THREE UNITED PARISHES OF ST MAGNUS THE MARTYR
wrrH ST MARGARET AND ST MICHAEL
REGISTF.RED CHARITY NO. 113059
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2025
KNOX CROPPER
chartered 3ccounl8nts

ED PARI,SHES OF ST MAGNUS THE MARTI]i
WITH ST MAR
ICHAEL
FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2025
Contents
Page
Members of the Parochial Church Council
Professional Advisors
Annual R¢port
Independ¢nl Examiner's Report
Stat¢ment of Financial A¢tiviti¢s
Balance Sheet
io
Notes to the Financial Statem¢nts

Page I
THREE UNITED PARISHES OF ST MAGNUS I'HE MARTYR
WITH ST MARGARET AND ST MIC
Replstered Charity Name:
The Parochial Church CounLil of the Ecclesiastical Parish of
St Magmis the mart￿ with St Margaret New Fish Street and
St Michael crook￿ Lane, ￿ndOn
Registered Ch*rlty Number:
1130590
Church location:
Lower Thame5 Str¢¢t
London
EC3R 6DN
Members of the Paroehial Church Couneil: The Rcv¢rcnd P Warner SSC- Cardinal Rector {Chaimian)
Mr A Rdyn¢r (Vice Chair, DS R¢pTesentative)
Ms A Mathews (Churchwarden, Se¢r¢tary & Electoral Roll
Offi¢er until 18 May 2025)
Mr D Pearson {Churchwarden & Trea5UTer)
Mr D Love (Churchwardcn, Safeguarding Officer)
Mr A Colam (Churchwarden)
Mr E Hagger (Churchwarden)
Mr N Bird (Churchwarden. ele¢ied 18 May 2Tr25)
Mr M King
Mr R Austen
Mr M Coop¢r
Ms S Gray (GTeen Energy Champion)
Mr J Groves
Mr C S Harris-Fryers (Risk Officer & WaTden ofthe
Fralernily ofour Lady de Salvc Rcgina, Electoral Roll
Offic¢r Irom 18 May 2025)
DT F K¢ating
(DS= D¢anery Synod)
Verger:
MrNick Satgent
Parish Clerks..
Mr Michael C.oop¢r, OBE (St Magnus th# Martyr)
Dr Frank Keating (St Margaret New Fish Strect)
Dr Colin Pothnore, MBE (S¢ Michacl Crooked
Safeguarding Officer:
Mr Dickon Love, MBE
Book-keeper..
Mr Andrew Ashley

Page 2
TH]iEE UNITED PAIUSHES OF ST MAGNUS THE MARTYR
WITH ST MARGARET AND ST MICHAEL
Professional Advisors
Independent ExamiDer:
Knox Cropper LLP
Chartered Ac¢ountants
65 Leadenhall Street
London
EC3A 2AD
Bankers:
HSBC PIC
1-3 Bishopsgate
London
EC2N 3AQ
Virgin Money pl¢
Jubilee14ouse
Gosforth
Newcastle upon Tyne
NE3 4PL
Investment Managers".
CCLA Invesiment
Management Limited
SeT]atOT Hous¢,
85 Qu¢en Victoria St,
London
EC4V 4ET
M&G Securities Limil¢d
Laurence Pountney Hill
London
EC4R OHH
Arehiteets:
Shenstone & Parthers
302 The Highway
London
EIV 3DH

