## St. Nicholas Church Thames Ditton
Annual Report and Financial Statements For the year ended 31 December 2025
The Parochial Church Council of the Ecclesiastical Parish of Thames Ditton
is a registered charity number 1128454 Church code 617146
_The Parish Office Summer Road Thames Ditton Surrey KT7 0QQ_
_0208 398 9641 stnicparishoffice@btinternet.com_ http://www.stnicholaschurch.org.uk
St. Nicholas’ Church THAMES DITTON GROWING IN NUMBERS • DEEPENING OUR FAITH SERVING OUR COMMUNITY
## **Contents**
||Page|
|---|---|
|Report of the Parochial Church Council|2|
|Independent Examiner’s Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9|
1
St. Nicholas Church Thames Ditton
Page
## **Report of the Parochial Church Council**
## **Objectives and activities**
The Parochial Church Council of the Ecclesiastical Parish of Thames Ditton (th e “PCC”) has the responsibility of co-operating with the incumbent, Rev. Andrew Cowie, in promoting the mission of the Church as partners in the work of the gospel ministry.
The PCC , having had regard to the Charity Commission’s guidance on public benefit , consider that in following these priorities and by furthering the whole mission of the Church (pastoral, evangelistic, social and ecumenical), a benefit is provided to the public in particular by:
- providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers; and
- promoting Christian values, and service by members of the Church in and to our community, to the benefit of individuals and society as a whole.
It also has oversight of the financial affairs of St. Nicholas Church Thames Ditton (“St. Nicholas”) and maintenance responsibilities for the buildings thereof.
## **Financial Review of the Year**
– 2025 operating expenses totaled £232,000 being an 11% increase on 2024. Our Parish Share was increased by 2% to £95,400.
Some £38,000 (2024: £22,000) was spent on repairs and maintenance including repairs to the roof at the bell tower, updating of electrical works at the Church and the Hall together with refreshing Quinton Road with new carpets, a new boiler and a new garage roof.
Compared to 2024, parishioner giving decreased by 11%, on top of a 5% decrease in the prior year.
All this could have been grim, but our get out of jail card was once again being the beneficiary of a legacy in the sum of £127,000 so the final outturn was actually an operating surplus of £74,000
Formal data settling out income and expenditure is set out on pages 7 to 18 and can be summarized as
follows:
**Income**
**----- Start of picture text -----**
Our total income was
£305,964 (2024:
£210,186)
**----- End of picture text -----**
Page 2
St. Nicholas Church Thames Ditton
## **Expenditure**
**----- Start of picture text -----**
Our total expenditure
was £231,815 (2024:
£209,170)
**----- End of picture text -----**
At the year end, the net current assets, including restricted funds, amounted to £171,000 (2024: £93,000).
The endowment funds from which we receive income decreased in value by £14,000 during the year (2024: increase of £7,800).
## **Statement of Trustees Responsibilities**
The members of the PCC, who are the Trustees of the charity for the purposes of charity law, are responsible for preparing the Trustees ’ Annual Report and the financial statements in accordance with applicable law, regulations and accounting standards.
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 PCC's financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, the members of the PCC are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the PCC will not continue in operation.
The members of the PCC are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the financial statements comply with the applicable law. They are also responsible for safeguarding the assets of the PCC and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
St. Nicholas Church Thames Ditton
## **Structure, Governance and Management**
The Parochial Church Council of the Ecclesiastical Parish of Thames Ditton is a Church of England parish in the Diocese of Guildford. It is a registered charity, number 1128454, with registered address at The Parish Office, Summer Road, Thames Ditton, Surrey KT7 0QQ.
As a parish church within the Church of England (CofE), St. Nicholas is constituted within the Parochial Church Councils (Powers) Measure 1956. Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules and, by dint of membership, become the charity's Trustees. All Church attendees are encouraged to register on the Electoral Roll and to consider standing for election to the PCC. Prospective new PCC members / trustees are advised of PCC membership and Trusteeship duties and responsibilities by means of receipt and discussion of the CofE PCC Standing Orders and the Trusteeship booklet produced jointly by the Archbishop's Council and the Charity Commission.
