REGISTEIIED CHARITY NUMBEIt 11397N) REPORTOFTHETRus AND UK4UDITEO FIPI4TrKIAL STATEMENrs FOR TrEYEAR ENDED 31 DECEMB692fr24 TrE PAROCHL4L CHURCH COUNCIL OF THE ECCLESiASTfAL PARISH OFST k14RY THEVIRGhY, HENK4M Barrow LLP Chartered A¢¢ounlants Jackson House Slalion Road Chinglord London E4 78U
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESiASTICAL PARNI OF ST KthRY THE VIRGIN, FENK4M CONTENTS OFTHE FNAKL4L STATEMENTS FOR THEYEAR ENDE031 DECEMBER2 PaeMc8 Admlnl8tratl¥e Ddd18 lkn ofth8Tru8te 2 to 4 1ndvdl ExtIn*l PAPOrt Y1 of Fln8nclal Actlvlll81 811Ce Sh•8t Not8B to the nanCI1 StatOnts 8 to 17
THE PARWLAL CHURCH CCLINCIL OF THE ECCLESi4STICAL PARISH OF ST K4RY THE VIRGIN, HENFLAM REFERENCEANDAtXAINISTRITIVE DEfAILS FOR THEYFAR ENDED 31 DECEMBER 2024 TrUSTEES The Reverend L Wilson (Chaimanl S Hlcher (Church Warden) R Peake (Church Warden) CWd l Brocks {slary) S Tumer (Deanery Synod Rep.) A cott (resigr 28.2.241 M McFfederick S Wilcock D Paford (Deanery Synt>J Rep.) D Ward J Bri51er R Hughe5-Penney (Treasurer) Iresign&J 20.5.241 The Revwend S Balinlon (Coopted mter P Ht5 (Treasurer) lappoinled 20.5.241 P Sluart-Robinson PRIKIPAL ADDRESS Church Office ad FrkS High Street ElsenhTr Herttord$hire CM22 6DD REGISTERED CHARITY NUMBER 1139750 IWENCENT EK4MINER Barrow LLP Chartered Accounlanls House Slalion Road Chlngfcid Lffidon E4 78U ADVISERS Bankers Bardays Bank Plc, LBicesler, LE87 2BB Clydesdale Bank PLCIVirgin Moneyl, 30 Vinwl Pla, Glasgow, G12HL SpIon PAJilding Soc181y, The Bailey, Sknpton, BD231 DN Investment Managers Ruffer LLP, 80 Victoria Street, London, SW1E5JL Page1
THE PAROCHL4L CHURCH COUNCIL OFTHE ECCLESLASTICAL PARISH OF ST M4RY THEVIRGIN, HENFL4M REPORT OFTHE TRUSTEES FOR TFEYEAR ENDED 31 DECEMBER2)24 The trustees present their repcrt vllh the financia statements of the tharity for the year end&J 31 Drnber 2024. The Iruslee8 have ath)pt&J the proiAsions of Ac(x)unling and Reporting by Charili&s'. Slaternent of Recommènded Pradice aFpluble lo Charit$ preparing Iheir accounts in acCd with the FIna[la1 Retx)rting Slandard atplicable in Ihe UK and Republic of Ireland IFRS 1021 leffeclive1 January 20191. St Marls Church is &luated in Churth Slrèel, Hharn. 11 is part of the Dirtsse of Chelmsford within the Churth of England. The 1reSwnden address is Church off£, Okl Fks, High Street, Elsenham, CM22 6DD. The Parochia Churth Counal ol the Etxlesiasb'cal Parish of Sl the Virgin, Henham IPCCI is a regislered charity No1139750. PCC members who have sewj fron1 January 2024 unll the date ofthis ffjport's approval are lisl&J on the infomalion page. STRUCTURE, GOVERK4NCEAND lGEMENT C#)vernlng docUMt The Trustees confirm Ihal they have referred lo the guidance contained in the Charity Commission's general guidan on public benefrt when rewewro the charills arns and otr4.ects and in plning future activits'e5 and settsng policy for the y9ar. The Parochia Church cou1 IPCCI is a Grjrporale b¢JJy eslat4ished by the Church ol England. The PCC oterales under the PaKthlal Church Council Powers Measurè. The PCC meMr8 are the trusle8s. The Iruslee5 review Ihe nsks to the charity each year and milyale ainSt these where ly)sble induding forrnal risk assessmenl procedures lor ai Sla1 INItieS. The method ol appointrnenl of PCC members is sèl out in the Church Representation Rules. All Church attende8s are encourag lo register on Ihe Electoral Rc41 and slatKI lor eleclicfi lo the PCC. Obj11¥88 &)d pLtlvllle8 Sl Mary's PCC has the res51b111lY ol coeratIng with the incumtenl in promoting in the ecdesiaslrAI psh the whole mis&on of the Churth pasl(Yal, evangdi81ic, sock?1 and ecumenical. 