St Wilfrid’s Church - Wilford Parish
Annual Finance Report 2024 (APCM 2025)
The Finance Team are responsible for the good stewardship of church finances in partnership with the Parochial Church Council (PCC). Together we acknowledge with gratitude the gifts entrusted to our stewardship and seek to use those gifts to further God’s purpose in Wilford, the local community, and the world. The following information demonstrates how St Wilfrid’s Church serves the local community and public benefit.
At the end of each year the Finance Group meet and set budgets based on a forecast of current income and expenditure with consideration for trends over the previous three to five years. We also consider known and potential changes in the year ahead. It is customary to revise the budget early in the new year and for it to be presented to, and authorised by, the PCC.
The accounts presented here have been independently examined by our accountant, Andrew Pearson.
At the end of 2023 the finance group, with support of the PCC, set a budget for the year that recognised the increased giving towards the end of 2023 and the ambitious mission activity anticipated for 2024. It was a balanced budget but relied on a continued increase in giving to meet the missional demands.
The Trustees decided to continue a range of missional activities, such as Alpha Courses, Comms and Creativity and ‘Tables’ (A version of Home Groups). Reserves were put aside for new music equipment and replacing the gutters. The new tech equipment, music equipment and children’s facilities will be assets held on behalf of the church moving forward.
To fund the increased spending, we budgeted for congregational giving to increase to £124,450 with anticipated gifts of £7000 and gift aid of £25,000. Congregational giving had been on the rise through 2023 thanks to the dynamic leadership of George and his team, and you our generous church family, we therefore set our target high in expectation of a continued increase. Direct giving did increase, to £117,007 (by £28,000 on the previous year), gifts decreased to £2726 and gift aid was £27887 (although some of that was actually relating to gift aid from 2023). All in all, giving was lower than budgeted, but we did not claim the final amount of gift aid which would have gained us a total above the budget. The final income was £203,812 short of expenditure by just over £6000.
The operating expenditure for 2024 was also set high to accommodate increased ministry spending. The amount of Parish Share allocated by the Deanery was £71,364 and paid in full. The total expenditure was set at £221,491 and finished at £209,933, £11,496 under budget. Many budget areas came under budget such as maintenance, clergy expenses and worship and production, but we exceeded the budget on ‘Connect’ and significantly on energy costs. This was due to catching up electricity arrears from the previous two years which had not been notified to us on one of the meters.
After adjustments the reserves decreased on those at the end of 2023 by about £6300 and we had approximately £39,000 to carry into 2024.
There was no major incident in 2024
St Wilfrid’s Church - Wilford Parish
Annual Finance Report 2024 (APCM 2025)
The church finances appear healthy, and we are blessed by God’s grace and with the generosity of our church family.
We look forward to even greater growth in 2025 which will allow us to meet new mission objectives and grow God’s kingdom.
Thanks be to God - Amen
FINANCE GROUP 2024
Members 2023: Peter Brown – Wendy Cranefield – Eddie Mason – Rob Steel - Gary Evans – Paul Wicks – George White
Giving Secretary – Helen Lander Independent Examiner – Andrew Pearson
Accounts & Examiners Report
St Wilfrid’s Church - Wilford Parish
Annual Finance Report 2024 (APCM 2025)
St Wilfrids Church (Reg No 1082849) for the year ended 31 December 2024
Report to the Trustees/Members
I report to the charity trustees on my examination for the year ended 31 December
2024 which are set out below
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
to follow the applicable Directions given by the Charity Commission (under section
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145(5)(b) of the Act, and
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to state whether particular matters have come to my attention
St Wilfrid’s Church - Wilford Parish
Annual Finance Report 2024 (APCM 2025)
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Charities Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Independent Examiner
Date 28 February 2025
Andrew Pearson F.C.M.A. 87 Main Street Newtown Linford Leicestershire LE6 0AF