2025-12-31-accounts

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St Nic 9EVEN AKS

Charity number: 1132854

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2025

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

Trustees’ report	1
Independent auditors’ report	14
Statement of financial activities	18
Balance sheet	19
Statement of cashflows	20
Notes to the financial statements	21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The trustees, who are the members of the Parochial Church Council of the Ecclesiastical Parish of St Nicholas, Sevenoaks (“the PCC”) present their annual report together with the financial statements for the year ended 31 December 2025. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and in accordance with the governing document, the Charities Act 2011, the Church Accounting Regulations 2006, and the requirements of "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) - (Charities SORP (FRS 102)).

Objectives and Vision Statement

The PCC has the responsibility of co-operating with the incumbent, the Revd Canon Angus MacLeay, in promoting the whole mission of the church, pastoral, evangelistic, social and ecumenical, in the ecclesiastical parish and beyond.

The PCC, with the St Nicholas Church family has adopted the following Vision Statement to express its objectives, help guide its decision-making and allocate resources to activities which will support and help to fulfil its objectives.

ST NICHOLAS’ VISION STATEMENT

To know Jesus and make Him known locally and globally and so we prayerfully and lovingly proclaim Him in order to Reach, Nurture, Equip and Send for His glory.

Based on this vision statement, the main objectives for the year were to bring glory to God by ensuring that His word continued to be faithfully preached to all congregations at St Nicholas Church; to help members of the church family grow in Christian knowledge and maturity; to provide teaching in God’s word to the children and young people in the church family; to reach out to the wider community in Sevenoaks, in the UK and around the world to proclaim the Gospel of our Lord Jesus Christ and to provide practical support demonstrating our love for our neighbours near and far. As the church invests in “the next generation” we continue to pray for the youth, a desire for more Timothy Scheme volunteers and a heart to work with the Bishop, seeking a Bishop Mission Order or other avenue, praying for people to be sent from St Nicholas.

We operate in the context of what is happening within the Church of England and especially since the publication and commendation of the “Prayers of Love and Faith”. We need to recognise that decisions made either nationally or even at a diocesan level could have a significant effect on how we operate in the future.

One of our distinctives as a whole church family is that our three main morning congregations have many attending of different backgrounds and ages. We are also privileged to have an evening congregation involving young people in our Contact group. As we look to the future, we will especially want to develop this ‘next generation’ aspect of ministry, though we will want to do so in a genuinely multi-generational way, where young and old interact and serve each other. We must ensure that our Vision really does embrace every age group. Having said that, every age group will have an interest in seeking to build the church for the future and therefore each age group will want to welcome a focus on building for the next generation and seeing our ministries amongst children and young people thrive in every way.

As we come to the constituent parts of our Vision it has been helpfully stated that a Vision needs to be articulated in terms of what we want to see and is expressed in what we are praying for. These include:

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

We long to see stronger foundations / deeper roots (nurture)

Stronger foundations, or deeper roots, come through the means of God’s grace i.e. through the Bible, prayer, fellowship and the breaking of bread (Acts 2:42) and these things will be particularly delivered at the congregational level but supported by whole-church initiatives.

Through the Bible being central in our lives: we encourage individual daily Bible reading for adults, young people and children. We also encourage all members of our congregations to join Nurture Groups to study God’s Word together and to encourage one another to put into practice what we learn in the various groups, and to provide support and fellowship in our daily lives.

Through recognising the importance of our monthly prayer gatherings as we live lives in faith that the Lord will provide for all our needs and will build his church here in Sevenoaks through us. Also in believers being involved in prayer triplets as a sign of our dependence on the Lord.

Through a deeper commitment to one another and to the Lord with a higher proportion of believers committed to attending Sunday gatherings more frequently and recognising the importance of weekly attendance in the midst of competing activities on a Sunday.

In 2025 we are blessed with a growing number of adults and children attending our Sunday services, however, we now have space challenges at our StNics@9.15 and StNics@LadyBoswells services which will be reviewed in 2026. The StNics@6 service has also shown significant increase in attendance since the focus on making it more youth orientated and revisions to the music and introduction of monthly suppers for the Contact youth group.

We long to see warmer engagement (broader outreach) (reach)

Warmer engagement with Christ happens as we embrace the grace and truth of Christ. Day to day outreach will spring from individual relationships, but these may also be supported and encouraged by various other initiatives at both congregational and whole-church level.

Through believers having greater confidence to make a difference in their workplaces, neighbourhoods and the local area by being able to articulate and defend their faith within an increasingly hostile culture but also recognising the quiet revival and the increased level of hunger for finding a meaning in life within society. We want to help point as many people as possible to Christ and to be faithful to His calling and the opportunities that He gives us daily.

Through a greater proportion of the whole church family making an active difference to each of our congregations by taking ownership of establishing a strong culture of fellowship and in welcoming new people and families into the life of our different congregations.

Through the clear articulation of the message of Christ and the need for personal commitment through a regular series of courses tailored to this objective such as Christianity Explored, Hope Explored courses and Speak Life/321.

By widening our reach in 2025 we added Alice Shaw to our staff team as a female Youth Minister in this key and growing area of our work. It is our prayer that all within St Nicholas will support Alice in 2026 in youth ministry within St Nicholas. We want to see the youth ministry grow, equipping the next generation to stand for Christ.

We long to see wholehearted service / equipped leaders (equip)

We need to prepare for what a future church may look like for St Nicholas given the shortage of newly ordained ministers coming through college with the result that more roles within St Nicholas are likely to have to be

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

delivered by members of the congregation. We therefore need to equip the church by regular and targeted training initiatives.

In this way we pray for a significant number of people to be trained to lead in our children’s and youth ministries, in areas where we are currently particularly stretched and also for a new generation of leaders being equipped to serve across the church family so that we can resource all leadership roles both in the coming year and on into the future.

We long to see effective partnership to make a wider impact (send)

We are one church with different congregations. We need to ensure that all members of each congregation can benefit from training courses being run. Most will be delivered at a whole-church level. This will also help manage our resources better and avoid duplication between congregations.

Through developing a regular programme for those about to go to university, we aim to see our young people being equipped to stand for Christ as they prepare to leave Sevenoaks and home for the first time to pursue further education.

Through our training model we look to model good discipleship, to send our congregation into their weekday settings where they can be confident and effective in gospel outreach and also to help to recognise and capture gospel opportunity outside routine settings and where we can send people to help gospel work further afield.

Through the development of a new congregation or church plant / graft within the wider Sevenoaks area to gather people and families not currently connected to any church.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Activities

Specific activities carried out in 2025 in pursuit of these objectives are described in the Annual Report which can been found on our website (www.stnicholas-sevenoaks.org). These activities include Nurture Groups, Christianity Explored Courses, Youth meetings and services, live streaming of services, daytime bible study meetings, and care for Ukrainian refugees, toddler groups, church wide and congregational evangelism.

The presentation, monitoring and review of these objectives are directed by the Strategic Planning Group (SPG) and through wider church feedback which will lead to formal resolutions for the PCC to vote and implement using the funds currently ring fenced during the period 2024-2027.

