The Parochiol Chur¢h Council The Church of St. Mary the Virgin. Tham• Report and Flnancr•l Stslemenls for ihe year ended 31 D•c•mb•r 2024
St Mary's Parochial Churih Coun¢ll. Thame Cont•nts P•9• Legal and adrrinistrative information Report of the Parochial Church Council Independent Examinerf5 report Statement of flnancial activities 10-11 Balance sheet 12 Notes io the accounts 12-26
5t Mary's Parochial Church Council, Th•me Legal and administrative informatlon for the year ended 31 December 2024 Reference and Admlnlstrative Oeta115 of the Charity St Mary's Parochial Church Council, Thame (registered charity number 11293731 is responsible for the day-to-day administration of the assets and the church of St, Mary the Virgin. Thame. The church forms part of the Thame Valley Team Ministry in the Diocese of Oxford, and now opèrate5 as fhame Church along with B3rley Hill Church and St Catherine's Towersey. The charity's address is.. Thame Church Office Thame Barn5 Centre Church Road Thame Oxg 3A1 The charity is administered by the members of the Parochial Church Council IPCCI. However, between PCC meetings variou5 working teams operating under the overall guidance of the Chairman conduct the day-to-day business ol the parish. In particular, the PCC has delegated many of its day-to-day responsibilities to an inforrnal Joint Church Council IJCCI working together with two other parishes in the Benefice. The ICC has a Standing Committee that Tneets between main council meetin9S. The members of the PCC hold their p051tion either ex-ollicio or by election. Elected members of the PCC are appointed at the Annual Parochial Church meetin9 by a vote of those parishioners whose names are registered on the churches, electoral roll. Members of th• PCC - ex offlclo Team Rector Revend Michael Reading Team Vicar Reverend Andy Mcculloch Associate Minister Reverend Graham Choldcroft Curate Reverend Emma Endean-mills Churchwardens Oavid Brown Helena Fickling (until her death on 10th November 20241 Diocesan Synod Representative David Brown Vicki Reay David Gurney (appointed 23104120241 PCC Minute Secretary Jackie Hurst
St Marfs P•ro¢hi•l Church Council. Thame Legal and administraliv• information for th• year ended 31 December 2024 (continued) M•mb•rs of the PCC - •lectod Treasure¥ Natasha Challoner Susan Bennett Sharon Bond Linda Ferris Matthew Fearon Margaret lewson Sue Lay Rosaliè Gibson David Gurney Robert Paterson Robert Ridgway Sian Stratton Gordon Taylor (Resigned 23104120241 IAppointed 23104120241 (Appointed 23104120241 (Resigned 23104120241 (Appointed 14104120241 IResigned 23104120241 Oth•r r•l•vant orgon1tIOn1 Custodian Trustees The Diocesan Trustees (Oxlordl Limited Church House Oxford Langford Locks Kidlington OX5 1GF Independent examiners Gravita Audit Oxford LLP First Floor, Park Central, 40-41 Park End Street, Oxford, OX1 IJD Investment Advisors CCLA Investment Management Limited One Angel Lane London EC4R 3AB Bankers Barclay5 Bank plc 34 Market Squa Aylesbury HP20 ITW CAF Bank Lttt 2S Kings Hill Avenue Kings Hill West Malling Kent MEI 9 41Q
St Mary's Parochial Church Council. Thame Rèport of the Parochial Church Council for the year ended 31 Decembw 2024 The members of the Parochial Church Council submit their annual report and financial slalements for the year ended 31 December 2024. The PCC has adopted the provisions ol the Statement of Recommended Practice ISORPI 'AccoLJnting and Reponing by Charities'120151 issued by the Charity Cornmission in preparing the annual report and financial statements of the charity, the Charities Act 2011, the Charities SORP and FRS 102. Structur*. 9overn•n¢e and m•nJgement St. Mary's Parochial Church Council registered with the Charity Commission Inu mber 11293731 on 1 May 2010 under the name The Parochial Church Council of The Eccle5iaslical Parish ol St Mary The Virgin Tharne. St. Mary'5 Parochial Church Council is the charity's working name. It is a body corporate under the PCC Powers Measure 1956 and Church Representation Rules 2006. Alm and Purpos• St. Mary's Parochial Church Council IPCCI has the responsibility of assisting the Rector, the Reverend Mike Reading, and the Team Vicar, the Reverend Andy Mcculloch, in promotin9 in the ecclesiastical parish the whole mission of the Church, pastoral, evangeli5tiG social and ecumenical. ObS•¢llves and A¢ti¥iti•s The PCC is committed lo enablino a5 rnany people as possible lo worship at our church and lo become part of the worshipping community of Sl. Mary's. The PCC works closely with the Rector and Team Vicar lo decide how the services can embrace and be relevant lo all of the community ol Thame, including families and children. The 5etvices and worship put faith into practice through prayer and scripture, music and sacrament. The Trustees confirm Ihat they have complied with the