REGISTERED CHARITY NUMBER: 1131070 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 FOR sr. MARY'S CHURCH. CHIPPING NORTON PCC
ST. MARYS CHURCH. CHIPPING NORTON PCC CONfENfs OF THE FINANCIAL STATEME15 FOR THE YEAR ENDED 31 DECEMBER 2025 Reference and Administrative Details Reportof the Trustees Independent Examinerfs Report Statement of Financial Attivities Balance Sheet Notes to the Financial Statement5 8-22
ST. MARY'S CHURCH, CHIPPING NORTON PCC REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 20Z5 TRVSTEES Mrs K Beddall Mr T Bodeker Mr5 D Butler Iresigned 30 March 20251 Mrs L Carpenter Mr M Carpenter Mrs Y Champion Mrs C Clinch lappointed 30 March 20251 Mr K Fowler Mrs J M Graves Rev l E Kennedy Mr G A Povey Mrs V fvlartin Mr B Rees Ms N Riley Mr A Rit5peris Mr O Shaw (appointed 5 July 20251 Rev M White (resigned 28 December 202SI Mr P AJ Williams Iresigned 30 March 20251 MrTWoolcock Fiona Yc¢ung lappointed 30 March Z0251 PRINCIPAL ADDRESS St Marfs Church office The 8ranch 16 Market Place Chipping Norton Oxforilshire, OX7 SNA REGISTERED CHARFfY NUMBER 1132070 INDEPENDENT EXAMINER Frank Harper ACMA Ashlea Solutions Ltd Falmoor 29 Meriden Road Hampton in Arden 892 OBS
ST. MARY'S CHURCH. CHIPPING NORTON PCC REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present their report with the finantial statement5 of the charity for the year ended 31 Decernber 2025. The trustees have adopted the provision5 of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJECtIVES ANO ACllVITIES Aim and Purposes The objectives of the PCC are to promote in the ecclesiastical parish the whole mission of the Church. Objectives and activities Family Being 3 true and lively f3rnily is Important to us- a whole family in vnity, Wlth people of all ages embraced and valued. Like any family. we have fun together. and to invest in friendship and relationship with each other. We also recognise and celebrate our belonging within the wider Church. working together with other denotnination5 a5 much as we can, and drawing strength from Our own placÈ a5 Part of the Oxford Diocese, in the Church of England. Nurture Families Ca for each other. At St. Mary'5 It is no diffet. We take our responsibilities seriously to share what we have whenever we perceive a need. We seek alway5 to 5UPPOrt and encourage one another, extending God's grace practically by caring for each other, listefting, and bringing strength to each other however we can. Growth We want 5t. Mary'5 to be a place where people are alw3ys growing spiritually- through faithful Bible teaching, training. and exercising faith, through obedience, surrender and through commitment to serve. Communlty Our place in Chipping Norton is to love our whole community. and to be found at the heart of our community. We are called to be an outward focused church, reaching out whenever we find doors opening. Witness We desire to Sha the good news of jesus. proclaiming it afresh to each generation here in our local cornfflunity and playing our part in taking the good news to all Corners of the world so that we can share in the joy of seeing lives changed by his life-giving love. service At 51, Mary'5 we are uniquely placed to know and to serve our whole community and 50 we actively seek to step out constantly in compassion. coming alongside the lost and the vulnerable, no longer living for our5elve5, but for the one who died for us. ACHIEVEMENT AND PERFORMANCE Charltsble activitie5 For a review of our achievements and performance during 2025 please refer to "Annual Report 2025"
