St. Lawrence Church, Abbots Langley and Church of the Ascension, Bedmond Annual Report and Financial Statements of the Parochial Church Council for the year ended December 31" 2025 Incumbent The Revd Dr P.M. Waddell The Vicarage, Hilbernel. 26 Greenways, Abbots Langley, WD5 OEU Bank Uoyds Bank plc 32 & 32a, Atria Shopping Centre, Watford WD17 2UB Independent Examiner Gary Howard Howard Wilson, Chartered Accountsnts 36. Crown Rise. Watford, Herts, WD25 ONE Registered Charlty Number 1130597 Abbots Langley PCC Annual Report and Financial Statements 2025 Trustees Report for 2025 ChGrity Nome.. The Parochiol Church Council of the Ecclesiostical Pansh of St. Lawrence, Abbots Langley. Registered Chority.. 1130597 PrincipalAddress.' St. Lawrence Church Office. High Street, Abbots Longley, WD5 OAS Statement of PCC Responsibilities The Charities Act 2011 requires the PCC to prepare financial statements for each financial year which give a true and fair view of the the PCC'S financial attivities throughout the year, and its financial position at the end of the year. In preparing financial statements giving a true and fair view, the PCC should follow best Prattl￿ and: Select suitable accounting policies and apply them consistently Make judgements and estimates that are reasonable and prudent State whether applicable accounting standards and statements of recommended practice have been followed. subject to any material departures disclosed and explained in the linancial statements; and Prepare the fi'nancial statements on the going concem basis, unless it is inappropriate to assume that the PCC will continue its operations. The PCC members have overall responsibilityfor ensuring that the PCC has appropriate systems of controls. financial and othetwise. They are also responsible for keeping proper records which disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure th2t the financial statements comply with the 2011 Act. They are responsible for safeguarding the assets of the PCC and for taking reasonable steps for the prevention of fraud and other irregularities and to ensure.. The PCC is operating effectively and efficiently Its assets are safeguarded against unauthorised use or disposition. Proper records are maintained and financial information used within the PCC or for publication complies with relevant laws and regulations. Trustee5 Members of the PCC are either ex-officio or elected bythe APCM in accordance with the Church Representation Rules. During the calendar year. the following served as members ofthe PCC land so trustees}: Clergy.. Revd. Dr. Peter Waddell {Chairl; Revd. Helen Neville Lay Reoder.. Mrs Sally Sanderson {moved to emeritus status. November 20251 Churchwardens- Prof. Thomas Betteridge: Mr. Richard Baldwin. Mrs Pamela Lewis was appointed Deputy Churchwarden by the PCC in June 2025. Deanery Synod Representutives: Prof Richard Simons Elected members: Dr. Helen Shepherd; Mrs Roxanne Yau (Parish Safeguarding Officer); Mrs Rita Baldwin,. Mr Christopher Sanders {Treasurer); Mr Alex-Horrox White. Mrs Miriam Job- Mr. Stephen Wray,. Mrs Frances Foulsham- Mrs Anne Maskill- Mrs Hilary Causer Iresigned May 20251; Mrs Pamela Lewis. Co-opted members: Mrs Amanda Hawkes (Secretary) A new electoral roll for the parish was formed in 2025, as is required bythe Church Representation Rules every six years. At the APCM on 22 May 2025, the electoral roll stood at 146. Page 2 of 29 Abbots Langley PCC Annual Report and Flnancial Statements 2025 Strurture, Governante ond Management The charity's governing documents are the PurochiGI Church Council Powers Measure11956) as amended, and the Church Representation Rules120201. The PCC operates through a number of committees which meet between full meetings of the PCC and report to these meetings. standing Committee-the only committee required by law. It has the power to transact the business of the PCC between meetings, subject to direciions given bythe Council. The Committee comprises the parish clergy, the churchwardens. the Treasurer, and Dr. Helen Shepherd. Finance Committee- oversees the general financial affairs of both churches by monitoring income and expenditure, budgeting, promoting stewardship especiallythrough planned giving. and overseeing the fundraising activities ofthe PCC. It also attends to any d)aritable donations made by the PCC, in line with the parish policy on charitable donations. Property Committee- attends to matters relating to the upkeep of the buildings 3nd their surroundings. These include the two church buildings. their fabric and churchyards.. the Church Hall and Stable Block, and the parish-owned house at 40 Kindersley W2y. Sociol Committee- organises social events focu55ed on St. Lawrence Church. The Church of the Ascension has its own informal structure. Children Young People's Committee- oversees and co-ordinates the work of the parlsh with those aged 0-18. In 2025 the PCC established two new committees, which will begin their work in 2026. The Pastoral Committee will lead on the church's pastoral ministry to the wider community, as well ensuring good pastoral care within the church congregation. The Discipleship and Evangelism Committee will focus on the spiritual and evangelistic mission of the church (also absorbing the functions of the defunct Worship Committee). Sofrguarding Mrs Roxanne Yau continued to serve as Parish Safeguarding Officerthroughout 2025. All parish activities are run in full compliance with the House of Bishops. Safeguarding F)olicies. The PSO ensures that all those involved in work with young people 2nd/or vulnerable adults have the required level of trainjng and background checks. The Parish