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← The Parochial Church Council Of The Ecclesiastical Parish Of Tilehurst, St Michael

2024-12-31-accounts

Annual Report and Financial

Statements

Year ended 31 December 2024

St Michael’s Church Tilehurst

1

St Michael’s Church

Annual Report and Financial Statements

Contents

Page
Members of the Parochial Church Council (PCC) and Advisers 3
Report of the Members of the PCC 4
Independent Examiners Report 7
Statement of Financial Activities 8
Balance Sheet 9
Accounting Policies 10 to 11
Notes to Accounts 12 to 16

2

St Michael’s Church

Annual Report and Financial Statements

Members of the Parochial Church Council (PCC) and Advisers

Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM). The names of the members of the Council who have served since the commencement of the 2024 financial year and were members when the accounts were approved:

Rector Reverend Dr. Elizabeth Ratcliffe Curate The Reverend Tracy Watkins Churchwardens Mrs Liz Fagg Mr Mathew Firth Treasurer Mr Patrick Woodlock Secretary Mrs Sarah (Sally) Cairns Deanery Synod Mrs Jane Masson Mr Jack Smee Miss Maxine Elvey Elected Members Mrs Eileen White (From 2021 APCM) Mrs Joan Crossman (From 2021 APCM) Mrs Denise Easteal (From 2021 APCM) Mr Jack Smee (From 2021 APCM) Mr Giles Winter (From 2022 APCM) Mr Peter Shirley-Quirk (From 2022 APCM) Mr David Bardwell (From 2022 APCM) Ms Michelle Hopkins (From 2023 APCM) Mr Graeme Hamilton (From 2023 APCM) Ms Janet Fisher (From 2023 APCM) Mrs Jackie Marsh (From 2023 APCM) Mr David Stevens (From 2023 APCM) Ms Moji Adesokan (From 2024 APCM) Ms Lisa Chamberlin (From 2024 APCM) Mrs Liz Curling (From 2024 APCM) Mrs Patsy Cross (From 2024 APCM)

Bankers Lloyds TSB, Reading Independent examiner Shahzad Niazi 50a London Street Reading RG1 4SQ Investment Advisors CCLA Senator House 85 Queen Victoria Street London EC4V 4ET Charity Commission Number 1131421

3

St Michael’s Church Tilehurst

Trustees' Annual Report

For the year ended 31 December 2024

Aim and purposes

St Michael’s Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent, the Reverend Dr Elizabeth Ratcliffe, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of the Church, the Church Hall and Tilston Lodge.

Objectives and activities

The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St Michael’s. The PCC maintains an overview of worship throughout the parish and wider community and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

When planning our activities for the year, we try to enable people to live out their faith as part of our parish community through:

To facilitate this work it is important that we maintain the fabric of the Church and the Church Hall.

Achievements and performance

Worship and prayer

All are welcome to attend our regular services. At present there are 126 parishioners on the Church Electoral Roll, 69 of whom are not resident within the parish.

As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. Through baptism we thank God for the gift of life, in marriage public vows are exchanged with God's blessing and through funeral services friends and family express their grief and give thanks for the life which is now complete in this world and to commend the person into God's keeping.

4

Church Hall

The Church Hall is used by various local groups and provides the church with valuable income which amounted to £36,178 in the year. This is higher than 2023 of £32,916.

Pastoral care

Some members of our parish are unable to attend church due to sickness or age. Reverend Dr Liz has visited all church members who have requested it, to celebrate communion with them either at their homes or in hospital; this Ministry is supported by authorised church members who offer communion to the housebound.

Mission and evangelism

Our focus has and will continue to be to improve all aspects of our worship in order to encourage new and existing members to benefit from their experience at St Michael’s.

Helping those in need is a demonstration of our faith. The Mission and charitable giving this year was some £6,180.

Our parish magazine is widely distributed and keeps our parishioners informed of the important matters affecting our Church and articles that help develop our knowledge and trust in Jesus.

Financial review

Total receipts on unrestricted funds were £177,215 from voluntary donations, legacy and Gift Aid. Tilston Lodge continues to be let, which provided a net income of £11,773

Unrestricted funds increased by 645,984 to £1,640,013. This increase in unrestricted funds is primarily due to revaluation of the 2 fixed assets of the Church Hall and Tilston Lodge by a total of £656,000. Excluding the assets the unrestricted cash funds actually reduced by £10,016.

Volunteers

We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is.

5

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. The PCC is a Registered Charity with the Charity Commission, registration number 1131421.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. New members receive initial training into the workings of the PCC.

The full PCC met 10 times during the year with an average level of attendance of 70%. Given its wide responsibilities the PCC has a number of committees dealing with particular aspects of parish life. These committees are all responsible to the PCC and report back to it regularly with minutes of their decisions being received by the full PCC and discussed as necessary.

avevewss

Approved by the PCC on 4[th] March 2025

and signed on their behalf by Patrick Woodlock

6

Independent Examiner's Report to the PCC of St Michael’s Church, Tilehurst

I report on the accounts for the year ended 31st December 2024 which are set out on pages 8 to 17.

