The Parochlal Church Counell of the Eccleslastleal Parish of St Ebbe with Holy Trlnlty and St Peter Le Bailgy, Oxford Registerèd Charity Number: 1127816 Annual Report and Financial Statem8nt$ of tho Parochlal Church Councll for the year ended 315t December 2024 Wenn Townsend Chartered Accountan15 Oxford Tho Parochhl Church Council of the Ecclesiastlcal Parl8h of St Ebbe wrth Holy Trlnity and St Peter Le Bailey, Oxford Annual Report for the year ending 31st December 2024 ThLs report is prepared in accordance wth the Ch8Tilie5 kt 2011 and Ac￿unting and Reporting by Chariugs". Stslernènl ol Recommended Pracl￿e applicable to chartties preparing their a¢cLNJnts in accordance with th8 Financral Reporting Standard ap￿icable in the UK and Republi¢ of Ireland published in October 2019. and covors the activities of the Parochial Church Council during the year ended 3181 December 2024. In accordance wilh Ihe Chariltes Act 2011 the PCC is registered as a charity with the Charity Commission Icharily number 11278161. St Ebbe's Church is silualed in Pennyfarthing Place, off St Ebbe's Street, in central Oxlord. We also meet regularly al 30-34 Llme Walk, Headinglon. In 2019 Sl Ebbe's planted a churth al Grace Church Cowley, Oxford Road. Oxford OX4 2ES, whlch was granted a Bishops Mi$sitM Order in Fe￿lary 2021. Incumb•nt: Revd Canon Vaughan Roberts 2 Roger Bacon Lane Oxlord OX1 1QE Banks: Barclays Bank PIC Oxford City Centre PO Box 333 Oxford OX1 3HS CAF Bank Ltd 25 Kings Hill Avenue ngs Hill. West Mauing Kent ME19 4JQ Statutory Audltor. Wenn Townsend 30 St Giles Oxford OX1 3LE Mlnl$t•r (Opern￿onSI. Revd Tim Dossor 2 Roger Bacon Lang Oxford OX1 1QE H•adlngton Admlnlstrator: Jill G8scoigne 21 Lalimer Roatl Headinglon Oxford OX3 7PG Graco Church Cowl•y Admlnlstrator- Sophi8 Quanlrell Ilo Augusl 20241 Cristina Filtinghar Ilrom August 2024} Gra¢e Church Cowley Oxford Road Oxford OX4 2ES M•mb•rshlp During the year the folloving licenced clergy seNe(1 as members of Ihe PCC: Incumbent (Reclorl Revd Canon Vaughan Roberts- Chair Minister (Moming CorwJregalion Leaderl Revd Peter Wilkinson Curate lup lo May 20241 & Minister (Evening Congregabon Leader and Postgr8du81e Sludenlsl Revd Glenn Nesbitt Minislef IEv8ning Congregabonl Revd Josh SkK1mc￿8 Seniof Minister ISI Ebb8's, Headinglonl Revd Al Horn Minister Ioperalionsl Revd Tim Dossor Minister, Grace Church, Cowley Revd Ben Vane Churchwardens.. Suzanne Wilson-Higgins Greg Brfsk Repr8$entslives on the Deanory Synod.. Greg Brisk Rahul Ravindran Trevor Raymenl Kate Randle David S8rjud8en Suzanne Wilson-Higgins Membef of Diocesan Synod.. Julia Cameron Ilrom August 2024} Elected members of th8 PCC.. Jonathan Cook 1co.oplgd 2024-20251 Ruth Osborn- PCC S9crelary Sarah Bond Thomas Wood (until October 20241 Trevor Raymenl- Hon. Treasurer Jonathan Nicholas David Parker (until April 20241 Richard Brunt Penny Vinden Chris Whit8 Haftnah Lyman Carmen Tseng Will Waldock Robert Smith Robe¢ca Trollope Andrew Butterworth Angus Fynes-clinlon Peter Ridgway Co-opted Members of th6 PCC.. Emily Sanders {Irom June 2C$241 The Rector. elected members of the PCC. the Churchwafdèris and the Ropresenlalives on the Deanery Synod are all Trustees of the ¢harily for the purposes of charity law. Other staff members who attend PCC lfrom November 20241 (but aren't members).. Nancy-Page Lowenfield. James Weaver and Sam Herbert. Aim ofthe Church The aim of the ChLJrch is lo see God glorifie(S as we engage in three tasks: reaGhing out lo non-believers. building up Chrislians and sending out Christians lo serve. structure, Govèman¢e and Management The PCC operates through a number of Committees, which meet between full meetings of the PCC.. The Standing Committee. made up of the Rector, Churchwardens, Secretary, Treasurer and Minister (Operations), has the power lo transact some of the business of the PCC befvleen meetings and also acts as a Standing Committee of the Central Committee. The Central Committee has delegated responsibility for the work al Sl Ebb8's Cgnlral and has the following sub-committees.. The Overseas P8rtners Support Group UK Mission Group The Buildings Committee The Hardship Fund Committee The Pastoral Care Commltt8e The Finance Committee The Headinglon Committee has delegated responsibility for the work al Sl Ebbe's Headingt￿, which has the following sut￿cOmmittee5.. Headinglon Stsnding Committee Practical Support Group Buildings Committee Reaching the Nations Group (UK Overseas mission supporti Headington Finance Committee The Grace Church Cowley Committee has delegated responsibility for the work al Grace Church C(Iwley. which also operates under a Bishop's Mission Order IBMOI and has its own Buildings Gr¢)up. The Finance Comfflillee supports the Treasurer in p￿paring budgets and financial forecaslng io aid the PCC in its decision-making. The Remuneration Committee, whi¢h advises the PCC on staff ￿muneratIon and care. The Risk and Governance Commlttee, which audits, advises and makes recommendations CM the govèrnance of and risks lo Sl Ebbe's. The Safeguarding Committee, which overse8S the policy and admini51ralion of safeguarding. The PCC (Power51 mttasu￿ 1956 requires the PCC to Co-operate with Ihe minister in promoting the whole mission of the Chuich, pastoral. evangelistic, social and ecumenical. Inductlon and Training of PCC Membgrs Naw memb8rs are briefed on their lÈgal obligations und8r church and charity law, the committee and decision- rrhaking processes, the plans of the church and rg¢enl financial performance. They are encouraged to receive appropriate trainin9 to facilitate the undtrrtaking of their role. 11 is mandated that all PCC members receive training in S8f8guardin9 and are required to do 8 DBS check. Ntsrmally there is a training session before each PCC Meeting. Objèctives and activities for the publlc beneflt The objective of the charity is lo promote in the ecclesiastical parish the whole mission of the church. Thi5 IS primarily done Ihrough meeting for teaching of th8 Bible, praise and prayer in 6 congregations13 at Central. 2 in Headinglon, 1 in Cowleyl. The church also provides for work with children and young peO￿e on Sundays, al a range of midweek groups. and in school holidays. The church supports the mission of the church through prayer and linanryal support of partners overse85 and in the UK. The church also supports education through hosting the South Central Ministry Training CouTSe and supporting trainees al Iheolojical college. The church hosts a number of weddings, baptisms and funerals each year, and the Oxford Winter Night Shelter. The church aims lo see Christians bvill up for serylce through midweek Fellowship Groups IHome Groups in Headinglon, Missional Gommunities al Cowleyl. Roots for those in their 20$ and 30s, Focus and iFocus (Explore al Headinglon} for domests'c and international students, Thesis for p¢)st-gradu3le students. Men's and Women's Bible Studies. and Toddler groups. The church also aims lo reach out lo others through a varièty of avangelislic even15 as well as courses lor those investigating Ihe Christian faith {e.g. Chrisb"anity Explored). Free English Classe5 and Open Door, a homeless outreach. The Trustees have complied wilh their duly lo have due regard lo the guidance on public benefit