Saint Michael and All Angels Main Road Gidea Park Romford RM2 5EL ## Financial Report for the Year Ending 31[st ] December 2025 ## **End of year balance** |**As at 31/12/25:**|| |---|---| |**Bank Current account**|£123,277| ## **Annual Accounts for 2025 versus Previous Years** |**Annual Accounts**|**2025**|**2024**|**2023**| |---|---|---|---| |**Receipts**|£183,221|£167,055|£151,971| |**Payments**|£159,430|£163,645|£121,525| |**Difference**|£23,791|£3,410|£30,446| - Receipts have increased during 2025 by £16,166 when compared with 2024, mainly due to a legacy of £5,000, - a British Gas rebate of £10,620 and gift days which raised £7,405. - During 2025, £30,000 was paid for the 2024 parish share, and £40,000 was paid towards the 2025 parish share, giving a total of £70,000. - - The end of year balance of £123,277 includes restricted funds of £33,314. ## **Going Concern/Additional Comment** Since the main hall fire in 2022, the insurance company has been paying funds into the church bank account to cover the lost rental income and associated costs, the rebuilding of the main hall was completed in 2025. The parish share for 2025 was £84,327, of which £55,000 has been paid. The church cannot afford to pay the full parish share for 2026, which is £86,062. For the last few years’ the church has been paying a reduced parish share. **Parochial Church Council of St Michael's Church, Gidea Park Financial Statements for the year ended 31st December 2025** This statement has been prepared in accordance with the Church Accounting regulations 2006 ## **Receipts and Payments Account** |**Note**
**Receipts**
Planned Giving
2
Tax Recovered in 2025
4
Unplanned giving & donations
3
Other receipts
4
Halls
5
109 Carlton Road
6
Investment income CCLA
**Total Receipts**
**Payments**
Parish Share
7
Church renewals
8
Church running costs
9
Clergy expenses
10
Missions & Charities
11
Halls running costs
12
109 Carlton Rd costs
13
Other Payments
14
**Total Payments**
Receipts less payments
Cash at bank and in hand at 1st January 2025
Cash at bank and in hand at 31st December 2025|**£**
**Unrestricted**
**Funds**|**£**
**Unrestricted**
**Funds**|**£**
**Restricted**
**Funds**|**£**
**Restricted**
**Funds**|**Total 2025**
**£**|**Total 2025**
**£**|**Total 2024**
£|**Total 2024**
£|**2023**
£| |---|---|---|---|---|---|---|---|---|---| ||||||||||| ||22,002||0||22,002||22,604||26,504| ||3,328||||3,328||13,455||10,456| ||20,919||||20,919||12,303||7,014| ||20,949||||20,949||4,285||3,108| ||100,289||||100,289||106,568||89,889| ||15,734||||15,734||7,840||15,000| ||||0||||||| ||**183,221**||**0**||**183,221**||**167,055**||| ||||||||||**151,971**| ||70,000||||70,000||45,000||39,578| ||5,379||||5,379||3,954||714| ||18,232||||18,232||23,945||25,897| ||16,464||||16,464||14,119||22,276| ||4,200||||4,200||2,400||1,150| ||29,821||||29,821||35,668||26,644| ||6,178||||6,178||35,443||2,416| ||9,156||||9,156||3,116||2,800| ||**159,430**
**23,791**
76,463
**89,963**||**0**
23,020
**33,314**||**159,430**
**23,791**
99,483
**123,277**||**163,645**
**3,410**
70,652
**70,652**||| ||||||||||**121,475**| ||||||||||30,446
65,625| ||||||||||**65,625**| |**Statement of Assets and Liabilities at 31st December 2025**
Cash at bank and in hand
Bank Current account
89,963
33,314
Deposit account
0
89,963
33,314
Liabilities
None
Asset retained for own use
Fixed Asset - 109 Carlton Road
**45,400**
**45,400**
**45,400**
This asset is retained for church use: freehold house at 109 Carlton Road purchased 1985 (cost £45,400)
The property is not regularly revalued but a conservative unofficial valuation of the property in 2022 estimated the value at £500,000
**Unrestricted**
**Fund**
**Restricted**
**Funds**|| |---|---| ||| ||| ||_45,400_| ||| **Parochial Church Council of St Michael's Church, Gidea Park Financial Statement for the year ended 31st December 2025** ## **Notes to the Accounts** ## **Note 1 Change in Funds** |General Funds - Not Restricted
Palmer (Church Fabric) - Restricted
Helga Johannsen (Mission work) - Restricted
New Church Noticeboard - Restricted
Rev. Elvin Legacy (Remembrance) - Restricted
Main Hall Insurance Payments
Main Hall Gift Days
**Restricted funds**
Total
**Note 2 Planned Giving**
Envelope Scheme
Standing Orders
**Note 3 Unplanned giving & donations**
Collections
Donations
Gift Day
Fundraising
**Note 4 Other receipts**
Church fees
Bright Minds Playgroup
Charities
Sundries
Tax Rebate
Gas Refund
Grants
Refreshment
Harold Hill Foodbank (CAP Office)
Legacies
**Note 5 Halls**
Regular Monthly lettings
Church Insurance Advance (due to fire)
**Note 6 109 Carlton Road**
Rental income|**1 January 2025**|**Transfer**|**Interest**|**Receipts/**
**(Payments)**|**31st Dec 25**| |---|---|---|---|---|---| ||76,463||||89,963| ||14,951
1,883
1,800
4,386
0|||-1883
1,800
2,880|14,951
0
0
