THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIATICAL PARISH OF ST OLAVE WITH ST GILES, YORK (registered charity no. 1132855] ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 HPH Chartered Accountants 54 Bootham YORK Y030 7XZ THE PAROCHIAL CHURCH COUNCIL OF THE EECLESJATICAL PARISH OF ST OLAVE WITH ST GILES. YORK ANNUAL REPORT AND FINANCIAL sfATEMENTS FOR THE VEARENDED 31 DECEMBER 2024 CONTENTS Page[s} Annual Reportof the Parochial Church Council Ito7 Independent Examiner'5 Report Statement of Financial Activities Balance Sheet io Notes to the Finanaal Statements Ilto19 THE PAROCHIAL CHURCH COUNCILOF THE ECCLESIASTICAL PARISH OF ST OLAVE WITH ST GILES, YORK ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024 The Parochial Church Council ("the PCC") has pleasure in presenting its Report together with the Financial Statements for the yearended 31 December2024. The financial statenients have been prepared in accordance with the accounting policies set out in the notes to the financial statetnents and comply with the Charity's governing document, the Charities Act 2011, Accountingand Repurting bychariries.. St2tementufRecomniended Practice2pplicable to charitie5 prepariiig their financial statements in accordance with the Financial Reporting Standard applicable in thL. IJK and Republic of Ireland (FRS 102J (ettective l January 2019). the Financial Reporting Standard applicable in the United Kingdnrn and Re_public. of 1re.land [FRS 102). and IJK Generally Accppted Practice as it applies from I lanuary 2019. The financial statementshavebeen prepared togivea'trueand fair, viewand have departed from the Charities [Account5 atld Reports) Regulations 2008 only to the exlent required to provide a 'true and fair view,. This dcparture has involved following AccountinE and Reporting by CharitiL% prepdfin2 their fi.nancial st3ternenL% in aLLordance with the financial Reporting Standard applirable in the UK and Republic of Ireland [FRS 102) i%4ued on 16 [uly 2014 rather than the Acr.ounting and Rep()rtinE by Charities: .%tAtpment of Recommende.d Practice effective from l April 2005 whiLh has since been withdrawn. The PCC is a Public Benefit F.ntity. Airn and Purpose The PCC has the responsibility of co-operating with the Priesl-in-charge in prnmatinR in the ecclesiastical pari8h the whole mission of the Church, pastoral. ev3ngelistic.-%ocial and ecumenical. The Pccis alsospecificallyresponsiblc forthemaintL'nancL'of ihechurchbuildinbi churchErounds and church hall. St Olave's Church Ilall is Part of a complex situated in Maryg3tL. Lane and leased to the York Ilousing A551)Liation for a period of 99 years from March J998. In addition, (he Priest-in-charge and Chllrchwardens are the trustees ofthc 29 Marygate Tru5L ThL' inL(Ime derived from the le35inbF ()fthe 29 Marygatc propL'rty is u.sed to benefit the church of St Olave and all activities cunnected with the parish. Objectives and Aaivities The PCI" is LOtntnLLted io enabling as many people as possiblc to worship at the church and to become part of the parish Lomn]unity. The PCC mainLains an overview of w()rship throughout thL' parish and mJkc5 suggestions on how5ervices can involvethe Tnanygroups thatlivewithin the parish. 'fhe services andworship put faith into practice through prayer and scripture, music and sacrament. When planning the activities lor the year. the Priest-in-C.harge and the PCC have ci)nsidered the Charity Commission.% guidance on public benefit and, in particular. the specific guidance on charities for the advancement ol religon. In particular, the PCC try to enable ordinary people to live out their faith as part of the parish community through: o Worship and prayer; learning about the Gospel: and developing knowledge and trust in Jesus Christ., o ProviSlOD of pastoral care lor people living in the parish: o Missionary support and outreach worlL THE PAROCHIAL CHURCH COUNCILOF THE ECCLESIASTICAL PARISH OF ST OLAVE WITH ST GILES. YORK ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024- CONTINUED Objectives and Activities- continued To facilitate this wnrk it is important that tnaintain the fabric ol the ChurLh of SL Olave. York and the surrounding grounds. Achievements and Perfonnance Worship and Prayer Over the last year, the 10.30 service in church has returned to the forrnatthat was offered before the pandemic Ivith some minor adjustments still beino adhered to. Though masks and hand sanitizing are no longer generally used, space is av2ilable towards the back of the church for people who remain vulnerable, where social distance can be