THE PARISH OF ST LAWRENCE WITH ST SWITHUN-UPON-KINGSGATE WINCHESTER
TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS 2025
ST LAWRENCE WITH ST SWITHUN-UPON-KINGSGATE WINCHESTER ANNUAL REPORT 2025
Introduction
This is the annual report of the charity whose full name is “The Parochial Church Council of the Ecclesiastical Parish of St Lawrence with St Swithun-upon-Kingsgate, Winchester”, registered with the Charity Commission, number 1130543. The parish calls itself “St Lawrence with St Swithun” for short, and the charity’s working name is “St Lawrence with St Swithun PCC”. The word “with” in our name signifies that we are one parish comprising two churches.
The parish of St Lawrence with St Swithun-upon-Kingsgate is joined in a united benefice, called the “Three Saints Benefice”, with the parish of St Bartholomew, Hyde, Winchester; however, the two parishes’ PCCs are distinct charities.
Aim and Purposes
The general functions of every Church of England parochial church council (PCC) are prescribed by law:
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(1) It shall be the duty of the minister and the parochial church council to consult together on matters of general concern and importance to the parish.
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(2) The functions of parochial church councils shall include –
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(a) co-operation with the minister in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical;
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(b) the consideration and discussions of matters concerning the Church of England or any other matters of religious or public interest, but not the declaration of the doctrine of the Church on any question;
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(c) making known and putting into effect any provision made by the diocesan synod or the deanery synod, but without prejudice to the powers of the council on any particular matter;
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(d) giving advice to the diocesan synod and the deanery synod on any matter referred to the council;
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(e) raising such matters as the council consider appropriate with the diocesan synod or deanery synod;
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(f) appointing sidesmen (who are also known as assistants to the churchwardens).
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(3) In the exercise of its functions the parochial church council shall take into consideration any expression of opinion by any parochial church meeting.[ 1]
St Lawrence with St Swithun PCC is also specifically responsible for the maintenance of St Lawrence Church (a Grade II listed building), St Swithun-uponKingsgate Church (Grade I listed), and St Lawrence Parish Room and Parish Office, which are on a different site from the churches.
1 Parochial Church Councils (Powers) Measure 1956, as amended, section 2.
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Objectives and Activities
When planning our activities, the Rector and the PCC have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. Our parish’s services and worship put faith into practice through prayer and scripture, music and sacrament. We try to enable ordinary people to encounter the transformational love of God through:
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Worship and prayer: learning about living the Gospel; and developing our knowledge of and trust in Jesus.
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Provision of pastoral care for people living in the parish and for our gathered members living elsewhere.
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Missionary and outreach work, supporting the Winchester Street Pastors and City Centre Chaplaincy, as well as numerous local groups and charitable organisations that offer help to the needy and vulnerable.
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Offering space for peace and prayer in the busy city centre, by opening both our historic churches to all who wish to enter, free of charge, every day of the year (except for special events and unavoidable closures for maintenance).
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Facilitating social, educational and support activities in the community throughout the week, by making the Parish Room available for hire.
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Contributing to the cultural life of the city by hosting concerts and other events.
To facilitate this work it is important that we maintain the fabric of our two churches and the Parish Room.
Achievements and Performance
The commitment and contributions, both voluntary and financial, of the many members of our congregations of St Lawrence and St Swithun continue to underpin all we do. This includes supporting mission across the Diocese through the Common Mission Fund, maintaining our buildings, funding our own mission and ministry, and providing administrative support for benefice activity.
We have continued to support the Ministry Team in their work across the benefice’s parishes and community, its nursing home and church school (St Bede), and other social and voluntary groups. In 2025 the parish was pleased to increase its support for the ministry of the City Centre Chaplaincy, by offering the use of St Lawrence for the Chaplaincy’s new bi-monthly Listening Service and monthly TakeTime Meditation.
In 2025, the Revd Malcolm Bruce was ordained priest and the Revd Amanda Goulding continued to offer her ministry with Permission to Officiate. Johan van Biljon embarked upon the discernment process for ordination, the outcome of which will be known in April 2026. Besides the ordained members of the Ministry Team, the parish is blessed to have several lay volunteers available to lead our worship, giving it richness as well as sustainability.
Our team of Pastoral Visitors continue their greatly appreciated visits to the housebound, and we continue to live-stream most services. This enables us to maintain contact with parishioners who are unable to attend church and also with some people who have moved away but are able to join remotely. In normal times we keep both of our historic church buildings open daily. This is a significant witness and service to the thousands of visitors and to residents in the city, and the visitors’ books reveal just how much it is appreciated.