duty in section 1715) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commi55ion, When planning Dur activities for 2023 the incumbent and PCC have considered the Charity Comwi55i0n'5 guidance on public benefit and been mindful of the need lo reach a5 many people as possible throughout the parish through a range of services and other activities, where there is teaching about Jesus, worship and prayer. In addition to the regular services, marriage preparation group5 and baptism preparations individually in the home and together as group5 are held frequently. Achle¥ements •nd P•rformonc• GOVERNANCE & STRUCTURÉ The new governance structure lor St Mary's, Barley Hill and Si Catherine's churches. implemented during 2023, continues lo provide an Informal Joint Church Council IICCI and a Standing Committee to manage the running and finances of the combined churches. whilst retaining the legal structures of the existing PCCS. The comljined chLJrches operate under the name 'Thame Church,. During this year we began discussions about the possibility of formally merging the three parishes, with advice and guidance from Oxford Diocese. This will have the benefit of further reducing the governance burden and significantly simplifying the financial procedures. We hope to progress this during 2025. This year we welcorned Katy Hammond as our new part-time Operations Manager, She started in November 2024 to support the clergy in the ellective planning and or9anising of church ministries and events. WORSHIP & PRAYER
Following significant changes to service patterns during 2023. this has been a year of con501idation for the 9am Holy Communion and 11 am Informal services. A review of the service pattem wa5 conducted at Easter with overall support for the new pattern. Some people slill mis5 the BCP 5ervice5, however with the reduced burden on clergy and the bringing together of the church community, rather than being spread across many services, it was felt that the new pattern should be retained. Occasional celebration evensong services were also held during the year. Weekly church attendance is typically 160 adults, 18 children and with around 20 watching online across the tr40 services. During the year there have been I I bapt15ms and birth thanksgiving512023.' 221, S weddings 12023.. 121, 17 funerals in St. Mary's12023'. 231 and 9 services at the crematorium 12023.. 71. There were also 25 committal of shes services during the year12023.. 331. A Ministry Leader for Prayer was appointed which is succe55fully promoting existing opportunities for prayer during the week and prayer rninistry at services, as well as developing new opportunities. CHILDREN & FAMILIES Hannah Smith, Children and Families Ministry Leader has continued to create more opportunities for children and families lo encounter Christ and build their faith. Initiatives like outdoor church have started to flourish as well as Eco Church events - building bug hotels in the churchyard and our involvement with the Eco Zone al Thame Carnival. Our all-age services have a150 been developed to support the church becoming a truly intergenerational community of faith, with familie5 at the cent. Our toddler group, Sparklers, continues to flourish with around 80 parenlslcarers and toddlers attending weekly. This year focus has been pul on supporting transitions e.g. al 8aptism and starting primary/secondary, as well as supporting vulnerable families. We are 50 grateful for the many volunteers who support our Children & Farnilies Ministry. YOUTH We have continued without a volunteer youth leader this year, which has prevented us from investing as much as wc would like in this ministry. We started a new Sunday morning youth group at the 11 am service, which ha5 pool of around 8 young people, bul with around 2-4 attending each week. A great team ol volunteers support the young people and we hope to join Cornerstone youth for some of their regular social/chill gatherings as well as going Dn a youth weekend away in 2025. We received a significant donation of £31,250 towards our youth work which is hoped will provide seed money for a youth worker in the future. SMALL GROUPS & PASTORAL CARE Our rnany small groups Icurrently 131 continue to provide valuable discipleship and pastoral support to a significant proportion of our tongregation. Sermon series, such as Practicing the Way. were supported by small groups using the a5SOClateé teaching malerial/videos. Leaders meet termly for encouragement, training and to facilitate communication. Thi5 year we recruited and trained a formal Pastoral Care team, under Graharn Choldcroft's leadership. This is now available to 5UPPOrt those in need, partic(Jlarly those outside of small groups. Those in local care home5 are vi51ted through our Anna Chaplain and we also run regular services.
