**Charity registration number 1129494 (England and Wales)** ## **ST MATTHEW & ST OSWALD RUGBY** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **ST MATTHEW & ST OSWALD RUGBY** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr D MacLellan|| |---|---|---| ||Mr CD Coleman|| ||Mr OJ Dutton|| ||Ms AJ Norton|| ||Mr CS Haistead|| ||Mr TJ Seamer|| ||Mr TW Daniel|| ||Rev AJ Hulme|| ||Rev JI Hulme|| ||Mr AD Rusk|| ||Mr A Freeman-Powell|| ||Ms E Jackson|| ||Ms N Townsend-Kennedy|| ||Mr ME Austin|| ||Mr AH Pickles|| ||Mr RL Wagstaffe|(Appointed 21 April 2024)| ||Ms SM Sydenham|(Appointed 21 April 2024)| ||Mr MJ Wright|(Appointed 21 April 2024)| |**Charity number (England and Wales)**|1129494|| |**Principal address**|Church Centre|| ||1a New Street|| ||Rugby|| ||Warwickshire|| ||CV22 7BE|| |**Independent examiner**|Cottons Accountants LLP|| ||Chestnut Field House|| ||Chestnut Field|| ||Rugby|| ||Warwickshire|| ||United Kingdom|| ||CV21 2PD|| ## **ST MATTHEW & ST OSWALD RUGBY** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 4| |Independent examiner's report|5| |Statement of financial activities|6| |Balance sheet|7| |Notes to the financial statements|8 - 17| ## **ST MATTHEW & ST OSWALD RUGBY** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and "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 (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The objective of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. The PCC met six times during 2024, all meetings being in person. There is a Standing Committee as required by law which transacts business delegated to it by the PCC or urgent business between PCC meetings. It consists of Licensed Clergy, Church Wardens, PCC Treasurer and PCC Secretary. A Buildings Group chaired by Alisdair Rusk (Church Warden) has delegated authority from the PCC for care of the buildings and using the maintenance budget. As well as the Parish Church, the PCC is responsible for 1a New Street and the Dixon Hall. A Finance Group advises the PCC on budget and financial issues. An Eco-Church group has been formed under the leadership of Malcolm Wright to advise the PCC on eco issues. A Mission Partnerships Group recommends to the PCC how external financial giving should be allocated and keeps the church engaged with those partnerships, each of which has a ‘champion’. Our Mission Partnerships were selected by congregational vote in 2023. A significant proportion of the church are allocated into Connect Groups for learning, fellowship and pastoral care. These each have appointed leaders. ## Safeguarding The PCC has safeguarding on each agenda. All relevant national and diocesan policies have been adopted. The parish safeguarding officers join the PCC meetings three times per year where we assess ourselves against the diocesan ‘dashboard’ to ensure that both safeguarding compliance and culture are as good as possible. Safeguarding culture is highlighted in main services each term too. ## Administrative Information Incumbent: Revd Alan Hulme 7 Vicarage Road, Rugby, CV22 7AJ Office: The Church Office 1a New Street, Rugby, CV22 7BE Treasurer: Dave MacLellan c/o The Church Office, 1a New Street, Rugby, CV22 7BE - 1 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Achievements and performance** The PCC is a corporate body established by the Church of England. It operates under the PCC Powers Measure and is a Registered Charity number 1129494. The PCC works in co-operation with The Church Wardens, Clergy and Lay members of the church in promoting the Mission of the Lord’s people within the Ecclesiastical Parish of Rugby West. Regular congregations meet in the parish church. In March 2024 we closed a service that ran for many years in Overslade Community Centre. There were 128 people on the Electoral Roll in April 2024. The objective of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. During 2024 we completed the plans listed in our 2023-24 priorities document and the PCC discerned a new set of priorities for 2024-5. We have been working through those and many are already complete. Significant issues in 2024 include the employment of a part time Church-School Link worker, and the achievement of carbon zero for our heating and lighting after installation of Air Sourced Heat Pumps and the taking out of a new ‘green’ utilities contract. Spiritually we have focussed on developing spiritual disciplines using material from the “Practicing the Way” course. The PCC reviews progress on these priorities at each meeting and seeks to keep the church informed. The Vision statement, outlining what we are aiming to become, remains the same. The