Charity numbor. 1132703 THE PARISH OF LUDLOW SAINT LAURENCE UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 WR Partners Protecting your future.
. ThE,PARISH OF'LUDLOWSAiPniAURENCE Page Reference and admlnlstrative detalls of the Charity, its Tru5teos and advlsern Trustees, rewt Independent èxamlnorfs repcyt Statementof financlal actlvltles 2-10 13 Balance sheet 14 Notes to the financlal 8tatem¢nts 15-29
". THE PARISH.OF LUDLOWSAiTrifiAURENCE REFERENCE AND ADIAINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025 Tntstegs Revd Kefvin Price (resigned 20 April 20251 Dr Ewart Carson Mrcaroline Culley Mr Michael Davies Mrs Jean Ferguson-Davie Mr Richard Franks Mrs Elrzabeth GaTdner Mr Eric Griffiths Mrs Lesley Hading Mr lan Marshall (apFointed 11 May 2025) Mr Stuart mcLan Mr Martin Salmon lappoinled 1 October2025) Mr Mark Tumer (appointed 11 March 2025) Mrs Hilary Watters Mr Richard Wlkwls Charlty reglstered numbor 1132703 PrI11paI office No.2 College Street Ludlow Shropshire SY8 IAN Ac¢ountants R Parlners Belmont House Shrewsbury Business Park Shr&vsbury Shropshi SY2 6LG Page 1
THE PARISH OF LUDLOW SAINT LAURENCE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustses present their annual report b3ether with the finanaal statements of the Chartty for the year 1 January 202510 31 December 2025. Obiectlves and acllvltles . PolKles and objectlves St Laurence church is the parish churth of Ludk)w. The ststegic missKin goals of St Lauren are.. Goal 1 Enabling the people of God to discover and exercise th&ir ministy by nurturin9 their spiritual and pastoral gifts, encouraging growth in faith among all. Goal 2 Cdebrating the richness and diversty of (yjr warship and by @rUraging and developing our choral and Iturgical traditson. Goal 3 Slandiw wth St Laurence and working with other faith communities by engaging wfth the local conmunity and the widerwodd to address iswjes of social conrn. Goal 4 Creating a sustainable building with a low net Car fo)tprint and an infrastswcture for the ministy of the Church, offering a warm welcotrE to all who come. of all faiths and of none. In Seen9 lo ach*ve these goals we encourage all within the txsmmunity, regardsS of age, gender, ethnicity, disability Ix sexual orientation. to play their full paT( thereby celebratin9 the diverse gfis of all the members of the body ol ChrisL The PCC k)wledge$ with gratrtude the grants and other donatsons made by the following organisations to Sl LaurenGe's during the year: The c(Servation Trust fgr St Lauren Ludlow Jane HwJginson Charity The PCC acknowledges with great thanks the donanS of the many people have financially sUPPOrted St Laurence's and the wider SCO of St Laurence's misston work in the communrty. As ever none of vthat we do would be possible wilhout those individuals who have contributed their time artrd skills to St Laurence's in so many and different vys. Page 2
',F. . THE PARISH OF LUDLOW SAIKf LAURENCE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 ObJ8ctlve$ and a¢tivities (continued) PCC ObJeetlv¢$ for 2025 For 2(Y25 and beyond. the PCC'S main obieclives for St Laurence's Church. as defined in the Church Development Plan, are as folb)ws: al E5t3bli5hing and training a lay ministry team to take responsibilty for follow up visits in relation to occasion offaS Ibaplisms, funerals and weddings).. visfts to the sid( and the vulnerable (including those in hospitals and care homes), the searching and the iscAated.' and supwrling those who provide chaplaincy services to visitors. b} Enhancing the experience of both staff and volunteers as memters of the St Laurence's community through improved support, engagernent and CommunallOn, as well as opportunitFes for Dn-going training and professK)nal development cl 8uilding on our growing reputation for excdlence in publK Wship, to be enhanced by the continued re- ordering of the building as part of the continuing works to maintsin the Eco Church silver award and prepare for progressing to the Gold Award in future years. dl Worknng towards the goals identtfied in the Fit lor PurpJse prcgT8mme in¢fudirKJ its net zero target by identifying alternative practical vrays to heat and Irghl the building more effe¢tively to bolster our green credentials, whilst ensuring the histr)ric fabit is conserved and secured for fijbjre generats'ons by completing the baC0g of outstanding repairs, conseNation and an on%oing commttment to scheduled maintenance. el Working wtth Shropshire Wldlife Trust Friends of Mortimer Forest and others to link our own °God's A¢re' with local green initiatives in the town and at St Leonard's churchyard. f) Developing Stephen House fvrther as the key contact point which enables St Laurence's to participate actively with its partners in Churches Together Around Ludlow ICTAL) in ad$s[ng the needs id8ntified by the Ludlow under Pr8ssure reporL gl Working with partners and Fotenlial partners (IrlUdIng Ludlow Town Council, Ludlow Assembly Rooms, Ludlow Museum, the Ludlow Art Socaety. the LLMllow Piano Festival and the annual Fringe Festival, Hands Together Ludlow, schools and colleges, Chartjer of Trade and commer> to hetp create jobs and opportunrties for volunteering in Ihe tourismlheritage sector. h) Facilitating increased engagement, teaching and celebratK)n of the Christian faith, in lerms of the re-ordering of th& lIdIng through improvements to the lrturgical ordering and in our wtder life by continuing lo ¢Jevelop opportunities for adult explordtion of fraith, including the provision of a range of quiet days, retreats and accompanied prayer. i} Providing facilities that Greate additional support for both MuCal education ané the enjoyment of music, and resou$ that will enable lay people lo be train to r8ach out to young and okl lin tc#Jdler groups, schools. re hornes and other settings). jl St Laurence's is the largest (x)vered communty Tneeting space in Ludk, and is in the very heart of the town. The opportunities this offers generdte increased incorrE to support financial sustainability. Through internal and externa events, including arts and music. The Space is available to a wide range of people and organisalions in Ludlow and beyorKI, whether as performers or audien. kl Enhancing Ihe experience of encountering the heritage of St Laurence's Church for our community and visitS lacross the spectrum from West Midland s¢hookhildren to intemational visrtors} by introducing interpretaticm that meets their needs, developing an appropriate volunteering programme and broadening the marketing and publicity ofthis eXPt)nd listed bU11ng. Page 3
