## **The Church of** ## **St Mary Magdalen, Knighton** # _**looking back at 2024**_ _**on 11[th] May 2025**_ ## **Contents** |**Contents**|| |---|---| |Introduction – the Rev’d Adrian Jones|3.| |Our vision and our objectives|4.| |Worship and Prayer|5.| |Christian Life and Discipleship|5.| |Mission and Evangelism|6.| |Pastoral Care and Congregational Life|7.| |Our buildings: the Church and Parish Centre|8.| |Our “Fabric, Goods and Ornaments”|8.| |Relationships with other churches:|| |The City of Leicester Deanery|9.| |Across denominations|10.| |Summary Review of Finances 2024|11.| |St Mary Magdalen Management Accounts|12.| |for 2024 and budget for 2025|| |Parish Centre Management Accounts|13.| |Giving to Charities 2024|14.| |**Statutory Accounts 2024**|15.| |Financial Overview|16.| |Financial Control Policies|16.| |Risk Management|17.| |Volunteers|17.| |Structure, Governance and Management|17.| |Administrative Information|18.| |Statement of Financial Activities|19.| |Balance Sheet|20.| |Analysis of Income and Expenditure|21-22.| |Notes to the accounts|23-26.| |Independent Examiner’s Report|27.| 2 ## **Introduction** _**from the Revd Adrian Jones:**_ ## Friends , Over 2024, and the beginning of this year, the Church of England has been buffeted by serious storms – significant safeguarding issues, divisions over recognising same-sex relationships, and the resignation of the Archbishop. At the same time, more locally, our diocese continues the difficult process of managing a greatly reduced income, and critical changes to the way that we provide mission, ministry and pastoral care in every parish. In the face of these storms it would be easy to lose heart and feel despondent. It would be easy to retreat into a quiet corner and turn our faith inwards, ignoring the world outside as we protect and preserve church life as we’ve always known it. The unpredictability and strangeness of world events also pushes us towards dis-engaging and giving up. I believe that a better response, however, is to look again to God – to his character and his purposes as they’ve been revealed to us across the narrative of the Bible, and in particular in the person of Jesus himself. When we look at God instead of our own preoccupations, we are reminded of his great goodness and kindness towards us- not just in our daily lives and needs but also across the whole arc of human history. We see then that events are not out of control, but on the contrary, God picks up tragedy and strife and miraculously weaves them into his ultimate purposes for us. We are also reminded that God is faithful, consistent and committed to us all – in particular, he has a deep love for his people as we gather to share life together as the Church. Whilst human beings are frail, flawed and failing because of our weaknesses, the Church is greater than any one person or set of people. The Church remains the body of Christ on Earth, and over the centuries God has reshaped it, so that it is better able to serve others and share his love more widely in a changed society and culture. Perhaps we are at a moment where God is doing something new with the broken pieces of our world and our church. If so, then our best response is to remain faithful and attentive, responding when we hear and see how he is at work around us and within us. Our life as Anglican Christians in Knighton already shows many signs of God’s Kingdom, and we can read about some of them in our Annual Report. Let me encourage you, as we look back into 2024 but also take decisions about the years to come, to strengthen your faith in the God who is so committed to us that he gave his Son to share in the mess of the world with us, and to win for us a joy and a peace that can stand firm in the face of any changing, swirling circumstances. _“May the God of hope fill you with all joy and peace as you trust in him, so that you may overflow with hope by the power of the Holy Spirit.” (Romans 15.13)_ Yours in Christ’s service _Adrian_ 3 ## **Our vision and objectives** ## **Our vision:** (John 10.10) ## **Our mission:** St Mary’s has been greatly blessed by God over the years and our mission now is to use and share our blessings to build the Kingdom of God in this time. Together we seek to discover and share life in all its fullness – following the way of Jesus and encouraging others to follow and come to faith in him. ## **Our objectives:** - **to worship God well** - using traditional and new ways, so that everyone can encounter God and grow in faith; (John 4.23-4) - **to explore and follow the way of Jesus -** learning together from the wisdom of the Bible, Christian traditions, and our wider society, and seeking to be led by God’s Spirit. (John 15.1-17) - **to connect better with our community** – to broaden and deepen our connections with all parts of the local community and to help others in need. (Luke 10.25-37) - **to welcome everyone as equally valued -** especially those who often feel left out; (Matthew 25.31-45) - **to share our faith in Jesus with others –** encouraging them to follow and come to faith in him too. (Matthew 28.19-20) **The Parochial Church Council (PCC)** has the responsibility of working together with the ministers to promote the whole mission of the Church: pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of the Church building and the Parish Centre of St Mary Magdalen on Church Lane. The PCC is committed to our vision, mission and objectives for this next season in the life of our church. We believe this is our calling as a church and our part in helping to build the Kingdom of God in our neighbourhoods. In particular we want everyone to feel welcome and able to worship with us and to become part of our church community. Our worship and other events together put our Christian faith into practice through prayer and scripture, music and sacrament, service and loving care. 4 ## **Worship and Prayer** The heart of our life together as a church is the worship and prayer that we offer to God and the first of our five objectives for the church, within our vision of _‘Faith for Life’,_ is to **“Worship God well; using traditional and new ways, so that everyone can encounter God and grow in faith.”** Our highlights for 2024 included: - continuing partnership with St Guthlac’s – joining together for joint benefice services on the fifth Sundays, and sharing in ‘Church Club’ in Holbrook Hall for families on the fourth Sundays; - the continuing of ‘Inside Out’, taking worship and activities for children and families out of the building and into the park, on a Sunday afternoon, once a month; - the successful continuation of a weekly service of Compline (Night Prayer) on Wednesday nights, with a congregation of around twenty that joins online or by phone - special thanks go Tina Jarvis and James Gutteridge for helping Compline to flourish; - our regular Wednesday morning small group for study, prayer and friendship, continued to meet through the year at the Parish Centre, with special studies for Lent and Advent; - throughout the year, our worship followed the familiar pattern of the Church calendar, with special services for Epiphany, Mothering Sunday, Ash Wednesday, Maundy Thursday, Good Friday, Easter, Ascension and Pentecost, as well as our patronal festival in July, Creationtide, Harvest Festival and Remembrance. - Advent began with Carols around the Christmas Trees, a memorable Christingle service, a more traditional Parish Carol Service, an ‘everyone-join-in’ Crib Service, and then Christmas Midnight Communion and the usual celebration on Christmas Day itself. Our local schools returned to St Mary’s for their Christmas services and performances by over 500 children, with parents also invited. - increased use of the Nave Communion table to ensure that all service leaders, whatever their mobility needs, can preside equally. In January we said farewell to our Choir and Music Co-ordinator, Michael Relph, with many thanks for all that he had done to support and strengthen our worship in the last two years. ## **Christian Life and Discipleship** ## Our vision of _‘Faith for Life’,_ also includes the aim to “ **Explore and follow the way of Jesus - learning together from the wisdom of the Bible, Christian traditions, and our wider society, and seeking to be led by God’s Spirit.”