REGISTERED CILUUTY NLTrqBER: 1182334 REPORT OF THE TRUSTEES ￿ND UNAUDITED FINANCIAL STATLIILY. TS FOR THE ENDED 31 DECEMBER 2024 FOR THE PAROCHIAL CHLRCH COLTh, CIL OF THE ECCLESIASTICAL PARISH OF ST hlAR COVENfRY (sr TrlARK'S: COITNTRY) Bernard Rogers & Co Bank Gallery Higb Stre KeDiiwor W8rni¢kshir¢ CV8 ILY THE PAROCHIAL CHL]iCH COUNCIL OF THE ECCLESLISTtCAL PARtSH OF ST IJARK COVEIITRY (ST MARK'S COVENTRY) COL4fiEpifs OF THE FINANCIAL STATEMENTS for the Year Ell￿ed 31 Detember 2024 P4ge RefereDee Adt￿l￿tr4tlYt DetAlls Re[￿￿rt of the Trnytees 2 to 6 Independent Ex*n￿Der'S Report StatemeDtof FIDanclal Activlti Balanc¢ Sbeet L¥otes to tb¢ FfllancftAI StAtements 10 to 19 Drtalled Ststement of FiD*nthi A¢tiYities 20 to 21 THF, PAROCHI.41. CHURCH COUNCIL OF THE ECCLESIASTICAL PAR]SH OF ST_MARK COVEhTRY {ST MARK'S COVENTRY) REFEREP4CE AND AD.IIDilSTRATIVE DETAU for the Year Ended 31 D￿nther 2024 TRusfEES P Atkillson. Incumbent (Chair) Leigb. Associate Vicar A Lowe. Churchw8TdeD D MaTkbam- ChurCh￿￿￿ell {appoiJJted 2.5.24) N Jollt5- El￿t￿j Member PCC [resi8nEd 2.5.24} N Phipps- Elected Nlember PCC I Wicken5- Elected Member PCC {resigned 2.5.24) ABavester- Elected Menther PCC A H2ll- Elected.MtllLber PCC Hodga8- Elected Mernber pcc cfre&8urer} S A Scor.- Elected Member PCC (fvTrea5urerl (Tesigned 2.5.24) E Chins7ti- Elected MemberPCC E School￿- Elect¢d Menther PCC E ChOla￿￿- Elected I{e￿ber PCC Tm￿S- Eledtd Member PCC L Shery- Elected McmTrtr PCC S T Epa- Elecred Member PCC {appoitLted 2.5.24} M Hinch. Elected MemberPCC {appoirLted 2.5.24) M IanGa51cr- Elected Men)b¢T PCC {appointEd 2.5.24) PRLYCIPAL ADDRESS Bird Strttt Coventri, West.Midlat CVI 5FX REGJST&RKD CHARITY Tr4UTrIBER 1182334 INDEPENDENT EK4MINER Bernard Roge￿ & Co Bap& Gallery High Street KenilM￿llh Warwickshire CV8 ILY CAF BaDk IAmited ?5 Kings Hill Avcnue Kill&% Hill ME19 4JQ Page I THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF ST.I.JAII COVLLYTRY (ST MARK'S COVEFITRYJ REPORT OF THE TRLSTEES for the Y¢ar Ended 31 D¢¢emb¢r 21 Thr ttUSteC5 pfts¢n'. theiT repDrt financial stat￿llents of the cP￿ity for the year ended 31 DeceTllber 2024. The trusttcs havc 2dopttd the prowsions of Accounting Repjrting by Ch3titi¢5,' StatEment of Recommended Practice applicable to ¢ha¥ities preparill8 their accounts irL accordance with th¢ FIDan¢1￿ Reporting Standard applicable in the UK and Republi¢ oi Ireland (FRS IO..) (effective l January 2019). OBJECTITrIS AND ACTIVITIES ObJectlves and 9Sms Tr&e piiwipal charitable objective of St Mark's is the adYatJ¢ement of religion. Subsidiary ¢h8ritabl¢ obje¢tive$ are the prEv¢ntion oi rE]ief of th05¢ itE POYCrty. reiief of those illneeii and the ad*allceJneDt of the arts, culbJr¢ atd h¢ritag¢. Tbis is articulated itt our iision state￿￿k to pmrnote'LÉfe in the City,. Thcre are three components.. - Seeing people filld faith. S6eing people s6t free.. and - Seeing th¢ city of Cov¢nty flourish. Publ1£ benellt The Trustees have complied duty to b&ve due regatd to the guidance on public beuefit published by thc Charity c01titni￿lOA in exercising their powers ￿ dutie5. Exatllple8 of this public benefit C8n be foulld ill the other parts of this Report Th¢ Charity Consti￿leS &public bellefii elltity as defined by FRS 102. ACHIEVEMENT AND PF.RFOILIWiCE St Mark's is situated in tbe centre of Coventy, on th¢ edge of the pedestrianised OTea, a stone's throw froJJ the eentral bus sthtiDn. It is close to Coventy utiivers.ty alld many student hal￿- of residellce (including ODe directly opposite) &nd bDrder8 ￿.)IfieldS and Swanswell ParK relatively d4)rtvedpths of the ciry. Th¢ ¢hwch buildmg, higbiy Si8Dificallt tn the City, cot)tsiLs a mural palllt￿ by Gernian re￿ge¢ Hans Feibus¢h in 1963. NEvertbeles& it wa5 Glosed 1972. the bricked up a￿1 the church leased to tbe NHS to ust &s outpatiEUts' Clinic. In 2006 tbe NHS moyed out and the bllildin8 fell into disrepair. [( is Currently on the Historic England BuildirLB at Risk Re￿ter. In 2016, the Bishop of Covenlry inTrited Holy Trinity Bron]ptoD to P2rthtr the diocese and plallt a new city-ctntre resourc¢ ¢huT¢h, specifically tt> reach out to ihe nwiy Sthdents and yowig people in the area. The tw church seeks to r¢soiu¢e others in the diocese, m(Kiellin8 mission th¢ form of Church pl8ntiiig. trainin& and resourcing other ehurcbes in ih¢ area. Revd Phil Atkinson was a￿oiThttd on l January 2017. alld on tbe buiidillg eommenced in April. As the year progressel NHS fLKtures and fittittBS were renx)vel and the buildiDg V¥7S repaired and renovated into a ￿llY vs.