ST. MARY'S CtrIURCH. CHIPPING NORTON PCC REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 FINANCIAL REVIEW Summary The principal Sources of funding are the sacrificial giving of the congregation together with some external grants. The total unrestricted and restricted donations for the year excludbng that given as part of a gift day was £268.90512024-£263,7641. Total planned giving increased by 3% from £147,132 in 2024 to £151,777. The response tr) the gift day hèld in 2025 wa5 wonderful. resulting in donations and gift aid in 2025 of £51,898. General fund income in 2025 was £228,96212024-£213,0331 and expenditure was £161,06812024- £185.4061. A further E102.97812024-£99.0681 was received for specific purposes i.e. restricted lund5 including the building to serve project which 3ccounted for £32,51612024-£51,3371 of this rÈstricted income. Together with the donations raised in response to the gift day, total income for the year was £385,635, up frorrb £314,876 in 2024. Grants and other income Grant5 received this wear of £41,93512024.' E25,79ZI have been invaluable and have contributed to the cost of our children and youth ministry and to our CAP work. We are grateful to Chipping NorEon Area Chri5tJan Trust ICNAcfi. Oxford Good Stewards Trust IOGSTI, Oxford Diocese. Glyme Hall Management Trust and the Chipping Norton Community Church which jointly fund5 the work of CAP in Chipping Norron and across the local area. In a hugely exciting initiative, we are setttng up a new Healthy Ageing Hub with the 5UPPOrt of the University of Oxford. We received a first instalment of £39,500 from the University in December 2025, this 15 the first instalment of a 3-year grant for £243,967. This grant will be recognised over the period of the Pfojert. Tot31 expenditure was £285,723, £32,527 lower than the £318,250 spent in 2024 largely due the payment to the branch from the Building to Serve fund being f 11,950 in 2025, down from the £43,900 paid in 2024. Excluding these payments. expenditure in 2025 was £273.77312024- £274,350). Staff costs fell slightly this year to £73,10912024-£84,4361 due tu the Teaching Pastor leaving in July 2024. The Parish Share increased slightly to £66,632{2o2466.I6l). At 31 Decembèr 2025, total funds stood at £298.08012024.. 1198,1681, rnade up of Ltnrestricted funds of £172,08912024'. £102,S781 and reslricted funds of £12S,99112024.. £95.5901. Reserves policv The charity considers that it Is not necessary to hold a set level of Teserves as the charity's ongoing activities can expand or contract in line with the standing orders. donations and grants available. Should an unusual obligation arise, the Trustees are confident that sufficient funds can be 50ught from congregation mernbers and from grant income, therefore, all thÈ fund5 held are available to be used for the charity's activities.
ST. MARY'S CHURCH, CHIPPING NORTON PCC REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 Fixed Asset There is an equity share agreement in place over a re5identi31 property in Chipping Norton used to house clergy. The property was bought in 1992 at a cost of £58,500 and the PCC paid £18,500 for an equity share in this property. The remaining £40,000 was paid for by the Church Commi55ioners Ljnder the terms of an equity share agreement. The PCC pays interest in respect of thi5 agreement. Fundraising The church family is encouraged to support the ministry of the church by regular giving The church also hold5 gift days. On and around gift days, teaching include5 discussion of the role of generosity and giving of time, resources and financially within Christièn discipleship, New members are also encouraged to commit to regular giving. A key principle of Biblical teaching is that giving should be in proportion to mean5. This is emphasi5ed in the teaching and donations are ha ndled with confidentiality. There are occasional special collections for specific events or particular needs. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charilv. Charity constitution The PCC is an unincorporated charity, having registered with the Charity Commission on 9 October 2009. Induction and training of new trustees The method of appointment of PCC members is set out in the Church Representation Rules. At St. Ma ry's the membership of the PCC consists of the incumbent lour vicarl, churchwardens and rnembers elected by those members of the congregation who are on the Electoral Roll of the church. All those who attend our services are encouraged lo register on the Electoral Roll. The PCC members are responsible for making dècisions on all matters of general concern and importance to the parish including deciding how the fund5 of the PCC are to be spent. New members receive initial training into the workings of the PCC. Approved by order of the board of trustees on 18th March 2025 and signed on its behalf by: Rev J E Kennedy- Trustee
