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2025-12-31-accounts

ANNUAL REPORT and FINANCIAL STATEMENTS

of the

PAROCHIAL CHURCH COUNCIL

of

Holy Trinity and Christ Church, Richmond, Surrey

for the year ended

31 DECEMBER 2025

Encounter Jesus - Build Community - Seek Transformation

Charity Registration Number 1129640

Registered Charity The Parochial Church Council of the Ecclesiastical
Parish of Holy Trinity and Christ Church, Richmond,
Surrey
Charity Registration Number 1129640
Address Holy Trinity Church Centre
Sheen Park
Richmond
Surrey
TW9 1UP
Charity Commission website www.charitycommission.gov.uk
Web address www.htrichmond.org.uk
Churchwardens Mr James Thornton (to May 2025)
Mr Keith Nurse
Mrs Louise McFerran (from May 2025)
Treasurer Mr David Ewart, CPFA
Principal Bankers National Westminster Bank plc
22 George Street
Richmond
TW9 1JW
Independent Examiner Mr John Helm ACA
Tandem Accounting Limited
17 Heathville Road
London N19 3AL

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Table of Contents

Annual Report of the Parochial Church Council .................................................................................................4 Independent Examiner's Report to the Parochial Church Council .................................................................. 14 Statement of Financial Activities ...................................................................................................................... 15 Balance Sheet .................................................................................................................................................... 16 Statement of Cash Flows .................................................................................................................................. 17 Accounting Policies ........................................................................................................................................... 18 Income (note 2) ................................................................................................................................................. 20 Expenditure on Charitable Activities (note 3) .................................................................................................. 21 Mission & Charitable Giving (note 4) ............................................................................................................... 22 Trustee and Staff Costs (note 5) ....................................................................................................................... 23 Tangible Fixed Assets (note 6) .......................................................................................................................... 24 Debtors (note 7) ................................................................................................................................................ 24 Creditors - amounts due within one year (note 8) .......................................................................................... 24 Unrestricted Funds (note 9) .............................................................................................................................. 25 Restricted Funds (note 10) ............................................................................................................................... 26 Restricted Funds (note 10) (continued) ........................................................................................................... 27 Operating Lease Commitments (note 11) ........................................................................................................ 27 Net Cash in Use (operating activities) (note 12) .............................................................................................. 27 Related Parties (note 13) .................................................................................................................................. 27

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Annual Report of the Parochial Church Council

Introduction

The Parochial Church Council (PCC) of Holy Trinity and Christ Church Richmond submits its report and the financial statements of the PCC for the year ended 31st December 2025. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)) and the Financial Reporting Standard 102.

Administrative Information

Holy Trinity Church is situated on Sheen Park, Richmond, Surrey. It is an Anglican (Church of England) Church which is part of the Kingston Episcopal Area of the Diocese of Southwark. The correspondence address is:

The Church Office, Holy Trinity Church Centre, Sheen Park, Richmond, Surrey, TW9 1UP

Under the terms of Section 3 of the Parochial Church Council (Powers) Measure 1956 the PCC is a body corporate and as of 15th May 2009 has been a charity registered with the Charity Commission as required by the Charities Act 2011, under registration number 1129640.

Structure, governance and management

Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. All regular church attendees are encouraged to register to be on the Electoral Roll and stand for election to the PCC. The most recent APCM was held on 11th May 2025, referred to below as APCM 2025. During the period from 1st January 2025 to 10th May 2026, the following served as members of the PCC:

