REGIsfERFD CHA￿ BER: 1137 REPORT OF THE TRusfEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfIcAL PARtSH OF sr PANCRAS AND ST )OHN, CHICHESFER Lewys Brownlee (Chichester) Lrrnited ChartereA Mrcountants Appledram Barns Birdham Road Chichester West SuspJ P020 7EQ THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfIcAL PARISH OF ST PANCRAS AND ST JOHN. CHICHEsfER CONTENTS OF THE FINANCIAL STATEMEKrs FOR ThE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent Examin*s ReP￿t Statement of Flnancial Activities Balan￿ Sheet Cash Flow Statement Notes to the Cash FIGW Statement io Notes to the Finanaal Statements 11 to 20 Detailed Statement of ￿$￿ntial Activittes 21 to 22 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTIC&I PARISH OF sr PANCRAS AND sr JOHN, CHia4EsfER REPORT OF THE TRusfEES FOR THE YEAR END&) 31 DECEMBER 2024 The members of lthe Parochial Church Counal of SL Pancras St John (PCQ present their report aryd the financiBI 5¥aternents of the charity for the year ended 31 D￿ernber 2024. The members PCC ale the trust*s of tne charity. The Finanaal 5tstements have beep. prepared in accordance with the accounting pJl"',aes set out in Note I to the 2ccounL< ￿.CCOLlntin9 and liewrttng by LTh3rihe5: Stratemeot ￿ Recom.ryi.eD.ded Pr2ctice applicable to chAribes preparing the5r accodnts in accordance the Finanoal Rep)rting Standard applicable in "the UK an($ Republic and Ireland (￿ 102) (effective l January 2015). OBjEcrD￿ AND AcrnirrIES Objectives and aims The primary objective of St Pdncras PCC is the promotÉon of the G05pd of our Lord JesLS Christ according to the aDctrines ano practices or the Church of Englano. The PCC nas the respon5iiilty in pr￿￿Oting in the ecdesi2Stical parisn the whole mission of the Church pastordl, evangelistic, soctal and ecumenical. Vision and Valu Our vision: We are a communty seeking to grow closer to Jesus Christ and to reach out to Oth￿S, Our values: We seek to be - Prayerful - dependent and led by God; Father, Son and Holy Spirit Faithful - obedient to God's Word, the BiL4e Relational - a Christ Centred communty of all ages, thlch welcomes everyone Loving - reaching out th Chrisvs love I0￿[1V, nationally and globalty Generous - in the way we use our tine, noney and s>alls io >erve Ck,ri* and otriera. Publlc benefft The PCC strongly believe that the holding of seNces for the worship of God and the Lord Jesut Christ, preaching and expounding the Word of God, the Bible, holding dasses for the instruction of adults and children in the Word of God, and providing any other activty which will Fxomote the Word of God and lead P￿P[e to faith in the Lord Jesus Chiisi as trieir Savtour is for public benefiL ThE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PARISH OF sr PANCRAS AND ST JOHN, CHICHESTER REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AND PERFORMANCE IEW OF THE YEAR AND FUTURE DEVELOPMEKrs l. Growing Closer to Jesus Christ Worship 15 at tiie centre of the life of SL par￿aS Church. We are e5peaaiy grateful to our team of kyeachers, musiaans, tethnicians and all other5 who work so hard to ￿hance our worship. Public worship Holli Communion is celebr*,ed at 9.00am ev￿ Sunday, V￿th sermces ocGdyonally maktng space for irterviews and ttstimonies. At 10.45am there is a seNice of the WDrd wtth groups for children and young people. On the last Sunday of le month the 10.45 seNice is a family communion. All servitts have an infom)al stye with contemporary worship. Church attendance Th.ere are 175 parishioners on the chiJrch electDral ro15 (175 in 2023). The Church of Fngland a_qks LIS to record the October Sunday attendance. On Sunday momi75 gs in October the average attendance was 126 (151 in 2023). The average number of children and young FeoFle attending in Cktrtjer 2024 was 11 (13 in 2023). In addition to this a student group meets on Sunday e*nings In the Church Hall which attrdcts btheen 15 and 20 people dudng term tsme. Online engagement The 9.OQam service continues to te streamed live on YouTube every Sunday. Cktober selvices on YouTube attracted over 300 views. According to YouTutJe ana5yacs our online audieTKe is mainly ageo over 65, and it is c¥ts1t￿Y greatly apprec¢ated by thcse unable to attend church. The You Tube channel has 297 Subscribers. 