RICHMOND TEAM MINISTRY ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE REPORT AND ACCOUNTS FOR THE YEAR ENDED.11 DF.CEMBER 2024 Registered Charit), No 1130018
RICHMOND TEAM MINISTRY ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THF. DIVINE INDEX TO THE REPORT AND ACCOIIISTS FOR THF. YEAR FNDED 31 DECEMBER 2024 PagTe No. Minislry Information Annual Repon t.or 20?4 Auditor s Report Statement of Finaiicial ActiN'ities 13 Balance Sheet 14 Siateineiit of C<ish FIoiN's Notes to the AccoLints 16-25 Siateineiit of Coiiiicil Meiiibers. Rcsponsibililies 25
RICHMOND TEAM MINISTRY ST MARY MAGDALENE, ST MATTHIAS AIND ST JOHN THE DIVINE MINISTRY INFORMATION CLERGY The ReN,d Canon Wilma Roest, until 31 Dec¢niber 20?4 Team Rector & Vicar iNith pastoral care of St Mary MagJdaleiie The Vicdfci&ye Oriiiond Road Ricliiiioiid TWIO 6'fH The Rel'd Aline Craii'tord Teaiii Vicar, ith pastorc21 care ot- St Matihias St. Mattl)ias Hoii%e ?? Cc1nibrian Road Ricliiiiond I'W10 C)JQ Tlie Revd Joe Moore -reillii ViL1L r Si .Ic)hii Ihe Divine KLII Road R iLlini(Ind TW9 2NA Tlie Rei'd Cl)1( rlc)tte Midclleton Ciir¢il¢ li) Il)L Ri¢liiiioiid -1 ¢¢llll 8 LIILirLlI Walk Ricl)niond TW9 ISN KF.Y MANAC:F.MF.NT PERSONNEL Mciiibers ot'the PCC (listed on pag?es 6 & 7) ADDRISS Si M<2tilii<q.s Church C'hiirLlI IIo&id Riilinioiid SiirreN' 'FWIO 61.S BANKERS Nalioiial Westminster Bank PIC ?? Georgie Street Rillimond Siirrey TW9 IJW AIIDITORS Xeinadin Alidii Limited 5 Robin Hood Lane Siitton Siirrey SMI 2SW
RICHMOND TEAM MINISTRY
ST MARY MAGDALENE, SI. MATTHIAS AND ST JOHN THE DIVINE
ANNUAL REPORT
For the )ear ended 31 December 2024
Richmond Team Ministn, (R TM) i.s esil< bl ished ui)der the Piirochial C'hiircli Counci l (PoiN'ers) Measiire 19)6
as amended and Chiirch Represeiitalioii Rules (set out in s¢h¢dule 3 to tlie Si'nodical Measiire 1969) as
amended.
The tinancial slcltements hal'e been prepared in accordance itli tlie Churcli Accoiinting Re¥vulations 2006 and
in acLordaiice li lili the C'liq< rities Statement ot" Recomiiiended Pr16 Ctice (Charities SORP (FRS I O?)} and
Finaiicial Reportingy Stand.?rd l O? I FRS 1021.
OB.IF.CTIVF.S
J'IIL P<ifoLlii<il L'liiircli L oiinL il { PL L ) is responsible for cooperatiiiu ii'ith tlie cl¢rgv in promc)tinL the m ission
ot" Ihe Chlircli pastoral, ei'illllFelistiL, ecLimeiiiL1I l. and SOL Icl1 ihroii(IhoLlt the ecclesiastiLal p.Irish. It (Ilso has
niaintenaiice responsibilities for tlie three ¢hiirLhes, in tlie parish iob)ether ith the ()1.[7Lrs]l ip ot" investment
propL'rties <ll)d Si Matth ias House.
The three cliLifLhes. from li hich Inenibers of the PCC are draii n. aim to be open ic nd incliisive comni Linities.
siis1&1ining' pcople in Iheir lii.'es IK'L'II as on Il)eir.joiiriie)'s of faiili. ii¢lLc)iiiing qiieslioi)s. laLiiig) lip to tli¢
cliallengFes ()t' ()Iir iine(Illiil ii-c)rld. ciiid sLrN'in& tlIL i¥'idLr coiiiiiiiiiiitN' iii Ihe li
RICHMOND TEAM MINISTRY
ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DiifINE
serN ice at St MaTr Maiydalene &qiid in Septeinber Ihe 1st Richmond Scout Group attended the Harvest Festival
servic¢ at St Matthias.
Duriiig 2024 'Prayers of Love and Fcllth. iihich are praNiers of IhaiiksgFiving. dedicatioiTr aiid lisking for God's
blessino for same-sex couples (including CO'¢nanted f i-icndsliips) IlLre approi'ed b! tlie FIoLise of Bishops aiid
PLiblished. These are for use in re(yiilar seniices, but this does not inclLide iN'eddings. Tlieir use is at the
m ini.%ler' s discretion arid no iii inister can be forLed to LISL them. The PCC iiiianimousl). agJreed thal a5 %e are
P<2n ot inLliisii'e LhiirLli and in k'eepincy li ith oiir iii itssion 5tateiii¢iit, R TM ii'oiild iise ihe Coiiimended Eleinents
of Prai'ers of Loi,e aiid F<1itli. Tlie Pc L exprLssed di.sappoiiitiiiei)t il iiol i ct POssiblL tor ils L lerb} to Inarry
S&2n)e-sex couples aiid the!, look'ed forii'ard to the daN' Iliclt 11 Olild be Possible.
Bible Stiidies ii'ere held durin&J the J e<if L()'¢r11]i7 the Son(y ot" Sonus and Hebrel'S and also niolithl )' reflective
art aftei-ii(Ic)ns, 'Oiie Iiiiur of. qliiel LfL'alik'itN'" g) ivingy the opportunit). to respoiid creatiwelN' to N'arious themes
i thin proiiipts sulh as SanLtU
RICHMOND TEAM MINISTRY
ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE
2. Crealinby opportunities for learningy and gr0¥.1ng in faitli through.
Bibl¢ stiid).
Adi'eT)l andlor Lent Leetlire series on faith and faitli in art
Ensiiriii(F the is greai¢r aNNareiies5 of ii'hat li e can do t-or the planet and people,
throLlCYh.
Targyeted preacliing
Working) toi¥'ards broiize and sili'er aiN'ards tor Eco cliurLh
Making7 our chlirch bui Idingis a retlection of our env'ironmental theoli)Qy
Mosl ot.the objectiN'es hai'e been achieved bv the excellenl iOrk. doli¢ b), Ihe CYPM Leader ivith cliildren and
)'OLinL peoplL: Ihe Green Teclm s iN'ork on eLoloipiLal i4siies aroiind tli¢ chiirLh¢s aiid ()ppc)rtiir)ities for le¢lrii incy
and gFroi¥'iii(J through faith as desLribed above (Bible studies, Lent Lectiires, art ai)d Ialks). A ne MAP needs
to be draiN'ii lip for tlie fiitlire, but, iii of tlie c?PP()intiiieiit of a iieii ReLtor iiho could ha'e hislher oiN'n
SLig)g)estions ciiid ideas tor Ihi%. tli¢ Tec1ni Loiitiniied til L()nipl!' IN iih the cild one.
lil addition lo tli¢ Teani s MAP, eacli iiidii'idiial LhiirLh dre% lip thcir OIN n.
3. Children and Young People's Minislr)
Enim<2 STiiel l ie hlL S led Iliis m iiiislry.. hLlped b). tlie six members of the Chi Idren and Yoiing People Work. in{
Group. for tlie tiill year.
