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2025-12-31-accounts

The Parochial Church Council of the Ecclesiastical

Parish of St Mary's, Billingshurst,

In the Diocese of Chichester.

TRUSTEES ANNUAL REPORT FINANCIAL STATEMENTS for 2025

Contents: Annual Report 1-8 Report of the independent examiner 9 Statement of financial activities 10 Balance sheet 11 Notes to the Accounts 12-25 Address: St Mary's Church, East Street, Billingshurst, West Sussex, RH14 9PY Incumbent: The Revd. David Beal Independent James Peach Examiner: Kreston Reeves LLP Springfield House Springfield Road Horsham West Sussex, RH12 2RG Bankers: Santander UK plc Customer Service Centre Bootle, Merseyside L30 4GB

1

Our Aims and Purposes

St Mary’s Parochial Church Council (PCC) has the responsibility of co-operating with the incumbent, the Reverend David Beal, in promoting the whole mission of the Church, pastoral, evangelistic, social, and ecumenical. The PCC is also responsible for maintenance of the Church Centre Complex of St Mary’s Billingshurst.

Our Vision

We are a community of people who want to worship God and share in Jesus’ love and message of hope. The vision of St Mary’s is to be a vibrant, diverse, and prayerful community where lives are transformed, and the light of God’s truth shines bright.

We seek to achieve this by being prayerful, united and truthful.

Objectives and Activities

The PCC is committed to enabling as many people as possible to worship at St Mary’s and to become part of our parish community. The PCC maintains an overview of worship throughout the parish and makes suggestions about how our services involve the many groups that live within our growing parish. Our services and worship put faith into practice through prayer and scripture, music, and sacrament.

When planning the year’s activities, the incumbent and the PCC bear in mind the Charity Commission’s guidance on public benefit and the specific guidance on charities for the advancement of religion. We seek to enable people resident in Billingshurst to live their faith as part of our parish community through:

To facilitate this work, it is important that we maintain the fabric of our historic Church, which stands at the centre of our community as it has done for the best part of one thousand years. The Church Centre Complex plays an important part in providing facilities for parish activities and its ongoing maintenance is a priority. Volunteers play an important role here and in the upkeep of the graveyard, which is a beautiful and tranquil open space at the heart of the village and an important thoroughfare.

Achievements and Performance

Worship and Prayer

The PCC is keen to offer a range of services during the week and over the course of the year that our community finds both beneficial and spiritually fulfilling.

During the year our main worship provision on Sundays has continued to be dynamic and vibrant. Our regular Sunday services are as follows:

These services, led by our incumbent, or, prior to her temporary re-location to ministry in Camber, his associate the Reverend Yvonne Adam, assisting when visiting only on her breaks, involve members of the congregation in different ways. Music plays an important role in all services, and both congregations are enthusiastic participants.

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A small team plan the services and lead us in both music and worship: Nick Wolfenden, Jo Eames, Karen Quigley, Gary Moore and Bethany Milton. Whilst ensuring that services are varied in content and pace, they are characterised by the distinctive sound born out of lyrical singing combined with soulful oboe playing accompanied by keyboard, guitar and drums. The third service of the month increasingly involves children in the music making, deliberately singing songs they are familiar with from school and encouraging enthusiastic marching and procession round the church. The continued growth of this service has been helped by the development of the Sunday School on the second and fourth Sundays of the month, delivered by Beth Little, our Family and Children’s Worker. The services are not only attended by families with children, but also young people and adults whose preference is for an informal service, but one which includes thoughtful reflection for grownups as well as children.

The 11.00 Parish Communion is a little more formal, including a robed choir and servers, but the atmosphere is lively and the congregation is welcoming and engaged. Members of the congregation read lessons, lead highly reflective prayers of intercession, and assist with the Eucharist. For some, the sharing of the Peace once more involves the shaking of hands but continuing alongside this with the focused waving and quiet greeting which became our norm during Covid, allows for more people to connect and enhances the sense of community.

The choir continues to perform with confidence under the leadership of Susie Duffy, and the congregation continues to sing with gusto as a result. Our organist, Michael Peters, not only leads us in our hymn singing, but also inspires us with the thoughtful and very lively organ voluntaries which accompany us as the service ends.

