Parish Church Of St Mary Plaistow (Bromley)
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Annual Report and Financial Statements of the Parochial Church Council for the year ended 31St December 2024
Incumbent: Rev. Eucharia Asiegbu
Bank: National Westminster Bank Bromley, Kent
Independent Examiner: Edwina Davis CA CTA
Registered Charity Number 1132142.
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Finance and General Purpose: oversees the general finances and other operational | needs of St Mary's, by monitoring income and expenditure, budgeting and co| ordinating the review of Christian giving. | | House and Hall: attends to matters relating to the running of House and Hall, by | dealing with lettings, maintenance, income and expenditure budgeting. | Magazine: attends attends to the production of the the parish magazine, including editing, sale | advertising space, printing and and distribution | Pastoral Team: keeps Team: keeps keeps in contact with with and supports Church Church members.
Administrative Information
St Mary’s Church is situated in College Road, in an area of Bromley referred to as Plaistow. It is part of the Diocese of Rochester within the Church of England. The correspondence address is The Parish Office, 61 College Road, Bromley, BR1 3QG.
The Parochial Church Council (P.C.C.) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is registered with the Charity Commission as charity number 1132142.
Objectives
St Mary’s P.C.C. has the responsibility of co-operating with the Vicar, Revd. Eucharia Asiegbu, in promoting in the ecclesiastical parish the whole mission of the Church: pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for St Mary’s Church House and Hall (61 College Road) and 31 Fairfield Road.
P.C.C. Membership
Members of the PCC are ex-officio, co-opted or elected by the Annual Parochial Church Meeting (A.P.C.M.) in accordance with the Church Representation Rules. All P.C.C. members are Trustees of the Charity.
During the year the following people served as members of the PCC:
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Incumbent: Revd. Alan Keeler (Jan); Revd. Eucharia Asiegbu (from Nov)
Wardens: Maria Staines and Clem Sutton
Representatives of Deanery Synod: Trine Hevezi (and one place vacant)
Co-opted members: Jill Atkinson -Treasurer; Revd. Alison Tyler - retired priest.
Elected members: (9 places available) John Beale; Frances Boyden (until April 2024); Sylvia Chance; Michael Clements (from April 2024); Merle Jones (until April 2024); Paul Knight; Lisa Morris; Anthia Page; Suzanne Spooner (until April 2024); Atlanta Topham (until April 2024);
Committees:
The PCC operates through a number of committees which meet between full meetings of the the PCC.
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| | meetings of the the PCC. | Standing: this is the only committee required by law. It has the power to transact | the business of the PCC between its meetings, subject to any directions given by | the Council.
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Magazine: attends attends to the production of the the parish magazine, including editing, sale of advertising space, printing and and distribution
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Pastoral Team: keeps Team: keeps keeps in contact with with and supports Church Church members.
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Safeguarding and Health and Safety Committee: develops the safeguarding policies of St Marys and implements good practice.
Sunday Club: plans and supervises the work with young people and children.
In addition to the above, various working parties are set up to implement strategy and action agreed by the PCC.
Church Attendance
There were 94 people on the electoral roll at the A.P.C.M. in April 2024. The average Sunday attendance in church in October 2024 was 41 adults and 6 children, with a high number of “views” of the online recordings. 176 people attended the services on Christmas Eve and Christmas Day.
Review of the Year
St Mary’s hasa lively congregational life expressed in a central tradition. The congregation has a great variety of people and interests. There are many ways in which people express their worship and service.
The vicar, Alan Keeler, retired in January 2024, and the P.C.C. were kept busy making arrangements, not only for the appointment of a new vicar, but also to continue the regular services and events in Church. We were very grateful to Alison Tyler and a number of visiting priests for leading worship each Sunday throughout the year, including former curates Lionel Kevis and Gary Colville, and Martin Henwood, son of a previous incumbent Peter, who had sadly died during the year. Eucharia Asiegbu was appointed as vicar and was welcomed, appropriately, by another former vicar, Bishop Simon Burton-Jones, at the start of November. A new All-age Family Communion service was developed, and there were several courses on offer to church members.
The church building has a sense of grandeur, and has generally been kept in good repair, thanks to the continuing efforts of volunteers. The boiler continued to receive attention, and further work on repairs to the church roof were carried out. The vestry was treated and the walls replastered prior to painting. The long-awaited work on the restoration of the murals finally began in October.
