THE PARISH OF SAINTS PETER & PAUL FAREHAM, HAMPSHIRE
Registered Charity No. 1128765
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE PAROCHIAL CHURCH COUNCIL OF ST PETER AND ST PAUL FAREHAM
INDEPENDENT EXAMINER'S REPORT
TO THE PAROCHIAL CHURCH COUNCIL OF ST PETER AND ST PAUL, FAREHAM
I report on the accounts of the Parochial Church Council for the year ended 31 December 2024 which are set out on pages 5 to 19.
Respective responsibilities of the Parochial Church Council and examiner
The members of the Parochial Church Council are responsible for the preparation of the financial statements. You consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) or the Church Accounting Regulations 2006 (the Regulations) and that an independent examination is needed.
It is my responsibility to:
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(i) examine the accounts under the Regulations and section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145(5)(b) of the Act and to be found in Church of England guidance. That examination includes a review of the accounting records kept by the Parochial Church Council and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts 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 no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respects the requirements:
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(i) to keep accounting records in accordance with section 130 of the 2011 Act: and
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(ii) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act and the Regulations
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have not been met: or
(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs Samantha Diment
255A White Hart Lane, Portchester PO16 9AS
Dated: 3 July 2025
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THE PARISH CHURCH OF ST PETER AND ST PAUL, FAREHAM ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024
Information
The Church of St Peter and St Paul is situated adjacent to the Civic offices, Medical & Social Services, the new Arts Venue and the main shopping precinct close to the heart of the Town Centre. It is part of the Diocese of Portsmouth within the Church of England.
The correspondence address is Osborn Road, Fareham Hampshire PO16 7DR
Objectives, Activities & Safeguarding
Ss Peter & Paul Parochial Church Council (the PCC) has the responsibility of co-operating with the Parish Priest in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelical and ecumenical. Since the retirement of Fr Roger Jackson in October 2023 the parish has been without a parish priest and has relied on the help of priests throughout the Diocese to conduct services. All guidance and rules of the Diocesan Safeguarding Policy are rigidly observed.
Ss Peter & Paul PCC also has maintenance responsibilities for the Listed Parish Church of Ss Peter & Paul, The Churchyard, closed by Order of Council, is maintained by the local authority on behalf of the PCC.
The PCC is committed to enabling as many people as possible to worship at Ss Peter and Paul, and to become part of the on going community of faith.
The PCC have considered the Commisssion’s guidance on public benefit and in particular, the specific guidance for charities for the advancement of religion. A key focus is to enable people to live out their faith as part of our parish community, especially through:
Worship, the celebration of the Sacraments and Prayer, Biblical knowledge and teaching. Empowering and seeking to disciple the families and children of our Parish and beyond. Provision of life events celebrations and pastoral care for people living in the parish and beyond.
Worship and prayer
There is a regular 9.30 a.m. Sunday Service and 10.30 Service on the 1st Wednesday of the month. All services are reliant on the availability of priests.
Families and Children
There is a close connection and sensitive relationship with staff and residents at the nearby sheltered housing and the families at the House are supported in practical ways and encouraged to attend family focused church services.
Life Events & Pastoral Care
The Parish was delighted to present 3 adults and young people for confirmation and 3 infant and 1 adult baptism took place. Over the past year some of our faithful members of our church family have died, Patricia Richards, Margaret Warren
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Anna Chaplaincy
Canon Margaret Chappell continues the Anna Chaplaincy work which is now well established in the parish. Services , Messy Vintage and individual visits are regularly taken in seven local Residential Care Homes reaching approximately 75 people per month. Community visits are also made and Christmas and Easter gifts taken. Home Communion is taken regularly to former members of our congregation who are too fragile to continue regular attendance and we are grateful to the Priests who assist us with this ministry.
Mission and Outreach
There have been retiring collections for emergency appeals and for Christian Aid, and Mission to Seafarers etc.
Volunteers
The PCC would like to thank all who contribute so generously in time and giving to make our church a community enabling the continued work of the church in this place.
