## **WATLING VALLEY ECUMENICAL PARTNERSHIP** ## **FINANCIAL STATEMENTS** **For the year ended 31[st] December 2023** ## **Watling Valley Ecumenical Partnership** ## **CONTENTS** ## **Page** # **Reference and Administrative Details 3** **Annual Report** **4** **Independent Examiner’s Report 6** **Statement of Financial Activities 7** **Notes to the Financial Statements 8** _**For information:**_ **Receipts and Payments By Church 12 Balance Sheets By Church 13** 2/15 # **Watling Valley Ecumenical Partnership REFERENCE AND ADMINISTRATIVE DETAILS** **NAME Watling Valley Ecumenical Partnership (WVEP)** **ADDRESS c/o The Partnership Office 33 Dulverton Drive, Furzton, Milton** **Keynes MK4 1NA TELEPHONE 01908 507123** **WEBSITE www.watlingvalley.org.uk** **COUNCILMinisters Rev Barry Lotz Rev Mike Morris Rev Adedayo Adebiyi Rev Ruth Harley Alison Drury Until August Rev Sharon Grenham-Thompson** **Officers Chair Lynne Smith Team Leader Barry Lotz Secretary Beryl Hallsworth Treasurer Janet Nelsey SafeguardingVivian Onohwakpo** 3/15 **Representatives Holy Cross Judy Martin and Tomi Fagbuyi** **Hogg** **Pearce** **Sharrocks Bernard** **All Saints’ David Thom and Gillian St. Mary’s Natasha Taylor and Ian Servant King Terrence Dawes and Peter St. Giles’ Steve Morley and Albert** **Administrator Liz Morris Principal Bankers Lloyds Bank, Barclays Bank, CAF Bank and Central Board of Finance of the Church of England** **Independent Examiner Mr Olufemi Oyetunde (FCCA) 6 Homestead Lane, Buckingham MK18 2RU** ## **Watling Valley Ecumenical Partnership ANNUAL REPORT AND ACCOUNTS OF WATLING VALLEY FOR THE YEAR ENDED 31[st] DECEMBER 2023** ## **Objectives and Activities** Watling Valley Ecumenical Council has the responsibility of promoting in the partnership, the whole mission of the Church, pastoral, evangelistic, social, and ecumenical. It also has the responsibility for maintaining the church buildings. Shortly before his death, Jesus prayed that his disciples might be one as he and God were one. We take that prayer and call very seriously, and our vision is that we should be ‘a united body of Christians, living with love, giving in grace and moving for mission’. ## **Achievements and Performance** ## **Church attendance** There were 265 church members, with average weekly attendance counted during October, as 150 adults plus 29 children. Rising to 358 for Christmas Eve and Christmas Day Services. From the Registers: |**YEAR**|**Baptisms**|**Thanksgiv**
**ings**|**Weddings**|**Blessings**|**Funerals**|**Interment**
**s**| |---|---|---|---|---|---|---| |2023|19|0|6|1|23|13| ## **Watling Valley Ecumenical Council** WVEC met six times during the year via Zoom, with an average attendance of 15. 4/15 Work has continued with the necessary policies and procedures required for us to become a Charitable Incorporated Organisation. We also called a Partnership Meeting to elect trustees. It was rather disappointing that we weren’t quorate the first time and had to call another meeting the following week. It gave us an opportunity to hold another Partnership service and it was wonderful to see so many people attend the service or come along for the meeting. Five Trustees were elected, and the PCC met the following week to nominate additional Trustees. There will be an opportunity for others to join the Trustee Board so please do think about this role and the skills you may have to offer. Further information will follow before our AGM. The Trustees will hold their first meeting on 24th April and the CIO will become the Governing board of the Partnership. Thank you all for your support and patience in what has been a rather long