Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF NEWARK ON TRENT ST MARY MAGDALENE WITH ST LEONARD
Registered Charity number 1131972
ANNUAL REPORT and FINANCIAL STATEMENTS
for the financial year 1 January 2025 - 31 December 2025
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025
Contents
- pages 3 - 4 Legal and administrative information pages 5 - 8 Report of the trustees page 9 Consolidated statement of financial activities page 10 Consolidated balance sheet pages 11 - 18 Notes forming part of the financial statements page 19 Report of the independent examiner
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025
Bankers
CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ
CCLA Investment Management Ltd The CBF Church of England Funds One Angel Lane London EC4R 3AB
NatWest plc 1 Market Place Newark NG24 1DY
Independent Examiner
Michelle Allen FCA, CTA Access Accounts Services Ltd Office 11 Navigation Business Centre Mill Gate Newark NG24 4TS
Administrative Information
There are two churches within the ecclesiastical parish boundary: Newark St Leonard and Newark St Mary Magdalene. The parish is situated in the Deanery of Newark and Southwell, in the Archdeaconry of Newark, and in the Diocese of Southwell and Nottingham.
The Parochial Church Council (PCC) is a registered charity (1131972) and its members are the charity's trustees. The members are listed on the next page.
The full name of the PCC as registered with the Charity Commission is The Parochial Church Council of the Ecclesiastical Parish of Newark on Trent St Mary Magdalene with St Leonard .
The working name as registered with the Charity Commission is Newark Team PCC . This working name is used in most legal contexts, including with CAF Bank. (The names of the individual churches have no legal standing to operate commercial contracts or undertakings.)
The PCC's name as an employer registered with HMRC is Newark Team Ministry PCC .
The address for correspondence is:
St Mary Magdalene Church Church Walk Newark NG24 1JS email: office@stmnewark.org
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025
The following were PCC members (trustees) from 1 January 2025 through the date (7 May 2026) on which the PCC approved the 2025 report and financial statements.
Ex-officio members
Rector of parish Revd Christopher Lion (chairman) (until July 2025) Curate Revd Danny Marshall Parish churchwardens vacancy (St Leonard) vacancy (St Leonard) Tony Roberts (St Mary Magdalene) Andrew Fearn (St Mary Magdalene) Synods Tony Yates (deanery synod from 18.5.23) Peter Searle (deanery synod from 18.5.23) Anne Coyne (deanery synod from 15.5.25) Elected Members Sue Dutton Angela Hatter James Howlett Claire Maydew (until 17.9.25) Cheryl Turner Kay Bellhouse Pearl Mbhele Thorp (from 15.5.25 to 11.4.26) Tamsin Bradley (from 15.5.25) Sue Rouse (from 15.5.25) Steve Turner (until 15.5.25) Sally Davies (until 15.5.25 ) Rosie Smith (until 15.5.25 ) Sheck Matsiko (until 15.5.25) Co-opted Members Ryan Cullen (from 15.5.25) Mick Pykett (from 15.5.25) *Roger Keel (from 15.5.25)
- in office at 31 December 2025
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025
Structure, governance and management
The parish of Newark on Trent with St Mary Magdalene with St Leonard evolved by means of four pastoral schemes made between 1980 and 2017. The Parochial Church Council (PCC) is a registered charity and is the body with legal responsibility for the church activities within the parish.
The two churches in the parish should each elect two churchwardens as required by statute. While all four wardens are legally wardens of the whole parish they exercise their functions primarily at the church on behalf of whose congregation they were appointed.
The PCC agreed that from 2022 all general (unrestricted) funds for which it is accountable will be treated as a single unrestricted fund without distinction between the two churches.
Aim and purposes
The PCC is responsible for co-operating with the Clergy in promoting in the ecclesiastical parish the whole mission of the Church, spiritual, pastoral, evangelistic, social and ecumenical.
Church buildings within the parish
The two parish churches are set in different and distinct geographical and social environments.
The building at Newark St Mary Magdalene is old and traditional and provides a venue for civic services.
The building used by Newark St Leonard is part of the Bridge Community Centre which is owned by the local authority and run by a management committee on which the PCC has representation. The ‘church’ part of the complex is leased by the local authority to the Diocesan Board of Finance and day to day management of that part devolves to the PCC.
The PCC is ultimately responsible for managing the fabric of its buildings (this includes a limited responsibility for costs of repairs to the external fabric of the leased area of the Bridge Community Centre). Members of both churches are actively engaged in reviewing and implementing repairs and restorations.
