REGISTERED CHARITY NUMBER: 1134108
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
----- Start of picture text -----
Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 20
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THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
ThemembersoftheparochialChurchCouncilwhoarealsothetrusteesofthecharitypresenttheirreportwiththe financial
statementsofthecharityfortheyearended31December2024.ThetrusteeshaveadoptedtheprovisionsofAccounting and
ReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
StMary'sisaChurchofEnglandparishwithintheDioceseofSouthwark,servingacommunityofsome3,000householdsin and
aroundMertonPark,London,SW19.Withahistoryandhospitalitythatstretchesbackto1115,wecontinuetobeattheheart of
the local community, worshjpping God, reaching out to the wider world and extend a warm welcome to you all.
StMary’sprimaryfunctionistobealivingChurchinwhichGodispraisedinChristianworship,inspiringpeopletogrowin faith
and serve the community and beyond.
The PCC has the following main objectives:
Purpose :
Inspire worship of God and live the teachings of the Gospel. Nurture community and faith through welcome and hospitality.
Values :
Respect and support one another and the needs of the wider world.
Vision :
Building a sustainable inclusive future, empowering every member.
Public benefit
TheincumbentandthePCChaveconsideredtheCharityCommission'sguidanceonpublicbenefit,inparticular,the specific
guidance on charities for the advancement of religion.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The PCC has maintained its service to the parish across all its usual range of activities.
-1-
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW Treasurer's Report
I am pleased to report that for 2024 the stars aligned and we have had a much better year. These are the highlights:
1. A surplus on our ordinary activities of £10,878. This is down to a number of factors as mentioned below.
2.Wereceived£21,000inlegaciesandmemorialdonationsin2024,ofwhich,inaccordancewiththepolicysetbythe Finance
Committee £10,500 has been allocated to the Burrows Legacy Fabric Fund, and the rest applied to general funds.
3.TheHallgeneratedprofitsofover£19,000in2024.Thishasenabledus,inaccordancewiththespiritofwhatwas agreed
withtheHallCommittee,tocreateadesignatedHallMaintenanceFundof£10,000,towhichwewillhopetoaddas further
surplusesareachieved.Thiswillcreateafundtowardstheinevitablemajorexpenditureintheyearsahead.Butthisisa very
good result and I would like to thank Hazel, Gwyn, Laura and all those involved in the running of the Hall.
4.TheGlebeappealraisedmorethan£1,200,whichhasmeantthatwehavehadnoexpensesfromgeneralfundsforthat this
year. Many thanks to John Combs and all those involved in the Glebe.
5.Ourplannedgivingprogrammeremainsthebedrockofourincome,andwhilethiswasslightlydownonlastyear,ithas held
up remarkably well., and huge thanks to Andrew Mills for his management of that and the Gift Aid claims which go with it.
6.Weoptimisticallybudgeted£10,800forourchurchcollectionsin2024buttheactualresultwasmorethan£10,900, a
remarkableupturnfrom2023.Itwouldbeevenbetterifsomeofthiscouldbeconvertedtoplannedgiving,andthe Finance
Committee has this much in mind.
7. Fee income, investment income, and the Winter Fair were all ahead of expectations.
8.Thevalueofourinvestmentsheldattheendof2024rosebyover£20,000during2024,withafurther£3,000inthe Peter
smith Fund. We are grateful to Hubert Child for his wise handling of our investment portfolio.
9.Ontheexpensesside,almosteverythingcameinatormarginallybelowbudget,withnoespecialstandoutitem,savethat this
hasbeenthefirstfullyearofthenewenergysupplycontract,whichhasseenourenergycostsgodownfromover£14,000 to
below £10,000. It is a remarkable reduction.
10.Awayfromourordinaryactivities,thechurchfabricandourAssociatePriestarebothfundedfromreserves.Thereisstill a
healthybalanceintheHoneysettFabricFund,butwhenthatisexhausted,asitmaywellbethisyear,theBurrowsLegacy Fabric
Fundwilltakeover.OurAPhasbeenfundedfromtheFamiliesandYoungPeopleFund,andthatisalmostexhaustedafter 2024,
and the Finance Committee has agreed to fund this from the Burrows Parish Fund until October 2026.
