ALL SAINTS STAPLEHURST
FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL AND ANNUAL REPORT
For the year ended 31 December 2024
RECTOR
The Reverend Silke Tetzlaff
AUTHORISED LAY MINISTER Mrs Audrey Bullock
TREASURER
Mr Simon Evans ACMA, ACIB
CHURCHWARDENS Mr Adam Houghton Mrs Joanne Evans
BANKERS NatWest Bank
3 High Street, Maidstone, Kent, ME14 1XU
Lloyds Bank
‘Woodside’, Cranbrook, Kent, TN17 3DJ
INDEPENDENT EXAMINER Mr Stephen Pooley BA FCA
1
TREASURER’S REPORT
Financial Review
In 2024 the UK has continued to experience challenges in the macro economic climate. This uncertainty is driven by the volatility in the financial markets, particularly related to interest rates, the cost of living crisis, and the ongoing effects of the conflicts in Ukraine and Palestine and the global pandemic. All Saints (like every other church and organisation) has and will continue to feel the financial implications of these and as yet we do not know by how much, or for how long.
The funds of All Saints PCC are split into three categories:
-
Unrestricted (general) funds may be spent by the PCC on any object it sees fit within the boundaries set by its aims and objectives as a charity, which are, broadly, to provide Christian ministry in Staplehurst.
-
Designated Funds are sums allocated by the PCC for a particular purpose, but may be reallocated if circumstances change. Restricted Funds (included within the same column) may only be spent on the purposes for which they were given, for example the grant made by the Parish Council for the upkeep of the churchyard.
-
Endowment funds are funds donated and invested, and dedicated for a specific purpose.
2024 was an exceptionally challenging year, with an overall deficit in the year of £7,044, due mainly to the pressures of the Tower Turret project.
With an initial cost of £110,000, the PCC agreed for the Tower Turret work to begin in July 2024, having managed to secure funding from a number of grant bodies, the PCC, Friends of All Saints and general fundraising. Unfortunately, once the worked started, the spirelet timber was discovered to be in a very poor condition, requiring immediate remedial work, resulting in an additional cost of £20,000 for the repair and a further £20,000 for the time extension (primarily the cost of the scaffolding). Thankfully, additional support from the Friends of All Saints and National Churches Trust has helped with some of the shortfall; however we still have to find £15,000. A claim is pending with the Diocese to cover some of this and further fund raising continues. The Tower Turret work is now thankfully complete, and the scaffolding has come down.
In 2024 total unrestricted income was £70,384. Full details are given in the Financial Statements Note 1. This is £16,945 lower than 2023, partly due to lower donations, with £10,000, and £4,000 received from back dated Gift Aid claims transferred to the Tower Fund,. In addition PCC Fees are £7.646 lower than 2023 due to less baptisms, weddings and funerals in the year.
The Magazine, which is valued by the local community, made a surplus of £3,085 and fund raising contributed £1,379 to total income. In addition, the Newlyn Trust were very generous in giving grants of £2,500 to the PCC as well as additional funds to the Tower Fund.
In May 2024, with the support of Lindsay Yates the Diocese Generous Giving Advisor, we were able to obtain a Payaz contactless donation machine. This has resulted in donations of £990 in 8 months, the vast majority of which we can claim Gift Aid (GASDS) on. We will continue to promote this, as well as all other methods of giving to the church.
2
In 2024 £69,024 of unrestricted funds was expended on church activities by All Saints. . Full details are given in the Financial Statements Note 2. This is £22,263 lower than 2023 mainly due to lower Parish Share contributions.
Parish Share is our contribution to the Diocesan fund which pays for parish clergy stipends, pensions and accommodation, with an element for training and the provision of some central services. Due to the pressures of the Tower work and lower donations the PCC was only able to pay £6,000 of the requested amount. All Saints’ requested contribution to the Parish Share is determined using a formula based primarily on weekly attendance at services. The amount of Parish Share requested for 2024 was £74,999 (an increase of £7,513 on 2023). It is unlikely that we will be able to pay this amount in the foreseeable future and it will be added to the unpaid amounts for 2023 and previous years, making a total of £196,369 unpaid. While the Diocese has not forgotten this sum, because we are unlikely to be able to repay the shortfall in the coming years, they agree that we are not required to accrue the outstanding value of Parish Share arrears in our accounts. All Saints’ Parish Share for 2025 has been assessed at £87,823, a 17% increase on 2024.
