THE PAR15H OF BROXBOURNE WITH WORMLEY
FINANCIAL STATEMENTS
For The Year Ended 31" December 2024
Charity Number 1130305

CONTENTS
Trustees Report
Independent Examlner5 report
10
Statement of Financial Activlties
11
Balance sheet
12
Notes to the Financial Statements
13-22

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
TRUSTEES REPORT
The Parochial Church Council IPCCI presenis Its repof t wlth the financial statements of the Charity
for the year ended 31" December 2024.
Alm5 and purposes
The primary objective of the PCC is to promoie the Gospel of our Lord Jesus Christ according to the
doctrines and practices of the Church of England. The Parochial Church Council (Power51 Measure
1956 state5 that the PCC is 'to co-operate with the incumbent in promoting to the ecclesiastical
parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical,,
Objectlves and Actlvltles
The PCC has adopted the Mission Statement, 'Growin8 a worshipping community reaching out with
Jesus, love,:
Growing- We aspire to draw new people into a living relationship with Jesus Christ.
Worshipping- The heart of our activity is to worship God in our gatherings and in
our lives;
Community- We want to be a place where people can build deep Christian
fellowship;
Reaching out- We want to have an impact on the needs of our local community;
Jesus, love- We want to be known for our welcome, compassion and seniice.
When planning its activities for the year, the PCC has considered the Charity Cornmission's guidance
on public benefit and, in particular, the supplementary guidance on charities for the advancement of
religion. In particular, the PCC is committed to:
Regular public worship, open to all;
The provision of a sacred space for personal prayer and contemplation;
Teaching Christianity through sermons, courses and small groups;
Pastoral work, including visiting the sick and the bereaved;
The provision of children's and youth activities Wlth a Christian ethos;
Taking religious assemblies in schools; and
Promoting the whole mission of the Church through provision of activities for young
families, senior citizens and other special need groups.
Achievements and Performance
During the last year, the sunday services continued with some alteration to the monthly pattern.
There was an 8am service at St Augustine's on a second and fourth Sunday, a 9.30am service at St
Laurence and an 11am service at St Augustine's every Sunday. The 6.00 pm Se￿iCe ceased. In
addition to the first Sunday of the month being an all-age service, at both the 9.30am and 11am
services, children's groups now run on the third Sunday of the month at St Laurence, and on the
second and third Sundays on the month at St Augustine's.
Tuesday@2 meeting in the Bushby Hall with Holy Communion ser4ice, meets regularly on a monthly
basis on the first Tuesday of each month with an average attendance of 40. We continue to lead
worship twice a month at the 8roxbourne Care home with an average attendance of 15 residents.

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statement5 for the year ended 31 December 2024
Trustee's Report cont'd
This is supported by the Wormley Free Church minister who alternates leading the service. We are
very thankful for this ecumenical partnership.
We were able to offer the full range of servlces on ChrSstmas Eve and Christmas Day, with an
attendance of 1,025 across 8 services.
Throughout the year in person weekly prayer meelln8 on Thursdays were offered. Other groups
(home groups, the BIG Group and Wednesday Afternoon Group) have been meeting in person.
Clergy were active Sn leading act5 of collective worsh5p In local primary schools. We were able to run
the Alpha course in October 2024 with 12 partlclpants.
As at 315t
December 2024, the Electoral Roll stood at 218. The usual Sunday attendance in 2024 was
172. During the year. the clergy conducted 15 baptlsms and thanksgivings, 7 weddings and servlces
of prayer and dedication after civil marriage, 20 funerals and 12 burials of ashes.
Flnanclal Review
The Statement of Financial Activities shows the income and expenditure of the Parish over the
course of the year.
There was a surplus of Income over expenditure before revaluation of investments and property of
£7,947 (2023: £38,273 deficit).
Total income was £161,045 (2023: £169.4501. Regular income from planned giving, gift aid and
church collections fell by 6.4% from £109,OCrf) in 2023 to £101,989 in 2024. The PCC still benefits
from the fact that over 80% of our regular giving continues to be made by standing orders.
A further £7,083 {2023: £5,648) was raised from bequests and donations.
During the year, a grant was received from St Albans Diocese totalling £250 towards the cost of
purchasing a second contactless terminal, for giving at St Laurence church.
Income from church activities increased by £4,482 from £18,340 in 2023 to £22,823 in 2024. The
increase was due in large part to £2,604 raised from the Music on a Sunday Afternoon concert held
in September, recorded under General fund raising.
Income from letting the Parish Centre decreased slightly, with revenues at £5,408 (2023.. £5,734).
Letting income from Wormley Church Rooms increased to £2.03412023: £225). The PCC has found
it difficult to rent the property after Squiggles nursery left in November 2022. On 28 October 2024
th
the PCC, alon8 With the Diocese, entered into lease agreements with Precious One (now known as
Broxbourne Community Church) to rent out Wormley Church Rooms for a period of 5 years, with a
break clause at 3 years.
Total expenditure decreased significantly in 2024 from £207,725 to £153,098. In early 2024, after a
review of the cash flow and likely income and expenditures, the PCC resolved to reduce the Parish
Share to an amount that was considered affordable, while allowing for us to continue to pay our
usual operating expenses. The Diocese requested a Parish share of £102,780, the PCC was only able
to pay £68,267 in 2024, a shortfall of 34,513, or 33.6%. (In 2023 we paid our full parish share of
£108,088}.