11.Wehavetomakeacalleachyearastowheretoallocatetheinvestmentgains,andthisyearwehaveallocated one-third
each to the two Burrows funds, and one-sixth each to the Honeysett Fabric and Organ Maintenance funds.
Thenetresult,takingeverythingintoaccount,isan£11,000surplusontheyear,withournetassetsrisingfrom£458,000 to
£469,000.Nowclearlythisisaffectedsignificantlybythelegaciesandtheriseininvestmentvalues,buttherehasalso been
greatfinancialcareacrosstheparishthisyearandweshouldrecognisethat.2025maynotbesogood,butreally2024has been
a good year with the rot stopped, and long may it last.
Finally,asalways,ourgreatestandmostheartfeltthankstoMelanieSharp,ouraccountant,whohasdoneawonderfuljobin the
past year - nothing escapes her eagle eye.
Reserves Policy
ThePCCseektomaintainasufficientlevelofreservestosupportthedaytodayoperationsofStMary'sandtomeet such
contingencies as might reasonably be foreseen.
-2-
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
StMary'sMertonParochialChurchCouncilistheworkingnameforTheParochialChurchCounciloftheEcclesiasticalParishof St
Mary Merton.
TheParochialChurchCouncil(thePCC)isacorporatebodyestablishedbytheChurchofEngland.ThePCCoperatesunder the
Parochial Church Council Powers Measure.
Charity constitution
ThePCCisaCharityregisteredwiththeCharityCommission(registrationnumber1134108)andisanunincorporated association
governedbythetermsofitsconstitution,asembodiedintheParochialChurchCouncils(Powers)Measure1956asamended and
the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended).
Recruitment and appointment of new trustees
ThemethodofappointmentofPCCmembersissetoutintheChurchRepresentationRules.Allmembersofthecongregation are
eligible to be appointed as members of the PCC should they wish to stand for election.
Organisational structure and decision making
ThePCCisultimatelyresponsiblefortheconductandmanagementofthecharity,butthemajorityofday-to-day management
decisions are taken by the following members of the PCC, and subsequently ratified by the PCC if appropriate:
The Vicar, Revd. John Hayward
Revd. Judith Bersweden, Associate Priest
The Churchwardens, David Reeves and Andrew Mills
The Hon Treasurer, John Stephenson; and
Russell Penny, Chair of Building & Works and deputy Chair of the PCC.
The Finance Committee authorises expenditure up to a limit set by the PCC from time to time.
The Church Hall and its attendant finances are managed by a Hall Committee which is responsible to the PCC.
The PCC delegates responsibility for church music to the Director of Music, Tristan Weymes, who is not a trustee.
Induction and training of new trustees
NewmembersofthePCCareprovidedwithcopiesofrecentaccountsandmeetingminutes.Significantchangesin legislation
arebroughttotheattentionofthePCCfromavarietyofsourcesincludingregularmailingsfromtheDioceseofSouthwark and
theCharityCommission,oftenthroughPCCmemberswithdelegatedresponsibilitiessuchassafeguarding,whomayalso attend
relevant training courses offered by the Diocese and others as appropriate.
Key management remuneration
PaylevelsofouremployeesareagreedbytheFinanceCommitteebyreferencetoperceivedmarketlevelsandincreased in
Januaryeachyear,generallyinlinewithinflation.Othercontractorswhoreceivehonorariagenerallyreceiveasimilar annual
increase.
-3-
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensureappropriatecontrolsare in
place to provide reasonable assurance against fraud and error.
ThePCCaimstostrengthenresourcesanddevelopskillsinordertogrowchurchmembershipandtoservethecommunity,but its
initiativesareinevitablyconstrainednotonlybyavailablefundsbutalsobythechallengesingettingnewandespecially younger
membersofthechurchbodytodevotethetimetochurchactivitiesbecauseoftheotherpressuresontheirlives,which inevitably
leadstotheworkbeingdonebythesameorevenslightlyreducinggroupofloyalservantsofthechurchwhoare themselves
aging.
