CHARITY REGISTRATION NUMBER: 1132544 THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Unaudited Financial Statements 31 December 2024 UHY ROSS BROOKE Chartered Accountants 16 Dorcan Business Village Murdock Road, Dorcan Swindon Wiltshire SN3 SHY
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 10 The following pages do not form part of the financial statements Detailed statement of financial activities 26 Notes to the detailed statement of financial activities 28
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. ADMINISTRATIVE INFORMATION PCC members who served between 1st January 2024 and 3151 December 2024 are: Office Name Re•election date Ex Officio Members Incumbent Rev Phil Goodey Curate Vacancy Churchwarden Mrs Pam Linfield Churchwarden Mr Phil Sapwell Deanery Synod Rep Mrs Bobby Bailey Deanery Synod Rep Mrs Sandra Goodey Elected Members (elections are for a three-year term) Member Mr Stephen Fasham (PCC Treasurer) 2026 Member Mrs Julia Bishop 2026 Member Mr Peter Croton 2026 Member Mrs Bobby Bailey 2027 Member Mrs Jill Elbourn 2027 Member Mr Clive Webb 2027 Member Mrs Ruth Huband (Safeguarding Officer) (Resigned) 2024 2024 2026 2026 st Michael's Church is situated in Lechlade Road. Highworlh, near Swindon. It is part of the Diocese of Bristol within the Church of England. Th8 correspondence address is Church Office, Vicarage Lane, Highworth. Swindon, Wiltshire SN6 7AD. The PCC is registered with the Charity Commission (registered number 1132544). STRUCTURE, GOVERNANCE AND MANAGEMENT The method of appointment of PCC members is set out in the Church Representation Rules. At St Michael's, the membership of the PCC consists of the incumbent, curate, churchwardens and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. Given its wide responsibilities the PCC has a number of committees, each of which deals with a particular aspect of parish life. During 2024 the PCC and Standing Committee met 11 times either in person or via email. PCC meetings include a report from the Treasurer and updates from the Safeguarding Officer and Fabric committee. There wera reports about Eco Church when appropriate. Matters discussed at PCC meetings during the year included: CAP and Highworth Churches Together Sevenhampton Church, maintenance and services Church Finances and Parish Share Obligations Church Hall Eco Church Youth Ministry, what we need, how we meet that needs and the costs involved Telecommunications
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Trustees. Annual Report {eontinued) Year ended 31 December 2024 Structure, governance and management The PCC has responsibility for promoting within the parish of Highworth with Sevenhampton and Inglesham the whole mission of the Church - pastoral, evangelistic, social and ecumenical. All PCC members are trustees of the registered charity that is St Michael's. The trustees consider that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by Ihe Charity Commission and in particular the Commission's guidance in The Advancement of Religion for the Public Benefit., the trustees believe they have had regard to the duty in their administration of the PCC in ways including.. Providing the opportunity for Christian Worship by the community of Highworth through the benefit of the church building and worship leadership. Providing both a building and the leadership for Baptisms, Weddings and Funerals for the whole community of Highworth. Providing both a building and the leadership for community thanksgiving occasions. Providing leadership for Funeral Services at Swindon Crematorium Providing a building open for personal sanctuary and prayer, 7 days a week Offering pastoral care both to members of the public and to th8 church congregations Maintaining a Grade 1 Listed Building which is open to the public as part of the history and culture of our community and nation. Some of the events in the life of St Michael's during 2024 were as follows: Weekly provision of youth groups. A place for the town to celebrate an act of Remembrance every year {as well as other nationally recognised events and festivals)- Regular Children's Craft and Film days during school holidays. Providing a venue for town wide ecumenical events, such as Lent Lunches. Collections in various forms for the Swindon Foodbank, Prospecl Hospi, Christian Aid and Highworth's CAP Centre. Providing Boxes of Hope to over 80 families. Saturday drop in. A venue for musical concerts and a volunteer expo. Monthly meèt, greet and eat group giving older people in the church family and communrty a comfortable setting in which to social and enjoy a meal together. A regular weekly Toddler Group.
