Parochial Church Council of
St. Paul's Church Daybrook, Nottingham
Accounts
for the year ended 31 December 2024
4. Statement of Financial Activities
St. Paul's Church Daybrook, Nottingham
For the year ending 31 December 2024
| Note INCOMING RESOURCES Voluntary income 2(a) Incoming resources from charitable activities 2(b) Investment income 2(c) Other incoming resources 2(d) TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities 3 TOTAL RESOURCES EXPENDED NET (OUTGOING) / INCOMING RESOURCES TRANSFER BETWEEN FUNDS Gains/losses on Investment Assets BALANCES BROUGHT FORWARD AT 1 JANUARY 2024 BALANCES CARRIED FORWARD AT 31 DECEMBER 2024 |
Unrestricted Funds General Designated Funds Funds £ £ 75,510 0 5,342 0 257 3,731 21,432 0 102,541 3,731 91,888 0 91,888 0 10,653 3,731 23 0 0 10,676 3,731 28,889 58,080 39,565 61,811 |
Restricted Funds £ 81,534 0 0 950 82,484 26,784 26,784 55,700 (23) 0 55,677 8,609 64,286 |
Endowment Funds Permanent £ 0 0 47 47 2,080 2,127 |
TOTAL 2024 £ 157,044 5,342 3,988 22,382 188,756 118,672 118,672 70,084 0 47 70,131 97,658 167,789 |
FUNDS 2023 £ 77,662 2,330 333 29,122 109,447 90,492 90,492 18,955 0 179 19,134 78,524 97,658 |
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5. Balance Sheet as at 31st December 2024
St. Paul's Church Daybrook, Nottingham
| Note INVESTMENT ASSETS Investments 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand LIABILITIES Creditors - amounts falling due in one year 7 NET CURRENT ASSETS 8 NET ASSETS PARISH FUNDS 9 Unrestricted Designated Endowment Restricted |
2024 £ 2,127 3,606 162,056 165,662 0 165,662 167,789 39,565 61,811 2,127 64,286 167,789 |
2023 £ 2,080 3,392 93,446 96,838 (1,260) 95,578 97,658 28,889 58,080 2,080 8,609 97,658 |
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Approved by the Parochial Church Council on and signed on its behalf by:
Trustee Trustee Rev J Bull Joe Bean
The notes on pages 3 to 7 form part of these accounts.
6. Notes to the Financial Statements
St. Paul's Church Daybrook, Nottingham
For the year ending 31 December 2024
1 ACCOUNTING POLICIES
The PCC is a public benefit entity witin the meaning of FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their 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 UK and Republic of Ireland (FRS102), the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC's. The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant notes to these accounts.
Funds
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for any applications on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
Incoming Resources
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under gift aid is recognised when donations are received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Bank interest is recognised only when received.
Resources Expended
Grants and donations are accounted for when paid over, or when expenses are incurred, if that award is for a specific activity.
Activities directly relating to the work of the church
The Diocesan Parish Share is accounted for when paid. Parish Share unpaid which totals £9,996 for 2024 as at 31 December 2024 has not been provided.
Fixed Assets
Consecrated property and moveable church furnishings
Consecrated and beneficial property of any kind is excluded from the accounts by s.96(2)(a) of the Charities Act 1993.
No value is placed on moveable church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposals since the PCC considers this to be inalienable property.
Moveable church furnishings held by the Churchwardens on special trust for the PCC, and which require a faculty for disposal, are counted as inalienable property unless consecrated. They are listed on the Church's Inventory which can be inspected (at any reasonable time).
All expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities (SOFA).
6. Notes to the Financial Statements (continued)
St. Paul's Church Daybrook, Nottingham
For the year ending 31 December 2024
1 ACCOUNTING POLICIES (continued)
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal
Other fixtures, fittings and office equipment
All expenditure on fixtures, fittings and office furniture is written off at the time expenditure is incurred.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value
2 INCOMING RESOURCES
| Unrestricted Funds General Designated Funds Funds £ £ 2(a) Voluntary income Donationsand legacies; Donations from individuals 3,051 Gift aid reclaimed 14,477 Regular giving 49,237 Other voluntary giving 7,065 Grants 1,680 Legacy 75,510 - 2(b) Activities for generating funds Income from fundraising activities 5,342 5,342 - 2(c) Investment income Interest 3,731 Dividends Received 257 257 3,731 2(d) Other ordinary incoming resources Statutory Fees 1,933 Vat Reclaim Use of hall & church 10,639 St Timothy's Church Income 8,459 St. Timothy's Insurance Contribution Other incoming resources 401 21,432 - TOTAL INCOMING RESOURCES 102,541 3,731 |
Restricted Funds £ 50,534 306 30,694 81,534 - - - 950 950 82,484 |
