OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← The Parochial Church Council Of The Ecclesiastical Parish Of Holy Trinity, Fareham

2024-12-31-accounts

Annual Report

and

Financial Statements

of the

Parochial Church Council

for Parish of Holy Trinity with St. Columba, Fareham

for Year ending 31[st] December 2024

Registered Charity No. 1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Contents

Statutory Information ................................................................................................................................................... 3 The Parish and the Parochial Church Council ............................................................................................................... 4 Parish Vision Statement................................................................................................................................................ 5 Membership of the PCC ................................................................................................................................................ 6 Sub-committees of the PCC .......................................................................................................................................... 7 PCC Review ................................................................................................................................................................... 7 Public Benefit & Events ................................................................................................................................................ 8 Health and Safety/Buildings ......................................................................................................................................... 9 St Columba Church Development Project .................................................................................................................... 9 Safeguarding Policy..................................................................................................................................................... 10 Stewardship ................................................................................................................................................................ 10 Environmental, Social and Governance Report .......................................................................................................... 11 Financial Review ......................................................................................................................................................... 11 Investment Policy ....................................................................................................................................................... 12 Reserve Policy ............................................................................................................................................................. 12 Statement of Trustees’ Responsibilities ..................................................................................................................... 13 Independent Examiner’s Report ................................................................................................................................. 14 Statement of Financial Activities ................................................................................................................................ 15 Balance Sheet ............................................................................................................................................................. 16 Statement of Cash Flows ............................................................................................................................................ 17 Notes to the Financial Statements ............................................................................................................................. 18

2

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Statutory Information

Priest in Charge...................................................................................................The Rev Dr Sam Cullen Priest in Charge...................................................................................................The Rev Dr Sam Cullen Priest in Charge...................................................................................................The Rev Dr Sam Cullen
Correspondence Address...................................................................................Holy Trinity Parish Office
West Street
Fareham
Hampshire
PO16 0EL
Parish Office Telephone Number ....................................................................................(01329) 232688
Charity Registration Number.......................................................................................................1135129
Main Bankers...................................................................................................................Lloyds Bank Plc.
43 West Street
Fareham
PO16 0BE
Solicitors...............................................................................................................................Brutton & Co.
228 West Street
Fareham
PO16 0AJ
Architects Holy Trinity Julian Vallis
Vallis & Hall Conservation Architects LLP
Unit 78, Chichester Enterprise Centre
Terminus Road
Chichester
West Sussex
PO19 8TX
Architects St Columba Studio BAD
18 A London Road (Second Flr))
Southampton
SO15 2AF
Independent Examiner ......Nigel Smith, BSc (Econ), CPFA
2 Dover Close
Fareham
Hampshire
PO14 3SU
Insurer................................................................................................Ecclesiastical Insurance Office Plc.
Beaufort House
Brunswick Road
Gloucester
GL1 1LF

3

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

The Parish and the Parochial Church Council

The parish of Holy Trinity with St Columba is a Team Ministry with two churches, Holy Trinity on West Street in Fareham town centre and St Columba on Hillson Drive in the suburban North West of Fareham.

The Parish of approx. 19,200 people is managed by one Parochial Church Council (PCC) comprising members from both churches.

The PCC has the responsibility for cooperating with the Ministry Team in achieving our Mission of “practising our faith together by reaching out, sharing what we have and partnering with others for the common good”.

The Parish Values, Vision and Mission statement continue to inform PCC decision-making. Time has also been invested in shaping the individual identifies of each church. For example, St Columba Church has a strong focus on community engagement. Whilst a vision for ‘Holy Trinity 2035’ is being considered.

Across the whole Parish, there is energy and passion for reducing our carbon footprint and increasing our care of creation. In 2024, this was reflected in the achievement of an Eco Church award from A-Rocha UK, category Silver.

During the interregnum, the Parish had been advised by the Bishop of the Suspension of the Right of Presentation while the Deanery discussed a possible reorganisation. As the Deanery rolls out its new Vision of Prayer, Partnership and Planting, the way forward should become clearer.

The pattern of worship for each church is under regular review. Worship continues to be led by a combination of lay and ordained, with regular Worship Team meetings to plan the seasons ahead and review the seasons gone and to reflect upon what is working well and what isn’t. Worship is supported by a number of gifted and able musicians.

Mission and outreach continues in line with our aims to reach out, share what we have and partner with others for the common good . And in 2024 we extended our outreach to provide regular worship in four Care Homes within the Parish, partnering with Anna chaplaincy.

In 2024 we also partnered with the NHS and Two Saints to provide a weekly chaplaincy to the residents of a local Detox service.

Outreach to children and families continues as a result of two key appointments within the Parish: The Families Link Co-ordinator/Messy Church Leader Role at Holy Trinity and the St Columba Community Worker role. Each of these roles is vital to the mission of the Parish. the Messy Church events in the Parish have resulted in a strong and steady flow of children and families. As does the Parish’s weekly toddler group, Little Fishes.

Outreach to and care of older people continues through the efforts of the St Columba Community Connections Worker. This care of older people has been augmented by partnering with Anna Chaplaincy in 2024.

The Statistics for Mission in 2024 demonstrated that average weekly attendance is low: 57 at Holy Trinity, 30 at St Columba. Going forwards, resources will need to be directed towards growth in depth and number, through spirituality and discipleship programmes and other means.

The PCC has two associated trusts, the Holy Trinity Parish Hall Trust, which is responsible for the upkeep of the Holy Trinity Church Hall, and the Helen Butter Waddell-Boyd Trust, administering a bequest. There is one charity, the Le Blanc Charity (257280), which provides a small income for the use of the PCC.

The PCC is a corporate body established by the Church of England, operating under the Parochial Church Council (Powers) Measure 1956 and registered with the Charity Number 1135129. The Team Ministry was inaugurated by Order in Council on 23rd June 1971. In July 2020 the Parish affiliated with the Inclusive Church Network

(https://www.inclusive-church.org/).

4

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Parish Vision Statement

The Parish Vision Statement has been reviewed and adopted by the PCC and is:

5

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Membership of the PCC

Members of the congregation who are on the Church Electoral Roll are eligible to stand for election to the PCC. Elections to the PCC are conducted at the APCM in accordance with the Church Representation Rules. Each member stands for a term of three years and can stand for up to two consecutive terms.

List of PCC elected members at APCM on 19[th] April 2024.

