Charfty number: 1130679 THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LElGH-oNEA UNAUDITED PCC MEMBERS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 VINTwfys
THE PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs LEIGHNEA CONTENTS Page Reference and administrative detalls of the PCC, its PCC members and advisers PCC members. report Independent examiner's report Statement of financial activities Balance sheet 10 Notes to the financial statsments 11-24
THE PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs LEIGH-ON-SEA REFERENCE AND ADMINISTRATIVE DETAILS OF THE PCC, ITS PCC MEMBERS AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 PCC memb8rs Fr. David Wylie, Chaimian Mr Michael Bridge Mrs Kate Baynes Mrs Carol Dowsett (resigned 26th May 2024) Mr Peter Fisher Mr Donald Fraser Mrs Loma Green Mr John May Mrs Tracey Miller (previously Searle) Mr James St John Marfell Smith Mr Peter Maddox Mr David Stowe Mrs Lucia Curthoys Mr John Lamb (appointed 26th May 2024) Charlty reglstered number 1130679 Principal office St Margarets's Vicarage 1465 London Road Leigh on Sea Essex SS9 2SB Independent examiner stuart Rowson FCA Venthams Chartered Accountsnts Millhouse 32 - 38 East street Rochford Essex SS4 1DB Bankers Santander UK PIC Bridle Road Bootle Merseyside G1ROAq National Westminster Bank PIC 250 Bishopsgate London EC2M 4AA Page 1
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGHQN4EA PCC MEMBERS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The PCC members present their annual report together with the financial statements of the The Parochial Church Council of the Ecclesiastical Parish of St Margaret's, Leigh on Sea for the 1 January 2024 to 31 December 2024. St Margaret's Church is situated in Leigh-on-sea Essex, in the Deanery of Hadleigh in the Episcopal Area of Bradwell in the Diocese of Chelmsford. The correspondence address is St Margaret's Vicarage, 1465 London Road, Leigh-on-sea, Essex SS9 2SB. The parish website is at www.saintmargaretsleigh.org. The PCC also operates under the name of The Parochial Church Council of St Margaret's, Leigh on Sea. st Margaret's Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent in promoting within the ecclesiastical parish the mission of the church in its pastoral, liturgical and evangelistic dimensions. The PCC is also specffically responsible for the maintenance of the church, church hall and other properties of St Margaret's, LeIghnea. Objectives and activltles a. Policies and objectlves The PCC is committed to enabling as many people as possible to worship both within the church and through the parish. The PCC has a cooperative oveNiew of worship and how our liturgical and wider mission may involve the many groups that live and work within our parish. Our worship has a sacramental and scriptural focus and encourages faith in personal prayer and action. When planning our acttvities for the year we considered the Charity Commission's guidance on public benefit and. in particular the supplementary guidance on charities for the advancement of religion. b. Strategies and actlvltles for achieving objectives We strive to enable ordinary people to live out their faith as part of our parish community through: Worship and prayer, learning about the gospel; and developing their knowledge and trust in Jesus. Provision of pastoral care for people living in the parish Missionary and OLrtreach work To facilitate this work, it is important that we maintain the fabrtc of the church of St Margaret and the Church Hall. c. Volunteers We would like to thank those who have felt able to continue to volunteer this year in various ways to keep our parish going forthe sake of others and the wider community. Page 2
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA PCC MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance a. Main achievements of the PCC Worship and prayer Worship is central to the lrfe of St Margaret's. The pattem of worship both within the church at home and across our schools has largely reverted to pre-pandemic times although the chUh layout has been kept in a more spacious layout. The pattem of daily worship prayer and regular celebration of the Eucharist has continued, maintaining the aesthetic importance of our lilurgy, including music and seNing. The church was used for baptisms, weddings and funerals during the year. As at 31 December 2024 there were 93 persons on the church electoral roll, 43 of whom were resident outside of the parish, 45 live in the parish and there are 5 of Good Standing. Deanery Synod St Margarefs has two lay representatives on the Hadleigh Deanery Synod. By reason of holding these positions, they are ex-officio members of the PCC. They provide an