The PCC meets on a regular basis and is responsible for policy approvals and decisions, significant nonroutine expenditure approval, identification, assessment and mitigation of risks, and other significant decision-making including the ratification of any proposals submitted by church sub-committees.
The Standing Committee, a sub-set of the PCC membership, meets between PCC meetings and may take decisions on the PCC's behalf. The Rev. Andrew Cowie, incumbent, serves as Chairman of the PCC.
During the year, and up to the date of approval of this Annual Report and Financial Statements, the following served as members of the PCC:
|erved as members of the PCC:|||||||||
|---|---|---|---|---|---|---|---|---|
|||Churchwarden|||PCC||Deanery|Synod|
|||Full|Part|Full||Part|Full year|Part|
|||Year|year|Year||year||year|
|**Vicar**|||||||||
|Rev. Andrew Cowie|*||||||||
|Curate|||||||||
|Rev. Ruth Sheldon (née Philips)|*|t|||||||
|Churchwardens|||||||||
|Elaine Heptonstall
*
Catherine Traub
*
|||||||||
|Laity|||||||||
|Åse Anderson|||||||||
|Sara Davis|||||||||
|Alex Dunne|*||||||||
|Amanda Ecclestone||r|||||||
|Nathalie Hamberger
Emma Macfarlane
a
Neil Mears
Siva Oke
r
David Parish
a
|||||||||
|Martin Perrin (Treasurer)|*||||||||
|Reuben Rhuphus|||||||||
|Lloyd Smith|||||||||
## Notes:
- t tour of duty as curate ended 23 March 2025 r retired at APCM 25 May 2025
a appointed at APCM 25 May 2025
* also a Standing Committee Member
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St. Nicholas Church Thames Ditton
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## **Reserves**
Reserves held reflect three different objectives:
- (a) Endowment funds are funds which have been specifically endowed for the benefit of the activities of the PCC who receive the income arising from the funds, but are not able to spend the capital invested.
- (b) Restricted funds are funds which have been given to the PCC for a specific purpose and which are held pending disbursement in accordance with the mandate for which they were given.
- (c) Unrestricted funds reflect the accumulated unspent net income: these funds are held for prudence in providing a buffer to meet projected or unusual or exceptional needs.
Further details of the reserves held are set out in note 13 to the Financial Statements. There are no funds in deficit.
Approved by the Parochial Church Council on 9 March 2026
**Rev. Andrew Cowie** Vicar
5
St. Nicholas Church Thames Ditton
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## **Independent Examiner’s Report**
## **to the Members of the Parochial Church Council of St. Nicholas, Thames Ditton**
I report to the PCC members on my examination of the accounts of the Parochial Church Council of St. Nicholas, Thames Ditton for the year ended 31st December 2025.
## **Responsibilities and basis of report**
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the PCC accounts 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**
Since the charity ’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England & Wales, 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 Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts 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.