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Trustees. Ann ual Report {eontlnuéd) Year ended 31 December 2024 CoMMIEEs Standing Committee Membership - appointed at the first meeting of the new PCC, and consisting of not less than five persons, Chair of PCC {Vi¢ar} and Churchwardens, Treasurer. Ruth Huband and Bobby Bailey (elected PCC members). Members of PCC have a perpetual invitation and may be asked to attend as required. The PCC secretary is also Secretary to the Standing Committee The Standing Committee meetings alternate with the monthly PCC meetings. Its purpose is to carry out any time critical business of the PCC. and Garry out delegated actions by the PCC. Quorum- at least 4 members of the Standing Committee, including an elected PCC member. "Email exchanges of those who reply within a given time-frame in relation to the urgency of the situation will be summarized and submitted to the PCC to form a record of delegated decisions. The PCC will abide by the decisions of the Standing Committee by treating the Standing Committee as 'full PCC in miniature. ° Fabric Committee The Churchwardens have confirmed that the Registers are maintained in good order and the Church Plate is all present, and in good condition. To be br.utally honest the fabric committee is one of St. Michael's teams suffering from a lack of people. The verse'The heart is willing but the flesh is weak" describes the situation only too well. As a team we are getting older, most of us can no longer carry out anything other than the most Straightroard maintenance. We are also having to restrict ourselves from climbing ladders and going onto the roof- though we all think we still can, common sense tells us not to be so silly. We need fresh minds and bodies to join us. That said many issues have been dealt with by the team. For example, keeping the footpath lights working (this seems to be a perennial issue) unblocking sinks and cleaning a large wine stain from the church floor. The running of the church has been maintained with PAT testing electrical equipment and boiler maintenancelrepairs have been carrred out. Both of these are done by outside contractors who are engage through the office. More serious repairs are also contracted out (e.g. repairs to the church wall when a car hit it and repairs to the clock}. However, some of biggest projects have not been advanced. These include the repair of the flagpole and weathervane and replacing the lead on South Transept roof. These require more involved and technical discussions with contractors. ncluding on site (i.e. on the roofltower) than is reasonable to expect or possible for our admin team to deal with. We need an able-bodied team member with some building knowledge to take the lead on these projects - volunteers pleasel Stewardship Committee The committee met several times to plan the stewardship campaign and to ensure stewardship remains at the heart of Church lrfe. We continue to find meeting our financial responsibilities and potential projects challenging, while at the same time so many of us giving very sacrificially of our time. gifts and resources. Safe from Harm Committee This committee monitors the appointment of people to roles within the church involving childr8n, young people and vulnerable adults. The committee reports to the PCC on matters relating to the Safe from Harm guidelines and the Vulnerable Adults guidelines. standing Committee of PCC The standing committee met most months when the PCC is not planning to meet to ensure business was kept up to date and progressing as needed.
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Trustees. Annual Report (eontlnue Year ended 31 December 2024 Church Hall The Church Hall is now managed by the Parish Administrators with any issues being referred to the PCC for a decision. As a consequence of investigating loosening tiles in the kitchen ceiling there were concerns that the material above the ceiling might contain asbestos. A full professional asbestos survey was commissioned. This survey revealed the presence of asbeslos Ihroughout the building. Although none was of immediate danger, except above the kitchen ceiling. as it was sealed, the presence of asbestos would have made renovations and repairs to the building extremely complex and expensive. The building was closed while the PCC considered options for its future. Advice was taken unlikely costs of varrous options. It was decided that the PCC should dispose of the building given Ihat the cost of refurbishing it or replacing it would be prohibitive, and the church does not currently have any need for the building. In line with Church of England regulations the building's title is held by the Diocesan Board of Finance. Permission is currently being sought from that body to market the building for development. AIM AND PURPOSES st Michael and All Angel's Parochial Church Council (PCC) has the responsibility of co-operating with the incumbent. the Reverend Philip Goodey, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic. social and ecumenical. OBJECTIVES AND ACTIVITIES Our mission statement of 'To share Jesus, through growth in our love for God. each other and our communty,: continues to be worked out through a strategy of being a Church of congregations. 11 groups and Celebrations. The building is a major asset and beacon for the town. On many nights it is floodlit and serves as a heart-warming elCOMe home, as the traveller returns to Highworth. SUPPORT FOR OTHER ORGANISATIONS Support for others is very much a part of church life, and during the year St Michael's has been involved in a wide range of support for other organisations, working both for church and secular purposes, in local, national. and international organisations. Many members of the church remain very active in all aspects of town life. CHURCH ATTENDANCE The average normal weekly attendance during 2024 attendance was 68 adults and 4 children. The average normal weekly attendance does not include Baptisms or Festival services.
