Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2024
for
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Thorne Widgery Accountancy Ltd
Chartered Accountants
2 Wyevale Business Park
Kings Acre
Hereford
Herefordshire
HR4 7BS
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Contents of the Financial Statements for the Year Ended 31 December 2024
|
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Page |
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Report of the Trustees |
1 |
to |
4 |
Independent Examiner's Report |
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5 |
|
Statement of Financial Activities |
|
6 |
|
Balance Sheet |
|
7 |
|
Notes to the Financial Statements |
8 |
to |
16 |
Detailed Statement of Financial Activities |
17 |
to |
18 |
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
for the Year Ended 31 December 2024
Report of the Trustees
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2024.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
ThePCCinco-operationwiththeLeadershipTeamhasresponsibilityforpromotingintheecclesiasticalparish the
whole pastoral, evangelistic and ecumenical mission of the Church.
ThePCCisthelegalbodyconstitutedtotakeresponsibilityfortheoveralllifeofthechurchintheparishandin this
regardithasbeenimportantthatthePCChasbeenfullyengagedinbothregularreviewofprogressand in
forward-lookingdevelopmentplanning.ThroughouttheyeartheCouncilhasworkedwiththeLeadershipTeam in
ensuring that all aspects of the Church's work are reviewed and talked through.
Public benefit
Indraftingthisreportthetrusteeshavecompliedwiththedutyinsection4oftheCharitiesAct2011tohave due
regard to public benefit guidance published by the Charity Commission.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
A review of charitable activities undertaken by the charity.
Church attendance
TheElectoralRollnumberreturnedtotheDiocesein2025was147comparedwithafigureof149inthereturns for
2024.
Review of the year
2024broughtamixtureofdifficultdecisionsandwonderfulcelebrations,theparticularhighlightbeingthe 950th
CelebrationofthefoundingofStPeter'sChurch;itstartedwithaspecialservicewhichsawafullStPeter'sChurch of
pastandpresentmembers,alsoincludingTheLordLieutenantofHerefordshire,theBishopofHerefordandthe Mayor
ofHerefordasspecialinvitedguests.Therewasaseriesofeventsthroughoutthesummertocommemorate this
specialoccasion,includingamusical,orchestralconcerts,anartinstallation,abarndance,anintercultural quiz
night, and a Bishop's Study Day.
WewerepleasedasourworkwiththeUkrainiancommunitywasrecognisedintheformofcontinuationfunding from
theCountyCouncilforanotheryear,thisalsobroughtsomewonderfuleventstoStPeter'sintheformof an
interculturalpancakeevening,aStNicholasDaycelebrationandathankyoumealfromtheUkrainiancommunity to
allthehostsandvolunteersthathavewelcomedthemtoHereford.OurworkwithStJamesSchoolandSt Thomas
Cantilupe also continued to grow with weekly assemblies, and Experience Easter, Pentecost and Christmas events.
2024willalsoberememberedastheyearthatpermissionfinallycamethroughtocompletephaseoneoftheSt James
reorderingscheme;thishadbeenyearsintheplanningbutlockdownsandtheplanningprocesskeptpushingback the
timescales.Thenewmoderndaisandmoveablechairsprovidingamuchmoreflexibleandaccessiblespacefor both
the church community and St James school who use it on a regular basis.
Alongwiththerhythmsofchurchlifebacktonormal,theexcitementofthe950thCelebrationsandthelong awaited
reorderingofStJameschurchbuilding,thePCCalsospentalotoftimecontemplatingthefutureforthechurch. We
havesuccessfulnegotiatedthedifficultiesoftheglobalpandemic,acostoflivingcrisisandthewarinEurope,but we
areveryawareofthechallengesthatstilllieahead;notleastthehugemaintenancecoststoStPeter'soverthe next
fewyears.AlongsidethisweweretakingonagreaterdealoftheSPSJProjectcostsinthecomingyear.InMay the
PCCdecidedtohaveanawayday,seekingGod'swillforourchurchandhowwecancontinuetobegood stewards
withtheresourcesthatwehave.ThisledtousbringingtheSPSJProjecttoanendayearearlierthanplanned and
twofulltimemembersofstaffmovingon.WeremaingratefulforthebackingoftheDioceseofHerefordonthis big
andboldproject,wepraiseGodforwhattheprojectwasabletoachieveandweremainhopefulfor2025as we
continue to work with our partners across the city.