During 2024 there were four baptisms, no weddings and two funerals. One adult was confirmed.
St Mary’s Financial Strategy
The accounts of a church can be daunting to read. But the detail expresses the basic shape of money that is received and money that is spent. As a principle a church should be managed to enable its mission to be effective. The key financial activity is wise expenditure and having strategic savings. It is about using money so that the life of the church flourishes for the glory of God.
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St Mary's spends money in a variety of ways: To the Diocese of Rochester:
This pays for the diocese, the national church and clergy training It pays the stipends of the clergy
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There is payment for ministry: The life of worship and music Youth work Administrative staff
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The running and repairs of: The church building Church House 31 Fairfield Road Supporting mission agencies
St Mary’s receives money in a variety of ways From the giving of the congregation Planned giving Gift Aid Legacies Collections in the services . Fees for certain services and activities Money raised from our assets The activities of Church House The rent from 31 Fairfield Road Interest on investments
St Mary's saves money in a variety of ways Money put aside for the quinquennial repairs to the building Moneys given for specific purposes e.g. The Knight bequest for the roof The Organ fund The Margaret Turner Fund for missionary outreach and spiritual education Moneys given for specific projects e.g. The Murals Restoration Moneys held for ongoing ministry e.g. The Magazine fund
Put in this way the giving of the congregation is part of enabling the work of the church to be vibrant. How we give and how we spend is about seeing the Christian faith prosper in our congregation and community. So, when we talk about stewardship it is not about just making ends meet but enabling our vision of serving God to be enabled. The big picture is about seeing our church grow in faith, in service and in numbers. Our money is part of that vision.
Financial Review
Church members continued their generous support, not only in their regular giving towards general expenses, but also through donations - sometimes very unexpected - to various collections and appeals, and in the use of their time and talents. A Christmas Fair raised a large sum towards general expenses; legacies were received from the estates of Joy Blackbourn and Heather Hibbert; and the careful management of the House & Hall complex ensured that the total in unrestricted funds increased, although having spent savings in the Murals Fund, there was a sharp drop in the total value of restricted funds. A regular working party set up one Saturday a month has led to an improvement in the appearance of the church and its grounds. However, work on the porch, the roof and the church heating system remains unfinished, repairs are needed to Church House, and discussions continue about the best way to finance these in the future. Furthermore, although regular givers have continued to support the church, sadly some have died or moved away since the stewardship campaign in 2021, and thought still needs to be given to how
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best to encourage new contributors and the positive revision of existing standing orders by those who can afford it.
Reserves and investment policy
The PCC needs reserves to enable it to progress its work and to protect its current activities, in order to allow the PCC to meet its responsibilities and to ensure that it continues to operate on a going concern basis. The PCC has examined the needs, risks and challenges faced in both the short and medium term and has formulated a policy to meet those needs, which are satisfied by the level of reserves at the balance sheet date.
The current level of free reserves represents 41/2 months expenditure. The PCC’s policy is to have between 6 months and 12 months expenditure held in reserve. The PCC, through the Finance and General Purposes Committee, monitors the position, most recently on 28" April 2025. Where reserves fall below 6 months expenditure, income and expenditure are monitored more closely by the Trustees to ensure the Charity can continue to meet its financial obligations when due. It is our strategy to invest our funds balances with the CBF Church of England Deposit Fund; National Savings and Investments and National Westminster Bank.
Risk Management
During the year we continued the programme of identifying the major risks which impact the work of the church in the parish. DBS checks were kept up to date, and the Safeguarding and Health and Safety Committee worked hard to ensure all the risks relating to church activities were assessed correctly. The small electrical appliances used throughout the church complex received their annual test and all the fire extinguishers were checked. Gratings and flagstones in church as well as the safety of the trees, and of the paths in the churchyard continue to be monitored and snow guards were installed to catch any slipping roof slates. The recommendations of a survey of 31 Fairfield Road were acted upon, and all the church properties are let through agents, and have continued to provide a reliable source of income. Whilst the church does not act as a custodian for funds belonging to others, the church does, from time to time, collect money on behalf of other charities (e.g. The Children’s Society). Such funds are kept separate from the Church funds until such time as they are paid over.
The Report of the P.C.C. has been prepared in accordance with Financial Reporting Standard 102 (effective January 2016).
