2024-12-31-accounts

PAROCHIAL CHURCH COUNCIL

OF THE PARISH OF

ST MARY THE VIRGIN, SHENFIELD

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Charity registration number 1131547

Parochial Church Council of the Parish of St Mary the Virgin, Shenfield

Trustees' Report

Aims and Purposes

The Parochial Church Council of the Parish of St Mary the Virgin, Shenfield (hereafter "the PCC") has the responsibility of co-operating with the Incumbent in promoting in the ecclesiastical Parish and among Church members living in surrounding areas, the whole mission of the Church: pastoral, social and ecumenical.

The PCC is also specifically responsible for the maintenance of the physical Church of St Mary the Virgin, Shenfield (hereafter "St Mary's" or "the Church"). In January 2024 the Revd Canon Darren Barlow took up post as Rector following an interregnum of approaching 18 months.

Objectives and Activities

The PCC is committed to welcoming local people to worship at St Mary's and to become part of our Parish community. The PCC maintains an overview of worship throughout the Parish and makes suggestions on how our services can involve the various groups within the Parish profile. Our services and worship put faith into practice through prayer and scripture, music and the Eucharist.

When planning our activities for the year, the Incumbent and the PCC consider the Charity Commission’s guidance on public benefit and, in particular, the specific guidance for charities on the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our Parish community through:

• worship and prayer

• provision of pastoral care for people living in the Parish

• missionary and outreach work

To facilitate this work it is important that we maintain the fabric of St Mary’s Church.

Achievements and Performance

Worship and Prayer

The PCC is keen to offer a range of services during the week and throughout the year that our community finds both beneficial and spiritually fulfilling.

At the 9.30am Parish Eucharist, the Footsteps creche (led by Debbie Catton) is available for babies and preschool children meeting in the Turner Vestry and Trekkers is available for primary school children meeting in the Triton Vestry. Both groups meet every Sunday other than on the first of the month when we stay together for All Together Worship.

For those seeking a quieter and more reflective environment for worship, there is a weekly 8am Sunday morning service of Holy Communion and on the first Sunday of the month Choral Evensong at 6.30pm. There is also a weekly Thursday service of Holy Communion at 11am.

The ministry team aims to make services welcoming and easy to follow. Church of England published service books together with locally produced booklets ensure that both regular worshippers and

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visitors alike can follow the services and understand the message of the Gospel. The ministry team is keen to share with the congregation the variety and richness of Christian liturgy. Suzanna Brooks, our Director of Music, liaises with the Incumbent to ensure that the music complements the changing themes of the liturgical year. We are seeking to embrace the range of sung worship from the traditional through to the moderately contemporary.

During 2024, in addition to our repeating regular services, the Church also held various other services throughout the liturgical year including Holy Week and Easter, Harvest, two Christingle services, a Candlelit Carol service and 3 very well attended Family Nativity Carol services on Christmas Eve.

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, give thanks for the life of the departed and commend their soul to God’s keeping. In 2024 at St Mary’s we celebrated 45 baptisms (2023: 28) and 2 marriages (2023: 4). Additionally, the ministry team led a total of 15 funeral services: 8 services in Church, 7 services elsewhere and 4 interments of ashes. (2023: 12, 6 and 16 respectively).

We are delighted to welcome both young people (Year 6 and over) and adults to learn more about their faith through Confirmation classes and then affirm their faith fully by being confirmed. 20 people were confirmed in 2024, 11 young people & 9 adults (2023: total 4). At 31 December 2024 there were 505 parishioners on the Church Electoral Roll (2023: 505), 229 of whom are resident in the Parish and 276 outside of the Parish (2023: 227 and 278 respectively). The Electoral Roll will be renewed in March 2025 so the new roll will be approved at the APCM in 2025.

Pastoral Care

The weekly ‘TheLink’ continued to be distributed across the parish in electronic form and the monthly Parish Magazine was available electronically and in printed format. In addition to parish news, those in need as well as departed loved ones are listed, to be remembered and prayed for at services.