m2int2ined. Communion is offered both by intinction or by common cup. Following the installation of a new audiovisual systLn] WL. havL. beL'n ablL' ti) bring tugL'ther for worship the on-line congregation with thu5e in church through live-streatning the 10.30 service and other significant services including Christmas services. In addition, a quiet service at 11.30 on Friday is available to those who feel too vulnerable or frail to attend the main Sunday service. An 08.30 servfftce on Sunday% continues to be offered and thouRh numbers for this arL small, it is greatly appreciated by those who attend. A weL.kly orLlinL. CumplinL' attracts around 8 - 10 people. In the autumn an offering for children has been restarted. The Roots group meets on the first Sunday of the month during the main Eucharist. So far four children, aged 5-7, have attended Our Priest-in-Ch2rge, the Reverend Canon Liz Hassall. also ha5 responsibility for 3 additional PCCS (4 churches) and ourlifetogethercontinues to beenriched bythe relationshipwe havewiththese other churches in our sharing of Clergy and Lay Ministers. Throughouttheyear, St Olave's church life has continued to beably supported byassistantcurates Revd Nicky Glad.%ti)ne and Revd Kingsley Boulton and by willing retired clergy. to all ofwhum we are very 2rateful. Church Attendance At the A.P.C.M. in 2024 there were 120parishioners on the Church Electoral Roll, a large number of whom are not resident within the parish. We have continued to offer through the year the Live-strearn service (YouTube) for people who through frailty. distance or other reasons are not being 2ble to attend in person. This service has been clearly appreciated. Thi5 15 thanks to the renewed sound and video syslems installed in Church at the end of 2023. The transition was originallynotwithout issue, mostly due to slow internet connections, but this was resolved early in the year. The number of viewings on line h3s risen from 5,400 in 2023 to 8,800 in 2024. The average Sunday attendance in church in 2024 (excluding Christsnas and Easter scrvices) wa5 90 adults and 7 under 16s with approximately 74 viewing of the serVI￿S on line each week Total attendance on Easter Eve and Easter Day was 167 adults and 4 children. Total attendallce on Christmas Eve Midnight and Christmas D2y services 136. The .%ervice of 9 lessons and carols on Christmas Eve was attended by 303 adults and 10 children. On-line another 173 accessed the service THE PAROCHIAL CHURCH COUNCILOF THE ECCLESIASTICAL PARISH OF ST OLAVE WITH ST GILES, YORK ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024- CONTINUED Achievements and Perforniance- continued In the past year there have been 4 funerals, 9 weddings, 2 services after a civil wedding and 3 baptisms at St Olave's. Thanks are due to our Churchwardens forall thattheydo for St Olave's church. Thanks also to Ben Pugh, Revd Kingsley Boulton and Carolcolborne fortheirexpertise in produangtheseon-lineservices,theweekLy e-mails and service Sheets". Financial Review 2024 Overall. in 2024, unrestricted income totalled £352,572 and unrestricted expendituretotslled £127.080 giving an excess ofE225,492 on General fund5. after net Oosse.%)/gains on investments. Restricted & endowed income totalled £7,152 and expenditure totslled £5.966 giving a total excess of £1,186 on Restricted & Designated funds. This Kdve an overall exr.ess of £226,678. The paper loss of El,288 on the v31ue of the holding in .£cottish Widows income shares reduce£ the overall excess to £225,390. WL. were immensely grateful to reLL'ive two anonymous donations totalling £219,465. Without the5L. ILgacies the excess on General funds would be £6.027. We are gratL.ful for the continued support given throuEh individual stewardship. Regular giving, which has been glft aided where possiblc. cnablEs u.s tu recover the tax p3yable. In 2024 the income fmm planned giving and collertions was £54,572 (£."12,036 in 2023). Gift Day raised £2,085. Gift-aid claims totslled £14,431 (£1 J.846 in 2023). Sundry donaU"ons, including flowL'rs, bells. contartless givingand Just Giwng d(Inations raised £9,663 (£19,542 in 2023). We received £2.009 in L.P.O.W. Scheme VAT refunds of which £182 w35 for a restrictcd fund. FundrJi5ing rdised a total ot£9,460 [£J,486 in 2023]. £12,430 [Ell,413 in 2023) of the income has come from letts.ng the church hall. Thank5 are due to Carol Colbourne, our administrator. for looking after these bookings. A further E7.390 (£5,212 in 2023) came from letting the church for concerts. THE PAROCHIAL CHURCH COUNCILOF THE ECCLESIASTICAL PARISH