Registered Charity no. 1132865
# **Cove Parochial Church Council**
**Previously known as The Parochial Church Council of Ecclesiastical Parish of St John Cove**
**Trustees’ Annual Report and Accounts Year Ended 31[st] December 2025**
Cove Parochial Church Council
## Contents
Trustees Annual Report ......................................................................................................................... 1 Reference and Administrative Details ................................................................................................ 1 Structure, Governance and Management .......................................................................................... 2 Objectives and Activities .................................................................................................................... 3 Achievements and Performance ........................................................................................................ 4 Financial Review ................................................................................................................................ 5 Trustees Responsibilities ................................................................................................................... 7 Independent Examiners Report ............................................................................................................. 8 Statement of Financial Activities ............................................................................................................ 9 Statement of Financial Position ............................................................................................................ 10 Notes to the Financial Statements ....................................................................................................... 11 Detailed Statement of Financial Activities ............................................................................................ 26
P a g e | i
Cove Parochial Church Council
## Trustees Annual Report
## Reference and Administrative Details
## **Reference**
The Charity is called Cove Parochial Church Council. The Parochial Church Council is known as the PCC for short. Other names which are used for the charity are "The Parochial Church Council of Ecclesiastical Parish of St John Cove", the "PCC of Cove Parish" and the parish uses the trading name of “Farnborough Foodbank”. The Church is registered with the Charity Commission for England and Wales and was registered on the 21 November 2009. Before this the church was excepted registration.
Registered Charity Number: 1132865 Registered Office: Christ Church Cove Road Farnborough Hampshire GU14 0EX Website: https://www.parishofcove.org.uk/
## **Parochial Church Council (PCC) Members and Trustees**
The council members and trustees who have served during the year until the date this report was approved are:
|re:|||
|---|---|---|
|**Member**|**Appointment dates**|**Date resigned**|
|Andrew Jonathan Hyde|May 20||
|Catherine Beadle|Oct 20||
|Tony Beadle|May 17||
|Rev Gemma Michelle Foster|Mar 19||
|Jacquie Snuggs|May 12|Mar 25|
|Penelope Jane Pidd|Oct 20||
|Simon Charles Taylor|May 20||
|Rev Anne Richardson|May 21|Sep 25|
|Rev Philip Richardson|May 21|Sep 25|
|Elizabeth Susan Brown|May 20||
|Nicholas Andrew Young|Aug 13||
|Jean Margaret Williams|May 22, Re-elected May 26||
|Marc Ogwen Roberts|Apr 24||
|Linda Christine Caney|Apr 24||
|Carol Ann Bird|Apr 24||
|Janet Whitlock|Apr 23|May 26|
|Deborah Jane George|Apr 23|May 26|
|Thomas Bevell|May 26||
|Sally Ann Gregory|May 26||
|Kirsty Louise Paddon|May 26||
|Fiona Batha|May 26||
|Andrew Hislop|May 26||
P a g e | 1
Cove Parochial Church Council
Primary Bankers: Co-operative Bank, 1 Balloon Street, Manchester, M60 4EP Independent Examiner: Lisa Darby FCA, Stewardship, 1 Lamb's Passage, London, EC1Y 8AB
## **Public Benefit Statement**
In setting our objectives and planning our activities our Trustees have given consideration to the Charity Commission’s general guidance on public benefit and in particular the advancement of the Christian faith through the provision of worship and teaching services and the relief of sickness, financial hardship and promoting good health. This has been achieved through the provision of funds and services.
## Structure, Governance and Management
Cove Parochial Church Council (PCC) is a charity registered with the Charities Commission (registration number 1132865). The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure.
The method of appointment of PCC members is set out in the Church Representation Rules. The membership of the PCC consists of the incumbent (our Rector), churchwardens and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services/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 on how the funds of the PCC are to be spent.
Our two churchwardens also hold specific responsibilities, one for finance and the other for facilities, and are supported by deputy wardens.
## **PCC Schemes of Delegation**
The Scheme of Delegation refers to a document or policy framework used by the PCC to delegate certain responsibilities and decision-making powers to individuals, committees, or officers. This scheme ensures that the day-to-day functioning of the parish can proceed efficiently without requiring every decision to be made at full PCC meetings. Cove Parish has the following sub-committees from PCC:
- Operations Team
- Safeguarding Team (disclosures, DBS validations, risk assessments and dashboard)
- Finance Team
- Pastoral Discretionary Fund Team
- Parish Hall Management Team
- Farnborough Foodbank Management Team
- Complaints Committee
In addition, we have a number of leads who manage aspects of our missional activities:
- Wednesday evening discipleship courses,
- Footprints (community café),
- Open Door (community support group),
- Meeting Point (community support group for the Third Age),
- Technology,
- GDPR, and
- Service Ministry leads
We have, in year, appointed a new GDPR team that is reviewing how we handle personal information.
P a g e | 2
Cove Parochial Church Council
## **Safeguarding Confirmation**
With regards to the PCC's obligations to safeguard children and vulnerable adults, the members of the PCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.
## **Church Buildings**
The two church buildings are reviewed every 5 years through the Diocesan Quinquennial inspection process. The last inspection was May 2022. The action plan is being addressed year-by-year. The PCC will give a more in-depth review during 2026 in preparation for the next full inspection anticipated in 2027.
As part of the Quinquennial inspection, the inventories of the two church buildings are reviewed in a Terrier document. A further full review was carried out for Christ Church in October 2024. All items of value were assigned a barcode reference which is now linked to an Excel spreadsheet. This enables much easier cross-reference. We plan the same for St John’s church in 2026.
## **Farnborough Foodbank**
The Cove PCC charity comprises two distinct missions; the Parish activities and the activities of Farnborough Foodbank. The latter is managed as a single restricted fund within the accounts and by a subcommittee of the PCC – the Farnborough Foodbank Management Team. The foodbank also operates under the governance of the Trussell Trust requirements.
## Objectives and Activities
Our primary objective is the promotion of the whole mission of the church in the ecclesiastical parish of Cove.
Having through recent years set in place foundations to build area leads with the policies, procedures and administration tools needed to make us ready to step out in mission, our vision is to be seen in the community:
- Reflecting Jesus,
- Loving joyfully, and
- Inspiring hope
With the inclusion of Farnborough Foodbank within the parish structure we also have the objective of supporting those in need across Rushmoor and the surrounding areas with food. We work with the Trussel Trust in the governance and management of the foodbank.