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Trustees. Annual Report (contlnu8d) Year ended 31 December 2024 ACHIEVEMENTS AND PERFORMANCE Youth and Children Church based youth groups. The weekly Toddler group runs during term time and continues to be very well supported. Children are admitted to communion before confirmation. Older People Continued success of the 'Midweek Church, with numbers regularly around 20 people Meet, greet and eat group gathers monthly for socialising and food. A weekly Saturday coffee morning in the church or church room. Other activities Making more use of the re-ordered building for worship and mission activities. Growth of parishes working together for services and events. Growth of our use of technology for services and prayer meetings and business meetings. FINANCIAL REVIEW The full details of our income and expenditure can be found in the Financial Report. Our Structured Giving, either by monthly bankerfs order or by the weeklylmonthly envelopes scheme, combined with the Gift Aid claim continues to be our major source of income. Clinton's Gift continues to support the church. The PCC is fully committed to ensuring we make a fair contribution towards Ihe Parish Share which is paid to the Diocese. These funds are used for supporting ministry, education and outreach, and other areas such as Parish support services and retired clergy. Information about finance is reported at PCC meetings. The PCC have not been able to meet its Parish Share contribution, being £30.000 below the requested amount. This is. in part, due to monthly giving reducing over the last few years and rising energy Gosts. The PCC will not be in a position to make up the shortfall in 2025. The PCC wishes to express its thanks to everyone who has contributed in any way to the ministry and mission of St Michael's. Donations Received Donations have been received during the year from Clinton's Gift towards Youth work, Parish Administration support and maintenance of the churGh. Clintons Gift is a charity whose primary aim is to further the religious and other charitable work in the parish of Highworth by repairing and maintaining the church. Clintons Gift support 500/0 of the costs of youth costs as well as a 20 % contribution towards the cost of Parish Administration. Planned giving is received for Christians Against Poverty (CAP) and Youth and Schools work. Donations have also been received for RBL Poppy Appeal, Christian Aid l Disasters Emergency Committee (DEC) and Boxes of Hope. Reserves Policy The PCC reserves policy is to maintain quarterfy budgeted income against quart8rly budgeted expenditure in the current account which requires quarterly income of £43,000 excluding support from Clintons Gift. Each year fvnds are transferred from the current account to the PCC Fabric, Legacies and Parish Mission account and allocated to Church floodlighting. church room and the Youth Project.
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Trustees. Annual Report (eontlnuèd) Year ended 31 December 2024 THE FUTURE Plans for 2025126 Providing a three-year training placement for a Curate (A priest in training) from the summer 2025-2028. Co-ordinating and enhancing our communications both in print and electronic will continue. Continued development of the preachers and leaders tearn through regular meetings for prayer and discussion of teaching themes. Employing a youlh worker to help= our outreach in to Warneford school, looking after the pastoral and spiritual needs of teenagers in the fall out of the Pandemic. Re-envision our Gurrent youth Glub, Start a community youth club to provide a safe and welcoming space for teenagers. Continue to support the CAP debt centre. Seeking the right way fojward to grow our relationships outside of current servic8s, especially for occasional services conlacts. Continuing the Saturday morning drop ins for community involvement in the life of St Michael's, which is proving successful in developing relationships outside of services. Ensure a crèche is provided each Sunday service. Continued integration of the 3 parishes for services and events where possible. RESPONSIBILITIES OF THE PCC MEMBERS The PCC members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the PCC members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the PCC members are required to.. select suitable accounting policies and then apply them consistently: obSee the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and pnjdent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The PCC members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. The PCC members are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Irustees, annual report was approved on ..l.J.l.osI.b.2 5 trustees by.. and signed on behalf of the board of Philip Goodey Rector
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Independent Examiner's Report to the Trustees of THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Year ended 31 December 2024 I report to the trustees on my examination of the finanGial statements of THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM ('Ihe Gharity.) for the year ended 31 December 2024. Responsibrlities and basis of report As the trustees of the charity you are responsible for the preparation of the financial staternents in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by th8 Charity Commission under section 145{5)(b) of th8 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- accounting records were not kept in respect of the charity as required by section 130 of the Act., or the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf 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. L Hobbs FCCA of UHY ROSS BROOKE Independent Examiner 16 Dorcan Business Village Murdock Road. Dorcan Swindon Wiltshire SN3 SHY
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Statement of Financial Activities Year ended 31 December 2024 2024 Restricted Endowment funds funds Total funds 2023 Unrestricted funds Total funds Nota Income and endowments Donations and legacies Charitable activities Other trading activities Inveslment income 111,819 25,103 2,742 1,350 27,313 139,132 25,103 2,742 1,945 137,762 29,698 3.235 1,605 595 Total income 141,014 27,908 168,922 172.300 Expenditure Expenditure on charitable activities 141,484 4,168 145,652 188,635 Total expenditure 141,484 4,168 145,652 188,635 Net incomel(expenditure) (470) 23,740 23,270 (16,335) Other recognised gains and losses Coal Fund investment gain St Michael's Church Fabric Fund investment gain Inglesham Church Fabric Fund investment gain Net movement in funds 187 187 (172) 401 401 1,449 198 198 153 (470) 23,740 786 24,056 (14,905) Reconciliation of funds Total funds brought forward Total funds Carried forward 27.583 37,521 32.623 97,727 112,632 27,113 61,261 33,409 121,783 97,727 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Tho notes on pages 10 to 24 form part of these flnanclal statements.