The two congregations come together on the first Sunday of the month in a joint service at 10.00 am, emphasising that we are one parish community. Our youngest members are under five and our oldest over a hundred years old. Our youngest parishioners become familiar with hymns and sermons and our oldest come to appreciate bass guitar and drums as they sing and enjoy flag waving as children march round the church.

Over the year, attendance at these services consolidated and grew. All are welcome to attend our regular services. At present there are 147 parishioners on the Church Electoral Roll (183 in 2024), 12 of whom are not resident within the parish. We lost 4 much loved parishioners from the Roll when they sadly died (6 in 2024). This Year we scrapped the Roll and started again, when 132 reapplied to be on the Roll and 15 were new to the Roll. The average weekly attendance counted during October was 99 (103 in 2024).

Evensong is sung at 6.30 pm on the first Sunday of the month and a small but growing congregation enjoys the sense of history inspired by the language of Book of Common Prayer and the beautiful responses and anthem sung by our accomplished choir who assist parishioners in mastering the mysteries of psalmody.

During the week, the church continues to provide opportunities for reflection, prayer and worship for the community. Morning Prayer takes place at 9.00 am from Monday to Friday and provides an opportunity for parishioners to use the Church’s common worship, follow the lectionary and reflect on the full and true implications of our parish prayer, the St Mary’s Prayer:

S overeign Lord

T each us, the family of St. Mary’s to listen to your voice

M ake us ready to do your will A waken in us a love for you

R enew us with your Holy Spirit so that

Y our joy may be sees in us, as we

S hare your vision, proclaim your love, and change this world

In the name of Jesus Christ. Amen

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On Thursdays at 11.00 am we provide reflective, prayerful service for those who cannot attend on Sundays. These occasions provide an opportunity for tranquil spiritual reflection which has often proved highly valuable to those in need of solace. Prayers for the church and community are held in church every Saturday morning at 9.00 am.

Two new initiatives began in 2025 as part of the Mission Action Plan arising from the prayer vigil held in June 2024 and followed up by a PCC awayday in September.

Silent Prayer – This arose out of the suggestion that we make space for a more contemplative approach to prayer. Usually held on the first Friday of each month at 7:30pm, this is quite literally 55 minutes of silence, with brief introductory prayers at the start, and some equally brief closing prayers at the end. Numbers have been quite small, but this is much appreciated by those who do come.

Healing ministry – Over a period of a year, we ran two training groups using Acorn Christian Healing’s course “Growing a Healing Ministry”. This provided us with a large enough team to offer regular prayer for healing in our church services. We launched this ministry with a healing service on Sunday 19[th] October, and since then we have been able to offer prayer for healing at both our morning services twice a month – usually on the second and fourth Sunday of each month. This is already proving to be a really valuable part of our church ministry.

As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. At services of baptism, we thank God for the gift of life. In reading the banns the congregation joins in praying for those about to embark upon marriage where public vows are exchanged with God's blessing. Funeral services allow friends and family to express their grief and for the community to support them and join in giving thanks for the life which is now complete in this world and to commend the person into God's keeping.

We regularly provide opportunities for worship at Osmund Court and Derwent Lodge for elderly residents who are unable to attend services at church.

Toddler Church, in the third year since we re-introduced it in 2022, remains a popular event for young families. Meeting each Wednesday morning during term time, growing numbers of toddlers attend with their parents or carer, and this can lead to people coming to services.

The Sanctuary meetings led by Sharon Ashborn and Lucia Manika continue bi-weekly on Thursday evenings at 7.30 pm. They provide a quiet, safe place for women to connect with God, with other women and with themselves—a place where positive transformation can happen through the study of God’s word and the mindfulness of prayer.

Small groups continue to thrive. People gather to learn to love God and build, strengthen and deepen their faith through prayer, Bible study and other spiritual disciplines. Small Groups are safe places where we build, strengthen, and deepen our faith.

Special Events

The church year is constantly punctuated by special events. Congregations especially mark some. At the beginning of the calendar year began with the ecumenical service held at St Mary’s to mark the Week of Christian Unity [or ‘at the beginning of the calendar year St Mary’s participated in the ecumenical service to mark the Week of Christian Unity, prefacing a year of co-operation and working together on the part of all the parish churches.

We have continued to celebrate Easter services with a sunrise service on Easter Day, a moving and unifying experience for those able to attend, fueled by breakfast provided in St Mary’s Room.

We use the traditional Harvest Service as an opportunity to donate a large contribution to the village food bank as well as to reflect on our own great good fortune.

