Registered Charity No: 1129388
**Parochial Church Council of St Michael & All Angels, Summertown, Oxford**
**Report and financial statements**
**For the year ended 31 December 2025**
**ANNUAL REPORT AND STATEMENT OF FINANCIAL ACTIVITIES AND BALANCE SHEET YEAR ENDING 31 DECEMBER 2025**
## **CHARITY NAME THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL & ALL ANGELS, SUMMERTOWN, OXFORD**
## **CHARITY NUMBER 1129388**
**TRUSTEES** The Revd Gavin Knight Nigel Hamilton (until 26 February 2026) Graham Kerr Catherine Lack Lesley Noakes Ikenna Okoli Patrick O'Meara Jonathan Scheele Ann Stedman Michael Taylor Emma Wilkinson
**BANKERS** CAF BANK LTD BARCLAYS BANK PLC CCLA INVESTMENT MANAGEMENT LTD MANAGING THE CBF CHURCH OF ENGLAND FUNDS
**INDEPENDENT** Mrs H C Fanthome **EXAMINERS** KING LOOSE & CO **REGISTERED** ST MICHAEL & ALL ANGELS CHURCH **ADDRESS** LONSDALE ROAD OXFORD OX2 7ES
Page 1
**St Michael & All Angels, Summertown, Oxford Registered Charity no. 1129388 Report of the Parochial Church Council for the year to 31 December 2025**
## **Administrative information**
St Michael and All Angels Church is situated in Summertown, Oxford. It is part of the Diocese of Oxford within the Church of England. The correspondence address is St Michael & All Angels Church, Lonsdale Road, Oxford OX2 7ES. The website is www.stmichaels-summertown.org.uk.
The Parochial Church Council (PCC) was registered as a charity with the Charity Commission on 5 May 2009 with the number 1129388. The full charity name is THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL & ALL ANGELS, SUMMERTOWN and the working name is ST MICHAEL'S SUMMERTOWN PCC. PCC members are also trustees of the charity. PCC members who served during the year to 31 December 2025 were:
Vicar The Revd Gavin Knight (Chairman) Wardens Graham Kerr Patrick O'Meara (from APCM 2025) Jonathan Scheele (to APCM 2025) Representative on Irim Sarwar (to 14 September 2025) the Deanery Synod Ann Stedman Lay members Nigel Hamilton Catherine Lack Lesley Noakes Ikenna Okoli Jonathan Scheele (from APCM 2025) Michael Taylor Secretary Emma Wilkinson Treasurer William Black (ex-officio member of PCC) Building & Fabric Team Steve Hunter (ex-officio member of PCC) Part-time Associate Priests The Revd Dr Nicholas Bradbury The Revd Mary Gurr The Revd Alyson Peberdy The Revd Anastasia Ryabchuk (Curate from July to October 2025) The Revd Peter Silva (from November 2025) The Revd Dr Susanna Snyder
## **Structure, governance and management**
The method of appointment of PCC members is set out in the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.
## **Objectives and activities**
St Michael’s PCC has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It has the maintenance responsibility for the church and gardens of St Michael’s and responsibility for the maintenance and operation of St Michael’s Church Hall, which is situated in Portland Road, Summertown. When planning activities for the year, the incumbent and PCC have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. 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.
## **Church attendance**
The Church Electoral Roll was renewed in April 2025; there were 85 people on the roll as presented to the APCM in May 2025 (99 in 2024).
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## **St Michael & All Angels, Summertown, Oxford Registered Charity no. 1129388**
## **Report of the Parochial Church Council for the year to 31 December 2025**
## **Review of 2025**
## **Governance**
The PCC met seven times in 2025 (19 January, 16 March, 27 April, 18 May/APCM, 20 July, 14 September, 16 November). Much of the focus in the latter half of the year was on a forthcoming interregnum which didn’t in the end take place. Each meeting focussed on a particular theme, namely: De-carbonisation/Building & Fabric, Community outreach/engagement, Finance, Safeguarding/Health & Safety, Spaces, Budgeting.
## **Personnel**
In 2025 the Vicar, the Revd Gavin Knight, was supported by The Revd Dr Nicholas Bradbury, The Revd Mary Gurr, The Revd Alyson Peberdy, The Revd Peter Silva, The Revd Dr Susanne Snyder, and The Revd Anastasia Ryabchuk who served as Curate in Summertown from July until October when she moved to partnership church St Peter’s Wolvercote. During 2025 our Vicar Gavin Knight was offered but declined the post of Archdeacon of Buckingham, preferring to remain in Summertown. The Parish rejoiced. He continues as Area Dean of Oxford, a role he fulfils alongside his Parish ministry work. Contractors Paul Sawyer, (Caretaker), Ali Jones (Spaces Manager) and Caitlin Beswick (Parish Administrator) continued to work on a freelance basis during the year.