Vicar Rev Dan Wells (to January 2025) PCC Chair, Standing Committee
Interim Incumbent Rev Eils Osgood (from March 2025) PCC Chair, Standing Committee
Associate Vicar Rev Eils Osgood (to March 2025) Standing Committee
Wardens James Thornton (to May 2025) PCC Lay Vice Chair, Standing
Committee
Keith Nurse PCC Lay Vice Chair, Standing
Committee
Louise McFerran (from May 2025) Standing Committee
Representatives on the Deanery Susan Armstrong
Synod Cathy Hewett
Holly Morris**
Elected members Karin Boyton
Laura Duckwith Standing Committee
Dr Elizabeth Lek
Joy Toledo Hardy *
Anke Marais PSO
Martin Phillips Building Committee Chair
David Ewart Treasurer, Standing Committee
Mark Lambert**
Matthew Lambert**
Lisa Davidson**
Louise McFerran*
Holly Morris*
Also in attendance Liz Morris Operations Manager & PCC
Secretary

Parish Safeguarding Officers (PSO) Anke Marais, Graham Bamping

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Any member of the church who is on the Electoral Roll can be nominated for election to the PCC in accordance with the Church Representation Rules. Normally a balance of new and established members is elected each year, and if necessary, members are co-opted where they have a specific expertise. All decisions are taken by the PCC unless delegated to sub-committees or staff members. There are several established sub-committees and groups which meet between the full meetings of the PCC. These include:

Safeguarding

Regarding the PCC’s obligations to safeguard children and vulnerable adults, the members of the PCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults), and the Charity Commissions’ guidance on safeguarding. Details of some of the steps taken to meet obligation are outlined in the rest of the report.

Induction & Training

The induction process for any church member newly appointed to the PCC currently comprises briefing by the Operations Manager (Secretary of the PCC) and receipt of copies of the minutes from the most recent meeting. The PCC Secretary also provides a copy of the current budget, the most recent financial statements, guidelines on the obligations of PCC members (the Charity Commission’s guidance ‘The Essential Trustee’) and the Parish Safeguarding Handbook. The PCC is committed to maintaining high standards of governance and financial management in accordance with current developments in church and charity regulation and good practice,

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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and to this end aspires to provide training opportunities to PCC members as appropriate, including a requirement to complete the relevant safeguarding training.

Risk Management

The PCC continues to consider and discuss key risks facing the church, including health and safety issues, electrical and fire considerations and procedures surrounding our finances and safeguarding matters. The PCC continues to review and develop the strategic direction of the church and considers how its exposure to risk changes. Members of the PCC are aware of the potential risks (financial, operational or with regard to safeguarding) that might occur either in the church or in the Church Centre. The PCC takes a practical approach and implements policies where they are needed, along with the appropriate course of action to control and minimise these risks.

The PCC considers the principal risks and uncertainties facing the church and their plans and strategies for managing these risks to be:

Financial Viability:

Major security, safeguarding, or health & safety or another incident:

Quinquennial

The last quinquennial inspection was undertaken in February 2021. The main observation was that the church building is generally in good condition and well-maintained. However, pressing maintenance issues were identified regarding the roof and stonework of the main church building. The PCC commissioned research and plans that where underway mainly in 2023 to help plan for what will be fairly major works to address these and other issues. The next quinquennial is scheduled to be carried out during 2026.

Objectives

Holy Trinity and Christ Church PCC, Richmond has responsibility for co-operating with the Vicar in promoting in the parish the whole mission of the church, evangelistic, pastoral, social and ecumenical. Holy Trinity is a church who would summarise our purpose in a simple statement: “We exist as a church to Encounter Jesus - Build Community - Seek Transformation”. These words help us to remember our calling as a community: to build that community and invite others to be part of it, to seek transformation and to focus on Jesus above all else and to remember that we do this with Him and in His power and strength. The PCC also has maintenance responsibilities for Holy Trinity Church Centre.

The PCC met seven times during 2025 to oversee the life and mission of the church. Key areas of focus included:

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Staff Team

A key factor in progressing the ministry and mission of the church is having a staff team that takes responsibility for aspects of this work, under the direction of the Vicar. All of the staff team are actively involved in the life of the Church, many of the team regularly preach at and lead services. Some of their roles are full-time and others part-time:

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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The team provided dedicated support across a wide range of ministries. Key highlights included the Children’s Holiday Club and midweek youth activities, as well as the successful expansion of our annual church trip.

