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2024-12-31-accounts

Registered Charity: 1127534

ANNUAL REPORT & FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024

TABLE OF CONTENTS

ADMINISTRATIVE INFORMATION ________ 1 ANNUAL REPORT _________ 2 INDEPENDENT EXAMINER’S REPORT _______ 13 FINANCIAL STATEMENTS ___________ 14

PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

ADMINISTRATIVE INFORMATION

The Charity is called “The Parochial Church Council of the Ecclesiastical Parish of Saint Peter Farnborough”. The Parochial Church Council is known as the PCC for short. Other names which are used for the charity are "St Peter's Farnborough". The Church is registered with the Charity Commission for England and Wales.

REGISTERED CHARITY NUMBER

1127534

REGISTERED OFFICE

60 Church Avenue, Farnborough, Hants, GU14 7AP

PROFESSIONAL ADVISORS

Bankers: National Westminster Bank PLC. 31-37 Victoria Road, Farnborough, Hants. GU14 7NR Independent Examiner: Wyatt & Co Chartered Accountants, 125 Main St, Garforth, Leeds LS25 1AF Accountant: Jennifer Daplyn MIAB, RockSalt, 95 Highgate Lane, Farnborough, Hants, GU14 8AA

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

ANNUAL REPORT

BACKGROUND

The PCC of St Peter’s Church is an official, predominantly elected team that shares leadership responsibility with its Incumbent in promoting within the ecclesiastical parish the whole mission of the Church - pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the St Peter’s Church campus and associated properties.

The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The Parish of St Peter’s and the Parish of the Good Shepherd are a two-parish Group Ministry within the Aldershot Deanery of the Guildford Diocese. This is a commitment to support and co-operate in mission and has no financial obligations.

The Church Pastoral Aid Society is the sole patron of both Parishes. The PCC is registered with the Charity Commission.

MEMBERSHIP OF THE PCC

Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. In 2024 the Parish elected 7 of the 15 PCC representatives with a three-year term. One place for a lay members remained vacant. The APCM was held on held on 28th April 2024 in the Church with 5 clergy and approximately one hundred parishioners attending.

During the year the following served as members of the PCC.

Incumbent: Rev’d Timothy Bateman Clergy: Rev’d Richard Cobbold Rev’d Sarah Norbron Rev’d Ben Perkins (Associate Minister) Rev’d Janet Ruthven (Curate) Licensed Lay Ministers Representative: Mr Andrew Linn

(from induction on 27 February)

(reappointed at APCM 2024)

Wardens: Mr Colin Price (to APCM 2024) Mrs Margaret Taylor Mr Jonathan Coppock (from APCM 2024) Diocesan Synod: Mr Simon Walker (from PCC September 2024) Deanery Synod: Mrs Catherine Fewings (from APCM 2023) Mr Jonathan Coppock (from APCM 2023)

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Mr Jonathan Kelly Mrs Natasha Rees Dr David Rowell

(from APCM 2023) (from APCM 2023) (from APCM 2023)

Representatives:

Dr Leslie Bolton (Secretary) Mrs Mandy Burgess Mrs Zillah Chester Mrs Helen Cole Mrs Elizabeth Crowhurst Mrs Susan Gaskell Mrs Sarah Jones Mr John Kendall Mr Stephen Moores (Treasurer) Mr Christopher Parrott Mr Matthew Riley Mr Paul Rogers Mrs Elizabeth Rowlandson Mr Neil Seagrave Mrs Yvonne Seagrave Mr David Shervington Mrs Virginia Winkworth

(from APCM 2023) (from APCM 2024) (from APCM 2022) (from APCM 2023) (to APCM 2024) (from APCM 2023) (to APCM 2024) (from APCM 2024) (from APCM 2024) (to APCM 2024) (from APCM 2024) (from APCM 2022) (from APCM 2024) (from APCM 2023) (from APCM 2022) (from APCM 2024) (from APCM 2024)

Youth Representative: Mr Ethan Daplyn (not a Trustee)

(from PCC September 2023)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The method of election of the PCC members is as set out in the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and the church leadership team endeavours to ensure that all congregations are represented on the PCC.

All PCC members are provided with up-to-date information on their responsibilities as trustees. All safeguarding training as required by the Diocese is undertaken online and all new members benefit from ‘on-the-job’ training while attending PCC meetings, sub-committee meetings and Deanery Synod meetings as appropriate.

COMMITTEES

The PCC operates through several committees that meet between full meetings of the PCC.

STANDING COMMITTEE

This is the only sub-committee required by the Church Representation Rules. It has power to transact the business of the PCC between its meetings, subject to any directions given by the Council. It also keeps under review all PCC business matters and non-financial administration practices that are not the responsibility of any other subcommittee, agrees the agenda for PCC meetings, and prepares and

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administers contracts of employment for PCC employees for ratification by the PCC. It has authority to approve spending up to £1,000 on any individual item of expenditure, subject to reporting at the next PCC meeting.

FINANCE COMMITTEE

The Finance Committee assists the PCC and Treasurer by managing the General Fund finances, including the preparation of annual audited accounts, preparation of the Annual Finance Report and presentation at the Annual Parish Meeting. The Finance Committee oversees all the other subcommittees’ financial transactions.

MAINTENANCE COMMITTEE

The Maintenance Committee manages the repair and maintenance of church property comprising St Peter’s Church and grounds, the Parish Centre, St Peter’s House and 14 Wilton Court.