Page 3
THREE UNrrED PARISHES OF ST MAGNUS THE MARTYR
WITH ST MARGARET AND ST MICHAEL
Aunval Re
ort
The Parochial Church Council ("PCC") is pleased to p￿sent its report and (he financial stat¢rnenls of the Three
United Parishes of St Magnus the Martyr with St Margaret and St Michael ('Yhe church") for th¢ year ended
31 st Doc¢mber 2025. The trnslees have adopted the provisions of A¢¢ounting and Reporting by Charities..
Statement of Recommended Praciice appli￿b]e Éo ¢harities preparing iheir accounts in accordance with th¢
Financial Reporting Standard applicable in the UK and Republic of Jreland (FRS 102) (effectiv¢ l January
2019).
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative ddai15 are shown with the schedule of members of the PCC and professional
advisors on pag¢s l and 2 of the financial statements.
THE CONSTITUTION OF THE PCC
The parishes of St Margaret New Fish Street and St Michael Crooked Lane were united with that of St Magnus
the Matyr in 1670 and 1831 respectively. The parish is part of the City Deanery of the Diocese of London.
The PCC is a body corporate {Se¢tion 3 of The Parochial Church Council (Powers) Measures 1956 (as
&m¢nded))- It has a responsibility lo co-operate with the Cardinal Rector, the Reverend Philip Warner,
in
promoting in the parish the whole mission of the Church. pasloral, evangelistic, SO¢iV¢l and ¢cum¢ni¢al."
In accordance wilh ¢han8es introduced by the Charities Act 2006. the PCC has been registered with the Charity
Commission since 17 July 2009.
THE PCC AND THE STANDING COMMITTEE
The method of appointment of PCC members is set out in the Church Representation Rules. The PCC also acts
as the Standing Committee. PCC mcmbers are responsible for making dc¢isions on all matters of general
concern and importan¢¢ lo the parish including deciding on how the funds of the PCC ar¢ to be sp¢nl. The
Trustees confirni that they have considered the general guidance issued by th¢ Charity Commission in
connection with public bcnefit in s¢ttin8 the objectives of the charity.
OBJECTIVES AND ACTIVITIES
The primary objectives of the chur¢h are to offer daily prayers to God and to worship Him in the beauty of his
holiness. Through worship and prayer. we seek to know God better and to be confornied to his purposes for our
lives. In partnership with others we wish to mak¢ His love known within our city and nation, and throughout
the world. People who work in the City of London. or who come from further afield, can set aside their daily
concerns and spend a time of p¢ac¢ and prayer. asking for at)d rtteiving God's peace in their hearts.
The PCC provides public benefit by: providing worship, music and a space for pcrsonal prayer. offering pastoral
care, including for the sick and b¢r¢av¢d' maintaining the fabric of the Grade I listed ¢hur¢h in good ¢ondition'
keeping the church open for much of the week for the enjoyment of a wide range of visitors and promoting th¢
whole tnission of the Church
When planning our activiti¢s for the year the Rector, Reverend Philip Warner, and the PCC has considered ihe
Charity Commission's guidan¢¢ on public benefit and the specific guidance on ¢hariti¢s for the advancement
of religion. In particular, we try lo enable ordinary people to liv¢ out Ih¢ir faith through..
Worship and prayer- learning about ihe Gospel- and developing their knowledge and ttvst in Jesus.
Provision of pastoral care for city workers and other visitors.
Missionary and outreach work-
Concerts. meetings and other events (such as the annual bl¢ssing of the Thames).
To facilitate this work, it is important that we maintain the fabric of our Grade I listed building (designed by Sir
Christoph¢r Wr¢n) which w¢lcom¢s visitors from around the world.

Page 4
THREE iJNrrED PARISHES OF ST MAGNUS THE MARTYR
WITH ST MARGARET ALND ST MtCHAEL
ACHIEVEMENTS AND PERFORMANCE
Iyorship andPr(ryer
The PCC is keen to olTer & range of services during the week and over the course of the yearthat our community
find both ben¢ficial and spiritually fulfilling. All are welcom¢ to attend our regular s¢rvice5. Parish Mass IS
celebrated every Sunddy at I lam and Mass celebrnted each Tuesday, Wednesdav. Thursday and Friday at
12..30pm. The church is usually o￿n for visiting and for private prayer Tuesday to Friday l Oam to 4pm. The
Sunday congregation averages around 50_60, with this number greatly increased during special services and
events. The church continues to live-stream Sunday Mass most weeks.
The PCC has pass¢d a r¢solution requesting th¢ Bishop of London to provide alternative episcopal oversight of
the parish by the Bishop of Fulham, under the guideliDes of the House of Bishops for parLshes unable to receive
for theological reasons the sacramental ministry of women. The PCC 15 also a￿]liated with The Society, an
ecclesial body ivhich promotes and maintains ¢atholi¢ tea¢hing and pra¢li¢¢ within the Chu￿￿ of England and
guarantees a millisty in th¢ histori¢ apostolic succession.
St Magnus has a strong and lively inusical tradition with skilled and enthusiastic organist, Mr John Eady, and
choir, the latter under the direction of Mr Edward Walters. Every Sunday a quart¢t (often augmenled) enrich
the parish worship by singing the prop¢rs of the day, a mass Setting and a motet, frequently from less known
and unjustly negle¢ted compos¢rs.
The annual Blessing of the Thames was held in January 2025.
Th¢ Fraternity of Our Lady de Salve Regina has met regularly at the chur¢h during the y¢ar. Mr Craig Harris-
Fryers is Th¢ Warden. The Annual Festival was kepton 20 S¢plemb¢r 2025.'fh¢ Fraternity and the PCC sponsor
lamps in the Holy House of the Shrine of Our Lady of Walsingham.
Deanery Synud
Alex Rayner sal on the City Deanery Synod throughoiit ih¢ whole of 2025. Having this representstion provides
the PCC with an important link between the parish and the Dioccse and wider Church.
Reclory
The Di(Kese has provided a house for the R¢ctor at 123 Calabria Road, London N5, the parish's fonD¢r reclory
ai 39 King William Street, London, EC4 having been sold on 30 May 1921 for £8,000.
Si Magnus ihe Martyr and itsplace in ¢he Cily
The church is built where all people crossing the old London Bridge used to enter the City. and standing on the
crossroads. il has seen tnany important events in its I,000-yeaT history. The object for which the chureh was
originally built has not changed. now as then, prayers are offered daily to God, and He is worshipped in the
beauty of holiness. Now as then. people who work in the City, or who come from further afield set aside their
daily concerns and spend a lime of peace and prayer, asking for and receiving God's peace in their hearts. We
welcome visitors from around ihe world, who com¢ (o marvel at the beautiful interior and 10 See our world_
famous 4-metre-long model of the old Bridge, old fire engine or listen to our celebrated ring of bells.

