Charlty Registration No. 1129381 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GREYFRIARS, READING MEMBERS, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING Legal and Adminislralive Inlormalion Members Report Slalement of Members, Responsibililies Independent Auditor's Report Consolidated Statement of Financial Aclivilies 10 Consolidated Balance Sheel Consolidated Cash Flow Statement 12-24 Ncles lo the Financial Statements
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS. READING Charity R¢gl$tr•tlon No. 1129381 LEGAL AND ADMINISTRATIVE INFORMATION Mefflbt ol the PCC who served duritsj 2024 and up 10 the date of lh¢ $ignwYd ofthesg xrounts reaS lollows. Clergy Oavvl Walker fftr 10 31 JLrfy 20241 Natal'e Wofsfokl IAssoGk3t¢ VKar} Chri$wphar Hall (Curalel Elected mernb•rs 1¥+fig durlng the y•ar David Aubiey-Jos IPCC Deptsty Se¢rètsryl Sam Brown Ictropled lo 15 Iday 20241) Ben Oanbl Ilo 15 May 20241 Gabriel DI Ilo 18 January 20241 Georg? Eap•n Christiana Hbine8 Ilrom l July 2024) Martin H8loy Rochel Harrop (PCC Chgir) Oeb5 J$ffriès (from 15 May 20241 Nick Lam Sven Le1$ {PCC Tr¢asurer) Jennilor Nhau Ilo IS May 2024} Chinedu Oi Malv88n R8haJa Kalryn• Sèals Stephen SrrNlh Malcolm SLrnmffis IPCC S•Gtetary> Joshu8 TalJ Alan Tuvey Churchwardens Dèbs Jeffrfes Ilo 15 May 20241 Maigaret Stone ArfoTr Rees 15 MAY 20241 PCC s1•1•ry Malo)Im Surnm•rs Dlocesan an<J Deanery Synod m•mb• John MBsend Jan Cro$$ {Dlo¢¢san- from 1 Augusl 20241 Harriel Bch Chri¥ Gfeavo$ Madhwi Kulkaml John Ledger K8tie ltrom 1S May 2024) Holdlrg Trust D¥)c4san Tru8tee5 loxld) Lirnbted Worklng name Greriar8 PCC. Reading PrSn¢lpal 4ddr•ss Grtylriar8 Chtsr¢h is IoGfvt•d in Fr•ar Streel, R¢oding. RG1 IEH, Audltor Bwion Gharle8 Tha Coach House ey8 Grrt Bvilness Cenire HenleywThames Oxon RGg 4QG Sollcltorn 5&57 Lontlon SIKeet Re•dirrfJ RG14PS 8ank•r Lloyds Wk pk. 24 Bwtsgd Strw, Réad#, RG128T Investm•nt Manage CCLA InYeslrrnl man•Jent Ltd. On¢ Angel Lom. Lonthn. EC4R 3A8
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING MEMBERS. REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024 The M8rnbers of Ihe Parochial Church Council pre5enl their Report and Accoun15 of the parent charity and its subsidiaTy undertaking lor Ihe year ended 31 Oecembei 2024. The accounis have been prEpared in accor4ance with the aceounling policies sel oul on pages 12 to 14 and Comply wilh Ihc Charities Act 203 1. Ihe Church Accounling REgu131ion$ 2UOti and the Sl8ietnenl of Recommended Practice applicable lo ¢hJrities preparing their accounts in 3¢cordance with the financial Reporting Slandard applicabl¢ in the UK and Republic DI Ireland IFRS1021 leNeclive 1 Janu3ry 20191. Structure, Govèmance and Management The PCC chatiiy registered with the Charilies Commission Iregislralion number 11293811 and folbws the Church Representation Rules aulWi$ed in 1989 and last amended in January 2020. Membership of the PCC compiises five categories.. cleigy appointed by Ihe bishop, elected members ol Reading Oeanery and Highei Synods. Churchwarden$. elected members, and topted rn8mb&r8. Eleeied memb?rs alè appointed by the members of Ihe Eleciolal Roll and $6Ne for three years after which period théy may pul Ihem$elves forward for re- appgintrneThi. Co-opted members may be elecièd by the PCC to serve until Iho following Annual Parochial Church Meeting. The induclion proce33 for newly 8ppointed tnember$ ol the PCC Gompiises of an initial rnpeling wilh Ihe Chairman They are provide¢J wilh a welcome pack which Inclltdes a copy of the pievlous twelve Months PCC minuies plu$ sub.commillees, a copy Ihe last IEPOrt and accoullls, 8nd a copy of Ihe Charity Cofflmi5sion'$ outdance 'fhe Es$enlial Tru$iee'. The PCC 8boul six limes pef year, In accordance wth eGGle5ia$lical leglslation a PCC St8nding commiiieè (known in Greyffiafs a5 'Slanding and Finance'l rneel$ and tran5acls business belween PCC rneettngs. In addillon, Sub-groups. whi¢h include co.opted members, meet to addres5 specific 8re8s a$ may be requirad. The Chairman of th8 PCC is re5POD5ible lor day-lo-d$y m8nagemeni. Related p8rty tr8ns•¢tlon& Detail$ ol Iransaclitins with related parties are set out in Note 14 to the accounls. ObJ•ctlves and actIvlU lor t putsllc bon•lil Greyfri81¥ Church is a Church ol England parish wthin the Divcese of Oxford. The 0.eCIS of Ihe PCC are to further thé k ol God's kingdom through Ihe aclivitie5 of Greyfriar$ Church in Reading and the widef communlly. The PCC has tne iesponsbbilily, as slated in the PgrD¢bial Church Councils IP¢iwersl Mea&urè 1956. of co-operallng wilh the minister promoiing to as mbny people as Possible In the ec¢lesiasti¢al parish. the whole rnisslDn ol the Church, pastoral, evangelistic. social and ecumenical. li also has responsibililie5 for the Greylriars Church Centre. The tnembers confirm ihal they have regard lo the Charity Gommis$ion's guidance on publ1¢ bellefll when plannln9 the a¢tivilip$ of Gieyfriars Lhurch. A¢hlevem•nt$ and perforrnance In Ihe year Gr8yfria¥s is a large and a¢liv¢ Angli¢an chufch in Ihe cenlrÈ of R88ding and in Ihe Oiocese ol Oxford. Amhough the gèographlcal parish ol Greylriars 15 quite small. the church satves a large 8nd mixed congrega1ioTh. The church sile. ¢)mprisin9 Ghurch and cenlre. 1$ busy every day and rn051 é¥enings ol the week. s¢wvirrfJ the congré9alk)n, the wl¢Jerchur¢h in Réading, and leaching out lo pas8ing public. The rninisiry ol Greyfriars Church is ¢arried out by paid and unpaid staff and volunteer5, clergy and 18y. on the church site, atross the lown ol Reading and beyond nder the leadership tsl the ¢leroy. Senior staff members who assisl the clergy in th9 day-lo-day rnnagel ol GrByfiiaFs includè D Procler. J W811. D Brh1. H Harper. A Ord and T & M Pollaid.