PCC is also responsible for overseeing the provision of resources to enable these ministries. Those resources include buildings, finance, and people. Financially, when extra-ordinary income and building development expenses have been removed, the underlying trend is for revenue income and expenditure to be almost in balance. A reserves policy is in place to ensure that we use our reserves appropriately. Our phased building development programme continues. Now the heating is replaced, the next major project will begin in Q2 2025 and encompasses a full refurbishment of the Nave and Chancel and a new Audio-Visual system. Full funding for this is in place. Attendance at Sunday and Tuesday worship services has grown by 11% during 2024 and we have seen continued, encouraging growth in our 5-10 year old ‘Fun Followers’ group. - 2 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The existing ministries of the church include: ## Children and Youth - Children’s Church - Tea n Toast Sunday youth meeting - Engagement with local primary schools, including an ‘Open the Book’ team, reading with pupils, school services in church, foundation governors etc. - Affiliated Brownies, Guides and Rangers. ## Adult Discipleship - Connect Groups – for fellowship, discipleship and service - Mothers’ Union - Thursday Fellowship - Music Ministry - Prayer Meetings - Prayer Ministry - Home Communions - New Worshipping Communities of Knox Court and ‘Make Time’. For a period we also ran a monthly service for those who are learning English. - An emphasis on ‘getting to know each other better’ has led to the birth of a Sunday Lunch Club and Men’s Breakfasts. Community Outreach Ministries - Coffeebreak parent and toddler group - Connexions senior’s drop-in - E.S.O.L. Class (English for speakers of other languages) - Make Lunch – helping fill the holiday hunger gap - Mission Partnerships with various charitable organisations at home and overseas - Regular services in Overslade House Care Home and Knox Court retirement complex. ## **Financial review** It is the policy of the Trustees that unrestricted funds which have not been designated for a specific use should be maintained at a level in excess of two month’s overall expenditure and an additional month of salaries. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. ## **Structure, governance and management** The Charity is a corporate body established by the Church of England. - 3 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The PCC members are either ex-officio or elected by the Annual Parish Meeting in accordance with the Church Representation Rules. Following the 2024 APCM the following served as members of the PCC. |**Clergy**_(ex officio)_:|Revd. Alan Hulme, Revd Jane Hulme| |---|---| |**Churchwardens**:|Mark Austin, Alisdair Rusk| |**_Deputy Churchwardens_**_:_|_Eleanor Jackson, Susan Sydenham_| |**Deanery Synod Members**|| |_(ex officio) until 2026:_|Dave MacLellan, Eleanor Jackson, Andrew Pickles, Aaron Freeman-Powell| |**PCC members:**|| |_Elected until 2025:_|Alex Norton, Colin Coleman, Owen Dutton| |_Elected until 2026:_|Tom Daniel, Nicola Townsend-Kennedy, Terry Seamer| |_Elected until 2027:_|Chris Haistead, Ray Wagstaffe, Malcolm Wright| |**_Treasurer:_**|_Dave MacLellan_| |**PCC Secretary:**|Terry Seamer| The method of appointment of PCC members (who are all Trustees) is set out in the Church Representation Rules. The PCC consists of the incumbent (our Vicar), Associate Minister, churchwardens, and members elected by those members of the congregation who are on the electoral roll of the church. All those who are members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC. PCC members are responsible for making decisions on all matters of general concern and importance to the parish, including deciding how the funds of the PCC are to be spent. Between meetings, a Standing Committee consisting of the Vicar, Associate Vicar, Churchwardens, Treasurer and PCC Secretary may convene, if required, to enact urgent business of the PCC. Trustees of the charity are listed on the Charities Commission website. The trustees' report was approved by the Board of Trustees. .............................. Rev AJ Hulme **Trustee** 19/05/2025 Date: ............................................. - 4 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF ST MATTHEW & ST OSWALD RUGBY** I report to the trustees on my examination of the financial statements of St Matthew & St Oswald Rugby (the Charity) for the year ended 31 December 2024. ## **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. I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **Independent