Page 5
THREE UNITED PARISHES OF ST MAGNU.S THE MARTYR
WITH ST MARGARET AND ST MICHAEL
ACHIEVEMENfs AND PERFORMANCE (eontinued)
Livery CoTnpanies and Ward Club
St Ma8nus the Martyr is proud lo be the Livery Church of The Worshipful Company of Fishmongers and The
Worshipful Comp&ny of Plumbers, and to host their respective services. It is also the church for the Ward of
Bridge and Bridg¢ Without and the parish welcomed the Brid8e Ward Club for its annual carol service.
TwinningArrangement
St Magnu5 the Martyr is linked in prayer with our sister parish, the Church of the ResUr￿¢t10fi. New York.
InternalRedecoration
Having successfully raised funds and carried out urgent works to th¢ roof in recent years, the PCC turned its
attention to the interior of the church, whi¢h has suffered. from the effects of water ingress and general
deterioration over the years. It has been decades sin¢¢ significant work has been Ca￿led out on the church's
interior. and the PCC launched a red¢coralion and beautification fund to address these needs in April 2024 to
raise money from funders. donors and other sources. We gratefully acknowledge the g¢nerous support of the
following donors so far..
Gold Donors: The T.S. Eliot Foundation; Stsphen & Pauline Hoare,. Alex Rayner & Tyler Hill.
Bronze Donors: Dr Colin Podmore, MBE. Mr N Copcutt., Prof RY & Mr5 AM CartWTight' Mr David Ross. Mr
RH Drew. Mr FC Rodgers" Mr David P¢%irson.
Other DoDor8: Mr Charles Yuill,. Lt Col RJA Paterson-Fox' Eileen Slatter.
Clock
The church features an impressive and historic bracket C]￿k gifted by Sir Charles Dun￿rnbe in 1709. The
London City Press on Saturday 27 April 1861 r¢¢ord¢d that..
"The clock ofihis church, wiih ifsprojecling dial. wL)repreJeniedby Sir Chuiles Duncombe in 1709. Tre hislory
ofsir Charles is one oul ofihe nt(wy injlunces ofmen ofhumble bipth pising io exuliedslafion in the City. When
apoor boy. he made an appoinlmeni wilh his muJler £0 meei him at a certain time on London Bridge. but missed
him on ac'counl of hi5 not knowing lhe lime. He resolved ihai. ifhe ever ro.se in the world, to have a clockfued
in ihe vicinity. Time rolledon,. apzd whar appeared io be bul G day dream of¢hepoor lad, becamL' a realiiy, (md
in J709 he was el¢eled to the oJTice ofLurdMayor. In rhalyear, mindful ofhu early resolve, he gi7ve ihe elock"
The mechanism is kept in excellent working order, but the exterior clock face, which is painted and gilded.
required repair and redecoration. This work was c8rrt¢d out in the sum of £17,999 (incl VAT) and the PCC is
enormously grateful to the following donors for assisting us to carry out th¢se works.. £5,000 frotn Friends of
Ciry Churches. £2,000 from Georgian Group Cl¢ary Fund. £1,000 from the Worshipful Company of Plumbers.
Charity. and £500 from the Worshipful Company of Clo¢kmakers.
2030 Nei Zero Targel
In 2020. to furth¢r our part in th¢ Church of England's target for nel zero carbon by 2030. the Parish appointed
a Green Energy Champion. Our supply comes from l OOD/o renewablc energy, we use energy efficient lighting
wherever possible, and we are undcrtaking a range of other m¢asur¢s lo minimise our use of Carbon.
Suslainable Communities, Diversity & Inclusion
Lik¢ most other City chur¢hes, almost no one actyally lives within the parish, so w¢ cannot as easily arrange
for our parishioners to engage in person with the local community in the way a residential parish could.
However, w¢ make the Tnost of our location, history and living worship to be a mission to everyone who is part
of our community, whether as City worker5, domesti¢ or overseas visitors. passers-by or those who make use
of our buildings and grounds. We ¢ontinue to engage with the community and visitors, and we a150 continue to
maximise our irnp4￿t by engaging with the comvnunity online, through our website, virtual tour and liv¢
slr¢amin¥ of services and otheT events, all of which support our Living History Programme. In 2020 we
appointed a Diversity & Inclusion Champion, and wc are pleased to have parishioners from diverse backgroullds
serving in leadership roles, on the PCC, on ihe serving team, as volunteers and in other capacilies. All are
welcome at St Magnus.

