FARNHAM PAROCHIAL CHURCH COUNCIL (Registered Charlty no. 1138855) FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 FARNHAM PAROCHIAL CHURCH COUNCIL FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 CONTENTS PAGE PCC Information Council Members, Report Fndependent Examiner's Report Statement of Financlal Activities Balance Sheet Notes to the Financial Statements 8-14 FARNHAM PAROCHIAL CHURCH COUNCIL PCC INFORMATION YEAR ENDED 31 DECEMBER 2024 Principal Address Parish Office The Rectory Upper Church Lane Farnham Surrey GU9 7PW Parochlal Church Council MÈmbers Members of the PCC are either ex-officio or are elected at the Annual Parochial Church Meeting in accordance wlth the Church Representative Rule5. During the year the following served as members of the PCC: Clergy The Reverend David Uffindell Churchwardens Martin Eberhardt Caroline Walker Elected PCC Representatives Lynn Attwood Emily Hislop {resi8ned a5 secretary on 28 April 2024) Mary Hollocks (Deputy Warden) Diana Martin Mike McDougall {resi8ned 22 November 2024} Loui5 Perry Sian Platt Geoff Riggs (Deputy warden} Jeremy Thorp (appointed 25 November 2024) Linda Tolmie Trevor W31ker Deanery Synod Representatlves Geoffrey Riggs Sian Platt Licensed Lay Minlsters Andrew Partridge Children & Families, worker Emma Dear FARNHAM PAROCHIAL CHURCH COUNCIL PCC INFORMATION YEAR ENDED 310ECEMBER 2024 Treasurer Mike McDougall sage from a r4gu1ar.vléwe￿ in North Carolina, U5AI Our soclal progr4mm4 tt4• seen Come Dine Wlih Me, Ma6lc 1118ht wlth Stqve PrSce. a￿￿1 N￿ht wth TEAR Fund, and a wonderful surnrner pScnlc and S￿l￿mIng party for all ages. Emma Dear. our Chlldr•n and Familie& worker. has now est¥J6lish•d 501id tèarhs for KOSTA (Sundays), lor Llitll Wi8qle5 (Babies and Taddler5 Dn Monday and Frlday moming51 and for th• Women's Ref use, newly arrived in town. Emma ij currentPy exp lorlng a 5ensÈ of call to fu rther ministry in the f uture. Martin Eberhardt, one of our churchwardens, is exploring è call to miThistry also, under the year-lor)8 Ca￿b prosramm@. 80th Mirtin and Emma hav• succ@Ssf ully navi8ated their Sia8e l assessments and have dates for their Sta8e 2 a5se55ment in the summer. Our LLM. Andrew Partrid£e has ¢onilnued to provide excellent hel p and SUPPO rt In le4dini services and in preachini. Four members of ￿ r churih family have em barked upcr% a di¢Ke5an le&dershl p progra mme ( Foundations in Ministry): Lynn Attwo•d, Liiiie Cronin, Loui5 Perry and Cirollne Walkor. We are very pleased to have seen several pgoplg step u p to new responsibilities orb rot05 •nd tean15 various, Thls has been espec1411y important and significant in our "tech" team as Adi m Dear ha5 passed the leadershlp baton on to M artin Upton. We continue to develop our relationships with St AndrevK$ School and Potteis Gate SchLX)Is. Emma arbd David are i nvolved iri a fortnightlw mornltte school assembly pro8ramme. We welcome children for thtlr régular lessons and 5eNlces in church, We now have a regu lar programme for all the year 8roups In 5t Andrew's •nd in Potters Gate Schools. The Atybey kr￿004 ha s again welcomed iermly assembl IÈS on church calendar thernes. Our Pastoral Team ory•nises carrfa for and visits to thosè eanfSnèd to their hornes, in addition to thosé l ivins in residential car• homes. Monthly Holy Commun ion ￿1 off4￿d In this way to considerable r)umber3 who are not ab4c 10 atrené chijrctt In person, through old age or Inflrmlty. Our Fabrio Fina nce and Grant-Funding Tèams have done extremely good Wofk thls year In m•na8in8 some ol the