Annual Report & Financial Statements of the Parochial Church Council of the Ecclesiastical Parish of Swindon New Town for the year ended 31 December 2024
Rector - Fr Toby Boutle SSC
Banks
CAF Bank 25 Kings Hill Avenue West Malling ME19 4TA
Santander Bridle Road Bootle L30 4YY
Independent Examiner James Gare Monahans
Chartered Accountants Hermes House, Fire Fly Avenue Swindon SN2 2GA
Parish Office S. Aldhelm’s Centre Edgeware Road Swindon SN1 1QS
Registered Charity No: 1131070
www.psnt.uk
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The churches of the parish
S. Mark’s, Church Place, Swindon SN1 5EH
S. Saviour’s, Ashford Road, Swindon SN1 3NS
S. Luke’s, Broad Street, Swindon SN1 2DS S. Aldhelm’s, Edgeware Road, Swindon SN1 1QS
Trustees of the charity
The members of the Parochial Church Council (“the PCC”) are the charity trustees. They are either (1) ex officio, (2) elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules; or (3) co-opted in accordance with the same rules.
During the year the following served as members of the PCC:
| Rector: | Fr Toby Boutle SSC (PCC Chairman) | |
|---|---|---|
| Mission Priest: | Fr Ross Copley SSC | |
| Assistant Curate: | Fr Timothy Davies SSC | |
| Churchwardens: | Pat Gordon (also Parish Safeguarding Officer until August 2024) | |
| Carole Green | ||
| Members of the Diocesan Synod | ||
| To retire 2027 | Alasdair Skeil | |
| Helen Watt | Until June 2024 | |
| Jill Huby | Until June 2024 | |
| Eliana Pretorian | From October 2024 | |
| Members of the Deanery Synod | ||
| To retire 2026 | Helen Watt | From 23 May 2024 |
| Lynn Trigg (also Parish Safeguarding Officer from May 2024) | ||
| Elected members: | ||
| Due to retire 2025 | Sarah Hornsey | |
| Nicola Saunders |
||
| Linda McEntee | ||
| Alastair Steele-Davis (PCC Vice Chairman) | ||
| Mary Gladman | ||
| David Stephenson | ||
| Due to retire 2026 | Máedóc Ellis | Until 14 October 2024 |
| Rosemarie Schofield | ||
| John Bishop (Deputy Churchwarden and PCC Treasurer) | ||
| Christine McKinlay | ||
| Due to retire 2027 | Pat Mortimer | |
| Caroline Tiller | ||
| Vicki Pepper | ||
| Sue Carvell | ||
| Christine Cox | ||
| Co-opted Member: | Fr David Woodhouse | |
| Greta Davies | From 14 October 2024 |
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AIMS AND PURPOSES
The PCC is responsible for co-operating with the incumbent, Fr Toby Boutle, in promoting the Christian faith and the whole ministry of the Church, pastoral, evangelistic, social and ecumenical in the ecclesiastical parish of Swindon New Town. It also has responsibility for the maintenance of the church buildings and halls at S. Mark’s, S. Saviour’s, S. Luke’s and S. Aldhelm’s.
OBJECTIVES AND ACTIVITIES
The PCC is committed to making people from all backgrounds feel welcome and able to participate fully in the life of the Church. The PCC supports the incumbent in his oversight of the worship. The Mass is the source and summit of the Church’s life. Mass is celebrated daily and with music and solemnity on Sundays and other significant days in the liturgical calendar.
In planning our activities, the PCC has considered the Charity Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. We try to enable people to live out their faith as part of our parish community through:
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Worship, prayer and the administration of the sacraments;
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Ministry to all parts of the community, through, for example, our weekly Konkani Mass and extensive ministry with young people and children;
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Teaching the catholic faith as the Church of England has received it;
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The provision of pastoral care for people living in the wider parish;
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Mission and social action for the wider community, such as our Welcome Spaces at S. Mark’s and S. Luke’s, and through partnership with other charitable organisations, including particularly the Swindon Food Collective.
ACHIEVEMENTS AND PERFORMANCE
This was another year of significant growth for us as a parish: we saw this numerically, with many more people actively participating in the worship and life of the Church; in our mission and outreach to the wider community; and in our catechetical and evangelistic work. Our Mission Project entered its second year. Through this project we are exploring what “good growth” looks like in a Catholic context; the project is funded by the Church of England nationally (through Innovation Funding), the Confraternity of Blessed Sacrament, the Additional Curates’ Society and the Diocese of Bristol.
2024 marked the centenary of the reservation of the Blessed Sacrament in the Parish. So we kept 2024 as the Year of the Eucharist . This included well attended lectures on Eucharistic theology, a Lent course on holy scripture and the Eucharist, and a rich celebration of Corpus Christi, which included thirty-four hours of Eucharistic adoration and a procession around the GWR Park. This culminated in our Eucharistic Festival, three days of worship, teaching and fellowship, with over 125 people participating. Talks were given by Bishop Martin Warner, Bishop Martyn Jarrett, Clare Williams and Brother Michael Jacob. The Bishop of Oswestry, the Rt Revd Paul Thomas, joined us for a festival Mass which include a Eucharistic procession from S. Luke’s to S. Mark’s through central Swindon, a visible act of witness which was well received by local residents. There was excellent engagement and lay participation throughout.
Fittingly for the Year of the Eucharist, Fr Timothy Davies (our Assistant Curate) was ordained to the sacred priesthood on 1 July 2024 by Bishop Paul Thomas in Bristol Cathedral. Fr Tim celebrated his first Mass at S. Mark’s. The Mass is offered at least daily in the Parish. With the launch in Advent 2024 of an early morning said Mass at S. Mark’s, there are now five Sunday Masses in the parish, including the weekly Konkani Vigil Mass at S. Luke’s. At the end of 2024, Fr David Woodhouse retired from his permission to officiate – his generous service in the Parish over decades has been crucial in sustaining and growing our Christian witness in Swindon New Town.
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The parish’s work with children and young people is continuing to thrive and to grow, led by our Mission Worker, Tom Dumbell and by many dedicated lay people within the parish. Highlights include:
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1.For the first time, we led a party of young people (seven in total – from Swindon New Town and All Hallows’, Easton) on the Youth Pilgrimage to Walsingham.
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2.Our Eucharistic Messy Church has grown significantly; now based at S. Saviour’s it is drawing on the parish’s established links with the scouting movement.
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3.We ran summer holiday and half-term provision, which we promoted particularly to those in social need in the wider parish.
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4.Tom and the clergy led assemblies at Robert le Kyng school.
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The numbers of young children at our Sunday Masses continue to growth – with Sunday school provision now well established, and more lay people helping with children’s work.
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At Christmas, the local army cadets held a carol service at S. Mark’s for the first time, through Fr Tim’s engagement with them. We held well attended crib services at S. Saviour’s and S. Mark’s, and our young people’s choir (which meets weekly) helped lead the carol service at S. Luke’s and took part in Broadgreen’s civic Christmas tree light-up celebrations.
The weekly Welcome Space at S. Mark’s is now well established, with a good cross-section of the local community enjoying warmth and hospitality there. We have sought to develop, in an appropriate way, connections between the Welcome Space and worship and evangelization, with a Mass preceding the Welcome Space and teaching following it. This included our first Alpha course , which had up to twelve participants. In 2024, in co-operation with the Livewell Team at Swindon Borough Council, we launched the Welcome Space and Free Shop at S. Luke’s . As well as providing refreshments and social interaction, this also includes a rail of free clothes; this is promoted particularly to people who are refugees or seeking asylum.
