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2022-12-31-accounts

REGISTERED CHARITY NUMBER: 1179960

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Statement of Financial Position 9 to 10
Notes to the Financial Statements 11 to 22
Detailed Statement of Financial Activities 23 to 24

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The Parochial Church Council members (PCC) have pleasure in presenting their report and the financial statements of the charity for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the Church Accounting Regulations 2006, the Charities Act 2011 and the provisions of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

All Saints PCC has the responsibility for co-operating with the lncumbent, the Reverend Oliver Coss, in promoting, in the Ecclesiastical Parish, the whole, continuing mission of the Church, both pastoral, ecclesiastical, social and sacramental. It also has maintenance responsibilities for the Church, the resident cafe, and the former curate's residence at 8 York Road. Following the closure of St. Katherine's Church in the mid-twentieth century, and redundancy of St. Peter's Church in 1998, the PCC is also responsible for the respective churchyards of those places of worship, although the churchyard of St Peter's Church is shortly to be vested in the Churches Conservation Trust once the Church Commissioners' Pastoral Measure comes into effect.

Page 1

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

OBJECTIVES AND ACTIVITIES

Significant activities

A new Quinquennial Inspection report on the condition of the church fabric was due to be written in 2022 and was provided in 2023 which will enable us to plan for the next phase of repairs and improvements to the church building. A scheme for the completion of the Quinquennial Works was devised by our Architects Stimpson Walton Bond, and the PCC awarded CEL Group (1989) Ltd the contract. Works began in October 2021, following a short delay and was signed off as complete during Spring 2022. In December 2021 the PCC commissioned Lampholder Design Ltd to formulate a scheme to upgrade and replace the lighting in the chancel, to address the problem of significant amounts of defunct infrastructure. This scheme, together with improvements in the dome lighting was completed by G. M. Laurence in Summer 2022.

The outbreak of the SARS-COV-2 (coronavirus) pandemic in the Spring of 2020 has continued to be highly consequential, though in 2022 the work of returning church life to a degree of normality entered a new phase. Despite the proliferation of new and more infections strains, the impact of covid continued to diminish. Special services were held to mark Her Majesty the Queen's 70th Accession Day, Ash Wednesday, Oak Apple Day, the Mayor's Charity Service, St Crispin's Day, and Remembrance Sunday. In the summer a grateful nation paid tribute to Her Majesty the Queen as we celebrated her Platinum Jubilee, marked in Northampton with the largest Military Pageant in living memory and a festal Choral Evensong at All Saints'. Mere months later, the nation again came together to mourn her death, beginning a ten-day period of special commemorative events and memorials. The death of the Sovereign is difficult to fathom for those who have lived all their lives in the reign of such a beloved Queen, but the sorrow of this national bereavement was tinged with the gladness of the accession of the new King, Charles III. According to local protocol, All Saints' Church (and the Portico in particular) became the stage upon which the Proclamation of the New King's Reign was announced, and a huge crowd gathered - just as they did for the memorials to the late Queen - to mark this historic moment.

This year continued a return to our liturgical norms, and saw the resumption of choral activities in a slightly more familiar shape. At the end of the summer, our Director of Music Jem Lowther requested some changes to his working pattern to allow more time to be given externally and to his personal obligations. This resulted in a shortening of his working week, at a higher pro-rata salary to reflect his acquired experience and training, but no consequent increase in the cost to the PCC at this stage. Evensongs continued to be sung on Wednesdays and Thursdays, but Mondays permanently removed as a rehearsal evening. Eucharistic services were reestablished on Monday, Wednesday, Thursday and Friday except during the Rector's absence from work during the autumn.

In the beginning of this reporting period, a process to assign the lease to a new tenant, Craig Ryan trading as 'All Saints' Bistro' was still in progress. This process reached a conclusion, with the previously warned financial loss against our former arrangement with The Good Loaf CIC. We hope that this new situation will bring more creativity and more of an entrepreneurial spirit to the operation of the bistro, amid a challenging economic backdrop.

Despite the fact that a Magistrate's Decision has still not been obtained, a new working agreement with West Northamptonshire Council has been brokered. Our gratitude for that goes to the Cabinet Member for Highways, who enabled a very productive series of meetings. Almost all of our old familiar problems have disappeared.

