2024-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of Limpsfield And Titsey

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Charity Registration no. 1133240

Annual Report & Financial Statements 31 December 2024

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report and Financial Statements 2024
Contents
	Page
Legal and administrative information	2
Report of the Parochial Church Council	3
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9

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PAROCHIAL CHURCH COUNCIL	PAROCHIAL CHURCH COUNCIL	PAROCHIAL CHURCH COUNCIL	OF LIMPSFIELD AND TITSEY	OF LIMPSFIELD AND TITSEY
Legal and Administrative Information
For the year ended 31	December 2024
Charity Name	Parochial Church Council Of Limpsfield and Titsey
Principal Address	Parish Office, High Street, Limpsfield, Oxted, Surrey, RH8 0DG.
Charity Registration	1133240. The church was registered with the Charity Commission on 10 December 2009.
Governing Document	Parochial Church Council Powers Measure (1956) as amended and Church Representation
	Rules.
Objectives	Promoting in the ecclesiastical parish the whole mission of the Church.
Members of the PCC	The Trustees who served during the year or who were serving at the date of this				report
	were:
Clergy	Helen Cook (Rector)
Wardens	Joy Moore		(stepped down 28 April 2024)
	Nila Spiller		(re-elected 28 April 2024)
	Stephen Tuddenham		(elected 28 April 2024)
Deanery Synod	Paul Budgen
Representative
	Marcell Wright (retiring 11		May	2025)
Elected members	Caroline Campbell		(secretary, elected 2017)
	John Biles		(retiring 11 May 2025)
	Lynda Boast		(stepped down 28 April 2024)
	Sarah Ching		(retiring 11 May 2025)
	Charlotte	Corrish	(retiring 11 May 2025)			Commented [JH1]:Charlotte was excluded from Caroline’s list
	Lindsey Dunbar		(stepped down 28 April 2024)
	Pauline Whyte		(stepped down 28 April 2024)
	Pat Davies		(retiring 11 May 2025)
	Ann Hollywood		(retiring 11 May 2025)
	Gareth Morgan		(retiring but will be co-opted again 11 May 2025)
	Stephen Tuddenham		(became church warden on 28 April 2024)
	Dominic Campbell		(retiring 11 May 2025)
	Jane Tozer		(elected 28 April 2024)
	Nicola Tickler		(elected 28 April 2024)
Key Management	Those in charge of planning, directing, controlling, running and operating the Charity,
Personnel	including those members of staff			who are the senior management personnel to whom the
	trustees have delegated significant authority or responsibility in the day-to-day running of
	the charity, are Nila Spiller,		Stephen Tuddenham and Caroline Campbell.
Bankers	NatWest
Independent Examiner	Sheila Parry ACCA
	SPX Oxford Ltd
	Peace House, 19 Paradise Street
	Oxford OX1 1LD
Quinquennial Inspector	Andy Burrell
	Carden & Godfrey Architects
	33 Clerkenwell Close
	London EC1R 0AU
					2

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2024

The Parochial Church Council of Parochial Church Council (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2024. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)). The legal and administrative information set out earlier in this document forms part of this report.

Trustees Appointment and Training

The Trustees of the Charity are members of the Parochial Church Council (PCC) of St. Peter’s Limpsfield and Titsey and are either ex-officio or elected. The Rector is ex-officio; the Churchwardens are elected annually at the Annual Parish Meeting and are ex-officio members of the PCC. A Deanery Synod member is elected every three years at the Annual Parochial Church Meeting (APCM) and is an ex-officio member of the PCC for that period. The remaining members of the PCC are elected annually at the APCM. The PCC also has the power to co-opt one member. New members are inducted by the Rector and the Parochial Church Council.

Management Arrangements

The Parochial Church Council met on six occasions in the year to 31st December 2024. The PCC primarily discussed financial affairs, mission work among the local community, ways of building up the wider fellowship of the Church, and engagement with stakeholders in the local public realm. Details of these discussions are included under ‘Activities in the course of the year’ below. The PCC’s Standing Committee met six times in the year to discuss general church matters, advise the PCC where necessary, and enact decisions as delegated by the PCC.

