Charity registration number 1130075 PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 pfct parish of finchampstead & califomia
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA CONTENTS Page Trustees report Independent examinerfs report 11 Statement of financial activities 12 Balance sheet 13 Notes to the financial ststements 14-33
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report and financial statements for the year ended 31 Dember 2024. 2024 has been a second year of vacancy with the resulting pressures to sustain all the functions of a large and active Church of England parish. whilst dealing with preparations to advertise and appoint a new Rector. The churchwardens and remaining Ministry Team have carried a particulady heavy burden. Wars and political instability Gontinue to affect the economy and impact Ihe church and our community with financial, pastoral and social challenges. These will be documented further through this report. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the PCC'S goveming document, the Charities Act 2011 and "Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" Objectives and activities Finchampstead & Califomia PCC has the responsibility of promoting in the ecclesiastical parish the whole mission of the Church, pastoral. evangelistic. social and ecumenical, in cooperation with the incumbent. It also has responsibility for the Maintenan of St James, Church. the Churchyard. Manor House Flats, St James, Church Centre and associated grounds, St Mary & St John's Parish Centre, 43, Mccarthy Way and now also, since its eventual purchase on 21 June 2024, of St Eligius, Church. (In the early part of the year the responsibility was to keep the church in good order in line with the Tenancy at Will.) It approves the appointment of sidespeople and endorses recommendations (usually made by the Rector) for the appointment of Foundation Governors for Finchampstead Church of England (aided) Primary School. The PCC has, when planning activities, considered the Charity Commissioner's guidance on 'public benefit, and, in particular, the specific guidance on charities for the advancement of religion. A key feature of the charity registration was the benefits that the church provides to the members of the local and wider community. These include: A focus for the Christian spiritual life of the local community. The provision of religious services throughout the Christian calendar and on key occasions in the nation's life. {On 6 June 2024, the church hosted a community commemoration event including lighting of the beacon on St James, Church to mark D-Day80.) In addition. Baptisms, Marriage services, Funeral services and Burials, all services of the established Church of England. are open to everyone in the parish. A sacred place of tranquility, peace or solitude for spiritual refreshment or personal meditation. Pastoral care for those not able to attend church. An enhanced venue for the provision of music and ConrtS. both religious and secular. Complementary venues for Churth related dubs and activities as well as private functions. Support to the village school, and other non-denominational schools within the local area. A local 'Living Museum. preserving local history for local people and those beyond. Physical access for both the able and the disabled Support for other organisations involved in mission in the UK and overseas or involved in humanitsrian relief and development work, by giving 10 /0 of the PCC'S unrestricted income each year to such causes and encouraging the congregation to give to specific charities during the year.
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and perfonnance Electoral Roll The Church Electoral Roll, 396 as reported to the October 2023 PCC meeting, became 376 after the additions and deletions following revision for the 2024 APCM in May 2024 and 374 by the time of the report to the November 2024 PCC meeting. (A completely new Roll as required every 6 years is being prepared for APCM 2025.) The Electoral Roll OffIr works hard to keep the roll under regular review to ensure the delelion of members who have died or moved from the area as well as adding on new applicants. In the year lo APCM 2024, there were 10 additions and 35 deletions. The deletions were 4 deceased, 5 moved away and finally 26 out of parish members who had not returned to church post-pandemic. During 2024, the deletions have again included a number of long-standing members whose generous and committed contribution to the church will be missed. Church attendance In the Statistics for Mission Report at the end of 2024, we recorded 223 people attending worship at Easter 2024 {229 at Easter 2023) and 418 at services on Christmas Eve and Christmas Day 2024 (282 on Christmas Eve and Christmas Day 20231. As Wellington College Chapel was not available to us on Christmas Eve for Christingle, two services were held, one at St Eligius and one at St James.. Reaching out into our community remains a high priority. although this is challenging with limited ministry team numbers. The congregations of St Eligius and St Mary & St John's have continued to worship together at St Eligius and support each other well. Separate Sunday moming provision for children is only at St Eligius but family attendan at Café Church and Family Communion at St James, is encouraged. Termly services are held in St James, church for the church school pupils and staff as well as a carol service for them and one at St Eligius for Bohunt SeGondary School. We have continued to send in weekly video assemblies throughout 2024 to three of the four primary schools in the parish. supplemented by clergy and lay in person assemblies at the church school. Our Youth work is sadly temporarily on hold pending discussions with the new Rector on the appropriate appointment of a new Youth Worker, hopefully supported by another Di0san Development Grant. However, our pre-school provision of Fledgelings and Little Stars has thrived under the leadership of our paid children's worker, Monika McAllen. Following her resignation al the end of 2024. the PCC has been pleased and relieved to appoint a new Children's Worker to carry on this important work. Monika continues to lead Family services and events in a voluntary capacity, along with Louise Buckett and Claudio Zabbia, The eslimated Worshipping Community at the end of 2024 as recorded in the Statistics for Mission Report. was 320 (335 at the end of 223, 390 at the end of 2022. 581 at the end of 2021), made up as follows.. O- 17yrs 55 (66 in 2023, 100 in 2022, 153 in 2021) 18-69yrs 150 (161 in 2023. 173 in 2022, 290 in 2021) 70+ 115 (108 in 2023, 117 in2022, 138 in 2021) It was assessed that 30 people joined the community in the year. The number of occasional offices conducted by the church during 2024 was as follows.. 13 baptisms {19 in 2023, 21 in 2022, 11 in 2021), 4 weddings {5 in 2023, 9 in 2022, 3 in 2021) and 19 funerals in church or the crematorium {12 in 2023, 18 in 2022. 18 in 2021) and 18 committal only or burial of ashes only {23 in 20231.
