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2025-12-31-accounts

The Church of

St Mary Magdalen, Knighton

Annual Report: looking back at 2025

Presented to the Annual Church Meeting (APCM) on 26[th] April 2026

A Prayer for the Church of St Mary Magdalen, Knighton

God of the past, Who has sheltered us and blessed us; We are here to thank you.

God of the present, Here in the midst of us; We are here to praise you.

God of the future, Who is always ahead of us; We are here to trust you.

God of life, Beyond us, within us; We rejoice in your glorious love. Guide us we pray.

2

Contents

Contents
Introduction – the Rev’d Adrian Jones 4.
Our vision and our objectives 5.
Worship and Prayer 6.
Christian Life and Discipleship 6.
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 9-10.
Summary Review of Finances 2025 11.
St Mary Magdalen Management Accounts 12.
for 2025 and budget for 2026
Parish Centre Management Accounts 13.
Giving to Charities 2025 14.
Statutory Accounts 2025 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 23-27.
Independent Examiner’s Report 28.

3

Introduction from the Revd Adrian Jones:

Friends

Our modern world moves quickly – there is 24 hour rolling news, emails arrive on the phones in our pockets, decisions are expected on the spot, deliveries arrive next day (if not before). Change is expected to happen quickly and decisively.

In contrast, the historian J.H. Burns observed that “the Church thinks in centuries” and the satirical hymn “Backwards Christian Soldiers” reminds us that

“Like a mighty tortoise, moves the Church of God. Brothers we are treading where we’ve always trod.”

It is certainly true that in a traditional organisation like the Church of England, there is an inherent conservatism and a heavy bureaucracy that tends to stifle change. Social change can happen very rapidly, but the Church usually takes a long time to catch up.

The changes that have happened in our City and diocese over the last fifty years mirror those taking place across the country: our communities are multiracial and multifaith today; numbers of traditional churchgoers have fallen significantly and our giving has fallen too; the patterns of family life have altered; young people search for spirituality but not in churches; expectations of worship and shared life are now very different.

All this adds to up to a profound need to re-examine how the church shares our faith in Jesus and how we do things as a local group within our community. In the Diocese of Leicester this has led to the process by which we are forming Minster Communities.*

These local groups of churches are at the start of a new journey, towards increasing cooperation and partnership, and the sharing of people and resources – and there will be changes for every church. Most visibly perhaps, over the next few years our clergy will work within new teams and so there will be different faces to get to know. Each congregation will have a Focal Minister – a single person to provide a focus for ministry, worship and pastoral care – but the ordained ministers will work across the Minster Community, each with a specific responsibility such as schools and young people, administration, oversight, or discipleship and mission.

The process of forming these Minster Communities is taking time - important matters need deliberation and careful consideration – and each community of churches is making their own decisions based on local knowledge and gifts. Currently our own Minster Community (known by the shorthand of ‘Teal’) has a small group writing our proposal, for each PCC as well as the Bishop to consider later in the year.

The way to the future seems long (and perhaps a little tiresome) but I have the confidence that we are not alone:

“As they talked and discussed these things with each other, Jesus himself came up and walked along with them” (Luke 24.15)

The Road to Emmaus was the place where Jesus was revealed, and it gave the disciples who walked it a new joy, energy and impulse to share the news that God is (still) with us.

4

I pray that we’ll all be able to share this new purpose and encouragement as our Minster Community forms. Never doubt that Jesus joins us on each new journey, and that God’s purposes are good.

Yours in friendship and Christ’s service,

Adrian

Our vision and objectives

Our vision: Faith for Life – “I have come that they may have life; life in all its fullness” – Jesus (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:

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.

5

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.”

Highlights in 2025:

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 2025:

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 ”. 2025 highlights:

6

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.

2025 highlights:

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.

Highlights of 2025:

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.

Our “Fabric, Goods and Ornaments”

The fabric, goods and ornaments of St Mary’s have been maintained in good order in 2025. 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.

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.

Meeting on 18th March 2025:

The theme for the gathering, which was held at St. Christopher’s church, Leicester, was Pioneering Ministry. The evening began with refreshments, followed by a welcome and notices from Assistant Area Dean, Revd Adrian Jones.

