St. Michael and All Angels Church, Claverdon Annual Report and Financial Statements of the Parochial Church Council for the year ended 31 December 2025 In¢unibenl'. Reverend Tom Thomas (appointed 17 March 2026) Independent Examiner: Mr Richard Butler 5, Easigale Mews, Castle Lane. Wan¥ick. CV34 4BT Cliarity Number 1129532
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON ANNUAL REPORT FOR 2025 Background The PCC of St. Michael and All Angels has the responsibility, in Co-operation with the incumbent, to promote the whole mission of the Church, pastoral, evangelistic, social and ecumenical within the ecclesiastical parish. It also has maintenance responsibilities for the Church Centre in Claverdon. Membership Members of the PCC are either ex offiGio or elected by the Annual Parochial Church Meeting IAPCM), which this year took place on 28 April 2025, in accordance with the Church Representation Rules. The following served as members of the PCC from 1 January 2025 up to the date ofthis report. Incumbent Reverend Tom Thomas (appointed 17, March 20261 Church Warden.. Mr Jonathan Evans Representative on the Deanery Synod.. Mrs Sue Jacques Mrs Sandra Aitken Mr Steve Aitken Mrs Ann Anthony- also Minutes Secretary Mrs Alison Bird Mr Richard Bonsall- also PCC Treasurer Mr David Easlham Mrs Andrea Gardner Mrs Penny Hanson Mrs Ingrid Moss Mrs Julia Waldron Elected Members.. Co-opted Member.. Reverend Philip Hanson The PCC met 5 times during 2025. At each PCC meeting, reports were received from each of its sul committees and the treasurer. Committees The PCC operates with a number of sub-commillees, which meet between full meetings of the PCC-. Fabric Committee This committee is chaired by Mr Richard Bonsall. 11 is responsible for the fabric of the Church and the Church Cenlre, the churchyard, the floodlighting, the clock and the bells. Mission and Giving Conlmiltee Chaired by Sue Jacques, this committee devises and organises the programme of charitable fundraising events for selected charities al home and abroad. Church Attendance There were 91 individuals on the Church Electoral Roll in April 2025. The average attendance on a usual Sunday for 2025 was 43 {2024'. 35).
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. CLAVERDON ANNUAL REPORT FOR 2025 (continued) Financial Review The financial results for 2025 are summarised on page 4. Nel resources increased during the year by £10,333 ansing as follows. Deficit from week-to-week activities of the Church Surplus on the magazine {6,220) Income from investments 2.607 David Hardy Fund 3,381 19,118 Grant to support children and youth work 3,000 Church Centre Renewable Energy Project (net cost after receiving grants of £32.000) 111,5531 Net Increase in Resources £10 333 The lolal deficit from week-lo-week activities of1£6,2201 Compares with {£11,442} in 2024, an improvement of £5,222. The improvement was mainly driven by an improved performance from the Church Centre and reduced administration costs. The parish magazine also contributed a positive performance, as wèll as being an important means of communicating to the church and village community. The church's investments had a disappointing year with the value of investment funds reducing by £6,21012024. gain of £6,160), however the Investments provided dividend income of £3,381 during the year. The Diocesan Parish Share payable to the Coventry Diocese for 2025 was £41,45412024'. £39,480} - a sum payable despite being in interregnum. In¢ome from donors Ibolh planned and one-off) was broadly flat compared with 2024. The David Hardy Fund IDHFI was established in 2025 in memory of David Hardy who for over 50 years played a major role in ensuring the Church and the Church Centre were properly maintained to a high standard. The DHF has the aim of raising funds for the Church and Church Centre buildings Fundraising for the DHF commenced in August 2025 and by year end had reached a total of £19,118. Fundraising for the DHF will continue in 2026 and funds are intended to be focussed on the Church Centre to mark the 50 anniversary of the laying of the foundation stone. The old oil-fired boilers in the Church Centre were replaced in 2025 by heat pumps following the award of £25,000 grant from the Church of England's Nel Zero support fund. The heat pumps will significantly reduce the carbon footprint of the Church Centre. The lolal cost of the project over 2024 and 2025 was £55,106, in line with expectations, with total grants received of £32,000 resulting in a lolal net cost of £23,106 of which £11,553 was incurred in 2025. A number of fundraising events were held in 2025 including a quiz night, lent lunches, and wreath making. Collections from HatNest and Christmas serviGes1£5,2561 were donated lo a variety of charities al home and abroad. Overall nel PCC funds increased by £4,12312024'. decrease of £6.9771 The balance sheet on page S shows total bank and cash balances al 31 December 2025 of £29,754 (2024.. £17,945} and lolal liquid financial assets of £226,911 12024.. £211,026). In summary, activities in 2025 produced another week-to-week operating deficit, but at a lower level than in the past nine years. Al the same lime, significant investment was made into Ihe new renewable heating system al Church Centre, and with the David Hardy fund, further investment is planned for the fabric of the Church and the Church Cenlre. Encouraged by the efforts and inspiration of so many of our congregation in wanting our church to grow in every sense, oui aim is to continue this improving trend. The PCC iemains confident in our ability. with God's good grace. to conlinue our mission for the Church here in Claverdon.
