**Charity Number: 1131595** ## **PARISH CHURCH OF ST. MARY-AT-FINCHLEY** **PAROCHIAL CHURCH COUNCIL'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** **PARISH CHURCH OF ST. MARY-AT-FINCHLEY** |**CONTENTS**|Page| |---|---| |Reference and sdministrative details of the P. C. C,. its membership and advisers|1| |Parochial Church Council's Report|2-4| |Independent Examiner's Report|5-6| |Statement of Financial Activities|7| |Balance Sheet|8| |Notes to the Financial Statements|9-22| **PARISH CHURCH OF ST. MARY-AT-FINCHLEY** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE P.C.C., ITS MEMBERSHIP AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025** Parochial Church Council Rev. P. A. Davison, Rector S. Bora, Churchwarden N. Upton, Churchwarden C. Disbrey, Reader N. Wildish, Reader A. O. Makanjuola, Reader P. Bagster, Deanery Synod J. Trevelyan, Elected member K. Ray, Elected member H. Bevan, Elected member A. Stanley, Elected member (retired 27 April 2025) L. Hettrick, Elected member C. Okoye, Elected member P. Pelham- Hazeley, Elected member P. Igoe, Elected member R. Leung, Elected member A. Asantewa-Nkansah, Elected member (appointed 27 April 2025) J. Dunbar, Elected member (appointed 27 April 2025) J. Nettleton. Co-opted P. Boustred, Elected member until 27 April 2025, co-opted 27 May 2025 Charity registered number 1131595 Principal office The Parish Office 26 Hendon Lane Finchley London N3 1TR Secretary A. Asantewa-Nkansah Page 1 **PARISH CHURCH OF ST. MARY-AT-FINCHLEY** ## **PAROCHIAL CHURCH COUNCIL'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025** The Parochial Church Council present their annual report together with the financial statements of the P.C.C. for the year ended 31 December 2025 Objectives and activities a. Policies and objectives The P.C.C.'s objects are:- The provision of public worship open to all. The provision of sacred space for personal prayer and contemplation. Pastoral work including visiting the sick and bereaved. The teaching of Christianity through sermons, courses and small groups. Taking religeous assemblies in schools. The provision of a youth group and toddler group with a Christian ethos. Supporting other charities in the U. K. and overseas. The P.C.C. has the responsibility of co-operating with the clergy in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelical, social and ecumenical. The P.C.C. is also specifically responsible for the maintenance of the church building. In setting objectives and planning for activities, the Parochial Church Council have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance Public Benefit: running a charity (PB2)' b, Grant- making policies The Mission Allocation budget is set by the P.C.C. The allocation of these funds is delegated to the Mission Committee whose recommendations are voted on by the full P.C.C. In addition the parish has regular special collections for specific activities. ## c. Volunteers The P.C.C. would like to thank all volunteers who work so hard to make our church the lively and vibrant community it is. d. Main activities undertaken to further the P.C.C.'s purposes for the public benefit. The principal activity of the P.C.C. is the provision of regular public worship Acheivements and performance. ## a. Main acheivements of the P.C.C. The P.C.C. continued with the Give me Shelter! Church and Churchyard Project. The roof repair and rainwater goods overhaul, the major project component, commenced on-site in April and was awarded a Practical Completion Certificate on 23rd January 2026. The interior of the Church is now dry and noticeably warmer. The churchyard landscaping aspect of the Project continued with the planning application submitted 3rd September. Discussions with the LB Barnet planning case officer are ongoing, with a decision anticipated in Spring 2026, allowing the implementation stage to proceed Summer 2026. Fund raising continued during the year for the interior works to the Church (repairs to plaster and repainting) which is the final phase of the project. Page 2 **PARISH CHURCH OF ST. MARY-AT-FINCHLEY** ## **PAROCHIAL