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF ST MARYS CHURCH, CHIPPING NORTON PCC Independent examiner's report to the trustee5 of St. M•ry'5 Church, Chipping Norton PCC I report to the charity trustees on my exarnination of the accounts of St. Mary's Church, Chipping Norton PCC (the Trust) for the year ended 31 December 2025. Responsibilities and basis of report As the charity trustees of the Trust, you are responsible for the pparatIOn of the accounts in accordance with the requirements of the Charities Act 20111'the Art'l. I report in respect of my examination of the Trust'5 account5 carried out under Section 145 of the Act and in carrying out my exarnination I have folitswed all applicable Directions given by the Charity Commission under Section 14515llbl of the Act. Independent examiner's 5tstement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Chartered Institute of Management Accountants which is rjne of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination givin8 me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Aet. or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts Set out in the Charities IAccounts and Reports) Regulations 2008 other than anv requlrement that thè 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 repo n order to enable a proper understanding of the accounts to be reached. Frank HarperACMA A5hlea Solutions Ltd Falmoor 29 Meriderb Road Hampton in Arden B92 OBS Date: 18th March 2026
ST MARYS CHURCH. C+IIPPING NooN PCC rATEMEfiT OF FINANaAI AcnvrriES FOR THE YEAR ENDED 31 OÉCEMBER 2025 31.ll.25 Totsl nds unfesrted Re5blctod fvnds nds Notes Tot31 funds Incoming rnsources Income fiDm.' Donations. grants & legac15 Charitsble activities Investments 261,971 14,560 6.126 100.767 1,039 1,172 362.738 15599 7,298 289,556 20,672 Totsi 282.657 102,978 385,635 314,876 Rtsource5 tKpended Expenditure on: Charitablt acti¥6tte5 W015hip Community Mission Support costs Total 20,556 22,803 Z5,905 143.B82 213.146 1,017 S63 34,681 31.016 72577 21,573 28,666 60,586 174,898 285.723 24,426 36380 86,246 171.198 318.250 NEf INC&MV IEXPENDMJRE) 99,912 13,3741 69,511 30.401 Trnnsfers between funds Net mty4Ement In funts 69.511 30.401 99.912 {3.3741 RECONaUATION OF FUNDS Totsl fijnds broughtforyRrd 102.578 95,5 198.618 201,542 YOTAL FUNDS CARRIED FORWARD 172,089 125,991 298.080 198,168 The notes form part of these financtal statements.
ST MARYS CHURCH, CHIPPING NORTON PCC BAL4NCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted funds Restrirted funds 31.12.25 31.12.24 Total Total funds funds Note5 FIXED ASSETS Tangible assets 18,500 18,5 18,5 CURRENT ASSETS Debtor5 Cash at bank and in hand Total current assets 7,605 194,515 202.120 7,605 320,506 328,111 764 125,991 125,991 187,620 188,384 CREDITORS Amounts falling due within one year 148,5311 0 148,5311 18,7161 NET CURRENT ASSETS 153,589 125,991 279,580 179,668 TOTAL ASSETS LESS CURRENT LIABILITIES 172,089 125,991 298,080 198,168 NET ASSET5 172,089 125,991 298,080 198,168 FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 172,089 125,991 298,080 102,578 95,590 198,168 The financial statements were approved by the Board of Trustees and approved for issue on 18, March 2026 and were signed on its behalf bv.. 18 March 2026 Rev J E Kennedy- Trustee th March M r5 K Beddall Trustee The notes form part of these financial statements.
