CHARfYY REGISTRATION NUMBER 1131688 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHIUST CHURCH TtMPERLEY FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 31 DECEMBER 2024 5empas Aceountanls Limile Chartered Accountanls 15 Sherbrooke Close, Sale. Chcshire9 England, M33 5SZ
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTJCAL PARISH OF CHRIST CHURCH TIMPERLEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTENTS Page Annual Report of the Parochial Church Council Independent Examiner's Report Statement of finan(ial Activities Balance Sheet Note4 to the Accounts 10-18
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF CHRIST CHURCH TIMPERLEY Annual Report for 2024 Introduction The Purpose of Timperley PCC is to work with the incumbent and their assislant clergy in promoting the Gospel message throughout the Parish of Timperley. The message is promoted thrgh outreach, worship. pastoral work, and fellowship and by wperation with other Christian Churches and yroups in the area. Thu4 early in 2Q24"lolly Tots" was established, a parent, baby and toddlers group held weekly in ienn time, the grP has been a great suGces& providing rnany opportunities for cornmuntty en8agem¢nt. In April we were pleased to appoint Sahira as our new olTice administrator, Sahira has become an integral member of the Parish team At the APCM. David Bolton sto(NJ down as churchwarden and otTice administrator, David's invaluable contribution was reco8nised later ift the year. Linda Goodchild was admitted to the office of ¢hurchwarden followin8 her eleaion at that APCM and Stephen Taylor continued in his churchwarden role bringing his many years of ¢xperienc¢. commitment and dedication. In June Fr. Tom Ruston was priesled in c.hester Cathedral. many parishioners were in attendance and the next day Tom eelebrated his first eucharist at Christ Church with his family present. We marked the Parish 175th anniversary in mid-september with a weekend of events including a Heritage Open day the Vicar presided over an anniversary eucharist in the presence of his two immediate predecessors. the Archdeacon of Micclesfi¢ld. the Venerable Jme Proudfcrt preached a stirrAn8 sernion. The fcAlowing day Joan Taylor organiyed well-att¢nd¢d 175th celebratory lun¢h at Rin8way Golf Club and the weekend was $urAssfully rnd off by the Bishop of Stockport confim)ing several of our candidates. Engagement with sch(K)Is and re homes continues to be a high priority with th¢ Vicar conducting re8ular a&s¢mblies in thrtt lotai school4 as well as wdcoming visits to Christ Church. by Altrincharn College, Wcllington Sch(K)l. the Willows and Newall Gre. The parthership afternoon leas. held three times a year in Br(N)mw(x%l Sch(K)l. BO from strength to slren8th thank$ to the social ¢ommitt¢e and music provid¢d by Hannah Dunton. The Pastorat c.are Team and Joan Caulkin ¢onrinue iheir work by visits that support the work done by the cl¢r8y. Toyether with h¢[ l(Kai ¢hur¢he$. we leAI an Alpha Course at Si. George's and to ¢l¢)se this year tt was very pleasin¥ to note the attendanc£ ai ser4i¢es acros$ both ¢hur¢hes and the wonderful Carol concerts held at Christ Church by several I(1 schwls. Churth ¢tIOnS. Holy Cross: Park Road. Timperley. CheshiT¢, WA15 6QG - Chrisi Church.. Thorley Lanq Timperley, Cheshire, WA15 7AW Member8hip: Members of the PCC are either ex officio or electal by the Annual Parochial Church Meetin8 (APCM) in ardn with Chur¢h R¢pr¢s¢ntstion Rules There are algo representatives on both the Diocesan Syn(xl and Bowdon Deanery Syn(Kl. During the year, the followin8 Serv as member51trustees of the PCC.. The Vicar, Curate., Churchwardens.. Honorary Secretary: Honorary Treasurer.. Safewftardin8 Officer.. Deanery Syn(Ml., Revd. Father Stephen Dunton Revd. father Tom Ruston Stephen 'l'aylor. David Bolton (to April 24) Linda G0chIld• (from April 24) Gill Bulpin Tim Barlow Aileen Moran Margaret Thomason, Freda Murphy Elected M¢mb¢rs'. Judith Giles, Sue Walsh (part year) Janet Grws. Neil Provost (part year) Rwba Bunker, (part year) Gill Campbell {part year) C,arolyn Turner. Lynne Aves (part year - safeguarding otTicer) Elsie Mcmahun (pan year) Matthew Clewes. Bill Edisbury (part year) Carol Brooks-Johnson' (part year) *also a Deanery Synod member Standing Committee.. This committee has legal powers to transact the business of the PCC between meetin8s, Subje to any directions 8iven by ihe PCC. Page I
THE PAROCHIAL CHURCH COUPICIL OF THE ECCLESIASTICAL PARISH OF CHIUST CHURCH TIMPERLEY Annual Report for 2024 tndependent Examiner¥: Sempas A¢untants Ltd, Chartered AcGountaAt4 15 Sherbrooke Clos¢, SaJ¢ Cheshir4 Englan(L M33 5SZ. BAnken: Barclays Bank plc. Liverpool and CCLA Investment Managers Limited. (Re8iSt¢red Ofrice) One An8el Lan4 London. EC4R 3AB Correjpondente Address All wrrespoftd¢n¢¢ relatins to the Financial Statements should be addressed to Tim Barlow, 8 Thorley Lane. Timperley, Altrincham. Cheshire. WAI 5 7AZ investment Policiej & Reservej Restricted reserves are held in accordance with the ternis under which they are given to the PCC and likewise used accordingly to further the work of the PCC. The level of restricted reserves held by the PCC at any one time is in accordance with the Charities Act 2011, as amended by the Charities Act 2022 and will vary between the dates of the r¢spective Financial Statements through the application of the donor instrnctions and the requirements of the PCC. Withdrawals from the reserves are authorised by at least two authorised officers of the PCC and all funds pass through th¢ PCC Current account for a]1 expenditure. The investment policy of the PCC is to maximise the return on the ndS held, whilst Maintaining instant access to funds and accruing minimal risk. Interest rates on funds have remained at increased levels throu8houl 2024. The average rates "enjoyed" by the PCC on funds on deposit were circa 5.040/0 over the 12 month5 10 31 December 2024. 