``` 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` |||`Page`|| |---|---|---|---| |`Report of the Trustees`|`1`|`to`|`4`| |`Independent Examiner's Report`||`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 ```