The Parochial Church Council of the Ecclesiastical Parish of Penrith Reg18tratlon number: 1187270 Annual Report and Financial Statements 31 December 2023 dOdd&co The Parochial Chureh Councll of the E¢¢lg$lastlcal Parlsh of Penrllh Contents Trust885' report Trustees. responsibilitlg5 Independent examlne¢8 report Slatoment of financial activit￿$ 12 13 14 Balanc& sha&t 15 Notes lo the fin8ncial stateTngnts 16 The Parochlal Church Councll of the Ec¢l•slastl¢al Parlsh of Penrfth TrustwJ' Roport for thg Ygar End8d 31 DeCeM￿r 2023 Th8 financial slat8mgnt5 have been prepareil in ￿L1rdance with the ac¢ountir¥ poliies set out in notes to the accounts and comply wilh the charitys gov6ming document, the Charities Act 2011 and Accounting and ReportirvJ by Charities.. Statement of R￿0￿M9nded Practice applicable to charities preparing th￿r accounts In accoTdanca with tha Financlal Reporting Stsndard applicabl8 in the UK and Republic of I￿land. $￿tIOn 1- Alm and Purpose 1. The Parish of P8nrilh was formed on l June 2019 when the fomier p8ri8hes of P8nrith St Andrew's and Penrilh Christ Church merged. Thi3 m8rger brO￿t tog8thor th8 r8sp8ctive parochial church councils IPCCI into a singb body of trust88s for the new parish. 2. In a¢¢ortlan¢e with the PCC Powers M8asvr8 1956. ttte Parish of Penrith PCC has the r83ponsibilty of )op8rating wtth the incumbenl, Rev Canon David Sargent. in piomoting ecde5iastic81 parfsh and thg whd• mission of the Churth, pastoral, evangeli%tlc. soual and eoJmeni¢al. Ttte PCC airns for the parish to be 8n open. worshipping, Caring. wlines5ing and 5er¥ing Chri5tK4n comrnunity in which everyone ¢an find 8 place to explore life and discover fath in Jesus. 3. In support of promoting 'Christ in the h88rt of Penrith., the PCC is responslblo for the malntenance of the parlsh s two churches, St Andrew's, in the town centre of Penrith. and Christ Church. on the town'3 northem outskirts. Soctlon 2- Objeetlv•s and Actt¥Stles 4. The parish trustees a￿ aware of the Charity Commi98ion'$ guldance or¥ publlc benefil las o)ntalned Sn 'The Advanc9mgnt of Reli9ion for Ihe PU￿1¢ Beneffl'l and have had regard to It in 8X8CUting their 2023 busines5. Th8 PCC maintains an ovetview of worship throughout the parish, discussing. developing 8nd d8ciding on suggestions and ideas about how sarvices and acti¥￿e5 ￿Uld be evolved to better engage and support those Ihal live within the parlsh. Our seNices and activities put failh into practica through prayer and seripture. mLL8Ic and sacrament, pastoral Ca￿ and comrnunty impad in a wide variety of expres5ion8. W0￿1ng closaty with partner churches through Church9s Together in Penwith ICTIPI. S. The PCC is cotnrnitted to eng￿1ng as many people as possib￿ to worsh￿) 8t Ih8 parish'5 (wo L*)urches and to be part of the Parish of Penrith community,. PCC does this ty.. . Prowding 18cllitles lor puNlc wor3hlp, pastoral care and SI￿r[lua1, rnoral An¢J intelleciual developmant, for both regular parishioners and anyona èlse who vmshes to benefit what the Chureh offers, and; b. Promottng Christian values. and servic88 by rnernbers ofthe Church in and to their cornmun￿es, to the bengfit of individuals and society as a whole. 6. To faellitate thls wod(, tt Is importanl that W8 maint2in Ihe fabric of tx)th St Andrew8 and Christ Church. 7. The output necessary to m8etth8S8 objectives is generated through 8 wmbination of effDrtlrom a small gTOUP of p8id staff and a very large group of vcAunte8rs. M8mbars ol the ¢ongregats"on aded in various v￿unteEr capacities ihrou9hout 2023, including as seNer3. siéespersons, choristers, bell ringers. providers of prayer rnlnlstry. chiklren and familieg mlnistry supporters. pasloral c8rgr$, flower arrangers, sound and livestreaming te¢hnici8ns. webm8St8rs, magaane editors. silver and brass ejea￿r5 and memb8rs ol the PCC and its suLy)rdinat6 committ88slgroup5. Sèction 3- Achl•v•m•nts and Perfomiancg Overvl8W 8. 2023 was another year on from the dlfficull dkys ol the pandemic. As the year pwressed rt felt like parish lrfe had setued back into a steady state that was recognisably prè-COVID. While. by d8finition. out-of-the-nom themselv85, the St AF￿r&W.9 tercentenary ￿lebratIonS (which ran from Spring 2022 to Spnng 2023 and wor• a rlynami¢ mix of S￿al and liturglcal eventsl. did much to re4ement the parish back into no￿85 life. Page 1 Th• Parochlal Chur¢h Coun¢il of the Ecelesiastlcal Parlsh of Penrfth Trustees. Report for th• Yoar Endod 31 Docamber 2023 Worship & Praygr 9. During the year, the ordainedni¢enced ministry t&am csmprfsed.. Rav canL￿ David Sargent Rev Mary Edw&rd$, Rev Andrvw Gardner, Rev Beth Honey. Mts Juli8 8afrett and Mr Hugh Ellison. The Penwith Team Ministry was parbcularty well supported by retired ministers and diocgsan ministers living localty - Rev Cam$ron Buyand, Rev Peter Clgment, Rev Paul Dunthome and Rev Mike Houston, Rev Julia PowAey and the Vènerat4è Chrrb Sims. Our ryganisls wore.. Ihr Colln Marston Iprimorily Sl Andrew'sl Mr Phllip 8911 Iprirnarily Chri5l Church). 10. Th8 p8tsh crmtinued its broad provisbn of pU￿￿C worship and prayer, both through lace-to-f8c* serwicès at ils two churches and dbit81 tachnology. Sl Andrew's is open ev8ry day for prfvate prayer and is used by many people as 8 place of quiet fffl8clion. The opportunity to light eandlgs, 51t quielty or browse resourc8s exploring faijh is an important P8rt 01 our ￿¥n-COntrO presence. Christ Church Is O￿n whgn booked for services or other prwlarnad u8a98. 