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON ANNUAL REPORT FOR 2025 (continued) Annual Review A summary report of the activities of the Church in 2025 has been prepared and is lo be presented al the APCM on 18" May 2026. Copies are also available in the Church to all parishioners and upon request to any other interested party. Risk Management The PCC recognises ils responsibilities for managing risk. Principal Risks and Uncertainties Although as with many charitable organisalions, the majority of the PCC'S income is the result of voluntary giving and is therefore subject lo year-on-year fluctuations caused by levels of church membership and other more general economic factors, we do currently benefit from the cushion of having strong financial reserves to fall back on if limes become difficult. In addition, we have good financial controls and authorisation and review procedures in place to ensure that we manage our finances wisely. All this leads us to conclude that any financial risks that we are currently exposed lo are not of a signifi¢anl nature. Operations All our church premises and grounds are maintained to a high standard and each year significant funds are expended in order lo ensure that our church remains a well maintained and safe place in which to ongregale. Children's & Youth Work The health. safely and protection of children, young people and vulnerable adults is regarded as being of paramount importance lo Claverdon PCC We have adopted and operate a formal policy for the safeguarding of Children and vulnerable adults, in line with Diocesan guidelines. Continual review of our safeguarding policies, procedures and practice is ongoing and overseen by the PCC'S safeguarding officer who reports on these matters to each of our PCC meetings as a standard agenda item. The PCC remains committed to continuous improvement in the development and pracli¢al application of our safeguarding policies. United Benefice Sl Michael and All Angels, Claverdon, is a United Benefice with All Saints, Preston Bagot. Our incumbent is also the Priest-in-charge of Sl. Peter's, Woollon Wawen and, Associate Minister of St John the Baptist, Aston Canllow, On behalf of the PCC I.L C<u7 Mr Jonathan Evans Churchwarden
PAROCHIAL CHURCH OF ST MICHAEL AND ALL ANGELS. CLAVERDON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2025 Unrestrlcled Restricted Endowmonl Total Funds Noto Fiinds Funds Funds 2025 2024 INCOMING RESOURCES Incomin9 Resources from donors Other voluntary Incoming wesources Incomlng Resource5 from operating activities to further the Council's objective5 lo generate funds Income from inveslmenls TOTAL INCOMING RESOURCES 21al 21bl 62.093 500 24,494 35,000 86.587 35,500 70.663 5,000 21cl 21dl 21el 32S 325 7.072 22,619 3.392 108,746 31,763 2.040 96,721 31,763 3,381 157.556 1.341 1,341 59.494 RESOURCES EXPENDED Granls Activities directly relating lo Ihe WQfk of the Church Church management and adminislralion TOTAL RESOURCES EXPENDED 31al 5,256 5,256 6,820 31bl 31¢) 88,014 7,250 95,264 46,673 134.687 7.280 147,223 101.194 13.869 30 51,929 30 121,883 NET RESOURCES INCREASE I IEXPENDEDI 1,457 7,565 1,311 10,333 113,1371 GAIN IILOSSI ON INVESTMENTS - unreali$?d TRANSFER BETWEEN FUNDS 12,424 111,5531 13761 11,553 13,4101 16,2101 6.160 NET MOVEMENT IN FUNDS 112,S201 18,742 .2,099 4,123 16,9771 BALANCES BROUGHT FORWARD AT- 1 January 2025 (Restaledl 8ALANCES CARRIEO FORWARD AT- 31 December 2025 15 100,186 144,892 86,354 331,432 338,409 87.686 163.634 84,255 335,555 331,432
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON BALANCE SHEET AT 31 DECEMBER 2025 Nole 2025 2024 (Restated) FIXED ASSETS Tangible fixed assets Investment assets 6{al 6{bl 112,641 197,157 309,798 112.641 193.081 305,722 CURRENT ASSETS Debtors 6,170 29,754 35,924 14.961 Cash al bank and in hand 17,945 32,906 LIABILITIES,. Amounls falling due within one year 10,167 7,196 NET CURRENT ASSETS 25,757 25,710 NET ASSETS 335,555 331,432 FUNDS Nole Note Unrestricted 10 87,666 163,634 84,255 335,555 15 100,186 144,892 86,354 331,432 Restricted 10 Endowment 15 Approved by the Parochial Church Council and signed on its behalf by.. Jonathan Evans ChurGhwarden