MISSION & EVANGELISM As well as Sparklers being a key outreach to local families, our regular lunch and talk for older people ISS+1 continues to flourish, stjpporting over 60 people each month. Easter Experience welcomed around 800 children from Badey Hill and John Hampden schools to the church for a creative, interactive telling of the Easter Story. Alpha was rLJn with around l O guests in ihe summer with a mixture of people from church, on the fringe of church and outside. It 15 hoped to run courses again early in 2025. Our Curate Emma Endean-mills has supported the local air cadets squadron as chaplain providing pastoral care to cadet5 and staff. This Is done with a locus on representing the Kingdom ol God and ils values, to meet the pastoral, spiritual and moral needs of the cadets and to enable that body to practise its various faiths. We also welcorned the cadets into church lor the squadron lo celebrate their 30th Anniversary. The church co-ordinated annual events such as Music in the Park's free drop off and craft activities, supporting 76 children this year, and Carols Around The Tree enabling hundreds to gather to sing carols on Christmas Eve. Key community events at Towersey are also supported by the church including the May Festival and Church Fete. We ran a stall at the town's Christma5 Tree Light Switch-on event giving out chocolates and leallets lor Christmas services. Thi5 was an excellent opportunity to engage with the local community and successfully promoted services. The PCC allocates 10% of its general giving to support mission partners both in the UK and overseas. Each month one of these groups give5 a short updale/presentation to the 9am and 11am services. ECO CHURC We received our Bronze Eco Church Award in Oecember 2024, which recognise5 the great efforts of our EcoAction Group. Significant steps have been taken to make the culture, buildings, churchyard and purchasing more carin9 towards creation. Many more plans are in store, such as air-sovrce heat pumps for Sl Mary's. COMMUNICATIQNS The new Churchsuite and SharePoint systems have brought 5ignilicant benefits in communication. These continue to be developed/used and will be a key tool for our new Operations Manager. The new Thame Church web5Ite was officially launched and we are extremely grateful to Keith Civval for his incredible efforts in making this happen. A review of our welcome desk and leaflet are under review to ensure newcomers are welcomed well. FACILITIES The quinquennial inspection lor St Mary's was carried out this year, with a long list of jobs needing lo be done, primarily stonework repairs. This work ha5 Still to be costed, but designated fund5 should be able to cover a reasonable proportion ol these. Following the decorating of St Mary's toilets in 2023 il was hoped to develop the servery in 2024. However. this has been delayed as we reflect on wider consideration5 for catering in the church. The Barns Centre lease ran out in 2023 and is still under re-negotiation between the church, the Barns Centre Charity ancl the Town Council (who co-own the centre with the church). The delay has been caused by differences
in understanding regarding the purpose of the centre. We arè currently taking legal advice to ascertain the current position and options lor moving foard. ECUMENICAL RELATIONSHIPS Thame Church joined othef local churches to support Impact Thame's Lighten Up Party and Holiday Club which were successful. Our clergy meet with other church leaders on a monihly basis to support and encourage each other. This also led to the launch of United.Ignited, a monthly gatherin9 of all churches in Thame Iof worship, prayer and ministry. All this ministry 15 only possible with the incredible generosity of many in our community who faithfully serve and give their time and money. We are immensely grateful to all who have helped. We thanked and celebrated their effort5 Wlth them land thetr partners) at our first Volunteer Thank You event, with over 200 gathering for Pimm's and Puddir)gs. Sadly, we were laced with the sudden death of our long-standing churchwarden, Helena Fickling. Over many years Helena was a faithful mernber of the congregation ol St Mary's and latterly was a valued member of the Standing Committee of Thame Church joint Church Council. Many building improvements were overseen by Helena and her deep faith impacted her friendship5 and her Service to the church and it5 congregation5. Her funeral was attended by a packed church and we continue to m1S5 her. We give thanks lo God for all he has done and for all his provision throughout the year. Mike Reading (Team Rettorl and Andy Mcculloch (Tearn Vicar) Thame Church