4.750/0 2023. Unrestri¢ted reserves are held under no specifIc temis other than to further the work of the PCC and to meet the WOTkin8 pitsl requirement$ of the PCC. As part of the b&nkin8 relationship the PCC have a8reed to maintsin ai le1 £5.000 at any one time in the current account with Barclays Bank pl¢ to avoid bank charges. The Same investment policy is applicable to these unrestricted funds as the restricted funds. The ndS used for day to day wkIng capital do not have a specific investment p(Aicy as any reserves above £5,000 are short-term cash flow movements. Each binkin8 day any closing excess above £5,(K)O is transferred to a deposit account on which interest accrue8 as follows, £587 in 2024 and £573 in 2023. Risk Assessment The PCC is exposed. as any org8ni8ation, to misappropriation of funds by thefL deception, or misuse. The PCC has considered the material risks and has established. by use of controls afforded by independent financial in5fitutions and se8re8ation of duties. sy$l¢ms which it considers will eliminate any material opportunity of misappropriation of fund8, Gr•nl Making Policy The grant making policy of Timperley PCC is detemiined by the members of the Parochial Church Cwncil assisted by recommcndats'ons from the churches, r¢pres¢nialiv¢s. Mindtul of the Pwish financial position thc PCC a8reed a rnaterial hange in its grant making policy during 2024. the policy is now as foll¢Jws. The PCC does not make grants to other charities from its income, having previously 8iven a percenta8e of its ordinary income for the support of specific charities. The PCC Continues to an1 discretion to its individual thurches to support a few charities by special "one-off. collections or the lI)cation of funds generated by a special event betng committed to a Charity. In future and where appropriate, 5(P/o of the amount raised will be allocaied to ih¢ PCC. with the remaining 51P/• bein8 dirKted to the designated Charity. The PCC also continues to acl as a "bankcr" in support of certain charitics, the funds paid out by the PCC arc simply the combined donations of members of the Parish to that charity, in 2024 an example of the "pass thrsh, were funds collected at the Christingle service being directed in full to the Children, s Society The PCC do not provide grants to indtvidua]s. thoUgh the Vicar may make "hardship grants" to individuals but not exceeding £50. Single grants or accumulated grants to any institution in any one twelve-month period should not exceed £2.000. Page 2
THE PAROCHIAL CHURCH COUIYCIL OF THE ECCLESIASTICAL PAIUSH OF CHRIST CHURCH TIMPERLEY Annual Report for 2024 Churches Together in Timperley The PCC receiveAI re8ular infornlative updates from Janel Groo& meetings in the year were mainly fSed on the planning of major events. Church Attendanee And Kle¢tornA Roll The average Easter attendance was 166 adult5 and 10 childrery the October attendance. which is reported to the Diocese, at Holy Cross was 38 adults and 4 chtldren and at Christ Church 46 adults and 2 Children. On Christmas Eve and Christmas Day 106 people attended a Holy Communion service at Christ Church and Holy Croys with 96 of those ittendin8 receiving communion. As at 31° December there are 166 partshioners on the Church Electoral Roll, TheElectoral roll is undergoing its required six yearly update and th¢ new dl0[al roll, with revised numbers. will be presented at the APCM. Honorxry SecrrtAry'S Report This report covers the work of Timp¢rl¢y Parochial Church Council (PCC) from its m¢¢tin8S that took Pl from January 2024 to December 2024. The PCC is a b(Y ele¢ted by members of the Parish of Timperley who are on the Electoral Roll. the PCC consists of both clergy and lay personnel, and oversees the finances of the Parish. the worship offered and the maintenance of its buildin5, it also d¢a]s with many other a$pt$ of ¢hurch life, for example di5¢ussion and decisions on the use of and charges relatin8 to the Parish Hall. safe8uardin8 and Parish Share. The PCC usually meets every 2 Months and once elected. laity membership of the PCC is for 3 year& there is ajso a Standin8 Committee of the PCC which is made up from a subset of PCC members who deal with urgent matters between PCC meetings. when Tequired. In 2024 the PCC met 6 time& but the Standing Committee did not need to meet. Each time the PCC meets it re¢eive$ a finan¢iAI report from the Hon<rary Treasurer providing the lal¢si finanrial position, the respective churchwardens report on what has been happening at Christ Church Rnd Holy Cross, a Deanery Syn(xl report is providvj along with a report on ChurLhes Together in