** Highlights in 2024 included: - growth in faith through regular Sunday preaching from the lectionary readings by our Ministry Team; - the discussion groups that have been part of Compline and Wednesday mornings; - a weekly Lent Discussion group; - suggestions for Advent reading and prayer; - Creationtide Sundays following relevant themes. - contributions to the Benefice Magazine. 5 ## **Mission and Evangelism** ## Within _‘Faith for Life’_ we aim to **“Connect better with our community – to broaden and deepen our connections with all parts of the local community and to help others in need** ”. 2024 highlights included: - Our highly successful Christmas Tree Festival in December - a key way in which we connect with our neighbours. There were more than sixty trees from local groups and organisations, and we welcomed over 2,000 people during the weekend. A special ‘preview' evening was held for those who might otherwise have been reluctant to come because of crowds and health issues, and after the weekend we also hosted the youngsters from the St Mary’s Preschool and local care homes. - Fundraising through the Festival produced over £6,000, to be shared between the Laura Centre charity and our own churchyard project, ‘A Place of Peace’. Many thanks to the whole Festival Team, and to everyone who helped out over four days (and more!). - Having completed the first stage of the ‘Place of Peace’ project in the previous year we were keen to make more progress in 2024 – but held up by faculty and planning permission requirements. However. The PCC agreed a planting scheme from our Garden Designer, Tanya Willis, so we are ready to move ahead in 2025, to bring new life to the open space to the south of the church as a place of reflection and prayer for all the community. - Our connections to a wider community continued to be reflected in the generous giving of time and money by church members supporting a range of charities and aid organisations through fundraising events and collections. In total £8,282 was raised for various groups (see details following) and more was given directly, as well as ‘through the books’ of the church. Leicester South Foodbank was supported at Harvest and Christmas, and throughout the year due to the efforts of our Church Warden Sian Howard. Generous Easter Egg donations went to the Goldhill Children’s Centre, thanks to our other Warden, Beryl Bonfield. - The Parish Magazine continued to be produced and distributed bi-monthly around the parish to subscribers and the congregation, by post and email. It continued to encourage and build up the faith of many through its varied articles on Christian life and world view. We are grateful for the efforts of Editor Nigel Siesage, the contributors and the distributors, who together make this important part of our mission and care possible. Our objective to **“Share our faith in Jesus with others – encouraging them to follow and come to faith in him too”** remains a necessary and significant challenge to us. Highlights include: 6 - From ‘the pulpit’ we were encouraged to share news of seasonal and special services with friends and neighbours, and low-key social media continued to be used for publicity too; - Our Christmas card/leaflet, sent to all households in the benefice, also included an encouraging and invitational message and several fresh contacts were made as a result; - The Vicar and Curate visited three local schools regularly to lead assemblies /collective worship; - Our regular Sunday Club, for children and young people, continued meeting during the morning service on the second and third Sundays of each month using the Parish Centre as a base, which allows for more games, music, activities and a wifi connection. Numbers attending obviously vary week by week, but there were roughly eight regulars; - On the fourth Sunday of each month all families are invited to join the St Guthlac’s café-style Church Club activities. Thank you to everyone who has supported Sunday Club so faithfully; - in October, Church members ran a special event at Halloween – “Be a Hero!” - provided free story-telling, hot chocolate and biscuits to families out trick-or-treating. ## **Pastoral Care and Congregational Life** **“To welcome everyone as equally valued - especially those who often feel left out”** is the heart of our calling to support and care for each other within the fellowship of the church, but also to look outwards to our neighbours in need. - Our popular programme of social and fundraising events continued and included several Coffee Mornings, as well as a successful Lent Lunch and afternoon Christmas Tea in the Parish Centre. - The Mothers’ Union continued to meet, as a ‘Diocesan branch’, with a full programme of meetings with guest speakers, and social events – supporting members and encouraging others. - Our ‘Warm and Welcome Space’ in the Parish Centre became a ‘Drop-In’ for everyone on Monday afternoon each week - a place of friendly welcome and refreshment for anyone feeling like extra company; - Pastoral care for the whole congregation was shared by the Benefice Ministry Team: Revd Adrian Jones (Vicar), Revd Janet Gasper (retired), Revd Aphro McCullough (retired), Fiona Wingate (Reader) and the Revd Cecilia Adjadje (Curate). It was particularly good to share celebrations with Cecilia, Peter and Esther, David and Daniel in the summer when Cecilia was ordained priest. She has become a valued and important part of our team here in Knighton. - We are also very grateful to everyone in the congregation who cares for others day by day by visiting, encouragement and simple acts of kindness – which is our shared calling as the body of Christ. 7 - Sadly, a number of dear church members died during the year, and all are greatly missed for their love and friendship, and their contributions to church life and worship. ## **Our buildings: the Church and the Parish Centre** Our life together as a church at St Mary’s – our worship and prayer, our mission and evangelism, our pastoral care and our links into the local community – is supported and strengthened by the buildings that we have inherited. Through the expertise and wisdom of members of the Buildings Group, the PCC manages and cares for both St Mary Magdalen Church and its churchyard, and Knighton Parish Centre. - The regular Quinquennial Survey of both the Church and the Parish Centre took place in the autumn, and the PCC has planned the works most immediately necessary. - The Parish Centre remains the most significant way in which the Church serves the local community, by providing a well-used venue for community groups, meetings and social occasions, and in 2024 bookings of both regular activities and special events rose again. Our Caretaker and Bookings Secretary, Mark Taylor and Steph Bramford, continue to ensure that the Centre remains at the heart of community life in Knighton, and we are very grateful for all they do, with such good humour and flexibility. - The PCC began to plan for a major refurbishment and upgrade following architects advice, and in order to ensure the future of the Parish Centre in the medium term. The Quinquennial Inspection of the Centre, however, has left us with more questions that we need to answer first, so an Options Assessment of the building is required in 2025. - There are many people from the congregation and beyond who help to care for our Church building and its contents on an on-going basis: those who help to clean the church and its contents, those who wash linen, the Flower Guild, and all those who provide ‘routine care and maintenance’ and small improvements. We are extremely grateful for these essential gifts of service to us all. - From his small office space in the Parish Centre, our Church Administrator, James Gutteridge, provided essential support for the running of the church during 2024. Our sincere thanks go to him for all he does ‘behind the scenes’. ## **Our “Fabric, Goods and Ornaments”** The fabric, goods and ornaments of St Mary’s have been maintained in good order in 2024. All valuable items are accounted for and stored securely in the vestry safe. The Church Property Register (previously known as the Terrier and Inventory) provides a record of the land and articles appertaining to the Church and has been updated as required. The Log Book has been used to note alterations, additions and repairs to the fabric of the physical church building. Thanks are due as always to our sacristan, David Ardley, and to Simon Britton and Andrew Oldershaw who do much in relation to the building, and to the Church Wardens and all those who care for our ‘fabric, goods and ornaments.’ 