process. Our thanks also to all those involved in producing our policies and procedures and to those who have agreed to become Trustees. **Mission, Outreach and Fund Raising -** , living with love, giving in grace and moving for mission’. Our regular services have continued throughout the year, and we have enjoyed coming together for our Partnership services not only when there are five Sundays in the month, but also for specific festivals. We have also continued to be more visible to our local communities, gathering outside for Remembrance Services, Muddy Church Christmas Carols and more. We continue to offer weekly Night Prayer and the number taking part has grown over the last year. This makes such a difference in so many ways, different styles, different voices, and less demand on people. Once again there are regular visits to our local care homes. Simple services are very much appreciated by all. Christmas proved to be a special time for them, singing familiar Christmas Carols and making Christingles. Hot Potatoes Youth Group have grown in numbers this year. They have discussed various important topics, formed friendships, and supported one another. They held another 24 Hours of Madness where they baked cakes and bread throughout the night, selling the goods for charity on the Saturday. They had great fun and most managed to stay awake for the whole 24 hours (including the adults!). It was delightful to see some young ones interacting with people passing by Servant King, telling them what they were doing etc. This proved to be a success, involving the local community, selling cakes and also receiving donations from several people. Muddy Church continues to be a success. On Shrove Tuesday Muddy Church was hosted at Servant King and involved the 50+ group (now renamed Café Connect). Little Rascals Pre-school joined in and people of all ages came together to take part in various activities – and, of course, there were pancakes! One of the talking points was the baptismal pool at Servant King. It was full and ready for a baptism the following day. Young and old came in to ask questions and so it was an opportunity to talk about baptism. A huge thank you to Ruth and her team for putting these sessions together. Please do come along and support Muddy Church – it’s not always muddy and there’s something for all ages. Safeguarding – Vivian (our Parish Safeguarding Officer) has continued to work closely with our local Safeguarding coordinators to ensure all relevant DBS checks are made and all training is up to date. For the first time in many years there were two reported incidents relating to Safeguarding in our Partnership. Both incidents have been reported to the relevant authorities and all necessary procedures have been followed. It was a reminder that we must all continue to be vigilant and the importance of record keeping and reporting concerns to the relevant people. It has also been recommended that CLT members all complete the Basic and Foundation Safeguarding Training. Your local Safeguarding Co-ordinator will be sending CLT 5/15 members the link to the online training. Across the Partnership we have continued to offer Warm Spaces, supported by the local Parish Councils. One church has also been used as a Winter Night Shelter throughout the winter months. ## **Financial Review** Across the partnership, Planned Giving through the Parish Giving Scheme and Standing Orders held steady throughout the year. We are immensely grateful for the overwhelming generosity which resulted in substantial Ad Hoc Giving. Fees from Weddings and Funerals is now lower than pre-Covid levels, due in large part, to