MISSION COMMITTEE

The Mission Committee manages mission activities (beyond the local mission of the congregation itself), encouraging members of St Peter’s to consider God’s call to support mission, assisting in the selection of those called, supporting them throughout their training, missionary career and eventual resettlement. It encourages an interest in Mission within the wider church family, keeping them informed. It manages the St Peter’s Mission Fund, which supports mission links and organisations financially.

SAFEGUARDING & RISK MANAGEMENT

A Risk Management policy is in place. The identification of risks and their management are devolved to the sub-committees and other groups who are most familiar with the detail of activities at their events (e.g. children’s groups, catering team). Risks are identified together with an owner, severity is assessed and the necessary countermeasures identified (often with reference to Diocesan documentation).

During the year the PCC reviewed Risk Assessments for new activities and major events, such as the Holiday Club and Light Trail.

The principal risks are in the areas of:

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Our appointed Parish Safeguarding Officers have participated fully in the Diocesan initiative to strengthen Safeguarding practices through the development of an integrated Safeguarding Dashboard. This identifies all children’s, young persons’ and vulnerable adults’ activities, compliance with safeguarding requirements and provides confidential tracking of any issues. The Dashboard is reviewed regularly at PCC meetings.

All of the current lay PCC members have completed the on-line safeguarding course required by the Diocese. The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops’ guidance on safeguarding children and vulnerable adults).

OBJECTIVES AND ACTIVITIES

The primary objective of the PCC is to promote the gospel of our Lord Jesus Christ according to the doctrine and practice of the Church of England. The PCC consults with the Vicar on matters of general concern and importance to the parish, co-operates with the Vicar, the other clergy and the Church Leadership Team in promoting in the parish the whole mission of the church – pastoral, evangelistic, social and ecumenical. There has been no change in the primary objective of the PCC during the year.

The PCC’s primary focus throughout 2024 remained on advancing the strategic priorities identified during the vacancy of an incumbent. These priorities were:

In consultation, the PCC supported the new Vicar and staff team in developing renewed vision and values for the church. The new vision statement is: "Every Life Transformed by Jesus." Our values reflect our identity as a church that is Bold, Authentic, Generous, and Faithful.

Alongside these strategic priorities, the PCC remained focused on key operational objectives, with financial sustainability being the most pressing concern. Projections indicated critically low reserves by year-end, prompting decisive action to mitigate the risk of staff redundancies through cost reductions and income generation.

PUBLIC BENEFIT

When planning the programme of activities for the year, the Vicar and the PCC have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance to charities for the advancement of religion by:

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To facilitate these activities, it is important that we maintain the fabric of the Church and Centre buildings.

ACHIEVEMENTS & PERFORMANCE

CHURCH ATTENDANCE

The typical Sunday service attendance comprises around 285 adults and 61 children and young people.

Services on special occasions are considerably higher: there was a total attendance of 554 people at services on Easter Day, and 1104 on Christmas Eve and Christmas Day (though this may include some people attending more than one service).

There were 382 adults and two young people on the Electoral Roll at the time of the 2024 Annual Parochial Church Meeting.

VOLUNTEER ENGAGEMENT

The Church is overwhelmingly a volunteer organisation with a relatively small number of staff members. As Christians, we assert that the Church is the body of Christ in which we all serve one another and the society around us: ministry, of some sort, is for every one of us. So, while many activities have staff leadership or co-ordination, very few could exist without the deep engagement of a very large number of volunteers.

The number of people who volunteer regularly for one or more activities is very similar to the typical Sunday attendance: in February 2025, we were able to identify 240 individuals who perform at least one voluntary role requiring safeguarding checks on a regular basis. These people fulfil a very wide

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range of roles, including direct ministry roles (such as licensed and ordained ministers), leadership of children’s and youth work, pastoral leadership roles, and a broad array of practical supporting roles without which few of our activities could happen. We estimate that these identifiable roles amount to around 40,000 hours in a typical year, the equivalent of well over twenty additional full-time staff.

REVIEW OF THE YEAR

In the vacancy of an incumbent, the Lay Vice-Chair, Jonathan Coppock, assumed responsibility for chairing the PCC; the Associate Minister, Ben Perkins, took on the leadership of the staff team and the pastoral and missional oversight of the church; and the church wardens, Colin Price and Margaret Taylor, oversaw the overall governance of the church. Upon the licensing of the new incumbent, Tim Bateman, on 27th February 2024, these responsibilities were formally handed over.

A key focus during this period was the development and communication of our new vision and values. Our vision is: ‘Every life transformed by Jesus.’ The vision has a dual dimension: evangelistically, it seeks to offer every person in Farnborough the opportunity to be transformed by Jesus; and with a focus on formation, it aims to see spiritual renewal in the lives of people at St. Peter’s, seeing their lives transformed by Jesus as well.

We developed four core values:

In addition to the strategic priorities identified during the vacancy (Youth and Young Adults, Outreach/Social Deprivation, Pastoral, Discipleship), one further priority was added for the year: Operational. These five strategic priorities formed the framework for our Church Development Plan, as part of the Guildford Diocese’s Parish Needs Process.