OF ST OLAVE WITH ST GILES. YORK ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024- CONTINUED FiDancial Review 2024- continued Bank acc.ount interest (on General, Endowed and Restricted lunds) was £1 1,9.")Z (£6,014 in 2023). Monthly interest is paid into the CAF bank current account each fftonth froTn the CAF 60day noiice account set lip in 2024 with deposits totalling £150.000. The £7,842 (£7,265 in 2023) shared costs income (towards Administrator and Clergy costs) came fvoTn the other 3 parishes in the City Centre Churches. In 2024 the largest item of expenditure. from the General funds, was the Freewill Oflering of £55,500. Other large items of day-to-day expenditure were for the salaries and honoraria of the Director of music, the Assistant Director of music and the Ciry Centre Churches AdTninistrator= £27.841, {E23.331 in 2023], insurance: E6,369 (£5,966 in 2023), general repairs. Lhurch maintcnance and organ repairs: £8,841, {£8,870 In 2023), and church utilities: £6,652, (£7,890 in 2023). E4.252 of Ihe church mainienance costs came from a restricted fund. The overall costs 2SSOClated the church hall: £4.740. were more than covered by the income from hall letting% (£12,430) Charitablegivin.q The Christmas collections of El.309, was shared equally between Embrace the Mffiddle East and St. Denys, "Warm place" initiative. Major Expenditure in 2024 The repairs as a result ofthe Quinquennial Inspection, so far have cost£58,886 in 2023. A further£6,160 was paid in 2024 with the balance (£2,000 estimated) due in 2025. Looking t7head to 2025 The Trreewill offer will be increased to £58,-500. It is hoped that the delayed repairs to the St Giles room and roof can commence in 2025. once planning permission has been approved. Installation of Solar roof panels is being considered. It is hoped to upgrade/ replace the heating and lightin& Reserves Policy The Reserves Policy of the PCC is to have sufficient funds to cover one yearfs running cnsts less the voluntary Free Will Offering. The holding in Scottish Wlldows Corporate Bond Income Shares of £72,650 adequately covers this. THE PAROCHIAL CHURCH COUNCILOF THE ECCLESIASTICAL PARISH OF ST OLAVE WITH ST GILES, YORK ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024- CONTINUED Volunteers The PCC would like to thank 211 the volunteers who work so hard to make St Olave's church the lively and vibrant community iti%. In particular. we wantto mention thechurchwardens and secretary who have worked .$0 tirelessly on our behalf and our treasurer who has helped us all to understand the church's accounts and lis finances. Structure. Governance and Management Fnll()winR Lhe removal of the suspension of p3tr1)naKe. which had been in plaie lor a number of years, The Revd Canon Liz Hassall was collated as Rector in January 202i. The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Power5 Measure 1956, as amended by the Church Representation Rules 2006, and is re%lsiered wIih Ihe Chanry Comrnlsslon. nutnber 1132855. The method of appointtnent of PCC members is set out in the Church Representation Rules. All those who attend services or are members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding how the funds of the PCC are to be spenL There is a Standing Committee whose members are the clergy. churchwardens. secretary and treasurer of the pcc. The St Olave's Parochial Lhurch Council met six tirnes in 2024. 1.hese meeting.% were all held in church, 3 chaired by the Rector, Revd Canon Liz Hassall, one by Ben Pugh (Vice-chair). one by Curate Revd Nicky Gladstone and one by Ordinand Helen Jones. The Standing Committee met fourtimes in 2024. Plans forthe future We are committed to continue to grow the size of the congregation through engaging with fan]ilies and the local residents within our parish. We have installed a neiv sound and video system which enables a more inLlusive approach to %erviLe.% and events in the c.burch, b()th lor those. attending the servtLe.