WESTERHAM PARISH CHURCH, KENT ANNUAL REPORT and FINANCIAL STATEMENTS of the Parochial Chiirch Council for the year ending 31" December 2024 Incumbent and Vicar from I. July 2024: Reverend David Fox-Branch The VicaTa&ye Vicarage Hill Westerliam, Kent Bank National Weslminster Bank PIC Sevenoaks branch 67 Hi&ih Street Sevenoaks, Keiit Independent examiner: Brian Downs Downs & Co Chartered Certified Accoiintants 61 Croydon Road Keston BR2 6EH 15th May 2025 Registered charity number 1133994
ST MARY THE VIRGIN PARISH CHURCH WESTERHAM. KE]Yr Membership of the PCC 2024 The metliod of appointment of Parochial Church Council, (PCC) members is set out in the Churcli Representatioi? Rules, with meinbers for 2024 listed below. F.x Officio: Incumbent Benefice Vicar from 117124 Co-opted Revd David Fox-Braiich Cliair Revd Wendy Harvey Since 23, September 2021 Ratified at APCM Elected May 2024 Vice Chair Churchwarden Deanery Synod Representatives Mrs A Morris Mrs C Bostoii Mrs K Sinart Mi. D Booker Elected Members {12 allowed including co-opted) Chair of Fabric Cominittee Mrs G Bunnester Mr P Cambridgle Mrs C Cusick Mrs J Dut"field Mrs K Jolinson Dr A l.eatl)er Mr B Prestoii Mrs R Preston Mr K Willcox Mrs J Willer The PCC is 8UPPOrted by the followingF oificers (not PCC meinbers) biit iii attendai)ce at Ineetiiigs) PCC Secretary Miss A Coughlan lil attendance al meetings Mrs A Perret uiitil March 2024, theii vacaiit Due to the va¢]cY for a Treasiirer, a finance team coi)sisting of the Vicar, Churchwarden and PCC secretary has overseen tlie production of these accoiiiits. All those who attend our services are encouraged to register on the Electoral Roll and stand for electioii to the PCC. PCC members are responsible for makingy decisions on all matters of general concen) wid importaiice to the parisli, includiiig deciding how PCC funds are to be spent. Given its wide responsibilities, the PCC has various sub-committees- Fabric, Finance and a Standing Coininittee which can Inake decisions reqiitred between full PCC ineetingys. Each committee has clear tenns of reference wid report back to the full PCC. Since 2023 there has also been a less fornial, establislied to Resigned January 2024 ResiLiiied Noveinber 2024 Parish Safeguardi Iigy Officer] ResigFned Jwiiiary 2024 Treasurer 2024
raise fuiids througli social and commiinity events. Tliere is also an Environmental Group, wliicli is open to th iion-cliurch members and works especially witli regiard to the 5 Mark of Mission. Financial Report by the PCC of St Mary the Virgin Parish Church, Westerham for 2024 l Aim and purpose St Mary the Virgin Parochial Church Council {PCC) has the responsibility of cooperatingi with the Incumbent, the Reverend David Fox-Branch, in promoting iii the ecclesiastical parish. the whole mission of the Church, pastoral, evangyelistic, social and ecumenical. The PCC is also specifically respoiisible for the maiiiteiiance of tlie Chiirch of St Mary ihe Virgiii, incluth'iig the attaclied 'Johii Frytli Room. hall and churchyard at Tlie Green, wester11ll. 2 Objectives and activities The PCC is committed to using the 5 Marks of Mission to shape the life of the church community in oiir vision of 'Serviiig Christ, Westerliam and the Wider World" The 5 Marks of Mission express the AnLilican Coinmiinioii's common commitinent to, and understanding of, God's holistic/iiitegirdl mission. i.e. l. To proclaim the Good News of the Kiii&dom 2. To teach, bapti se and nurture new believers 3. To respond to hiiman need by lovingy service 4. To trai)sform unjusi structures of society, to cl)allenge violence of every kind and pursue peace aiid recoIiciliation 5. To strive lo safeLiuard the integrity of creation, and sustain and renew the life of the earth We seek to reach as many people as possible witli the Good News of Jesus Clirist, enabliiigi il)em to worship at the chiirch and to become part of tlie faith community at St Mary the Virgrin. We aim to benefit ihe piiblic locally and from fiirther afield by offerinbtr a variety of church services and by enablii)b people to live out their faith witliin both ihe church and wider comm unity. As a