## **Annual Report**
## **and**
## **Financial Statements**
## **of the**
## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
**for the year ended 31 December 2024**
## **Team Rector:**
The Reverend Dr David Munchin The Rectory 2 Ottway Walk Welwyn Herts AL6 9AS
## **Bank:**
Barclays Bank plc The Welwyn Group 12/12A The Howard Centre Welwyn Garden City Herts AL8 6ER
## **Independent examiner:**
Chris Burton BA, FCA Chartered Accountant 13 Warren Way Welwyn Herts AL1 0DQ
**Registered Charity no. 1130415**
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Annual Report for the year ended 31 December 2024**
## **Aim and purposes**
The PCC of the parish has the responsibility of co-operating with the incumbent, the Rev’d Canon Dr David Munchin, in promoting in the parish the whole mission of the Church, including its pastoral, evangelistic, social and ecumenical vision. It also has the maintenance responsibilities for St Mary the Virgin, Welwyn, St Michael and All Angels, Woolmer Green, St Michael’s House and Church House.
## **Objectives and Activities**
The PCC is committed to enabling as many people as possible to worship in our two churches and to become part of our parish community. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer, scripture, music and sacrament.
When planning our activities for the year, the incumbent and the PCC considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance for charities on the advancement of religion. Primarily, we try to enable ordinary people to live out their faith as part of our parish community through:
- Worship and prayer; learning about the Gospel; and developing their knowledge and trust in Jesus.
- Provision of pastoral care for people living in the parish.
To facilitate this work, it is important that we maintain the fabric of our two churches, St Michael’s House and Church House.
## **Plans for the future**
Our new Mission Action Plan from the last year has highlighted three areas that need attention over the next 3- 5 years. Firstly financial stability, particularly after the high rise in costs in the first half of 2023. A stewardship appeal made good inroads into a projected deficit. It has been decided that an annual ‘giving weekend’ that focusses on stewardship would be a good way to maintain momentum, this happened with good results in May 2024 and will be repeated in 2025. Secondly was a revitalising of our work with children. Junior church is now on a more stable footing with regular volunteers and material. However our attempt to restart CrafTea was not successful due to lack of children wanting to attend. On the other hand Junior Choir has been started again, and is so far going quite strongly with a dozen new members. There are also the continuing Choral Scholarships for older children. Our third aim was to look at starting a more informal service on the fourth Sunday morning. This would be accompanied by a choral service, sometimes Eucharistic on the fourth Sunday evening. This was begun in the autumn of 2024, and has so far proved successful and popular.
## **Achievements and Performance**
_Worship and Prayer_
All are welcome to attend our regular services. At present, there are 256 parishioners on the Church Electoral Roll.
The PCC is keen to offer a range of services during the week that our community finds both beneficial and spiritually fulfilling. Quiet spoken Eucharist services are held on weekdays and on Sunday mornings. Sung Eucharist services are held every Sunday morning and on major festivals. On the fourth Sunday this has now become a well-established Café style service. Evensong services are held in St Mary’s on the second, fourth and fifth Sundays of each month, with this generally being choral on the second Sunday. Services especially aimed at families and young children are held on a regular basis, usually in the more informal setting of Church House, such as the bi-monthly 40-minute pram service. Monthly services are held at various care homes and day centres for the elderly throughout the parish.
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Annual Report for the year ended 31 December 2024 (continued)**
## **Achievements and Performance (continued)**
Special preparation classes are run for those who wish to get married in the churches and for those wishing to have their children baptised. Baptisms take place during normal Sunday morning services, enabling families to be welcomed by the church community. This is usually on the fourth Sunday of the month.
We have a notable choral tradition, which enhances worship. We have a large and able choir, complete with children and young people, offering an outstanding musical contribution to our worship. Over the past year this has seen further development, not least in the offering of an organ scholarship and various events such as a ‘Come and sing’ Messiah with orchestra.
## _Pastoral Care_
There is a trained team within the congregation to provide Baptism preparation and a team to welcome newcomers and visitors. Pastoral care is largely provided by the clergy, and informally by members of the congregation on an ad hoc basis.
A Memorial service is held annually in November at St Mary’s for those who have been bereaved during past years. This is followed by refreshments and a time for fellowship and support.
## _Mission and Outreach_
The PCC has a policy of making donations to local, national and international charities, mostly through the fundraising work of church members, equivalent to at least 15% of the annual voluntary donations received by St Mary’s. This target was met in 2024 – see Note 4 for further details.
Each year the parish produces 10 issues of the Welwyn Magazine with Woolmer Green, which contains both church and local information. It is sold widely throughout the parish.