Footprints, a parent/carer and toddler group was restarted in September 2023 meeting fortnightly in the Turner Vestry and across the back of the church. Our thanks to the team who enable this important group to operate.

Other groups that usually meet regularly include St Mary's Open Branch (led by Rosemary Eaton) and the Craft Hub (led by Lesley Cook and Debbie Catton). Sadly, the Shenfield Mothers’ Union branch continued to be in abeyance as no leader could be found, however some Shenfield Mothers’ Union members do continue to meet monthly with the Hutton branch.

Mission & Outward Giving

Each year St Mary's supports a number of charities nominated by the Mission and Unity Committee. These comprise of a variety of local, national and international charities. This charitable giving is an expression of our faith at St Mary’s Church. The committees met regularly during 2024 and began the year by revising the list of charities to support for 2024. We have continued to support most of our previous charities from 2023.

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In 2024 a total of £1,806 was raised for the St Mary's nominated charities (2023: £896) . After bank charges of £106 that leaves £1,700 to be allocated to 10 charities resulting in £170 to be allocated to each of the chosen charities for 2024.

In addition, a total of £2,180 (before Gift Aid) was collected on behalf of specific charities in 2024 (2023: £2,153).

==> picture [386 x 137] intentionally omitted <==

----- Start of picture text -----
2024 £ 2023 £
Children's Society (collecting boxes) 349 561
Children’s Society (Christingle) 1,103 640
Christian Aid Coffee Morning 253 226
Crisis (collected in Church in December) 238 148
Mission to Seafarers (Sea Sunday) n/a 74
Norway House 237 504
Total collected on behalf of specific charities 2,180 2,153
----- End of picture text -----

All of the above figures are stated before any Gift Aid that the recipient charities may reclaim.

The Christmas Bazaar held in 2024 was a success raising £3.0k, and this money was put towards Church funds for 2024 (2023: £2.1k)

Members of the congregation also volunteer directly with Brentwood Street Pastors, Brentwood Foodbank, Mothers’ Union, foodbank.community and Hutton & Shenfield Union Church, Community Food Pantry amongst other charities.

Financial Review

Income

Total income in 2024 was £175k (2023: £149k), representing an increase of £26k. One legacy totalling £1,000 was received in 2024 (2023: £11,352).

The Parish Giving Scheme (PGS) continues to be the most popular method of giving, as it is convenient, commission-free, and enables Gift Aid to be automatically added. Total income from the PGS totalled £71k in 2024 (an increase of 4.2% on £68k in 2023), and there was strong growth in the number of givers enrolled on the scheme (145 in December 2024 versus 104 in 2023).

GoodBox contactless giving is also an important source of income, allowing the congregation to give by card during or after the service. In 2024, we received £10.7k through GoodBox, a very significant increase of 252% over £3.0k in the previous year.

Weekly collections and donations were higher than in the prior year at £30k (2023: £10k). The focus has been to continue to encourage giving via the Parish Giving Scheme during 2024.

Fee income relating to fees from weddings, funerals and baptisms increased this year and totalled £7k (2023: £6k).

Investment income has increased to £25k in 2024 (2023: £22k).

During 2024 a successful Organ repair fund campaign was run and we received £27k of donations, of which £20k was a grant from the Henry E Bass Fund for the maintenance of Pipe Organs. The important organ repairs were successfully carried out during 2024 which should extend the life of

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the organ further, enabling future generations to enjoy the music in the church for many years to come.

Expenditure

As a result of a number of factors, total expenditure in 2024 increased to £194k compared to £191k in 2023. Of this, our biggest cost was Parish Share at £100k (2023: £121k). The amount paid to the Diocese was 79% of our budgeted share request (2023: 100%), resulting in an underpayment to the Diocese of £26.0k (2023: nil underpayment).

However, we needed to meet the £100k by transferring funds from the Lewis Fund to the General Fund. In 2024, £20k was transferred from the Lewis Fund in order to fulfil the payments made to the Diocese in the year.

