Our Lady and St Nicholas Liverpool

Transcription

1 Charity number DIOCESE OF LIVERPOOL Our Lady and St Nicholas Liverpool Annual Report of the Parochial Church Council Year ending 31 st December 2012

2 Annual Report for the Year Ended 31st December 2012 Administrative information Our Lady & St Nicholas, Old Churchyard, Chapel Street, Liverpool. L2 8TZ Official correspondence to the Parish Administrator, Church Office at the above address. PCC Members During the year the following served as members of the PCC: Rector: The Revd Steven Brookes(Chair) Curate: The Revd John Williams (to July 2012) Assistant Priest: The Revd Michelle Montrose (from September 2012) Parish Assistant: Matthew Harbage (to August 2012) Joseph Cotterill (from September 2012) Readers: Wardens: Deanery Synod Representatives: Secretary: Treasurer: Other Elected Members: Mrs Margaret Sadler Miss Joyce Ashcroft Mr Roger Merchant Captain Peter Woods Miss Joyce Ashcroft (Deanery Lay Chair) Mrs Margaret Sadler (Deanery Secretary) Mrs Margaret Sadler Mrs Caroline Blower Mrs Sue Ashcroft Mr. David Howard (to April 2012) Mr. Nick Ledingham Mr. Peter Summerfield (Lay Vice-Chair from January 2013) Mr Peter Kennerley (to December 2012) (Lay Vice-Chair) Miss Angela Willett Mrs Sarah Wrightson Mrs Rosalie Inglis Miss Harriet Forward(to April 2012) Mrs Bernice Cruise(to April 2012) Mrs Mary Brady Mrs Pauline Lewis Mr Tim Gray page2

3 Parish Advisors Bankers: Barclays Bank PLC, Liverpool City Business Centre, 48b-50 Lord Street, Liverpool L2 1TD Investments: Geoff Tym, Investec Investment Management, 100 Old Hall Street, Liverpool L3 9AB Architect: Maggie Mullan, Austin Smith-Lord, Port of Liverpool Building, Pier Head, Liverpool L3 1BY Independent Examiner: Susan Buckley, HBD Accountancy Services LLP, Gladstone House, 2 Church Road, Liverpool L15 9EG Day to day management control of the Church is exercised by the incumbent The Revd Steven Brookes and wardens Mr Peter Woods and Mr Roger Merchant, contactable via the church office on Structure, Management and Governance Our Lady & St Nicholas PCC operates under the Parochial Church Council Powers Measure The PCC was required to register with the Charity Commission during 2009 following a change in Charity Law. Registration was confirmed in September Registered Charity No Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. All church members are encouraged to register on the Electoral Roll and stand for election on the PCC. Other related trusts: Liverpool Blitz Memorial Fund registered charity , the incumbent and 1 member of the PCC are trustees. OLSN Educational Fund - registered charity , all members of the PCC are trustees. Sub-committees The Standing Committee - the only committee required by law. It meets at least once in the interval between scheduled PCC meetings to implement PCC resolutions, to transact other business on behalf of the PCC and to set future agendas. Membership comprises Incumbent, Curate, Wardens, PCC Secretary, PCC Treasurer and Lay Vice Chair. The Investment Committee - meets annually to advise the Treasurer and Council on Parish investments. Membership comprises PCC Treasurer and the Investment advisor. The Church and World Action Committee- meet at least twice a year to discuss the distribution of donations to supported groups. Membership comprises the former Lay vice Chair, members of the PCC and members of the congregation. page3

4 Objectives and Activities The PCC (Powers) measure 1956 states the PCC is to co-operate with the minister in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical Our objectives for 2012 were: Mission & worship Continue a programme of suppers, quizzes and other social events on the church premises, with emphasis on events with low preparation costs. Consolidate some of the ideas and changes made in our worship over the last two years. To undertake a PCC Day away following the APCM to discuss issues relating to Church Growth and Objectives Our own church community to arrange and present two concerts on our premises in order to raise the profile of our mission and to raise funds. Provide clearer service sheets for our congregation. Provide encouraging and user-friendly material on our website and in church about our commitment to, and abiding by, Church of England policy towards those who wish to be baptised, married and have their funerals in the church. To work proactively with other organisations in the city to maintain the safety, security and welcoming appearance of our church premises. Implement plans for more events in our church gardens New policies and procedures relating to safeguarding of Children to be drawn up together with those of Young People and Vulnerable Adults Enhancement and development of church buildings The renewal of the central heating boilers to be carried out late summer Continue fundraising for refurbishment of Arctic Convoy Memorial Market our meeting room facilities to external organisations Refurbish the Alexandra Room, Alexandra Room Kitchen, Library and Quiet Room Continue to upgrade church electrical circuits Look to improve security on the garden door Full terrier and inventory to be carried out Finance, Giving and Fundraising Continue to monitor expenditure closely Schedule regular communications about tax-efficient giving Continue to review and realise one-off sources of income Activities and achievements against objectives: Mission & worship Father John Williams left Liverpool Parish Church in July to take up a position as priest in Aintree The RevdMichelle Montrose joined us in September and has taken responsibility for weddings The Parish Assistant Matthew Harbage left at the end of August to begin training for the priesthood He was replaced by Joseph Cottrell who joined us in September for a twelve month period page4

