Charity Number 1128707 ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PHILIP, MARGATE FOR THE YEAR ENDED 31 DECEMBER 2024 |**CONTENTS**|**Page**| |---|---| |Parochial Church Council’s report|2| |Notes to the Accounts|6| |Statement of Assets and Liabilities|7| |Independent Examiner’s report|8| |Financial Statements|9| THE REPORT OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PHILIP, MARGATE FOR THE YEAR ENDED 31 DECEMBER 2024 ## **Administrative information** St Philip’s Church is situated in the Palm Bay Estate, Margate. It is part of the Diocese of Canterbury within the Church of England. The correspondence address is: St Philip’s Church Summerfield Road Margate Kent CT9 3JJ Telephone 01843 231825 E Mail stphilipspalmbay@btconnect.com Web www.achurchnearyou.com/church/12060 Charity Commission registration number 1128707 ## **Officers and Professional Advisers** Members of the Parochial Church Council (PCC) are either ex-officio or elected by the Annual Parochial Church Meeting (APCM), in accordance with the Church Representation Rules. The PCC members are also the trustees. PCC members who have served from 1 January 2024 until the date of this report was approved are: Vicar Rev. S. Gay Lay Reader Miss H. Rogers Wardens Mr D. Amor (Treasurer) Secretary Rev. S. Gay Elected Members Mrs D. Tully Miss S. Woolley Mr A. Leal Mrs L. Oakley Standing Committee Rev S. Gay, Mr D. Amor, Miss H. Rogers Independent Examiner Mr Adrian Tasker 10 Chartwell Grove Sittingbourne ME10 1XD Bankers Lloyds TSB Bank plc (closed November 2014) Charities Aid Foundation Bank HSBC Bank 2 ## **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. The PCC is governed by two Church of England Measures: the “Parochial Church Council (Powers) Measure 1956 as amended” and the “Church Representation Rules (contained in Schedule 3 to the Synodical Government) Measure 1969 as amended.” ## **Statement of the PCC’s Responsibilities** The PCC is responsible for all parish finances, its management and control, including the appointment of a treasurer. Charity law requires the PCC, as trustees of the church, to prepare an annual report and financial statements that give a true and fair view of the church’s financial activities during the year and of its financial position at the end of the year. The PCC is also required to ensure that these are subjected to an annual independent examination and to present these to the APCM in accordance with the Church Representation Rules. - The PCC is responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the church and to enable it to ensure that the financial statements comply with the Charities Act 1993. - The PCC is also responsible for safeguarding the assets of the church (other than the fabric and ornaments of the church for which the churchwardens have particular responsibility), and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - The members of the PCC confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the PCC’s aims and objectives and in planning future activities. - PCC members were not reimbursed any travelling and subsistence allowance during the year. ## **Objectives and activities** St Philip’s PCC has the responsibility of co-operating with the incumbent, the Revd Stuart Gay, in promoting the mission of the Church in the parish. It also has maintenance responsibilities for St Philip’s Church. Our aim is to bring people to a knowledge and love of God through Jesus Christ, by proclaiming the Gospel in the parish of St. Philip, Margate, and beyond. We aim to do this by following the commandment of Jesus to go and make disciples of all nations, baptising them in the name of the Father and of the Son and of the Holy Spirit, and teaching them to obey everything that Jesus has commanded. 3 ## **Achievements and Performance** Worship and Prayer We conduct weekly worship services and prayer meetings designed to include people from all walks of life. Numbers are consistent but have been boosted by a weekly ‘Junior Church.’ We have engaged with Diocesan initiatives on prayer and finance. ## **Pastoral Care** Our small groups undertake to exercise pastoral care for their group members ## **Mission and Evangelism** We run a number of activities that are welcoming to all-comers as a potential ‘way in’ to the worshipping life of the church. We are committed to working with other churches in Thanet. ## **Church attendance** The electoral roll is currently 61 (2023: 65). Sunday attendance fluctuates between around 50-70 adults and 10-20 children. ## **Reserves policy** It is the PCC policy to maintain a balance on unrestricted funds, if possible, of £20,000 to cover any emergency repairs. This level would allow a period of time for an appeal for funds from the congregation and for the PCC to consider alternative financial strategies. Following the closure of our Lloyds Account this reserve will be held separately in another CAF savings account early in 2025 ## **Risk Management** The PCC has considered and discussed the key risks facing the church, the controls in place to mitigate them and any action required. The PCC continues to review and develop the strategic direction of the church and considers how its exposure to risk changes as a result. We have accepted the Diocesan and Ecclesiastical (EIG) recommendations to use the Smart Water system on our roof and other high value items. We have reviewed our Insurance levels, and consider them to be appropriate ## **Safeguarding** The PCC takes the safeguarding of children and vulnerable adults seriously and adheres to National Church policy and guidance for best practice. 