CHARITY REGISTRATIO]Y NUMBEIL. 1138266 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS. PUTNEY UNAUDITED FINANCIAL STA TEMENTS 31 DECEMBER 2024 EJAvari&CoLtd Association of Accounting Technicians 178 TiiNtord Road THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 PAGE Trustees, annual report Independent e￿lMineeS rew)rt to the tnL8tces li Statement of financiaI activities 12 Statement of financial posktion 13 Statement of cash flows 14 Notes to the financial statements Is THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The tnjstees present their ryrt aDd th¢ unaudited financial statements of the charity for the year ended 31 Decemb¢r 2024. REFERENCE AND ADMINISTRA TIVE DETAILS Registered eharity uame The ParochiaI Church Council of The knlesiastical Parish of St Mary with All Saints, Putney 1138266 Charity registration Dumber Prilleipal offRc¢ St Marys Church, Putn¢y High Streei Puthey.. L¢)ndDn SW15 1 SN THE TRUSTKES IN 2024 Clergy Revd. John Whittaker Revd. Dr Daniel TTud Revd Jane Andrews (rtsigncd 20.10.24) Revd Helena Whittsker Parish wardens S8rah Thomas Andrew Grocott Dlstrict wardells - St Mary's Chureh Linda O'Riordan Karen Todd Distrirt warden5 - All Saints, Cbllre Alison Fleming Oliver Todd Diocesan Synod Representativ¢ GTaham Shaw (Tesigned 03.07.24) Deancry Synod Representativo: St Mary's Chureh Ricbard Holman Alex Lowe Neil Vass Josh Yelland (appointed 22.05.24) Jan¢ Turner Rosie Taylor-Davies Evc Bradshaw All S%ints' Churth PCC Members: St Mary'5 Church Mark Leadley Charles Robert5 Thomas Willoughby Catherine Collyer Janet Simpson Michelle Penn Elizabeth Hamilton {retTr¢d 22.0524) All SxiDts' Church PCC Secretary Tina Thomag (appointed 22.05,24) THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER2024 Independent examiner E J Avar5 & Co Ltd AssociatiOD of Accounting Trxl]nicians 178 Twyford Road HaTrow Middlesex HA2 OSN Bankers Barclay5 Bank PIC I Churchill Place Canary Wharf London E14 5HP CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent MEI 9 4TA Metro Bank One Southampton Row London WCI B SHA Architect Aya Kibarn Paul B.Eng M.Eng m.sc ARB AABC Richard Griffith Architects 6 Queen Square London WCIN 3AT THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WtTH ALL SAINTS, PUTNEY TRUSTEES, ANNUAL REPORT feonti YEAR ENDED 31 DECEMBER 2024 STRUCTURE. GOVERNANCE AND MANACEMENT The Parish is a part of the Church of Englan(I within the DI0￿Se of Southwark It w&% registered &8 a distinct charity (reg no 1138266) on 5 October 2010. The Parish is governed by the Pamchial Church Council (PCC), which is elected annually by those members of the congregations of St Mary's Church and All Saints, Church who ar¢ on tbe Parish electoral mll. PCCS are established under the following Church of England MeasEwes." Thc Parochial Church Councils (Powers) Measure 1956 as amended The ChuTch Representdtion RuR&s (Contain￿ in Schedule 3 to the Synodical Government Measure 1969 &s amerAdcd). OWECTWES AND A￿[VITIEs The objectiV¢5 of the Parish are the promotion of ChristiaDity and the welfare ofthe local commuDity. The objcctiv¢s are achicved by." The provision of regular public worship open to all Thc provision of sacred space for personal prayer and contemplation Pastoral worK including visiting the sick and the bereaved Teaching Christianity through sernions. COUTses and small gTOUPS The provision of activities for children and young people Promoting the rnission of the church througb the pmvision of activities for senior citizens Supporting other charilies in the UK and ove￿¢&5 Much of the work of the Parish is undertaken by voluntceT5. of which we are fortunate to have a considerable number in all are85. but particu]arly in the children's aclivitics. Brief History There b&8 been a church on the St Mary's site since at least the eleventh celltury. The 1837 building was abnost entirely destroyed by fire in 197). It Was Tebuilt in a reorderpd desigD and was reopened in 1982. A conm)unity hall opened next to the church ID 2006. which is widely used by Iijcal voluntary organisations. The hall is managed by St Mary's Parish TrusL a related charity. St Mary's has a thriving all-age congregation, including large numbers of children. All Saints.. Putney Common, was consecrated IT] 1874 to serve the north-western area of the Parish. In the 1980s the attendance dwindled and the churcb a]most close(L but it was relauncbed in 1993 and now also has a substantiaj. mainly family. congregation. The church celebrated its 150th birthday in 2024. with special services and events. Generous parishioners contributed to a list of birthday gifts for the church. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 ACTIVITIES IN 2024 . SunthMry As the r¢port tbat follows i11￿$trate5, tbere was a great de81 of activity in both our churchcs in 2024. The highlight was probably All Saints". celebration of the 150 arJnivers8ry of its Consecratio￿ with special concerts. well known vistting preatheTS, socia] events and a'birthday gift list,, which received a very generous response from many members of th¢ congregation. At St Mary's, the Rector continued the planning for YMIC Southwark (see page 6) and we were delighted to welcome the Archbishop of Canterbury to a memotable, and very wcll attcnde YMIC event, culminating in a Eucharist at which the Archbishop Presided. The clergy team and the Parochial Churcb Council have continued to develop the Mission Action Plan that was launched in 2023. Team In October 2024 the Revd Jane Andrews, our Pioneer Curate, left the Parish lo tske up the role of Team Vicar of St Mark's Wimbledoo in the Wimbledon Team Ministy. Jane was a very valuable member of the team and during her th￿¢ years in Putney she initiated a number of projects which have now been picked up by lay members of the church. Sharon HunL who has been with us since October 2023 as ordinand in trainin& was ordained deacon in June 2025 and she has now joined the team as a full-time curate. The Rev'd Kieron Rowley has been appointed DiTectOT of Youth Ministy in Communion for SouthwarL and Trs b&sed in the Parish. Although his responsibilities cover a wide area in the diocese he will be ￿lsting the Putney ministy team when his other duties pernjit. Volunteers The life of a very active Parish relies heavily on a substantial team of volunteers. The Parish wardeTJS. Andrew Grocott at St Mary's and Sarah Thom&8 at All Saints,. have led by example and they have be¢n well supported by Dcputy WaTd¢n5 in both churches. The Wardens commil very sUb￿antial amounts of their time to the smooth rUrll)l￿ of services as well as having fornial respDnsibilities in most other ar￿ of ¢hur¢h life. They. together with the clergy and the other lay members of the PanKhial Church Council. are the legal trustees of the charity. The PCC nornially meets quarterly. Both our churches also have District Church Councils, appointed at the church annual meetings. The DCCS appoint their own honorary secreL2ries and tr¢asurers and they also meet four times a year. On Sundays we benefit from the contributions rnade by choi[% welcomer4 stewards, Sunday School teachers. servers, deacons, flower arrdngers. bellringet5. Wristans, chalice assistants, readers and interce&sor5. We are very grateful for the support of so many committed volunteers. Worship andServie4Y Average Sunday attend￿Ce in the Parish in 2024 was 207 adults and 53 children. Both figures are slightly higher than in 202). The worshipping community across the Parish. &8 reflected in the electora] roll, numbered 286 at the APCM in 2025. This was substantially lower than 2024's total of 517. due to the legal requirement that the roll has to be completely renewed every six years, starting in 2025. Over 1200 Etoplc att¢nded the services held in the two cburches on CIllistn￿S Eve and Christm&s Day. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WtTH ALL SAINTS, PUTNEY TRUSTEES, ANNUAL REPORTfc&ndn4edJ YEAR ENDED 31 DECEMBER2024 ACTtVlTIES IN 2024_ Ivorship ondServicL¥ {eODtiDued) The regular Sunday services at St Mary's are a morning family-friendly Eucharist and in the evenin& Catitas - a quiet contemplative eucharist. All SaiDts' has a said Book of Common Prayer COEnmunion service and a full choral fa￿llY communion every Sunday and also a monthly choral servÈce of Evensong, which has attendance of i5 - 40. Morning Prayer is said five days a week and there is a tnidweek Jnidday Communion service at St Mary's, which is attended by about a dozen people. In 2024 our clergy baptised 61 wple, including severnl adults, conducted 19 weddings and offi¢iated at 21 fuDeral4 c4)mmittals and memorial seTvi¢es. I I people were prepared for onfimiation and 22 Year 3 Confirnjation. Year 5 children for Admi&sion to Communion before Tuehing The main teaching medium during 2024 was. usual. sernjons at the four services held in the Parish every Sunday. Both churcb¢s wclcomed guest preachers severnI titnes in 2024. As part of the programTne of speciat services to mark All Saints, 150th anniversary, the fonner Archbishop of Canterbury, Rowan William4 prtrdched at the Dedication Festival in April, and the Very Revd Mark Oakley, Dean of SouthwarL on All Saints, Sunday in November. Short courses for adults were run durtng L¢nt and Advenl including an Exploring Faith cours d¢signed for adults who are considering confirniation. Active and well attended Sunday schools operdie in churches dwing terni times. All children seeking Admission to Communion ￿fOre Confirn]ation take part ID a thorougb preparatory cours4 as do candidates (adults and children) for ConfiTmation. In 2024 two hot]se groups continued to Tneet fortnightly for Bible study in a social setting. Cafe Theology, an infornial discussion group of up to 12 peopl4 me¢ts regularly at the Panty at St Mary's. Children and Young People Both churches aim TO be child frÉendly. We have a large team of voluntews leading the Sunday Schools (for cbildr¢n of 3+) and some Sunday services are designed to be suitable for all ages, which allows children to remain in those seryices throughouL In 2024, St Mary's had 70 childT¢n on its roll. with an average attendance of 23. Attendance at All Saints, w&8 usually be￿een 15 and 20 each Sunday. Creche facilities are provided at both churchcs, slaffcd by a rota of volunteers. Children ar¢ also encouraged to tmitscipate in services as crucifer or acolyte. The Tuesday Toddler Social at St Mary"s attracts up to 25 adult4 with accornpanying toddlers, and All Saints, a weekly Baby & Toddler playgroup. which includes a Eucharist. The Godly Play room at St Mary's is llsed regularly on Sundays and also in tenn time by St Mary's and Brandlehow primary schoo]s. We continue to work closely witb the two outstanding church schools in the Parish. The Parochial Church Council apwints several Foundation Govemors and our clergy ￿gUlarlY Icad &8semblies at both schools. Camino is a social group for YOW￿ Fwple in yews six and seven froin both churches. which also provides an opporthnity for discussion and thinking about the Christian faith. Study Space, a project started in 2023 to make St Mary's available as a quiet area for teenagers revising for exams. supported by tutots. continues. Fifty young people used this facility in 2024. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAtNTS' PUTNEY TRUSTEES, AYL IWAL REPoRT{￿￿1￿￿e YEAR ENDED 31 DECETrtBER 2024 ACTIVITIES IN 2024 (eontinued) Youth Ministy in Communlon Youth Ministry ill CornmunÉon (Yffflc) is a project started in Ibe Diocese of London to develop sacramentsl and collaborative youth ministy that enables evallgelism and growth among young people aged 11-18. The Parish's E>8rticitAtion ill YMIC in 2023 led to the Rector submitting a proposal to the Diocese of Southwatk for funding for thc ￿tion of YMIC SouthwarL This was approved and a substantial grant has been awanled to the project from the Church of England's development fijnds. A full-time director, the Revd Kieron Rowley, h&s been ap￿Inted and he stsrted V￿rk in April 2025. St Mary's will k the hub church for this work and Fr Keiron is busy canvassing support from other churches, mainly in the north-western part of the diocese. lu October we were deligbted to welconie the then Archbithop of Canterbury, the Most Revd Justin Welby to a milestone Ymtc event with 120 yOUDg people from churchcs in the dioceses of London and Southwark. Music Music plays a tnajor role in the life and worship of the ParislL Both churches have adult and children's choirs and we are very forthnate in having exceptional Director5 and Assistant Dirccts)rs of Music. Thc choirs ofthe two churches have sung togetber & concerts. All Saints, adult choir is supported by chornl scholars and there is aIso a choir for Y6 - Y11 children (AS Choristers) and one foi Y3 - Y6 (Treblemakers), with I l and 18 young people involvcd. The choir sang at Evensong in Southwark Cathedral in 2024. The children's choir at St Mary's (Hamionic Minors) involves amund 10 ¢hildr¢n. All Saints. birthday events programme started with a perforn]ance of Handel's MessialL with the church packed to overflowing. Both cbur¢hes hostsd music recitals in 2024 - All Saints. mollthly alld St Mary's on a more occasional basis. Bell rin￿n8 A strong team of IKllringers at St Mary's h&$ conttnued to ring every SuD(Jay. a5 well as for weddings and special events. The team r¢gularly vi5lts other b¢ll tower5 and welcomes guests to St Mary's. Onc ofour fonn¢r bell captsin5 is supporting the establishment of a team in the neighbouring parish of Roehampton. New ringers are being actively recruited through the 'Ring for the King, initiative. Pariyh Action PA is a group viithill the Parish that rdises funds for, and also awareness of, a group of charities, which are chosen by the coDgregations every three Ye￿5. In 2024 the rharities we supported were the Charlie Waller T￿￿[ Christian Aid, Glass Door, Regenerate, and Wandsworth Foodbank. Funds were also raiscd for the Bishop uf Southwark""s Leni Appeal. H￿[ of the Christmas collections at tx)th churches was donated to charities. including Embrace the Middlc EasL THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF ST MARY wrrH ALL SAINTS, PUTNEY TRUSTEES, ANNUAL REPORT (￿R¢in￿e<) YEAR El￿F￿ 31 DECEMBER 2024 ACTtvtTIES IN 2024- Parish Achon (continued) PA will aIso Cominue to support