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← The Parochial Church Council Of The Ecclesiastical Parish Of St Andrew And St Cuthman Steyning

2024-12-31-accounts

Annual Report and Financial Statements

for the Year Ended 31 December 2024

The Parochial Church Council of the Ecclesiastical Parish of St Andrew and St Cuthman Steyning

Charity registration number: 1132913

Independent Examiners Ltd 2 Broadbridge Business Park Delling Lane Bosham Chichester West Sussex PO18 8NF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

CONTENTS

Reference and Administrative Details 1
Trustees' Report 2 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 to 25

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees

The Revd Fr Mark Heather LLB, BA, Incumbent

Sarah Lavery, Churchwarden

Bill Thomson, (resigned as Churchwarden 21 April 2024, remained on PCC)

John Edwards, Treasurer

Brian Hanson

Penny Warner John Downe Judie Thomson

Derek Vine

Christine Aubrey Len Warner

Stephen Holliday

Liz Trundle, Secretary

Kate Burnett, Churchwarden (appointed 21 April 2024) Christina Hobbs (appointed 21 April 2024) Adrian Bamforth (appointed 17 July 2024)

Charity Registration Number

1132913

Principal Office

Independent Examiner

Bankers

Penfold Church Hall Church Street Steyning West Sussex BN44 3YB

G W Schulz FCMA Independent Examiners Ltd 2 Broadbridge Business Park Delling Lane Bosham Chichester West Sussex PO18 8NF Lloyds Bank plc PO Box 1000 BX1 1LT

Page 1

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

TRUSTEES' REPORT

Steyning Parochial Church Council (PCC) is a registered charity. Members of the PCC, who are the Trustees of the charity, are either ex-officio, elected by the APCM (Annual Parochial Church Meeting) in accordance with the Church Representation Rules or co-opted.

The Trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024.

Objectives and activities

Objects and aims

The objects of the charity are, in cooperation with the incumbent, to further the whole mission of the church both pastorally and socially in the ecclesiastical parish of Steyning. It also has maintenance responsibilities for the church buildings and for the Penfold Hall, and for matters concerned with health and safety, disability and safeguarding.

Public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to supplementary public benefit guidance.

Activities for achieving objectives

The PCC consider that they can best achieve these objects by providing the means to enable all those living within the parish to explore and live out their Christian faith, in particular by regular worship, prayer and teaching of the gospel and by the provision of pastoral care. When planning activities they have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.

Achievements and performance

Worship and Study

Services followed their normal cycle with the music group Eucharist and choral evensong on the third Sunday of each month. 12 people receive Communion at home. Children sometimes enact the gospel at the music group service. Early admission of children to Communion is being considered. Reflections services held at 6.00pm on the first Sunday of each month with a particular theme and a quiet, listening atmosphere continue to be put together by a team of lay people. An evening Taizé service has been introduced on the fourth Sunday of the month. A pet service was held. New worshippers have increased adult attendance. The welcome pack has been updated and a worship survey and a skills audit have enabled the views and interests of the congregation to be considered.

During Holy Week, devotions alternated between Steyning and Ashurst, and the Requiem by John Rutter was sung by the church choir and others from Steyning.

Page 2

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

TRUSTEES' REPORT (CONTINUED)

On 2 June, an evening service concluded the Steyning Festival. Other churches joined us for Darkness to Light on Advent Sunday (165 attended). The Nine Lessons and Carols (213 attended), a Christingle service (51 attended) school services (1259 attended) and two crib services (557) led up to Christmas.

Sermons are available online and are transcribed and sent out with the magazine to those without mobility or online access. ‘Open the Book’ dramas continued in the Primary School where the Vicar, other speakers and the church music group attend assemblies. Members of the church help with reading in the school.

Four weddings, 21 funerals and five baptisms were held in church during the year. There were 181 on the Electoral Roll.

House groups and the men’s group continued. A group attended a course on the Lord’s Prayer in the context of the Year of the New Testament and will continue to meet as a house group.

Families and Children’s Work

A key element of the Five-Year Vision was achieved when Gary Pickett started full-time work on 31 August, encouraging volunteers to work with him in church and at Steyning Primary School. A mothers’ and toddlers’ group (Little Stars) now meets on Mondays. A Halloween drop in provided fellowship and refreshment and a Christmas pudding ‘stir up’ was held at Advent. Many children attended the Christmas services and junior church is planned on Sunday mornings in 2025.