Other highlights of 2024 include: the continued growth of participation from member of the Goan community , including a lay-led novena to S. Anthony of Padua; the ongoing strengthening of the choral tradition at S. Mark’s, with the appointment of Dr Thomas Edwards as Director of Music, building on the work of Katrine Reimers; the growth of our Theology in the Pub discussion group; a fortnightly lay-lead Rosary home group ; lay preaching at our Wednesday evening Masses. We were also joined in 2024 by our first full-time pastoral assistant , Dominic Veveris, whose residential placement with us is funded by the Cleaver Trust and the Anglo-Catholic Ordination Candidates’ Fund. 2024 also saw the induction and collation of Fr Toby Boutle as Rector of the Parish by the Bishop of Bristol at a Mass celebrated by the Bishop of Oswestry; Fr Toby has served as Parish Priest here since 2020.
The parish relies on the generosity, gifts and Christian discipleship of our committed lay people. Their work is central to the life of our churches in countless ways, from running our halls, to the ministry of welcome, music, cleaning, the maintenance of sacristies and the preparations needed for worship in each of our churches, and teaching in our Sunday Schools. These make an enormous contribution to the life of the parish. The PCC thanks particularly John Bishop, our PCC Treasurer, for his dedicated and knowledgeable work, as well as Sue Carvell (who served as PCC Secretary until May) and her successor Greta Davies, for their commitment and service. The PCC met on six occasions during the year including a strategy day (pictured).
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The PCC continues to ensure that our church buildings are cared for and maintained, drawing on the quinquennial reports and the guidance of our inspecting architect, Calvin Weaver.
In 2024, the following were recorded in the parish records:
| Church | Total Acts Of Communion |
Electoral Roll |
Ave. Sunday Attendance Adult Youth |
Baptisms | Weddings | Funerals |
|---|---|---|---|---|---|---|
| S. Mark’s | 4,718 | 87 | 67 8 |
8 | 1 | 1 |
| S. Saviour’s | 2,525 | 84 | 39 8 |
1 | - | 2 |
| S. Luke’s | 6,920 | 95 | 82 13 |
2 | - | 1 |
| Total | 14,163 | 266 | 188 29 |
11 | 1 | 4 |
FINANCIAL REVIEW
With growing attendance, we saw a significant increase in plate collections, which was up by over 20 per cent. Planned giving showed an increase of 10 per cent compared with 2023. The income tax refund increased by almost 7 per cent. A stewardship campaign in late 2024 resulted in pledges which would see a potential annualized increase in planned giving from £57,000 to £69,000. Income from the halls of the four churches showed a small increase from 2023 to £28,314. As we sought to reduce our deficit, the PCC agreed to end the previous practice of giving 10 per cent of planned giving to other charitable causes. At the close of the year, the Stewardship Account recorded a deficit of £30,903; this was mainly due to the significant cost of utilities and hall income which remains low by our historic levels. This deficit was met from the General Purposes Fund.
Our payment of Parish Share to the Diocese of Bristol was maintained at £96,000. Repair costs for each of the churches continued to increase this year. Our gas and electricity is purchased via the Church of England’s Parish Buying Scheme; those costs decreased very slightly during 2024 due to the decrease in global energy prices and lower usage compared with the previous year.
The Revenue part of the Unrestricted General Purposes Fund decreased its balance from -£3,926 to -£58,815 during the year, due to loss on the stewardship account and capital projects. The PCC has continued to exercised active stewardship of parish properties. The officers have spent time considering both repairs and improvements; the General Purposes fund, which holds the income from rentals and other income, is often called upon to fund this kind of work.
The PCC Finance Committee is actively seeking to balance our budget. A budget for 2025 was produced by the committee and approved by the whole PCC.
Banking:
The Parish banks principally with CAF Bank (Charities Aid Foundation Bank) which allows us to conform with best practice for charities (including dual signatories for on-line transaction). The net bank charges incurred in 2024 were £73.00.
Gift Aid:
The amount recoverable from HMRC in 2024 amounted to £17,478 compared with £16,361 in 2023.
Properties:
121 Victoria Road: Firestorm Games commenced their 10-year Lease in January 2019 with an annual rent of £25,000. The PCC receives one-third of the income and is responsible for the payment of one-third of any additional expenses incurred.
6 Grosvenor Road: This property was bought with the proceeds of the sale of The Old School and the Tin Hut, Maxwell Street, which can only be used for the purchase of investment property. This property is currently being let at a rental income of £1,080 pcm less 10 per cent commission.
Dowling Street Hall – Wessex Squash Club: The rent for the lease is £7,000 pa and a renewal of lease is being finalised.
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S. Saviour’s Church Land Charity: The car park which has been constructed at the rear of 94 Kent Road provides a resource for users of S. Saviour’s church and hall. The property is used to house the Assistant Curate.
3 Briar Fields: The financing of this property is currently - Walter Timbrell Bequest (36.4%), endowment (28.44%) and PCC funds (35.16%). The Diocesan Board of Finance (DBF) is the custodian trustee of the property and holds the property on behalf of the PCC, the managing trustees of the property. This property is used to house the Mission Priest. From February 2023 the PCC has received from the Mission Project Innovation Fund a sum of £951 pcm in lieu of lost rental income
All our properties listed above with the exception of Dowling Street hall were revalued at 31[st] December 2023.
Investments Policy
The PCC invests with the Church Board of Finance (CBF) in Accumulation Shares, and it considers this to be a longterm investment. Our investment of unrestricted funds with the CBF totals £356,162. The value at the close of 2023 was £350,843, less a disposal of £12,517 for parish projects making an unrealised gain of £17,836. In addition to this, the Income Shares invested by the Diocese on our behalf made an unrealised gain of £2,281.
In 1995 the PCC established the Parish Reserve Capital Fund (Designated & Endowment). This fund is maintained in order to fund capital expenditures, in excess of that able to be met from the General Purposes Fund, in the parish without recourse to extraordinary fundraising, and also to balance any other parish fund which from time to time is in deficit. The PCC have reaffirmed that it continues to believe that maintaining reserves of this level is reasonable and prudent. The General Purposes Fund provides a modest cushion in case regular giving in any particular year is not able to meet day-to-day expenses. The Reserve Capital Fund offers a further buffer, which helps to ensure that our buildings are kept in repair and that they satisfy the requirements of current legislation. The level of this fund is defined in the Annual Accounts; note 11.
RESERVES POLICY
Each of our funds is intended to be self-sufficient; however, due to major building works or other capital expenditure, the General Purposes Revenue (Unrestricted - Designated) Fund can go into deficit.
The total unrestricted funds of the Parish are £641,401 made up of £356,162 of investment assets in the Central Board of Finance, £296,449 of investment property and free net current assets of £11,210 held in Designated Funds.
The PCC of Swindon New Town Parish had established a fund known as the Parish Reserve Fund, later re-titled the General Purposes Fund, prior to the 1993 revision of the Charities Act, and the PCC deposits into this fund the income from properties owned by the parish and income from other investments, which is not restricted in any way. This fund stands at £309,864.06 at the end of 2024 and is held in investment assets, which could be liquidised to fund future large-scale capital expenditure. During 2023 the PCC sought approval from the Charity Commission to allow the capital endowment of the Maxwell Street Trust to be released to allow the capital to be used as income. The Charity Commission approved this proposition, and the funds were released by the Diocese, as Custodian Trustees, to the PCC’s funds to be used as an expendable endowment. During the year the PCC used this expendable endowment to carry out works to the tower and spire and the roof at S. Mark’s, along with the clearing of roof gutters at all three churches and arboreal works.
