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2024-12-31-accounts

Annual Accounts & Trustees Annual Report For the year ending 31 December 2024

The Parochial Church Council of the Ecclesiastical Parish of Saint Saviour Guildford

Registered Charity Number: 1128141

St Saviour's Guildford

Year Ended 31st December 2024 Contents Page

Legal and Administrative Information 3
Trustees’ Annual Report 4
Independent Examiner’s Report 11
Statement of Financial Activities 12
Statement of Financial Position 13
(Balance Sheet)
Statement of Cash Flows 14
Notes to the Financial Statements 15

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St Saviour's Guildford

Year Ended 31st December 2024

Legal and Administrative Information

Reference

The Charity is called “The Parochial Church Council Of The Ecclesiastical Parish Of Saint Saviour Guildford”. The Parochial Church Council is known as the PCC for short. Other names which are used for the charity are "St Saviour's Guildford". The Church is registered with the Charity Commission for England and Wales and was registered on the 19 February 2009. Before this the church was excepted from registration.

Registered Charity Number 1128141
Registered Office The Church Office
St Saviour’s Church
Woodbridge Road
Guildford
GU1 4QD
Website www.st-saviours.org.uk
Primary Bankers Lloyds Bank plc
147 High Street
Guildford
Surrey
GU1 3AD
Solicitors Charles Russell Speechlys LLP
One London Square
Guildford
Surrey
GU1 1UN
Independent Examiner Nigel Wyatt BSc FCA
Wyatt & Co Chartered Accountants
125 Main Street
Garforth
Leeds
LS25 1AF

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St Saviour's Guildford

Year Ended 31st December 2024

Trustees’ Annual Report

The Parochial Church Council (PCC) presents its annual report for the year ended 31 [st] December 2024, together with the independently examined accounts for the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The structure, governance and management of St Saviour’s is determined by the rules of the Church of England, in particular the Church Representation Rules 2020. Governance is provided by the Rector, Churchwardens and the PCC. Day to day management is the responsibility of the Rector, the Executive Committee, and the staff team.

Membership of the PCC:

Members of the PCC are elected or co-opted by the Annual Parochial Church Meeting in accordance with the Church Representation Rules 2020 or are ex-officio. The following people served as members of the PCC for all or part of the year. The 2023 APCM was held on 23 April 2024, on which date 3 trustees resigned (*), and 5 took office or were reelected (#). One further resignation and three further appointments took place later in the year.

Rector: Revd. Graham Shaw[S] (Chair) Associate Ministers: Revd. Kath Garner Revd. Lucy Webb[S SG ] Licenced Lay Minister: Norman Patterson[BM ] (from 20 May) Churchwardens: Deborah Pepper[ S SG ] (to APCM) Natalie Savage (from APCM) Dave Snell[S BM ] Deputy Churchwarden : Natalie Savage[S ] (to APCM) Steve Moore[S ] (from 23 September) Elected Representatives to the Deanery Synod: Michael Jamison Deborah Pepper (from APCM)[S SG] Elected PCC members: Andrew Bagwell (Co-Treasurer)[S F ] Emma Barnard Ayimo Bassey # Dave Beak # (to 23 September) Daniel Bishop (Co-Treasurer)[S F] Amy Corbett (from 20 May) Chris How[F] Pam Levell * Steve Moore (to 23 September) Tunji Oloyede # Stephen Pointer[F] Lorraine Price Penny Rickman (Secretary) Mark Ross-Smith[BM ] (from 17 June) Matthew Rowlandson # Sue Stephens [SG ] Joanna Tye * Nicholas Varley #[BM S] Co-opted: Annabelle Varley[SG ] In attendance: Adrian Mansfield, Operations Director _Key to committees:* S = Standing Committee F = Finance Team_

BM = Buildings Management Team SG = Safeguarding Forum

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Trustees’ Annual Report

Leadership Team

Day to day management of the church is delegated to the Rector, the Leadership Forum and the staff team.

The Leadership Forum comprised Graham Shaw, Lucy Webb, Kath Garner, Adrian Mansfield, Annabelle Varley, and Joy Bishop. During the year, Lucy Webb and Graham Shaw chaired the forum, and the Churchwardens also attended meetings.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (Members of the PCC) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Trustees are inducted by a Churchwarden around the time of their first PCC meeting, and briefed on their responsibilities as a PCC member and charity trustee. DBS checks are made on all Trustees, in line with Charity Commission guidance. As a registered charity and Anglican Church, the church is run in accordance with the Parochial Church Councils (Powers) Measure (1956) as amended, and Church Representation Rules (2020). Trustees are also elected or co-opted in accordance with these rules, at the Annual Parochial Church Meeting (APCM).

OBJECTIVES & ACTIVITIES

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

PUBLIC BENEFIT

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

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Trustees’ Annual Report

To facilitate these activities, it is important that we maintain the fabric of the Church of St Saviour’s and the attached Church Centre buildings.

RISK MANAGEMENT

The PCC recognises its responsibilities for managing risk.