publKsh8d by the Charity Commission in exercising their powers and duties. Grant-making poll¢le$ Annijal budgets for UK mission and international mission are sel at 6% and 19% respectively of the previous year's regular giving. The decision making on specific grants is made by the Overseas Partner5 Support Group IOPSGI and UK Mission Group IUKMGI for Central and by the Cowley committee for Grace Church Cowley and, Re8¢hing the Nations IRTNI al Headinglon. The congregations are occasionally inviled by the PCC lo contribute lo spe¢ilic appeals on behalf of designated charities. In 2024. £44,320 wa5 collected for our Harvest Offerings 12023, £40.5611 in order lo support the Sl Raphael Educational Cenler which is a school for Sudanese refugee children, Cairo and the Hope Trust Oxford. Use Of volunteers The PCC appreciates that the WOTk of Sl Ebbe's is hugely dependènl upon th8 contribution of volunteers and wishe$ to rècord ils thanks to 811 who offer their time and talents. Volunteers working with children and vulnerable adL&lls arè subject lo Safer Recruiting (including D8S che¢ksl in line with Sl Ebbe's and the Church Dr England Safegvartjing Policy. Sl Ebbe's has 8 Safeguarding officer for each base - Central.. Alison Willis,. Headington= Weena West,. Cowley.. Kendra May lunlil September 20241. Angle M&nary {from September 20241. The safegtjarding officers are supporied by staff members.. Alyson Grove Icentral Adullsl, Toby Collins (Central U18sl. Tiill Dossor (Central, Safeguarding Committee Chairll, Paul Bolton luntil June 20241. Al Horn Ifrom June 2024} (Headingtonl and Ben Vane (Cowleyl. S8fegu8rding Is a standing ffem on the PCC Agenda and the Safeguarding Policy was updated during the year Achlevgments and Performance Gengral Review of thg Year The PCC met three limes duiing the year., Local committges (Central. Headlnglon and Cowleyl mel more regularfy in between meetings. The followng main topics were considered during the yoar.. Foilowing on from the Internal Review 12021-21, the Central Committee continued Phase 2 1¢)oking al Healthier Church Culture. The Central Committee, continued work on the themes of 'Class & Dwersty, and 'Staff and Volunteering,. The PCC approved updates lo its policies on Safeguarding, Health & Safely. Data Protection and Finance. The PCC continued to discuss how to respond lo ongoing developments in General Synod concerning Ihe 'Prayers of Love arKS Faith,. In September the PCC mel with Bishop in response lo the B￿shop of Oxford's teaching and action in this area and the work related lo thi5 in the Diocese, the PCC ag￿ed with thè Diocese ol Oxford lo pay for the stipend and related costs of the Rector into a reslricled fund of the Oxford Diocesan Board of Financ* only for use in payment of stipend, pension and National Insurance costs., the PCC also approved a payment lo the Diocese towards the cost ol safeguarding,. as part of this agreement, the diocese will lake St Ebbe's out of the Parish Share sysleTn and the Diocese agreed lo re-commence the search lor a feplacemenl Rectory. The PCC continued to Consider church planting. Revd Paul Bolton lead a Church plant from Headington to siart Christ Church. Headinglon in September 2024,. the church is part of the International Presbyterian Church. Grace Church Cowley appointed an Assistant Minister, Revd James Weaver with a view lo strengthening the church and to begin exploring a ministry that might reach people outsid8 the ring road. Al Central, discussions continued, exploring a church plant to the North of Oxford. The PCC also concerned rtselfwith staff appoinlmenls, finance, safeguarding appointments, other Church of England matters, and received regular reports from committees and congregation leaders. Stsff changes durlng the year included.. Al Central.. Nathan McBroom was appointed International Minister (half timel with a vitrw to supporting and reaching out lo students and those from Easl Asia.. Richard Bestel was appointed as Children's Worker, following on from serving as a Ministry Assistanl. Al Headington.. Eleanor Clarke (Associate Minister, Woman's Events and Slud¢nlg} left lo join Christ Church, Headinglon. Paul Bolton (Minister for Children Families) left to plant Christ Church. Headinglon and Tom Midgley (Associate Minlsler, Youth and Sludenlsl moved to train for minbslry al Oak Hill College_ Sam Herbert was appointed as Minister Iwilh responsibllily for Sludentsl. Al Grace Church Cowley.. James Weaver was appointed as Assistant Minister and Sophie Quanlrell left as part- lime Administrator lo be replaced by Christina Fillingher. During the summef. Ministry Assistants both left and joined the team. 2 remained for a second year al Headington and 4 new MAS joined Central and one MA finished his time at Cowley. Those leaving us have moved lo a variety of roles and ministrie5, some remaining part of the church family in Oxford. In earty 2025, the PCC learned of allegations of abuse carried OLtI by David Fletcher, a previous Rector and then congregation member of Sl Ebbe's. A serw)us incident report has been submitted to the Gharity Commission. our insurers havè been inlomied and an independent audit of past safe9uarding practice is being commissioned. Central Sunday is Ihe main opportunity for us lo rneel together- during lemi lime we hold three serv￿eS. We addressed series on Arnos, Co105sians, Luke, Judges, Malachi, the Psalms 8nd John. Midweek meetings each day deliver our vision to rea¢h out, build up and send out. Free English Classes give those from overseas the opportunity to learn English an(J investigate the Christan f8ith'. many want lo find out more and join a Sunday group lo do so. We host the Soulh Central Gospel Partnership Ministry Training Course which Serves around fiftyfrom churches across the region. Other weekly groups include Parent & Toddlers Groups. Women's Bible Studies, Coffee Momings and Thursday Aftbrnoon Fellowship. Students meet for a meal and Bible study,. FocusliFocus for undergraduates and Thesis for posl-graduales. Many adults are members of regular Fellowship Groups whlch meet in homes. For 20$ and 305, Rools meets each week for Bible study, Prayer and encouragement. Our ministry to children, youth and their f8mllies has continued to thrlve over the year. Sundays are the locus with children's groups at the Morning and City-81-4pm services, and the youth group gathering to allend the Evening service. There has been particular growlh in younger children.. Creche10-21 and Woddlors (￿} have flourished. Week-night clubs are also held for children and teenagers. Our annual children's Holiday Bible Club mel in June. We held a variety of events throughou( the year to enable ￿0P10 lo hear the good news about Jesus. A highli9hl was a visit in June by evangelist Glen Scrivener who led a series of six meetings under Ihe theme 'JesLts changes everything,. each wim interview and talk, before preaching at each of the Sunday services. Followng this. as wdl as, each term we h051ed a group for those interested in finding out more abLiuI Christ, using course material from both Hope Explored and 321. Various groups had weekends away during the year. At Central. Youlh111-1891 and R¢Jots with Thesis Iconnecl Weekend Away) each went away. and the