Page 1
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
for the Year Ended 31 December 2024
Report of the Trustees
FINANCIAL REVIEW
Financial position
TheStatementofFinancialActivitiesshownetexpenditurefortheyearofarevenuenatureof£110,468 (2023:
£52,951 net income).
Thetotalreservesattheyearendstoodat£798,290(2023:£908,759),ofthis£498,805(2023:£503,190)related to
unrestricted funds.
Freeunrestrictedliquidreservesamountedto£54,377(2023:£59,333).Furtherdetailsoffundscanbefoundin note
of the accounts.
Investment policy and objectives
Investments are held for the long-term and the PCC continue to monitor performance on a regular basis.
Reserves policy
ItisthepolicyofthePCCtomaintainsufficientreservesfortheday-to-dayrunningrequirements.Inaddition to
Unrestricted funds, Reserves Note to the Accounts details the resources available held as Restricted Funds.
FUTURE PLANS
1. Review the staff team with 3 people moving on in 6 months.
TheSPSJstaffteam(comprisingGeriMiller,SandraZhukovaandClaireMorgan)continuetoplayacrucialpart of
SPSJ'sministry.Sandra'sUkrainianworkisfundedviatheCouncilonanannualbasisandiscurrentlyassured until
December 2025.
FollowingtheendoftheSPSJ/Diocesanproject,Geri'sandClaire'spostarefundedfromSPSJandtoprovidealevel of
security,thePCChaveagreedfundingthroughuntilJanuary2026whilstthefutureteamrequirementsandcosts are
determined.
2. Review phase 2 for the St James reordering now phase 1 is complete. So kitchen and being more energy efficient.
TheimprovementsfromthePhase1reorderingatStJameshavemadethechurchamuchmoreflexiblespace which
is already being utilised to great effect including the Thursday Toddler group and Messy Church.
AttentionisnowturningtothescopeandspecificsofPhase2whichislikelytoencompassrenewingthekitchen and
making the building more energy efficient.
3. Set a 5 year plan for the maintenance work needed at St Peter's.
StPeter'sbuilding,particularlytheroof,willrequiresignificantworkandconcertedactivitytoformulatea5 year
plan to scope and secure external funding streams will be required.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Parochial Church Council Powers Measure (1956) as amended and church representation rules.
Charity constitution
StPeter'swithStOwenandStJamesPCCisruninaccordancewiththeCharitiesAct2011,theParochial Church
Council Powers Measure (1956) as amended and the Church Representation Rules
Recruitment and appointment of new trustees
TheTrusteesarealsoMembersofthePCCandareeitherexofficioorelectedbytheAnnualParochialChurch Meeting
(APCM) in accordance with the Church Representation Rules.
Page 2
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
for the Year Ended 31 December 2024
Report of the Trustees
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
Committees
ThePCCoperatesthroughvariouscommittees,whichmeetsasrequiredbetweenfullmeetingsofthePCC. This
structure was reviewed in May 2018 and the committees below have operated since then.
Standing Committee
ThisistheonlyPCCcommitteerequiredbylaw.IthasthepowertotransactthebusinessofthePCCbetween its
meetings, subject to any directions given by the council.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1133769
Principal address
St Peter’s and St James’ Parish Office
St Peter’s Church House
St Peter’s Square
Hereford
HR1 2PG
Trustees
T Brooks
S Turner
R Paske
S Lind
A Morgan
D Langford (resigned 12.5.24)
J Litchfield
A Butterfill
A Dodwell (resigned 12.5.24)
J McCall
M Warner
P Harris
G Loynes
H E Dijkens (appointed 12.5.24)
S K Reynolds (appointed 12.5.24)
Independent Examiner
Mrs Lisa Weaver FCCA
Thorne Widgery Accountancy Ltd
Chartered Accountants
2 Wyevale Business Park
Kings Acre
Hereford
Herefordshire
HR4 7BS
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
West Malling
Kent
ME19 4JQ
Page 3
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Report of the Trustees
for the Year Ended 31 December 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.....................................................
A Morgan - Trustee
Page 4
Independent Examiner's Report to the Trustees of
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Independent examiner's report to the trustees of The Parochial Church Council of the Ecclesiastical Parish of St Peter with St Owen and St James, Hereford
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheParochialChurchCouncilof the
EcclesiasticalParishofStPeterwithStOwenandStJames,Hereford(theTrust)fortheyear ended
31 December 2024.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandin carrying
outmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommissionunderSection 145(5)(b)
of the Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.Ican confirm
thatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheAssociationofChartered Certified
Accountants, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnection with
the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs Lisa Weaver FCCA
The Association of Chartered Certified Accountants
Thorne Widgery Accountancy Ltd
Chartered Accountants
2 Wyevale Business Park
Kings Acre
Hereford
Herefordshire
HR4 7BS
Date: .............................................