Jliiiior ChiirLlI tiir cliildrL'ii ()k'er the alie ot. 3 )'e1crs Nias held li eek-li, at Si Joliii the DIN inL aiid every second
leek (qt biitli Si Mary, MayJdaleii¢
RICHMOND TF.AM MINISTRY
ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE
Tlie Ma) Fair li as lield agiaiii iii ?0?4. St MarN' M .daleiie hcid its traditional stalls in tlie churc]1 ard raisiii
fiinds for Ihe Riclin)ond Soiip Kitelien and mLlSiC and d1( ncin(y i%'er¢ perform¢cl bi. iarioiis Iiroiips iiiside tli¢
cliiirch. Th¢ Friends of St Mattlii<1S held their usual BBQ 011 thL GrLen: SLlliiigJ top qualitN bLir¥ers and sausa(?es,
as i¥ell as Lak"es.
5. Risk Control
'I'he reg7iSter of risks draiiii up bN ihe Risk. Working GrL)LlP Il'as revieiwl'd aiid iipdaled eieTh' six montlis to
enslire al I releant risks li ere ideiiti tied aiid iii jlj(7iiled. l-h¢ iipdaied register ilas approv'ed bN the PCC ivliicli
holds c)1 ei'all rL'spoiisibil it) for risk maiiagyLmeiit.
AI I PCC members completed a simple skill) assessment. in order to idenl11 ihe balance ot" ski Il% aLross the
Committee Lind to shoii. ali). c re
RICHMOLND TEAM fvllNISTRY ST MARY MAGDALENF., ST MATTHIAS AND ST.IOHN THE DIVINE 9. Arts A BclPli5ni Card Art competition ivas launched for cards lo be gIen oli ihe daN or anniversary of Baptism to both adiilts and chi Idren. The coiiip¢titioii iNas open to all ic ges aiid iiiai)N beaiitifiil desions iN'ere subm itted, with IN inners trom all chiirches. On the feast day of St Mar). Maudalene, Monda}, 2? Jiili., RTM meinbers ii'ere invited tl) attend the National Gallery. to vieii, paintincFs ot" the patron saint. 10. Administration Staff Al tlIL end of- OLtI)ber. lie ii'elcomed a ne1. PropertN' and Facilities Man42oer, John Rushe, IN'ho is very, expi'rienLed in properti. nianaby<m<nl. Tli is me<1nt the ¢ldministratioii te¢2111 li'as tiiiallv Lomplete a(yain. li itli Jolin Palni¢r as Parish AdniinisiratL)r. DenisL Mahon!, as B()i)kinL15 Adminislralor. Johii Ruslie as Propertj. and Facilities M<ql)2< g)er and Jaines N icliol%()n a.% Verb)er. I n Deceiiiber Rutli Martin, our Reader. started acting as a temporaTr l ine Inai)a&Trer for tlie Parish otTice staff. easin() ilie biirdeii for churLli 'ardenS cind L lerg), dLirinb' tli¢ i'aL(IlliJ. I l. Finance and Propertv Oiir efticieIii tlll<lllLic21 ss'stems h(2 e been niic intained aiid regyular up-to-date infom)alic)n given to tlie PCC and Propeo aiid Finance C()mmiltee. The Parisli Giw ingF Schenie. pri)posed back. in JLine ?021. lia5 proved siiccesstul. cilÉhoiiiFh take up has ¢OTltiniied t() be sloNN'. ()nlN.' 7) p¢(Iple l)¢lN'e.j()IllL'cI the S¢liL'iiie since it 11 L1S laiinchLd. severcil of- 1](}177 qc re iiew doiiors. It iioiild be i'erN' hLlptiil if all of. the rLIipLilar donors iiould siN'ilcli lo tliis Sclieme. Oilierii i5e, giji'ing b}. Lc)IigTregyiltii)n iiieinblrs lias Inade b} sl£iiidinbi {)rder, eiivelopes or cash duringi serviLes or by iising Ih electronic mcqchines installed iii al I chLifLlies, tor doii6ltions b}, card. R TM, s l)arish Siipp()n Fiii)d Pledgye to %oiitliii'ark. DioLesc, for 20?4 li £340,000. illl iTILrease ol" £ l O,01)O on tlie ain()unl pledgyed for ?0?3. ChArilc1blL CJik ing, (Ai¥'a)' GiN'ingl L()i)li Iiiied to be ctlloLclted c)ii ilie tradilic)ii of iiil) iiigi. i.e. gTiving l O % of the v()liiiii¢iTr illLI)InL r¢LeiK'L(1. <11)d iii ?0?4 Ili Is cim()IiiilLd i() £ I C),000. 80 % i)I' tliis 1()l(il IV1( % di)11<ltLd ti) Lliur¢li_ b<Q5L'd Lliill'ltiL's aiid 5C)L iL'tIL'S <2iid ?(} % Ic) SLCLil<ir ()iiLs, IIIIS S¢LLilar ic I l()catlOJl L(ii'Lriiig l(l¢{il LIIiL rilies. rciilier tliaii iliose ruli liilti()nallN'. III addition. soLielies ¥¥itli i¥hiLh Lonb)rebYLlti()n niLmbLr% arc eitlier i1).()IVed or beiiefii froin '¢re prioritised. A fiirtlier aini ivas to give a l)igiher pri)porti()n lo charities ivork'iJ?gi i)ver%cas (65 % ) tlian to tliose workiiigy al lioine (350/0). "I'he PQC Loiifimied the Awav Giving l()r ?024 tollc)Iviiig) the r¢¢i)mnieiiclalic)i)s of. tlil Away Giving CJfoLlP ii,liich, in turn. Lonsidered reqiiesls Iroiii niciiibL"rs of tlie lii accordaiice i%'ith Ihe Reserves PolicK', see beloiw, RTM maiiitained three iiionths. Ivorth ol" expendilure, in Iinreslricted cash t"Iiiids. througihoLlt the }iear. -grl)' in ?O?J thL rLN' ised plaiis flir tlie Parisl) Rooiii% dei L.lopnieiit ere <ippri)i ed b). RiLhiiii)iid CoiiiiL il ¢1nd plaiiiiiiig pemi i5sioi) gliven. Work. on site is expectLd to start iii April 2025 aiid io be coiiipleted bj, the suiiiiiier of 20?6. STRUCTURE. GOVERNANCE and MANAC.EMENT Parochial Church Council (PCC) Membership Meiiibers ol" tl)e PCC <ire Lky (!//ic'i(i. Lc)-ciptLd c)r elecled bj. ilie Annual Parochial Cliiirch Meeting. The follc}ii jiicJ Ineiii b¢rs and ot"tiLer% %erv'ed diiriiig the )'ear: Clergv The Revd Canon Wilina Roest, (uiitil 31 December 2024) Tlie Revd Aiiiie Craii'ford Tlie Re.d Ji)seph Miiore l-he Revd L'liarlotte Middleton Secretary Margoi Gallie
RICHMOND TEAM MINISTRY
ST MARY MACDALENE, ST MATTHIAS AND.ST.IOHN THF DIVINF
Treasurer
David Bartlett - until 14 March 202)
Reader
Ruth Martin- from 19 Mai. 2024
ChurihiTr'ardens
Anihoiii Bell - from 19 Mai, 20?4
Jc)lin BuLkiiiiFhani
Liill Doliii(>
unlil 19 MaN' ?0?4
Salli. Gill
Alison Hall - froin 19 Ma), ?074
Eii)m<i Meredith - uiitil 19 MclN. ?0?4
Fi()na Mi)rgFan
Mary, RiLkett%
F.lecte(l Membe
Sleplieii Brc)Ivn
Renee F.'lelLlier - Iinti 119 Mc21 20?4
Alison Hall iiiilil 19 MaN 20?4
Ar<ibell41 I Ic)bson - from 19 Ma), ?024
FILILII KLIs¢')
C'<iilieriiie K(i/eliili - froiii 19 May ?0?4
June Wisziiiewski - from 7 Jline 20?4
Deanerv Svnod Representlltives
M<lrtin Br¢LknL11 Ir()Tll l () Mcl). 2024
Mary-M<2fb>ic rL't Ciiiiinc) - Lintil 19 Maj, 2024
RL'iiee F letclier - fri)11i 19 M<lJ ?024
Fa), Johnslone
I'lii)m.Is Kelsey
Dav id l)oi¥'ell
Commitlces
The PCC operates Ihroubpli a iiumber of coiiiiiiittees, Ivh ich nieet between tl)e fiill nieetinbFS ()r the PCC.