Church activities (and links to Vision)

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Each Sunday we offer five regular services: four in the church building and one in Lady
Boswell’s Primary School. The early service at 8am is a spoken Holy Communion Service.
Nurture/
The other three morning services include worship, music, teaching, children & young
Equip/ Reach
people’s groups. The evening service includes our youth group. Holy communion is offered
at these services monthly. One of our four main services is livestreamed each week.
On the first Sunday of the month and on alternate Wednesdays, we offer a service in two Nurture/
local care homes, including music, worship, prayers and teaching. Reach
Nurture groups, where people study the Bible together and share fellowship and support,
Nurture/
meet across the week in a variety of locations and are arranged via the specific
Equip
congregations.
We run a Bumps & Babies group for those expecting / who have children up to 12 months Nurture/
old and we also offer a Music themed preschool group each week. Reach
We deliver assemblies in our local schools, both primary and secondary, and are involved
Reach
in school worship councils and religious studies delivery.
Our teenagers meet mid-week and on Sundays for both study and fun, sharing meals,
Nurture/
games and outings. The highlight of their year is the summer house parties when they
Equip/ Send
spend time together away from Sevenoaks.
For our more mature members, we offer weekly fellowship groups for our ladies and study Nurture/
sessions/ regular lunches for the men. Equip
Welcoming refugees is important to us, and we offer English conversation practice. One of Nurture/
our Sunday morning services shows a live Ukrainian translation. Reach
Throughout the year, we offer courses open to anyone where there is an opportunity to
Equip/ Reach
explore the Christian faith together with a variety of evangelistic events to share the gospel.
Teaching and training is delivered in small groups. Equip
Weddings and wedding preparation, Funerals and Baptisms are carried out for the church Nurture/
family and those in the local community. Reach
Social events are organised regularly to encourage people to share fellowship, get to know
Nurture
one another and to support one another.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Missionary activity (links to Vision in brackets)

Book Shop

During 2024 and 2025 we reviewed the book ministry with the aim of ensuring that it was modernised and aligned with trends in the method of Christian bookselling, and that it efficiently supports our Vision to Reach, Nurture, Equip and Send. This is ongoing and is likely to make better use of more focused physical stock, electronic bookkeeping and online sales.

Achievements and performance

The Christian faith is a relationship with God and one another, we are called by Jesus to ‘love the Lord your God with all your heart, with all your soul and with all your mind’ and to: ‘Love your neighbour as yourself’. (Mark 22 v37-39). Throughout 2025 church attendance grew across most congregations with some congregations nearing capacity during some weeks of the year. The one exception was 11am where Rev Matt Taylor left in the summer, and different people moved congregations. The overall picture across our congregations was very positive.

The estimated average attendance in 2025, based on counts made on Sundays in October, was 696 (639 in 2024). These figures include adults and children. As of 31 December 2025, there were 489 on the Electoral Roll (2024: 572). The roll was completely renewed in April 2025 and historically numbers fall in the renewal year.

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2024 2025
Average Attendance (Oct) 639 696
Electoral Roll (as of 31 Dec) 572 489
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During 2025 we have continued to support the work of the Rochester Good Stewards Trust (RGST) to fund a youth worker in Wilmington via funds from our Mission fund, but this distribution will stop in 2026 as the RGST is no longer viable as more churches have diverted funds to the Ephesian fund an independent Charitable Incorporated Organisation which enables churches like St Nicholas to ensure that their money is being used for orthodox evangelical ministry to further the gospel.

This year we paid our parish share in full but with the Wider Diocesan Mission contribution paid to the Rochester Diocese via the Ephesian Fund to safeguard our giving. We have been informed by the Diocese this money has been used to help fund the parish share for the following three parishes: St Michael Wilmington, St Peter Bexleyheath and St James Blendon.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Use of the church and undercroft which houses our book room, as well as a suite of meeting rooms were well used throughout 2025 with a mixture of church events and public bookings. We continue to provide grants to our overseas missionaries and are excited to hear stories of those coming to faith through God’s work through them.

Future and ongoing plans

The key challenge for the church family and leadership is to continue to adapt as we see the fruits of our vision bring more people to attend our services. This brings challenges in terms of both physical capacity in our buildings but also the need to increase our giving and serving teams, we are relying on God’s Holy Spirit to be working powerfully in all those who attend, work or are supported, or have leadership position in the church to enable us to see how God wants us to respond.

We are also looking to ramp up training to provide additional support and resources to our Congregational Pastors and the Congregational Leadership Teams. This will better equip them to face the challenges posed within our culture, and to train the church family to articulate the Gospel with accuracy, clarity, grace and compassion.

Working with Diocese, CEEC and The Alliance

2026 will be a key year for discussions around the Prayers of Love and Faith (LLF) and with the new Archbishop of Canterbury. As we seek to align with orthodox ministries, we want to continue to support our Bishop and the wider team in Rochester. The Diocesan vision aligns with the vision of St Nicholas and we look for opportunities for gospel growth through those avenues even though the national landscape is challenging and key decisions will be made in General Synod during 2026.

While LLF has been paused we do not want this to deflect from the reality of what is happening within the Church of England and we do not want to be complacent but to remain faithful and vigilant.

Mission Fund

We prayerfully trust that God will meet the needs in the coming year through the generous giving of the church family. During the year Alex Smith served on a short-term assignment with Crosslinks in Cape Town and then commenced a year on the CARE Programme, Josh Yates completed studies at Oak Hill College and joined Trinity Church York as a trainee minister, Ben Petersen moved from Trinity Church Chester to a role at Christ Church, Headington, Caleb Dodson commenced a year as a trainee on the staff of Lancing Tabernacle Community Church and Emily Walker started training at Oak Hill College. Tabitha von Kaufmann completed her year on the CARE Programme, Issy Pagan finished her ministry training internship at The Bridge Church, Sydney and St John Perry retired from OMF.

The Mission Committee has always been grateful for the provision of funds to support our mission expenditure.

Staff changes

Reverend Nicholas Ross was licensed on the 26 January 2025 by the Bishop of Rochester as an Associate Rector. Abigail Chilton, Communications Manager, resigned at the end of May following her maternity leave. Rev Matt Taylor left at the end of July to take up a new post in Derbyshire. A recruitment process is underway to appoint a replacement.

Emily Walker left having completed her second year of the St Nicholas Timothy Scheme (the Children’s Ministry track). Aaron Fokinther and Makayla Pietersen joined the team as part of the Timothy Scheme in the Ordained Ministry and Youth tracks respectively.

Alice Shaw also joined in November 2025 as a female Youth Minister to enhance our capabilities especially in female discipleship.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Grant making policy

Mission activity is at the heart of St Nicholas. We provide significant support to several mission partners including many who have gone out from our church family. These include individuals and families who have served in Africa, Australia, Italy, Japan, Malaysia and Thailand, these are detailed in the Appendix to the Accounts.

The church’s policies provide for the making of grants to organisations whose activities are an integral part of the overall vision of St Nicholas Church as previously set out. As well as proclaiming the gospel in and around our own church environment, we seek ways of furthering Christ’s mission through various mission initiatives worldwide, in the UK and in the Sevenoaks community. We enjoy strong links with several mission partners. Grants are awarded to organisations and church members working in Christian mission. The task of deciding how to distribute grants for external mission giving is delegated to the Mission Committee.

Grants are awarded to organisations and church members working in mission after an evaluation of each case. All giving follows the church’s mission aim to be wholeheartedly involved in carrying out the Great Commission of the Lord Jesus. Reaching out to God’s world with the good news about Jesus Christ, in line with our vision to know Jesus and make him known, locally and globally.

Public Benefit statement

The PCC is aware of its legal duty to have regard to the public benefit guidance and to report on the charity's compliance with the public benefit obligation. In this regard the PCC is totally committed to enable anyone to worship at St Nicholas’ services together with any of our activities taking place throughout the week. Our services and worship seek to encourage members of the church family to live out their faith as part of the local community and further afield. We seek to achieve this through worship, prayer and the faithful teaching from God's word to support people learning about the Gospel, coming to faith in the Lord Jesus Christ and growing in their knowledge of scripture. With this aim the PCC has adopted the objectives and activities described above.

Financial review

Funds held by St Nicholas PCC

The church's operations and activities are separated into funds that are either restricted (with limitations as to how income can be spent) or unrestricted (the PCC has discretion with respect to expenditure). These funds are explained further below.