Other unrestricted expenditure is closely monitored and we are currently reviewing the utility costs to ensure we get the best deal when our current contracts expire in 2025.
We do not have a formal Reserves Policy but, to protect our cash position, have continued the practice approved by PCC some years ago, that if it was forecast that the bank accounts were likely to fall below £10,000, an instalment of Parish Share would be withheld.
We are not alone and other charities are experiencing reduced numbers of regular donors. The church community (unrestricted funds) is kept going by the income from fees, parish room hire, fundraising and the occasional surplus from the magazine.
As in past years, the PCC recognise that without the continued forbearance of the Diocese the current situation would not be sustainable, given that our income does not allow us to meet both our running costs and our expected contribution to Parish Share.
It is important to record that the repair and maintenance of the church building is heavily dependent on the Friends of All Saints who deserve our sincere thanks; as well as financial support for the Tower Turret work of £40,000.
We would like to thank all those people who continue to support the work of the church through their individual financial contributions, through their time so freely given and through many fundraising efforts – it is all very much appreciated and an important feature of the life of All Saints.
Simon Evans 1st February 2025
3
Indepeode•t ExmiRer's report to the PCC of All SiDts Church. SiplthurJt. Kent for the Year ended 31st December 2024 I reFNt w the m&ees on my examirn ofthe xcounts ofthe Parish Ch ofAll Sairt% Stapkhurx (the Tn) for the year eNled 31 1kceMtr 2024. Ruponglbllllkn and bMl• of report As the chtirity of & TruA )ou we re4xwible for the rParnI1QO of the 145 of the 2011 Act in in8 my eXamin)0n l knve followed all the applicable Direai(MS givefi by the Clwity comrri undtt sedion 14515Mb) of the A¢1. I hair my examin10 I rfirnI Materi mtm have io my attention in ¢1)nnli0n With the ¢xaminauon giviti8 me ¢aux w b¢li¢v¢ in l. lIntir recdS rmx kqA in reswi ofthe Tru 4$ ffquirnl by 130 oftsAL( 2. the a¢¢ounts do xcord reo)rds: or 3. the xcounts do not compl% with applicabk rquirements conccrnin8 thc fomi and conl¢nl of a¢¢ounts SLX in the Charities (Accounls aNI Rew)rts) Re&puJions 2W8 othKr th8n any rtyuiremeni th•t the x¢ots SI a 'trK arnj fair. view which is I have w conttrns And have come raoss no other m¢T5 in connethiffA with the CX8minai3M lo th]Ch allention swd be drawi) in thi5 reFM)rf in order enable I)n801r nc¢d to Contin to fillxl raisi is5$ are sel oirt in detsil in FinMKial Review FinAKid Sl¢meth for yar 31" De¢¢mkn 2024. S.ILPooley BA FCA
Parochial Church Council of All Saints, Staplehurst
Statement of Financial Activities For the year ending 31 December 2024
| Note INCOMING RESOURCES Voluntary income 1(a) Activities for generating funds 1(b) Income from investments 1(c) Church activities 1(d) TOTAL INCOMING RESOURCES RESOURCES EXPENDED Church activities 2(a) Cost of generation vol. income 2(b) Fund-raising trading costs 2(c) TOTAL RESOURCES EXPENDED OTHER RECOGNIZED GAINS & LOSSES Gains/losses on investment assets: on revaluation 4(b) NET MOVEMENT IN FUNDS BALANCES B/FWD 1 JANUARY BALANCES C/FWD 31 DECEMBER NET INCOMING RESOURCES BEFORE |
2024 | 2024 | ||
|---|---|---|---|---|
| Unrestricted Funds £ 30,312 9,052 459 30,561 70,384 68,992 - 32 69,024 1,360 - 1,360 27,716 29,076 |
Designated Funds £ 116,307 - - - 116,307 126,235 - - 126,235 (9,928) - (9,928) 29,112 19,184 |