8 ## **Relationships with other churches: The City of Leicester Deanery** St Mary’s joins with other Anglican churches as part of the City of Leicester Deanery. Each church sends elected representatives to Deanery Synod meetings and clergy gather for Chapter meetings. The **March** Deanery Synod explored 'Making Church Accessible for All'. Rachel Hunter and Yvonne O'Donoghue, both SEND teachers, shared practical examples of how churches can create welcoming environments for SEND children. Cecilia Adjadje, Curate of Knighton, shared some of her experiences of becoming a curate and the adaptations put in place to ensure that she could undertake her training and help to lead her church community. The **July** Deanery Synod invited five faith practitioners to share something of their academic research that they are currently or have recently undertaken. Riaz Ravat, Deputy Director of the St Philip's Centre, spoke about ‘Faith Mapping’ a forthcoming piece of research that he will be undertaking mapping the faith practices of the city. Phillippa Taylor shared her recent MA dissertation on 'A Theological Reflection on the Christian Experience of Miscarriage'. Denis Walsh offered reflections on his MA dissertation on ‘The Pastoral care of gay Christians in Anglican Churches’, research that was undertaken with 6 church leaders, 3 who considered themselves to be 'inclusive' and 3 who would identify themselves as 'orthodox' in terms of their LGBTQ theology. He shared with Synod the results of his research and some recommendations. Mary Ann Lund shared her academic research on ‘John Donne’, as a staff member of University of Leicester. Mary shared some aspects of Donne's poetry and verse and his impact on Theology and worship. Anthony Lees-Smith reflected on ‘A Practical Theology of Religious Difference: the lived experience of Anglican Christians in a religiously plural UK context’ the subject of his D Prof thesis. He shared his experience of the process of research, what he had learned and how it had transformed his practice as a Christian minister, particularly understanding his power and privilege as a white male priest in the established church. The **November** Deanery Synod was an Open meeting on the subject of ‘Parish Contributions and Diocesan Finances.’ Simon Wilson and David Palmer from the Diocesan Board of Finance (DBF) presented. With the aid of slides, we were able to see a decade long picture of how diocesan operating finances have mainly increased, and Parish Contributions have decreased. There are no easy solutions, and it is difficult to balance the books. Clergy costs make up 60% of the budget and St. Martin’s House costs have reduced by £1/1.5 million. Targets are a £1.5 million cut in the deficit 2024, £1 million in 2025 and £500,000 the year after. .The floor was then opened to attendee’s questions. A great deal of concern was expressed on issues raised. _**Qyan Arnachellum**_ **,** Administrator, City Deanery 9 ## **Relationships with other churches: across denominations** St Mary’s is a member of the South Leicester Christian Partnership (Churches Together). and several of our congregation take part in special events for Christian Aid Week, ‘First Friday Prayers’, the pilgrimage and service for the Week of Prayer for Christian Unity in January, the (Women’s) World Day of Prayer and other meetings through the year. We are very grateful for the significant contribution these church members make to our ecumenical links. ## **Relationships with other churches: Minster Communities** The process of drawing together to work in partnership with other parishes, the formation of ‘Minster Communities’, gathered speed in 2024. After a string of consultation meetings for PCC representatives, we ended the year with a proposal that St Mary’s might become part of the ‘Teal’ group (named after the colour used on the City map). 2025 will see further discussions about the practicalities of a working partnership – leaflets with more information are available in Church. 10 ## **ST MARY MAGDALEN REVIEW OF FINANCES – 2024** **Knighton PCC management accounts** which follow, show unrestricted income and expenditure, these provide a summary of our day to day finances. The statutory accounts show full details of our finances including all funds, assets and liabilities. - _**The deficit in church finances for 2024 was £23,871**_ - _**High energy costs continue to negatively affect our finances**_ - _**Our giving does not cover the running costs of the church**_ ## **Centre Income & Expenditure:** During 2024 lettings have increased slightly on the previous year, we have seen an increase in regular lettings and one-off hires but a slight decrease in other lettings. Centre income for 2024 of £45,095 was up £1,881 on 2023, although income has still not returned to the pre-covid level of £47,345. Energy prices have improved by £4,000 compared to 2023 which has helped to bring about a surplus for the year - see the Centre management accounts for more details. ## **Church Income & Expenditure:** **Income:** Total income has increased for the year by £4,500 this is due to an increase in regular giving along with an increase in sundry donations which includes contactless giving. **Expenditure:** Overall expenditure shows a very slight reduction mainly due to lower gas costs and the music director vacancy offset by a rise in diocese contribution and clergy expenses. ## **The PCC deficit before exceptional items was slightly better than budgeted at** **£28,004.** This was made up of a Centre surplus of £3,382 less a church operating deficit of £31,386. The addition of income from exceptional items **resulted in a total PCC deficit of £23,871** which was transferred from reserves. **Total unrestricted reserves** at 31[st] December 2024 were £199,421 **Restricted reserves** at 31[st] December 2024 were: ## • **Churchyard Fund** - £1,000 **Legacies** – No legacies were received during the year. **Charitable fund raising events** in 2024 raised funds totalling £8,282. ## **Our financial priorities for 2025 are:** - To continue to rebuild church life and income - To promote and fully review the Parish Centre - To continue to review all expenditure **Budget 2025** (part of the PCC management accounts), **Parish Centre Management Accounts,** and **Full Statutory Accounts** follow this report. 11 |**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|**St Mary Magdalen Management Accounts for 2024 and Budget for 2025**|| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||**Budget**||**Actual**||**Actual**|| |||||||||**2025**||**2024**||**2023**|| |**INCOME**||||||||**£**||**£**||**£**|| |GivingScheme||||||||55,000||52,359||50,200|| |Plate collections||||||||2,500||2,224||2,046|| |Gift aid||||||||13,000||12,150||11,356|| |**Total Regular Giving**||||||||70,500||66,733||63,603|| ||||||||||||||| |Sundrydonations including gift aid||||||||3,500||3,399||2,444|| |Events & other fund raising||||||||2,400||2,153||2,180|| |Fees||||||||4,000||3,422||4,019|| |Church hire||||||||-||550||-|| |Misc||||||||3,000||3,090||2,604|| |**Total other income**||||||||12,900||12,614||11,246|| ||||||||||||||| |**Total Church income**||||||||**83,400**||**79,347**||**74,849**|| ||||||||||||||| |**EXPENDITURE**|||||||||||||| |Contribution to Diocese||||||||66,300
-||64,715
-||60,200
-|| |clergyexes & cover costs||||||||3,000
-||3,152
-||1,717
-|| |total ministrycosts||||||||**69,300**
**-**||**67,867**
**-**||**61,917**
**-**|| |Worship& outreach costs||||||||1,700
-||1,771
