The Parish Church of St Marys, Watton (Diocese of Norwich) Vs z JiJ Financial Statements for the year ended 31st December 2024
Contents Trustees, Report page i-vi Receipts and Payments- summary page I Receipts and Summary- further analysis page 2-3 Analysis of Funds page 4 Notes to the accounts page 5-6 Independent Examiner's Report page 7-8 Treasurer: Andy Turner treasLJrer@stmaryswatton.org
The Parochial Church Council of St Mary's, Watton (Charity Registration No. 1203822) Trustees, Annual Report Administrative Information The Parish Church of Mary's. Watton I'st. Mary's'l is situated on Church Road, Watton IP25 6DQ. The Parish is part ofthe Deanery of Breckland and. in turn, the Archdeaconry of Lynn and the Diocese of Norwich in the Church of England. During the latter half of 2024, St. Mary's became part of a Benefice to include the parish church of Carbrooke. St. Peter and St. Paul. The Parochial Church Council of St. Mary's. Watton I'PCC'}. is responsible for the church buildings and extensions and forthe car park and green which it owns opposite the church, on Church Road. Aims and Purposes The PCC shared responsibilitywith its minister, Rev'd Dave Cossey. for promoting the whole mission ofst. Mary's- pastoral. evangelistic. social and ecumenical- within and beyond the Ecclesiastical Parish otwatton. Constitution and the 2011 Charities Act The PCC is constituted by and subjectto the PCC (Powers) Measure 1956. and the Church Representation Rules 2020 Ihttps:/ltinyurl.com/churchreprules20201 as well as secular legislation such as the Charities Act 2011 {'the 2011 Act'l. The PCC is a registered charity Ifrom July 2023) and there is a requirement to comply with charity law with the trustees having related. charitable responsibilities. The PCC, via the Hon. Treasurer, maintains accurate and transparent accounting records under Section 130 ofthe 2011 Act, the accounts are in full compliance with the 2011 Act and the Independent Examination ofthe tinancial statements is undertaken in accordance with. and follows directions made under, Section 145151 Ibl of the 2011 Act. Structure, Governance and Management The method of appointment of PCC members is set out in the Church Representation Rules. At St. Mary's. membership ofthe PCC consists ofthe incumbentlsl (the vicar-our minister), the two churchwardens, readersllicensed lay ministers, members of Deanery and Diocesan Synods and members who are elected by those members ofthe congregation who are on the electoral roll of the chufch. More detailed information can be found under'membership of the PCC,. All those who attend services of worship and members of the congregation are encourageo to register on the Electoral Roll and stand for election to the PCC. 118e
PCC members are responsible for making decisions on all matters of general concern 8nd importance to the parish. includingdeciding on how the funds ofthe PCC are to be spent. New members receive appropriate training and briefing into the workings of the PCC and associated responsibilities. This includes responsibilities and duties acting as a charity trustee. The PCC met monthly duringthe year (except August and December) in the church rooms andlor the church. The 2024 Annual Parochial Church Meeting I'APCM'I (covering the 2023 calendarlfinancial yearl was held at the church on Sunday. 28 April. Given its wide responsibilities, the PCC has a numberof sub-committees each dealingwith a particular aspect of parish life. These sub-committee5. which include Finance, Building Management. Worship. Mission and Outreach. are all responsible to the PCC and report back reguiarlywith notes oftheir decisions being received by the full PCC and discussed. as necessary. Membership of the PCC The PCC consists of ex-officio. elected and co-opted members. all ofwhom are Trustees. Mrs Margaret Catorserves the PCC as its Hon. Secretary. Ex-off iclo Members Rev'd Dave Cossey Mrs Linda Benton {Churchwarden) Mrstephen Bibby Ichurchwardenl Mr Mewyn Wilcox (Member of Diocesan Synod) Mrs Elaine Rodgers (Licensed Lay Minister I'LLM.)) Rev'd Dr Christina Mason (Permission to Off iciate I'PTO.)) Mrs Weiwei Cossey (Licensed Lay Minister) I'LLM.)) Elected Members Mrs Margaret Cator Mrs Janet Selvey Mr Michael Selvey Ivergerl Mr Paulweatherill Mrs Valerie Semlyen MrAndyTurner (Hon. Treasurer) Mrs Gill Smith Mrs Mirjamjohnson Mrs Eileen Kittell- from 28th April 2024 (APCM) Co-opted Members None age
