## **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 1 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. 2 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). **----- 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 3 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 4 ## **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. 5 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| |---|---|---|---|---| 7 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. 9 **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). 10 **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| |---|---| 11 **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) 12 **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) 13 **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**| |---|---|---| 14 **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**| |---|---|---| 15 ## **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**| |---|---| 16 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