Name Date elected for Current term Date for
current term re-election/retirement*
Helen McCarthy (St C) 2022 1st 2025
Rowena Palmer (St C) 2023 2nd 2026*
Donna Irving (HT) 2023 1st 2026
Julia Docherty (HT) 2023 1st 2026
Sue Hall (HT) 2024 1st 2027
Steve Ellis (HT) 2024 1st 2027
Bob Turner (HT) 2024 1st 2027
James Rowland (HT) 2024 1st 2027
Mandy Crockford (St C) 2024 1st 2027
Charlotte Farrell (St C) 2024
 2nd 2027*
Rosemary Brewerton (St C) 2024 2nd 2027*

Other members of the PCC during 2024 were present by virtue of their official role:

Name Role

Rev Dr Sam Cullen Mark Coundley Lucy Docherty Jim Palmer Jane Whiteley Alison Jacobs

Priest-in Charge Church Warden Holy Trinity, Deanery and Diocesan Synod Rep Church Warden Holy Trinity, Deanery, Diocesan & General Synod Church Warden St Columba Church Warden St Columba Deanery Synod Rep

Emma Bourner

Safeguarding Officer

Others were co-opted onto the PCC after the 2024 APCM, by virtue of their honorary roles:

Name Sue Marshall Alison Jacobs

Role Treasurer PCC Secretary

6

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Sub-committees of the PCC

The PCC, as a decision-making body, operates through the following committees. Reports from the meetings of committees are given to PCC members for information, comment and questions. In this way the PCC monitors and approves much of the work carried out on its behalf, by the sub-committees. Whilst the PCC has the power to overrule a committee, in practice it seldom does.

Joint Standing and Finance & General Purposes Committee

The Standing Committee is the only committee which is required by law. It has the power to transact the business of the PCC between its meetings, subject to any directions given by the Council. This committee also oversaw the general financial affairs of the two churches in the parish by monitoring income and expenditure and preparing an annual budget. Accountable to the PCC, it also took responsibility for the stewardship of parish resources, including all parish properties (buildings and equipment).

Holy Trinity Church Committee (HTCC)

This committee is responsible for worship and church life, education, mission and outreach and Christian Unity within the church of Holy Trinity.

St Columba Church Committee (SCCC)

This committee is responsible for worship and church life, education, mission and outreach and Christian Unity within the church of St Columba.

PCC Review

The PCC held six face-to-face meetings during 2024 and there was one short meeting on Zoom*. At every meeting, members were asked to declare any interest in agenda items and at the face-to-face meetings reports were always given on issues relating to health & safety and the safeguarding of children and vulnerable adults.

The meetings were held on:

A summary of the main items discussed at PCC meetings during 2024 is given below.

7

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Public Benefit & Events

Occasional Offices: Details of services in the Parish that took place for the benefit of specific members of the public in 2024 are below:


Baptisms

Weddings

Funerals
 2024

14

1
11 church

6 crematorium

1 interment of ashes		 2023
8
3
12 church
5 crematorium/burial
5 interment of ashes

A selection of Sunday services from both Holy Trinity and St Columba were live streamed and available to view via social media.

Little Fishes, specifically for families with preschool children, met weekly on a Wednesday morning and several Messy Church and Little Fishes Go Big sessions were held during the year to include older children and more craft activities and worship.

Weekly Morning Prayer continued in our churches during 2024.

Holy Trinity church was open to the public on Monday, Thursday, Friday and Saturday mornings and on Wednesday afternoons, thanks to the support of volunteers from our congregation.

In the Parish, the HT Hall and both churches were available to all and regularly used by a wide cross-section of the community including a weekly Lunch Club for the elderly, choral groups, children’s Uniformed Groups, Little Fishes/Messy Church, Slimming World, the Meon Health Group, Alcoholics Anonymous, Nutty Knitters, a community coffee morning, toddler group, table top sale, afternoon tea group and the St Columba Friendship group. St. Columba Church continued to be used fortnightly by the St. Mary’s Jacobite Syrian Orthodox Church.

8

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

HT hall and both churches are also available for private hire through the Parish Office. Building works to install kitchen and toilet facilities at St Columba Church were completed in 2024. The church has continued to be in use throughout the week.

Clergy and lay workers continued to make connections with local schools in 2024. Collective worship at St Columba Primary was led by our community worker, Sally Dewberry, supported by Revd Sam, and a small group of parishioners went into school to listen to young readers. Revd Sam went into individual classrooms and year groups to talk about specific RE topics.

In August 2024, Sally Dewberry retired and Abi Handley took up the community worker role in September 2024. During the year, Revd Jo-Anne and Revd Sam visited Uplands Primary School to give Assembly talks and RE talks.

Christmas hampers were again given to the most vulnerable families at St Columba School and were received with great delight. Local schools came to our churches for services at Easter, end of school year, Harvest and Christmas.

In 2024 outreach and mission work extended into four Care Homes in the Parish: Ranvilles, Cordelia House, Blackbrook House, and Avenue Care Home. An Anna Chaplaincy is also taking root since 2024.

Weekly Outreach and chaplaincy to a local Detox Centre began in May 2024 and continues to be appreciated by both the residents and staff.

Open Table continued to meet in the Holy Trinity Hall as a safe space for LGBTQ+ Christians and their friends.

2024 saw the inception of Deaf Church at Holy Trinity, a monthly Holy Communion service for the deaf community led by priests who use British Sign Language.

Health and Safety/Buildings

There were no major H&S issues in 2024 requiring changes to relevant policies. At Holy Trinity, the pathway leading from the north door to the main road was seen to be a slip hazard during frosty times. This was dealt with by sandblasting the stones which removed the threat of slipping. A broken fingerguard on the link door was repaired. Potential issues with falling plaster were dealt with. Several people attended a first aid course in the spring of 2024. Thanks to those colleagues for stepping forward.

St Columba Church Development Project

With the closure of the church hall in 2023, the church building itself has been used throughout 2024 by community groups. We’ve made minor changes during that time to improve usability. The Feasibility Study produced by Studio BAD of Southampton was delivered in January and after consideration by the St Columba Church Committee and PCC, it was decided to move forward with Phase 1 of our redevelopment. This consisted of creating a toilet and kitchenette at the back of the church and improving the storage facilities in the choir vestry. Together, these facilities would replace those we had previously enjoyed in the church hall.