The purpose of this fund is to enable large-scale expenditure for the maintenance and upkeep of the churches and other buildings of the parish, without the necessity of recourse to fundraising.
The PCC aims to hold at least six months’ running costs (in the region of £85,000 pa) in reserve. The value of reserves is subject to the rise and fall in investment market value. Possible works, which may be identified in the Quinquennial Inspections, would cause a further reduction in the level of reserves.
There is a total of £39,954 held in Restricted Funds.
The Reserve Fund has also been drawn upon from time to time in the past to satisfy deficits in the Parish Stewardship Account, the day-to-day operating and running expenses account for the parish. In certain years it has not been found necessary to expend the whole of the income of the General Purposes Fund; in other years, however, the demands on the fund have exceeded its annual income. In view of the age of the parish’s buildings, and the fact that one of them is an important, listed building, the PCC have considered the fund necessary in order to maintain the parish’s existing work. In general, the expenditure on buildings in any given year is limited to the amount of annual income into the fund.
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FUNDS HELD ON BEHALF OF OTHERS
The S. Saviour’s Church Land Charity is constituted by a scheme of the Charity Commission dated 19 February 1993 and is a registered charity, number 1021748. Its trustees are the members of the PCC. Its objects are to promote the religious and other charitable work of the Church of England in the Ecclesiastical Parish of Swindon New Town.
The land and buildings included in the Balance Sheet represent 100% of the equity of the house and land at 94 Kent Road, Swindon. The freehold is vested in the Bristol Diocesan Board of Finance Limited as Diocesan Authority in trust for the PCC of Swindon New Town, in its corporate capacity. The PCC has created a car park at 94 Kent Road with the funds held in the Charity, for the benefit of the users of S. Saviour’s church an hall. The cost of this work has been capitalised and shows in the accounts as an additional asset.
There is no requirement to submit a separate Annual Report to the Charity Commission although there is a requirement to submit an Annual Return and an Annual Trustee Update Form.
Not included in the balance sheet are the land and buildings at S. Saviour’s Church and Church Hall, both in Ashford Road, Swindon. The trustees have been unable to obtain records detailing the original cost of this land and buildings. The buildings are approximately 134 years old. Both buildings are used and maintained by the PCC.
MOVEMENT OF FUND
RECEIPTS & PAYMENTS ACCOUNT – for the year ended 31 December 2024
| 2024 | 2024 | 2024 | 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Permanent | Total | Total | ||||||
| Funds£ | Endowment | Endowment£ | Funds£ | Funds£ | |||||
| Receipts | |||||||||
| Income | - | - | - | 5,2 | 5,2-5.00 | 5,225.00 | |||
| Total Receipts | -- | - | - | -- | 5, - | -- .00 |
5,225.00 | ||
| Payments | |||||||||
| Support costs | - | - | - | - | 5,225.00 | ||||
| Car park security costs Total Payments |
Car park security costs | -000 | - - - |
- - | - | - - | - - - |
- 5,225.00 |
|
| Excess of Payments over Receipts ( ) | Excess of Payments over Receipts ( ) | - | |||||||
| Cash Funds at 1 January 2024 | - | 1,076.94 | 1,076.94 | 1,076.94 | 1,076.94 | ||||
| Cash Funds at 31 December 2024 | - | 1,076.94 | 1,076.94 | 1,076.94 | 1,076.94 | ||||
| STATEMENT OF ASSETS AND LIABILITIES as at 31 December 2024 | STATEMENT OF ASSETS AND LIABILITIES as at 31 December 2024 | STATEMENT OF ASSETS AND LIABILITIES as at 31 December 2024 | STATEMENT OF ASSETS AND LIABILITIES as at 31 December 2024 | ||||||
| Notes | Notes | 2024 | 2023 | ||||||
| £ | £ | £ | £ | £ | |||||
| Fixed assets for charity use | |||||||||
| Kent Road | 363,580.00 | 266,416.04 | |||||||
| Current Assets | |||||||||
| Debtors | - | - | - | - | |||||
| Central Board of Finance Ltd | Central Board of Finance Ltd | 1,076.94 | 1,076.94 | ||||||
| Current Liabilities | |||||||||
| Creditors | - | - | |||||||
| Net Current Assets | Net Current Assets | 364,656.94 | 267,492.98 | ||||||
| Total Assets less current liabilities | 364,656.94 | 267,492.98 | |||||||
| Funds | |||||||||
| Permanent Endowment | 364,656.94 | 364,656.94 | 267,492.98 |
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STRUCTURE, GOVERNANCE & MANAGEMENT
The PCC is a body corporate established by the Church of England. The PCC operates under the Parochial Church Councils (Powers) Measure 1956. The PCC is a registered charity.
Membership of the PCC is governed by the Church Representation Rules. PCC members are either ex officio (by virtue of being licensed clergy, churchwardens or members of the Deanery or Diocesan Synods), or elected at the Annual Parochial Church Meeting or co-opted in accordance with the Church Representation Rules. Each year, the PCC must hold a sufficient number of meetings to enable the efficient transaction of its business. Between meetings, the Standing Committee, a committee required by law, may transact the PCC’s business, subject to any direction given by the PCC. In addition, the PCC has five committees to increase the ability of PCC members to participate in decision-making, to make better use of the gifts of PCC member and to allow more focused scrutiny than is possible in full meetings of the PCC. The five committees cover property; finance; human resources; fellowship; and mission. We also seek to hold regular open forum meetings at each church, which all members of the congregation can attend, to give a space to discuss matters relevant to life and mission of each congregation.
Each year, the Annual Parochial Church Meeting (“the APCM”) receives: a report on the parish electoral roll; an annual report on the proceedings of the PCC and the activities of the parish generally; the financial statements of the PCC; the annual fabric report under s. 50 of the Ecclesiastical Jurisdiction and Care of Churches Measure 2018; and a report of the proceedings of the Swindon Deanery Synod. The APCM elects members of the PCC and representatives to the Swindon Deanery Synod. It also appoints an independent examiner for a term of office ending at the subsequent year’s APCM.
The parish is part of the Diocese of Bristol. In 2016, the PCC passed a resolution requesting arrangements to be made for it in accordance with the House of Bishops’ Declaration on the Ministry of Bishops and Priests; as a result, the parish receives episcopal oversight from the Bishop of Oswestry. The Parish is affiliated to the Society under the Patronage of Saint Wilfrid and Saint Hilda; it is a member of Forward in Faith and of the Church Union.
The PCC has responsibility for a wide range of matters affecting the parish, including compliance with health and safety law, equalities legislation and the safeguarding of children and vulnerable adults. All members of the PCC undertake regular safeguarding training. Members of the PCC will also participate in other training courses arranged by the diocese or deanery, reporting back to the PCC in order to disseminate information. Members of the PCC are all required to complete trustee eligibility and fit and proper person declarations. Safer recruitment guidelines are followed for the appointment of employees and volunteers as appropriate.
SAFEGUARDING OF CHILDREN AND VULNERABLE ADULTS
The PCC has complied with its duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016. (This is the duty to have regard to the House of Bishops’ guidance on safeguarding children and vulnerable adults.)