challenge5 f Iclng us. Under the workln8 tltle Vislon 2030 ( Routes and Ringers), our plan s for repairinR the tower and creatlng a more weleomlng and hospitable chLbrch SldlTh8 hivi Slow￿ rnDved forward. We have submitted a revised Expre551on of Interesi to the Natipnal Lottery Herltage Fund with thi5 ifp mlnd. N Ick PatrKk has worked wlth us as external consultant to hel p us connèct with potential partners In the local commun ty in new and excltin6 ways. We hive been deli8hted to conti nue our work wlth Lo¢a l Authority and with the Town Council in off ering service5 for the new Town M ayor. In COlltrdiriatin8 our annuèl Flernembrance Day 5eryi¢e on Gostrey Meadow and in hostln8 Ihe annual Clvic Caro15. The 8rowin8 Faf nham Llierary Festival. in the spri n8 of 2024 a nd the new town-wlde Laniefn Festkval I n ottober 2024 h8ve been wonderful 4dd5tl¢ns to this progra m me. Elgewhère you will be able to read about our Church Development Plan, an d about our part in the Parish Need5 Process, all part of our further devplopment and str3te8ic p12nnin8. Flnan¢tsl Ilevlew The results for 2024 are dominated by the sale of 6 Hl8h Park Road for a consideration of f 866.550 before costs ènd a net profbr of £824.733. The proceeds have bEen Invested and wil I be largely re5er¥ed lor the purchase of a curate's accommodation 1£sC￿,0(￿l and for the Heritage Project 1£300,CW). Sefoie tskiE)i attount of this disposal. i ncome totalled £200,139 (2023: £ 168.9681 a nd expendlturÈ totalled £ 228.9431£198.883>, resultln8 in net expendlturè beforé i nv@strnont incomé of £28,804 (2023: £29.915). After net 84in3 on inve3tment3, net exptnditure w•5 £25,855 {20Z3' £2L,675) The increase In income inclucjed a bequest of £20,c￿ and increased glvln8 of f15,758 (an increase of 14% on 2 013) as well as 8rapts of £11,884 in, respect of resto￿tIon y￿>rkS at St F ranc is chapel and hall but was off set tyy a loss of rent on 6 trligh Pèrk Road followlng its sale. ExpeTrdhtur• Increjsed by £30,060 cornpared to 2023. H¢wever, the 2023 fl8ure included the release of a prlor year éccrual of £8,039 50 excludlng thi*, the undorlYiThg incrÈèsè comwdred to 202 3 ¥va5 £22.021. This included ex￿￿￿1¢￿r￿ on rests>ratlon of St Francls chapel and hall ot £12,814. These results and the disposal of 6 High Park Roèd brought totsl f und$ to £1,014,28912023: £215,411), Includln8 Investmenlg and ca5fv of £I,co),288 {2023.. £201557). Thè PCC has reserved £3CIO.OJO for the Heritage Project and É500.IX¥) towardi the purchase of accommodation for a curate, Investfflents The Invesim@nt of u nr*trict@d fund£ arè hL4ld th• C•fitral BcArd of Firtart¢• Church ￿ Ert8l*nd F￿￿￿$ •nd COIP Chi tity Fund5 and Charle5 5ranley èn¢Y stopd It £954.803 at 31 December 20241202 3: 189.292) FARNHAM PAROCHIAL CHURCH COUNCIL COUNCIL MEMBERS. REPORT l£ontiThuedJ YEAR ENDED 310ECEMBER 20Z4 Reserves Pollry It 15 the poliry of the PCC to malntain unrestrlcted funds, which are the free reserves, at a lèvel which equates to at least between five and nine month5, unrestrfcted exp@nd Iture. This provides suff icient fund£ to cover ongoing eharita blè éxpenditu re, iniludin8 the Par5sh Sha re paya ble to Ihe Di(Kese. At 31 December 2024 unrestricted funds amounted to £995,721 (1023; £198,280) of which £SOCs,01)O is de5isnated for clergv housing and £3CQ,OCQ for the Con5er¥atlon and Development fund. Thi5 leaves £195.721 which which approximat￿ to 10-11 rnonth5 of nrestn'cted Èxpenditure. Risks The major r'15ks to which the PCC is exposed, as identified by the PCC member5, have