undergraduates had their annual student gatherings at Ledbury, Sl Ebbe's has a close relationship with The Hope Twst Oxford ITHTOI, which seeks to support ministry lo the local parish and any facing housing or social hardship. THTO employ staff to run 8 Christs'ans Against Poverty (CAP} Debl Centre and a CAP Life Skills Course. This work is strengthened by The PCC H8rdship Fund, which i8 able lo give financial support lo those with particular needs in the parish or Sl Ebbe's church. A new Hardship fund has been sel up lo be used in Cowley. Gra¢e Church Cowley Sunday attendance has continued lo grow in Cowley lo around 130 people. Children's groLtps have had to multiply due lo numbers, with a new Pathfinders group added for year 6+ These groups have also outgrown the church building with one already meeting next door al Emmaus for 2 years and now the new Pathfinders group rneeling across the road al Benfield & Loxley. Grace Church has been focussing for this last year on planning for future growth outside of our church building. Funding for an assistant minister was received from a combination of girt days and external giving. In August, James Waaverjoined the team as Assistant Minister, living in Blackbird Leys with a view lo reaching the Leys over the Goming years, eventually with a church plant, Lord-willing. St Ebbe's Headlngton 11 has been a particularfy significant year for Sl Ebbe's in Headington, with about 100 of the church family leaving la5 pl8nnedl in September lo start the new church Chrlsl Church Headington, meeting across the ring road to the east. Wonderfully, as well as a new church starting, we have found more space to re-grow numerically, and new opportunities to sèrve. Our staff team, while smaller in number now, has been boosted by the arrival of Sam Herbert as a senior colleague for Al, and with parti¢ular responsibility for students. Beth Pelersen has stepped up brilliantly into overseeing our children's mini51ry. Church Attendance Atlhe lime of the Annual Parochial Church Meeting in April 2024 there were 47412023.. 4611 on the church 8le¢loral roll, not including 71 on the Mission Roll for Grace Church Cowley. Al the Novèmber 2024 survey the joint lolal of Sunday allendance al all Ihree bases was very slighuy down lal 1282. 01 whom about 120 attend two services, many to serve childrén's groups). Thi5 doesn't in¢lude the group ofaround 100 who went from Headinglon lo begin Christ Church Headinglon. The 0-185 age group fell by over 50. mainly accounted for by those who moved to Christ Church Headinglon. Fabrlc Report No major works were urmlertaken on the church buildlng or church centre in 2024. Flnanclal Rèvlew Looking back on 2024, the key conclusion lo b8 drawn from finance, is that our Loving Lord has continued lo prov￿¢ for all of our needs. This is obvious in all of our COng￿gatiOns. In 2024, our total funds including restricted funds have increased by £178,005 in the year. Within the overall numbers there is a different story lo tell al each of our congregations. Central has been greatly blessed in 2024. During the two years prior to the end of 2023, planned Iregularl giving had reduced but during 2024 the congregation have been inspired lo increase regular giving by about 1 Oyo. Along with a substantial gift from FOSE and two gift days, resetwes have increased substantially in 2024. There remain challenges ahead, but the outcome is most encouraging. The Lord blessed Sl Ebbe's Headinglon abundantly with his financial provision in 2024. There were record levels of income in the year which prepared the church for planting a church (Christ Church Headington} in September 2024. Income from two gift days has compensated for lowei regular giving since the church family became smaller in number. Two difficult decisions were taken ahead ol Ihg church plant.. to support only existing mission partner5 and to reduce staff. Building projects have also been delayed. We pray that the Lord will regrow the church family ov8r time bul are thanklijl for the levels of reserves bulll up in the last two years. 12024: surplus £31,605, giving £184.692 nel current assets) Grace Church Cowley has been able lo bring in a new minlsler in mid-2024 who will focus efforts in Blackbird Lays and look at potential planting options in that area. This has been made rx)ssibltr by increased Congregational giving and Ihird~party donors in 2024. To Ihal end Teserves are lower12024.' £64.120. 2023 £67,345), bul we now benefit from a substantial fund for Blackbird Leys. The vast majorily of our income comes from the faithful regL¢18r giving of God's people, and we are once again thankful lo our Lord and the generosity of his people for this year's respons8. Once Gift Aid is included, in 2024 we received regular gifts of £1,340,123, an overall increase ol more ihan 9% from the previous year. We thank God for the comrnilmenl of our regular glvers, many for a great number of years and al significant personal cost. and particularly for those who have started to give regularfy this past year. Our Gift Oays in May and November are significant moments in the year and are necessary lo meet the balance of our general expenditure and for specific new expenditure. This year £305,522 was given12023.' £581,277) across our Gift Days for which we are full ol thanks ané gralilude. Friends ol St Ebbe's Trust IFOSEI has ¢onlinued lo support Ihg student w(Yk al Sl Ebbe's. and we remain exceedingly grateful lo all those fomer students who 5UPPOrt FOSE lo enabfe il lo make these donations year by year. Total expenditure, (before depreciation) in 2024 was £2,111.551 12023.. £2,050,562I There were lew items of exceptional eKpendilure. It is appropriate to remember that our priority is the proclamation ol the Good News of Jesus lo individuals, arvj appropriately our greatest costs are lo enabl& people to minister this good n8ws, either directly or indiredy. We are committed lo paying 19% of our previous year's regular incomè as grants lo support the work of the Gospel overseas and 6¥0 within the UK. {In 2024 because of the church plant project Sl Eb￿$ Hgadington restricted their external giving to ongoing SUPPOrt for pre-existing mission partners both overseas and in UK) In 2024 a total of £283,233 wa5 given away 8s grants for this work12023'. £269,095}. We also raise {￿e-Off collections for speclal causes le.g., Harve51 Offeringsl- Throughout th8 year, the PCC. each ol Ihe Local Committees and Standing Committee have been guided by the Honorary Tre35urer, Trevor Raymènl, Sarah Bond (for Grace Church Cowleyl and Phil Cope (for Headingtonl, supported by the PCC Finance Committee and the Hgadinglon Financè Committee There have been regular finance reports lo all committees. Helen Gèrry has manag@d the finances throughout the year. Day lo day financial matters have been handled by Bev Adam for Central and Cowley and by Bance from Headinglon. We are thankful for their cere and atlenlion. Slgnlflcant Events We are continually grateful lo our Lord for everyone who gives Iow8rds the work here. and very especially to those who give regularly and faithfully over many years. Our normal exptsnditure is relaty'voly predictable and stsble from year to year bul also signrfi¢8nl, and so we rernain dependent