ST MARYS CHURCH, CHIPPING NORTON PCC NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2025 I. ACCOUNTING POLICIES Basis of pTeparing the financial statements The financial statements of the ch3rity, which 15 a public benefit entity under FRS 102, have been prepared in accordan with the charities SORP IFRS 1021 'Accounting and Reporting by Charitie5". ststerrent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepLJblic of Ireland IFRS 1021 leffective I january 20191,, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the charities Act 2011. The financial 5Latefflents have been prepared under the hi5tDrical cost convention. The Trustees consider that there 3re no material uncertainties related to events or condition5 that cast sIglf[¢snt doubt on the charity's ability to continue as a going concern. lrtcome All income is recognised in the St3tement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be receivèd, and the an)ount can be measured reliablv. Donation5 are ineluded in full in the statement of Financial Artivities on their receipt. Grants with no performance-related condttions are recognised as income when they are receivable. Income from grants subject to perforrnance-re13ted conditions is recogni5ed when the relevant conditions are met. Part or the whole of any grant received in advance of performance related conditions not having been rnet will be recorded as defèrrèd income on the balance sheet. Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation 15 considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified othenvise. Interest is included in the accounts when reipt is probable, arnd the amount receivable can be measured reliably. The value Of help given by volunteers received 15 not refleded in the financial Statements but is descrlbed in the tfU5tee5' annual report. Expenditurè and liabilities Liab41ities are recogni5ed as expenditure a5 soon as there is a legal or construrtive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Support costs are those funetitsns that assist the work of the charity but do not directly undertake charitable 3rt1Vlties. These costs have been 8llocated to activity cost categorie5 in proportion with direct expenditurÈ on charitable activities (Èxcluding exceptional items). Creditors are rnea5ured at settlement amounts. Grant income received in advance of performance related conditions having been met are recognised 35 deferred income. Tangible fixed assets TaDgib1e fixed assets are valued at cost. They are capitalised if they can be used for more than one year and cost at least £l.000. Taxation The charity is exempt from tax on its charitable artivitie5. The notes form part of these financial 5tstements.
ST MARYS CHURCH, CHIPPING NORTON PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 I. ACCOUNTING POLiaES- tontinued Fund acwunting Unrestrirted funds can be used in accordance with the charitable objectives at the discretion Df the trustee5. Designated funds are unrestricted funds which have been allocated for future expenditure for a specific purpose by the PCC. Restricted funds are subject to specific conditions imposed by the donor5 or by terms of an appeal, these conditions being legally binding on the PCC. Fund accounting Further explanation of the nature and purpose of each fund is included in the r)ote5 to the financial statements. CHARITABLE AcfiviTIES 31.12.25 31.12.24 Hire of church building ire of parish room5 Hire of 137 Corntsh Road 1,794 4.101 1,361 1,443 212 1,351 2,529 6,092 1,740 18 The Branch Reimbursed expenses Coffee5, lunches etc Women's events Children and Youth events Pccfees 799 2,137 3,752 4,782 3,679 481 Other income 15,599 20,672 INVESTMENT INCOME 31.12.25 31.12.24 Bank interest re]vable 7,298 4,648 TRUSTEES. RENUMERATION AND BENEFITS No member of the PCC received any renumeration tor their role on the PCC. The lergy, who are ex officio members. and a member ol staff who also seNe5 on the PCC, receive a stipend or equivalent but are not remunerated for theii servi¢e5 on the PCC. The note5 form part of these financial Statements.
