**Charity registration number 1140565 (England and Wales)** ## **ST THOMAS CROOKES** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **ST THOMAS CROOKES** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Revd Tom Finnemore|| |---|---|---| ||Ruth Aidley|| ||Jonathan Palmer|| ||Phoebe Leaver|| ||Joseph Ovenden|| ||Kevin Quinton|| ||Graham Blois|| ||Beverley Scott|| ||T Jeffery|| ||S Douglas|| ||C Breakey|| ||Revd Dr R Pollard (Chair of Trustees)|| ||S Dixon|| ||A Lamb|| ||R Dunigan|(Appointed 30 April 2025)| ||Dr B Humphrey|(Appointed 30 April 2025)| |**Charity number**|1140565|| |**Principal office**|Nairn Street|| ||Sheffield|| ||S10 1UL|| |**Independent examiner**|Grant Wade BA ACA|| ||BK Plus Limited|| ||Cannon House|| ||Rutland Road|| ||Sheffield|| ||S3 8DP|| |**Bankers**|Virgin Money|| ||Fargate|| ||Sheffield|| ||S1 1LL|| ||CCLA Investment Management Ltd|| ||Senator House|| ||85 Queen Victoria Street|| ||London|| ||EC2V 4ET|| ## **ST THOMAS CROOKES** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 4| |Independent examiner's report|5| |Statement of financial activities|6 - 7| |Balance sheet|8| |Statement of cash flows|9| |Notes to the financial statements|10 - 36| ## **ST THOMAS CROOKES** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ The Trustees present their annual report and financial statements for the year ended 31 December 2025 for St Thomas Crookes/STC Sheffield/the Church/the Charity. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's constitution, the Charities Act 2011 and "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 Republic of Ireland (FRS 102) (published in October 2019)". ## **Objectives and activities** The Charity's objects are to advance the Christian faith in the area of benefit in accordance with the principles and practices of the Participating Churches. The Council of Trustees has the responsibility of co-operating with the incumbent Revd Tom Finnemore, and the staff team of STC Sheffield, in promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the church campus and staff housing. It is committed to creation care and 'net zero' goals, having recognised the global climate crisis. The vision of STC Sheffield, as it stands alongside others in serving the city of Sheffield, is to be a church 'for the city'. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities. The Trustees are also aware of the Charity Commission's guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the Charity. The Charity provides the following activities for the benefit of the general public: - The celebration of public worship; - The teaching of the Christian faith; - Mission and evangelism; - Pastoral work, including visiting the sick and the bereaved; - The provision of facilities with a Christian ethos for the local community including (but not restricted to) the elderly, the young and other groups with special needs; and - The support of other charities in the UK and overseas. The Trustees confirm that they have complied with their duties under section 17 of the Charities Act with regard to public benefit. Part of the budget is allocated to supporting mission activities outside of STC Sheffield. Recipients may be suggested by contacting the church office or Team Rector. Disbursals are supervised by the Trustees. All Church activities rely heavily on the contribution of volunteers whose time, effort, prayer and dedication is greatly appreciated by all. - 1 - ## **ST THOMAS CROOKES** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **Achievements and performance** In 2025, as planned, the church was able to appoint a new Student and Young Adults Lead (who is also Associate Baptist Minister), a Families Lead, and a Campus Team Manager. Filling these vacancies has helped to support and develop existing and new ministries serving a variety of different people. A self-supporting Curate also joined the team. A ‘Discipleship School’ was launched with some sessions taking place on weekday evenings and others on Sunday evenings outside of student term time. A LifeGroup and a Renew Wellbeing Space were also begun, both meeting on a weekly basis. The ‘plants and grafts’ (All Nations Fir Vale, Christchurch Stannington and St John’s Park) continued to do well and further discussions on church planting and grafting opportunities continued with both the Diocese of Sheffield and the Yorkshire Baptist Association. The process of converting of the charity from an Unincorporated Association to a CIO was investigated but may take some time to complete. An