Rather than seeking a Faculty for the work, we took advice from the Diocese and applied to withdraw St Columba Church from Faculty jurisdiction. This was approved by the Bishop in August. Work commenced in September

9

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

2024 and formally completed in December. A celebration and blessing of the new facilities is planned for January 2025.

The church was closed for community use while the work was carried out. Most of our users managed to find alternative venues for that period and we’re delighted that most decided to return. Unfortunately, Meon Health have decided not to book any further sessions with us and have moved on.

Meanwhile, our architect, Darren Bray, has been progressing Phase 2 of the project, exploring options for working with a Housing Association to provide social housing on the site and use the income to build a new church which would be both eco friendly and cheaper to maintain. This work continues.

Safeguarding Policy

Stewardship

Given the stabilisation of the accounts in the years post COVID and the indication of a consistent level of annual loss in the General Fund, the PCC decided to launch its first Stewardship campaign this year. This coincided with the national Generosity Week in September 2024, promoted by the Church of England.

We continue to recognise the financial difficulties some will have faced in maintaining their stewardship in 2024 and give thanks to everyone who has continued with their regular giving through the Parish Giving Scheme, standing orders or weekly envelopes. Moreover, we give thanks to all those who responded to Generosity Week either by increasing their regular pledge giving or by one off donations. In addition, there has again been generous support to appeals for food hampers for families at St Columba Academy which was much appreciated and needed by the families concerned. The Covid Fund closed to receipts in 2024 having donated over £25,000. There is still a balance in the fund of £3,000 of which the CAB have been informed.

10

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Environmental, Social and Governance Report

E is for Environment

Holy Trinity and St Columba have a key priority to work towards sustainability and Net Zero. The A Rocha charity has awarded us Silver Award in 2024. Today we work to maintain the parish buildings and grounds within our care and actively look for energy reduction opportunities.

Holy Trinity has Solar Panels fitted to the hall to help reduce our carbon footprint.

At present we use screens at St Columba to reduce the amount of paper we use within services.

A recently taken carbon footprint analysis shows that our annual footprint is 15.4 Gross C02 emissions (Tonnes) for Holy Trinity and 13 Gross C02 emissions (Tonnes) for St Columba. Our Gas Heating is our primary producer of CO2. This we will plan to replace in future refurbishment projects.

S is for Social

Holy Trinity and St Columba value their employees and recognise the importance of paying a living wage. Policies for equal opportunities, training and development and health and safety are published on our website and reviewed by the Parochial Church Council annually. We are part of the Inclusive Church Network and Christians Together in Fareham. The Parish endorses the Fair Trade movement and its products. Being part of the Inclusive church network, we have welcomed the Deaf Church and Open Table.

G is for Governance

Holy Trinity and St Columba take their governance duties seriously. All new PCC members undergo regular training in the duties of Trustees. The trustees review our investments on an annual basis and take advice from the Diocesan Investment Advisory Group. Investments are made in line with the Church of England’s Ethical Investment Advisory Group guidelines. We have worked hard to align our Vision and Action plan within a set of values that reflect our Christian mission and witness.

Financial Review

The General Fund had a deficit for the year of £14.4k which was smaller than expected. A transfer of £50k was made from the designated Parish Capital fund which has ensured that the balance on the General fund was £69.7k at the year end. Income was higher than budgeted due to generous giving during Generosity week and car park income being higher than estimated by FBC the previous year. Pledge giving was lower than the previous year which led to the Parish Giving sum being reduced, although as there were 7 charities in 2023 and 6 in 2024, the amount per charity is higher at £1,027 compared to £931 in 2023.

In 2024 expenditure in the General Fund was almost as budget. The Energy provider was changed in October which should mean lower bills next year.

The Holy Trinity Hall made a deficit during the year amounting to £1,280 (2023 – deficit of £5,085). During the year a £15k transfer was made from the designated Parish Capital fund to cover the reserves deficit. The windows etc are to be replaced/repaired during 2025 and hopefully, that will increase demand for hires, this work is to be funded from the HT Hall EO fund which must be used on refurbishment work. The St Columba Hall was not used during 2024 except as toilet facilities so incurred some cleaning costs until its demolition in the autumn. The balance of the fund has been transferred to the SC Dev fund and all hires now take place in the church so go into the General Fund..

£50k was withdrawn from the SC Development investment account to partly fund the work at St Columba Church to install toilets and a kitchen.

Gains on Investments during 2024 were £24,513 compared £81,230 in 2023. The The total funds of the Parish are now £1,648,518 (£1,832,220 in 2023) although £297,270 is in Endowment funds of which the Parish can only use the interest and £1,281,475 is in Restricted or Designated funds for particular projects. This reduction in funds reflects the work at St Columba and the writing off of £100k being the value of the SC Hall in last year’s Annual Accounts.

The PCC would like to thank the generosity of the Parish and community who have made donations during the year.

11

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Investment Policy

The PCC has in place the following investment policy.

Reserve Policy

It is the policy of the PCC to hold in freely accessible reserves for the general fund and any operating restricted reserve (see below) an equivalent of at least four months of expenditure.

It is also the policy of the PCC that where funds become insolvent at the year end, and the budget indicates that those funds will not recover within a year, a transfer from the General fund will be made. If the General fund is insolvent, transfers will be made proportionally from all the designated funds.

The funds covered by this reserve policy and their current level of reserves are as follows:

Required in In reserves as In excess of/
Fund reserves at 2024 (short by)
£ £ £
General Fund 58,189 69,773 11,584
Messy Church (restricted) 438 3,026 2,588
HT Hall (restricted) 5,043 8,635 3,592

Note : The SC Hall fund has been closed as the hall no longer exists, all hirings and activities now take place in St Columba Church.

12

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the Annual Report and the Financial Statements in accordance with the applicable law and United Kingdom Generally Accepted Accounting Practice.

Charity law requires the trustees to prepare finance statements for each financial year that give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

13

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Independent Examiner’s Report

To the members of the Holy Trinity with St. Columba Parochial Church Council

I report on the accounts of the PCC for the year ended 31 December 2024, which are set out on pages 15 to 32.