TimrICY. (CTIT) activity. Safeguardin8 13 always on the agenda. Each PCC rneeting usually heralds new iterns for discussion and action. The first meeting of 2024 was held in January. A new botler had been installed at the curate's house at Grange Avenue. Jolly Tots opened on 18 January wlth 26 childrfflL and their carers attendin& feedback was overwhelmingly positive. The monthly Healing Streams bereavement Br¢JJp began in December 23 and infonnation abwt the group was irculated to ILKal funeral directors and Age Concem. Discussion took place about the improvemenl work r¢quir¢d to be carried in the parish hall. the main areas of concern were the windows being single glazed and draughty. the fire door. whi¢h was diffjcult lo ¢los¢, th¢ wp¢l and the sound System needed replacing. It was a8reed making improvements to the5¢ items would help to keep energy costs down and make the hall more attra¢tAve for people lookin8 to bwk it. At the March rneding Fr. Steve infoTrned the PCC that h¢ had applied to the Benefact Trust for a 8rant to support the Parish Hall improvements. Our Fo Hygiene ratsng went up from 4 to 5. Stephen Taylor m8d¢ investigations Into whether we needed to be registered with the FSA. David Bolton resigned as parish office administrator and churchwarden as he was movin8 oul of ihe aro as a result the search for a new churchwardell began and Vacan for a paid otTicer administrator was a]so advertised. Page 3
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CIIIUST CHURCH TIMPERLEY Annual Report for 2024 The Annual Parochial Church Meetin8 t(x)k place on 28th April 2024 at Christ Church. Ai that meeting Elsie Mcmahon and Bill Edisbury were elected as PCC members for three years. Rouba Bunker was appointed as a Deanery Synod member. In May. at the first mttting of the PCC post the APCM. the PCC Secretary. Treasurer, Stsnding Comrnitteq Vice Chair. Safe8uardin8 Offictr and sides people were appointed for the next 12 months. A new church office administrator had been appointed. A Bible Study on the Book of Ruth began in May and was attended by 14 people. At th¢ meeting in July, Fr Steve announced that The Benefact TTUSt had awarded £1.750 toward3 the Parish Hall work. Kid's CdleGtsve 8ave notice to tem]inate their operation at the Parish Hall, with etTect fTOrn the end of July, the approximate loss of inLx)me lo the Parish would b¢ som¢ £17,0(X) per annum. In September. a new Bible Study course, on the First Letter of John began. The Alpha course also commenced at Si George's Chwch with members from Timperley and St Alban's joining with members from Si Grges. The Confirniation service t(K)k pla¢¢ at Christ Church in this month with 6 Gandidates bein8 confirnied by ihe 13ishop of St(Kkport. The collection plate ha5 been reslored in both churches. Fr. Steve attended a consultation for the proposed development of 2.51X) new homes at Davenport Green. which could potentially in¢rease the number of parishioners in the Parish caichment area by circa S.¢X)O to approximately 27,0(K), Preparations for the )ThU81 Baby Los$ Setvice were discussed, and plannin8 took place f¢y our All Souls Requieffl in November followed by the blessing of grav¢s. At the November meetins we heard thAt Christ Church had achieved Eico Church silver status. The Remembrance Sunday Service was very well attended. including attendance by two local councillors. The Parish office administrator continues to work diligendy on the remarketing of the newly refurbished Parish Hall to increase bookings. FinnciAI Review of the Ytjr For the financial year ending 31° 1)ecember the PCC delivered a large deficit of £52.555 which is a significant deterioration when CA)mpared with the 2023 deficit of £6.740. Incomin8 Resour¢es (income) for the year of £137,055 were marginally legs than the 2023 fi8ufe of £141.732. there were several sources of income that reduced from 2023 levels, partially mitigated elsewhere by small increases. The mosl material dffr¢a was ihe income being generated from the letting of the Parish Hall. this reduced during this yeaT as Elms gave notice of their intention to terminate their contract frorn the September terni. The end of this contract has more serious financial implications for 2025 if the hire income can't be r¢pla¢¢d. The other significant decrease in income cornpared to 2023 was the full year effect of the decrease in rentsj income received frcffn 17 Gran8e Avenue. whilst this has been panially mitiBated by the contribution from another Parish, it still meaTJi a £4k reduciion in incomin8 resources durin8 2024. Incoming resources from Donors held reasonably constant in 2024 with only a small reduction. with income from Collections increa5in8 and offsettin8 the reduction in Planned Givin8. It was also pleasin that interest rates held for 2024 meaning that the contribution from interest also mitigated some of the drop in hirin8 income. Unfortunately for the PCC. when Iwkin8 ahead 10 2025. interest Tates are startin8 to fall and the balances on which the PCC geneTate interest are also under pressure. In 2024, Resources Used (expendinwe) were gome £189.610 which compares unfavourably to the figure in 2023 of £148.472. and even more unfavourably to the 2022 resources used amount of £122,225, the material reasons for growth