hasfollowed the 'Safer Recruitrnenv policy in making all appointments, such as that of the Director of Music. The legal action launched against the Vicar, Churchwardens and PCC in relation to the serious safeguarding incident concerning the Revd. Brian Hibberd. reported to the 2025 APCM, continued throughout the year. The matter is in the hands of our insurers. No resolution had been reached bythe end of 2025. Objectlves and Activities Abbots Langley PCC has the responsibility forcTroper3ttng with the incumbent, the Revd. Dr. Peter Waddell, and the curate, Revd. Helen Neville, to promote the whole mission ofthe church- pastoral, evangelistic, social and ecumenical throughout the ecclesiastical parish. The PCC is additionally the Managing Trustee of the Church Hall Charity, set up to manage the land and other assets of the Church Hall complex. The parish's current priorities are set out in the Mission Action Plan for 2023-2026, approved by the PCC in 2023. This is reproduced here: Page 3 of 29 Abbots Langley PCC Annual Report and Flnancial Statements 2025 The Parish of Abbots Lan I Mission Artion Plan 2023-26 The thing5 that do not change... whot thls parish will olways be about.. "Going deeper into God.. helping people grow in holiness. Making new disciples.- colling people of all oges tofollowJe5US. Transforming communities.. mt7king o positive sociol impoct locally ond beyond. In the light of these unchangingfvndamentols. these are ourpnoritiesfvr the next three years." Goln Dee er into God Rebuilding and strengthening our traditional style of public worship in the wake of the pandemic. Promoting knowledge and love of the Bible in our congregations Providing regular opportunitie5 for people to.learn more about the faith. Providing regular opportunities for people to grow in prayer. Makln New Dlscl les Seeking to develop a culture of 'welcome for.all'. Deepening our engagement with all those who comefor christening here. Helping children and young people grow in faith. Developing a clear route in from initial interest to coMM￿ed faith. Transformin Communities Continuing our Malawi Project. Supporting the work of our local Food Banks Developing our ministry with the dying and the bereaved. Making a local contribution to tackling global climate change. In the light of these priorities in the next three years we wllj seek to." Goin Dee er into God Renew our choral tradition through the appointment of a Dirertorof Muslc Continue to offer 34 short courses a year exploring different aspects of discipleship. Encourage and enable the personal habit of bible study among the congregation. Offer an annual parish residential retreat or quiet day. Makin New Disci les Run an annual course Specifically designed for enquirers and newcomers. Run the 'Everyone Welcome, course, asking all PCC members and welcomers to take part. Create a new all-age, informal afternoon service. Create a strategy offering children the opportunity to grow in faith from christening through to age eighteen. Page4 of 29 Abbots Langley PCC Annual Report and Financial Statements 2025 Tran5 rmin Communitie5 Complete the upgrade to dental facilities at SL Luke's H05pitsI, Malosa, and organise a visit. to Malosa in 2024. Raise awareness in the congregation of the reasons behind food poverty in the parish. Become a 'bereavement friendly church, through working on the 'Ataloss Charterf (see: htt www.lossandho e.or whats-onryoffer becomin -bereavement-friendl Obtain the A-Rocha 'Eco-Church' Bronze and Silver Awards . Parish Activities In 2025 Worshl Throughout 2025, the parish offered the following pattern of weekly worship: Sundays 0800 Said Eucharist at St. Lawrence 0930 Sung Eucharist at St. Lawrence 1130 Eucharist with hyrnn5 at the Church of the Ascension 1700 Evening Service (this could be simple. said Evening" Prayer; Taize Style worship- our monthly 'Breathing Space, conversational service; our new highly informal. contemporary worship service The Spark or Choral Evensong). Weekdays 0915. daily. Morning Prayer at St. Lawrence 1200, Wednesdays. said Eucharist at St. Lawrence Overall weekly attendance at services continued a steady if not spectacular recovery from the collapse during the p3ndemic. In 2025. attendance dropped beneath 100 for only 7 week5 (the comparable figure for 2024 was 9 weeks, and for 2023 16 weeks). In 2025. attendance was over 110 for 27 weeks, the comparable figure for 2024 being 20 weeks. and in 2023 being 151. We continued to livestream our principal Sunday service. and estimate that around ten people regularly parhcipate as fully as p.ossible in Se￿iCe5 through this provision (not counting more casual use of the livestream service). A Sunday School (Seekers,) continued to meet twice a month providing activities for children during the 9.30am Parish Eucharist. Numbers saw a steady increase throughout 2025. We are most grateful to Mrs Penny McLoughlin and Mrs Helen Shepherd for taking the lead in enabling Seekers to happen. There is a junior and adult choir, reflecting the high value the parish places on sung worship. Overall weekly attendance at services continued a steady if not spectacular recovery from the collapse during the pandemic. In 2025, attendance dropped beneath 100 for only 7 weeks {the comparable figure for 2024 was 9 weeks. and for 2023 16 weeks). In 2025. attendance was over 110 for 27 weeks, the comparable figure for 2024 being 20 weeks, and in 2023 being 151. We continued to livestream our principal Sunday service, and estimate that around ten people regularly participate as fully as possible in services through this provision {not counting more casual use of the livestream service). The