2025-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of The Ascension, Balham Hill

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www.ascensionbalham.org

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Diocese of Southwark

Charity Registration Number: 1136105

Report & Accounts 31 December 2025

Tandem Accounting Chartered Accountants 17 Heathville Road London N19 3AL

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report and Financial Statements 2025 Contents

	Page
Legal and administrative information	2
Report of the Parochial Church Council	3
Independent Examiner’s report to the Parochial Church Council	11
Statement of financial activities	12
Balance sheet	13
Statement of Cash Flows	14
Notes to the financial statements	15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Legal and Administrative Information For the year ended 31 December 2025

Charity Name	The Parochial Church Council of	The Parochial Church Council of	the Ecclesiastical Parish of the Ascension, Balham Hill.	the Ecclesiastical Parish of the Ascension, Balham Hill.
Charity No	1136105. The Parish was established in 1858 and is a charity which was formally registered
	with the Charity Commission on 2 February 2010.
Principal Address	Malwood Road, Balham, London		SW12 8EN.
Governing Document	Parochial Church Council Powers Measure (1956) as amended and Church Representation
	Rules.
Objective	Promoting in the ecclesiastical parish the whole mission of the Church.
Members of the PCC	The Members of the PCC who served during the year or who were serving at the date of this
	report were:
	Clergy		Marcus Gibbs	(Vicar)
			Dorothy Penniecooke	(SSM)
			Mike Addis	(Curate)
			Amanda Emberley	(Curate)
			Cara Gibbs	(SSM) (until June 2025)
	Churchwardens		David Archer
			Lynn Evans
	Elected Lay Representatives		Jamie Fergusson	(Treasurer)
			Carol Wannan
			Ali Campbell
			Luke Watson
			Tasha Ebanks Garcia	(until May 2025)
			Charlotte Mansourov
			Floyd Penniecooke
			Dan Francis	(from May 2025)
	Lay Representatives to the		Joanna Cox
	Deanery Synod		Tim Aikens
			Ali Campbell
Key Management	Those in charge of directing, controlling, running and operating the Church on a day to day
Personnel	basis are the members of the PCC and the Operations Director.
Bankers	NatWest
	Balham Branch
	128 Balham	High Road
	London SW12 9AE
Independent Examiner	John Helm ACA
	Tandem Accounting
	17 Heathville Road
	London N19	3AL
Quinquennial Inspector	Ryan Bunce	BSc(Hons) DipProjMan PGDipCHE MRICS FRSA
	Ryan Bunce	& Co
	181 Union Street
	London SE1	0LN

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2025

The Parochial Church Council of the Ecclesiastical Parish of the Ascension, Balham Hill (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2025. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)). The legal and administrative information set out earlier in this document forms part of this report.

The PCC co-operates with the incumbent in promoting the whole mission of the Church within its Parish and beyond. It also has responsibility for paid staff and the maintenance of the church building, the Vicarage (primary responsibility rests with the Diocese Board of Finance) and the property at Rokeby House.

1. Structure, Governance & Management

1.1 Trustees

The PCC is a body corporate with perpetual succession. The PCC meets monthly during the year and operates through a number of working groups which meet in addition to the full meetings of the PCC. The PCC discusses a full range of matters relating to finance, fabric, general administration and responsibility for keeping of the Electoral Roll. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.

The induction process for any individual newly-appointed to the PCC comprises an initial meeting with the Vicar and receipt of copies of:

the most recent financial statements
the Charity Commission’s guidance ‘The Essential Trustee’
the booklet ‘Trusteeship: an Introduction for PCC Members’, produced jointly by the Charity Commission and the Archbishops’ Council

1.2 Executive

The Executive has the power to transact any business of the PCC between its meetings, subject to any directives given by the PCC, and in 2025 comprised The Churchwardens, The Treasurer and The Rev Marcus Gibbs.

1.3 Church Attendance

The electoral roll is completely reviewed and revised once every six years but is updated every year in between. It stands at 182 from the 2025 APCM and is being revised for 2025.

1.4 Risk Management

The PCC’s primary concern and objective is the discipling of individuals for the glory of God. Whilst it is the PCC’s policy to trust wholly in the Lord that He will work out His purpose to this end, the PCC also acknowledges that it has a responsibility, both as individual Members and as a body of Members, for the identification and proper management of risks faced by the PCC in achieving its primary aim. The PCC has therefore assessed the major risks to which the PCC is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances. The PCC believes that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the PCC, it has established effective systems and procedures to mitigate those risks.

Ascension has a number of measures in place to mitigate risk, including a health and safety policy overseen by the Operations Director, a safeguarding policy overseen by the PCC as well as a robust pastoral structure to deal with personnel issues. Financial risk is managed by the bookkeeper and Operations Director who report to both the Treasurer and to the Executive.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2025

A brief summary of the risk register is as follows.