SlcinclinAI Ci)miiiilleL
Si
RICHMOND TEAM MINISTRY
ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE
Tlie pa) of noii-clei'o
staff is re i¢ii"¢d dniiLiallN' and iiormallN' incr¢as¢d in accordic lice ii.'ith aN'erane earninus
and beiichmarked ii'liere Possible to eqiiivalent roles in the local iiiarket.
Church Attendance and Electoral Roll
Avera(y¢ iN'eek. l)" att¢iidai)ie for OLir churches in ?0?4 Il'as:
St
Mary,
MJgFdaleiie
St Jolin
tlie DiN'iI)e
St Matthias
EleLtori11
Roll, (IS at 19
Maj. 2014
188
67
7)
Congireuation
(ai'eragje, inc.
cliildreii)
123
45
55
Resen'es Polic)
An amoiiiil of tliree moiiihs biiilL7el¢d eipenditLir¢. as prev ioiisl}' cibyreed b), Ihe PL (' cls adLqLiate I'eseTr es. IN'as
maiiitaii)ed.
Inve%lnicnt Policy
I'lie iiii iiliiiLiiI PC)liL} is nionitored by the Prc)perti & F incince Cornm illee li itli oi'ersigiht bl, PC C" lid is siibjt¢l
lo regyiilar r¢i'ieiN'. The cli[)1 pi)Iici' (iims to niiligyalL risk. througih ni¥l11)Iclinii)g? portfc)lici ot. iiii'estiiienl
pr()perties, col leclive tiiiids aiid Llc sh 011 deposit. l() diversiti, ri%k and oplim is¢ tlic avai lable retiim. The PCC,
Lc)iibiclL'rs Ili¢ PL'rliirt]l¢lllL¢ diiring the t'LIr ILI be CLLPILible 21)(1 iii clLLiirdc?IiLL itli the slatLd polic).. Th¢ PCC.
has iiiade siich iiivestnients to gyen¢r&lie a retiirn ¢ind lias inad¢ Iio sociul IneIll)entS.
Grants Policy
TIIL, P()1 ILJ, ori gyf<intS is set bN' tlie PL'L,, to dislribiite l O % ot" volii1)tlc ry, incoiiiL', for cli¢irilcible aLtivities. 'I'IIL
propo.sqc I for dislrihiitioii is pr¢p¢ired b). ilie AIN'ai' (iii'ilig g¥rc)Iip aiid siibiii ittL'd fi)r iippf()Vi11 to ihL PCC.
Risk nianagemL'nt
Ri%k 11i4lliiigiLII)L'iil is Li)-c)rdii)aled by the Risk Revieiv Gr()IlP. Lom pi'isingy a LO-cirdiiial()r aiid c)iie repr¢sei)tcllive
froiii cacli c)I"Ihe ilireL Ll)urLlies. -l-h¢ gTr()iip rep()rl% t(} tlic l)rc)pL'rt) aiid F iiianee Li)Inniillee. 'l-lie byrc)Iip sc¢ks to
identifj. risk's, aiid instigyale nianagFement arraiig?ein¢iils for Ihein, Liiider five categiories, ll
RICHMOND TEAM MINISTRY ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE Fundraising Polic). In l ine iwiih th¢ requirements included in the Charities Aci 7016 the Trustees are ple(Ised to confirni that all fundraising is carried out in LomplianLe ii'iih best practiLe. All tundraisino activilies folloiN' guidelines Ihere these hai'e been provided bN' the ChurLh of England. DuringJ ?024 M'e did not employ aiiy professional fundraisers. There 'ere no cornplaints or criticisms during the year about our fundraising activities. Public Benefjt When plaiiniii(i our activities for the year: the incumbent of each of our churches and the PCC have considered the Charitv Commission's guidanLe ()n public benefit. In particul2( r ive Ir! lo enable people to live out their faith as part ot our parish community through: Worship, praver, learning about the Gospel and developingJ their knoi¥,ledgye and trust in Our Lord Jesus Christ Provision ot" pa.8toral care t.or people living in th¢ parish. Missionary and oiilrcach iiork. Financial Rev'iew Durin¥ lh¢ l'ear i¥'e spent £473,304 Irc)m Desiuynciled fLinds and RL.qtricted Fiinds 011 miijor fcibriL repairs to l)Lir properties comprisiiigj £78,087 at Si Mary Ma¥dalene, £67,938 al St Johii the Divine and £327,279 at Si Maiiliias. WL fLcLivLd a distribution of £46i.100 from Richmond Cliurch Charilv Eslales (RCCE) in 2024, for i liich are most byratetul. £i37,087 of the RCCE reslricted flind li applied duriiigi IhL year toiiards the ¥vork of the Church. The un5penl ioial ot" this I'und ai tlie end of 2024 was £3i,127. An additional distribution ot" £iOO,000 i¥'as also proi'ided bv RCCE loiwards the Parish Roonis Project, ol. ii,hich £17.j.?.$8 has bLL'll 5pLI)I lo dale. Th< main bLli IdingTr '0rk shoiild be slaningy in Springy ?0? - Al 31 December ?094 our unrestricted gyeiieral reserves incrLased bv £i87,619 10 £1 .59 7.920. The value ol.our iiivestmeiil holdinbys inLrL&sed by £9.i.4? l jii 20?4. The cciniposilion ot. the investments ill be reviewed bj the Property & Finance Committee during¥ Ihe year, lo ensure thal it conlinues to appropriail.. ThL' cash b2liiiiLe held cil IhL L'nd of'?0?4 IW<lS £?.o?0.$6? an iiicrL'¢ise ol. £?89.875 over the year. The total fuiids InCre¢ed by £481.084 10 a total ol'£10,909,934 on 31 DLceinber ?094. Future Plans Richmoi)d Team Ministry. PCC sceks to COT)til)Lie io live aiid work oiil its Mission Statement, ensurinbl our cIILirch bLiildinbTS arL visible sigyns of the love of God and places of ivelcome for all. To achieve tliis tlie PCC aiins 10 continue to siipport Ilie ii'ork of Ihe Ricliinond Soup Kitclien and other chariti¢s iii Richmond and abro¢1d, caringy t.or those ii.'ho are not as comt-ort¥ible and ii.ell oft. <iS ourselves arrv out the ii'ork. 1111< l is nL'Lessdry as a ChLirLh of F.ni?land parish by otYLriiig) reg7ular sern'ices as ivell as the occasional offices Ibaplism, marriag7e and tuiierals). Auditors A proposal lo reappoint Xeinadin Audit Lim ited Kvill be made at the next counci I me¢ling. B) order of thc Council Margot Gallie PCC Secretary Richmond Team Ministry