After a time of sung worship, Ali Simpson-Smith and Sharon Plant, Ordained Pioneer Ministers in the deanery gave an introduction which included a description of what pioneer ministry is, and its breadth and diversity. Following on, pioneer ministers lay and ordained gave a short talk each about their pioneering projects. These were as follows: Phil Kemp - Street Pastors Revd. Vijay Kumar - from the Church of the Resurrection, BelgravePioneering in India and his plans for his new parish. Dave King - St. Paul with St. Augustine’s Church on the Community Hub Vikkii Antill - ‘At the Table’ monthly gathering of women’s ministry. Sharon Leeson – from St. John’s church, Clarendon Park -‘Beloved’ – a new community for families with additional needs. Revd. Sharon Plant – St. Anne and St. Paul with St. Augustine, on Wonderful Walks in her local park.

Ali and Sharon thanked the guest speakers for their contributions to the evening and invited all who have projects they are working on, or in mind to seek their support if they wished. Finally, they requested that Ali be notified of what pioneering projects were happening in the deanery so that a directory could be compiled, for the purpose of offering ongoing support. After notices, comings and goings, the meeting ended in prayer.

Meeting on 2nd July 2025: The theme for this meeting, which was held at Christ Church, Thurnby Lodge, was Healing Ministry. After refreshments and chat, the meeting opened with prayer and welcome given by the Assistant Area Dean, Revd Adrian Jones.

There were six speakers. Anne Holmes, author of ‘Creative Repair’ spoke about the importance of Pastoral Care (including for the clergy) and Creativity. A brief time was given over to questions at the end. Revd Sharon and John Andrews spoke on developing a Healing Ministry within their Benefice, including setting up footcare project utilising Sharon’s skills as a practitioner in that field. Revd Hilary Lomax provided a fascinating insight into hospitals via the prism of being a hospital chaplain, home and holistic healing. Revd Elaine Sutherland spoke about healing ministry from an evangelical/charismatic perspective. Finally, Fr Martin Court shared his experiences and insights into healing ministry at Walsingham.

There was no meeting in November 2025.

Qyan Arnachellum , Administrator, City Deanery

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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 Anglican parishes, the formation of ‘Minster Communities’, continued in 2025. Parish representatives were invited to take part in meetings to gather information on what was currently happening across our proposed Minster Community, and subsequently to begin thinking about possible areas of co-operation and partnership in the future. A Co-ordinating Group was formed (which includes Revd Adrian Jones and Fiona Wingate, our benefice Reader) to steer the process forward. It is expected that a written proposal for forming a Minster Community will be presented to churches, PCCs and the Bishop at the end of 2026.

10

ST MARY MAGDALEN REVIEW OF FINANCES – 2025

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.

Centre Income & Expenditure:

2025 lettings suffered through losing Your Cherubs preschool in the summer, whilst we have secured another preschool for 2026 our lettings for 2025 were down by £10,000 compared to 2024. Energy prices have continued to improve meaning overall expenditure has decreased slightly, however the year ended with a deficit of £4,722 - see the Centre management accounts for more details.

Church Income & Expenditure:

Income: Total income has increased in the year by £3,000 this is due to an increase in fees and other income. Regular giving has reduced slightly.

Expenditure: Overall expenditure shows an improvement of £8,000. Due to lower contribution to the diocese and lower energy costs, offset with some maintenance costs to the church building.

The PCC deficit before exceptional items was slightly better than budgeted at

£25,060. This was made up of a Centre deficit of £4,722 less a church operating deficit of £20,338. The exceptional items resulted in a total PCC deficit of £28,649 which was transferred from reserves.

Total unrestricted reserves at 31[st] December 2025 were £187,689

Restricted reserves at 31[st] December 2025 were:

Legacies – £21,700 was received during the year.

Charitable fund raising events in 2025 raised funds totalling £8,184.

Our financial priorities for 2025 are:

Budget 2026 (part of the PCC management accounts), Parish Centre Management Accounts, and Full Statutory Accounts follow this report.