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON NOTES TO THE FINANCIAL STATEMENTS, FOR THE YEAR ENDED 31 December 2025 ACCOUNTING POLICIES The financial slalemenls have been prepared in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with FRS 102 - (Charities SORP (FRS 10211 and the Charities Acl 2011. The financial statements have been prepared under the historical cost convention except for the valuation of inveslmenl assets which are shown al market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. The primary objective of the charity is lo promote the gospel of our Lord Jesus Christ according to the doctrine and practice of the Church of England The charity meets the definition of a public benef5t entity under FRS 102. There are no material uncertainties about the charity's ability to continue as a going concern. 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 thè PCC are also unrestricted. The funds of the PCC have been appropriately analysed and the statement of financial activities has been prepared in accordance with this analysis. Incoming resources Voluntary income and capital sources Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under gift aid is recognised only when received. Income tax recoverable on gift aid donations is recognised when the donation is recognised. Grants and legacies lo the PCC are accounted for only when received. Funds raised from sales are accounted for gross. Other income Rental income from letting the Church Centre is recognised when the rental is due. Income from investments Dividends and interest are accounted for when receivable. Tax recoverable on such income is recognised in the same accounting year. Gains and losses on investfftents Unrealised gains or losses are accounted for on revaluation of investments on 31 December.
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON NOTES TO THE 2025 FINANCIAL STATEMENTS (continued) Resources expended Grants and Ouard giving are accounted for in the SOFA when paid, unless an obligation, whether constructive or legal, exits lo the recipient in accordance with Ihe Charities SORP and FRS 102. Activilies diTrGlly relaling to the work of the Church The diocesan quota is accounted for when payable. Fixed assets Consecrated land and buildings, moveable church fumishings and the Church Cenlre Consecrated and beneficed property is excluded from the accounts by Section 10121(¢) of the Charities Act 2011. Moveable Ghurch furnishings held by the Vicar and the Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in Ihe Church's Inventory which can be inspected lal any reasonable timel. For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial slalemenls. No inalienable property was acquired in 2024. All expenditure incurred in the year on consecrated or beneficed buildings is written off. The Church Centre is included at estimated original cost. Other fixtures, fittings, office equipment and churchyard machinery Freehold land is not depreciated. Equipment used within the Church Centre is depreciated on a straight-line basis as follows. Furniture 10 10 per annum Computers and printer 200/0 per annum Audio equipment 150/0 per annum Churchyard machinery is depreciated on a slraight-line basis at 15°/0 per annum. Investmenls Investments are valued al market value al 310ecember. Current assets Amounts owing to the PCC al 31 December in respect of rents or other income are shown as debtors. Short-lerm deposits are held on deposit with the Central Board of Finance of the Church of England.
