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← The Parochial Church Council Of The Ecclesiastical Parish Of St Stephen`s, Shottermill

2024-12-31-accounts

St Stephen's Shottermill

Annual Financial Statements of the Parochial Church Council

for the year ended 31st December 2024

(Registered charity number 1134016)

Bankers

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

Independent Examiner

Mr David Sanders BA (Hons) FCA BFP Sheen Stickland The Engine House 77 Station Road Petersfield Hampshire GU32 3EL

ST STEPHEN'S SHOTTERMILL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

INDEX
Page
Annual Report 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to Financial Statements 11 to 20

ST STEPHEN'S SHOTTERMILL ANNUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024

The Members of the Parochial Church Council (PCC) present their report together with the financial statements for the year ending 31st December 2024. The members of the PCC have adopted the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.

Aim and Purposes

St Stephen's Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent, or wardens during a vacancy, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of the Church and associated buildings of St Stephen's Church, Shottermill, Haslemere.

Objectives and Activities

The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St Stephen's. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

When planning our activities for the year, we have considered the Charity Commission's guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through:

Achievements and Performance

Worship and prayer

The PCC is dedicated to offering a range of services during the week and over the course of the year. These include: Sunday worship services, midweek pre-school groups, after school kids and youth groups, prayer gatherings, community lunches, community events, eco days, special seasonal events, short courses, weekly groups for adults, school services and assemblies, services & communion in the local care homes, pastoral care (including home visits), funerals and weddings. Our church buildings have been open, and the average number of worshippers are steadily increasing and almost at 2019 (pre-pandemic) levels. We continue to stream some Sunday services online.

Page 1 of 20

ST STEPHEN'S SHOTTERMILL ANNUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024

All are welcome to attend our regular services. At present there are 90 parishioners on the Church Electoral Roll, 48 of whom are not resident within the parish. The average weekly attendance, across the year was 80 adults and 11 children. Our 'worshipping community' is much larger and incorporates the local primary schools who join us for Harvest, Christmas and Easter services. We also take termly school assemblies. Our activities also include a monthly prayer and worship evening (Embers), a weekly Noah's Ark group with kids praise (parents and pre-school children), seasonal gatherings for our ‘Seniors’ group (Prime Time) and various other gathering and fundraising events in the Church.

As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. Through baptism we thank God for the gift of life, in marriage public vows are exchanged with God's blessing and through funeral services friends and family express their grief and give thanks for the life which is now complete in this world and to commend the person into God's keeping.

Vicar, Curate and Ordinands

Rev Tim Radcliffe, has served as our Vicar since June 2023.

The Rev John Baxter has a permission to officiate (PTO) at Stephen’s and provided cover for Tim, when he took his annual leave.

Louisa Mason LLM (Licenced Lay Minister) was ordained as a Deacon in July 2024. She is now serving her curacy at Elstead, Shackleford and Peper Harow. We are so grateful for her ministry at St Stephen’s and wish her all the best for her curacy.

Alan Thain and Sarah Weldon continue to serve as Licensed Lay Ministers (LLMs).

Deanery Synod

Two members of the PCC, Fiona Short and Jean Leston, sat on the Godalming Deanery Synod during the year. This Deanery Synod provides the PCC with an important link between the parish and the wider structures of the church.

The Church and Associated Buildings

General ongoing maintenance is budgeted to come from general church funds and we have to repair and maintain all our properties: The Church, The Church Rooms of St Stephen's (CROSS), Glover's House Flats 2 and 3 and the 'curate’s house' in Sunvale Avenue. The total cost during 2024 was £42,135 (2023 £40,819). Significant items during the year were:

Church - £11,994 masonry repointing . CROSS - £5,600 window replacement. Sunvale - £3,200 bay window replacement. Flat 2 - £4,696 new gas boiler, oven and hob.

Redevelopment – Further consideration has been given to our plans to redevelop the Church and the Cross. Rev Tim has worked with the PCC this last year, to agree the 1[st] priority is to improve the Church Hall (the Cross). Taking a phased approach, phase 1 will involve new lighting and refurbishment of the Hall itself. Phase 2 will seek to look at improving accessibility to the building and improving the toilets. Phase 3 will seek to improve the kitchen and potentially increase the space and capacity of the building. Phase 3 is still to be agreed and will be done alongside the potential opportunities in the Church building itself. Work was carried out during the year to make safe and improve the outside climbing frames and garden areas.