THE PARISH.OF LUDLOW SAiiif LAURENCE TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2025 ObJ"ectlve$ and activitigs {conllnued) l) Enhanong the wide and diverse range of educab.onal OPFrtNiunities for students of all ages, worng in P8rtnership wlh all the local educatlDnal organi5attons, in particular providing opportunities to ensure that all who visit are able lo applate the church building as a sacred space wrth a unique character. PCC INorking Policigs In setting objectnies and planning for actiwties. the Trustses have given due consijeration to the general guidance published by the Charty Commission lab"ng to publ benefit The Tnjstees have assessed the major risks to which the charity is exposed, In partIlar those related to the operations and finan$ of the tharity. The Trustees are satIsfd that systems and procedures are in place lo mwage our expo$ure to the major risks. Aftsr nBking appropriate enquiries, the trustees have a reasonable expeciation th* the charity has adequate resour$ lo conts'nue in operational existence for the foreseeable future. For this reason, they continue to adopt the'going concern, basis in preparing the financial StateEnts. There is no change to the Reserves policy. We are activety tying trj iMJikJ up reserves Fn line with th8 Charity Commission's guidelines year on year. Achievernents and performan¢e a. Surnmary The Rector. The Revd Prebendary KelIn Price, announ in November 2024 that he would be kaving Ludlow at Eastsr 2025. An interregnum in the Benefice st8rted from April 2025 and remains at the end of Ihe year. There is a firrn comrnitment from the PCC to maintain what is done currenty - in terms of services, music, events and visitor CesS through 2025. There are 164 people on the Church Electoral Roll for St Lauren's. The average Sunday aitendan¢e is 124 adults. The adult number indudes visitors to services. The church is open 364 days a year as an indusNe safe & degnated LudlrAV °wam space.. We thank our volunteer stewarding team who enable us to welcome 98,800 pilgrits and Visito lup 9%) ir¢ 2025. Financially the church had a good year meeting tts many and vailed commttments on time and in full. Restricted lunds now stand at £233.043 12024.. £113.999) St Laurence's Church recorded an increase in total funds of £73.68012024: def1t of - £156.178) with a profft in the restrKted Funds. up by £119,044 compared io 2024. Visitor income and a successfvl applKation for grants has enabled the PCC to maintain its £25,000 pledge to church maintena. signifi.cant works included addressing the QI wall defrassing. replament of damaged stone and parapet works all around the external church walls. spent £29,892 in total on maintenance and repairs lo the labric. Congregational giving to Christs'an Aid. the Traifv&Priest Fund and intsmalional emergency collects'ons in the church raised £2,226. Page 4
THE PARISH OF LUDLOWSAINT LAURENCE TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 310ECEMBER 2025 A¢hle¥ernents and performance {conllnuod) The Rectorfs Discretionary Fund reseNe for use in 2026 and beyond stands at£ 4,552. Stephen House Summary Stephen House has completed its first full year of activlties. It is fvlty fvnded to cover 2026-2029 at no cost to the PCC. Our Mission WDrk has never been better resourced and fijnded for a time of pressure on so many in the Ludlow comrnunity. All the income and costs related to Stephen House are being manajed separatety to the church bank accounts. The Stephen House funds totsled £155,240 al 31st December 2025. b. ReVW of the Year- Achlevements and pèrformance 1. Mission & Worship The Reverend Prebendary Kefvin Pri compted temi as Rector and Priest4n-charge (of the Benefice of Ludlow St Lauren 2nd St John}. We are very grateful for the active help of our actwe retired clergy and vistting clergy frorn the Diocese who have ensured we have completed all the planned services in the interregnum. We thank them all for thLyr continued support in reaching those in the community in gatest need during the year. The relationship with CTAL and other local charitres and reg)nal suprtserve9 1$ very strong, The church opened every day to offer Itse as an it)cluswe Spa for all. The full range of weekly services look Pla through 2025. Private prayer acSS to all was available seven days a week. Live streaming of our key weekly ELKharist service enabled us *0 r&h into the community with over 1000 viewings for a rdnge of broadcasts. The average Sunday attendance is 124 adults. The adult number includes visitors lo services. We have held three services each Sunday. comprising a BCP Holy Communion Serv and a Eucharist every week with a monthly Choral Matins, Choral Evensong and a Celtic Prayer Se1. These gUlartY attract 1540 people. Forlhe major festh'vals (Easter, Christmas. Advent). Sla1 ServIS (Cl seNices. Remembrance and schwls services) the numbers of those in the church call swell to betsen 3CO and 650 depending on the service. Page S
,THE PARISH OF LUDLOW PgAINT LAURENCE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Achievements and performance{contlnu8d) Ipcc During 2025 the PCC held eight regular meetings and tsvo special meetings. The average attendance was 10.7 (average percentage attendance 86.6%). Matters considered by the PCC induded strategy, ffinan and personnel together day-to-day chutrh administrats'on. The PCC members were kept informed of events, proposals and matters discu5s&# by the various commtttees through their reports. 