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St Lawrence with St Swithun PCC Annual Report 2025
Deanery Synod
Two parishioners were elected by the 2023 annual parochial church meeting to be lay members of the Winchester Deanery Synod for a three-year term. One of those members resigned a year later. Elections for the new triennium will be held at the 2026 APCM.
Members of the Deanery Synod are ex-officio members of the PCC, providing an important link between the parish and the wider structures of the Church of England.
Financial Review
Overview:
Although the 2025 financial results indicate an operating deficit of some £13.4k as against an operating surplus of £2.4k in 2024, this is almost wholly attributable to the cost of major roof repairs including replacement of glass required to stop the entry of rainwater. Other inflationary costs also arose which were not covered by income receipts. A substantial in-memoriam donation was received which greatly assisted in financing the new sound system at St Swithun’s Church, installed towards the year end. The uncertainties in financial markets were reflected by a 2.8% reduction in the valuation of parish investments, which absorbed the 2.2% increase achieved in 2024.
The outlook for 2026 continues to remain uncertain due to known cost increases likely to exceed our ability to increase income. Whilst this is a concern, it does not pose an immediate threat either to our resilience or our sustainability.
Unrestricted (General) Fund
A General Fund deficit of £15.3k arose which represents a very substantial adverse movement from the surplus of £7.8k in the Fund in 2024. However, that surplus had arisen because a substantial proportion of the maintenance and project expenditure in 2024 was covered by restricted fund income. A better comparison can be made by considering the deficit of £18k which had arisen in the previous year (2023).
General Fund income in 2025 of £148k was only marginally less than the £149k achieved in 2024. However, expenditure of £163k exceeded the 2024 level of £141k. This arose from a number of areas, including inflationary increases in utility costs, salaries, CMF contributions, maintenance costs and depreciation charges. Charitable giving expenditure was also increased modestly.
Restricted Funds:
These comprise funds raised for Special Appeals/Projects and other purposes which are available solely for the specified areas for which they were donated. The total amount received in 2025 was £29,352 (2024- £13,882) . Total expenditure in 2025 amounted to £27,384 (2024-£19,266) leaving a closing balance of £4,282 (2024£2,314) available for future restricted expenditure. The individual appeals, projects and remaining year end balances are listed in the Financial Statements (Note 8).
Designated Funds:
The adverse movement of £13,731 in the Designated Fund reflects the reduction in investment values due to market movements in 2025. This was a modest reduction
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when viewed against the recent increases in investment values of £10,621 achieved in 2024 and £41,748 in 2023. It is recognised that some price volatility occurs in financial markets, but is of less concern as our investments are held for the long term and primarily for the consistent levels of income received annually, which we require to meet current expenditure. It is recognised that these investments may have to be realised ultimately to meet significant maintenance or other costs which cannot be otherwise funded.
Parish Funds:
The net assets at 31 December 2025 reflect a decrease of around 4.14% (2024-2.4% increase) due to the deficit for the year and the reduction in investment values during 2025. The total asset position continues to be satisfactory, being represented to a significant extent by listed investments whose value is dependent on the continuing strength of financial markets. These investments form the whole of the Designated and the Endowment Funds. The General Fund assets include tangible assets, current assets less liabilities, cash balances and short-term deposits. The endowment fund comprises both investments held directly and also those held in trust for the Parish by the Diocese, which are not realisable by the PCC whilst being entitled to the associated income.
Charitable Giving:
An aggregate of £11,813 (2024 £11,000) was distributed to a number of local, national and UK charities with overseas operations. Full details are shown in the Parish Review 2025. Annual grants of £2,100 (2024 £1,800) were made to the Winchester City Centre Chaplaincy and £800 (2024 £800) to the Winchester Street Pastors. These Financial Statements exclude amounts raised for and paid directly to the organisations shown in Note 13. These totalled £9,595 in 2025 (2024 - £8,585) .
2026 Outlook:
The 2026 budget anticipates a further deficit of around £19k which reflects the continuing maintenance expenditure required in our Churches and the increase in recurring operating expenditure arising from costs most affected by inflation including utilities and salaries. Expenditure also includes a significant increase of £8k in the Common Mission Fund payments to the Diocese arising from a reclassification of the Parish’s contribution band on which the payments are based. The budget assumes a similar level of charitable giving and grants. Income levels are expected to be maintained as modest increases in church and parish room hire rates have been implemented while Giving levels which form the greatest component of parish income are expected to be maintained (other than the significant in-memoriam donation received in 2025) whilst recognising that totals are vulnerable to changes in parishioner numbers and circumstances. It is recognised that unbudgeted costs may also arise if additional works become necessary in order to ensure the condition of the buildings fabric is maintained as advised by the architect following the Quinquennial inspections in late 2024.