exciting partnership with Hope Into Action was begun, with the aim of providing housing and community support for those vulnerable to homelessness. Every year the Church's core activities run on the income of the General unrestricted fund. Before the beginning of each year, a budget is drawn up for approval by the Council of Trustees. As part of this process the Church members are asked to pray and, as an expression of their faith in God, make a commitment of how much they will give to the General Fund during the year. ## **Financial review** ## **RISK MANAGEMENT** The Council of Trustees has given due consideration to the health, safety and financial risks it faces in managing the operations of the Church. The Council believes it has in place adequate systems to monitor and control health and safety issues as they arise. A new Financial Controls Policy was produced in 2023. The Council believes it continues to maintain an appropriate system for the authorisation, recording and control of accounting and financial information sufficient to show and explain the financial transactions of the Church. Overall financial supervision by the Trustees is maintained by the use of budgetary control, monthly accounts and special reports. The Trustees have been aware for several years that the Church has potential liabilities in the multi-employer pension schemes in which it participates. There is no requirement for deficit payments at the current time towards the Pension Builder Scheme administered by the Church of England Pensions Board. ## **GENERAL FUND HIGHLIGHTS FOR THE YEAR** Giving from Church members, including tax recovery, £607,264: 1.1% up on 2024. Income totals £679,550: 1.0% up on 2024. Expenditure, including transfers to/from other funds, £672,018: 0.2% down on 2024. Operating Capital at year end £40,380 compared with £32,848 at the end of 2024. ## OTHER FUNDS St Thomas Crookes manages the finances for St Thomas Church Nursery, and until 31 December 2024 it also did so for All Nations Baptist Church in Fir Vale. In December 2024 the majority of the All Nations fund and the Eden Fir Vale fund were transferred to All Nations church, the balance being transferred in 2025. In 2025, the General Fund income above represented 77.8% of total income. The Nursery received £130,422 (14.9%) of which £117,624 was received by way of grants from Sheffield City Council. The ‘Nehemiah Fund’ for church planting was launched in autumn 2021. At the end of 2025 the fund stood at £66,774. This fund is disbursed to church planting and grafting projects as appropriate. Fuller details of the restricted and designated funds can be found in notes 20 and 21. - 2 - ## **ST THOMAS CROOKES** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ The Trustees have reviewed the reserves of the Church. This review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves. The review concluded that to allow the Church finances to be managed effectively and to provide a buffer for uninterrupted services, unrestricted reserves (excluding property and related loans) equivalent to one month's expenditure should be maintained. At 31 December 2025, the value of such reserves was £40,380. The designated funds in the accounts represent: (a) the net book value of tangible fixed assets and pension fund deficits, and (b) other sums set aside for specific projects. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Plans for future periods** In 2026, the church is seeking to continue its church planting and grafting strategy. It is planned to launch ‘Furnace’ as a sustained, focused rhythm of prayer, and ‘STC Compassion’ as a way to strengthen the church’s growing ministry with those on the margins. On the team it is hoped to welcome two new Curates (one self-supporting, one funded by the Diocese of Sheffield), and to appoint a ‘Compassion Worker’ to help lead and coordinate STC Compassion. Leadership training, particularly for Table leaders, continues to be a high priority. St Thomas Church Nursery will be closed at the end of the 2025-26 academic year. The focus will be to finish well, for the children, their families and the staff. ## **Structure, governance and management** The Council of Trustees is a corporate body established by the Church of England and the Baptist Union, under the Local Ecumenical Partnership (LEP) Constitution of St Thomas Crookes and operating under the Parochial Church Council Powers Measure. It is a charity which was previously excepted by order from registering with the Charity