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
Trustee's Report cont'd
After considering the PCC'5 financial position, the PCC declded not to give to other Missions and
Charities, as it has done in the past. However, we have had dedicated collections during the year
and have managed to give:
£575 to The Bishops Ha￿est Appeal: The Leprosy Mlssion
£306 to the Children's Society, the usual collections at our Christingle services
£494 to the British Legion, donated on Remembrance Sundav
£150 to Young Life, a proportion of revenue raised at the Summer Fair
In 2024 church repairs and maintenance amounted to £10,05312023: £26,014). This was primarily
attributable to inspection and rectification work on the lighting System at St Augustine's and
architect's fees for appraising options and c05tings to replace the South Aisle roof.
Repairs and maintenance costs for 15 Trafalgar Avenue were £5,93312023: £2,764) including £3,263
for a new boiler.
The value of the General fund was positively imparted by a gain in the valuation of Investments of
£19,357 (2022 £35,236 gain}.
At the end of 2024 total funds on the balance sheet increased by £37,312 from £1,045,669 in 2023
to £1,082,981
The Property Revaluation Reserve represents the revaluation of 15 Trafalgar Avenue. The balance
on this Reserve is £135,00012023: £125,000) representing the revaluation since August 2018. We
have transferred the prior year Revaluation Reser4e of £125,000 from Designated Funds to this
Reserve within the Fair Value Reserve.
The General Fund now stands at £141.132 {2023: £100,395). Designated Funds, totalled £554,810
{2023: £567,722}. Restricted Funds totalled £252,039 {2023: £252,552).
Long-term investments- which are held in Church of England funds, Managed by CCLA, total
£398,098 at end-2024, up from £378,741 at the end of 2023. Net current assets £49,88312023:
£41,928) are made up of cash and bank balances and amounts owed to or from the Parish.
Reserves Policy
The PCC aims to maintain sufficient reserves to cover at least 3 month5, Worth of regular
expenditure and ongoing building repair projects. At the end of 2024 the value of the General Fund,
which finances general expenditure, was £141,132, equivalent to 9 months, payments from this fund
assuming Parish share is fully paid 12023: £100,395 equivalent to 6 months payments). The PCC aims
to run a balanced budget and continually reviews the financial position prior to committing to major
church repairs.
On-going Flnancial Commltments
At the date of this report the PCC confirms that each fund has sufficient assets to fulfil its
obligations.
While 2024 was a challenging year, the Trustees believe the charity remain5 3 going concern. The
factors listed below are not inconsiderable, however in late-2023 it becarne apparent that cash flow
was becoming an issue, with day to day running costs exceeding income. As a result of this, in

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
Trustee's Report cont'd
February 2024 the PCC decided to reduce its Parish Share payments for 2024 by £3,500 per month
for an initial 5ix-month period. This arrangement has continued over the year. We are launching a
Giving Campai8n in May 2025, in an effort to ensure our planned giving cover5 the day-to-day
operating expenses. During 2024, we launched Digital Glving within our churches and raised £1,067
throu8h this channel. We also revlewed our expenditure to ensure that we committed to essential
expenditures. This is evidenced by the reduction in expenses from E179,142 in 2023 to £119,227 in
2024 in the General Fund.
In May 2021, the PCC entered into a contract to fix gas and electrlcity prices for three years. In
October 2023 the PCC renewed this contract, on new terms, for a year from June 2024. In
December 2024 we further reviewed our contract, selecting a new "green" supplier {Ecotricity) and
signed a new contract for a year from May 2025.
Risk Management
In common with other churches and charities, the PCC faces risks. be they operational, financial or
reputational. The PCC keeps under review the risks to which it is exposed, assessing both the
likelihood and impact of a particular event or action and seeking to mitigate those risks.
Safeguarding
The PCC has a legal obligation under section 5 of the Safeguarding and Clergy Discipline Measure
2016 to have due regard to House of Bishops, guidance on safeguarding children and vulnerable
adults and it has complied with this duty.
Plans for the Future
As we mark 50 years of mission and ministry in 2027, our churches stand at an exciting threshold.
Our vision for the next three years builds on our legacy while embracing new opportunities to grow
as a welcoming. inclusive. and Christ-centred community.
The Trustees went on an away day in June 2024 to prayerfully seek to discern God's will for the
benefice. During the away day and at a subsequent review three core areas were
identified: Welcome, Invitation. and Resourcing. each critical for deepening faith, strengthening
community ties, and ensuring sustainable growth for the future.
The strategic priorities for the next three years12024-2027) are to celebrating our past, embracing
the present, and preparing for the future in a way that equips us to serve all in the Parish of
Broxbourne and Wormley, and to be a beacon of God's love, These include the following:
o Recruiting new younger members on welcome team,
o Initiating follow-up contact mechanism with new visitors.
o Ensuring elderly members of the congregation are well supported during the
services.
o Develop and grow midweek prayer group with a target of including 10 regular
participants,
o Grow number of home groups from 3 to 6 .

