Stjames, by the Park THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JAMES, SHIRLEY, SOUTHAMPTON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CHAIUTY NUMBER: 1130875 THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESLISTICAL PARTSH OF STJAMLS, SHIRLEY, soirrHAMPTON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INDEX Pages Trustees, Annual Rqx)rt Independent Examiner's Report io-ii Statement of Financial Activities 12 Balancc Sheet 13 Notes to the Financial Statements 14-25 Page I THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF St JAMES, SHIRLEY, soufHAMPTON TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The tn]stees present their Amlual Rewrt and Financial Ststements of The Parochial Church Council of th¢ Eccl¢si&sticai Parish of St James. Shirley, Southampton (the PCC) for the year ended 31 December 2024. Th¢ Financial Stat¢m¢nts comply with the Trust Dee(L the Church Accounting Regulations 2006, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recomm¢nd¢d Pra¢li¢¢ applicabl¢ to charities preparing their Financial Statements in acwrdanc¢ with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102). REFERENCE AIYD ADMIMSTRATIVE INFORMATIOIY The Parochial Church Council of the Ecclesi&sti¢al Parish of St James, Shidey, Southampton encompasses the St James, ChurcK St Jamed RO8￿ Shirley. Sout1￿MptOn. Cbarity Name: The Parochial Church Council of the Ecclesiastical Parish of St Jam¢s, Shirley. Southampton Charity Regi8tration Number 1130875 Correspondenee Address: 133 Church StreeL southampto￿ H8mpshire, S015 5LW Th¢ Porochial Church Council of the Ec¢lesi&%tical Parish of St Jame4 Shirl¢y, Southampton was granted charitable status on 30 July 2009. Paroehial Chur¢h Council Trustees PCC Member4 are the ¢harity'S In￿tee8 who s¢rved during 2024 were: Ineumbent: Reverend Daniel Clark Chairn]an Appointed 26.06.12 WardeDS: Nicholas Smith Trncy King Appointed 26.04.21 Appointed 23.04.23 **Page2** # **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JAMES, SmRLEY, SOUTHAMPTON** ## **TRUSTEES' ANNUAL REPORT (CONTINUED)** **FOR THE YEAR ENDED 31 DECEMBER 2024** ## **REFERENCE AND ADMINISTRATIVE INFORMATION (CONTINUED)** |**Parochial Church Council Trustees (Continued)**
**Elected Members:**
Nichola Caveney
Geofrey Payne|**Parochial Church Council Trustees (Continued)**
**Elected Members:**
Nichola Caveney
Geofrey Payne|**Parochial Church Council Trustees (Continued)**
**Elected Members:**
Nichola Caveney
Geofrey Payne|Appointed 26.04.21
Appointed 26.04.21|Resiged 28.04.24
Resiged 28.04.24| |---|---|---|---|---| ||Rachael Young||Appointed 26.04.21|Resigned 28.04.24| ||David Snape
David Aber||Appointed 04-04.22
Appointed 04.04.22|| ||Peter Evans||Appointed 23.04.23|| ||Susie Hoare||Appointed 23.04.23|| ||Ugochi Okoli||Appointed 23.04.23|| ||Esther Ridsdale
Keit Watson||Appointed 23.04.23
Appointed 23.04.23|| ||Amy Currie||Appointed 28.04.24|| ||Helen Rushforth||Appointed 28.04.24|| |**Co-opted Members:**|Ugochi Okoli
Maie Gray||Appointed 04.04.22
Appointed 10.07 .23|Elected 23.04.23| |**General Synod:**|Simon Clif||Appointed 01.10.15|| |**Diocesan Synod:**|Ester Clif
Keith Watson||Appointed 01.08.15
Appoited 17.10.24|Resigned O 1.08.24| |**Deanery Synod:**|David Bates
Rosemay Brooks
David Wagsta
Taa Watson||Appointed 23.03.14
Appointed 03.04.19
Appointed 23.03.14
Appointed 21.10.24|Died 16.08.24| ||Esther Clift||Appointed 23.04.23|| |**Advisors to PCC in**
**Attendance:**|Theresa Bowen
Maie Gray
Vincent Parker|Secreta
Treasurer|(fom 01.01.23)|| |**Paid Staf:**|Teresa Bowen|||| ||Josh Cook|||| ||Angel Itzstein|||| |**Our Advisors:**||||| |Bakers:|Nationa Westminster Bak Plc
68 Above Ba Steet, Southapton, SO 14 7DS|||| ||Nationwide Building Society
Kings Park Road, Moulton Park,||Northapton, NN3 6NW|| Independent Examiner: Abraham & Dobell 230 Shirley Road, Southampton, SO15 3HR Page 3 THE PAROCKIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARtSH OF STJAMES, SHIRLEY, SOUTHAMPTON TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER2024 OUR PURPOSES AND AcrtVlTIES The purpose of the PCC is: to co-operate with the incumbent (vicar) in promoti￿ in the P8Tish. the whole mission of the church; and to rnise appropriat¢ mattws for d¢bate at diocesan or d¢aD¢ry synod Eevel. In practice, that means that the role of the PCC is to confer on all mattcrs ￿lating to the life. ministy, worship, service, evangelism and buildings of the parish. to discuss and decide on (within its ststutory powers)the strategy and Folicy ofthe church. In order to achieve thi4 membeL3 will need both to canvass opinions within the church and initiate discussion in areAs needing fresh att¢ntioTh. Publi¢ Benefit Statement All of our activiti¢s undertaken to further our charitable purpogs for the public benefit. In