Total income received increased in 2025 due to grant claims of £48k, legacies donated of £25k alongside an increase of 5.2% from donations from the church family. Most of the church family give to the work of the church by standing order and we maintain a pattern of one-off givers who give up to 15% of the unrestricted funds. Total income across all funds for 2025 was £1,460,450 (2024: £1,319,161).

The expenditure in 2025 increased in the year as we maintain a strong ministry team and pay the full parish share with £104,080 paid through the Ephesian Fund, expenditure is expected to reduce in 2026 as the repairs to the South Aisle roof have now been complete. Total expenditure before gains/ losses on investments for 2025 was £1,491,678 (2024: £1,431,013). The Balance Sheet shows Tangible assets of £1,608,698 (2024: £1,497,288) following a revaluation of the church properties by an independent Chartered Surveyor see note 12. Total Net Assets increased to £3,181,782 (2024: £3,099,888) whilst Net Current Assets decreased to £1,527,977 (2024: £1,555,615) with cash reserves remaining strong, to be used in line with our vision.

Further details and the break down by fund can be seen below in the financial statements.

Unrestricted Funds:

The General Fund (GF) is used for the day to day running of the church. This includes collecting donations earmarked for general use, and the payment of all salaries and general running expenses. This is the main operating entity of the church.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The Fabric Fund is a savings reserve for large scale capital improvements and quinquennial expenditure for the St Nicholas Church building and grounds. It receives transfers from the GF, usually on an annual basis and incurs expenditure as needs arise.

The Vision Fund was set up in 2022 with the specific aim of Reaching, Nurturing, Equipping & Sending God’s people to proclaim the gospel for His glory. Striving towards our vision as detailed above is one of the key objectives of the PCC and this fund was set up to provide for any specific costs required to help achieve the vision. The plan is that this fund will be used in full by the end of 2027. We are thankful for those in the church who increased their giving after church finance updates. Our aim during 2025,was to use the fund to cater for the new Youth Minister, as the church focus’ on the next generation of believers. The Youth Minister was only appointed in November 2025, so the fund, if only used for the Youth Minister, would last a further year until 2028.

The Strategic Fund has been used to enable the PCC to take on new opportunities ahead of building a new income stream to sustain them. It has been used to provide money towards ministry housing and during 2025 it was used to provide for the repairs for the south aisle church roof along with the installation of solar panels.

Restricted Funds:

Associate Rector House Fund (ARH) This fund was established in 2010 with the sole purpose of collecting gifts for the purchase of a house and for the payment of costs associated with the purchase of such a property. It received regular income until 2022 and received the proceeds from the St Nicholas Parish Hall Trust (PHT). In 2021, 12 Hurst Way was purchased from the proceeds of selling 26 Woodside Road with the remaining funds from that sale held in cash. Planning permission was granted in 2023 with the aim to bring the property to the specification for an Associate Rector with a family. In January 2025, the PCC having received quotes for the work, paused plans to extend the property given the house is fit for use for the current Associate Rector living in the property and the costs to do the building work to extend the property could be greater than the increase in fair market valuation.

The property is held in a custodial trust by the Diocese; all economic benefit will accrue to St Nicholas PCC.

In January 2026 the PCC passed a resolution, subject to an application being submitted to the Charity Commission, to merge the Associate Rector House Fund with the Curate House Fund to create one combined restricted fund to be known as the Ministry Housing Fund, for the benefit of non-clergy ministers as well as clergy. The application to the Charity Commission was sent in February 2026.

Curate’s House Fund reflects the PCC’s interest at the house in South Park. The property is held in a custodial trust by the Diocese, all economic benefit will accrue to St Nicholas PCC. As stated above an application has been submitted to the Charity Commission to merge this fund with the ARH fund.

Mission Fund (MF) collects all donations earmarked for mission activity and allocates expenditure. Income can only be spent on mission activity and there are no operating overheads or ongoing financial commitments. Only income pledged or received in this fund is spent for these purposes.

The Endowment Fund has its own assets, and its income is used to fund the upkeep of the graves. The investments in this fund are all part of the Churchyard and Graves endowment. This is a restricted fund where money has been given to the church with the specific instructions that only the income earned from the money can be spent. They are permanent endowments which require income to be spent on the churchyard, graves, or the general purposes of the PCC. The Endowments are held by the Rochester Diocesan Society and Board of Finance as custodian trustee.

Crisis Appeal Fund collects donations earmarked for use for those suffering as a result of an adversity where there is a connection (either personal or via a relevant organisation) to St Nicholas Church, Sevenoaks. Income

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

of up to £25,000 can be advanced from the General Fund subject to authorised approvals with minimal operating overheads.

2025 Overview:

Unrestricted – General Fund

The voluntary income received in 2025, including gift aid, bank interest, and church activities, was £1,198,667 (2024: £1,083,590).

Total resources used in the General Fund directly relating to work for the church for 2025 were £1,127,789 (2024: £1,040,147). We are very thankful for all gifts large and small for the Gospel work of St Nicholas in Sevenoaks.

Unrestricted - The Fabric Fund

£163,218 was spent in the year on works to repair the South Aisle roof (£102,292) and the replacement of the church organ (£60,926). Unrestricted Income (grants and donations) covered approximately 50% of the cost of replacing the organ. A transfer of £80,319 was made to the fund leaving a balance of £100,000 (2024: £134,934) towards the 2026 quinquennial inspection and other major works required in the future.

Unrestricted - Strategic Reserve

As planned £80,319 was transferred to the Fabric Fund to cover the extra costs in repairing the South Aisle roof leaving a balance of £19,681 to be used in 2026 (2024: £100,000).

Unrestricted – Vision Fund

This fund has started to be used in line with our vision with the employment of a female Youth Minister in November 2025 - £2,087 was used in the year and is expected to be used by the end of 2028.

Restricted - Associate Rector House Fund (ARH)

The fund holds the value of 12 Hurst Way £600,000 (2024: £625,000) and cash reserves of £379,314, totalling £979,314 (2023: £991,880). The property was valued by an independent Chartered Surveyor at £600,000 in January 2026.

Restricted - Curate’s House Fund

The fund holds the value of 40 South Park £1,000,000 (2024: £860,000). The property was valued by an independent Chartered Surveyor at £1,000,000 in January 2026.

Restricted – Mission Fund

The amount that was distributed to our mission partners in 2025 was £196,248 (2024: £235,306). The amount is for the continuing support of individuals and societies to whom we have supported for several years. A list of these grants is shown in the Appendix to the accounts. The fund also includes expenditure of £634 (2024: £536) relating to bank charges and sundry expenses incurred in relation to these grants.

Restricted – Endowment

The income and expenditure in 2025 was £1,306 (2024: £1,275).

Crisis Appeal Fund

Income received including gift aid in 2025 was £4,187 (2024 £7,795) leaving a balance, after bank charges of £31, of £4,156 in the fund.

Investment policy

All funds are either held or invested in low-risk short-term deposits, bank accounts, endowments and properties.

Our short-term deposits are held within the CBF Church of England Deposit Fund and managed by CCLA Investment Management Ltd (CCLA). The fund aims to provide a high level of capital security and a competitive

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

interest rate. It is an actively managed, diversified portfolio of sterling denominated money market deposits and instruments. The Ethical Investment Advisory Group (EIAG) supports the CBF Church of England Funds (managed by CCLA).

EIAG policies are available at: www.churchofengland.org/about/governance/national-church-institutions/ethicalinvestment-advisory-group. Further information and the latest fact sheet for the CBF Church of England Deposit Fund are available at: https://www.ccla.co.uk/funds/cbf-church-england-deposit-fund. The PCC along with the FSG monitor the risk of this fund and are satisfied they meet the PCC risk, sustainability and ethical standards.