11. Our rouknne worship pattem at our churthes during 2023 has been.. Event Roma {a Sunday (b) 8.00 am 10.00 am 10.30 am 8.00 pm 8.30 am Id) Chrlst Church st Anrjrews Christ Ghurch St Andrew's (a) Holy Commuftlon Holy Communlon See Table 2 Evensong (1st Sjnday) Momlng Prayer Moffling Prayer BCP Communlc M￿nIng Prayer Celllc Communlon Tea SeNlce Summer monlhs only Monday Tl￿sdaY st AntheW8 8.30 am 9.30 am st Andrew's Sl Andrew's Wednesday 8.30 am 12.30 pm 2.30 wi st Andrews Sl Andrews Friday Tab19 1- Routin8 Schedule for Wor3hip 12. The Tugsd8y. WÈdnesd8y aThJ Friday sorvlces continue to pmiide important opsx)rtunits$ lorwornhip for those who are unable to attend on Sunday momlngs. As a le$$ formal opportunlty for mKlThweek worshlp and prdi%e, the paiish offers a'Fllling Station, m99ting each month at 8 pm in a local cafè. 13. Ou¥ MwJ-mo￿ng Sunday services al Christ Churth We￿ a ￿M18nent.ev￿ wegk, offerlng, as shown in TablB 2.. Christ Church Sunday of the Month Tlmg Servke (a} 1¥ Sunoay Vlorshlp Togethe Surmlay Momlng Pralse l Holy Communlon (Alternate Months} Sunday 'W￿ShIP Togethe 4th Sunday EcumeniGal Servi￿ in the tradltion of the Unlted RefomEd Church Table 2- Mid-moming Sunday SeM(e Model al Christ Church {b) 10.30 am 10.30 am 10.30am 10.30 am Pgge 2 The Parochial Church Council of thg E¢closla$llul Parl$h of P•nrith Trusteo$' Roport tort￿ Year Ended 31 Decembèr 2023 14. live4tre8ming of Sunday an(J weekday services from St Andrevls and the uploadlng of seNiee recordin95 onto the parish webslte have eaL* contlnued lo help make worship ac¢es8ible to thos8 un8￿8 to be present in the church buildings. The continued use of a d8dicatetJ What5App group frjr moming and èvenlng PTayer. IE(S by different members of our ministy team, has similarfy helped to bring the parfsh logelher irr85pective of physic81 locat￿. These digital options were, and ￿maIn. open to al and 50 have off8red an important service lo ts wider community- 15. While daily prayers (via Wh8tsApp or through our websilel and our monthly prAyer dlary IpublSshed In the parish magazine) provsded a routsntr praytrr fiamgwork, the Parish Prayer Cirde has continued to offer more personaly foc#Jsed prayer support to P8rishioners in response to speclfic events and 0ndl￿dual experfences. 16. At St Andrews, the choir, led for40+ years by organist Mr Cofrn Marston, continu8S to play 8 Major part in Sunday worship. At Christ Church, Mr Philip Bell has continued to be centre stsge in all r8spec¢s regarding organ matters. Mr Bill Wright (￿th others) leads the'muslcgroup. aspects ol worship on th8 1st and 3rd Sundays at Christ Churth 8s part of'worship Togelherf seNices. 17. The Penrith Bell Ringers have conb'nued to provKltr • much-valued eall to worshlp every Sunday moming- V* 8Te here. we aro open, please coma. is rung out skilfully and frequenlly- 2nd at other Significant moments in the year and in our natK)nal public life. Our bell ringers helped us celebrate His M8jesty'8 (xjronation in May. 18. Throughout 2023. wo have tried to provid8 8 bal8nc8 of childrèn-focused worshlp activibes bo￿90￿ our churches on Sundays. The primary focus for engaging chsldren and th8ir fanNli8s has been our 10.30 am 'Worshtp Togetherf 8ery*¢e at Christ Church11st arKI 3rd Sundays ol the mcwthl., addltionally. we routingly offer a Sunday School experience f¢T y¢xJng Childrén in 8 bregk-out space at the bad( of St Andr8Ws during th8 10.00 m s&rvic*. Pastoral Care 19. Rev Andrew Gafdner has continued ¢0 lead our p85toral Ixrè minlstry fort￿ thurch family and wider community. This included home vLslts and ujrnmunion at homg. Ph￿8 calls and dCx)r￿ttsp m•8tings #r• a150 important asp8cts of this Work. 20. The drfferent nelworks within Ihg church and ecumenical wrnmunity rfuasday Club, Mothers. Unlon, Knit & Natter, Bell Ringèrs, Choir, Church Gardgnèrs, Bitsle Study. Home Groups. Tea Service. RESTORE, and various Children & Families Ministy groupsl havè 6ach C4)ntlnued to play thelr own part in providin9 a piece of the parlsh-wlde safety net thal helps ensure parishiowr wo11-bging. 21. The parish's rnonthty magazi￿, The Beacon, continues lo play 8n irnportant in gnsurfng that parishionEIs can remain abreast of matt8rs on a routwie basis. The Beaccpn's editorial team produced its sche¢Juled 10 i$sue5 ovèr th8 2023 calèndar year. whi￿ hard¢opie$ arts a￿ayS available, Consumption remains predomInan￿Y digilal, eth8r'pushed' wa the parish's email distribution Irat or'wllgd. by individual readers from the parish webslte. 22. The digitsl ￿aff0m7 provided by the parish website eontinues to b8 a vlta1 I￿k for parishion8rs. d81iv8ring 'ong-8tOP-shop' lor padsh infomation, accéssible to all thos8 With on-lina connecllvity whether regular parishion8rs. parish vtsitors or members of th6 wld&r ccmmunlty. This Is complemonta(I by a FaceBook presot)c io help capture a ￿der audience. M188lon & Evangèllsm 23. The parish continu8d it8 lknk of many years With the Church Mission Society ICMSI. supporting the S￿iety'S ovetseas mission work both finanually and through prayer. Durirbg 2023, thè partsh continued ts partnetship arr8￿Jemenls wlth a CMS mission WQTk9r whose focus Is on Chrfstlan advowy in thg Middle Easl. 24. The parish h8$ wntinuwl to actively suptx)rt the work of Ihe sa￿atiOn Amiy Food Bank. Christians Against Povety Debt Advi￿ Centre, Llnklng LNes. Christian Aid, tho Bishop of Catlisle's annual Harvest for Ihe Hungry Appeal. IGNITE P8nrith (the local youth ministry, to which the parish provided key support in the Period follo￿ng th8 sudden death ofthg IGNITE Igad. Mr Cart Mimmackl and th8 RESTORE projects in th8 town. As in previous yaars. a variety ol other ontroff appeals have been well supported by'reknring cdlections,. Paga 3 Th• Parochlal Church Council of the Eccleslastlcal Partsh of Ponrlth Trusteeg. Report ftylhe Yoar Endod 31 Docember 2023 25. The Chlldren & Famllies blinisty ICFMI Team Is p8thularly tr￿LIs•d on outreach to lamilies young child￿n. We lry to ensure that a memberof the team attends eath of ouf baptisms. ading as a link into th8 wider chlld-focused aGtivilie$ withln th8 parlsh sh¢wld parents wish to explorg further. Witti the ex￿ptI￿ of Sunday$, the rninlsty is routindy based al Christ Church, vAth Tuesday Ladybabes (for parents wth U151 and Ladybirds (for pargnts with toddlers) ond regular'pop-up. even15. These aclivities have pro¥Kled a child-frièndly next st6p forthose famili98 whose recent contact with the church has been vl8 a child's bapb'sm or via th8 CFM Team's wort< in Ir￿1 schools, especialty Beaconside Chureh ol England Primary School. but a180 Wth an ong￿ll9 presence and Involvemènt at Hunter Hal 8n¢J BrUnSw￿k Ro8d schools. 