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2025-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE

ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

CHARITY NUMBER 1128042

ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

I N D E X

Year ended 31 December 2025

Page
Vision statement 2
Report of the Parochial Church Council
Legal objects and function 3
Strategic aims 3
Objectives and activities 4
Achievements and performance in the year 7
Future plans 11
Financial review 13
Principal risks and uncertainties 16
Structure, governance and management 17
Trustees’ responsibilities 20
Administrative details 21
Independent auditors’ report 23
Statement of financial activities 26
Balance sheet 27
Cash flow statement 28
Notes to the financial statements 29

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

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Vision Statement Our vision: to see Jesus at the centre of every life, every marriage, every family, every and workplace, every community every nation.

We understand this to express the fundamental Christian belief that Jesus Christ is Lord of heaven and earth and all things and activities within them.

All Saints’ with St Andrew’s is a community of people in mission obeying the call of God to proclaim the Gospel in word and deed through the power of the Holy Spirit, so that this vision is fulfilled.

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The Parochial Church Council (PCC) of All Saints’ with St Andrew’s presents its annual report, together with the audited financial statements, for the year ended 31 December 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (Financial Reporting Standard 102 (FRS 102)) in preparing the annual report and financial statements of the charity.

LEGAL OBJECTS AND FUNCTION

Our objects: All Saints' with St Andrew's principal object is to promote, in the Ecclesiastical parish of Woodford Wells, the whole mission of the Church.

Our function: The PCC is the body of Trustees whose main function is to co-operate with the Vicar in promoting that whole mission - pastoral, evangelistic, social and ecumenical. It also has statutory responsibility for the care and insurance of church buildings and property, for keeping proper financial records and for a range of other statutory matters, including health and safety procedures relating to employees, volunteers and visitors.

STRATEGIC AIMS

The PCC's strategic aims are developed and expressed as mission aims against the backdrop of values and a theological framework established over many years.

Our values: Recognising the love of God for all people and his commitment to His church, the PCC and the whole church community aim to respond with whole-hearted commitment to the Lord Jesus. Our values are:

Theological framework: Our church family believes people matter to God and seeks to serve our local community irrespective of their beliefs or response. The church endeavours to present the Gospel of Christ in word and deed in the belief that all people need to know Jesus for themselves. The church also believes that most people are likely to become disciples of Jesus if church members live a Christ-like life amongst them, share the good news of Jesus, demonstrate God’s love and prayerfully expect the Holy Spirit’s power to transform individuals, communities and whole nations.

All Saints’ has become a Resource Church in the Diocese and lies at the centre of The All Saints’ Minster (“the Minster”), a Mission and Ministry Unit (“MMU”) comprising the two churches of our own parish, together with the parishes of St Cedd’s Barkingside, St Paul’s Hainault, All Saints’ Highams Park, and Holy Trinity South Woodford. In addition, we continue to support the church planted at Barking Riverside which was fully established as a church in its own right as a registered charity in November 2021. It is anticipated that Church at Barking Riverside (CBR) will transition to charitable status in 2026, being renamed as “Solomon’s House”. As a result, we have mutually agreed that CBR is graduating from our MMU and forming new partnerships for mission with churches in Barking and Dagenham. We intend to continue our support by adopting Solomon’s House (Sam and Anna Pollard) as mission partners. All Saints’ with St Andrew’s is also a member of the Evangelical Alliance and has a long standing relationship with New Wine, a Christian organisation that pursues similar objectives in the UK and overseas. We also have a relationship with Westminster Theological Centre (WTC) and act as a training hub for the delivery of some of its theological education programmes and courses.

Our mission : The PCC's aim is that the church be a worshipping community which encourages all members to live a mission lifestyle, to share resources for mission work, and to direct ourselves to bringing Jesus to the centre of every life, marriage, family, workplace and nation.

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In order to achieve these aims the PCC has developed a mission strategy for attaining its vision for the future. Although we meet in different congregations and in different church buildings the church community aims to be one worshipping community, sharing vision and values with Jesus at the centre. Within the life and activity of the church and in the resourcing and development of the Minster, our mission aims are expressed in four ways:

Presence : Jesus is brought to the centre of individual and corporate life when Christians live side by side with others, sharing their struggles and joys and building relationships of trust. In the context of these trusted committed relationships, faith can be shared at many different levels and the love of God perceived by people through Christian words and deeds.

Proclamation : Jesus is brought to the centre of individual and corporate life when Christians give voice to the Gospel - the Good News of Jesus Christ. As a church community we encourage, teach and celebrate the sharing of the Gospel both in personal testimony and through the use of creative arts.

Practical ministries : Jesus is brought to the centre of individual and corporate life when Christians demonstrate the transforming power of the Gospel through practical service and action in society. This might happen through the political process, through the charitable sector, in education or health, in partnership with local government or through expressions of kindness and care on either an individual or group level. In each case the intention is making real the transforming power of God’s love amongst his people.

Power of God : Jesus is brought to the centre of individual and corporate lives when Christians allow the power of God to confront the evil principalities and demonic powers of this current age. This might happen through ministries of deliverance and personal renewal, through peace and reconciliation ministries, through the prayerful transforming of communities in intercession or through the working of the redemption of unjust structures in society. In each case the victory of God in Christ over every form of evil is made evident in people’s lives for their blessing and benefit.

OBJECTIVES AND ACTIVITIES

Our activities : When planning activities for the year, the Vicar and the PCC consider the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. The PCC looks to its principal object and strategic aims to give structure to the activities and the objectives it sets.

Strategic priorities : In the light of on-going review and reflection by the staff and PCC, our strategic priorities continue to be on marriage and family ministry, youth and children’s work, evangelism and social action, all in the context of the evolving Minster where the PCC looks both to the immediate parish and to the resourcing of these ministries in other places.

Other key emphases : The strategic priorities and four expressions of Christian life and mission described above have led the PCC and staff to the following points of emphasis:

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Through carrying out these objectives and in promoting the whole mission of the church (pastoral, evangelistic, social and ecumenical) the PCC is confident (having had regard to Charity Commission guidance) that it delivers public benefit through community engagement, is a resource for the wider church, and supports those in need both spiritually and physically.

Parochial Ministry

The development and maintenance of a strong worshipping Christian community is achieved through the teaching in the church and online, both on Sunday and midweek, and also by running courses at a small group level to address particular aspects of Christian living. Staff members oversee the content of Sunday and other online services with significant lay involvement. Midweek courses are run by both staff and lay people with the main emphasis being on involvement in the small group life of the church. Small groups provide a significant structure for on-going pastoral care with crisis pastoral care being provided through the staff and pastoral team and through various specialist pastoral ministries of counselling and bereavement care.

To enable this to be sustained, the following activities are undertaken:

Providing materials, refreshments and occasional visiting speaker costs for services.

Much of the work is done privately, without recognition and by volunteers, and the hours and value of that time cannot be quantified.

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Parish Share

The PCC makes a voluntary contribution to the Diocese of Chelmsford’s Parish Share Scheme, which is used to meet the stipendiary cost of ordained ministry and central diocesan support structures. In return, the stipends and employment costs of our stipendiary clergy are borne by the national Church.

Grants

Individuals continue to go out from the community of All Saints' with St Andrew’s to serve God in other parts of the world. The PCC aims to maintain a level of giving to missions, agencies and individuals, both at home and overseas, whilst continuing our financial contribution to mission through the Parish Share Scheme.

External Ministry

The church community exists to proclaim the Christian gospel and serve others. The PCC places a strong emphasis on outreach and community engagement. This continues through Life Events (baptisms, weddings, funerals), through the church’s service to the community and through individual Christian witness. Encompassed within church outreach is such work as community social action projects and events, church courses that explain the Christian faith, and courses which equip people with skills to enhance marriage, family life and community life. In particular, the PCC enables the staff and church community to engage in the following activities (subject to all relevant legislation and public health guidance):

The Atrium is an expression of Christian hospitality and welcome to people from the local community as well as members of the church. It provides a place of gathering for those attending church activities but also for those who simply seek company, in this way building relationships and community.

Supporting many expressions of Christian witness, the church strives to proclaim the gospel in word and deed. Examples of these are weekly baby and toddler groups, a monthly Vintage Tea, occasional Vintage Lunches and regular “Who let the Dads out?” events for dads and toddlers, all of which encourage participation by people not part of the regular Sunday attendance community.

Serving the spiritual needs of the local community and church family at significant times in their lives.

The PCC enables the development of ministry and mission across the Minster by the sharing of financial resources, facilities and people, including staff and lay members.

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As part of the “New Wine” network of churches and leaders, we operate as a resource for other churches, sharing what we are learning from God through worship, teaching and prayer ministry. This finds expression in a range of conferences, network meetings and mentoring gatherings.

ACHIEVEMENTS AND PERFORMANCE IN THE YEAR

2025 was an encouraging year of growth in many areas of ministry. People continue to serve and give towards the church’s mission in so many ways. We have also been blessed with a much more settled staff team and are grateful for their contributions and leadership.

Volunteers

The PCC and wider church community remains grateful for the unstinting efforts of its volunteers. Approximately 375 people will have provided services to the church during this financial year. The number of hours of service provided and their value to the church cannot be estimated or quantified. We are also dependent on the leadership provided by members of the church staff team.

Staff team

Marcus Giddy came to the end of his curacy and has moved to be Team Vicar in the benefice of Benfleet, Hadleigh and Thundersley. Whilst we remain in close contact, these churches are further away geographically. We rejoice in a great appointment for them, but we have sadly not been able to extend our Minster to work as closely as we had hoped. We were delighted however to welcome our new curate, Jacob Farley , together with his family. They had to be very patient before the curate’s house became available but are now moved in and settled.

We continue to give thanks for the outstanding roles played by Rachel Whitelegg and Colette Vickers , as Operations Manager and Deputy Operations Manager. The growing workload in operational and administrative leadership, not least in safeguarding and safer recruitment, means that we need a full team. Jacinth Sundersingh (started February 2024) and Matt Weldon (started March 2024) have settled in as Operations Assistants. Hannah Rugg and Claudia Williams continue to serve and complete what is an excellent team. There is no expectation to add further to our paid staff in the office, but we are grateful for additional help from volunteers. We also remain extremely grateful for all the practical, facilities and tech roles that Bob Darby undertakes as a contractor.

We are fortunate to have the services of Catherine Farndon as Financial Assistant. Catherine stepped into this role just over a year ago and carries it out with great skill and professionalism.

