Registered Charity Number: 1130673
THE PAROCHIAL CHURCH COUNCIL OF THE
ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
TRUSTEES REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
BEEVER AND STRUTHERS
CHARTERED ACCOUNTANTS

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
Contents
Page
PCC members and advisor5
Report of the PCC
Statement of the PCC Responsibilities
Report of the independent examiners
Statement of Financial Activits'es
Balance Sheet
Statement of Cash Flows
Notes to the Financial Statements
10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
PAROCHIAL CHURCH COUNCIL MEMBERS AND ADVISORS
FOR THE YEAR ENDING 31 DECEMBER 2024
Incumbent and Chalr of PCC
Revd Malcolm Macdonald
Curate
Revd Matt INThite
Revd Ruth How (appointed September 2024)
Hon Curate
Revd Hugh Taylor (deceased March 2024)
Churchwardens
Michael Smith
Louise Kuilenberg
Sylvia Williams (resigned January 2024)
Asslstant Churchwardens
Paul Curry
Natasha Poraj (resigned 16 April 2024)
Elected Members
Richard Milne- Treasurer and Vice Chair
David Dronsfield
Samantha Clayfield (resigned 16 April 2024)
Brenda Miller
Pauline Manning
Jonathan Brown (resigned 16 April 2024)
Matthew Ayers
Rob Evans (resigned 20 November 2024)
Chris Elwes (appointed 16 April 2024)
Joy Washington (appointed 16 April 2024>
Richard Payne (appointed 16 April 2024)
Phil Woolston (appointed 16 April 2024)
Co-optèd Members
Amanda Hart - PCC Secretary
Repr6sentatlves on the Deanery Synod
Carol Hartley
Brooke Smith
Sylvia Lambden
Deborah Lake (resigned 16 April 2024)
Contact Address
201 High Road
Loughton
Essex
IG10 1BB
Independent Examlners
Beever and Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
REPORT OF THE PAROCHIAL CHURCH COUNCIL
FOR THE YEAR ENDED 31 DECEMBER 2024
PCC Chalrman's Report - 2024
Objectives
The objectives of the charity are promoting the mission of the church in the ecclesiastical parish.
2024 Reflectlons
We started the year with a vision n￿ht called, 'Prepare the Way,. This came with a real sense of preparing
ourselves for God to move among us and in the community. God is calling us to get ready for what He wants
to do.
This was the year of my second sabbatical while leading St Mary's. l am so grateful to Revd Matt White for his
leadership of the church during my leave. He did a great jobl I felt I gained a tremendous amount from the
sabbatical (May-Julyl. These happen every ten years and are a real gift. I focu5sed on 'soul work,, rest and
developing my relationship with God.
Highlights to give thanks for..
Hope Central- through tough times, Hope Central is growing and loving our 18-30s.
St Mary's onllne.. our YouTube channel has grown to 310 subscribers
Café Hope.. Ihis is busi&r than ever with income of £49,627 and expenditure of £42,420. We see
hundreds of people each week coming into Café Hope, making it our single biggest hub of oulreach
as a church. We have 3 parl lime staff and a team of around 16 volunteers.
Growlng Hope.. our heart for accessible church has been growing and after belng assessed, St Mary's
achieved a Silver Award from Growing Hope for being an accessible church for people with various
access needs.
Church Weekend: we had fun with over 100 people this October aswe focussed on ourchurch family
and going deeper together.
New patterns of supervlslon and retreat: after sabbatical l am changing by increasing my patterns
of prayer, rest and retreat. l am also now receiving monthly pastoral and leadership supeNi8ion from
an external and qualified Christian leadership coach. This is proving very helpful.
Worshlp for Everyone: we have b8en seeking to build a team and really improve our regular all-age
worship.
X Collectlve: St Mary's gol funding to send 4 people, on 4 special conferences over 2 years to enable
us to be an apostolic hub and prepare for revival. This is in partnership with around 30 other churches
across the country.
New Wlne: We took another group from St Mary's to New Wine.
Church Famlly Plcnlc- this moved to Hainault Country Park this year.
Harvest Cream Tea for 8:46am congregatlon.. We had an amazing tea with people from the early
service.
Pastoral calls: Matt and Malcolm made phone calls to Ihe entire congregation.
Alllance Worklng Group.. Malcolm has been asked to join this working group with a focus on prayer
for the Church of England.
