REGISTERED CHARITY NUMBER: 1133775 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR BASINGSTOKE PAROCHIAL CHURCH COUNCIL
BASINGSTOKE PAROCHIAL CHURCH COUNCIL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Tru8te88 Roport of the Independent Audltorn 8 to 10 Stat•m•nt of Flnanclal Actlvltles Balance Sh••t 12 Cash Flow Statement 13 Notes to the Cash Flow Statement 14 Not88 to the Flnanclal Statements 15 to 25
BASINGSTOKE PAROCHIAL CHURCH COUNCIL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charitse5: statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effective 1 January 2019). OBJECTIVES AND ACTIVITIES Background Basingstoke PCC has the responsibility under the Parochial Church Council (Powers) Measure 1956 of co-operating with the Rector and other licensed staff in promoting the whole mission of the Church - pastoral, evangelistic, social and ecumenical - in the Parish. The PCC has the responsibility for the churches and associated buildings at All Saints,, Christ the King, St. Michael's and St. Peter's. Membership Members of the PCC are either ex-officio, elected at the APCM, or GO-OPted, all in accordance wth the Scheme for the Election of the Parochial Church Council approved in 1995 under the Church Representstion Rules. There may be up to four elected members from each Team church. Publlc beneflt The trustees confimi that they have referred to the guidance contained in the Charlty Commission's general guidance on public benefrt when reviewing the charity'5 aims and objectives and in planning future activities. The trustees refer to public benefit throughout this report. Page 1
BASINGSTOKE PAROCHIAL CHURCH COUNCIL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AND PERFORMANCE Every Yek at our Sunday services, since late 2024. we have been able to share a video story of someone from our church community who has encountered the presence of God in their life. This is both an encouragement to each of us that God is at work, but also a testament to all that has gone on through 2024 a5 $0 many people give, pray and serve on team5 to make evewing possible. This annual report is both a celebration of what God has done and a huge thank you to each and every person who has played even a small part in what we have seen happen. Bulldlng foundations This past year ha5 been one of building both physical and metaphorical foundations for the next phase of life as a church here in Basingstoke. Through the Autumn of 2024 we finally were able, after years of planning, to begin work on the reordering at St Michael's. This project will see toilets and hospitality space added, as well as new lighting, seating and sound system. All of this will allow us to maximise this building for mission to our town. The work is due to be complete in the summer of 2025 and has been made possible in large part through generous funding from the national church. We have also taken time as a leadership and PCC to pause and tske stock of all that has happened since the relaunch as a resource church in 2022. We have seen significant gr0h in attendance and huge changes to govemance and staff team. Looking to other similar projects who have walked this path ahead of us, we have been inspired to review how we operate and our missions aim5 to ensure that gr0h and missional impact contsnues and is sustainable for the future. We also wanted to explore how we can play our part in resourcing the wder church. As a result of this work through most of 2024, the PCC adopted in December our new five year vision and strategy. We now pray and work to See all that we hope to see come to fruition over the next five years. Our vision is to see this generation come fully alive in Jesus by the power of the Holy Spirit. Recognising that this is largely Ihe work of God, our mission as a church is to 'Make space and spaces for people to encounter the presence of God., Rlslng Generations We have been very encouraged to see the groW(h of our youth and children's minlstry In 2024. As we have travelled through the year we have regularly seen our facilities and our teams stretched to the limit on Sunday by the increasing number of young people at all of our services, and we are continuing to work to ease the pressure there. But as some have said. It is a niGe problem to have, and shows that our mission is on track. We have in this last term seen 30 young people try Alpha, which is a hugely encouraging sign of health and growth in the rising generations. Our Thursday night youth has also been hugely exciting lo see, a5 each term our teenagers invite friends to the Youth Social nights, and that results in growth from those not previously in church. Also in the rising generations, we have seen significant gr0h in our schools ministry this past year. Every month we are now leading worship in 9 schools in our parish. The work we have done was also noted in the SIAMS report for our local CofE school lch said.. 'The school has developed a close relationship with the Basingstok& Church. Church youth workers are regular visitors to the school to lead collective worship. Pupils particularly look forward to their visits and describe their worship as 'practical' and say that they 'often dance along,. "The school leads services in the church for festivals such as Christmas, Easter and the Year 6 leavers. Parents and governors look forward to worshipping alongside staff and pupils at these services. St John's effectiveness as a Church school is strengthened by its close relationship with the local church." Well done to the RG team and Joe Pavey for all the work they are doing. Page 2
