IISl L91 Charlty registration number 1131706 PAROCHIAL CHURCH COUNCIL OF ST JUDE. SOUTHSEA ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA CONTENTS Page PCC Members report Statement of PCC members r8sponsibilits'8S 12 Independent examinerfs report 13 Statement of financial activities 14-15 Balance sheet Statémént of cash flows 17 Notes to the financial statements 18-36
PAROCHIAL CHURCH COUNCIL OF STJUDE, SOUTHSEA PCC MEMBERS REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Annual Report for the Activities of St Jude's, Southsea INTRODUCTION The membèrs of St Jude's Parochial Church Council IPCC) submrt their Annual Report and the financial statements for the year ended 318t D8cember 2024. The accounts have been prepared in accordance wrth the accounting poIici8s s8t out in not8 1 to the accounts and comply with the governing regulations, th6 Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland" IFRS 1021 las amended for accounting periods commencing from 1 January 20161. LOCATION St Jude's Church address is Kent Road, Southsea, Hants P05 3EL. Its bank accounts are held wf(h Lloyds Bank plc, and Carpenter Box, Chartered Accountants, independently examines rts accounts. BACKGROUND st Jude's PCC has the responsibllity of cooperating with the Vicar in promoting, in the ecclesiastical parish, the mission of the Church.. pastoral, evangelistic, social and ecumenical. It is a corporate body established by the Church of England. The PCC operates under the P8rochial Church Council Powers Measure. st Jude's parish falls within the Diocese of Portsmouth. The parish makes an annual contribution I'th6 parish share"), which is used to pay clergy stipends, to fund diocesan ministries that support thè parish and for diocesan and general synod costs. The diocese appoints the parish clergy. St Jude's PCC is a charity - registration number 1131705. The other charity related to it is the St Jude's Vicar and Wardens, Trust la discretionary charitable Irustl, but this was closed in 2021. PUBLIC BENEFIT The PCC has Complied with the duty In the Charities Act 2011 to have regard to the public benefit guidance published by the Charity Commlsslon. MEMBERSHIP OF THE CHURCH The Electoral Roll for 2024 stood at 151 members as at December 2024. OPERATION OF THE PAROCHIAL CHURCH COUNCIL The PCC met 7 times during the year, some of work being done by committees in inteNening months. The PCC Commrttees are.. Slandlng & Finance Commlttee: This commttee exists by law with power to transact the business of the PCC beeen meetings. It also considers financial needs (including preparation of the annual PCC budgeti, plans PCC meeting agendas, and makes recommendations for PCC consideration as it sees fit. Its membership comprises the Vicar and the Associate Vicar, the Church Wardens, the Treasurer, the Buildings Manager, and one nominated member of PCC. Ml8slon Support Group: This group seeks to support and promote Christian mission outside the parish, nationally and overseas, through 8ducation, encouragement of vocation, prayer and financial giving. The main mission agency links it has fostered during this y6ar are the Bible Society, the Church Pastoral Aid Society, Tearfund, InterseNe, Overseas Missionary Fellowship, Church Mission Society, Spirit in Sport, Hope into Action and Miif(ary Ministries Intemational. Nursery Management Commlttee: This committee oversees and guides the work of the Nursery at Sllver Street in co-operation with the Nursery Manager and staff. This includes management of the budget appointment of staff, receiving the Manager's reports and consideration ofthe Nursery's needs.
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF THE YEAR 2024 Wislon st Jude's Vlslon 18: Maklng Jesus the heart of South8ea We will do this through.. Growlng Faith Cr8atsng opportunit'es to encounter Jesus, be guided by His Word and empowered by His Spirit. Offerlng Hope Becoming a beacon of hope where everyone can respond to the good news about Christ, and experience rèstoration and freedom in Him. Sharlng God's Love Rebuilding and transforming lives, community and ¢utture by sharing the radical love of God. As a church our values are simply Word and Splrlt.. Word Wé are groundèd in God's living Word as the foundation of our faith. W8 long to grow in our depth and understsnding of His Word allowing it to transform our journey with Jesus. Splrlt We are open to and eagerly desire th8 work of the Holy Spirit In our lives. We long to be known for Jesus, transforming presence at work in us. Flnan¢e8 The combined income ofthe Church and Nursery grew by 2% in 2024 to £928k. Wrth expenditure remaining steady at £905k, we generated 8 surplus of£23k. The main sour¢e ofthe increase in income was tha Solar Panels appeal which raised £45k in the fourth quarter of the year. Income and expendrture remained largely aligned over the course of the year, allowing us to make regular payments of our Parish Share and to pay the amount due in full over the course of the year. 80th Church and Nursery closed the year with a healthy Cash position. staff st Jude's has been blessed wkth a large staff team which comprises both those who are paid and those who are self-supporting. In a busy, larger church it's common for peop58 to be call6d to new roles, and 2024 was no different. During the year, Ruth Mccabe and Suzie Platt stood down as pastoral team18aders {ahough they remained part of the team) and Jess Tam5 Stood down as Anna Chaplain. Debs Smart has been on the tsam since 2021 in a variety of roles, including supporting the CYF ministry - but also stepped down towards the end of 2024. We said goodbye to Camila who had servèd as an intern for a second year, and welcomed Abi to the DY (Discipleship Yearl programme. Hannah, who was a DY student in 2023124, stsyed wrth us into the Future Youth scheme. In addition, we welcomed Charlotte, Thamas and Hannah to the admin team, covering the role of Administrator, whilst Sonam was on maternity leave. Jack Cross's role with St Simon's church came to an end, and he took on the role of DY Co-ordinator, alongside continuing to serve the youth at st. Jude's, and across the city. This year the DY scheme joined wf(h Harbour church, and has 6 intems across 4 churches - further churches are looking to join the scheme, which goes from strength to strength. During the year, our vicarAdam took some time away from ministry to help with a heatth condition. During the time, the chureh continued to thrive and he returned refreshed and renewed for the season ahead. In February the staff tèam attended the New Wine Leadership Conference which was a time of refreshment and renewal for all. The teaching was excellent, as was the opportunity to meet others from across the nation in similar contexts and settings to St Jude's to share resources and ideas.