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We regularly draw the attention of the entire church community to our stewardship campaign in prayerful consideration of what the church can provide for the community and how parishioners can help support its activities and outreach. We are pleased to note that, as a result of prayerful giving, we were again able to commit to paying more than 100% of our parish share to the diocese.

The annual Remembrance Day service, coordinated by the Royal British Legion and involving all the Scout and Guide groups along with Parish Councillors in Billingshurst, provided its usual well attended focus for the village. Scores of people gathered in the graveyard to join in time for the moment of remembrance and recognition, symbolised by the gathering of uniformed groups around the village memorial to those who gave their lives in the two world wars. The reading of the names of the fallen and the playing of the Last Post and Reveille were very moving.

Advent was once again marked by the illumination of the star which would shine on the church steeple every night until Epiphany. At Christmas the village comes together as several churches and other community groups coalesced to produce a third glorious Billingshurst Nativity Procession. Now an established village event attracting many hundreds of people from neighbouring villages its climax is a beautiful tableau, prayers and uplifting singing in St Mary’s. In addition to fully costumed traditional characters and live and animated animals, music and dancing featured and the church was flooded with light through the stained-glass windows allowing many unfamiliar with it to appreciate the beauty of the church interior.

Christmas services provided a variety of approaches to different aspects of the celebrations of the season, including the informality and merriment of the Christingle service, and the solemn and thoughtful but joyful communion services at midnight and in the morning on Christmas Day.

Deanery Synod

Two members of the PCC sit on the deanery synod. This provides the PCC with an important link between the parish and wider structures of the church.

The Church Centre Complex

We continue to plan and pray for the transformation of the church which will allow us to bring more church activities into our heritage building. A recent legacy should help instigate some of the plans developed over many years and led by the incumbent and PCC member Tim Foulsham. Permanent opening is not possible because of the existence of valuable artefacts, being able to make the church more widely available as the transformation project develops. A rota of parishioners continues to allow us to open the church on two days a week. We look forward to the time when we shall be able to hold more community events in a reconfigured church with more activity and performance space and appropriate toilet and catering facilities. In the meantime, we have begun to hold some cultural events in the church as it stands, including two highly successful concerts in June and October (the latter as part of the prestigious Shipley Arts Festival) which drew in people from all over the village. Two quiz evenings were held in July and November. St Mary’s Room continues to provide a stalwart venue for multifarious activities for the community, mostly the parish. The congregations meet socially there between weekly services, except on the first Sunday of the month when the lingering and socialising takes place in the church itself.

Mission, Evangelism and Outreach

Membership of the PCC remains stable after the welcome arrival of new members with new skills last year. Members continue to aim to implement the plans outlined last year in the four key areas of activity for the church: transformation, outreach, worship and prayer. We continue to promote many activities for the community, some of which are purely social, and attendance indicates how much these are appreciated. These include coffee mornings, especially popular on Saturdays, Lent lunches and friendly lunches on certain Sundays for people who might otherwise eat alone. There are also regular Wednesday morning meetings providing social and learning opportunities largely (but not exclusively) for retired members of the community and a small but devoted band regularly meet for table tennis.

There are numerous activities for youngsters organized by our Children and Family Worker in addition to our weekly Toddler Church where Children 0-5 are welcome with their grown-ups for stories, songs, and snacks. There are weekly Baby Zone meetings (where Toddler Swap Shop has proved especially popular) and the four.

5

Billingshurst churches welcome families to monthly Messy Church at the Community Hub—fun, games, crafts, singing and stories for all to enjoy with a sit-down meal for the children and their grown up.

We are pleased to play our part in “Churches Together in Billingshurst” with two trustees representing St Mary’s working with the other church families in the village to oversee our ecumenical activities, including the annual joint service for the Week of Christian Unity in January. Coffee mornings, Messy Church, Street Pastors and the Nativity were examples of joint activities last year and we look forward to further growth in 2026. St Mary’s and the other churches are all represented at the Billingshurst Show, the new Weald School Fair and the Christmas Fayre, which are significant and well attended village occasions where we can be a visible part of the community, building connections with other organisations and with members of the community.

We regularly visit the primary school to deliver assembles alongside our colleagues in the other churches. The children come to St Mary’s for Easter and Christmas services, and we celebrate the Harvest festival with them in school. We are also regularly involved in faith debates at the Weald School.