parish church. we support people from Westerham, aiid further afield, at particular points in tlieir lives by preparinL¥ them for, and taking weddings, baptisms and fiinerals. The iiiiinber of these 'occasional oifices, held in chiirch was 29 in 2024, compared to.35 in 2023 and 30 in 2022. Oiir s¢rvic¢s and worship put faith into practice through prayer and scripture, music and sacrament. To facilitate all this work, it is important that we maintain the fabric of the Church of the churcli building and churchyard. In 2024 The Benefice Ministry Team consist¢d of. Incumbent, Revd. David Fox-Branch Pn'est with Pern]ission to Officiate, Revd. Wendy Harvey Priest with Pern)ission to Officiate, Revd Alison Cooper (Westerham only) Ordinand, Dr Susan Leather (until May 2024) Ordinand, Jess Spickernell (from September 2024) Director of Music, Mr Daniel Eaton, supports the ministry team's service planning, plays the organ and piano for Sunday and other services, leads the choir and plans special events.
We also employ a parl-time Administrator, Alyson Coughlan, who additionally serves as Secretary to the Parocliial Church Council. She is based in the Parish oifice which, since July 2024, has become the Benefice oirice. Achievements and performanee Revd Fox-Branch was appointed as Priest-in-charge in 2021 with the brief to explore becoming a united benefice with a neighbouring parish. This was achieved on July 1 2024, forniii)g the Benefice of Crockliam Hill and Westerham, and has been the strategic focus for the year. The parislies retain their identities and financial independence biit have resolved to share costs aiid other resources as appropriate, and to establish fair mechanisms for so doing. In the latei autumn of 2024, tliey resolved to Create a Joint Council to provide shape the vision of the new Benefice and provide stralegic oversight. This was awaiting approval from the diocese on 31, December. 3.a To proclaim the Good News of the Kingdom Our main vehicle for proclamation is oiir worship, as well as having the doors of the church open daily and eiicouragiinLI the coiigyregyatioii to be confident in conversations aboui faiih. Beingi the only Angilican chiircli in Westerham we offer a variety of worship services. includinbi traditional language 'said' Cominunion, choral morniiig services, Evensongi and inforn]al worship. In 2024 we continued to consolidate our patteni and numbers. A detailed discussion of attendance can be found in tlie Westerhajn PCC Report for 2024 under 'Worship'. Miiiister5 also led MorninL> Prayer oli most Tuesdays, Wediiesdays, Thursdays, Fridays and Saturdays, as well as a midweek Eucl)arist. We have a reglular schools Iniijisiry shared witli ilie local CongFregyaiional Church, plus four school services in church tliis year. These are opportunilies to bringi the Christian Inessage lo adiilts and childreii alike who oiherwise might i)ot nonnally visit a church. In addition. we have continued to offer a rich proarnMe of special ai)d seasonal services. 3.b To teach, baptise and nurture new believers In 2024 we had 5 baptisrns compared to 10 in 2023 but, as there were also 5 ii) both 2021 and 2022, this would suggest that 2023 was an unusual year. We also received pennission from the Bisliop to offer Communion Before Confimiation and, after a s110rt preparation course, two young members of the congregation were Admitted to Communion. As well as systematic Bible-based preaching in Sunday services, church members aiid the Incuinbent also support the local Chiirch of Eiigland Scliool as governors. The school has a distinctively Christian ethos, and the church endeavours to support tliat wlierever possible. In 2024. work continued to tie school worship more closely to the SIAMS curriculiim. Children feel empowered to take a lead in preparing ]d leading whole-school worship and class-based worship, and many of them enthusiastically volunteer to offer spontaneous prayer duringTr worship. In addition, during Lent we co-hosted Lent Lunches with the local Roman Catholic church which were opportunities to discuss the week's Gospel readiiig and learn more about each other.