parish continues to run a 'Messy Church, in collaboration with the Methodist Church. This ineets monthly. and regularly has around twenty children and their families taking part. The parish continued to offer regular opportunities for the deeper exploration of faith. Throughout 2025, the weekly'Friends and Faith. group continued to meet, and several shortcourses were offered throughout the year. A Parish Quiet Day took place in June 2025 exploring different ways of prater. -Throughout 2025, communion was being broughtto around ten individuals at home due to their inability to attend church. The clergywere also visiting two sheltered housing units each month to bring communion. P4e5of29 Abbots Langley PCC Annual Report and Financial Ststements 2025 Pastoral or'occaslonay Offi￿$ During 2025, there were 14 children underthe age of 4 christened in the parish. A service of thanksgiving and dedication was also conducted for I child. We were delighted to present five adult candidates for Confirmation (including three fro baptism also) at St. Alban's Abbey in October 2025. There were seven weddings in the parish in 2025 lexactlythe same number a5 in 2024), confirming the sharp decline in marriage rates observed nationally over several years. 20 funerals were tsken by the parish clergy. of which 9 were held in church and 11 at local crematoria and cemeteries. This Marks a sharp decrease from 2024, whell 30 funerals overall were taken. This may reflect a lower overall death rate. and the vastly increased number of 'direct cremations.. There were 26 burials of cremated remains in the churchyard. An ecumenical team of bereavement visitors continues to provide ongoing supportto the bereaved. Parish Organisations A wide range of parochial organisations continued to flourish throughout 2024. TinyTots' is ourweeklygroup Iterm-time only) for under4.5 and theircarers. This usually saw morethan 20 children attending for singing and stories with the clergy. Mrs Hazel Bulling and Mrs Teresa Fitzgibbon have offered excellent help with this group. Our Nameless Youth group for those aged 11-18 continued to meet twice per month. A weekly Craft and Conversation ('Knit and Natterf) group meets at St. Lawrence's. and continues to be very popular. The Mothers Union meets twice a month once with a varied range of activities. The Bell RinginE Team continued to grow. It rings tor the Parish Eucharist each Sunday, for special and civic services and weddings on request. Bedmond Church's monthly coffee morning remains highly popular. Community involvement Throughout 2025. the congregations contributed wwth great generosity towards the work of the Warford Food Bank. There is a collection point for goods in the church and in Sweeneys on the High Street. Food Is regularly collected by volunteers and transported to the Food Bank. The parish office also functions as a distribution point.for the Three Rivers Food Bank. The local Citizens Advice Service is housed in the Old stable Block. The parish offers this at half the usual business rate to support this valuable seNice to the local community. The clergy continued to be involved in local schools. giving weekly assemblies at Bedmond Academy and Abbots Langley Primary. Occasional visits were a150 made to Tanners Wood and Breakspeare Schools. and all the local schools came to Church for class visits. St. Lawrence's once again h05ted an immensely popular Switching On of the village Christmas lights. The highly successful Summer Fete, involving many volunteers and drawing large numbers. raised £2000 divided equally between our two chosen charities: Rennie Grove Peace Hospice Care and St. Francis Hospice. Along with other churches in Warford, the parish continued its strong commitment tothe Malawi Project in 2025. This project s￿pport5 the hospital in Malosa. Malwau. a5 well as a variety of improvement projects at the local secondary school and in the wider community. During 2025 a successful series of fundraising events, together with some generous donations, raised approximately £8,000. The support received from our congregation and the wider community has been very generous and 15 much appreciated. During the yearwe spent and committed some £5.900 supporting the refurbishment of.the Page 6 of29 Abbots Langley PCC Annual Report and Financial statements 2025 hospital's toilet block and obtaining and shipping items in a container to Malosa. Thought is now been given to another visit in 2027. With many of the team reaching their-sell by date" new blood is urgently required if our link with Malosa is to continue much longer. Care for creation The Churchyard is recognised as a county wildlife site and is managed with wildlife in mind. It has an important number of grassland indicator species. We have a noticeboard in the churchyard to inform people about what to look out for. The arttcles on this board are changed monthly. A regular group of church members and others meet once a month to perfomi invaluable work in maintaining the churchyard. In addition. several members carry out work throughout the week to keep paths clear and tend to the Garden of Remembrance. In 2025. the parish was assisted by a grant from Abbots Langlev Parish Council. This was used to pay for tree work and seryicing of the mowers. There is also a working party at Bedmond which maintains the churchyard there. In 2025, both the Church of the Ascension and St. Lawrence"continued to work towards the Silver Award in the A-Rocha 'eco-church' scheme. Legacies/Donations A highly successful stew3rd5hip campaign was run in 2025, which generated a significant increase in the regular planned giving to the parish. Many