in expenditure, were in the main down to two areas of expenditure. The main variance and adverse movement from 2023 was caused by a significant levd of repairs and maintenance required io b¢ l¢d out across all four of our buildings, with most of the expenditure at the Holy Cross site and 17 Grange Avenue. Repair5 and M&intenance included the replacement of doors. Caet and windows at the Parish Hall, repairs to the roof at Holy Cross and correcting a series of maintenance issues at 17 Grange Avenue. When added to electrical wiring replacement at Christ Church the various works combined contributed to circa £40k mole expenditure than in 2023. Li)oking forward it is helpful in the rontext of 2025 to nrte that much of the expenditure was non-iecurrent and should "future proof, these areas of work for at least ihe next decade. Pag¢ 4
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH TIMPERLEY Annual Report for 2024 However, of the other material wst in¢reas¢s Parish Shar¢ increased by 50/0 on 2023 levels. Parish Share is ¢xplained elsewhere in this Teport and was the subject of discussion at the January 2025 PCC meeting. The impact of all the activities of the PCC, noted Above in the commentary and recorded in the financial $laleTnent for 2024 is reflt¢d in the funds position, with a significant reduction in the Unrestricted Fundi from the closing balance in 2023 of £589,6CM) to the 2024 closing balan¢e of £537.207. Overall. the PCC has funds of Some £660 596 available to li but most of those funds are held as fixed assets, not cash, with the actual cash balances available to the PCC at the end of 2024 being only £264,089. il is also important to note that nearly three quarters of those cash fvnds have some restriction associated with them. The 2024 financial Position is best summtirised as both a reversal of improvements in incomin8 resources. and a significant increase, for a second year, in expenditure. leading to a further overall reduction in funds. whil some of that reduction was "one-oft" and will not be repeated to the same extent in 2025 we know that generally costs are likely to continue to An¢rease each year. Thu8, the members of the PCC acknowled8e the need to generate additional recurrent income and where possible look to limit ¢ost increases and review the underlying Cost base. in the interim it is likely that the trend of fundin& b¢in8 an overall ouigoing of resources will continue and this will mean thai ihe Parish will have io rely on using the Unrestricted Funds lo bridge any gap between income and expenditure. nolin8 thal those funds are themselves limited. STATEMENT OF TRUSTEES RESPONSIBILrriES RESPE OF THE TRUSTEES ANNUAL REPORT AND THE FINANCIAL STATEMENTS Under charity law. the INstees are responsible for preparin8 the Trustees Annual Report and the financial statements for each financial year which properly present the state of atTairs of the charity and of the excess of income over expenditure for that F)eriod In preparinB these financial ststements. 8enera]ly accepted accounting practice entai18 that the trustees.. select suitsble accountin8 policies and then apply them consistently; make judgements and estimates thal are reasonable and pwdent. state whether the financial statements comply with the rust deed. subject to any material d¢partures disclosed and explained in the financial statements; prepare the financial statements on the going concern basi5 unless )t is inappropriate to presume that the charily will ¢ontinue its activities. The trustees are rtyUiT to act in aCrdanCe with the trust deed of the charity. within the framework of trust law. They are responsible for keeping proper ar¢ountin8 rewds. 5UtTicient lo disclose at any time, with reasonable accuracy, the financial position of the charity at that time. and to enable the trustees to enwre that. where any statements of tA)unts are prepared by them under section l J2(1) of the Charities Act 201 l. ag amended by the Charities Aci 2022. those statements of aCc(nts comply with the wuirements of re8ulations under that provtsion. They have general responsibility for tsking surh steps as ar¢ reAsonably open to them to safeguard th¢ 8ssets of the charity and to prevent and det1 fraud and other irregularitt¢S. Page 5
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH TIMPERLEY Annual Report for 2024 During the yelr 2024, the following served gs Trustees: Revd. Father Stephen Dunton Viw- Chair Revd. Father Tom Ruston Curate David Bolton Stephen Taylor Linda Go(xlchild* Church Warden to April 24 Church Warden Church Walden from April 24 Gill Bulpin Honorary Secretary Tim Barlow Honorary Treasurer Mar8aTet Thorn Freda Murphy Carol Brooks-johnyon Deanery Synod Deanery Synod Deanery Synod (part year) Aileen Moran Judith Giles Sue Walsh Elsie Mcmahon Rba Bunker. Netl Provost Janet Groos Gill Carnpbell Carolyn Turner Lynne Aves Matthew Clewes Bill Edisbury APCM APCM APCM (part year) APCM (part year) APCM (part year) APCM (part year) APCM APC.M (part year) APCM APCM APCM APCM 'aiso a Deanery Syniyl Member Signed on beh( of Timperley PCC Date: 18th March 2025 Chair: Revd. Father Stephen Dunton Page 6