4 ## **Financial review** The accounts for 2024 have been prepared on a receipts and payments basis as recommended for the level of income generated at St Philip’s. This has been another fairly quiet year from a financial point of view. I am pleased to report that our regular hirers continue to use the building providing a welcome source of income. The Quinquennial review due during 2020 has now taken place and the required works have either been dealt with or are in hand at the time of writing this report. Upgrading the electrical circuits was the costliest of the recommendations. Regrettably we remain unable to pay, in full, the requested Parish Share. During 2024 we were able to contribute £49,404 towards the requested sum of £75,698. This mirrors previous years in which we have paid around two thirds of the requested sum. Hence the deficit continues to grow, as we remain unable to meet, in full, the requested share for 2025. In terms of our payments, we send to Canterbury the funds we receive from our regular donations, using the Income Tax refunded and our income from hiring the building to fund our day to day running expenses. I am pleased to report that the Parish Giving Scheme (PGS) which replaced the Standing Orders with Direct Debit payments has led to an increase in our regular income over its first year. Currently there are 34 members of this scheme, and 20 have signed up for the inflationary increases at this present time. Like all voluntary donations this could change at any time and we remain mindful of the generosity shown by our church family. I am pleased to confirm that this system, (PGS) has saved the treasurer, a significant amount of work as Gift Aid donations are automatically claimed through the same system and it has significantly reduced the number of transactions the treasurer has had to record. Our Bank statements from CAF which used to be six or seven long pages are now two. There are still a few people who donate via the old system, a deliberate choice for some and those who no longer attend the church but still donate were not included in the scheme. We were fortunate to receive two legacies during the year, one of these coming with an expressed wish that the funds be used to maintain and look after the building. These have contributed to a rather healthy-looking balance and should secure the upkeep of the premises for many years to come. The PCC decided to close our account at Lloyds Bank as it was being used as our reserve account. Although it did not pay any interest there were two historic standing orders being paid into it and there were no charges for using it. However, those two donations ceased during 2024 and the PCC decided to open a deposit account with CAF on which interest will be earnt. I can confirm that this has happened and the process of transferring funds into this account is ongoing and will be reflected in next year’s accounts. 6 ## **Accounting Policies** The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis. These accounts include all transactions and liabilities for which the PCC is responsible in law. ## **General Fund** Represents the funds of the PCC that are not subject to any restrictions regarding their use. ## **Restricted and Designated Funds (R & D in the accounts)** Restricted funds are those where the donor has requested their donation be used for a specific purpose. For example, setting money aside for evangelism or other activities connected with the church. At present there is one restricted Fund, a very generous legacy left for St Philips to meet the costs of caring for the build and its upkeep. Designated Funds are those where the PCC has decided to set aside monies for specific projects or items. Currently, there is one fund that is designated by the PCC for specific purposes. This is the Reserves Fund, which represents an amount set aside specifically to help meet the costs of emergencies or special projects. At the time of preparing this report not all funds had been moved from our current accounts to our deposit accounts. 7 ## STATEMENT OF ASSETS ## 31 DECEMBER 2024 CASH FUNDS AT 31 December 2024 |Lloyds TSB
Current Acc
CAF Bank
Current Acc
HSBC Bank
Current Acc
CAF Bank
Deposit Acc
CAF Bank
Emergency
TOTALS|Unrestricted
R & D
Total 2024
Total 2023
0
0
0
22320
32689
57345
90034
46853
3
5000
6
1788
96788
10286
0
10000
10000
0
0
0| |---|---| ||67689
129133
196822