RICHMOYD TEAM MINISTRY ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE Independent auditor's report to the members of the Parochial Church Council Of Richmond Team Ministry. Opinion We have aLidited the financial statements of Richmond Team Minislry Parochial Church CoLincil (the "PCC") for lh¢ Vear ended 31 December 2024 i1,hich comprise the Statement of financial Activities, Ihe Balance Slieet, the Statement of Cash Floii's and notes to the tinancial statements. including a summarv of 5igTnificant accounting pol icies. The finlL llci<11 reporlingJ frameiiork. 11)al been applied in their prcparation is applicable law and United Kingydom Accounling Siandards, including Financial Reporting, Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United King7dom Generally Accepted Accounting Praclice). In our opinion, the financial statements.. give a true and tair 'le of the stat¢ of the PCC'S afl<iirs as at 31 DLLeniber 20?4 and ot" its incoming resources and application ot resources for the year then ended- have been properly prepared in accordance ivilh United Kinbydom Generall! Accepied Accounling Praciice; hav¢ be¢n prepared in accordance iN'iih the requirenients of the Charities Aci 2011. Basis for opinion We conducted our alidit in acLordaiiL¢ with Iiiieriialional Standards on Audiiin(J {UK) (ISAS (UK}) and appli¢abl¢ la.. Oiir responsibilitie* uiider those standards are further desLribed in the Auditor s responsibilities for lh¢ audil of the finanLial staiLIMLiils SLCtion ot" our report. We ¢2re indepeiidenl ol. the PCC in accordance 'ith the ethical requireinenls ihat are relevant lo our audil of the fii)ancial statements in the UK, including the FRC'S Eihical Siandard. and ive have fuifillLd our ()ther eihical responsibililies in accordanLe iviih thLse requireinenls. We believe that the audit evidence ive have obtained is sutticient and appropriale to provide a basis tor our opinion. Conclusions relating ¢0 going concern In auditingy the finanLial statements, Ive have LollLlud¢d Ihai the PC'C members use of thL gFoinbv concern ba%is of accountingF in the preparation of the financial statements is appropriale. Based on the work ive have perlomied, we have not ideniitied any material iincertainlies relatinbv to L venls or conditions thal. individually or collectively, may cast sigyni licanl doubl on the PCC'S abilily to continue &s a going concern lor a period of al least 12 moniljs from ivhen the financial statements are authorised for issue. Our responsibil ilies and the responsibilities of the PCC members ivith respect to gyoingy ¢on¢ern are described iii the relevai)I s¢'clioiis ot- Ihis reporl. Othcr information The oilier inform1¢ lion Loniprises Ilie inforin<ltion incl uded in the annLl<il report. including IhL PCC mLnibers' report, (Ilher than the linancial statements 14 nd our auditor s report ihereon. The PCC members are responsible for Ihe other intormalion contained iihin the aniiLial report. ()Lir opinion on the tiRancial siatemenls does not cover the other inforrnalion and, except lo Ilie exienl Otherlse explicitly staled in our report, we do not express anv fomi of assurance conclusion thereon. Our responsibility, is to read the other infom)ation and, in doing so, consider ivliether ihe other infonnation is material ly incon5iStent ii'ith the financial slalements. or Olir kno¥N'ledgFe obii1ined in the course of the audit. or othernw ise appears to be material IN. misstaied. I f identifN' such material inconsislencies or pparenl material missiatemenls: ¥N'e are requirLd to determine il'hether t1i15 gTives rise lo a material misslatemeiit in ihe financial slalem¢nts ihemselN'es. It.: based on the ¥¥'ork have perforined. w'e conclude that there is a maiLrial misslatemcnl of- this other iiitormaiion, are required to repon that facl. We have nothing to report in this regard. 10
RICHMOND TEAM MINl&iTRY
(iT MARY MAC.DALENE, ST MATTHIAS AND ST.TOHN THE DIVINE
Independent auditor's report to the members of the Parolhial Church Council of Richmond
Team Ministry, (continued)
Matters on ivhieh iTr'e are required to repori b), exception
Iii the l iLyhi of tli¢ kii()IN ledge aiid uiider%lcTriid ii)g of (lie PL'C and its eiiviroiimeiit obtained in the course of the
audit, li'e have not ideiititied niaterial m isstatements in the PCC members report.
We hai'e nothin¥ to rep()rt in respeLt of tl)L foll()1 ing matters in relatioii to li hich the Charities (Accoiints and
R¢pon%) ReiTLilations ?008 reqiiires lis t(I rep()rt to N'ou i t", in oiir i)pinion-.
ad¢qiidl¢ anil prop¢r acLOUlItIl}IF recc)rds ha.¢ iiot b¢¢n k'ept, or reiiirns adequate t.or oiir aiidit hae nol
beeii receii'ed troni braiiclics iiot N, isited b). us- or
the tinancial slatements are nol in agireement iN'ith the accounting records and reliinis. or
certain disclosures of PCC members remuneration specified b). laii, are not made. or
'e have not received al I tlie int.omiatioii and explanations il'e reqiiire t.or our qc Lidil.
Responsibilities of the PCC members
L'.xplciiii¢d In()r¢ t.il I IN iii tli¢ PQ"L nienibers respoiisibil ities staleiii¢nt. Ilie PCC. IllLmbers are rLspc)nsible
for Ilie prLparalioi) uf iliL f iiiaiicicll stalLiiieiits ai)d for being) salis1 led ilial 1hL. g)IVL' a Iriie aiid fair 'leI.. and
f()r SULh internal L()iitri)I (15 tl)e)' determine is iiecessary, to eiiable the prepai'aliL)n of finaiicial statements that
are free frrom nialerial m issll< teinenl, ii.'liether diie to t"r£iud or error.
In preparingp thL liiianLial %t4tleiiiei)t%. the PCC members are rLspiinsiblL li)r assessinbi IhL PCL s ¢qbilitN' 10
contiliLlC as a g)oii)g) Loncern. d isclL)SilibY. <lS applicable, In<ollers rL'l
RICHMofyD TEAM MINISTRY
ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE
Independent auditor's report to the members of the Parochial Church Council of Richmond
Team Ministrn, (continued)
Auditor's responsibilities for the audil of the financial statements {conlinued)
We dLtLrmiiie(I that thL principal ri4k' s i¥ere relatecl t() In<lllclLJeiiient Iiia5 in I1CLC)IiiilingN estiiiiates. valliation of
freehL)Id prc)pertN', presenlalion ot separalelN' disclo.sed items and managFeiiieni oi.'erride of controls.
In response to the risks identified iN'e designed prc)cedLirLs Ii'hiLh inL ILided. bill ii'ere nol lim it¢d tl). cl)al ILllLVjIIC)
SlgFnifiLilnl acLoiintingy esliinales siicli a% i'a11I1É tioii of freeholcl pri)pert¥'. aLyreein(?