## **Worship & learning**
Regular Sunday morning services were held throughout the year, with All-age worship on the first Sunday of the month, High Altar Eucharist with incense and a ministry of healing on the second Sunday of the month, and a Godly Play session for children running concurrently with the main service on the third Sunday of the month. Sunday morning worship was augmented by a 30minute meditative service of Taizé or Silent Prayer on Sunday evenings. Morning Prayer was said every Monday to Friday throughout the year. The devotional practice of Stations of the Cross is an important part of the Church’s Lenten commitment; and in 2025 The Vicar presented a series of Lenten teachings during Sunday Eucharist on aspects of the liturgy: the Gathering, Prayers of Penitence, the Peace, the Offertory and the Dismissal. A midweek Lent Group studied “Lent in plain sight” by Jill J Duffield, and the book group continued to meet in the Threshold on Thursday mornings during the year to study various texts. In 2025, during continued nationwide debate around the Living in Love and Faith agenda, St Michael & All Angels remained an official member of the Inclusive Church Network, to demonstrate to the local community that it is a church "which welcomes and serves all people in the name of Jesus Christ; which is scripturally faithful; which seeks to proclaim the Gospel afresh for each generation."
## **Communication**
The Church’s website (www.stmichaels-summertown.org.uk) was regularly updated with news and links to recorded services and sermons; in 2025, APCM documents were made available online to reduce the environmental impact of printing. The Vicar circulated his weekly email blog to approximately 360 people and the Church continued to have a social media presence on Facebook, Twitter, and Instagram. In 2025 St Michael’s began a listening exercise, initially called The Gambit and later renamed Tomorrow’s Church, to develop a Parish 5-year plan with input from community and church stakeholders.
## **Buildings & Garden**
The Building & Fabric Team continued its work looking after the Church, Hall, and Aldrich Road house. In addition to extensive routine maintenance and servicing tasks, the Team worked on plans for decarbonising the Church. Additionally, it oversaw the installation of a defibrillator at the Church Hall, funded by the local community. In 2025 repair works to the unsafe western perimeter wall were begun. The Gardens Team worked on enhancing the garden, including organised regular Work Parties, some of which included Ukrainian guests from the Friendship Centre, and students working for their Duke of Edinburgh awards. Church garden guide/information sheets for each season are to be found under the Lych Gate. To further develop bio-diversity, the Church observed ‘No Mow May’, and has blue/great tit bird boxes, bat boxes, swift boxes, a hedgehog hibernation box, solitary bee boxes and bug houses installed. On the first Sunday in September, the morning service dedicated to Creation Sunday was held in the Church garden.
## **Music and Organ**
During the year, the Church Choir had a full programme of musical activity, singing on Sunday mornings and at three Choral Evensongs in March, July and November. In addition, the Choir sang a Sunday morning Choral Matins in June 2025, the first such service for several years. In August 2025 the choir visited Gloucester Cathedral to sing services there for a weekend. The Christmas Carol Service was a choral highlight of the year. Duncan Saunderson continued as Director of Music, Duncan Angwin as Organist, and Alice Stainer led the St Michael’s Choristers in weekly term-time rehearsals and monthly contributions to
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## **Review of 2025 (continued)**
worship. During the year, the Fr Henry Willis pipe organ failed and during initial remedial repairs, several major problems were found requiring extensive restoration. A fundraising programme was launched, and a process initiated to scope the work required and identify the best firms to undertake such work.
## **Partnerships**
St Michael’s is a founding member of both the Cutteslowe Church Partnership and the Summertown-Wolvercote-Wytham Church Partnership. Partnership activities in 2025 have included the Pavilion Service in Cutteslowe, a Lent quiet day, a Corpus Christi Eucharist at St Michael’s followed by lunch, several partnership nature walks, a lecture series (three Spring lectures on inclusivity at St Peter’s and an Autumn lecture by Reith Lecturer Dr Gwen Adshead at St Michael’s), PEG open meetings, pulpit swaps on Mothering Sunday, Coffee Cafés on Saturdays in Summer, a Harvest Supper (in 2025 at St Peter’s), and a joint Advent Carol Service (in 2025 at St Peter’s). Links are also maintained with St Michael’s linked parish of Taung in South Africa with regular exchange of news. Arthur Franklin, the St Andrew's Youth Worker in Cutteslowe was on placement in St Michael’s for the Easter Season 2025.