The Welwyn Community Café, set up in November 2009 in conjunction with the Welwyn Parish Action Plan Group and in line with the Welwyn Parish Plan, has continued to be successful. The café runs most Tuesday mornings, from 10am until noon, in Church House. Church House also provides a venue for other community groups, such as a twice-weekly sewing and knitting group, a bridge club and a monthly community lunch.
There are many opportunities for Bible Study and other forms of Christian education; the website and the weekly pew bulletin give extensive details of these.
We take a key role as participant and venue in Welwyn Week. In addition, the parish runs a walking group, two book groups, a theatre group, and Saturday Breakfast events, which are open to church and non-church members. We produced a successful pantomime in 2024, which was well attended, entertaining and raised money for a charity. Further details of activities and up to date information can be found on our website.
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Annual Report for the year ended 31 December 2024 (continued)**
## **Financial Review**
## _Income_
Total income was £241,024, a small increase of £2,625 on last year _(2023: £238,399)._
There was a 7.4% increase in regular giving to £120,637 _(2023: £112,308_ ). The Giving Weekend in May highlighted the importance of all those who are able signing up to regular giving, ideally via the Parish Giving Scheme and with the inflationary increase option. The popular monthly Saturday recitals at St Mary’s raised £5,558 after deduction of expenses. We received legacies of £5,254 _(2023: £12,417_ ) and grants of £250 _(2023: £2,750)._
Income from charitable activities was £22,992 ( _2023: £19,263_ ) and from other trading activities was £27,199 ( _2023: £26,974_ ).
We are very grateful for the generosity of the church community – for donations of money, time and talents – all of which enable the running costs of the buildings to be met and the church’s mission in the two communities of Welwyn and Woolmer Green to continue.
## _Expenditure_
Total expenditure was £245,755, a small increase of £1,246 on last year _(2023: £244,509_ ). St Michael’s House, the property in London Road, Woolmer Green, which was used as accommodation for the curate, was sold in the Autumn following the curate’s move to Codicote. This resulted in a very small loss on disposal of £1,202.
## _Summary_
Overall the charity recorded a deficit of £4,606 _(2023: deficit of £5,636)._ There was capital expenditure of £6,020 _(2023 £6,005)_ . The cash balances (in bank and deposit accounts) rose to £799,698, which includes the proceeds of the sale of St Michael’s House _(2023 £169,022)._
## **Reserves**
The charity’s total funds dropped by £4,606 to £889,413 ( _2023: £894,019_ ). Restricted and endowment funds were £8,169 ( _2023: £8,044_ ). Designated unrestricted funds for emergency expenditure and capital for church groups and activities rose to £49,639 ( _2023: £46,004_ ), and a new designated fund of £628,236 was set up with the proceeds of the sale of St Michael’s House for the purchase of a new curate’s house, which is anticipated in 2025. General unrestricted funds dropped to £203,369 ( _2023: £214,971_ ).
Unrestricted cash reserves (i.e. undesignated money freely available to spend on the charity’s purposes) were £119,249 ( _2023: £120,686_ ). The PCC’s reserves policy is to hold sufficient unrestricted cash reserves to cover at least four months' operating expenses, which the trustees believe will provide stability for the charity, and they are satisfied with its current position.
## **Risk Assessment Policy**
The PCC is actively involved in the day-to-day running of the charity. Its members have assessed the major risks to which the charity is exposed and have satisfied themselves that systems have been established, or that other appropriate measures have been taken, to mitigate those risks, insofar as is reasonably practicable, but it is recognised that systems cannot give absolute assurance that risks have been eliminated. Training of trustees and volunteers has been provided to mitigate the safeguarding risks associated with young people.
The PCC is aware of its duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops guidance on safeguarding children and vulnerable adults). It has appointed Safeguarding Officers for each church and approved the House of Bishops’ Model Policies for safeguarding of
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Annual Report for the year ended 31 December 2024 (continued)**
## **Risk Assessment Policy (continued)**
children and vulnerable adults (this is done annually and the policies are displayed in the churches, with additional information). In addition at each meeting a report is given on any safeguarding incidents. No safeguarding incidents occurred in 2024.
Matters associated with financial losses have been identified as a risk too. Because regular monthly expenditure exceeds regular monthly giving income, there is a reliance on one-off donations, legacies and appeals to raise sufficient funds to break even. Please see the above section on ‘Plans for the future’ and Mission Action Planning for information on how we are attending to this.
## **Volunteers**
The PCC appreciates and thanks all the volunteers, at both St Mary’s and St Michael’s, who give their time and effort so willingly.
## **Structure, governance and management**
Members of the PCC are either ex-officio or elected at the Annual Parochial Church Meeting in accordance with the Church Representation Rules. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish, including deciding on how the funds of the PCC are to be spent. Given its wide responsibilities, the PCC operates through a number of action groups and committees, most of which meet on a regular basis.