ST MARYS CHURCH, CHIPPING NORTON PCC NOTES TO THE FINANCIALSTATEMES FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARAnvES FOR THE STATEME OF FINANCIALACTIVITIES Year ended 31.12.24 Vllrestricted Restricted funds funds Total Funds INCOMEAND ENDOWME5 Donations and legacies Gharitable activitles Invesrment income TotaL 199,832 15,764 212 89,724 289,556 4,908 20,672 4.436 99,068 314,876 215,808 EXPENDMJRE Charitablè actlvltles Worship Community Mission 21,883 30.393 18,616 145,260 216.152 2,543 24,426 5,987 36,380 67,630 86,246 25,938 171,198 102,098 318,250 Support costs Total NEf INCOMEIIEXPENDITURÉI Transfer5 between funds Nel movements in fund5 13441 14,0261 14,3701 13,0301 13,3741 4,026 996 13,3741 RECONCIUATIONOFFUNDS Totalfunds brought forward TOTAL FUNDS CARRIED FORWARD 106,948 102,578 94,594 201,542 95,590 198.168 TANGIBLE FIXED ASSErs Freehold Property COST At I january 2025 & 31 December 2025 18,500 NBooKVALUE At I january 2025 & 31 De¢ernber 2025 18,500 The notes form part of these financial statements. io
ST MARYS CHURCH, CHIPPING NORTON PCC NOTES TO THE FINANCIAL sTATEmEr5 FOR THE YEAR ENDED 310ECEMBER 2025 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.25 31.12.24 Trade debror5 Accrued incorne 1.177 4.462 1,966 7,605 764 Prepayments other debtor5 764 CREDITORS:AMOUNTS FALLING DUEWITHIN ONEYEAR 31.12.25 31.12.24 Trade creditors Deferred illcome Accruals and other liabilities 6.323 38,793 3,415 48.531 6.642 2,074 8,716 MOVEMENT IN FUNDS Net Trar)sfer between Fund5 At movement in fund5 At 1.1.25 31.12.25 General fund 28,724 65,685 122,5661 71,843 Designated 137 Cornish Rd Equipment Gift Day Missions New Ground Outreach Projects Vicar's Fund Worship pastor Youth 18,500 523 18,500 523 23,387 20,945 751 25,072 19,526 363 1,009 8,578 27 23,315 117,2241 11,1121 11,3811 125,0001 18,643 1,500 1,000 1,423 628 Jo,000 256 229 25,QOO 25,000 256 256 73,854 3.826 22,566 100,246 Total Unrestricted funds 102.578 69,511 172,089 The notes form part of these financSal statement5. li
ST MARYS CHURCH, CHIPPING NORTON PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 MOVEMENT IN FUNDS- tontinued Net Transfer between Fund5 At 1.1.25 movement At 31.12.25 in funds Unrestrirted fund5 blforward 102,578 69,511 172,089 Restricted funds 2,422 207 12451 2.177 207 Bereavement Big Give Building Church Building Project CAP 406 14061 368 4,232 33,206 7,882 1,413 7,809 14,6001 4.720 298 20,376 11,7911 337 14811 18,480 337 58,3D2 6,389 1,750 7,328 18,920 Children & families Clergy & WDrship CNACt grant Envision ITÈchl Fabric Flower Fund Friends of St Mary'5 Fuel Poverty Green Templeton Kintsygi Hope Kitchen 149 loo 1,530 12641 1,630 147 411 10,209 4,879 13,848 298 120 10.209 924 9,786 13,9551 14,0621 12981 11201 Living Stone5 Men United Minis Outreach Remix Remix 5106 Theatre Youth 533 533 220 220 62 1121 409 62 12 330 739 1,560 4,904 95,590 1,560 4.622 125,991 12821 30,401 TOTAL FUNDS 198,168 99.912 298,080 The notes form part of these financial statements. 12
ST MARYS OIURCH, CHIPPING NORTON PCC NOTES TO THE FINANOAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 MOVEMENT IN FUNDS. continued Incoming resources IResources Expended) Movement in funds Unrestrirted funds General fund 228,962 1163,2771 65,685 Designated Gift Oav Missions New Ground Outreach Projects Vicar'5 Fund 53,070 129,7551 117,2241 11,1121 11.7411 23,315 117,2241 11,1121 11,3811 360 265 1361 149,8691 229 53,695 3,826 Subtotal carried forwards 282,657 1213.1461 69.511 The note5 form part of these financial ststements. 13
