APCM Agenda item 3(c) 

Annual Report of the Parochial Church Council 

## **Parish of Earley St Peter, Reading** 

## **Annual Report of the Parochial Church Council 2024** 

## **Background** 

The Parish of Earley St Peter is a Church of England parish within the Diocese of Oxford. It is part of the Reading Deanery within the Archdeaconry of Berkshire, which is overseen on a day-to-day basis by the Bishop of Reading (The Right Reverend Olivia Graham, until she retired in September 2024). 

The Parochial Church Council (Council) is in charity law the church’s trustee body (Registered Charity No: 1128997). Its membership, powers, and operation are regulated by the Parochial Church Council (Powers) Measure 1956 and the Church Representation Rules 2020. Its principal function is to co-operate with the clergy ‘in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical’ (s2(a) of the Measure). 

The Council also has trustee responsibilities for (i) St Peter’s Church Hall, Church Road, Earley RG6 1EY and (ii) 33 Clevedon Drive, Earley RG6 5XF. The Vicar and Churchwardens are trustees for (i) the site of Earley St Peter’s CE Primary School Earley RG6 1EY and (ii) 77 St Peter’s Road, Reading RG6 1PD. 

This Annual Report and the attachments have been approved by the PCC to fulfil the reporting requirements of Rule M5(1) of the Church Representation Rules 2020. 

## **Membership** 

PCC Membership is regulated by Rule M15 of the Church Representation Rules and in 2024 was: 

## _Ex-officio_ 

- _(a) All Clergy licensed to the benefice (Rule M15(1)(a))_ 

The Revd Kate Wakeman-Toogood 

- _(b) TWO Churchwardens elected by the Annual Meeting of Parishioners for one year (Rule M15(1)(e))_ Professor Ann Sheen  (Vice-Chair) 

Mr Clive Nunn 

_Elected members_ 

- _(c) FOUR representatives on the Deanery Synod, elected for three years (Rule M15(1)(i))_ Mrs Sheila Jordan Mrs Catherine Rawcliffe Mr Clive Tillin 

All three elected in 2023 until APCM 2026. There is one casual vacancy for a Deanery Synod member. 

- _(d) TWELVE lay members elected at the Annual Parochial Church Meeting for a period of three years, with one third standing down every year (Rule M15(10 (j))_ 

_2022-2025_ 

Mr Michael Chow Mrs Sarah Godwin Mrs Anne Richardson Mr Brian Wynn 

14 



_2023-2026_ Mr Richard Miller Mrs Ann Morbey Mrs Elizabeth Netherwood Mr Neil Whitehouse _2024-2027_ Mrs Jenny Carr Mrs Sue Manser Mrs Rosie Rogers 

_Co-opted members_ 

- _(e) Not more than FIVE members co-opted by the Council for one year (Rule M15(1)(k))_ Mrs Helen Price (PCC Treasurer) Mr John Collins 

_Attending_ 

- _(f) The following persons are invited to attend all PCC Meetings (Rule M24(4)):_ Mrs Diana Lea (PCC Secretary) 

## **Appointments** 

_Local Governing Body of Earley St Peter’s CE Primary School:_ Nine Foundation Governors are nominated by the Trustees of the Keys Academy Trust to the Local Governing Body, in consultation with the Diocesan Board of Education and the PCC. One of these places is usually for the incumbent. 

_Deanery Synod:_ All licensed clergy serve _ex-officio_ on the Deanery Synod. Mrs Sheila Jordan, Mrs Catherine Rawcliffe and Mr Clive Tillin are our lay representatives (there is one vacant place). 

## **Meetings & Notable Business** 

The Council held seven meetings in 2024 to discharge its statutory responsibilities. The new incumbent, Revd Kate Wakeman-Toogood, was installed at the beginning of January and brought a lot of energy and vision to all aspects of church life, including the activities of the PCC. Work began on a new Mission Action Plan with a PCC Strategy Day held in November. Four main areas of focus were identified: Worship and Prayer; Pastoral Care; Children and Youth; and Mission (local and worldwide). PCC subcommittees will focus on each of these areas. Safeguarding and caring for the environment are strands that run through all four areas. 

