The Parochial Church Council of the Ecclesiastical Parish of St Andrew Soham
TRUSTEES' REPORT AND ACCOUNTS
FOR THE YEAR ENDED
31 DECEMBER 2023
Registered Charity Number: 1196349
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
| CONTENTS | Pages |
|---|---|
| Trustees' Report | 1 to 5 |
| Independent Examiner's report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 14 |
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
INFORMATION
Correspondence address The New Vicarage 27 The Oaks Soham Cambs CB7 5FF Vicar The Revd Eleanor Whalley Bankers Barclays Bank Plc Leicester LE87 2BB The CBF Church of England Funds, Senator House, 85 Queen Victoria Street, London, EC4V 4ET Independent Examiner Sue Chase, Simple Solutions (Cambs) Ltd Inspecting Architect Stephanie Norris, Stephanie Norris Architects
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
ADMINISTRATIVE DETAILS
Ex Officio - Clergy
Eleanor Whalley Hannah Richardson (on maternity leave from 27/2/23)
Ex Officio - Wardens Mark Campbell Diane Cole
Ex Officio - Synods
Carol Weyman
Elected: Carol Weyman 24/03/23 Michelle Palmer 24/03/23 David Tickner 24/03/23 John Cole 27/04/22 Margaret Fisher 27/04/22 Christine Gascoigne 25/05/21 Susan Taylor 25/05/21 Pamela Cole 25/05/21
Elected members with a three-year term Carol Weyman
Elected/Appointed Officers of the PCC Vice-chair Treasurer
Vice-chair Mark Campbell 27/04/22 Treasurer Simon Wright to 27/04/23 Michelle Palmer from 02/04/23 Secretary David Tickner 27/04/22 Parish Administrator Margaret Fisher 05/02/17 Electoral Role Officer Lynne Webb 27/04/22 Safeguarding Offocer Carol Weyman 15/07/22 Data Protection Officer Margaret Fisher 28/04/22 Gift Aid Officer Eleanor Whalley 27/04/22
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
OBJECTIVES AND ACTIVITIES
We aim to serve our communities prayerfully, and to work together with friends within the church community and beyond, aiming to play our part in the building of God's Kingdom and helping people to experience God's love and grow as disciples of Jesus. We enjoy each other's company as we celebrate God's hope and life and the beauty of creation.
FINANCIAL REVIEW
The total amount of unrestricted, everyday income for the year was £72,065 (£71,382 in 2022). Corresponding expenditure amounted to £73,194 (£72,901 in 2022) giving a deficit for the year of £1,129. (£1,519 in 2022)
Income specifically relating to pledged giving, which includes tax reclaimed, was £42,509 (£41,751 in 2022). Fund raising activities raised £11,269.
Restricted funds showed an income of £259,616 and expenditure of £260,283. These exceptional figures are due to the grant funding received during the year and the work restoration work carried out. See note below.
Endowment Funds performed well this year showing an increase in value of £12,206 (£17,309 fall in value in 2022). This increase remains unrealised.
In the Footsteps of St Felix
After submitting a bid in 2022, the church was successful in obtaining a grant of £250,000 from the National Heritage Lottery Fund towards a £351,298 capital project. The project, ‘In the Footsteps of St Felix’, undertook essential repair work to the church transepts and holding repairs to the nave roof. The building project involved reroofing, replacing and repairing rainwater goods, repointing and associated repair to roof timbers and masonry. Alongside the capital project was an extensive Activity Plan which took as its inspiration the church’s early medieval foundation and delivered a range of historic and heritage themed activities for the local community, and to young people from Soham Village College and St Andrew’s Primary School. The project will complete on time and under budget in August 2024.
Principal Funding Sources
The regular sources of funds for normal operation are charitable donations from Church members, fund raising activities which bring in contributions from the wider community, statutory fees due from weddings and funerals, and interest and dividends from our investment holdings. Additional sources of income come from Soham United Charities and an annual grant from Pembroke College towards the cost of our insurance premiums in respect of the Chancel.
Investment Policy
St Andrew's reserves are invested with the CBF Church of England Funds, and in deposit accounts operated by the Diocese, which are reviewed regularly.
Reserves Policy
The level of reserves that will be maintained will be sufficient to ensure the Church continues to function throughout the ensuing year. Unusual income, such as bequests and occasional unrestricted lump sums, for use in funding nonregular needs, are held in reserve as designated funds. The Charity aims to hold in excess of one year's worth of running costs (around £70k). At the year end the total funds held were £199,809, of which £50,130 were restricted funds, £141,939 were endowment funds leaving free reserves of only £7,740.
