THE PARISH OF ST MAThHEW WITH ST PAUL, WINCHESTER Charlty Reqlstratlon number.. 1133040 REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024
sr MAThHEW WITH ST PAUL, WINCHEsfER REGISTERED CHARITY in England and Wales no. 1133040 ANNUAL REPORT OFTHE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024 Admlnlstratlve Informatlon The Ecclesiastical Parlsh of St Matthew, Wlnchester, Is part of the Dlocese of Winchester within the Church of England. It comprlses the churches of St Matthew, Stockbridge Road, and St Paul, St Paul's Hill, Winchester. The workin8 name of the parish is St Matthew with St Paul, Winchester. The correspondence address Is: Parlsh Office, St Paul's Church, St Paul's Hlll, Wlnchester 5022 SAB. The website is". www.stmatthewst aul.or The Parochial Church Council IPCCI was registered as a charlty In England and Wales on l December 2009 under re8iStration number 1133040. PCC members who have served at any time from l January 2024 until the date this report was approved are: Incumbent (and PCC Chair).. A550ciate Prlest.. Curute.. Revd Drjonathan Rowe Revd Canon Professor Liz Stuart MBE Revd Rhiannon Wllmott Churchwardens, St Matthew's.. Mike Russell-smith Anne Odling Bill Lucas (Vice-chairl Chrlstopher Seaman Churchwardens, St Paul s.. Representatlves on the Deanery Synod.. Vlcky Scott IPCC Secretary) Sandra Lewis Elerted members of the PCC,. Stephen Adam Rosemary Beardow (from May 2024) Kathleen Freeman Alexa Heady (until May 20241 Talia Hedstrom luntll May 20241 Keith Jones Linda Russell-smith {untll May 2024) Ross Darter (from May 20241 Dick Wllklnson Attend meetings.. Tim Stannard (Chalr of Finance Commlttee and PCC Treasurer) and Rev Mary Coppin8 Independent examiners.. Knlght Goodhead Limited, 7 Bournemouth Road, Chandlerfs Ford, Hampshire, S053 3DA
Structurei governance and management The governing documents are the Parochial Church Councils (Powers) Measure 1956 as amended and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended). Members of the PCC are elected by the Annual Parochial Church Meetlngs IAPCMS) In accordance with the Church Representation Rules or are co-opted by the PCC. Members of the congregations and those who attend our senjices are encoura8ed to register on the electoral roll and stand for election to the PCC. In 2024 the electoral roll was revised and Ilsted 251 people, of whom 106 were resident In the parish and 145 non-resident. The membership of the PCC In 2024 conslsted of the incumbent, the assoclate priest, the curate, the churchwardens, the Deanery Synod representatives and the elected member5. The incumbent and the curate are remunerated by the Dlocese. to whom the church contrlbutes its agreed share of the Common Mission Fund. The Associate Priest is a Self- Supporting Minlster. The Treasurer and the Rev Mary Copping attend meetlngs as non-votin8 members. The PCC met six times durin8 2024. Meetings were chalred bythe Vlce-chair. The PCC has a number of commlttees, the organisation of which was reviewed during the year. The minutes of each are included wlth the PCC agendas and dlscussed as necessary. The current committees with delegated powers are Building for Life Committee; Finance Committee; People Committee; Safeguardin8 Committee and the Beyond Ourselves Committee. In addition, a number of groups coordinate aspetts of the work of the parish; these also report to the PCC. The PCC has complied with our duty under section S of the Safeguarding and Clergy Discipline Measure 2016 to have due regard to House of Bishops, guldance on safeguardlng children and vulnerable adults. Objectlves, alms and purposes The PCC of St Matthew wlth St Paul, Winchester, promotes the mlssion of both churches In the parish and 15 responsible for the maintenance of the buildings. It also looks after the Parish Hall and Parish Rooms adjacent to St Paul's Church. St Matthew's and St Paul's churches are Incluslve, welcoming and vlbrant with congre8ations which span the whole age-ran8e. Our misslon is encapsulated in the strapline, 'pil8rims on a journe¢: as we travel, we catch glimpses of heaven, share abundant life and take steps of faith. The PCC has had regard to the Charity Commission's Public Benefit guidance, where relevant, when determinlng and overseelng the churches, artivitles.