The future
Structure, Governance and Management
A decision was been made that a Plant from St John’s Fareham would be made into the congregation of St Peter & St Paul, and that modification and significant changes would take place within the church building. A grant would be secured to finance these changes. Very little information has been forthcoming over this year. A new priest has been appointed to St John’s to oversee the Plant and as soon as possible another Plant Priest will be appointed, firstly to serve six months at St John’s and then work in the Parish of St Peter & St Paul. It is anticipated that the Lady Chapel will be set aside and that traditional services will take place every Sunday, with times to be arranged.
Perhaps one of the most significant changes that has occurred this past year is the decision to reverse the resolution accepting women Priests to celebrate at the Altar. This decision was taken following a period of discussion and consultation as required. The PCC are mindful that this has added to the distress already felt by some members of the congregation which is regrettable. Our congregation continue to feel both anxious and bewildered regarding the future as there have been few updates, the uncertainty has generated anger and adversely affected the status quo of our church family most notably amongst the fragile.
The PCC have been both co-operative and responsive to all communications and requests from the Diocesan Senior Staff and have regularly invited them to celebrate for us, invitations have also been extended to the Priest from St John’s who will be having overall responsibility for the church plant. We would also like it noted that securing regular weekly services has been challenging in finding Priests able to support us and we are especially appreciative of the support from St Mary’s church, Portchester for sharing their clergy and also to our Archdeacon.
The Parochial Church Council (PCC)
The PCC is a corporate body established by the Church of England. It operates under the Parochial Church Council Powers Measure. The PCC is a registered Charity.
The method of appointment of PCC members is set out in the Church Representative Rules. At Ss Peter & St Paul’s, Fareham, the membership of the PCC consists of the Parish Priest, churchwardens, two deanery synod representatives as ex officio members, plus member elected by those who are on the Church electoral Roll. All those who attend our services or live in the parish are encouraged to register on the roll and stand for election to the PCC.
3
The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including how the funds of the PCC are spent. Over 9 meetings have taken place this year.
The leasing of the Hall has been discontinued at a considerable financial loss to the Parish income. The house owned by the parish at Knowle Village continues to give a stream of revenue.
In summary we must acknowledge that this has been a challenging year characterised by uncertainty, loss of trust and anxiety. We are detached from the decision making process that will substantially affect the continuation of our style of worship, most notably is the lack of pastoral care which is felt deeply especially at times of tribulation.
Reference and administrative details
The Parochial Church Council (PCC) is a charity registered with the Charity Commissioners as “The Parochial Church Council of the Ecclesiastical Parish of St Peter & St Paul, Fareham” with charity number 128765
Bankers: Lloyds Bank PLC
Independent Examiner: Samantha Diment. 255a White Hart Lane, Portchester, PO16 9AS
Membership of the Parochial Church Council
Members of the PCC are either ex-officio or elected by the Annual Meeting to elect Churchwardens and the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. During the year, the following served as members of the PCC:
Members ex-officio: Canon Margaret Chappell (Churchwarden & Vice-Chair);
Elected members: Anne Butcher (PCC Secretary), Nick Millett, Pam Bryant, Margaret Stubbs, Anthony Green.
No member of the PCC is reimbursed for any expenses incurred for serving on the Council.
Nominations for membership are invited from the congregation prior to the APCM.
4
Financial Review
The expenditure and income in the years 2023 and 2024 for all funds can be summarised as follows:-
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| INCOME | |||
| Income (excluding investment income) | 152,588 | 40,408 | |
| Investment income | 16,745 | 10,875 | |
| TOTAL INCOME | 169,333 | 51,283 | |
| EXPENDITURE | |||
| "Fairer Share" payment to Diocese | 42,424 | 40,404 | |
| Other Expenditure | 34,886 | 20,027 | |
| TOTAL EXPENDITURE | 77,310 | 60,431 | |
| UNRESTRICTED DEFICIT FOR YEAR | 92,023 | (9,148) | |
| DESIGNATED FUNDS SURPLUS FOR YEAR | 1,187 | 1,767 | |
| RESTRICTED SURPLUS FOR YEAR | 8,113 | 11,819 | |
| TOTAL SURPLUS FOR YEAR | 101,323 | 4,438 | |
| Increase (decrease) in valuation of investments | 13,586 | 15,888 | |
| TOTAL INCREASE IN FUNDS FOR YEAR | 114,909 | 20,326 |
In most previous years, routine expenditure exceeded routine income, with the 2024 year benefitting from a legacy of £139,456, thus avoiding an unrestricted deficit of £47,433.