Page 2 of 20

ST STEPHEN'S SHOTTERMILL ANNUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024

Pastoral care

St Stephen’s continues to provide pastoral care to the community through trained pastoral assistants, clergy visits and school’s work. A team of volunteers also administers communion in local care homes. The church has a pastoral team headed by a trained counsellor that meets monthly and includes three Diocesan trained Pastoral Assistants.

Evangelism

St Stephen’s continues to place high importance on evangelism and making a difference both locally and globally. We have worked hard to “bridge the gap” between Church and the Community, finding different ways to make connections within the parish and further afield. This has included a mixture of activity such as a community lunch (monthly), Alpha course for those interested in exploring faith, Tearfund Quiz night, Ceilidh, Roaming Nativity and hosting services for local schools.

The church continued to give financially to external partners most of which were registered charities. Further details can be seen in the Financial Review Local and Global Partnership Team section.

Ecumenical Relationships

St Stephen’s works closely with other local churches through community service events such as youth work and a ministers’ network.

FINANCIAL REVIEW

Examination of Accounts

Under the Charities Acts, St Stephen’s Shottermill PCC is a registered charity (number 1134016) and with an income of over £250,000 in either of the last two years is required to have its Accounts examined by an independent professionally qualified accountant.

The 2024 Annual Financial Statements of the Parochial Church Council (‘the Accounts’) were prepared by the Treasurer and the independent examination was carried out by Sheen Stickland, Chartered Accountants, 77 Station Road, Petersfield, Hampshire GU32 3FQ.

Assets

The church and surrounding land including the graveyard are not shown as an asset in the Accounts as they are registered in the name of the Diocese and not the PCC.

Leases of Glover’s House Flats 2 & 3 were acquired by St Stephen’s many years ago. Both Flats 2 & 3 are let on a commercial basis. The flats were revalued during the 2023 and the current market value of £430,000 as shown on the Balance Sheet is accepted as realistic by the PCC.

The parish also owns the freehold of a residential house at 33 Sunvale Avenue (known as 'the curate's house'). The PCC accepts the current realistic market value is around £550,000.

The PCC arranges and pays for Employers Liability and contents insurance on both the Church and the CROSS, and pays buildings insurance on 33 Sunvale Avenue directly, and for Glovers House flats via its management company.

The Log Cabin and Storage Sheds were treated as additions during 2018 at their cost of £29,786 and depreciated over their expected life of at least ten years. During 2021 the old AV System was replaced at a cost of £5,250; this enables online streaming of selected services to reach a wider audience.

Page 3 of 20

ST STEPHEN'S SHOTTERMILL ANNUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024

Income

Voluntary income

Voluntary income from donations excluding gift aid was £133,429 (2023 £118,635) which included Special Projects designated giving of £29,991 (2023 £29,806). Income, excluding Special Projects, shows an increase of 16% (2023 -2%) year on year. Income of course is not guaranteed and can fluctuate for many reasons not least of which are people moving away, unemployment, illness, retirement, and new people moving into the area. Quarterly updates are provided to the congregations showing total actual income against budget figures. Finances are discussed regularly at Standing Committee and PCC who review how best to manage our Stewardship activities to further enhance giving from the congregation.

Gift Aid

The Treasurer and Churchwardens continue to ask all givers who are taxpayers to sign a Gift Aid Declaration. Gift Aid allows us to reclaim the income tax already paid to HMRC and is worth 25% of gift aided donations received by the church.

During 2024 Gift Aid amounted to £31,426 (2023 £27,372) which included £1,532 (2023 £360) from HMRC's Gift Aid Small Donations Scheme (GASDS).

Some regular and one-off donations are made via employment (GAYE) or from CAF, Stewardship or private trusts – all of which are received ‘gross’ so gift aid and tax reclaims are not involved.

