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2025-12-31-accounts

St Margaret’s Church, Chipstead Parish

Annual Report and Accounts

RECEIPTS AND PAYMENTS BASIS PENDING INFORMATION

The Parochial Church Council of the Ecclesiastical Parish Church of St Margaret’s Church Chipstead

for the year ended 31 December 2025

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Registered Charity No: 1139738 Church Lane, Chipstead, Surrey CR5 3RD Tel. no: 01737 552160 www.stmargaretschipstead.org

Financial Statements and Annual Report for the year ended 31 December 2025

Contents Page
Annual Report of the Parochial Church Council 1-8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12-18

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St Margaret’s Church, Chipstead Parish ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025

The Annual Report of the Parochial Church Council will be read to the Annual Parochial Church Meeting, and copies will be available from the church office

Introduction

St Margaret’s Church Parochial Church Council (PCC) is required, as stated in the Parochial Church Councils (Powers) Measure 1956, to cooperate with the minister in promoting in the ecclesiastical parish the whole mission of the Church – pastoral, evangelistic, social and ecumenical.

During the year the following served as members of the PCC:

Officers:

Chair:

Reverend Hannah Gordon

Churchwardens:

Jennifer Smith Tom Sanderson

Secretary: Eamonn Davern

PCC Members

Jon Hill Ray King Jill Lindsay Rosalind Lunberg Lorna Madeleine MacCallum Nigel Smith Julia Thompson Lucy Wales Katherine Wicksteed Janice Whittle

Key Management Personnel

The Chair and the Churchwardens are management personnel. None of the key management received any remuneration.

Details of the expenses of all members of the PCC (including Key Management Personnel) are shown in note 8 to the financial statements.

Correspondence Address:

The Parish Office Church Lane Chipstead, Surrey CR5 3RD

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St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025 (continued)

Bankers

Natwest Wallington Branch 27 Woodcote Road Wallington Surrey SM6 0LN

Independent Examiners: Stewardship

2 -

St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025

Our Aims and Purposes as a Charity

Purpose

St Margaret’s exists so that everyone knows they are loved by God. We are a community of shelter and safety for all people, recognising that every person is created perfectly in the image of God. Our calling is to live out the radical love of Jesus at every stage of life and faith.

Values

Our work and life together are guided by the following values:

Vision

By 2031, everyone at St Margaret’s, at every stage of life, will know that they belong and be able to express how and why they are an integral part of the community.

Strategy

To realise this vision we will:

Action Planning

The Purpose, Values and Vision were formally launched at the end of 2025. Action-planning sessions were held in January 2026 to begin developing a detailed implementation plan.

Achievements and Performance

Developing Purpose, Values and Vision

During 2025 the church focused on developing its Purpose, Values and Vision. This process began in February with an away day at Wychcroft attended by approximately 40 adults and six young people. The day provided an opportunity to reflect on the kind of community St Margaret’s seeks to be and the nature of the disciples we hope to nurture. Worship and prayer framed the day.

Participants engaged in a facilitated Lego Serious Play exercise to explore ideas for the future of the church. Working in small groups, participants used Lego models to express their

3 -

St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025

perspectives and aspirations for St Margaret’s. These individual ideas were developed into shared group models representing the character and priorities of the church community. Each group recorded reflections and presented their model and conclusions to the wider gathering.

Following the event, the Rector worked with a professional facilitator to analyse the material gathered, together with further reflection, experience and prayer. This process resulted in a draft statement of Purpose, Values and Vision for St Margaret’s. The draft was reviewed by a representative group of around ten individuals from across the congregation before being finalised.

The final version was launched in autumn 2025 and explored through a seven-week sermon series that examined each element in detail and connected it with biblical teaching. The resulting framework is grounded in consultation, prayer and scripture. Implementing the vision through practical action will be a key focus for the coming year.

Faith Outside the Pews Project

Another significant initiative during the year was the Faith Outside the Pews project, which culminated in a weekend of activities during midsummer.