thanks are due to Tom Betteridge for his leadership in this campaign. The parish received a donation of £IO,C(Ki towards the refurbishment and lighting of the choirstalls In 2025. We are deeply grateful to the anonymous donor. FINANCIAL REVIEW The overall financial result for 2025 shows a surplus on the unrestricted funds of £7,654 {SOFA page 101. Taking all PCC directly controllable income and expenditure into account i.e. excepting endowments, the surplus becomes £26,4291£7.654 + £18.775 SOFA page 10}. The General Fund (which accounts for our day-to-day running costs) shows a surplus for the year of £15,492 (note 19 page 23. £230.176 - £214.684). After transfers to other funds. providing for expenditure approved by the PCC. the General fund surplus1£3.187} is retained in the General fund. The current economic climate, together with pressure on household incomes leads to signiticant uncertainty about the path ahead. The Hall & Stable Block income rose significantly during 2025, largely due to a full year5 income from the Little Fawns pre-school. The parish received a full yearfs increased rent from 40 Kindersley Way. During 2025 the parish contributed £19,884 towards the costs associated with Revd. Helen Neville's.accommodation. This figure is offset by a reduction of £9.300 in the parish quota. At St Lawrence, there was expenditure of £61.289 during 2025 on restoration work in the South Porch, repairs to the east end drainage, refurbishment of the choir stalls including new lighting. and sundry other repairs. Each of the major building items was supported by a grant from the Friends of St Lawrence. and the choir stall work by a generous donation. At both the Church hall, Bedmond and 40 Kindersley Way there was no expenditure on major items. The Property Reserve Fund at £35,874 is above the PCC required reserve level of £30,(KNJ. During 2026 the PCC is planning to complete the Choir stall works, and the Children's comer upgrade at St Lawrence, and carry out preparatory works for a Page 7 of29 Abbots Langley PCC Annual Report and financial Statements 2025 planned redecoration. No major works are planned for Bedmond during 2026. In the Churchyard, the PCC is planning to repair the Lych Gate. It is planned to launch a public appeal to cover some of the cost of this repair. For this parish. income received under planned giving (including tax recovery) totalling £120,634 {2024- £128,132) represents 52.¢yA12024- 58.0%) of our General Fund income. 2024.5 figure was boosted by recovering Gift Aid due during 2022 & 2023. Given the importance of Planned Grving to the parish, the PCC is keeping careful watch for any downward trend. We have budgeted to receive an annual equivalent income of £120,000 (including tax reliefj for 2026. The amount paid to charities and missions out of the General Fund in 2025 was £180 (2024 - £320). During 2025 the church held a Summer Fete. and we donated the proceeds of £2,170 to the Hospice of St Francis and the Peace Hospice. We donated a further £23512024 - £570) to charities from charity collections and restricted offertories. and we gave a grant to the Cttizens Advice Service in Three Rivers of £9,19212024- £9,192}. During 2025 the PCC Malawi team spent £4.407 on Malawi support activities. and raised £8,376 with fundraising events. During the year our investments decreased in value by £1.239 and at the year end the total market value of our investments was £40,59112024- £41,812). The parish quota for 2026 will be £98.40512024 - £98,631), less a c. £2,325 rebate towards the curate's housing costs. The PCC is continuing the process of identifying the major risks which itnpact on the work of the church 4n this parish. An analysis of existing controls in place to de31 with these risk5 continues to be developed by identifying further actions required to mitigate these risks. We alreadv have a safeguarding policy In place which is reviewed and revised annually and we have procedure5 in place for the handling of cash. In line with the policies decided by the PCC in 2019 the general operational reserve should have a minimum value of £35,￿0 together with a minimum value of Property reserve of £30,000. The unrestritted funds in the accounts showthat these values are being maintained, see note 19, page 23. Great thanks are due to all those who have assisted in the running of the church finances. and in particular Tom Betteridge as Planned Giving Secretary. on behalf of the Trustees May 2026 Page8 of 29 Abbots Langley PCC Annual Report and financial Statements 2025 INDEPENDENT EXAMINER'S REPORT THE PAROCHIALaiuRCH couMaLOF ABBOT5 LANGLEY I report to the trustees on my examination of the accounts of Parochial Churth Council I"PCUI for the year ended 31 December 2025 Responslbilities and basls of rÈport As members of the PCC you are re5pDnsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 Ithe 2011 Act). I report in respect of my examination of the Pcc's accounts carried (Hjt under secbon 145 of the 2011 Art. In carrying out tny examination I have followed all the applicable Directions given by the charity Commission under section 14515llbl of the 2011 Act. Independent examineVs statement Your attentlon is drawn to the fart that the PCC has prepared accounts in accordan￿ with Accounting and Reportlng by Charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Repotting by charities- Ststement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for acmunts to provide a truè and fair view in accordance wrth Generally Accepted Accountin8 Practice effertÉve for reporting periods beEinning on or after l January 2015. Slnce the PCC'S gross income exceeded £250.Cm your