the decrease in the number of Weddings held in church. Fund Raising consisted of Summer Fetes, Christmas Fetes, and Concerts, with Bucks Historic Ride and Stride. Only essential expenditure was agreed in 2023 however the escalating costs of roof repairs at St. Giles necessitated a rapid huge Fundraising campaign. Otherwise, Expenses remained at a similar level to 2022. The WV Share was £157,732.80. This provides for the running expenses of both the Partnership and Partnership Office, the stipends and housing for our Ministers, contributions to the running costs of all four denominations and Churches Together in Milton Keynes. The net result for the year was an excess of payments over receipts (a loss) of £15,460.93. The balance carried forward as at 31st December for unrestricted funds totalled £123,305.86. ## **Reserves policy** It is good practice to maintain a balance on unrestricted funds (if possible), which equates to approximately six months unrestricted payments, about £124,000 to cover emergency situations that may arise from time to time. The balance of £123,305 across the Partnership is encouraging. However, due to considerable hardship at two of the churches, WVEC agreed that their Share be reduced considerably in 2024. So, the central WVEC Accounts will need to source Funds of nearly £50,000 to breakeven in 2024. ## **INDEPENDENT EXAMINER’S REPORT TO THE ECUMENICAL COUNCIL OF WATLING VALLEY ECUMENICAL PARTNERSHIP** I report on the accounts of Watling Valley Ecumenical Partnership for the year ended 31[st] December 2023, which are set out on pages 7 to 12. ## **Respective responsibilities of the Ecumenical Council and the Examiner** As members of the Council, you are responsible for the preparation of the financial statements. You consider that an audit is not required for this year under the Church Regulations and section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an Independent Examination is needed. It is my responsibility to: 6/15 - examine the accounts under section 145 of the 2011 Act; - to follow the procedures laid down in the general directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and - to state whether particular matters have come to my attention. ## **Basis of Independent Examiner’s Report** My examination was carried out in accordance with the general directions given by the Charity Commission and to be found in the Church Guidance 2006. An examination includes a review of the accounting records kept by the partnership and a comparison of the accounts prepared with these records. It also includes consideration of any unusual items or disclosure in the financial statements, and seeking explanations from the Ecumenical Council concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. ## **Independent Examiner’s Statement** In connection with my examination, no matter has come to my attention: - 1 which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the 2011 Act; and - to prepare accounts which accord with the accounting records and to comply with the - requirements of the 2011 Act, and the Church Regulations have not been met, or - 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. - ……………………………… Mr Olufemi Oyetunde (FCCA) Nathan Grace Ltd 6 Homestead Lane, Buckingham MK18 2RU 7/15 WATLINGVALLEY ECuMEN1￿L PARTNERSHIP STAIEMEIITQFMPWKIALAcn¥inÉs FOA ThEVEIRENDED31 DECEMBER2D23 Unre5tticted Rp51rrt*d F￿1$ TthIFwé$2023 Fthid5 vDI￿laryft￿epts Receiktstrcffl (kffjrrfy 14annÈd Gwi It￿.570￿7 46.902J4 34.3B2.L2 189.95323 600ffj0 I￿.178￿7 31700S4 L265.00 34.