Respective responsibilities of the PCC and the examiner

The members of the PCC are responsible for the preparation of the accounts who consider for this financial year an audit is not required under section 144 of the Charities Act 2011 (the 2011 Act) or the Church Accounting Regulations 2006 (the Regulations) and that instead, an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission and the Church guidance, 2006 edition. 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence 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 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:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act and the Church Accounting Regulations

  4. have not been met; or

  5. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Nigel Smith, BSc (Econ), CPFA Fareham Hampshire PO14 3SU

Date: 15 April 2025

14

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Statement of Financial Activities For the year ended 31[st] December 2024

2024 2023
Notes Unrestricted Designated Restricted Endowment Total Total
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
Incoming and endowments from:
Donations and legacies 2 129,710 100 7,840 – 137,650 134,418
Charitable activities 3 12,523 4,041 -
–		 16,564 17,315
Other trading activities 4 2,048 56 14,291 – 16,395 17,375
Investment income 5 480 17,891 7,868 9,954 36,193 35,419
Other income 6 14,548 0 2,578 - 17,126 26,552
Total income 159,309 22,088 32,577 9,954 223,928 231,079
Expenditure on:
Raising funds 7 999 - 308 - 1,307 898
Charitable activities 8 151,001 7,592 41,757 1,136 201,486 191,975
Other incl Support costs 10 22,566 31,475 168,510 6,799 229,350 38,716
Total expenditure 174,566 39,067 210,575 7,935 432,143 231,589
Net gains/(losses) on investments 897 11,971 3,454 8,191 24,513 81,230
Net income/(expenditure) (14,360) (5,008) (174,544) 10,210 (183,702) 80,720
Transfers between funds
Gross transfers between funds – in 83,267 - 69,457 - 152,724 4
Gross transfers between funds – out (32,689) (101,533) (18,502) - (152,724) (4)
Net movement in funds 36,218 (106,541) (123,589) 10,210 (183,702) 80,720
Reconciliation of funds
Total funds brought forward 33,555 616,321 895,284 287,060 1,832,220 1,751,500
Total funds carried forward 69,773 509,780 771,695 297,270 1,648,518 1,832,220

15

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Balance Sheet

As at 31[st] December 2024

2024 2023
Total Total
Notes Funds Funds
£ £
Fixed assets
Tangible assets 16 506,641 613,264
Investments 17 900,469 977,510
1,407,110 1,590,774
Current assets
Stocks 18 - -
Debtors 19 3,521 9,235
Cash at bank and in hand 20 256,048 259,086
259,569 268,321
Liabilities
Creditors: amounts due in one year 21 18,161 26,875
Net current assets 241,408 241,446
Total assets less liabilities 1,648,518 1,832,220
The funds of the Parish
General fund 24a 69,773 33,555
Designated funds 24b 509,780 616,321
Restricted funds 24c 771,695 895,284
Endowment funds 24d 297,270 287,060
Total funds of the Parish 1,648,518 1,832,220
Signed on behalf of the PCC … 16 April 2025 16 April 2025
Rev Dr Sam Cullen
Chair

16

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Statement of Cash Flows

For the year ended 31[st] December 2024

Notes
Cash flows from operating activities
Net cash provided by operating activities
22
Cash flows from investing activities
Dividends, interest and rents from investments
Less dividends re-invested
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Proceeds from the sale of investments
Purchase of investments
Net cash provided by investing activities
Cash flows from financing activities
Repayments of borrowing
Cash inflows from new borrowing
Receipt of endowment
Net cash provided by financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting period
23		 2024
Total
Funds
£
(140,785)
36,193
(13,446)
-
-
180,000
(65,000)
137,747
–
–
–
–
(3,038)
259,086
256,048		 2023
Total
Funds
£
(33,166)
35,419
(12,807)
-
-
-
-
22,612
–
–
–
–
(10,554)
269,640
259,086

17

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements For the year ended 31[st] December 2024

1 Accounting Policies

Basis of preparing the accounts

The financial statements have been prepared under the Charities Act 2011 in accordance with all applicable accounting standards as modified by the Church Accounting Regulations 2006 and the Statement of Recommended Practice for Accounting and Reporting SORP FRS 102 Second Edition (effective 1st January 2019) issued by the Charity Commissioners for England & Wales.

The particular accounting policies adopted are set out below.

Accounting convention

The financial statements have been prepared on an accruals basis under the historical cost convention as modified for the revaluation of property and investments assets. The financial statements 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, nor those that are informal gatherings of church members.

Recognition of Income

Income from donations, Gift Aid claims, dividends and hall hiring are recognised in the year that they relate to. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Pledged giving, loose plate collections and interest are recognised when received.

All incoming resources are accounted for gross and are shown separately from any direct expenditure incurred.

Recognition of expenditure

Expenses are recognised in the year that they relate to. The cost of raising funds, charitable activities and other costs are detailed in the notes to the accounts.

Each year the PCC aims to make grants and donations (Parish Giving) based on a percentage of pledge income received, further details are given in note 9 of the accounts.

VAT on expenditure is irrecoverable and as such all expenditure within the financial statements are shown at the gross amount. Where VAT can be reclaimed as part of the Listed Places of Worship Grant scheme, the expenditure is still shown as gross with the income from the grant being recognised as income upon receipt.

Recognition of liabilities

Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the SORP.

Fund Structure

Unrestricted funds are general funds, which can be used by the PCC for ordinary purposes.

Designated funds are those initially received as unrestricted funds but are designated by the PCC for specific purposes. Details of designated funds are given in note 24 to the accounts.

Restricted funds represent income from specific activities and trusts which are only to be spent in accordance with the stipulations set out at the time of the donation. Any balance remaining unspent at the end of each year is carried forward to be used in future years.

The endowment funds relate to the Helen Butter Waddell-Boyd Will Trust. The capital must be maintained and only the income gained from investing the endowment may be spent in accordance with the stipulations of the trust.

18

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued)

1 Accounting Policies (continued)

Fixed assets

Fixed assets are depreciated over their estimated useful economic lifetime. Where this is unknown or is difficult to determine, the default policy under Equipment, Fixture and Fittings are used. The following depreciation policies were used during the year:

Equipment, Fixture and Fittings 20% straight line (over 05 years) Organs 10% straight line (over 10 years) Solar Panels 04% straight line (over 25 years)

Consecrated and beneficed property is excluded from the accounts under section 10(2) to (4) of the Charities Act 2011.

Note: Following the demolition of St Columba Church Hall it has been identified that St Columba Church appears to have been dedicated but not consecrated. Therefore a valuation should be included in future Balance Sheets. This will be done from the 2025 accounts.

Moveable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for 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 before 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 1st January 2000 have been capitalised and depreciated in the accounts over their estimated useful economic lifetime on a straight-line basis. All expenditure incurred during the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings acquired before 1st January 2000 are written off.

Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently revalued at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on these revaluation and disposals throughout the year.

The PCC does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the PCC is that of volatility in equity markets and investment markets.

Stock

Stock is valued at the lower of cost or net realisable value. Stock counts are taken at least annually on or as close to 31[st] December as practically possible. There are no stocks currently held in the Parish.

19

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued )

2 Analysis of income from donations and legacies

Gift Aided pledged giving
Gift Aid recovered on pledged giving
Non-gift Aided pledged giving
Loose plate
General donations
Gift aid recovered on donations
Specific donations
Legacies received
Grants received
Total donations and legacies		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2024
Total
Funds
£
2023
Total
Funds
£
80,454
-
-
-
80,454
81,089

23,225
-
-
-
23,225
20,272
1,728
-
-
-
1,728
5,844
2,743
-
-
-
2,743
2,800
6,047
-
-
-
6,047
2,377
98
-
-
-
98
2,727
13,415
100
2,840
-
16,355
3,559
2,000
-
-
-
2,000
10,000
-
–
5,000
–
5,000
5,750
129,710
100
7,840
–
137,650
134,418

3 Analysis of income from charitable activities

Donations for use of churches
Parish events
Friendship Group
PCC Fees
Total income from charitable
activities		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2024
Total
Funds
£
2023
Total
Funds
£
9,661
-
-
-
9,661
10,353
80
-
-
-
80
-
-
4,041
-
-
4,041
3,588
2,782
-
-
-
2,782
3,374
12,523
4,041
-
-
16,564
17,315

4 Analysis of income from other trading activities

Analysis of income from other trading activities
HT Hall letting income
SC Hall letting income
Fairs and fundraising income
Sale of cards & books
Card fees
Total other trading activities		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2024
Total
Funds
£
2023
Total
Funds
£
-
-
13,824
-
13,824
11,877
-
2,039
43
-
58
-
-
479
-
-
-
-
-
2,576
43
4,426
1,104
-
(34)
(2)
(12)
-
(48)
(32)
2,048
56
14,291
-
16,395
17,375

20

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued )

5 Analysis of investment income

Analysis of investment income
Investment income
Dividends received
Interest received
Other Investment Income
Total investment income		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2024
Total
Funds
£
2023
Total
Funds
£
207
-
-
2,290
2,497
14,691
273
17,891
7,868
6,708
32,740
20,728
-
-
-
956
956
-
480
17,891
7,868
9,954
36,193
35,419

6 Analysis of other income

6
Analysis of other income
Car park and ground rents
Other incoming resources
Total other income		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2024
Total
Funds
£
2023
Total
Funds
£
13,907
-
-
-
13,907
8,882
641
-
2,578
-
3,219
17,670
14,548
-
2,578
-
17,126
26,552

7 Analysis of expenditure on raising funds

Stewardship expenses
Catering and refreshment
expenses
Fairs and fundraising
expenses
Total raising funds		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2024
Total
Funds
£
2023
Total
Funds
£
349
-
-
-
349
146
342
-
308
-
650
752
308
-
-
-
308
-
999
-
308
-
1,307
898

21

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued )

8 Analysis of expenditure on charitable activities

Parish event expenses
Parish giving – Overseas
Parish giving - National Agencies
Parish giving - Local Charities
Parish & Deanery share
Clergy travel costs
Clergy telephones
Clergy post and stationery
Clergy books and publications
Clergy hospitality
Clergy miscellaneous costs
Clergy housing costs
Altar requisites
Church flowers
Training, education and books
Friendship Group
Messy Church & Little Fishes exp
Childrens Work Exps
Sundry general donations
HT organist and choir
SC organist and choir
Depreciation
HT Heat, light and water
HT Insurance
HT Repairs
HT Miscellaneous
HT Church cleaning
HT Upkeep of grounds
SC Heat, light and water
SC Insurance
SC Repairs
SC Miscellaneous
SC Church Cleaning
SC Upkeep of grounds
HT Hall Heat, light and water
HT Hall Insurance
HT Hall Repairs
HT Hall Cleaning
HT Hall Sundries
SC Hall Insurance
SC Hall Repairs
SC Hall Cleaning
Total expenditure on charitable
activities		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2024
Total
Funds
£
2023
Total
Funds
£
-
-
-
-
-
-
2,054
-
-
-
2,054
1,862
2,054
-
-
-
2,054
2,793
2,054
-
-
-
2,054
1,862
106,498
-
-
-
106,498
101,426
272
-
-
118
390
(48)
-
72
-
99
171
72
-
-
-
-
-
-
141
-
-
233
374
26
168
-
-
77
245
-
369
100
628
72
1,169
40
-
-
-
537
537
-
806
-
66
-
872
415
-
-
420
-
420
532
1,390
-
148
-
1,538
176
-
2,954
-
-
2,954
2,657
-
-
1,143
-
1,143
1,303
-
-
506
-
506
292
-
-
-
-
-
510
62
234
-
-
296
673
2,125
-
-
-
2,125
1,953
-
-
6,623
-
6,623
6,623
8,694
-
-
-
8,694
6,305
2,373
-
-
-
2,373
2,062
4,083
4,232
-
-
8,315
8,184
1,031
-
2,620
-
3,651
1,008
118
-
-
-
118
-
60
-
-
-
60
-
9,393
-
-
-
9,393
13,629
1,302
-
-
-
1,302
689
278
-
-
-
278
1,750
1,346
-
-
-
1,346
5,862
1,387
-
-
-
1,387
538
585
-
-
-
585
3,699
-
-
5,959
-
5,959
9,924
-
-
2,373
-
2,373
2,062
-
-
13,628
-
13,628
725
1,812
-
6,061
-
7,873
8,458
-
-
148
-
148
386
-
-
703
-
703
1,378
-
-
-
-
-
56
546
-
731
-
1,277
2,093
151,001
7,592
41,757
1,136
201,486
191,975

22

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued)

9 Analysis of grants and donations payable by the PCC

Each year, the PCC aims to make grants and donations to other charities equal to approximately 7½% of the pledge income received during the year. Additionally, special collections are held during the year for various charities at weddings, funerals, baptisms, and other special services. These special collections are not recognised as income and are instead held on the balance sheet as a liability until such time as they are paid.

In 2024 the decision was made by the PCC to support 6 charities for 2 years through our Parish Giving and to develop stronger links. The choices of charities were voted for by the PCC from the suggestions of the congregation.