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING MEMBERS, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024 ICONTINUEDI DLtIing the year we were sorry lo say uoodbye lo our y&r. Oawd Walker. and pray for tvery $utteÈs in INS new role wilh Ihe London Inslituie for Contemporary Chrislianrty. In March 2025 a new appoinlrnenl was announ¢8d for the iole ol vicar lo Ihe Parish with a view to Ihe ¢8ndidaie starting later in Ihe year subied lo the usual checks David's depatluie notwilh%landing. 2024 was another year of ielaiive siabilily and growlh for Greylriars. Our SuntJ8y services conllnued Ihesr pattBrn ol tneeliii9 319.30arn, 10JOÉim (New Hop81. 11.30am 8nd 6.30pm. Children aged 0-14 reffla In the 9.30am se1£ aboul Ihe fiisl 15 minutes, Ihen go lo their own groups. Each year thert are several Special family sel¢e$ including Easter, MhrIng Sunday and Chri5ttTI85. in addilion lo all age servic85 on Ihe flrsl SundÉy of every month. The 1130am service Is a quieter. rnore ieflEcliwv one.hour servlc6 Ihal focusÈ# on tr3diiional liturgy and hymns. The evenin9 service at 6.30pm has a relaxed alrn05phere 1th a lar9er number ol studenis and Ihtssc in their Iwenbes 3nd thirtigs Greytriars Chuich encompasses New Hope CDmmunily Chuicli INHCCI which is a rnission con9iegalion In thè north of the Gi¢yfviafS parish. NHCC operates in s building leased Irom Ihe New HDpe Charitable T$t and in 2023 was led by Ihe Comwnunity Missioner (who leA ai Ihe erkl ol yeail with lay teams auoss the par15h. 11 conlinues to have a lamily orienled 10.3Oam Sunday moining seivice and ran some weekly achvilies. As of the siart 012024 it operated as a lay Igd Christl8n Community with som• CrgY inpul, wilh r¢view$, Ihal have commenced wilh the New Hope Truslee5. The Greyfriars Nursery, Dperated by Greyfri8rs 151r1e$ Ltd IGML). had a stabla year ofoper811onal activ6ty bul cosl pre$sur¢s rneanl that despite Increased revenue GML rnade a loss The nursery continues to uso the rnain lIdIng and Ihe Memorial Ham annem . The church c8nnot opèratè without the breless contributions ol volurnteers. 11 1$ ¢onsidered irnpraclical to c8kulale a financkg1 V811 10 the¥ wort< and the rnembers are ol Ihe opinion thai il would not add meaning lo Ihe aceounls. The rn8rnbe ol Ihe PCC would agaln like lo thank all those who coniribule lo the vibranl life ol wr chuith in whate¥er wac4ty. ChuTch •tt•ndanee The E¢1031 Roll is updaled regularly 3nd cornpletely revised èvtty x Ye$. Immediatdy before thé APCM In 2023 Ih6re wef&46g12023.. 4611 pèople on the Church Elecloral Roll, 434 {2023.. 4271 olthom We not residenl in Ihè parish. The aVere weekly attendance duTin9 the calendar yearwal 658 (2023.. 5131. bul Ihis numbei kn8$ed Ourln9 lelvals. FlTh#n¢i&l Rpvlew The a¢couDts show thal th8 Church had a surplus of E329.783 on all •cllvitio$ 12023.. Suwus of £650,694) before Iranslers belween Funds. The level of unrestri¢ted Consolidated re5eNes for the PCC at 31 December 2024 was £8.901.440 (2023.. £8.639.1261. 01 which £10,197,213 12023.. £10.369.4571 was represented by tangib fixèd assets. The PCC review$ Ihe level of reserves ?ach yw lo ensure that il 1$ sufficienl for ongoing lay-10-day purpD&es. The PCC con8i(i¢r8 the financl81 poslllo 8131 Dtcembef 2024 to be salislaclory. In making thi5 judgement the PCC is conscious thal in the recenl past it has adopted 8 praGte of pulling don31ions Irom GML Isave an adjustment to reflect GML'S profits on Iransaciions wilh the chufchl 8nd major legacy irKoTne into a d85ignaied'RedevelDpment Fund.. Wilh the opening of lfrÉ new Church Centre in 2023, dongliotls from GML. major legacy inrne and olher mapr donations are Iikety lo be used to fin8rt6 the ongoing Operatial actfvities of Gieyfdars Church in the immediale luture. The PCC has approved a BJg61 for 2025 whlch shows a deficll on otralional a¢tsviliès il incom• remans at 2024 levtl$. WThilg1 Ihe PCC Is awa ol the economtc dirnale. il considers ihal wllh Ihe ¢urrent vision for Ihe church'5 direclion and the growth that 1$ beginning to be $een, it is re8$onable to a$8ume oWth in donallons togelher with lighter control to oflset this def11. The PCC reco9niso tho need to bring the comrnervigl operalions closer lo break-even and have inilialed working groups lo look Nilo thi$. There is capacily wlhin Ihe church'5 ¢)veiall financlal position lo absorb a $hortfall. The maln Soufce of fun+Js Corn85 Irom donallons and reni8llhirin9 incom. All these fuThls enable Ihe PCC lo fvlfil its aim5 and objecli¥Ès as slated 8tM)ve. Whilsl In principle Ihere are no reslrictions on Ihe PCC'S power5 to invest. $0 both Ihe unrestrici¢d and restricted funds m8y be invested in any lype ol Inyeslmenl. curn11Y it 1$ the policy and practice to invèsl tho fund balances wllh Lloyd5 8aTrk, the PCC'S b8Dker or the CBF Church of England Deposlt Fund and wilh other Ins161ulions as deemed apwopriale.
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING MEMBERS. REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024 ICOMTINUEDI R8erves Pollcy 11 is pdicy of Greyliiaws Church thal Unl1rIC[ed cash funds which have not been desigTraled for a specifK use should noimally be rnainlaine(l al a level equi¥alent its al lfrasl three and no rnofe Ihan six morrth$' expendllute. The PCC considers Ihal cash re$eNes al this level will ensure Ihat in the event of a 5ignificanl drop in lundino. Iheywill be able lo continue Greyfriars Church's current activil¢es, whli è considefation 1$ gi¥trn lo ways in which ad(Jilional funds rnay be raised The PCC are ol Ihe view Ihal the level ol reserve5 ai 31 December 2024 r?fiects Ihe phasing of cash income and exp.ndilure after a pefiod in %thi¢h the Churth completed a mulli-rnillion pouThl. multi-year capital woject. Tighter cosl control will help minirntie any drain on Ihe reseNe$ duriNg 2025. Grant Making poII¢y 11 is the policy of Ihe PCC lo support mai)r Ng8nis81ions and projects through the granliThJ of funds. 11 is a requiremeiil of Ihks grant that the PCC re1Ve report$ inlo how thg lunding has been Ljlilized to confjmi that Ihe 9ranl has been applied in IhE orrecl manTher. These reports also enJle Ihe PCC to eommunic8le back to the conoregalwjn how Iheir gihs have been used. Ri$k8 Manlgement The trustees continue to rewiew the major ii$ks lo which Ihe PCC is exp058d and Consider systems lo mili9aie those 115k$. Plans for Futur P?rlod• The vislon of Greyfriar$. 'to see Reading tran51ormed by Ihe love and pewer ol Je$u$', ¢onlinues lo be Ihè catalyst lor how Ihe chur¢h has developed 8nd Chang Dver the last year. Some of these chong6S are related Ic ministries. to t*am$, 10 s)daY services and lo the develwmenl ol the 8ité. The Vicar left at the end of Juty 2024, $0 $ignifKant new plans wll await Ihe arrival of the next incumbent. Audltors Bruion Charles were appointed es 8uditors dutbng the yeor and have expressed their willingne5S to continue in Ih8t eapaeity. A r8solulion proposing their re-appointment wll Lw pul to the Annual General Meetino. On behall of Parochial Chwch CourKII a¢hel Haffap Chair ol Ihe PCC 12 May202
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS. READING ol PCC mèmb•rs In relatlon t lal statemenls The Parochial Church Counc4 is responsible for preparing th8 Members. Report and the aGcoLnls in accordance wilh the applicaNe law and Unite¢Y Kingdom Accounting StaTrJard5 (United "ngdoM Generalty Accepled A¢¢ounling PraC1e). The law applicable io the Parochièl Chureh Counul in England and Wales reouire6 Ihe ffl¢rnbers of the PCC lo prepare financial sl8t8menl5 fow each financial year. which give a Irue and lair view ol the $t8ie Df allairs ol the PCC and of Ihè iorning resources and application ol resouT¢e5. of th¢ PCC for Ihat period. In pweparing Ihe financial sl81gments. the membefs shwKI folow best praclice afid.. Sele suilable aeeounting policies and then 8ppty Ihem ¢onsistenlly observe the melhods orid piinciple5 in the applicae Charthes SORP make I9t$ and g91imat¢¥ thal are reasonable Pfudenl state whelher applicabl8 8ccounting standards have been foltowed. subjea to any maleiwl departures that m¢J51 be disclosed and explained in the financial slaternents, and prepare the finan(¥al stateer*S on a ¢Ortein basi$, unless M Is Inappropriale lo presume Ihal the ch8rrty will continue in operation. The membars of the PCC are responsible lor keewng pKcounling r•cords, th81 disclo8e Wbth r8850nablo accuracy at any timè thè financial position of the Councl. and enable Ihem io ensure thal Ihe financial statements comply wth the Charitie$ Acl 2011. the regulalion3 m8dÈ under Section 154 of that act, the Church AccoUnn9 R•gulation$ 2006 4nd the applicable Charitie5 IAc¢oun¢s and R$ports1 Rogul8tions. They are also responsible fDf salèguardiry the ass8ts ol the Council and hence lor 18klng fealonable stéps for the prewenlion and det?rtion ol fiaud and other Irr¢9ul4rili¢s.