Commission but became registered with effect from 23 February 2011 (Registration No. 1140565). The Charity is governed by a constitution adopted on 28 April 2010. The Trustees who served during the year and up to the date of signature of the financial statements were: Revd Tom Finnemore Ruth Aidley Jonathan Palmer Daniel Allwood (Resigned 30 April 2025) Phoebe Leaver Joseph Ovenden Henry Claudio (Resigned 30 April 2025) Kevin Quinton Graham Blois Beverley Scott T Jeffery S Douglas C Breakey Revd Dr R Pollard (Chair of Trustees) S Dixon A Lamb R Dunigan (Appointed 30 April 2025) Dr B Humphrey (Appointed 30 April 2025) The appointment of Trustees is governed by the LEP Constitution of St Thomas Crookes. - 3 - ST THOMAS CROOKES TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEAIBER 2025 Councd of Trustees dewles the day-to-day m*wement of the Church to the staff team headed by the incumbent, and the stsff UrKIef￿ training appfowiate to their ministry areas. Various Subgroups an¢J Working Groups comprising Trustees. staff and church members wth relewil inleresl or eXpe￿"se also oversee specffic area$ of ¢hurth lrfe. N8W truslees are briefgd on Ihew respwsibilii*s. tr*ir legal obltgab.ons urhjer ch*rty law. the ￿nIent of conslilulion, Ihe deu"sKM) Ma￿"n9 k¥ocess and the recatt fin1Th￿l perfonnance of the tharity. Pay and ￿muneral￿)n is based on a slaff gfaying slwclwe whth Trs atyeed ty the Twstees. The number of persons Ihe LEP Memberslwp Roll al 31 t)￿ember 2025 was 197 as folhyws.. Angli¢an Electoral Roll 116 Anglican Clergy 4 Baplist Membership Roll 46140 ￿￿5 6 yot to bo rabfied) No (JenonMnalk)nal affiliation 31 The Trusle6s' report was apwovod by the CounLyI ofTrustees. Revd Dr R Pollard (Chalr of Tfuslees> 10 April 2026 ST THOMAS CROOKES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST THOMAS CROOKES I report to the Tntstees ¢Jn examhmkn ofthe fnan¢aal statern￿ of St Thomas Cr¢)tskes (the Charity) for the year endad 31 Decents 202S. ReSP￿￿1b111t1e$ al￿ bas1• d rnport the Iwjirements ofthe Chwil*èfvd2011. I report in respect of my exanmnation olthe Charit*s finaKial 5tatemuts cwried oul under sedion 145 of the Charilres Act 2011. In carrying (Krt my exaThination I have follo*Ed the fAre¢l￿ g¥en by the Charty Comm188ion under 145(5Xb) ofthe Charilles Act 2011. &nce the Charitys gross tncome exee¢d8d £250.(XJO. the kndependent exaniner must b• a m•mber of a body 8ted tn section 145 of the Charthes 2011. 1 o)nfrni that l am walSfied to undertake the examwiallon bef*use l am a member of ICAEW. vkich is one ofthe lth bothes. I have completed my examlnalion. I confm that no matters have ¢ome lo ffly altwrtion in ￿5￿nectIOn vAlh the examination gNwig me Caw to bellev¢ that In any matwia re accoundng records were respert ofthe Charity as iewred by secli(m 130 of the C*￿[tIeS Ad 3 the finarK1￿ statemerts do not ￿MplY tAith the apwl¢atk re(wtrements conceming the form and content of finandal slalements set in the thwilies (A¢¢ounts and Rwrts) Regulation$ 2008 other than any requw¢ment that the ffinan¢ial statements fft a true and fair view. ￿th1¢h is not a matter considered as part ofan kndePen￿rt exanknallon. I have no and have come ary¢>$5 no ots mall￿5 in (x>nnedi(xJ ￿lIh the examlnation to Ylmch attenlton shoukl be in thi5 Tewt in ordw to ofthe frfwi(4at statements to be reached. antwade &4 Independent Examlner arteredAryxwntant BK Plus Limitod Cannon House RuU8nd Road Sheffield Soulh Ywkslmre S3 8DP Dated: 29 2026 ## **ST THOMAS CROOKES** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ |**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2025**
**2025**
**2025**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
607,264
325
163,176
Charitable activities
**4**
66,779
18,118
10,581
Investments
**5**
5,507
-
2,175
**Total income**
679,550
18,443
175,932
**Expenditure on:**
Charitable activities
**6**
729,928
30,336
129,999
**Net (outgoing)/incoming resources before**
**transfers**
(50,378)
(11,893)
45,933|**Total**
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
**2025**
2024
2024
2024
**£**
**£**
**£**
**£**
770,765
580,724
15,330
190,908
95,478
75,816
18,531
10,913
7,682
8,736
-
3,160
873,925
665,276
33,861
204,981
890,263
748,851
(168,412)
236,819
(16,338)
(83,575)
202,273
(31,838)|Total
2024
**£**
786,962
105,260
11,896| |---|---|---| |||904,118| |||817,258| |||86,860| - 6 - ## **ST THOMAS CROOKES** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ |**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2025**
