CHRIST CHURCH 'Ir PENNINGTON ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH PENNINGTON (MANCHESTER DIOCESE) FOR THE YEAR ENDED 31 DECEMBER 2024 Registered Charity No. 1130715
Page | 1 CONTENTS Page 2 Administrative details Page 3 Report of the Trustees Page 8 Independent Examiner's report Page 9 Statement of Financial Activities (SOFA) Page 10 Balance Sheet Page 11 Notes to the Financial Statements
Page | 2 ADMINISTRATIVE DETAILS PCC members Members who have Served during the year and until the date of approval of thi5 reFX)rt are". Incumbent (Ex-officio)." A550CiOte Minister (Ex-officio).. The Revd Jack Shepherd (Chair) The Revd Eric White SVC Senior Pastor (Ex-officio): Mr John Bennett Assistant Ministers (Reader) (Ex-officio)." Miss Alison Davies Wordens.. (ex- officio, elected annually) Mr Steven Hall Mr Jarnes Cowley (from APCM 2024) Representatives on the Deanery Synod.. {ex- officio to APCM 20251 Mr James Cowley Mrs Judith Pitt Other elected members.. To APCM 2025 Mr C Roberts Mr J R Roberts Mr P Urquhart Mrs E Nicholson To APCM 2026 Mr D Clough Mrs J Piotrowski Mrs V Doran-Johnson Mrs M McLean Mrs H Owen Mr M Brown Mr S Bennett Mrs A Robert5 Mrs J Longworth To APCM 2027 Mr J John50n Mrs A Moore Total 15 elected members as at 315t December 2024) Treasurer Mr Cyril Roberts Location and correspondence address Christ Church Pennington is situated about 250 yards south of the centre of Leigh in Lancashire, off St. Helen's Road. The correspondence address is Church House, Schofield Street, Pennington, Leigh, WN7 4HT. Bankers Co-operative Bank PLC, Balloon Street, Manchester, M60 4EP CCLA Investment Management Limited, 80 Cheapside, London, EC2V 6DZ Independent Examiner Mr Edward T Moss
Page | 3 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Members of the Parochial Church Council (PCC), v4ho are the trustees of the charity, present their annual report and financial statements for the year ended 31 December 2024. Structure, governance and management The PCC of Christ Church Pennington is an independent charity within the Diocese of Manchester in the Church of England. It is registered with the Charity Commission, number 1130715, with the formal title of the Parochial Church Council of the Ecclesiastical Parish of Christ Church Pennington IManche5ter Diocese). PCCS are govemed by two pieces of Church of England legislation, called Measures. These are: the Parochial Church Councils (Powers) Measure 1956 as amended, which defines the principal function, or purpose, of the PCC as "promoting in the parish the whole mi55ion of the Church. the Church Representation Rule5 {contained in Schedule 3 to the Synodical Government Measure 1969 as amended) The method of appointment of PCC members (trustees) is set out in the Church Representation Rules, each tnember being elected for a three-year period. All Church attendee5 are encouraged to register on the Electoral Roll and consider standing for election to the PCC. Charitable Objectives and Principal Activities The trustees have the responsibility of co-operating with the incumbent to benefit the public by promoting, in the ecclesiastical parish, the whole mission of the Church - pastoral, evangelical, social and ecumenical. The PCC seeks to achieve its objectives by prowding opportunities for worship and fellowship as well as providing services and support for the wider community of Pennington, Leigh and beyond. The trustees have placed special emphasis on support for local young people and their families, debt and poverty issues and on the long-term sustainability of the Sports Village Church (SVC)- The PCC has maintenance responsibilities for 2 buildings, namely the Church itself and Church House (the former vicarage now used as a Church Hall) on khofield Street, Pennington, Leigh. SVC operates out of a room at Leigh Harriers which is the subject of an informal hire agreement. The trustees have referred to the information contained in the Charity Commission's general guidance on public benefit when rewewng the aims and objectives and in planning future activities. The trustees believe that the activities carried out benefit the public by providing opportunities to meet as a community, to serve one another and to prowde seryice and otherwise assist those individuals in need because of social exclusion, poverty, disability or lack of opportunity. Church Vislon On Tuesday 28th January 2025, the PCC approved the adoption of a new vision statement: Knowing Jesus -> hlaking Jesus Known and its implementation through a discipleship pathway with four steps- Contact, Connect. Commit, Commission Core Value5 Love - We care for and accept others unconditionally and sacrificially, in word and action, because God first loved us by sending Jesus to die for us. Grace - We share and befriend people from all backgrounds, being quick to forgive, because we have been empowered by the Holy Spirit through knowing Jesus Christ Welcome - We strive to make everyone feel at home with us by offering hospitality and genuine interest in people's lives, like Jesus did with open arms.