-ble Spare with ele¢tri¢s. heating, and I￿hlIng neTrty installed. The ehurch lauDch¢d on l October 2017 and re¢eiYed Considerable media interest. By the end of 2017. the church H•s meeting ort a weekly basis at a 4pm Sund8w Qather.ng, attractillg ¢.150 people each week. kn 2019 ther¢ a move to 2 services- with provision for ehildrell glld youth iti the morning, and a focus on StUd￿ts a￿d young people iu e%tniD& The COVtD p8ndemi¢ bad a sigtiifi¢aDt ampact on the church- with &￿viceS alld otlLerevents n￿Ved online. Tbis on]ine provision bas contillued, with the mornillg gathering now broadc￿ live. Tbe avernge Sunday congregation now 8tands at ￿'OU￿d 250-300 5PEead &Gfos5 IK>th gatherillES. FolloBillg mucb preparation aDd prdyer: our first church pl&ntwa5 sent oui in Septemb¢r 2021, led bv Matt and Loma Spina, supported by a sent out from St Marks. A sewnd ChU￿h plallt sent out in Aprit 2022. led by Paul Pavlo￿ also sllp￿rt¢dby a team that W8s sent out from St Marks. Page 2 THE PAROCHL4L CHLRCH COLryCIL OF THE ECCLESIASTICAL PARISH OF ST MAR covLYrRY {sr MARK'S COVENTRY) REPORT OF THE TRLSTEES for the Year Ended31 Decellther 21124 AcHIEVEmETr￿ AND PERFORMLNCE ITL 2024, St Makn A¢ademy w&8 launcbtAL seeking to develop yOTr*llg mi55i0nary leadets engaging the￿- heads. hearts and hands for God. To daic, 36 hal'e been through the PTogTamtne, Tnany subsequeutLy erlljployed in ¢hur¢h plallting across the diwese. Past A¢hkvem¢nts The prelioits ￿lu￿1 report had listed goals for 2if24. We have sought to achieve them tll tb¢ folloMryn8 ways.. Continuing to see people t]nd faltb We ran 3 Alpha courses during 2024 and eollaboratrd several other chutche5 across th¢ dio¢¢se to join us on our Alph& Holy Spirit Day, helping them deliver their courses. TTr.¢re w¢r¢ & rall8e of kid5, yOUtM S￿dentS, mcn'4 atsd women's mi&5roDal tvBots that took p]a¢¢ - all op¢n to people outside the clLurclL It is difficult to &4gcss tbe nutnbers of people ihat ¢8me to faith, though we hai'e sttn all increas¢ iu Don£hristiaJJs att¢nding Alpha. There ￿tre 9 people who were baptised in 21r24 and we bav¢ bad seve￿1 peoplc display interest irl journeying towards Baptisr Conttnuing to see people r￿d freedonj We saw Sullday attendance increase lo c25￿3{￿). A reLwDable proportion of aduhs sre members of rnid-weeL groups but numbers have been limited by the lack of leadEts to stan new groups. Towards the ejth of the year. we streamlined our midwe¢k group5, repositioning our activiry grollps as'ever.ts' atld our community groups as sin4)ly'gTOUPS'. We have id¢ntifi¢dn¢w l¢adcr8, I￿r¢ased the 5UPPOrt available to leadets oyore g¢ll￿aUy- and are poised to I￿nch ot least 3 new groups in early 2025. FolloAryng focused efforL hosting vision aad 8iVill8 SuTMlays, con8regatioDal gtving in¢re8sed in 2024. By the end of the year 2024 the total reserves sthod at £307.978 {2023.. £277,422). 13.6 /0 of this is restricted funds, conu)aTed to 21.1°/D ￿ 2023. St Marks Acaderny grew from strenÈth to strength during the yeAr- atlrdctillg new students and new partner churchcs - iucluding St Peters Hillfields, Si Oswalds Tile Hill Ristll Clll]"st WykeD. The Lantern B¢dwortl4 All Saints Bedwortl¥ c1￿1St Church Sun]n]erfi¢ld. CLM Co￿entsy, and St Pauls Learnin8tOD Sp& The nuTDber of srudents grew ta 17 tbis year and hayc seen many mov¢ ¢)n to Si8wficantroies. Contlllukng to see the tlty of Coventry flourish The World Food hub continued to develop. TheEe is t)oTh a dedicated volwite¢r team from St Marks, and th¢r¢ 1$ a strong relationship betwteu the FOLKI Hth aml the One Family cot]greEation at St Peter'5 wirh many r¢fvgees CO￿￿llg to faith atsd beingbapiised. In 2024 we strategically partnered Thith 3 charities and supported one missioD&ry in 2024 - Embrace, Canicts of Hope, CAP, and Sharon Jones through Latin LIDk. The aim to give of our fi￿dIng ￿￿Ual incojne Away to support local and int¢rn#tionai chariiies. ID tr024, we gdTr'e £46k l?023'. £32k) as part of our missional gi￿￿8, 12.6°A (2023.. I L.60/0I of our tothi unrestricttd tn¢ome. The d¢cisiot) to in¢rease tbis to aknve the I¢Y/o target was tsken by th¢ PCC in Septetnbti 2024 ill response to a ￿&her tbatt budgeted surplw beitlg [t￿rded. In addition to our partDer Ghatitie5, Trt rdised otrer £13.688 &8 part of thc ￿ve ChrisÉtllas canwaign, which supported r6fug£es and low-in¢om¢ familLC5 WSth essential needs O￿tr the Christmas period. We also rall a charity ball in early 2024 which raised over £3,195. Our first churcbptanl St Petevs sent out in 2021 and now has an av¢rdg¢ Sunday attendallce of 90-100. Our secottd plat]t. led by Paul Paylou to Risen Christ in IVyk¢n, seni out ill2022 and ha5 grov￿ to average Sllnday attendall¢e of 40-50. md have contact with over 150 people outside the church on L Theekly b&sis. Page 3 THE PAROCHIAL CHURCH COUPICIL OF THE ECCLESL4STICAL PARISH OF ST )IAR COVLYTRY (ST MARK'& COVErmiY) REPORT OF THE TRLTSTEES for (he YeAr Ended 31 De(eDther 2024 FINANCLiL REVIEW Fin4ncial p051don During th¢ year to 31 Decembtt 2024. we rec¢ived ¥oluDtary irncoll￿ of £359.018 (2023 - £283596). church &ctiYities 8enerated £17.694 {2023 - £12,318) and other ittcorK totalliDg £3.342 (2023 - £9,657). Against these a￿C￿ll￿ we spent a total of £374,i l 012023 - £337,739). with the majoriry being ￿MpnSed o! £66.000 (2023 - £63,000) to the Di￿e$¢ for the parish 5bare and £154.114 (2023 - £113.093) on staff cots. At the end of the pertod. the unre5trickd fimds Tes¢rv¢s stood at £266.022 (2023 - £218,914) alld Te5tri¢¢¢d fi￿d5 rE5ervcs werE £41,956 (2023 - £58,508). Tbe PCC aink8 to In&￿taiti a bA1￿ce io th¢ UDrestrieted fund% of al leastthre¢ nwnths of staff wa8e5. Cutr¢ntiy, however, there plans for rnajor bLildin8 wDrks on tbe chw¢h and so tnore fJ)Dds ore bein8 held. The principal sources of fullds rel&tin8 to uDr&¥triGtEd have becll donations from m¢mbeJ$ and other supporter& SuTplus funds are invested in deposit accounts Atow baDk. FuTuB￿ PLANS The church has now been exi5t¢n¢e for 7 years ar￿ the time 15 now right to review alld refresb the wsiotL and valu&8. This is planned for sprin9'8urDM￿ 2025. Itj the meantime, work CODlinued as follows.. Contlnulng to see peopk fmd falth - Investing iu Alph2, tnissional events targetd at 5pecifi¢ demographics. - Ollgoing traitsiThg and development forthe ¢oagr¢gation in missitsn atyl ¢vattgelisnL Contilluitlg to see peoplt set free - Continuittg to develop group leader5 atLd increase the groups. Our aittL 15 ID ni$¢ the proprtion Of the congregation in group& as OUT priw discipleship alld pastoral paLiway5. - Rim specific ¢￿]f¢r¢￿eS and eollrses io develop spiritual and emotional wellbeill& setting people free from past hurts and paiDS. Th¢ frst of these- Healthy Htarts- is plann￿1 for earty 2025. Contlnue to see the Clty flothsb - Develop specific plans for our ¢bur¢hplan¢ in collaboration with the diocese. - Stter4tben links Thith parttter agencies to better serve those in ueed in ow city. Thtre are sp¢¢ific opportullities challenges in the fortbcoming year: - Kids and youtb work continues to ww, and new portaeabin5 Pla[￿ed to address the pressure on spacc. - Staff recruitrk¢ntYemains ¢haileii ging- with vaGgllcie5 in operations paits¢ularly pressing. - Studen; work coniinlles to flouristy and specific donations will mean call invest in tllls are& in 2025. - Thc main church buildillg rE￿a]n5 otL the Buildityi a., risk, register. - Seeking stra￿gI¢ pthnerships to create social project& allocating staff time to engage in mission. srRI'CTURE. GOTrEILNANCE MANAGEMEYT Governlne document The Charity is 8overned by the PatoGhial Church Counknil po￿¢￿ Measure (1956) as aDKnded and Cbur¢h Representation Ru165 th&t Game into force on 2 January 1957 alld is registered with the Chatity Commissioners {No. 1182334). Page 4 THE PAROCHIAL CHLIiCH COUNCIL OF THE ECCLESIASTICAL PARISH OF Sf IJAR COVENTRY (ST MAiiK'& COVE]%TRY) REPORT OF THF, TRUSTEES (or the Year Ended 31 December 2024 STRUCTURE, GOVERNANCE ALW MANAGE￿￿[ Recrultm¢nt ind &ppointtllent of Dew trostees Most tnLStees [n￿be￿ of tr.e PCC) are eitber ex officio or are elected by tbE AJ)nual Parochial Church Meeting IAPCNg in a¢cordall¢e ￿￿1￿. the goi'ernillg docuTneDL {Chitrcb Repre5eDtation Rllies). SosDe others are co-opted for particiilar PUTPOSCS. New Tru51¢e5 r¢ceive an indu¢tson on thcir role and rcspoDsibilities from the Secretary of the PCC aDyr¢l¢v3nt documcttts and guidclines, in addition to agenerdl induction from th¢ Ch&Irr￿ duting th¢ first ￿￿eting ofth¢ year following eaeh APCM. ResponslbllltAes olthe P8ro£hl81 Church Council (rhe Trustees) The tru$te¢s are responsible for prepar￿g the TTUStees' Rep)rt 8nd the financial 5tateurnts in accordancc with applicable taw and United Kll￿d0￿ AcCoUrL￿ SLqndard8 (Unita KillgdO￿ GeDernlly Accepted Accounting Practiee). The law applied to ¢barities in En8[aE￿ and Wales require5 the trusters to p￿pare financial statements for each fiTKllGial year which give a true and fair Yiew of the stste of affairs of tbe charity and of the incoming resource5 atLd application of resources Df thc for that period. In prepariDts these fi￿a￿l￿] siatetnents, the twstees arE ttquir¢d to: - select suitable accowititig policies and t1￿ apply them cor￿18(¢￿￿￿, - obseN¢ ihe methods and principle5 in the c}￿itIeS SORP. - make judgements atLd estiTnates that are reasonable andprudeni. - Stale whether appliceble stsnd8rds have been fojowed. subject to atjy matcriat departures disclosed alkd e￿laIned in the fiDallcid statEllLtnts' - prepare the fiTwi¢ial staten￿nIS on the goill8 concern basis unless it ts itw)pfopTiate to presurlle that the ¢h8rity will continue in operation. The tnjstees are reypon5iblE fDr kecping a¢¢ounting records that disclose with reasonable accurdcy at ally tiTne the fiDancial ￿sItion of the charity at]d enable them to er￿ that tht f￿￿]Cial statell￿(s C4)rnply with tlle Charities Act 201 I, the Charity (Accoullts alld Reports) Regulatiolls 2008 alld deed. Tbey are 