The Parish Share calculation was revised following a period of consultation by the Diocese commencing in 2023. The Parish Share is calculated at the Deanery level and then allocated to the respective Parishes. St Mary’s Share request for 2024 is as follows:

	2025 share request £	2024 share request £
Total Parish share request1	130,866	125,953

The increase in expenditure in non-Parish share costs to £93k in 2024 is partly as a result of some large repair and maintenance including the Organ and the Bell Tower work during 2024. There is also a general increase in costs experienced during 2024’s high inflationary environment. The PCC have also maintained a strong focus on expenditure in light of the fall of income in recent years.

Church Office & Admin costs have decreased to £2.2k (2023: £6.1k). Prior to 2019 our banking services from Barclays were always free of charge but in 2019 they began charging for their services and in 2024 charged the Church £0.6k (2023: £0.5k).

Church Running costs have increased to £33k (2023: £30k).

Net income and other gains & losses

Net expenditure before transfers and unrealised investment profits was £19k (2023: net expenditure of £42k).

The investment portfolio made an unrealised gain in 2024 of £10k (2023: investment gain of £25k).

Reserves

A full breakdown of the movement in Reserves in the year and the position as at 31 December 2024 can be seen in Note 12 (Statement of Funds).

Some of our historic reserves, such as the Fabric and Churchyard Funds, have been depleted by expenditure over the past few years. To avoid further depleting the Lewis Fund, it is advisable to fundraise for specific planned expenses such as landscaping the Garden of Remembrance, Church and Churchyard repairs, and replacing old or outdated items.

1 Amount can be reduced by 1% if Parish pays in full by monthly Direct Debit

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Structure, Governance and Management

The PCC is responsible for making decisions on all matters of general concern and importance to the Parish, including deciding on how the PCC funds are to be spent.

The full PCC meets five times a year. Given its wide responsibilities, the PCC has a number of committees, each of which may deal with a particular aspect of Parish life. These committees are all responsible to the PCC and report back to it regularly, with reports of their discussions being received by the full PCC and discussed as necessary.

In addition to these meetings, the Church Representation Rules require that an Annual Parochial Church Meeting (APCM) be held before 31 May each year. All members registered on the Electoral Roll are entitled to attend.

At the APCM, the financial accounts and other reports on the business of the Parish are presented to the attendees. Attendees are also asked to vote on the appointment of PCC members for the 12 month period until the next APCM.

Appointment of PCC members

The method of appointment of PCC members is set out in the Church Representation Rules. The membership of Shenfield PCC comprises a number of ex officio appointments plus 12 elected members.

The ex officio members, who are automatically PCC members as a result of the office they hold, include clergy (the Rector) and Lay ministers licenced to the parish, Churchwardens and Deanery Synod elected lay representatives. With the exception of the incumbent and any licenced Lay Ministers, these officers are elected or re-elected to their posts at the APCM; annually for Churchwardens, and every 3 years for the Deanery Synod Lay representatives.

Deputy churchwardens, appointed to assist the Churchwardens with their duties, are not ex officio members under the Church Representation Rules. However they may, if they choose, stand for election as an elected PCC member.

The 14 elected PCC members must all have communicated in the Parish Church at least 3 times in the previous year and be on the Electoral Roll of the Parish. Individuals must first be nominated for election to the PCC by a proposer and a seconder. If there are 10 nominees or fewer, the attendees of the APCM will be asked to vote by a show of hands to elect these nominees to the PCC. In the event that there are more than 10 nominees, a formal vote will be taken.

Deanery Synod

5 elected lay members of the PCC, plus the Rector, sat on the Deanery Synod during 2024 (2023: 7). This provides the PCC with an important link between the Parish and the wider structures of the Church.