3.c To respond to human need by loving service Throughout the year ihere are particular services that draw many from tlie community into the church. In 2024, at request of the British Legion, the Remembrance service was held in%ide for the second year ninning, after ali outdoor act of Remembrance. Although this probably reduces th¢ number of people who stay for the worsliip part of the event, it enables the Legioii to increase the value of the collection they receive, provides an opportunity for preachingi" and many who attend appreciate the chanbie. The cliurch is open every day for private prayer as well as for tourists (free of chargTe)" prayer requests cali be left on the prayer board and are included in Sunday prayers. The ministers meet and pray with individuals as requested and. on occasion, make referrals such as to the Foodbank, adult social services and emergency housing. The giovernors of Churchill School and the Inciimbent offer pastoral support to staff and pupils. The 14osey Tnist continues to make individual gyrants to meet the needs of current and past pupils lip to the age of 25. The clerLry visit the bereaved and take fiinerals - botli in the church and at local crematoria. 111 2024 we had 18 at-church funerals, memoTials w)d burials of aslies. I more than 202.3. We also conduct funerals at crematoria and cemeteries, but tliese are iiot recorded in the service regiisters. Tlie Pastoral Care Team has been very active, providing spiritual support, prayer and distributing communion to those from our congvregyations who are unable to attend church services due to ill health, as well as siipporting people iii the wider commiiiiity who are non-cliurchgoers. Silic¢ Jiily 2024 tl)is has beeii a Beiiefice team, seeking to support people in both parishes aiid witli volunleers drawn from both. In October, six Inembers of ihe Team completed the Caringi Concerns course delivered by the Diocesan Mission and Minisiry Team. Tlie Inciiinbent is, ex-officio. a trustee for the Westerham Almshouse Charity, providing accommodation for persons iii Iieed. The PCC supports ilie local Westerham Foodbank, with a full-time collection poini in the church and various members, includiiig one of the ministers, actively involved. The Harvest services, for the school and parisli, collected lots of donations for the foodbank. The church also gives away part or all of the offering at certain services, siich as Remembrance Day, December 2 St4nday (Christingle) and during Lent. and makes other appeals in response to events in the wider world. 3.d To transform unjust structures of society, to challenge violence of every kind and pursue peace and reconciliation Througyh preaching, being a Fairtrade Church and supporting charities to make the world a fairer place, we work towards this mark. Successful fundraising concerts for Ukraine and other causes are held in the church, organised by members of the wider community, and a fundraising event for Porchlight was organis¢d as an ecumenical effort by members of the church. We also hold some ethical investhients.
3.e To strive to safeguard the integrity of creation, and sustain and renew tbe life of the earth The PCC cares for tlie chuTchyard ]d has undertaken re-wilding of some areas. The liturgical season of Creationtide is celebrated annually. The Environmental Group was less active this year, but members continued to work towards securing a Silver Eco Churcli award and to higlliliglit environmental issues. Members of the congregations are also involved in coiiservatioii cliarities and wildlife gyroups. Work has beeii doiie on developin&J a plan to be carbon neutral by 2030. Our electricity is certified 'gyreen'. An environmental handbook is in preparation. Financial Review Church activities are fiinded by regular giving (mainly attracting gift aid), collections, donations, fees and investment income. Total income for 2024 decreased to £119,289 of whicli £34,897 was restricted fuiids. This compares to total income for 2023 of £130,581 of wliich £50,517 was restricted fiinds. General fund iiicoine in 2024 increased to £84,392 compared with £80.016 in 2023. Overall expenditure in 2024 was £120.552 of which £.35,810 was restricted funds, compared with £189,767 in 2023. Geiieral fuiid expeiiditure was £81,783, COillpiLd witli £100,962 iii 