Objectives and activities
Office and Staffing
The PCC continued to provide a parish office in the vestry at St Mary Magdalene throughout 2025, despite building works having commenced in November 2024. Additional office space was also generously provided by Wright Vigar.
During the year, the PCC employed a Parish Administrator, Director of Music, Assistant Organist, Verger, and a Contemporary Worship Youth Team Leader. In addition, two fixed-term roles, Heritage Interpretation and Visitor Experience Manager, and Work Experience and Volunteer Co-ordinator, continued as part of the Reawakening Project, with both posts scheduled to run until mid-2027.
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025
A new Children & Families Team Leader was appointed following the departure of the previous postholder due to relocation.
The parish also continued to support a placement student undertaking theological training, who remained with us throughout the year. In September 2025, an intern joined the team through the Diocesan Intern Programme, further strengthening the ministry and mission of the parish.
Safeguarding & Activities
Churchwardens, clergy, and those appointed by the PCC have continued to monitor the safety of the premises and ensure the safeguarding of children and vulnerable adults across all areas of church activity.
Throughout 2025, construction work at St Mary Magdalene progressed as part of the delivery phase of the Reawakening Project. During this time, church activities and worship services continued at alternative venues, with the exception of the monthly 8:00am Said Eucharist. The vestry office also remained operational throughout.
The PCC records its sincere gratitude to Hope Community Methodist Church, Charles Street Methodist Church, and Mount School for their generosity in hosting worship services and other events. The support of these communities enabled parish life to continue with minimal disruption, aside from the change in location.
Worship remains at the heart of parish life. During 2025, all regular services were maintained, alongside a need for creativity and adaptability during the closure of St Mary’s. “Beacon,” a monthly after-school church service delivered in partnership with Charles Street Methodist Church, continued to flourish, attracting an average of 65 children and adults. “Little Roars” music sessions, introduced in response to the closure of St Mary Magdalene, proved highly successful and well attended.
Regular home groups continued throughout the year, alongside weekly Wednesday morning prayer meetings and “Awaken” worship evenings. Those new to the church were welcomed through termly “Newcomers’ Teas,” which provided an important point of connection and integration into parish life. Young people remained actively engaged through weekly “Hangouts” and “Ignite” sessions, while new initiatives such as “Fuel East” were established in partnership with the local secondary school. Members of the clergy and staff team also contributed significantly within educational settings, leading collective worship, school services, courses, and heritage-related activities.
At St Mary Magdalene, the Community Café continued to operate on Monday afternoons, relocating to Hope Community Methodist Church during the construction period. At St Leonard’s, several community events were held, including the annual “Easter Extravaganza” and the Christmas Fair. Seasonal courses during Lent and Advent were particularly well attended.
Despite the closure, the parish remained active in delivering a wide range of additional events, including school and civic services, concerts, festival activities, and a community pancake party. As part of the building works, guided “hard hat” tours were also offered.
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025
A key aspect of the Reawakening Project has been engagement with hard-to-reach groups, and this has seen considerable success over the year. Through storytelling sessions, speaker events, family fun days, and similar initiatives, the parish has broadened its reach and strengthened its connection with the wider community.
Ecclesiastical Connections
During the year three lay members of the PCC sat on the deanery synod, whose purpose is to provide PCCs with an important link between parishes and the wider structures of the church. Churches Together in Newark continues to be in good health, with ecumenical partnerships continuing in various forms throughout the year.
Achievements and Performance
The staff team operated effectively throughout the period of building works, adapting to new patterns of working and demonstrating considerable flexibility. In May 2025, it was announced that the Rector, Revd Chris Lion, would be leaving. During the resulting vacancy, the Curate, Revd Danny Marshall, was appointed interim leader of the parish, supported by the churchwardens and the Honorary Assistant Bishop.
Average weekly congregations increased over the year, despite services and activities being held in temporary locations. Beyond regular worship, initiatives such as the monthly Beacon after-school service attracted an average attendance of around 65, while the youth group maintained a consistent core of approximately 15 young people.
The choir continued to grow both in size and musical quality, with former scholars frequently returning outside university term time. In addition, several new band members were recruited to support sung worship at the informal Sunday morning service at St Mary Magdalene.
“Little Roars” successfully maintained engagement with families during the building works, and the parish strengthened its presence within local schools and the college. A number of individuals came to faith during the year, several of whom were baptised.