KEY ACHIEVEMENTS FOR 2024

YOUTH AND YOUNG ADULTS:

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

OUTREACH/SOCIAL DEPRIVATION:

PASTORAL CARE:

DISCIPLESHIP:

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

OPERATIONAL:

Other notable achievements include the highly successful Holiday Club, which engaged hundreds of people; the launch of a newly redesigned website; and an excellent SIAMS report from St. Peter’s Junior School, commending the strength of the school-church partnership and the invaluable contribution of our governors, many of whom are appointed by the church.

FINANCIAL REVIEW

After two previous years of deficits and initially forecasting a significant deficit for 2024, the church initiated a more open discussion on finances and financial giving as part of discipleship, with the objective of increasing donations – especially regular donations. The amazingly generous response of church members resulted in several people starting to give regularly for the first time, many donors to increase their regular giving and several significant one-off donations. Combined with some cost reductions, this resulted in a surplus for the year of over £79,000 for the General Fund.

During 2024 we made some successful applications for Grants (from the local authority, Rushmoor Borough Council) and received a donation from Waitrose to support the Christmas lunch for parishioners who might not be able to have a Christmas lunch with their family. Income from these organisations increased income by around £7,500.

The continuing generosity of church members enabled the PCC to meet its normal commitments of running and maintaining the Church and associated activities and to increase reserves.

2024 was the first year of using the new internet-based package ExpensePlus for maintaining accounting records. The new system worked well, with no major issues.

During 2024, our firm of Independent Examiners (Jacob, Cavenagh and Skeet) gave notice that they did not wish to continue as our Independent Examiner in 2025. After seeking recommendations from other church treasurers in the Guildford Diocese, we constructed a short list of three replacement firms. After interviewing these firms, Wyatt & Co was engaged.

RESERVES

The PCC does not aim to hold significant financial reserves on the grounds that our church members give their money to be used, not held. We do, however, monitor our cash position very closely and it is our policy to maintain a Reserves (Net Current Asset i.e. Cash at the Bank + Debtors – Creditors)

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balance of unrestricted funds in excess of three months (13 weeks) of critical expenditure. Critical expenditure covers staff costs and utility bills.

At 31st December 2024 the reserves comprised:

FUNDRAISING

Fundraising at St Peter’s is purely in the form of receiving free-will offerings and donations, some of which are gift-aided, from members of our congregations. We have not contracted the service of any professional fundraisers as defined by section 58 of the Charities Act 1992.

Collection boxes are available at all services, the contents of which are treated as part of our worship and handled as part of our weekly banking process. All congregations are given a summary of the financial needs of the Church as part of the Vision and Giving presentations. A card reader is also available at all services which allows church members to make donations by card.

We do not engage in persistent or intrusive fundraising practices with any of our donors, including vulnerable people, and we do not have private or coercive discussions with individuals about their giving. Our fundraising practices are ethical and in accordance with Biblical principles. No complaints were received about our fundraising practices.

PAY AND REMUNERATION

The Key Management Personnel are considered to be the members of the PCC, who are the trustees of the charity, and the Operations Manager. The arrangements for the pay and remuneration of Key Management Personnel are as follows:

No other member of the Key Management Personnel is paid.

PENSION

Staff eligibility rules for automatically joining the church pension scheme are as defined by Government legislation for “Auto-enrolment”. For staff automatically enrolled, the PCC pay a pension

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

contribution of 10% of salary (above the minimum 3% required). The contributions are charged to expenditure in the period they are due. Staff not automatically eligible may opt to join the pension scheme, but the PCC does not make any contribution to their pension.

MISSION FUND

The Mission Fund is a restricted fund (meaning that there are restrictions on how it can be spent) for giving to individuals and organisations in the mission field. During 2024, restricted income to the fund decreased from £85,316, in 2023, of which £21,803 was for a mission trip to Tanzania, to £68,272.

Included within this £68,272 is £5,839.50, previously donated for a Youth Mission Trip in 2020 and unfortunately cancelled due to Covid. The original donors were all contacted in January 2024 to discuss the use of these funds. £500 was returned to the original donor, all other donors confirmed that they were happy to remove the restriction, and that the donations should be reallocated to the Mission Fund.

During 2024 we supported 16 individuals and organisations both at home and abroad, notably our link missionaries who we encourage you to read about on our website. The individuals and organisations that we support have all been selected by the mission committee, using the criteria as set out in the mission policy 2023. This includes doing due diligence on the organisation or individuals and presenting our findings to PCC, so they can approve. The organisations and individuals are then reviewed every two years, or before if their circumstances change.

PLANS FOR THE FUTURE

In the years ahead, the PCC remains committed to supporting and resourcing the ministry of the church in pursuit of its objectives, as expressed through our Vision (‘Every life transformed by Jesus’) and Values (Bold, Authentic, Generous, Faithful).

A key strategic priority for 2025 is the appointment of key staff roles to strengthen, equip, and enable the church in its mission and ministry, ensuring the effective outworking of our vision and values.

RESPONSIBILITIES OF PCC MEMBERS

The PCC members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Charity law requires the PCC members to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the church and of its financial activities for that period.

In preparing those financial statements, the PCC members are required to:

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

The PCC members are responsible for keeping proper accounting records, which disclose with reasonable accuracy, at any time, the financial position of the church and enables them to ensure that the financial statements comply with the Charities Act 2011 and the Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The financial statements that follow have been prepared in accordance with the Charities Statement of Recommended Practice 2015, Financial Reporting Standard 102.