Safeguarding is of the utmost importance to the PCC. We want our church communities to be safe and welcoming places. We have adopted our own safeguarding policies in line with those of the Diocese of Bristol and the Church of England nationally, which are reviewed by the whole PCC annually. Safeguarding is discussed at each PCC meeting, with the Parish Safeguarding Officer updating the PCC about progress, including via the diocesan Safeguarding Dashboard. Those working with children, young people and vulnerable adults, as well as the PCC members (as trustees with oversight of safeguarding), have had DBS checks and regular safeguarding training provided by the Diocese of Bristol. The parish safeguarding policies are available on our parish website. Posters with safeguarding information and points of contact are displayed prominently at each of the churches. Our parish safeguarding officer is Lynn Trigg; there are also safeguarding officers at each of the churches. Our hiring agreement for organizations using any of our premises contains express safeguarding provisions.
RISK MANAGEMENT
The parish continues to insure with Trinitas – Church Insurance Services which provides cover for the most significant high impact risks identified by the PCC. The church buildings and hall are insured with Trinitas. The other properties are insured with the Ecclesiastical Insurance Group.
Fire risk assessments have been completed for all the parish buildings pursuant to the PCC’s obligations under the Regulatory Reform (Fire Safety) Order 2005.
The PCC continually monitors the condition of our buildings to ensure that all users of the churches and halls are at minimal risk. In 2024, arboreal work took place in the churchyard in accordance with expert advice.
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The process of identifying the major risks, to which the parish is exposed, as identified by the PCC, continues. The PCC is committed to continuing this review of risks identified, and that the systems established to mitigate those risks are improved where necessary. The PCC has written financial procedures, which are reviewed in detail by the Finance Committee and have recently been readopted by the whole PCC.
During 2024, the PCC continued to review of our safeguarding policies and ensured these were up-to-date in accordance with the most recent guidance from the Diocese of Bristol and the Church of England nationally. We have also carried out risk assessments of all activities run by the Parish involving children and young people or vulnerable adults.
Our Mission project is being overseen by a Project Board, chaired by the Archdeacon of Malmsbury. The board meets three times a year and reviews the progress against the targets set out in our application and the implementation of the plans in general. The diocese pays for a project manager who is helping to collate data and has prepared a risk register and other documents to ensure robust management and oversight of the project. Gathering data in terms of who we are reaching and how is an important part of the project, which is intended to share learning about mission in a catholic context.
FUTURE PLANS
The Parish Mission Project will continue in 2025; sustaining this work, especially identifying funding for the Mission Worker post from April 2026, will be a priority for the PCC this year. 2025 is being kept in the parish as the Year of Discipleship. One of the key aims of the Mission Project is to strengthen and expand lay ministry. Our plans for work with young people include a new toddler group and youth group, as well as pilgrimages for young people to Lourdes and Walsingham. The PCC is continuing to explore, in co-operation with the Swindon Food Collective, plans for the development of S. Aldhelm’s so that is can be a lively place of mission, worship and service within the town centre.
Signed on behalf of the Parochial Church Council
Fr Toby Boutle SSC Rector & PCC Chairman Dated: 4 May 2025
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PARISH STATISTICS
----- Start of picture text -----
16,000
300 14,163
250 229 247 266 14,000 12,238 S. Mark
OO 205 216 12,000 ee S. Saviour
200 a | S. Mark 10,000 J 9,218 S. Luke
150 S. Saviour 8,000 6,892 Total
100 S. Luke 6,000
4,193
50 P= ee see see oe Total 4,000 rr ee eee
2,000
0
one 2020 2021 Wee 2022 Gee 2023 ee 2024 0 =| re
2020 2021 2022 2023 2024
Electoral Roll Total Acts of Communion
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
S. Mark 54 58 64 74 87 S. Mark 1,419 3,144 3,693 3,825 4,718
S. Saviour 77 81 81 82 84 S. Saviour 1,358 1,751 2,149 2,537 2,525
S. Luke 74 77 84 91 95 S. Luke 1,416 1,997 3,376 5,876 6,920
Total 205 216 229 247 266 Total 4,193 6,892 9,218 12,238 14,163
200 188
180 90,000 81,258
160 7 148 80,00070,000 OO 67,186 72,340
140120 125 60,000 51,435 55,060 S. Mark
100 SSS 98 94 S. Mark 50,000 SS S. Saviour
80 S. Saviour 40,000 S. Luke
60 S. Luke 30,000 Total
40 Total 20,000
20 10,000
0 car ==rlal4 2020 bee 2021 2022 | 2023 | 2024 0 ==ar 2020 Gar 2021 Ha 2022 Fann 2023 =| 2024
Ave. Adult Sunday Attendance Planned Giving & Collections
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
S. Mark 32 38 46 54 67 S. Mark 11,834 16,803 22,804 24,324 25,643
S. Saviour 34 26 32 32 39 S. Saviour 22,932 20,024 21,794 22,189 22,638
S. Luke 32 30 47 62 82 S. Luke 16,669 18,233 22,588 25,827 32,977
Total 98 94 125 148 188 Total 51,435 55,060 67,186 72,340 81,258
25 3
20 2
20 2
15 S. Mark 2 S. Mark
11 S. Saviour 1 1 1 1 S. Saviour
10 8 S. Luke 1 S. Luke
Total
Total
5 3 4 1
0 0
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Baptisms Weddings
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
S. Mark 1 2 19 8 8 S. Mark 1 1 2 1 1
S. Saviour 2 2 1 1 S. Saviour
S. Luke 2 S. Luke
Total 3 4 20 8 11 Total 1 1 2 1 1
9 9 90%
8
8 8 80%
7 - 6 S. Mark 7 SSS 70%
6 6 60%
S. Saviour
5 5 50%
4 S. Luke
4 3 Total 4 40%
3 See : 3 Eee: 30%
2 1 2 20% Meetings
1 1 10% Attendance
0 oH 2020 2021 es 2022 | 2023 el 2024 | 0 — 2020 =| 2021 =| 2022 =—=—5- 2023 2024 0% e
Funerals PCC Meetings and Average Attendance
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
S. Mark 4 2 2 1 Meetings 4 6 6 6 5
S. Saviour 3 2 2 Attendance 78% 76% 73% 65% 70%
S. Luke 1 1 1 2 1
Total 1 8 3 6 4
----- End of picture text -----
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STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2024
| Un-restricted | Restricted | Endowment | TOTAL FUNDS | TOTAL FUNDS | ||||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | ||||
| NOTES #### |
Stewardship Rainbow Other >———_#— |
|||||||
| See following pages | ||||||||
| INCOME AND ENDOWMENT FROM: | £ | £ | £ | £ | £ | |||
| #### ##### | ||||||||
| 2a | Donations and Legacies | 98,736.05 | 23,393.68 | 4,087.98 | 126,217.71 | 104,341.25 | ||
| 2b | Other trading activities | 26,402.75 | 2,749.56 | 6,907.00 | 36,059.31 | 40,189.41 | ||
| 2c | Investment and Rents | 141.17 | 23,734.89 | 2,624.82 | 26,500.88 | 37,004.78 | ||
| 2d | Church activities | 1,227.00 | 85,643.64 | 86,870.64 | 61,000.19 | |||
| 2e | Other Income | |||||||
| TOTAL INCOME & ENDOWMENTS | 126,506.97 | 49,878.13 | 99,263.44 | 275,648.54 | 242,535.63 | |||
