OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-12-31-accounts

The Parochial Church Council The Church of St. Mary the Virgin, Thame

Report and Financial Statements

for the year ended 31 December 2025

St Mary’s Parochial Church Council, Thame

Contents

Page
Legal and administrative information 2 - 3
Report of the Parochial Church Council 4 – 7
Independent Examiner’s report 8
Statement of financial activities 9-10
Balance sheet 11
Notes to the accounts 12 - 25

1

St Mary’s Parochial Church Council, Thame Legal and administrative information for the year ended 31 December 2025

Reference and Administrative Details of the Charity

St Mary’s Parochial Church Council, Thame (registered charity number 1129373) 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 operates as Thame Church along with Barley Hill Church and St Catherine’s Towersey.

The charity's address is:

Thame Church Office Thame Barns Centre Church Road Thame OX9 3AJ

The charity is administered by the members of the Parochial Church Council (PCC). However, between PCC meetings various working teams operating under the overall guidance of the Chairman conduct the day-to-day business of the parish. In particular, the PCC has delegated many of its day-to-day responsibilities to an informal Joint Church Council (JCC) working together with two other parishes in the Benefice. The JCC has a Standing Committee that meets between main council meetings.

The members of the PCC hold their position either ex-officio or by election. Elected members of the PCC are appointed at the Annual Parochial Church meeting by a vote of those parishioners whose names are registered on the churches' electoral roll.

Members of the PCC - ex officio

Team Rector Reverend Michael Reading
Team Vicar Reverend Andy McCulloch
Associate Minister Reverend Heather McCulloch (Appointed 27/07/2025)
Associate Minister Reverend Graham Choldcroft
Curate Reverend Emma Endean-Mills (Resigned 17/07/2025)
Churchwardens David Brown
Sue Lay (Appointed on 29/04/2025)
Diocesan Synod Representative David Brown
Vicki Reay (Resigned 09/05/2025)
David Gurney (Resigned 26/11/2025)
PCC Minute Secretary Jackie Hurst

St Mary’s Parochial Church Council. Thame

2

Legal and administrative information for the year ended 31 December 2025 (continued)

Members of the PCC - elected

Treasurer Natasha Challoner
Sharon Bond
Linda Ferris
Matthew Fearon (Resigned 21/07/2025)
Margaret Jewson
Sue Lay
Rosalie Gibson
David Gurney (Resigned 26/11/2025)
Robert Ridgway
Sian Stratton
Graeme Parker (Appointed 29/04/2025)
Other relevant organisations
Custodian Trustees The Diocesan Trustees (Oxford) Limited
Church House Oxford
Langford Locks
Kidlington
OX5 1GF
Independent examiners Mercer Lewin
Chartered Accountants & Business Advisors
6-7 Citibase, New Barclay House
234 Botley Rd
Oxford
OX2 0HP
Investment Advisors CCLA Investment Management Limited
One Angel Lane
London
EC4R 3AB
Bankers Barclays Bank plc
34 Market Square
Aylesbury
HP20 1TW
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent ME19 4JQ

3

St Mary’s Parochial Church Council, Thame Report of the Parochial Church Council for the year ended 31 December 2025

The members of the Parochial Church Council submit their annual report and financial statements for the year ended 31 December 2025. The PCC has adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (2015) issued by the Charity Commission in preparing the annual report and financial statements of the charity, the Charities Act 2011, the Charities SORP and FRS 102.

Structure, governance and management

St. Mary’s Parochial Church Council registered with the Charity Commission (number 1129373) on 1 May 2010 under the name The Parochial Church Council of The Ecclesiastical Parish of St Mary The Virgin Thame. St. Mary’s 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.

Aim and Purpose

St. Mary’s Parochial Church Council (PCC) has the responsibility of assisting the Rector, the Reverend Mike Reading, and the Team Vicar, the Reverend Andy McCulloch, and the Associate Minister, the Reverend Heather McCulloch, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

Objectives and Activities

The PCC is committed to enabling as many people as possible to worship at our church and to become part of the worshipping community of St. Mary’s. The PCC works closely with the Rector and Team Vicar to decide how the services can embrace and be relevant to all of the community of Thame, including families and children. The services and worship put faith into practice through prayer and scripture, music and sacrament.