Principal Risks and Uncertainties

As with many charitable organisations, the majority of the PCC’s income is the result of voluntary giving and in the PCC’s case, the vast majority of this comes from the generous, sacrificial and committed giving of the membership of St. Saviour’s Guildford. The PCC recognises that church membership fluctuates year-by-year and that any period of change and transition can heighten the risk of this fluctuation. The church operates an annual spring gift day under the direction of the Finance Team, at which church members are asked to review and pledge their financial support to the PCC for the year ahead. Income and expenditure are monitored monthly to maintain a clear focus on the church’s financial position. An autumn gift day is often utilised to meet shortfalls and raise additional funds for special projects and initiatives. Day-by-day financial management is with the Treasurers, Operations Director, Financial Administrator and ministry leaders, who tailor and adjust expenditure throughout the year to respond to any recognised financial constraints.

Operations

An annual programme of essential routine maintenance and decorating work was completed at the church centre. All obligatory annual inspections to safety, electrical and security equipment were completed as was portable appliance testing. A plan is in place for evacuating the Church and Centre in the event of fire or some other emergency and protocols have been refreshed for evacuating the church during services and large events. Fire notices are exhibited throughout the building. The most recent Quinquennial (5-yearly) inspection was carried out in 2020 and 5 year insurance risk management check happened in June 2021. The next Quinquennial inspection is scheduled for 2025.

Safeguarding

Safeguarding is at the heart of everything we do at St Saviour’s because we believe that every person is a precious child of God and it is to Him that we are accountable for our stewardship of His people. It is, therefore, of primary importance to us that St Saviour’s is a place of safety for all - but particularly for the many children, young people and vulnerable adults that we welcome on a weekly basis. The PCC is committed to building a safe culture by combining good relationships and communication at all levels, clear safeguarding accountability and professional curiosity, with rigorous safeguarding policies as required by the House of Bishops. As a church family we want everyone, child and adult, to feel, and to know, that they are safe as they take part in the life of the church.

St Saviour’s PCC has adopted the Church of England Safeguarding Policy ‘Promoting a Safer Church’, the safeguarding policy for children, young people and adults. Continual review of safeguarding policies, procedures and practice is ongoing and overseen by the PCC’s Safeguarding representatives and Safeguarding Forum who report to the PCC at each of its meetings.

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Trustees’ Annual Report

Finance

The handling of cash is subject to dual control procedures with the objective of minimising the risk of loss or fraud. Expenditure is also subject to strict monitoring and control by the Treasurers, Operations Director and Financial Administrator in association with the PCC Finance Team and relevant ministry leaders with a view to ensuring that budgetary limits are respected and not exceeded without prior authorisation. We operate an effective and comprehensive management accounting system that enables the staff, trustees, and Treasurers with the Finance Team to monitor and actively manage St Saviour’s finances on behalf of the PCC on a monthly basis as compared with budget.

Reserves Policy

As part of our contingency planning and risk management the PCC operates a reserves policy whereby we seek to ensure that our unrestricted general fund reserve does not fall below the approximate equivalent of the aggregate of three months of staff costs (Salary, Employers NI and Pension contributions). The value of reserves agreed to be in place at the end of the 2023 financial year (for 2024) by the PCC Finance Team was £80,000. During 2024, this was increased by a further £10,000 (transferred from the General fund). These reserves are held across the general and designated funds. Reserves held above this value are purposed to smooth fluctuations in cash flow, meet emergencies and to allocate towards the activities of the church over the coming years and expected fabric and fixtures expenditure.

REMUNERATION

The PCC delegates the oversight of remuneration of its staff and key management personnel to the Operations Director and the HR Team. A grading structure was introduced in 2017 following a review of remuneration, benchmarked against similar sized churches in the South East, drawing on research conducted by UCAN (United Kingdom Church Administrators Network). The structure was partially reviewed in 2021 and salary levels are monitored against external data.

The PCC and leadership team are enormously grateful for the voluntary contribution of c. 300 church members across a variety of ministry roles, including our Sunday services, Children, Youth and Families provision, and many other groups. Most volunteers serve monthly, for around 2-3 hours but this varies depending on the ministry role and involvement of different individuals.

ACHIEVEMENTS DURING THE YEAR

The past year has had much to celebrate - we have seen growth in numbers and depth of community and discipleship across our whole church family.

Our three Sunday services – at 9.00am, 10.30am and 6.00pm – have continued to develop a sense of individual identity – each now having a congregational pastor (and congregational team) who oversees the welcome, integration and pastoral support for their respective service.

Groups for children and young people continue to flourish and thrive under our children, youth and families team.

Our student and young adults’ ministry has seen particular growth in numbers and depth of discipleship, with Rev Kath Garner in the new role of Associate Minister.