## Zachary Ramsden
**Zachary Ramsden FCA** 10th March 2026
63 Deakin Leas, Tonbridge, Kent TN9 2JT
6
St. Nicholas Church Thames Ditton
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## **Statement of Financial Activities**
For the year ended 31 December 2025
|||**Unrestricted**|**Restricted**|**Endowment**|**Total**|Total|
|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**2025**|2024|
||Note|**£**|**£**|**£**|**£**|£|
|Income and Endowments|2||||||
|Voluntary income||221,302|5,060|-|**226,362**|137,791|
|Activities for generating funds||1,696|3,446|-|**5,142**|5,384|
|Church activities||42,244|78|-|**42,322**|53,138|
|Income from investments||22,391|9,747|-|**32,138**|13,873|
|Other incomingresources||-|-|-|**-**|-|
|**Total income and**|||||||
|**endowments**||287,633|18,331|-|**305,964**|210,186|
|Expenditure|**3**||||||
|Cost of generating voluntary|||||||
|income||204|406|-|**610**|700|
|Church activities||196,982|14,576|-|**211,558**|205,688|
|Costs of investment property||19,147|-|-|**19,147**|2,782|
|Governance costs||500|-|-|**500**|-|
|Totalexpenditure||216,833|14,982|-|**231,815**|209,170|
|Net incoming/(outgoing)|||||||
|resources||70,800|3,349|-|**74,149**|1,016|
|Transfers between funds||-|-|-|**-**|-|
|Investmentgains/(losses)|9|-|-|(14,023)|**(14,023)**|7,848|
|**Net movement in funds**||70,800|3,349|(14,023)|**60,126**|8,864|
|Balances brought forward||453,382|5,467|350,772|**809,621**|800,757|
|Balances carried forward||524,182|8,816|336,749|**869,747**|809,621|
The notes on pages 9 to 18 form part of these financial statements. Note 14 elaborates the prior year comparatives.
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## **Balance Sheet**
As at 31 December 2025
|Charity number 1128454
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2025**
Total
2024
Note
**£**
**£**
**£**
**£**
£
Fixed Assets
Tangible fixed assets
8
361,265
-
-
**361,265**
365,820
Investments
9
-
-
336,749
**336,749**
350,772|Charity number 1128454
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2025**
Total
2024
Note
**£**
**£**
**£**
**£**
£
Fixed Assets
Tangible fixed assets
8
361,265
-
-
**361,265**
365,820
Investments
9
-
-
336,749
**336,749**
350,772|
|---|---|
|361,265
-
336,749
**698,014**|716,592|
|Current assets
Debtors and prepayments
10
9,042
-
-
**9,042**
Cash
11
189,981
-
-
**189,981**|26,445
84,403|
|199,023
-
-
**199,023**
Current liabilities
12
(36,106)
8,816
-
**(27,290)**|110,848
(17,819)|
|Net current assets
162,917
8,816
-
**171,733**|93,029|
|||
|Net Assets
524,182
8,816
336,749
**869,747**|809,621|
|||
|Parish Funds
13
524,182
8,816
336,749
**869,747**|809,621|
The notes on pages 9 to 18 form part of these financial statements. Note 15 elaborates the prior year comparatives.
These financial statements were approved by the Parochial Church Council on 9 March 2026.
Signed on behalf of the Parochial Church Council
**Martin Perrin FCA, FCSI** Treasurer
Page 8
St. Nicholas Church Thames Ditton
## **Notes to the Financial Statements**
For the year ended 31 December 2025
## **1 Accounting policies**
## **(a) General information**
The Parochial Church Council of the Ecclesiastical Parish of Thames Ditton is a registered charity, number 1128454 and having its office address at The Parish Office, Summer Road, Thames Ditton Surrey KT7 0QQ.
The principal activities of the Parochial Church Council are described in the Report on page 2.
## **(b) Basis of preparation**
The financial statements have been prepared on an accruals basis and in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as updated), the Church Accounting Regulations 2006 and the Charities Act 2011.
The financial statements have been prepared under the historical cost convention except for the valuation of investments in CBF funds which are shown at mid-market value.
The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor do they include groups that are informal gatherings of church members.
The PCC have formed a judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Parochial Church Council has adequate resources to continue in operational existence for the foreseeable future. For this reason the PCC continue to adopt the going concern basis in preparing the financial statements.
## **(c) Funds**
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds are those funds that must be spent on restricted purposes and details of the funds held and restrictions are provided in note 13.