Wetrytohaveasmuchofourincomeaspossiblefromplannedmonthlygiving,whichinturnenablesustomaximisegift aid
recoveryfromHMRC.Inaddition,wenowhaveanelectronicpaymentmachineatalserviceswithsuggested donations
appropriate to the community and the church's need.
ThePCCisresponsiblefortheupkeepofahistoricGrade2-listedchurchbuildingandthisbringswithitconsiderable expense,
bothannuallyandespeciallyafterthefive-yearlyReport.Specialiststonemasonsandotherhighlyskilledcraftsmenare often
required,withtheattendantcost.TobeentrustedwiththecareofStMary'sisaprivilege,butonewhtisasignificantdrain on
ourresources.ThePCChasdesignatedfundsfromlegaciestoensurethatwehavefundstomeetthisneedinthenext five
years.
AsisnotedintheTreasurer'sreport,ourutilitycostswerethebiggestfinancialshockin2023.Anewcontract,andthe general
move downward of energy costs, should mean that we have this under greater control now.
Generally,thePCCpolicyistomanagenormalbusinessrisksinlinewithbestpractice.Thecharityhasnotsufferedany material
damage due to failures of, or inadequate management of, controls.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1134108
Principal address
St Mary's Church Vicarage
3 Church Path
London
SW19 3HJ
-4-
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
PCC Secretary:
Simon Hillson
Incumbent:
Rev. John Hayward (Chair)
Rev. Judith Bersweden
Churchwardens:
Mr. David Reeves
Andrew Mills
Deanery Synod Representatives:
Neville Squires
Dr. Timothy Planche
Sue Davies
Pippa Jones
Elected Lay Members:
Russell Penny (Vice Chair and Chair of Building and Works Sub-Committee)
John Stephenson (Treasurer)
Hazel Abbott (Electoral Roll Officer)
Derek Cox (Chair Hall Sub-Committee)
John Combs (Chair Glebe Sub-Committee)
Juliette Kyei
Barbara Moreland
Lynda Wilson
Celia Milner
Olivia Tripp
Joanna Williams
Christine Conway
David Cowie
Kate Harding
Alexander McDowall
Independent Examiner
Jonathan Askew FCA
Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU
Bankers
Barclays Bank plc
Wimbledon Branch
National Westminster Bank plc
Wimbledon Branch
STATEMENT OF TRUSTEES' RESPONSIBILITIES
ThetrusteesareresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewith applicable
lawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccountingPractice)including Financial
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
-5-
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(AccountsandReports)Regulations 2008
andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgivea true
andfairviewofthestateofaffairsofthecharityandoftheincomingresourcesandapplicationofresources,including the
income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatanytime the
financialpositionofthecharityandtoenablethemtoensurethatthefinancialstatementscomplywiththeCharitiesAct 2011,
theCharity(AccountsandReports)Regulations2008andtheprovisionsofthetrustdeed.Theyarealsoresponsible for
safeguardingtheassetsofthecharityandhencefortakingreasonablestepsforthepreventionanddetectionoffraudand other
irregularities.
Approved by order of the board of trustees on 3 September 2025 and signed on its behalf by:
Mr Russell Penny - Trustee
-6-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
Independent examiner's report to the trustees of The Parochial Church Council of the Ecclesiastical Parish of St Mary Merton
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheParochialChurchCounciloftheEcclesiasticalParish of
St Mary Merton (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewiththe requirements
of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout 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
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.IcanconfirmthatI am
qualifiedtoundertaketheexaminationbecauseIamamemberoftheInstituteofCharteredAccountantsinEnglandand Wales,
which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattentionshould be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jonathan Askew FCA
The Institute of Chartered Accountants in England and Wales
Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU
Date: .............................................