CHURCH COUNCIL'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** The P.C.C. was pleased to report at the end of the year that it had made a significant surplus after committing the full cost of our clergy to the Diocese's Common Fund and donations to missions and charities as usual. Much of this surplus resulted from increases in hall lets following a decision to hire an agency. The P.C.C. has transferred most of this surplus to the Hall Repairs Reserve. This is in order to fund works which will be essential if the hall is to continue to generate the current level of income. ## b. Key performance indicators. The P.C.C.'s key performance indicator is to maintain its level of general unrestricted funds in order that it can continue to meet current liabilities as they fall due. ## c. Review of activities These are detailed in annexed reports. d. Investment policy and performance During the year the portfolio realised net losses of £3,930. The market value of the portfolio at the balance sheet date was £255,365. Investments are managed by CCLA whose investment policy is in accordance with the Church of England's Ethical Advisory Investment Group. Financial Review ## a. Going concern After making appropriate enquiries the Parochial Church Council have a reasonable expectation that the P.C.C. has adequate resources to continue in operational existence for the forseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Structure, governence and management ## a. Constitution. The P.C.C. is a registered charity, number 1131595 and is constituted under a trust deed. It was established by the Parochial Church Councils (Powers) Measures Act 1921, however a parish church has existed on this site for more than 1,000 years prior to this. b. Methods of appointment or election to the Parochial Church Council The majority of P.C.C. members are elected at the Annual Parochial Church Meeting and serve for a maximum of six years. In addition the clergy, churchwardens, readers and Deanery Synod members are ex-officio members. The P. C. C. has the authority to co-opt additional members. The treasurer and the Church Estate Manager have been co-opted. ## c. Organisational structure and decision-making policies. The full P.C.C. usually meets five times each year with additional meetings as required. Given its wide responsibilities the P.C.C. has established a number of committees each dealing with a specific area of parish life. Page 3 PARISH CHURCH OF ST. MARY.AT.FINCHLEY PAROCHIAL CHURCH COUNCIL'S REPORT (coNfiNUKD) FOR THE YEAR ENDED 31 DECEMBER 2025 d. Financial risk tnanagement The Parochial Church Council have assessed the major risks to which the P.C.C. is exposed. in particular those related to the operdtiorls and finances of the P.C.C.. and are satisfied th￿ systems and procedurts are in place to mitigate exFx>sure to the major risks. Statement of Parochial Church Council's ro8ponsibilTties. The Parochial Church Council are responsible for PTeparEng the Parod)iai Church Council's Report a￿d the financial Statements in accordance with applicable law and United Kingdom Ac¢otinting Stsndards (United Kingdom Generally Accepted Accourtting Practice). The law appli￿ble io charities in England & Wales requtres the Paro¢hia] Church Council to prepare financtal statements for each financial year which ￿ve a true and fair view of the swe of affairs of the P.C.C. and of its incoming resources and application of resource& including its incorne and expenditure for that ￿riod. In p￿parIng these financial Ststen￿nt￿ the Parochial Church Council aTe rnjuired to.. select suitable accounting wjlicies and apply them consistently observe the m￿hOdS and prilKiples of the Charities SORP (FRS 102) make judgements and accountirbg estimates that ore reknsonable #nd p￿dent. state whether applicable UK Accounting Stsndard5 (FRS 102} have been follow￿ subject to any material departures disclosed and explained in the financial statements. prepare the financia] statements on a going ronctrn basTS unless Tl is inappropriate to presume that the P.C.C. will continue in