**2025**
**2025**
**Notes**
**£**
**£**
**£**
**Net (outgoing)/incoming resources before**
**transfers**
(50,378)
(11,893)
45,933
Gross transfers between funds
**13**
57,910
(28,600)
(29,310)
**Net income for the year/**
**Net movement in funds**
7,532
(40,493)
16,623
Fund balances at 1 January 2025
32,848
1,434,508
98,475
**Fund balances at 31 December 2025**
40,380
1,394,015
115,098|**Total**
Unrestricted
Unrestricted
funds
funds
general
designated
**2025**
2024
2024
**£**
**£**
**£**
(16,338)
(83,575)
202,273
-
61,998
4,378
(16,338)
(21,577)
206,651
1,565,831
54,425
1,227,857
1,549,493
32,848
1,434,508|Restricted
funds
2024
**£**
(31,838)
(66,376)
(98,214)
196,689
98,475|Total
2024
**£**
86,860
-| |---|---|---|---| ||||86,860
1,478,971| ||||1,565,831| The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 7 - ST THOMAS CROOKES BALANCE SHEEr AS Af31 DECEMBER 2025 2026 2024 Flxed a88•ts Tangible asset$ 14 1.519.422 1.S23,243 Current assgts DebtOTS Cash al bank and in hand 15 22.393 172.864 34.3 189.188 195.257 223,584 Crfditors: •mounts falllng due within on8 year 17 130.186) 145,9961 Il•t cuffonl 48s•ts 185.071 177.588 Totsl ai#ets l•ss eurrent liablllll•s 1.684,493 1.700.831 CredltoYs'. amounts falllny aft•r mor• than one year 18 I13s.L￿)> 1135,0001 Net w•ts •x¢luding p•nslon liabilty 1.549,493 1,565,831 Net as•ts 1.549.493 1.565,831 The funds of the Charity Restricted incomè funds Unreslricted fuThJs- general Unreslricled funds- designated 21 115.098 40.380 1,394.015 98.475 32.848 1.434.508 1.549,493 1,565,831 The ffinancial stslements ¥vere apwo¥pd ty the Tnjstees ￿ 10 2026 Rwl Dr R Pollard (Chair of Trustees) ## **ST THOMAS CROOKES** ## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ |**Notes**
**Cash flows from operating activities**
Cash absorbed by operations
**25**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash generated from investing**
**activities**
**Net cash used in financing activities**
**Net decrease in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2025**
**£**
-
7,682|**£**
(24,006)
7,682
-
(16,324)
189,188
172,864|**2024**
**£**
(849)
11,896|**£**
(52,149)
11,047
-
(41,102)
230,290
189,188| |---|---|---|---|---| - 9 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **1 Accounting policies** ## **Charity information** St Thomas Crookes is a corporate body established by the Church of England and the Baptist Union, under the Local Ecumenical Partnership (LEP) Constitution of St Thomas Crookes and operating under the Parochial Church Council Powers Measure. It is a charity which was previously excepted by order from registering with the Charity Commission but became registered with effect from 23 February 2011 (Registration No. 1140565). The Charity is governed by a constitution adopted on 28 April 2010. ## **1.1 Basis of preparation** The financial statements have been prepared in accordance with the Charity's constitution, the Charities Act 2011 and "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 Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold and leasehold properties. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds represent the funds of St Thomas Crookes that are not subject to any restrictions regarding their use and are available for the general purposes of the Church. Designated funds are those funds set aside out of unrestricted funds by the Church for a specific purpose over whose use and purpose the Council of Trustees has discretion. Restricted funds are funds subject to specific conditions imposed by the donor or by the specific terms of a trust deed or other legal measure.. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 10 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **1 Accounting policies** ## **(Continued)** Income from charitable activities includes any incoming resources received which are a payment for goods or services provided for the benefit of the charity's beneficiaries. Gifts in kind donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. Donated facilities and professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Grants received - If these are subject to pre-conditions for entitlement or use by the donor which have not been met at the year end they are included in creditors to be carried forward. Grants of a restricted nature, which have, under the terms of the restriction, been fully expended during the year of receipt, are included as restricted income. ## **1.5 Expenditure** Liabilities are recognised as soon as there is a legal or constructive obligation to pay out the resources. Expenditure