# **STANTONBURY ECUMENICAL PARTNERSHIP (A Charitable Incorporated Organisation)** **TRUSTEES REPORT AND FINANCIAL STATEMENTS** **FOR THE PERIOD JANUARY 2023 – DECEMBER 2023** **Charity No: 1200563** ## **STANTONBURY ECUMENICAL PARTNERSHIP** **FOR THE PERIOD JANUARY 2023 – DECEMBER 2023** ## **CONTENTS** ## Pages |3-5|Report of the Trustees| |---|---| |6|Independent Financial Examiner’s Report to the Trustees| |7|Statement of Financial Activities| |8|Balance Sheet| |9 -13|Notes forming part of the Financial Statements| ## **Stantonbury Ecumenical Partnership** ## **Trustees Report and Financial Statements for the period 1[st] January 2023 – 31[st] December 2023** ## **Trustees:** Mr David Preston (Chair) Mrs Anne Slee (Secretary) Dr Adrian Prisk (Treasurer) Ms Diana Stammers (Safeguarding) Mr Stephen Fletcher Mr Michael Williamson (until August 2023) Revd Dr Paul Smith (Ex-officio) Revd Canon Chukwemeka Iwuagwu (Ex-officio) Revd Dr Samuel Muthuveloe (Ex-officio) Revd Nicola Martyn-Beck (Ex-officio until August 2023) Revd David Haseldine (Ex-officio from September 2023) Mrs Penelope Miller (PCC appointed) ## **Office address:** ## **Independent Examiner:** Christ Church Stantonbury JVCA Accountants Purbeck 114 High St Stantonbury Campus Cranfield Milton Keynes Bedford MKI4 6GU MK43 0DG **Principal Bankers:** CAF Bank Ltd 25 Kings Hill Ave, Kings Hill, West Malling ME19 4JQ 3 The Trustees present their report together with the financial statements of the charity for the period from 1[st] January 2023 – 31[st] December 2023. The trustees are listed above. The Stantonbury Ecumenical Partnership was registered as a CIO (Charitable Incorporated Organisation) in October 2022. The financial processes for the new charity started with effect from January 1[st] 2023 ## **Purposes and Public Benefit** Following the establishment of the CIO, the purposes of the charity and its associated public benefit are now as articulated below: To advance the Christian faith by drawing together the congregations in the Partnership to further the “Five Marks of Mission” which have been adopted by the Forum of Churches Together in England and any other purposes which are charitable in law to the benefit of those living within the Partnership area and to support the wider mission in Milton Keynes and beyond. The “Five Marks of Mission” are expressed as: 1. To proclaim the good news of the Kingdom AGM. All trustees are required to have full DBS checks with appropriate safeguarding training. All trustees have been alerted to advice on the Charity Commission website regarding their roles. Recruitment procedures are in line with Charity Commission recommendations. ## **Review of the activities and future developments** In 2023, the six congregations in the Partnership continued to provide worship throughout the year. Some progress has been made in arranging services for the entire Partnership, but this is still to be developed fully. The Congregational Leadership Teams have taken up their new roles and are working well. There have been two vacancies in the Ministerial Team throughout 2023, one Anglican and one Baptist. It has proved quite challenging to fill these posts. The vacancies have also put extra pressure on the lay ministers within the Partnership and we are grateful for the time and energy that all have contributed to leading worship. 2. To teach, baptise and nurture new believers 3. To respond to human need by loving service 4. To seek to transform unjust structures of society 5. To strive to safeguard the integrity of creation and to sustain the life of the earth. These objectives generate public benefit through: - Providing places of worship for regular worship and to conduct baptisms, weddings, funerals and other offices as required. - Offering the opportunity for people to engage with and respond to the Christian faith. - Raising awareness and understanding of religious benefits and practices, thus advancing the religion. - Encouraging a direct, practical response to human need. - Encouraging a just society. - • Promoting care for the environment. Additionally, as an ecumenical body, the charity is intrinsically concerned with the public benefits of reconciliation