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Review of the PCC activities for the year to 31 December 2024 During the year, the PCC met 5 times and the Standing Committee met 5 times, all with a high level of attendance. The PCC meeting on 16 January 2024 agreed yet another deficit budget (of £26.576} mirroring the situation described by Bishop Steven across the Diocese of signs of recovery following Covid but with an underlying reduction in total voluntary giving. The PCC noted the persistent work that Bob Parfe was doing to ty to achieve completion of the purchase of St Eligius Church after so many years and, to avoid any query. formally appointed him and Paul Marsden as negotiators with Crest Nicholson on behalf of the PCC, the final contract to have legal scrutiny by the Diocesan solicitor and agreement by the PCC. The PCC was advised that, following the Section 12 meeting in November 2023 on the process to appoint a new Rector, the Archdeacon was looking for further amendments to the Parish Profile and suggesting that the Diocese should purchase a new Rectory in a more central location. These matters were in hand but needed resolution befo any advertising could begin. On 26 February 2024, the Standing Committee heard thal the Archdeacon had signed off Ihe Parish Profile and the Diocesan Buildings Team were looking at properties suitable for a new Rectory. A schedule for advertising the Rector post with interviews in Aprillmay was therefore planned. In response to questions from the Diocese on demonstrating Mission at St Eligius, Standing Committee set up a small working group to look at options for adapting the church building to be more mission-minded. Normal business items included preparations for the APCM, decisions on the maintenance of our buildings (including use of the £12K grant from Finchampstead Parish Council towards the kitchen and disabled toilet refurbishment at St James, Church Centre), appointing a sidesperson, reviewing the parish Health & Safety policy and reIving reports on the progress of negotiations to purchase St Eligius as well as on meetings with the developers of the Gorse Ride Regeneration Project. The Pre-APCM meeting on 22 April 2024 agreed the Fabric, Goods and Omaments Report from the churchwardens as is required prior to presentation to the APCM. The final draft of the examined Accounts & Financial Statements was not available and arrangements were made to agree them by e-vote in the following days, as legally required. (subsequently agreed). Arrangements for the APCM on 20 May were confimied. In addition, in view of the Diocesan Synod vote to 'increase engagement with children, young people, families and schools, IMO time-sensitive issues were added to the agenda - namely, to appoint PCC reps to attend Bishop Olivia's Deanery Day on 11 May at Greyfriars and secondly, to discuss and respond to the 5 questions in the Sonning Deanery Synod Questionnaire. Following discussion. the secretary was asked to submit a response on our work with children and young people. On 10 June 2024, the PCC at its first Meeting of the new PCC year elected the PCC Vice-chair, Secretary & Treasurer. additional members of the Standing Committee, as well as people to other specific roles and responsibilities. It accepted the Annual Insurance Report and agreed a resolution to proceed with the purchase of St Eligius Church and to draw down the required fijnds from investments. A Finance Report showed expenditure over budget as a result of additional maintenance and increased utilities but forecast an additional £10K in the year as a result of the Lenten appeal to the congregations to review giving. The 2nd round of advertising for a Rector was nearing completion with a planned interview date in July. The Standing Committee on 15 July 2024 celebrated the purchase of St Eligius Church on 21 June 2024 and made decisions for insurance and maintenance as the new owner. Plans to upgrade St Mary & St John's Parish Centre with new flooring and chairs were agreed with a grant application to be made to Finchampstead Parish Council. A one-off appeal towards repairs to St James. Church roof was to be made at the Patronal Festival at the end of the month. In view of the failure to appoint a new Rector, practical arrangements for extra clergy cover and volunteer help were discussed. The Parish profile was to be completely revamped by early September in the style of some successful local examples in readiness for further advertising. Meanwhile, Rowena Green was appointed to fill a PCC vacanGy to APCM 2027 and Standing Committee was pleased to hear that Caroline Anamoah would take up her role as Parish Safeguarding Officer from September. A Standing Committee on 16 September 2024 set the agenda for the next PCC including agreement of a revised Health & Safety Policy. It heard reports on the successful Working Paty day at St Eligius, that the improvements to St Mary & St John's Parish Centre flooring and chairs had been completed as well as maintenance issues at St James. campus. Grounds maintenance now covered all three sites and a tree survey at St Eligius was being arranged. Further adverlising for a new Rector was planned in the coming weeks using a greatly updated Parish Profile and advert with an inteNiew date planned for November. Meanwhile Rev Julian was seeking clergy help to cover service rotas up to April 2025.