planning our activities for the year we have con5ider¢d the Charity ConuDission's guidance on public benefit, including the guidance 'Public Benefit: Running a Charity (PB2)' and, in particular, the supplementsry guidance on charities for the adv8ncement of religion. St Jam¢$' by th¢ Park- who we are and wbat makes us tlck Our vision is to: Go deeper with God Grow closer to each other Reach further with the love of Jesus Our foundations are: God (loving Father. Saviour Son. empowcring Spirit) Bible (God's inspired word, essential for life and faith) Church (ordinary people following the extraordinary Jesus together) Page 4 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLLSIASTICAL PARISH OF (coNriNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE Sunday Service AtteDdaDee The average weekly attend8n¢¢ at Sunday %rviees was 104 adults. Vlear's Revlew of the Year Our church vision is to: Go deeper with God Grow ¢los¢r to each otFKr Reach further with the love of Jesus Looking b4¢k to see what God was doing among us in 2024. one theme that em¢r8es is prayer - which helps us go deeper with God. In January) we started our Prayer for Young Disciples initiative. Each Monday morning. a faithful group meet online to pray for the Church of England's vision of doubling the number of children and active young disciples by 2030 - and for how we can play our Part in realisin8 that vision here in Shirley. It's a bold vision, and needs much prayer! We're very grateful to those who join this prayer gathering regularly or who pray by themselves at home. A weekly 'Encountcr with God. PTayer gathering has also been started - providing a quiet space for those who want to listen to God &8 well &8 intercede. In the Spring tem), we ran Clwllenge MarK 8 6Hay Teadin8 plan to tske us through Mark's Gospel together. Lots of us joined in and benefited from hearin8 each other's questions and insights day by day. and I was particularly pleased that some who weren't in a regular habit of reading the Bible by themselves joined itL We followed this up with a similar project - Adventure through Acts - aftcr E&ster. Some of our Sunday teaching deliberately stretched us, to help us go deeper. In the autumn we explored the nature of God (he's eternal, all-powerfuL beyond time) and why that IS good news for us. How have we tried to grow closer to each Othe￿ After all, our love for each other is supposed to b one of our defining characteristics as followers of Jesus! We've Continu￿ our church lunches. including a fun pancake lunch and marvellous international lunch. We'v¢ also been encouraging more F¢ople to serve on teams, Nvhich is a wonderful way to grow closer. And we certainly couldn't run one-off events like Holiday @ Home, the Holiday Bible Club, Easter Story Live, YOUthfe￿ and Christnw on the Green without such teams! I'm incredibly grateful for all who serve the Lord and his church at these events- as well as to those who serve faithfully week in. week out. Page 5 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLLSIASttCAL PARISH OF (CONTMJED) FOR THE YEAR ENDED 31 DECEMBER2024 ACHIEVEMENTS AND PERFORMANCE {CONfiNUED) A new men's discipleship group started up in the Autumn Called The Twelve. Meeting over a meal. the group has established ncw friendships and deepened existing ones - as wcll as discussing how b¢ing follow¢rs of Jesus impacts our home and work life. In the Autumn, we also start¢d publishing an occasional printed newsletl¢r. which aims to come out every 2 months. This may seem a small thin& bul was initially inspired by thinking aboul what we could provide for members of our community who are housebound and unable to access liv¢slreams of our services. Initial feedb￿k is that the newsletter h¢lps th05¢ precious people feel connected with th¢ church. And how have we tried to reaeb further wltb the love of Jesus? In 2023 we started three new ventures that we have consolidated and developed in 2024: Holiday@ Home. the Holiday Bible Club and an Alpha course rLm jointly with the local Methodist Church. Together with other local churches we ran Christmas on the Green, a community event involving crafts, carols. a brass band and a telling of the Christmas story, which was well attended great fun. In the summer we ran 'St James. In the Pth.. Being in a more open space meant more people got to see church in action - and some comment¢d on how our service was livelier and the congregation more mixed than they had anticipated. A team from the environment cell group aSs0 had a gazebo at the Big Green Festival in the park- and were able lo show many local residents how w¢ 8re inspired and instructed by Father God to be good stewards of th¢ ¢nvironmenL The year finished with an even bi88er or¢hestrn at our candlelit caml service4 and ¢ven more