Page 5
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Statement of Financial Activities
for the Year Ended 31 December 2024
|
|
|
|
|
|
31.12.24 |
31.12.23 |
|
|
Unrestricted |
Restricted |
Endowment |
|
Total |
Total |
|
|
funds |
funds |
fund |
|
funds |
funds |
|
Notes |
£ |
£ |
£ |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
|
|
|
|
|
FROM |
|
|
|
|
|
|
|
Donations and legacies |
|
184,968 |
47,174 |
|
- |
232,142 |
173,098 |
Charitable activities |
|
|
|
|
|
|
|
House lettings |
|
18,401 |
- |
|
- |
18,401 |
14,874 |
Investment income |
2 |
21,655 |
773 |
|
- |
22,428 |
15,194 |
Total |
|
225,024 |
47,947 |
|
- |
272,971 |
203,166 |
EXPENDITURE ON |
|
|
|
|
|
|
|
Raising funds |
3 |
559 |
1,231 |
|
- |
1,790 |
527 |
Charitable activities |
|
|
|
|
|
|
|
House lettings |
|
6,674 |
- |
|
- |
6,674 |
10,846 |
Other charitable activities |
|
141,900 |
234,030 |
|
- |
375,930 |
247,453 |
Total |
|
149,133 |
235,261 |
|
- |
384,394 |
258,826 |
Net gains on investments |
|
570 |
- |
385 |
|
955 |
2,709 |
NET INCOME/(EXPENDITURE) |
|
76,461 |
(187,314) |
385 |
|
(110,468) |
(52,951) |
Transfers between funds |
11 |
(80,846) |
80,846 |
|
- |
- |
- |
Net movement in funds |
|
(4,385) |
(106,468) |
385 |
|
(110,468) |
(52,951) |
RECONCILIATION OF FUNDS |
|
|
|
|
|
|
|
Total funds brought forward |
|
503,190 |
392,827 |
12,741 |
|
908,758 |
961,709 |
TOTAL FUNDS CARRIED |
|
|
|
|
|
|
|
FORWARD |
|
498,805 |
286,359 |
13,126 |
|
798,290 |
908,758 |
The notes form part of these financial statements
Page 6
The Parochial Church Council of the
St Owen and St James, Hereford
Ecclesiastical Parish of St Peter with
Balance Sheet
31 December 2024
Notes
FIXED ASSETS
Tangible assets
7
Investments
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
CREDITORS
Amounts falling due within one
year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
11
Unrestricted funds
Restricted funds
Endowment funds
TOTAL FUNDS |
Unrestricted
funds
£
420,000
24,427
444,427
12,093
88,284
100,377
(46,000)
54,377
498,804
498,804 |
Restricted
funds
£
-
-
-
-
286,360
286,360
-
286,360
286,360
286,360 |
Endowment
fund
£
-
13,126
13,126
-
-
-
-
-
13,126
13,126 |
31.12.24
Total
funds
£
420,000
37,553
457,553
12,093
374,644
386,737
(46,000)
340,737
798,290
798,290
498,804
286,360
13,126
798,290 |
31.12.23
Total
funds
£
420,000
36,598
456,598
22,523
435,454
457,977
(5,817)
452,160
908,758
908,758
503,190
392,827
12,741
908,758 |
|
|
|
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
A Morgan - Trustee
The notes form part of these financial statements
Page 7
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Notes to the Financial Statements
for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January 2019)',
FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland'andtheCharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthehistorical cost
convention,withtheexceptionofinvestmentswhichareincludedatmarketvalue,asmodifiedby the
revaluation of certain assets.
Going Concern
Thetrusteesassesswhethertheuseofgoingconcernisappropriatei.e.whetherthereareany material
uncertaintiesrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheabilityofthecompany to
continueasagoingconcern.Thetrusteesmakethisassessmentinrespectofaperiodofatleastoneyear from
thedateofauthorisationforissueofthefinancialstatementsandhaveconcludedthatthecompany has
adequateresourcestocontinueinoperationalexistencefortheforeseeablefutureandthereareno material
uncertaintiesaboutthecharity'sabilitytocontinueasagoingconcern,thustheycontinuetoadoptthe going
concern basis of accounting in preparing the financial statements.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothe funds,
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis
andhasbeenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is calculated to write off the cost of all fixed assets over their estimated useful lives.