Endowment Funds £ - - - - |
||
| - | ||||
| - - - |
||||
| - | ||||
| - | ||||
| 1,524 | ||||
| 1,524 9,228 |
||||
| 10,752 |
The notes on pages 8 to 12 form part of this account
5
Parochial Church Council of All Saints, Staplehurst
Balance Sheet as at 31 December 2024
|||Unrestricted
Designated
Endowment
Total
2024
~~|~~|Unrestricted
Designated
Endowment
Total
2024
~~|~~|Unrestricted
Designated
Endowment
Total
2024
~~|~~|Unrestricted
Designated
Endowment
Total
2024
~~|~~|Unrestricted
Designated
Endowment
Total
2024
~~|~~|Unrestricted
Designated
Endowment
Total
2024
~~|~~|Total|
|---|---|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|2024||2023 restated|
||Note||£|£|£|£||£|
|FIXED ASSETS|||||||||
|Tangible|4(a)||-|-|-|-||-|
|Investment|4(b)||-|-|10,752|10,752||9,228|
||||-|-|10,752|10,752||9,228|
|CURRENT ASSETS|||||||||
|Debtors1|5||-|15,233|-|15,233||1,232|
|Short term deposits|||||||||
|PCC|||5,317|-|-|5,317||5,049|
|Cash at bank|||||||||
|PCC accounts|||35,644|3,951|-|39,595||71,083|
||||40,961|19,184|-|60,145||77,364|
|LIABILITIES|||||||||
|Creditors: amounts falling|||||||||
|due in one year1|6||11,885|-|-|11,885||20,536|
|Net current assets / (liabilities)|||29,076|19,184|-|48,260||56,828|
|TOTAL NET ASSETS|||29,076|19,184|10,752|59,012||66,056|
|PARISH FUNDS|||||||||
|Unrestricted|7||29,076|-|-|29,076||27,716|
|Designated|7||-|19,184|-|19,184||29,112|
|Endowment|7||-|-|10,752|10,752||9,228|
||||29,076 |19,184|10,752|59,012||66,056|
1Magazine prepayments were previously included in debtors, but have now been classified as accrued income in creditors. The 2023 figures have been restated for comparitive purposes.
Approved by the Parochial Church Council on 23rd February 2025 and signed on its behalf by:
The notes on pages 8 to 12 form part of this account
6
Parochial Church Council of All Saints, Staplehurst
Notes to the Financial Statements for the year ended 31 December 2024
| Note 1 Incoming Resources 1(a) VOLUNTARY INCOME Planned Giving Donations Tax recovered Collections (open plate) Sundry donations Tower Fund Choir Stalls Fund Golden Bottle Christmas Star Appeal Grants - Friends of All Saints Grants - Newlyn Trust Grants - Churchyard (Restricted) Flowers Choir Charitable donations Other restricted collections for 3rd Parties Miscellaneous income 1(b) ACTIVITIES FOR GENERATING FUNDS Parish Room Fund Raising Social Events 1(c) INCOME FROM INVESTMENTS Interest Trust Income 1(d) INCOME FROM CHURCH ACTIVITIES Magazine PCC Fees TOTAL INCOMING RESOURCES |
2024 | 2024 | ||
|---|---|---|---|---|
| Unrestricted Funds £ 12,341 3,420 2,493 4,959 4,599 2,500 30,312 7,673 1,379 - 9,052 459 - 459 16,606 13,955 30,561 70,384 |
Designated Funds £ 103,890 (1,066) 11,287 575 705 716 200 116,307 - - - 116,307 |
Endowment Funds £ - - - - - |
7
Parochial Church Council of All Saints, Staplehurst
Notes to the Financial Statements for the year ended 31 December 2024
| Unrestricted Note Funds 2 Resources Expended £ 2(a) CHURCH ACTIVITIES Charitable and other designated don 1,108 Diocesan Parish Share1 6,000 Fees paid to Diocese 3,577 Clergy expenses 592 Office costs 2,287 Church utilities 6,474 Church & parish room insurance 6,872 Minor repairs 5,367 Floor & tower project costs Upkeep of Services 559 Churchyard 3,488 Magazine 13,521 Warm Rooms Parish Room 4,655 Salaries 10,508 PAYE & NI 214 Employers' pension 653 Occasional Offices 3,117 Flowers 68,992 2(b) GENERATION OF VOLUNTARY INCOME Planned giving envelopes - - 2(c) FUND RAISING COSTS Fund raising - Social Events 32 32 TOTAL RESOURCES EXPENDED 69,024 |