Operational Area	Risk	Management
Security & Safeguarding	There is a major security, safeguarding, or health & safety incident	Safeguarding – there is a safeguarding policy in place and two designated safeguarding officers. All volunteers who have direct contact with children or vulnerable adults as well as Pastoral team members are required to have a DBS, which is renewable every three years; we ensure that insurance policies are up-to-date and cover us for identified risks; we maintain up-to-date incident logs
Finances	Income and expenditure: there is a risk that expenditure could exceed income	To mitigate these potential risks the PCC has approved an unrestricted funds budget which shows a surplus of income over expenditure. Monthly management accounts are prepared comparing income and expenditure with budget; PCC officials ensure proper authorisation of expenditure in line with the target operational cash reserves of two months’ budgeted expenditure.
	Potential liabilities: there is an uninsured liability which crystallises	To mitigate this potential risk, we ensure that insurance policies are up-to- date and include employer’s liability, public liability, buildings insurance, contents insurance and property owner’s liability

1.5 Safeguarding

At Ascension we are committed to being a church that enables every person to be kept safe, as all people are made in the image of God and are precious. The church puts processes in place so that everyone knows how to follow appropriate practices.

However a challenge we face is making sure that safeguarding is understood and experienced as ‘grace’ and not just ‘law’. Safeguarding is about ensuring we respect and care for each person as a child of God, not simply about following legalistic requirements.

2025 started with a request to all parishes from Southwark Diocese to complete a lengthy safeguarding audit. This was designed to help us identify any gaps in our procedures, and it enabled us to see a few areas where we could tweak or clarify our practices. It also enabled us to recognise the value of the systems we had already set up to ensure that good practice is followed and the fact that all volunteers undertake the appropriate training and renew it when recommended. Volunteers in both church and community-facing ministries are recruited using the diocesan safer recruitment processes, and we are very grateful that the church office so efficiently undertakes the administration of all the DBS checks required.

Tim Aikens and Joanna Cox continued as the Parish Safeguarding Officers. Most of our work went on quietly in the background: with so many varied activities and events taking place at Ascension, there always seem to be more risk assessments that need to be put in place to ensure everything runs smoothly and potential problems that might arise are avoided. As ever, if you do have any ideas for developing our work, or concerns about safeguarding or safe practices, please do not hesitate in the first instance to contact us as the Parish Safeguarding Officers at safeguarding@ascensionbalham.org

Regarding the PCC's obligations to safeguard children and vulnerable adults, the members of the PCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.

Tim Aikens and Joanna Cox Parish Safeguarding Officers

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2025

2. Activities, Strategies & Public Benefit

The PCC has given due regard to the Charity Commission’s guidance on public benefit. To this end the PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:

Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers; and
Promoting Christian values, and service by members of the Church in and to their communities, to the benefit of individuals and society as a whole.

3. Review of the Year

Vicar’s Report

Dear Church Family,

As I read through the reports of this past year, I am struck by a profound sense of gratitude and awe at what the Lord is doing in our midst as we look to spread the love of God in Balham and beyond. From the quiet conversations over coffee to the bold expansion of our ministries across the country, the evidence of God’s grace at Ascension is unmistakable. We are not merely a building; we are a living, breathing testimony to the love of Jesus Christ.

A Season of Flourishing Community

This year, we have seen our values of "growing up, joining in, and spreading out" take deep root. Our Connect Groups now support 85 members, providing essential spaces for food, friendship, and scripture. It has been a joy to see new initiatives like "Soulfood for Mums" flourish, offering a safe haven for those who have just given birth.

Our Youth and Children’s ministries continue to be a source of immense energy. Whether it was the 270 people celebrating at our Pancake Parties or the "Life on Fire" youth weekend in Dorking, we are seeing a generation rising up with a hunger for God. The growth of Bubble Church at home, now averaging 130 people, and its incredible national expansion with a new £1 million grant, reminds us that God can indeed do "more than we can ever ask or imagine".

Modeling Christ’s Compassion

Our heart for the "least of these" has been expressed through extraordinary generosity and service:

Refugee Support: Our Wednesday drop-in has entered its fourth year, becoming a place where new believers are not just welcomed but woven into the fabric of our church life.
Crisis Support: Crosslight supported over 220 clients, bringing hope to those in financial despair, while Options tripled its crisis pregnancy support, providing a non-judgmental space for those in need.
Global Reach: Your "astonishing generosity" toward Medair has helped provide life-saving nutrition to 560,000 women and children in Afghanistan and protected 407,000 people from cholera in South Sudan.
Local Hospitality: The Night Shelter and Parish Coffee continue to be frontlines of grace, serving as a "warm church building" for the homeless and a "community hub" for 1,000 weekly visitors.

Stewardship and Future Hope

Even our building reflects our commitment to God’s creation. The installation of 42 solar panels is expected to reduce our carbon footprint by 2.2 tonnes annually, a practical act of worship and care for the environment. The opening of Parish Play has further transformed our space into a welcoming home for local families.