The Annual Meetings took place on 12[th] May 2024 and Ann Sheen and Clive Nunn were re-elected as Churchwardens. 

Council made grants in support of three charities: RE-Inspired (working locally to deliver RE in schools), CMS (towards Anna Sims, the missionary in Peru supported by the parish), and the Anglican Diocese of Shinyanga in Tanzania, supported through a formal link. Each charity was given a grant of £250 a year for the period 2022-2024, plus money raised from specific fundraising events that were organised to support them. At the end of 2024 the PCC agreed to renew its commitment to all three charities for a further three years (until 2027) at the same rate of £250 a year. 

As the financial statements show, our financial results for the year on day-to-day activities showed an increase in income of 11%  but an increase in expenditure of 19%.  This led to an overall reduction in incoming resources.  Fortunately there were no significant extraordinary costs during the year, but such matters are probably never far away.  Our current budget estimates indicate a probable deficit for 2025 of 

15 



about £25,000, so it remains more important than ever that we control expenditure as best we can.  We can meet such a deficit from historic reserves, but clearly we cannot keep doing that. 

## **Committees** 

## _(a) Standing Committee_ 

The Standing Committee is established under Rule M31 and ‘transact[s] the PCC’s business between meetings of the PCC.’ The Standing Committee met roughly every other month in 2024 to review upcoming Council business, plan Council agendas, and deal with any urgent or delegated business. 

## _Membership_ 

_Ex-officio_ : The Revd Kate Wakeman-Toogood; Professor Ann Sheen (Churchwarden, PCC Vice-Chair); Mr Clive Nunn (Churchwarden) 

_At least TWO PCC members:_ Mrs Helen Price (PCC Treasurer), Mrs Sheila Jordan 

Mrs Diana Lea (PCC Secretary) attends all meetings. 

## _(b) Other committees_ 

Under Rule M32, the Council may appoint Committees. These may include persons who are not PCC Members, and the minister is entitled to be an ex-officio member. No such committees are currently appointed. 

## **Signature** 

Signed ……………………………………………….. 

The Revd Kate Wakeman-Toogood (Chair) 

Date……………………………… 

16 



PARISH CHURCH OF
EARLEY St PETER, READING
ACCOUNTS
31st DECEMBER 2024

Pag8 1
Parish Church of Earfey St Peter, Reading
Treasurerfs Report
For the Year ended 31st December 2024
Whllst the pressures of the pandernlc are now largely behind us, we continue to face the routine challen8es
which church finances p￿sent and the Éver-present and sornetimes conflicting prigrities of church Ilfe. Our
l¥gest financial commitment by some margin is the DiccEsan Parlsh Share. The 2024 sum paYa￿e was £69,497
and this will increase in 2025 to ￿1.755. The 8lobal economy fluctuates significantly as WDrld events unfold.
and this has a direct Impact on the value of our trust funds and the income we derive from them. The income
from investments increasèd by £2.276 over 2023, but the total value of those funds increased by just £10,981
compafed to an increase of £41,257 in the previous year. In other words. incorne increased slightly but the rate
of Browth declined Significantly. We are taking action wheiever we can to ma%imi5e our income and gTOWth, but
it is difficuk.
The accounts show a surplus for the year of £16,65812023 £58,41al. Thls includes the In¢￿aSe In ihe value of
the Trnst Funds of EIO.981 12023 £41,257). The actual surplus on day-to-day artivities was £5.310 12023
£L6,5771. Whilst we are Still on the 'right side of ihe line, on th15 rneasure. Ihe reduction is ct>ncerning and
illustrates the fact that we tnust continue to Exercise 50und 5teward5hip of our funds and the expenditure we
incur.
The church hall continues to operate as a valuable resource, both lor thurch artivities and as an attractive venue
for other organisations. The surplus for this year 15 £1.91012023 £6.9201 with income from hiring5 increasing to
£49.91312023 £4S.4701. The hall is. to a large extent, a commynity resource and its benefit of course extends
beyond its finanual results.
The worfd contlnue5 to be an Interesting and challenging environment in which to I1￿. and those challenges are
often reflected in our parish life. The management of church finantes continues to be an important aspect of
that community lrfe and we need to be prepared. so far as we ever can be. for events as they unfold. l am as
ever Erateful io all those who help to make sure that thi5 runs 5rn00thly and etficierstly- it is very Much a team
effort
Finally I would like to express my thanks to all who contribute to our finances in so many different ways, and
who make It posslble to do all that we do in thi5 busy parish.
Hejen Prlce
PCCTreasurer