BASINGSTOKE PAROCHIAL CHURCH COUNCIL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Sundays Two of our SeiceS have been forced to combine in this past year, and I give thanks in this report to the flexibility and grace of everyone involved as we accommodate our building work. Also due to capacity, we have launched, from our 11am service, a 6pm service. We intend to continue that once we retum to St Michael'5. We have trialled new services on our estate church locations, some of this has worked and some hasn't. We however are encouraged that the team5 have space to ty and learn, to develop and explore what ministry to the current generation looks like. Café church continue5 to thrive and grow as a leading example of a fresh expression of worship wth a brilliant and hard working team of volunteers leading the Ole thing. Thank you to each of you for another amazing yearl Outreach and other activitles Every term we have run the evangelistic course Alpha. We have also run the marriage course, the bereavement course and invested in individual discipleship through small groups, which have continued to grow through 2024. In the auiumn we18unched 8 new after school café which is already attracting up to 80 people every week, This is In addition to our Tots groups at South Ham and St Michael's which have seen hundreds In thls past year. Midweek so many Indivldual actlvlties, services and ministry moments happen. Thank you to each person who 15 leading those, and we look forward in this coming year to seeing many more established and more people step into leadership roles. In the summer of 2024 we took nearly 140 people from across our congregations to Focus, which is our church family weekend away. This and other community moments such as the intemational supper at the 9..30 and the summer picnic at the Eleven were pivotal in deepening roots of church community together. Staff Team We are hugely blessed to have a paid staff team to support the mission and ministry of the church. This year has seen some changes on the team as some go on to other employment and career opportunities, and some leave for family reasons. One of the biggest challenges in church life is the small pool of people to recruit from and so we have a few vacancies on team which we are currently working hard to fill. We took the whole staff to Summit. which is an HTB NeOrk event, which was a hugely encouraging time for each of them as they met with hundreds of people in similar roles at churches across the country. We continue to support the staff wth weekly staff worship and dedicated line management and HR support. Page 3
BASINGSTOKE PAROCHIAL CHURCH COUNCIL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Financial Performance The Statement of Financial Activities reports a net deficit of £34,27212023.' £83,175). l.Income has increased especially from grant funding including one-off £64,209 received in 2024, relating to 2023 staff salaries. Expenditure has continued to increase wth the implementation of the resource church project. This has resulted in a deficit of £39,861 (2023.. £100,886) when excluding the net gains and losses on investments and fixed assets. Flnanclal Posltlon The Balance Sheet reports net assets of £3,944,479 (2023.. £3,978,751). The reduction in net assets is primarily due to the decrease in current assets. Reslricted funds comprise £59,052 (2023.. £25,313). Reserves Pollcy A resenies policy was approved al the March 2023 PCC meeting, to maintain £108,000 in central funds, being three months of budgeted expenditure. Rlsk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriat8 controls are in place to provide reasonable assurance against fraud and error, Pollcy on Rlsk5 The PCC has a list of potential risks which forms part of its monitoring of the delivery of the 5-year plan. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity 18 controlled by its governing document in line wth the Parochial Church Councils (Powers) Measure 1956 as amended. Parochial Church Councils are bodies corporate having perpetual succession. Page 4