11 aL80 has responsilllily for th6 maInlenan ol Sl Matys Churth The ncumtenls responsibilities includè the wKler benefice which, in adjits'on lo Sl Mary'5 Henham, indud8s Sl tel3 Ugley and Sl Mary's ElshaM. The PCC *ivdy works with the PCCS ol Ihese other parishes. AchS6vament8 4nd pw1onnce Church attendcO As al 310ecemter 2024, Ihere were 82 pShionerS on the Church Electoral Roll178 in 20231,125 in 20221 ol wkjm 25 were not resident within the parish. During 2024 due to re-ordering work, there were no weekly rn0mg seNces hdd al Sl Mary's Henhn. Parishioners wère enCraged lo atténd other sèrvices held in the Benefi. For the evenirrfJ service - meetings were held elsewhere in the wllage during Ihe year in a comkn'nats'on ol OSCA and aso the Henhan Ugley Sch1 & Comrnunily Hall. PAYI ofth8ya¥ Henham PCC had nlne meèllngs dunro the year of which tsvo wwe lonl meèlngs hekl th Elsenhwn aThJ Ugley PCCS to discuss bele linatKe. Son% of the subjects discussed during the year induded:. - Saleguarding, flsk AsSmentS and Youlh provision, Evangelism includlng Pudding evenings, MS Breakfasts. Fanning & Faith, Lite Night Party, Hharn Fair, Getting Ready for Chri51ma5 family day, Village Chri8lmas invitation deliverie5, Ouldorx Chrislrnas Carols round the tree and Easter Trail. - Remernbrance, Christmas services, Mothering Sunday, ThanksgliAng servi liaison with HUSCH for Sunday @6 Servi8. - Parish Weekend Away Financial accounts for Henham parish and HEU Benefe and apFointrrEnl of Indetendenl Examiner. Staff Committe8 and Mission Commill8e reports. - Deanery and Generd Synod retorts. - Parish Share & ILqison regarding Curate posthon. - Fabric R8ordering Project lor Henham churth. Page 2
THE pARclAL CHURCH COUNflL OF TFE ECCLESLASTICIL PARISH OF ST PAARY THE VIRGIN, HENHAM REPORT ¢THE TRUSTEES FOR TbEYEAR ENDED 31 DECEMBER2W Flnandal R1 Genwd fund IUnr88trtcknJ) Tota gr05s income in the Henham genwal lund amounted tr) E4,269120tJ. £3,964). Totsl expeThJilure of £1,79312023.' £1,234) resulted it? a nel income of £2,47612023.' income of £2,730) tfore a transfer of £4,fA1612023.' £Nill to the Benefice fund. The total balan carrd fomard was £18,53212023'. £20,662). HEU efI¢81Und (Rostrlctgj) The HEU er1 tssull for the year was a net incorne of £4,32412023 £11,934) buse payment of the parish share, amnting to £ 114,416, was pausoj bul this wa5 offsel by a drop in giving. This Iwk the balarKe catried forward al the end of the year lo £128,17112023.' £119,331). Parish share payments wwe paused in 2023 as a resutt of the ChuTch of England's deCiOn lo pro4 with Prayers of Love and Faith. Fc41owing n930tiatK with Ihe Dicrese, subiecl lo Ihe appJinlrn8nl of a curat6 to thè Benefice, paymenl of Parish Shwe will resume in 2025, Beneficew8eked Away fund lR88trfct) The baan tKoughl forward from Ihe pre8 was £1,955. Inccmè lor thè current ye¥ totall £8,697, while exFenditure arnounled lo £8,501, resulting in a surpPu$ of £19512023.. surplus of £1,955). Olhwfvnd$ (PA8trlct&l End0Wmt) The PCC ha5 subst1181 olher reslrrled fvnds trom dcfialions, legac$ and te]uests glven th varylng temis and conditions mainly for the m&nlenance ol ihe Churth buiklings and grounds. These funds are the.. Winmill fund, Bannehr fund, Fatfic fund, Overs fund, Hmt48tt fund, Childr8n and Youth Work fund, Vicarf8 DISCretary fund and threè EndomnI funds. Within reStrted reserves, the [napa1 Source ol Sncome is acy incorne. Investrnenl income and preedS from the sale of inv8slmenls have also suppjrted the conslrudion of the n6w landmark building intended lor wiyship and ccfflrnunty use. ExFendilure on the building project, amounting lo £1,5 rnilllon lo dale, has trken capilalis&l in ance with the PCC'5 w)unling pc4icy. This has conlribuled lo a r&JuctK)n in the cash balan from £1.7 million to £659.6K. The lolal value ol the three ETrJcywmenl funds inueas&J by £144 from £6.1 K lo £6.2Kwhllè reslricled reseNes increased by £47K. RwfAVeB poIIcy Al the end ol the year unreglricled genera funds amounted lo £18,53212023'. £20,662), $tr1 funds lo £2,474,727 12023,. £2,426,998) and 8n¢knrnnl funds lo £6,28612023'. £6,142). 