3]so reSpO￿lb1¢ for safeglwdmg the assets of the charity and h¢n¥e for tsking rtrdsojjable steps for the ptevtntiOD and det¢¢tion of fraud and other UTtgularities. The Trust¢¢s oversee and support the staff and the J)]embers of St m￿,8 Chutch ill their various ar￿￿ of ministy and are re5ponsibl¢ for ensurittg that a repra￿ttra￿s.e (usually the Chairllmll) rtports back to the Church members annually at thc APCNI aloTLg with other rnID]Str￿ leadets. This meetirtg also includ&8 election of new Tn￿te¢S and is open to all to attend. but only those llarn￿ 00 the Electoral Roll or Liking in the Parish mav vote in tbis n]atter. The Ant)ual Report of a¢iivity for the prev[0￿ 12 [non1￿ aTKL the FiEwKial Review is mad¢ available at tbi5 Tneetsng. Orgalli5atloNil gtructhre The Tn￿tteS met five times durin8 2024. itl athjitiou to tbe Annual Parothia] Church MeetiDg. Duriog these ￿￿etIngS tbey discussed and piay¢d itsto a knide variety of nN2tters includin8 governattce. policies. buildings, and staff as well as rEG¢iwng r¢gular re￿rtS on financial perfortnance aELd staffillg. Copies of the njinutes of t￿￿e ￿etting$ are kepi by thB Secretary lo the PCC at the Parish Centre a￿1 njay be read by an} of the Ele¢toral Roll uporlrequest. The PCC bas established a Standing Committee with d¢l¢gated powers to progress 1￿m$ in between PCC ir￿Cti1￿. The Stalldillg COJllTnitte¢ met three times dursng the year, with rninutes 5thllJitted to tlLe PCC. Tbe PCC also a￿ed to estsblish a ntunber of Subgro￿ responsible for p9rticul￿ issue& in the 8re&s of. - Buil(bngs (Co-chaircd bj PCC reps ADdy BaTrebxeT PCC aDd Matt Lallc8St¢r) - HR and Health and Safety (Cbatred bv Fi Lav¢ock) - Racia.: DiveTsily (Co-chaired b)" AELdJ Shelton aud Ebenv£erChinyati, Eben¢z¢r as PCC rep) - MissioJ)al Giving ICh&ired by Dav¢ Siokerwith Laura Sherry a5 PCC repl The buildings ¢ommitÈ¢ have worked tirelesxly tsn developing stsaiegic plans for tlie re￿0vatiOn of our 6ite. There a marly pinch poilli$ our bwlding that are re8ttiCtinE mit)isty obje£tive8. The age of the building, the disuse before v/e plant-(L th¢ space withill the bub are all i5SLiCS that they aTe fa¢itiE and providing solutioDS for. In 2024 they aimed to complete a llumber of proje¢¢s including small s¢ale reDovatioDs and accessibility, roof T¢pair& $bort hub renovations, and begin long temi redesign of the hub. Pag¢ 5 THE PAROCHL4L CHLTRCH COLJTr4CIL OF THE ECCLESIASTICAL PARtSH OF ST IIARK COVENTRY (ST MARK'S COVENTRY) REPORT OF THE TRLSTEES for the Year Ended31 December 2(124 STRUCTURE. GOVERNANCE ADID LIIAN.4GEMENT The Hli group have developed and advised on nun￿ouS sraffiDg and Hliprojects tbtvughout the year. The Racial Diyersity cornmittee have Tnet regularly to discuss bom" the church call be llKbre t￿p￿￿￿tive of the city and to challeng¢ the PCC on how we can produce a better envffironttKnt for all wple lo engage in church. They rarL a number of different events including All Nations S￿￿aY and'lees talk about rdce, evelltwhich was well attended. Missional Giving coEnmifee bave continued to develop ￿lt¢ria ¢m how to give IIP/o of our iticom¢ to chaTities. Most notably M'e have stopped suppi)rt to Open D￿rS and Conl to f8vour of supporting illdividual missioDar.es across tbe globe. Sharon Jones from Latin Link is the first recipieLrt in 2024, who develops tea¢hing moteri8Ls for thc local ¢hildren's ministrie5 in Peru. Prin¢ipAI rtsks And llncert*llldes The PCC is expDsed to risks &%so¢iatrd ￿1th rtDance, safegu8rdin8. legislative comp]iance. buildiD8S and infrgstwcthr¢, and pasiorai oversight. The PCC has sought to manage the risks ￿ foll(>ws'. . PerfoLirarLce agaSllSt budget is ￿e￿IeWed at e4ch PCC rneetiJg &ryd bel￿¢￿ llK¢tiDgs by the Treasurer #nd Standing Coinrnittee. A great proportion of our iwome corn￿. under GOQ from TrguI￿ fjllanciai donations from tn¢Lubers of d cottgregatlo￿ supplernellted by Gift Day5. - Th¢ PCC has a Safeguarding Policy and the TTU5tees apFoini & Stfeguarditig offic￿ acts a5 a focd point for concerns. All key staff and volunteers woiknttg witb Ctsiidren and ¥iJ]nerable &dults are recruited using Safer Recruitment prin¢iple8 attd are ¢he¢k¢d the Disclosure B￿ing SerTrice. Clergy receive regular Safeguarding traiDinB through the Dio¢ese of CovetLtry. - The PCC also A ff'orking Health and Safety Policy a Sjll health atjd review w8s conducted tovrnrds the elld of 2022. withresults alld recommendations pre5enLed to the PCC. - Our building5 aTr insured and We￿ inspected uuder a qLiDquellnial in winter 2020. The PCC delegatss 8Lithttrity lo the buildings subgroup to navigate knwto best implem¢nt the findittgs of the quinquenr.ia] and several other projects. Significant areas of ¢oll¢em renmtn - specifically the TDof al￿ high level nwonry- and the chuieh remaiThs on the l]eritAge at risk, ¢¢￿ster. - Pastoral Care 15 