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. CLAVEROON NOTES TO THE FINANCIAL STATEMENTS Icontlnugdl For tho year ended 31 Oecember 2025 2 INCOMING RESOURCES Unfeslricled Reslricled Endowment Funds Funds Total Funds Funds 2025 2024 2(al Incomin Planned giving.. Gift AKJ donalions-regular Gift Aid donalions-one off resources from donors 34.981 2,070 11,184 2.120 37,101 2,070 15,958 36.322 4.054 11,918 120 Income lax recoverable 4.774 Youth and family ministry support Olher planned giving Colleclions 7.625 5.041 619 7.625 7.347 619 8.733 5.337 330 2,306 Magazine donalions Sundry donations lincl. DHFI 573 15,294 24,494 15,867 86,587 3,849 70,663 62,093 21b) Other volunta Legacies Grants Incomin resources 500 500 35,000 35.000 35,000 35,500 5.000 5.000 500 2(cl Income from o o further the Council's ob eclives eratin activitles: Fees 325 325 7,072 7,072 325 325 2(dl Income from o to enerale lunds eratin activities: Magazine advertisements Floodlighting Other Church Centre lelling5 Sales and other fundraising events 8,661 8.661. 6.879 19,889 3,213 31.763 19,889 3,213 31,763 15.257 483 22,629 21e) Income from investments Dividends and Inleiesl received 2,040 1,341 3,381 3.392 TOTAL INCOMING RESOURCES 96,721 59,494 1,341 157,556 108.746
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON NOTES TO THE FINANCIAL STATEMENTS {contlnuedl For the year ended 31 December 2025 3 RESOURCES EXPENDED Unreslricled Reslricled Endowment Funds Funds Fund5 Total Funds 2025 2024 31al Grants Missionary and charitable giving.. Church overseas.. missionary s¢xielies relief and development agencies Home missions and olhef Church Societ$ Secular charities 1,450 250 1.865 1,691 5,256 1.450 250 1,865 1,691 5,256 3,950 815 626 1,429 6,820 31bl Actlvltles directi relatin t the work of the Church Ministry.. Dlocesan Parish Share Vicar's expens85 Mission & oulreach cost$ Youth and family ministry costs Church running costs Church maintenance Upkeep ol services Upkeep ol chLJrchyard Expendilure on magazine Church Cenlre running costs Major repair5, replaGemenls and improvemenls Church Centre Renewable Energy Project 41,454 41.454 39,480 157 4,290 7.241 4.704 2,543 2,7{ 6,053 18,866 157 7.410 7,241 4,704 2,543 2,706 6,053 18,866 141 8,942 6,300 4,863 1,431 1,206 5.743 21.535 3,120 43,553 46.673 43,553 134.687 11,553 101,194 88,014 31cl Church mana Depreciation Bank Charges Printing and slalionery and sundry expenses Church office expenses PCC adminislralive salaries Parish bookeeping costs ement and admlnistrallon 264 30 294 201 1,322 1.195 10.675 476 13.869 1.695 5.063 228 7,250 1,695 5.063 228 7,280 30 TOTAL RESOURCES EXPENDED 95,264 51,929 30 147,223 121,883
PAROCHIAL CHURCH OF ST MICHAEL AND ALL ANGELS. CLAVERDON 10 NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31 December 2025 4. COMPARATIVES FOR STATEMENT OF FINANCIAL ACTIVITIES Restated (Dote 151 Restated (note 151 Unrestrlcted Restricted Endowmént Total Funds Note Funds Funds Funds 2024 INCOMING RESOURCES Incomlng Resources from donors Other voluntary incoming resources Incoming Resources from operating a¢livilies lo further Ihe Council's objectives 10 9enerale lunds Income from investments TOTAL INCOMING RESOURCES 21al 21bl 63,823 5.000 6.840 70.663 5,000 21cl 21dl 21el 7,072 22,619 2,087 100,601 7.072 22.619 3.392 108.746 1.305 1,305 6,840 RESOURCES EXPENDED Grants Activities diieclly Telaling lo the work of the Church Church management and adminislralion TOTAL RESOURCES EXPENDEO 31a} 100 6,720 6,820 31bl 31¢) 100,822 13,869 114,791 372 101,194 13.869 121.883 7,092 NET RESOURCES INCREASE I (EXPENDED) {14,1901 12521 1,305 {13,1371 GAIN IILOSSI ON INVESTMENTS . unrealised 2,440 1,578 2.142 6.160 NET MOVEMENT IN FUNDS {11,7501 1,326 3,447 16,9771 BALANCES BROUGHT FORWARD AT - 1 January 2024 (Reslaledl BALANCES CARRIED FORWARD I. AT - 31 December 2024 (Reslaledl 111,936 143,566 82.907 338,409 100,186 144,892 86.354 331,432