| EXPENDITURE ON: | ||||||||
| 3a | Raising Funds | 190.09 | 190.09 | 198.49 | ||||
| 3b | Church Activities | 157,219.80 | 63,226.76 | 71,035.63 | 26,069.60 | 317,551.79 | 449,903.56 | |
| 3c | Other Expenditure | 8,874.57 | 8,874.57 | 2,498.65 | ||||
| TOTAL EXPENDITURE | 157,409.89 | 72,101.33 | 71,035.63 | 26,069.60 | 326,616.45 | 452,600.70 | ||
| GAINS AND (LOSSES) ON INVESTMENT ASSETS | GAINS AND (LOSSES) ON INVESTMENT ASSETS | |||||||
| 4b | - on unrealised investments | 17,836.15 | 2,280.70 | 20,116.85 | 47,733.02 | |||
| - on property revaluation | (2,784.67) | (12,555.33) | (15,340.00) | 424,667.00 | ||||
| NET INCOME/(EXPENDITURE) | (30,902.92) | (7,171.72) | 28,227.81 | (36,344.23) | (46,191.06) | 262,334.95 | ||
| STEWARDSHIP ACCOUNT DEFICIT | (30,902.92) | |||||||
| TRANSFER BETWEEN FUNDS | ||||||||
| Release of Expendable endowment | ||||||||
| Rainbow Bookshop closure | ||||||||
| Reimburse from Mission Project | ||||||||
| re: Rental Income (see note 11) | 11,395.26 | (11,395.26) | ||||||
| Transfer of Stewardship Deficit | 30,902.92 | (30,902.92) | ||||||
| NET MOVEMENT IN FUNDS | - - - - | (26,679.38) | 16,832.55 | (36,344.23) | (46,191.06) | 262,334.95 | ||
| BALANCES BROUGHT FORWARD | - - - - | 668,080.00 | 23,120.97 | 1,175,973.14 | 1,867,174.11 | 1,867,174.11 | ||
| at 1 JANUARY 2024 | ||||||||
| BALANCES CARRIED FORWARD | - - - - | 641,400.62 | 39,953.52 | 1,139,628.91 | 1,820,983.05 | 1,867,174.11 | ||
| at 31 DECEMBER 2024 |
11
The Parish of Swindon New Town BALANCE SHEET AT 31 DECEMBER 2024 NOTES ASSETS 2024 2023 FED ASSETS TAJ4GIBLE Property Eouipnnt 7U078.04 791418.04 783,07&04 798,416.04 INVESTMENT Central Board of Flnance Property 458,086.47 S50,000.00 4,4&7.22 550,000.00 l.(.oB&47 1.1100,487.22 CURRENT ASSETS 1.791.16Z51 1.798.903.26 Stock Debtors Prepayments Short Temi Deposits Cash In Hand and at Bank 614.06 21,B22.97 162.17 1076.94 11,470.79 15,021.19 1,831.62 28.146.54 28,079.06 JQ14&95 74.197.52 LILITIEs Accruals 16.32&411 15.926.6n NET CURRENT ASSETS 29.¥20.$4 68.270.85 NET ASSETS £ 1.820,983.05 £ 1,867,174.11 6 FUNDS UNRESTRICTED stevrordshlp Fund CommUnicatnS Fund Property Fund General Purp)se8 Fund Caprial Reven Gains on knve8tmenis 4,14467 4,144.67 299.233.60 30,361.24 158.815.151 3M317.97 30,361.24 3.925.79 320.481.82 354,768.85 Rainbow Fund Mlssion Fund Resources Fund District Miscellaneous Fund5 DIstrt Reserve Fn9 151.71 432.27 30,198.31 160.67 151.71 432.27 9,188.23 160.67 641.400.82 668,080.00 RESTRICTED Dfistrlct Ml8cellaneou8 Fund8 Mi55ion Propct Mission Fund Churchyard Fund 9.627.68 16,61457 13.661.55 10,971.94 11,931.9SI 13,918.98 162.00 39.952 23.120.97 ENDOWMENT Property General Purp)ses Fund Capital - Permanent Max%bell St Fund- Expen(lablE 1,036,627.11 1,049,182.44 7.181.49 7,181.49 26.069.60 7,181.49 95.820.31 103,NJ1.80 33,251.09 93.539.61 126,790.70 Gains on kn¥est¢S 1.139,628.91 £ 1,820,9B3.05 1,175,973.14 t 1.867.174.11 Apwoved ty the Par(#thlal Church c(ncl on 17th March 2025 and shJned on s behalf lry.. Ajastar L Steek.Davi5 Chairman) John F Bishop IHon Trea5urerl 12
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
1 ACCOUNTING POLICIES
BASIS OF PREPARATION
The financial statements of the charity have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The trust constitutes a public benefit entity as defined by FRS 102. The charity is a Parochial Church Council, which is a body corporate (as provided for the Parochial Church Councils (Powers) Measure 1956). It is not incorporated under the Companies Act. The registered office address and the nature of the charity’s operations and principal activities of the charity are given in the trustees report.
The financial statements are prepared in sterling which is the functional currency of the charity.
There are no significant areas of judgements or key sources of estimation uncertainty.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
Exemption from preparing a cash flow statement
The charity has taken exemption from preparing a cash flow statement under the charities SORP (FRS 102), as the charity constitutes a small charity.
FUNDS
General Funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. These funds include funds designated for a particular purpose by the PCC.
The accounts include transactions, assets and liabilities for which the PCC are held responsible. They do not include the accounts of church groups that owe an affiliation to another body nor those that are informal gatherings of church members.
The Unrestricted fund has been shown divided between the Parish Stewardship Account, the Rainbow Bookshop Account and those Funds that are Designated for other purposes. Any designated fund can be re-designated, hence it being Unrestricted in its use; see note 11 re Funds.
District Miscellaneous Funds, with the exception of those that have a restriction placed on them as to their use, e.g. the Flower Funds, are shown as Designated, Unrestricted Funds. The Flower Funds being Restricted Funds.
Certain Investments are in the form of Trusts, and whilst the PCC receives income from these investments, the Investments are held by the Diocesan Board of Finance - as Custodian Trustee - and are therefore included in the accounts as Endowment funds whose capital cannot be spent. Other Investments are PCC investments and form part of the Designated, Unrestricted Fund.
INCOMING RESOURCES
Income recognition policies
Items of income are recognised and included in the accounts when all of the following criteria are met:
-
The charity has entitlement to the funds;
-
any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity;
-
there is sufficient certainty that receipt of the income is considered probable; and
-
the amount can be measured reliably
-
For legacies, entitlement is taken as the earlier of:
-
the date on which the charity is aware that probate has been granted;
-
the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution of the estate will be made; or
-
when a distribution is received from the estate
Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
13
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
ACCOUNTING POLICIES continued
Fundraising is accounted for gross. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably, if entitlement is not met then these amounts are deferred.
APPLICATION of EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
FIXED ASSETS
Consecrated land and buildings and moveable church furnishings
Consecrated and beneficed property is excluded from the accounts by s.96(2)(a) of the Charities Act 1993. No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal, since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or not, is written off.
Other land and buildings
Until 2005 other land and buildings held on behalf of the PCC was valued at purchase value. Since then, depreciation is charged on functional property only, based on buildings value only, against such properties over 50 years, but any expenditure on maintenance or improvement is written off as incurred.
Other fixture, fittings and office equipment
Individual items with a purchase price of £1,500 or less are written off in the period in which the asset is acquired.