11 is PCC pc4y io ensure that funds will be available lo covw future expenditure. The PCC dces not rn8inlain spriC levels of reserves on the funds with the exception of the HEU Benefice FuThJ Thts is because il has sKJnificanl aclivily each year includiry PSIbIlitY lor pawng staff. 11 has Iheref¢Jre been deoded thal an aFpropriale re5erve5 PK)liGy for the HEU Benefice fund is a rninimum ol Iwo months, expenditure or approximal8ly £7,(MJO12023'. £23,000,) The balance on the fabricfunds is suffuenl for Y foreseeable lulure repar reqUirennts. C)Ing Concwn The PCC believes il is finanaally Viab for the nexl 12 mcfilhs. The HEU Benefi fund balance of £128,171 faInS wdl ave the aFprowate level of reserves afKI Jong with Ihe unrestricted lund5 aThJ other restrict funds, il is suffiaenl lor activities lo be manlained for12 mth8. RrderIng and EXte$10n Prolfxt Following fomal PCC approval in Novemter 2022 of a budgèt of £1.75m lor this woject, ènat41ng work commenced in earfy 2023, This work was carried out under a Leller ol Inlenl, whilst the details ol Ihe final £1,6m man contract were finaised svJned on the 6th Cktober 2023. Al the PCC meeting in January 2024 aptxoval was given for an inuease in Ihe budget lo £1.8m lo cover an increase in the contingency feserve. The taty cornplelK)n date was Autumn 2024. Work conbnu&J during 2024 and practica., ¢ornpleli)n was &thieved Monday10 Mar¢h 2025. Page 3
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESiASTICAL PARISH OF ST MARY THE VIRGIN, HENHAM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEM8ER 2024 Approved by order of the boar ol Iiuglee on 16 Junp 2025 and signed on ils behallby.. S P**8r. Trustèe Pag8 4
INDEPENDENT EXAMINER'S IIEFCIIT TOTHE TRUSTEES OF THE PAROCHL4L CHURCH CCiINCIL OFTHE ECCLESIAsficAL PARISH OF ST MARY THE VIRGIN, HENHAM 1ndwenl aKwnInS rwt to the trustees of The Parochlal ul¢h Councll IJ The Ecdelltl¢I Pwlsh Of St MJY The Vlrgln, I rewrt lo the chaity Itustees on my èxamination ol the rnnts of The Parcthial Church Council Of The EccksiaslKal Parish Of Sl Mary The VirLMn, Henham Ilhe Trust) the year enfj 31 DecErntrr2024. P£spon81blllt1&8 ond b8&18 of report As thè charity Irusleès of the Trust Y we responsible fu the preparalKJn of the axixjnts in aLxIydan with the reqviwents of the Charities Act 20111'lheAct'l. I rep)rt in respect of my exanination of the Tru8fs arUnIS carned under S&thon 145 01 the Ad and in carying out rny eXinatiOn I have fdly•HI dl applicable DilOnS given by Ihe Charity CmIssIon under Secticfi 14515llbl ofthe Ad. Indep0ndt a¥•nlnaV8 I have completed my examinati l confim that no mrial matters have corre to my thn1 in wfth the examination givlng cause to belwe thal in Y malerid res@., axcn.ng r8cords w8r8 not kept in respect oflhe Tfust as requlred by SOn 130 oflhe Act., or the aCrn15 th) not acc(xd vilh those records., OT Ihe )Unts do not cornply wllh thè ap*18 requlrements conc8rnlThJ the form TrIen1 of aUnts $81 out In the charit IAcu)unts and RepJrt51 RgJulab'ons 21)J8 olher than any rwulrernenl that the accounts give a true and fair view whlth is not a matier considered as part of an indeFendenl exaMInat)n. I have no ccYKerns and have corne rOsS no other matters in neCt)n wh the examinatbjn lo Ythkth attention shcukj te drIn in this rep1 In order lo enats4e a pwr understanding oflhe Mnts lo te rhl. Gknn Armon.Jones ACA FCCA Barrvw LLP Chartered AC[untantS Jackson H¢se Slalion Road Chingr0 Lonth E4 78U 16 Jun8 2025 Paje 5
