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2025-12-31-accounts

BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

BROADWATER PAROCHIAL CHURCH COUNCIL

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Page
Report of the Trustees 1 to 12
Independent Examiner's Report 13
Statement of Financial Activities 14
Statement of Financial Position 15
Statement of Cash Flows 16
Notes to the Statement of Cash Flows 17
Notes to the Financial Statements 18 to 26
Detailed Statement of Financial Activities 27 to 28

BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

The trustees present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of 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 2019).

1. CHARITY ADMINISTRATIVE INFORMATION

The benefice of Broadwater is situated in the Northern part of the town of Worthing, and pre-dates the town. Broadwater Parish is part of the Diocese of Chichester within the Church of England and has a population in excess of 20,000. Broadwater Parish comprises three church sites - St Mary's Church; St Stephen's Café Church; and Queen Street Church - and also a separate Parish Office.

The registered office and address for correspondence is:

The Parish Centre 117 Broadwater Road, Worthing BN14 8HT Tel. 01903 823916 Email: office@broadwaterparish.org Website: www.broadwaterparish.org.uk

PCC BANKERS

HSBC Bank PLC 1 Warwick Street Worthing BN11 3DE

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ

LEGAL ADVISORS

Miller Parris Solicitors 3 Cricketers Parade Broadwater Street West Worthing BN14 8JB

INDEPENDENT EXAMINER

Acuity Professional Unit 2.02 High Weald House, Glovers End Bexhill TN39 5ES

Broadwater PCC Registered Charity No. 1133987.

2. STRUCTURE, GOVERNANCE AND MANAGEMENT OF THE CHARITY

The Parochial Church Council (PCC) is registered with the Charity Commission as required by the Charities Act 2011. Its governing document is the Parochial Church Councils (Powers) Measure 1956.

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

During the year, the following served as members of the PCC: -

CLERGY Team Rector The Revd Gaz Daly (until June 2025. Currently Vacant) Team Vicar The Revd Gary Neal Assistant Pastor Rev Sam Buck (Co-Opted) PARISH WARDENS Mr Andrew Rayner Mr John Whitehead DEPUTY-WARDENS St Mary's Mr George Woollard Mrs Victoria Ludlow St Stephen's Mrs Mary Stewart Mr Matthew Tomson DEANERY SYNOD Mrs Liz Farrow Ms Caroline Stacey Ms Sandra Squire PCC REPRESENTATIVES St Mary's Mrs Patricia Westram Mrs Tusa Clark Mr Richard Hobbs Mrs Elizabeth Crockett Mr Andrew Marshall Ms Lauren Banks Mr Richard Gray Mr Tim Miller Ms Joan Saunders Mr Matthew Worsfold Mrs Teresa Anderson (Co-Opted Safeguarding Officer) PCC TREASURER Mr Geoffrey Gair PCC SECRETARY Mrs Jill Lancaster (Co-Opted)

2.1 PCC Appointments and Responsibilities

The PCC has responsibility for the running of the parish but may delegate some of its work to the Parish Leadership Team (comprising clergy, parish wardens, deputy wardens and treasurer). There are two Church Wardens (known as Parish Wardens) and each church has two deputy wardens. All of these are ex-officio members of the PCC. The method of appointment of PCC members is set out in the Church Representation Rules and in the PCC Constitution. All Church attendees are encouraged to register on the Electoral Roll.

The PCC is responsible for a wide range of matters affecting the parish including health and safety, disability legislation and parish safeguarding policies.

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

In their capacity as trustees, members of the PCC are responsible for the stewardship of funds and for the appropriate accounting and reporting of the parish finances. Company Law and Charity Law require the PCC to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the surplus or deficit for that period. The PCC usually elect a Parish Treasurer to oversee this and to provide regular financial information.

The PCC works to ensure that each member is equipped to fulfil their role. When new members join the PCC, they are given instructions as to their duties, privileges, and responsibilities on behalf of the Chair and directed to the relevant provisions made by the Charity Commissioners, before being formally welcomed and inducted.

The PCC pays due regard to the published guidance from the Charity Commission on the operation of the Public Benefit requirement under the Charities Act 2006.

2.2 Related Trusts and Charities

There are now no other related Trust or Charities.