Reserves Policy
Total Funds at 31 December 2025 of £824,578 (2024 - £860,111) comprised the General (Unrestricted) Fund £40,310 (2024 - £55,687 ), the Designated (Unrestricted) Investment Fund £553,067 (2024 - £566,798, the Restricted Fund £4,282 (2024 - £2,314) and the Endowment Fund £226,919 (2024 - £235,312) .
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St Lawrence with St Swithun PCC Annual Report 2025
Unrestricted Funds are available for the general purposes of the PCC while use of the Restricted funds is limited to the specific uses intended by their donors. The Endowment fund is held in perpetuity although its income is available to the PCC. The Designated Investment Fund comprises investments held for the long term in listed pooled funds selected to provide regular income needed for the PCCs general purposes. The funds are available if necessary to meet major repair costs and major mission initiatives.
The suitability of the investments including adequacy of income distribution, ESG characteristics and risk profile is monitored and adjustments made if necessary.
The free reserves of £22,000 comprise the unrestricted general fund of £40,310 as reduced by working capital requirements and functional assets. Although substantially below the target amount of £75,000, the use of investment funds would provide a source of finance in case of any significant requirement that could not be met from other sources including fund raising and grants. When necessary, funds may be drawn down to cover additional costs that arise from time to time.
Like many charities, the parish of St Lawrence with St Swithun-upon-Kingsgate holds investments designed to provide a regular income, without which it would simply be unable to fulfil all its charitable aims and objectives.
The Reserves Policy recognises that the PCC has contractual liabilities for salaries, rent and utilities together with obligations for Common Mission Fund contributions and other regular payments totalling some £100,000 annually. Uncertainty of longer-term income levels and unexpected maintenance costs represent a risk which the PCC would seek to manage as necessary by use of investment funds and fund raising etc.
The Reserves Policy of the PCC is to maintain adequate funds on deposit to cover at least three months average running costs and to enable unanticipated major maintenance at either or both of the historic listed churches to be carried out expeditiously so as to ensure regular parish services can be maintained without extended periods of closure.
Currently, three months’ expenditure is some £40,000 and allowing for major maintenance and other unspecified costs of £35,000 would require reserves of £75,000. Currently the free reserves amount to £22,000 which is substantially below the target amount, but it is envisaged that investment capital would be realised as necessary to help fund activities and ensure sustainability.
Volunteers and Staff
We would like to thank all the many volunteers who work so hard for our parish. In particular we want to thank our churchwardens Beauman Chong, John Stanning and Tom Nell who replaced John when he stood down in June 2025. Thanks also to our Treasurer Nick Goulding who has kept our finances in order, assisted by Bethany Milward, Assistant Treasurer and Gift Aid Officer; and Lis Wicks who is Secretary to the PCC. We are also very grateful to those on our payroll: our invaluable Parish Administrator Sara Gangai, and our organists Christopher Tolley, Luke Fowler (who moved away in the early autumn) and Ian Parker (who joined in November 2025).
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Structure, governance and management
The method of appointment of PCC members is set out in the Church Representation Rules,[2] which provide that the PCC consists of ex-officio members – the ordained clergy and lay workers licensed to the parish, the elected churchwardens, parishioners elected to the Deanery Synod, Diocesan Synod or General Synod – and other members elected by members of the congregation who are on the electoral roll of the parish. All those who attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC.
The PCC is 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.
The PCC met five times in 2025 with average attendance of 12 members.
Safeguarding
The PCC has complied with its duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults). The PCC has adopted a Safeguarding Policy Statement including the appointment of a Parish Safeguarding Officer who deals with safeguarding matters in conjunction with the Rector, the Diocesan Safeguarding Officer and other authorities as required.
Administrative information
The parish of St Lawrence with St Swithun-upon-Kingsgate is located in the centre of Winchester, Hampshire. It is part of the Deanery of Winchester and the Diocese of Winchester, within the Church of England. The correspondence address is St Lawrence Parish Office, Colebrook Street, Winchester, SO23 9LH.
The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2020) and a charity registered with the Charity Commission, number 1130543. PCC members who have served from 1[st] January 2025 until the date this report was approved were:
| approved were: | |
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| Rector: | The Reverend Karen Kousseff_(chair)_ |
| Hon. Associate Priest: | The Reverend Amanda Goulding |
| Curate: | The Reverend Malcolm Bruce |
| Churchwardens: | Mr Beauman Chong |
| Mr John Stanning_(to June 2025)_ | |
| Mr Tom Nell_(from June 2025)_ | |
| Deanery Synod member: | Mr Nicholas Goulding |
| Elected members: | Miss Elizabeth Baron |
| Mrs Anna Bennetts | |
| Mr Geoffrey Bennetts | |
| Mr Chris Higgins |
2 The Church Representation Rules are contained in Schedule 3 to the Synodical Government Measure 1969, as amended in 2020.