Fundraising Activities for Mission

Fourteen charities benefitted from the funds raised at Wednesday coffee, open gardens and other events and from red bucket and other collections including at the Remembrance, Battle of Britain and Crib Services.

Community Activities

Our church magazine aims to appeal to a wide readership across Steyning and in our sister parish of Ashurst. It is now printed in full colour in house and is available from four distribution points as well as both churches. In October, we were pleased to receive an annual award from ACE, the specialist Association of Church Editors, for our magazine’s appeal to its intended readership.

A church team continued to serve coffee on Wednesday mornings in the Penfold Hall, providing a warm, friendly atmosphere to a mainly elderly clientele, some of whom go on to the 11.30 Eucharist in church.

Following the course in 2023, pastoral care volunteers were inaugurated at a service on 2 June. This work has been extended with the start of a Grief Café in November.

The Friends of Steyning Parish Church promote events and raise funds to improve the church building.

Page 3

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

TRUSTEES' REPORT (CONTINUED)

An enthusiastic team helps Horsham District Council maintain the churchyard in a way that encourages biodiversity.

Greening Steyning continues to keep the Community Fridge in Church Cottage which is manned on two occasions each week so that anyone can collect food to prevent it being thrown away at its sell-by date.

Church Cottage was again used by Steyning Artists as part of their annual art trail taking place across the town.

Concerts

The church hosted six concerts as part of the Steyning Festival at the end of May. The Hanover Band performed all six of Bach’s Brandenburg Concertos in June and a professional quartet gave their annual ‘Voice of Christmas’ concert. Other concerts were given by Chanctonbury Chorus, Cantelina and Shoreham Chamber Choir.

Financial review

Reserves Policy

The PCC believes, that in view of its responsibility for the upkeep of a Grade I listed building, a substantial Building Fund should be maintained from which expenditure on major repairs and improvements to all the church’s properties will be met. The reserve should not fall below £100,000 to cover unexpected repairs. The Local Mission Fund will be used to support outreach and mission in the community, the Deanery and the Diocese. Interest earned from the church’s financial assets will be paid into the Local Mission Fund. Any deficit in the Local Mission Fund will be covered by the Building Fund. Any deficit in the General Fund will be covered by the Building Fund.

During 2020 the PCC changed the name of the Outreach Fund to the Local Mission Fund.

The Special Projects Fund will be used to extend, repair and improve equipment and furnishings.

The Chancel Fund contains the accumulated income from a fund held by the Diocese and in 2019 was shown as a Restricted Fund. The Diocese has transferred this accumulated income as a grant to the PCC for expenditure on chancel repairs and insurance and it is now shown as a Designated Fund.

The Property Fund reflects the value of the church’s investment in properties.

In September 2022 the PCC agreed that money held by the bellringers should be incorporated into the PCC’s accounts. A Restricted Bells Fund was established.

A Restricted Away Giving Fund was set up in January 2023 to separate red bucket and other collections and grants for Overseas and Home Mission from the General Fund.

Page 4

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

TRUSTEES' REPORT (CONTINUED)

Legacy Policy

Subject to any specific requirements of the donor, legacies will not be used to fund the day-to-day running expenses of the church. Major legacies (over £5,000) will be placed in the Church Building Fund whilst other legacies will be placed in the Special Projects Fund.

Investment Policy

Generally the reserves will be held on deposit with the Central Board of Finance of the Church of England or with our bankers but might from time to time be invested in other investments offered by the Central Board. The PCC is satisfied the the Central Board of Finance has adopted suitable ethical objectives in selecting investments.

Principal Funding 2024

In 2024 total incoming resources in all funds exceeded expenditure by £199,900. £48,116 of this has enabled the PCC to commit to the Family and Children’s Worker, Gary Pickett, who started on 31 August. A legacy of £68,000 and donations of £88,000 have enabled the design and planning of repairs to the church tower roof and to the Penfold Hall.

In the General Fund , planned giving totalled £69,318 compared with £61,442 in 2023 and £57,858 in 2022, thanks to new givers and a generous giving campaign in the autumn. Rents on the Shooting Field were £10,692. Fees from weddings and funerals were £3,264 a little lower than £4,395 in 2023. Total income increased by 12% to £114,901 compared with 2023. Because of the General Fund deficits of £9,260 in 2023 and £8,591 in 2022, the Diocesan Parish Share remained at £69,690. Church running costs of £5,974 in 2024 were a little less than 2023 and office costs were £8,078 compared with £7,800. Total General Fund expenditure was £112,751, £72 less than 2023 and, combined with the generosity of the congregation, there was a welcome surplus of £1,783 at the year end. Because of the improved finances, the PCC has pledged £75,000 for the Parish Share in 2025.