Alternatlve Eplscopal Oversight- In January 2024, the PCC decided to seek AEO. This is due to a
loss of confidence in our Diocesan Bishop. Pete Broadbent now serves as our spiritual oversight,
rather than Gull. We remain under the leadership of Adam (Bishop of Bradwell) more locally.
Ignite chlldren & youth - We have 94 under 18s on the ignite registers.
Schools work- we led Assemblies in Oaklands. Stsples Rd and Davenant Schools.
Baptisms- we had 8 full immersion baptisms this year.
Chrlstlanlty Explored- we had another ex￿lIent course this year, with people Goming to know Christ
as their Saviour.
10140 Prayer- we had over 80 people praying through Lent together.
Gift Days- th& church raised nearly £60k across two seasons of giving.
CTL - we have hosted leaders, meetings, prayer and worship across our churches in Loughton.
Llght Party- we had our biggest ever Light Party. Over 120 people came.
Chrlstmas - we welcomed over 3,800 people onto our site during late November.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
REPORT OF THE PAROCHIAL CHURCH COUNCIL
FOR THE YEAR ENDED 31 DECEMBER 2024
Staffing & Leadershlp
The PCC. which has the responsibility, together with the Vicar, to promote the mission of the Church within
the Parish, mel eight times during the year. The Standing Committe& met five times during the year as the
axecutiv@ of the PCC.
Ignite ministry was also led in 2024 by a Leadership Team.. Brooke Smith (youth), Sam Clayfield (pr&-school
ages) and Eleni Constantinou (primary ages). The team included Michelle Stanesby (ignite Administrator),
Matt White (Curate) and Malcolm Macdonald (Vicar).
There were a number changes to the staff team in 2024.
Revd Hugh Taylor passed away in March 2024. Hugh was a pillar of St Mary's and continues to be
much missed. May Hugh resl in peace and rise in glory.
Paola Rees stepped back from being Livlng Hope Assistant as she was moving to Reading and was
replaced by Mandy Chastell.
Brooke Smith stepped back from Café Hope Coordinator to work again for BA, and was replaced by
Lieu Nguyen. Also, Karen Barber was appointed as a second Cafè Hope Missioner.
Revd Ruth How was ordained a Deacon and serves as a locally deployed, self-supporting Minister
here at St Mary's.
We sent out Revd Deborah Lake who was ordained a Deacon and serv6s as 8 locally deployed, self-
supporting Minister al St Michael's, Loughton.
There are also a few people to mentlon who are not technically on the staff team but are really part ofthe team
as far as l am concerned. They are doing phenomenal work on a daily basis.
Yvonne Merle has stepped back from daily leadership of Little Lambs. D61phlne Kennedy and now
Jenny White leads Little Lambs with such patience, care and love.
Ken Bartells, Diana Dodds and Juli8 Huff play th8 organ 6ach Sunday at the 8.'45am, whlch Is very
much apprecialed.
Publlc Benellt
The trustees confirm that they have complied with their duty under section 17 of the Charities Acts 2011 in
respect of public benefit guidance published by the charity commission.
Pollcles for the recrultment, appolntment, Inductlon and tralnlng of new staff.
The following applies to appointments made by St Mafy's PCC.
Clergy appointments are made by the diocese and separate arrangements apply to these.
The filling of other posts is decided by the PCC. Vacancies are advertlS8d internally and, if
appropriate, externally as well. A job description is used for each post and selection is made using
application forms. references and an interview panel.
The appointment decision rests with the panel. Appointments are normally subj8Ct to a trial period
and DBS checks are undertaken as appropriate before appointment. Each employee has a formal
statement of their principal terms and conditions of employment.
Line managers conducl appraisals for all our staff each year.
Induction is tailored to individual roles and needs. We have a budget for training and formal training
is provided a5 necessary.
Financlal Report for 2024
I want to underline my thanks to the church family for continuing to give. As l am sure you will appreciate, even
when closed, we have significant monthly expenses. and your generosity helps us keep going. It costs a lot to
run Sl Mary's.
Again, this year, we have had a number of factors that have drained our usual finances:
Some reduction of regular Standing Order income.