Page | 4 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) Achievements and Performance Church attendance There were 109 adults lover 16 years) attending Church when the annual count took place each week in October (81 at Christ Church and 28 at Sports Village Church) (2023- 95 total). On 315t December there were 150 persons12023: 148) on the Church Electoral Rol Rewew of the year The PCC met 7 times during the year. The Standing Committee met 7 times, 9 persons having 100% attendance and an average 75% attendance. At the annual meeting in May 2024, Steven Hall was re-elected and James Cowley was elected as Churchwardens. In September, Rob Ferguson started as Operations Manager, as Emma Nicholson transitioned into a new role as Chaplain at Lowton High School. Ally Murden completed her role as CAP Life Skills Manager in December, yth Laura Cochrane continulng her role as CAP Debt Centre Manager. At the end of June, Veronika Fialova and Shekinah Reeta Andrews completed their voluntary roles with the PAIS programme, which included running weekly group5 at local schools and supporting church-based activities for children and young people. We are grateful for every person who has contributed to the mission and ministry of Christ Church Pennington during the year. Between April and May 2024, The Me55age Academy visited for outreach weeks at Christ Church Pennington Primary School, Lowton CE High School, Bedford High School and The Westleigh School. These visits included running the Respect ME PSHE project and hosting Friday evening concerts at local churches in the Mission Community. During the year. the Mission Community has held termly 'Greenhouse' gatherings, exploring the journey of initiating Fresh Expressions and refreshing existing expre55ions of church, as well as a thankyou celebration at the end of March. Christ Church Pennington Primary School celebrated their Harvest Service on 20th September and held their Nativity and Carol Service on Wednesday 18lh and Thursday 195t December. Since September, Revd Jack Shepherd ha5 been regularly involved in supporting the Exploring Christianity group at Lowton CE High School on Monday lunchtimes and the Ethos group at Christ Church Pennington Primary School on Wednesday lunchtimes. Between September and December. an Alpha Course provided an opportunity for people to explore the Christian faith, with around ten attendees each week. On 21st September, the new Strategic Leadership Team met for the first time, with further groups subsequently being started to develop evangelistic, prophetic, and pastoral areas of ministry. On 8th October, 'Biscuit Base, was introduced as a new weekly drop-in session, running from 10:(K) to 11:30am. During December, a variety of services and activities were held, including The Big Christmas Quiz on 8th December, the Nativity Service and Sensory Semce on 15th December, Community Carols in the Park on 21st December, the Nine Lessons and Carols service on 22nd December, Midnight Communion on Christmas Eve, and a Celebration Service on Christmas Day. A Christingle service took place on 5th January to celebrate Epiphany. 2025 began with a Week of Prayer and Fasting and a Vision Day on Saturday 18th January. At the Vision Morning, we discussed a new vision statement, 'Knowing Jesus -> Making Jesus Known, and its implementation through a discipleship pathway with four steps: 'Contact, Connect, Commit, Commission,. Our church weekend away to Cloverley Hall on 15th 1W November, which was attended by around fifty people including children and young people, provided a significant opportunity to focus together on our core values of love, grace, and welcome. DynamTC Prayer has continued each Monday evening at 7.30pm. This year, the church has also said farewell to beloved members of our congregation through funerals. Our annual Service of Hope and
Page | 5 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) Remembrance was held on Sunday 10 November. Baptisms have been celebrated, a5 well as a service of confirmation, which was led by Bishop Matthew Porter at Christ Church Pennington with nine candidates th on 1 St October. Bishop Matthew also visited to preach and preside at Holy Communion on Sunday 14 July. A Valedictory Evensong Service. with hymns chosen and played by Mark Brown and a sermon by James nd Cowley, was held at 6.30pm for the celebration of Candlemas on Sunday 2 February. During the year, sennon series have taken place to explore the beginning of the Ix)ok of Acts, the apocalypse, Prayer in the Psalms, and the journey through the desert in Numbers 10-21. Financial Review During the year the PCC continued