business. The Parochial Church Council are ￿5[￿Sible for keeping adwuate accounting records that are Sufficient to show and explain the P.C.C.'s transactions and disclose with reasonable a¢curncy at xny tim¢ the financial position of the P.C.C. cnablc th¢m to cnsur¢ that th¢ financial sialem¢nts comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2(K18 and the provisions of the tntst deed. They are also re5p)nsible for safeguarding the assets of the P.C.C. and hence for takin8 reasonable steps for the prevention and detection of fraud and other irregulariti&s. Approved by the members of the Parochial Church Council on 2 March 2026 and signed on their behalf by.. Rey. P. L D*vlso Pa8e 4 **ST. MARY-AT-FINCHLEY** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025** Independent Examiner's Report to the Parochial Church Council of St. Mary-at-Finchley (the PCC). I report to the Parochial Church Council on my examination of the accounts of the PCC for the year ended 31st December 2025. ## Responsibilities and Basis of Report As the Parochial Church Council of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the PCC's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act. ## Independent Examiner's Statement Since the PCC's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. Your attention is drawn to the fact that the PCC has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice jssued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Principles effective for periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the PCC as required by section 130 of the 2011 Act; or - 2 the accounts do not accord with those records; or - 3 the accounts do not comply with the applicable requirements concerning 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 concerns and have come across no other matters in connection with the examination which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Parochial Church Council as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Parochial Church Council those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume any responsibility to onyone other than the PCC and the Parochial Church Council as a body, for my work or for this report. Page 5 sr. MARY-AT-FINCHLEY INDEPENDEIYT L¥AMINER'S REPORT (CONTINUED) FOR YEAR FNDED I DECEMBER 2025 Signed 29 April 2026 A. Parker FCA 190 Creighton Avenue London N2 9BJ Page 6 **ST. MARY-AT-FINCHLEY** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025** |||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---| |||funds|funds|funds|funds| |||2025|2025|2025|2024| ||Note|£|£|£|£| |**Income from:**|||||| |Donations and legacies|3|128,786|386,893|515,679|216,994| |Charitable activities|4|2,563||2,563|3,540| |Other trading activities|5|131,453||131,453|74,966| |Investments|6|11,708|7,210|18,918|19,534| |||274,510|394,103|668,613|315,034| |**Expenditure on:**|||||| |Raising funds|7|61,027|2,687|63,714|54,252| |Charitable activities|10|193,140|653,344|846,484|224,283| |||254,167|656,031|910,198|278,535| |**Net income/ (expenditure) before net gains/**|||||| |**(losses) on investments**||20,343|(261,928)|(241,585)|36,499| |Net (losses)/ gains on investments||(3,930)||(3,930)|2,230| |Net movement in funds||16,413|(261,928)|(245,515)|38,729| |**Reconciliation of funds**|||||| |Total funds brought forward||322,141|457,081|779,222|740,493| |Net movement in funds||16,413|(261,928)|(245,515)|38,729| |Funds transferred||(70,000)|70,000||| |Total funds carried forward||268,554|265,153|533,707|779,222| Page 7 . MARY.AT.FINCHLEY BALANCE SHEET AS AT 31 DECEMBER 2(125 2025 2024 Note Fix￿1 assets T&ngible assets Invesunents 15 16 I￿.(Mm) 255.365 355,365 I￿.