',James ST JAMES, CHURCH- HEMINGFORD GREY CHARITY No. 1132817 STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024
ST JAMES, CHVRCH - HEMINGFORD GREY Index Page No. Annual Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet 8-13 Notes to the Financial Statements
STJAMES, CHURCH- HEMINGFORD GREY ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31ST DECEMBER 2024 AdmlnEstration Infomiatlon St James, Church is situated in the Parish of Hemingford Grey, in the Deanery of Huntingdon, part of the Diocese of Ely within the Church of England. The Parochial Church Council (PCC) is a registered charity, Number 1132817. Ex Offlclo M8mbers Revd. Timothy May Rev, Judith Bolton Ben Pearson (appointed 23rd July 2024) (retired Glergy) (Children and Youth Minister) Membership of St James, PCC 2024 Robert Barker Heather Chambers Alison Craven Tim Drye Mark Enzer Allen Foster Simon Keen Grace Mathews Steve Moller Ed Nevill Elizabeth Pinnock Mlke Pinnock lan Sinklnson Clive Sprawson Shirley Stirling Stephen Teirell Stanley Trencher Aline Zwanenburg (appointed 111h May 2024) (appointed 11th May 2024) (resigned 111h May 2024) (Honorary Treasurer) (Churchwarden) (Churchwarden) (appointed 111h May 2024) (appointed 11th May 2024) (resigned 111h May 2024) Appolntment of Trusteos PCC members were appointed at our Annual Parochial Church meeting, which was held in May 2024 and are the trustees of St James, Church. ObJactlve8 and Actlvltle8 st James, PCC Values God first,. Individually and together Listening to others wlth open hearts and minds Love and acceptance for each other Shared ownership of the leadership The Charlty's Activltles st James, Church is committed to offer the opportunty of Christian worship to all in our local community- We aim to enable our members, and others. to live out their faith in the worfd and make a valuable and enriching contribution in the communtlies where we live and worship. We do this through worship, prayer, and leaming about the Gospel, outreach, community involvement and pastoral care. Page 1
PubliG Benefit During 2024 St James, Sunday services were held at 10.00am and the church carried out its regular oulreach activities in the community and continued to support the work of the gospel of Jesus Christ through its Mission Partners. During this year the Parish Centre continued to be open to the public providing a space for regular church activities and outreach, such as the Drop in Cafe, also a registered Warm Space. St James continues to Live Stream Sunday Services and provbdes printed materials to those who still wish to stay at home, Church attendance As at December 2024 there were 135 church members on the electoral roll with an average of 70 worshipers and 16 children and young people in allendance at Sunday services. There were 4 weddings and 1 wedding blessing, 5 bapts'sms and 6 funeral seNices in the parish church during 2024. Year In Revlew 2024 Rev Tim May became the vlcar of St James, Church in July 2024 and we recruited a new member of the administration team who works on church publications. Our Youth and Children's Minister became a mental health first alder. Servlces The Annual Parochial Church meetlng was held on 12th May and there were 63 people in attendance. Easter and Christmas services were held at St James for members of the congregation and parish, they were well attended as they have been in previous years. As in other years the Rlverside seNice was held in July. a popular, outside service held in the church yard for both villages, following the Regatta. Wednesday Communion, Night Prayer and Morning Prayer continued throughout the year. The church organised a World Mission Sunday where the work of our mission partners was celebraled. Church Activltles Families from the village attended an Easter Fair, Dads and Kids camping and BBQS during the year. The Nativity service, Carol Servlce and Christmas Day servlces were well attended. The Children and Youth Minister held Christingle services for the local primary school and continued to go into school for assemblies throughout the year. In December we held a Quiz which attracted 90 people from both church and the village. The guest speaker was Graham Daniels from Christlans in Sport. First steps, the weekly baby and toddler group, continued to be well attended during 2024, During this year the Vvomen's group, Flourish, rnet a number of times socially and to take part in lalks and craft. Dmp In Café The Parish Centre continued to open its drop in cafe on Wednesday and Thursday momings, run by volunteers from bolh church and the community. We welcomed some new volunteers during the year and are grateful for thelr continued support. A Monday Light Lunch and Warm Space stsrted in November this year and was attended by around 24 members of the parish each week who valued a warm lunch and company. World Mlssion St James, Church continues to partner with several overseas mission partners supporting them flnancially and in prayer. It was agreed that in 2025 The Holy Land Institute for the Deaf would become one of our Mission Partners Support to people In need In 2024 St James continued its parthership with Hope Into Action, supporting a family in frlendshlp and prayer who reside in the church house. Page 2
