PCC OF THE PARISH OF HOLY TRTNITY, HEADINGTON QUARRY Parochial Church Council of the Parish of Holy Trinity, Headington Quarry, Oxford Registered Charity No. 1138600 Trustees, Annual Re ort revised for the ear ended 31 December 2024
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY Introduction The Parochial Church Council IPCC) presents its Annual Report for the year ended 31 December 2024. Reference and administrative information The address of the church is Trinity Road, Headington Quarry, Oxford OX3 8LH. The address of the Parish Office is 46 Quarry Road, Headington, Oxford OX3 8NU. From 27 October 2010 the organization has been entered in the Register of Charities of the Charity Commission; the registration number is 1138600. The trustees, members of the PCC, at the time of this report, were as follows: Basis of appointment The Rev. Robert Gilbert, Associate Priest Ex officio The Rev. Emily Hockliffe Essex, Curate Ex officio Ms Andrena Palmer, Church Army Evangelist Mrs Janet Masters, Churchwarden Ex officio Ex officio Mrs Margaret Taylor, Churchwarden Ex officio Dr Rajendra Patel Deanery Synod rep., Ex officio Dr Tom Crook Deanery Synod rep., Ex officio Mrs Janet Masters Deanery Synod rep., Ex officio Ms Diane Mason Deanery Synod rep., Ex officio Mrs Monika Blackwell Elected Mrs Helen Day Elected Ms Joan Jones Elected Mrs Jan McLeod Elected Ms Felicity Wallendszus Elected Mr Michael Wooldridge Elected Mr Richard Stoneman, Treasurer Elected Mrs Diana Harrison Elected
PCC OF THE PARtSH OF HOLY TRINITY, HEADGTON QUARRY Miss Frances Farrar Elected Ms Andréa Taylor Elected Mr Richard Carling Elected Ms Yue-yi Hwa, Secretary Elected During the year the following people resigned: Laura Biron-scott Ex officio {Vicarl Nicholas Rollin Elected Dominic Vickers Elected
PCC OF THE PARISH OF HOLY TRtNITY, HEADtNGTON QUARRY Structure overnance and mana ement The PCC is a corporate body established by the Church of England. Its governing documents are the Parochial Church Council (Powers) Measure 1956 as amended and the Church Representation Rules. The PCC is a registered charity; our registered number is 1138600. PCC members are recruited in a number of ways. The clergy and churchwardens are members by virtue of their office. Deanery synod representatives and members of the PCC are elected by the annual parochial church meeting (APCMI and hold office for three years with the option to continue for a second term of three years. Other members of the PCC are co-opted. The PCC makes all decisions corporately except that the Standing Committee has delegated powers to make decisions between PCC meetings subject to keeping the PCC informed as fully as necessary. The PCC is responsible for all parish finance, its management and control, including the appointment of a treasurer. Members of the PCC are responsible for keeping accounting records, which disclose with reasonable accuracy the financial position of the PCC and which enable them to ascertain the financial position of the PCC and to ensure that the financial statements comply with the Charities Act 1993 and the Statement of Recommended Practice 2015. The PCC is also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The PCC is also required to ensure that the financial statements are examined by an independent examiner or auditor prior to presentation to the APCM. In preparing the financial statements, the PCC is required to: Select suitable accounting policies and then apply them consistently Make judgements and estimates that are reasonable and prudent Follow applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will remain in operation. The Standing Committee consists of the Vicar, the Associate Priest, the curate, the two Churchwardens, the Treasurer and the Secretary. It has power to transact the business of the PCC between PCC meetings, reportingto the full PCC as appropriate. The parish is part of the Cowley Deanery, which belongs to the Diocese of Oxford. Ob"ective and activities The objectives of the PCC are defined by the Parochial Church Council {Powersl Measure 1956 as 'to co- operate with the minister in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is committed to enabling as many people as possible to worship at our church and to become part of the parish community at Holy Trinity. The PCC discusses the worship throughout the parish and considers how services can involve the many groups that live within the parish.