The rates in use are as follows:
Freehold land Nil
Fixed asset investments
Investmentsarestatedatmarketvalueasatthebalancesheetdate.Thestatementoffinancial activities
includes the net gains and losses arising on revaluation and disposals throughout the year.
Debtors
Trade and other debtors are recognised at the settlement amount due.
Cash at Bank
Cashatbankandinhandincludescashandshorttermhighlyliquidinvestmentswithashortmaturityof three
months or less from the date of opening of the deposit or similar account.
Creditors
Creditorsandprovisionsarerecognisedwherethecharityhasapresentobligationresultingfromapast event
thatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountduetosettlethe obligation
canbemeasuredorestimatedreliably.Creditorsandprovisionsarenormallyrecognisedattheir settlement
amount.
continued...
Page 8
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES - continued
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesonastraightline basis
over the period of the lease.
Pension costs and other post-retirement benefits
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity's pension
scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
3.
INVESTMENT INCOME |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
Deposit account interest |
22,428 |
15,194 |
RAISING FUNDS |
|
|
Investment management costs |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
Cost of fundraising activities |
1,790 |
527 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2024norforthe year
ended 31 December 2023.
Trustees' expenses
During the year, expenses of £4,361 (2023: £5,040) were reimbursed to 8 (2023: 11) individuals.
continued...
Page 9
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
|
|
31.12.24 |
|
31.12.23 |
Staff |
|
|
5 |
|
5 |
No employees received emoluments in excess of £60,000. |
|
|
|
|
|
COMPARATIVES FOR THE STATEMENT OF |
FINANCIAL ACTIVITIES |
|
|
|
|
|
Unrestricted |
Restricted |
Endowment |
|
Total |
|
funds |
funds |
fund |
|
funds |
|
£ |
£ |
£ |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
|
|
Donations and legacies |
122,519 |
50,579 |
|
- |
173,098 |
Charitable activities |
|
|
|
|
|
House lettings |
14,874 |
- |
|
- |
14,874 |
Investment income |
11,383 |
3,811 |
|
- |
15,194 |
Total |
148,776 |
54,390 |
|
- |
203,166 |
EXPENDITURE ON |
|
|
|
|
|
Raising funds |
527 |
- |
|
- |
527 |
Charitable activities |
|
|
|
|
|
House lettings |
8,325 |
2,521 |
|
- |
10,846 |
Other charitable activities |
139,421 |
108,032 |
|
- |
247,453 |
Total |
148,273 |
110,553 |
|
- |
258,826 |
Net gains on investments |
2,035 |
- |
674 |
|
2,709 |
NET INCOME/(EXPENDITURE) |
2,538 |
(56,163) |
674 |
|
(52,951) |
Transfers between funds |
(240) |
240 |
|
- |
- |
Net movement in funds |
2,298 |
(55,923) |
674 |
|
(52,951) |
RECONCILIATION OF FUNDS |
|
|
|
|
|
Total funds brought forward |
500,892 |
448,750 |
12,067 |
|
961,709 |
TOTAL FUNDS CARRIED FORWARD |
503,190 |
392,827 |
12,741 |
|
908,758 |
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 10
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
7. TANGIBLE FIXED ASSETS
COST
At 1 January 2024 and 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023 |
|
|
Freehold
property
£
420,000
420,000
420,000 |
|
31.12.2024 |
31.12.2023 |
|
|
£ |
£ |
|
Church House |
340,000 |
340,000 |
|
Close House |
80,000 |
80,000 |
|
|
|
|
|
|
420,000 |
420,000 |
|
|
|
|
|
|
|
|
|
Nodepreciationhasbeenchargedonthepropertiesastheirusefullivesareconsideredbythetrusteesto be
well in excess of 100 years and that any depreciation charge would be immaterial
CloseHousewasin2006at£80,000byWatkinsandThomasLLP,EstateAgents.Thebuildingisleasedin its
entiretybyacharityworkingwithyoungpeople.Thetrustees'regardtheactivityofthecharityin keeping
their our objectives.
ChurchHousewasalsovaluedin2006at£340,000byWatkinsandThomasLLP,EstateAgents.ChurchHouse is
thechurchhallandhousestheparishoffices.TheupstairshallisrentedbytheUkraineFreedomCompany for
storageofdonateditemsawaitingtransporttoUkraineandtheAssociationofUkrainiansinGreatBritain rents
aroomasanoffice.Thetrustees'regardlettingstotheUkraineFreedomCompanyandtheAssociation of
Ukrainians in Great Britain as activities in keeping with our objectives.