Eco church St James continues to be an Eco Church and carties out work throughout the year to ensure It malnlains its bronze award status. Church bulldlngs Work was carried out to trees in the church yard to make them safe. Work continues to be done on designing a new heating system for church. Financial Review During the year voluntary giving to the General Fund increased slightly to £159,861 and overall income into the General Fund increased to £222.931. Overall expenditure in the General Fund remained latively static at £217,899 resulting in a surplus of £5,032. The PCC maintained Its policy of donating 150/0 of income to our mission partners, totaling £28,510 in 2024. In addition, £8,630 was collected in donations to support the work of Dr Anbesan Hoole in BACH Hospllal, Pakistan. Unrestrl¢tod Funds Development £2,903, General £862,974. Restrlctod Funds Bells £1,952, Don Brown £17,659, Garden Room £7,526, Restricted Donations £1,487 Investment Pollcy St James, investment policy 15 delivered in accordance with the Diocese of EW and PCC approval. R8serve8 Pollcy It is the policy of the PCC to maintain a balance in the General Fund to cover at least 3 months costs in case of unavoidable redundancies and emergency situations. Ri8k Pollcy st James, Church Charlty assesses all substantlal risks and implements appropriate measures to manage them. At the year end, the church believes that it is not subject to any substantial risks beyond the liabilities disclosed in its financbal statements. The church holds appropriate insurance policies to safeguard the public and users of our facilities, its members, employees and assets. We have a Health and Safety Policy and a Safeguarding Policy updated in accordance with the Diocese of Ely. Page 3
Trustees. Responslbllltles Statement The trustees are responsible for preparing the Trustees, Annual Report and the financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepled Accounting Practice). The law applicable to charities in England & Wales qUireS the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then appEy them consistently,, observe the methods and principles in the Charities SORP 2019 (FRS 102); make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will not continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charities (Accounts and Reports) Regulations 2008, the provlsions of the trust deed and current church accounting regulations. They are also responslble for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the PCC on 7th May 2025. Slgned on their behalf by. Revd. Tlmothy May Page 4
INDEPENDENT EXAMINER'S REPORTTO THE PCC OF STJAMES. CHURCH- HEMINGFORD GREY I report to the charlty trustees and members of the PCC on my examination of the accounts of the PCC for the year ended 31st December 2024 which are set out on pages 8 to 13. Respectlve responslbllities of the PCC and the examinèr As the charity's trustees and members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act,) and current Church Accounting Regulations. I report in respect of my examination of the PCC'S accounts carried out under section 145 of the Act and current Church Accounting Regulations and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the Act and current Church Regulations, Independont examiner's ststement I have completed my examination. I confirm that no material matters have come to my atlention In connection wilh the examination giving me cause to believe that in any material respect., 1. accountlng records were not kept in respect of the charlty as required by section 130 of the Act; or 2. the accounts do not accord whth those records,. or 3. the accounts do not comply with the applicable requirements conceming the form and content of the 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 examlnation. I have no concerns and have come across no other matters in connection wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. H Tacconi (FCA) 32a East street st. Ives Cambridgeshire PE27 5PD Date: Tr)Lfj Page 5
ST JAMES. CHURCH- HEMINGFORD GREY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 Unrestrlcted Funds Restricted Funds 2024 Total 2023 Total Nots INCOMING RESOURCES Voluntary giving Activities for generating funds Income from investments Church activities income 2a 2b 2c 2d 195,569 8,735 9.243 9,384 12,354 207,923 8,735 9,759 10,104 205,689 1,812 8,928 8,769 516 720 TOTAL INCOMING RESOURCES 222,931 13,590 236,521 225,198 RESOURCES EXPENDED Church actlvlties Governance costs 3a 3b 153,112 64,787 14,787 167,899 64,787 166,187 62,199 TOTAL RESOURCES EXPENDED 217,899 14,787 232,686 228,386 NET INCOMING RESOURCES BEFORE OTHER RECOGNISED GAINS AND LOSSES 5,032 (1,197) 3,835 (3,188) Transfer between funds other recognlsed galns and losses Galn on Investment 1,510 266 1,776 6,675 NET MOVEMENT IN FUNDS 6,542 (9311 5,611 3,487 BALANCES BIFWD 1ST JANUARY 859,335 29,555 888,890 885,403 BALANCES CIFWD 31ST DECEMBER 865.877 28,624 894 501 888,890 The notes on pages 8 to 12 form part of these accounts. Page 6