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF THE YEAR 2024 (CONTINUED) Wor8hlp Our pattem of worship on a Sunday and during thè week has remained unchanged in 2024, although as in previous years, we've continued to see new people join us at all 4 of the regular church services. Our Midweek seNice covers the lectionary readings set by the Church of England. In the morning seNiCèS on a Sunday 19am, and 10'.451, we began the year by following the Bible Society's new course on the book of Romans. In the summer we spent time walking through the Sermon on the Mount and in the autumn, wespent time reflecting on our values of Word and Spirit. At the 6V6ning seNice, we started the year in the letters to the 7 churches in Revelation, In the summer had a s8ri8s of talks asking the Lord what He was saying to the church, and in the autumn looked at some of the qu8Stions Jesus asked. Our sung worship life continues to be supported by a large number of hardworking volunteers. We are so blessed by their desire to sèe us, as 8 comrnunity, continue to grow and develop the worshlpping life of the church. Dwell has continued throughotst 2024 as a f8ntastie partnership between churches, gath8ring tog8th8r to worship. These continue to be hosted at St Jude's, but led and attended by Christlans from across the city. Prayer Prayer remains at the heart of what we do as a community as w8 try to becom8 mor8 intentional about creating space every time we meet to encountèr God and come befor8 Him in prayer. Our termly prayer gatherings continue to attract around 50 people, as we stop togetherto bring th8 tèrm and the church before God. Our Hope Cafe team are seeing more people coming in from the street, seeking prayer mlnistry for a fange of issues, and we've seen some signifant and transformative healings and answers to prayer as part ofthese times. D18clple8hlp Discipleship of J8sus is core to our vision as we seek to grow in our faith. A significant resource for this w8S the Romans course, which not only saw a number of people engage wrth the book on a Sunday in a new and fresh way, but also saw the srnall groups better resourced and excited to study this book together. Our men's ministry team have ¢onts'nued thèir regular g8thenngs wrth dlfferent focuses wrthin our discipleship strategy each time they meet. In July, a group of 30 members of St Jude's attended the New Wine Festwal in Shepton Mallet. A highlight was the teaching offered by Bishop Ruth from Chichester diocese.
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF THE YEAR 2024 (CONTINUED) Ministry Children and Famllies The three main elements of our work with children and families are Sunday childr6n's groups, Lrttle Tiddlers parent & toddler group and events for families through thè yéar. We have 94 children r8gistér6d for our Sunday children's ministry with an average weekly attendance of around 40 across the 4 groups they meet in. All our children's groups focus on storiés from thé Old Testamènt18ading into the Christmas story in the eutumn term, stories about the life of Jesus in th8 spring t8rm, and r6fl8ct on a range of topics including the character of God, how we live as Christians and what it m8ans to b8 a church in the summer term. We are fortunate to have an amazing team of volunteèrs committ6d to supporting our children's ministry on Sundays, who work hard and face a range of challenges, but who aayS show loving care and attention to the children they work with and share their enthusiasm and love for Jesus through what they do. Ov8r the past year, wè have welcomed an average of around 50 families a week to Little Tiddlets. This is a stsy & play group for parents and carers with children under 5. We share a Bible story every week and encourage children and parents to think about the meaning those stories may have for them. We use craft activities and sensory play to reinforce key messages from the stories. Many of the families who come to the group have also attended other events at church throughout the year and some havé b6come regular members of our 10.'45 congregation. Across the year we have met with children and families through a range of one-off events and activf(ies, Sn¢ludlng our Summer of Fun sessions, our annual Crèam Tea in September and our Light Night in November. We use these events to show our church Is a welcoming place for children and families and lo share the love of God with them, and we also slgnpost people to other ways in which they can become more involved in the life of our Church. We held our second Flowers & Flzz night in the autumn term, with the aim of giving mums the opportunf(y to be r8fresh8d through rest and relaxation with friends and through hearing stories from mum$ in our church family of how God has worked in their lives. In the summer term of 2024, we ran our first Wonderfully Made parenting course for parents of ¢hildren under 18 months. This course gives space for new parents to share the joys and challenges of parenting and to consider some of the big quèstions parenthood raises for them about faith and the values they want to share with their Children. We had a core group of 8 parents who attended the course, all from either our 10'.45 congregation or Little Tiddlers. The group spoke of their appr8ciats.on for the opportunrty to think and talk about faith and several have expressed an interest in Alpha.
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF THE YEAR 2024 ICONTINUED) Youth Equip.. The primary aim of Equip is to provide young people with the tools they need to nurture their relationship with God and take ownership of th8ir discipleship journey. We are still seeing frurt from change in age range in 2023. It has been incredibly succéssful.. it OP6ning up more meaningful end engaged conversations, leading to visible growth in areas such as prayer, and allowed young people to put into practice the biblical knowledge they already possess. Be Group.. Be Group is a dynamic group wh8r8 we delve deeper into the tougher questions surrounding God and falth. Meeting on Sunday evenings, Be Group has maintained regular attendance of around 10 young people, with numbers reaching as high as 19. This year, B8 Group's focus has been on helping parlicipants read the Bible ft)r themselves, draw personal biblical insights, and apply thes8 truths to their everyday lives. We've also noticed rising need to address mental health concerns among the youth, particularly anxiety and depression. In response, we are planning to bring in experts to guide us and adapt our sessions to address these issues more effectively. We are also transitioning towards empowering the youth in Be Group to lead some ofthe sessions themselves. High Tide.. High Tide is a monthly event hostéd across various churches in the Portsmouth area, extending as far as Emsworth and Porchester. The event includes food, games, worship, and talks. High Tide has experienced significant growth this year, with attendance nearly doubling from 40-50 in late 2022 to a regul8r turnout of around 80 young p8opl8. Despit8 the challenges that come with increased numbers, we've been able to maintain consistent attendance. High Tide is especially valuable for young people from churches with smaller youth groups, as provides an opportunlty to conn8ct with a large communf(y of their peers and worship together. tt also helps young people step outside th8 confines of their own church, meeting Others from diverse backgrounds and varylng stagès of falth. The event fosters a sense of unity, with a shared focus on God's plan for His Kingdom In the city, rather than just individual church communities. Additionally, a 4-day Hlgh Tide resldentlal took pl8¢& in 2024, wrth 57 young P80pI8 attending, 17 of whom were from St Jude's. This was an excitlng opportunity for some youth who don't règularly attend youth groups, to connect and become more inVoed in our various programmes. Eden.. Eden 1$ our Portsmouth-wide initiative we launched in partnership wrth Kings Church. This project runs 1¢8 month and aims to provide a safe space where young people can experience God's peace-whether that's through playing pool, enioying a game of Mario Kart, or unwinding over pizza after a challenging week. Although Eden is still in its first phase of development (Just st Judes + Kings), we are already seeing a steady turnout of around 25 young people. Our goal is to bulld a solid foundation for Eden and ev8ntually promote wlthln local schools. W8 also hop8 to involve more churches in this initiative moving forward. Verve.. We introduced VeNe as we saw that running separate youth socials was becoming a drain on the team's time and was limiting due to numbers. We combined SOS and our older youth social to create Verve. This allowed our team to serve only once a month, rather than le8, and gives us thè ability to do more wrthin the social. The primary focus is to create a safe and easy place for the youth to experience church. It's aimed to be lots of fun but also something our youth can feel Comfortable inviting non-christian friénds to. Once we establish relationship with new youth, we aim to invite them to Eden or Be Group with each group taking them into a new level of discipleship. Wè are getting betr488n 15-25 joining us each time.