examiner rnu5t be a member of a body listed in section 145 of the 2Qll ACL I confirm that l am quallfied to undertake the èxamination because l am a member of The Institute of Chartered Accountants in England and Wales. which is one of the listed bodie& I have completed my examination. I confirm that no matters have come to my attention in connection with the examinatiOII giving me cause to beliève that in any material respect.. accounting records were not kept in respect of the PCC as required by sectÈon 130 of the 2011 Act,. or the accounts do not accord with those records,. or the accounts do not comply wth the applicable requirements tonceming the form and content of accounts set out in the Charities IAccounts and Reports) Regulations 2C¥)8 other than any requirement that the accounts gtve a tme and fair view which is not a matterconsidered as part of an independent exaEnination. I have no concerns and have ¢ome across no other matters in connettion wrtb the examination to which attentton should be drawTh in this report in order to enable a proper understanding ofthe accounts to reached. aryHoward FCA Howard Wilson a)artered Accountants 36 Crown Rlse Watford HertFordshlre .W0250NE Dated. I￿￿ -L Page 9 of 29 Abbots Lan8ley pccAn￿Ual Report and Finon¢l¥ Statements 2025 . STATEMENT OF FINANCIAL ACTJVMES torthe yèar ended 31st De¢•mber 2Q25 Note Unrestricted Funds Restrirted Fuods Endowment Funds TOTAL 2025 TOTAL 2024 INCOMEAND ENOOWMENTS FROM.. Dgnations and Legacies 138.109 73.757 211066 176.457 Charitable actiwties 2b 12,785 3.IlXI 15 13,323 Other activities 75.485 5.153 ,638 65,704 Investments 2d 978 5.705 other 470 470 7Q6 TOTAL INCOME 231,813 81988. 314.819 261,895 EXPENDrruRE ON= Raising fund5 8.109 1,139 9,248 5.791 Chur£h arblribes 3b 206.875 7L480 278.355 25CI,9Q8 TOTAL EXPENDITURE 214.984 71619 287,603 256,699 Ngf INCOMEIIEXPENDITUREI BEFORE GAINS AND LOSSES ON INVESTMENTS 16.829 10369 18 27.216 5,196 GAINSIILOSSESI ON REVALUATIONS GAIN51ILOSSESI ON INVESTMENTS 14 17691 14701 11.2391 1.466 NET INCOMEIIEXPENDrnJREI 16,829 14521 25.977 6,662 TRANSFERS BETWEÉ14 FUNDS 19.1751 9.175 NEfMOVEMENTIN FUNDS 7,654 18,775 14521 25.977 6.662 RECONCILIATION OF FUNDS: TOTAL FUNDS BROUGHT FORWARD 695.612 S96.825 22.f 1.315.043 1,304381 TOTAL FUNDS CARRIED FORWARD 703.266 615,6(K) 22,154 1,341,020 1.315.043 The notes on pages 12 to 29 lomi part ofrthese attouftts. Pa8e Ioof 29 . Abbots langley PCC Annual Report and Finandal Statements 2025 BALANCE SHEET AT 31st DECEMBER 2025 Note 2025 2024 FIXED ASSEfs Tangible fixed assets 13 LI(K).CKK) 1,100.000 Fixed asset investments 14 40.591 41,812 1,140.591 1.141,812 CURRENT ASSErs Debtors 16 47.776 33.054 Current asset investments 17 16,271 15.S27 Short term deposits 130.776 80.943 Cash at bank and in hand 36.402 69,279 231.225 198,803 CURRENT UABILITIES Amounts falling due within one year 18 30.796 25572 NET CURRENT ASSErs 2(Ml.429 173,231 TOTAL NET ASSETS 1.341.020 1.315,043 REPRESENTED BY Unrestritted funds 19 703,266 695,612 Restricted funds 20 615.6CO 596.825 Endowmentfunds 21 22.154 22.606 1,341,020 1,315,043 The notes on pages 12 to 29 form part ofthese accounts. Approved by the Parochial Church Council on 24th March 2026 and signed on its behalf by: P Waddell Ilncumbentl C Sanders (Treasurer) Page 11 of 29 Abbots Langley PCC Annual Report and Financial Statements 2025 NOTES TO THE FINANaALSTATEMENT5 forthe yearended 31° De￿mber 2025. I ACCOUNTING POLICIES The financial statements have been p￿Pared in accordance with the ChLtr¢h Accounting Regulations 2006. Accounting and Reporting by Charities.. Statement of RecamTllended Practice appliCat￿e to charities preparing thelr acEounts in accordance with Financi81 Reporting Stsndard applicable in the UK and Rep￿blIC of Ireland (FRS 1021 las amended for atcounting periods commencing from l January 20161. the Charities Act 2011 and appli(able regulations. The PCC 15 a Public Benefft Entity as defined by FRS 102. The financial tstements have been prepared under the hlstoriL31 cost convention except fi)r the valuation of investment a55ets, whsch are shown at marketydlue. Critical accounting estimates and judgernents In the application of the PCC'S accounting policies. the members of the PCC are required to make judgements. èstimates and assumptions about the carryin8 amount of a55ets and liabilities that are not readily apparent froni other sources. The estimates and associated assumptions are based on historical experience and othèr factor5 th* are considered to bè relevant. Actual results may differfrom these estimates. The estimates and underlying assumptions are re￿eWed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate ￿ ts￿sed where the ￿￿$lOn affects only that period, or in the pèriod of the revision and future periods where the revision affects both current and future periods. Going concern The mèmbers ¢)f the PCC as5e5s whether the use of going concem is appropriate i.e. whether there are any material uncertairbties related to events or condition5 that may cast significant doubt on the ability af the PCC to continue as a going concern. The members of the PCC make this assessment in respect of a period of at least one year .from the date of authorisation for issue of the financial stsiements and have concluded that the PCC has adequate re50urce5 to continue in operational existènce for the fi)tsseeable futu￿. Thus. the PCC tontinue to adopt the going concern basis of accounting in preparing the accounts. Funds General funds represent the fvnds of the PCC that are not subjeci to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purwse by the PCC are also Un￿Strirted. The accounts include all