on ￿neWed generosity of giving &ach year. Senior Managem¥nt The PCC aims to align senior siaff remunoralion with the stipend scales applicable to Clergy and other lay workers within Oxtord Oio¢ese and updated by them with effect from each April. Senior managemenl. cornprising the Rector, all ministers 8nd the Minister Ioperatlonsl are paid at Incumbent levels. either in total (including housing allowance) or on a net basis where we provide housing (The Rector and Curate are paid 8 stipend by Oxford Diwese and housing or a housing allowance by PCCI. Reser¥es Policy The PCC has a reservès poI￿Y that il considers appropriate lo the financial risks of the charity, and in accordance with best pra¢lice. namely Ihal we should hold reserves in the form of net current assets sufficient to cover the equivalent of al least three months of unavoidable expen(Jilure by the church. In this context 'unavoidable" would include buildin9 and accommodalion-related costs, salaries and payroll expenses, expenditure normally mel from grants received and grant commitments to rnission partners. In cir¢umslarices where the cover might rèduce lo a minimum of 2.4 months expenditure for planned investment purposes, there should be an achievable recovery p18n alongside. It is the responsibility of each base ol Sl Ebbe's to maintain res9rves for ils own operation For the PCC general unrestricted fund, al the end of 2024 we had £196,902 of net currenl assets in the general fund12.15 months) compared lo £166.268 at the end of 2023. This is £77,655 below the PCC policy requirtrment of 3 months, expenditure but a consKlerable improvernent over the year. Headinglon held 6.3 months of reserves and Grace Church Cowley held 4 months of reserves. Prinelpal Rl¥ks and Unc•rtalntles As part ol its responsibilities Ihe PCC maintsins 8n overview of the vario(ts acliviliès ol the ¢hur¢h lo ensure that the besl cyrrent practice is followed. Pdicies arg in ￿a¢e for the folbmng particular areas of thg w¢yk of the church.. Safeguarding the Protection ol Children and VulneratAe Adults. This is an area where best pract￿8 develrys year by year. Following Church of England gumlance, we have updaled some ofour policies. praclices and Iraining during the year and the PCC has continued to give Safeguarding its priority. Towards lh¢ end of the year we began the process to recruil a new Parish Safeguarding Officer. The publica￿ of the Maknn Rev￿ in November led lo diScuss￿nS and refloclion lo leam lessons from pasl failures. Insurance. The present Padsh Plus pdicy with Ecclesiastical Insurance Group plc was established in 2000. The sums therein arè Incr8ase(J annually lo allow for inflalion and were fomially I9vigwed by Ecclgsiastscal during the year. Hoadington, Cowley and the Pennyfarthing buildings and other risks aro also in$urgd through Eccle$iastul Insurance Group plc. Financial policy and procèdures covering best pracb'ce. Wenn Townsend continue to advise on ChU￿h finances and oversee the st8ff p8yroll. The safely of monies on deposit and when invested, logether with any rate of interest where appropriate are monitored by the Finance Manager and the Treasurer who report lo the Standing Committee and the PCC regularly. Health & Sa18ty. The pdi¢y was revlewed as part ofan annual process. Th8 Flrg Safely policSos were also r8view8d and updated. Tho PCC ￿￿derS thero are two main argas of uncertainty as il boks fO￿ard.. Our regular eX￿[KIll￿re is met eaGh year from giving within the year. Wg are vgry IhanklLtI to everyonè who has ccmmilted to gNe regulady. but we remain dependent on that giving lo continue our work. We are encouraged to see an Increase in giving during the past year but are also aware of increasing expendilure commitrnents across all bases. Careful management ol our income and expendilure will be priority during this year because current gbbal un￿rtain￿'eS may exert further pressures upon donors and this might affect income. We c￿sider that recent decisions made by the Church ol England General Synod concgming the blessing of same sex couples are the r¥KJ51 Signth.￿nt threat to the ongoing work ol Sl Ebbe's. Chureh As$•ts 11 has a￿ayS been the pracliceforassets to be writtgn off in Ihg yeaf of purchase. and the cosvvalue ofthe church's fumilurg and fjquipmenl is not included in these financial sial8m8nts as a result. The ie¢enl work upon the churrh building Ilsell has been written off as the building is not owned by the PCC. However, work lo the Church Centre {including the link area and stairs lo the ehurchl and renovation of the Pennylarthing has been capilalisgd an d8preci8l&d in these accounts over 20 and 5 years respeclivety. rellecling the expected useftjl life ol these works. Plan8 for Fulurg Perlods The church's plan for the future is lo conlinutr to pursue its aim 'io see Gcrtj Glorified by engaging in three tasks.. reachlng out to non-believers, building up Christians and sending out Christians lo serve." Both the nee(1 and opportunitie5 are great, and we look lo God lo direct us and lo provid8 the means lo accornpli5h hi5 will. Ini1181 conversations have started with local churches and a landowner who is seeking lo build a housing developmenl lo the north ol OXI￿d. OLbr purpose is lo consider a now ¢hufch plant. This initiative will continue in 2025. We pray the Lord w￿1 OFen the right door al the right lime. Rttponslbllltles of the Parochial Church Councll (The Counclll The PCC is respC￿sIble lor preparing the Annual Report and the financi81 $181emenls In 8ccordance wlth applicable law and United Kingdom Accounting Standard5 (United Kingthyn Gènerally Accepted Accounting Praclicel. The law applThble to chanlies in England and Wale5 requires tho c￿r￿lI to prepare fInanCh￿ statements for each financial year which give a true and fair view of the stale ol affaiT5 of thé charity an(5 of the incoming resources and aPpI￿1￿)ft of ￿soUrceS of ihe charityfotthal period. In Pf6pariNJ these financi81 stalements lh& Council Is required lo.. sdecl Suitab￿ actsjunling and then aptAy Ihem consislendy.. observe the methods and prin¢iples in the Charilies SORP.. make judgements and estimaies that are reasonable and rKudent', stsle whether applicable accounting standards have been foll¢)wed. subiect lo any material departures disclose(l in the financial stalemenls- and - prepare the financial statements on a going-concern basis unless it is inappropriate to presume that the church will continue to operate. The Council is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the applicable Charities (Accounts and Reports) Regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Council is responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## **On behalf of the PCC** _'/ tl<-_0 &-Cs_ **Revd Canon Vaughan Roberts** **Date: 31st March 2025** **8** The Parochial Chur¢h Councll of the Ecclesiastical Parish of St Ebbe wlth Holy Trlnlty and St Peter Le Balley, Oxford Independènt Auditor's Report to Iha Trustèès of The Parish of St EbbÈ with Holy Trinity and St Pètar Le Bailey Oplnlon We have audited the finantial statement5 of The Pènsh of St Ebbe with Holy Trinity 8nd Sl P8t8r Le Bailey for the y8arended 31st Oecember 2024 which cornprise th8 S131ernenl of Financial Activib&s, the Bal8nce Sheet, the