to take a prudent approach to its financial management, regularly receiving financial updates from the finance sub-group, which meets before every PCC meeting to carry out detailed financial monitoring against budgets. Total unrestricted income Ilncluding designated funds) was £125,335 {2023: £109,549). Restricted fund income was £27,073 12023: £32,453). This included grants received, detailed in note 3 of the financial statements. The parish share TS an amount payable to the dTocese to support ministry costs and the work of churches in other areas of Manchester. The PCC paid £50,0 {2023: £45,000} parish share for the year. Mi55ion giving from unrestricted funds 15 calculated as 10% of prior year unrestricted incoming resources. The total amount given from unrestricted fund5 in 2024 was E9,81)J. For 2025 it will be £10,700. Other unrestricted operating costs {Including designated funds) amounted to £85,373 {2023: £50,376), an analysis of which can be found in note 6 of the financial statements. Expenditure from restricted funds was £61,03612023: £66,902). an analysis of which can be found in note 6 of the financial statements. All these factors combined to result in a net income from unrestricted funds of £12,745 12023: £16,980). Of this, £23,42012023: £22,223) was transferred to other funds for purposes agreed by the PCC. This left a decrease in general funds of £10,675 (2023: £5,243 decrease) and an decrease in designated funds of £21,33212023: £45,331 increasel. The net position from restricted funds was a net decrease of £7,983 (2023: £29,539 decrease). Movement in the various funds is set out in note 14. Planned and Lix-efficient giving. The number of people who gave regularly to General Church Funds through the Bank or the envelope scheme during 2024 was 9312023.87) and of these 75 (2023". 741 donated through the Gift Aid Scheme. Future developments We intend to hold a Weekend At Home in autumn 2025, with a Weekend Away in 2026. We are prioritising the development of our new Social Transformation Hub, communication5 Strategy, and patterns of worship and prayer that are welcoming for all.
Page | 6 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) Risk review, funds and reserves policy The trustees have considered the key risks affecting the charity and have taken steps to mitigate them. They have identified the key risks as being: failure to maintain a listed church building and other old buildings in a good state of repair. o balancing the needs of members of the Church, with its two congregations, and the wider community. o financial risks associated with balancing the requirement for longer term investment in the buildings and projects in the parish and the shorter term demands on limited re50urce5' and financial risks associated with declining levels of unrestricted giving. The trustees believe that these risks are minimised by regular meetings concentrating on building issues, development of policies and regular consideration of financial information and balancing ongoing aintenance expenditure with retention of funds for longer-term projects. The trustees recognise the need for the charity to establish and maintain reserves to enable it to continue to carry out its charitable objectives in the event of unforeseeable matters arising. In particular. given the nature of the buildings, reserves need to be maintained to ensure any major repairs can be carried out when necessary. Details of reserves held by the charity are given in note 14 to the financial statements. With the exception of fund5 held in trust for the Parish School, most restricted funds relate to ongoing activitie5. Any major investment in buildings would have to be funded either by appeals and grants or by making provisions thin designated funds established for the purpose of longer-terni building maintenance. In addition to restricted and designated funds. the trustee5 have resolved to maintain a minimum of 2-3 months, average running costs in free reserves. At £19,330 free reserves meet this requirement. Statement of Trustees responsibilities The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance 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 trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. o observe the methods and principles in the Charities SORP. make judgments and estimates that are reasonable and pmdent. state whether applicable accounting standard5 have been followed, subject to any material departures disclosed and explained in the financial statements. o prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in busine55. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities.