Approved by the PCC on 4"" May 2025 and signed on their behalf by
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Revd. Eucharia Asiegbu - Vicar
IV
Accounts 2024
PAROCHIAL CHURCH COUNCIL OF ST MARY, PLAISTOW, BROMLEY
Statement of Financial Activities
for the year ended 31 December 2024
| Note | Unrestricted Restricted Funds Funds |
Unrestricted Restricted Funds Funds |
Unrestricted Restricted Funds Funds |
TOTAL FUNDS 2024 2023 |
TOTAL FUNDS 2024 2023 |
TOTAL FUNDS 2024 2023 |
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| £ | £ | £ | £ | ||||
| Incoming Resources | |||||||
| Voluntary Income | 2(a) | 62,004 | 14,204 | 76,208 | 85,441 | ||
| Activities forGenerating Funds | 2(b) | 43,675 | 0 | 43,675 | 44,205 | ||
| Income from Investments | 2(c) | 56,253 | 2,374 | 58,627 | 62,550 | ||
| Income from Church Activities | 2(d) | 1,097 | 0 | 1,097 | 1,137 | ||
| Other incoming Resources | 2(e) | 0 | 0 | 0 | 7,544 | ||
| Total Incoming Resources | —463,029..~—=«16,578 | "479,607. | ~—«-200,877 | ||||
| Resources Expended | |||||||
| Church Activities | 3(a) | 155,466 | 69,701 | 225,167 | 157,280 | ||
| Raising Funds | 3(b) | 0 | 0 | 0 | 0 | ||
| Total ResourcesExpended | "455,466 | 69,701 | "925,167. | ~~—«157,280 | |||
| NET INCOMING/(OUTGOING) RESOURCES |
7,563 | -53,123 | -45,560 | 43,597 | |||
| Gains& Losses on Investments | 0 | 296 | 296 | 61,112 | |||
| NETMOVEMENTONFUNDS | 7,563. | 52,827 | °~«~SSWGASC~*«iA,0 | ||||
| Balances broughtforward at 1.1.2024 | 389,070 | 170,790 | 559,860 | 455,151 | |||
| Balances carried forward at31.12.2024 |
£ | 396,633 | 117,963 | 514,596 | 559,860 |
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Page 1
Accounts 2024
PAROCHIAL CHURCH COUNGIL OF ST MARY, PLAISTOW, BROMLEY
Statement of Financial Activities for the year ended 31 December 2023
Prior year SOFA for comparative purposes
| Note | Unrestricted | Restricted | TOTAL FUNDS | ||
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| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Incoming Resources | |||||
| Voluntary Income | 2(a) | 50,776 | 34,665 | 85,441 | |
| Activities for Generating Funds | 2(b) | 44,205 | 0 | 44,205 | |
| Income from Investments | 2(c) | 60,942 | 1,608 | 62,550 | |
| Income from Church Activities | 2(d) | 1,137 | 0 | 1,137 | |
| Other Incoming Resources | 2(e) | 0 | 7,544 | 7,544 | |
| Total Incoming Resources | 157,060 | 43,817 | 200,877 | ||
| Resources Expended | |||||
| Church Activities | 3(a) | 146,983 | 10,297 | 157,280 | |
| Raising Funds | 3(b) | 0 | 0 | 0 | |
| Total Resources Expended | 146,983 | 10,297 | 157,280 | ||
| NET INCOMING/(OUTGOING) | |||||
| RESOURCES | 10,077 | 33,520 | 43,597 | ||
| Gains & (Losses) on Investments | 60,000 | 1,112 | 61,112 | ||
| NET MOVEMENT ON FUNDS | 70,077 | 34,632 | 104,709 | ||
| Balances brought forward at 1.1.2023 | 318,993 | 136,158 | 455,151 | ||
| Balances carried forward | |||||
| at31.12.2023 | £ | 389,070 | 170,790 | 559,860 |
Page 2
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Accounts 2024
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PAROCHIAL CHURCH COUNCIL OF ST MARY, PLAISTOW, BROMLEY
Balance Sheet at 31 December 2024
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| Note | 2024 | 2023 | ||
|---|---|---|---|---|
| Fixed Assets | ||||
| Tangible Fixed Assets | 0 | 0 | ||
| Investment Assets | ||||
| 31 Fairfield Road | 5 | 300,000 | 300,000 | |
| Church of England Investment Fund | ||||
| - Income Shares | 13,226 | 12,930 | ||
| 313,226 | 312,930 | |||
| Current Assets | ||||
| Debtors -Church Debtors - Tax recoverable |
2,608 11,335 |
4,827 26,435 |
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| Debtors -House& Hall Short term deposits |
7,952 123,037 |
3,400 125,636 |
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| Cash at bank and in hand -Church | 50,072 | 63,694 | ||
| Cash at bank - House & Hall | 33,040 | 35,953 | ||
| Cash at bank and in hand - Magazine | 2,120 | 2,017 | ||
| 230,164 | 261,962 | |||
| Liabilities: amounts falling due | ||||
| within one year | ||||
| Sundries | 22,551 | 13,167 | ||
| Prepayments re House & Hall | 6,243 | 1,865 | ||
| Magazine | ||||
| 28,794 | 15,032 | |||
| Net current assets | 201,370 | 246,930 | ||
| NETASSETS | £ | 514,596 | 559,860 | |
| FUNDS | ||||
| Unrestricted | 396,633 | 389,070 | ||
| Restricted | 117,963 | 170,790 | ||
| £ | 514,596 | 559,860 |
The Financial Statements have been prepared in accordance with Financial Reporting Standard 102 (effective 2016).