% dnd those accessing thetn on-line. We have attained the Rocha Eco Silver Award this ye2r and shall be continuing 10 inform ourselves and others how to be more aiipare of the effects of climate change on Dur lives. We are en2aging with the issues around the maintenance of the buildingand howwe can niove towards thereductioTh of our carbon emission/enerxy fuolprinL. Administrative Inforn)ation St Olave's Church is situated in Marygate, York It is part of the Diocese ofyork within the Church of England. The correspondence address for the PCC is St Olave's Church, YorK New P3rson2ge House, 29 Marygate, YORK, Y030 7WH. The PCC is a charity registered with the Charity CoTnmi5sion, Registered Charity No.: 1132855. THE PAROCHIAL CHURCH COUNCILOF THE ECCLESIASTICAL PARISH OF ST OLAVE WITH ST GILES, YORK ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024- CONTINUED Administrative Information - continued PCC Tnembers who have served at any time from I lanuary 2024 until the date this report was approved are: Priest-in-Ch2rge: (Rector from January 2025) The Revd Canon Liz Hassall Licensed Ass. Curate (SSM) The Revd Nicole Gladstone The Revd Kingsley Boulton [Ordained Priest- 06/01/2024} Lay Ministers: Miss Janet Fox Mr Peter Wells Churchwardens: Mrs Jane Lockley tfrom November2022J Mrs Elizabeth Reid tfvpm May 2023) Mr Roger Button (from May 2023) Diocesan Synod Represenrarive Mr Roger Burton (unciljuly 2024) Deanery Synod Representative5: Miss Ruth Sillar (re-elected May 2023J Ms Margaret Eyre (re-elected May 2023) Elected Members.. Mrs Frances Brock (from Moy 2022) Mrs Helen Button (untilJune2024) Mrs Doreen Gurrey ffrom May 2023) Dr Helen lones (untilJune 1024) Mrs Ilelen Robb nee Field% Ifrom Muy 2021) Mr Ben Pugh (Vice chair) tfrom Moy ZOIZ) Mrs Christine Stanton [Treasurer) (re-elected May2024J Mr john Stanton ttrom May2023) Mr Paul Towers (untiljune 2024) Mr Bill Read (from July2023) Dr Clare Steele-KinE ffrnm Blay 2023} Mr lamic Campbell ffrom May2024) Mr Peter Wells (Secretary) ffrom 2023) The PCC'S banker and IndependeT)iexamlnerare: Bankers.. CAF Bank Limited Kings Hill WLST MALLING Kent ME19 4TA Independent Examiner.. Sarah Wearing HPH. Chartered Accountants 54 Boothdtn YORK Y030 7XZ THE PAROCHIAL CHURCH COUNCILOF THE ECCLESIASTICAL PARISH OF ST OLAVE WITH ST GILES. YORK ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024- CONTINUED Statement of responsibilities of the PCC Law applicable t(J charities in England and Wales and guid2nte issued by the Central Board of Finance of the Church of England require the PCC to prepare financial.statements which givea true and fairview of the PCC'S financial activities during the year. In preparing financial st2tements giving a true and 12ir view. the PCC should follow best practice and.. select suitable accounting policies and then apply them consistently; Tnake judgement8 2nd estimates that arc reasonable 2nd prudent: state whether applicable accounting standards and statements of rccoTntr]ended practice have been followed. subject to any material departures disclosed and explaiJ)ed in the financial statements,. prepare the financial statements on the going conttrn basis unless it is inappropriate to presume that the church will continue in operation. The PCC are responsible for keeping proper accounting records which disclose with reasonable accuracy at anytime the finanaal position ofthe PCC and enable them to ensurethat the financial statements cornplywith the Charities Act 2011. They are also resp(Jnsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the PCC on 30 March 2025 and Signed on its behalf by: Revd CaThon Liz Hassall, Rector and Chair of the P.C.C. INDEPENDENT EXAMINER'S REPORT TO THE TRU￿EEs0FTHE PAROCHIAL CHURCH COUNCIL OF THE ECCLESJATIG4L PARISH OF sr OLAVE WITH sr GILES, YORK I report to the trustees on my examination of the finanoal ststements of The P￿hla1 Church Council of the Ecclesiastical Parish of St Olave with St Giles. York ("the Pcf) for theyear ended 31 December 2024. This report is rnade so]ely to the PCC'S trustees, as a body, in accordance with sertion 154 of the Charities Art 2011. My independent examination work has been undenaken so that I ffl￿t skte to the PCC'S tntstees those matters I am required to sr2te to them in an Independent Examlnerfs Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the PCC and the PCC'5 trustees as a body for My independent examination work for this repor¢ or for the opinions I have fornie(L Responslbllities and basis of report As the Charity trustees of the PCC you are responsible for the preparation of the financial staternents in accordance with the requirements of the Charities Art 2011 Cthe Actj and the Church Accountin8 Regulations 2006 Cthe regulations.). I report in respect of my examination of the PCC'S fiThancial 51atemeDts L3rried out under section 145 ofthe 2011 Act and in carying out rny examination I have followed all the applicable Directions Eiven by the Charity Commission under section 145(5)(b) of the ACL My examination also carried out in accordance with ternts found in the current Church guidance issued by the Fynance Division of the Archbishops. CounaL Independent examillefs stateme Since