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5t Lowrence with St Swithun PCC Annual Report 2025 Mrs Louise Kerr Mrs Clare Kilroy Miss Bethany Milward (fron7 April 2025) Mr Tom Nell (to June 2025) Mr John Stanning (from June 2025) Mr Richard Stead Honorary Treasurer." Mr Nicholas Goulding Hon. Secretary to the PCC.. Miss Elisabeth Wicks Statlstlcs At 31 December 2025, 88 people were on the parish's electoral roll, of whom 23 were resident within the geograph7cal parish and 65 were resident in other parishes. The average Sunday attendance at our churches, counted in October, was 59 in the churches plus 15 online. 115 people attended our services on Christmas Eve and Christmas Day. The Ministry Team conducted 3 baptisms, 2 marriages, O services of prayer & dedication following a civil marriage, 1 funeral in church or at crematoria, and O burials of ashes. 2 people were confirmed. Approved by the PCC on 19th March 2026 and signed on their behalf by the Reverend Karen Kousseff (chair)
Examination Statement
Independent Examiner's Report to the members of the Parochial Church Council of the Parish of St Lawrence with St Swithun-upon-Kingsgate, Winchester
I report on the accounts for the year ended 31 December 2025 which are set out on pages 9 to 18.
Respective responsibilities of the Parochial Church Council and Independent Examiner
The Parochial Church Council considers that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement
My examination was carried out in accordance with the General Directions given by the Charity Commission.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the accounts.
Independent Examiner's Statement
In connection with my examination, no matters have come to my attention
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which give me reasonable cause to believe that in any material respect the requirements • to keep accounting records in accordance with s.130 of the 2011 Act; or
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to prepare accounts which accord with these accounting records have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Tim Light FMAAT, AATQB Licence Number 8057 Lightatouch 7 Hodder Close Chandlers Ford Hants SO53 4QD
4Y L iaii sx
| 2024 £ 106,688 3,261 22,953 29,999 - |
162,901 | 160,454 - |
160,454 | 2,447 - 17,381 |
19,828 | - | 19,828 840,283 |
860,111 | |
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted Designated Restricted Endowment Funds Funds Funds Funds £ £ £ £ 93,054 - 13,634 - 3,013 - 248 - 22,953 - - - 29,999 - - - - - - - |
149,019 - 13,882 - |
141,188 - 19,266 - - - - - |
141,188 - 19,266 - |
7,831 - -5,384 - - - - - - 10,621 - 6,760 |
7,831 10,621 -5,384 6,760 |
-50 - - 50 |
7,781 10,621 -5,384 6,810 47,906 556,177 7,698 228,502 |
55,687 566,798 2,314 235,312 |
|
| 2025 £ 118,195 2,723 23,041 30,133 3,292 |
177,384 | 190,743 - |
190,743 | -13,359 - -22,174 |
-35,533 | - | -35,533 860,111 |
824,578 | |
| Unrestricted Designated Restricted Endowment Funds Funds Funds Funds £ £ £ £ 92,135 - 26,060 - 2,723 - - - 23,041 - - - 30,133 - - - - - 3,292 - |
148,032 - 29,352 - |
163,359 - 27,384 - - - - - |
163,359 - 27,384 - |
-15,327 - 1,968 - - - - - - -13,731 - -8,443 |
-15,327 -13,731 1,968 -8,443 |
-50 - - 50 |
-15,377 -13,731 1,968 -8,393 55,687 566,798 2,314 235,312 |
40,310 553,067 4,282 226,919 |
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| Note INCOME AND ENDOWMENTS Donations and legacies 2(a) Activities for generating funds 2(b) Investments 2(c) Church activities 2(d) Other Income 2(e) TOTAL INCOMING RESOURCES |
EXPENDITURE Church activities 3(a) Raising Funds 3(b) TOTAL RESOURCES EXPENDED |
NET INCOME/EXPENDITURE - before investment gains NET GAIN/(LOSS) ON INVESTMENTS - realised gains at 31st December 2025 5.2 - unrealised at 31st December 2025 5.2 NET INCOME/EXPENDITURE Transfer between Funds 12 |
NET MOVEMENT IN FUNDS Total Funds brought forward |
TOTAL FUNDS carried forward |
Parochial Church Council of Winchester St Lawrence with St Swithun-upon-Kingsgate
Parochial Church Council of Winchester St Lawrence with St Swithun-uponKingsgate
Notes to the Financial Statements for the year ended 31[st] December 2025
1. Accounting Policies
Basis of preparation. The Financial Statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s). The Financial Statements have been prepared in accordance with the Charities SORP (FRS 102) (second edition – October 2019) – 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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the Church Accounting Regulations 2006 governing the individual accounts of PCCs.