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY When planning our activities for the year, the Vicar and the PCC have considered the Charity Commission's guidance on public benefit, and in particular, the specific guidance on charities for the advancement of religion. We try to enable ordinary people to live out their faith as part of our parish community through: The provision of public worship that is open to all The provision of sacred space for personal prayer and contemplation The provision of pastoral work including the visiting of the sick, the elderly and the bereaved The teaching of the Christian faith through sermons, children's meetings and links with local schools The promotion of Christian faith through various events for the elderly, parents and toddlers and others The support of other charities involved in Christian outreach and development. The provision of services for funerals, wedding5 and baptisms and sUPPOrt for the families involved. As a church family and as individuals, Holy Trinity Church aims to be an open door between heaven and earth, showing God's love to all. The parish aims to give to other organisations involved in mission in the UK and overseas or involved in humanitarian relief and development work 5% of voluntary income each year. The parish relies on the voluntary work of many people and the PCC very much appreciates their service to the churches and the local community. Achievements and erformance Worship. education, and spirltuality In 2024 the PCC saw the completion by Kingerlee of the long awaited extension, and in our 175th birthday year. It culminated in an open weekend in September to show the community all that had been achieved. The Bishop of Oxford attended a service and, combined with the confirmation of 8 young people, gave thanks and blessed the building. In November 2024 the Revd Laura Biron-scott left to become Chaplain of Balliol College, Oxford. She was warmly thanked and went with all our blessings for all her hard work and dedication to the parish and the building over the past five and a half years. The congregation has been growing steadily in numbers and in faith, and the Harvest, Christmas and Easter services have seen new people from across the community coming to join us in worship. We continue to work with Radio Cherwell to broadcast our Sunday service to the local hospitals and those who are housebound and not able to get to church. This service is very well received and has many listeners, even in different parts of the world. Our Forest Sunday School meets in the churchyard forest in good weather or when the weather is inclement, inside at the Coach House, or lately our new meeting room. They return to join the congregation for communion and the end of the service. They have also been taking part in many all- age services over the past year encouraging them to worship in a friendly and inclusive format. Home groups, prayer groups and some courses for reflection are now taking place in person and hopefully will grow in the future.
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY 2024 saw 5 infants and I child bapti5ed into the Christian faith and we welcomed their families. There were 3 marriages, 18 funerals, and 14 burials of ashes. Andrew Patterson Still continues at present to be our director of music and organist and works with the choir and the music group. Revd Emily Hockliffe-Essex has been admirably serving Holy Trinity during her curacy and has been invaluable with her time and expertise in this time of vacancy, alongside Revd Professor Rob Gilbert as our non-stipendiary clergy. The Parish Profile has now been completed with the help of the diocese and the advertisement has been circulated. Community Autumn 2024 saw the first Church fete since the building work began, and it combined a Summer and Christmas event. These events are always welcomed by the community. Added to which, as previously stated, the presentation of the new building involved welcoming in the community. Our eco church group and sustainable heating group continue to support our commitment to the fifth mark of Anglican mission: to safeguard the integrity of creation and sustain and renew the life of the earth. The Racial Justice group continues to look at ways to continue to be an inclusive church in today's uncertain climate. Pastoral care within the church and community provides practical help for those who are sick or housebound, often giving lifts to church or bringing communion to those unable to join us in church. Visitors come from all over the world as pilgrims on the C.S. Lewis trail, and they visit his grave and the Narnia Window dedicated to"The Lion, The Witch and The Wardrobe." Outreach We delayed our giving to our four Parish Charities in 2024 in order to gain clarity on the financial pressures and the uncertainty of the building costs. We have now approved that financial support, having reached sufficient confidence in our finances, and we will continue with these offerings in 2025. In addition to this we support Christian Aid, Gatehouse and Community food banks. Future We now look forward to welcoming a new incumbent in the coming months to lead and accompany us all on ourjourney of faith. We are continuing with our 175 anniversary talks on a variety of subjects. Our aim is to now reach out to the whole community and provide activities for families and children and encourage them to become part of our Holy Trinity family to further our journey of faith together.