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2025 S TRANSACTIONS WITH PCC MEMBERS AND OTHER RELATED PARTIES No PCC member received any remuneralion nor reimbursement ol expenses except Ih05e that were dileclly and wholly allribulable lo PCC aclivilies. 6 FIXED ASSETS FOR USE BY THE PCC Freehold Land & Equlpment In Church Church Centre Centre Tan ible fixed assets Gardèn Equipmen Tolal Office Audio COST Al l January 2025 Additions Al 31 Decembei 2025 112.641 3,552 7,410 2,574 126.177 112.641 3,552 7,410 2,574 126,177 DEPRECIATION Al 1 January 2025 Charge lor year Al 31 December 2025 3.552 7,410 2,574 13,536 3,552 7,410 2,574 13.536 NET BOOK VALUE AI 31 December 2025 112,641 112,641 Al 31 December 2024 112.641 112,641 The glebe field is freehold land and is slated al cost 01 £6,641 {2024 £6.6411. Investments At 31 December Market Value Unlts 2024 2025 Restated Cost 2024 2025 (Restated) 2024 2025 IRestatedl General Funds Accumulation shares in CBF ColE investment lull420.2 420.2 Income shares in C8F ColE inveslmenl fund 2,727.1 2,264.7 26,067 60,536 88.603 26,375 52,367 78,742 6,167 45.378 51,545 6.167 28.671 34,838 Restricted Funds Accumulation shares in CBF ColE investment lun 513.9 513.9 31,875 32.251 7,833 7.833 Endowment Funds Accumulation share5 in COIF inveslmenl fund Income shares in CBF ColE investment fund Income Shares in COIF inveslmenl fund 46.9 948.0 2,363 46.9 948.0 2.363 11.977 21,044 45,658 78,679 12,215 21,921 47.952 82,088 217 12.001 2.245 14,463 217 12,001 2,245 14,463 Total Investments 197,157 193,081 73,841 57,134
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON 12 NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the year ended 31 December 2025 7 ANALYSIS OF NET ASSETS BY FUND Unreslrictpd Restrlcled Endowment Fund$ Funds Fund$ Total Fixed assels Currenl assels Current liabilities 86,603 11,230 -10.167 87.666 144,516 19,118 78,679 5,576 309,798 35,924 -10,167 335.55S Fund balances 163,634 84,255 DEBTORS 2025 2024 Debtors for goods and services Other deblofs (including lax fecoverablel 1,664 4,506 2,185 12,776 14,961 6,170 9 LIABILITIES: Amounts falling due w5thln one year Ac¢rLtals and deferred income 10.167 10.167 7,196 7,196
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON 13 NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For tho year ended 31 December 2025 10 MOVEMENT IN FUNDS Al Net 01.01.25 Movem8nl (Regtatedl In Funds Transfers Betwee Funds At J1.12.25 Unrestrlcted Funds General Fund 1.186 19671 111.5531 87,666 R•strl¢led Funds Casllfj Legacy David Hardy Fund Children's & Yoijlh Work Fundraising Acllvilies lo supporl Charilable Giving Church Centre Renewable Energy Piojecl Original Cost ol Church Cenlre Buiding Original Cosl ol Glebe Field Land 32,251 13761 19.118 31.875 19.118 111,5531 11,553 106.000 6.641 144.692 106,000 6,641 163,634 7,189 11.553 Endowment Funds Mallhews Charity Price & Tilley Legacy Reading Rotsm 52.218 21,921 12,215 86.354 19841 18771 12361 12,0991 51,234 21,044 11,977 84,255 Total Funds 331,432 4.123 335.S55 Net movement In fund$, Included In the above are as follows.. Incomlng Rosoyr¢ey Rasourcgs Movem•nt Expended In Funds Unrestrlcted Fund$ General Fund 96.721 197.6881 19671 Restrlcl•d Funds Castle Legacy David Hardy Fund Children's & Youlh Work Fundraising Activities lo support Charitable Giving Church Cenlre Renewable Energy Project Original Cost of Church Cenlre Buiding Original Cost ol Glebe Field Land 13761 13761 19,118 19,118 3,120 5,256 32,000 13,1201 15,2561 143,5531 111,5531 59,494 152,3051 7,189 Endowment Fund$ Mallhews Charily Price & Tilley Legacy Reading Room 1,341 12,3251 18771 12381 13.4401 19841 18771 12381 12.0991 1.341 Total Fund5 157,556 153.433 4,123
