## **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<br>**INCOMING RESOURCES**<br>Voluntary income<br>2(a)<br>Incoming resources from charitable activities 2(b)<br>Investment income<br>2(c)<br>Other incoming resources<br>2(d)<br>**TOTAL INCOMING RESOURCES**<br>**RESOURCES EXPENDED**<br>Charitable activities<br>3<br>**TOTAL RESOURCES EXPENDED**<br>**NET (OUTGOING) / INCOMING RESOURCES**<br>**TRANSFER BETWEEN FUNDS**<br>Gains/losses on Investment Assets<br>BALANCES BROUGHT FORWARD AT<br>1 JANUARY 2024<br>**BALANCES CARRIED FORWARD**<br>**AT 31 DECEMBER 2024**|Unrestricted Funds<br>General<br>Designated<br>Funds<br>Funds<br>£<br>£<br>75,510<br>0<br>5,342<br>0<br>257<br>3,731<br>21,432<br>0<br>102,541<br>3,731<br>91,888<br>0<br>91,888<br>0<br>10,653<br>3,731<br>23<br>0<br>0<br>10,676<br>3,731<br>28,889<br>58,080<br>39,565<br>61,811|Restricted<br>Funds<br>£<br>81,534<br>0<br>0<br>950<br>82,484<br>26,784<br>26,784<br>55,700<br>(23)<br>0<br>55,677<br>8,609<br>64,286|Endowment<br>Funds<br>Permanent<br>£<br>0<br>0<br>47<br>47<br>2,080<br>2,127|TOTAL<br>2024<br>£<br>157,044<br>5,342<br>3,988<br>22,382<br>188,756<br>118,672<br>118,672<br>70,084<br>0<br>47<br>70,131<br>97,658<br>167,789|FUNDS<br>2023<br>£<br>77,662<br>2,330<br>333<br>29,122<br>109,447<br>90,492<br>90,492<br>18,955<br>0<br>179<br>19,134<br>78,524<br>97,658|
|---|---|---|---|---|---|





## **5.     Balance Sheet as at 31st December 2024** 

## **St. Paul's Church Daybrook, Nottingham** 

|Note<br>**INVESTMENT ASSETS**<br>Investments<br>5<br>**CURRENT ASSETS**<br>Debtors<br>6<br>Cash at bank and in hand<br>**LIABILITIES**<br>Creditors - amounts falling due in one year<br>7<br>**NET CURRENT ASSETS**<br>8<br>**NET ASSETS**<br>**PARISH FUNDS**<br>9<br>**Unrestricted**<br>**Designated**<br>**Endowment**<br>**Restricted**|2024<br>£<br>2,127<br>3,606<br>162,056<br>165,662<br>0<br>165,662<br>167,789<br>39,565<br>61,811<br>2,127<br>64,286<br>167,789|2023<br>£<br>2,080<br>3,392<br>93,446<br>96,838<br>(1,260)<br>95,578<br>97,658<br>28,889<br>58,080<br>2,080<br>8,609<br>97,658|
|---|---|---|



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<br>General<br>Designated<br>Funds<br>Funds<br>£<br>£<br>2(a) Voluntary income<br>Donationsand legacies;<br>Donations from individuals<br>3,051<br>Gift aid reclaimed<br>14,477<br>Regular giving<br>49,237<br>Other voluntary giving<br>7,065<br>Grants<br>1,680<br>Legacy<br>75,510<br>-<br>2(b) Activities for generating funds<br>Income from fundraising activities<br>5,342<br>5,342<br>-<br>2(c) Investment income<br>Interest<br>3,731<br>Dividends Received<br>257<br>257<br>3,731<br>2(d) Other ordinary incoming resources<br>Statutory Fees<br>1,933<br>Vat Reclaim<br>Use of hall & church<br>10,639<br>St Timothy's Church Income<br>8,459<br>St. Timothy's Insurance Contribution<br>Other incoming resources<br>401<br>21,432<br>-<br>**TOTAL INCOMING RESOURCES**<br>102,541<br>3,731|Restricted<br>Funds<br>£<br>50,534<br>306<br>30,694<br>81,534<br>-<br>-<br>-<br>950<br>950<br>82,484|TOTAL FUNDS<br>2024<br>2023<br>£<br>£<br>53,585<br>5,187<br>14,477<br>14,002<br>49,237<br>43,332<br>7,371<br>2,817<br>32,374<br>12,324<br>-<br>-<br>157,044<br>77,662<br>5,342<br>2,330<br>5,342<br>2,330<br>3,731<br>80<br>257<br>253<br>3,988<br>333<br>2,883<br>4,018<br>-<br>696<br>10,639<br>12,559<br>8,459<br>10,233<br>-<br>766<br>401<br>850<br>22,382<br>29,122<br>188,756<br>109,447|
|---|---|---|





## **6.    Notes to the Financial Statements (continued)** 

## **St. Paul's Church Daybrook, Nottingham** 

## **For the year ending 31 December 2024** 

|**3 RESOURCES EXPENDED**<br>3<br>Charitable activities<br>Missionary and charitable giving:<br>Ministry: Parish share<br>Maintenance<br>Church running expenses<br>Church Utility Expenses<br>Insurance<br>Church Based Mission & Outreach<br>Mission Local Outreach<br>St. Timothy's Insurance Premium<br>Salaries<br>Clergy & Vicarage Expenses<br>Children & Youth Expenses<br>Cost of Fundraising Activities<br>Governance Costs<br>Quinquennial Expenses<br>Major Church repairs<br>**Total Church Expenses**<br>Church Hall Utility Expenses<br>Church Hall Insurance<br>Church Hall Cleaning<br>Church hall Expenses inc maintenance<br>**Total Hall Expenses**<br>St Timothy's Utility Expenses<br>St Timothy's Insurance<br>St Timothy's Cleaning<br>St Timothy's Expenses inc maintenance<br>**Total St Timothy's Expenses**<br>**TOTAL RESOURCES EXPENDED**|Unrestricted Funds<br>Restricted<br>TOTAL FUNDS<br>General<br>Designated<br>Funds<br>Funds<br>Funds<br>2024<br>2023<br>£<br>£<br>£<br>£<br>£<br>278<br>278<br>363<br>30,000<br>30,000<br>24,000<br>2,581<br>548<br>3,129<br>3,398<br>6,037<br>196<br>6,233<br>5,024<br>10,265<br>10,265<br>11,742<br>10,708<br>10,708<br>11,295<br>3,128<br>194<br>3,322<br>6,951<br>7,584<br>7,584<br>-<br>-<br>1,171<br>11,881<br>11,881<br>4,175<br>295<br>295<br>-<br>6,103<br>6,103<br>-<br>5,352<br>5,352<br>474<br>-<br>-<br>-<br>-<br>834<br>834<br>1,517<br>69,200<br>-<br>26,784<br>95,984<br>70,110<br>2,752<br>2,752<br>4,157<br>852<br>852<br>1,781<br>2,955<br>2,955<br>2,769<br>3,782<br>3,782<br>4,977<br>10,341<br>-<br>-<br>10,341<br>13,684<br>4,519<br>4,519<br>4,180<br>612<br>612<br>606<br>642<br>642<br>980<br>6,574<br>6,574<br>932<br>12,347<br>-<br>-<br>12,347<br>6,698<br>91,888<br>-<br>26,784<br>118,672<br>90,492|
|---|---|



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<br>At 1 January 2024<br>Revaluation<br>NET BOOK VALUE<br>At 31 December 2024<br>At 31 December 2023|2,080<br>47<br>2,127<br>2,080|
|---|---|



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**<br>Gift Aid Claim<br>Prepayments<br>**7 LIABILITIES:**<br>Accruals & Deferred Income<br>Parochial Fees|2024<br>2023<br>£<br>£<br>3,606<br>3,392<br>3,606<br>3,392<br>2024<br>2023<br>£<br>£<br>-<br>1,260<br>-<br>1,260|
|---|---|



## **8 ANALYSIS OF NET ASSETS BY FUND** 

|Investment Assets<br>Current Assets<br>Current Liabilities<br>Inter fund balances|Restricted<br>Endowment<br>Total<br>General<br>Designated<br>Funds<br>Funds<br>Funds<br>Funds<br>Funds<br>Permanent<br>£<br>£<br>£<br>£<br>£<br>-<br>-<br>2,127<br>2,127<br>39,564<br>61,811<br>64,287<br>165,662<br>0<br>0<br>1<br>0<br>(1)<br>-<br>39,565<br>61,811<br>64,286<br>2,127<br>167,789<br>Unrestricted Funds|
|---|---|





## **6.    Notes to the Financial Statements (continued)** 

## **St. Paul's Church Daybrook, Nottingham** 

## **For the year ending 31 December 2024** 

## **9 FUNDS** 

|**Unrestricted Funds**<br>_General_<br>General Fund<br>_Designated_<br>Capital Fund<br>Fabric Fund<br>John Clewer Legacy<br>**Total unrestricted funds**<br>**Restricted Funds**<br>Selley Legacy<br>Beyond the Building<br>Lighting Upgrade<br>Organ Fund<br>Children's Society<br>Local Mission Outreach<br>St. Timothy's Community Project<br>Kids & Youth<br>**Total restricted funds**<br>**Endowment Funds**<br>_Permanent_<br>CBF Church of England<br>Investment Fund<br>**Total funds**|Balance<br>Receipts<br>Payments<br>Revaluation Transfers<br>Balance<br>at 1/01/24<br>at 31/12/24<br>£<br>£<br>£<br>£<br>£<br>£<br>28,889<br>102,541<br>(91,888)<br>23<br>39,565<br>0<br>0<br>43,000<br>3,731<br>46,731<br>15,080<br>15,080<br>86,969<br>106,272<br>(91,888)<br>0<br>23<br>101,376<br>694<br>(194)<br>500<br>568<br>(196)<br>372<br>0<br>50,000<br>50,000<br>0<br>1,200<br>(548)<br>652<br>301<br>306<br>(278)<br>(23)<br>306<br>146<br>(146)<br>0<br>6,900<br>4,294<br>(7,584)<br>146<br>3,756<br>0<br>26,684<br>(17,984)<br>8,700<br>8,609<br>82,484<br>(26,784)<br>0<br>(23)<br>64,286<br>Balance<br>Receipts<br>Payments<br>Revaluation Transfers<br>Balance<br>at 1/01/24<br>at 31/12/24<br>2,080<br>47<br>2,127<br>97,658<br>188,756<br>(118,672)<br>47<br>0<br>167,789|
|---|---|



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