## _Standing Committee:_
This is the only committee required by law. It has power to transact the business of the PCC between its meetings, subject to any directions given by the Council.
## _Fabric Action Group:_
Deals with the maintenance, repair and development of the church buildings, St Michael’s House and Church House.
## _Giving Action Group:_
Deals with the allocation of donations to chosen charities, both at home and abroad, and is responsible for encouraging parishioners to commit to regular giving, both of time and money, to ensure the well-being of the church and its functions.
## _Church House Management Action Group:_
Responsible for the management, maintenance and usage of Church House.
## _St Michael’s Meeting:_
Acts like an Action Group and deals with all matters relevant to St Michael’s Church.
As the PCC has ultimate responsibility for a wide range of matters affecting the parish, it is important that the PCC adopts appropriate training procedures. Training courses arranged by the diocese are attended by a PCC representative who reports back to the PCC as a body, with any relevant reading matter being distributed.
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Annual Report for the year ended 31 December 2024 (continued)**
## **Administrative information**
The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2006). The Charities Act 2006 removed ‘excepted status’ from charities with incomes over £100,000 and therefore, during 2010, the PCC was required to register as a charity with the Charity Commission; its registration number is 1130415. The PCC’s administrative office is located at St Mary’s Church, Church Street, Welwyn, AL6 9LX.
During 2024, the following served as members of the PCC:
|_Incumbent:_|Rev'd Dr David Munchin|Chairman|
|---|---|---|
|_Clergy:_|Rev’d Christie Gilfeather||
|_Readers:_|Mr Colin Hull (Deanery Synod Rep.)||
||Mrs Usha Hull||
||Mr John Burnapp||
|_Church Wardens:_|Mr Stuart Westley||
||Mrs Diane Jenkin||
|_Deanery Synod Reps.:_|Mrs Vernonne Allan||
||Mrs Mavis Francis||
|_Elected Members:_|Mrs Jacqueline Davis||
||Mrs Joan Shelley||
||Mrs Georgina Beck||
||Mr Stuart Jenkin||
||Mrs Margaret Varco||
||Ms Crystal Lam||
||Mrs Elizabeth Hesketh||
||Mrs Christine Allday||
||Mrs Helen McKay||
|_Secretary_|Mrs Louise Hughes||
|_(not a PCC member):_|||
Signed on behalf of the PCC by
………………………………………….. The Rev'd Dr David Munchin (Chairman)
……………………….. Date
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## **Independent Examiner’s Report to the members/trustees of the Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
I report to the charity’s trustees on my examination of the accounts of the PCC for the year ended 31 December 2024.
## _**Responsibilities and basis of report**_
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the Trust's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## _**Independent Examiner’s statement**_
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:
1. accounting records were not kept in respect of the Trust, as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements 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 fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the Charities SORP (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Chris Burton BA, FCA Chartered Accountant 13 Warren Way Welwyn Herts AL6 0DQ
………………………… Date
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Statement of Financial Activities**
## **For the year ended 31 December 2024**
|||**Unrestricted**|**Restricted**|**Restricted**|**Endowment**|**2024**|_2023_|
|---|---|---|---|---|---|---|---|
|||**Funds**|**Funds**||**Funds**|**TOTAL**|_TOTAL_|
||**Note**|**£**|**£**||**£**|**£**|_£_|
|**INCOME AND ENDOWMENTS FROM:**||||||||
|Donations and legacies|2a|181,876|3,254||-|**185,130**|_189,888_|
|Charitable activities|2b|22,992||-|-|**22,992**|_19,263_|
|Other trading activities|2c|27,199||-|-|**27,199**|_26,974_|
|Investments|2d|4,566||-|152|**4,718**|_2,274_|
|Insurance claim||985||-|-|**985**|-|
|**TOTAL INCOME**||237,618|3,254||152|**241,024**|_238,399_|
|**EXPENDITURE ON:**||||||||
|Raising funds|3a|4,921||-|-|**4,921**|_2,764_|
|Charitable activities|3b|239,480||-|152|**239,632**|_241,745_|
|Other costs – loss on disposal of fixed assets|3c|1,202||-|-|**1,202**|-|
|**TOTAL EXPENDITURE**||245,603||-|152|**245,755**|_244,509_|
|**NET INCOME**||(7,985)|3,254||-|**(4,731)**|_(6,110)_.|
|**NET GAINS ON INVESTMENTS**|7|-||-|125|**125**|_474_|
|**TRANSFERS BETWEEN FUNDS**||3,254|(3,254)||-|-|_-_|
|**NET MOVEMENT IN FUNDS**
||(4,731)|-||125|**(4,606)**|
_(5,636)_|
|**BALANCES BROUGHT FORWARD**||||||||
|**AT 1 JANUARY 2024**||885,975|2,574||5,470|894,019|_899,655_|
|**BALANCES CARRIED FORWARD**||||||||
|**AT 31 DECEMBER 2024**||**881,244**|**2,574**||**5,595**|**889,413**|_894,019_|
The notes on the pages following the balance sheet form part of these accounts
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Balance Sheet at 31 December 2024**