tram￿CtiOnS, assets and liabilitres for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are tnformal gatherings of Church members. Incomlng Resources Voluntary income und capitolsources Collections are ￿t￿gnised when re￿iVed by. or on behalf of the PCC. Planned giving receivable under covenant is recognised onlywhen received. Income trax recoverable on covenants or gift aid donations is reccenised when the incoThe 15 rewgnised. G￿ntS and legacie5 to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due Is quantifiable and it5 ultimate receipt by the PCC is reasonably certain. Funds raised by the fete and similar events are accounted for gmss. Sales of books and ma8azinesfrom the chU￿h bookstsll a￿ accounted forgross. Otherordinuryincome Rental income from letting of the Church premise5 is recognised when the rentsl is due. Page 12 of 29 Abbots Langley PCC Annual Report and Financial Statements 2025 I ACCOUNTING pouaES Icontinued) Incomefrom investment5 Dnildends are accounted for when due and pa￿able. Interest entitlements are accounted for as they accrue. Golns und losse5 on investments Realiséd gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December. Resources used Grunts Grants and donations are accounted for when paid over, or when award￿. rf that award creates a binding obligation on the pcc. Activities directly reloting to the workof the ¢hurch The diocesan quota or parish share is accounted for when payable. Any quots unpaid at 31 December is provided for in these accounts as an operational Ithough not a legall liabilityand is shown 35 a creditor in the Balance Sheet. Fixed Assets Consecrutetl lund ond buildings ond movuble churrhfvrnishings ' Consecrated and beneh.ced property is excluded froiii the accounts. No value is placed ¢Jn mowable church furnishings held bythe churchwar(lens on special trust for the PCC and which require a" faculty for disposal since the PCC considers this to be inalienable property. Ml expenditu￿ incurred during the.year on consecrated or benefice buildings and movable church furnishings, whether maintenance or improvement, ￿ written ()ff as expenditure in the SOFA and separately disclosed. Otherfixtur*s,ffttings and office equipment Equiprnent used within the church preffli5e5 is depreciated on a straight line basis over 4 years. Individual items of equipment wtth a purchase price of £1,5[￿ or less a￿ written off when the asset ￿ acquired. Investments Investments are valued at market value at 31 Oecember. Current assets Amounts owing to the PCC at 31 December in respett of fees or other incorne are shown as debtors for amtsunts less provisions for amounts that may prove uncollectable. Cash and cash equivalents include cash in hand. deposits held at call wtth banks. Other short-term liquid investments with original maturities of three months or le55. and bank overdrafts. Short term deposits include ¢ash held on depo5tt either wlth the CBF Church of England Funds or at the bank. Bank overdrafts are shown within bOrrO￿ngS in current liabilities. Finandal Instrument5 The charity ha5 elerted to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recOgn￿ed in the charity's balance sheet when the charity becomes party to the contrartual provisions of the instrument. Financial a55ets and liabilwknes are offse( with the net amounts presented in the financial ststements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basls or to realise the asset and settle the liabil(ty simultaneously. Page 13 of 29 Abbots Langley PCC Annual Report and Financial Statements 2025 I ACCOUNTING POLiaES Iwntinued Ba51c financial assets Basic fina￿[al assets. which include debtors and cash and bank balances. are initially measured at transartion price including traDsartion costs and are subsequently Ca￿led at amorti5ed c05t U5irE the effective interest method unless the arrnngement Constitut￿ a financing transaction. where the transaction is measured at the p￿sent Wdlue of the future receipts discounted at a market rate of interest. FiF)ancial assets classffied as receivable wrthin one year are not amottised. Basic ffnanci41 Ilabilities Basic financial liabilities, including uedIto￿ and bank loans are inttialty recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measltred at the present value of the future payments discounted at a ma￿t rate of interest. Financial liabiliknes classified as payable wtthin one year are not amorhsed. Debt instruments are subsequently carried at amortised cost. using the effertive interest rate method. Trade Credito￿ are obligations to pay for goods or services that have been acquired in the ordinary cOu￿e of operations from Suppliers. Amounts payable a￿ classified as current liabilitie5 if payment 15 due within one year or le55. If not, they a presented as non-current liabilities. Trade ￿dItorS are recognised Initial￿ attransaction price and subsequently measured at amtrrtlsed cost using the effective interest method. DerecoBnition of financlal liabllttles Financia5 liabilities are dèretognised when the charitres contrartual obligations expire or are distharged or can￿lled. Creditors and provisions Credittsrs and provisions are recDgni5ed where the charity has a present obligation resulting from 3 past event that wlll probably result in the transfer of funils to a third party and the amount due to settle the obligation can be measured or esknmated ￿lIablY. Creditor5 and provisiorhs are r￿rMallY recogni5ed at their settlement amount after allowing for any trade distounts due. Employee benefits The cost of any unused hDliday entidement is recognÈsed in the period in whith the employee's serVi￿S a￿ received. Termination benefits are recoEnisefl immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or toprovide temiination benefits. Pa8e 14 of 29 Abbots lan￿eY PCC Annual ReP￿t and finaTKlal Statements 2025 INCOME AND ENDOWMENTS FROM Note Unrestrirted Funds Restritted Endowment Funds Funds TOTAL 2025 rorAL 2024 DonattonsandLegoa"es Planned giving- Gift-Aided Planned giving-GAYE and CAF Planned Wving-tax recovery Planned giving- non-Gwft-Aided Collections Grants Donations. appea15. Èt Legacies 99.895 99A95 91.