examiner's statement** Since the Charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act 2011. - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **David Ingram FCCA Cottons Accountants LLP** Chestnut Field House Chestnut Field Rugby Warwickshire CV21 2PD United Kingdom Dated: 22 May 2025 - 5 - 01 <0 c Q ID O) 0£> cjo c ## **ST MATTHEW & ST OSWALD RUGBY** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2024**_ |||**2024**||**2023**|| |---|---|---|---|---|---| ||**Notes**|**£**|**£**|**£**|**£**| |**Fixed assets**|||||| |Tangible assets|**11**||169,200||172,800| |Investment property|**12**||150,000||150,000| |Investments|**13**||22,099||21,604| ||||341,299||344,404| |**Current assets**|||||| |Debtors|**15**|1,354||3,442|| |Cash at bank and in hand||305,054||331,307|| |||306,408||334,749|| |**Creditors: amounts falling due within**|||||| |**one year**|**16**|(6,214)||(7,266)|| |Net current assets|||300,194||327,483| |**Total assets less current liabilities**|||641,493||671,887| |**Funds**|||||| |Endowment funds|**17**||22,098||21,604| |Restricted funds|**18**||28,837||11,480| |Designated funds|**19**||431,733||518,684| |Unrestricted funds|||158,825||120,119| ||||641,493||671,887| ## 19/05/2025 The financial statements were approved by the Trustees on ......................... .............................. Rev AJ Hulme **Trustee** - 7 - **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **Charity information** St Matthew & St Oswald Rugby is a corporate body established by the Church of England. It operates under the PCC Powers Measure and is a Registered Charity number 1129494. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted 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. Designated funds represent the amounts from the General Fund set aside for various items, eg. capital purchases, building fund etc. Funds designated for a particular purpose are unrestricted and may be reallocated if required by the PCC. Restricted funds are grants and donations made for a specific purpose and may only be expenses on those restricted terms. ## **1.4 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 8 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings Straight Line over 50 years The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. Consecrated and beneficed property is excluded from the accounts by section 96(2) of the Charities Act 1993. Movable church furnishings which are held by the Vicar and Churchwardens on special trust for the PCC and require a faculty for disposal, are considered inalienable property. ## **1.7 Investment property** Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. ## **1.8 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **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 original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.10 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. ## **1.11 Employee benefits** Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. - 9 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **2 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
199,583
308
**Donations and gifts**
Gift Aid donations
99,965
-
Tax recoveries
25,868
-
Other planned giving
36,140
-
Cash offerings
1,282
-
Contactless income
1,668
-
Donations to Church
1,072
-
One off gifts and legacies
26,361
-
Other donations
7,227
308
199,583
308|**Total Unrestricted**
**funds**
**2024**
**2023**
**£**
**£**
199,891
155,581
99,965
92,012
25,868
23,607
36,140
36,519
1,282
1,868
1,668
880
1,072
695
26,361
-
7,535
-
199,891
155,581|**Total Unrestricted**
**funds**
**2024**
**2023**
**£**
**£**
199,891
155,581
99,965
92,012
25,868
23,607
36,140
36,519
1,282
1,868
1,668
880
1,072
695
26,361
-
7,535
-
199,891
155,581| |---|---|---| |||92,012
23,607
36,519
1,868
880
695
-
-| |||155,581| ## **3 Charitable activities** |Charitable and ancillary trading
**Analysis by fund**
Unrestricted funds
Designated funds
Restricted funds|**2024**
**£**
62,219
7,468
24,235
30,516
62,219|**2023**
**£**
54,733| |---|---|---| |||16,201
34,183
4,349| |||54,733| **4 Investments** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Dividends and bank interest received|15,182|9,291| - 10 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **5 Charitable activities** |Clergy and staff
Depreciation
External giving
Properties
Church activities
Administration
PCC costs
**Analysis by fund**
Unrestricted funds
Designated funds
Restricted funds
**6**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets
**7**
**Trustees**
None of the trustees (or any persons connected with them) received any benefits from
year.