people from the Eocal community coming to IKar th¢ good news about Jesus. We held two services to fit everyone in. In tern￿ of leadership) a group of six people (some staff, some PCC m¢mbers and one ministy leader) are on a year-long 'Grow Course.. Run by the Chu￿￿ of En8land, it is encouraging us to think through topics like Visio￿ discipleship and Multiplic￿lOn. That will help us in 2025 and iwond. We have made 80(Kl progress with our buildings proJee( including setting up a Buildings Vision Group who have work¢d extremely hard to go to the next level of detailed planning for the Parish Hall. And wonderfijlly - and at last- we've gained planning pern)ission for the work5. God-willin8, we will stt significant progress in 2025. Page 6 THE PAROCHtAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PAIUSH OF sTJAM￿s SHIRLEY, soifTHAMPTON TRUSTEES. AIYNUAL REPORT (coiYriNUED) FOR THE YEAR ETqDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE (coKfiNUED) However, a challenge for us in 2025 will b¢ to make sure the buildings don't become th¢ vision- our vision must remain eentred on Jesus! And we will need to make sure we never slip into thinking that the buildings will do our mission for us. Hopefully our renovated buildings will be much better spaces into which to welcome people and will therefore help (rnther than hinder) our mission. But the onus will still be on to share the love of Jesus with peopl¢, in ￿tion and word - in our home workplaces and le1su￿-pla¢C$, as well as in our buildings! 4sFor I am not asham¢d of the gospel, because it [and the gospel alone] is the power of God that brings salvation to everyone who believes" (Romans 1:16 NIV). May th¢ Lord keep our focus on him, our hope in him and OUT love for him burning bright in 20251 FINANCIAL REVIEW The PCC'S total income for 2024 w&$ £289,474 {2023 £277,921). Of thi8 £265,837 were unr¢stricted fi￿d$ and £23,637 were inieTest earned on restricted funds from the sale of the St John's Church building in July 2022. Net expenditure was £267,805 (2023 - £285,831). This resulted in a net deficit in unrestricted fimds for the year of £1,968 and an overall net SUTplus of £21,669 (2023 - net deficit £7,910). 2024 2023 Unrestricted income Expenditure 265,837 267,805 260,106 285,831 Net surplusl(deficit) on unrestricted funds (1,968) (25,725) Restricted income 23,637 17,815 Net surplusl(deficit) on all funds The balance sheet shows that the overall funds of the PCC, including fixed a&8ets, at the end of 2024 W&8 £708.459 (2023 - £686,790). Of this, £129,315 w&s free cash reserves (2023 - £132,146) and £474,489 was T¢stiicted funds (2023 - £450.852). Income The PCC'S unr¢stricted income increased by £5,731 (2023 - decreased by £16,089) in th¢ year. This is mostly due to an increase in income from giving and from rent received for the Parish Hall. Total donations were £202,373 (2023 - £200,180), which represents an incr¢ase of £2.193 (1 %) compared to th¢ previous year. Gift ald recovered has remained level. being £44.652 in 2024 compared with £44.640 in 2023. Page 7 THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLFSIAsfIcAL PARISH OF TRusfEES' AIYNUAL REPORT (Co￿tINuED) FOR IHE YEAR ENDED 31 DECEMBER 2024 FINAIYCIAL REVIEW (CONTINUED) Additional restricted income of £23.637 earned as interest on money received from the sale of the St John's Church building in July 2022. The totsl rw¢iv¢d for th¢ sale was £548,148. Of this. 790/0 (£433.037) are restricted to use locally within th¢ parish: they are being held and invested by the Dioce￿ of W￿cheSter on our behalf and can only be spent with our authorisation. The remaining 210/0 (£115,11 l) of the proceeds are the subject of a reverter clause that was put in place when the money to buy the land w&8 gifted to the PCC. Our entitlement to this portion of the sal¢ proc¢¢ds is still awaiting clarification and it eannot yet be recognis¢d as income. This Frf)rtion is also being held by the Diocese of Winche*r whilst this proc¢ss tskes place. Expenditure Total expenditur¢ in the year was £267.805, a decre￿ of £18,026 (6Yo) compared to th¢ previous year but lower than the predicted expenditure which w&8 set in the amiua] budget at £283,737. The main areas of cost were: 2024 2023 Contribution to Dioces￿ Common Mission Fund Lay staff salaries Buildings (m8int¢nance. improvements insurance and utilities) 79,508 100.675 31.501 84,177 97,623 55,151 The payment of £79.508 10 th¢ Common Mission Fund was as requested by the Diocese, and represented a de￿ of £4,669 from 2023. Annual Salary costs rose by £3,052 due to a r￿t of living increase awarded in April 2024. Annual expenditure on buildings decreased by £23.650 overall. This reflects a de¢rease in the cost of utilitics. the recovery of VAT on building work under the Listed Places