Cash Flow Statement and notes lo the financial stalemenls, incfuding a summary of significant accounb.ng policies. The financial reporting framework that has been applied in their preparation is applicabje lawand United Kingdom Accounting Stsndard$, including Financial Reporting Stsndard 102 The Finan¢i81 Rgporting Slandard applic8ble in th8 UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounting Practi￿1. In our opinion the financial statements.. give a true and fair view of the State of the charity's affairs as al 31st Oecern￿r 2024, and of 115 incorning resources and application of resources, for the year then ended., have been property prepared in accordance with Unilsd Kingdorn Generally Accepted Accovnting Practice.. and have bèen prepared in accordance with Ihe requirements of Ihe Charibe5 Act 2011. Basis for oplnion We conducted our audit in a¢Eordance wtth International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsitj'lities und8r those 51antJards are further described in the Auditor's responsibilitie5 for the audit of the financial slatemenls section of our rèport. We are itKJep8ndentofihe charity In accordance with Ihg ethical requiretnents that are r81evant lo our èudit of the financial 51alemen15 in the UK, including the FRC'S Ethical Standard, and we have fvlfilled our other elhiGg1 re5ponsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern We hav8 nolhing lo report in respect of the following matters in relation lo which the ISAS IUKI require us to report to you where.. the trusle85' uso of U)a goSng ¢￿¢&M basis ol actounting In the prepardtion of th8 finanthal statements is not appropriat8', or the Iruslees have not di5c105ed in Ihe financial statements any ident41ied malgrial unCertaint￿S that rnay cast significant dout)t abovl the chariws ability to continue to adopi the going ￿ncern basis of accounting for a peri￿ of at least twelve rnonlhs from the date ￿en the financial stat¢￿￿n￿ are aulhorisEd lor issue. other infomiallon The truste8s are responslble for the other informallon. The other infomation cornpri5e5 the information induded in Ihe tru5tee5' annual report, other than the financial slalemenls and our auditor's report the￿on. Our oginion on the financrdl statements does not cnver the Other infomiation and, ex￿pt lo the extent otherwise explicily stated in our report. we do not express any form of assur8n¢e conduslon thèr60n. In connEclion wilh our audit of the financial slatements, our re5ponsibilily 1$ to read the ¢*her inforrntlion and, in doiTrJ $0, considerwhether the olh8r information is malgrially incon51Stent with the financial slalemenls or our knowledge obtained In the audit or oth8rw15e appears lo be materially misslaled. If we identify Such material inconsistencies or apparent material mis818tern8nts, we a￿ ￿Qui￿d to dglermine whether there 1$ a rnat8rial misslalement in th& financial stalgmgnts or a malerial misslalemenl of the olher informabon. 11. based on the work we have performed, we conclude that there is a material misstaternent ol tri5 other information, wè are ￿qUired lo report that lact. Wa have nothing lo r8POrt in this regard. Matters on which we a￿ ￿qUired to report by exception We have nothin9 to report in re5pocI of the following rnatters in ￿latiOn to which the Charities (Accounts 8nd Reports) R8gulations 2008 require us lo report lo you if, in our opinion.. the inforrn8tion glven in the financial statements is in¢onsistenl in any malorial respect with the trustees, ￿port,. or sufficient accounbn9 re¢ords have not been kept". or the financi81 statements are nol In ag￿ement wlh the accounting r8cords,' or we have not received all Ihe information and expjanalions we require for our audit. The ParochSal Ghurch Councll ol the Ec¢le$iastlcal Parfsh of St Ebbe wlth Holy Trinity and St P•ter Lo Ba116y, Oxford Indep&ndont Audltor's Report to the Trustees of The Parish of St Ebbo wlth Holy Trinty and St Peter L• Ball•y Regponslbllltl¢8 of Irustees As exyained fully in the tnJslees' reswnsibl1t￿ slatement sel out ￿ page 7. the trustees are reswn5ible for thè p￿parats"(￿ ol financial ststements vthich glve a Inje and fair wew, and for such intemal control as Ihe tru8tee5 deterrnin8 18 necessary to enable the preparafy'on of financial statements that are f￿e from maleAal misstalemenl. whether due to fraud or In preparing Ihe financl81 statements, the trusteès ale respjnsible for assessing the charity's a￿'lIty to continue as a g)1 oncem. disclosing. ag applKable, rnatters rela18d to going concem and using the goiThJ Th￿Cern basis ol accc4Jnbng unless th8 tru5188s eslhg1 Inlond to IN4uidate th8 thartty or to cea¥e operatiovJ. c* have ro redt51ic but to do so. Audlt**$ respon•lbllltkn$ lor the audrt of the fln•n¢ial slaterntnts We have been app￿nted as auditor under sects.on 144 of the Charrt¢es Act 2011 and report in accordancK wrth regulalpJni made under sects"c4) 154 of that ACL Our objeclwes are lo obl8ln ￿aSOnable a95ur8nce alx>ul whether the flnenelal staleinents as a whole are free fram material misstatement, wh81hBr due to fraud or error, and lo issue an auditor'5 report Ihal includès our opinion. Reasonable assurance 15 a high 18vel of 858uranc8, bul is not a guaran18è that an audit conducl8d in accordance with ISAS IUKI will *ways detect material tnis5t8ternenl whèn Il exisls. Mi5518iem•nts ean arise from fraud or èrror and consKl8rnd materd if, indimdually or in Ihe aggregate, they could reasonably 4XP8ded to ￿llUe[￿e the ￿on0￿C ￿8￿5￿)nS of usets lakon on the basis of I￿se finarKial $tsiements. Afurther descftp￿r￿ ofourre5￿5ibl1ibe5f0r the 8uditofthe finarria Ststemenls ig1w￿ted onthe Financid Rewb"ng Counul, website at.. mw4.froor9.uklauditorsfesrthsiblitie5. Tth'5 de5CriPtion fornis part of L¥Jr 8uditor'$ report. Irregularib"es, i￿￿01n9 fraud. are instances of non-compliance with laws and regulations. We Qesign proc8duros in lin8 wth our responsibil￿lIeS, oullin8d abDV8. to dele¢l material misslalemenls in rospe¢l of Irregularities. induding fraud. The specific procedures lor this engagement and Ihe exlenl lo wh￿h these afe ¢apaNe ol detecting irreguL8rities. induding fwd ￿ delailad b810w'. ETh4uiry of manag8mant, thos• charged wilh govomance artyJEvJ acitAI and pthntial1thgati.on aThJ d8ims.' ENuiryofenkntysI8ft in tax and comp4ianc& frJn¢tions to K1enb.fyanyinstar￿aS ol￿n4cC¥mpl￿nce wih lawsarby regulatior*", Revi8wry rninute5 01 m8•tings ofilK)se charg8(I wlh goverrwnce.. ReviewTrng financial slatem8nt disd05twès t•dNJ to suP￿.rO ODwmenlallon to asse55 compll8nco with applicatrAe laws and regulati￿$., Perforrning audit Wgrk over th8 risk of man8gem8ni override of conlrol$, Induding testirg ol ioumal eniries and other adjustmÈnis for appropri8tene85, evaluating thè bu51ness rationa￿ of Significant Iransactions oulwde Ihe normal course of business and ￿VIeWIng arxounting estimates lor blas. Because of the In￿e￿nI limitatK)ns of an audiL there is a risk that *e not detert ￿1 trr8gylarttK8s. indudiNJ thow18adiNJ to material mis$￿tement in the finanoJ statemenls or n0Trc(MmrAon￿ ￿¢h re9ulalh￿. This risk Tncr8358s Ihe mor8 that complYan￿ wth a law or rngulation ts removed Ihe events and transaC￿On$ relledeil in the financi81 slalem8nis, as we will b? les5 likety io bécome ￿are of instarKes ol nonrycomFAiance. The risk Is also gRater ￿gardIng knegukqritie5 occurri due lo fra￿j rdther Ihan 81￿, as Iraud v)volves intentional con¢ealmenÈ, forgery, collusion, omis&on or misrepr8S8ntalion. U•• of our r•port This report is maée sdely to the charity's trustee$, as a body, in accordance with Part 4 olthe Charitie5 IActtyJnts and ReFK)rtsl Regulations 2008. Our oudil wort has been undertaken 80 that we mi9hl $lale lo the chanly's trustees those matters we are required lo state to them In Bn auditor's ￿pOrt and for no olhw purpDse. To the fulles¢extenl pemittted by law, we do nol accept or a5surne fe5POT>sibility to ￿yone other ¢h￿ Ihe Chanty the charitys truslees 89 81)céy, for our audit ￿. k(Ihis reFtyJrL or lor the Lyinions we have lom￿. ts.T W•nn Townsend, Ststutgry Auditor Oxford . 