2.3 Management of potential risks, uncertainties and their mitigation

The PCC has an ongoing task of reviewing the major risks which impact on the work of the churches in the Parish. The PCC consider that the principal risks and uncertainties are :-

1. Health and Safety within Church Buildings.

2. Safeguarding children and vulnerable people

3. Funding of large, unexpected fabric costs

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

£400,000 to cover potential redevelopment or emergency capital costs. We are currently aligning our three-year financial plan with the urgent works identified in the 2025 QIR.

4. Voluntary Income Trends and Financial Sustainability

5. Personnel, Governance, and Interregnum Resilience

2.4 PCC Meeting Attendance

The full PCC met six times in 2025 with an average attendance of 90%. The Parish Leadership Team (PLT) aim to meet between PCC meetings and minutes of their deliberations were received by the full PCC and discussed. The PLT met 6 times in 2025.

The PCC is always looking at opportunities to improve communication with congregation members following meetings held. Church Wardens or a PCC member, aim to highlight three key discussion points to congregations during the "Notices" at the Sunday service following a meeting.

3. OUR OBJECTIVES AND PURPOSES AS A CHARITY AND CHURCH

The PCC of the Ecclesiastical Parish of Broadwater has the responsibility of co-operating with the Incumbent (or, during

a vacancy, the Churchwardens and Rural Dean) in promoting in the ecclesiastical parish the whole mission of the Church: pastoral, evangelistic, social, and ecumenical.

Our primary purpose is to be a welcoming and inclusive community that exists to:

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

place of belonging for all.

For close to a thousand years Christians have met together in Broadwater Parish, coming together before God to worship him and sharing the good news of Jesus Christ in our community. The PCC is not only maintaining this calling but future proofing the fabric of the church for generations to come.

The vision of Broadwater Parish continues to be to 'Love In, Love Out and Love Up'. Working together in the name of Jesus for the revitalisation of the church in Worthing and for the transformation of lives. Linking to The Bible with Matthew 6:33 "Seek first His kingdom and His righteousness".

The PCC also supports a wide range of missionary and relief endeavours at home and overseas. Many members of our congregations are involved in Christian service of one sort or another and we actively encourage this. We also reach out to our local community and schools. In particular, we have very close links to our two Church of England schools at all levels, including governance.

The PCC encourages co-operation with churches in the deanery and with other denominations in the local area. The PCC recognises its role as part of the Diocese of Chichester and Church of England. Broadwater Parish was chosen to help Chichester Diocese celebrate its 950th Anniversary in February 2025, which was an honour and recognition of the continued ministry of this Parish over many years.

4. WHAT WE DO TO ACHIEVE OUR OBJECTIVES

When planning our activities for the year, our incumbent and the PCC have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on 'charities for the advancement of religion'. The PCC dutifully considers the safeguarding of children and vulnerable adults on activities.

The PCC maintains a wide range of ministries designed to serve the 15,000 residents of the parish and the wider Worthing

area. Our activities are focused on the following key areas:

Key activities can be found on the 'Mission Action Plan'. This is submitted to the Diocese and includes the following example activities to help fulfil our objectives and purpose:-

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

old, living in the community and beyond. This includes live streaming of services when appropriate. We offer space and time for people to easily access our church sites regularly and, provide Sunday and weekday opportunities for Christian worship.

5.0 WHAT WE ACHIEVED AND HOW WE AFFECTED BENEFICIARIES' LIVES

5.1. Electoral Roll

May 2024 May 2025
TOTAL 437 260

5.2. Attendance at Church

2024 Attendance 2024 Attendance 2025 Attendance Attendance
No. of services Adults Children Total Adults Child Total
St Mary's Church 3 233 51 284 228 39 267
St Stephen's Cafe 1 33 9 42 32 9 41
Church
Total 4 266 60 326 260 48 308

The 2024 and 2025 attendance figures are taken as an average throughout the year. Attendance numbers have fallen by 217 or 41% from 2016 when the average attendance reported was 525 (441 Adults & 84. Children). Factors include the closure of Hosanna and Queen Street Services and generally falling church attendances nationwide. The Parish needs to rebuild congregation numbers.