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St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026 St Mary Magdalen Management Accounts for 2025 and Budget for 2026
Budget Budget Actual Actual
2026 2025 2025 2024
INCOME £ £ £ £
GivingScheme 33,983 55,000 35,243 52,359
Parish GivingScheme Donations 18,800 16,783
Plate collections 2,500 2,500 2,141 2,224
Gift aid 12,000 13,000 11,824 12,150
Total Regular Giving 67,283 70,500 65,991 66,733
Sundrydonations including gift aid 2,700 3,500 2,640 3,399
Events & other fund raising 2,000 2,400 1,652 2,153
Fees 5,000 4,000 6,662 3,422
Church hire 400 - 375 550
Misc 5,000 3,000 5,135 3,090
Total other income 15,100 12,900 16,463 12,614
Total Church income 82,383 83,400 82,455 79,347
EXPENDITURE
Contribution to Diocese 55,250
-		 66,300
-		 55,250
-		 64,715
-
clergyexes & cover costs 2,000
-		 3,000
-		 1,934
-		 3,152
-
total ministrycosts 57,250
-		 69,300
-		 57,184
-		 67,867
-
Worship& outreach costs 1,610
-		 1,700
-		 1,422
-		 1,771
-
Church runningexpenses 15,830
-		 16,680
-		 15,546
-		 18,220
-
Church routine maintenance 4,594
-		 4,185
-		 8,813
-		 3,678
-
Administration 19,635
-		 20,050
-		 19,368
-		 19,695
-
Less -printing/magincome 500 1,000 718 1,677
Net costs 19,135
-		 19,050
-		 18,649
-		 18,018
-
Office equipment depreciation 868
-		 1,180
-		 1,180
-		 1,180
-
Total routine church costs 99,287
-		 112,095
-		 102,793
-		 110,734
-
Church operating surplus/ -deficit 16,904
-		 28,695
-		 20,338
-		 31,386
-
Centre routine surplus/ -deficit after deprn 6,135 3,855 4,722
-		 3,382
Surplus/-deficit before exceptional items 10,769
-		 24,840
-		 25,060
-		 28,004
-
Exceptional items
Interest/dividends from reserves 4,000 4,000 5,135 6,281
Major maintenance - Church 5,000
-		 10,000
-		 4,388
-		 2,577
-
Major maintenance - Centre 5,657
-
Listed Places of WorshipGrant 1,320 429
1,000
-		 6,000
-		 3,589
-		 4,133
Total PCC surplus/-deficit to reserves 11,769
-		 30,840
-		 28,649
-		 23,871
-
Legacies received and designated 21,700
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12

Knighton Parish Centre Management Accounts for Knighton Parish Centre Management Accounts for Knighton Parish Centre Management Accounts for Knighton Parish Centre Management Accounts for Knighton Parish Centre Management Accounts for Knighton Parish Centre Management Accounts for Knighton Parish Centre Management Accounts for Knighton Parish Centre Management Accounts for 2025 and Budget for 2026 2025 and Budget for 2026 2025 and Budget for 2026 2025 and Budget for 2026 2025 and Budget for 2026
Budget Budget Actual Actual
2026 2025 2025 2024
Income
Hires 50,000 47,000 35,282 45,095
Total Lettings 50,000 47,000 35,282 45,095
Expenditure
Cleaning 9,900
-		 9,450
-		 8,135
-		 9,261
-
Caretaking 9,200
-		 8,550
-		 8,828
-		 8,200
-
Repairs 500
-		 700
-		 - 425
-
Lettings management 7,000
-		 6,600
-		 6,555
-		 6,355
-
Employer costs (NI/Pension employer) 2,800
-		 2,300
-		 2,601
-		 1,958
-
Totalpay & employer costs 29,400
-		 27,600
-		 26,119
-		 26,199
-
Furloughgrants
Councilgrant - - - -
Total Grants - - - -
Electricity 3,000
-		 3,000
-		 2,200
-		 3,105
-
Gas 4,000
-		 5,000
-		 4,590
-		 5,541
-
Insurance 1,700
-		 1,700
-		 1,642
-		 1,614
-
Routine maintenance 2,500
-		 3,000
-		 2,213
-		 2,721
-
licences 420
-		 155
-		 417
-		 148
-
Water 1,200
-		 1,000
-		 1,227
-		 871
-
12,820
-		 13,855
-		 12,289
-		 14,000
-
Total routine costs
Other costs 2,000
-		 1,500
-		 1,936
-		 1,444
-
Cleaningmats,towels etc - - - -
Telephone 290
-		 270
-		 279
-		 260
-
Advertising 200
-		 -
Sundries - - - -
2,290
-		 1,970
-		 2,215
-		 1,704
-
Total other costs 779 670 753 579
Recharge Other costs to St Guthlac's - lettingratio 34% 1,511
-		 1,300
-		 1,462
-		 1,125
-
Total net other costs
Total revenue expenditure 43,731
-		 42,755
-		 39,870
-		 41,323
-
Routine operating surplus/-deficit 6,269 4,245 4,588
-		 3,772
Depreciation over 10years 134
-		 390
-		 134
-		 390
-
Operating surplus/-deficit incl depreciation 6,135 3,855 4,722
-		 3,382
Major maintenance- over £1000 5,657
-
Total surplus/-deficit 6,135 3,855 10,378
-		 3,382