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM statement of Financial Position 31 December 2024 2024 2023 Note Fixed assets Tangible fixed assets Investrnents 15 16 17,502 33,409 18,333 32,623 50.911 50,956 Current assets Debtors Cash at bank and in hand 17 15,363 60,589 18,237 34.614 75,952 52,851 Creditors: amounts falling due within one year Net current assets 18 5.080 6,080 70,872 46,771 Totsl assets less current liabilities 121,783 97,727 Net assets 121,783 97,727 Funds of the charity Endowment funds Restricted funds Unrestricted funds 33,409 61,261 27,113 32.623 37.521 27,583 Total charity funds 19 121,783 97,727 These financi tatements were approved by the board of trustees and authorised for issue on and are signed on behalf of the board by.. P Goodey Rector S Fasham Trustee The notes on pages 10 to 24 form part of these financial statements.
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements Year ended 31 December 2024 General information The charity is a publiG benefit entity and a registered charity in England and Wales and is unincorporated. The address of Ihe principal office is statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (Charities SORP (FRS 102)} and the Charities Act 2011. Accounting policies Basis of preparalion The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the enlity. FUNDS Endowment funds {which are investments) are funds, the capital of which must be maintained; only income arising from the endowment may be used either as restricted or unre5tricled funds depending upon the purpose forwhich the fund was established. Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. Any balance remaining unspent at Ihe 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 apportioned to individual fijnds on an average balance basis only if a material sum is involved. General funds represent the funds of the PCC Ihat are not subject to any restrictions regarding their use and are available for application on the general purpose of the PCC. Funds designat8d for a particular purpose by the PCC are also unrestricted. The financial statements 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 body, nor those that are informal gatherings of Church members. 10
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (contlnued) Year ended 31 December 2024 Accounting policies (cpntlnued) INCOMING RESOURCES Voluntary income Colleclions are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is reGognised only when received. Income tax recoverable on Gift Aid donation5 is recognised when the income is recognised. Grants and legacies for the general purposes of the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain. Fund raising income is accounted for gross except for non material amounts of expenditure which are deducted from income. Other income Rental income from the letting of church premises is recognised when the rental is due. Income from investments Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year. 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 Decembar. RESOURCES USED Charitable activities Grants and donations are accounted for when paid over, or when awarded. if that award Creates a binding obligation on the PCC. The diocesan parish share is accounted for when due. Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet. 11
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (contlnuedj Year ended 31 December 2024 Accountlng policies (continued) FIXED ASSETS Consecrated property and movable church fumishings Consecrated and benefice property is not included in the accounts in accordance with s.96(2)(a) of the Charities Act 1993. Movable church fumishings held by the Vicar and Churchwardens on special trust for the PCC. and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's inventory which can be inspected at any reasonable time. For anything acquired prior to 2001 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2001 will be capitslised and depreciated in the accounts over their anticipated useful economic life All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings acquired before 1 January 2001 is written Other fixtures, fittings and office equipment Equipment used within the church premises is depreciated on a straight line basis over 5 years. Individual items of equipment with a purchase price of £1,000 or less are wrttten off when th8 asset is acquired. INVESTMENTS Investments are valued at market value at 31 December. CURRENT ASSETS Amounts owing to the PCC at 31 December in respect of f8es, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. Short-term deposits include cash held on deposit either with the CBF Church of England funds or at the bank. 12