Donations and Gift Aid for the Families and Children’s Worker (FCW) fundraising is held in the Local Mission Fund and, having deducted costs since August, £67,572 remained at the year end. Further fundraising will be needed to meet the full costs of the three-year appointment and, hopefully, to extend it. Excluding FCW, the magazine and other outreach activities (£4,872) and Penfold Hall gas and electricty (£2,623) are financed by income from donations and interest from an account held by CCLA resulting in a surplus of £5,161 (excluding FCW).

A Restricted ‘Away Giving’ Fund was set up for 2023 to separate red bucket and other collections for mission charities from other income and expenditure. Grants made to Overseas and Home Mission totalled £5,833 compared with £6,482 in 2023 and £6,777 in 2022.

The Building Fund balance at the end of the year was £320,988. Income totalled £158,778 compared with £33,926 in 2023. The only expenditure in 2024 was £1,527 on fees for design of the tower repairs.

Page 5

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

TRUSTEES' REPORT (CONTINUED)

Penfold Hall structural repairs : Thanks to the generosity of the Wilson Trust this has progressed. The need to remove asbestos has increased the total cost of the scheme to £121,170 including fees and VAT which cannot be reclaimed. The trees which contributed to the subsidence have been removed and the contract preparation fees paid. The work will have started at the end of January 2025 with the cost to be shared between the Wilson Memorial Trust (£50,000), the Penfold Hall Fund (Georgemill Trust legacy) (£14,576) and the Building Fund (£54,500).

Stewardship

The 2023 Report and Accounts stated that an increase of 12% in planned giving with Gift Aid (£1.80/week per planned giver) would be needed to avoid a deficit in the General Fund. Planned giving with Gift Aid has totalled £86,747 in 2024, an increase of £9,890 on 2023 (+12.9%).

The number of regular givers using the Parish Giving Scheme (PGS) has increased from 49 to 89 during the year. PGS collect and pass on the Gift Aid each month and payment by Direct Debit provides an opportunity for an annual increase for inflation.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Structure, governance and management

Constitution

The principal object of the charity is the advancement of the Christian Faith.

Method of appointment and election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.

Organisational structure

The work of the PCC is carried out mainly through its committees which are:

The Standing Committee: This committee has power to transact the business of the PCC between meetings, subject to any directions given by the PCC, and consists of the Incumbent, Vice Chairman, Churchwardens, Secretary, Treasurer and an invited member of the PCC. Team leaders from the 5 year Plan join the Standing Committee as a steering group for the implementation of the Plan.

The Finance Committee: This committee, which meets under the chairmanship of the Treasurer, is responsible for matters relating to the finances of the church, including stewardship, and of the Penfold Hall.

Page 6

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

TRUSTEES' REPORT (CONTINUED)

The Fabric Committee: This committee is responsible for the church building and oversight of the churchyard.

The Social and Catering Committee: This committee plans and organises the church’s social activities and catering after major church services.

The appointed Safeguarding and Health and Safety Representatives report directly to the PCC and attend meetings as required.

PCC Meetings

The PCC held 7 business meetings during the year. At these meetings the PCC received reports on the 5 Year Plan, worship, fabric, finances, risk management, safeguarding, communications, Deanery and church school matters. Average attendance was 75%.

Risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that the systems and procedures are in place to mitigate exposure to the major risks.

The Charity Commission encourages all charities to review and assess the risks relating to its activities. Detailed risk assessments have been carried out before any applicable activity has commenced in the church and before contractors undertake work.

Financial risks continue to be considered carefully alongside the reserves policy when estimates and fundraising needs are considered for the Church tower and Penfold Hall repairs and for the proposed toilets and other improvements to the church.

Safeguarding policies and procedures continue to be reviewed and developed.

In 2024, there were no serious incidents to report.

Page 7

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

TRUSTEES' REPORT (CONTINUED)

Statement of Responsibilities

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

The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees 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.