Reserves Policy

The charity’s total reserves were £3,181,782 (2024: £3,099,888). The Reserves Policy was reviewed in 2024 and the policy is to maintain a level of reserves in the General Fund which is at least equivalent to six months’ normal expenditure. At the end of 2025 the PCC held free reserves (being the balance on the General Fund less office equipment and fixtures and fittings included in tangible fixed assets) of £842,990 (2024: £768,512). This is £242,990 more than the £600,000 required by the policy. The PCC intends to use the excess reserves towards the costs of its long-term ministry objectives.

Principal risks and uncertainties

Throughout the year the PCC, through the work of its committees – particularly the Risk Management Committee - the churchwardens and designated members of the staff team continued with their systematic risk assessment in Financial, Reputational, Statutory/Legal, Environmental, People, IT and Operational areas, as required by the Diocese. Emma Watson continued to act as Parish Safeguarding Officer in 2025 and was supported by Helen Greig as Deputy Safeguarding Officer. Emma, Helen and our Parish Lead Recruiter, Beverlea Parkhill, have continued to ensure that we adhere to all relevant safeguarding legislation. Close attention is also paid to the implementation of policies regarding health and safety and to compliance with disability discrimination legislation.

The management of risk is of paramount importance to the decision-making of the Rector, the PCC and all risk owners and to the necessary plans and strategies by which the church will achieve its objectives. The PCC maintains an on-going review of risks to the objectives of the church, through the regular discussion of risk issues in its Risk Management sub-committee, the discussion and analysis of risks recorded in the risk register, by the ownership of and accountability for risks by nominated risk owners and by risk issues being included in the dayto-day decision-making and event-planning processes.

The risks with the highest potential impact are those identified in the latest risk register as follows:

Lack of effective planning
Lack of oversight of spiritual leadership
Not adequately monitoring the financial position
Insufficient resources to deliver services
Lack of access or use of the church building
Fire and threat of physical harm
Safeguarding.

These risks are managed and mitigated by:

Agreed and documented vision, aims and objectives; forward-planning of all resources, activities and finances, including an annual budget; regular reporting to the PCC
Regular meetings between the Rector and the Wardens; periodic review by the Bishop of all ordained ministers; regular reporting to the PCC
Regular monitoring by the Treasurer; monthly variance reports on expenditure checked by the Operations Director; regular reporting to the PCC

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Co-ordinated planning for all events; use of rotas for volunteers; regular review of levels of support; training to equip volunteers
Plans for delivery of services on-line; insurance cover in place to cover repairs and damage
Fire risk assessment, training on evacuation and annual evacuation drill;
Regular communication and awareness briefings about safeguarding issues

As a result, the PCC is satisfied that all reasonable steps are being taken to manage the risks to the objectives of the church.

Structure, governance, and management

Registered Charity

The Parochial Church Council of the Ecclesiastical Parish of St Nicholas, Sevenoaks was registered on 21 November 2009 with the Charity Commission, number 1132854.

Location

St Nicholas Church is situated at Rectory Lane, Sevenoaks. It is part of the Diocese of Rochester within the Church of England. The correspondence address is St Nicholas Church, Rectory Lane, Sevenoaks, Kent, TN13 1JA. The activities of the Church take place principally at this location but also at other suitable venues in and around Sevenoaks.

Parochial Church Council (PCC)

The PCC is a corporate body established by the Church of England who have agreed with the Charity Commission that for the purposes of agreeing the governing documents, PCCs are governed by two pieces of legislation: The Parochial Church Council (Powers) Measure 1956 as amended and the Church Representation Rules. The PCC Powers Measures defines the principal purpose of the PCC as promoting in the parish the whole mission of the Church. The PCC was formerly an excepted charity and was registered as a charity from 21 November 2009. PCC members are responsible for making decisions on all matters of general concern and importance to the Parish, including deciding on how the funds of the PCC are to be spent.

Recruitment, induction and training of PCC members

Recruitment to membership of the PCC, whether by election or ‘ex officio’ appointment, is carried out in accordance with the Church Representation Rules. New PCC members receive induction training to ensure they are aware of their responsibilities. The Churchwardens, and others with specific responsibilities for matters requiring specialist knowledge, are able to attend training courses offered by the Diocese or appropriate external bodies. Reading matter on relevant topics is disseminated to PCC members.

Committees

The PCC operates through several committees, listed below, which meet between full meetings of the PCC, under an approved Scheme of Delegation which with the terms of reference for each committee lays down their responsibilities and authority.

Standing Committee (this committee is the only committee required by law, it has power to transact the business of the PCC between its meetings, subject to any directions given by the Council), Strategic Planning Group, Finance Strategy Group, Buildings & Maintenance Committee, Mission Committee, Employment and Remuneration Committee, Fellowship Fund Committee and Risk Management Committee.

The Employment and Remuneration Committee (‘ERC’), as part of its remit, reviews pay and remuneration of all employed staff, including key management personnel as part of the budget preparation in November each year. Following a review by the ERC to assess inflation and other factors (e.g. living wage recommendations), the PCC is notified of these changes in March each year and is asked to ratify any proposed increases in excess of its approved budget.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Reference and administrative information

Membership

Members of the PCC are either ex officio or elected at the Annual Parochial Church Meeting (“APCM”) in accordance with the Church Representation Rules. During the year the following served as members of the PCC:

Incumbent:	The Revd Canon Angus MacLeay+	Chairman
Churchwardens:	Mr Robert von Kaufmann
	Mr Giles Witchell	(to May 2025)
	Mr Mark Walkington	(from May 2025)
Clergy:	The Revd James Read
	The Revd Matthew Taylor *+	(to July 2025)
	The Revd Nicholas Ross *+
Representatives on the
Deanery Synod:	Mr Andrew Coates
	Brig. Ian Dobbie *
	Mr Peter Harlow*
	Mr Anthony Jennings
	Mr Peter Scott
	Mr Leo Sint Nicolaas	to May 2025
	Mrs Diane Mckenzie-Boyle*
Elected Members:	Mr John Collett (Treasurer)
	Mrs Katie David
	Miss Jessica Long
	Mrs Christine Brindley
	Miss Charlotte Barker
	Mr Paul Young	from May 2025
Invited attendees:	Mr John Khnana
	Miss Beverlea Parkhill
PCC Secretary:	Mrs Helen Crusher	to March 2025
	Vacant	from April 2025
	(not a member of the PCC)
Key:	# also a member of General Synod
	* also a representative of Diocesan	Synod
	+ also a representative of Deanery	Synod

The APCM was held on 21 May 2025.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Auditor

WP Audit Services LLP Chartered Accountants and Statutory Auditors North House 198 High Street Tonbridge Kent TN9 1BE

Bankers

National Westminster Bank plc 67 High Street Sevenoaks Kent TN13 1LA

Legal Advisors

Edward Connor Solicitors 10 The Point Market Harborough Leicestershire LE16 7QU

Statement of trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales required 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 applicable of resources of the charity for that period. In preparing those financial statements the trustees are required to:

Select suitable accounting policies and then apply them consistently;
Observe the methods and principles of the Charities SORP (FRS 102);
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible 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 Parochial Church Council on 29 April 2026 and signed on its behalf by:

Revd Canon Angus MacLeay Chairman

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

FOR THE YEAR ENDED 31 DECEMBER 2025

Opinion

We have audited the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St. Nicholas, Sevenoaks (the ‘charity’) for the year ended 31 December 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charity’s affairs as at 31 December 2025 and of its incoming resources and application of resources for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

FOR THE YEAR ENDED 31 DECEMBER 2025

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We obtained an understanding of the legal and regulatory framework applicable to the preparation of the financial statements of the charity, and the procedures that management adopt to ensure compliance. We have considered the extent to which non-compliance might have a material effect on the financial statements, and in particular we identified: the Charities Act 2011, the Charities SORP, FRS 102 and the Church Accounting Regulations 2006.