Other income

Other income includes rent from the commercially let Glover’s House Flat 2 £9,600 (2023 £9,150), Flat 3 £10,800 (2023 £10,800), 33 Sunvale Avenue £22,200 (2023 £19,050) and CROSS hall hire £106 (2023 £7,410). Cross hall hire income from Rainbow Nursery ceased in August 2023 with the nursery’s closure (2024 £nil; 2023 £7,410; 2022 £11,115).

Expenditure

Charitable Activities

Charitable Activities totalling £198,212 (2023 £190,560) are broken down into Ministry Expenses £135,472 (2023 £119,422) and Property Expenses £62,740 (2023 £71,118) to give a better understanding of the great variety and nature of expenditure by St Stephen’s.

Parish Share

Parish Share paid was £67,779 (2023 £64,100). As a reminder, Parish Share is our parish’s annual contribution to Guildford Diocese. As well as covering the vicar’s salary and pension contributions (stipend) and vicarage (accommodation), plus any curate’s stipend (but not accommodation), the parish share contributes towards the running of the Diocese and indirectly helps those parishes less fortunate and numerically strong as ourselves. Guildford Diocese is particularly strong in offering subsidised training for ordinands, local ordained ministry, licensed lay ministry, pastoral assistants, worship leaders, occasional preaching, communion assistants – to name but a few and most of which we take advantage of. During 2024 Parish Share was paid at 77% (2023 75%) of the requested amount.

Page 4 of 20

ST STEPHEN'S SHOTTERMILL ANNUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024

Expenditure Detail

Expenditure on charitable activities as a whole was £198,212 (2023 £190,560). Main one-off items of maintenance on property assets are shown in this report above under 'The Church and Associated Buildings'.

Local and Global Partnership Team

The PCC delegates its outward giving to a PCC sub-committee whose members are drawn from both inside and outside the PCC. The church aims to give a minimum of 10% of its voluntary unrestricted income (excluding designated income), including Gift Aid, allocated by the committee to a range of Christian and secular charities and for projects based locally, nationally and overseas. During 2024 £13,000 (2023 £11,997) was given in the form of gifts and donations.

Other Outward Giving

During 2024 the church made donations out of its income for special causes from time to time, for example at Harvest (Tearfund) and Christmas (Home Start, CRY). In addition, occasionally collections are taken as leaving presents for members moving away or as fundraising for a particular cause, appeal or charity. In all these cases monies are treated as ‘special collections income and payments’ in the Accounts.

It is worth remembering that we also expend money on a number of causes and projects which are outwardly directed but which are not directly classified as outward giving by St Stephens. Examples of this would be significant parts of the children and youth ministries.

The CROSS (Church Hall)

As shown in note 14.2 to the Accounts, if measured on a standalone basis the CROSS shows a deficit of £15,872 (2023 deficit £5,531). Rent from Rainbow covered the majority of outgoings and was designed to broadly reflect the costs associated with that building and the proportion of time utilised by the Nursery School; also, with the school occupying the CROSS every weekday this made the hall unavailable for other outside hire. The Nursery School closed on 21[st] July 2023; previous income was: 2023 £7,410; 2022 £11,115. The PCC replaced most of the old windows with modern sealed unit uPVC windows at a cost of £5,600 during 2024. The intention is to modernise the hall during 2025 by replacing the lighting, soft furnishings, and redecorating, after which the objective is to generate income from hall hire.

Rainbow Nursery Pre-school

It was with reluctance the PCC had no other option but to close Rainbow at the end of summer term in July 2023. Although Rainbow had an excellent reputation and was a well-loved community asset it was not possible to recruit both a manager and assistant manager without whom the nursery could not operate legally and safely. Income and expenditure was consolidated with the church and the totals shown in notes 3.4 and 4.3 to the Accounts under ‘other income’ and ‘other expenses’, and in note 14.1 to the Accounts. In 2023 Rainbow paid the church £7,410 (2022 £11,115) for renting the CROSS five days a week during term time; rent included electricity, gas, water, some cleaning and WC supplies, use of photocopier and some admin help. The PCC aims to replace this income stream after the CROSS refurbishment mentioned above.