-||2,464
-|| |Church runningexpenses||||||||16,680
-||18,220
-||23,568
-|| |Church routine maintenance||||||||4,185
-||3,678
-||4,233
-|| ||||||||||||||| |Administration||||||||20,050
-||19,695
-||19,227
-|| |Less -printing/magincome||||||||1,000||1,677||1,072|| |-|furloughgrant re administrator||||||||||||| |Net costs||||||||19,050
-||18,018
-||18,155
-|| |Office equipment depreciation||||||||1,180
-||1,180
-||1,180
-|| ||||||||||||||| |**Total routine church costs**||||||||**112,095**
**-**||**110,734**
**-**||**111,517**
**-**|| ||||||||||||||| |**Church operating surplus/ -deficit**||||||||**28,695**
**-**||**31,386**
**-**||**36,668**
**-**|| ||||||||||||||| |Centre routine surplus/ -deficit after deprn||||||||3,855||3,382||2,770
-|| |**Surplus/-deficit before exceptional items**||||||||**24,840**
**-**||**28,004**
**-**||**39,437**
**-**|| ||||||||||||||| |**Exceptional items**|||||||||||||| |Interest/dividends from reserves||||||||4,000||6,281||7,029|| |Major maintenance - Church||||||||10,000
-||2,577
-||-|| |Major maintenance - Centre||||||||||||-|| |Legacies|||||||||||||| |Listed Places of WorshipGrant||||||||||429||1,367|| |||||||||6,000
-||4,133||8,396|| ||||||||||||||| |**Total PCC surplus/-deficit to reserves**||||||||**30,840**
**-**||**23,871**
**-**||**31,041**
**-**|| ||||||||||||||| |Legacies received and designated||||||||||||14,000|| 12 **----- Start of picture text -----**
Knighton PCC Parish Centre Accounts
Budget Actual Actual
2025 2024 2023
INCOME
Hires 47,000 45,095 43,214
Total Lettings 47,000 45,095 43,214
EXPENDITURE
Cleaning - 9,450 - 9,261 - 8,865
Caretaking - 8,550 - 8,200 - 7,850
Repairs - 700 - 425 - 537
Lettings management - 6,600 - 6,355 - 6,097
Employer costs (NI/Pension employer) - 2,300 - 1,958 - 1,801
Total pay & employer costs - 27,600 - 26,199 - 25,149
Gas - 5,000 - 5,541 - 9,098
Electricity - 3,000 - 3,105 - 3,850
Water - 1,000 - 871 - 1,389
Insurance - 1,700 - 1,614 - 1,513
licences - 155 - 148 - 135
Routine maintenance - 3,000 - 2,721 - 3,393
Total routine centre costs - 13,855 - 14,000 - 19,377
Other costs
Cleaning mats,towels etc - 1,500 - 1,444 - 1,375
Telephone - 270 - 260 - 243
Sundries - 200 - -
Total other costs - 1,970 - 1,704 - 1,618
Recharge Other costs to St Guthlac's - letting ratio 34% 670 579 550
Total net other costs - 1,300 - 1,125 - 1,068
Total revenue expenditure - 42,755 - 41,323 - 45,594
Routine operating surplus/-deficit 4,245 3,772 - 2,380
Major maintenance- over £1000 - - -
Operating surplus/-deficit excl depreciation/interest 4,245 3,772 - 2,380
Depreciation over 10 years - 390 - 390 - 390
Total surplus/-deficit 3,855 3,382 - 2,770
**----- End of picture text -----**
13 |**Giving to Charities through Fundraising and Appeals 2024**|**Giving to Charities through Fundraising and Appeals 2024**|**Giving to Charities through Fundraising and Appeals 2024**|**Giving to Charities through Fundraising and Appeals 2024**|**Giving to Charities through Fundraising and Appeals 2024**|**Giving to Charities through Fundraising and Appeals 2024**|**Giving to Charities through Fundraising and Appeals 2024**|||| |---|---|---|---|---|---|---|---|---|---| ||||||||||| ||||||||||| |||||||**2024**||**2023**|| |||||||**£**||**£**|| |**Collections:**|||||||||| ||||||||||| |Christian Aid Christmas Appeal|||||plus online|73||online|| |Christian Aid Week||||||744||645|| |One Roof Leicester||||||||100|| |British Red Cross Morocco Earthquake Appeal||||||||403|| |British Red Cross Turkey/Syria Earthquake||||||||513|| |Grifaid(Water Aid)||||||130||154|| ||||||||||| |**Other activities supporting charities in theyear:**|||||||||| ||||||||||| |Lent Lunch - Goldhill food bank 2024(Ripple Effect 2023)||||||325||250|| |Harvest Appeal - Ripple Effect 2024 & 2023||||||186||88|| |Fairtrade Fortnight(includingJust Shopsales)||||||288||360|| |Royal British Legion - PoppyAppeal||||||299||373|| |Christmas Tree Festival - Laura Centre 2024(Wishes4Kids 2023)||||||3,280||2,650|| |Josh SmalleyEvent - Wishes4Kids||||||493|||| |The Children's Society (Christingle Service)||||||103||275|| |Marie Curie Lunch||||||1,002||1,927|| |Marie Curie Daffodil Appeal||||||104|||| |Leics Historic Churches - Ride and Stride||||||292||295|| |CharityDinner - The Samaritans||||||563||575|| |Overdale School Stall||||||||50|| |Run the Wall - The Amos Trust||||||400|||| ||||||||||| |**Total charity giving and fund raising**||||||**8,282**||**8,658**|| ||||||||||| ||||||||||| |Duringtheyear we also supported the South Leicester Foodbank|||||||||| |and Goldhill Food Bank including118 Easter eggs|||||||||| ||||||||||| |NB: These charitycollections are onlythose organised bythe Church or byothers on|||||||||| |Church or Centrepremises and includegift aid where appropriate.|||||||||| ||||||||||| ||||||||||| 14 ## **The Church of St Mary Magdalen, Knighton** _**on 11[th] May 2025**_ 15 ## **Statutory Accounts 2024** ## **Financial review** ## **Comments on the Statement of Financial Activities and analysis of income & expenditure** We have encountered another difficult year in our church finances. Expenditure continues to exceed income leading to an erosion of our reserves annually. ## **Total income and endowments 2024** **Total income in the year** was £143,300 which was £4,568 lower than in 2023, although donations increased no legacies were received during the year. **Total donations and legacies** at £81,404 were £7,163 lower than 2023 due to: - £14,000 decrease in legacies - £ 1,000 increase in grants, and - £ 4,000 increase in giving including gift aid - £ 1,800 increase in Friends of St Mary’s income **Total income from fees** was £625 lower in the year at £3,422 **Total other trading activities** was £3,881 higher than 2023 at £52,950. This is mostly explained by an increase in Centre lettings of £1,881 and small increases in social events, church letting, miscellaneous income and printing recharges. ## **Total expenditure 2024** **Total expenditure in the year** was £186,151 which was £15,972 higher than 2023 This is mainly attributed to - £ 4,500 increase to the Diocese contribution - £26,413 increase in major maintenance (sound system) - Offset by: - £ 1,553 decrease in charitable giving (CTF two years paid in 2023) - £ 4,600 decrease in musician fees due to music director vacancy - £ 5,720 decrease in centre costs mainly due to energy reductions - £ 5,010 decrease in churchyard major maintenance ## **Net income /(expenditure) for 2024 was (£42,379)** **Gains/losses on investment assets** – Gains on investments total £3,651. ## **Financial control policies** Management accounts and budgets are produced during the year to manage and control finances. All Groups/committees have clear guidance on their delegated authority and when they must refer to the Standing Committee or PCC for approval. The Building Group, who are responsible for maintenance of all buildings and the churchyard, have authority to spend up to £2,000 on individual items of major maintenance or capital above which they are required to obtain approval of the Standing Committee or PCC. 16 ## **Risk management** The PCC manages risk through a number of mechanisms including the following specific policies and practices: - Children and vulnerable adults – adoption and annual review of diocesan templates. - • Charitable giving policy. - Health and safety – a H&S policy, including fire risk assessment, routine inspection and testing of high-risk items, monthly safety inspections of Church and Parish Centre and appointment of a Church Architect. - Decision making – clearly defined committees/groups for management and delegation. - Parish Centre and Church hire policies. - Finance – clear control policies with regular review of management accounts, budgets and investments. ## **Volunteers** Thanks are due to all volunteers who work so hard to make our church the lively and vibrant community it is. ## **Structure, governance and management** The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure and is a Registered Charity. The method of appointment of PCC members is set out in the Church Representation Rules. At St Mary Magdalen, the membership of the PCC consists of the incumbent (the vicar), churchwardens, the assistant curate, representatives on the Deanery and Diocesan Synods and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how funds of the PCC are to be spent. New members receive training into the workings of the PCC. Given its wide responsibilities, the PCC has a number of committees and groups, each dealing with a particular aspect of parish life. These committees and groups, which include Social & fundraising, Giving, Worship & Outreach Development and Buildings, in addition to the statutory Standing Committee, are all responsible to the PCC and report back to it regularly, minutes of their decisions being received by the full PCC and discussed as necessary. Detailed terms of reference and a scheme of delegation have been operating during the year. Report approved by the PCC on 6[th] March 2025 and signed on their behalf by the Revd Adrian Jones (PCC Chairperson) 17 ## **Administrative Information** St Mary Magdalen's Church is situated in Brinsmead Road, Knighton, Leicester LE2 3WD. With the Parish of St Guthlac’s, it comprises the Benefice of Knighton in the Diocese of Leicester, within the Church of England. The correspondence address is The Parish Office, Knighton Parish Centre, Church Lane, Knighton, Leicester LE2 3WG. Registered charity number 1130923. PCC members who served from the APCM 2024 are: ## **Ex Officio members:** Incumbent: The Revd Adrian Jones (Chair) Assistant The Revd Cecilia Adjadje (from July 2023) Curate: Wardens: Mrs Beryl Bonfield Ms Sian Howard (Vice Chair) **Elected members:** Mr Michael representative on Deanery (until APCM 2025) Gasper Synod Mrs Beryl Bonfield representative on Deanery (until APCM 2025) Synod vacancy Ms Kate Adams (until APCM 2025) Mrs Amanda Beck (until APCM 2026) Mrs Tabitha Fogg (until APCM 2026) Mr David Palmer (until APCM 2026) Mr Nigel Siesage (until APCM 2025) Mrs Ida Stanyer (until APCM 2027) Vacancy x2 18 ## **Knighton PCC** ## **Statement of Financial Activities** ## **For the period from 01 January 2024 to 31 December 2024** ||**Unrestricted**|**Designated**|**Restricted**|**Endowment**|**Total**|**Prior year**| |---|---|---|---|---|---|---| ||**funds**|**funds**
|**funds**|**funds**|**funds**|**total funds**| |**_Income and endowments from:_**||||||| |Donations and legacies|70,561|10,842|—|—|81,404|88,567| |Income from charitable activities|3,422|—|—|—|3,422|4,047| |Other trading activities|52,950|—|—|—|52,950|49,069| |Investments|6,280|242|—|—|6,523|7,184| |**Total income and endowments from:**|**133,215**|**11,085**|**—**|**—**|**144,300**|**148,868**| |**_Expenditure on:_**||||||| |Raising funds|478|49|—|—|528|197| |Expenditure on charitable activities|156,608|29,543|—|—|186,151|170,179| |**Total expenditure on:**|**157,086**|**29,593**|**—**|**—**|**186,679**|**170,376**| |**Net income / (expenditure)**|**(23,871)**|**(18,508)**|**—**|**—**|**(42,379)**|**(21,508)**| |||||||| |**_Transfers_**||||||| |Gross transfers between funds – in|—|7,232|—|—|7,232|5,246| |Gross transfers between funds – out|(1,016)|(6,215)|—|—|(7,232)|(5,246)| |**Net income / (expenditure)**|**(24,888)**|**(17,491)**|**—**|**—**|**(42,379)**|**(21,508)**| |**_Other recognised gains / losses_**||||||| |Gains / losses on investment assets|3,650|—|—|—|3,650|8,973| |**Net movement in funds**|**(21,237)**|**(17,491)**|**—**|**—**|**(38,729)**|**(12,534)**| |**_Reconciliation of funds_**||||||| |**Total funds brought forward**|**689,710**|**98,184**|**1,000**|**—**|**788,894**|**801,429**| |**Total funds carried forward**|**668,472**|**80,692**|**1,000**|**—**|**750,165**|**788,894**| |||||||| |**_Represented by_**||||||| |Unrestricted||||||| |General fund|668,472|—|—|—|668,472|689,710| |Designated||||||| |Choir Fund|—|200|—|—|200|200| |Christmas Tree Festival|—|3,194|—|—|3,194|—| |Designated Fund|—|10,215|—|—|10,215|4,000| |Flower Guild|—|217|—|—|217|217| |Friends of St Mary Magdalen|—|40,160|—|—|40,160|39,432| |Music and Worship Fund|—|2,213|—|—|2,213|2,213| |Parish Centre Fund|—|24,490|—|—|24,490|24,490| |Sound System Fund|—|—|—|—|—|27,628| |Restricted||||||| |Churchyard Fund|—|—|1,000|—|1,000|1,000| 19 ## **Knighton PCC Balance sheet (Summary) As at: 31 December 2024** |**Fixed assets**
Tangible assets
**Current assets**
Debtors
Investments
Cash at bank and in hand
**Liabilities**
Creditors: Amounts falling due in one year
**Net current assets less current liabilities**
**Total assets less current liabilities**
**Total net assets less liabilities**
**Represented by**
**Unrestricted**
Unrestricted - General fund
**Designated**
Designated - Christmas Tree Festival
Designated - Parish Centre Fund
Designated - Choir Fund
Designated - Designated Fund
Designated - Flower Guild
Designated - Friends of St Mary Magdalen
Designated - Music and Worship Fund
Designated - Sound System Fund
Designated - Spire Fund
**Restricted**
Restricted - Building Appeal Fund
Restricted - Churchyard Fund
Restricted - Fabric Fund
Restricted - Restricted
Restricted - Vestments and altar covers
Restricted - Spire Fund
Restricted - Education & Training Fund
Restricted - Agency collection
**Funds of the church**|549,788
549,788
8,139
84,734
108,818
201,692
1,315
**200,376**
**750,165**
**750,165**
668,472
3,194
24,490
200
10,215
217
40,160
2,213
—
—
—
1,000
—
—
—
—
—
—
**750,165**|551,358
551,358
9,237
81,083
148,972
239,294
1,758| |---|---|---| |||**237,535**| |||| |||**788,894**| |||| |||**788,894**| |||689,710
—
24,490
200
4,000
217
39,432
2,213
27,628
—
—
1,000
—
—
—
—
—
—| |||**788,894**| 20 ## **Knighton PCC** ## **Analysis of income and expenditure Selected period: 01 January 2024 to 31 December 2024** |**Total**
**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**Income and endowments**
**_Donations and legacies_**
0101 - Giving gift-aided - bank
33,548
—
—
—
33,548
30,372
0105 - Giving gift aided - cheques
2,500
—
—
—
2,500
3,628
0110 - Giving gift-aided - envelopes
7,162
—
—
—
7,162
5,925
0115 - Contactless - donations
2,479
—
—
—
2,479
1,228
0116 - Friends of Knighton Church
—
7,501
—
—
7,501
5,637
0201 - Giving - not gift aided
9,148
—
—
—
9,148
10,351
0301 - Loose plate collections
2,224
—
—
—
2,224
2,046
0550 - Donations appeals etc
920
—
—
—
920
1,215
0601 - Tax recovered-gift aided giving
10,874
—
—
—
10,874
10,196
0603 - Tax recovered-small dons. sch.
1,275
—
—
—
1,275
1,159
0701 - Legacies
—
—
—
—
—
14,000
08A1 - Non-recurring one-off grants
429
3,340
—
—
3,769
2,807
**_Donations and legacies Totals_**
70,561
10,842
—
—
81,404
88,567
**_Income from charitable activities_**
1101 - Fees - weddings and funerals
3,422
—
—
—
3,422
4,047
**_Income from charitable activities_**
3,422
—
—
—
3,422
4,047
**_Totals_**
**_Other trading activities_**
0910 - Social & fund raising events
2,538
—
—
—
2,538
2,179
0912 - miscellaneous income
3,089
—
—
—
3,089
2,603
1240 - Centre lettings
45,095
—
—
—
45,095
43,214
1241 - Church lettings
550
—
—
—
550
—
1260 - Parish magazine sales
180
—
—
—
180
235
1261 - Printing re-charges
1,496
—
—
—
1,496
836
**_Other trading activities Totals_**
52,950
—
—
—
52,950
49,069
**_Investments_**
1001 - Dividends
2,137
—
—
—
2,137
2,099
1020 - Bank & building soc. interest
4,143
242
—
—
4,386
5,084
**_Investments Totals_**
6,280
242
—
—
6,523
7,184
**Income and endowments**
133,215
11,085
—
—
144,300
148,868
**Grand totals**
**Expenditure**
**_Raising funds_**
1720 - Costs of Giving Scheme
92
—
—
—
92
197
1730 - Costs of social & fund raising
385
49
—
—
435
—
events
**_Raising funds Totals_**
478
49
—
—
528
197|**Total**
**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**Income and endowments**
**_Donations and legacies_**
0101 - Giving gift-aided - bank
33,548
—
—
—
33,548
30,372
0105 - Giving gift aided - cheques
2,500
—
—
—
2,500
3,628
0110 - Giving gift-aided - envelopes
7,162
—
—
—
7,162
5,925
0115 - Contactless - donations
2,479
—
—
—
2,479
1,228
0116 - Friends of Knighton Church
—
7,501
—
—
7,501
5,637
0201 - Giving - not gift aided
9,148
—
—
—
9,148
10,351
0301 - Loose plate collections
2,224
—
—
—
2,224
2,046
0550 - Donations appeals etc
920
—
—
—
920
1,215
0601 - Tax recovered-gift aided giving
10,874
—
—
—
10,874
10,196
0603 - Tax recovered-small dons. sch.