||**Note**||**2024**||_2023_|
|---|---|---|---|---|---|
|||**£**|**£**|**_£_**|**_£_**|
|**FIXED ASSETS**||||||
|Tangible fixed assets|6||**84,646**||_717,713_|
|Fixed asset investments|7||**5,595**||_5,470_|
||||**90,241**||_723,183_|
|**CURRENT ASSETS**||||||
|Stock||**0**||_242_||
|Debtors|8|**7,878**||_13,412_||
|Short term deposits||**744,434**||_33,123_||
|Cash at bank and in hand||**55,264**||_135,899_||
|||**807,576**||_182,676_||
|**CREDITORS: AMOUNTS FALLING**||||||
|**DUE WITHIN ONE YEAR**|9|**(8,404)**||_(11,840)_||
|**NET CURRENT ASSETS**|||**799,172**||_170,836_|
|**TOTAL NET ASSETS**|||**889,413**||_894,019_|
|**FUNDS OF THE CHARITY**||||||
|Expendable endowment funds|11c||**5,595**||_5,470_|
|Restricted funds|11c||**2,574**||_2,574_|
|Unrestricted funds|11c||**881,244**||_260,975_|
|Revaluation reserve|11c||**0**||_625,000_|
|
**TOTAL CHARITY FUNDS**|||**889,413**||**_894,019_**|
Approved by the Parochial Church Council on ……………………………. and signed on its behalf by:
…………………………………………… The Rev’d Dr David Munchin (Chairman)
The notes on the pages following the balance sheet form part of these accounts
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements**
## **For the year ended 31 December 2024**
## **1 ACCOUNTING POLICIES**
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, together with 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 SORP’). The PCC is a public benefit entity within the meaning of the Charities SORP (FRS 102).
The financial statements have been prepared under the historic cost convention, modified by the revaluation of investments and land and buildings, which are shown at fair value.
The presentation currency of the financial statements is the Pound Sterling (£).
## **Going concern**
The Trustees believe that the charity’s financial resources and contingency planning is sufficient to ensure the ability of the charity to continue as a going concern for the foreseeable future, being at least twelve months from the date of approval of these financial statements and therefore have prepared the financial statements on a going concern basis.
## **Funds**
General unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds are those funds that must be spent for restricted purposes and details of the funds held and restrictions are provided in Note 11. Endowment funds, where the capital must be retained, are also explained in Note 11.
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, or those that are informal gatherings of church members.
## **Income and Endowments**
The following gives details of how and when income is included in the Statement of Financial Activities
## _**Donations and legacies**_
Collections are recognised when received by or on behalf of the PCC.
Planned giving receivable under Gift Aid is recognised when received.
Income tax recoverable on Gift Aid donations is recognised when the income is recognised.
Grants, legacies and endowment income are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt is reasonably certain.
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements (continued)**
**For the year ended 31 December 2024**
## **1 ACCOUNTING POLICIES (continued)**
## _**Donations and legacies (continued)**_
Donated services are included in income (and at the same time in resources expended) at the estimated value to the PCC of the service received.
## _**Charitable and other trading activities**_
Rental income from letting church premises is recognised when the rent becomes due. Funds raised by social events are accounted for gross, after the event has taken place. Sales of books and magazines from the church bookstall are accounted for gross, when received.
## _**Income from investments**_
Dividends are accounted for when due and payable. Interest is accounted for when received.
## _**Gains and losses on investments**_
Realised gains and losses are recognised when investments are sold. Unrealised gains and losses are accounted for on the revaluation of investments at 31 December each year.
## **Expenditure**
The financial statements have been prepared under the accruals basis, inclusive of any irrecoverable VAT. Expenditure and any related liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable.
## _**Donations**_
Donations are recognised when a commitment has been made externally.
## _**Other costs**_
Governance costs include the cost of the independent examination of these accounts, the costs of trustee meetings and any legal advice to trustees on governance or constitutional matters.
## _**Pensions**_
The charity contributes to a defined contribution pension scheme for its staff members. Contributions payable to the scheme are charged to the SOFA as incurred.
## **Fixed assets**
## _**Consecrated property and movable church furnishings**_
Consecrated and beneficed property of any kind is excluded from the accounts by section 10(2)(a) and (c) of the Charities Act 2011.