Vulindlela Guardians, wbich cares for orphans in Zimbabwe. with funds for food and education. In 2024 the group generdted over £10,500, as well as nmning regular monthly collections offood and household goods for Wandsworth F￿dbank. The Scrnbbery The Scrubbery was set UP &8 a Parish Action project earfy in the Covid pandemic. Rosic TayloT- Davies organised a team of local volunte¢rs to fulfil requests foT scrubs from NHS hospita]s and healthcare providers across London and wherever there was need. After the pandemic abate￿ Rosie's team started to support Ukraine. In 2024, with the help of volunteers and parthe[5 like Medical Lifelines Ukraine. Pickups for Peace, and Embrace Me, they: - Delivered over a dozen aid shipments to hospitals. battalions. and cbildren's homes - Supplicd trench Candl￿ generatOTS. wann clothin& adapted garn]ents, and camoufiage nets - Built new relatiOTL8hips witb Ukrdinian MPS and humaniLgrian charities to ensure secure. needs-based delivery. The Scrubbery is based at the Oasis Acaden)y prirnary schooj ID Puthey wheTe Rosie and other volunteers play an active part in the Khool community. The group has received fomal awards from Ukrdinian organisations. as w¢ll as recognition from local community bodies. Wider Church Our Rector is now the chair of Wandsworth Deanery Syn(Nl and he h&$ r¢cTUited Sarah Tyler. from the St Mary's ¢ongtegatiot4 to be synod secretary. Topics covered at meetings during 2024 included the Assisted Dying Bill and the Diocesan Anti-racism Charter. Other membeTS of both churches are on deanery and diocesan synods. We continue to be involv¢d in chU￿he$ Together in Putney Roehampton, sharing in the Advent carol service, held at St Mary's, in the World thy of Prayer and in a Lent course. W¢ continue &8 a member of Incl￿1ve Churcrf of which we were one of the founders. Community At St Mary's, the church and the Brewer Building community hub. opeTated by St Mary's Parish TrusL an associated charity. are used intensively. Busy Bees nursery school is a pcrnianent fixture, &8 is Putney Panty. which. while being a commerci21 operation by an independent atcrer: enables to offer hospitality of a professional quality, seven days a weeL as well as For functions. The complex is used by many communiiy groups offering a wide rnige of ￿tiVitieS. including educatioru music, arL dance. fithess: wellness and social gatherings, Wandsworth Symphony Orchestra rehearses at St Mary's and St Mary s is one of the main venues for Wandswor&] Arts Fringe, many events taking place in the arches under Putney Bridge. which the Parish manage. All Saints, has continued to run its much appreciated Senior Social programme. whi¢h had 17 regular members in 2024. supported by a committed team of helpers. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SA1Tr4TS' PUTNEY TRUSTEES, AIYNUAL REPORTieoKthue YEAR ENDED 31 DECEMBER 2024 CTIVITIES IN 2024- Convnunity {contiDued) A social group for those in their 20s and 305 was launched in 202J and it has already become finnly esIablishe￿ Our aim is to eThsure that the Parish provides something for people ofall ages. The Repair Café at St Mary's is open monthly. on the second Saturday of the month. A team of around ten volunteers repairs fabrics, electrical appliances, electronic gadgets, laptops, kitchen knives and bric-a-brac when the manpower is available. bicycles 2nd clocks. Ateach session an average of JO repaits ate carried OUL Safeguarding Saf¢guarding in relation to lth children and vuInerable adults continues to be a priority throughout the Parish and Ix)th church¢5 have highly competent safeguardiDg officers in place for both groups. We also benefit from the support of the diocesan safeguarding experts and we hav¢ recently participat￿ in the dtocesan safeguaTding audiL Elecloral Roll Every six years church electoral rolls have to bc totslly renewe(t This process has been carried, out in 2025. The number of people on St Mary's eI￿lord1 roll at the APCM in May 2025 stood at 164 and there w¢re 122 on AII Saints roll. These figures compare with 297 and 220 at the previous APCM. Church Buildings Fortunately, no major tnaintenance was required in eitber church in 2024. buL we still managed to spend £34,000 IKtween the two cburches on rout7n¢ works- and the occ&sional emergency to buildings and the upkeep of the grounds. This included the pollarding of the trees that surround All Saints. Church, for tbc first sin¢c 2019. Alj Saints. appr¢ciated the support of the FrieThds of the V&A Museum to the repair of the font. At St Mary's further prepardtory work was carried out on the prnject to instal photovoltaic cclls on the roof of the church. Finance (see also the Finance section ollhe reporl below) The accounts show a surplus for the year of £191,000, a substantial improven]ent on 2023's £17.500 surplus. The £161.000 increase in income was due to exceptiollally geneTOUS legacies: totalKing £l16.600 (202i- £64500) aDd also to increased giving by the congregations and othcr donors. A net reduction of £12.(K)O in eX￿￿Se5 was driven by a further agreed lowering in our contribution to the diocesan Parish SupportFund of £?O,000 alld by the fall in energy costs from the very high levels of 202J. We invested over £10,000 in the refijrbishment of One of the Parish's properties, which is Gutrently Ict WEn￿￿¢laI1y. Investments showed increase in vaIue of £17.404 (202i= Eain £977). THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, pirrNEY TRUSTEESI ANNUAL REP0RT(tsJn￿ts￿ YEAR ENDED 31 DECEMBER 2024 The Church Mouse continues to be the main means of commuDication witb mostofthe members of the community. Weekly newsletters are sent out by email and these are suppleD]ented by single topic messages for special events and smices. The Parish Magazine, Bridge and Corllmo￿ ￿ published times in 2024 and we are grateful for the work of the tam that Puts it together and for all the articles that have been provided by a wide variety of contributors. PLANS FOR 2025 AND BEYOND Our priorities for 2025 and beyond continue to Lr those scl out in the Parish's Mission Action Plan. This identified three ar¢&s which are our primary focus: Ministy with yotrth Learning the faith Building community As set out al)ove, we have made good progress in the youth ministy area and the two house study groups, which started in 2023, have progressed well. Both churches are lively Communiti￿ with sociaj everyts complementing those of a more religious nalllre. T1￿Ollgh services, M￿81¢. social events and FYaStOr￿ work wc aim to attwt &8 many people as possJl)le from the Putney community to knme part of the vibrant life of the church and there to expericnce God's love for everyone. FINANCIAL REVIEW Regular giving by the congregation4 including the &ssociated Gift Aid recovery, rose by £24.242 {8.OYo) to £326.664, while Sunday plate collections incr￿ed by £3.2 J I {8.70/.) to £40,312. Investment income w&s up £10.177 (4.60/0) at £83.939 (2023: £73,762). Restri￿ed income, r¢latinE mainly to fundraising for external charities. w&s £43.812 (20￿. £25,040). The Patish's total incoming resources in 2024 were £161.541 higher tltsn in the previous year at £806,768 (202i: £645:227). mainly due to the receipt of legacies totslling £116,628 (2023: £64,467). We are extremely gEateful to our membeTS who have continued to give genemusly despitr all the current financial and economic pressures and also to those who have bequeathed funds to the Parish in their Wills. Totat resources expended were £11074 (1.