THE PARCThLAL CHURCH COUNCIL OF TrE ECCLESiASTICAL PARISH thc ST MIRY THE VIRGIN, HENHAM STATEMENT OF FINLIL ACTIVITIES FOR THEYEAR EN¥ED 31 DECEMBER 2024 31.12.24 Total lunds 31.12.23 Totsl lunds Unre51rKted fund R8Strict&J funds Endowment funds Not&8 INCOME AND 01mENTs FR( DationS and legaCS 2,362 56,505 58,867 71, chtle ¥11 Fees inccffle 1,666 1,666 Investment income Other income 47,922 9,168 145 48,C67 9,409 26,299 7,734 241 Totd 113,595 145 118,OC 106,351 EXPENDITURE ON Charllable TLtlvltle8 Church repairs and maintenanc8 offi hll u)st8 SeNice ¢osts Sundry costs Mission support Staff costs Depreciatm charges &Jpport costs Parish share Printing, p)St&Je slaticfiery DcatIonS Governan ctjsts Insurance Ughl & heat Benefice weekend away costs T8lethone 497 661 635 9,885 1,836 691 6,517 14,875 3,942 126 10,382 2,497 1,326 6,517 14,875 3,942 126 10,458 1,74B 2,552 8,858 15,484 2,576 96 16,2 714 11,475 7,485 639 2,673 10,907 2,116 714 11,475 7,485 639 2,673 10,9J7 2,116 20 2,163 2,423 4,675 8,217 Tot4 1,793 73,881 75,674 78,554 Net gainslllossgsl on inveslrnents 3,264 144 3,408 19,7441 NEf INCOD Transfers belween fund8 2,476 14,6061 42,978 4,751 45,743 18,053 12 11451 Not m0vernl In fund8 12,1301 47,729 144 45,743 18,053 RECONcILIATN OF FUNDS Total funds brcyjghl foAvard 20,662 2,426,998 6,142 2,453,802 2,435,749 TOTAL FUNDS CARRIED FORWARD 18,532 2,474,727 6,2e6 2,499,545 2,453,802 The notes fom part oflhe8effinanclal statements Page 6
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLEsfASTAL PARISH OF ST MARY THE VIRGIN, HENHAM BALANCE SHEET 31 DECEMBER 2024 31.12.24 Total funds 31.12.23 Total funds Unr6slri¢ted lund Restricted lunds Endowment funds Notes FIXED ASSETS Tangibl& assets Inveybnent8 Investments Investmenl prtrpety 1,528,751 1,528.751 256, 209,288 158,979 6,286 215.574 158,979 267,699 153.436 1,897,018 6.286 1,903,304 677,385 CURRENT ASSETS Debtors Cash al bank 10 34,075 641.121 34,075 659,653 17,333 1,793,013 18.532 18,532 675,196 693,728 1,810,346 CREDITORS Arnounls lalling due thIn one ar 11 197,4871 (97.4871 133,9291 NET CURRENT ASSETS 18,532 577,709 S96,241 1,776,417 TOTAL ASSETS LESS CURRENT LIABIUTIES 18,532 2.474,727 6,286 2,499,545 2.453,802 NET ASSETS 18,532 2,474.727 6,286 2,49J.545 2.453,802 FUNDS UnRstrKled funds Reslricled lunds EnLIMienl lunds 12 18,532 2.474.727 6,286 20,662 2,426.998 6,142 TOTAL FUNDS 2.499,545 2,453,802 The financial $18tsments were approved by Ihe Board ol Trustees and auihorised lor i%sue on 16 June 2025 and were ggned on Ils behalf by.. S hlckner- Tru51è8 The notes fom part ol these finanaal statements Page 7
THE PARlAL CHURCH COUKflL Cf THE ECCLESLISTICAL PARISH OF ST klARY THE VIRGIN, HENHAM NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 DECEER 2024 ACCOUNTING POLICIES Basls of pr8parlng th8 flnanclai 8tatemwt18 The financial statements have been prepared in accdanCe with A[unting and Reporting by Charities.. Statement of ReLyjrnMded Practice applicable lo charities preparing thdr aco)unls in rdanTr with the Financial Reporting Stsndard aFplicab1e in the UK and Republic ol Ireland IFRS 1021 leffe¢live l January 20191-ICharilies SORP IFRS 10211, the Financial Reporting Standard applicablè in the UK Reput of Ireld IFRS 1021, the Charities Act 2011 and the Chur Accounb'ng Regulations 2006, The PCC conslilules a public benefit entity as defined by FRS102. Thè financial slalemants have been prèpared to give a Iruè and fairf view and have departed from the Charities IAcLX)unts and Rèports) Regulations 2(X18 only lo the extent required lo provide a 'lrue and fair View,, Thls depatur8 has involved fdkNing the Accounting and Reportin9 by Charities.. Slalemènl of Recommended Practi applicable to chlS preparing their accounts in ar£OanCe with the Financia Reporting Standard applicable in the UK and Republic ol Ireland issued in October 2019 rather than the Accounting and Repc(tIg by Charllies.. Statement of Recommended practi effective from1 April 2005 whlch has sinc8 been Whdwn. The finandd statem8nls hav8 b88n prepared under the hislort41 cost convents'on eXp1 lor the valuation of inveslment a88818, which are shown al rnarkel value. The finanoal sialemenls Sndud8 all Iran8aclions, as8ets and liabilrties for whith the PCC15 responsible in law, They do nol indude th8 aC)unts of church grp$ that owe Iheli rnan affiliation to another bojy, those that