Page | 7 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) The Trustees appointed Mr Edward T hloss as Independent Examiner for the year and a resolution to reappoint him for next year wll be proposed at the Annual Parochial Church Meeting. Approved by the member5 of the PCC on 25 March 2025 and signed on their behalf by Reverend Jack Shepherd Chair Cyril Roberts Treasurer
INDEPENDENT EXAMINER'S REPORT TO THE PCC OF CHRIST CHURCH PENNINGTON FOR THE YEAR ENDED 31 DECEMBER 2024 This report on the financial statements of the PCC for the year ended 31 St December 2024, which are set out on pages 9 to 18, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 {"the Regulations") and s.145 of the Charities Act 2011 ("The Act") Respective responsibilities of trustees and examiner The charitys trustees are responsible for the preparation of the financial statements. The charitys trustees consider that an audit is not required for this year (under section 144121 of the Charities Act 2011, and that an independent examination is needed. It is my responsibility to: examine the accounts (under section 145 of the Act); to follow the procedures laid down in the General Directions given by the Charity Commissioners lunder section 14515)Ibl of the Act); and to state whether particular matters have come to my attention. Basis of this report My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the account5 presented with those records. It al50 includes consideration of any unusual items or disc105ures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. Independent exarniner's statement In the course of my examination, no matter has come to my attention: which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: proper accounting records are kept (in accordance wth section 130 of the Act) accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed.. Edward T Alo55. FCA Chartered Accountant 29 Mauldeth Road Stockport SK4 3ND Date." 25 March 2025
Page | 9 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Note5 -___ Unrestricted Funds-_ General Designated Restricted Funds Totsl 2024 Total 2023 INCOME Donations & legacies 102.603 24.410 127,167 113,397 Investment income 4.754 3,469 Income from charitable actiTrrities Grants reiVed 1.975 1.538 4,513 10.380 Fee5 & Similar income 3,542 11,307 1,125 15,974 14,756 TOTAL INCOME 107.145 18.190 27,073 152,408 142,002 EXPENDITURE C05t5 of charitable activitie5 Parish share paid to Manchester Diocese Mission giving & tharitabie donations Other 0rating costs TOTAL EXPENDITURE 50,000 45,0) 9.8(K) 4.51x1 14.300 15,350 34.6(M) 50.773 61,036 146,409 117.278 94,400 50,773 65,536 210,709 177,628 Net Incc*ne and expendlture befcfe galn5 arbd 105ses on fnve5tsnents 12.745 132.5831 {38.4631 {58,3011 (35,626) Unrealised gain / 1105s1 on of investments 10 2,551 15,760 18,311 40,926 INCOME / EXPENtMTURE BEFORE TRANSFERS 12.745 130.0321 (22,7031 {39,9901 5,300 TRANSFERS BEfwEEN FUNDS 14 123.4201 8,7CMJ 14.720 MOVEMENT IN FUNDS {10.675} 121.3321 17.9831 {39.9901 5,300 FUND BALANCES BIF 14 30.005 162,142 291,593 483,740 478,440 FUND BALANCES CIF 14 19.330 140.810 283,610 443,750 483, 740 TOTAL RECOGNISED GNs AND LOSSES There ere no other gain5 or 1055e5 in the tv ar5 other than those stated atM)ve. CONTINUING OPERATIONS All results derive from continuing otEration5 The te5 on pages 11 to 18 form part of these finanaal statements.