Actlvltles and Achlevements The parlsh has a strapllne, 'pilgrims on a }ourney'. During 2024 the Parochial Church Council, as trustees, focused upon elucidating what this meant for our churches and agreed plansto help us become more authentic pilgrims. Specifically, we want St Matthew's and St Paul's to be places to wonder, explore and belong. We explain below what these mean and how the parish's activities have contributed to each: o Wonder. We are places to catch gllmpses of heaven- In worship, community, music and prayer. Our actlvitles in 2024 included: Worship. Growin8 congregations attended Sunday and weekday senilces at St Matthew's (ln the BCP tradition} and St Paul's; the major Christian festivals, baptisms, confirmatlons and marrSages were celebrated; and clergy offlciated at funerals, both In the churches and at other locations. Durln8 2024, we launched monthly Bubble Church service for young children and started monthly informal evening worship, Journeylng Together. Concerts and events. St Paul's Church is a venue of choice for a growing number of clas51cal concert performances and we continue to seek ways of u5in8 the renovated building as Intensively as feasible. In March, St Paul's hosted a well- received reflectlve art exhibition, 'The Bitter and the Sweet,, which incorporated a jazz lunch for 100. Prayer. At the heart of our churches, life is prayer. As well as offering daily Morning Prayer and weekly Chrlstian meditation, during 2024 we stsrted monthly parish prayer meetlngs, and tralned a group to offer prayer after Sunday services at St Paul's. A partlcular highlight was the new termly Quiet Mornings. o Explore. We are places to explore: to be curlous and take Steps of falth-to encounter Jesus (maybe for the first timel, question falth (not for the last timel and dlscover how to trust God. Our activities in 2024 included: Chlldren, Youth & Famllles. Our vlslon for children and youth is that St Paul's Is spiritual home, an inter8eneratSonal community, and a church where curiosity is encoura8ed. We Contlnued to offer Sunday Groups, a monthly Youth Group wlth meal, and a Toddler Group; and the church continues to host the St Paul's Pre- school. New Initiattves Included a weekly'Bumps & Babies, group. There was continued involvement wlth Western School, where 3 Foundatlon Governors are nominated bythe parish, and wlth Peter Symonds College; the parish also re- established links with The Westgate School. Curious? New Year and Lent groups to explore faith were complemented by an Advent pilgrimage. These opportunlties to explore Christian faith were In addition to ongoing Bible study / discussion groups and successful weekend retreats for women and men. Training. The parish trains a curate and is the trainin8 placement for an ordinand: two members of the congregation are training for Licensed Lay Ministryi and one
person completed the Bishop's Permission to Preach course and four completed Bishop's Commission for Mission training. In addition, five members of the parish studied the Bible Reading Fellowship's Spiritual Care Course, organised locallv. Evangelism. In October, the parish welcomed a member of the Archbishop of Canterburvs team of evangellsts. o Belon8. We are places to belong where everyone feels at home. with no exceptions, where we seek to live the radical Good News of Jesus by caring for each other, those beyond ourselves and the natural world. Our activities in 2024 included: Safeguarding. The parish has prioritised developing a culture of good safeguarding, uslngthe Church of England's safeguarding dashboard to benchmark good practice and monltor fulfllment of all safeguarding responsibilitles. Prayers of Love and Faith. Following publicatlon of prayers to bless same-sex couples the PCC decided wholeheartedly to offer the Prayers of Love and Faith. Enga8ement with the local communlty. Over 1,200 attended the Community Day at St Paul's In May 2024. At Advent we hosted a community Advent calendar, In church and online. We hosted a free Animal Natlvity with crafts and a donation café which over 50 local familles attended. A free 'Flex & FloW exerclse class and a fortnightly community sin8lng group take place at St Paul'5, as does a free weekly community meal, 'Have a Meal on Us,. A 50 meal student'Have a Meal on Us, is taken to the local university campus monthly; and twice monthly pop- up cafés at St Paul's are very popular. The Parish Visitor befriending scheme continue5, With more clients being referred from statutory agencies. Finally, many people from the area visit the churches, which are open throughout the week. Beyond Ourselves. We focused our involvement upon 8 charitles, glving more than £12,000, including Chrlstmas collections, to local and international agencies. We continued engaging with environmental Issues, achlevlng the A Rocha Silver Award for St Paul's Church. Communications. As part of a strate8lc refocuslng of our engagement wlth both church members and the wider communlty, the church communlcatesvia di81ts1 channels each week, complemented by a redesigned ma8azlne, now published termly. Our plans for 2025-2026 build upon the developments durSn8 2024. We have four prlor5tles: (11 to deepen faith, {21 to cultivate children and youth ministry, (3) to serve beyond ourselve5, and141 to connect with the local community. Implementation of detailed plans has started; we will report progress in future Annual Reports.