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF THE YEAR 2024 (CONTINUED) St Jude'6 Church Nur8ery: The year started well with an Ofstéd inspection on 18th January which returned our Nursery's raling to Good. The inspector started her report by saying, 'Childrén are happy and settle well in this nursery.. She commented that the support in placè for ¢hildren with Special Educational Needs or Disabilities was excellent. There was also praise for the manager and staff tèam who were 'devoted' to reaching out to fgmilies. She noted that the processes in place for stsff supervision had be6n strengthened. This inspection provided a much better picture of the nursery and we were very pleased wtth the procéss and the outcome. During the year we provided places for around 90 children and welcomed back our deputy Ms Whittl6, who had been away on maternrty leave. We appointed a new Special Educational Needs Coordinator from wrthin th6 staff. It was again a year in which rt provéd difficult to attract new trained staff. The governmenfs increase in th8 living wage, which the PCC requires the Nursery to rnatch, has put extra pressure on the finances ofthe Nursery. The building was improved with a new kitchen install8d in July. This has been much appreciated by all the stsff. New heatsrs were installed to give faster and more targeted heating across the rooms. The business manager has worked hard to transfer the finances onto the Sage accounting system. This is the same system as is now used by the church finances and will help with reports and the end of year accounting. The Nursery Managément Committ88 met six limes throughout the year. Church visits to deliver stori8s and songs happèned weekly except in the summer holidays. The Nursery came to Church for their end of year and Nativty services, which were well attended by parents.
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF THE YEAR 2024 {CONTINUED) Pastoral Care This year saw the departuré of Jéss Tams as Anna Chaplain as shè moved into hér new job. We are gratefijl for all that Jess achiev8d in her tim8 leading th8 pastoral care across the church. It was decided that we would continue to provide car8 using our own network of pastoral visitors and havé for the moment stepped back from the Anna Chaplaincy model. In doing thls we are making more use of our ChurchSuf(e database to record and coordinate our pastoral visiting and support. We now have a Pastoral Core Team who meet monthly to r6vi8W the notes from visits alongside a wider Pastoral Visrting Team who meet once a tem. Visrts ar& made regularly to those who are housebound and Holy Communion is taken to homes and care homes. The ministry to the elderly in our community is focussed around our Monday Féllowship, meeting *ice a month, and the rnonthly Lunch Club, which are run by Suzie Platt and Ruth Mccabe. W& are gratèful to our cooks and all who support these times when people come to share fellowship and sp6nd tim8 with one another. Communlty and Wltne$$ In January 2024 we held our regular Alpha cour8e. This was well attended, with our Holy Spirit day spent at st Thomas, Church in Bedhampton. In the last five years we have helped 67 people through this exce118nt course. We continued even in those difficult Covid years when courses were held online. In running th8s8 courses we rély on the Life Groups for cooking our shared meal. It has been such a blessing to see lives transformed by encounters with Jesus and his Holy Spirit. The Eco Church Team has been focussed on fundraising for the church solar pan81 appeal. The teem planned the rollout of the fundralsing and the details of the information leaflet. In September the team organised a Gardening for Wildlrfe talk by the Hampshire and Isle of Wight Wildlife Trust whlch was open to the local communrty During the year they introduced food waste bins to our krtchens and there were regular eco tips included in our weekly newsletter. There were several Wildlife Walks organised, with 17 people joining the walk in May at Farlington marshes when a group of harbour seals were spottèd. Frlday Frldge continued to provide hot meals and drinks and a warm Space every Friday through the year. This year rt celebrated the 18th birthday of Fridge with a return of Mark Rodel who was there when it first began. We were also joined by Crty Councillors who appreciate the important Contribution Fridge makes. Over the course of the year we provlded 1861 meals to an average of 36 guests on 8ach evenlng. The aim now 15 to provlde a healthy option meal once a month, as well as our regular fare of bacon rolls and cheese toasties. It was a year in which we tightened up our safeguarding procedures for Fridge 8S Several new team members joined. This ministry has attracted grants which fund most of the costs involved. Our Llnk Events. which seek to reach out to those in our communty, this year started with a successful We Love Southsea pancake event on 17th February. This was followed in the summer term by a Comedy Night at the end of June, and the church garden opening for the Saturday of the Food Festival. Then on 21st October we offered a very popular Cream Tea wrth lots of fun for th8 childrèn, along with our Light Night event on 21st November. Our Receptlon Team kept the church open from 108m to 12noon nearfy every weekday through the year, offering hot drinks to any in our communty who were in need. This is a registered Warm Space Wrth Portsmouth City Council, who are very grateful for our presence in the community. The volunteers who s8Ne at reception deal with a wide varièty of requests and often help people looking for more information about support.
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF THE YEAR 2024 (CONTINUED) Mi88ion Support Our Mission Support Group met three times during the year to pray for our mission partners, allocate funds for mission and plan for the provision of information to be passed onto the church. The group comprises six supporters of our key mission links. In 2024, a totsl of £29,000 was donated trj our misslon partners and other local missions from the giving to the church las our tithed support for external mission). Regular updates and special mission- related services were held throughout the year, which featured videos from our three main mission partners - CMS, Interservè and OMF and a presentation by Compassion UK together with information on all our mission.links on Global Connection Sunday. Occasional Offices We love meeting wtth members of our community through our occasional offices, although we tend to see more members of our church family for these. In 2024 we had 1 wedding, 2 funerals in the chvrch and 11 funeral Sei¢9S in Crematoriums, and baptised 12 children and 5 adults. Safeguardlng & GDPR Safeguarding remains of utmost importanc8 to us at St Jude's. The Safeguarding and Pastoral Advisory Group ISPAGI meet r8gularly to discuss individu85s and policy, to ensure everyone is kept as safe as possible. As part of our commitment to protectsng the security and privacy of our church community, we have implement8d emall security measures recommended by the UK governmenvs National Cyber Security Centre INCSCI. These ensure that emails are genuine, authenticated, and encrypted as they traverse the internet. The NCSC is actively monitoring our email security to verify compliance with these standards. This significantiy reduces the risk of fraudulent emails being sent in our name and legrtimate emails being intercepted, whl¢h is crucial for safeguarding individuals contacting us from countries where they may face persécution for their faith or asso¢iations with foreign religious organisations. Wlder Deanery Adam has continued to r&pr8sent the church at both deanery events and on the deanery Standing and Finance committee. We have kept our close links with St Simon's and hosted a shared meal for Maundy Thursday at st Jude's, welcoming membèrs of St Simon's and St Margareys as well as our own congregation. In addition, St Margaret's church continues to grow and develop - and Neil Smart has remained as training incumbent for Fran, in his sécond year of euracy. St James Milton appointed a new parish priest in the early part of 2024, which relieved some of the pressure on clergy in the rest of the dpanery. Under the leadership of +Jonathan, the diocese launched a new vision, to be a rejuvenats'ng communty of Jesus- centred, Kingdom-seeking disciples. With this new vision in place, work will now need to be done on the deanery vision, to ensure it meets with the strategic priorities.