Page 5 of 20

ST STEPHEN'S SHOTTERMILL ANNUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024

Funds

Note 13 to the Accounts contains full details of all the church funds. No restricted income was received during 2024 or 2023. The restricted Organ Fund has £1,734 remaining. The designated Special Projects fund has £136,372 in hand which includes during 2024 gifts totalling £18,250 given with the suggestion, without being a restriction, that they could contribute towards additional staff employment which started in September 2024.

Reserves Policy

The PCC acknowledges the church is dependent on the Lord and the support of its members and congregations and considers it unnecessary to maintain substantial free reserves. However, it is prudent to maintain the balance on General Fund at a level sufficient to cover day-to-day running expenses of at least three months and this is PCC policy. At the Balance Sheet date free reserves were £121,943 (2023 £128,045),

ADMINISTRATIVE INFORMATION

Structure, Governance and Management

The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a Registered Charity, number 1134016.

The method of appointment of PCC members is set out in the Church Representation Rules. At St Stephen's membership of the PCC consists of the incumbent (our vicar), churchwardens, curate, LLMs registered to St Stephen’s, and members elected by those of the congregation who are on the electoral roll of the church. All those who attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. New members receive initial training into the workings of the PCC. The full PCC met 6 times during the year; the PCC appoints a treasurer annually and authorises members of the Standing Committee to deal with Church affairs in between meetings.

Location

St Stephen's Church is situated in Shottermill, Haslemere. It is part of the Diocese of Guildford within the Church of England. The correspondence address is: The Church Office, St Stephen's Church, Church Road, Haslemere GU27 1NS. Registered charity number 1134016.

Page 6 of 20

sr STEPHEN'S SHOTfERMILL ANNUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024 PCC MEMBERSHIP PCC members who have served at any time from 1st January 2024 until the date this report was approved are: Role Name Position Stand Down Vicar Lay Reader/LLM Lay Reader/LLM Churchwarden/ Layvice Chair Churchwarden Churchwarde Deanery Synod Rep Deanery Synod Rep Treasurer PCC Secretary Member Member Member Member Member Member Member Member Member Rev rim Radcliffe°# Alan Thain Sarah Weldon Peter Soar# Donna Rigby# Maura Howard Jean Leston Fiona Short Noel Fairbairn Julie Fox Val Porteous Bill Kenned Jlll Soar Jirn Honeywood Simon Burchell Nicky Lee Jane Saunders Jane Harding Robert Noble Alisdair Walker Marlon Nolan Penny Goddln Ex officio Ex officio Ex officio Ex-ofFIcio Ex-officio Ex-officio Elected (DSI Elected (DS) Co-opted Co-opted Elected (PCCI Elected (PCC) Elected {PCC} Elected {PCC) Elected {PCC) Elected (PCC) Elected (PCCI Elected (PCCI Elected (PCC) Elected (PCC} Elected (PCC) Elected {PCC) Annually Annuall 2024 2027 2027 Annually Annually 2024 2024 2024 2025 2025 2025 2026 2026 Resigned July 2024 2027 2027 2027 Member Member Member *Members of the Standing Committee of the PCC at 31 December 2024

All members of the PCC are trustees of the charity. the vicar and churchwardens as managing

trustees are registered with the Charity Commission. Approved by the PCC on of the PCC. and signed on their behalf by layvice-chairman Peter Soar- Churchwarden Page 7 of 20

INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PCC OF ST STEPHEN'S SHOThERMILL I report to the members of the PCC on my examination of the accounts of the PCC for the year ended 31st December 2024 which consists of the Statement of Financial Activities. the Balance Sheet and notes to the accounts pages 9 to 20. Respective responsibilities of the PCC and the Examiner As members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Church Accounting Regulations 20061"the Regulations") and the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(51{b) of the Act and to be found in the Regulations. The members of the PCC consider that an audit is not required for this year under section 14412) of the Act and that an independent examination is needed. Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because l am a member of the Institute of Chartered Certified Accountants in England and Wales which is one of the listed bodies. Independent Examiner's Statement In have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that, in any material respect.. 111 accounting records were not kept in respect of the PCC as required by section 130 of the Act; or {21 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. Mr David Sanders BA (Honsl FCA BFP Chartered Accountant Sheen Stickland The Engine House 77 Station Road Petersfield GU32 3FQ Date: Page 8 of 20