This report was approved by the Parochial Church Council, on 22 April 2025 and signed on their behalf by:

……………………………………………………..

Rev Timothy Bateman

PCC Chair

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

INDEPENDENT EXAMINER’S REPORT

I report to the trustees on my examination of the financial statements of the Parochial Church Council of St Peter’s Church Farnborough ('the charity') for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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

I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do 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.

Megat aa

Nigel Wyatt BSC FCA Date: 07/05/2025 Independent Examiner 125 Main Street Garforth Leeds, LS25 1AF

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

NOTE UNRESTRICTED
FUNDS
2024
£
RESTRICTED
FUNDS
2024
£
TOTAL
FUNDS
2024
£
TOTAL
FUNDS
2023
£
Income from:
Donations and legacies
Charitable activities
Investments
Other Trading Activities
Other income
Total Income
4
Expenditure on:
Charitable activities
Total Expenditure
6
Net Income /
(Expenditure) before
other recognised gains
and losses
Transfers between funds
19
Gains / (losses) on
revaluation of fixed
assets
16
Net movement in funds
Reconciliation of funds:
Total funds brought
forward
Total funds carried
forward		 543,197
76,667
619,863
442,109
36,141
1,417
37,558
45,164
1,894
733
2,628
2,328
29,639
-
29,639
19,375
597
-
597
-
611,468
78,817
690,285
508,976
536,273
68,898
605,171
583,076
536,273
68,898
605,171
583,076
75,195
9,919
85,114
(74,100)
-
-
-
-
85,000
-
85,000
(60,000)
160,196
9,919
170,115
(134,100)
1,764,834
44,907
1,809,741
1,943,841
1,925,030
54,826
1,979,856
1,809,741

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

BALANCE SHEET BALANCE SHEET
AS AT 31 DECEMBER 2024
NOTE UNRESTRICTED
FUNDS
2024
£
RESTRICTED
FUNDS
2024
£
TOTAL
FUNDS
2024
£
TOTAL
FUNDS
2023
£
Fixed Assets
Tangible Fixed Assets
16
Current Assets
Debtors
17
Prepayments
17
Cash at bank and in hand
Creditors:amounts falling
due within one year
18
Net Current Assets
Total Assets less Current
Liabilities
Creditors:amounts falling
due after one year
Net Assets
20
Funds of the Charity
Restricted Funds
19
Unrestricted Funds
19
Unrestricted General
Revaluation Reserve
Total Funds		 1,765,302
-
1,765,302
1,685,007
11,551
1,559
13,110
18,201
533
1,000
1,533
2,790
173,256
53,585
226,841
129,996
185,340
56,144
241,484
150,987
25,611
1,318
26,929
26,252
159,728
54,826
214,555
124,735
1,925,030
54,826
1.979,856
1,809,741
-
-
-
-
1,925,030
54,826
1,979,856
1,809,741
-
54,826
54,826
44,907
1,259,980
-
1,259,980
1,184,784
665,050
-
665,050
580,050
1,925,030
54,826
1,979,856
1,809,741

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH ~~ee~~

The financial statements were approved by the Parochial Church Council on 22[nd] April 2025 and signed on their behalf by:

Sil a

…………………………………………………….. …………………………………………………….. Stephen Moores Rev Timothy Bateman

Treasurer

PCC Chair

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

TOTAL
FUNDS
2024
£
TOTAL
FUNDS
2023
£
Net cash provided by (used in) operating activities
95,569
(56,513)
Cash flows from investing activities:
Dividends, interest and rents from investments
2,628
2,328
Purchase of property, plant and equipment
(1,351)
(2,575)
Net cash provided by (used in) investing activities
1,277
(247)
Change in cash and cash equivalents in the year
96,846
(56,761)
Cash and cash equivalents at the beginning of the
reporting period
129,996
186,756
Cash and cash equivalents at the end of the reporting
period
226,841
129,996
Reconciliation of Net Movement in Funds to Net Cash Flow from Operating Activities
2024
2023
£
£
Net movement in funds for the reporting period (as per
the statement of financial activities)
170,115
(134,100)
Adjustments for:
Fixed Asset Depreciation
6,056
6,039
(Increase) / decrease in debtors
5,091
2,364
(Increase) / decrease in Prepayments
1,258
(2,548)
Increase / (decrease) in creditors
1,820
13,410
Increase / (decrease) in deferred income
(1,142)
650		 95,569
(56,513)
2,628
2,328
(1,351)
(2,575)
1,277
(247)
96,846
(56,761)
129,996
186,756
226,841
129,996

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Less Interest received
Less Asset Revaluation
Net cash provided by (used in) Operating Activities
Analysis of Cash and Cash Equivalents
Cash at bank and in hand
Short term deposits
Total cash and cash equivalents		 (2,628)
(2,328)
(85,000)
60,000
95,569
(56,513)
2024
2023
£
£
226,841
129,996
-
-
226,841
129,996

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NOTES TO FINANCIAL STATEMENTS

1. BASIS OF PREPARATION

1.1 BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value, except for 2 of the PCC’s fixed asset properties, which are shown at market value.

These financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ “true and fair view” provisions, together with FRS102 (effective 1 January 2019) as the applicable accounting standards and the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)). The charity constitutes a public benefit entity as defined by FRS 102.

The church is a registered charity in England and Wales. The Trustees are the members of the PCC. Its registered place of operations is 60 Church Avenue, Farnborough, Hampshire, GU14 7AP.