5.3. Key Achievements in 2025

The PCC is proud to report a year of resilience, and professionalisation. Despite the challenges of being in Interregnum, Broadwater has continued to thrive as a "Resource Church" in spirit, fostering a "Big Family" ethos while radically strengthening its underlying governance.

1. Transformation of Safeguarding and Governance

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

2. Mission and Ministry: Broadwater's Big Family

3. Stewardship of Fabric and Life Safety

4. Financial Resilience and Giving

At the APCM in April 2025, the outgoing Rector said "Thank You" to everyone who has helped and supported over the last 9 years in so many different and creative ways, from singers, musicians, flower arrangers, welcomers, servers - there are many more I could list. Thank you. I believe God has been at work during this time and has much more to do in this Parish.

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

6.0 STAFF AND OTHER RESOURCES

At the end of 2025, the team comprised of a Rector, though this role has been vacant since June 2025, who is Chair of the PCC and a Team Vicar. Both are employed directly by the Diocese. They are supported by three retired Clergy - Rev Bob Groves, Rev Andrew Smith and Rev George Butterworth - who each make a tremendous difference to our ministry.

At the end of 2025, the list of employees of the PCC, consisted of four cleaners to cover the three church sites and the Parish Centre, an Associate Pastor, Children's Pastor, an Under 5's Children's Pastor, a part-time Administrator and two administrators on zero-hour contacts. The Associate Pastor post is partly funded from a restricted legacy. The two Children's Pastor's are currently fully funded each year by a very generous, separate restricted donation for these purposes.

The church also benefits from the dedicated work of a great number of volunteers across the Parish. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

The PCC has the use of St Mary's church, which is owned by the Church of England. The PCC is responsible for the repair and upkeep of the church. Additionally, the PCC owns the St Stephen's and Queen Street sites, the Parish Centre and, the residential property at 67 Normandy Road. The residential property at 53 Lavington Road (68% owned by the PCC and 32% owned by the Diocese) was sold in 2022. These funds remain 'Ring Fenced' as a Designated Fund by the PCC, as a project continues to look at the costs to develop and improve the Parish Centre for wider church and community use.

7.0 THE YEAR AHEAD (2026)

As Broadwater Parish moves forward in 2026, we do so with a sense of profound expectation and "bold and exciting plans"for the future. Having successfully navigated the initial stages of the interregnum, our focus now turns toward revitalisation, partnership, and the renewal of our physical resources.

A Season of New Leadership

Our primary focus for the coming year is the appointment of a new Rector. Following the comprehensive consultation that informed our Parish Profile 2025, we are praying for an incumbent who will lead "Broadwater's Big Family" into its next chapter of mission and ministry. The PCC remains committed to supporting the staff team and Churchwardens throughout this transition, ensuring a stable and healthy parish environment for our new leader.

Worthing Revitalisation & Diocesan Partnership

We are encouraged by the Diocese's bid for a circa £20 million grant. As a "Resource Church" in spirit and impact, Broadwater Parish anticipates playing a central role in this regional strategy, seeking new ways to share the Good News and serve the 20,000 residents within our boundaries, and those further afield.

Partnership: Broadwater & Christ Church

2026 marks the beginning of a formal partnership with Christ Church, Worthing. This collaboration is born of a desire to see a sister church regrow and flourish after a challenging season. As a tangible sign of this commitment, we have supported our Associate Minister in becoming their Interim Priest in Charge. We look forward to the mutual growth and shared ministry this partnership will undoubtedly bring to our town.

Redeveloping the Parish Centre

A key strategic goal for 2026 is the progression of our Parish Centre redevelopment. We are currently awaiting the granting of planning permission for this essential community asset. While we have prudently set aside £400,000 in a Designated Fund for this purpose, we recognise that the total cost of a modern, fit-for-purpose facility will exceed this amount. Consequently, 2026 will, we expect, see the launch of a significant fundraising initiative to bridge this gap, ensuring our buildings can continue to serve Broadwater for generations to come.

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

Fabric & Stewardship

In addition to our redevelopment goals, we will begin the prioritised works identified in the 2025 Quinquennial Inspection and Fire Risk Assessments. Our focus will be on the urgent Category A masonry and drainage repairs to St Mary's Church tower, ensuring our historic Grade I listed home remains safe and watertight.

We continue to pray for our future, confident that Broadwater Parish is uniquely positioned to grow in faith, service, and numbers as we follow where God leads.