Services at Christmas and Easter were particularly well attended including by large numbers of visitors. Christmas lunches for the Trekkers community and for CAMEO were much appreciated

We are delighted that Norman Patterson has started in a new voluntary role overseeing the CAMEO group and ministry to those approaching retirement, as well as serving as congregational pastor to the 9am congregation, and chaplain to the staff team. Norman has served for many years as our Licenced Lay Minister (LLM) and it’s great that he’s now joined our staff team alongside this ministry.

We have had the pleasure of baptising many – both young children and babies, as well as teenagers and young adults over the past year. We have run Alpha and seen people exploring what it means to be a Christian some come to faith.

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Trustees’ Annual Report

The Meals for You project cooked and delivered thousands of meals during 2024 and the Community Angels befriending project based at St Saviour’s supported members of the community who experience loneliness or isolation. Our congregational summer party with a ceilidh and a pizza van was a lot of fun.

Changes in Staffing

As mentioned above, Norman Patterson joined the staff team on a voluntary basis as Staff Chaplain from January 2024. In July, Hannah Ryley was appointed as our permanent Children’s Pastor, having served for a year as Children’s Ministry Assistant. Also, in July, Alan Tracey joined the team as a part time cleaner supporting our permanent caretaker, Michael Ellis and finally in July, Katherine Varley, currently taking a career break as a paramedic, joined us on a voluntary basis for 5 months assisting Joy and the worship team.

In September, Rachel Akodu started a 10-month placement as our Ministry Student, a part time role focussing primarily on our Students & Young Adults community, working alongside Kath Garner. Rachel was previously part of our student community. In November, Rachel Brown joined the staff team in a new role of Clergy Admin Assistant, bringing valuable commercial experience to this new role. These have all been great additions to our wonderful staff team!

LOOKING TO THE FUTURE

In line with the Diocese of Guildford’s strategy, St Saviour’s has set broad objectives for 2025 in the following areas:

Growing Community

Welcome and integration - to ensure that new members are integrated into the congregation as quickly as they wish to be, with support and follow up at each stage of their journey to integration.

Local community strategy - to be a visible, relevant and engaged Christian presence in our parish and town.

Growing Disciples

Prayer - to extend the culture of prayer as the lifeblood of everything we do as a church.

Teaching – to ensure the quality of teaching at St Saviour's helps the congregation grow in their knowledge and love of Jesus and that each member is equipped as a disciple for every season of life.

Discipleship groups - every member of the church has the opportunity to join a small discipleship group.

Growing Diversity

Children and Young People - to invest in the emerging generations with our time and other resources, so that we can draw more children and young people to meet Jesus and support them on a journey of faith.

Students and Young Adults - to raise up the next generation (aged 18-30) of mature, committed Christian disciples ready to live and lead for Christ in their churches, workplaces and families.

Racial Justice - to ensure that all people of GMH (Global Majority Heritage) feel welcomed and included in our congregation and that the church and that we reflect the growing diversity of our church family at every level within the church

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Trustees’ Annual Report

FINANCIAL REVIEW

Philippians 4 reminds us that God will meet all our needs according to the riches of his glory in Christ Jesus. This passage remains just as true in 2024 as when written, and over this past year, the church family have responded in committed generosity as part of their worship, helping invest in what God is doing in and through St Saviour’s. Praise God.

Total income in 2024 (incorporating restricted giving, as well as activity, rental and investment income) amounted to £927,311 (2023: £806,416). As well as General fund income of just under £740k (which included insurance income of c. 40k), total income included restricted giving of £85k, £78k of legacy giving, and £24k of activity income (the majority of which had equivalent associated expenditure). The number of family units giving on a regular basis was c. 275 over the year.

The Statement of Financial Activities shows an overall surplus of £93k (before transfers) on unrestricted funds for 2024. (Excluding unbudgeted legacy income of £78k, this lessens to £14k, which is roughly the value of room hire and investment income). The original budget had a predicted cash deficit for the year of c £25k (2023: £56k).

The church continues to hold adequate cash reserves, with a slight increase in the year, mostly due to the legacy received during the year which will be designated for special projects or capital improvement, in line with the PCC’s policy. Restricted current net assets (£79k) includes funds for various projects including the Students and Young Adults project (which itself includes employment and housing costs for an Associate Minister). There are no current cash flow concerns , though the PCC recognises much of the cash held is designated or restricted. The Finance Team have selfserve access to the church’s accounts on a cloud-based package (ExpensePlus), and the PCC receive regular updates at their meetings.

The church’s 2024 budget was set and monitored carefully by the Operations Director and Treasurers. The PCC has ensured that a prudent budget has been set for 2025. This includes a deficit of £62k to the General fund, though (at the time of writing this report) we hope regular giving will improve during the course of 2025. We know we have increased costs in 2025 due to inflationary increases, updated Employer’s National Insurance contribution levels, and staff posts being filled which were vacant for part of 2024.

Expenditure has been monitored carefully in line with the budget. Total unrestricted spending for the year was £749,378 (2023: £685,532). General fund expenditure (not including capital assets) was under budget (excluding insurance claim expenditure which had associated income), through careful cost control by the staff team. We continued to pay our parish share of £131,173 (2023: £150,507) in full to the Diocese of Guildford.