A new finance committee formed in the latter part of 2021 has continued its industrious and diligent work. The PCC expresses its deep gratitude to all staff and officers for their exceptionally hard work throughout this year, and the forbearance they have exhibited in the face of every challenge. Among the achievements this year have been increased oversight of financial monitoring, a team of people who have taken responsibility for counting money, banking, and responding to payment requests, and the installation of a new contactless giving machine courtesy of a scheme funded by the National Church of England.

While we hope to restore our programme to something resembling our pre-pandemic schedule, worship continues in its normal pattern, namely:

Page 2

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

OBJECTIVES AND ACTIVITIES

Sunday 8am Holy Communion
9.15am Morning Prayer
10.30am Choral Eucharist or Solemn Mass
Monday 12.30pm Low Mass
Wednesday 12.30pm Holy Communion
5.30pm Choral Evensong (term-time)
Thursday 12.30pm Low Mass
6pm Choral Evensong (term-time)
Friday 12.30pm Low Mass

FINANCIAL REVIEW

Financial Position

We are very thankful for the skill and dedication that Susan Galloway and Trevena Champion have brought to our financial management, and to Paul Adams from the Diocese of Peterborough for his help and support. At the time of the resignation of the former treasurer, we undertook to review the way in which we did things, and are further indebted to the members of our newly formed Finance Committee who have done much to underpin and support the work carried out by our parish officers. This work has been expertly and tenaciously co-ordinated by Jeff Lee, and we're grateful beyond measure to him for taking this work forward on behalf of the churchwardens.

The role of treasurer can hitherto be summarised in six simple statements:

Total incoming resources for the year ending 31/12/2022 were £229,093 (2021: £283,553).

Total resources expended for the year ending 31/12/2022 were £236,007 (2021: £276,898).

This resulted in a deficit for the year ending 31/12/2022 of £58,980 after net losses on investments of £52,066 (2021: surplus of £51,547, after net gains on investments of £44,892).

This includes £22,000 from the Constance Travis Charitable Trust for the choral activities of All Saints Church.

We extend many thanks to those in our Church family that donate to the church regularly by bank standing order. This reliable source of income enables the church to plan for the future. Every donation really does help. If there are any others who would like to join the scheme, we would be delighted to hear from you.

Please keep in mind that if you wish the church to claim gift aid on your donations you must pay enough income tax for the government to refund 25% of your church donation out of the tax you have paid.

If you don't pay income tax, or do not wish the church to claim gift aid on your giving, this still does not bar you from giving to the church by standing order.

Thank you to our congregation that generously give on the Church's collection plate. To all those that partake in fund-raising activities for the Church we extend our gratitude. We really are thankful for all the money received.

One important way we can all support the ministry of our Church into the future is by leaving a legacy in our Wills. If you wish to speak to me in private about how to go about doing this, we will be happy to assist you.

We now accept contactless donations. All donations are gratefully received.

Page 3

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

FINANCIAL REVIEW

Reserves policy

All Saints' Church PCC has pursued a policy of developing a reserve in excess of £6,946.75 (roughly equivalent to 90 days of salaries and fees, according to 2018 figures) plus RPI sufficient to maintain basic resilience.

While the PCC has not drawn on our investment fund or the Permanent Endowment in order to meet the PCC's regular expenditure, it has maintained the building as matters have arisen.

Going concern

The trustees of Northampton All Saints Church have performed their own assessment of the Church's ability to continue as a going concern to assure themselves of the validity of this assumption when preparing the accounts. In making this assessment, the trustees have taken account all available information about the future. This is a forward-looking attentive assessment which included: -

Further, there are no events after the balance sheet date of 31st December 2022 that require disclosure or changes to the accounts.

Funds in deficit

A deficit in the General (Unrestricted) Fund shows considerable decrease from the position on 1 January 2022. This deficit was first caused by a substantial loss following the collapse of a bell manufacturer who were due to sell-on a set of bells removed from All Saints' Church when a new ring of ten bells were installed in 2006. The PCC registered this as unrealised income when our former bells, which otherwise would have been sold, were liquidated among the assets of the defunct firm. Further investment losses during the financial crash of 2008, meant the PCC registered a general (unrestricted) deficit of £192,143 in 2010, and measures have been applied over the ensuing years to continue paying down that loss. This has been aided by favourable market conditions. The PCC will consider and explore options within the next financial year for the writing down of that deficit, and of the unrestricted funds, or whether it should continue its present policy.