2, Prayerful - dependent and led by G¢)d. Father. Son and Holy Spirit There is a b1-Wee￿Y yayer meeting in thurch on Sunday evenings knund 15 - 20 people come together to pray an intercede for the church and the world. A Prdyer Ministry Team offers prayer for individuals after each serwce, Our worshippir*g life is entsr£ed by members of trE congregation who lead intsrcesstons in the services including several families. There were also a number of opportunitres for open prayer in our servi￿. 3. Faithful - obedient to God's W¢xd, the Bible God's word is read, preached and tsught at all service& During 2024 sermon series included the flrst half of th@ NI￿rne Cre•d, rrtntnuing studies in St Luke's gospel and the 'I Am, from St John's gospel. Planning for sermon tOPiC5 for the fir which helped to build Christian community continued including the walkang group "Shamblers" who met tnroughout the year. cr￿ts tion Craft continued to meet in the church. The importsnce of keep5ng the church building c5ean '01￿ a significani challenge during the year and we are gratefijl to the dedicated volunteers from the corigregation who r051> to the challenge givir¥J their lime to serve in this way. There is o pa<￿T0., 5 be¢abie i eèTki I4ilich keeps contsct and prys ,-￿ularlY til ￿ Ip:ets tr ￿rrie o'i the iieedy or ￿u1- rierr,bery of the congregation. Jane Hatton leads this and the PrByer Min&ry Team and we were ddighted with the reintrorlucton of home communion in our tin￿ of interregnum. The Eco Church. group coninued to meet ar4S fdlowir*J Eco Chwch Bron￿ Award are helping the parish work +ov¥Erds a GolaP AwBrd. Page 2 THE PAROCHIAL CHURCH COUNCIL OF ThE ECCLESL4sfIc4L PAJIISH OF ST PANCRAS AND sr JOHN. CHICHESTER REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 Youth and children's activities Sunday groups for children and young people are now heada up by Zoe Bridle and h¥ team of voluntsc*rs. Glow group for our K52 children wos reintroduced on r￿daY evenings. A Monday after ￿h0o1 ￿ble Stu￿ TO," ttsenager5 cal,. Deeper Was run Dy Sue Bak￿ at the stsrt of the year but ￿ds 6ixontinued. Two young nejple attendod the DiOC￿n Nay Camp wth the group from Southtourne Church. Noah's Ark Parent and Toddlerfs group continued to orerote su(£essfully frthn the church. Numbers rwnained conskstent throughout the year and we are grateful to the team who continue to give th￿r time every week during tem t5me to this ministy. 5. Loving - reaching out with Christ's love locallyy th7ti￿allY and globally Men's Breakfasts took place regularly at Braswie Blanc and were wdl attended with a v3riety of 5peak¥s. There were a number of women's events induding a coffee and cake morning wtth speak&-s in the Church with ever growing numbers, During the autumn a team began pEanning ts an Apha Course ￿lch will run early in 2025. The Church On￿ again hosted the Baby Memorial Service on berialf of the St Richwd's Hospitsi Chaplaincy Team, The PCC continued to give away IOO/D of unrestricted donations to charitres through St Pancras International. A rewdmp of St Pancra5 Intemational brought ￿rne new members onto the committ& and a hlgher profile for Mission init13tives in our services. Details of grnnts made can be seen in the accounts. H￿RT - the Chichtster Churthes ￿meleSS project continued to operate from the St Pancras Church Hall. Several members of the congregation help as volLID.teers ancj one is a Trustee. Maria LJI sh, the outre2ch wo*er, spoke at St Pancras Church about HEARfs Ecumenllcal links We continue to enjoy extrllent rel3tions With neighbouring thurches. St Pancras parbcipates in a variety of ecumenitsl nission initiatives that work acrc￿s the Cty, induding the Chichest¥ and District Foodbank and Optlons. The Reclor rnet regulady with other Church leader5 and participated in the Nehemiah Partnerslwp. St Pancras is a mamber of the Evangpjical Alliance. 