79459| In November 2024 the Lloyds Account was closed and the funds transferred to CAF current. At 31 December the 22345 had not been transferred from the CAF current to the CAF Emergency. As at 31 December the 61788 remains to be transferred from R&D at HSBC to the CAF Deposit R&D Approved by the PCC on 2024 and signed on their behalf by Reverend Stuart Gay (PCC Chairman) 8 David Amor (PCC Treasurer) ## INDEPENDENT EXAMINER’S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PHILIP, MARGATE This report on the financial statements of the PCC for the year ended 31 December 2024, which are set out on pages 7 to 12, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 (“the regulations”) and s.43 of the Charities Act 1993 ("the Act"). ## **Respective responsibilities of the PCC and examiner** As the members of the PCC, you are responsible for the preparation of the financial statements; you consider that the audit requirement of the Regulations and s43 (2) of the Act does not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Regulations. ## **Basis of this report** My examination was carried out in accordance with the General Directions given by the Charity Commission under section 43(7) (b) of the Act and to be found in the Church guidance, 2006 edition. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, I do not express an audit opinion on the view given by the accounts. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with section 41 of the - (1) (a) Act; and - (b) to prepare financial statements which accord with the accounting records and comply with the requirements of the Act, and the Regulations have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding ## **Adrian Tasker** Dat e: 10 Chartwell Grove Sittingbourne 10 Kent MEIO IXD li ## ST PHILIP’S NORTHDOWN PARK MARGATE ## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |||Unrestricted|Designated|Total 2024|Total 2023| |---|---|---|---|---|---| |**RECEIPT**|||||| |**S**|||||| |Planned Giving|note1|48908|0|48908|47636| |Other Voluntary Receipts|note2|13551|107478|121029|4273| |Church Actvites|note3|17893|0|17893|12557| |Mission|note4|265|0|265|170| |Income Tax Recovered||10834|0|10834|10784| |Interest||111|0|111|74| |**TOTAL INCOME**||**91562**|**107478**|**199040**|**75494**| |**EXPENDITURE**|||||| |Church Actvites|note 5|2376|0|2376|2117| |Church Running Costs|note 6|17580|0|17580|14918| |Church Building Costs|note 7|1060|6614|7674|4155| |Church Administraton|note 8|2551|0|2551|1823| |Ministry|note 9|1340|0|1340|756| |Mission|note 10|1218|0|1218|944| |Parish Share||49404|0|49404|43560| |**TOTAL EXPENDITURE**||**75529**|**6614**|**82143**|**68273**| |SUMMARY|||||| |**INCOME**||**91562**|**107478**|**199040**|**75494**| |**EXPENDITURE**||**75529**|**6614**|**82143**|**68273**| |**SURPLUS/DEFICIT**||**16033**|**100864**|**116897**|**7221**| 12 ## ST PHILIP’S NORTHDOWN PARK MARGATE ## NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31 DECEMBER 2024 ||Unrestricted|Designated|Total 2024|Total 2023| |---|---|---|---|---| |Note1||||| |**Planned Giving**||||| |Don PGS|46411|0|46411|34453| |Don SO|2497|0|2497|13183| |**TOTAL**|**48908**|**0**|**48908**|**47636**| |Note2||||| |**Voluntary Reciepts**||||| |Service Collectons|4271|0|4271|2703| |Donatons|4380|0|4380|1055| |Legacies|4720|107478|112198|| |Donatons Card M|180|0|180|| |Other|0|0|0|515| |**TOTAL**|**13551**|**107478**|**121029**|4273| |Note3||||| |**Church Actvites**||||| |Rent|14049|0|14049|10147| |Service |Fees|1109|0|1109|0| |Photocopying/advertsing|0|0|0|34| |Holiday Clubs|2415|0|2415|1362| |Childrens|0|0|0|0| |Kitchen|110|0|110|110| |Alpha|0|0|0|0| |Events|210|0|210|0| |Other||||904| |**TOTAL**|**17893**|**0**|**17893**|**12557**| |Note4||||| |**Mission**||||| |Childrens Society|265|0|265|15| |Overseas Mission|0|0|0|145| |Home Mission|0|0|0|10| |**TOTAL**|**265**|**265**|**265**|170| 13 |||Unrestricte|||Total| |---|---|---|---|---|---| |||d|Designated|Total 2024|2023| |**CHURCH**|||||| |**ACTIVITIES**|Note 5||||| |Holiday Clubs||2104|0|2104|1732| |Brightnight||98|0|98|0| |Childrens Resources||174|0|174|385| |Alpha||0|0|0|0| |**TOTAL**||**2376**|**0**|**2376**|2117| |**CHURCH RUNNING COSTS**|Note 6||||| |TV Licence||169|0|169|159| |Water rates||522|0|522|516| |Insuranc|||||| |e||2058|0|2058|1986| |Electricit|||||| |y||6919|0|6919|4919| |||0|0|0|0| |Cleaning||424|0|424|1075| |Caretakers salary||7488|0|7488|6235| |Kitchen Supplies||0|0|0|28| |**TOTAL**||**17580**|**0**|**17580**|14918| |**CHURCH BUILDING COSTS**|Note 7||||| |Equipment||0|0|0|2372| |**Designated Building & Equipment**||0|6614|6614|| |Servicing||650|0|650|1391| |Gardening||410|0|410|390| |**TOTAL BUILDING COSTS**||**1060**|**6614**|**7674**|4155| |**CHURCH ADMINISTRATION**|Note 8||||| |Photocopying||694|0|694|445| |Telephone/Broadband||1195|0|1195|1085| |Admin||329|0|329|114| |Bank Charges||333||333|164| |Postage||0|0|0|15| |**TOTAL ADMINISTATION**||**2551**|**0**|**2551**|**1823**| |**MINISTRY**|Note 9||||| |Music/copyright||645|0|645|613| |Service costs||521|0|521|89| |Youth Resources||174|0|174|0| |Adult Resources||0|0|0|54| |Events||0|0|0|0| 14 |**TOTAL MINISTRY**||**1340**|**0**|**1340**|**756**| |---|---|---|---|---|---| |**MISSION**|Note 10||||| |Overseas Mission||308|0|308|390| |Home Mission||910|0|910|88| |Childrens Soc||0|0|0|320| |Warm Sp||0|0|0|146| |**TOTAL MISSION**||**1218**|**0**|**1218**|**944**| |R&D Fund Balances 2024|||| |---|---|---|---| ||Repairs||Emergencies| |Cash B/Fwd|3242||22345| |Income|107478||0| |Expenditure|6614||0| |Carried F/wd||104106|22345| 15