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF THE YEAR 2024 (CONTINUED) st Jude's Church Building st Jude's is a Grade11 Church Constructed by Thomas Owen to be the central building of Victorian Southsea. As a fellowship we love our church as a warm and loving centre of our community. Our fellow residents of Southsea, of which we strive to make Jesus the heart, sèe our tower and spire as a beautiful and permanent beacon that represénts God's love for them. Mariners have for over 150 years used St Jude's a5 a navlgatlon mark calllng them home, often after many ThnthS away. The Church was Southsea's equivalent of St Paul's Cathedral, standing proud and defiant among thè dèvastation of the blitz. Southsea would be infinrtely poorer if the building was no more. However it requlrÉs constant maintenance and updating if the church is to remain safe, welcoming and fit for purpose. Alongside this continuous work is our desire to drive towards 'net zero. in our greenhouse gas emissions. 36 solar panels on the south side of the church will be a rnajor contribution. The designs have been made and approvals granted and we anticipat8 that 2025 will see their installation alongside some addrtional work to our building In 2024 the main piècé of work w6 did was in the replacement of our lighting in the main reception and garden room areas with effi¢iènt LED. Minor areas of repairs to PainOrk were also carried out, and plans for other areas ol restorakn.on In 2025 were put in place. We remain gratelul to M8rvyn Cowdrey, our volunteer bulldings manager - for his oversight of the bsjildings on behalf of the PCC. Flnanclal revlew St Jude's returned a small surplus of 23k on the ¢ombined activities of the Church and Nursery in 2024. The combined income grew by 2% to £928k, Comprising £478k of Nursery income and £450k of Church income. Nursery income was the result of fees and grant in¢ome. Church in¢om8 groW(h from incr8as8d voluntary giving and grant incom8. Church grants and the awarding bodies, to whom we extend our gratrtudè, are shown in Note 3 ofth8 Financial Ststement. Both Nursery and Church had staff costs that were consistent with the prlor year. At 31 Dècember 2024 there were total funds of £1,056,814 of which £33,337 was endowment, £406,083 was rèstricted, £561,538 was designated and £55,856 was unrestricted. 80th Church and Nursery maintained a stsble cash posrtion over the ¢ourse ofthe year and both wer8 able to make pay rises to staff in line with inflation. Reserves Policy It is PCC policy to maintsin a balance of 2 months of operating costs on unrestricted funds lif possible) to cover emèrgency situations that arise trom time to time. St Jude's Church holds £46,125 in 8 designated fund account and the Nursèry holds £50,000 in a designated fund account to meet this requirement. The PCC reviewed this in 2024, and have agreed to keep the reserves at these levels into 2025.
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 RISK ASSESSMENT The Church is encouraged to consider what risks there are to the fulfilment of the charitabl8 purpos8 of the organisation. This undertakn'ng has focused on the physical and practs'cal rather than the spiritual. Loss of the building There would appear to be several options to ensure continuity of Sunday worship should th6 building be rendered unusable for whatever reason. There are 0 schools in the immediate vicinity with both of whom st. Jud8's has good r8lations. Thé Church also owns Silver Str88t Youth Centr8 which could be used, albeit with some adjustment by the Nursery who are the primary users. St. Jude's School would also be an option, albeit that the building is outside of the PaTtsh. It is suspected that the provision of a venuè for both the Church Officès and the various ev6nts that take place in the church building might be more probl8matie. Any long-term loss of use of the building might be ameliorated by thé leasé of a shop within Southsea Shopping Centr8. Since the enforced closure resulting from the Covid-19 crisis thè Church has used technology and social media to provide parishioners With virtual access to worship s&NieÉs, groups, bible readings and reflections. The Church has upgraded tslephony to enable staff to work remotely during periods of lockdown, and this Can be utilised to ensure the efficient running of the Church Office when staff are not able to access th8 building. Flnanclal Overall reserves are ¢onsldered sufficient to deal with most unfor8se8n financlal requlrements. The bulk of reseNes are contained in fijnds that the PCC has designatéd for partlcular purposes, mainly assoclated wlth the Nursery. The Church has comprehensive insurance which should cover more general ¢atastrophi¢ events. The Church maintsins a portlon of Its fund$ in readily accesslble accounts to meet Immedlate demands. 10-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA PCC MEMBERS REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 MEMBERSHIP OF THE PAROCHIAL CHURCH COUNCIL PCC members are etther ex-officio or eleded by theAnnual M88ting in accordanc8 with the Church R8pr8sentation Rules. The PCC consisted of. Vlcar Adam Tams Church Wardens David Bacon - Vice Chair Jane Portlock Diocesan Synod Representatives Bethan Fog811 Debbie Sutton Deanèry Synod Representatives Rosie Fry Jos Mc8be A880ciate Vloar Neil Smart Elected Member8 Jan to Oec 2024 Helen Bolton Richard 8onon- Treasurer Rob Drake Elaine Hallett Mark Neck Mark Sandland Elected Members 8tepped down In 2024 Sam Adie Richard Portlock Elected Members appolnted In 2024 Mervyn Cowdrey- Buildings Officer (Co-opted member appointed In 2023} Homnath Dhakal Signed on behalf of the PCC on 28 Aprll 2025 Rev Adam Tams, Chalr 11