26. Our CFM Team 18ader. Mrs Chenda Nutsll retir8d in August 2023. It proved chell8ThJing to Tecruit a suc￿$80r. A recruiti￿ campaign laun¢hed in Spn'ng 2023 was not frurtful we dosed Ihe calendar year with Ihis key appointrnent still vacant. Our CFM volunteer staff hav8 WOrt(ed valianuy to maintsln our mull'plg OUtpuL8 in this vital outreach area. 85pe¢ially vAth Ladybirds and Ladybabgs. 27. BINe SludylHom8 Groups eL)ntinued durfw tr* year. 28. Durfng 2023 we havè continued to focus on the importance of ensurlng that Ihere is 8 genuine ￿lCOme fr)r 811 at publK worship. This and wam embrace and the range ofwor8hip S￿￿$ and approaches that arè on offer enables pgople io encounter the church communty and explore failh al IhÈir own pace and wilhout pressure. wlth people gener81ty feeling that Ihey'belong, bèfore th8y m•Jht express o o)mTnitmentto'belief. 29. The'congregalional feedback, {gathÈrèJ in18te 20221 has led the PCC into placing more fooJs on thè dgvelopment tsf missioTI, outreath and wor¥hip IMOWI, with a dodsion tsk8n in 2023 to establish a MOW Committe8 that woukl take forward, on PCC'S behaLI, the detai￿d work that Is neoded to m8k8 such development a reality. PCC is currenuy wothing to codify the operating remit of thls group, w￿h MOW Vlslon and Strategy ￿uS Temis of Reference for the MOW Committee belng developed bef￿ r8cruitsmenl of ind￿kI￿aTr$ to the role t8k8S F4ace. School Engagement 30. Th8 PCC is Committ￿ to ts formal links to Beaconside Church of En918nd Primary S(1￿1 in Penrith. To botter understsnd the PCC'S School4￿ated re¥ponsibJllU8S. the IfU$t6es invlt8d the schools, senior leadership learn (SLTI. Mr Nlck Page {Executiv& Head) and Mr Darren Gtyn (He￿ ol Sch(KJl), to pr8sent at a PCC meeting in earfy 2923. 31. During 2023. Mrs Judith Markey conunued as Chair of GovemDf5 and Rgv Dwid, Miss Clare Ma¥k8y Isafeguardingl and Mr Andr9w (Paddy) Winton Ihe81tt) and safety) continued as Foundation Govemors. Mr Phillip Lund Ideputy chair, spirituality. RE and collective worship) ¢ontinued in his FoundatHJn Govemot tolo, rekn'ring in Juty 2023. Miss Sarah Bowers ac￿￿ as Siaff Governor. A Fwndalion Governor recrultment drive in 2023 proved fruitful, three addlts.onal Foundation Govemors join8d the ￿￿o01'S govemanc8 board by ￿n￿-2023 Imrs Lisa Ivinson, Mrs Sarah Marchant and MT RKhard Wa118rl. Rev OavKI and Markey have Continued to Provide rèligiously foeused ¢halleThJe and well-beiThJ assl$kneè as part of their sur4)ort lo th8 sehool's SLT. 32. More broadly, Rev David and Mrs Nuttall have maintsined their rouune of d91￿￿ring collectiv• worship at BoaconsKla, Hunter Hall and BTunswick Road Infants schods. Both Indlwdu￿S were heavity engaged in supporting chih1￿n wh8n their curr5culum wofk took them into si Andrew's. eg discussing bapti8m and marriage services. At Begconside. Rev David also supported the devèlopment ol spiritualtty and RE across 1he schcx)l. The lunchtime Blble Club al Bea¢onsKle wntinue(J during 2023. primarlly b8$8d on volunteer sup￿rt. 33. St Andrew's has continued to bo o for8ndd4&mi and oth¢r leg HaTvèsI Festival) sery1￿5 ofwoTshlp by a number of local schools, Including Ullswater Comrnunlty Collegè, Queen &izabeth Grammar School and Beaconside. The 1nt8r4ch¢￿S cho*event hekl ai St Andrew's in December 2023 was parocularty SU¢Cgssful and well attend8d. 34. In collaboration w5th th8 NISCU (Nothem Int¢r-sChoo￿ Ch￿118n Unionl. the par￿h,¥ CFM Team delIve￿d an Eastsr-lhemed event in March and a Christhias.th8med event in DecgTnber at ChTlst Church 8itned at school 8g8d chlldren. Page 4 Tho Parochl?I Church Councll of the E¢¢l•slasti¢al Parl$h of Penrith Trusteos. Roport tor tho Yoar Ended 31 Docfjmbgr 2023 Ecumenical R•latlons 35. Cumbrla is committed to 8cumenism and working together 8$ a whole Chrfstian community., P8nrith is at t hoart of Cumbria's cornmitment as an'Ecum8nitsl County,. The Parish of Penrith is at the Core of the Churches Togethgr in Penrith ICTIPI movement. the Penrtth Mlssion Area aTrJ the Penrtth Mi5510n Communlty. 36. Durfng 2023, Rev D8vid. in p8rtn8r5hip ￿th Methodist ministers Rgv Davè Milner and Rev firn Cooke, IBd Ihe fvrth8r d8V81opment ol ecumenical work in P9nrith and across the local ar88. These l¢xal mSn5sters mel for monthly fellowship, support and informal planning. Rev David was alsts the CTIP Chaiman and K4rs Mafgaret I￿Illg s8rv8d as CTiP's Soual Responsibllrty Officer lin which capacity she was the Cfiws f￿al point for drivin9 forward cfiP's'Llnking Llves, befrlendlng initiativgl. CTIP'S has a broad coordinating rernit acr055 the ecumenica1 space, induding.. a. pro￿dIng support for initiatives like The Salvation Army's Nourish project (previously Food Bankl, Christians Against Povgrty Debt Advi￿ CÈntr8, RESTORE and Refugegs Day in the Lakes pmject. b. ArrarvJiro junt outreach events, including Good Friday worship, Easter Sunrise worship at the Beacon. RemembrancB Sunday and Chrfstmas Evo Qutdoor seTrke vAth Penrilh Town Band. 37. Ponrith's Uniled Rgformad Churctt closed physical IoGg1 presènca in 2022 and now operat8S an 8curneriical Servi￿ in the URC tr8d￿On al Chrfst Church on the 41h Sunday tsf èach month. The initiative to offer the URC cornfflunity this Christ Church based opw)rtunty is an example of how well Ii)cal churches cooperate for Ihe good of all. El¢doral Roll 38. The electoral roll is adiu¥ted annually and revised cornp18t81y every six years. The a(Jjustments and revisions are rarrfed out immeillately prior to the parish's annual parochial church me9ting {APCMI. whlch usually occurs in May. The number on the roll in May 2023 was 231, up from 228 in 2022. The ehange 18 account&Y for as follows.. 