Financial Review

Total receipts for unrestricted funds were £184,928, of which £143,711 were voluntary donations and a further £19,740 from Gift Aid.

The planned giving through the PGS (Parish Giving Scheme) - £52,557, an increase of 8.2%. The planned giving through envelopes and standing orders - £32,333 a decrease of 2%

Total unrestricted Income, including tax recovered, increased by 44.1%.

We were blessed with 2 legacies in the sum of £51,416 and £500 donated with no restricOons on their use, this together with our 4 fu nd raising events ( 2 concerts and 2 quiz evenings ) plus our annual Generous giving Sunday held in the autumn are reflected in the above and we thank everyone for their support and generosity.

Restricted income in relation to donations amounted to £5,311 detailed in the Financial Statement.

£138,543 was spent from unrestricted funds to provide the Christian ministry from St Mary's Church, including. the contribution of £84,703 to the diocesan parish share, to fund clergy stipends, National Insurance and pension, clergy housing, training for clergy, ordinands and lay people, support services for parishes such as safeguarding services, buildings advice and much more.

The sum churches must fund in the deanery are shared between the churches according to a formula that is based on a head count of the congregations. St Mary’s provided 104% of their Parish Share in 2025 to help support those parishes who are financially less fortunate.

The net result for the year was a surplus of £46,385 over payments on unrestricted funds prior to any transfers. Adding bank balances brought forward at the beginning of the year, and transfers between funds the total unrestricted funds carried forward on 31[st] December 2025 amounted to £348,410.

Restricted Funds

The net result for the year was an excess of payments over receipts £7,120.

The total restricted funds carried forward on 31[st] December 2024 were £71,072.

Reserves Strategy

It is the PCC policy to maintain a balance on the general unrestricted funds (excluding property) which equates to approximately six months' worth of unrestricted payments as contingency against unforeseen situations.

This was not achieved in 2025; despite continuing to maintain good control of expenditure in these challenging times and an increase in our income over the previous year, the balance did not increase to the level anticipated.

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Our annual Generous Giving Sunday took place in late September which focused on the importance of reviewing regular giving and Legacies and was positively received, and as previously mentioned in this report, this together with three fundraising events (two music concerts and one quiz) helped place us in a better financial position at the end of 2025. More fund-raising events are planned for 2026.

It is PCC policy to invest fund balances with the CBF Church of England deposit fund.

Volunteers

We would like to thank our numerous volunteers together with our Church Wardens Sylvia Tilley, Stuart Wallace, and Tony Duffy, for their tireless work on our behalf, with special thanks to Sylvia Tilley who stepped down at the APCM in May after many years of dedicated service, welcoming Tony Duffy as her replacement.

Amongst the most important volunteers are those who work largely behind the scenes but whose contribution is essential to ensuring that St Mary’s is a pleasant and welcoming place to be, especially those who clean and maintain the building, arrange flowers to decorate the church, ensure the upkeep of the grounds and maintain with complete imperturbability a ceaseless flow of refreshments at regular informal meetings and high profile events.

We also thank the members of our PCC lead by Reverend David Beal, for their valuable contribution to our ministry and ensure our church is a warm, welcoming, and vibrant space for all our Billingshurst community.

Structure, Governance and Management

The method of appointment of PCC members is set out in the Church Representation Rules. At St Mary's the membership of the PCC consists of the incumbent (our vicar), church wardens and members of the congregation who are on the electoral roll of the church. All those who attend our services who are members of the congregation 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 Church funds are used.

New PCC members receive initial training, which includes safeguarding and their responsibilities as Trustees.

The full PCC met eight times during the year with an average attendance of 85%. Given its wide responsibilities the PCC has several committees each supporting a particular aspect of parish life.

These committees, which include worship, mission and outreach, fabric (transformation) and finance, are all responsible to the PCC and report back to it regularly with minutes of their decisions being received by the full PCC.

Safeguarding

Safeguarding is now a standing item on the PCC agendas and no safeguarding issues or incidents occurred during 2025.