Citizens Advice Fareham
Two Saints
The Amber Trust
The Naked Truth Project
Debt Counselling Service, Easington
Justice Defenders
Medicine Sans Frontiers
Dementia Support
Friends of the Homeless – Basics Bank
Church of England Urban Fund
The Brains trust
Water Aid
Christian Aid
Total		 2024
£
-
-
-
-
-
-
-
1,027
1,027
1,027
1,027
1,027
1,027
6,162		 2023
£
931
931
931
931
931
931
931
-
-
-
-
-
-
6,517

In addition to the above, the following special collections were held during the year.

Special collections held during the year
Alzheimer's Society
Basics Bank
Bishop’s Lent Appeal
British Legion
Children’s Society
Christian Aid
Covid 19 Emergency Fund
Crisis
HIHCT
Rotary
SCA school lunches/hampers
Two Saints
Unicef
World Day of Prayer
Total collected for charities		 2024
£
25
363
182
162
15
245
500
775
250
81
524
558
-
368
4,048		 2023
£
-
355
34
156
-
-
200
486
346
-
900
479
175
-
3,131

23

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued)

10 Analysis of other costs

Other costs
Subscriptions
Printing and stationery
Postage
Office Telephone
Salaries
Employer’s pension & NI
contribution
Legal & professional fees
SC Dev exps
Bank charges and interest
Sundry expenses
Total other costs		 Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
Endowment
Funds
£
2024
Total
Funds
£
2023
Total
Funds
£
2,394
-
-
-
2,394
1,894
2,051
-
-
14
2,065
1,992
38
-
-
37
75
150
790
-
-
-
790
642
15,340
4,386
6,510
6,787
33,023
30,484
180
-
-
-
180
318
1,379
5,829
15,055
-
22,263
2,843
-
21,260
146,970
-
168,230
-
120
-
(45)
(39)
36
257
274
-
20
-
294
136
22,566
31,475
168,510
6,799
229,350
38,716

Note: the £168,230 for SC Dev exps includes £100,000 write off following the demolishing of the St Columba Hall and £68,230 for the refurbishment of the Church. Professional fees of £20,884 relating to the development are included in the £22,263 figure.

11 Surplus for the financial year

urplus for the financial year
The Surplus for the financial year is stated after charging:
Operating leases - rent
Depreciation of owned fixed assets
taff costs and remunerations
Gross Salaries
Employer’s National Insurance
Employer’s Pension Contributions
Total		 2024
£
-
6,623
2024
£
44,269
(197)
353
44,425		 2023
£
-
6,623
2023
£
41,587
58
266
41,911

12 Staff costs and remunerations

The average number of employees during the year was 6 (2023 – 6). The average number of full time equivalent employees during the year amounted to 1.6 (2023 – 1.6).

During the year there were no employees (2023 – nil) with remunerations (full time or pro-rata) in excess of £60,000 per annum. The pension contributions are operated through NEST.

Note: the Employer’s NI figure included Employment Allowance refunds from previous years.

24

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements For the year ended 31[st] December 2024 (continued)

13 Trustees’ remunerations and expenses

No members of the PCC have received a remuneration either in the current year or the previous year. Various members of the PCC were reimbursed for sundry items that they purchased on behalf of the Parish, no unreceipted expenditure was paid to PCC members.

14 Operating Leases

At the year end, the PCC had annual commitments under non-cancellable operating leases as set out below:

Total minimum lease payments:
within one year
within two to five years
Total		 2024
£
1,094
3,282
4,376		 2023
£
1,094
4,376
5,470

At the end of 2023 the Parish entered a 5 year lease on a printer.

15 Related party transactions

During the year total donations from all PCC members while in office amounted to £22,307 (2023 - £25,342).

The Scout Group have sole use of the Scout Hut, a building owned by the PCC. During the year expenditure relating to insurance, repairs, and utilities paid for by the PCC were recharged totalling £1,012 (2023 - £1,125). The balance owed by the related party at the year end amounted to £75 (2023 – £262).

Lucy Docherty sits on the Board of Trustees for The William Price Charitable Trust representing the Parish. The Trust provides grants to the PCC, amongst other organisations, for the education of under 25s in furthering their Christian upbringing. During the year the PCC received £5,000 (2023- £5,000) from the Trust which was used to fund Messy Church and other children’s activities.

25

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued)

16 Fixed assets

.
Asset cost or
valuation
amount
At 1stJanuary 2024
Additions
Disposals
At 31stDecember 2024
Accumulated
Depreciation
At 1stJanuary 2024
Charge for the year
Eliminated on disposals
At 31stDecember 2024
Net Book Value
At 1stJanuary 2024
At 31stDecember 2024		 Hall
Property
£
600,000
–
(100,000)
500,000

-
–
–
–
600,000
500,000		 Solar
Panels
£
9,500
–
–
9,500

4,560
380
–
4,940
4,940
4,560		 Fixtures
&
Fittings
£
39,814
-
-
39,814
39,814
-
-
39,814
-
-		 HT
Kitchen
refurb
£
31,215
-
-
31,215
22,891
6,243
-
29,134
8,324
2,081		 Total
£
680,529
-
(100,000)
580,529
67,265
6,623
-
73,888
613,264
506,641

Hall Property comprises of the Holy Trinity Parish Centre (including Scout Den) at a value of £500,000. The value of the St. Columba Church Hall has been written off (2023 £100,000) as the hall was demolished during the year. The original cost of these properties is unknown and has been revalued to a nominal value. As the PCC will not be selling the Parish Centre no impairment or further revaluations are considered necessary this year.

26

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued)

17 Fixed asset investments



Valuation
Market value at 1stJanuary 2024
Additions at cost and dividends
reinvested
Disposals/transfers
Net gains/(losses) on revaluation of
investments
Market value at 31st December
2024
Investments held in the UK
Investments held outside of the UK
Total market value		 Unrestricted
Investments
Designated
Investments
Restricted
Investments
£
£
£
39,520
537,222
145,301
66,129
8,279
4,038
(65,000)
(115,000)
-
897
11,970
3,455
41,546
442,471
152,794
26,506
282,297
97,483
15,040
160,174
55,311
41,546
442,471
152,794		 HBWB
Investments
£
255,467
-
-
8,191
263,658
176,825
86,833
263,658		 Total
£
977,510
78,446
(180,000)
24,513
900,469
583,111
317,358
900,469

Investments held outside of the UK relate to holdings in Iberdrola plc. and CBF investment funds which have partial overseas holdings to which the PCC have no overall control of their investment. See note 26 for transfers and disposals.