of Worship Grant Scheme, and the deferral of further sknKtural work to n¢xt year. Expenditure on the planned redevelopment of the church buildings was £5,587, a srna]l increase from the previous year (2023 - £4,980). We were able to give away a total of £l1.615 lo various mission parthers (£3.0(M) to S¢rnt¢l4 £1.500 to Arocha UL £4,000 lo CMS Mi&8ion Hub, £l.000 to Enable £2.000 to work in Myanmar, and £115 to local charities). In additio￿ our Christsnas appeal raised over £4.000, which was divided between Caraway, a local chaTity who sUp￿rt families coping with dementi4 and the Pea¢¢ C¢ntre in the Dernocrntic Republic of Congo. which provides a safe space for those affected by war. PAge 8 THE PAROCHtAL CHURCH COUNCIL OF THE ECCLESIAsfIcAL PAIUSH OF TRusfEES• ANNUAL REPORT (CONTENUED) FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW (CONTINUED) Summary and Outlook The deficit difference of £1,968 between unresthcted income and expenditure in 2024 is better than expected in the light of the operating budget set for the year. which predicted a deficit of £27,937. This was mainly due to income being higher than anticipated (actual of £265,837 versus budget of £255.800) and expenditure being lower than expectrd (actuaj of £267.805 versus a budg¢l of £283.737). This outwme reflects the resilience and generosity of our donors, to whom we are v¢ry grateful. As we look to the future, our healthy cash reserves allow us to bc bold in our plans for our ministry and buildings, whilst continuing to be 80(xl stewards of what has been entrusied to us. In the light of this the PCC has agreed a deficit budgel of £27,000 for 2025. However. we are mindful that ywly deficits of this siz£ will use up our unrestricted reserves within 4 years or $0 and are therefore not sustsinable long-temi. We are hopeful that a growing and vibrani ministy tO8ether with prudent use of our sour¢¢s will enable us to address this. The restricted funds obtsined from the sale of the St John's Church building in 2022 ¢ontinue to be inveskd until development of the remaining buildings is ready to be8in. Resetvej Polley *nd Colng Coneern The reserves policy is to hold the equivalent of 3 rnonths, expenditure in unrestricted funds to allow us to adapt to any changes in the income or expendilure of the ¢hurch. This policy will b¢ reviewed annually. Budgets are sel in the light of this and actual financial performance and reserve levels are monitored by the PCC throughout the year. The members of the PCC att of the view Ihat the PCC is a going concern. STRucfuRQ GOVERNANCE AND MANAGEMENr Governing Do¢ument The Parochial chU￿h Council of the Ecclesi&4ical Parish of St James Shirley. Southammon is a Ix)dy established by the Chuwh of England The PCC oF¢tate5 under the PCC Powers Measur¢. The PCC is a charity registered with the Charity Conllwon on 30 July 2(X)9, numlxr 1130875. Recrnitment and AppoinlmeDt of PCC Members Induetion #nd Tr•lDing The method of apw)intment of PCC members is that PCC members must bc on the Electorni Roll. They are elected at th¢ Annual Parochial Churth Meeting for a three-year temi of office. New members are given induction into the ￿SpK)nsibil1tiCs and methods ofprocedure of the PCC. All ehurch attendees ar¢ encouraged to r¢gister on the Electoral Roll and can stsnd for election to the PCC. Page 9 THE PAROCHtAL CHURCH COUNCILOFTHE ECCISs￿￿IcAL PARISH OF (coiYriNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEME￿ {CONfINUED) Risk MaDagen)ent The major risks to which the PCC is extM)saL as identified by the memE¢r4 have been reviewed and systems or prO￿dureS have been &stsblished to manage those risks. RESPONSIBILITIES OF THE TRu￿EEs The trustres are responsible for preparing the Tn￿, Annual Re￿rt and the Financial Statements in accordance with applicable law and United Kingdom Accounting Stsndarts (United Kingdom Generally Accepted Accounting Practice). The law applÉcable to charities in England and Wales rcquir¢s the InLStees to prepare Financial Statements for each financial year, which give a true and fair view ofthe state of affairs of the charity and of the incoming resources and application of resources of the chaTity for that period. In preparing those Financial Statements the ttvsteu are required to: select suilable ar￿UntIng p)licies and apply them coTrsistently" observe the methods and principles in the Clwities SORP (FRS 102): make judgements and estirnates that are reasonable and prudent" slate whether applicabl¢ accounting standards have been follow￿ subject to any departures disclosed and explained in the Financial Slatements: and prepare the Financial Statements on the going concern b&sis unless it is inappropriate to presume that the charity will continue in b￿sineSs. The trustees are responsible for maintsining proper