important link between the parish and other parishes in the deanery. The Church Hall The church hall seNes a dual purpose. Firstly, it is used for church 8Ctivities and by groups associated with the church and generates income from lettings. The church hall is part of our outreach to the wider community. Pastoral car8 Some of our people are unable to attend church due to sickness or age. We established a buddy system to ensure all members of the church community were contacted regularly. We try to ensure that all members of the church who are housebound are visrted on a regular basis. When members of the congregation are hospitalised, we arrange for them to be visited by the Hospital Chaplain. Misslon and Evangelism Helping those in need is a demonstration of faith. As a church we regularly support the Ukraine Appeal, Christian Aid. The Children's Society, The Royal British Legion. Water Aid, HARP and Serving the Homeless. We also support the Additional Curates Society Some of the services held during the year are normally structured to attract those members of the community who were not regular members of our congregation" for example, Mothering Sunday, Harvest Festival, Remembrance Sunday, the Carol Service and Crib Service. We publish a quarterly bulletin for our congregation and the wider community We see this as being part of the outreach of St Margaret's. Page 3
THE PAROCHIALCHURCH COUNCIL OF ST MARGARET'S LEIGH4)N4EA PCC MEMBERS. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance (continued) b. Safeguardlng The PCC has 8 legal requirement to report on Safeguarding progress and include a statement as to whether or not they have complied with their duty and have 'due regard. to the 'House of Bishops, Safeguarding Policy and Practice Guidelines. Our Parish is committed to the 5 st8ndards of Culture, Leadership & Capacity, Prevention, Recognising, Assessing & Managing Risk, Victims & Survivors and Leaming, finalty Supervision and Support. In 2023 The Church of England approved these Standards stating its intention to achieve them in its Safeguarding work. PCC members have been DBS checked in accordance with guidelines which state that these are now undertaken every 3 years. In May 2024 there was a Safeguarding training session at st .Margaret's for members of our PCC. and members of our congregation. The expectstion by the Diocese that all such training is undertaken 'online' has been recognised as being unrealistic. There have been no Safeguarding concerns recorded during the past year. We have adopted and implemented the House of Bishops 'Promoting a Safer Church., Page 4
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH4)N-SEA PCC MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnancial review a. Going concern After making appropriate enquiries, the PCC members have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable fLrture. For this reason, they continue to adopt the going conrn basis in preparing the tinancial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy It is our policy to invest short term investment fund balances with the CCLA Church of England Deposit Fund. 20% of our property income is transferred to a'Property Mission Fund.. . Summary Total receipts of unrestricted funds were up by around 5Q/o of 2023. Collections increased by around 50 /0, whilst income from the envelope scheme decreased to 31 % of the 2023 figure. Income from hall lettings increased by 3 /0 and Propety Income incieased. Interest received remained significant due to higher interest rates. Due mainly to the dedicated efforts of Julia Fenton, we were again able to run a Summer and Christmas Fair. As always, the outreach to the local community was at the heart of the ventures. A further £12K needed to be spent on Eaton Road. The net result for the year was a small surplus after £8K was transferred to our'Property Mission Fund.. £138K was spent from unrestricted funds to provide the Christian ministry from St Margaret's church. This includes a contribution of £60,557 to the Diocesan Parish Share which was 620/0 of the requested amount of £98K. We matched our Share to the Share requested to our 'equivalent' parish of St James the Great, Leigh- onea. The Diocesan Parish Share largely provides the stipends, pensions and housing for the clergy as well as general running costs of the Diocese. The total Diocesan Parish Share requirement is shared out between the churches according to a fomiula that is based mainly on the congregation headcount and perceived ability to pay (a.k.a. "Deprivation factorf) Page 5