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Adminirtrative information St Mary's Church is situated on Hall Lane, Shenfield. It is part of the Diocese of Chelmsford within the Church of England. The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2020) and a charity registered with the Charity Commission (registration number 1131547). The following PCC members served during the financial year to 31 December 2024 and until the date that this Report was approved: ce &la Revd Canon Darren Barlow ministers Rector Ex Officio member James Anderson Edna Grimble Paul Betts Pauline Sweetingham lan Eaton Andrew Barton Churchwarden PCC Vice Chair I Churchwarden l Deanery Synod Deanery Synod l Lay Minister Deanery Synod Deanery Synod (from 2023 APCM) Deanery Synod I Chair of Trustees of MEAAT ecte members Paul Bradbury John Bridger Bill Hindley Richard Walton Rachel Patel Suzanna Brooks Linda Ward Judith Gupta Sarah Barlow Mary Roder Deborah Catton Paul Jones Treasurer Fabric Officer Tree Officer PCC Secretary Chair of St Marfs School Governors I Communications Director of Music I Safeguarding Officer Land Officer Children's Ministry Health and Safety Officer Approved by the PCC on 6 April 2025 and signed on their behalf by the Reverend Canon Darren Barlow (PCC Chair)

PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

INCOME FROM: Donations and Legacies 2a Charitable Activities 2b Other Trading Activities 2c Investments 2d TOTAL EXPENDITURE ON: Raising Funds 3a Charitable Activities 3b TOTAL Net (expenditure)/income before transfers Transfers between funds 5 Net (expenditure)/income after transfers Other recognised gains/(losses): Unrealised gains/(losses) on investments 7 Net movement in funds Total funds brought forward 12 Total funds carried forward 12 Note	2024 Unrestricted £ 107,694 8,392 3,081 10,175 129,342 27 154,861 154,888 (25,546) 13,681 (11,865) 3,284 (8,581) 237,347 228,766	2024 2024 Restricted Endowment £ £ 29,776 - 627 - 280 - 805 14,444 31,488 14,444 - - 38,589 763 38,589 763 (7,101) 13,681 0 (13,681) (7,101) 0 937 6,259 (6,163) 6,259 789,967 374,426 783,804 380,685	2024 Total £ 137,470 9,019 3,361 25,424 175,274 27 194,213 194,240 (18,966) - (18,966) 10,481 (8,485) 1,401,740 1,393,255	2023 Total £ 115,090 8,152 4,249 21,722 149,213 295 191,362 191,657 (42,444) - (42,444) 24,611 (17,833) 1,419,573 1,401,740

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PAROCHIAL CHURCH COUNCIL OF THE RIS YTHEV RGIN SHENFIELD CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 FIXED ASSETS Tangible Assets 664,954 664,954 Investments 607.982 1.272.936 597.501 1,262.455 CURRENT ASSETS Debtors 12,613 27.156 Investments - Deposits 6,830 6.486 Cash at bank and in hand 110.423 129.866 115,528 149,170 LIABILITIES Creditors: amounts falling due within one year 10 {9.547) (9,885) NET CURRENT ASSETS 120,319 139,285 TOTAL NEf ASSErs I I 1,393,255 1,401,740 FUNDS Unrestrfrted 12 228,766 237,347 Restricted 12 783,804 789,967 Endowment 12 380,685 374.426 TOTAL FUNDS ,393,255 1,401,740 Approved by the Parochial Church Council on 6 April 2025 and signed on its behalf br. rf￿1 ,"it7f-,J Reverend Canon D.Barlow Chairman Mrs LM. Grimble ChUrchv￿rden

PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD

NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

1. Accounting policies

a Basis of financial statements

The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with all applicable accounting standards, the Charities Act 2011, and the Charities SORP (FRS 102) effective from 1 January 2015 ("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)").

The financial statements have been prepared under the historical cost convention except for Fixed Assets (Tangible and Investment), 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 which are informal gatherings of church members.

The financial statements have been prepared on the accruals basis of accounting. Therefore all income and expenditure relating to the year is brought into the accounts in the year to which it relates irrespective of the date of payment or receipt.

b Fund accounting

Endowment fund - this relates to the Sustentation Fund, being a separate trust which was established in 1950 to ensure the costs of St Mary's clergy could be met in perpetuity. The capital of this fund must be retained permanently whilst any income derived from the endowment may be transferred to the General Fund, where it is used towards St Mary's Parish Share.

Restricted funds arise either where a donor has restricted the use of their donation by stipulating that it be spent in a certain way, or where funds have been raised specifying that they will be used for a specific activity. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.

