PAROCHIAL CHURCH COUNCIL OF ￿ ALFEGE. GREEN￿CH St Cireei Iwich Parochial Church Council of St Alfege Greenwich Registered charity number 1133046 ri i-l ANNUAL REPORT 2026 Including financial statements for the year ended 31 December 2025 PCC Annual Report 2026- Page l of 28 PAROCHIAL CHURCH COUNCIL OF ST AIFEGE, GREENWICH 2026 AWNUAL REPORT Contents Page Trustees Annual Report 2026 Aims & Purposes Objectives & Activities Achievements & Performan Worship and Prayer Future Plans Sustainability Organisational Structure Treasurerfs Report Auditor's Report Statutory Accounts 13 15 PCC Annual Report 2026- Page 2 of28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE, GREENWICH 2026 ANNUAL REPORT Aims and Purposes The Pafochial Churth Council of St. Amege Church, Greenwich IPCC) is responsible, wtth the Vicar, lor prrynoting in the ecclesiastical parish the wholè rnission of the Church, pastoral. evangelistic, soaal and ecumenical. The ParochFal Church Council is a corporatè bo(ty IPCC Powers Measure 195S. Church Representation Rulès 20rfii and is a charity registered ￿th thg Charity Commission under registration number 1133046. It has maintenance responsibilities for Sl. AKege Church, Church Street, Greenwich SE10 9BJ. the church hall and oiher church properties. as well as responsibilities for paid staff, and il decides how the funds of the PCC aw lo be spent. Objectives and Activities The PCC is committed to enabling as many people as sx)ssible to worshlp 8t ovr church and to b￿orne part of our parish cDmmunity at Sl. Alfege. We have underfined that aim through our mernbership oflhe Educational Charity. Inclusive Church, accepting its aim to be a church which does not discriminate, on any level, on grounds of economie power. gender. mental health, physical abihty, race or sexualty and to be a church which welcome5 and serves all people in the name of Jesus Christ., which is scripturally faithful., which seeks to prodaim th8 Gosp818tresh for each generation.. and which. in the power of Ihe Holy Spirit, allows all people to grasp how wide and long and high and deep is the love of Jesus Christ. The PCC maintains an ovetview of worship in tha church through the Worship ommrttee. 11 supports the work of the Vicar as chaplain to tsyo alms-houses in the parish and a broad range of Cultural and eommunty activities within the church and ihe hall, seven days a week. Through the coming and going ol nèw and gld mernbers we continue lo be a community of all ages and bad(grounds with a high profile In the area not only for the ex¢¢llence tsf our worship, the warrnlh of our welcorne and the beauty of our building, but for service to the whole communty. en planniNJ our activities for the y&ar the incumbent and the PCC have considered the Charity CommissM)n's guidance on public benefft. We try to enable people lo INe out their faith as part of our parish o)mmunty through.. Worship and prayer, leaming about the gospel and nurturing énquir8TS and those seeking baptism and confirrnation. Provision of pastoral care for people living in th& parish and thosa who come to u5 for rnarriages and nerals. St Alfege with Sl Peter Primary School through prowsion of School Governors. Ihelr worship, raising fijnds for the s¢hod foodbank and musical engagement with our Choral Scholars. Our partnerships wth Okutendereza Mu Luganda. the Lugandan knguage congregatK)n meèting in our church,. the Chaplaincy of the Old Royal Naval Cdlege site., the 999 Club., and Greenwch Homeless Pmject, sèNlng the homeless. Our relationships with tha Unwer$ty of Greenwth. Trinty Laban Conservatoire of Music & Dance and other insts"tutions and partners in Maritime Greenwich Worfd Heritage Site. Our ministy to the d￿rent schools, community groups and individuals who visit our church durin9 th8 week. The hosting of a yeo¥-round programme of concerts and redtsl$ ofthe hKJhe81 profe3sional standard. To facilitate this work. it is imFy)rtant that we maintain the fabric of the church and the hall. The church is a grade one listed buikding, famous for its architecture and historical associations. We see oui stewardship of the bu1￿1ng as an important part of our benefrt to the wider communty and to visitors. In line with the reporting requirements included in thè Charitiès Act 2016 thè PCC members are pleased to confim that all fiJndrais4ng is done in compliance with best fundfaising practice. During 2025 we did not employ any professional fundraisers. The￿ were no complaints or criticisms during the yèar about wr fundraising acts'vrties. Achievements and Performance We open our church to the public Tuesday to Sut)day weekly and on bank holiday5. To achieve this, we fely on a learn of wonderfijl volunteers who look after the church whilst we are open and help our visitors make the most of their time whether it be for prayer, quiet 01 to leam more abDUt our beautiful Ghurch and ils history and heritage. In 2025 we welcomed 22,6CLI visitors, 1400 more than18St year, and a record 706 visitors over the Easter weekend. PCC Annual Report 2026- Page 3 of28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE, GREENWICH 2026 ANNUAL REPORT Anne Burton, our Volunteer Development Manager, ¢o-ordin8ts$ and resources our team of volunteers, and we are currenlly looking to recruit new people, who can offer two to three hours per week 01 fortnight. Our herilage team, which was led until Septembèr by Hèritage Engagement Manager Malilde Marl¢netti, conllnued lo offer Hhlden Spaces, Footsteps in Time and Women at St Alfege T￿r$ We se¢ured funding trorn the Royal Borough of Green¥wch for a Black History 365 proied, which ran workshops led by wriler-artisls Kanda￿ Siobhan Walker and Highwater Ell throughout 2025. 'Reclaiming Narratives, takes inspiration frorn an original docurnent al Lambeth Palace Library, 'Petition' from Esther Smith, 8 $18ve in Greenwich. lo Archbishop Se(*trr in 1760. In this petition Esther asked to be baptised at St Alfege Churdi, bul her enslaver opposed hei requèst. Our artists, both from a Global Majority backgro¢Jnd, took the story of Esther as a $tsrting point for conversth.on and guided 8 group of participants in uncovering hidden stories of Black people connected to St Alfege Church through the pwr of creative wnts'ng, which was showcased in a Spe￿al event and accomp8nyiThJ booklet. During Ihe past year we have shared our expeiiencè with olhgr groups, induding churches and heritage professionals through active involvement In thè Churth of England's Major Churches Nehycrfk, Diocese of Soythwark, Deanery of Charfton and the Maritime Gr&6nwtch Wodd Hgrit8ge Sile Executive. The church staff learn and wardens meet regularfy to plan. debrief and overs8e the day lo day Nnning of the church. Beverfgy SharpGeoryiev has continued her work as thurch admini$lr8tw and failttles Cwdinalor, based at the church office. Matilde Marbnett thè rolè of Heritage Engagement Manager in September on moving to stsrt an Eu-lunded PhD in female inter war artists, based at tlie University of Zaragoza in Spain. We wll miss Matilde's professionalism, energy and wisdom., we thank her for her fruitful contribution here and wish her well. Volunteer Development Manager Anne Burton. worf(Ing c4088ly wrth ¢Jur heritage and welcome volunteefs. h8$ continued to pr￿nOte and help lead our varied heritage programm$, as well as wekoming and guiding a wide range of groups and visitors to the chufch, and ensuring our team does this well. Rhian Davies, ¢oncerts and recitals co-ordinator. has continued to oversee our eoneert hTrings and knce weekly lunchtime realal$, ensuring events are publicised online, via social media and through flyèrs and postèrs. and working dosely Yrith a colLea9u• at Tnnity Laban to enable their students gain a positNe ex￿rienC8 of stsging public perfomiances. Director of Music BenjanNn Newlove moved to a nw F)08t in Leeds in Juty and was succeeded by Joshua Ryan. who joined us from Hampstead Parish Church, where he was assistant organist. Ben Banks has given sterfing servic8 8$ assistant organist. playing the organ at services and directing the choir on o(xasions. Four more choral scholais are in pLgce for 2025-26, and Ihey vist St AKege wrth St Peterfs Primary School fv4i¢e termly lo lead singing at colW￿e worship. David McEvoy is actN8ty invdved in the staff team wilh liturgical and worshlp admSn1stralic￿ and support and welcome duh"e$ in the office and church. Car￿e Moses works as choir