Financial Rev5•w Income lor the year totalled £369.726, an increase of £116,920 over last year. There was some increase in regular giving but the Increase was 5ub5tantially due to a one-off gift to develop Youth Ministry. Thi5 donation has been allocated to a new designated fund. In addition. there was a one-off grant received from Friends of St Mary's which has now been wound up. This grant was allocated to the Restoration Fund. Expenditure of £281,619 was £48.568 higher than in 2023. This was principally due to the first full year of a fvll- tirne Children and Familie5 Ministry Leader, and a part year ol a part-time Operations Manager. The net position before investments gain5 in 2024 therefore was a surplus of £B8,107 compared with a surplus last year of £19,755. There wa5 no capital spending in 2024. Bank balances at the year-end increased from the previous year by £95,862 at £227.934. The PCC ha5 a reserves policy of seeking to hold in its Unre5lricted Fund a continuing minimum of 3 month5, running costs including salary and expenses. At 31 Il December 2024, the balance on the Unre5tricied Fund was £69,376, equivalent t¢ around 3 months running costs. St•t•m¢nt of Tru5teei' R•sponsSbSlItl for the year •nded 31 Oec•mb•r 2024 Charity law require5 the Trustees to prepare accounts lor each financial year which give a true and lair view of the state of affairs of the Trust and ol the surplu5 or deficit ol the Trust lor that period. In preparing those accounts, the Trustees are reqLJired lo., select suitable accounting policies and apply them consistently,. makejudgement5 and estimates that are reasonable and prudent., slate whether applicable accounting standards and slalements of recornmended practice have been followed, subject to any departures disclosed and explained in the finan¢ia15tatements,' and prepare the accounts on the going-concern basis unless it is inappropriate to presume that the Trust will continue in operational existence. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position ol the Trust and to enable them to ensure that the Account5 comply with the Charities Act 2011 (the 2011 Acll. They are also responsible lor safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection ol fraud and other irre9ularilies. Thi5 report wa approv by the PCC on 2025 and signed on its behalf by.. M.D. Reading (Trusteel
St Mary's Parochial Church Councll. Thame Ind•pendent Examiners. Rèport to St Mary's Parochial Church Council I report to the trustees on my examination ol the accoun15 of St Matys Thame Parochial Church Council (the Trust) for the year ended 31 December 2024, which are set out on pagès 10 to 26. R¢sponslbliitl•s and basis olreport As the trustees of the charity, you are responsible for the preparation of the accounts in accordance wilh the requirements of the Charities Act 20111'the Act'l. I report in respect ol my examination ol the charily's accounts carried out under Section 145 01 the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Comrnission under section 14515llbl ol the 2011 Act. Ind*p•ndent •xomlner's Stotement Since the cornpany's gross income exceeded E2SO,000 your examiner must be a rnember of a body listed in section 145 of ihe 2011 Act. I confirm that l am qualified to undertake the examination because l am a member ol the Institute ol Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. 111 accountin9 reco¥ds were not kept in respect of the Trust as required by section 130 01 the Act,. or 121 the accounts do not accord with Ihose records,. or 131 the accounts éo not comply with the applicable requirements concerning the form and content of accounts Set out in the Charities IAccounts and Report51 Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examiration lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Date.. .1.5...Q.5.25....... Peter Foley. ACA Gravita Audit Oxford LLP, Park Central, 40-41 Park Encl Bridge Street, Oxford, OX1 1JD
St Mary's Parochlal Chur¢h Coun¢il. Thame Ststem•nt of Financial Activities for the year ended 31 December 2024 2024 Totsl 2023 Total Unrestrlcted Restritted Endowment Not• Funds Funds Fund5 Funds Funds Income from: Donations and legacies Charitable activities Investments 291,732 62,937 4,787 296,519 62,937 218,537 28,548 Totsl Expendltur• on: Raising funds Church Activities 2a!Alg 221QL1 Tot•1 N•t Incom• b•fore g•ins and losses •n Investmènts Net gains on investments Net income/lexpenditur•) Transfers between funds 83,669 4,438 88,107 19,755 14 34,645 83,669 4,438 3,963 92,070 Net mov•m•nt In fund$ 8alance brought fomard at I january 2024 83.669 4,438 3,963 92,070 34,645 14 Balance carried forward at 31 Docember 2024
St Mary's P•rochial Church Council Thame ststement of FSnan¢ial Activitie5 for the year ended 31 Decembèr 2024 2023 Tolal Unr•strid•d Funds Raslricted Endowment Fub)ds Note Fund5 Fund5 Prlor Y•ar Income from: Oonations and legacies Charitable activities Investment5 203,486 40.024 3,575 207,061 40,024 Tot•1 Exp•ndltur• on: Rai51ng funds Charitable Activities Total •xp•ndltur• Net Incom• befor• gains and1055es on Investm•nts Net gains on investmen15 Net Incom•llexpenditur•) Transfer5 between funds 16,172 3,583 19,755 11 16,172 3,583 14,890 34,645 N•t mov•ment In lunds Balance brought fOard at 1 January 2023 16,172 3,583 14,B90 34,645 89 Balan¢e cjrried fonyard at 31 December 2023