Seasonal services at Easter and Christmas continued to draw significant numbers of occasional worshippers. However, Easter attendance was affected by venue changes, leading to some reduced numbers. With St Mary Magdalene closed, the Christmas Tree Festival was once again successfully hosted in the Buttermarket.
A major highlight of the year was the reopening of St Mary’s on 21st December 2025. Within five days, the parish hosted a wide range of services leading up to Christmas Day, including the Festival of Nine Lessons and Carols, Christingle services, and a contemporary Christmas celebration. These events attracted over 1,100 worshippers and provided a joyful conclusion to the year.
The clergy and staff team continued to lead assemblies in two parish primary schools and offered regular chaplaincy at Newark College. Links with the Magnus Academy developed significantly, including involvement in the “Hope” after-school church, leading acts of worship (including a whole-school Easter communion service), and supporting the development of a school worship band.
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025
The heritage team delivered a wide range of activities engaging all age groups and successfully reached individuals who might not otherwise connect with the church. Their reports to funding bodies were of a particularly high standard and widely regarded as exemplary.
In summary, 2025 was a busy and largely successful year for the parish. It saw the completion of major capital works at St Mary’s, continued growth in participation, and a notable increase in volunteering, particularly through the work of the heritage team. The parish now looks ahead to 2026 with renewed energy and significant opportunities as the church reopens more fully to the public.
Investment policy
The short-term investment policy of the PCC is to invest restricted and unrestricted reserves in the CBF Church of England Deposit Fund. Endowment funds are held in the name of the Southwell & Nottingham Diocesan Board of Finance as custodial trustee. Endowment funds are invested primarily (but not exclusively) in the CBF Fixed Interest Securities Fund. This fund aims to maximise the income whilst maintaining the value of the investment. The fund managers’ investment policy meets the ethical standards of the Church of England.
Reserves policy
In respect of St Leonard there is no specific policy as unavoidable expenditure is low.
Given its age and size and listed status the PCC believes it prudent to try to maintain in respect of St Mary Magdalene a cash balance on reserves of £50,000 to cover contingencies.
In respect of the two residential properties owned by the PCC about £40,000 is nominally reserved in general funds to cover planned and emergency maintenance.
Commitment to major project work
Over the period 2022-2027 the PCC has committed £146,000 from its eligible funds to the Reawakening project. (The original commitment of £100,000 was augmented firstly by £16,000 when the diocese applied for further central CoE funding in 2022 and secondly by £30,000 when the NLHF was approached for further funding in November 2024.) This may impact the ability of the PCC to maintain its reserves policy, and it is possible that further PCC funds will be needed before the project completes in 2027.
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PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2025
Consolidated Statement of Financial Activities for the year ended 31 December 2025
| Notes Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Total incoming resources Expenditure on: Raising funds 6 Charitable activities 7 Other 8 Total resources expended Net incoming resources/(resources expended) before transfers Transfers between funds Net incoming resources/(resources expended) Realised and unrealised gains/(losses) on investment assets Net movement in funds Fund balances 1 January 2025 (2024) Fund balances 31 December 2025 (2024) |
Unrestricted Designated Restricted Endowment Total Funds Funds Funds Funds 2025 £ £ £ £ £ 124,912 3,971,275 136,238 - 4,232,425 2,284 - - - 2,284 24,339 2,223 4,411 - 30,972 15,351 - 10,135 - 25,486 166,885 3,973,497 150,784 - 4,291,166 5,328 - 485 - 5,814 180,473 3,985,497 150,746 - 4,316,716 1,554 2,452 227 - 4,234 187,355 3,987,950 151,458 - 4,326,763 (20,470) (14,453) (674) - (35,597) - - - - - (20,470) (14,453) (674) - (35,597) - - - 2,970 2,970 (20,470) (14,453) (674) 2,970 (32,627) 286,155 25,858 89,239 267,575 668,827 265,684 11,406 88,565 270,545 636,200 2025 |
Unrestricted Designated Restricted Endowment Total Funds Funds Funds Funds 2024 £ £ £ £ £ 137,859 296,202 120,362 - 554,424 3,758 - - - 3,758 33,579 3,638 804 - 38,021 14,301 - 9,596 - 23,897 189,498 299,840 130,762 - 620,100 9,936 - - - 9,936 260,173 273,982 148,337 - 682,492 2,312 - 72 - 2,384 272,421 273,982 148,409 - 694,812 (82,923) 25,858 (17,647) - (74,712) 39,019 - 20,850 (59,869) - (43,904) 25,858 3,203 (59,869) (74,712) - - - 9,631 9,631 (43,904) 25,858 3,203 (50,238) (65,081) 330,059 - 86,036 317,813 733,908 286,155 25,858 89,239 267,575 668,827 2024 |