$65.54 79.602BB 35.647.L2 224.518ts7 GrtI￿ P&c•r¥Rd 32￿￿. sNJ.00 L3fi0.00 L966.00 8.865.68 4551.1 7.4B5fi6 IDA52.12 IncomB ftorn ctAwchAE*wtse5 Foo5 4841. SO.4Qg.35 897.94 115729 0.00 L.03?.92 7.998Jg SO.4dg.35 1.535*6 IncomE ItDrn LtwJthktiwtie5 InbeSts￿ IncDrne 4J,422.74 4f 2,￿￿1 255.093.X> 40.64DAS 2%.734.LS X2.461.B4 MYMENrs Act￿t￿5dlreCty r*aiYrftottAM¥kc4thoEhJrch y￿Shar4 CtherPabwts 157.732MI 112.821A3 157.73180 17S.87S.74 Sc 6105421 87.701.91 270.55423 &3.05421 333.608.54 .15.46D.93 -21413A6 -37.874Jg L722.7S 21J6 s.iu.Li 13?.044.04 261.42222 396.46626 1,9U2 Re￿￿E5CaMEdI0￿Thrd 123.305A6 241430.12 365.735.98 137,Q44.01 STATEMEIITOFASSETSAMDLIAItITES FOA TrIEYEAAENDE031DECEMBER2ty23 0￿S Unrestrictèd RÈstrKted TrfalFwds2023 STATEMEIITOFASsETS•J4DLk￿lrrIES BartCLvrentAccoun 66.614S9 49.19).71 58.074*9 18435523 126.669.76 2&54SSa iiyj 24SJ02A2 Bar*DwrtA(You4 117.805. 242.430.L2 360.235.72 .99S.ll 13.165.77 -7.665.51 OJ) 13.165.77 -7.665 51 4.7¥4.70 CurreMLI*kniEs 4.WdS 21 IOIALNET ASSETS 123.305 86 2a2.￿0 12 365.735 98 8.4￿ 26 ojjo 241W.12 24UI0.12 B[DU￿tc1j P￿Ly￿ara(￿ry*nt 137.044.04 1.722.75 .15.460.93 123.305A6 137.044.04 1.72175 -IS.460J3 123.30526 0.00 137.044.01 TOT*IFul￿ 123.305A6 242.430.12 365.73598 ,At6.26 ThE Notesthat(UlknwlDrmp￿Ql￿?￿aCGoUrnl. 8115 ## **Watling Valley Ecumenical Partnership** # **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of accounting** The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP FRSSE 2015. The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which WVEP is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. ## **Incoming Resources** Planned Giving, collections and donations are recognised when received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Wedding and Funeral Fees are recognised after the service has taken place. Unrealised gains or losses on investments are accounted for on revaluation at 31st December each year. ## **Unrestricted Funds** These are general funds which can be used for CC ordinary purposes. ## **Designated funds** These comprise monies set aside by the CC out of unrestricted funds for specific future purposes. ## **Resources expended** Resources expended are accounted for on an accruals basis. ## **2. ENDOWMENT FUNDS** ## **Permanent endowment** The permanent endowment fund in St. Mary's Trust, comprises various bequests which permit the income to be spent on the general running of the church. The capital is to be retained in the fund. The permanent endowment fund in St. Giles, comprises bequests from Hetty Watts and Bob Winstanley, which permits the income to be spent on the general running of the church. The capital is to be retained in the fund. ## **Expendable endowment** The expendable endowment fund in St. Mary's comprises the proceeds from the sale of land in Osier Lane in 1985, the income from which is unrestricted. The capital is available for church improvements or building work. 9/15 ## **3. REMUNERATION** None of the Council Members have been paid any remuneration or received any other benefits from an employment with the Church, or a related entity, and the Council Members have claimed no expenses for the performance of their duties. There have been no related party transactions during the year that require disclosure. A fee has been paid to the independent examiner. There is one paid employee, the Watling Valley Administrator. 