(XYI 17,591 3.148 17591 3,148 5.068 53,333 32,831 34.021 3,111 5.207 12,304 29,814 705 IL702 52,628 21.129 138,109 73.757 211.866 176.457 2b Charftol￿eACt1vlUes Fees Fet Social events Other Charitable Activity income 9.416 9.416 2,812 2,618 1.039 7.&7)5 3,535 1,084 809 2,812 2,618 751 12.785 3.IC¥J 15,885 13,323 OtherTn7thngAdivthS Hall & Stsble block lettings Bookstall Church Magazine 40 KW Rental income Fund-raising incom Other operating acriwties 41.692 41.692 27.854 17 2.431 21,2(Kl 8,872 5.330 2.3n 23.650 2.372 23,650 7,986 4.874 5,153 4.874 75.485 S.153 80,638 65,704 Investments Interest at)d diwdends 4364 978 18 5.960 5.7Q5 978 18 5.960 5,7C15 Other Expense recoveries other income 406 617 470 470 706 TOTAL IIKOME 231.813 82.988 18 314.819 261.895 Page 15 of 29 Abbots Langley PCCArtlK￿ Repryt ahd finantFalStarernt￿ 2025 EXPENDITURE ON Unrestricted Restrirted Endowment Funds Funds Funds TOTAI 2025 TOTAL 2024 R¢rtslnqfvnds Fete expenses Social events Fund-rassin8 exp￿SeS 40 Kindersley Way Costs 970 707 B19 379 3,886 2215 852 2,215 1.021 5,042 169 8.109 L139 9.248 5,791 3b Chvr¢h AtlivitKs Grants ar%1 donations Quots- stipends Ilncumbentl Quota- Houynglcuratel Quota- minSsiry support Curate Housing Salarles and wages Vi£ar's expense5 Curate's Èxpen5e5 Clergy assistants. expense5 Service expenses Seekers. children and youth work Magazine, Bookstall and othera(Mes Adult Mission and trainit Property runningexpenses Property rnaintenance New building work Churchyard costs Church hall costs Office costs Organlst and Directtrrof mUs￿fee5 MIS￿11a￿e0u5 Bank charges Legal and ProfessloThal fees Independent exaMi￿￿$fee 9.372 63% 15.768 38.208 19,3001 60,423 19,884 19.013 1,759 1.119 394 34.867 37.396 192001 SI￿7 19.057 17,249 I,￿2 925 43 4.051 .19.3(nl 60A23 19.884 19.013 1.759 L119 394 IA91 3.027 1,491 4.185 858 16,215 68,773 . LIS8 3,445 16,215 16,401 6L289 li 12 2.621 2,621 13.148 8?78 4.955 23,615 7.571 7,573 ,148 8,378 1,555 236 1.555 252 16 196 1,500 930 206.875 71.480 278,355 TOYAL EXPENDftURE 214.984 71619 287,603 256.699 ANAiY5150F COLLECIIOPIS UnrestrKted Re¢Jirted Endowment Funds Fund5 Fund5 TOTAL 2025 TOTAL 2024 Abbots Lan￿e¥ 8.W am 9.30 am 6.30 pm eaptisms Weddin8S Funerals Other Bedmond Charity Collecknon5 GiftAid Recovery 65 65 45 154 775 442 142 1587 819 775 319 933 1.810 769 775 319 933 1,810 769 208 5.068 5.207 Page 16of 29 Abbots Lan￿e¥ PCC Annual Report and Finantial 51atements 2025 40 KINDERSLEY WAY COSTS Unrestricted Funds Restricted Funds TOTAL 2025 ' TOTAL 2024 General Maintenance Insurance Rent management fees 1.161 517 3,364 1.161 517 3.364 913 503 2,470 S.iM2 S,042 3,886 CHARITABiE DOIJATIONS Unrestricted Funds Restrirted Funds TOTAL. 2025 TOTAL 2024 6b Chrislion Reuef & Development Malawi 4.226 4,226 23,075 Home Missions & otherchurth Sorieiles Watford Sthoofs Trust 1,260 Secuktr Churities Cttizens Advice Service in Three Rivers Emergency Appeals Fo(Kl Bank Hospico St Fianos Poppy Appeal Peace Hospice Ab￿)ts Langley Carers Breakespeare School New Hope Trust 9,192 9.192 9.192 170 1.085 1.085 30 1.085 9,192 2,170 11.362 10,532 9.372 6,396 15,768 34.867 Page 17 of 29 Abbots Langley PCCAnnual RepwtaDd Wnarnial staten￿ 2025 CHAIUTABLE DONAMONS coriL In add￿On to the above charity distributionsthe Par￿h has Organ￿ed thefol1owingcharitab￿ collethons. 2025 2024 Childrens Society. Chri5bngles DECTurkey Eart￿)Uake North Africa Floods Peace Hospice Ma£Millan cancer 214 75 281 570 5fAFFCOSTS 2025 2025 Wage5 and ￿larieS Ernployer's N1 contributions Pen&on costs 17,285 15.677 1.728 1572 19.013 17.249 During the year the PCC employed a Parlsh Adminisrratorwho did Thjt eam more thafi £60.rM)O p.a.. No membÈr of the PCC rec*ved any reimbu*sement of exper￿ or remuneration while adirg in their capacity as a member ol the pcc. Abbots L2nOÈy PCC parbcipates in thÈ Pensi¢)n Builder Scheme sÈctton of Churth Workers pen￿0￿ Fund l(WPFI for lay stsff. CWPF is 8dministered by the Church of England Pensions Board whith hohJ5 thÈ CWPF a4ets separately from those of the Employer and other ￿rri￿pating empbyers. CWPF h35 two sections.. the DefirEed Beneftts Scheme, and the PensiLX) Builderscheme. whith has two subsections- a deferred aAThttity sÈthofi known as per￿lan Builder a￿c. al￿. a baL3nce section kno￿1 as Penson Builder 2014. Both sections of the Pension Builderscheme are dassed as defined benefft 5themes. Pension Builder Classic providÈs 8 pensNJn. accumulated frtsm Eontritmjtions paid 2nd converted into a deferred aTrnulty during employment based on terTns ￿t and reviewed by the Churth of England Pènsions Baard from time to time. Discretionary increases rnay also be added, depen&ing on inve5tynent ietums and otherfactors. Pension Builder 2014 is a cash balance s￿rne that prowdes a lump sum whith members use to pro￿de benefits at retirement. Pension contribution5 ale recorded in 3n acwunt for e￿h n￿rnber. Di5creti¢n8ry boftu5e5 may be Hdded before retirement depending on investment returns and other fa£tor& The accotsn( plus any bonuses declared is payable, unreduced, from age 65. There is no 5uWdi¥ision of assets betWEen em￿0yerS In sedion of the Pension Builderscheme. The scheme Ss considÈrÈd to bÈ a multi-employer scheme as dÈsrribed in Settion 28 of FRS 102. Thi5 Is be(ause it is not POS5ilde to attribute the Pension BuildEr kherne'5 assets and liabilities to specifit e￿￿0YerS Ènd means that contributrons are atrounted for as If the Scherne we.