St Marfs Parochial Church Council, Thame Balance Sheet as at 31 Oec•mbff 2024 2024 2023 Nol•s Flxed assets Tangible assets Investments 10 11 137,419 143,586 314.522 316,726 Currant aM¢ts Debtors Short term deposits Cash at bank and in hand 12 13 5,707 6,743 55,467 233,641 138,815 Credltors: amounts f•lllng du• wlthln one yur 15 Net (urrent assets N•t •ss•ts Fund% Unreslricled lund5 Unrestricted Designated funds Restricted funds Endowment (Capital) funds 69,376 212,267 74,861 65,411 132,563 70,423 19 19 11 Totsl fvnds The financial statements were approved and authorised for issue by the PCC on their behalf by. 2025 and signed on Natasha Challoner The note5 on pages 13 to 26 form an integral part of these financial statements
St Mary's Paro¢hial Chur¢h Councll. Thame Notes to the financial stat•m•nts for the year •nd4d 31 December 2024 ACCOUNTING POLICIES A(¢ounting <onvÈntlon The linanci01 statement5 are prepared under the historical cost convention. with the exception ol investments which are included at market value. The financial statements have been prepared in accordance with the Statement ol Recommended Practice ISORPI, 'Accounting and Reporting by Charities. revised 201 S and applicable accounting standards. Fund a<counting General funés are unrestricted funds which are available for use at the discretion of the Parochial Church Council in furtherance of its general objectives and which have not been designated for any other purposes. Designated funds comprise unrestricted fLJnds that have been set aside by the Parothial Church Council for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial slatemenls. Endowment fund5 represent those assets which musl be held permanently by the charity, principally inve51ment5, as well as long-term a55els that are expendable il required. Incorne arising on the endowment lund5 can be used in accordance with the object5 01 the charity ané is included as unrestricted income. Any capital gains or losses arising on the inveslrnents form part ol the fund. Investment management charges and legal advice relating lo any such fund are charged against the fund. Investment income and gains are allocated to the appropriate furid. Incom• All income is included in the Statement of Financial Activities ISOFAI when the charity is legally enlitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified uf an impending distribution or the legacy being receivèd. Grants, where entitlement is not conditional on the delivery ol a specific performance by the charity, are recognised when the charity become5 unconditionally entitled to the grant. Gifts in kind donated for distribution are included at valuation and recognised a5 incorne when they are distributed to the project5. Gif15 donated lor resale are included as income when they are sold. No amounts are included In the financial statements for services donated by volunteers. Investment income Is included when receivable. Resoui<es •xp•nded All expenditure is accounted for on an accwals basis and has been classified under heading5 that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated lo activities on a basis consistent with use of the resources.
St Mary's Parochial Church Council. Thame Notes to the financial statements lor the year •nd•d 31 December 2024 Icontlnued) ACCOUNTING POLICIES (CONTINUED) Tangibl• fixqd a$ts and d•pr•ciation Depre(atIOn 15 provided at rates calculated to write off the cost less resid(Jal value of each asset over ils expected useful life, as follows.. Freehold land 8uildings" Plant lor church use 33.33% straight line t¢ 1 straight line. All new acquisitions are al 25% straight line 33.33% straight line Office equipment 'No depreciation is provided on buildings as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life ol these assets cUrn11Y exceeds 50 years. so that any depreciation charges would be immaterial. It 15 the policy of the Charity to capitalise new assets costing more than £1,000. Investments Investments are slated at market value on the balance sheet dale. The SOFA includes the net gains and losses arising from revalLJations al year end ancl di5POsals during the year. Going Concern These financial statements are prepared on the going concern basis. The Trustee5 have a reasonable expectation thai the Tru51 has adequate resources to continue in operational existence lor the foreseeable future, and are not aware of any material uncertainties which may cause doubl on the charity's ability to continue as a going concern. L•¥el ol rounding The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. 1.9 Cash and cash equiv•lents Cash and cash equivalenls include cash in hand, deposits held at call with banks, other short-terT liquid investments with maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Basic financial assets Basic financial assets, which include cash and bank balances, arè initially mèasured at transaciion price including transaction costs and are subsequently carried at amortlsed interest method unless the arrangement constitutes a financing transaction, where the transaction 15 measured at the present value ol the luture receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 1.11 Basi< financial liabililies