A number of larger donors have moved on or passed away in recenl years.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
REPORT OF THE PAROCHIAL CHURCH COUNCIL
FOR THE YEAR ENDED 31 DECEMBER 2024
We are aware that we are alway8 called to be generous and sacrificial in giving. We are glad to report that we
have been able to meet our essential spending requirements and be generous. It is important to remember
that as a church family we depend on the giving of God's people to sustain mission and ministry.
We paid our full cosl of ministry to the Diocese during the year and were able to support St Michaels parish
share significantly. We also supported a significant number of Mission Partners as well as helping people in
need on a discretionary basis.
Once again, I would like to thank our finance team for 2024. They have all served voluntarily and with integrity
and commitment. Many thanks to Richard Milne (Treasurer), Martin Huff (Finance Administrator) and Nicola
Leach (Payroll Administrator) for their outstanding quality of work in fulfilling their role of keeping St Mary's
finances in good order. Thank you also to Zac Cook for overseeing Gift Aid and also a big thank you to Peter
Blake and Zac Cook who oversaw Sunday offerings.
Regular checks are made (by the finance team. PCC and Standing Committee) on the spending against the
budgel and we are always seeking lo take measures to reduce wastage.
The total income rec8iv8d in 2024 was £402,966, with expenditure being £464,602. These figures take inio
account a £82,676 depreciation value. Our cash reserves on 31 December 2024 stood at £118,556,
Total reserves at 31 December 2024 stood al £2,223,319 (2023: £2,284,955) and comprised of restricted
funds of £2,088,205 (2023.. £2,071,943) and unreslricted funds £135,114 (2023.. £213,012). The Trustees
review th8 charity's reserves policy annually and aim to hold three months of fixed staff and runnlng cosls.
We do encourage every member of St Mary's to give generously. We are grateful for the generosity of the
church family and know we can be confident Ihal God will provide.
Once again, thank you Sl Mary's for everything in this year we will never forget. You are amazing. Praise the
Lordl
On behalf of the PCC of St. Mary the Virgin, Loughton
R8vd Malcolm Macdonald {PCC Chair)
111 tsLLd- IMLQ6L

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
STATEMENT OF THE PAROCHIAL CHURCH COUNCIL'S RESPONSIBILITIES
FOR PREPARATION OF THE FINANCIAL STATEMENTS
The Parochial Church Council is responsibEefor preparing the Annual Reportand the financial statements
in accordan￿ with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Council to p￿pare financial statements
for each financial year which give a true and fair view of the state of affairs of the church and of the
incoming resources and application of reSoUr￿S of the church for that period. In preparing these financial
stalements, the Council is required to:
select suitsble accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.
make judgments and estimates that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements, and
prepare the financial statements on the going concem basis unless it is inappropriate to presume
that the church will continue in operation,
The Council is responsible for keeping suffi'cient accounting records that disclose with reasonable
accuracy at any time the financial position of the church and enable them to ensure that the financial
statements comply with the Charities Acl 2011 and the Church Accounting Regulations 2006. They are
also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
INDEPENDENT EXAMINER'S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE
ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN LOUGHTON
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31
December 2024 which are set out on pages 7 to 20.
Respectlve responsibllltles of trustees and examlner
The trustees are responsible for the preparation of the accounts. The trustees consider 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. The charity's gross income exceeded £250,000 and l am qualified to undertake the
examination by being a qualified member. It is my responsibilily lo:
examine the accounts under section 145 of the 2011 Act.,
to follow the procedures laid down in the general Directions given by the Charity Commission under
section 145(5){b) of the 2011 Act. and
to state whether particular matters have come to my attention.
Basis of Independent examlner's report
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 disclosure5 In
the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures
undertaken do nol provide all the evidence that would be required in an aljdit and consequently no opinion is
giv8n as to whether Ihe accounts present a 'true and fair view, and the report is limited lo those mallers set
out in th8 next statement.
Independent examlnerfs statement
In connection wlth my examination, no matter has come to my attention..
11) which glves me reasonable cause to believe that in any material respect the requirements..
to keep accounting records in accordance with section 130 of the Charities Act 2011,. and
to prepare accounls which accord with the accounling records and comply wilh the accounting
requirements of the 2011 Acl have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper underslandlng of the
accounts to be reached.