are informal gatherings ol churth rnembers. Golng concern The finanual statements have been prepar8J on a gdng wncern basis a5 the PCC merrters believe Ihal no material uncertainties èxist. The PCC Mernrs have considered Ihe level of funds held and the 8xp8Cted level ol income and e¥onditure lor the12 months from aulhorlsing these financial staternents. Fund8 wuntIng Funds hekl by the PCC are.. lthr6jtrlct fund8 General funds which can be used by the PCC lor ordinary purposes. Do8lgnatwJ lund8 Monies sel aside by the PCC out ol unrèslricl8d funds lor SpfiC ftjture purwses or projects, There are currently no de&gnaled funds. Re8trICt fund8 Incfft from trusts or endowrnents whth may be expended only on those tn'¢led object5 provided in the terms of the trust Cf b8qU8sI', DOnatIS or grants received for a sp8afic Ob or invited by the PCC for a specifiG object. The fund5 May only be expended on th8 specific object for which Ihey were given. Any balanc8 rwnalning unsFenl al the end of the year 18 carrèd fomard as the balance on that fund. Endowment fundB En¢th)wmenl lund5 the capital ol whlch musl be m?Anlained,' only Income arising Irorn the investment of the 8nd*Ment may be used, e ilher as restricted or unrestricted funds Wnding on th8 wrpose s81 out in the terms ol the original endowmenl. Where the PCC has not invested in a fund separately, interest i8 appcfboned lo individual lund5 on an averèje-balance basis. Inyeglmenly Investments are slated al market value at the balance Sheet date, 31st December, Gains and losses arising from movements in market values during the year are Cr&jrt or tharggj lo th& Slalemenl ol FinanGial ACtivlieS based on the market value al the year end. Page 8
ThE pAROCHL CHURCH COUKflL OF THE ECCLESLISTICAL PARISH thc ST PIIRY THE VIRGIN, HENHAM NOTES TO THE F1fr14NCiAL STATEMENTS-conlinued FOR TFEYE4R ENDED 31 DECEER 2024 ACCOUNTING POLICIES- conllnu B•18 of pr6P4ring the flnanclal statements D8blor8 Trade and ther debtors a recc<Jnised al Ihe settlèment vauè béforè any tradè discounts duè, CaBh at bank Cash al bank and in hand includes cash and short4erm highly IB4uid inveslrnenls with a short term maturity ol three months or less fr the dale of acqui5ilion or opening of the dwil or similar aCCjnIS. Cr&Jltor8 Creditors and provisions are recognised where the Charity has a psent obligation resulting frorn a past evenl Ihal will probably result in the transfer ol fund5 to a third party and the armunl due 10 Settlè the abligalion can te mea5UTed or estirnaled rgliably. Creditors and provision$ are nOrnllY recojnised al the 5ettlernenl amount after allowing for any trade diseounls. Transl0n8 Involvlng rngmber8 of Ihe PCC connKt•J woni mberS of the PCC are obliged lo declare any interest In any prop08ed transaction that Involves them or connected pers8, and to withdraw from any discussion5 and not p¥t1pate in any vote taken. Any transactions undertaken by or on behJl of the PCC and involving member5 01 Ihg PCC andlor Gonnected persons are described in these notes, il applIcab. Flnancld In81rumen18 The charity only has flnancial assets and finanaal liatx'lilies of a kind Ihal qualify a5 basic financia instrumen15. Basic finandal instruments are Initially recognised al Irans&tion value and Subsequently ffleasud al Ihelr settlement value wilh the exception of bank loans which are 5ub5equenlly rnea5ud ai am(xtised cost uslng the effecllve interest melh()S. Finanaal assets include the bank balances, trade debtors and olherdebtors, bul exdude prepayments and taxation. Financial liabilities include trade credilors, other cr&Jilors, 81S and defwr&l income, bul exclud8 social 8e(xJrity and other taxes due. Income All incorne is induded in the Slalemenl of FIna21 AdIVi.eS ISOFAI when the charity is legally entild lo the iTr)Jme, and the amount can be quantified with rtaInlY. t)onations, collections and gifts are recognised upon