THE PAROCHIAL CHURCH COUNCIL OF THL ECCLESIASTICAL PARISH OF CHRIST CHURCH TIMPERLEY INDEPENDENT EXAMINER'S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH TSMPERLEY I rep)rt to the thjsttts on my cxamination of ihe a¢UnIS of the above charity ('the Tnl") for the y¢ar ended 31 Dember 2024, which w¢ set out on pagcs 8 to 18. RESPONSIBILITES AND BASIS OF REPORT As th¢ PCC you e responsible for the preparation of th¢ £1]nts in accordmce with the requirem¢nts of the ChaTiticB Act 2011 ('the Aa.) as amended by th¢ Charitses A¢t 2022. I report in T¢Specl of my examination of the clwi.ty s accounts carried oui under section 14% of the 2011 Aci and in cmin8 oul my examination, I havc followed all th¢ 4)pli¢oble Thrc¢tsons given iry the Charity Commi&sion under section 145{5Xb) of th¢ Ad. INDEPEIWENT EXAMINER'S STATEMENT I have completed My cxaminalion. I wnfirn no material malleT5 havr com¢ my aU¢nlion in conne¢lion with the cMminattc which Biveg me cause lo believe that any mai¢riai respect,. thc accounlin¥ rKords W¢ not k¢pt in a¢cordanc¢ with s¢¢tion 130 of the Charities ArA: or th¢ accowiLs do noi awd with thc Accountin8 r¢cords' or the xcounts th) Njt wmpty. with the applicable requircm¢nts ¢onc¢rnin8 the fomi mI rMt¢nl of acwunts set out in the Chariucs (Accowits and Rcrts) Rcgulations 2008 other than anv requirem¢nt thai thc accowits gil'¢ & 'lnLc and fair, i'iew whh is not o matter consider J¥ pan of an indq)endcnt examination, I have no concerns aNJ hav¢ r/Jm¢ xross no other mattrrn in conne¢tion with the examinati to which atlentson should be drawn in this rewi in order to ethable a proper und¢rslandin8 of the account5 LO be reached. SUS Su¢hOp¢k FCA for and on behalf of.. semp Accountsnts Lt Th•rtered A¢¢ountsnts, 15 Sherbrooke Clogt. SAIe, Cheshire, England. M33 5SZ Page 7
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF CHRIST CHURCH TIMPERLEY STATEME OF FINANCIAL A(JIVITIES For the Yr Ended 31 December 2024 Unre8lrieted Funds Restri¢tsd Funds Endovrnient Funds TOTAL FUNDS 2024 2023 NOTE INCOMING RESOURCES Incoming rescwc¢5 from donor5 2(a) 62.956 62,956 63,911 Other voluntary incoming Tesources 2(b) 19.178 19,17g 16.303 Incom¢ from charitable & ancillary tr*Jing 2(c) 32,509 32,509 38.478 (thr ordinary incoming r¢sourc¢8 2(d) 9,442 9,442 11,843 Income from inveslments 2(¢} 8.860 4.110 12.970 11.198 TOTAL INCOMING RESOURCES 132945 4.110 141,732 RESOURCES USED 3(a) 1.466 1.4( 5,320 Activities directly relating to the work of the church 3(b) 167237 167237 130J73 FuttdrnisinB and b]ItIty 3(¢) 30 30 Chur¢h maoagemfflt & wJminislTaiion 31dl 3(c) 16,605 4,272 20,877 12,779 R¢stLYalion & other works TOTAL RESOURCES USED 185J38 4,272 189ffj10 148h72 NET (OUTGOINC)RESOURCES (52J93) (162) 152555 (6.740) GROSS TRANSFERS BETWEEN FUNDS CAINS AND LOSSES ON INVESTMENrs Realis Unre41ised NET mOVEmEr IN FUNDS (52J93) {162) <52355) (6.740) BALANCES BROUGHT FORWARD AT I JANUARY 2024 589,6 123.551 713.151 719.891 BALANCES CARRIED FORWARD AT 31 DECEMBER 2024 537207 123J89 660396 713,151 Pa8e 8
THE PAR(H[AL CHURCH COUIYCIL OF THE ECCLESIASTICAL PAIUSH OFCHIUST CHURCH TIMPERLEY BalAnce Sheet As At 31 De¢ember 2024 2024 20 FIXED ASSETS Tangibl¢ fix¢d Sets 397337 401 CURRENT ASSETS 10.990 264.089 13.095 303.842 C&sh al bank and in hd 275,079 316,937 LtABILITIES; AMOUNTS FALLING DUE WITHIN ONE YEAR (11.720) (5.476) IYET CURRENT ASSET5 263JYJ 311861 NET ASSETS 713,ISI FUNDS lJnr¢$thcted R¢sthc*d 537207 123J89 S89,6} 123.5fj1 660J 713.151 Approved by the Parochial Ch Council on 18th March 2025 gmd signeAI on its b¢half iry: T J Barlow: PCC Honor•ry Treuuttr Pag¢ 9
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH TIMPERLEY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2024 AcCoUrING POLICIES Basis of prepartion The f¢1)1 stalements have ten preped Und th¢ hislorical wst convcntion with iicms recogniseAI al cost or transaclion Vlle unless othcrwis¢ 51JtryJ in thc relcvant tKJtes lo these accounts. The Financial Statrments have been prq)ar2d in )rdAnce with the Chariti¢s Act 2011 as am¢ndeA iry the Ch4nts¢s Acl 2022. ChAritscs IA¢¢oun15 and Reprts) Regulatsons 21K18, Statement of Reeommended Practice on Accounts'ng and Reporting b), chltieS SORP (FRS 102) and applicable a¢eountsns standards. The fincial statements pTepar¥l in st¢rlin8. whith is the functi(mal currency of th¢ entity. b) Judgemen¢8 And key ioureu of estimation uncertAinty The preparation of the financial stat¢m¢nts require$ the trustec5 to make judgemcnls, eslunates and asmlon5 that BIT¢ the amounts reported. These estimates ond judsemenls a conts"nualty reviewed and are bas on experience and oth¢r factors, irldIng expKtations of fuiuff ¢v¢nts that ar¢ b¢li¢v¢d to be reasonable under the circumsLanG¥s. Significant judgements There were no SilfiCant judgunents that mana8cmenl has madc in the proce&8 of llpplying the cntsty'5 awountin8 wli¢ies. Kcy sOU¢S of¢&imdion uncertainty AccounliTr8 estimales And assumpts'ons are made conc¢ming th¢ futu atKI, by thcir natyrc. will rarcly cqua] the related actual ouiwme. The kvrf assumptions and other sourG¢s ofcstirnalion unccrtainty that havc a signi ficanl risk of cau8in8 a mawial adJusthi¢nL to the caryin8 amounts ofass¢ts liabilits'es within the next financial yeAT ar¢ as follows.. Usefid economic lives oftangible fixed assels As described in the accountin8 wlicies note to the fman¢ial &alrn)ents. dcprecihts'on of tangible