Parish Church of Earley St Peter. Readlng
Page 3
Balance Sheel at 31st December 2024
Note
2024
2023
FIXED ASSETS
Tangible fixed assets
Investment assets
41al
41bl
358.345
490.742
358,345
479.761
CURRENT ASSETS
Short term deposts
Cash at bank
Taxal'on recoverablo
other debtors
201,754
53.651
9.932
14,288
279,625
184.074
61,022
9,521
13.587
268,204
LIABILITIES.. AMOUNTS FALLING
DUE WITHIN ONEYEAR
14.196
11.452
NET CURRENf ASSErs
265.429
256,752
NET ASSETS
£1,114,516
£1,094,858
FUNDS
Unrestricted
Restricted
Endowment
759.394
753.563
338,949
1.098,343
328.722
1.081.685
RESERVES FOR FUTURE EXPENDITURE
Church Hall Maintenance provisio
16,173
£1.114,516
13,173
£1,094,858
Approved by the Parochial Church Council and signed on its behaff by".
Re¢d K Wakeman-Toogood
Mrs H Pr￿e (Treasurer
Dale
The notes att8che¢J fom part ol these accounts

Parish Church of Earley St Peter. Reading
Pag8 4
Notes to the Finanelal Ststements for the Year frndod 31st Dècèmber 2024
ACCOUNTING POLICIES
The financial statamenls have been prepared in accordanc& with the Church Accounllng
Règulations 2006 t¢gether with applicable accounting standards and the Charities SORP.
The financial statements have been prepared under the historical ¢y)51 convention as modlffed by the
annual revaluation of listed investments to market value.
Funds
General lunds represent funds of the PCC that are not subjecl to any restrictions regardlng thelr
Usg 8n(l are avallablg for application on thè general purposes of the PCC. Funds designated for
particular purpose by the PCC are aL80 unrestricted.
The accounts include all transact￿nS. assets and liabilities for which the PCC is responsible in 18W.
They do not include the accounts of chuich groups that ow8 thgir main affiliation to anolhgr body
nor those that aTe informal gatherings of Church members.
Incoming R•$our¢es
Voluntary income and ¢8Pital sour￿$..
CO1￿ctionS are recognlsed when receNed by or on behalf of the PCC.
Planned giving receivable under Covenant is recognised only when received.
Income Tax r8coverable on covenants or gift aid donations is recognised when the incomè is
recognised.
Grants and legacies ID the PCC are accounted lor as soon as the PCC is nolified of its18gal
enlillemenl and the amount due.
Fundraising gvents are accounted for n81 of incidentsl expenses.
Other ordinary income..
Rental income from thalgtting of church premises is recognised when the rental 18 due.
Income from investments:
Dwidends and interest are aceounled for when receivable. Tax recoverable on such income is
recognised in the saTne accounting year.