Financial revlew The churches, General Fund recorded a surplus of income over its expenditure relating to its ongoing activities in the year. General Fund income was higher than in 2023 mainly due to somewhat higher regular giving together with a legacy and generous one-off donations; and expenditure was only slightly higher than in 2023 despite a full year of an additional member of staff, malnly due to a lower requested diocesan Common Mission Fund contribution. The most signlficant bulldlngs related project in the year was the replacement (with LED lights) and upgrading of St Paul's Church lightlng. The expenditure of c.£70,000 on this project was substantially met by generous donations and grants, with a small deficit of fundlng covered by the General Fund. Some Important maintenance work identified by the churches, qulnquennlal revlews was not committed In 2024 and will therefore be borne In 202S. Some of the churches, children and youth work expenditure was again borne by the restricted Children's Work fund. As a result of all the above, the General Fund recorded a surplus for the year of approximately £22,000 (2023.. £7,000). The overall result was better than bud8eted even after takin8 account of the quinquennial repairs not provided for, which is encouraging as the churches aim to maintain a sustainable financial position in which their income fully cover5 their day-to-day expendlture. Before the year end, the parlsh was Informed of Sts entitlement to a generous legacy bequeathed by a former parlshioner. The amount is uncertain as It depends on the sale of assets but an estimate of £300,000 has been Included in these accounts, which has been recognised In a deslgnated fund. Including the Scott bequest, whlch increased in value by approxlmately £24,000 In the year by virtue of Investment income and valuatlon Increases, designated legacy funds over which the PCC has discretion amounted to approximately £800,000 at the year end. The churches, General Fund reserves were approximately £141,000 at the year end, equlvalent to approximately six months, expenditure, now in accordance wlth the churches, policy. Investment pollcy and objectlves The churches contlnued to hold a mixture of pooled Investment funds and bank deposits, principally to Invest the remaining Scott Bequest fund, with a vlew to maintaining the real value of its reserves over the medium to long term aligned wlth the churches, evolvin8 objectives and plans but with a prudentdegree of rlsk. The equlty component of the churche investments was reduced in the year and reinvested in Interest bearing deposits. The churches, policy 15 to invest in accordance with appropriate ethical criterla and in doing so has regard to the guidance in the Church of England's Statement of Ethical Policy issued by the Church of England Ethical Investment Advlsory Group.
Rlsks The churches continued to monitor its financial, operational, reputational, regulatory, and safeguarding risks. We regularly assessed the financial risks as alluded to In the financlal summary above. We believe these risks were managed prudently and approprlately. Plans for future periods We plan to continue pursuing the churches, mission based on 'pilgrims on a journey, in our Sep41S, pastoral work and other activities with themes of 'wonder', 'explore' and 'belong'. Wewill continueto revlew the bestfuture use of the overall St Paul's site, includin8 the Parish Hall and Rooms, and other community engagement, having regard to the generous lega funds available. Statement of responsibllltles of the trustees The trustees are responslble for preparin8 the Annual Report and the financial statements in accordance with appllcable law and the Unlted Kingdom Generally Accepted Accounting Practlce (UK GAAPI. The Charitles Act requlres the Trusteesto prepare financial statements for each financial year whlch give a true and fair vlew of the state of affalrs of the charity at the end of the year and of the surplus or deficiency for the year then ended. In preparing those financlal Statements, the Trustees are required to: select suitable accounting policles and then apply them consistently make judgements and estimates that are reasonable and prudent observe the methods and principles in the charltles SORP state whether applicable accounting standards have been followed, subject to any materlal departures disclosed and explained In the flnancial statements", and prepare the financial statements on the goin8 concern basis unless it is inapproprlate to presume that the charlty will contlnue in operatlon The Trustees are responsible for keeplng proper accountlng records which dlsclose with reasonable accuracy at any time the flnancial positlon of the charity and to enable them to ensure thatthe financial statements complywith the CharitiesAct 2011. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detectlon of fraud and other Irre8ularities. Approved by the trustees and signed on their behalf bv Trustee KJts. fJo,fftOkn)E