Achievements and Performance Our minister. Rev'd Dave Cossey. has been in his role since January2023. Our Families Matter Keyworker {'FMKW'}. Caroline Tandy, remained in the role throughout the year. Every Monday morning Iduring schoolterm time}. Storybags. designed for babies and pre-school children and those who accompanythem. continued throughout the year. Messy Church took place during school holidays. Further, ourworkwith youth. children and families has continued with the valuable and enthusiastic support of volunteers. St. Mary's is also involved with supporting the (Thursday) weekly meetingof the Watton Families Group at The Charlotte Harvey Centre in Watton which is staffed by volunteers and where St. Mary's also supports the financial management of the group. In fact, much of thevitalwork that is undertaken at. and outside of, St. Mary's is enabled and supported byvolunteers. Whetherthat's opening and closingthe church, cleaning, welcoming, organisingfund raising events. after services tea and coffee and a diverse range of othei activities that may well be unseen by many but is recognised. nonetheless. As regards staffing, Lucy Davey (Church Administrator} remained the role throughoutthe year, as did our part-time cleaner, Gail Fish. The total number of staff on the church's payroll is three. We have maintained relationships with other organisations in ourcommunity, as well as local communitygroups. Watton Town Council and those of other faiths. A Polish church has continued throughout 2024 and uses the church buildings to hold theirtwice-weekly services ofworship {mass). and other events. A more detailed look at the church's many varied and diverse activities can be found in the 2024Annual Reports ofthe various groups which islare prepared for the APCM. Financial Review The basis of accounting adopted remains the'receipts and payments. method. The main headline. as it was in previous years. is one of continuinggenerosity and supportforthe work at St Mary's. Planned giving li l in 2024 rose to £46.19112023 £35.616) as a result of new regular givers joiningthe scheme. and others increasing their giving, followinga financial presentation and appeal in February. FMKW planned giving reduced slightlyto £3,49212023 £3.7891. A specific fund exists to support the cost of employment of our FMKW and this accumulated Irestrictedl fund stands at £6.950 (2023 £13.8461. Further details can be found under'Policies'. li.) seethe notes tothe 2024 accounts for a definition of planned giving Income from donations dipped to £21.93612023 £25,637) despite several'one off, incredibly generous gifts received duringthe year. No spending took place in 2024 from the Outreach Fund created in 2023.
Gift Aid continues to provide a signif icant proportion of the church's unrestricted income. This is claimed from H.M. Revenue & Customs everyfour months and includes the abilityto claim underthe Gift Aid Small Donations Scheme I'GASDS'I forcollections in services and donations made that are not captured under the gift aid scheme, as well as gift aid claimed on planned giving. £2,185 legacy income was received12023 £1.2001 although there were no grants in 202412023 £5,080). Fund raising at £9,48112023 £7,239) has also supported the church's income and is a key income generator. Income was also received from church and church rooms rental by several different organisations. On the topic offund ratsing, the hard work of. and dedication shown by. many volunteers from the'st. Mary's army'_ both trom within the PCC and the congregation- has resulted in the good level of funds generated in 2023 being maintained lindeed. increased) during 2024. There are a number of activities that contributed to that- another hugely successful summer cream tea event. regular quizzes, the ever-popular 200 Club (increased from a 150 Club in 20241, monthly cinema, smartie tubes (the collection of donations). Saturday Chat la monthly social coffee morning), a sponsored cycle ride, concerts, Easter and Christmas fayres, tabletop sale(sl and funds generated from shop sales. None of this would be possible without the unswerving level of supportwe get from ourvolunteers. The single largest item of expenditure was the Diocesan (Parish) Share. an amount requested by the Diocese of Norwich to coverthe