3. Stratègy arnl Wtsi¢ In October 2008, a public r(eting was he to laLJnch the Vision for the Parish of Ludlow St Laurence. This pmjecl was expected to last 30 years. This includes ¢ombining tts role as a Pla of worship with other uses apwopriate to a church of its stte and type. This has allowed the PCC lo reconsNler the layout of the church and identify a range of major Works needed in the church to Position it as the inclusive heart of the Community. This remains the long-term goal for the church. Since 2011 this work has included several phases of intemal reordering, replacing the lighting, removing the pews and lowering the floor of the main Nave area. This has aL80 improved access for all. The impressive new space created has led tr) further works in relocating the shop. extending the intemal healing and adding an enhanced sound system. The Icon coffee shop opened in the NW Comer in September 2022 after a peri(Kl of reordering in that area. Further works on signifant repai to the PaNi$ Tower, the church roof to prevent water ingress and a range of works on extemal walls of the church lo address many of the fabric rtems listed on the 2021 quinquennial report. These have taken 8¢e wrth sunificant financial support from the Conservation Trust for St Laurence Ludlow. To address Stage 4 lof 5) of the Vision an NLHF projecl appli¢tron WTII require new condition reports for the Identified heritage under threat. New in 2025 was a review for the nional church initiative lo ensure St Laurents's is and will be"Fit for Purpose. in ftrture year5. This will also require fijrther work by extemal experts to idenlfy a suitable and cost effective plan whh Ixjuld be one par of NLHF applK*ion. 4 Fabrlc There has been 1 insurance claim forvandalism ofthe Lady cha windows in 2025. Supported by general reserve funds and restricted grants for major works we spent £29,892 in total on Maintenan and repairs to the fabnc. The main visual elements in the comprehensive church maintenance Schedu have been the external wall repairs around the church. We a most graleftjl for the support of the ConseNation Trust fi)r St Laurence for their financial support towards key wo. This work is scheduled for Comtion in 2026 when an architect will Ihen complete a new Quinquennlal Inspection. It is a pleasure to note more has been done in the past 4 years than in the prevh)us 2 decades in dUcIng the QI list. Some £750k of the total £1.2m identffjd in the 2021 QI report are for major items in a future NLHF bid. CTSLL la separ8te charity) has as its oty'ecl the PTOViSton of supp)rt for the maintenance of the fabric of the churtth. The PCC is extremely gratefijl for the continued support of the Trust, and for its cordial worknng relattonship with the PCC. 5 Iftsito There were over 98,800 visitors and pilgri in 2025. This is our highesl number ané is up 9% compared with our best year prior to the Covid pandemic. St Lauren'S has remained one of the top ten fe to visif atttionS u) the West MKllands as listsd by Visrt England. Page 6
THE PARISH OF LUDLOW SAIKf LAURENCE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEPIBER 2025 Achlevempnts and performance {contlnued st Laurence's needs a large stard workforce of 50 people to wome visitors in such numbers. We are very grateful to th& skilled volunteers who help us stay open every day. These are supported by a further 62 individuals. rnany of them fulfilling multiple roles at St LaUren'S to ¢onduct the services and enable the sile lo be'open and safe visitors. External income is critical to the opening of the church 364 days a year as an indusive safe and degnated Ludlow'knarm space". The Shop and Icon ttffee shop are both run by an exlemal company as "not fr)r profft. ventures to support the church finances. Financial revlew a. Going concern After rroFvng appropriate enquiries, the Trustees have a reasonable expectatKJn that the Charty has adequat resourTrs to CDntinue in operalK)nal existence for the foreseeable future. For this reason. they continue lo adopt Ihe going concern basis in prepariny the financial s1ateffnts. b. Reserves policy There is no change to the Policy. are activety tying to build up reseryes in line with the Charity CnmissIon,S guidelines and these are part of the Vision project objectives. c. Fknanctal results Free reserves were £32.961 (2024: £37.7251, calculated as the unrestricted fvnds, 5S the designated ftjnds and Ihe tangible fixed assets. The Charity CommissK)n's target (three nv)nths' worth of expenditure) is £80,000. The Trustees are awa that the free reserves are below the target figure. and are working to improve this posrtion. Restricted funds al year end stand at £183.664 {2024'. £113,999). St Laurence's Church recorded an increase in tota funds of £73,680 at 31st December 2025 {2024: _ £158,485) wrfh an increase in the Unrestricted Funds of £4,015 cornpared lo 2024. Donations frorn visitors totaled £37,70012024: £38.6061. 4.043 visitors paid £21,408 to 'conquer the lower,. the shop contrtsuted a furthef £16,731 12024.. £17.820) and the Icon coffee shop sold over 41,000 drinks and added £ 32,974 (2024,. £27.3161 lo church funds. Visitor income and a successful applrab.on for grants has enabw the PCC lo intain its £25,000 pledge to church rna1ntenan. We spent £30,501 in total while engaging with and providing direct help to the local communty. Suworted by gener81 reserve fijnds and restrictsd grants £60.102 was spent on the extemal QI works in defrassing and repair work on the churrth walls. In eaty 2026 new mesh grills will fitted on the Lady Chapgl and the North transept, afterthe varmlalized glass has repaired. Page 7
THE PARISH OF LUDLOW SAINT LAURENCE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Stephen House Stsphen House opened fulty in November 2024 as a day refvge supporbng those in greatest n8ed in and around Ludlow by providing practical assistance and advice. Our pastoral worker has been working with the most vulnerable in the community and has helped tn.age their imdIate nd$ with other charities in Ludlow. The current SH funds stijod at £ 155,240 at the year end and we have o)mmitments to rtceive new sums in the next 18 months from private donors. Stephen House has at the end of 2025 four more years of fijnding to lead our Mtssion work. All th8 income and costs related to the Stephen House proi&t aro being managed separately to the church bank accounts. The Fwject and its ongoing development wrll have no financial impxt on the church I PCC commithenls. d. PCC Flnan¢ial management The Stsnding Comnvitee m*ts to deal with any uffJent matters necessary for the smooth running of the church and the parish. The PCC reviews Ihe budget