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA STATEMENT OF PCC MEMBERS RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The PCC members, who are also th8 trustees, are responsible for preparing the PCC Members Report and the accounts in a¢cordance with applicable law and United Kingdom Accounting Standards (Unrted Kingdom Generally Accepted Accounting Practicè). The law applicablè to chari*'8s in England and Wales requires the PCC members to prepare accounts for each financial year which give a true and fair vi8w of the state of affairs of the PCC of St Jude and of the incoming resources and application of resources of the PCC of St Jude for that year. In preparing these accounts, the PCC members are required to- select suitab18 accounting policies and then apply them consistently., obsèN8 th8 m8thods and principles in the Charities SORP., mak6 judg8m8nts and estimates that are reasonable and prudent., state whether app15cabl8 accounting standards have been followed, subject to any material departures dlsclosed and explained in the accounts., and preparè the accounts on the going concern basis unless it is Inappropriate to presume that the charty will continue in operation. The PCC members are responsible for keeping sufficient accounting records that disclose with r8asonable accuracy at any time the financial position of the PCC of St Jude and enable them to ensure that the accounts comply wrth the Charities Act 2011 and ttrte Church of England Accounting Regulations. They are also responsible for safeguarding the assets of the PCC of St Jude and hence for taking reasonable steps for tha prevention and detection of fraud and other irregularitiès. 12-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA INDEPENDENT EXAMINER'S REPORT TO THE PCC MEMBERS OF PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA I report to th8 PCC m8mb8rs on my examination of the financial statements of Parochial Church Council of St Jude, Southsea (the PCC of St Jude) for the year ended 31 December 2024. Rèspon$lbilities and basls of report As the PCC members of the PCC of St Jude you are responsible for the preparation of the fi'nancial statements in accordance wrth the requirements ofthe Charities Act 2011 (the 2011 Acti. I report in rèsp8Ct of ry examination of the PCC of St Jud8's financial statements carried out under section 145 of th6 2011 Act. In carrying out my examination I hav8 followed all thÈ applicable Directions given by the Charty Commission under section 145(5llb} of the 2011 Act. Independent examtner's statement Since the PCC of St Jude's gross income exceeded £250,000 your examiner must be a membèr of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertak6 the examination bècause l am a member of the Institut& of Chartered Accountsnts in England and Wal8s, which is one of the listed bodies. I have completed my examination. I confirm that no matters hav8 Come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting re¢ord$ were not kept in respect ofthe PCC of St Jude as requlred by section 130 of the 2011 Act,. or the financial statements do not accord with those re¢ords', or the financial statements 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 gwe a true and fair view which is not a matter considered as part of an ind8p8ndènt éxamlnat'on. I have no concerns and have Come across no other matters In Connedion with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the financial statements to be reached. Timothy Mlllett FCA Carpenter Box 53 Kent Road Southsea Hampshire P05 3HU United Kingdom 13-
PAROCHIAL CHURCH COUNCIL OF STJUDE, SOUTHSEA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unr•stwlct•d Unr•stricted R•strfcted EndowThht lynds funds lundi o•n•r•l d•slgrntsd 2024 2024 Total Unr•¥trfetsd UnMtrfct•d R•strlct•d En¢knvm•nt funth funds funds lundx g•n•ral d•slgnotsd 2025 2024 2024 2023 2023 N¢4•s Incom• from.. Don81ions and leqaote6 CharitaYeA¢tMlle8 Church Adfvillgs Nursery InY&*ments 312,418 86,204 399.088 298,798 3,135 47.818 349,749 27,186 5,798 33,246 477,681 17,813 21.184 287 7.529 28. 514.L t6,994 477,fj81 514, 15,497 14.¥X) 714 542 838 rot•l In¢om• arnl •nttowm•rts 355,701 479,289 92,552 927,828 384,882 518,180 55,887 838 J9,787 Chanta8 ade& 343,343 507.022 54,959 5,324 334,eCe $04,04e 68,109 ,761 Net uainsll1088esl on investments 11 28 57 I,ie8 13331 16871 2,5Ce 2,874 Not kncothg royourc•s bofore trwn5f•r5 11,758 127,7CfjI 37,e50 23.398 1,444 13,801 112,8891 3,344 5,7CO
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA 8TATEMENT OF FINANCIALACTIVITIES ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrtsd Unrostrlcted R•strkt•d EThJ¢Avn fuThJs lunds ltsnd¥ general d•slgnat8d 2024 2024 Totsl Unf•Strfcted Unrnstrfct•d R•strlctsd Endowm•nt lunds funds funds funds genoral d•sl9nat•d 20LI 2023 Total 2024 2023 2023 2023 N•t Incorthi r•50urc•¥ b•for• 11,758 127.7051 37,850 1,895 23,398 1.444 13,801 112,8891 3,344 5,7 GroMtr8nif•rn bthoon fundfj 701 1s.ooi 18861 30.636 130.6361 838 18381 N•t nxv•m•ntln fund8 12,459 133,3251 43,455 23,398 32,080 I16,5} 112,0511 2,5C 5,7C Fund baLqnce8 al 1 Janury 2024 43,397 594,863 362,628 32,528 1,033,416 11,317 811,898 374,879 30,022 1,027,718 Fund balane• at 31 O•e•nknr 2024 $61,338 4Ce.C3 33,337 1.ose,814 43,397 594,863 2,628 32.528 1.U33,416 The ststfrment of finan81 i¢tivitièJ in¢lud•s oll galn8 and lo• recoonlÉed In the yeer. The 8tattrmont of flnandal sthrtie8 includèb all oa5n8ind10S8O0 rÉconigad In th8 yéar. All Incomè and èxpèrtdtture defivè from conttnuiro ?rtjvrt9. 15-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note8 Tangible assets Investments 13 14 749,363 48,718 752,332 47,824 798,081 800,156 Current assets stocks Debtors Cash at bank and in hand 15 16 355 14,559 354,690 418 13,089 249,390 369,604 282,895 Credttor•: amounts falllng due wlthln one yeai Taxation and social security Other creditors Deferred income 5,340 16,984 88,547 4,219 21,534 3,882 17 18 110,871 29,635 N8t current asséts 258,733 233,260 Totsl a8$ets leJ8 cuirent Ilabllltle• 1,056,814 1,033,418 Capltal funds Endowment funds Income fundfj Restricted funds Unrestricted frjnds - designated Unrestricted funds - general 20 33,337 32,528 21 406,083 561,538 55,856 362,628 594,863 43,397 1,058,814 1,033,416 The accounts were approved by the PCC Members on 28 April 2025 Rev Adam Tams, Chair 16-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note8 Cash flows from operating a¢tlvlties Cash generated fromllabsorbed by) operations 25 87,487 17,275) Investing actlvitles Proc88ds from disposal of investments Inv8stm8nt income r8c8ived 23,444 16,994 17,813 Nèt cash generatod from Inve•tlng actlv5tl08 17,813 40,438 Net CA8h used In flnanclng actlvltie8 Net Incrèase In Cash and ¢a8h equlvalents 105,300 33,163 Cash and cash equivalents at beginnlng of year 249,390 216,227 Cash and ca8h equlvalent8 at end of year 354.690 249,390 17-