2025 Wenn Townsend is eltqible to act as an audttor in lemis of section 1212 of th8 Companies Act 2tXQ. 10 #￿￿0> ou) rOVC rkniDtD Jc>o ## **The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford** ## **Balance Sheet At 31st December 2024** |||**Note**||**2024**||**2023**| |---|---|---|---|---|---|---| ||||£|£|**£**|£| |**Fixed assets**||||||| |Tangible fixed assets||5a||478,471||514,963| |Investment assets||5b||249,373||219,966| |||||727,844||734,929| |**Current assets**||||||| |Stock of books|||4,688||5,003|| |Debtors||7|62,123||55,456|| |Cash at bank and in hand|||531,634||346,488|| ||||598,445||406,947|| |**Liabilities: amounts falling**||||||| |**due within one year**|**due within one year**|8|(80,825)||(74,417)|| |**Net current assets**||||517,620||332,530| |**Total assets less current liabilities**||||1,245,464||1,067,459| |Provisions for liabilities||10||||| |**Net assets**||||1,245,464||1,067,459| |**Funds**||||||| |Unrestricted|general|11||384,312||335,340| |Restricted||11||861,152||732,119| |||||1,245,464||1,067,459| Approved by the Parochial Church Council on 31st March 2025 and signed on its behalf by: C **The Revd Vaughan Roberts** VKbot Hon wal **Chairman of PCC Treasurer of PCC** **The notes on pages 14 to 30 form an integral part of these accounts.** 12 The Parochial Church Council of the E¢clèsiaslical Parlsh of St Ebbe with Holy Trinity and St Peter Lè Bailey. Oxford Statement of Cash Flows for the year ended 31st D$e•mbor 2024 Not• Total Funds 2024 Total funds 2023 Net ¢a$h u$ed by operatlng actlvltles 13 170,183 42,202 Cash flows from Investing act5vltl8S'. Income from investrnenls Investment additions 14.963 7.798 Net cash provlilèd by Snvesting actlvltles 14.963 7.798 Chang8 in cash and cash equival8nts In the ygar 185,146 50,OOQ Cash and Cash equivalents brought forward 346,488 296,488 Cash and cash equivalents carried forward 531,634 346,488 The notes on pages 13 to 28 fomi an integral part of these accounts. 13 The Parochial Church Council of the E¢cle5ia5tical Parlsh of St Ebbe wlth Holy Trlnlty and St Petèr Le Bailey, Oxlord Notes to the Financial Stataments for the yèar ended 31st December 2024 Explanatory notes on the Financlal Statements.. Basis of preparatlon and assessmant of going concern The eccounls have been prepared under the historical cost convention with itèms recognised al cost or transaction value unless otherwise stsled in the relevant notes lo these accounts. The financial ststements have bean prepared in accordance with the Slalemenl of Recommended Practice.. Accounting and Reporting by Charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} issued on October 2019 and the Financial Reportirkg Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The accounts are presented in a form81 Gompalible with the Church Accounting Regul8ts"ons 2006. The charity constilLtles a public benefit ent*ty as defined by FRS 102. The trustees considerthal there are no material uncertainties about the Trust's 8bility lo continue 8$ a going concern. The aim of the SOFA is to summartse the church income and expenditure according lo aclivily. The noles to ihe accounts divide the summarised figures in a variety of ways, which provide additional breakdown of the incomg and expenditure. The balance sheet ￿preSentS the assets and liabilities of the PCC al the end of December 2024. However. it does not include the church itself or the rectory. as well as some other chur¢h as5e15 purchased in past years. The financial slalemenis for 2024 are subject to full audit because the income for the year exceeds £1.000.000. The eneral fund comprisès the regular incom8 and the regular and predictable expenditure relating lo core church activities. Reslricled funds are d8lail&d in note 11 to the accounts and havè been received for specific purposes. Sl Ebbe's Ecclesiastical Charity (Registered Charity No. 265307115 a linked charity of which the PCC is the Managing Trustee. The funds of the charity are invested wilh CCLA Investment hrtanagemenl Limited, the income from which is applied for the malnlenance of the fabric. furniture and servi¢es ol the church. Aeeountlng policies Basls of accounting The financial statements have been prepared under the htslorical cost convention except for the valuation of investment assets and certain freehold property. Funds structure General ftjnds represent the funds of the PCC that are not sublect tts any restrictions regarding their use and arè available for application on the general purFQS¢S of th8 PCC. Funds designated for a particular purpose by the PCC are also unrestricted. Designated funds represent funds sel aside for a specified purpose by the PCC. Restricted fund5 are lo be used for specific purposes as specified by the donor. The accounts include all Iransaclions, assets anLI liabilities for wht¢h the PCC is responsible in law. They do not include the accounts of church 9roups that owe their main affiliation to another body or those that are informal gatherings of church members. 14 The Parochial Church Coun¢ll of the E¢¢lgslastical Parlsh of Sl Ebbe wlth Holy Trinity and St Peter L8 Bailgy, Oxford Notes to thè Financial Statements for the year end¢d 31st December 2024 Accounting pollcies {Gontlnuedl Income All income is recognised once the charity has enlitlemenl lo the income, il is probable that the income will be ￿ceiVed and the amount of income receivable can be measured reliably. Voluntary income and capital sour¢•$ Collections are recognised when received by or on behalf of the PCC, as is planned giving. Income tax recoverable on Gift Aid donations is recognised in the year the donation is received. Grants and lggacies to the PCC are accounted for as soon as the PCC is notified of its legal enlillernenl, the amounl due is quanlifi8ble and its ulb'mate receipt by the PCC is probable. Sales of books and magazines from th8 church booksiall are accounted for gross. Other in¢omo Rental in¢ome from the lelting of church premises is recognised when Ihe rental is due. 1111 Income from investments Dlvldends arè accounted for when due and payablo. Interèsl enliuements ar8 accountèd for as they accrue. Tax recoverable on such income is recognised in the same accounting year. Gains and losses on Invgstments Realised gains or losses are recognised when investments arè sold. Unrealised gains or losses are accounted for on revaluation of investments at 31st December 2024. ExpendituY• Liabilities ar8 racognisgd as