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGHQN*EA PCC MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management . Constltution The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the 1958 Parochial Church Council Measure. The PCC is a RegisteredlExcepted Charity (Charity No. 1130679> b. Methods of appointment or election of PCC members The PCC Consists of our parish priest (Father David), the churchwardens. our Deanery Synod representatives and a number of representatives of the laity. All suitably qualified members of the congregation are encouraged to apply for inclusion on the electoral roll and to stand for election to the PCC. Churchwardens are elected in accordance with the provisions of the Churchwardens Measure 2001. Deanery Synod representatives and representatives of the laity are elected in accordance with the Church Representstion Rules 2006 as subsequently amended PCC members who have served at any time from 1 January 2024 until the date this report was approved are.. Ex officio members: Incumbent." Fr. David Wylie - Chainnan Church Wardens.. Mr Michael Bridge ( to June 2024) Mr John Lamb { from June 2024) Mr Peter Maddox Elected representatives that have served during the year. Mrs Kate Baynes - Deanery Synod representstive Mr Michael Bridge- (from June 2024) Mrs Carol Dowsett- Secretary (resigned 26 May 2024) Mr Peter Fisher - Deanery Synod representative Mr Donald Fraser - Treasurer Mr John Lamb (appointed 26 May 2024, resigned June 2024 once Church Warden) Mr John May Mrs Tracey Miller - {previousEy Searle) Mr David Stowe Mrs Lorna Green Mr8 Lucia Curthoys Mr James St John Marfell Smith Secretary Mr Robert Southward c. Organlsational structure and declsion-making policies The PCC is responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the church are to be spent. The full PCC met 5 times during the year with an average level of attendance of approximately 69 %. Business which is of an urgent nature was dealt with by the Standing Committee. Page 8
THE PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs LEIGH-ON4EA PCC MEMBERS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management (continued) d. Financial risk management The PCC members have assessed the major risks to which the PCC is exposed, in particular thoso related to the operations and finances of the PCC, and are satisfied that systems and procedures are in pla to mitigate exposure to the major risks. Members, liability The Members of the PCC guarantee to contribute an amount not exceeding £1 to the assets of the PCC in the event of winding up. Statement of PCC members. responsibilities The PCC members are responsible for preparing the PCC members, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). The law applicable to charities in England & Wales requires the PCC members to prepare financial ststements for each financial which give a true and fair view of the state of affairs of the PCC and of its incoming resources and application of resources. including its income and expenditure, for that period. In preparing these financial statements, the PCC members are required to.. select suitable accounting policies and then apply them consistently- obsetve th8 methods and principles of the Charities SORP (FRS 102)- make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the PCC will continue in business. The PCC members are responsible for keeping adequate accounting records that are sufficient to show and explain the PCC'S transactions and disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the The Church of England. They are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other Iegular1tie$. Approved by order of the me ers e board of PCC members and signed on their behalf by.. avld ivylie haimian Date: 2gLC Page 7
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARETS LEIGH-ON-SEA INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examiner's report to the PCC m8mb8rs of The Parochial Church Councll of St Margarevs LeIghn-sea {'the PCC,) I report to the members on my examination of the accounts of the PCC for the year ended 31 December 2024. Responsibllltles and basls of report As the members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Acr). I report in respect of my examination of the PCC'S accounts carried out under section 145 of the 2011 Acl and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examin8rf3 statement Your attention is drawn to the fad that the PCC has prepared the accounts in accordance with Accounting and Reporting by Charities.. Ststement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have compl&ted my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the PCC as required by section 130 of the 2011 Act., or the accounts do not accord wÈth those records" or the accounts do not comply with the applicable requirements Conrning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a malter 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 be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertsken so that I might state to the PCC members those matters l am required to state to them in an independent examine¢s report and for no other purpose. To the fullest extent pemitted by law, I do not accept or assume responsibilty to anyone other than the PCC members as a body, for my work or for this report. Signed: stuart Rowson Dated.. FCA Venthams Chartered AcLountants, Millhouse, 32- 38 East street, Rochford, Essex SS4 1 DB Page 8