5 Weekly service sheets were updated to make them clearer to follow The Parish Church continues to be used by the civic and military communities as a location for special services and events Lent Addresses were held in the Wednesday lunchtime mass with music; attendance was very good,with numbers ranging from 50 to 100 Enhancement and development of church buildings The renewal of the central heating boilers was put back until summer 2013 to allow for further quotes and look at additional work involved, e.g. staging and stonework. Arctic Convoy Memorial - Peel Ports sponsored the removal of the old memorial pedestals and donated two granite blocks. Additional stone work is still to be carried out. We continued to market our meeting room facilities to external organisations and were able to let both meeting rooms and car parking spaces to a local company The refurbishment of the Alexandra Room was placed on hold until funds are made available We continued to upgrade church electrical circuits A full terrier and inventory carried out Finance, Giving and Fundraising The church made a cash surplus of 4,736 in the year and the value of the church s investments increased by 15,907, increasing the church s assets by 20,643 in the year Income for the year fell by 9,330 The boiler fund appeal raised 15,329 with gift aid of 838 to be recovered in 2013 Income from our investments remained stable despite the tough economic conditions Expenditure decreased by 24,418 in the year Our distribution to charities in the year was 10% of our distributable income Reserves Policy The PCC maintains reserves comprised of a sum equivalent to approximately 3 months normal income and a cash flow reserve of 10,000. This amounts to a total of approximately 40,000. The reserves policy will be reviewed annually by the PCC. The reserves throughout the year were at least this amount. Plans for the future In 2013 we have planned the following: Mission & worship Our new Assistant Priest David Baverstock will join us at the end of April The development of pastoral teams to visit people at home to assist with the distribution of home Communion Review the number of week day services Review our welcome to carol service groups Review our ministry to hotels and the leisure industry in the parish Revitalise a programme of suppers, quizzes and other social events on the church premises Provide encouraging and user-friendly material on our website and in church about our commitment to, and abiding by, Church of England policy towards those who wish to be baptised, married and have their funerals in the church. To work proactively with other organisations in the city to maintain the safety, security and welcoming page5

6 appearance of our church premises Review of the electoral roll will take place Implement plans for more events in our church gardens Enhancement and development of church buildings The renewal of the central heating boilers to be carried out late summer Continue fundraising for refurbishment of Arctic Convoy Memorial with aim to have Memorial restored in May Continue to market our meeting room facilities to external organisations Refurbish the Alexandra Room if funding allows Continue to upgrade church electrical circuits Redecorate and refurbish Pepys Flat prior to arrival of our new Curate. New Quinquennial Survey to be carried out Glass doors to be supplied and fitted to replace present internal main Narthex Wooden doors Complete work to meet fire service requirements Finance, Giving and Fundraising Appoint a new Treasurer Review the way in which jobs are shared within our treasury team Continue to monitor expenditure closely Complete a voluntary rate appeal Schedule regular communications about tax-efficient giving Promote knowledge of legacies and wills Ensure church is meeting requirements of PAYE real time legislation by April Continue to review and realise one-off sources of income Declaration The trustees declare that they have approved the trustees report above. Signed on behalf of the charity s trustees Peter Woods (Warden) Date page6

7 INDEPENDENT EXAMINERS REPORT To the PCC of Our Lady & St Nicholas This report on the accounts of the PCC for the year ended 31st December 2012 which are set out on pages 8 to 14 is in respect of an examination carried in accordance with the Church Accounting Regulations 2006 ( the Regulations ) and section 145 of the Charities Act 2011 ( the Act ). Respective responsibilities of the PCC and the examiner As the members of the PCC you are responsible for the preparation of the accounts; you consider that the audit requirement of the Regulations and section 144 of the Act does not apply. It is my responsibility to issue this report on those accounts in accordance with the terms of the Regulations. Basis of this report My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145(5)(b) of the Act and to be found in the Church guidance, 2006 edition. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. 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 Act; and to prepare accounts which accord with the accounting records and comply with the requirements of the Act and the Regulationshave 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. Susan Buckley, HBD Accountancy Services LLP, Gladstone House, 2 Church Road, Liverpool. L15 9EG page7