Page 110 BALANCE SHEEf AT 31 DECEMBER 2024 2024 2024 2023 2023 FIXED ASS5 Tangible assets Investments 10 313,811 313.812 364.450 364,451 CURRENT ASSErs Debtors falling due wlhin one year Cash at bank and in hand 1.767 3, 150 129.436 117, 104 131.203 120,254 CRELNTORS Amounts due in less than one yEar 11.2651 (965) CURRENT ASSErs 129.938 119,289 ASSErs 443.750 483,740 FUNDS Restricted 14 283.610 291,593 Unrestricted Ilnciuding Designated) TOTAL FUNDS 14 160,140 443,750 192. 147 14 483.740 The te5 on pages 11 to 18 form part of these finanoal statements. Approved by the Trustees on 25 March 2025 And signed on their behalf by'.- Reverend Jad( Shepherd Chair Registered Charity No. 1130715
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1 ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied throughout the year. Basis of preparation The financial statements have been prepared on a going concem basis, in accordance with the Statement of Recommended Practice "Accounting and reporting by Charities 2015 IFRS1021" the Church Accounting Regulations 2006, the Charities Act 2011 and applicable accounting standards in the UK. The charity presents its results under FRS 102. The last financial statements under previous UK GAAP were for the year ended 31 December 2014. The date of transition to FRS 102 was 1 January 2014. There have been no change5 in accounting policies as a result of this transltion. and the only significant change to the financial statements is the introduction of a Statement of Cash Flows. The flnancial statements have been prepared under the historical cost convention except for the valuation of investment asset5. which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accaunts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. Fund accounting General funds are available at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted fund5 are funds subject to specific restrictive conditions imposed by donors, funders or by the purpose of grants. The purpose and use of the restricted fund5 is set out in note 14 to the account5. Donations and grants and similar incoming resources Income from donations and grants, including capital grants and donations. is included in incoming resources when these are receivable, except when they relate to future accounting periods or when the donors or grantors impose pre-conditions that have not been met. In these cases the income is deferred until the future period andlor the conditions have been met. Tax refunds are recognised at the same time as the incoming resources to which they relate. Legacies are accounted for when the PCC is legally entitled to the amounts due. Where conditions are imposed which restrict the use of the income to specific purpose then it is included in incoming resources under restricted funds when it is due. Grants received in respect of capital expenditure, which may be repayable in certain circumstances, are treated as restricted funds and included in incoming resources in the year of receipt. They are released to unrestricted funds, in so far as any restrictions have been met, by means of a transfer each year to rnatch the depreciation charged. Rental income Income from tenants in respect of rented property is recogni5ed in the period to which it relates. Rent paid in advance is deferred and carried forwarded as income in advance in creditors. Fundraising income Income from fundraising events is recognised in the period in which the event takes place. Income for specific purposes is included in restricted funds.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) 1 ACCOUNTING POLICIES Icontinued) Resources expended Expenditure is classified under the principal categories of charitable and other expenditure rather than the type of expense. The cost headings comprise expenditure, including staff costs, directly attributable to each activity. Where costs cannot be directly attributed they are allocated to activities on a basis consistent with the use of resources. Fixed assets and Depreciation Consecrated and benefice property such as the Church and Vicarage are not included in the accounts in accordance with 5.10 of the Charities Act 2011. Church House is considered a functlonal asset and is included in the balance sheet at