ST STEPHEN'S SHOTTERMILL PCC STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st DECEMBER 2024

Notes
INCOME AND ENDOWMENTS
3
Donations and legacies
3.1
Charitable activities
3.2
Other trading activities
Investment income
3.3
Separate material item of income:
Other income
3.4
Total
EXPENDITURE ON
4
Raising funds
4.1
Charitable activities
4.2
Separate material item of expense
Other expense
4.3
Total
NET INCOME
Gains (losses) on investments
Extraordinary items
Transfers between funds
NET MOVEMENT IN FUNDS
Reconciliation of funds:
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
Restricted
Endowment
Total this year
Total last year
Funds
Funds
Funds
2024
2023
£
£
£
£
£
164,855
0
0
164,855
156,007
1,778
0
0
1,778
13,597
0
0
0
0
0
48,499
0
0
48,499
42,594
5,129
0
0
5,129
88,467
220,261
0
0
220,261
300,665
0
0
0
0
0
198,212
0
0
198,212
190,560
0
0
0
0
84,359
198,212
0
0
198,212
274,919
22,049
0
0
22,049
25,746
0
0
0
0
50,000
0
0
0
0
0
0
0
0
0
0
22,049
0
0
22,049
75,746
1,216,266
1,734
0
1,218,000
1,142,129
1,238,315
1,734
0
1,240,049
1,217,875

Page 9 of 20

ST sfEPHEN'S sHo￿ERMIlL PCC BALANCE SHEEf AT 31st DECEMBER 2024 Notes Unrnstricted Rostii¢t Fund¥ Funds Endowrn•nt 31st Decèmber 31st D•¢ombor Funds 2024 2023 FIXED ASSErs Tanglbb assets 988.938 991,916 Total FIX￿ Assets 988.938 991,916 CURRENT ASSETS Debtors & prepa￿0nts 10 10.339 10.339 12,081 C8sh at bgnk 245.745 247,479 Total Curr•nt A88 256.084 2S7.818 234,947 CUFiRENT LIABILrriES Crodilcqs & accruals: amounts faling dug ￿￿thIn on& year 11 6.707 6,707 8,988 Net Currènt Assèts 249,3TI 1,734 251,111 225.959 Total As80ts less Current Llabllltles 1.238,315 1240.049 1317￿75 Credltorn: amount falling due after ono ￿r Provl$lons for Ilabilrties & charges NEf ASSETS 1,238,31S 1,734 1,240,049 1.217.875 rnpr888ntsd by. FUNDS OF THE CHARITY 13 General ￿nd D￿Ignated funds Reslricled Income funds Endo￿n￿nI funds 121,942 1.118,373 121,942 1,116,373 1,734 128,045 1.088,096 1,734 TOTAL FUNDS 1238,315 1,240,Q49 Slgned by two Irusto•s on behall of al th• trust•OB: Peter Soar- Churchwarden Donna hurchwarden Page 10 of20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

Note 1 Summary of significant accounting policies

a) General information and basis of preparation.

The PCC is a registered charity in England. The nature of the charity's operations and principal activities are shown in the annual report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) the Charities Act 2011, and UK Generally Accepted Practice.

The charity has taken advantage in the provisions in the Charities SORP for smaller charities, not to prepare a statement of cash flows.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity. Where a different or additional policy has been adopted then this is detailed in the notes below.

INCOMING RESOURCES

Recognition of incoming resources . These are included in the Statement of Financial Activities (SOFA) when:

Page 11 of 20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

Incoming resources with related expenditure . Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.

Grants and donations . Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax reclaims on donations and gifts . Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Gifts in kind . Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts of assets are included at market value.

Donated services and facilities . These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer help . The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Investment income . This is included in the accounts when receivable.

Investment gains and losses . This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

EXPENDITURE AND LIABILITIES

Liability recognition . Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance costs . Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

ASSETS

Tangible fixed assets for use by charity . These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or a reasonable value on receipt.

Investments . Investment assets are included at trustees’ best estimate of market value.

Depreciation . Leasehold and freehold properties are not depreciated. Office equipment is fully depreciated over three years. Fixtures and fittings are fully depreciated over ten years or the life of the asset if less.