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 On 30 September the PCC met Caroline Anamoah, our new Parish Safeguarding Officer, and an updated Safeguarding Policy was agreed. Fabric & Propety Committee reported an impressive list of maintenance tasks achieved in the year and an updated Health & Safety Policy was agreed. The March appeal to review giving had resulted in 50 responses with an annual uplift of £22K and Archdeacon Stephen, on his pastoral visit to the parish, had been impressed by the momentum in the parish despite the long vacancy. However the heavy workload on the churchwardens and Rev Julian was acknowledged with grateful thanks to the Glergy who were giving their support with services. Sam Khan was reappointed as a Foundation Govemor of Finchampstead Church of England Primary School for a further 4 year temi. Advertising was once more undeNay to find a new Rector with an interview date planned for November. The Standing Committee meeting on 21 October 2024 heard that the financial position was still in deficit but better than anticipated thanks to responses to the appeals and careful use of restricted funds. An option on the Church Worker Pension Fund was agreed to shorten the period of employment from 2 years to 30 days for an employee to be entitled to a preserved pension. Maintenance and repair work was planned for St Eligius and the St James, churchyard wall. The churchwardens at St James. were liaising with neighbours to oppose an application to upgrade the official status of a footpath owned by the church to a bridleway. Gaps in our committee work were to be discussed at the next PCC as well as further responses to the Deanery on our work with children, young people and families. The PCC on 25 November 2024 was delighted to hear of the Sussful appointment of Rev Gemma Donnell as our new Rector. Planning for Budget 2025 would include costs of her installation around March. Meanwhile, the PCC agreed the 2024 distribution of Mission Giving as proposed by Ihe Charity and Mission Group based on percentages and list of charities already agreed by PCC. Application was to be made for a Deanery Green Grant for LED lighting at St Eligius and other 'green' work on the Mccarthy Way house. Rev Julian paid tribute to the huge amount of outreach and family work going on in the parish despite the Children & Youth and Outreach Committees not meeting. Further discussion planned for January 2025. The Stsnding Committee on 9 Dember 2024 heard that the Diocese was preparing the new Rectory for occupation by Rev Gemma from March. Church service rotas were in place to the end of April. The treasurer reported progress towards a budget 2025 and preparation of accounts for 2024. A new parish notice board has been installed at St Eligius and plans progressing to begin the complex repair of the churchyard wall. However, the Tudor wall around St James, car park requires attention and a treatment plan is needed for a section of roof timber in St James, Church affected by death watch beetle. The meeting appointed another Communion Administrator and agreed to close the historic restricted Fledgelings charity fund at the end of 2024 and set the amount against the parish Mission Giving to charities. Work to progress all these issues has continued in 2025.
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review As a parish. we are incredibly blessed to benefit from the legacy of past generations of worshippers, who have faithfully supported Ihe church through their regular giving and one-off gifts of money or property. We should also be thankful for their careful stewardship that means we have a cushion of financial resources available to us. Not all parishes are so fortunate. In thanks to God for the blessing of these past gifts. we aspire to be good stewards in our tum and to manage our finances in a sound and prudent way, both year by year and in our strategic planning. 2024 Results Overall, the results for 2024 show a shortfall of income over expenditure of £29,255 on our unrestricted funds, and an overall loss of £18.670 after taking account of unrealized gains on investments of £10,585. £14,022 of the loss relates to money already designated by the PCC to be used for specific expected purposes. Although the Parish continues to record an annual loss on unrestricled funds, there has been a noticeable improvement during the year in traditional sources of Parish income including regular and one off donations. Commentary should also include reference to the significant past maintenance costs for the Parish's rental properties. Encouragingly, the improving rental yield from these properties is beginning to be readily apparent as tenancies reach renewal, due to this overdue maintenance undertaken. Cost-saving initiatives include rep1arnent of historical lighting in St Eligius, with LED equivalents this will inevitably drive down those ongoing electricity Costs, and this rollout to other places of worship and related buildings will conclude in 2025. The St Mary and St John's Parish Centre was refurbished in anticipation of increased community and parish use during 2025. Electrical improvement work costing around £2000 was funded directly by the Parish. The cost of new flooring has been covered by a £10,000 local Grant. The grant funds were received in early 2025. Fundraising initiatives and seasonal Strawberry Sales continue to bolster the Parish's financial position. It is hoped that the Summer Fete this year will continue the encouraging trend that the PCC is seeing. Our commitment to support mission work in our locality, the country and abroad was once again discussed by the PCC and it was unanimously decided that it should remain constant despite the challenging circumstances. Over £20,000 was committed to our charitable giving causes proposed by the Charity & Mission Group. Regular reports were made to the PCC, its Standing Committee and Finance committee. The unrestricted reserves referred to below under 'reserves policy. were drawn upon and the PCC, Finance committee, Standing Committee and its officers kept the position under constant review. Expenditure continued to be dominated by Parish Share. This allocation was rebased for all Parishes at Deanery level. such that our Parish was able to benefit from around a £5,000 decrease in its allocation compared to prior year (2024 ca £157,000, 2023 ca £162,000). This revision is one significant driver behind the Parish Share allocation accounting for less than 50°/0 of overall total expenditure in 2024 (versus 2023. in excess of 500/.). Due to the successful purchase of St Eligius in June 2024, a lower unrealized gain was recorded as a result of the drawdown of designated funds from the Parish's Long-temi investments {£180,000 - see Disposals Note 18.) Please see Note 14. for this Year-on-year comparison. Regular reviews of our Long-temi Investments are carried out by the Finance and Stewardship committee and any perceived significant change or challenge will be actively addressed. Management of the gvft aid recording and claim systeTn was Caled out by the treasurer and gifl aid secretary. Gift aid and the related gift aid small donations scheme contributed very significantly to our income, and the high level of commitment by our regular donors is very much valued.