8asic financial liabilities, including crÈditors ère initially recognisèd at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortlsed. 1.12. Judgements and estimations The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recogni5ed in the period in which the estimate is revised where the revision affects only that period, or in the period ol the revision and futurÈ peridds whÈrÉ thè revision affects both current and future periods. The trustees consider the depreciation policy to be the most significant estimate, This is based on the useful life of the a55ets (note 1.51
St Mary's Parochl•l Chur¢h Coun¢il. Thame Not•s to the financial Statements for the year •nd•d 31 December 2024 {contlnued} DONAnoNS AND LEGACIES 2024 Unr•strld•d Designated 2024 Restrlcted Totsl All Funds Regular Giving Gift Aid recovered Cash collections Sundry donations 144,726 27,711 14,736 17 144,726 33,961 16,477 101 6,250 1,741 A787 2023 Deslgn•tsd 2023 Restrlcted Totsl All Funds Unr•strict•d Regular Giving Gift Aid recovered Cash collections Sundry donations 133,620 32.989 11,926 133,620 32,989 14,037 41 455 1,656 CHARITABLE ACTIVITIE5 2024 2023 Unr•strict•d De$ign•ted Totsl All Fund* Unre5trict•d Total All Funds Funeral & churchyard Weddin9 fees Grants Inler-Parish Translers Misc. Incorne 17,924 1,675 17,333 19,546 17,924 1,675 17,333 19,546 21,699 5,424 6,667 4,809 21,699 5,424 6,667 4,809 INVESTMENTS 2024 Unr•stri(tEd Restrlcted 2023 Totsl All Unrtri¢t•d R•itrict•d Funds Total All Funds Bank interest Investment fund income 5,083 5.083 863 863
St Mary's Parochial Church Council. Thame Not•s to the lin•ncial ststments for thè y•ar ended 31 De¢mb¢r 2024 {¢ontlnued) CHURCH AcfiviTIES 2024 Unrestricted Designated R•slrSct•d 2024 Totsl All Fundi 2023 Totsl All Funds cyent year Grants (Not• 6) Direct Costs Parish share Ministry Team expenses Children and family cost5 Church running expenses Church maintenance Depreciation on plant Upkeep of churchyard Support and Gov*m•nc• Costs (Note 7) 18,200 2614 20,814 16,900 122,841 5,138 29,799 39,530 3,320 6,167 5,675 122,841 5,138 29,799 39,935 14,068 6,167 6,875 102,673 927 9,503 42,378 15,409 6,166 5,570 405 936 9,812 1.200 26fj,65 L61 2023 D•iign•tsd R•Jtrlct•d 1023 Totsl All Fundi Prlor Y••r Unreslrlcted Gr•nts INot• 6) Dlrect C05t5 Parish share Ministry Team expense5 Children and Family costs Church running expenses Church maintenance Depreciation on plant Upkeep of churchyard Support and Governan¢• Casts (Note 7) 16,900 16,900 102,673 927 9,503 37,653 5,925 6,166 5,570 102,673 927 9,503 42,378 15,409 6,166 5,570 4,725 9,484 2.1&842
st Mary's Parochial Church Council. Thamé Notes to the financial statements for the year ended 31 December 2024 (continued) & GRANTS - MISSIONARY & CHARITY GIVING 2024 2024 2023 Total All Unrestricted Funds Funds Unr•strlited Deslgn•ted Restrl¢ted Missionary societies Evangelism 16,400 2.614 19,014 14,900 &14 The above totals include the following payments over £500.. 2024 Total All Funds 2023 Unrestrict•d Fund$ Gr•nts Unre5trlct•d R•strict•d Church Mi55ionary Society Christian Solidarity Worldwide Clinic Senegal Daughters of Cambodi Impact Thame Prison Fellowship S.l.M. Stephen McGoldrick 3,700 1,500 3,700 3,700 1.100 700 3,700 3,700 1,500 3,700 3,700 1,100 700 3,700 2,650 1,400 3,850 3,850 1,000 1.000 2,650 JS.9QQ
St Mary's Parochial Chur¢h Councll. Thame Notes to the financial stat•m•nts for the year ended 31 Dec•mber 2024 (continued) SUPPORT AND GOVERNANCE COSTS 2024 2023 Support Governancè Unr•stricted Unrestrlcted Independent examination fee Office staff salarie5 Printing & stationery Office rent Victoria Mead 2,100 2,100 24,493 1.331 2,594 1,800 20,192 4,469 2,500 24,493 1,331 2,594 RELATED PARTY TRANSACTIONS No members of the Parochial Church Council received or waived any emoluments durin9 the year (previous year.. £Nill. Out of Pocket expenses have been paid to P Stratton, who is related lo S Slralton (Trusteel. Ordained members of the clergy receive their stipends éifeclly from the Church of England. Related party transactions are as lollow5'. 2024 2023 Donations made by Iru5tees Donations made by connected persons Out of pockel expenses reimbursed to trustees Out ol pocket expenses reimbursed to connected persons 13,062 1,800 1.858 798 20,087 516 Numb•r 13 Numb•r Number ol trustees making donations Number ol connected persons makin9 donations Number ol Iruslees with expense5 reimbursed Number of connected persons with expenses reimbursed STAFF COSTS 2024 Total 2023 Tolal Wages and Salaries Pension Contributions 52.563 34,048 No employee had emoluments las defined for taxation purposes) of over £60,Q(10 in the year. Salaried stall are included in the Church Workers Pension Fund.