The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. When planning our activities for 2023 the incumbent and PCC have considered the Charity Commission’s guidance on public benefit and been mindful of the need to reach as 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 groups and baptism preparations - individually in the home and together as groups are held frequently.

Achievements and Performance

GOVERNANCE & STRUCTURE

The new governance structure for St Mary’s, Barley Hill and St Catherine’s churches, implemented during 2023, continues to provide an informal Joint Church Council (JCC) and a Standing Committee to manage the running and finances of the combined churches, whilst retaining the legal structures of the existing PCCs. The combined churches operate under the informal name ‘Thame Church’ whilst retaining legal structures and reports.

We have continued discussions to formally merge the three parishes, with advice and guidance from Oxford Diocese and the agreement of the Church Commissioners. We hope to conclude this process during 2026 and reduce the governance burden and significantly simplify the financial procedures for the 3 parishes through them becoming the integrated Parish of Thame.

4

WORSHIP & PRAYER

Weekly church attendance is typically 155 adults, 16 children and with around 18 watching online across the two services. During the year there have been 19 baptisms and birth thanksgivings (2024: 11), 8 weddings (2024: 5), 31 funerals in St. Mary’s (2024: 17) and 8 services at the crematorium (2024: 9). There were also 25 committal of ashes services during the year (2024: 25). The funerals held at St Mary’s were attended by 2,336 people during the year.

Our online Morning Prayer continues to be well supported with around 15 people attending mid-week. Prayer ministry was also introduced at the end of our 9am services. We joined in with churches from across Thame in a week of 24/7 Prayer during September as well as the quarterly United.Ignited prayer, worship and prayer ministry gatherings.

CHILDREN & FAMILIES

Our volunteers have continued to deliver weekly kids church, monthly all-age services, weekly toddler group Sparklers (with around 80 parents/carers and toddlers) and regular assemblies at Barley Hill School.

The position of Children and Families Ministry Leader was being supported by a grant from Oxford Diocese on a decreasing scale over 3-years while funds were raised from the congregation. After 2 years however, despite new regular giving, due to some regular givers moving away or dying, as well as inflation, our overall income did not increase in real terms. It was therefore necessary to make this position redundant at the end of 2025.

YOUTH

We have continued without a volunteer youth leader this year, with Heather bringing a focus to this ministry since joining in July. We paused our Sunday morning youth group at the 11am service, which was only attracting 2-4 young people each week. We instead started an evening youth group, Elevate Youth, which has around 9 young people, 3 of whom are hoping to be baptised early in 2026. A great team of volunteers support the young people and we join Cornerstone youth (another church within Thame) for some of their regular social/chill gatherings. We will also join them for a youth weekend away in 2026 and we hope to organise a mission trip for 2027.

SMALL GROUPS & PASTORAL CARE

Our many small groups (currently 12) continue to provide valuable discipleship and pastoral support to a significant proportion of our congregation. Sermon series, such as the Practicing the Way disciplines of Generosity and Solitude, were supported by small groups using the associated teaching material/videos. Leaders meet termly for encouragement, training and to facilitate communication.

The more formal organisation of Pastoral Care is ongoing and being headed up by Heather and Graham. This year Graham trialled a Grief Café to support people who have been bereaved. This as well as Grave Talk (an opportunity to consider death, dying and funeral arrangements) are planned for 2026. Those in local care homes are visited through our Anna Chaplain and we also run regular services at two local care homes and a retirement estate.

MISSION & EVANGELISM

As well as Sparklers being a key outreach to local families, our regular lunch and talk for older people (55+) continues to flourish, supporting over 60 people each month.

Easter Experience welcomed around 450 children from Barley Hill and John Hampden schools to the church for a creative, interactive telling of the Easter Story.