The PCC constitutes a public benefit entity as defined by FRS 102.
The Financial Statements include all transactions, assets and liabilities, for which the PCC is responsible in law. They do not include the accounts for church groups that owe their main affiliation to another body or those that are informal gatherings of church members.
1.1. Funds
Unrestricted (General) 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. Designated Funds are unrestricted funds which the PCC have designated for particular purposes or objectives.
Restricted Funds represent donations received which were intended by the donor to be applied for a specific purpose, and may therefore be spent only on that purpose. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. Details of the funds held and restrictions provided are shown in note 8.
Endowment Funds are funds, the capital of which must be retained; only income arising from investment of the endowment may be used, either as restricted or unrestricted funds, depending on the purpose for which the endowment was established. At 31[st] December 2025 the endowment fund was the St Maurice Church Hall Fund (see note 9).
1.2. Income and Endowments
All incoming resources are accounted for gross.
Voluntary income and capital sources
Collections are recognised when received by or on behalf of the PCC.
Planned Giving under Gift Aid is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised: tax refunds claimed are therefore recognised when the donations are received, outstanding refunds receivable being included in debtors.
Grants and legacies are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable, and its ultimate receipt by the PCC is reasonably certain. Funds raised through special fund-raising activities, and sales of Parish Magazines, postcards, etc. are accounted for gross, with costs arising charged under the appropriate expense heading and included under Expenditure.
Other income
Rental income from lettings of the Parish Room, and amounts charged for the use of the churches for rehearsals, concerts and similar events, are recognised when the rental and charges fall due. Income from investments
Dividends, and interest on fixed interest securities are accounted for when declared payable. Interest on short term deposits and bank accounts is accounted for as it accrues. Gains and losses on investments
This includes any realised gains or losses on sale of investments and any unrealised gains or losses resulting from revaluing investments to fair value at the end of the year. Volunteer Help
The value of any volunteer help received is not included in the Financial Statements but is described in the Trustees' Annual Report.
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Parochial Church Council of Winchester St Lawrence with St Swithun-upon-Kingsgate
1.3. Expenditure
Expenditure on church activities:
Missionary and Charitable Giving
Grants and donations made to charitable organisations are accounted for when approved by the PCC or as subsequently agreed to be accrued.
Ministry – Common Mission Fund
Contributions made to the Diocesan Common Mission Fund are accounted for when due. Any amount unpaid at the end of the accounting period is accrued and included in the balance sheet in creditors. (2025 and 2024 £nil).
Other Expenditure
All other expenditure is generally recognised when it is incurred and is accounted for gross.
1.4. Fixed assets
Consecrated property and moveable church furniture
Consecrated and benefice property of any kind is excluded from the financial statements in accordance with s 10(2)(a) and (c) of the Charities Act 2011.
Moveable church furnishings are capitalised at cost and depreciated over their useful economic life on a straight-line basis other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Churches' inventories.
Expenditure on individual items costing under £1,500 or on the repair or replacement of movable church furnishings is written off as incurred.
Tangible fixed assets for use by charity
Individual items of equipment used within the churches and the Parish Room at a cost of £1,500 or more are capitalised and depreciated in the financial statements over their useful economic life on a straight line basis. Items costing less than £1,500 or the repair or replacement of existing assets are written off when the expenditure is incurred. No depreciation is provided until an asset is brought into use.
Depreciation rates applied
| Improvements to Parish Room buildings | 10% p.a. |
|---|---|
| Computer equipment |
33% p.a. |
| Inalienable property in the churches |
10% p.a. |
| Other fixtures, fittings and equipment | 20% p.a. |
1.5. Investments
Investments listed on a recognised stock exchange or whose value derives from them (Common Investments Funds, Unitised Funds etc) are included at the yearend published market value (or bid price where dual pricing applies).
1.6. Current assets and liabilities
Amounts owing to the PCC at 31[st] December in respect of fees, rent or other income and Gift Aid claims are included in debtors (net of provision for amounts that may prove uncollectable). Short term deposits include deposits held with the CCLA CBF Church of England Deposit Fund and CAF Bank.
Prepayments include amounts paid in advance. Creditors include accrued expenses which relate to the financial year.
