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 Reve￿nd 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 orgon1￿tIOn1 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 fo￿ard. 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 fO￿ard 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