Reserves Policy
It is PCC policy to maintain a balance on unrestricted funds of £30,000 to cover emergency situations that may arise from time to time. As at 31 December 2024 the balance stood at £299,000.
5
Statement of Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts 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 year. In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP;
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make judgements and estimates that are reasonable and prudent
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the governing document of the Charity.
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.
Approved by Parochial Church Council
Date:
Chairman: ----------------------------------------------
PCC member ____
6
Statement of Financial Activities for the year ended 31 December 2024
| Unrestricted Designated Restricted Endowment Total Prior year funds funds funds funds funds total funds |
|
|---|---|
| Income and endowments from: Donations and legacies Income from charitable activities Investments Other income Total income Expenditure on: Expenditure on charitable activities: Charitable Giving Education Ministry Running Costs Office Costs Gratuities Non-routine Maintenance Other Total expenditure Net income / (expenditure) resources before transfer Other recognised gains / losses Gains / (losses) on investment assets Net movement in funds Total funds brought forward Total funds carried forward |
£ £ £ £ £ £ 146,965 — 180 — 147,145 24,468 5,623 — — — 5,623 16,150 16,745 2,521 309 12,825 32,400 28,132 0 634 0 — 634 638 |
| 169,333 3,154 489 12,825 185,802 69,388 155 1,967 0 — 2,122 1,184 - — 625 — 625 906 42,710 — 0 — 42,710 41,997 18,387 — — 4,576 22,963 10,421 935 — — — 935 792 2,552 — — — 2,552 2,552 12,428 — — — 12,428 6,311 143 — — — 143 786 |
|
| 77,310 1,967 625 4,576 84,479 64,950 |
|
| 92,023 1,187 (136) 8,248 101,323 4,438 3,088 2,108 259 8,132 13,586 15,888 |
|
| 95,111 3,295 123 16,380 114,909 20,326 |
|
| 204,719 139,761 17,157 539,185 900,822 880,496 |
|
| 299,830 143,056 17,280 555,565 1,015,731 900,822 |
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Balance Sheet as at 31 December 2024
| Balance Sheet as at 31 December 2024 | |
|---|---|
| Total funds Prioryear funds |
|
| Fixed assets Investments [Note 3] Current assets Debtors [Note 4] Cash at bank and In hand [Note 1] Liabilities Creditors: Amounts falling due in one year [Note 5] Net current assets less current liabilities Total assets less current liabilities Total net assets less liabilities Represented by [Notes 7 and 8] Unrestricted General fund Designated Fabric Designated Fund Restricted Kitchen improvements Prices Trust Memorial Fund Endowment Funds of the church |
£ £ 642,831 629,245 |
| 642,831 629,245 3,539 2,706 402,421 271,255 |
|
| 405,960 273,961 33,060 2,384 |
|
| 33,060 2,384 |
|
| 372,900 271,577 |
|
| 1,015,731 900,822 |
|
| 1,015,731 900,822 299,830 204,719 143,056 139,761 264 264 11,540 11,417 5,476 5,476 555,565 539,185 |
|
| 1,015,731 900,822 |
Approved by Parochial Church Council
Date:
| Chairman: | ---------------------------------------------- |
|---|---|
| PCC member | ____ |
8
Statement of Cash Flows for the year ended 31 December 2024
| Cash flows from operating activities Net cash provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and Cash equivalents at the beginning of the reporting period Cash and Cash equivalents at the end of the reporting period |
2024 2023 96,765 (29,872) |
|---|---|
| 34,401 34,221 34,401 34,221 |
|
| 131,166 4,349 271,255 266,906 |
|
| 402,421 271,255 |
|
| Notes:- Reconciliation of net movement in funds to net cash flows from operating activities Net movement in funds for the reporting periods (as per the statement of financial activities) Adjustments for: (Gains)/losses on investments Dividends, interest and rents from investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activities Analysis of cash and cash equivalents Cash in hand and in bank/CBF Deposit Account Total cash and cash equivalents |
114,909 20,326 |
| (13,586) (15,888) (34,401) (34,221) (833) 353 30,676 (442) |
|
| (18,144) (50,198) |
|
| 96,765 (29,872) 402,421 271,255 |
|
| 402,421 271,255 |
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Income to December 2024