(KN) 539.295 6J9 195 Current assets Debtors Cash at bank and in hand 17 159.927 72.801 232,728 54,386 11,598 140.941 152,539 12.612 credito￿.. amounts r￿lIng due within one year 18 Net eurrent assets 178.342 139,927 Total llet assets 533 707 779 Charity funds Restricted funds Unrestrtcted funds Designated funds General funds Total unrestricted funds 19 265,153 457,081 19 19 19 221.706 46.848 276.464 45,677 268,554 322.141 533.707 779,222 The finanrial staiemenLS were approved and authorised for issue by th¢ Parochi￿ Churth Council on 2 Ma￿h 2026 and signed on their behajfby: Rev P. X D¥vi8oD The notes on pages 9 to 22 forni part of these finartial statements. Page 8 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## 1 General information The P.C.C. is a registered charity, number 1131595 registered in England and Wales ## 2 Accounting policies - 2.1 Basis of preparation of financial statements The financial statements 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), the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) and the Charities Act 2011. 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 provi true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Parish Church of St Mary-at-Finchley meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## 2.2 Going concern Based on their assessment of the twelve months from the date on which the balance sheet was signed, the Parochial Church Council is of the opinion that the P.C.C. is a going concern as it holds significant cash reserves. The accounts have therefore been prepared on the going concern basis. - 2.3 All income is recognised once the P.C.C. has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt,its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. ## 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. Page 9 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** 2 Accounting policies (continued) Expenditure on raising funds includes all expenditure incurred by the P.C.C. to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non- charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the P.C.C.'s objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached are fulfilled. All expenditure is inclusive of irrecoverable VAT. - 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably be the P,C.C. : this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. - 2.6 Tangible fixed assets and depreciation. Tangible fixed assets are initially recognised at cost. After recognution, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred in bringing a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis: Freehold property - not depreciated - 2.7 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, ehether realised or unrealised, are combined and presented as 'Gains/(Losses) on investments in the Statement of Financial Activities. ## 2.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid less any trade discounts due. - 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity three months or less from the date of acquisition or opening of the deposit or similar account. Page 10 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** - 2 Accounting policies (continued) - 2.10 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement and the amount of the settlement can be measured reliably. Liabilities are recognised at the amount that the P.C.C. anticipates it will pay to settle the debt or the amount it has received as advance payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activity as a finance cost. - 2.11 Financial instruments The P.C.C. only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. - 2.12 Pensions The P.C.C. operates a defined contribution pension scheme and the pension charge represents the amounts payable by the P.C.C. to the fund in respect of the year. ## 2.13 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Parochial Church Council in furtherence of the general objectives of the P.C.C. and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Parochial Church Council for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the P.C.C. for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 11 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** 3 Income from donations and legacies |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---| |||funds|funds|funds|funds|funds|funds| |||2025|2025|2025|2024|2024|2024| |||£|£|£|£|£|£| ||Donations|124,586|61,525|186,111|124,789|55,899|180,688| ||Legacies||2,000|2,000|1,000||1,000| ||Grants|4,200|323,368|327,568|4,200|31,106|35,306| |||128,786|386,893|515,679|129,989|87,005|216,994| |4|Charitable