Parlsh Church of Earley St Peter, Readlng
Page 5
Notes to the Financial Statements forthe Year ended 31st December 2024
ACCOUNTING POLICIES- continued
Resources u$¢d
Grants..
Grants and donations are accounted for when paid over, or when awarded, ifthat award creates
a binding obllg8tion on the PCC.
Activities directly rebting lo the ¥th)rk of the Church..
The diocesan quots or parish share is accounted for when payable.
Flxed asso1$
Consecra18d L8nd and building5 and moveablo church lurnishiTrJ5'.
Consecrated and beneficed property is excluded frorn the accounts by s.9612llal of the Charities
Act 1993.
No value is placed on moveable church fumishings held by the churchwardons on special trust
for the PCC and vthich require a faculty for disposal since the PCC considers this to be
inalienable property. All expenditure incurred during the year on consecrated or benefice
buildings and ffloveable church funishings, whether maintenance or improvement. is written off
as exppndilure in the SOFA and sèpèrately disclosed.
Inveslinents..
Investments are staled at market valuation.
Current assets:
Short-term deposits include cash held on deposll eithar wlth th8 CBF Church of England Funds
or al the bank.
- Other debtors represents tenant deposrts lodged Ihe govemment deposit scheme logeth8r wth
lettings incomè billed but not yet received and expendilure paid in ￿Spettt of future yeais.

Parlsh Church of Earley St P•ter, Readlng
Paae 6
Notès to the Flnanclal Statements for the Year ended 31st D•cemb•r 2024
INCOMING RESOURCES
Unrestricted Restrlct•d Endowment
Funds
Funds
Funds
TOTAL FUNDS
2024
2023
2181 Incoming Te$ources
from dorK)r5.'
Planne(I giwng
Income tsx recoverable
CollECtions
GTft days
Legacie5
Sundry th)natlons
65,201
17,068
3,172
65,201
17,(￿8
3.172
52.443
15.550
4,136
2,932
578
9,421
367
8.321
367
8,321
£94.129
£94,129
£85.060
21bl Other incAJming
resources..
33 Clevedon Drive
77 St Peters Road
Wedding & funeral
fees Inetl
22,fKJO
16,471
22,￿0
16.471
23,200
15,693
7,127
7.127
2.121
£45,598
£45.598
£41.014
21cl Income from charitable
and èneillary trading-.
Sundries
Church hall letting etc
2,247
51,000
2.247
51.000
1.067
46,780
£53,247
£53.247
£47,847
2(dl Income from
investTh*nts..
Dwidends and interest
linduding any reclairned tax)
8,203
10.114
18,317
16.041
£8,203
£10.114
E18.317
£16,041
TOTAL IhTCOMING
RESOURCES
£201,1TI
£10.114
£211.291
£189,962

Parish Church ol Earley St Peter. Reading
Page 7
Nots$ to the Flnanclal 5tstements for the Year ended 31st De¢ember 2024
RESOURCES USED
Unrestricted
Funds
Re$tricted Endowment
Funds
Funds
TOTAL FUNDS
2024
2023
31al Grants..
Speci81 collections
General grdnts
2,835
1,250
2,835
1.250
2.418
500
£4.085
£4,085
£2.918
31bl AetiviJes direcly
relaling to the work of
thè Church".
Ministy..
Parish share Inetl
Clergy expenses
Church running 8xpens8S
Churth Maintenance and
upkeep
General gxpenses
Upkeep of the churchyard
Churth hall running Costs
77 Sl Poters Road costs
33 Clevedon Drive costs
Church musi
Youth and children's woik
67,793
1.699
13,105
67.793
1,699
13.105
58,619
11,664
7,348
2,454
7.348
2,454
5,550
49.0￿)
7,412
3,389
15.193
6.053
3,901
2.028
5,716
39,860
4,701
7,441
11,420
2.163
5,550
49.090
7.412
3,389
1S,193
6,052
£173.536
£5.550
£179,086
£147,513
31c) Church management
and administrBtion'.
Administrator and
Secretary
Website, statior*ry ancl
tglephone
Prof855K)nal le8s
Office equipment
14,484
14,484
13,042
2,261
3.937
1,761
2,261
3.937
1,761
2,002
3,894
22.443
22.443
22.378
TOTAL Ra8OURCES USED
£200,064
£5,550
£205.614
£172,809