Helen Blnns FCA
Beever and Struthers
Chartered Accountants
One Express
1 George Leigh Street
Manchester
M4 5DL
Date: 25 March 2025

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Unreslrktad
lunds
Restricted
R￿tnCt8rf
R8Stiict￿I
R&slrfcted
Centre
Liwng Hop¢
hurch Hall
0tt)8r
Tolal
Total
Note
Income and
endowments from:
Donations and
legacies
Charitable aclivities
Investments
Other
289.261
289,261
300,679
45,574
4,399
50,144
3,375
48,949
4,399
60,367
40,027
3,653
69,833
g,613
Total Income and
èndowments
389,978
3,375
9.613
402,966
414,192
Expendlture on:
Raising funds
Charitable activitl8S
other
45,378
357,204
45,378
419,224
45,091
422,727
11,975
21,259
3,181
35,140
2,440
Total expendlture
402,582
21.259
3,181
35,140
2,440
464,602
479,793
Transfers
(65,294)
42,122
22,024
1,148
Net movement In
funds
(77,898)
20,863
194
(13.116)
8,321
(61,636>
(65,601)
Reconclllatlon of
funds:
Total funds brought
forward
15
213,012
893,442
1,178,501
2,284.965
2,350,556
Total funds carrled
fonvard
135,114
914.305
194 1,165,385
8,321
2,223,319
2,284,955
All Income and expenditure derive from continuing activities.
The statement of financial activities Includes all gains and losses recognised during Ihe year.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Flxed assets
Tangible assets
12
2.099,698
2,160,235
2,099.696
2,180,235
Current assets
Debtors
Cash at bank and in hand
13
15,638
118,556
4,855
129,318
134,194
134,173
Credltors: amounts falllng due wlthln one year
14
110,571)
<9,453)
Net current assets I Illabllltles)
123,623
124,720
Total assets less current Ilabllltles
2,223,319
2,284,955
Net assets I Illabllltles)
2,223,319
2,284,955
Charlty Funds
Restricted funds
Unrestricled funds
15
15
2,088,206
135,114
2,071,943
213,012
Total charlty funds l (deflclt)
15
2,223,319
2,284,955
The financial statements were approved and authorised for issue by the Truslees on
Signed on behalf of the board of tru8tees'.
Name: Malcolm Macdonald
Name: Richard Milne
Role.. PCC Chair
Role.. PCC Treasurer
Date..
Date..
11 10
The notes on pages 10 to 20 fom part of these financial statements.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN
LOUGHTON
STATEMENT OF CASHFLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Note
Cash flow from operatlng activities
17
(13.025)
<2,938)
Net cash flow from operatlng actSviti8S
(13,025)
(2,938)
Cash flow from investlng actlvities
Payments to 8cquire tangible fixed assets
(2,136
(18,704)
Interest received
4,399
3,653
Nat cash flow from Investlng actlvltles
2,263
115,051)
Cash flow from flnanclng actlvltles
Net cash flow from flnanclng actlvltles
Net Increase l (decrease) In cash and cash equlvalents
110,762)
(17,9891
Cash and cash equlvalents at 1 January
129,318
147,307
Cash and cash equlvalents at 31 December
118.556
129,318
Cash and cash oqulvalents conslsts of:
Cash at bank and in hand
Short term deposits
118,556
129,318
Cash and cash equlvalents at 31 December
11 B,556
129,318

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PRINCIPAL ACCOUNTING POLICIES
Basls of accountlng
The financial statements have been prepared under ihe historical cost convention on an accruals
basis. The financial statements have been prepared in accordance with the Charities Act 2011,
Church Accounting Regulations 2006 together with the Financial Reporting Standard FRS 102
and the Charity Commission Statement of Recommended Praclice.- Charities SORP IFRS 102).
The address of the registered office is given in the charity infonnation on page 1 of these financial
statements.
The charity constitut8s a public benefit entity as defined by FRS 102. The financial statements
have been prepared in accordance with Accounting and Reporting by Charities., Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} issued on
5 October 2018 the Financial Reporting Standard applicable in the United Kingdom and Republic
of Ireland (FRS 102), the Charities Act 2011. and UK Generally Accepted Accounting Practice.
Incomlng resources
Giving and other voluntary income, rent. room hire and advertising income is recognised when it
is receivable. Gift aid refunds were also shown on an accruals basis.
Funds raised through feles and similar events are accounted for gross with associated expenses
Shown on the accounts.