ST MARYS CHURCH, CHIPPING NORTON PCC NOTES TO THE FINANCJAL STATEMENTS FOR THE VEAR ENDED 310ECEMBER 2025 MOVEMENT IN FUNDS- continued Incoming resources Re50urcÈs Movement in funds expended Unrestrirted furtds b/foFward 282,657 1213,1461 69,511 Restrlcted funds Bells Big Give Building Church Building Project CAP Childn & familles Clergy & WOT5hip CNACT grant Development Fund Envision (Tech) Fabric 348 15931 14061 12451 14061 368 20,376 11,7911 337 14811 18,480 368 32,516 9,998 1,537 1.375 23.680 3,937 1,375 3,155 112,1401 111.7891 11,2001 11,8561 15,2001 13,9371 11,0381 11,6251 12641 16,4451 14,5621 17071 14381 12931 13,4281 16,0251 110,6311 172,5771 337 1,530 12641 13,9551 14,0621 Flower Fund Fuel Poverty Green TÈmpleton Healthy Aging Hub Minis Outreach RemTX 2,490 soo 707 500 62 281 3,837 6,025 IU,349 ID2,978 409 Restrirted rni55ion giving Youth 12821 30,401 TOTAL FUNDS 385,635 1285,7231 99,912 The notes form part of these financial statements. 14
ST MARYS CHURCH, CHIPPING NORTON PCC NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2025 9. MOVEMENT SN FUNDS- continued Comparative5 for movements in fndS Net movement in funds Transfer between Asat Asat 1.1.24 Fund5 31.12.24 Unrestrirtèd funds General fund 137 Corr)ish Rd Equipment reserve Gift Day John Energy Missions New Ground Outreach 20,802 18,500 1,726 33,445 4,112 19,361 93 224 8,578 107 27.627 119,7051 28,724 18,500 523 11,2031 18,3731 25,072 14,1121 15,605 1.800 2,130 115,4401 11,5301 11,3451 19,526 363 1,009 8.578 27 256 Projetts Vicar's Fund Youth 1801 256 14.0261 106,948 1344) 102.578 The notes form part of these financi21 statements. 15
ST MARYS CHURCH, CHIPPING NORTON PCC NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 9. MOVEMENT IN FUNDS. continued Comparative for movement in funds.. - Transfer between funds 14,0261 At 1.1.24 106,948 Nét movement in funds 13441 At 31.12.24 ia2,578 Unrestricted funds blforward Restricted funds Be115 8ereavement Big Give Building Church Building Project CAP Children & families Clergy & Wofship CNACT grant Development Fund Envision (Tech) Fabric Flower Fund Freedom Friends of St Mary's Fuel Poverty Green Templeton Kintsugi Hope Kitchen 2.125 207 2.946 4,112 25,769 5,483 875 297 2,422 207 406 4,232 a3.206 7.882 1.413 7,809 12.1801 120 7.437 11,7131 538 13601 4,112 250 137 542 231 750 303 15421 1821 6.809 149 loo 11301 15,6151 10.209 12,4931 13,8471 12101 411 541 5,615 10.209 4,879 13.848 298 Izo 7,372 17,695 148 120 35 360 13SI Living Stones Men United Mini5 Outreach Remix Remix $106 Theatre Teaching Post Youth Youth trip 533 533 220 315 144 1951 11441 11621 50 12 330 1.560 174 280 1,560 8,601 8,440 244 11,7921 13,5361 11581 13,0301 16,8091 1861 4,026 94.594 95.590 TOTAL FUNDS 201,542 13.3741 198,168 The notes form part of these Financ31 statefnents.
5T MARYS CHURCH, CHIPPING NORTON PCC NOTE5 TO THE FINANaAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2025 9. MOVEMENT IN FUNDS- contlnved Comparative net movements in fund5, included in the above are as follow5."_ 2024 Incoming Resource5 Resources Expended Movement in funds Unrestricted funds General fund Equipment Gift Day Mission5 New Ground Outreach Vicar'5 Fund 213,033 1185,4061 11,2031 111,1481 115,4401 11,5301 11,3451 1801 1216,352 27,627 11,2031 18,3731 115.4401 11,5301 11,3451 1801 344 2,775 215,808 The notes form part of these financial statements. 17
ST MARYSCHURCH, CHIPPING NORTON PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 9. MOVEMENT IN FUNDS- contlnued Comparative net movement in fund5, included in the above are as follows". 2024 Movement In funds Incoming Re50UTces Resources Expended Unrestiirted funds blforward 215,808 1216,1521 13441 Restrirted funds 302 297 12,1801 120 Big Give Building Church Building Project CAP Children & farnilies Clergy & worship CNACt grant DÈvelopment Fund Envi5i0n ITechl Flower Fund 12,1801 120 51,337 6,469 1.438 750 143,9001 8,1821 19001 7,437 11,7131 538 750 8,280 4,847 17.9771 15,3891 1821 11301 15,6151 12,3041 16,2711 13.8471 12101 11,0851 1951 11441 19251 11.1041 12,6121 14,2841 14,8571 1102,0981 303 15421 1821 11301 15.6151 10,209 12.4931 13,8471 12101 1351 1951 11441 11621 50 11,7921 13,5361 11581 13.0301 Freedom Friends of St Mary's Fuel Poverty Green Templeton Kintsugi Hope 12,513 3,778 1,050 Men United Minis Outreach 763 Remix 1,154 820 Teachrng Post Youth Youth trip 748 4.699 99,068 TOTALFUNDS 314,876 1318,250 13,374 The notes form part of these financial st3teFnents. 18