8 Parochial Church Council of Our Lady and St Nicholas Statement of financial activities For the year ended 31 December 2012 Unrestricted Restricted Endowment Prior Year Notes Incoming Resources Voluntary Income 2(a) 61,281 15,329-76,609 71,048 Activities for generating funds 2(b) 9, ,483 12,692 Investments 2(c) 15, ,720 15,320 Church Activities 2(d) 6,396 1,781-8,177 11,764 Other 2(e) ,496 Sub 92,880 17, , ,320 Resources Expended Costs of generating voluntary income 3(b) 1,513-1,513 1,092 Fund-raising trading costs 3(c) 116-2,179 2,295 2,270 Church activities 3(a) 80,225 2,647-82,872 99,312 Other costs 3(d) 14, ,582 16,618 Staff Costs 4 3, ,992 10,380 Sub 100,428 2,647 2, , ,672 Net Incoming ResourcesBefore Other Recognized Gains & Losses Net Incoming Resources (7,548) 14,463 (2,179) 4,736 (10,352) Gains on investment assets On disposal 5(b) - - 1,802 1,802 - On revaluation 5(b) (400) (119) 14,624 14,105 (8,296) Net Movement in Movement (7,948) 14,344 14,247 20,643 (18,648) Balances at 1/1 70,672 26, , , ,066 Balances at 31/12 62,724 40, , , ,843 page8

9 Parochial Church Council of Our Lady and St Nicholas Balance Sheet For the year ended 31 December 2012 Notes 2012 Fixed Assets Tangible 5(a) 1,721 2,420 Investment 5(b) 387, ,056 Sub 388, ,476 Current Assets Stock - - Debtors 6 15,869 18,104 Cash at bank and in hand 79,746 87,500 Sub 95, ,604 Liabilities Creditors - amounts falling due < 1 year 7 (8,918) (27,237) Net Current Assets/ (Liabilities) assets less current liabilities 86,697 78,367 TOTAL NET ASSETS 475, ,843 Unrestricted 8 62,725 70,672 Restricted 40,347 26,003 Endowment 372, ,168 TOTAL PARISH FUNDS 475, , Approved by the Parochial Church Council on 14 th March 2013 and signed on its behalf by: Steven Brookes (PCC Chairman) Caroline Blower ACMA (Treasurer) The notes on pages 10 to 14 form part of these accounts page9

10 Notes to the financial statements For the year ended 31 December ACCOUNTING POLICIES The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the SORP 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 the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members. Endowment funds are funds, the capital of which must be maintained; only income arising from the investment of the endowment may be used either as restricted or unrestricted funds depending on the purpose for which the endowment was established. Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific purpose or object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis. Unrestricted funds are general funds, which can be used for PCC ordinary purposes. Incoming Resources Planned giving, collections and donations are recognised when they are received. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain. Dividends are accounted for when due and payable and interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year. Income tax recoverable on gift aid donations is recognised when the income is received. All other income is recognised when it is receivable. All incoming resources are accounted for gross. Resources Used Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation or constructive obligation on the PCC. The Diocesan Quota and Stipend are accounted for when paid. Any amounts unpaid at 31 December are provided for in these accounts as an operational (though not a legal) liability and are shown as a creditor in the Balance Sheet. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross. Fixed Assets Consecrated and beneficed property of any kind is excluded from the accounts by s.96 (2) (a) of the Charities Act Moveable church furnishings held by the Rector and Churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for as inalienable property unless consecrated. They are listed in the Church s inventory, which can be inspected (at any reasonable time). For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life (initially over 20 years) on a straight-line basis. Equipment used within the church premises is depreciated on a straight-line basis over 4 years. All expenditure incurred in the year on consecrated or beneficed buildings, individual items under 500 or on the repair of moveable church furnishings acquired before 1 January 2000 is written off. Investments are valued at market value. Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December. page10

11 2. INCOMING RESOURCES Unrestricted 2(a) Voluntary Income Restricted Endowment Prior Year Gift Aid Donations 25, ,730 26,397 Tax recoverable 7, ,850 9,823 Other 2, ,902 3,293 Collections 12, ,436 11,812 Grants Donations, appeals 12,362 15,329-27,691 18,724 Legacies ,000 61,280 15,329-76,609 71,048 2(b) Activities for generating funds Fundraising nonchurch purposes 7, ,561 10,400 Fundraising Misc 1, ,261 1,617 Catering , ,483 12,692 2(c)Income from investments Dividends, interest & tax recoverable 15,220 Rent , , ,720 15,320-15,320 2(d) Income from Church Activities Parochial Fees retained by PCC 3,883 1,781-5,664 8,449 Church hall lettings 2, ,514 3,315 6,397 1,781-8,178 11,764 2(e) Other incoming resources Insurance claims/sale of fixed assets ,496 TOTAL INCOMING RESOURCES 92,880 17, , ,320 page11