libTarian. Helen Neilly brings much care and attention and detail to thè bookkeeping role. Our thanks too to Kaien Smllh, hall 1x￿la￿er. Karen Hansen has put a lot of time and work into the parish safeguarding offi￿r role this year and we have continued to make safeguarding a piiority. Supported by Southwark Diocese. our staff. volunteers and Parochial Chuich Counal members have received guidance and undergone appropri8le training. and we have sought to raise awaronèss of safeguarding and associated issues to our wider churth ciynmunty, including through services wth a'Safegu8rding Sunday, theme in November. IAore than 4,7￿ thild￿n and youThJ people cama to th8 ¢huith during 2025 lor heritage lours. RE visits, sch￿[ concerts and worship services. induding our popular'Christm85 Journey,. a creative Charfton Deanery inrtiativ• in which our volunteers presented tha story ol Christmas to piimary school children and staff from hjcal schools. PCC Annual Repon 2026- Page 4 of28 PAROCHIAL CHURCH COUNCIL OF ST AtFEGE, GREENWICH 2026 AKNUAL REPORT OUT weekty'walk tn Wedne5d8y' dropin helps lack￿ isolats'on and loneliness. offering a cuppa, chat and company for local peoplè of all ages, and has re¢enlly moved lo a larger and more suitable venue, the refurbished small hall. The dergy have endeavoured lo make home visits or rr￿t with all neW￿rneTr to church who fill in Ihe welcome fom. Wtr offgr ￿￿10T01 ¢aro and 0 IFslening ear to all who request (hal- via our clergy or lay mini8ter8. Collections at our special Advènt and Christmas 5ervic85 and donations from individual groups raised £6,647 and were splrt between three charities.. Greenwich Hornek$s Project, the St Afege School Foodbank. arKI Embra￿ the Middle East. Our volunteer eooks Continue to use the hall kitchen and premise5 for cwking meals each week and collecting supplies lor the 999 Club homele5S Outreach project in Oeptford. Eco church group has kept links with the partnership with the Diocese of Lake Malawi, focussed on fvTKling tree planting. We are part of a Charbn Deanèry church8S' 8co nelwork and are woeKing toward5 Eco Church Silver status. Group members are active in caring for our church grounds and in initiatwes further affiekl. It is pleasing to report that about 160 local people volunteer regularfy across the varioLLS areas of the Itfe. worship, work and ministry of St Alfege Church during the year. Thank you to our commrtted staff team. our hard-working volunteers, churchwardens. treasurer, Parochial Chur(* Counal members for their commitment to the ministry. mtssion and flourishing of St Alfege Church in 2025. Worship and Prayer AS an in¢lusiv# d)urch family who serve our community in the name of Jesus Christ, we want people to experience Ihg lov8 of God through our worship, welcome. witr￿S and our life together. We hold Morning Prayer Ihiee days a week al 8.30am and a said Holy Comrnunion Service on Thursday at 8am. St Alfege wth St Peterfs Sch￿1 hold a sérviee for the Who￿ 5th001 each te￿ in thurth wlh our d8rgy involved. Each week our clergy visit the school to1è8d coll8ctive worship. On Sundays, we hold a said seThice of Holy Communion al 8am and a Sung Eucharist at 10am. On Ihts fjrsl Sunday of the month. we hold'Abide', a service wth a r&flective aThJ contemplative focus and on the last Sunday of the rnonth we hold a service of Choral Evensong. Our prayer ministry team of lay people and clergy are available to offer listening and prayer fof healing at the conclusion of the 1 Oam service. A prayer requests book in the church is filled with vistors, prayer requests e8¢h week and we offer prayers for them in our daily worship. Children's Church. for t￿ldIerS to leen8get5 and a p8ienVcarer, woiship toggther e8th Sunday in the thurch hall during t8tm tirne. including a Communion service with one of the dergy fv￿ce a term. Around 30 young people and thelr parenvcarers meèt for worshlp. Sw81 a¢tivilies have indudÈd a visit to the pantomime al Greenwich Theatre and a summer picnic. Childrèn's Church Mam￿T5 Part￿ipate in leading Ihè 10am Eucharist in thurch on speaal services such as Mothering Sunday, Harvest, the annual Nativity play, and Candlemas. Inspired by the art of Matisse. they created another beautiknl Christmas window on the chui¢h hall windows, themed aiound'Joy'. Termly we invite young people of secondary school age to attend 'the Gathering,, a worship event organised by Greenwich Youth for Christ. We thank our Children's Church co-ordinators Alison Wood and Moira Searfe for their ¢ommitment to the nurture of our young people's faith and their pastoral care for the families. Two of our church members wer8 confimied in 202S at th8 Charfton Deanèry satv￿0 ai St Mary's Woolmch and a dio￿an servlce al Southwark Cathedral. An aduh 'Pilgrim' enquirers. group ran again in the autumn. co-ordinated by Revd Or Tati Gutteridge. afterwhich some members decided to be baptised and confimied. The Open-Door home group continued to meet forworship, reflection, prayer and support throughout the year and as an online Lent course. For our 2025 Lent Course in partnership wlh the Old Royal Naval College Chapel, we lollowed Revd Dr Charfie Bell's book'searched me out and known me.. Journeying Lent wrth the Psalms,. Each week we considered a different Psalm alongside the Sunday gospel reading, covering themes such as Reliance, Lament, Sanctification, Abundance, Service and Power. About 40 peop￿ took part in three groups. The Vi¢ar and Revd Dr Tali Gutteridge prepared our candidates for ConfiM￿tion in a couple of short courses. PCC Annual Reporr 2026- Page 5 of28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE, GREEN￿CH 2026 ANNUAL REPORT Clergy arKI church mernbers continue to lead Week￿ worship for resid&nts at ts¥o ofour bcal almsthou$os- Queen Elvzabeth College and Trinity Hospital. Our church choir has continued to enrich our worship during the year, singing at major feslivals and S¢Jndays, as well 8$ the monthly Choral Evensong and atso at some weddings and fvnerals. We thank ch￿r members for their ¢ommilmenl and enthusi8srn. It was good to welcome new singers during the year. Revd Or Tali Gutteridge returned for the year of 2025 and is now taking a second maternity leave until Advent 2026. We thank the clergy who have supported our Sacrarnenlal and pastoral ministry this year including Revds Liz Newman. Laura Falurotl, Jane Pgtrie, Robert Tobin, and Mafk Hatther- vkno retired from his mini8try at the Templè Church in Juty 2025 and joined us as honorary assistant Prièst. Our Readers David McEvoy, Petèr Kinnison. Richard Mash. and Pastoral Lay Minister Carole Moses continue to be active in the ministry of the parish. Okutendereza Mu Luganda fellowship meets for worship in the afternoon every second Sunday of the mtsnlh under the leadership of our Honorary assistant priest, Revd Stephen Nshimye. and the ministry team. It was a joy to jThn with OML for their tenth anniversary servKe in June, at which the Bishop ol Woolwich the Rt Revd Alastaif Cthting pre8¢hed, the ￿presentat￿e of the Kabaka of Buganda, was among the guests and Lugandan speakers from around thè UK eamè tr) show their support. We hav¢ celebralod 11 baplisrns in the past year- indudirvJ four adult candidates- and e￿ family has re￿Ived 8 visit and preparation for thèir thild'5 bapti$m. In 2025 we held six weddings and rènawal of vows for courAe$ and seven ftjnerals and mernorial services. We held three marriage preparation days for couples preparing to be mamed at Sl Alfege and the Old R¢)y81 Naval Col Chapel. Our weekly worship inVo￿eS many people as welcomers, readers. servers. choir member$. floww arrangers. 80und and vision desk operators, Children's Church leaders and after Servi￿ coffee time hosts- wthoul them our worship ex>uld not takè pla¢e and flourish. Everyone is welcome to attend our regular services. Al prewt we have 202 mernbers on the thurch electoral rdl. Our average Sunday attendance wa$ 140 adults and 30 children. Future Plans Our Mission Adion Plan IMAP) is a strategic plan for the actm1￿$ that St. Alfege Church will live out and covers the period from 2024 to 2028. Our plan provides us wilh a clear sense of God's vision for our church and assists our plonning and rgflects our achievements. 