Page 12 of 20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

Note 3 Income; all funds consolidated

3.1 Donations and legacies
Donations - CAF, GAYE & trusts
Donations - gift aid monthly
Donations - no gift aid monthly
Cash collections
One off gifts - gift aid
One off gifts - no gift aid
Legacies
Tax recoverable
3.2 Charitable Activities
Cross hall hire
Service fees
Special collections income
Special Projects activities
3.3 Investment Income
Bank interest
Glovers House Flat 2 income
Glovers House Flat 3 income
33 Sunvale Avenue
3.4 Other Income
Rainbow fee income
Rainbow other income
Donations for Rainbow assets
Guildford Diocese energy grant
Congregation Energy Appeal
Church Grant towards Mission
Other income		 £
£
3,362
89,142
6,942
3,307
28,760
1,916
0
31,426
164,855
106
396
1,067
209
1,778
5,899
9,600
10,800
22,200
48,499
348
0
0
0
0
4,000
781
5,129
220,261
2024		 £
£
6,200
75,749
5,088
2,198
28,110
1,290
10,000
27,372
156,007
7,410
1,750
4,281
156
13,597
3,594
9,150
10,800
19,050
42,594
77,966
588
1698
1,000
5,215
2,000
0
88,467
300,665
2023		 £
£
6,200
75,749
5,088
2,198
28,110
1,290
10,000
27,372
156,007
7,410
1,750
4,281
156
13,597
3,594
9,150
10,800
19,050
42,594
77,966
588
1698
1,000
5,215
2,000
0
88,467
300,665
2023
300,665

Page 13 of 20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

Note 4. Expenditure; all funds consolidated

4.1 COST OF RAISING FUNDS
Stewardship costs
4.2a MINISTRY EXPENSES
Parish Contribution to Diocese
Salaries & NIC
Youth & Children's Pastor
Pre-Shool Pastor
Church Administrator
Pension contributions
Payroll bureau
Personal Expenses
Vicar
Pastors
Parish Ministry
Church Services
Worship & music group
Publicity & website
Clergy fees
Speakers fees, gifts, travel
Upkeep of Service
Community Outreach
Community resources
Social & Hospitality
Youth & Children's work
Noah's Ark
Breakout
Rainbow pre-school
Liquid Youth
Training, books & resources
Training, books & materials
Ordinand training grants
Training - courses, accom & travel
Books and resource materials
Mission & Giving
Special collections payments
Home
Overseas
Church Office
Office telephone
Office sundry costs
Copy costs and paper supplies
Bank charges
Postage & carriage
Stationery & office equipment
Computer expenses & software
Staff recruitment & DBS checks
Independent Examiner fee
Depreciation of assets		 £
£
0
67,779
9,240
2,767
20,990
889
623
34,509
373
214
587
2,186
701
0
79
1,892
4,858
379
2,047
2,426
0
919
0
0
93
1,012
0
576
342
918
1,067
3,250
9,750
14,067
638
29
872
60
46
232
2,476
305
1,680
2,978
9,316
135,472
2024		 £
£
0
64,100
0
0
22,276
608
559
23,443
300
0
300
517
438
0
0
1,346
2,301
0
817
817
0
252
1,054
0
1,306
0
614
71
685
4,281
3,142
8,855
16,278
593
0
789
61
71
207
1,528
795
1,440
4,728
10,212
119,442
2023		 £
£
0
64,100
0
0
22,276
608
559
23,443
300
0
300
517
438
0
0
1,346
2,301
0
817
817
0
252
1,054
0
1,306
0
614
71
685
4,281
3,142
8,855
16,278
593
0
789
61
71
207
1,528
795
1,440
4,728
10,212
119,442
2023
119,442