accounting record4 which disclose with reasonable accuracy at any time, the financial position of the charity and to eDable them to ¢nsur¢ that the FxnanciaL Ststements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008, the provisions of the trust deed and the Church Accounting Regulations 2006. They are also responsibl¢ for safeguarding the as￿ of the charity arf hence. for taking reasonable steps for the prevention and detection of fraud and other irregularities. INDEPEIYDENf EXAMINER A resolution to Te-appoint Abraham & Dobell as Inde￿￿1 Exami￿ for the ensuing y¢ar be proposed at the Annual Church Meeting. Approved by the Irustees on 24 Mareh 2025 and SigDed on tbeir behalf by: REVEREIYD D CLARK M GRAY Page 10 INDEPENDENT EXAMINER*S REPORT TO THE TRUSTEES OF THE PAROCH￿ CHURCH COUNCIL OFTHEECCLESIASTICAL PARISH OF ST JAMES SHIRLEY. soifniAMPTON FOR THE YEAR ENDED 31 DECEMBER 2024 I r¢port to the charity trust¢¢s on my examination of the accounts of the Parochial Church Council of the Ecclesiastical Parish of St James, Shirley, Southamptofy (the Trust) for the year ended 31 December 2024. RESPONSIBILrfIES AND BASIS OF REPORT As the charity trust¢¢s of th¢ Trust you ar¢ responsible for th¢ pr¢paration of the accounts in aLYordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carried out und¢r section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. INDEPENDEiYf EXAMINER?S STATEMENT Sincx the charity's gross income exceeded £250,000 your examiner must be a m¢mber of the body listed in section 145 of th¢ 2011 Act. I conf]rni that l am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my exaMIn￿on. I confinn that no material matters hav¢ 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 Tn￿ as required by s¢ction 130 of the ACL or the accounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Rq)orts) Regulations 2008 other than any requirem¢nts that the accounts give a 'true and fair view which is not a Matter considered as part of an independent examination. or the accounts have not been pr¢par¢d in accordance with the methods and Principles of the Statement of Recommended Practice for accounting and r¢porting by cl)arities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Page JI INDEPENDE1￿ EXAMINER*S REPORT (CONTINUED) TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FOR THE YEAR ENDED 31 DECEMBER 2024 I have no concerns and hav¢ com¢ acro&8 no other matters in conncction with the examination to which attention should be dra￿ in this ryort in order to enable a proFer understanding of the accounts to be reached. DAVID J MANf FCA INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND & WALES 230 Sbirley Road Southampton S015 3HR 24 Mareb 2025 Page 12 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PA￿SH OF STJAMLS, SHIRLEY. SOUTHAMPTON STATEMENT OF FINANCIAL AcfMTILS FOR THE YEAR ENDED 31 DECEMBER 2024 Unrutrict¢d Restrieted FuDd$ Funds Total Funds 2024 2023 Notes INCOME Donations and legacies Charitable activities Other income 247,025 15,194 3.618 247,025 244.820 15.194 11,556 27255 21,545 23.637 TOTAL INCOME 265,837 23,637 289,474 277,921 EXPENDrruRE Charitable activities 267,805 267,805 285,831 TOTAL EXPENDTTURE 267,805 267,805 285,831 NET INCOME FOR THE (1,968) 23.637 21.669 (7.910) NET MOVEMENf ]N FUNDS FOR THE YEAR (1,968) 23.637 21,669 (7,910) RECONCILIATION OF FUNDS Total Funds Brought Forward 235,938 450,852 686.790 694,7Crf) Total Funds Carried Fonvard £233,970 £474.489 £708.459 £686,790 The Stslement of Financial Activities includes ail gains and105ses r¢¢ognised in the year. All income and expenditure derives from ¢ontinuing activities. Tbe notss on pages 14 to 25 forni part of th￿e Finaneial Statements Page 13 THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF STJAMES, SHIRLEY, sOirrHA￿0N BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Tangible fixed assets 10 104,655 103,792 TOTAL FIXED ASSETS 104,655 103,792 CURRENT ASs￿s Debtors Cash at bank and in hand 474,980 149,535 472,239 132.080 12 TOTAL CURRENT A&SETS 624,515 604,319 LIABILITIES Creditors: Amounts falling due within one year 13 20,711 21J21 NET CURREIYT ASSETS 603,804 582,998 TOTAL ASSETS LESS CURRENT LIAB[L￿lEs1N￿T ASSETS 14 £708,459 £686,790 15 Unrestricted income funds Restricted fimds 233,970 474,489 235,938 450,852 £708,459 £686.790 Approved by the trustees on 24 March 2025 And signed on their behalf by: REVEREND D CLARK M Gli4Y TREASURER Tbe notes on pages 14 to 25 forni part of these Finanelal Statements Page 14 THE PAROCHtAL CHURCH COUNCIL OF THE ECcLES￿lcAL PARISH OF NOTES TO THE FINAIYCIAL STATEMENTS FOR THE YEAR EIYDED 31 DECEMBER 2024 ACCOUhTING POLICIFS The principal accounting policies adopted iudgemcnts a￿1 key sources of estimation unce￿Inty in the preparation of the Financial Statements