Pag¢ 6
THREE UNITED PAIUSHES OF ST MAGNUS THE MARTYR
WITH ST MARGARET AND ST MICHAEL
VOLUNTEERS & SiIPPORTERS
We would like to thank all the volunteers who work so hard to make ourchurch the lively and vibrAnt Qommunity
it is. Thanks are given to the members of the PCC for th¢ir valuable contribution to our ministry and for keepin8
the church running. W¢ also wish to thank the many generous donors. benefactors. funders and others who
support 115 financially. Your kind and thoughtful contributions help us keep our parish and community alive as
"beacon of light" in the heart of the City-
FINANCIAL REVIEW
Net incom¢ for 2025 tolalled £239,076, cotnpared to £26.263 in 2024. The surplus for the year included an
unrealised investment gain of £1,701 (2024: Gain of £6,643). Excluding unrealised investment movement, the
surplus increased significantty from £19.620 in 2024 to £237,375 in 2025.
Tota] income rose to £441.285, up from £257,599 in 2024. A signifi¢ant portion of this incoine was made up
of a one.off legacy of £171.475 from the Estste of the Lat¢ Ann G¢org¢. The £14,500 grant received from the
St Michael's Trust was fully utilised in the year and is separaEly disclosed in ihese accounts.
Total expetlditure amouni¢d to £203,910 compared to £237.979 in 2024. Included within this expenditure was
£2,068 relating to r￿)f works classified under repairs and maintenan¢e as restricted. The Diocesan parish share
payable during the year increased from £78,600 in 2024 10 £87.000 in 2025.
Investments increased in value during the year from £248.214 to £261,947, in line with market ¢ondilion5, while
cash at bank ros¢ significantly from £56,091 to £301,999. The PCC cotttinu¢s to assess the need to keep thnds
on hand (or major repairs.
Total ￿ndS InCrea￿d from £333.497 at 31" December 2024 to £572.573 at 3 I" December 2025.
RESERVES POLICY
It is PCC policy to build a level of unrestricted funds commensurate with medium terni needs for repair and
mainlenance of the fabric of St Magnus the Martyr. The PCC continues to work with the architect to determine
an appropriate lime horizon for works assessment and prudent level of fundiiig to pr¢s¢rve our Grade I listed
building for the next generation. It is a150 PCC policy to maintain additional amount of unrestricted funds
(as far a5 wssible) equating to at least four months, unrestricted payments. R¢serves at the year-end amount¢d
to £572.573. of which £37,313 were restricted.

Page 7
THREE UNITED PARISHES OF ST MAGNUS THE MARTYR
WITH ST MARGARET AND ST MICHAEL
RESPONSIBILITIES OF THE TRUSTEES
The trnstees are responsible for pr¢paring the annual report and financial statements in accordance with
applicabl¢ Charity law and regulations. Under that law, the trustees have elccted to preparc the financial
statements in accordance with Unit¢d Kingdom Generally Accepted Accounting Practice (Unit¢d Kingdom
Accounting Standards and applicable law). The finanLidl Syatements are required by law to give a true and fair
view of the stale of affairs of the charity and of the surplus or deficit of the charity for that period.
In preparing these financial statements. the tTUStees are required 10:
Select suitable accounting policies and then apply them consistently.
Mak¢ judgem¥nts and estimates that are reasonable and prudent.
Prepare the financial stslements on the going concern basis unless it is inappropriate io presume that
the el)arity will Continue on operalion.
Th¢ trustees ar¢ r¢sponsible for keepin8 proper a¢counting rewrds which disclose with reasonable accuracy at
any time the financial position of the charity and which enabl¢ them to ensure that the financial statcments
comply with the Charities Act 201 l. The trust¢es are also responsibl¢ for safeguarding the assets of the charity
and h¢n¢¢ for iaking reasonable Steps for the prevention and d¢È¢tion of fraud and other irregularities.
ACCOUNfANrs
A resolution to re-appoint Knox Cropper LLP as independent examiners for the ¢nsuing yearwill be proposed
at the Aniiual ParocFtial Chur¢h M¢¢ling.
Approved by the PCC on 17th May 2026 and signed on their behalf.
Revd Philip Warner
Cardinal Rcrtor