activities|||Unrestricted|Total|Unrestricted|Total| |||||funds|funds|funds|funds| |||||2025|2025|2024|2024| |||||£|£|£|£| ||Income from charitable activities- the provision||||||| ||of public worship|||2,563|2,563|3,540|3,540| |5|Income from other trading activities||||||| ||Income from fundraising|events|||||| |||||Unrestricted|Total|Unrestricted|Total| |||||funds|funds|funds|funds| |||||2025|2025|2024|2024| |||||£|£|£|£| ||Fundraising|||4,473|4,473|883|883| ||Income from non-charitable trading activities||||||| |||||Unrestricted|Total|Unrestricted|Total| |||||funds|funds|funds|funds| |||||2025|2025|2024|2024| |||||£|£|£|£| ||Hall letting fees|||114,980|114,980|74,083|74,083| ||Property rental income|||12,000|12,000||| |||||126,980|126,980|74,083|74,083| |6|Investment income||||||| |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |||funds|funds|funds|funds|funds|funds| |||2025|2025|2025|2024|2024|2024| |||£|£|£|£|£|£| ||Investment income|9,990|7,210|17,200|9,624|8,969|18,593| ||Bank deposit interest|1,718||1,718|941||941| |||11,708|7,210|18,918|10,565|8,969|19,534| Page 12 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** 7 Expenditure on raising funds Costs of raising voluntary income |Unrestricted
Restricted
Total Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
2025
2025
2024
2024
2024
£
£
£
£
£
£
Fundraising costs
3,631
3,631
779
779
Roof and churchyard
project- event costs
2,332
2,142
2,142
Concert costs
155
Card collection fees
21
221
3,652
6,339
779
2,142
2,921
Other trading expenses
Unrestricted
Total Unrestricted
Total
funds
funds
funds
funds
2025
2025
2024
2024
£
£
£
£
Hall letting expenses
44,120
44,120
41,658
41,658
Wages and salaries recharged to hall
11,033
11,033
9,673
9,673
Property maintenance and letting fees
2,222
2,222
57,375
57,375
51,331
51,331
8 Analysis of grants
Grants to institutions
Grants to institutions
2025
2024
£
£
Grants. The provision of public worship
19,184
20,902
2,332
155
2,687
200
2025|Unrestricted
Restricted
Total Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
2025
2025
2024
2024
2024
£
£
£
£
£
£
3,631
3,631
779
779
2,332
2,142
2,142
155
21
221
2,332
155
200
2025|Unrestricted
Restricted
Total Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
2025
2025
2024
2024
2024
£
£
£
£
£
£
3,631
3,631
779
779
2,332
2,142
2,142
155
21
221
2,332
155
200
2025|Unrestricted
Restricted
Total Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
2025
2025
2024
2024
2024
£
£
£
£
£
£
3,631
3,631
779
779
2,332
2,142
2,142
155
21
221
2,332
155
200
2025| |---|---|---|---| ||3,652
6,339
779
2,142
2,921
2,687||| |||Unrestricted
Total Unrestricted
Total
funds
funds
funds
funds
2025
2025
2024
2024
£
£
£
£
44,120
44,120
41,658
41,658
11,033
11,033
9,673
9,673
2,222
2,222|| |||57,375
57,375
51,331
51,331|| |||Grants to institutions
Grants
2025
£
19,184|to institutions
2024
£
20,902| Page 13 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** 9 Detailed analysis of grants |Special collections
Good Gifts 2024- Homeless Action in Barnet
Christmas 2024- North London Hospice
Concerts- Royal Free Charity
Funeral- North London Hospice
Funeral- Marie Curie
Funeral- MIND
Children's Society
Lent Project- Dementia UK
Christian Engineers in Development- Butere well
Remembrance- Royal British Legion
Barnet Mencap
Mission Allocation:-
Five Talents
Limapela
Tear Fund- Toilet Twinning
Finchley Foodbank
Embrace the Middle East
Homeless Action in Barnet
North London Hospice
New Citizens' Gateway
Barnet Mencap
USPG
Other:-
St. Mary's School|Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
1,538
1,538
1,090
1,090
2,909
2,909
97
97
5
5
62
62
513
513
962
962
1,226
1,226
149
149
849
849
1,000
1,000
1,000
1,000
500
500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
284
284| |---|---| ||9,784
9,400
19,184| Page 14 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** |Special collections
Good Gifts 2023- Homeless Action in Barnet
Christmas 2023- Noah's Ark Children's Hospice
Concerts- Royal Free Charity