We have also identified other laws and regulations that do not have a direct effect on the amounts or disclosures within the financial statements, but for which compliance is fundamental to the charity’s operations and to avoid material penalties, including General Data Protection Regulation and safeguarding of vulnerable people, including children.

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

FOR THE YEAR ENDED 31 DECEMBER 2025

Having reviewed the laws and regulations applicable to the charity, we designed and performed audit procedures to obtain sufficient appropriate audit evidence. Specifically, we:

Selected a team of experience of charity and not-for-profit organisations to perform the audit;
Obtained an understanding of the charity’s procedures for ensuring compliance with laws and regulations;
Obtained and reviewed internal policy and procedure documents;
Made enquiries of management and the trustees regarding whether they were aware of any actual or suspected incidences of non-compliance with laws and regulations;
Obtained and reviewed meeting minutes;
Confirmed that relevant staff had DBS checks in place;
Reviewed legal expenses accounts for indications of possible non-compliance; and
Reviewed the completeness and accuracy of any disclosures made in the financial statements.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including considering how fraud might occur. This was performed by:

Making an assessment of the charity’s control environment, systems and controls, including identifying any weaknesses and considering the risk of management override of controls;
Considering whether there are any incentives or opportunities for management to manipulate financial results;
Obtaining and evaluating the trustees’ assessment of the risk of fraud, and enquiring as to whether they are aware of any actual or suspected incidences of fraud;
Reviewing the accounting policies and accounting estimates, such as the valuation of freehold properties, for signs of management bias; and
Identifying key risks relating to irregularities as relating to revenue recognition and cut-off, grant payments made to overseas organisations and the revaluation of freehold properties.

We then designed audit procedures in response to the risks identified, including performance of substantive testing on income, revaluation of fixed assets and grant payments.

The audit has been planned and performed in accordance with auditing standards, however, because of the inherent limitations of audit procedures there remains a risk that we will not detect all irregularities, including those that may lead to material misstatements in the financial statements. There are inherent difficulties in detecting irregularities, and irregularities that result from fraud may be more difficult to detect than irregularities that result from error, for example due to concealment, override of controls, collusion or misrepresentations.

In addition, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less audit procedures are able to identify it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

FOR THE YEAR ENDED 31 DECEMBER 2025

Use of our report

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 audit 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 auditor’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 audit work, for this report, or for the opinions we have formed.

WP Audit Services LLP

Statutory Auditor North House 198 High Street Tonbridge Kent TN9 1BE

Date: 1 May 2026

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

----- Start of picture text -----
Unrestricted Restricted Endowment Total Total
funds funds funds funds funds
2025 2025 2025 2025 2024
£ £ £ £ £
Note
Income from:
Donations and legacies 4 1,137,450 197,210 - 1,334,660 1,194,635
Charitable activities 5 74,069 - - 74,069 59,232
Investments - interest 6 35,123 15,292 1,306 51,721 65,294
Total income 1,246,642 212,502 1,306 1,460,450 1,319,161
Expenditure on:
Raising funds 7 8,006 - - 8,006 9,918
Charitable activities 8 1,285,088 197,278 1,306 1,483,672 1,421,095
Total expenditure 1,293,094 197,278 1,306 1,491,678 1,431,013
Net (losses) / gains on 13 - - ( 1,878) ( 1,878) 1,051
investments
Net expenditure ( 46,452) 15,224 ( 1,878) ( 33,106) ( 110,801)
Gains on revaluation of fixed 12 - 115,000 - 115,000 52,000
assets
Net movement in funds ( 46,452) 130,224 ( 1,878) 81,894 ( 58,801)
Reconciliation of funds:
Total funds brought forward 1,135,734 1,917,169 46,985 3,099,888 3,158,689
Total funds carried forward 16 1,089,282 2,047,393 45,107 3,181,782 3,099,888
----- End of picture text -----

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

BALANCE SHEET AS AT 31 DECEMBER 2025

----- Start of picture text -----
2025 2024
£ £ £ £
Note
Fixed assets
Tangible assets 12 1,608,698 1,497,288
Investments 13 45,107 46,985
1,653,805 1,544,273
Current assets
Stock 6,989 7,648
Debtors 14 114,237 126,197
Short-term deposits 1,088,809 1,088,809
Cash at bank and in hand 375,757 421,736
1,585,792 1,644,390
Creditors: amounts falling due within one year 15 ( 57,815) ( 88,775)
Net current assets 1,527,977 1,555,615
Total net assets 3,181,782 3,099,888
Charity funds
Unrestricted funds 1,089,282 1,135,734
Restricted funds 2,047,393 1,917,169
Endowment funds 45,107 46,985
Total funds 16 3,181,782 3,099,888
----- End of picture text -----

The financial statements were approved by the Parochial Church Council on 29 April 2026 and signed on their behalf by:

Mr John Collett Treasurer

Revd Canon Angus MacLeay Chairman

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

----- Start of picture text -----
2025 2024
£ £ £ £
Note
Cash flows from operating activities:
Net cash used in operating activities A ( 97,700) ( 174,192)
Cash flows from investing activities:
Interest received 51,721 65,294
-
Acquisition of tangible fixed assets ( 11,016)
Net cash provided by investing activities 51,721 54,278
Change in cash and cash equivalents ( 45,979) ( 119,914)
Cash and cash equivalents at the beginning of the year
Short-term deposits 1,088,809 1,088,809
Cash at bank and in hand 421,736 541,650
1,510,545 1,630,459
Cash and cash equivalents at the end of the year
Short-term deposits 1,088,809 1,088,809
Cash at bank and in hand 375,757 421,736
1,464,566 1,510,545
A. Reconciliation of net income to net cash flow used in operating activities
2025 2025 2024 2024
£ £ £ £
Net expenditure for the year ( 33,106) ( 110,801)
As per the Statement of Financial Activities
Adjustments for:
Net losses / (gains) on investments 1,878 ( 1,051)
Depreciation 3,590 3,590
Interest received ( 51,721) ( 65,294)
Decrease in stocks 659 85
Decrease / (increase) in debtors 11,960 ( 51,298)
(Decrease) / increase in creditors ( 30,960) 50,577
( 64,594) ( 63,391)
Net cash used in operating activities ( 97,700) ( 174,192)
----- End of picture text -----

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

1 Status

The Parochial Church Council Of The Ecclesiastical Parish Of St. Nicholas, Sevenoaks ("PCC") is a body corporate under the terms of the Parochial Church Council Powers Measure 1956 and a charity subject to the Charities Act 2011 (registered number: 1132854). The address of the registered office is St. Nicholas Church, Rectory Lane, Sevenoaks, TN13 1JA.

2 Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

2.1 Basis of preparation

The financial statements have been prepared in accordance with "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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of Church groups that owe their affiliation to another body, nor those which are informal gatherings of Church members.

The Church 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 notes.

The members of the PCC consider that there are no material uncertainties about the Church's ability to continue as a going concern and therefore the going concern basis of accounting has been adopted.

The financial statements are presented in pounds sterling and rounded to the nearest pound.

2.2 Income

Income is recognised when the PCC has entitlement to the income, it is probable that the income will be received and the amount can be measured reliably.

For donations, this is usually on receipt. For grants, this is on receipt of a written agreement or offer unless there are terms and conditions outside the PCC's control, or time-related conditions which limit the recognition of income.

For legacies, the "probable" criterion is considered met once there has been a grant of probate, the executors have established that there are sufficient assets in the estate, after settling any liabilities, to pay the legacy, and any conditions attached to the legacy are either within the PCC's control or have been met.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

2 Accounting policies continued

Income from PCC's activities or fundraising event is recognised when the activity or event takes place. Sale of goods is accounted for at the point of sale.