These financial statements do not include the accounts of four connected charities which are separate trusts in their own right:
Thames Ditton Ecclesiastical Charity
The Bequest of Florence Evelyn Pegge (registered charity number 1025542)
Sir Charles Sullivan No 1 Fund
The Hannibal Speer Hall Trust
## **(d) Incoming Resources**
Voluntary income and capital sources
Offerings and collections are recognized when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognized only when received. Tax recoverable on Gift Aid donations is recognized when the donation is recognized.
Grants and legacies to the PCC are accounted for when the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.
Statutory Parochial fees are receivable on weddings, funerals and other events, and that part of the fees due to the PCC are included in these accounts. The PCC also collects and pay over fees due to the Diocese of Guildford.
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St. Nicholas Church Thames Ditton
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## **Notes to the Financial Statements**
For the year ended 31 December 2025
Rental income from the letting of church property is recognized on an accruals basis.
Dividends are accounted for when received. The impact of accounting upon receipt rather than ex-date is not considered material.
Interest entitlements are accounted for as they accrue or, where not material, upon receipt.
The value of services provided by volunteers is not accounted for in these financial statements.
## **(e) Resources Used**
Activities directly relating to the work of the Church are expensed as incurred.
The Diocesan Parish Share is accounted for when due.
## **(f) Fixed assets**
Consecrated property and movable church furnishings
Consecrated and beneficed property of any kind is excluded from the financial statements pursuant to s.10.2 of the Charities Act 2011. Movable church furnishings, held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal, are inalienable property unless consecrated: they are listed in the Church's inventory, but are not recorded as assets of the PCC.
All expenditure incurred in the year on consecrated or beneficed buildings, and the repair of movable church furnishings is written off in the year they are incurred.
## Church Hall
Up until December 2015 no depreciation was provided for in relation to the Church Hall which was built during 1985/7 and had been deemed to have a remaining useful life exceeding 50 years. In 2016, the estimated remaining life of the Church Hall was assessed as being 50 years and depreciation then commenced accordingly.
## Other real property
No depreciation is being charged to the cost of the house in Quinton Road since its present value stands at a premium to its carrying value in these accounts, being book cost, and is deemed to have a remaining useful life exceeding 50 years.
Fixtures, fittings and equipment
Small value items under £1,000 are treated as operating expenses. Where equipment is capitalised, it is written off over its expected useful life, normally between 3 and 5 years.
## Investments
Investments are marked to mid-market price and investment gains and losses, both realised and unrealised, reflected in the Statement of Financial Activities.
## **(g) Financial leases**
Rentals payable under financial leases are apportioned between the interest expense element and the element relating to repayment of the capital sum.
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St. Nicholas Church Thames Ditton
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## **Notes to the Financial Statements**
For the year ended 31 December 2025
## **2 Incoming resources**
|||**Unrestricted**|**Restricted**|**Endowment**|**Total**|Total|
|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**2025**|2024|
|||**£**|**£**|**£**|**£**|£|
|**Voluntary income**|||||||
|Planned giving:||67,545|-|-|**67,545**|78,604|
|Donations, appeals & other giving||7,865|2,415|-|**10,280**|8,185|
|Tax recoverable||18,255|-|-|**18,255**|20,611|
|Legacies||126,637|-|-|**126,637**|16,791|
|Grants from Charitable trusts|4|
-|145|-|**145**|11,600|
