Parochial Church Council of St Mary the Virgin, Cuddington
ST MARY’S CHURCH PCC, CUDDINGTON, SURREY ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31[ST ] DECEMBER 2024.
Administrative information
St Mary’s Church is situated in The Avenue, Worcester Park. It is part of the Diocese of Guildford within the Church of England. The correspondence address is The Parish Office, The Avenue, Worcester Park, Surrey KT4 7HL.
The Parochial Church Council (PCC) is registered with the Charity Commission under number 1128308.
PCC members who have served from 1[st] January 2024 until the date of this report was approved are:
| Incumbent: | The Rev'd Theresa Ricketts | Chair | Until February 2024 |
|---|---|---|---|
| Retired Priest: | The Rev'd John Richardson | ||
| Canon Margaret Marsh | |||
| LLM (Reader): | Mr Jason Gray | ||
| Churchwardens: | Mr Dan Smithers | ||
| Mr Peter Harvey | |||
| Deanery | |||
| Representatives: | |||
| Mr Peter Harvey | |||
| Mr John Simon | |||
| Elected Members: | Mr Rodney Clarke | Vice Chair | |
| Mr David Eames | Treasurer | ||
| Mrs Samantha O'Shea | |||
| Mr Colin Hooper | Until May 2024 | ||
| Mrs Judith Peake | |||
| Mrs Daphne Richardson | |||
| Mrs Josephine Reynolds | |||
| Mrs Carolyn Harvey | |||
| Mr Shaun Potter | |||
| Mrs Jacqui Potter | |||
| Mrs Kate Nowak | |||
| Mr Michael Gittings | From May 2024 | ||
| Mr Steven Robbins | From May 2024 | ||
| Co-opted members: | Mrs Linda Charlton | ||
| Mrs Elena Hough | From May 2024 |
Structure, governance, and management.
The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. In February 2024, Rev Theresa Ricketts left the parish to take up a new role in the Diocese of Winchester. The process is under way to appoint a new Incumbent.
Objectives and Activities
St Mary’s PCC has the responsibility of co-operating with the incumbent in promoting, in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social, spiritual, and ecumenical.
Parochial Church Council of St Mary the Virgin, Cuddington
Achievements and Performance
There are 117 parishioners on the Church Electoral Roll. Throughout the year, services continued to be delivered via Zoom for those unable to attend the church in person. Regular Sunday attendance averaged 64 while additional services, principally at the great festivals, brought the annual average up to 69.
During the year, 4 funeral services were held and there were 2 internments of ashes. 4 couples were married, and there were baptisms of 12 children.
Financial Review
St Mary’s funds decreased by £4,053 in 2024, before the unrealized gains on the investments held in the Greenfield and Leverton Funds of £1,049. This resulted in a net decrease in total funds of £3,004.
General Fund
The General Fund had a deficit of £11,676 in the year. £19,650 was spent on repairs to the church roof and building in 2024. This was financed by a Gift Day held in December. £25,000 was transferred from the Bequests and Donations Fund to cover the deficit for the year and the budgeted shortfall in 2025.
Designated Fund
The Bequests and Donations Fund benefitted from the receipt of a legacy of £2,000 in the year.
Restricted Funds
Restricted Funds increased by £739 in the year. £2,542 of investment income was received. £1,741 was spent on supporting church music and £62 remaining in the roof fund was used for the repairs.
Reserves Policy
It is PCC policy to maintain a balance on free reserves (net current assets) which equates to at least six months’ unrestricted payments. This amounts to £78,229. It is held to smooth out fluctuations in cash flow and to meet emergencies. The balance of free reserves at year end was £159,842, held on unrestricted (including designated) funds.
Investments
It is PCC policy to invest cash, which is surplus to day-to-day requirements, with the Church of England Deposit Fund (administered by CCLA).
I would like to thank Malcolm Coffey, our Independent Examiner, for his efficient and thorough review of the accounts, and his advice and comments. The Independent Examiner’s Report, together with the accounts below, form part of the report filed with the Charity Commission and may be viewed on their website. Many thanks again to Jacqui and Colin Hooper for counting and banking our collections and other receipts each week. They also administer our Planned Giving scheme, and I would like to thank them for the efficient way they record our Planned Giving and claim the associated Gift Aid Tax.