6. Generou5 - in the way we use our time, money and skills to senre Christ and others The PCC is eager for St Pancras to be good stewards of the all the resowces that we have b*n entrusted wth. This indudes ma￿Mis1ng the misson potents'al of our cty centre thurch Site. Development Group Work on the plans for redeveSopiDg the clxjrch continued during 2024, induding ong(Hng disojsgons with the DAC pllor to submitting a Faculty aP￿iCation. In the autumn 3 re￿S&￿ estimate by the Quantity Surveyor indioted a significant increase in costs. A worl&On. Early in 2024 3 Faculty Wds approved to replace the hew old th￿ch chairs with ones that are lighter and easier to stsck. These have been greatly apFreciated, particukrly as the church ￿ting is rearranged seveTrl each week SÈaff4 Our Rector Canon Mark Pdyne took eady retirerr,ent in June 2Q24 and 15 much mTssed after his 09 (2023." £13,4rn in relation to trte develotxnent OT the church pr￿nISeS. INVESTMENf POLICIES The PCC has authority and power to invest its fiJnd5 in accordance with ts legal responsibilities. The majorty of the investments hetd by the PCC, wth market vahje of £28,537, are held 35 COIF Income Units. RESERVES POLECY The PCC yre considering the levd of reseryes. Unrestricted reserves at the end of the vear total £924,524, of which £461,614 is irivested in 12ngible fixed assets for the use of the PCC, and £28,774 ts invested to generate income for the PCC. The remaining £434,136 is held to fur￿ the refurbishment and alterations required on 1-2 St Pancras and the day to day activyties of the PCC. The levei of res￿Ve5 is deemed appropriate. RISKS The PCC have revtewed 2nd a￿esSed the risks relating to its actimties and are satisfied that they have taken all reasonaDle Steps to limit or provide cover ror the major risks. MEMBERSHIP Members of the PCC a￿ either ex offioo or electsd by the Annual PaK£hial Church Meeting (APCM), in accordantr with "he Church Representstion Rules. Tr.e PCC has 14 rriembers, comprising I Church Warden, l ¢Jurch WardsVLay reader, 4 Deanery Synod members and 8 OrdiDary mem.L)•rs. The ChiJrch warden.s arp elerted for a one-year tttm, the Deanery Synod members are elected for a hree-year +erm and the Ordinary members of the PCC are elKted for a three-year tenn. The electorate for all the Positions is defined by the Church Representatton Rules. srRucfuRE, GOVERNANCE AND MANAGEMENr ACKGROUND AND GOVERNING DOcuME￿r SL PanctEs and St John Parochia5 Church Council ('the PCC,? has the r￿￿nSib￿ty under the Parochial Church Counal Powers Measure (i9)6) as amenoe(i ana the ChiJrch Representatton Rul￿ or co-operating witii trie incumbent in promotir,g in tne eCd￿lastiCal parish th- whole missicffl of the Church, pastoral, evangelistic, 500al and ecumenica5. It also has Th￿IntenanC￿ responsibil￿"eS for the parish chiirch of St Pancras, the St Pancras Church Hall, 1-2 St Pancras and a freehold propety at 62 Swanfield Drtve. REFERENCE AND ADMltiIsrRATIVE DEfAIIS Registered Chari number i137043 Page 4 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESLAsf_tC4L PARISH OF ST PANaiAS AND sr JOHN, CHICHEsfER REPORT OF THE TRusfEE5 FOR THE YEAR ENDED 31 DECEMBER 2024 Prinopal address st P3ntras Church EastgBte Square Chichester W￿t Sussex P019 7LJ Trustees Thomas Aspden Judith Ball Olugbenga Beckley Sharyd Bowers Carolyn Codner Bernadette Condron Barbara Darby Michael Darby Jane Haynes Timothy Morgan Derek Mumford Revd Canon Mark Payne Deb0￿h Robinson Derrick Tyler Linda Ward Malcolm Watts (appointed 241412024) Deanery s￿0d Rep 5ecret2ry Dean.