tii)an¢i<il statLmeiit
di%LIosures lo uiiderlN'iiigJ sUPPOrtinL dc)Liiii)entatioii. identitN'iiicy and iesliiig joiini
Pry41 rT Tr In. trj ery ir, Inoert- mrry rn Ir,rry rn Ir+ 40 ¢> I t¢ c ¢> ir,m 01r ¥0 rry (Y P4 4) r ery
RICHMOND TEAM MINISTRY ST MARY MAGDALENE, ST MATTHIAS AD ST JOHN THE DIVINE BALANCE SHEET AS AT 31 DECEMBER 2024 Note 2024 2023 FIXED ASSETS Tangible InveslTnenl propcrtiLS Listed invesimeiiis 1,3il.89i i,2)i,000 4.?64.j76 44i,i56 3.980,127 4 168 9)) 8,8i1,271 8,59? 438 CURRENT ASSETS Debiors Cash ai bank and in lii( nd 154,336 2 0?0 562 180..184 1730.687 2,174,898 1,911,071 LIABI LITI ES: Aii)ounis lalling due 'iihin (Jiie vear { 116 ?351 ( 74.679) NET CURRENT ASSETS 2 0.$8 663 183641? NET AS.SETS 10,909.934 10,478,8jO FUNDS Reslricled lunds 8(b) 965.017 4$9,?4? Endoi*menl funds 8(c) 15,$85 326,?75 UiirLslricled funds.. De5iglllJted tiinds General Linrestricled lunds 8{d) 8(e) 8.401,41? 15?7 920 8,703.032 940 301 9 9?9 332 9 643 333 10,909,934 10,4?8,850 Approved and aiiihorised for iss11¢ bj the ParoLlii<21 Chiirch Council oli bL'halt' b>,: 20?5 and sigyned on its MariFot Gallie PCC Secrelary, Rliih Martin (Reader & PCC Member)..... The notes on pages 16 10 ?5 fonn part of thesc financial statements. 14
RICHMOND TEAM MINISTRY ST MARI, MAGDALENE, &iT MATTHIAS AND.(iT JOHN THE DIVINE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash proi'ided b},/ (used in) operating activities (see beloii.) ?Oi.j?O 117,628 Cash nows (rom ini'esting actii ities Inieresl 12nd di¥'idends reLeik'ed Amounts invested lo purchase tangible fixed assets Amounts invested lo purchase tixed asset iiiveslniL'iits ProcLedb trom sale ot investment properties 224,486 {140.131) 18?,7)7 {4,281) (35,127) Casli proi'ided b!, investing actii'ities 14i.349 Nel cash iii no ?89.87) 260,977 Cash and Lash equivaleiils al l January. ?0?4 1730 687 1469710 Cash and cash equiv4il¢nts al 31, December 2024 2,0?O,i6? ,730,687 Casl) flows from operating a¢tiF ilies Nel income 481.084 704 ?8? Depreciation IIiiL'resi and divideiids receivable incliided in iiivesling) Jciii'ili¥S (Gailis) on iiive511)i¢nls (CJain)Iloss on disposal of fixed assets (Increase).:dL'crL'as¢ in dL'btors In¢rease/(D¢Lrease) in Lreditors 16.i86 16,553 ( ??4.486) ( 135,4?1) 333 ?6.048 18?,757) ( 433.501) { 5,485) Cash proTr'ided by/(uscd in) opcratiiiR #ctivitlC5 205,5?0 117,628
RICHMOND TEAM MINISTRY
ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE
NOTF,S TO THE ACCOIINTS
FOR THF. YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES
The prinL iP<11 aLLOLllItiii<i
p()IiLi¢s adopted, .jiicl¥Jemei)ts and kes. soiirces of e.%timatioii uncertaintN' iii the
preparation of thL tinancial statements are as t.oll0 s..
Basi5 of preparation
The tiiianLiI11 statemeiits liaN'e been prepared in accordaiiLe li ith the Chiirch AccoLintiiigF Reuiilation5 ?006 aiid iii
aLeordanLe li itli the Ch<irities Siaten)¢iit ot" ReLomineiided Pr<iLIiLL (Cl)<1rities SORP (FRS I O?)) aild Financial
Reporting Siandard 102 (FRS I O?). RiLI)moiid Teani M iii istry nieels tlie defiiiilicii) of a publ IL beiietil enlit). under
FRSIO2.
Tlie finc2llLial slatLnieiits hak'e been prep
RICHMOND TEAM MINISTRY
ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES (Lontinued)
Cliiirc'li cic'liv'ilies
The DioLLsaii qiiula or parish share is accoiinted for I1]en pavable. Governdnce Losts are those accriied in
connection NN'ith administratlOT) Ot" the chirit). aiid are 2c¢ounted for on (ln a¢cniic Ib basis. The), are included in
church actiN'ities.
Granl.I
Grdnls paj'able are paj ments ni<ide lo third Pdrties in the furtherwc Ice of tlie chble objeLts oftlie Lharity. In thL case of
an iinLonditicinal LFrai)l ofter this is aLcnied oncL the reLipient has been notified of'tl)e bynnt aiNard. The nolifiLc?lion gyives
the recipieiit a re<qsoiiable eX'claI10n ih<21 thLN.' iiill receive the one L)r n)iilti I'car bryant. Grant aii'<?rds tlial <lre %iibject to
Ilie recipient tiillilljii(7 p¢rforniÉlllL¢ Cc)iTrdiliDns ar¢ onlN' accrued ii'hen tlie reLipiei)11712S beeii notitied of-the gyrant and an),
r¢iii(iiiiingi iiiitullilled ci)iiditi01is attachiiiLJ to that wnt are oiitside the control ot"Ilie Lliarit)..
Proiiisions tor grniitS c2re made ii'hen the iiiteiition to make a gyrant licls been conimiiniLated to tlie reLipient. bill tliere is
IIIICLrtaintN' as to tlie tiiii iiiiy ()I' the gFraiit ()r tlie aii)i)iiiit P<1) 1bl¢. A pr().1101} f()r a niiilti )'ear nl is reLooini5Ld at its
preseTIt I'ciliie li herL settlcineiit is (liie 0.cr iiii)re Ili<lli onL !'e?r Ironi tli< di1te of. tlie 1¢ Il'i¢ rd. tliere are n() IiiilLilfillL'(I
pertC)rn14lllLL' LC)ndiliL)l)s iii)dLr thL L()iitrL)l ol" tIIL Llicll-iIN' II)1c t ivoiild pennil tl)L Lli'irit!. 10 1( VC)id m(Ikii)ii Ilie liiliire
PclN'iiienlls). 5etilLIiiLlIt is pr()h&qhle, aiid il)e efTcLls ofdisL()Iiiitingi is 11l<2tLric21. Tlie disL(Iiiiil r<Qte 11sL.d 1% Ilie rcilL ()tlired
oli g?oN'erniiient bonds for Ic sini i lar liine peric)d 017ered iii the J'ear in ivliiLli Ihe gyrailt <2I¥.'ard is lii¢qde.
Tangiblc fixed a$sets
Ciiii.i'eLriilecl liin(l (iii¢l biiilcliiiAI.I' iiiicl mc)IFcibléi L'liiirc'li]uriii.%liinAII'
C'()Il%LcratL'd cir beiiLtIL<'d pr()PL'rl) is eKL liiclL(f Irom tIiL' aLLOLlllts b> SLLlion l O(-)(<l) ol" tlie C1741riliL% Ail ?0 I I
N() K'ciliie is plaLLd 011 niovLlc ble Lhiircli tiiriiisliiiibjs held bj tlie cliiircliii'l¢ rdeiis 0111( %peLial trLlSt t.or ihe PC'C. and
iiliiLlI rL'qLiire <1 tciciIII}' tor dispobLI1511lCL Ilie PCC L(iii%iders Iliits tc) bc ili<21iLiiablL' prc)p¢rl)'. All L.KPLiiditiir
iiILiirred diirinbi the J'ecir c)n c()11sL'Lfc?ted ()r bei)¢fi¢e biiilclii)sys, i¥ lieiliei. Inclil)lenaii¢e or improl'n7enl, is iwrillLII
of7" 615 ¢xpLiiditiir¢ in tliL S()FA aiid S¢Pclfcqtcl)' disLlos¢d.
Fr¢¢liiild pri)pcrtJ for LliaritN IISL IS illLliidLd clt ciist. FrLLlI()Id laiid is iiol dL pfLLi&QtLd. I"IIL PCC d?diipl% a poliL}'
of. iii?c iiilcoininb? all IreLlii)Id biiildinb?s tcl hibFli stiliidii rd iiliiLli prol()n&i5 their usefiil lii'Ls aiid eiihanLes tl)eir
rLsidual N'aliies ai)d acLordingJ IN. tlie l)CC LonsidLrs aiii depreciatioii arising) or aLLuin ulat¢d dL'prLciatioi) to dale
lo be insig)nitlCiinl (Iiid ininialerial.