11 helps us to Nlentify and priorrtise other opportunities and resour￿. The MAP was developed by a group of PCC members, and our purpose and action statement was developsd thiough wider discussion with members of the clergy, 3taff team and the MAP Cornrnittee. Each aspect ol the MAP has been discussed, dèbated. agreed and disagreed through variou3 iterations, presented to the congregalk)n and feedback welcomed. The MAP is reviewed regulady to ensure it is a living documènt and Ès being refreshed in Spring 2026. St Allege Church - An indusive communty offaith wher& 8varyona is in¥rtad to encountsr tho lovè of God. . We offer spiritually engaging worship for all ages enhanced by thè beauty of music. . We welcome everyone lo enjoy our rich heritage through concerts, our architecture and history. . We open the church throughout the week as a place of prayer, peace and refuge. . We offer Spiritual support arKI encourage people on their Christian journey, for daily life and through major milestones (such as birth. marriage and deathl . Vve welcorne children, young people and families and seek to nurture their faith. We use the 10ll¢)wng five headings.. Tell. Teach. Tend, Transform and Treasure. PCC Annual Report 2026- Page 6 of 28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE, GREEN￿CH 2026 ANNUAL REPORT Sustsinability In its Mission Action Plan. Sl Alfege Churth is committed lo reduce its environmental impact. In February 2020, the General Synod ofthe ch￿￿h of England resolved lo achieve zero nel carbon across the Church by 2030. and Soulhwark DI￿Se also aims to do this. The DI￿Se archived the Bronze Award in 2022 and has a tsrget of reaching silver status by 2027r28. After completing detailed actions St Allege Church was pleased to gain bronze 'ECO Church, status in 2024, and we are now planning lor Silver which involves addressing our responsibiliti6s under five broad headings.. Worship and Teaching.. Buildings and Energy,. Churchyard." Communty and Global Engagementr, and ￿f&styIè. Structure, Membership and Organisation of the Parochial chU￿h Council During Ihe period from l January 2025 to the date of thFS report, the following were members of the PCC.. Ex Officio: Elected: vI￿r Chair Cuole Assistant Priest Rev Sirnon Wnn Rev Taliana Gutteridge Rokrt Tobin Graham Voke ￿reasUrer) Ben Crompton Isecretaryl ison Wood Andrew Lewis (to May 2025} Joyce Skeete (to May 20251 Amo Levin Ilo May 20251 Victoria Ajoku Ilo May 2025} Peter Vèmon Christophar Atklnson Moses Ekole Karen Hansen Helen Crompton Karen Bellon Ifrom May 20251 Manuel Atkinson lfrom May 20251 Paulette Johnson Ifrom May 20251 Valerie Johnson (from May 20251 Reader Reader Reader Pastoral Lay Minister Peter Kinnison David McEvoy Richard Mash Carole Moses Churchwarden Churchwarden Churchw8iden Irene Bishop CBE (to May 20251 Simon Gallie Wendy Foreman (from May 2025) Deanèry Synod Dèantrry Synod Deanery Synod Deanery Synod Neil Jenkins Ilo August 20251 Daisy Srnith Amanda Jenkins (to August 20251 Grahame Woods Members of the PCC are either ex officio or elected annually by the Annual Parochial Church M8etiThJ in alxordance th the Church Representation Rules or co-opted in accordance with those rules. The membèrship ofthe PCC consists ofthe incumbent Ivicarl, churthwardens, reader, SPA and members elected by those members of the congregats'on who are on the electoral roll of the church. All who attend our services on a regular basis are encouraged to register on the electoral roll and stand foi ele¢Xion to the PCC. New members ol the PCC are inducled into the workings of the Parochial Church Council through meetings with existiThJ members of the PCC. the hurchwardens and the Incumbent. The PCC has a Starmling Committee that has power to conduct the business of the PCC between meetings, subject to any directions given by the PCC. Other committees and working grwps are established from lime to time lo rneet particular needs. The PCC has met 6 times since the approval of the Annual Report in Mar¢h 2025. May 11, June 2, September 19, October 22 and December 8, 2025. and on February 9, 2026. Key Management Personnel The PCC considèr thè following people as cornprising Key Management Personnel ofthe tharity. in thafga ¢)f controlling the charity and running and opeTab'ng the charity on a day-ttrday basis. Vicar Churd)warden Treasurer Simon Winn Simon Galli8 Graham Voke Churchwarden Secretary to PCC Wendy Forernan Ben Crompton PCC AnnuaI Report 2026- Page 7 of28 PAROCHIAL CHURCH COUNCIL OF ST AIFEGE, GREEN￿CH 2026 ANNUAL REPORT PCC Members, Responsibillties The PCC members are responsible for preparing the annu81 report and the finanrial slalements in accordancè with appli¢ablo law and Unrted KiThJdom generally ac￿pIed accountitYJ pwti¢e. Charty18w requi￿$ the PCC members lo prepare ffinancial statements for ea¢h fin8ncial year that give a true and f￿r Y￿ of the statè of affairs of the church and of its financial activits'es for that pèriod. In preparing those finanaal statements, the PCC members are required lo.. stale whether applicable accounting standards and 5ts1ements of recommended practice have been followed Subject lo any departures disclosed and explained in the financial stslernenls. observe the melhods and principles in the Charities SORP Istslemenl of Recomrnended Practice). $ele¢t suitable accounting policies and apply them consistently. make judgements and estimates that are rèasonabla and prudent. prepare the financial statements on the going concem basis unles$ it Is inappropriate to presume that the a¢tivilies of the ¢huich will continue. Th& PCC members a￿ responsible for keeping proper accounts'ng ￿e0rd3 which disdose wlh reasonable accuracy at any tim& the financial posith)n of the church and which enable them to ensure that Ihg fin8nryal 5tslew￿nts comply with the Charities Act 2011 and the Church Accounting Regulations 2006. They are also responsible for safeguarding the assets ofthe church and hence for tsking reasonable steps forthe prevention and detection ol fraud and other irregularities. All trustees give of their time freely and no trustee ramuneral￿n was paid in Ihe year. Details of trustse &xp￿SeS and related paty transactions are disdosed in note 11 to the ac￿)￿nIS. Advisers to the PCC BANKERS INDEPENDENT AUDITORS National WestminsterBank PIC 2 Greenwch Church Stre8t Greenwich. SE10 9BQ Xeinadin Audit Limiied 5 Robin Hood Lane SU￿ey. SM12SW Thls annual roport was approved by Ihe Parochial Church Coundl on the 30 March 2026 and signed on its behalf by.. Simon Winn, Vicar Chair Sl Allege Church. Greenwch Church Street, Greenwich. London. SE10 8BJ. PCC Annual Report 2026- Page 8 of 28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE, GREENWICH FOR THE YEAR ENDED 31 DECEMBER 2025 Treasurerfs Report Executive Summary For the year erKling 31sl Decernber 2025, the statutory Accounts show a defiat of £7,20712024.' sU￿lUS £781. PCC core inwme lexd Sl Afjfege Fund grant translerl increased by £11,499 {+3%1 lotsl costs decreased by £16.982 we were notified of a legacy of£43,000 from Ihe Estate of Gordon Baker. the unrealised losses Irevaluats'onsl on the equity investments which decreased by £37.168 {4.1¢hl due to a di8appoinliThJty poor perfomiance in 2025. Ex¢luding these revaluations and the legacy the resvll was a deficit of £13,039 which included budgeted spends o the organ. $m811 hall. Thg hall windows were also replaced and the cost capilalised. The properties at St Alfege Pa55age were r8valu8d by the PCC as al 31 Decernber 2025. No change was judged necessary to the value of the four propertlè8. Tha PCC considers th8 market v81ue of 811 four properties to be £4.5m per note 4lbl on page 21. We continued activities for our Choral Scholar Programme in line with our >ye8r grant fr¢)m the Sir William Boreman's Foundation. Durfng 2024, we weie very g181gful to have been granted £5,OCM) from Royal Borough of Greenwch towards Black History and activities We￿ complét•d in 2025. The PCC Finance Committee reviewed the Seujrities Investments during 2025, and no amèndmènts were deemed necessary to the selected funds. In ants'apation of upcoming fabric repairs, shares to the value ¢rf¢irca £31k were sold. Proceeds are showng in note 5 on page 22 and were sl'll retained in cash at the end of 2025. For the year ending 31st Decernber 2025 whilst there was a defi¢)t 01 £7.207, this indudes the ievaluation of inveslmenls which, due to market conditions decreased in value by £37,168 whereas in 2024 the m￿eMent in share V8Iu8ti¢n w88 8n increase of 18,625. This is shown in note 7 on page 22. Excluding losses on share revaluations there was 8 surplus of £29,276 {2024= deficit of £20,450). Suffi¢ient cash balance5 have been maintsined lo en8ure liquidty and fvnd unexpected expenditure. Total Funds In the Balance Sheet decrea58d from £6,044,707 to £6,037,5(X). Under the PCC'S reserves policy mo81 oflhe assets are designated to ￿cOgnise that the income they produce is èss8nkn.al lo &nsur8 the PCC is able lo meet its routine expendbture. PCC incomo in 202S I￿¢m• 2025 Ouring 2025. reported income was £497.125 which was £43,027 higher than the incorne reported in 2024 of £454.098. Core incom8 of £437,838 increased by £11,49913°/41. Gmt I￿] ￿nI1* g¥t * Total Donaiknro 112.701 124.204 46.741 170.91J 183,44J 17,5001 Unrestricted donab'ons during 2025 lotalled £163,445 whith was £7,500 lower than the £170.945 donated in 2024. 