5

The church co-ordinated annual events such as Music in the Park’s free drop off and craft activities, and supported 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 Christmas Tree Light Switch-On event giving out chocolates and leaflets for Christmas services. This 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 gives a short update/presentation to the 9am and 11am services.

ECO CHURCH

Having received our Bronze Eco Church Award at the end of 2024 our EcoAction Group continues to focus on taking steps to make the culture, buildings, churchyard and purchasing more caring towards creation. Significant work has been put towards moving to an air-source heat pump for heating St Mary’s.

COMMUNICATIONS

With the help of one of our young adults we launched an Instagram account. This has significantly increased our social media presence, helping draw younger adults to services and increase people’s awareness of what the church does and is. Our systems and processes for communicating with church building hirers, including weddings and funerals, have been improved significantly. Our Operations Manager has overseen these as well as developing our printed material, including a new Welcome Leaflet and Marriage Booklet.

FACILITIES

We engaged our architect and a quantity surveyor to produce a cost plan for a phased approach to the quinquennial works in readiness for fundraising in 2026. We also commissioned a report on replacing the heating system, which has concluded that an air source heat pump is the best approach, coupled ideally with solar panels.

Negotiations of the expired lease for The Barns Centre, between the church, the Barns Centre Charity and the Town Council (who co-own the centre with the church) are ongoing.

ECUMENICAL RELATIONSHIPS

Thame Church joined other local churches to support Impact Thame’s Lighten Up Party and Holiday Club which were successful. We have combined efforts with Cornerstone Church for our youth. The United.Ignited quarterly gatherings of all churches in Thame for worship, prayer and ministry have also continued, with all 7 churches being represented.

All this ministry is 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 give thanks to God for all he has done and for all his provision throughout the year.

Mike Reading (Team Rector), Andy McCulloch (Team Vicar) and Heather McCulloch (Associate Minister) Thame Church

6

Financial Review

Income for the year totalled £337,766, a decrease of £31,960 over last year. There was some increase in regular giving but the decrease was substantially due to a one-off gift to develop Youth Ministry in 2024. In addition, in 2024 there was a one-off grant received from Friends of St Mary’s which has now been wound up.

Expenditure of £332,717 was £51,098 higher than in 2024. This was principally due to the first full year of a parttime Operations Manager.

The net position before investments losses in 2025 therefore was a surplus of £5,409 compared with a surplus last year of £88,107.

There was no capital spending in 2025.

Bank balances at the year-end increased from the previous year by £13,942 at £241,876.

The PCC has a reserves policy of seeking to hold in its Unrestricted Fund a continuing minimum of 3 months’ running costs including salary and expenses. At 31[st] December 2025, the balance on the Unrestricted Fund was £47,908, equivalent to around 1 & 3/4 months running costs.

Statement of Trustees’ Responsibilities for the year ended 31 December 2025

Charity law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Trust and of the surplus or deficit of the Trust for that period. In preparing those accounts, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the Accounts comply with the Charities Act 2011 (the 2011 Act). They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the PCC on ................................ 2026 and signed on its behalf by:

.......................................................... M.D. Reading (Trustee)

7

St Mary’s Parochial Church Council, Thame Independent Examiners’ Report to St Mary’s Parochial Church Council

I report to the trustees on my examination of the financial statements of St Mary’s Thame Parochial Church Council (“the charity”) for the year ended 31 December 2025.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011(‘the Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

…………………………………………..

Date: ………..………………..

A Churchill Stone FCA DChA Mercer Lewin Ltd 6-7 Citibase New Barclay House 234 Botley Rd Oxford OX2 0HP

8

St Mary’s Parochial Church Council, Thame Statement of Financial Activities for the year ended 31 December 2025