F i.xtLirL's ai)d L'qiiipiiiei)t L()Stiiii? iiic)rL Ih<in £750 are capit.Il is¢d aiid d¢prLL i4iled 0.r tlIL'ii' iise lijl li fe ¥vhiLh varies
troni 4 N'ears lo 40 ycars depeiiding7 on thL assel.
Investment properties an(1 invL)Stments
AI I iiiv¢stinentS c1re iiicliided il111)ark"et N'lc lue at Il)e )'e<ir eiid. -rhe Siatemeiit ot Fiiiancial Activilies iiil ILides the
nLi g2< iiis aiid losses oli revaliiations c1nd disP05als ihroiighoiil the )'e11 r and are shoii'n as a coniponenl of net
incoiiie.
Investineiit properties are included at a protessional valiiation as at ihe Near end
RICH10ND TFAIWI MINISTRY ST IMARY IMAGDALEINE, ST MATTHIAS AND ST JOHN THF. DIVINE NOTES TO TFIE ACCOIINTS FOR THE YEAR ENDED 31 DECEMBER2024 ACCOUNTING POLICIES (continiied) Financial instrumenls The charin onli lias tinancial assets aiid liabilities of a k-ii)d that qualifi, as basic fiiiancial instrLiinents. Basic financial instruments are initiall), recoipnised at transaLtion 'a]ue and siibseqiientlN' nieasLired at their seltlcnient valiie. INCOME Unreslrieted Funds CDenerAI DesignAted 2024 Reslricled 2024 Ti)tal 2024 Total 2023 2024 Donalion5 and legacies Grants Doii<llions. applals LIC. l.LgaLies 965 100 16,446 965.100 16.446 4jl).100 ?1,097 7).338 98? i46 98? $46 .55.S.53.5 Other trading #ctil ilies Fees Cl)IirLI) H(111 leltinbys and renl<21s'. P(Irisl) Roijiiis Si John's Hcill Si Matil)ias LeitingFS M<lLTaziiie and book 5<11¢5 FiiiidraisiiigF eveiils and aciivilies 17,092 17,092 16,897 34,962 14,?19 34.96? 14.219 79 ?9,.516 8,?84 4?] 79 Investment in¢omi' DividLI)ds <lnd inl¢rL'sI Propert). income 215,388 9,098 224.486 101311 18?,7.57 21$388 3?5 797 277 409 Church activities SILH'ard%h ip plaiinLd giving.. BankLrs Orders Envelopes InLonie lax recoverable Collections and sundrn. donations 138,536 2,3.fj7 30,529 li8.536 ?,357 i2,079 133.759 2,3.$0 36,139 1,550 197 164 198714 190 828 Other sources LPWS Government grant Other income 53.613 16.539 70.1)? TOTAL IIYCOME 204,10 1009,733 1 4_3.5_61 1.089,9 Ib l8
RICHMOND TF.AM MINISTRY (iT MARY MACDALENE, ST MATTHIAS AND ST JOHN THE DIVINE NOTES TO THE ACCOIINTS FOR THE YF.AR F.NDED 311)F.CEMBF.R 2024 EXPENDITURE Unrestricted Funds Cieneral Designyted 2024 Restricted 2024 T()tal 2024 2024 2023 FuJTrdraising cos¢s Chiirch I lall runnino expenses P<1rish Rooms Si John's 14all St Maiiliias LettiniTrS Cost of flindraisingy eveiils and activities 891 9,467 7.4S9 12,i12 15,097 12,)]? 15,097 27.609 Ini'eslmeiil m#na2ement costs InvL's1113L'nl propi'rl), I'uiiniiiij Lxpenses.. Sandover House ChurLh C ollaije 10,138 10,138 10.353 3,136 3.136 336 Inveslmei)I propL'rt), fabric repairs.. Sandover House C hurch CoitagJe St John's LodLFe 13.?05 13,205 2.822 1.050 Chil rch aetivities DioLe5ai) P¢irisli slii)re Clerg). expei)ses ClergFv hoiising YouiiL People5 Mill is1ry' l.eader Churcli runiiii)g? expeiises Church org?anisls Chlirch iiiainlLiiance DLprLcialion Adiii ini5traior's salary Governaiice Lost5.' Audit Aciountancy Protitlloss on dispos<il ot tixed assets Church major tabric repairs.. Si John the Divine Si MaiTr' MaLdc11ene 51 M<iiiliias M ission(Irv and Charitable Giving - Church Overseas: Mi55ionary So¢ieiies klome Missions Seciiliir Charities 136,UOO 11,08? ?04,000 340,000 44.467 8,331 30,.50? 176,183 31.421 ?6,133 16,386 39,918 9,280 27,638 333 330,000 20.810 12.194 9,547 189,337 8,331 20,356 104,087 31,421 26.133 19,675 16.386 9,$02 4,640 13,819 333 30,416 4,640 13.819 37.315 8,880 24.960 67,938 67,938 78,087 i27,279 19,796 ?0,037 28,492 78.087 327,279 9.OiO 6.1?. 3.8?.) 9,330 10,738 4.010 914 7,039 3.82.5 186438 491637 565 735 1 ?43 810 786 757 TOTAL EXPENDITURE 43 54 19
RICHMOND TEANI NIINISTRI" ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE NOTES TO TIIE ACCOUNTS FOR THF YEAR EfiDED 31 DECEMBER 2024 STAFF COSTS 2024 2023 Gro55 ivages Social security LOSIS Emplo)'er s coniribuiions lo defiiled contribution pension scheines 1 ?4, j34 4,96) 2.494 1179?2 3.656 118,76_1 DLiring the >'ear none lif the 71 ?0?3.. 6) ¢niplo)'ees ¥i'ere Pciid iiiore tlian £60.000 per anniim i ?0?3: none). TANGIBLE FIXED ASSF.TS M(Jveable church ruTni%hings Office Equipment Freehold properti. Toi#l Coslldeemed cosl Ai l JanLiat)' ?0?4 Ad(liiions Disp()5<i1 Tr¢1nsfer trom invesin)¢nl properties Al 31 December 2024 380,000 140,131 151 ?58 4,?81 5)S,)39 140.131 iOO} I 785 127 130.5 ?58 785 1?7 3781 1460?97 151 ?.$8 Depreci#lion Ai l Jai)Iiar¥' ?0?4 Charge lor the yLar Relec15ed ()n di%po4¢ils Ai 31, DILembir?0?4 90,756 15,1?6 1.4?7 16.386 105 88? 108 40? Net book I'alue Ai 31 December 2024 1,305,?58 -] ?61 135189.S Ai 31 It December ?11?3 380,000 00,50? 2,854 443,3$6 INVESTMENT PROPERTIES Valuation 2024 2023 Ai l Jclnu<1ry 2024 Additions Transler to fixed as5et5 Disposci15 Revalu<ilion Ai 31 sl Decen)ber 20?4 3,980.127 3.870.000 ( 785,127) 3,?35 O_00 3,980,1 ?7 In Janiiary, ?0?4 tlie Parish Rooms cei1sed lo meet the defiiiition of iiiN'¢stinent property ii'lien planniiig periiiis%ii)n for Llil< ritw use iN"as obt¢iin¢d. It li as therefore transferred to tanLyible fi.xed assets <11 its fair iialiie at tliai dale, hi¢li beLoiiies ils deemed cost. 20