PAROCHIAL CHURCH COUNCIL OF STJUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charfty Information Parochial Church Council of St Jude, Southsea is a registeréd charity in England and Wales. The Trustees are the members of the PCC named in the Annual Report. Th8 church of St Jude's address is Kent Road, Southsea, Hampshir6, P05 3EL. 1.1 Accounting conventlon These accounts have been prepar8d in accordance with the Church Accounting Rogulations 2006 and FRS 102 °The Financial Reporting Standard applicable in the UK and Republic tsf Ireland" I'FRS 102.), 'Accounting and Reporting by Charities. the Statement of Recommended Practicé for charities applying FRS 102 (effective l January 20191, th8 Charities Act 2011 and UK Generally Accepted Accounting Practice. The PCC of St Jude is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in st8rling, which is the functional currency of the PCC of St Jude. Monetary amounts in these financial statsments are rounded to the nearest £. The accounts have been prepared under the historical cost convention, modified to include the rèvaluation of certain assets and financial instruments at fair value. Th8 principal accounting policies adopted are Set out below. 1.2 Golng concern At the time of approvlng the flnaneial statements, the PCC members have a reasonabl8 expectation that the PCC of St Jude has adequate resourcès to continue in operational exlstence for the foresèeable future. Thus the PCC members continue to adopt the going concern basis of accounting In preparing tho financial statements. 1.3 Charltable funds Unrestricted funds are avallable for use at the discretion of the PCC members in furtheranc6 of their charitable objectives unless the funds have been designated for other purposes. Designated funds comprise fijnds which have been set aside at the discretion ofthe PCC members for specific purposes. The purposes and uses of the designated funds are set out in the notes to the 8ccounts. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to spectfic conditions by donors that the capital must be maintained by the PCC ofst Jude. 1.4 IncomSng resources Income is recognised when the PCC of St Jude is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probab18 that incom6 will be r8ce¢ved. Collections, planned giving and cash donations are recognised on receipt. othor donations are recognised once the PCC of St Jude has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacles are recognised on receipt or otherwise if the PCC of St Jude has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. All funds raised by parish activities such as the bookstall are accounted for gross. Rental income from non- investment propety and room lettings is recognised when the rental is due. Parochial fees are accounted for when due. 18-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies (Continued) 1.5 Resources expended Costs are eharged directly to the most 8ppropriate activity or category of expenditure and apportioned wh8r8 necessary. Grants and OUard giving are accounted for in the SOFA when paid, unless an obligation, whether constructive or legal, exists to the recipient in accordance wrth the Charities SORP and FRS102. Parish share and other costs directly relating to th8 work and activrties of the Church are accounted for when they are incurred or become due and payable. 1.6 Tanglble fixed assets Consecrated and beneficed property is èxcluded from the accounts by S1012lla & c) of the Charf(ies Act 2011. Moveable church furnishlngs held by the Churchwardens on special trust for the PCC and which r&quire a faculty for disposal ar8 capitalised at cost and written off over their usefvl economic life other than where insufficient cost information is available. In this case the item is not capitslised, but is included in the Church's inventory. All expenditure incurred during the year on consecrated or benefice buildings, whether for maintenance or improvement, is written off as expenditure and separately disclosed. other Tanglble fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depr6ciation and any impairment losses. Depreci8tion is recognised so as to write off the cost or valuation of assets less their residual v8lue$ over their useful liv68 on the following bases.. Freehold land and bulldlngs Fixtures and fittings 25% straight line or reducing balance Freehold land is not depreclated. The PCC has decided not to provide depreciation on freehold property held as fixed assts as it regards thé buildings as having a high residual value. The gain or loss arising on the disposal of an asset is determined as the difference bethen the sale proceeds and the carrying valu8 of the asset, and is recognised in the statement of financial activities. Individual rtems of equipment with a purchase value of under £3,000 are written off when acquired. 1.7 Impalmient of fixed assets At each reporting end date, the PCC of St Jude reviews the carrying amo¢Jnts of its tangiblè assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extènt of the impairment loss lif any). No such indications were noted. 1.8 St¢xks stocks are stated at the lower of cost and net realisable value. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-tem liquid investments wf(h original maturities of three months or less. 19-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies {Continued) 1.10 Financial instruments Th6 PCC of St Jud6 has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of tts financi81 instrum8nts. Financial instruments are recognised in the PCC of St Jude's ba18nce sheet when the PCC of St Jude becomes paty to the contractual provisions of the instrument. Basic Ilnancial 8ssets Basic financial assets, which include debtors and cash and bank balancés, are measuréd at transaction price including transaction costs. Ba8lc flnanelal Ilabllltles Basic financial liabilities, including eradrtors ar• recognised at transaction pri¢e. Dorecognitlon of financigl liablllti8S Financial liabilities are derecognised when th8 PCC of St Jude's contractual obligations expire or are discharged or cancelled. 1.11 employee benefft8 The cost of any unused hollday entlement is r8cognised in the period in which the employee's sgrvices are received. Termination benefrts are recognised immediatèly as an expense when thé PCC of St Jud8 is demonstrably cornmitted to terminate the employment of an employee orto provide temination benefits. 1.12 Retirement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Contributions are paid to NEST the workplace pension set up by the government. CrStical accountlng estlmates and Judgement8 In the application of the PCC of St Jude's accounting policies, the PCC members are required to make judgements, estimates and assumpts'ons about the carrying amount of assets and liabilrties that are not r8adily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual r8suIts may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting 8Stimates are recognised in the period in which the estimate is revised where the revision aff8Cts only that period, or in the period of the revision and future periods where the revision affects both current and future periods. -20-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTE8 TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 310ECEMBER 2024 Iorn• fromdonatknns and Unr•strict•d Unr•strfcted R•stwlcted nds funds funds g•n•ral d•ilgn•t•d 2024 2024 Tot41 Unr•strtct•d Unr05twlctsd Re5trkted lundj 9•rnI dmlgnatsd 2023 2023 2023 20rd Donitlon8 ond glts Legaue8 Grgnts 3Ce.249 1.577 4,592 46, 3,320 1,577 44,191 290,CQI 1,040 7,757 3.135 295,(X 1,040 53,7C 39,SE6 45,948 312,418 86.204 399.088 298,798 3.1 47,816 349,749 arAnts Intern Schemè VwaliNsSupport Grant Listed Places ol FshIpGrant Nallonai Chui¢h Energy Cost Grant st Simon'6 Joseph RankTru6t Archbishop's Cwnai- The Ministry Expeden(e Scheme Archbi8hop'8 CLyJnal- Future Youth Debpment Grant Otrher 3,5C 1,0 3.0 1.200 42 4,529 3,WO 4,571 3,0 7,0 10,0 10,3 13,628 10.( 18.630 6.299 170 10,1 18,6W 6,299 4,207 10.CNJO 10.X 13,628 218 4.037 228 39.599 44.191 7.757 45,948 53,7 21