BASINGSTOKE PAROCHIAL CHURCH COUNCIL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Safeguarding statement The PCC ha5 complied with its duty under the Safeguarding and Clergy Discipline Measure to have due regard for the House of Bishops, guidance on safeguarding children and vulnerable adults. Electoral Roll The number of members on the Parish Electoral Roll was given at the APCM in 2024 as 409 (2023.. 361)- Standlng Commlttee The Standing Committee as set out In the 1995 Scheme comprises the Rector, incumbent status assistsnt dergy, Churchwarden5 and two elected members of the PCC who would normally be the PCC Treasurer and PCC Secretary. In 2024 the two elected members were Stephen Leach (PCC Secretary) along wilh Keith Bastin {Vice-Chairl until 22101124 and then John Davies Ivice-chairl from 05102124. Elaine Coombs ITreasurerl was co-opted frcm her appointment on 20105124. PCC Buslness Revlew The PCC met on 8 occasions in 2024 as well as for a short meeting after the APCM to appoint officers. The average attendance at the main meetings was 26. The PCC received regular reports from its working group5, including those dealing with the building works at st. Michael's 8nd the proposed changes at All Saints,. A working group looking at the Parish's inclusivity statement reported in May and the statement was adopted. The PCC received a report on the work of the Rising Generations team at Its May meeting. Safeguarding was on every agenda with a formal report being received in February. Rachael Higson was appointed as the new Parish Safeguarding Officer in September. The PCC received regular rnanagement reports on it5 finances throughout 2024. The agreed 2024 budget included a deficit of £115,OOD but it became apparent towards the end of the year that increases in income would mean that the deficit would be lower, possibly halved. Outside the regular expenditure, the PCC agreed to spend £10,000 on making the Rectory garden safe and £5,000 on a study to look at the long term possibilities for developing the PCC'S properties. Both of these were funded from the PCC'S reseeS from the Pentire property sale. Followng its policy of giving loo of its regular giving to mission, the PCC gave £10,000 to the Beacon Church, Blackpool, £5,000 to The Basingstoke Besom and £5,000 to Basingstoke Street Pastors. The stepping down of the contract Financial Controller delayed the 2023 audil but this was finally completed in September. The proposed Pastoral Scheme for combining the Parishes of Basingstoke and Popley with Limes Park and Rooksdown was discussed in detsil at meetings early in the year with the most debated detail being the number of Churchwardens for the new combined parish. Formal resolutions under charity and church law were passed In July. However, the PLL heard In November that the Licheme had been delayed. Through the year the PCC Icoked at its future governance structures. Thi5 included a review of the skills that would be needed a5 the church grew. In November and December, the PCC discussed a 5 year strategy for the Parish and a detailed budget for 2025. At the final meeting in 2024, the PCC agreed the strategy and 2025 budget wth a deficit of £240,000 to be funded from reserves. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 1133775 Page 5
BASINGSTOKE PAROCHIAL CHURCH COUNCIL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Prlnclpal address St Michael's Church Office Church Square Basingstoke Hampshire RG217QW Trustees Membershlp Members of the PCC are either ex-officio, elected at the APCM, or co-opted, all in accordance )JVith the Scheme for the Election of the Parachial Church Council approved in 1995 under the Church Representation Rules. There may be up to four elected member5 from each Church. The PCC Members who served at any time in 2024 were: Ex-offlclo: Clergy Revd John Hudson, Rector Revd PJ Brombley, Associate Minister Revd Libby Etherington, Assoclate Mlnister - from 22105124 Revd Ed Haycock, Curate Revd Nicola Ford, Curate Revd Barbara Irving, Curate - from 01106124 Churchwardens Su2anne Cooper - until 31107124 Mike Edens Ghislalne Fletcher Paul Lane Andrew Mccormick Samuel Mensah-stephens Ellie Woolf Jason York - until 31107124 Deanery Synod Castor Bending John Davies- (Diocesan Signed) Oliver Key stephen Leach. Ellie Woolf Stephen Leach was also an emplcyee of the PCC during 2024 as a part-time Bookkeeper. Elected Membeys All Salnts David Hubbard - until 22104124 Bethany Neal Margaret Smith - from 22104124 Sandra Welch - until 22104124 Chrlst the Klng Nigel Drury Shelagh Kavanagh St Mlchael's Keilh Bastin Sue Irvine Pauline Mayer Fehintola Otudeko - from 22104124 Mark Vasanth - until 22104124 St Peterfs Jason Cross- from 22104124 Sathya Pradeep Johnson Andrew Stead Co-opted Boran Djokic- from 22104124 Rachael Higson Celia Saunders - from 22104124 Page 6