RICHMOND TEAM MINISTRY ST MARY MAGDALENE., ST MATTHIAS AND ST JOHN THE DIVINE INOTFS TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTMENT PROPERTIES (continued) The ini-estment properties eomprise tlie folloiviiig properties aiid the respective Vic lues are Sho1.n beloii.. 2024 2023 Parish Rooms Sandover House Church Cottage Si John's LodLFe 78.i.127 1.9iO.000 8?i.000 470 000 3,980,127 1,97i.000 83i.000 4?i.000 3,235,000 The iniiestmenl propertie% Lire presented al tlieir fair i'¢11ue and ii'ere tlie siibject of deskt()P VIL liiati()ii as <71 31 sl D¢c¢ii)ber ?0?4. TI1¢ Ill(%111]e1]t properliLS are Iicld prim<iril¥ to prL)N'idL ini'cstniL lit rellifii 1( lid ii(Il tiir projeLt- rLlaled piirpc)ses. l-lie Vi11Lialioii S 111Ilde bj. Ilie PropLrtI' aTid F illcinLe C'oiiiin iltee. b&1sed oli Ilie Land Reg7isiry' index fc)r Riclimoiid 051 Tliaiiies. for 20?4. LI.STED INVF.STMF,NTS Movement5 in year: 2024 2023 Milrkel V¢iliic al l Jai)Iiary PurLliilSL u1- invLslniL'ni UnrL'alibL'd Ll<iin51(1()sses) in IhL' year 4,168.gi5 3,811),454 358.SUI M<irkel vali1¢ al 31. D¢Leniber 4,?64,J76 4,168,955 Tlie tunds are inve.%ted it) Iiiiil Iriisls mana¥Ted b) tlie cBr c'hiirLh of Engilaild Ii)vestnient Fuiid c1tid are staled at bid valiie. FUNDS (a) ANALYSIS OF NET ASSETS BY FUND At 31 DeLLlI)b¢r 2024 Unre%tricled Funils Rcslrictcd Fun(Is F.Jidiiwlli¢nt Funds Ti)trfil Fuiids Fi.ied Assets Ciirrenl Assel5: Debtor5 Cash at bank Current Liabilities 8.63i,778 ?01.908 8,851,271 154.336 1 ?57,453 1 11623.)) 154,336 ?,O?O,i62 ( 116 ?3.5) 763.109 9,9?£3L? .10,909,93_4 At 31, December 2023 Unrestricted Restricted Funds Funds Endowment Funds Total Funds Fixed Assets Current Assets.. Debtors C1< sh al bank Current Liabilities 8,266,163 3?6.275 8,59?,438 180,384 1 ?71,445 74 659} 180.384 1,730,687 74 6)9) 459.?4? 42 21
RICHMOND TEAM NIINISTRY ST MARY MAGDALENE, ST MATTHIAS AND ST JOHN THE DIVINE NOTF.S TO THF, ACCOIINTS FOR THE YEAR ENDED 31 DECEMBER 2024 FUNDS (continued) (b) RESTRICTED FUNDS Balance at 1.1.2024 Transfer5 Expenditure between funds Balance at 31.12.2024 Income RiLhinond Churcli Charil>' EsiaiLS RCCE foi. Parish Rooms Project Si Mary. Ma,,dalene OruLin Fiind DaliiL2rn(Tr_Robinson (LiL'nifcql I Dal¥iarno-Robinson (Bo)'s Weltare) Le¥)ctcies and M¢niorials 481,639 500.000 -537,087 35.127 (17i.2i8) 3j,l?7 324.74? 4.906 {7.8611 209.769 i.718 1.425 10,150 6.0) I ?09.769 308.948 i.979 31i.574 .979 i36 Other sniall doiiiilions and appe¢lls 4jg,?4? 1,009,733
65,73) 61.777 965,01.7 Balance at .1.2023 Transfer Expenditure bef'¢ell fuiids Balance 41 31.12.20?3 Income RiLliniond CliurLlI Cli<irili, E%lcltLS .dalLlIL ()rgJilll Fund Si Mary. M(I,' D£)ILyarno-R(Ibin%i)n (Geiieral) D£ilLyarno-Robi1i50n (Bo)'5' Weltare) LLLK)Lies aiid MLinorials Si fvlaiiliills ()rbiaii OtliL'r sniall doncltions and appeals 134,5?0 459,100 103,045 (3S.1?7) 5S.448 7,567 4,906 3,629 7.023 7),8.$9 ?,591) ?4?.977 5.26? 31 j,)74 5.97() 4.57,501 .i69,797 53? 9?9 (35,127) 4.$9,?42 {e) ENDOWMF.NT FUNDS Balance at .1.2024 Gain(loss) on Transfers ini'estillents between funds Balance al 31.12.2024 Incon)e Expend
's' Welfare} Leg?Ic Li¢5 and Meniorials St Maiihid% Oroan 96,852 187,440 13,926 9.112 17,635 1,310 10),964 205,075 29_8,21_8 326 275
RICHMOND TEAM MINISTRY ST MARY MAGDALENL, s'r MATTHIAS AND ST JOHN THE DIVINE riOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 FUNDS (LolliiDiied) (d) DESIGNATED FUNDS Ilal&ince at .1.20?4 Revaluations aiid Gains Balance at 31.12.2024 Income Eipenditure Transfers Fixed assei tund Fabric fund 7,947,006 7.i6.0?6 40.000 7.987.006 414.406 204.1 Oi 54i.725 8,70i,03? ?04,105 545,72) -40,000 8,401,41? Balance at .2023 Balance at 31.12.2023 Iiievme Expenditure Revaluations Transfers Fixed cqssei tiind Fabric liind 7,879,006 747.?j4 7).000 7,947.006 7)6.0?6 143.478 134 706 8.619,260 143,478 134,706 7.S,000 8,70i,O)_ (e) UNRF..STRICTF.D FUNDS BAlance At 1.1.2024 G#in/(loss) on Tr#n%fers ini'estnients belween funds Bulance al 31.12.21124 Income Expenditure General fund 94Q,301 4?9,72_3 .186,438 256,381 1,527,9?0 Balance at 1.2023 liicoine Gain on TrunsfLr ini'eslmenls between fuiids Balance at 31.12.2023 F.xpeiid1tre Cjeneral fund 349,589 376,641 151,590 3.30,444 35,127 9_40,3_0_1 The piirposes of ilie D¢siginated Fiiiids are as follows.. Fixed A.s.set Fund This represents tlie n0n-end0i.Ment properties, listed iTivestnieiiis and tcingFible tixed £1S5ets. Fabric Fund Tliis reprLSLllts a fund t.or fabric repairs to the churLhes and iiivestmenl properties. The piirposes ot" the Restricted and Endoivment Fiinds are as t-olloi¥s'. Richmon(I Chiirih Charitv Estates IIiL()ii)e cli%tribLilii)ii% reLeived Iroiii Richiiiond Chiirch Cliaritj. Estales (RCCE) niiist be 41pplied for religNious piirposcs coniiected '1th Si Mary. Magldaleiie inLludiiig ihe w ork of ilie church. as iwel l as repairs lo, improveinents of, or additions to the chiirch and its precincts and the mainteiiance of the services Iherein. RCCE distributed an additional £500,000 to RTM in 2024, once planning perniission had been received. toivards Ihc cost of ihc t"orthcoming) Po( rish Rooms Project, The transfers in both ?023 and ?024 represent capital SLIMS speiit on Ilie P<lrish R()Iim% redew'eli)pmenl. RCC E rL'qiiested that the ?02) capital siiiiis %hould be recogynised iii tli¢ Parish Rooiiis project f-uiid aiid so the 2023 capital spend, of £)i,127 Iwas transferred back. to the RCCE É'LlI)d. 23