Movable church furnishings held by the Rector and Church Wardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property, unless consecrated. They are listed in the church’s inventory, which can be inspected at any reasonable time. For inalienable property acquired prior to 2001, there is insufficient cost information available and therefore such assets are not valued in the accounts.
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements (continued)**
**For the year ended 31 December 2024**
## **1 ACCOUNTING POLICIES (continued)**
## **Fixed assets -** _**Consecrated property and movable church furnishings**_ **(continued)**
Items acquired since 1 January 2001 have been capitalised and depreciated in the financial statements over their currently anticipated useful economic life on a straight-line basis. All expenditure incurred in the year on consecrated or beneficed buildings, or individual items costing less than £1,000, or on the repair of movable church furnishings acquired before 1 January 2001, is written off when incurred.
## _**Freehold land and buildings**_
Freehold land and buildings owned by the PCC are carried at fair value based on an open market valuation. Any changes in the valuation are recognised in the Statement of Financial Activities.
## _**Other fixtures, fittings and office equipment**_
Equipment used within the church premises is depreciated on a straight-line basis over five years for office equipment and ten years for Church House and church equipment. Individual items of equipment with a purchase price of £250 or less are written off when the asset is acquired. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the Statement of Financial Activities. An impairment review is carried out at each year-end and any resultant loss identified and included in expenditure for the year.
## _**Investments**_
Listed investments are included at market value at the Balance Sheet date.
Net gains/losses arising on the revaluation and disposal of investments are recognised in the Statement of Financial Activities. Income deriving from these investments is accounted for on a receivable basis and is recognised through the Statement of Financial Activities.
## **Current assets**
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors, less a provision for amounts that may prove uncollectable.
Stock is stated at the lower of cost and net realisable value.
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Short term deposits consist of cash held on deposit with the CBF Church of England Funds or other PCC-approved institutions.
## **Financial instruments**
The PCC has elected to apply the provisions of Section 11 'Accounting for financial assets and financial liabilities’ of the Charities SORP (FRS 102) 2019 to all its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity 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 settle the liability simultaneously.
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements (continued)**
**For the year ended 31 December 2024**
## **1 ACCOUNTING POLICIES (continued)**
## **Basic financial assets**
Basic financial assets, which include debtors, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, when the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Government grant income**
Grants from government bodies and other sources are received for specific purposes and are recognised in accordance with their individual terms and conditions. Income is recognised when the charity has entitlement to the funds, which is when any performance conditions attached are met, it is probable that the income will be received and the amount can be reliably measured. Grant income will be deferred if received in advance of meeting performance conditions or if the funder specifically states that the income must be spent in a future accounting period.
## **Operating leases**
Costs in respect of operating leases are charged on a straight line basis over the lease term.
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## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements (continued)**
## **For the year ended 31 December 2024**
|**2**|**INCOME AND ENDOWMENTS**|**Unrestricted**|**Restricted**|**Endowment**|**TOTAL**|_TOTAL_|
|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**2024**|_2023_|
|||**£**|**£**|**£**|**£**|_£_|
|2a|_Donations and Legacies_||||||
||Regular giving|120,637|-||**120,637**|_112,308_|
||One off donations|3,571|-|-|**3,571**|_7,985_|
||Online and card reader donations|11,010|-|-|**11,010**|_12,425_|
||“Open plate” collections at services|6,243|-|-|**6,243**|_6,765_|
||Sundry donations|4,567|-|-|**4,567**|_3,383_|
||Income tax recoverable|33,598|-|-|**33,598**|_31,855_|
||Grants received|250|-|-|**250**|_2,750_|
||Legacies|2,000|3,254|-|**5,254**|_12,417_|
|||181,876|3,254|-|**185,130**|_189,888_|