2024 | 2024 | ||
|---|---|---|---|---|
| Designated Funds £ 237 112,732 13,040 226 126,235 - - 126,235 |
Endowment Funds £ - - - - |
1 Although the Diocese requested a voluntary contribution of £74,999 for 2024, All Saints was only able to pay £6,000.
8
Parochial Church Council of All Saints, Staplehurst
Notes to the Financial Statements for the year ended 31 December 2024
| Note 3 Staff Costs Salaries and wages Employer National Insurance Pensions |
2024 | 2024 | ||
|---|---|---|---|---|
| Unrestricted Funds £ 10,508 214 653 11,375 |
Designated Funds £ - - - - |
Endowment Funds £ - - - - |
Mrs Julia Page the Church Administrator is paid for 15 hours per week. Mrs Jo Foster is paid for 3 hours per week as Cleaner for the Parish Room (and the church toilet)
Two people shared the Organists duties: Mr Robert Chapman, who was paid according to the services played for, and Mr Daniel Brady.
4 Fixed Assets
(4a) Tangible (all unrestricted)
Actual / Deemed Cost
| Cost At 1 January 2024 Additions at cost Disposal At 31 December 2024 Depreciation At 1 January 2024 Charge for the year Disposal At 31 December 2024 Net Book Value At 31 December 2023 At 31 December 2024 |
Freehold land and buildings (See note i) £ - - - - - - - - - - |
Church Total equipment (See note ii) £ £ - - - - - - - - - - - - - - - - - - - - |
|---|---|---|
Note i The Parish Fields and the Parish Rooms are managed by the PCC within their remit but are the assets of the Canterbury Diocesan Board of Finance. Note ii No major purchases were made during the year.
9
Parochial Church Council of All Saints, Staplehurst
Notes to the Financial Statements for the year ended 31 December 2024
| Note 4 Fixed Assets (cont'd) (4b) Investments Market Value 31 December 2023 Purchases at cost Disposals at carrying value Revaluation gain / (loss) Market Value 31 December 2024 |
2024 | 2024 | ||
|---|---|---|---|---|
| Unrestricted Funds £ - - - - - |
Designated Funds £ - - - - - |
Endowment Funds £ 9,228 - - 1,524 10,752 |
Holding at 31 December 2024 465 shares in the Church of England CBF Investment Income Fund
| 5 Debtors Prepayments and accrued interest1 - Other debtors - - 6 Creditors: due within one year Accrued income1 9,555 Accruals2 1,419 Other creditors2 911 11,885 |
- 15,233 15,233 - - - - |
- - - - - - - |
- - 15,233 1,232 15,233 1,232 9,555 9,152 1,419 10,978 911 406 11,885 20,536 |
|---|---|---|---|
1Magazine prepayments were previously included in debtors, but have now been classified as accrued income in creditors. The 2023 figures have been restated for comparitive purposes.
2Previously accruals were included in other creditors, but have now been separated out The 2023 figures have been restated for comparitive purposes.
10
Parochial Church Council of All Saints, Staplehurst
Notes to the Financial Statements
for the year ended 31 December 2024
| Note 7 Funds As at 1st January 2024 Income Expenditure Revaluation As at 31 Dec 2024 Balance held Warm Rooms Choir fund Flowers Candles Christmas Star Poppies Grant from Friends Charity balance figure Churchyard upkeep Capital Projects Total |
2024 | 2024 | ||
|---|---|---|---|---|
| Unrestricted Funds £ 27,716 70,384 (69,024) - |
Designated Funds £ 29,112 116,307 (126,235) - |
Endowment Funds £ 9,228 - - 1,524 |
||
| 29,076 | 19,184 | 10,752 | ||
| 29,076 29,076 |
873 1,080 354 400 162 630 - - 423 15,262 19,184 |
10,752 10,752 |
The Endowment Funds comprise of - Miss Reeves Bequest for the upkeep of the Reeves family grave. This fund is invested in the Church of England CBF Investment Income Shares.
8 Other Notes
1 Charity Sunday receipts are not detailed in these accounts as the PCC is acting as an agent of the charities concerned. Details of the amounts received and passed on to these charities are detailed in the appendices. This analysis shows the difference between in year receipts and payments.
- 2 The funds of the PCC are held in accounts at the Lloyds TSB Bank Cranbrook branch, the NatWest Bank Maidstone branch and the Church of England CBF Deposit Fund.
11