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MArrHEW WITh ST PAUL, WINCHESTER I report to the trustees on my examlnatlon of the accounts of St Matthew with St Paul. Wlnchester, for the year ended 31 December 2024, which are set out on pages 8 to 22. RESPONSIBILITIES AND 8ASIS OF REPORT As the trustees of the Charity you are responslble for the preparatlon of the accounts In accordance wh the requiremerrts of the Charlties Act 2011. I report In respect of my examlnatlon of the Trustee's accounts carrled out under sertlon 145 of the 2011 Art and In carrylng out my examination I have followed all the appllcable dlrectlons ilven by the Charity Commls51on under sectlon 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Slnce the charlty'5 gross In¢ome exceeded £250,000 your examlner must be a member of a body1Ssted In sectlon 145 of the 2011 Act. I Confirm that l am qualSfied to undertake the examlnltlon because l am a member of the Instltuta of Chartered Accountants In England and Wales, whlch15 one of the listed bodles. I have completed my ex3mlnatlon. I conflrrn that no materfal matter5 have ¢ome to my attentlon In connectlon wSth the examlnatlon glvlng me cause to belleve that In any materlal respect: 11 accountlng records were not kept In respect of the Chartty a5 requlred by 5ectlon 130 of the Act,. or 21 the accounts do not accord wlth those records,. or 31 the accounts do not comply wlth the appllcable requlrements concernln8 the form and content of accounts Set out In the Charltles (Accounts and Reports1 Regulatlons 2008 other than any requlrement that the accounts glve a 'true and falr vle whlch15 not a matter consldered as part of an Independent examlnatlon. I have no concems and have come across no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understandln8 of the accounts to be reached. C J Goodhead FCA Knlght Goodhead Llmlted Chartered Accountants 7 Bournemouth Road Chandler'5 Ford, Eastlelgh Hampshlre 5053 30A
THE PARISH OF ST MAThHEW WITH ST PAUL, WINCHESTER STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 General Desl8nated Unrestrlrted Unrestrlcted Restrlcted funds funds funds Total 2024 Total 2023 Notes INCOME Donatlons, 8rants and legacles Income from charltable activlties Income from other tradlng actlvltles Investment Income 212,893 33,383 40,930 5,517 304,177 67,630 820 584,700 34,203 40,930 26,395 198,313 34,046 39,267 15,235 20,878 Total Incom• 292.723 325,055 68.450 686.228 286,861 EXPENDITURE Expendlture on charltable actlvitles 268,739 3,452 77,189 349,380 300,615 Total expendlture 268,739 3A52 77.189 Y19,380 300.615 NEf INCOME I IEXPENDITURE) BEFORE TRANSFERS 23,984 321,603 18,7391 336,848 113,7541 TRANSFERS BETWEEN FUNDS li 12,6061 2,606 NEf INCOME I (EXPENOITURE) BEFORE OTHER GAINS / {LOSSES) 21,378 321.603 16,133) 336,848 113.754) GAINS I (LOSSES) ON INVESTMENT ASSErs 645 2,969 3,614 27,746 NEf MOVEMENT IN FUNDS 22,023 324,572 (6,133) 340.462 13.992 FUND 8AL4NCES AT I JANUARY 2024 118,684 495,038 9,642 623,364 609,372 FUND BALANCES AT 31 DECEMBER 2024 11 140,707 819,610 3,509 963,826 623.364
THE PARISH OF ST MAThHEW WITH ST PAUL. WINCHESTER Charlty number: 1133040 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Tan8lble assets 10,005 8,743 CURRENT ASSETS Debtors Investments Cash at bank and in hand 323,940 158,567 S02.695 985,202 13,906 283,093 338,312 635,311 CREDITORS.. amounts falllng due wlthln one year 31,381 120,6901 NEf CURRENT ASSErs 953,821 614.621 NEf ASSErs 963 FUNDS 11-13 Unrestrlcted.. Deslgnated Other unrestrlcted 819,610 140,707 495,038 118,684 960,317 613,722 Restrlcted 3,509 TOTAL FUNDS 963,826 623,364 Sl8ned on behalf of the PCC bv: Trustee Date.. i l£>l¢p