Unrestricted
Note
Funds
£
Income from:
Donations and legacies
2
239,779
Charitable activities
3
71,100
Investments
4
6,431
Total
317,310
Expenditure on:
Raising funds
-
Church Activities
5
314,568
Total
314,568
Net income before gains
and losses on
investments
2,742
Net (losses)/gains on
investments
11
-
Net
income/(expenditure)
2,742
Transfers between funds
-
Net movement in funds
2,742
Balance brought forward
at 1 January 2025
281,643
Balance carried forward
at 31 December 2025
284,385		 Restricted Endowment
Funds
Funds
£
£
15,535
-
-
-
4,921
-
20,456
-
-
-
18,149
-
18,149
-
2,307
-
-
(7,081)
2,307
(7,081)
-
-
2,307
(7,081)
74,861
177,103
77,168
170,022		 Restricted Endowment
Funds
Funds
£
£
15,535
-
-
-
4,921
-
20,456
-
-
-
18,149
-
18,149
-
2,307
-
-
(7,081)
2,307
(7,081)
-
-
2,307
(7,081)
74,861
177,103
77,168
170,022		 2025
Total
Funds
£
255,314
71,100
11,352
337,766

-
332,717
332,717
5,049
(7,081)

(2,032)
-
(2,032)
533,607
531,575		 2024
Total
Funds
£
296,519
62,937
10,270
369,726
-
281,619
281,619
88,107
3,963
92,070
-
92,070
441,537
533,607




St Mary’s Parochial Church Council, Thame Statement of Financial Activities for the year ended 31 December 2025

Unrestricted
Note
Funds
Prior Year
£
Income from:
Donations and legacies
2
291,732
Charitable activities
3
62,937
Investments
4
5,464
Total
360,133
Expenditure on:
Raising funds
-
Charitable Activities
5
276,464
Total expenditure
276,464
Net income before gains
and losses on
investments
83,669
Net gains on investments
11
-
Net
income/(expenditure)
83,669
Transfers between funds
-
Net movement in funds
83,669
Balance brought forward
at 1 January 2024
197,974
Balance carried forward
at 31 December 2024
281,643		 Restricted
Endowment
Funds
Funds
£
£
4,787
-
-
-
4,806
-
9,593
-
-
-
5,155
-
5,155
-
4,438
-
-
3,963

4,438
3,963
-
-
4,438
3,963
70,423
173,140
74,861
177,103		 2024
Total
Funds
£
296,519
62,937
10,270
369,726
-
281,619
281,619
88,107
3,963
92,070
-
92,070
441,537
533,607

10

St Mary’s Parochial Church Council, Thame Balance Sheet

as at 31 December 2025

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
13
Creditors: amounts falling due within
one year
14
Net current assets
Provisions
15
Net assets
Funds
Unrestricted funds
19
Unrestricted Designated funds
19
Restricted funds
19
Endowment (Capital) funds
11
Total funds		 2025
£

11,002
241,876
252,878
(19,701)


£

133,376
170,022
303,398
233,177
(5,000)
531,575
47,908
236,477
77,168
170,022
531,575		 2024
£

5,707
227,934
233,641
(14,556)
 £
137,419
177,103
314,522
219,085

-
533,607
69,376
212,267
74,861
177,103
533,607

The financial statements were approved and authorised for issue by the PCC on ........................ 2026 and signed on their behalf by:

........................................................... Natasha Challoner

The notes on pages 12 to 25 form an integral part of these financial statements

11

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2025

1. ACCOUNTING POLICIES

1.1. Accounting convention

The financial statements are prepared under the historical cost convention, with the exception of investments which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' revised 2019 and applicable accounting standards.

1.2. Fund accounting

General funds 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 funds that have been set aside by the Parochial Church Council for specific 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 statements.

Endowment funds represent those assets which must be held permanently by the charity, principally investments, as well as long-term assets that are expendable if required. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to any such fund are charged against the fund.

Investment income and gains are allocated to the appropriate fund.

1.3. Income

All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income, and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.

Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for 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.

1.4. Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources.

12

St Mary’s Parochial Church Council, Thame Notes to the financial statements

for the year ended 31 December 2025 (continued)

1. ACCOUNTING POLICIES (CONTINUED)

1.5. Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Freehold land - Nil Buildings* -Nil Plant for church use - 33.33% straight line to 10% straight line. All new acquisitions are at 25% straight line Office equipment - 33.33% straight line

*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 of these assets currently exceeds 50 years, so that any depreciation charges would be immaterial.