18 Stock

There are no stocks of goods for re-sale in the Parish

19 Debtors

Gift Aid
Investment income due
Prepayments
Other debtors
Total		 2024
£
-
586
806
2,129
3,521		 2023
£
3,436
2,221
776
2,802
9,235

20 Cash at bank and in hand

Cash in hand
Current accounts
Deposit accounts
Total		 2024
£
330
125,196
130,522
256,048		 2023
£
211
114,722
144,153
259,086

27

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued)

21 Creditors: amounts falling due within one year

Trade creditors
Social security and other taxes
Special Collections creditor
Parish Giving creditor
Other creditors
Total		 2024
£
618
503
5,202
6,162
5,676
18,161		 2023
£
5,558
924
6,327
6,517
7,549
26,875

22 Reconciliation of net movement in funds to net cash flows from operating activities

Net Movement in funds
Adjustments for:
Depreciation charges
(Gains)/losses on investments
Dividends, interest and rents from investments
SC Hall value written off after demolition
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
23 Analysis of cash and cash equivalents
Cash in hand
Notice deposits (less than 3 months)
Overdraft facility repayable on demand
Total cash and cash equivalents		 2024
£
(183,702)
6,623
(24,513)
(36,193)
100,000
-
5,714
(8,714)
(140,785)
2024
£
256,048
–
–
256,048		 2023
£
80,720
6,623
(81,230)
(35,419)
-
(1,427)
(2,433)
(33,166)
2023
£
259,086
–
–
259,086

28

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements For the year ended 31[st] December 2024 (continued)

24 Analysis of individual funds

The follow analysis shows the movements within individual funds.

24a Unrestricted Funds
General Fund
Total Unrestricted
24b Designated
Dr Collin’s Memorial Fund
HT Roof Repair Fund
Memorial Garden Fund
Organ Replacement Fund
Specific Purposes Fund
St. Columba Development
Fund
Parish Capital Fund (Zodiac
site)
Total Designated
24c Restricted
Hall Property Reserve
HT & SC Flower Funds
HT Choir Fund
HT Parish Hall
HT Parish Hall Extra-
Ordinary
HT Major Projects
Messy Church/Little Fishes
Fund
Prices Trust Fund
Quest Operating Fund
Restoration Fund
SC Choir Fund
SC Hall Fund
Specific Purposes Fund
St Columba Development
Fund
Total Restricted
24d Endowment
HBWB Trust Capital
HBWB Trust Revenue
Endowment Total		 Opening
Balance
£
33,555		 Income Expenditure
Transfers
Gains/
Losses
Closing
Balance
£
£
£
£
£
159,309
174,566
50,578
897
69,773
33,555 159,309
174,566
50,578
897
69,773
12,496
80,726
551
6,270
166
269,755
246,357		 4,289
7,412
-
-
9,373
2,318
4,232
-
1,645
80,457
20
-
-
-
571
213
234
-
-
6,249
6
100
-
-
72
8,350
27,089
(36,533)
5,390
219,873
6,892
-
(65,000)
4,936
193,185
616,321 22,088
39,067
(101,533)
11,971
509,780
600,000
1,873
1,070
(5,085)
157,198
63,386
2,715
(6)
191
24,496
397
19,136
5,822
24,091		 -
100,000
–
–
500,000
264
420
-
-
1,717
40
20
-
-
1,090
13,850
15,130
15,000
-
8,635
6,617
19,660
-
3,454
147,609
2,336
-
-
-
65,722
1,625
1,314
-
-
3,026
5,000
7,302
-
-
(2,308)
7
-
-
-
198
895
-
-
-
25,391
15
-
-
-
412
51
1,389
(17,798)
- -
177
3,315
-
-
2,684
1,700
62,025
53,753
-
17,519
895,284
254,315
32,745		 32,577
210,575
50,955
3,454
771,695
-
-
-
8,191
262,506
9,954
7,935
-
-
34,764
287,060 9,954
7,935
-
8,191
297,270
1,832,220 223,928
432,143
-
24,513
1,648,518

29

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements For the year ended 31[st] December 2024 (continued)

24 Analysis of individual funds (continued)

Dr Collins Memorial Fund

During 2012, a legacy was received from the late Dr. Margaret Collins. This legacy was to be split between the two churches to use as each church council see fit. HTCC allocated part of their portion to purchasing new chairs for the Parish Centre in 2015, a coffee machine in 2016, part of the cost of the HT notice boards in 2017, a fence around the HT memorial garden and a sign at SC in 2018, a stable door for the Parish office in 2021, and in 2022, £15,350 was used to fund the Hub deficit from the SC portion. The fund continues to fund the Friendship Group.

HT Roof Repair Fund

The Holy Trinity Roof Repair Fund is a designated fund that holds a portion of the proceeds of the sale of the Miller Drive property.

Memorial Garden Fund

The Memorial Garden Fund is a designated fund to maintain the memorial garden in the grounds of Holy Trinity.

Organ Replacement Fund

The Organ Replacement Fund is a designated fund which is used for maintenance of the organs.

Specific Funds

This is a joint designated and restricted fund for the purpose of holding short-term designated and restricted income that is expected to be used within a couple of years which does not warrant the creation of a dedicated fund.

SC Development Fund

The St. Columba Development Fund is a joint designated and restricted fund. The designated fund arose from the proceeds of the sale of the Miller Drive property. The restricted reserve holds donations and income raised to develop the site at St. Columba. The cost of the toilet and kitchen additions this year was taken mainly from the designated fund and the rest from the restricted fund.

Parish Capital Fund

This designated fund contains the proceeds of the negotiations over the sale of the ransom strip within the Zodiac redevelopment as well as the Nigel Dean legacy. The PCC has decided that it is to be spent on future capital projects within the Parish. In 2024, the PCC approved the transfer of £50,000 to the General Fund to cover the deficit and £15,000 to the HT Hall to ensure there are sufficient reserves.

Hall Property Reserve

This fund now contains the nominal value of the HT Hall. In 2024, the SC Hall was demolished so the value of £100,000 was written off in the annual accounts.

HT & SC Flower Funds

The Flower Funds relate to the supply of flowers for both Holy Trinity and St. Columba for Sunday services as well as weddings and funerals.