THE PARISH OF ST MATTHEW WITH ST PAUL, WINCHESTER CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes NEf CASH FLOW PROVIDED BY OPERATING ACTIVITIES 142,164 4,024 CASH FLOWS FROM INVESTING ACTIVITIES Interest recelved Dlvldends received Purchase of flxed assets 20,255 6,140 14,1761 7,725 7,510 18,7431 NET CASH FLOW 164.383 10.516 The charlty had £nll debt at the beilnnlng and end of the year. NOTES TO THE CASHFLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 I RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPEFLATING ACTIVITIES 2024 2023 Net movement In funds for the year Investment Income Depreclatlon Decrease I Ilncreasel In debtors (Decreasel / Increase In credltors Decrease I Ilncreasel In Investment assets 340,462 126,3951 2,914 1310,0341 10,691 124,526 13,992 115,235) 19,682 8,345 6,310 129,0701 Net cash flow from operatlng actlvltles 142.164 4.024 2 NET CASH AND CASH EQUIVALENTS MOVEMENT 2024 2023 Cash at the end of the year Cash at start of the year Decrease In cash In the year 502,695 338,312 164.383 338,312 327,796 10.516 3 ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash at bank and In hand 502,695 338,312 502,695 338,312 10
THE PARISH OF ST MAThHEW WITH ST PAUL, WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 I ACCOUNTING POLICIES (al Basls of accountln8 The financial statements have been prepared in accordance wlth appllcable accountlng standards, the Charltles Act 2011 and the Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with FRS 102 leffective January 20191. The accounts have been prepared on the golng concern basls. There are no materlal uncertalntles about the charitV'5 abillty to continue. The charlty Is a publlc beneflt organisation. Ibl Fund accountin8 General funds represent the funds of the PCC that are not subject to any re5trirtlons as to thelr use and are avallable for appllcatlon on the general purp05es of the PCC. Funds de51gnated for a partlcular purpose by the PCC are also unrestricted, Restrlcted funds are those funds that must be spent on restrlcted purposes and the detalls of the funds held and restrlctlons are provlded in notes 11-12. Icl Income The flnanclal statements Include all transattions, assets and liabilities for which the PCC Is responsible in law. Donatlons and legacles Collectlons are recognlsed when recelved by or on behalf of the PCC. Planned givln8 receivable under pledge Is recognlsed only when recelved. Income tax recoverable on 81ft ald donatlons Is recognised when the income Is recognised. Grants and legacles to the PCC are accounted for as soon as the PCC is notlfled of Its legal entltlement. Where grants are condltlonal on future events they are recognlsed as deferred Ilabllltles untll the condltlon can be fulfilled. Income from charltable artlvltles Income Is accounted for when receivable. Income from other tradlnl jrtlvltles Funds ralsed from church events are accounted for when recelvable. Investment Income Dlvldends are accounted for when recelvable and deposlt Interestls accounted for in the period to whlch It relates. Grants and donations are accounted for when declded on. 11
THE PARISH OF ST MAThHEW WITH ST PAUL, WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 I ACCOUNTING POLICIES Icontinuedl lel Fixed assets Both the consecrated Church buildings at St Matthew's and St Paul's are excluded from accountability by the PCC. Consecrated property Is excluded from the flnancial statements by s.1012llal and Icl of the Charities Act 2011. All expenditure Incurred durlng the year on consecrated buildlngs Is wrltten off as expenditure In the SOFA and separately dlsclosed. Movable church furnishlngs held by the Church Wardens on special trust for the PCC and which requlre a faculty for dlsposal are regarded as Inallenable property. Expendlture on movable church furnishlngs and other functlonal equlpment Is capltalised where the cost exceeds £2,000. Depreclation Is on a stralght line basls over the following periods: Church organ - 5 years Flxtures and fittlngs 3 years IT equlpment- 3 years {n Investments Investment5 are valued at market value at 31 December. Realised 8aln5 and losse5 are recognlsed when Investments are sold. Unrea115ed gains and losses are accounted for on the revaluatlon of Investments annually at 31 December. Ig} Penslons The PCC partlcipates In the Penslon Bullder 2014 subsectlon of the Pension Bullder Scheme sectlon of the Church Workers Penslon Fund for three currently and one prevlously employed lay Staff. The Scheme Is admlnlstered by the Church of England Penslons Board, whlch holds the assets of the scheme separately from those of the Employer and the other