# **Annual Report and Financial Statements of the Parochial Church Council**
## for the year ended
## **31 December 2024**
_“There is one body, but it has many parts. But all its many parts make up one body. It is the same with Christ.”_
1 Corinthians 12:12
## **Contents**
ANNUAL REPORT ON THE YEAR 2024 ........................................................................ 1 VICAR’S REPORT ........................................................................................................... 5 STATEMENT OF TRUSTEES’ RESPONSIBILITIES ....................................................... 7 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES ....................................... 8 STATEMENT OF FINANCIAL ACTIVITIES ..................................................................... 9 BALANCE SHEET ......................................................................................................... 10 NOTES TO THE FINANCIAL STATEMENTS ................................................................ 11 APPENDIX 1: CHRIST CHURCH PLAYGROUP .......................................................... 19 APPENDIX 2: CHRIST CHURCH FRIENDSHIP CLUB ................................................ 20 CONTACT DETAILS ..................................................................................................... 21
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **ANNUAL REPORT ON THE YEAR 2024**
## **Aims and Purposes**
Christ Church PCC has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the church: pastoral, evangelical, social and ecumenical. It also has responsibility for the maintenance of the parish church and its ancillary buildings.
## **Objectives and Activities**
Every Anglican parish church is by definition a charity. This charity exists to take the good news of Jesus Christ to the communities of Christ Church Cheltenham. The church is called to make disciples of Jesus, connecting them with God, being community together and showing compassion to others.
## **Achievements and Performance**
There were 190 members on the updated Electoral Roll presented at the APCM in 2024 (2023: 197). During 2024 we had 120 Easter communicants (2023: 142) and 190 Christmas communicants (2023: 333).
## **Financial Review**
The accounts for the year show that during 2024 there was a surplus of income minus expenditure, after gains and losses of £14,835 (2023: deficit of £23,361).
The PCC funds consist of unrestricted funds, including general funds and designated funds, and restricted funds. Designated funds are monies set aside for a particular purpose by the PCC, a decision which they can reverse. The use of restricted funds has been prescribed by the donor and is irreversible.
During the year the designated funds were:
|Youth Work|To support the provision of youth and
children’s work at Christ Church.|
|---|---|
|Development (Des) Fund|To provide for repairs, development and
re-decoration of the church buildings.|
The Fabric designated fund was not used in the year and has been closed.
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_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
The restricted funds were:
|Special Appeals|To support missions and charities.|
|---|---|
|Miss Milne Fund|To provide for lighting the church tower.|
|Friendship Club|To provide a mid-week meal and social
activities for its members.|
|Playgroup|To provide a pre-school play group facility
in the church halls.|
The restricted Development Fund has not been used in the year and has been closed.
## **Reserves Policy**
Unrestricted reserves are held to help manage short term adverse fluctuations in income or expenditure.
The PCC has a policy of aiming to hold available cash reserves, i.e excluding those backed by tangible assets or which are designated or restricted, in the range from £25,000 to £75,000.
Available cash reserves at 31 December 2024 were £48,050, which is slightly below the midpoint of the range of the PCC policy (2023: £38,049).
## **Structure, Governance and Management**
The PCC is supported by the following structure of committees, each of which reports into the PCC.
## _**Standing Committee**_
Membership: Incumbent, Lay Vice Chair, Churchwardens, Treasurer, Secretary. PCC may appoint other members to the Standing Committee as it sees fit.
40% of the members must be present for any business to be transacted. Remit: Assist the chair of the PCC in setting the agenda for PCC meetings, oversee the practical application of PCC decisions.
## _**Finance Committee**_
Membership: Incumbent, Lay Vice Chair, Churchwardens, Treasurer, Secretary. PCC may appoint other members to the Finance Committee as it sees fit.
40% of the members must be present for any business to be transacted.
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_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
Remit: Assist the Treasurer in developing the annual budget, monitor financial performance and risks.
## _**Fabric Committee**_
Membership: One Churchwarden, 3 PCC members. Other members may be co-opted as the committee sees fit.
Remit: Assist the churchwardens in ensuring the care of the goods, fabric and ornaments of the church, church grounds and other church property. Ensure compliance with all appropriate Health & Safety legislation.
## _**Worship & Ministry Committee**_
Membership: Incumbent, 3 PCC members. Other members may be coopted as the committee sees fit.