proTrided by clergy and lay oxrobers of the ¢hurclL Volunteets ¢arefolly sdecttd for keyroles sucb as prayer minisuy or leading SlJYLII Groupi. Tt8initLg is proKtidd for these volunreets alld they are sllpported and accountable to senior Gleigy. Our insurance includes p&storal care inde￿llity col'er for clergy and employees. Approyed by order of the boaid of ttu8te¢s on 17 March 2025 alld signed oll its beha]f by. P AtkinsDn- Tn￿tee Poge 6 INDKPLNDEE*ry EX￿￿1[￿ER's REPORT TO THE TRUSTEES OF THE PAROCHtAL CHLTRCH COLfiCIL OF THE ECCLESL4STICAL PARISH OF ST.TrLiRI4 COI'ENTRY (ST MARK'S". COVE)1 TRYJ Indep¢ndeDt examlner's report to the trustees of The Parothtsl Chllrcb Couneil of the Etdesla5tlcal Parish of St MarK Coventry (St Mark'5, CDveTh¢ry) I report to tbe charity trustees on my examillation of the a¢¢ounLS of The Pan)chi81 Church CDutt¢iI of the E¢cl¢$i8sticaL Parish of St Mark, Coienty (St hlth's. Coventy) (the TTh￿1) forthe yw ended 31 December 2024. Respollsiblliti￿ and basis of report A& the ¢harity tn￿te¢S of tb¢ Tr￿t you #re responsible for the pttp8Thlion of tbe aecounts in accordBn¢e with the Tequirejnents of the Cbariti¢8 Act 2011 (kn Ac¢). I report in respect of my examination of the Trusts acco￿ cauied out ullder Section 145 of the Act alld in ¢arrying out my exalllination I baye followed &ll applicable Dirertioos given by the Ch￿lty Commission Section 145(5)(b) of the Aci. IndEpelldertt examlner's statement Since YOUT ¢iwitls gros5 Lncome exceeded £250.OCKI yow exaLDiner must be a Dxrnber Df a listed body. l coJJfJrni that l qualified to undertak¢ the ¢xatnination because I am a member of the Institute of CtrLartered ￿co￿tallts iti Englatsd and Wales, which is one of the listed bodies. I have completed my exaJ)itiatsoL l tha'L no n￿le￿Ial tDatta5 have Con￿ to roy attention ill eoDnection M4th the eM))Ji￿tion gLvill8 tlle Cal￿e to I￿lle￿.t that ill maWial r¢spe¢t a￿u￿ting recoThb were not kept ill respect of the Tnjsi as required by Section 130 of tb¢ ACL or the &¢¢ouDts do noT 8ccord witb those records; or the ￿coUnts do not comply Trith the applirable Tequiymenrs CLwrning the form alld COllteDt of accoutjts set out in the Charities (AcCO￿tS and Reports) Re8u]atiOlls 2008 other than any rtqllirement that the accounts give 8 true and fair viewThthich 15 Iiot all￿tter con5idtr¢d as part of an indyendent exarninatioL I have concerns and have 8cro&s no other ￿tter8 in conlltttion witb the examination to M￿lCh attention should be iti this report in ord¢r to enable a proper ￿ders￿ndIng of the accounts to be re￿he& David Rog¢rs BA ACA Bernard Rogers & Co Batdc Gallcry Hi£h Street Kenilworth Warwickshire CV8 ILY Date.. Page 7 THE PAROCHtAL CHLTRCH COLT.NCIL OF THE ECCLESL4STICAL PARISH OF ST MARIi COVENTRY (sr MARK'S, COVEhTRY> STATLNILYf OF FLYANCIAL AcfiviTIES for the Year Elldfd31 De¢ewber 2024 2024 TotaL 2023 Total fjjnds Ullrestri¢ted Re8trict¢d Notes INCOME ENDOWMENTS FROM Dotiationsalld legaGies 350282 33.748 384,030 317,431 Churcb acti￿ltieS 13.464 4230 17,694 646 2.696 12,318 602 9,055 oth￿ incouje 2.696 Total 367.088 37,978 405.066 339,406 EXPENDrruRE ON Raising fi￿d8 1.078 1.078 1,275 Ch9ritable &ctiJities Charitable activities Other ¢ostr 308,502 8,900 56,020 io 364,522 8,910 327,632 8,832 Total 318.480 56,030 374.510 337,739 NET INCOME1(EXP￿71ITuRK) Trall5fer5 behYeeTh funds 48,608 (1.5(Ml) {18,052) 1.500 30,556 1.667 13 Net mov¢ment In funds 47.108 116,552) 30,556 I,667 RECONCILIATION OF FUNDS Total fimds brnug￿t forwdrd 218,914 58508 277,422 275,755 TOTAL Fuf4DS CARRIED FORWARD 41.956 277,422 The notes fOr￿part ofthE5¢ fillan¢￿1 stst¢m¢nts Page 8 THE PAROCHL4L CHIIRCH COLVliCIL OF THE ECCLLSIAST'ICAL pA￿S￿ or ST TrIAR COVETriTRY {ST MARK'S. COITTrffliY) BALLYCE SHEET 31 De¢ember 2024 2024 Tutal 2023 Total UJJrestricted fund Restricted Notes FIXED ￿SSETS Tangible a&8ets io 3,452 3,452 546 CURRENT ASSETS Debtors C&fh at bank 28.842 265.4?4 28.842 311,426 9,499 286,764 46,(Y)2 294.266 46.002 340,268 296,263 CREDITORS knounts f&Lling due Nrytbl￿ ont year 12 (31.696) (4.IM6) (35,742) (19.387) NET CURRENT ASSETS 262.570 41.956 304,526 276,876 TOTAL A￿ETs LESS CURRENT LL4BILITIES 266,022 41.956 307,978 277,422 NET ASSETS 266.022 41,956 3(fi,97E 277.422 FUNDS Unrestricted funds Restsicted fimds 13 266.022 41.956 218,914 58,508 TOTAL FLTNDS 307,978 277,422 Tbe finallcial state￿￿llts were approved by the Board of Ttusters aDd thotised for issue on 17 March 2025 and were siglltd on its behalf by.. NH4 N Hodges-TLILStee The rthe5 fortn part of tlKse financial Stat¢ll￿nts Page 9 THE PAROCHIAL CHURCH COUNaL OF TH ECCLESIASTICAL PARISH OF ST MAR COVENTRY (sr MARK'S, COVEDITRY) riOTES TO FLYkYCIAL STATEME.N]S for the Year Ended 31 Decellthr 2024 ACCOUNTING POLICIFS Basls of preparinE the fitLallual statemEnts SL Mark's Coventy is an unincoJp)rat¢d cbarity