Our objectives and activities are governed through the parish Church Development Plan (CDP) which is current for the period 2025 to 2027 and was developed through the CofE Parish Needs Process (PNP). Through this the Parish adopted three main vision points; Growing Deeper (discipleship), Growing Wider, (connecting with the community), and Growing a Multi-Generational Family (youth & outreach).
- Going deeper includes Homegroups, investment in contemporary worship, Investment in the ministry of the Holy Spirit, and developing a culture of generosity.
- Growing wider includes upgrading our facilities, building partnerships with local churches, community activities and includes Farnborough Foodbank.
- Growing a multi-generational family presently covers employing a youth worker and growing youth ministry.
The fourth strand to the PNP is refining our current structure to serve our strategy.
In 2026 we will progress our Parish Needs Process captured in our 2026 Preparing for Growth plan. This captures the key parish events on the year as well as progressing the activities against the three areas of Growing Deeper, Growing Wider, and Growing a Multi-Generational Family. We aim to launch an updated website for the parish in support of these activities, one that reflects the aims, growth and outreach across the parish.
P a g e | 3
Cove Parochial Church Council
## Achievements and Performance
## **Charitable activities undertaken**
We continue to see new faces attending all of the services across the parish, an encouragement to the path we have taken to develop both self and the church activities in support of growth and the promotion of the whole mission of church.
We restructured our Safeguarding team following the sad passing of our Parish Safety Officer (PSO). The new team look after our regular DBS validations, risk assessments, disclosures and the safeguarding dashboard. During the autumn period we also adopted a new process to implement a safe recruitment process covering role descriptions and references. Administrative support has been increased to support this growing activity.
Services remain the core to our weekly activities, and we have been thankful for the continued support to these by our ministry teams, technology team, children’s groups and welcoming teams. We are deeply pleased by the continued interest in the Fun@4 service which focusses on parents with young children, some who may not otherwise attend a service. We have seen growth through new faces, in discipleship, and through the work of the Holy Spirit. We were also greatly blessed at a full immersion Baptism service when the applicant who was profoundly hard of hearing had her hearing fully restored!
Lay training remains an encouraging area for Cove as we have been blessed with a desire for going further and for growth in individual discipleship. In the year, one of our trainees completed the Caleb course, one started Licensed Lay Ministry (LLM) training. And one started the Ministry Experience Scheme. We have four people on the Foundations in Ministry (FIM) as well as a number who attended one day conferences.
Our work with schools continued to flourish with regular connection with every school for under 11s whether through attendance at school assemblies, Open the Book, Christmas Journey, hosting at Fun@4, in one of the services or at our holiday club. We continue to see growth in the number of children attending on Sundays. Our weekly work with younger children continued with the Bumps & Babies and Little Fishes groups.
Our missional work expanded the Growing Deeper courses delivering alpha, the bible course and the shape course. We host monthly prayer meetings, and the pastoral team offers ongoing support, with bereavement assistance as an important service.
Growing Wider continued to support parish and community needs through Footprints (community cafés), Open Door, Meeting Point, the monthly Community Lunch, Men’s Ministry, Home Communion, Funeral Ministry, Bereavement Visiting and Hospital Visiting. The monthly art & craft group and a Barn Dance also provide outreach opportunities.
Farnborough Foodbank supported around 600 people every two months throughout the year seeing a steady increase in demand for support. We opened a second distribution centre at St Peter’s in farnborough, a neighbouring parish. The regeneration of Aldershot meant that we lost use of old barracks for warehousing food and were forced to find new accommodation, costing commercial rents. We are currently using two temporary facilities and continue to look for a more permanent home for warehousing the food stock. £92,485 of food stock was donated to the foodbank in the year (measured by value per kg donated) and £105,000 of food distributed during 2025.
The Parish Hall usage increased during the year with a new playgroup that offers evidenced based learning support. Regular use continues to provide the parish with the funds to operate, maintain and repair the hall. The use of church rooms also continued through the year with some established groups using the facilities.
In year our parish tithing supported the Cove Child Contact Centre, Sharon Wilcox (CMS), World Vision, The Source (a local charity supporting young people with mental health difficulties) and the Guildford Diocesan of Evangelical Fellowship (GDEF).
## **Achievements against objectives**
Achievements in 2025 against our PNP programme included:
P a g e | 4
Cove Parochial Church Council
- Growing deeper – we established a series of discipleship courses that run annually and develop a deeper relationship with God and encourage membership of homegroups and wider church activities. We ran a 2025 Generosity Campaign in the year and our work against Going Deeper has also led to the appointment of a curate who starts with the parish in 2026.
- Growing wider – Foodbank has expanded, and we developed the children’s and welcome areas.
- • Growing a multigenerational family – we are developing youth work, and our parish coordinator is undertaking the Kickstarter grant programme. We also had a meeting with CAP explaining about missional impact of the ministries we are currently doing.
Moves were made to upgrade our facilities although most progress has been made in coppicing trees in the graveyard, improving the lighting in the parish hall and upgrading kitchen facilities to meet current hygiene standards – achieving 5-Star ratings.
Mosaic Arts hosted “All Heaven Declares,” an event celebrating God’s goodness and raising money for our local branch of Christians Against Poverty (CAP). Featuring 35 singers and musicians, 30 children and young people dancing, and another 15 individuals supporting with tech (lights & sound), refreshments, and front of house tasks. More than 150 people attended.
We have not been successful with recruiting a youth worker but have been encouraged with more members taking up vocational training. Including one who is on the Ministry Experience scheme with a passion for youth work.
We recruited additional administration support in year to address the increasing demands in this area and have recently extended the role to support financial bookkeeping and safeguarding administration needs.
## Financial Review
Our income and expenditure have changed from prior years following the acquisition of Farnborough Foodbank into the parish in late 2024, inflating both income and expenditure. In addition, all acquired, donated and distributed food stock is valued (to comply with accounting principles) and accounts for around £100,000 of both income and expenditure.
Overall income decreased in 2025 to £464,717, down 17% on 2024 as all of the Foodbank assets were accounted as income in 2024. Expenditure increased to £518,203 due to the full year of Foodbank accounting, up 52%.