Income from investments is recognised in the period in which it relates if all the income criteria has been met.

2.3 Expenditure

Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably.

Expenditure has been classified under headings that aggregate all costs related to the category and includes VAT. Grants received for VAT under the Listed Places of Worship Grants Scheme are accounted for as income using the recognition criteria described above.

Grants payable are recognised as liabilities when communicated in writing to the recipient, except where the offer is conditional and fulfilment of the conditions is not considered probable, or where meeting the conditions is not within the control of the recipient. In these circumstances, the grant is recognised when the conditions have been met. Commitments for performance related grants are recognised to the extent that the performance related criteria are met. The expenditure on charitable activities includes supporting mission and mission-related activity, mainly outside the parish, allocated at the discretion of the Mission Committee.

Direct costs are allocated to the activity to which they relate. Where direct costs such as staff costs are shared between more than one activity, they are apportioned between the activities.

Support costs are allocated to the cost of raising funds based on the ratio of the direct costs of raising funds compared to total direct costs, in order to reflect usage.

No support costs have been allocated to the Mission activity on the basis that the activity is delivered almost entirely by volunteers and the activity makes minimal use of the church premises and other overheads, and therefore any allocation would be immaterial.

The majority of support costs are therefore incurred in order to facilitate the delivery of Church activities.

Governance costs are those costs incurred in connection with the administration of the Church and the compliance with constitutional and statutory requirements.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

2 Accounting policies continued

2.4 Fund accounting

Unrestricted funds can be used for the charitable objectives at the discretion of the PCC. Unrestricted funds included designated funds which have been set aside by the PCC for specific purposes.

Restricted funds arise when the donor specifies a purpose narrower than the general charitable objects of the Church, or when funds are raised for such a purpose.

Endowment funds are gifted to the charity but cannot be spent. The capital is held in investments, and the income generated is available for use by the charity.

2.5 Tangible fixed assets

(i) Consecrated land and buildings and movable Church furnishings

Consecrated and beneficed property is excluded from the accounts by section 10(2) to (4) of the Charities Act 2011.

No value is placed on moveable Church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable Church furnishings whether on maintenance or improvement is written off as expenditure in the statement of financial activities.

(ii) Other land and buildings

The Church has adopted a policy of revaluation in respect of its freehold property. Professional valuations are conducted on a regular basis, with reviews carried out by the PCC in intervening years to assess whether fair value materially differs from the carrying value at the balance sheet date. Revaluation changes are recognised in the statement of financial activities.

Depreciation is not provided on freehold land. In respect of freehold buildings, the PCC considers that any charge would not be material given the long useful life, high residual value, and frequent revaluation adjustments.

(iii) Fixtures, fittings and office equipment

Equipment used within the Church premises is depreciated on a straight-line basis over 4 years. Individual items of equipment with a purchase price of less than £2,000 are written off in the period in which the asset is acquired.

(iv) Impairment

If the PCC identifies indicators of impairment, a review is undertaken and appropriate provision made for any permanent diminution in value.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

2 Accounting policies continued

2.6 Investments

Fixed asset investments are initially recognised at their transaction cost and are subsequently measured at fair value at each reporting date, with changes in fair value recognised in the statement of financial activities.

2.7 Financial instruments

Financial instruments other than investments qualify as basic financial instruments. Short-term debtors and creditors are measured at the settlement value less provision for any impairment. Any losses from impairment are recognised in the statement of financial activities.

Long-term funding commitments are discounted when the discounting is considered to be material.

2.8 Pensions

The Church participates in the Pension Builder Scheme section of the Church Workers Pension Fund (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. It has a section known as Pension Builder 2014 which is described below.

Pension Builder 2014 Scheme

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.

An actuarial valuation of the Pension Builder 2014 (PB 14) Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022 with the next valuation due as at 31 December 2025. The valuation in respect of the PB 14 is carried out on three bases with the valuations listed below. The valuations show there is no requirement for deficit payments at the current time. For further information you can read the full actuarial report by going to:

https://www.churchofengland.org/sites/default/files/2024-01/pb-2014-actuarial-valuation-report-31-dec-2023.pdf

The legal structure of the scheme is such that if another employer fails, the PCC could become responsible for paying a share of that employer’s pension liabilities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

2 Accounting policies continued

PB 14 Valuation as at 31/12/2022	Assets	Liabilities	Surplus
Funding Basis	£49.5m	£41.0m	£8.5m
Security Basis	£49.5m	£29.2m	£20.3m
Accrued Pools Basis	£49.5m	£47.1m	£2.4m

The PCC is also registered with The Pensions Regulator, for non clergy word ministry staff, it pays 15% of basic gross salary to their pension provider and for administration staff matches their pension contributions up to a maximum of 7% of basic gross salary, these are accounted for on the basis of contributions payable in the year. The PCC therefore has no liability for final pensions provision for its staff.

3 Judgements and key sources of estimation uncertainty

In the application of the Church's accounting policies, the PCC are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The key accounting estimate having a significant risk of causing a material adjustment to the carrying amount of assets and liabilities is the valuation of freehold property. Due to the value of the assets held and the policy of revaluation in place, even small percentage changes in value could have a material impact on the financial statements. The PCC mitigate this risk by commissioning valuations on a regular basis from suitably qualified independent advisers, and reviewing available evidence such as comparable sales and property price indices in the intervening years.

4 Income from donations and legacies Donations eligible for Gift aid Gift Aid recovered Other donations Cash collections Grants Legacies	Unrestricted 2025 £ 585,534 147,007 326,185 6,199 47,965 25,000 1,137,890	Restricted 2025 £ 127,905 31,699 37,166 - - - 196,770	Total 2025 £ 713,439 178,706 363,351 6,199 47,965 25,000 1,334,660	Total 2024 £ 657,229 164,589 366,093 6,464 260 - 1,194,635

In the preceding period, unrestricted income from donations and legacies was £979,613 and restricted income from donations and legacies was £215,022.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

5 Income from charitable activities

Fees and hire income Book shop sales Contributions to houseparties Contributions to outreach events	2025 £ 10,550 7,518 30,799 25,202 74,069	2024 £ 16,769 9,217 24,015 9,231 59,232

6 Income from investments - interest

In the preceding period, restricted income from investments was £19,274 and £1,275 was in relation to the endowment fund.

7 Expenditure on raising funds

Staff costs: Raising funds Support costs allocated 9	2025 £ 5,253 2,753 8,006	2024 £ 6,312 3,606 9,918

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

8 Expenditure on charitable activities

Staff costs: Direct Other direct costs: Trading purchases and expenses Diocesan quota Ephesian Fund Clergy expenses Clergy housing Houseparties Services and outreach Outreach events Grants payable: Missionary societies Home missions / UK agencies Support costs allocated 9	Missionary 2025 £ - - - - - - - - - 196,248 7,534 - 203,782	Church activities 2025 £ 316,920 11,227 187,780 104,080 6,842 48,222 31,005 32,853 30,751 - - 510,210 1,279,890	Total 2025 £ 316,920 11,227 187,780 104,080 6,842 48,222 31,005 32,853 30,751 196,248 7,534 510,210 1,483,672	Total 2024 £ 276,060 11,486 182,727 56,531 9,875 53,201 32,315 31,519 6,883 235,306 8,498 516,694 1,421,095

In the preceding period, expenditure of £240,925 was applied to restricted funds and expenditure of £1,275 was applied to the endowment fund.