The annual report was approved by the Trustees of the charity on 18 May 2025 and signed on its behalf by:

......................................... ......................................... The Revd Fr Mark Heather LLB, BA John Edwards Trustee Trustee

Page 8

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report to the Trustees on my examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of St Andrew and St Cuthman Steyning for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity Trustees of The Parochial Church Council of the Ecclesiastical Parish of St Andrew and St Cuthman Steyning 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 The Parochial Church Council of the Ecclesiastical Parish of St Andrew and St Cuthman Steyning's accounts carried out under section 145 of the 2011 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 Parochial Church Council of the Ecclesiastical Parish of St Andrew and St Cuthman Steyning'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 Chartered Institute of Management Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of The Parochial Church Council of the Ecclesiastical Parish of St Andrew and St Cuthman Steyning 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 accounting 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.

...................................... G W Schulz FCMA Independent Examiners Ltd

18 May 2025

Page 9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Unrestricted
funds
£
Income and Endowments from:
Donations and legacies
2
309,968
Charitable activities
3
3,265
Other trading activities
4
246
Investment income
5
22,594
Other income
6
264
Total income
336,337
Expenditure on:
Raising funds
(1,379)
Charitable activities
(132,806)
Total expenditure
(134,185)
Net
income/(expenditure)
202,152
Gross transfers between
funds
(367)
Net movement in funds
201,785
Reconciliation of funds
Total funds brought
forward
874,820
Total funds carried
forward
16
1,076,605		 Restricted
funds
£
5,856
-
-
279
-
6,135
-
(8,387)
(8,387)
(2,252)
367
(1,885)
32,300
30,415		 Total
2024
£
315,824
3,265
246
22,873
264
342,472
(1,379)
(141,193)
(142,572)
199,900
-
199,900
907,120
1,107,020		 Total
2023
£
141,808
4,395
168
16,168
3,006
165,545
(8,855)
(168,078)
(176,933)
(11,388)
-
(11,388)
918,508
907,120

The notes on pages 12 to 25 form an integral part of these financial statements. Page 10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

BALANCE SHEET AS AT 31 DECEMBER 2024

Note
Fixed assets
Tangible assets
12
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: Amounts falling due within one year
15
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
16		 2024
£
485,000
180,000
665,000
742
448,354
449,096
(7,076)
442,020
1,107,020
30,415
1,076,605
1,107,020		 2023
£
485,000
180,000
665,000
12,815
244,978
257,793
(15,673)
242,120
907,120
32,300
874,820
907,120

The financial statements on pages 10 to 25 were approved by the Trustees, and authorised for issue on 18 May 2025 and signed on their behalf by:

......................................... The Revd Fr Mark Heather LLB, BA Trustee

......................................... John Edwards Trustee

The notes on pages 12 to 25 form an integral part of these financial statements. Page 11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Statement of compliance

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.

Basis of preparation

The Parochial Church Council of the Ecclesiastical Parish of St Andrew and St Cuthman Steyning meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

The notes on pages 12 to 25 form an integral part of these financial statements. Page 12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Donated services and facilities

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Gift aid

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

The notes on pages 12 to 25 form an integral part of these financial statements. Page 13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Grant expenditure

Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the Statement of Financial Activities once the recipient of the grant has provided the specific service or output.

Grants payable without performance conditions are recognised in the accounts when a commitment has been made and communicated to the recipient, and there are no conditions to be met relating to the grant which remain in the control of the charity.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Consecrated and beneficed property of any kind is excluded from the accounts by virtue of section 10(2) of the Charities Act 2011. Costs associated with the maintenance or improvement of such assets are written off in the year they are incurred.

Freehold property owned by the charity is included in the financial statements at its historical deemed cost and depreciated by writing off the difference between the cost and the estimated residual value over the useful economic life. It is the PCC's policy to maintain these assets in a continual state of sound repair. The useful economic life of these assets is so long and residual value so high that any depreciation would not be material. These assets are subject to annual impairment reviews. Provision will be made if there has been any permanent diminution in value.