is included on the accruals basis and has been classified under headings that aggregate all costs related to the SOFA (Statement of Financial Activity) category. Expenditure on raising funds includes any costs associated with generating incoming resources from all sources other than from undertaking charitable activities. Expenditure on charitable activities includes all the resources applied by the Charity in undertaking its work to meet its charitable objectives. Other expenditure includes governance costs which are those expenses incurred such as independent examination of the accounts, legal advice for trustees and costs associated with constitutional and statutory requirements. Support costs are directly attributed to charitable activities on an actual basis and no further apportionment is necessary. Redundancy costs incurred in the period are charged directly to the SOFA, allocated as necessary between the relevant funds. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Crookes Church Centre Freehold land and None buildings Leasehold Parsonages None Fixtures and fittings 25% straight line - 11 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **1 Accounting policies** **(Continued)** ## a) Consecrated land and buildings Consecrated and benefice property is excluded from the accounts by s.10(2)(a) of the Charities Act 2011. Other land and buildings These have been included at valuation when capitalised or at cost where acquired during the year. The carrying values of tangible fixed assets previously valued when capitalised have been retained at their book amount as a deemed cost on transition to SORP FRS 102 and updated for any subsequent revaluations. No depreciation is provided on freehold land and buildings. It is the policy of the PCC to maintain its properties in such a condition that their value is not impaired by the passage of time. The residual value is similar to its carrying value and therefore depreciation would be immaterial. The Council confirms that it is formally responsible for the maintenance and repair of these properties and has jurisdiction over their future use or potential sale. The Council considers it most appropriate to treat such properties as designated fund assets. b) Fixtures and fittings No value is placed on moveable church furnishings held by the Church wardens on special trust for the Council and which require authority for disposal since the Council considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed. Individual items of equipment are capitalised if they cost more than £500 and can be used for more than one year. They are valued at cost or, if gifted, their value on receipt. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 12 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **1 Accounting policies** **(Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Taxation** The Charity is not liable to income tax or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or expense to which it relates. ## **1.11 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. - 13 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **1 Accounting policies** ## **(Continued)** ## **1.12 Retirement benefits** ## **Pensions** ## Anglican Clergy The church has no direct responsibility for Anglican Clergy pension premiums. Pension costs are included in the Common Fund contributions paid monthly to the Sheffield Diocesan Board of Finance. ## The Church of England Pension Scheme St Thomas Crookes participates in the Pension Builder Scheme section of the Church Workers Pension Fund (CWPF) for lay staff. The scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers. ## CWPF has two sections: - 1) the Defined Benefits Scheme - 2) the Pension Builder Scheme, which has two subsections; - a. a deferred annuity section known as Pension Builder Classic, and, - b. a cash balance section known as Pension Builder 2014. ## **Pension Builder Scheme** Both sections of the Pension Builder Scheme are classed as defined benefit schemes. _**Pension Builder Classic**_ provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. _**Pension Builder 2014**_ is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The Pension Builder Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pension costs of £27,450 (2024:£30,942) charged to the SOFA in the year are the contributions payable. A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022. For the Pension Builder Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2026, the Board chose to grant a discretionary