BASINGSTOKE PAROCHIAL CHURCH COUNCIL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS Auditors Morris Crocker Limited Chartered Accountants statutory Auditors Station House North Street Havant Hampshire P091QU STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounts"ng Stsndards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulalions 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that perlod. In preparlng those financial statements, the trustees are required to select suitsble accounting policies and then apply them consistenlly., observe the methods and principles in the Charity SORP-, make judgements and estimates that are reasonable and prudent., state whether applicable aGGounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and lo enable 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 trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevents'on and detection of frau and other irregularities. Approved y order of the board of trustees on and signed on its behalf by: vd J Hudson- Trustee Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BASINGSTOKE PAROCHIAL CHURCH COUNCIL Opinion We have audited the financial statements of Basingstoke Parochial Church Council (the 'charitY) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitvs affairs as at 31 December 2024 and of its incoming resources and application of resources, for Ihe year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Charities Act 2011, Basls lor oplnlon We conducted our audit in accordance with Intemalional Standards on Auditing (UK> IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements Ihat are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirernents. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Gharit¥s ability to continue as going concern for a period of at least twelve months from when the financial statements are authorised for 155ue. Our responsibilities and the responsibilities of the trustees )Mth respect to going concern are described in the relevant sections of this report. Other Infomatlon The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other inforrnatlon and, except lo the extent otheMse explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial slatements, our responsibility is to read the other information and, in doing so. consider whether the other information is materially incons1Stent with the financial statements or our knowledge obtained in the audit or otherwse appears to be materially misstated. If we identify such material inconsistencies cr apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselve5. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matter5 on which we are requlred to report by exception We have nothing to report in respect of the followng matters where the Charities {Accoun15 and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the informab'on given in the Report of the Trustees is inconsistent in any material respect wth the financial statements., or sufficient accounting records have not been kept.. or the financial statements are not in agreement wth the accounting records and returns., or we have not received all the information and explanations we require for our audit. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BASINGSTOKE PAROCHIAL CHURCH COUNCIL Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial statefflents which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparats'on of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity's abilty to continue as a going concern, disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic altemative but to do so. Our responslbllities for the audit of the financlal statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance wth ISAS (UK) will always detect a material misstatement en it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these flnancial statements. The extent to which our procedures are capable of detecting irregularities, includlng fraud is detsiled below.. From discussion wth management and those charged with governance information about the entity is documented to assess the activity wlhin the organisation. We discuss management's assessment of risk in respect of irregularities, fraud and golng concern. Based on these discussions and our own assessments we determined that the key risk areas were income recognition in respect of cut off Issues and management override concerning the size of the organisation. We sel financial statement materiality level based on the level of income. As a not for profit organisation raising income is its primary focus lch is why income was used to determine the level of materiality. Our overall assessment of risk was used to determine performance materiality at an appropriate level. Substantive audit tests were designed after assessing and performlng walkthrough tests. The walkthrough tesling confirmed documented systems which have been designed to act as a preventative measure against fraud and error which appear to be operating as documented. Substantive testing tested a sample of the population, representative of the population, to identify errors. The testing did not identity any material misstatements in areas tested. Audit substantive tests concluded no material errors over the key risk areas of income recognition and management override. The audit considers the organisation is not exposed to material risk of error as a result of assessing laws and regulations that are appropriate to the organisation. Management assessed there is no going concern risk. The audit undertook a review of budgets, management accounts and the review of board minutes and came to the same conclusion as A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at WW4V.frc.org.uklauditorsresponsibilities. This description fomis part of our Report of the Independent Auditors. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF 8ASINGSTOKE PAROCHIAL CHURCH COUNCIL Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitys trustees those matters we are required to state to them in an auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the chantys trustees a5 a body, for our audit work, for this report. or for the opinions we have fomied. Morrts Crocker Limited Chartered Accountants Statutory Auditors station House North Street Havant Hampshire P09 1QU Date: .... Page 10