|Grants frompublic bodies|4|1,000|2,500|-|**3,500**|2,000|
|||221,302|5,060|-|**226,362**|137,791|
|**Activities for generating funds**|||||||
|Community events||-|3,446|-|**3,446**|3,460|
|Parent &Toddler||1,000|-|-|**1,000**|-|
|Other||696|-|-|**696**|1,924|
|||1,696|3,446|-|**5,142**|5,384|
|**Church activities**|||||||
|Fees||5,517|78|-|**5,595**|4,112|
|Garden of Remembrance Plaques||2,184|-|-|**2,184**|2,082|
|Hall Lettings||34,543|-|-|**34,543**|46,230|
|Other||-|-|-|**-**|714|
|||42,244|78|-|**42,322**|53,138|
|**Income from investments**|||||||
|Bank interest||3,141|-|-|**3,141**|4,213|
|Dividends||-|9,747|-|**9,747**|9,660|
|Income frompropertyassets||19,250|-|-|**19,250**|-|
|||22,391|9,747|-|**32,138**|13,873|
|**Other incoming resources**|||||||
|Insurance claims||-|-|-|**-**|-|
|||-|-|-|**-**|-|
||||||||
|**Total incoming resources**||287,633|18,331|-|**305,964**|210,186|
Page 11
St. Nicholas Church Thames Ditton
## **Notes to the Financial Statements**
For the year ended 31 December 2025
## **3 Resources expended**
|||**Unrestricted**|**Restricted**|**Endowment**|**Total**|Total|
|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**2025**|2024|
|||**£**|**£**|**£**|**£**|£|
|**Cost of generating voluntary**|||||||
|**income**|||||||
|Cost of activities||204|406|-|**610**|700|
|||204|406|-|**610**|700|
|**Church activities**|||||||
|Missionary & Charitable Giving|5|1,000|465|-|**1,465**|10,071|
|Parish Share and clergy costs to|||||||
|Diocese||87,799|7,614|-|**95,413**|93,606|
|Costs of ministry and mission||23,082|3,872|-|**26,954**|19,626|
|Church running & maintenance||27,560|1,502|-|**29,062**|15,490|
|Upkeep of churchyards||6,088|787|-|**6,875**|17,034|
|Church Hall costs||24,812|336|-|**25,148**|26,836|
|Management & admincosts||26,641|-|-|**26,641**|23,025|
|||196,982|14,576|-|**211,558**|205,688|
|**Costs of investment property**|||||||
|UpkeepofQuinton Road||19,147|-|-|**19,147**|2,782|
|||19,147|-|-|**19,147**|2,782|
|Governance costs|||||||
|Independent examiner||500|-|-|**500**|-|
|||-|-|-|**-**|-|
|||500|-|-|**500**|-|
|**Total resources expended**||216,833|14,982|-|**231,815**|209,170|
Page 12
St. Nicholas Church Thames Ditton
## **Notes to the Financial Statements**
For the year ended 31 December 2025
## **4 Grants Received**
|**4 Grants Received**||||||
|---|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Endowment**|**Total**|Total|
||**Funds**|**Funds**|**Funds**|**2025**|2024|
||**£**|**£**|**£**|**£**|£|
|Bequest of Florence Evelyn||||||
|Pegge†|-|-|-|**-**|7,500|
|Thames Ditton Ecclesiastical||||||
|Charity†|-|-|-|**-**|2,500|
|Sir Charles Sullivan (No 1 Fund)†|-|145|-|**145**|-|
|Thames Ditton Foundation|-|-|-|**-**|600|
|Walton Trust|-|-|-|**-**|1,000|
|Grants received from Charitable||||||
|Trusts|**-**|**145**|**-**|**145**|11,600|
|Elmbridge (Warm Hub)|-|1,000|-|**1,000**|-|
|Elmbridge (Men-in-Sheds)|-|2,500|-|**2,500**|-|
|SurreyCC(Warm Hub)|-|-|-|**-**|2,000|
|Grants frompublic bodies|**-**|**3,500**|**-**|**3,500**|2,000|
|||||||
|**Total**|**-**|**3,645**|**-**|**3,645**|13,600|
> † Related party
## **5 Missionary and charitable giving**
Charitable giving out of St Nicholas Church funds was disbursed as follows:
||**Unrestricted**|**Restricted**|**Endowment**|**Total**|Total|
|---|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**2025**|2024|
||**£**|**£**|**£**|**£**|£|
|Mission Aviation Fellowship|-|-|-|**-**|1,100|
|Tear Fund|-|-|-|**-**|1,100|
|Christian SolidarityWorldwide|-|-|-|**-**|1,100|
|ChurchOverseas|-|-|-|**-**|3,300|
|New Wine Trust|-|-|-|**-**|1,100|
|London City Mission|-|-|-|**-**|1,100|
|All Saints Weston Green|1,000|-|-|**1,000**||
|All Saints Bloxwich|-|-|-|**-**|1,100|
|Home Missions|1,000|-|-|**1,000**|3,300|
|Princess Alice Hospice|-|465|-|**465**|1,000|
|Molesey Night Shelter||||**-**|1,100|
|Hardship fund|-|-|-|**-**|1,230|
|Children’s Society|-|-|-|**-**|141|
|Mission support and other|-|465|-|**465**|3,471|
|||||||
|**Total**|1,000|465|-|**1,465**|10,071|
The normal overall plan of giving was not resolved before the year end and hence what otherwise would have been disbursed or accrued has not been so in this financial year.