and the broad advancement of the Christian faith. Bradwell Church celebrated its 800[th] year anniversary in 2023. A full programme of events occurred throughout the year, including visiting preachers, a logo competition and art exhibition. At St Mary Magdalene, Willen a feasibility study has been undertaken for a Hooke Heritage Centre in the churchyard, celebrating the 17[th] century scientist and architect, Robert Hooke. The Green Champions have made a strong start this year in gathering together those who are committed to our environmental mission. Two congregations (St James and Christ Church) have now gained Eco Church Bronze awards. A Partnership-wide meeting was held in November to share ideas on Eco Church. The Green Champions are also now part of a wider MK Eco Church Network. Looking to 2024, the Partnership will be exploring what it means to be an Inclusive Church. More joint services are planned, including an outdoor service at the Tree Cathedral (which had to be cancelled due to be bad weather in 2023). The Mission, Evangelism and Discipleship is still to be established.. ## **Organisation** ## **Financial review** The charity is governed by trustees. Six are elected at the Annual General Meeting. Ministers in pastoral charge of congregations serve ex-officio. There is provision for appointment of a trustee by the PCC and other equivalent denominational bodies. The wider membership is made up from the members of the six congregations in the partnership. Trustee vacancies are advertised, with a closing date for written applications which require all pertinent information and a nominator. Elections are held at the The current finances of the Partnership are reviewed at each trustees meeting. The accounts of the individual congregations are monitored by the church treasurers and concerns are passed to the trustees through the Partnership treasurer. The annual accounts of all the congregations are consolidated with the Partnership accounts for inspection and presentation at the AGM. ## **Salary policy** Anglican clergy are employed by the Oxford Diocese. 4 Methodist clergy are employed through the Milton Keynes Methodist Circuit. Baptist ministers are employed by the partnership. Parity is maintained between the Baptist and Anglian stipends. Employee pension contributions as well as employer contributions are paid in addition to the gross salary. There are no other employees currently. The Partnership follows the guidance of the National Living Wage foundation. ## **Investment powers** The trustees have the power to make any investment they see fit in the same manner and subject to the same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000. ## **Related parties** ## Accepted Accounting Practice). The law applicable to charities in England and Wales requires 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 of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; following the methods and principles in the Charities SOFA, make judgments and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. There were no related parties in the period covered by this report ## **Reserves policy and risk management** The Partnership maintains reserves of at least two months regular expenditure. ## **Statement of Trustees responsibilities** The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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 taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Signed David Preston Adrian Prisk David Preston – Chair of Trustees Adrian Prisk – Treasurer Date 17[th] Oct 2024 5 **INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF STANTONBURY ECUMENICAL PARTNERSHIP** ## **YEAR ENDED 31 DECEMBER 2023** I report to the Trustees on my examination of the financial statements of Stantonbury Ecumenical Partnerhsip (the charity) for the year ended 31 December 2023. ## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER** As the charity’s trustees of the Charity Incorporated Organisation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 („the Act“) I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act ## **INDEPENDENT EXAMINER'S STATEMENT** The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or • the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Coral Tolley-Fletcher, Association of Chartered Certified Accountants Independent Examiner 114 High Street Cranfield Bedfordshire MK43 0DG Dated.......17th October 2024 **----- Start of picture text -----**
Stantonbury Ecumenical Partnership - (CIO 1200563)