expenditure as soon as there is a legal or constrijetive obligation committing the charity lo that expènditure, it is probable that selllemenl will be required and the amount of ob5igation can be measured reliably. Grants Grants and donations are accounted for when paid over. or when awarded, if that award creates a blnding obligation on the PCC. Actlvltles directly relating to the work of the Church Th& dio¢esan quota is accounted lor whÈn paid. Any parish share unpaid at 31st December 2024 is provided for in these accounts as an operational Ithough not a legall liability and is shown as a creditor in the Balance Sheet. Flx¢d assets Con5e¢rat•d PrO￿rtY and movable chur¢h furnlshlngs Conse¢rated and beneficed property of any kind is exclkjded from the accounts by section 9612llal of the Ch3ri1ies Act 2011. The value ol fixed assets olh&r than Ihe Parish Centre and the Pennyfarthing is not in¢iuded in the balance sheet. No value is placed on moveable church fumlshings held by the churchwardens on special Irust for the PCC an¢J which requi￿ a faculty for disposal since the PCC considers this inalienable property. l expenditure incurred in the year on consecrated or beneficed buildings and moveable thurch fumishings, whether maintenance or improvement 1$ written off as expenditure in the SOFA and separately disclosed. 15 The Parochlal Church Councll of the Ec¢lgslastlcal Parlsh of St Ebba with Ploly Trinity and St Peter Le Bailey, Oxford Notes to th¢ Flnanclal StatementB for the year endod 31st December 2024 Flxed assets (continued) oth•r property Additions to freehold and leasehold property are recognised al cost Any underlying value before cost of 8ddilions is not recognised. The propety is depreci81ed over its expected useful life as follows.. Freehold propety IParish Cenlrel- equally over 20 years straight line Other fixture$, flttlng5 and office equ4pment Equipment used within the church premises is written off in the year of purchase. Individual items of equipment with a purchase price of more than £10.000 are wrillen off when the asset is acquired bul the purchase is disclosed in the accounts. The church owns equipment used in the church offices and halls which has not been capitslisgd In the accounts bul this is not considered to have 8 material value. Investments Investrnents are valued al fair value at 31 st December 2024. Current assets Amounts owing to the PCC al 31st December 2024 in Tespecl of lees, rents or other income are shown as debtors less provision for amounts that may prove ur*coll8ctibl8. Short-lerrn deposits include cash held on deposit either with the CBF Church of England Funds or at the bank. Pensions The Church contributes lo the Church of England Funded Pensions Scheme ft)r five empfoyees. Thls is defined benefit scheme bul the Sl. Ebbe's PCC is unable to identify ils Sha￿ of the underiying assets and li8bilities- each employer in that scheme pays a common Contribution rate. For sthernes such as the Church of England Funded Pensions Schema, FRS 102 requires the Sl Ebbe's PCC lo account for pension costs on the basis of contributions aclLtally payable to the Scheme in the year and lo provide for any deficit arisin9. Contributions lo the Church of England's Church Workers Pension Builder defined contribution scheme a included in the accounts when payable. Stock Stock consists of books. Stocks are valued al the lower of cost and net realisable value. Irrecoverable VAT Irrecoverable VAT is ¢harged against the expenditure heading for which it was incurred. 16 The Parochial Church Council of thè Etclèsiastical Parish of St Ebbe with Holy Trinity #nd St P•t•r Le Bailey, Oxford Notes to the Flnancial Statements for the year endgd 31st D$combgr 2024 Income 3a Donatlons and 1gga¢ies General nrestricled Rèstriet•d funds funds Total funds 2024 Total funds 2023 Planned giving". Regular giving Income tsx re¢overable Prior year income tax recoverable Collections Gift days and donations Legacies 717.091 125,825 410.992 1,128,083 1,035,798 86,215 212,041 187,152 146,9551 2,202 581,277 1,569 301,863 609 413,216 2,178 715,079 1,146,348 911,032 2,057,380 1.759,474 3b Income from church a¢tlvltles Slud&nl conferences income Church weekends Roots & Thesis weekends away Toddler groups Other activities {<£3,000 each) 13,421 521 9,410 246 15.055 1.596 22,663 15,017 23.185 9,410 3,090 26.283 11,575 18961 12.244 3.070 15.800 2,844 11,228 38.653 38,331 76,984 41.793 3c Activltl8s for generating funds Sales of books and tapes Catering Rental income Miscellaneous income 3,420 29,360 41,103 32,997 174 61 24,020 16,493 3,594 29,421 65,123 49,490 3,682 28,926 45,418 66,079 106,880 40,748 147,628 144,105 3d Income from invÈstments Dividendslinloresl received 5,720 9.243 14.963 7,798 17 The Parochial Chur¢h Council of the Ecclesiastlcal Parish of St Ebbe with Holy Trinity and St Peter Le Bailey. Oxford Notes to the Financial Statements for the y¥ar endpd 31st Do¢ember 2024 Expenditure GÈneral unrestricted Restrlcted funds funds Total funds 2024 Total funds 2023 44 {1} Grants Missionary and charitable giving.. Overseas Mission UK Mission Other Giving (note 4a{iil} 143,817 45,275 10,497 75,091 19,050 111,052 218,908 64,325 121,548 210,382 61.473 94,669 199.590 205,192 404.782 366,524 {111 othgr GSvlng 2024 2023 Harvest giving Hope Trust Reclorfs Discretionary Fund Hardship Fund Friend5 of Sl Ebbe's Trust Catslyst fund giving Christ Church H88dington Other Giving 44,319 39.974 747 8,570 16.304 26,004 2,440 18,197 20.854 8,012 2,997 24,683 2.486 630 Total 121,548 94.669 18 The Parochial Church Coun¢ll ol th8 Ecclesiastical Parish of St Ebbe wlth Holy Trinity and St Potgr La Ball8y> Oxford Notes to th¢ Flnan¢lal Statements lor the year end&d 31st Docgmber 2024 Expendlturg Icontinued) 4b Activities dlrectly relatlng to the work of the church General Unrestricted Restrlcted funds funds Total funds 2024 Total funds 2023 Pay and ac¢ommodation= Church, parish and youth ministry including cowtey Central sludenl ministry Headington ministry Parish share Premises expen58S General repair5 and improvements Building improvements Church activities Catering Book purchases Other church costs Support costs (see note 4e) DepreciatlDn Movement in pension liability 246,268 135.617 120,245 139.608 239,124 8,000 25,525 21.103 366,513 275,225 239.124 117,000 158,383 65,257 392.901 212,311 247,030 108.837 186,456 48.405 109.000 132,858 44.154 46,527 49,340 3,001 16,518 248,203 13,742 42,281 3,273 130 7,436 68,872 22,750 88,808 52,613 3,131 23,954 317,075 36,492 53,808 52,966 2,945 56,825 284,071 36,491 1,045,228 199.590 698,347 1.743,575 1.683,045 205,192 404,782 366,524 Grants paid (see note 4alill Total expondilure 1,244,818 903,539 2,148,357 2,049,569 4¢ Staff 2024 2023 Salarfos Employer's Nl Pension '. Pension ¢onlributions paid in the year Pen510n tjeficit contribution paid Remaining change lo pension liability (see note 4dl Accommodation 812,179 74,143 796,201 72,546 99,704 94,982 205,043 146,350 1,191,069 1.110,079 19 The Parochial Church Caun¢il of the Ecclesiastical Parf$h of St Ebbe with Holy Trirtity and St Peter La Balley, Oxford Notes to the Flnan¢ial Statements for the year èndod 31st December 2024 Expendlture Icontinuedl Ordalngd Staff These PCC rnembers received payments for