Around twenty volunteers gathered at Welcare Redhill on the Saturday afternoon to plant, paint and prepare the outdoor space for community use. In total, 41 members of the church family participated in the project, ranging in age from four years old to members in their eighties. Eleven young people contributed their time and skills in a variety of ways.

The outdoor area at Welcare was transformed from a tired space into one that is colourful, welcoming and hopeful. The Manager at Welcare joined the church community that evening and shared how she had seen God at work through the generosity and service of St Margaret’s volunteers.

The evening continued with a bring-and-share supper attended by more than 70 people. The warm weather allowed full use of the Orchard’s outdoor space, providing a valuable opportunity for fellowship and community building. As the sun set, the congregation gathered around a campfire for worship and scripture before concluding the evening with the ancient monastic office of Compline in the chancel by candlelight.

On Sunday the church held three services: a Book of Common Prayer Eucharist, an informal service, and Messy Church. The weekend provided an opportunity for worship, service and fellowship while supporting one of the church’s mission partners.

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St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025

Other Activities and Events

Other notable developments during the year included:

Partnership with St Peter’s Woodmansterne

The church continues to strengthen its relationship with the neighbouring parish of St Peter’s Woodmansterne. Joint activities have included shared services at the beginning and end of Lent, coordinated communication around major festivals, and the launch in September 2025 of a joint half-termly Messy Church held at the PA Hall. Attendance at this initiative has more than tripled.

Ongoing Community Activities

Several regular activities continue to flourish, including:

Staff and volunteers

During the year the PCC employed two staff: a full-time Administrator and Finance Assistant and a part-time Youth and Community Worker. In addition, the PCC is grateful for the Music coordinator, and the commitment of volunteers who support the life and ministry of the church. During 2025 it is estimated that volunteers contributed approximately 1,590 hours (2024: 1,590 hours) across a wide range of church activities and services.

Church Data

The introduction of ChurchSuite during 2025 has improved the accuracy of data collection and improved data handling and communication.

During 2025 the five-yearly revision of the electoral roll was also completed, ensuring that membership data is current and accurate. The roll stands at 130 in 2025 compared to 128 in 2024

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St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025

Outputs, outcomes and impact

Outputs

Regular activities of the church include:

The PA Hall continues to serve the wider community through private hire and regular use by local organisations including the Women’s Institute, Rainbows, Brownies, an art group, Pilates and dance classes.

Outcomes

During 2025 the church conducted:

Average weekly attendance (based on October 2025) was 74 adults and 10 children under 16.

Attendance has remained stable, with new members joining from a range of backgrounds and integrating well into the church community. Three individuals either began or completed the Bishop’s Certificate course Growing in Faith and Life .

Impact

This is the Rector’s third year as Incumbent, and the launch of the church’s Purpose, Values and Vision marks an important stage in the ongoing development of St Margaret’s.

The process has intentionally been undertaken gradually and thoughtfully to ensure that it represents a genuine re-missioning of the church rather than simply a new strategic statement. The engagement of the congregation in shaping this vision has already strengthened a shared sense of direction and identity.

The vision – that everyone connected with St Margaret’s knows they belong and understands their place within the community goes well beyond numerical indicators. As a church, the aim is not simply organisational growth but the development of a faithful community in which people encounter God, deepen their discipleship, and serve others. St Margaret’s has made evident progress in this journey during 2025, for which we give thanks to God

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St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025

2025 Financial Review

Basis of preparation

The financial statements are presented to PCC 24 March 2024 on a Receipts and Payments basis pending completion of all entries to the Paxton book-keeping system up to 31 December 2025, and pending receipt of information regarding certain transactions during the year. When these matters are settled, the accounts will be prepared under an Accruals basis. The difference between the results on a Receipts and Payments basis and an Accruals basis is generally not material except for the following matters:

  1. When the Accruals basis is used an accrual will be made for £100,000 return of donation. This will be recorded as an Exceptional Item and will increase both the payables and the deficit for the year by £100,000