Risk Management

The Trustees continued to assess the major risks to which the Charity is exposed, particularly those related to the operations and finances of the Charity. A risk assessment policy covering Christian mission, leadership, communications with the wider community, property security and fire detection, site security, property maintenance, compliance with charity and employment law and financial controls and management was reviewed during the year. A disaster recovery plan, to be followed in the event of a major disaster and setting out steps to be taken with respect to key personnel and specific tasks was also reviewed.

Safeguarding

Regarding the PCC's obligations to safeguard children and vulnerable adults, the members of the PCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.

2. Activities & Strategies

The aims of the PCC are to work with the Rector in promoting the Parish of St. Peter’s Limpsfield and Titsey and the whole mission of the Church, pastoral, evangelistic, social and ecumenical. In addition to the Church the PCC is responsible for three community activities, the Church Hall, Glebe Meadow and Pavilion and the Parish News.

The PCC has again given due regard to the Charity Commissions’ guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. To this end the PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:

worship and prayer
learning about the Gospel, and its engagement with the insights and values of contemporary society, and its dialogue with those of others faiths, or none; and informing the resolve to live according to 'the mind of Christ' (1Corinthians 2)
provision of pastoral care for people living in the parish
support for outreach and works of compassion

3. Review of the Year and Plans for 2025

Would you believe that it’s nearly five years since I joined the Limpsfield and Tatsfield team as your Rector. I continue to give deep thanks to God and count it a blessing and privilege to serve you.

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2024

This year has seen some changes both at St. Peter’s and in the wider team. We said a fond farewell to our Ordinand Vic who moved on to serve her curacy in Horley. In June we welcomed our curate Debra who is living in the rectory in Tatsfield. Paul our lay minister remains a faithful member of our ministry team. In the wider team Paul & Christine Perkins have retired from St. Andrew’s and we wish them well in their retirement.

I am thankful to our Church Wardens, Nila and Stephen, our vergers Jane and Geoff, Treasurer, Gareth, Parish Administrator, Caroline, Doug who looks after the churchyard and hall, Cole our Musical Director and Graham our organist. Charlotte Corrish our Safegaurding officer is stepping down this year after many years of faithful service and I’m pleased to say that a new member of our church David Rigby has agreed to take on this role. Thank you all for your unwavering commitment and service. What an amazing team we have!

I am also profoundly grateful for each volunteer, team, and committee member and of course our musicians, bell ringers and servers. Thank you for your faithful service and dedication—I feel blessed to be part of such a remarkable community, and I’m very appreciative of each one of you.

Attendance and participation are up particularly at our All Age Service where we often have over 100 adults and children enjoying the informality of the service. Members are engaging and re-engaging in a fresh and vibrant way, and newcomers continue to join us and are finding a home.

In our outreach to the wider community, our newly formed Carer and Baby group is going well, it’s wonderful to watch them supporting one another. Musical Memories continues to be extremely popular, the fellowship which is offered there is invaluable to many. Jane, Debra and I continue to visit Limpsfield Infant School each week to lead Collective Worship and I go to Hazelwood once a fortnight to lead an assembly. The schools and Panda Nursery also enjoy visiting the church at Christmas and Easter and Harvest.

Offering Bereavement support to those recently bereaved and pastoral visits to those at home and in nursing homes continues to be an important part of my ministry. I often remind people that I’m priest to the parish not just the church!

Finally, our APCM is an opportunity to stop and take stock and to remind ourselves once again what a blessing it is to journey through the seasons of life with Christ and with one another, please do join us of you can.

Church Building

We are conscious of the responsibility we have to maintain the fabric of our beautiful church and are grateful to both the Limpsfield Church Trust and the Friends of St. Peter’s who offer us the financial support needed to keep our church in good repair. The last quinquennial inspection was undertaken in December 2021. The main observation was that the church building is generally in very good condition and well maintained, however, we will be replacing the roof of the South Aisle in 2025. The Hewstone slate was purchased for this purpose within the last financial year.

4. Financial Review

4.1 Financial Activity and Financial Position

The PCC’s main sources of funding have been the free will offerings of congregants, donations from trusts and lettings income and legacies.

A deficit of £48,853 was recorded in 2024 (2023: surplus of £127,321). This was effectively solely due to the purchase of the Hewstone slate for the roof of the South Aisle which was necessary pre-emptive expenditure. 2024 continued to be a year where St Peter’s increasingly continued the transition from dependence from income from earned income of individuals, and moved to increasing dependency on receiving its income from Wealth, Investments, Commercial Activities and Fundraising. This is the norm for most Charities now in the UK.

