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REGISTERED CHARITY NUMBER: 1130813
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
PARISH OF ST MARY'S PORTSEA
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PARISH OF ST MARY'S PORTSEA
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 19
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PARISH OF ST MARY'S PORTSEA
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended
31 December 2024. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
St Mary's Parochial Church Council is responsible for all aspects of the day-to-day management of the
Parish, pastoral, spiritual, social and commercial. It also has the responsibility for the maintenance and
preservation of the fabric of all three churches and associated properties, i.e. St Mary's Church, St Faith's
Church, St Wilfrid's Church and Hall. St Mary's Churchyard is leased to the City Council.
The PCC also supports the Vicar and Parish Wardens in the management of the Trusts listed in the Financial
Statements.
The PCC continued to develop the simplified governance structure introduced in 2023. There is a Standing
and Finance Committee (with representatives of the 2 Churches alongside Wardens, and other Officers).
This meets between PCC meetings to support the Incumbent and Wardens in the leadership of the Parish.
There are other ad hoc and start and finish groups which address issues such as Social Justice, Young
People and families, Spirituality and IT/Comms.
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PARISH OF ST MARY'S PORTSEA
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENTS AND PERFORMANCE
Church Attendance
Electoral Roll: 236 (257 in 2023)
Baptisms: 24 (38 in 2023)
Weddings: 10 (9 in 2023)
Funerals: 115 (129 in 2023)
Average Weekly Attendance:
Adults 172 (172 in 2023)
Young People 46 (23 in 2023)
Worshipping Community 329 (294 in 2023)
Review of the Year
The aims and objectives of the Council are summarised in the Parish Vision. This vision has been revised
and reshaped in 2025. The vision and its objectives will continue to be reviewed annually and form the basis
of setting priorities for the coming year and measuring performance for the past year. The vision reflects the
Diocesan Vision of 'Rejuvenating Communities of Jesus Centred - Kingdom seeking disciples. The objectives
arise from our understanding of the Trinity and seek to reflect that understanding on how we seek to serve
God and His world, through our individual and corporate lives. The Vision seeks to ensure we use our
resources to fulfil these objectives and include within them both our financial, material and spiritual resources.
The Vision is summarised as: 'Being with God; Being with others; Being with creation’. This will continue to be
developed and reflected in the life of the Parish and the Governance structures.
2024 saw a continuing return of confidence in people sharing in the life of the church post COVID. However,
the full consequences and long-term effects are still to be fully understood, but from the Church's perspective
there has been a loss of a generation of young people (particularly from the choir) and an increasing number
of mental health issues affecting all ages. Through this period we continued to work with everyone whose
lives are touched through contact with our Churches and the pastoral offices. The importance of our online
presence and the regular streaming of services continues to be recognised and valued by all who access and
share in our life through it. We maintained our close co-operation with the five schools within the Parish, we
supported the work of HIVE Portsmouth and Fratton Together in providing volunteers and support to those
around us. The Church continued to play a lead role in community partnerships seeking to improve the quality
of life in the area and the work of the local Community Centres and other agencies. In Fratton the Church
continues to be closely involved with the process of identifying how best to follow up the work of Fratton big
Local through the establishment of Fratton Together (which is chaired by the Incumbent) and the opening of
the Fratton Pantry. The Fratton Federation, under the leadership of the Incumbent, also continues to be
significant for that community. We also maintain strong links with our neighbouring parishes in the Central
Cluster. This is particularly focused on the development of a Cairn (Benedictine Cell) for the Incumbents of
those Parishes.
During the year the Parochial Church Council continued its review of the resources, it has considered how
best to use these in furthering the work and witness of the Church in the communities that it serves. The
Parish vision and this review reflect the Deanery Plan and Diocesan developments. 2024 saw the transfer of
the property that was St Wilfrid's Church to the City Council and its opening as a Discipleship Centre for the
Church of the Redeemed. St Mary's continues to work with the Architect on the upkeep of the building. The
2024 Community May Fayre was affected by bad weather but continued to be enjoyed and valued by the
thousands who attended. It continues to be an important feature of the annual calendar for local community.
The Lantern Parade in November was the busiest yet - with just under a thousand taking part or watching the
walk-up Fratton Road/ The PCC had a grant from the Arts Council (c£50k) to commission a light installation
based on the building and its history. This was created by 2 local artists - with an international reputation -
Heinrick and Palmer. The Installation was a stunning piece.
There continues to be work developing ecumenical and interfaith partnerships. This work involves the
Incumbent as Chair of HIVE leading the review of the Interfaith Forum.
The music department under the leadership of Brian Moles, saw the choir at St Mary's maintain the high
quality of music in worship and the various recitals saw an increasing number attending, Brian was joined by
Grant Hardy, as Assistant Conductor, Revd Kate Marlow as Chaplain and it was good to welcome back Matt
Dixon as Assistant Organist.