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (contlnuedj Year ended 31 December 2024 Accounting policies (contlnued) Golng concern There are no material uncertainties about the charitvs ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes: restricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount Gan be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair valu8 of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if Ihe value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted fvnds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 13
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (contlnuod) Year ended 31 December 2024 Accounting policies (eontlnued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activilies includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including Ihose support costs and costs relating to the governance of the charity apportioned to charitab18 activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories refFecting the use of the resource. Dir8Ct costs attributable to a single activity are allocated direclly to thal activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable. justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequ&nt accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A deGrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depre¢lation Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual .value. over the useful economic life of that asset as follows.. Equipment 5t0 10years Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured. assets are measured at cost less impairment. Listed inv8Stments are measured at fair value with changes in fair value being recognised in income or expenditure. 14
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements fcontlnued) Year ended 31 December 2024 Accounting polici8S {contlnu8d) Financial instruments A financial asset or a financial liability is recognised only when the 8ntity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discount8d at a market rate of interest for a similar debt inslrumenl. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Where investments in shares or preference shares are publicly traded or Iheir fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Planned giving Tax recoverable Open plate collections Collections and donations for mission Other donations for church purposes 73.688 13.931 2.356 73,688 14,242 2,356 5,802 25,996 311 5,802 21.200 4,796 Grants Grants Contributions from other churches 15,281 1,767 15,281 1,767 111,819 27,313 139,132 Unrestricted Funds ReslriGted Total Funds Funds 2023 Donations Planned giving Tax recoverabl8 Open plate collections Collections and donations for mission Other donations for church purposes 73.382 17.732 1,336 73.382 19,485 1,336 8,450. 11,849 1.752 8.450 3.361 8,488 15
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (Gontlnuad) Year ended 31 December 2024 Donations and legacies (contlnuad) Unrestricted Funds Restricted Total Funds Funds 2023 Grants Grants Contributions from other churches 22,705 555 22,705 555 124,198 13.563 137,762 Charitabl8 activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Church Room rents Church hall rents Wedding and funeral fees 2,236 10,687 12,180 2,236 10,687 12,180 1.647 16,373 11,678 1,647 16,373 11,678 25,103 25,103 29,698 29.698 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Fund raising Floodlighting 2,466 276 2,466 276 2.882 353 2,882 353 2,742 2,742 3,235 3,235 Investment income Unrestricted Funds Restricted Total Funds Funds 2024 Income from listed investments Bank interest receivable Building society interest receivable 894 456 448 1,342 456 147 147 1,350 595 1.945 16
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Staternents (contlnued) Year ended 31 December 2024 Investment income (eontlnu•dJ Unrestricted Funds Restricted Total Funds Funds 2023 Income from listed investments Bank interest receivable Building society interest receivable 863 240 426 1,289 240 76 76 1.103 502 1,605 Expenditure on charitable actlvities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Secular charities Youth project Ministry Church running expenses Church maintenance Upkeep of services Church hall Vicars expenses Church room Other clergy expenses Moveable furnishing and equipment Support costs 3,268 1,794 49.711 22.829 7.295 2,653 10,716 4,637 10,727 4,168 7,436 1,794 49,711 22,829 7,295 2,653 10,716 4,637 10,727 831 27,023 831 27,023 141,484 4,168 145,652 Unrestricted Funds Reslricted Total Funds Funds 2023 Secular charities Youth project Ministry Church running expenses Church maintenance Upkeep of services Church hall Vicars expenses Church room Other clergy expenses Moveable furnishing and equipment Support costs 3,000 2,397 84,500 20,401 9.200 2.900 12,037 605 10,502 177 831 23.209 18,875 21,874 2,397 84,500 20.401 9,200 2,900 12,037 605 10,502 177 831 23,211 169,759 18,875 188,635 17