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
Trustee's Report cont'd
o Run spiritual growth se55ion5 at our Prlmary Schools- Young Alpha.
o Organise a youth event{sl worklng with the New Rlver Group.
o Offer two Baptism Preparation Courses per year.
o Invite new people to consider belng on the reading and leading Intersessions rota.
o Provide forums and opportunities for people to share thelr experiences and
contribute to the life of the church.
o Develop an annual teachin8 plan for Flourish at St Augustine's and Sunday School.
o Establishing once a term meeting of the leaders and helpers to review and plan.
Organise half yearly family engagement event.
o Implement a feedback system for parents and children to measure success.
Structure Governance and Management
The PCC is a corporate body established by the Church of England. The PCC operates under the
Parochial Church Council {Powersl Measure 1956 as amended and the Church Representation Rules.
Additionally, the Trustees Act 2000 sets out additional duties and powers of unincorporated
charities. The PCC became a registered charity on 23, June 2009. The Charity is funded by
voluntary giving and occasional grants. The trustees are elected as set out in the Church
Representation Rules by the Meeting of the Parishioners or the Annual Parochial Church Meetin8,
for a period of one year for a church warden or three years, extendable to four years, for other
members. Clergy are automatically trustees due to the clerical posts they hold.
At the regular PCC meetings, the Trustees agree the strategy and areas of activity for the Charity,
including vision, ministry and mission, safeguarding, risk management, grant makin& investment
reserves, premises and performance.
The following sub-committees are appointed by the PCC..
Standing Committee ISCI. This is the only committee required by law. It has the power to
transact the business of the PCC between its meetings, subject to any directions given by the
pcc.
District Church Council IDCC}. Both churches in the parish {St Augustine's, Broxbourne and
St Laurence, Wormleyl have their own DCC which attends to matter5 relating to that church,
mainly regarding the buildings and church services.
The PCC met 6 times during the year, with an average attendance of 73% at those meetings.

THE PAR15H OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
Trustee'5 Report cont'd
Reference and Admlnlstratlon
Addre55 for
correspondence:
The Parlsh Office
St Augustine's Parish Centre,
Churchfields,
Broxbourne, ENIO 7AU
1130305
Denote5 Deanery Synod Representative
Revd Ash David (from 25 April 20241
Revd Ash David luntil 25 April 20241
Ray Slade (until 9 April 20241
Charity Number
Trustees:
Priest in Charge
Curate
Reader Emiritus
Reader
Churchwardens
Brian Barton
Linda Hood*
Jackie King
Lucia Cogan (until 30 April 20241
Marion Kenny (appointed 4 June 20241
Elizabeth Perry ACA
Tina Braithwaite
Pauline Brown (appointed 30 April 20241
Angus Bunyan
Laura Dix lappointed 30 April 2024: resigned 30 July 20241
Sam Evans
Tony Fleetwood*
Geoffrey Green
Rhys Griffiths {appointed 30 April 2024}
James Harvey (appointed 30 April 2024: resigned 30 July 2024}
Chris House
Judith Hyde.
Susan McKeown {appointed 30 April 20241
Janet Mcmillan
Nicola Piek (appointed 30 April 20241
Richard Roberts (until 30 April 20241
Susan Shepherd lappointed 30 April 20241
Wendy Stewart
Gillian Walker (appointed 30 April 20241
Rhona Ward luntil 30 April 20241
Trevor Wheelhouse (until 30 April 20241
Secretary
Honorary Treasurer
Other electedlco-opted
members
Website
Independent Examiner
www.broxbournewithwormley.org.uk
Hammond Njagi FCCA
26 Woodstock Road
Broxbourne
Herts ENIO 7NX
Barclays Bank UK plc
Leicester, LE67 2BB
Bankers