1,275
—
—
—
1,275
1,159
0701 - Legacies
—
—
—
—
—
14,000
08A1 - Non-recurring one-off grants
429
3,340
—
—
3,769
2,807
**_Donations and legacies Totals_**
70,561
10,842
—
—
81,404
88,567
**_Income from charitable activities_**
1101 - Fees - weddings and funerals
3,422
—
—
—
3,422
4,047
**_Income from charitable activities_**
3,422
—
—
—
3,422
4,047
**_Totals_**
**_Other trading activities_**
0910 - Social & fund raising events
2,538
—
—
—
2,538
2,179
0912 - miscellaneous income
3,089
—
—
—
3,089
2,603
1240 - Centre lettings
45,095
—
—
—
45,095
43,214
1241 - Church lettings
550
—
—
—
550
—
1260 - Parish magazine sales
180
—
—
—
180
235
1261 - Printing re-charges
1,496
—
—
—
1,496
836
**_Other trading activities Totals_**
52,950
—
—
—
52,950
49,069
**_Investments_**
1001 - Dividends
2,137
—
—
—
2,137
2,099
1020 - Bank & building soc. interest
4,143
242
—
—
4,386
5,084
**_Investments Totals_**
6,280
242
—
—
6,523
7,184
**Income and endowments**
133,215
11,085
—
—
144,300
148,868
**Grand totals**
**Expenditure**
**_Raising funds_**
1720 - Costs of Giving Scheme
92
—
—
—
92
197
1730 - Costs of social & fund raising
385
49
—
—
435
—
events
**_Raising funds Totals_**
478
49
—
—
528
197|**Total**
**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**Income and endowments**
**_Donations and legacies_**
0101 - Giving gift-aided - bank
33,548
—
—
—
33,548
30,372
0105 - Giving gift aided - cheques
2,500
—
—
—
2,500
3,628
0110 - Giving gift-aided - envelopes
7,162
—
—
—
7,162
5,925
0115 - Contactless - donations
2,479
—
—
—
2,479
1,228
0116 - Friends of Knighton Church
—
7,501
—
—
7,501
5,637
0201 - Giving - not gift aided
9,148
—
—
—
9,148
10,351
0301 - Loose plate collections
2,224
—
—
—
2,224
2,046
0550 - Donations appeals etc
920
—
—
—
920
1,215
0601 - Tax recovered-gift aided giving
10,874
—
—
—
10,874
10,196
0603 - Tax recovered-small dons. sch.
1,275
—
—
—
1,275
1,159
0701 - Legacies
—
—
—
—
—
14,000
08A1 - Non-recurring one-off grants
429
3,340
—
—
3,769
2,807
**_Donations and legacies Totals_**
70,561
10,842
—
—
81,404
88,567
**_Income from charitable activities_**
1101 - Fees - weddings and funerals
3,422
—
—
—
3,422
4,047
**_Income from charitable activities_**
3,422
—
—
—
3,422
4,047
**_Totals_**
**_Other trading activities_**
0910 - Social & fund raising events
2,538
—
—
—
2,538
2,179
0912 - miscellaneous income
3,089
—
—
—
3,089
2,603
1240 - Centre lettings
45,095
—
—
—
45,095
43,214
1241 - Church lettings
550
—
—
—
550
—
1260 - Parish magazine sales
180
—
—
—
180
235
1261 - Printing re-charges
1,496
—
—
—
1,496
836
**_Other trading activities Totals_**
52,950
—
—
—
52,950
49,069
**_Investments_**
1001 - Dividends
2,137
—
—
—
2,137
2,099
1020 - Bank & building soc. interest
4,143
242
—
—
4,386
5,084
**_Investments Totals_**
6,280
242
—
—
6,523
7,184
**Income and endowments**
133,215
11,085
—
—
144,300
148,868
**Grand totals**
**Expenditure**
**_Raising funds_**
1720 - Costs of Giving Scheme
92
—
—
—
92
197
1730 - Costs of social & fund raising
385
49
—
—
435
—
events
**_Raising funds Totals_**
478
49
—
—
528
197| |---|---|---| |||52,950
—
—
—
52,950
49,069
2,137
—
—
—
2,137
2,099
4,143
242
—
—
4,386
5,084
6,280
242
—
—
6,523
7,184| |||133,215
11,085
—
—
144,300
148,868| ||**Expenditure**
**_Raising funds_**
1720 - Costs of Giving Scheme
1730 - Costs of social & fund raising
events
**_Raising funds Totals_**|92
—
—
—
92
197
385
49
—
—
435
—| |||478
49
—
—
528
197| 21 |||||||**Total**|| |---|---|---|---|---|---|---|---| ||**Unrestricted**|**Designated**|**Restricted**|**Endowment**|**This year**||**Last year**| |**_Expenditure on charitable activities_**|||||||| |1871 - Charitable giving|—|3,774|—|—|3,774||5,327| |1910 - Contribution to Diocese|64,715|—|—|—|64,715||60,200| |2050 - Salary of parish administrator|13,762|—|—|—|13,762||13,160| |2060 - Muscian fees|1,663|—|—|—|1,663||6,307| |2101 - Expenses of incumbent|848|—|—|—|848||1,197| |2102 - Curate's expenses|2,304|—|—|—|2,304||520| |2201 - Mission outreach|1,771|1,932|—|—|3,703||3,836| |2301 - Church insurances|5,388|—|—|—|5,388||5,065| |2330 - Church routine maintenance|1,634|—|—|—|1,634||2,529| |2331 - Church cleaning|1,835|—|—|—|1,835||1,542| |2340 - Sacristry costs|634|—|—|—|634||343| |2341 - Other music costs|992|—|—|—|992||1,188| |2350 - Churchyard maintenance|2,043|—|—|—|2,043||1,703| |2360 - Administration costs|5,839|—|—|—|5,839||5,870| |2401 - Church electricity|2,094|—|—|—|2,094||2,064| |2410 - Church gas|5,403|—|—|—|5,403||6,968| |2420 - Church water|207|—|—|—|207||180| |2520 - Centre wages|26,198|—|—|—|26,198||25,149| |2530 - Centre electricity|3,104|—|—|—|3,104||3,849| |2540 - Centre gas|5,541|—|—|—|5,541||9,097| |2550 - Centre insurance|1,613|—|—|—|1,613||1,512| |2560 - Centre routine maintenance|2,721|—|—|—|2,721||3,392| |2570 - Centre licences|147|—|—|—|147||134| |2580 - Centre water|871|—|—|—|871||1,388| |2590 - Centre other costs|1,124|—|—|—|1,124||1,067| |2701 - Church major maintenance|2,577|23,836|—|—|26,413||—| |2702 - Churchyard major maintenance|—|—|—|—|—||5,010| |3000 - Depreciation - Church & office|1,180|—|—|—|1,180||1,180| |3001 - Depreciation - Centre|390|—|—|—|390||390| |**_Expenditure on charitable_**|156,608|29,543|—|—|186,151||170,179| |**_activities Totals_**|||||||| |**Expenditure Grand totals**|157,086|29,593|—|—|186,679||170,376| 22 **THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FORM PART OF THE ACCOUNTS** ## **1 Detailed Schedule of ASSETS AND LIABILITIES** |||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |**FIXED ASSETS**||||||||||||| |||||||||||||| |**TANGIBLE ASSETS**|||||**Freehold land and buildings**|||||**Other**|**Total**|| |||||||**1**|**2**|||**3**||| |**GROSS BOOK VALUE**At 31 December 2023||||||£316,152|£231,424|||£43,500|£591,076|| |||Additions||||£0||£0||£0||£0| |||Disposals||||£0||£0||£0||£0| |||At 31 December 2024||||£316,152|£231,424|||£43,500|£591,076|| |**DEPRECIATION**||At 31 December 2023||||£0||£0||£39,717|£39,717|| |||Disposals||||£0||£0||£0||£0| |||Charge foryear||||£0||£0||£1,570|£1,570|| |||At 31 December 2024||||£0||£0||£41,287|£41,287|| |||||||||||||| |**NET BOOK VALUE**||**At 31 December 2024**||||**£316,152**|**£231,424**|||**£2,213**|**£549,789**|| |||||||||||||| ||_1 _|_Parish Centre, Brinsmead Road_|||_3 _|_Fixtures and fittings in the Centre_||||_and office_||| ||_2 _|_Holbrook_|_Hall, Holbrook Road_|||||||||| |||||||||||||| _**The gross book value of the land and buildings** included in the accounts is as estimated for insurance purposes at 1 October 1998 . The estimated insurance valuations at 28/09/24 are: Centre - £994k; Holbrook Hall - £608k_ |**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**|**THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**FORM PART OF THE ACCOUNTS**||||||||||||||||| |||||||||||||||||| |**1 Detailed