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING Independ?nl Audltor's Report to Membèrs of the Parochlal Church Councll of the Eccléslastlcal Parlsh of Grèyfrlars, Reading Year ended 31 December 2024 Oplnlon We have aucliled Ihe financial sla¢ernenls of Ihe Parochlal Church Couiiril ol the Etrles12slab Parish of Greyfria, Reading (the 'PCC'} lor Ihe year ended 31 Oe¢ernbeT 2024 on pages g lo 24 which comprise the Slalerneni of Financial A¢livili¢s. the siaiement of cash flow. Ihe Stalernenl ol Financial Position. ai)d the related notes. The financi81 rewrting Irornewofk Ihal has been dpplied in Iheir pre5enlalion Is èpplicabk law and United Kingdcm Accounting S18ndard$, Including Fin8nci81 Reporting Slandaid 102 The Finanoal Reporting Slandwd 8pplicablq in the UK and Fiepublic of Ireland (Vniled KingdcHM Cjeneralty AcG¢pi¢d A¢¢ouniing Praclicel. In our opinion the fin8ncial slaternenls. giv& a t¥ue and falr view ol Ihe Stale of Ihe group and the charity'$ aNJlr8 ag ai 31 Oecember 2024 and of1he group's incoming resources 8nd 8pplallOn of resources. including its incorne gnd expenditure. for Ihe year Ihe endod. have been properly piepared in ac¢(dance with Ihe United Kingdorn Generally Accepted Accounting Praciicè. have been piepared in a¢tordance with the iequiiements of the Chaiities Acl 2011. 8&sls for opinlon We conducl8d our audii in accordance wilh the International Slandards on AJ11n9 IVKIIISAS lu> and applicable law. Our respon$it)ililies un¢J6r Ihose standards a fvrfher d¢$cribed in the audilorfs r8sponsibilrties for Ihe 8u(t of the financial slalemenls section olour report. We are indppendenl olthe charily Sn aCcdanceW11h Ihe elhKal requiiernentsthalare relevant to our audit ol the financial $181¢nnIS in the UK. including the FRC'S Elhicèl Standard, and we have fulfilled our elhic81 respon¥ibililies in accordance with these requirements. We believe that the audit evidence we have obtaird Is suffi¢ienl and appropriale to pyovide a basis for our opinion. Concl$10n$ relatlng to going con¢trn In auditing the financial sialements. we have Concluded that Ihe truslees, use of the going concern basis of accounllng In Ihe prtparalion of the fJnan¢ial siaiemenis 1$ appropriaie. Based on lh¢ work we ha perforrn8d, we have nol idevtified any material uncert?iTrthe5 rolaling to event$ or condilions Ihal. ind'vidualty or collectively, rnay ca51 snificant doub¢ the charity's aLNlity Its continue as a golng concern lor 8 period ol al 1è8st rnonths from when thè finanaal slatern8nts are aulhorised for issue. Our responsibilities and Ihe respDn51bi1S1ies of the truslees with respect to going coficern arè dtserib8d In Ihe ielevant $eth'ons of Ihis report. Oth•r Informatlon The olher information eomprises Ihe SnformÈlion included ITh the annLHI reporf. other than th• financial statements and our auditor's port Iherwn. The members aro responsible for Ihe other infomation. Our opiNon on the financial 51alements dD [t cover the other inform8'on and, except to t1 exlfjnl o¢herwi$8 expliciuy staléd in our report. we do not expiess any ftym ol assuran¢e ¢on¢lu$ion Ihefepn. In ¢onneclSon with our audit ol Ihe fbn8ncial slal8menls. our responsibility 15 lo hd the olher informzlK*n and, in doing so. considei whether the olher inlormalitsn is m8terially inconsistent wilh the financial staiemenis. or our knowledge obtained in IhÈ audil or otherwi$¢ appear$ lo be materially m16Stated. 11 we identrfy such malerlal ineon4istencies or apparent material missialemenls, we are required lo determine whether thèrè is 8 maieiial rnis$to1gm&nl in Ihg financial $taternenls or a malerial rniB$l8lemenl ol th8 other inlormation. If, basod on the Wcirk we hav¢ performed, we conclud8 that there is a malerial mi88taternent of this tslher information, we are required to rèport Ihai fact. We have nothlng lo report on in this re9ard.
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING Ind8pendent Audilor'$ Report to Mèmbers of thè Parochlal Church Counrll of the Eccleslasllcal Parlsh ol Grèyfrlars. R•adlng tcontinued) Year en¢Jod 31 Oecernber 2024 Matter6 on whlch wg are roquired to icport by excoptlo In Ihe light of the knowledge ancl undeislanding of the chaiily and ils env¥onnienl abtained in Ihe c(Furse of the avdil, wè have Thol idenlifie(J material mi$siaiemÈnlS In the emberS. report. We have nolhing 10 ieport in respect ol the lollowing m31lei$ in rel3lion lo which the Charities Act 2011 requiies u5 to report lo you il. in our opinion". Ihe information given in the members, report 15 IneonsfsleThl in any malenal SpeCt with Ihe financial siatemenis," or adequate Bccounling r8COtd8 hBve rK)¢ been kept., or the financial slalemenls are not in agreemenl wilh Ihe 8CCOLtntin9 r8C(Nds and reiums.. or we have nol received all the informaliw and exp18n8tion we r8quire lor our auJil. R8sponsibiliti•s ol th• memr6 As explained more lully in (he membefs. responsibitilies slalemenl. Ihe metnbeis are SPonsible l(K thé pfepar8tion of the Inancial $lalemenls and for being $ali$fied Ihal tliey fair vi8w, and for such internal control 85 members deterinine 18 necessary lo enabl? Ihe prepara1n of the financial 5talernent$ Ihal are free from ihe maleiial mlsstatemenl. whe1h8rdue lo fraud or error. In preparing Ihe finaniial statements, the membeis are responsible lor a5sessin9 Ihe charity's ability to ttonlinue. as going ¢on¢ern, disclosing, as applicab, matters rel8led 10 9tsing concern and using the going concem basis ol a¢CDtsnling unless th8 members eilher intend io liquidAte the ehArily or lo eease operations, or has no reallslic allernative bul lo do so. Auditor's fe5pon8lbilitl8s for thè audit ol the finanel&l #tatemgnt8 We have been appointed as auditor under sectlL¥) 144 of the Charities A¢1 2011 and rfjport in accordance with r¢9ulalions made under sectign 164 of that Act. OJr ¢Jblecti¥e$ are to obtain reasonable assurarKe about whelher the financial 51alemenl$ 8s a who18 are frèe Irom material misstatement, whether du8 lo fraud or eTior, and lo is$ue an guéiior's report that includes our opnion. Rèasonablo assur8nce 1$ a high kvel ol assurance is not a guafanlee Ihal an audit conducled in accordance Wlh ISA$ IVK) will always delect a materi81 miBsiateMent when it exisl$. Nli$slalement8 can arise from fraud or tri and are ¢on8idered m8t¢rial il, indniidu4 or in aggrtgald, Ihey couhj reasonabty be exFded lo influerte Ihè eCormi¢ decisions ol user$ taken on the ba$ls of these nancial siatements. As part of an 8udtl In acco¥d8nce wilh ISA5 IUKI, we oxerclse prole$sional judgernent and fflaintain prolessiol skeplicism throughoul Ihe audit. We also.. Idenlify and a$$e$$ the fi8k$ of malgiial mis$talemehi of thè financial 5t8lemenis, whelhr due to Iraud or trrcr, de$ign and perfoim 8udil pio¢edures re$ponsivo to Ihosp risks, and Dblaln audit evidencg that is Su1¢181 and appiopriato lo provide a ba51s fo¥ our opmion. The risk ol nol detecting a mal¢rial rni$slaiemeni resulllng Irom Irau(I ij higher than for one rfrsul¢lng frorr error. as Iraud rnay in¥olv8 eollusion. lorgery, intenlionBI omissions. misrepiesenlaiion. or ihÈ override of internal contfol. Obiain an understanding of inlernal control relevant lo the audit in ordew lo design au¢Jit procedtsres that are appropriate in the circum$lance5. but ntsl lor the purpose ol expressing an opioion on thè elfèeiivértass of th& Intarn81 control. Evolualè Iho approprialen8sg of accounting polrcles uyed and the reasonab16ne¥s of aGcovnting ¢$ilm8tés and relaled disclosures made by Ihe member,