either cost less depreciation or Trustees valuation. The Trustees are aware that the property has a market value in exce55 of net book value. No cost information is available for Church House, a building which was the vicarage prior to a replacement being built in the 1960's, and has been subsequently used as a Church Hall. This property is included in the balance sheet at a notional value of £1, on the basis of its dilapidated state when it was transferred to the PCC. The open market value of the property is likely to be significantly in excess of this recorded net brK)k value. Valuations are not carried out in respect of buildings on the basis that there is no intention to dispose of them. Moveable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property and listed in the church'5 inventory, which can be inspected at any reasonable time. For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Subsequently no individual item has cost more than £1.000 so all sh expenditure has been written off when incurred. Other assets whTch are used on a contTnuing basis for the work of the PCC, such as office equipment and vehicles are considered Functional assets, and these are included in the balance sheet at cost less accumulated depreciation. Items costing less than C1,1M) are not capitalised but written off as revenue expenditure in the year of acquisition. Depreciation is provided on the cost of tangible fixed assets in order to write off the cost after taking account of scrap values over the expected useful lives as follows: Electronic equipment Buildings 20% and 33% 2% Impairment reviews are carried out when there is any indication that the carrying amount of a functional fixed asset is below its net book value. Investments These are valued at market value at 31 December.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) - Unrestricted Fund5----. Restricted Total Total Genwal t*5i8nated Funds 2024 2023 2 tKINATIONS & LEGACIES Tax efficient planned giving Tax recovered through gift-aid & GASDS Other planned giving Other recurring ¢th)nalions Lega 69.093 18.835 11,051 3,624 11.921 3.910 6,347 2,232 81.014 22.752 17,398 6,003 78,294 20,760 10,213 4, 130 147 102.603 154 24.410 127.167 113,397 3 GRANTS RECvED SSE Business Energy 2,000 Old Leigh Deanery 1,688 1,688 Listed PLHces of Worship 975 975 Brighter &)rough 500 500 Warrn & Wekorne F4a 350 350 GMCVO I1.0} {1.0001 Coalfields Regewation Trust Your Housing Group National Lottery Community Fund 1,450 WMBC Deal Manchester "OCeSe energy grant 330 Foiever Manchester 100 1.975 1.538 4.513 10.380
Page | 14 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) - Unrestricted Funds----. Restricted t*5i8na¢ed Funds Total 2024 Total 2023 4 FEES & SIMILAR INCOME Rentsl income Statuttsry fees retained by the PCC Income frorn activities Magazine sales 11,307 11,307 3.141 1,125 401 15.974 6,735 4,387 3. 150 3.141 1,125 3.542 11.307 1.125 14,756 5 MISSION GIVING & CHARITABLE tKINAMONS R&E Leakey l YWAM 5,500 6.350 The Message Ttust 1,600 1.90Q Daylight 1.600 Atherton & Leigh F¢J)dbank 1,600 BOAZ Trust 1.000 Welcorne Churches 1.000 Christians Against Pov 500 Tearfund 500 Arab Work Ministeries 500 Restored 500 CMS re SAMS 1,900 Care For The Family Haratnbee for Kenya OMF International 14,300 15,350
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) - Unrestricted Fund5--- General De5i8nated Totsi 2024 Total 2023 Funds 6 OTHER OPERATING COSTS Building repairs - non routine items CAP project C05t5 CCP activities & services 28.811 28,811 26,692 26,692 25,634 11,460 26.958 5,023 6.311 3,555 5.149 17,056 21,998 9,634 Heat. light & water Youth artivitie5 Ilncl Staff c05ts1 BuiidTng repair5 routine items Insuran 10.872 10.872 17,778 9,547 1,428 9,547 7,539 13,205 7,336 5,340 6,111 SVC artivities & servi 6.416 6.416 Telephone, office costs. %SEb5ite & IT Fund raising fees COntritIon to Scw GoVerr. costs 6.121 6,121 5,713 2,767 7.611 5,713 2.767 2,487 Clergy & Reader5 expEnse5 Grounds rnaintenar 2.304 2.304 2.259 2,283 2,283 250 2, 172 500 Legal & Professional fees 250 34.600 50.773 61.036 146,409 117,278 7 STAFF COSTS Gross Pay EmpLoyers National InSUrae NICS Employment AILowance Pensions 36,189 1.821 39,285 1,821 38,916 1,732 11.8211 858 11.8211 858 (1,7321 794 Total staff costs 37,047 40,143 39,710 Avera8e number of staff 2024 2023 NuwntEr of part tirne Staff empiosEd FuLi-tirne equivalent staff nUmrS 8 INCOME FOR THEYEAR This is ststed after charging= Fees re Independent Examination 250 2(Kl The Independent Examiner agreed to waive fees, but thnation5 are paid to a feW PCC in recognition of his WDrk. The members of rhe PCC, ¥tho are the Chariiy Trusiees. are entitled io cLiim out of et exFenses LO cover F¥)5e, phone and rniieage. No cLiitll5 e math during either 5far. P(C memtrErs receive rK) remuneration in resrErt of their duties as Trustees.