The Raising Generations team, covering the whole range of work from 0-18 as well as student ministry, continues under the direction of Fiona Green . It has been a great joy to see Raissa Luz de Figueiredo and Ella Cox develop their ministries, each now in their second year on our team. We have two excellent Raising Generation pastors to work full-time alongside Fiona. The opportunities for involvement and outreach in local schools is growing and it is encouraging to have such a good team with capacity to respond. In recent years, we had additional Sunday and midweek support part-time from Deladem Fudzi , on placement as part of her training as a children’s worker. We were excited to hear that she was appointed as

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Children and Youth Worker at Saint Luke’s Cranham, testimony not only to her skills and character but also to the formation and training that she received as part of our team. Saint Andrew’s Children and Families worker, Rosie Houston has grown her ministry also, successfully restarting a midweek toddler and baby group, as well as working to ensure good provision for all ages attending Sunday worship at St Andrew’s. Her contribution to special services and outreach events during the year has led to lots of good contacts.

The worship and tech team, under the leadership of Justin Lau and Tibz Adeniyi, continues to grow and there have been many new members stepping into greater leadership. They receive excellent support from Bob Darby , especially with funerals and weddings.

As Pastoral and Prayer Co-ordinator, Helen Morris was central in establishing and supporting the pattern of online prayer meetings started during lockdown. She also oversaw our pastoral support of the church family, working closely with the Pastoral Team (under Mark Castleton ) and Counselling Team (under Lin Button ), and bereavement courses. With her retirement and move to Wales, the decision was taken not to appoint someone as a replacement and the oversight of all those areas was reviewed. Senior staff are taking greater responsibility for overseeing and encouraging the prayer life of the church, and a small team of lay leaders are working with Mark on pastoral issues.

Elaine Swinney has continued to develop our pastoral ministry as a part-time Parish Nurse. We receive regular feedback from the congregation that her ministry is greatly valued.

The Atrium continues to be at the centre of midweek church life, together with twice-monthly openings on the first two Saturdays of every month. Becca Lyons and Anastasiya Krasovska (who had been acting as maternity cover for Becca) both moved on from their roles after serving us well for several years. Nicky Langford, who shared the Atrium Manager role alongside Becca, has been confirmed as sole Atrium Manager, and we have recruited Ade Caxton-Cole as Deputy Atrium Manager. They lead the team in an excellent manner, and The Atrium remains a very significant aspect of our outreach and pastoral ministry.

Our choir continues to enrich our worship, and we remain grateful for the leadership of Bill Cumber, David Sutton, Rachel Whitelegg and others, who have ensured that the choir remains in good heart. Organists are in short supply in every context, and we are grateful to Roger Snook and Jo Cull for stepping up alongside David and Rachel when needed. The tech team continue to ensure that we can live-stream the 9.30am service (as well as the 6.30pm service). This is greatly appreciated by those who are unable to attend in person.

Celebrations and special events

We continue to believe that we should invest in conferences and celebrations which feed not only our own members but those from the surrounding area. We have also hosted conferences for Lin Button ’s Healing Prayer School, and small local events for church leaders through New Wine .

External giving

Now that Parish Share is calculated and devolved to the MMU, All Saints’ is able directly to support parishes within the Minster. In 2025 we have, in aggregate, again made a contribution to the wider Diocese, above and beyond covering our own MMU’s costs. We were also able to maintain support for mission agencies and individuals sent out in mission and were delighted with the response to the various gift days, despite concern about the cost of living and peoples’ personal circumstances. The generosity of the church family continues to be seen in a healthy Planned Giving scheme. In addition, the church family maintains its tradition of being generous to special appeals, such as the Bible drive for India and the launch of the Growing Hope Redbridge charity. However, all our streams of income are under pressure and we continue in our attempts to strengthen the Planned Giving scheme by encouraging newer members of the church to take up their responsibilities in this regard. The growth of the numbers of people participating in the scheme is

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encouraging, but pressures on our budget from energy prices, London living wage and employers’ National Insurance contributions increases mean that further growth is always needed.

Mission and Ministry as All Saints’ Minster

The All Saints' Minster continues under Paul Harcourt’s leadership. The staff team continue to develop ways to work together effectively and lead a unit comprising seven churches across six parishes.

We remain convinced that this is an exciting model for the re-evangelisation of the local area, including our own parish, and we hope that all six parishes in our minster will flourish. A large part of our energies as a Minster team is now going into the challenge of supporting the life and ministry of these other churches, especially St Cedd’s Barkingside and St Paul’s Hainault. There has been some change, most notably with Sam and Anna Pollard who have been leading Church at Barking Riverside (CBR). Funding was due to end in 2024 but was extended into 2025 and (at 50%) into 2026. As funding was not given beyond 2026, the team at CBR have decided to become an independent charity, to be known as Solomon’s House, working with churches and community groups in the Barking area. As a result, they have graduated from our Minster and formed closer partnerships with two local parishes in their area. We continue to enjoy close links and have agreed to support Solomon’s House within our annual Mission giving.

Changes in national Church funding have meant that the “Strategic Development Fund” (SDF) initiatives have ceased, such as the Barking Riverside project, to be replaced by grants given from a new Strategic Mission and Ministry Investment Board (SMMIB). The diocese was successful in their bid for projects in the Barking episcopal area and we were confirmed as one of the “Genesis Churches” identified as having experience to share in one of the key ministry themes identified. In our case, if supported, this would allow us to extend our youth and children’s ministry training to support and benefit other parishes. A decision on this is pending at the time the accounts were signed/has been delayed but it remains an exciting possibility. In the meantime we have secured a London Over the Border grant from Diocese of Chelmsford to roll out a similar project in Davenant Foundation school, hopefully starting in September 2026.

Another “theme” which was considered in the SMMIB bid was “estate church planting”. This would have been a natural next step for Marcus Giddy , but with his move, the plan is now for any project to be administered through All Saints’ Highams Park (another church in our Minster).

We continue to negotiate with the diocese for support for our wider “Resource Church” approach. We have a strong track record of successfully supporting and revitalising local parishes, but it has been based on sending leaders from within the staff team of All Saints’ and Saint Andrew’s, rather than trying to establish relationships with people not known to our congregations. We hope that this is being understood by the diocese and will lead to greater co-operation, including allowing candidates for ordination to serve their training placement here. This has been the case with Josh Green, who is training for ministry at St. Mellitus college in London. Our ideal would be for him to be offered the opportunity to serve his title post curacy here, before leading a new revitalisation 2 or 3 years into curacy.

We have been asked to oversee a possible revitalisation project at St. George’s Barkingside, a local church with great potential but with a Sunday congregation that has shrunk to around ten people. The timing of this opportunity makes it impossible to send an ordained leader from our team, but we are working with the diocese to see a leader recruited into the Minster from outside.

Creating a “pipeline” of leadership development to sustain and extend ministry and outreach is a major challenge for the years ahead. This will have to include lay leadership in a new way, rather than being reliant on stipendiary clergy. For the last few years, we have participated in the “Myriad” scheme of the Church of England, which aims to equip parishes for these new patterns, especially lay-led church planting, through a hub at All Saints’. The fruit of the eleven projects within our hub can be seen in the successful Breathe congregation for adults with special needs and their families/carers at All Saints’. Now that the first cohort

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of planters has ended, and with Marcus Giddy moving on, it has been decided not to recruit a new cohort but instead to support the fledgling projects from the first group.

New Wine Discipleship Year

We continue to run the New Wine Discipleship Year, and in partnership with the Diocese administer the remnants of a small fund which enables churches that are financially unable to support interns to experience the benefits of this significant training and development initiative. Justin Lau has developed the teaching and mission opportunities available to the students further in the last year. After a few years where there was a smaller group, we are greatly encouraged to have seven first year students in 2025-2026. Additionally, we are currently the only London training centre and therefore welcome a good number of students from other placement churches. The scheme is strong, the calibre of speakers and of training continues to be high and makes this a significant contribution to the wider Church and development of younger leaders.

Theological training

The Westminster Theological Centre local hub continues and is a significant resource for the wider church. Josh Green is in his third year as Hub Director, combining this role with his ordination placement at All Saints’. Josh formerly studied with WTC here, as well as having grown up in the church and having been previously an intern on the NW Discipleship Year scheme. There is the general benefit of continuing theological education, but we also see the hub as significant in developing leadership for our future mission plans. Recruitment remains a concern, with the cost-of-living crisis causing some people to defer their studies, but the hub continues to be healthy.

Major festivals

Easter and Christmas services were highpoints in our church life once again. Our teams worked tirelessly to ensure that they could be celebrated well, in person and online. These services were much appreciated by both the congregation and wider community. Acknowledgement should be made of the large number of people who offer their gifts and skills to make these events so successful, with the Christmas celebrations particularly being an excellent example of us working together as a church across the different services.

New Wine

All Saints’ with St Andrew’s continues to play a major role in the New Wine movement with good numbers of people from the church community both attending and working on team at conferences both in this country and abroad. Paul Harcourt stepped down as the national leader of New Wine in May 2023 but continues as a New Wine Ambassador. Paul continues to lead local network and mentoring groups for New Wine. We host other leadership gatherings, training days, and worship events for New Wine as requested. The church’s life and influence continue to be enriched through our involvement in New Wine. We aim to increase our attendance as a church group at the New Wine “United” summer festival.

Outreach

Clergy and staff have continued with the regular church outreach. The Alpha course remains our primary programme for evangelism. There have been extremely encouraging results in terms of new adult conversions.

Mark Castleton continues to head up Spirit Café, running as a monthly outreach based in Saint Andrew’s as well as a weekly “Place of Welcome” initiative. Spirit Café seeks to offer prayer ministry from a profoundly and overtly Christian basis but introducing the concepts using language that would be familiar from people outside Church, who consider themselves “spiritual but not religious”. These café evenings continue to see considerable blessing. Healing Services are also held monthly and have a loyal following.

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Prayer ministry is offered in person as well as through our online services and has been greatly appreciated.

Mission connections

The PCC continues to maintain the parish's historic commitment to the Mission Agencies and Societies with which we have links, and people have continued to be sent out from All Saints’ and St Andrew’s on shortterm mission work. The church link with the Diocese of Taita Taveta in Kenya remains but is less active. Links to South America and Egypt through Church Mission Society (CMS) are changing as a result of the return of Joe and Sarah Harvey to the UK and the forthcoming retirement of Alf and Hilary Cooper. We have increasing links through SOMA UK, for whom Paul and Becky have led several missions. Becky is also on the SOMA National leadership team. We were pleased to reach our full target for mission giving again this past year.