Investments
Investment Property
The property comprises the land and the construction of a Church car park at the rear of 94 Kent Road. From 2012 non-functional property (not for general Church use) has been transferred to Investment Property (see note 4b).
Our functional and investment properties were revalued during the year as follows:
3 Briar Fields at £396,000
94 Kent Road at £371,000.
121 Victoria Road at £160,000
6 Grosvenor Road at £390,000
Other investments
These are valued at market value at 31 December.
Current Assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors. A provision is made for amounts that may prove uncollectable.
Short-term deposits include cash held on deposit either with the Central Board of Finance or the bank. Stocks are valued at the lower of cost and net realisable value.
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
STAFFING
The Parish benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with accounting standards, the economic contribution of general volunteers is not measured in the accounts
During the year the Parish employed 8 persons: the Parish Administrator, a project worker. 4 Cleaners,, a Director of Music and a Gardener, none earning more than £60,000 pa. The holiday and accounting years cover the same period of time; therefore there is no accrual for holiday pay.
TRUSTEES
Total donations of £27,600 were received from Trustees via the Planned Giving or Gift Aid schemes. These donations were given without conditions.
Trustees may also have donated via Church Plate Collections. These donations are not recorded separately.
The Trustees are not remunerated by the charity. There were no Trustees' expenses paid neither for the year. ended 31 December 2024 nor for the year ended 31 December 2023. The charity purchased services of £3,386.20 from Steele Davis Ltd, a company in which the trustee, Sandy Steele-Davis, is shareholder and director. All transactions are made at arm’s length, quotations are obtained from other companies, and Sandy. Steele-Davis is not involved in the decision to appoint Steele Davis Ltd.
The trustees are considered to be the key management personnel of the charity. Remuneration to key management personnel was nil.
14
NOTES TO FINANCIAL STATEMENTS
For the year ended 31 December 2024
| Unrestricted | Restricted | Endowment | TOTAL FUNDS | TOTAL FUNDS | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | ||||||
| Stewardship | Rainbow | Other | ||||||||
| £ | £ | £ | £ | £ | £ | |||||
| 2 | INCOME AND ENDOWMENT FROM: | |||||||||
| 2a | Donations and Legacies | |||||||||
| Planned Giving | 62,693.28 | 62,693.28 | 57,010.63 | |||||||
| Income Tax recoverable on Gift Aid | 17,478.18 | 17,478.18 | 16,360.60 | |||||||
| Mission Giving | 301.98 | 301.98 | 1,082.65 | |||||||
| Collections | 18,564.59 | 18,564.59 | 15,328.50 | |||||||
| Legacies | 23,130.00 | 396.00 | 23,526.00 | 10,010.00 | ||||||
| Churchyard | 3,010.00 | 3,010.00 | 2,950.00 | |||||||
| Donations | 263.68 | 380.00 | 643.68 | 950.87 | ||||||
| Miscellaneous | 648.00 | |||||||||
| 98,736.05 | 23,393.68 | 4,087.98 | 126,217.71 | 104,341.25 | ||||||
| 2b | Other trading activities | **** | **** | |||||||
| Fund-raising/Special Efforts | 672.75 | 672.75 | 230.00 | |||||||
| District Miscellaneous Funds | 166.00 | 6,907.00 | 7,073.00 | 11,232.10 | ||||||
| Hall Donations | 25,730.00 | 2,583.56 | 28,313.56 | 28,727.31 | ||||||
| Magazine advertising | ||||||||||
| 26,402.75 | 2,749.56 | 6,907.00 | 36,059.31 | 40,189.41 | ||||||
| 2c | Investment and Rents | |||||||||
| Investment & Rental Income 2024 | 23,699.00 | 23,699.00 | 34,199.30 | |||||||
| Interest Bank Accounts & Miscellaneous Income | Interest Bank Accounts & Miscellaneous Income | 35.89 | 35.89 | 81.79 | ||||||
| Repair Trusts | 141.17 | 2,624.82 | 2,765.99 | 2,723.69 | ||||||
| 141.17 | 23,734.89 | 2,624.82 | 26,500.88 | 37,004.78 | ||||||
| 2d | Church activities | |||||||||
| Mission Project | ||||||||||
| Innovation Funding | 51,423.64 | 51,423.64 | 38,646.86 | |||||||
| Grants & Donations | 34,220.00 | 34,220.00 | 1,000.00 | |||||||
| Heating Grant | 2,473.26 | |||||||||
| Magazine donations | ||||||||||
| Fees | 1,227.00 | 1,227.00 | 1,520.00 | |||||||
| Rainbow Bookshop | 17,360.07 | |||||||||
| 1,227.00 | 85,643.64 | 86,870.64 | 61,000.19 | |||||||
| 2e | Other Income | |||||||||
| TOTAL INCOME & ENDOWMENTS | 126,506.97 | 49,878.13 | 99,263.44 | 275,648.54 | 242,535.63 | |||||
| COMPARATIVE FOR PREVIOUS YEAR | 110,545.00 | 17,360.07 | 49,002.85 | 65,627.71 | 242,535.63 |
There were no unfulfilled conditions and other contingencies attaching to grants that have been recognised in income; and the charity has not directly benefitted from any other forms of government assistance
NOTES TO FINANCIAL STATEMENTS
For the year ended 31 December 2024
| Unrestricted | Restricted | Endowment | TOTAL FUNDS | TOTAL FUNDS | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | ||||||||
| Stewardship | Rainbow | Other | ||||||||||
| £ | £ | £ | £ | £ | £ | £ | ||||||
| 3 | EXPENDITURE ON: | |||||||||||
| 3a | Raising Funds | |||||||||||
| Stewardship Envelopes | 190.09 | 190.09 | 198.49 | |||||||||
| 190.09 | 190.09 | 198.49 | ||||||||||
| 3b | Church Activities | |||||||||||
| Mission Giving | 559.41 | 559.41 | 1,043.33 | |||||||||
| Ministry:Parish Share | 96,000.00 | 96,000.00 | 96,000.00 | |||||||||
| Clergy & Staff Expenses | Clergy & Staff Expenses | 1,263.94 | 3,931.33 | 5,195.27 | 1,748.85 | |||||||
| Church: Heating | 8,342.11 | 8,342.11 | 13,997.89 | |||||||||
| Lighting | 4,920.45 | 4,920.45 | 4,875.85 | |||||||||
| Insurance/Rates | 951.25 | 8,711.30 | 9,662.55 | 7,043.34 | ||||||||
| Repairs | 4,434.68 | 1,692.36 | 6,127.04 | 3,810.27 | ||||||||
| Altar Reqs | 3,090.82 | 3,090.82 | 1,223.65 | |||||||||
| Music Tuning & Organist Expenses | Music Tuning & Organist Expenses | 8,441.20 | 8,441.20 | 6,903.84 | ||||||||
| S. Mark's Organist Salary | 6,043.14 | 6,043.14 | 8,139.99 | |||||||||
| Hall: Heating |
3,931.58 | 3,931.58 | 3,856.94 | |||||||||
| Lighting | 1,113.64 | 1,113.64 | 2,039.07 | |||||||||
| Insurance/Rates | 679.22 | 679.22 | 607.02 | |||||||||
| Cleaning: | : Materials | 1,735.19 | 1,735.19 | 924.50 | ||||||||
| Repairs | : Salaries | 7,077.33 4,283.51 |
1,643.19 | 932.46 | 8,720.52 5,215.97 |
9,057.00 3,279.81 |
||||||
| Churchyard - non restricted | 874.50 | 874.50 | 857.88 | |||||||||
| Printing & Stationery | 3,909.34 | 3,909.34 | 3,272.07 | |||||||||
| Sunday School / Junior Church | 71.63 | |||||||||||
| Miscellaneous | 127.90 | 495.44 | 623.34 | 1,879.47 | ||||||||
| Communications - Web Site | 365.00 | 365.00 | 360.00 | |||||||||
| Churchyard: | : Expenses : Salaries |