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Principal Risks and uncertainties
The quinquenniel inspection of the Church in 2021 reiterated the need for very considerable and urgent restoration work to be undertaken as soon as funds became available to carry it out. During 2023, thanks to the successful bid to the National Lottery Heritage Fund, the much needed restoration work has started and will continue into 2024.
Volunteers
The life of St Andrew's Church relies on ongoing prayer, commitment and contribution of members of its congregation and very many other volunteers throughout the year. Their efforts are greatly appreciated: we could not begin to manage without them.
PUBLIC BENEFIT
The Trustees, in setting their objectives, have had due regard to the public benefit guidance issued by the Charity Commission. Their specific objective is to promote in the ecclesiasctical parish the whole mission of the church. This is achieved through the provision of services of public worship, including the Occasional Offices (baptisms, weddings and funerals); the provision of other activities open to all members of the public and aimed particularly at those in need (eg. ocassional after-school drop-ins, such as our annual Pancake Party); making the church building available for use by external organisations whose activities are of direct public benefit, particularly to those in need (eg Ely Foodbank at Soham).
PLANS FOR FUTURE PERIODS
We look forward to the coming year, and in particular to:
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Continuing to develop the spiritual and pastoral life of the church and wider community,
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Developing our wider-community links, including with other churches and fellowships, with our local foodbank, Soham's Schools and with residential/nursing homes,
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Carrying out future heritage-related activities,
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Continuing to work to bring in funds for both everyday running costs and large scale restoration work.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
STATEMENT OF TRUSTEE'S RESPONSIBILITIES
The Trustees are responsible for preparing the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice)
The Charities Act 2011 (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed, require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period.
In preparing those financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue as a going concern.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Parochial Church Council on …................................... and signed on their behalf by:
….............................................................
The Revd Eleanor Whalley (Chair)
…............................................................. Michelle Palmer (Treasurer)
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
INDEPENDENT EXAMINERS REPORT TO THE PCC of St Andrew, Soham
I report on the accounts for the year ended 31 December 2023 which are set out on pages 7 to 14 of the Financial Statements.
Respective responsibilities of the PCC and the Examiner
The Charity’s trustees are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to
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examine the accounts under section 145 of the 2011 Act,
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follow procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b) of
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the 2011 Act, and
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state whether particular matters have come to my attention.
Basis of the Independent Examiner’s Statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the PCC committee concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in a full audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent Examiners Statement
In connection with my examination, no matter has come to my attention
- which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 103 of the 2011 act, or, to prepare accounts which accord with these accounting records have not been met,
Or,
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date: 25 April 2024
Sue Chase
Simple Solutions (Cambs) Ltd 5 Williams Close Great Gransden SG19 3QS
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
STATEMENT OF FINANCIAL ACTIVITIES
| Note 2a 2b 2c 2d Restoration project 2e Other income 2f 3a 3b Restoration project 3c 5 Net Income/(expenditure) 8 AT 1 JANUARY 2023 TOTAL RESOURCES EXPENDED Investments TOTAL INCOMING RESOURCES RESOURCES EXPENDED Raising funds Charitable Activities INCOMING RESOURCES Donations and legacies Charitable Activities Other trading activities Gains/losses on investment assets unrealised BALANCES BROUGHT FORWARD TOTAL FUNDS AT 31 DECEMBER 2023 Transfer between funds NET MOVEMENT IN FUNDS AFTER TRANSFERS |
Unrestricted Restricted Endowment TOTAL FUNDS Funds Funds Funds 2023 2022 £ £ £ £ £ 47,596 1,333 - 48,929 81,729 10,087 - - 10,087 9,588 11,269 - - 11,269 3,800 2,482 2,771 - 5,254 4,285 - 254,526 - 254,526 1,000 630 986 - 1,616 72,065 259,616 - 331,681 100,402 475 - - 475 475 72,719 2,251 - 74,970 98,349 - 258,032 - 258,032 73,194 260,283 - 333,477 98,824 12,206 12,206 (17,309) (1,129) (667) 12,206 10,410 (15,731) 0 0 (1,129) (667) 12,206 10,410 (15,731) 8,869 50,798 129,733 189,400 205,131 7,740 50,130 141,939 199,809 189,400 |
|---|---|
The ensuing notes form part of these accounts
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
BALANCE SHEET
| Note Investments 5 6 Creditors: amounts falling due within one year 7 Creditors: amounts falling due after more than 7a 9 9 9 FIXED ASSETS CURRENT LIABILITIES NET CURRENT ASSETS CURRENT ASSETS Debtors Cash at bank and in hand Unrestricted Restricted Endowment one year NET ASSETS FUNDS |
2023 £ 166,200 166,200 2,790 58,976 61,766 8,156 53,609 20,000 199,809 7,740 50,130 141,939 199,809 |
2022 £ 151,223 151,223 5,352 67,939 73,291 35,114 38,177 - 189,400 8,869 50,798 129,733 189,400 |
|---|---|---|
Approved by the Parochial Church Council on…..............................