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## **Notes to the Financial Statements**
For the year ended 31 December 2025
## **6 Staff costs**
|**6 Staff costs**||
|---|---|
|**2025**
**£**|2024
£|
|Wages, salaries and other staff costs
**21,610**
Social security costs
**-**
Other honoraria and staff costs
**9,225**|21,193
-
8,504|
|Total resources expended
**30,835**|29,697|
|Being attributed to:
Costs of ministry and mission
**7,457**
Church running & maintenance
**5,096**
Management&admin costs
**18,282**|8,504
3,152
18,041|
|**30,835**|29,697|
The average number of full or part-time equivalent employees in the year was 2 (2024: 2).
No trustee (PCC member) received any remuneration or received any other employment benefits during the year or prior year. Clergy are not included in the staff costs above as they are office holders not employed by the PCC. In addition to employees, the cost of certain other service providers is included in Other honoraria and staff costs.
## **7 Payments to PCC members**
Ten (2024: three) trustees received expenses to the value, in total, of £24,228 (2024: £18,895) in respect of Church and Church Hall repairs, travel and other costs incurred or funds disbursed on behalf of the PCC.
## **8 Tangible fixed assets**
|**8 Tangible fixed assets**||||||
|---|---|---|---|---|---|
||||**Total land**|**Office &**||
|||**Residential**|**and**|**Garden**||
||**Church Hall**|**Property**|**buildings**|**Equipment**|**Total**|
||**£**|**£**|**£**|**£**|**£**|
|**Cost**||||||
|Opening cost|238,000|170,000|408,000|2,927|410,927|
|Additions|-|-|-|699|699|
|Disposals|-|-|-|-|-|
|Closingcost|238,000|170,000|408,000|3,626|411,626|
|Depreciation and impairments||||||
|Opening provisions|(42,840)|-|(42,840)|(2,267)|(45,107)|
|Charged in the year|(4,760)|-|(4,760)|(494)|(5,254)|
|Disposals|-|-|-|-|-|
|Closing provisions|(47,600)|-|(47,600)|(2,761)|(50,361)|
|||||||
|**Net book Value**|**190,400**|**170,000**|**360,400**|**865**|**361,265**|
The Church Hall is an operational asset, built on glebe land which is not the property of the PCC, adjoining the Church.
The residential property comprises a house in Quinton Road, Thames Ditton, KT7 0AX, the freehold of which was purchased for £170,000 in 1997. The prime purpose of owning this property is to provide accommodation for a curate or other assistant clergy; in periods when this is not required, an alternative use for property may be for it to be rented out. No professional valuation has been sought for this property but having researched the recent transaction prices of similar properties in the area, the PCC believe that the current market value to be in the region of £863,000 (2024: £910,000).
These fixed assets are part of the PCC’s unrestricted funds .
