Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## **ST MARY’S CHURCH** , REIGATE 

ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL 

for the year ended 

31 December 2024 

Charity Registration No: 1129140 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

Parochial Church Council of **St Mary’s Church** Reigate ANNUAL REPORT FOR 2024 

## **INCUMBENT** 

Vicar The Revd Richard Wilson The Vicarage 76 Church Street Reigate Surrey RH2 OSP 

## **AUDITOR** 

Xeinadin Audit Limited 5 Robin Hood Lane Sutton Surrey SM1 2SW 

## **BANKERS** 

HSBC UK Bank Plc 9 The Boulevard Crawley RH10 1UT The Central Board of Finance of the Church of England Senator House 85 Queen Victoria Street London EC4V 4ET Skipton Building Society 43 Church Street Reigate Surrey RH2 0AE 

National Westminster Bank Plc (Redhill) 39 Station Road Redhill Surrey RH1 1QN 

## **ALL CORRESPONDENCE TO PRINCIPAL PLACE OF OPERATIONS:** 

St Mary’s Parish Office St Mary’s Church Centre Chart Lane Reigate Surrey RH2 7RN Tel: 01737 221100 

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Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

Parochial Church Council of **St Mary’s Church** Reigate ANNUAL REPORT FOR 2024 

## **BACKGROUND** 

St Mary Magdalene Parochial Church Council (PCC) has the responsibility of co-operating with the incumbent in promoting within the ecclesiastical parish the whole mission of the Church of Christ.  The PCC is also responsible for the maintenance of our buildings, which include the historic church of St Mary Magdalene (Reigate Parish Church), our Church Centre, the Heath Church and our staff housing. 

The Parochial Church Council is a corporate body (PCC Powers Measure 1956, Church Representation Rules 2006) and is a charity registered with the Charity Commission under registration number 1129140. 

## **MEMBERSHIP** 

Members of the PCC are either elected by the Annual Parochial Church Meeting in strict accordance with the Church Representation Rules or serve as ex officio members.  The PCC can also exercise its right to invite co-opted members as it deems fit. 

## **PCC MEMBERSHIP FOR THE YEAR ENDED 31 DECEMBER 2024 Elected Members Deanery Synod** 

Miss S Bertlin Mrs V Booth Mr G Evans Mrs P Parry - Licensed Lay Minister Mrs N Peck Mr A Prestwood 

## **Ex Officio Members** 

Revd R Wilson – Vicar & Chair Revd B Forbes – Associate Vicar Revd K Capper – Self Supporting Minister Revd H Fraser – Self Supporting Minister Revd S Russell – Associate Vicar (from 12.09.24) 

**Hon Secretary** Miss S Bertlin 

## **PCC** 

Mr T Andrew (to 29.04.24) Mrs R Beggs (to 29.04.24) Mr J Bunch (from 29.04.24) Mr I Capper Mrs H Chesterton Mr T Collins (from 29.04.24) Mr Z Downie (from 29.04.24) Mrs T Hillsdon (to 29.04.24) Mrs D Jackson Mrs B Juntunen (to 29.04.24) Mrs E Lyth Mr A Morgan (to 29.04.24) Mr J Norman (from 29.04.24) Mrs L Martin (from 29.04.24) Mr N Pettitt 

## **Hon Treasurer** 

Mr M Randall (from 12.09.2024) 

## **Churchwardens** 

Mr L Jackson Mr N Rayner 

_3_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate ANNUAL REPORT FOR 2024 

## **COMMITTEES** 

The PCC operates through a number of committees that report to the main PCC meeting from time to time. The PCC members, who are also Trustees for the purpose of charity law, are nominated and elected (other than those holding ex officio positions or who are coopted) at the Annual Parochial Church Meetings. New members of the PCC are inducted into the workings of the Parochial Church Council through meetings with existing members of the PCC, the Churchwardens, and the Incumbent. Information in relation to matters to be discussed at PCC meetings is circulated to members prior to each meeting. PCC members, who include the Clergy, Wardens and holders of other offices, are considered to be the Key Management Personnel as they are responsible for directing church affairs. All such personnel give of their time freely and receive no remuneration for their service on the PCC directly from St Mary’s. Details of PCC members’ expenses, other than reimbursements of costs incurred on behalf of the church, and related party transactions are disclosed in the financial statements. 

The pay of staff is reviewed annually and normally increased in line with the Diocese of Southwark salary and stipend increases. All staff are paid at or above the Living Wage Foundation minimum wage. 

The following committees supported the work of the PCC during the past year: 

## **Standing Committee** 

The Standing Committee exists to transact the business of the PCC between meetings and may form the agenda for meetings of the PCC. It consists of the incumbent, the Associate Vicars, the Churchwardens, two deputy churchwardens, the Treasurer and may include other co-opted members. The Standing Committee meets on an ad hoc basis as needs arise. There were 6 meetings of the Standing Committee in 2024. 

**St Mary’s Global** This committee exists to promote our involvement in the church’s mission across the world. The committee is active in encouraging support for our link Mission Partners (serving God around the world), financially, practically, and through prayer. The Committee seeks to ensure that the financial support for our Mission Partners and other mission organisations is appropriate for their needs within the resources available. 

## **Fabric and Facilities Committee** 

This committee exists to oversee all repairs, maintenance and building works affecting the church, the church centre and PCC owned housing. 

## **Heath Church Committee** 

This committee exists to oversee and plan the mission and ministry of the Heath Church Community under the responsibility of one of the Clergy team. 

## **Safeguarding Committee** 

This group meets to make sure that the church is compliant with its safeguarding obligations and follows through on all incidents or issues that relate to safeguarding 

## **St Mary’s Local** 

This is our newest committee and was created to explore and develop the mission, evangelism and social outreach of the church. 

_Page 4_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

Parochial Church Council of **St Mary’s Church** Reigate ANNUAL REPORT FOR 2024 

## **OBJECTIVES AND ACTIVITIES** 

As a Parish Church within the Church of England's Diocese of Southwark, St Mary's Church (also known as Reigate Parish Church) exists for the benefit of its wider community as well as for those who form part of our week-by-week worshipping community across a number of congregations. 

## **Seeing God change lives** 

At St Mary’s and the Heath, our shared vision is to see God change lives, families, and churches. This is what we long to see happen as we follow Jesus faithfully together, ready for his return. We commit to faithfully following Jesus, sharing his good news, and living for his coming kingdom. 

We draw people into intentional apprenticeship to Jesus by: 

- **Reaching out** to a world in need 

- **Forming** people into a new identity in Christ 

- **Developing** a culture of discipleship 

- **Loving** each other as family 

- **Giving** ourselves away for the sake of others 

As trustees and stewards of God’s resources, we have been invited to be part of this exciting journey, investing in and supporting the mission and vision he has laid on our hearts. 