partlclpatlng employers. The Church Workers Penslon Fund has two sectlons,. the Deflned Benefits Scheme and the Penslon Bullder Scheme, which has two subsections: a deferred annulty sectlon known as Pension Builder Classic and a cash balance sectlon known as Penslon Bullder 2014. Penslon Bullder Scheme Both sections of the Pension Bullder Scheme are classed as deflned beneflt schemes. Penslon Builder Classic provldes a penslon, accumulated from contrlbutlon5 paid and converted Into a deferred annulty during employment based on terms set and revlewed by the Church of England Pensions Board from time to tlme. Dlscretlonary increases may also be added, dependln8 on Investment returns and other factors. Pension Bullder 2014 is a cash balance scheme that provides a lump sum that member5 use to provlde benefits at retirement. Pension contributions are recorded in an account for each member. Dlscretionary bonuses may be added before retirement. depending on investment returns and other fattors. The account, plus any bonuse5 declared, is payable, unreduced, from age 65. There is no Sub-division of asset5 between employers in each Section of the Pension Bullder Scheme. 12
THE PARISH OF ST MATTHEW WITH ST PAUL, WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 I ACCOUNTING POLICIES Icontinuedl Igl Penslons {continued) The scheme Is consldered to be a multl-employer scheme as descrlbed In Sertlon 28 of FRS 102. Thls Is because It Is not posslble to attrlbute the Pension Builder Scheme's assets and liabilities to specific employers and means that contrlbutions are accounted for as If the Scheme were a deflned contrlbutlon scheme. The penslons costs charged in the SOFA In the year are the contrlbutlons payable In relation to staff salarles durlns the year, adjusted by any overpayments or underpayments In prlor years. A valuatlon of the Penslon Bullder Scheme15 carrled out once every three years. The most recent valuation was carried out as at 31 December 2022. For the Penslon Bullder 2014 settlon, the valuatlon revealed a surplus of £8.5m on the on8olng assumptlons used. There Is no requlrement for deficlt payments at the current tlme. The legal structure of the scheme Is such that If another employer falls, The P8r15h of St Matthew wlth St Paul, Wlnchester could become responslble for paylng a share of that employels penslon Ilabllltles. 2 ADMINISTRATIVE INFORMATION The charlty Is a statutory corporatlon under PCC Ipowersl measure 1956 and was re8lstered on l December 2009 The re8lstered office of the charlty Is The Parlsh Offlce, St Paul's Church, St Paul's Hlll, Wlnchester, S022 SAB. 13
THE PARISH OF ST MATTHEW WITH ST PAUL. WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 3 INCOME Unrestrlrted funds Restrlcted funds Total 2024 Total 2023 Donatlons. grants and legades Regular giving Collectlons Envelopes Donatlons Legacles Gift ald Grant Income 145,273 7,195 145,273 7,195 132,670 4,805 25,160 305,000 34,442 42,000 67,160 305.(KIO 37,442 22,630 584,700 19,286 7,117 32,113 2,174 198,313 3,000 22,630 67.630 517,070 Intome from chafft•ble artlvltles Parochial fees Parish & Famlly Activltles Income Communlty & Fundralsln8 Event Income Mlscellaneous Sales Income Magazlne 5ub5 Hlre St Pauls Preschool St Paul's flowers Income TOGS Income Frlends Subscriptlon Income 7,848 4,360 9,190 654 785 10,421 125 7,848 4,360 9,190 654 785 10,421 125 7,678 6.740 7,106 50 895 10,192 422 143 820 34,046 820 820 820 34,203 33,383 Income from other tr8dln8 artlvltleg Magazine adverts Facllltles Hlre Hire Florian Dance School Parklng I,iii 22,701 2,951 14,167 40,930 I,iii 22,701 2,951 14,167 40,930 886 24,022 2,710 11,649 39,267 Investment Income Interest 20,255 6,140 26,395 20,255 6,140 26,395 7,725 7,510 15,Z35 Dlvidends TOTAL INCOME 617,778 68.450 686,228 286.861 14