  2. When the Accruals basis is used the new Sound System will be recorded at £49,771 which includes a deposit of £21,121 paid during year end 31 December in 2024 and included in receivables at the previous year end. The new Sound System is currently shown as £28,650 which is the amount paid during 2025. This adjustment will increase the deficit for the year by £21,121

  3. The Legacy income is currently recorded as £8,891 which is the sum received during the year. When the Accruals basis is used the legacy will be recorded as £1,891 after removing £7,000 that was treated as a receivable at the previous year end. This adjustment will increase the deficit for the year by £7,000.

  4. Gift Aid is currently recorded as £20,275. When the Accruals basis is used this will increase to £24,841. The increase of £4,566 represents the Gift Aid reclaimed in relation to the last two months of 2025 and received in 2026. The £4,566 will be reduce the deficit for the year and will be shown as a receivable. An amount of £22,098 was received in 2025 relating to 2024. This has been shown as a deduction from reserves.

In summary the restatement of the results for the year on an Accruals basis will increase the deficit by £123,555 (£100,000 + £21,121 + £7,000 - £4,566 transition to accrual account). There maybe other impacts but these are not expected to materially affect the deficit.

The analysis of expenditure contained an error in 2024. The general and secretarial category was understated by £8,447 and the Youth and children overstated by the same amount. This has been corrected in the comparative figures to £47,322 and £30,270 respectively

There may be an additional statement concerning the financial review when the information regarding certain transactions referred to above is received.

Potential additional content:

7

St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025

Statement of PCC responsibilities

The Parochial Church Council (PCC) is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Church Accounting Regulations 2006 require the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Council and of its financial activities for that period. In preparing those financial statements, the PCC is required to:

The PCC is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Council and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Potential additional content

During the year the PCC has updated and approved the following policies designed to strengthen internal controls at the Church. Training Support Policy Expense Policy Fees Policy Premises and Procurement Policy Financial Safeguarding Framework

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St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025

Risk assessment

The PCC is satisfied that there are procedures in place to mitigate exposure to major risks. The PCC considers the principal risks and uncertainties facing the Church and their plans and strategies for managing these risks to be:

Potential Risk Potential Impact Steps to mitigate risk
Security of assets • loss or damage
• theft of assets		 • review security arrangements
• asset register and inspection programme
•review insurance cover
Fund-raising • unsatisfactory returns
• reputational risks of
campaign or methods used
• actions of agents and
commercial fund-raisers
• compliance with law and
regulation		 • implement appraisal, budgeting and
authorisation procedures
• review regulatory compliance
• monitor the adequacy of financial returns
achieved
• stewardship reporting in annual report
Disaster recovery
and planning		 • computer system failures or
loss of data
• destruction of property,
equipment, records through
fire, flood or similar damage		 • agree IT recovery plan
• implement data backup procedures and
security measures
• review insurance cover
•create disaster recovery plan
Cash flow
sensitivities		 • inability to meet
commitments
• lack of liquidity to cover
variance in costs
• impact on operational
activities		 • ensure adequate cash flow projections
(prudence of assumptions)
• identify major sensitivities
• ensure adequate information flow from
operational managers
•monitor arrangements and reporting

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St Margaret’s Church, Chipstead Parish

ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2025 (continued)

Reserves policy

The PCC needs reserves to cover short term shortfalls in income and to cover unexpected expenditure. The vast majority of the PCC's income derives from voluntary donations. Whilst a significant proportion of these donations are planned, there is a level of unplanned giving which is not always predictable. In addition, due to changes in circumstances within the congregation, planned giving may not always match the level pledged at the start of the year. Reserves allow the PCC to better manage short term fluctuations in the level of giving. In addition, the running costs of the church are not always predictable, and reserves allow the PCC to cope with unexpected expenditure which may arise from time to time. It is PCC policy to try to maintain a balance on free reserves which equates to at least three months of unrestricted payments, which would equate to £xx. At the end of 2025 unrestricted reserves were £xxx.