Page 8
INDEPENDENT EXAMtNERS' REPORT TO THE TRUSTEES OF
THE THREE ur4rrED PARISHFS OF ST MAGNUS THE MARTYR WITH
ST MARGARET AND ST MICHAEL
Independenl examiner's report ¢0 the t￿￿tte8 of Tbe Three Ullited Parishes of Sf Magnus the Martyr
with St Margaret and St MicbAel
I report to the trustees on my examination of the ac¢ounts of The Thr¢e United Parishes of St Magnus the
Matyr with St Margaret and Si Michael (the Trust) for the year ¢nded 3 1st December 2025.
This report is made to the Trustees, as a body, in accordance with the ternis of my ¢ngagement. My work
has been undertaken so that I might carry out an Independent Examination of the financial statements in
accordance with the General Directions given by the Charity Commission¢rs. fo the fullest extent pemiitted
by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Truste¢s
as a body for my work or for this report.
Responslbilities and b￿18 of report
As th¢ charity trustees of the Trust. you are responsible for the preparalion of the accounts in accordan¢¢
with ihe requirements of the Charities Act 2011 ('th¢ Act,).
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 201 l Act
and in carrying out my examination I have followed all applicable Directions given by the Charity
Commission under section 145(5)(b) of the ACL
Independenl examiJJer'$ statsment
I have compl¢t¢d my examtnation. l ¢onfirni that no material matters have come to my attention in
conn¢¢tion with the examination giving me cause to believe Ihat in any material respect..
accounting records were not kept in respeGt of the Trusl as required by section 130 of th¢ Act. or
the accounts do not accord with those records. or
the accounts do not comply with the applicable requirements concerning the fomi and ¢ont¢nt of
accounts set otEt in the Charities (Accounts and Reports) Regulations 2008 other than any
r4uirement that the accounts give a Irue and fair vicw which is not a matter considered as part
of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should b¢ drawn in this report in order to ¢nable a proper understanding of the accounts to be
reached.
65 Leadenhall Street
Londo
EC3A 2AD
James Holland-Leader FCA
Knox Cropper LLP
Chartered A￿0llntants
17th May 2026

THREE UNITED PARISHES OF ST MAGfffjs THE MARTYR
WITH ST MARGARET AND ST MECHAEL
STATEMENT OF FINANCIAL ACTIVITIES
ST
FOR THE YEAR ENDED 31 DECEMklER 2025
2025
Restricted
Funds
2024
Unrestrleted Restricted
Fund5
Funds
Unrestricted
Fund$
Total
Total
Notes
INCOME FROM
Donations, l*g&ci¢s and Collections
other Trading Income
Inv¢slm¢nts
her Income
277,298
93,738
13,756
588
55,905
333.203
93.738
13,756
588
84.788
92.105
7.655
9,605
63.446
148,234
92,105
7,655
9,605
TOTAL INCOME
385,380
55,905
441.285
194.153
63,446
257,599
EXPENDrruRE ON
Raising Funds
Charitable Activtties
I,ioo
152.589
i.ioo
236.879
163,827
40.083
203,910
84.290
TOTAL EXPENDITURE
163,827
40,083
203,910
153.689
84,290
237.979
Net Gains on Investment Assets
io
1,701
1,701
6,643
6,643
Transfer betsveen Funds
13&14
(9,499)
9,499
(11.270)
11,270
NET INCOMLI(EXPENDITURE) AND
NET MOVEMENT IIY Fuf4DS
213.755
25,321
239,076
35.837
{9,574)
26.263
TOTAL FUNDS BROUC.Irr
ST
FORWARD AT I JAIYUARY 2025
321,505
11,992
333,497
285.668
21.566
307.234
TOTAL FUNDS CARIUED
FORWARD AT 31- DECEMBER 2025
£535.260
£37,313
£572,573
£321,505
£11,992
£333,497
All the activilies reported above represent continuing op¢rntions.

Page 10
THREE UNITED PARISHES OF ST MAGNUS THE MARTYR
WITH ST MARGARF.T AND ST MtCHAEL
BALANCE SHEET
5T
AT 31 DEC
R 2025
2025
2024
Notes
FIXED ASSETS
Investment
io
261,947
248,214
CURRENT ASSETS
D¢btors and Prepayments
Cash at Bank and in Hand
16,609
301,999
39,068
56,091
318,608
95,159
CREDrroRS:
Amount8 falling due within olle year
12
7,982
9,876
NET CURRENT ASSETS
310,626
85,283
NET ASSETS
£572,573
£333,497
UNRESTRICTED FUNDS
13
535,260
321,505
RESTRICTED FUNDS
14
37,313
11,992
TOTAL FUNDS
£572,573
£333,497
Approved by the Parochial Church Council on 17th May 2026 and signed on their behalf.
Rev¢r¢nd Philip Warner
Cardinal Rector
Mr David Pearson
Treasurer

Pagell
THREE UNITED PARISHES OF ST MAGNUS THE MARTYR
WITH ST MARGARET AND ST MICHAEL
NOTES TO THE FINANCIAL STATEMEiYrs
FOR THE YEAR ENDED 31ST DECEMBER 2025
ACCOUNTILYG POLICIES
a) Status of tbe PCC
The Three United Parishes of St M84gnus the Martyr with St Margaret and St Michael is a registered
Charity. No. 1130590.
A description of the nature of the PCC'S activiti¢s is disclosed in the Report of the Trnstees. Th¢
PCC'S registered office is stated on page l.
The presentation curr¢n¢y of the financial statements is th¢ Pound Sterling (£).
b) Bgsi8 of Prepar*tion and Assessment of going concern
The financial statements have been prepared under the Charities Act 201 l &nd in accordance with
the Church A¢counting Regulations 2006 governing the individual accounts of PCC5, and with the
Regulalions true and fair view. provisions, together with the Financial Reporting Standard
Applioable in the United Kingdom and Republic of Ireland {FRS 102) and the Statement of
Roeommended Practice: Accounling and R¢porting by Charities (SORP (FRS 102)).
The ￿COUnts have been prepared under the historical cost convention with the exception of
investments which are included at market valu¢.
The Charity constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that ther¢ are no material uncertainlies about the Charity's ability to continue
as a going concern.
c) Fullds
General funds represent the funds of the PCC that are not subject to any restrictions regarding their
use and are available for application to the general purposes ot the PCC. Funds designated for a
particular puryose by the PCC are unrestricted. Restricted Funds are fund5 which are used in
accordance wilh sp¢¢ifi¢ restrictions imposed by donors or which have been rais¢d by the Charity
for a particular purpose. For detsils of th¢ restrieted funds see note 15 in these financial statement5.