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING Independent Audltor's Rèport to Member$ of thè Parochb81 Church Council ol the Ec¢l•sla611cal Parish of Greylriars. Reading (conlliiued) Year ended 31 De¢ember 2024 Conclude Dn the appropriaieThess ol the members. u59 01 Ihe 9olng concern basis of accounling and. based Dn the audil evidence oblainod. whether 3 rnatgri81 unceflainty exists related lo events or conditions thal may ¢asl significanl doubl on the tharily's abilily lo continue as a going concern. If we conclude that 8 rnatÈrial uncertainly 8XlStS, W8 are iequired lo draw atlenlion in our gudilor's rÈporl to the related di5Glosus in Ihe finan¢kg151alem9nts ¢Y, if such disclosures are inadequate, to rnodify our opinion Our contlu$ion6 are based on the audil evidence oblained up 10 the dale of our auditor's report. However, lulure evenl$ or conditions May ¢ause the chaiity 19 Gease io eontinue as a going CDncern. Evaluate the overall pre$entalion. struclure and con1ent ol the financial $talerneTrls, in¢luéing the dis¢losure$. and whether th8 financial statements repre¥eni Ihe underty1 tr8nsaclioTr evenls in a manner Ihal a¢hieves fair PSent3110n. We comrnunKale wilh those chaiged th governan¢8 regarding. aMg other mailers. the planned $cope ond liming of Ihe audit and slgnificanl audit findings, including any signifi¢aDt deficienoes ID inlernal control Ihat we Kl?ntify during our audll, U$e of our report This report 15 made solely to the charity'5 members. a$ a bly. bc¢crfdarte with Section 144 of Ihe Charili9s Act 2011 and ¥egulalioll5 tva¢Je under 8eciion 154 01 Ihe Act. Our audit VK&rk has Èeen Mdenaken so that we might st¢ to the charity, members those mallws arè required to stale lo them in an audilof s report and lor no olher purpo¥e. To tho fulesl extent permrtted by law, we ¢Jo {t accept or as8urn& Ip9nSIbllty lo anyone other Ihan lh& charity and ¢harily's members as a body. for audit woth, lor this report, ¢y for the tspinions we have forrned. Neil Major FCCA IS•nlor Statutory Audl¢orl Bruton Charles Ch8rtered Accountants and Stalulory Auditor8 The cOh House, Greys Gieen BusK)ess Cenlre Henley-on-Thames, Oxfordshire. RG9 4QG 12 May 2025
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 R88trlctéd UnltrIcted Funds.. TOTAL FUNDS Fund On9olng Designat¢d 2024 2023 Not•s INCOMING RESOURCES In¢omlng Yg$our¢e8 frorn generaled fund• Donations and legacs Investment income 2181 75.Cl)O 696,693 293,398 1,265,089 1.605,103 512 31.583 127 32,222 14.411 75.512 928,276 293.523 1.297.311 1,619.514 IrmI) resourcs Irorn charitable a¢tivrties Incomhg resour¢e$ from operadond acllvth8s Other iorninre$0Ur¢¢3 TOTIL INCOMING RESOIJRCES 21¢) 151,428 151,426 164,78S 1.080,508 1,080,508 1,023,21S 357,183 445 357,828 101,405 75.512 2.517,393 291968 2.906,919 RESOURCES EXPENDED Grants p8y8ble charitab a¢tivilies 3181 1,260 99.863 101.123 107,078 31bl 1.044,202 0.832 1.053.034 931.724 Operational a¢Ville 31cl 1.035,085 1.035,08S 922,944 Govemance costs $43 367,305 387,848 298.479 TOTAL RÉSOURCES EXPENDED 543 2.447.B52 1Q8 89S 2.557 090 2 258,225 NET INCOMING RE80URCES 74,969 69.541 165,273 329,783 850.894 Tr8nBl&rs betrmn Fvnds 7.500 549.83Q Not Mov•ment In Fund• 67,469 619,371 1357,0671 549.659 329,783 650.694 FUND BALANCES BIFWD 1 JANUARY 8.069,467 8 639.126 7.988.432 FUND 8ALANCES CIFWD 310ECEM8ER 67 469 8 708.838 192 602 8 968 909 8.639.12G
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS. READING CONSOLIOATED BALANCE SHEET AS AT 31 DECEMBER 2024 CoD$olldaled pcc 2024 2023 2024 2023 Nots8 Tan9lble Flxed Ass•ts Current As8els 10.197,213 10.369,457 10.180.080 10.365,385 Slock 14,971 18,8C 14,tr71 18,809 Deb¢or$ 376,009 408,356 366,676 446.675 Shorf ¢¢m) d¢w)si16 Cash at bank and Sn hand 250,000 250.000 495.026 431,661 272.148 211.877 1,136,006 858,826 923,795 677.361 CYedltoE8'. ArnoL1B F4lllng Oue Within On• Y••r 1369,9881 1419,6461 1290.Y53} 1330,4291 Nèt Current A•$•t• Y86,018 10.963.231 18,001 439,280 833.042 10,813,102 346,932 Total A•s•ts L•$• Curr•nt Li¥brlttio• 10,808,737 10,713,317 Provl•lon Fw Llabllllles And Charg88 Cr•ditor5- Amounts Falllng Due Al¢•r M Than One Year 10 12,010,323) 12,177.87n 11,824.5841 12,073.737 NET ASSETS 8,968,909 8,639.126 8,988.518 8.638,580 Con8olldaEed pcc 2024 2023 2024 2023 Unreslricled FLM)ds'. Gènèr81 Funds 11.12 8.708,836 8.089,467 8.728.447 8.088,921 - Designated Funds RastrtEc1 Fu3 11.12 192,602 549.659 192.602 549.859 11,12 67.46g 67.469 TOTAL FUNDS 8,968.909 8,639,126 ,988J18 8,638,580 The notes on pag¥$ 12 10 24 form parl ol these a¢crA. The accounts have been Bppfov8d by thè Parochial Church Council and slgn$d M Its behalf on 12 May 2025 by.. Rachel Harrop Ch*r of Ihe PCC en Lewls Treasurer 10
PAROCHIAL CHURCH COUNCIL OF GREYFRIAR8, READING STATEMENT OF CASH FLOW AS AT 31 DECEMBER 2024 2024 2023 Notè• C8h n¢)wa Irom opgrailng Cash generated from operalions In•tIng a¢tfvltl•• Purchasè ol tanglbl• fixod assets Pr¢ell$ on di$p)$81 of fixed assals Interest r8¢eivgd 20 479,030 1.220,700 {207,1151 313,028 Q.433.878) 2,577 3,395 N•t ca•h u8•d In In¥•8tlw a¢lS¥111•1 Flnanclng aotlvitiOS 108.48B 11430,4811 Ca8h low from loans transac'On¥ P74,1341 632.737 Not ¢88h In Ir¢m flnonclny oct1vl• N•t docr•ao• In cash •rwJ ¢•ih •qulvalents Cash eash e9¥0161$ It beginrriffj ofyear C••h nd ¢a•h QqL4v¥l¢irt• •t *fid of year 1274.1541 313,364 431,662 745.026 632,737 1577,0461 1.008,707 431,662