1.7. Fund balances
The net assets of the PCC at 31[st] December 2025 amounting to £824,578 are represented by the combined balances on the Unrestricted Fund of £40,310, the Designated Fund of £553,067, the Restricted Fund of £4,282 and the Endowment Fund of £226,919 as shown in the balance sheet.
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Parochial Church Council of Winchester St Lawrence with St Swithun-upon-Kingsgate
2. Income and Endowments
| 2a Donations and Legacies Planned Giving: Tax Efficient donations Income Tax recoverable Other Collections at services Church boxes Other donations Legacies 2b Other trading activities Magazine advertising revenue and subscriptions Sundry Sales Fund raising 2c Investments Dividends Interest 2d Church activities Parish room letting Use of churches for rehearsals/concerts St Thomas churchyard rent Parochial fees 2e Other income LPoWSRS Grant Total Income |
Total Funds Unrestricted Restricted 2025 2024 Funds Funds £ £ £ £ 78,008 4,260 82,268 89,174 2,944 750 3,694 5,488 1,445 - 1,445 1,340 82,397 5,010 87,407 96,002 2,810 - 2,810 2,736 2,145 - 2,145 2,143 4,783 21,050 25,833 4,557 - - - 1,250 92,135 26,060 118,195 106,688 1,863 - 1,863 2,133 138 - 138 - 722 - 722 1,128 2,723 - 2,723 3,261 21,513 - 21,513 21,171 1,528 - 1,528 1,782 23,041 - 23,041 22,953 23,019 - 23,019 22,061 1,165 - 1,165 738 5,400 - 5,400 5,400 549 - 549 1,800 30,133 - 30,133 29,999 - 3,292 3,292 - - 3,292 3,292 - 148,032 29,352 177,384 162,901 |
|---|---|
All 2024 Income was unrestricted except planned giving (£11,200) and donations (£235) together with related gift aid claims (£2,199).
3. Expenditure
| Note 3a Church activities Missionary and charitable giving: Overseas Missionary Societies Relief and development agencies Home mission and other Winchester City Centre Chaplaincy and Street Pastors Total amounts given to charities Ministry – Diocesan Common Mission Fund – Other ministry costs Church running expenses Depreciation of fixed assets 5.1 |
Total Funds Unrestricted Restricted 2025 2024 Funds Funds £ £ £ £ 720 - 720 682 2,880 - 2,880 2,728 8,008 205 8,213 7,590 11,608 205 11,813 11,000 2,975 - 2,975 2,675 14,583 205 14,788 13,675 62,055 - 62,055 59,267 306 - 306 497 19,826 753 20,579 15,851 3,604 - 3,604 779 |
|---|---|
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Parochial Church Council of Winchester St Lawrence with St Swithun-upon-Kingsgate
| Parish room running expenses & major repairs Churches major repairs Printing, photocopying, stationery, postage, telephone 4 Staff salaries 4 Other costs Legal and professional Independent Examiner's fee Total resources expended on church activities 3b Fund raising trading costs Total Expenditure |
5,289 - 5,289 5,543 27,227 26,426 53,653_35,463_ 4,456 - 4,456 5,149 20,361 - 20,361 19,920 4,616 - 4,616 3,371 186 - 186 114 850 - 850 825 163,359 27,384 190,743 160,454 - - - - 163,359 27,384 190,743 160,454 |
|---|---|
All 2024 expenditure was unrestricted except major repairs (£18,786) and church running expenses (£480).
4. Staff Costs etc.
During the year the PCC employed a parish administrator, three organists and a cleaner (all part time). Expenses incurred by the Rector, the Honorary Associate Priest, Curate and the Licenced Lay Ministers, reimbursed or paid on their behalf during the year, are included in other ministry costs (see 3a). No members of the PCC received any payments from the Parish in the year other than in respect of the reimbursement of minor expenses incurred by them wholly or exclusively in connection with the work of the churches and no disclosable transactions were made in respect of PCC members, persons connected with them or other related parties.
A small immaterial portion of the expenses paid to the Rector may have related to their services as chair of the PCC.
Staff costs are stated after deduction of NIC Employment allowance and include pension scheme contributions of £411 (2024 £381). The Organists’ salaries net of parochial fees and the Cleaner’s salary (£4,509 and £2,095 respectively) are included in Church running expenses.