-e a defined conthbution sthÈme. The pension5 costs charged to the SOFA in the yearare the conrribution5 Payab￿ 12025.. £1.728. 2024.. £1.5721 A wdluation of the PensKJn Builder Scheme i5 orried (xrt once every three year5. The m05t recent valuation was C2rried out as at 31 Decernber 2022. For the Pension Builder CI4551C s￿[On. the valuation revealed a surplys of £34_8m on the 0Tr8oing assumptions used. At the most TeceTht annual review effecbve l January 2026. the Board chose to gT3nt a discretionary bonus of IQN to both pensions not yet in payment and pensions in payment ith rÈ5pett of serwce prior to April 1997,. and a bonus on pen510n5 in payment in respect of post ApTiI 1997 sÈrMce so that the Fension increase w35 also IO% (where usually it would be tslculated based on inflation up to an annual cap of5% for pen5iDns kn payment in respect of setvice prlor to Apttl 2006 and 2.5% for pensions in payrnent in respertof service post April 2(K6 l. Thi5 fotlowed iffjprovements in the funding position over 2025. There is no rquirement for defitit payments at thotsjrrenttime. For the Pension Builder 2014 seaion, the valuation revealed a surplus of £85m on tiE a55urnptions Used. There is no requirement for deficti payments atihe current time. The Church of England Pen&ons Board has agreed that SQtne ernployers could we assets in the DBS of CWPF in lieu cf contributions to Pension BuikJe-. Uassic andlor Pension Builder 2014. Y(MJ vthll see this information on your DBS Statement which will be sent sepzrately. The next valua￿n 15 due as at 31 December 2025. The lègal 51ruciure of the scheme is 5uth that if another empl¢)yerfails, Abbots Langley PCC could betgtne rE5pon5ible for ￿Ying a share of that employerfs penston liabiltkne . Pay 18 of 29 Abth)ts Langley PCCAnnual Report and Finandal Statements 2025 MAGAZINE. BOOKSTALL etr. un￿tritted Funds Restrirted Funds Endowment Fund5 TOTAL 2025 rorAL 2024 Magazine Bookstall Bwk of Remembrance Flowers 2.279 2,279 2.184 565 696 1.158 3.027 1,158 4,185 Income Expenditure SurplusllDefi¢itl 2025 2024 Magazine Bookstall Book of Remembrance Flowers 2.372 12.2791 93 247 17 [15) {lloJ 835 1,748 17481 11.1581 87 590 5,019 14.1851 834 139 RUNNING EXPENSES Unrestricted Funds Restricted Fund5 Endowment Funds TOTAL 2025 TOTAL 2024 Abbots Langley Insurance Heating Lighting Water Caretakèr 4.324 4.199 2.364 392 2,072 4,324 4.199 2,364 392 2.072 4,133 4.732 2,644 342 2,136 13.351 13,351 13,987 Bedmond Insurance Heating and Ltghting Water 503 2.142 219 503 2,142 219 423 1,782 209 2,864 2.414 16.215 16,215 16,401 The costs associated with 40 Kindersley Way are detailed in note 5 Page 19 of 29 Abbots Langky PCCAnnual Report and Fhancizl Statèments 2025 io MAINfENANCE Unreslritted Funds Restricted Funds Endowment Funds TOTAL 2025 TOTAL 2024 Abljots Lonqley General Maintenan Major repairs Breakspeare room Organ tuning Architett's fee 6.Y)I 8.751 56.562 6.974 3,696 56.562 343 2,877 2,877 2,394 7.244 61.289 68,533 13,707 General Maintenan M3jOT repairs Architert's fee 240 240 436 240 240 436 61.289 68.773 14.143 The costs associated with 40 Kindersley Way are detailed in note 5 li CHURCHYARO EXPENDITURE Unrestricted Funds Restricted Fund5 Endowment. Fun¢ TOTAL 2025 TOTAL 2024 Repairs Gr￿5 Cutting Petrol and oll Tree lopping Equipment Mis￿lIaneOUS 1.278 1.278 1654 77 128 1.266 1,266 113 2.621 2.621 4,955 During the year the PCC T￿1V￿j 8 grant of£3.500 from Abbots LanOey Parish Counol towards the cost of maintsining the cPttErchyard, and a grant of E130 from the Commonwealth War Graves tmst. Pa8e 20 of 29 Abbot5 Langley PCC Annual Report and Financlal Statements Z025 12 CHURCH HALL EXPENDITURE Unrestricted Funds Restrirted Funds TOTAL 2025 TOTAL 2024 Cleaner Headng ghting Water General Maintenan Major repairs Insurance Miscellaneous 3.204 1,162 3.204 1.162 1,900 381 2,979 3.262 1,314 1,773 332 8.556 5,231 3,082 65 381 2,979 3.459 63 3,459 63 13.148 13,148 13 FIXED ASSETS The Unrestricted Fund Land and Buildin8s comprises the clergy house at 40. Kindersley Way, Abbots Langley. The property was revalued at 31st December 2020 by Yourmove on an open market basis in the sum of £550,0(L). It vias purchased in 1985 at a cost of £112,060. The Restricted Fund consists of the Church Hall. Church office and the stable block located behind St Lawrence ChLrrch. The property. part of which was let throughout 2025 to a local charity, was revalued at 31st December 2010 by Brasier Freeth. Chartered Surveyors in the sum of E550,000 after making allowances for restrictions on it5 Use. its historic cost was £422,216. The PCC are not aware of any material changes since the last valuation of the church hall. Freehold land and buildir)8S Unrestricted. Restricted Total GROSS BOOK VALUE At 1st January 2025 Additions Disposals Revaluation s50.￿0 550.(XIO I,ioo,000 At 315t December 2025 ss0.(xK) 550,(K)O I,ioo,000 DEPRECIATION At Istjanuary 2025 Charge for the year Eliminated on disposal At 31st December 2025 NET BOOK VALUE At 31st December 2025 550,LKJO 550,000 I,1￿,0 At 31st December 2024 550.(X 550,000 1,100,000 Page 21 of 29 Abl)ots Lan8ley PCC Anth￿1 Report and Financia Ststements 2025 14 XED ASSET INVESTMEiirs Ma￿1 Incorne Wthdmval Changein VduB Market 2024 Value Market Value 2025 CBF Investment FLsnd Warmemonal F(md (EThkn¥￿l CBF Investrr￿ Fund Churth H8IIFund (Endow￿) CBF Investment Fund Church Hall Fund {Endowm8nt) CBF Investsnent Fun Church H811 Fund (Er1