3,122.28 | 3,122.28 | 2,976.00 | ||||||||
| Fire Protection/Health & Safety | Explanatory Note re Rainbow closure | 1,013.82 | 1,013.82 | 1,003.50 | ||||||||
| Rainbow Bookshop | : Cost of Sales | Net Debtor/Creditor 2023 4,579.07 | 24,647.49 | |||||||||
| : Running Costs | Balance 2023 2,573.91 | Balance 2023 2,573.91 | 3,633.39 | |||||||||
| : Salaries | Less: Bank Account closure (1.839.62) | 9,969.40 | ||||||||||
| Event Costs | - Closing costs | 5,313.36 | 5,313.36 684.00 |
5,313.36 684.00 |
268.32 | |||||||
| S. Aldhelm's Centre Running Costs | 8,792.94 | 8,792.94 | 8,549.76 | |||||||||
| Advertising | 283.14 | |||||||||||
| Parish Office Costs | 439.32 | 439.32 | 362.13 | |||||||||
| Parish Office Salaries | 8,203.95 | 8,203.95 | 7,017.31 | |||||||||
| Mission Project | ||||||||||||
| Expenses | 21,812.06 | 21,812.06 | 7,354.06 | |||||||||
| Salaries | 33,150.00 | 33,150.00 | 23,451.40 | |||||||||
| Employer's Pension Contribution | 739.80 | 739.80 | 515.85 | |||||||||
| Subscriptions | 858.50 | 858.50 | 1,529.60 | |||||||||
| District Miscellaneous & Reserve Funds | 2,285.92 | 9,027.26 | 11,313.18 | 18,794.24 | ||||||||
| Parish Capital Projects/Architects Fees | 16,909.24 | 26,069.60 | 42,978.84 | 164,116.51 | ||||||||
| Bank Charges | 73.00 | 73.00 | 89.59 | |||||||||
| Hospitality | 986.45 | 986.45 | 939.64 | |||||||||
| Office Equipment | 1069.83 | |||||||||||
| Independent Examination Charge | 2,520.00 | 2,520.00 | 2,340.00 | |||||||||
| 157,219.80 | 63,226.76 | 71,035.63 | 26,069.60 | 317,551.79 | 449,903.56 | |||||||
| 3c | Other Expenditure | |||||||||||
| Non Church Property Costs | 8,874.57 | 8,874.57 | 2,498.65 | |||||||||
| 8,874.57 | 8,874.57 | 2,498.65 | ||||||||||
| TOTAL EXPENDITURE | 157,409.89 | 72,101.33 | 71,035.63 | 26,069.60 | 326,616.45 | 452,600.70 | ||||||
| COMPARATIVE FOR PREVIOUS YEAR | 156,204.35 | 38,250.28 | 52,601.62 | 49,624.20 | 155,920.25 | 452,600.70 |
16
NOTES TO FINANCIAL STATEMENTS
For the year ended 31 December 2024
| **4a ** | TANGIBLE FIXED ASSETS FOR USE BY PCC | TANGIBLE FIXED ASSETS FOR USE BY PCC | PROPERTY | PRINTER | P/COPIERS | EQUIPMENT | TOTAL | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Book Value | At 1 January 2024 | At 1 January 2024 | 798,416.04 | 6,208.41 | 7,863.32 | 4,006.29 | 798,416.04 | |||||
| Additions/(Disposals) | (6,208.41) | (7,863.32) | (4,006.29) | (18,078.02) | ||||||||
| Transfer from Investments | 767,000.00 | 767,000.00 | ||||||||||
| At 31 December 2024 | 1,565,416.04 | - - - - | - - - - | - - - - | 1,547,338.02 | |||||||
| Depreciation | At 1 January 2024 | At 1 January 2024 | 6,208.41 | 7,863.32 | 4,006.29 | 18,078.02 | ||||||
| Disposal | (6,208.41) | (7,863.32) | (4,006.29) | (18,078.02) | ||||||||
| Charge for Year | 15,340.00 | 15,340.00 | ||||||||||
| At 31 December 2024 | 15,340.00 | - - - - | - - - - | - - - - | 15,340.00 | |||||||
| Net Book Value | At 31 December 2024 | 1,550,076.04 | - - - - | - - - - | - - - - | 1,531,998.02 | ||||||
| At 31 December 2023 | 798,416.04 | 6,208.41 | 7,863.32 | 4,006.29 | 798,416.04 | |||||||
| **4b ** | INVESTMENT FIXED ASSETS FOR USE BY PCC | UNRESTRICTED FUND | ENDOWMENT FUND | TOTAL | ||||||||
| 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |||||||
| CENTRAL BOARD of FINANCE | £ | £ | £ | £ | £ | £ | ||||||
| Value 1 January 2024 | 350,843.06 | 311,678.75 | 99,644.16 | 91,075.45 | 450,487.22 | 402,754.20 | ||||||
| Additions/(Disposals) | (12,517.60) | (12,517.60) | ||||||||||
| Unrealised Gain/(Loss) | 17,836.15 | 39,164.31 | 2,280.70 | 8,568.71 | 20,116.85 | 47,733.02 | ||||||
| Value 31 December 2024 | A | 1 | 356,161.61 | 350,843.06 2 | 101,924.86 | 99,644.16 | 458,086.47 | 450,487.22 | ||||
| INVESTMENT PROPERTY | ||||||||||||
| 121 Victoria Road | 160,000.00 | 160,000.00 | 160,000.00 | 160,000.00 | ||||||||
| 6 Grosvenor Road | 390,000.00 | 390,000.00 | 390,000.00 | 390,000.00 | ||||||||
| Value 31 December 2024 | B | 160,000.00 | 160,000.00 | 390,000.00 | 390,000.00 | 550,000.00 | 550,000.00 | |||||
| Total Investment Fixed Assets | A-B | 516,161.61 | 510,843.06 | 491,924.86 | 489,644.16 | 1,008,086.47 | 1,000,487.22 | |||||
| 1 = 5,674.7790 | 1 = 5,674.7790 | 1 = 5,875.41 | 2 = 4,408.00 | 2 = 4,408.00 | ||||||||
| 356161.615 @6276.22 |
@6276.22 | @5,971.38 | @ 2,312.27p | @ 2,260.53p | ||||||||
| 5 ANALYSIS OF NET ASSETS BY FUND | 5 ANALYSIS OF NET ASSETS BY FUND | UNRESTRICTED FUND | RESTRICTED FUND | ENDOWMENT FUND | TOTAL | |||||||
| 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |||||
| Fixed Assets | 652,610.54 | 650,076.66 | 1,138,551.97 | 1,148,826.60 | 1,791,162.51 | 1,798,903.26 | ||||||
| Current Assets | -4,883.51 | 23,930.01 | 39,953.52 23,120.97 |
1,076.94 | 27,146.54 | 36,146.95 | 74,197.52 | |||||
| Current Liabilities | -6,326.41 | -5,926.67 | -6,326.41 | -5,926.67 | ||||||||
| Fund Balance | 641,400.62 | 668,080.00 | 39,953.52 23,120.97 |
1,139,628.91 | 1,175,973.14 | 1,820,983.05 | 1,867,174.11 | |||||
| 6 | DEBTORS | |||||||||||
| Property Rent | ||||||||||||
| Tax Refund | ||||||||||||
| Other | Debtors PCC Only | 21,822.97 | 15,021.19 | |||||||||
| 21,822.97 | 15,021.19 | |||||||||||
| 7 | PREPAYMENTS | |||||||||||
| Other | 162.17 | Inter Acc | 1,831.62 | |||||||||
| 162.17 | Not Included | 1,831.62 | ||||||||||
| 8 | CREDITORS | |||||||||||
| Independent Examination | 2,520.00 | 2,340.00 | ||||||||||
| Accruals and deferred Income | Creditors PCC only | 3,806.41 | 3,586.67 | |||||||||
| 6,326.41 | 5,926.67 | |||||||||||
| 9 | RAINBOW BOOKSHOP | |||||||||||
| Sales | 17,360.07 | |||||||||||
| Less: Cost of Sales | (24,647.49) | |||||||||||
| Surplus before Expenses | (7,287.42) | |||||||||||
| Grants | ||||||||||||
| Less: Expenses & Depreciation | (13,602.79) | |||||||||||
| Surplus | (20,890.21) | |||||||||||
| **10 ** | STAFF COSTS | |||||||||||
| Salaries | 59,239.89 | 60,611.10 | ||||||||||
| Employer's Pension Contribution | 739.80 | 515.85 | ||||||||||
| 59,979.69 | 61,126.95 |
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11 Funds that exist within the Parish
Unrestricted—undesignated funds. This is the Stewardship Account, and the PCC’s policy is for it to balance, with any deficits coming firstly from any District Reserve funds , secondly from any unrestricted Legacy or B ring and Buy Funds , and then finally from the General Purpose Fund. If the Stewardship Account is in surplus at year-end the amount of the surplus is first used to contribute towards any Capital Projects paid for by the GP Fund in that District and any remaining balance is then transferred to the District Reserve Fund for the district or districts in which the surplus occurred.