Use of Volunteers

Maintaining enough volunteer support is an ongoing priority for the church. While we have seen some positive momentum this year, encouraging individuals to serve in vital roles remains essential as our activities expand. Key volunteers have been instrumental in the running of the Church this year in the following ways:

Public Benefit and activities in 2025

The PCC has carefully considered the Charity Commission's guidance on public benefit and demonstrates this through the following activities:

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Worship and Spiritual Growth:

Children and Youth:

Community Outreach and Support:

Leadership Development:

Mission Partnerships:

The church provided financial support to the following local and overseas mission partners:

In addition, the Church supports the wider Church in Richmond and the Diocese of Southwark by

A full list of mission and charitable giving is available on page 22 of this report.

Community Engagement and Support:

Holy Trinity Church provided support to:

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Pastoral Care and Church Life:

The Vicar, Associate Vicar (to March 2025), Churchwardens, Readers, staff team, and other volunteers:

Church Attendance & Community Services

There were 117 parishioners on the Church Electoral Roll as at 31st December 2025, of whom 33 were resident within the parish. The average weekly church attendance at services during October 2025 was 117.

Community Services 2025 2024
Marriages 1 1
Baptisms 1 5
Funeral and Thanksgiving Services at the church 0 1
Funerals at the Cemetery Chapel 0 0
Cremation Services 0 1
Graveside committals & burial of ashes 0 0
Crematorium committals 0 0

Financial review

Total income (including restricted giving) was approximately £6,000 higher than in 2024, mainly due to higher regular giving, partly offset by lower investment income.

Of the PCC's total income approximately 83% (2024: 80%) comes directly from voluntary giving, primarily from church members, mostly as tax-efficient planned or one-off giving (Give as You Earn or Gift Aid donations). Without this level of giving the church could not support the current and planned level of activities.

Unrestricted Funds - Gross Income for the year increased by about 1.9%, mainly due to higher regular giving but offset by lower interest receipts, while expenditure rose by about 1.3% to £471,700 mainly due to inflation, resulting in Net Income of £33,000 (2024: £29,000). Unrestricted income is used to support all the general work of the church including the giving through the Outreach budget and the support of the wider Church through the Parish Support Fund.

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Voluntary Income (encompassing planned and unplanned giving, and the associated tax reclaim) - Increased by £12,642 to £452,684.

The largest area of expenditure for the PCC is the cost of employing 6 current staff (4.88 FTE) staff which stood at £171,383, excluding payments to the Diocese of Southwark.

Our Parish Support Fund contribution (payments to the Diocese of Southwark partly to cover the payroll and pension costs of the Vicar and the cost of clergy housing but also to support other parishes) was increased by 3.5% following a decision by the PCC, to £135,564 in 2025. The Parish Support Fund is based on principles of proportionality, informed generosity, and an aspiration and encouragement to parishes to become selffinancing.

Overall - the Statement of Financial Activities reflects overall net income for the year of £33,269. This is a modest surplus, but a significant improvement on the budgeted figure.

Outlook - 2026 promises to be another very challenging year, with a continuing high level of uncertainty. However, the generosity of the congregation has allowed the PCC to budget with some confidence, although with a deficit in the Unrestricted General Fund.

In setting this budget the PCC has anticipated a 1.3% increase in the overall levels of budgeted income, and a 2.6% increase in the overall budgeted expenditure.

Reserves policy

The PCC continues to work to raise awareness of the funding requirements and encourage our congregation to respond accordingly. In the meantime, the PCC has agreed to carry Free Reserves of at least two month's expenditure (at normal levels of activity), currently about £86,000, which is what we are carrying from 2025, to help cover any future issues (see table below).