Fundraising

The PCC engaged in fundraising, in the form of receiving donations, some of which were giftaided, from members of our fellowship. The PCC did not contract the service of any professional fundraisers as defined by section 58 of the Charities Act 1992. The PCC is satisfied that its fundraising practices are ethical. No complaints were received about our fundraising practices.

Investment policy

The PCC is risk averse in its investment policy placing surplus cash on deposit with the CBF Church of England Deposit Fund or with large banks.

Chair Date 24 March 2026

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St Margaret’s Church, Chipstead Parish

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL

I report to the charity trustees on my examination of the accounts of the St Margaret’s Parochial Church Council (the Church) for the year ended 31 December 2024 set out on pages 10 to 21.

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 as carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Church as required by section 130 of the Act; or

  2. the accounts do not accord with those records; 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 Report) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Name & Qualification Date:

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St Margaret’s Church, Chipstead Parish

Statement of Financial Activities for the year ended 31 December 2025

2025 R&P Basis 2025 R&P Basis 2025 R&P Basis 2025 R&P Basis 2024 Accruals basis 2024 Accruals basis 2024 Accruals basis
Unrestricted Restricted Endowment TOTAL Unrestricted Restricted Endowment TOTAL
Funds Funds Funds 2025 Funds Funds Funds 2024
Notes 2(a) 2(b) 10 2(a) 2(b) 10
INCOME £ £ £ £ £ £ £ £
Voluntary income [2a] 152,449
772
-
153,221		 149,690
1,339
-
151,029
Income from church
activities		 10,758
-
-
10,758		 16,180
-
-
16,180
Activities for
generating funds		 555
19,202
-
19,757		 1,619
25,288
-
26,907
Income from
investments		 13,894
-
-
13,894		 17,399
-
-
17,399
Total Income 177,656
19,974
-
197,630		 184,888
26,627
-
211,515
EXPENDITURE
Church activities 291,181
14,478
-
305,659		 268,458
21,318
-
289,776
Raising funds - - 100
305
-
405
-
Total Expenditure 291,181
14,478
-
305,659		 268,558
21,623
-
290,181
Excess (deficit) of
income over
expenditure		 (113,525)
5,496
-
(108,029)		 (83,670)
5,004
-
(78,666)
Net gains/(losses) on
investments		 (6,572)
-
-
(6,572)		 27,346
-
-
27,346
Net
Income/(Expenditure)		 (120,097)
5,496
-
(114,601)		 (56,324)
5,004
-
(51,320)
Exceptional item * -
Extraordinary item ** -
Total funds brought
forward		 770,582
100,410
132,278		 1,003,270 826,906
95,406
132,278
1,054,590
Total funds carried
forward		 650,485
105,906
132,278
888,669		 770,582
100,410
132,278
1,003,270

1

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St Margaret’s Church, Chipstead Parish Balance sheet as 31 December 2025

Notes 2025
R&P Basis		 2024
Accruals Basis
£ £
FIXED ASSETS
Tangible assets 3 651 651
Investments 556,449 563,021
Total fixed assets 557,100 563,672
CURRENT ASSETS
Receivables 5 * 62,428 62,428
Cash at bank and in hand 317,138
379,566
398,178
460,606
TOTAL ASSETS 936,666 1,024,278
LIABILITIES:
Payables: amounts falling due within one
year		 6 * (21,008) (21,008)
NET ASSETS 915,658 1,003,270
PARISH FUNDS
2024 Gift aid received 2025 not in SOFA 22,098
Unrestricted 7 650,485 770,582
Restricted 7 105,906 100,410
Endowment 7 132,278 132,278
Total funds 910,767 1,003,270
Diff 2025 caused by unmatched contras (920)
Difference from 2024 [1,519+1182+3,110] 5,811
915,658 1,003,270

The financial statements were approved by the PCC on 24 March 2026 and signed on behalf of the PCC by:

Chair

13

St Margaret’s Church, Chipstead Parish

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

1. ACCOUNTING POLICIES

The principal accounting policies adopted in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements for the year ending 2025 are currently prepared on a Receipts and Payments basis. The accounts will be restated on an Accruals basis when required information becomes available.