Please refer to the Appendix for full details of missionary grants payable.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

9 Support costs Staff costs: Administration Training Ministry trainees Pastoral care Church running expenses Church maintenance Furniture and fittings expenses Fabric and special projects Beech Road property costs Depreciation Technical support Printing and stationery Office expenses Sundry expenses Bank charges Governance costs: PCC expenses Audit fees Professional fees 10 Net movement in funds This is stated after charging: Auditor's fees - for audit services Auditor's fees - for other services Depreciation Operating lease rentals	2025 £ 112,263 6,903 22,440 8,460 68,933 24,200 3,145 200,943 10,796 3,590 27,296 3,270 4,976 246 3,803 ( 500) 8,800 3,399 512,963 2025 £ 8,590 210 3,590 42,700	2024 £ 138,620 6,024 22,572 9,421 81,740 16,040 2,676 157,930 20,165 3,590 30,217 2,713 8,821 2,541 2,158 525 10,848 3,699 520,300 2024 £ 8,698 2,150 3,590 26,880

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

11 Staff costs Staff costs comprise: Gross salaries Employer's NIC Employer's pension contributions Expenses and housing costs	2025 £ 293,533 26,562 32,305 82,036 434,436	2024 £ 294,851 26,111 28,981 71,049 420,992

The average number of PCC employees during the year, calculated on a full-time equivalent basis, was 12 (2024: 12). No employee received emoluments in excess of £60,000 (2024: None).

12 Tangible fixed assets Cost or valuation: At 1 January 2025 Disposals Revaluations At 31 December 2025 Depreciation: At 1 January 2025 Charge for the year Eliminated on disposal At 31 December 2025 Net book value: At 31 December 2025 At 31 December 2024	Freehold property £ 1,485,000 - 115,000 1,600,000 - - - - 1,600,000 1,485,000	Office equipment £ 37,815 ( 3,074) - 34,741 33,647 3,010 ( 3,074) 33,583 1,158 4,168	Fixtures & fittings £ 52,610 - - 52,610 44,490 580 - 45,070 7,540 8,120	Total £ 1,575,425 ( 3,074) 115,000 1,687,351 78,137 3,590 ( 3,074) 78,653 1,608,698 1,497,288

The freehold land and buildings comprise a property located at 40 South Park and a property located at 12 Hurst Way, both in Sevenoaks, Kent. The historic cost for both properties is £711,000 (2024: £711,000). The latest professional revaluation for both properties was conducted on the 27 Januaury 2026 by an independent Chartered Surveyor on the assumption of vacant possession and prepared in accordance with the International Valuation Standards and the RICS Valuation – Global Standards, effective 31st January 2022. With 40 South Park valued at £1 million and 12 Hurst Way at £600,000.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

13 Investments

At 1 January 2025 Unrealised change in market value At 31 December 2025	2025 £ 46,985 ( 1,878) 45,107	2024 £ 45,934 1,051 46,985

The historical cost of the investments is £1,394. All the investments are with the Central Board of Finance of the Church of England and are in the United Kingdom. These investments are the asset of the permanent endowment fund.

14 Debtors

Gift Aid receivable Prepayments and accrued income Other debtors Creditors: amounts falling due within one year Trade creditors Accruals Tax and social security Other creditors	2025 £ 71,624 35,864 6,749 114,237 2025 £ 8,616 26,959 9,990 12,250 57,815	2024 £ 45,965 80,232 - 126,197 2024 £ 18,412 58,158 5,605 6,600 88,775

15 Creditors: amounts falling due within one year

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

16 Statement of movement in funds *Current period - 2025* Unrestricted funds: General fund Designated funds: Fabric fund Strategic reserve Vision fund Total unrestricted funds Restricted funds: Mission fund Curate's House fund Associate Rector's House fund Crisis Appeal fund Total restricted funds Endowment funds: General, churchyard & graves Total funds	Brought forward £ 780,800 134,934 100,000 120,000 1,135,734 65,289 860,000 991,880 - 1,917,169 46,985 3,099,888	Net movement £ 70,888 ( 115,253) - ( 2,087) ( 46,452) ( 1,366) 140,000 ( 12,566) 4,156 130,224 ( 1,878) 81,894	Transfers £ - 80,319 ( 80,319) - - - - - - - - -	Carried forward £ 851,688 100,000 19,681 117,913 1,089,282 63,923 1,000,000 979,314 4,156 2,047,393 45,107 3,181,782

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

16 Statement of movement in funds continued Brought forward £ *Prior period - 2024* Unrestricted funds: General fund 748,955 Designated funds: Fabric fund 263,600 Strategic reserve 100,000 Vision fund 120,000 Total unrestricted funds 1,232,555 Restricted funds: Mission fund 89,789 Curate's House fund 833,000 Associate Rector's House fund 956,779 Crisis Appeal fund 632 Total restricted funds 1,880,200 Endowment funds: General, churchyard & graves 45,934 Total funds 3,158,689	Net movement £ 43,443 ( 148,666) - - ( 105,223) ( 24,500) 27,000 35,101 7,770 45,371 1,051 ( 58,801)	Transfers £ ( 11,598) 20,000 - - 8,402 - - - ( 8,402) ( 8,402) - -	Carried forward £ 780,800 134,934 100,000 120,000 1,135,734 65,289 860,000 991,880 - 1,917,169 46,985 3,099,888

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

16 Statement of movement in funds continued Net movement comprises: Income £ *Current period - 2025* Unrestricted funds: General fund 1,198,677 Designated funds: Fabric fund 47,965 Strategic reserve - Vision fund - Total unrestricted funds 1,246,642 Restricted funds: Mission fund 195,516 Curate's House fund - Associate Rector's House fund 12,799 Crisis Appeal fund 4,187 Total restricted funds 212,502 Endowment funds: General, churchyard & graves 1,306 Total funds 1,460,450	£ ( 1,127,789) ( 163,218) - ( 2,087) ( 1,293,094) ( 196,882) - ( 365) ( 31) ( 197,278) ( 1,306) ( 1,491,678) Expenditure	Gains / (losses) £ - - - - - - 140,000 ( 25,000) - 115,000 ( 1,878) 113,122	Total £ 70,888 ( 115,253) - ( 2,087) ( 46,452) ( 1,366) 140,000 ( 12,566) 4,156 130,224 ( 1,878) 81,894

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

16 Statement of movement in funds continued Income £ *Prior period - 2024* Unrestricted funds: General fund 1,083,590 Designated funds: Fabric fund - Strategic reserve - Vision fund - Total unrestricted funds 1,083,590 Restricted funds: Mission fund 211,342 Curate's House fund - Associate Rector's House fund 15,159 Crisis Appeal fund 7,795 Total restricted funds 234,296 Endowment funds: General, churchyard & graves 1,275 Total funds 1,319,161	£ ( 1,040,147) ( 148,666) - - ( 1,188,813) ( 235,842) - ( 5,058) ( 25) ( 240,925) ( 1,275) ( 1,431,013) Expenditure	Gains / (losses) £ - - - - - - 27,000 25,000 - 52,000 1,051 53,051	Total £ 43,443 ( 148,666) - - ( 105,223) ( 24,500) 27,000 35,101 7,770 45,371 1,051 ( 58,801)

Details of material funds are as follows:

Fabric fund

This fund is used for large capital items and major refurbishment work to the Church and its grounds. Such work mainly arises from quinquennial inspections, and the aim is to build up sufficient funds over a five-year period to cover the costs arising from such inspections.

Strategic reserve

This fund had been used to enable the PCC to take on new opportunities ahead of building a new income stream to sustain them. The fund had been used to provide money towards ministry housing but during 2025 it was used to provide for the repairs for the South Aisle Church Roof as represented by the transfer of £80,319 from this fund to the Fabric fund. The balance of the fund, if not required in 2026, will be transferred to the Vision fund.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

16 Statement of movement in funds continued

Vision fund

This fund was set up in 2021 with the specific aim to consider how the church can better reach, nurture, equip & send God’s people to proclaim the gospel for His glory. Striving towards our vision as detailed further in our Trustee report is one of the key objectives of the PCC and this fund was set up to facilitate against any costs required to help achieve the vision. The plan is that this fund will be used in full by the end of 2028. Further fundraising may be needed as new resolutions are voted upon by the PCC.