| Donations and legacies Stewardship Giving Gift Aid - Tax recoverable Collections (Open Plate) Fr. Roger Jackson retirement Legacy Donations (general) Grants - Prices Trust Total Income from charitable activities Donations for use PCC Fees Total |
Total Unrestricted Designated Restricted Endowment ThisyearLastyear |
|---|---|
| £ £ £ £ £ £ 5,491 - - - 5,491 15,846 - - - - 0 4,309 1,676 - - - 1,676 1,616 - - - - 0 650 139,456 - - - 139,456 0 343 - - - 343 1,837 - - 180 - 180 210 |
|
| 146,965 0 180 0 147,145 24,468 Total Unrestricted Designated Restricted Endowment This yearLastyear |
|
| £ £ £ £ £ £ 3,750 - - - 3,750 15,000 1,873 - - - 1,873 1,102 |
|
| 5,623 0 0 0 5,623 16,102 |
Investments
| Investments | |
|---|---|
| CBF Investment Fund CBF Property Fund Lloyds Bank Interest CBF Deposit Bank Interest Diocesan CBF Deposits Rental Property Total |
Total Unrestricted Designated Restricted Endowment ThisyearLastyear |
| £ £ £ £ £ £ 2,060 1,407 173 - 3,640 3,584 978 668 82 - 1,728 1,702 670 - - - 670 98 653 446 55 - 1,154 803 12,383 - - - 12,383 7,245 - - - 12,825 12,825 14,700 |
|
| 16,745 2,521 309 12,825 32,400 28,132 |
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Other Income
| Other Income | |
|---|---|
| Friends of the Homeless Clayton Farm Community Heartbeat Christian Aid Mission to Seafarers Remote Streaming Floodlighting Southern Domestic Abuse INCOME TOTAL |
Total Unrestricted Designated Restricted Endowment ThisyearLastyear |
| £ £ £ £ £ £ - 55 - - 55 0 - 155 - - 155 0 - 93 - - 93 0 - - - - 0 70 - - - - 0 92 - - - - 0 306 - 170 - - 170 170 - 160 - - 160 0 |
|
| 0 634 0 0 634 638 |
|
| 169,333 3,154 489 12,825 185,802 69,340 |
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Expenditure to December 2024 Expenditure on charitable activities Charitable Giving
| Expenditure to December 2024 Expenditure on charitable activities |
|
|---|---|
| Charitable Giving Forward in Faith Friends of the Homeless Christians Together in Fareham Christian Aid Mission to Seafarers Refund of Remote Streaming donations Southern Domestic Abuse Community Heartbeat Total Expenditure on charitable activities Education Children’s items Activities Total Expenditure on charitable activities Ministry Parish Share Vicarage working expenses Vicarage telephone Vicarage water rates Copyright Licence Total |
Total Unrestricted Designated Restricted Endowment This year Last year |
| £ £ £ £ £ £ 60 - - - 60 60 - 55 - 55 0 95 - - - 95 0 - - - - 0 70 - - - - 0 92 - - - - 0 800 - 1,750 - - 1,750 0 - 162 - 162 162 |
|
| 155 1,967 0 0 2,122 1,184 Total Unrestricted Designated Restricted Endowment This year Last year |
|
| £ £ £ £ £ £ - - 337 - 337 319 - - 288 - 288 587 |
|
| 0 0 625 0 625 906 Total Unrestricted Designated Restricted Endowment This year Last year |
|
| £ £ £ £ £ £ 42,424 - - - 42,424 40,404 - - - - 0 215 - - - - 0 521 - - - - 0 585 286 - - - 286 271 |
|
| 42,710 0 0 0 42,710 41,997 |
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Expenditure on charitable activities Running Costs
| Expenditure on charitable activities | |
|---|---|
| Running Costs Church Utilities Church Insurances Church Organ Tuning & Maintenance Church Maintenance Hall Maintenance & Legal Fees Rental Property Agents & Legal Fees Rental Property Maintenance Sacristy |
Total Unrestricted Designated Restricted Endowment This year Last year |
| £ £ £ £ £ £ 5,425 - - - 5,425 3,208 3,787 - - - 3,787 3,716 228 - - - 228 207 3,611 - - - 3,611 466 4,920 - - - 4,920 0 - - 3,787 3,787 1,470 - - 789 789 1,075 417 - - - 417 280 |
|
| 18,387 0 0 4,576 22,963 10,421 |
Expenditure on charitable activities Office Costs
| Expenditure on charitable activities |
|
|---|---|
| Office Costs Telephone Office Miscellaneous Total Expenditure on charitable activities Gratuities Gratuity-Administrator Gratuity - Organist Total |
Total Unrestricted Designated Restricted Endowment This year Last year |
| £ £ £ £ £ £ 872 - - - 872 872 64 - - - 64 64 |
|
| 935 0 0 0 935 935 Total Unrestricted Designated Restricted Endowment This year Last year |
|
| £ £ £ £ £ £ 1,632 - - - 1,632 1,632 920 - - - 920 920 |
|
| 2,552 0 0 0 2,552 2,552 |
| Expenditure on charitable activities Non-routine maintenance Church - non-routine maintenance Hall - non-routine maintenance Total |