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Admini5tratlon Informatlon St Mary's Church is situated on East Street, Billirygshur5t. It is part of the Oiocese of Chichester within the Church of England. All correspondence should be addressed to: St Mary's Church Office, East Street, 8illingshurst, RH149PY. The Parochial Church Council IPCCI is a body corporate IPCC Powers Measure 1956, Church Representation Rules 20201 and 15 registered with the Charities Comrrission within the meaning as required bi the Charities Act 2011. The PCC is a charity registered with the Charity Commission INO 11327881. PCC members who have served during 2025 Incumbent.. The Reverend David Beal Churchwordens.. Stuart Wallace Tony Duffy lelected April 20181 (elected May 20251 DEanerySynod.. Hazel Barnes Sandy Duck lelerted May 20231 (elected May 20231 Treasurer Electedmembers.. Retired 2025.. Tonywarren lelerted April 2019. re-elected May 20221 Retiring 2026.. Paul Moss Jonathan Little (elected April 2020, re-elected May 20231 (elected Mèy 20241 Retiring 2027.. Christina Arnold Elizabeth Connor Simonwitham (elected May 2021, re-elected May 20241 (elected May 20241 (elected May 2021, re-eletted May 20241 Vice Chairman Retiring 2028.- Durell Barnes TIM Foulsham (elected May 2022- re-elected May 20251 (elected May 2022- re-elected May 2025 Co-opted Member Tina Woodhead IAppointed May 20251 Approved by the PCC on 16 signed on its behalf by the Revere av {ptC Chairman)

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

Independent examiner's report to the Trustees of The Parochial Church Council of the Ecclesiastical Parish of St Mary's ('the charity')

We report to the charity Trustees on our examination of the accounts of the charity for the year ended 31 December 2025.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

We report in respect of our examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

We 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.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for our work or for this report.

Signed: Dated: 24.03.2026 James Peach FCA

Kreston Reeves LLP Springfield House Springfield Road Horsham West Sussex RH12 2RG

Page 9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Note
Income and
endowments from:
Donations and legacies
2
Charitable activities
3
Fundraising events
4
Investments
5
Total income and
endowments
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income/
(expenditure) before
net gains on
investments
Net gains on
investments
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2025
£
163,451
5,794
3,039
12,644
184,928
472
138,071
138,543
46,385
-
46,385
302,025
46,385
348,410		 Restricted
funds
2025
£
5,311
-
-
-
5,311
-
12,431
12,431
(7,120)
-
(7,120)
78,192
(7,120)
71,072		 Endowment
funds
2025
£
-
-
-
-
-
-
-
-
-
-
-
10,301
-
10,301		 Total
funds
2025
£
168,762
5,794
3,039
12,644
190,239
472
150,502
150,974
39,265
-
39,265
390,518
39,265
429,783		 Total
funds
2024
£
125,157
8,206
3,179
8,711
145,253
1,038
140,748
141,786
3,467
219
3,686
386,832
3,686
390,518

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 12 to 25 form part of these financial statements.

Page 10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARYS BALANCE SHEET AS AT 31 DECEMBER 2026 2025 2024 Note Fixed as80ts Tangible assets Investments 10 11 125,134 10,301 126,192 10,301 135.435 136,493 Currnnt assets Debtors Cash at bank and in hand 12 5,391 291.658 4,866 251.908 297,049 256.774 CrediloT5.' amounts falling due within one year 13 12,7031 12.749) Ngt current assets 294,346 254,025 Total assets less current liabilitlos 429,781 390,518 Total net assets 429.781 390,518 Charfty funds Endowment funds Restricted funds Unrestricted funds 14 10,301 71.072 348.408 10,301 78,192 302,025 14 14 Total funds 429,781 390,518 The financial stslements were approved and authorised for issue by the Trustees and signed on their behaK by.. Rev David Beal Date.. If L)2G The notes on p89$8 12 to 25 fomi part of these financial statemants. Page 11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Parochial Church Council of the Ecclesiastical Parish of St Mary's meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.4 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Accounting policies (continued)

1.4 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

1.5 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.

1.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

1.9 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Accounting policies (continued)

1.10 Pensions

The charity participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.

CWPF has two sections:

  1. the Defined Benefits Scheme

  2. the Pension Builder Scheme, which has two subsections;

  3. a. a deferred annuity section known as Pension Builder Classic, and, b. a cash balance section known as Pension Builder 2014.

Pension Builder Scheme

Both sections of the Pension Builder Scheme are classed as defined benefit schemes.

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2025: £443, 2024: £316).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022.