THE PARISH OF ST MAThHEW WITH ST PAUL, WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 4 EXPENDITURE Unrestrlcted Restrlcted funds funds Total 2024 Total 2023 CHARITA8LE ACTIVITIES Expendlture on tharltable attlvltles Diocesan Common Mission fund Parochial Fees- Diocesan Share Parish & Family Actlvltles expenditure Grant appllcatlons Communlty Day expendlture Prlntln& postage and statlonery Computer runnln8 expenses Insurance Admln salarles Workin8 Costs Maintenance and refurblshment Cleaning and 8ardenin8 Utllltles Muslc Professlonal fees Youth & Chlldren's work expendlture Mlsslon glvlng Beyond Ourselves donatlons St Pauls Flowers expendlture St Matthews Flower5 expendlture Hospltality expendlture Bulldlng for Llfe expendlture Bank charges Depreclatlon 121,962 3,875 3,841 1,700 2,860 5,114 4,467 5,797 39,379 10,134 17,740 8,069 15.372 4,594 2,430 7,175 10,000 2,305 751 35 121,962 3,875 3,841 2,000 2,860 5,114 4,467 5,797 39,379 12,134 87,676 8,069 15,372 4,594 2,430 12,128 10,000 2,305 751 35 136,449 2,974 3,954 300 3,178 4,842 6.003 5.854 38.384 6,716 21,231 9,299 15,796 5,499 1.950 6,236 9,580 2,000 69,936 4,953 706 1,300 99 538 538 1,139 2,914 1,139 2,914 883 19,682 Total expendlture 272,191 77,189 349,380 300.615 Professional fees Include independent examlnatlon fees of £2,43012023'. £1,950). 15
THE PARISH OF ST MANEw WITH ST PAUL, WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 5 Grants and donation5 of over £1,000 allocated to Institutions and other charitles durin8 the year were as follows: 2024 2023 Barnabas Fund Tear Fund Boaz Hampshlre Spurgeons Feed the Minds Southampton and Wlnchester Vlsltors Group Other donations 1,000 4,000 1,000 1,000 1,000 1,000 1,000 io,ooo 1,800 3,180 1,000 1,000 1,0 1,000 599 9.579 Amounts collected on behalf of other charftles thls year were as follovts: St Mortin In the Flelds Appeal Boaz Hamp5hlre Tearfund Macmillan Trinity Centre Beyond Ourselves Feed the Minds Homestart Southampton and Wlnchester Vlsltors Group other 496 203 1,374 429 904 2,305 397 60 1,062 1,503 1,207 1,243 4,449 6,734 6 EMPLOYED STAFF COSTS AND NUMBERS 2024 2023 Salarles and wages Employer's Penslon costs 49,023 2,953 51,976 42,964 2,886 45,850 Salary costs Included wlthln cleanlng and gardenln8, muslc and youth worker costs amount to £12,59712023: £7,466). The average number of full tlme and part time employees durln8 the year was 612023: 51, No trustees received remuneratlon durlng the year12023: £nlll £2,99512023: £3,013} expense5 were relmbursed to 5even12023: 51 trustees durlng the year. No employee recelved remuneration of more than £60,000 durln8 the current or prior year. During the year, employer pension contributions of £2,953 12023.. £2,886) were payable, and at the year end the amount outstandin8 was £66912023.. £6271. Durin8 the year no remuneratlon was paid by this charlty to key management personnel 12023: £nil). The key management team 15 taken as being the Par15h Church Council. The Rector formally chair5 the Parish Church Councll but he recelves a 5tlpend from the Diocese not from the charlty. Bill Lucas, vice-chair and church warden, chalred the meetln8s of the councll durln8 the year. He dld not recelve any remuneratlon. 16
THE PARISH OF ST mAHEw WITH ST PAUL, WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 7 TANGIBLE ASSErs Church oryan Flxtures and Flttln8S IT Equlpment Total COST At beglnnlng of year Additions At end of year 14,990 51,814 4.176 55,990 6,980 73,784 4.176 Tl,960 14,990 6,980 DEPRECIATION At be8lnnlng of year Chor8e At end of year 14,990 43,071 2,914 45,985 6,980 65,041 2,914 67,955 14,990 6,980 NEf 800K VALUE At end of year At beslnnln8 of year 10,005 8,743 10,005 8,743 8 DEBTORS 1024 202J Other debtor5 Prepayments and accrued Income Legacles due 21,527 2,413 300,000 323,940 9,900 4,006 13,906 9 INVESTMENTS Market value of Investments at l January 2024 Investment dlsposals Dlvldends relnvested Galn on revaluatlon of Investment assets Market rdlue of Investments at 31 December 2024 283,093 1132,781) 4,641 3,614 158,567 10 CREDITORS., amounts fallln8 due wlthln one year 2024 2023 Trade credltors Taxatlon and soclal securlty A8ency collectlons Accruals Deferred Income 14,197 831 2,481 6,932 6,940 31,381 7.799 783 1,762 6.046 4,300 20,690 17
THE PARISH OF ST MArrHEW WITH ST PAUL, WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 11 MOVEMENT IN FUNDS Fund movements for the year ended 31 December 2024 Balance at l January 2024 Income and 6alns Expendlture Translers Balance at between 31 December funds 2024 Restrlrted funds Chlldren's Work Frlends of St Matthew wlth St Paul St Matthew's U8htlng project 4,953 4,289 400 14,9531 12,(X)O) 820 3,109 400 67,630 68.450 170.2361 177,189) 2,606 9,642 3,509 Deslgnated funds Capltal Fund Bulldlng for Llfe Le8acles 8,743 2,567 483,728 495,038 4,176 12,9141 15381 10,005 2,033 807,572 819,610 323,844 3Z8,024 (3rt52) UnreY(rkted funds 118.684 293,368 1268,739) 12.606) 140.707 Totsl funds 623,364 689,842 349,380) 963,826 18