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial Governance The Finance and Stewardship Committee consisted of the Treasurer, Finance team (which includes those who manage income and expenditure, the financial accounting, and data production), Churchwardens and PCC members. This committee plans to meet regularly to agree and approve financial statements, manage issues and concerns, review prosseS and how to improve our efficiency. consider reports on the management of our propety assets and investment assets and provide reporting, support and guidance to the PCC as required. A review of stewardship of investments is regularly undertaken to ensure our funds continue to be invested wisely. The committee for convenience of members continues to meet on Zoom. Attendance at virtual finance committee meetings in 2024 was good. Reserves Policy The PCC has three categories of Funds.. Restricted Designated Unrestricted and undesignated It has established appropriate ReseNes policies for each category and. in the case of Designated ReseNes. for each separate type of reserve. The full statement of our reserving policy is available on request. The PCC is substantially dependent on voluntary income. While much of this income is received regularly through planned giving schemes, single or spontaneous donations and collections are not easily predictable. The PCC has major property assets, including the historic church of St James, Finchampstead and its associated Church Centre. In the past these buildings have required significant maintenance expenditure. This requirement will continue in the future and, while some expenditure can be planned for, other work will be unpredictable as regards both timing and amount. Having regard to these unpredictable elements of its activities, as well as the nature of its other resources and commitments. the PCC'S policy for unrestricted and undesignated Church and Parish Fund is to hold as reseNes between 3 and 6 months of anticipated expenditure. At 31st December 2024 Church & Parish unrestricted and undesignated fund had decreased from about £127,000 at 1 Jan 2024 to £106,705. This reserve approximates to about 4 months of expenditure, vthich remains within our target range. Should our reserves fall outside the determined range, the PCC will take appropriate steps to correct the position within 24 months or sooner if possible. In normal circumstances the PCC will cary out a review of its Reserves once a year, as part of the process for preparing the year*nd accounts. Risk Management The PCC recognises its responsibility to assess and manage the various risks to which it is exposed.. a) Finan¢ial The Financial Management software enables the Treasury Team to make regular reports to the Finan & Stewardship Committee and to track and analyse trends much more effectively. The PCC asks the Finance & Stewardship Committee to assess the incomelexpenditure situation and takes appropriate action to ensure its financial stability regularly. A Financial Update from the Treasurer is a standard agenda item for the PCC and Standing Committee meetings. Control is maintained over cash receipts and cheques over £1,000 drawn on the CAF cash accounts require two signatures from a short, designated list. All payments via online banking require to be authorized by 0 signatories. There is good recording of invoices reiVed and paid in order to show a full audit trail from receiving the invoice to being able to identify where the invoice is posted in the accounts. This work is undertaken by our employed office administrator. All financial data on computer is backed up regularly 50 that records can be recreated if necessary. Fund balanS are in interest bearing accounts mainly with the Diocese and CAF. b) Reputational The PCC and its committees oversee all activities that impact on the local population as appropriate. c) Statutory The PCC and Church members in general have a wide range of expertise that is called upon to ensure that the PCC complies with its legal and ststutory duties. The PCC secretary updates Charity Trustee details wilh the
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Commission and submits accounts and reports. A churchwarden has taken responsibility for Health & Safety. In line with the Licensing of Premises Act, the Church Centre has an Entertainment Licence. Fire Protection devices in all premises are regularfy checkedlrenewed to meet ststutory guidelines. Gas safety testing and testing of electrical appliances are carried out in all premises as legally required. Every effort is made to comply with GDPR (General Data Protection Regulations). dl Operational The PCC takes responsibility for maintaining the fabric of the buildings, a major conseNation project on the ancient Ghurch building having been compleled in 2010. Trustee Indemnity Insurance is in place for PCC members. Our Insuran policies with Ecclesiastical Insurance are reviewed annually, thanks to the expertise of Peter McBrien. Health & Safety guidelines for Contractors on Church premises are written into all major contracts. The PCC has a Serious Incident Reporting Procedure for use by its groups (copy in Church offi}. The Pastoral Team has a Pastoral Care Guidelines document. Non-PCC members with access to parish records sign a confidentiality statement. The PCC has a Safeguarding Policy and aims to ensure that all volunteers with children, young people and vulnerable adults have been appropriately checked. Off-site activities for young people are approved by the PCC and covered for insurance purposes subject to risk assessments being carried out. A Parish Social Media Policy is in place using Diocesan guidelines. There is a Parish Data and Infomiation Policy Statement and a Data Privacy Statement. A Health & Safety policy is in place but being reviewed. An HR Policy and Procedures Statement is in place. E-votes by either PCC or Standing Committee are recorded in the minutes of the next meeting. For PCC members to be kept fully informed of Ghurch activities and to be in a posilion to fulfil their obligations as Charity trustees and to manage the church effectively, every member