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
Trustee's Report cont'd
Statement of Parochlal Church Counc51 IPCC) responslbllltles
Under the Charities Act 2011, tlie PCC Is requlred to prepare a statement of accounts for each
accounting year whicl) gives a true and fair view of the state of affalrs of the church. We are required
to..
l. Select suitable accounting pollcles and apply them conslstentlvi
2. Make judgeineiits and estiiiiates tliat are reasonable and prudent,.
3. State whether the policies adopted are In accordance wlth the Church Accounting Regulations and
with applicable accouiitiiig standards,. and
4. Prepare the fiiiancial statements on a golng concern basls.
We are responsible for keeping proper accountlng records which disclose with reasonable accuracy
at any time the financial position of the church and to ensure that such accounts comply with
applicable accounting standards and with the Statement of Recommended Practice and the
Regulations made under Sectlon 130 of the Charities Act 2011. We also have a responsibility to
safeguard the assets of the church and to take reasonable steps for the prevention of fraud and
other irregularities.
For and on behalf of the Trustees:
vd Ash David
VL

THE PARISH OF BROXBOURNE WITH WORMLEY
Flnanclal statements for the year ended 31 December 2024
INDEPENDENT EXAMINER'S REPORT
to the Parochlal Church Councll (PCC) of the Eccleslastlcal Parlsh ol St Augustlne, Broxbourne wlth
St Laurence, Wormlev
Charlty No. 1130305
I report to the PCC on my examination of the accounts of the Charity for the year ended 31
December 2024, whlch are set out on pages 11 to 22, and which I carried out in accordance with the
Church Accountin8 Regulations 2(X)61"the Regulations"} and section 145 of the Charities Art 2011
I'the Act.).
Responslbllltles and basls of report
As members of the PCC you are responsible for the preparation of the financial Statements. You
consider that the audit requlrement under Settion 14412) of the Act does not apply and that an
independent examination is needed.
It is my responsibility to:
examine the financial statements under Section 145 of the Act;
• follow the procedures laid down in the General Directions given by the Charity
Commissioners under Section 14515) Ibl of the Act: and
state whether particular matters have come to my attention.
Independent Examlnerfs Statement
I have completed my examination and I confirm that no material matters have come to my attention
in connection with the examination which gives me cause to believe that, in any material respect:
the accounting records were not kept in accordance with section 130 of the Act; or
the accounts did not comply with the accounting records; or
the accounts did not comply with the applicable requirement concerning the form 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 fairf view which is not a
matter considered as part of an independent examination.
I have no concerns and came across no other matters in connection with the examination to which
attention should be drawn in this report to enable a proper understandin8 of the accounts to be
reached.
Signed:
Date:
hp1J￿
Hammond Njagi FCCA
26 Woodstock Road
Broxbourne
Herts ENIO 7NX
io

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
STATEMENT OF FINANCIAL AcnviTIES FOR THE YEAR ENDED 31. DECEMBER 2024
Ilnrnslrlct•d Fu
Ilestrkled F•lr y￿U• Total F￿dI
Note. Genw•l Desiin•ted funds Il•
24
rt7tdFundi
29
Lknitlons •rrfl Lelicles
Churth Artlyltles
Otherlr•dlrq Artfvitles
In¥e5trnentsw￿ Propwty
TOTALINCOME
103x1
20,076
109.322
22,823
7,442
21.451
161,045
125498
J4340
1147
7,442
21.(K•)
3L191
19,651
169,¥AI
12J.5
R•lsln8
Chuth A¢<tr4ltles
TOTAL EXPENIXTi>RE
119,227
119,227
33,IC41
33,i¢M
763
763
153,098
153.098
207,723
X17,n3
IQ276
IL8171 15131
7,947
(A2n)
Net IftL*me Ilt¥W￿lturQl
3$230
In*stmerrt GI1￿{10$5es)
19.365
19,365
l¥opèrty rev•lu•ll
io.
io.(
Tr•nsfw5 belwttn Funds
11.095
IILC851
NETMOVEMENT IN FUNDS
40.n7
1119121
15131 10,C
37.312
13,037)
RECONOUAnoN OF FUNDS
Total funds brou8ht forward
Toul funds carrled forw•rd
567,722 251552 125,CO) 1,045,669
554,810 251039 135,c(KJ 1,081981
1.048. 706
1,045,Cfj9
Ic￿,395
14L132
Comparative figures for the year ended 31 December 2023 have been adjusted by transferring the
property revaluation reserve of £125,CN)O from Designated Funds to the Fair Value Reserve.
Comparative figures can be found in note 15
li