Remit: Consider the provision of services of Worship at Christ Church, encourage the prayer life of the church and lead and encourage the creation and growth of small groups.
## _**Youth & Children’s Committee**_
Membership: 3 PCC members, other members may be co-opted as the committee sees fit.
Remit: To work on behalf of all the youth & children of Christ Church to assist them in taking a full and active role in the life of the church, ensure that groups for children & youth are staffed by DBS checked adults, formulate additional ways to reach out to youth & children & their families in the parish.
## _**Environmental Committee**_
Membership: Membership: 3 PCC members, other members may be coopted as the committee sees fit.
Remit: Consider ways in which the church can reduce it’s environmental impact. Recommend initiatives to encourage Christ Church to be carbon neutral.
## **Administrative Information:**
Members of the PCC are either ex-officio or elected at the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. The PCC are, and are referred to elsewhere in this report as, the trustees.
_**Page**_ **3**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
During the year the following served as members of the PCC:
**----- Start of picture text -----**
Vicar: Rev Simon Heron
Curate: Rev Eddie Carmichael
Wardens: Susan Jenner
Philip Whitefield
Treasurer: Philip Whitefield
Secretary: Susan West
Deanery Synod Ian Kirkwood
representatives: Hilary Martin
Diocesan Synod vacant
representatives:
Co-opted Members: Tim Ingold (Director of Music)
Rebecca Waite (Chair Environment Committee)
Elected Members:
Retired in 2024 Baldwin Terera
Nanu Afua Pierre
Nicky Read
Sian Green
Retiring in 2025 Pat Hopkins
Gilly Jenkins
Brian Jenner
Martyn Young
Retiring in 2026 Richard Hayman
Martin Osborne (resigned 2024)
Susan West
Retiring in 2027 Heather Gates
Amanda Whitefield
Wendy Williams
**----- End of picture text -----**
## Signed on behalf of the trustees
________________________________ Rev Simon Heron
April 2025
_**Page**_ **4**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **VICAR’S REPORT**
I am pleased to present the annual report of Christ Church Cheltenham for the year ending 31st of December 2024. This report is a reflection of the hard work and dedication of our parishioners, staff, and volunteers who have contributed to our mission, summed up in our strap-line as “get connected, be community and show compassion.”
Looking back on the last twelve months, we are aware of just how blessed we are, even in the face of ongoing challenges. We remain reliant on God’s provision, aware that our unchanging God continues, as the prophet Isaiah suggests, to do a new thing. Innovating and adapting as necessary and being nimble of foot has meant we have been able to change when needed, whilst continuing to engage with both our church and the wider community.
Sunday by Sunday, we gather to worship God. We have tweaked our Sunday provision, introducing a new ‘Community Praise’ service on the fourth Sunday, an informal mix of traditional and contemporary, and regularising Choral Evensong on the second Sunday of the month. Both of these are growing congregations, as we can sense a spiritual hunger in our wider community, a feeling that is shared by many of our sister congregations in Cheltenham.
As we look towards achieving Net Zero at Christ Church, our scheme to add additional solar panels is moving on apace. At the time of writing, the roof of the parish centre is being fully repaired, in preparation for the installation of the panels. We are expecting completion of this project by the sunnier months, and are hopeful that we can take full advantage of the summer - whatever the British weather throws at us.
Last year, we stressed how much we’d like to use our church building more effectively during the week - and we have moved someway towards doing this. Nascent plans to make some significant alterations to the church building are in place, and we hope and pray that this report in twelve months time will speak of there having been a successful project completed.
Having reported a deficit last year, we are happy to report a surplus for 2024. The ebb and flow of church finances does make planning more interesting, but as always God provides through the generosity of our parishioners and supporters. Once again, we are grateful for the ongoing
_**Page**_ **5**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
support of so many individuals which allows us to continue doing God’s work here at Christ Church.
Finally, I would like to express my gratitude to our staff, volunteers, and parishioners for their hard work and dedication throughout the year. It is through your efforts that we are able to join others in getting connected to God, being community here and across Cheltenham, and showing compassion to a hurting world.
I am blessed to be a part of this wonderful community, and I look forward to what God will accomplish here at Christ Church in the coming year.