Unrestricted—designated funds. These are funds that have been designated by the PCC or by a DCC for a particular purpose. Any such designation can be changed by subsequent action of the designating body or its successors. As a rule these funds cannot be overdrawn. If they are, the General Purposes Fund/Parish Reserve has sufficient funds to make good any losses until such time as the fund returns to a balanced state.
Communications Fund: This has been set up in response to a need for a fund that can be used to provide communications within the Parish and beyond. Expenses will be budgeted for in order to provide a fund which will last for a number of years. The source of its income has come from the estimate of tax refund claimable in the period April 6[th] to December 31[st] 2015.
Property Fund: This represents the value at cost of the following properties managed by the PCC as Managing Trustees, the Deeds of which are held by the Diocese of Bristol as Custodian Trustees: a 1/3[rd] share in 121 Victoria Road and a 35.16% share in S. Luke’s Vicarage.
General Purposes Fund : This fund, formerly known as the Parish Reserve Fund, is split into three parts:
Revenue: This has been set up to handle those costs that are not deemed part of the Stewardship Account (day-to-day running costs) and to enable large amounts of Capital Expenditure to be incurred without the need for fund-raising. It also receives income from Rent and Investments that are not restricted as to their use in any way.
Capital : This was set up by the PCC in 1995 to provide for an investment to be made with the Central Board of Finance (CBF) of the Church of England.
Gains on Investments: This represents the accumulated unrealised gains made on the PCC's investments in the CBF.
Rainbow Fund: The Rainbow Bookshop Fund was closed during the year.
Mission Fund: This fund ceased operating during the year.
Resources Fund : This Fund provides funds to maintain book and audio-visual resources for the Resource Centre for lending.
District Miscellaneous Funds : These funds are maintained by the District Church Councils and include the following: Bring & Buy, Social and Legacy Funds where the Legacy has no restriction placed upon it.
Restricted funds: These funds have been set up as a result of donations for a specified purpose. These funds, accordingly, cannot be used for any other purpose. As a rule these funds cannot be overdrawn. If they are, the General Purposes Fund will have sufficient funds to make good any losses until such time as the fund returns to a balanced state.
District Miscellaneous Funds : These funds are maintained by the District
Church Councils and include the following where there is a stipulation as to what the income received can be spent on:
Flower Funds : These exist in all three churches to handle donations received for flowers, some in memory of departed loved ones.
Legacy Funds: These exist in all three churches and stipulations have been made as to what the money may be spent on e.g. Fabric etc.
S. Luke’s Hall Refurbishment Fund : This fund exists for the refurbishment of S. Luke’s Church Halls.
Organ Repair Funds : These exist in both S. Mark’s and S. Luke’s Churches.
Churchyard Fund: This fund manages the money given by the local council for the maintenance of S. Mark’s Churchyard.
COLW : This fund was set up in 1997 to handle the monies received and spent in connection with the activities of the Cell of Our Lady of Walsingham; the Parish Priest having been the Cell Superior.
Mission Fund: This fund receives individual charitable donations given for specific purposes.
Mission Project : This was set up during 2023 with funding from the Church of England for three years and is “pulled” via the Diocese of Bristol to meet claims for expenditure. The £11,396.26 transfer between funds relates to funding to cover the loss of rental income on 3 Briar Fields..
Endowment Funds: These funds have been set up because money and/or property have been left to the parish with specific instructions as to how the income gained from the money can be spent or how an asset (usually property) can be retained for continuing use by the Parish. The capital sums cannot be touched without Charity Commissioners’ approval.
Property Fund: This includes the value, at cost, of the 36.4% share in 3 Briar Fields, as part of the Walter Timbrell Bequest and also the value, at cost of 94 Kent Road, as part of the S. Saviour’s Church Land Charity.
General Purposes Fund: This fund, formerly known as the Parish Reserve Fund, is split into two parts:
Capital: This contains the endowment share value and the balance of the funds in the S. Saviour’s Church Land Charity following the purchase of 94 Kent Road (permanent) and the Maxwell Street Trust Fund (expendable).
Gains on Investments: This contains the value of unrealised gains on the Trusts set up, and invested in the Central Board of Finance of the Church of England, by the Diocese from which the Parish derives income.
Note on Investments:
The PCC decided in 2011 that an amount be set aside from the normal revenue streams of the two General Purposes Funds, and Capital Funds were created. These funds are matched by an investment in the CBF Investment and/or Deposit funds. The level of investment in the CBF is equal to the sum of the investment values of the two Capital Funds + the sum of the two Unrealised Gain Funds, as shown on page 2 of the accounts.
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The Parish of Swindon New Town Independent Examiners Report to the Members of the Parochial Church Council of the Parish of Swindon New Town st Accounts for the year ended 31 December 2024 I report to the church trustees on my examination of the accounts of the church for the year ended 31 December 2024 which comprises the Statement of Financial Activities, Balan Sheet and the related notes. Responsibilities and basis of report As the church's trustees you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the church's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Direth'ons given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's ststement Since the church's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants for England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attents'on in connects'on with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records" or 3. the accounts do not comply with the applicable requirements conmIng the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no COnM5 and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. James Gare- FCA, DCh4 Monahans Hermes House Fire Fly Avenue Swindon SN2 2GA Date 6th May 2025 19