TrIE PARISH OF BROXBOURNE WITH WORMLEY
Financlal statement5 for Ihe year ended 31 DecembÈr 2024
BALANCE SHEET AS AT 31 DECEMBER 2024
2024
Flxed Assets
T•n8lble assets
Inve5tmÈnts
Note
2023
635,IXMI
398,098
1,033,098
625,(IXJ
378,741
IJXlJ,141
Shth tern) Investments
Debtor5 •nd preptymÈnts
C•5h •t Bank •nd In H•nd
io
11
321
22,610
36,086
314
17,566
30￿26
Tot•1 Cwrent Asset5
59,017
Credltm •mounts f•lllw due wlthln ono year
NEf CURRENT ASSEf5
12
9,134
49.883
41,928
TOTAL ASSETS LESS CURRENT LIABiunE5
I.OB2.981
1,045669
cred1￿. Amounts falllng due after more th•n one year
1.082.981
1.045,669
FUNDS
Restrlcted
251039
252,552
Unrestrfrted
General
Designated
141.132
554.810
567.n2
Falr Value Reserve
135,C
TOTALFUNDS
1.082.981
LO4669
Comparative figures for the year ended 31 December 2023 have been adjusted by transferrin8 the
property revaluation reserve of £125,000 from Designated Funds to the Fair Value Reserve
Approved by the Trustees on: 2yI
Re
Ash David (Chair}
Mrs Elizabeth Perry {Hon Treasurer)
12

Financial statements for the year ended 31 December 2024
Notes to the Financial Statements
I. ACCOUNTING POLICIES
a) Basis of Accountin8
The financial 5tateiMents have been prepared In accordance wlth:
The Cliurcli Accountlng Regulatlons 2006
The Charltle5 Act 2011
The Charities Statement of Recommended Practlce 2019 IFRS102)- second edltion
The accounts have beei) prepared undef the hlstorlcal cost conventlon wlth Items recognlsed at cost
or transaction value unless Otherwlse stated In the relevant note to the accounts.
In preparin8 the accounts, the Trustees have assessed that the Parish wlll remaln a goin8 concern for
at least the next 12 months. The Trustees do not conslder that there are any material uncertainties
in this respect.
Fund accountin8
The Parish's unrestricted income funds consist of general funds that the Parish may use lor its
charitable objective5 at its discretion. Its restricted funds represents funds received that the donor
has specifically restricted the purposes within the objects of the charity for which they can be used.
Income recognition
Income is recognised once the charity is entitled to the income, it is probable that the income will be
received and the amount of income receivable can be measured reliably. Donations are recognised
on receipt. Gift Aid is recognised as income where there is a valid declaration by the owner and is
treated as an addition to the same Fund as the initial donation, unless the donor has specified
otherwise.
Legacy gifts are recognised on a case by case basis, followin8 grant of probate when the
administrator/executor for the estate has communicated in writing both the amount and
settlement date. In the event the gift is in the form of an asset other than cash or a financial asset
traded on a recognised stock exchange, recognition is subject to the value being reliably measured
with a degree of accuracy and title to the asset having been transferred to the charity.
Interest on funds held on deposit is included when receivable and the amount can be reliably
measured,. this is normally on notification of the interest paid or payable by the bank. Dividends are
recognised once the dividend has been declared and notification has been received of the amount
due.
Gifts in Kind, Donated services and voluntary help are not included as income as they cannot be
reasonably quantified or measured.
13

THE PARISH OF BROXBOURNE WITH WORMLEY
Financlal stateinents for the year ended 31 December 2024
Notes to tl)e Flnanclal Statements cont'd
Resources expended
Expenditure Ss Included on an accriials basls. Church Management and administration comprises
Costs for the runnlng of the charity Itself as an organisation,
Fixed Assets
Churche5, Churchyard5 and the Vlcarage are vested in the Representative Body of the Church of
En8land, such property forms no part of the assets of the parish. Moveable church contents require
a faculty for disposal so are considered to be Inallenable property. They are generally of an historic
nature so valuation is Impracticable.
The Parish Church Halls are regarded as inalienable properties and having been acquired sornetime
In the past, there is insufficient cost informatlon available and therefore such assets are not valued
in the accounts.
Property Investments
Freehold property investment is valued at market value. A new valuation was performed on 22
January 2025 by the charity's letting agents, Space Estates, based in St Albans. The previous
valuation was carried out in December 2023.
Listed investments
Listed investments are classified as financial assets measured at fair value through income and
expenditure. Investments are initially recognised at cost and subsequently measured at their market
value as at the balance sheet date using the closing quoted market price. The statement of financial
activities includes the net gains and losses arising on revaluation and disposals throughout the year.
Asset sales and purchases are recognised at the date of trade at cost, i.e. the transaction value.
The charity does not acquire or use put options, derivatives or other complex financial instruments.
Debtors
Trade and other debtors are recognised at the settlement amount due for the provision of services
delivered. Prepayments are recognised at the amount prepaid.
Creditors
Short term creditors are measured at transaction prices. Accruals are recognised at the settlement
amount where the goods or services have already been delivered or an apportionment of the
amount based on number of days, where the settlement amount covers a period that straddles the
year end. Concessionary loans payable are measured at the amount initially received, with the
carrying amount adjusted to reflect repayments, and adjusted if necessary for any impairment.
14