-7-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MERTON
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
Designated
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
2
161,863
10,777
Charitable activities
5
Church activities
4,826
-
Other fundraising activities
3
80,081
1,165
Investment income
4
12,796
-
Total
259,566
11,942
EXPENDITURE ON
Raising funds
6
6,539
-
Charitable activities
7
Church activities
50,624
13,914
Missionary and charitable giving
12,927
-
Diocesan fund contribution
115,000
-
Church hall costs
45,141
19,288
Church management and
administration
21,169
-
Total
251,400
33,202
Net gains on investments
-
18,417
NET INCOME/(EXPENDITURE)
8,166
(2,843)
Transfers between funds
21
(10,000)
10,000
Net movement in funds
(1,834)
7,157
RECONCILIATION OF FUNDS
Total funds brought forward
62,523
303,621
TOTAL FUNDS CARRIED
FORWARD
60,689
310,778 |
Restricted
funds
£
-
-
3,032
-
3,032
-
600
-
-
-
-
600
3,123
5,555
-
5,555
91,770
97,325 |
2024
Total
funds
£
172,640
4,826
84,278
12,796
274,540
6,539
65,138
12,927
115,000
64,429
21,169
285,202
21,540
10,878
-
10,878
457,914
468,792 |
2023
Total
funds
£
154,417
4,070
77,319
10,921
246,727
6,514
75,880
12,860
110,000
105,008
22,041
332,303
12,844
(72,732)
-
(72,732)
530,646
457,914 |
|
|
|
|
The notes form part of these financial statements
-8-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MERTON
BALANCE SHEET
31 DECEMBER 2024
Notes
FIXED ASSETS
Investments
15
CURRENT ASSETS
Stocks
16
Debtors
17
Cash at bank
CREDITORS
Amounts falling due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
21
Unrestricted funds
Restricted funds
TOTAL FUNDS |
2024
£
423,334
150
11,540
63,773
75,463
(30,005)
45,458
468,792
468,792
371,467
97,325
468,792 |
2023
£
436,794
250
12,059
51,551
63,860
(42,740)
21,120
457,914
457,914
366,144
91,770
457,914 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon3September2025andwere signed
on its behalf by:
Mr John Matthew Stephenson - Trustee
Mr Russell Penny - Trustee
The notes form part of these financial statements
-9-
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
ThesefinancialstatementshavebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)Accounting and
ReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019) and the Charities Act 2011.
Thesefinancialstatementshavebeenpreparedtogivea'trueandfair'viewandhavedepartedfromthe Charities
(AccountsandReports)Regulations2008onlytotheextentrequiredtoprovidea'trueandfair'view.Thisdeparture has
involvedfollowingtheCharitiesSORP(FRS102)publishedinOctober2019ratherthantheAccountingandReporting by
Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexceptionof investments
whichareincludedatfairvalue(marketvalue)atthebalancesheetdate.Assetsandliabilitiesareinitiallyrecognised at
historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Thefinancialstatementshavebeenpreparedinsterlingwhichisthefunctionalcurrency,andhavebeenroundedto the
nearest pound.
Financial reporting standard 102 - reduced disclosure exemptions
Thecharityhastakenadvantageofthefollowingdisclosureexemptioninpreparingthesefinancialstatements, as
permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
the requirements of Section 7 Statement of Cash Flows.
Going concern
ThefinancialstatementshavebeenpreparedontheassumptionthatthePCCisabletocontinueasagoing concern,
whichthetrusteesconsiderappropriatehavingregardtothecurrentlevelofunrestrictedreserves,thefinancial position,
futureplansandtheexpectedlevelofincomeandexpenditurefor12monthsfromauthorisingthese financial
statements.Thetrusteesconsiderthattherearenomaterialuncertaintiesaboutthecharity'sabilitytocontinueasa going
concern.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
(i) Donations and collections are recognised when received by the PCC.
(ii)Legaciesarerecognisedonacase-by-casebasisfollowingthegrantingofprobatewhenthe administrator/executor
for the estate has communicated in writing both the amount and settlement date.
(iii) Other trading activities are recognised in the period in which the event takes place.