Although we have seen steady growth in giving our income was impacted by receiving less grant funding than in prior years. We incurred higher than expected costs for insurance, accountancy charges, some utilities, and training costs. Some of our key grants come towards the end of their funding, impacting unrestricted expenditure. Our principal funding sources for the parish remain donations from the congregation, accounting for 78% of income. Additional income sources include venue hire, occasional services, investment income and grants.
This was our first year of managing the governance of Farnborough Foodbank, operating as our Cove PCC Foodbank restricted fund. It incurred higher than expected costs due to a need to relocate from premises where we had been paying a peppercorn rent. Excluding stock and grants exclusively for food, the Year End operating position was a loss of £51,296. This loss was covered by Foodbank reserves. Our principal financial funding sources for the Foodbank are charitable donations from individuals and businesses.
Throughout the year, we encountered difficulties in finalising our 2024 accounts after the integration of the Farnborough Foodbank charity into the Parish and the subsequent requirement to incorporate Foodbank assets. This process highlighted the need for enhanced utilisation of our accounting software, Expense Plus. To address this, we engaged local firm Rocksalt to provide ongoing support and expert guidance, enabling more effective use of Expense Plus and ensuring accuracy in our year-end reporting. Additionally, we transitioned from Wyatts & Co to Stewardship for the preparation of our year-end accounts.
Cornerstone training undertaken in April 2025 highlighted, through a congregation questionnaire, areas we could improve financial trust and encourage generosity. As a result, we began providing regular financial updates and launched a 2025 Generosity Campaign.
P a g e | 5
Cove Parochial Church Council
## **Status of Funds**
A key concern for the Parish is that our giving into unrestricted funds remains lower than costs allocated to unrestricted funds – prior to permitted transfers from restricted funds. In year the Unrestricted fund remained low, and the Designated Funds remained neutral.
Some key Restricted Funds reduced in year through grant allocation in supporting our Children, Schools and Family Worker, an exceptional expenditure on new lighting within the Parish Hall, and the work of Farnborough Foodbank (currently operating at a loss). Movements in the three categorisations of our funds were:
- Unrestricted fund decreased over the year to £14,202.
- The Designated funds decreased by 1% to £63,638.
- Our Restricted funds decreased by 13% to £360,096.
Some key grounds work in our St John’s graveyard utilised the available income we receive from two permanent endowment trusts.
Investments are held to generate income and for investment potential when funds are not immediately required. We look to maximise potential over 40 day, 90 day and 12 month accounts and seek ecologically friendly investors. We hold two investments for the parish funds with Kingdom Bank and MCA, and two for Farnborough Foodbank funds with Charity Bank and Shawbrook Bank.
## **Balance Sheet Movements**
Fixed assets: no new tangible assets were added in year. The main item remains the electric van used by the Foodbank. There was little change in the investments over the year.
Following advice, procured in early 2026, the fund values of the Marshall and Bateman Trusts will appear on the balance sheet of the diocese. In previous annual accounts the value of the Bateman Trust has appeared on our balance sheet.
Current assets: cash at bank was lower due to the foodbank operating losses. Foodbank stock reduced over the year by 2,243 kg resulting in a change to the value of stock held from £36,838 (2024) to £30,626 (2025). A stock take was undertaken in September resulting in a small reduction to the recorded value of stock. The parish short term deposit account was closed transferring funds to the general fund (cash at bank).
## **CCLA Charities Investment Fund**
This is an investment fund that was originally set up in support of the Church Hall Charity. This was formally incorporated into the parish in 2011, with the parish taking full responsibility for the parish hall expenses. The investment fund now holds the parish hall investment and a proportion of the parish reserve.
## **Reserves Policy**
Our Parish Reserve target is three months of our monthly outgoing for the running of the church which amounts to approximately £75,000. A percentage (38%) of the reserve is held in an investment fund for the Parish Hall. It was agreed by the PCC that a percentage of this investment would be used under specific circumstances if it was required.
Our Parish Reserve fund sits at £60,087 and the Parish Hall Investment fund at £25,717. The Farnborough Foodbank restricted fund held £227,372 at Year End.
## **Summary of why a “going concern”**
The Trustees are confident that current reserves will sustain operations. Forecasts show losses for both the Parish (£41k from 2026–2028, primarily due to a £33k annual deficit in unrestricted funds) and the Foodbank (£61k in 2026, mainly from rising warehouse rental and operating costs). Cost reductions and increased regular giving are being pursued for the Parish, while the Foodbank has launched a fundraising campaign targeting private and corporate donors.
Other than the above, the Trustees do not know of any uncertainties regarding the organisation’s ability to continue operating as a going concern.
P a g e | 6
Cove Parochial Church Council
## **Funds materially in deficit**
The Farnborough Foodbank restricted fund (Cove PCC Foodbank) is operating at a significant loss due to taking on paid staff to ensure surety in the viability of provision and the loss of warehouse space at a peppercorn rent forcing the use of commercially priced properties to warehouse the donated food. The Foodbank reserves will cover this situation for the foreseeable future, but the Foodbank Management Board have recognised that this is not a sustainable operating model and are putting in place measures to source greater donor support from local businesses to cover the increasing operating costs. As well as exploring options regarding shared use premises with other local Foodbanks to reduce costs.
## **Volunteer Time**
All areas of the work of the church could not function without the voluntary support provided by members of the congregation and, in some cases, people outside the church. The Farnborough Foodbank warehousing, stock management, deliveries and distribution centres operates with significant local volunteer support and, frequently, volunteers from local businesses. The value of volunteer support is not recorded in detail but is estimated to be in the region of 300 hours per week.
## Trustees Responsibilities
The 2011 Charities Act require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to:
- Select suitable accounting policies and apply them consistently.
- Observe the methods and principles in the Charities SORP;
- Make judgments and estimates that are reasonable and prudent.
- Prepare financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence.
- State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## G M H Foster
G M H Foster (Jun 3, 2026 10:16:33 GMT+1) Signed on behalf of the Trustees: …………………… Name of Trustee: Rev Gemma Foster, Chair of the Trustees
Jun 3, 2026 Date: ……………………
P a g e | 7
Cove Parochial Church Council
## Independent Examiners Report
TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF
Cove Parochial Church Council
('the Charity')
I report to the members of the PCC (who are also the charity's trustees) on my examination of the accounts of the Charity for the year ended 31 December 2025 on pages 9 to 26 following, which have been prepared on the basis of the accounting policies set out on pages 11 to 14.