Homeless Action in Barnet
Funeral- Noah's Ark Children's Hospice
Funeral- MIND
Children's Society
Lent Project- St. Francis at the Engine Room
Christian Engineers in Development- Butere well
Remembrance- Royal British Legion
Barnet Mencap
Mission Allocation:-
Five Talents
Limapela
Tear Fund
Finchley Foodbank
Embrace the Middle East
St. Francis at the Engine Room
Welcome Churches
New Citizens' Gateway
Barnet Mencap
USPG
Other:-
St. Mary's School
Tea and coffee donations- Noah's Ark Children's Hospice|Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
2,369
2,369
1,491
1,491
595
595
82
82
85
85
0
420
420
1,460
1,460
0
0
0
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
1,100
2,100
2,100
2,100
2,100
1,100
1,100
1,000
1,000
400
400| |---|---| ||14,400
6,502
20,902| 10 Analysis of expenditure on charitable activities ||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| ||funds|funds|funds|funds|funds|funds| ||2025|2025|2025|2024|2024|2024| ||£|£|£|£|£|£| |The provision of||||||| |public worship|193,140|653,344|846,484|175,397|48,886|224,283| |Summary of expenditure|by type|||||| ||Staff costs|Other costs|Total|Staff costs|Other costs|Total| ||2025|2025|2025|2024|2024|2024| ||£|£|£|£|£|£| |The provision of||||||| |public worship|2,500|843,984|846,484|2,500|221,783|224,283| Page 15 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** 11 Analysis of expenditure by type |||Activities|Grant||Activities|Grant|| |---|---|---|---|---|---|---|---| |||undertaken|funding of|Total|undertaken|funding of|Total| |||directly|activities|funds|directly|activities|funds| |||2025|2025|2025|2024|2024|2024| |||£|£|£|£|£|£| ||The provision of||||||| ||public worship|827,300|19,184|846,484|203,381|20,902|224,283| |12|Analysis of direct costs||||||| ||||||Unrestricted|Restricted|Total| ||||||funds|funds|funds| ||||||2025|2025|2025| ||||||£|£|£| ||General expenditure:-||||||| ||Wages and salaries||||2,288||2,288| ||Pension contributions||||212||212| ||London Diocesan Common Fund||||99,980||99,980| ||Clergy expenses||||2,056||2,056| ||28 Hendon Lane expenditure||||558||558| ||Director of Music and organists||||10,070||10,070| ||Organ scholarships||||1,700||1,700| ||Repairs and renewals||||6,280||6,280| ||Cleaning||||636||636| ||Insurance||||7,000||7,000| ||Gas and electricity||||4,874||4,874| ||Water rates-Church||||344||344| ||Telephone||||504||504| ||Music and choir expenses||||1,537||1,537| ||Organ tuning||||264||264| ||Service costs||||1,839||1,839| ||Printing and stationery||||1,355||1,355| ||Photocopier leasing costs||||1,986||1,986| ||Church flowers||||1,000||1,000| ||Junior Church||||11||| ||Social Committee||||98||| ||General expenses||||881||881| ||Communications||||977||| ||Bank charges||||329||| ||28 Hendon Lane additional works||||18,000||18,000| ||Designated fund expenditure:-||||||| ||28 Hendon Lane additional works||||18,498||18,498| ||Rectory alarms and security||||483||483| ||Rectory repairs||||300||300| ||Rectory water rates||||713||713| ||Restricted fund expenditure:-||||||| ||Roof and churchyard|||||637,886|637,886| ||Night Shelter provisions|||||710|710| ||Concert recharges||||(320)|320|| ||Warm/ cold hubs costs and recharges||||(1,097)|5,028|3,931| ||||||183,356|643,944|825,885| Page 16 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** |||Unrestricted|Restricted|Total| |---|---|---|---|---| |||funds|funds|funds| |||2024|2024|2024| |||£|£|£| ||General expenditure:-|||| ||Wages and salaries|2,327||2,327| ||Pension contributions|173||173| ||London Diocesan Common Fund|91,300||91,300| ||Clergy expenses|2,826||2,826| ||28 Hendon Lane expenditure|1,876||1,876| ||Director of Music and organists|11,344||11,344| ||Organ scholarships|1,600||1,600| ||Repairs and renewals|5,387||5,387| ||Sound system|683||683| ||Cleaning|1,350||1,350| ||Insurance|6,873||6,873| ||Gas and electricity|5,680||5,680| ||Water rates-Church|305||305| ||Telephone|386||386| ||Music and choir expenses|1,184||1,184| ||Organ tuning|709||709| ||Service costs|1,702||1,702| ||Printing and stationery|952||952| ||Photocopier leasing costs|1,986||1,986| ||Church