•ry Rep Church Warden Hon Treasurer (resigned 181312024) Lay Readerlchurch Wardw] Deanery Synod Rep Rector/Chaiman (resignej 30/612024) (appoint& 241412024) (appointed 241412024) Deanery s￿0d Rep Independent Examiner Sarati Alprdnder FCCA FCA Lewis 8rownlee (Chichester) Lim￿ed Chartered Accountsnts Appledram Barns Birdham Road Chichester West Sussex P020 7EQ icitors Windh used in opei7tiii g adtritiES 33 881) '601509) Cash flows from investing activities Purchase of tangible fixed assets Interest receqved Propety ￿ntaI income (14,844) 20,254 15,6/3 Net cash provided by Investing activli ies 43,976 51,135 Change in cash and cash equivalents in the reports'ng period Cash and cash equsvalents at the beglnnlng of the reporting period 10,095 (1<,374) Cash and cash equivalents at the end of the reporting period 418￿98 4D8,503 The notes fcrm part of these financial ststements Page 9 THE PAROCHIAL CHURCH COUNC OF THE ECCLESIAsfIcA.L PARISH OF ST PANCRAS AND sr JOHN, CHICHEsfER NOTES TO THE CASH FLOW sfATEMEMr FOR ThE YEAR ENDED 31 DECEMBER 2024 NCILLATION OF NEf INCOME/{EXPENDrruRE) TO NET CASH FLOW FROM OPERATING ArnrrIES 2024 2023 Net onct)me/{expenditure) for the reporting period (as per the ststement of Financial Activities) djustments for: Depreciation charges 'oaiii on invothents Tnterest recived Propety rentsl income Irycrease in debtors sn.creès41(4e£rease) in credibrs 20,224 (13,163) 3,541 (637) (20.254) (38,566) (35) 715 (2,397) (15,673) (35,462) (140) Net cash used in operations 33,881) 66,509) ANALYStS OF CHANGES IN NEf FUNDS At 111124 Cash flow At 31112124 Net cash Cash at bank and in hand 418 598 418 598 Total 408,503 10,095 418,598 notes fcffti part of these finanoal statements Page 10 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLEsIAsfIcAL PARISH OF ST PANCRAS AND sr JOHN, CHICHESTER NOTES TO THE FINANCIAL ￿ATEmENTs FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial ststements of the charity, which is a public benefft entity under FRS 102, have been prepared in ccordance witl the Cfrarities SCRP (FRS 102) 'Accounting and Rq)ortin9 by C,laritiei Statsms ent of Recommended Practice aF¥)licable to dkrities preparing their accountrs in accordance with the Financial Repo￿ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effettive l January 2019),, FinanciBI Oieporting Stsndarcl 102 The FinancÉal Rep)rting Stsndard applicable in the UK and Republic Oi Ireland, and he Charities Act 2011. The finanaal statements have b*n prepared under the historical cost convention, wth the ex￿ption of investrnents which are included at market value, as modified by the revaluation of certsin 255ets. Income All i￿ome is recognised in the Statement of ￿nan0a1 ktivities once the charity has entttfemen.t to the fund5, it is probable that the income will be received and the amount can be measur& reliably. Expenditure abilities are recognised as expenditure as soon as there is a legal ￿ constwctive obligation committing the charity to that expenditure, it is probable that a transfer of txonomic Etnefits will be required in settlement and the amount of the obli￿tion can be measured rdiably. Expenditwe is accounted for on an accruals ba￿5 and ha5 been classifi& under heaaings that aggregate ail c05t relatea to trie category. Grants and don&ion5 are accounted for when avrdrded. Allocation of costs Expenditure which does not directly rdate to the objects of the Ffc is analysed betr￿e￿￿1 knr¥iaiitable SLlPPQrt costs, charitsble govemance costs and costs of generdtfftg fvnds. Items which involve more than one cost category are allocated to 3cbvities on a bags congstent with the use of resources. Property owned by the pcc Property owned by tne PCC as a functional fixed asset used in the Mr¢rk of the church is shown in the accounts at cost value and not market value. No depreciation Ss charged on the fr&hdd