## **Responsibilities and basis of report**
As members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
## Lisa Darby
Lisa Darby (Jun 3, 2026 11:00:50 GMT+1)
Lisa Darby FCA
The Institute of Chartered Accountants in England and Wales (ICAEW) Stewardship
1 Lamb's Passage London EC1Y 8AB
Date: Jun 3, 2026
P a g e | 8
Cove Parochial Church Council
## Statement of Financial Activities
For the Year Ended 31 December 2025
|Note
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Transfer of net assets and activities
7
**Total income and endowments**
**Expenditure on:**
Charitable activities
8
Other
11
**Total expenditure**
**Net gains/(losses) on investments**
**Net income/(expenditure)**
**Transfers between funds**
18
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
**18**|Unrestricted
Funds
£
Restricted
Funds
£
**Total Funds**
**2025**
**£**
Total Funds
2024
£
213,064
197,734
**410,798**
238,390
21,832
-
**21,832**
25,184
21,762
-
**21,762**
15,061
5,570
4,755
**10,326**
11,174
-
-
**-**
270,478|
|---|---|
||**262,228**
**202,489**
**464,717**
**560,287**|
||258,007
255,113
**513,120**
340,666
5,083
-
**5,083**
-|
||**263,090**
**255,113**
**518,203**
**340,666**|
||(1,373)
-
**(1,373)**
3,002|
||(2,235)
(52,624)
**(54,859)**
222,623
(278)
278
**-**
-|
||(2,513)
(52,346)
**(54,859)**
222,623
80,353
412,442
**492,795**
270,172|
||**77,840**
**360,096**
**437,936**
**492,795**|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The notes on pages 11 - 26 form part of these accounts.
P a g e | 9
Cove Parochial Church Council
## Statement of Financial Position
As at 31 December 2025
|Note
**Fixed Assets**
Tangible assets
10
Investments
11
**Current Assets**
Stock
12
Debtors
13
Investments
14
Cash at bank and in hand
15
**Creditors**
Amounts falling due within one year
16
**Net Current Assets / (Liabilities)**
**Total Assets less Current Liabilities**
Net assets / (liabilities) excluding
pension asset / (liability)
**TOTAL NET ASSETS**
**Fund Balances**
18
Unrestricted Funds
General funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
22,489
32,694|Restricted
Funds
£
**Total Funds**
**2025**
**£**
-
**22,489**
25,717
**58,411**|Total Funds
2024
£
28,795
64,867|
|---|---|---|---|
||55,183|
25,717
**80,900**|
93,662|
||-
19,737
-
27,054|
30,626
**30,626**
4,770
**24,508**
-
**-**
320,579
**347,633**|
36,838
15,041
5,000
374,783|
||46,791
(24,134)|
355,976
**402,767**
(21,597)
**(45,731)**|
431,662
(32,529)|
||22,657|
334,379
**357,036**|
399,133|
||77,840|
360,096
**437,936**|
492,795|
||77,840|
360,096
**437,936**|
492,795|
||**77,840**|
**360,096**
**437,936**|
**492,795**|
||14,202
63,638|
-
**14,202**
-
**63,638**|
16,296
64,057|
||77,840
-|
-
**77,840**
360,096
**360,096**|
80,353
412,442|
||77,840|
360,096
**437,936**|
492,795|
The financial statements were approved by the members of the PCC and were signed on its behalf by:
## Marc Roberts
Signed on behalf of the Trustees: Name of Trustee:
Date:
Marc Roberts (Jun 3, 2026 10:30:19 GMT+1)
……………………
Marc Roberts, Treasurer and Finance Area Lead Jun 3, 2026
……………………
Charity number: 1132865
P a g e | 10
Cove Parochial Church Council
## Notes to the Financial Statements
## **1 Statutory Information**
The Parochial Church Council of Cove Parish is a charity registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention as modified by the revaluation of certain assets, which are measured at fair value through the Statement of Financial Activities. The financial statements include all activities for which the PCC is legally responsible; the activities of informal gatherings of church members and groups that owe their main affiliation to another body are excluded.
These financial statements have been prepared in accordance with The Church Accounting Regulations 2006, the 'Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)' ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The PCC have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The PCC have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the PCC have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The PCC have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income (which includes planned giving, collections and other donations) is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part income is generally recognised when it is received by, or on behalf of, the PCC. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
- ii) Donated facilities, services and goods. Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value (being an estimate of the amount it would cost to purchase those items). Facilities, services and goods donated for the charity's own use are recognised as income when receivable at their value to the charity.
P a g e | 11
Cove Parochial Church Council
The charity relies on volunteers to carry out many of its activities, particularly the Farnborough Foodbank activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.
iii) Legacies. Income from legacies is recognised when a distribution is received from the estate or, if earlier, when the charity has been notified that a distribution will be made and the amount receivable can be measured reliably.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.
Income from other trading activities represents income receivable from activities undertaken to generate funds for the charity. It includes income from letting of the building.
Investment income represents income generated by the charity's assets and includes income from bank interest and investment interest.
## c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Contributions in respect of the diocesan parish share are included in the Statement of Financial Activities for all amounts agreed to being payable for the financial year. Any contributions that have not been paid over by the year end are included as a creditor.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The cost of raising funds is not significant and has not been separately disclosed.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
## d) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the PCC in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
## e) Tangible fixed assets
Consecrated and beneficed property is not included in these financial statements by virtue of s.10(2) of the Charities Act 2011. All expenditure on consecrated or beneficed buildings is written off in the year in which it is incurred.
Movable church furnishings held by the incumbent and Churchwardens on special trust for the PCC and which require a faculty for disposal are capitalised in accordance with the policy set out below. These items are regarded as inalienable property and are listed in the church's inventory which can be inspected at any reasonable time. Inalienable property acquired prior to 2000 has not been capitalised as there is insufficient cost information available.