Respective responsibilities of the PCC and Independent Examiner

As trustees of the charity, the members of the PCC are responsible for the preparation of the accounts. They consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to

Basis of Independent Examiner's Statement

My examination was carried out in accordance with the General Directions given by the Charity Commission.

An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the accounts.

Independent Examiner's Statement

In connection with my examination, no matters have come to my attention

  1. which give me reasonable cause to believe that in any material respect the requirements

  2. to keep accounting records in accordance with s.130 of the 2011 Act; or

  3. to prepare accounts which accord with these accounting records have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Shahzad Niazi Berkshire Accountants Limited Suite 86 105 London Street Reading RG1 4QD

7

St Michael’s Church Tilehurst

Statement of Financial Activities

For the year ended 31 December 2024

Incoming Resources
Notes
Receipts from generated funds:
Voluntary income
2a
Activities for generating funds 2b
Investment income
2c
Total Incoming Resources

Resources Expended
Church activities
3a
Cost of generating
3b
Voluntary income
Governance costs
3c
Total Resources Expended

Net Incoming Resources
Before recognised
Gains and losses

Movements on
Tangible Assets
5a
Gains on investment
Assets
5b
Movement between funds
8
Net Movement of Funds

Balances brought forward
Balances carried forward		 Unrestricted
funds
113,499

12,126
51,587

177,215

177,954
1,096
0

179,050

(1,835)
656,000

0

(8,181)
645,984
 Restricted
funds
145

0
0

145

0

0

0

0

145

0

0

8,181
8,326


 Total

2024

113,644
12,126

51,587

177,360

177,954

1,096

0

179.050
(1,690) (
656,000
0
0
654,310
1,096,207
1,750,517		 Total
2023
134,120
9,665
10,857
187,558
206,646
995
0
207,646
20,083)
(17,000)
2,060
0
(35,023)
1,131,230




1,096,207

8

St Michael’s Church Tilehurst Balance Sheet For the year end 31 December 2024


Notes
Fixed Assets
Tangible
5a

Investments
5b

Current Assets
Cash at bank and in hand
Debtors
6

Liabilities
Creditors –
amounts falling due within one year
7
Net Current Assets

Creditors-
amounts falling due after one year
7
Total Net Assets

Parish Funds
Unrestricted

Restricted
8
Endowment
9
Designated
10
Total Parish Funds
 2024
£
1,421,000
23,962
1,444,962
305,555
0

305,555

0
305,555

0

1,750,517

1,627,799

86,802

23,962

11,954
1,750,517		 2023
£
765,000
21,903
803,903
333,221
0
333,221
2,951
330,270
0
1,134,173
982,218
78,030
23,962
49,963
1,134,173

The notes on pages 12 to 16 form part of these accounts.

These financial statements were approved by the PCC on 3[rd1] March 2025

The Reverend Dr Elizabeth Ratcliffe

The Treasurer Patrick Woodlock

9

St Michael’s Church Tilehurst Statement of Accounting Policies For the year ended 31 December 2024

1 Accounting policies

Basis of 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 Accounting Practice Accounting and Reporting by Charities (SORP 2005).

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 accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of the church.

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 purpose 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 on their pooled investments 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 funds.

Incoming Resources

Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the income resource to which they relate is 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 diocesan parish share expected to be paid over is accounted for when due.

All other expenditure is generally recognised when it is incurred and is accounted for gross.

10

St Michael’s Church Tilehurst Statement of Accounting Policies For the year ended 31 December 2024

Fixed Assets

Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) and (C) of the Charities Act 2011.

Movable church furnishings held by the vicar and churchwarden on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church’s inventory, which can be inspected (at any reasonable time). For anything acquired prior to these accounts there is insufficient cost information available and therefore such assets are not valued in the financial statements. Subsequently no individual item has cost more than £1,000 so all such expenditure has been written off when incurred.

The Church Hall and Tilston Lodge are included in the accounts at historic cost and have not been revalued. Both buildings are being depreciated over 50 years, their expected useful lives, from 2012.

11

St Michael’s Church Tilehurst

Notes to the Financial Statements For the year ended 31 December 2024

2 INCOMING RESOURCES

2 (a)
Voluntary
Income
Planned giving
Tax recoverable
Collections

Donations and
appeals

Fabric & Restorations
Other

church activities


2 (b)
Activities for
Generating
Funds
Spring Fayre
Coffee

Lent lunches
Wednesday lunches
Christmas bazaar
Christmas cards
Sundry
Magazine


2 (c )
Investment
Income
Interest
Dividends
Hall lettings

Rent


Total Funds
 Unrestricted
Restricted
Endowment
Funds
Funds
Funds
£
£
£
34,988

10,423

7,630

4,897

16,810
145

17,259
-

21,492
-

113,499
145

2,198

708

1,356

2,514

2,596

195

2,556

-
-

12,126


2,970

665

36,178

11,773

51,587

177,215
145
 Total
2024
£
34,988
10,423
7,630
4,897
16,955
17,259
21,492
113,644
2,198
708
1,356
2,514
2,596
195
2,556
-
12,126
2,970
665
36,178
11,773
51,587
177,360		 Total
2023
£
36,475
9,731
12,052
33,465
-
10,843
31,549
134,120
1,954
744
1.102
-
3,183
190
1,898
594
9,665
1,970
654
32,916
8,233
43,773
187,558