proFty and the propty is induded in the financial statemerfrts at historical co<. Th.e m.embers cons.ider this accountng policy, ￿lch prL¢ents a departtare from. the sts*.Lltory principle requiring the provision of depreciation, is to provrde a true and fair view. It is not practit2ble to detemine the amount of depreaation, which might otherwise have been provided. Leasehold Property The Leasehold Propety at 1-2 St Pancras is a long leasehold propaty with a lease of 1,000 years. The lease has not been amorknsed. Improvements made to the Leasehold Propety were depreuated over 10 years. Other fixtures, fittings and equipment Equipment used within the church premises is depreciated on a 200/9 reduang balan￿ basis. Individual items of equipment with a purchase price of £500 or less are written off when the asset is acquired. Investments Investments are slated at Market valu& Unrealised gains or losses a￿ carried to the St3Lerrient of Tinancial Actimties, Investmnnt income is accounted f(x then receivd and includes any Y￿13$mable TaAation The PCC is eX￿npt from direct tax&ion on tts charitable activiti Page 11 rotrLinued... THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfIcial PARISH OF ST PANCRAS AND sr JOHN, CHICHEsfER NOTES TO THE FIfiANCtAL sfATEMEKfs - tontinued FOR THE YEAR ENDED 31 DECEMBER 2024 Accouf4TING POLICtES - continued Funds UnrestrittLeo runds repr￿ent the funds of the PCC that are not subject to any restrictions regèrding their use, and are a￿lIable for generdl purpose5 by the PCC. Trjnds shown as designated ror a particular putP05e are also vnresthtted. Restricted fdnds may only ￿ used for purrM)ses specifieis. Pension costs and other post-retirement benefits The charity operatr& a defined contribution pension scheme. Contributions payable tr) the charitys peF￿10n SChe￿￿e are C>Yarged to the Ststement of fironcial ALtMtses in the period to which they relat DOIYATIONS AND LEGACIES 2024 2023 Coliettions at 311 spxvices Sta¥nding order donations Iocotrfe tax recoverable Grénts Donations - St PancTr5 International Sundry donarions and otner irKome other planned gimng Youth work 5,658 69,035 18,206 5,216 2,240 19,785 2,520 7,84.2 67,343 18,643 410 18,503 2,520 122 664 121210 Grants recelved, Included in the above, are as follows: 2024 2023 Chichester Wdfare Trust Foularton TrJst 716 4,500 410 410 INVESTMENT ZNCOME 2024 2023 Propety rental income UK (iividends and interest 38,566 35,462 Page 12 continLI THE PAROCHIAL CHURCH COUNaL OF TrVE ECCLESIAsfIcAL PARISH OF ST PANCRAS AND sr JOHN, CHICHE¥fER NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDU) 31 DECEMBER 2024 INCOME FROM CHARrrABLE ACTivrrIES 2024 2023 Activity Clwrth activibes Church hall lettings CHAR￿ABLE ACtIvttIES Cl￿s Grant funding of activities (see note Direct Costs (see note 6) Support costs (see note 8) Totals Churth actimties 118.121 9,872 45,4Q6 173,399 DIRECT cosrs OF CHARrrABLE AcrIvrrIES 2024 2023 Staff costs Activities Parish contributions Rettor's and others expenses 27,827 8,193 77￿73 40,720 13,149 74,856 118 121 139 200 GRANfs PAYABLE 2024 2023 Church attimties 9,872 Grants payable from the St Pancras Intsrnational restrirted fund induded in the above: 2024 2023 Anglican Intemational Development CMJ Cro￿lin￿ - Nekemte *hool Interserve J otiba 1,000 300 540 150 300 180 640 90 75C, 2,250 2,000 22 2iO be￿ Stum Nairobi Kreativity (Ukraine) SGP - N Aspden N Cyprus Open Doors R Va5ario Rev igwu Translation Trust Turkey earthquake Ugwu & Nwoke I,ioo 250 750 4R20 1,115 600 8.160 Page 13 contiiyuea... THE PAROCNIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAMSFI OF ST PANCRAS AND sfJoHN, CHICHEsfcR NOTES TO THE FINANCIAL sfATEME[￿rS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT cosrs Management Governan costs Finan Totals Church artimties 23,257 120 22,029 45,406 Support costs, induded in the above, are as folk)ws: 2024 Church activities 2023 Total artivities Leoal and profesgonal fees Upkeep - SeNces Upkeep - Swanfield Drive Rep3irs - Btsildings Mainten2nc.