are as follows: (a) BASIS of Preparation Th¢ PCC is a public benefit ¢ntity within the M￿ling of FRS 102. The Financial Statements have been prepared in acconlance with Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable to charities preparing their Financial Statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - {Charities SORP (FRS 102)), the Finon¢ial Rep)rting Stsndard applicable in the UK and Republic of Ireland (FRS 102) and the Church Accounting Regulations 2006. The Financial Stat¢m¢nts have been prepared under the historical wst convention except for th¢ valuation of inv¢stment &ssets which are shown at market value wI￿e applicable. The Financial Stat¢ments include all transactions. assets and liabilitie$ for which the PCC is responsible in law. They do not include the Financial Statem¢nts of Church groups that owe their main affiliation to another tM)dy. nor thos¢ that are infornial gatherings of Chur¢h members. The Financial Statements are prepArcd in sterlin& which is the functional currency of the PCC. Monetary amounts are round¢d to the nearest £ (b) In￿rne ReeognitloD Polleies This section d￿rib¢S how the PCC will aco)uDt for money and other &8sets received by them. The main headings are the accounting groups to comply with requiments of the SOFA. (i) Donations and Le Grants and donations are rec￿ls¢d when any pre-conditi0tt8 preventing their use have been meL Amounts promisol und¢r Gift Aid are recognised only when honournl by the donor. Income Tax rwA>verable on Gift Aid donations is reCO￿llS¢d when the donation is Funds raised by P&ish events are accounted for grnss. Page 15 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF srJAMES, SHIRLEY, SOUTHAMPTON NOTES TO THE FINANCIAL STATEMENrs (CONfINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES {CO1￿1NUED) (b) Ineome Reeognition Polieks (ContiDued) (i) Donations and L acies (Continued) Donated services and fa¢iliti¢s ar¢ included at th¢ valu¢ to the PCC where this Can be quantified. The value of services provided by volunteers has not been included in these Financial Statements. Legacxes to the PCC are accounted for as soon as the PCC is notified of its legal entitlemenL the amount due is quantifiable and its ultimat¢ receipt by the PCC is reasonably ce￿1 (li) Income from Charitable Activili Parochial fees due to the PCC for weddings, funerals and otheractivities are aLYounted for on an event by event b&sis. Income from sales of book& magazin¢s, Traidcraft goods and all other items are accounted for gross. Rentsl income from the letting of Church premises is accounted for when earned. (iii) Investment Income tnterest is accounted for when du& Tax recoverable on s￿h income is accrued on same basis. (iv) Other Income Other ordinary income will be accounted for as soon &8 the PCC is advised of its entitlement and th¢ likely sum due. (c) Expenditure Expenditure is recognised on an accn￿lS basis where ther¢ is a legal or constructive obligation and settlement is probable and quantifiable. Expenditure includ¢s VAT as the PCC is not VAT registered and is reported ￿ part of the ¢xp¢nditure to which it relafrs. (i) Charitable Activities Grants and donations are accounted for when paid or when promised under a fom]al agr¢em¢nL Unpaid • and donations will be shown as a c￿dItOr in the Balance Sheet. Page 16 THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF ST JAME& SHtRLEY. SOl￿HAm1￿0N NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER2Q24 ACCOUNTJNG POLICIES (CONfiNUED) (c) Expenditure (Continued) (i) Chari le Activities (Continued) The Diocesan Common Mission Fund is accounted for when payable and any share unpaid at 31 December is shown a8 a creditor in the Balance SheeL Rent due on facilities is accounted for when the facility is used and any rent unpaid at 31 December is shown as a creditor in the Balance Sheet. All other Costs a￿ accounted for when du¢ and any unpaid at 31 December are shown as a Creditor in the Balance SheeL rtco Suptrt)rt costs include central fimctions and have been allocat￿1 to activity Cost cat¢gori¢s on a b&sis consistent with th¢ us¢ of resou￿. (iii) Governance Costs These include those costs &w)ciated with meeting the statutory wuirements of the pcc. (d) Fixed Assets (i) Consecrated Land and Buil ' s and M vable Church Furnishin Consecraied and beneficed propety is excluded from the statutory definition of 'charity' by sections 10(2Xa) and (c) of the Charities Act 2011. No value is plac￿ on movable church fiwnishings held by the church ward¢ns on special tr￿st for the PCC and which require a fxulty for disposal since the PCC considers this to be an inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and mov¢able church fun)i* whether n]aintenance or improvement, is ￿Itten off. (li) Other Land and Buildin