P a g e | 12
Cove Parochial Church Council
The church halls and certain clergy accommodation are held in trust by the Diocese on behalf of the PCC. These properties are essential for the mission of the church and have been in use for many years but they have not been included in these financial statements as there is insufficient cost information and their depreciated cost is unlikely to be material
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £750 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Motor Vehicles Over 10 years
Equipment Over 4 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
## f) Investments
Fixed asset investments are held to generate income and / or for their investment potential. Current asset investments are investments that are held specifically for sale or are investments that the charity expects to sell by the next balance sheet date. Investments are valued as follows:
i) Investment property and listed investments are valued at their market value (fair value) at the balance sheet date.
ii) Unlisted investments are measured at cost less impairment where it becomes apparent that the amount that could be realised is less than cost.
Mixed motive investments are investments that are held both to generate a financial return and to contribute to the furtherance of the charity's objects.
Impairment losses and losses arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Expenditure on charitable activities'. Gains arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Other income'. All other gains and losses on investment assets are included in the Statement of Financial Activities under the heading 'Net gains / (losses) on investments'.
## g) Stocks
Stocks of goods purchased for re-sale are stated at the lower of cost and net realisable value. Stocks of donated items held for distribution to beneficiaries are measured at fair value; stocks of goods donated for the charity's own use are valued at an estimate of their value to the charity.
## h) Leased assets
Leases for assets that transfer to the charity substantially all the risks and rewards of ownership are classified as finance leases. Assets under finance leases are recognised as assets of the charity at the inception of the lease at their fair value or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation. Lease payments are apportioned between a finance expense and a reduction of the lease obligation so as to achieve a constant rate of interest on the liability.
Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term (unless another systematic basis is more representative of use).
## i) Pension scheme arrangements
The charity contributes to the Church Workers Pension Fund, which is a multi-employer defined benefits pension scheme as described in Section 28 of FRS 102. The charity is not able to identify its share of the Scheme's assets and liabilities and, therefore, as permitted by FRS 102, the Scheme is accounted for as if it were a defined contribution pension scheme. Contributions to the Scheme are charged to the Statement
P a g e | 13
Cove Parochial Church Council
of Financial Activities as they become payable. Further information about the Scheme, and its current funding surplus, is disclosed in note 17 'Pension Commitments'.
## j) Taxation
The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## k) Financial instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
## l) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
## m) Critical accounting estimates and areas of judgement
The members of the PCC do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
## **3 Donations and legacies**
|Donations of cash and similar **
Foodbank donations in kind (note 3a)
Other grants receivable
Gift aid recoverable|**2025**
£
**2024**
£
235,161
201,123
92,485
10,400
58,753
11,055
24,399
15,812|
|---|---|
||**410,798**
**238,390**|
** Donations include monies received from Parish Giving Scheme which includes an element of Gift Aid claimed directly by them of £19,693 (2024: £21,100).
|laimed directly by them of £19,693 (2024: £21,100).||
|---|---|
|a
Donations in kind comprise:
Food donated for:
Distribution to beneficiaries|**2025**
£
**2024**
£
92,485
10,400|
||**92,485**
**10,400**|
**4 Income from charitable activities**
|
**Income from charitable activities**||
|---|---|
|Church retreats and events
Wedding and funeral fees
Foodbank|**2025**
£
**2024**
£
7,743
6,317
14,089
12,783
-
6,084|
||**21,832**
**25,184**|
P a g e | 14
Cove Parochial Church Council
|**5**
**Income from other trading activities**
Letting and room hire
**6**
**Investment income**
Bank interest
**7**
**Transfer of net assets and activities**
Foodbank (note 19)
**8**
**Analysis of expenditure**
**a) Costs incurred directly on activities**
Administration and office costs
Building and facilities costs
Church services costs
Mission and events costs
Gifts and giving
Parish share
Staff salaries
Staff and clergy related costs
Youth and children's work
Foodbank food distribution
**b) Governance**
**Total expenditure**|Church
Activities
Foodbank
activities
19,310
40,476
53,547
13,233
12,781
-
10,705
-
7,742
-
91,983
-
57,703
45,010
46,913
1,355
1,627
-
-
104,973|**2025**
£
**2024**
£
21,762
15,061|
|---|---|---|
|||**21,762**
**15,061**|
|||**2025**
£
**2024**
£
10,326
11,174|
|||**10,326**
**11,174**|
|||**2025**
£
**2024**
£
-
270,478|
|||-
**270,478**|
|||
**2025**
£
**2024**
£
59,787
18,323
66,780
50,382
12,781
17,640
10,705
9,608
7,742
700
91,983
91,180
102,713
72,556
48,268
64,378
1,627
1,970
104,973
11,529|
||302,312
205,048
3,040
2,720|
**507,360**
**338,266**
5,760
2,400|
|||**513,120**
**340,666**|
The fee payable to the independent examiner for preparing and examining the accounts was £5,760 (including a £1,200 uplift to 2024 examination fees) (2024: £2,400 examination only).
P a g e | 15
Cove Parochial Church Council
|**c) Grants payable**
Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
The charity's principal grants to institutions comprised:
Church Mission Society
Cove Child Contact Centre
World Vision UK
The Source
Christians Against Poverty
Grants to institutions for less than £1,000 each
**9**
**Analysis of staff costs, the cost of key management**
Gross wages and salaries
Social security
Pension costs|Institutions
£
6,432
1,007|Individuals
£
**2025**
£
246
6,678
58
1,065|
|---|---|---|
||**7,439**|
**304**
**7,742**|
||Institutions
£
-
504|Individuals
£
**2024**
£
-
-
700
1,204|
||**504**|
**700**
**1,204**|
||**2025**
£
**2024**
£
1,500
-
1,864
-
1,500
-
1,500
-
1,007
67
504
**7,439**
**504**
**personnel and trustee remuneration**
**2025**
£
**2024**
£
99,938
69,792
387
-
2,389
1,591
**102,713**
**71,383**|**2025**
£
**2024**
£
1,500
-
1,864
-
1,500
-
1,500
-
1,007
67
504|
|||**7,439**
**504**|
|||**102,713**
**71,383**|
**9 Analysis of staff costs, the cost of key management personnel and trustee remuneration**
The average monthly number of employees during the year was 5.75 (2024: 5). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
Gemma Foster (who is a clergy member of the PCC) received a stipend from the Diocese and so is not an employee; some of the Parish Share paid to the Diocese is used to help meet the cost of this stipend and also the cost of accommodation provided (which is customary for clergy).