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) - Unrestricted Fund5--- General De5i8nated Totsl 2024 Total 2023 Funds Church 9 TANGIBLE FIXED ASSErs House Total Cost As at January 1 2024 Disposal in the year As at December 31 2024 Depreciation As at January 1 2024 Charge for the year Released on disposals A5 at De[be[ 31 2024 Net BO Value As at December 31 2024 As at December 31 2023 2024 2023 10 INVESTMENTS As at 1 January Cash invested 364,450 323,524 Cash withdrawi 168,9501 Revaluation gainlliossl 18.311 40.926 As at 31 December 313,811 364,450 11 DEBTORS Gift-aid tax rebates due 1.767 1,669 Prepayments 1,4Bi 3.150 1,767 12 CASH AT BANK AND IN HAND CBF Church of EngL4nd Desit Fund balare5 co.operative Bank balan Cash 75,403 96.698 52,955 19,883 1.078 523 129,436 117,104 13 CREDITORS falling due within e year AccnJaL% & deferred income 1.265 965 1,265 965
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (cont. ) 14 STATEMENT OF FUNDS Balance Gains / Balance 1 Jan 2024 Incowne Exdture 1055e5 1 Transfer$ 31 Dec 2024 disposals Restricted Fund5 held in trust for the Parish Schcd= Sd)ool improvement 11)6.855 10,098 116,953 Sub-trtai 106.855 10.098 116,953 Restrlcted Funds under dlrect control of the PCC: Stx>rts Uage Churth Yth vn)rker 63,139 5,816 16,4161 5,662 68,201 36.2 4.175 14.0651 36.112 Christians against px)verty 29,036 8,582 126,6921 10,926 Youth groups 26,244 750 11,7051 15,195 40,484 Friendship project 19.097 15.1021 113.9951 Operations managernent 4,307 18,5491 8,520 4,278 Outreach funds 2.361 1,058 11,7411 1,678 Flotr$ 1.974 15001 1.874 WeLcorne team 1,820 1,792 15,8641 2,748 Murn5 & tots 758 4021 356 YW AM I R&E Leakey supp)rt 4.5 14.5001 Sub-trrtal 184.738 27,073 {65.536) 5.662 14,720 166,657 Total Restrlcted funds 291.593 27.073 {65.536) 15,760 14,720 283.610 Designated - Major thurch Kirk5 147.480 128.8111 2.551 2.400 129.410 Designated - Church House 11,155 12,4(K) 114,4731 1,200 10,282 Designated - Property repairs 17,4891 5,100 1,117 Designated - FuncLional L7ling5 Designated - Bridgewaters Free reserve5 30.15 107.145 194.4(M)I 123.4201 19,330 Total Unrestricted funds 192.147 125.335 1145.173) Z.551 114.7201 160.140 Totsl fund5 483.740 152.408 1210.7091 1B.311 443.750
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (cont.) 14 STATEMENT OF FUNDS Iccffitinue¢Jl Restricted Funds Restricted funds represent giving. grants atKI (k)nations for 5PEcific pu[We5. Fund5 can onty LE used for those specific wrw5e5. Designated Fund5 Designated funds a funds alictated by the trustees for swfic wrrM)ses. These funds are revie*ed ULrIY and if there is no longer a need for the fund then it can be re&sed back to free reserves. Free re5erve5 Free reserves represents the amounts available to the trustees to meet its (going rtJli8ations. The trustees policy Is to hold 2-3 months operating costs in free reserves. At 31 December 2024 the balance represents 2.5 months. costs. 15 ANALYSIS OF NEf ASSEfs BEPIIEEN FUNDS Fund balances at 31 December 2024 are reented ty.- Unrestricted Funds General DesSgnated Restrlcted FLbnds Fund5 Fund5 Total Tangible fixed assets Investments 129,410 30,730 203,732 79,878 313,811 129,436 502 Bank and cash BaL4nce5 18.828 Other net current a55ets 502 19.330 140.810 283,610 443.750 16 OPERAMNG LEASE COMMITMENTS At 31 December 2024 the PCC had no ccffimitments uThJer )n-caeUabie operating leases. 17 TAXATION The Parish of Christ Churth Pennington is a registered tharity and is entitw to cbirn annual exemption frorn UK corporation tax under part 11 of CTA 2010. 18 CONTROLLING AND RELATED PARTIES The Charity is under the control of the eierted mernber5 of the PCC are the Charitys Trustees.