**8**
**Employees**||**2024**
**£**
81,842
3,600
13,090
150,242
22,820
36,244
342
308,180
308,180
183,527
111,186
13,467
308,180
**2024**
**£**
1,080
3,600|**2023**
**£**
65,286
3,600
35,070
62,565
20,544
33,006
1,002| |---|---|---|---| ||||221,073| ||||221,073| ||||176,575
37,638
6,860| ||||221,073| ||||**2023**
**£**
1,080
3,600| ||||| |||the Charity during the|| ||||| The average monthly number of employees during the year was: |**2024**|**2023**| |---|---| |**Number**|**Number**| |4|4| - 11 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**8**|**Employees**||**(Continued)**| |---|---|---|---| ||**Employment costs**|**2024**|**2023**| |||**£**|**£**| ||Church Administrator, Finance Administrator and Cleaner wages|25,957|23,264| There were no employees whose annual remuneration was more than £60,000. ## **9 Net gains/(losses) on investments** ||**Endowment **|**Endowment**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Revaluation of investments|494|1,858| ## **10 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **11 Tangible fixed assets** |**Tangible fixed assets**|| |---|---| ||**Freehold land**| ||**and buildings**| ||**£**| |**Cost**|| |At 1 January 2024|180,000| |At 31 December 2024|180,000| |**Depreciation and impairment**|| |At 1 January 2024|7,200| |Depreciation charged in the year|3,600| |At 31 December 2024|10,800| |**Carrying amount**|| |At 31 December 2024|169,200| |At 31 December 2023|172,800| The property is the Church office and known by the address 1A New Street, Rugby. - 12 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **12 Investment property** |**Investment property**|| |---|---| ||**2024**| ||**£**| |**Fair value**|| |At 1 January 2024 and 31 December 2024|150,000| Investment property comprises of Dixon Hall. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the Trustees. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |Freehold|150,000|150,000| |Long leasehold|-|-| |Short leasehold|-|-| ## **13 Fixed asset investments** |**Cost or valuation**
At 1 January 2024
Revaluation of investments
At 31 December 2024
**Carrying amount**
At 31 December 2024
At 31 December 2023
Investments at fair value comprise:
CBF - St Matthew & St Oswald
CBF - New Bilton Special Fund
CBF - St Matthew Rugby|**Investments**
**£**
21,604
495
22,099
22,099
21,604
**2024**
**2023**
**£**
**£**
8,225
8,330
10,822
10,960
3,052
2,984
22,099
22,381|**Investments**
**£**
21,604
495
22,099
22,099
21,604
**2024**
**2023**
**£**
**£**
8,225
8,330
10,822
10,960
3,052
2,984
22,099
22,381| |---|---|---| |||**£**
21,604
495| |||22,099| |||22,099| |||21,604| |||**2023**
**£**
8,330
10,960
2,984| |||22,381| - 13 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**14**
**Financial instruments**
**Carrying amount of financial assets**
Instruments measured at fair value through profit or loss
**15**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**16**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**2024**
**£**
22,099
**2024**
**£**
1,354
**2024**
**£**
493
2,506
3,215
6,214|**2023**
**£**
21,604| |---|---|---| |||**2023**
**£**
3,442| |||**2023**
**£**
1,841
211
5,214| |||7,266| ## **17 Endowment funds** Endowment funds represent assets which must be held permanently by the Charity. 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 assets form part of the fund. ||**At 1 January**|**Gains and**|**At 31**| |---|---|---|---| ||**2024**|**losses**|**December**| ||||**2024**| ||**£**|**£**|**£**| |**Permanent endowments**|||| ||21,604|494|22,098| |**Previous year:**|**At 1 January**|**Gains and**|**At 31**| ||**2023**|**losses**|**December**| ||||**2023**| ||**£**|**£**|**£**| |**Permanent endowments**|||| ||19,746|1,858|21,604| - 14 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **18 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |**At 1**