operating in Englalld. The church's address is given in the R¢fer¢nce aEd Administrative details ollpage 2 and the Datyre of the clwity5 OPaHtiOll5 aTLd principal activitie3 are giyen in the Trustees, AntLual Ryrt. The finaneial State￿¢￿15 of the cbarity. vkni¢h is a publie benefit entity under FRS 102, h&Ye been prepared i ac¢ordan¢e with the Ch￿ltieS SOIIP IFRS 102) 'ActOJDiing wl Reporting by Cbariti&s'. Statement of Re¢ommended Practice applicable to charities prewdfiEg accounts ill accordance with the FillaDcial R¢porting Slamdard applicable ill the and Republic of treland (FRS 102} {¢ffective l ja￿Uary 20191,, Finan¢ial Reporting Standard 102 The Financial ReportiDg Standard applicable in the UK alld R￿UbliC of Irelalld, and the C￿ltieS Act 2011. The finattcial statements Are prepaffd oll a going concern basis w.d￿ the btstorical cost convention, modified to includ¢ Certaio items at fair value. The fuJatt¢ial staomeDLS are presented in 5terliDg ￿'bICh is the fullctional currency of the Gbarity alld rounded kn the nearG%t £1. The fiDancid statements iDcILde all transactio￿5. assets a￿d Iiabililles for whsclL the PCC is resw>nsible in Law. They dD TIDt inGlud¢ th¢ a¢¢oullts tsf church grow tbat owe thtir main affijiau'on to artother bi>dy nor those that are infomal 8atheriDgs of church llKmber& The significaut accounting po]icies applied in the preparation of the5¢ fthancithl sttt¢ments are set b¢low. Th¢se policies have been Consistently applied to all years presented unless oth¢rwise stated. AJI iu¢oming resources ar¢ included iD the statrneni of financial aCti￿lle5 when tbe chariry is entitled to the Incon￿ and the amount be quantified witil reasonable accutaty. No 8Jnount is included in th¢ financial statements for volunt¢eT ¢im¢ in lithe with the SORP (FRS IO* Volunta income and ¢ ital sources collccti01￿ are recognised when received by or on behalf of the PCC. Planlled givitig rec¢ivabl¢ under Gift Aid IS T¢¢ogttised ooly wheD re¢eive(L Ill￿rne t&x recoverable on Gift Aid donatio￿% is recognised the i5 received Grdnts and Itgacies to the PCC are accounled for &8 swn as the PCC is noiifie(i of its legal entitlemeDL the @mount du¢ is quantifiable and tts ultimaK wetptby the PCC is re￿￿&b]Y ctrtai IttcDme from inTrestments Interest ¢ntitlellKnts ale acCO￿ted for as they u￿rue. recoverable on such irwjne is recO￿lSed in tbe same accounting year. GoYemmBllt ants coverr￿llent grants are recosnised under tbe Perforn)aThce Model at Ét* flir I￿U£ of tbe a55tl re¢eiYed or receivable there ts reasonable &&surance that tlL¢ grani ronditioms ￿111 be met and the gr￿ts will be received. A grattt that spe¢ifJes p¢rformaNK ¢onditions is recognised in income Iwhen the PerfOrllw￿e conditiOThS Are met Where a grant doe5 not specify perfDrn￿￿ce conditions it is tecogtJised in in¢ome when the proceeds are r¢¢¢iv¢d or Te¢¢ivable. A grant re¢eivcd before the reCo￿l￿on eriteria are satisfied is recogllised as a liability. Other ineorne Rental ittcome from the letling ofchurch pren)ises És accounted for wlKn G￿ne￿. PaTocbial fees due to the PCC forweddin8s. fi￿CIal5 etc. Are accouEtted for on an ev¢nt-by-¢vent b&si$. Page 10 continucd... THE PAROCLIL4L CHI'RCH COLryCIt. OF THE ECCLESL4S"ficAL PARISH OF.￿ MARK COVLYTrY (ST MARK'S. COVENfRY) NOTES TO THE FIDiAf4CIAL ST.4TEMENtS- CODtinued for the Year Ended 31 De5t-retirell*tti beuefjis is the cotttribution5 payable in the ye8r. Differences between eontributiODS pa￿ble in the yeor atjd colltrib￿tl0llS actuallypaid are sbown &s either debtors Dr crfyth'tors in tbe balance sheet. TanEible fixed assets Tangible fLxed ￿ets aTe 5ts*d at C05t (or deenKd cost) or valuation less atcumulat¢d depreoiation and accutniilatrd irnpaimi¥nt losses. Cost in¢lud¢s ¢05ts direcdy athibutable ￿ nwking the asset capable of operating as Int¢t￿ed. Cowated ro alld TnoTr'eable church fiirtii Consecrated and belleficed property is excluded from the aecowjts byprovi5ion 1012) of the Charities Aet 2011. ui Men Ytures and fittin and O￿lee n￿nt Equipmeni ommed by the PCC is dcprtciated ott a stsaigh¢-litie b8$is over their cstillLated usem liv¢s (betwe¢n 3 and IQ years). The charity is exempt from tax on its ¢haritable activities. Fund accountiDg UnrEStriGt¢d funds are available for use at the discretiim of the trustees in fjrtherance of th6 general objectives of the charity andThthiclL have not been designated foi oth¢rpwses. Restr5Ct¢d F￿d8 represent donatiots or grants receiv&1 for a 3p¢¢ifj¢ object or i￿%￿ted by the PCC for a Bpecific Obj￿1. The fimds may only b¢ expended on the specific objECt for whith they Trere givett. Any balance remaining vThsp¢rAt at the end of each Ye￿ must be ¢aTried fonward as a balance on that Nn(L Further eXpla￿atIon Lif th¢ llature alld purpose Of ea¢b fimd is included in the note5 to the fina￿cial ststejrkents. Donated