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS. READING NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2024 1. ACCOUNTING POLICIES 1. 1 Basi$ of a¢countlng The a¢¢ounls haw beèn ppared under the h'storical c051 convention. The accounts have been prep8red in accoldan with Aecounling and Reporling by Charities.. Slalement of RecommendeLI Practice applicable io ¢h8rilie$ p paring their accounls in accord3nct with the Financial Rep)rting Standard applicable in the UK and Republic of Ireland IFR51021 lelf&clive 1 January 20191- (Charities SORP IFRS 10211, the Charili8s Ad 2011 and in accordance with the Church AccDunlin9 Regulations 20C6. The sigrjificanl accounting policie5 applied in the preparation of these finoncial s18temen15 Bre set out b81ow Those poli¢ie$ have been consisienlly applied lo 811 yeais presented unless otheThvi5e stsled The PCC constitutes B public benefit enlily as defined by FRS 102. 1.2 Consolidation The re$uli$ of Greyfv'ars MTrnislrie$ Limited whose yÈ8r-end 1$ 31 D8c¢mber 2024, a wholly DwTred subsidiary have been consolidated In the C¢J)solidated Slatemenl of Finanoal Affairs and Bala¢ Sheet. No 5ubsidiarie$ were acquired or sold in the year. Inlra-group sales and profits BrnIrs819d fvjlly on wn$(Aidalion. Summary details of the aciiviis ol the subsidkgry are in 15 lo the financial slateMlS. 1.3 Fund5 General lunds represent Ihe lunds c4the PCC Ihat are not subj8cl lo any re$triciions regardirp Iheir USE and a available foi application on Ihe genernl puposes Qf the PCC. Funds designated lor a particuler purF¥)50 by the PCC ar8 also unfeslridtd. The PCC ha$ a nunthr of Designated Funds lor v8rious adithties. the descriplkins and movem8nls on vthkh a set out in Noie 11. These Designated Fund8 remasn part of Unresincted Funds. Re$trKtéd lunds are fLmds that ha ro$trKlign$ pllacèd on Ihem in respect of wht they ean be used for. where th05 resiriclions have been put in pLBce by the donpr of Ihè funds. Delails of the reslrieied lunds are sel out in nol& 11. The accounts include all Iran5Xtiofis, asseis and liabilities for whi¢h the PCC is resp)nsiblg in kw. TW do nol include the accounls of thurch groups that owe Iheir main affiliaitits to another tKdy nor Ihose Ihal ale informal gatherin95 of Church m8mbeis. Detals ol the nalur? and purp056 of each lund is set out In Mole 11. 1.4 In¢omlno R•8our¢•¥ Co1CtIOns are rcognlsed vthen re¢eNe<l by or on bèhalf orth8 PCC. Planned g4g r¢¢¢i¥8ble linder Gift AKI is recognised onty when recewed. Income tax recoverable on Gift Aid donation5 is recognised when the income is recL¥nbstd. Granls and legacies to Ihe PCC are accounted ftsr ths sooD as th8 PCC Is no15fied of 115 legal enlillernenl 8nd the omounl du?. Non eapilal grants are taken lo income according to the terrns of Ihe granl. R¢ntal ijxome frorn the letling ol ehuich premise$ Is recognised. exclusive ol VAT, when the rental is due.
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl YEAR ENDED 31ST DECEMBER 2024 Income Irom inveslmenls is ae¢ounipd lor when ceIVbIe. Tax recovei8bl8 on such Incfxne is re¢o9nised in Iho samè accounting year. Re81ised gains and losses on invesirnen15 are reco9nised when investments are 5Tr1d, Unrealiséd gains and losses afe accounted for on the wevalu81ion of investfflerts al 31 Oecernber. In aGcordance wilh the Charities SORP IFRS 1021, Ihe gen?ral volun18er l¥ne ol the PCC is Trol recognized, refer 10 thè Members Rep¢Jrt Ipage 31 for more information about Uieir conlribulion. 1.5 Rg•ourc•$ èxpèndèd Expènditurè is Includèd on 8n 8eciu8ls basis. The parish Share is accounted for when payable. Any share unpaid oi" any iebalB al 31 December 16 provbded f(x in Ihese accounts as an operat)nal Ilh(MJgh not a legall liabililylass¢1 and 1$ shown as a credilorldebior In the Balance Sh881. Governance ccmnprises cos1$ lor Ihe runnin9 01 Ihe aGiivitie$ of Ihe church. Apport1MeI of lotal staff co$is b¢Nvsn operational a¢iivtlies and governan has been carried Dul pro-rata to tho fjstimated tsme $ppnl by 811 memb•r5 of slafl In each area ol gdivily. Ti)ts1 slaff $ts ar¢ allocaigd lo chariiable ac11vil$ 59¥&12023.. 59%) and governance 41V. 12023. 41%). Gran1$ ar donations 8re accounted lor when paid over, ow aw&rded, il Ihal awarJ c188te$ a ts1nd9 obl.gatn upon thè PCC. However, the PCC h35 a policy of3llcrating 10% Olgiving inco, inrjuding assoclaled GiftAidtax re¢w¢ry. lowafds mission and svpportin9 the po(K. As the PCC becomes 3war8 af de58Ning causes li assesses thosewilh th8 greaie$t need in line %wlh Ihe valjes of the Chureh. Where this money has been authorised no bindhig commilment exist$, the PCC has Ifansferred these amoun1$ lo a Designaled Fund Isee Note l 1). 1.6 Flxed a8Bot8 TaThJible fixed 9$sets ore Slated al cost lor deemed his1 cosll less aCCMal¢d depreciaih)n. wh8r¢ provided Fr98hLqd L)d and BuiklirwJs arè statod 81 cosl (or d88m8d cost lor land and twilding8 held ai valuatK)n al the dat• of Iransitlon to the Charllies SORP IFRS 102)). less auumulsted dèprecla1n. Consecrated and beneficed property 15 excturled Irom the accoun1$ by $.1012llal of Ihe ChariliÈi Ael 2011. All Ihe assets have been photographed and e0rded lo ensure that the PCC keeps proper conlrol ov61 the exlsl&)ce Jhd cortdS1ion ol Iho assets. No value i% pl8d on movable churth lurnlshinps held by Ihe churchwardens on >pèclal twstforthe PCC andwhich require laeuNy lor dispts$81 sin¢e Ihe PCC cc¥)si(Jets Ihis io b¥ inalienable property. 1 expenditurg incurr¢d duTrng the year On consecrated or benefice buildin9s and movat49 church furn15hing$. whetlpr ma¢an or Tmprovemenl, is wrilten off Ihe SOFA and separately disclosed. Buildings on Il Greylriais sile except the Consecrated building land fofm8r vicarage) are depre¢A&ted on a slraoht.line basis over 50 years. Resi(Jential propety held lor church purposes is not depreciated (see Note 51. Freehold re-devewmertfixed gsieis thai are undereonstruelion are not depcialed until they ar& broughllnto use. Tho$ that have ce inlo use 8re depreciated on a slrai9hl-line basis over 50 year¥. Equipment used withln Ihè church MIseS 18 (Jepreciated on a straigh1-le basi$ over 4 yeari. Individual items of equipTh¢nl with a purchase price of E1.000 OT less are wnillen off when Ihe asset is acqulled
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING NOTES TO THE FINANCIAL STATEMENTS {contlnuedl YEAR ENDED 319T DECEMBER 2024 1.7 Currnt a#g•ts Amoun15 Owing to the PCC at 31 DeGembei in respect of fees. rents 01 other Incorno or8 shown 88 debtors less prOv10n for amounts Ihat fftay provè uncolleciible. Short-ièrrn dop11$ include cash held on deposit with Ihe CBF Church of England Funds or al the bank. 1.8 Penslons The PCC 4nd GML ¢)perate 8 ere0 tributIc1)S pen6wJn Sc9. The asse18 Df Ihe scheme arè held sepafately from tse of Ihe PCC and GML in an indgpend8ntly admlnisleied lund. Tho pension charge repSentS contnbulions payablè by thg PCC and GML lo 1he Khèmè. 1.9 stocks Stocks are vaw al Ihe l(yffi of cost and nel reallsalA• value. 1.10 Inv•gtm•nt kn Greyfrlar¥ Mln18trl89 Llmlt•d No c05t k)r Gfeyfriars Ththni8lrie8 Limiitd appes on the BAlanc8 Sh&•t a8 the ¢otV•any 1$ Ilmilgd by guwanlee and the PCC has nol Iurd any ir4vastsenl cost8. 1.11 Op•rntln9 L••••1 Renta16 payBble urhjer rperating leases, includg 1$S$e SncentWg& rec8iv•d. are tharged lo Ihe SOFA on a straighl. line basis over Ihg ol the rethnl ltaw. 1.12 D•l•ff•d l•X Deferd tax Is recogniied in resp¢cl ol all dlfvrenc•s ttmt have c¥igin8ted n¢X revers¢d 8t the balarKe sh991 1.13 Gov•mm•nt or•nts fK•lv¢d Grnn18 rèc•iY•d lrt advance are accounled for using tho'accrual rndèl., IdeasSng lh• T¢nue 9rants agdnsl the 1818vant •xpeThJilure w 11 is Incurred. Cpltal grants are releasgd kn Iln• wlth the d•pr•eiallon charges made on the relevant fixe a88ets over thelr expecte(l useful lile.