12

St Michael’s Church Tilehurst

Notes to the Financial Statements For the year ended 31 December 2024

3 RESOURCES EXPENDED

3 (a)
Church activities
Missionary and
Charitable giving
Missionary societies
Other donations

Parish Share

Church running
Expenses

Churchyard
Hall costs

Hall repairs

Depreciation Hall
Church repairs
Clergy and staffing

3 (b)
Cost of
Generating
Funds
Depreciation Tilston
Cost of events


3 (c )
Governance costs
Card services

Blagrave Trust

Examiners Fees

 Unrestricted
Restricted
Endowment
Total
Funds
Funds
Funds
2024
£
£
£
£
4,000
4,000
1,354
1,354
65,554
65,554
40,492
40,492
3,984
3,984
15,601
15,601
2,142
2,142
20,000
20,000
30,605 30,605
14,218 -14,218
197,954 197,954
9,000
9,000
1,096
1,096
10,096
10,096
0
0
0
0
0
0
0
0		 Total
2023
£
4,147
1,666
63,645
68,130
2,881
12,533
1,579
10,000
36,856
15,206
216,643
7,000
995
7,995
0
0
0
0		 Total
2023
£
4,147
1,666
63,645
68,130
2,881
12,533
1,579
10,000
36,856
15,206
216,643
7,000
995
7,995
0
0
0
0
















13

St Michael’s Church Tilehurst Notes to the Financial Statements For the year ended 31 December 2024

4 (a) STAFF COSTS

Wages and salaries 2024
£
11,317		 2023
£
12,672

During the year the PCC employed a church administrator part time but no payments made were large enough to attract social security costs.

4 (b) PAYMENTS TO PCC MEMBERS

No payments or expenses were paid to any PCC Member or persons closely connected to them or related parties.

5 FIXED ASSETS

5 (a) Tangible Assets

Church Hall
£
Cost
31 December 2023
450,000
Disposals
Additions
550,000

Cost 31 December 2024
1,000,000
Depreciation
As at 31 December 2023
0

Charge for year
20,000
As at 31 December 2024
20,000
Net book value
As at 31 December 2024980,000
As at 31 December 2023450,000
5 (b) Investments
Market value as at 1 January 2023
Unrealised Gain

Market value as at 31 December 2024
 Tilston Lodge
£
315,000
135,000

450,000

0

9,000
9,000
441,000

441,000

23,962
0
23,962		 Total
£
765,000
685,000
1,450,000
0
29,000
29,000
1,421,000
765,000

14

St Michael’s Church Tilehurst Notes to the Financial Statements For the year ended 31 December 2024

6 CURRENT ASSETS

Debtors
7 LIABILITIES
Amounts falling due within one year
Creditors
Amounts falling due after one year
Loans
`
8 RESTRICTED FUNDS
Arising from donations:
Bells projects

9 ENDOWMENT FUNDS
Church Pightle
Churchyard Endowment
Bishop Bequest
EF & FH Beard Trust

Total

10 DESIGNATED FUNDS
Designated funds		 2024
£
0
0
2024
£
2,951
0
Brought
Incoming
Forward
Resources
£
£
78,475
145
Brought
Gain
Forward
£
£
2,102
0
4,250
0
2,713
0
14,897
0
23,962
(0)

Brought
Incoming
Forward
Resources
£
£
3,518
8,436
 2023
£
0
0
2023
£
2,951
0
Transfers
Resources
Between Funds
Used
£
£
8,181
0
Dividends
Transfer
£
£
57
(57)
116
(116)
74
(74)
407
(407)

654
(654)

Resources
Carried
Used
Forward
£
£
0
11,954		 Carried
Forward
£
86,802
Carried
Forward
£
2,102
4,250
2,713
14,897
23,962

15

St Michael’s Church Tilehurst Notes to the Financial Statements For the year ended 31 December 2024

11 ANALYSIS OF NET ASSETS BY FUNDS

Tangible assets
Investments
Current assets
Liabilities

 Unrestricted
Funds
£
765,000
-
228,203
(2,951)
990,252		 Restricted
Funds
£
-

-
78,475
-
78,475		 Endowment
Designated
Funds
Funds
£
£

-
-

23,962
-

-
3,518
-
-
23,962
3,518		 Total
£
765,000
23,962
310,196
(2,951)
1,096,207

12 CAPITAL COMMITMENTS

There are no current capital commitments.

13 CONTINGENT LIABILITIES

There were no obligations arising from events occurring before the date of the balance sheet whose existence will be confirmed only by the occurrence of events not wholly within the Church’s control.

14 POST BALANCE SHEET EVENTS

There are no material post balance sheet events that require disclosure.

16