David Eames, Treasurer
Parochial Church Council of St Mary the Virgin, Cuddington
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Incoming Resources (£154,209)
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Other Giving (incl Tax) Hall Lettings £22,063
£29,746
Weddings etc.£2,764
Fundraising income
£6,294
Investment Income
£8,024
Catering,books £837
Planned Giving (incl
Tax) £84,039 Sundry £642
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Resources Expended (£158,261)
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Building Works £19,650
Fundraising Costs £106
Sundry Costs £5,423
Mission & Evangelism
£19 Stipends Quota
£68,445
Trading Costs (inc. Hall)
£10,441
Church Running Costs
£20,997
Ministry Costs £7,642
Other Parish Share
£25,538
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Parochial Church Council of St Mary the Virgin, Cuddington
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Incoming Resources Notes _ Income from generated funds Voluntary Income 2a Activities for Fundraising 2b Income from investments 2c Church Activities 2d Other Incoming Resources 2e Total Incoming Resource Resources Expended Cost of Generating Funds Fundraising Trading 3a Church Activities 3b Other Resources Expended 3c Total Resources used Net Incoming Resources Before Transfers Transfers between Funds 8 Net Incoming Resources After Transfers (Loss)/ Gains on Investments 4 Net Movement of Funds Total Funds b/fwd 1 Jan 8 Total Funds c/fwd 31 Dec 8 |
Unrestricted General Designated _ _ £ £ 111,779 2,000 6,294 - 598 4,884 25,469 - 642 - 144,782 6,884 0 106 - 134,678 - 21,674 - 156,458 - (11,676) 6,884 25,000 (25,000) 13,324 (18,116) - - 13,324 (18,116) 22,500 142,134 35,824 124,018 |
Restricted Endowment _ _ £ £ 0 - 0 - 2,542 - - - - - 2,542 - 0 0 - - 1,741 - 62 - 1,803 - 739 - - - 739 - - 1,049 739 1,049 37,236 45,796 37,975 46,845 |
2024 2023 _ _ £ £ 113,779 98,005 6,294 6,898 8,024 8,731 25,469 23,837 642 1,000 |
|---|---|---|---|
| 154,208 138,471 |
|||
| 106 288 136,419 141,602 21,736 0 |
|||
| 158,261 141,890 |
|||
| (4,053) (3,419) - - |
|||
| (4,053) (3,419) 1,049 3,937 |
|||
| (3,004) 518 247,666 247,148 |
|||
| 244,662 247,666 |
P•rochlal Church Coundl of St Mary the Vlryln. Cuddlngton BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Flx¢d Assets Invlments 46.845 45.796 Current As$ot$ Bank and Ch B•lanc•8 Sundry Dobt0rn 191581 8,898 199.432 5,236 Currnnt Llabllltl81 Sundry Crodltorn 13.0621 {2,7981 244,662 247,666 Th• Fund• of the Charlty Unrostrlctsd Funds- G•nernl Unr••trl¢tsd Fund•- DMlgnat•d Rostrlcted Funds Endowmont Fund8 35,824 124,018 37,975 46,845 22,5LK) 142,134 37,236 45,796 Tot•1 Funds 244.662 247,666 Approved by the PCQ" Chalr Date.. 18 FEB 202
NOTES TO THE FINANCIAL STATEMENTS
For the year ending 31st DECEMBER 2024
Note
1 Accounting Policies
The financial statements have been prepared on the Prepayments and Accruals basis in accordance with Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP (FRS 102).
The statements have been prepared under the historical cost convention, except for investment assets which are shown at market value.
Funds
Unrestricted Funds represent the funds of the Parochial Church Council (PCC) that are not subject to any restrictions concerning their use and are available for application to the general purposes of the PCC. These include funds that the PCC may designate for s p e c i f i c purposes. The purpose of each fund is noted in the accounts.
The accounts include only those transactions, assets, and liabilities for which the PCC is responsible in law. They do not include funds raised specifically for other charitable bodies nor the accounts of church groups that owe affiliation to another body or those of informal gatherings of church members.
Incoming Resources, Voluntary Income and Capital Sources
Collections are recognised when received by or on behalf of the PCC. Planned Giving is recognised only when it is received. Tax recoverable under Gift Aid is recognised when the income is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable, and its ultimate receipt by the PCC is reasonably certain. Funds raised through social events are accounted for gross wherever possible. Sales of books are accounted for gross. Income from the hire of church premises is recognised when the rental income is due. Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue and are apportioned according to the average balance of funds, to which they apply, over the accrual period. Realised gains and losses are recognised when investments are sold. Unrealized gains and losses are accounted for on revaluation on 31st December.
Resources Expended
Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the PCC. The Diocesan Parish Share is accounted for when paid. Any Parish Share unpaid at 31[st] . December is provided for as an operating liability and is shown as a creditor in the Balance Sheet.