The Trustees are not aware of any material changes in values of the properties.
8. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Listed |
|
investments |
|
£ |
MARKET VALUE |
|
At 1 January 2024 |
36,598 |
Revaluations |
955 |
At 31 December 2024 |
37,553 |
NET BOOK VALUE |
|
At 31 December 2024 |
37,553 |
At 31 December 2023 |
36,598 |
There were no investment assets outside the UK.
continued...
Page 11
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
8. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31 December 2024 is represented by:
|
|
|
Listed |
|
|
|
investments |
|
|
|
£ |
|
Valuation in 2024 |
|
37,553 |
9. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
31.12.24 |
31.12.23 |
|
|
£ |
£ |
|
Trade debtors |
1,132 |
1,545 |
|
Tax |
6,066 |
8,256 |
|
Prepayments and accrued income |
4,895 |
12,722 |
|
|
12,093 |
22,523 |
10. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
31.12.24 |
31.12.23 |
|
|
£ |
£ |
|
Trade creditors |
43,042 |
3,027 |
|
Other creditors |
2,958 |
2,790 |
|
|
46,000 |
5,817 |
continued...
Page 12
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
11. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Church House and Close House Lettings
Restricted funds
St Peter's Building Fund
St James Building Fund
LFG Brown deceased Trust
Church Wardens Fund
Ukraine Project
Ministry Development Fund
Rwanda Fund
Youthworker Fund
Sundry Other Funds
Gift Day special collection
Homelessness Forum
Church House Building Fund
Endowment funds
Expendable Endowment Fund
TOTAL FUNDS |
Net
movement
At 1.1.24
in funds
£
£
479,900
64,732
23,290
11,728
503,190
76,460
5,051
(6,129)
134,917
(92,757)
217,920
-
1,077
872
10,939
1,672
13,843
(47,194)
381
116
841
(27,023)
1,348
(16,755)
8,791
-
240
-
(2,521)
(115)
392,827
(187,313)
12,741
385
908,758
(110,468) |
Transfers
between
At
funds
31.12.24
£
£
(80,846)
463,786
-
35,018
(80,846)
498,804
1,078
-
-
42,160
-
217,920
-
1,949
(490)
12,121
33,411
60
-
497
26,182
-
18,029
2,622
-
8,791
-
240
2,636
-
80,846
286,360
-
13,126
-
798,290 |
Transfers
between
At
funds
31.12.24
£
£
(80,846)
463,786
-
35,018
(80,846)
498,804
1,078
-
-
42,160
-
217,920
-
1,949
(490)
12,121
33,411
60
-
497
26,182
-
18,029
2,622
-
8,791
-
240
2,636
-
80,846
286,360
-
13,126
-
798,290 |
|
|
|
498,804
-
42,160
217,920
1,949
12,121
60
497
-
2,622
8,791
240
- |
|
|
|
286,360
13,126 |
|
|
|
798,290 |
continued...
Page 13
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Church House and Close House Lettings
Restricted funds
St Peter's Building Fund
St James Building Fund
Church Wardens Fund
Ukraine Project
Ministry Development Fund
Rwanda Fund
Youthworker Fund
Sundry Other Funds
Church House Building Fund
Endowment funds
Expendable Endowment Fund
TOTAL FUNDS |
Incoming
Resources
resources
expended
£
£
206,622
(142,460)
18,402
(6,674)
225,024
(149,134)
329
(6,458)
188
(92,945)
872
-
40,598
(38,926)
1,991
(49,185)
1,611
(1,495)
1,929
(28,952)
429
(17,184)
-
(115)
47,947
(235,260)
-
-
272,971
(384,394) |
Gains and
Movement
losses
in funds
£
£
570
64,732
-
11,728
570
76,460
-
(6,129)
-
(92,757)
-
872
-
1,672
-
(47,194)
-
116
-
(27,023)
-
(16,755)
-
(115)
-
(187,313)
385
385
955
(110,468) |
|
|
|
continued...