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statement5 for the year ended 310eceniber 2024
Notes to the Financial Statements cont'd
Accountin8 for leases
th
On 28 October 2024 the PCC entered into lease a8reements, alongside the Dlocese of St Albans
Board of Finance with Precious One {now Broxbourne Community Church). Under FRS102, the
Financial Reporting Standard applicable in the UK and Ireland, the leases have been determined a5
operating leases. In exchange for an annual rental, recognised as income under the Wormley
Church Rooms designated fund, Precious One have occupallon and exclusive use of the Wormlev
Church Rooms for a period of 5 years, with a break clause at 3 years.
2. CONNECTED CHARITIES
The Parish of Broxboume with Worniley is independent of, but part of, the Diocese of St Albans. The
Parish pays a contribution to the St Albans Diocesan Board of Finance IDBF), known as the Parish
Share. The amount requested is determined by the Diocese and in 2024 was £102,78012023:
£108,088} and the Parish paid £68,26712023:£108,0881.
3. RELATED PARTIES
During the year the following payments were made to Trustees:
£ 558 to Geoff Green in respect of Verger fees, with a further £464 due as at 31"
December
£252 to Linda Hood in respect of Verger fees, with a further £30 due at 31" December
£220 to Chris House in respect of Verger fees
John Hyde, as a related party, received fees totalling £4,88512023: £4,020) as organist.
15

THE PARISH OF BROXBOURNE WITH WORMLEY
Financlal statements for the year ended 31 December 2024
Notes to the Flnanclal Statements conl'd
4. ANALYSIS OF INCOME
Pegfrkted
Sunth
Tot•1 Funds
2024
TotolFundJ
2023
Pl•nn*d Ilvir
6IftA
Collecttoni
Doh•tlons•n¢ Bequ•sts
M1s51on •nd outwth
Gr•nts'.
77.1)J
17,411
6.721
4381
7T,833
17A28
85.Q8
37.fO9
SR)3
S648
Bulldiw5
Defibrtll•tvr
Educ•t￿n
iit•l Roll¢
P•lntlryCon5•FV•t
VJ70
109.
s•x
Fees lorw•ddlry
11918
G•nor•l fvnd r•islni
Insur•nc• d•lms
Rhyme tIM￿Alph•
Tyesd•y5 •t 2
MIS￿lIan*0￿5
1147
L359
10.67S
1147
1.359
1756
1187
P•rtsh centr• lettings
Churth room5 l•ttln
1034
7M2
21,(iXI
S734
225
1034
Investment and prO￿rtY
8•nks •nd Invthnts Int4r•rt
21.(
U9.503
iOU44
109.450
16

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
Notes to the Financial Statements cont'd
5. GRANTS RECEIVED
2024
2023
Digltal Rollout
St Albans Diocese
2Y)
Last Supper Palnting Restoratlon
The Leche TNst
Archbishops Council
Education
Broxboume Education Charity
1,450
Maintenance of Lych Gate at St Laurence
Hertfordshire County Council
10,850
6. ANALYSIS OF EXPENDITURE
Total
IJ
F•ir
b Churth Art*¥￿$
Msgon 50uets.es
Relief aeer￿*S
Ed￿atic￿ and ytyjth wort
68,267
LSt*
ijeryy •nd staff expenses
S•feguxdin8
thufth
Insur•r￿ •rKI ¢rtiiitles
fees rel•ted to weOdln8s et¢
Churth It￿IrS and m•ifiienK•
Pxlshtentre
St LaurW￿ Churth ro
M•88iines•nd publlulions
Tue5d4ys•t2
L217
13,881
9.315
2&014
&446
fj05
L796
L796
1532
In5
77S
i•L720
27.175
Y6J
INn2
P4rtth Offk*iAOmthistr¥t
Staff costs
Property. 15Trnf•lqwA¥eniie
5.611
il,
W4
4169
W78
5.933
&9U
119.227
76J
1SJ.091
7.713
17