HT Choir Fund

The Holy Trinity Choir Fund holds income received by the Holy Trinity Choir and is primarily used to purchase music & hymn books for the choir

Holy Trinity Parish Hall Fund

The Holy Trinity Parish Hall fund is one of two funds which make up the Holy Trinity Parish Hall Trust. This fund is to pay for the day to day running costs of the hall from letting income. Should a surplus arise, a contribution is made to the Extra-Ordinary Repair Fund.

30

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements For the year ended 31[st] December 2024 (continued)

- Holy Trinity Parish Hall Extra Ordinary Fund

The Holy Trinity Parish Hall Extra-Ordinary repair fund is the second of two funds which make up the Holy Trinity Parish Hall Trust. This fund holds the investments which would be used to rebuild or undertake major repair works to the hall. This fund will be used in 2025 to replace/refurbish the window frames, gutters etc. The FIT income from the solar panels goes into this fund.

HT Major Projects

The Holy Trinity Tower Fund (also known as High Time) has been renamed and relates to funds left over from the repair works required on the tower and clock at Holy Trinity (High Time Refurbishment Fund).

Messy Church/Little Fishes Fund

This restricted fund is to manage the income and expenditure relating to the Messy Church and Little Fishes children’s groups.

Prices Trust Fund

The Prices Trust Fund is a restricted fund holding the grant income received from The Prices Charitable Trust for the education of under 25s within the Parish of Fareham.

Quest Operating Fund

The Quest Operating Fund holds the remaining balance of funds used for the Quest Youth group. There has been no activity in the fund for several years and is held as a restricted fund for future Youth activities.

Restoration Fund

The Restoration Fund holds restricted donations and the legacy from the late Dennis Stevens (£11,258) meant for the restoration of Holy Trinity Church. This fund is only to be used should a major capital repair project occur.

SC Choir Fund

The St. Columba Choir Fund, similar to the HT Choir Fund, holds income received by the St. Columba Choir for the purpose of mainly purchasing music & hymn books. The choir is not currently operating.

SC Hall Fund

After the fire in 2023, the SC hall was condemned so in 2024 it was demolished and toilet and kitchen facilities built into the Church building. The balance from the fund has been transferred to the St Columba Development fund. This fund is now closed.

HBWB Fund

The Helen Butter Waddell-Boyd (HBWB) Trust is a permanent endowment whereby the capital is to be maintained (HBWB Capital Fund) and the income generated from investing the capital, can then be spent on the upkeep of the office and various expenses for the incumbent of Holy Trinity. This was originally a legacy in 1961 of £68,000 in the form of a Trust administered as a company. The value of £135,000 was transferred to the trusteeship of the PCC in 2005.

31

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

Notes to the Financial Statements

For the year ended 31[st] December 2024 (continued)

25 Analysis of assets and liabilities represented by funds

Unrestricted
Funds
£
Fixed assets
1,000
Investment asserts
41,546
Stock
-
Debtors
1,359
Cash at Bank
36,640
Current liabilities
(10,772)
Total
69,773		 Designated
Funds
£
(1,000)
442,471
–
130
68,329
(150)
509,780		 Restricted
Funds
£
506,641
152,795
-
1,616
117,882
(7,239)
771,695		 Endowment
Funds
£
-
263,657
-
416
33,197
-
297,270		 Total
Funds
2024
£
506,641
900,469
-
3,521
256,048
(18,161)
1,648,518

26 Exceptional Items and significant post Balance Sheet events

32

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

This page does not form part of the statutory accounts.

General Fund Summary Jan to Dec 2024 General Fund Summary Jan to Dec 2024
Jan-Dec Jan-Dec Jan-Dec
2024 2024 2024 variance 2023 2024 actual 2024
Actual Budget to budget Actual variance to 2023 Annual Budget
£ £ £ £ £ £
EXPENDITURE
PARISH SHARE 106,498 106,500 (2) 101,426 5,072 106,500
ClergyTravel 272 600 (329) (48) 320 600
Other ClergyCosts 678 750 (72) 87 591 750
CLERGY COSTS 950 1,350 (400) 39 910 1,350
Altar Requisites 806 400 406 415 390 400
Light,Heat & Insurance 21,762 21,400 362 22,686 (923) 21,400
Sundry 6,125 5,000 1,125 5,126 999 5,000
Organists & Choirs 2,187 2,500 (313) 2,626 (439) 2,500
Repairs,cleaning& Grounds 6,511 10,000 (3,489) 12,109 (5,598) 10,000
CHURCH COSTS 37,392 39,300 (1,908) 42,962 (5,570) 39,300
Printing,Postage,& Stationery 2,088 2,400 (312) 2,087 1 2,400
Office Telephones 790 800 (10) 642 148 800
Office Payroll Costs 15,520 15,170 350 14,879 642 15,170
StewardshipCosts 348 100 248 146 203 100
Other General Exps 3,318 3,000 318 2,225 1,093 3,000
Bank charges,Acc. & Legal fees 1,499 700 799 1,724 (225) 700
GENERAL EXPENSES 23,564 22,170 1,394 21,703 1,861 22,170
Parish Giving 6,162 7,125 (963) 6,517 (355) 7,125
TOTAL EXPENDITURE 174,566 176,445 (1,879) 172,647 1,918 176,445
INCOME
Loose Plate 2,743 2,200 543 2,800 (57) 2,200
Pledge Giving 82,182 95,000 (12,818) 86,933 (4,751) 95,000
Gift Aid received 23,323 22,000 1,323 22,995 328 22,000
PCC Fees(weddings & funerals) 2,782 4,500 (1,718) 3,374 (592) 4,500
Donations 19,461 5,000 14,461 2,943 16,518 5,000
Car Park Income 13,907 10,000 3,907 8,882 5,026 10,000
SundryIncome,Legacies & Grants 14,430 10,000 4,430 17,525 (3,095) 10,000
Interest & Dividends 480 2,000 (1,520) 1,882 (1,402) 2,000
TOTAL INCOME 159,309 150,700 8,608 147,333 11,974 150,700
Gains(Losses) on investment 897 3,413
Surplus(Deficit) thisyear (14,360) (25,745) 10,487 (21,901) 10,056 (25,745)
General Fund Balance at 1.1.24 33,555
Transferred from Designated Funds 50,578
General Fund Balance at 31.12.24 69,773

33

Charity No.1135129

Annual Report year end 31 December 2024 for Holy Trinity with St. Columba PCC

34

Charity No.1135129