13

Giving to Charities through fundraising and appeals 2025
2025 2024
£ £
Collections:
Christian Aid Christmas Appeal plus online 69 73
Christian Aid Week 360 744
Grifaid(Water Aid) 102 130
Other activities supporting charities in theyear:
Lent Lunch - Goldhill food bank 2024 & 2025 256 325
Harvest Appeal - LOROS 2025(Ripple Effect 2024) 367 186
Fairtrade Fortnight 250 288
Royal British Legion - PoppyAppeal 177 299
Christmas Tree Festival - The Bridge 2025(Laura Centre 2024) 4,026 3,280
Josh SmalleyEvent - Wishes4Kids - 493
The Children's Society (Christingle Service) 200 103
Marie Curie Lunch 2,117
Marie Curie Daffodil Appeal 104
Leics Historic Churches - Ride and Stride 260 292
CharityDinner - The Samaritans - 563
Run the Wall - The Amos Trust - 400
Total charity giving and fund raising 8,184 7,280
Duringtheyear we also supported the South Leicester Foodbank with around 300kgof food
and delivered Easter eggs to Goldhill Food Bank and Open Hands Leicester
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

Statutory Accounts 2025

Presented to the Annual Church Meeting (APCM) on 26[th] April 2026

15

Statutory Accounts 2025

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 annual erosion of our reserves.

Total income and endowments 2025

Total income in the year was £163,723 which was £19,423 higher than in 2024, due mainly to the receipt of three legacies.

Total donations and legacies at £108,366 were £26,900 higher than 2024 due to:

Total income from fees was increased to £6,787 almost double the previous year.

Total other trading activities was £9,789 lower than 2024 at £43,161. This is mostly explained by the decrease in Centre lettings.

Total expenditure 2025

Total expenditure in the year was £173,696 which was £12,455 lower than 2024 This is mainly attributed to

Net income /(expenditure) for 2025 was (£10,069)

Gains/losses on investment assets – Loss on investments total £2,932.

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.

Risk management

16

The PCC manages risk through a number of mechanisms including the following specific policies and practices:

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 17[th] March 2026 and signed on their behalf by the Revd Adrian Jones (PCC Chairperson)

Administrative Information

17

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 2025, are:

Ex Officio members:

Incumbent: The Revd Adrian Jones (Chair) Curate: The Revd Cecilia Adjadje Warden: Mr Michael Gasper Warden: Dr Sian Howard (Vice-Chair) Elected members of the Deanery Synod: Mr Michael Gasper (until APCM 2028) Mrs Beryl Bonfield (until APCM 2028) vacancy Elected members: Ms Kate Adams (until APCM 2028) PCC Treasurer Mrs Amanda Beck (until APCM 2026) Mrs Tabitha Fogg (until APCM 2026) Mr David Palmer (until APCM 2026) PCC Secretary Mr Nigel Siesage (until APCM 2028) Mrs Ida Stanyer (until APCM 2027) Mrs Amanda Youngman (until APCM 2028) Vacancy x 1 (until APCM 2027)