THE PARISH OF ST MATTHEW WITH ST PAUL, WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 11 MOVEMENT IN FUNDS Icontinuedl Comparatlve fund movements for the year ended 31 December 2023 6alan¢e at l January 2023 Expéndlturé and Losge$ Transfers Balance at between 31 December lunds 2023 Income Restrlcted funds Chlldren'5 Work Frlends of St Matthew wlth St Paul 5t Matthew's Blke rack5 Ll8htln8 project 11,099 6.489 16,1461 13,0201 4,953 4,289 400 820 903 5,549 7,272 19031 15,5491 115,618) 17,988 9.642 De$lgnated lunds Capltal Fund Bulldln8 for Llfe Le8acles 19,683 2,623 457,281 479,587 119,6831 1991 8,743 8,743 2,567 483,728 495038 43 35,190 35,233 18,7431 (19,782) Unrestrfrted fvnds 111,797 272,102 1265,215) I,684 Totsl funds 609,372 314,607 1300,615) 623,364 19
THE PARISH OF ST MArrHEW WITH ST PAUL, WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 12 FUNDS The restricted and designated funds are established for the followlng purposes: Bulldlng for Llfe A deslgnated fund consisted of donatlons and grants glven for the redevelopment of the St Pauls site under an ongolng appeal launched in 2017, with construction startin8 in 2019 and substantially completed in 2020. Chlldren's Work Establlshed through a glft from a parlshloner and grants from the Wheeler Jones Trust to support the Parlsh's Vrk wlth chlldren. Frfends of St Matth•w wlth St Paul The Frlends ralse funds In 5UPPOrt of the church bulldlngs through fundraisin8 events. The Frlends, alms are to preserve and enhance bullding5 for future generations, to encourage the use of the bulldlngs by the local tomrnunlty and to run interestlng and dlverse 50clal events annually to ralse funds. St Matthew'i Conslsts of glfts speclflcally allocated to St Matthews church for actlvltles. Capltal Fund Thls fund represents the net book value of flxed assets. Legades Thls fund relates to legacles recelved or to whlch the Parish has been notlfied of its legal entltlement whlch are not re5trlcted but whlch are subjert to expressions of wlshes, and the Income and expenditure relatlng to those le8acles. Thls Includes the balance of the Scott Legacy and an addltlonal slgnlflcant legacy of whlch the Parlsh was notlfled of Its entltlement before the year end date but has not yet recelved. The movement in the year relates to an estlmate of the value Iwhlch Is uncertalnl of thls addltlonal le8acy and chan8e5 In the comp051tlon and value of the fund's investrnents. Blke Racks A grant to Install blke racks at the church. htlnft Prolert This fund relates to donations, grants, Glft Ald and VAT reclaim to fund the expenditure on the new 118htin8 Installed In the church. The small defltlt of fundln8 at the end of the project was borne by the General Unrestrlcted Fund throu8h a transfer, 20
THE PARISH OF ST mAHEw WITH ST PAUL. WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 13 ANALYSIS OF FUNDS Other Restrlrted Oeslgnated unrestrlcted funds funds funds Total 2024 Fund balances as at31 December 2024 ore represented by.. Tangible fixed assets Investments Other current assets Current liabilities io,oos 158,219 651,386 10,005 158,567 826.635 131.3811 963,826 7,070 13,5611 3,509 168.179 127.8201 140,707 819,610 Other ftestrlcted Desllnated unrestrlcted funds funds funds Tot•1 Z023 Fund balances os at 31 December2023 are represented by.. Tanglble flxed assets Investments Other current assets Current Ilabllltles 8.743 233,859 252,436 8,743 283,093 352,218 120,690) 623,364 49,234 87,746 118,2961 118,684 12,036 12,3941 9,642 495,038 21
THE PARISH OF ST MATfHEW WITH ST PAUL. WINCHESTER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 310ECEMBER 2024 14 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted Deslgnated Restrfcted fvnds funds funds Total 2023 INCOME Donations, grants and legacles Income from charltable activltles Income from other tradlng actlvltles Investment Income 191,744 33,226 39,267 3,690 117 6,452 820 198,313 34,046 39,267 15,235 11,545 Totsl Income Z67,927 11,662 7.272 286,861 EXPENDITURE Expenditure on charltable actlvltles 265,215 19,782 15,618 300,615 Totsl expendlture 265,215 19,782 15,618 300,615 NEf IEXPENDITUREI IINCOME BEFORE TRANSFERS 2,712 18,1201 18,3461 113,754) TRANSFERS BETWEEN FUNDS NEr iexpENDITURE) I INCOME BEFORE OThER GAINSIILOSSESI 2,712 18,120) 18.346) 113,754) GAINS ON INVESTMENT ASSETS 4,175 23,571 27,746 NET MOVEMENT IN FUNDS 6.887 15.451 18,346) 13.992 FUND BALANCES AT I JANUARY 2023 111,797 479,587 17,988 609,372 FUND BALANCES AT 31 DECEMBER 2023 118,684 495,038 9,642 623.364 22