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTE8 TO THE FINANCIAL STATEMENT8 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 In¢•Th from¢hAtr1tAbl 0Ctlvftl•s Urttrd Unrostrfet•d RtCt•d nd% furKIE fundj ••n•rnl d•slgnat¢d 2024 Tfjtsl Unr•strtel•dUnrnthl¢t•d R•strl¢t•d funds funth y•n•ral d•slunat¢d 2W23 2023 2024 2024 202) 2023 Chur¢ sale efocths Anclllary Iraoing Ircam¢ her In¢ome 18.110 lo.3 1.573 262 4,798 20, 170 10.503 2,573 7,473 9.247 4.464 7.529 15.269 9,247 Nurn•ry Service8 provlded under ntract other Income 476,399 1,282 476.399 1.282 J13,258 513,258 27,186 477.943 5.798 510,927 21.184 514,331 7,529 543,044 -22-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 IDcomB frorn Inva1 Unr•strlct¢d Unr•strletsd R•strlct•d Enth)wThnt funds futKIs lund• o•n•Yg1 d•slgn•t•d 2024 2024 TotAI Unr•8trlctsdUnr•trtctsd Restridqd Endowff funds funds fvnds g•n•ral dNlgnatsd 2023 2023 T4ial 2024 2023 2023 2023 Rent81 Income Income from unl181 inveÉtmen18 Intereat fhabI0 1S,300 15,300 Id,9 14,9 275 271 443 Y2 838 1,651 443 197 15.497 17,813 14.90) 714 $42 16.994 -23-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on charitable activities Church 2024 Nur8ery 2024 Total 2024 Church 2023 Nursery 2023 Total 2023 Direct costs staff costs Depreciats'on and impairment Church overseas Home mission, appeals and other grants Parish quota and clergy costs Church building 92 Marmion Road Mission and support Events Church management and administration Nursery premises costs Educational equipment and support Other nursery costs 126,025 385,246 511,271 143,246 386,303 529,549 2,018 22,498 951 2,969 22,498 2,016 20,639 1,268 3,284 20,639 12,470 12,470 10,962 10,962 127,319 51,359 1,874 51,622 12,853 127,319 51,359 1,874 51,622 12,853 97,682 87,232 1,532 42,361 7,055 97,682 87,232 1,532 42,381 7,055 17,082 17,082 43,052 9,073 9,073 43,033 43,052 43,033 23,599 19,526 23,599 19,528 19,882 25,425 19,882 25,425 425,120 472,374 897,494 421,798 475,911 897,709 Share of support and governance co8ts18ee note 7) Governance 3,915 3,915 7,830 5,323 3,729 9,052 429,035 476,289 905,324 427,121 479,640 906,761 Analy818 by fund Unrestricted funds - g8n8ral Unrestrictsd funds designated Restricted funds 343,343 343,343 334,606 334,606 30,733 54,959 476,289 507,022 54,959 24,406 68,109 479,840 504,048 88,109 429,035 476,289 905,324 427,121 479,640 906,761 -24-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support Costs Support Governance costs costs 2024 Support costs Governance costs 2023 Accountancy and Independent Examination fèes 7,830 7,830 9.052 9,052 7,830 7,830 9,052 9,052 Analys8d beteen Charitable activities 7,830 7,830 9,052 9,052 Governance costs includes payments to the ind8P8ndent examiners for their independent examination of £2,115 plus Vat. Net movement In fund8 2024 2023 Net movement In funds is stated after chargingllcredttlngl Depreci8tion of owned tsngible fixed assets 2,969 3,284 PCC Members None of the PCC members {or any persons eonneeted with them) received any remuneration or expenses, as PCC member, from the PCC of St Jude during thè year. Clergy stipends were paid by the Church Commissioners within Church of England stipendiary guidelines. 10 Employees Th& average monthly number of employees during the year was.. 2024 Number 2023 Number Church Nursery 26 27 Total 36 35 -25-
PAROCHIAL CHURCH COUNCIL OF ST JUDE. SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Employees (Contlnued) Employment costs 2024 2023 Wages and salari6S Social security costs (less SMP rebate) other pension costs 490,769 12,266 8,236 505,371 16,122 8,056 511,271 529,549 There were no employees whose annual remuneration was more than £60,000. Remuneration of kèy management personnel The remuneration of key m8nagement personnel was as follows.. 2024 2023 Aggregate compensation 57,383 53,260 -26-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 li•lns Ind lo¥s•s Inv•tThnts Unr•strlct•d Unrnstrtctsd R•strlct•d Endo¥fflnt funds fttnds tund¥ funds g•nornI d•slynat•d 2024 2024 Tot•1 UN•strlct8d Uftr•*trfct•d R•slrl¢tsd Fndtrwrnnt funds funds lunds lun g•n•rnl d•slwAt•d 2023 2023 Totsl 2024 2024 2024 2023 GoinWIFosee$l anG on.. Revlluatlon c¢ invastrts Sale ol Inve8tment8 28 57 (3331 ise71 2,5C 1.168 1,168 28 57 1,168 13331 iee71 2.874 -27-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Taxatlon The charity is ex8mpt from taxation on its activities because 811 rts income is applied for charitable purposes. 13 Tangible fixed assets Freehold land Fixture8 and and bulldlngs rittings Total Cost At 1 January 2024 746,509 127,619 874,128 At 31 December 2024 746,509 127,819 874,128 Oepreciatlon and impairment At 1 January 2024 Depreciation charged in the year 121,798 2,969 121,796 2,969 At 31 Decembei 2024 124,765 124,765 Carrylng amount At 31 December 2024 746,509 2,854 749,363 At 31 December 2023 746,509 5,823 752,332 Freehold land and buildings comprises the Curate's house al 92 Marmion Road and the Nursery and land at Silver Street. 92 Marmion Road is jointly owned with the Portsmouth Diocesan Board of Finance under the Incumbents and Churchward8ns' ITrustsl Measure 1964. The Diocese has power of custodian trustee. Should the house be sold, the income is to be invested and used towards the provision of a house for a curate or in fumishing IL The hous8 is included at estate agents valuation of £310,000. The Nursery land and buildings in Silver Street, Southsea are jointly owned with the Portsmouth Diocesan Board of Finance under the Incumbents and Churchwardens. (Trusts) Measure 1964. The Diocése has power of custodian trusteé. The property is valued at cost of£436,509. -28-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Flxed ass Investment8 Unlisted Investments - The CBF Church of England Fund8 C08t or valuatlon At 1 January 2024 Valuation changes 47,824 894 At 31 December 2024 48,718 Carrylng amount At 31 Decembèr 2024 48,718 At 31 December 2023 47,824 15 Stocks 2024 2023 Raw materials and consumables 355 416 18 Debtors 2024 2023 Amount8 falllng du• wlthln one ye•r: Other debtors Pr•payment$ and accrued nme 10,633 3,928 4,941 8,148 14,559 13,089 17 Other Credltors falllng due within one year 2024 2023 Other credrtors Accruals and deferred income 1,779 15,205 588 20,946 18,984 21,534