10/15 lthi•%irlci•d R•str*t•d Tota1202J Toia12022 RECEIPTS Voluniary Receipts 4a Planned Gfvln8 Tax Efficient Flanned Giving Other Pianne(J Giving 102.119 6,460 108,579 600 102.719 6.460 600 109.179 102.243 5,279 107.522 4b Other ¥oiuntary recelpls ugh Patke Charity Energy Grant Abbey HiiLParish CwncilforThe Fijod Pantry 1,265 201 1.265 201 4,551 500 500 500 1.966 1,466 4,551 4c A¢tfr41tles lor ¢ener*ln¢fvnds &Jmmei Fete 2,429 2,352 2.429 2.352 1.581 1,485 1.215 Christmas Tree Festival Rainbow Pharmacy ICrNid Supportl Christmas Family Fun Ho￿daY Club Concerts Car Boot Sale 1,075 1.075 1.028 1.102 589 1,028 352 750 QUYL Nighl Easy Fundiaising Bucks Historic Bike Ride 474 141 141 130 130 131 Harvest Sale 20 7,486 20 8.866 75 1.380 5,465 4d Incoffle from Clwrch Act￿￿eS Fees Weddingand Banns Fee5 Funeral, Intemients and Monument Fees jubilee Graveyard Fees 1,003 1,993 1.845 4.841 1.003 5.150 1.845 7.99B 8.214 470 3,157 3.157 4e Income from C￿reh Acti￿lIeS Hlre Regular Bookings Ad Hoc Bo0￿"ne5 46.141 4,308 50,449 46.141 4,308 50.449 38,386 3,154 41,540 Tot•12012 4f Investmènt In¢ome Bank Interest 253 1,151 785 1.936 2.586 -1.109 1,477 Revaluation of Fund5 785 1.038 11115 5 PAYMENTS Activilies directlyrelaiingio ihe I￿rk of Ihe church 5a WV Share Anglican Bapii Methodist Uniled Reformed Churches Together in Miiion Keyne5 103.023 1,670 49,920 1.500 1,620 157,733 103.023 1,670 49,920 i.soo 1.620 0 157.733 102.871 1.621 42,072 1.500 1,596 149,660 5b Other Payments 2040 Gr05s Pay 2042 Pension 11.530 11.530 10.557 317 2200 orrice Renl 1,440 2.665 239 186 1,125 1.192 300 389 2210 Software 2.186 133 2.186 133 2220 Child & Data Protection 2230 PO￿age and Camage 2240 Telephone 2250 Printing. Plcopier. Stat 2270 SL Manin's Heane(Jge 2280 Catering Supp￿es 229) Cleaning and Toilet Supplies 2295 Contract Cleaning and Caretaking 2300 Ministers, Mileage. Telephone, Technol 2350 Worship 2355 Christian GI￿ng 2360 Musicians Fees & Equip 2370 Eleci¥ic 2375 Gas 2380 Water 2￿ Legaland professicfflalfees 24￿ Insurance Costs 2404 Youth Work 1,309 726 1.309 726 300 9,575 2.338 8.551 6.814 2.280 480 6.081 6,953 15.551 927 300 311 9,264 2,338 8.551 6,814 2.280 581 10.680 6.448 3,135 557 5,893 6,953 15,551 927 5.065 4,275 9,692 3.718 22 3,554 11,133 547 3.554 11,133 1.365 65.840 5,698 5.249 11,137 367 818 2500 Major Building 2750 Annual SeNices & Contracts 28CIJ Minor Repairs & Mainienance 2805 Christ the SowerlCtSI 2900 Bank Charges PriorYearAdjustmentand Translers 20.550 3,925 5,222 45.290 1,773 27 11.752 3.101 7,968 480 301 301 5.695 5.695 63.055 175.876 314 112.821 97.702 12115 UNestrt¢￿ R•stwhXqd Tota12023 Tota12tr22 Sc 2SOO Major Bulldl Holy Cross Ail Sainls, Sl. Matys Servani King St. Glles 6.698 6.797 1,398 5,657 6,69B 6,797 5,598 7,957 38,79) 65,840 1.416 4.200 2.300 38,790 45,290 10.336 20,550 11,752 Other MonetaryAs5ets Debtors Hall Hirers G￿t￿(l Receivable 7.591 5.575 13.166 2.215 2,579 4,794 Currem Uabllllles Invoices unpaid atyear end Hire Deposits Wedding Deposlts 6.265 600 3.219 250 800 7.665 1,454 4,923 8 RESTRICTED FUNDS These Funds represent aceumulaied Fees and AppeALs, whlch can only be spent lor thai puwose. FUND Bal 810 Aecelpts PayTh*nts Transfer eal CIF 5010 Bob ￿nSlan1eY Memorial Fund 5015 Bulldin8lReorderin8lRooflLoan 5020 Churchyard Fund 5025 Communityimission and Outiexh 5030 Communitylmission and OutrexhTattenhoÈ Pk 5035 Designated Funds- Bells 5040 Organ Fund 5042 Muslc Fund 153.226 -74 153.152 61.952 21.200 -38,7W) -7(KJ -4,960 39,402 3,Tr38 3,856 313 2.635 313 -157 -112 12.438 71 12,413 1,499 1.300 530 1,412 -977 352 -187 5045 Donation Fund 5050 Hetty Watts Endowment F￿￿ 5055 Equipment Fund 51W Food Paniryovtreach 5 Mlnisier's Dlscièiionary Fund 5070 Mini51ry Fund 5075 St*clal Reserve 5080 Vol¢es 3.025 3,025 160 140 3.322 loo 400 2.922 loo 6.937 500 8.636 500 -2.300 245 245 5085 Youth Mlnistry Hollday Club 509) Youth Mlnistrylti)ddler Fsjnd 1.646 1.029 418 1.857 9.442 261,422 9.442 242,430 30,599 4,045 .5,546 13115 t x 8 1 14115 818 * ? 8 8 8 *88888 8 15115