Total Unrestricted Designated Restricted Endowment This year Last year |
|---|---|
| £ £ £ £ £ £ 12,428 - - - 12,428 6,263 - - - - 0 48 |
|
| 12,428 0 12,428 6,311 |
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Expenditure on charitable activities
| Expenditure on charitable activities | |
|---|---|
| Other Fr. Roger Jackson retirement Bank Charges Total EXPENDITURE TOTAL TOTAL SURPLUS / (DEFICIT) |
Total Unrestricted Designated Restricted Endowment This year Last year |
| £ £ £ £ £ £ - - - - 0 650 143 - - - 143 136 |
|
| 143 143 786 |
|
| 77,310 1,967 625 4,576 84,479 65,093 |
|
| 92,023 1,187 -136 8,248 101,323 4,247 |
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Notes to the Financial Statements for the year ended 31 December 2024
1. Accounting Policies
The financial statements have been prepared in accordance with the Charities Act 2011, the associated Church Accounting Regulations 2006, applicable accounting standards and the Statement of Recommended Practice for Accounting and Reporting by Charities with applicable accounting standard FRS 102. The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.
Funds
General funds represent the funds of the PCC that are not subject to any restriction regarding their use and are available to be used for PCC ordinary purposes. Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds can only be used for the purposes specified. Incoming resources from endowment funds are restricted.
The accounts include 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, informal gatherings of church members or the costs and income related to Diocesan Fees which are dealt with through the PCC bank account.
Incoming Resources
Voluntary income and capital sources
-
Collections are recognised when received by or on behalf of the PCC
-
Planned giving receivable under Gift Aid is recognised only when received
-
Income Tax recoverable on Gift Aid donations is recognised when the incoming resources to which the recovery relates are received
-
Grants and legacies to the PCC are recognised when there is evidence of entitlement, receipt is probable and its amount can be measured reliably
-
Income from all fund raising events is accounted for gross
Other income
- Dividend and interest entitlements are accounted for when they are due/accrue and any income tax recoverable is recognized in the same accounting year
Gains and losses on investments
- Realized gains or losses are recognized when investments are sold. Unrealized gains or losses are accounted for on revaluation of investments at mid-market value on 31 December
Resources expended
Grants, donations and invoices
- Grants and donations are accounted for when paid over, or when awarded if that award creates a binding or constructive obligation on the PCC. All other expenditure is generally recognised when it is incurred
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Parish Share
- The Parish Share ("Fairer Share") is accounted for when payable
Value Added Tax
- Value Added Tax is included in the cost of items reported in the statement of financial activities
Fixed Assets
Consecrated property & moveable church furnishings
-
Consecrated and beneficed property of any kind is excluded from the accounts by section 10(2)(a) 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 accounted as Heritage Assets unless consecrated. They are listed in the church's inventory which can be inspected at any reasonable time. For Heritage assets acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life on a straight line basis
-
No depreciation is provided on freehold land and buildings as the Net Realizable Value is such that depreciation would be immaterial to the accounts
-
All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £5,000 or on the repair of movable church furnishings acquired before 1 January 2000 is written off
Other fixtures, fittings and office equipment
- Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of £5,000 or less are written off when acquired
Investments
- Investments are valued at mid-market value at 31 December
Current Assets
Amounts owing to the PCC at 31 December 2024 in respect of fees, rents or other income are shown as debtors less any necessary provision for amounts that may prove uncollectable.