receipt. Donai&J SeNS and facilitses are only included in the income Iwilh an equivalent amount in expendilurel where the benefrt to Ihe PCC is reasonably quantifiable, measurable and malerial. Thè vatuè pl&Èd on these osources is thè èslimaled va8 lo the PCC for the Servi or faalily reTrived. All income is Mnled for gross. Realised and unreali8ed gains or losse8 on Investrnts are Induded in the SOFA, £KdIlUr0 Liabilities are recognised as expendilure as SO as there is a lèjal or conslnJ¢ti¥e obligation wmmitting Ihe charily lo that exFenditure, 51 is probable that a Iranslor ol econcfflic benefits will be rwjuired in settlement and Ihe amount ol the 0100n ¢an be tnea5ured reliably. Expenditure is (X]UnIed lor on an ¢rual8 basis and ha5 been classified under heaJing5 Ihal gregale all cost related lo the category, Where costs cannot be directly allribuled lo particular headings they have tEen alkncaled lo arlj'vilies on a basls consist8nl with the use of resources. Grants offgr8d subject lo conditions whKh have not been mel al the ye¥ end datB are noted as a commilmenl bui not acuued as expenditu¢. TgIbI011x 888et8 DepKeciatson is provided al the following annual rates in order to wrSle off eath asset over ils eslimaled useful lrfe or, rf hekj under a fi'nanc% lease, over the lease te, whKhever is Ihe shorter. Propwiy- slraighl line over 20 years Hanl and Mhlnery- Slraighl line over 5 ye&s Page 9
ThE pARCHL CFLIRCH COUKIL OF THE ECCLESL4STIQAL PARISH OFST MARY ThE VRGIN, HENF14M NOTESTO THE FIK4NCiIL STATEMENTS-continu&J FOR THE YEAR ENDED31 OECEMBER2Q4 ACCCIJNTING POLICIES-contlnu&l TgIble1 a88ets Fixture and ffittings- Straighl1Sne over 5 years Conwated and b'Ced propety of any kind i8 exduded from the a0)nIS in ard(t with secticn 1CI2)lal ol the Charities Act 2011. HeV, a$sS and buildings funded and ccfistrueted by thè PCC prcfety licAns&J from the DIC&$8 arè e2p4talised vthere Ihe Hharn PCC undertakes devdoprnenl and imkyovwnenl works lo the IKw18ed buikjing. Talon The clarfty b exernptfrc¥n lax on ils th¥itable acti1$, Flre purch880 dIeIng c0rnmltmt8 Rentals pwd under OFeratin9 aSe$ ara tharged to the Skternenl of Financial Adivities on a slraighl line basis over the peri¢)J ol the lease. CRITICAL ACCOUNTING JUCGEMENTSAND KEI SOURCES OF ESTIMATION UKERTAIN No 8ignfficanljudgemen15 or a55umption5 have teen maJe by Ihe PCC In applylng the Charity'5 Kojunting pc4IcSes. Wilh resFecI lo the next repjrting FefK)J 2025, the nKisI sunifiwl area of unGertainty that affects the carying valug of aSSS hdd by the Churth are the level ol inve5trMI reiurn partjIarIY from investment InCL)n and ihe performance of Investrnenl markets. INIIESTMENT IPKOME 31.12.24 31.12.23 RlS 1Ved DivKlends and interest 4,8QK) 21,499 43,217 48,067 26,299 TRUSTEES REMUNERATION AND BENEFITS Th¥è wère no trustees, rernuneralion other nefitS for the yew ended 31 DecemtEr 2024 nor for Ihe yew ended 31 December 2023. TruIt, axpeni6s There were no trustees, exFenses p&d lorlhe year ended 3108C8thr 2024 forth8 year ended 31 C*%mber 2023. Pag810
THE PARCthL4L CHURCH COUNCIL OF ThE EccLESL4STL PARISH I]C ST MARY THE VIRGIN, HENKIM NOTES TO THE FININCIAL STATEMENTS-contlnu FOR THEYEAR ENCED 31 DECEMBER2024 STAFF COSTS 31.12.24 31.12.23 Waaes and salarS8S Soaal seojrty costs 14,206 669 14,761 723 14,875 15,484 The average monthly number of employees during the yewwas 88 follryw8'. 31,12.24 31.12.23 Part-llme admlnistratcf During the year the PCC 8rnpkJy8d a part-llme ajminislrator. Thls equated to 0.512023.. 