cost of a stipendiary minister (salary. pension. housing. training) in addition to a proportion to support costs ofthe diocese. This is also known as an'allocation.. In 2024. a total of £64.911 was paid 12023 £56.5001 plus a further £2.671 claimed online i.e. a grand total of £67,582 against an allocation of £67.582. This equates to 1000/0 of the 2024 allocation12023 890h. 2022 850/0, 2021 100 % l. The PCC is delighted that St. Mary's was able to meet its allocation in full for the first time in three years, since 2021. A small percentage ofthe PCC'S overall income was given to local and global causes, in addition to other collections and fund raising which are detailed in the accounts. In 2024, as in 2023 and 2022. the PCC showed a surplus of income over expenditure. Details can be seen in the accountant-produced financial reports. Please also see further comments under'Post Year End Events. Liabilities and Plans,. The PCC also benefits from the Church Lands Charity (Registered Charity No. 25777911'the charity'}, which was established in 1870 to support the maintenance of the church fabric at St Mary's. The accounts ofthe charity are prepared separately to the church's accounts and the annual income and expenditure reported to H.M. Charity Commission. In 2024, the charity paid a total of £2.706 12023 £3.1471 for the church's buildings insurance (via Ecclesiasticall. Further, a total of £1,61412023 £nil) was funded by the charityto cover key church repairs under the September 2023 quinquennial inspection. Please also see further
comments under'Post Year End Events. Liabilities and Plans,. Importantly, an annual surplus of income over expenditure relatingto the charity in any year continues to be accumulated into a fund for the extraordinary repair, or improvement, ofthe church. Currently. this fund totals £55,37512023 £45.3531. The PCC took a significant loan lapprox. £213.0001 from the charity in 2011 in SUPPOrt of the re-ordering of the church with the terms of this loan requiring repayment at £10,000 per annum. To date, a total of £55,000 has been repaid up to and including 2019, but with no repayments made since then. Following a meeting of the charity's trustees in March 2022, it was agreed that a remaining liability of £158,000 is acknowledged as outstanding but there should be no fixed repayment scheme implemented. Instead, the trustees will meet each year to decide if a repayment can be made and, if so. and the amount to be repaid. Given the church's cashflow situation. it's considered repayment of this loan continues to be unlikely, either in full or in part. in the shortterm. No repayments were made in 2024. The liability remains at £158.000. Policies Financi81 Reserves and Legacy policies were approved by the PCC in October 2021 and are subject to annual review. There were no changes to these during 2024. It is a PCC policyto maintain a balance on unrestricted funds which equates to a minimum of three months, unrestiicted expenditure. This is equivalentto approx. £23.750 Ibased upori annual costs of c£95.000). It is held to smooth out cashflow fluctuations and to meet emergencyfunding needs. This policy remains comfortably met atthe year end. as it was in 2023. It is the PCC'S aim to maintain this fund from la.) a surplus of income over expenditure, Ib.) continued successf ul fund raising, and {c.I legacies received. These funds are held on an interest-bearing accountwith the CCLA Church ot England Deposit Funds, with a working balance maintained on the Barclays Bank current account. Additionally. the PCC maintains a range of restricted funds. These funds are also held on an interest-bearing accountwith the CCLA Church of England Deposit Funds, with working balances maintained on the Barclays Bank current account. Funds are used onlyforthe specific purposels) forwhich they are intended and are quite separate from general lunrestricted} funds. These total approx. £16,625. The largest of these is the FMKWfund, which is described earlier. Sadly. because of dwindling funds. the PCC made a decision duringthe yearthat it could no longer fund the FMKW role and. followingextensive consultation and with technic81 guidance from the Diocese of Norwich, made the decision to make Caroline's role redundant as ofjanuary 2025 with an appropriate notice period. Caroline will leave her role on 22" January.