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGHQN4EA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted funds 2024 Restricted funds 2024 Totsl funds 2024 Total fvnds 2023 Note Income from: Voluntary income Church activities Activities for generating funds Investments 54,711 47,330 3,248 46,423 15,743 qo 70,454 47,340 3,248 46,423 59,011 45, 169 3,209 34,009 Total Income 151,712 15,753 167,465 141,398 Expendlture on: Raising funds Church activiiies 160 140,037 549 128,839 138,053 1.984 Total expenditure 138,213 1,984 140,197 129,388 Net Income Transfers between funds 13.499 (633> 13.769 633 27,268 12,010 18 Net movement in funds 12.866 14,402 27,268 12,010 Reconclllatlon of funds: Total funds brought forward Net movement in funds 533,755 12,866 13,203 14,402 546,958 27.268 534, 948 12,010 Total funds carried foNard 546,621 27,605 574,226 546, 958 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 11 to 24 fom part of these financial statements. Page 9
THE PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs LEIGHiIN4EA BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note Ftxed assets Tangible assets 13 269,837 269,837 269,837 269,837 Current assets stocks Debtors Cash at bank and in hand 14 15 400 9,867 306,474 400 3, 163 277,831 316,741 281,394 Creditors: amounts falling due within one year 16 (12,352) (4,273) Net current assets 304,389 277, 121 Totsl assets less current liabilities 574,226 546, 958 Net assets excludlng pensSon asset 574.226 546, 958 Totsl n8t assets 574,226 546,958 Funds Restricted funds Unrestricted funds 18 18 27.605 546,621 13,203 533, 755 Total funds 574.226 546,958 The financial statements were approved and authorised for issue by the PCC members and signed on their behalF by: David Wylie Date.. The notes on pages 11 to 24 form part of these financial statements. Page 10
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LElGH-oNEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Information St Margaret's Church is situated in Leigh-on-sea Essex, in the Deanery of Hadleigh in the Episcopal Area of Bradwell in the Diocese of Chelmsford. The correspondence address is St Margaret's Vicarage, 1465 London Road, Leigh-on-sea, Essex SS9 2SB. The parish website is at www.saintmargaretsleigh.org. Accountlng pollcles 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102> - Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practi effective from 1 April 2005 which has since been withdrawn. The Parochial Church Council of St Margaret's Leigh-on-sea meets the definttion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the PCC has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the PCC h8s sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the propety in question will not be required to satisfy daims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the PCC, can be reliably measured. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the PCC which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page11
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGHN-sEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.3 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the PCC to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the PCC'S objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, SUGh grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.4 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the PCC., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Tangible flxed assets and depreciatlon Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economi benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, langible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Freehold property Equipment and Stairlift 200/0 Straight line basis 2.6 Consecrated and benefice property In so far as consecrated and benefice propety of any kind is excluded from the statutory definition of "charity, by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements. Page 12