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY	PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY
Report of the Parochial Church Council
For the year ended 31 December 2024
The balance sheet shows total net assets of £832,622 (2023: £881,475).
The Church has three types of funds: unrestricted, restricted and designated. Included in total funds are amounts totalling
£335,712 (2023: £338,219) which are restricted. These balances have either been raised for, and their use restricted to,
specific purposes, or they comprise donations subject to donor imposed conditions. Full details of these restricted funds
can be found in note 9 to the accounts together with an analysis of movements in the year. Restricted cash funds, totalling
£14,079, are those that can only be used in accordance with the specific purposes set out by the donors. In addition,
there are non-cash restricted funds: The Val Darkin Fund and the house in Padbrook where any proceeds from a future
sale can only be used to purchase further	clergy accommodation.
4.2 Reserves Policy
The PCC has examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed
assets. The PCC considers that, given	the nature of the church’s work, free reserves should be equivalent to
approximately 4 months’ routine unrestricted fund expenditure, plus committed future expenditure on other projects,
where funds permit. The PCC is of the opinion that this provides sufficient flexibility to cover temporary shortfalls in
income and will allow the PCC to cope and respond to unforeseen emergencies whilst specific action plans are
implemented. At 31 December 2024 the church had net free reserves of £437,977 (2023: £484,868) as follows:
	2024 2023
	£ £
Total reserves	832,622 881,475
Less: restricted funds	(335,712) (338,219)
Less: unrestricted fixed assets	(58,933) (58,388)
Free reserves	437,977 484,868
Free reserves requirement:
4 month’s budgeted routineunrestrictedexpenditure 80,000 80,000

By approving the accounts on 19 March, the	PCC are aware of the excess and are content with it at his time knowing there could
be expenditure required and the surplus is invested to maximise income.
5. Financial Plans for Future Periods
With the need to continue to build the effectiveness of our Church by the use of ‘paid for’ services such as book-keeping,
Choir Direction, Organist and staffed office and with the need to keep our Grade 1 Listed Church in good condition, our
‘fixed’ cost base is, inevitably, relatively high. Further, we would wish to support the Diocesan Clergy costs to the best
of our ability.
Over the last year we have now reached a plateau in Planned Giving. We do expect a significant reduction in planned
giving due to older members of our Church likely to fall away, and we will do well to maintain these levels of giving in the
coming years. However, we are looking to maximise income from legacies, commercial activity and fundraising.
The Church now has cash reserves of nearly £832,622 but the PCC is resolved to preserve these reserves against future
uncertainties and any significant projects will need to be carefully considered. In the meantime, the reserves have been
securely invested in interest bearing accounts.
	5

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Report of the Parochial Church Council For the year ended 31 December 2024

6. Responsibilities of Trustees for the Financial Statements

The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the income and application of income of the charity for that period.

In preparing those financial statements, the PCC is required to:

select suitable accounting policies and apply them consistently;
observe the methods and principles of the Charities SORP
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.

The PCC is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports Regulations 2008 and the provisions of the governing document. The PCC is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.

7. Approval

The report of the PCC was approved by the PCC on 19 March 2025 and signed on its behalf by:

Rev. Helen Cook Rector

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Statement of Financial Activities For the year ended 31 December 2024

Unrestricted Funds 2024 £ 146,325 6,005 63,344 38,242		Unrestricted Funds 2023 £ 265,047 7,220 72,082 26,333 370,682 44,333 194,581 238,914 - 131,768 - - 131,768	Restricted Funds 2023 £ - - - 916 916 - 5,006 5,006 (357) (4,447) - - (4,447)	Total 2023 £ 265,047 7,220 72,082 27,249
	Total
	2024
	£

	146,325
	6,005
	63,344
	39,259
253,916				371,598
	254,933
42,661 257,601 300,262 - (46,346) - - (46,346) 543,256 496,910				44,333 199,587

	42,661
	261,548
				243,920
	304,209
				(357)
	423
				127,321
	(48,853)
				- -
	-
	-
				127,321
	(48,853)
		411,488	342,666	754,154
	881,475
		543,256	338,219	881,475
	832,622