Creation Care

The growing awareness of the climate emergency prompted a thorough review of our stewardship of resources in 2019. A full sustainability audit was held which resulted in several areas of improvement which have been implemented by the staff team. In recent years, we have engaged in initiatives to involve and inform the congregation such as the promotion of “keep cups”, new recycling bins for disposable and biodegradable coffee cups, “car free Sunday”, and replacing our historic “Toy and Gift” day with a financial offering so that we can improve efficiency and reduce waste by enabling the supported charities to purchase only what is needed. Our tea and coffee in church is all Fairtrade-certified and we have Fairtrade accreditation as a church. Creation Care is an important aspect of our discipleship - we have a group to oversee and advise on improvements in this area. We achieved the Bronze Award for eco-excellence in 2025 but are not yet ready to implement all the requirements for the Silver Award. The group are active in encouraging good stewardship in this area throughout the congregation.

Growing Hope Redbridge

One major achievement in 2025 was the launch of a new charity, Growing Hope Redbridge, hosted at All Saints’, which aims to offer free therapy to children under 18 with additional needs, diagnosed or undiagnosed. This outreach is incredibly supportive to families, many of whom face waiting lists for therapy through the NHS of several years. They became the fifth such Growing Hope clinic in the country and were delighted to welcome Jack Davies onto team as Clinic Manager in January 2025. In the first year of operation, Jack was able to support over 40 families with therapeutic interventions, delivering over 200 hours of free therapy. However, it became evident that Jack’s skills and passion did not naturally fit what was needed for the next stage of the clinic's development and he moved into another position locally in March 2026 (happily, remaining as a member of the church family). Growing Hope Redbridge is currently recruiting for a new Clinic Manager.

FUTURE PLANS

The five priorities of our future development remain:

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The PCC and staff remain focused on growing attendance and effective mission across the MMU. Within All Saints’ we look specifically in five areas:

It is recognised that there is a growing openness to faith in society, especially amongst the young. This leads to increasing opportunities for mission, both through our existing Church ministries and in our own personal lives. The emphasis on personal evangelism needs to continue.

Challenges

We continue to face challenges in the coming year because of rising fixed costs (especially employment related) and the broader impact of the cost-of-living crisis. Increasing congregational giving is essential if we are to maintain our current levels of activity and pay fair salaries. We have a vision for growth and renewal and need to continue to pray for God’s resources to be released.

There remains the idea of All Saints’ being a “Resource Church” for the Diocese, who would be able to plant and grow new churches or revitalise existing congregations. Whilst fresh conversations have begun on the wider ministry of All Saints’, this has yet to result in anything strategic or clear. This is a challenge for the whole congregation, not only those who are specifically called and sent out. Developing a new pipeline of leaders, extending this not only to the lay staff but also to wider lay leadership, present and potential, remains a major feature of the coming season, especially with the reduction in stipendiary clergy in the Diocese.

In the wider Church, there continues to be great concern at the seismic changes agreed at the General Synod in February 2024, which approved changes to the Church’s stance on blessing same-sex marriages. The changes were controversial and only narrowly approved. In the autumn of 2025, the House of Bishops acknowledged that there were theological and legal barriers preventing them from progressing the “Living in Love and Faith” (LLF). This does not mean however that this issue has gone away, and some within the wider Church remain determined to press for change. We continue to hope and pray that the bishops will lead the Church in all godly wisdom and biblical faithfulness, and that further controversy and division can be avoided. It is important that these things do not overshadow our primary concern and calling to preach good news to all people. Whilst views vary within the church, many feel compelled to protest these changes as unbiblical and ill-conceived. Until such time as proper and sufficient pastoral protection and provision is established, we find ourselves at odds with our bishops in this diocese. Despite repeated recognition that some form of settlement is needed under which we can continue to minister in good conscience, nothing has been forthcoming from the General Synod and House of Bishops. The PCC continues to discuss what form any differentiation should take.

Finally, the PCC continues to monitor the salaries paid to our employed staff with suitable benchmarks; the PCC recognises that this is an ongoing challenge.

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FINANCIAL REVIEW

Financial Performance

Operating Activities

2025 Actual 2025 Budget 2024 Actual
Income 1,148k 1,061k 1,074k
Expenditure (1,113k) (1,148k) (1,069k)
Surplus / (deficit) 35k (87k) 5k

The 2025 operating activities budget for the parish, approved by the PCC, was to make a £87k deficit before any transfer from the Mary Lee fund to cover expenditure on the upkeep and the fabric of All Saints’. The actual result was a £35k surplus (£36k surplus for All Saints’ and £1k deficit for St Andrew’s), from £1,148k income and £1,113k expenditure.

The increase in total income against 2024 is mainly explained by legacy income of £32k (2024 - £nil) and other income increasing by £24k from £74k in 2024 to £98k in 2025. Increases were from clergy housing credit, listed places of worship VAT reclaim and employment allowance.

The activities of the church are principally funded by tax efficient giving by church members. The actual planned giving income, including income tax recoverable, increased by £11k from £707k in 2024 to £718k in 2025, an increase of 1.5%.

The average number of staff employed during the year based on full-time equivalent was 11.1 (2024 - 10.5) and staff costs were £406k (2024 - £378k), reflecting increased total payroll costs. Maintenance and repairs were up at £76k (2024 - £62k).

In the general operating activities expenditure £61k of costs were in respect of the upkeep and the fabric of All Saints’, so a transfer of £61k was made from the Mary Lee Legacy fund to the All Saints’ general fund to cover the expenditure. As there was only £27k in the cash element of the Mary Lee Legacy fund, £34k of the transfer was from the property element of the Mary Lee Legacy fund. At 31 December 2025 ownership of Vernon Avenue was split 16% general fund and 84% Mary Lee Legacy fund.

Details of the movements on the general, designated and restricted funds are shown in note 16.

Designated funds have increased by £63k, the main movement being £75k increase to the Property Maintenance fund.

Restricted funds have decreased by £63k, the main movement being £34k decrease in the Mary Lee Legacy (Property) fund.

2026 Budget

2026 Budget
2026 Budget 2025 Actual 2024 Actual
Income 1,082k 1,148k 1,074k
Expenditure (1,136k) (1,113k) (1,069k)
Surplus / (deficit) (54k) 35k 5k

The parish budget for 2026 is to make an £54k deficit on operating activities, before any transfer from the Mary Lee fund to cover expenditure on the upkeep and the fabric of All Saints’. The budgeted deficit is split £52k deficit for All Saints’ and £2k deficit for St Andrew’s.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2025

The budget assumes that planned giving, including income tax recoverable, will be £705k, £13k lower than 2025. This is a stretching target, given ongoing cost of living challenges and the significant one-off amounts given to the planned giving scheme in 2025. Charitable activities income is budgeted to be very similar to 2025. The budget assumes no income from legacies or the listed places of worship VAT scheme.

On the costs side, expectation is that expenditure will increase by £23k across the parish. The main increases are payroll and discipleship year costs, which increase by £44k (London Living Wage and high number of DY students), as well as giving to institutions due to our £7.5k commitment to Growing Hope Redbridge being an operating activities cost this year. Most other costs are budgeted to remain similar to 2025 actual, except repairs and maintenance which is budgeted to be only £47k, a 38% decrease on 2025 actual.

We acknowledge the need for the continuation of our Stewardship Campaign to encourage new and existing members of the church to commit to regular giving in a tax efficient manner.

Balance sheet position

The net assets at the balance sheet date totalled £3,200k (2024: £3,175k). Included in this figure are general fund residential properties totalling £2,031k, and general fund furniture and equipment totalling £12k. Of the remainder £668k is held in restricted funds (£569k of which is residential property), leaving £489k in unrestricted funds. Within unrestricted funds £103k is designated and £386k is general. The designated and restricted funds include £3k and £3k respectively, in the Development and Maintenance Depreciation fund, held as fixed assets, which will be used in 2026 as depreciation is charged.

The total cash balance at year end amounted to £564k of which £97k is restricted (see note 17) and of the balance £100k is designated leaving £367k available for general unrestricted funds, which is sufficient for 3.9 months of normal operating activities, based on 2026 budget figures. The Trustees believe this level of reserves is appropriate as extra cash is needed to fund the 2026 budgeted deficit on general operating activities.

The Trustees consider that the operations continue to be viable given the current rate of income and unrestricted funds.

Reserves policy

Free reserves

We are a faith community and rely principally on funding from members of the congregation as led by God. It is the PCC’s policy to maintain a balance of available general unrestricted funds in cash and bank accounts (where possible) to equate with 3 months (25%) of annual unrestricted payments, to cover emergency situations which may arise from time to time. This has been achieved at 31 December 2025.

Designated funds

The PCC may designate additional unrestricted funds to be retained for an agreed purpose where this is considered to be prudent. Such designated funds are reviewed on an annual basis and returned to the general unrestricted fund in the event that the purpose of their designation is no longer considered to be adequate justification for their retention. A description of each fund together with the intended use of the fund is set out in note 16. At 31 December 2025 total designated funds were £103k (2024: £40k).

Restricted funds

The PCC holds several restricted funds, totalling £668k at 31 December 2025 (2024: £731k). A description of each fund together with the specified use of the fund is set out in note 16.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2025

Fundraising policy

The PCC has adopted a Fundraising policy which recognises that as a charity we are dependent on the support of the members of our congregation. All regular members of the church are encouraged to participate in a committed manner, through the Planned Giving Scheme, to the general financial needs of the church. This, together with the relevant tax recoveries, is the main source of regular income to the church. We do not use external fundraisers or direct mailing to the general public.

Pay policy

The PCC aims to be recognised as a good and reasonable employer respecting the skills, abilities and personal aspirations of its staff, and seeking to help them to develop their contribution to the effectiveness of the ministry of building the Kingdom within the community. The PCC annually reviews the Pay policy in order to ensure that the pay structure fairly reflects the seniority, experience and responsibilities of its staff. The PCC pays the London Living Wage as a minimum to all staff.

Grant making policy

Grants are made to individuals and organisations to promote the fundamental Christian belief that Jesus Christ is Lord of heaven and earth. This involves helping those who are:

In carrying out this objective, the PCC continues to support a variety of societies and agencies with which the church community has a strong personal relationship. Individuals continue to go out from the community of All Saints’ with St Andrew’s to serve God in other parts of the world. Note 3d shows the amounts which have been given to individuals and organisations.