ser*4ces and facilities No amount 15 included LD the financial stst¢tM)ts for YoluDteer time ID line with the SORP IFRS 1021. The role of the Trol￿te¢rS is to suptx>rt the work of St Marvs aThl the associated Djinistries iti a practical rather than fjJJaThcial capacity. Debtors and creditors reteiv#ble/p#y*blt 0￿¢ vear Debtors and creditor5 Wktii rto staled I￿l¢re$l rate a[￿ receivable or payable within olle yeaT are recotded at trallsaction pnce. Atsy losses arising frotll irtJpairnKnt are recognised in expenditwe. Page 11 CODlinued... THE PAROCHL4L CHLRCH COLI4CIL OF THE ECCLESIASTICAL PARISH OF ST ILIR COVE)L TRY (ST MARK'& COVE)TRY) NOTES TO THE FIN￿￿,CL4L STAT"EIILNTS- coLtiDued for the Year Ended 31 Detember 2024 DONATIof*S LEGACIES 2024 2023 R¢gular donations One-off donatiOI]S GIP. asd recovered Grants rettiyed 273 ?30 27,678 58.110 25.012 196,709 45,401 41.486 33,835 384,030 317,431 Grallts received included in d)e above. &Te as follows: 2024 2023 Coventy Diocese Church Rtvitaii5ation Trust 25,012 33,035 800 25,012 33,835 CHURCH ACTivrrJES 2024 2023 Events Weddings Acadetny Alpha 12230 1,084 4.230 150 2,675 576 17,694 12,318 INVESTMELYT ll¥COME 2024 2023 Deposit account interest 646 602 Fage 12 ¢Olltit]ued... THE PAROCHI.4L CHL'RCH COL'.YCIL OF ECCLESIASTIC.4L PARISII Ok" s"r JIARK COVENTRY (ST ￿￿tRieS. COVENTRV) f40TES TO THE F￿*￿tIcL*L STATE.MENfs- ¢olltlnll¢d for the YeHr Ended 31 Detember 2024 CIL4RrrABLE ACTivrrtES COSTS Support costs (see note 6) Co¢ Totals Charit&ble actiTrities (hber costs 98,581 265,941 8.910 364,522 8,910 98.581 274,85l 373.432 SUPPORT COS]3 costs Totals Clwit&ble activities Othw costs 265,941 265,941 8,910 8,910 265,941 8.910 274.851 TRETSTEES. REMUL¥ERATION BEN&Frrs There were no tnL8tees' rernunerntion or Ot1￿ b¢vefjts for the year ended 31 DecenLber 2024 nor for the yt ellded 31 December 2023. Trllstees, expenses Th¢r¢ were no tr￿￿te£s, ¢xp¢ns¢s paid for the year ended 31 Dettmber 2024 nor for the ye*r ended 31 Decemb¢r 2023. STAFF COSTS 2024 2023 Saluies EmployeHs NI Pellsion eolltributions stsff expeJJses Recruittnent Costs 137.638 6,072 4.111 6,073 220 101,012 2,102 2,723 6.946 310 154,114 113,093 The average n￿nthlY numbEr of cmployees dwingthe year as follows.. 2024 2023 Staff No etnployees received ¢molum¢nts exc￿ of £60.000. Page 13 continued... THK PAROCHtAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF ST )I￿R COVENfRY (ST TrLIAIX'S C0VL￿Ry) NOTES TO THF. Ff*AICI.IL STATEMEhTS- ¢oDtinu¢d for the Year Ended 31 De¢fJNber 2024 COMPARATIVES FOR TIIE STATEMEIIT OF FINANCIAL ACrnTfiES UJJre8trictal Restricted fi]nd fimds Total tNCOME AND ENDOWMENfs FROM Dollations and legacies 255,848 61,583 317,431 9.548 602 9.055 2,770 12,318 602 9,055 lfftvestmellt iD¢ome Otlw income Tot41 275,053 64,353 339,406 LXPENDITURE O Raising fuuds 1275 1275 ChArltAble activitiei Charitable activities Other costs 290,373 8,823 37259 327.632 8,832 Total 300,471 37268 337,739 NfT tNCO%(EIIEXPENDrruRE) (25,418) {i.927) 27.085 5,927 1,667 TTansfers betsyeen fuDds Net movernent in fllnd5 (31.345) 33,012 1,667 RECONCILIATION OF FUNDS "Iotal fund5 broughr forward 250259 25,496 275.755 TOTAL FUFIDS CARIUED FORITr ARD 218,914 58,508 277,422 Page 14 colltiLU¢d... THE PAROCHtAL CHLqiCH COLTryCtL OF THK ECCLESIASTICAL PARISH OF ST MAR COVEkYfRY (sr MARK'S, COVLNTRY) NOTES TO THE Fif*Af4CiAL STATE.MENTS- Co￿thI￿¢d for tht Y¢8r Ended 31 Decejnber 2024 10. TANGIBLE FIXED ￿sSETs Kitchen cquiptDent Productio ¢quipmErtt Office ¢quwment Totais COST At l Jallugry 2024 Additions 37.778 97,957 135.735 3240 3.240 At 31 December 2024 37,n8 1,957 3.240 138,975 DEPRECIATION At l January 2024 Cltsrge for year 37,778 97,411 131 135.189 334 203 At 31 December 2024 37.778 97542 203 135,523 NET BOOK VALUE At 31 Decellther 2024 415 3,037 3.452 At 31 DecembeT 2023 546 11. DEBTORS: AMouFrrs FALLLYG DUE FITfEui* ONE YEAR 2024 2023 Trade debtors Other debtors Accrued incon Prepa￿llents 4,500 1.036 23,118 188 3,508 665 5,011 315 28,842 9.499 12. cRED￿ORS. AMOUYL TS FALLIf*G DUE WITHIN ONE YEAR 2024 2023 Trade Creditors T&xation and social security Other ¢r¢dilors 7,275 1,658 26.809 5,182 2.794 35,742 19,387 Page 15 continued... TUE PAROCBL4L CHLqiCH COIryCIL OF THE EcCLE5L￿[cAL P￿B￿SH OF ST MAR coi&YniY (ST MARK'& COVENTRY) NOTES TO THE FIfiAf*CIAL ST.4TEMEprrs- continued for the Year Ended 31 D¢¢tmber 2024 13. MOTrIMENf Il¥ Fttws Net Transfers bemeen At 31.12.24 At 1.1.24 io fiEnds Unrestrl¢ted funds Qenerai fi￿d 218.914 48,608 (1.51)0) 266,022 Restrl¢ted ￿lld$ Academy Focus LA)ve Chri5ttllas Youth Worker Te&ms' Retreat Focus Butsary Fund Student Ministy 13,304 1,200 8,803 (l.fA2) (194) (26,023) (3fA) 138 1,230 22,107 500 942 194 17,981 364 138 1,230 58.508 (18,052) 1,500 41.956 277,42? 30.