should be on at least one committee and each committee should be chaired by a PCC member. if at all possible. with minutes of all meetings being distributed to every PCC member ideally within two weeks of a meeting. Minutes are reviewed at both PCC and Standing Committee meetings. The Standing Committee tries to have representation on all committees. During January 2024, the PCC approved a financial planlbudget for unrestricted income and expenditure for 2024 which continued to include assumptions on the ongoing recovery from the effects of the Covid pandemic and outside economic pressures. Despite economies, the budget anticipated an excess of unrestricted expenditure over income of £26,576 for 2024. Through the year, the Finance Committee monitored figures and found normal income and expenditure to be largely in line with this budget, but extra funding was needed for unplanned and necessary maintenance items. Restricted and designated funds were used where possible and grant applications made. The situation continued to be advised to the congregations with an appeal early in the year lo review giving and a one-off appeal for roof repairs to St James. Church in July. Structure, governance and management Finchampstead & Califomia Parochial Church Council is the goveming body for St. James, Church, Finchampstead, St Mary & St John's Church, California (following the legal union of these 0 formerly separate parishes on 1 September 20111 and St Eligius. Church, Arborfield Green, following a small boundary change on 1 November 2017. There is one ancient church building. St James. Church, situated in Church Lane, Finchampstead, Wokingham. Berkshire. RG40 4LU and one more modern church building, formerly Arborfield Garrison Church, situated at Tope Rd, Arborfield Green, RG2 9NB (St Mary & Sl John's church used Gorse Ride Junior School, Finchampstead for worship until it took the decision to worship at St Eligius. at least on a long tenn temporary basis because of reduced clergy resources.) The parish is in Sonning Deanery in the Diocese of Oxford within the Church of England. The point of contact is the Church Office Tel: 0118 973 0133, email.. office@pfc-church.uk The PCC'S principal bankers are CAF Bank Ltd. 25 Kings Hill Ave, Kings Hill. West Malling, Kent, ME19 4JQ The independent examiner is Chris Nisbet of Azets, Suites B & D, Bumham Yard, Beaconsfield, HP9 2JH.
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Parochial Church Council (PCC) is a registered charity. no 1130075 and all its members (elected, ex officio and co-OPted} are Charity Trustees registered with the Charity Commission. During the period from 1 Jan 2024 to 31 Dec 2024 the following seNed as members of the PCC {Trustees):_ Incumbent.. Vacancy Stipendiary Associate Priest: Rev Julian McAilen Churchwardens.. Mrs Marjorie Stalker (seThed from APCM 2014) St Mary & St John s Mrs Ashlyn Webster (served from APCM 2019) St Mary & St John's Mrs Joy Scovell {seNed from APCM 2020 but not swom in till 2021) St James, Mr Robert Alder (seryed from APCM 2018) St James, (and also supporting Treasurer from Nov 2020} Mrs Lucia Golding (served from APCM 2018) St Eligius, Mr Paul Marsden (seNed from APCM 2079) St Eligius, (Lay Vice Chair from 20 June 2023) Representatives on the Deanery Synod (elected to 31 May 2026)." Miss Louise Alder (from APCM 2024) Mrs NickyAlder Mr Jeremy Allcock (PCC Treasurer from Nov 2020) Mrs Sarah Booth Mrs Carolyn Fox {PCC Secretary) Mr Claudio Zabbia Representatives on the Diocesan Synod (which entitles to a place on PCC) Mr Martin Hughes (to 31 July 2024) Elected Member.. (A to APCM 2025, B to APCM 2026, C to APCM 2024 and 2027) Mrs Janice Allen {Cl (to APCM 2024 and then re-elected to 2027) Ms Cath Bowers IBI Mrs Thelma Campbell IA) Miss Catherine Case (C) (From APCM 2024) Mrs Juliana (Bettina) Faull {A) (to 26 Jan 2024) Mrs Emma Fowler (A) Mrs Rowena Green (C) (From 15 July 2024) Mr Martin Hembra (A} (Deputy Churchwarden for SJ from APCM 2018) Mrs Chris Ilsley (Bl (to 19 Nov 2024 when moved away) Mrs Sally Marsden (C) (from APCM 2024) Mrs Bev Mitchell-wright (C) (to APCM 2024 and then reelected to 2027) Mr Dave Moore (B) Mr Richard Owen (B) Mrs Sue Sampson {B) Mr Will Owen (A) Co-opted Members: None
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Members of the PCC are generally either ex-officio or elected by the Annual Parochial Church Meeting {APCM) in accordance with the Church Representation Rules. Under the Synodical Govemment Amendment Measure 2003, the elected places come up for election on a three year cycle and members may stsnd for re-election. If anyone stands down early. a replacement fills the remainder of the three year term, to maintain the three year rotation. Where this is at the time of other elections. the total number are elected and then the one(sl to fill out-of- tum vacancies is (are) decided by lot. The 15 (maximum) elected PCC members are in three groups A. B and C (see above) to hold office till. respectively, APCM 2025, APCM 2026. and APCM 2024 & 2027. Deanery Synod representatives are elected for the 3 year temi of the Synod (the present temi being to 31 May 2026) and become ex officio members of the PCC. Diocesan Synod members are entitled to a place on PCC too. The Churchwardens are elected annually at the Meeting of Parishioners (MOP)] and, under the Churchwardens Measure 2001, may be re-elected up to a maximum of six conseculive years served, unless the MOP votes otherwise. [NB in the current circumstances, the 2024 MOP voted for Marjorie Stalker, Robert Alder and Lucia Golding to stand for an extra consecutive year.] The churchwardens are admitted to office by the bishop usually between the APCM and 31 July each year but take up their pla on PCC immediately after election. A retiring churchwarden continues in office until the successor is admitted to office. [Because of problems associated with arranging in person admissions Joy Scovell could not be sworn in till September 2021, though she undertook the duties of churchwarden from the time she was elected in 2020.] Associate Priests and Associate Curates, licensed to the parish, are automatically