The Parlsh Church of Salnt George the Martyr Waterloovllle Registered Charity Number 1134613 THE CHURCH OF ENGLAND ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31ST DECEMBER 2024 Incumbent: The Reverend Colin Lawlor The Vicarage, 5 Deanswood Drive, Waterlooville, P07 7RR Bank: Independent Examiner: Lloyds Bank PIC 272 London Road Waterlooville P07 7HN Mr Paul Read FCA Independent Examiner 9 Tamar Down Waterlooville P07 8QJ HSBC Bank PIC 312 London Road Waterlooville P07 7DX
The Parlsh Church of Salnt George the Martyr Waterloovllle THE CHURCH OF ENCLAND Registered Charity Number 1134613 2024 Year End Accounts Contents Statement of Financial Activities Balance Sheet Analysis of Income & Expenditure Notes to the Accounts Funds Analyses Independent Examiner's Report Churchwarden and Treasurer's confirmation
St George The Martyr Watorlooville - 1134613 Statement of Financial Activities For the peri¢xl from 01 January 2024 to 31 December 2024 Total rKI$ Prior year total funds funds nd5 nd5 Incoming resources from donors Other voluntsry incoming re8our¢es Actsvibe8 in furlherance of the couwls objects Athibe$ for generoting funds Income from investments Olhef incomwig resoufces 16.851 1,011 6,595 36,876 1.472 30,199 16.851 2,079 6,595 36,876 1,472 30,199 19.340 3.061 8237 46,566 1243 55,147 1,067 Tolal incoming rè50urces 93.1x17 1.067 94,076 133,695 Resources used Costs of generating funds Activilie5 relating to the work of the Clr¢h Support costs Clwrch management and adminiaon 4.855 88.954 276 3290 4,855 91.343 276 3290 5,C60 116,118 313 2.388 3,090 97,376 2,388 99.765 124,583 Net income l {expenditure) {4.3691 {1?201 15,689) 9,012 Gross trartsfers belween fvnds- in Gr088 trartsfers belween fvnd8- out Net MKome l (eXpendIre) (4.369) (1 J20) 15,6891 9,012 Gairts I losses on investment assets GairB on revaluation. ffixed assets, ¢haritVs own use 4.095 4,095 277 Net Move In fund$ (273) (1.320) 11.5941 ReCon¢allOn of funds Totsl thnds brwJhtforvard 173,596 181,139 171,849 Totsl fvnds carried foThvard 173,322 6322 179,545 181,139 15 March 2025 Page 1
Asat 3111212024 Asat 3111212023 Reserrfes Excess l (defi¢it) to date Z01: Starting balances Z02.' Other gainfjllosses) Z03.. Gairks and losses own use (5,689.96) 181.139.78 4,095.82 9,012.78 171,849.40 277.60 Total Rgsefves 179,545.64 181.139.78 Reprosented by Funds Unrestricted 163,186.15 10.136.70 6222.79 167.555.59 6,040.88 7,543.31 Desrgnated Restricted Endowment Totsl 179,546.64 181.139.78 15 March 2025 'ag& 2
St George The Martyr Watertooville - 1134613 Balance Sheet detailed Asat 3111212024 Asat 3111212023 Fixed assets 6000003.. CBF 1607 urmts IPDBFI 6000004.. Church Hall 37,151.47 108,059.90 33,055.65 108.059.90 Total Fixed assets 146.211.37 141,116.SS Current assets A1501'. Benk Church Uoyd5 TSB A1502.' Bank Church HSBC 103.49 339.09 6.960.41 9,320.26 12,917.43 10,136.02 A1504.. Legacy ACcot HS8C A1505.. CBF Church deposrt accoLmt Al5.. UTB samngs aCCnt A1507.' HSBC Resefve AccoL 7,269.14 1,719.80 7.67 7,129.80 1,058.32 7.67 A1510'. Bank Hall Uoyd5 TSB & Cash A1515.. CBF Hall Deposit Account A1520.. Cath Flower Furtd 97.72 16.82 A1525.' Bank & Cash Youlh