• _ Church Maintenance - Hall Maintenance - 112 St Pancras Jepreciation of tangit)ie and neritage assets Bank charges Independent examination fees Professional fees relating to redevelopment cost 3,104 1,626 1,536 5A38 4,056 6,028 3B20 715 120 2,340 1,569 1,226 2,946 4,691 7,311 1,973 3,541 120 2,520 13,477 45,406 TRusfEES' REMUNERATION AND BENEFrrs TherA were no trustees, remunerntion or ¢ther beneffts for the year ended 31 December 2024 nor for the year ended 31 De￿rnber 2023. Trustees, expenses There were no trustees, expenses paid the year ended 31 December2024 nor for the year ended 31 Decernber 2023. 10. STAFF cosrs 2024 2023 Wage5 and salaries Soaal securty costs Other pension costs 27,205 180 39,508 711 501 27￿27 40,i20 The average monthly iiurnber of eJnployees during the year ￿ds as fDIIows: NLtmber of CFEritsble Staf 2024 2023 No ￿pI0veeS receiv& emoluments in excess of £60,000. Page 14 continued... THE PAROCHIAL CHURCH COUNCIL OF TrIE ECcLESIAS￿caL PARISH OF ST PANCRAS AND sr JOHN. CHICHEsfER NOTES TO THE FINANCIAL sfATEMENfs - continued FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FfxED ASSErs Freehold property LongImprovemerts Furniture & leasehold to property equipment Totals cosr At l January 2024 Additions 38,930 350,000 126,755 40,038 555,723 14,844 At 31 December 2024 38,930 126 755 570 567 DEPRECIATION At l January 2024 Charge for y￿r 53,390 37,178 3.541 90,568 At 31 December 2024 53,390 40,719 94,109 NEf BOOK VALUE At 31 December 2024 38,930 350,000 73,365 14,163 476,458 At 31 D￿￿nber 2023 38,930 350.000 73.365 2,860 465,155 Following the sale of the LÈtten burial ground as auth¢wised under the thurch CommissiorT¥S Pastor315c4J eme 2003, ownership of the long leasehold of 1-2 St PancRs Chichest¥ P019 ISJ was tr3nsferred to the PCC by the Chichester Diocesan Board of Finance (being custodian trustee and registered 0￿)er) dur.ng the year ended 31 December £008 at a value of £350,000. Improvements to property relate to the cost of an extensÉon and reordering of the church building together wtth the refvrbishment of 1-2 St Pancras. The costs for the latter are deprec5ated as this is a le35ehold propety. 12. FIXED ASSEf INVESTMENTS Listsd investments MARKEf VALUE At l January 2024 Revaluations 28,137 637 Ak 31 December 2024 NEf BOOK VALUE At 31 December 2024 28,774 At 31 December 2023 28.137 There were no investrnent assets outside the Ulc At 31 December 2024 investn, ert holdings corsi51ing of over 5% of the portfolio value were 3s follows: 2024 COIF CharEties InveStrn￿t Fund Iricome unts 28,537 The historical c05t of investrnents at 31 December 2024 was £233 (2023: £233). The investments include 1,406.22 COIF charities investrnent fund income units. The histori￿5 Cost of these uriits are mt known. The historical cogc shown above do￿ not inclL,de thi5 holding. P3ge 15 contiriued.. THE PAROCHIAL CHURCH COUNCIL *1 OF THE ECCLESIAsfIcAL PARISH OF sr PANCRAS AND sfJoHN, CHZCHEsfER NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 13. TORS." AMouKfs FALLING DUE MIN ONE YEAR 2024 2023 Trado debiors Other deb, Ip,come"..aX recoverable Pre￿yrne1its and accrued irÉome 3,768 909 17,451 2,099 878 18.968 2,558 24,538 14. CREDrroRS: AMOUNTS FALLING DUE wmiIN ONE YEAR 2024 Other creditors Accruals and defeTred income 2023 8,533 6,747 10,993 9,147 MOVEMENT IN FUNDS Net movement In funds Transfers between funds At 111124 31112124 nr*tstrirted funds General fEJnc. The 8a16ing Redevelopment Fund 638,845 271524 34,533 6,724 (14.844) 680,102 244,422 Restritted funds t Pancras International Emergency FiJnd Youth Work Foulertcfj Charitsble Trust 911B69 21,275 (8,120) 924,524 4.981 791 io (S.541) 8,120 7,560 791 (io) 4.500 4,500 1,051 TOTAL FUNDS 12,851 917 151 20,224 937 375 Page 16 contlil