It is the policy of the Charity to capitalise new assets costing more than £1,000.

1.6. Investments

Investments are stated at market value on the balance sheet date. The SOFA includes the net gains and losses arising from revaluations at year end and disposals during the year.

1.7. Going concern

These financial statements are prepared on the going concern basis. The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future, and are not aware of any material uncertainties which may cause doubt on the charity's ability to continue as a going concern.

1.8. Level of 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 equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

13

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2025 (continued)

1.10 Basic financial assets

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.11 Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised 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 amortised.

1.12. Judgements and estimations

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. The trustees consider the depreciation policy to be the most significant estimate. This is based on the useful life of the assets (note 1.5)

14

St Mary’s Parochial Church Council, Thame Notes to the financial statements

for the year ended 31 December 2025 (continued)

2. DONATIONS AND LEGACIES

2025 2025
Unrestricted Designated Restricted Total All Funds
£ £ £ £
Regular Giving 148,598 - - 148,598
Gift Aid recovered 36,290 - - 36,290
Cash collections 14,501 - - 14,501
Sundry donations 17,839 22,551 15,535 55,925
217,228 22,551 15,535 255,314
2024 2024
Unrestricted Designated Restricted Total All Funds
£ £ £ £
Regular Giving 144,726 - - 144,726
Gift Aid recovered 27,711 6,250 - 33,961
Cash collections 14,736 - 1,741 16,477
Sundry donations 17,045 81,264 3,046 101,355
291,732 87,514 4,787 296,519

3. CHARITABLE ACTIVITIES

2025
2024
Unrestricted
£
Designated
£
Total All Funds
£
Unrestricted
£
Designated
£
Funeral & churchyard
23,794
-
23,794
17,924
-
Wedding fees
4,853
-
4,853
1,675
-
Grants
9,667
-
9,667
17,333
-
Inter-Parish Transfers
22,754
-
22,754
19,546
-
Misc. Income
1,763
8,269
10,032
2,894
3,565
62,831
8,269
71,100
59,372
3,565		 Total All Funds
£
17,924
1,675
17,333
19,546
6,459
62,937

4. INVESTMENTS


Unrestricted
£
Restricted
£
Bank interest
6,180
-
Investment fund
income
251
4,921
6,431
4,921		 2025
2024
Total All
Funds
£
Unrestricted
£
Restricted
£
6,180
5,083
-
5,172
381
4,806
11,352
5,464
4,806		 Total All
Funds
£
5,083
5,187
10,270

15

St Mary’s Parochial Church Council, Thame Notes to the financial statements

for the year ended 31 December 2025 (continued)

5. CHURCH ACTIVITIES
2025 2025 2024
Current year Unrestricted Designated Restricted Total All Total All
Funds Funds
£ £ £ £ £
Grants (Note 6) 15,740 - 12,335 28,075 20,814
Direct Costs
Parish share 132,812 - - 132,812 122,841
Ministry Team expenses 6,923 - - 6,923 5,138
Children and family costs 26,497 - - 26,497 29,799
Church running expenses 43,015 676 25 43,716 39,935
Church maintenance 10,416 7,565 815 18,796 14,068
Depreciation on plant 4,043 - - 4,043 6,167
Upkeep of churchyard 9,777 - 2,006
 11,783
 6,875
Support and Governance
Costs (Note 7) 53,735 3,369 2,968 60,072 35,982
302,958 11,610 18,149 332,717 281,619
2024 2024
Prior Year Unrestricted Designated Restricted Total All
Funds
£ £ £ £
Grants (Note 6) 18,200 - 2614 20,814
Direct Costs
Parish share 122,841 - - 122,841
Ministry Team expenses 5,138 - - 5,138
Children and Family costs 29,799 - - 29,799
Church running expenses 39,530 - 405 39,935
Church maintenance 3,320 9,812 936 14,068
Depreciation on plant 6,167 - - 6,167
Upkeep of churchyard 5,675 - 1,200
 6,875
Support and Governance
Costs (Note 7) 35,982 - - 35,982
266,652 9,812 5,155 281,619