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
Notes to the Financial Statements cont'd
7. EMPLOYEES, REMUNERATION
2024
2023
Total Wa8es
11,894
11,078
Durin8 the year, the Parish employed 112023.. 11 member of staff, equlvalent to I full time
employee. No employees received emoluments In excess of £60,000.
The charity has taken advantage of the Employment Allowance, resulting In zero social security
costs.
Most of the work of the Parish15 performed by a large number of volunteers, including the Parish
Church Council IPCC) and District Church Councils IDCCI, members of sub-committees and numerous
volunteers.
Church Workers Pension Fund (CWPF
Broxbourne with Wormley PCC participates in the Pension Builder Scheme section of CWPF for lay
staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets
separately from those of the Employer and other participating employers,
CWPF has two sections:
l. the Defined Benefits Scheme
2. the Pension Builder Scheme, which has two subsections,.
a deferred annuity Section known as Pension Builder Classic, and,
a cash balance section known as Pension Builder 2014.
Pension Builder Scheme
Both sections of the Pension Builder Scheme are classed as defined benefit schemes.
Pension Bullder CIus5ic provides a pension, accumulated from contributions paid and converted into
a deferred annuity during employment based on terms set and reviewed by the Church of England
Pensions Board from time to time. Discretionary increases may also be added, depending on
investment returns and other factors.
Penslon Builder2014 is a cash balance scheme that provides a lump sum which members use to
provide benefits at retirement. Pension contributions are recorded in an account for each member.
Discretionary bonuses may be added before retirement, depending on investment returns and other
factors. The account, plus any bonuses declared 15 payable, unreduced, from age 65.
There is no sub-division of assets between employers in each section of the Pension Builder
Scheme.
18

fHE PARISH OF BROXBOURNE WITH WORMLEY
Financial Statements for the year ended 31 December 2024
Notes to the Financial Statements cont'd
The scheme is considered to be a multi.employer scheme as descrlbed In Sectlon 28 of FRS 102. Thls
is because it is not P055ible to attribute the Penslon Bullder Scheme's assets and Ilabllltles to speclflc
employers and means that contributlons are accounted for as If the Scheme were a deflned
contribution scheme. The pensions costs charged to the SOFA In the year are the contrlbutlons
payable {2024: £957, 2023.. £8471.
A valuation of the Penslon Builder Schen)e1s carrled out once every three years. The most recent
valuation was carried out as at 31 December 2022.
For the Pension Builder Cla55ic section, the valuatlon revealed a surplus of £34.8m on the ongolng
assumptions used. At the most recent ai)nual review effective l January 2025, the Board chose to
grant a discretionary bonu5 of 6.7% to both pensions not yet payment and pensions in payment in
respect of seNice prior to April 1997,. and a bonus on pensions In payment In respect of post April
2006 service so that the pension increase was 2.7% (where usually it would be calculated based on
inflation up to 2,5%). This followed improvements the funding position over 2024. There is no
requirement for deficit payments at the current time.
The next valuation is due as at 31 December 2025,
For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoSng
assumptions used. There is no requirement for deficit payments at the current time.
The legal structure of the scheme is such that if another employer fails, Broxbourne Wlth Wormley
PCC could become responsible for payin8 a share of the failed employerfs pension liabilities,
8. TRUSTEES, EXPENSES
Expenses totalling £1,80912023: £1,207) were reimbursed to 112023., 21 members of the PCC in the
year. These payments were for travel costs incurred in attending meetings, telephone, Postage,
subsistence and reimbursement of costs. Neither members of the PCC nor any person connected
with them have received or are due to receive any remuneration for the year directly or indirectly
from the Charity Funds.
9. PROPERTY AND INVESTMENTS
Financial
Property Investments
Total
2024
Total
2023
Balance 35 at ljanuary 2024
Disposals at realised value
Additions at cost
Gain on revaluation
Value as at 31 December 2024
625,LJX)
378,741
I,(X)3,741
120,466
35,236
I,(K13,741
io,co)
635,IXIJ
19,357
398,LY38
29,357
1,033,098
19