## **Community**
Throughout the year, the congregation continued its monthly collection of items for the Community Emergency Foodbank and Cutteslowe Community Larder, participated in the Oxford Historic Churches Trust Ride & Stride event, supported Oxford’s homeless charities, and organised a big campaign during Christian Aid Week. The ECO-Church team continued to develop and expand “reuse, reduce, recycle Sundays” and ran an ECO-themed lending library. David Smith ran a fairly-traded goods stall after Sunday services, well supported by the congregation. The Baby & Toddler group met throughout the year on Tuesday mornings and welcomed a dozen families to each session on average, facilitated by a group of half a dozen volunteers. Once a month on a Saturday morning, a group gathered in Church for food and fellowship at a ‘Men’s Breakfast’ and participants included a mix of members of the congregation and local non-church-goers. The Church hosted an Artweeks exhibition by six artists which enjoyed a footfall of more than a thousand visitors. In Summer 2025, St Michael’s hosted a ‘holiday at home’ event for seniors, one of a series of dates organised and shared among north Oxford churches. Following the Russian invasion of Ukraine in 2022 and the consequent arrival in the UK of many Ukrainian citizens, St Michael’s established a weekly Friendship Centre to support them. This has operated weekly ever since with the support of a cohort of volunteers drawn from throughout the local community, including students from St Edward’s School. On an average Wednesday, between 40 and 50 Ukrainian guests are welcomed for practical help, advice and support, home-cooked food, supervised children’s play, and the opportunity for social interaction. The Ukrainian community is now looking on St Michael’s as a hub, and Ukrainian leaders are emerging who are themselves organising activities based in Church: a weekly choir rehearsal, an Easter celebration, a party for Ukrainian Independence Day in August 2025, and a Christmas event for Ukrainian families. A new community initiative was initiated in June 2025, Monday Night Food and Friendship, serving a free hot meal in church weekly for those who need it. The project was prompted to serve those living in Summertown’s EasyHotel waiting for council accommodation but has widened out to support a broader community. In December 2025, guests of the Ukrainian Friendship Centre and of the Monday Night project joined together in Church for a free traditional Christmas lunch, cooked and served by volunteers from both projects.
## **Financial review (unrestricted fund)**
_Surplus:_ The fund ended the year with a surplus of £13,501 (2024: £23,284). [Note: the _restricted_ funds ended with a deficit of £2,887 (2024: deficit of £1,999)]
_Income:_ At £204,681 (2024: £192,955) income was boosted by a £5,000 legacy from the estate of Anthony Loehnis. Stewardship giving dropped by around £5,000 from 2024 but was compensated by an equivalent increase in plate giving. Church, Hall and Aldrich Road lettings added to the increase.
_Parish Share:_ The PCC resolved that the Deanery’s proposed £81,038 for 2025 was excessive, being an increase from £63,000 in 2024. It initially committed to paying £72,000 but as the year-end approached, sufficient funds allowed us to pay an additional £3,000. Agreement on a new model to re-align all of the church shares within the Deanery was reached during the year and the PCC resolved to contribute £75,000 in 2026 having been requested to pay £77,764.
_Expenditure:_ At £191,180 (2024: £169,671) the increase in expenditure was due to the Parish Share being higher than in 2024, and also the costs for utilities, personnel, music and IT increasing in line with national inflation. We had no major maintenance or repair costs in 2025.
_Investments:_ There was a loss “on paper” of £5,658 (2024: gain of £3,358) in our CCLA investment funds. Investment gains/losses depend on many (global) economic factors beyond our control and would only be crystallized if and when the investments are sold.
_Reserves:_ At £759,168 (2024: £754,230) the balance sheet continues to be tied up in the larger restricted funds, the Aldrich Road house (£559,277) and long-term investments (£143,057). This leaves around £56,000 in working capital to manage monthly income/expenditures of around £15,000 to £20,000.
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## **Review of 2025 (continued)**
_Commitments:_ Out of the £60,000 costs for cleaning, repairing and enhancing our Father Willis organ, around £50,000 is committed for expenditure in 2026 [see comments on restricted funds below]. Also committed for 2026 is a substantial refurbishment of the Lower Hall toilets and kitchen at approximately £12,000 (partly shared with Montessori North Oxford). The PCC also agreed to underwrite completion of the stalled re-building of the west boundary wall (partly shared with the neighbouring owners).