ued... THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESLAsficAL PARISH OF ST PANCAAS AND sr JOXN. CHICHEsfER NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 15. MOVEMEiif IN FUNDS - continued Net movement in furK15, induded in the ab)ve are as follows: Incoming resour ResOUr￿S expended Gains and losses Movement in fuTh Unre*ricted funts General fund The Balding Redevelopment Fund 178,900 6.251 (145.004) 19,509 637 34,533 13,258} 185,151 (164,513) 637 21,275 RestrÉcted funds St Pancras International YoLrth Work Foulerton Charitable Trust Chichester Welfare Trust 2.619 (8,160) (io) (5,541) (io) 4,500 716 1,051) TOTAL FUNDS 192 986 173 399) 637 Comparatives for movement in furKIs Net movement In funds Transfers betrNeen funds At 111123 31112123 Unrestricted funds General fund The Balding Redeyelopment FuFMa 634,269 286 001 14,221 {9,645) 638,845 272 524 920,270 744 (9,645) 911,369 Restrirted funds st Pancras Intemational Emergency Fund Youth Work 8,648 IR96 (13,312) (605) io 9,645 4,981 791 io TOTAL FUNDS 930314 13 163) 917 15 Page 17 conrinued... THE PAROCHIAL CHURCH COUPICIL OF ThE FCCLESIAsfIcAL PARISH OF sr PANCRAS AND sr JOHN, CHICHESTER NOTES TO THE FINANCIAL ￿ATEmENTs - contin￿ed FOR THE YEAR ENDED 31 DECEMBER 2024 EPtr IN FUNDS - continued Comparative net movemert in fuTrJs, irKiuded in the akove are as follow5: Incoming Resources resources expended Gains and losses Movement n funds Unrestricted funds Geiyeral fund The 8aldina Red￿elopment Fvnd 175,868 (164,044) 2,397 14,221 13,477) Restricted fvnds St Pancras International mergency ￿Und Yout4 Wotk Chichester Welfare Trugc 175068 (177,521) 2,397 3,358 (16,670) (605) (3,099) 410 (13212) (605) io 3,109 410 6,877 20,784 {13,907) TOTAL FUNDS 182,745 198,305) 13 163) A current year 12 months and wior year 12 months ccmbin&J position is as follows: Net movement in funds Transfers between funds At 111123 At 31112124 Unrestricted funds General fun s he Balding R=development Fund 634,269 286,001 48,754 26,735) (2,921) 680,102 Restrirted funds St pan￿aS International Emergency Fund Foulerton Charitsble Trust 920,270 22,019 (17,765) 924,524 (18,853) (605) 17,765 7,560 791 10.1)44 17,765 TOTAL FUNDS 930,314 7,061 937,375 Page 18 continued... THE PAROC>IIAL CHURCH COUNaL OF THE ECCLESIAsfIcAL PARISH OF ST PANCRAS AND sr JOHN, CHICHEsfER NOTES TO THE FINANCIAL sfATEMEKfs - continued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 month5 c￿bIn￿ net movemeni in funds, induded in the above are as follows: Incoming r￿oUrceS Resources expended Gains and losses Movement in funds Unrestricted funds General fund The Balding Redevelorynert Fw 354,768 (309,048) 32,986 3,034 48,754 26,735) 361,019 (342,034) 3,934 22,D19 RestrFcted funds st Pancras Intemational Emergency Fund Youth Work Foulerton ChaThtsble Trust Chichester Welfare Trust 5,977 (24,830) (605) (3,109) (18,853) (605) 3,109 4,500 4,500 29 67Q) 14 958) TOTAL FUNDS 375,731 (371,704) 3,034 7,061 St PdncTa5 Intwnational are fvnds dcffpted Specifically for Missionary and similar purposes. Emergency Fund rekyesents morÉy given to support members of the congregation who rFe& asststance with housing or other baslc needs. The Youth Work fiJnd represerts grarts r￿eNed and money donated by the congregation to support our Youth Work projert. Foulerton Charttable Trust fund represents the grant rwed from them towards the redevelopnent of the church. The PCC holds SLrfficient liquid assets to enable restrttted fvnds to be applied in accordance vitth the restrictions, Transfers between funds The transfer to St Pancras International from the general fund rekyesents a regular transfer rnade from St Pancras PCC to St PanTh Intemational. OTHER FINANCIAL COMMrrMEKrs A grant was received from the Foulerton Trust for repair and redecoratiT¥J the doors and window5 at the Church Yall. This work vril! be carried out. in 2.025. Rather more exk.PJkStve woyk is