5. Fixed Assets
5.1. Tangible Fixed Assets
| Cost At 1stJanuary 2025 Additions/(disposals) At 31stDecember 2025 Depreciation At 1stJanuary 2025 Charge for the year At 31stDecember 2025 Net Book Value At 31st December 2025 At 31stDecember 2024 |
Office Parish Room St Lawrence Total Equipment Improvements and Equipment Sound System Assets £ £ £ £ 3,627 10,616 10,072 24,315 - - - - |
|---|---|
| 3,627 10,616 10,072 24,315 |
|
| - 10,257 420 10,677 725 359 2,520 3,604 |
|
| 725 10,616 2,940 14,281 |
|
| 2,902 - 7,132 10,034 |
|
| 3,627 359 9,652 13,638 |
14
Parochial Church Council of Winchester St Lawrence with St Swithun-upon-Kingsgate
5.2. Investment Assets
| 5.2. Investment Assets | |||||||
|---|---|---|---|---|---|---|---|
| Total Funds | |||||||
| Units | Designated | Endowment | 2025 | 2024 | |||
| Held | |||||||
| (number) | |||||||
| £ | £ | £ | £ | ||||
| Investments at market value at 31st | |||||||
| December 2025: | |||||||
| Designated: | |||||||
| CCLA CBF Investment Fund | 16,515.34 | 366,613 |
- | 366,613 |
381,879 |
||
| CCLA COIF Ethical Investment Fund | 10,035.20 | 29,447 |
- | 29,447 |
31,035 |
||
| IFSL CAF ESG Cautious Fund | 111,392.12 | 111,481 |
- | 111,481 |
107,360 |
||
| CCLA CBF Investment Fund (St | 652.00 | 14,473 |
- | 14,473 |
15,076 |
||
| Thomas) * | |||||||
| CCLA COIF Ethical Investment | 4,769.36 | 13,995 |
- | 13,995 |
14,750 |
||
| CCLA CBF Property Fund | 13,555.07 | 17,058 |
- | 17,058 |
16,698 |
||
| Endowment – St Maurice Church | |||||||
| Hall: | |||||||
| CCLA CBF Investment Fund * | 8,001.25 | - |
177,614 |
177,614 | 185,011 |
||
| CCLA COIF Ethical Investment Fund | 9,395.23 | - |
49,305 |
49,305 |
50,301 |
||
| 553,067 | 226,919 |
779,986 |
802,110 |
||||
| Movements in investments during | |||||||
| the year: | |||||||
| Market value as at 1stJanuary 2025 | 566,798 | 235,312 |
802,110 |
784,679 |
|||
| Purchases at cost | - | 50 |
50 |
50 |
|||
| Disposals Proceeds | - | - | - |
- |
|||
| Realised gain on disposals | - | - | - |
- |
|||
| Unrealised gain/(loss) on revaluation at | |||||||
| 31stDecember 2025 | (13,731) | (8,443) |
(22,174) |
17,381 |
|||
| Market value as at 31st December | |||||||
| 2025 | **553,067 ** | 226,919 |
779,986 | 802,110 |
- Investments in the name of Winchester Diocesan Board of Finance and income mandated to the Parish
6. Current Assets
| 6. Current Assets | |
|---|---|
| Debtors and prepayments Debtors – tax recoverable on Gift Aid donations – users of Parish Room & St Lawrence – sundry debtors Prepayments Short Term Deposits CBF deposit account CAF Cash deposit account Cash at bank and in hand CAF Current account Current account Total Current Assets |
Total Funds Unrestricted Restricted Endowment 2025 2024 Funds Funds Funds £ £ £ £ 313 - - 313 318 1,554 - - 1,554 2,670 1,678 - - 1,678 863 235 - - 235 - |
| 3,780 - - 3,780 3,851 |
|
| 20,337 - - 20,337 19,456 8,697 4,282 - 12,979 29,265 |
|
| 29,034 4,282 - 33,316 48,721 |
|
| 108 - - 108 100 1,138 - - 1,138 1,417 |
|
| 1,246 - - 1,246 1,517 |
|
| 34,060 4,282 - 38,342 54,089 |
15
Parochial Church Council of Winchester St Lawrence with St Swithun-upon-Kingsgate
7. Liabilities – amounts falling due within one year
| Creditors and Accruals Creditors and accruals Total Liabilities |
Total Funds Unrestricted Restricted Endowment 2025 2024 Funds Funds Funds £ £ £ £ 3,784 - - 3,784 9,726 |
|---|---|
| 3,784 - - 3,784 9,726 |
8. Restricted Funds
| 2025 Special Projects Funds: Upkeep of St Swithun Fabric Children’s and Family Work Fabric St Lawrence Organ Covid-19 Support Projects 2024 Special Projects Funds: Upkeep of St Swithun Fabric Children’s and Family Work St Lawrence Fabric St Lawrence Organ Covid-19 Support Projects |
1st January 2025 Incoming Resources Resources Expended Transfers 31st December 2025 £ £ £ £ £ 236 - 236 - - 263 - - - 263 745 29,352 26,490 - 3,607 865 - 453 - 412 205 - 205 - - |
|---|---|
| 2,314 29,352 27,384 - 4,282 |
|
| 1st January 2024 Incoming Resources Resources Expended Transfers 31st December 2024 £ £ £ £ £ 236 - - - 236 238 25 - - 263 5,674 13,857 18,786 - 745 1,345 - 480 - 865 205 - - - 205 |
|
| 7,698 13,882 19,266 - 2,314 |
The Special Projects Funds comprise individual appeals or donations for specified purposes mainly connected with church maintenance projects and payments to local charities and organisations re Covid19 support.