As we look beyond 2026, let us move forward not in human strength, but in the power of the Holy Spirit. We remain "hugely blessed" by our staff and volunteers, and I am daily humbled by the contributions you make. May we continue to follow faithfully where God leads, expectant that more lives will be transformed by the love of Christ in Balham and beyond.

Love,

Marcus Gibbs

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2025

Churchwardens’ and PCC Report

We are privileged to write this short report reflecting on 2025 at Ascension. We give thanks to our Lord Jesus Christ for his continued grace to our church family. Life is not always easy and we are not spared sadness within the church family from time to time. However, the love of God for us is a constant rock in the life of our church. We remain hugely blessed by our clergy, staff team and volunteers without whom the church would be simply an empty building!

With an active church like ours there is naturally a strong call on members of the church to volunteer and participate, and we are daily humbled by all the contributions that we see being made.

In January 2026 we enjoyed an encouraging leader’s day, and look forward to building prayerfully on the ideas for how we can be better disciples in serving our Lord Jesus Christ and participate in building on all that God has done in and through our church in 2025. We wish to do so not in human but in our Lord’s strength, obedient to him, to whom all thanks is due!

David Archer and Lynn Evans Church Wardens

Deanery Synod Report

Ascension is part of the Tooting Deanery, which consists of eleven Church of England churches in the Balham, Tooting and Furzedown areas, plus chaplaincies at two hospitals and one prison. In the Church of England, deaneries are geographical groups of parishes which “have the opportunity and encouragement to work in partnership with each other to celebrate and to share the Good News of Jesus Christ...”

Deanery Synod meetings three times a year focus on issues that affect our churches and give an opportunity for members to discuss challenges and gain new perspectives. In 2025 the deanery had sessions focussing on safeguarding, on work with children, and on grant opportunities that parishes can apply for. Following issues raised by synod members, deanerywide training opportunities were organised to focus on appropriate ways to work with children who may have special needs. The deanery also organised local in person safeguarding training.

All Deanery Synods are made up of lay members elected by each church, plus all the clergy serving in the deanery. In the summer of 2025, Marcus Gibbs came to the end of his 5-year term as Area Dean. Lay deanery synod members are elected for 3-year terms, so Tim Aikens, Ali Campbell, and Joanna Cox (who also serves as Deanery Secretary) continued as our deanery synod representatives serving for the 2023-26 triennium.

Joanna Cox Deanery Synod Representative

Property Report

From general maintenance to improvements, from Parish Play to essential sustainability upgrades, 2025 has been another year of progress in our stewardship of the Ascension building. Here are the key highlights:

Parish Play Construction

A major development this year was the construction of Parish Play, our dedicated children’s play area, which opened in April 2025. This project has brought new energy to our community spaces, providing a safe and welcoming environment for children and their families. We are especially grateful to several refugee volunteers who helped build the sheds, demonstrating both skill and generosity, and enriching our community through their service. We were delighted to receive a £5,000 new initiative grant from Lambeth Council, which supported the development of Parish Play and other community enhancements. This funding has been invaluable in making our vision for a family-friendly, welcoming space a reality.

Solar PV System Installation

In December 2025, we installed a solar panel system on the roof of the lower church building. This is part of our commitment to care for God’s creation and reduce the church’s impact on the environment. We could not have done this without the generosity of our church community. The funds raised through our Give to Go Green campaign were match funded by the Church of England, helping make the project possible.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2025

Here’s what this means in practical terms:

Energy generation: The system includes 42 solar panels with a total capacity of 18.27 kWp. Together they are expected to generate around 15,876 kWh of electricity each year, which is a significant portion of the electricity used in the building. This electricity helps power lights, heating systems, and other equipment used in the church’s daily life.

Lower carbon footprint: By generating clean electricity from sunlight instead of relying entirely on electricity from the grid, the church reduces its carbon emissions by about 2.2 tonnes (2,200 kg) of CO₂ each year — roughly the equivalent of taking one car off the road for a year.

Saves money: Generating our own electricity reduces how much energy we need to buy from the grid. When the panels produce more electricity than the building is using, the excess power is exported back to the grid through the Smart Export Guarantee, which provides a small additional income for the church.

Careful design: Because Ascension is a historic building, the system was designed and installed with great care. The panels sit close to the roof surface and can be removed in the future if needed, ensuring the structure of the roof is protected. They have also been positioned so they are not easily visible from the main frontage, helping preserve the appearance of the church.

In short, the solar panels are helping Ascension Church reduce emissions, lower energy costs, and care responsibly for both the building and God’s creation.