The work of the church is wide-ranging. Members of our wider parish community have continued to benefit from the mission and ministry of the church and its members, in a variety of settings and across all age groups.  When reviewing these and other activities, the PCC has had due regard to Charity Commission guidance on public benefit. 

We are very mindful of the fact that the church could not operate without the generous contributions of its staff and its host of volunteers. We are enormously grateful and indebted to all who contribute in so many ways to the life and health of St Mary's Parish Church with the Heath Church. 

## **ACHIEVEMENTS AND PERFORMANCE** 

2024 has been a year of **embedding** and **strengthening** .  As our community continues to evolve and develop, we have been pleased to welcome and establish **new staff** and **new members** as we have sought to strengthen and extend our youth and children’s work, deepen our culture of discipleship, and continue reach out to our community and widen our family life. 

As a community where **worship** lies at the heart of all we are, it has been great to see more people involved in leading, and shaping our worship together, not only at **St Mary’s** but also at the **Heath church** where the community life and lovingly warm welcome remains so strong.  We are noticing that there is a slight uplift in attendance at our earlier 8.30am service, perhaps because the timing appeals to families where one parent can come to worship.  The 10.30am service at St Mary’s is growing with the numbers of families with younger children is a as significant part of this growth.  It has been a joy to see how our 6.30pm has been strengthened by a growing group of younger people committed to worship each week. 

Sharing the same themes across our different congregations aims to intentionally build unity and share vision, and in 2024 we have had series on: 

- The relevance and impact of the gospel 

- Jesus’ teaching in the sermon on the mount in anticipation of the coming kingdom 

- • Israel’s exodus journey from slavery to freedom 

- Walking with Jesus through every experience of life – its joys and its sorrows. 

_5_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate ANNUAL REPORT FOR 2024 

Under the leadership of Emily Irving and Mandy Childs we remain so grateful to God for the large number of **children and young people** that attend our services and activities.  We have sought to improve our support of children with **special needs** , auditing our programme and culture, and also our monthly **All Together services** which are joyful and vibrant.  We give thanks for the huge number of volunteers who work with our children on Sundays and throughout the week, without them we could not offer the wide range of opportunities. 

Our **youth work** provision is developing and growing, both numerically and in depth with new leaders offering themselves to be involved.  A new Sunday morning youth group meeting in the Vicarage has begun and to see the number of young people attending our evening service and the post-service ‘TOAST’ gathering grow week by week has been wonderful.  The summer Satellites Festival was also a particular highlight and the Girls Brigade, under the leadership of Natalie Watson, remains an important part of our outreach to young people. 

Although we didn’t appoint a **0-5 Children’s Minister** in 2024 volunteer leaders and team members have stepped up and pulled together to maintain and build on what we have achieved in the past.  The appointment of **Simon Russell** as our new **Associate Vicar** overseeing **Discipleship and Leadership** will be significant.  He is bringing his extensive experience to the role of overseeing all aspects of our children’s and youth ministry and following his review of our current needs and opportunities, we look forward to appointing a new 0-5 minister in 2025. 

Our vision for **making mature disciples** remains central.  Kate Capper has been offering **spiritual direction** to a number of people.  As well as Lent Courses and weekly bible studies, there have also been a new **‘Seek First’** course, marriage preparation sessions and a Parenting for Faith course.  It has been encouraging that the numbers of people meeting mid-week in small groups is on the increase and this has remained a significant part of our community life together.  These take place in homes as life groups, as well as in the centre.  It is always so encouraging to see the centre buzzing every Wednesday with **Jigsaw** , **Mid-week Communion and Lunch** , and then **Satellites** making use of every room, with new people joining each of them. 

**Administratively** we remain strong.  Our finances and systems are constantly reviewed. **Safeguarding** is an area where we have continued to monitor and develop our approach, and we look forward to welcoming a new member to our staff team to take over from Vineeta Chiles who has been such a valued member of the team.  We are grateful for the work of our Safeguarding Officers (Jane Melbourne and Leslie Jackson) and we have been working to expand our team in 2025 further strengthening our ability to keep everyone safe. 

Maintaining our **buildings** and physical resources is a demanding, although often hidden, part of our church life.  It has been so beneficial to have Tim Hyde’s input over the last year having taken over from Roy Mundy.  We take seriously the need to update and maintain the Centre which is so valued.  It was a joy to **celebrate the Church Centre’s opening 10 years** ago over a special weekend in November and to host the vibrant Christmas Market once again. It is no surprise that, after 10 solid years of constant use, for both church and community activities, that we have had to spend more on this than usual. 

Giving ourselves away to **mission** and **outreach** , both locally and oversees remains a key part of the way we seek to fulfil our purposes.  Partnerships with local charities and agencies, which we have supported prayerfully, practically and financially, remain important as does our relationships with our global mission partners.  As part of this outreach, we have supported the work of our former Asst. Vicar, Nigel Griffiths and we are so encouraged by the way that the churches in Merstham have blossomed and grown over the last year under his leadership. 

Strengthening our own community life and relationships is always vital and we were pleased to be able to advertise a **Weekend Away** planned for October 2025.  This will be our 

_6_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate ANNUAL REPORT FOR 2024 

first Weekend Away for over a decade and we hope will be attended by many in our church family of all ages and stages. 

All of church life needs to be underpinned by **prayer** .  It has been good to see the number of people attending our monthly prayer meetings, although we would love to see this grow.  Our annual Easter Prayer Week, hosted by Emily and young people was also significant. 

## **NUMBERS** 

Once again, we have been encouraged by our attendance at our Easter and Christmas services – 512 on Easter Day, 948 at our Christmas Carol Services, 1436 over Christmas Eve and Christmas Day.  Our average weekly attendance was 295 adults, and 83 under 16.  At the APCM in April 2024 there were 522 names on the electoral roll (573 in 2023). 

## **FINANCIAL REVIEW OF THE YEAR** 

In our budget projections for 2024 we anticipated that our expenditure would exceed income by £61,105 (Unrestricted funds only) therefore creating a budget deficit. The actual 2024 deficit was £55,000 (Unrestricted funds only) so a small improvement against the budget. 

The deficit leaves the General Fund Reserve at £253,224 as at 31 December 2024. 

## _Income from donors – Note 2(a)_ 

Compared with 2023, our planned Giving and gifts decreased by £13,720 or 3%. This is explained by a combination of a lower net number of regular donors and several generous donors either reducing their monthly giving or stopping their giving. The general prevailing economic climate and consequent squeeze on household income and expenditure may have also impacted the overall giving. 