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Deferred income 2024 2023 Nursery funding and fees received in advance 88,547 3,882 19 Retirement benefit schemes 2024 2023 Deflned contrlbutlon scheme8 Charge to profit or loss in respect of defined contribukn'on schemes 8,238 8,058 The PCC of St Jude operates a defined contribution pension scheme for all qualifying employees. The ass8ts ofthe scheme are held separately from those of the PCC of St Jud8 in an independently administered fund. 20 Endowment funds Endowm8nt funds r8present assets which must be held permanently by the PCC of St Jude. Income arising on the endowmént fund is included as r8stricted income. Any capital gains or losses arising on the assets form part ofthe fund. At 1 January 2024 Incomlng resource8 Tran$fer8 Galn$ and 108SeS At31 December 2024 Permanent endowments Hornby Endowment Fund 32,528 886 18861 809 33,337 Prevlou8 year: At 1 January 2023 Incoming resources Transfers Galns and losses At31 December 2023 Permanent endowments Hornby Endowment Fund 30,022 838 18381 2,506 32,528 The Hornby bequest fund is held by the Diocese on behalf of St Jude's. The interest is held in the Hornby Restricted Fund. 30-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTE8 TO THE FINANCIAL 8TATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEfiFER 2024 21 R•strlct•d fwhd$ The reElrl¢ted lund8 of th• charlty the unexpended balances ofdon8tlong grants held Qn Iru•t BubjecttQ 8peclfto ¢ondrtlon8 by donor8 a8 to they may be used. Mov•m•nt In fur Incomlrg R•Bourcw Tr•rrtl l J•r*ry 2ty2J r••our¢•8 •xp•thd Movem•nt In lundg 0rC oy•nd4d InL¥Jml yvc G•lrM 4nd a•tsnc•t 108•w 31 b•c•mb l•M••S 1024 92 Marrnlon Rtrad Church Reaevelopmenl Intern Fund (Gfft Day20111 yOTh MIon c)Jtrea¢h Miwon Glft Cby Homby Friday Fridge Solgr Panel Fund 310,000 310.wo 310,0 28.306 2,254 16,9471 ie671 12,946 2,223 (2,6481 57 12,578 5.871 24,TJ4 28,910 17.OCO 124,7461 122,7201 30,801 10.C 123.4021 P3,6821 Y4,934 8,352 945 19,034 945 2.845 2.158 838 4,589 7,519 47,186 7.723 13,696) 6.185 4.561 45,267 13,2271 1.919 374.679 55,887 16B.1091 16671 2.828 92,552 154,9591 57 406,0 The prowty. 92 Marm Rd. w88¢onated for u8e bythecur8t•. The {urch RedeVeloent fund 18 fcr dOnn891¥e lorthè churd) r•dovtrlopment pTuie&. The GM Qay 2011 m¢xtsy and grants for youth minBtry. The Youth fund prowdBsgTantsforyouth work. 31
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 21 Restrl¢t•dthnds Thwe18an gnnual gfft day. Tl40TnbY ie6trthJ fund 6upF¢rt8 oommunityworkwlhln th• p811sh. Fmday Fridge Y6 an 85tatdl8hed mlnmtry that wpport8 trnge on fv margin& The lr p1 fund 18 for In relitlon to the 1n8tallaty.on of •r pand8. .32-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL 8TATEMENT8 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 D•slgnat•d fvnd5 Th? unre8tncted fund8 ol the charlty oxnpii$& the uneKpend8d b8kgnc8s of donatMs and grant8 whlch are not subject to 6pec4fl¢ ¢ondrtion8 by (kyu8 gnd grnntors to howthey may ueed. Tlse irUde de$ignal8d lund8whlch hawe bten setade01 ot unie8trictsd lund8 by the tru8t888for 5P8cific purpose5. v•mtrnl In Oolnc••t Incomlry 1 nury 2025 r•wwc•A TMfi•f• G•ln• • èoknnc• •1 loM••1 JIThry 2 •xp•nded rwourc •x4•& 81 D•¢•mt•r Nury Fixe¢J Fund Da¢orth'on Reserve ¢ontSngeroy Res• Misiion Dis¢r•tlonary Vkars & bre 2021 Fund Monday Felknshlp 498,705 9.106 517.913 1479.e401 149.3eoi 13.2831 13331 487,285 5,823 479.027 1478,28Ql 132.0491 12.9691 28 458,W2 2,854 993 14461 547 14271 120 96,125 ,125 96,125 1,627 123,8621 22.CQ7 72 129.4701 29.3 4,301 120DI 4,101 16WI 3,441 841 267 11981 910 611,698 518,1K) 1$04.0461 130,6381 13331 594,863 479,289 1507,0221 (S.0) 28 961,538 -33-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENT8 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 I)t•dIuth IContlnu•dl The eharty oporate8 a Nur8ery at Sllver Street. The propety and the opernttons ir•1rt4ud8d a8 d•8ignated fund& Atrarfvfer io a Ilxed aBeet deolgnated bjnd ha8 been m#do W4ufval6nt lo the net bool(value of Fix¢ureB and Fltbng8 There rd a fvnd ferthtr dtrornlon 017 Hereford Road The charlty has •stabll$hod • contingency rese by transfer from the church unre5trked fund and from tt)• nur8ery ¢Jetyanated fund. The Mrd&on Oulre8ch Fund wpport8 our mbw'on partners ov8ma8 and al home ind14 the al0 Sodety, The Church Mwion Intéreerve, Marcy Shlp8, The rseas MIs8lon Fdkxsnip. Ttarfund, The Church P8&0r81 Ald Wely. The St Jude's Vicar8 and rOnI TnJ$l wa6 dosed and the funds were tran$f¢rredto PCL St Judè 1$ thè Vk8r8 and Ward8n6 2021 Desunaled Fund. Th& Monday Fellmhip Group rea¢he8ouI to lenior c4t1zB -34.
PAROCHIAL CHURCH COUNCIL OF STJUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Analys18 of net assets between funds Unrestricted UnTe6tricted funds funds genèral designated 2024 2024 Rèstrlcted Endowment funds funds Total 2024 2024 2024 At 31 December 2024: Tangible assets Investments Current assetsl{liabilities) 439,363 5,127 117,048 310,000 10,254 85,829 749,363 48,718 258,733 33,337 55,858 55,856 561,538 406,083 33,337 1,056,814 Unrestrlctsd Unrestricted funds fund8 general deslgnated 2023 2023 Restricted Endowment fund8 fund8 Total 2023 2023 2023 At 31 December 2023: Tangib16 assets Investments Current assetsl{Ilabiliti8sl 442,332 5,099 147,432 310,000 10,197 42,431 752,332 47,824 233,280 32,528 43,397 43,397 594,863 362,628 32,528 1,033,418 24 Related party trat78actlon8 Ther8 w8r8 no disclosable related party transactions during the ye8r12023 - none). 25 Cash generated from operatlons 2024 2023 Surplus for the year 23,398 5,700 Adjustments for.. Investment income recognised in ststement of financial actlvities Gain on disposal of investments Fair value gains and losses on investments Depreciation and impairment oftsngible fixed assets (17,8131 {16,9941 (1,1681 11,506) 3,284 1894) 2,969 Movements in working capital.. De¢rease/lincreasel in stocks {Increasel in debtors {D8crease)lincrease in creditors Increase in deferred income {163) 13,737) 5,458 1.851 {1,4701 13,429) 84,665 Cash generated from1(4arb*d by) opgratlons 87,487 17,2751 -35-
PAROCHIAL CHURCH COUNCIL OF ST JUDE, SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 26 Analys18 of changes in net funds Thé PCC of St Jude had no material debt during the year. -36~