Parish Church of Earley St Peter, Readlng
Page 8
Nolgs to the FlnJnclal Statemanis for the Year ended 31st Deeombgr 2024
4. FIXED ASSETS FOR USE BY THE PCC
Freehold lar
and buildings
(al TANGIBLE FIXED ASSETS
Gr055 book value- original CDSI
£ 358,345
The fre6hold land and buildings comprise houses 2t 33 Clevedon DThva and 77 Sl Pelerfs
Road. There is no provision for depreclatK)n. 33 Clevedon Drwe was origin811y purchased
with the assistance of a loan frorn the Church Hall funds of £25,000. This advance may btr
retumable to the Church Hall resources should the property b8 501d.
The thurch buildlngs. hall and all contents are not listed as fixed assets at cosl bul be￿een
them have an insured value of £13.520.000
Ibl INVESTklENT ASSETS
Investrnents held by the Central Board of Finance- Investment unlts.
Cost at 31 December 2024 was £16B,187 (market value £490.7421 and at 31 December 2023
was £168.187 Irrwrkel value £479,761)
S. ANALYSIS OF NET ASSEfs BY FUND
Unrn8trlcted R85tricted
Fundb
Funds
Endowment
Funds
Total
Fixed Assets and Invoslments
Current A55et5
Current Liabililles
Provision for futu￿ expentJitur8
Fund balan¢e
638,218
151.545
114,1961
16,173
£ 759,394
210,869
128,080
849.087
279.625
114,1961
16.173
£ 1,098,343
£ 338,949
Se8 note 7 below for Iilentlfi￿t10n of funds.
6. LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
Tenani rent deposits
Expenses due but not pald at year end
Estimated accrued expenses not yet bllted
1,590
4.662
7,944
£ 14.196
1.650
2.057
6.027
£12,054
7. FUND DETAILS
The restricted fund5 have now been used up. Movement Tn the income and 8xr￿nditUre account
relates solely to collections mad8 for specffic purposes.
The endowrntnt fijnd compri585 the Graves Account, incorpordling the Hubbard ￿qUests.
Income received by the fund in exce55 of the costs incuffed In maintaining the graveyard
can be used for other parish purposes. These funds are held in the endowment fund b8nk accounts
and included in the current value of th8 endowment funds.

Independant Exam5nerfs Report to the Members of the
Parochlal Church Councll of Earley St Peter, Reading
Page 9
This report on the accounts ol the Parochial Church Council of Earley St Peter, Re&Jing for the year
ended 31 December 2024. as set out on pages 1 to 8, is in respect of an exarnination carried out under
Regulation 3lcl of the Church A¢counting Regulations 20061'the Regulations'l and s.43 of the
Charitias Acl 19931'the Acl'l.
Respective responBibilities of the PCC and th¢ examlner
As members of the PCC w)u are responsible for thè preparation of the accounts., you consider that the
audit requiTernenl of the Regulats'on 3lcl arKJ section 43121 of the Act do not apply. It is my responsibility
to issue this report on those in accordance with the terrns of Regulation 25.
Basis of this report
My examination was Carried out in accordance with Ihe General DirectK)ns gwen by th6 Chariliy
Commission under section 4317llbl of the Act and lo be found in the Church guidance. 2006 edition,
issued by the Finance Dwision of the Archbishops, Council. That examination includes a review of the
accounting records kept by the PGC 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 con￿ming any such matters. The procedures und8rtaken do not provkje all thg
evidence that would be required in an audlt, and consequently I do not express an audit opinion on Ihe
view given by the accounts.
Independent 9￿mIn$￿$ $tst•mont
In connection with my examinatK)n. ￿ fflatter h8s come to my attention-.
whlch gives me reasonable cause to believ¢ that in any materlal respect the ￿qUIrements
la) to keep a¢￿untIng records in a¢cordan¢e with section 41 of the Act- and
Ibl to propare accounts which accord with the accounting records and comply with the
requirem&nts of thè Acl and the Regulations have not been met,. or
lo which, in my opinion, attention should b8 drawn in ord8r lo enable a proper understsnding of the
accounts to be reached.
10 Beech Court
Wokingham Road
Hurst
Berkshire
RG10 ORQ
VERNON GOSLING FRIDAY LIMITED
Chartèrad C8rtifi8d Accountant5
March 2025