their services during the year: Revd Paul Bolton, Revd Tim Dossor, Revd Al Horn. Revd Glenn Nesbitt, Revd Vaughan Roberts, Revd J05h Skidmore, Revd Ben Vane, Revd Peter Wilkinson received remuneration for their duties as employees. Their level of paylslipend equalled ihat sel by the Diocese ol Oxford for Incumbents, plu5 a housing allowance (also following a diocesan level) and the Set contributions to the Church of England Funded Pension Scheme for stipendiary clergy. The aggregate remuneration. induding employer pension contributions, paid lo and on behalf of the above council members was £373,10012023'. £254,822). No remuneration was paid OT expenses reimbursed lo the Trustees in their role as Trustee during the current or p￿CedIng year apart from those ordainad members of staff mentioned above and who are automatically members of PCC in aecordance with Church Representation Rules. Ordained members ol staff labovèl who received payments from the PCC and who are aLrtomatically members of PCC in accordance with Church Representation Rules by custom do not vole in any resolution passed by the PCC. No employee received £60.000 or more during the current or preceding year. Ngither the Rector nor one of the Curales is included in the total salaries. This is because the Rector and Curate's sb'pends are met under Church of England arrangements and nol by the PCC. Housing expenses for the Rector and Curate are included under Arcommodalion. The total remuneration including employer pension contributions paid lo key management personnel by the charity was £687,82512023: £300,651). The average number of stsff employed during the ye8r wa5.. 2024 2023 Church ParishlYoL¢lh Sludenl work Headinglon Church and admin Adm￿nIstratIOn1PA Cowley Cleaning staff 412 plll 512 pll) 6(2ltl 915prt) 312 pli) 414 plt} 813 pltl 1218pltl 311 pltl 313 plll 33 Equivalent full lime staff 24 24 pl1= part lime 20 Thè Paro¢hlal Church Council of th8 Ecclesiastical Parish of St Ebb• with Holy Trinity and St Peter Le Bailey, Oxford Notes to the Flnanclal Statements for the yoar end•d 31st December 2024 Pension ¢osts st Ebbe's PCC participates in the Chufch of England Funded Pensions Scheme for stipendiary clergy, a defined benefil pensior) scheme. This scherne is administered by the Church of England Pensions Board, which holds Ihe assets of the schemes sepaTatdy from those of the Responsible Bodies. Each participating Resw)nsible Body in the scheme pays contributions al a common contribution rale applled lo pensionable stipends. The SGhem$ is considered ID be a mulli-employer scheme as described in Section 28 of FRS 102. This means il is not possible lo attTibute the Scheme's assets and liabilities lo specific Respc>nsible Body, and this means contributions are accounted for a5 if the Scheme were a defined contribution scheme. The pensions costs charged to thè SOFA in the year are conlribulions payable towards benefits and expenses accrued in Ihat year, which wère £99.704 in 202412023.. £94,982), plus any figures arising from contributions in respe¢l of the Scheme's deficit (see below). The 2021 valuation showed the Scheme lo be fully funded and as 5u¢h in 2024, following the valuation results being agreed, the deficit contributions paid were £0 12023= £01, A valuation of the Scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31st December 2021. The 2021 valuation revealed a deficit of £560m, based on assets of £2,720m and a funding target of £2,160m, assessed using the following assumptions.. An average d￿SCoUnt rate of 2.7% p.8., RPI inflation of 3.6.10 p.a. (and pension increases consistent with this)., CPIH inllation in line with RPI less 0.8% pre 2030 movirYJ lo RPI with no adjustment Irom 2030 onwards., Increase in pensionable stipends in line with CPIH., Mort81rf(y in a¢cordan¢g with 90.kn of the S3NA tables. with allowance for improvements in mortality rates in line wilh the CM12020 extended model with a long term annual ratè of impr(>vement o11.50A, a smt)0th1￿ parameter of 7, an initial addition lo mortality improvements of 0.5Yo p.a and an allowance for 2020 data of O°A li.e. w2020= 0%) Following the 31 D￿ember 2021 valuation, deficil contributions ceased with effect from 1 January 2023, since the Scheme was fully funded. The deficAt rewvery contributions under the ￿¢0very plan in force at 31 Decernbgr werè as follows.. %of ensionable sb. &nds 7.1°h payable from January 2021 to Decemtrier 2022 31 December 2021 31 Oecemb8r 2022 31 Decefflbèr 2023 An interim reduction lo deficit contributions lo 3.2Y• of pensionable stipends was made with effect from April 2022. and remained in place until December 2022. For senior office holders, pensiortable stipends are adjusted in the calculations by a multiple, 88 sel out in the Scherne's rules. 21 Tha Parochial Church Councll of thè Ecclesiastlcal Parish of St Ebbe with Holy Trinity and St Peter Le Balley, Oxford Notes to the Flnanclal Statements for the year gnd8d 31st December 2024 Penslon costs (continued) Section 28.11A of FRS 102 requires agreed deficit recovery payments lo be recognised as a liabHity. Howevtrr. as there are no agreed deficit recovery paymènts frorn l January 2023 onwards, the balance sheet liability as at 31 Decembèr 2022 is nil. The movement in the provision over 2023 and over 2024 is set out in the tsble below. 2024 2023 Balance sheet liability al 1 January 7,000 Deficit contribution paid Interest c051 Irecognised in SOFA) RemaÉning change to the balance sheet liablily" Irecognised in SOFA) 7,000 13,335 Balanc8 sheet liability at 31 De¢ember 13,335 Comprises change in agreed deficil re¢overy plan. and change In discount rale and 8s5umplions between year-ends. This liability iepresenls the present value of the deficit contributions agreed as al the accounting dale and has been valued using the following assumptions. No assumptions are needed for December 2022 as there are no agreed deficit recovery payments going forward. No price inflatK)n assumption was fteeded for Decernber 2021 since pensionable stipends for thè remainder of the recovery plan are already known. sel by reférènce to the duration ol the deficit recovery payments.. Decernber 2024 December 2023 Decomber 2022 Discount rate Price inflation Increase lo total pension8ble payroll nla nla n/8 nla nla nla nla nla The legal structure of the scheme is such that if another Responsible Body falls, Sl Ebbe's PCC could become responsible for paying 8 share of that Responsible Body's pension liabilities. Sl Ebbe's (Oxford) PCC porticipatss in the Pension Builder Scheme section of Church Workers Pension Fvnd for lay staff. The Scheme is administered by the Church of England Pensions Board. which holds the Church Workers Pension Fund assets soparalely from those of the Employer and other parb'¢ipating employers. The Church Workers Pension Fund has sections-. the Defined Benefits Scheme 2. the P8nsion Builder Scheme, which h8s iwo subsections.. a deferred annuity S8Ction known as Pension Builder Classlc, and. a cash balance section known as Pension Builder 2014. 22 Th¢ Parochial Church Council of the Ec¢lesia$tical Parish ol St Ebbè with Holy Trinity and St Peter Le Bailey, Oxford Notes to thE Finan¢ial Stat•m8nts for the year ended 31st De¢embar 2024 Pension ¢osls