4 parishlonets moved away. 8 parishionws dèc￿*￿ &)d 15 new applicab¢)ns. 8aptlsms, Mathages and FU￿ra1$ 39. Tablg 3 provid98 annual figufes lor baptisms, rn8rriag8s and funerals for 2023. Ser Ev•nt Number Remarf(s (b) {c} st Andrews Id) l•) Baptis ChTiSt Church St Andrew's 11 WeddiTUS Christ Church st Andrew's Funerals Chrtst Church 20 Crematortum, ￿metery. cha T8bl8 3- Baptism, Marriag8s and Funerals 2023 Statement of Saf•9￿ard￿n9 Complianeé 40. The PCC ￿views, revise8 and ￿approVeS its Safeguarding Policy annually. In 2023. the revised policy document ('Saf8guarding Policy- Promoting a Safer Ctiurch'l was approved at the PCC ffrf8bng held on 5 Jun 23. 41. t￿ring the penod of thi5 report, Mrs Margaret INiryJ was th8 Parish Saleguardiro Officer. Pag8 5 The Parwhial Church Countll of the Eccleslastical Parlsh of P•nrith Trustws. Report for the Year End￿ 31 D•cembtr 2023 42. Mr5 I￿ing'S assessrnent Is that, trjrthe 2023 pertod, the PCC wa8 ¢(￿p1antWrth the dutles requlrwj of it und8r seCt￿n 5 ofthe Safeguarding and Clergy 015cipline Measure 2016, whith states that the PCC 1$ trj'have due reg8rd to the guid8nce issued by Ihe House of Bi5hop$ on matters rel8tiThJ to thg Safeguarding of Children and Vulnerable Aduhs,. Fabrlc Report 43. St Andrew's. The fdknwlng is of notè from 2023". a. Ston•wO￿. Tho majorwork undertaken at st AndreV8 Ihis yoarwa$ the repointing ol the inn8r ￿de of the para￿ the replacement of grodad stong. P(Mn&ng on the lop of the towerwas patched. b. Quinquennlal Irffjpactlons. The &y•arfy inspection of the t*Jikling fabric 8nd Isèparatetyl tha 5-yearfy 918Ctrical Installa￿n conditiorb report inspection took place in 2023. wth r8ports to follow in early 2024. C. Annual Safety Ch•¢kSnnsp￿t1OnSls•￿1lclnq. AJI other nKessary Checks. Inspo¢tlons sery￿ng tooK plac9 as roquired durfng 2023. 44. Chrlgt Chur¢h. The ￿ky**n9 is of note from 2023.. a. Stonwork. Followir¥J on from the survey of the roof 8ThJ external walls in 2021, and vthh the most urgent work relating to thè East End havlng been completed in 2022, Tt had been hopgd the rest of thè repairs Wtsu￿ be completed in 2023. Thg work was, ho￿ver. delayad for various reasons. including that work could nol b¥ carried out when there was risk ol frost. Thg remeinder ol the repair wa5 postyon8d unts"I Spring 2024. b. Oraln and hopper clgaranco. Due to frequent blockages. a specialist firrn was engag8d to dean out the drdins. and, by uslng CCTV ¢8mera. lo Inspect and inv6stvJate any issues. Th8 inspe¢l results inforrr*d Ihe ereation of an onward$ malntenan¢% plan. . Quinqutnnlal Inspectlon. This was dua to take pla￿ in 2023 but, due lo thè above-menlioned itnmlnent stonework repairs, Ihe Inspection has b6en postponed until18to Spring 2024. d. Annual Safety ChecksllnspoeUonslS•Nlclng. All olher necèssary ¢he￿s, Inspeckn$ and servlclng took place as requir8d duriro 2023. Section 4- Flnan¢lal Reviow 45. The Tre88urer ro18 fortt* Parish was taken over by Mr Cliff Harper n October 2023, tho role haviNJ been done by Mrs Margaret Irving for several yèArs. This is Also the fir¥t yeaf thg awunts hav¢ b8en p￿Par8d using the Xero software package. 46. The totsl income re(*ived in the year ended 31 De￿rnber 2023 amthJnte(J to E217.452 compared to a total income of £483,542 In the pievious 12 months. Howèv6r. the prlor year incoffle was inttated by a signtficant leg8cy recelved of £240,000 from th8 estate of Mr Guy Mawson. meaning Ih8 ino)mg for 2023 In actual terms has dropp8d by £26,090. Part of this reduction is due to1gS5 Income being dersved froTn events thrtsughwt the year, and in soma cas8S the loss of income would have been greater if not substdi$8d by the Oulreach fund. On O POSltive not8, however, th& above r8ductFon in In￿Me has been offset by an In¢￿8$e in interest on investments and ￿$h held, with the pemianent endowments from Guy MaW$l￿ and Reg Goodbum Increasi￿ in value from £6S7,84112022110 £748,983 In 2023. The latter inv•stments wll continue to provide thè muth n88ded and welcLxne annual income to support th& continued task of maintsining OUT Grade 1 listed buil¢ling should reiter8te that both legaciès slate that the capital for these lunds cannot be withdrawn. 47. The totsl expenditurè for the yèar amountgd to £222,832 ¢omp8red to £256.701 in the 2022 ygar. There was a substantial rnduction in our maintenance costs a5 woth vthich was due to be carrièd out at Christ Church has not yet been started due tg varlous factors. HO￿ver, it Is 8ntiupatefl th8tthi5 work should bo Stsrted and completed by mid 2024. at an approximate cost of £27,500. We ha￿ received notification of a grant towards thls from Cumbiia Waste Management Environment TNst of £10.(MKJ and th8nk8 must go to Margaret Irviry h8r hard work in applying for, aThJ succeoding in sts¢uring, the said grant. Th￿ is also a grant of £1800 from Ihe B8n8fact Trust also go towards these building works. Tharé was also grant rnon8y rec&Ned thrtyjgh the Listed Pla￿S of Worship Scheme in the form of VAT rafunds amwntsng to £4486 for the ye8r. Page 6 Th& Parochlal Church Councll of the Ecclesiastlcal Parlsh of P•nrhh Trustees. RoPQrt forthe Year Ended 31 December 2023 48. The nel result of the abov8 15 an operating deficat 01 £5,180 compared to a surplus of £226.841 in 2022 bvl egain this figure was largely a8 a of the £240,000 lega¢y from Mr Guy Mawson, a$ stated atrnve. Had this not bo&n received, there would h8V8 been an operating delicst of £13.159. The split of the 2023 defic¢t is a sUrp￿S of £7,171 on the unrestricted fund$. and a defidt of £12,351 on restricted funds. The ovèrall sutplus. aftar gains on our irtve$tm8nt assets, amounted to £103,859 which wa5 reduced by the above deficit of £5,18D, resulting in a net Sur￿￿$ for 2023 of £98,679. Total rgseryes as at 31 December 2023 amounted to £1.284.919 with £336.977 held as unrestricted funds, and £198,959 held as r85tricted fvnds. Th8 baknce of £748.983 is the value of the permanent endowment funds and as such this capital Cannot be spenL Contained within the unrestricted lurKI of £336,977 is an amount of £40,452 which the PCC h89 designate(I for the Tercenien8ry Prtiiad ITC3001 at St Andrews Churth. 