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

FINANCIAL REVIEW 8.1 Income and Expenditure.

Broadwater Parish is an independent Registered Charity, wholly reliant on the generous giving of our church members. Monies are spent across the whole Parish to share the Good News of the Gospel, with 10% of 'Regular Giving' used to financially support Mission Partners at home and abroad.

Thank you to everyone who is able to reflect God's generosity to us, by financially supporting and serving in the Parish. This includes 109 'Regular Givers' who do so through the 'Parish Giving Scheme' (PGS) or Bank Standing Order (BSO). The PGS is by far the best method to regularly give and, 57 of our church family do so. Please may I encourage the 53 who regularly give through BSO to consider switching to the PGS, as it saves a huge amount of accounting work.

I continue to provide monthly Parish Accounts to all PCC Members and, make these available to every church member through a link in the Weekly Newsletter and, they are available on the Parish Website. This transparency provides an opportunity for everyone to understand and scrutinize what monies come in to the Parish and, how it is spent. I would encourage everyone to review the Accounts and raise any queries to myself or to a member of the PCC. Regular up to date Accounts, made available to the PCC & church members, is a key layer of financial control & governance.

Our Annual Accounts for 2025 will be published for the APCM having gone through an Independent Examination. The key figures are that the Parish received £415k and spent £387k. The Parish budgeted for a Deficit of £45k but ended with a Surplus of £28k.The delay of Quinquennial maintenance work of £35k to 2026 and lower than budgeted utility costs helped, in part, to the Parish not being in deficit for the year.

The two pie charts below illustrates how every £1 was received and how every £1 was spent in 2025:-

The 'Pie Chart' on the left shows where the £415k was spent. In summary, for every £1 received, 54p is from Regular Giving, 23p from Restricted Donations & Grants, 11p from Gift Aid recovered from HM Revenue & Customs, 6p from Bank Interest and 6p from hiring rooms and event tickets.

The 'Pie Chart' on the right shows where the £387k was spent. It is important to highlight that Broadwater Parish made a significantly lower contribution in 2025 to the Diocese towards 'Parish Ministry Costs'. A full contribution to the Diocese for providing the Rector and a Team Vicar would have been £153k. The Parish contributed £72k. The shortfall to the Diocese meant that the Parish did not run in deficit as in prior years. Out of every £1 spent, 35p was used to pay the Non-Clergy Staff Team, 23p for Diocese/Clergy costs, 11p to Mission Partners, 10p on maintaining all Parish buildings, 8p on electric, gas, water, phone & insurance, 7p on church services, outreach & admin etc.

The Parish Budget in 2026 forecasts a Deficit of £50k. This is even with the Parish continuing to pay a reduced contribution to the Diocese of £72k instead of £153k. The Parish has been without a Rector since June 2025 but, even in a period of Interregnum, a Parish is asked to make a full contribution to the Diocese towards 'Parish Ministry Costs'.

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

We deeply appreciate those who regularly give. With 'Regular Giving' only providing 54p for every £1 received, the Parish does need more people to prayerfully consider giving in this way. This would help to reduce the reliance on other receipts to operate and, also to making a full contribution to the Diocese without depleting Parish Reserves.

The receipt of a large legacy in 2019 has helped to sustain the Parish financially in recent years. Leaving a legacy gift to the Parish is another wonderful way to generously support God's Mission in Worthing and beyond for future generations

8.2 Total Parish Reserves or Net Assets.

Income of £415,691 over Expenditure of £387,450 gave a Net Surplus of £28,241 for 2025. 'Net Assets' or 'Parish Reserves' at the end of 2025 grew by the Surplus from £1,123,919 to £1,152,160. These Reserves can be broken down to £755,919 in the Bank and £396,241 in Property. Parish property shown in the Accounts is valued at the initial purchase price, so its accounting value is low given that the real, tangible value is only realised on the sale of a property and, the current Market Value of the Parish properties is considered to be significantly higher.

The Parish Reserves held in the bank of £755,919 appears high but, contained within this figure is "Restricted Funds" and monies already "Designated" for spending totalling £554,002. This figure includes £392,750 'Ring Fenced' by the PCC from the sale of Lavington Road in 2022 to improve the Parish Centre. The actual 'Unrestricted Cash Reserves" held in the bank for Parish use at the end of 2025 is £201,917.