been reviewed and systerns have been implemented to m itlg3te those ri5k5. Strurture, Govemance & Mana8tment Th• l•Bal status of the charlty Is set out èbovi. Members of the Parothial Church Council are elected every year at the Annual ParochSal Church Meetin81"APCM"}. PCC members a￿ elected every year for a period of one year and can be re-elected up to a maxirnum term of slx years. A new member must be proposed and seconded to be able to s•rve on the Council. Members are replaced a5 they retlre. Ex-off Iclo members of the PCC IThC￿ude deanery and dloGesan synod members, churchwardens. IIc8ns@d lay rninister4 and tlèrgv. Thè financial reportln8 framework which has been applied in the preparaiion of the financial statem@nts is applit3blo law 2nd tho Stat•m•nt èf Recomme nded Practlce a pplicable to cha rities prepa rin8 the Ir ac¢ou nts in accordance with the Flna nclal Rèporting Standard applicable I n the United Kin8dom and Republk of Ireland (FRS 102) (effettlve l January 2015) (United Kingdom Generally Actepted Accounting Practlce.> RefereThce and Admlnlstratlve Detalls. These are set out on pages I to 2. Counell Mèmbérs, Re¥￿nSIbIlItIeS The Council Members are required to prepare for each financial y•ar, fln•n£ial statement5 wh5ch ¥lve a true and fair view of the state of affairs of the PCC •nd the results for the periDd. In preparlng the f Inancial staternent5 the Council Members are required to,, Selert surtable accounting policies and 3pply them conslstgntlv; Make judgments and estimates that a￿ reasonable and prudent: - State whether applicable accounting standards have been followed. subject to any material departures disclosed and explained In the financial 5tatement5,' and Prepare the financkal statements on the 8oin8 concern basis u nless It Is inapproprlate to presume this basls applies. The Council Members are responsible for ensurSn8 that proper accounting records are kept which dlsclose, with reasonable accuracy at any time, the flnancial posltion of the PCC. They are a15a re5pon5ible for safegua rd in8 th e 555et5 of the PCC and hence for taking reasonable stèps to prevent and detect fraud and other irre8ularlties. Approved by order of the Parochial Church Council on 14 Aprll 2025 and signed on its behalf by: M. D. Uffindell IChairmanTr M Eborhardt (Churchwarden) FARNHAM PAROCHIAL CHURCH COUNCIL ,INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31 DECEMBER 2024 INDEPENDENT EXAMINER'5 REPORT TO THE PAROCHIAL CHURCH COUNCIL OF FARNHAM 11 I report to the Council Members { Trustees ) on rny examination of the accounts of Farnham Parochlal Church CouncEI ("the Charity") for the year ended 31 December 2022, which are set out on pages 51X to fourteen. Responslbillties and basis of report As Trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie5 Act 2011 ( the Act"). I report in respect of my examination of the Trustees, accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions 8iven by the Charity CommSsslon under section 145 (5) (b) of the 2011 Act. Independent Examlner's Statement I have completed my examination. I confirm that no materi31 matters have come to my attention in connection with the examinatlon giving me cause to believe that in any material respect: (l) accounttnB record5 were not kept In respect of the Charity as required by section 130 of the Act. or {2) the accounts do not accord with those record5; or (3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Re8ulation5 2008 other than any requirement that the accounts give a "true and fair