28.326 117.2rJ 143.5g9 16571 -2% 117.4 144.393 I￿￿1rr￿1 Ir￿XiM 17841 Investment Income by way of inleresl and dNhlends has been relativèly consistent year on year with £26,326 re￿iVed in 2025. Similarty, R8nt81 Propety incom8 of £117.273 was in line with 2024. Church and Hall hire inc¥eased by £24,377 to £117,251. This in¢ludes an increment of £4.371 10 £11.790 for car parking fees provided mainly to market trader5. Both church hire for concért5 and hall hire In¢r&ased In 2025. The mobile phone mast rental income of £13,275 rèmainèd flat against 2024. An un￿Stricted legw expe¢t8<1 to be £43.C#JO was notified to the PCC in 2025. 42.918 47.410 28.923 28.38B 51% 13% Hal & CorrArts 5.491 4,337 24,377 22,M7 91B74 26 Aifi*ry. S￿￿ & OV*r 13.513 14.5911 Cor¢ Ir¢omg 437M31 16,207 426.331 11.40# Jx ReatThXed Irthm¢ 24.059 13.7WI 43.r L49aC 43,r Restricted fund income in 2025 was predominantly from Charty Colle¢tion$ wtth the £5,000 foi 818ck Hlslory recognised in 2024. TotAI I￿u￿ 497,125 454.rfva8 43.027 PCC Annual Report 2026- Page 9 of 28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE. GREEN￿CH FOR THE YEAR ENDED 31 DE￿MBER 2025 PCC expenditure in 2025 2024 The Totsl Expenditure in 2025 of £467.849 was £6,7(X) lower than in 2024. Of the total 2025 expenditure, £49.433 related to the cost of raising fijnds Suth as renlal property expenses 8nd the cost of running concerts. £418.415 of 2025 costs were for Charitable Actniities las detailed in this table). The Charitable Activity costs we £21,196 lower in 2025 than 2024.. A table has been remapped below to show the comparison of the component elèrnents of Charitable Activrties costs, year on year. 35.02J 33.358 2.B86 53.832 1.673 8,114 ¢e & iepar 21 ¢hwch & Wl $3.259 18,400 MLryC ar￿thr ¢￿h 13.989 13.332 20,026 7.239 5.065 2.723 ,074 179,171 119481 -21% 8,879 11.6481 410 15.0551 -8% 7,648 6% -100% -140 Dèpretsatv s￿trIry cost* S￿T￿t41 C09t* 9.181 1.107 8.354 89.527 140.691 98.1 140.891 (J.62n -9% In 2025, the Su￿10tal ol these costs that covered underlyiThJ church maintenance and running costs were lower in 2025 with a sub-total of £170,816 expended in 2025 against £179,171 that was expended in 2024. Pari¥h &¥pry* FL¥• Tot*CNt8 401.034 418.016 OU*[. Restr￿Ed 21,595 439611 4.215 21 196 -20% co￿$ 418415 Church maint8nancg.' Costs lo maintain and repair the church totall8d £35,028, broadly in line Mth 2024. Hall maintenance Inueased lo £9.OCKJ with £3,376 expended on coping stone rendering to the ¢)utsiYe wal to the coutyard and £1,758 ex￿nded from the labric budget to repaid heating in the hall. Church and hall njnning expenses wh￿h indu¢k8 energy tor heating and lighting was £53,259, in ling with the 2￿24 expendrfure. Church supplies of £8,679 were £4.453 low&r Ihan in 2024. This was due to the onedoff expenditur8 in 2024 for Triptych and east portico decorat'ons Iwhich wèré fvnded by a speafic donalionl. There was no depreciation for office costs or the organ in 2025 nor any one-off advertising ￿st$. Sl8ff cos15 of£89,527 were lower than 2024 costs of£98.154 that one memb8r of Slaff look unpaid leave in January and one rnember of stsff ￿Signed in Q4. Review of Securities Investments No changes wèr8 dèèmed necessary to our investment apprO￿h in 2025 as In 2023 the PCC Finan￿ Committee carried out a thorough réview of the investrnenls regarding sustainability (ethical inveslmen151 and surtability (income vs growth and riskl.jt was conduded and resolved by Ihe PCC that investing our portfolio in a fully tnanaged Church of England Investsnenl Fund would be pNdent, as this will aV￿d the need to review and potèntl81ty ¢hange our holdings in the future. Plans for future fabric projects The treaSu￿r anticipatès ganeral expenditure in 2026 lo operate within the budgat agraed by the PCC. Loc*ing ahead to the fijture the main projects Ihat are to be carried out in 2026/2￿27 subject to funding are.. Repair or replacèmént ol the roof safety syslem on the roof of the Church General church maintenance Repairs to the churd) and hall ramp External deco[*$￿ lo the four St Awege Passage properties RefvrtJishm8nl oflhe old mortuary building PCC Annual Rep)rt 2026- Pa8e 10 of28 PAROCHIAL CHURCH COUNCIL OF ￿ ALFEGE, GREEN￿CH FOR THE YEAR ENDED 31 DECEMBER 2025 FinanGial Risks The principal risks and uncertainties faang the charity from a finanaal perspective can bè classffiad as incorne risks and expenditure risks. The responsibility for St Alfege Church, the church hall and other investment prc4)erties drives a need for regular income and a maintenance programmè for tha proparti&s. Fundraising from the general public As with any charity this is a challenge and risk to the finanaal security of St Affege. The ￿gUlar re¥￿W of th$ congregation Stewardship Scheme prowdes momentum and focus for the maintenance of planned gNing. Campaigns have been quadrennial and in befvleen campaigns, new members are advised about the option to make donations by standing order. The ability for visitors, concert goers and those attending services to donate by cardlcontacuess and via the website is also available. - Fludualions in investments The PCC does not hold securitw outside of agreed funds that are managed by CCLA Investment Managemanl Limrted ICCLAI with 811 investments in ft¢nds that are managed responsibly with due regard for environmental, sooal and g¢wemance stsndards and which target relums in the mediurn lerm in excess of UK inftation. Unforeseen maintenance or repairs lo property This 1$ pèrh8p$ Ihe rnost unpiedictabje of risks for Ihe PCC, bul the quinquenn￿￿ re￿rt and dose working relatK)nship belween Ihè ChuTch, Arthrt8Ct5 and Surveyors gn5ures that th8 m8inlgnancg and wear 8TrY tear ofth8 proper￿eS 1$ foreseen and planned on an ongoing basis. Operational and Governance Risks Th6 organisational structure of the PCC and sub-committeès prov*Jes a range of trust89$ and voltlnleers who bring experience frthn a range of professional specialisms and different sized organisations. Compliancè with law and regulation The Vicar and Churchwardens act to solicit the advice of qualified, relevant specialists and wofessionals. Investment Policy The Investment Policy contributes to the promotion, in the ecdesiasti¢al parish, of the vthole mission of Ihe Church. pastoral, evangelistic. soc4al and ecumenical. It facilitates the maintenance of Sl. Alfege Church, the church hall and other ¢hurch properties, as well as re5ponsibililies for paid 3tsff, by ensuring that a steady and wular flow of funds i¥ availat￿O to the PCC. The PCC intends lo hold the four inv8slmenl properti￿ forthe fo￿See3b18 lUtU￿ as ino)me generating assets. The pcthlios of securities held pay dividends wrthout deduction of tax and this income is an important element of the PCC budget. The PCC ¢Joes not hokl securities outside ol agreed funds that are managed by CCLA wrth all investments in funds that are managed responsibly with due regard for environmental, soerdl and govemarKe standards and which target returns in the medium term in excess of UK inflation. The PCC undertook a Teview of the investment held during 2024 with regard to sustainability {ethical invèstments) and suitability {income vs groth and risk) and rt resolved to move all to The Church ol England Investment Fund which is actively managed and invests in several 'assel dasses, induding equities. fixed interest securrties. private equity, property and cash. The PCC is also responsible for managing Ihe assets. so far as reStrict￿nS in the charty's constitutional document pemirts, olthe Sl. Alfege frjnd. Details of changes in the undertying assets ol this charity can be found in the notes to the financial stalernents. Reserves Policy The PCC'S