perfomiance from the Managennt accounts and a cash fiow forecast at each ol its meetings. decides on any changes to financial FM)licy and approves Ixjth the annual budget and the rep)rt for these accounts. Structure, governan¢¢ and managem&nt . Constitution Sl Laurence's Church 1$ the Parish Church of Ludlow, situated in the heart of the town. It lies within the diocese of Hereford, wtthin the Church of England. The Corresponden address of St Laurence's is 2 College Street. Ludk)w, Shropshire, SY8 1AN. The Parish of Ludlow Saint LauM¢e is a charity registered with the Charity Commission, No. 1132703. PCC Members are the Trustees of the PCC charity. The charty is governed by the Parochial Church Councils (Powers) Measure 1956 as amended. arKI the Church Representation Rules. b. Metlvxls ofappolntment or el•¢Uon of Tn The method of appointment of the PCC is set Olrt in the Church Rewesentation Rules. All chUh attendees a encouraged to register on the Eor81 Roll and stand for eiOn to the PCC. The PCC has the resFX)nsibility to consutt wtth the incumbent on matter5 of general concern and importance in the parish, most specificalty the whole rn10n of the Church, pasloral, evangelist. social and e¢umenical. The Trustees IPCC Merers) have had due regard to the guKlan¢e published by the Charty Commission on public benefit when exercising any powers or duts.es to which the guidance is rebvant, and have tEkX)rted on this below as required by the Charities {Accounts and Reports) RegulatKin$ 2CK)8 c. Financial risk markigement The Trustees have assessed the major rkS to whh the Charity is expos&4, in partic#Jlar those related to the operations and finan$ of the Charity, and are satiSfd that systems and procedures are in placE to mitigate exposure to the major risks. Page 8
THE PARISH OF LUDLOWSAINT LAURENCE. TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2025 structure. governance and management l¢ontinued) d. Plans for future perlods The appointment of 8 new Re¢tor is the first priority. An Associate Minister I Schod Chaplain role has been develokEd, provision811y age(l with the Diocese and an appoinbmenl is waiting on the new Rector being in place. The interregnum me8ns that in 2026 any new works Treeding a faculty may have to be put into abeyance. HeVer the planned Maintenan and QI WOTks wll continue and initiatives can be taken lo look at compiling rep)rts and identying the costs of larger programme5 vthich might start in 2027 and 2028. As a Grade 1 listed Major Church with its extensNe service provision St Laurence's incurs many additional costs, not shared by the °ordinary parish chu, and wrthout the benefit of the fixed addilional income and no investment income lo meet those Sts. As it stands there is a k)w level of unrestricted financial serveS 1£32,961). The lack of local major benefactors to the church and no vJentified legacy commitments continue lo be a concern for the PCC. Meanwhile it looks to underpin fttnding for fvrlher ai works in 202612027 (£350kl. The Fit for Purpose requirements need to be confim*d. A technical wort and xtion plan will have to be funded 1£4kl in 2026. Works will possib begin in 2027120281£650kl. In additsn to this we to protect our unique sta'ned glass and internatKsnally renowned nEdieval heritage whh continls to be under threat. We will potentially cover the Fit for Purpose costs with an NLHF bid {£2.4 milli)nl in 2027. Again lo submit an NLHF applicab.on a professional report will be needed (cost £30k) as well as evidenc£ of finding as much as 40 pernt of any grant being sought. The driver for Change in the next 4 years for the thurch wll be led by the "Fit for Purpose. net zero target. Potential Govemment Changes to the Listed Places of Worship scherrE in 202&26 may have a significant impact on all our an$. In an ever more competib.ve fvnding market an additional 20% of support hjnding to any external grant application will be a &gnificant challenge going forward. Summary St Laurenc8's and Stsphen House aEe managed a5 separdte entItS for their OFErations. Stephen House currently place5 no burden finarrialty on the PCC. Stephen House is fulty funded to 2029. Swift action and c2reful husbandry of resources have enab St Laurence's to manage the tTHny issues and challenges thrown up in 2025. We have proved to be highty resilient and taken the opportunity of greater visilor nurnber5 to increase external income streams whilst frnaging expenditure carefully. Cash flow in 2026 will cont.nue to be closely monitored with increased energy costs feeding through in the coming year, though this has been offset by negotiating irnproved electricity and gas contracts. Financial controls will continue to be kept tight. We continue to actively seek new ways to access extemal grants and fvndirtg from other charities and organisations to complete the research required to help fvture prcof and ensure the church becomes even more 'fit for purp)se'. The key budget oty'ective for the church will remain self-sustainability in 2025 and 2026, using the succe5sftIl busriess model and zero budget practi of rn1 ts"mes. and to build on that success as a springboard to enable the major change programmes required from 2027. Page 9
THE PARISH OF LUDLOW SAIKf LAURENCE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER2025 staternent of Tru5te8s' responsibilities The Trustees are responsible ft)r preparing the Trustees, port and the financial statements in aCcordae with applicable law and United Kingdom Accounting Standards (United Kingdom Generalty Accepted A¢¢ounting PrtI). The law applicable lo charities in Englar & Wales requi$ the Trustoes to prepare financial statements for each financial year which give a true and fair vw of the state of affairs of the Charity arKJ of ils incoming resources and application of resources, including its in¢otrE and expenditure, for that period. In preparing these financial statements. the Trustees are required to- select suitable a¢Unting policies and then appty them $t8'. observe the methojs and principles of the Chariti8s SORP (FRS 102)" make judgments and accounbng estimates that are reasortrable and prudent,. stats whether applicable UK Accounting Standards IFRS 102) have been followed, Subject to any material departures disclosed and explained in the financial siatements,. prepare the financial statements on the going COEKem basis unless it is inappropriale to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy * any time the financial position of the Charity and enabk them to ensure that the financial Statetnts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Paro¢hial Church Council Powers Measure {1956} as amended, and Church RePSetIon Rules as atrEnded by Scheme dated 25 July 2016. They are also responsibie for safeguarding the et5 of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulariti&s. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mrs Lesley Harflny (Trustee) Date: 21: <rf. 2b iilr Ricrd Frdnks rusteel Page 10