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Balance Sheet

For the year ended 31 December 2024

		Unrestricted	Restricted
		Funds	Funds	Total	Total
	Note	2024	2024	2024	2023
		£	£	£	£
Fixed Assets
Tangible Assets	5	58,933	305,000	363,933	363,388
Investments	6	-	16,633	16,633	16,210
		58,933	58,933 321,633	380,566	379,598
Current Assets
Debtors	7	19,602	-	19,602	10,591
Cash At Bank And In Hand		429,961	14,079	444,040	500,578
		449,563	449,563 14,079	463,642	511,169
Creditors - Amounts Falling Due
Within One Year	8	11,586	-	11,586	9,292
Net Current Assets		437,977	14,079	452,056	501,877
Net Assets		496,910	335,712	832,622	881,475
Represented By:
Restricted Funds	9	-	335,712	335,712	338,219
Unrestricted Income Funds	10	496,910	-	496,910	543,256
Total Funds		496,910	335,712	832,622	881,475

The financial statements were approved by the PCC on 19 March 2025 and signed on its behalf by:

Rev Helen Cook

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2024

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at market value.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members.

The PCC meets the definition of a public benefit entity under FRS 102.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

The income from trading activities includes rental income from the letting of church premises and leasehold land and buildings which is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.

Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.

Grants payable are payments made to third parties in furtherance of the PCC’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the PCC.
Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent audit/examination and legal fees.

The PCC contributes to certain employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the charity. The cost in the accounts is the amount of contributions paid and payable during the year.

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2024

1. Accounting Policies (continued)

Rentals under operating leases are charged as incurred over the term of the lease.

Tangible Fixed Assets

Consecrated Property and Moveable Church Furnishings. Consecrated land and benefice property such as the church building and vicarage is excluded from the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Freehold Property . The freehold property is stated at cost. Expenditure incurred on maintenance is expensed, while expenditure on improvements is capitalised. No depreciation is charged, as the residual value after its estimated useful life is expected to be at least equal to the carrying value. An annual review is conducted to ensure this assumption remains appropriate, and any impairment is recognised in the financial statements if required.

Leasehold Property . The leasehold property is stated at cost. Expenditure incurred on maintenance is expensed, while expenditure on improvements is capitalised. No depreciation is charged, as the residual value is expected to exceed the carrying value. An annual review is conducted to ensure this assumption remains appropriate, and any impairment is recognised in the financial statements if required.

Other Fixtures, Fittings & Office Equipment. The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful lives of the assets, which have been estimated as 3 years.

Investments

Listed investments are stated at market value. Realised and unrealised gains and losses on investments are reflected through the Statement of Financial Activities.

Debtors Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2024

2. Income

Unrestricted Funds 2024 £ Voluntary income Donations 121,547 Income tax reclaimed 22,777 Legacies 2,000 146,324 Charitable activities Fee income (net) 6,005 Other trading income Parish News 3,498 Lettings income – Hall 26,612 Lettings income – Glebe 22,625 Other 10,609 63,344 Investments Dividends - Interest 23,543 Rent income – Padbrook property 14,700 38,243 253,916	Restricted Funds 2024 £ - - - 0 - - - - - 0 1,017 - - 1,017 1,017				Total 2023 £ 134,322 22,703 108,022
			Total
			2024
			£

			121,547
			22,777
			2,000
					265,047 7,220 3,571 34,089 31,931 2,491
			146,324

			6,005


			3,498
			26,612
			22,625
			10,609
					72,082 916 7,733 18,600
			63,344

			1,017
			23,543
			14,700
					27,249
			39,260
					371,598
			254,933

3. Expenditure on Raising Funds

Unrestricted Funds 2024 £ Fundraising 7,515 Parish News 3,484 Glebe property 1,395 Padbrook property 8,582 Hall running 21,685 42,661	Restricted Funds 2024 £ - - - - - 0				Total 2023 £ 4,352 3,466 8,266 758 27,491
			Total
			2024
			£

			7,515
			3,484
			1,395
			8,582
			21,685
					44,333
			42,661

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2024

4. Expenditure on Charitable Activities

Unrestricted Funds 2024 £ Provision of Clergy (including Common Fund) 105,500 Church life & outreach 15,613 Gifts & grants (see note 4a) - Office costs 34,025 Provision of Church building, facilities & equipment 100,473 Governance 1,990 257,601	Restricted Funds 2024 £ - - 445 - 3,502 - 3,947				Total 2023 £ 102,000 17,455 2,916 39,732 37,184 300
			Total
			2024
			£