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS. READING NOTES TO THE FINANCIAL STATEMENTS {contlnuedl YEAR ENDED 31ST DECEMBER 2024 2. INCOMIN RCE RtrIctd Unre8trf¢tsd Fund5 TOTAL FUNDS Funds Ongoing l)•slgnahd 2024 2023 2141 IncomlThJ resources Irom donallons and legacle Donati¢n$ an4 gifts L8UaC¢85 75,OL 893.$93 293,396 1,261.989 1,590,803 3.100 3.100 14,500 75.oc 8g6.693 293. 1.285,089 l.eOS,1 21bl IoM6 from inv•stm•nls Interest recerv•W? 512 1,938 127 2.577 3.396 Rental income 29 845 29.645 11,016 S12 31,583 127 32.222 14.411 21cl Incorn from ¢harhabl• a¢tfvltl•J Greyfrkqrs Athum bookshop friar5 Atrium coffee s 46,1 46,lJ6 105,270 49,678 105.270 115.107 IS1.426 151.426 164.785 21dl In¢omlng rnsour¢os from oporntlonal oct5vlti08 Gr¢ friars MiThstries Limited 1.080.508 1.080.508 1.080.S)8 1.D23215 1,023215 1.080,508 21•1 Otl*r Incomlng rgsour¢ Hiring fees Church a¢thvil 99,152 99.152 56,854 23.807 23.607 30,685 In$uran¢e dains Profrt w disposal of fixed assets Mlscellareou8 In¢omo 233.026 233.026 1.398 1.843 13.888 357.183 101,405 TOTAL IfrKOMING RESOURCES 7S.512 2,517.393 293 968 2.888.873 29)8919 15
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS. READING NOTES TO THE FINANCIAL STATEMENTS Icontinuedl YEAR ENDED 31ST DECEMBER 2024 . RESOU EXPENDED Re5trictod Unrestrirted Fund$ TOTAL FUIIOS FundB On9olng Desl9nated 2024 2023 31al Charitable iJrènl5 lall InEtitulion•ll General Gi•nl$ Dooi ol Hope CCA (Christian Cornmunily Acthjnl Yeldall Idrng181eohol rehabilhalion CIRDIC (Churche¥ In Readin9 Drop in Cent) Reath'ng Schools WNker Ischods oulreachl Mustard Tree 6.824 6,824 5,520 18.670 16.67D 14.501 14,50) 12,120 14.878 14,878 2.$59 2,559 2,160 11,942 11.942 525 8.725 Frontline 3.412 3,412 2,900 Tr8n8lorm ReaOThJ Engage Befriending CPAS 2.900 750 1.260 3,240 4,$00 PACT- Alana House 3.668 3.668 3.4L FAITH Ifeedmg Ihe homeless1 Fusts)n 9,042 9,042 3.323 Refugee fund Chapter 2 RE-Inspir¢d Olher locally basedts_rojects Total GÉn8ral Grants 3.0 2,)0 2.250 4,26S 4.265 3,8(J) 1.962 1.962 1.000 $25 101,123 Re8trlcted Unr•stri¢tgd Fund TOTAL FUNDS Fund• On90ing Designated 2024 2(123 jla Chartlablo grants_1811 institutionall_ Redev•lopmw)t Gran¢$ R¢•din9 Galeway Church MLb8rii Joy Foundation LearnlnAk)r LlvlnA Edvcalional W811aro Tnjsl T¢t•l Redevelopment Grants Totsl Grnn¢s 24,320 5,OLX) 12 000 101,123 107 078 Grants from the *$tgn81gd fjJnd are thargo¢J agaknst the General Tilht Fun¢J. the Rèd•veloprneni Tithe fund oi Ihe Rodgvelopmènt Fu)d as shown In note 11.
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING NOTES TO THE FINANCIAL STATEMENTS lcontlnued) YEAR ENDED 31ST DECEMBER 2024 URCES EXPENDED ntinued RostriGtvd unstrICted Fundg TOTAL FUNDS Fund• Ongoing Dè8lgrtat•d 2024 2023 bLSupport ¢ost• ft>f charllabl• •ctlvitks PJri$h Shar• 144.053 144.053 144,180 Slaff c051s 199,583 199,583 272,735 Both end cDffee ihop wrchase5 64.936 64.936 T2.8 Church activtties 44,082 44,082 $5,018 Pr¢yrty costs 290.452 5.206 295,658 211,783 Oepred8twJn 295,211 295.211 164.434 0ih.qr ex 9.511 12.528 1,044.202 1 053 034 931 724 31¢LSu rt co•ts lor op8ratlonal act1vi•B Grnylriaws Ministrfe$ Lt 085 1,03 922 944 Govemanc• Gosts Staff eo61s 543 278,688 277,231 184,15S Office expense$ 38,063 38.(3 47,89 OperotlNJ lÈ•$e poym¢nt$ 27.34S 27.345 34,037 P(olession81 lee& 9,2C6 14.895 Auditorfs r•Muration 11,396 11,398 9,968 Bank charges and intwesl 4,607 4.607 5.508 B&d deb1$ 543 367 305 367 848 296.479 TOTAL RESOURCES EXPENDED 108,695 2 5S7 090 2 258 225
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS. READING NOTES TO THE FINANCIAL STATEMENTS l¢ontlnued) YEAR ENDED 31ST DECEMBER 2024 4 STAFF COSTS Grnylrla PCC MSnistrie8 Ltd Total 2024 2Q23 WAg•s and 6alari•s S181 Security costs Penslon costs 434.380 71S,141 1.149.521 I,ose,0g0 27,076 46,302 73.378 62,117 12.493 14,3e8 26.881 23.58D Exp¢n6es Tot81 Staff CoBIg 2,88S 2,885 2,851 476,M4 775,811 1,252,625 1,146,628 Avernge nwnbtr of employ0•8 28 62 5$ ) employe8 e8ined In ex¢888 01 £60,Oc. No paymenls have been made to members ot Ihe PCC. nor any person conrded whh tM in the exercBe of their duVe$12023.. P411. No taxable eXnSeS have en pald lo staff membetS. Pen$lon Coaii.. Th• PCC op•Ml•s a dèfined contributlon pen$ion stheme. The agsets of Ihe schtsrne are hdd separ8lely Irom Ihose of the PCC in an Indepandenlly administ8rèd fund. CoTrlribulions totaling £2,19612023. £2.2011 were pawabb to the fund al the ye¥1 end. Th PCC made no ¢onlribul*on5 during the year in respect of member8 of the PCC.