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Knighton PCC

Statement of Financial Activities

For the period from 01 January 2025 to 31 December 2025

Unrestricted
Designated
Restricted
Endowment
Total
Prior year
funds
funds
funds
funds
funds
total funds
Income and endowments from:
Donations and legacies
69,951
38,414
—
—
108,366
81,404
Income from charitable activities
6,662
125
—
—
6,787
3,422
Other trading activities
43,161
—
—
—
43,161
52,950
Investments
5,135
272
—
—
5,408
6,523
Total income and endowments from:
124,910
38,812
—
—
163,723
144,300
Expenditure on:
Raising funds
96
—
—
—
96
528
Expenditure on charitable activities
153,464
20,231
—
—
173,696
186,151
Total expenditure on:
153,560
20,231
—
—
173,792
186,679
Net income / (expenditure)
(28,649)
18,580
—
—
(10,069)
(42,379)
Transfers
Gross transfers between funds - in
30,580
24,280
—
—
54,861
7,232
Gross transfers between funds - out
(20,365)
(34,495)
—
—
(54,861)
(7,232)
Net income / (expenditure)
(18,434)
8,364
—
—
(10,069)
(42,379)
Other recognised gains / losses
Gains / losses on investment assets
(2,932)
—
—
—
(2,932)
3,650
Net movement in funds
(21,366)
8,364
—
—
(13,001)
(38,729)
Reconciliation of funds
Total funds brought forward
668,472
80,692
1,000
—
750,165
788,894
Total funds carried forward
647,105
89,057
1,000
—
737,163
750,165
Represented by
Unrestricted
General fund
647,105
—
—
—
647,105
668,472
Designated
Choir Fund
—
325
—
—
325
200
Christmas Tree Festival
—
—
—
—
—
3,194
Designated Fund
—
15,643
—
—
15,643
10,215
Flower Guild
—
184
—
—
184
217
Friends of St Mary Magdalen
—
48,208
—
—
48,208
40,160
Music and Worship Fund
—
2,213
—
—
2,213
2,213
Parish Centre Fund
—
22,481
—
—
22,481
24,490
Restricted
Churchyard Fund
—
—
1,000
—
1,000
1,000

19

Knighton PCC

Balance sheet (Summary) As at: 31 December 2025

Fund 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		 As at 31/12/2025
£
548,474
548,474
8,026
61,801
123,326
193,154
4,465
188,689
737,163
737,163
647,105
—
22,481
325
15,643
184
48,208
2,213
—
—
—
1,000
—
—
—
—
—
—		 As at 31/12/2024
£
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
—
—
—
—
—
—
s of the church 737,163 750,165

20

Knighton PCC

Analysis of income and expenditure Selected period: 01 January 2025 to 31 December 2025