….............................................................
The Revd Eleanor Whalley (Chair)
…............................................................. Michelle Palmer (Treasurer)
The ensuing notes form part of these accounts
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
1. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared under the historical cost convention. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their own accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006, and UK Generally Accepted Accounting Practice.
Going Concern Basis
The trustees consider that the going concern basis is appropriate as they consider the reserves levels to be sufficient to ensure that the trustees can meet their financial obligations for the next 12 to 18 months and on the basis the entity is a going concern.
(b) Funds
Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and which are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also treated as funds which have been given for a particular purpose and which are therefore not available for the general purposes of the PCC, but only for this particular purpose.
(c) Income
Income from planned giving and collections are recognised as received. Income tax recoverable on covenants or gift aid donations is recognised when the related income is recognised. Grants and legacies are recognised when the amount falls due. Rents and investments income are recognised when receivable.
(d) Expenditure
Expenditure is recorded when payable, and where unpaid at the year end are included as creditors.
(e) Fixed Assets
Consecrated property is not included in accordance with s.10(2)(a) and (c) of the Charities Act 2011. Assets listed in the Church inventory, which require a faculty for disposal, are inalienable property and not included in the accounts. For inalienable property acquired prior to 2015 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since January 2015 will be capitalised and depreciated in the accounts over their currently anticipated useful economic life where the cost is deemed sufficiently material.
(f) Investments
Investments are stated at market value.
(g) Taxation
The charity is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
| a) Donations and legacies Pledged Giving: Offertory Tax reclaimable Collections Contactless donations Other donations, grants and legacies LPWS grant b) Charitable activities Church activities: Wedding and funeral fees c) Other trading activities Fund raising events d) Investments Interest Dividends e) Restoration Project Grants f) Other income Other TOTAL INCOMING RESOURCES 2. INCOMING RESOURCES |
Unrestricted Restricted Endowment Funds Funds Funds 2023 2022 32,990 32,990 30,800 9,519 36 9,554 10,951 2,056 798 2,854 3,696 1,598 1,598 1,166 1,432 500 1,932 32,889 - 2,227 47,596 1,333 - 48,929 81,729 10,087 10,087 9,588 10,087 - - 10,087 9,588 11,269 11,269 3,800 11,269 - - 11,269 3,800 1,198 2,771 3,969 465 1,285 1,285 3,820 2,482 2,771 - 5,254 4,285 254,526 254,526 - 254,526 - 254,526 - 630 986 1,616 1,000 630 986 - 1,616 1,000 72,065 259,616 - 331,681 100,402 TOTAL FUNDS |
|---|---|
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
| 3. EXPENDITURE 3a. Raising Funds 200 Club prizes |
Unrestricted Restricted Endowment Funds Funds Funds 2023 2022 475 475 475 TOTAL FUNDS |
|---|---|
| 3b. Charitable activities Ministry Share Vicar and curate allowances Church utilities Church insurance Church Repairs & maintenance Wedding & Funeral Fees Donation Roof repairs - bird control Project management Architects fees Legal fees Admin Honoraria Junior church Contactless charges Governance: Independent Examination |
475 - - 475 475 Unrestricted Restricted Endowment Funds Funds Funds 2023 2022 45,000 45,000 48,186 3,683 3,683 2,571 975 975 1,437 8,661 398 9,059 6,441 3,245 1,853 5,099 5,129 5,233 5,233 100 100 - - 12,513 - 4,400 - 7,049 300 300 3,870 1,323 1,323 1,813 3,200 3,200 2,400 290 290 1,400 - 180 - - 710 710 960 TOTAL FUNDS |
| 3c. Restoration Project Fees & work carried out Donations |
72,719 2,251 - 74,970 98,349 252,532 252,532 5,500 5,500 |
| - 258,032 - 258,032 - 4. Trustee Expenses No members of the PCC received any remuneration NO PCC members claimed expenses |
|
| TOTAL RESOURCES EXPENDED | 73,194 260,283 - 333,477 98,349 |