Building Inspections and Maintenance

Routine inspections this year confirmed the building remains in excellent condition:

External repairs to brickwork, stonework, and roofing continue to maintain a weather-tight and secure structure.
Internal spaces, including the Parish Coffee area, remain in excellent condition for community use.
Heating, electrics, and fire safety systems are fully operational, with only routine maintenance required.
Grounds and gardens continue to be beautifully maintained, creating an inviting environment for all visitors.

The last quinquennial inspection was undertaken in 2023. The main observation was that the church building is generally in good condition and well maintained, with no major causes for concern.

Other Works

Additional works, including general upkeep and improvements to halls and ancillary spaces, have been recorded in our comprehensive Log of Works Register, ensuring every project is documented and tracked for the long-term care of the building.

People to thank

We are deeply grateful to everyone who contributed to the maintenance, improvement, and sustainability of Ascension this year:

Refugee volunteers, for their invaluable work on building Parish Play.
Gary Brewster, who was once a homeless guest at Ascension. Gary began helping by picking up the hoover and doing small volunteer tasks around the church, gradually building his skills and confidence. Over time, he worked into a contractor position and has recently secured his own accommodation. His journey is a powerful reminder of the transformative impact of community, care, and opportunity.
Milverton Bailey, for tending the gardens tirelessly.
Greensleeves, for keeping our lawns healthy.
Monika, for maintaining cleanliness across the site.
Mark Czyher, Site Manager, for overseeing projects across the building and grounds.
Marina Tucker, Church Manager, for excellent project leadership and operational management.
James Rhodes, for continued electrical and lighting upgrades.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2025

Green Tree Safety Ltd, for Health & Safety and Fire Safety inspections.
Anthony Taute and the team at Hashtag, for responsive maintenance and repairs.
Maracom, for keeping heating systems reliable.
Ian Howe, for keeping our gutters clear.
Finally, our sincere thanks to the Church Wardens, PCC, staff, and Reverend Marcus for guiding priorities and ensuring Ascension remains a safe, welcoming, and sustainable space for worship and community life.

Dan Francis

Operations Director

4. Financial Review

As a consequence of generous historic giving, we started 2025 in a strong position with reserves significantly exceeding our reserves policy, but also with a feeling within the PCC and the congregation that we were being called to do more to put the fruit of that abundance to work.

Whilst a growing church needs to maintain a prudent level of reserves, we are always mindful that our purpose is to use the resources we steward to grow the Kingdom of God. Holding on to more than we realistically need does not fully honour that mission. With that in mind, our budget for 2025 included plans to reduce our reserves by approximately £105,000. In recent years we have done much to invest in the fabric of the building and to make it a warm and welcoming space within our community. Our focus for 2025 was to be able to sustain and grow our ministry activities, including the continued development and roll out of Bubble Church, the Crosslight debt counselling service, Parish Coffee and our youth and children’s ministry.

We continue to be grateful to God for his provision and to the congregation for their generosity.

Income

Total income in 2025 was £671,479 (2024: £625,364), this was significantly higher than the £534,000 that we had budgeted. Income was ahead of budget expectations in most areas with regular giving exceeding budget by approximately £31,719, but the largest increase was the unbudgeted income of £64,764 in Bubble Church funding.

Overall donations and legacies remained strong at £426,094 (2024: £405,481), including Gift aid of £67,986, legacies of £25,000 and grants of £16,511. Income from lettings and Parish Coffee was £156,429 (2024: £149,568). Bubble Church funding contributed a further £64,764 (2024: £67,244), supporting the continued expansion of the initiative beyond Ascension.

Parish Coffee

We have continued to see Parish Coffee grow as a welcoming environment that is enjoyed by both the congregation and the local community. The aim for Parish Coffee is not to make a profit but for the café to be financially self-supporting whilst providing a place for people to meet and make use of the church building during the week. Café income increased to £82,588 (2024: £70,629). Direct operating costs were £77,643, leaving a modest operating surplus of £4,945. This remains a good outcome for a ministry whose primary purpose is welcome, community and mission rather than commercial profit.

Expenditure

Total expenditure for the year was £745,651 (2024: £611,107). This was significantly higher than the £639,000 we had planned in our budget. Staff costs increased to £223,350 (2024: £209,800), reflecting the investment required to support a growing church and its ministries. All members of the Ascension team continue to be paid an hourly rate that is at or above the London Living Wage. The Parish Support Fund contribution increased to £98,325 (2024: £95,000), maintaining Ascension’s support for the broader work of the Diocese of Southwark.

The net result for the year was a deficit of £74,172 (2024: surplus of £14,257). The unrestricted fund deficit was £111,166 before transfers, partly offset by a restricted funds surplus of £38,480. This movement was not unexpected given the intention to make use of reserves for mission, ministry and investment in equipment, although it does underline the importance of continuing to monitor recurring income and costs carefully.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2025

Whilst recognising that correct accounting principles necessarily include depreciation expenses to account for the deterioration and replacement costs of assets over time, I am quietly pleased to note that from an operational perspective, (removing depreciation expenses) our Income of £671,478 and outgoings of £666,437 gave us a small operational surplus of £5,041 over the full year. The symmetry between our needs and His provision gives your Treasurer pause, yet again, to reflect on Matthew 6:8 and to wonder at the grace and generosity of God.