1.2 GOING CONCERN

The Trustees consider the charity a going concern at the date of approving the accounts. There are no material uncertainties that the charity can continue as a going concern for the next year.

1.3 FUND ACCOUNTING

PCC funds are required to be recorded and analysed under specific headings, as follows:

General funds represent the ‘free’ funds of the PCC that are not subject to any restriction regarding their use and are available for application for the general purposes of the PCC.

Designated funds are earmarked by the PCC for particular purposes but are nevertheless still unrestricted as the PCC can redesignate the funds if it wishes.

Restricted funds are funds donated or received for a particular purpose and cannot be used by the PCC for any other purpose except by agreement with the donor. The aim and use of each restricted fund is set out in note 19 to the financial statements.

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

The funds of the PCC have been appropriately recorded to comply with fund accounting principles and the Statement of Financial Activities has been prepared in accordance with this analysis.

1.4 ACCOUNTING REQUIREMENTS

The accounts 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.

2. ACCOUNTING POLICIES

2.1 INCOME

Income is recognised and included in the Statement of Financial Activities (SoFA) when:

Donations (including collections, planned giving, standing orders, and online giving) are recognised when received. Gift Aid is accounted for in the year in which the associated donation is recognised, provided there is a valid Gift Aid declaration.

Legacies are recognised when the charity is notified of an interest in the estate, receipt is probable, and the amount can be reliably measured. Where the value cannot be reliably estimated, the legacy is treated as a contingent asset and disclosed in the notes to the accounts until sufficient information becomes available.

Grants where entitlement is not conditional on the delivery of specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.

Income resources from charitable trading activities such as the letting of property are accounted for when invoices are drawn up (as at the point of entitlement).

Donated services and facilities are included at the value to the charity where this can be quantified.

Gifts in Kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realized.

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Volunteer time, the value of voluntary support for the work of the charity, is not included in the accounts but is described in the Trustees Annual Report.

Interest is accounted for when receivable.

All incoming resources are accounted for gross. There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

2.2 EXPENDITURE AND LIABILITIES

All expenditure and liabilities are accounted for on an accruals basis. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC.

The diocesan parish share is accounted for when due.

All other expenditure is generally recognised when it is incurred and is accounted for gross.

Governance costs include costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity. Governance costs are shown within ‘Analysis of Expenditure’, note 6.

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources and the amount due to settle the obligation can be measured or estimated reliably.

2.3 ASSETS

Consecrated land and buildings and movable church furnishings

Consecrated or beneficed property is excluded from the accounts by Section 96(2)(a) of the Charities Act 1993. Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church’s Inventory which can be inspected (at any reasonable time). Inalienable property acquired prior to 1 January 2000 is not valued in the accounts. Items acquired since 1 January 2000 have been capitalized and

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

depreciated in the accounts over their currently anticipated useful economic life, (initially over 4 or 5 years) on a straight-line basis. All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £500 or on the repair of movable church furnishings acquired before 1 January 2000 is written off.

Other land and buildings

The Parish Centre is stated at historic cost. Residential properties are held under the revaluation model, valuations are periodically reviewed, and annual impairment assessments are performed. No depreciation is provided on freehold land and buildings. The PCC adopts a policy of maintaining all properties to a high standard, which prolongs their useful lives and enhances their residual values, and accordingly the PCC considers any depreciation arising or accumulated depreciation to date to be insignificant and immaterial.

Other fixtures, fittings and office equipment

Assets over the value of £500 are capitalised. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost of an asset, less its estimated residual value, over the expected useful economic life of that asset, as follows:

Debtors & Prepayments

Income tax recoverable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

2.4 PENSIONS

The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

2.5 TAXATION

The charity is exempt from tax on its charitable activities.

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

2.6 FINANCIAL INSTRUMENTS

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.7 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

There are no critical judgements, significant assumptions concerning the future and key sources of estimation of uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

3. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

The following table provides the full Statement of Financial Activities for 2023, by way of comparison with 2024.

UNRESTRICTED
FUNDS
2023
£
RESTRICTED
FUNDS
2023
£
TOTAL
FUNDS
2023
£
Income from:
Donations and legacies
Charitable activities
Investments
Other income
Total Income
Expenditure on:
Charitable activities
Total Expenditure
Net Income / (Expenditure)
before other recognised gains and
losses
Transfers between funds
Gains / (losses) on revaluation of
fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 367,351
74,758
442,109
48,748
15,792
64,540
1,588
740
2,328
-
-
-
417,687
91,289
508,976
483,001
100,075
583,076
483,001
100,075
583,076
(65,314)
(8,786)
(74,100)
(16)
16
-
(60,000)
-
(60,000)
(125,329)
(8,770)
(134,100)
1,890,164
53,677
1,943,841
1,764,834
44,907
1,809,741