A Giving campaign took place in early 2024 which did create an uplift in giving but this has not created the positive, longer term impact that we hoped for. A more structured giving campaign is planned for March 2025 which is being supported with practical advice from the diocese. 

In 2024 we have recognised £10,000 (2023 £70,000) for legacies that have been bequeathed to St Marys but not yet paid. 

We continue to make sure that our giving is tax efficient.  There was a contribution of £102,683 to the General Fund as a result of Gift Aid tax refunds. 

## **We are enormously grateful to God for this provision and blessing and to everyone in the church family who has contributed so generously.** 

## _Income from church activities – Note 2(b)_ 

Income from the Church Centre and the Church lettings were up c£6,000 from 2023 levels thanks to the efforts of the Operations team.  Further activity is taking place to ensure that both of our valuable resources are used fully, but appropriately. 

This heading also includes rental of church residential properties, and fees for weddings and funerals. 

## _Expenditure – Grants – Note 3_ 

Payments to Individual Mission Partners amounted to £22,437 (2023 £27,307), a reduction from 2023 as one partnership came to an end in 2024.  Grants totalling £48,845 were made to various missional and evangelistic organisations including Tearfund, IJM, Open Doors, Sparkfish, Community Debt Advice  and the Children’s Society.  Full details of all donations, totalling £71,283 (2023 £81,216) are shown at Note 14 to the accounts.  The PCC keeps under regular review the amounts given to mission partners and other donations. 

_Expenditure – Other – Note 3_ 

_7_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate ANNUAL REPORT FOR 2024 

In September 2023 the PCC agreed to increase the Diocesan Share for 2024 to £262,000. For 2025, the PCC have agreed a revised contribution of £200,000. Also included under the heading Diocesan Share, for 2024, was £40,805 in respect of the services of one additional member of clergy from September 2023. 

Staff costs have increased from £187,481 to £209,592. The principal reason for this is the appointment of a full time Youth Minister and the additional member of clergy who focuses on Community Life.  The budgeted expenditure for 2025 will see this figure increase further in line with the strategy agreed by the PCC. 

## _Balance Sheet_ 

Capital expenditure of £16,156 (2023: £3,508) was incurred in 2024.  This included audio visual assets, computing equipment and a new door entry system for the church centre. 

As in previous years we have used a property valuation website to provide an internal valuation of our 4 residential properties, for Balance Sheet purposes.  The value of these properties has increased in 2024 by £50,000 to £1,890,400 (2023 £1,840,400). 

## _2025_ 

We have decided to budget for expenditure to exceed income by £58,052 as we expect many expense headings, particularly staff costs, to increase.  We cannot at present foresee these costs being totally matched by increases in income.  We do however start the year with adequate reserves (see below), and it seems wise this year to use in part these reserves. 

## _Peggy Caffyn-Tees Legacy_ 

This legacy continues to be fully invested in 4 CCLA funds with a gain of £9,069 bringing the value invested to £352,458. The gain reflects the general upturn in the investment market during 2024.  A review of investments has been undertaken in 2024. Income in 2024 from the sum invested amounted to £12,040 (2023: £11,654).  During 2024 income of £5,663 was spent (2023: £5,544).  The balance carried forward and available for use in future years now stands at £62,188. 

The total sum received in 2013/14 was £359,696. Of this amount, £121,589, was restricted for the Heath Church, with £1,384 remaining (2023: £1,384).  The other two thirds, initially £238,107, is held on trust by the PCC for an indefinite period with the income only to be used to maintain Peggy’s family graves, and for fabric work on the Church. 

## **RISK MANAGEMENT** 

The PCC has considered the major risks to which the church is exposed including safeguarding children and vulnerable adults (in which regard the PCC follows the Diocese of Southwark Safeguarding procedures in full and has two experienced safeguarding officers to assist it), disability discrimination, data protection, health and safety and fire protection. The Risk Register is reviewed annually by the PCC. 

The PCC considers the principal financial risk facing the Church is that expenditure is not matched by income. This risk is managed by the preparation of regular financial statements, now utilising the Xero accounting system and an annual budget which is regularly reviewed and updated. 

## **FUNDRAISING** 

The Church’s fundraising activities comprised a giving campaign which included teaching on Christian giving and invited a response. The majority of the Church’s income is derived from standing orders and one-off donations from Church members.  Additional contactless giving terminals were purchased for use on Sundays and midweek.  The hiring of the Church and Church Centre also provides a good source of income.  The Church does not employ outside fundraisers.  The Church complies with the principles of the Charities Governance Code. 

_8_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate ANNUAL REPORT FOR 2024 

## **FUTURE PLANS** 

Building on all that has taken place we continue to pray that **2025** will be a year of increasing momentum, where we see a growth in **community** , **connection** , **mission** , and **formation** as we embrace our identity as a community **consecrated** and set apart by God for his purposed. 

We remain very mindful of our need to secure our **finances** going forward, raising income to be able to match our vision and sense of calling and we have been planning a ‘Living Generously’ Church Giving campaign for March. 

In line with our strategic priorities, we want to: 

## **Reach out to a world in need:** 

- Prepare for, and launch, a **‘Begin Well’** group for expectant parents in collaboration with local agencies 

- Work with other local churches to explore the possibly of launching a new **Debt Advice** service with CAP. 

- Build on and develop our outreach to families seeking to appoint a **Younger Children and Families Lead** (0-5 yrs) 

- Further embed our approach to social engagement and local mission around the issues of **isolation** , **special needs** , and **families** 

- Further teaching and training in **evangelism** enabling us to become more confident to share our faith with our natural networks. 

- Further develop our series of **invitational social events** enabling deeper connection and relationship with neighbours and friends. 

- Better connecting church members with **opportunities to serve** and engage in projects both within the church and in the wider community 

## **Draw people into a new identity in Christ:** 

- Run **Alpha Courses** for adults and young people early in the year and see people come to **baptism** and recommitment 

- Teach on **identity** and belonging to church and supporting this further through our **weekend away** . 

- Preach through the **Gospel of Mark** from Easter through to Advent. 

## **Develop a culture of discipleship:** 

- Continue to highlight the importance of **prayer** in every area of church life, sharing testimonies and running the ‘prayer course’. 

- Further develop our **small groups** seeing the level of attendance grow and the number of groups expand. 

- Invest in leaders, developing our **leadership pipeline** and providing training opportunities 

- Lauch a **‘Summer School’ of theology** 

- Hold a **Weekend Away for all ages** 

- Develop our links with New Wine, hosting ‘New Wine Network days’. 