Unrestricted funds are income funds which may be spent on the PCC's general purposes. Within unrestricted funds is the Lewis Fund, which was established to hold funds to be directed according to the discretion of St Mary's Churchwardens. Major gifts and legacies that are not otherwise restricted are directed into the Lewis Fund on the assumption that the donor of a large gift would intend for the funds to be used within St Mary's.

c[Income]

Planned giving, collections and similar donations are recognised when received. All incoming resources are accounted for gross.

Tax refunds are accrued on donations received in the year and for which a Gift Aid declaration has been received from the donor.

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.

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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD

NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2024

d Expenditure

Resources expended are accounted for on an accruals basis and are accounted for gross.

e Fixed Assets

Tangible fixed assets

Consecrated and beneficed property of any kind is excluded from the accounts by s.96(2) of the Charities Act 1993.

All expenditure on consecrated or beneficed buildings is written off in the year it is incurred. Similarly expenditure on individual items costing under £5,000 is written off in the year it is incurred.

Depreciation

No depreciation is provided on freehold property as it is the PCC's policy to maintain these assets in a continual state of sound repair. Material freehold property is revalued every 5 years unless circumstances indicate that a revaluation before the end of this period might materially affect the financial statements.

Investments

Investments are stated at market value at the balance sheet date.

f Current Assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less a provision for amounts deemed to be uncollectable.

g Reserves

The Reserves Policy complies with the Charities Commission's best practice guidance "Charities and Reserves". The policy states that a minimum of 3 months' recurring non-discretionary expenditure should be held within free reserves (i.e. in the General Fund within unrestricted funds) at all times to ensure that costs can continue to be met in the short term if there is a sudden drop in income or an unexpected significant expense.

Monthly recurring non-discretionary expenditure has been calculated at £12,000 per calendar month for the current financial year and therefore a minimum of £36,000 is to be held in the General Fund. Any shortfall will be made up with a transfer from the Lewis Fund (also unrestricted).

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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD

NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2024

2 INCOME ALL Unrestricted Restricted Endowment FUNDS INCOME FROM: Funds Funds Funds 2024 £ £ £ £ a Donations and Legacies Planned giving - Gift Aid donations 71,887 17 - 71,904 Planned giving - Tax Recovery 14,493 287 - 14,780 Weekly collections 18,665 - - 18,665 Donations and other gifts 1,649 9,472 - 11,121 Legacies 1,000 - - 1,000 Non-recurring one-off grants - 20,000 - 20,000 107,694 29,776 137,470 b Charitable Activities Fees from weddings, funerals etc 6,513 627 - 7,140 Sale of Parish Magazine & guides 1,879 - - 1,879 8,392 627 - 9,019 c Other Trading Activities Fundraising events: Christmas Bazaar 2,957 - - 2,957 Other events - - - - Other fundraising 124 280 - 404 3,081 280 - 3,361 d Investments CBF investment income 3,493 804 7,164 11,461 M&G investment income 4,151 - 7,280 11,431 CBF deposit income and bank interest 2,332 - - 2,332 Rental income 200 - - 200 10,176 804 14,444 25,424 TOTAL INCOME 129,342 31,488 14,444 175,274

ALL FUNDS 2023 £ 73,294 19,659 6,637 3,388 11,352 760 115,090 6,478 1,674 8,152 2,147 - 2,102 4,249 10,796 10,681 45 200 21,722 149,213

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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD

NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2024

3 EXPENDITURE 3(a) EXPENDITURE ON RAISING FUNDS Stewardship costs Fundraising costs Total Expenditure on Raising Funds	ALL Unrestricted Restricted Endowment FUNDS Funds Funds Funds 2024 £ £ £ £ - - - - 27 - - 27 27 - - 27	ALL FUNDS 2023 £ - 295 295