Pag¢ 12
THREE UNITED PARISHES OF ST MAGNUS THE MARTYR
WITH ST MARGARET AND ST MICHAEL
NOTES TO THE F1Tr4ANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2025
(continued)
I. ACCOUNT]F4G POLICIES (colltinued)
d) Income
All income is r¢¢ognised once the charity has entitlement to the income, it is probable that the
income will be received, and the amount of income receivable can be measured reliably.
Donations. Legaeies and Collections
Coll¢cti(Trns are recognised when banked by or on b¢half of the PCC. Giving receivable under Gift
Aid is ￿08￿15ed only when received. Grants and legacies are ac¢ounted for when the PCC is
notified of its legal entitlement and the amount due is probable. The small income frovn sales of
books. cards, etc. is included in th¢ church plate colle¢tions etc. Sales of choir CDS are accounted
for in the Music Fund.
Other ordinury incopnefrom church aelivill¢
Parochial fees due to the PCC for weddings, etc. are accounted for on an event by event basis.
Rental income from th¢ vesty house flat. basement office and parking is recognised only wh¢n
received.
Jncomefrom investments
Dividend and interest income are ac¢ount¢d for when received as is any income tax recoverable on
such income.
e) Expenditure
Liabilities are reeognised as expenditure as soon as there is a legal or constructive obligation
ommitting the charity to that expeiiditure, it Is probable ihal settlement will be required and th¢
amount ot'the obligation can be measured reliably. All expenditur¢ is accounted for on an accruals
basis. All expenses i¥Jcluding support Costs and governance Costs are allocated or apportioned to
the applicable expenditur¢ headings.
Q Fixed Assets
Consecraled land and buildings and moveable churchfvnishing3
Consecratcd and beneficed property is excluded from the finan¢ial statements by section 10(2) Io
(4) of ilie Charities Act 2011.
No value is placed on moveable church furnishings held by th¢ ¢hurchwardens on 5p¢cial trust for
the PCC and which require a faculty for disposal. as the PCC consideTS this to be an inalienable
property. All expenditure incurred during the year on consecrated land and beneficcd buildings,
whether maintellance OT improvement. is charged to the a¢eounts diiring the year, as is
expenditur¢ on mov¢able church furnishings.

Page 13
THREE UNITED PAIUSHES OF ST MAGNUS THF MARTYR
WITH ST MARGARET AND ST MICHAEL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2025
(continued)
ACCOUNTING POLICtES (continued)
g) Investments
Investments are a forni of basio financial investtncnt and are initially recognised at their transa¢lion
value and subsequently measured at fair value as at the balance sheet dale using the closing quoted
market price. The statement of financial a¢tivities includes the net gains and losses arising on
revaluations and disposals throughout the year.
Realised gains and losses on investments arc calculated as the difference between sales proceeds
and their opening caming value or tlieir purchase value if acquired subsequent to the first day of
the financial year. Unrealised gF8Rns and losses are calculated as the difference bctwoen the fair
value at the year end and their carrying valu¢.
h) Current Agsets and Li*bilities
Debtors and crediiors are recognised where, at th¢ balance sheet date, an entitlement to r¢¢¢ive or
transfer economic benefit exists and settlement is probable and can be measured reliably. Amounts
ar¢ measured ai the expected seltlement amounL discounted for the time value of money if material.
Cash at bank and in hand includes cash held on deposit either with the CBF Church of England
Funds, or at the bank.
STATEMENT OF THE RESPONSIBILITIES OF THE MEIVJBERS OF THE PCC
The Members of the Parochial Church Council Are responsible for the pr¢paralion of the financial
staleTnent5. 'fhey are also responsible lor ensuring thal proper books of aocount are kept in respecl of
the funds of the Three United Parishes.
2025
Restricted
Funds
Unrestrieted
Funds
Total
COLLECTIONS
Collections Gift Aided
Planned 8iving Gift Aided
Conta¢tless and PavPal
Legacy
Income Tax Recoverable
Grants
Si Michael's Trnst Incom¢
Salve- Donations etc.
Don&tions, Appeals
Flood Fund
Redecoration
Clock Repair
18,535
23,619
17,646
171,475
18,562
2,140
18,535
23.619
17,646
171,475
18,562
2,140
14,500
5,192
25,321
16,213
11,500
8,500
14.500
5,192
25.321
16,213
11,500
8,500
£277,298
£55,905
£333,203