Phil Richardson and Anne Richardson (who were clergy members of the PCC until September 2025) received a stipend from the Diocese for their 50/50 job share and so they were not employees. The Diocese have recharged the costs of their employment to the church which totalled £27,854 (2024: £39,467). They were provided with accommodation (which is customary for clergy) and the cost of this accommodation to the PCC was £10,113 (2024: £14,400).
No member of the PCC received employment benefits in either the current or preceding year.
P a g e | 16
Cove Parochial Church Council
## **10 Tangible fixed assets**
|Cost
At 1 January 2025
At 31 December 2025
Accumulated depreciation
At 1 January 2025
Charge for the year
At 31 December 2025
Net book valu
At 31 December 2025
At 31 December 2024
**11**
**Fixed asset investments**
Fair value brought forward
Transfer during the year
Change in value of investments
Fair value carried forward|Equipment
Vehicles
**2025**
£
15,554
25,767
41,321|
|---|---|
||15,554
25,767
**41,321**|
||12,526
-
12,526
2,011
4,295
6,306|
||14,537
4,295
**18,832**|
|||
||1,017
21,473
**22,489**|
||3,028
25,767
**28,795**
Quoted
Investments
**2025**
£
**2024**
£
64,867
64,867
61,865
(5,083)
(5,083)
-
(1,373)
(1,373)
3,002|
||**58,411**
**58,411**
**64,867**|
The charity holds Equities (measured at market value) investments. All investments are measured at market value, except for cash and bonds, which are measured at historical cost less any impairment. The investments measured at fair value are publicly traded and their fair value is determined using the quoted market prices as at the balance sheet date.
The transfer of investment during the year relates to the Bateman Trust Endowment Investment CCLA portfolio. This had previously been treated as a PCC owned asset, but during 2025 following discussions with advisors and the Diocese, this is transferred out of the PCC accounts as it is not controlled or owned by the PCC. The PCC recognises income from the trust as it becomes entitled to it, but the asset is held within the Diocesan portfolio of investment accounts.
|**12**
**Stock**
Donated goods:
For distribution to beneficiaries|**2025**
£
**2024**
£
30,626
36,838|
|---|---|
||**30,626**
**36,838**|
The stock valuation is based on a Trussell Trust recommended rate of £2.77 per kg, applied to 11,056kg of stock. (2024: £2.77 per kg, applied to 13,299 kg of stock). The majority of this stock comprises donated goods intended for onward distribution.
P a g e | 17
Cove Parochial Church Council
|**13**
**Debtors**
**Falling due within one year:**
Trade debtors
Gift aid recoverable
Other debtors
Prepayments and accrued income
**14**
**Current asset investments**
Cash equivalent deposits
**15**
**Cash at Bank and in Hand**
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Petty cash
**16**
**Creditors: liabilities falling due within one year**
Trade creditors
Taxation and social security
Accruals
Agency collections|**2025**
£
**2024**
£
5,431
2,881
14,822
12,160
1,667
-
2,589
-|
|---|---|
||**24,508**
**15,041**|
||**2025**
£
**2024**
£
-
5,000|
||**-**
**5,000**|
||**2025**
£
**2024**
£
262,459
289,610
85,093
85,093
80
80|
||**347,633**
**374,783**|
||**2025**
£
**2024**
£
11,077
18,627
2,385
2,206
32,269
6,545
-
5,151|
||**45,731**
**32,529**|
## **17 Pension commitments**
## _**The Church Workers Pension Fund (CWPF)**_
The PCC participates in the Pension Builder Scheme section of CWPF for lay staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the PCC and the other participating employers.
The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, which comprises a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014.
Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed
P a g e | 18
Cove Parochial Church Council
by the Church of England Pensions Board from time to time. Discretionary increases may be added before retirement, depending on investment returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum that 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 contributions are accounted for as if the Scheme were a defined contribution scheme. The pension contributions payable for the year, which have been charged to the Statement of Financial Activities, were £2,389 (2024: £1,591).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022.
For the Pension Builder Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.
For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.
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.
## **18 Funds**
During the year the movements in the charity's funds were as follows:
|**_Designated Funds_**
Building and facilities- Parish
hall
Occasional services - baptism,
wedding, funeral
Christmas hamper
Traffic calming grant
Parish reserve
**_General Unrestricted Funds_**
**_Total Unrestricted Funds_**|Opening
balance
2025
£
Incoming
resources
2025
£
Outgoing
resources
2025
£
Transfers
in the year
2025
£
Gains and
losses
2025
£
**Closing**
**balance**
**2025**
£
3,070
15,311
(17,210)
-
-
1,171
2,964
14,089
(7,483)
7,190
-
2,380
66
-
(66)
-
-
-
1,800
-
-
1,800
-
-
56,157
-
(5,083)
10,386
(1,373)
60,087|
|---|---|
||64,057
29,400
(29,841)
1,396
-
**63,638**
16,296
232,828
(233,249)
(1,674)
-
**14,202**|
||**80,353**
**262,228**
**(263,090)**
**(278)**
**(1,373)**
**77,840**|
P a g e | 19
Cove Parochial Church Council
|**_Restricted Funds_**
90th year fundraising
Administration support
Agency funds special
collections
Bateman trust
Cake fund
Christ church - facilities fund
Children's, youth, school's and
family worker
Church and community worker
(a)
COMMS - service streaming
Cove ed grant & children and
youth
Cove village fayre
Discretionary fund
Footprints
Foodbank
Facilities, Fabric & Grounds
Fund
Ignite fund
Marshall trust
Open door
Parish hall - investment
Special collections - music
fund
Warm hub
Events fund
Wooden structure
Traffic calming grant (b)
Ministry development fund
**_Total Restricted Funds_**
**Aggregate of funds**|Opening
balance
2025
£
Incoming
resources
2025
£
Outgoing
resources
2025
£
Transfers
in the year
2025
£
Gains and
losses
2025
£
**Closing**
**balance**
**2025**
£
16,015
533
(1,360)
-
-
15,188
5,692
2,607
(6,530)
(124)
-
1,645
382
2,635
(2,838)
(180)
-
-
403
147
(78)
124
-
596
87
-
(88)
1
-
-
48,332
-
(1,063)
-
-
47,269
32,872
8
(19,473)
-
-
13,407
1,693
2,705
(2,546)
(1,693)
-
160
4,033
-
-
-
-
4,033
4,608
-
(973)
21
-
3,656
535
-
-
-
-
535
2,375
4,082
(58)
-
-
6,399
3,375
3,000
(4,433)
-
-
1,942
254,521
180,337
(207,815)
329
-
227,372
-
450
(450)
-
-
-
5,529
-
-
-
-
5,529
3,730
4,584
(5,872)
-
-
2,442
-
-
-
-
-
-
25,717
-
-
-
25,717
1,262
-
(137)
-
-
1,125
67
-
(67)
-
-
-
214
-
(214)
-
-
-
1,000
-
-
-
-
1,000
-
-
-
1,800
-
1,800
-
1,400
(1,120)
-
-
280|
|---|---|
||412,442
202,489
(255,113)
278
-
**360,096**|
|||
||**492,795**
**464,717**
**(518,203)**
**-**
**(1,373)**
**437,936**|
The transfers referred to above were made for the following reasons: a) Transfer of restricted costs related to church community worker previously covered by general unrestricted funds.