0.51 of a fiJlk time empbyee. No emF4oyee5 receivj over£,OLjJ remuneration during the year12023'. nlll. The PCC DJsider5 Its key man&3ement [ene1 to comprise the Incumtenl Minister, the Churthwardens, Twsurer aTrJ Ihe Smtary la8 listed on pag811. coMPAPATI FOR THE STATENT OF FINCIALACTmTlEs Unrestrict& fund Restricted funds Endowfrenl funds Tol fund5 INCOMEAND ENtrfyllMErS FROM DcfiatKMs and lege5 2,321 68,776 71,096 Chwltable Ktlvltl85 Fees in(£ffle 1,222 1,222 Investment Inrne olr income 421 25,878 7,734 26,299 7,734 Tot4 3,964 102,398 1C6,351 EXPENDITUPE ON Chwltable &tlvlti Churth repair5 and malntenen¢e Office and hal costs Servic6 cnsts Sundry c051s MissKJn SUprt Slaft Costs Depraticfi tharges Supwt costs Parish share Prfnting, postage 5tstionwy oal5 C£svemance costs Insuran ghl & heal Eéneffice weekend away costs 200 13)01 10,458 1,153 2,552 8,419 15,484 2,576 10,458 1,748 2,552 8,858 15,484 2,576 595 439 16,295 16,296 2,163 2,163 2,988 2,423 4,675 8,217 2,423 4,675 8,217 Page11
THE PAROCHL4L CHURCH COUKIL OFThE ECCLESiISTfAL PARISH OF ST MIRY THEVIRGIN, HENFi4M NOTESTOTHE FINCIAL STATEMENTS-contlnu FOR THE YEAR ENDED 31 DECEMBER 2024 COMPARATIVES FOR ThE STATEMEfrif OF FIK4NCL4LACTIVITIES-conllnu&J UnrestriLtsJ Restrict&J fund funds EndoWnnI funds Total funds Total 1,234 77,520 13)01 78,554 Nèt ganslllc6ses} ¢Jn intS 110,2761 532 19,7441 NEf INCOME Tr¥1$ betw fvnd¥ 2,73) 14,592 744 731 17441 18,053 Not mo¥em•nt In fund6 2,730 15,336 1131 18,053 RECONCILL4TION OF FUNDS Total lund5 brought fomd 17,932 2,411,662 6,155 2,435,749 TOTAL FUNDS CARRIED FORWARD 20,e62 2,426,998 6,142 2,453,802 TA IBLE FIXED ASSErs Fixtuffjs and filtsng5 LnSed property Hanl and machit Totals Al1 janu 2024 Addlllons 245,944 1,272,562 18,397 3,881 1,033 265,374 1,276,443 Al 31 CeL¥rnber 2024 1,518,506 22,278 1,033 1,541,817 DEPRECTN Al1 January 2024 Chargè lor yea 8,091 3,942 1,033 9,124 3,942 Al 31 De¢ember2024 12,033 1,033 13,(X$6 NET BOOK VALUE Al 31 Oefflber 2024 1.518,5C 10,245 1,528,751 Al 31 DefflbeT 2023 245,944 10,3C6 256,29J In accord(¥ wilh the permiss gran by Chelrnsf¢yd DI0$an Registy dal8J 8 August 2022. The wrdering and eXtenn project ha5 tfftn in yo3re5s during the fInCla year, with caF4tal exFendilure incurr&J durln9 the ye¥ amounting 10 £1,272,562 and lolal prO1t o)sts to dale of £1.518,S)6. Pr&tic310)rnpletion wa5 aGhEved on Monday, 10 Marth 2025, with snagging wcths 8XFrtted to te cunF4eted by 5umrner 2025. Page12
THE PARoCHL CHURCH COUNCIL OF THE ECCLESL4STIGIL PARISH ST MIRY TrE VIRGIN, HENFLAM NOTESTOTrE FIK4TrLiAL STATEMENTS-continu FOR THEYEAR ENDED 31 DECEERn4 FIXEDASSET INVESTMEwrs sted investrnents MARKEf VALUE Al1 January 2024 tAsposas Revaluations 267,699 149,99)) 12,1351 Al 31 Decernb 2024 215,574 NEf B(XX( VALUE Al 31 Dec8rnber 2024 215,574 Al 31 D8¢emter 2023 267,699 Therewere no investn*nl assets outside the UK. Cost or valuation at 31 D8rn£r 2024 1$ repre5wled by., Lisled inve8lmenls Valuation in 2023 Valuation in 2024 267,700 152,1261 215,574 Diswsals during the year amounted to £49,, and a fair value bss of £2,135 wa5 rec>>Jn15&J, resultlng Sn a cthing far value of£215,574 as at 31 Decemter2024. INIIESTMENT PROPER FAIR VALUE At 7 January 2024 Revaluauon 153,436 5,543 Al 31 Der£mber2024 158,979 NEf B(KX< VALUE Al 31 Dec8mbw 2024 158,979 Al 31 Dbxernber 20rJ 153,436 Fair valu8 at 31 De¢ernber 2024 15 replesenled by.. Valualion in 2023 Vauation in 2024 153,436 5,543 158,979 Page13
THE PAROCHL4L CHURCH COUNCIL CF THE E¢CLEsST1cAL PARISH OF ST Ry THEVIRGIN, HENHAM NOTES TO THE FItrXNCIAL STATEMENTS-conllnu&J FOR THE YEAR ENDED31 DECEER2O24 INIIESTMENT PROPERTY- continugj The Chelmsford Diocèsan Board of FinwKe the title hokjer lor Henharn Stcrfes, The property is held uTraer s1( 6 of the PCC (Powers) Measure 1956. Henham PCC are the beneficiaries of Ihls tllle also r8sponsible for the upkÉep of thè During the year, tre investment prowly w&s revalued upward by £5,543, resulting in a fair valuè of £158,979 as al 31 olber 2024. 10. DEBTORS: AMOUNTS FALLING DUE WITHIN (hNEYEAR 31,12.24 31.12.23 Glft aid lax rVerable Other debtors prepaym1$ and accrued Income 1,566 32,509 978 13,949 2,406 34,075 17,333 11. CREDIT(RS., AMOUNTS FALLING DUEWITHIN 0E YEAR 31.12,24 31.12.23 Other crnjitiys 97,487 33,929 12. KK)VEMENT IN FUNDS Nel movement in funds Transf8r8 betseen funds Al 31.12.24 At1.1.24 Lknr881rlGlfAI fund8 Genèral fund 20,e62 2,476 14,8061 18,532 R8gtrlcl&l fund8 Mcar's Di8uetKsnary FaC Weekend Away HEU 8ef 15,3611 11,801 1,955 119,331 198 10,000 2,278,353 11,801 11961 4,516 4,324 128,171 198 10,OLXJ 2,322,604 Pimt4ett Winmlll 38,459 5,792 2,426,998 42,978 4,751 2,474,727 End0wmt fund8 Ormw(MJ Ington ChanrAI filhe 1,658 4,340 144 75 1381 11001 171 1,695 4,440 151 14 6,142 289 11451 6,286 TOTAL FUNDS 2,453,802 45,743 2.499,545 Page14