Legacles
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or
the legacy being received. At this point income is recognised. On occasion legacies will be
notified to the charity however it is not possible to measure the amount expected to be distributed.
On these occasions, the legacy is treated as a contingent asset and disclosed.
Grants recelvable
Revenue grants are credited to the income and eXper￿lture account over the period to which
they relate.
Outgolng r8sources (expendlture)
Expenditure Is recognised when it is due (accruals basis) not when it is paid. Amounts are stat&d
inclusive of VAT as the church is unable to recover this.
Tangible assets
a) Consecrated and beneficed property is excluded from the accounts under Section 10 of the
Charities Act 2011.
b) No value needs to be placed on moveable church fumishings held by the Vicar and
churchwardens on special trust for Ihe PCC which requires a diocesan faculty for disposal.
c) The Parish Centre building is held by the PCC as trustees for the Diocese of Chelmsford and
the property is therefore not included as an asset of the PCC. Expenditure on repairs,
renewals, maintenance and imFxovements for each building has baen treated as revenue
expenditure as incurred.
10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PRINCIPAL ACCOUNTING POLICIES (continued)
d) The new church hall has been constructed and has been capitalised as expenditure was
incurred. The building will be depreciated at 2Yo per annum.
e) Other equipment and assets used by the church has historically been charged to revenue
expenditure as incurred rather than depreciated over its useful life. From 1 January 2006
expenditure above £5,000 on equipment and other assets will b& capitalised and depreciated
over its estimated useful life of five years.
Q The Hope Centre has been constwcted and has been capitalised as expenditure was
incurred. The Hope Centre will b8 depreciated at 20h per annum and the equipment for the
Hope Centre will be depreciated at per annum.
Debtors
Amounts recelvable (or paid in advance) at the end of the period are included in the accounts
under debtors. These Include invoiced service and prepaid expenditure.
Llabllltles
ATllounts payable at the end of the period are Included in the accounts under amounts payable
within or after one year as appropriate. This includes amounts due to suppliers and accrued
expenditure {due but not invoic8d).
Restrictèd and deslgnated funds
Funds received for specific purposes are funds restricted for use for that purpose. The Parochial
Church Council may designate part of the accumulated surplus for certain purposes. In either
case those funds are shown separately in the accounts.
Parochlal Church Councll remunèratlon
Durlng the year the church employed one full-lime operations manager and one part time Cafe
Manager who were members ofthe PCC. However. remuneration was not receiv8d in respect of
thelr capacity as PCC members or Representatives, these costs are shown under note 18.
othe￿iSe, no PCC members received any remuneration during the year.
Staff costs
The church employed a Cleaner, a Caretaker, an Admlnistrator and Worship Director, an
Operations Manager, a Café Hope CTrordinator. two Café Hope Missioners, a Living Hope Co-
ordinator, a Living Hope Assistant and an Administrator for Ignite Children's Minislry. The cosls
are shown in the accounts in notes 10 & 11.
Clergy are paid by the Diocese and are not employees of Ihe Parochial Church Council.
Expenses incurred by the clergy on behalf of the church are reimbursed and shown in note 9 to
the accounts.
Golng concern
The financial statemerrts have been prepared on a going concem basis as the trustees believe
that no material uncertainties exist. The trustees have considered the level of funds held and the
expected level of income and expenditure for 12 monlhs from authorising these financial
statements. The budgeted income and expenditure is sufficient with the level of reserves for the
charity to be able to continue as a going concem.
11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PRINCIPAL ACCOUNTING POLICIES (continued)
Judgements and key sources of estlmation uncertalnty
The following judgements (apart from those involving estimates) have been made in the process
of applying the above accounting policies that have had the most significant effect on amounts
recognised in the financial statements..
Income is recognised when it is probable that it will be received at the best estimate available,
e.g, Gift Aid recoverable based on donations rec8ived.
The key assumptions conceming the future and other key sources of estimation uncertainty at
the reporting dale that have a significant risk of causing a material adjustment lo the carrying
amounts of assets and liabilities within the next financial year include:
Tanglble flxed assets. Tangible fixed assets are depreciated over their us8ful lives taking
Inlo account residual values, where appropriate. The actual lives of the assets and residual
values are assessed annually and may vary depending on a number of factors. In re-
assessing asset lives, factors such as technological innovation, Product life cycles and
maintenance programmes are taken into account. Residual value assessments consider
issues such as future market conditions. the remaining life of the asset and projected disposal
valu&s.