part of the PCC. Licensed Lay Ministers may be required by the APCM to be part of the PCC. The PCC is a corporate body fom)ed under the Parochial Church Council (Powers) Measure 1956 as amended. The PCC makes all decisions corporately except that the Standing Committee has delegated powers to make decisions between PCC meetings subject to keeping the PCC infomied as fully as necessary. The practical work of the PCC is largely devolved to committees thiose minules are circulated to all PCC members, ideally within two weeks of the meetings. Recommendations for decision are highlighted and then brought to the PCC: (The PCC has a number of committees and working groups covering specific areas. Some continue to meet on Zoom for the Convenien of the members. Not all committees have met in 2024 because of the need to work differently in the absence of a Rector and the recognition (identified as meriting attention in the PCC Away Day that had to be cancelled) that there might be better ways of achieving our objectives.) The PCC formally receives all the minutes, acts on the items requiring decision and is responsible for developing the vision and strategy for the parish. The PCC is responsible for all parish finance, including the appointment of a treasurer, and is required to ensure that the financial statements are examined by an independent examiner prior to presentation to the APCM. Charity Trustee Induction and Training The nomination papers state that nominees should not be °disqualified from being a Charity Trustee.- The implications of the role of Charity Trustee are cleady stated in a paper setting out 7 Primary Responsibilities of Charity Trustees in the APCM Information Pack with additional referen to the Charity Commission publication 'The Essential Trustee= What you need to know.. The nomination sheets all remind candidates that they will become Charity Trustees and refer them to this 'Legal Responsibilities, paper. Candidates are reminded in the 'Profile of a PCC Memberlcharity Trustee, document in the Infomiation Pack that they must -take the role of Charity Trustee seriously . Further induction is available when registration forms are completed for new PCC members and afternards if required.
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Special Thanks The PCC is immensely grateful for the regular financial commitment of so many people lowards the work of the parish and the generous response of so many to the appeal lo review giving as well as the one-off appeal for the repair of St James, Church roof. This is an important contribution towards the budget and ability to plan effectively. There is however no room for ComplancY as the undedying trend is reduced giving as new supporters are fewer in number and are giving less than those stopping because of death or moving away. The PCC also gives thanks for the generosity of past generations which has enabled us to purchase St Eligius Church and upgrade Sl Mary & St John's Parish Centre. all the better to minister to all the new housing in our parish. In addition, the PCC is very grateful to Finchampstead Parish Council for its one-off grant of £10,000 towards the flooring and chairs at St Mary & St John's Parish Centre and to the Diocese for its Development Fund support for our employment of a Children's Worker. The PCC pays huge tribute to our clergy and paid staff for their exceedingly hard work and dedication to the parish through another vacancy year. We are also incredibly grateful to the Area Dean. Canon Richard Lamey, in the early part of 2024 and other clergy in the Sonning Deanery who have given so much help with services. The church. like many charities. could not function as well as it does without all the volunteers who give their time and expertise either week by week or for one-off tasks, either prominently or behind the snes. The PCC thanks God for you all. Please keep giving your valuable contribution of time or skill to God's work here. More volunteers are always needed so speak to a churchwarden if you have time or a talent to offer. Thank you in advance. In summary, the PCC extends a huge thank you for all the contributions and the continued commitment of so many people to our parish life. Thank you. The Trustees Report was approved and signed on behalf of the PCC 10-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA I report to the trustees on my examination of the financial statements of Parochial Church Council of the Ecclesiastical Parish of Finchampstead and Califomia {the PCC) for the year ended 31 Dember 2024. Responsibilities and basis of report As the trustees of the PCC you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the PCC'S financial statements Caled out under section 145 of the 2011 Act. In carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the PCC'S gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member ofACA, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the PCC as required by section 130 of the 2011 Act., or the financial statements do not accord with Ihose records- or the financial statements do not comply with the applicable requirements conceming the fomi and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which altention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Mr C J NisbetACA Azets Audit Services Suites B & D Burnham Yard London End Beaconsfield Buckinghamshire HP9 2JH United Kingdom Dated: 2910412025 11