Post Year End Events, Liabilities and Plans A 2025 budget was approved bythe PCC in Novemberwhich shows a deficit of income overexpenditure of approx. £20.000. principally based upon a projected Ireducedl sum for planned giving. donations and fund-raising and increased costs. predominantly parish share and energy related expenditure. This needs to be balanced against the 2024 forecast of a deficit of income over expenditure of approx. £25.000, but with an actual surplus of c£13.000. It's considered that St. Mary's will. once again, need to considerways of boosting giving and generating otherforms of income during 2025 and beyond if it's to be able to meet its projected costs. incl. Diocesan (Parish) Share. in full year-on-year. An issue land potential PCC liability) was reported in 2024 land 2023) with a grant received from Norfolk County CoLtncil I'NCC'I in May 2020 of £2,488. The PCC is pleased to be able to report that this was resolved during the year and no liabilityto NCC remains. There were no financial consequences resulting from this. A quinquennial inspection took place in September 2023 and this report has generated a significant list of suggested works to be undertaken. These are broken down into urgent (requiring immediate attention) {'Priority A'l. those requiring attention within twelve months I'Priority B'l and those of a lesser priority. The estimated total for Priorities A and B is between £23-33,000. The PCC will continue to address the need to carry out work identified bythis report throughout 2025. as it did during 2024, and considering both what needs to be done. and howwhat remedialwork is contracted will be funded. Some workwas undertaken during 2024, funded by Church Lands Charity. AndyTurner Hon. Treasurer 31" January 2025
Sl Mary's Watton Flnanclal ststements for 2024 Recelpts and Payments Summary (l) Receipts Restricted Total 2023 vo1urry receipts 91.630.00 8.817.40 l(K),447.40 90.963.48 Church Activltie5 1.973.50 1.973.50 1,942.42 Artivltie5 tor Generating Fund5 12.649.16 12,649.16 9,103.91 Investment Income 2.001.33 2.001.33 1.207.80 Other Income 4.626.70 4,626.70 8.496.70 Total receipts 112WO.69 817A0 121.698.09 111,714.31 Payments Unrestrlcted Total 2023 chUh Activities 96,796.44 13.763.70 110,560.14 101,353.10 Cost of generating funds 1.796.10 1.796.10 1,762.30 Govèrnante costs 1.081.34 1,081.34 1.067.42 Transfèr between funds Loss on dlsposal of Investments Total expendlture 99.673.88 13.763.70 113,437.58 104,182.82 Surplusl Ideficitl for year I3.2061 14.946.301 8.260.SI 7.531.49 Cash in bank & in hand- 01 Jan 30.798.24 27.072.03 57.870.27 50,338.78 Cash in bank & In hand- 31 Dec 44AK15.05 22.125.73 66,130.78 57,870.27 Represented by: Cash in hand 8arclays Bank, current accovnt121 CBF Deposlt accovnt I I'working'l CBF Deposit account 21'Projects'l Unre5tri¢ted 120.00 Re5trirted Totsl 2023 120.(K) 27.410.45 26,600.33 12,CM)O.t)o 66,130.78 176.58 21,038.92 24,654.77 12,000.00 57.870.27 17.284.72 26.fAIO.33 10.125.73 12,000.00 22,125.73 44.(rfJ5.05 Page I
St Mary's Watton Financial statements for 2024 Further Analysls of Receipts and Payments Receipts Unrestrirted Restrirted Total 2023 Voluntary receipts Planned giving121 Collections at SeiceS13) Donations141 Bequests Other Gift Aid tax recovery 91.630.00 67.349.84 4,874.93 2,969.45 ,817.40 8,817.40 100,447.40 76,167.24 4,874.93 2.969.45 90.963.48 63,972.70 6,170.83 3.464.51 16.435.78 16,435.78 17,355.44 Church Activities Fees for Occasional Offices Coffee / tea 1.973.50 1,828. 145.50 1.973.50 1.828 00 145.50 1.942.42 1,729.00 213.42 Artlvitles for Generatlng Funds Fundraising events 150 Club Cinema/Concert5 Smartie tubes Sponsor events Premises hire Shop I produce 12.649.16 5,915.38 2.4(K).¢)O 745.00 37.00 237.74 2.985.00 329.04 12.649.16 5,915.38 2.400. 745. 37.00 237.74 2,985.00 329.04 9,103.91 3,698.79 1,800.00 1,015.00 512.21 1.820.(X) 257.91 Bank and Investment income CBF Deposit Accounts Barclays Loyalty Payments 2.001.33 2,(A)1.33 2,001.33 2,001.33 1.207.80 1.138.28 69.52 Other irt¢ome One off grants Watton Church Lands Charity151 Sid Long Fund Other income 4,626.70 4.626.70 8,496.70 5,080.00 3,291.70 4.476.70 4,476.70 150. 