BASINGSTOKE PAROCHIAL CHURCH COUNCIL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 220.338 6,619 226,957 207,270 Charitable actlvltles Church acts-vities 88,028 299,724 387,752 270,782 other trading activitie5 Investment income 80,961 58,392 196 538 81,157 58,930 105,598 43,633 Total 447,719 307,077 754,796 627,283 EXPENDITURE ON Raising funds 860 860 1,446 Charitable actlvltles Church activities 518,250 275,547 793,797 726,723 Total 519,110 275,547 794,657 728,189 Net gains on investments 5,154 435 5,589 19,511 NET INCOMEI(EXPENDITUREI Transfers between funds (66,237) (1,775) 31,965 1,775 (34,2721 (81,375) 20 Net movement In funds (68,012) 33,740 (34,272) (81,375) RECONCILIATION OF FUNDS Total funds brought fOard 3,953,438 25,313 3,978,751 4,060,126 TOTAL FUNDS CARRIED FORWARD 3.885,426 59,053 3.944,479 3,978,751 The notes form part of these financial statements Page11
BASINGSTOKE PAROCHIAL CHURCH COUNCIL BALANCE SHEET 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Tangible assets Investments Investments Investment property 13 2,841,198 2,803,659 14 15 240,100 325,000 234.512 325,000 3,406,298 3,363,171 CURRENT ASSETS Debtors Cash at bank 16 68,647 552,101 174.993 642,155 820,748 817,148 CREDITORS Amounts falling due wthin one year 17 {82,567) 1201,568) NET CURRENT ASSETS 538,181 815,580 TOTAL ASSETS LESS CURRENT LIABILITIES 3,944,479 3,978,751 NET ASSErs 3,944,479 3,978,751 FUNDS Unrestricted funds Restricted funds 20 3,885,427 59,052 3,953,438 25,313 TOTAL FUNDS 3,944,479 3,978,751 The financial statements were approved by the Board of Trustees and authorised for Issue on and were signed on its behalf by.. /Hudson - Trustee The notes fomi part of these financial statements Page 12
BASINGSTOKE PAROCHIAL CHURCH COUNCIL CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations {55,597) {73,279) Net cash used in operating activities {55,597) (73,279) Cash flows from Investlng activitles Purchase of tangible fixed assets Interest received (58,165) 23,708 1135,180) 9,029 Net cash used in investing activities (34,457) 1126,151) Change In cash and cash equlvalents In the reportlng perlod Cash and cash equlvalents at the beglnnlng of the reportlng perfod (90,054) {199,430) 642,155 841,585 Cash and cash equlvalents at the end of the reportlng perlod 552,101 642,155 The notes fomi part of these financial statements Page13
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net expenditure for the reportlng period las per the Statement of Flnanclal Actlvltlesl Adjustments for: Depreciation charges Gain on investments Interest received Decreasel(increa5e) in debtors (Decreasellincrease in creditors 134.272) {81,375) 20,626 (5,588) 123,708) 106,346 1119,001) 13,633 {19,511) (9,029) 1116,577) 139,580 Net cash used in operatlons 155,597) {73,279) ANALYSIS OF CHANGES IN NET FUNDS At1.1.24 Cash flow At 31.12.24 Net cash Cash at bank 642,155 (90,054> 552,101 642,155 (90,054> 552,101 Total 642,155 (90,054) 552.101 The notes form part of these financial statements Page 14
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the chartiy, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convents-on, with the exception of investments which are included at market value, as modified by the revaluation of certain a55ets. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to aGtivities on a ba515 con51Stent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings Equipment 33 % on cost, 200h on cost and 1 OQ/o on cost 33¥0 on cost, 20'h on cost and 1 OD/0 on cost Freehold property is not being depreciated on the basis that it would be immaterial due to all properties having high residual values. The carrying values of tangible fixed assets are reviewed for impairment in accordance with the requirements of FRS 102. Investment property The value of investment properties at the balance sheet date is reviewed annually by the Trustees. Any surplus or deficit in the value of the properties is refiected in the Statement of Financial Activrties. Taxatlon The charity is exempt from tsx on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds 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. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Financial instruments The charity only enters into basic financial in5trument5 transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and investments in stocks and shares. The measurement basis used for these instruments is detailed below. Page15 continued...