THE PARISH OF LUDLOW SAIPU LAURENCE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER2025 Independent examingrfs rgport to the Trustees of The Parfsh of Ludlow Salnt Laur¢& {Iho Charlty. I report to the chaiity Trustees on my examinakn of the OUnts of the Charity for the year ended 31 Decen)er2025. Responsibilities and basis of report As the Trusteès of the Charity you are rest)nsible for the preparation of the accounts in accordan with the re¢wirements of the Charrfcies Act 20111.the 2011 Acr). I 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 examinatn I have folk)wed the applicable DIrecn8 gNen by the Charity Commission under section 145{5llbl of the 2011 Act. Page 11
.THE PARISH OF LUDLOW SAIKfLAURENCE INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Independgnt gxamlnets statement sin the Charity's gro&% income exceeded £250.000 yr examner must bg a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the ex8nunation because l am a member of ICAEW, which is one of the listed bodies. Your attention is drawn to the fact that the Chaiity has prepared the accounts in accordance with Attounling and Reporting by Charities.. Statement of Recommended Practice applicable to chartties preparing their accounts in accordan wlch the Finanal Rewrting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charities". Statement of Recommended PraGlice issued on 1 April 2005 which is referr&J to in the extant regulatKJns but has been wthdrawn. l understand that this has been done in order for the accounts to provide a tfue and fair view in accordance wlth the Generally ACpted Accounb'ng Practice effective for reporting [jod$ beginning on or after 1 January 2015. I have completed my examtnatron. I confirn that no matters have come to my attention in ¢onnection with the examination gwing me c2use to believe that in any material respect accounb'ng records were not kept in respect of the Charity as required by ser*on 130 ofthe 2011 Act., or the accounts do notaccord with those records" c the accounts do not comply wth the applicable reqU1ments conceming the form and content of acc(xJnts set in the Charilies (Accounts and Reports) Regulatn5 2008 other than any requirement that the accounts gwe a YNe and fail view whh not a matter considered as part of an independent exarninatK)n. I hav& no concems and have Come across no other mtters in connection with the examination to which attention shoukl be drawn in this report in order to enable a proper ujxlerstanding of the accx)unts to be reached. This report is made sokty to the Charity's Trustees, as a t, in accordance with Part 4 of the Charities {Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to th@ Charity's Trustees those matters l am required to state to them in an Independent examinets report and for no other puiw)se. TD the fullest extent pennitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this pOrL Signed. T Lunt BA FCCA MIRPM WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury SY26LG Page 12
THE'PARISH OF LUDLOW SAIKf LAURENCE STATEME1 OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2025 Total funds 2025 Total funds 2024 funds 2025 funds 2025 Income from: Donations, legacies and grants Ch4r(tJle activities Other trading actwib'es Investrrenis Other income 15957 621 106,769 17,227 131017 8,592 1,1SI 266,326 17,848 134,463 8,592 1A85 168,879 13. 7T7 123,219 3.913 38,119 Total income 163.152 265.562 428,714 347,9Q7 Expandlture on: Raising funds Charitsle actNilies 6.080 89,T18 13,671 245.505 19.751 335.283 16.590 489.802 Total expgndlture 95,858 259,176 355,034 506,392 Nel incornfrl(¢xp¢ndituro Transfers bebveen fvnds 67294 2.371 6.386 12,3711 73,680 (158,485) 18 Netmovement in lunds 69,665 4,015 73,680 (158,485) Roconclllatlon of funds: Totsl funds brought fotW8rd Net movement in lunds 113 153 267081 73,680 426,366 (158,485) 69,665 4,015 Totsl funds carried forward 183,664 1F7,897 341,561 267,881 The StennIof firiancial activities includes all gains and losses recognised in the year. The notes on pages 15 to 29 form part of these finanaal statents. Page 13
THE.PARISH OF.LUDLOW SAINT LAURENCE BALANCE SHEEr ASAT 31 DECEMBER2025 2025 2024 Fixed assets Tangle asset5 14 111,918 116,157 116,157 Current assets ks Debtors Cash at bank and in hand 15 16 129 14206 130 30.059 143,969 174,158 Cuffent liabilities Creditots.. amounts falling duewithin one year 17 (147511 (22,434) Nelcurrent assets 151,724 Total assots loss current liabiliti85 34161 267,881 Total net assets 34161 267,881 Charltyfund8 Restricted funds UnrestricteAI funds 18 18 183,664 157,897 113,999 153,882 Totsl funds 3411 267,881 Thefinancial statements were approved a1 authorised for issue by the Twstees and signed on their behalf by: Mrs Lesley Harllng (Trusteel Mr Richard Franks (Trustee) The notes on pages 15 to 29 form part ofthese finala1 statements. Page 14