Approved by the Parochial Church Council on 4th May 2025 and signed on its behalf by :
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Qy-
E. Asiegbu (Chairman)
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Sut. Abbetron s te J.E. Atkinson (Treasurer)
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Page 3
Accounts 2024
PAROCHIAL CHURCH COUNCIL OF ST MARY, PLAISTOW, BROMLEY
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Notes to the Financial Statements
4. ACCOUNTING POLICIES
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, the Financial Reporting Standard 102 and the Charities SORP.
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements are the consolidation of all the activities of St Mary's including House & Hall.
Funds
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
These accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another church body nor those that are informal gatherings of Church members.
Voluntary income and capital sources
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the donations are received. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount. Funds raised by fete, garden party and similar events are accounted for net as expenses are not significant. Sales of books and magazines from the church bookstall are accounted for gross.
Other ordinary income Rental income from the letting of church premises is normally recognised when the rental is due.
DividendsIncome from investmentsand interest
and interest are accounted for when receivable and are all received gross.
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.
Resources Expended
Grants Grants or donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
Activities directly relating to the work of the Church £60,000 was paid as the 2024 Diocesan Offer by 31st December.
Page 4
Accounts 2024
Fixed Assets
Consecrated land and buildings and movable church furnishings
Consecrated and benefited property is excluded from the accounts by S. 96(2)(a) of the Charities Act 1993. No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure and separately disclosed.
The Church building and contents are currently insured for £18,290,000. The current figures for House and Hall are £3,219,749 (buildings) and £58,760 (contents).
Other fixtures, fittings and office equipment Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £2,000 or less are written off when the asset is acquired.
Investments
Investments in shares are shown at market value at 31 December.
Other land and buildings The PCC ownsa half share in the freehold interest in 31 Fairfield Road. This was previously the curate's house but is now rented to provide investment income. The remaining share is owned by the Diocese of Rochester. The value shown is the market value as estimated as at 31st December 2023 based on published records of local sales. As the property is intended to continue to be held as an investment and not sold in the short term, a revaluation will be undertaken when either the trustees consider that the local market conditions have changed materially, or a sale is envisaged.
it is anticipated that a period of not more than 5 years should elapse between revaluations. It is currently insured for £545,949 based on rebuilding costs as at November 2024.
Current assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors. No provision is considered necessary for amounts that may prove uncollectable. Short term deposits are held on deposit with the National Savings Bank, the Central Board of Finance of the Church of England or the PCC's bankers.