8.3 Summary

Considerable investments have been made in the Parish since 2019 with the completion of the Re-Ordering project at St Mary's, essential ongoing maintenance of all Parish buildings, the employment of additional paid staff in Youth and Children's Work, together with upgrades to audio and visual equipment enabling livestreaming of services. These investments have come about from the generosity of our church members and, was needed to 'future proof' the Parish buildings and equipment for their wider use today and for future generations. There are £393k of funds held and currently 'Ring Fenced' for the Parish to use, potentially, for improvements to the Church Centre. This project commenced in 2024 with the engagement of an architect. Planning Applications were submitted to the Borough Council in late 2025. Further details will be communicated to church members in 2026 once formulated by the new Rector and the PCC.

Looking ahead, the forecast or Budget is that expenditure in 2026 will exceed income by £50,000 which may further reduce the £201,917 of 'Unrestricted Cash Reserves' held by the Parish at the end of 2025. The Parish will be able to meet all of its financial commitments in 2026 but, requires actions aimed at increasing both church membership and generous giving.

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BROADWATER PAROCHIAL CHURCH COUNCIL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

FINANCIAL REVIEW

Reserves & Legacy Policies

The PCC policy is to maintain a minimum balance on the general 'Unrestricted Cash Reserves' (i.e. excluding 'Designated & Restricted Funds' and excluding property) which equates approximately to three months (maximum of six months) of regular running costs. This is to ensure continued financial security, provide for unforeseen expenditure and, to maintain cash flow for the provision of Clergy, staff salaries and other regular church running costs.

The closing 'Unrestricted Cash Reserves' balance of £201,917 represents five months of regular running costs (5 £40k = £200k) giving sufficient cash flow in 2026 for the Parish to pay bills as they fall due.

Should 'Unrestricted Cash Reserves' exceed six months of running costs the PCC will develop a clear plan for the surplus, identifying proposed spending plans and timescales. This usually involves improving the fabric of our buildings and updating obsolete equipment, in projects aimed at improving our infrastructure for future generations of worshippers. The PCC does hold a mixture of 'Designated' and 'Restricted' Funds for these purposes totalling £439,140 for these purposes, with £393k set aside for the Parish Centre, £46k set aside for the Quinquennial inspection of St Mary's .However, to fully develop and refurbish the Parish Centre, this could cost up to £1.5m, requiring additional fundraising.

From time to time the PCC receives legacies. We aim to spend such money as soon as possible after receiving the legacy, in accordance with the wishes of the legator.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.................................................................... Trustee

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BROADWATER PAROCHIAL CHURCH COUNCIL

Independent examiner's report to the trustees of Broadwater Parochial Church Council

I report to the charity trustees on my examination of the accounts of Broadwater Parochial Church Council (the Trust) for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection 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.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Deborah Hargreaves FCA

Acuity Professional Partnership LLP Unit 2.02 High Weald House Glovers End Bexhill East Sussex TN39 5ES

Date: ............................................. 27th April 2026

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BROADWATER PAROCHIAL CHURCH COUNCIL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
INCOMING RESOURCES FROM
CHARITABLE ACTIVITIES FROM
Voluntary income
2
Charitable activities
5
Church Activities
Activities for generating funds
3
Investment income
4
Other income
Total
EXPENDITURE ON
Charitable activities
6
Church Activities
Charitable activities
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
11
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
367,627
4,047
14,237
23,928
5,852
415,691
387,450
-
387,450
28,241
42,776
71,017
981,637
1,052,654		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
(42,776)
(42,776)
142,282
99,506		 2025
Total
funds
£
367,627
4,047
14,237
23,928
5,852
415,691
387,450
-
387,450
28,241
-
28,241
1,123,919
1,152,160		 2024
Total
funds
£
347,676
6,492
11,490
29,551
5,619
400,828
453,239
40,874
494,113
(93,285)
-
(93,285)
1,217,204
1,123,919

The notes form part of these financial statements

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BROADWATER PAROCHIAL CHURCH COUNCIL

STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2025

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Cash at bank
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
11
Unrestricted funds:
Unrestricted - General
Designated - Quinquennial and Global Outreach
Designated - Parish Centre Fund
Restricted funds:
Restricted - St Mary's Re-ordering
Restricted - Parish Youth Work
Restricted - Childrens Pastor Salary
TOTAL FUNDS		 Unrestricted
funds
£
396,241
656,413
656,413
1,052,654
1,052,654		 Restricted
funds
£
-
99,506
99,506
99,506
99,506		 2025
Total
funds
£
396,241
755,919
755,919
1,152,160
1,152,160
598,158
61,746
392,750
1,052,654
10,122
76,343
13,041
99,506
1,152,160		 2024
Total
funds
£
396,241
727,678
727,678
1,123,919
1,123,919
531,553
54,988
395,096
981,637
24,470
105,152
12,660
142,282
1,123,919

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Trustee

The notes form part of these financial statements

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BROADWATER PAROCHIAL CHURCH COUNCIL

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Other income
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
(1,539)
(1,539)
5,852
23,928
29,780
28,241
727,678
755,919		 2024
£
(128,455)
(128,455)
5,619
29,551
35,170
(93,285)
820,963
727,678

The notes form part of these financial statements

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BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Profit on disposal of fixed assets
Interest received
Net cash used in operations		 2025
£
28,241
(5,852)
(23,928)
(1,539)		 2024
£
(93,285)
(5,619)
(29,551)
(128,455)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25 Cash flow At 31.12.25
£ £ £
Net cash
Cash at bank 727,678 28,241 755,919
727,678 28,241 755,919
Total 727,678 28,241 755,919

The notes form part of these financial statements

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BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the FRS 102 Charities SORP.

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets.

FUND ACCOUNTING

General funds represent the funds of the Parochial Church Council (PCC) that are not subject to any restrictions regarding their use and which are available for application for the general purposes of the PCC.

Funds designated for a particular purpose by the PCC are also unrestricted.

Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or requested by the PCC for a specific object. The funds may only be expended on the specific object for which they are given. Any balance remaining unspent at the end of the year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor the accounts of church groups of informal gatherings of church members.

INCOMING RESOURCES

Voluntary income and capital sources

Other ordinary income

Rental income from the letting of church premises is recognised when rental is paid.

Income from investments

Dividends and interest are accounted for when received. Tax recoverable on such income is recognised in the same accounting year.

RESOURCES EXPENDED

All expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs related to that activity. Where costs cannot be directly attributed they are allocated to activities on a basis consistent with the use of resources.

Overheads and salaries are allocated between expense headings on the basis of time spent.

Costs of generating voluntary income comprise the costs associated with attracting voluntary income.

Fundraising trading costs comprise the costs of trading for fundraising purposes.

continued...

Page 18

BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

1. ACCOUNTING POLICIES - continued

RESOURCES EXPENDED

Church Activities includes those costs incurred by the PCC in the delivery of its objectives and services for the benefit of the parish. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs are those incurred in connection with the management of PCC's organisational administration and compliance with the constitutional and statutory requirements.

TRANSFER

The Parochial Church Council are permitted to make transfers to correct shortfalls or mis-allocations between funds

TAXATION

The charity is exempt from tax on its charitable activities.

FINANCIAL INSTRUMENT

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognized in the charity balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group charities that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

continued...

Page 19

BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

2. VOLUNTARY INCOME

VOLUNTARY INCOME
Unrestricted
funds
£
Planned giving
204,316
Collection at services
23,183
Donations and appeals
90,736
Income tax recoverable
44,902
Grants
2,599
Legacies
1,891
367,627		 Restricted
funds
£
-
-
-
-
-
-
-		 2025
Total
funds
£
204,316
23,183
90,736
44,902
2,599
1,891
367,627		 2024
Total
funds
£
198,796
16,398
95,588
33,817
3,077
-
347,676

3. ACTIVITIES FOR GENERATING FUNDS

ACTIVITIES FOR GENERATING FUNDS
Unrestricted
Restricted
funds
funds
£
£
Room hire
11,643
-
Other
2,594
-
14,237
-
INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Interest received and Rental income
23,928
-		 2025
Total
funds
£
11,643
2,594
14,237
2025
Total
funds
£
23,928		 2024
Total
funds
£
11,039
451
11,490
2024
Total
funds
£
29,551

4. INVESTMENT INCOME

continued...