## **Mission Giving**
Donations made at the Christmas 2025 Services were designated for Dragon Oxford Aid to Ukraine and Christian Aid’s Gaza Appeal. In the former case, £309 cash donations were processed by the Church and credit card donations went directly to Dragon Oxford Aid to Ukraine, resulting in a total raised over £1,000. For the Gaza appeal, the reverse: the cash went directly to Christian Aid and credit card donations of £293 were processed by the Church. The total donated to the Gaza appeal was in excess of £1,700.
## **Funds**
_Unrestricted funds_ may be spent on anything that is within the charitable objects of St Michael and All Angels Church. Our continued practice is to hold some of the reserves in a designated Outreach Fund.
The _Organ fund_ is held for its refurbishment and development. Fund-raising in 2025 added to a long-standing £390. The increased fund was used in its entirety and a transfer from the general fund needed for the first stages of the repair, cleaning and enhancement work. As the work continues in 2026 there will be new fund-raising initiatives.
The _Garden fund_ was originally established from a grant received from Oxford City Council’s Community Impact Fund and other smaller donations. It made disbursements of £1,353 in 2025. A further donation of £1,000 was added to the fund in memory of the late Margaret Clarke to be used specifically for the new flower bed.
The _Ukraine fund_ created in 2022 to support the Ukrainian Friendship Centre at St Michael’s, continued to receive donations: £1,150 (2024: £3,213) and disbursed £5,100 (2024: £4,461) during the year. The fund goes into 2026 with a balance of £2,331.
In 2024 we offered to hold the cash reserves of the _Taung Link fund_ . The Summertown Wolvercote Wytham Church Partnership (PEG) maintain a link with sister church St Chad's in Taung, South Africa. It has collected funds to support this link. The fund stands at £2,180, with no further disbursements in 2025.
_Food & Friendship fund:_ An Oxford City Council grant of £2,000 together with other private donations has enabled a new initiative of inviting guests to a meal on Monday evenings. Aimed at people in council care looking for accommodation, it helps them eat well and socialise. The fund is used for extra utilities’ costs and waste disposal with the church providing accommodation at no charge.
## **Reserves policy**
It is the PCC’s policy to hold unrestricted reserves sufficient to meet its commitments and planned activities for a twelve-month period. This figure is estimated to be about £150,000 in a normal year. Net current assets now stand at £56,852 (2024: £46,239) are still below this sum and the trustees intend to re-build this reserve gradually on an annual basis.
## **TRUSTEES’ RESPONSIBILITIES**
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
- and prepare the financial statements on the going-concern basis unless it is inappropriate to presume that the charity will continue in operational existence.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Report of the Parochial Church Council and financial statements were approved and authorised for issue by the PCC and signed on their behalf by:
(Trustee) Dated: **15 March 2026**
Page 5
PAROCHIAL CHURCH COUNCILOFST MICHAEL&ALLANGELS. SUMMERTOWN. OXFORD
INDEPENDENT EXAMINER'S REPORT
for the year ended 31 December 2025
I report on the accounts of the charity for the year ended 315t December 2025, whlch a set out on pages 7 to 15.
Respective responsibilitie5 of the trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity'5 trustees ¢onsidei that an audit is not
requlred for this year under Section 144121 of the Charfties Act 2011 (the 2011 Act) and that an independent examination is
needed.
It is my responsSbillty to'.-
al Ematnine the accounts under Section 145 of the 2011 Act..
bl to follow the procedures laid down in the General Directlons glven bythe Charity Comrnissioner
under Sertion 14515llbl of the 2011 Act. and
cl to 5tste whether particular matters have come to my attention.
Basis of independent examiner's report
My exzmination was Carrled out In accordance with the general directions given by the Charity Comrnis5ioners. An eKarDination
includes a review of the èctounting records kept by the charity. and a cornparison of the accounts presented with those records.
It also includes consideration of any unusual items or disclosures in the account5, and seeking explanations frorn you as trustee5
concerning any such mattefs. The procedures undertaken do not provide all the ewdence that would be required in an audit,
and consequently no opinion is 8Sven as to whether the accounts present a'true and fair vlew. and the report is limited to those
matters set out in the statement below.
Independent examiner'5 statement
In connection with my exarnination. no matter has come to my attention..
111 which wves rne reasonable ¢ause to believe that in any material respect the requirements
to keep accounting records in accordance with Section 130 cf the 2011 Act.. and
to prepare accounts whlch accord with the accounting record5 and to tompty with the accounting requirements of
the 2011 Act
have not been met." or
121 to which. in my opinion, attention should be drawn in order to enable a proper understandin8 of the
accounts to be reached.