view" which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection wtth the examination to which attention should be drawn in th*5 report in order to enable a proper understanding of the account5 to be reached. Independent Examiner Jason Foxwell independent-examiner.net P O Box 9846 Poole Dorset. BH15 9JZ Date: 23 April 2025 FARNHAM PAROCHIAL CHURCH COUNCIL STATEMENTOF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 31.12.24 Total Funds 31.12.23 Total Unrestricted Funds Restricted Funds Funds Notes INCOME FROM Donations and legacie5 Charitable Activities Investment Income 185,676 8,787 4,571 1,105 186,781 8,787 4.571 132,461 31,093 5.414 Totsl 199,034 1,105 200,138 168,968 EXPENDITURE ON Charltable Activities: Direct Charita ble Activitie5 Administratton expenses 215,534 13,409 215,534 13,409 186,306 12,577 Tot31 228,943 228,943 198,883 Net gains/(1055e5) on Investments 12 2,933 16 2,949 8,240 NET INCOME/ (EXPENDITURE) {26,976} 1,121 (25,856) (21,6751 Net gain on sale of property 11 824,733 824,733 Arnalgarnation of Friends of St Andrews 16,551 Net movement In Funds 797,757 1,121 798,877 {5,124) RECONCILIATION OF FUNDS Total fundi brought forward at 01.01.24 197,980 17,431 215,411 220,535 TOTAL FUNDS CARRIED FORWARD at 31.12.23 15 995,737 18,552 1,014,288 215,411 FARNfrtAM PAROCHIAL CHURCH COUNCIL BALANCE SHEET 31 DECEMBER 2024 31.12.24 31.12.23 Total Unrestricted Restricted Funds Funds Tot31 Fundg Notes FIXED ASSETS Tangible fixed assets Investments 11 12 14,352 167,533 125,431 18,552 143.983 125,431 18,552 143,983 181,885 CURRENT ASSETS Debtors Cash at bank 13 13,903 865,305 13,903 865,305 7,815 34,024 879,208 879,208 41,839 CREDITORS Arnounts falling due within one y£ 14 8,901 8,901 8,313 NET CURRENT ASSETS 870,306 870,306 33,526 TOTAL ASSETS LESS CURRENT LIABILITIES 995,737 18,552 1,014,289 215,411 NET Assrrs 995,737 18.552 1,014,289 215,411 FUNDS Unrestrlcted funds Restritted funds 15 995,737 18,552 197,980 17,431 15 TOTAL FUNDS 1,014,289 215,411 The financial statemènts were approved by the Paroehial Church Council on 14 April 2025 and were $18ned on its behalf by: H. D. Ufflndell {Rertorl M Eberhardt {Ch chwardenl FARNHAM PAROCHIAL CHURC+1 COUNCIL NOTES TO THE FINANCIAL STATEMENTS YEAR ENOED 31 DECEMBER 2024 I. ACCOUNTING POLICIES Basls of p￿paring the financial Statements. The financial statemènts of the charity, whSch Is 3 public benefit ethtity under FRS 102, have beèn preparèd in accorda nce with the Charities SORP (FRS 102) ' Accounting and Reporting by Charities: Statement of Recommended Pract¢co applicable to charities prèparing thetr aceounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republlc of Ireland IFAS 102) {effective l January 2015),. FRS 102 "The Flnanclal Reportln8 Standard apptscable in the UK and Repubtlc of Ireland" the Charities Act 2011 and the Church Accounting Re8ulatlons 2006. The financial statement5 have been prepared under the hlstorical cost convention except for the valuatlon of investment asset5, which are shown at market value. The financial statement5 include all transattions, assets and liabilities for whSch the PCC 15 responsible in law. They do not include the accounts of church groups that owe their maln affillatlon to another body nor those that are informal gatherings of church members. Incoming resources a) Collections are included in the financial statements when received by or on behalf of the PCC. b) P12nned giving rece+vable under Gift Aid is included in the fsnancial statements when received by the PCC. e) Income tax recoverable