**Previous year:**
**At 1**|**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
11,480
30,824
(13,467)
28,837
**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
13,991
4,349
(6,860)
11,480| |---|---| ## **19 Designated funds** These are designated funds which are material to the Charity's activities. |**At 1**
**Previous year:**
**At 1**|**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
518,684
24,235
(111,186)
431,733
**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
522,139
34,183
(37,638)
518,684| |---|---| ## **20 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At**|**1**|**January**|**Incoming**|**Resources**|**At 31**| |---|---|---|---|---|---|---| ||||**2024**|**resources**|**expended**|**December**| |||||||**2024**| ||||**£**|**£**|**£**|**£**| |General funds|||120,119|222,233|(183,527)|158,825| - 15 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**20**|**Unrestricted funds**||||||**(Continued)**| |---|---|---|---|---|---|---|---| ||**Previous year:**|||**At 1 January**|**Incoming**|**Resources**|**At 31**| |||||**2023**|**resources**|**expended**|**December**| ||||||||**2023**| |||||**£**|**£**|**£**|**£**| ||General funds|||115,621|181,073|(176,575)|120,119| |**21**|**Analysis of net assets between**|**funds**|||||| |||**Unrestricted**||**Designated**|**Restricted**|**Endowment**|**Total**| ||||**funds**|**funds**|**funds**|**funds**|| ||||**2024**|**2024**|**2024**|**2024**|**2024**| ||||**£**|**£**|**£**|**£**|**£**| ||**At 31 December 2024:**||||||| ||Tangible assets||-|169,200|-|-|169,200| ||Investment properties||-|150,000|-|-|150,000| ||Investments||1|-|-|22,098|22,099| ||Current assets/(liabilities)|158,824||112,533|28,837|-|300,194| |||158,825||431,733|28,837|22,098|641,493| |||**Unrestricted**||**Designated**|**Restricted**|**Endowment**|**Total**| ||||**funds**|**funds**|**funds**|**funds**|| ||||**2023**|**2023**|**2023**|**2023**|**2023**| ||||**£**|**£**|**£**|**£**|**£**| ||**At 31 December 2023:**||||||| ||Tangible assets||-|172,800|-|-|172,800| ||Investment properties||-|150,000|-|-|150,000| ||Investments||-|-|-|21,604|21,604| ||Current assets/(liabilities)|120,119||195,884|11,480|-|327,483| |||120,119||518,684|11,480|21,604|671,887| ## **22 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 16 - ## **ST MATTHEW & ST OSWALD RUGBY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **23 Connected Charities** The following charities provide occasional income to the church, usually with restrictions on its use: Glenn, Martin, Wooding Trust. The aims for the trust are to provide support for the Education of Young People in the parish. St Matthew's Welfare Trust. The aims of the Trust are to relieve hardship. Clerical and Lay assistance fund. The aims of the fund are to provide support for the clerical and lay personnel of the parish. The James Kenning Public Purposes Church Charity Registered Charity 507901. The aims of the trust are to provide charitable assistance for training days, Christian Conferences, Christian holidays and other charitable purposes. The details of these charities and current contact details can be found on the Charity Commission Website (charitycommission.gov.uk) - 17 -