Page 20

BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

5. INCOME FROM CHARITABLE ACTIVITIES

Activity
Fees
Church Activities
CHARITABLE ACTIVITIES COSTS
Church Activities
SUPPORT COSTS
Church Activities		 Direct
Costs
£
383,221		 2025
2024
£
£
4,047
6,492
Support
costs (see
note 7)
Totals
£
£
4,229
387,450
Governance
costs
£
4,229

6. CHARITABLE ACTIVITIES COSTS

7. SUPPORT COSTS

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOMING RESOURCES FROM
CHARITABLE ACTIVITIES FROM
Voluntary income
Charitable activities
Church Activities
Activities for generating funds
Investment income
Other income
Total
EXPENDITURE ON
Charitable activities
Church Activities
Charitable activities		 Unrestricted **
funds
£**
347,676
6,492
11,490
29,551
5,619
400,828
453,239
40,874		 Restricted
funds
£
-
-
-
-
-
-
-
-		 Total
funds
£
347,676
6,492
11,490
29,551
5,619
400,828
453,239
40,874

continued...

Page 21

BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted ** Restricted
funds
funds
£
£
Total
494,113
-
NET INCOME/(EXPENDITURE)
(93,285)
-
Transfers between funds
29,021
(29,021)
Net movement in funds
(64,264)
(29,021)
RECONCILIATION OF FUNDS
Total funds brought forward
1,045,901
171,303
TOTAL FUNDS CARRIED FORWARD
981,637
142,282
10.
TANGIBLE FIXED ASSETS
Moveable
Freehold
Plant and
church
property
machinery
furnishings
Equipment
£
£
£
£
Cost
At 1 January 2025 and
31 December 2025
396,241
1,291
74,426
29,695
Depreciation
At 1 January 2025 and
31 December 2025
-
1,291
74,426
29,695
Net book value
At 31 December 2025
396,241
-
-
-**
At 31 December 2024
396,241
-
-
-		 Total
funds
£
494,113
(93,285)
-
(93,285)
1,217,204
1,123,919
Totals
£
501,653
105,412
396,241
396,241

continued...

Page 22

BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

10. TANGIBLE FIXED ASSETS - continued

Freehold land and property
Freehold land
Rear of Queen Street
Freehold property
Broadwater centre
Clergy houses
67 Normandy Road
37 Angola Road
TOTAL
MOVEMENT IN FUNDS
Unrestricted funds
Unrestricted - General
Designated - Quinquennial and Global
Outreach
Designated - Parish Centre Fund
Restricted funds
Restricted - St Mary's Re-ordering
Restricted - Parish Youth Work
Restricted - Childrens Pastor Salary
TOTAL FUNDS
Net movement in funds, included in the above a
Unrestricted funds
Unrestricted - General
TOTAL FUNDS
At 1.1.25
£
531,553
54,988
395,096
981,637
24,470
105,152
12,660
142,282
1,123,919
re as follows:		 1987

1995
1997
Net
movement
in funds
£
28,241
-
-
28,241
-
-
-
-
28,241
Incoming
resources
£
415,691
415,691		 £

93,804
145,698
Transfers
between
funds
£
38,364
6,758
(2,346)
42,776
(14,348)
(28,809)
381
(42,776)
-
Resources
expended
£
(387,450)
(387,450)		 £
16,057
140,682
239,502
396,241
At
31.12.25
£
598,158
61,746
392,750
1,052,654
10,122
76,343
13,041
99,506
1,152,160
Movement
in funds
£
28,241
28,241

11. MOVEMENT IN FUNDS

continued...

Page 23

BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
Unrestricted - General
Designated - Quinquennial and Global
Outreach
Designated - Parish Centre Fund
Restricted funds
Restricted - St Mary's Re-ordering
Restricted - Parish Youth Work
Restricted - Childrens Pastor Salary
TOTAL FUNDS		 At 1.1.24
£
590,406
55,452
400,043
1,045,901
29,829
129,300
12,174
171,303
1,217,204		 Net
movement
in funds
£
(93,285)
-
-
(93,285)
-
-
-
-
(93,285)		 Transfers
between
funds
£
34,432
(464)
(4,947)
29,021
(5,359)
(24,148)
486
(29,021)
-		 At
31.12.24
£
531,553
54,988
395,096
981,637
24,470
105,152
12,660
142,282
1,123,919

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Unrestricted - General
TOTAL FUNDS		 Incoming
resources
£
400,828
400,828		 Resources
Movement
expended
in funds
£
£
(494,113)
(93,285)
(494,113)
(93,285)

continued...