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Page 5
Accounts 2024
2. INCOMING RESOURCES
| Unrestricted | Restricted | TOTAL FUNDS | TOTAL FUNDS | ||
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| Funds | Funds | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| 2(a) Voluntary Income | |||||
| Planned giving: | |||||
| GiftAid donations | 31,313 | 31,313 | 35,678 | ||
| Income tax recoverable | 11,567 | 11,567 | 9,525 | ||
| Other planned giving | 6,564 | 6,564 | 2,920 | ||
| Other collections at all services | 3,250 | 1,074 | 4,324 | 3,004 | |
| Grants | 2,500 | 2,500 | 4,500 | ||
| Donations, appeals etc | 7,032 | 5,130 | 12,162 | 25,364 | |
| Income tax recoverable on other income | 500 | 500 | 4,450 | ||
| Legacies | 2,278 62,004 |
5,000 14,204 |
7,278 76,208 |
0 85,441 |
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| 2(b) Activities for Generating Funds | |||||
| Sales and other Fund Raising events | 2,662 | 2,662 | 50 | ||
| Church Hall lettings | 41,013 | 41,013 | 44,155 | ||
| 43,675 | 0 | 43,675 | 44,205 | ||
| 2(c) Income from investments | , | ||||
| Dividends and interest | 1,310 | 2,374 | 3,684 | 2,756 | |
| House and Hall - Flats and office | |||||
| lettings | 39,606 | 39,606 | 44,352 | ||
| 31 Fairfield Road | 15,337 | 15,337 | 15,442 | ||
| 56,253 | 2,374 | 58,627 | 62,550 | ||
| 2(d) Income from Church Activities | |||||
| Magazines Memorial books |
432 60 |
432 60 |
634 120 |
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| Fees | 605 | 605 | 383 | ||
| 1,097 | 0 | 1,097 | 1,137 | ||
| 2(e) Other Incoming Resources | |||||
| Insurance claim | 0 | 7,544 | |||
| 0 | a | 0 | 7,544 | ||
| TOTALINCOMINGRESOURCES | £ | 163,029 | 16,578 | 179,607 | 200,877 |
Page 6
Accounts 2024
3. RESOURCES EXPENDED
| 3. RESOURCES EXPENDED | ||||||
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| Unrestricted | Restricted | TOTAL | FUNDS | |||
| Funds | Funds | 2024 | 2023 | |||
| £ | £ | £ | £ | |||
| 3(a) Church Activities | ||||||
| Missionary & charitable giving: | ||||||
| Church overseas: | ||||||
| Missionary societies | 538 | 538 | 600 | |||
| Relief& development agencies | 118 | 182 | 300 | 325 | ||
| Home missions & other church societies | 1,736 | 354 | 2,090 | 2,955 | ||
| Secular charities | 0 | 0 | ||||
| Ministry: | ||||||
| Diocesan offer | 59,641 | 359 | 60,000 | 60,000 | ||
| Clergy & Ministry team expenses | 4,766 | 4,766 | 5,067 | |||
| Church running expenses: | ||||||
| Heating & lighting | 5,559 | 5,559 | 2,490 | |||
| Insurance | 7,910 | 7,910 | 6,858 | |||
| Cleaning | 1,908 | 1,908 | 1,467 | |||
| Church maintenance | ||||||
| General maintenance | 4,231 | 4,231 | 5,305 | |||
| Boiler repairs | 0 | 2,700 | ||||
| Repairs covered by insurance | 0 | 7,544 | ||||
| Murals restoration | 65,364 | 65,364 | 0 | |||
| Upkeep of services | ||||||
| Altar wine, candles etc | 588 | 588 | 495 | |||
| Flowers | 279 | 447 | 726 | 982 | ||
| Upkeep of churchyard | 200 | 200 | 475 | |||
| Magazine & bookstall | 329 | 329 | 364 | |||
| Cost of Youth work | 35 | 35 | 214 | |||
| Hall running & repair costs | 53,358 | 53,358 | 43,913 | |||
| Upkeep of 31 Fairfield Road | 2,434 | 2,434 | 3,102 | |||
| Organist honoraria | 2,361 | 2,361 | 2,350 | |||
| Other | 1,826 | 1,165 | 2,991 | 1,802 | ||
| Parish administrator & expenses | 6,646 | 6,646 | 5,340 | |||
| Printing & stationery | 1,247 | 1,247 | 2,039 | |||
| Bank Charges | 277 | 277 | 287 | |||
| Margaret Turner fund payments | 1,292 | 1,292 | 541 | |||
| Memorial Books | 17 | 17 | 65 | |||
| 155,466 | 69,701 | 0 | 225,167 | 157,280 | ||
| 3(b) Raising Funds | ||||||
| Stewardship costs | 0 | 0 | ||||
| 0 | 0 | 0 | 0 | |||
| TOTALRESOURCESEXPENDED | £ | 155,466 | 69,701 | 225,167 | 157,280 |
Page 7
Accounts 2024
2024
2023
| 2024 | 2023 | ||
|---|---|---|---|
| 4. CONTRACTOR COSTS | |||
| Organists | 2,361 | 2,350 | |
| Parish Administrators | 18,776 | 17,369 | |
| Cleaners | 8,801 | 10,373 | |
| £ | 29,938 | 30,092 |
No material reimbursements of travelling or subsistence expenses were made to PCC members, other than the clergy expenses shown above. Atlanta Topham was a member of the PCC until April 2024. Between January and April 2024 she was paid £6,682 for administrative support.