It is PCC policy to budget for our expenditure needs according to the amount of voluntary giving that the church expects to receive during the year, although for 2026, the PCC has budgeted for a modest deficit. The PCC has examined the requirements for “free reserves”, i.e. those unrestricted funds not invested in tangible fixed assets or set aside for known future commitments. The PCC considers that, as all income is used to further the ministry of the church, it is appropriate to keep free reserves, represented by the General Fund, at a minimum.

The PCC is of the opinion that proactive upfront fund raising and the provision for known future commitments provides sufficient flexibility to cover any temporary shortfalls in incoming resources and will allow the church to cope with and respond to current and any future unforeseen emergencies whilst specific action plans are implemented if required.

Investments policy

Surplus funds are invested with the CCLA - CBF Church of England Deposit Fund which continues to offer security but relatively modest market rate of interest. (Since the balance sheet date CCLA has been acquired by Jupiter Fund Management PLC)

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Grant making policy

On-going Outreach: The PCC's policy is to use the outreach budget in support of local and overseas mission partners, subject to other commitments, to invest in the growth of the church. This represents a long-term commitment to several organisations.

Gift Day: The PCC decided that all of the Gift Day voluntary income, including the associated tax reclaims, should be given to the work of organisations separate from the PCC. This provided significant one-off support to Wycliffe Bible translators, LVA Trust and Tearfund .

Other: Alongside these commitments, the PCC supports ministry across the Diocese through the Parish Support Fund, and by providing free office and meeting room space to Kick and Riverbank Trust. Outside the church accounts, church members provide support to Karis Kids families in Uganda and other charities

Plans for Future periods

The past year has been a significant season for Holy Trinity Richmond, marked by the departure of Dan Wells as Vicar, and the induction of Eils Osgood, as well as a number of changes within our staff team. Our core identity as a charismatic evangelical Anglican church remains the same, but the PCC has gone through a process of renewing our Vision and Strategy for the years ahead.

Our new stated vision is to be a vibrant, growing church at the heart of our local community, where people will encounter Jesus, find a home in a loving church community, know God’s transforming work in their own lives, and be part of his transforming work in the world.

Some of our key strategic priorities moving forwards towards that vision are as follows:

PCC Responsibilities in relation to the Financial Statements

The PCC is responsible for all parish finance, its management and control, including the appointment of a treasurer. While it may delegate some of its duties, this does not remove its legal responsibilities. Charity law requires the PCC as trustees of the church to prepare an annual report and financial statements for each financial year that give a true and fair view of the church's financial activities during the year and of its financial position at the end of the year. The PCC is also required to ensure that these are subjected to an annual independent examination or audit (as appropriate) and to present these to the Annual Parochial Church Meeting in accordance with the Church Representation Rules. In preparing these financial statements, the PCC is required to:

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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The PCC is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the church and enable them to ensure that the financial statements comply with the Charities Act 2011 and applicable accounting standards. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

These accounts were approved by the PCC on 16[th] March 2026.

The attached accounts on pages 15 to 27 were adopted by the Annual Parochial Church Meeting on 10[th] May 2026.

Rev Eils Osgood Interim Incumbent and Chair of the PCC, for the PCC 16 March 2026

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Independent Examiner's Report to the Parochial Church Council

I report on the financial statements of the PCC for the year ended 31st December 2025 set out on pages 15 to 27.

This report is made solely to the PCC in accordance with section 145 of the Charities Act 2011 (the Act). My independent examination has been undertaken so that I might state to the PCC those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by the law, I do not accept responsibility to anyone other than the PCC for my independent examination, for this report, or the opinions I have formed. The PCC’s gross income exceeds £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

Respective Responsibilities of the PCC and the Examiner

The PCC is responsible for the preparation of the accounts. The PCC considers that an audit is not required for this year (under section 144(2) of the Charities Act 2011) and that an independent examination is needed.