16

St Mary’s Parochial Church Council, Thame Notes to the financial statements

for the year ended 31 December 2025 (continued)

6. GRANTS - MISSIONARY & CHARITY GIVING

2025 2025 2024
Total All Total All
Unrestricted Designated Restricted Funds Funds
£ £ £ £ £
Missionary societies Overseas 13,940 - 12,335 26,275 19,014
Missionary societies (UK) 1,800 - - 1,800 1,800
15,740 - 12,335 28,075 20,814

The above totals include the following payments over £500:

2025 2024
Grants Unrestricted Restricted Total All Total All
Funds Funds
£ £ £ £
Church Missionary Society 3,600 - 3,600 3,700
Christian Solidarity Worldwide 500 - 500 1,500
Clinic Senegal 3,600 - 3,600 3,700
Daughters of Cambodia 3,600 - 3,600 3,700
Impact Thame 1,300 - 1,300 1,100
Prison Fellowship 500 - 500 700
Red Kite Family Centre - 803 803 705
S.I.M. 3,600 - 3,600 3,700
Spurgeons - 803 803 -
Stephen McGoldrick - 9,625 9,625 500
The Children’s Society - - - 705
Toybox - 803 803 705
16,700 12,034 28,734 20,715

Note: £1,000 was realised from a prior year provision.

17

St Mary’s Parochial Church Council, Thame Notes to the financial statements

for the year ended 31 December 2025 (continued)

7. SUPPORT AND GOVERNANCE COSTS

2025

Unrestricted
Designated
Restricted
£
£
£
Independent examination fee
540
-
-
Office staff salaries
43,890
-
-
Printing & stationery
2,111
-
-
Legal Fees
-
-
2,968
Office Rent
2,625
-
-
Victoria Mead
4,569
3,369
-
53,735
3,369
2,968		 2025
2024
Total All
Funds
Total All
Funds
£
£
540
2,100
43,890
24,493
2,111
1,331
2,968
-
2,625
2,594
7,938
5,464
60,072
35,982		 2025
2024
Total All
Funds
Total All
Funds
£
£
540
2,100
43,890
24,493
2,111
1,331
2,968
-
2,625
2,594
7,938
5,464
60,072
35,982

35,982

8. RELATED PARTY TRANSACTIONS

No members of the Parochial Church Council received or waived any emoluments during the year (previous year: £Nil).

Out of Pocket expenses have been paid to P Stratton, who is related to S Stratton (Trustee). Ordained members of the clergy receive their stipends directly from the Church of England.

Related party transactions are as follows: 2025 2024
£ £
Donations made by trustees 11,832 13,062
Donations made by connected persons 4,200 1,800
Out of pocket expenses reimbursed to trustees 3,390 1,858
Out of pocket expenses reimbursed to connected persons 899 798
Number Number
Number of trustees making donations 13 13
Number of connected persons making donations 3 1
Number of trustees with expenses reimbursed 2 2
Number of connected persons with expenses reimbursed 1 1

9. STAFF COSTS

Wages and Salaries
Pension Contributions		 2025
Total
£
67,933
3,386

71,319		 2024
Total
£
52,563
2,767
55,330

No employee had emoluments (as defined for taxation purposes) of over £60,000 in the year. Salaried staff are included in the Church Workers Pension Fund.

18

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2025 (continued)

9. STAFF COSTS (CONTINUED)

The average number of employees, analysed by function was:

2025 2024
Number Number
Management and administration of the charity 1 1
Children and Families Ministry Leader 1 1
Cleaner 1 1
3 3

10. TANGIBLE FIXED ASSETS

Freehold
8 Victoria
Mead
£
Freehold
Clacken
Meadow
£
Freehold
50% Thame
Barns
£
Plant for
church use
£
Office
equipment
£
Cost or Valuation
At 1 January 2025
135,513
6,360
50,000
74,852
2,125
Additions
-
-
-
-
-
As 31 December 2025
135,513
6,360
50,000
74,852
2,125
Depreciation
At 1 January 2025
44,243
-
17,077
67,986
2,125
Charge for year
-
-
-
4,043
-
At 31 December 2025
44,243
-
17,077
72,029
2,125