Page 4

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The governing body of the charity is the Parochial Church Council (PCC) is a Body Corporate established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The method of appointment of PCC members is set out in the Church Representation Rules, set out in the appendices to the measure. The charity was registered in 2018, and given the number 1179960.

Recruitment and appointment of new trustees

The Trustees of the Charity are, with the exception of ex-officio clergy members, churchwardens, and those co-opted, elected at the Annual Parish Church Meeting (APCM) in accordance with constitutional arrangements approved by the Church of England. Those elected directly on to the PCC are complemented by persons elected at the APCM to the Deanery Synod.

Members already elected to Diocesan Synod who are parishioners are also Members of the PCC. Eligibility for election is dependent on the individual being on the electoral roll, aged 16 years or over, and confirmed in the Church of England. Members are expected to share ideas and take seriously their responsibilities to other members of the congregation. The term of office is one year, though in the case of resignations or vacancies, however caused, occasional elections are held at the APCM. All members of the PCC (Trustees) have an equal vote at meetings.

Meetings and structure

The PCC is scheduled to meet approximately six times a year, though additional special meetings may be called if necessary. All significant decisions made by the Charity, including financial decisions, are the sole responsibility of the PCC. Its members, however, form committees, to which other members of the wider church community may be, and usually are, co-opted. These committees are expected to examine and debate matters, manage areas of work, and make recommendations to the PCC. Amongst them is the Finance Committee whose role is to examine financial details, draws up plans and makes recommendations to the PCC. A firm of accountants is employed to draw up the financial statements for the consideration of the PCC on an annual basis.

Volunteers

The Church is dependent on a huge number of volunteers involved in Church activities. The Church greatly values the considerable time so generously given by all volunteers.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1179960

Principal address

All Saints Church George Row Northampton NN1 1DF

Page 5

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees

Council members

Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.

During 2022 and up to the date the financial statements were approved, the following served as members of the PCC:

Name Position Appointment/Resignation date
The Revered Oliver Coss Chairman
Dr. Robin Sheppard Vice Chair, Safeguarding Officer
Mrs. Katie Steel* Secretary, co-opted
Mr. Matthew Farmer
Mrs. Alison Mills Churchwarden, ex-officio
Mr. Tom Brown-Flowers Deanery Synod Member
Mr. Jem Lowther Director of Music, co-opted
Mr. Jeff Lee Resigned 21st May 2023
Mr. Michael Waterfield
Mrs. Barbara Waterfield
Churchwarden, ex-officio,
Mr. Richard Lambert Deanery Synod Member Resigned 10th April 2022
Mr. John Drew Resigned 10th April 2022
Ms. Rachel Hewison
Mr. Martin Rose
Mr. Oliver Longden
Mrs. Trevena Champion*
Ms. Susan Galloway*
Mr. John Warr Appointed 10th April 2022

*Co-opted member but not a Trustee

Independent Examiner

DNG Dove Naish LLP Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

Incumbent

The Reverend Oliver Coss BSc MA FRSA SSC

Electoral Roll

There are 80 members of the congregation on the Electoral Roll.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. Rev. Fr. O Coss - Trustee

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

Independent examiner's report to the trustees of PCC of All Saints' Church, Northampton

I report to the charity trustees on my examination of the accounts of PCC of All Saints' Church, Northampton (the Charity) for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Charity’s accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 Charity as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts 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 accounts to be reached.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our independent examination work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our independent examination work, for this report, or for the opinions we have formed.