Other land and buildings held on behalf of the PCC for its own pur￿SeS is valued at cost or market value. No depreciation is charged against such properties but any eXI￿nditUre on maintena￿¢ or improvement is written off as incurred. (iii) ther Fixtures Fittin and Office ent Equipment putchased or donated to the church is depreciated on a straight line b&sis over four years. Individual items of equipment with a purchase price of £1,000 or l¢ss are written off in the period in which the asset is acquired. Page 17 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF sr JAMES, SHIRLEY, soufHAlkWON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (CONTINUED) (e) Debtors Amounts owing to the PCC at 31 Dec¢mber in resFttt of fees, rents or other income are shown &$ debtors less any provision for amounts that may prove uncollectable. (fj Cash at Bydnk Short tenn deposits include cash held on deposit at the bank. (g) Creditors and Provisions Creditors and provisions are recognised where the PCC has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be rn￿ured or estimated reliably. (h) Taxation The PCC is exempt from taxalion on its ¢I￿ltable activities. (i) Fund AeeouDting Unrestricted Funds represent the fimds of the PCC that are not subject to any restrictions regarding their use atyj ar¢ available for application on the general punyM of the PCC. Restricted Funds are those funds that must be spent on Testrided puw. All othermoney and assets are part of the Unrestricted Fund& The pUry￿se of any Restricted Funds is noied in the Financial Sta*ments. O) Finan¢ial Instruments The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrumenls are initially recognised at transaction value and subsequently measured at their settlement value. (k) SigDifieaDt Judgements and Estimates Preparation of the Financial Statements nmy require the trustees to make significant judgements and estimat¢s. There are no items in the Financial Statements where judgements and estimates would have a significant eff¢ct on amounts recognis¢d in the Financial Statements. Page 18 THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLLSIASTICAL PARISH OF STJAMLS SHIRLEY, soufHAMIryON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER2024 DONATIONS AND LEGACIES Unrestrleted FuDd8 Totsl Funds 2024 2023 Regular giving COll￿tiOnS at services All other giving, including special appKals T&Y recovered.. Gift Aid 198,560 198,560 197,710 587 587 951 3,226 3226 1,519 44,652 44,652 44,640 £247,025 £247,025 £244.820 In 2023 the income from donations and legacies of £244,820 w&8 unrestiicted. There were no donated servi¢¢s and facilities receivable which could be quantified in the year (2023 - none). INCOME FROM CHARITABLE AcfiviTIES Unrestrl¢t¢d Funds Total Funds 2024 2023 Fees Rent- Parish Hall Rent- Others Sales 1,128 12,679 305 1.082 1,128 12,679 305 1,082 733 9,795 589 439 £15,194 £15.194 £11556 In 2023 the incom¢ from cftwitable a¢tivities of £11,556 was unt¢stricted. Page 19 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF sTJAm￿ SHIRLEY, soirrHAMPTON NOTES TOTHE FINANCIAL STATEMENrs (CONfINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 OTHER INCOME Unrestrlcted R¢Btrieted Funds Fundi Total FuDds 2024 2023 Bank interest Other 3,618 23.637 27,255 21,081 £3,618 £23,637 £27,255 £21,545 In 2023. bank int¢rest of £17,815 was Testricted. The rest of the other income of £3,618 was unrestricted. ANALYSIS OF EXPENDrruRE ON CHAR￿ABLE ACTIVITIES Cbureh Totsl Funds A¢tfvIt1￿ 2024 2023 Contribution to Diocesan Common Mission Fund Non-administrative staff salaries staff￿orkers and visitor ¢xp¢nses Training Services, youth and children's work and other ¢v¢nts Music and worship School hire 79,508 68,723 1,924 2,092 18,686 1.740 986 79,508 68,723 1,924 2,092 18,686 1,740 986 84,177 66,583 2,198 1,445 15,407 2,378 743 Eiii Buildings n￿Intenan￿ improvements Insurance Utilities Cleaning Support costs Govemance costs Donations - UK 8nd overseas Missions Depreciation 12.790 4,785 13,926 5,954 43,549 850 11,615 677 12,790 4,785 13,926 5,954 43,549 850 11,615 677 32292 4,575 18,284 5,399 39,708 850 11,500 292 £267,805 £267,805 £285,831 In 2024 the expenditur¢ on charitsble ￿tiVitIeS of £267,805 was unrestricted (2023 - £285.831 Page 20 THE PAROCHtAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JAMES SHIRLEY. soufHAMIryON NOTESTO THE FINANCIAL STATEMEIYTS (COIYTINUED) FOR THE YEAR ENDED 31 DECEMBER2Q24 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS The PCC identifies the cosls of its support fimction. It then identifies those costs which relate to the governance function. The PCC allo¢ates the support and gov¢rnance costs entirely to the unrestricted expenditure (note 5). G¢D¢ral Support GovernaD¢e Total Basis of Funds Apportlonment Administrator's costs