Schedule of ASSETS AND LIABILITIES**||||||||||||||||| |||||||||||||||||| |**FIXED ASSETS**||||||||||||||||| |||||||||||||||||| |**TANGIBLE ASSETS**||**Freehold land and buildings**|||||||||**Other**||||**Total**|| |||||||**1**|||**2**||||**3**|||| |**GROSS BOOK VALUE**|At 31 December 2023|||||£316,152|||£231,424||||£43,500||£591,076|| ||Additions|||||£0|||£0||||£0||£0|| ||Disposals|||||£0|||£0||||£0||£0|| ||At 31 December 2024|||||£316,152|||£231,424||||£43,500||£591,076|| |**DEPRECIATION**|At 31 December 2023|||||£0|||£0||||£39,717||£39,717|| ||Disposals|||||£0|||£0||||£0||£0|| ||Charge foryear|||||£0|||£0||||£1,570||£1,570|| ||At 31 December 2024|||||£0|||£0||||£41,287||£41,287|| |||||||||||||||||| |**NET BOOK VALUE**|**At 31 December 2024**|||||**£316,152**|||**£231,424**||||**£2,213**||**£549,789**|| |||||||||||||||||| |_1 _|_Parish Centre, Brinsmead Road_|||_3 _|_Fixtures and fittings in the Centre and office_|||||||||||| |_2 _|_Holbrook Hall, Holbrook Road_|||||||||||||||| |||||||||||||||||| |**_Thegross book value of the land and buildings_**_included in the accounts is as estimated for insurancepurposes at 1 October 1998 ._||||||||||||||||| |_The estimated insurance valuations at 28/09/24 are: Centre - £994k; Holbrook Hall - £608k_||||||||||||||||| |||||||||||||||||| |**CURRENT ASSETS**||||||||||||||||| ||||||||||||||**2024**|**2023**||| ||||||**Unrestricted**|||**Restricted**|||||**Total**|**Total**||| |**DEBTORS**||||||||||||||||| |Interest /dividend accrued|||||||£0|||£0|||£0|£0||| |Prepayment|||||||£594|||£0|||£594
£580|||| |Sundries|||||||£5,013|||£0|||£5,013|£5,796||| |Gift Aid due|||||||£2,532|||£0|||£2,532|£2,860||| |**Total debtors**|||||||**£8,139**|||**£0**|||**£8,139**|**£9,236**||| |||||||||||||||||| |**INVESTMENTS**|||**Use**|||||||||||||| |||||||||||||||||| |CCLA Church of England Investment fund- units 1487|||General reserve||||£36,706||||||£36,706|£35,884||| |CCLA Church of EnglandGlobal Investment fund- units 1493|||General reserve||||£48,028||||||£48,028|£45,199||| |**Total investments**|||||||**£84,734**||||||**£84,734**|**£81,083**||| |||||||||||||||||| |**CASH AT BANK AND IN HAND**||||||||||||||||| |**Account**||||||||||||||||| |CCLA C of E Deposit|||General Reserve||||£58,091||||||£58,091|£108,090||| |CCLA C of E Deposit|||Specificgrave maintenance|||||||£1,000|||£1,000|£1,000||| |CCLA C of E Deposit||closed|Fabric Fund|||||||£0|||£0|£0||| |CCLA C of E Deposit||closed|Buildings Appeal|||||||£0|||£0|£0||| |Nat West current account|||Social Groupbank account||||£604||||||£604|£485||| |Lloyds current account|||Centre bank &pettycash||||£20,761|||£0|||£20,761|£14,501||| |**Total short term deposits**|||||||**£79,456**|||**£1,000**|||**£80,456**|**£124,076**||| |||||||||||||||||| |Barclays deposit account|||Main bank account||||£8,616|||£0|||£8,616|£8,256||| |Barclays deposit account|||Friends of St Mary's account||||£19,355|||£0|||£19,355|£15,432||| |Barclays current account|||Fees Account||||£391|||£0|||£391|||£1,206| ||||||||**£28,362**|||**£0**|||**£28,362**|**£24,894**||| |||||||||||||||||| |||||||||||||||||| |**Total cash at bank and in hand**||||||**£107,818**||||**£1,000**||**£108,818**||**£148,970**||| |||||||||||||||||| |**TOTAL CURRENT ASSETS**||||||**£200,691**||||**£1,000**||**£201,691**||**£239,289**||| |||||||||||||||||| |||||||||||||||||| |**LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||||||||||||| |||||||||||||||||| |**Sundry creditors**||||||**£611**||||**£0**||**£611**||**£552**||| |**Agency Collections**||||||**£704**||||**£0**||**£704**||**£1,206**||| |||||||||||||||||| |**NET CURRENT ASSETS**||||||**£199,376**||||**£1,000**||**£200,376**||**£237,531**||| |||||||||||||||||| |||||||||||||||||| |**ANALYSIS OF NET ASSETS BY FUND**||||||||||||**2024**||**2023**||| ||||||**Unrestricted**|||**Restricted**||||**Total**||**Total**||| |Tangible fixed assets|||2|3||£549,789||||£0||£549,789||£551,358||| |Current assets||||||£200,691||||£1,000||£201,691||£239,289||| |Current liabilities|||||||-£1,315|||£0|||-£1,315|-£1,758||| |**Fund balance**||||||**£749,165**||||**£1,000**||**£750,165**||**£788,889**||| |||||||||||||||||| |||||||||||||||||| **THESE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FORM PART OF THE ACCOUNTS continued** ## **1 Assets and Liabilities** See detailed schedule ## **2 Accounting policies Basis of the financial statements** The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with applicable accounting standards and the current Statement of Recommended Practice Accounting and Reporting by Charities and applicable accounting standard FRS 102. The financial statements have been prepared under the historical cost convention except for investment assets, 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 accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. ## **Fund accounting** _Endowment funds_ are funds, the capital of which must be retained either permanently or at the PCC's discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. _Restricted funds_ comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific PCC activity intended by the donor. Where these funds have unspent balances, interest or dividends on their pooled investment is apportioned to the individual funds on an average balance basis. _Unrestricted funds_ are income funds which are to be spent on the PCC's general purposes. _Designated funds_ are general funds set aside by the PCC for use in the future _._ Project funds are designated for particular projects for administration purposes only. Funds designated as invested in fixed assets for the PCC's own use abated in line with assets' annual depreciation charges in the SOFA. Designated funds remain unrestricted and the PCC will move any surplus to other general funds. ## **Income and resources** Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate are received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain and the amounts due are reliably quantifiable. Dividends are accounted for when declared receivable, interest as and when accrued by the payer. All incoming resources are accounted for gross. ## **Resources expended** Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The PCC agreed contribution to the Diocese is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for gross. 