flowers|1,000||1,000| ||General expenses|798||798| ||Bank charges|379||379| ||Designated fund expenditure:-|||| ||Hall building works|17,604||17,604| ||Altar books|330||330| ||Rectory alarms and security|330||330| ||Rectory garden replanting|1,491||1,491| ||Rectory water rates|542||542| ||Restricted fund expenditure:-|||| ||Roof and churchyard||41,904|41,904| ||Night Shelter provisions||360|360| ||Concert recharges|(120)|120|| |||160,997|42,384|203,381| |13|Staff costs|||| ||||2025|2024| ||||£|£| ||Wages and salaries||13,321|12,000| ||Contributions to defined contribution pension schemes||212|173| ||||13,533|12,173| ||The average number of persons employed by the P.C.C. during the year was as follows:|||| ||||2025|2024| ||||No.|No.| ||||1|1| No employee received remuneration amounting to more than £60,000 during the year. Page 17 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** 14 Parochial Church Council's remuneration and expenses During the year no member of the Parochial Church Council received any remuneration or benefits (2024- £NIL) During the year no member of the Parochial Church Council was re-imbursed for expenses (2024- £NIL) 15 Tangible fixed assets |Cost or valuation
At 1 January 2025 and 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
16 Fixed asset investments
Cost or valuation
At 1 January 2025
Disposals
Revaluations
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
17 Debtors
Due within one year
Other debtors
Prepayments and accrued income
18 Creditors: Amounts falling due within one year
Other creditors
Accruals and deferred income
Grants accrued- institutional|Freeehold property
£
100,000
100,000
100,000
Listed investments
£
539,295
(280,000)
(3,930)
255,365
255,365
539,295
2025
2024
£
£
10,850
6,036
149,077
5,562| |---|---| ||159,927
11,598| ||2025
2024
£
£
46,232
1,897
8,154
9,941
774| ||54,386
12,612| Page 18 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** 19 Statement of funds Statement of funds- current year |Unrestricted funds
Designated funds
Fabric fund
Bequests
Hall repairs reserve
Clergy accommodation
fund
Church enhancement
reserve
Open Door
General funds
Church account
Total unrestricted
funds
Restricted funds
Special collections
Night shelter
Hall buildings reserve
Youth choir
Roof and churchyard
project
Music and choir fund
Piano fund
Green and fair
Cartwright memorial
Youth work resources
Warm Hub
Cold Hub
Total of funds|Balance at
Balance at 31
1 January
Transfers
Gains/
December
2025
Income Expenditure
in/out
(Losses)
2025
£
£
£
£
£
£
51,815
6,000
59,141
54,270
(50,000)
6,408
28,287
22,870
52,184
112,689
(19,994)
1,778
(3,930)
93,801
28,518
(20,000)
9,287
885
885
1,326
2,138
1,027
3,258
769| |---|---| ||276,464
(19,994)
(39,352)
(3,930)
221,706
8,518| ||45,677
(234,173)
(30,648)
46,848
265,992| ||322,141
(254,167)
(70,000)
(3,930)
268,554
274,510| ||4,535
(9,578)
(1,090)
4,208
711
(713)
652
100,000
100,000
1,406
1,406
347,401
(640,712)
71,090
153,066
470
470
271
271
214
214
726
726
1,347
1,347
(2,528)
2,793
(2,500)
10,341
654
375,287
5,321
2,500| ||457,081
(656,031)
70,000
0
265,153
394,103| ||779,222
(910,198)
(3,930)
533,707
668,613| Page 19 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** 19 Statement of funds (continued) Statement of funds- prior year |Unrestricted funds
Designated funds
Fabric fund
Bequests
Hall repairs reserve
Clergy accommodation
fund
Church enhancement
reserve
Mission reserve
Open Door
General funds
Church account
Total unrestricted
funds
Restricted funds
Special collections
Night shelter
Hall buildings reserve
Youth choir
Roof and churchyard
project
Music and choir fund
Piano fund
Green and fair
Cartwright memorial
Youth work resources
Total of funds|Balance at
Balance at 31
1 January
Transfers
Gains/
December
2024
Income Expenditure
in/out
(Losses)
2024
£
£
£
£
£
£
45,249
5,000
51,815
52,833
(330)
54,270
44,678
(17,604)
28,287
109,422
(2,363)
2,230
112,689
27,608
28,518
3,000
(3,400)
885
885
1,767
1,213
3,400
910
1,566
400| |---|---| ||283,675
(23,697)
5,000
2,230
276,464
9,256| ||44,683
(203,810)
(5,000)
45,677
209,804| ||328,358
(227,507)
2,230