reserves policy was reviewed during 2025. The designation of the investment properties and most of the PCC'S equty holdings, totalling £5.3rn as at 31st December 202512024.. £5.3ml. makes dear to readers of the financial statements that the PCC intends these assets to be reserved to produce an income that wll continue lo support the church and that they are not to be used for other purposes. During the course of the year undei rèview the reserves have proven satisfactory lo meet the policy previously sel, and therefore the PCC members decided lo make no change. PCC Annual Report 2026- Page I l of 28 PAROCHIAL CHURCH COUNCIL OF ST AIFEGE, GREENWICH FOR THE YEAR ENDED 31 DECEMBER 2025 Summary The Pcc's current financwl position remains sound, 8nd rt has the resources to support Ihe church's wider obJ'e<*'vg8. This finanaal rèvi8w was apyoved by the Parochial Churth Council on the 30 March 2026 and $lgneil on its tehatf by.. Graham Voke Treasurer, Sl Alfege Church, Greenwich, SE10 8BJ PCC Annual Report 2026- Page 12 of 28 PAROCHIAL CHURCH COiJNCIL OF ST AtFEGE, GREENWICH FOR THE YEAR ENDED 31 DECEMBER 2025 Independent auditorfs report to the members of the Parochial Church Council of St Alfege. Greenwlch Opinion We have atsdrted the financial statements of the Par0￿￿81 Church Counal of Sl Allege, GreenwKh Ithe"PCC°I for the year ended 31 Def￿r￿ar 2025 whiol eomprise the Statement of Financial ACti¥￿e$, the Balance She￿, and notes te th8 financial $lat¢rwnts. including a summary of8ignffKant accounting polia8s. The finanual ￿POrting framework that has bean applied in their P￿parall0n 1$ applicable law and Unrted Kingdom Accounting Standards, Induding Financial Raporting Standard 102.. The Finandal Reporting Standard apP1Kab￿ in the UK and ReputrI￿of Iraland (Unilad Kingdom Gan8r81ty Accepted Accounting Practice). In our ownion. the financial stalerr*nts'. give a true 8nd fair view of the State of the PCC'S affairs as at 31 0gcernb8r 2025 and of tts incoming resourca$ and appliCat￿n of resources for the year then ended. have been property prepared in accordance wtth United ￿ngdorn GBneralty Acceptod A¢¢ounting Pr4th¢è. have been prepared in accordance wrth the reqU1rery￿nts Of the Charitie5 Ad 2011. 8asis for opinion We conducted our audh in accordance %*ilh Inlemational Standards on Auditing IUKI IISA5 IUKII and applicable law. Our responsibilities undei those Standards are further described in the Audilorfs re5[M)nsibilit￿$ for the audit ol the financial statements section of our report We are independent of the PCC in accordance with the eth￿al requirernents thal are fe￿vant lo our audit ef thg financial statements in the UK. including the FRC'S Ethical Standard, and we have fuWilled our other ethi¢81 responsbilrties in arKotdano with these requii*nent5. We believe that the audit evhyence ￿ have obtained * ￿￿¢1￿1 arnl appropriate to provhle basis for our opinion. Concluslon8 relatlng to golng conc•m In audrtlng the financial $ta¢ements, we have ¢on¢MJded that Ihe PG¢ membors. u80 of the going concem ba8Y& of atyA)unts'n4 in the p￿Parat￿)n of the finantial stat*nènl$ 1$ appropriate. Based on the werk we have performed, ￿ have not identffiad any materk81 uncertainties relating to events or conditK)n$ that. individualty or Co1￿￿1¥erY, may cast significant doubt on the PCCS a￿lty te continue a5 a going conc8rn fo¥ a per￿ of at least 12 months from when Ihfr financial stslements are authonsed for ￿Su￿. Our responsibilrtvas and th8 r8sponsibilrtYas ofth8 PCC men*ers with r8SPeCt lo going conc4ffl are described in the relavant ge￿On$ of thi5 repDrt. Other Infonnatlon Thtr other infotrnalion ￿n￿riseS the infomth'on induded in annual report. Indudlng the PCC ￿￿mberS. report. other than finan¢ial statements and our auditorfs rewrt Iheretsn. The PCC membets are ￿Sponsib￿ for the other infomiaiion contained wlhin the annual rtport. Our opIn￿n on the finantyal Slatemertts not ¢over the other information antl. extxpt to the e¥lenl otherw expli¢ilty staled in our report. we do not exp￿$$ any fom of assuranf* condusion thereon. Our responslbllity b to read the other Infomiatin aThJ. In deln9 so, ConS￿er whethar tha other infoffnalion is rnaterialty inconsisl8nl th the finanual statements or our knowledge obtained in the course ofthe audrt. or Othe￿￿8 appears to be matsrialty mbstated. we idenlfy suth material Inconsistenaes or apparent material mis8tal8ments, we are required to deternine whelhef thi8 gnies rtse to a material misstatement in the financial statements themselves. If, basad en the work wa have perfo￿ed, we condude that there 15 a material misslatemenl of this otl*r infornialion, we are required te report that fact. W8 have Mlhing to ieport in IhB regard. MatterJ on which w8 are required to report by exceptlon In the light of the knowkd9e and uTrJ8rstanding of the PCC and its 8nvironff￿nI otr*ained in the course of the sud￿ we have not identified Material rn1s5ta1err￿nts in the PCC merr*ers' report. We have nothing to report in respect of th8 following matter8 in relation to whth th& charit￿ lknounts and Report51 Regulat￿n9 2008 requires u5 to report to you rf, in our Opin￿n.. adequate and proper accounting records have not been kept. or return$ atlequate fr)r ourautit have not been r￿￿ed from branches not visited by us.. er the finanual 5ts1ements are not in agreernent with ￿￿N￿'Thg remrds and relums.. ar certain disd05u￿s of PCC members, remuneration 5pecffj￿d by18ware not made." or we have not reCe￿ed all the information and explanations we require for our audit. PCC Annual Report 2026- Page 13 of 28 PAROCHIAL CHURCH COUNCIL OF sr ALFEG& GREEN￿CH FOR THE YEAR ENDED 31 DECEMBER 2025 Ih•pomI￿Il11•• ollm PCC mwl*Th As •xtyain2d mttfe in the PCC rn&poMth"i￿ *•thm•n( Ih• ￿¢ mwniA)kry foi th• prepar8tK)n ofthe )anaal 8iatern•nts and lor s•tof*d Ihgl 9N• a vw. and fgr iuth Int•rn￿ cortrol *$ Ih?y d*tèTmine to the ol fin*r￿ fwfrum m*eriil ￿ethIr LILVJ lo Iraud or•rmr. Ir4 pnp8nn9 th• fina￿1 st•M￿lI. the PCC mwr**rs •r* lor •J¥Nsif4 11* PCC'• •bilty to conlnué *$ • 9oing ¢￿¢•￿, ditclc4irffJ. x •FpkaL*. rn*tt•rn ml•tad Io GtyK•rn •nd USMVJ lh• gomg £4￿C•M bal￿ 01•￿￿￿￿tIn￿ Un￿55 th• PCC Audltovi rn4pOn¥1￿ll0•I f0rll* ol th•fin•nGW ¥l•f•M Wè t•en appoinl•rf as •udrtpr 145 •nd rw In •e¢thanc•*th •nd r•knv4nl rngui•ik?r• m•d• pr h•¥ing Our ttbJeciNM 4r• to c*tw'n rt•*ttfiab￿ 48gtsran￿ *r*Jl financial statefflonts w • *r• fr•• from m•iirv•l rni$il•t•ment, wh•thw dw 10 or •rror. #nd 10 Mu• an audws rwt th41 induth our opinkjn RO•$Onab￿ g$surar￿• Y8 h*h ￿¥•1 ol issui•n¢a a gu•r•nt¢• that In iu4it c0TrJ￿￿•j In •cJl gl IM Iln•rKl•l *at•Thni• h kul•d on ￿ Fin•nd•l 14•porting J￿rtI •¢". Iw#w.fr¢ org.uW•thl¢loryrn¥pon*iblt*sl. ¢JMcryknlJm* p•rt ul our t•wrt. UM ￿ our r•port This roport b made soNryty 1¢ fv PCC •• • Ix*. ￿ ￿l￿•ne¥ Part4olthe c*•rkn•• l*4¥>)unts and R•porf•l R•gulA*'orrt 2W8. Our oudil woth hi• t4•n uTrJ•rt4k•n •0 that * mghl ￿11* to ￿ PCC mtyT*•rs' th0￿ mattern we •r• required to st41• 10 Ih•m in an auditorfi and fof no oth•1 puw. To tt* lultst •X1•nt p•mrtted by Iw. do noi acupt or4ssurn re8poniibitsty to •nyoM oth•rth•n Ih•PCC PCC ￿b•r1 81 • bty*. lorouraudrt¥*wk. ts th• r•g0rt. cpinions ha¥8 lorn*d. X•nadln Aud1¢ Limit•d Statsrtory Audltor Chwt•r•d A¢¢ounlart* S Rc*th Hofyj L•M Syn•y S1112SW Li￿* D4t•d. 2 2026 #lersKI￿ 1212rfth• Cunpww" s Ad 2(kX PCC Annual Rep)rt 2026- Page 14 of 28 PAROCHIAL CHURCH COUNCIL OFST ALFEGE, GRE￿{WIcH FOR THE YEAR ENDED 31 DECEMBER 2025 STATEMENT OF FINANCIAL ACTIVITIES R￿tr¢tOd Funds T(*41 fvn ur￿￿￿*￿ R￿￿ct44 Fund$ 2024 Pund& 2025 2025 2024 2024 208A45 129.381 220.874 129,361 i8i.e80 114J36 109,3 5.000 adifflg acbiil• 145,ts7 144.3B2 40Q.838 4JO.QJg 24.059 454.098 48 4UIA134 49.433 $4.937 T(l•1•x￿￿th￿t 449.117 487.e49 452.953 474.54J ee5 e85 1,903 17207 4JJ76 7,846 IF 8¥1 .20n 13.8WI 78 TOl•l￿nd1 ￿UPht1OnVIrd •t1Jtknu•ry 5.951.361 93.346 6.044.707 6947.462 8T.166 8.044.