THE PAR18H OF LUDLOW SAiiif LAURENCE NOTES TO THE FINANCIAL STATEME5 FOR THE YEAR ENDED 31 DECEMBER 2025 General Infomiation St Lauren church is the parish Ghurch of Ludbw. Cornmission {England & Wales), chartty number 1132703. It registered as a charty with the Charity The strategrc mission goals of St Laurence are: Enabling the people of God to discoverand exer(ise thr ministy by nurturin9 their spiritual and pastoral gifts, encouraging gmwth in fatth anK)ng all. Celebrating the richness and diversty of our worship and tt$1¢ by encouraging and developing our choral and Itturgical tradition. Standing with Sl Laurence and working with other faith communities by engaging with the k¢al community and the ¥Mder wortd to address iSSLW6 of social ¢oncem. Creating a sustainable building and infrastructure for Ihe ministry of the Church, offering a wami Ekome lo all who wme, of all faiths and of none. In seeking to achVe these goals we encourage all vrithin the community. regardle$$ of age, gender, elhnioity, disability or sexual orientation. to play their frjll parL thereby celebrating the diverse gits of all the members of the body of Christ. Accounting policies 2.1 8asls of preparatlon of flnancial ststements The financial statements h8ve been prepared in accordance with the Charrties SORP IFRS 102) - A(zounting and Reporting by Chartties.. staterrnt of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 20191. the Financial Reporting Standard appltcable in the UK and Republ of Ireland {FRS 1021 and the Charities Act 2011. The financial statements have been prepared to gtve a 'true arKI fairf vtw and have departed from the Charities (Accounts and Reports) ReguL8trJns 2008 onty lo the extent required lo provide a 'lrue and fail view. This departure has invofved following the ChaiTties SORP IFRS 102) publisheé In October 2019 rather than the Accounts'ng ar Reporting by Charities.. Statement of Recommended Practice effectwe from 1 April 2005 which has Sin been wilhdrawn. The Parish ol Ludlow Saint Laurence meets the definition of a public benefit entity under FRS 1 D2. Assets and liabilrties are Initialty recognised at historical cost or transaction value unless otherwise staled in the relevant accounting pdicy. Page 15
THE PARISH OF LUDLOW SAINT LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting polkles l¢onllnued) 2.2 Incomo All income is re¢ognised once the Charity has entitlefftnt to the income, tt is probable that the income will be received and the amount of recetvable Can trEasud reliabty. The reccNJnition of income from legaCS i% dependent on establishing efttemenl the probability of receipt and the ability lo estimate with sUfficnt accuracy the amount receivable. EVenCe of entitlement to a kgacy exists when the Charity has suffiCnt evidence that a gtft has been left to them Ilhrough knowledge of the existence of a valid will and the death of the benefactor} and the executor is satisfied that the property in question will not be required ID satisfy claims in the estate. Receipt of a legacy must be Cognised when Tt ts Probab that rt will be received and the fair value of the amount receivable. which will generally be the expected osh amunl to be distributed to the Charity, can be reliably measured. Grants are included in the Statement of finanaal activities on a retsivable basis. The balance of income red for speaffic purposes bul not expended duriro the period is shown in the relevant funds on the Balance sheet. Inthe InnE is received in advan of entitlement of receipt. ils recognition is deferred and included in ¢reditors as defeffed income. Where ents'tlemenl occurs before incorne is received, the inc4)me is accnjed. Income tax recoverabk8 in relation to investsment incon* i8 rwnised at the time the Investment income is receivable. Other income is recognised in the per#)d in whh it is eable and to the exienl the goods have been provided or on completion of the servKe. 2.3 Expendire Expenditure is cognIS On there is a legal or constructwe Olgat)n to transfer economic benefft lo a third paty, it is probable that a transfer of economic beneffts will be required in settlement and the amount of the obligats'on Can be meaSUd reliably. Expenditu is dassified by activity. The costs of each &tivity a made up of the total of direct costs and shared costs, including support costs involved in undertaking each 8¢tivity. Direci Costs attributable to a single activity are allocated directly lo that activity. Shared costs which ¢oniribute to than one activty and support costs which are not attributable to a single activty are 8PPOrtioned between those activities on a basis consistent with the use of resources. Central staff costs are alICed on the basis of time spent. ané depreciab'on CheS alljcated on the portion of the asseys use. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its ch8ritsble purposes and includes costs of 811 fundraising acttvibes events and non-charitsble trading. Expendf(ure on charitable acbvities is iVrred on diredy undertaknng the activities which Ajrther the Charity's objectives. as well as any assctiated support costs. All expenéiture is inclusive of irrecoverable VAT. Page 16
THE PARISH OF LUDLOW SAIMf LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng policies Ic(xrtinued 2.4 Tanglble flxfjd assets and depre¢latlon Tangible fixed assets are CaalISed and recognised when futu economic benefits are probable and the cost or value of the asset Can be measured reliabty. Tangible fixed assets are initialty rectsJnised at cost. After recognition, under the cost rde1, tangible fixed ass8ls are measured at cost less awumulaied depreckgtion and any accumulated impaimient losses. Al costs incurred to bring a tangible fixed asset into ils intended working Gondltion should be included in the measurement of cost. DepreciatK)n charged so as to albcate the ¢osl of tangible fixed assets less their residual value over their estimated usefvl Irrfes, using the straight4ine methrAI. Depreciation is provKJed on the folk)wing b8Si Long-lerm leasehold propety Fixtures and fittings Computer equipment Musical InstrunEnts 1% str8tyJht line 25% straight 'ne 25% strarght line 1% strabjht line trom 2018 2.5 Sto¢k8 st¢xks are valued at the bwer of cost and net realisable value after making due allowance for obsolete and slow-moving stod(s. Cost in¢ludes all direct costs and an appropriate proportion of fixed and variable overheads. 2.6 Debtors Trade and other debtors are reccgnised at Ihe selllerrent amunt after any trade discount offeral. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and In hand Cash at bank and in hand indudes cash and short4enn highly liquid investments vith a short maturity of three months or less from the dale of acqUisitn or opening of the deposit or similar account. 23 Liabilities and wovisions LiabilitEs are recognised when there is an obligation at the Balan sheet date as a result of a past event. it is probable that a tryansfer of e0)nOrn benefft will be required in settlement, and the arUnt of the *tUement Can be estimated relrabty. Liabilities are wognised at the amounl that the Chanty anticipates it will pay to setue the debt or the amount it has reiVed as advanced payments for the gocKls or services it must provide. Provisions are measured at the besl estimate of the amunts required to settle the obligation. Wnere the effect of the lime value of money is material. the provision is based on the present value of those arnounts, discounted at the pre-tax discount rate that reflects the risks s[fiC lo the liability. The unwinding of the discount is regnised in the Statement of financial activities as a finance cost. Page 17