## **Love one another as family:** 

- Continue to develop our **pastoral care** structures and adopt an **Anna Chaplaincy** approach 

_9_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

Parochial Church Council of **St Mary’s Church** Reigate ANNUAL REPORT FOR 2024 

- Strengthen and deepen our relationships with each other through our **Big Weekend** 

**Give ourselves away for the sake of others:** 

- Strengthen our partnership with **Merstham** as they continue to see God bless the mission of the Merstham Team Ministry. 

- Continue to develop our relationships with other Churches and **networks** , locally as well as further afield, as we seek to grow resilient disciples in our secular age. 

## **RESERVES POLICY** 

It is PCC policy to hold in unrestricted reserves the equivalent of at least one month’s budgeted expenditure. It is also our policy to hold sums in reserve for building works arising from the Quinquennial inspection of the Church and for refurbishment of the Church Centre. 

The closing balance of £253,224 (2023 £315,014) on Unrestricted General Reserve on 31[st] December 2024 represents approximately 3-4 months budgeted expenditure in the year 2024.  This sum will provide a very helpful buffer if, as is possible, the church is affected by the continuing cost of living crisis and any further reductions in giving. 

|**Reserves**||**As at 31 December 2024 £**|
|---|---|---|
|Total funds||4,669,362|
|*Restricted reserves and endowed funds||(462,323)|
|**Designated funds||(3,953,815)|
|Free funds||253,224|



*funds not available for general purposes of the charity 

**funds that are designated or otherwise committed (at 31 December 2024) 

Included within the designated reserve total is £3,882,285 which is associated with property assets. These funds can only be realised by disposing of tangible fixed assets. 

## **INVESTMENT POLICY** 

The charity (through its Trustees) has the power to invest in such stocks, shares, investments and property as deemed fit.  The charity has made such investments, principally in relation to the Peggy Caffyn-Tees legacy investments. 

## **On behalf of the PCC on** 

10 April 2025 

## **Revd Richard Wilson** 

Vicar 

_10_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate STATEMENT OF TRUSTEES’ RESPONSIBILITIES 

The Trustees (the PCC) are responsible for preparing the trustees report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the year end and of its incoming resources and resources expended during that year.  In preparing those financial statements, the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in the Charities SORP; 

- Make judgements and estimates that are reasonable and prudent; 

- State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Church Accounting Regulations 2006.  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. 

_11_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

Parochial Church Council of **St Mary’s Church** Reigate INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF **ST MARY’S CHURCH** REIGATE 

## **Opinion** 

We have audited the financial statements of the Parochial Church Council of St Mary’s Church, Reigate (the “PCC”) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: 

- give a true and fair view of the state of the PCC’s affairs as at 31 December 2024 and of its incoming resources and application of resources for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the PCC in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the PCC members’ use of the going concern basis of accounting in the preparation of the financial statements is based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the PCC’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the PCC members with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the annual report, including the PCC members’ report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

_12_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

Parochial Church Council of **St Mary’s Church** Reigate INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF **ST MARY’S CHURCH** REIGATE 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the PCC and its environment obtained in the course of the audit, we have not identified material misstatements in the PCC members’ report. 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of PCC members’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of the PCC members** 

As explained more fully in the PCC members’ responsibilities statement, the PCC members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the PCC members are responsible for assessing the PCC’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the PCC members either intend to liquidate the PCC or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 145 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.  Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.  Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Based on our understanding of the charity, we identified that the principal risks of noncompliance with laws and regulations related to employment, financial reporting legislation and health and safety regulations and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011. 

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team. 

_13_ 



Docusign Enveknpe ID". EF4EFAgA-50644311k9A07-A2BFE4C462FF
Parochial Church Council of St Mary's Church F2eigate
INDEPENDENT AUDITORS, fiEPORT TO THE MEMBERS OF THE PAROCHIAL
CHUFICH COUNCIL OF ST MARVS CHURCH .-
We determined that the principal risks were related to management bias in accounting
estimates, valuation of property, presentation of separately disclosed items and
management override of controls.
In response to the risks identified we designed procedures which included, but were not
limited to challenging significant accounting estimates such as valuation of property,
agreeing financial statement disclosures to underlying supporting documentation,
identifying and testing journal entries, reviewing PCC meeting minutes and evaluating the
harity, internal controls.
There are inherent limitation5 in the audit procedures destribed above. The more
removed that laws and regulations are from financial transactions. the less likely it is that
we would become awère of non-compliance. Material misstatements that arise due to
fraud can be harder to detect than those that arise from erroT as they may involve
deliberate Concealment or collusion.
A further description of our respon5ibilitie5 for the audit of the financial statements is
located on the Financial Reporting Council's website at..
www.frc.org.uklaudiiorsie5ponsibilities. This description forms part of our auditor's report.
Use of our report
Th15 report is made solely to the PCC members, as a body, in accordance Paft 4 of the
charities (Accounts and Reports) Qegulations 2008. Our audit work has been undertaken
sothat we might state tothe PCC members. thosematterswe are required to state tothem
in an auditor's report and for no oiher purp05e. To the fullest extent permitted by law, we
do not accept or assume responsibility to anyone other than the PCC and the PCC
members as a body. for our audit work, foT this report. or for the opinions we have formed.
h4cLiF a
Xelnadln Audlt Llmlted
Statutory Auditor
Chartered Accountants
Dated..
Xeinoclin Audit Limited is eligible for oppointmènt os ouditor of the PCC byvirtue of its eligibility for
appointment os ouditor ofo compony under section 7212 ofthe Componie5 Act2006.
14

Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024 

|**Income**|**Notes**|**Unrestricted**<br>**Funds £**|**Restricted**<br>**Funds £**|**End’t**<br>**Funds £**|**Total**<br>**2024**|**Unrestricted**<br>**Funds £**|**Restricted**<br>**Funds £**|**End’t Funds**<br>**£**|**Total**<br>**2023**|
|---|---|---|---|---|---|---|---|---|---|
|Donations & Legacies|2a|564,181|0|0|564,181|649,924|0|0|649,924|
|Church Activities|2b|138,767|3,877|0|142,644|126,801|5,933|0|132,734|
|Investments|2c|12,156|12,437|0|24,593|7,154|12,035|0|19,189|
|Other Income|2d|4,050|0|0|4,050|0|0|0|0|
|**Total Income**||**719,154**|**16,314**|**0**|**735,468**|**783,879**|**17,968**|**0**|**801,847**|
|**Expenditure**||||||||||
|Expenditure - church activities|3|774,154|10,309|0|784,463|749,468|12,534|0|762,002|
|**Total Expenditure**||**774,154**|**10,309**|**0**|**784,463**|**749,468**|**12,534**|**0**|**762,002**|
|Net gains/(losses) Investments||||9,407|9,407|0|0|25,397|25,397|
|**Net Income/(Expenditure)**||**-55,000**|**6,005**|**9,407**|**-39,588**|**34,411**|**5,434**|**25,397**|**65,242**|
|Transfers between funds|9|-10,000|10,000|0|0|0|0|0|0|
|**Other recognised gains/(losses)**||||||||||
|Revaluation, tangible fixed assets|5a|50,000|0|0|50,000|(4,800)|0|0|(4,800)|
|**Funds**||||||||||
|Net movement in funds||-15,000|16,005|9,407|10,412|29,611|5,434|25,397|60,442|
|Funds b/fwd at 1/1/2024||4,222,039|78,544|358,367|4,658,950|4,192,428|73,110|332,970|4,598,508|
|**Funds c/fwd at 31/12/2024**||**4,207,039**|**94,549**|**367,774**|**4,669,362**|**4,222,039**|**78,544**|**358,367**|**4,658,950**|
|All income arises from the continuing activities of the PCC.  The PCC had no recognised gains or losses other than those dealt with in the Statement of<br>Financial Activities. The notes on pages 18-25 form part of these accounts.||||||||||



_15_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate BALANCE SHEET 

31 December 2024 

|**Fixed Assets**|**Notes**|**2024 £**|**2023 £**|
|---|---|---|---|
|Tangible fixed assets|5(a)|3,882,285|3,835,495|
|Investment assets|5(b)|367,774|358,367|
|||**4,250,059**|**4,193,862**|
|**Current Assets**||||
|Debtors|6|136,414|116,390|
|Cash at bank and in-hand||344,720|378,990|
|||**481,134**|**495,380**|
|**Liabilities: Amounts falling due within one year**||||
|Creditors|7|(61,831)|(30,292)|
|**Net current assets**||**419,303**|**465,088**|
|**Liabilities: Amounts falling due after more than one year**||||
|Creditors||0|0|
|**Net Assets**||**4,669,362**|**4,658,950**|
|**Funds**||||
|Unrestricted reserves|9|4,207,039|4,222,039|
|Restricted reserves|9|94,549|78,544|
|Endowments|9|367,774|358,367|
|**Total Funds**||**4,669,362**|**4,658,950**|



Approved by the Parochial Church Council **on 10 April 2025** and signed on its behalf by: 


**Revd Richard Wilson** Vicar 

_16_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate STATEMENT OF CASH FLOWS 

for the year ended 31 December 2024 

||**2024 £**|**2023 £**|
|---|---|---|
|**Cash (used in) / provided by operating activities**|**(42,707)**|**(22,000)**|
||||
|**Cash flows from investing activities**|||
|Interest and dividends received|24,593|19,189|
|Payments to acquire tangible fixed assets|(16,156)|(3,508)|
|Proceeds on sale of tangible fixed assets|0|0|
|Payments to acquire fixed asset investments|(10,800)|(5,000)|
|Proceeds on sale of fixed asset investments|10,800|5,000|
|**Cash (used in) / provided by operating activities**|**8,437**|**15,681**|
||||
|**Cash flows from financing activities**|||
|Interest free loans repaid|0|0|
|**Cash (used in) financing activities**|**0**|**0**|
||||
|**Net cash inflows/(outflows)**|**(34,270)**|**(6,319)**|
||||
|Cash and cash equivalents at 1 January 2024|378,990|385,309|
|**Cash and cash equivalents as at 31 December 2024**|**344,720**|**378,990**|
||||
|**Cash used in operating activities**|||
|Net income/(expenditure)|(39,588)|65,242|
|Interest and dividends received shown in investing activities|(24,593)|(19,189)|
|Depreciation|19,366|20,415|
|(Gain)/loss on disposal of tangible fixed assets|0|1,142|
|(Gain)/loss on disposal of fixed asset investments|0|0|
|Other (gains)/losses on investments|(9,407)|(25,397)|
|(Increase)/Decrease in debtors|(20,024)|(71,757)|
|(Decrease)/Increase in creditors|31,539|7,544|
|**Cash (used in) / provided by operating activities**|**(42,707)**|**(22,000)**|



_17_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

## **1. Accounting Policies** 

The Parochial Church Council is a corporate body (PCC Powers Measure 1956, Church Representation Rules 2006) and is a charity registered with the Charity Commission (number 1129140).  Its principal place of operations is: St Mary’s Parish Office, St Mary’s Church Centre, Chart Lane, Reigate, Surrey RH2 7RN. 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## **Basis of preparation** 

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). 

The financial statements have been prepared under the historical cost convention subject to the revaluation of residential properties and investments. The accounts 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 those that are informal gatherings of Church members. 

The financial statements are presented in pounds sterling rounded to the nearest £1. 

The PCC meets the definition of a public benefit entity under FRS102. 

## **Going concern** 

The trustees consider that there are no material uncertainties about the Church’s ability to continue as a going concern. 

## **Funds** 

**General funds** represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC.  Funds designated for a particular purpose by the PCC are also unrestricted. 

**Restricted funds** are those monies received by the PCC which have been given for a particular purpose. **Endowment funds** are funds, the capital of which must be maintained; use of the income arising from investment of the endowment varies according to individual trust purposes. 

## **Income** 

## **Donations and legacies** 

Donations and legacies (including collections and income tax recoverable under Gift Aid) are accounted for once the charity has entitlement to the income, it is probable the income will be received, and the amount of income receivable can be reliably measured. 

## **Other income** 

Rental income from the letting of church premises is recognised when the rental is receivable. 

## **Income from investments** 

Dividends are accounted for when receivable, interest is accrued. 

## **Gains and losses on investments** 

Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December. 

## **Grants** 

Grants relating to revenue expenditure are recognised in income in the periods in which the related costs are incurred. 

## **Expenditure** 

Expenditure is accrued as soon as a liability is incurred. Support and governance costs are included in expenditure on church activities. 

## **Church activities** 

Most mission grants are payable monthly and are accounted for in the month in respect of which they are payable.  Other mission grants are accounted for when a decision to make payment has been taken. The Diocesan parish share is accounted for when payable. 