Page 14 of 20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

Note 4. Expenditure (continued); all funds consolidated

4.2b PROPERTY EXPENSES
Church Property Expenses
Repairs & maintenance
Architect's fees
Cleaning
Electricity
Gas
Water
Insurance
CROSS Property Expenses
Electricity
Gas
Water
Insurance
Cleaning
Repairs & maintenance
Other Property Expenses
Flat 2
Flat 3
Vicarage
Sunvale - repairs & maintenance
4.3 OTHER EXPENSES
Rainbow admin, fees, training
Rainbow equipment, materials, stationery
Rainbow food and milk
Rainbow salaries, NIC and payroll costs
Rainbow - other expenses		 £
£
16,375
0
1,565
2,357
4,240
242
2,348
27,127
1,552
1,579
849
1,565
1,941
8,492
15,978
7,905
3,638
2,367
5,725
19,635
62,740
0
0
0
0
0
0
2024		 £
£
10,712
1,161
1,560
1,898
8,857
108
2,277
26,573
1,944
2,937
1,572
1,455
3,111
1,922
12,941
17,612
1,323
3,419
9,250
31,604
71,118
796
1,301
5
70,856
11,401
84,359
2023		 £
£
10,712
1,161
1,560
1,898
8,857
108
2,277
26,573
1,944
2,937
1,572
1,455
3,111
1,922
12,941
17,612
1,323
3,419
9,250
31,604
71,118
796
1,301
5
70,856
11,401
84,359
2023
71,118
796
1,301
5
70,856
11,401
84,359

Page 15 0f 20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

Note 4 Expenditure (continued); all funds consolidated

EXPENDITURE SUMMARY
4.1 Cost of Raising Funds
4.2 Charitable Activities
4.2a Ministry expenses
4.2b Property expenses
4.3 Other Expenses
Total expenditure
5. SUPPORT COSTS
Total support costs
6. DETAILS OF CERTAIN ITEMS OF EXPENDITURE
6.1 Trustee Expenses
Details of the amount of any payment or reimbursement of out-
of-pocket expenses made to trustees or to a third party for
expenses incurred by trustees.in the performance of their duties.
Number of trustees who were paid expenses
Vicar
6.2 Independent Examination fees
Independent Examination fees		 2024
2023
£
£
0
0
135,472
119,442
62,740
71,118
198,212
190,560
0
84,359
198,212
274,919
2024
2023
£
£
0
0
2024
2023
£
£
1
1
373
300
£373
£300
2024
2023
£
£
£1,680
£1,440

Page 16 of 20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

7. PAID EMPLOYEES

7.1 Staff Costs

PCC
Wages & salaries
Employer's NIC
Employer's pension contributions
RAINBOW
Wages & salaries
Employer's NIC
Employer's pension contributions		 2024
2023
£
£
32,572
20,678
425
1,598
889
608
33,886
22,884
0
68,214
0
163
0
1,786
0
70,163
£33,886
£93,047

No employees received total employee benefits of more than £60,000

7.2 Staff Numbers

Average number of employees engaged in each of the following activities:

Fundraising
Charitible Activities
Governance
Rainbow		 2024
2023
0
0
1
1
0
0
0
5
1
6

8. GRANT MAKING

None.

Page 17 of 20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

9. TANGIBLE ASSETS

1st January 2024 b/fwd
Additions
Revaluations
Disposals
Depreciation
31st December 2024 c/fwd		 Leasehold
Freehold
Office
Fixtures and
Total
Property
Property
Equipment
Fittings
£
£
£
£
£
430,000
550,000
0
11,916
991,916
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,978
2,978
430,000
550,000
0
8,938
988,938

The PCC owns the leasehold of Glovers House flats 2 & 3; both flats are let at a commercial rent. Flat 2 bathroom and electrics were totally refurbished in 2023, after which a valuation was obtained, which resulted in a market value uplift of £50,000 for both flats. The historical cost of the leasehold property is £260,000.

The PCC also owns the freehold of 33 Sunvale Avenue, Haslemere, Surrey GU27 1PJ which is used by curates when training in the parish, but during 2024 was let at a commercial rent. All properties have been revalued in the past three years and the PCC are satisfied this is still a reasonable guide to current market value.

The two leasehold flats and the freehold house are investment assets of the parish, however their actual use changes from time to time with a combination of accommodation for a curate, accommodation for church employees, and commercial lets.