The sum paid to our mission partners was £29k (2023: £29k). The payments to mission partners were made from the general funds, with any underspend from the general fund budget contributed to the designated reserve funds for Local mission partners and Global mission partners. Towards the end of 2024, the PCC subcommittee for mission partnerships was re-formed, under Steve Moore’s chairship.

Overall expenditure totalled £843,029 (2023: £702,232). This figure does not include expenditure on capital assets purchased during the year, as these are kept on the balance sheet. However, the figure does include annual depreciation of assets in line with the church’s capitalisation policy.

These funds are represented by fixed assets and investments (including housing) of £850,944 and net current assets (cash held plus funds owed to St Saviour’s, less funds which St Saviour’s owe to others) of £406,322. The unrestricted general fund reserve currently exceeds three-months’ staff costs, in line with our reserves policy.

It is not the role of the PCC to make long-term financial investments. The church owns a residential property (5B Artillery Terrace) which is retained for the purpose of housing one of the Associate Ministers and her family. Other funds are held on short term deposit with CCLA Investment Managers Limited, the Church of England’s investment managers, and in savings or current accounts at Lloyds Bank.

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Trustees’ Annual Report

Trustees’ Responsibilities

The 2011 Charities Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to:

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the Trustees……………………………………………………………………………………………….

Name of Trustee ………………………………………………………………………..………………………………………..

Date:……………………………………………………………………………………………………………………………….

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Independent Examiner’s Report

I report to the trustees on my examination of the financial statements of St Saviour’s Guildford ('the charity') for the year ended 31[st] December 2024.

Responsibilities and Basis of Report

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

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's Statement

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

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

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

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

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Nigel Wyatt BSC FCA Date:

Independent Examiner

125 Main Street Garforth Leeds LS25 1AF

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Statement of Financial Activities

Note
Income
2
Donations and Legacies
Charitable Activities Income
Activities for generating income
Investment Income
Total Income
Expenditure
3
Expenditure on Charitable Activities
Total Expenditure
Net Income / (Expenditure) before gains/(losses)
Gain/(loss) on revaluation of Fixed Asse
10
Net Income / (Expenditure) after gains/(losses)
Net Income and Net Movement in Funds
Total funds brought forward
14
Transfers
14
Total funds carried forward
14		 Unrestricted
£
745,855
79,356
9,812
6,977
842,000
749,378
749,378
92,622
-
92,622
1,083,680
2,033
1,178,335		 Restricted
£
79,653
5,658
-
-
85,311
93,651
93,651
(8,340)
-
(8,340)
89,304
(2,033)
78,931
2024		 Total
£
825,508
85,014
9,812
6,977
927,311
843,029
843,029
84,282
-
84,282
1,172,984
-
1,257,266		 2023
£
766,256
24,532
11,186
4,442
806,416
702,232
702,232
104,184
-
104,184
1,068,800
-
1,172,984

All income and expenditure derive from continuing activities.

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Statement of Financial Position (Balance Sheet)

Note
Fixed Assets
Tangible Fixed Assets
10
Current Assets
Debtors
12
Short term investments
11
Cash at bank and in hand
Creditors: Amounts falling due within one year
13
Net Current Assets
Total Assets less Current Liabilities
Net Assets
15
Funds of the Charity
Restricted Funds
14
Unrestricted Funds
14
Unrestricted General (including Reserves)
Designated funds
Revaluation Reserve (Housing Fund)
Total Charity Funds		 2024
£
850,944
850,944
21,592
112,776
314,572
448,940
42,618
406,322
1,257,266
1,257,266
78,931
314,596
168,740
695,000
1,257,266		 2023
£
828,426
828,426
20,585
107,092
264,901
392,578
48,020
344,558
1,172,984
1,172,984
89,304
245,159
143,521
695,000
1,172,984

Trustees Responsibilities

These financial statements were approved by the board of trustees and authorised for issue:

Name of Trustee:
Signed on behalf of the trustees:		 Graham Shaw (Rector) Daniel Bishop (Co-Treasurer)

Date of Approval:

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Statement of Cash Flows

2024
£
Cash Flows from Operating Activities
Net cash provided by (used in) Operating Activities
114,646
114,646
Cash Flows from Investing Activities
Dividends and Interest
6,977
Purchase of Tangible Fixed Assets
(66,268)
Net cash provided by (used in) Investing Activities
(59,291)
Cash Flows from Financing Activities
Repayments on borrowing
-
Cash inflows from new borrowing
-
Net cash provided by (used in) Financing Activities
-
Change in cash and cash equivalents in the reporting period
55,355
Cash and cash equivalents at the beginning of the reporting period
371,993
Cash and cash equivalents at the end of the reporting period
427,348
Reconciliation of Net Movement in Funds to Net Cash Flow from Operating Activities
2024
£
Net movement in funds for reporting period (as per SoFA)
84,282
Adjustments for:
Gain/(loss) on revaluation of Fixed Assets
-
Interest received
(6,977)
Depreciation of Tangible Fixed Assets
43,750
(Increase)/Decrease in Debtors
(1,007)
Increase/(Decrease) in Creditors
(5,402)
Net cash provided by (used in) Operating Activities
114,646
Analysis of Cash and Cash Equivalents
2024
£
Cash at bank and in hand
314,572
Short term deposits
112,776
Total cash and cash equivalents
427,348		 2023
£
74,464
74,464
4,442
(6,327)
(1,885)
-
-
-
72,579
299,414
371,993
2023
£
104,184
-
(4,442)
34,675
(3,528)
(56,425)
74,464
2023
£
264,901
107,092
371,993