FlnanGlal Instruments
Financial instruments such as accounts payables. accounts receivables and cash are classified
either as basic or complex. All financial instruments are initially measured at thelr fair values at
the time the transactions occur. Subsequently all basic instruments are measured at amortlS8d
cost and all comp18x financial instruments are measured at a fair value through the
comprehensive income.
Financial instruments held by the charity are classified as follows..
Flnancial assets Such as cash and receivables are classified as receivables and held at amortised
cost using the effective Interest method.
Financial liabilities such as payables are held at amortised cost using the effective interest
method.
12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donatlons and legacles
2024
2023
Gifts (Gift Aid}
Direct giving
Gift aid recovery
137,833
49,804
148,613
49,840
Gifts (Non Gift Aid)
Direct giving
Legacies
101,624
102,226
289,261
300,679
Income from charltable activlties
2024
2023
Rent and lettings
Away weekend
Other activities
Other functions
Ignite
19,621
3,491
73
23,609
2.255
22,977
243
14,013
2,794
48,949
40,027
£3,375 (2023.. £9,633) of the other functions income is restricted.
Income from Investments
2024
2023
Bank interest and dividends
4,399
3,653
4,399
3,653
other Income
2024
2023
Church fees received
Coffee shop
Grant received
1,117
49,627
9,613
1,700
42,951
25,182
60,357
69,833
£9,613 of grant received is restricled.
13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysls of resources expended
staff Costs
Other
Direct
Costs
Other
Allocated
Costs
Total
2024
Total
2023
Cost of
eneratln
Coffee shop
Cost of functions
funds
25.390
19,988
45,378
45,091
26,390
19,988
45,378
45,091
Charltable actlvltles
Missionary & charitable
work
Parish running cost
Church support cost
Governance costs
Youth work
15,300
16,300
13,270
101,210
107,018
63,037
1,501
8,290
164,247
218,001
8,290
178,877
210,963
6,816
12,801
422,727
109,482
10,351
119,833
226,563
72,828
419,224
her
Church roof repairs
11,975
11,975
Total expenditure
145,223
246,651
72,828
464,602
479,793
Governance costs
2024
2023
Trustee expenses
Independent examiners remuneration (including expenses and
benefits in kind)
4,834
3,456
3,576
3,240
8,290
6,816
Trustees do not receive a remuneration as Trustees. They are reimbursed for incidental expenses.
14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examlners remuneration
The independent examiners remuneration amounts to an independent examination fee of £2,880
(2023 - £2.700) excluding VAT.
Trustees. and key management personnel remuneratlon and expenses
The reimbursement of the expenses of trustees Malcolm Macdonald, Ruth How and Matt White was 8S
follows:
2024
2023
Number of Trustees
2023
2022
Subsistence
4,834
4,834
3,576
3,576
10 Staff costs and employee beneflts
The average monthly number of employees during the year ending 31 December was as follows..
2024
2023
Number
Numb&r
Ralsing funds
Charitable activities
The total slaff costs and employees benefit's was as follows:
2024
2023
Wages and salaries
Social security
Penslon
139,726
7,918
3,920
131,932
7,378
4,293
151,565
143,603
15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Staff costs and employee benefits
No employees received total employee benefi'ts of more than £60,000.