|---|---|---|
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PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2025
Consolidated Balance Sheet as at 31 December 2025
| Notes Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Other current assets Cash at bank and in hand Creditors: amounts falling due after less than one year 14 Net current assets Total assets less current liabilities Funds: Unrestricted funds General funds Endowment funds Restricted income funds Total funds |
Unrestricted Designated Restricted Endowment Total Funds Funds Funds Funds 2025 £ £ £ £ £ 195,000 - 15,587 - 210,587 - - - 270,545 270,545 195,000 - 15,587 270,545 481,133 17,874 216,309 6,602 - 240,784 3,421 - - - 3,421 74,816 207,719 67,467 - 350,002 96,111 424,027 74,069 - 594,207 (25,427) (412,622) (1,091) - (439,140) 70,684 11,406 72,978 - 155,068 265,684 11,406 88,565 270,545 636,200 265,684 11,406 277,090 270,545 270,545 265,684 11,406 270,545 547,635 88,565 88,565 265,684 11,406 88,565 270,545 636,200 |
Unrestricted Designated Restricted Endowment Total Funds Funds Funds Funds 2024 £ £ £ £ £ 195,000 - 16,247 - 211,247 - - - 267,576 267,576 195,000 - 16,247 267,576 478,823 48,578 150 6,463 - 55,191 3,421 - - - 3,421 41,962 451,257 72,464 - 565,684 93,962 451,407 78,927 - 624,296 (2,807) (425,549) (5,934) - (434,290) 91,155 25,858 72,993 - 190,006 286,155 25,858 89,240 267,576 668,829 286,155 25,858 312,013 267,576 267,576 286,155 25,858 267,576 579,589 89,240 89,240 286,155 25,858 89,240 267,576 668,829 |
|---|---|---|
These financial statements were approved by the Parochial Church Council on 7th May 2026
(date)
and signed on its behalf by
(print name and position and sign)
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025 Notes to the accounts
1 Accounting policies
a Basis of preparation
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities Statement of Recommended Practice (SORP) (FRS102) effective January 2015.
They have been prepared under the historical cost convention, except for the valuation of investment assets, which are included at market value.
Subject to any exceptions noted below, the financial statements include all transactions and assets and liabilities for which the PCC is responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body (eg Mothers Union), nor of those that are informal gatherings of church members.
b Fund accounting
General funds are unrestricted funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms or bequest or (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given and any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment interest is applied to general funds.
Endowment funds are funds where the capital must be retained. Income arising from investment of the endowment may be used depending on the purpose for which the endowment was established (which may be restricted or unrestricted).
c Incoming resources
All incoming resources are accounted for gross.
Voluntary income and capital sources
Collections are recognised when received by or on behalf of the PCC.
Planned giving receivable, whether under the Gift Aid scheme or not, is recognised when it is received.
Tax recovered on Gift Aid donations is recognised in the same accounting year as the donation is recognised.
Grants are accounted for when paid over.
Legacies to the PCC are accounted for when:
-
the PCC is notified of its legal entitlement;
-
the amount due is quantifiable; and
the ultimate receipt by the PCC is reasonably certain.
Funds raised by fetes, garden parties and similar events are accounted for gross.
Sales of books and magazines from a church bookstall are accounted for gross.
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual report and financial statements 2025 Notes to the accounts
Income from investments
Dividends are accounted for when due and payable, and interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
Other income
Rental income is recognised when the rental is due.
Gains and losses on investments
Realised gains or losses are recognised when investments are sold.
Unrealised gains or losses are accounted for on revaluation of investments at 31 December.
d Resources used
Activities directly relating to the work of the Church
The diocesan parish share is accounted for when paid. Any parish share unpaid at 31 December is provided for in these financial statements as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.
e Tangible fixed assets
Consecrated property and movable church furnishings
Consecrated and beneficed property of any kind is excluded from the financial statements by the Charities Act 2011 s10 (2)(a).