3(b) EXPENDITURE ON CHARITABLE ACTIVITIES Mission and charitable giving: Donations to nominated charities 275 - - 275 Contributions to Churches Together(1) - - - - 275 - - 275 Ministry: Parish Share 100,000 - - 100,000 Other clergy costs - - 650 650 100,000 - 650 100,650 Other Charitable Activities: Church running costs 33,481 271 - 33,752 Cost of Church services 3,101 589 - 3,690 Church repairs 5,933 23,004 - 28,937 Church Installation - 13,730 - 13,730 Church major structure repairs(2) 6,863 - - 6,863 Church extension - - - - Baptism & children's services 158 307 - 465 Parish magazine costs 972 - - 972 Churchyard upkeep 1,135 688 - 1,823 Church office & admin 2,237 - - 2,237 Rent payable 208 - - 208 Sundry expenses 498 - 113 611 54,586 38,589 113 93,287 Total Expenditure on Charitable Activities 154,861 38,589 763 194,213 TOTAL EXPENDITURE 154,888 38,589 763 194,240

- 40 40 121,058 330 121,388 30,064 5,195 5,247 6,648 6,863 - 1,473 870 6,790 6,065 208 511 69,934 191,362 191,657

(1) Contributions to Churches Together in Hutton & Shenfield and Brentwood Deanery Synod

(2) Bell Tower Structural work (final payment)

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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD

NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2024

4 Staff costs 4(a)Wages and salaries	2024 £ 16,978	2023 £
		15,721

During the year the PCC had 3 employees (2023: 3), namely:

• part-time caretaker

• part-time Director of Music

• part-time Administrative Assistant

4(b) Payments to PCC members

Ministry and travelling expenses are reimbursed to the Rector. None of these expenses related to his role on the PCC.

Other sundry expenses incurred on behalf of the Church, such as photocopier paper and stamps, were reimbursed to the Churchwardens and other PCC members in the year, but all of these expenses were reimbursements of Church costs and not payment for any service.

5 Total transfers between funds Transfers between Funds Investment income from Sustentation Fund	Unrestricted Funds £ 13,681 13,681	Restricted Funds £ -	Endowment Funds £ (13,681) (13,681)

The transfer between the Endowment (Sustentation) Fund to the General Fund relates to the transfer of investment income. Under the terms of the endowment, the net income from the Sustentation Fund may be transferred to General Funds as long as the capital remains within Endowment Funds.

There is also a transfer within Unrestricted Funds to keep the General Fund in line with the Reserves Policy detailed in Note 1(g).

The policy is to hold 3 months' outgoings within the General Fund and a transfer of £19,539 transfer was required from the Lewis fund (unrestricted) in 2024 (2023: £47,863)

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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD

NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2024

6 Tangible Fixed Assets Freehold Land & Buildings Market value at beginning and end of the year Properties owned by the PCC: Church Cottage, 31 Hall Lane Land at end of Garden of Remembrance Land in Alexander Lane Land between Church and Birley Grange	Cost £ - - - 5,954 5,954	2024 £ 664,954 Market Value £ 650,000 5,000 4,000 5,954 664,954	2023 £ 664,954 Revaluation Reserve £ 650,000 5,000 4,000 - 659,000

There is no depreciation charged on any of the Freehold Land & Buildings. Material properties are revalued every 5 years unless circumstances indicate that a revaluation before the end of a 5 year period would have a material effect on the financial statements. The previous revaluation of Church Cottage in September 2020 gave a range of £650k - £675k. The PCC believes it is appropriate to retain the valuation of Church Cottage at £650k.

7 Fixed Assets - Investments Market value at start of year Proceeds of sale of investment Loss on sale of investment Disposals in the year Net unrealised (losses)/gains in the year Market value at end of year Historic cost disclosure: Historic cost at the start of the year Less: disposals in the year Historic cost at the end of the year Net unrealised gains/(losses) on investment assets Net realised gains/(losses) on sale of investment assets Net realised & unrealised gains/(losses) on investment assets	2024 £ 597,501 - - - 10,481 607,982 2024 £ 449,365 - 449,365 10,481 - 10,481	2023 £ 572,890 - - 24,611 597,501 2023 £ 449,365 - 449,365 24,611 - 24,611

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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD

NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2024

8 Debtors

Accrued Gift Aid recoverable - Unrestricted Funds Accrued Income Prepayments Deposits Cost and Market Value at start of year Interest income Cost and Market Value at end of year Creditors falling due within one year Fee creditors Deferred inscription income Accruals Charities Fund disbursements	2024 £ 10,034 2,579 - 12,613 2024 £ 6,486 344 6,830 2024 £ 6,480 1,050 - 2,017 9,547	2023 £ 24,866 1,477 813 27,156 2023 £ 6,286 200 6,486 2023 £ 4,621 3,983 335 946 9,885

9 Deposits

10 Creditors falling due within one year

11 Analysis of Net Assets by Fund

Tangible fixed assets Investment fixed assets Debtors Deposits Cash Creditors Net Assets	Unrestricted Restricted Endowment Funds Funds Funds £ £ £ - 664,954 - 207,592 32,042 368,348 12,613 - - - 3,384 3,446 16,091 85,441 8,891 (7,530) (2,017) - 228,766 783,804 380,685	Total Funds 2024 £ 664,954 607,982 12,613 6,830 110,423 (9,547) 1,393,255

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PAROCHIAL CHURCH COUNCIL OF THE PARISH OF ST. MARY THE VIRGIN, SHENFIELD

NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2024

12 Statement of funds Unrestricted Funds General Fund Lewis Fund Restricted Funds Fabric Fund Extension Fund Churchyard Fund Churchyard: Flowers Memorial Garden Young People Fund Soft Furnishing Fund Bell Fund Choir Fund Charities Fund Flowers Fund Organ Fund Social Fund Fixed Asset Revaluation Endowment Fund Sustentation Fund Total funds

Realised & Bal b/fwd Incoming Resources Transfers unrealised Bal c/fwd 1 Jan 2024 Resources Expended gains/(losses)31 Dec 2024 £ £ £ £ £ £ 36,000 121,669 (154,888) 33,220 - 36,000 201,347 7,674 - (19,539) 3,284 192,766 237,347 129,342 (154,888) 13,681 3,284 228,766 19,067 733 (13,730) - - 6,070 98,163 804 - - 938 99,904 - 918 (406) - - 512 405 500 (282) - - 623 289 - - - - 289 2,269 304 (306) - - 2,267 1,304 - - - - 1,304 1,246 467 (209) - - 1,504 1,438 340 (589) - - 1,189 - 1,937 (1,937) - - - 832 - (60) - - 772 - 27,301 (23,004) - - 4,297 - 118 - - - 118 664,954 - - - - 664,954 789,967 33,421 (40,522) 0 938 783,804 374,426 14,444 (763) (13,681) 6,259 380,685 374,426 14,444 (763) (13,681) 6,259 380,685 1,401,740 177,207 (196,174) - 10,481 1,393,255

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Report to the members of the PCC of SL Mary the Virgin Shenfield (Chanty No. 1131547) On accounts for the year ended 31st D￿rnber 2024 which are attached to this rewt. Respectfve responsibilities of trustees and examlner The Chari￿s tTUStees are responsible for the preparation of the accounts. The charivs trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent exarninatÉon is needed. It is my restx)nsibilty to: examine the accounts under section 145 of the Charities Act. to follow the Pr¢￿edureS laid down in the general Directions given by the Charity Commission (under section 145(5){b) of the Charsties Act. and to state whether pariular matters have come to my attention Basis of independent examlnerfs Statement My examination was carried out in accordance with general Directions given by the Charty Commission. An examination includes a review of the accounting records kept by the charty 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 trustees concerning any such matters. The procedures undertaken do not pThide all the evidence that would be required in an audrt, and consequently no opinion is gNen as to wh8ther the accounts present a 'Ifue and faiff viE44 and the report is limited to those matter8 set out in the statement belryw. Independent examlner's statement In connection with my examination, no Matter has come to my attention 1. which gives me reasonable cause to believe that in any materi81 respect the requirements: to keep accounting records in accordance with section 130 of the Charrties Act.. and . to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met: or 2. to which, in ry opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Slgned: Date: Name ALAN JAKIES WARD Relevant professional qualification Member of the Institute of Chartered Accountants in England and Wales Address: 'Tangletrees' 21 Worrtn Road Shenfield, Essex CM15 8DE