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PARISH OF ST MARY'S PORTSEA
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The Incumbent was invited by the bishop to be the Acting Archdeacon of Portsdown alongside the incumbency of the Parish - this has been possible because of the support and skills of the Parish Ministry Team and other staff and volunteers, The accumulated effect of all these activities has been an ongoing growth in membership and a maintaining of a high profile within the local communities and further afield.
The PCC review the major risks which impact the work of the Church in the parish on a regular basis. Systems have been established to mitigate the significant risks. The major 'risk' currently are the works identified in the QI of St Mary's and the need to engage with significant fundraising to address them and the resources and time this will take. FINANCIAL REVIEW Financial review The total income on ordinary unrestricted funds was £230,229 and is detailed in the Financial Statements. £279,131 was incurred to provide the Christian Ministry from the parish of St. Mary, Portsea, which included the contribution to the diocesan parish share, which largely provides the stipends and housing for the clergy. The sum that the Churches in the deanery have to find is shared between the churches according to a formula that is based mainly on a head count of congregations and an assessment of its socio-economic situation. The net result for the year was £2,527 which decreased the unrestricted funds brought forward at the beginning of the year of £133,023 to £92,435 and decreased the restricted from £21,315 to £17,278. The Parish has endowments of £1,097,650. The St. Mary's Church Portsea Music Foundation makes regular reports to the PCC. Its work of supporting the choir and organ scholars of the parish church makes an important contribution to the ministry of the Parish as well as sharing some of the music costs of the parish church. Investment policy and objectives The parish investments are set out in note 5 of the notes to the Financial Statements. The policy of the parish is to invest in funds to maintain a balance between income yielding investments and investments that provide both income and capital growth. All investments are with the Church of England Investments Funds or the Charities Official Investment Funds as the parish believe these funds have a policy of good practice as regards social, environmental and ethical considerations in their investments.
Reserves policy It is PCC policy to maintain balances on unrestricted funds (if possible), which equates to approximately three months unrestricted payments, to cover emergency situations that may arise from time to time. The balances of £92,435 on unrestricted and unallocated funds at the year-end does not exceed this target. It is our policy to invest funds balances with the CBF Church of England Deposit Fund and CCLA Investment Funds.
STRUCTURE, GOVERNANCE AND MANAGEMENT The method of appointment of PCC members is set out in the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. On behalf of the Parochial Church Council
Reverend Canon R White Ms I James Mr P Morgan Vicar Churchwarden Churchwarden
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PARISH OF ST MARY'S PORTSEA
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS
The Parish of St Mary, Portsea has three churches. The parish is part of the Diocese of Portsmouth within the
Church of England. The correspondence address of the Parish is The Vicarage, Fratton Road, Portsmouth,
Hampshire, PO1 5PA.
The three churches are situated as follows:-
St Mary's Parish Church - Fratton Road, Portsmouth
St Faith's Mission Church - Crasswell Street, Portsmouth
The Parochial Church Council (PCC) is a registered Charity (No. 1130813).
PCC Members who have served from 1st January 2024 until the date this report was approved are:
Incumbent: The Revd. Canon Bob White
Associate Vicar: The Revd Wendy May Jacobs (from Sept 2023)
Asst Curates: The Revd. Sue Whitelock (SSM)
The Revd. Kate Marlow (SSM)
The Revd Rajiv Sidhu (until Feb 2024)
Licensed Reader: Fi Rosen (until Oct 2024)
Mandy Hollingsworth
Parish Wardens: Jackie Fisher (from May 2024)
Irene James
Paul Morgan (from May 2025)
Treasurer: Paul Morgan (until May 2025)
Kwamina Pearce-Binney (from May 2025)
Secretary: Linsey Johnson
Deputy Wardens: Audrey Barrett (until May 2024)
David Chatterton (until May 2025)
Lorraine Drinkwater (from May 2025)
Tunde Williams (from May 2024)
Deanery Synod: Lorraine Drinkwater Irene James Eugene Organ
Bev Nicholson Kwania Pearce-Binney
Elected Members: Alison Barnicott Cis Delmege Debbie Oliver
Maggie Moles Shirley Rudder Jenny Stemp
From May 2024:
Emma Chapman Alex Murray Debra Smith
From May 2025:
Claire Loveridge Lee Nicholson Anthony Njai
Maria Smout
Until May 2024:
Stuart Butler David Hambrook Sue Simms
Until May 2025:
Sandra Harris Chris Lavis Shelly Leggat
There were 4 parochial church council meetings (including the Annual Meeting) during the year up to the
Annual Meeting in 2025. There was an average attendance of 62%.