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income 177.672 26.866 55.233 39.099 1.001 28.478 604 206.150 27,470 55,233 39,099 24,770 181,031 23,343 54,566 39,124 1,545 29,345 324 210,376 23,667 54,566 39,124 18,744 23.769 17,199 Total Income 299.871 52.851 352.722 299.609 46,868 346,477 enditure on: Raising funds 32.154 32.154 24.713 5,898 30.611 Charitable activities 296,972 34,787 331,759 303,440 33,603 337,043 Other 13 9.160 9.160 13,251 13,251 Total resources expended 329.126 43,947 373,073 328,153 52,752 380,905 Net gainsl(losses) on investments 14 10,585 6,586 17.171 58.020 24,744 82,764 Net (outgoing)lincoming resources before transfers Gross transfers beeen funds (18.670) 15.490 (3.180) (6.480) 18,860 48,336 14.385 (14,385) (5) Net movement in funds (4.285) 1.105 (3.180) 29,471 18,865 48,336 Fund balanS at 1 January 2024 1.346.010 531.351 1.877.361 1.316.539 512,486 1,829,025 Fund balances at 31 December 2024 1,341,725 532,456 1,874,181 1,346,010 531,351 1,877,361 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 12-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets Investment propety Investments 16 17 18 380,399 400,000 894,083 201,800 400,000 1,056,913 1,674,482 1,658,713 Current assets Debtors Cash at bank and in hand 19 6,548 202,748 20,971 218,012 209.296 238,983 CredTtors: amounts falling due within one year 20 (9.597) (20,335) Net current assets 199.699 218,648 Total assets less current liabilities 1.874,181 1,877,361 Income funds Restricted funds Unrestricted funds Designated funds General unrestricted funds 21 532,456 531,351 1,235,020 106.705 1.218,915 127,095 1,341,725 1,346,010 1.874,181 1,877,361 13-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies 1.1 Accounting convention The financial statements have been prepared in accordance with the Church Accounting Regulations 1997 as amended by the Church Accounting (Amendment) Regulations 2006 together with the PCC'S governing document. the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The PCC is a Public Benefit Entity as defined by FRS 102. The PCC has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in steding. which is the functional currency of Ihe PCC. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment property and other investments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements. the trustees have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Church & Parish funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application lo the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts include all transactions. assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are infomial gatherings of church members. Restricted funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Volunta income Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under GifiAid is recognised only when reived. Income tsx recoverable on Gift Aid is recognised at the same time as the income. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due is quantifiable and its ultimate reIpt by the PCC is reasonably certain. Funds raised by the FetelPatronal festival and other social events are accounted for gross. Income from investments Dividends and interest are accounted for when due and receivable. 14-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) Intan ible income The PCC receives substantial practical assistan from individual church members, but the financial value is mainly unquantifiable and no attempt is made to reflect this in these accounts. Other Income The purchase and sales of goods and books are accounted for gross. Rental income from the letting of church properties is recognised when the rental is due. No bad debt write-offl provision is recognised until formal recovery proceedings are started. 1.5 Expenditure Expenditure and liabilities are recognised when a legal or constructive obligation exists to make payment to a third paty, it is probable that settlement will be required and the amounl of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Grants and donations are accounted for when paid over. or when awarded, if the award creates a binding obligation on the PCC. 1.6 Tangible fixed assets St James. Church, its fumiture and fittings, and the churchyard are not included in the balance sheet. Other freehold land and buildings held primarily or exclusively for charity use are included at the cost of acquisition or, where such cost is not available, at the estimated value at the time of acquisition. Land and buildings are generally not depreciated but are subject to an annual impairment review. The PCC considers that the market value of its interest in land and buildings is likely to be considerably in excess of their carrying value and considers it is not practicable to quantify the excess in view of the nature of the properties and that any attempt at such quantification would not assist the users of the accounts. The Manor House, flats and grounds were given for "ecclesiastical purposes" The Custodial Trustees are the Diocesan Trustees {Oxford) Limited {DTOL) and the Administrative Trustees are the PCC. Four flats in a part of the property are let. The PCC has a fom)al interest in the property and bears the cost of all repair and maintenance. The Church School was purchased in 1925 and is held under trusts "for ecclesiastical purpose in Finchampstead Parish" Under the temis of the Conveyan of the property the Custodial Trustees are DTOL and the Administrative Trustees are the PCC. The PCC'S interest is included at the cost of acquisition. The Parish Centre in Billing Avenue was purchased in 2001 and is of a construction that the PCC estimated to have a useful life of 25 years. An allowance for depreciation is made for this building only each year. Equipment used within the church is expensed as incurred. Office equipment is written off over 34 years and musical equipment is written off over 5 years. 1.7 Investment properties Investment property, which is property held to eam rentals andlor for capttal appreciation. is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the statement of financial activities. 15-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.8 Fixed asset investments Fixed asset investments are initially measured al Iransaction pri excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.9 Impaimient of fixed assets At each reporting end date, the PCC reviews the carying amounts of its tangible assets to determine whether Ihere is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impaimient loss {if anyl- 1.10 Financial instruments The PCC has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the PCC'S balan sheet when the PCC becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and setue the liability simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balans, are initially measured at Iransaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as re1vable within one year are not amortised. Basi¢ financial liabilities Basic financial liabilities, including creditors, are initially rec()gnised at transaction price. Financial liabilities classified as payable within one year are not amortised. 1.11 Gains and Losses on Investments Realised gains and losses are recognised when investrnents are sold. Unrealised gains and losses are accounted for on revaluation of investments at 31 December. 16-