Mission Partners & Parish Support Fund

Over 2025 we continued Ascension’s commitment to support our mission partners by designating a proportion of donation income, excluding legacies, grants, café sales, rental income and one-off donations for specific projects, for this purpose. In 2025 Mission Partner giving amounted to £56,358 (2024: £26,800). This included support for Home Start Wandsworth, LICC, Medair UK, Operation Mobilisation Moldova, Options Wimbledon. We also continued our support of the broader Diocese through the Parish Support Fund contribution of £98,325.

4.2 Reserves & Reserves Policy

We have examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. We consider that, given the nature of the church’s work, free reserves should be equivalent to approximately 2 months of operational expenditure (i.e. staff salaries and building running costs, but excluding Common Fund payments, mission giving and expenditure on special discretionary projects), plus committed future expenditure on other projects, where funds permit. We are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in income and will allow the church to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2025 the church had net free reserves of £474,271 (2024: £508,125) as follows:

Total reserves Less: restricted funds Less: fixed assets Free reserves Free reserves requirement: 2 month’s budgeted routine expenditure Church fabric related projects Free reserves requirement	2025	2024 £ 1,399,100 (50,828) (840,147)
	£

	1,324,928
	(29,210)
	(821,447)

	474,271	508,125

		90,000 160,000
	90,000
	40,000

	0	250,000

This leaves us in a strong financial position and will enable the church to continue to invest in its work and mission in 2026. We have budgeted for a deficit of £106,000 for the year ahead and continue to trust in God and listen carefully for his guidance in the sensible use of the resources he has so generously provided us with.

4.3 Investment Policy

Funds in excess of immediate working capital requirement are placed in bank deposit accounts.

4.4 Grants Policy

The Church makes grants, equivalent to approximately 10% of its unrestricted income annually 10% (less legacies, grants, café sales, rental income and one-off donations for specific projects), to support charitable and missionary endeavours both in the UK and abroad. The policy of the PCC is to give grants on the basis that they are subject to regular review and only renewed on the basis of meeting set criteria. The organisations regularly supported in 2025 included Operation Mobilisation Moldova, Homestart Wandsworth, Medair UK, Options Pregnancy Resource Centre and the London Institute for Contemporary Christianity (LICC). For details of grants made, see note 4b.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Parochial Church Council For the year ended 31 December 2025

Thanks to the finance team

I would like to thank, Dan and Ransford personally for all the hard work that they put in behind the scenes in keeping the Ascension’s accounts and finances in good order throughout the year. My thanks are also due to John Helm at Tandem Accounting for his diligent work in undertaking an independent examination of our accounts.

5. Plans for Future Periods

Looking ahead to the 2026 year, we have again set an ambitious budget.

We expect costs to rise again this year as inflation and National Insurance increases take effect, but we also plan to make use of some of our reserves to develop the projects and outreach plans that have already been started.

Our budgeted expenditure should result in a deficit of approximately £106,000 in 2026 for the normal operating activities of the church and we have plans to spend capital on ongoing improvement works. These include the replacement of the cabin that has been used for youth work and children’s groups, and better utilise the space currently occupied by the organ.

6. Responsibilities of Trustees for the Financial Statements

The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the income and application of income of the charity for that period.

In preparing those financial statements, the PCC is required to:

select suitable accounting policies and apply them consistently;
observe the methods and principles of the Charities SORP
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.

The PCC is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity Accounts and Reports Regulations 2008 and the provisions of the governing document. The PCC is 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. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.

7. Approval

The report of the PCC was approved by the PCC on 11 May 2026 and signed on its behalf by:

Jamie Fergusson Treasurer

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Report of the Independent Examiner to the Parochial Church Council of The Ascension, Balham Hill For the year ended 31 December 2025

I report on the accounts of the Parochial Church Council of the Ascension, Balham Hill for the year ended 31 December 2021, which are set out on pages 12 to 24.

Respective responsibilities of PCC and examiner

The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed. The charity’s gross income exceeds £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

It is my responsibility to:

examine the accounts (under section 145 of the 2011 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
to state whether particular matters have come to my attention.

Basis of independent examiners’ report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, 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 examiners’ statement

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 that in any material respect:

accounting records were not kept in respect of the church as required by section 130 of the Act; or
the accounts do not accord with those records; or
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.