10. DEBTORS AND PREPAYMENTS

10. DEBTORS AND PREPAYMENTS
Recoverable Gift Aid
Prepayments and accrued income
11. CREDITORS AND ACCRUALS
Amounts falling due within one year
Accruals and deferred income		 2024
2023
£
£
5,905
6,589
4,434
5,492
10,339
12,081
2024
2023
£
£
6,707
8,988
6,707
8,988

12. TRANSACTIONS WITH RELATED PARTIES

None

Page 18 of 20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

13. SUMMARY OF FUNDS AND MOVEMENTS

The following funds were in existence during the year and showed movements:

Fund name Type of fund Use of fund
Organ Fund Restricted Repair and maintenance of church organ
Glovers Flats Designated Market value of two flats owned by the church
Sunvale Designated Market value of residential property owned by the church
Rainbow Nursery Designated To provide working capital for running of nursery school
Special Projects Designated Special projects as specified by PCC from time to time
General Fund Undesignated General purposes

Classification of Funds

Restricted Donations given for a specific purpose; funds can be used only for this purpose. Designated General donations which the PCC wishes to earmark for particular uses and which can be reallocated by them as the need arises. Undesignated General donations which are used for any charitable activity.

Movements in Funds 2024

Fund name
Organ
Glovers
Sunvale
Rainbow
Projects
General		 b/forward
Income
Revaluation
Expenditure
Transfers
c/forward
01.01.24
31.12.24
£
£
£
£
£
£
1,734
0
0
0
0
1,734
430,000
0
0
0
0
430,000
550,000
0
0
0
0
550,000
0
0
0
0
0
0
108,096
40,283
0
-12,007
0
136,372
128,045
179,978
0
-186,080
0
121,943
1,217,875
220,261
0
-198,087
0
1,240,049

Movements in Funds 2023

Fund name
Organ
Glovers
Sunvale
Rainbow
Projects
General		 b/forward
Income
Revaluation Expenditure
Transfers
c/forward
01.01.23
31.12.23
£
£
£
£
£
£
1,734
0
0
0
0
1,734
380,000
0
50,000
0
0
430,000
550,000
0
0
0
0
550,000
10,639
78,554
0
84,359
-4,834
0
59,203
48,893
0
0
0
108,096
140,553
173,218
0
190,560
4,834
128,045
1,142,129
300,665
50,000
274,919
0
1,217,875

During the year £4,834, being Rainbow bank balance on nursery closure, was transferred to Church General Fund.

Page 19 of 20

ST STEPHEN'S SHOTTERMILL PCC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024

14. ADDITIONAL DISCLOSURES

The following are significant matters that are not shown elsewhere in the Financial Statements:

14.1 Rainbow Nursery Pre-school

As Rainbow was wholly owned by the St Stephen's Church, its accounts were fully consolidated with those of the Church. Rainbow Nursery closed at the end of academic year 2022/23 on 21st July 2023.

Income from external sources
Expenditure on external items
Rent for Cross Hall paid to St Stephen's
Deficit for the year
14.2 CROSS Hall
Rent received externally
Rent received from Rainbow
Maintenance and repairs
Gas, electricity and water
Insurance
Cleaning and waste disposal
Deficit for the year		 2024
2023
£
£
0
78,554
0
76,949
0
7,410
0
84,359
0
-5,805
2024
2023
£
£
106
0
0
7,410
106
7,410
8,492
1,922
3,980
6,453
1,565
1,455
1,941
3,111
15,978
12,941
-15,872
-5,531

15. COMPARATIVE FIGURES 2023 BY FUND TYPE

Income and Endowments
Donations and legacies
Charitable activities
Investment income
Other income
Total
Expenditure on
Raising funds
Charitable activities
Other expenses
Total
Net Income
Gains (losses) on investments
Net movement in funds
Funds brought forward
Total funds carried forward		 Unrestricted Restricted Endowment
Total
Funds
Funds
Funds
2023
£
£
£
£
156,007
0
0
156,007
13,597
0
0
13,597
42,594
0
0
42,594
88,467
0
0
88,467
300,665
0
0
300,665
0
0
0
0
190,560
0
0
190,560
84,359
0
0
84,359
274,919
0
0
274,919
25,746
0
0
25,746
50,000
0
0
50,000
75,746
0
0
75,746
1,140,395
1,734
0
1,142,129
1,216,141
1,734
0
1,217,875

Page 20 of 20