12 3. RESOURCES EXPENDED Unrestricted Restricted Endowment Prior Year 3(a)Church activities Mission & charitable giving Overseas 1, ,500 1,000 Relief & development agencies 2, ,000 - Home missions (4,991) - - (4,991) 5,000 Secular charities 6, , Ministry Diocesan parish share 19, ,132 18,846 Other ministry costs Clergy expenses 2,218 1,937-4,155 6,433 Parsonage 2, ,079 1,772 Assistant staff 6, ,513 7,585 Church running & maintenance Church running expenses 29, ,259 28,704 Church maintenance 8, ,047 11,167 Upkeep of services 3, ,538 4,380 Depreciation Parish magazine costs Walton Park Parish centre Running costs 3, ,274 3,485 Other property upkeep ,258 Major repairs / works ,227 2,647-82,874 99,312 3(b) Generation of voluntary income Stewardship costs 1, ,513 1,092 3(c)Fundraising costs trading Fundraising costs Fundraising costscatering Investment management - - 2,179 2,179 2, ,179 2,295 2,270 3(d) Other resources expended Other Support 13, ,662 15,786 14, ,582 16,618 TOTAL EXPENDED 96,436 2,647 2, , ,292 4(a) Staff Costs (Wages & Salaries) Organist 2, ,620 2,721 Security ,959 Choir 1, ,300 1,700 3, ,992 10,380 page12

13 5(a) FIXED ASSETS Tangible (Unrestricted) Freehold land & building Church equipment Actual / Deemed cost As at 1/1-4,043 4,043 Disposal Additions at cost As at 31/12-4,043 4,043 Depreciation As at 1/1-1,623 1,623 Withdrawn on disposals Charge for year As at 31/12-2,322 2,322 5(b) Investments GLADSTONE FUND Historical cost 129, ,980 Market value 138, ,724 HAMPSON BEQUEST Historical cost 93,424 94,571 Market value 97,002 96,212 SUNDRY ENDOWMENTS Historical cost 98,261 98,256 Market value 129, ,054 OLSN EDUCATIONAL FUND Historical cost 19,902 19,902 Market value 19,902 19,902 Accrued Interest 2,335 3,164 TOTALS Historical cost 341, ,709 Market value + Accrued Interest 387, ,056 Held within the Hampson Bequest are the following two items Repairs Fund Market value 5,723 5,677 Unrestricted Legacies Market value 6,596 6,542 The market value as at 31 st December represents investments for: Unrestricted funds 12,319 Restricted funds 2,335 Endowment funds 372,415 The Gladstone Fund was established following the sale of 62 Rodney Street, Liverpool, the birthplace of W.E.Gladstone. The capital cannot be spent but up to 4/5 of the fund can be borrowed interest free towards the costs of a new Rectory. The income from the fund is otherwise available to the PCC without restriction. The Hampson Bequest is the overall title of the fund which now contains both the legacy given under the will of John Henry Hampson as well as an earlier bequest (the James Cross Fund), to which has been added PCC repair funds above the current 3,000 cash holding and a portion of two unrestricted legacies, pending a decision on a suitable memorial to the donors. Only the unrestricted funds can be spent, but all Hampson Fund income is unrestricted. The Our Lady & St Nicholas Educational Fund was established in 1998 with the proceeds of the sale of the former church school in Vauxhall. The income from this fund is to be used to assist the education of both the young people associated with the Church and in the Vauxhall area. page13

14 6. DEBTORS (Unrestricted ) Tax recoverable 7,850 7,500 Other debtors 8,019 10,604 15,869 18,104 7.LIABILITIES (Amounts falling due in one year) Accruals for utility & other costs 8,918 27,237 Other creditors - - 8,918 27, FUNDS Balance at 1/1 Incoming resources Resources expended Investment gains Balance at 31/12 Unrestricted fund movements Café fund Legacies 18, (446) 17,608 Rector s fund 1, Repair fund 8, ,719 Accumulated funds 42,794 91,919 98,745-35,978 70,672 92, ,428 (400) 62,725 Restricted fund movements Chapels Fund Blitz Memorial Fund 9, ,798 Arctic Convoy Memorial 1, ,190 OLSN Educational Fund 3, (119) 2,335 Boiler 4,225 15, ,554 Sound system 4, ,870 Misc restricted 2,132 1,781 1,937-1,976 Catering ,003 17,110 2,647 (119) 40, ANALYSIS OF NET ASSETS BY FUND Unrestricted Restricted Endowment Prior Year Tangible fixed assets 1, ,722 2,420 Investment fixed assets 12,319 2, , , ,551 Current assets 57,603 38,012-95, ,090 Current Liabilities (8,918) - - (8,918) (27,237) 62,725 40, , , ,824 page14