King Loose & Co
St John's House
5 South Parade
Summertown
Oxford
OX2 7JL
Mrs H C Fanthome FCA
Dated:
Page 6
## **The Parochial Church Council of the Ecclesiastical Parish of St Michael & All Angels, Summertown**
## **Statement of Financial Activities for the year ended 31 December 2025**
|**Notes**
**Income**
Donations and legacies
4
Other income
4
Total Income before investments
4
Income from investments
4
**Total income**
**Expenditure**
**Charitable activities:**
Missionary and Charitable giving
5
Ministry and church running costs
5
Other support costs
5
**Total expenditure**
**Net income/(expenditure) before investment gains/losses**
Net gains/(losses) on investments
**Net income/(expenditure)**
Transfers between funds
**Net movement in funds**
Balance brought forward at 1 January 2025
**Balance carried forward at 31 December 2025**|**Unrestricted**
**Funds ***
**Restricted**
**Funds**
**Total Funds**
**2025**
**£**
**£**
**£**
72,735
13,103
88,973
126,629
-
123,494|**Unrestricted**
**Funds ***
**Restricted**
**Funds**
**Total Funds**
**2025**
**£**
**£**
**£**
72,735
13,103
88,973
126,629
-
123,494|
|---|---|---|
||199,364
5,317|13,103
212,467
-
5,317|
||**204,681**|**13,103**
**217,784**|
||20
190,056
1,104|7,444
7,464
-
190,056
8,546
9,650|
||**191,180**|**15,990**
**207,170**|
||**13,501**
(5,658)|**(2,887)**
**10,614**
-
(5,658)|
||**7,843**
-|**(2,887)**
**4,956**
**-**
-|
||**7,843**
744,087|**(2,887)**
**4,956**
10,143
754,230|
||**751,930**|**7,256**
**759,186**|
All of the above results are derived from continuing activities. All gains and losses recognised in the period are included above. * £100k of the Unrestricted Funds was designated by the PCC in 2018 for eventual use for an outreach campaign. No movements were made in this designated fund in 2025.
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**The Parochial Church Council of the Ecclesiastical Parish of St Michael & All Angels, Summertown**
## **Statement of Financial Activities for the year ended 31 December 2024 – comparative figures**
|**Notes**
**Income and endowments**
Donations and legacies
4
Other income
4
Total Income before investments
4
Income from investments
4
**Total income and endowments**
**Expenditure**
**Charitable activities:**
Missionary and Charitable giving
5
Ministry and church running costs
5
Other support costs
5
**Total expenditure**
**Net income/(expenditure) before investment gains/losses**
Net gains/(losses) on investments
**Net income/(expenditure)**
Transfers between funds
**Net movement in funds**
Balance brought forward at 1 January 2024
**Balance carried forward at 31 December 2024**|**Unrestricted**
**Funds ***
**Restricted**
**Funds**
**Total Funds**
**2024**
**£**
**£**
**£**
74,923
6,077
81,000
113,382
-
113,382|
|---|---|
||188,305
6,077
194,382
4,650
-
4,650|
||**192,955**
**6,077**
**199,032**|
||200
-
200
168,415
-
168,415
1,056
8,076
9,132|
||**169,671**
**8,076**
**177,747**|
||**23,284**
**(1,999)**
21,285
3,358
-
3,358|
||**26,642**
**(1,999)**
**24,643**
`
-
` -|
||**26,642**
**(1,999)**
**24,643**
717,445
12,142
729,587|
||**744,087**
**10,143**
**754,230**|
All of the above results are derived from continuing activities. All gains and losses recognised in the period are included above.
* £100k of the Unrestricted Funds was designated by the PCC in 2018 for eventual use for an outreach campaign. No movements were made in this designated fund in 2024.