Club Abbey A1530'. Bank Linkjyouth Club A1535.. Bank Social Lloyd5 TS8 A1540.. Bank 100 cb Abbey A1545: BancaSh Bookstall A1550.. Bank SLdaY Sthooj A1556: Toddler Group A1557.' Ladie$ Group A1 $58.. ldraise[S Acco 1,105.23 7.342.55 408.00 809.23 A1 S59.. St George's Cinema A1560'. Toddlers Cash Acc(xwrt 7,201.85 408.00 Z05: Accounts recelvèrable Tolal Current assets 34,334.27 40J>2423 Liabilities Z04: ACUnts Payable Total Liabilitigs NetAssel $urplu$ {defKft) 179,645ts4 181,139.78 15 March 2025 Page 1
Total Last year outgoing 2509007- Toddler group expenifve 2509008- Ladies Group Expendkne 2509015- 40th Birthday jpport 2510005- Hall Tunning costs 2510010- Ham iuMin9 costs-Depm 2706003- Quinquennial Costs 2706004- Dwector of Music 27(O05- Fllm Cl 27fhS008- TLmdraisers" Account 270610- Tealcoffee 27061012- Social Fund 271013- Advertising Monies to PCC 271014- Bonus Ball Prizes 27061015- Bonus 8811 Donations to pcc 100 100 698 20.297 20.297 28.507 1,800 6,987 145 1.800 6,987 145 5,186 8.607 529 52 598 239 470 2,054 560 52 1.926 310 310 Activides relatlng to the worfr of the Church Totals 88.954 2,388 91.343 116,118 Support eO8ts 2706009- Flower Fund Exper 276 276 313 Support costs Tota18 276 276 313 chh management and admlnlstratlon 2007007- Prior Year AdIent 2500001- Adm#iistration 2500002- Pholocopier costs 2500003- Depreciation 2500006- Bank interest & charges 2706006- Bank Charges 2706007- Hall Loan Repayment 2.376 732 2,376 732 826 788 270 180 180 204 Church mon8gem8nt and admlnistratlon Total8 3,290 Resources used Grand totals 97,376 2.388 99.765 124.583 Thwe may dlscr•panel•s th lh• lotats f the pence are nof ljelng sho* 15 March 2025 Page 3
Total Thls year Last y•ar Incomo from Investments 1001000- Dmdends 1001001 - Bank & building soc interest 3101002- Profft on Sa of investments 245 997 1,472 1.472 Income Imm Investments Tota18 1,472 1,472 1,243 Other Incomlng resources 0101005 - Planned Giving Slo 1202008 - Pastoral fun(ts recerved 3103B03 - Extra Ord. Income 3103804 - Corrections & Adjustments 3104004- Bulletin Sponsorship 3104005- Transfers betsveen fid8 3104006- Tealcoffee 25,443 25.443 28,709 2,500 2,500 17,811 (43n 480 7,196 1.000 1,255 1,000 1,255 otherlncomlng res¢wrn• Total8 30,199 30,199 55,147 Incoming resources Grand lotals 93,007 1,067 94,07S 133.595 Resources used Costs of gener8tlng funds 1700004- Fundraising & Sales costs 2500004- Administrator 745 4.110 745 4,110 1,239 3.820 Costs of generntlng lunds Totals 4,855 4,655 5,060 Activitiès rnlating to the work of the chUh 1107004- Fees paid out {weddiro5 etc) 1809004- Gmng to Missionary 1809007 - Secular Charilies 1901005 - Parish Share 2001004- A8swed fees 2007005- Honoraria 2009002- Extra-ordinary expenditure 201)9008- Giwng4eteif & dev agencies 2009010- Music Costs 2011000- Other PCC propety Lykeep 2101010- Deanery Sharelcapitation fees 2102000. Clergy E¥)enses 2102001- knist. Clergy Exp 22C6001- Home Mission 2306000- Church maintenan 23C6005- Orgarpiano nIng 2307000. LIrcal Costs 23081YXI- Upkeep of churchyard 2405(M)5- Church running exp - Gas 2405010- Church running exp- Elec 2405015- Chwch ruming exp - Water 2405020. Chwth In*rance 2509(KKI- Magazine, bookstall, letin 2509001 . MMh)n c08ts 2509002. P88toral c08ts 2509003. Sunday Sthool 2509005. Youlh (kn 25090- So(xal Committee other 675 675 343 2,819 35,142 457 2.819 35,142 457 1,863 27.550 1,125 2,969 2,969 16,918 221 221 1,310 20 1,140 1,140 1.512 2,801 306 889 720 5,717 1,403 213 2,595 745 191 2.801 3Ck8 1,041 720 5,717 1,403 213 2,595 745 191 1,363 102 722 152 9,612 1,616 19S 2,119 767 157 34 111 915 15 March 2025 Page 2