Movable church furnishings held by the rector and churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for as inalienable property unless consecrated. They are listed in the church inventories for St Mary Magdalene and St Leonard and can be inspected at any reasonable time on application to the churchwardens.
For inalienable property acquired before 1 January 2006 there is insufficient cost information readily available and therefore such assets are not valued in the financial statements.
Inalienable property acquired since 1 January 2006 is capitalised and depreciated in the financial statements over its current anticipated useful economic life (usually 25 years) on a straight-line basis. All expenditure incurred in the year on consecrated or beneficed buildings, on individual items under £2,000, or on the repair of movable church fittings acquired before 1 January 2006 is written off.
Other fixtures, fittings and office equipment
Equipment used within church premises is depreciated on a straight-line basis over four years. Individual items with a purchase price of £2,000 or less are written off when the asset is acquired.
f
Investments
Investments are stated at market value at the balance sheet date.
g Current assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less the provision for amounts that may prove uncollectable.
Short term deposits include cash held on deposit either with the Central Board of Finance Church of England Funds or at the bank.
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PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2025
Notes to the accounts
| 2 Income from donations and legacies Planned Giving G/A Recoverable Gift Aid Recovered Planned Giving Non G/A One-off donations G/A One-off donations Non G/A Ordinary collections Wall boxes Votive candles Goodbox GWD (not gift aid) GWD (gift aid) CAF Donate (gift aid) CAF Donate (not gift aid) Sundry income Grants Magnus Charity Grants Magnus Education Foundation Grants - Other Grants - Listed Places of Worship Grants - National Lottery Heritage Fund Legacies 3 Income from charitable activities Fees 4 Income from other trading activities Coffee bar Books & postcards Hiring out Tower visits Fund-raising - Other income Christmas Tree Festival - Trees Christmas Tree Festival - Other Income Christmas Tree Festival - Admission etc. Christmas Tree Festival - sponsorship Property Rent 5 Income from investments Investment income Bank interest Total incoming resources |
Unrestricted Designated Restricted Total Funds Funds Funds 2025 £ £ £ £ 63,990 - - 63,990 18,095 2,700 2,486 23,281 7,008 - - 7,008 10,543 10,100 - 20,643 7,283 425 732 8,440 7,078 - 160 7,238 24 - - 24 - - - - 5 - - 5 - - - - - - - - - 100 - 100 - - - - 914 - 6 920 - - 60,033 60,033 - 10,000 37,821 47,821 9,652 1,136,880 35,000 1,181,532 320 278,610 - 278,930 - 2,532,460 - 2,532,460 - - - - 124,912 3,971,275 136,238 4,232,425 2,284 - - 2,284 2,284 - - 2,284 - - - - 375 - - 375 1,000 - - 1,000 295 - - 295 1,281 2,223 4,411 7,915 4,116 - - 4,116 15 - - 15 2,217 - - 2,217 - - - - 15,040 - - 15,040 24,339 2,223 4,411 30,972 429 - 7,849 8,279 14,922 - 2,286 17,207 15,351 - 10,135 25,486 166,885 3,973,497 150,784 4,291,166 |
Total 2024 £ 64,615 36,498 6,590 70,269 41,778 6,747 3,359 2,007 2,242 1,707 157 575 45 671 36,000 40,764 119,668 1,983 118,749 - 554,424 3,758 3,758 6,042 425 3,052 372 5,191 2,400 67 5,297 1,055 14,120 38,021 8,247 15,650 23,897 620,100 |
|---|---|---|
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PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2025
Notes to the accounts