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## **The Parochial Church Council of the Ecclesiastical Parish of St Michael & All Angels, Summertown**
## **Balance sheet as at 31 December 2025**
|**Notes**
**Fixed assets**
Tangible assets
6
Investment assets
7
**Current assets**
Debtors
8
Short term deposits
Cash at bank and in hand
**Creditors:**
Amounts falling due within one year
9
**Net current assets**
**Net Assets**
**Funds**
Unrestricted general funds
12
Unrestricted designated funds
12
Restricted funds
12
**Total funds**|----------------**2025**-----------------
**£**
**£**
559,277
143,057
16,639
15,798
38,723
71,160
(14,308)
**56,852**
**759,186**
651,930
100,000
7,256
**759,186**|----------------**2025**-----------------
**£**
**£**
559,277
143,057
16,639
15,798
38,723
71,160
(14,308)
**56,852**
**759,186**
651,930
100,000
7,256
**759,186**|----------------**2024**-----------------
**£**
**£**
559,277
148,714
19,039
11,096
30,673
60,808
(14,569)
**46,239**
**754,230**
644,087
100,000
10,143
**754,230**|----------------**2024**-----------------
**£**
**£**
559,277
148,714
19,039
11,096
30,673
60,808
(14,569)
**46,239**
**754,230**
644,087
100,000
10,143
**754,230**|
|---|---|---|---|---|
||71,160
(14,308)||60,808
(14,569)||
||||||
|||**759,186**||**754,230**|
|||651,930
100,000
7,256||644,087
100,000
10,143|
|||**759,186**||**754,230**|
The financial statements were approved and authorised for issue by the PCC on 15 March 2026 and signed on their behalf by:
**………………………………………………….** The Revd Gavin Knight
**The notes on pages 10 to 15 form an integral part of these financial statements**
Page 9
**Parochial Church Council of St Michael and All Angels, Summertown**
## **Notes to the financial statements**
## **for the year ended 31st December 2025**
## **1. Accounting policies**
The Balance Sheet, Statement of Financial Activities and Notes to the Financial Statements relate to the Parochial Church Council of St Michael’s Church, Summertown.
The financial statements are prepared under the historical cost convention, with the exception of investments which are included at fair value. The financial statements have been prepared under the Church Accounting Regulations 2006 and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland - Charities SORP (FRS 102).
Council members have identified the major risks which may affect the PCC and have taken reasonable steps to mitigate those risks.
## **Funds**
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.
A policy of retaining sufficient unrestricted reserves to finance the PCC’s planned programme and meet its future financial obligations is maintained. The policy is reviewed annually by the PCC.
## **Income**
## **Donations and legacies**
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under covenant is recognised only when received. Income tax recoverable on covenants or gift aid donations is included when due. Grants and legacies to the PCC are accounted for when received.
## **Other ordinary income**
Rental income from the letting of church premises is recognised when the rental is due.
## **Income from investments**
Dividends and interest are accounted for when receivable and are received gross.
## **Gains and losses on investments**
Realised gains or losses are recognised when investments are sold.
Unrealised gains or losses are accounted for on revaluation of investments at 31st December.
The PCC has absolute discretion to invest the funds of the Parochial Council; no restrictions are placed on these
powers. The Council’s policy for the selection of investments for the charity is to seek to achieve a balance between income and capital growth and that the investments held have a low risk.
## **Expenditure**
## **Grants**
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
## **Activities directly relating to the work of the Church**
The diocesan quota or parish share is accounted for when payable.
Page 10
**Parochial Church Council of St Michael and All Angels, Summertown**
## **Notes to the financial statements**
## **for the year ended 31st December 2025 (continued)**
## **1. Accounting policies (continued)**
## **Fixed assets**
## **Consecrated land and buildings and moveable church furnishings**
Consecrated and beneficed property is excluded from the accounts by S.96(2)(a) of the Charities Act 1993. No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property.
## **Summertown Church Hall**
No value has been included in these accounts for this building, nor the land it is on.
The hall was built with stone and roof timbers from the original St John's Church (now demolished) in Summertown. Due to its age and provenance its value is not easily compared to modern equivalents and there are few older "comparators". It stands uniquely within the parish. The War Memorial lies within its grounds. As with the main church building the hall requires permission from the Diocese for disposal.
The lower and upper halls are approximately 90 and 123 square metres, and have toilet and kitchen facilities. The building and gardens are well-maintained and are in daily use for social, educational and religious purposes.
## **Other fixtures, fittings and office equipment**
Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.
## **59 Aldrich Road**
This freehold property is formally owned by DIOCESAN TRUSTEES (OXFORD) LIMITED, who hold it in Trust for the PCC of St Michael and All Angels Church, Summertown. It is valued as an asset at its purchase price of £559,277 (including £600 for existing installed white goods). The property will not be depreciated on the basis that it is held as an investment property in accordance with FRS 102, and thereby reflected at fair value, with revaluation surpluses or deficits being recorded in the Statement of Financial Activities.
## **Investments**
Investments are valued at fair value at 31 December 2025. Inter-year movements in fair value are reflected in the Statement of Financial Activities.