It is my responsibility to:

Basis of my Report

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the PCC concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

Independent Examiner's Statement

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

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

John Helm ACA 10 May 2026

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Statement of Financial Activities For the Year Ended 31st December 2025

----- Start of picture text -----
Unrestricted Restricted Total Unrestricted Restricted Total
Notes Funds Funds Funds Funds Funds Funds
2025 2024
£ £ £ £ £ £
Income from: 2
Donations and Legacies 397,886 54,799 452,685 392,880 47,180 440,060
Charitable activities 6,767 - 6,767 5,639 - 5,639
Other trading activities 33,718 - 33,718 33,476 - 33,476
Investments 53,375 - 53,375 62,416 - 62,416
Other 1,202 - 1,202 531 - 531
Total income 492,948 54,799 547,747 494,942 47,180 542,122
Expenditure on:
Charitable activities 3&4 459,402 55,076 514,478 465,589 54,272 519,861
Total Expenditure 459,402 55,076 514,478 465,589 54,272 519,861
Net gains/(losses) on investments - - - - - -
Net Income 33,546 ( 277) 33,269 29,353 ( 7,092) 22,261
Gains/ (losses) on Disposals of Fixed Assets - - - - - -
Transfers between funds - - - ( 354) 354 -
Other recognised gains and losses - - - - - -
Net movement in funds 33,546 ( 277) 33,269 28,999 ( 6,738) 22,261
Total funds brought forward 9&10 855,240 454,959 1,310,199 826,241 461,697 1,287,938
Total funds carried forward 9&10 888,785 454,682 1,343,467 855,240 454,959 1,310,199
----- End of picture text -----

The notes on pages 18 to 27 form part of these financial statements

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Balance Sheet

As at 31st December 2025

Approved by the Parochial Church Council on 16 March 2026 and signed on its behalf by:

Rev Eils Osgood Interim Incumbent and Chair of the PCC

David Ewart, CPFA Treasurer

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Statement of Cash Flows For the Period to 31st December 2025

Statement of Cash Flows
For the Period to 31st December 2025		 Statement of Cash Flows
For the Period to 31st December 2025
Unrestricted
Restricted
Funds
Funds
Note
£
£		 Total
Funds
2025
£		 Total
Funds
2024
£
Net cash in use (operating activities)
12
( 20,116)
( 12,578)		 ( 32,694) ( 13,427)
Cash flow from investment activities
Interest from investments
Net cash provided by investment activities
Cash used for Capital Expenditure
Capital expenditure
Net cash used as a result of capital expenditure
Change in cash and cash equivalents
Cash and cash equivalents at the beginning
of the Year
Cash and cash equivalents		 53,375
-
53,375		 62,416
53,375
-
525
-
53,375

525		 62,416
-
525
-
525		 -
32,734
( 12,578)
20,681
811,802 464,025 1,275,827
844,536
451,447
1,295,983		 48,989
1,226,837
1,275,827
1,275,827
1,295,983

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of Accounting

The financial statements have been prepared under the requirements of the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102), 2015) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting.

The financial statements 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 an affiliation to another body or those that are informal gatherings of church members.

The PCC meets the definition of a public benefit entity under FRS 102.

Going concern

Each year it’s the PCC’s responsibility to state whether or not the annual accounts have been drawn up on a going concern basis. Going concern is the assumption that an entity, in this case the PCC, has the resources (financial or otherwise) needed to continue operating for the foreseeable future and, in particular, for at least 12 months from the date of approval by the PCC of these annual accounts. If the going concern principle did not apply, then the accounts would be drawn up on an insolvent basis

As part of this year’s going concern review, the PCC has reviewed its financial plans for 2026. This review indicates that, although it achieved a surplus in 2025 mainly due to one off factors, it is budgeted to incur a deficit in 2026, but the cash reserves are more than adequate to absorb any likely deficit. Accordingly, it has concluded that it is appropriate to prepare the 2025 Accounts on a going-concern basis and that it is not necessary to make any adjustment to these accounts.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the Charity has entitlement to the income, it is probable the income will be received, and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

The income from trading activities includes rental income from the letting of church premises which is accounted for when earned. It is shown gross, with the associated costs included in the appropriate part of the accounts.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value.

Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants made and governance costs. Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.

The PCC is not registered for VAT and accordingly expenditure includes VAT incurred where appropriate.

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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The PCC contributes to all its employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the PCC. The cost in the accounts is the amount of contributions paid and payable during the year.

Rentals under operating leases are charged as incurred over the term of the lease.

Tangible Fixed Assets

Consecrated Property and Moveable Church Furnishings

Consecrated land and benefice property such as the church building, and vicarage is excluded from the accounts in accordance with sec 10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal and are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Other Fixtures, Fittings & Office Equipment

Historically the cost of furniture, fittings and equipment has been expensed. From 2020 furniture, fittings and equipment costing more than £500 has been capitalised and depreciated on a straight-line basis over their useful life which is currently taken to be 3 years for IT equipment, 10 years for projection equipment and 30 years for the grand piano.

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the PCC has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the PCC are either:

A brief description of the different types of funds held by the church is detailed in notes 9 & 10. Where appropriate, the PCC will set up a designated fund in anticipation of future commitments, and a transfer is made from the General Fund. Where the prospective commitments crystallise, transfers are made from the designated fund to the General Fund.

Presentation of accounts

While every effort has been made to ensure the accuracy of these accounts, please note that some tables may have minor rounding differences. These do not affect the overall integrity of the financial position.

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Income (note 2)

----- Start of picture text -----
Unrestricted Restricted
Total 2025 Total 2024
Funds Funds
£ £ £ £
Donations and legacies
Planned Giving 283,755 - 283,755 248,776
One-off Giving 67,306 - 67,306 65,485
Tax on Planned and One-off Giving 46,806 - 46,806 47,642
Collections at services 20 - 20 60
Legacies - - - 10,513
Gift Day (including tax refund) - 42,249 42,249 46,171
Missionary Collections - 550 550 492
Grants received - 12,000 12,000 20,404
Discretionary Fund (including tax refund) - - - 517
397,886 54,799 452,685 440,060
Other trading activities
Church Centre - Rental Income 33,718 - 33,718 33,476
33,718 - 33,718 33,476
Charitable activities
Fees (net) 362 - 362 200
Church Activities (gross income from church activities) 6,405 - 6,405 5,439
6,767 - 6,767 5,639
Investments
Deposit interest 53,375 - 53,375 62,416
53,375 - 53,375 62,416
Other
Sundries 1,202 - 1,202 531
1,202 - 1,202 531
Total income 492,948 54,799 547,747 542,122
----- End of picture text -----

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Expenditure on Charitable Activities (note 3)

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Mission & Charitable Giving (note 4)

More information on some of the recipients of our giving can be found in the section on Public Benefit and activities in 2025 (Pages 9 to 10).

Holy Trinity Church, Sheen Park, Richmond, Surrey, TW9 1UP

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Trustee and Staff Costs (note 5)

Trustee Remuneration and Expenses

None of the members of the PCC was remunerated or reimbursed for their expenses in their capacity as PCC members. However, the PCC did reimbursed members for travel, training, and hospitality expenses incurred on church business (see note 13 below for details). Staff costs include the following payroll costs:

Staff Costs

The above table is in respect of the staff directly employed by the PCC and excludes payments to the Diocese of Southwark.

As at 31 December 2025 the PCC employed 6 staff (31 December 2024: 6). Some members of staff are part time, equating to 4.88 full time equivalents (2024: 4.71).

The PCC introduced a defined contribution pension arrangement in April 2015 for staff it employs. The PCC matches employee contributions up to a certain level which was increased in 2024, with arrangements that are more generous than the statutory requirement. The PCC is using The People's Partnership as its pension provider.