Total
Unrestricted
Designated
Restricted
Endowment
This year
Last year
Income and endowments
Donations and legacies
0101 - Giving gift-aided - bank
21,168
—
—
—
21,168
33,548
0103 - Parish Giving Scheme
16,782
—
—
—
16,782
—
0105 - Giving gift aided - cheques
—
—
—
—
—
2,500
0110 - Giving gift-aided - envelopes
7,068
—
—
—
7,068
7,162
0115 - Contactless - donations
1,050
—
—
—
1,050
2,479
0116 - Friends of Knighton Church
—
8,817
—
—
8,817
7,501
0201 - Giving - not gift aided
7,006
—
—
—
7,006
9,148
0301 - Loose plate collections
2,141
10
—
—
2,151
2,224
0550 - Donations appeals etc
1,231
10
—
—
1,241
920
0601 - Tax recovered-gift aided giving
10,758
—
—
—
10,758
10,874
0602 - Tax recovered-gift aided dons.
357
—
—
—
357
—
0603 - Tax recovered-small dons. sch.
1,066
84
—
—
1,150
1,275
0701 - Legacies
—
21,700
—
—
21,700
—
08A1 - Non-recurring one-off grants
1,320
7,792
—
—
9,112
3,769
Donations and legacies Totals
69,951
38,414
—
—
108,366
81,404
Income from charitable activities
1101 - Fees - weddings and funerals
6,662
125
—
—
6,787
3,422
Income from charitable activities
6,662
125
—
—
6,787
3,422
Totals
Other trading activities
0910 - Social & fund raising events
1,651
—
—
—
1,651
2,538
0912 - miscellaneous income
5,134
—
—
—
5,134
3,089
1240 - Centre lettings
35,282
—
—
—
35,282
45,095
1241 - Church lettings
375
—
—
—
375
550
1260 - Parish magazine sales
120
—
—
—
120
180
1261 - Printing re-charges
598
—
—
—
598
1,496
Other trading activities Totals
43,161
—
—
—
43,161
52,950
Investments
1001 - Dividends
1,768
—
—
—
1,768
2,137
1020 - Bank & building soc. interest
3,367
272
—
—
3,639
4,386
Investments Totals
5,135
272
—
—
5,408
6,523
Income and endowments
124,910
38,812
—
—
163,723
144,300
Grand totals		 Total
Unrestricted
Designated
Restricted
Endowment
This year
Last year
43,161
—
—
—
43,161
52,950
1,768
—
—
—
1,768
2,137
3,367
272
—
—
3,639
4,386
5,135
272
—
—
5,408
6,523
124,910
38,812
—
—
163,723
144,300
Expenditure
Raising funds
1720 - Costs of Giving Scheme
1730 - Costs of social & fund raising
events
Raising funds Totals		 96
—
—
—
96
92
—
—
—
—
—
435
96
—
—
—
96
528

21

Total
Unrestricted Designated Restricted Endowment This year Last year
Expenditure on charitable activities
1871 - Charitable giving — 4,000 — — 4,000 3,774
1910 - Contribution to Diocese 55,250 — — — 55,250 64,715
2050 - Salary of parish administrator 14,736 — — — 14,736 13,762
2060 - Muscian fees 380 — — — 380 1,663
2101 - Expenses of incumbent 873 — — — 873 848
2102 - Curate's expenses 1,060 — — — 1,060 2,304
2201 - Mission outreach 1,421 2,861 — — 4,282 3,703
2301 - Church insurances 5,496 — — — 5,496 5,388
2330 - Church routine maintenance 6,627 — — — 6,627 1,634
2331 - Church cleaning 1,819 — — — 1,819 1,835
2340 - Sacristry costs 291 — — — 291 634
2341 - Other music costs 902 — — — 902 992
2350 - Churchyard maintenance 2,185 — — — 2,185 2,043
2360 - Administration costs 4,534 — — — 4,534 5,839
2401 - Church electricity 1,515 — — — 1,515 2,094
2410 - Church gas 4,909 — — — 4,909 5,403
2420 - Church water 231 — — — 231 207
2520 - Centre wages 26,118 — — — 26,118 26,198
2530 - Centre electricity 2,199 — — — 2,199 3,104
2540 - Centre gas 4,589 — — — 4,589 5,541
2550 - Centre insurance 1,641 — — — 1,641 1,613
2560 - Centre routine maintenance 2,213 — — — 2,213 2,721
2570 - Centre licences 417 — — — 417 147
2580 - Centre water 1,226 — — — 1,226 871
2590 - Centre other costs 1,461 — — — 1,461 1,124
2701 - Church major maintenance 2,601 6,627 — — 9,228 26,413
2702 - Churchyard major maintenance 1,786 235 — — 2,021 —
2801 - Centre major maintenance 5,656 6,508 — — 12,165 —
3000 - Depreciation - Church & office 1,180 — — — 1,180 1,180
3001 - Depreciation - Centre 134 — — — 134 390
Expenditure on charitable 153,464 20,231 — — 173,696 186,151
activities Totals
Expenditure Grand totals 153,560 20,231 — — 173,792 186,679