Page 24

BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
Unrestricted - General
Designated - Quinquennial and Global
Outreach
Designated - Parish Centre Fund
Restricted funds
Restricted - St Mary's Re-ordering
Restricted - Parish Youth Work
Restricted - Childrens Pastor Salary
TOTAL FUNDS		 At 1.1.24
£
590,406
55,452
400,043
1,045,901
29,829
129,300
12,174
171,303
1,217,204		 Net
movement
in funds
£
(65,044)
-
-
(65,044)
-
-
-
-
(65,044)		 Transfers
between
funds
£
72,796
6,294
(7,293)
71,797
(19,707)
(52,957)
867
(71,797)
-		 At
31.12.25
£
598,158
61,746
392,750
1,052,654
10,122
76,343
13,041
99,506
1,152,160

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
Unrestricted - General
TOTAL FUNDS		 Incoming
resources
£
816,519
816,519		 Resources
Movement
expended
in funds
£
£
(881,563)
(65,044)
(881,563)
(65,044)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.

continued...

Page 25

BROADWATER PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

13. PURPOSE OF FUNDS

Designated funds

Quinquennial Fund - maintenance work required on St Mary's Parish Church.

St Stephens Cafe Church - various social and community activities.

Global Outreach - To financially support the domestic and overseas 'Mission Partners' of Broadwater Parish.

Parish Centre Project - Funds received in 2022 from the sale of Lavington Road and set aside by the PCC to, potentially improve the Parish Centre building.

Restricted funds

St Mary's Re-ordering - to fund the re-ordering of St Mary's church i.e. the development of the building and fabric to better meet the current and future needs of the church and local community.

Youth Work - a legacy received in 2019 'for Youth Work and for the payment of the salary of a Youth Worker'

Childrens Pastor & Pre School Worker - balance of an annual donation to pay for the salaries of two staff members.

Page 26

BROADWATER PAROCHIAL CHURCH COUNCIL

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Unrestricted Restricted
funds
funds
£
£
INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
Voluntary income
Planned giving
204,316
-
Collection at services
23,183
-
Donations and appeals
90,736
-
Income tax recoverable
44,902
-
Grants
2,599
-
Legacies
1,891
-
367,627
-
Activities for generating funds
Room hire
11,643
-
Other
2,594
-
14,237
-
Investment income
Interest received and Rental income
23,928
-
Charitable activities
Fees
4,047
-
Other income
Other income
5,852
-
Total incoming resources
415,691
-
EXPENDITURE
Charitable activities
Missionary and charitable giving
42,238
-
Ministry costs
72,000
-
Church running expenses
53,954
-
Office salaries
134,214
-
Light and heat
23,808
-
Maintenance, Security & Repair
36,764
-
Administration
12,167
-
Insurance
8,076
-
Obligations & subscriptions
-
-
383,221
-		 2025
Total
funds
£
204,316
23,183
90,736
44,902
2,599
1,891
367,627
11,643
2,594
14,237
23,928
4,047
5,852
415,691
42,238
72,000
53,954
134,214
23,808
36,764
12,167
8,076
-
383,221		 2024
Total
funds
£
198,796
16,398
95,588
33,817
3,077
-
347,676
11,039
451
11,490
29,551
6,492
5,619
400,828
36,245
153,262
61,233
121,128
36,473
63,849
8,959
8,335
980
490,464

This page does not form part of the statutory financial statements

Page 27

BROADWATER PAROCHIAL CHURCH COUNCIL

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Unrestricted
Restricted
funds
funds
£
£
Support costs
Governance costs
Accountancy and legal fees
4,229
-
Total resources expended
387,450
-
Net expenditure
28,241
-		 2025
Total
funds
£
4,229
387,450
28,241		 2024
Total
funds
£
3,649
494,113
(93,285)

This page does not form part of the statutory financial statements

Page 28