_18_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

## **Fixed Assets** 

## _**Land and buildings and church and church centre fittings**_ 

Consecrated and benefice property is excluded from the accounts by s10 (2) (a) of the Charities Act 2011. Residential properties used by the PCC in undertaking its activities (i.e. staff housing) have been included in tangible fixed assets at their estimated market value. The Church Centre has been included at its cost at the year end. The Heath Church is also included as an asset.  No depreciation has been provided on land and buildings as the PCC has adopted a policy of maintaining properties to a standard that prolongs their lives and enhances their residual values. No value is placed on moveable church furnishings held by the churchwardens on a special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property.  All maintenance expenditure incurred during the year on consecrated or benefice buildings and on church and church centre fittings continues to be written off as expenditure in the Statement of Financial Activities (SOFA).  Fixtures and equipment costing more than £500 are capitalised and depreciated over their useful life which varies from 4 years to 40 years depending on the asset. 

## **Investments** 

Investments are valued at market value at 31 December. The Statement of Financial Activities includes the net gains and losses on revaluations and disposals throughout the year and are shown as a component of net income. 

## **Current Assets** 

Gift Aid recoverable and other debtors are included at the amount due. Prepayments are valued at the amount prepaid. Cash at bank and in hand includes cash and sums placed on deposit available on demand. 

## **Creditors and provisions** 

Creditors and provisions are recognised where the Church has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. 

## **Financial instruments** 

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **Critical accounting estimates and judgements** 

In the application of the church’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

## **2. Income** 

|**2.**<br>**Income**|||||||
|---|---|---|---|---|---|---|
||**Unrestricted**<br>**Funds £**|**Restricted**<br>**Funds £**|**Total**<br>**2024 £**|**Unrestricted**<br>**Funds £**|**Restricted**<br>**Funds £**|**Total**<br>**2023 £**|
|**(a) Donations and legacies**|||||||
|Planned giving and gifts|443,121|0|443,121|456,841|0|456,841|
|Income tax recovery (Gift<br>Aid)|102,683|0|102,683|97,126|0|97,126|
|Legacies|10,000|0|10,000|83,959|0|83,959|
|Offertories|109|0|109|572|0|572|
|Heath Church|7,716|0|7,716|7,558|0|7,558|
|Other income from donors|552|0|552|3,868|0|3,868|
||**564,181**|**0**|**564,181**|**649,924**|**0**|**649,924**|



_19_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

||**Unrestricted**<br>**Funds £**|**Restricted**<br>**Funds £**|**Total**<br>**2024 £**|**Unrestricted**<br>**Funds £**|**Restricted**<br>**Funds £**|**Total**<br>**2023 £**|
|---|---|---|---|---|---|---|
|**(b) Church activities**|||||||
|Rental Income|94,230|0|94,230|86,318|0|86,318|
|Youth Income|13,671|0|13,671|11,449|0|11,449|
|Girls Brigade Income|0|3,877|3,877|0|5,933|5,933|
|Hospitality & events|18,847|0|18,847|15,492|0|15,492|
|Sundry Income|12,019|0|12,019|13,542|0|13,542|
||**138,767**|**3,877**|**142,644**|**126,801**|**5,933**|**132,734**|
|**(c) Investments**|||||||
|Interest and dividends|**12,156**|**12,437**|**24,593**|**7,154**|**12,035**|**19,189**|
|**(d) Other Income**|||||||
|Grants|**4,050**|**0**|**4,050**|**0**|**0**|**0**|
||||||||
|**Total income**|**719,154**|**16,314**|**735,468**|**783,879**|**17,968**|**801,847**|



## **3. Expenditure** 

||**Unrestricted**<br>**Funds £**|**Restricted**<br>**Funds £**|**Total**<br>**2024 £**|**Unrestricted**<br>**Funds £**|**Restricted**<br>**Funds £**|**Total**<br>**2023 £**|
|---|---|---|---|---|---|---|
|**Church activities**|||||||
|Grants (see Note 14)|||||||
|Mission Partners|50,353|0|50,353|55,223|0|55,223|
|Other mission & donations|20,930|0|20,930|25,993|0|25,993|
||**71,283**|**0**|**71,283**|**81,216**|**0**|**81,216**|
|**Other**|||||||
|Diocese - share & salary|302,805|0|302,805|270,699|0|270,699|
|Fees – weddings & funerals|5,676|0|5,676|5,182|0|5,182|
|Admin & support staff|128,521|0|128,521|127,823|0|127,823|
|Clergy expenses|5,692|0|5,692|9,491|0|9,491|
|Clergy housing|12,085|0|12,085|21,936|0|21,936|
|Music ministry|41,382|0|41,382|35,990|0|35,990|
|Youth & children's ministry|73,578|0|73,578|52,604|0|52,604|
|Girls' Brigade|0|4,122|4,122|0|6,294|6,294|
|Repairs and cleaning|22,393|5,663|28,056|22,686|5,544|28,230|
|Insurance, Church & Centre|13,203|0|13,203|12,679|0|12,679|
|Other church activities|20,842|524|21,366|27,190|0|27,190|
|Governance – Audit fees|7,598|0|7,598|7,200|0|7,200|
|Administrative|19,853|0|19,853|21,578|0|21,578|
|Utilities & other expenses|29,877|0|29,877|32,779|696|33,475|
|Depreciation|19,366|0|19,366|20,415|0|20,415|
|**Total expenditure**|**774,154**|**10,309**|**784,463**|**749,468**|**12,534**|**762,002**|



_20_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

## **4. Staff Costs** 

|**4.**<br>**Staff Costs**||||||
|---|---|---|---|---|---|
||**2024  £**|**2023 £**||**2024**|**2023**|
|Wages & Salaries|196,755|175,394|Average number of employees - full<br>time equivalent(FTE)|7|6|
|Social Security|11,045|7,680|Average no. of employees|11|9|
|Pension|4,990|4,407||||
||**212,790**|**187,481**||||



Expenses reimbursed to PCC members and payments made to third parties on their behalf in the year totalled £2,625 (2023: £5,567). These were mainly in respect of housing, travel and Internet access. These payments were received by or on behalf of 2 (2023: 3) PCC members.  No employee received employee benefits of more than £60,000 (2023 Nil). Remuneration of family members of the PCC amounted to nil (2023 £17,024) 

## **5. Fixed assets for use by the PCC** 

||**Freehold/Leasehold**<br>**Property £**|**Fixtures & Equipment**<br>**£**|**Total**<br>**£**|
|---|---|---|---|
|**(a) Tangible fixed assets**||||
|**Cost or Valuation**||||
|At 1 January 2024|3,697,661|292,522|3,990,183|
|Additions|0|16,156|16,156|
|Disposals|0|(1,505)|(1,505)|
|Revaluation of properties|50,000|0|50,000|
|**At 31 December 2024**|**3,747,661**|**307,193**|**4,054,834**|
|**Depreciation**||||
|At 1 January 2024|0|154,688|154,688|
|Charge for the year|0|19,366|19,336|
|Disposals|0|(1,505)|(1,505)|
|**At 31 December 2024**|**0**|**172,549**|**172,549**|
|**Net Book Value**||||
|**At 31 December 2024**|**3,747,661**|**134,624**|**3,882,285**|
|**At 31 December 2023**|**3,697,661**|**137,834**|**3,835,495**|



Tangible fixed assets comprise the following freehold/leasehold land and buildings held as assets by the PCC: 

## i) **63 Chart Lane (Freehold), 9 Lymden Gardens (Freehold) and Flat 11 Monks Court, Reigate (Leasehold)** 

- These properties are held in trust for the PCC of St Mary’s and the full maintenance and insurance costs are the responsibility of the PCC. 