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Notes to the Financial Statements

1 Accounting Policies

Basis of Preparation

The accounts are prepared under the historical cost convention, in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019) - (Charities SORP (FRS 102)), and the Charities Act 2011.

The primary objective of the charity is to promote the gospel of our Lord Jesus Christ according to the doctrine and practice of the Church of England. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Fund Accounting

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

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

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

Restricted Funds are funds collected or donated for a particular purpose and cannot be used by the PCC for any other purpose except by agreement with the donor.

Accounting Requirements

The accounts are required to include all transactions, assets and liabilities for which the PCC can be held responsible, and therefore include the value of 5B Artillery Terrace, tax on gifts and donations received during the year, specific giving directed to support Christian workers.

The accounts do not include the accounts of church groups that owe an affiliation to another group, nor those which are informal gatherings of church members. Church groups which are largely selffinancing, are excluded as they do not materially affect the accounts; however subsidies paid to these groups are included.

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Notes to the Financial Statements

Incoming Resources

All incoming resources are recognised once the charity has entitlement to the resources, it is probable that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability.

Application of Resources

Grants and outward giving are accounted for in the SOFA when paid, unless an obligation, whether constructive or legal, exists to the recipient in accordance with the Charities SORP and FRS 102.

Parish Share and other costs directly relating to the work and activities of the Church are accounted for when they are incurred or become due and payable.

Resources Expended

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

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

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Notes to the Financial Statements

Tangible Fixed Assets

Consecrated and beneficed property, including St Saviour’s Church Centre, is excluded from the accounts by S10(2)(c) of the Charities Act 2011. No value is attributed to moveable church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether for maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.

Other land and buildings held on behalf of the PCC for its own purposes are valued at a fair but prudent valuation which is considered to be a reasonable estimate of the current value “in use” of the property. No depreciation has been charged in respect of such properties as they are kept in sound condition and any expenditure on maintenance or improvement following regular review is written off as incurred. It is our policy, as a general rule, to commission a revaluation of our properties at least once every 5 years.

Routine replacements and renewals to technical systems and IT equipment are written off as expenditure in the SOFA . Other equipment purchases of under £1,000 are also written off as expenditure in the SOFA.

Pensions

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

Operating Leases

Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease.

Taxation

The charity is exempt from tax on its charitable activities.

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Notes to the Financial Statements

2 Analysis of Income (2024)

Analysis of Income (2024)
Donations and Legacies
Regular giving (incl online)
Income tax recoverable
One off donations (incl Gift Day)
Church collections
Legacies
Students & Young Adults ministry
Meals for You food project
Special collections & support (incl tax recoverable)
Grants
Charitable Activities
Trips, retreats and events
Parochial fees
Insurance income
Sundry income
Activities for Generating Income
Room hire
Investment Income
Interest Income
Other
Other Income
TOTAL INCOME		 Unrestricted
£
457,980
106,575
99,855
3,271
78,174
-
-
-
-
745,855
32,965
1,421
44,910
60
79,356
9,812
9,812
6,977
6,977
-
-
842,000		 Restricted
£
300
-
520
-
-
33,659
6,203
6,304
32,667
79,653
5,658
-
-
-
5,658
-
-
-
-
-
-
85,311		 Total (2024)
£
458,280
106,575
100,375
3,271
78,174
33,659
6,203
6,304
32,667
825,508
38,623
1,421
44,910
60
85,014
9,812
9,812
6,977
6,977
-
-
927,311

18

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

2 Analysis of Income (2023)

Analysis of Income (2023)
Donations and Legacies
Regular giving (incl online)
Income tax recoverable
One off donations (incl Gift Day)
Church collections
Legacies
Students & Young Adults project
Meals for You food project
Special collections & support (incl tax recoverable)
Grants
Charitable Activities
Trips, retreats and events
Parochial fees
Sundry income
Activities for Generating Income
Room hire
Investment Income
Interest Income
Other
Other Income
TOTAL INCOME		 Unrestricted
£
534,796
107,891
18,610
3,140
1,000
-
-
-
19,500
684,937
19,535
1,509
3,488
24,532
11,186
11,186
4,442
4,442
-
725,097		 Restricted
£
51
421
-
-
-
67,262
7,017
6,568
-
81,319
-
-
-
-
-
-
-
-
-
81,319		 Total (2023)
£
534,847
108,312
18,610
3,140
1,000
67,262
7,017
6,568
19,500
766,256
19,535
1,509
3,488
24,532
11,186
11,186
4,442
4,442
-
806,416