Yours, in Christ
Rev Simon Heron
Vicar of Christ Church Cheltenham
March 2025
_**Page**_ **6**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2015 and the provisions of the trust deed. They are also responsible for safekeeping the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the trustees
________________________________ Rev Simon Heron
April 2025
_**Page**_ **7**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
I report to the trustees on my examination of the accounts of the Parochial Church Council of Christ Church, Cheltenham for the year ended 31 December 2024 which are set out on pages 9 to 18.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner's Statement**
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Date:
Ruth Herbert FCCA April 2025 Wenn Townsend, Chartered Accountants Gosditch House, 5 Gosditch Street, Cirencester, GL7 2AG
_**Page**_ **8**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **STATEMENT OF FINANCIAL ACTIVITIES**
|**Note**
**Income and endowments from:**
Collections, donations and gifts
2
Legacies
Investment income
3
Income from operating activities
4
Other voluntary incoming resources
5
**Total income**|**Unrestricted**
**Funds**
**£**
139,197
6,272
5,765
60,085
7,550
218,869|**Restricted**
**Funds**
**£**
0
0
1,845
139,378
0
141,223|**Total**
**2024**
**£**
139,197
6,272
7,610
199,463
7,550
360,092|**Total**
**2023**
**£**
119,073
0
5,728
167,066
11,128|
|---|---|---|---|---|
|||||302,995|
||||||
|**Expenditure on:**|||||
|Activities relating directly to the work of the church
6
Mission and other charitable giving
7
Cost of fund-raising
Church management and administration
Development of church premises
Interest
Other costs
**Total expenditure**
8
Gains and losses on investments
**Net Income before transfers**
Transfers between funds
**Net movement in funds**
9|188,533
4,373
0
3,028
9,749
0
1,920
207,603
1,039
12,305
0
12,305|139,458
0
0
85
0
0
0
139,543
850
2,530
0
2,530|327,991
4,373
0
3,113
9,749
0
1,920
347,146
1,889
14,835
0
14,835|316,581
5,699
0
5,393
0
0
1,920|
|||||329,593|
|||||3,237|
|||||-23,361
0|
|||||-23,361|
|Fund balances brought forward at 1 January|211,858|75,803|287,661|311,022|
|**Fund balances as at 31 December**|224,163|78,333|302,496||
|||||287,661|
||||||
The notes on pages 11 to 18 form part of these financial statements.
_**Page**_ **9**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **BALANCE SHEET**
|**Note**
**Fixed Assets**
Tangible assets
11
Investments
18
**Current Assets**
Debtors
12
Cash at bank and in hand
13
**Creditors:**Amounts falling
14
due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
**Creditors:**Amounts falling
14
due after one year
**NET ASSETS**
**FUNDS**
Restricted funds
15
Unrestricted funds
General funds
Designated funds
16|**2024**
**£**
**£**
2,598
65,455
68,053
19,499
227,714
247,213
12,770
234,443
302,496
0
302,496
78,333
50,648
173,515
302,496|**2023**
**£**
**£**
3,593
61,950
65,543
10,318
225,702
236,020
13,902
222,118
287,661
0
287,661
75,803
41,642
170,216
287,661|
|---|---|---|
||247,213
12,770||
||||
## Approved by the trustees and signed on their behalf by:
____________________
April 2025
Rev Simon Heron
_**Page**_ **10**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1. Accounting Policies**
## **Basis of accounting**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)).
The Parochial Church Council of Christ Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The charity has applied Update Bulletin 2 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
## **Fund accounting**
Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are available for use at the discretion of the executive committee in furtherance of the general charitable objectives.
Restricted funds are amounts donated that have their use specified for a particular purpose by the donor.
Designated funds are amounts that have been set aside at the discretion of the executive committee.
## **Income**
Incoming resources represent the total income receivable during the year comprising grants, donations and gifts, rent, merchandise and publications, investment income and gifts in kind.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
_**Page**_ **11**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
- Expenditure on charitable activities includes the costs of delivering services and other activities together with their associated support costs
- Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Depreciation**
Depreciation is calculated to write off the cost of fixed assets over the estimated useful life of 5 years (3 years for computer equipment) at 20% (33.3% for computer equipment) per annum.