ST JAMES, CHURCH- HEMINGFORD GREY BALANCE SHEET AS AT 31ST DECEMBER 2024 Unrestrfcted Funds Restrfcted Funds 2024 Total 2023 Total Notes FIXED ASSETS Tangible 754,435 7,526 761,961 764,089 754.435 7,526 761,961 764,089 CURRENT ASSETS Short term investment Debtors Cash at bank and in hand 66.950 4,564 50,307 12,447 81 8,570 79,397 4,645 58,877 77,621 4,429 51,929 121,821 21,098 142,919 133.979 LESS CURRENT LIABILITIES Credltors - amounts falling due in one year {10,379} 110,379) (9,178) NET CURRENT ASSETS I (LIABILITIES) 111,442 132,540 124,801 Total as88ts1858 current Ilabilltles 865,877 28,624 894,501 888,890 Creditors- amounts falling due after one year TOTAL NET ASSETS 865,877 28,624 894 501 888 890 Represented By: Unrestricted Income Fund8 865,877 865,877 859,335 Re8trlcted Income Funds: 28,624 28,624 29,555 865 877 28,624 894,501 888 890 These accounts were approved by the management committee and signed on their behalf by: Signed.. Revd. fimothy Date: 7th May 2025 Page 7
ST JAMES. CHURCH- HEMINGFORD GREY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 I ACCOUNTING POLICIES Basis of Accountlng The financial statements have been prepared under the Charikn'es Act 2011 and comply wllh the Statement of Recommended Practice SORP (FRS 102) and with FRS 102 on the basis that the Church is a public benefit entity., and also guidance issued by the Charity Commission and Ihe PCC in accordance with current Church Accounting Regulations. The accruals basis of accounting had been adopted, and the principle accounting policies set out below are applled consistently and are also consistent wllh the 'going contsrn, concept adopted. There are no material uncertainties about the Church's ability to continue as a going COnrn. Neither do the financial statements contain Sny management judgements - significant or OtheiSe, nor are there any changes in the accounting policies adopted or material errors in prior yearfs accounts. Funds Unrestricted funds are general funds which can be used for PCC ordinary purposes. Restricted funds represent {a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b} donations or grants reiVed for a specific object or invlted by the PCC for a specift object. The funds may only be expended on the specifiG object for which they were given. Any balance remaining unspent at the end of the year must be carried foNard as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment. interest is apportioned to individual funds on an average balance basis, Incomlng resourc08 Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the Incoming resource to which they relate is received. Grants and legacles are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable, All incoming resources are accounted for gross. R8sourc88 expended Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obllgation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and15 accounteé for gross. Flxed assets Consecrated and beneficed property is not included in the accounts In accordance wllh S.96{2){a) of the Charities Aot 1993. Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable propety. listed in the church's Inventory, which can be inspected (at any reasonable tirr}. For anythin9 acquired prior to 2000 there is insufficient cost informalion available and therefore such assets are not valued in the financial statements. Subsequently no individual item has cost more that £1,000 so all such expenditure has been written off when incurred. Depreciation Is provided at th8 following annual rates calculated to write off assets over their estimated usefijl lives: Equlpment Computer equipment 10% on cost 33.330h on cost Page 8
ST JAMES. CHURCH- HEMINGFORD GREY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Investment Assets These are stated as mid-market values on the balan sheet date. Changes in valuation over the year are recognised in the Statement of Financial Activities. Penslon Fund St James, Church participates in the Pension Builder Scheme section of CIM)F 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 parts'cipating employers. CWPF has Iwo sections.. the Defined Benefits Scheme the Pension Builder Scheme, which has two subsecbons. a deferred annuity section known as Pension Builder Classic, and, a cash balance section known as Pension Builder 2014. Penslon Bullder Scheme Both sections of the Pension Builder Scheme are classed as defined benefit schemes. Penslon Bullder Classlc 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. Penslon Bullder 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 retSrement, depending on investment retums and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. There is no sub-dlvision of assets between employers in each section of the Pension Builder Scheme. The scheme