49. T*￿ lxrd reader continues to generat8 regular income and the total amowit rec8Nèd was £3,227 ¥thieh included Christlngle and L&ht up a life seThices, aFvJ showod a sllght Increase overall from Ihg prgvious ygar. 50. The arrrtjunt of incrAne r￿1Ved from the Gift Day held in Novomber2023 was rnther disappointing, and had it not included a generoLkS single donation of £4.000 il would have falen well short of previous year. As a resutt of thls, è Stowardshlp c8mpaign is due io b8 rarriod oui in lale Sprfngleady surnmei 2024. 51. It w&$ doddad in 2023 not Èo hokl 8 Warm Spot Inlliativa as ther8 were other local vgnu8S avail8t￿e for this purp￿. How8v8r. a grant was re￿Ned from the t*ocesg of£4580. ofwhth £80 was towards wami ¥POts. and the fernainder towa¥ds th9 inuease in Ullllty costs. 52. Onc* again, th8 Parish is very grateful to thelr parlshloneTS and wsitors sUp￿rting the Parish, and their g8nerosrty not only to churches but also to other CharfIab￿ ap￿81$ bolh Ictally and workjwide. Parsonal Ihanks must go to the Finance comrnittee for their support. an¢J also wr Flnance administrator Kathryn Towson for her hard WO￿ and endeavour throughout the year, parbcupady having to get lo grips ￿7th the new accountirvj sthaie system. A parlicular thanks a130 to Margaret Irving for all her previous as T￿SU￿r, and her continued supw>rt and help to the new Treasurer. H8r experience and knowledge has PTovwI invaluable. Thanks also to jar￿ BoyL4n for conts"nuing to ¢oordinate the annugl plant sale and to Do(Jd and Co our accountants for 1heii SUF¢)Ort arxl guidance. Section 5- R•ser¥es Pollcy 53. It is PCC Frtillcy lo maintain 8 balance of unresln.cted lexclvding designated fundsl rgsoNes whlch equatos to minimum ol six months, expenditure to cover ern¢rgency sitLtatsons that may 8rise froTTTr timg to tim9 afKI that ensu￿$ we can continue lo hor￿Ur commitments to staff and n8C8ss8ry church running cosls. Although the current ￿erVeS level is higher than tt)ts. the PCG Is aware that given th8 exp8Cted major maintenance cost, increased luel charges and a ryjntinued deficit budget, having a high8r reserves level is a very helpful $afeguard lo ensurg we can continue our a¢tNit188 8V8n wh8n income Is reduced. It is our policy to invest our funds wlth th9 CDBF Church of England Investment and Dew>sit Funds and also in various tsjilding socièty accounts. In 2D22 the PCC decided to r8duce its investments in Church ol England Deposit FuThJs and during 2023 g new acKount wa5 Opened with the N8tionw*l8. S•¢tlon 6- Future Plans 54. Looknng foThArd, In addition lo continuing to eompty with all necessary church, local and nattonal legislatM. the PCC'8 long 8nd short-tarm plans include: a. A major works project at St Andrew's lo mark the 300th annlversary ofthe G80ryion buildlng and proV￿e facilities fit for the minktry and outreach of thé chU￿h In lh& centre of Penrilh for y88rB to comg. b. A t8chfilr21 mfresh ofthe parfsh's I￿￿treamIng hardwareAnfrastrucl(sr8. e. Tha CA)nnoction of both St Andrevls and Chrlst Churth to sup8rfa5t brDadband, expanding th8 utility of the buildNgs as community ass&1$ and better enabllng Iiv8Str8amkng thr￿jgh more robust connectivity. d. The eslablishmeni Of a new suWmrnittee ol the PCC to for#Js on thg dgvelopmantof Misslon, Outreach and Worship. e. The recruitment of a ngw Children 8 Families Ministry ICFMI Team Leader and Ihe subsequent delivery 018n incr68singty ombttious progr8mms of CFM events to hèlp grow the parish comrnunity. l. Sgc£Jndary glazing l en¢8psulallon of the $tsin8d-slass wiThJows at St Andre%rfs. Pag8 7 The Parochlal Church Councll ol the Eccloslastlcal Parish of Penrlth Tru$te•s' Report th• Year Ended 31 Dgeèmber 2023 g. Achie*ing steady 8ts1È r81èvant best practice 8spects of safeguarding comiAlanc8. h. Achlevlng steady statè with rejevani best practice aspects tsf health & safety LY)mpllance. i. Continued mandatory upkeep. preventrtive maint8nanix and tepair of the p81ish's bulldlngs. Sgcdon 7- Rlsk Management 55. The trustees confim that the major risks, to which the PCC fis exposed, as id￿tIfied by the truSt￿S, havo been re¥￿We￿ arHJ Ihat systems procedures have been established to manage those risks. The principal ti5k5 and uncert8inti•s which face the PCC relate to the reliabllity and fr8quency of its inwm8, most of wh￿h ' voluntary in nature. and possible diificulties arising from advèrse publicity aff8Cting the Church as a vthole or the PCC of tha Parish of Penrith. As part of Ihg risk rnanegement strategy, having a robust budget wilh Dversight by the Finance Committee and regular rnonitorfn9 reports to the trus18es enaues potential financihl shortfall problems to be idents.fied at an earty stage. Any adv8rs6 publlclty would also bE reported to tha trustees lo enable any ￿$S(ble negative affgcts to be KIentif￿￿ addr8s8ed. Sectlon 8- Structure, Go¥emance and Mon8gem•nt 56. The PCC Is a corpordl8 iyyjy eslablished by the Church ol Englar￿.. R operates under the PCC PO￿[5 Measure and is a reglstered charty. The trustees ol this charity for Ihg 2023 perbd are fistéd at Table 4 Serial 3 Ibaing either ex officio or ele¢ied u￿1￿[ the provk8ions of the Church Repr8S8ntatson Rul98 88 Indicat￿). 57. During 2023, Ihe PCC mèt at an aPpr￿M￿te1requencY of once every ￿ month5. with a total of 6 full PCC meetin9s occuning over th9 yèar {February, March, June, August, October and NovembÈrl. In addrticffj, th8 PCC met in April exprèssly to approve the annual retort and financial statement for 2022. The PCC a150 convened the parish's Annual Parochial Church Meets'ng IAPCMI on 21 May 2023 and ran a'single lÈem' PCC rne8ting for th6 purpose of key offi¢erelections immedi*8ly 8fterthe dos8 ofth8 APCM. 58. All those who attend our parish s8rvices are er%courdged to reglster on th8 electoral rcAI and stand for eledon to the PCC. Over the year. PCC mernb8rshlp ran to 8 8teady stste of around 14 trustees plus a non-voting PCC Secretary Ivtho did not qualify for tr￿$¢ee status). The average rn8mb8r5hip attend8nc6 at PGC meetings w88 circa 75%. well above the quonjm lève1 of one third. PCC members are resptsnsible foT rnaking d8Cisions on all matters of gener41 concern and importance to the parish. indudlng deciding how parish fund8 are spènt. All PCC business (including the e￿cts"0n of membèrs) was executed in sccordance wth Churth Represenlalion Rules. 