Net book values
At 31 December 2025
91,270
6,360
32,923
2,823
-
At 31 December 2024
91,270
6,360
32,923
6,866
-		 Total
£
268,850
-
268,850
131,431
4,043
135,474
133,376
137,419

8 Victoria Mead (St Mary’s Curate’s accommodation) and Clacken Meadow (5.3 acres of agricultural land) 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 cost (1990), which is the deemed cost under FRS15 transitional provisions.

19

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2025 (continued)

11. INVESTMENTS

Balance at Losses on Balance at
1 January 2025 Revaluation 31 December 2025
£ £ £
All Saints church fund: 38,923 1,556 37,367
Chancel repair liability fund: 138,180 5,525 132,655
177,103 7,081 170,022

All investment fund assets were held on behalf of the parish by the Central Board of Finance of the Church of England (The CBF Church of England Funds). The Central Board of Finance of the Church of England is a charity (No. 248711) and a company limited by guarantee (registered in England No. 136413).

All investments are held within the United Kingdom and invested in the CBF Church of England Investment Fund.

All Saints Church Fund. The Church Hall had been built at the turn of the century at a site roughly mid-way between St. Mary's and what was then Thame's second parish church (All Saints) and was shared between the two churches. It was, however, never really a suitable location for either church’s activities. With the closure of All Saints and the transfer of its assets to St. Mary's, the opportunity was taken to sell the Church Hall to the Thame Players. Thame Barns was re-developed as a considerably more convenient substitute - the Barns are adjacent to the churchyard.

The Chancel Repair Fund is to provide funds for maintenance, repairs and restoration of the chancel of the church.

20

St Mary’s Parochial Church Council, Thame Notes to the financial statements

for the year ended 31 December 2025 (continued)

12. DEBTORS

2025 2024
Total All Total All
Funds Funds
£ £
Other debtors 4,453 2,175
Gift Aid recoverable 3,817 1,551
Prepayments 2,732 1,981
11,002 5,707

13. CASH AT BANK AND IN HAND



Barclays Current Account
CAF Deposit Accounts
CAF Current Account
CCLA		 2025
£
18,750
45,620
12,506
165,000
241,876		 2024
£
26,748
92,816
18,370
90,000
227,934

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Accruals
Other Creditors
5.
PROVISIONS
Provision for Purchase of
Sound Equipment in future
years		 2025
Total All
Funds
£
4,304
13,338
2,059
19,701
2025
Total All
Funds
£
5,000
5,000		 2024
Total All
Funds
£
774
11,072
2,710
14,556
2024
Total All
Funds
£
-
-

15. PROVISIONS

21

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2025 (continued)

16.ANALYSIS AND RECONCILIATION OF MOVEMENTS ON NON-ENDOWMENT FUNDS

2025
Unrestricted
£
Designated
£
Restricted
£
Income
286,490
30,820
20,456

Expenditure
(302,958)
(11,610)
(18,149)
Surplus before transfers
(16,468)
19,210
2,307
Transfers
(5,000)
5,000
-
Balance b/f at 1 January 2025
69,376
212,267
74,861
Balance c/f at 31 December 2025
47,908
236,477
77,168
Represented by:
Net Current Assets
5,802
145,207
77,168

Fixed Assets
42,106
91,270
-

47,908
236,477
77,168		 2025
Total All
Funds
£
337,766

(332,717)
5,049
-
356,504
361,553
228,177

133,376

361,553		 2024
Total All
Funds
£
369,726
(281,619)
88,107
-
268,397
356,504
219,085
137,419
356,504



Detailed splits of the movements within the individual Designated and Restricted funds can be found in Notes 17 and 18.