Statement of Financial Affairs (SOFA) December 2023
Notes Total Total Total Total Funds Total Funds
Unrestricted Restricted Endowment 2023 2022
(Pre - CIO)
£ £ £ £ £
Income
Donations and legacies 2 205,402 19,831 225,233 220,727
Income from charitable activities: 3 10,912 6,106 17,018 15,806
Income from trading activities 4 22,322 1,115 23,437 11,940
Grants 5 4,832 25,715 30,547 12,225
Income from investments 6 1,081 112 1,193 858
Other Income 7 1,167 1,167 7,932
Total income 245,716 52,879 298,595 269,487
Expenditure
Cost of fundraising 8 578 2,583 3,161 604
Donations to charity and mission 9 7,762 1,455 9,217 10,022
Ministry costs and expenses 10 117,672 117,672 147,196
Running Costs 11 59,597 7,522 67,119 80,580
Major building repairs 12 17,771 33,112 50,883 54,198
Other costs 13 11,164 16,525 27,689 4,208
Total expenditure 214,544 61,197 - 275,741 296,808
Increase (Decrease) in investment value 2,414
Net income/expenditure and net movements in funds for t 31,172 (8,318) 2,414 22,854 (27,320)
Reconciliation of Funds
Transfers and corrections 694 (374) (48)
Fund balance introduced from individuals of the
partnership at 01.01.23 50,630 63,638 25,662 139,930 167,299
Fund balance Carried forward at 31.12.23 82,496 54,946 28,076 165,517 139,930
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|Signed|| |---|---| |David Preston|Adrian Prisk| |David Preston – Chair of Trustees|
Adrian Prisk – Treasurer Date 17thOct 2024| 7 **----- Start of picture text -----**
Stantonbury Ecumenical Partnership (CIO - 1200563)
Balance Sheet Dec 2023
31/12/2023 31/12/2022
Notes
Debtors 15 9,814 5,543
Gift Aid Accrual 12,458 653
Bank Current Accounts 101,339 83,669
Bank Deposit Accounts 18,780 25,071
Cash 489 891
Endowments 28,076 25,662
Creditors 15 (5,440) (1,250)
Adjustments (310)
Total 165,517 139,930
Funds
Unrestricted Restricted Endowment
Bradwell 9,943 8,531 28,076 46,551 46,553
Christ Church 13,047 2,173 15,220 13,452
Cross & Stable 9,596 3,272 12,868 13,699
St James 7,288 11,863 19,150 22,794
St Andrew's 6,684 21,500 28,185 26,251
St MM Willen 9,657 6,180 15,837 11,677
SEP 26,281 1,425 27,706 5,505
Total 82,496 54,945 28,076 165,517 139,930
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|Signed|| |---|---| |David Preston|Adrian Prisk| |David Preston – Chair of Trustees|
Adrian Prisk – Treasurer Date 17thOct 2024| 8 ## **Notes to the Accounts** ## **1. Accounting Policies** ## (a) **Basis of preparation and assessment of going concern** The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. This is the first year of adoption of FRS 102 and also the first accounting year as a registered charity (CIO). Section 35 requests that comparative data be shown from the previous accounting period before the adoption of FRS 102 The charity’s finances had a similar structure prior to registration, so comparative data has been included for the 2022 accounting year The trust constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the Partnership’s ability to continue as a going concern. The most significant area of risk concerns the contributions from each of the congregations to the general funding. These have shown significant decline in recent years, a process accelerated by the coronavirus pandemic. As these contributions are used to pay the stipends of the ministerial team, there has been a reluctance to increase donations while there have been two significant long-term vacancies. These have now been filled and it is hoped that that will increase the overall income going forward. ## (b) **Funds structure** Each congregation has its own bank account(s). Most have their own treasurers. Decisions regarding income and expenditure are delegated by the trustees to the congregational leadership teams (CLT). Each congregation makes a contribution towards the Partnership budget based on the affordability from its own resources. Towards the end of each year, the denominations publish their budgeted requests for the following year. These are based on the salary calculations for the ministers working in the partnership with additional per capita membership costs to cover additional denominational expenditure. Baptist ministers are appointed to an office in the Partnership which is responsible for the stipend, pensions and housing and the associated payroll tasks including PAYE and National Insurance. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose. ## (c) **Income recognition** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity. 9 Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio. ## **(d) Expenditure recognition** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. ## (e) **Allocation of governance costs** Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs. ## (f) **Costs of raising funds** The costs of generating funds consist of costs and expenses of staging events including publicity, venue hire, insurance etc. ## (g) **Tangible fixed assets and depreciation** All assets costing more than £1000 are capitalised and valued at historical cost. Depreciation is charged on furniture and equipment on a straight-line basis over their estimated useful life of six years from the year of acquisition. ## (h) **Fixed asset investments** Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. ## (i) **Pensions** Baptist ministers are members of the Baptist Pension scheme. Before 2008 this was a defined benefit scheme. After this date members were transferred to a defined contribution scheme. For many years this scheme was in deficit and members and employers were required to pay additional contributions to remedy this. If a cessation event had occurred, the Partnership would have been liable for a share of the outstanding debt. This debt gradually reduced and was completely eliminated when the scheme was taken over by a third-party provider. Registration as a CIO and the retirement of the last incumbent minister created a cessation event, but this was after the debt had been cancelled. The Partnership has withdrawn from the scheme, so there will be no future liabilities. Other employees will be subject to the rules of Auto Enrolment and will either be entered into a suitable scheme or join one on a voluntary basis depending on income thresholds. 10 **----- Start of picture text -----**
2.Donations and Legacies Unrestricted Restricted 2023 2022
Planned giving:
Gift Aided 109,699.30 3,286.62 112,985.92 108,688.24
Income tax recoverable on Donations 43,965.85 348.43 44,314.28 38,288.74
Not Gift Aided 12,059.26 12,059.26 11,835.34
Collections (open plate and card) 25,687.34 575.67 26,263.01 25,034.80
Gift Days 645.65 645.65 17,977.66
Small Donations 1,981.77 522.87 2,504.64 7,897.23
Donations, appeals etc. 8,975.90 15,097.42 24,073.32 7,165.90
Refreshments and Flowers 2,387.30 2,387.30 3,838.98
Legacies and Memorials 0.00
205,402.37 19,831.01 225,233.38 220,726.89
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The tax recoverable on Gift Aided donations contains an accrual for Q4 and has 5 quarters of claims compared to the 4 quarters in 2022. **----- Start of picture text -----**
3.Income from Charitable activities
Fetes, bazaars, other fund-raising events 3,307.65 6,105.65 9,413.30 6,701.94
Fees - Weddings/Funerals 7,604.00 255.00 7,859.00 9,104.00
10,911.65 6,360.65 17,272.30 15,805.94
4.Income from trading activities
Church letting 18,009.75 18,009.75 11,789.00
Chapel letting 1,642.46 1,642.46 151.00
Other Fees 2,670.11 860.00 3,530.11 638.94
22,322.32 860.00 23,182.32 12,578.94
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Most of the income comes from lettings at Christ Church and Bradwell Chapel. **----- Start of picture text -----**
5.Grants
St MM Willen Hooke project 18,425.00 18,425.00
Other 4,832.00 7,289.60 12,121.60 12,224.80
4,832.00 25,714.60 30,546.60 12,224.80
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Grants for the Hooke project came from the Heritage Lottery fund, MK City Council, the Oxford Diocese and the Society of the Sacred Mission. |and the Society of the Sacred Mission.|and the Society of the Sacred Mission.|and the Society of the Sacred Mission.|and the Society of the Sacred Mission.||||||| |---|---|---|---|---|---|---|---|---|---| |**_6.Income from investments_**||||767.41