|2b|_Charitable Activities_||||||
||Fees for Weddings, Funerals etc|10,662|-|-|**10,662**|_9,087_|
||Choir|-|-|-|-|_200_|
||Coffee|1,580|-|-|**1,580**|_1,166_|
||Church groups and activities:||||||
||Arpeggios|-|-|-|**-**|_-_|
||Bell Ringers|836|-|-|**836**|_1,225_|
||Fellowship|465|-|-|**465**|_421_|
||Flowers|4,115|-|-|**4,115**|_2,205_|
||Parish Magazine Sales|5,334|-|-|**5,334**|_4,959_|
|||22,992|-|-|**22,992**|_19,263_|
|2c|_Other trading activities_||||||
||Church and Church House lettings|10,282|-|-|**10,282**|_10,615_|
||St. Michael’s House letting|-|-|-|-|-|
||Fetes, bazaars and other fund-raising events|8,120|-|-|**8,120**|_6,958_|
||Church groups and activities:||||||
||Bookstall|218|-|-|**218**|_465_|
||Fair Trade|-|-|-|-|_984_|
||Parish Magazine Advertisements|8,579|-|-|**8,579**|_7,952_|
|||27,199|-|-|**27,199**|_26,974_|
|2d|_Investments_||||||
||Dividends and interest|4,566|-|152|**4,718**|_2,274_|
|_2e_|_Insurance claim_|985|_-_|_-_|**985**|_-_|
|**TOTAL INCOME AND ENDOWMENTS**||**237,618**|**3,254**|**152**|**241,024**|_238,399_|
- 14 -
## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements (continued)**
**For the year ended 31 December 2024**
|**3**|**EXPENDITURE**|**Unrestricted**|**Restricted**|**Endowment**|**TOTAL**|_TOTAL_|
|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**2024**|_2023_|
|||**£**|**£**|**£**|**£**|_£_|
|3_a_|_Raising funds_||||||
||Fetes, bazaars, other fund-raising events|4,921|-|-|**4,921**|_2,764_|
|_3b_|_Charitable activities_||||||
||Mission giving and donations|8,620|-|-|**8,620**|_8,337_|
||Ministry:||||||
||Diocesan parish share|126,699|-|-|**126,699**|_123,516_|
||Clergy expenses|2,294|-|-|**2,294**|_3,146_|
||Church running expenses:||||||
||Salaries|14,630|-|-|**14,630**|_14,292_|
||Insurance|5,887|-|-|**5,887**|_5,394_|
||Utilities|24,060|-|-|**24,060**|_29,331_|
||Other running costs|4,248|-|-|**4,248**|_3,592_|
||Upkeep of services|7,704|-|-|**7,704**|_7,973_|
||Subcontract costs – verger and organists|9,020|-|-|**9,020**|_10,175_|
||Church maintenance|9,837|-|-|**9,837**|_9,482_|
||Upkeep of churchyard|2,602|-|152|**2,754**|_2,554_|
||Major repairs/replacements|-|-|-|-|-|
||Church House costs|3,191|-|-|**3,191**|_3,641_|
||St Michael’s House, London Road|257|-|-|**257**|_63_|
||Training and Mission|-|-|-|**-**|_-_|
||Youth costs|386|-|-|**386**|_406_|
||Choir expenditure|2,518|-|-|**2,518**|_1,752_|
||Depreciation of New Church House equipment|389|-|-|**389**|_102_|
||Depreciation of Church equipment|9,260|-|-|**9,260**|_8,940_|
||Depreciation of St. Michael’s House equipment|
-|-|-|-|_878_|
||Bank charges|389|-|-|**389**|_428_|
||Independent examination fee|-|-|-|**-**|_-_|
||Church groups and activities costs:||||||
||Arpeggios|-|-|-|**-**|_-_|
||Bell Ringers|576|-|-|**576**|_811_|
||Bookstall|376|-|-|**376**|_531_|
||Fair Trade|-|-|-|**-**|_900_|
||Fellowship|-|-|-|-|_38_|
||Flowers|3,035|-|-|**3,035**|_1,682_|
||Parish Magazine|3,502|-|-|**3,502**|_3,781_|
|||239,480|-|152|**239,632**|_241,745_|
|_3c_|_Other costs – loss on disposal of fixed assets_|1,202|-|-|**1,202**|-|
|
**TOTAL EXPENDITURE**||**245,603**|**-**|**152**|**245,755**|_244,509_|
During the year, two clergy ( _2023: two_ ) were reimbursed expenses totalling £2,294 ( _2023: £3,146_ ), relating mainly to travel and other costs incurred on behalf of church ministry.
- 15 -
## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements (continued)**
## **For the year ended 31 December 2024**
## **4 MISSIONARY AND CHARITABLE GIVING**
The two churches donated £8,620 directly to a variety of charities in the UK and abroad (see table below). In addition, £6,386 ( _2023: £9,583_ ) was raised for charities as a result of fundraising activities organised by the churches.
|Support of disadvantaged people - UK
Support of disadvantaged people - Overseas
Natural disaster appeals - Overseas
**Total donations to Institutions**
**5**
**STAFF COSTS**
Wages and salaries
Social security costs
Other pension costs|**Donations**
**2024**
_2023_
**£**
**_£_**
**3,244**
_3,415_
**5,376**
_4,221_
**-**
_701_|**No. of**
**institutions/**
**individuals**
**2024**
_2023_
**12**
_11_
**9**
_9_
**-**
_2_|**No. of**
**institutions/**
**individuals**
**2024**
_2023_
**12**
_11_
**9**
_9_
**-**
_2_|
|---|---|---|---|
||**8,620**
_8,337_|**21**|_22_|
|||**2024**
**£**
**14,200**
-
**430**
**14,630**|_2023_
_£_
_13,984_
-
_308_|
||||_14,292_|
A voluntary Director of Music was in post and the PCC contracted for the services of a verger and relief organists, who are paid on a contractor basis on presentation of their invoices. No-one on the payroll, nor the verger or relief organists, earned £60,000 pa or more. The average number of employees during the year was 3 ( _2023_ : _2)._
The church operates a defined contribution pension scheme which is available for all staff to join.