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARETS LEIGHNEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {continu8d) 2.7 Moveable church furnishings These are capitalised at cost and depreciated over their useful economic life other than where insufficient infomiation is available. In this case the items are not capitalised, but all items are included in the Church's inventory in any case. 2.8 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.10 Cash at bank and In hand Cash at bank and in hand includes cash and short-tenn highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.11 Liabilities and provlslons Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the PCC anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or Sel¢eS it must provide. 2.12 Financlal instruments The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.13 Operating leases Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease tenn. Page 13
THE PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs LEIGHffjNEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2024 Accounting policies (continued) 2.14 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the PCC members in furtherance of the general objectives of the PCC and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the PCC members for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specrfic restrictions imposed by donors or which have been raised by the PCC for particular purposes. The costs of raising and administering such funds are charged against the specrfic fund. The aim and use of each restricted nd is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted Restrlcted funds funds 2024 2024 Total funds 2024 Donations Legacies 54,711 14,743 1,000 69,454 1,000 54,711 15,743 70,454 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Donations Legacies 49,483 4,528 54,011 49,483 9, 528 59,011 Page 14
THE PAROCHIAL CHURCH COUNCILOF ST MARGAREfs LEIGHQN*EA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable activities Unrestricted Restrlcted funds funds 2024 2024 Total funds 2024 Income from charitable activities - Church activities 47,330 10 47,340 UnStricted funds 2023 Total funds 2023 Income from charitsble activities- Church activities 45, 169 45, 169 Income from other tradlng actlvities Income from fundraising events Unrestricted funds 2024 Totsl funds 2024 Other Fundraising activities 3.248 3,248 Unrestricted fvnds 2023 Total ftinds 2023 Other Fundraising Activities 3, 209 3,209 Page 15
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGHN-sEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investment income UnrestrScted funds 2024 Totsl funds 2024 Rent received Bank Interest receivable 33,860 12,583 33,860 12,663 46,423 46,423 UnTrstricted funds 2023 Total funds 2023 Rent reiVed Bank interest receivable 23,495 10,514 23, 495 10,514 34, 009 34, 009 Expenditure on ralslng funds Costs of ralslng voluntary income Unrestricted funds 2024 Total funds 2024 Other Fundraising activities 160 160 Page 16
THE PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs LEIGH-ON-SEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2024 Expenditure on raising funds (contlnued) Costs of ralsing voluntary income (¢ontlnued) Unrestricted funds 2023 Total funds 2023 Other fundraising activities 549 Analysis of grants Grants to Instltutions 2024 Total funds 2024 Grants, Church activities 1,884 1.884 Grants to Institutions 2023 Tot81 funds 2023 Grants. Church activities 4,425 4,425 Analysls of expendlture on charitable actlvltles Summary by fund type Unrestrlcted Restrlcted funds funds 2024 2024 Total 2024 Church activities 138,053 1,984 140,037 Page 17
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH4)N4EA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expenditure on charitable activities (continued) Summary by fund type (continued) Unrestricted funds 2023 Restncted funds 2023 Total 2023 Church activities 124,037 128,839 10. Analysis of expenditure by activities Activities undertaken dlrectly 2024 Grant funding of activities 2024 Total funds 2024 Church activities 138,153 1,884 140.037 Activities undertaken directly 2023 Grant fvnding of activitl8S 2023 Total fvnds 2023 Church actNities 124,414 4,425 128, 839 Page 18
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2024 10. Analysis of exp8nditure by actlvltles (continued) Analysis of direct costs Church actlvltles 2024 Total funds 2024 Ministry costs.. Diocesan Parish Share Minstry costs.. Other ministry costs Church running and maintenan Church exterior and yard costs Church Hall running and maintenance Sanctuary expenses Music and organ running costs Printer and stationery Photocopier rental Other expenses Independent examiner's remuneration Rental property costs 60,031 3,291 32,734 668 26,976 772 {3,325) 193 972 658 800 14,383 60.031 3,291 32,734 668 26,976 772 (3.325) 193 972 800 14.383 138,153 138,153 ChurGh activities 2023 Total funds 2023 Ministry costs: Diocesan Parish Share Minstry costs: Other ministry costs Church running and maintenance Church exterior & yard costs Church Hall running and maintenance Sanctuary expenses Music and organ running costs Printer and stationery Photocopier rental other expenses Independent examinerfs remuneration Rental property costs 60,354 3, 122 23,741 631 13,278 1,613 1,374 1,614 4, 738 705 60,354 3, 122 23, 741 631 13,278 1,613 1,374 1,614 4, 738 705 800 12,444 12,444 124,414 124,414 Page 19