Key Management Personnel - The Clergy members of the Standing Committee received expenses as set out in the Diocese of Southwark’s guidance. The total remuneration (including employer pension contributions) paid to the Operations Manager and PCC Secretary, who is considered key management personnel, was £42,767 (2024 £37,569).

No employee received remuneration in excess of £60,000 (2024: none)

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Tangible Fixed Assets (note 6)

Holy Trinity Church Centre, including the building complex attached to the church, is the base for all administrative and community activities carried out by the PCC. The clergy and staff offices are also located in the Church Centre.

Plant, Equipment and other fixed assets costing more than £500 are capitalised and depreciated over their useful life which is currently taken to be between 3 and 30 years.

Debtors (note 7)

Creditors - amounts due within one year (note 8)

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Unrestricted Funds (note 9)

----- Start of picture text -----
As at As at
Other
Recognised
Gains &
Current year 01-Jan-25 Income Expenditure Transfers Losses 31-Dec-25
£ £ £ £ £ £
General Fund 115,241 492,948 ( 459,402) ( 30,000) - 118,786
Designated Funds:
Building Fund 729,359 - - 30,000 - 759,359
Mission Fund 10,640 - - - - 10,640
855,240 492,948 ( 459,402) - - 888,785
As at As at
Other
Recognised
Transfers
Gains &
Prior year 01-Jan-24 Income Expenditure Losses 31-Dec-24
£ £ £ £ £ £
General Fund 114,242 494,942 ( 465,589) ( 28,354) - 115,241
Designated Funds:
Building Fund 701,359 - - 28,000 - 729,359
Mission Fund 10,640 - - - - 10,640
826,241 494,942 ( 465,589) - 354 - 855,240
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Note: The transfers in the above table are in respect of a £28,000 movement of surplus funds to the Building Fund and a small adjustment of £354 to adjust the balance of the Discretionary Fund.

Designated building fund : This fund was set up to allow for periodic repair and maintenance work to the fabric of the Church and Church Centre. Following the 2005 Quinquennial Review the PCC decided to put aside a sum each year to help cover the likely cost of replacing the main roof and other works. In 2023 as the PCC had agreed to fund a number of studies into the feasibility of undertaking these works, no transfer was made. The 2021 Quinquennial Review confirmed the need to carry out work on our main roof, guttering and stonework shortly, and we are looking to schedule this work alongside other refurbishment work and further development of our building.

Designated Mission Fund: This fund was set up to support Church members gain experience of mission work overseas.

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Restricted Funds (note 10)

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Other
Recognised
As at Gains & As at
Current year 01/01/2025 Income Expenditure Transfers losses 31/12/2025
£ £ £ £ £ £
Youth & Children's Minister's Housing Fund 371,794 - - - - 371,794
Discretionary Fund 7,787 - ( 277) - - 7,510
Church Plant Fund 7,000 - - - - 7,000
Gift Day Fund 565 42,249 ( 42,249) - - 565
Building Fund (Restricted) 67,813 - - - - 67,813
Missionary Collections - 550 ( 550) - - -
Building Repair Grant - 12,000 ( 12,000) - - -
Total 454,959 54,799 ( 55,076) - 454,682
Other
Recognised
As at Gains & As at
Prior year 01/01/2024 Income Expenditure Transfers losses 31/12/2024
£ £ £ £ £ £
Youth & Children's Minister's Housing Fund 371,794 - - - - 371,794
Discretionary Fund 14,526 517 ( 7,610) 354 - 7,787
Church Plant Fund 7,000 - - - - 7,000
Gift Day Fund 564 46,171 ( 46,170) - - 565
Building Fund (Restricted) 67,813 - - - - 67,813
Missionary Collections - 492 ( 492) - - -
Total 461,697 47,180 ( 54,272) 354 454,959
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Note: The 2024 transfers represent a minor adjustment to align the discretionary fund with the actual balances held in the main church accounts.