## **2. Collections, Donations and Gifts**
|**Unrestricted**
**£**
122,727
797
0
15,673
139,197|**Restricted**
**£**
0
0
0
0
0|**2024**
**£**
122,727
797
0
15,673
139,197|**2023**
**£**
108,100
78
0
10,895
119,073|
|---|---|---|---|
## **3. Investment Income**
|Interest and dividends|**Unrestricted**
**£**
5,765|**Restricted**
**£**
1,845|**2024**
**£**
7,610|**2023**
**£**|
|---|---|---|---|---|
|||||5,728|
||||||
## **4. Income from Operating Activities**
|Activities to further PCC objectives
Hall letting
PCC fees
Books, magazines and other sales
Playgroup
Friendship Club|**Unrestricted**
**£**
578
54,253
5,157
97
0
0
60,085|**Restricted**
**£**
0
0
0
0
133,000
6,378
139,378|**2024**
**£**
578
54,253
5,157
97
133,000
6,378
199,463|**2023**
**£**
747
40,413
3,793
0
115,602
6,511|
|---|---|---|---|---|
|||||167,066|
||||||
_**Page**_ **12**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **5. Other Voluntary Incoming Resources**
|Fund-raising events
Other donations and grants|**Unrestricted**
**£**
152
7,398
7,550|**Restricted**
**£**
0
0
0|**2024**
**£**
152
7,398
7,550|**2023**
**£**
0
11,128|
|---|---|---|---|---|
|||||11,128|
||||||
## **6. Activities Relating Directly to the Work of the Church**
|**Unrestricted**
**£**
Parish share
110,774
Clergy expenses, salaries and wages
43,464
Church and halls running costs
16,267
Church, churchyard and halls maintenance
7,220
Church services
4,421
Operating activities
6,046
Support costs
341
Playgroup
0
Friendship Club
0
188,533|**Restricted**
**£**
0
0
2,564
0
0
0
0
130,899
5,995
139,458|**2024**
**£**
110,774
43,464
18,831
7,220
4,421
6,046
341
130,899
5,995
327,991|**2023**
**£**
103,527
41,459
16,338
22,716
2,401
3,009
139
120,347
6,645|
|---|---|---|---|
||||316,581|
|||||
_**Page**_ **13**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **7. Mission Giving**
**----- Start of picture text -----**
2024 2023
£ £
A C E T (Matilda Project) *** -1,500
A Rocha International 1,000
Breast Cancer Now 242
Cheltenham Street Pastors 500
Christian Hope International *** -500
Christian Motorcyclist Association 300
Christians Against Poverty 600 500
Church Mission Society 950 500
Disasters Emergency Committee (DEC) 857
Gloucs Action for Refugees & Asylum Seekers 800
Maggies (Cheltenham) 600 500
Mission Without Borders 1,000 2,000
NHS (Cheltenham Hospital) 623
TIC+ 600 500
4,373 5,699
Comprising:
Giving from unrestricted funds 3,750 5,699
Special appeals 623 0
**----- End of picture text -----**
*** some agreed payments for 2022 could not be made, and were reallocated to other causes in 2023.
## **8. Analysis of Total Expenditure**
|Activities relating directly to work of church
Mission and other charitable giving
Cost of fund-raising
Church management and administration
Development of church premises
Interest
Other costs|**Staff Costs**
**£**
144,999
144,999|**Other**
**£**
182,104
4,373
0
3,006
9,749
0
1,920
201,152|**Depreciation**
**Total**
**£**
**£**
888
327,991
4,373
0
107
3,113
9,749
0
1,920
995
347,146|
|---|---|---|---|
_**Page**_ **14**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **9. Net Movement in Funds**
**----- Start of picture text -----**
Unrestricted Restricted 2024 2023
£ £ £ £
The net movement in funds is stated after
charging:
Depreciation 995 0 995 1,108
Independent examiner's remuneration: 1,920 0 1,920 1,920
Independent examination (estimate) 1,920 0 1,920 1,920
Adjustment relating to prior year 0 0
Parish share 110,774 0 110,774 103,527
**----- End of picture text -----**
## **10. Employees and Staff Costs**
|In aggregate the number of full and part time
persons employed during the year was:
Charitable operations - under £10,000 per person
Charitable operations - over £10,000 per person
**Unrestricted**
Staff costs were as follows:
**£**
Salaries and wages
44,262
Remuneration paid to PCC members,