John Helm Chartered Accountant

11 May 2026

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Statement of Financial Activities For the year ended 31 December 2025

Unrestricted Funds 2025 £ 389,706 20,442 156,429 3,750 -		Unrestricted Funds 2024 £ 384,319 1,701 149,568 1,370 -	Total 2024 £ 405,481 1,701 149,568 1,370 67,244
	Total
	2025
	£

	426,094
	20,442
	156,429
	3,750
	64,764

570,327		536,958	625,364
	671,479

90,353 591,140 1,486 681,493 - (111,166) 60,098 - (51,068) 1,348,272 1,297,204		75,518 485,511 -	75,518 485,511 50,078

	90,353
	592,528
	62,770

		561,029	611,107
	745,651

		-	-

	-

		(24,071)	14,257
	(74,172)

		2,515 -	- -
	-
	-

		(21,556)	14,257
	(74,172)


		1,369,828	1,384,843
	1,399,100

		1,348,272	1,399,100
	1,324,928

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Balance Sheet As at 31 December 2025

Restricted Funds 2025 £ - -		Total 2024 £ 1,486 841,426
	Total
	2025
	£

	-
	821,447

0 - 29,210 29,210 - 29,210 29,210 29,210 - - 29,210		842,912 114,185 475,259
	821,447

	70,609
	444,297

		589,444 33,256
	514,906

	11,425

		556,188
	503,481

		1,399,100
	1,324,928

		50,828 1,269,271 79,001


	29,210

	1,216,717
	79,001

		1,399,100
	1,324,928

The financial statements were approved by the PCC on11 May 2026 and signed on its behalf by:

Jamie Fergusson Treasurer

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Statement of Cash Flows For the year ended 31 December 2025

Note Net cash flows from operating activities 13 Cash flows from investing activities: Dividends, interest and rents from investments Purchase of property, plant and equipment Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents brought forward Cash and cash equivalents carried forward	Unrestricted Funds 2025 £ 32,673 3,750 (58,532) (54,782) (22,109) 437,196 415,087	Restricted Funds 2025 £ (8,853) - - 0 (8,853) 38,063 29,210		Total 2024 £ (10,247) 1,370 (10,401) (9,031) (19,278) 494,537 475,259
			Total
			2025
			£

			23,820


			3,750
			(58,532)

			(54,782)


			(30,962)

			475,259

			444,297

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102)). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at market value.

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 an affiliation to another body or those that are informal gatherings of church members.

The PCC meets the definition of a public benefit entity under FRS 102.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received.

The income from trading activities includes rental income from the letting of church premises which is accounted for when earned. It is shown gross, with the associated costs of generating the income included in fundraising costs.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.

Grants payable are payments made to third parties in furtherance of the PCC’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the PCC.
Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.

The PCC contributes to certain employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the charity. The cost in the accounts is the amount of contributions paid and payable during the year.

Taxation

As a charity, the PCC is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the PCC.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

1. Accounting Policies (continued)

Intangible Fixed Assets

The cost of a trademark has been capitalised and is being amortised over 5 years.

Tangible Fixed Assets

Consecrated Property and Moveable Church Furnishings

Consecrated land and benefice property such as the church building and vicarage is excluded from the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Leasehold Land & Building

The leasehold land and building, represented by the residential accommodation at nos 24 and 29 Rokeby House, Lochivar Street, London is stated at market value. The buildings will be revalued on a 5 yearly basis. Depreciation is provided on a straight line basis over the term of the lease.

Other Fixtures, Fittings & Office Equipment

The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a reducing balance basis over the effective useful life of the asset, which has been estimated as 4 years.

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the PCC.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

2. Income

2. Income
Donations & legacies Offerings and donations Income tax reclaimed Legacies Grants Charitable activities Toddlers and Dads & Kids Weekend away/retreat Fee income (net) Other trading activities Lettings income Café income Investments Bank Interest Other (Bubble Church)	Unrestricted Funds 2025 £ Restricted Funds 2025 £ 315,210 1,388 67,986 - 25,000 6,511 10,000 389,707 36,388 967 - 16,027 - 3,447 - 20,441 0 73,841 - 82,588 - 156,429 0 3,750 - - 64,764 570,327 101,152		Total 2024 £ 307,745 64,346 7,500 25,890
		Total
		2025
		£

		316,598
		67,986
		25,000
		16,511

			405,481 81 - 1,620
		426,095

		967
		16,027
		3,447

			1,701 78,939 70,629
		20,441

		73,841
		82,588

			149,568 1,370 67,244
		156,429

		3,750

		64,764

			625,364
		671,479

3. Expenditure on Raising Funds

Café Staff costs Depreciation Supplies Lettings Letting Management Costs Collecting agent fees	Unrestricted Funds 2025 £ Restricted Funds 2025 £ 34,958 - 9,425 - 42,685 - 2,860 - 425 - 90,353 0				Total 2024 £ 27,493 2,902 42,393 2,730 -
			Total
			2025
			£