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements have been prepared under the historical cost convention. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members. The financial statements are prepared in sterling, which is the functional currency of the PCC. Monetary amounts in these financial statements are rounded to the nearest £.

The PCC meets the definition of a public benefit entity under FRS102.

Going concern

The PCC have prepared detailed forecasts which they believe are based upon reasonable assumptions. The forecasts show that the church should be able to operate for the foreseeable future and thus the trustees consider it appropriate to prepare the financial statements on a going concern basis.

FUNDS

  1. Unrestricted Funds represent the resources of the PCC that are not subject to any restrictions regarding their use and are available for the general purposes of the PCC.

  2. Restricted Funds represent resources which the PCC has indicated to donors and fundraisers will be used for specified purposes:

  3. The Fabric Fund mainly derives from major donations and special events to meet major expenses on repairs and renewals of the Church and the Churchyard.

The Bell Fund contains specific donations and surpluses from the use of bells at weddings set aside to meet future maintenance of and improvements to the bells and to meet bell ringer expenses.

The Peter Aubertin Hall Fund consists of income from operating activities of the Hall, specific fundraising events and donations for the improvement of the Hall. The Mugswell Hall Fund consists of income from the operating activities of the Hall and specific donations for the maintenance and improvement of the Hall

The Appeal Fund contains donations made and the proceeds of special events undertaken for the purposes of funding the construction of The Orchard. Specific Donations consist of donations received at services and other Parish occasions for purposes specified at the time of collection.

Trust Funds consist of donations made specifically for the upkeep of certain graves.

14 -

St Margaret’s Church, Chipstead Parish

Income recognition

All income is recognised once the Church has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Voluntary Income

Expenditure

All expenditure is accounted for on an Accruals basis. Currently R&P BASIS 2025

Fixed Assets

Consecrated Property and Movable Church Furnishings

Other church buildings

15 -

St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31 December 2025 (continued) 1. ACCOUNTING POLICIES (continued)

Depreciation is provided to write off the cost of fixed assets over their useful lives. Furniture, fittings & equipment are depreciated on a straight-line basis over 3 - 5 years.

Investments

These represent equity holdings in the CBF Church of England Investment Fund managed by CCLA investment Management Limited. Investments and are valued at market value at the end of the year.

Current assets

Income tax recoverable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid. Cash at bank and in hand includes cash deposits with a short maturity date.

Payables and accruals

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

2 Income and Expenditure

The PCC has chosen to show income and expenditure on a fund-by-fund basis for both the historic and current periods. This gives greater clarity rather than the amalgamated basis for the historic period which is outlined in the PCC Accountability Manual (published 2006 and updated to incorporate SORP 2015).

16 -

St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31 December 2025 (continued)

Note 2a Unrestricted general church funds 2025
R&P Basis		 2024
Accruals Basis
INCOME £ £
Voluntary income
Planned Giving 116,522
114,222
Collections (plate) at services 3,034
1,998
Income tax recoverable: Gift Aid. +22,098 shown in reserves 20,275
23,400
VAT refund on listed building/ Grants received 675
25
Donations 3,052
5,045
Legacies [£7,000 of this was a receivable in 2024) 8,891
5,000
152,449
149,690
Income From Church Activities:
Wedding, Baptism and Funeral fees 10,646
16,180
Fees for record search certification services 112
10,758
16,180
Activities for generating funds
Fetes and other fundraising events 510
1,139
Orchard hire 45
480
555
1,619
Interest income 13,894
17,399
TOTAL INCOME 177,656
184,888
Note 2a Unrestricted general church funds (Continued) 2025 2024
EXPENDITURE
Church Activities
Parish Share 103,500
100,000
Clergy expenses tbc
945
Church building maintenance 3,611
20,360
Churchyard maintenance 3,406
2,198
Youth, children, music, hospitality [2024 error s/b: (8,447)] 36,645
*30,270
Church running expenses (Hospitality £4,549 (2024 £3,466) 46,220
48,488
General & secretarial expenses [2024 error s/b: +8,447] 49,821
*47,322
Printing and stationery 2,360
4,615
Depreciation -
651
New sound system [total spend is + 21,121 in debtors 2024] 28,650
-
274,213
254,849
Grants made
Overseas mission societies 7,822
Christian relief & development agencies 500