￿/0} lower than in 2023 at £615,617. After fi￿1 consultation with the Diocese of SouthwaTk w¢ further reduced our pledge to the P8rish Support Fu7Jd which cove aEmost atl clergy stipends and accoTnmodatiotL by £20.000, to £278,000. A fitrther reduction will follow in 2025 but we will continue to k onc of the largc5t contributors to the PSF. The other significant change in unrestricted opcrdting costs was lower utility costs. doNTr by £12.959 long-terni contracts which we signed up to during tbe enepgy crisis expired. Lay staff salaries dmpped by £3,447, due lo a gap of sevcrdl Tnonths between the depkne of the Premises Manager al St Mary's and the recruitment of a full_time successor, now with a reviscd job description and the title of Church Operations Direclor. Expenditure details are set out in Note I I to these financial statements. Unrealised gains on investments amounted to £17,404 (2023: gains £977). There was an overall surplus on unrestricted fijnds of £195,234 (2023: sU￿1￿S £47.515} and a surplus of £13,321 (2023.. deficit £29,002} on Rcstricted funds. Net assets at the year*nd amounted to £2,283,425 (2023: £2,074.870). A Substanti￿ proportion of the main l¢gacy reccivcd by St Mary's Chu￿ has been earniarked to fund a scheme to instsll 501ar panels on the roof of the ChL￿Ch. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY TRUSTEES, AI¥NUAL REPORT(crtinMe YEAR EIYDED 31 DECEMBER 2024 PUBLIC BENEFIT Section 17 of the Clwities Act 2011 requires th¢ Cbarity Commission to issue guidelines to charities that ensure that they are operating for the public IMefiL The guidelines separate ￿￿efit, and 'publi¢'. The PCC is satisfied that the Parish fully meets the requirements ofthe guidelin£s. Charities are required to 'benefit the public in general, or a suffictent section of the public (what is a 'sufficient section of the public, varies from purpose to purpose),. The Work of the Parish benefits the 517 members recorded on its electoral roll, a5 well as many others who participate in services or activities but who have not put their names on the roll. More importantly, the PaTish is a spiritual resource and pn)vides practica] services for the entire Putney community througb its pa5tora] ca￿. its involvetnent in local church schools, its charity fundrdising and other similar initiatives. Tbose who carry out the worK other than the clergy and a small team of lay staff. all but one of whom aTC part-time. derive no personal benefit from the thousands of volunteer hours they provide each year. INVESTME￿ POLXCY Th¢ Parish is a long-terni investor. Its principal &5sets have historically been property, held for both fi￿CtIonal and investsllent purposes. Two residential properties were owned at the end of 2024. On¢. which was originally acquired in 2015 as accommodation for the rurnt¢, has been let since December 2017, when a more conveniently situated bouK owned by St Mary's ch￿￿h of England Charity (an associated charity), became available for the curate's use. The other pro￿ty. a long lea8ebold flat bought in 20J I, is heEd as an inv¢stEne]Jt asset. Th¢ Parish has au inv￿¢nI in thc N¢wton Real Return Fund wtiich is designed to give a steady flow OF income and appreciation in the underlying assets that at least matches infiation, but at a low level of risk. In 2024 income amounted to £11930 (2023: £11.806) and w&8 an unrea]ised ¢apitsl gain of £16,844 (2023- loss £2,863). Additional inforniation on investments can be found in Note 19. RISK REVIEW The PCC'S principal areas of risk are considered to be: Workin with children and volnerable aduEts - experienced Safeguarding Officers have been appointed and policÉes and working practices are reviewed regularly. All adults working with children and vulnerable adults are subjeci to DBS (Disclosure & Barring Service) Checks. The Parish's Safeguarding Officers are supported by the Dioctse's specialist team. e to the churches - the PCC asks its insurers. Ecclesiastical tnsurance Group, to carry out regular risk reviews and insurance cover is updated al￿￿ally. Fire and smoke alanns protect Ihe buildings and valuable contents are security marked. Theft of church contellts - St Margs Church, which is open every day. is staffed duriug the opening hours. All Saints. Church is only open for Scryi￿5 and othcr specific cv¢nts, for whirh stewards are always present. Deterioration of the buildi - a full quinquennial 5urYcy is caThied out in accordance with Church regulations. B(rth churches were Surveyed by the Parish Architect during 2022. Fraud or financial loss - procedures are in place which ensure that at least two people are involved in relation to cash counting and banking: the appmval of eX￿nditUre and the approval of paymcnt. Thc PCC a finance Comrnittc¢ rnad¢ up of th£ ReGtor. th¢ TraTn VicaT and th¢ treasurets of the Patisty St Mary's Church and All Saints, churc￿ two of whom are Chartered Accountants. Health and safe - both churches have health and safety Manuals 2nd risk ￿esSMents are carried out for those activities that are considered to FK)se any enFthnced risk io THE PAROCHtAL CHURCH COUNCIL OF THE ECCLESJASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY TRUSTEES, ANNUAL REPORT (Wtin4edJ YEAR ENDED 31 DECEMBER 2024 ASSOCIATED CHARITIES Putne Parish Develo ent Trust (cbartty no. 279868) - the Rector and two other members of thc PCC are tbc trustees. The Trust was dorniant thmughout 2024. Stm 's Parish T (charity no. l 112724) - the Rector and the W￿en5 of St Mary's Church aTr trustees. The Trust manages th¢ Brewer Buildin& which is a part of the St Mary's complex. ondcsold Trust (charity no. 254376) - the Rector and the Wardens of St Mary's Chutch are trustees. This is a small non-ecclesiastical grnnt n]aking charity which holds some investments. No grants were made in 2023. St 's Chur¢h of En and Char (cbarity no.1173135)- the RectOT and the Parish Wardens are trustees. This charity oivns a residential propety which is used by a curate. when the￿ is one in posL which there has been since May 2019, aud which is let con)mercially at other times. When the propety is let the charity nornially makes a grdnt to the Parish equal to the Det rent received. More inforniation is provided in Note 25 to the financial statements. INDEPENDENT EXAMtNER Mr Edul A vari Bcom MAA T of E J Avari & Co Lrf a member of the Association of Accounting Technician& was appointed &5 Independent Examiner of the Council's accounts on 3r July 2023. Mr Avari b&s expressed his willingness to continue in office and a resolution to reappoint hitn was approved at the Annual Parochial Church Meeting held on14th May 2025. The trustees, annual report was approved on of trustees by: August 2025 and signed on behalf of the board Rev'd Joh Ivhittaker (Team Rector) THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PtrrNEY