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING NOTES TO THE FINANCIAL STATEMENTS Icontinuedl YEAR ENDED 31ST DECEMBER 2024 S TANGIBLE FIXED ASSETS Freehold land Leasehold and BulliJln99 improvements CONSOLIOA TED Equipment Tolal Cost Al 1 January 2024 Additions 10,386,623 824.750 11.211.373 167,939 13,939 25.237 207.115 IBo,(M)o SP0S31s At 31 December 2024 180,0(K)I 10,474 S62 13,939 849,987 11,338,488 D8pr8ciation Al 1 January 2024 Charg for the year At 31 December 2024 1437.6281 1404,2881 1841.9161 188,0321 1625,6601 Y,848,902 9.948,995 898 1110.629) L614.9171 335,070 420.462 99.359 16981_ 11,141,275) 10,197,213 10 369 457 Net book 4D70unt at 31 December 2024 Nel book amwni at 31 December 2023 pcc Freehold l•nd and Bullding8 Equipnwnt Toi81 Cost Al 1 J8nvary 2024 Addi1[S 10.386,823 733,068 11.119.6S11 167.939 21,g47 189.886 Disposals At 31 0eémber 2024 180.0(K)} 10.474,562 I80.0} 11,229.577 765,015 DOP10¢10n Al 1 January 2024 Charge fry the yeai At 31 Oecemb&r 2024 1437,6281 1188,0321 1625.6601 9,848,902 1316.6781 1107.1791 1423.8581 331.15T 1754.xfjl (295,211 11.Q49,51TI 10.180.060 Nèt book amount at 31 December 2024 Nel book amount al 31 December 2023 9.948.995 416.3 10.365,385 Amounts Included In Freehold Land & 8ulldinas In 20CQ Ihe loimer vicarage. 84 Friai Stieet. was purchased by the PCC and subsequently leasgd lo Greylriais Ministries Ltd. a wholly owned subsidiary of Greyfriors PCC, at a rnmercial rate for use as a day nursèry. The bullding 1$ in¢luded wiiiiln ffxeé a6$et$ at 115 impaired value of £525.000 as at 31 December 2006 Two rèsidaniial pmperties. that are Included abov¢ ai cost, used lor clergylslaff housing. 26 Pr05P8Ct Street (purchased 19891 and 72 York Road (purGhased 19981. wer& valued on 191h November 2020 al £365,000 and £315.000 iespectively Durin9 De¢ember 2024 72 York Road was sold. repr8sented by ihe disposal shown above. 2 & 4 Sackvill? Streel were purchased April 2017 8$ Part of the on90ing redeveloprnenl of the Ghurch grounds and 8re included above at Cost. Anothei pfoperly w85 purGha$ed in Mafch 2018 anLI 15 currently renled out It was valued on 191. Noven)bei' 2020 81 £295.000 and this is also included above 31 cost Ounng 2021 the oflgiTral 'Greyfri¥rs Centre. wa5 dernolished lo make way for tha new Centr8 (Phase 2 0( Ihe redèvelopmtnll Cosls DI £6.029.031 were inGr in 2021 2022 and 2023 In resp&Gt of this. Furiher additional Costs in 2024 in respeci ol Phase 2 of th8 devebpmenl ol £167,939 are showrb Èbov8 In additions. 19
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl YEAR ENDED 31ST DECEMBER 2024 6 DEBTORS Consolldated pcc 2024 2023 2024 2023 Incomo Tax recoverable 25.067 31.084 25,067 31.084 PpaymentS and accrued interesl Other debtors 11.916 9.904 8.783 8,148 339,026 367.368 352.828 377,443 Donalion8 due ffom Greyfriars Minisliies Ltd 30,0(KJ 376,009 408,356 386,676 446,675 7 SHORT TERM DEPOSITS Short-lerrn deposits represent funds on ¢Jeposil with Lloyds. The avwage rates of intereit reeeivel on the$e were 1.1 %. 8 CREDITORS . AMOUNTS FALLING DUE WITHIN ONE YEAR Congolldal¢d pcc 2024 2023 2024 2023 Accruals 46.040 7,179 54.680 40,230 45.324 Dofetred intne 15,511 7.179 15,511 Creditors IOT good$ and $etv¢e$ Olhor ¢dI101$ 63,422 67,710 30.776 30.657 253,347 281.645 212.568 238.937 369.988 419,546 290,753 330A29 Deferred income represent5 k)ans and granls wh are ie¢ognbgbk8 as incomB wrthin one year. PROVISIO SFO LIABILITIES AND CHARGES Con$olldatsd pcc 2024 20Z3 2024 2023 Daferre(l Tax 89$el 116,0011 {8,2681 10 CREDITORS DUE AFTER ONE YEAR Consolidtèd pcc 2024 2023 2024 2023 Loans pay&le Oelerred grant income (not¢ 19} 1.824,$84 2.073,737 1,824,584 2,073,737 185,739 2,010,323 104,140 2,177.877 1,824,584 2,073.737 Govemmenl grants are recogni8ed al the fair value tslthe asset reCed or receNable when there is f6cble a¥Srn¢t that Ihe 9rafrt condilions wil be met arKI the grants wlll be receNed. A granl thot $pg¢1fièg performance condlbons b r¢¢o9n55¢d in income when Ihe perfomiarKe conilitions are met. Where 8 gr8ni dots not sp8ufy performan¢e condilions it is re¢ogni5ed in tncome when Ihe proceed$8re recoiwd or re¥ble. A granl re before the COgnItion crileria are s?tisfied is recognl&ed as a liality. 20
PAROCHIAL CHURCH COiINCIL OF GREYFRIARS, REAOING NOTES TO THE FINANCIAL STA TEMENTS {coDtlnuedl YEAR ENDED 318r DECEMBER 2024 11 FUND DETAILS Consolidated On ol A¢tlviti•• Re8trlcted Deslgnate(I Fund• Fund8 pcc GML TOTAL UNRESTRICTeD FUNDS Balance broutht 10Th¥4rd swplU1d•rItI for yegr Gffts re¢elved 549,659 6,088.921 547 8,639.127 89.695 120,1551 69,540 75.000 293.396 368.396 Inl¢resl rec6Ned 512 127 639 Mlsco118rous mcome 445 Grartii pald Davelopmèni 818 Transfer in SpeCt ol fixed asset addiuons Trnnsfer in respeel of lo rep8ymontA Oeneral Tbth8 transler 15431 199.8631 18,8321 {1C4),4081 18.8321 1174,1101 174.110 {465.C#JO} 465,t 96,780 169.2801 17,5C4JI B&lan¢p c8rrlBd lorward 192 602 8 728,446 (19,6081 8.968,9Qg_ pcc UNRESTRICTED FUNDS D681 nated Funds R0$trlcted General Re010P. Red•velop. Funds Tlthe Tlthe Fund Sub- Tothl Ongoing A¢tS¥lUe¥ TOTAL Balan brougm loward Surp1 foryear Gift¥ R¢¢&Ned 41,895 116,674 391.090 549.659 8.088,921 8,638.580 89,695 89,695 75,OC(I 368.396 368,396 Redevelopmènt Gifl Tithé Inleresl recelved 29.340 P9.340) 127 512 639 839 Miscd18neous IT)m 445 445 446 Gran1$ pald l)tsv•lopment costs Transfer in rnspe¢t of fixed asset addilk)ns Transfer In fesFct of lo) ropayments General Till Iransf81 15431 (99,8631 1100.4081 18.8311 110J,4C61 18,8311 (8,8211 {174.1101 1174,1101 174.110 1465.000 {465,0001 89.280 495,C 7.500 96.780 L8Y,280 8 72B 446 8 988 S18 Bal4neè ¢arrfod lorw•rd 146,014 260,Q72 The rnmaining Redevelopmenl Fund is exp•¢ted 10 utHised to meel residual costs and loan repaymen associated wSlh thè Atriurn and new Greyfn'ars Contre development C05t$.
