the designated funds are transfers from the general fund for the following purposes.

Youth and Children Ministry Fund

We cannot rely on external funding for the Youth and Children's Ministry and we are therefore steadily building up the fund from the General Fund to ensure there is sufficient to commit to a 3 year contract.

International Ministry Assistant Fund

The current contract for the International Ministry Assistant ends on 30 June 2025. As we cannot rely on external funding we are steadily building up the fund by transferring from the General Fund to ensure there is sufficient to fulfil the contract.

Vicar's Discretionary Fund

The PCC transfers into this fund to ensure there is always suffcient for the year.

Building Fund

An extension to the church is planned and in order to do this a substantial sum is needed to be raised. The PCC want, where possible, to transfer money into this fund.

Development Fund

This fund can be used for any developments approved by the PCC.

Analaysis of movement in designated funds - previous year
Youth and Children Ministry Fund
International Ministry Assistant fund
Vicar's Discretionary Fund
Building fund
Development fund		 Balance at
01-Jan-22
£
49,185
7,219
1,778
8,298
31,863
98,343		 Income
£
-
-
-
-
-
-		 Expenditure
£
-
(26,630)
-
-
-
(26,630)		 Transfers
£
(30,000)
60,000
-
-
-
30,000		 Balance at
31-Dec-22
£
19,185
40,589
1,778
8,298
31,863
101,713

19

Holy Cross Gleadless Valley PCC

Notes to the Accounts - continued

For the year ended 31 December 2023

12 Restricted funds

Youth and Children Ministry Fund
International Ministry Assistant Fund
Employment Fund
Vicar's Discretionary Fund
Other		 Balance at
01-Jan-23
£
16,000
777
39,675
-
-
56,452		 Income
£
22,850
-
688
7,438
7,500
38,476		 Expenditure
£
(14,150)
-
-
(1,865)
(8,078)
(24,093)		 Transfers
£
-
20,000
(20,000)
-
578
578		 Balance at
31-Dec-23
£
24,700
20,777
20,363
5,573
-
71,413

Description, nature and purposes of the fund

Youth and Children Ministry Fund

All Youth and Children's ministry employment costs are currently met by this fund.

International Ministry Assistant Fund

All International Ministry Assistant employment costs are currently met by this fund.

Employment Fund

This was created this year to enable supporters to give towards the employment of staff to be determined by the PCC according to need.

Vicar's Discretionary Fund

Includes specific grants, donations and related Gift Aid where appropriate. This fund is used by the vicar to support individuals and families suffering hardship.

Other Fund

Includes specific donations and related gift aid where appropriate, given to support attendance at the 2023 GAFCON conference.

Analysis of movements in restricted funds - previous year

Analysis of movements in restricted funds - previous year
Youth and Children Ministry Fund
International Ministry Assistant Fund
Employment Fund
Vicar's Discretionary Fund
Earmarked Collection Fund		 Balance at
01-Jan-22
£
12,000
-
35,050
-
-
47,050		 Income
£
4,000
3,250
4,625
2,140
150
14,165		 Expenditure
£
-
(2,473)
-
(2,176)
(150)
(4,799)		 Transfers
£
-
-
-
36
-
36		 Balance at
31-Dec-22
£
16,000
777
39,675
-
-
56,452

13 Net assets by fund

Net current assets
Prior year comparative
Net current assets		 General
funds
£
24,235
24,235
General
funds
£
27,035
27,035		 Designated
funds
£
69,521
69,521
Designated
funds
£
101,713
101,713		 Restricted
funds
£
71,413
71,413
Restricted
funds
£
56,452
56,452		 Total
2023
£
165,169
165,169
Total
2022
£
185,200
185,200

20

Holy Cross Gleadless Valley PCC

Notes to the Accounts - continued For the year ended 31 December 2023

14 Related party transactions

In addition to the disclosure in note 5 regarding trustee remuneration and expenses there were the following transactions:

PCC members donated £18,292 in addition to any amounts given within the collection, during the year.

Other related party transactions were:

21