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. CLAVERDON 14 NOTES TO THE FINANCIAL STATEMENTS Iconllnuedl For thè year ended 31 December 2025 10 MOVEMENT IN FUNOS Icontinuedl Prlor Year120241 Comparatives for movement in funds IRestatedl At Net 01.01.24 Movement (Reslatedl In Funds Transf&rs At 31.12.24 Between Funds (Reststedl Unrestrictèd Funds General Fund 111,936 111,7501 100.186 Restricted Funds Castle Legacy David Hardy Fund Children's & Youth Vvork Fundraising Activities to support Charitable Gsving Origin81 Cost of Church Centre Buiding Original Cost ol Glebe Field Land 30,925 1,326 32.251 106.000 6,641 143.566 106,0(X) 6.841 144,892 1.326 Endowmènt Funds Matthews Charity Price & Tilley Legacy Reading Room 49,853 21,430 11,624 82,907 2.365 491 591 3.447 52,218 21,921 12.215 86,354 Total Funds 338,409 16,977 331,432 Comparatlve120241 net movernent in lunds IRestatedl, included in thè above are as follows: Incoming Resources RasoL&r¢es Expended Movement in Funds Unrèstricted Funds Gener81 Fund 103,041 1114.7911 111,7501 Restrict¥d Funds Castle Lega¢y David Hardy Fund Children's & Youth ivtsrk Fundraising Activities to support Chaiilable Giving Oiiginal Cosl ol Church Centre Buiding Original Cost of Glebe Field Land 1,578 12521 1,326 120 6,720 {1201 16,7201 8,418 {7.092) 1.326 Endowment Funds Mallhews Charity Price & Tilley Legacy Reading Room 2,365 491 591 3,447 2,365 491 591 3.447 Total Funds 6,977
PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. CLAVERDI 15 1 NOTES TO THE FINANCIAL STATEMENTS {continuedl For the year ended 31 December 2025 11 FUND DETAILS lal The unreslricled lunds comprise the general fund of the PCC and olher funds designated by the PCC lor particular PUTposes. Ib) Restricted Funds The Castle Legacy's use is re51ricled lo the maintenance ol the church's bells. The David Hardy Fund was established this year and is restricted lo impiovemenls lo the Church and Church CentrÉ Ic) Endowment Funds Under a Charity Commission Order, Ihe proceeds ol Ihe old Reading Room were invested and have lo be accumulaled for 60 years from 1981. The lemis of Ihe Pfice and Tilley Legacy, which has been exislence since prior lo 1975, is Ihal Ihe capital should n in a pemianenl endowment investment fund, willi all income being paid out as unre51ricled lunds. The Mallhews Charity is a charity created by John Mallhews in 1526 by his will. 11 is registered with Ihe Charity Commission. ils Iruslees being Claverdon PCC. Ils lunds are used lor fepaiis and mainlenance of Ihe Parish Church of Claverdon. 12 STAFFING COSTS During 2025 the PCC employed Ihiee part-lime staff - Ihe parish seerelary. a youth worker, and a cleaner al the Church Cenlre. Total gross salary costs lor the year weTe £20,97912024.' £20,030). 13 CLAVERDON SUNDAY SCHOOL FUND The Claveréon Sunday School Fund is a connected charity. Ils Iruslees are the Minister and Churchwardens of Claverdon. Ils beneficiaries are the parishes of Claverdon, Preston Bagol and Norton Liridsey. During 2025 the Fund made grants of £3,000 lo Claverdon PCC12024.. £5,000> lo help support youth and children's work within Ihe parish. 14 A quinquennial review of the Church fabric look place in 2024. There were no major ilems ol concein identified.
16 PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, CLAVERDON 15. Prior Year Adjustment Dunng the year the trustees identified Ihal an amount previously included within general funds was 5ubiecl to the lems of an endowment fund. Specifically this misclassificalion of funds in the prior year related to hisloric legacy {The Price and Tilley endowment} the provisions of which it has been discovered mean thal only the income and not the capital of the associated investment fund can be used for general purposes In accordance with FRS 102 and the Charities SORP. the comparative figures have been restated lo reflect the correct allocation of funds. The adjustment has no impact on lolal funds or the charity's financial position. but affects the analysis of funds between unreslricled and endowmènt balances. The effect of the restalemenl is shown below.. Fund Opening balance as previously ststed Adjustment. Openlng balance as restated General Funds £122.107 1£21,9211 £100.186 Endowment Fund £ 64,433 £21,921 £ 86.354 Restricted Funds £144 892 £0 £144 892 Total Funds £331,432 £0 £331,432 The trustees have reviewed the controls around fund classification and are satisfied that appropriate steps have been taken lo ensure that funds are correctly allocated going fotward.