Mission fund

This fund is specifically for supporting mission and mission-related activity, mainly outside the parish. Gifts to the fund are allocated at the discretion of the Mission Committee unless the donor expresses a wish that their gift be given to a particular missionary or mission activity.

Curate's House fund

This represents the current value of the property at 40 South Park that was acquired by the PCC in 1989 from proceeds of the sale of a previous property and funds raised specifically to acquire the new property.

Associate Rector's House fund

This fund was set up to purchase a house for the person occupying the post of Associate Rector.

On 26 February 2026, the charity has requested to the Charities Commission that the usage of the Associate Rectors’ House Fund and Curate’s House fund is to be merged into a single ‘Ministry Housing Fund’ which will enable the church to provide accommodation for both clergy and staff who are in a ministry role.

Crisis Appeal fund

This fund collects donations earmarked for use for those suffering as a result of an adversity where there is a connection (either personal or via a relevant organisation) to St Nicholas Church, Sevenoaks. Income of up to £25,000 can be advanced from the General Fund subject to authorised approvals and there are no operating overheads or ongoing financial commitments.

Endowment fund

This represent a permanent endowment given to the Church with the specific instructions that only the income earned from the money can be spent, or an asset donated to be retained, for continuing use by the Church. There are four separate funds which require income to be spent on the Churchyard, graves or the general purposes of the PCC.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

17 Analysis of net assets between funds

*Current period - 2025* Tangible assets Investments Net current assets *Preceding period - 2024* Tangible assets Investments Net current assets	£ 8,698 - 1,080,584 1,089,282 £ 12,288 - 1,123,446 1,135,734 Unrestricted Unrestricted	Restricted £ 1,600,000 - 447,393 2,047,393 Restricted £ 1,485,000 - 432,169 1,917,169	£ - 45,107 - 45,107 £ - 46,985 - 46,985 Endowment Endowment	Total £ 1,608,698 45,107 1,527,977 3,181,782 Total £ 1,497,288 46,985 1,555,615 3,099,888

18 Operating lease commitments

At 31 December 2025 the Church was committed to future minimum lease payments under non-cancellable operating leases as follows:

Land and buildings: Due within one year In two to five years	2025 £ 43,380 81,360 124,740	2024 £ 21,720 51,000 72,720

19 Capital commitments

At 31 December 2025 the charity had no capital commitments (2024: £104,035).

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

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

20 Related party transactions

The key management personnel of the charity are considered to be the incumbent, the Churchwardens and the Operations Director.

The total amount of employee benefits received by key management personnel during the year, including Employer's National Insurance and pension, was £56,322 (2024: £61,095).

The clergy and the incumbent (as listed on page 10) are members of the PCC but also received accommodation related benefits in the year totalling £25,102 (2024: £29,946).

In the current period and in the prior period no trustees received reimbursement for expenses.

Neither the trustees, nor any person connected with them, received any remuneration or benefits in respect of their role as a trustee in the current nor preceding period.

During the year, 22 members of the PCC and their close family (2024: 21), donated £121,500 (2024: £194,400) to the PCC, of which £27,950 (2024: £23,428) were restricted donations.

During the year, a total of £nil (2024: £13,958) was paid to Planned Premises Management, a business owed by a close family relative of a member of key management personnel, in relation to repair and maintenance work. Nothing was due at the balance sheet date (2024: £2,453).

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

APPENDIX: GRANTS PAYABLE (MISSION FUND) FOR THE YEAR ENDED 31 DECEMBER 2025

----- Start of picture text -----
2025 2024
£ £
A Passion for Life 5,000 -
A Rocha International - 1,020
A Rocha UK - 1,020
AIM Hannah Jackson 8,400 11,508
AIM Paul and Helen Shepherd 12,748 12,748
AMiE 500 500
Anglican Mainstream 1,100 1,100
ANiE 3,000 5,000
C of E Evangelical Council 5,000 5,000
CARE Alex Smith 1,500 -
CARE Tabitha von Kaufmann - 2,500
Christianity Explored 2,000 2,000
Church by the Bay Ben Petersen - 2,500
Crosslinks Alex Smith - 3,250
Crosslinks Mark Oden 16,000 16,000
Diocese of Rochester Diocese of Kondoa (Tanzania) 2,000 2,000
EFAC Julia Cameron 7,500 7,500
Gafcon GB & Europe 2,000 2,000
Great Truths Ben Dean 3,000 5,000
ITLC George McIlroy - 1,100
Japan Christian Link Philip & Sunny Glass 20,000 20,000
Japan Christian Link Selvan Anketell 8,400 8,400
Keswick Ministries 5,000 5,000
Lancing Tabernacle Community Church Caleb Dodson 1,000 -
Langham Trust 2,000 2,000
London City Mission 3,000 5,000
Mission visits Sam Allberry - 1,000
Mullers Janet Phythian 4,000 4,360
-
Oak Hill College Emily Walker 2,000
Oak Hill College Joshua Yates - 5,000
OMF Kathryn Bowen 17,600 17,600
OMF StJohn Perry 14,200 28,400
OMF Tony Waghorn 3,300 3,300
Penny Trust Pete Portal 1,000 1,000
Proclamation Trust 2,000 2,000
ReNew Conference 5,000 5,000
Rochester Good Stewards Trust St Michael and All Angels Wilmington 12,500 12,500
Sevenoaks Area Youth Trust 8,000 8,000
SIM Emma Brewster 8,000 8,000
-
The Bridge Church Issy Pagan 6,000
The Faith Mission Arabella Paul 2,000 2,000
Thetford Team Ministry Susanna Bratby 3,000 5,000
Trinity Chester Ben Petersen 2,000 4,000
Trinity Church York Josh Yates 2,500 -
196,248 235,306
----- End of picture text -----

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

CONTENTS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Objectives and Vision Statement

ST NICHOLAS’ VISION STATEMENT

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

We long to see stronger foundations / deeper roots (nurture)

We long to see warmer engagement (broader outreach) (reach)

We long to see wholehearted service / equipped leaders (equip)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

We long to see effective partnership to make a wider impact (send)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Activities

Church activities (and links to Vision)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Missionary activity (links to Vision in brackets)

Book Shop

Achievements and performance

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Future and ongoing plans

Working with Diocese, CEEC and The Alliance

Mission Fund

Staff changes

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Grant making policy

Public Benefit statement

Financial review

Funds held by St Nicholas PCC

Unrestricted Funds:

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Restricted Funds:

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

2025 Overview:

Unrestricted – General Fund

Unrestricted - The Fabric Fund

Unrestricted - Strategic Reserve

Unrestricted – Vision Fund

Restricted - Associate Rector House Fund (ARH)

Restricted - Curate’s House Fund

Restricted – Mission Fund

Restricted – Endowment

Crisis Appeal Fund

Investment policy

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Reserves Policy

Principal risks and uncertainties

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Structure, governance, and management

Registered Charity

Location

Parochial Church Council (PCC)

Recruitment, induction and training of PCC members

Committees

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Reference and administrative information

Membership

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Auditor

Bankers

Legal Advisors

Statement of trustees’ responsibilities

Revd Canon Angus MacLeay Chairman

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

FOR THE YEAR ENDED 31 DECEMBER 2025

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

FOR THE YEAR ENDED 31 DECEMBER 2025

Matters on which we are required to report by exception

Responsibilities of trustees

Auditor’s responsibilities for the audit of the financial statements

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

FOR THE YEAR ENDED 31 DECEMBER 2025

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. NICHOLAS, SEVENOAKS

FOR THE YEAR ENDED 31 DECEMBER 2025

Use of our report

WP Audit Services LLP