(iv) Investment income is accounted for in the period in which the PCC is entitled to the receipt.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharity to
thatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticular headings
they have been allocated to activities on a basis consistent with the use of resources.
The Diocesan quota (South London Church Fund) is accounted for when payable.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasacommitmentbut not
accrued as expenditure.
-10-
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Other equipment- 20% on cost
ConsecratedandbeneficepropertyofanykindisexcludedfromthefinancialstatementsbytheCharitiesAct2011 section
10(2) (a) and (c).
Fixed Asset Investments
Investmentsareincludedinthestatementoffinancialpositionattheirfairvalue.Fairvalueisdefinedasquotedprices in
active markets for identical assets or liabilities.
AllgainsandlossesaretakentotheStatementofFinancialActivitiesastheyarise.Realisedgainsandlosses on
investmentsarecalculatedasthedifferencebetweensalesproceedsandtheiropeningcarryingvalueortheir purchase
valueifacquiredsubsequenttothefirstdayofthefinancialyear.Unrealisedgainsandlossesarecalculatedas the
differencebetweenthefairvalueattheyearendandtheircarryingvalue.Realisedandunrealisedinvestmentgains and
losses are combined in the Statement of Financial Activities.
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsoleteandslow moving
items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
UnrestrictedfundsrepresentthefundsofthePCCthatarenotsubjecttoanyrestrictionsastotheiruse. Funds
designated by the PCC for a particular purpose are also unrestricted.
Restrictedfundscanonlybeusedforparticularrestrictedpurposes.Restrictionsarisewhenspecifiedbythedonor or
when funds are raised for particular restricted purposes.
Details of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity'spensionscheme are
charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
Unrestricted
funds
£
Gift Aid donations
106,827
Tax recoverable
28,500
Legacies
21,000
Collections and other donations
16,313
172,640 |
Restricted
funds
£
-
-
-
-
- |
2024
Total
funds
£
106,827
28,500
21,000
16,313
172,640 |
2023
Total
funds
£
108,580
28,533
1,050
16,254 |
|
|
|
154,417 |
-11-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. OTHER FUNDRAISING ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
Church hall lettings
62,120
-
Summer and Christmas fairs
6,428
-
Parish magazine (advertising)
7,370
-
Other
5,328
3,032
81,246
3,032
4.
INVESTMENT INCOME
Unrestricted
Restricted
funds
funds
£
£
Rents received
650
-
Interest and dividends
12,146
-
12,796
-
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fees for baptisms, weddings
and funerals
Church activities
6.
RAISING FUNDS
Other trading activities
Unrestricted
Restricted
funds
funds
£
£
Parish magazine and guide
6,539
-
7.
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
Direct
(see note
Costs
8)
£
£
Church activities
62,240
-
Missionary and charitable giving
-
12,927
Diocesan fund contribution
115,000
-
Church hall costs
64,429
-
Church management and administration
21,169
-
262,838
12,927 |
2024
Total
funds
£
62,120
6,428
7,370
8,360
84,278
2024
Total
funds
£
650
12,146
12,796
2024
£
4,826
2024
Total
funds
£
6,539
Support
costs (see
note 9)
£
2,898
-
-
-
-
2,898 |
2023
Total
funds
£
57,096
6,146
5,829
8,248
77,319
2023
Total
funds
£
650
10,271
10,921
2023
£
4,070
2023
Total
funds
£
6,514
Totals
£
65,138
12,927
115,000
64,429
21,169 |
2023
Total
funds
£
57,096
6,146
5,829
8,248 |
|
|
|
77,319 |
|
|
|
2023
Total
funds
£
650
10,271 |
|
|
|
10,921 |
|
|
278,663 |
|
-12-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
8. GRANTS PAYABLE
Missionary and charitable giving
The total grants paid to institutions during the year was as follows:
Mercy Ships
Christian Care
Church Missionary Society
United Society for Propogation of the Gospel
Welcare
Faith in Action
Spires Centre
Physically Handicapped and Able Bodied Club, Merton |
2024
£
12,927
2024
£
5,689
1,034
1,034
1,034
1,034
1,034
1,034
1,034
12,927 |
2023
£
12,860 |
|
|
2023
£
5,650
1,030
1,030
1,030
1,030
1,030
1,030
1,030 |
|
|
12,860 |
StMary'ssupportsvariousmissionseveryyearwithfinancialdonations,thebudgetforwhichiscalculatedusing the
tithing principle.
9. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
|
|
|
Governance |
|
|
|
|
costs |
|
|
|
|
£ |
Church activities |
|
|
|
2,898 |
Support costs, included in the above, are as follows: |
|
|
|
|
Governance costs |
|
|
|
|
|
|
|
2024 |
2023 |
|
|
|
Church |
Total |
|
|
|
activities |
activities |
|
|
|
£ |
£ |
Independent examiner fee |
|
|
2,898 |
2,760 |
OTHER |
|
|
|
|
|
|
|
2024 |
2023 |
|
Unrestricted |
Restricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
Support costs |
2,898 |
- |
2,898 |
2,760 |
10. OTHER
-13-
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
11. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2024norfortheyear ended
31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
12. STAFF COSTS
Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Parish Office Secretary
Hall Manager
Music Director |
2024
£
36,291
1,929
38,220
2024
1
1
1
3 |
2023
£
35,016
1,408 |
|
|
36,424 |
|
|
2023
1
1
1
3 |
No employees received emoluments in excess of £60,000.
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Designated
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
154,055
362
Charitable activities
Church activities
4,070
-
Other fundraising activities
74,442
21
Investment income
10,921
-
Total
243,488
383
EXPENDITURE ON
Raising funds
6,514
-
Charitable activities
Church activities
53,987
21,027
Missionary and charitable giving
12,860
-
Diocesan fund contribution
110,000
-
Church hall costs
54,077
31,178
Church management and administration
22,018
23
Total
259,456
52,228 |
Restricted
funds
£
-
-
2,856
-
2,856
-
866
-
-
19,753
-
20,619 |
Total
funds
£
154,417
4,070
77,319
10,921
246,727
6,514
75,880
12,860
110,000
105,008
22,041
332,303 |
|
|
|
-14-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Designated
fund
funds
£
£
Net gains on investments
-
9,781
NET INCOME/(EXPENDITURE)
(15,968)
(42,064)
RECONCILIATION OF FUNDS
Total funds brought forward
78,491
345,685
TOTAL FUNDS CARRIED FORWARD
62,523
303,621
14.
TANGIBLE FIXED ASSETS
COST
At 1 January 2024 and 31 December 2024
DEPRECIATION
At 1 January 2024 and 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
15.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2024
Disposals
Revaluations
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
There were no investment assets outside the UK. |
Restricted
Total
funds
funds
£
£
3,063
12,844
(14,700)
(72,732)
106,470
530,646
91,770
457,914
Other
equipment
£
13,594
13,594
-
-
Listed
investments
£
436,794
(35,000)
21,540
423,334
423,334
436,794 |
|
|
-15-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
16. STOCKS
Stocks of guides
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Tax recoverable
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 19)
Trade creditors
Missionary and charitable giving
Wedding deposits and receipts in advance
Parish hall creditors, deposits and agency accounts
Accrued expenses |
|
|
|
Asatthedateofthefinancialstatements£4,733(2023-£5,426)waspayabletothirdpartiesinrespectoffees and
collectionsreceivedasagent.Duringtheyearthetotalfundsreceivedasanagentforfeesandcollectionswas £19,999
(2023 £23,353).
19. LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
20.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Designated
fund
funds
£
£
Investments
15,206
310,803
Current assets
75,393
70
Current liabilities
(29,910)
(95)
60,689
310,778 |
Restricted
funds
£
97,325
-
-
97,325 |
2024
£
95
2024
Total
funds
£
423,334
75,463
(30,005)
468,792 |
2023
£
-
2023
Total
funds
£
436,794
63,860
(42,740)
457,914 |
|
|
|
|
Comparatives for net assets between funds - 31 December 2023
Unrestricted |
Designated |
Restricted |
2023 |
funds |
funds |
funds |
Total funds |
£ |
£ |
£ |
£ |
-16-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
20.
ANALYSIS OF NET ASSETS BETWEEN FUNDS - continued
Investments
41,403
303,621
Current assets
63,860
-
Current liabilities
(42,740)
-
62,523
303,621
21.
MOVEMENT IN FUNDS |
20.
ANALYSIS OF NET ASSETS BETWEEN FUNDS - continued
Investments
41,403
303,621
Current assets
63,860
-
Current liabilities
(42,740)
-
62,523
303,621
21.
MOVEMENT IN FUNDS |
20.
ANALYSIS OF NET ASSETS BETWEEN FUNDS - continued
Investments
41,403
303,621
Current assets
63,860
-
Current liabilities
(42,740)
-
62,523
303,621
21.
MOVEMENT IN FUNDS |
|
|
|
41,403 |
303,621 |
91,770 |
436,794 |
|
63,860 |
- |
- |
63,860 |
|
(42,740) |
- |
- |
(42,740) |
|
|
|
|
|
|
62,523 |
303,621 |
91,770 |
457,914 |
|
|
|
|
|
|
|
|
|
|
Net
movement
At 1/1/24
in funds
£
£
Unrestricted funds
General fund
62,523
8,166
Honeysett fabric maintenance
36,653
(10,798)
Families and young people fund
21,786
(18,282)
Hall maintenance fund
-
-
Music scholarship fund
11,564
207
Outreach fund
6,237
(47)
Organ maintenance fund
33,435
3,080
Glebe Fund
-
219
Youth Club Fund
941
-
Patricia Burrows Fund
95,890
6,139
Patricia Burrows Fabric Fund
97,115
16,639
366,144
5,323
Restricted funds
Peter Smith fund
91,770
5,555
TOTAL FUNDS
457,914
10,878
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
259,566
(251,400)
Honeysett fabric maintenance
-
(13,867)
Families and young people fund
-
(18,282)
Music scholarship fund
207
-
Outreach fund
-
(47)
Organ maintenance fund
10
-
Glebe Fund
1,225
(1,006)
Patricia Burrows Fund
-
-
Patricia Burrows Fabric Fund
10,500
-
271,508
(284,602)
Restricted funds
Peter Smith fund
3,032
(600)
TOTAL FUNDS
274,540
(285,202) |
Transfers
between
At
funds
31/12/24
£
£
(10,000)
60,689
-
25,855
-
3,504
10,000
10,000
-
11,771
-
6,190
-
36,515
-
219
-
941
-
102,029
-
113,754
-
371,467
-
97,325
-
468,792
Gains and
Movement
losses
in funds
£
£
-
8,166
3,069
(10,798)
-
(18,282)
-
207
-
(47)
3,070
3,080
-
219
6,139
6,139
6,139
16,639
18,417
5,323
3,123
5,555
21,540
10,878 |
|
|
-17-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
21. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
movement
At 1/1/23
in funds
£
£
Unrestricted funds
General fund
78,491
(15,968)
Honeysett fabric maintenance
52,730
(16,077)
Families and young people fund
39,868
(18,082)
Hall maintenance fund
11,438
(11,438)
Music scholarship fund
10,992
572
Outreach fund
6,767
(530)
Organ maintenance fund
33,231
204
Glebe Fund
582
(582)
Youth Club Fund
941
-
Patricia Burrows Fund
189,136
754
Patricia Burrows Fabric Fund
-
3,115
424,176
(58,032)
Restricted funds
Peter Smith fund
86,717
5,053
Hall 2021-22 Appeal Fund
19,753
(19,753)
106,470
(14,700)
TOTAL FUNDS
530,646
(72,732)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
243,488
(259,456)
Honeysett fabric maintenance
-
(17,252)
Families and young people fund
-
(18,782)
Hall maintenance fund
-
(11,438)
Music scholarship fund
352
(150)
Outreach fund
-
(730)
Organ maintenance fund
10
(912)
Glebe Fund
21
(603)
Patricia Burrows Fund
-
(2,361)
Patricia Burrows Fabric Fund
-
-
243,871
(311,684)
Restricted funds
Peter Smith fund
2,856
(866)
Hall 2021-22 Appeal Fund