Depreciation and amortisation

Other tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Asset class Freehold property

Depreciation method and rate Not material

The notes on pages 12 to 25 form an integral part of these financial statements. Page 14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined regularly by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Fixed asset investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of financial activities.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Liabilities

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Fund structure

Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

The notes on pages 12 to 25 form an integral part of these financial statements. Page 15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2 Income from donations and legacies

Unrestricted funds
Designated
£
General
£
Donations and legacies;
Collections
-
5,971
Donations
127,029
6,824
Planned giving
-
69,318
Legacies
68,083
-
Gift aid reclaimed
15,315
17,428
Grants, including capital
grants;
Grants
-
-
210,427
99,541		 Restricted
funds
£
297
5,454
-
-
105
-
5,856		 Total
2024
£
6,268
139,307
69,318
68,083
32,848
-
315,824		 Total
2023
£
6,915
49,684
61,442
-
23,685
82
141,808

3 Income from charitable activities

Fees Unrestricted funds
Designated
£
General
£
-
3,265		 Total
2024
£
3,265		 Total
2023
£
4,395

The notes on pages 12 to 25 form an integral part of these financial statements. Page 16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

4 Income from other trading activities

Trading income;
Bookstall sales
Events income;
Social events		 Unrestricted funds
Designated
£
General
£
-
150
-
96
-
246		 Total
2024
£
150
96
246		 Total
2023
£
158
10
168

5 Investment income

Unrestricted funds
Designated
£
General
£
Interest receivable and
similar income;
Interest receivable on
bank deposits
11,009
893
Rent (Shooting Field)
-
10,692
11,009
11,585		 Restricted
funds
£
279
-
279		 Total
2024
£
12,181
10,692
22,873		 Total
2023
£
5,709
10,459
16,168

6 Other income

VAT refunds
Insurance claim		 Unrestricted funds
Designated
£
General
£
-
264
-
-
-
264		 Total
2024
£
264
-
264		 Total
2023
£
2,572
434
3,006

The notes on pages 12 to 25 form an integral part of these financial statements. Page 17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

7 Expenditure on raising funds

a) Costs of generating donations and legacies

Stewardship
Social events		 Unrestricted funds
Designated
£
General
£
-
73
-
1,107
-
1,180		 Total
2024
£
73
1,107
1,180		 Total
2023
£
253
839
1,092

b) Costs of trading activities

Unrestricted funds
Designated
£
General
£
Bookstall
-
199
-
199
c) Other costs of generating donations and legacies
Unrestricted funds
Designated
£
General
£
Fundraising consultants
-
-		 Total
2024
£
199
199
Total
2024
£
-		 Total
2023
£
209
209
Total
2023
£
7,554

The notes on pages 12 to 25 form an integral part of these financial statements. Page 18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

8 Expenditure on charitable activities

Unrestricted funds
Note
Designated
£
General
£
Diocesan parish
share
-
69,690
Clergy expenses
-
7,087
Families and
Children's work
1,539
-
Service costs
-
2,055
Music
-
972
Parish activities
1,078
311
Parish magazine
3,794
-
Maintenance and
repairs
218
3,794
North aisle roof
repairs
-
-
Church running
expenses
-
5,974
Office costs
-
3,887
Professional fees
1,527
-
Insurance
-
3,810
Training
64
-
Penfold Hall
2,623
-
Cottage
-
921
Local refugee
support
666
-
Independent
examination
-
1,260
Grant funding of
activities
9
-
700
Staff costs
11
9,925
10,911
21,434
111,372		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
2,394
-
-
860
-
-
-
5,133
-
8,387		 Total
2024
£
69,690
7,087
1,539
2,055
972
1,389
3,794
4,012
-
5,974
3,887
3,921
3,810
64
3,483
921
666
1,260
5,833
20,836
141,193		 Total
2023
£
69,960
6,089
-
2,843
1,502
2,711
2,528
9,605
13,076
6,237
5,331
18,425
4,071
1,949
3,056
773
1,851
1,200
6,482
10,389
168,078

The notes on pages 12 to 25 form an integral part of these financial statements. Page 19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

9 Grant-making

Analysis of grants

Grants to Overseas and Home Mission Grants to institutions
2024
£
2023
£
5,833
6,482

10 Trustees remuneration and expenses

During the year, no Trustees received any remuneration (2023 - £NIL). During the year, no Trustees received any benefits in kind (2023 - £NIL). During the year, 5 Trustees received reimbursement of expenses amounting to £9,265 (2023 - 4 Trustees received £9,356).