the Charitys gross income exceeded £250.000 your examiner must be a member of a bcrfjy Ilsted in section 145 OF the ZOI l ACL I confirn] that l am qualified to undertake the examination because l am a member of ICAEW. which is one of the listed bodies I have completed my examinatio￿ I confirni that no material matters twe come to myattention in connertton with the examination giving me cause to believe that in any materlal respect accounting records were notkept in respect of the PCC as required by section 130 ofthe Act,. or 2. the fir￿nCIal statements do not accord with those record5," or 3. the finanaal ststements do not comply the 3ppIi(3ble requirernents concerning the fom and content of finanaal statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thatthe financial ststemeDts give a'trueand fair view which isnota matter considered as part ofan independent examinatio I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. IA Sarah Wearing FL4. DChA 30 March 2025 HPH, Chartered Accountants 54 Bvoil￿ffl YORK Y030 7XZ THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST OLAVE WITH ￿ GILES. YORK STATEMENT OF FINANCtAL ACTIVITIES FOR THEYEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted Endowmeut Funds Funds Funds Note Total Funds 2024 2023 Income and endowments from: Donatinns and legacies Charitable activities Other trading activities Investments Other Z{a) 2(b) 2(c] 2(d) 2(e) 300.216 14,751 28.777 7.000 1.827 300.216 14,751 28,777 13,970 2,009 166.512 7.895 24,785 7,673 12,325 287 182 6,683 Total income 352.571 469 6,683 359,723 Z19,190 Expenditure on.. Charitable activities 127,080 5,882 84 133,046 250,756 Total expenditure 127,080 5.882 84 133,046 250,756 Net income/(expendithre) before gains and losses on investments Net (losses)/g3ills on inve5tTnents 225.491 (1,282) [5.413) 6,599 226,677 [31, Jf661 18,786 (J,288) Net (expenditure)/income Transfers between fund5 224.203 [5.413) 6.599 225,389 (12.780) Net movement in Funds 224.203 (5,413) 6,599 225.389 (12,780) Total funds brought forward at l january 2024 82.197 18.755 166,898 267,850 280,630 Total funds carried forward at 31 December 2024 306.400 £ 13,342 £ 173,497 £ 493,239 £ 267.850 The notes on pages I I to 19 forn] part of these financial stateTnents. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PARISH OF ST OLAVE WITH ST GILES, YORK BALANCE SHEEf ASAT 31 DECEMBER 2024 Unrestrirted Restricted Endowment Funds Funds Funds Total Funds 2024 2023 Note Fixed Assets Investments 72,650 72,650 73,938 Current Assets Debtors Cash at bank 11,281 225,480 1,414 172,083 12,695 410,905 13,852 203,877 13,342 Total Current Assets 236,761 13,342 173,497 423,600 217.729 Current Liabilities Creditors.. arnounts falling due within one year 3,010 3,010 23,817 Total current liabllities 3,0 10 3,010 23,817 Net Current Assets 233,751 L3,342 173,497 420,590 193.912 Total assets less current liabilities 306.401 13.342 173,497 493,240 267,850 Net Assets £ 306.401 £ 13.342 £ 173.497 £ 493.240 £ 267,850 Parish Fund5 Unrestricted Funds Restricted Funds Endowment bunds 306,400 306,400 13,342 173,497 82,197 18,755 166.898 13,342 173,497 £ 306,400 £ 13,342 £ 173,497 £ 493,239 £ 267,850 Approved by the Parochial Church Council on 30 March 2025 and signed on its behall by Revd Canon Liz Hassall, Rector and Chair of the PCC The T]Ote5 on pages I I to 19 fortn part of these financial statements. 10 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST OLAVE WITH ST GILES. YORK NOTES TO THE FINANCIAL STATEMENTS- 31 DECEMBER 2024 ACCOUNTING POLICIES The financial statements have been prepared in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UKand Republic of Ireland (FRS 102), the Financi31 Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). the Charities Act 2011 and UK Generally AcceptedAccouThting Practice. The financial statements have been prepared to give a'true 2nd fair. view and have departed from the Charities {ALLounts and Reports) Regulations 2008 only t(1 the L'xtent required to provide a 'true and fair NryL'w'. Tliis departure hd.s involved lollowing the relevant vcrsi()n olthe Ststement of ReLC)mmended Practice applicable ti) charities preparing theiraccount% in acc()rddncewith the Financial Reporiing Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Rep()rting by Charities.. Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. The financial Statements include all transactions. assets and liabilities for which the PCC is responsible in law. They do not includc the acc()unt% ol church group5 that owe their main affiliation to another bodyj nor tho