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

4. ANALYSIS OF INCOME

UNRESTRICTED
FUNDS
£
RESTRICTED
FUNDS
£
TOTAL FUNDS
2024
£
TOTAL FUNDS
2023
£
Donations and legacies
Collections
Donations
Gift Aid
Grants – Gvmt & local
authority (note 5)
Grants - Other
Legacies
Charitable activities
Events and activities
PCC Fees
Other Trading Activities
Parish Centre Room Hire
Lettings
Investment Income
Interest income
Other Income
Sundry
Total Income		 6,830
2,162
8,992
7,988
442,139
58,476
500,615
356,747
89,700
11,029
100,729
74,571
2,527
5,000
7,527
1,275
-
-
-
1,428
2,000
-
2,000
100
543,196
76,667
619,863
442,109
30,597
1,417
32,014
41,209
5,544
-
5,544
3,955
36,141
1,417
37,558
45,164
17,447
-
17,447
19,375
12,192
-
12,192
-
29,639
-
29,639
19,375
1,894
733
2,628
2,328
1,894
733
2,628
2,328
597
-
597
-
597
-
597
-
611,468
78,817
690,285
508,976

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

5. ANALYSIS OF RECEIPTS OF GOVERNMENT GRANTS

2024
£
2023
£
Listed Places of Worship Grant
Closed Churchyard Maintenance Grant
(Rushmoor Borough Council)
Pride In Place Grant for mid-week kids
& youth groups (Rushmoor Borough
Council)		 1,309
498
1,217
777
5,000
-
7,527
1,275

6. ANALYSIS OF EXPENDITURE

UNRESTRICTED
FUNDS
£
RESTRICTED
FUNDS
£
TOTAL FUNDS
2024
£
TOTAL FUNDS
2023
£
Charitable activities
Staffing (notes 11 & 12)
Diocesan Parish share
Running Costs inc
utilities
Grants (note 15)
Church Activities
Repairs & Maintenance
Professional Fees
Office Support
Depreciation
Training
Total Expenditure		 227,552
939
228,491
199,229
141,481
-
141,481
135,867
68,878
825
69,703
45,267
6,379
62,700
69,079
84,747
31,981
4,344
36,325
58,850
28,269
-
28,269
24,358
18,328
10
18,338
16,126
7,008
80
7,088
7,584
6,056
-
6,056
6,039
341
-
341
5,010
536,273
68,898
605,171
583,076

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

7. VOLUNTEERS

The church benefits greatly from the voluntary contributions of time and money by members and regular attendees. Please refer to the trustees’ report for further details about volunteer contributions in the organisation.

8. FUNDS RECEIVED AS CONDUIT / AGENT

Funds received on behalf of another organisation or individual are not recognised as income belonging to the Charity and as such are not included in the Statement of Financial Activities and Balance sheet.

These funds are passed on to their intended recipient as soon as is possible. Where a balance is held at the end of the period, this is due to the timing of the transaction occurring close to the end of that period.

In 2024 St Peters acted as conduit for the following funds:

2024 2024
DESCRIPTION RELATED BALANCE HELD AMOUNT AMOUNT BALANCE
PARTY AT PERIOD RECEIVED PAID HELD AT
(YES/NO) START £ OUT PERIOD END
£ £ £
Advent Collections (to N
be distributed to - 820 - 820
nominated charities)
Bishop of Guildford
Communities Fund		 N - 237 (237) -
Cancer Research
coffee morning		 N - 1,775 (1,775) -
Church of the Good
Shepherd (Larder &
Olive branch)		 N 303 173 (476) -
restricted donations
Macmillan coffee
morning		 N 484 (484) -
Women’s Fellowship N
(donations to - 371 (313) 58
nominated charities)
Gifts to individuals N - 580 - 580

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Guildford Diocese -
Wedding & Funeral
Fees
N
Wedding & Funeral
Fees - Audio
N
Wedding & Funeral
Fees - Bellringers
N
Wedding & Funeral
Fees – Media
N
Wedding & Funeral
Fees – Musicians
N
Wedding & Funeral
Fees - Organist
N
Wedding & Funeral
Fees – Steward
N		 709
3,484
(3,010)
1,183
-
240
(240)
-
-
660
(660)
-
-
340
(340)
-
-
200
(200)
-
-
700
(700)
-
-
205
(205)
-
1,012
10,269
(8640)
2,641

9. SUPPORT COSTS

2024
£
2023
£
Staffing
Administration & Finance
Utilities
Equipment Maintenance & Renewals		 50,975
64,399
37,683
36,839
54,064
28,650
34,324
30,397
177,046
160,285

All support costs are included within the cost headings in note 6 Analysis of Expenditure.

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

10. INDEPENDENT EXAMINATION FEES

Fees payable to the Independent Examiner for independent examination were:

2024
£
2023
£
Independent Examiner’s Fees
Corporation Tax return for yr-end
31Dec2022*		 1,980
3,338
-
360
1,980
3,698

*St Peter’s is not required to complete a Corporation Tax return annually. The return was completed as part of HMRC’s program of reviewing & checking Charity accounts.

11. STAFF COSTS

The total staff costs and employee benefits for the reporting period are analysed as follows:

2024
£
2023
£
Salaries & Wages
Social security costs
Employer contributions to pension
plans
Other employee benefits
Total Employment Costs
Staff expenses & other costs
Total Staff Related Costs		 190,952
166,587
8,449
5,399
22,326
21,926
1,230
570
222,958
194,483
5,533
4,746
228,491
199,229

During the year the PCC employed a Worship Leader, two Children's Ministers, Children’s Music Group Leader, Youth Minister, Christians Against Poverty Debt Centre Manager, Operations Manager, Administration Assistant, Organist, two Caretakers and a Cleaner.

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Staff costs also include an Associate Minister, from 12 June 2023. The Associate Minister is employed by the Diocese of Guildford and recharged to St Peter’s. These costs are invoiced separately and are not included in Parish Share payments.