For the Pension Builder Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2026, the Board chose to grant a discretionary bonus of 10% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 1997 service so that the pension increase was also 10% (where usually it would be calculated based on inflation up to an annual cap of 5% for pensions in payment in respect of service prior to April 2006 and 2.5% for pensions in payment in respect of service post April 2006). This followed improvements in the funding position over 2025. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The Church of England Pensions Board has agreed that some employers could use assets in the DBS of the CWPF in lieu of contributions to Pension Builder Classic and/or Pension Builder 2014. You will see this information on your DBS statement which will be sent separately.

The next valuation is being carried out as at 31 December 2025.

The legal structure of the scheme is such that if another employer fails, the charity could become

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Accounting policies (continued)

1.10 Pensions (continued)

responsible for paying a share of the failed employer’s pension liabilities.

1.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Endowment funds are funds which are held on a permanent basis by the charity.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2. Income from donations and legacies

Planned giving
Collections at all services
Sundry donations and appeals
Reordering
Income tax recoverable
Grants (charity giving)
Bequests and legacies
Total 2024		 Unrestricted
funds
2025
£
83,116
3,684
1,090
-
21,888
1,757
51,916
163,451
108,308		 Restricted
funds
2025
£
90
-
2,967
1,369
885
-
-
5,311
16,849		 Total
funds
2025
£
83,206
3,684
4,057
1,369
22,773
1,757
51,916
168,762
125,157		 Total
funds
2024
£
78,940
3,662
15,231
852
20,873
4,549
1,050
125,157

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

3. Income from charitable activities

Church hall lettings etc.
Fees from weddings etc.
Miscellaneous income
Total 2024		 Unrestricted
funds
2025
£
3,149
1,399
1,246
5,794
8,179		 Restricted
funds
2025
£
-
-
-
-
27		 Total
funds
2025
£
3,149
1,399
1,246
5,794
8,206		 Total
funds
2024
£
3,396
3,536
1,274
8,206

4. Income from fundraising events

Fetes, bazaars and other fundraising activities
Total 2024
Investment income
Dividends and Interest
Total 2024		 Unrestricted
funds
2025
£
3,039
3,179
Unrestricted
funds
2025
£
12,644
8,711		 Total
funds
2025
£
3,039
3,179
Total
funds
2025
£
12,644
8,711		 Total
funds
2024
£
3,179
Total
funds
2024
£
8,711

5. Investment income

Page 16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

6. Expenditure on raising funds

Fundraising trading expenses

Other events
Total 2024		 Unrestricted
funds
2025
£
472
1,038		 Total
funds
2025
£
472
1,038		 Total
funds
2024
£
1,038

7. Expenditure on Charitable activities

Charitable activities
Secular charities
Diocesan parish contribution
Church running expenses
Church maintenance
Publicity
Youth and children expenses
Depreciation
Organist/choir costs
Church administration costs
Independent examiner's fee
Total 2024		 Unrestricted
funds
2025
£
2,182
84,703
20,942
4,292
1,796
(90)
688
3,330
18,248
1,980
138,071
131,077		 Restricted
funds
2025
£
-
-
8,056
-
-
4,375
-
-
-
-
12,431
9,671		 Total
funds
2025
£
2,182
84,703
28,998
4,292
1,796
4,285
688
3,330
18,248
1,980
150,502
140,748		 Total
funds
2024
£
4,773
83,074
20,293
7,192
1,749
8,269
838
3,600
9,091
1,869
140,748

Page 17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

8. Staff costs

Wages and Salaries
The average number of persons employed by the charity during the year was
Average number of employees		 2025
£
22,873
as follows:
2025
No.
4		 2024
£
17,830
2024
No.
4

No employee received remuneration amounting to more than £60,000 in either year.

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL).

10. Tangible fixed assets

Cost or valuation
At 1 January 2025
Disposals
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the year
On disposals
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Freehold
property
£
137,514
-
137,514
11,692
688
-
12,380
125,134
125,822		 Office
equipment
£
2,145
(745)
1,400
1,775
-
(375)
1,400
-
370		 Total
£
139,659
(745)
138,914
13,467
688
(375)
13,780
125,134
126,192

Page 18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

11. Fixed asset investments

Cost or valuation
At 1 January 2025
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Listed
investments
£
10,301
10,301
10,301
10,301

12. Debtors

Due within one year
Other debtors
Accrued income		 2025
£
2,097
3,294
5,391		 2024
£
2,775
2,091
4,866