PCC OF THE PARISH OF HOLY TRINITY, HEADtNGTON QUARRY Financial Review We have had to revise our accounts after discovering on the day of our Annual Parish Council Meeting (APCMI that the Church of England treats church building works differently to standard accounting conventions. Rather than capitalise such building works, they are treated as a current expense. Whilst the revised accounts discussed below incorporate a number of adjustments from the original accounts, these are of a technical nature rather than reflecting any underlying change in Holy Trinity's finances. The revised accounts also include a restatement of our 2023 accounts as the initial works on our church extension were capitalised rather than treated as a current expense. Given the delays, we have also taken the opportunity to revalue our major asset, the Binswood Avenue property, and to make some adjustments to depreciation. With the construction of the long-planned church extension in full swing during 2024, prudential financial management, including the careful monitoring of cashflows, was the watchword throughout the year. In the event, we surprised ourselves on the upside. Were it not for a depreciation charge of over £8,000, we would have broken even on unrestricted funds when we had budgeted for a loss of more than £5,000 or over £13,000 including the depreciation charge; the charge is discussed further below. The most significant development in 2024 was that the church extension was completed successfully more or less on time. It is already proving itself a major new asset forthe Holy Trinity community and, additionally, ha5 great potential financially. Although the final costs are not yet in, we know the church extension project will be completed well within an acceptable and affordable overspend. For that, we owe a huge debt of gratitude to our outgoing vicar, Laura Biron-scott. The persistence and dedication she displayed throughout was heightened by her developing first-class project management skills from a standing startl As a result, a seriously complicated and difficult endeavour was brought to a highly successful conclusion. This success makes the improvement of Holy Trinity's finances, which was discussed at length in our 2023 report, a more straightforward exercise. The Finance and Strategy Group was duly set up in 2024 and has made solid progress developing proposals and an action plan to take forward the 2022 Hare Review of HTHQ finances. The group's first action focused on developing an early 2025 appeal for increasing unrestricted regular giving. It has also carried out initial work on mid-to-long-term plans where the new extension can be the fulcrum for income-enhancing activities that integrate better the church, its grounds and the Coach House. In this regard, long-standing plans for extending the church's graveyard have been revived, with some initial funding raised during 2024. A substantial increase in financial resources, including taking regular giving to a sustainable higher level, is essential for paying off the £250,000 20-year loan which helped fund Holy Trinity's extension. As the Hare Review identified, the remodelled church provides a beautiful setting where myriad new opportunities can be developed, particularly through bringing its rich heritage into the mainstream of activities. Increased income can go hand-in-hand with meeting Holy Trinity's aspirations more fully. Turning to 2024's financial results, unrestricted income increased by around £12,500 to £101,778, almost entirely reversing the fall in 2023. Although regular donations increased by more than £2,000 and charitable activities by a similar amount, the biggest contribution to the increase in income was the diocese's contribution towards the Curate's housing costs; this contribution was for the church's Binswood property, which had been rented out commercially prior to 2023. As to be expected, trading activities fell by more than £2,500 to almost nothing because there were few of the usual heritage visitors to the church whilst the extension was under construction.