22

St Mary’s Parochial Church Council, Thame Notes to the financial statements

for the year ended 31 December 2025 (continued)

17. FULL RECONCILIATION OF MOVEMENTS ON DESIGNATED FUNDS

Victoria
Mead
Fund
£
Sound
System
Fund
£
Restoration
Fund
£
Income
-
-
29,480
Expenditure
(3,369)
-
(7,565)
Surplus/(deficit) before
transfers
(3,369)
-
21,915
Transfers from/(to)
Unrestricted funds
(65,000)
5,000
65,000
Balance b/f
At 1 January 2025
93,822
-
87,195
Balance c/f at
31 December 2025
25,453
5,000
174,110		 Youth
Work
£

1,340
(676)
664

-
31,250
31,914		 2025
Total
£
30,820
(11,610)
19,210

5,000
212,267
236,477		 2024
Total
£
91,079
(9,812)
81,267

(1,563)
132,563
212,267

AIM AND USE OF DESIGNATED FUNDS

The Charity utilises the following designated funds:

Restoration Fund

The aim of the Restoration Fund is to provide a reserve of monies large enough to fund the ongoing costs of conservation and restoration to the listed fabric of the church of St. Mary the Virgin, Thame. The church is owned by the Church Commissioners, but its care and conservation is the responsibility of the Parochial Church Council.

Sound System Fund

The Sound System Fund has been established to make provision for the a replacement system in St Mary’s Church for such time as the current system is no longer operational.

23

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2025 (continued)

Youth Ministry Fund

This fund was created in 2024 from an anonymous donation, not restricted, but given in hope that it can be designated as seed funding for a Youth Minister if an appointment is made in the future, or other future youth ministry as the PCC may determine.

Victoria Mead Fund

This money is 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

Income
Expenditure
Surplus/(deficit)
Before transfers
Fund transfers
Balance b/f
At 1 January 2025
Balance c/f
At 31 December 2025		 All
Saints
Fund
£
1,081
(2,968)
(1,887)
-
12,213
10,326		 Charity
Fund
£
12,336
(12,360)
(24)
-
4,174
4,150		 Organ
Fund
£
Church
yard
Fund
£
Chancel
Repair
Fund
£
620
2,580
3,839
(815)
(2,006)
-
(195)
574
3,839
-
-
-
23,300
-
35,174
23,105
574
39,013		 2025
Total
£
20,456
(18,149)
2,307
-
74,861
77,168		 2024
Total
£
9.593
(5,155)
4,438
-
70,423
74,861

AIM AND USE OF RESTRICTED FUNDS

The Charity utilises the following restricted funds:

Organ Fund

The aim of the Organ Fund is to provide a reserve of monies large enough to fund the ongoing costs of repairs, servicing and restoration/replacement for the organ of the church of St. Mary the Virgin, Thame.

Funds are raised through a charge for the provision of organ music in wedding and funeral services. Funds are spent solely on the church organ, but expenses do not necessarily arise every year.

24

St Mary’s Parochial Church Council, Thame Notes to the financial statements for the year ended 31 December 2025 (continued)

All Saints Fund

May be used for furthering the religious and charitable purposes of the Church of England in the Parish of Thame.

Chancel Repair Fund

The aim of this fund is to provide funds for maintenance, repairs and restoration of the chancel of the church and for no other purpose.

Charity and Welfare Fund

To be used for the charity and welfare of communicants of the Parish of St. Mary the Virgin, Thame. No fundraising activity is undertaken and expenses do not necessarily arise every year.

Churchyard Fund

The aim of this fund is to provide funds for large items of maintenance, repairs and restoration of the churchyard. Funds are raised through donations and expenses do not necessarily arise every year.

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

2025 2025 2024
Unrestricted Designated Restricted Endowment Total All Total All
Funds Funds
£ £ £ £ £
Tangible Assets 42,106 91,270 - -
 133,376 137,419
Investments - - - 170,022 170,022 177,103
Current Assets 20,333 152,048 80,497 - 252,878 233,641
Creditors Falling due
within One Year (14,531) (1,841) (3,329) - (19,701) (14,556)
Provisions - (5,000) - - (5,000) -
47,908 236,477 77,168 170,022 531,575 533,607

25