The Vicar is employed by the Diocese of Guildford and not by St Peter’s so their costs have not been included in the staff costs shown above but are accounted for in the payments to the Diocese of Guildford.

The total number of staff employed was 12 (2023:15).

No employees received salaries at a rate of more than £60,000 per annum.

Included in the total staff costs figures above are payments amounting to £6,602 made to 1 member of staff (2023: nil) on termination of employment. There are no outstanding balances owing at the end of the financial year.

12. KEY MANAGEMENT PERSONNEL

The charity considers its key management personnel to be the members of the PCC, who are the trustees of the charity, and the Operations Manager. Total remuneration and benefits paid to Key Management Personnel (including employer national insurance and pension contributions) was £59,158 (2023: £56,636).

13. TRUSTEE REMUNERATION, EXPENSES AND DONATIONS

During the financial year two trustees (2023: 3) were employed by St Peter’s and their remuneration / benefits are shown below. There are no outstanding balances or amounts written off during the year.

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

(2023: Remuneration to members of the PCC employed by St Peter’s also included £8,195 to Chloe Pollington, Youth Minister).

These payments are permitted under s185 of the Charities Act 2011.

Thirteen trustees received payments for expense claims during 2024 (2023: 12). These expenses are mainly related to ministry costs for providing church activities and repairs and maintenance of St Peter’s properties. The expenses reimbursed to trustees during the year totalled £8,804 (2023: £7,498).

During the year members of the PCC gave a total of £103,013 (2023: £63,903) in unrestricted offerings and donations and £12,890 (2023: £14,785) to the Mission Fund, excluding any Gift Aid recovered.

14. RELATED PARTY TRANSACTIONS

The following were connected to trustees or key management personnel of St Peter’s:

TRUSTEE OR KMP RELATED TRANSACTIONS
Rev Ben Perkins Beth Perkins (spouse) was an employee of
St Peter’s. Total employment costs for Beth in 2024 were
£30,995(2023: £27,176).
Rev Janet Ruthven (From 18 Brian Ruthven (spouse) was an employee of St Peter’s. Total
Sept 2023) employment costs for Brian from 2024 were £2,359. (From
18/9/2023: £855. Disclosure prior to this date not required
as Janet Ruthven was not a member of the PCC).
Paul Rogers Helen Rogers (spouse) was an employee of
St Peter’s. Total employment costs for Helen in 2024 were
£9,284(2023: £8,804).
Dr Leslie Bolton The Mission Committee made grant payments totalling
£2,100 to support Peter Bolton (son) at Fusion UK (2023:
£1,000).
Financial support of £1,529 made to St Peter’s Church of
England Aided Junior School
Rev Tim Bateman Tim was a governor of the school in 2024.

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Elizabeth Rowlandson Elizabeth was an employee of the school in 2024. Janet Ruthven Janet was a governor of the school in 2024. Margaret Taylor Margaret was a governor of the school in 2024. Jonathan Kelly Emily Kelly (spouse) was an employee of the school in 2024. John Kendall Brioney Kendall (spouse) was an employee of the school in 2024.

15. GRANTS

The following grants equal to or over £1,000 were made in the year:

2024 2023
£ £
Institutions
Christians Against Poverty 3,600 2,200
Emerge Advocacy 3,000 3,000
The Triangle 3,000 3,000
St Peter’s School 1,529 3,249
Emmanuel International 1,200 3,600
CORD 1,000 1,000
Open Doors 1,000 1,000
SASRA 1,000 1,000
The Source 1,000 1,000
Church of the Good Shepherd - 2,630
Bible Society - 1,000
CARE - 1,000
Tearfund - 1,000
UCCF - 1,000
Individuals
N A Pease (Stewardship) 11,400 11,400
Latin Link (M&H Frost) 6,600 6,600

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Crosslinks (J&J Miller)
Military Ministries International (G
Stoevski)
PAK7, A Hart (Stewardship)
Wavemakers (S Japitana)
Pioneers UK (H Antelo)
Serving in Mission (J&B Beaton)
Fusion UK (P Bolton)
Other Grants (£1,000 or less)
Institutions
Individuals		 6,600
6,600
6,600
6,600
6,600
6,050
4,700
7,300
3,600
3,600
3,300
5,300
2,100
1,000
1,250
1,355
-
3,263
69,079
84,747

16. TANGIBLE FIXED ASSETS

FREEHOLD LAND
& BUILDINGS
£
EQUIPMENT
£
TOTAL
£
Cost or Valuation
At 1 January 2024
Additions
Revaluations
Disposals
At 31 December 2024
Depreciation
At 1 January 2024
Depreciation Charge
Released on disposal
At 31 December 2024		 1,671,863
176,230
1,848,093
-
1,351
1,351
85,000
-
85,000
-
(19,604)
(19,604)
1,756,863
157,977
1,914,840
-
163,086
163,086
-
6,056
6,056
-
(19,604)
(19,604)
-
149,538
149,538

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Net Book Value
At 1 January 2024
At 31 December 2024		 1,671,863
13,144
1,685,007
1,756,863
8,439
1,765,302

The gross book value of freehold land and buildings consists of the Parish Centre with a cost of £681,863 and St Peter’s House and 14 Wilton Court, with a combined value of £1,075,000. The two clergy houses were valued by Michael Usher Sales & Lettings, estate agents and valuers on the basis of fair market value at 31 December 2024.