close family and business connections:
Tim Ingold
10,409|**Restricted**
**£**
100,737
-|**2024**
**Number**
7
7
**2024**
**£**
144,999
10,409|**2023**
**Number**
12
6|
|---|---|---|---|
||||**2023**
**£**
142,322|
||||8,747|
## **11. Tangible Assets**
|**11. Tangible Assets**|||
|---|---|---|
|
**Cost**
1st January
Additions
Disposals
31st December|**2024**
**£**
41,541
0
0
41,541|**2023**
**£**
41,541
0
0|
|||41,541|
||||
_**Page**_ **15**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
|**Accumulated depreciation**
1st January
Charge for the year
Disposals
31st December
**Net book value**
31st December|**2024**
**Number**
37,948
995
0
38,943
2,598|**2023**
**Number**
36,840
1,108
0|
|---|---|---|
|||37,948|
||||
|||3,593|
||||
## **12. Debtors**
|Tax recoverable from collections and covenants
Other debtors, prepayments and accrued income|**2024**
**£**
14,808
4,691
19,499|**2023**
**£**
2,288
8,030|
|---|---|---|
|||10,318|
||||
## **13. Cash at Bank and in Hand**
|Cash at bank and building society|**2024**
**£**
227,714|**2023**
**£**
225,702|
|---|---|---|
||||
## **14. Creditors**
|Amounts falling due within one year
Accruals
Amounts falling due after one year
Accruals|**2024**
**£**
12,770
12,770
0
12,770|**2023**
**£**
13,902|
|---|---|---|
|||13,902
0|
|||13,902|
||||
_**Page**_ **16**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **15. Restricted Funds**
|**Balance at**
**1st January**
**2024**
**£**
Special Appeals
0
Miss Milne Fund
15,143
Friendship Club
5,711
Playgroup
54,949
75,803|**Income Expenditure**
**£**
**£**
0
0
525
-2,564
6,534
-6,080
135,014
-130,899
142,073
-139,543|**Transfers**
**Balance at**
**31st Dec**
**2024**
**£**
**£**
0
0
0
13,104
0
6,165
0
59,064
0
78,333|
|---|---|---|
Income of the Miss Milne Fund is after investment gains of £283. Income of the Playgroup Fund is after investment gains of £567.
The Special Appeals Fund is used to record collections and other income received for a named purpose.
The Miss Milne Fund comprises funds given to provide illumination of the church tower.
The Friendship Club Fund represents the activities of the Christ Church Friendship Club.
The Playgroup Fund represents the activities of the Christ Church playgroup.
## **16. Designated Funds**
|**Balance at**
**1st January**
**2024**
**£**
Youth Work
834
Development (designated)
169,382
170,216|**Income Expenditure**
**£**
**£**
0
-315
13,597
-9,983
13,597
-10,298|**Transfers**
**Balance at**
**31st Dec**
**2024**
**£**
**£**
0
519
0
172,996
0
173,515|
|---|---|---|
The Youth Work Fund comprises funds set aside to provide activities for the youth of the parish.
The Development (designated) Fund comprises funds set aside to redevelop the church building.
## **17. Insurance**
The church buildings and contents are insured for £36,400,000 (2023: £36,400,000.)
_**Page**_ **17**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **18. Investments - Quoted**
|**18. Investments - Quoted**|||
|---|---|---|
|Market value at 1st January
Additions
Disposals and maturing investments
Dividends reinvested
Gains and losses on investments
Market value at 31st December|**2024**
**£**
61,950
0
1,616
1,889
65,455|**2023**
**£**
57,395
0
1,317
3,237|
|||61,950|
||||
|**2024**
**2024**
**Holding**
**Description**
**Market Price**
**p**
**CCLA Investment Management:**
**Miss Milne Trust Fund (restricted)**
6,584.13
Church of England Fixed Interest
149.12
Securities
**Christ Church Playgroup Fund (restricted)**
13,168.26
Church of England Fixed Interest
149.12
Securities
**General Fund (unrestricted)**
24,141.82
Church of England Fixed Interest
149.12
Securities
Total Investment Value||**2024**
**Market Value**
**£**
9,818
9,818
19,637
19,637
36,000
36,000
65,455||**2023**
**Market Value**
**£**
21,682|
|---|---|---|---|---|
|||||21,682|
|||||18,586|
|||||18,586|
|||||21,682|