TOTAL FUNDS 2024 2023 £ £ 53,585 5,187 14,477 14,002 49,237 43,332 7,371 2,817 32,374 12,324 - - 157,044 77,662 5,342 2,330 5,342 2,330 3,731 80 257 253 3,988 333 2,883 4,018 - 696 10,639 12,559 8,459 10,233 - 766 401 850 22,382 29,122 188,756 109,447 |
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6. Notes to the Financial Statements (continued)
St. Paul's Church Daybrook, Nottingham
For the year ending 31 December 2024
| 3 RESOURCES EXPENDED 3 Charitable activities Missionary and charitable giving: Ministry: Parish share Maintenance Church running expenses Church Utility Expenses Insurance Church Based Mission & Outreach Mission Local Outreach St. Timothy's Insurance Premium Salaries Clergy & Vicarage Expenses Children & Youth Expenses Cost of Fundraising Activities Governance Costs Quinquennial Expenses Major Church repairs Total Church Expenses Church Hall Utility Expenses Church Hall Insurance Church Hall Cleaning Church hall Expenses inc maintenance Total Hall Expenses St Timothy's Utility Expenses St Timothy's Insurance St Timothy's Cleaning St Timothy's Expenses inc maintenance Total St Timothy's Expenses TOTAL RESOURCES EXPENDED |
Unrestricted Funds Restricted TOTAL FUNDS General Designated Funds Funds Funds 2024 2023 £ £ £ £ £ 278 278 363 30,000 30,000 24,000 2,581 548 3,129 3,398 6,037 196 6,233 5,024 10,265 10,265 11,742 10,708 10,708 11,295 3,128 194 3,322 6,951 7,584 7,584 - - 1,171 11,881 11,881 4,175 295 295 - 6,103 6,103 - 5,352 5,352 474 - - - - 834 834 1,517 69,200 - 26,784 95,984 70,110 2,752 2,752 4,157 852 852 1,781 2,955 2,955 2,769 3,782 3,782 4,977 10,341 - - 10,341 13,684 4,519 4,519 4,180 612 612 606 642 642 980 6,574 6,574 932 12,347 - - 12,347 6,698 91,888 - 26,784 118,672 90,492 |
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Other than clergy, no church member was reimbursed for out of pocket expenses (e.g. travelling).
4 INDEPENDENT EXAMINER'S FEE
The fee for the Independent Examination of the 2024 accounts is on a honorarium basis (2023 £50).
6. Notes to the Financial Statements (continued)
St. Paul's Church Daybrook, Nottingham
For the year ending 31 December 2024
5 INVESTMENT ASSETS FOR USE BY THE PCC
| Cost or Valuation At 1 January 2024 Revaluation NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
2,080 47 2,127 2,080 |
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The Church also receives income from the Robinson Trust which is held and administered on behalf of the Church by the Southwell and Nottingham Diocesan Board of Finance. The investments are not included within the balance sheet and income receivable is credited to the statement of financial activities.
As at the of 2024 the market value of the Capital Endowment fund was £7,330 (cost £323). A further £352 is held as restricted income.
| 6 DEBTORS Gift Aid Claim Prepayments 7 LIABILITIES: Accruals & Deferred Income Parochial Fees |
2024 2023 £ £ 3,606 3,392 3,606 3,392 2024 2023 £ £ - 1,260 - 1,260 |
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8 ANALYSIS OF NET ASSETS BY FUND
| Investment Assets Current Assets Current Liabilities Inter fund balances |
Restricted Endowment Total General Designated Funds Funds Funds Funds Funds Permanent £ £ £ £ £ - - 2,127 2,127 39,564 61,811 64,287 165,662 0 0 1 0 (1) - 39,565 61,811 64,286 2,127 167,789 Unrestricted Funds |
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6. Notes to the Financial Statements (continued)
St. Paul's Church Daybrook, Nottingham
For the year ending 31 December 2024
9 FUNDS
| Unrestricted Funds General General Fund Designated Capital Fund Fabric Fund John Clewer Legacy Total unrestricted funds Restricted Funds Selley Legacy Beyond the Building Lighting Upgrade Organ Fund Children's Society Local Mission Outreach St. Timothy's Community Project Kids & Youth Total restricted funds Endowment Funds Permanent CBF Church of England Investment Fund Total funds |
Balance Receipts Payments Revaluation Transfers Balance at 1/01/24 at 31/12/24 £ £ £ £ £ £ 28,889 102,541 (91,888) 23 39,565 0 0 43,000 3,731 46,731 15,080 15,080 86,969 106,272 (91,888) 0 23 101,376 694 (194) 500 568 (196) 372 0 50,000 50,000 0 1,200 (548) 652 301 306 (278) (23) 306 146 (146) 0 6,900 4,294 (7,584) 146 3,756 0 26,684 (17,984) 8,700 8,609 82,484 (26,784) 0 (23) 64,286 Balance Receipts Payments Revaluation Transfers Balance at 1/01/24 at 31/12/24 2,080 47 2,127 97,658 188,756 (118,672) 47 0 167,789 |
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The specific purposes for which the funds are to be applied are as follows:
The designated fund represents a proportion of general income set aside to fund future capital projects and unforeseen major maintenance work.
The restricted funds represent donations and appeals which can only be spent for the specific purposes stated.
The endowment fund represents a Permanent Endowment Account within a CBF Church of England Investment Fund.
Donations and legacies; Donations from individuals Gift aid reclaimed Regular giving Other voluntary giving