59. Over Ihe petiod olthls report, thè PCC operated five subordlnale committees, each with 8 r8cogni¥ed chair and set of members Isee Table 4). which v8POrted regularfy bac* to PCC on th8irwort. These ¢ommitLees werg". a. Standing Commlttee- 8 sub-set of Ihe PCC. formalty th8rgèd by the PCC wth Ihe execU￿On of General routino busine￿ on the PCC'S behalfr. financial approval fetained by PCC unloss expressty delegated on a caSe-bY￿e ba$b or in the case of an omorgenw. b. 2 x FBbri¢ Commltte•s- charged by th9 PCC with the coordination and management ofthe Maintenan￿ and r&pair of the parish's buildings land {Whe￿ relev8ntl groun¢Jsl- flnanck81 approval retained by PCC. ex￿pt for IKnrted èxpènditure for urgent matters. ¢. Finan￿ Commltteo- tharged by the PCC to 0￿rate as uibcal friend to the TT8osurer. pTr)vNJlng support and &l¥ice where appropriate: th8 commlttee hag no financkql 8pproval [￿8[$. d. Childr•n & Families Minbsty ICFIAI Stserlng Group- ¢harg8d by PCC with ov&rsight ofand strategic planNng for CFM matters wlthSn the parish. 60. Parfsh Offic• Admlnlstratlorn The Parish offi￿ Ilocated withln Penrlth Parl8h Centw. a separate bullding, mt urrfler the control of thg PCCI continued to be unstaffed, wlth parish offlco administrativè dutles continuing to be apportioned across a small team. Emails and answerphone message$ weTe varlously diverted to Rev Da￿d Sargent, Rev kndr8w Gafflner and Mts Margaret ITvin9, whilè Miss Joanna Irving assisted with prepar811on, printin9, dKJital uploathng and email distiibuh.on of weekly pew 8h88ts. swvice sheets and tt)e montNy Bes￿￿ Magaine plus helpirYJ outwlh a myriad of routine office tasks. Additionalty, Mrs Margaret Irvlng continued to cover the responsitrmlty forordering the office SUFpli8s and printing o)nsumables na8ded to kegp thè parfsh wunniwKJ. Pagè 8 Thè Parochlal Church Council of the E¢¢le$lastlul Parish of Penrlth Trustegs. Report tor thè Year Ended 31 Dgwnb•r 2023 Sectlon 9- Admlnlstratsv• Ink*rnWtlon 61. Tgbl¢ 4 provides key a(Iministralive dgtai15 pertainSng to the pari8hlPCC over the period of the retKJrt. Item Detail for 2D23 {• Ib) {c) The Pafochlal Churth Counul of the Ecdesiastical Paiish of Perkiiih Regtstered Charity Name Charity N￿mber Parfgh Tn￿lee$ (from l Jan 23 to the date of approval of this Feport. showing provènance of trustee statu5 wlth inrfividvals listed in alphabetical order) 1187270 Exlbfflcio Iclergy) Rev Mary E&￿ardS Rev kndrew Gar(kner R8v Canon David Sargent Ex4)fficio (Elected represenlatives to DeaRery Synod) Mrs Mwgaret I￿r￿g Mrs JeTrny Scoging (until 21 May 23) Mbss Sue Tomlinson Mr Duncan Walker Exllfficlo IElected ChurthwardeTrs} Mrs MaTgaret INlng (from 21 May 23) Mr PhIl￿p Lund Mr Bli l Maddams (ur*tll 21 May 23) Mr Matk Popple Elected PCC Mefftber5 Miss Jane 8oylan Mr Hugh El&son (utrtil 21 May 23} Mrs Susan Ellison (untll 21 May 23) Mrs Rosie Fielder (from 21 May 23) Mrs Safy Hardaker (until 21 May 23) MF Stuart Harp￿ (untrl 21 May 23) Mr Richard Haizelden Mr Bdl Maddams (from 21 May 23) Coffjpted PCC Members Mr CIKf Harper (from 2 Oci 23) Rev Belh Honey Rev Canon David Sargent Mr Blll Maddams Chair fjcgchair Page 9 The Parochlal Chur¢h Coun¢ll of the E¢¢leslastlGal Parlsh of Penrfth Trust9es' Roport for th• Yoar Ended 31 December 2023 Seuetary As9iStant S81Jètary Treasuret Mr Tony Crcok (Non-vollng PCC MemberlNon-Twslee) Mr Walker Mr H8fper (from 1 Oct 23) Mts Margaret lThkng (unlll 1 Od 23) Mts Margaret I￿l￿g Safe9uar(fing Officer 10 ChurchwaFdens Mrs Margar@I Irthg (Irom 21 May 23) Mr Phillip Ltm Mr Madd8m5 (untll 21 May 23) Mi Math Popple Mr Tony Cfook (until 1 Oct 23) Rev Andrew Gardner (21 May-1 Ocl 23} Mr Cr￿ Harper (from l Od 23) Mrs Margaret kving Mr Philllp LLFnd (untll 21 May 23) Mr Bill Maddams ￿ce Chal Mr Mark PoMAe (frofn 21 May 23) Rev Canon David SaTgont (Chair) Mr Duncark Walker 12 Slanding Cornmittee 12 FabTfc Committee St Andt8Vs Fabrlc Commlilee Miss Jane Boylan (Chair & POC foT PCC) Mr Rlchard Haizelden Mr Phllllp Lund Mw Math Poppl8 Chrisl Church FabTiC CoHwnlttee Mr Philip Bell Mr5 Sally Hardakor Mr8 Margafel Irving (Chair & POC for PCC} Mr5 Sally Hardakor MIS Cathy HaqKr Mr Cliff ma￿er (Chair) {Assumed membership and ChaiF ￿ 1 Oct 23) Mrs Marg8Tet I￿Ing (Chair) (Vacated, Chaw on 1 Oct 23 but remained a Fnembei) Rev Canon Davld Sargent (Ex-Otficio} Mrg Llz Thompson Mi John Woothwn 13 Finance Comfflittee P8og 10 Th• Parochlal Church Council of the Ecclesiastical Parfsh of Penrfth Trusto0$' R&F>Ort for t￿ Y￿r End•d 31 December 2023 14 Children & Familles Minislry (CFM} Steering Group Rev Beth Honey Mrs Margaret [￿lTrg Mf Phlmlp Lund Mrs CheTrda Nultall {CFM-Team Leadei) {unld 30 Aug 23) Rev Canon David Sargent (Char) Mlss Joanne Ir¥lng Rgv Canon D￿ld Sarg8llt Mr D￿nc￿n Walker Mr JohTr Woo(knan Mlsg Joanne Irving 15 Pa¥ish Magazine EdiloTial Te 16 Website Admlnlslrators 17 Charity Cornmissior* Representative Correspondeneè Adthess Mr Clrfl Harper (from l Ocl 23) Mrs Mafgaret INing (unlil 10rt 23) 18 Church Olllce. Penrilh Parish Cenlre, Sl Andrew's Place, Peniith, CA117XX 19 Independerhl Examiner Dodd & Co Limited. Clint Mlll. COmma￿e1. PenThh. CA117HW 20 21 Bankers Sotlcllo Unity TN5t Bank PLC, 4 B￿ndleY Place, Bwmingham. B12JB CartmeB Shepher(t Bishop Yardg. Penrfth. CA117XS Mr Paul Grou(1 Angel Yard, Hlghgale, Kendal, LA9 4DA Afchftect {St Andrew's) Architect {Chrlst Church) Table 4- Key AdministraiNe Informatlon 2023 23 MrJohn Bames. Selah Housè. Remvick. PenTilh. CAIO 7JZ Approved by the Tnjstees on 24 April 2024 and signed on Ihelr behalfby.. Trustee Page 11 The Parothlal Church Council of Ihe Ecclgslostlcal Pallsh of Penrilh Trusl•es' Responslblllttos In relation to tho Financlal Statements The tru5tee$ 8re r8sponsible for preparing the