on Gift Aided income is Inctuded in the flnanclal statements when the income 15 receiv361e. d) Legacy income Is accounted for when receivable. e) Grant income is accounted for when receivable. Resources Expended Expenditure is accounted for on an accruals bast5 and has been classified under headings that aggregate all costs related to the category. Where c05ts cannot be directly attributed to particular headin85 they have been allocated to activities on a basls consistent with the use of resources. Grants and donations are accounted for when paid over or when awarded, if that award creates a bindin8 or a constructive obligation on the PCC. Tatt4ible Fixed Assets Consecrated and benefice property Is excluded from the accounts by S. 10 (2) (a) of the Charities Att 2011. Depreciation is provided at the followin8 annual rate5 in order to write off each asset over its estimated useful l¢fe. Freehold property Computer Equiprnent Fixtures and fittings 2% on a strai8ht line b3sIs 33.3% on a straight line ba515 33,3% on a straight line basis Investments Investments are valued 3t thoir clooind mtd-m2rk@t valuè at the Balance gheet date. Any Éains or lasse2 on revalu3tion are taken to the Statement of Financial Attivities. Taxatlon The PCC is exempt from tax OTh its charitable activities. Fund Accounting Unrestricted funds represent the funds of the PCC that are not subject ro any restrictions governing their use and are available for appllcatlon on the general purposes of the PCC. These include funds designated for a particular purpose by the PCC. Restricted funds represent either income from trusts or endowments which may be expended only on those restricted obJ@tts provided in the terms of th@ trust or bequests or donatrong or gr2ntg received far a speeifie object or invited by the PCC for 3 specific object. These funds may only be expended on the specific object for which they were Eiven. Further explanation of the nature and purpose of each fund Is Included In the notes to the ftn3nclal statements. FARNHAM PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER Z024 Unrestrlcted Fund5 31.12.24 Restrlcted Funds 31.12.24 Total Fund5 31.12.23 2. DONATIONS AND LEGACIES Total Funds 31,12.24 Oonations: givtng by standine order Donations., Di8itBJl Réc•ipts D¢nations and appeals Sundry incorne and donation5 Collections at service5 Income tax recoverable via Gift Aid Sound and vislon and 5t Andrews building Le8acies 63,549 6,009 30.016 2,746 5,654 24,692 27,009 20,000 63,549 6,009 37,121 2,746 5,654 24,692 27,009 20.OCK) 56,205 7,200 21,573 3,738 5,259 17,855 20,632 1105 185,676 1,105 186,781 132,462 3. INCOME FROM CHARITABLE AcfiviTIES 31.12.24 31.12.24 31.12.24 31.12.23 Funeral and weddin8 fee5 recelved Church lettlngs and rent of property 4,187 4,600 4,187 4,600 7,215 23,878 8,787 8,787 31,093 4. INVESTMENT INCOME 31.12.24 31.12.24 31.12.24 31.12.23 Deposit accoL*nt interest and divldend income 4,571 4,571 5,414 5. EXPENDITURE ON DIREcf CHARITABLE ArfiviTIES 31.12.24 31.12,24 31.12,24 31.12.23 Ministry costs: Parish Share Ministry costs: other Ch ildren & youth expenses including cost of Children's Worker St Andrews Gas and elertricity St. Andrew'5 Church repairs St. Andrew's Tower project 5t. Francis's Church runnsn8 expenses and repairs St Francis Project expenijiture Parish Office runnin8 expenses and repairs Mlsslon and outreach {see note 6) Lay salaries and fees Insurance Rectory running expenses and repairs High Park Road management fee and expéngeg 91,065 7,99L 2,740 7,595 25,641 17,456 