Investment policy

The PCC recognises the need for good stewardship of any excess cash balances and resources that the church may hold from time to time. In March 2022 the PCC, on the recommendation of The Risk and Governance Committee (RGC) adopted a new Investment Policy. This reflected the fact that the PCC then held significant cash balances some of which were capable of being segregated as long-term reserves and invested. The investment objective for any long-term reserves is to generate a return in line with or in excess of inflation over the long term whilst generating some income to support the ongoing activities of the Parish. The investment objective of the remaining, short-term, reserves, which are held to meet the Reserves Policy, is to preserve capital value with minimum level of risk. The RGC is authorised to research and recommend any bank deposit account that it considers suitable for the holding of short-term reserves. Any new account recommended by the RGC to the PCC will be authorised by the PCC at one of its meetings. All accounts must be capable of responding within the projected cash flow requirements of the PCC. All accounts operated by the PCC will be with institutions authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority.

The PCC has asked the RGC to monitor the cash balances and to report to it if the balances held at any single institution exceeds £250,000. At present the PCC continues to maintain slightly higher cash balances than reserves policy levels in light of its budgeted deficit for 2026 and some significant fabric and maintenance costs over the next 5 years. However, arrangements have been made with CCLA, a specialist Church and Charity fund manager, which allow the PCC, if it wishes, to invest some or all of any amount identified as long-term reserves in the CBF Church of England Investment Fund managed by CCLA. This fund fully complies with The Church of England’s ethical investment guidelines.

Details of the interest received in the year are shown in note 2d.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2025

The PCC continues to hold four residential properties for staff / discipleship year students, which are generally non-income producing and are not held as investments. Details of these are shown in note 11. As one of the properties is substantially held in a Restricted fund the RGC has recommended, following professional advice, that the general fund makes an internal rental payment per month to reflect the net rental achievable in the open market. During the year £31k was received/transferred in respect of this arrangement (2024: £27,862k). Former staff member, David Baker, lived in Vernon Avenue until the end of July 2025, so Chelmsford Diocese paid £19k in respect of his occupation of the property, and the balance £12k was an internal transfer while discipleship year students were in residence.

PRINCIPAL RISKS AND UNCERTAINTIES

The PCC is responsible for the identification, mitigation and or management of risk. To achieve this, a register of all the risks identified is maintained and, alongside it, a management and mitigation strategy formed. This is subject to review by the PCC on an annual basis with the responsibility for delivery of the mitigation strategies identified by it being delegated to the Churchwardens.

Risks

The risk register identifies four areas where the risk of either failure to act or the impact of the events is considered ‘high’. These areas and the associated mitigation strategies are:

Reduced Income: Reduction in congregational giving, particularly in a time of high inflation generally and significant cost of living challenges in energy, housing and food:

Safeguarding:

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2025

Key Staff Changes

Catastrophic Building Failure or Major Repairs

Uncertainties

The narrowly approved decision of the Church of England’s General Synod in 2024 to move ahead with the blessing of individuals in same-sex marriages, whilst not changing the established doctrine of marriage, has heightened divisions in the Church with many concluding that when implemented, the new provisions will effectively undermine centuries of established teaching and practice. Although advancement of synod decision was recognised to face legal barriers in the autumn of 2025, a degree of fracture in the worldwide Anglican Communion is apparent and concerns for the unity of the Church of England continued to be expressed.

For Churches such as All Saints’ with St Andrews, who believe that the Bible is the Word of God and that it is our authority in all things, the new provisions have increased tensions and conflict with the Diocese and its Bishops. The PCC continues prayerfully reflecting on how it should respond to the situation. However, it is acknowledged that there may be implications for the support and opportunities afforded to the Parish by the Diocese in relation to Curate posts and in other ways, and for the Parish’s willingness to provide support to the Diocese, including financially.

Related Party Transactions

The RGC is responsible for monitoring and approving any transactions with related parties (for related party transactions see note 10).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Summary Information about the structure of the Church of England

The Church of England is the established church and HM The King is its Supreme Governor. It is organised into two provinces (Canterbury and York) and 42 Dioceses. Each Diocese is a See under the care of a Bishop who is charged with the cure of souls of all the people within that geographical area. This charge is shared with priests within benefices and parishes which are sub-divisions of the Diocese.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2025

The Diocese of Chelmsford is split into three areas - Barking, Bradwell and Colchester - each with an area bishop. These areas are subdivided into archdeaconries and then deaneries. All Saints' with St Andrew's is within the Archdeaconry of West Ham, is the largest church within the Redbridge Deanery and it has formed a MMU of six parishes called All Saints’ Minster.

Organisational structure

All Saints’ with St Andrew’s is part of the Diocese of Chelmsford within the Church of England. Under the provisions of the Charities Act 2006 the parish registered separately with the Charity Commissioners in February 2009. The parish was registered as The Parochial Church Council of the Ecclesiastical Parish of All Saints Woodford Wells but throughout the year used its long established descriptive name of "All Saints' with St Andrew's”. The Charity Registration Number is 1128042 and the HMRC Charities Reference Number is X20650. Its governing documents comprise the Parochial Church Council Powers Measure (1956) (as amended) and the Church Representation Rules.

During the year ended 31 December 2025 All Saints’ remained registered as a separate Charity under the Charities Act 2011. Trustees (members of the PCC) are either ex-officio, elected by the APCM or co-opted by the PCC in accordance with the Church Representation Rules.

Title to the property interests of the PCC as at the date of this report are held on its behalf by the Chelmsford Diocesan Board of Finance as Custodian Trustee.

Decision making structure

The PCC meets 10 times a year and the Trustees are supported by the following committees which operate under Terms of Reference approved by the PCC:

Standing Committee Senior Management Team St Andrew’s Committee Risk and Governance Committee Mission Committee Hardship Fund Committee

The roles and operations of the committees are summarised below:

Standing Committee

The Standing committee of the PCC consists of the Vicar, the two Churchwardens, the Treasurer and another elected member of the PCC. There was no requirement for the Standing Committee to meet this reporting year and therefore there was no appointment of an elected member of the PCC.

Senior Management Team

The SMT carries out the detailed, day to day and routine work of the PCC between PCC meetings. The SMT is accountable to the PCC, and the Vicar reports any significant issues considered by the SMT at the next PCC meeting. The SMT meets usually once or twice a month, as required by the Vicar, who chairs the meetings.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2025

St Andrew’s Committee

This committee supports the Minister in Charge in the running of services in and outreach from St Andrew’s. It is also responsible for managing the St Andrew’s budget within the overall budget of All Saint’s with St Andrew’s as agreed by the Treasurer. It also monitors the use and allocation of any restricted funds given for St Andrew’s. The Minister in Charge makes a regular report at each PCC meeting on the development of ministry at St Andrew’s. The Committee meets 5 times a year.

Risk and Governance Committee (RGC)

The RGC supports the Treasurer in his position and provides oversight on behalf of the PCC on the governance of the church’s activities and finances, its strategy, risk management and the responsibilities of the Trustees of the PCC, including reporting to the Charity Commission and other regulatory bodies. The RGC is chaired by the Treasurer and reports any significant issue to the PCC.

Mission Committee

The Mission Committee reviews and monitors the parish’s missionary links and associations. It advises the Vicar and PCC on the financial support given to our missionaries and organises prayer support linking them to Home Groups.

Hardship Fund Committee

The Hardship Fund Committee, comprising one member of the clergy and 3 lay members, reviews requests for assistance from the hardship fund against its terms of reference and approves grants as appropriate.

The PCC's affiliations with The Evangelical Alliance, New Wine and WTC, whilst important in giving focus to its theological framework, do not impact on the operating policies adopted by the PCC in the day to day management of operations.

The PCC is aware that it remains the responsible legal body for all strategic decisions.

Trustee recruitment, selection and induction

A list of Trustees (PCC members) serving since 1 January 2025 to the date of this report is set out on page 21.

Active church members are nominated either by current PCC members or by other church members for consideration as potential Trustees. Selection is by annual election by church members at the APCM in accordance with procedures set out in the Church Representation Rules. All Trustees have to sign an annual declaration that they are a fit and proper person and that they are not disqualified from serving by the Church Representation Rules as a Trustee. Potential Trustees are required to sign the declaration prior to election at the APCM.

Newly elected Trustees are introduced into the life of the PCC at the first meeting following their election. An induction meeting is held in which their roles and responsibilities are clearly explained and the PCC is reminded at the beginning of each term of service of their responsibilities as Trustees. Ongoing teaching and training in the purposes of the church and the strategies adopted to pursue them is a feature of most PCC meetings. Trustees are also made aware of their requirements under law through legal briefing papers issued by the church’s finance team and other professionally qualified advisers and all new Trustees are issued with the Charity Commission booklet CC3 setting out the roles and responsibilities of Trustees.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2025

Remuneration of key management personnel

The PCC, as the employer of all the paid staff apart from the stipendiary clergy, seeks to pay its staff at a rate consistent with other churches of a similar size and complexity, together with relevant benefits including a non-contributory workplace pension scheme administered by Standard Life and NEST. In addition, the PCC ensures that the ratio between the lowest and highest rates of pay is fair and reasonable, reflecting the seniority, experience and responsibilities of current staff.

Salaries are reviewed annually in January and approved by the PCC. There are no employees paid in excess of £60,000 per annum, see note 7. Key personnel are listed on page 22 and details of remuneration are shown in note 7.

Delegation of day to day delivery

Some day to day decisions on expenditure and activities are delegated to the staff and volunteers in charge of different areas of the church, with budgets set and activities monitored by the PCC and the SMT. The principal delegation by the PCC is to the Vicar, Paul Harcourt, and through him to the individuals with responsibility for particular areas and functions, the senior members of which comprise the SMT. Some staff hold the title of ‘Director’, but this relates to their function within the organisation and has no legal meaning within the terminology associated with the Companies Act 2006.

Data Protection

The PCC is responsible for ensuring that the church complies with the current Data Protection Regulation. The Data Privacy Notice is available to view on the church’s website.

TRUSTEES’ RESPONSIBILITIES

The law applicable to charities in England and Wales requires the members of the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the incoming resources and application of resources during the year then ended.

In preparing those financial statements, the members of the PCC should follow best practice and are required to:

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

The members of the PCC are responsible for the maintenance and integrity of the corporate and financial information included in All Saints’ with St Andrew’s website. Legislation in England and Wales governing the preparation and dissemination of financial statements and other information included in Annual Reports may differ from legislation in other jurisdictions.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2025

STATEMENT OF DISCLOSURE TO THE AUDITORS

So far as the members of the PCC are aware:

APPOINTMENT OF AUDITORS

The re-appointment of Haslers Assurance LLP as auditors to the Parochial Church Council of All Saints’ with St Andrew’s will be proposed at the APCM.