			105,500
			15,613
			445
			34,025
			103,975
			1,990
					199,587
			261,548

4a Gifts & Grants

Gifts and grants included within Expenditure on Charitable Activities are as follows:

Unrestricted Funds 2024 £ Gifts & grants to: Organisations - Individuals - 0	Restricted Funds 2024 £ 245 200 445				Total 2023 £ 2,816 100
			Total
			2024
			£


			245
			200
					2,916
			445

4b Staff Costs

Included within expenditure on charitable activities are the following staff costs:

Wages and salaries SMP recovered Pension costs Of which the following relate to Key Management Personnel: Wages and salaries Pension costs		2024		2023
		£		£

		20,380		21,675
		(3,022)		-
		403		441

		17,761		22,116


		20,380		21,675
		403		441

		20,783		22,116

The average number of employees during the year was 1 (2023: 1), being x (2023: 1) part time administrator. No employees received payments in excess of £60,000 during the year.

PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY	PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY	PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY	PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY	PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY	PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY	PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY
Notes to the Financial	Statements
For the year ended 31	December 2024
5. Tangible Fixed Assets
			Freehold	Leasehold
			land &	land &		Office
			buildings	buildings	equipment		Total
			£	£		£	£
Cost/valuation
At 1 January 2024			305,000	58,277		798	364,075
Additions			-	-		695	695
Disposals			-	-		-	-
At 31 December 2024			305,000	58,277		1493	364,770
Depreciation
At 1 January 2024			-	-		687	687
Charge For Year			-	-		150	150
Disposals			-	-		-	-
At 31 December 2024			0	0		837	837
Net Book Value
At 31 December 2024			305,000	58,277		656	363,933
At 31 December 2023			305,000	58,277		111	363,388

All of the fixed assets are used	for charitable purposes.
The freehold property is the residential property at		24 Padbrook, Limpsfield RH8 0DW.
The leasehold property is the leasehold interest in the office at			Parish Office, High Street,		Limpsfield, Oxted, Surrey,
RH8 0DG. A 999 year lease was agreed in 1997.
6. Fixed Asset Investments
						Total	Total
						2024	2023
						£		£
At 1 January						16,210	16,199
Additions at cost (dividends reinvested)						-	368
Sale proceeds						-		-
Net gain/(loss) on revaluation						423	(357)
						16,633	16,210

The quoted investment is in the M&G Charifund Income units (2023: M&G Charifund Accumulation units).
							13

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2024

7. Debtors Prepayments Statutory Maternity Pay recoverable Lettings receivable Gift Aid receivable Accrued interest 8. Creditors - Amounts Falling Due Within One Year Trade creditors Accruals Other creditors including taxation and social security 9. Restricted Funds 9a: Current Year At 1 January 2024 £ Income £ Expenditure £ Transfers £ Churchyard maintenance 3,502 - (3,502) - Harvest Festival/WaterAid 282 - (245) - Val Darkin Fund 16,457 1,017 (200) - St Bartholomew’s fund 1,735 - - - Church projects incl. AV & Media, lighting & heat conservation 11,243 - - - Freehold property 305,000 - - - 338,219 1,017 (3,947) 0	7. Debtors Prepayments Statutory Maternity Pay recoverable Lettings receivable Gift Aid receivable Accrued interest 8. Creditors - Amounts Falling Due Within One Year Trade creditors Accruals Other creditors including taxation and social security 9. Restricted Funds 9a: Current Year At 1 January 2024 £ Income £ Expenditure £ Transfers £ Churchyard maintenance 3,502 - (3,502) - Harvest Festival/WaterAid 282 - (245) - Val Darkin Fund 16,457 1,017 (200) - St Bartholomew’s fund 1,735 - - - Church projects incl. AV & Media, lighting & heat conservation 11,243 - - - Freehold property 305,000 - - - 338,219 1,017 (3,947) 0	2024 £ 3,914 1,075 2,571 5,524 6,518 19,602 2024 £ 10,065 1,420 102 11,587 Gains/ (losses) £ - - 423 - - - 423	2023 £ 3,788 - 1,384 5,419 - 10,591 2023 £ 7,557 1,506 229 9,292	2023 £ 3,788 - 1,384 5,419 - 10,591 2023 £ 7,557 1,506 229 9,292
		2024
		£