Parish Church of Earl8y St Peter, Reading
Church Hall
Income and Expenditure Account
For the year ended 31st December 2024
2024
2023
INCOME
Hire charges
Bank interest
49.913
1.087
51.000
48,470
310
46,780
EXPENDITURE
Hall running costs-
Salaries
Mainlenance
Light and heat
Water
Insurancè
Telephone
Gleaning and secur6ty
Sundry
9,066
6,861
5,733
707
2,306
1.8
18.989
532
8,554
3.050
5,767
560
2.374
1,701
14,450
404
46,090
4.910
36,860
9.920
TRADSNG SURPLUS
Hall mainlBnance provislo
3.000
3.000
SURPLUS I IDEFICITI FOR YEAR
1,910
6,920
BALANCE SHEET
AS AT 31 DECEMBER 2024
CURRENT ASSErs
Cash at bank arKI in hand
Cash on deposit
3,258
46,549
49,807
7,624
57,431
3.752
41.461
45,213
6.053
51,266
Dèbtors
LESS: LIABILITIES
Hall malntenan¢8 provision
Add charge for year
13,173
3,000
16,173
10,173
3,000
13,173
16,173
5,030
21,203
13.173
3,775
16.948
Creditors
NET Assgrs
£36,228
£34,318
REPRESENTED BY:
Accumulated fund- brought forward
SurplusllDeficill for the y8ar
34,318
1,910
£36.228
27,398
6.920
£34,318

PARISH CHURCH OF
EARLEY St PETER, READING
ACCOUNTS
31st DECEMBER 2024

Independant Exam5nerfs Report to the Members of the
Parochlal Church Councll of Earley St Peter, Reading
Page 9
This report on the accounts ol the Parochial Church Council of Earley St Peter, Re&Jing for the year
ended 31 December 2024. as set out on pages 1 to 8, is in respect of an exarnination carried out under
Regulation 3lcl of the Church A¢counting Regulations 20061'the Regulations'l and s.43 of the
Charitias Acl 19931'the Acl'l.
Respective responBibilities of the PCC and th¢ examlner
As members of the PCC w)u are responsible for thè preparation of the accounts., you consider that the
audit requiTernenl of the Regulats'on 3lcl arKJ section 43121 of the Act do not apply. It is my responsibility
to issue this report on those in accordance with the terrns of Regulation 25.
Basis of this report
My examination was Carried out in accordance with Ihe General DirectK)ns gwen by th6 Chariliy
Commission under section 4317llbl of the Act and lo be found in the Church guidance. 2006 edition,
issued by the Finance Dwision of the Archbishops, Council. That examination includes a review of the
accounting records kept by the PGC 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 con￿ming any such matters. The procedures und8rtaken do not provkje all thg
evidence that would be required in an audlt, and consequently I do not express an audit opinion on Ihe
view given by the accounts.
Independent 9￿mIn$￿$ $tst•mont
In connection with my examinatK)n. ￿ fflatter h8s come to my attention-.
whlch gives me reasonable cause to believ¢ that in any materlal respect the ￿qUIrements
la) to keep a¢￿untIng records in a¢cordan¢e with section 41 of the Act- and
Ibl to propare accounts which accord with the accounting records and comply with the
requirem&nts of thè Acl and the Regulations have not been met,. or
lo which, in my opinion, attention should b8 drawn in ord8r lo enable a proper understsnding of the
accounts to be reached.
10 Beech Court
Wokingham Road
Hurst
Berkshire
RG10 ORQ
VERNON GOSLING FRIDAY LIMITED
Chartèrad C8rtifi8d Accountant5
March 2025