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW SOHAM FOR THE YEAR ENDED 31 DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
| 5. Investments Value at 1st January 2023 Additions Disposals Interest and dividends Revaluation gain/loss Value at 31 December 2023 Invested in: CBF Investment Funds CBF Deposit Funds Investments held by: General Fund Fabric Fund Sunday School Fund Bells and Tower Maintenance Fund 6. Debtors Tax recoverable Other Debtors 7. Creditors: amounts falling due within one year Trade Creditors Other Creditors 7a. Creditors: amounts falling due after more than one Loan from Cambridgeshire Historic Churches Trust |
Unrestricted Restricted Funds Funds 21,490 2,771 - 24,261 24,261 - 24,261 8,391 15,870 24,261 year |
Endowment Total Funds 129,733 151,223 - - 2,771 12,206 12,206 141,939 166,200 141,939 141,939 24,261 141,939 166,200 46,996 46,996 19,644 19,644 31,987 40,378 43,312 59,182 141,939 166,200 2023 2022 £ £ 918 716 1,872 4,637 2,790 5,352 2023 2022 £ £ 1,483 34,154 6,673 960 8,156 35,114 2023 2022 £ £ 20,000 20,000 - |
|---|---|---|
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8. FUNDS
The movements on the funds are:
| Restricted funds: Flower Fund Sunday School Fund Bell & Tower Fund Fabric Fund Youth Work Fund Noticeboard & Communications Fund Hymn Book Fund Restoration Fund Mothers Union National Churches Trust Fund Unrestricted funds : General Fund Endowment Funds: General Fund Sunday School Fund Bells and Tower Fund Fabric Fund |
Opening Balances at 1 January 23 Incoming Resources Outgoing Resources Transfers / Revaluations Balances Carried Forward 1,944 (484) 1,460 7,273 1,118 8,391 14,216 1,653 15,869 12,060 (1,369) 10,691 280 500 780 493 493 97 97 14,435 255,324 (258,431) 11,328 986 986 36 36 50,798 259,616 (260,283) - 50,130 8,869 72,065 (73,194) 7,740 8,869 72,065 (73,194) - 7,740 42,955 4,041 46,996 29,237 2,750 31,987 39,587 3,725 43,312 17,954 1,690 19,644 129,733 - - 12,206 141,939 189,400 331,681 (333,477) 12,206 199,809 |
|---|---|
Restricted Funds consist of:
Flower Fund - donations and fundraising for the cost of flowers.
Sunday School Fund - donations and endowment fund income for the Sunday School .
Bells and Tower Fund - donations and endowment fund income for the maintenance and repair of the bells and tower. Fabric Fund - donations and endowment fnd income for the upkeep and repair of the church fabric. Youth Work Fund - Council Grant for youth work.
Notice Board & Communications Fund - Grants received to allow church events to be publicised more widely.
Hymn Book Fund - donations for updating the hymn books and PA system.
Restoration Fund - donations made towards the costs of restoring the church building.
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Project Management Fund - Donation received to support St Andrew's Church-based heritage-related project management activities.
National Churches Trust Fund - Grant received to support the efforts to combat the problem of roosting birds in the church roof.
Mothers Union Fund - donation made for helping families in need.
Endowment Funds Consist of:
General Fund - Cowell bequest the income from which can be used for general purposes and is taken directly to unrestricted income
Sunday School Fund - Peacock and Lyon bequests the income from which is to be used for the Sunday School and is each year included in the Sunday School restricted fund.
Bell and Tower Fund - Peacock bequest the income from which is to be used on the church bells and tower and is each year included in the Bells and Tower restricted fund.
Fabrick Fund - Basil Slack Trust and Grace Norman bequest the income from which is to be used for the upkeep and repair of the church fabric and is each year included in the Fabric restricted fund.
9. BREAKDOWN OF NET ASSETS BY FUND:
| Investments Current assets Liabilities |
Unrestricted Restricted Endowment 2023 2022 Funds Funds Fund - 24,261 141,939 166,200 151,223 14,596 47,169 61,766 73,291 (6,856) (21,300) (28,156) (35,114) 7,740 50,130 141,939 199,809 189,400 |
|---|---|
10. Trust Funds
The PCC acts as trustee for the Mrs Jill Clark and Train Explosion funds, with a value of £1,896 and £672 respectively, which have charitable aims different to those of the PCC and are therefore not included in these accounts.
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