$28 ,9$1,412 d,037,StyJ 5,951,361 PCC Annual Report 2026- Page 15 of 28 PAROCHtAL CHURCH COUNCIL OF ST ALFEGE. GREEN￿CH FOR THE YEAR ENDED 31 DECEMBER 2025 BALANCE SHEET AS AT 31 DECEMBER 2025 PAROCHi•L CHURCH COUNCIL OF ST. *LFEGE, GREENbMCH BALANCE SHEET A8 AT 31 DECEMBER 202$ 2020 L4nd&ptOPOtyforu#• bythèPCC In*islmAnlPropwts$ 477.058 4.495.000 48ts.210 4.495.000 4bl 4dl 50244 917,Sg0 5.823,102 O¢wrs 30278 3.J95 d•posiL* 161.475 2145$9 150.6S21 t¢Wr•rt4U•ts 214.298 103.907 6W4707 -D•sionatéd 5272.570 6Y&,912 5.302.852 648.709 5.951.482 5.951,361 b•trkt• e6018 93.346 T0141 fund• 404707 Approved by thè Parochial Church Council on the 30 Mard) 2026 and signed on rts behalf by.. Graham Voke Treasurer, St Afege Church, Greènwich, SE10 8BJ PCC Annual Reprt 2026- Page 16 of 28 PAROCHIAL CHURCH COUNCIL OF ST AtFEGE, GREENWICH FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng Policies Th¢ Poroehial Church Counthl ofStAifege, Green￿¢￿ Isg regksIe￿d charty with the Charity Commission of England 8nd Wal ith registration number 1133046 with registe￿d offi￿. St Alfege Church, G￿en￿Ch Church Street, London, SE10 98J and ' a public 8ntity und8r FRS 102. The Financial Stat•ments have been prepared in accordance the Church Accounting Regulations 2006, the Charth"es Act 2011 and in a¢LOrdan￿ wth the Charitres Statement of Recommended Practi￿ 2019 ICharitV85 SORP IFRS 10211 and Finanual Reporting Standard 102 IFRS 1021 and have been rounded to units of whole pounds sterfing. The Finanoal Statements a￿ prepa￿d on the historical cost basis. modified for the indusion ol investmpnts at fair ¥alue. The trustees have p￿Pared detailed forecasts an(1 cast) flow proiections whith they believe a￿ based upon reasonable assumpts"ons. The I0￿Cast$ show tt)at the chanty shoukl be to operate for the fo￿seeab￿ futu￿ and Ihus the truste8S consider it appropriate to prepare the financial statements on a going concern bask8. 1{a) Funds General purpose funds represent those frjnds of the PCC that are not subject to any re¥trictioTr3 regarding their use. and whid) are available for application to the general purposes of the PCC. Funds designated for a particular purp058 by the PCC are also unrestricted. The financkil statements incjude all tranSaCt￿)n8, 8ssets ancl liabilrt￿s for which the PCC reswjnsible in law They do not include the a(£ounls of thurch groups that owe their main affiliation to another body nor Ihose that are inforrnal gatherings ol church rnernbers. 11b) Income Voluntary income and capital sources co1￿CtiOnS are recognised when received by or on behalf of the PCC. Planned gNing receivab￿ under Gift Ahl etc. is rècognisad only whèn r6cèived. Ineome Tax recoverable on covenants or Gfft AKI donations is ￿r￿gnISe{l ￿en the Income i8 probabk. Grants and legaaes to the PCC art a¢￿￿ted lor as soon as the PCC is notified of rts kgal entrfement and the amount due. Receipts from fundraising events are a(tounted for gross Sales of guidebooks and other rtems to visitors to the churth are a¢￿Unted for 9ross. Other ordinary income Income from the letting of the church and the churth hall 15 re￿gnIsed when the rental is due with the e￿Ption of the hall hire for children's partyas that is r8cognB8d re￿ived. Income from investrnents Diyhlends and interest are accounted for when recaivabk. Tax recaverable on such incorne 15 rett)gnised in the same a(xounting y8ar. Rèntal incomè from invèthrènt property is recognised then the rent fs due. Galns and losses on Invèstments Realised gains or losses are ￿COgnised lthen Investments are sold. Unrealised gatns or losses are accounted for on revaluation of investr*nts on 31st De￿mber 1(c) Expendlturo Grants Grants and donations are ac£ounted for when paid over, or as soon as oufflow of econornic benefft is probable for example when 8 grant is awarded lif that award fft4tè$ 8 binding obligation on PCCI. Activities directly relating to the work of the church The diocesan quota or parish support fvnd payment is accounted forW￿n pay8ble. This is paKI for in ts%pfve equal dire￿ debil instalrnents and 18 paid in fvjll during the financial year. 11d) Fixed Assets Fixtu￿$, fittings and office equlpment Individual assets that cost kss than £10,000 are I￿ated as an expense in the year of purchase. Depre¢Katson on individual asset5 which cost more than £10,000 15 wovided on a 5traight-line basi5 Using the annual rate of 25% to write off the 8s88ts ovar their tstim8tod usalul lfvas. PCC Annual Report 2026- Page 17 of 28 PAROCHtAL CHURCH COUNCIL OF ST AIFEGE, GREEN￿CH FOR THE YEAR ENDED 31 DECEMBER 2025 Land & property Church and surroundlng curtllage The church and sorne of the surrounding curtilage are cons8crat8d and excluded frorn aco)untability under S.96121 a of the Charities Act. 1993. Maintenance and improvements to the Church an¢J Surrounding ¢urtilage are expensed in the year in which they are incurred. Land and bulldlngs Vthere cost or relKqble market value inforrnation on other land and buildings was not available then land and buildings were reo)gnis&J at PCC'S ests'mata of value in use or development ¢Jse, whith is treated as historic cost going forwards. are costs are incurred on these woperties they ar8 ¢apitali8ed once the work is viable and ￿anning permission ha5 been granted. Depreaation Is not provided on treehold land. Where ihe charity adopts a poliry of maintaining propert￿S to a Standard which Prolongs their lives and enhances their residual value. the PCC o)nsiders any depreaation arisin9 to be insignificant and thè prope￿eS are not dapia¢iated Investment property The c08t of refurkn'shing vacant rent81 property is caw'talised when it is reasonable to expect th81 the increasè in the market value of the property aftèr rèfurbishment will be greater than the cost of the refurbishrnent. Properties subject to statutory 1gnantie8 are valued at 50% of their estimated mark81 value with vacant P0$5ession. Financial instruments The tharity only has financial assets and liabilities of a kind that qualify as basic ffinancial instruments. Basic finanaal instruments are initialty recognised at tran$8ctton value and Subsequ￿ measured at their setttement value. Securltl8S Securities are valued at bSd market value al 31st December. 1(e) Current Assets Amounts wng to the PCC at 31st December in respect of fees. rents or other ino)me a￿ shown as debtors less provision for amounts that may prove nonJ 3.301 109.J36 3.301 114.336 129.a01 I29￿1 Oth•rlrndkng 1,413 1.875 i.e75 1.975 1.07S Inv•ilm•nl¥ Bank &othqrinlqrqsl 3.18 23.140 3,241 25,14J 4.007 22.976 bider￿S 1.856 24,932 117.41K) R¢niBI In¢off 143.$99 2.QS8 145.157 144.3e3 2.018 Totsl ITrEonb• and •ndowrn•n 4BO, 11,217 497.125 4JO,039 24OS• 454.091 PCC Annual Repott 2026- Page 19 tsf 28 PAROCHIAL CHURCH COUNCIL OF ST AIFEGE. GREENWICH FOR THE YEAR ENDED 31 DECEMBER 2025 Expenditurg on: Unr•$11Ctthl Fund RestrKtsd Funds TOT*L Fundg Fund¥ 2025 2025 202$ 2024 24 2024 Rental pr4PEttyexpvns•$ Concwts.•¥ents am otherlnwmè9thieAbn¥ 32M29 13,355 32,129 13.J6S 18.a79 15.072 15,67 15.072 ShOPCOStL¥so1ès 1,898 5,249 1.188 48,092 1,357 4•A33 34.937 34.937 D￿c8$on quota ChuthrnalnlgnarKg & rnpHlrg 140,691 35.028 47,$39 140,1•1 35.028 47.639 91JQQ JM20 99￿27 laAOO 11P40 140.691 33.398 44.327 2,88fj 9.505 g8,Is4 18,651 13.989 3￿34 44￿27 Hili &tBpBir HBII Nnnlnq eynaèi mlnl&traUon ¥taff w$ts Isub6th01pgyoll Clet9yhou$ln9Sffllnlstyg>¥eDi•$ thor 16 5.820 89.527 y,408 98.154 18AOU 11.040 8B79 13,98• 13.035 5.015 7,13B 20,021 2.723 12.717 Churth suppl￿￿ 13.332 S,065 7,238 30.026 2.723 444 307 7.648 18JOI 7048 2?￿2• Olknttssts JM49 Deprecithn Gh4ntab￿G￿rw.Wl5 Sundryllos1¥ 41dJ 8,232 5,SDO 9327 13,$1$ 12.273 5.981 7.630 401,034 17,381 4t8A15 418.016 21.595 43•A11 441.117 1U,Y32 487,149 452,953 21,S•S 474,64B PCC Annual Report 2026- Page 20 of 28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE, GREENWICH FOR THE YEAR ENDED 31 DECEMBER 2025 Fixed Assets 4(a) Land and buildings for use by the PCC The ¢hui¢h and surrounding curtilage are CLJnsecrated and so excluded. Maintenanc& and improvoments are expensed. The church hall and adjoining prernises were acquired in the last century Ihalll, after the last war and later {caretakerfs cottage, nursèry and car park areal and in 1999 (recreation groundl. There were no acquisition cost detsils available. As reliable market valuation was not p05$ible due lo the location in the church grounds, they were recognised al the value in use to the charity, except for thé Old Mortuary Build￿9 which was valued for its development potential. Thi3 IS t￿ated as deemed historic cost goirvJ forwa¥ds. 4(a} Land and buildings for use by the PCC 202S 2024 ccei c￿1 here costs are incurred on these propertlgs, they are capitalised once the work is viable and planning ptrrmi85ion has been grarrted. At 1siJanuary 408.21Q 468,210 Revaluatsor tiSPDsals 31st Dacorthr ¥,648 The h811 value In¢￿ased by £9.648 to refflect the nv nd￿S fN the hall. n,8S8 468,Z10 Coryrf$lng'. ChuFch hall and nursery 177,856 125,000 