13. Creditors: Amounts falling due within one year

Trade creditors
Accruals and deferred income		 2025
£
723
1,980
2,703		 2024
£
889
1,860
2,749

Page 19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

14. Statement of funds

Statement of funds - current year
Unrestricted funds
Designated funds
Contingency
Vicarage decoration
Vicar's contingency
Fabric
Flower
Organ
Property
Social committee
Social club sale
General funds
General Funds
Total Unrestricted funds*		 Balance at 1
January
2025
£
7,357
503
642
2,546
24
2,074
127,198
186
218,069
358,599
(56,574)
302,025		 Income
£
500
-
-
-
-
-
-
-
-
500
184,427
184,927		 Expenditure
£
(1,963)
-
-
(639)
-
-
-
-
-
(2,602)
(135,942)
(138,544)		 Balance at
31
December
2025
£
5,894
503
642
1,907
24
2,074
127,198
186
218,069
356,497
(8,089)
348,408

Page 20

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

14. Statement of funds (continued)

Endowment funds
St Mary's Endowment
Restricted funds
Choir
Churchyard
Vicarage decoration
Flower
Organ
Social Committee
Church reordering
St Mary's endowments
Youth and children
Children and families
St Mary's Room Fund
Total of funds		 10,301
498
538
1,300
130
1,246
90
67,378
2,557
3,617
415
423
78,192
390,518		 -
-
-
50
650
-
-
2,116
-
2,388
107
-
5,311
190,238		 -
-
(213)
-
(364)
-
-
(7,479)
-
(4,165)
(210)
-
(12,431)
(150,975)		 10,301
498
325
1,350
416
1,246
90
62,015
2,557
1,840
312
423
71,072
429,781

Page 21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

14. Statement of funds (continued) Statement of funds - prior year

Unrestricted funds
Designated funds
Contingency
Vicarage decoration
Vicar's contingency
Fabric
Flower
Organ
Property
Social committee
Social club sale
General funds
General Funds
Total Unrestricted funds*		 Balance at
1 January
2024
£
7,113
503
642
7,853
24
2,074
127,198
186
218,069
363,662
(57,899)
305,763		 Income
£
758
-
-
200
-
-
-
-
-
958
127,419
128,377		 Expenditure
£
(514)
-
-
(5,507)
-
-
-
-
-
(6,021)
(126,094)
(132,115)		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31
December
2024
£
7,357
503
642
2,546
24
2,074
127,198
186
218,069
358,599
(56,574)
302,025

Page 22

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

14. Statement of funds (continued)

Endowment funds

St Mary's Endowment
Restricted funds
Choir
Churchyard
Vicarage decoration
Flower
Organ
Social Committee
Church reordering
St Mary's endowments
Youth and children
Children and families
St Mary's Room Fund
Total of funds		 10,082
498
738
1,300
46
1,246
90
55,166
2,557
8,443
903
-
70,987
386,832		 -
-
-
-
648
-
-
12,662
-
2,831
35
700
16,876
145,253		 -
-
(200)
-
(564)
-
-
(450)
-
(7,657)
(523)
(277)
(9,671)
(141,786)		 219
-
-
-
-
-
-
-
-
-
-
-
-
219		 10,301
498
538
1,300
130
1,246
90
67,378
2,557
3,617
415
423
78,192
390,518

Page 23

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

14. Statement of funds (continued)

Restricted Fund detail s

Designated fund details

These are funds allocated out of the unrestricted fund for specific future purposes or projects.

*The use of the Social Club sale fund is limited by the following covenants allowing the proceeds to be used only in respect of:

Endowment fund details

These are historical endowments held by the Church of England on behalf of the church.

Page 24

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY'S

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2025
£
125,134
-
225,977
(2,703)
348,408		 Restricted
funds
2025
£
-
-
71,072
-
71,072		 Endowment
funds
2025
£
-
10,301
-
-
10,301		 Total
funds
2025
£
125,134
10,301
297,049
(2,703)
429,781

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
126,192
-
178,582
(2,749)
302,025		 Restricted
funds
2024
£
-
-
78,192
-
78,192		 Endowment
funds
2024
£
-
10,301
-
-
10,301		 Total
funds
2024
£
126,192
10,301
256,774
(2,749)
390,518

16. Related party transactions

The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 December 2025.

Page 25