Page 14
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Church House and Close House Lettings
Restricted funds
St Peter's Building Fund
St James Building Fund
LFG Brown deceased Trust
Church Wardens Fund
Ukraine Project
Ministry Development Fund
Rwanda Fund
Youthworker Fund
Sundry Other Funds
Gift Day special collection
Homelessness Forum
Church House Building Fund
Endowment funds
Expendable Endowment Fund
TOTAL FUNDS |
Net
movement
At 1.1.23
in funds
£
£
484,150
(4,010)
16,742
6,548
500,892
2,538
13,466
(8,415)
136,817
(1,900)
217,920
-
1,006
71
15,777
(5,164)
29,623
(15,780)
186
(131)
39,124
(38,283)
(5,169)
6,517
-
9,443
-
-
-
(2,521)
448,750
(56,163)
12,067
674
961,709
(52,951) |
Transfers
between
At
funds
31.12.23
£
£
(240)
479,900
-
23,290
(240)
503,190
-
5,051
-
134,917
-
217,920
-
1,077
326
10,939
-
13,843
326
381
-
841
-
1,348
(652)
8,791
240
240
-
(2,521)
240
392,827
-
12,741
-
908,758 |
|
|
|
continued...
Page 15
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Church House and Close House Lettings
Restricted funds
St Peter's Building Fund
St James Building Fund
Church Wardens Fund
Ukraine Project
Ministry Development Fund
Rwanda Fund
Youthworker Fund
Sundry Other Funds
Gift Day special collection
Church House Building Fund
Endowment funds
Expendable Endowment Fund
TOTAL FUNDS |
Incoming
Resources
resources
expended
£
£
133,903
(139,948)
14,873
(8,325)
148,776
(148,273)
336
(8,751)
3,283
(5,183)
321
(250)
27,019
(32,183)
1,550
(17,330)
1,140
(1,271)
817
(39,100)
10,155
(3,638)
9,769
(326)
-
(2,521)
54,390
(110,553)
-
-
203,166
(258,826) |
Gains and
Movement
losses
in funds
£
£
2,035
(4,010)
-
6,548
2,035
2,538
-
(8,415)
-
(1,900)
-
71
-
(5,164)
-
(15,780)
-
(131)
-
(38,283)
-
6,517
-
9,443
-
(2,521)
-
(56,163)
674
674
2,709
(52,951) |
|
|
|
12. RELATED PARTY DISCLOSURES
During the year, donations of £28,733 (2023: £26,164) were made to the charity from trustee's.
Page 16
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Detailed Statement of Financial Activities for the Year Ended 31 December 2024
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024 |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Envelopes and Gift Aid |
6,749 |
7,609 |
Loose collections at all servi ces |
6,837 |
7,121 |
Gift aid |
24,986 |
23,195 |
Donations, appeals etc |
144,961 |
108,595 |
Grants |
41,668 |
14,419 |
Other income |
6,941 |
12,159 |
|
232,142 |
173,098 |
Investment income |
|
|
Deposit account interest |
22,428 |
15,194 |
Charitable activities |
|
|
Letting income |
18,401 |
14,874 |
Total incoming resources |
272,971 |
203,166 |
EXPENDITURE |
|
|
Investment management costs |
|
|
Cost of fundraising activities |
1,790 |
527 |
Charitable activities |
|
|
Wages |
81,299 |
94,944 |
Social security |
1,754 |
- |
Pensions |
2,346 |
3,046 |
Training and welfare |
946 |
614 |
Telephone |
2,440 |
2,085 |
Postage |
631 |
299 |
Stationery |
1,883 |
1,183 |
Subscriptions |
45 |
332 |
Equipment expenses |
2,054 |
1,746 |
Office running costs |
4,833 |
4,263 |
Bank charges |
188 |
137 |
Grants to institutions |
2,795 |
5,647 |
|
101,214 |
114,296 |
Support costs |
|
|
Management |
|
|
Ministry: Diocesan Parish Share |
70,000 |
67,400 |
Clergy expenses |
4,504 |
4,008 |
Church running |
15,482 |
13,254 |
Church maintenance |
110,115 |
22,111 |
Church insurance |
12,722 |
13,039 |
Carried forward |
212,823 |
119,812 |
This page does not form part of the statutory financial statements
Page 17
The Parochial Church Council of the
Ecclesiastical Parish of St Peter with
St Owen and St James, Hereford
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024 |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
Management |
|
|
Brought forward |
212,823 |
119,812 |
Youth and other work |
5,578 |
5,120 |
Church House and Close House expenses |
6,674 |
10,846 |
Organist and music |
910 |
1,059 |
Other resticted costs |
52,447 |
4,376 |
|
278,432 |
141,213 |
Governance costs |
|
|
Auditors' remuneration |
2,958 |
2,790 |
Total resources expended |
384,394 |
258,826 |
Net expenditure |
(111,423) |
(55,660) |
This page does not form part of the statutory financial statements
Page 18