322,141
219,060| ||3,256
(6,502)
(1,491)
4,535
1,071
(360)
711
100,000
100,000
1,406
1,406
303,374
(44,166)
1,491
347,401
470
470
271
271
214
214
726
726
1,347
1,347
9,272
86,702| ||412,135
(51,028)
0
0
457,081
95,974| ||740,493
(278,535)
2,230
779,222
315,034| Page 20 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** ## 20 Summary of funds Summary of funds current year ||Balance at|||||Balance at 31| |---|---|---|---|---|---|---| ||1 January|||Transfers|Gains/|December| ||2025|Income|Expenditure|in/out|(Losses)|2025| ||£|£|£|£|£|£| |Designated funds|276,464|8,518|(19,994)|(39,352)|(3,930)|221,706| |General funds|45,677|265,992|(234,173)|(30,648)||46,848| |Restricted funds|457,081|394,103|(656,031)|70,000||265,153| ||779,222|668,613|(910,198)|0|(3,930)|533,707| |Summary of funds prior year||||||| ||Balance at|||||Balance at 31| ||1 January|||Transfers|Gains/|December| ||2024|Income|Expenditure|in/out|(Losses)|2024| ||£|£|£|£|£|£| |Designated funds|283,675|9,256|(23,697)|5,000|2,230|276,464| |General funds|44,683|209,804|(203,810)|(5,000)||45,677| |Restricted funds|412,135|95,974|(51,028)|||457,081| ||740,493|315,034|(278,535)|0|2,230|779,222| The principal designated funds of the P,C.C. are:- ## Fabric fund The fabric fund is used for major works to the church which cannot be covered by regular annual income. Where the expected cost of such works is in excess of this fund, the P.C.C. may set up a restricted fund in order to raise additional funds. ## Bequests Legacies are allocated to this fund if there are no conditions attached. The fund pays for areas of expenditure the P.C.C. considers worthwhile but have not been budgeted for. ## Hall repairs reserve This performs a similar function for the church halls as the fabric fund does for the church. ## Clergy accommodation fund This was set up with funds from the sale of a property. The funds have been invested. The income is used to meet costs of the rectory that are not met by the common fund. The fund occasionally funds significant costs in respect of 28 Hendon Lane. Page 21 **ST. MARY-AT-FINCHLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** 20 Summary of funds (continued) Church enhancement reserve This was set up from an exceptional stewardship contribution which has been set aside to pay for current and future special projects. The principal restricted funds of the P.C.C. are:- Special collections These are collections for a specific purpose. They are usually paid out shortly after being received however Good Gifts and Christmas collections are usually received in December and paid out in January. Hall buildings reserve The P.C.C. has free use of the church hall but is not the legal owner of the land. Roof and churchyard fund The P.C.C. is committed to raise funds for major works to the roof, clock tower and churhyard. The tower works were completed in 2017. Works to the roof were completed im Januaty 2026. It is hoped that work on the churchyard can commence in 2026. 21 Analysis of net assets between funds |Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one
year|Unrestricted
Restricted
Total Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
2025
2025
2024
2024
2024
£
£
£
£
£
£
100,000
100,000
100,000
254,365
255,365
268,295
271,000
539,295
22,102
232,728
66,458
86,081
152,539
(7,913)
(54,386)
(12,612)
(12,612)
210,626
(46,473)
2025
100,000
1,000| |---|---| ||268,554
533,707
322,141
457,081
779,222
265,153| 22 Pension contributions The P.C.C. operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the P.C.C. in an independently administered fund. The pension cost charge represents contributions payable by the P.C.C. and amounted to £212 (2024 £173). Contributions due to the fund at the balance sheet date amounted to £38 (2024 £NIL). ## 23 Related party transactions The rector and churchwardens are trustees of the Charity for Ecclesiastical Purposes in Connection with the Church of England, a charity whose principal activity is to support the work of the P.C.C. This charity owns 28 Hendon Lane and allows the P.C.C. the use of this property rent free. Page 22