Offi¢e ¢osts Professional costs 36,943 6.606 36,943 6,606 850 Usage Usag¢ Governance 850 £43,549 £850 £44,399 ANALYSIS OF STAFF COSTS 2024 2023 Salaries and wages Empk)yer's National Insuron¢¢ Contribulions Employment Allowance Employer's contributions to pensions 91,235 88,844 8,825 8,495 (5.000) (5,000) 5,615 5284 £100,675 £97.623 The average number of employees during the year was 3 (2023 - 3). No ¢mployce received emoluments in excess of £60,000 (2023 - none). Page21 THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF STJAMES, SHIRLEY, soirrHAMPTON NOTES TOTHE FINANCIAL STATEMENTS (CONfiNUED) FOR THE YEAR ENDED 31 DECEMBER2024 TRUSTEES. REMUNERATION AND EXPENSES AND RELATED PARTY TRANSAcfioNS No payments or expenses vKre paid to any ttwt¢e. persons closely connected to them or related parties, apart from: 2024 2023 Reverend D Clark Martin Caveney (contractor- church maint¢nance; husband of Nichola Caveney) David Arbery (director of Spectrum Signs and Workwear Ltd - Items purchased) 928 1,568 1.454 918 £3,300 £2,790 DONATIONS FROM TRUSTEES AND RELATED PARTIES Aggregate of the total amount of donations receiv￿1 without eonditions from ttvstees and related parties w&8 £70,045 (2023 - £72,637). Page 22 THE PAROCHIAL CHURCH COUNCIL OFTHE ECCLESIASTICAL PARISH OF NOTES TO THE FINANCIAL STATEMENTS (COIYTINUED) FOR THE YEAREIYDED 31 DECEMBER2024 10. TANGIBLE FIXED ASSETS 133 Church Parish Street Hall Equipment Totsl Cost At l January 2024 Additions 48,500 55,000 8,197 111,697 1,540 1,540 At 31 December 2024 48,500 55,000 9,737 113,237 Depreciation At l January 2024 Cbarge for the year 7,905 677 7,905 677 At 31 December 2024 8,582 8,582 Net Book Values At 31 December 2024 £48,500 £55,000 £1.155 £104,655 At 31 December 2023 £48,500 £55,000 £292 £103,792 The Parish Hall was valued at £55.000 during the year to 31 December 1997. This valu¢ has been Included in these Financial Statements for the year ended 31 December 2024. I I. DEBTORS 2024 Other debtors Prepayments Money held by Diocese 79 21,271 412 116 474.489 450,852 £474,980 £472239 Page 23 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF srJAMES, SlllRLEY. soifniAMPTON NOTES TO THE FINANCIAL STATEMENts (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12. CASH AT BAIYK AND IN HAND 2024 2023 Bank current account Bank savings account CotE DeFX)Sit Fund C&8h in hand 57,522 6,141 85,827 45 19.997 30.509 81,501 73 £149,535 £132,080 13. CREDrroRS: Amounts fAUing due wlthin One year 2024 2023 Other creditors and accnjals PAYE and NIC 18,699 2,012 19,356 1,965 £20,711 £21,321 14. AiYALYSIS OF NET ASSETS BETWEEN FUNDS 2024 UDrestricted Restrlcted Total Funds Funds Funds 2023 Total Funds Fixed assets Current assets Current liabilities 104,655 104,655 103,792 150.026 474,489 624,515 604J19 (20,711) (20,711) (21.321) £233,970 £474.489 £708,459 £686.790 Page 24 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLFSIASTICAL PARISH OF NOTFS TO THE FINANCIAL STATEMENTS (CONfINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15. ANALYSIS OF CHARrrABLE FUNDS At Ineomlng OutgoiDg At 01.0124 Resouretj Resources 31.1224 Anatysb of MovemeDts In Unrestri¢ted Fun General Fund 235,938 265.837 267,805 233,970 Total unrestr￿ 235.938 265.837 267,805 233.970 Restrieted Funds Parish fillKI 450,852 23.637 474,489 Total R¢stri¢ted FuDds 450,852 23.637 474,489 Total Funds £686.790 £289,474 £267,805 £708,459 UDrtstriel¢d Funds comwise those general funds which the PCC is free to use in aLYordance with dwitable obi￿ts. Restrkted Funds fuThJs which have been given for particular purposes aThl projects. Parish Fund - The PCC h&s one restricted fuTMI arising from th¢ sale of St John's Church Buildings. The fund is restrict¢d to we l(Kaily within the wish of St Jame4 Shirley, Southampton. 16. DONATIONS OVER£500 The following peoplelgroups wffe all(￿ted with donations in the year. Enable B CMS SCRATCH A Rocha UK Church work in Myanmar £1,000 £4.000 £3.0(K) £1,500 Money for these agencies outside the was ex)ll￿ from the congregation and thlly pid directly to them during 2024. Page 25 THE PAROCHIAL CHURCH COUNCIL OFTIIE ECcLLS￿TIcAL PARISH OF ST JAMES, SHIRLEY, SOUTHAM]ryON NOTES TO THE FINANCIAL sTATEmE￿s (CONTINUED) FOR THE YEAR ENDED 31 DECElktBER 2024 17. POST BALANCE SHEET ITEMS In the year to 31 Dccember 2022, the PCC sold the St John's Church building for a totsl of £548,148. Of this, 790/0 (£433,037) was receivable by the PCC and this was included incom¢ in the accounts for 2022. The remaining 210/0 (£115,11 l ) of the proceeds was subject to a reverter Clause back to the donor when the money was originally gifted to the PCC to buy the property. This portion remains subject to clarification and has not been tecognised as income in the Accounts. The money is held by the Diocese of Winchester.