needed on he gabte& This will reqLsire 3 StructuRI engin*r report to estab5ish w113t remedial work is needed. When the redevelopment of the church is finished, the Church Hall may not be neede#. Consequerrtly, consideration is bei.ng given to gelling IL The plans for redcKveloFxnent of the church and 1-2 St Pancras continue to progress. The architetts have kcen in consultation with the DAC regarding ￿rk on the cor6ecrated partLS or the church prior io a Faculty 5ubmisson. Tre organ was offered for sale in March 2024 but there has been no response. E5i:rnat-. by the Quap,tity -urveyor in the autumn OT 2024 inoK3ted that the construction rost was fikely to be £3.)￿. pluss re￿ which much higher than indi(zted in last years. report As a resulL a working group met to revir&W what was essenti31 and what could be Gmitted and passed their repjrt to Lhe architects. TrJiS will lead to omitt Èng ihe seconG flat ar,d simplifying the Oeggn in order to minir)ise costs. Revising the destgn will be the key activ ty in ihe fiLSi quarter of 2025. It is ntrL yet clear whether this will require ¢ new planning application or ca,I be h.andled a5 ari Om- to the e￿sllng consenL The iiltentson is to Lep tne cor6truction cost between anQ £2.5m. Page 19 coniinued... THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfIcAL PARISH OF ST PANCRAS AND sr JOHN, CHICHEsfER NOTES TO THE FIIYANCIAL STATEME￿rs - continued FOR TrIE YEAR ENDED 31 DECEMBER 2024 OTHER FINANCIAL COMMrrMENTS - continued It is egamated th3t the cost to amend the design and then complete the we-con5trutticffi phase will be in the region or £20,000. Tf fur,dral￿ng allows, construction could t￿gin in late 2025, but this will only be possible if the bulk of the money needed has already been rnised or promised. InTttal work would indude site clearance demolrf£ion of the current nc*th extension, grour,dW0￿ and foundatior6 to ground floor slab level which would cost in the region of £250,000. 17. RELATED PARTY DISCLOSURES During the year there were no rdateé party ts7nsaction& THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsfIcAL PARISH OF ST PANCRAS AND sr JOHN. CHICHE¥fER DEfAILEO STATEMENT OF FINANCIAL AcrIirrTIES FOR THE YEAR ENDED 31 DECEMBER 2024 2G24 2D23 ZNCOME AND ENDOWMENTS Donations and legaaes Collections at all sttvi Standing order donation5 Income tsx recoverable Grants Donations - St Pancras Intemational Sundry donation5 and otkEr income Other planned giving Yotsth wo￿{ 5,65S 69,035 18,206 ,216 2,240 19,789 2,520 7,842 67,343 IS,643 410 2,840 18,5Trki3 2,520 122,664 121,210 Investment income Propety rental income UK dividends and interest 35,462 15,673 20,254 58,820 51,135 Charitable activities Church hall letbngs 10,400 Totsl incoming resources 192,986 182,745 EXPENDrnIRE Charitsble actlvltles Wages Social securfty Pensions Activities Parish contributton5 Rector's and others eX￿nSeS Grants to instithtions Grants to indNiduals 27,205 180 39,508 711 501 13,149 74,856 10,475 17,345 8,193 77,373 4,728 9,156 716 127,993 156,545 Support costs Management Leg31 and professiowpl fees Upkeep - Services Upkeep - Swanfield Drrve Repairs - Buildings Maintenance- Church Mairitenance - Hall Mas￿le￿anCe - 112 St PaTrcras Deyeciation of fijrntture & quipmert 3,104 1,626 1,569 2,946 4,691 7,311 1,973 3,541 5,438 4,056 6,028 3,320 23,257 25,823 This page do￿ not form part of the sktutory financEal statanents Page 21 THE PAROCHIAL CHURCH COUNCIL OF ThE ECCLESIAsficAL PARISH OF ST PANCRAS AND sr JOHN. CHICHESTER DEfAILED sfATEMEKf OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Manag#•ment Finance Bank charges 120 120 Governance costs Independent ex3nination fees Prof￿$onal fe￿ ", elatjp.g io redeveh3￿nent cost 2,520 19.509 2,340 13,477 Total resources expended 173 399 198 305 Net income/(expendtture) 19,587 15 560) This page does rx)t kn part of the stabjtory finanaal statanents Page 22