In 2024 PCC members contributed £5,813 to the church's general income.
5. INVESTMENT ASSETS
| 5. INVESTMENT ASSETS | |||||
|---|---|---|---|---|---|
| Freehold | |||||
| 31 Fairfield Road | 2024 | 2023 | |||
| £ | £ | ||||
| VALUATION as at 31 December 2023 | 300,000 | 240,000 | |||
| INCREASE IN ESTIMATED VALUE | 0 | 60,000 | |||
| VALUATION as at 31 December 2024 | 300,000 | 300,000 | |||
| 6. ANALYSIS OF ASSETS BY FUND | Unrestricted | Restricted | TOTAL | FUNDS | |
| Funds | Funds | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Fixed assets | 0 | 0 | 0 | 0 | |
| Investments | 300,000 | 13,226 | 313,226 | 312,930 | |
| Current assets | 125,427 | 104,737 | 230,164 | 261,962 | |
| Liabilities | -28,794 | -28,794 | -15,032 | ||
| Fund balance | £ | 396,633 | 117,963 | 514,596 | 559,860 |
| Analysis by fund: | Unrestricted | Restricted | TOTAL | FUNDS | |
| Funds | Funds | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Augmentation | 13,226 | 13,226 | 12,930 | ||
| BATS | 250 | 274 | 524 | 524 | |
| Christmas Journey | 791 | 791 | 791 | ||
| 31 Fairfield Rd - Church Repair fund | 6,001 | 6,001 | 4,877 | ||
| 31 Fairfield Rd - Property | 300,000 | 300,000 | 300,000 | ||
| Fabric General |
22,677 3,849 |
723 | 23,400 3,849 |
28,179 751 |
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| House & Hall | 34,749 | 34,749 | 37,488 | ||
| Roof (Knight) | 45,893 | 45,893 | 45,263 | ||
| Magazine | 2,120 | 2,120 | 2,017 | ||
| Margaret Turner Fund | 31,096 | 31,096 | 31,943 | ||
| Memorial Books Fund | 4,294 | 4,294 | 4,251 | ||
| Murals | 8,000 | -3,856 | 4,144 | 48,868 | |
| Organ | 18,954 | 18,954 | 18,694 | ||
| Special purposes | 14,693 | 10,862 | 25,555 | 23,284 | |
| £ | 396,633 | 117,963 | 514,596 | 559,860 |
Page 8
Accounts 2024
| Analysis of Funds: | Unrestricted Restricted | Unrestricted Restricted | TOTAL FUNDS | TOTAL FUNDS |
|---|---|---|---|---|
| Augmentation Fund | Funds | Funds | 2024 | 2023 |
| The income from the Augmentation Fund is to be | used towards the cost of clergy stipends.Held by the Diocese. | |||
| Balance 1st January 2024 | 12,930 | 12,930 | 11,818 | |
| Dividends Clergy stipend |
359 -359 |
359 -359 |
353 -353 |
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| Unrealised gain/loss | 296 | 296 | 1,112 | |
| Carried forward | 13,226 | 13,226 | 12,930 | |
| BATS | ||||
| Restricted funds ofthe Baby and Toddler group. | ||||
| Balance 1st January 2024 | 250 | 274 | 524 | 524 |
| Total income | 0 | 0 | 0 | |
| Total expenditure | 0 | 0 | (e) | |
| Transfer from general fund | 0 | 0 | 0 | |
| Carried forward | 250 | 274 | 524 | 524 |
| Christmas Journey | ||||
| Monies received and spent running the Christmas Journey | ||||
| Balance 1st January 2024 | 791 | 791 | 791 | |
| Total general income | 0 | 0 | 0 | |
| Total expenditure | 0 | 0 | 0 | |
| Carried forward | 791 | 791 | 791 | |
| 31 Fairfield Road Fund | ||||
| The 31 Fairfield Road Fund is the original cost of31 | 31 Fairfield Road plus amounts set aside for the future | |||
| maintenance of the house. | ||||
| Balance in church repair fund 1st January 2024 | 4,877 | 4,877 | 5,753 | |
| Half ofmarket value (2023) | 300,000 | 300,000 | 300,000 | |
| Transfers from general church fund | 939 | 939 | 690 | |
| Interest received | 185 | 185 | 152 | |
| Repairs to property paid byfund | 0 | 0 | -1,520 | |
| Quinquennial inspection | 0 | 0 | -198 | |
| Carried forward | 306,001 | 306,001 | 304,877 | |