Nicola Fox FCA

DNG Dove Naish LLP Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

Date: 15 December 2023

Page 7

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
funds
Notes
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
3
66,517
Funds from church activities 4
34,491
Investment income
5
14,461
Total
115,469
EXPENDITURE ON
Raising funds
6
1,225
Charitable activities
7
Charitable activities
97,205
Other
637
Total
99,067
Net gains/(losses) on
investments
(9,404)
NET
INCOME/(EXPENDITURE)
6,998
Transfers between funds
20
(512)
Net movement in funds
6,486
RECONCILIATION OF
FUNDS
Total funds brought forward
137,922
TOTAL FUNDS CARRIED
FORWARD
144,408		 Restricted
Endowment
funds
funds
£
£
115,355
-
-
-
-
-
115,355
-
1,124
-
135,815
-
-
-
136,939
-
(19,695)
(22,967)
(41,279)
(22,967)
512
-
(40,767)
(22,967)
329,188
230,339
288,421
207,372		 2022
Total
funds
£
181,872
34,491
14,461
230,824
2,349
233,020
637
236,006
(52,066)
(57,248)
-
(57,248)
697,449
640,201		 2021
Total
funds
£
262,430
6,840
14,283
283,553
1,835
274,365
698
276,898
44,892
51,547
-
51,547
645,902
697,449

The notes form part of these financial statements

Page 8

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
13
1,259
Investments
Investments
14
49,445
Investment property
15
170,000
220,704
CURRENT ASSETS
Debtors
16
17,967
Cash at bank
69,369
87,336
CREDITORS
Amounts falling due within
one year
17
(163,632)
NET CURRENT ASSETS
(76,296)
TOTAL ASSETS LESS
CURRENT LIABILITIES
144,408
NET ASSETS
144,408		 Restricted
funds
£
-
114,223
-
114,223
-
174,399
174,399
(201)
174,198
288,421
288,421
Endowment
funds
£
-
207,372
-
207,372
-
-
-
-
-
207,372
207,372		 2022
Total
funds
£
1,259
371,040
170,000
542,299
17,967
243,768
261,735
(163,833)
97,902
640,201
640,201		 2021
Total
funds
£
1,894
424,719
170,000
596,613
1,756
255,610
257,366
(156,530)
100,836
697,449
697,449

The notes form part of these financial statements

Page 9

continued...

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

STATEMENT OF FINANCIAL POSITION - continued 31 DECEMBER 2022

Unrestricted
Restricted
Endowment
funds
funds
funds
Notes
£
£
£
FUNDS
20
Unrestricted funds:
General fund
Property Revaluation Reserve
Valerie Travis Music Fund
Reserves policy
Restricted funds:
Fabric Fund
Nora Moore Bequest
Bell Fund
St Peters
Constance Travis Charitable Trust Fund
Peterborough Diocese - Mission Grant
West Organ Restoration fund- Bernard
Sunley Foundation
Endowment funds:
Permanent Endowment Fund
FCM Boys' Choir Endowment Fund
TOTAL FUNDS		 2022
Total
funds
£
(37,902)
115,000
60,363
6,947
144,408
232,787
35,123
2,480
30
180
-
17,821
288,421
180,020
27,352
207,372
640,201		 2021
Total
funds
£
(55,261)
115,000
69,376
8,807
137,922
262,052
41,459
2,364
30
-
2,380
20,903
329,188
200,227
30,112
230,339
697,449

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. O Coss - Trustee

The notes form part of these financial statements

Page 10

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. LEGAL FORM

PCC of All Saints Church, Northampton is an unincorporated charity registered with the Charity Commission for England and Wales. Its registered address is listed on page 4.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£).

The trustees have considered a period of 12 months from the date of approval of these financial statements and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Music Equipment 5% - 25% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Page 11

continued...

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is shown as gains or losses in the Statement of Financial Activities.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Investments

UK quoted investments are included within the accounts at market value.

3. DONATIONS AND LEGACIES

Collections
Gift Aid recoverable
Legacies
Grants		 2022
£
40,510
26,122
38,515
76,725
181,872		 2021
£
37,091
-
66,000
159,339
262,430

Page 12

continued...