		3,914
		1,075
		2,571
		5,524
		6,518

		19,602


Trade creditors Accruals Other creditors including taxation and 9. Restricted Funds 9a: Current Year Churchyard maintenance Harvest Festival/WaterAid Val Darkin Fund St Bartholomew’s fund Church projects incl. AV & Media, lighting & heat conservation Freehold property		2024
		£

		10,065
		1,420
		102

		11,587


	At 1 January 2024 £ 3,502 282 16,457 1,735 11,243 305,000 338,219		At 31
			December
				2024
				£

				0
				37
				17,697
				1,735

				11,243
				305,000

				335,712

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements For the year ended 31 December 2024

9. Restricted Funds (continued)

9b: Prior Year Churchyard maintenance Harvest Festival/WaterAid Val Darkin Fund St Bartholomew’s fund Church projects incl. AV & Media, lighting & heat conservation Freehold property		At 1 January 2023 £ 8,208 282 15,998 1,935 11,243 305,000 342,666		Income £ Expenditure £ Transfers £ - (4,706) - - - - 916 (100) - - (200) - - - - - - - 916 (5,006) 0	Income £ Expenditure £ Transfers £ - (4,706) - - - - 916 (100) - - (200) - - - - - - - 916 (5,006) 0	Income £ Expenditure £ Transfers £ - (4,706) - - - - 916 (100) - - (200) - - - - - - - 916 (5,006) 0	Gains/ (losses) £ - - (357) - - - (357)	At 31	At 31
								December
									2023
									£

									3,502
									282
									16,457
									1,735

									11,243
									305,000

									338,219

Descriptions of the various restricted funds are as follows:

Churchyard maintenance . Funds received specifically for the maintenance of the churchyard
Harvest Festival/WaterAid . Collection and distribution.
Val Darkin Fund . Funds received specifically for the assistance of those in need. The assets of the fund were held in M&G accumulation units but have been switched to income units in 2024. Payments are made from cash and therefore the restricted fund, shown here, is currently less than the value of the investment. Going forward, following the switch to income units in 2024, payments will be made out of dividend income and therefore, without the reinvestment of dividend income, the expectation is that the restricted fund, comprising investment and cash, will have a value in excess of the investment value.
Church projects incl. AV & Media, lighting & heat conservation . Funds received for these projects in the church building.
St Bartholomew’s fund . Funds received specifically to help people from the church or Limpsfield school who need financial help.
Freehold Property . The property at 24 Padbrook, Limpsfield RH8 0DW. Any proceeds from a future sale can only be used to purchase further clergy accommodation.

At 1 January 2024 £ 540,656 2,600 2,600 543,256
At 1 January 2024 £ 540,656 2,600 2,600 543,256	At 31
	December
		2024
		£

		493,230


		3,680

		3,680

		496,910

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PAROCHIAL CHURCH COUNCIL OF LIMPSFIELD AND TITSEY

Notes to the Financial Statements

For the year ended 31 December 2024

10. Unrestricted Funds (continued)

10b: Prior Year Unrestricted Designated Friends of St Peters		At 1 January 2023 £ 411,488 0 0 411,488		Income £ Expenditure £ Transfers £ 368,082 (238,914) - 2,600 - - 2,600 0 0 370,682 (238,914) 0	Income £ Expenditure £ Transfers £ 368,082 (238,914) - 2,600 - - 2,600 0 0 370,682 (238,914) 0	Income £ Expenditure £ Transfers £ 368,082 (238,914) - 2,600 - - 2,600 0 0 370,682 (238,914) 0	Gains/ (losses) £ - - 0 0	At 31	At 31
								December
									2023
									£

									540,656


									2,600

									2,600

									543,256

The transfers from designated to unrestricted represent the direction of the PCC not to continue with designated funds for the foreseeable future.

Friends of St Peters . Funds received from the Friends of St Peters and set aside by the PCC will be used to help fund the restoration of the roof in the South Aisle.

11. Related Party Transactions

Members of the PCC made donations of £9,311 in 2024 (2023: £9,071) to the church.