PCC OF THE PARISH OF HOL Y TRINITY, HEADINGTON QUARRY Unrestricted cash expenditure was little changed, increasing by £1,500. However, a depreciation charge covering our sound and lighting equipment increased overall expenditure by a further £7,500. The modest increase in cash expenses masked significant changes under individual budget heads. With church extension expenditures going to plan, charitable donations were reinstated with a resulting expenditure increase of £5,000. Running costs and utilities fell by over £10,000, which was largely a reflection of the church's limited use whilst the extension's construction was underway. Whilst there was little change in other charitable expenditure categories, Other expenses increased by nearly £7,000. The largest item of expenditure each year is Parish Share. PCC paid the 2024 allocation of £47,000 (compared to £45,958 in 2023) in full and on time. Parish Share largely pays for clergy stipends, housing and training, and central C of E and diocesan mission activities. During 2024, restricted income amounted to £197,714, made up of over £80,000 of grants towards the costs of the extension with the balance of almost £118,000 in donations, including gift aid. Whilst most of these donations were for the extension, over £8,000 was raised towards the cost of developing the proposed extension to the graveyard with these funds earmarked for Oxford Cancer Research should the graveyard extension not go ahead for any reason. Restricted expenditure amounted to almost £547,000, of which some £534,000 comprised the bulk of the construction costs for Holy Trinity's new extension. The remaining expenditure included the first payments of loan interest towards the cost of the extension amounting to over £9,500. Drawing together the restricted and unrestricted funds, the church's overall deficit in 2024 was £357,695 on total income of £299,492 and total expenditure of £657,187. Thi5 hefty loss reflected over £500,000 expenditure on the church extension and the above noted convention that this should not be capitalised. For the same reason, the 2023 Statement of Activities have been restated as shown below. The Balance Sheet and its noted restatements include a revaluation of Holy Trinity's Bin5wood property, increasing its value by £465,000. As well as being desirable in its own right, this revaluation ensures that the Balance Sheet did not give an unrealistic impression of Holy Trinity's financial p051tion following the huge expenditure on its church extension. That expenditure resulted in restricted income funds falling from £147,815 at the end of 2023 to a negative asset position of £201,438 at the end of 2024. This negative asset POSltion on restricted funds solely reflects the way the Church of England treats church building works and is well covered by Holy Trinity's other assets. Total income fund5, or net assets, were £445,464 at the end of 2024 as compared to £338,159 at the end of 2023, the increase reflecting the revaluation of the church's Binswood property to £550,000. Whilst the PCC already has funds in hand for repayments in the early years, the efforts to improve Holy Trinity's finances include mid-to-long term plans for repaying the £250,000 loan for the church extension noted earlier. Raising funding to repay the entire loan as early as possible would result in the restricted income funds position at the end of 2024 again becoming positive. Although not urgent financially, early repayment would also further strengthen Holy Trinity's balance sheet, This would give PCC greater flexibility than it has had in recent year5 to fulfil Holy Trinit¢s mission more widely and deeply. Reserves Poli It is PCC policy to maintain a balance of at least 3 months, reserves cover. It is PCC policy to invest fund balances with the CBF Church of England Deposit Fund.
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY The general fund reserve total balance on 31st December 2024 was £38,736, an increase of £8,407 on the year. Three months, general fund expenditure is estimated to be £30,000 and therefore the current level of reserves is sufficient. One specific objective of the newly formed PCC Finance Group will be to identify ways to restore the balance of the general fund reserve to earlier levels. The financial statements were adopted by the PCC and signed on its behalf by: 10 201£ Mrs Margaret Taylor, Vice Chair