199.07
114.93||111.64|767.41
199.07
226.57||| |Dividends|||||||||763.18| |Interest on CBF Accounts|||||||||29.00| |Interest from bank accounts|||||||||65.35| |||||1,081.41||111.64|1,193.05|857.53|| 11 **----- Start of picture text -----**
7.Other income
Insurance claims 1,166.87 0.00 1,166.87 7,293.19
1,166.87 0.00 1,166.87 7,293.19
TOTAL INCOMING RESOURCES 245,716.62 52,877.90 298,594.52 269,487.29
Unrestricted Restricted Total Total
2023 2022
8.Cost of fundraising
Costs of fetes, bazaars, other fund raising 577.74 2,583.22 3,160.96 604.00
577.74 2,583.22 3,160.96 604.00
9.Donations to charity and mission
Overseas MissiChurch Societies 600.00 693.75
Relief & development agenc 728.30 510.00 1,238.30 972.50
Home MissionsChurch Societies 0.00 524.00 524.00
Relief & development agenc 1,531.10 421.00 1,952.10 4,471.16
Other 4,902.41 4,902.41 3,884.25
7,761.81 1,455.00 8,616.81 10,021.66
10.Ministry Costs and Expenses
Parish Share (Denominations) 115,830.83 115,830.83 110,772.73
Baptist Minister Salary Costs 998.00 998.00 32,154.06
Clergy Expenses 1,251.39 1,251.39 1,931.90
Manse Costs (408.14) 2,337.10
117,672.08 0.00 117,672.08 147,195.79
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The Baptist Minister costs in 2022 included the stipend costs from January – October. No Baptist minister was employed in 2023. The £998 was the net cost of the legal fees for withdrawing from the Baptist Pension scheme. £(408.14) was a refund of Council tax. |**_11.Running Costs_**|**_11.Running Costs_**||13,800.65
27,459.02
2,525.50
8,345.30
3,499.54
996.11|||||| |---|---|---|---|---|---|---|---|---| |Insurance||||||13,800.65||13,842.82| |Utilities||||||27,459.02||14,427.54| |Churchyard upkeep||||||2,525.50||11,599.00| |Other Church running||eFlowers||25.70||8,371.00||8,929.00| |Worship||||5,005.29||8,504.83||3,298.31| |Equipment||||2,011.18||3,007.29||23,268.82| |Expenditure on church letting||||||||122.00| |Expenditure on church hall letting||||||||1,847.40| |Expenditure on other trading||||||||| 12 **----- Start of picture text -----**
Junior Church and Youth Club / Training 107.00 479.73 586.73 339.71
Administration:
Printing and stationery 527.58 527.58 656.27
Subscriptions 1,031.52 1,031.52 1,220.00
Bank charges 662.14 662.14 279.00
Safeguarding 642.00 642.00 750.00
59,596.36 7,521.90 67,118.26 80,579.87
12.Major building repairs
Repairs and Maintenance 16,586.43 25,568.26 42,154.69 52,411.94
Quinquennial Work 1,185.00 7,544.00 8,729.00 1,786.00
17,771.43 33,112.26 50,883.69 54,197.94
13.Other costs
St MM Willen Hooke Project 15,132.70 15,132.70
New Bradwell Community Centre 4,820.00 4,820.00
Sundry 6,344.33 1,392.00 7,736.33 4,208.47
11,164.33 16,524.70 27,689.03 4,208.47
TOTAL RESOURCES USED
214,543.75 61,197.08 275,140.83 296,807.73
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## **14.Increase in Investment Value** Bradwell Church has two investment funds – The increase in value was £2,414. Value on 31[st] December 2023 was £28,076 |**15,Debtors and Prepayments**|**15,Debtors and Prepayments**|| |---|---|---| |||| |**Bradwell**||| ||Expenses charged to SEP|736.79| |**Christ Church**||| ||Prepayment to CCLI|372.72| ||Unpaid invoicesQ4|3,800.00| |**Cross & Stable**||| ||Unbanked Collection|249.75| |**St MM Willen**||| ||Prepayment of Insurance|1,344.00| ||Prepayment of Electricity|1,800.00| |**SEP**||| ||Parish Share from St MM Willen|1,500.00| ||HMRC Gift Aid not accrued in the accounts|*1435.58| ||Interest receivable from HMRC|10.82| |||| |**Totals**||**9,814.08**| 13 **----- Start of picture text -----**
16.Accounts Payable
Christ Church
Payable to Opus (Gas) 362.73
Donations to Mission 900.00
Cross & Stable
Miscellaneous Expenses 207.00
St Andrew's
Overpaid fees refund 694.00
St MM Willen
Parish share payable from December 2023 1,500.00
SEP
Energy Grant carried forward from 2022 1,039.00
Bradwell Chapel 736.79
HMRC Gift Aid not accrued in the accounts *1435.58
Totals 5,439.52
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NB - £1,435.58 was not accrued for 2023 and will be included in 2024 accounts. 14