19

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

3 Expenditure on Charitable Activities (2024)

Unrestricted
£
Ministry
472,595
Activities
35,440
Missionary and charitable giving
28,500
Buildings and equipment (incl depreciation)
188,091
Administration
24,752
749,378
Expenditure on Charitable Activities (2023)
Unrestricted
£
Ministry
446,261
Activities
33,331
Missionary and charitable giving
29,556
Buildings and equipment
155,402
Administration
20,981
685,531		 Restricted
£
47,866
14,810
2,672
28,172
131
93,651
Restricted
£
1,935
7,987
5,567
1,050
162
16,701		 Total (2024)
£
520,461
50,250
31,172
216,263
24,883
843,029
Total (2023)
£
448,196
41,318
35,123
156,452
21,143
702,232

3 Expenditure on Charitable Activities (2023)

4 Support Costs

Staffing costs
Equipment maintenance and renewals
Administration costs (from note 3)		 2024
£
131,150
80,853
24,883
236,886		 2023
£
109,735
27,336
21,143
158,214

All support costs are included within the cost headings in note 3.

5 Parish Share

St. Saviour's, Guildford is a parish church of the Church of England in the Diocese of Guildford and, by means of Parish Share, helps the funding of ministers, particularly parochial clergy, throughout the Diocese, the work of various Diocesan bodies and work of the Church of England as a whole. The Diocese is a community resourcing a common task, and not a charity trying to raise funds to meet a need. In 2024, the amount paid by the PCC was £131,173 (2023: £150,057).

6 Volunteers

The church benefits greatly from the voluntary contributions of time and money by its members and regular attendees. Please refer to the Trustees' Annual Report for further details about volunteer contributions in the organisation.

20

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

7 Independent Examination Fees

Fees payable to the Independent Examiner for:

Independent Examination of the Financial Statements
Preparation of the Financial Statements		 2024
£
2,045
-
2,045		 2023
£
2,045
682
2,727

8 Staff Costs

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

Wages and salaries
Social security costs (Employer NI)
Employer contribution to pension plans
Total Employment Costs
Staff expenses and other costs
Total Staff Related Costs		 2024
£
315,823
13,916
24,311
354,050
9,651
363,701		 2023
£
242,656
11,140
19,374
273,170
22,112
295,282

The Rector is employed by the Diocese of Guildford and not by St Saviour's so their costs have not been included in the salary figures shown above but are accounted for in the payments to the Diocese of Guildford. St Saviour's is obliged to provide accommodation to its ordained staff. As clergy are ex-officio members of the PCC they are in effect related parties in relation to their accommodation.

The average head count of employees during the year was as follows:

Administration
Clergy
Other		 2024
8
3
6
17		 2023
5
3
6
14

The number of employees who received employee benefits of more than £60,000 during the year was as follows:

More than £60,000

2024 2023 - -

Key Management Personnel

The charity’s key management personnel comprise the trustees, and the executive committee, but excluding the Rector and Curate (Curate in 2023 only). Total employment costs of key management personnel was £158,911 (2023: £102,358).

21

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

9 Trustee Remuneration, Expenses, and Donations

Three trustees (2023: 3) (Kath Garner, Annabelle Varley, Lucy Webb) are remunerated by St Saviour's Church, and their remuneration / benefits are shown below. There are no outstanding balances or amounts written off during the year. The employment costs are dictated by employment contracts.

Graham Shaw is a trustee of the charity and receives housing benefits.

The church rents accomodation for Kath Garner, whereas Lucy Webb lives in a property owned by St Saviour's, and Graham Shaw lives in a property owned by the Diocese.

Employment costs
Housing costs
Employment costs
Housing costs		 2024
2023
£
£
40,953
-
27,662
16,200
68,615
16,200
2024
2023
£
£
31,756
32,046
3,795
5,295
35,551
37,341
Kath Garner
Lucy Webb		 2024
2023
£
£
19,332
15,463
-
-
19,332
15,463
2024
2023
£
£
-
-
3,970
3,307
3,970
3,307
Annabelle Varley
Graham Shaw		 2024
2023
£
£
19,332
15,463
-
-
19,332
15,463
2024
2023
£
£
-
-
3,970
3,307
3,970
3,307
Annabelle Varley
Graham Shaw
15,463
2023
£
-
3,307
Shaw
3,307

14 trustees received payments for expense claims during 2024 (2023: 11). These expenses mainly related to clergy housing expenses, ministry costs, and reimbursement for event costs.

The expenses reiumbursed to trustees during the year totalled £14,481 (2023: £7,102).

The aggregate value of donations made by PCC members and their spouses during 2024 was £115,780 (2023: £126,480).