TNstees' Rgport and the financ481 s12tements in acc¥xdanco wlth applicable law and Uniled lfjngdom Attounting Standards. The law applicable to charities in ￿n￿aTrI and W8les requires the trustegs to prep3Te financi81 statements for each financial ygar whlch givg a true and fair vlew ol Ihe stal8 of affairs of the charity and ol the incorning resources and applwlion of resources of th8 charity for that Period. In preparing tjw financial stat8m8nts, the tNstÈes are r8qu%r8d lo.. select suftable accounting poiKies and then apply them consisteDUy: ob39rv8 the meth¢ds and prinaples in the Charitia8 SORP- m3k8 judgements and estirnatas that are reasonab￿ and prudont. Stato whelhgr applicable accountin9 Standards have be8n followed, subjact to Bny material deparbjres disclosed and explained in thg financial stalements.. and p￿pare the financkgl statements on the 90in9 COn￿M basis unless It is inapprop￿te to presume that the chaiity will Continue tn business. The trustEe5 are r85ponsib￿ for keeping pKpef accounlng fgcords Ihat disclose with reasonab18 aiLuracy at any time the flnancial PO￿tIOn ol the charty and enable them to ensure that the flnancial statements bwth the Charibes Act 2011. lh8 Charity IAccounts and Reports) Regulations and the provtslons ofth8 trust de8d. They arè responslble for safg9uarding the assets ol the ch8rlty and hence for taklng reasonable steps for the prevention and dete￿1(￿) of fraud other irr8guk7rities. Page 12 Indepgndent Examlngfs Report lo thg Trustees of The Parochial Church Councll of tho Eccle8lastlcal Parlsh of Penrlth report on the accounts of Ihe charity for the year ended 31 D￿rnber 2023, whlch are Sèt out on pages 14 to 28. Your attentlon is to drawn to the fact that th8 Charfty has prgparad Iha ￿n￿cial $tsternents in accordance wth A¢Wun￿ng and Reporbng by Chaiities preparing their accounts in accordance with th8 Financial Reporting StsnrJ8rd appIl￿ble in the UK and Republic of Ireland IFRS 1021 in preference to Ihts Accounting 8nd R&FK)rtiThJ by Charities. Slatement of Recommended Practice issued on 1 April 2(K)5 which 1$ r9fStr￿ to In the extant Tegulations but has since t)een wlthdfawn. Wa und&rstand that this has been don8 in order for Ihe ac(x)unts to wovide 8 tru& Bnd fair view in ac(x)rdanc8 with the Gènerally Acxepted Aecountln9 Pr8ctice effectNe lor repor￿9 perfods beginning on or after 1 January 2019. R•spodfve re*￿n81b1llt1￿ of trusttss al￿ examlnor Thè Chaiivs tnJst8es gre responsible fDr the preparation of th8 accounts. The Iw$t•es conslder Ihal an audit 15 not r8quirod for this year undgr section 144121 olthè Charits"es Act 2011 (the 2011 Act) and that an independent 8xamination is n88ded. It is my rèsponsibillty to.. ¥xamine the accounts undgr sectlon 145 ofthe 2011 Acl,. follow tho procedures laid down In Iho Gengral ￿reCt￿$ given by thè Ch8rFty Commlsston under secuon 145151 Ibl of the 2011 ACL- and State thèther particular matters have oom8 to my attention. Bag1$ of Inde￿ndfrnt exarnln•rf$ rèport My examina￿On was carried out In ac￿r￿an(g with the Ger￿1 Directions gwen ty the Charty Commissbn. An 8xaminaticm intlud&s a revKgW of the accounliro records kèpt by the charity and a comparison of Ihe acEoun15 presented with th088 f8eords. It a150 indudes consideration of any unusual items tsr disclosures in the accounts, 8nd seaking explanations from you as truste88 concerning any 8uch matters. Thg proc8dures undertaken do not provK19 all the evklence that W(MJld be ￿qUired in an audrt and consequently no opinion is given as to whether the accounts present a'true and f8iT Vi8W and the ￿lK)rt És Ilmlt8d to those matters Set out in the statement below. Indèpendont examinor's statem*nt In Connect￿n with my examina￿0￿. no matter h8$ como to rny att8ntN)n.' It) which gives me r8asonable cause to bel*ve that in any material ￿pect reqUi￿n￿ntS.. to keep acmuntirvJ racords in accordat)ce ￿th sgction 130 of the charit￿s Act 2011,. and to prepare actounls which aco)rd wth tho occountiThJ records. comKdy th8 accDunting requirgm8nts ol the 2011 Act have not been meL' or 121 to which, in rny opinion, 8tt8ntK)n should be In order to 8nabl8 a proper undetstsndlng of th& accounts to be r9ach•d. Clinl Mill CoMma￿et PENRITH 11 7HW rraiJai19 ACA Dodd & Co Limited Chartered Accountants 24 April 2024 Page 13 Tho Paro¢hlal Church Councll of the Ecclesiastlcal Parish of Penrfth Statement of Financial Adivities for the Year Endod 31 Decembfjr 2023 UnT•Striet•d Rostrlcted Endowm•nt Total Funds Total Fund$ Funds Funds Funds 2023 2022 Incom• and endowments from.. Donaiions and legaries Olh&r trading actiwti&s Inv8sirnet Charitable 8ctiviti98 Other incom8 Total Inco￿ 152,653 8.573 18.695 16,257 5.885 158.538 8.573 31,483 18.858 415.593 31,683 20,233 11,123 4.910 12.788 2,601 Expendlture on: R8ising funds Charitable activiti&s Totsl trxpgnditure 3.298 185,709 1.253 32.372 4,551 218,081 14.022 242,679 Net incomellexpendthrel beforè Iransfgrs and 9alnslOos59S 7,171 112.351} {5.180} 226.841 Not gainrJlloss851 on investments 12,717 91,142 103,859 175.279) Nel incom8l18xpe￿l[t￿rel beforg transfers 19.888 112,351) 91.142 98,679 151.562 Transfers betr￿n ￿ndS Net movements In funds 19,888 112,351} 91,142 98,679 151.562 Recon¢lllailon of fund$ Total funds bruuyht loThvard Total funds carried forward 317,089 338,977 211,310 657,841 1,18e240 198,959 ￿￿r3 1.284,919 74 1.034,678 .186,240 Th8 not6s on pages 16 to 28 k)rn an intsgrdl part ofthese financi81 statements. Page 14 The Parochlal Church Councll of the EGdoslastl¢al Parlsh of Penrith Balance Sheet as at 31 Decombgr 2023 2023 2022 Note Flxed assets Tangible assets Investments 13 14 460 908,464 908,924 834 599.780 600.614 Current a888ts Debtors Cash at bank and in hand 15 10,218 382,201 392.419 246,991 349.9D8 596,899 Cr8dltors.' Amounts falllng duo wlthln on• y•ar (16,4241 {11.2731 Net ¢urr•nt a8￿t* 375,995 585,626 Net as¥ets 1.284,919 1.186,240 lunds of the charity: Endowment funds 748,983 657,841 Restricted funds 198.95 211.310 Unrestrf¢tsd lunds Unrestdcted income lund$ 336,977 317,089 Totsl ¢harity lunds The Ilnandal ststements hav8 b88n pr8pared in accordarKe wlh th& Flnand81 Rep)rtlng Standard applicable in thg UK and Repubtic of Ireland IFRS 1021. 