2023. This was driven rnosily by reduction in chiirch runiiingy expenses as ligyhting project has been completed and paid in 2023. Overall, there was a surplus oli gieneral funds of £2.608 compared with a deficit in 2023 of £26.946. St Mary's investmeiit lioldii)gys (details in iiote 3 of the financial statements) increased in value by £16,095 diiringy the year. Of this £9,069 related to restricied funds, £3,032 to designated fiinds and £3,515 to the yeiieral investmeiit value reserve Reserves policy The PCC has sei aside reserves in designated funds for the following pury)oses Over the years the trend has been for the church's investments to have risen in valiie. This year as last we sold some investments. This is not sustainable in il)e loiig tenn but despite not havingy a Treasurer, the PCC has made progress towards stabilising our finances.. some reduction in overheads and a greater focus oli fundraising, meant that we sold less than in 2023. The PCC believes it is prudent to maintain a reserve against future falls in investment values which are likely to occur from time to time. Accordingly, an investrnent value reserve exists. The main church buildiiigs are of an age and type that periodically major repairs will be Tequired. St Mary's is fortunate that the Westerham Heritage Trust, an indepeIident charity, raises funds wliicli may be available when major repairs are required. However, the PCC recognises the need to retain a reserve for contributing to such repairs. Tlie PCC believes that work with children and youth is an important part of its mission. A reserve has been established to support inajor initiatives in this field. This contributes to the Director of Music's salary, as part of his remit is to engage younger people.
Similarly, the PCC believes outreach both within the immediate community aiid in the wider world is part of St Mary's mission. A reserve has been established to support futur¢ initiatives in this field and again, some of the incomes from this contribiites to the Director of Music's salary. Administrative inforniation St Mary's is the parish church of the Parish of Westerham, which is part of the Benefice of Crockham Hill and Westerham. It is situated at ihe northeast corner of The Green in Weslerham, the correspondence addre&s being Benefice OITice, Si Mary's Church, The Green, Westerham. Kent TN16 1 AS. The registered charity number is 1133994. Details of those who have served as members of the PCC between the 2024 Annual Parochial Church Meetiiig ("APCM"), and the date of this report are showi on paLFe 2. Payments to and giving by members of the PCC Tlie total identified giving by Inembers of the PCC, while members, totalled £7,680 excluding Gift Aid recoverable. Other Funds Tliese funds are separate trust funds administered by the PCC and do not appear in the accounts. AppliLations for &Frants c7 be inade for specific lis¢ related to tlie purpose of the funds. W¢sterham Church of Eiigiland Religious Education Fund exists to support activities contributinLI to reliLrioiis ediication connected to St Mary's Churcli. Its assets at the year end totalled £.30,197.62. The Incumbent aiid chiirch wardens are the Trustees. A gyraiit of approximately £750 was made io fund Churcliill School yr6 pupils, trip to attend the Diocesan Leavers, Service at Rochester Cathedral. Westerhwn Hosey Fund supports pupils and fornier pupils of Churchill Chiirch of EnLyland Pn'inary School lip to the agve of 25. The Truslees are the Incuinbent, church wardei)s and two iioininated Trustees. Its assets at the year-eiid were £46,962.58 aiid £1439.68 was witlidrawn by the parish io cover gFr&its Inade in tlie previoiis financial yeaT. 111 2024 two )rltS were offered but only one, 01 £84.91. was claimed. This remained to b¢ drawn down at the eiid of ihe year. The Ralph Fund exists to provide help to tliose in need in the parish. It is managed by the Incumbent and chiirch wardens. Its assets at the year-end totalled £11,673.28. No payments were made during the year. St Mary's inanages ilie North Dowms Guild of Music fund. Its assets at the year-end ainouiited to £155,551. In 2024 the Guild pledged £3,000 to fund a perfomiance of Ahoy for the Mary Rose involving 100 local schoolchildren and professional perforniers. This money was still outstanding at the end of the year.