1CIJ,000 75,000 188,210 125,QOO 10D.000 75.000 Cw wea Cjd rrortuHry ￿lI11r￿a 477.858 488.210 4(b) Investment Properties 2126 2024 The finance committee of the PCC wiewed the rental yields wth consideration for tlw currènt rental income recewed under each ofthe four tenancy agreements, val¢Jed three of the four rental propèrties. Coslore5Im4*4 m•thetVAIu6 Ai#tJanuary hldldonj 4.495,000 4.495.000 A31siD•￿Mb•r 4.49S.O 4,495.aDO The rental yield for nurnber 8 matches th* of 7 and 10. The rentsl yield for number 11 Sl Alfege Passage relects 1he differences in the property speeJfi¢81ions. Comprfsing 7 StAf8ga P4$¥agfj 8 StAfEoe P&3sBqe 10 St Plhgtr Pa8$ago 71 St Plkg• P**i49• 1.170.000 1.170.000 1.170.000 985.000 1.170.000 1,170.000 1,170.000 985,000 4,495.QOO 4.495.000 41c) Office Equipment 4(d) Flxtures, Flttlngs & Equipment 2028 2924 202S Colt A111JonuAry ddhlon 7,725 7,725 Janu 31.435 119.5551 31,135 A31¥1 D*Mmber 7,725 12 315i0￿1￿￿T 7.725 31,435 Accurnu￿t•O D•Ff•cliiknn l$tJafft￿aty D•prqda#offl foTth8 Accumth￿thd D•W•¢l*VOn Pl 1st Jaiu 7,72S 7.72S 31.435 31stO•c•Tnb•r 7.725 7.72S 131st D*4rt#r 11,880 31.43S eook VI￿0 P11slJènuary t4•tBaak V*1 Iltj￿uBry A319t 2,723 1319tD•e•mb•r PCC Annual Report 2026- Page 21 of28 PAROCHIAL CHURCH COUNCIL OF ST AtFEGE, GREENWICH FOR THE YEAR ENDED 31 DECEMBER 2025 Securities Equities 2026 2024 One pool of Amokl investments was sold in 2024 and all proceeds were immediately re-invested into The Churth of England Investment Fund. In 2025. £30,862 of PCC investments were sold. This was to ensure ¢a$h availability in anticipatson ol upcoming fabric repairs. Mark8t Val￿ at 181 January dllb)ns Proc*Js Galn on diswi RevaluatiDn5 Mathet value a131st Dec¢thr 917,S90 893.890 88,870 185.6991 130.8621 685 18,e2J 917.590 850.244 Maturity of short-tsrm doposits, repayable on demand 2025 2024 C**al Bowd OfFI￿rKe oftrtsCtpJthofEroL8nY 3,451 3,395 3.451 3,395 Gains on revaluation or disposal TOTAL FUNDS i)nr￿1r￿Cl￿j ROth¢bd Fund Fund TOTAL Funai Fun¢J 2Q15 2025 2028 2024 2Q24 1023 Anaty41• ofehng•s In th• p•rfad Net I-l0￿) on Net unreAlla4d galn i.10ssI on aeeutib•Y 885 1,903 17.013 1.903 11,825 134,2871 133,6031 12.8811 {37.ISBI Nel realiwd gain {4055) M revalualbngl dlsPOSB {56,4B41 18.916 20,629 Analysis of net assets by fund Un￿$t￿l￿d Funds Re$knthd Funds Tot*1 Fund• Unrestricted Restrict Funds Totsl Fund8 2025 2025 2025 2024 2024 Land & Buiklings Fithire5. Fith'ng5 & Equipment In*$trnènt Property Secufilies cU￿ent￿￿￿8ts Cuffent Liabilities 477,858 477.858 468,210 461210 4,495,000 781.057 240,645 143,0771 4495,000 4,495,000 845.522 72,C69 189.282 25.278 146.6521 14.0001 5,9S1,361 93J46 4,496.000 917,590 214,559 1S0,6521 6,044.707 69.187 20.830 14.0001 261,476 147,077 6.037,500 nd baLqncos 5.951.482 86,018 PCC Annual Report 2026- Page 22 of 28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE. GREEr4￿cH FOR THE YEAR ENDED 31 DECEMBER 2025 Fund detsils Analysis ofthe balan￿ of reSIn'ct￿ funds at 31st De￿mber.. 9(a) Restricted funds Smrth. The trustees ol the Smrth Trust are the members of the PCC and the trust deed allows the trustees to apply the fund'in their absolute discretion" and either as to capital or income for the maintenance, repair and improvement of1h& fabric and contents of Ihe Church. Ch8ncel. The Chancel Fund arises from the Statutory commutation of historic obligatscffls to rewr the chancel. The income is a￿￿mulated until an 8ppropriate requirernent for repair arises. rant9. In 2024. a new grant of s.l￿0 wa$ reeeNed from Royal Borough of Gre¢nwi¢h for Black History iniliabves that were planned in the 2025 ￿lendar of aCt￿lt￿8. Thi8 grant was fvlly expended in 2025 and the final report agreed by Royal Borough of Greenwich. Net Curiert A8¥•ts SocuritlB• Tol•l A￿ty NDt current A880ts S•Gurttkn¥ Totsl A*ets 2025 2025 2026 2024 2Q24 2024 Smith Trust 69,187 69,187 72,069 72.069 Resloratson Pppeal Fund Chancel Fund 1.328 1,273 5,000 1.273 5.000 4.0 9.311 1,694 93,346 Grants Perks 4,000 3.811 7.691 16.830 4.000 9.311 Choir 3,811 7,691 86,018 Chantycollectiens Held Total Ro8trktod FuThJB 1.694 69.187 21.278 72.069 Perks Fund. In 2023, a legacy was received from the Est8te of Nigel Perks. restricted to the use towards Ihè church ¢hoir and musi¢, in th$ 5urn of £10,000. In 2024, £3,0(Xl wa5 expended l¢)w8rds choirstall light$ and £3,(XJO towards the organ repairs. The balan￿ 81 Ihe Close of2024 of £4.000 was heid for 2026 sxpenditur&s. horal Scholarshl Fund. The fund Is to be sponl on four Choral S¢holars as part of th¢ Church Choir per academic year to Summer 2026. Donations including gift aid totalling £3,292 has been received and {in November 20231 the PCC were advised a grant application to the Sir Wlliam Boreman's Foundation lor £15,000 to be paid over 3 years had been successful and the full £15,000 awarded was accounted for in restricted income in 2023. £11,200 has been committed in Choral Scholar grants so far induding £4.(K)O recognised in restricted expenditure accruals in respect of the ftjll grants that have been committed to four stholars in the academic year that commenced in September 2025. Chari Collections. The balanrE of Charity Collections held represents the funds collected on behalf of other charities su¢h as Lent Call and Foodbank_ Funds are distribuleil regul8rty during the year and almost all ¢olle¢tions in 2025 were distributed by the end of the year. Foodbank and Chri51rnas colleclk)ns wll be distributed in garfy January 2026. Only £26 for th8 Malaw tree app881 remains and this will be merged with futu￿ colleelions and payments. PCC Annual Report 2026- Pa8e 23 of 28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE. GREEN￿CH FOR THE YTAR ENDED 31 DE￿MBER 2025 9 Ibl Unrestrlcted funds General D88ignated Purposes Fund5 7rt•1 Unr•8trfctsd Funds General Pu￿OSeS De5ign8ted Funds Totsl Unrestrict& Funds 202S 2025 2025 2024 2024 2024 Land & BuSldlngs Fi>lure5, Frfbng5 8 Equipment In4eslmentProperty D8*lopmenl Costs Seojribes current￿&Sets 477,858 477.868 468.210 468,210 4.495.LMJO 4A95,000 4.495,000 4N95.000 58,864 183,068 140fi771 722,393 57.577 781,057 210A46 93.047 131.704 752,475 57,577 845.622 189,282 CurrentLiabil￿eS 12.4001 143,0771 144,2521 12.4001 148,6S21 678,913 5272.570 6J61A82 648.709 5.302.652 9 (c) Designated funds Tr*tal knokl 8•quo&t Vkndywd Totsi Ob•wJn&t•d Fund• B0WMt Bwu041 Fun Pr¢Jc••d I￿5 202S 2024 2D24 L*la&BuqdtyS FlxlL¥O5. Equlpw 4.495,t 158.029 2,4LKI 12.4WI W$,fp>) 722.393 57,$7T 114001 4,495.rts) 161.810 4￿.18$ 55.ITT 74.1* 7T.289 751471 ,s 11.4001 S5,177 Q,4WI L(￿* T•nnL4bill 4.6&3.029 S.342 74,1 4171SIQ 4,659,610 56&7$4 )01•52 Amold Be uesl.. Arising from a 1939 bequ•st, tha bulk of thi3 funrfs assets now consist of 4 freehold houses adjacent lo the church, purchased in 1947. The original will does not impose any restrictions on the use of the assets by the PCC. The PCC'S reserves policy reo)gnises th8t the income from this frjnd's designated assets is essential if thg PCC is to be aNe lo rneet its routine expenditure. The Ir￿orne from this fijnd's a3sets is available to the PCC for gen6ral purposes as it arises and is not separately repomed in these financial statements. Wood ard Sale Proceeds.. The PCC intends that the prO￿ed$ ol sale of the Woo(tyard should be used to prowdè on incorTFe lo meet the routine expenditure of the ¢*urd). The income Irom this fvnd's assets is available to the PCC for general purposes as it arises and is not separately reported in thèse financial ststernenls. Lowe Be uest.. This 1956 will gwes the PCC absolute discretion to use ihe fund for'rnligious purposes. but express9$ a wish that it be used Io'as5iSt the music at the said Church,. The income re¢eived frorn the lund's assets is considered lo be a contribution by the fund lo the consmlerably greater annual cost of maintaining rnusic in the church and is not Separate￿ reported in these financial statements. PCC Annual Report 2026- Page 24 of 28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE, GREENWICH FOR THE YEAR ENDED 31 DECEMBER 2025 10 Analysis of fund movomgnts during tho ygar In 2025, £23,(X)5 was transferred to the PCC {2024'. £28,347}- this was trom dividend income received Irorn Amold Bequest, Woodyard Sale Proceeds, Lowe Bequest and Smith Trust. Th8 dividends of £4,57412024." £4.4981 received in Ihe Amold fund were used to contrtbute towards the rental propety expenses. Lowe.. Incorne from dividends from the investments Ihat are held in the designated Lowe fund 01 £2,14812024.. £2.087) were used towards the expenses of rnusic and choir including the music library. Smlth.. The income from dividend3 held in the Smith restricted knnd of £2,00312024.' £1,956) was transferred to the PCC lor general purposes to fund Maintenan￿ and repair of the Fabric. Perks.. No fund movements in 2025. The balance at the dose of 2024 of £4,(KIO was held for 2026 expenditures. The dividend income of £14.281 from the Woodyard12024.. £13.86n was transferred to the PCC and usad to contribute towards running costs of the church and hall includirrfJ maintenance works. Ba￿n hicorm & Eyndllure Transfers 1 J8n?S R¢sli Gans UnrnBlixd G&jns Jl Dèc 25 Fund L+mtricted Funds G•nord Purp)ge6 FuThl ￿￿d BequB$l W￿dy￿rd Sak Proc4ed$ LLV4e Beque61 Total Unrestrktfjd Funds 648,709 4.659,610 585.754 460,520 4,374 14,281 2,148 481,522 1449,11n 23,W5 14,5741 (14,2811 678.912 4,663,030 16,seoi 77.288 5.951.361 lJ,D901 134,2871 74.19$ 6.901,492 1449,11n Z,003 Ch8Tity ColOthn5 Sn*h Tru9t 1.