fixed S&S htd b¢¢n based on e¢onomic useful lives and residual valu¢s de¢m¢d appropriate , the PCC. Ests'matcd useful lives and residual vilues a revi¢wcd annually and ig¢d ys appropri4le. Revisions consider ests'maled useful lives u$¢d Lry other enlilies operatsn¥ in the srttor and actual assci lives atKI residual valuc8, as evidencol by diSSaI9 durin8 currenl and prior a¢MuntsnB periods, Fun Th¢ Restrictrd Funds h¢ld in th¢ Parish Buildings Fund, were used to sUprt the PUTchas¢ of17 Grange Avenue, the rvtsined balancc is to be 8¢d for major resloralion and Ixu'lding work. on Parish builth'ngs. If furtheT restri¢d funds aTC receivcd. thcy will bc hcld in a scparately designattyj a¢¢0¢ and may onl}, bc cxpended on the specific object for which they were 8iven. Unrestri¢1 funds ar¢ G¢n¢ral funds. whith Can bc usd for PCC ordinary purposes. The financial eMentS include 811 transactions, assets and liabilits'es for which th¢ PCC is responsibl¢ in law, They do not include the rinmcial Sm¢ts of other church groups thal ow¢ their mfjin atfiliats'on to aniyther b(xly, nor Ihose th are infornal gatherings of church member5. d) Intoming resourt Planned giving, collectiS and donations are r¢co8nised when reccivcd. An estimate of tefun(ts for Th'ft Aid are rew8nd in thc vc in which the incomc is Collted, alihough c&8h is 1y¢d by reclaiming from HMRC after the Yeard. Grants and legleS arc accounled for when th¢ PCC i5 legally etLlided kn the amounts thje. Inier¢sl is ac¢ounted for on an a¢¢rnals basis. All other m¢ome is recognised wh¢n it is receivable. All incoming r¢sour¢es are a¢¢Ol¢d for Bross. Amounts received specifi¢ally for The Ptirish Buildt"ng Fund are d¢ali with as restricie41 fds. Pagc 10
THE PAR(NIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF CHRIST CHURCH TIMPERLEY IYOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2024 Gfants and doThatiorL8 are accounted foT when paid over, or whcn aw&rded. if that award ereatrs & bindiDg obligthion on th¢ PCC. lkne Diocesan Parish Share is w)urt for when pd. Other resourees exp¢th are calcul&ed on the accrnals basis. ThLy arc spccifjcaity llitributed to the tegory of expeNliture to which they relatr. All exdIlure is accou for gross. Tgible rued &wts Tangible uscts are initially recorded at cosL and subsequenlty statoj at cost less any ac¢urnulatrA d¢pff¢iatson and impairm¢nt10s8¢8. Any t8Ible Jssets camed at r¢valuoa amounts are recordcd at the fair vhlue at the dAtr of revaluation Icss w subse(wit n141¢4j deprcciation and subwual accumula1 1mpairnnl Ios5e& Depreciatlon Depreciats'on is ¢alculate41 at the following rat¢$'. Fixtslles md fithn85 Holy Cross- knt¢h¢n Stora8e facility - 20•/• pcr annum on a reducing bBIoD¢e b&8is. I/fj pcr annum ot) a straight-linv b&8iS. - 4/0 per 41uM on a strtiight-line bASiS. Th¢ puwh& of the property in 2017, 17 Granse Avenue. TIMleY. 1$ St4t cost, as the PCC believes the equity sbar¢ vttluc is at least ¢qwYal¢ni lo the slal¢m¢n¢ of fina141 position valu¢. thus no depre¢iion is applied. h) lrnpirnent of fred assets A review for indi¢ors of impairnient is Carried ¢)ut at each reports'ng date, with the re¢overabl¢ amowtt bejng esiirnated whcre Such inth'cators cxist. Whcrc the carrying va]ue ex¢ccds the leVerable amount, the ass¢t is Impair accoidin81y. Cains Trd losles on invethffits R¢all8 gain5 or10sKs whw the RDv¢51m¢nts sold. i) Consetrated property And movAble ehurch furniJhln81 COnSrad and bcneficed propcrty ofany kind is excluded from the fmancAal statements lry s.10(2XA) ofthe Charities A¢t 2011. MovJbl¢ church furnishin8s held by the Vicar and ChUhardenS on ScIal trust for the PCC and which requiT¢ a rulty for di$p)sal are accountcd foi ¥s inatienablc piopgrt), unl$ ¢on5c¢iatrd. Thcv ate listed in the Church's inventory. which can bc insFt£trd ai any 1ble lim¢. For inalienable woperty acquired prior to 2003 there is insuffici¢nl wst infortnAtion avaiible and ther¢for¢ such ass¢ts are Wal4 in the fmancial ststemcnts. Items acquired sinc¢ l January 2003 have LKcn capilalucd and d¢pre¢icd in thg fthancial s£atem¢nts over th urTentiy ants'¢Jpated usefut lif¢ Inits'ally over S years on a straight-lin¢ basis. All ¢xp¢ndittwe incwred in thc year on COn¢rated or benefic¢d builth'n88. mdividuoi iterns under £2,0(, or on the repw of movable church furnish'Lng5 Jcquir¢d befoff l jUary 2(M)3 is writt¢n off. trIng the y¢ar, the PCC caryied oul no ma*nal work OTh the tonse or ben¢ficed buildjngs. Pagcll
THE PAR(ThIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF CHRIST CHURCH TIMPERLEY NOTES TO THE FINANCIAL STATEMENTS For the YeAr Ended 31 Dt¢ember 2024 k) Proviiion$ Provisio% are recogni1 when the entity has an obligatton ai the reporting drte because of a past event, il is probable that the entity will be r¢quired to trSfer¢COnornlC benefils in s¢ttl¢nwni and the amount of the obligatson ethn be estimated reliabty. Provislons are recosnised &¥ a liability in the swement of financial position and the amount of the provtsion os an expense. Provisions ar¢ imtia]ly rne&sur&J thl th¢ b¢sl ¢stimat¢ ofthe amount required Lo scttje the obligation at the rwling date ayd subsequently revi¢w¢d al ¢h r¢porting dal¢ and adjusted reflect the curr¢nl best ¢stimale of the amount that would ir required to s¢ttle the obligation. Any jUstMents to the amounts previously reclSed are reCOls¢d in statcmcnt Offinanci ts.lts.