'.THE PAFiISH.OF LUDLOWSAINT LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollcles (contin 2.9 Financial instruments The ChaTty only has finanaal assets and financial lbIl8 of a kind that qualify as basic financial instruments. Bas financial instruments are inibally recognised al transaci'on value and subsequently measured at their settlement value wrth the exception of bank knans which are subsequently measured at amorbsed cost Ung the effeciive interest methcKI. 110 Pension8 The Chartty operates a defined conlribulion pensK)n scheme and the pensron charge tEFwesents the amunls payable by the Charty to the fund in $[¢¢1 of the year. 2.11 Fund accounting General funds are unrestricted fijnds which are available for use at the discretion of the Trustees in rtherance of the general objectives of the Charity and which have not been designated for other purposes. nesignatsd funds comprise unrestTthd fvnds Ihat have been set aside by the Trustees for particular purposes. The aim and use of each designated fvnd is set out in the notes to the finan¢ial staternents. Restrtcted funds are funds which are to bg used in accordance with specific restrictions imposed by dollors or whh have been raised by the Charty for particular purposes. The costs of raising and administering suth funds are charged against the specific fijnd. The aim and use of each restiicted fund is set oul in the notes to the financial statents. Investsnent income, gains and losses are allocated to the appropriale fvnd. Income from donations and legacies Total fundg 2025 Totsl funds 2024 funds 2025 funds 2025 t)Dnations Leg8cies Grants 46,325 53,128 60.104 11%,769 153,094 53,128 60,104 152.050 15.829 159,557 106,769 266,328 168,879 Tota12024 43,979 124,900 168.879 Page 18
'THE PARISH OF LUDLOWSAINT LALIRENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Incomefrom charitsblo actlvltles Restricted Unrestrlcted funds lunds 2025 2025 Total lunds 2025 Total funds 2024 Weddlngs, Marriage banns. funerals and rnlar Other income from church activities 9.220 8,1]07 9,220 8,628 621 9.232 621 17.227 17,848 13, 7TT Total 2024 839 12,938 13.777 lTrcomefrom other trading activitns lrncome from fundraising events Total funds 2025 Totsl funds 2024 funds 2025 funds 2025 Fundraising Shop and Cafe 82,112 49,705 84,758 49,705 77.690 45.529 131,817 134fv63 t23.219 Tot812024 2.365 t20.854 t23,219 Page 19
. ThE PARISH OP LUDLOW.SAINT LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Investment income Total funds 2025 Tol81 funds 2024 nds 2025 funds 2025 Investment in(x)me 8,592 8.592 3,913 Tota12024 413 3,9t3 Othor Incomlng rn$our¢es Restricted Unrestricted funds fund8 2025 2025 Total funds 2025 Total funds 2024 Other in¢oming resources 328 1,157 1A85 38,119 Tota12024 14.358 23.761 3&119 Expenditure on rablng funds Costs of raising voluntary income Restiicted Unrestricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Costs ofraising voluntary 6.080 13.671 19,751 16,590 Tota12024 4,070 12.520 16.590 Page 20
THE.PARISH OF LUDLOW SAIKf LAURENCE NOTES TO THE FINANCIAL sTATEMEs FOR THE YEAR ENDED 31 DECEMBER 2025 Analysis of expendlture on charltsble actlvltles Summary by fund type Regtrtcled Unrestrl¢ted funds funds 2025 2025 Totsl 2025 Total 2024 Charitable actwity Stephen House 89,778 220,148 25,357 309,926 24357 489,802 89,778 245,505 33&283 489,802 Tots12CY24 243,401 246.401 489,802 10. Analysis ofexpeThllture by a¢tMtIo9 Activities undertaken Support directly costs 2025 Total nds 2025 Total funds 2Q24 Charitable actNf(ies Stephen HIse 219.570 25.357 90,356 309.926 24357 489,802 244.927 90,356 335283 489,802 Total 2024 406,&78 489,802 P8ge21
THE PARISH'OF LUDLOW SAINT LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 11K Analysis of expendlture by actlvhies (continued) Analysls of dlrect ¢ts Charitable activity 2025 Stephgn House 2025 Total funds 2025 Totsl funds 2024 Staff costs Depreciation Church actNities Clergy and staff expenses IAission and evangelism costs Church running expenses ijtility bills Major repai Occasional musicians. organLsts and similar other expenditure maintenan and repairs 20,954 20.954 8,206 50,475 2323 6.038 41386 33.745 33,199 655 8,987 33,059 8.2C6 50,475 2,223 6,038 7,214 51,858 4.475 5.765 45.333 31,616 227.728 4,350 10,990 17,209 33,199 4.655 5,186 32,549 3,801 510 219,570 25,357 244.927 406,538 Total 2LY24 406,538 406,538 Analysls ofsupport costs Total funds 2025 Total funds 2Q24 Dlroct costs 2025 Staff costs Governance costs 81,029 9.327 81,029 9,327 80,782 2.482 1.356 90,356 83,264 Total 2024 &3,264 83,264 Page 22
THE PARISH OF LUDLOW SAIKf LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 11. Ind9pendent examlner's remuneratlon The independent examiners reMUratIOn amounts to an indeFendent examiner fee of £1,785 {2024 - £1,5001. 1Z Staff costs 2025 2024 Wages and sakries ContrFbution to defined contritrxrtK)n pensK)n Sche8 100.612 1,371 79, 723 1.059 101.983 80. 782 The average number of persons empksyed by the Charity during the yearwas as follows.. 2025 No. 2024 Empbyees No empY r&eNed MneratiOn amounting to than £60.OW in eitheryear. Page 23