PCC OF THE PAIUSH OF HOLY TRINITY. HEADINGTON QUARRY INDEPENDENT EXAMINER'S REPORTTOTHE PCC OFTHE PARISH OF HOLYTRINITY, HEADINGTON QUARRY FOR THEYEAR ENDED 31 DECEMBER 2024 I report on the 8ccounts of the Charityfor the year ended 31 December 2024, which are set out in pages 10-18 below. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given bythe Charity Commission under section 145{51{b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records. or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 otherthan any requirement that the accounts give a'true and fair, viewwhich 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 orderto enable a proper understanding of the accounts to be reached. Svetlana Duncalf. Examiner Date... 10
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY STATEMENTOF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024- COMPARATIVES RESTATED SEE NOTE 18 Unrestricted Funds Restricted Funds Total 2024 Unrestricted Funds Restricted Funds Total 2023 Notes Income from: Donations and legacies Charitable activitie5 Investments Other trading activities Other income 81,694 7,551 1,303 197,714 279,408 7,551 1,303 79,086 5,687 957 171,821 250.907 5.687 957 187 187 2,853 2.853 11,043 101,778 11,043 581 581 Total income 197.714 299,492 89,164 171.821 260,985 Expenditure on: Raising funds Charitable activities Other 1.165 96,120 3,163 3,120 181,248 160 4,285 277.368 3,323 284,976 99.243 10.977 110,220 544,407 2,560 546,967 643,650 13,537 io Total expenditure 657,187 100.448 184,528 Net income /-expenditure Transfers between funds Gains /-losses on revaluation of fixed asset5 - 8.442 349,253 - 357,695 11,284 8.265 12,707 8,265 23,991 465,000 465,000 Net movement in funds 448,458 349,253 107,305 19,549 - 4,442 - 23,991 Reconciliatlon of funds: Total funds brought forwards Total funds carried forward 190,344 646,902 147,815 201,438 338,159 209.893 152,257 362,150 338,159 445,464 190,344 147,815
PCC OF'fHE PARISH OF, HOLY TRINITY, HEADINGTON QIJARRY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023- ORIGINAL VERSION BEFORE RESTATEMENTS Unrestrlcted Funds Restricted Funds Total 2023 Unrestricted Funds Restricted Funds Total 2022 Notes Income from: Donations and legacies Charitable activities Investments Other trading activities Other income 79,086 5,687 957 2.853 581 171.821 250,907 5,687 957 2,853 581 86,743 9,214 168 325 6,248 37,964 557 124,707 9,771 168 325 6,248 Total income 89,164 171,821 260,985 102.698 38,521 141,219 Expenditure on: Raising funds Charitable activities other 1,165 96,120 3,163 3,120 23,003 160 4,285 119.123 3,323 50 50 88,396 14,405 13,446 101,842 14,405 Total expenditure 100,448 26,283 126.731 102,851 13.446 116,297 Net Income / *xpenditure Transfers between funds 11,284 149,980 138,696 145,538 149,980 134,254 153 8,265 -8,418 25,075 8,265 24,922 Net movement in funds - 4,442 134.254 33,340 24,922 Reconciliation of funds: Total funds brought forwards Total funds carried forward 209,893 348.589 152,257 362,150 496,404 218,311 209,893 118,917 337,228 362,150 147,815 152.257 12
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024-COMPARATIVES RESTATED SEE NOTE 18 2024 2023 Notes FIXED ASSETS Tangible Assets li 593,197 136,462 CURRENT ASSETS Stock Debtors Cash at bank 655 6,652 190,281 655 21,754 190.005 12 197,588 212,414 CREDITORS: Amounts falling due within one year 13 118,465 10,717 NET CURRENT ASSETS 79,123 201,697 CREDITORS: Amounts falling due after one year 14 - 226.856 NET ASSETS 445,464 338,159 FUNDS INCOME FUNDS Unrestricted Income funds Restricted Income funds Revaluation reserve 15 16 181,902 201,438 465,000 190,344 147,815 TOTAL INCOME FUNDS 445,464 338,159 These financial statements were approved by the members of the committee and authorised for issue on and are signed on their behalf by: Trustee O. IC)2f 13
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2024 1. ORGANISATION STATUS The PCC of the Parish of HolyTrinity, Headington Quarry is a charity, registered with the Charity Commission in England and Wales. HolyTrinity is part of the Church of England 2. ACCOUNTING POLICIES The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the charities SORP 2015. The financial statements have been prepared under the historical cost convention and include alLtransactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. Funds Endowment funds are funds in which the capital must be maintained. Holy Trinity PCC does not have any such funds. Designated funds are unrestricted funds that have been set aside by the PCC for a particular purpose, and include the Binswood repairs and maintenance fund Restricted funds may only be expended on the specific object for which they were given. this includes the Building fund. Unrestrictedfunds are general funds which can be used for PCC ordinary purposes. These include the Binswood fixed asset fund and the General fund. Incoming resources Planned giving, collections and donations are recognized when received. Tax refunds are recognized when the incoming resource to which they relate is received. Grants and legacies are accounted forwhen the PCC is legalLy entitled to the amounts due. AIL other income is recognized when it is receivable. All incoming resources are accounted forgross and included in the SOFA. Income from the rental of 20 Binswood Ave is recognised when the rental is due. Resources expended Grants and donations are accounted forwhen paid over orwhen awarded. The diocesan parish share is accounted for when due. All other expenditure is generally recognized when it is incurred and is accounted for gross and is incLuded in the SOFA. Expenditure is included on an accruals basis. 14