There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.
- 16 -
## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements (continued)**
**For the year ended 31 December 2024**
## **6 TANGIBLE FIXED ASSETS**
|**6**
**TANGIBLE FIXED ASSETS**||||||||
|---|---|---|---|---|---|---|---|
|
**ACTUAL COST OR VALUATION**
At 1 January 2024
Additions/disposals
Disposals
At 31 December 2024
**DEPRECIATION**
At 1 January 2024
Charge for the year
Disposals
At 31 December 2024
**NET BOOK VALUE**
_At 31 December 2023_
**At 31 December 2024**|**Freehold**
**land and**
**buildings**
**£**
625,000
-
(625,000)
-
-
-
-
-
_625,000_
**-**|**Office**
**equipment**
**£**
6,985
-
6,985
6,658
69
-
6,727
_327_
**258**|
|**St. Mary’s &**
**St Michael’s Churches**
**Church**
**and St. Michael’s**
**House**
**House**
**equipment**
**equipment**
**TOTAL**
**£**
**£**
**£**
37,034
209,890
878,909
2,765
3,255
6,020
(1,378)
(5,548) (631,926)
38,421 207,597 253,003
35,773
118,765 161,196
389
9,191 9,649
(1,378)
(1,110)
(2,488)
34,784
126,846 168,357
_1,261_
_91,125717,713_
**3,637**
**80,751**
**84,646**||||
|||||
|
||
253,003
161,196
9,649
(2,488)
168,357
_717,713_
**84,646**|
||||||
|||
|||||||||
|||||||||
St Michael’s House, London Road, Woolmer Green, which was used as accommodation for the curate, was sold in the Autumn of 2024. The proceeds of the sale are held in a CCLA CBF Deposit fund account by the diocese, with the intention to purchase a newer property to accommodate future curates.
|**7**
**INVESTMENTS**
**Quoted Investments:**
Investments at 1 January 2024
Unrealised gains – increase in market value
**Balance at 31 December 2024**
Historic cost|**2024**
**£**
**5,470**
**125**
**5,595**
300|_2023_
_£_
_4,996_
_474_|
|---|---|---|
|||_5,470_|
|||_300_|
Represented by 242 _(2023: 242)_ shares in the CBF Church of England Investment Fund.
- 17 -
## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements (continued)**
## **For the year ended 31 December 2024**
## **8 DEBTORS**
|**DEBTORS**|||
|---|---|---|
|
Income tax recoverable
Other debtors
Prepayments and accrued income
|**2024**
**£**
**5,222**
**1,729**
**927**
**7,878**|_2023_
_£_
_6,595_
_1,670_
_5,147_|
|||_13,412_|
## **9 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|
Deferred income
Trade creditors
Accruals
Other creditors|**2024**
**£**
**350**
**387**
**4,378**
**3,289**
**8,404**|_2023_
_£_
-
_3,911_
_4,346_
_3,583_
_11,840_|
|---|---|---|
## **10 FINANCIAL COMMITMENTS**
The future minimum lease payments under non-cancellable operating leases, in respect of other equipment, is as follows:
|Payable within 1 year
Payable between 1 and 5 years|**2024**
**£**
**1,015**
**875**
**1,890**|_2023_
_£_
_955_
_1,830_|
|---|---|---|
|||_2,785_|
## **11 FUND DETAILS**
_11a Analysis of net assets by fund category at 31 December 2024_
|**Unrestricted**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
Fixed Assets for Church use
84,646
-
-
Investment Fixed Assets
-
-
5,595
Current Assets
805,002
2,574
-
Current Liabilities
(8,404)
-
-
**Fund Balances**
**881,244**
**2,574**
**5,595**|**Total**
**£**
84,646
5,595
807,576
(8,404)
**889,413**|
|---|---|
- 18 -
## **Parochial Church Council of the Ecclesiastical Parish of Welwyn and Woolmer Green**
## **Notes to the Financial Statements (continued)**
## **For the year ended 31 December 2024**
## **11 FUND DETAILS (continued)**
- _11b Description of funds_
## Endowment fund
The St Michael’s Churchyard Endowment fund is a permanent endowment that requires income to be spent on the grave of Stanley Victor Sales.