22

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

10 Tangible Fixed Assets

Cost or Calculation
At 1st January 2024
Revaluation
Additions
Disposals
At 31st December 2024
Depreciation
At 1st January 2024
Depreciation charge
Depreciation disposal
At 31st December 2024
Net Book Value
At 31st December 2024
At 31st December 2023		 Freehold
Land &
Buildings
£
695,000
-
-
-
695,000
-
-
-
-
695,000
695,000		 Musical
Instruments
£
82,428
-
-
-
82,428
63,434
2,992
-
66,426
16,002
18,994		 Fixtures &
Fittings
£
47,080
-
61,685
-
108,765
44,540
10,748
-
55,288
53,477
2,540		 Equipment
£
280,759
-
4,583
-
285,342
168,867
30,011
-
198,878
86,464
111,892		 Total
£
1,105,267
-
66,268
-
1,171,535
276,841
43,750
-
320,591
850,944
828,426

The freehold land and buildings comprise:

5B Artillery Terrace is shown at a valuation of £695,000 which is its estimated saleable value at 31st December 2021 and a fair estimate of its current "value in use". The trustees consider that the valuation at the year end is not materially different to when the valuation was undertaken at the end of 2021. The original cost is not known.

11 Short Term Investments

Short Term Investments
Investment Portfolio Valuation (CCLA) 2024
£
112,776
112,776		 2023
£
107,092
107,092

23

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

12 Debtors

Debtors
Income tax recoverable
Prepayments
Other debtors		 2024
£
9,584
10,908
1,100
21,592		 2023
£
17,122
1,843
1,620
20,585

13 Creditors: amounts falling due within one year

Grants/donations payable
Amounts owed to suppliers
Staffing bills not yet invoiced or collected
Credit card payments unpaid
Parish share
Tax and pension costs
Accruals
Deferred income		 2024
£
2,672
6,364
22,009
6,663
-
-
3,930
980
42,618		 2023
£
6,052
15,910
8,847
5,338
-
3,826
4,687
3,360
48,020

24

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

14 Analysis of Charitable Funds (2024)

Unrestricted Funds
General funds
Designated
Legacies received
Global partners
Local partners
Accessibility
Projects & Events
Weddings & Funerals
House sale tithe
House sale TBA
Total Unrestricted
Restricted Funds
Special Collections
Fellowship fund
Specific Support
Food Project
Students & YA
Heating Project
SNYC
Total Restricted
Total Funds
Total
Housing fund
(revaluation
reserve)		 1 Jan 2024
£
245,159
695,000
940,159
12,893
30,991
1,724
565
645
-
5,334
91,369
1,083,680
-
6,924
6,178
9,101
67,101
-
-
89,304
1,172,984		 Income
£
740,064
-
740,064
78,174
-
-
-
22,341
1,421
-
-
842,000
5,161
-
1,963
6,203
66,326
-
5,658
85,311
927,311		 Expenditure
£
(689,035)
-
(689,035)
(10,156)
(14,500)
(14,000)
-
(19,470)
(1,421)
-
(796)
(749,378)
(3,263)
(2,904)
(3,079)
(9,724)
(69,806)
-
(4,875)
(93,651)
(843,029)		 Gains/Losses
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Transfers
£
18,408
-
18,408
-
20,400
13,600
-
-
-
-
(50,374)
2,033
(1,898)
4,056
(4,191)
-
-
-
-
(2,033)
-		 31 Dec 2024
£
314,596
695,000
1,009,596
80,911
36,891
1,324
565
3,516
-
5,334
40,199
1,178,335
-
8,076
871
5,580
63,621
-
783
78,931
1,257,266

25

St Saviour's Guildford Year Ended 31st December 2024

Notes to the Financial Statements

14 Analysis of Charitable Funds (2023)

Unrestricted Funds
General funds
Designated
Legacies received
Global partners
Local partners
Accessibility
Projects & Events
Weddings & Funerals
House sale tithe
House sale TBA
Total Unrestricted
Restricted Funds
Special Collections
Fellowship fund
Specific Support
Food Project
Students & YA
Heating Project
SNYC
Total Restricted
Total Funds
Total
Housing fund
(revaluation
reserve)		 1 Jan 2023
£
186,209
695,000
881,209
18,696
28,415
748
3,776
606
-
5,334
105,330
1,044,114
-
7,714
7,322
9,650
-
-
-
24,686
1,068,800		 Income
£
705,953
-
705,953
1,000
-
85
-
16,301
1,758
-
-
725,097
5,241
-
1,327
7,438
67,262
51
-
81,319
806,416		 Expenditure Gains/Losse Transfers
£
£
£
(646,066)
-
(937)
-
-
-
(646,066)
-
(937)
(5,003)
-
(1,800)
-
2,576
(827)
-
1,718
(3,211)
-
-
(14,705)
-
(1,557)
(1,758)
-
-
-
-
-
(13,961)
-
-
(685,531)
-
-
(5,241)
-
-
(790)
-
-
(2,471)
-
-
(7,987)
-
-
(161)
-
-
(51)
-
-
-
-
-
(16,701)
-
-
(702,232)
-
-		 31 Dec 2023
£
245,159
695,000
940,159
12,893
30,991
1,724
565
645
-
5,334
91,369
1,083,680
-
6,924
6,178
9,101
67,101
-
-
89,304
1,172,984