1,284,919 1,186.240 Approved by the Board on 24 April 2024 and signed on hs behalf by. WA Ma(*Jams Tru8tsè C Harper Trustee The notes on pag8s 16 to 28 form an integral p8rt ofthese financkgl stst&ments. Page 15 Th• Parochlal chU￿h Councll of the Ecclèslastlcal Part$h of Penrith Notes to the Financial Stat•ments for the Yejr Ended 31 D•cambor 2023 Aecountlng pollclo$ ststement of eompllan¢• The accounts (financial ststem8ntsl have be8n prepared under the hi3lorical Cost cowwention wlh Itoms recognised 8t tost or transactson value unlgss oih8rwL8e 3ts1*d In the f81evant nolelsl to these arxounts. The financial statem8nts have boen prepar8d in accordarte with th8 second ediSKJn ol the Charilles Slatement of Recomrnended Practice Issued In Octoter 2019. the Fln8nclal Reporbng Standard appllc8ble In the United Kingdom and Republ￿ of lyeland IFRS 1021 and th6 Chadties Act 2011. Thg accounts lflnanGial 5tat*nentsl have been prepared to give a and fairf vi8w and have departed from the Charitse¥ IAccounts and Reports) Fl8gulatior15 2008 onty to tme exient Tèqulred to provide a and fair view,. This d8parture has Invo￿ad follDwlng Accounhng and RepDrtIttg by Charities pr8parin9 their ccounls in accordance with the Financial Reporting Slandard appllcable ill the UK and Republic ol Irgland IFRS 1021 rather than the A¢￿￿nts"ng and Reporting by chant￿S.'S￿teMenI of R8comm8nded Practice èffèclive from l Awil 2005 whlch has sin￿ be8n wthdravm. 8•8Is of preparatÉon The charity me8ts the defin￿On of a putrAic benefit entity under FRS 102. Ass8ts And liabilit￿$ are Initi81ty recognlsed at historical co$t or transaction value unless otherwise stated in the r8Levant &￿UntIng Fdicy Golng concern These ffinandal st8t•ment$ hav8 bèen pr8pared on a going ￿nCern basis. Fund accountlng poli¢y un￿StriCted inGom8 fiJfKls a￿ genera l￿dS that avallable for use al th8 tsWSte￿, diseretson in furtheMnc9 of the ot4ecbves ol the ¢h8rty. Restrlcted fund3 ar8 those dwat•d tr u80 in a parllcu18r area or for $pecffic purpos•s, the use of is restricted to Ihat area or wrpose. Designated lunds are unTestrthd fvnds set a$id8 at the discr8tion of Ihè trustees for spacffic purtK)$8$. Futher detsiLg of each fund are do8¢1058d In note 18. P¥ge 16 Thè Parochlal Church Coun¢ll of thg Ecclesiastical Parlsh of PenTith Noles to tha Financlal Statsments for the Year Endod 31 D8cembèr 2023 . continuod Income and endowments Donations and legac￿$ indudin9 donatK)ns. gffts, legaoes and grants that provide Core ftJndin9 or are of a g8neral nature 1$ r9ctsJnis6d ￿ere (here rs ent￿ernent, it Is prcFbable that tha income will be roceived aThY ihe amount can be measured with sufficlent reliability. Incomè from Govemment and other grants. whether'capilal, grants or'r8venLte' grants. is ￿Cognised when the chwity has gntiUem6nt to the fvnd$, any performance condit￿$ attached to the grants have been met, It ts probable Ihal Ihe income wll be re￿￿ and the arnount can b6 measured reli*Ay and is not detsrred. Gtfts in ￿"nd are Tecc¥Jnb3ed in drffèrent ways dependent on how are used by Ihg charity.. (11 Those donated for res818 produce income %vhen thgy aro ￿d. They arg valued at th8 amount actually rèalised. lill Those donated for onward transmisslon to bgn8fici8ri8s aro included in the Staternent of financial a¢tivitie5 a5 incoming re￿urCeS r6s0urees expended when they di9tributed. They are v8lued at the amount the tharfty would have had lo pay to acquire th&m. Th8 chorfty has not ￿e1ved any goDd$ for use by the tharity itsalf. Inooming resources from tax red8im5 ar8 induded in the st8ternent of financial activities at Ihe same time as th8 gift ts) whlch they relats. Income derived frorn events Is recognised as earn8d (that is. as the related gotsds or s8NG9s ar6 P￿dad>. Investment incom8 13 recognlsed on a receNat￿8 basis. Income from charitsble acUvlti6s Includes income recognlssd as oamed {a$ the rglat8d goodg or sorvicag afè provi(6e(11 underconlract. ExpendituTe Li*Jilities 8re recognlsèd as soon 8$ there is 8 leg81 or constructive obliga￿On committlng the charily to tho expenditu￿. All expendf¢ur8 15 accounted for on an accru8￿ basis and has been dassffitrd under he8dlng$ that aggregdte all costs relatgd io thg category. Rxislng funds are the ￿sts of trading for fundra161ng purposeg. Charitsbfe expenditure compri888 thoGe costs incurred by Ihe charity in the dellvery of its 8Ctivit￿5 and ser¥ic8s for It5 bèneficAaries. It in(Jude5 both costs that cgn bg alk)trAted direcdy to such 8¢tiviti85 and those costs of 8n indirect nature nacessary to supp¢xt Ihom. Support eosts SuppK)rt eosts indude ￿￿traI funciions and have been allocated to aebvty cost categories on a b8SiS ¢onslStent wth the use of resou￿&5, for 8xampla, alto(aling property costs by fflooc areas, or per capita, staff costs by lh8 tirne spent and ¢X* cfj Suo)o) 'C'C'C¢X4(< I Tr- Lr> ro 3 2 2 u&C&￿aLir£ ¢71 r(4U)￿o Tho Parochial Church Councll of tho E¢¢l•$ia$ti¢al Parlsh of Penrith Note8 to the Fknanclal Statgmgnts forthè Yaar Endod 31 Do¢ombw 2023 19 N•t asséts by fund un￿striCted Fund# Rèstrleted FundB Endowment Funds Tangible assets Investments C¢Jrrent assets Creditors.. Amounts falling due Mthln ong yèar Net a359ts 460 159.481 193,460 11e,4241 748.983 198.959 Total Funds 2013 Total Fund• 2022 Tangible assets Investments Current assEt5 Cfeditors.. Amoun18 falling due wthln one year Net assets 834 599,780 596,899 111.273} 1,186,240 8,464 392,419 118,4241 1,284,919 Prlor p•rtod Unrestrlcie Funds R•strl¢t•d Funda EndowTngnt Total Funds Funds 2022 Total Fund5 2021 Tangible Assets Investments Current assets C￿dEtors.. Amoun15 falling due wrthin one year Net assets 834 167,138 159.674 834 599.780 596.899 1,217 673.750 367,868 14,801 197,225 417,841 240,000 110.5571 17161 111,273) 18,1571 317,089 211,310 657.841 1.186,240 1.034,678 Pag8 28