22

These notes to the financial statements for the year ended 31st December 2025 the financial statements for the year ended 31st December 2025 the financial statements for the year ended 31st December 2025 the financial statements for the year ended 31st December 2025 the financial statements for the year ended 31st December 2025 the financial statements for the year ended 31st December 2025 the financial statements for the year ended 31st December 2025
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 VALUEAt 31 December 2024 £316,152 £231,424 £43,500 £591,076
Additions £0 £0 £0 £0
Disposals £0 £0 £0 £0
At 31 December 2025 £316,152 £231,424 £43,500 £591,076
DEPRECIATION At 31 December 2024 £0 £0 £41,287 £41,287
Disposals £0 £0 £0 £0
Charge foryear £0 £0 £1,314 £1,314
At 31 December 2025 £0 £0 £42,601 £42,601
NET BOOK VALUE At 31 December 2025 £316,152 £231,424 £899 £548,475
_1 _ Parish Centre, Brinsmead Road _3 _ Fixtures and fittings in the Centre and office
_2 _ Holbrook Hall, Holbrook Road
These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025 These notes to the financial statements for the year ended 31st December 2025

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 2024 £316,152 £231,424 £43,500 £591,076
Additions £0 £0 £0 £0
Disposals £0 £0 £0 £0
At 31 December 2025 £316,152 £231,424 £43,500 £591,076
DEPRECIATION At 31 December 2024 £0 £0 £41,287 £41,287
Disposals £0 £0 £0 £0
Charge foryear £0 £0 £1,314 £1,314
At 31 December 2025 £0 £0 £42,601 £42,601
NET BOOK VALUE At 31 December 2025 £316,152 £231,424 £899 £548,475
_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 buildingsincluded in the accounts is as estimated for insurancepurposes at 1 October 1998 .
The estimated insurance valuations at 28/09/25 are: Centre - £994k; Holbrook Hall - £608k
CURRENT ASSETS
2025 2024
Unrestricted Restricted Total Total
DEBTORS
Prepayment £598 £0 £598
£594
Sundries £5,302 £0 £5,302 £5,013
Gift Aid due £2,126 £0 £2,126 £2,532
Total debtors £8,026 £0 £8,026 £8,139
INVESTMENTS Use
CCLA Church of England Investment fund- units 1487 General reserve £16,454 £16,454 £36,706
CCLA Church of EnglandGlobal Investment fund- units 1493 General reserve £45,347 £45,347 £48,028
Total investments £61,801 £61,801 £84,734
CASH AT BANK AND IN HAND
Account
CCLA C of E Deposit General Reserve £91,091 £91,091 £58,091
CCLA C of E Deposit Specificgrave maintenance £1,000 £1,000 £1,000
Nat West current account Social Groupbank account £613 £613 £604
Lloyds current account Centre bank account £17,369 £0 £17,369 £20,761
Total short term deposits £109,073 £1,000 £110,073 £80,456
Barclays current account Main bank account £4,045 £0 £4,045 £8,616
Barclays deposit account Friends of St Mary's account £9,209 £0 £9,209 £19,355
Barclays current account Fees Account £0 £0 £0 £391
£13,254 £0 £13,254 £28,362
Total cash at bank and in hand £122,327 £1,000 £123,327 £108,818
TOTAL CURRENT ASSETS £192,154 £1,000 £193,154 £201,691
LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR
Sundry creditors £4,465 £0 £4,465 £611
Agency Collections £0 £0 £0 £704
NET CURRENT ASSETS £187,689 £1,000 £188,689 £200,376
ANALYSIS OF NET ASSETS BY FUND 2025 2024
Unrestricted Restricted Total Total
Tangible fixed assets £548,475 £0 £548,475 £549,789
Current assets £192,154 £1,000 £193,154 £201,691
Current liabilities -£4,465 £0 -£4,465 -£1,315
2 3

These notes to the financial statements for the year ended 31 December 2025 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 2025 2024 Office £14,737 £13,762 Parish Centre £26,119 £26,198

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. £20,000 worth of units were sold during the year and placed in the CCLA deposit account.The existing holdings decreased in value in the year by £2,933.