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## **Notes to the Financial Statements**
For the year ended 31 December 2025
## **9 Investments**
|**9 Investments**|||||
|---|---|---|---|---|
|||**2025**||2024|
||**_Units_**|**£**|_Units_|£|
|Opening market value|_15,170_|**350,772**|_15,170_|342,924|
|Purchases at cost|_-_|**-**|_-_|-|
|Disposals|_-_|**-**|_-_|-|
|Revaluation|_-_|**(14,023)**|_-_|7,848|
|Closingmarket value|_15,170_|**336,749**|_15,170_|350,772|
|Being:|||||
|CBF Church of England Investment Fund|||||
|Income Shares|_15,170_|**336,749**|_15,170_|350,772|
These investments are all vested in permanent endowment funds.
## **10 Debtors and prepayments**
|**10 Debtors and prepayments**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Gift aid tax recoverable|**4,444**|5,365|
|Prepayments|**2,666**|2,864|
|Legacy receivable|**-**|15,870|
|Accrued income and other debtors|**1,932**|2,346|
||**9,042**|26,445|
## **11 Cash flows**
|**11 Cash flows**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Net movement in funds: surplus/(deficit)|**60,126**|8,864|
|Depreciation charges|**5,254**|5,137|
|Movement in value of investments|**14,023**|(7,848)|
|Movement in receivables|**17,403**|(16,839)|
|Movementinpayables|**9,471**|1,268|
|Cash generated from/(used in) operations:|**106,277**|(9,418)|
|Cash flows from investing activities:|||
|Purchase of tangible fixed assets|**(699)**|-|
|Change in cash and cash equivalents in year|**105,578**|(9,418)|
|Cash and cash equivalents at beginningofyear|**84,403**|93,821|
|Cash and cash equivalents at end ofyear|**189,981**|84,403|
|**12 Creditors– amounts falling due within one year**|||
||**2025**|2024|
||**£**|£|
|Accruals and deferred income|**22,734**|12,490|
|Other creditors|**4,556**|5,329|
||**27,290**|17,819|
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## **Notes to the Financial Statements**
For the year ended 31 December 2025
## **13 Funds**
## **Restricted funds**
Restricted funds are funds which have been given to the PCC for a specific purpose and which are held pending disbursement in accordance with the mandate for which they were given:
||**Opening**|||**Adjustments**|**Closing**|
|---|---|---|---|---|---|
||**Balance**|**Income**|**Expenditure**|
**& Transfers**|**balance**|
||**£**|**£**|**£**|**£**|**£**|
|Stipend Augmentation|-|7,614|(7,614)|-|**-**|
|Churchyard/Grave Maintenance|-|750|(750)|-|**-**|
|St. Nicholas Endowment|-|1,383|(1,383)|-|**-**|
|Sunday school|-|239|(94)|-|**145**|
|Community funds†|3,298|4,670|(1,475)|(545)|**5,948**|
|Men-in-Sheds|-|3,060|(3,045)|545|**560**|
|Burundi Ordinand|18|-|-|-|**18**|
|Princess Alice Hospice|-|465|(465)|-|**-**|
|Friends of St. Nicholas|-|35|-|-|**35**|
|Church Lighting|500|-|-|-|**500**|
|Church Hall upkeep|-|-|-|-|**-**|
|Garden of Remembrance|-|37|(37)|-|**-**|
|Choir & Music|-|-|-|-|**-**|
|Bell ringing|248|78|(119)|-|**207**|
|Repair of Brasses|1,250|-|-|-|**1,250**|
|Remembrance book for Poppy||||||
|Appeal|153|-|-|-|**153**|
||5,467|**18,331**|**(14,982)**|**-**|**8,816**|
> † Community funds include St Nicholas Café, Foodbank and Hardship fund
## **Endowment funds**
Endowment funds are funds which have been specifically endowed for the benefit of the activities of the PCC who receive the income arising from the funds, but are not able to spend the capital invested:
The Stipend Augmentation Trust
The Stipend Augmentation Trust is a Permanent Endowment from which the income is to be applied to meeting the cost of Parish clergy stipends.