RICHMOND TEAM MINISTRY ST IWIARY MAGDALENE, ST MATTHIAS AND ST JOHN THF DIVINE NOTES TO THE ACCOUNTS FOR THE I'EAR ENDED 31 DECEMBER 2024 FUNDS (continLied) Organ Fund Tlie Org7an Fund represeiits iiiLom¢ geiieraied from fiindraising eN'eiit5 Il'liich is retaiiied for t"utLire expendiiLire on the orgFan at St Mary Magdalene. Dalgarno-Robinson Cjeneral Fund A t.und set up under tlie temis of the Will of HenrN' Dal()arno-Robinson. of iwhich botli the inLome ai)d the fund ilsel f are lo be applied for the charitable piirposes of the Parisli of Richmoiid for ilie adN'anceinenl of relicj ion. R¢Lent re4eiirLli has idLiili l led thcil IhLsL liinds clre not restriLtLd or eiidoii'i)ienl tunds. Thc traiiqters in 10?4 correci ilieir Ii'ealnieiit to sho¥1 Ih¢iii as gJLiieral tuiids. Dalgarno-Robinson Bovs, Welfare Fund A fiiiid s¢t lip iiiid¢r Ilie lernis ill. Il)¢ Will of H¢nrN Dc)Igicimo-Rubiiison. ol" Iwl)iLI) bcith tlie incciiiie ai)d the tlind itbL I l-arL lo bL' t() be appl led tor Il)e hL'iiLfil cit. ho.% l'L,1 t'<ll'L' in tlie P£1fi%h ol" Ricliin(Iiid. Re¢LiII rL'se1L fLII lic15 idLI)titied 111111 tIiLsL' fiiiids are iic)t end()inient f'unds. 'fiie IransÉer in ?0?4 LorreLts their Ireoc tnieiit dnd shoiN s tliem as restricted t"Iiiids. Lcgacie5 an(1 Memorials TlirL'L fiiiid% sel up in aLLordcliiie itli deLeased pers()n% ii'ill%. the inLc)In¢ c)f' li liilh t() be ic ppliLd lor religyious PLifpclSes ()I' IliL Parish ot" RiLhniond. Tlie fiinds are the Calderivood Meinorial, tlie Cooiiibe Meiiiorial and St Mdlllii125 Legjacies. St Matthias Organ Fun(1 A t.und sel lip uiidL'r tlie lemis of. thL il l of a delecised pers()n. iLh ilas sold and USL'd to purLhase a neil, ()rgJilli at Si M<lltliiciS. 'I'lIL. b<il<lllLe c)r thL Sale prc)LLeds ivas taken to Ilie restriLted tiiiid 'hre il w i I I be LiSed for I'liliire expeiiditLire oli the orbpaii. Other Small Donatiihns and Appeals "rii is repre%L'llts rLslriLIL'd di)liilti()IiS lii<?de IL)r spLcitlL piirposes. logFeihL'r ivitli dc)11lc ticins made in respoiise to ali appeal, DEBTORS 2024 2023 Tax recoverable Oiher 5.548 148 788 7.437 17*947 1_5403_6 I SQ,i84 10. CREDITORS 2024 2023 Investment property deposits Accruals and deterred income Other 4,655 4,655 46.982 11_&,23_i 24
RICHMOND TEAM M1,1STRy ST MARN" MAGDALENF., £iT MATTHIAS AND ST JOHN THE DIVINE NOTES TO THF. ACC.OIINTS FOR THE YEAR ENI)ED 31 DECE.MBER 2Q24 RELATED PARTY TRANSACTIONS Duriiio the vear £965.100 (?02J'. £4i9,100) li as rLCe1ed as a clistribiiti()n froni R ichinond ChLifLI) C h<2riti Eslaies. tli'ci of ii'hL)se Iriibtees are als1) PC'C nieiiibLrs. Diiringj the )'ear RCCF. pr()K'ided aceoiiimc)dic tion to RTM i allied at £30.000 (20?3.. L I 0,000). free of ch<lfL)e. At il)e N'ear tnd, £nil oN%ed b). Riclimond ChiirLI) C'harit} Eslates (20?3.. £nil). Diiriiig the veclr. gyr<lllts ot" £375 and £175 iierL Inade lo Rdiiiboii Fiind t-or SoLltlI AfriLa and Richinond Street Pastors r¢speLtivelv. PCC members Martin Brecknell and Riith Martin are Loinmi)11 trust¢es. The l)L'C are considered i() be k'¢). maii¢l(IL'mLiit personiiel of the cliarity. alonii ii'ith the clerLJI'. and as siich are considL'I-ed to be relatLd parties. -l-IIL' PCC, nieiiibers are iiot remiiiiercile(l. Lxcept f()r R¢i'd Joe Moc)re .hose stipei)d of £40.805 for sernices this Near {?0?3: £17.8?6). 11.IS P<iid bl. tlie PCC. Revd Aline Crai¥ r()rcl ¢2iid Red C'h<lrli)Ile M iddl¢l()n li ere proN'ided ill) li()Iising7 bj. Ilie PCC. A t()tal c)fr' £_3.7.3 i (?0?3'. £3.-144) lic25 rLiii)biirs¢d i() I i?0?3: 7} PC'C Ineiiibcrs for trc1Nel <11id c)tlier expeiiditiirL il)ciii-red I17{1[11.. eKclii%i¥'eli' aiid i)eLes%ari ly. in tli¢ Loufs¢ ol"LliurLli operalic)iis. £nil (?0? • £iii l) paid to tliird Pic rties oli beliill t" of. 1¢ 11) PL'C, iiieiiiber%. 12. OPF.RATING LEASF. COMMITMENTS The toltil fiitiire ni i51imiim lease paj iyients uiider iion-LaiiLellable operalingi le1( ses are as foll()IVS: 2024 2023 Within orie 'ear AIILr on¢ yLiir, biit iviiliiii five )'ears 1.958 1,9$8 3,644 S,60? lThe OPLfiiling, leasL cliiingTres for the yl'ar were.. Hire ol- Plciiil and MclLI)inLry' 979 STATF.MENT OF C.OUNCIL MF,MBF.RS' RESPC)NSIIIILITIES "rhe Coiiiici I mLnibers il re respiinsihle tor prcparii)gy ihe anniial rep(Irl cind ihc, liii1111Lll11 stateiiienls iii a¢Lord1¢ nce Il'ith applicable laN%' arid Uniled Kiiig,d()m Accoiiiitiiig Siaiidards (Lliiited K ingidoni Geii¢r<qllN ALLepted Accoiintingv Practice). Ch<1ritN'11c ii. reqiiires tliilt the CounL i I niLiiibers ii)iist not apprc)ve finaiiLi111 %tateiiienls iiii less tli¢) are S<21isfitd that the!. gii.'e a triie ¢iiid tair N'ieiv of tlie sti11e ot" Élttc1irs of. Ihe Lliarit}' cind ot. tli¢ illCOTn incl r¢soiirLes and <ippI iLati()11 ot. rLsourLes of the cl)arit). for the N'e42r. Iii prepciring those fiiiaiicial slalLmeii15 Ihe C()IiiiLi I meinb¢rs are reqiiii'ed to.. select siiitable accountiiig policies and then appl), them consistently: observe the methods and prinLiples in the Charities SORP: m<?ke j iiilbFemeiitS iiiid dcLounlin(y estimates that are reasonable and priideiil: prepare Ilie financ i<il stal¢meiils c)n tlie bloingy L()ncerii basis iinless il is iiiappropriate to presiime thal the MiA)istry' Iwill conlinue in operation. The Council members are responsible for kceping accounting records that are sU1c]ent to sliow and explain the Ministrn. s transaclions and disclose iwith reic %Oll<ible acciirac). at ani. tinie the financial position of the Coiincil and enable tli¢ni lo ensure tlial tlie finaiiLial stateiiients LomplN' w.iih the ChurLI) Accoliiilincy Re(yiilal ions ?006 and Ihe ChariliLs Act ?0 I l and the reuiilatioiis made thereiinder. TheN' are also responsible for Sc?feLiiiardin<J the assets of the CoLlllC il and hLnce for takingT redsonabl¢ step5 for the prei'entioii and detection (if traud aiid oilier irregyularities. 25