.THE PARISH OF LUDLOWSAINT LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 13. Trustees. rernuneratlon and expenses During the year. no Trustees received any mUneration or other beneffts (2024-£NIL). During theyearended 31 DeMber2Q2S, no Twstee expenses have been incurred f2Q24- £NIL). 1& Tanglble red assets Long4•mi Flxtsros, leasehokl ffttings & Musl¢al property equipment Equlpment Instrumonts Total Cost or valuatton At 1 January 2025 Add.05 57,817 31.285 4455 56,100 149,657 3,967 At 31 December 225 57.817 35,252 56,100 153,624 Depre¢iation At 1 January2025 Charge for the year 2,313 578 25.646 5,953 1.614 1,114 3,927 561 33,500 8,2( At 31 December 2Q5 2,891 31,599 2,728 4488 41,706 Net l)ook valu8 At 31 December 2if25 $4,926 3,653 1,727 51,612 111,918 At 31 De¢ember2024 55. 5,639 2,841 52,173 116, t57 Page 24
THE PARISH OF LUDLOWSAIIU LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 15. Stocks 2025 "2024 Goods for resa 129 130 16. Debto 2025 2024 Due wlthln one year Trade debtors other debtors Prepayments and accrued inrne 42 475 29,542 14206 14,206 30, 059 17. Creditors: Amounts falling duewlthln one year 2025 2W24 Trad8 creditors other creditors 135 SA53 9.163 Accmals and deferred income 21,869 14,751 22,434 Page 25
st THE.PARISH OF..LUDLOWSAINfLAURFNCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 18. Stat8mgnt of lunds Statement of funds- current year Balance at 31 Transfets De¢¢mber inlout 2025 Balance at 1 January 2025 Inc1¢ Expendlture Unrestrlctsd fund8 Designated fund5 stephen House 9A25 3,593 13,018 General funds General Funds 15382 256,137 1259,176} {5,9641 14479 Totsl Unrostrkled fvnds 153,882 (259,176) 12.371) 1Fr,897 Restrlded funds Stephen HoLJse J No 2 College Street Funé HowErs Arts @ st Lauren Life & Leaming Clock Re¢torf$ Discreb'onary Nab'onal Heritage Lottery FUTr Virtual Reality FestNal Flowers 82.033 1A17 7.091 3,516 539 (25.3SO) {507} (6,6401 142,222 1,886 6,315 3.516 331 6,215 1,073 4,592 71 13,119) 1,062 1,073 4,592 71 6,221 12,633 War M8norial 5262 016 432 765 Fabric Bells Organ repair and maintsnanGe 7A75 (60,1041 (132) 113,999 163,152 {95,858} 2,371 183,664 Totsl offunds 267,881 428,714 1355,034) 341.561 Page 2
THE PARISHOF LUDLOW SAipif LAURENCE NOTES TO THE FINANCIAL sTATENTs FOR THE YEAR ENDED 31 DECEMBER 2025 18. Statement of funds {¢ontlnued) statement of funds- prioryear B81ance ai 31 Decemb 2024 Balan at l Jantsary 2024 TTrnsfer in/out Untsstri¢t¢d furKIs General Funds 130.379 282,866 (258,921) (442) 153,882 Restrlcted fvnds Stephen House l No 2 Col Street Fund Flowers Arts @ St Laurence Lrfe & Leanmng CIoL* Re¢toVs Dis¢retionary National Heritage Lottery FUTr Sl Leonard's Churth Wall Virtual Reality 80iler House 26t,671 649 6.396 3.516 .978 1.182 4,981 (230.616) (414) {4.286) 82,033 1,4t7 7,091 3.516 11.818 1,073 2,675 (8,278) 6.215 I.OT3 (2.682) 4.592 13.245) 4.592 3.135 14 iio FesiN8J FVg 71 Warmemorial Fabrr Bells Organ repair and maintenan 200 7.475 233 8, 730 210 373 259 13 {968J 27J 295,987 65,041 (247,471) 113,999 Total of funds 426,366 347,907 {6,392) 267,881 Page 27
IiIE PARISH OF LUDLOW SAINT LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Statementof funds {continued) Restricted Funds - The purpose of ReStrte¢j Funds is to separ8te out money gNen to the PCC for a swifi¢ purpose and to ensure that it is used for that purpose. Pew Sheets, Tower Mag. Parish Publutions - for the sponsorship of pew sheets arKI publi¢ations and Contributions trwards the cost of the parish magazine. Arts @ st Laurence- lo separate out the IrMe and expenditure of the annual summerArts FeslNal. FatC - The Fabric Fund is a repair fvnd and includes speufic projects such as the Vision. The purpose of Vision is explained in detail in the Trustees reporL Stephen House l No 2 College Street Fund- retates to the Fryerty atthat address in Ludlow. Organ repair & intenance- for the upkeep of the organ. Flowers- dmations towards church llowers andthe payrnentthpJeof. Life & Leaming- to separate outthe incorre and expenditu of the annual series of Lrfe & Leaming tures. Nave Aar & Reordering - lo separate out the income and expenditure towards the re-ordering of the Nave. Nave projects have been ongoing from 2017 wth the 1 rent phases completed in 2022-23. AII the changes in the church come in under our ongoirrfj Vision Projecf a 30 year innovative church project lo get St Laurence's back to its fomier glory and positTred at the heart of the community. tÈpending on when and how a project starts and is nded the timing of income and expenditure Can oss accounting periods. Redoes Dis¢tiOnary- to reach the pcorest in the local communty and provide financvdl help when most needed. NLHF - our bid for lottery heritage funding application (made Feb 2020} failed when NLHF cancelled all applicats.ons being processed as a result of Covid-19. St Leonard's Church Wall- The old churchyard for bjrials in Ludlow nLhV Virtualty full but still officrally'open, SD the resFM)nsbility of l rnaintained by St Laurence's. BOir House - Towards the creation of a pemwnent l)oikr house by the souih wall of the Churc* (project rnpleted in autumn 20231. rtual Realtty - Fund to develop the y'lot stheffE lo prove the mertts of augmented reality as the medlum lo engagè new visitors lo the heritage stle Ipilot Completed.. deCiSn on permanent scheme pending). Page 28
THE PARISH OF LUDLOWSAiTrif.LAURENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 19. Analy81s of net assets beiThwn funds Analysls of net assets between fund8- current yoar Restrlctgd Unrestrlcted funds funds 2025 2025 Totsl fund8 2025 Tangibk red assets Current assets Creditors due within one year 111.918 60,730 {14,751 } 111,918 244,394 (14,7511 183.e64 Totsl 183,664 157,897 34161 Analysis of net assets between fvnds- prlor year Reslrided UnTrSled fvnds funds 2024 2024 Total funds 2024 Tangible flxed assets Currentassets Credrtots due within one year 116.157 60.159 (22.434) 116.t5T 174. 158 (22,434) 113.999 Totsl 113,999 153,882 267.881 Pension commitménts The charity 0rateS a deffin&J contn"bution penS)n scheme. The assets of the scheme are held separalety from those of the group in an independentty administered fvnd. The pension Cost charge represents contributions payable by the Chanty to the fund and amounted to £1.371 (2024 - £1,059) From this amount £nil was payab to the fund at the bance sheet date and * included in creditors12024'. £7761. 21. Related party transadlong The Charity has not entered into any related paty transactK)n during the year, nor are there any outstanding balanS owing behveen related parties and the Charity at 31 December 2025. Page 29