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2024 Fixed assets Consecrated and benefice property is not included in the accounts. For anything acquired priorto 2002 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Equipment used within the church premises is depreciated on a straight-line basis overfour years. Individual items of equipment with a purchase price of £1000 or Less are written off when the asset is acquired. Freehold property, 20 Binswood Avenue, is recorded at a revalued amount, based on current market value. 3. DONATIONSAND LEGACIES Total Funds Total Funds Unrestrlrted Restricted Unrestricted Restrlrted 2024 2023 Donations Gift Aid Grants 64,962 15,712 1,020 81,694 100,259 17,455 80,000 197,714 165,221 33,167 81,020 279,408 61,874 13,562 3,650 79,086 112,159 6,388 53.274 171,821 174,033 19,950 56,924 250,907 4. CHARITABLE ACTIVITIES Total Funds Total Funds Unrestricted Restrlrted Unrestricted Restricted 2024 2023 Fees for weddings and funerals FeteslEvents Other income from charitable activities Payments for visiting Holy Trinity 5,729 5,729 3,567 3,567 150 150 411 411 1,672 1,672 1,709 1,709 7,551 7,551 5,687 5,687 The income from the fetes in 2023 has been included in the Restricted building project donation income. 5. OTHER TRADING ACTIVITIES Total Fund5 Total Funds Unrestricted Restricted Unrestricted Restrlrted 2024 2023 CS Lewis 187 187 2,853 2,853 15
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2024 6. OTHER INCOME Total Funds 2024 Total Funds 2023 Unrestrirted Restricted Unrestricted Restricted Rent received Energy Feed in Tariff Other 10,105 938 10,105 938 332 249 581 332 249 581 11,043 11,043 7. RAISING FUNDS Total Funds 2024 Total Funds 2023 Unrestrlcted Restrlrted Unrestricted Restricted C S Lewis purchases for resale Fundraising costs 1,165 1,165 3,120 3,120 3,120 4,285 1,165 8. EXPENDITURE ON CHARITABLE ACTIVITIES- COMPARATIVES RESTATED SEE NOTE 18 Total Funds Total Funds Unrestricted Restricted Unrestrlcted Restricted 2024 2023 Parish share Church building development Charities Supported Children and young people Churchyard Costs of church services Depreciation cost Fetes and other events Governance costs Office costs Parish Administrator Accountancy costs Running costs Utilities Professional Fees Education and Heritage materials Loan interest 47,000 47,000 45,958 45,958 533,728 533,728 166,881 166,881 5,351 272 466 4,663 8.265 90 240 6,589 7,621 6,189 3.664 7,674 5.351 272 466 4,663 8.265 90 240 7,578 7,621 6,189 3,664 7,674 152 269 4,321 3,621 656 135 240 6,508 7,275 4,696 8,080 13,232 201 152 269 4,321 3,691 8,921 135 240 9,546 7,275 4,696 9,155 13,232 2,120 70 8,265 989 3,038 1,075 1,919 1,157 1,157 776 776 9.690 9.690 Total charitable activities 99,243 544,407 643,650 96,120 181,248 277,368 16
PCC OF THE PARISH OF HOLY TRINITY, HEADtNGTON QUARRY NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 9. STAFF COSTS AND EMOLUMENTS 2024 2023 Wages 7,621 7,621 7,275 7,275 Atthe end of 2024the PCC employed one member of staff, the parish administrator12023. 1 members of staff). The churchyard assistant is remunerated for services provided. 10. OTHER EXPENDITURE Total Funds 2024 Total Funds 2023 Unrestricted Restricted Unrestrirted Restricted Binswood upkeep Repairs and maintenance 7,272 3,705 10,977 7.272 6,265 13,537 401 2,762 3,163 401 2,922 3,323 2,560 2,560 160 160 11. FIXED ASSETS- COMPARATIVES RESTATED SEE NOTE 18 Fixtures and Fittings Binswood Avenue IT Equipment Other Equipment Total COST At l January 2024 Revaluation Disposals Additions At 31 December 2024 85,000 465,000 69,864 1,968 6,393 163,225 465,000 550,000 69,864 1,968 6.393 628,225 DEPRECIATION At l January 2024 Disposals Charge for the year At 31 December 2024 20,958 1,968 3,837 26,763 6,986 27,944 1,279 5,116 8,265 35,028 1,968 NET BOOK VALUE At l January 2024 At 31 December 2024 85.000 550,000 48,906 41,920 2,556 1,277 136,462 593,197 Binswood Avenue is a freehold property and is included in the accounts at its current market vaLue.