£56 307,978 Net moven¢nt in funds. iticluded in the above are as follows.. Incoming Resoutces expended hlovement fi]nds L'llrestrlded funds Gelleral fimd 367,088 {318,480) 48,608 Restrleted funds Academy Focus Love Chrsstm& Youth ￿orker Teams, Retreat Foc￿% BursaryFut Student Mini8ty Youth Ministry 28,185 (19.382) (1.642) (6,5421 (26.023} (1,534) (787) 8,803 {1,642) (194) {26,023} 1364) 138 1,230 6J48 1,170 925 1.230 l20 (120) 37,978 {56.030) (18,052) TOTAL FUNDS 405,066 (374.510) 30.556 Page 16 ntillued... THE PAROCUL4L cHL￿cH COLryCIL OF THE CCLESIASTICAL PABJSH OF ST I¥IAR COVENfRY (ST MAKK'& COITNTRY) NOTES TO THE FlTriAIICIAL STATEIIENTS- collthiued for tbe Year Ended 31 December 2024 13, MOVEMENT IN Fuf¥DS- eonthiued Comparative8 for movement ID fu￿d5 Net jn0v￿-nt in fimds Transfe ten At 31.12,23 Atl.l.23 Ullrestrkted fNn Gentral fulld 250.259 (25,418) (5,927) 218.914 Restrlcted funds Loye Your NeighboLtr Acadetny Fouls Love Christill&S Ro$ Williams Leaving Gift Youth Worker Teall)s' Retreat 91 24205 12¢)0 (91) 12,194 (23,095) I3,304 l200 (351) (100) 15,729 (296) 351 100 28,275 296 25,496 27,085 5,927 58,508 TOTAL FUTr4DS 275.755 1,667 277,422 CoDJparative net mOVBDKnt in included in the aEK)ve are as follows: Incoming resources Re501]rces eXpe￿ded Movement in fullds UMrestricteV¢ Christh1&8 Ros Williarns l£avin8 Gift Youth Worker Tea￿, Retreat Focus BuT5ary Futld Student Ministry Youth Milli5try (91) {41.7981 {1,6421 {1? 1801 {4001 (33,3501 (2.930) (787) (91) 20,997 (1.642) (545) (1001 (10,2941 (6601 138 1,230 62,795 11.635 300 23,056 2,270 925 1230 120 (120) 102,331 (93298) 9,033 TOTAL FUNDS 744,47? (712,249) 32,223 Page 18 rontinu¢d... THE PAROCHIAL CHURCH COI.NCIL OF THE ECCLESL4STICAL P.4RISH OF ST.IIAR COVENTRY (ST MARK'S COVENTRY) IYOTES TO THE FDIknNCL4L STATENIENfs- ¢ontinu¢d for the Ye*r Ellded 31 Decellther 2024 14. RELATED PARTYDISCLOSURES During the year doDations of£42.404 (2023.. £35,865) wert rtteiyed￿￿thOut cimditions from the Truste Th¢ ¢hariiy madc no other tra￿SaCtionS with r¢loted parties. Is. Specific fi￿d5 are donation5 and other r￿DieS r¢ceiYed for a specified pwpose, as folloNE". A¢aderny Graut fmnditjg from the CoveDty Diocese to cover the ¢05ts of the St MarEs ACade￿Y to pTh)Tride training and support on behalf Df tbc LKese. Focug The HTB Focus Festival is our aDDwal annud week aw&y other churchcs in our networL Love ChrlstJDa$ Love Cbristiw is a national catnpaign to give of kindn¢ss to those who *ouLdnl receive all)tbillg ar Cbristtnas time, workng in parttLEf5hip witb two ¢h8rtties'. Embr￿ and Ca￿le[S of Hope, Youth Work¢r A youth fundr2ised for early tn 2023 appointed i ptetnber in order to suptK>rt our 8rowing louth miJisty. To8ms' Retreat A vohntsers retre8t d8y SUPPOrt(xi by fUE￿ing fromthe Diocese. Focus B￿r$ary Ell￿d A fund set up to support those who strllggle finallciaiiy to come to the Focus sumw festiYaL Student Ministry For illv¢stowJt iDto stsff and operational costs to reach to in our city. Youth MI]￿try For investJn¢nt into staff aDd operational c08ts of ruDning th¢ Youth Ministy. Page 19 THE PAROCHIAL CHURCH COI.NCIL OF THE ECCLESL4STICAL PARtSH OF ST MAR COVEP4TRY (Sf MARK'& COVEYIRY) DETAILED STATEL¥IENT OF FLNL*CLIL AcfiviTILg for tht Y￿￿ Ended 31 D¢¢embeT 2024 2024 2023 INCOME AND Ef4DOWMEEirs Donations and legaeles Regular donations One-off donation5 Gift aid T¢¢over¢d Grants r¢¢¢iY¢d 273,230 27.678 58,110 25,012 196,709 45,401 41,486 33,835 384,030 317,431 Chvrch icdTrltles Events Wedding5 A¢adtmy Alpha 12,230 1.084 4,230 150 8,023 2,675 576 17.694 12.318 InveStn￿￿t income Deposit aGGoullt int¢rnst 646 602 Other Incojne Hire of rooms Music royaltics Other 2.638 io 48 8.689 17 349 2,096 9,055 Tot￿ ineomlng resourets 405.066 339,406 EXPENDJTURE Ralsing dDllAdoDS and legacfies RaiSi￿g fimds 1.078 1275 Chirlt#ble a¢tfivltks Sunday G&theriDg Minsstri65 Outreach Eveiits IA)ve christr￿Ve Your Neighbour Academy 6,420 20,543 46,360 11,659 6,542 7.057 6.403 24,900 54,250 9,685 5,729 4,959 98,581 105,926 This page does noi fornipart of the stathtory fil￿nci&l Stat¢￿e￿ts Page 20 THE PAROCHtAL CHLIiCH COiINCIL OF THE ECCLESIASTICAL PAIUSM OF ST IIARK COVEfffliY {ST MARK'4 COVEtY I'KY) DETAlllD STATEMF.IT OF FPIANCIAL ACTivrriES for the Ye•r End¢d 31 December 2024 2024 2023 Support cg8t$ Management Staff Costs Parish share Volunteer exp¢￿$ Clcrgi, costs Operations Facilities utilities Pmductiott Major works Depreciation of production cquipment D¢preciation of office equuTrment 154.114 66,000 I,782 852 5.847 13,765 10.326 671 12.250 113,093 63.000 1,958 2260 6,089 11,502 11,260 693 11,742 109 203 265,941 221,706 Coveruanee costs Indepelld¢nt examin&s re￿UneratiOtt Finallce alld administratiou costs Legal ft 2,160 2.584 4,166 2,280 2,386 4,166 8,910 8,832 Total resources exp¢nded 374,510 337,739 L4Set lllcome 30.556 1,667 This page does not fo￿ part ofthe stabrtory fi￿alle￿I stst¢m¢nts Page 21