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable activities 2024 2023 Fees from weddings, baptisms and funerals Other Activities 19,423 8,047 14,919 8,748 27,470 23,667 Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds 26,488 378 604 22,839 504 324 27,470 23,667 Other trading activities Unrestricted Unrestricted funds funds general general 2024 2023 Fete and other events Rental income 2,471 52,762 7,322 47,244 Other trading activities 55,233 54,566 Investments Unrestricted Unrestricted funds funds general general 2024 2023 Rental income Dividend income Interest receivable 15,600 18,135 5,364 15,600 20,064 3,460 39,099 39,124 18-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Raising funds Unrestricted Unrestricted funds funds general general 2024 2023 Restricted funds Total 2023 2023 Fundraisin and ublici Fete and fundraising costs Maintenance costs of flats 314 9,780 314 9,780 5,033 Fundraising and publicity 5,033 10,094 10,094 Tradin costs Other trading activities 12.115 12,497 5,898 18,395 Investment management 15.006 2,122 2,122 32.154 24.713 5.898 30,611 -20-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable activities Charitable Charitable Activi 1 Activity 2 2024 2024 Total Charitable Charitable 2024 Activi 1 Activity 2 2023 2023 Total 2023 staff costs Depreciation Parish share Church services Clergy expenses Music,choir and organist Other administration Mission giving Other Maintenance costs Insurance Utilities 20,951 20,951 4,400 157,682 1,304 3.704 12.749 8.057 20.512 6.759 68.692 7,837 14.612 30,263 30,263 4,400 162,826 246 1,946 11,890 11,120 16,994 6,032 66,958 6,989 13,059 4,400 4,400 157.682 1,304 3.704 12.749 8.057 20.512 6.759 162,826 246 1.946 11,890 11.120 16.994 6.032 68,692 7,837 14,612 66.958 6,989 13,059 231,718 95,541 327,259 241,317 91,406 332,723 Share of govemance costs (see note 10) 4,500 4,500 4,320 4,320 236.218 95.541 331.759 245.637 91.406 337,043 Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted fijnds 227.269 59.703 286,972 240,157 55,870 296,027 49 8,900 9,951 25,887 10,000 34,787 3,013 2,467 4,400 31,136 7,413 33,603 236.218 95.541 331.759 245.637 91.406 337,043 Description of charitable activities Charitable Activi Promotion of the whole mission of the Church, pastoral. evangelistic, social and ecumenical. Charitable activi Maintenance of the Church, Churchyard, properties and associated grounds. 21
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Support costs Support Governance costs costs 2024Support costs Govemance costs 2023 Independent examination & accountancy 4.500 4.500 4.320 4,320 4.500 4.500 4.320 4,320 Analysed between Charitable activities 4.500 4.500 4.320 4,320 11 Trustees None of the trustees {or any persons connected with them) recèived any remuneration or benefits other than to reimburse costs which they incurred in the running of the PCC. All payments made were approved according to the PCC policy and were evidenced by receipts. 12 Employees Employment costs 2024 2023 Wages and salaries (induding employer pension contributions) 20,951 32,730 During 2024, two people (2023.. 4) were employed by the PCC. The PCC also pays the Director of Music, Organistslpianists, a Cleaner{s), and two gardening contractors, who are not employees of the PCC. We benefit from the Govemment initiative to help small businesses and charities that allows us to claim Employment Allowance. This effectively means there is no requirement for the PCC to pay employers national insuranGe. 13 Other Restricted funds 2024 Restricted funds 2023 Helen Taylor Trust costs 9,160 13,251 9,160 13,251 -22-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Net gainsl(losses) on investments Unrestricted Restricted funds funds designated 2024 Total Unreslricted Restricted funds funds designated 2023 Total 2024 2024 2023 2023 Revaluation of investments 10,585 6,586 17,171 58,020 24,744 82,764 15 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 16 Tangible fixed assets Freehold land and buildings Church and pcc qulpmont Total Cost At 1 January 2024 Additions 295,400 182,999 24,877 320,277 182,999 At 31 December 2024 478,399 24,877 503,276 Depreciation and impairment At 1 January 2024 Deprecialion charged in the year 93,600 4,400 24,877 118,477 4,400 At 31 December 2024 98,000 24,877 122,877 Carrying amount At 31 December 2024 380,399 380,399 At 31 Dember 2023 201,800 201,800 The carrying value of land included in land and buildings comprises= 2024 2023 Freehold 15,000 15,000 -23-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Investment property 2024 Fair value At 1 January 2024 and 31 Dernber 2024 400,000 Investment property relates to 43 Mccarthy Way, Wokingham, and is stated on an open market value basis as determined by the treasurer. following consultation with relevant professionals. 2024 2023 Freehold 400,000 400,000 18 Fixed asset investments PCC Equity Investments HT Trust Equity Investments Total Cost or valuation At 1 January 2024 Valuation changes Disposals 603,170 10,584 (180,000) 453,743 6,586 1,056,913 17,170 (180,000) At 31 December 2024 433,754 460,329 894,083 Carrying amount At 31 December 2024 433,754 460,329 894,083 At 31 Dember 2023 603,170 453,743 1,056,913 19 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and aGGrued income 3,689 2,859 15,667 5,304 6,548 20,971 -24-
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals and deferred income 4,047 4,460 5.550 15,870 9,597 20,335 -25-
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FINCHAMPSTEAD AND CALIFORNIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 24 Related party transactions There were no disclosable related party transactions during the year (2023- none). -33-