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, READING NOTES TO THE FINANCIAL STATEMENTS Icontinuedl YEAR ENDED 313T DECEMBER 2024 ND DETAILS Continu& The GeneFal and Rede¥elopmeni Tilhe lunds represent the balance of monies allocated by the PCC for giving lo outside charilies, whKh has not yel been GQmtnitted. The PCC adop18 a policy of allocaliThJ I0¥0 Df dl'giving. income foi lithing, <1nd J PfQPQrtion of Ihis is paid oul during Ihe year. The same policy hès been adopted in iespcct ol Ihe incorne frorti the R8developMenl Fun4Y, exp1 th81 the lithe is nomially allocated to cawtal proje¢ls, Tr)sfer3 may be rnade trom lime to time lo account for rtKed assels addl1n8 that ha¥8 been funded by designaled funds al Ihe p(xnl that the value oflhese becornès general. ongolng funds. Included witlm'n general ongoing funds 1$ a'Refugee' fund sel up in 2019 The balance trOught forward wa$ £12,101.. income was £10,221 and cosls during thg year were £9,542. The baL2nce cairied lorwaFtI wa$ £12.779. The ReStrle fund rd41e$ to a donation Ihal was speU(allY pravided ID lund the Fwvision of some admiStrative support for the clergy lor a Ihree-year period. 12AN Iso ET ASSE BE WEEN F NOS R•$irlcted Funds G¢ngral Fund$ D¢$lgn8ted Funds Total Fund balances at 31 Déetmber 2024 are.. Tangible fixed a55elS Cuirenl 858els 8.172.830 2,024.583 192,802 10,197,213 07.469 875,935 1,138,cK)6 1369.9881 Crèditoi&.' amounlg lalling ¢Jue wlihin one year Crediors.' amounts lall due after ont oar 1169.9881 169739 {200,COJI 1824 $83 1,994.322 8 708 838 192.602 R•8trlcted Funds General Funds Do#lgnated Funds Total Fur¥J b81ances At 31 Deeember 2023 are.. TaThJible fix•d ass•ls Current assets 8.070,720 2,298.737 549.659 10.369.4S7 309.168 858,627 Crediior8.' amounts lalling due within one year Creditors.. wnounls tsllirrfd due after ¢ear 1194,5461 (95.8741 1225.IM)01 .073.737 {419,5461 12 169.611 8 089 467 549,6S9 8,639,126 13 FINA OMMI NTS Op•rating l*a$• rornmitmet)ts As al the yeai end. the PCC had oul$lènding commitment¥ lor fvlur¢ minlmum le98e payrnents under non.&gncgllable opefating leases were as follows.. Conwll4ated and PCC 2024 2023 Land & 8ulldings Other L4nd & Bulldlng• other 2S.309 16A94 70,133 9,388 ??
PAROCHIAL CHURCH COVNCIL OF GREYFRIARS, READING NOTES TO THE FINANCIAL STATEMENTS Icontinuedl YEAR ENDED 31ST DECEMBER 2024 14 RELATEO PARTIES Greyfiiars Minisiries Ltd Is a company I141ed by guaraniee. wholty owngd by the Porochial Church Council. Thg gu31anlee for Greyfriars Ministrie5 Lld. wtNch is limiied 10 £1 in the event of Ihe company being wound up. is therefor8 Pfoviiled by IhÉ PCC Ttte Irading iesults ol &eyfriars Minislrips Lld for the year hae boen ClS01131ed in these financial 5talefflenls. A 5wnmary of Ih8 IrJing resulis of Greylriars Minislries Limited is iDclLKle(J in Note 15 10 these finala1 slalement5. Advantage has been 18k¢n ol Ihe felated party dr•cb$ure exemplirpn in Fespect of Iransactions enle inlo b?fyve8n men)er$ ol a group The PCC rents s property and C•nlre from New Hope Tiu$l wlN"th the PCC Conse1$ 10 be a related parfy. PrDpefly rental incurred In 2024 was £10.44012023.. £8,6401 of which £1.44012023. £8,640) was reimtxjrsed by Ihe Diocese. The annual rent lor the Centre was £25.90512023.' £25.3971. 16 TRAOING SUBSIDIARY Greyfriars IAinislries Limiled is a OllY owned sub$i¢Jkqry ol the PCC controlltd 3$ dClOSed abo¥e in note 14. The company providès nurséry f8¢11it18s lai thildren In th8 Re8ding area The results have been eonsolidaled in the PC¢'¥ Stsi¢menl of Financial Activi1185 and Balance Sheet. The Iigures below are Iroin ils finallc1 sialemenls. 2Q24 2023 Summary PrOt and Losg Acco1 Turnover 1,080,507 1.023,216 Cosi of Sales 1816,202} 264,30S 1293.8381 {682,261) 340.9SS Prolll Adminislralive Expenses Opèratlng ILossllProflt Other inièrtsl recefvabK8 8nd similar income 1334.S8SI e,370 129,5331 1,644 1,374 ILos$y Pioflt on ordlftary actlvltle$ before tAxatlon TaK on Ofit M ordinary aclivilies IL088IIProllt for the perlod 11 127.8891 7,734 7,744 {2,1571 5,587 2023 120,15SI 2024 Summ•ry BJl•n¢e Sheet Tanglbb Ass•ts Cvrrenl A86elE 17.IS4 4.072 6,211 193.235} 132.976 224,791 {132.442 Curr¢ni Li4bilities N•t Currenl A$sets 92,3d9 Provlslon lor Llablllti 16,001 8.287 Credltors - arnount flllng due In over one y2ar Total Repre$entlng Membeys Funds 1185,7391 119.8081 1104,1411 547 The resu16 for Greyfriars Mintstrie5 Llmlted should be read hovin9 regard to thè donalion FKlicy s•1 oul In the )¢Unting poIIci?s (Not¢ 1.51 2.1
PAROCHIAL CHURCH COUNCIL OF GREYFRIARS, REAOING NOTES TO THE FINANCIAL STATEMENTS {contlnuedl YEAR ENDED 31ST DECEMBER 2024 AUDITORS. E HICAL STATEMENT The relevant cir¢um8iancés rèqulrlng discfosure in a¢cordance wilh the r¢quirern•ni$ of the APB Ethical Standard Provisions Available for Small Entilles ale Ihal, in common with many chari1185 01 our size and Thalufe we use our auditors to provide tax advice, rèpresent us As necessary ai lox Irlbunals, prepare 5ubmil returns lo the lax aulhorilieg and to assJ91 wrth the prepar8tKJn of the fina19181a¢éMenl$ 17 CONTINGENT LIABILITIES Thore were no contiTrJenl liaknlit5 Wtslanding at the baL8ffice iheet date. 18 COMMITMENTS A$ ot 31st 2024 the forecast out tum contractual commitmenl for Freehold Land 8nd 8uiléin9s Ilhè new Centi81 contra¢ted for but not prDviéed In the finanrial staternernls amounled to £5,781.394 01 which £5.751,394 has already been paid 12023- £6,737.630 olwhlch ES,830,353 h¥$ aldY been paid). OVEMENTS IN GRANT FUNDING FOR THE YEAR 2024 2023 Gtant (Mrnents brght foThvaril at 1 January 2024 Grant fundlng recelved dunno the ye Grant funding r•l&ased against spending dwing the year Oef•rr•d Grnnt fundlng ¢•rrled fomrd 104.140 74,667 S68,941 440,906 1487.3421 18J,739 1411,4331 104.140 . CASH GEN OMOP TIO 2024 2023 Surplug forthB y•ar Adjustm•nts for. DepreoatK)n of lang1 fixad assets Profil on di5po$AI of ffixed assets 329.762 650.694 299,358 168,436 1233,0261 12,677) Inloresl rgIVed I3,} Movements In warklng eapltal: Oerxease in 8toc4$ 3.838 3,646 Decrease h deblors 32,347 124.5571 73.865 397,183 Decrea8e ¢redilor8 {27,6741 31.631 Incre85e in ¢rditor$ du¢ after one year Cash g•n•rated frun wratlons 479.030 1.220,700 24