## Restricted funds
|Restricted funds|||
|---|---|---|
|**Fund**|**Purpose of fund– to pay for:**|**Movements during the year**|
|St. Mary’s Memorial
Garden|New tools and gardening equipment|No income or expenditure.|
|St Mary’s Organ|Repair costs|No income or expenditure.|
|St Mary’s Fabric|Fabric expenditure|A legacy of £3,254 was received which
was spent on the new pathway lighting|
## Designated funds
|Designated funds|||
|---|---|---|
|
**Fund**|**Purpose of fund– to pay for:**|**Movements during the year**|
|St Mary’s Reserve|Fabric expenditure and emergency
works|£628 received from the Community
lunches was spent on maintaining the
fabric of the church.|
|Curate’s House
(formerly St Michael’s
House)|Fabric expenditure and emergency
works|£257 was spent on repairs and utility bills
whilst the house was unoccupied.|
|Curate’s House
purchase|For purchase of new property|£628,236 is being held from the sale of St
Michael’s House.|
|St Mary’s commission
for altar frontals and
vestments|Commission using the John
Sainsbury legacy|No income or expenditure.|
|Youth|Youth work|£468 was spent on the Urban Saints
programme and St Mary’s Summer club.|
|St Mary’s Music|Music and choir expenses|£6,470 was received (£5,558 Saturday
recitals and £912 choir donations); £2,305
was spent on new hymn books and choral
scholars.|
|The remaining
designated funds|To provide working capital for
various church groups and activities|See 11c Funds balances and movements
for the year.
The Bookstall designated fund was closed
at the end of the year following the
closure of its Barclays bank account and
the decision to reduce the bookstall
activities.|
- 19 -
## **11 FUND DETAILS (continued)**
_11c Funds balances and movements for the year_
|**Fund Name**|**Opening Balance**
**1/1/24**||**Movements during the year**|**Movements during the year**|**Movements during the year**|**Closing balance**
**31/12/24**|
|---|---|---|---|---|---|---|
|||**In**
**3 236**|**Out**
**0**|**Transfers**
**(628 236)**|**Investment**
**gains**
**0**||
|**REVALUATION RESERVE**|||||||
|St. Michael's House, Woolmer Green|**625 000**|||||**(0)**|
|||**152**|**(152)**|**0**|**125**||
|**ENDOWMENT FUND**|||||||
|St Michaels Church Yard (Sales Grave Trust)|**5 470**|||||**5 595**|
||492
2 082
0|0
0
3 254
**3 254**|0
0
0
**0**|(3 254)
**(3 254)**|**0**|**492**
**2 082**
**0**|
|**RESTRICTED FUNDS**|||||||
|St. Mary's Memorial Garden
St. Mary's Organ
St Mary's Fabric
**TOTAL RESTRICTED FUNDS**|||||||
||**2 574**|||||**2 574**|
||18 350
9 018
3 600
1 565
5 008
0
245
4 353
243
269
3 353
**46 004**
**214 971**
**260 975**|628
0
0
0
6 470
0
836
218
4 115
13 913
**26 180**
**208 202**
**234 382**|(628)
(257)
0
(386)
(2 305)
0
(576)
(376)
(3 035)
(3 502)
**(11 065)**
**(234 538)**
**(245 603)**|628 236
0
(50)
(85)
(1 000)
(10 345)
**616 756**
**14 734**
**631 490**|**0**
**0**
**0**|**18 350**
**8 761**
**3 600**
**1 179**
**9 173**
**628 236**
**245**
**4 563**
**0**
**349**
**3 419**
**677 875**
**203 369**|
|**UNRESTRICTED FUNDS**|||||||
|**Designated:**
St. Mary's Reserve
Curate's House (formerly St. Michael's House)
Commission for altar frontals and vestments at
St. Mary's
Youth
St Mary's Music (formerly Choir)
Curates's House Purchase
**Designated for church groups and**
**activities:**
Arpeggios Hand Bell Ringers
St. Mary's Bell Ringers
St. Mary's Bookstall
St. Mary's Flowers
Parish Magazine
**Total designated**
**General unrestricted ***
**TOTAL UNRESTRICTED FUNDS**|||||||
|||||||**881 244**|
||||||||
|**CHARITY'S TOTAL FUNDS**|**894 019**|241 024|(245 755)|0|125|**889 413**|
||||||||
*** General unrestricted fund breakdown**
|*** General unrestricted fund breakdown**|||
|---|---|---|
||Opening Balance
1/1/24|**Closing**
**Balance**
**31/12/24**|
|Cash|120 686|**119 249**|
|Fixed assets(net book value)|92 713|**84 646**|
|Debtors|13 412|**7 878**|
|Liabilities|(11 840)|**(8 404)**|
|**TOTAL**|**214 971**|**203 369**|
- 20 -