$94 72.0 5.000 1.273 4.000 14,229 2,003 18.78 7,891 6•,187 (Za031 Granis- Mslrlded Chunrd Fund N Lego c1￿1r O¢h8rRostrKx•J T¢tsl R¢*W¢t•O Fw*ls Is,000) 1,328 JM11 93,346 16.287 (2.0031 6.044,707 487.810 1487.8491 6.037.5trJ B￿anc4 h)comè & 1 J*n'24 R4*ll$ed GAin$ T14nèf•rn Unrn41ri•d Glirti 31 D•c 24 FuTrd UDro&lrfd•d Funds G4nèrtl Putfftl Bqquqst Woadyard S￿• Prcu•y$ Lowe 8equ•st Tot41 Unr••trkl•d Fund• 661.77 4,655,941 552,71Z 74,031 5,947.483 406.417 6.401 15.497 1452.9531 28.J47 2,11¥ 1,7S6 148,709 6•,610 565.784 77,288 S.9$l,Jfjl J.828 431.942 7.896 RÈ*td¢ted Funds ChantyCr4lxtons Hdd S￿*th Trust Grant5. rn8td¢tad 13.907 1.956 5.000 62 eo 1.894 72,06• 70,456 307 13071 ChAncd Furwj N Pèthè L•4W ¢h¢yr OtherResthcted Donai*?ns Totsl R••irfctsd F￿nd8 1,273 10.000 16.ODOI 100 3,034 24,059 8.311 13,0541 97.186 17.8981 93.31fj 6.044.629 4M.001 1474.548} 18,62S OW.707 PCC Annual Report 2026- Page 25 of 28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE. GREEN￿CH FOR THE YEAR ENDED 31 DECEMBER 2025 11 Staff costs 11 {a) Providers of servlces to the PCC and their emoluments During 2025 the PCC made regular payments lo 1 person to provide Serw￿$, on a part-time basis, as church deaner. One of the Trustees is ernployed as a music librarian and another as a part-time administrator. No other Tnjstees or Key Man8gemenl Personnel are employed by the PCC. Related party Iran$a(*ons for expense reimbursement to trustee$ are docurnented in note 11c. No trusteas r￿1ve other remuneratK)n, rx non-cash benefits for their services as trustees. 111bl PCC employees and thelr emoluments Clergy are paid by the diocese and are not PCC employees. The PCC employs one lull timè officè administrator as well as part time administrator5 supporting Off￿ administration, heritage engagement, choir and concert admini$lr8tion. These employees have employmont contracts, and their emoluments are subject lo deductions of PAYE and NIC. Salaries a recognised in administrative expenses or in Music and choir costs, based on actwity. The tables below show the number of staff and the total cost to thè PCC of employing them. No employees received enwloyee benefits, includirvJ employer Ni and pension, of more that £80.000. Fun¢tloft of empbyees Full li equiv4￿nI 2•21 mini$ts81ion ¢>oyy 91.158 94.84$ Musc and Concert Managermnt npIo￿rP+Th6l￿ •8,1$4 111¢) Related party transactlons Remuneration is paid to PCC members by the authority of S185 01 the Charities Act 2011, amended by 57A ofthe Parochial Church Councils (Powers) Measure 1956. £3,569 (2024.. £3,208) was paKI to a PCC member (Andrew Lewis) for provssion of service for concert administration and supervisi £1,71212(r24.. £1,[￿5) was paid to memb&fs of thé C￿rgY for travel and subsistence. UnreStr￿ed donations of £16,77312024-. £26,040) were received from PCC rnembers. Two lay readers received £275.6212024'. £298) reimbursement for the purchase of books. £10,11612024.. £9,751) was paid Igrossl by way of payroll, to David McEvoy1£8,7001 and Carol Moses 1£1.416) for administralNe activilYè5. £1,00012024'. £4.4911 was paid lo 8 re18ted paty lo a PCC member (Daisy Smilhl for hall Cleanin9 services during 2025. £285 was paid to trust￿ for singing 81 wèddings- same fee as paid to all choir mèmbèrs. No other trustees Of Kèy Mana9èm8nl Personnel recewed expenses. No amwnls were paid to any other PCC mernbers or related parties for travelling, subsistenc& or any other out of pwket expenses in 2025. 12 Debtors 13 Llabllltl•s: Amounts falling due within ono yoar 2026 2024 2025 2024 Prepaymer fyft Red¥4 Rental Depo*i LPWVAT recover8tAe cruad IncoN 3.5 2.359 2.4rA) 5.693 2.800 2,400 1,586 10.120 Rental Propety Deposft rued Ewen58S Taxation and social so￿￿ty Deferred Incorr Sundry C￿dItorS 2,400 12.100 7,157 4.558 20.862 47.077 2,400 23.526 7,157 7,145 10,425 50.652 26,0(X) Other Debtors 4,774 41,123 7,B80 30.278 D•btorn PCC Annual Repott 2026- Page 26 of 28 PAROCHIAL CHURCH COUNCIL OF ST ALFEGE, GREEN￿CH FOR THE YEAR ENDED 31 DECEMBER 2025 14 Lega¢ios 15 Parish Support Fund The Parish SupFX)rt Fund pledge represents thè parish's contribution to the running costs of the diocese including the cost of our own d8rgy and Vicarage. The PCC agree annually the contribubon to be pledged which takes acLount of our glvlng rece¢ved and investment income. 2026 2024 Legacy.. Restricted Lè3acy'. Other Totsl Income from 2025 2024 43,OCM) 43,0 Parish SuppNt Fund 140.891 140,691 16 Maintenance, Repairs and Restoration The mainienance costs of th¢ Church. thJrchyard and hal premises were £44,02912024.' £39,27S}. A spllt oflhe expenditure on maintenance, repairs i8 detailed below. This also includes £12,368 which was planned maintenanc8 that is 8 part of the fabric repairs. Fr￿￿ Unrestrithed Funds From TOTAL Re$In￿e￿ EXPENSE Futh TOTAL EXPENSE 2025 2024 9.000 9.0110 2.886 Chwch P*atiro E￿ctrical Roof & Fbor Ottrer. I￿1. organ & $ourvJ Tower a￿1 do¢k Chw¢tyard 870 10.475 10.551 12.cfjo 1.W3 10 870 10,475 10,561 12,060 1,063 10 433 12.441 4.322 17.299 988 44.028 44.029 39.275 Fundod by: PCC Geroral Pwpoges Woodyard Pefks Legacy 29.747 14.281 29,747 14,281 16.375 13.867 9,034 44,028 44.026 39.275 17 Capltal Commltted: No capital is commitied under any new or current projects at 31st December 2025. 18 Operatlng Lease: A new 60-month contract with CF Corporate Finance was signed in May 2024. Commitments 8131si December 2025. 2025 2024 Within year Betwten and yea Net unrealised g•n l-lo$$l on r•¢luatlm$ 2,282 5,121 7,403 2.282 7.404 Payments madè duing year 2,282 2,211 PCC Annual Report 2026- Page 27 of 28 PAROCHIAL CHURCH COUNCIL OF ST AIFEGE. GREENWICH FOR THE YEAR ENDED 31 DECEMBER 2025 19 Disclosure of trust assots controlled but not owned by the PCC St Alfege Fund: Charity number 1133046-1 The trustees of this long-established registered charty are the PCC members collectively. The charity's objects are'to appty the dear yearfy income towards the upkeep and repair of the fabric of the chureh and $ubJe¢t Iherelo towards the maintenance of services in the church and rnaintenancè of 115 furniture.. Most of the fun¢J was required lo be invested in accumulation shares for 45 years from 3rd De￿rnber 1971. It is a separate ￿al onlity, for all pracltcal purposes the charity is like an endowmgnt fvnd of the PCC. The PCC includes the assets, liabilities and financial activities of the charity in the finanual statements ofthe PCC by way of a notg lo the ac£ounls. 58cwttlqs CCLA.. C8F CtruthdEffj￿1r148sb￿F 10a.173 175,176 169.1n 17S,176 8.258 Cr•dkorè pcc 174.429 17&565 MÈ". Dw4d*vJ$ 4.754 4,868 4.7S4 GriN 10 PCC SIAlegè 13,7(N)I In 2023 the PCC collectivety as Trustees resolved to transfer the income held in the St Alfege Fund bank actx)unt and future income annually to the PCC lo be uséd lowafds the upkeep and repair of the fabri¢ of the churth and subie¢l thereto towards the maintenance of services in the ¢hurch and Maintenan￿ of its fumiture.. In 2024 £3,7rx) was translerred to the PCC. In line with thè PCC held investments no change was made to thtr investmeni strategy for this Fund in 2024 with investments r$rnaining in CBF Churc* of England Inveslmgnl 17,Crt)31 12,1361 4,974 176.564 171.591 esdd 3181D￿￿eT 174.429 17S,564 Fund Inwme Shares.. These afe held via CCLA and is a Fund which is actively managed and invests in several'asset dassès. including equities. fixed interest seojrities. privatè èquity. property and cash. PCC Annual Report 2026- Page 28 of28