6,652 12,814 1,389 91,065 7,991 2,740 7,595 25,641 17,456 6,652 12,814 1,389 88,415 5,907 3,229 35,293 12,133 2,199 720 (8,039) 34,359 7,159 731 4,200 34,022 7,466 703 34,022 7,466 703 215,534 215,534 186,306 FARNHAM PAROCHIAL CHURCH COUNCIL NOTES TO THÉ FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 6.MI5510N AND OUThEACH 31.12,24 31.12,23 Providéd 2012 rèv@rgod JO23 8,038 7. ADMINISTRATION EXPENSES 31.12.24 31.12.23 Parish office expenses Profe55 ional fees Qther expense5 7.046 650 5,?14 6.208 625 5,744 13,409 12,577 8.NEf MOVEMENT IN FUNDS Net movetnent in funds Is stated after charging: 31.12,24 31.12.23 Independent Examiner's fee Depreciation- owned assets 650 460 625 624 9. PCC MEMBERS, REMUNERATION AND EXPENSES There were no PCC members, rernuneration or other benefits for the year ended 31 Dècembèr 2024 (2023: £nil.J David Uffindell, a rnember of the PCC, was reimbursed expenses of £2.544 for the year ended 310ecember 2024 (2023 £1,865) 10 FARNHAM PAROCHIAL CHURCH COUNCIL NOTESTO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 10. STAFF COST5 31.12.24 31.12,23 Wage and salarles Pension costs 34,022 581 34,359 581 34,603 34,940 The average monthly number of employees during the ye2r was as follows: Adrn inistration The equivalent number of full-time employees is l (2023: 1). No employee received remuneration above £60,000 per annum in either 2024 or 2023. 11. TANGIBLE FIXED ASSETS Freehold Property Fixtures & Fittings Computer Equipment Total COST At L January 2024 Additions Disposal At 31 Decernber 2024 31,200 24,260 1,587 57,047 31,200 31,200 25,847 24,260 1,587 DEPRECIATION At l January 2024 Charge for year Disposal At 31 December 2024 16,848 460 17,308 24,260 1,587 42,695 460 17,308 25.847 24,260 1,587 NET BOOK VALUE At 31 Dècernber 2024 At l January 2024 14,352 14,352 The freehold property comprised one clergy house situated within the parish at 6 High Park Road, It was sold during the year for 866,550 Less 8ook value Costs of and during process of sale 14,892 26,925 41,817 824,733 Prof it 11 FARNHAM PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 12. INVESTMENTS 2024 Z023 Markèt valuè At l January 2024 Disposals at carrying value Realised loss on sale of investmerlts Loss IGain} on revaluation of assets At 31 December 2024 167,533 (26,500} 2,949 189,392 (30,000) (2,946) 11,087 167,533 143,983 Hlstorlcal Cost 135,000 135,000 Unrestricted investments are held in the CBF Church of England Investment Fund. the CBF Church of En8land Fixed Interest Securities Fund, the COIF Charities Investment Fund and ¢nve5tment held with Charle5 Stanley a5 invested in 2019. Analysis of net Investment lain5 and losses Realised loss on sale of inv@gtments Unrealis@d (profit) loss on revaluation of a55ets Net investment gains and losses on investments 2846 -11,086 -8,240 2,949 2,949 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accounts ReceSvable Gift Aid recoverable Other debtors Prepayments VAT recoverable 1,049 2,793 9,710 300 51 642 3,667 2.679 84 743 13,903 7,815 14. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income Tax and social security Other creditor5 Income Received in Advance 1,740 1,475 5,338 349 8,901 3,344 1,652 2,808 509 8,313 12 FARtIFIAM PAROCHIAL CHURCH COUNCIL 14OTES Ta TrIE FINANCIAL STATEMEI4TS YEAR ENDED ai OECEMBER 2024 15. MOVEMENT IN FLIND5 Incoming Re50urce5 Resources Expended Nei qainl11055) on investments Transfers between fund5 At 1.1.24 At 31,12.24 UnreJtritted funds IrKludlni d•sl8natsd funds General fund Conservation & Developmertt Dèsignated Fund M ini5try costs Cf F Minister D@sign3ted Fund St Francbs renovation fund Curate's H uu5in8 Reserve 22.728 96,192 79.060 1.011,883 12 16,129) -702,099 202.099 116,383 31XI.OOQ 80.284 ¢930) 500,CC 1,709 1,224 11,884 12,814 Llnrestrkted Funds Totsl R¢#rlrted Funds Sundry Specific Don*tions A•strkt•d Fund FrFend s of St Andrews 197,980 197,980 286 1.023.767 1,023,467 228,943> (228,9431 2,933 2,933 16 995,737 995,437 302 18,250 17,145 1.105 Restrirted Funds Totsi 17,431 1,105 16 18,S52 TOTAL FUNDS 215,411 1,024,872 (228,943) 2,949, 1,014,289 CMMrvation & Developrhèrtt Deskn•ted Fund The Conservation and Develapment F und w45 established to pay for work associated with essential repairs to the r(iof and tower and lor improvements and additSons to the interior of St And rèw's Church. The PCC resolved to estsblish a reserve of £300,1x￿ for the HerltA8e Projea. Mlnistry Costs CfF Mlnlster Deiiyatsd Fund Thése monies have been de516nated 10 f und mlnlstry Costs includin8 the salary a nd penslon costs for a ChiklreTr, Yout h and family ICYF) min45tef. Curate'j HoLtrsln8 ReJer& The PCC ha5 de518nated £500,(KWJ of the proceeds of the sale of 6 High Park Rd for thè purchase of a curate's accommodation Sundry Sgedfic Donations fvnd This was created to record donations in ￿$pert of specific projects or items, and the corre5pondin8 expenditure as a perrnangnt endownmart. Frlends ol Si Andrews This fund is to maints Sn, repal r, restore, preserve, 4mprove, beautify ar￿ re¢oDsirvct for the benefit of the pvblic, the fabric of the church of St Andrevls Farnham, its mon uments, flxturos, flttings, furniture. Stsined 8lass, orThamehts an d other thattels in its churchyard. 16. eoNTIPIGENeiES AND COMMITMtPdTS St. Andrew's Church Wrth the responsibi lity to malntain a gra de I listed buildfn8, there are ongoing maintenance issues but the mtsst significant a ré as sét out below. The PCC 15 in the i nitial sta8es of carrying out a Heritage Project Involving repairs to the tower arkd the improvement of access and facilities. An eKpre551orh of Interest was submitted tD the National Herlta8e Lottery Fund ('NHLF ) on 261h February which was approved on 21 March 2025. The expression of interest proJKted the total costs to be apprexl mately £2.9million of wh kh £2.5million is bei n8 seu8ht from the NHLF. The balance k5 expected to be funded by other fundra15ings by the PCC and from the de518nated reserve 'Conservation & Development De5i8nated Fund" of £300,C4J) as set out in note 15, The last QuSnquEnnial ￿pOrt was carried out In May 2022 and the￿ are no matter5 arlsin8 whlch ère consldered materlal to these accounts. 17. RELATED PARfi TRANSACTIONS There were no related party transactions durin8 either the year ended 31 December 2024 or the yedi ended 31 December 2024. 13 FARNHAM PAROCHIAL CHURCH COUNCIL STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 18. 2023 RESULTS FOR COMPARATIVE PURPOSES 31 December 2023 Restricted Total Funds Funds Unrestrlcted Funds INCOME FROM Donations and legacies Charitable Activities Investment Income 130,748 31,093 5,414 1,713 132,461 31,093 5,414 Total 167,255 1,713 168,968 EXPENDITURE ON Charltable Actlvltles: Direct Charitable Activities Administration expenses 185,187 12,577 1,119 186,306 12,577 Total 197,764 1,119 198,883 Net gainsl(losses) on investments 8,216 24 8,240 NET INCOMEI (EXPENDITURE) {22,293) 618 (21.675) RECONCILIATION OF FUNDS Total funds brought forward at 1.1.23 220,273 16,813 237,086 TOTAL FUNDS CARRIED FORWARD at 31.12,23 197,980 17,431 215,411 14