12 Tanglble flxed assets
FuTniture
and
Equipment
Hope
Centre
Equipmenl
Church Hall
Church
Organ
Hope
Centre
Total
Cost
Al 1 January 2024
Additions
At 31 December 2024
1,757.042
107,142
2.136
109,278
22.115
1,062,936
20,694
2,969,929
2,136
2,972,066
1,757.042
22,115
1,062,936
20,694
Depreciation:
Al 1 January 2024
Charge for the year
At 31 December 2024
556.518
35,140
591,658
91,843
4,802
96,646
13,267
1,474
14,741
127,372
21,259
148.631
20,694
809,694
62,675
872,369
20,694
Net book value:
At 31 December 2024
1,165,384
12,632
7,374
914,305
2,099,696
At 31 December 2023
1,200,524
15,299
8,848
935,564
2,160,235
13 Debtors
2024
2023
Gift aid recoverable - St Mary's
Prepayments
Accrued income
12,195
1,643
1,900
3,245
1,610
15,638
4,855
14 Credltors: amounts falllng duè wlthln one year
2023
2022
Accruals
Other creditors
7,821
2,750
7,303
2,151
10,571
9,453
16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Fund reconclllatlon
Unrestrlcted funds
Balance at
31
December
2023
Balance at
31
December
2024
Income
Expenditure
Transfer
Unrestricled
213,012
389,338
(402,582)
(65,294)
135,114
Total
213,012
389,338
1402.582)
165,294)
135,114
Restricted funds
Balance
at31
December
2022
Balance at
31
December
2023
Income
Expenditure
Transfer
Hope Centre
893.442
{21,259)
42.122
914,305
Llving Hope
3,375
(3,181)
194
Church Bulldlng
1.178,501
{35,140)
1,185,385
Other r8Stricled
9,813
(2,440)
1.148
8,321
Total Restrlctsd
Funds
2,071,943
12,988
162,019)
65,294
2,088,206
Fund descrlptions
a) Unreslricted funds
Funds to be used in the ordinary course of the business of Ihe charity.
bl Restricted funds
Funds received for specific purposes are funds restricted for use for that purpose:
The church building fund represents the value of the building and its fixtures and fittings.
The Hope Centre fund represents the value of Ihe building and its fixtures and fittings.
The Living Hope fund represents grant received for the specific purpose of meeting the costs of
the Living Hope Projecl.
17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
Fixed assets
Cash and current investments
Other current assets I liabilities
20,007
110,040
s,[￿7
2,079,689
8,516
2,099,696
118,656
5,067
Total
135.114
2,088,205
2,223,319
17 Reconclllatlon of net Income l (expendlture) to net cash flow from operatlng actlvlties
2024
2023
Net income l (expenditure) for year I period
(61,6361
{65.601)
Interest receivable
Depreciation and impairment of tangible fixed assets
(Increase) I decrease in debtors
Increase I (decrease) in creditors
(4,399)
62,676
110,784)
1,118
(3,652)
66,299
{386)
1,402
Net cash flow from operating activities
(13.0251
(2,938)
18 Related party transactlon8
Related parties to be disclosed under Charity SORP 2019 is the relationship between the Chairman
Malcolm Macdonald and Living Hope Coordinator Caroline Jane Macdonald.
18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Related party transactlons Icontinued)
Information about related party transactions and outstanding balances is outlined below..
Outstanding
balances
Income
Expenditure
Commitments
Sharon Milne, spouse of Treasurer and
Vice Chair Richard Milne, provided
Counselling Services
At end dale 2024
Al end dale 2023
240
The following employees are also trustees or Representslives on the Deanery Synod. The trustees ar&
satisfied that all salaries are either at or below market rate for similar roles in the area.
Name
Posltlon
Gross pay
Employèr
Penslon
Amanda Hart
Operations Manager and PCC
Secretary
30,791
737
Brooke Smith
Representatlve on the Deanery
Synod
11,064
194
Total
41,855
931
The following employees are related parties via family connections to either the truste8s or key
management personnel. The trustees are satisfied that all salaries are either at or below market rate
for Similar roles in the area.
Name
Relatlonshlp
Gross pay
Employer
Penslon
Caroline Jane
Macdonald
Spouse
Macdonald
of Chairman
Malcolm
14,632
252
Total
14,632
252
19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY THE
VIRGIN LOUGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
19. 2023 Statement of Flnanclal Actlvities
Vnre$thct￿l
Restslcled HopD Reslrictsd
Cgnlvj
Hopa
Réstr¥oled
funds
Church Hdl
Total
Income and endowments
from:
Donations and legacies
Charitable activities
Investments
Other
300,679
30,394
3.653
69,833
300,679
40,027
3,653
69,833
9,633
Total Income and
endowments
404,559
9,633
404,659
Expendlture on:
Raising funds
Charitable activities
Other
45,091
347,659
11.975
45,091
422,727
11,975
21,258
18.670
35,140
Total expendllur8
404,725
21,258
18,670
35,140
479,793
Transfers
(3,208
3,208
Net movement In funds
(3,374)
(21,258)
(5,829)
(35,140)
165,6011
Reconclllatlon of funds..
Total funds broughl forward
216,386
914,700
5,829
1,213,841 2,350,566
Total funds carrled forward
213,012
893,442
1,178,501
2,284,965
20