| Fabric Fund | ||||
| Monies in the fabric fund have been given ordesignated forwork to the church building. Held by the Diocese. | ||||
| Balance 1st January 2024 | 28,179 | 28,179 | 28,508 | |
| Donations Transfers from general church fund |
1,530 | 723 | 723 1,530 |
1,530 |
| Interest | 968 | 968 | 841 | |
| Payments from fund for church repairs Carried forward |
-8,000 22,677 |
723 | -8,000 23,400 |
-2,700 28,179 |
| General Church Fund | ||||
| Balance 1stJanuary 2024 | 751 | 751 | 1,897 | |
| Total general income | 77,050 | 1,074 | 78,124 | 67,566 |
| Total general expenditure | -101,483 | -1,074 | -102,557 | -98,992 |
| Transfer to Church Repair funds | -2,469 | -2,469 | -2,220 | |
| Transfer from House & Hall funds | 30,000 | 30,000 | 30,000 | |
| Transferfrom Special Purposes fund | 0 | 0 | 2,500 | |
| Carried forward | 3,849 | 0 | 3,849 | 751 |
| House & Hall funds | ||||
| Monies received through the operation ofthe "House & Hall" complex, | any surplus being | available to finance | ||
| the general expenditure of the church. | ||||
| Balance 1st January 2024 | 37,488 | 37,488 | 22,894 | |
| Total income | 80,619 | 80,619 | 88,507 | |
| Total expenditure | -53,358 | -53,358 | -43,913 | |
| Transfer to general church funds | -30,000 | -30,000 | -30,000 | |
| Carried forward | 34,749 | 34,749 | 37,488 | |
| Knight Bequest | ||||
| The Knight bequestwas given to the PCC specifically for repairs to the church roof. | ||||
| Balance 1stJanuary 2024 | 45,263 | 45,263 | 44,757 | |
| Interest | 630 | 630 | 506 | |
| Roof repairs | 0 | ie) | 0 | |
| Carriedforward | 45,893 | 45,893 | 45,263 |
Page 9
Accounts 2024
| Unrestricted | Unrestricted | Restricted | TOTAL FUNDS | ||
|---|---|---|---|---|---|
| Magazine Fund | Funds | Funds | 2024 | 2023 | |
| Monies received for the publication of the church | magazine. | ||||
| Balance ist January 2024 | 2,017 | 2,017 | 1,747 | ||
| Total income | 432 | 432 | 634 | ||
| Total expenditure | -329 | -329 | -364 | ||
| Carried forward | 2,120 | 2,120 | 2,017 | ||
| Margaret Turner Fund | |||||
| The Margaret Turner Bequest was given to aid missionary outreach to | the community | ||||
| and the spiritual education ofthe parishioners. | |||||
| Balance 1st January 2024 | 31,943 | 31,943 | 32,121 | ||
| AK farewell & EAwelcome |
-1,201 | -1,201 | 0 | ||
| Refreshments after special services | -81 | -81 | -139 | ||
| Course materials | -52 | -52 | 0 | ||
| 160th Commemoration | 42 | 42 | -402 | ||
| Interest | 445 | 445 | 363 | ||
| Carried forward | 31,096 | 31,096 | 31,943 | ||
| Memorial Books | |||||
| Monies received in return for entries in the church memorial | books. | ||||
| Balance ist January 2024 | 4,251 | 4,251 | 4,196 | ||
| Total income | 60 | 60 | 120 | ||
| Total expenditure | -17 | -17 | -65 | ||
| Carried forward | 4,294 | 4,294 | 4,251 | ||
| Organ Fund | |||||
| The monies in the organ fund have been given for repairs to | the church organ. | ||||
| Balance 1st January 2024 | 18,694 | 18,694 | 18,486 | ||
| Repairs (not routine maintenance) | 0 | 0 | 0 | ||
| Interest | 260 | 260 | 208 | ||
| Carried forward | 18,954 | 18,954 | 18,694 | ||
| Special Purposes Funds: | |||||
| Monies in the Special Purposes Fund have been | designated | or restricted to finance special | worthwhile projects | ||
| within the Church which fall outside its general running expenses. | |||||
| Balance ist January 2024 | 11,257 | 12,027 | 23,284 | 25,883 | |