St George The Martyr Waterlooville - 1134613 Analysis of income and expenditure Selected period: 01 January 2024 to 31 December 2024 Total R•strl¢t•d TNS yr Last Incoming resources Incomlng rn8ource8 Imm donors 0101010- Gift ded Pink Env. 0203AOO- Planned Ging- Green Env 0304000- Loose plate Colleclions 0405AOO- Gift days 0602000- Tax recoverae on Gift 2,424 691 2,424 691 4,244 2,195 7.297 1.469 4.244 2,195 7,297 4,151 12,756 Incomlng re8our¢e8 from donorn Tot•l8 16,851 16,851 19,340 other voluntary Incomlng rnsous 0403805- Lircal Donations 0503800- Donations appeals et¢. 1.067 1.089 699 2,361 989 other voluntary Incomlng rnsoUo8 Totals 1,011 1,067 2.079 3.061 Actlvttles In furtherance of the ¢oun¢lls objects 1104000- Fees rec'd IPCCI 3.940 1201AOO - Bookstall saks to promote 216 obj 1202005- Youth Clth Aclniibes 1,935 235 216 1202006- So¢ial Committee other income 1202007- Toddler group wi¢ome 1202009- Ladies group income 1203A06 - Parish magazine $aks 3104001- Fees to be A$gned 3104002- Film Cb 475 828 40 1.782 2,940 1,556 838 1,556 838 Actlvities In fiirtherance of tho counells objects Totals 6,595 6,595 8,237 Actlvltles forgenerating funds 0903AOO- Fete,Bazaar,Fund raising 12020- Church Hire 1202BOO- Ch hall lettings-fund raising 1203A05- Sales 1203A10- Maoaano incom&- athertj.sing 1203A15- Photo¢opying 1203B01- Other funds generated 3104003- TalSel6. Ac¢ount 3104007- Soual Fund 31048- Bonu5 Ball Subs 3104009- AthMt Receipts 5,439 5,439 4,000 20,858 7,028 4,770 20,858 700 700 800 140 5,433 140 5,433 107 29,064 304 1,659 2,659 470 AvItIeS for generntlng funds Total• 36.876 36.876 46,566 There nmy be mlnor dls¢repan¢les In the tolals If the pence are m>t shown 15 Marth 2025 Page I
ST.GEORGE THE MARTYR, WATERLOOVILLE NOTES TO THE FINANCIAL STATEMENTS FOR THEYEARENDED 31.12.2024 I. ACCOUNTING POLICIES The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable standards and the SORP 2005. Funds Endowment funds are funds, the capital of which must be maintained: only income arising from investment of endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established. Restrirted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for the specific objert. The funds may only be expended on a specific object for which they were given. Any balance remaining unspent at the end of the year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis. Unrestrirted funds are general funds which can be used for PCC ordinary purposes. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are infonnal gatherings of church members. Incoming resources Voluntary income and capital sources Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Ald is recognised when the income is recognised.
Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain. Funds raised by the fete. bazaar, parish lunch and similar events are accounted for gross, wherever practicable. Sales of books and magazines from the church bookstall are accounted for gross. Other income Rental income from the letting of church premises is recognised when the rental is due. Income from investments Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Gains and losses on investments Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December. Resources used Grants Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. Activities dirertly relating to the work of the Church The diocesan parish share is accounted when paid. Fixed assets Consecrated property and movable church furnishings Consecrated and beneficed property of any kind is excluded from the accounts by s.96(2)(a) of the Charities Act 1993. Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and when require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's Inventory which can be inspected (at any reasonable time. For inalienable property acquired prlor to 2002 there is insufficient cost information available and therefore such assets are not valued in the accounts.
All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings acquired before I lanuary 2002 is written off as expenditure in the SOFA (Statement of Financial Activities). Investments Investments are valued at market value at 31 December. Current Assets Amounts owing to the PCC at 31 December in respect offees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable. Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank 2. FIXED ASSETS (a) Tangible (unrestricted) 2024 Freehold land and Buildings At 31st December 2024 £108,060 The freehold land and buildings comprise the Church Hall at Hambledon Road, Waterlooville, Hampshire and are shown at net book value. 3. INVESTMENTS Investment of 1607 shares in the CBF Church of England Investment Fund: Market value at 1st January 2024 £33,056 An increase in fund value £4,095 Market value at 31st December 2024 £37,151 Interest and dividends earned during 2024 amounted to £1,472 the majority of which was credited to the HSBC account.
- ANAYLSIS OF NET ASSETS Unrestricted Funds Restricted Funds Endowment Funds TOTAL 2024 Tangible assets Investment assets Current assets 108,059.90 108,059.90 37,151.47 34,334.00 37,151.47 34,334.00 142,393.90 37,151.47 179,545.37 Liabilities (amounts Falling due within one Year) 142,393.90 37,151.47 179,545.37
- RESERVES Whilst the PCC'S stated aim is to maintain unrestricted fund reserves equivalent to one half of normal annual outgoings, this is likely to be difficult to maintain in the short term.
- RISK MANAGEMENT The major risks to which we may be exposed are reviewed regularly and steps taken to mitigate any risks identified. In particular, Health & Safety matters receives regular attention and we have in force Child Protectio policies in accordance with Home Office and Diocesan guidelines.
- PAIUSH SHARE In 2024 we paid £35,142 in Parish Share to the Diocese against the requested amount of £69,425- i.e. a £34,283 shortfall. We also had shortfalls in 2022 & 2023 amounting to £66,261. Therefore, the amount owing to the Diocese as at the end of 2024 is £100,544. SL George The Martyr Church Waterlooville 2024yearendAccounts
Independent examinerfs report to the Trustees of The Parlsh Churth of Salrt Georye the Martyr, Waterlooville Trust (re8iStered charfty number 1134613) I report on the accounts of the Trust for the year ended 31 December 2024. Retrospertlve responslbllltles and examiner The chariws trustees are responsible for the preparation of the accounts. The charitrfs 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 settion 145 of the 2011 Art To follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Att and To state whether particular matters have come to my attention. Basis of the independent examinerfs report My examlnation was carried out in accordance with the general Direttions 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evldence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below. Independent examlnerfs report In connettion with my examination, no matter has come to my attention: (l) Which gives me reasonable cause to believe that in any material respect the requirements: To keep accounting records in accordance with sertion 130 of the 2011 Act; and To prepare accounts which accord with the accounting records and comply with the acco.unting requirements of the 2011 Act 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. Name: Professlonal quallfication or body: Address: Date: Paul Read FCA Institute of Chartered Accountants in England and Wales 9 Tamar Down, Waterlooville, Hants. P07 8QI Slgnature:
Father Colin Lawlor Incumbent Date: Accounts prepared by Mrs. Sara Pask Honorary Treasurer Date: