Report on Accounts for Year Ending 31 December 2024 ## INCOME - Donations - Slight decrease in regular monthly and voluntary donations. Cost of living? - Down £772 - Gift Aid recovered – a consequence of reduction in 2022/23 donations - Down £402 - Other Voluntary Donations – Up c£5k - Legacies - Down c£137k – no large cash legacy in 2024 (but see Assets in Balance Sheet) - Operating Activities - Church Hall – Up c£1. - Insurance Claim – Up c£3k (but used for repairs/replacements to windows & defibrillator) - Green Lane Hall – Up c£17k – 2023 & 2024 contributions Overall Annual Income DOWN on 2023 - £110753 ## EXPENDITURE - General Expenditure - Parish Support Fund (Quota) – Up c£3k from 2023 - Full 12 months contributed - Vicar/Clergy Expenses – Down c£2k – Mother Shavaun’s curacy completed - Organist & Choir – Up c£1.2k – mainly cost towards organist scholarship - Fees & Subs – Up c£600 – contributions to Bishops Certificates in Discipleship & early payment of 2025 RSCM subscription - Flowers - Down £350 – Silk flowers recycled rather than buying fresh - 33 Woodfield Gardens – Legal Fees – Up c£33.7k – Costs associated with purchase of legacy property (See Assets in Balance Sheet) - 33 Woodfield Gardens – Household Costs – Up c£1.5k – Council Tax, Utilities etc - Maintenance - 33 Woodfield Gardens – initial payment for renovations to newly acquired property prior to renting out – Up £c£10k - Hall – Up c£17.5k – Flat roof replacement (c£13k); Replacement water heater (c£1.7k); CCTV (c£1.5k) - Church – Down c£5.8k - Administration - Office costs – Up c£1.2k – increase in Office Administrator salary & general cost of consumables Overall Annual Expenditure UP on 2023 - £64553 Income v Expenditure for 2024 – DOWN £98978 (But see Assets in Balance Sheet) ## BALANCE SHEET - 33 Woodfield Gardens – Legacy from the late Evelyn Kemp of 68.75% of her total estate including the house sale proceeds. The executors accepted an offer from the PCC to purchase the property for £540k and thus no monies passed through the account as it was dealt with through the Executor’s, Church & Diocesan solicitors. After completion of the estate proceeds we did have to pay c£1.8k (in 2025) to make up the shortfall. Various repairs and renovations are taking place at the property to bring it up to a suitable standard to rent out. PCC OF ST JAMES MALDEN BALANCE SHEET AT 31 DECEMBER 2024 2024 2023,," FIXED ASSETS 48 Selwyn Road 33 Woodfield Gardens 375000 540000 375000 CURRENT ASSETS Cash and Income Bonds 193333 292311 1108333 667311 FUNDS 48 Selwyn Road 33 Woodfield Gardens Income Bonds Godly Play (R) Music Fund (R) Pipe Organ (R) Piano Fund R) Christmas Lunch (R) Comfy Chair Donation (prev Solar Energy)(R) General Reserve 375000 540000 10000 1180 10485 20 408 1168 4000 166072 375000 10000 1180 10468 20 408 1168 4000 265067 1108333 667311 (R) denotes rostrlcted account Approved by Standing Committee/PCC and sl8ned on its behalf by Date: Treasurer Date: Secretary U.￿￿6X4 Date: PCC OF STJAMES MALDEN STATEMENT OF FINANCIAL AcnviTIES For the year ended 31 December 2024 Unr•strktsd R•strict•d Endowm•rt Funds Funds Funds TOTAL FUNDS 2024 2023 Note INCOMING RESOURCES From donors 2(a) 38835 38835 39607 Other voluntary 2(b) 27890 2110 163392 Frorn other sources 2(c) 69423 573 69996 46660 From Investments 2(d) 377 377 303 TOTAL INCOMING RESOURCES 136525 2683 139209 249962 RESOURCES USED Grants 3(a) 2064 2064 2320 Artlvltles dlrertly related to the work of the church 3(b) 156040 556 156596 115322 Hall Refurbishment Church Malntenance 48 Selwyn Road refurblsrnent 33 Woodfleld Gardens 3(c) 3(c) 3(c) 3(c) 20168 27228 1187 ICK)56 20168 27228 1187 2726 33024 611 Church Admlnlstratlon 3(d) 20887 20887 19633 TOTAL RESOURCES USED 235566 2620 238187 173634 NET INCOMVEXPENDITURE -99041 63 -98978 76328 PCC OF ST JAMES MALDEN N(yfES TO THE FINANaAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024 l AccouKfiNG POUCIES The flnanclal statements have been prepared in accordance wlth the Church Accountln8 Regulatlons 21)J6 tO8ether with appllcable accountln8 Standards and the SORP 21x15 2 INCOMING RESOURCES Unrestricted Restricted Funds Funds TOTAL FUNDS 2024 2023 2(•) From donors Tax efflclent glvlng (Inc payroll and CAF) Tax recovered Non Glft Ald Collectlons (open plate) 24691 8117 3949 2079 24691 8117 3949 2079 25017 8519 4752 1320 38835 38835 39607 2(b) Oth•r voluntsry Incorn• Legacles Donatlons - Glft Alded Donatlons- Non Glft Alded Alms and Charltles Sacrlsty 138280 4720 18294 1841 258 2595 24436 2595 24436 2110 359 2110 359 2789) 2110 163392 2(c) Income from operatln8 activltles Fees Church Hall Surnmer Falr Beetle Drlve Easter Workshop Harvest Supper Qulz Blbles Sundrles Insurance Claims Green Lane Hall 48 Selwyn Road- Rent Muslc Fund Plpe Organ Fund 2028 22468 2553 170 2028 22468 2553 170 ,2131 20774 144 530 144 530 399 93 123 3063 17016 214CQ 3063 17016 214CQ 141 433 69996 203(X) 141 433 573 69423 46660 2(d) Income from Investments Income Bonds 377 377 302 377 377 302 TOTAL INCOMING RESOURCES 136525 2683 139209 249962 NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Cont) RESOURCES USED Unrestricted Restricted Funds Funds TOTAL FUNDS 2024 2023 3(a) Grants Missionary and charitable giving Overseas Home 614 1450 614 1450 550 1770 2064 2064 2320 3(b) Actlvltles directly related to the work of the church Diocesan Quota Vicar Expenses Clergy Expenses Sacrlsty Summer Fair Organlst and Cholr Fees and subs Music Fund Organ Fund Utilities Insurance Minor Repalrs/Cleanin8 Flowers Sundries Hall 48 Selwyn Road - agents management fee 48 Selwyn Road - Insurance 48 Selwyn Road ~ minor repalrs/maint 33 Woodfield Gardens- Legal Fees 33 Woodfield Gardens- Household Costs 78420 3525 754 1289 623 2422 2143 78420 3525 754 1289 623 2422 2143 123 433 5519 6741 3491 75400 3384 2965 814 546 1198 1512 336 123 433 5519 6741 3491 5327 6427 3262 389 1717 8700 2436 609 300 1777 9211 2698 617 1435 33758 1577 1777 9211 2698 617 1435 33758 1577 156040 556 156596 115321 3(c) Church, Church Hall and 48 Selwyn Road Repairs/Maintenance 48 Selwyn Road 33 Woodfield Gardens Hall - maintenance Church - maintenance 1187 10056 20168 27228 1187 10056 20168 27228 611 2726 33024 58640 58640 36360 3(d) Church Administration Office, printin& stationery etc Bank Charges Card Fees 20454 366 67 20454 366 67 19214 371 49 20887 20887 19633 TOTAL RESOURCES USED 235566 2620 238187 173634 PCC OF STJAMES MALDEN LIST OF CHARITIES FOR THE YEAR ENDED 31 DECEMBER 2024 UNRESTRicfED OVERSEAS TOTAL Overseas HOME TOTAL Home TOTAL UNRESTRicfED RESTRicfED OVERSEAS Jessie's House African Project Total Overseas 614 614 HOME Oxygen Children's Society Lent Appeal 350 350 750 1450 TOTAL Home TOTAL RESTRicfED 2064 TOTAL TO CHARITY -12064 Inde endent Examiner's Re ort to the PCC of St James's Church Malden This report on the financial statements of the PCC for the year ended 31 December 2024 is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 (the Regulations) and the Charities Act 2011 (the act). Respective responsibilities of the PCC and the examiner As members of the PCC you are responsible for the preparation of the financial statements. you consider that the audit requirement of the Regulations and Section 133 of the Act does not apply. It is my responsibility to issue this report on those financial statements in accordance with the tenns of the Regulations. Basis of this report My examination was carried out in accordance with the General Directions given by the Charity Commission and to be found in the Church guidance, 2006 edition. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In connection 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 the Act. and to prepare fll]ancial statements, which accord with the accounting records and comply with the requirements of the Act and the Regulations have not been (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed Dated..2.ql.3/2f.. Oliver Bourached 108 Bodley Roa(L New Malden, Surrey KT3 5QH