4,386
11,097
2,880| ||23,020|||2,797|33,314| ||||||| ||99,483||||123,277| ||200
21,802
22,002
13,334
180
7,405
0
20,919
563
410
1,800
3,328
13,176
0
0
0
5,000
24,277
60,289
40,000
100,289
15,734
15,734
**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Total 2025**
200
21,802
22,002
13,334
180
7,405
0
20,919
563
410
1,800
3,328
13,176
0
0
0
5,000
24,277
60,289
40,000
100,289
15,734
15,734|**Total 2024**
150
22,454
22,604
10,463
1,840
0
0
12,303
1,466
810
2,009
13,455
0
0
0
17,740
59,628
46,940
106,568
7,840
7,840|**Total 2023**
150
26,354
26,504
6,344
0
670
7,014
51
706
247
10,456
1,520
9
575
13,564
64,889
25,000
89,889
15,000
15,000| **Parochial Church Council of St Michael's Church, Gidea Park Financial Statement for the year ended 31st December 2025** ## **Notes to the Accounts** |**Notes to the Accounts**|||||||||| |---|---|---|---|---|---|---|---|---|---| |**Note 7 Parish Share**
2025 Parish Share for 2024
2025 Parish Share for 2025
**Note 8 Church Renewals**
Repairs & Renewals
**Note 9 Church running costs**
Church Insurance
Heating and Lighting
Organ & Music
Sanctuary
Church & Childrens Groups
Office manager/accounts assistant
Flowers
Cleaning
Fire protection
Bank Charges
Refreshments
Church PPST
Bibles / Church books
**Note 10 Clergy Expenses**
Vicar's expenses
Interregum Costs
Curate's Expenses
Fees to officiating ministers
Children's Worker
Children's Worker Expenses|**Unrestricted**
**Funds**||**Restricted**
**Funds**||**Total 2025**||**Total 2024**||**Total 2023**| ||30,000||||30,000||20,000||9,578| ||40,000||||40,000||25,000||30,000| ||70,000||||70,000||45,000||39,578| ||5,379
5,379
2,690
4,795
615
0
0
3,125
0
3,757
754
261
2,013
222
18,232
342
16,122
0
16,464||||5,379
5,379
2,690
4,795
615
0
0
3,125
3,757
754
261
2,013
222
18,232
342
16,122
0
16,464||3,954
3,954
2,622
5,432
595
0
0
11,435
0
0
964
261
0
1,980
656
23,945
119
14,000
0
14,119||714| ||||||||||714| ||||||||||2,782
8,620
865
0
45
10,364
0
228
0
277
0
2,300
416| ||||||||||25,897| ||||||||||50
20,870
1,406| ||||||||||22,326| **Parochial Church Council of St Michael's Church, Gidea Park Financial Statement for the year ended 31st December 2025** ## **Notes to the Accounts** |**Note 11 Missions & Charities**
Essex Clergy
CMS
4,200
4,200
**Note 12 Halls running costs**
Utilities - Gas & Electricity *
11,442
Water
737
Minor Repairs
0
Major Repairs
0
Insurance
7,913
Cleaning Materials
0
Main Hall & Manley Cleaning
114
Hedley & Chadwick Cleaning
3,749
Hall Window Cleaning
750
Trade refuse
2,123
Sundries
2,723
Fire, lighting & PAT tests
270
29,821
**Note 13 Carlton Road Running Costs**
Minor Repairs via Agent
823
Minor Repairs NOT via Agent
2,855
Management Fees & VAT
1,656
Insurance
844
Council Tax
0
Major Refurbishment
0
6,178
**Note 14 Other Payments**
Gifts
0
Fees to Diocese
817
Office Manager Expense
1,344
CAP Office
6,995
9,156
**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Total 2025**
4,200
4,200
11,442
737
0
0
7,913
0
114
3,749
750
2,123
2,723
270
29,821
823
2,855
1,656
844
0
0
6,178
0
817
1,344
6,995
9,156|**Total 2024**
2,400
2,400
16,289
558
0
2,280
4,957
775
3,445
2,855
550
2,399
1,290
270
35,668
0
1,765
808
2,031
30,839
35,443|**Total 2023**
1,150| |---|---|---|---|---| |||||1,150| |||||6,054
1,054
386
276
4,898
1,198
3,572
3,115
1,000
2,036
1,685
1,370| |||||26,644| |||||0
1,621
795| |||||2,416| |||||| |||||| ## **Independent examiner’s report to the PCC of St Michael & All Angels Church, Gidea Park** I report on the accounts of the PCC for the year ended 31 December 2025 which are set out in the financial report. ## **Respective responsibilities of the PCC and the examiner** The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an Independent examination is needed. It is my responsibility to - Examine the accounts under section 145 of the 2011 Act; - Follow procedures laid down in the general directions given by the Charity Commissioners section 145(5)(b) of the 2011 Act; and - State whether particular matters have come to my attention. ## **Basis of Independent Examiners Statement.** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an opinion on the accounts. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with s.130 of the 2011 Act; or - to prepare accounts, which accord with these accounting records have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached, except however, for the following ongoing concerns ## **ONGOING CONCERNS** In accordance with the Church of England’s Accounting Guide (section 3 para 3.4) I am obliged to comment on any matters which effect the Church’s current financial position. Whilst Invoices are dealt with promptly, they should, however, be checked for consistency to avoid any errors or over payments. Mrs Valerie Goodwin, Independent Examiner. 20[th] April 2026 508 Upper Brentwood Road Romford RM2 6JA