ADMINISTRATIVE DETAILS

Church Electoral Roll As at 31 December 2024 592 Additions 131 Deletions (182) As at 31 December 2025 541

Trustees

During 2025 and to the date of this report the following served as members of the PCC in the capacities listed:

Incumbent

The Revd. Paul Harcourt (Chairman) Associate Minister The Revd. Mark Castleton Curate The Revd. Marcus Giddy (to October 2025) The Revd. Jacob Farley (from July 2025) Diocesan Synod Heather Housden Deanery Synod Anne Sachs Frank Hawkins Mark Baster (from September 2025) Mary Nunns Nersen Pillay (from June 2025) Otis Griffin (from May 2025) Sophia Burley (to April 2025) Stella Redburn Stephen Green (to April 2025) Churchwardens Heather Housden (Vice Chair) Nicholas Gray Deputy Wardens Joshua Green (to April 2025) Karen Watling (from May 2025) Matt Jackson Hon Treasurer Frank Hawkins Elected PCC Members Daniel Vickers Gillian Hampton Hannah Weldon (from May 2025)

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2025

Josephine Smith Lydia Joiner (to April 2025) Neka Ekine (to April 2025) Nersen Pillay (to May 2025) Paul Sherrington Sheila Oakes Terence Stamp

During 2025 the following staff attended PCC meetings by invitation: Pastoral and Prayer Co-ordinator Helen Morris (to April 2025) Director of Youth, Children’s and Families Ministry Fiona Green Leader of Pastoral Ministry Lin Button Worship and Discipleship Year Pastor Justin Lau Worship and Creative Pastor Tibz Adeniyi Ordinand In Training Joshua Green (from May 2025)

Key personnel: The church regards the following people as key personnel: Church leaders The Revd. Paul and Becky Harcourt Associate minister The Revd. Mark Castleton Churchwarden Heather Housden Churchwarden Nicholas Gray Treasurer Frank Hawkins Operations Manager Rachel Whitelegg Director of Children, Youth and Family Ministry Fiona Green Worship and Discipleship Year Pastor Justin Lau Worship and Creative Pastor Tibz Adeniyi Pastoral and Prayer Co-ordinator Helen Morris (to April 2025)

Registered Office : The Parish Office of All Saints’ with St Andrew’s Inmans Row, Woodford Green, Essex, IG8 0NH

Bankers : HSBC Bank plc 74 High Street, Ilford, IG6 2GN Deposit holders : Scottish Widows plc 67 Morrison Street, Edinburgh, EH3 8YJ Church of England Central Board of Finance Senator House, 85 Queen Victoria Street, London, EC4V 4ET

Auditors : Haslers Assurance LLP Old Station Road, Loughton, Essex, IG10 4PL Solicitors : Winckworth Sherwood Minerva House, 5 Montague Close, London, SE1 9BB

This report was approved by the PCC on 23 March 2026 and signed on its behalf by:

Revd. Paul Harcourt Vicar

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I N D E P E N D E N T A U D I T O R S ’ R E P O R T

Year ended 31 December 2025

Opinion

We have audited the financial statements of The Parochial Church Council of the Ecclesiastical of All Saints Woodford Wells (the 'charity') for the year ended 31 December 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities 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 relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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I N D E P E N D E N T A U D I T O R S ’ R E P O R T

Year ended 31 December 2025

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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I N D E P E N D E N T A U D I T O R S ’ R E P O R T

Year ended 31 December 2025

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Haslers Assurance LLP

Chartered Accountants Statutory Auditor Old Station Road Loughton IG10 4PL

23 March 2026

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S

Year ended 31 December 2025

Notes
Income from
Donations and legacies
2a
Charitable activities
2b
Other trading activities
2c
Investments
2d
Other
2e
Total income
Expenditure on
Raising funds
3a
Charitable activities
Parochial ministry
3b
Parish share
3c
Grants
3d
External ministry
3e
Total expenditure
Net income / (expenditure)
Transfers between funds
16
Net movements in funds for the year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
807,318
226,931
0
14,698
98,448
1,147,395
546
389,579
240,959
25,329
473,406
(1,129,819)
17,576
70,724
88,300
2,443,704
2,532,004		 Restricted
Funds
£
83,655
3,510
14,749
2,856
29,314
134,084
4,558
32,495
0
81,292
8,283
(126,628)
7,456
(70,724)
(63,268)
731,063
667,795		 Total
2025
£
890,973
230,441
14,749
17,554
127,762
1,281,479
5,104
422,074
240,959
106,621
481,689
(1,256,447)
25,032
0
25,032
3,174,767
3,199,799		 Total
2024
£
883,931
239,761
10,052
21,729
101,459
1,256,932
2,270
455,234
220,497
107,216
422,809
(1,208,026)
48,906
0
48,906
3,125,861
3,174,767

All income and expenditure derive from continuing activities.

The accompanying notes on pages 29 to 48 are an integral part of these financial statements.

26

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

B A L A N C E S H E E T

Year ended 31 December 2025

Notes
Fixed assets
Tangible fixed assets
11
Current assets
Debtors
12
Cash at bank and in hand
13
Creditors: amounts falling due within one year
14
Net current assets
Net assets
Represented by:
Unrestricted revenue fund - general
16a
Unrestricted revenue fund - designated
16b
Total unrestricted funds
Restricted funds
16c
Total funds		 2025
£
2,618,739
64,901
563,648
628,549
(47,489)
581,060
3,199,799
2,429,144
102,860
2,532,004
667,795
3,199,799		 2024
£
2,619,607
25,474
575,607
601,081
(45,921)
555,160
3,174,767
2,403,778
39,926
2,443,704
731,063
3,174,767

The accompanying notes on pages 29 to 48 are an integral part of these financial statements.

The members of the PCC acknowledge their responsibility for ensuring the church keeps proper accounting records in accordance with the requirements of the Charities Act 2011 as more fully set out in the statement of Trustees’ responsibilities in the Trustees’ Report.

The financial statements on pages 26 to 48 were approved by the Parochial Church Council on 23 March 2026 and were signed on its behalf by:

Frank Hawkins Treasurer

27

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

C A S H F L O W S T A T E M E N T

Year ended 31 December 2025

CASH FLOW STATEMENT
Cash flows from operating activities:
Net cash inflow/(outflow) from operating activities
Cash flows from investing activities
Purchase of fixed assets
Net cash inflow/(outflow) from investing activities
Cash flows from financing activities
Net cash inflow/(outflow) from financing activities
Change in cash and cash equivalents in
the year ended 31 December
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the reporting
period
RECONCILIATION OF NET MOVEMENTS
IN FUNDS TO NET CASH FLOW FROM
OPERATING ACTIVITIES
Net movement in funds for the year (as per the
statement of financial activities)
Adjustments for:
Depreciation charges
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash inflow/(outflow) from operating activities
ANALYSIS OF CASH AND CASH
EQUIVALENTS
Cash in hand
Notice deposits (less than 3 months)
Total cash and cash equivalents		 (12,906) 2025
£
947
(12,906)
0
(11,959)
575,607
563,648

25,032
13,774
(39,427)
1,568
947

230,067
333,581
563,648		 (37,959)

 2024
£
50,901

(37,959)
0
12,942
562,665
575,607
48,906
10,549
30
(8,584)
50,901
159,892
415,715
575,607

28

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

1. ACCOUNTING POLICIES

The financial statements have been prepared on a going concern basis under the historical cost convention, with the exception of freehold properties, which are included at their fair value as determined under the applicable valuation method as detailed in c). The financial statements have been prepared in accordance with the Charities Act 2011 together with the ‘Statement of Recommended Practice’ for Charities (SORP 2015), and the applicable accounting standard (FRS102).

The financial statements include all the transactions, assets and liabilities for which the Parochial Church Council (PCC) is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body or those which are informal gatherings of church members.

The financial statements are presented in sterling, which is the functional currency of the charity, and rounded to the nearest pound sterling. The principal accounting policies and estimation techniques are as follows.

a) Income

All income is included in the Statement of Financial Activities when the PCC is legally entitled to them as income or capital respectively, ultimate receipt is probable and the amount to be recognised can be quantified with reasonable accuracy.

b) Expenditure

Expenditure is included on the accruals basis and has been classified under headings that aggregate all costs related to the relevant category in the Statement of Financial Activities.

29

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

c) Tangible fixed assets and depreciation

Freehold properties

There are two classes of freehold property: land and buildings which are held at cost after impairment and residential properties which are held at deemed cost (see note 11).

Depreciation is not provided on land and buildings or residential properties as any provision (annual or cumulative) would not be material due to the very long expected remaining useful economic life in each case, and because their expected residual value is not materially less than their carrying value. The PCC has a policy of regular structural inspection, repair and maintenance and properties are therefore unlikely to deteriorate or suffer from obsolescence. In addition, disposals of properties occur well before the end of their economic lives and disposal proceeds are usually not less than their carrying value. The PCC perform annual impairment reviews in accordance with the requirements of FRS102 to ensure that the carrying value is not more than the recoverable amount.

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the Financial Statements by Section 10(2)(a) of the Charities Act 2011. No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC consider this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable furnishings, whether maintenance or improvements, is written off as incurred.

Plant and machinery

Individual items of plant and machinery used within the church premises with a purchase price of over £10,000 are capitalised, items with a purchase price of £10,000 or less when the asset is acquired are written off as incurred. Capitalised plant and machinery is depreciated on a straight line basis over 10 years.

Fixtures, fittings and equipment

Individual items of fixtures, fittings and equipment used within the church premises with a purchase price of over £10,000 are capitalised, items with a purchase price of £10,000 or less when the asset is acquired are written off as incurred. Capitalised fixtures, fittings and equipment are depreciated on a straight line basis over 4 years.

30

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

d) Taxation

As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value added tax is not recoverable by the organisation and is therefore included in the relevant costs in the Statement of Financial Activities.

e) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

f) Fund balances

Fund balances are split between unrestricted (general and designated), and restricted funds.

g) Judgements and estimates

In the application of the accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

Significant judgements

Sources of estimation uncertainty

In the view of the Trustees there are no sources of estimation uncertainty affecting assets or liabilities at the balance sheet date that are likely to result in a material adjustment to their carrying amounts in the next financial year.