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2024 12. DEBTORS 2024 2023 other debtors Gift Aid owing 52 6.600 6,652 1,644 20,110 21,754 13. CREDITORS: Amounts due within one year 2024 2023 Accruals Loan 96,368 12,604 9,493 2,051 Other creditors 8,666 118.465 10,717 14. CREDITORS: Amounts due after more than one year 2024 2023 Loan 226,856 226,856 8,666 8,666 15.UNRESTRICTED INCOME FUNDS Balati January 2024 Bal at 31 December 2024 Current year Income Expendlture Revaluation Transfers General funds Designated depreciation fund Binswood Property Binswood repairs and maintenance - designated 30,329 101,778 - 94,683 1,312 38,736 52,774 8.265 1,312 43,197 85.000 465,000 550,000 22,241 7.272 14,969 190,344 101,778 110,220 465,000 646,902 18
PCC OF THE PARISH OF HOLY TRINITY, HEADINGTON QUARRY NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Balatl January 2023 Bal at 31 December 2023 Prlor year- RESTATED Income Expenditure Revaluation Transfers General funds Designated depreciation fund Binswood Property Binswood repairs and maintenance - designated 41,613 89,164 100,448 30,329 61,039 8,265 52,774 85.000 85,000 22.241 22,241 209,893 89,164 100,448 8,265 190,344 A designated fund has been created for the future depreciation of tangible fixed assets. The transfer £8,265 in the previous year relates to the depreciation of assets purchased during previous years. In the current year, the depreciation is charged directly to the designated depreciation fund. A small adjustment of £1,312 has be made to agree the carryforward balance on the depreciation fund to the net book value of the assets. 16. RESTRICTED INCOME FUNDS Balatl January 2024 Bal at 31 December 2024 Current year Income Expendlture Capital expenditure Transfers Solar Panels for Binswood Project Fund Restricted building fund Statue repair Church Garden Extension and Oxford Cancer Fund 200 6,000 141.325 290 200 6,000 216,163 290 189,479 546,967 8.235 8,235 Total funds 147,815 197,714 546,967 201,438 Balatl January 2023 Bal at 31 December 2023 Prior year- RESTATED Income Expenditure Capital expenditure Transfers Solar Panels for Binswood Project Fund Restricted building fund Statue repair 200 6,000 145,767 290 200 6,000 141,325 290 171,821 184,528 8,265 Total funds 152.257 171,821 184,528 8,265 147,815 19
PCC OF THE PARtSH OF HOLY TRtNITY, HEADINGTON QUARRY NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2024 17.TRANSACTIONSWITH MEMBERS OFTHE PCCAND OTHER RELATED PARTIES Helen Day, a member of the PCC, received a salary totalling £7,62112023: £7,275) for herwork as parish administrator. Her appointment as parish administrator preceded her election to the PCC. 18.PRIOR PERIOD ADJUSTMENT During the preparation of the financial statements for the year ended 31 December 2024, it was identified that fixed assets acquired during the 2023 financial year (with a cost of £158,245) had been capitalised as required under the charity's accounting policy. However, the asset should not have been capitalised because it forms part of the consecrated land of a Church of England property which is excluded from tangible fixed assets. Instead, the cost of the building work should have been shown as expenditure in the SOFA. This has resulted in the following restatements to the 2023 accounts. Affected Item Previously reported Adjustment Restated Tangible fixed assets 131 December 20231 Restricted Expenditure on charitable activities 294,707 -158,245 136,462 23,003 158,245 181,248 Transfer between funds relating to capitalised fixed assets 131 December 20231 158,245 -158,245 20