Pa8e 14
THREE uL￿rED PARISHES OF ST MAGNUS THE MARTYR
WITH ST MARGARET AND ST MICHAEL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2025
(continued)
2024
Restricted
Funds
Unr&*tritted
Funds
Total
COLLECTIONS (continued)
Colle¢tions Gift Aided
Planned giving Gift Aided
Conlactle55 and PayPal
Incom¢ Tax Recovernble
Plate ¢ollections, boxes and votives
Grants
St Michael'5 Trust Incom¢
Salve- Donations etc.
Donations. App¢als
Roof Fund
Pilgrimage
Redecoration
17.641.
26,942
12,640
9.132
17,641
26,942
12,640
9,132
10,197
10.197
14,500
3,174
8,236
20,069
22,018
3,685
14,500
3.174
8,236
20,069
22,018
3.685
£84,788
£63.446
£148,234
2025
2024
Unrestricted
Funds &
Total
Unrestricted Restricted
Fund5
Funds
Totsl
OTHER TRADfNG INCOME
Rental Income I Parking Fees
Parish Rate
Church Hire Income & Sundries
8,178
168
85,392
8,178
168
85,392
17,685
1,368
73,052
£93,738
£93,738
£92.105
INVESTMENTS
Dividends
Bank Interest
12,032
1.724
12,032
1.724
7,612
43
£13.756
£13.756
£7,655
6. OTHER INCOME
Other Income
VAT recoverable
1,158
8.447
588
588
£588
£588
£9,605

Pag¢ 15
THREE tJNITED PARISHES OF ST hlAGNUS THE MARTYR
WITH ST MARGARET AND ST MICHAEL
NOTES TO THE FINANCIAL STATELVIENTS
FOR THE YEAR EIYDED 31ST DECEMBER 2025
(eontinued)
2025
2024
Unrestricted
Fuud5 &
Total
Unreytrieted Restricted
Fund5
Funds
Tot*1
7. RAISING FUNDS
Parish Rate fees
1,100
£1,100
2025
Unreslricted Restricted
Funds
Funds
Total
CHARITABLE ACTivrfiES
Charitable Giving
Activities Directly Related to the work of
the Church (Nol¢ 88)
Expenditure Related to the Church (No* 8b)
Administrative Costs (Note 8¢)
2.021
2,021
124,351
28,978
8,477
20,016
20,067
144,367
49,045
8,477
£163,827
£40,083
£203.910
2024
UDrestricted Restrieted
Funds
Funds
Tot*1
Charitable Giving
Activities Directly Related to th¢ work of
the ChuTch (Note 8&)
Expenditure Related to the Church (Note 8b)
Administrative C05ts' (Nol¢ 8¢)
1,080
1,080
116,479
30,483
4,547
41,031
43,259
157,510
73,742
4.547
£152,589
£84,290
£236,879

Page 16
TEIREE UNITED PARISHES OF ST MAGNUS THE MARTYR
WITH ST MARGARET AKD ST MICHAEL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2025
(continued)
2025
Unrestricted Restricted
Funds
FuDds
Total
(a) ACTIVITIES DIRECTLY RELATED TO
THE WORK OF THE CHURCH
Verger
Diocesan Parish Share
Cardinal Rector Travel Expenses
Clergy House
Entsrtainment and Cal¢rin8
Organist and Singers
Organ Maintcnance
Salv¢ Regina
18,829
87.000
18,829
87,000
904
17.618
904
32,118
943
4,573
14,500
943
4,573
£124,351
£20,016
£144,367
2024
Unrestricted Restrieted
Funds
Funds
Total
Verger
DI￿¢san Parish Share
Cardinal Rector Travel Expenses
Clergy House
Entertainment and Catsrillg
Organist and Singcrs
Organ Maintenance
Salve Regina
Pilgrimage
18,021
78,600
18,021
78,600
3,699
16,159
3,699
30,659
738
3.315
22,478
14.500
738
3,315
22,478
£116,479
£41,031
£157,510

Page 17
THREE UNITED PAIUSHES OF ST MAGNUS THE IVIARTYR
WITH ST MARGARFT AND ST MICHAEL
NOTES TO THE FINANCIAL STATELVIENTS
FOR THE YEAR ENDF.D 31ST DECEMBER 2025
(continued)
2025
Unrestricted Restrieted
Funds
Funds
Tol*l
(b) EXPENDITURE RELATED TO THE
CHURCH
Church Runnin8 Expenses
General Repairs and Maintenance
Clock Repair
26,812
2,166
26,812
4.234
17,999
2.068
17,999
£28.978
£20,067
£49.045
2024
Unrestricted Restricted
Funds
Fundg
Total
Church Running Expenses
General Repairs and Maintenance
24,500
5,983
24,500
49,242
43,259
£30,483
£43,259
£73,742
2025
2024
Unrestri¢¢ed
Funds &
Total
Ullrestricted Restricted
Funds
Funds
Totsl
(c) ADMINISTtL4TIVE EXPENSES
Telephone, Photocopier, Postage and
Stalionery
Bank Charges
Professional Fees
Independcnt Examiner's Fee
Flat costs
4,011
,067
500
2,100
799
4,011
1,067
500
2,100
799
1,359
905
489
1.794
£8,477
£8.477
£4.547