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEM8ER 2024 ACCOUNTING POLICIES - continued Financial instrument8 Debtors and cash at bank Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash held on deposit or in a current account. Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligation resulting from past event that wll 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 normally recognised at their Settlement amount after allowing for any trade discounts due. Investments Investments are a form of basic financial instrument and are initially recogni5ed at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. DONATIONS AND LEGACIES 2024 2023 Planned givlng Donations and Legacies Gift aid Collections at services 113,613 74.367 25,461 13,516 128,920 67,187 6,330 4,833 226,957 207,270 OTHER TRADING ACTIVITIES 2024 2023 Church events Church hall lettings 14.791 66.366 15,475 90,123 81,157 105,598 INVESTMENT INCOME 2024 2023 Rents received Dividend income Deposit account interest 28,840 6,382 23,708 28,380 8,224 9,029 58,930 43,633 All investment income is derived from assets held in the United Kingéom. Page 16 continued..
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Fees for weddings and funerals Grants Church activities Church activities 21,582 366,170 15,808 254,974 387,752 270,782 RAISING FUNDS Investment management costs 2024 2023 Portfolio management 860 1.448 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 8) Support costs (see note 91 Totals Church activities 762,306 31,491 793,797 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Church running expenses Hall running costs Church repairs & rnaintenance Mission giving and donations Hall repairs & maintenance Bad debts Depreciation Parish share 259,286 149,948 80.766 22,289 32,704 90,128 929 20,627 105,629 218,960 179,329 108,058 30,465 10,922 12,982 1,936 13,633 107,282 762,306 681,567 SUPPORT COSTS Govemance costs Finance Totals Church actrvities 1,647 29,844 31.491 Page 17 continued..-
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT COSTS- continued Support costs, induded in the above, are as follows: Flnance 2024 Church activities 2023 Total activities Bank charges 1,647 1,835 Governance costs 2024 Church activities 2023 Total activities Auditors, remuneration Legal and professional fees 7,580 22,264 6,137 37,184 29,844 43,321 10. TRUSTEES. REMUNERATION AND BENEFITS During the year 1 trustees (2023.. 1 trustee) received remuneration or other benefits totalling £19,921 (2023. £16,589). Trustees. expenses During the year 17 trustees (2023: no trustees) were reimbursed out of pocket expenses totalling £3,511 (2023: £nil}. STAFF COSTS 2024 2023 Salarles and wages Pension costs 254,311 4,975 213,883 3,077 259,286 216,960 The key management personel of the charity campri5e of the Operational manager and the Finance manager. The total employee benefits, comprising salary, pension contributions and Employers Natlonal Insurance contributs'ons ot the key management personnel ot the chanty were LSU,1116 {2023 .'£25,2151 Average monthly number of employees 13 13 Page 18 continued...
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 204,865 2,405 207,270 Charitable activities Church activities 152,506 118,276 270,782 Other trading activities Investment income 105,598 43,369 105,598 43,633 264 Totsl 506,338 120,945 627,283 EXPENDITURE ON Raising funds 1,446 1,446 Charltable actlvltles Church activities 567,098 159,625 726,723 Total 568,544 159,625 728,169 Net gains on investments 19,511 19,511 NET INCOMEIIEXPENDITUREI Transfers between fund8 (42,895) {34,492) (38,680) 34,492 181,375) Net movement in funds {77,187) (4,188) 181,375) RECONCILIATION OF FUNDS Total funds brought forward 4,030,623 29,503 4,060,126 TOTAL FUNDS CARRIED FORWARD 3,953,436 25,315 3,978,751 Page 19 continued...
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 13. TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Equipment Totals COST At 1 January 2024 Additions Disposa15 2,633,040 47.310 25,810 182,749 32,355 14,200) 2,843,099 58,165 (4,200) At 31 December 2024 2,633,040 73,120 190,904 2,897,064 DEPRECIATION At 1 January 2024 Charge for year Eliminated on disposal 11,814 5,912 27,626 14,714 (4,200) 39,440 20,626 14,200) At 31 December 2024 17,726 38,140 55,866 NET BOOK VALUE At 31 December 2024 2,633,040 55,394 152,764 2,841,198 At 31 December 2023 2,633,040 35,496 135,123 2,803.859 14. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 January 2024 Revaluatsons 234,512 5,588 At 31 December 2024 240,100 NET BOOK VALUE At 31 December 2024 240,100 At 31 December 2023 234,512 There were no investment assets outside the UK. 15. INVESTMENT PROPERTY FAIR VALUE At 1 January 2024 and 31 December 2024 325,000 NET BOOK VALUE At 31 December 2024 325,000 At 31 December 2023 325.000 As at 31 December 2024 One propety (2023.. One propety) is held on the basis to eam rental income. Page 20 continued.-.