INDEPENDEiYf EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHtAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINfs' PUTNEY YEAR ENDED 31 DECEMBER 2024 I report to the trustees OD my exaMI￿tion of the financial statements of The Parochial Church Council of The Ecclesiastical Parish of St Mary with All Saints, Putney Cthe charity,) for the year ended 31 Decemb¢r 2024. RESPONSIBILrriES AND BASIS OF REpoKr As the trustees of the charity, you ar¢ rcswnsible for the preparation of the financial statsments in accordance with the requirements of the Charities Act 2011 ('the Act,). The Trustees consider that an audit is not required this y&qr under section 144(2) of the Act and that an independent examination is requir¢d. I report in respect of my examination of the charity's f￿ancial statements carried out UDder section 145 of th¢ 2011 Act and in canying out my examination I have follow￿ all the applicabje Directions givcn by the Charity ColD￿lsSIon under section 145(5Xb) of the Act. INDEPENDEIYT EXAMtNER'S STATEMENT Since the charity's gross ftncome exceeded £250,000 your examtner must be a member of a body listed in scction 145 of the 201 l Act. E confirm that l am qualified to undertake the examination because l am a member of the Association of Accounting Teclmicians. which is ollc of the listed bodies. I have completd my exaTnination. I confirn) that no materlal matters have come to my att¢ntion in connection with the examination giving me cause to b¢lieve diat in any Tnateriaj respecL' accounting records were not kept in wt of the charity as required by sertiOD 130 of th¢ 2011 Act. or the financiaI statements do not accord with those records. or the financial statements do not comply with the applicable requtrements concerning the forni and content of accounts set out in the Charities (Accounts and Rcports) Rcgulations 2008 other than any requirement that the accounts give a 'true and faif view which is not a tnatter 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 aLrounts to be reached. Edulji J Avari Bcom MAAT E J Avari & Co Ltd Association of Accounting Technicians (Licence no." IlJ)4948) 178 Tiryford Road Harrow Middlesex HA2 OSN ugust 2025 THE PAROCHIAL CHIJRCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 21124 2024 R¢stri¢ted fijnds Totsl fi￿dS Total funds Unrestricted funds 2023 Note Ineome and endowmeDts Donations and legacies Charitabl¢ activities Other trdding activities Investment income Other income 527564 96,159 43.812 571,J76 96,159 i8.709 450,382 82,160 34,171 73.762 4.752 83.9i9 16.585 762,956 16,585 Total iocome 43.812 806.768 Espenditure Expenditurc on raising funds: Costs of raising donations and legacies Inveslment management costs Expenditure on charitable activities Total expenditure 645.227 682 25.814 558,630 585.126 670 1.836 11.793 614,062 627,691 io 11,12 25,814 588.451 29,821 30,491 615.617 Net income 177.830 13321 191,151 17,404 Net gainsl(losses) on investments 17.536 13 17.404 977 Net movement in fvnds 195234 13J21 208,555 18.513 Reconeiliation of funds Total fimd5 brought forwanl as previously reported Total funds carried forward 1,841205 2.036,439 233,665 2.074.870 2,283,425 2.056.i57 2.074.870 246.986 The stat¢ment of financial activities includes all gains and losses reCo￿ls¢d in the year. All income and expenditure derive from continuing activities. The Dotes OD pages 16 to 35 fonn part of these fmancial ststements. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PIIRISH OF ST MARY WITH ALL SAITrITS' PUTNEY STATEMEIYT OF FINANCIAL POSITtON 31 DECEMBER 2024 2024 2023 Note FIXED ASSETS Tangible flxed assets Investments 18 19 381,964 1,420,392 1.802.J56 376.663 1,402,919 1.779,582 CURRENT ASSETS Debtors Cash at bank and in hand 20 53.755 466,120 519.875 48,955 293,736 342,691 CREDITORS: amollnts falling due within one year 21 (J8.806) (47.403) 295,288 I¥ET CUIiRENT ASSETS 481,069 TOTAL ASSETS LESS CURRElYt LIABILrriES 2.283.425 2.074.870 FUNDS OF THE CHARITY Restricted funds Unrestricted funds 246.986 2.036.439 233.665 1,841,205 2,074,870 Total charity funds 2,28),425 Thesc financial stat¢ments were approved by the iM)ard of trustees and authorised for issue on Y August 2025, and are signed on behalf of the tnLStees by: Revd John Whtitaker Rector Richard Holman Parish Treasurer The notes on pages 16 to 35 form part of these fiDan¢ial 8tstements. 14 THE PAROCHtAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARtSH OF ST MARY WITH ALL SAINTS, PUTNEY STATEMEiYf OF CASH FLOWS YEAR ENDED 31 DECEMBER 2024 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Nct (exp¢nditure)/income AdjzLflmentsfor.' Depreciation of tangible fixed ￿ets Net (gains) oll invcstments Other interest receivable and similar income Changes in." Trdde and other debtors - (increase) Trade and other crcditors- (reductKOD) Cash generated from operations Interest received Net cash (used inyfrom opernting activities 208,555 6.188 (17.404) (83,939) 5,442 (977) (7).762) (4,800) (8.597) 100,003 11.378 14,023 (25,i83) 83,939 183.942 73.762 CASH FLOWS FROM INVESTING ACTlVtTIES Purchase of tangible &ssets Purchases of other investments Net cash used ill investing activities (11.489) (18,112} (69) (1.174) (11,558) (19.286) NET (DECREASE)ItNCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNINC OF YEAR CASH AND CASH EQUIVALENTS AT END OF YEAR 172,384 293.736 466,120 29,093 264.643 293.736 The notes on pages 16 to 35 forni part of these fthaneial stateJDents. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The charity is a public tKnefit cntity and a registered chality in England and Wales and is unincorporate& The addr￿ ofthe principal oifice is St Marys Church Putney High Street, Putney, London, SWI 5 1 SN. STATEMEKf OF COMPLIANCE These financial statements have been prepared in compliance with FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recoromended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting SL2ndard applicabl¢ in th¢ UK and Rcpublic of trcland (FRS 102) (Charities SORP (FRS 102)) and the Cbarities Act 2011. ACCOUNTING POLICIES Basis of preparation The finan¢iaI statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilitie5 and investmcnt properties measured at fair valu¢ through income oi expenditure. The financial statements are prepared in steAing. which is the functional currency of the entity. Going concern There are no material uncertainties about the Cl￿ri￿S ability to continue. Fund aceounting Restricted Funds: A restricted fund 15 a fund subject to specific trusts (e.g. by a letter from the donor at the time of gift). It may be a capital fund, which Cal￿Oi be stKnt but t￿￿￿t be ￿taIned for the benefit of the church, or it may be an income fu￿ which must be spent on the specified purpose within a reasonable time. Unrestricted funds: All funds held for 8enernl purposes are known &s unrestricted fi￿d$ to distinguish thetn from restricted funds. The church's unTestrided funds are therefore those which are held for spending at the PCC'S discretion. These include any ￿rther funds which the PCC has designated for particular purposes. Desi ated fimds: Tf the PCC sets aside part of its unrestricted funds