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

3. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

Constance Travis Settlement
DCMS
Bernard Sunley Foundation
NBC
National Churches Trust
4.
FUNDS FROM CHURCH ACTIVITIES
Coffee shop rent
Coffee shop recharges
Fees
5.
INVESTMENT INCOME
Rents received (York Road)
Interest and dividends
6.
RAISING FUNDS
Investment management costs
Portfolio management
Property costs - York Road		 2022
£
22,000
21,125
-
-
33,600
76,725
2022
£
19,719
4,492
10,280
34,491
2022
£
9,000
5,461
14,461
2022
£
1,611
738
2,349		 2021
£
20,000
25,162
82,000
250
31,927
159,339
2021
£
-
-
6,840
6,840
2021
£
9,000
5,283
14,283
2021
£
1,835
-
1,835		 2021
£
20,000
25,162
82,000
250
31,927
159,339
2021
£
-
-
6,840
6,840
2021
£
9,000
5,283
14,283
2021
£
1,835
-
1,835

Page 13

continued...

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

7. CHARITABLE ACTIVITIES COSTS

Charitable activities
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Diocesan Parish Share
Café Costs
Service expenses
Music expenses
Organ and piano expenses
Church running expenses
Church maintenance
Administration - printing, stationery, telephone etc.		 Direct
Costs (see
note 8)
£
230,384		 Support
costs
£
2,636
2022
£
40,656
2,688
1,631
31,391
11,505
21,766
106,629
14,118
230,384		 Totals
£
233,020
2021
£
30,000
-
1,166
32,697
127,244
18,486
54,113
7,940
271,646

9. INDEPENDENT EXAMINERS' REMUNERATION

Fees payable to the Independent Examiner for the examination of the financial statements

2022
£
2,200		 2021
£
2,000

10. TRUSTEES' REMUNERATION AND BENEFITS

During the year trustees' emoluments were paid in respect of contracts of service between the church and Mr J Lowther in his capacity as Music Director totalling £20,820.

No remuneration is paid to any trustee for acting in this capacity.

Trustees' expenses

During the year, travel and admin expenses were reimbursed to 2 (2021: 3) trustees totalling £604 (2021: £1,825).

11. STAFF COSTS

The average monthly number of employees during the year was as follows:

Employees 2022
1		 2021
1

No employees received emoluments in excess of £60,000.

Page 14

continued...

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
37,341
Funds from church activities
6,840
Investment income
14,283
Total
58,464
EXPENDITURE ON
Raising funds
597
Charitable activities
Charitable activities
82,060
Other
698
Total
83,355
Net gains on investments
3,804
NET INCOME/(EXPENDITURE)
(21,087)
Transfers between funds
(1,000)
Net movement in funds
(22,087)
RECONCILIATION OF FUNDS
Total funds brought forward
160,009
TOTAL FUNDS CARRIED FORWARD
137,922		 Restricted
Endowment
funds
funds
£
£
225,089
-
-
-
-
-
225,089
-
1,238
-
192,305
-
-
-
193,543
-
8,769
32,319
40,315
32,319
1,000
-
41,315
32,319
287,873
198,020
329,188
230,339		 Total
funds
£
262,430
6,840
14,283
283,553
1,835
274,365
698
276,898
44,892
51,547
-
51,547
645,902
697,449

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

13. TANGIBLE FIXED ASSETS

13. TANGIBLE FIXED ASSETS
Music and
computer
equipment
£
COST
At 1 January 2022 and
31 December 2022 7,540
DEPRECIATION
At 1 January 2022 5,646
Charge for year 635
At 31 December 2022 6,281
NET BOOK VALUE
At 31 December 2022 1,259
At 31 December 2021 1,894
14. FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 January 2022 424,719
Disposals (2,488)
Revaluations (51,191)
At 31 December 2022 371,040
NET BOOK VALUE
At 31 December 2022 371,040
At 31 December 2021 424,719
There were no investment assets outside the UK.
Included within the above is cash of 11,298 (2021: £9,109).
15. INVESTMENT PROPERTY
£
FAIR VALUE
At 1 January 2022
and 31 December 2022 170,000
NET BOOK VALUE
At 31 December 2022 170,000
At 31 December 2021 170,000

The investment property was valued on 4th February 2019 by a chartered surveyor. It is the opinion of the trustees that the value held in the accounts shows a true representation for the current market conditions.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Prepayments and accrued income
Other debtors
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 18)
Trade creditors
PAYE & NIC
Other creditors
Accruals and deferred income		 2022
£
2,001
15,966
17,967
2022
£
149,622
4,355
2,162
5,193
2,501
163,833		 2021
£
256
1,500
1,756
2021
£
145,979
2,546
528
5,135
2,342		 2021
£
256
1,500
1,756
156,530

18. LOANS

An analysis of the maturity of loans is given below:

Amounts falling due within one year on demand:
Bank overdrafts		 2022
£
149,622		 2021
£
145,979

A technical (computed) bank overdraft arises where a fund is in deficit or where the fund comprises mainly non-cash assets. This is not indicative of an actual overdraft facility at the bank.

19. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years		 2022
£
1,699
5,526
-
7,225		 2021
£
2,107
6,797
428
9,332

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

20. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Property Revaluation Reserve
Valerie Travis Music Fund
Reserves policy
Restricted funds
Fabric Fund
Nora Moore Bequest
Bell Fund
St Peters
Constance Travis Charitable Trust
Fund
Peterborough Diocese - Mission Grant
West Organ Restoration fund- Bernard
Sunley Foundation
Endowment funds
Permanent Endowment Fund
FCM Boys' Choir Endowment Fund
TOTAL FUNDS		 At 1/1/22
£
(55,261)
115,000
69,376
8,807
137,922
262,052
41,459
2,364
30
-
2,380
20,903
329,188
200,227
30,112
230,339
697,449		 Net
movement
in funds
£
16,011
-
(9,013)
-
6,998
(29,265)
(6,336)
116
-
1,180
-
(6,974)
(41,279)
(20,207)
(2,760)
(22,967)
(57,248)		 Transfers
between
funds
£
1,348
-
-
(1,860)
(512)
-
-
-
-
(1,000)
(2,380)
3,892
512
-
-
-
-		 At
31/12/22
£
(37,902)
115,000
60,363
6,947
144,408
232,787
35,123
2,480
30
180
-
17,821
288,421
180,020
27,352
207,372
640,201

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

20. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Valerie Travis Music Fund
Restricted funds
Fabric Fund
Nora Moore Bequest
Bell Fund
Constance Travis Charitable Trust
Fund
West Organ Restoration fund- Bernard
Sunley Foundation
Endowment funds
Permanent Endowment Fund
FCM Boys' Choir Endowment Fund
TOTAL FUNDS		 Incoming
resources
£
115,469
-
115,469
91,847
-
116
22,000
1,392
115,355
-
-
-
230,824		 Resources
expended
£
(98,580)
(487)
(99,067)
(107,411)
(342)
-
(20,820)
(8,366)
(136,939)
-
-
-
(236,006)		 Gains and
Movement
losses
in funds
£
£
(878)
16,011
(8,526)
(9,013)
(9,404)
6,998
(13,701)
(29,265)
(5,994)
(6,336)
-
116
-
1,180
-
(6,974)
(19,695)
(41,279)
(20,207)
(20,207)
(2,760)
(2,760)
(22,967)
(22,967)
(52,066)
(57,248)

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

20. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Property Revaluation Reserve
Valerie Travis Music Fund
Reserves policy
Restricted funds
Fabric Fund
Nora Moore Bequest
Bell Fund
St Peters
Constance Travis Charitable Trust
Fund
Peterborough Diocese - Mission Grant
West Organ Restoration fund- Bernard
Sunley Foundation
Endowment funds
Permanent Endowment Fund
FCM Boys' Choir Endowment Fund
TOTAL FUNDS		 At 1/1/21
£
(29,907)
115,000
66,109
8,807
160,009
198,847
39,167
2,364
30
-
2,380
45,085
287,873
172,385
25,635
198,020
645,902		 Net
movement
in funds
£
(24,354)
-
3,267
-
(21,087)
63,205
2,292
-
-
(1,000)
-
(24,182)
40,315
27,842
4,477
32,319
51,547		 Transfers
between
funds
£
(1,000)
-
-
-
(1,000)
-
-
-
-
1,000
-
-
1,000
-
-
-
-		 At
31/12/21
£
(55,261)
115,000
69,376
8,807
137,922
262,052
41,459
2,364
30
-
2,380
20,903
329,188
200,227
30,112
230,339
697,449

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PCC OF ALL SAINTS' CHURCH, NORTHAMPTON NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

20. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Valerie Travis Music Fund
Restricted funds
Fabric Fund
Nora Moore Bequest
Constance Travis Charitable Trust
Fund
West Organ Restoration fund- Bernard
Sunley Foundation
Endowment funds
Permanent Endowment Fund
FCM Boys' Choir Endowment Fund
TOTAL FUNDS		 Incoming
resources
£
58,464
-
58,464
102,027
-
20,000
103,062
225,089
-
-
-
283,553		 Resources
expended
£
(82,818)
(537)
(83,355)
(44,922)
(377)
(21,000)
(127,244)
(193,543)
-
-
-
(276,898)		 Gains and
Movement
losses
in funds
£
£
-
(24,354)
3,804
3,267
3,804
(21,087)
6,100
63,205
2,669
2,292
-
(1,000)
-
(24,182)
8,769
40,315
27,842
27,842
4,477
4,477
32,319
32,319
44,892
51,547

Funds information:

The designated and restricted funds are for the following purposes:

Fabric Fund - donations specifically towards maintenance of the buildings and fabric of the church.

Nora Moore Bequest - funds to be applied in accordance with the Will of Nora Moore deceased.

Bell Fund - funds ring fenced for bell ringers' activities.

St Peters - represents funds transferred when St Peters Church was closed - to be applied to maintenance of the St Peters churchyard.

Valerie Travis Music Fund - funds received from a will to support the music department and for any other general purposes.

Constance Travis Charitable Trust Fund- grant received to help towards the salary of the director of music.

Peterborough Diocese - Mission Grant - for use of mission in the Parish.

Friends of Cathedral Music (FCM) Boys' Choir Endowment Fund - an endowment grant of £25,000, for the continuing development and recruitment of the boys' choir. Grant received in 2019.

West Organ Restoration Fund - grant received to repair the organ. The balance on the fund will be used on future capital and repairs projects

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PCC OF ALL SAINTS' CHURCH, NORTHAMPTON NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

20. MOVEMENT IN FUNDS - continued

Transfers between funds

The transfer from the Constance Travis Charitable Trust Fund to the General Fund is the reversal of a transfer in the prior year.

The transfer from the Peterborough Diocese - Mission Grant Fund to the General Fund is the transfer of a residual balance from a project that ended in an earlier year.

The transfer from the Designated Reserves Fund to the General Fund is due to an amendment to the reserves policy.

The transfer from the General Fund to the West Organ Restoration Fund is due to a misallocation of income in a previous year.

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2022.

22. OPERATING LEASES - LESSOR

Minimum lease receipts under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years
 2022
£
6,750
-
-

6,750		 2021
£
6,750
-

-
6,750

Page 22

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

INCOME AND ENDOWMENTS
Donations and legacies
Collections
Gift Aid recoverable
Legacies
Grants
Funds from church activities
Coffee shop rent
Coffee shop recharges
Fees
Investment income
Rents received (York Road)
Interest and dividends
Total incoming resources
EXPENDITURE
Investment management costs
Portfolio management
Property costs - York Road
Charitable activities
Diocesan Parish Share
Café Costs
Service expenses
Music expenses
Organ and piano expenses
Church running expenses
Church maintenance
Administration - printing, stationery,
telephone etc.
Other
Depreciation of tangible fixed assets		 2022
£
40,510
26,122
38,515
76,725
181,872
19,719
4,492
10,280
34,491
9,000
5,461
14,461
230,824
1,611
738
2,349
40,656
2,688
1,631
31,391
11,505
21,766
106,629
14,118
230,384
637		 2021
£
37,091
-
66,000
159,339
262,430
-
-
6,840
6,840
9,000
5,283
14,283
283,553
1,835
-
1,835
30,000
-
1,166
32,697
127,244
18,486
54,113
7,940
271,646
698

This page does not form part of the statutory financial statements

Page 23

PCC OF ALL SAINTS' CHURCH, NORTHAMPTON

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Support costs
Finance
Bank charges
Governance costs
Independent examiners remuneration
Accountancy and legal fees
Total resources expended
Net (expenditure)/income before gains
and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net (expenditure)/income		 2022
£
136
2,000
500
2,500
236,006
(5,182)
(52,066)
(57,248)		 2021
£
12
2,000
707
2,707
276,898
6,655
44,892
51,547

This page does not form part of the statutory financial statements

Page 24