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS- Gontinued FOR THE YEAR ENDED 31 DECEMBER 2024 15. INVESTMENT PROPERTY - contlnued An external valuation of the freehold property was carried out by Curchod & Co, Chartered Surveyors & Commercial Property Agents on 14 March 2023 and a revaluation adjustment has been recognised for the year ended 31 Decembei 2022. The Trustees have reviewed for 31 December 2024 and the value of the properties remains the same. This valuats'on was made in accordance wth the SORP and the RICS Appraisal and Valuation Manual. 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors 37,186 31,461 108,582 66,411 68,647 174,993 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors other credltors 7.682 74.885 28.955 172,613 82,567 201,568 Included in the balance of other creditors is an amount of £57,33312023.' £99,328) which relates to deferred income. This deferred income has been deferred as a result of money being received in advan in order to cover various staff costs. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year 1,000 19. ANALYSIS OF NET ASSETS BETWEEN FUND5 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Fixed assets Investments Current assets Current liabilities 2,841,198 565.100 561,696 (82,567) 2,841,198 565.100 620,748 (82,567) 2,803,659 559,512 817,148 1201,568) 59,052 3,885,427 59,052 3,944.479 3,978,751 Page21 continued...
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 20. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.12.24 At 1.1.24 Unrestricted funds General fund Building fund Repair (Designated) Choir (Designated) Sunday School (Designated) 283,816 3,632,651 30,171 200 6,600 (66.035) (201) (1,775) 216,006 3,632,450 30,171 200 6,600 3,953,438 (88,238) (1,775) 3,885,427 Restrlcted funds Fabric, fittings & fine art fund MemorFal display fund Sunday school fund Choir fund Flower fund Daisy Smith discretionary fund Daisy Smith music & education fund Homeless fund Small saints fund Belfry fund Bells fund Repair fund Audiolvisual fund SDF Funding 4,715 1,718 1739) 3,978 1,718 518 349 (33) 563 171 2,084 516 110 (531) 239 498 563 171 2,084 46 5,198 {518) 683 9,916 465 22 (106) (2,242) 34,469 (2,564) 4,339 3,099 3,843 577 7,874 34,489 25,313 31,964 1,775 59,052 TOTAL FUNDS 3,978,751 (34,272) 3,944,479 Net movement In funds, included in the above are as follows.. Incoming resources Resourc&8 expended Gains and Movement losses In funds Unrestricted funds General fund Building fund 447,719 (518,908) (201) 5,154 {66,035) 1201) 447,719 (519,109) 5,154 {66,236) Restrlcted funds Fabric, fittings & fine art fund Suii¢Jdy sL'liuul furi Choir fund Flower fund Belfry fund Bells fund Repair fund Audiolvisual fund SDF Funding 1739) {739) 318 110 (531) 465 22 (106) (2.242) 34,469 243 180 270 7.735 1,368 199 271 (70) (801) (7,270) (1,346) (469) (2.242) (262,6111 164 297,080 307,077 (275.548) 435 31,964 TOTAL FUNDS 754,796 1794,657) 5.589 (34,272) Page 22 continued...
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 20. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.12.23 At1.1.23 Unrestrlcted funds General fund Building fund Repair (Designated) Choir (Designated) Sunday School (Designated) 343,845 3,643,230 31,973 200 11,375 {25,5371 {10,5791 (1,802) 134,492) 283,816 3,632,651 30,171 200 6,600 (4,775) 4,030,623 (42,693) 134,492) 3,953,438 Restrlcted funds Fabric, fittings & fine art fund Memorial display fund Choir fund Flower fund Daisy Smith discretionary fund Daisy Smith music & education fund Homeless fund Small 5aint5 fund Belfry fund Bells fund Repair fund Audiolvisual fund SDF Funding 5,559 1,718 239 1,762 563 171 2,084 46 4,391 (844) 4,715 1,718 239 498 563 171 2,084 46 5,198 1518) 683 9,916 (1,264) 807 (5181 683 (3,0541 (34,4921 12,970 34,492 29,503 (38,6821 34,492 25,313 TOTAL FUNDS 4,060,126 (81,3751 3,978,751 Page 23 continued...