11 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2024
£
19,821
811
204
20,836		 2023
£
10,389
-
-
10,389

The monthly average number of persons employed by the charity during the year expressed as full time equivalents was as follows:

expressed as full time equivalents was as follows:
2024 2023
No No
Staff 3 2

No employee received emoluments of more than £60,000 during the year

The notes on pages 12 to 25 form an integral part of these financial statements. Page 20

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

12 Tangible fixed assets

Cost
At 1 January 2024
At 31 December 2024
Depreciation
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
Valuation of Penfold Church Hall and Church Cottage.		 Land and
buildings
£
485,000
485,000
-
485,000
485,000		 Total
£
485,000
485,000
-
485,000
485,000

13 Fixed asset investments

Investment properties 2024
£
180,000		 2023
£
180,000

Valuation of Shooting Field leased to Steyning Town Football Club and the South East Cadets.

The 2017 valuations were made by Rackhams Surveyors Ltd, on an open market value for existing use basis.

The Trustees are of the opinion that the 2017 valuations are accepted as being the market values as at 31 December 2024.

The notes on pages 12 to 25 form an integral part of these financial statements. Page 21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

14 Debtors
Trade debtors
Prepayments
15 Creditors: amounts falling due within one year
Other creditors
Accruals		 2024
£
605
137
742
2024
£
118
6,958
7,076		 2023
£
12,815
-
12,815
2023
£
-
15,673
15,673

The notes on pages 12 to 25 form an integral part of these financial statements. Page 22

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

16 Funds

Unrestricted funds
General
General Funds
Designated
Church building fund
Local mission fund
Special projects fund
Property fund
Diocesan chancel fund
Total unrestricted
funds
Restricted funds
Youth fund
Organ/choir fund
Charity at home fund
New doors fund
Penfold hall fund
Bells fund
Away mission fund
Total funds		 Balance
at 1
January
2024
£
-
163,737
39,070
2,893
665,000
4,120
874,820
874,820
827
3,769
3,867
2,058
17,288
4,208
283
32,300
907,120		 Incoming
resources
£
114,901
158,778
61,811
631
-
216
221,436
336,337
31
61
110
77
175
588
5,093
6,135
342,472		 Resources
expended
£
(112,751)
(1,527)
(19,689)
(218)
-
-
(21,434)
(134,185)
-
-
-
-
(3,254)
-
(5,133)
(8,387)
(142,572)		 Transfers
£
(367)
-
-
-
-
-
-

(367)

-
-
-
-
367
-
-
367
-
 Balance
at 31
December
2024
£
1,783
320,988
81,192
3,306
665,000
4,336
1,074,822
1,076,605
858
3,830
3,977
2,135
14,576
4,796
243
30,415
1,107,020

The notes on pages 12 to 25 form an integral part of these financial statements. Page 23

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Unrestricted funds
General
General Funds
Designated
Church building fund
Local mission fund
Special projects fund
Property fund
Diocesan chancel fund
Total unrestricted
funds
Restricted funds
Youth fund
Organ/choir fund
Charity at home fund
New doors fund
Penfold hall fund
Bells fund
Away mission fund
Total funds		 Balance
at 1
January
2023
£
1
175,853
31,487
2,649
665,000
4,257
879,246
879,247
813
3,843
4,089
2,024
24,384
4,108
-
39,261
918,508		 Incoming
resources
£
103,565
33,926
18,893
1,911
-
363
55,093
158,658
14
26
48
34
350
100
6,315
6,887
165,545		 Resources
expended
£
(112,825)
(37,283)
(11,311)
(1,666)
-
-
(50,260)
(163,085)
-
(100)
(270)
-
(7,446)
-
(6,032)
(13,848)
(176,933)		 Transfers
£
9,259
(8,759)
-
-
-
(500)
(9,259)
-
-
-
-
-
-
-
-
-
-		 Balance
at 31
December
2023
£
-
163,737
39,069
2,894
665,000
4,120
874,820
874,820
827
3,769
3,867
2,058
17,288
4,208
283
32,300
907,120

The notes on pages 12 to 25 form an integral part of these financial statements. Page 24

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW AND ST CUTHMAN STEYNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

17 Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
-
485,000
-
180,000
1,782
416,899
-
(7,076)
1,782
1,074,823
Unrestricted funds
General
£
Designated
£
-
485,000
-
180,000
-
225,493
-
(15,673)
-
874,820		 Restricted
funds
£
-
-
30,415
-
30,415
Restricted
funds
£
-
-
32,300
-
32,300		 Total funds
2024
£
485,000
180,000
449,096
(7,076)
1,107,020
Total funds
2023
£
485,000
180,000
257,793
(15,673)
907,120

The notes on pages 12 to 25 form an integral part of these financial statements. Page 25