Youth & Children's Minister's Housing Fund : Was created in 2007 as the result of a fund-raising campaign, the Sparrow Project, with a view to purchasing a residential property for the Youth & Children's Minister. The purchase was funded by a mix of one-off donations, donations made over a number of years and some interest free loans. A leasehold flat was purchased in August 2007. By December 2012 all loans were repaid. In accordance with our Accounting Policy, the increase in the carrying value of the PCC's leasehold property as a result of the tri-annual review was recognised as gains against this Fund. Following a review of the use of the flat during 2021, the flat was sold in September 2021, with the proceeds, less costs, retained in the Fund.

Discretionary Fund: The Discretionary Fund is managed confidentially, in cases of hardship within the congregation, by the Vicar (Dan Wells (to January 2025) Eils Osgood (from March 2025)), one of the Wardens (James Thornton (to May 2025) Louise Mcferran (from May 2025) and Liz Morris (Operations Manager). It is currently administered by Keith Nurse. The figures in the accounts include the value of loans made by the fund and yet to be repaid.

Church Plant Fund: This fund is to help fund the next Church Plant proposed by the Church.

Gift Day Fund : This represents the balance of funds collected by the Gift Day collection, over and above the amounts given to the various recipients of the collection.

Building Fund: These funds are held to meet the costs of a new building project to be carried out by the PCC. In the past, the PCC did not split investment interest between the restricted and unrestricted parts of this fund, as any surplus income was kept within the fund to support the future needs of the project. After

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Restricted Funds (note 10) (continued)

reviewing the requirements of Charities SORP (FRS 102), the PCC has agreed to change this approach. The revised approach will be applied in future years.

Missionary Collections: These funds are collected during services for designated mission partners and are disbursed directly to them throughout the year.

Operating Lease Commitments (note 11)

The total future minimum lease payments under non-cancellable operating leases payable are set out below:

Net Cash in Use (operating activities) (note 12)

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Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2024
£ £ £ £
Net income/ (expenditure) for the year
(as per Statement of Financial Activities) 33,546 ( 277) 33,269 22,261
Adjustment for:
Interest on investments ( 53,375) - ( 53,375) ( 62,416)
(Increase)/ decrease in debtors ( 4,634) ( 1,309) ( 5,942) 12,199
(Increase)/ decrease in creditors 1,052 ( 10,992) ( 9,940) 11,409
Depreciation Charges 3,295 - 3,295 3,120
Net Cash Used in (operating activities) ( 20,116) ( 12,578) ( 32,693) ( 13,427)
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Related Parties (note 13)

Riverbank Trust (Charity Registration Number 1143758): The PCC contributed £4,000 in regular donations (2024: £4,000) and provided office space and support. Geraldine Stride (a former PCC member and the current Mission Group Chair) is Riverbank's Chair, Anke Marais (PCC member) is employed by the Trust, and our Vicar (to January 2025) Dan Wells was a Trustee.

Vineyard Community Centre (Charity Registration Number 1143951): The PCC contributed £1,500 in regular donations (2024: £1,500). Cathy Hewett (PCC member) has a relative employed by the Centre.

Regarding potential conflicts of interest, Rev. Eils Osgood (Interim Incumbent, previously Associate Vicar, and Chair of the PCC also a Standing Committee member) recuses herself from all staff pay and conditions discussions due to her marriage to Matt Osgood, the PCC-employed Associate Pastor.

Holly Morris a PCC member recuses herself from certain staff pay and conditions discussions due to her mother being the PCC employed Operations Manager.

PCC members donated £49,338 to the church (2024: £45,144), net of tax reclaims. One PCC member received reimbursement for expenses totalling £922 for travel, training, and hospitality incurred on church business (2024: two of 16 members, £1,314), in accordance with Diocesan guidance.

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