31

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

2.
INCOME FROM
(a) Donations and legacies
Planned giving
Collections at services
Gift days
Other gifts
Legacies
Income tax recoverable (see * on page 33)
(b) Charitable activities
Site rental
The Atrium
New Wine discipleship year
Fees
Outreach events
WTC hub
Audio, visual and distributed materials
New Wine activities
(c) Other trading activities
Annual sale
Concerts
(d) Investments
Bank interest
(e) Other
Diocese housing credit
Rental income
Sundry income
Total income		 Unrestricted
Fund
£
596,195
36,431
0
20,968
31,787
121,937
807,318
118,423
58,126
18,750
14,558
11,708
4,216
1,150
0
226,931
0
0
0
14,698
14,698
75,900
2,140
20,408
98,448
1,147,395		 Restricted
Funds
£
0
0
26,735
46,773
0
10,147
83,655
0
0
3,085
425
0
0
0
0
3,510
9,848
4,901
14,749
2,856
2,856
0
29,314
0
29,314
134,084		 Total
2025
£
596,195
36,431
26,735
67,741
31,787
132,084
890,973
118,423
58,126
21,835
14,983
11,708
4,216
1,150
0
230,441
9,848
4,901
14,749
17,554
17,554
75,900
31,454
20,408
127,762
1,281,479		 Total
2024
£
589,223
41,241
26,720
99,327
0
127,420
883,931
122,542
52,276
16,677
19,438
21,776
3,678
1,350
2,024
239,761
8,800
1,252
10,052
21,729
21,729
66,000
27,862
7,597
101,459
1,256,932

32

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

2.
INCOME FROM (CONT’D)
* The income tax recoverable under gift aid scheme
relates to the following areas:
Planned giving
Other gifts
Gift days
Collections at services		 Unrestricted
Funds
£
117,276
1,926
0
2,735






Restricted
Funds
£
0
5,299
4,848
0
10,147		 Total
2025
£
117,276
7,225
4,848
2,735
132,084		 Total
2024
£
113,260
5,323
5,431
3,406
127,420
Total
2024
£
2,270
2,270
175,382
83,307
8,233
5,354
22,290
11,700
52,938
2,290
51,067
412,561
42,673
455,234
220,497
220,497
121,937
3.
EXPENDITURE ON
(a) Raising funds
Raising other trading activities
(b) Charitable activities
- Parochial ministry
Clergy and operations
Music
Audio, visual and distributed materials
Church maintenance and repairs
Other service costs
Raising generations
Residential properties
Parish weekend
Allocated direct costs (see note 5)
Direct costs
Allocated support costs (see notes 4 and 6)
(c) Charitable activities
- Parish share
Parish share		 Unrestricted
Funds
£
546
546
118,602
83,758
6,797
13,572
10,102
8,646
30,949
0
65,320
337,746
51,833
389,579
240,959
240,959		 Restricted
Funds
£
4,558
4,558
18,444
6,864
0
0
3,783
120
2,723
0
423
32,357
138
32,495
0
0		 Total
2025
£
5,104
5,104
137,046
90,622
6,797
13,572
13,885
8,766
33,672
0
65,743
370,103
51,971
422,074
240,959
240,959

33

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

3.
EXPENDITURE ON (CONT’D)
(d) Grants
Giving to institutions
Growing Hope Redbridge
Cutting Edge
Church Mission Society
Haven House
Church at Barking Riverside
New Life Art Ministries
All Saints’ Highams Park
SOMA UK
Christian Education Project
Women on the Frontline
Iphiko
Grassroots
New Wine Trust
Personal Wholeness Trust: Counsel for Life
Holy Trinity South Woodford
Salvation Army
Open Doors
Evangelical Alliance
Good Shepherd Project
Nationwide Christian Trust (Living Light)
Church Pastoral Aid Society
Children’s Society
Mothers’ Union
Samaritan’s Purse
South Sudan Diocese of Wau
Crisis UK
Giving to individuals
Ruth Lovell
Chase and Ysanne Olson
Rob Santer
Kathryn Bishop
Andy Moules
Mark Castleton
Sarah Alekwe
Alf Cooper
Jane Savvas
Josefa Pauli
Reuben and Sarah Singleton
Sam and Anna Pollard
Philip Ireson
Raissa de Figueiredo
W M Ajuong
Hania Asif
Joseph and Sarah Harvey
Other (see * on page 35)		 Unrestricted
Funds
£
7,500
0
0
0
0
0
0
0
0
2,600
2,280
2,400
0
0
0
0
0
500
0
0
0
0
0
0
0
0
15,280
3,864
0
0
3,495
0
868
0
0
0
0
0
0
0
0
0
0
0
118
8,345		 Restricted
Funds
£
6,250
10,264
7,850
5,874
5,000
3,970
3,932
3,726
3,050
50
170
50
2,300
2,150
2,000
1,430
620
0
500
400
400
250
159
140
0
0
60,535
2,294
5,000
5,000
4,630
1,200
132
375
300
300
300
300
300
0
0
0
0
0
626
20,757		 Total
2025
£
13,750
10,264
7,850
5,874
5,000
3,970
3,932
3,726
3,050
2,650
2,450
2,450
2,300
2,150
2,000
1,430
620
500
500
400
400
250
159
140
0
0
75,815
6,158
5,000
5,000
8,125
1,200
1,000
375
300
300
300
300
300
0
0
0
0
0
744
29,102		 Total
2024
£
8,147
7,541
14,100
430
0
1,500
10,000
0
3,200
3,576
2,756
2,100
2,000
2,700
0
1,052
0
500
500
1,000
800
250
100
786
9,858
173
73,069
6,092
4,800
4,800
4,458
1,000
0
0
250
250
250
250
0
1,000
1,000
500
300
250
7,496
32,696

34

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

3.
EXPENDITURE ON (CONT’D)
(d) Grants

Direct costs
Allocated support costs (see notes 4 and 6)
(e) Charitable activities
- External ministry
The Atrium
Outreach events
Children
Adults
Families
External hire
Baptisms, weddings and funerals
WTC hub
New Wine discipleship year
New Wine activities
Allocated direct costs (see note 5)
Direct costs
Allocated support costs (see notes 4 and 6)
Total expenditure		 Unrestricted
Funds
£
23,625
1,704
25,329
57,488
1,602
4,680
11,360
13,313
7,282
11,346
17,488
9,054
285,831
419,444
53,962
473,406
1,129,819		 Restricted
Funds
£
81,292
0
81,292
0
0
1,100
0
0
0
0
3,227
15
3,803
8,145
138
8,283
126,628		 Total
2025
£
104,917
1,704
106,621
57,488
1,602
5,780
11,360
13,313
7,282
11,346
20,715
9,069
289,634
427,589
54,100
481,689
1,256,447		 Total
2024
£
105,765
1,451
107,216
56,150
1,858
2,913
17,188
12,046
8,813
10,974
21,081
12,106
234,793
377,922
44,887
422,809
1,208,026

35

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

4.
TOTAL RESOURCES EXPENDED
Raising funds
Charitable activities
Parochial ministry
Parish share
Grants
External ministry		 Direct
Costs
£
5,104
370,103
240,959
104,917
427,589
1,148,672		 Support
Costs
£
0
51,971
0
1,704
54,100

107,775		 Total
2025
£
5,104
422,074
240,959
106,621
481,689
1,256,447		 Total
2024
£
2,270
455,234
220,497
107,216
422,809
1,208,026

5. DIRECT COSTS ALLOCATION

5.
DIRECT COSTS ALLOCATION
Raising generations, interns and facilities costs have been allocated on an estimated time
involved. All other costs have been allocated based on an estimate of how much the resource
category. The allocation is:
Raising
funds
Parochial
ministry
Parish
share
Grants
External
Ministry
£
£
£
£
£
Raising generations
0
31,815
0
0
95,444
Site rates, utilities and insurance
0
9,360
0
0
53,043
Cleaning
0
4,999
0
0
44,988
Facilities
0
6,858
0
0
20,574
Site maintenance and repairs
0
6,673
0
0
60,059
Interns
0
6,038
0
0
15,526
0
65,743
0
0
289,634		 basis of the individual
is used by each
Total
2025
Total
2024
£
£
127,259
81,320
62,403
62,415
49,987
45,152
27,432
9,639
66,732
55,573
21,564
31,762
355,377
285,861
285,861

6. SUPPORT COSTS ALLOCATION

Secretarial and governance costs have been allocated on an estimated time basis of the individuals involved. All other costs have been allocated based on an estimate of how much the resource is used by each category. The allocation is:

Secretarial and admin
Office equipment and software
Printing, postage and stationery
Telephone, internet & website
Governance
Finance support
Auditors remuneration
Accounts preparation
Human resources and payroll		 Raising
funds
£
0
0
0
0
0
0
0
0		 Parochial
ministry
£
21,718
11,619
1,743
709
9,065
4,531
1,900
686
51,971		 Parish
share
£
0
0
0
0
0
0
0
0
0		 Grants
£
0
0
0
0
954
478
200
72
1,704		 External
Ministry
£
21,718
11,619
1,743
2,838
9,065
4,531
1,900
686
54,100		 Total
2025
£
43,436
23,238
3,486
3,547
19,084
9,540
4,000
1,444
107,775		 Total
2024
£
23,116
28,868
4,324
3,690
13,508
9,000
5,674
831
0 89,011

36

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

7.
STAFF COSTS AND EMOLUMENTS
Gross wages and salaries
Employer’s National Insurance contributions
Employer’s pension contributions
 2025
£
336,166
35,705
33,708
405,579		 2024
£
322,412
25,864
30,143
378,419

No employee received more than £60,000 during the year (2024: none). The total employee benefits of the key personnel of the charity were £150,218 (2024: £205,260). The incumbent and curates receive a stipend from the Church of England and therefore no amounts are included in the employee benefits figure for these individuals.

The average number of persons employed during the year:
- Clergy, operations and secretarial
- Raising generations
- Music, audio and visual
- The Atrium and site hire
- New Wine discipleship year and WTC hub

The average number of persons employed during the year
based on full-time equivalent:
- Clergy, operations and secretarial
- Raising generations
- Music, audio and visual
- The Atrium and site hire
- New Wine discipleship year and WTC hub
 2025
Number
5.0
4.6
2.0
2.7
1.0
15.3
2025
FTE
4.1
3.4
2.0
1.3
0.3
11.1		 2024
Number
5.4
3.4
2.0
3.1
1.0
14.9
2024
FTE
4.4
2.3
2.0
1.4
0.4
10.5

At 31 December 2025 the actual number of employed staff was 15 (2024: 15).