17. DEBTORS

UNRESTRICTED
FUNDS
£
RESTRICTED
FUNDS
£
2024
TOTAL
£
2023
TOTAL
£
Gift Aid recoverable
Other debtors
Prepayments		 5,614
703
6,317
16,308
5,937
857
6,793
1,892
533
1,000
1,533
2,790
12,084
2,560
14,643
20,991

Debtors recoverable in more than one year (included in debtors above):

UNRESTRICTED
FUNDS
£
RESTRICTED
FUNDS
£
2024
TOTAL
£
2023
TOTAL
£
Debtors -
857
857
1,457
-
857
857
1,457

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

UNRESTRICTED
FUNDS
£
RESTRICTED
FUNDS
£
2024
TOTAL
£
2023
TOTAL
£
Accruals for grants
payable
Taxation and social
security
Other creditors
Deferred income		 73
1,000
1,073
1,849
2,235
-
2,235
2,614
17,355
318
17,674
14,699
5,947
-
5,947
7,090
25,610
1,318
26,929
26,252

Deferred Income in 2024 is made up of:

Deferred Income in 2023 was made up of:

Movement in deferred income:

2024 2023
£ £
Balance at the start of the year 7,090 6,340
Amounts added in current period 5,947 750

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Amounts released to income from
previous periods
Balance at the end of the reporting
period		 7,090
-
5,947
7,090

19. ANALYSIS OF CHARITABLE FUNDS

Current year - 2024

AT 1 JAN
2024
£
INCOME
£
EXPENDITURE
£
TRANSFERS
£
GAINS &
LOSSES
£
AT 31 DEC
2024
£
Unrestricted
funds
General
Revaluation
Reserve
Restricted funds
General –
Restricted
Mission
Parish Building
Acts 435
Bellringers
Cricket Club
Total Funds		 1,184,784
611,468
(536,273)
-
-
1,259,979
580,050
-
-
-
85,000
665,050
-
6,375
(1,898)
-
-
4,477
5,426
68,272
(63,516)
-
-
10,182
36,607
778
-
-
-
37,385
457
2,095
(2,178)
-
-
374
2,124
910
(965)
-
-
2,069
293
387
(342)
-
-
338
1,809,741
690,285
(605,172)
-
85000
1,979,856

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

Previous year - 2023

AT 1 JAN
2023
£
INCOME
£
EXPENDITURE
£
TRANSFERS
£
GAINS &
LOSSES
£
AT 31 DEC
2023
£
Unrestricted
funds
General
Revaluation
Reserve
Restricted funds
Mission
Parish Building
Acts 435
Bellringers
Cricket Club
Charities Fund
Total Funds		 1,250,114
417,687
(483,001)
(16)
-
1,184,784
640,050
-
-
-
(60,000)
580,050
15,604
85,337
(95,516)
-
-
5,426
34,361
2,246
-
-
-
36,607
304
2,430
(2,293)
16
-
457
1,970
892
(738)
-
-
2,124
357
384
(448)
-
-
293
1,080
-
(1,080)
-
-
-
1,943,841
508,976
(583,076)
-
(60,000)
1,809,741

The Restricted Funds consist of the following funds:

Fund Purpose General - Fund opened in 2024 for restricted donations and grants awarded, for use Restricted towards direct and indirect costs associated with providing Church Activities. Mission Fund Funds raised by parishioners for the express purpose of giving away to Mission. Parish Building Funds raised for capital building projects costing £20,000 or more. It has Fund been used for the construction of the Church of the Good Shepherd, construction of the Parish Centre, restoration of the Church Tower, the Church Reordering Project and the 2018 Church Lighting Project. Acts 435 Funds received in partnership with the separate charity Acts 435 for distribution to people who are in need. Bellringers & These are funds held by the various Church Groups for the purposes Cricket Club specified. Charities The Charities Fund was closed in 2023.

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Current year - 2024

Current year - 2024
UNRESTRICTED
FUNDS
£
RESTRICTED
FUNDS
£
2024
TOTAL
£
Fixed Assets
Debtors
Prepayments
Cash at bank and in hand
Creditors: amounts falling due
within one year		 1,765,302
-
1,765,302
11,551
1,559
13,110
533
1,000
1,533
173,256
53,585
226,842
(25,611)
(1,318)
(26,929)
1,925,030
54,826
1,979,856

Previous year - 2023

Previous year - 2023
UNRESTRICTED
FUNDS
£
RESTRICTED
FUNDS
£
2023
TOTAL
£
Fixed Assets
Debtors
Prepayments
Cash at bank and in hand
Creditors: amounts falling due
within one year		 1,685,007
-
1,685,007
14,524
3,677
18,201
1,244
1,546
2,790
83,422
46,574
129,996
(19,362)
(6,890)
(26,252)
1,764,835
44,907
1,809,742

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PAROCHIAL CHURCH COUNCIL OF ST PETER’S CHURCH FARNBOROUGH

21. LEASING COMMITMENTS

Operating leases:

The operating lease charges for the year were:

Hire of Printer £1,134 (2023: £2,174)

The total future minimum lease payments under operating leases at 31 December 2024 were payable as set out below:

Within one year £936 (2023: £1,134)

Within two to five years £2,808 (2023: 3,744)

Page 39