26

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

Explanation of Funds and Fund Transfers

Designated Funds

Legacies received When unrestricted legacies are received they are credited to this fund awaiting an appropriate use. Global partners Residual funds remaining from the church's budgeted missionexpenditure. Local partners Residual funds remaining from the church's budgeted missionexpenditure. Accessibility Provides finance for the purchase of equipment to enhance the Trekkers additional needs ministry and for alterations/additions to the church centre to improve the usability for those with physical disabilities and additional learning needs. Housing The net worth of the houses owned by the church (revalued amount less outstanding loans) is not available for use in the day to day work of the church and is excluded from the general fund. House sale tithe The remainder of 10% of the sale proceeds of 16 Cunningham Avenue to be given to mission partnerships. House sale TBA The remaining proceeds from the sale of 16 Cunningham Avenue in 2019. Projects and Events Income and expenditure related to cost-neutral trips, retreats and events. Restricted Funds Special Collections This fund amalgamates special collections made by the church for special appeals.

Fellowship fund This is money given to the church by individuals to support specific work or individuals through the fellowship fund. Specific Support This restricted fund receives money from donors who wish to support specific ministries. Food Project This fund is used for operation of the church's Meals For You Project. Students & YA Grant and donations towards the Students & Young Adults project 2024-2026, including the employment costs for the Associate Minister: Students & Young Adults. SNYC Funds for the operation of the SuperNatural Youth Conference run with other churches.

Fund Transfers 2024

Global and Local Partners

The 2024 allocation for the Global and Local Mission Partner grant payments.

House Sale TBA / Special Collections

Specific Support / Fellowship Fund

Transfers of assets purchased within the funds during the year to the unrestricted general fund.

Adjustment to correct for previous years accounting.

Fund Transfers 2023

Global and Local Partners

Legacies Received / Projects & Events

The 2023 allocation for the Global and Local Mission Partner grant payments.

Transfers of assets purchased within the funds during the year to the unrestricted general fund.

27

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

15 Analysis of Net Assets Between Funds

Fixed Assets
Current Assets
Creditors due within 1 year
Fixed Assets
Current Assets
Creditors due within 1 year		 Unrestricted
£
850,944
363,887
(36,496)
1,178,335
Unrestricted
£
828,426
303,274
(48,020)
1,083,680		 Restricted
£
-
85,053
(6,122)
78,931
Restricted
£
-
89,304
-
89,304		 Total (2024)
£
850,944
448,940
(42,618)
1,257,266
Total (2023)
£
828,426
392,578
(48,020)
1,172,984

16 Consecrated Land and Buildings and Other Church Property

The PCC has the use of church property which is excluded from the accounts by virtue of s.10(2) of the Charities Act 2011. Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC and which require a faculty for disposal are capitalised where appropriate and allocated to the appropriate fixed asset category. The Rectory is held in trust by the Guildford Diocese on behalf of the PCC. These properties are essential for the mission of the church and have been in use for many years. Accordingly, they have not been capitalised as there is insufficient cost information and their depreciated cost is unlikely to be material. All expenditure on consecrated or benefice buildings is written off in the year of expenditure.

17 Related Party Transactions

The following trustees or key management personnel (KMP) were directors or members of related entities or were connected to people or organisations in receipt of payments from St Saviour's:

Trustee or KMP Related Trusteeships Related Transactions Dan Bishop None Joy Bishop (spouse) was an employee of St Saviour's. Total employment costs in 2024 were £35,435 (2023: £32,914). Kath Garner None Tom Garner (spouse) was an employee of St Saviour's. Total employment costs in 2024 were £34,752 (2023: £32,914). Nicholas Varley Matthew 25:35 Trust Matthew 25:35 awarded a grant of £10,000

Matthew 25:35 awarded a grant of £10,000 towards the Students & Young Adults project.

28

St Saviour's Guildford

Year Ended 31st December 2024

Notes to the Financial Statements

18 Pension Scheme

St Saviour's Guildford participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.

CWPF has two sections:

  1. the Defined Benefits Scheme

  2. the Pension Builder Scheme, which has two subsections;

  3. a. a deferred annuity section known as Pension Builder Classic, and,

  4. b. a cash balance section known as Pension Builder 2014.

Pension Builder Scheme

Both sections of the Pension Builder Scheme are classed as defined benefit schemes.

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2024: £22,322, 2023: £17,708).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019.

For the Pension Builder Classic section, the 2019 valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2024, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 5% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2023. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. The next valuation is due as at 31 December 2022. Calculations for this are currently under way.

The legal structure of the scheme is such that if another employer fails, St Saviour's Guildford could become responsible for paying a share of the failed employer’s pension liabilities.

29