## **Current assets**
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.
## **2. Aim and Use of Funds**
## **Designated**
In 2018 the PCC decided to designate £100,000 of unrestricted funds for future outreach projects. This continues but with no specific proposals to date.
## **Restricted**
The Organ Fund is for improvements to and refurbishment of the Church organ. Funds are also managed for: the Summertown Wolvercote Wytham Church Partnership (PEG) for exclusive use in maintaining a link with a sister church St. Chad's in Taung, South Africa; Garden fund exclusively for the development and maintenance of the church garden, the fund for the Ukrainian Friendship Centre at St Michael’s for exclusive use in running the Centre, and a fund to be used in support of the Monday Food & Friendship initiative aimed at helping people in council care looking for accommodation.
Page 11
**Parochial Church Council of St Michael and All Angels, Summertown**
## **Notes to the financial statements for the year ended 31st December 2025 (continued)**
## **3. RELATED PARTY TRANSACTIONS**
No Trustee received any remuneration (2024: £0) in the year. No fees (2024: £0) were paid to any Trustee. Reimbursement for expenses to Trustees amounted to £360 (2024: £300).
## **4. INCOME**
|**Unrestricted Income**
**Donations and legacies**
Planned giving:
Stewardship giving
Income tax recoverable
Collections (open plate) at services
Sundry donations – unrestricted
Legacies - unrestricted
**Other income**
Fees
Church lettings
Hall lettings
Other fundraising events
Other income
Aldrich income
Repayments under LPOW scheme
**Total Unrestricted Income**
**Restricted Income**(Note 10)
Donations
Legacies
**Total Restricted Income**
**Income from Investments**
Dividends/interest (unrestricted)
**Total Income**|----------------**2025**-----------------
**£**
**£**
47,494
11,802
6.905
1,534
5,000
72,735
1,364
16,190
78,054
-
9,559
20,400
1,062
126,629
**199,364**
13,103
-
**13,103**
5,317
**217,784**|----------------**2024**-----------------
**£**
**£**
52,206
12,166
5,138
4,413
1,000
74,923
736
12,282
74,620
-
5,412
19,200
1,132
113,382
**188,305**
6,077
-
**6,077**
4,650
**199,032**|----------------**2024**-----------------
**£**
**£**
52,206
12,166
5,138
4,413
1,000
74,923
736
12,282
74,620
-
5,412
19,200
1,132
113,382
**188,305**
6,077
-
**6,077**
4,650
**199,032**|
|---|---|---|---|
||1,364
16,190
78,054
-
9,559
20,400
1,062|736
12,282
74,620
-
5,412
19,200
1,132||
||13,103
-|6,077
-||
||||**188,305**
**6,077**
4,650|
|||||
||||**199,032**|
Page 12
**Parochial Church Council of St Michael and All Angels, Summertown**
## **Notes to the financial statements for the year ended 31st December 2025 (continued)**
## **5. EXPENDITURE**
|**.**
**EXPENDITURE**||||
|---|---|---|---|
|**Unrestricted Expenditure**
**Grants**
Sundry donations & Mission giving
**Church running costs**
Parish share of Diocesan Expenses
Church running expenses
Church maintenance
Administration
Cleaning and gardening
Pastoral
Choir and music
Partnership expenses
Stationery and sundries
Telephone and internet
Church Development
Clergy expenses
**Church Hall running costs**
Caretaker
Cleaning and gardening
Services and supplies
Maintenance
Telephone and internet
Hall development
**Aldrich expenses**
**Other support costs**
Independent examiners’ fee
**Total Unrestricted Expenditure**
**Restricted Expenditure (Note 11)**
From legacies
From other funds
**Total Restricted Expenditure**
**Total Expenditure**|----------------**2025**-----------------
**£**
**£**
20
20
75,000
12,033
14,715
29,929
49
-
12,806
266
2,047
1,976
-
685
149,506
19,263
2,441
9,630
3,865
856
-
36,055
4,495
190,076
1,104
**191,180**
-
15,990
15,990