The Grave Maintenance Trust
The Grave Maintenance Trust is a Permanent Endowment from which the income is to be applied to meeting the cost of the maintenance of the Churchyard at St Nicholas.
## The Thames Ditton Endowment Trust
The Thames Ditton Endowment Trust is a Permanent Endowment from which the income is available to be applied to meeting general expenses of the Parish.
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## **Notes to the Financial Statements**
For the year ended 31 December 2025
## **13 Funds** _**(continued)**_
Endowment income and expenditure during the year was:
||**Opening**|
**Income**||**Endowment**|**Endowment**||**Gains and**|**Closing**|
|---|---|---|---|---|---|---|---|---|
||**Balance**|**retained**||**expenditure**||
**Transfers**|**losses**|**balance**|
||**£**|**£**||**£**||**£**|**£**|**£**|
|Stipend Augmentation|274,005|
7,614||(7,614)||-|(10,954)|**263,051**|
|Grave Maintenance|27,006|
750||(750)||-|(1,080)|**25,926**|
|ThamesDitton Endowment|49,761|
1,383||(1,383)||-|(1,989)|**47,772**|
||350,772|
9,747||(9,747)||-|(14,023)|**336,749**|
|**14 Prior year statement of financial activities**|||||||||
||**Unrestricted**||**Restricted**||**Endowment**||**Total**||
|||**Funds**||**Funds**||**Funds**|**2024**||
||Note|**£**||**£**||**£**|**£**||
|Income and Endowments|2||||||||
|Voluntary income||133,622||4,169||-|137,791||
|Activities for generating funds||-||5,384||-|5,384||
|Church activities||53,138||-||-|53,138||
|Income from investments||4,213||9,660||-|13,873||
|Other incomingresources||-||-||-|-||
|**Total income and**|||||||||
|**endowments**||190,973||19,213||-|210,186||
|Expenditure|3||||||||
|Cost of generating voluntary|||||||||
|income||93||607||-|700||
|Church activities||189,743||15,945||-|205,688||
|Costs of investment property||2,782||-||-|2,782||
|Governance costs||-||-||-|-||
|Totalexpenditure||192,618||16,552||-|209,170||
|Net incoming/(outgoing)|||||||||
|resources||(1,645)||2,661||-|1,016||
|Transfers between funds||-||-||-|-||
|Investmentgains/(losses)|9|-||-||7,848|7,848||
|**Net movement in funds**||(1,645)||2,661||7,848|8,864||
|Balances brought forward||455,027||2,806||342,924|800,757||
|Balances carried forward||453,382||5,467||350,772|809,621||
Page 17
St. Nicholas Church Thames Ditton
## **Notes to the Financial Statements**
For the year ended 31 December 2025
## **15 Prior year balance sheet**
|||**Unrestricted**|**Restricted**|**Endowment**|**Total**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**2024**|
||Note|**£**|**£**|**£**|**£**|
|Fixed Assets||||||
|Tangible fixed assets|8|365,820|-|-|365,820|
|Investments|9|-|-|350,772|350,772|
|||365,820|-|350,772|716,592|
|Current assets||||||
|Debtors and prepayments|10|26,445|-|-|26,445|
|Cash|11|84,403|-|-|84,403|
|||110,848|-|-|110,848|
|Current liabilities|12|(23,286)|5,467|-|(17,819)|
|Net current assets||87,562|5,467|-|93,029|
|||||||
|Net Assets||453,382|5,467|350,772|809,621|
|||||||
|Parish Funds||453,382|5,467|350,772|809,621|
## **16 Related party transactions**
Grants receivable arising during the year from connected charities, as referenced in note 1(c), amounted to £145 (2024: £10,000). The Vicar and Churchwardens of St Nicholas are, ex-officio, trustees of the requisite connected charities.
There were no transactions with any trustee in their capacity as trustee. Reimbursements for normal out of pocket expenses incurred in the performance of various duties as Clergy, or as members of a PCC committee, as the case may be, are set out in note 7 above.
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