**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**
**----- Start of picture text -----**
Incoming Resources (£154,209)
**----- End of picture text -----**
**----- Start of picture text -----**
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
**----- End of picture text -----**
## **Resources Expended (£158,261)**
**----- Start of picture text -----**
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
**----- End of picture text -----**
**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