9. Endowment Fund
The Endowment Investments are held in trust for the Parish by Winchester Diocesan Board of Finance. Originally the proceeds of the sale of St Maurice Church Hall, the monies are invested with the CCLA CBF Church of England Investment Funds and the CCLA COIF Ethical Investment Fund. Although the capital is not expendable, there are no restrictions on expenditure of income from these funds.
10. Designated Fund
The carrying value of the Investments are held within the designated unrestricted investment fund. The fund is intended to be held for the long term as its investments provide both a regular income and, where necessary, can be used to finance significant major repair, maintenance and mission costs in future years.
16
Parochial Church Council of Winchester St Lawrence with St Swithun-upon-Kingsgate
11. Analysis of Net Assets by Fund
| 2025 Fixed assets Investments Current assets Current liabilities 2024 Fixed assets Investments Current assets Current liabilities |
Total Funds General Designated Total Unrestricted Restricted Endowment 2025 2024 £ £ £ £ £ £ 10,034 - 10,034 - - 10,034 13,638 - 553,067 553,067 - 226,919 779,986 802,110 34,060 - 34,060 4,282 - 38,342 54,089 -3,784 - -3,784 - - -3,784 -9,726 |
|---|---|
| 40,310 553,067 593,377 4,282 226,919 824,578 860,111 |
|
| Total Funds General Designated Total Unrestricted Restricted Endowment 2024 2023 £ £ £ £ £ £ 13,638 - 13,638 - - 13,638 718 - 566,798 566,798 - 235,312 802,110 784,679 49,037 - 49,037 5,052 - 54,089 60,307 -6,988 - -6,988 -2,738 - -9,726 -5,421 |
|
| 55,687 566,798 622,485 2,314 235,312 860,111 840,283 |
12. Transfer from Unrestricted Funds to Endowment Fund
The St Maurice Church Hall was sold in 1976. The Charity Commission sanctioned expenditure from the proceeds on the construction of the Parish Room at a maximum capital cost of £14,227 to be recouped from the unrestricted income of the PCC by means of a yearly sum of £49.80 to be invested in the Endowment Fund for a period of 60 years (to 2036). The Parish Room is held by the PCC on a 99 year lease expiring in June 2075.
13. Collections for Charities
Collection and donations made during the year on behalf of charities and paid directly over to those charities which do not form part of the incoming resources of the PCC and are not included in these financial statements. The amounts and beneficiary charities, listed below for information purposes only, are as follows:
| Harvest – Basics Bank Christian Aid Week Collections * Kisiizi Orphans - Ikona Hillside School DEC Myanmar Earthquake Appeal Christmas Star Talk – Basics Bank DEC Middle East Appeal Winchester Hospice – Recycle Sunday |
2025 2024 £ £ 4,140 3,000 1,690 1,493 1,615 1,024 1,150 - 1,000 - - 1,264 - 1,804 |
|---|---|
| 9,595 8,585 |
*Christian Aid Week Collections were from the Benefice of St Bartholomew and St Lawrence with St Swithun-upon-Kingsgate. The amount from each Parish is unquantifiable.
The above amounts exclude any tax recoverable under Gift Aid by the charities concerned.
14. Capital Expenditure Commitments
Commitments for expenditure authorised by the PCC and entered into before 31[st] December 2025 amounted to £nil (2024 £nil although a number of matters had been agreed at 31[st] December 2024 subject to satisfactory quotations).
No provision has been made in these financial statements for the expenditure on repairs identified as
17
Parochial Church Council of Winchester St Lawrence with St Swithun-upon-Kingsgate
requiring to be carried out during the Quinquennial inspections made in each of the Churches in November 2024. Some of the work was carried out in 2025 and further work will take place in 2026. The extent of expenditure required to complete the remaining works has not been ascertained but it is planned to carry these out in stages and complete all repairs, if possible, before the next quinquennial inspection in late 2029.
18