for a particular project it may place th¢se in a separatc unrestrtctcd fimd called a designat¢d fund. All unrestricted fimd8 comprise incomc funds which the PCC MU￿ spend within a r&wnable iinie. io THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STA TEMENTS (thnllmued) YEAR EI¥IDED 31 DECKMBER 2024 ACCOUNTING POLICIES (Continvdj Incoming re50urees Volun Collections arc reco￿1]sed when received by or on behalf of the PCC. Tax recoveTrble under Gift Aid is recognised when the income is recognised. Other, non-specific donations are reLognised when receivcd. Funds raised by fetes. quiz nights and similar events are accounted for gross. Otber income: Rental income from the letting ofprotw is Tecognised when the rental is due. Sales ofmagaziDes are accounted ￿. Dividend incorne is accounted for when due and payablc. Bank Intere￿ is recognised and recorded in the fmancial statements as the incoTne accrues. Realised gains on properties are recognised when the properties are sold. Realised gains and losses on invc5tmeDts are recognised when the invest￿ents are sold. Unrealised gains or losses are ac¢ouDte4J for on revaluation of investments at 31 December 2024. R&sourees expended nditure Generall Expenditure is included on an accruals basis and ts recognised when there is a legal or constrnctive obligation to ￿aY for cxpenditure. Grants Grants and donations are accounted for when paid over: or when awarded. if that award creates a bindtng obligation on the PCC. Activities direcd relatin to the work of the Church: The Diocesan Parish Supwrt Fund is accounted for in the year to which it relates. Any Parish Support Fund instslment unpaid at J l December is provided for &8 operational liability, and is shown &8 a creditor in the balance sbeeL T4ngible asstts and moveable church furnisbiD Cor￿eCrat￿l and beneficeAI property of any kind is excluded from the accounts by section 10 (2)(c) of the Charities Ath 201 l. This comprises mainly St Mary's churc￿ Putney High Strcet and the sutrounding18nd. and All Saints, churc￿ Putney Common and its land. The Parish also owns the freehold of the Old Burial GToun(L Upper Richmond Roa¢ for the management of which the London Borough of Wandsworth bas statulory responsibility. Moveable church fim]ishings held by the VicaT and Cburch wardens on special ttijst for the PCC and which require a faculty for disFK)sal, are accounted inalienable property unless consecrate They are listed in the Church's inventory which can be inspected (at any reasonable time). For inalienable propety acquir¢d Prior to 2000 there is insufficient cost inforrnation available and therefore such assets are not valued in the accounts. Items acquired since January 2000 have been capitalised and depreciated in thc accounts over their currently anticipated useful economic life on a straight line basis. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAtNTS' PUTI¥4EY NOTES TO THE FINANCIAL STATEMENfs (cothued) YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Tangible assets (CODtiDued) Improvements to consecrated or beneficed buildings C05ting less than £1,000 are included in the resources expended in the year in which they are incurred. All rnainlenance aTAd reydirs are also Included in the resources expended in the SOFA for the year in which the expenditure arises. Other irnmoveable Other inmioveable propety comprises both functional and investment assets. Functional property is held with the primary pUr￿se ofhousing cl¢rgy: although when it is not required forthis purpose it is let in order to generate income for the Parish. Investment property is held to provide incorne and with the objective of oblaining capital appreciation over time. The Patish regards itself as a long terni investor. At the year end the Partsh owned a long leasehold apartmenL which was acqutred during 2015 for clergy use, although it is currently let commercially, and a long leasehold aparthjent as an investment. Thc former 15 shown at cost and it has not been depreciatcd in the financial statements on the grounds of immateriality, due to the very long economic life and its expected residual value. Its value was estsmated by Parkgate Estates (Richmond) Ltd on 24 October 2023 bcing in the region of £350,000 to £375,000. Since the Cost price fa]Is within that rdnge llo revaluation gain or loss h&8 been reflected io the accounts. The latter property is included in the accounts at fair value as of 3 l$t D¢cember 202i, following revaluation by Parkgate Estates (Richmond) Ltd. Chwch o￿tce equipmen¢ including computffls. office equipment and fi]rniture used within the Church premises, is depreciated on a straight line b3sis over four years for IT equipment and ten years for other equipment and furniture. Individual items of equipment wÈth a purchase price of £ 1.000 or below are not Capitalise￿ and thus aTe included Tevenue expenditure in the SOFA in the year of p￿ChaSe. lllvestments Investments are revalued to markct valuc at 31 December 2024. Depreci8tlOD DepTeciatioTh is calculated so as to write off the cost of an 2sseL less its estimated residual value, ovcr the useful economic life of tbat asset a5 follows: Depreciation Is provided on all tangible fixed assets at rates calculated to WTite off cost on a straight line basis ovcr their expected useful economic Iivc5 as follows- Church office equiptnent and computers Chwch furniture Godly Play equipment - 4 years. 10 yeaTS. - 20 ye8Th. Current 9&gets Atnounts oviing to the PCC at 31 De¢cmber 2024 in respect of fees, rents: or other in¢ome aTe shown aq debtors. less provision for any amounts that may prove uncollectlble. Short term dcposits include cash held on dysit with the CBF Churth of England Funds. or at the 18 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PtrrNEY NOTES TO FINANCIAL STATEMENTS (tx7Xllnued) YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES InV￿lment property tnvestment property is initially recorded at ¢osL which includes PUTchase price and any directly attributable ex￿nditure. Investment proFtty is revalued if the Parochial Church Council considers that there has been a material movement in the market value and any changes in fair value are recognised in income or cxpenditure. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property. it shau be transferred to tangible assels and treated a5 such until it Is cxpected that fair value will be reliably measurable on an on-going basis. Impainnent of fixed assets A rev7ew for Indicato￿ of impairnient is carrted out at each repx)rting date, with the recoverable amount being estimated wher¢ such indicators exist. Where the carrying value exceeds the recoverable amoun¢ the a&8et is impaired accordingly. PrioT impairnlents also reviewed for possible reversal at each reporting dat& Recoverable amount is the higher of fair valu¢ less ¢osts that would be incurred in selling and the value in use. If the recoverable amount of ally asset is estimated to be less than its carrying amount the catying amount of the &ssets is Teduccd to its recoverable amount. An impairment Ios5 is recognised immediately in the statement of financial activities in the year. unless the relevant asset is c￿Tled at a revaLued amounL in which case the I￿￿[￿nen1 lo&s is treated as a revaluation decre￿. R¢rognised impairtnent losses are reversed if, and only 1£ the reasons for the impairnient10ss have ceased to apply. Where 8n impairment loss subsequently reverses the carrying amount ofthe asset is increased to the revised estimat¢ of its Tecoverdble amounL but so that the increased carrying amount does not exceed the carrying amount that would have been detennined had no impaiTment loss beeu recognised for the asset in prior years. A reversal of an impairnient loss is recognised IMM￿late]y, unless the relevanl &8set is canied at a revalued amounL in which case the reversal of the impairment loss is trealed as a revaluation increase. Finaneial instruments A financial asset or a financial liabiiity is recogDised only when the charity becomes a paty to the contractual provisions of the instrument. Basic fmancial Rnstnllnents are initially recognised at the amount receivable or payable including any Telated transaction rosts. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instnllnents are subsequently measured at amortlscd cost. Where investments in shares are publicly trdded or theiT fair value can otherwise b¢ mcasurcd reliably. the investment is subsequently measured at fair va]ue with changes in fair value recognised in income and expendikne. All other such investments are sulxgequently measured at C4)st less impairnienL THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMEI¥TS YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLlCtES Fillancial instruments (contd) Other financial instnllnents, including derivalives. are initially recognised at fair value: unless payment for an asset is deferred beyond nornial business tern]s or financed at a Tate of interest that is not a market rate. in which case the asset is me&8ured at the present value of the future payments discounted at a market rate of interest for a similar debt iELStrument. Other financial instnunents are subsequerrtly measured at fair value, with any Ghang¢s rccognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial &ssets that are me&sured at cost or amortised cost 8re reviewed for objective evidence of impairn]ent at the end of each reporting date. If there is objective evidence of irnpairn]enL an impairment loss is recognised under the appropriate headillg in the stateJDent of financial athivities in which the initial gain was recognis¢(L For all equity instruments regardless of significance, and other fmancial assets that are individually sigoificanL these are assessed individually for impairn]ent. Other financial assets are eÉther assessed individually or grouped on the basis of similar credit risk chardcieristics. Any reversals of impairment are recognised inlluediately. to the extent Ihat the reversal does not result in a Carrying amount of the fllwicial assetthat excecds wbat thc carrying amount would have been had the impairnient not previously been recognise Pensions - Defined contributioll plans ContributioDS to defined contribution plans are recogDised as an expense in the period in which the related service is provide(L Prepaid contributions aTe re¢ognised as am asset to the exlent that the prepayment will lead to a reduction in future pa￿ents or a cash Jrfun When contributions are not expected to be settled wholly within twelve months of the end of the reporting date in which the employees render the related service. the liability is measured on a discounted present value basis. The unwinding of the discount is recogniscd as an ¢xpeDs¢ in the period in which it arises. 20- THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF ST MARY WtTH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENTS (r•ftd YEAR ENDED 31 DECEMBER 2024 DONATIONS AND LEGACIES Unrestricted Restricted Total Funds Fun Funds 2024 DONATIONS Gift Aid dollations Income Tax RecoverdbIe 256.817 69,847 256,817 69.847 CIFTS Collections Donations Legacies 40.312 40.312 87,772 116.628 43.812 116,628 527.564 43,812 571,376 Unrestricted Restricted Total Funds Fund8 Funds 2023 DONATIONS Gift Aid donations Income Tax Recoverdble 241.732 60,690 241,732 60.690 GiFrs Collections Donations Legacies 37,101 37.101 46,392 64,467 450,382 25,040 64,467 425.342 25,040 CHARITABLE AcrivrrIES Unrestricted Total FuDds Unrestricted Total Funds 2024 Funds 2023 Church I£ttings Magazine advertising 70.107 770 25282 70.107 770 25.282 69,273 400 12,487 69,273 400 11487 96,159 96,159 82,160 82,160 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE Fll¥ANCtAL STATEMENTS (cwiiiA¥edJ YEAR ENDED 31 DECEMBER 2024 OTHER TRADING ACTtVlTIES Unr¢strict¢d Funds R¢stricted Totsl Funds Funds 2024 'rn￿t Income Other grants i5,958 2.751 35.958 2,751 38,709 i8,709 Unrestricted Restricted Tolal Funds Funds Funds 2023 Trust Incon 34.171 34,171 i4,171 INVESTMEIYT INCOME Unrestrtcted Funds Restricted Total FuDd5 Funds 2024 Church Property Rentsl Income Interest and Dividends 62,496 62,496 21,443 83.939 8i,939 Unrestricted Fun(L8 Restricted Total F￿d8 Funds 2023 Church Property Rellt￿ In￿m¢ Interest and Dividends 56.848 16.9l4 56,848 16.914 73.762 73,762 22 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMEiYfs(rnfttsR4edJ YEAR ENDED 31 DECEMBER 2024 OTHER INCOME Unrestricted Funds Total Funds 2024 Events Other income 14571 2,014 14.571 2.014 16.585 16,585 Unrestricted Funds TotaI Funds 2023 Events Other income 4.080 672 4.080 672 4.752 4.752 COSTS OF RAtSING DONATIONS AND LEGACIES Unrestricted Fullds RestricteJJ Total Funds Funds 2024 F￿draISIng Event Costs 682 670 1,352 Restricted Total Funds Funds 2023 Fundraising Ev¢nt Costs 1,836 1,836 10. INVESTMENT MANAGEMENT COSTS UnTestrictcd Total Funds Unrestricted Total Funds Funds 2024 Funds t property ' Maintenance Servic¢ charges and other costs Letting Commission Other expe￿￿eS 14.176 5.529 5.495 614 14.176 5.529 5.495 614 2.899 5.924 2,970 2.899 5.924 2,970 25,814 25,814 11.793 THE PAROCHIAL CHURCH COUNCtL OF THE ECCLESIASTICAL PAtUSH OF ST MARY WITH ALL SAU•4TS' PUTNEY NOTES TO THE FINANCIAL STATEMENfs (É¥ttthw YEAR ENDED 31 DECEMBER 2024 11. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Unr¢strict¢d Restricted Total Funds Fullds Funds 2024 Missionary and Charitsble Giving Diocesan Parish Support Fund Clergy expenses and accommodation Salarie5 and NIC Lay Staff Choirs and music Teaching, mission and evangelism Service expenses Wedding and Funeral costs Event expeDses Light. Heat & Water Insurance Maintenance - Buildin￿ and Grounds Cleaning and W&ste Disposal Parish Magazine Church Letting Expenses Licences Telephone & Internet Printing, Postage & Stationery IT Support and software Equipment Hospitality Staff Recruitment Staff travel Subscriptions Bank Cbarges and Int¢rcst Sundry expenses Depreciation Accounts examinatio 3.050 278.000 7,284 24.879 27,929 278.000 7,284 94,370 18,130 879 4,017 6,618 13,582 14,045 ?6,976 9,420 33.838 10255 800 9.018 511 5.321 6,146 915 1.279 2,218 1,767 437 1208 942 2.137 6,188 5,100 588,451 6,618 li.582 15.417 26,976 9,420 (1.372) 10,255 800 9.018 4.817 6.146 915 1.279 2,218 1.767 504 437 1.208 ioi 2.li7 1,795 5,100 4,393 558,630 ?9,821 Unrestricted Funds Restricted Total Fund5 Funds 2023 Missionary and Charitable Giving Diocesan Parish Support Fund Clergy ¢xp¢nses and accommodation Salaries and NIC Lay Staff 2,106 298,000 7.555 97.817 42.839 44,945 298.000 7.555 97.817 El-l Choir8 and music Tcacliirjg. missxon and cvanscli5 Service expenses Event expenses Light, Heat & Water Insurance Maintenance - Buildings and Grnunds Cleaning and Waste Disposal 20.858 1,742 6,739 8,265 i9,9i5 8,866 27,897 7,568 20,858 10.385 8.643 8.265 8.866 27,897 7,568 24- THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY ￿TH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENfs (COXliuuEd) YEAR ENDED 31 DECEMBER 2024 I I. EXPENDITttRE ON CHARITABLE ACTMTIES BY FUND TYPE {Cont'd) Unrestricted Funds 1.200 5.996 1,540 Restricted Totsl Funds 2023 1,200 5.996 1.540 1,641 4.959 2.479 Parish magazine Church letting expenses Office rent Telephone & Internet Printing. Postage & Stationery IT Support and software Equipment Hospitality Staff trnvel Subscriptions Bank Charges and Interest Sundry expenses Depreciation Accounts exao)ination 4,959 2.479 1.118 1.523 807 425 506 1.896 2,881 5,700 1,523 807 425 506 1.896 5,442 5.700 2.561 560.019 54,043 614,062 12. EXPENDITURE ON CHARITABLE AcrtVlTIES BY ACTMTY TYPE Giving Wider Church Ministy Faciliti¢5 Admin Total 2024 PaTish Support Fund Lay staff Other expenses 163.080 39,404 67.131 269.615 114,920 278,000 94,)70 216,081 588 451 11.214 95.695 106,909 43.752 27.929 27,929 114.920 Giving Wider Church Ministy Facilities TotaI 2023 Admin Parish SupEKPrt Fund Lay stRff Other expenses 132,900 42,781 57.)32 2Ji,013 165.100 14.052 95.704 109,756 298,000 97,817 218.245 614,062 40.984 44.945 44,945 61,248 165,100 13. NET GAINS I LOSSES ON INVESTMENTS Unrestrictsd Totsl Funds Unrestricted Total Funds Funds 2024 Funds Gains OD listed investments 17,404 17.404 977 977 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENTS{conrfnuedJ YEAR EISDED 31 DECEMBER 2024 14. NET (EXPENDITUREYINCOME Net {expenditure)fmcome is stated after chargingl(CTedÉting): 2024 2023 Depreciation of tangible r￿ed ￿ets 6,188 5.442 15. INDEPENDENT EXAMINATION FEES 2024 2023 Fees payable to the Inde[￿dent examiner for. Independent examination of the financial statements 5.100 5,700 16. STAFF COSTS Th¢ total staff costs and employee benefits for the ￿p)rting period aoalysed as follows: 2024 2023 Wages and salaries Social security costs Employer contributions to pension plaDs Terniination payment 86.629 936 1,816 4,989 94.370 94,659 1,183 1,975 97,817 The averdge head count of eEnployees, including part-time staff, during the year was 10 (2023: 10). The average number of employees durillg the year comprised ) administrative staff (2023: )), 4 organists (2023: 4), 2 children's workers (2023: 2) and I managing facilitie5 (2023: 1). Durtng the year the PCC employed a pro￿rtY manager, pastordl &8SiStants, children's workers. church administrators atLd orgaDisLs: none of whom ¢arncd £60.000 ￿ or more. Organists who deputised at services and pmfessional choir members were paid on a freelance basis. 17. TRUSTEE RElkTUNERATION AF4D EXPENSES DurirLg the year no member of the PCC received any Teirnbursement of expfflises or remuneration in relation to that role. Parish clergy a￿ employed by the Church Coujmissioners and are theTefore not regarded a5 employees of the PCC. 26- THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMEiYfs (cvnrLY4d) YEAR ENDED 31 DECEMBER 2024 18. TANGIBLE FIXED ASSETS Land and buildings Equipment TotAI Cost At l January 2024 Additions 351724 130,933 11.489 483.657 11,489 At 31 December 2024 DepreciatioD At I J￿Uary 2024 Charge for the year At 31 December 2024 Carrying amount At 31 Deeember 2024 At 31 Decemlw 2023 352.724 142.422 495,146 106,994 6,188 106,994 6,188 113,182 lli.182 352,724 29,240 381,964 i52.724 23,939 376,663 Valuation of fixed gssets The leasehold land and buildings consist of a residential apartment at 88 Hayward Gardens. Puthey, which w&$ acquired in 2015 as accommodation for a curate. The ptoperty is let when. as in 2024. it is not required for PaTish staff. The property has been reviewed for impairn)ent and no depreciation charge is being made on the gmunds that: The PCC h&8 a policy and practice of regular maintenaTRce and repair of the propety. and it is unlik¢ly to suffer any economic or technical obsolescence. The estimated remairjing useful life of the building wtll exceed 50 yeaTS. Any depreciation charge would be itnmaterial and would not re&8ODably Infi￿nCe the use of the accounts. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ￿Ry WITH ALL SAINTS, PUTNEY NOTES TO THE FtNAIYCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 19. INVESTMENTS Listed Inv¢strnent inveslments propertÈcs Totsl Cost or valuatlOD At l January 2024 R¢a]location at 01.01.24 Additions (income reinvested) Fair value movements i02,919 (566) 635 17,404 900.000 1,402,919 (566) 635 17,404 At 31 December 2024 520.i92 900.000 1,420J92 Carrying amount At 31 December 2024 520,392 900.000 1,420,392 At 31 DecemE￿r 2023 502.919 900,000 1.402,919 All investments Sho￿ above are held at valuatio The reallocation at I" January 2024 was between investments And cash fimds held by the Diocese. Investment properties Th¢ Parish owns a residential long le&sehold property at 14) Kenilworth CourL Lower Richmond Roa(L Putney, wbich is included in the accounts at fair value as of J15[ December 2023, following revaluation by Parkgate Estates (Richmond) LtIL The PCC is S￿lsfied that this investtnent has suffered no long-tenn impainnent ID value. The valuation is based on considerable experience of Selli￿ and letting tlats in Kenilwortb CourL an cstatc of 150 apartments which built in 1905. The method was referencing recent sales on the cstat¢ and adjusting for dissimilar factors. such &8 the number of bedrooms and the condition of the propety. The maill assumptioDS were that vacant possession was available and that, confimied by the Parish. the flat was An good condition. It is the opinion of the trustees that there is no material change in the valu¢ of the propety since the 31 December 2023 valuation. Financial assets held at f2ir value Other investm¢nt &S5ets consist of: - 294 Class B ordinary equity shares in Shell Plc. - 585 units in the CBF Church of F.ngland investment fuFHI. - 223,692.415 Units in Newton ReaI Rcrnrn Fund. Stock exchange investments are Tevalucd according to the published prices quoted in th¢ Financial Times at 31 Deccmber 2024. 28 THE PAROCHtAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY WITH ALL SAINTS, PUTNEY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 20. DEBTORS 2024 2023 Income Tax Recoverable St Mary's Parish Trust Prepayments and accrued income 15,131 17,707 20,917 53.755 12,022 22.626 48,955 21. CREDITORS: amounts falling due Ivithio one year 2024 2023 Trade creditors and xccrued expenses Tenancy Deposit Deferred Income Other creditor 21.461 3.053 14,092 200 2.934 11,8i6 ?00 38.806 47,403 21 PENSIONS AND OTHER POST RETIREMEwf BENE￿Ts Defined contribution plans 'the amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,816 (2023.. £1,775). J¥00￿c IJ>VJnMqTncJvJc)trJr/Jx>