17 -

Home mission & other church societies Home mission & other church societies 5,287
Total spend **includes £2,000 accrual 2024 **16,968
13,609
Fund raising costs -
100
TOTAL ORDINARY EXPENDITURE 291,181
268,848
EXCEPTIONAL ITEM -
EXTRAORDINARY ITEM
TOTAL EXPENDITURE 291,181
268,848

Note 2(b) Restricted Funds

Note 2(b) Restricted Funds
Restricted Funds - Summary
Income (£) Expenditure
(£)		 31 December 2025
(£)		 31 December 2024
(£)
Fabric Fund -
-
59,988
59,988
Bell Fund -
-
28,576
28,576
PA Hall Fund 16,727
12,512
4,771
556
Mugswell Hall Fund 2,696
1,966
3,750
3,020
Appeal Fund -
-
7,175
7,175
Specific donations 551
-
1,277
726
Trust Funds -
367
367
19,974
14,478
105,904
100,408
2(b) 1Note 2(b) Restricted funds continued 2025 2024
Fabric Fund £ £
Income - -
Expenditure - -
Net Income - -
Balance at 1 January 59,988 59,988
Balance at 31 December 59,988 59,988
2(b) 2 2025 2024
Bell Fund £ £
Income -
-
Expenditure -
-
Net income -
-
Balance at 1 January 28,576
28,576
Balance at 31 December 28,576
28,576

18 -

St Margaret’s Church, Chipstead Parish Notes to the Financial Statements for the year ended 31 December 2025 (continued)

2(b) 3Note 2 (b) Restricted Funds (continued) 2025 2024
Peter Aubertin Hall £ £
Income
Operating activities to generate funds -
3,000
Church hall lettings 16,027
19,180
Deposits received to be returned 4,175-3,475 2024 credit 700
-
Total income 16,727
22,180
Expenditure
Church hall running costs (11,642+708-810) 11,540
15,510
Church hall building maintenance 869
3,146
Total expenditure 12,511
(18,656)
Net Income 4,216
3,524
Balance at 1 January 556
(2,968)
Balance at 31 December 4,772
556
2(b) 4 2025 2024
Mugswell Hall £ £
Income
Fundraising 158 -
Donations 63 376
Church hall lettings 2,475 3,108
2,696 3,484
Expenditure
Church hall running costs 1,489 1,523
Church hall building maintenance 477 1,111
1,966 2,634
Net Income 730 850
Balance at 1 January 3,020 2,170
Balance at 31 December 3,750 3,020

19 -

2(b) 5 2025 2024
Appeal Fund £ £
Income - 100
Expenditure
Equipment purchases - (28)
Net Income/(expenditure) - 72
Balance at 1 January 7,175 7,103
Balance at 31 December 7,175 7,175
2(b) 6 2025 2024
Specific Donations £ £
Income
Collections 551
763
Donations -
100
551
863
Expenditure
Grants: Christian relief & development agencies -
(305)
Net Income 551
558
Balance at 1 January 726
168
Balance at 31 December 1,277
726
2(b) 7
Trust Funds 2025 2024
£ £
Income -
-
Expenditure -
-
Net Income -
-
Balance at 1 January 367
367
Balance at 31 December 863
367

2(b) 8. Endowment Fund

The Endowment Fund, a portion of which was originally donated in the 1970s, was done with the restriction that it should not be spent on any activities outside of the parish, or on routine running costs of the church. During 2018 the cost of strengthening the Bell Tower and adding a wooden gallery, were charged against the fund. There has been no expenditure charged against the fund in the past seven years.