-
(19,753)
2,856
(20,619)
TOTAL FUNDS
246,727
(332,303) |
Transfers
between
At
funds
31/12/23
£
£
-
62,523
-
36,653
-
21,786
-
-
-
11,564
-
6,237
-
33,435
-
-
-
941
(94,000)
95,890
94,000
97,115
-
366,144
-
91,770
-
-
-
91,770
-
457,914
Gains and
Movement
losses
in funds
£
£
-
(15,968)
1,175
(16,077)
700
(18,082)
-
(11,438)
370
572
200
(530)
1,106
204
-
(582)
3,115
754
3,115
3,115
9,781
(58,032)
3,063
5,053
-
(19,753)
3,063
(14,700)
12,844
(72,732) |
|
|
-18-
THE PAROCHIAL CHURCH COUNCIL OF
THE ECCLESIASTICAL PARISH OF
ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
21. MOVEMENT IN FUNDS - continued
Unrestricted Funds
Patricia Burrows Fund - a fund designated for the maintenance of the church.
Honeysett fabric maintenance - a fund for the purpose of the maintenance and repair of the church building.
Honeysett Parish Projects - a fund designated for the 2022 refurbishment of the Hall.
Familiesandyoungpeoplefunds-afundforthepurposeoffundingtheAssociatePriestandother youth-related
projects.
Hall maintenance fund - a fund for the purpose of maintaining the fabric of the hall.
Music scholarship fund - a fund to support the music of the church
Outreach fund - a fund for the purpose of use for social and community events.
Kate Disney fund - a legacy fund at the discretion of the PCC.
Organ maintenance fund - a fund for the purpose to maintain the organ over a 30 year period.
Glebe fund - a fund for the maintenance of the Glebe Field and its trees.
Youth Club fund - a small fund for a youth project to be determined by the PCC.
Restricted Funds
PeterSmithFund-alegacyreceivedwhosecapitalcannotbespent,incometobeappliedforoneormore music
scholarships and the general benefit of the music at St Mary's.
Hall Appeal Fund 2021-22 - a fund for the 2022 refurbishment of the Hall.
Fund Transfers
Transfers into restricted funds are to reflect the additional spend above the restricted income from unrestricted funds.
22. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
-19-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MERTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
23. SPECIAL COLLECTIONS
TheChurchactedasanagentduringtheyear.Collectionsmadedirectlyforthebenefitofthirdpartiesarenotincluded in
the above accounts. These collections were as set out below.
|
Brought |
Incoming |
Resources |
Carried |
Collections |
Forward |
Resources |
Expended |
Forward |
|
£ |
£ |
£ |
£ |
|
|
|
|
|
Ashes Ground Preparation |
112 |
612 |
(672) |
52 |
Bishops' Lent |
- |
325 |
- |
325 |
The Children's Society |
3,322 |
1,774 |
(3,176) |
1,920 |
Choir-Misc-Slush |
- |
1,644 |
(583) |
1,061 |
Choir Fees |
- |
2,110 |
(1,950) |
160 |
Christian Aid |
- |
5 |
- |
5 |
Church Collection |
24 |
10 |
(10) |
24 |
Concert Collections |
- |
2,108 |
(2,014) |
94 |
Crisis At Christmas |
466 |
545 |
(1,011) |
- |
Fairtrade |
- |
442 |
(419) |
23 |
Funeral Collections |
(9) |
1,823 |
(1,655) |
159 |
Royal British Legion |
- |
422 |
(422) |
- |
Vicar's Fees |
- |
3,346 |
(3,285) |
61 |
|
|
|
|
|
|
3,915 |
15,166 |
(15,197) |
3,884 |
|
|
|
|
|
-20-