ThE PARCtHIAL CHURCH C(XJNCIL OF THE ECCLESIASTICAL PARISH OF ST Ry THE VIRGIN, HENFL4M NOTES TO THE FITriINCiIL STATEMENTS- contInu1 FOR TrIE YEAR ENDED 31 DECEMBER 2024 12 K•)VEMEKf IN FUNDS- ¢ontlnu Net movement in funds, included in the above e &s f8.. Incorning resources Resources expended Gains losses Movement in funds Unrestrlcl&l fund8 Ger fund 4,269 11,7931 2,476 R88tr1ctsd fund8 Weekend Away HEU B811c8 Winmill 8,696 57,499 47,41lJ 18,5011 153,1751 112,2051 195 4,324 3,264 113,595 173,8811 3,264 42,978 Endowm1 fund8 Omierod 'Ikinglon ChanTrl Tithe 37 1DJ 75 1LJJ 14 145 144 TOTAL FUNDS 118,009 175,6741 3,408 45,743 Compwatlveb for moVent In fund8 Net movement In funds Transfers between funds Al 31.12.23 A11.1.23 Lknre8Irkt fundB General fund 17,932 2,730 20,662 R#trICt fund8 Mcarfs Discretionary Fabric Weekend Away HEU Benef* 3,777 11,637 2,438 107,387 838 1e4 14831 11,944 744 11,801 119,331 Pimblett Bannehr Wlnmill lo,0 471,998 1,804,227 10,000 5,770 13,6411 1477,7681 477,768 2,278,354 2,411,662 14,592 744 2,426,998 Endowment fundB Omierod Ikington Chan1 Tithe 2,060 3,967 128 342 373 16 17441 1,658 4,340 144 6,155 731 17441 6,142 TOTAL FUNDS 2,435,749 18,053 2,453,802 Pa3e15
THE PAROCHLAL CHURCH COUIKIL CF ThE ECCLESLASTICAL PARISH OF ST KIRY THE VIRGIN, HENHAM NOTES TO THE FItrlIL STATEM&ITS- conllnu&l FOR TrEYEAR ENDED 31 tcEER 2024 12. MOIIEMENT IN FUNDS-conllnuwJ Comparatlv8 n81 movement In funds, included In thè arè asfolbws.. Inccffling r8r¢$ Re90urces expendbj Gains and lossès Movement in funds Unr68trlctpAI funde Genera fund 3,964 11,2341 2,730 R68tr1ct&l fund8 Vi¢arf8 DI$110nary Fabr Weekend Away HEU Benefice Bannehr Winmill 3,OQK) 164 7,734 65,775 12,1621 838 18,2171 153,8311 14831 11,944 5,770 13,6411 5,770 116,0461 25,715 113,3101 11r2,388 177,5201 110,2761 14,592 Endowment fund8 Ormerod Hlkinglijn Chancel Tithe 143 373 16 342 373 16 2W 532 731 TOTAL FUNDS 106,351 178,5541 19,7441 18,053 Ger81 fund.. Unrestrlctad lund8- held for thè ordinary purp)ses ol the PCC. RaBtrlctad funds: HEU b8n8flca fund - Funds held for the & expendiiure relating lo the joint benefice, F4)rl¢ fund - Funds held for the general mainlenance of the fabrtc &)d luffllshlngs of the church. 88ce we8k6nd fund - Funds held for wrp)ses of Èenefice retreats fund - Funds held for the upkeep of the graves ol the Overs lanlly. Ilmblott fund - Funds hèld forlhe rep2ir ol the graveyard wall. VlcarfB d18cretlonary fund - Funds held for the aslslance of needy parishloner8, Imnmlll fund - Funds held lorlhe generd Maintenan of the fabric and fumi5hings ol the ¢hur¢h, Bannthr fund- Fund5 held for the general manlenance ol the fabric and fumishings of the church. Endowment fundi: Ctymerod fund - Funds held for the general rnaintenance ol the churthyard. Fllklnglon fund Funds held for the upke8p of the graves of George PIlng1[ and hls wrfe. ChC fithefund - Fund5 held for chan1 repairs and inSurce of the thurch. - transf8rs were made from the unreslrirAed genwal tund lo th8 reslrict8d funds and en¢knvm8nts fund as a grant. Page16
THE PARC¢HIAL CHURCH COUKIL ¢%TTrE ECCLES871&lL PARk8H ST MARY THE VIRGIN, H&WAM NOTES TO TrE FILIL STATrAEKfs-contlnu•J FOR TFE YEAR ENDED 31 DECEER 13. RELATED PARfrf DISCLOSURES There were no disdosable IransactK)ns in res of PCC memters, nLY psOn8 closely lnnl with Ihem, other rdated parties. Page17