## ii) **3 St Clair Close, Reigate (Freehold)** 

The parish has a 20% interest in this property, the remaining 80% being owned by the diocese. The PCC is responsible for 20% of the maintenance and insurance costs. 

## iii) **Church Centre, Chart Lane, Reigate (Freehold)** 

The land and buildings are owned by the PCC who have responsibility for maintaining and insuring the property. 

## iv) **Heath Church, Flanchford Road, Reigate (Freehold)** 

The land and buildings are owned by the PCC who have responsibility for maintaining and insuring the property. 

_21_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

The Heath Church has been included in the accounts since 2023. It is not valued in these accounts as no cost records are available. Any original costs are unlikely to be material or would already have been depreciated to an immaterial carrying value. 

Residential properties are included in the Balance Sheet at their estimated market value using a property valuation website. The Church Centre is included at cost. 

|<br>valuation website. The Church Centre is included at cost.|<br>valuation website. The Church Centre is included at cost.|<br>valuation website. The Church Centre is included at cost.|
|---|---|---|
||||
|**(b) Investments**|||
|**Listed Investments**|**2024 £**|**2023 £**|
|Market value at 1stJanuary|358,367|332,970|
|Additions|10,800|5,000|
|Disposals|(10,240)|(4,662)|
|Unrealised gains (losses) in the year|8,847|25,059|
|Market value at 31stDecember|**367,774**|**358,367**|
|Historic cost|261,773|258,365|



The historical cost of the Graveyard and Parish Trust investments is not known and cannot be traced as these investments were donated or acquired many years ago. The historical cost of the Caffyn-Tees Endowment Investments is £261,773 

## **6. Debtors** 

|**6.**<br>**Debtors**|||
|---|---|---|
||**2024  £**|**2023  £**|
|Income Tax recoverable|29,113|29,609|
|Other debtors|96,288|81,623|
|Prepayments|11,013|5,158|
||**136,414**|**116,390**|



## **7. Liabilities:** amounts falling due within one year 

|**7.**<br>**Liabilities:**amounts falling due within one year|||
|---|---|---|
||**2024  £**|**2023  £**|
|Other creditors|48,516|29,767|
|Deferred Income (Events and venue bookings paid in advance)|13,315|525|
||**61,831**|**30,292**|



## **8. Analysis of net assets by fund** 

||**Unrestricted**<br>**funds £**|**Restricted**<br>**funds £**|**Endowment**<br>**funds £**|**2024**<br>**£**|**Unrestricted**<br>**funds £**|**Restricted**<br>**funds £**|**Endowment**<br>**funds £**|**2023**<br>**£**|
|---|---|---|---|---|---|---|---|---|
|Fixed<br>Assets|3,882,285|0|367,774|4,250,059|3,835,495|0|358,367|4,193,862|
|Current<br>Assets|386,585|94,549|0|481,134|416,836|78,544|0|495,380|
|Current<br>Liabilities|(61,831)|0|0|(61,831)|(30,292)|0|0|(30,292)|
||**4,207,039**|**94,549**|**367,774**|**4,669,362**|**4,222,039**|**78,544**|**358,367**|**4,660,950**|



## **9. Analysis of fund movements during the year** 

|**2024**|**Bal b/fwd**<br>**1 Jan 2024 £**|**Income**<br>**£**|**Expenditure**<br>**£**|**Other gains /**<br>**(losses) £**|**Transfers**<br>**£**|**31 December**<br>**2024**|
|---|---|---|---|---|---|---|
|**Unrestricted reserves**|||||||
|General Fund|315,014|719,154|(754,788)|0|(26,156)|253,224|
|Capital|3,835,495|0|(19,366)|50,000|16,156|3,882,285|



_22_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

|**2024**|**Bal b/fwd**<br>**1 Jan 2024 £**|**Income**<br>**£**|**Expenditure**<br>**£**|**Other gains /**<br>**(losses) £**|**Transfers**<br>**£**|**31 December**<br>**2024**|
|---|---|---|---|---|---|---|
|Church Centre|50,000|0|0|0|0|50,000|
|Quinquennial|21,530|0|0|0|0|21,530|
||**4,222,039**|**719,154**|**(774,154)**|**50,000**|**(10,000)**|**4,207,039**|
|**Restricted reserves**|||||||
|Graveyard Trusts|3,558|101|0|0|0|3,659|
|Parish Trusts|7,419|296|0|0|0|7,715|
|Caffyn-Tees - St Marys|55,811|12,040|(5,663)|0|0|62,188|
|Caffyn-Tees - Heath|1,384|0|0|0|0|1,384|
|Easter Project|5,354|0|(524)|0|0|4,830|
|The Heath Church|0|0|0|0|10,000|10,000|
|Girls Brigade|5,018|3,877|(4,122)|0|0|4,773|
||**78,544**|**16,314**|**(10,309)**|**0**|**10,000**|**94,549**|
|**Endowments**|||||||
|Graveyard Trusts|4,353|0|0|98|0|4,451|
|Parish Trusts|10,625|0|0|240|0|10,865|
|Caffyn-Tees – St Marys|343,389|0|0|9,069|0|352,458|
||**358,367**|**0**|**0**|**9,407**|**0**|**367,774**|
|**Total Funds**|**4,658,950**|**735,468**|**(784,463)**|**59,407**|**0**|**4,669,362**|