St Mary'5 Parochial Church Council. Thame Notes to the financial statem•nts for th• year ended 31 December 2024 l<ontinued) STAFF COSTS {CONTINUEDI The average number of employees, analysed by function was: 2024 Number 2023 Number Management and administration of the charity Children and Families Ministry Leader Cleaner 10. TANGIBLE FIXED ASSETS Fr••hald Frmhold 8 Vl<torla Cl•ck•n Me•d M•adow Fr•ehold 50% Thame Barns Pl•nt for Offlce church us• •qulpment Totsl Cost or V•lu•tion At l January 2024 Additions As 31 December 2024 135,513 6,360 50,000 74,852 2,125 268,8SO D•pr•cladon At I january 2024 Charge for year 44,243 17,077 61,819 2,125 125,264 At 31 December 2024 N•t book v•lu•s At 31 December 2024 At 31 December 2023 14 8 Victoria Mead (St Mary's Curate's accommodation) and Clacken Meadow15.3 acres ol agricultural landl are capitalised at their net realisable value as at 31 December 1997, which is the deemed cost under FRS15 transitional provisions, under which the property S 1997 valuation has not been updated. The partial freehold of the Thame Barns is stated at its net initial cost119901, which is the deemed cost under FRS1 S transitional provisions. 20
St M•ry's Parochial Church Council. Thame Notes to the financial ststements for th• year ended 31 December 2024 {continued) 11. INVESTMENTS B•lance at 1 January 2024 Gain5 Qll R*1•th0n Balance at 31 Oecember 2024 All S•ints Church fvnd: 38,052 871 38,923 Chancel repalr li•blllty fund: All investment funé asse15 were held on behalf ol the parish by the Central 8oard of Finance of the Church ol England (The CBF Church of En9land Funds). The Central Board of Finance of the Church of England is a charity (No. 2487111 and a company limited by guarantee (registered in England No. 1364131. All investments are held within the United Kingdom and invested in the C8F Church of England Investment Fund, All Solnts Church Fund. The Church Hall had been built at the turn of the century at a site roughly mid-way between St. Mary'5 and what was then Thame'5 second parish church IAII Sainlsl and was shared between the two churche5. It was, however, never really a suitable location for either church's activities. With the closure ol All Saints and the transfer ol its assets lo St, Mary's, the opportunity was taken to sell the Church Hall to the Thame Players. Thame Barns wa5 re-developed as a considerably rnore convenient substilute - the Barns are adjacent to the churchyard. The Ch•n¢el R•pair Fund is to provide funds lor maintenance, repairs and restoration ol the chancel of the church. 21
st Mary's Parochial Church Council. Tham• Note5 to the financial st•tements for the year ended 31 December 2024 (continued) 12. DEBTORS 2024 Total All Funds 2023 Total All Funds Other debtors Gift Aid recoverable Prepayments 2,175 1,551 1,909 2,098 13. SHORT TERM DEPOSITS 2024 2023 Scottlsh Widows Bank (s Day) Acorn Community Bank 54,960 507 14. CASH AT BANK ANO IN HAND 2024 2023 Barclays Current Account CAF Deposit Accounts CAF Current Account CCLA 26,748 92,816 18,370 22,292 46,387 7.926 22
St Marfs Poro¢hial Church Councll. Thame Notès to the financial stat•menls lor th• y•ar •nd•d 31 DKember 2024 (continued) 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Toial All Funds 2023 Totsl All Funds Trade creditor5 Accruals Other Creditors 774 11,072 71 974 11,686 ooa 16. ANALYSIS AND RECONCILIATION OF MOVEMENTS ON NON-ENDOWMENT FUNDS 2024 D¢slgnat•d R•strlct•d 2024 Total All Fundi 2023 Total All Funds Unrestri¢t•d Income Expenditure 269,054 91,079 9,593 369,726 -lL15 (ILI fi191 252,806 Surplus before transfer5 Transfers 1,563 11,5631 Balance b/f al 1 January 2024 Balance c/f at 31 December 2024 268,3_91 Representèd by: Net Current Assets 23,227 120,997 74,861 219.085 124,811 Fixed Asset5 Detailed splits ol the movement5 Within the individual tk5ignaled and Restricted funds can be found in Notes 17 and 18. 23