20

St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31 December 2025 (continued)

3: Fixed assets for use by the PCC

3: Fixed assets for use by the PCC
Cost
2025
£		 Accumulated
Depreciation
2025
£		 Carrying
value
2025
£		 Carrying
value
2024
£
Equipment: laptops
Balance at 1 January 24,171 (23,520) 651 1,302
Additions at cost - - - -
Depreciation charge for the year - -
Balance at 31 December 24,171 651

A new audio-visual system was commissioned in 2025. A deposit of £21,121 was paid during 2024 and the balance of £28,650 was paid in January 2025. The cost has not been capitalised in accordance with the accounting policy.

4: Staff Costs 2025
R&P basis		 2024
Accruals basis
£ £
Wages and salaries (gross of tax) 64,679 56,652
Employers NIC 1,325 638
Employers Pension costs 1,612 1,412
Total 67,616 58,703
Average number of employees 2 2

Throughout the year the PCC employed a finance assistant and a youth worker, none of whom earned £60,000 pa or more. None of the employees were members of the PCC during 2025. There were no employee benefits to key management personnel in the previous or current year. The Church benefitted from Employers Allowance for its NIC contributions. This reduced employment costs by £6,408 during the year (2024: £5,000). Employers Allowance increased from £5,000 to £10,000 from 01 April 2025.

5 Receivables 2025 2024
Due within one year £ £
Income Tax recoverable: Gift Aid 24,457
Prepayments 34,187
Other receivables 3,784
Total 2024 cf to 2025 for the purpose of R&P draft accounts 62,428
62,428
6 Liabilities 2025 2024
Amount falling due within one year £ £
Deferred Income 2,050
Accruals 18,958
Total 2024 cf to 2025 for the purpose of R&P draft accounts 21,008
21,008

21 -

St Margaret’s Church, Chipstead Parish

Notes to the Financial Statements for the year ended 31 December 2025 (continued)

7 Analysis of Net Assets by Fund 7 Analysis of Net Assets by Fund
2025
Investments
and Current
assets		 Fixed assets Current
liabilities		 Fund
Balance
£ £ £ £
Unrestricted Funds 650,485
Fabric Fund 59,988
Bell Fund 28,576
PA Hall Fund 4,771
Mugswell Hall Fund 3,750
Appeal Fund 7,175
Specific Donations 1,277
Trust Funds 367
Endowment Fund 132,278
Total Funds adds to £890,271 888,669

A donation of £100,000 for disabled access will be returned in 2026.

7 Analysis of Net Assets by Fund

7 Analysis of Net Assets by Fund
2024
Investments
and Current
assets		 Fixed assets Current
liabilities		 Fund
Balance
£ £ £ £
Unrestricted Funds 790,939
651
(21,008)
770,582
Fabric Fund 59,988 59,988
Bell Fund 28,576 28,576
PA Hall Fund 556 556
Mugswell Hall Fund 3,020 3,020
Appeal Fund 7,175 7,175
Specific Donations 726 726
Trust Funds 367 367
Endowment Fund 132,278 132,278
Total Funds 1,023,625
651
(21,008)
1,003,268

22 -

St Margaret’s Church, Chipstead Parish Notes to the Financial Statements for the year ended 31st December 2025 (continued)

8. Related party transactions

During the year there were no related party transactions

9. Lease Commitments

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

2025 2024
£ £
Within 1 year 897
897
Within 2 to 5 years 448
1,345
1,345
2,242
Lease payments during the year 897
448

The statutory accounts for year ended 31 December 2024 disclosed zero lease commitments. This was incorrect and the comparative figures are corrected above. The 3-year lease was agreed in 2024 and relates to a printer photocopier. The lease contract is for 12 quarterly payments of £224.24

23 -