ST MARYS CHURCH, CHIPPING NoKfoN PCC NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 9. MOVEMENT IN FUND5- contlnued Detsils ot the purpose of the ¢harityftJnds are as follows... Unrestrlcted tunds 137 Cornlsh Rd Equipment Gift Day Mi55ions New Ground Outreach Projerts Vicar's Fund Worship Pastor Youth Residential building Set asidè to replaee equipment Fundr3ising for church and community projects For missions work Supporting local coffee business working with ex-offenders Local outreach Special projects To be used at VTcar's dlscretion To be used to fund v40rship pastor role Youth projects The notes form part of thèse financial gtstements. 19
ST MARYS CHURCH. CHIPPING NORTON PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 9, MOVEMENT IN FUNDS- continued Detai15 01 the purpose ol the charity funds are 8$ follows.. Restricted funds To be spent on bells Bere2vement support Big Give campaign aims To be spent on building project To be spent on Building to Serve projerts Support ministry aiming to release pèople from poverty ICAPI Children and families rnini5try work For clergy and worship activities For youthlchildren Grant for youth and children's workers For Improving technology at church Church fabric fund Forflower5 For discrete fabric purposes Energy crisis fund Support medical student For Healthy A8inE Hub Give Hope campaign grant For kitchen improvements CAP Life5kills Restricted to tiving Stones For men's mini51ry For minis toddler group For local outreach For Remix youth group Remix s106 Grant from Chipping Norton The3tre for Youth Club Restricted mission5 giving For mi5%ions Youth Forytsuth work Bereavement Big Give Building Church Building Projert CAP Children & families clergy & worship CNACT grant Development Fund Envision (Tech) Fabrie Flower Fund Friend5 of St Marys Fuel Powerty Green Templeton Healthy Aging Hub Kintsugi Hope Kitchen LifÉ Ski115 Living Stones Men United Minis Outieach Remix The notes form part ot these financial statements. 20
ST MARYS CHUROI. CHIPPING NORTON PCC NOTE5 TO THE FINANOALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 20Z5 10. CHURCH WORKERS PENSIONS FUND ICWPFI St Marys Church p3rtlClP3te5 in the Pension Builder Scheme section of CWPF for lay Staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those ot thè Employer and other participating employers. CWPF has two sections= the Defined Benefits Scheme the Pension Builder Scheme, which has two subsertions,. a deferred annuity section known as Pension Builder Classic, and, a cash ba13nce section known a5 Pension Builder 2014. Pension Builder Scheme Both sections of the Pension Builder Scheme are classed as defined benefit schemes. Pension Builder Cla55ic provide5 a pension, accumulated from contributions paid and converted into a defÈrrÈd annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added. depending on investment returns and other factors. Pension 8uilder 2014 is a Cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retiremenr, depending on invÈstment return5 and other fa£tor5. The account, plus any bonuse5 declared is payable, unreduced, from age 65. There is no sub-division of assets between employers in each sertion of thè Pension Builder Scheme. rhe scheme is considered to be a multi-employer scheme as described in Secbon 28 of FRS 102. This is because it is not possiblÈ to attribute the Pension Builder Scheme'5 assets and liabilities to specific employers and means that contributiorts are accDunted for as if the Scheme were a defined contribution schème. The pensions costs charged to the Statement of Financial Activitie5 in the year are the