Independent Examiner's Report to the PCC of St Mary the Virgin Parish Church Westerham I report on the accounts of the PCC for the year ended 31 ' December 2024, which are set out on subsequent pages. Respective responsibilities of the PCC and the Independent Examiner As meinbers of the l)CC, you are respoiisible for the preparation of the accounts. You consider that an aiidit is not required for this year under Section 144(2) of the Charities Act 2011 ('the 20 I l Act,) wid that an independeiit examination is needed. It is my responsibility to Examine the accounts under Section 145 of the 2011 Act. Follow the procedures laid down in the general directions given by the Charity Coinmissioners under Section 145(5)(b) of the 201 l Act. and State whether particular matters have come to my atteniion. Basis of Independent F.xaminer's Report My exainii)ation was carried out in accordance with the General directions given by the Charity Commissioii. An examination includes a review of the accountingi records kept by the charity and a comparison of the accouiits preseiited with those records. It also includes consideration of ajiy unusiial items or disclosures in the accounts aiid seekingF explanations from you as Trustees concerningi any such matters. Tlie procedures undertaken do not provide all the evidence that would be reqiiired in a full aiidit, and coiisequently I do not express an audit opinion on the accounts. Independent Examiner's Statement In coiinection with my examination, no matters have come to my attention.. which gtrive me reasonable cause to believe that in any material aspect the requir¢mei)ts to keep accountinbi records in accordance with section 130 of tlie 201 l Act. or prepare accounts which accord willi ihese accounliiig records have iiot been met; or hich, in Iny opinion. atteiition sljould be drawn in order to enable a proper understanding of counts to be reached. to tlie Signed.. Brian Downs Downs & Co Chartered Certified Accountants 61 Croydon Road Keston BR2 6EH
ST MARY THE VIRGIN CHURCH, WESTERHAM Balance sheet at 31st December 2024 General Funds Designated Funds RestrRcted Funds Total 2024 Total 2023 FIXED ASSETS Investment assets 20.802 280,785 399,848 701,435 695.340 CURRENT ASSETS Short tenn deposits Cash at bank and in hand Amounts receivable 3,997 12,398 12.348 28,743 53,547 1.625 57.544 18.952 12,348 88,844 47,816 14,819 16,280 78,915 {5.071) (5,071) 65.172 CREDITORS (due withtn l year) Creditors (1,904) (137) { 2.041) (848) NETCURRENT ASSETS 26,839 (5.071) 65,035 86,803 78.067 NET ASSETS 47,641 275,714 464,883 788238 773A07 Approved by the PCC on the and signed on its behalf by Chairnian David Fox -Branch and Treasurer bru Walker
ST MARY THE VIRGIN CHURCIL WESTERHAM Statement of Finaneial Activities inc Income and Expenditu Account For ihe year ending 31$t De¢emb¢r 2024 General Designated Restricted Funds Funds Funds Total 2024 Total 2023 Incoming resources - page 10 Voluntary income Activitlcs for generating funds Income trom invcslrnents Church activities 54.011 8.527 16.947 4,907 26.444 80.455 8,527 25,258 5.049 95.776 8.736 22,414 3.655 8,311 142 Total incoming resources 84J92 34,897 119,289 130,581 Resources expended - page 11 Church activities (43.687) (2.959) (5.956) (52,602) (64.607) Church running expenses (34,350) (26.618) (60.968) (122.957) Fundraising expenditure (3.747) (3,236) (6,983) (2,203) Total resources expended (81,784) (2,959) (35,810) {120.553) (189,767) Net incoming resources 2,608 (2,959) (914) (1,264) (59,186) Net gain on investments 479 6,547 9.069 16.095 58.616 Net movement on funds 3,087 3,588 8,155 14,831 (570) Balances brought forward 44,555 272,127 4.56,726 773,407 773,977 Balances carried forward 47,643 275,715 464081 788238 773,407 io