150.00 125.00 Total income 112.880.69 .817.40 121.698.09 111,714.31 Payments Unrertrlrted Restricted Total 2023 Church Activities Diocese and Deanery Diocesan Share 64,911.33 64.911.33 64,911.33 64.911.33 56.500.¢)0 56,500.00 Church Admlnistration Office salaries Payroll service5 Telephone l Broadband Phot(Kopier Stalionery I postage Equipment maintenance l outlay Statutory fees administration Other 16,154.97 10.751.49 384.CKJ 533.75 2,022.76 118.77 2.246.20 16,154.97 10.751.49 384.00 533.75 2,022.76 118.77 2.246.20 13,891.80 11.078.24 468.00 457.41 958.55 38.52 821.08 98.00 98.00 70.00 Page 2
St Mary's Watton Financial ststements for 2024 Further Analysis of Receipts and Payments {contdl Paymènts Icontdl Unrestricted Restritted Total 2023 Church RuThning Costs Or8an tuning I maintenance Electricity Heating oil Water Insurance Isee note 51 Maintenance and repairs 15ee note 51 Cle3nin8 Car park (incl elertricity / watefl 13,23S.42 338.40 3.828.57 2,574.90 124.76 2.706.70 2,572.72 195.86 893.51 13,235.42 338.40 3,828.57 2,574.90 124.76 2,706.70 2,572.72 195.86 893.51 15,690.27 158.40 5.365.48 2.721.58 130.71 2,667.64 3,430.11 141.61 1.074.74 Worship. ministry and mi$51on SeNice costs Organist / choir / music 8fOUP Copyright licence5 Service requi51tes inc flowers Training and discipleship Verger AV I rnu5ic eqvipment Children youth and families family Matters Keywofker salary Family Matters Keyworker Tax/NI/ pen51011 Family Matters Keyworker expeTh5es I project Outreach Watton Farnilies Grou 2,021.21 29.99 270.00 935.37 55.88 13.763.70 41.95 411.68 15.784.91 71.94 681.68 935.37 55.88 14,615.53 255.36 127.00 891.28 234.92 500.00 400.00 209.84 524.83 10,764.00 116.80 400.00 319.97 400.00 319.97 4174.56 10,764.00 474.56 10.764.00 io. 10.00 2.071.51 2,071.51 591.50 Mlssion and charbtable gv¥ing16} Mission Giving- UK Mission Givin8- non UK 473.51 211.36 262.15 473.51 211.36 262.15 655.50 405.50 250.00 Total Church Activities 96,796A4 13.763.70 110,560.14 101.353.10 Cost of generating funds ISO Club171 Cinema Fundraising events 1,796.10 1.165_(X) 1.796.10 1.165.00 1.762.30 900.00 631.10 631.10 862.30 Governance costs Bank charges Independent examiner (see note 51 1,081.34 457.341 624.(KJ 1,081.34 457.34 624.00 1,067.42 467.42 600.00 Transfer between funds Loss on dlsp05al of Trnvestments Total expenditurt 99,673.88 13.763.70 113,437.58 104,18Z.82 excess Income l expenditure 13.206.81 14.946.30} ,260.51 7,531.49 Page 3
St Mary's Watton Finan¢ial ststernents for 2024 Analysis of Funds Re5trirted Funds181 Unre5trirted Funds111) Organ Fund Starting balance Suiplus Ideficitl End balance Cash In hand 1,355.97 Starting balance Surplus Ideficitl End total 176.58 156.581 1.355.97 120.00 Flower Fund Sta¥ting balance SLtrplus Ideficitl End balance PCC General Fund (current account) Starting balance Surplus Ideficitl End total 3.351.01 5,966.89 11.317.83 3,351.01 17,284.72 Children Youth and Familles Starting balancè Surplus Ideficitl End balance Deposit Fund ICBF I'WorkinB'I Starting balance 24.654.77 Interest 1.945.56 Transfers End tota 1.157.52 341.37 1.498.89 26.600.33 Watton Famllles Group Starting balance Surplus Ideficitl End balance 387.37 1,019.51 1.406.88 Familie5 Matter Key Worker Starting balance Surplus Idelicitl End balance 13.845.56 16,895.501 6.950.06 Familles in Need l Hollday Kitchen1101 Starting balance 1,974.60 Surplus Ideficitl End balance 1,974.60 Chdr Starting balance Surplus Ideficitl End balance 88.32 88.32 Outreach Starting balance Surplus Ideficitl End balance 5.IXX).00 S.IKKI.00 Buildlng Extension Fund starting balance Surplus Ideficitl End balance 51x1.00 5(X).00 Total Re5trirtÈd Funds131 DÈ¢) 22.125.73 Totsl UnrestrEcted Funds131 De£} 44,005.05 Totsl Restrlcted and Unre5trfrted {31 Decl 66,130.78 Pa8e 4