St Mary's Paro¢hial Church Council. Thame Notes lo the linancial statements for the year •nd•d 31 December 2024 (contlnued) 17. FULL RECONCILIATION OF MOVEMENTS ON DESIGNATED FUNDS Wictori Mead Fund Ministry Fund R•storation Fund Youth Work 2024 Totsl 2023 Total Income 59,829 31,250 91,079 12.295 Expenditure 11,2851 18,5271 19,8121 19,4841 Surplusllcleficill befori tronsfers Transfers from/llol Unre51ricled funds 11,5631 11.5631 Balance b/f At 1 january 2024 Z89è. 13 Balance clf at 31 December 2024 125.0 2LIIfiZ AIM AND USE OF DESIGNATED FUNDS The Charity utili5e5 the following designated fund5'. R•storation Fund The aim ol the Restoration Fund is to provide a reserve of monies large enough to lund the ongoing costs of conservation and restoration lo the listed fabric ol the church ol St. Mary the Virgin, Thame. The church is owned by the Church Cornrnissioners, but its care and conservation is the responsibility of the Parochial Church Council. Church & Mlnlslry Fund The funds are to be used for one off ministry. for example - Marriage preparation material and for changes to the building that directly promote the ministry of the church, This money originated from the profits of the book shop in the church. 24
St Mary's Parochl•l Church Council. Thame Notes to th• financial statements for the year ended 31 December 2024 (continued) Youth Ministry Fund This fLJnd was creatèd in 2024 trom an anonymous donation. not restricted, but given in hope that it can be designated as seed funding for a Youth Minister il an appointfnent is made in the future, or other future youth ministry as the PCC may determine. Vlctorla Mead Fund This money 15 to be used for the upkeep and maintenance of 8 Victoria Mead (Curate's House). The funds originate from rents received from tenants who lease the house during periods of no curate occupation. 18. FULL RECONCILIATION OF MOVEMENTS ON RESTRICTED FUNDS Chncel Rep•ir Fund 2024 Totsl 2023 Totsl Salnts Fund Charity Fund Outreach Ory•n Fund Fund Income 1,057 4.406 380 3,750 9.593 8,308 Expenditure Surplus/ldelicitl Before transfers 1,057 188 IS571 3.750 4,438 3,583 Fund transfers 126 11261 Balance blf At 1 January 2024 Balance c/f At 31 December 2024 AIM AND USE OF RESTRICTED FLINDS The Charity vtilises the following restricted funds.. gon Fund The aim of the Organ Fund is to provide a reserve ol monies large enaugh to fund the ongoing costs of repair5, seNicing and restoralion/replacement lor the organ of the church of St. Mary the Virgin, Thame. Funds are raised through a charge lor the provision of organ music in wedding and luneral services. Funds are spent solely on the church organ, but expenses do not necessarily arise every year. 25
St Mary's Parochial Church Council. Thame Notes to the financial stalements for ihe year ended 31 December 2024 {continued) All Saints Fund May be used for furthering the religious and charitable purposes of the Church of England in the Parish of Thame. Chanc•1 Repalr Fund The airn of this fund is lo provide funds for maintenance, repairs and restoration of the chancel of the church and for no other purpose. Charlty and Welfare Fund To be used for the charity and welfare of communicants of the Parish of St. Mary the Virgin, Tharne. No fundraising activity is undertaken and expenses do not necessarily arise every year. Outreach Fund This fund was created in 2022 in response to & proposal by the Team Rector and approved by the PCC to develop a link with the parish of Manningtree- a district of Bradford, including financial support. This has now been moved to the charity fund. 19. ANALYSIS OF NET ASSETS 8ETWEEN FUNDS 2024 Unrestrlct•d Deiignat•d R•slrlcted 2024 Total All Funds 2023 Total All Funds Endowment Tangible Assets Investments Current Assets Creditors Falling due within One Year 46,149 91,270 137,419 177,103 233,641 143,586 173,140 138,815 177,103 33.795 121,788 78,058 26