Fixed Assets
Consecrated and benefice property is not included in the accounts in accordance with s10(2) of the Charities Act 2011. Attached to the church is a meeting room complex that is not included in the accounts.
Fixtures, Fittings and Office Equipment
Equipment used within the church premises is written off when acquired.
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ending 31st DECEMBER 2024
| 2 Incoming Resources 2a Voluntary Income Gift Aided Planned Giving Other Planned Giving Collections at Services All other giving (inc Gift Day) All Tax Recovered through Gift Aid Legacies and grants received 2b Activities For Fundraising Fundraising Events 2c Income from Investments Dividends Interest 2d Church Activities Wedding & Funeral Fees Wedding & Funeral Additional Items Church Hall Lettings Fees Catering income, sale of books 2e Other Incoming resources Insurance Claims & Sundry Income Incoming Resources Total |
2024 2023 Unrestricted Designated Restricted Endowment Total Total Funds Funds Funds Funds Funds Funds £ £ £ £ £ £ 64,173 - - - 64,173 58,874 3,435 - - - 3,435 3,991 2,772 - - - 2,772 3,720 20,131 - - - 20,131 13,888 21,268 - - - 21,268 17,532 - 2,000 - - 2,000 - |
|---|---|
| 111,779 2,000 0 - 113,779 98,005 |
|
| 6,294 - - - 6,294 6,898 |
|
| 6,294 - - - 6,294 6,898 |
|
| - - 1,271 - 1,271 1,252 598 4,884 1,271 - 6,753 7,479 |
|
| 598 4,884 2,542 - 8,024 8,731 |
|
| 2024 2023 Unrestricted Designated Restricted Endowment Total Total Funds Funds Funds Funds Funds Funds £ £ £ £ £ £ 1,625 - - - 1,625 1,345 944 - - - 944 1,041 22,063 - - - 22,063 20,605 837 - - - 837 846 |
|
| 25,469 - - - 25,469 23,837 |
|
| 642 - - - 642 1,000 |
|
| 642 - - - 642 1,000 |
|
| 144,782 4,884 2,542 - 154,208 138,471 |
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ending 31st DECEMBER 2024
| 3 Resources Expended 3a Fundraising trading Fundraising Costs 3b Church Activities Mission Giving Stipends Quota Ministry Parish Share Parish office salaries etc. Ministry Expenses Evangelism (inc work with young people) Church Running Expenses - Building & Assets Church Running Expenses - Parish Office Church Running Expenses - Provision of Services Church Running Expenses - Grounds Church Utility Bills Trading Costs (incl. Hall) Catering, books, etc. Sundry 3c Other Resources Expended Building work Vacancy costs Resources Expended Total |
2024 2023 Unrestricted Designated Restricted Endowment Total Total Funds Funds Funds Funds Funds Funds £ £ £ £ £ £ 106 - - - 106 288 |
|---|---|
| 106 - - - 106 288 |
|
| - - - - 0 0 68,445 - - - 68,445 63,080 25,538 - - - 25,538 26,275 7,128 - - - 7,128 827 514 - - - 514 2,488 19 - - - 19 32 6,394 - 15 - 6,409 15,658 2,299 - - - 2,299 2,077 5,988 - 1,726 - 7,714 9,596 423 - - - 423 394 4,152 - - - 4,152 5,473 10,441 - - - 10,441 13,360 209 - - - 209 192 3,128 - - - 3,128 2,150 |
|
| 134,678 - 1,741 - 136,419 141,602 |
|
| 19,588 - 62 - 19,650 - 2,086 - - - 2,086 - |
|
| 21,674 - 62 - 21,736 - |
|
| 156,458 - 1,803 - 158,261 141,890 |
NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31st DECEMBER 2024
4 Investments
Investments comprise shares held in the CBF Church of England Investment Fund and represent the principal of the Greenfield Legacy Fund and the Leverton Fund (note 8). These are Endowment funds £
| Balance on 1st January 2024 Surplus on revaluation Balance on 31st December 2024 5 Bank and Cash Balances National Westminster Bank Short Term Deposits Petty Cash 6 Sundry Debtors Income Tax Recoverable 7 Sundry Creditors Accounts Payable Agency Collections |
45,796 1,049 46,845 2024 £ 41,404 150,448 129 191,981 2024 £ 8,898 8,898 2024 £ 1,373 1,689 3,062 |
2023 £ 30,431 168,853 148 |
|---|---|---|
| 199,432 | ||
| 2023 £ 5,236 |
||
| 5,236 | ||
| 2023 £ 1,536 1,262 |
||
| 2,798 |
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ending 31st DECEMBER 2024
Funds of the Charity
| 01/01/24 | Incoming | Resources | Gains/(losses) | Transfers | 31/12/24 | ||
|---|---|---|---|---|---|---|---|
| on | |||||||
| Resources | Expended | Investments | |||||
| £ | £ | £ | £ | £ | £ | ||
| Unrestricted Funds: | |||||||
| General Fund | 22,500 | 144,782 | (156,458) | - | 25,000 | 35,824 | |
| Designated - Bequests & Donations Fund | 142,134 | 6,884 | - | - | (25,000) | 124,018 | |
| 164,634 | 151,666 | (156,458) | - | - | 159,842 | ||
| Restricted Funds: | |||||||