|**2023**|**Bal b/fwd**<br>**1 Jan 2023 £**|**Income**<br>**£**|**Expenditure**<br>**£**|**Other gains /**<br>**(losses) £**|**Transfers**<br>**£**|**31 December**<br>**2023**|
|---|---|---|---|---|---|---|
|**Unrestricted reserves**|||||||
|General Fund|262,554|783,879|(729,053)|0|(2,366)|315,014|
|Capital|3,858,344|0|(20,415)|(4,800)|2,366|3,835,495|
|Church Centre|50,000|0|0|0|0|50,000|
|Quinquennial|21,530|0|0|0|0|21,530|
||**4,192,428**|**783,879**|**(749,468)**|**(4,800)**|**0**|**4,222,039**|
|**Restricted reserves**|||||||
|Graveyard Trusts|3.472|86|0|0|0|3,558|
|Parish Trusts|7,127|292|0|0|0|7,419|
|Caffyn-Tees - St Marys|49,701|11,654|(5,544)|0|0|55,811|
|Caffyn-Tees - Heath|2,080|0|(696)|0|0|1,384|
|Easter Project|5,354|0|0|0|0|5,354|
|Girls Brigade|5,376|5,936|(6,294)|0|0|5,018|
||**73,110**|**17,968**|**(12,534)**|**0**|**0**|**78,544**|
|**Endowments**|||||||
|Graveyard Trusts|3,986|0|0|367|0|4,353|
|Parish Trusts|9,731|0|0|894|0|10,625|
|Caffyn-Tees – St Marys|319,253|0|0|24,136|0|343,389|
||**332,970**|**0**|**0**|**25,397**|**0**|**358,367**|
|**Total Funds**|**4,598,508**|**801,847**|**(762,002)**|**20,597**|**0**|**4,658,950**|



_23_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

## **Unrestricted Funds comprise:** 

- (a) **General Reserve** , which contains that part of the PCC’s income which is freely available for spending. 

- (b) **Capital Reserve** , which represents the value of invested income (principally in freehold and leasehold properties) which would become available for spending when realised. 

- (c) **Church Centre Reserve** , an unrestricted reserve, which comprises income set aside by the PCC to meet future refurbishment costs relating to the church centre. 

- (d) **Quinquennial Reserve** , which contains income set aside by the PCC to meet the costs of repairs to the church buildings identified by the Quinquennial (five-yearly) inspection. 

## **Restricted Funds comprise:** 

- (a) **Graveyard Trusts** , which contain income from endowment funds to maintain named graves. 

- (b) **Parish Trusts** , which contain income from endowment funds for specific purposes e.g. care of the poor in the Parish. 

- (c) **Easter Project Fund** , which contains gifts restricted for use in this community project. 

- (d) **Caffyn-Tees Fund (St Mary's),** which contains income from the endowment fund to be used to cover expenditure relating to the fabric of St Mary's church, maintenance of the organ and upkeep of family graves. 

- (e) **Caffyn-Tees Fund (Heath),** which contains a legacy which can only be used for Heath Church general purposes. 

- (f) **Girls’ Brigade Reserve** , which contains gifts restricted for use by the Girls’ Brigade. 

- (g) **The Heath Church,** which contains a legacy which can only be used for Heath Church 

## **Endowment Funds comprise:** 

- (a) **The Graveyard Trusts** , which are permanent endowments, the income from which is used for maintenance of named graves. 

- (b) **The Parish Trusts** , which are permanent endowments, the income from which is used for specified purposes e.g. for the care of the poor in the Parish. 

- (c) **Caffyn-Tees Trust (St Mary's),** which is a permanent endowment, the income from which is to be used to cover expenditure relating to the fabric of St Mary's church, maintenance of the organ and upkeep of family graves. 

No transfers were made from the General Fund to the Church Centre Reserve. There has been a movement of £16,156 from the General Fund to the Capital Reserve representing capital expenditure described above.  There has been a transfer of £10,000 from the General Fund to a new restricted fund for the Heath Church. This transfer represents a legacy specifically bequeathed to the Heath Church 

## **10. Taxation** 

The charity is a registered charity and as such its income and gains falling within Sections 471 to 489 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 are exempt from corporation tax to the extent that they are applied to its charitable objects. 

## **11. Related Party Transactions** 

PCC members are considered to be related parties and the total employee benefits received by them are set out in note 4 above. PCC members are not remunerated, except as detailed in Note 4. 

During the year, donations totalling £69,957 (2023: £71,704) were received from PCC members. 

Trustees and individual liability insurance is covered under the Public Liability section of our church insurance. 

A grant of £13,827 (2023 £13,827) was given to P & A Guiness, a relative of PCC member E. Lyth. 

## **12. Operating leases** 

The total future minimum lease payments under non-cancellable operating leases are payable: 

||**2024 £**|**2023 £**|
|---|---|---|
|Within one year|1,320|1,320|



_24_ 



Docusign Envelope ID: EF4EFA9A-5064-4310-9A07-A2BFE4C462FF 

## Parochial Church Council of **St Mary’s Church** Reigate NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 

|After one but within five years|660|1,860|
|---|---|---|
||**1,980**|**3,180**|
|The operating lease charges for the year were:|||
|Hire of plant and machinery|1,320|1,320|



## **13. Defined contribution scheme** 

The charity operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the charity in an independently administered fund.  The pension cost and charge represent contributions payable by the charity to the fund or to separate schemes in which employees are members and amounted to £4,990 (2023: £4,407). 

## **14. Mission Partner Grants** 

|**14. Mission Partner Grants**|||
|---|---|---|
||**2024  £**|**2023  £**|
|**St Mary’s Global – Mission Partners**|||
|P & J Fresard – Wycliffe Bible Translators|8,610|8,610|
|P & A Guiness – Africa Inland Mission|13,827|13,827|
|H Burningham / H.Kisakye - CMS (to August 2023)|-|4,870|
||**22,437**|**27,307**|
|**St Mary's Global – Mission and Evangelism**|||
|Tearfund|12,146|12,116|
|International Justice Ministry|8,610|8,610|
|Open Doors|9,116|8,610|
|Bible Society|329|307|
|CMS|320|267|
||**30,520**|**29,910**|
|**St Mary’s Local – Mission and Evangelism**|||
|Community Debt Advice|5,500|6,000|
|Sparkfish – Schools Youth Worker|8,457|8,939|
|St Matthew's Foodbank|164|2,251|
|St Bedes Secondary & Reigate Parish Primary Schools|2,120|3,473|
|Bishop of Southwarks Lent Fund|160|-|
|The Children’s Society|1,366|-|
|Royal British Legion|285|-|
|Barnabas|-|405|
|Welcare|-|2,638|
|Youthscape – Satellites|273|300|
|St Catherine’s Hospice|-|255|
|Other||-262|
||**18,325**|**23,999**|
||||
|**Total Mission Grants from unrestricted funds**|**71,283**|**81,216**|



## **15. Capital Commitments** 

No material capital commitments have been made in 2024 that have not been recognised in these accounts. 

_25_