THE PARISH OF BROXBOURNE WITH WORMLEY
Financial statements for the year ended 31 December 2024
Notes to the Financial Statements cont'd
10. SHORT TERM DEPOSITS
2024
2023
C8F Deposlt Fund- General
CBF Deposlt fund - OrBan Fund
170
170
143
321
313
11. DEBTORS
2024
2023
Incorne Tax recoverable
Prepayments
Other Debtors
15,567
1922
5,121
22,610
718
192
17.566
12. CREDITORS
2024
2023
Amounts falllng due within one year
Deferred income
Creditors for goods and services
Other creditors
Discretionary Loan
2,478
6,656
5,395
183.
5Ci)
6,478
9,134
Amounts falling due after more than one year
Discretionary Loan
2024
2023
Amounts fall1￿ due wfthln one year
Deferred Income
Creditor5 forgoods and sery1￿5
other CTeditors
Dlsuetlonary Loan
2A77
6.655
5.395
183.
9,133
6.478
Am(K4rts falling due after more than one year
Dlscretionary Loan
20

fHf p14BISH OF BROXBOURNE WITH WORMLEY
Fin817cjal statements for the year ended 31 December 2024
Notes to the Financial Statements cont'd
The PCC entered into an interest free loan to fund the replacement wlndows for 15 Trafalgar
Avenue. Repayments were due every quarter, with the final payment made at the end of February
2024.
13. CONTINGENT LIA81LITIES
Followin8 a survey, asbestos has been found in a flange gasket wiihin the boiler room and an
outbuilding within the churchyard. Asbestos was a150 found in the textured ceiling finishes and tile
adhesive throughout the Parish Centre, panels on the walls in the heater cupboard, and the brown
floor tiles within the small hall. These findings are to be monitored by the PCC. 11 is not possible to
reliably measure the exposure. As and when repairs are necessary to these parts of the buildings, the
PCC will first ensu￿ safe removal of any asbestos present.
14. MOVEMENT IN FUNOS
8al•nc• •sit Incom•
oUOiI2024
EXp￿￿OIUrn Re¥*lu•tiws Trinsfws B•l•nc• *$ •t
311￿12024
11.095
14LI32
Gehernl fvnd
l(Kl.395
9J03
119.227
s(￿￿1 2L(
5.933
I￿,(67}
3.9r2
Property- 15 Trafalgar Avenue
8roxboume Par15h Centre
Wcmiley thurth Rooms
St Augustine Aep•irs
St Laurer*ce Repalrs
Rhym fimel Alph4
Tuesdtys 612
TO￿ DesWWt•d F￿)d$
2L961
26531
2.034
319
L670
18.8271
1937
175401
Z949
1147
567.n2 3L191
1.863
33.1
111.0951
24),337
4n
445S
5.141
Hglden LeK•CI. StAuiustlne
Missionsand Charltles
StAugusts"ne's organ fund
West Winoow Projert
Di8tt•l Rollout
MainteMtKe of L￿A G•te
Defibnllator
EdLKatlon
TO￿ ResthLted Fw
240.337
4n
4A55
5.141
297
495
io.(#))
135.(
Property Rvaluatlon Reserve
153A
TOTAL FUNDS
21

THE PARISH OF BROX8OURNE WITH WORMLEY
Financial statement5 for the year ended 31 Deceinber 2024
Notes to the Financial Statements cont'd
ST
15. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestrlcle(l Funds Re5tdrted F•lf V•lue Tol81 Funds
Gener•1 De51in•led lunds
Reser¥e
X123
TotolFundJ
2022
Note
Don•tlon5 •nd Leg•c*es
Church Artfv6tles
othertr•dln8 Artlvltles
Investments •nd Property
TOTAL INCOME
109,
3n,9Y
14.635
14,112
18,854
431595
4.768 10,850
L750
5,959
19,2C(I
31.683 10,J50
125A98
18,340
5,959
19,653
169.450
453
126,917
ExpeThdThire
Fund R•lslng
Churth ArtlvStles
TOTAL EXPENtXWRE
179.142
179.142
14,OYJ 14.491
14,OXI 14,491
207,n3
207,723
2t15,797
206.797
Net Income Ile¥pendtturnl
1512251
17J93
(3,￿1)
138,2731
224,798
In￿$1M*nt G•In￿{loS$eS}
35,230
35.236
{17,8llJ
Prop•rty r￿lIU•l￿on
Tr•nsf•rs b•tw••n Funds
16.724
I￿.298) 11,4261
NEfMOVEMENT IN FUNDS
12651
15.06n
13.037)
2LkS,987
RECQNaUAnoN OF FUNDS
Tot•1 fvnds Ixouiht forward
Tot•1 lusids urrl*d forw•rd
ICL1,060
Ic￿.39)
565,427 237.019 125.CO) 1,018,706
567,n2 252.552 123.thxl I,Cb15,669
841.719
L018,706
Comparative figures for the year ended 31 December 2023 have been adjusted by transferrln8 the
property revaluation reserve of £125,000 from Desi8nated Funds to the Fair Value Reserve
22