contributions pay3ble12025." £2.430, 2024.. £2.4271. A valuation of the Pension Builder Scheme is carried out once overy three years. The most rent valuation wa5 carried out as at 31 DÈcomber 2022. For the Pension Builder aa55iC Section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the m05t recent annual review effertive l January 2026, the Board chose to grant a d55cretionary bonu5 of IN to both pensions not yet in payment and pensions in payTnent in respect of service prior to April 1997- and a bonus on pensions in payment respect of post April 1997 s&rvice so that the pension increase was also Ioh (where usually it would be calculated based on inflètion up to an annua1 cap of SOA for pensions in payment in respert of service prior to April 2006 and 2.5% for pensions in payment in respert of seryice port April 20061. This followed improvements in the funding position over 2025. There 15 no requtrement for deficit payments at the currènt time. For the Pension Builder 2014 section, the valu3tion revealed a surplus of £8.5m on the ongoing a55umptlOn5 used. There is no requirement for deticit payrnents atthe current time. The note5 form part of the%È financial statements. 21
ST MARYS OIURCH. CHIPPING NORTON PCC NOTES TO THE FINANaALSTATEMENTS FOR THE YÉAR ENDED 31 DECEMBER 2025 10, CHURCH WORKERS PEN510NS FUND ICWPFI- Continued The Church of England Pensions Board has agreed that some employers could use assets in the DBS of the CWPF in lieu of contributions to Pension Builder Classic andlor Pension Builder 2014. You will see this informatlon on your DBS statement which will be sent separately. The next valuation is being carried out as at 31 December 2U2S. The legal Structure of the scheme is such that if another employer fails, 5t Marys Church could become responsible for p3ying a share of the failed ernployer'5 pellsion liabilities. 11. RELATED PARTY DISCLOSURES The Branih Twst Chippin6 Nortoo Ir¢sistered charity number 1191055) The PCC of St. Mary's Church. Chipping Norton has a c105e relationship with the Branch lThe Branch Trust. Chipping Nortonl. The Branch w35 sèt up durring 202n, and it wa5 intended that the two charities work together in 3 mtuallY beneficial wav. The Chief Executive of the Branch, Emma Kennedy, is married to the Chair of The PCC and Team Rector of St. Mary's Church, Chipping Norton, Rev Dr james Kennedy. Three of the Trustees of the PCC are also Trustee5 of the Branch, these are Mr B Rees, Mr T Woolcock and Mr G Povey and Mr B Rees is Chair of the 8r8nch. During the year ended 31 December 2025, the PCC of St. Mary's Church, Chipping Norton rnade doriations of £11.950 to the BrancFt from the Butlding to Servp Fund12024.£43,9001. In 2024, a further donation ol £5,616 wa5 made to the 8ranch from the Freedom Fund. The PCC paid the Branch Trust £11,800 for use of ofTice facillties for the year ended 31 December 2025 12024-E6,883 for the period l June 2024 tts 31 DeCeber 20241 The PCC charged the Branch for £5,678 12024-É6,1881 for our support for their children ènd families work. Chipping Norton Area Christian Trust (registered charity number 11584631 The PCC of St. Mary's Church, Chipping Norton h2s a close relationship with The Chipping Norton Area Christian Trust The Chair of The Chipping Norton Area Chrirtian Trust, Rev Dr James Kennedy, is also the Chair of the PCC of St. Mary's Church, Chipping Norton. During the year to 31 Decetnber 2025, the Chipping Norton Area Christian Trust made grants of £23,680 12024.. £8,280) to the PCC of St. Mary's Church, Chipptng Norton for youth and children's work. As of 31 December 2025. there was a balance carried forward for use in future year5 of £18,92012024.. £4401. Oxford Diocesan Board of Finan The PCC pays a 'Parish Share, to the Oxford Diocesan Board of Finance. The Team Rettor and Curate are employees of the Oxford Diocesan Board of Finance. The notes form part of these financial statements. 22