|||||21,682|
||||||
|||||61,950|
||||||
_**Page**_ **18**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **APPENDIX 1: CHRIST CHURCH PLAYGROUP**
## **THIS APPENDIX IS FOR INFORMATION ONLY AND DOES NOT FORM PART OF THE STATUTORY ACCOUNTS**
|**Income**
Nursery Funding
Fees (non Funding net)
Fundraising
Donations
Outings
Investment Income
Gains/(Losses) on investments
Other Income
**Total Income**|**2024**
£
112,339
19,982
305
0
374
1,447
567
0|**2023**
**Expenditure**
**2024**
£
£
87,484
Staff
103,690
24,143
Courses
255
Premises
19,600
48
Subscriptions PATA
402
0
Insurance
454
325.00
Refreshments
1,405
1,098
Consumables
1,504
971
Equipment (permanent)
718
Fundraising Costs
3,602
Administration
808
Other activities and outings
2,062
**117,671**
**Total Expenditure**
**130,898**|**2023**
**Expenditure**
**2024**
£
£
87,484
Staff
103,690
24,143
Courses
255
Premises
19,600
48
Subscriptions PATA
402
0
Insurance
454
325.00
Refreshments
1,405
1,098
Consumables
1,504
971
Equipment (permanent)
718
Fundraising Costs
3,602
Administration
808
Other activities and outings
2,062
**117,671**
**Total Expenditure**
**130,898**|**2023**
£
102,348
543
8,400
160
440
1,024
1,155
3,146
1,002
2,129|
|---|---|---|---|---|
||**135,014**|||**120,347**|
||||||
|||Excess/(Shortfall)
of Income over Expenditure
4,116||-2,676|
||||||
|Fund Brought Forward
Excess/(Shortfall)
of Income over Expenditure
Net Transfers into Fund
Fund Carried Forward|**2024**
£
54,949
4,116
0|**2023**
£
57,625
-2,676
0|||
||**59,065**|**54,949**|||
||||||
_**Page**_ **19**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **APPENDIX 2: CHRIST CHURCH FRIENDSHIP CLUB**
## **THIS APPENDIX IS FOR INFORMATION ONLY AND DOES NOT FORM PART OF THE STATUTORY ACCOUNTS**
|**Income**
Charges for lunch
Fitness class
Sales tables
Coffee
Outings (receipts)
Craft Club receipts
Investment Income
Other Income
Donations
**Total Income**|**2024**
£
3,297
890
331
201
982
370
156
15
292|**2023**
**Expenditure**
**2024**
£
£
4,372
Catering
2,161
218
Exercise class
1,040
306
Payments to speakers
754
0
Premises costs
1,200
198
Outings (payments)
274
375
Capital costs (equipment)
0
102
Donations to charity
208
Craft Club costs
260
817
Bank charges
85
225
Other Expenditure
98
**6,613**
**Total Expenditure**
**6,080**|**2023**
**Expenditure**
**2024**
£
£
4,372
Catering
2,161
218
Exercise class
1,040
306
Payments to speakers
754
0
Premises costs
1,200
198
Outings (payments)
274
375
Capital costs (equipment)
0
102
Donations to charity
208
Craft Club costs
260
817
Bank charges
85
225
Other Expenditure
98
**6,613**
**Total Expenditure**
**6,080**|**2023**
£
2,817
350
538
1,400
744
194
201
284
107
117|
|---|---|---|---|---|
||**6,534**|||**6,752**|
||||||
|||Excess/(Shortfall)
of Income over Expenditure
454||-139|
||||||
|Fund Brought Forward
Excess/(Shortfall)
of Income over Expenditure
Net Transfers into Fund
Fund Carried Forward|**2024**
£
5,711
454
0|**2023**
£
5,850
-139
0|||
||**6,165**|**5,711**|||
||||||
_**Page**_ **20**
_**Parochial Church Council of Christ Church Cheltenham Financial Statements for year ended 31 December 2024**_
## **CONTACT DETAILS**
**Parish Office** (open 9am-2pm Mon-Fri) **:** Malvern Road, Cheltenham, GL50 2JH 01242 578163 office@christchurchcheltenham.com **Vicar** (day off Saturday): Rev Simon Heron, Christ Church Vicarage, Malvern Road, Cheltenham GL50 2NU 01242 515983 vicar@christchurchcheltenham.com
## **Churchwardens:**
Mrs Susan Jenner churchwarden@christchurchcheltenham.com Mr Philip Whitefield treasurer@christchurchcheltenham.com
**Treasurer:** Mr Philip Whitefield treasurer@christchurchcheltenham.com
**Banks:** Lloyds Bank, Bexleyheath HSBC, Cheltenham
**Independent Examiner:** Ruth Herbert FCCA Wenn Townsend, Chartered Accountants Gosditch House, 5 Gosditch Street, Cirencester, GL7 2AG
_**Page**_ **21**