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

Designated Fund
Balance as at 01/01/25 £10,215
Income
Legacies £21,000
Non-recurring one off grant – Leics Historic Churches Trust (ramp) £500
Non-recurring one off grant – LPWGS (ramp) £770
Expenditure
Disabled access ramp & chairs (£6,627)
Transfer to General Fund
 (£10,215)
Closing Balance 31/12/25 £15,643
Choir Fund, Flower Guild Fund & Music & Worship Fund
Total Balances as at 01/01/2025 £2,630
Income
Donations Choir Fund £125; Flower Guild £10 £135
Expenditure
Flower Guild – Flowers (£43)
Closing Balances 31/12/2025 £2,722
The Christmas Tree Festival, organised by the Friends of St Mary Magdalen. generated a net
surplus of £8,052 which will be shared between the Bridge charity and the Friends fund.
Friends of St Mary Magdalen Fund (incl. Christmas Tree Festival Fund)
Balance as at 01/01/2025 £43,354
Income
Christmas Tree Festival £8,827
Interest received £273
Legacy £700
Gift aid received re 2024 CTF £85
Non-recurring one of grants - Ward fund grant CTF 2,022
Total Income £11,907
Expenditure
Charitable Giving - Donation to The Bridge CTF 2025 (£4,000)
Mission Outreach - Christmas Tree Festival costs (£2,818)
Churchyard Major maintenance Place of peace costs (£235)
Less Total Expenditure (£7,053)
Closing Balance 31/12/2025 £48,208
Parish Centre Fund
Balance as at 01/01/2025 £24,490
Income
Non-recurring one off grant – Archbishops’ Council £4,500
Expenditure
Options assessment, feasibility study, structural survey (£6,508)
Closing Balance 31/12/25 £22,481

8 Unrestricted reserves

The reviewed and revised PCC unrestricted reserves policy at 31/12/25 is as follows:

1) To hold an operational reserve of working capital, equal to 2 months of routine operating costs plus 3 months employee salaries, plus £50,000 for maintenance of the Church and Parish Centre.

2) 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 31/12/25, the total unrestricted reserves required in accordance with the policy is £103,199. Actual total unrestricted reserves (general and designated) at 31/12/25 totalled £187,689.

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 reviews projects and designates funds to those purposes deemed most appropriate.

27

Independent Examiner's Report to the trustses of St Mary Magdalen Church, Knighton Parochlal Church Council. I report on the accounts for the year ended 31st December 2025 Respectlve responsibilities of the Trustees and Independent Examiner As trustees of the charfty, the members of the PCC are responsible for the preparation of the accounts. They consider that an audlt Is not requI￿d for this year under sertion 144(2) of the Charities Act 2011 (the 2011 Act) and that an Independent examlnatlon is needed. It is my responsibllity to.. examine the accounts under sertion 145 of the 2011 Act; follow the procedures laid down in the General Direttions given by the Charity Commlssioners sertion 145(5)(b) of the 2011 Act; and state whether partlcular matters have come to my attention. Basls of Independent Examlner's Statement My examinatlon was carried out in accordance wlth the General Direttlons given by the Charlty Commission. An examination includes a review of the accounting records kept by the charlty and comparison of the accounts presented with those records. It also Includes consideration of any unusual Items or disclosures in the accounts, and seeklng explanatlons from the management committee concernlng any such matters. The procedures undertaken do not provide all the evidence that would be requlred In a full audit, and consequently I do not express an audit opinion on the accounts. Independent Examin•r'$ Statement In connection byith my examlnation, no matters have come to my attention." l. which give rne reasonable cause to belleve that in any materlal respert the requirements to keep accounting records in accordance wlth s.130 of the 2011 Art; or to prepare accounts whlch accord with these accountlng records have not been met,. or 2. to which, in my opinlon, attenuon should be drawn In order to enable a proper understanding of the accounts to be ￿aChed. S.A Rènklne Corner Thatch. Bell Lane, Burton Overy, Lelcestershlre. LE8 9DB Dated.. Ilth Fèbruary 2026 28