			34,958
			9,425
			42,685

			2,860
			425

					75,518
			90,353

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

4. Expenditure on Charitable Activities

Common Fund Church Life & Outreach Missionary & Charitable Giving (note 4b below) Provision of Office & Support Provision of Buildings and Facilities Governance costs	Unrestricted Funds 2025 £ Restricted Funds 2025 £ 98,325 - 197,389 - 56,753 1,388 93,808 - 142,225 - 2,640 - 591,140 1,388			Total 2024 £ 95,000 167,880 26,905 82,612 111,434 1,680
		Total
		2025
		£

		98,325
		197,389
		58,141
		93,808
		142,225
		2,640

				485,511
		592,528

4a. Expenditure – staff costs

In addition to the many volunteers who give their time to the church, there were paid employees whose costs are included within each of the main cost categories of “Expenditure on Charitable Activities” (note 4 above). Their aggregate emoluments were as follows:

Gross salaries Social security costs Employer’s Annual Allowance Pension contributions Of which the following gross salaries were in relation to Key Management Personnel:	2025		2024
	£		£

	202,573		189,765
	23,091		17,051
	(10,500)		(5,000)
	8,186		7,984

	223,350		209,800


	37,674		37,674

These figures exclude the amounts paid to the Diocese for the incumbent and the curates, who are funded through the Common Fund. No employee (2024: nil) received emoluments in excess of £60,000 during the year.

The number of employees during the year was as follows:

2025	2025	2024
Number		Number

	7	5
	3	7

	10	12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

4. Expenditure on Charitable Activities (continued)

4b. Expenditure – Missionary & Charitable Giving

Giving to organisations: Home Start (UK) London Institute for Contemporary Christianity Medair UK Operation Mobilisation Moldova Options Wimbledon Evangelical Alliance Giving to individuals		Unrestricted Funds 2025 £ Restricted Funds 2025 £ 10,546 - 10,822 - 13,346 - 10,822 - 10,822 - 100 - 295 1,388 56,753 1,388				Total 2024 £ 7,600 4,800 4,800 5,200 4,400 100 5
				Total
				2025
				£

				10,546
				10,822
				13,346
				10,822
				10,822
				100

				1,683

						26,905
				58,141

5. Expenditure - Other

Bubble Church	Unrestricted Funds 2025 £ Restricted Funds 2025 £ 1,486 61,284				Total 2024 £ 50,078
			Total
			2025
			£

			62,770

This represents costs incurred in relation to the Bubble Church project initiative. Related income has been disclosed within Other Income.

6. Net Income

This is stated after charging: Depreciation of intangible fixed assets Depreciation of tangible fixed assets Independent examination fee		2025		2024
		£		£

		1,486		495
		78,511		21,048
		2,640		1,680

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

7. Intangible Fixed Assets

Cost At 1 January 2025 Additions Disposals At 31 December 2025 Amortisation At 1 January 2025 Charge For Year Disposals At 31 December 2025 Net Book Value At 31 December 2025 At 31 December 2024		Trademark
		£

		2,476
		-
		-

		2,476


		990
		1,486
		-

		2,476


		0

		1,486

8. Tangible Fixed Assets

Cost At 1 January 2025 Additions Revaluation At 31 December 2025 Depreciation At 1 January 2025 Charge For Year Revaluation At 31 December 2025 Net Book Value At 31 December 2025 At 31 December 2024	Leasehold land & building £ Fixtures, fittings & equipment £ 795,000 312,384 - 58,532 - - 795,000 370,916 25,245 240,713 7,810 70,701 - - 33,055 311,414 761,945 59,502 769,755 71,671

			Total
			£

			1,107,384
			58,532
			-

			1,165,916


			265,958
			78,511
			-

			344,469


			821,447

			841,426

All of the fixed assets are used for charitable purposes. The leasehold land and building comprise the flats at 24 & 29 Rokeby House , Lochinvar Street, London, SW12 8PX. Flat 29 was revalued at 31 December 2022 to £350,000 using local sold prices as comparators.

During the year, the PCC undertook a detailed review of the tangible fixed asset register. This review identified that a number of historic assets had not been consistently recorded or maintained and, in some cases, could not be physically verified or reliably matched to items currently in use.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

8. Tangible Fixed Assets (continued)

As part of this exercise, assets held at 31 December 2023 have been fully depreciated, resulting in an additional depreciation charge of approximately £45,000 in the year. The PCC considers that this treatment results in a more reliable and relevant presentation of the charity’s fixed assets at the balance sheet date.

Following this review, improved procedures have been implemented for the recording and monitoring of fixed assets, including the use of a formal fixed asset register within Xero, with clearly defined capitalisation thresholds and depreciation policies.