Notes to the accounts The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 26 using the Receipts and Payments basis. Planned giving includes monthly and weekly envelopes, standing orders. direct bank payments, and one-off Gift Aid envelopes. The Restricted amount relates to planned giving for the Families Matters Keyworker post. During the year no collettions were received in relation to restricted funds. Unrestricted donations include gifts which were not part of planned giving or collections at services. as well as the Hole in Wall, Coppers Jar, etc. Amounts paid to the PCC. or on behalf of the PCC, in respett of insurance, and some maintenance costs, by the Watton Church Lands Charity I'st Mar¢s Trust'l in accordance with Fts 1870 governing document. Details Isee p31 as follows-. Insurance Maintenance Independent examiner Total 2,706.70 1.614.(X) 156.00 4,476.70 The accounts include only donations made by the PCC from its unrestricted funds, and do not include bucket collettions, special fundraising, etc. The '150 Club. is a subscription-based fundraiser whereby up to 150 participants buy stakes of £12 per annum. from which two monthly winners receives cash prizes of £50 and £25 respectively. It is covered by a small lottery licence from Breckland District Council. Subscriptions are paid prior to the beginning of each annLtal cycle in April. The total annual prize money of £900 is therefore, strictly speaking, a liability which diminishes through the ye3r. As a proportion of the monthly income of the PCC, this liability is considered manageable. The Restricted Funds are funds which were given for 3 particular purpose and may only be used for that purpose. Most of these funds are held within the'CBF2 (Projects) Deposit Account,. The Families Matter Key Worker project is funded by a grant from Norfolk Countv Council's Early Childhood Community Fund to set up an early-years group at the Watton Community Hub. io Watton Families in Need / Holiday Kttchen is a church- and community project set up during lockdown to ensure emergency supplies of food and essentials for families and individuals in severe need. and especially during school holidays when free school meals are not available.
li These are funds held in various accounts which represent the money immediately available to the PCC to spend on its general purposes.
THE CHURCH OF ENGLAND Diocese of Norwich Independent Examiners Certificate Report to the trustO8sI mambgrs of: 4"i¥C". On accounts for th8 year ended: Charity no Irf any): 12L,3%'1 I report lo the Iruslees on my examination of the accounts of the above charity I"Ihe Trust'l for the year ended -1. I Il I Rosponsibilities and basis of rnport As the charity's Iruslees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 1.the Act"). I report in respect of my examination of the Trust's aecounts carried out under section 145 of the 2011 Act and in carying out my examination: I have followed all the applicable Directions given by the Charity Commission under section 145{5)Ibl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection wrth the examination lolher than thal disclosed below '} which gives me cause to believe that in, any material respect.. . the aUntIng recor(Js were not kept in accordance with secliorb 130 of the Charities Act.. or the accounts did not accord wilh the aCunting records.. or • the accounts did not cornpty wrth the applicable requirements conceming the fom) and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts gtve a 'true and fairf view whh is not a matter considered as part of an independent examination. I have no concems and have eome 8cross no olher matters in connection with the examinatron to which attention should be drawn in this report in order io enable a proper undersianding of the accounts to be reached. ' Please delete the words in the brackgts if théy do nol apply. Srgned.. Date.. IC)? Y&PIQCJ IER Oct 2018
Relevant professional qualificattonlsl or body lif any) Address.. rtered Cethfied Accountants Norfolk. IP25 6AE Section B Disclosure Only complete if the examiner needs to highlight material matters of conternlsee CC32. Independent examination of charty accounts.. dirertions and g¥Jidante for examiner51. Glve here brief details of any items that the examiner wishes to disclose IER ott 2018