b) Transfer of restricted grant from designated fund to restricted fund to accurately reflect its restricted nature.
P a g e | 20
Cove Parochial Church Council
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Investments
Stock
Debtors
Investments held as current assets
Cash at bank and in hand
Creditors falling due within one year||Unrestricted Funds
General
funds
£
Designated
funds
£
Restricted
funds
£
**2025**
£
22,489
-
-
**22,489**
-
32,694
25,717
**58,411**
-
-
30,626
**30,626**
14,507
5,230
4,770
**24,508**
-
-
-
**-**
557
26,497
320,579
**347,633**
(23,351)
(783)
(21,597)
**(45,731)**|
|---|---|---|
|||14,202
63,638
360,096
**437,936**|
In the previous year the movements in the charity's funds were as follows:
|**_Designated Funds_**
Building and facilities- Parish
hall
Occasional services - baptism,
wedding, funeral
Events and missions
Christmas hamper
Traffic calming grant
Parish reserve
**_General Unrestricted Funds_**
**_Total Unrestricted Funds_**|Opening
balance
2024
£
Incoming
resources
2024
£
Outgoing
resources
2024
£
Transfers
in the year
2024
£
Gains and
losses
2024
£
**Closing**
**balance**
**2024**
£
2,090
11,015
(10,035)
-
-
**3,070**
-
12,783
(9,819)
-
-
**2,964**
-
-
(109)
109
-
**-**
65
65
(64)
-
-
**66**
1,800
-
-
-
-
**1,800**
56,157
-
-
-
-
**56,157**|
|---|---|
||60,112
23,863
(20,027)
109
-
**64,057**
65,408
209,808
(255,332)
(6,590)
3,002
**16,296**|
||**125,520**
**233,671**
**(275,359)**
**(6,481)**
**3,002**
**80,353**|
P a g e | 21
Cove Parochial Church Council
|**_Restricted Funds_**
90th year fundraising
Administration support
Agency funds special
collections
Bateman trust
Building and facilities - St John
Cake fund
Christ church - facilities fund
Children's, youth, school's and
family worker
Church and community worker
COMMS - service streaming
Cove ed grant & children and
youth
Cove village fayre
Discretionary fund
Footprints
Foodbank
Ignite fund
Marshall trust
Open door
Parish hall - investment
Flowers and sundries
Special collections - music
fund
Warm hub
Events fund
Wooden structure
**_Total Restricted Funds_**
**Aggregate of funds**|Opening
balance
2024
£
Incoming
resources
2024
£
Outgoing
resources
2024
£
Transfers
in the year
2024
£
Gains and
losses
2024
£
**Closing**
**balance**
**2024**
£
-
16,015
-
-
-
16,015
-
5,692
-
-
-
5,692
263
119
-
-
-
382
-
403
-
-
-
403
(717)
(240)
(5,370)
6,327
-
-
-
100
(13)
-
-
87
48,643
-
(311)
-
-
48,332
46,483
6,759
(20,370)
-
-
32,872
133
1,560
-
-
-
1,693
4,353
197
(517)
-
-
4,033
4,670
1,700
(1,762)
-
-
4,608
535
-
-
-
-
535
1,403
1,672
(700)
-
-
2,375
561
5,985
(3,171)
-
-
3,375
-
280,878
(26,357)
-
-
254,521
5,408
179
(58)
-
-
5,529
4,006
5,097
(5,373)
-
-
3,730
651
-
(781)
130
-
-
25,717
-
-
-
-
25,717
-
500
(524)
24
-
-
1,262
-
-
-
-
1,262
67
-
-
-
-
67
214
-
-
-
-
214
1,000
-
-
-
-
1,000|
|---|---|
||144,652
326,616
(65,307)
6,481
-
**412,442**|
|||
||**270,172**
**560,287**
**(340,666)**
**-**
**3,002**
**492,795**|
## **Fund transfers:**
Building & Facilities - St John: Funds were transferred from General unrestricted funds to top up the fund balance to nil.
P a g e | 22
Cove Parochial Church Council
## **Analysis of net assets by fund**
In the previous year, the assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Investments
Stock
Debtors
Investments held as current assets
Cash at bank and in hand
Creditors falling due within one year||Unrestricted Funds
General
funds
£
Designated
funds
£
Restricted
funds
£
**2024**
£
28,795
-
-
**28,795**
-
-
64,867
**64,867**
36,838
-
-
**36,838**
15,041
-
-
**15,041**
-
-
5,000
**5,000**
(31,849)
64,057
342,575
**374,783**
(32,529)
-
-
**(32,529)**|
|---|---|---|
|||16,296
64,057
412,442
**492,795**|
Fund descriptions
## **Designated funds**
Building and facilities- Parish hall: Occasional services - baptisms, weddings, funerals: Parish reserve:
Parish Hall designated annual income and running expenses.
Designated fund for ease of admin during parochial administration for our weddings, baptisms and funeral services.
Designated fund for the Parish's longer term reserves.
## **Restricted funds**
90th year fundraising:
Administration support:
Agency funds special collections:
Bateman trust:
Building and facilities - St John:
Cake fund:
Christ church - facilities fund:
Children, youth, school and family worker:
Church and community worker:
COMMS - service streaming:
Cove ed grant & children and youth:
Funds raised for the 90th year birthday celebration for Parish facilities and mission projects.