is consldered 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 Scherne'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 contributbons payable 2024.. £4,572 (2023: £4,603). A valuatlon of the Penslon Builder Scheme is carried out once every three years. The most cent valuation was carried out as at 31 sl December 2022. The next valuation is due as at 31 st Dernber 2025. For the Pension Builder Classic section, the 2022 valuats'on revealed that all three sections of CWPF are now in surplus on the ongoing assumptions used. At the mst recent annual review effective 1 st January 2025, the Board chose to grant a discretionary bonus of 6.7 % 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 2006 seNice so that the pension increase vtss 50A (where usually it would be calculated based on inflation up to 2.50/0). This followed improvements in the funding position over 2024. There 15 no requirement for deficit payments at the Gurrent time. For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongolng assumptions used. The Board granted a discretionary bonus, to be applied from 1 April 2024, of 4.8 /0 to contributions paid in 2022. There is no requlrement for deficit payrrents at the curient time. The legal structure of the scheme is such that if another employer fails, St James, Church could become responsible for paying a share of the failed employerfs pension liabilities. Page 9
STJAMES. CHURCH- HEMINGFORD GREY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 INCOMING RESOURCES Unrestricted Funds Restrlcted Funds 2024 Total 2023 Total Voluntary Income Planned giving: Donations (Gift Aid & non-Gift AKI) 146.989 Gift Aid recoverable 34,000 Collections - open plate 1,708 Donations, appeals & grants 12,872 146,989 35,153 1,708 24,073 139,177 34,272 2,144 30,096 1,153 11,201 195,569 12,354 207,923 205,689 2b Actlvltles for generatlng fund8 Children & youth groups Photocopying income Lettlngs income - Parish Centre Book sales income 4,254 1,061 3.420 4,254 1,061 3,420 768 1,015 29 8.735 1,812 2c Investment Income I nterest received CCBA I CBF dividend Rental income 1.412 1,831 6,000 323 193 1,735 2,024 6,000 807 2,121 6,000 9,243 516 9,759 8,928 2d Income from church activltles Wedding and funeral fee income Other incoming resources 3,959 5,425 720 4,679 5,425 1,410 7,359 9,384 720 8,789 Total Incomlng rosources 222,931 13,590 236,521 225,198 Page 10
STJAMES. CHURCH- HEMINGFORD GREY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 RESOURCES EXPENDED Unrestricted Funds Rastrlcted Funds 2024 Total 2023 Total 3a Church actlvltles Mission and charitable gNing Wedding & funeral costs Organist Vlcar's and curate's expenses Activlty fees Salary and social security costs Pension costs Insurance Property costs utility costs Training course costs Cleaning costs Repairs and malntenance costs Telephone and computer costs Printing and stationery costs Sundries costs Legal and professional fees Coffee hub Depreciation 28,510 1,505 50 473 10,201 63,207 4,572 5,142 1,025 9,312 514 2.829 7.377 2,644 3,925 6,856 690 3,595 685 11,961 600 40,471 2,105 50 473 10,201 63,207 4,572 5,142 1,025 9,312 514 2,829 7,391 2,644 3,925 6,881 690 3,59S 2,872 45,823 651 50 4,610 65,961 4.603 4,332 2,202 8,879 346 3,143 6.116 2,993 3,171 4,731 2,230 3,372 2,974 14 25 2,187 153,112 14,787 167 899 166,187 3b Governance costs Ely dlocese Accountancy 64,137 650 64,137 650 81,569 630 64.787 62 199 Total re80urces expended 217,899 14,787 232,686 228,386 STAFF COSTS 63,207 63,207 65,961 Page11
ST JAMES, CHURCH- HEMINGFORD GREY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 5 FIXED ASSETS Freehold Pro Com ui ui Total Cost As at 1st January 2024 753,165 26.103 16,370 795,638 Additions 204 540 744 Disposals As at 31 st December 2024 753,165 26,307 16,910 796,382 DepreclatSon As at 1st January 2024 15,906 15,643 31,549 Charge for the year 2,309 563 2,872 Elimination on disposals As at 31 st December 2024 18,215 34,421 Not Book Valuo As at 31 st December 2024 753 165 8,092 704 761,961 As at 31st December 2023 753 185 10,197 727 764,089 The freehold propety comprise the Parlsh Centre at 33 High Street, 19 st.lves Road and 33 Wren Close, Hemlngford Grey. Although the properties are shown on the balance sheet the deeds are held by The Ely Diocesan Board of Finance. 6 SHORT TERM INVESTMENT 2024 2023 Market value bld as at 1 st January Invesled during the year Gain l (Loss) on investment 77,621 70,946 1,776 6,675 Market value thd as at 31 st December 79,397 77,621 Page 12
STJAMES, CHURCH- HEMINGFORD GREY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 DEBTORS Recoverable Gift Aid Olher debtors Prepayments 2,647 327 1,671 3,937 242 250 4,645 4,429 LIABILITIES Accruals PAYE creditor Pension credditor other creditors 5.728 1,784 337 2,530 4,650 2,203 375 1,950 10,379 FUNDS Unrestricted Development General 2,903 862,974 2,903 856,432 865,877 859,335 Re8trl¢ted Bells Don Brown legacy Garden Room Restricted donations 1,952 17,659 7,526 1,487 1,550 16,876 9,713 1,416 28,624 29,555 Page 13