',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 COn￿rn. Neither do the
financial statements contain Sny management judgements - significant or Othe￿iSe, 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 re￿iVed 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 De￿rnber 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 bl￿d 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