8.
PENSION COSTS
The church operates a non-contributory workplace pension scheme:
- number of staff to whom benefits accrued
- costs for the year
- contributions outstanding at year end		 2025
Number
16
£
33,708
1,643		 2024
Number
15
£
30,143
0

37

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

9.
NET INCOME / EXPENDITURE FOR THE YEAR		 2025 2024
£ £
This is stated after charging:
Auditors - Audit fee 9,540 9,000
Depreciation 13,774 10,549

10. RELATED PARTY TRANSACTIONS

Donations in furtherance of church’s objectives

The PCC made the following donations to related parties in furtherance of its objectives:

Related party Donation PCC member
Growing Hope £13,750 Gillian Hampton, Gillian, and Mary are trustees of Growing Hope
Redbridge (2024 - £8,147) Mary Nunns, and Redbridge. Kristy Giddy, Marcus’ wife, is a
Marcus Giddy trustee of Growing Hope Redbridge
New Life Art £3,970 Paul Harcourt Becky Harcourt, Paul’s wife, is a trustee of New
Ministries (2024 - £1,500) Life Art Ministries
SOMA UK £3,726 Paul Harcourt Becky Harcourt, Paul’s wife, is on SOMA UK’s
(2024 - £0) national leadership team
New Wine £2,300 Paul Harcourt Paul is a New Wine Ambassador
(2024 - £2,000)
Open Doors £620 Paul Harcourt Becky Harcourt, Paul’s wife, is an ambassador of
(2024 - £0) Open Doors

Rental income

The Billy Graham Evangelistic Association rented office space from 20 January 2024 to 30 September 2024. For the period they paid £6,295 for rent, £1,280 for photocopying/printing and £490 for redecoration of the office space. Daniel Vickers is an employee of the Billy Graham Evangelistic Association.

Supply of services

Derek Wright was paid £nil (2024 - £65) for piano tuning. He is Daniel Vicker’s father-in-law.

Becky Harcourt was paid £1,050 (2024 - £550) for preaching. She is Paul Harcourt’s wife.

Trustees remuneration and other benefits

The church employed Colette Wright as Deputy operations manager. She is Daniel Vicker’s wife. She was paid a salary (including employer pension contributions) of £30,588 (2024 - £28,710).

The church employed Matthew Weldon as Deputy Operations assistant. He is Hannah Weldon’s husband. He was paid a salary (including employer pension contributions) of £23,319 (2024 - £0).

The church employed Joshua Green as WTC hub director. He was paid a salary (including employer pension contributions) of £10,817 (2024: £10,738).

38

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

10. RELATED PARTY TRANSACTIONS (CONT’D)

The following expenses were reimbursed:
Round sum expense allowances
Revd. Paul Harcourt
Revd. Marcus Giddy
Revd. Mark Castleton
Revd. Jacob Farley
Revd. David Baker
 £
3,600
1,932
1,800
1,200
0
8,532		 £
3,600
2,400
2,400
0
1,400
9,800

Trustees and related parties made aggregate donations during the year of £78,865 (2024: £66,352).

11.
TANGIBLE FIXED ASSETS
Church land
and building
£
Cost or valuation
At 1 January 2025
4,528,799
Additions
CCTV system
0
At 31 December 2025
4,528,799

Impairment
At 1 January 2025
(4,528,798)
At 31 December 2025
(4,528,798)

Depreciation
At 1 January 2025
0
Charge for year
All Saints’ auditorium
0
Coffee machine
0
CCTV system
0
At 31 December 2025
0

Net book value
At 1 January 2025
1
At 31 December 2025
1		 Residential
properties
£
2,600,523
0
2,600,523

0
0

0
0
0
0
0

2,600,523
2,600,523		 Plant and
machinery
£
80,423
0
80,423
0
0
(66,352)
(8,042)
0
0
(74,394)
14,071
6,029		 Fixtures,
fittings and
equipment
£
157,164
12,906
170,070
0
0
(152,152)
0
(2,506)
(3,226)
(157,884)
5,012
12,186		 Total
£
7,366,909
12,906
7,379,815
(4,528,798)
(4,528,798)
(218,504)
(8,042)
(2,506)
(3,226)
(232,278)
2,619,607
2,618,739

39

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

11. TANGIBLE FIXED ASSETS (CONT’D)

The Charities SORP 2015 and Church of England guidance to PCC’s (4[th] edition) require all nonconsecrated buildings to be capitalised as fixed assets in the balance sheet. The church land and building cost element in the above table records the construction costs of the All Saint’s site redevelopment and St Andrew’s refurbishment. The Trustees of the charity are of the opinion that the new buildings do not have a carrying value for balance sheet purposes as the buildings are not capable of being sold (due to the PCC not owning the land, there being no access to the buildings save through the church site itself and being physically linked to the consecrated building, and are not being used for the purpose of generating significant profit but rather to contribute to the running and maintenance costs). Therefore, the Trustees are of the opinion that the asset be impaired in the accounts to a nominal value.

The following properties are owned outright by the PCC and were professionally valued on an open market basis by Thomas Cann, external qualified valuer with Lawlors, in November 2013:

basis by Thomas Cann, external qualified valuer with Lawlors, in November 2013:
Residential properties
Walnut Cottage, 3 Inmans Row, Woodford Green
55B Montalt Road, Woodford Green		 2025
£
875,000
475,000
1,350,000		 2024
£
875,000
475,000
1,350,000

Following the adoption of FRS 102 in 2015, we have taken the opportunity to revalue the residential properties at transition date and use this as deemed cost. A revaluation policy is therefore not being applied going forward.

As a result of the Mary Lee legacy, title to 24 Vernon Avenue was transferred to the PCC outright on 5 June 2018 and title is held by the Custodian Trustee. Probate value of £680k at the time of acquisition is used as deemed cost.

On 19 December 2023 the PCC purchased 14 Ashdon Close. The purchase price, including legal fees, search fees and other relate costs, was £532,564, which has been capitalised. Prior to occupation, refurbishment costs of £37,959 were incurred and capitalised, resulting in a deemed cost of £570,523.

Plant and machinery is depreciated on a straight line basis over 10 years. Fixtures, fittings and equipment is depreciated on a straight line basis over 4 years. The 2025 depreciation charges were against the following funds:

depreciated on a straight line basis over 4 y
funds:		 ears. The 2025 depreciation charges were against the fol
All Saints’ plant and machinery dep’n
All Saints’ fixture fitting & equip’t dep’n		 Total
Designated
Dev+Maint
Dep’n
Restricted
Dev+Maint
Dep’n
All Saints’
General
£
£
£
£
8,042
3,816
4,226
0
5,732
0
0
5,732
13,774
3,816
4,226
5,732

The total depreciation charged to the Development and Maintenance funds in the year was £3,816 for designated and £4,226 for restricted, leaving the funds with a balance of £2,860 for designated and £3,170 for restricted. These Development and Maintenance funds will be reduced to zero by 31 December 2026 as the plant and machinery depreciation and fixtures, fittings and equipment depreciation is charged.

40

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

12.
DEBTORS
Tax reclaim
Trade debtors
Other debtors
Prepayments
Accrued income
 2025
£
11,802
2,903
12,200
8,867
29,129
64,901		 2024
£
12,439
1,700
2,021
2,424
6,890
25,474
13.
CASH AT BANK AND IN HAND
CBF deposit accounts
HSBC plc current and interest bearing accounts
Scottish Widows plc
Cash in hand
 2025
£
333,051
229,457
529
611
563,648		 2024
£
415,193
155,380
522
4,512
575,607
14.
CREDITORS - DUE WITHIN ONE YEAR
PAYE / NI
Trade creditors
Other creditors
Accruals
Audit fee
Utilities
Accounts preparation fee
Gross salaries
Other
Deferred income
Site hire fees and wedding fees
 2025
£
6,318
13,708
1,258
9,360
6,643
4,000
2,248
2,633
1,321
47,489		 2024
£
5,685
17,454
481
9,000
4,731
5,650
0
2,623
297
45,921
15.
DEFERRED INCOME
Deferred income comprises site hire income and wedding deposits.
Balance as at 1 January 2025
Released to income earned from charitable activities
Deposits repaid
Amount deferred in year
 2025
£
297
(297)
0
1,321
1,321		 2024
£
1,801
(251)
(1,550)
297
297

41

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

16.
FUNDS - MOVEMENTS
IN YEAR
(a) General
General
Residential Properties
Furniture and Equipment
All Saints’ Operating Activities
St Andrew’s Operating Activities
(b) Designated
Property Maintenance
Growing Hope Redbridge
Connect Project Depreciation
(c) Restricted
Mary Lee Legacy (Property)
Mary Lee Legacy (Other)
St Andrew’s Legacy
Parish Nurse
Organ Refurbishment
NW Discipleship Students - CDBF
DY Mission Trip
Parish Hardship
Raising Generations
Mission
Connect Project Depreciation
Anniversary Fund
Annual Sale
Worship
Vintage Lunch and Tea
Myriad
Dementia Friendly Church
Haven House
Cutting Edge
Salvation Army
Organ Maintenance
St Andrew’s Ruth Lovell Water
Gift Day
Bibles
Growing Hope Redbridge
Ephesians
SOMA UK
St Andrew’s Kate Bishop
St Andrew’s Ruth Lovell
All Saints’ Highams Park Food Hub
St Andrew’s Iphiko
St Andrew’s Sarah Alekwe
WTC Laptop
Samaritan’s Purse (Ukraine)		 Balance at
1.1.25
1,996,500
5,012
334,454
67,812
2,403,778
25,000
8,250
6,676
39,926
604,024
0
33,686
34,568
6,646
9,169
2,769
4,469
2,989
0
7,396
2,338
1,145
1,900
1,353
6,501
5,000
3,057
2,719
784
475
75
0
0
0
0
0
0
0
0
0
0
0
0		 Income
0
0
1,079,553
67,842
1,147,395
0
0
0
0
0
29,314
503
915
6,831
274
5,709
2,236
1,052
4,005
0
332
10,047
986
0
155
167
2,820
7,545
646
125
0
31,683
5,977
5,000
3,974
3,726
3,630
2,219
1,937
1,170
375
300
140		 Expenses
0
(5,733)
(1,044,023)
(68,747)
(1,118,503)
0
(7,500)
(3,816)
(11,316)
0
(2,723)
0
(14,470)
(2,854)
(2,000)
(3,454)
(626)
(120)
(1,255)
(4,226)
0
(9,750)
(1,822)
(1,100)
(3,783)
0
(5,877)
(10,264)
(1,430)
(600)
(75)
(31,019)
(4,442)
(5,000)
(3,974)
(3,726)
(3,630)
(2,219)
(1,937)
(1,170)
(375)
(276)
(140)		 Transfers
34,534
12,906
(50,966)
0
(3,526)
75,000
(750)
0
74,250
(34,534)
(26,591)
0
0
0
0
0
(2,000)
0
664
0
0
0
0
0
(2,873)
(5,167)
0
0
0
0
0
(664)
(1,535)
0
0
0
0
0
0
0
0
(24)
0		 Balance at
31.12.25
2,031,034
12,185
319,018
66,907
2,429,144
100,000
0
2,860
102,860
569,490
0
34,189
21,013
10,623
7,443
5,024
4,079
3,921
3,414
3,170
2,670
1,442
1,064
253
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

42

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

16.
FUNDS - MOVEMENTS
IN YEAR (CONT’D)
(c)
Restricted
St Andrew’s Mark Castleton
Mother’s Union
St Andrew’s Grassroots
St Andrew’ WOFM
All Saints’ Highams Park CAP		 Balance at
1.1.25
0
0
0
0
0
731,063
3,174,767		 Income
132
59
50
50
0
134,084
1,281,479		 Expenses
(132)
(59)
(50)
(50)
(2,000)
(126,628)
(1,256,447)		 Transfers
0
0
0
0
2,000
(70,724)
0		 Balance at
31.12.25
0
0
0
0
0
667,795
3,199,799

The general fund represents the unrestricted funds that are available for the PCC to spend in line with their aims and objectives. The table above subdivides the general fund of £2.4m, showing that at 31 December 2025 £2m was held in residential properties, £12k was held in furniture and equipment and the balance of £387k is in operating activities (All Saints’ - £320k, St Andrew’s - £67k).