The PCC was assisted in its work by the following staff:
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D D D D D
3 3
112,163 94,092
3 3
46,892 16,024
3 3
18,105 19,431
930 23,112 48,787 32,424
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PARISH OF ST MARY'S PORTSEA
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted
purposes.
General funds represent the funds of the PCC that are not subject to any restrictions regarding their
use and are available for application on the general purposes of the PCC. Funds designated for a
particular purpose by the PCC are also unrestricted. Restricted Funds are used for the purpose for
which the income was given. Interest earned on restricted funds is applied firstly to the purpose for the
restricted fund and any surplus is applied to general purposes of the PCC. Endowment Funds are
invested to provide income for the general purposes of the PCC.
The accounts include all transactions, assets and liabilities for which the PCC is responsible in law.
They do not include the accounts of church groups that owe their main affiliation to another body nor
those that are informal gatherings of Church members.
Financial Instruments
The charity only enters into basic financial instruments transactions that result in the recognition of
financial assets and liabilities like trade and other accounts receivable and payable and investments in
stocks and shares. The measurement basis used for these instruments is detailed below.
Investments
Investments are stated at market value inclusive of accrued income as at the balance sheet date. The
statement of financial activities includes the net gains and losses arising on revaluation and disposals
throughout the year.
Realised/Unrealised gains and losses
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and
losses on investments are calculated as the difference between sale proceeds and opening market
value or purchase date if later. Unrealised gains and losses are calculated as the difference between
the market value at the end of the year and opening market value, or purchase date if later. Realised
and unrealised gains are not separated in the Statement of Financial Activities.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised
cost using the effective interest method, less any impairment
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other
short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are
shown within borrowings or current liabilities.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a
past event that will probably result in the transfer of funds to a third party and the amount due to settle
the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised
at their settlement amount after allowing for any trade discounts due.
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**4A**
D D 14,156 37,657 28,585 5,010 7,251 5,667 6,443 94,092 2023 D D 3 28,585 3 7,499 3 3 28,585 2023 D D 19,431 2023 D D 32,424 2023 D D
## **2A**
## **7A**
|Direct
Costs (see
note 7)|Support
costs (see
note 8)|Totals|
|---|---|---|
|D|D|D|
|249,986|29,145|279,131|
||2024|2023|
||D|D|
||97,633|93,208|
||7,665|8,339|
||85,906|30,684|
||41,517|15,316|
||1,814|(13,593)|
||11,556|9,601|
||3|4,000|
||3,895|3|
||249,986|147,555|
||Governance||
|Management|costs|Totals|
|D|D|D|
|25,403|3,742|29,145|
||2024|2023|
||Church|Total|
||activities|activities|
||D|D|
||21,232|21,873|
||704|277|
||78|3,320|
||3,389|3,504|
||25,403|28,974|
||2024|2023|
||Church|Total|
||activities|activities|
||D|D|
**8A**
D D 18,772 the year was as follows: 2024 2023 £60,000. ACTIVITIES Restricted Endowment funds fund D D D D 3 3 3 3 3 3 3 915 3
3
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-!'# value Additions Disposals Gains
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D D 12,941 7,011 3 4,577 17,518 7,011 DUE WITHIN ONE YEAR 2024 2023 D D 3 5,645 7,298 34,320 3,757 27,402 16,700 61,722 FUNDS 2024 2023 Restricted Endowment Total Total funds fund funds funds D D D D D
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D D D 3 (191,903) 3 (55,451) (837) 132 (23,393) 2,009 3 287 3 3 3 3 (1,814) 3
3 (3,895) 465 3 3
3
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D D D D
3
(124,897)
3
(23,817)
2,304 (3,222) 385
9,857 (10,396) 7,173
3 3
619
3 3 10
3 3 569
(162,332) 9,356
3 3
(18,092)
3
915 1,141
3 3
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PARISH OF ST MARY'S PORTSEA
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
16. MOVEMENT IN FUNDS - continued
The Drake Bequest represents funds given to invest and provide income for the maintenance of the
minibus for members of the Old People's Day Centre at St Faiths and St. Faith's Minibus Fund
represents donations, grants and funds raised for the replacement of the minibus for the old people's
day centre. As the centre has now closed down, the parish is using the interest on these funds to
assist the elderly in transport to Parish Events.
St Mary's Church Assistant Organist Grant represents a grant received to cover the cost of the
assistant organist.
St Wilfrid's Mission Church Restoration and Maintenance Fund was established from the sale of St
Wilfrid's church which can be used for the buildings and mission of the Parish.
St Faith's Mission Church Minibus Fund is a fund established to provide transport to enable people to
share in the life of the Parish.
St Faith's Organ fund is used to cover the cost of repairs and maintenance of the organ.
17. RELATED PARTY DISCLOSURES
The Parish of St Mary's Portsea paid fees of £112,335 (2023: £98,050) to the Portsmouth Diocesan
Board of Finance.
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