24 ## **Fixed assets** Consecrated and benefice property is not included in the accounts in accordance with s10 (2) (a) and (c) of the Charities Act 2011. Movable 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 are listed in the church's inventory, which can be inspected (at any reasonable time). These assets should be capitalised as fixtures, fittings and equipment and depreciated. For anything acquired prior to 2002, there is insufficient cost information available and therefore such assets are not valued in the financial statements. Individual assets with a cost of less than £1,000 are not capitalised and are included as expenditure not in the balance sheet. Fixtures, fittings and equipment assets within Church and Centre premises are depreciated on a straight line basis over 10 years. Office equipment is depreciated over 5 years. **3 Staff costs 2024 2023** Office £13,762 £13,161 Parish Centre £26,198 £25,149 The above costs relate to a part-time administrator employed in St Mary’s Office and the share of a part-time letting secretary and caretaker/cleaner employed in the Parish Centre. The Centre staff also provide a similar service to St Guthlac PCC for Holbrook Hall and their related costs have been recharged to St Guthlac PCC. ## **4 Payments to PCC members** No payments or expenses were paid to any PCC member or persons closely connected to them or related parties. ## **5 Investments** The agreed policy of the PCC is to maintain a balance between cash and investments, maximise income while not taking undue risks and to invest in ethical investments by using CCLA investments which are managed and operate under the Church of England ethical investment policy. Investments are valued at market value at 31st December and gains and losses are realised when investments are sold.There were no sales or purchases in the year.The existing holdings increased in value in the year by £3,651. **6 Restricted funds** These Fund accounts are retained for future use. **Churchyard maintenance fund** There was no movement during the year. Note: Donations are now only accepted for unrestricted general churchyard maintenance and no longer for individual grave maintenance. This can be done by donating to the the Friends of St Mary Magdalen. **Education & Training, Building appeal, Fabric,Vestments & Alter cover funds** These have nil balances. ## **7 Designated funds** Designated funds are unrestricted funds set aside by the PCC for use in the future for specific purposes. In line with the PCC legacy policy, legacies received were designated to funds which the PCC felt appropriate to the benefactors. 25 ## **7 (i) Analysis of designated income and expenditure in the year** The Christmas Tree Festival is organised by the Friends of St Mary Magdalen and was again very successful and generated a net surplus of £6,559 which has been shared equally between the Laura Centre charity and the Friends fund. ## **Friends of St Mary Magdalen Fund** |Balance as at 01/01/2024
**Income**
Christmas Tree Festival
Josh Smalley Event
Interest received
Non-recurring one of grants - Ward fund grant re CTF
_Total Income_
**Expenditure**
Charitable Giving - Donation to The Laura Centre CTF 2024
Charitable Giving - Donation to Wishes4Kids - Josh Smalley Event
Mission Outreach - Christmas Tree Festival costs
Fund Raising - Josh Smalley event costs
_Less Total Expenditure_
Contactless CTF receipts transferred from General fund
Closing Balance 31/12/2024 Including CTF funds
**Other funds**
**Income**
Non-recurring one of grants - Benefact Trust grant - Sound System
Total Income Designated funds
**Expenditure**
Sound System Fund - Sound system and desk costs
Total Expenditure Designated funds|**£39,432**
£6,463
£1,039
£242
£1,591
_£9,335_
(£3,280)
(£494)
(£1,932)
(£50)
_(£5,756)_
£343
**£43,354**

£1,750
**£11,085**
(£23,837)
**(£29,593)**|**£39,432**
£6,463
£1,039
£242
£1,591
_£9,335_
(£3,280)
(£494)
(£1,932)
(£50)
_(£5,756)_
£343
**£43,354**

£1,750
**£11,085**
(£23,837)
**(£29,593)**|**£39,432**
£6,463
£1,039
£242
£1,591
_£9,335_
(£3,280)
(£494)
(£1,932)
(£50)
_(£5,756)_
£343
**£43,354**

£1,750
**£11,085**
(£23,837)
**(£29,593)**| |---|---|---|---| ||
|


|


| |||


|| The balance of the Sound System fund £6,215 was transferred to Designated fund. ## **8 Unrestricted reserves** The reviewed and revised PCC unrestricted reserves policy at 31/12/24 is as follows: 1) To hold an operational reserve equal to working capital plus 2 months of routine operating costs and employee notice periods. £50,000 for maintenance of the Church and Parish Centre. As all major building maintenance projects are authorised by the PCC from total reserves, only a reasonable level of funds will be held in the Centre bank account as working capital, with excess transferred to PCC main bank account enabling efficient investment. 3) To review the policy and the level of reserves annually. At 31/12/24, the total unrestricted reserves required in accordance with the policy is £104,200. Actual total unrestricted reserves (general and designated) at 31/12/24 totalled £199,376. Use of unrestricted reserves Over the last few years, church expenses have exceeded income and our unrestricted reserves are reducing each year. The PCC continually review projects and designate funds to those purposes deemed most appropriate. 26 Independent Examiner's Report to the trustees of St Mary Magdalen Church, Knighton Parochial Church Councll. I report on the accounts for the year ended 31st December 2024 Respective responsibilitles of the Trustees and Independent Examiner As trustees of the charlty, the members of the PCC are responsible for the preparation of the accounts. They conslder that an audit is not reqLtired for this year under sertion 144(2) of the Charitie5 Act 2011 (the 2011 Art) and that an independent examlnation is needed. It is my ￿spOnsIblE1ty to.. examine the accounts under settion 145 of the 2011 Act,. follow the procedures laid down in the General Direttions glven by the Charity Commissioners sectlon 145(5)(b) of the 2011 Att- and state whether partlcular matters have come to my attention. Basls of Independent Examiner's Statement My examination was carried out in accordance with the General Directions glven by the Charity Commission. An examination includes a review of the accountlng records kept by the charlty and a comparlson of the accounts presented with those records. Et also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit. and consequently I do not express an audit opinion on the accounts. Independent Examiner's Statement In connection with my examination, no matters have come to my attention.. l. which give me reasonable cause to believe that In any material respect the requirements to keep accounting records In accordance with s.130 of the 2011 Att. or to prepare accounts which accord with these accounting records have not been met: or 2. to which, In my opinion, attentlon should be drawn in order to enable a pmper understanding of the accounts to be reached. S.A Ranklne Corner Thatch, Bell Lane, Burton Overy, Leicesiershire. LE8 9DB Dated- 13th February 2025 27 _**“May the God of hope fill you with all joy and peace as you trust in him, so that you may overflow with hope by the power of the Holy Spirit.” (Romans 15.13)**_ 28