¢S unicss the proviSn was origilwlly feco8nised as part of the ¢ost of an asset, fin#n¢i*l Ins¢rnmtnts A fman¢i41 asxl or a financial liability is reco8nised onty when the ents'ty E¢¢ornes a party to the ¢ontra¢tual PTovisions of the instnlmeni. Basic fancIal instnbments ar¢ initially Te£O8nis&l Ai th¢ tyansaction price, unless the arrangem¢nt¢onstitutes 8 finan¢ing trnns8Ction. where it is re£ognised at th¢ present valu¢ of the payments discounted at a market rate of intEr¢sl for a similar debt instrumcnL Debi instnunents Afo 8ubseqwitly measured at aM0.sed cost, Odw finan¢iai mstsim)ts. including derivatt'ves. are initio]ly recogni3 at fair value. unless payment for an asset is deferred iwond nornia] business l¢n))s or financed al a ratc of int¢resL that 1$ noi a market rate, in w,¢h ¢as¢ th¢ asset is measwed at the preseni value or thc firtur¢ paynents dIoUnted at a market rate of tht¢r¢st for & similar debt mstrum¢n¢. Fina1)1 &ssets that are measured at cost or amortised cost are reviewcd for objective cvidencc of impairnient al th¢ eTrJ of exh rewrting da¢¢. If th¢ is obj¢¢tiv¢ evidence of impaitment, an impairnwnt108s is rewgnised in stalemtht of financial a¢tivits'es immediakly. For llll cquity inslruments gardlesS olsignificancc, and othcr ncial assets that art individually significant, thcsc are aSSSed indidull1Y for impaim)ent, Oth¢r finartcial ass¢ts ar¢ ¢ith¢r assessed Individually or grou bwe41 on Amilu ¢11t nsk charactcristi¢s. Any rcversds of impairnient are rtto8nised in statement of fin¢tal acts'vilics immediotrly, to th¢ cxl¢n¢ that th¢ Tevcrsai does not re11 in a caryin8 amountof the fjnancia] asset thal exceeds the carying amount would hav¢ b¢¢n the impaimi¢ni not prcviously iKcn ffcognised. Financial instruments are classifi and accounted for. pK¢ording to th¢ Subs1 of the c0ntrXfjl arrang¢rn¢nl. as either financial assets, financial liabilities, or equity instyumenls. An equity mstnThenl is any Contr1 evide¢¥ a Tcsidud interell im the assets of the entity after dethcts'n8 all its liabilities. Going Concern Whi18t the chanty has realis1 a deficit of £52,555 fol the CUTrent year 2024, there is £64,385 of cash al 27th February whJ'¢h is neith¢r reglTiCtgJ nor designatal 2nd r¢sult the Trust are able lo sats'sfy th¢MselV th¢ Charity is able to cThtinu¢ as a 8oins for at least twelve months frorn the date ofapproval of these fmancial statements. Pa8¢ 12
THE PARHlAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OFCHIUST CHURCH TIMPERLEY NOTES TO THE FINANCIAL STATEMENTS For the Yegr Ended 31 December 2024 INCOMING RESOURCES Unrestri¢ted Funds Restricted Funds Enqlowrnent FuThds TOTAL 20 FUNDS 2023 2(a) In¢omlhg r¢s(wr¢¢$fvm d¢)nors Planned Giiing In¢ome Tax recoverabl¢ on gift aid Collections Sundry incom¢ 39,252 11,323 12.325 55 39252 11.323 12,325 55 41.471 12,148 10.161 62,956 62.956 63911 2(b) l?rher wlwiiary In¢offtlng resour¢es Outward 8jvin8 Parish restoration DonatsoDs and bc4U¥SL8 Fctcs and othcr 4)ccial cvents 1,466 518 8.772 8.422 1,4( 5J8 8,772 8,422 2.074 267 8.425 5.536 19,178 19,178 16J03 2{¢1 Incomefpvm ¢harltabl¢ & 17n¢lllary iradlAg Hire of Halls Fccs duc to CDBF Fe¢s du¢ PCC 22,320 4,913 5,276 22.320 4,913 5.276 28.434 3.493 32J09 J8A78 2(d) Oiher ordinary incoming resot4rce.s Insurance income R¢ntal Incom¢ Gr*nt In¢omc 7.692 1,750 7,692 .750 11.843 9A42 9W2 2(e) Incomefrom inveslments InteTest 8,860 4,110 12,970 11,198 4.110 12970 11,198 TOTAL JNCOMING RESOURCES 132945 4.110 137AfjS 141,732 Pa8e 13
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF CHRIST CHURCH TIMPERLEY NOTES TO THE FtNANCIAL STATEMENTS For the Year Ended 31 December 2024 RESOURCES USED Unrestricted Fund$ Restrirted Funds Endowment Funds TOTAL 2024 FUNDS 2023 3(a) Cir(¥tis Otward 8ivinB 1,466 5,320 SJ20 3(b) Ach'vih'es direcfly relah'ng to the work of Ihe church Ministy Pansh share Clcrgy ¢xp¢ns¢s Clergy housins Visitsng cl¢r8y 75,344 2.680 71,757 1,915 4.862 2.680 Or8mist5 Choir and musi¢ Or8uVpiano main*nanc¢ Lighi and heat Water rates and usage chaT8es Inwrance Rtpairs and mainl¢nae Clcawng S¢rvic¢ ilerns 3,971 540 925 11.674 3.171 5,805 38,228 1,600 3.399 65 356 5.770 3.971 540 925 11.674 3,171 5.805 38.228 4,445 254 1,222 14.307 1,866 5.632 3.177 480 2,941 - Consumables - Books ond other fitts'ngs Young PerS(S Ministy Graveyardlgrounds Flowers Hire of halls th.ese and churchcg together Fees due to CDBF 3.399 65 356 5,770 117 92 13.537 291 4,527 4,527 3,59.% 167337 167337 130J73 ye) Ftsndralsing andptsbliclty 30 30 3(dl Chr¢h manogemenl andodministrario Pnntsng, p)stage, and stationery Statrtraming Events And OtheT C4) Ixgai eosts Bank chgeS twetiation Indepelldenl Accountants 7.056 7.056 2.936 3,144 3,144 3.$ 4.8.$6 1,5.