| 6 Expenditure on raising funds Coffee bar Books & postcards Advertising Christmas Tree Festival - Trees Christmas Tree Festival - Other expenditure Fundraising expenses Music for Market costs Sundry expenses Property management House repairs House insurance 7 Expenditure on Charitable activities Parish share Clergy expenses (Rector) Clergy expenses (others) Utilities Telephone services Song School Utilities Song school telephone services Insurance Cleaning Grounds Maintenance Maintenance & minor repairs Organ maintenance Water Alarm Systems Sanctuary expenses Music & Choir unbudgeted Music - Advertising Robes (purchasing & cleaning) Music - External professionals Chorister pay Chorister social expenditure Sheet music & hymn books Subsidised Chorister tuition Music - In-service Training Scholarship Flowers Heritage activities Lay training Major Development Employment Costs Secular Charities Pastoral - Youth ministry Pastoral - Childrens' ministry Pastoral - Baptism ministry Pastoral - General ministry Pastoral - Alpha Depreciation charge External Printing Membership subscriptions Support of Parish Office Office - Stationery & Postage Office - Photocopier Office - Sundry Items Office - Safeguarding Administration |
Unrestricted Designated Restricted Total Total Funds Funds Funds 2025 2024 £ £ £ £ £ 35 - - 35 2,299 (60) - (157) (217) - - - - - - 2,217 - - 2,217 1,934 289 - - 289 312 - - 642 642 517 - - - - 1,145 - - - - 580 1,889 - - 1,889 1,778 216 - - 216 650 743 - - 743 720 5,328 - 485 5,814 9,936 81,120 - - 81,120 78,000 1,184 - - 1,184 708 1,668 - - 1,668 1,554 9,996 - - 9,996 15,130 1,520 105 - 1,625 1,385 - - 1,869 1,869 1,767 - - 89 89 251 615 29,690 26,614 56,919 43,021 706 - - 706 1,391 810 - - 810 810 4,487 - 2,653 7,141 9,232 - - - - 1,814 152 - - 152 220 1,311 - - 1,311 911 219 - - 219 959 16 - 137 153 9,101 1,447 - 185 1,632 197 422 - 29 451 362 330 - - 330 551 251 - 585 836 757 438 - 6 444 442 284 - 776 1,059 1,059 466 - 12,483 12,949 8,451 - - 500 500 128 750 - 2,207 2,957 6,738 100 - - 100 100 - 38,171 - 38,171 8,293 239 - 1,135 1,374 335 18,348 3,849,176 1,704 3,869,228 308,990 37,952 68,026 99,114 205,091 167,808 - - - 162 1,832 - - 1,832 1,598 759 - - 759 1,294 - - - - - 6,073 - - 6,073 3,053 236 - - 236 235 - - 660 660 660 - - - - 723 651 - - 651 130 - - - - - 1,031 - - 1,031 416 1,677 - - 1,677 625 3,385 330 - 3,714 3,131 - - - - - 180,473 3,985,497 150,746 4,316,716 682,492 |
|---|---|
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PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2025
Notes to the accounts
| 8 Other expenditure Professional fees Accountancy Fees Interest paid Bank charges CAF Donate processing fees Sumup processing charges Goodbox processing charges GWD processing charges Eventbrite charges Total expenditure |
2025 Unrestricted Designated Restricted Total Funds Funds Funds 2025 £ £ £ £ - - - - 1,123 - 120 1,243 - 2,200 - 2,200 261 - - 261 4 - - 4 47 - - 47 36 - - 36 54 - - 54 31 252 107 390 1,555 2,452 227 4,235 187,356 3,987,950 151,458 4,326,764 |
Total 2024 £ 802 818 - 201 21 47 253 242 - 2,384 694,812 |
|---|---|---|
9 Trustees' remuneration
No trustee either received or waived any emoluments during the year or during the preceding year.
10 Employment costs
The Church employs various individuals in specific roles where cost of employment is supported by grants from various entities including Magnus Charity, Magnus Educational Foundation, SDF (Special Development Funding awarded by the Church of England Strategic Investment Board and administered by the diocese) and National Lottery Heritage Fund. The total employment cost during 2025 (including national insurance, pension contributions, etc) was £205,091 (2024 £167,808).