**207,170**|----------------**2024**-----------------
**£**
**£**
200
200
63,000
13,556
10,807
26,141
17
-
11,350
503
1,326
1,381
-
23
128,104
16,632
2,201
9,781
4,674
935
2,694
36,917
3,394
168,615
1,056
**169,671**
-
8,076
8,076
**177,747**||
||75,000
12,033
14,715
29,929
49
-
12,806
266
2,047
1,976
-
685|63,000
13,556
10,807
26,141
17
-
11,350
503
1,326
1,381
-
23||
||19,263
2,441
9,630
3,865
856
-|16,632
2,201
9,781
4,674
935
2,694||
||-
15,990|-
8,076||
||||168,615
1,056|
||||**169,671**
8,076|
|||||
||||**177,747**|
Page 13
**Parochial Church Council of St Michael and All Angels, Summertown**
## **Notes to the financial statements**
## **for the year ended 31st December 2025 (continued)**
## **6. TANGIBLE FIXED ASSETS**
|**6.**
**TANGIBLE FIXED ASSETS**|**6.**
**TANGIBLE FIXED ASSETS**||
|---|---|---|
|**Investment Property: 59 Aldrich Road**
**Cost or Valuation**
**£**
At 1 January 2025
559,277
Additions
-
Disposals
-
At 31 December 2025
559,277
**Net book values**
At 31 December 2025
559,277
At 31 December 2024
559,277
**10. RESTRICTED INCOME**
**2025 £**
Donations for the Organ Fund
8,546
Donations for the Ukraine Fund
1,150
Donations for the Taung Link Fund
-
Donations for the Garden Fund
1,330
Donations for the Food & Friendship Fund
2,077
Donations for the Asylum Hotels Collection
-
Donations for the Christmas 2024 Appeal
-
**Total**
**13,103**
**11. RESTRICTED EXPENDITURE**
**2025 £**
Disbursements against the Organ Fund
8,107
Disbursements against the Ukraine Fund
5,100
Disbursements against the Taung Link Fund
-
Disbursements against the Garden Fund
1,353
Disbursements against the Food & Friendship Fund
1,161
Disbursements against the Asylum Hotels Collection
-
Disbursements against the Christmas 2024 Appeal
269
**Total**
**15,990**
**7.**
**FIXED ASSET INVESTMENTS**
**2025**
**£**
At Fair Value
143,057
**8.**
**DEBTORS**
**2025**
**£**
Prepayments
6,763
Other debtors
9,876
16,639
**9.**
**CREDITORS**
**2025**
**£**
Accruals and deferred income
5,789
Other creditors
8,519
14,308||**2024**
**£**
148,714|
|||**2024**
**£**
6,652
12,387|
|||19,039|
|||**2024**
**£**
7,850
6,719|
|||14,569|
|||**2024 £**
-
3,213
-
1,000
830
50
984
**6,077**
**2024 £**
4,461
500
310
830
360
1,615
**8,076**|
||**13,103**||
||**2025 £**
8,107
5,100
-
1,353
1,161
-
269||
||**15,990**||
Page 14
## **Parochial Church Council of St Michael and All Angels, Summertown**
## **Notes to the financial statements for the year ended 31st December 2025 (continued)**
## **12. ANALYSIS AND RECONCILIATION OF MOVEMENTS ON FUNDS**
|Income
Expenditure
Surplus/(deficit)
Transfers
Investment gain/(losses)
Net movement in funds
Funds brought forward
**Funds carried forward**
**Split**
Tangible fixed assets
Fixed asset investments
Net current assets|**Church & Hall**
**(U)**
**Outreach**
**Fund (D)**
**Restricted**
**Funds (R)**
**Total**
**2025**
**£**
**£**
**£**
**£**
204,681
-
13,103
217,784
(191,180)
-
(15,990)
(207,170)|
|---|---|
||13,501
-
(2,887)
10,614
-
-
-
-
(5,658)
-
-
(5,658)|
||7,843
-
(2,887)
4,956
644,087
100,000
10,143
754,230|
||**651,930**
**100,000**
**7,256**
**759,186**|
||559,277
-
-
559,277
143,057
-
-
143,057
(50,404)
100,000
7,256
56,852|
||**651,930**
**100,000**
**7,256**
**759,186**|
||**U – unrestricted, D – designated, R - restricted**|
## **Restricted Funds**
|**Restricted Funds**||
|---|---|
|**Fund**|**£**
**£**
**£**
**£**
**£**
**B/F**
**Income**
**Expenditure**
**S/D**
**C/F**|
|Organ
Ukraine
Taung
Garden
Food & Friendship
Christmas 2024 Appeal
**All**|390
8,546
8,107
439
829
6,281
1,150
5,100
(3,950)
2,331
2,180
-
-
-
2,180
1,023
1,330
1,353
(23)
1,000
-
2,077
1,161
916
916
269
-
269
(269)
-|
||**10,143**
**13,103**
**15,990**
**(2,887)**
**7,256**|
Page 15