Funds raised for specific administration support.
Fund to hold money collected for outside charities short term until payment are made.
Funds to care for the Bateman grave and the churchyard - from an investment fund for this purpose.
Fund to collate donations for the build of the extension on the church and other relevant building projects. The fund has now been closed.
Fund for cakes for our mission events.
Donations towards new buildings and facilities for Christ Church.
Funds for paying wages and resources for a school and family worker.
Donations given to support our church community worker.
Funds to invest in the Church's online streaming services live to people across the parish via Youtube and other media platforms.
Funds for children and youth provision.
P a g e | 23
Cove Parochial Church Council
|Cove village fayre:|Funds to cover upfront costs for Cove Village Fayre.|
|---|---|
|Discretionary fund:|Fund that supports members of the parish who may find|
||themselves in financial need.|
|Footprints:|Donations and grants received for our weekly community cafés run|
||at St John's and Christ church are recognised in this fund.|
||Expenses specifically for Footprints are charged to this fund.|
|Foodbank:|Fund for the management and operation of the Farnborough|
||Foodbank. All income and expenses specifically for the Foodbank|
||are managed through this fund. The fund operates with its own|
||bank and savings accounts.|
|Facilities, Fabric & Grounds Fund:|Fund to collate donations to support projects related to the|
||maintenance, build or refurbishment of the facilities, fabric or|
||grounds of the parish buildings.|
|Ignite fund:|Funds for Ignite worship team and events.|
|Marshall trust:|Interest gained from the investment fund and is used to pay for the|
||care of the Marshall grave and the church yard.|
|Open door:|Fund for weekly event to provide a place for those requiring|
||support. This activity is now a regular part of the mission work of|
||the church, and the fund has now been closed.|
|Parish hall - investment:|Fund for the Parish Hall proportion of funds held within the CCLA|
||Investment Fund. Used to fund projects to improve facilities|
|Flowers and sundries:|Donations restricted for flower arrangements produced by church|
||volunteers.|
|Special collections - music fund:|Funds towards the purchase of music or licences.|
|Warm hub:|Fund to support a community warm hub operating in the Parish|
||during the energy crisis of 2022. The service is no longer required|
||and the fund has now been closed.|
|Events fund:|Funds towards events within the parish.|
|Wooden structure:|Funds for a wooden structure to be erected at St Johns Church.|
|Ministry development fund:|Fund for projects related to parish mission activities and staff|
||development.|
## **19 Transfer of charitable activities**
On 30 November 2024, Cove Parochial Church Council (PCC) acquired the net assets and charitable activities of Farnborough Foodbank (Charity Registration Number: 1143212), following a formal transfer agreement.
As part of this transaction, the following items were transferred into the charity’s control and operation in 2024:
- Two bank accounts with cash balances of: £123,444 and £83,300 (Total: £206,744)
- An electric van with an estimated net book value of £25,767. This was recognised as a tangible fixed asset. The van was not depreciated during 2024 as it was only held for one month (December). Depreciation commenced from January 2025 on a straight-line basis over its remaining useful life.
- Stock with an estimated operational value of £37,966. This valuation is based on a Trussell Trust rate of £2.77 per kg, applied to 13,706 kg of stock.
The following assets and resources also transferred to Cove PCC but were not assigned a measurable fair value and therefore have not been recognised in the financial statements:
- Warehouse infrastructure, racking, and uniform
P a g e | 24
Cove Parochial Church Council
- Office furniture and computer equipment
Additionally, the warehouse premises from which the foodbank operates were included in the operational transfer but are leased and not owned, and thus no asset value was recognised.
The transfer was accounted for as a gift of net assets. The cash, stock and van transferred have been recognised as donations and legacies in the Statement of Financial Activities in the prior year, totalling £270,478, with a corresponding increase in the relevant funds.
## **20 Transactions with related parties**
During the year the charity:
a) received donations totalling £63,639 (2024: £38,706) from related parties (which includes members of the PCC, any other members of key management and anyone closely connected to them).
b) paid expenses totalling £5,275 (2024: £8,959) to 11 (2024: 10) non-clergy members of the PCC for travel costs, attending conferences, organ playing, and expenses for charitable activities whilst carrying out duties associated with being PCC members; reimbursements for expenses incurred when acting as agent for the charity or incurred when undertaking employment duties not connected with serving as a PCC member are not included in this disclosure.
c) received grant income totalling £nil (2024: £1,700) from Cove Educational Trust, which is considered a related party due to due to Kirsty Paddon, Jeff Pyatt (until resignation) and Jacquie Snuggs being mutual trustees.
P a g e | 25
Cove Parochial Church Council
## Detailed Statement of Financial Activities
For the Year Ended 31 December 2025.
**----- Start of picture text -----**
£
- -
Total 2024 238,390 25,184 15,061 11,174 270,478 560,287 340,666 340,666 3,002 222,623 222,623 270,172 492,795
£
- -
Restricted 2024 40,238 10,400 5,500 270,478 326,616 65,307 65,307 261,309 6,481 267,790 144,652 412,442
£
Designated 2024 65 12,783 11,015 - - 23,863 20,027 - 20,027 3,836 109 3,945 60,112 64,057
£
- -
2024
Unrestricted funds General 198,087 2,001 4,046 5,674 209,808 255,332 255,332 3,002 (42,522) (6,590) (49,112) 65,408 16,296
£
- -
Total 2025 410,798 21,832 21,762 10,326 464,717 513,120 5,083 518,203 (1,373) (54,859) (54,859) 492,795 437,936
£
- - - - -
Restricted 2025 197,734 4,755 202,489 255,113 255,113 (52,624) 278 (52,346) 412,442 360,096
£
- - -
Designated 2025 14,089 15,311 29,400 24,758 5,083 29,841 (1,373) (1,814) 1,396 (419) 64,057 63,638
£
- - -
Unrestricted funds General 2025 213,064 7,743 6,451 5,570 232,828 233,249 233,249 (421) (1,674) (2,094) 16,296 14,202
Note 3 4 5 6 7 8 11 18 18
INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable activities Other trading activities Investments Transfer of net assets and activities Total income and endowments EXPENDITURE ON: Charitable activities: Other Total Expenditure Net gains/(losses) on investments Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward
**----- End of picture text -----**
P a g e | 26