Pag¢ 18
TllliEE iJNITED PAIUSHES OF ST MAGNUS THE MARTIIi
wrtH ST
GARET AND ST I￿lCHAEL
NOTES TO THE FINANCIAL STATEMENTS
THE YEAR ENDED
1ST DECEMBER 202
(fontintted)
TRUSTEES, REMtrNERATION
AND BENEFITS
There were no trustees, reinuneration or oiher benefits for the year ended 31 December 2025 noT for the
year ended 314 December 2024.
Trustees, Expenses
Two Trustees wer¢ reimbursed expenses for the year ended 31 December 2025 amounting 10 £6,040 The
nature of monics tEimbursed related privnarily to Church's running costs and repairs (2024.. £7,970).
2025
2024
10. INVESTMENTS
Balanc¢ Brought Forward
Addilions/Accumul&ted Dividends
Disposals
Realisedlunrealised (Losses)/Gains for the Year
248,214
12.032
233,959
7.612
1.701
6,643
Balance Carried Forward
£261,947
£248,214
Investtnents Comprise:
M & G Investments
197.431 (2024= 197.431) ChaTifund
Ac¢umulatioTr Units
CBF Church of England Investment Fund
2926.22 (2024: 2926.22) Accumulation Shares
80.435
.558
181,512
183,656
£26l,947
£248,214
2025
2024
I I. DEBTORS AND PREPAYMENTS
Incom¢ recoverable
Sundry Debiors
VAT r¢coverable
10,041
6,568
20,998
15,312
2,758
£16,609
£39,068

Page 19
THREE iiNITED PAIUSHES OF ST MAGNUS THE MARTYR
wrrH ST MARGARET AND ST MICHAEL
NOTES TO THE FINANCL4L STATEMENTS
FOR THE YEAR ENDED 31ST DF,CEMBFR 2025
(continued)
2025
2024
12. SUNDRY CREDITORS
Accruals
Independent- examiner fee
5.882
2.100
8,082
1,794
£7,982
£9,876
13. UNRESTIUCTED FUNDS
Re4li5¢dl
Uureali5ed
ExpenditllT¢ GaIn￿(LO$st$l
Bxlance at
11112U25
Balance #t
3111212025
JncoTN¢
Transfers
G¢neral
£321.505
£385.380 £{163,827)
£1,701
£(9,499)
£535,260
14. RESTRICTED FUNDS
Bal#nee at
11112025
BalaNf¢ at
3111212025
Income
Expeuditure
Transfers
St Michael's Trust
Music Fund
Chair Restoration
Organ Fund
Salve Regina
Flood Fund
Redecoration
Clock Repair
14.500
(14.500)
249
613
2.579
4,196
249
613
1,636
4,815
14,145
15,855
(943)
{4,573)
(2,068)
5,192
16,213
11,500
8,500
4.355
(17,999)
9,499
£11,992
£55,905
£(40.083)
£9,499
£37,313

Page 20
THREE UNITED PARISHES OF ST MAGNUS THE MARTYR
wrrH ST MARGARET AND ST MtCHAEL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMiIER 2025
(COlltiDued)
2025
Restricted
Unrestrieted
Total
IS. NET ASSETS BY FUND
Fixed Asbets
CuTrenl Assets
Creditors
261,947
293,287
(7,982)
261,947
318,608
(7.982)
25,321
£547.252
£25,321
£572,573
2024
Restricted
Unrestri¢ted
Total
Fixed Assets
Current Assets
Creditors
248,214
104,733
{9,876)
248,214
95,159
(9,876)
(9,574)
£343.07]
£{9,574)
£333,497
16. EMPLOYEE INFORLIIATJON
There were no etnploy¢¢s who received employee benefit5 exceeding £60.000(2024: None).
The average weekly number of staff employed during the year was:
2025
2024
Verger
Staff costs-.
Wages dnd salaries
Pensions
18,462
367
17,678
343
18.829
£18,021
17. VOLuNfEERS
We would lik¢ to thank all the volunteers who work so hard to tnake our church the lively and
vibrant community it is. Thanks are given to the members of the PCC who gave their considerablc
time and expertise to ourministry and for keeping the chur¢h running. In accordance with Ihe SORP.
duc to the absence of any reliable measurement basis, the contribution ot these volunteers is not
recognised in th¢ ￿Counts.