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PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2025
Notes to the accounts
11 Tangible fixed assets
| Cost At 1 January 2025 Additions Disposals At 31 December 2025 Depreciation At 1 January 2025 Charge for the year At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 12 Fixed asset investments Unrestricted £ Market value 1 January 2025 - Additions - Disposals - Realised Profit/(Loss) on disposal - Unrealised Profit/(Loss) in year - Market value 31 December 2025 - 13 Debtors Prepayments and accrued income National Lottery Heritage Fund SDF Diocesan Grant Tax recoverable and fees 14 Creditors: amounts falling due within one year Accruals and deferred income Provision for liabilities and charges Diocesan cashflow loan Trade creditors Other creditors including tax and NI |
Freehold land Office and buildings equipment Total £ £ £ 195,000 26,467 221,467 - - - - - - 195,000 26,467 221,467 - 10,220 10,220 - 660 660 - 10,880 10,880 195,000 15,587 210,587 195,000 16,247 211,247 Restricted Endowment Total £ £ £ - 267,576 267,576 - - - - - - - - - - 2,969 2,969 - 270,545 270,545 2025 2,024 £ £ 7,220 40,820 216,065 - 5,000 - 12,500 14,371 240,784 55,191 23,588 3,298 1,091 989 220,000 - 190,212 426,692 4,248 3,312 439,140 434,290 |
|---|---|
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PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2025
Notes to the accounts
15 Fund movements
| Fund Category/Name Unrestricted fixed assets Property owned by PCC Restricted fixed assets Bechstein grand piano Song School choir stalls Total Unrestricted cash funds General Fund Property management Christmas Tree Festival Christmas music CD 2019 Fees for funerals and weddings Music for Market Total Cash funds not owned by PCC Magnus scholarship 2025-2026 Magnus scholarship 2024-2025 Total Restricted cash funds Diocesan Grant (SDF) Organist Vergers and other lay staff Fabric (SMM) Roof repairs Chancel repairs Chimes and Belfry Lay Education Bishop White Library Music and Choir Organ Assistant Clergy 101 Pianos Piano Keys Charity Church of England Charity Newark Schools St George Chapel general St George Chapel flowers Fabric (StL) Total |
Balance Balance brought Gains and carried forward Income Expense Transfers (losses) forward £ £ £ £ £ £ 195,000 - - - - 195,000 3,889 - - - - 3,889 12,358 - (660) - - 11,698 16,247 - (660) - - 15,587 (5,170) 143,821 (181,360) - - (42,710) 86,156 15,005 (3,321) - - 97,840 6,386 6,618 (2,675) - - 10,329 25 - - - - 25 3,758 1,442 - - - 5,200 - - - - - - 91,155 166,885 (187,356) - - 70,684 - 1,754 (1,696) - - 58 - 5,185 (5,287) - - (102) - 6,939 (6,983) - - (44) 762 35,000 (35,762) - - - 35 31,052 (30,510) - - 577 - 21,202 (21,282) - - (81) 1,123 25,104 (27,450) - - (1,223) 673 - (673) - - 0 1,622 6 - - - 1,628 5,246 - - - - 5,246 14,126 - (1,330) - - 12,796 7,468 732 (1,557) - - 6,644 15,409 23,813 (24,154) - - 15,067 946 1,829 - - - 2,774 1,136 - - - - 1,136 - 2,037 - - - 2,037 - 100 - - - 100 436 - - - - 436 8,413 - - - - 8,413 56 - - - - 56 6,593 - - - - 6,593 762 - - - - 762 8,186 2,970 (1,096) - - 10,060 72,993 143,845 (143,816) - - 73,022 |
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page 17
PCC of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2025
Notes to the accounts
15 Fund movements (continued)
| Fund/Category name Unrestricted endowment funds SMM Unrestricted Endowments Total Restricted endowment funds SMM Fabric trusts SMM Newbald Organist Music and Choir Ferrier (StL) Newbald (StL) Total Grant-supported projects NLHF (Reawakening) Heriatge England SMMIB SDU reordering Total Total Fund Movements |
Balance Balance brought Gains and carried forward Income Expense Transfers (losses) forward £ £ £ £ £ £ - - - - - - - - - - - - 70,946 - - - 1,732 72,678 93,825 - - - 2,296 96,121 5,478 - - - 134 5,612 10,581 - - - 259 10,840 55,471 - - - (2,217) 53,254 31,275 - - - 765 32,040 267,576 - - - 2,969 270,545 25,858 3,408,247 (3,431,186) - - 2,919 - 145,490 (136,515) 8,975 - 4,505 (4,992) (487) - 415,256 (415,256) - - - 25,858 3,973,498 (3,987,950) - - 11,406 668,829 4,291,166 (4,326,764) - 2,969 636,200 |
|---|---|
16 Fund transfers
During 2024 the SMM unrestricted endowment and several smaller restricted endowments were sold and the proceeds were transferred to cash by PCC resolution.
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Parochial Church Council of Newark St Mary Magdalene with St Leonard: Annual Financial Statements 2025
Independent examiner’s report to the Trustees of the Parochial Church Council
I report to the trustees on my examination of the accounts of the Parochial Church Council for the year ended 31 December 2025, which are set out on pages 9 to 18
Responsibilities and basis of the report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).
I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Name: Michelle Katie Allen FCA, CTA (ICAEW No: 9246009) Chartered Accountant and Tax Advisor Address: Office 11, Navigation Business Centre Mill Gate Newark Nottinghamshire NG24 4TS Date: 18 May 2026
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