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 20. MOVEMENT IN FUNDS - contlnued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and Movement losses in funds Unrestrlcted funds General fund Building fund Repair (Designated) Sunday School (Designated) 506,015 (555,803) (10,579) (2,160) 24,251 (25.537) (10,579) (1,8021 (4,775) 358 (5,098) 323 506,338 (568,542) 19,511 (42,693) Restrlcted funds Fabric, fittings & fine art fund Flower fund Belfry fund Bells fund Repair fund Audiolvisual fund SDF Funding {8441 (1,2641 (1,238) (1,148) {140) (3,054) (151,941) (844) (1,264) 807 (518) 683 (3,054) (34,4921 2,045 628 823 117,449 120,945 (159,627) (38,682) TOTAL FUNDS 627,283 (728,169) 19,511 (81,3751 Repalr funds {designated} Funds are designated to be used for the fabric upkeep of the All Saints building. Cholr fund (deslgnated) Funds are designated to be used for costs in relation to the St. Michael's Church choir. Sunday school Ideslgnatedl Funds are designated to be used to further the work of St. Mlchael's Church in relation to the rellgious education of children and young people. Fabric, fittings & flne art fund Funds are used to pay for repairs and purchases in relation to the fabric, fittings and fine are of St Michael's Church. Memorfal dlsplay fund Funds were used to purchase an interactive World War l Memorial Display which has been installed in the Memorial Chapel of St. Michael's Church. Remaining funds are reserved to pay for possible future changes to the display Sunday school fund Funds are used to further the work of St. Michael's Church in relation to the religious education of children and young people. Tufty club fund Residual balance for Children's Road Safety Club which has since stopped, fijnds retained to be used on a different but related purpose. Flower fund Funds are used to cover the costs involved in providing flowers for decorating St. Michael's Church. Daisy Smith discretionary fund Page 24 continued...
BASINGSTOKE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 20. MOVEMENT IN FUNDS- continued Being retained funds received from a £500 legacy, to be used on ad hoc minor expenses at the discretion of the priest in charge. Dalsy Smtth muslc & educatlon fund Also being retained funds received from a £500 legacy noted above to be used to help in musical education for children. For example, recent use has included choral training for a teenage choir member. Homeless fund Funds are used to support work with homeless people in Basingstoke. They have been used to cover costs incurred in the running of the Night Light Winter Shelter at St. Michael's Church and to make donations to the Camrose Centre. Belfry fund Being for the running of the All Saints Bellringing team and bell tower related maintenance. Bells fund Funds are used to pay for repairs and purchases in relation to the belty of St. Michael's Church. Repalrs fund Funds from varlous historic donations being used for the fabric upkeep of the All Salnts bulldlng. Audlolvisual fund Funds were used towards the cost of the purchase and installation of a new Audiowvisual system at St. Michael's Church. This included a major upgrade to the sound system and new video projection facilities. SDF Funding Five year Strategic Development Fund grant awarded to fund the St Michael's building project and the initial church plant. 21. CAPITAL COMMITMENTS As of 31 st December 2024, Basingstoke PCC has entered into contracts with total value of £1,153,615 (2023-. £Nil) wth a outstanding liabilily on the contract at year end of £1,050,088 what is in relation to a project for the development of St Michael's church which Basingstoke PCC is receiving funding for. 22. RELATED PARTY DISCLOSURES One of the trustees is also a trustee of Friends of All Saints Church Basingstoke, during the year Friends of All Saints Church Basingstoke made a donalion of £2,230 (2023.. £Nil) in relation to bell repairs. Two trustees are also trustees of The Parrett Trust, during the year The Parrett made donation of £8,774 (2023.. £121,000) in relation to organ repairs at All Saints Church.The 2023 amount is in relats'on to grants received from The Parrett Trust. Page 25