The transfers shown above are explained in more detail in the table below.

TRANSFERS
(a) General
Residential Properties
Furniture and Equipment
All Saints’ Operating Activities
(b) Designated
Property Maintenance
Growing Hope Redbridge
(c) Restricted
Mary Lee Legacy (Property)
Mary Lee Legacy (Other)
Parish Hardship
Mission
Myriad
Dementia Friendly Church
Gift Day
Bibles
WTC Laptop
All Saints’ Highams Park CAP		 Restricted
Transfers
£
0
0
0
0
0
0
0
0
0
(2,000)
664
0
0
(664)
0
0
2,000
0
0		 Mary Lee
Transfers
£
34,534
0
26,591
61,125
0
0
0
(34,534)
(26,591)
0
0
0
0
0
0
0
0
(61,125)
0		 Operating
Activities
Transfers
£
0
12,906
(77,557)
(64,651)
75,000
(750)
74,250
0
0
0
0
(2,873)
(5,167)
0
(1,535)
(24)
0
(9,599)
0		 Total
Transfers
£
34,534
12,906
(50,966)
(3,526)
75,000
(750)
74,250
(34,534)
(26,591)
(2,000)
664
(2,873)
(5,167)
(664)
(1,535)
(24)
2,000
(70,724)
0

43

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

16. FUNDS - MOVEMENTS IN YEAR (CONT’D)

Designated Funds

Property Maintenance

For refurbishment and maintenance of church site and residential properties. It is forecast that £500k might be needed over the next five years and a further £750k in the subsequent five years.

Growing Hope Redbridge

This fund is for setting up a Growing Hope clinic in Redbridge to provide free therapy for children and young people with additional needs and support for their families. The balance was transferred to the general operating activities fund.

Connect Project Depreciation

The fund was given as part of Connect Project and will be used over the next year as the plant & machinery and fixtures, fittings & equipment are depreciated. See note 11.

Restricted Funds

Mary Lee Legacy (Property and Other)

The fund is for the upkeep and fabric of All Saints’ church. During the year the fund received £29k rental income, paid £3k of property costs and transferred £61k to the general funds to cover upkeep and fabric costs of All Saints’ church. £27k of this transfer was cash and £34k was a share of Vernon Avenue property.

St Andrew’s Legacy

This fund represents various legacies received which are restricted for the use of St Andrew’s. It is expected that the fund will be used over the next five years.

Parish Nurse

The fund is for parish nursing provision. It is expected that the fund will be used in the next three years.

Organ Refurbishment

The fund is for organ refurbishment. It is expected that the fund will be spent over the next two years.

NW Discipleship Students - CDBF

The fund represents the balance of a grant from the Diocese in 2018 to fund interns from parishes within the Diocese on the New Wine Discipleship programme at All Saints. It is anticipated that the fund will be used over the next three years.

Dementia Friendly Church

The fund is to enable the church to become more dementia friendly. As a church we have explored ways to meet this aim and, for example, have increased our visits to local care homes to hold communion services. Our experience has shown that dementia friendly activities do not require cost allocation and therefore, in collaboration with the donor, these funds have been unrestricted and moved to the general operating activities fund.

DY Mission Trip (previously know as Interns Mission Trip)

The fund is to support the interns mission trips. It is expected to be spent in 2026.

Parish Hardship

Established during 2020, this fund is to assist those in need from both the church family and the local community. It is to provide small non-repayable grants to individuals and families who finds themselves in need and with no other means of support. It is intended for the purchase of everyday health and hygiene needs such as food, toiletries, prescribed medicines, utilities and as a way of sustaining people until they can access appropriate levels of assistance. It is expected that the fund will be used over the next two years.

44

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

16. FUNDS - MOVEMENTS IN YEAR (CONT’D)

Raising Generations

The fund is for youth activities and instruments for the youth to use in worship. It is expected that the fund will be spent over the next two years.

Mission

The fund is to support individual or organisations in mission and is expected to be spent over the next two years.

Connect Project Depreciation

The fund was given as part of Connect Project and will be used over the next year as the plant & machinery and fixtures, fittings & equipment are depreciated. See note 11.

Myriad

The fund is to support our Myriad church planting hub, a resource to equip lay church planters in Essex, East London and beyond in growing small teams to develop new church communities. The programme ended in June 2025 and the funds were transferred to the general operating activities fund in line with the terms of the original donation.

Anniversary Fund

The fund is for building and site maintenance, including remedial works on the church roof, electrics, lighting and other arears. It is expected that the fund will be added to and used over the next ten years. It is forecast that £500k might be needed over the next five years and a further £750k in the subsequent five years.

Annual Sale

This fund is the money raised at the Annual Sale in November each year. It is anticipated that the Mission Committee will allocate these funds to individuals or organisations as evangelistic opportunities arise over the next year.

Worship

The fund is for any church worship activities. It is expected to be spent in 2026.

Vintage Lunch and Tea

This fund is for vintage lunch and vintage tea activities. It is expected that the fund will be used over the next two years.

Haven House

This fund is to support Haven House. It was distributed during the year.

Cutting Edge

This fund is for Cutting Edge. It was distributed during the year.

Salvation Army

This fund is to support the community care fund which is to support local people in need homeless people in the borough. It was distributed during the year.

Organ Maintenance

The fund is for organ maintenance. It was spent in 2025.

St Andrew’s Ruth Lovell Water

This fund was raised to support Ruth Lovell in purchasing water filters. It was distributed in 2025.

Gift Day

This fund was raised to extend the Kingdom through supporting mission partners. It was distributed during the year.

45

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

16. FUNDS - MOVEMENTS IN YEAR (CONT’D)

Bibles

This fund was raised to buy new church bibles. They were purchased in 2025 with the fund balance being transferred to general funds in line with the terms of the gifts.

Growing Hope Redbridge

This fund is for the Growing Hope clinic in Redbridge to provide free therapy for children and young people with additional needs and support for their families. It was distributed during the year.

Ephesians

This fund holds amounts gifted to All Saints’ via the Ephesians fund. These funds can only be used to support churches/ministries endorsing the Ephesian Fund Basis of Faith. These gifts may not be used towards payment of parish share unless we are assured (e.g. because the church/PCC is paying its parish share via the Ephesian Fund) that the funds will be credited back to an endorsing church. The fund was spent in the year.

SOMA UK

Paul Harcourt, Becky Harcourt and Tibz Adeniyi planned to go on a SOMA UK mission trip to South Sudan in June 2025. The global financial crises meant that in-country funding for the mission was withdrawn. This fund was set up to receive gifts from the church family in support of the mission trip. The fund was distributed to SOMA UK during the year.

St Andrew’s Kate Bishop

This fund was raised to support Kate Bishop, it was distributed during the year.

St Andrew’s Ruth Lovell

This fund was raised to support Ruth Lovell, it was gifted during the year.

All Saints’ Highams Park Food Hub

This fund was raised to support the food hub at All Saints’ Highams Park. The fund was gifted during the year.

St Andrew’s Iphiko

The fund was raised to support Iphiko, it was distributed during the year.

St Andrew’s Sarah Alekwe

The fund was raised to support Sarah Alekwe, it was distributed during the year.

WTC Laptop

The fund was to purchase a new laptop for WTC, which was done in 2025 with the remaining balance being transferred to the general operating activities fund in line with the terms of the gift.

Samaritan’s Purse (Ukraine)

This fund is for Ukraine, it was distributed during the year.

St Andrew’s Mark Castleton

This fund was raised to support Mark Castleton’s sabbatical. The fund was gifted during the year.

Mother’s Union

This fund was raised to support Mother’s Union, it was gifted during the year.

St Andrew’s Grassroots

This fund was raised to support Grassroots, it was distributed during the year.

St Andrew’s WOFM

This fund was raised to support Sophia Burley through WOFM. The fund was gifted during the year.

46

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

All Saints’ Highams Park CAP

This fund is to support the CAP activities at All Saints’ Highams Park. The fund was gifted during the year.

17.
ANALYSIS OF NET ASSETS BY FUND
Fixed assets
Debtors, accrued income and prepayments
Cash at bank and in hand
Creditors due within one year
Net assets		 Unrestricted
Funds
£
2,046,079
60,980
466,566
(41,621)
2,532,004		 Restricted
Funds
£
572,660
3,921
97,082
(5,868)
667,795		 Total
2025
£
2,618,739
64,901
563,648
(47,489)
3,199,799		 Total
2024
£
2,619,607
25,474
575,607
(45,921)
3,174,767

47

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2025

18.
PRIOR YEAR COMPARATIVE STATEMENT
FINNANCIAL ACTIVITIES
Income from
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
Total income
Expenditure on
Raising funds
Charitable activities
Parochial ministry
Parish share
Grants
External ministry
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movements in funds for the year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
756,473
225,084
0
20,335
73,597
1,075,489
283
436,630
220,497
31,963
414,516
(1,103,889)
(28,400)
50,571
22,171
2,421,533
2,443,704		 Restricted
Funds
£
127,458
14,677
10,052
1,394
27,862
181,443
1,987
18,604
0
75,253
8,293
(104,137)
77,306
(50,571)
26,735
704,328
731,063		 Total
2024
£
883,931
239,761
10,052
21,729
101,459
1,256,932
2,270
455,234
220,497
107,216
422,809
(1,208,026)
48,906
0
48,906
3,125,861
3,174,767

48