Cash at bank and cash equivalents at 31 December 2024 is shown as follows:
| Lloyds Bank PLC Current Account Lloyds Bank PLC Deposit Account CBF Church of England Deposit Account Held by Diocesan Board of Finance TOTAL |
2024 2023 £ £ 6,756 4,164 122,801 13,131 27,191 20,669 245,673 233,291 |
|---|---|
| 402,421 271,255 |
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2. Payments to PCC and employees and related party transactions
Payments to PCC members
Mrs Anne Butcher received a gratuity of £1,632 in her capacity of Administrator
The PCC has no employees
Related Party Transactions
Mrs Margaret Chappell and Mrs Anne Butcher (co-opted) sit on the Board of Trustees for the William Price Charitable Trust. The Trust provides grants to the PCC, amongst other organizations, for the education of the under 25’s in furthering their Christian upbringing. During the year the PCC received £180 (£210 in 2023) from the Trust.
3. Fixed Assets for us by the PCC
Investment Assets
A property in Knowle Village was purchased in 2020 a cost of £270,011 is held as an investment asset to generate rental income. As rental income and sale proceeds are restricted to use on maintenance of the fabric of the church, these funds are included in restricted balances and are shown as investments to emphasise the intended use of funds.
| Investment Property CBF Investment Fund (General) CBF Property Fund (General) Diocesan Board of Finance: Endowment property proceeds |
31-Dec-23 Gain/Loss 31-Dec-24 270,011 270,011 131,111 3,001 134,112 32,033 177 32,210 196,090 10,408 206,498 |
|
| 629,245 13,586 642,831 |
||
| Net Assets by Fund: Investments Current Assets Current Liabilities |
TOTAL | Unrestricted Restricted Endowment Total Funds Funds Funds £ £ £ £ 127,619 10,202 505,010 642,831 348,327 7,078 50,555 405,960 (33,060) - (33,060) |
| 442,886 17,280 555,565 1,015,731 |
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4. Debtors
| 4. Debtors | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Gift Aid Recoverable | 0 | 1,720 |
| Other Debtors | 3,539 | 986 |
| 3,539 | 2,706 | |
5. Creditors
| 5. Creditors | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Accruals of Utility costs | 200 | 942 |
| Diocesan Parish Share due | 31,818 | 0 |
| Creditors for Goods and Services | 1,042 | 1,442 |
| 33,060 | 2,384 | |
6. Year End Commitments
There are no significant commitments not recognised in the accounts.
7. Fund Details
The following funds are operated:
Designated Fabric Fund
Maintenance and improvement schemes for church buildings
Restricted
Memorial Fund
Prices Trust
Subscribed to by those associated with those named in the Memorial Book and used for the beautification of the church
Funds from the William Price Charitable Trust for the education of members of the congregation under the age of 25 years
Kitchen Fund
To fund improvements to the kitchen in the Church Hall
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| 8 ANALYSIS OF FUNDS: Balance Income Outgoings Gains and losses brought Unrestricted forward £ £ £ £ General 204,719 169,333 (77,310) 3,088 204,719 169,333 (77,310) 3,088 Designated Fabric (incl HW legacy) 139,761 3,154 (1,967) 2,108 139,761 3,154 (1,967) 2,108 Restricted Prices Trust 11,417 489 (625) 259 Memorial Fund 5,476 - 0 - Hall Kitchen 264 - - - 17,157 489 (625) 259 Endowment Endowment Property 270,011 - - - Endowment Funds 269,174 12,825 (4,576) 8,132 539,185 12,825 (4,576) 8,132** |
2024 Balance carried forward £ 299,830 299,830 143,056 143,056 11,540 5,476 264 17,280 270,011 285,554 555,565 |
|---|---|
| Total Funds 900,822 185,802 (84,479) 13,586 |
1,015,731 |
** Representing funds held for intended investment in a second property to generate rental income.
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