| Donations & related tax | 1,280 | 447 | 1,727 | 836 | |
| Legacy - Hibbert | 2,278 | 2,278 | |||
| Purchases - Grace café, advert | -1,165 | -1,165 | -108 | ||
| Purchases - church flowers | -279 | -447 | -726 | -982 | |
| Interest | 157 | 157 | 155 | ||
| Transferred to General Fund | 0 | -2,500 | |||
| Carried forward | 14,693 | 10,862 | 25,555 | 23,284 | |
| Murals Fund | |||||
| Balance ist January 2024 | 48,868 | 48 868 | 15,776 | ||
| Fundraising/donations | 3,960 | 3,960 | 23,964 | ||
| Grants | 2,500 | 2,500 | 4,500 | ||
| Legacy | 5,000 | 5,000 | 0 | ||
| Interest | 680 | 680 | 178 | ||
| Expenditure | -65,364 | -65,364 | 0 | ||
| Income tax receivable | 500 | 500 | 4,450 | ||
| Temporary transfer from CRF | 8,000 | 8,000 | 0 | ||
| Carriedforward31stDecember | 8,000 | -3,856 | 4,144 | 48,868 |
Page 10
Accounts 2024
FOR THE YEAR ENDED 31 DECEMBER 2024
Summarised Analysis of Funds
| At | Transfers, | ||||
|---|---|---|---|---|---|
| 1 January | other gains | At | |||
| 2024 | Income | Expenditure | and losses | 31 Dec 2024 | |
| £ | £ | £ | £ | £ | |
| Unrestricted Funds - undesignated | 751 | 77,050 | -101,483 | 27,531 | 3,849 |
| Unrestricted Funds - designated | |||||
| 31 Fairfield Road Fund - church repair fund | 4,877 | 185 | 0 | 939 | 6,001 |
| 31 Fairfield Road Fund - property | 300,000 | ie) | 300,000 | ||
| BATS | 250 | 250 | |||
| Fabric Fund | 28,179 | 968 | -6,470 | 22,677 | |
| House & Hall Fund | 37,488 | 80,619 | -53,358 | -30,000 | 34,749 |
| Magazine Fund | 2,017 | 432 | -329 | 2,120 | |
| Memorial Books | 4,251 | 60 | -17 | 4,294 | |
| Murals Fund | 0 | 8,000 | 8,000 | ||
| Special Purposes Fund | 11,257 | 3,715 | -279 | 14,693 | |
| 388,319 | 85,979 | -53,983 | -27,531 | 392,784 | |
| Restricted Funds | |||||
| Augmentation Fund | 12,930 | 359 | -359 | 296 | 13,226 |
| BATS | 274 | 0 | 0 | 274 | |
| Christmas Journey | 791 | 0 | 0 | 791 | |
| Fabric | 0 | 723 | 723 | ||
| General Church Fund | 0 | 1,074 | -1,074 | 0 | |
| Knight Bequest | 45,263 | 630 | 0 | 45,893 | |
| Margaret Turner Fund | 31,943 | 445 | -1,292 | 31,096 | |
| Organ Fund | 18,694 | 260 | 0 | 18,954 | |
| Special Purposes Fund | 12,027 | 447 | -1,612 | 10,862 | |
| Murals Fund | 48,868 | 12,640 | -65,364 | -3,856 | |
| 170,790 | 16,578 | -69,701 | 296 | 117,963 | |
| Totalfunds | 559,860 | 179,607 | -225,167 | 296 | 514,596 |
Page 11
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| |
Independent examiner’s report to the trustees of the Parochial Church Council of the Parish Church of St. Mary (Plaistow) Bromley
| report to the trustees on my examination of the accounts of the Parochial Church Council of the Parish Church of St. Mary (Plaistow) Bromley (the Charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). | report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
| have completed my examination. | 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:
-
accounting records were not kept in respect of the Charity as required by section 130 of the Act; 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 (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.
| 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: KM
Name: Mrs Edwina Davis
Relevant professional qualification or membership of professional bodies (if any):
Chartered Accountant (CA) Chartered Tax Adviser (CTA)
Address: 62 Kings Avenue, Bromley, Kent, BR1 4HL
Date: 12 May 2025
|