| Restricted | - Greenfield Fund | 15,148 | 1,355 | (1) | - | - | 16,502 |
| - Organ and General Music Fund | 15,462 | 508 | (1,741) | - | - | 14,229 | |
| - Roof Fund | 61 | (61) | - | - | - | ||
| - Spiritual Development Fund | 3,500 | 121 | - | - | - | 3,621 | |
| - Leverton Room | 3,065 | 558 | - | - | - | 3,623 | |
| 37,236 | 2,542 | (1,802) | - | - | 37,975 | ||
| Endowment Funds: | |||||||
| Greenfield | 29,725 | - | - | 681 | - | 30,406 | |
| Leverton | 16,071 | - | - | 368 | - | 16,439 | |
| 45,796 | - | - | 1,049 | - | 46,845 | ||
| Total Funds | 247,666 | 154,208 | (158,260) | 1,049 | - | 244,662 |
Designated Fund
The Bequests Fund holds any legacies or larger donations that are received where no specific conditions have been laid down for their use. Funds are transferred to other funds when required and authorized by the PCC.
.
Restricted Funds
The Greenfield Fund was set up when a former churchwarden donated a capital sum to generate income for the maintenance of his gifts to the church, namely the West Window, the two most westerly windows in the South Wall and the Lych-gate. It derives its income from the dividends on the capital sum invested as the Greenfield Legacy Fund.
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ending 31st DECEMBER 2024
The Organ and General Music Fund (previously The Music Development Fund) was created in 1996 by the renaming of the Organ and Choir Fund, which had previously been reported as part of the Bequests and Donations Designated Fund and is to be used to meet the needs of the choir and music in general. Following a successful appeal for funds for the repair of the organ, this fund was renamed and will be used for all aspects and requirements for church music.
The Roof Fund was set up in November 2012 to receive donations towards the roof and other repairs identified at the latest Quinquennial Inspection earlier in that year. The work is now completed with provision for most of the costs made in the 2013 accounts. It has also been used to fund the insurance excess following a theft of lead from the roof in 2013. The balance remaining in the fund was used for roof repairs in 2024 and the Fund is now closed.
The Spiritual Development Fund was set up in October 2014 on receipt of donations specifically for the promotion of individual and group spiritual development, particularly outside of the parish. It will be used to help individuals to meet the cost of their spiritual development .
The Leverton Room Fund was set up in 2015 following the receipt of a £10,000 legacy from Peter Leverton. The income from the legacy is used to maintain the Leverton Room.
9 Related Party Transactions
There were no related party transactions in 2024.
.
Independent Examiner's Report to the PCC of St. Mary. The Virgin. Cuddington I report on the a¢¢ounts for the year ended 31 December 2024, which are set out on the preceding 8 pages. Respectlv8 r8sponslbllltlès of the PCC and the Examiner Thè charily's trustees are responsible for the preparation of the accounts. The charity's trustees ¢onsider Ihat an audil is not required for this year under section 144(2) of the Charitie5 Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility lo.. Examine the accounts under sedion 145 of the Charities Acl., to follow the procedures laid down in the general Directions given by the Charity Commission under section 145{51{bl of the Charits'es Act., and to state whether any matters have come to my attentio Basis of the Independent Examlnefs Statement My examination was carried out in accordance with the general Directions given by Ihe Charity Commission. An examination includes a review of the accounting records keo by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as lo whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent Examlnerfs Slatement In connection with my examination, no matter has Come lo my attention= iii which gives me reasonable cause lo believe that in. any material respect. the requirements.. to keep accounting records in accordance wrth section 130 of the Charities Act, and lo prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charilies Act have not been met., or 121 to which, in my opinion, attention should be drawn, to enable a proper understanding of the accounts to be reached. Mr. D Malcolm Coffey 15 Auriol Park Road Worcester Park Surrey I4 70P Signed." Date.. &)2