$0 4.272 9.128 8258 1550 16 4272 20077 12.779 Page 14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTJCAL PARISH OF CHRIST CHURCH TIMPERLEY NOTES TO THE FINAI¥CIAL STATEMENTS For the Year Ended 31 December 2024 Unttstrieted Funds Restrieted Funds Endowment Funds TOTAL 20 FUNDS 3(c) Resiorahon andofher workJ Insurance Work TOTAL RESOURCES USED 183J38 4372 189hlO 148872 AFF COSTS Thc PCC employs its main OrBmist through a ¢ontra¢l of ¢mplwm¢nl for which thcv arc paid £2.750 (2023.. £2,750) In 2024 the PCC addcd to its slalTffjd employ¢d a part-um¢ OFfic¢ Admiwstrator. On¢ ¢th¢r member orth¢ PCC r¢¢¢ivgJ rnuneration for $cryic provmled io th¢ PCC, th¢ V¢r8¢r rtt¢ivd £61012023.. £780) for services Provided to weddin8s ond fimerals in th¢ Pwigh. EXCI11ng cler8y expens¢s, ¢lAim¢d ea¢h month in 2024. three of the PCC cliirned Jrnounts for reimburxm¢ni of ¢Xpdity tly incurred directly on behalf of the PCC. in 2023 five members of the PCC. clainThl T¢imburs¢ment of expendi i1 on behalf of the PCC, Any amounts incurred have been reported a8ainsL the resouw£s used hep*Jmgs akne and w¢r¢ incurred for eificicncy, the level of exp¢nth'turc may vory. year ¢0 vear, d¢pthA£ the type of projccts thai are kin8 undertaken, SALARIES FOR MINISTERS The PCC does not dire¢dy pay for the sAlaries of its minislers; these are paid centralty, primarily bj the DI¢ of Ch¢sl¢r. with rne minimd Oip¢NI comin8 from the Church CommiS%iLer$. Th¢ PCC supports its cl¢rsy in aOrdanCe with 8¢ner8lly a¢c¢ptgJ pri1p1¢S olthc Church of En8laThJ by con¢n"butin8 to the provision of cl¢r8y housin8, council tts and the reimbuTsem¢n¢ of re&qonable Parish related expenses, The PCC Contribu to a centrd fvnd to as&st coiering Di0San salary throu8h "Parish Share. ' Mosl of their ¢yxnth'ture relates lo ¢lcrgy suppjrt. Th¢ sehern¢ was last r¢viewed in 2011, and the standard parishshare w&8 r¢s¢t in 2012 wb8¢(p¢td year The Pwish Share for 2024 was £75.344. the corresponding figure for 2023 was £71.757. a 5Y• In frn 2023 to 2024. Pag¢ 15
THE PAR(KHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH TIMPERLEY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 3J December 2024 F]XED ASSETS FOR USE BY THE PCC As #t 31112124 As at 31112113 Cost Net Net Tangible fixed assets 17 Grang¢ Avc. Tim1¢Y 346,697 Holy Cros5 Kitshcn 36.644 OtTice equipmenl 1,841 CC Boiler 7,457 HC &)iler 5,3116 SIor&8e bwldmg- Holy CTOSS 106,793 Church Fixtswes & Fittings 5,362 346.697 7.329 46 210 723 38,445 3.787 346.697 36.644 1,841 7.457 5.386 106,793 686 346.697 10,993 58 262 29.31_S 1,795 7.247 4,663 68.347 1.575 25,651 ,783 7,195 4,482 64.076 628 42.717 59 510.179 112942 397237 $05304 103J14 401& It&s been one additson to Fixed Assets in 2024. at acost of£4.67512023 - nil) being the thlditson of a new audiopvisua] syst¢m installed at the Parish Hall In 2017 thc PCC 8grecd that il was 4ppropriate kn us¢ some of the pftJJs from th¢ sale of 97 Park RO and the sale or 57 Htyes Lane, On8 with the bancE of new buildj'ngs fund. to make improvements to existsng buildings gnd to purth&qe a house for the use of t ChuTch worker or & Curate. The purchase of17 GTange Avertue, W A15 6DS, a four-bedroorn semi41ehCd house. complrted on 7th Junc 2017 and the cost of Ihe proFrty i5 shown above ai £346,697 &q it Is the PCCS beli¢fthai by the end of 2024 its markct val W&4 l¢asl ¢quAI to or exce¢ded lh¢ oriwnai purchase price 8nd therefore no deprecialion needs be applied. ANAL YSIS OF NET ASSETS B Y FUND Unr¢strirt¢d Funds Restricted Fundl Total Total 2024 2023 2024 2023 2024 2023 Fixed assets 358,792 190,135 (11.720) 358,973 236,103 (5.476) 38,445 84.944 42,717 80,834 397337 275,079 (11,720) 401,6 31(),937 (5.4761 Cunmt liabilities Fund Balance $37207 $89ffj 123J89 1233SI 713.ISI DEBTORS 2024 2023 Gift Aid recoverab]e Pwuyrnents and Clued uKome Oikn debto 10.500 490 10.ioo 437 10,990 13.(V)S Page 16
THE PAROCHKAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH TIMPERLEY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2024 LIABILITIES.. AMouNfs FALLING DUE WITHIN ONE YEAR 2024 Trade Crethtors A¢cnthls hnd deferral incom 1.564 10.156 2,152 3J24 11,720 Sh76 FUND DETAILS The Unr¢slricl¢d ftsnd is the Gcn¢ral Fund which is to be used to supwrt the on80ing day to day work of the PCC and the Restrictcd Fund is th¢ Parish Buildin89 fiu. Th¢ purchas¢ of17 Gr&Tr¥e Avenue, Timwley in 2017. as noted at 8ectii)n five ab)ve. uts"liscd funds h¢ld in th¢ CCLA Parish Buildings fiu)d and the bolanc¢ of cosi was 'cD from ihc pr(K¢¢ds of the sale of 97 Patk RoJ, th¢ sale of which Ik pl¢ in 2016.Thc retalld bal•¢ is to b¢ usejj for major restoration and building WO on Pansh buildings. A tablc dcLailin8 the rTr)vcm¢nts of the unrc51tl¢ and the Restricted fim&8, duTill8 the )ear. is detw'l¢d bclow. Both Unrt#n¢led and Rc51n'ctul fill3 uc hcld at carh Yearnd in soparal¢ly dcsIad xcounts. BalAnce It Oimill4 Resourc In¢omin8 re40ur BAIAnce at 31112124 Tranjlen Depr¢¢lation Itslerest Unrulrithd Fund Gcncral Funds Restricted Fund Choir Robes 589ffj(A) {4,8561 (180,482) 124,085 537307 Parish Building 122J51 14,272) 4,110 122J89 Totsl Funds 713.151 (9,128) IIPA)882) 124 12970 io INDEPEI¥DEiYf EXAMINERS REMUIYERATION Sempas ACCllts Ltd were appK)inted in July 2019 to act Js lThIept Ewniners of the PCC finnciBI sutements and in that capxity e paid £1,5(KI12023 - £1.5(M)) li CAPITAL COMMITMENTS There were no captsl comnutments as ai 31 Dccember 2024. Page 17
THE PAROCHJAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH TIMPERLEY NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2024 12 RELATED PARTY TRAi¥sAlONs Thele were no related paty transadions dwing th¢ ¢urrent or previous year. 13 COlRoLLING PARTY There was no ov¢ruJl conerolling party durin8 the current or previo$ year. Page 18