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Indendent examiner's remuneration 2024 2023 Fees payable to the PCC'S independent examiner for the independent examination of the PCC'S annual accounts 800 800 12. PCC members. remuneration and expenses During the year, no PCC members received any remuneration or other beneffts (2023 - £NIL). During the year ended 31 December 2024, expenses totalling £3,561 were reimbursed or paid directly to 3 PCC members {2023- £3, 453 to 5 PCC members). 13. Tangible fixed assets Freehold property Plant and machinery Total Cost or valuation At 1 January 2024 311.926 28,607 340,533 At 31 December 2024 311,926 28,607 340,533 Depreciation At 1 January 2024 42,089 28,607 70.696 At 31 December 2024 42,089 28,607 70,696 Net book value At 31 December 2024 269,837 269,837 At 31 December 2023 269,837 269,837 14. Stocks 2024 2023 Consumables 400 400 Page 20
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Debtors 2024 2023 Due wlthln one year Prepayments and accrued income 9,867 3,163 9.867 3,163 16. Creditors: Amounts falllng due within one year 2024 2023 Trade creditors other creditors Accruals and deferred income 887 11,456 337 3,927 12,352 4,273 17. Flnancial instruments 2024 2023 Flnancial assets Financial assets measured at fair value through income and expenditure 306,474 277,831 Page 21
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARETS LEIGHQN4EA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Statement of funds statsment of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Unrestricted funds Designated funds Maintenance Fund Legacy Fund Vestments Youth Work Property Mission Fund 11,229 257.636 401 500 21.469 11,229 2S7,636 401 780 29,309 280 7,840 291,235 8.120 299,355 General funds General Fund 242,520 151,712 (138.213) 18.753) 247.266 Total Unrestrlcted funds 533,765 151,712 1138,213) (633) 546,621 Restricted funds Restricted Fund - Lift Restricted Fund- Church Exterior Restricted Fund- Charitable Gtving Overseas Restricted Fund- Flowers and Fauna Restricted Fund- Legacy Restricted Fund- Charitable Giving- Home Restrited Fund- Stained Glass Window 4,086 4,086 2,387 363 2,750 (22 (22) 1,588 5.000 120 1,000 {100) 1.608 6,000 2,003 (1,884) 283 12,630 270 12,900 13,203 15,753 (1,984) 633 27,605 Total of funds 546,958 167,465 (140,197) 574,226 Page 22
THE PAROCHIALCHURCH COUNCIL OF ST MARGARETS LEIGH4)N4EA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Ststement of funds (continued) ststement of funds - prior year Balance al 31 December 2023 Balance at l January 2023 TTrnsfers in/out Income Expenditure Unrestricted funds Designat8d funds Maintenance Fund Legacy Fund Vestments Youth Work Property Mission Fund 11,229 257, 636 401 500 13,369 11,229 257, 636 401 500 21,469 8, 100 283, 135 8, 100 291,235 General funds General Fund 243, 336 131,870 (124,586) (8, 100) 242,520 Totsl Unrestr5cted funds 526,471 131,870 (124, 586) 533, 755 Restricted funds Restricted Fund - Lift Restricted Fund- Church Exterior Restricted Fund- Charitable Gtving Overseas Restricted Fund- Flowers and Fauna Restricted Fund- Legacy Restricted Fund- CharFtable Giving- Home 4,086 4,086 2, 688 (301) 2,387 (22) 834 (834) (22) 1.665 (77) 1,588 5,000 5,000 60 3, 694 {3.590) 164 8,477 9,528 (4, 802) 13,203 Total of funds 534,948 141,398 (129,388) 546, 958 Page 23
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGHN-sEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Summary of funds Summary of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 291,235 242,520 13.203 8,120 (8,753) 633 299,355 247.266 27,605 151,712 15,753 (138,213} (1,984) 646,958 167,465 (140,197 574,226 Summary of funds- prior year Balance at 31 December 2023 Balance at l January 2023 Transfers in/out Income Expenditure Designated funds General funds Restricted funds 283, 135 243,336 8,477 8, 100 (8, 100) 291,235 242,520 13,203 131,870 9,528 (124,586) {4, 802) 534,948 141,398 (129,388) 546,958 20. Operatlng lease commitments At 31 December 2024 the PCC had commitments to make future minimum lease payments under non- cancellable operating leases as follows: 2024 2023 Later than 1 year and not later than 5 years 2.635 5,021 Page 24