ST MARYTHE VIRGIN CHURCH, WESTERHAM Notes to the Financial Statements year eliding 31 December 2024 INCOMING RESOURCES Gener Funds Designated Restricted Endowmenl Funds Funds Funds TotAi 2024 Total 2023 Voluntary Income Planned gyivinglgift aid 38.848 38.848 28.118 Income tax recoverable ColleclionslEPO 6,374 6.374 4,590 Visiiors and other giving 6,912 6.912 5.709 Grants 16.002 16.002 42,372 Donations 1,877 7.382 9,259 5,837 Le8acies 1,000 Choir and bell ringers 2.060 80,455 2,150 95.776 54.011 Activities for Generating Funds Fundraising events Bookstall 8,517 io 8,517 10 8,710 26 8,527 8,527 9,095 Ineome from Investments Dividends and intere51 16,947 8Jll 8,311 25,258 22,414 16,947 21414 Church Activilies Fees for weddings and funerals Sundry income 2,543 2.364 142 2.685 2,364 5.049 2,778 877 4907 142 3ffiSS Total Intoming Resource5 84,392 34.897 119,289 130,581 li
ST MARY THE VIRGIN CHURCH, WESTERHAM Notes to the Financial Statement5 year ending 3 1st December 2024 General Designated Restrieted Funds Funds Funds Endowmeni Total Funds 2024 Toial 2023 RESOURCES EXPENDED Church Activities Missionary and Charitable giving Outreach Expenses (2.959) (2.959) {159) (31.675) (45.851) (6.249) (4,014) (9.890) {11,537) (1.829) (3.046) Contribution to diocese {31,675) (6.249) (3,93S) (1.829) Vicar's fAnd Vicarage expenses Organ and Choir (incl bell funds) Other costs (5,956) Church Runnin8 Expenses Parish office (3.327) (305) (10,.181) {4,884) (9,9.$9) 15,382) (3,327) (4,3511 (3.$0) (7) (10.381) {10.315) {4,884) (4,798) (9,9S9) {15.157) (5,382) (8,428) Church cleaning Staff remuneration Insurance Heal and light Repairs and mainienance Churchyard expenses Repair Projects (9,494) (17,124) {9,607) (8,154) (17,124) (71,7471 Other resources expended Fundraisingv and booksrall Total resources expended IY I.-YIJI 12
ST MARY THE VIRGIN CHURCH, WESTERHAM Notes to the Financial Statements For *he year ended 31, December 2024 Accounting policies a) The fiijancial statements have been prepared under the Charities Act 2011 and in accordance with the Chiirch Accounting Regulations 2006 together witli FRS 102 and Statement of Recommeiided Practice 'AccountingF and ReportingF by Charities,. The statements have been prepared under the historical cost coiivention except for the value of investrnent assets whicli are shown at fair valiie. They are prepared on tlie going concern basis. Incoming resources are included wlien receivable. Liabilities are recognised when the obligation arises b) The funds held compris¢ unrestricted funds repTesentingy the remaininbF income funds of the chiwcli together with funds desiLinated by the PCC for particular purposes. and restricted funds Comprising eiidowment fuiids thai must be retained as church capital and income funds which can only be spent on restricted purposes. c) Consecrated and beneficed property of any kind is not included in the financial statements in accordance witl) Ihe Cliwities Act 2011. This includes all fixtures and fittings in the chiirch biiildings. d) Investments are valued at market value as at 31" December 2024. Incumbent stipend and parish offer Tlie Iiicumbent's stipend and pension cost are paid by the Diocese of Rochester. Tlie diocese also incurs otlier costs which are borne by parislies throiigh a chargFe traditioiially known as'parish share,. This includes a sliare of the overall cost of ruiining the diocese and providii)gi services such as legFal advice, of supportingT Ininistry in parishes that cannot pay the full cosi of their ministers, and of mission activity across the diocese. From 2015 the Di¢xese of Rochester introduced a new system whereby parishes made an annual 'offer' to cover all these costs. In 2024 the PCC felt it prudent to accept a Diocesan scheme to cap the offer for twelve months, reducing? it from £45,775 in 2023 to £31,674 in 2024. This covered the cost of having a full-time minister in the benefice but did not contribute towards ihc wider mission of the diocese or the support it gives to parishes. Tlie PCC resolved to increase the offer if funds became available but they did not. 13