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (contlnued) Year ended 31 December 2024 Expenditure on charitable activities by activity type Activities undertaken Grant funding directly of activities Support Total funds costs 2024 Total fund 2023 Secular charities Youth project Ministry Church running expenses Church maintenance Upkeep of services Church hall Vicars expenses Church room Other clergy expenses Parish office Moveable fumishing and equipment Governance costs 7,436 1,794 49.711 7,436 1,794 49.711 21,874 2,397 84,500 22,829 7.295 2,653 10.716 4.637 10,727 22,829 7.295 2,653 10,716 4,637 10.727 20,401 9,200 2,900 12,037 605 10.502 177 18,672 22.446 22,446 831 831 4,577 831 4,539 4,577 117.798 831 27,023 145.652 188,635 10. Analysis of support costs Parish offic8 Total 2024 Total 2023 Staff costs Communications and IT General office 18,420 1,586 2,440 18,420 1,586 2,440 15.535 1,688 1,448 22.446 22,446 18,671 11. Net incomel(expenditure) Net incom81(expenditure} is stated aft8r chargingl{crediting)'. 2024 2023 Depreciation of tangible fixed assets 831 831 12. Independent examination fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 4,200 4,260 18
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (contlnued) Year ended 31 December 2024 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries 18,420 15,535 The average head count of employees during the year was 4 (2023.. 3). No employee received employee benefits of more than £60,000 during the year (2023: Nil). 14. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 15. Tangible fixed assets Land and buildings Equipment Total Cost At 1 January 2024 and 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 16.873 63.558 80,431 62,098 831 62,098 831 62,929 62,929 Carrying amount At 31 December 2024 16.873 629 17,502 At 31 December 2023 16,873 1.460 18,333 19
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (eontlnu•d) Year ended 31 December 2024 16. Investments Listed investments Cost or valuation At 1 January 2024 Addilions Other movements 32,623 786 At 31 December 2024 33,409 Impaimient At 1 January 2024 and 31 D8cember 2024 Carrying amount At 31 December 2024 33,409 At 31 December 2023 32,623 All investments shown above are held at valuation. Financial assets held at fair value Listed investments are valued according to the listed unit pric8 at the balance sheet date. Holdings at 31 December 2024: 911 shares in the CBF Church of England Investment Fund 181 shares in the CBF Church of England Fixed Income Fund 820 units in the M&G Equities Investment Fund for Charities (Charifund) 17. Debtors 2024 2023 Other debtors 15,363 18,237 18. Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 5,080 6,080 20
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (contlnued) Year ended 31 December 2024 19. Analysis of charitable funds Unrestricted funds Gains and At losses 31 Dec 24 At1Jan24 Income Expenditure Transfers St Michael's Church General Fund St. Michael's Church Fabric Fund St James, Church Fabric Fund St. Michael's Church Hall Fund St. Michael's Church Flower Fund Highwoth and Hannington Bell Fund Inglesham Church Churchyard {10,490) 132.335 (127,954) {6,109) 35,259 374 35,633 29 1.003 (1.262) 1230) 24 5,695 (10,717) (4,998) 390 (100) 290 592 1,143 (756) 979 1,779 464 (695) (141.484) 1,548 27,583 141,014 27,113 Gains and At losses 31 Dec 23 At1 Jan23 Income Expenditur8 Transfers St Michael's Church General Fund St. Michael's Church Fabric Fund St James, Church Fabric Fund St. Michael's Church Hall Fund St. Michael's Church Flower Fund Highwoth and Hannington Bell Fund Inglesham Church Churchyard (611) 151,777 (161.656) (10,490) 34,783 201 275 35,259 1.395 910 (2,276) 29 672 3.024 (3,672) 24 488 50 (148) 390 425 1.869 (1.702) 592 1,681 403 (305) 1,779 38.833 158,234 (169.759) 275 27,583 21
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements {¢ontlnued) Year ended 31 December 2024 19. Analysis of charitable funds {contlnuedJ Restricted funds Gains and At losses 31 Dec 24 At1Jan24 Income Expenditure Transfers St. Michael's Church Mission Fund Miss Mary Hambidge's Will Coal Fund (Income) Other Restricted Donations 3.779 147 3,926 8,150 448 8,598 25.592 27,313 (4,168) (4,168) 48,737 37,521 27,908 61,261 Gains and At losses 31 Dec 23 At1Jan23 Income Expenditure Transfers St. Michael's Church Mission Fund Miss Mary Hambidge's Will Coal Fund (Income) Other Restricted Donations 3,703 77 (1) 3,779 7,724 426 8,150 31,179 13.562 (18,874) {18,875) (275) (275) 25,592 42.606 14,065 37.521 22