9. Debtors

Income tax recoverable Accrued income Other debtors Prepayments		2025
		£

		64,503
		2,465
		2,712
		929

		70,609

10. Creditors - Amounts Falling Due Within One Year

Accruals Other creditors including taxation and social security Other creditors Deferred income Rent deposit		2025		2024 £ 3,892 5,444 5,690 16,272 1,958 33,256
		£

		2,160
		3,598
		3,709
		-
		1,958

		11,425

11. Restricted Funds

11a Current Year Other Churches Fund Leaving Gift Bubble Church Solar panels New Cabin		At 1 January 2025 £ 479 0 29,187 21,162 0 50,828		Income £ - 1,388 64,764 10,000 25,000 101,152	Expenditure £ - (1,388) (61,284) - - (62,672)	Transfers £ Gains/ (losses) £ - - - - (32,667) - (27,431) - - - (60,098) 0	Transfers £ Gains/ (losses) £ - - - - (32,667) - (27,431) - - - (60,098) 0	At 31	At 31
								December
									2025
									£

									479
									0
									0
									3,731
									25,000


									29,210

The transfer from restricted Bubble Church to unrestricted was to recognise costs incurred in prior periods by the unrestricted fund on behalf of Bubble Church. The transfer from restricted Solar Panels to unrestricted was in respect of the installation made in 2025 which was also capitalised.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

11. Restricted Funds (continued)

11b Prior Year Other Churches Fund Glass Door Bubble Church Solar panels Café		At 1 January 2024 £ 479 374 12,021 0 2,141 15,015		Income £ - - 67,244 21,162 - 88,406	Expenditure £ - - (50,078) - - (50,078)	Transfers £ Gains/ (losses) £ - - (374) - - - - - (2,141) - (2,515) 0	Transfers £ Gains/ (losses) £ - - (374) - - - - - (2,141) - (2,515) 0	At 31	At 31
								December
									2024
									£

									479
									0
									29,187
									21,162
									0


									50,828

The transfer from restricted Glass Door to unrestricted was to recognise costs incurred in prior periods by the unrestricted fund on behalf of Glass Door. The transfer from restricted Cafe to unrestricted followed a reassessment of the nature of the funds previously accounted for as restricted in error.

Descriptions of the main restricted funds are as follows:

Other Churches Fund: funds received for the purpose of giving to other churches.

Bubble Church: this fund is for financial resources generated specifically to support the expansion of the Bubble Church service beyond its current implementation at the Church of the Ascension. The funds are limited to meeting costs associated with the rollout of Bubble Church to new locations or contexts.

Solar panels: this fund comprises monies raised and grants received specifically for the purpose of implementing the installation of solar panels on the roof of the Church.

12. Unrestricted Funds

12a Current Year Income Funds Revaluation reserve Designated Fund: Mission giving	At 1 January 2025 £ 1,249,871 79,001 19,400 1,348,272	Income £ 570,327 - - 570,327	Expenditure £ (657,493) - (24,000) (681,493)	Transfers £ 46,732 - 13,366 60,098	Gains/ (losses) £ - - - 0	At 31	At 31
						December
							2025
							£

							1,209,437
							79,001
							8,766



							1,297,204

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

12. Unrestricted Funds (continued)

12b Prior Year Income Funds Revaluation reserve Designated Fund: Mission giving	At 1 January 2024 £ 1,275,227 79,001 15,600 1,369,828	Income £ 536,958 - - 536,958	Expenditure £ (534,229) - (26,800) (561,029)	Transfers £ (28,085) - 30,600 2,515	Gains/ (losses) £ - - 0	At 31	At 31
						December
							2024
							£

							1,249,871
							79,001
							19,400



							1,348,272

13. Reconciliation of net (expenditure)/income to net cash flow from operating activities

Net income for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation & amortisation charges Interest from investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activities	Unrestricted Funds 2025 £ (52,554) 79,997 (3,750) 33,576 (21,831) 35,438	Restricted Funds 2025 £ (21,618) 2,765 - 10,000 - (8,853)		Total 2024 £ 14,257 21,543 (1,370) (44,686) 9	)
			Total
			2025
			£

			(74,172)


			79,997
			(3,750)
			43,576
			(21,831)

				(10,247
			23,820

14. Operating Lease Commitments

The total future minimum lease payments under non-cancellable operating leases are payable:

Not later than one year Later than one year and not later than five years		2025
		£

		3,372
		5,320

		8,692

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE ASCENSION, BALHAM HILL

Notes to the Financial Statements For the year ended 31 December 2025

15. Related Party Transactions and Balances

Dan Francis, a member of the PCC from May 2025, was employed as Operations Manager and in this role received gross emoluments of £37,674 and pension contributions of £1,884.

The PCC made pension contributions on behalf of the following members of the PCC: Marcus Gibbs £9,200, Amanda Emberley £4,783 and Mike Addis £4,100.

The expenses of 7 (2024: 6) members of the PCC amounting to £5,017 (2024: £4,612) in relation to training, travel, subsistence and other expenses, were met during the year.

During the year members of the PCC gave a total of £54,218 (2024: £48,779) in unrestricted offerings and donations during the year.