ST MARY THE VIRGIN CHURCH, WESTERHAM Notes to the Financial Statements For the year ended 31" December 2024 Investments The main Church, Churchyard and NDG investments are held in CBF Investinent Fund shares. The gain/loss on revaluation of the Cliurch holding has been allocated to the various funds (endowrnent, designated and ieiieral) according to tl)e relative proportions of those funds. The investhients in M&G Charifund are all allocated to general funds. Even tliough some shares were withdrawn, Ihe gain in investrnent values means that the value of all investments was £6095 higher at year end than at the start. CBF Shares CBF shares North Downs M&G Churth Churehyard Guild of Music Chayifund Total Value on 3 1st December 2023 Sold during year 4$2.319 89,160 121,507 32.353 695J40 442,319 89.160 121.507 32,353 685J40 Gain on valuation during 2024 Value at 31 st December 2024 10.430 2,041 2,781 843 16,095 452,749 91,201 124.288 33,196 701,435 14
ST MARY THE VIRGIN CHURCH, WESTERHAM Notes to the Financial Statements For the year ended 31" December 2024 Funds The inovements in individual funds in the year are ShOTr below Forward Income 2023 Expenditure GainlLos8 Transfer At end 2024 Restricted funds Church endowment Churchyard cndowment 180,111 4,247 184,358 89,161 2.041 91,202 NDG ¢ndowment Legacie5 Bellringers Choir Churchyard Deposits North Downs Guild cash 121.507 25,000 3.054 2,114 16.783 2.781 124.288 26,000 3.069 i.Ix)o 1.150 910 6.312 (1,135) (9.494) 13,601 26,449 4.813 (3.236) 28.026 Organ repairs Repair projects 5.386 (4.821) 565 17 4$?! { 17 1?$) (9.2501 34097 l JiblLII 9,069 464,883 Designated funds Investment value reserve Major repairs Children and youth Outreach 149,076 39.909 40.287 42.854 272,126 3.515 1.021 973 1,038 6,.547 152,591 40,930 39,510 (1.750) 275,714 General Fund 44,553 84J92 480 47,641 The endowment funds represent sums held as capital for the respective purposes. The other funds comprise income less expenditure incurred for the specified purposes. Of these, EPO funds are those collected specifically to donate to various charities 15
ST MARY THE VIRGIN CHURCH, WESTERHAM Notes to the Financial Ststements For the year ended 31 December 2024 Going Concern The PCC agreed that the financial statements should be prepared on the going concern basis but it had previously been noted that income has not returned to pre-covid levels, and a year-on-year deficit was being run. For most of 2024, the position of Treasurer was vacaiit which limited the PCC'S ability to respond and plan to a challeiigingy financial situation. It was necessary to draw on investments to meet running costs once again, althougih much less heavily th7 in 2023. Although there are substantial investmeiits. drawing oli these to cover shortfalls risks reducing the financial susiaiiiability of the parish across time. Oi) a rnore positive note, expenses were reduLed in 2024 COmP<ired to 2023. This was in part due to rediiced capital expendittire but even wheii that was allowed-for, church runningy costs were approximately £19,400 lower than in 2023. This is thanks largely io a reduced contribution to the diocese and rediictions in enerby costs - from lower rates and the benefits of the new lighting system - and reduced otrice expenses. Incom¢ was also r¢duc¢d althou&yh, again, this is larbyely diic to a reduction in grants rec¢ivcd in respect of Capital projects (gyrant income in 2024 was £16,000 compared to £42,300 in 2023). When gryants for capital works were taken into account, income in 2024 was higiher than in 2023. Planned byiving. collections, iiiconie from visitors and other donations were all up. Witli all incoinc and expenditure taken into account, the deficil was reduced from just under £60,000 in 2023 to just over £l.000 in 2024. Tlie PCC recognises tliat the financial situation will continue to be challengingF, and has resolved to continue to seek opportiinities io enhance efficiency whilst maximisingi income gieneration opportunities througli graiTrts providiiigT revenue fundtngy, and hibiher use of the church biiildingys for cominunity events. 16