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (¢ontlnued) Year ended 31 December 2024 19. Analysis of charitable funds (contlnued) Endowment funds Gains and At losses 31 Dec 24 At1Jan24 Income Expenditure Transfers Miss Mary Hambidge's Will Coal Fund (Capital) St. Michael's Church Fabric Fund Inglesham Church Fabric Fund 7,146 187 7,333 17,542 401 17,943 7,935 198 8,133 32,623 786 33,409 Gains and At losses 31 Dec 23 At1Jan23 Income Expenditure Transfers Miss Mary Hambidge's Will Coal Fund (Capital) St. Michael's Church Fabric Fund Inglesham Church Fabric Fund 7,318 {172} 7,146 16,093 1,449 17,542 7,782 153 7,935 31,193 1,430 32,623 23
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Financial Statements (eontlnued) Year ended 31 December 2024 20. Analysis of net assets between funds Unrestricted Funds Restricted Endowment Total Funds Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 2,139 15.363 17,502 33,409 75,952 (5,080) 121,783 33,409 30.054 (5,080) 27,113 45,898 61.261 33,409 Unrestricted Funds Restricted Endowment Total Funds Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 2,970 15,363 18,333 32,623 52,886 (6,115) 97.727 32.623 30,728 (6,115) 27,583 22,158 37,521 32,623 21. Related parties There were no related paty transactions that require disclosure. 24
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Management Information Year ended 31 December 2024 The following pages do not form part of the financial statements. 25
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Income and endowments Donations and legacies Planned giving Tax recoverable Open plate collections Collections and donations for mission Other donations for church purposes Grants Contributions from other Churches 73,688 14,242 2,356 5,802 25,996 15,281 1,767 73,382 19,485 1.336 8,450 11,849 22,705 555 139,132 137,762 Charitable activities Church Room ntS Church hall rents Wedding and funeral fees 2,236 10,687 12,180 1,647 16,373 11,678 25,103 29,698 Other trading activities Fund raising Floodlighting 2,466 276 2.882 353 2,742 3,235 Investment income Income from listed investments Bank interest receivable Building society interest receivable 1,342 456 147 1.289 240 76 1,945 1,605 Tolal income 168,922 172,300 26
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Detailed Statement of Financial Activities (contlnued) Year ended 31 December 2024 2024 2023 Expendilure Expenditure on charitable activities Wages and salaries Rates and water Light and heat Repairs and maintenance Insurance Other establishment Legal and professional fees Telephone Other office costs Depreciation Other interest payable and similar charges Other expenditure for the work of the church 18,420 1,539 23,736 18,761 6,686 267 4,200 2,164 1,102 831 377 67,569 15,535 633 21,175 21,841 7,111 1,380 4,260 1,688 818 831 279 113.084 145,652 188,635 Total expenditure 145,652 188,635 Net incomel{expenditure) 23,270 (16,335) 27
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS. HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Expenditure on charitable activities Secular charitie$ Activities undertaken directly Charitable giving Youth project Activities undertaken directly Expenses Ministry Activities undertaken directly Parish share Weddings and funerals 7,436 21,874 1,794 2,397 42.228 7,483 78,455 6,045 49,711 84.500 Church running expenses Activities undertaken directly Rates and water Light and heat Repairs & maintenance Insurance Broadband 219 17.266 213 13.963 1.020 5.205 4.766 578 22,829 20,401 Church maintenance Activities undertaken directly Repairs and maintenance Upkeep of services Activities undertaken directly Other expenditure for the work of the church Church hall Activities undertaken directly Rates and water Light and heat Repairs and maintenance Insurance Other establishment costs 7,295 9,200 2,653 2,900 1,160 3,044 5,853 392 267 318 4,053 5.827 459 1,380 10,716 12,037 28
THE PAROCHIAL CHURCH COUNCIL OF ST MICHAEL AND ALL ANGELS, HIGHWORTH WITH SEVENHAMPTON AND INGLESHAM Notes to the Detailed Statement of Financial Activities {eontlnuedJ Year ended 31 December 2024 2024 2023 Vicars expenses Activities undertaken directly Clergy expenses Church room Activities undertaken directly Rates and water Light and heat Repairs and maintenance Insurance 4.637 605 160 3.426 5.613 1,528 102 3,159 5.794 1,447 10,727 10,502 other clergy expenses Activities undertaken directly Other clergy expenses Parish office Support costs Wages and salaries Telephone Other office expenses other expenditure 177 18,420 1,586 1.102 1,338 15,535 1,688 818 631 22,446 18,672 Moveable furnishing and equipment Grant funding activities Depreciation Governance costs Independent Examiner's fees Governance costs - other finance costs 831 831 4,200 377 4.260 279 4,577 4,539 Expenditure on charftable activities 145,652 188,635 29