bonus of 10% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 1997 service so that the pension increase was also 10% (where usually it would be calculated based on inflation up to an annual cap of 5% for pensions in payment in respect of service prior to April 2006 and 2.5% for pensions in payment in respect of service post April 2006). This followed improvements in the funding position over 2025. There is no requirement for deficit payments at the current time. For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. The Church of England Pensions Board has agreed that some employers could use assets in the DBS of the CWPF in lieu of contributions to Pension Classic and/or Pension Builder 2014. The next valuation is due as at 31 December 2025. - 14 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **1 Accounting policies** ## **(Continued)** ## **Pensions (continued)** ## **Pension Builder Scheme (continued)** The legal structure of the scheme is such that if another employer fails, St Thomas Crookes could become responsible for paying a share of the failed employer's pension liabilities. At 31 December 2024, STC Sheffield had no active members in the Pension Builder Classic and 25 active members in the Pension Builder 2014 section. St Thomas Crookes contributes 7% of basic salary (which includes 0.75% for death in service cover of 3 times salary) and the employees are required to contribute a minimum contribution of 1.75%. ## **Baptist Ministers Schemes** Baptist Ministers and Baptist Student Ministers were eligible up to December 2011 to be members of the Baptist Ministers Pension Fund which is a Final Salary Scheme. The assets of the Fund are held by the Baptist Ministers Pension Trust. The Church is a participating employer. From January 2012 Baptist Ministers and Baptist Student Ministers are eligible for membership of the Baptist Pension Scheme ("the Scheme") which is a Defined Contributions Scheme. The assets of the Scheme are held by Legal & General. The Church has one current member in this scheme. The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited). The Ministers are eligible to join the Scheme, which is not contracted out of the State Second Pension. From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members' Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Legal and General Life Assurance Society Limited. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members in the event that they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Unum Limited. Benefits in respect of service prior to 1 January 2012 are provided through the Defined benefit (DB) Plan within the Scheme. The main benefits for pre-2012 service were a defined pension benefit of one eightieth of Final Minimum Pensionable Income for each year of Pensionable Service, together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. The Scheme, previously known as the Baptist Ministers' Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. A formal valuation of the Defined Benefit (DB) Plan was performed at 31 December 2017 by a professionally qualified Actuary using the Projected Unit Method. The latest valuation of the DB Plan revealed a surplus of assets compared with the value of liabilities of £4 million. As a result of the valuation, the charity is no longer liable for any deficit payments. The Church has received notice that its share of the estimated deficit would be £Nil (2024: £Nil) as the scheme is now in surplus. The profit and loss charge for the period represents the employer contributions payable. The total pension cost for the Church was £4,786 (2024: £3,171). - 15 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **2 Critical accounting estimates and judgements** In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 16 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **3 Income from donations and legacies** |**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general designated**
**2025**
**2025**
**2025**
**£**
**£**
**£**
Donations and gifts
607,264
325
37,552
Grants
-
-
125,624
607,264
325
163,176
**Donations and gifts**
Commitments and legacies
488,683
325
-
Open plate and online
12,152
-
-
Gift Day
-
-
-
Gift Aid recovery
106,429
-
-
All Nations Fir Vale
-
-
605
Eden Project
-
-
(185)
Nehemiah Fund
-
-
25,531
Christmas offerings
-
-
2,903
Other donations
-
-
8,698
607,264
325
37,552|**Total**
**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general designated**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
645,141
561,437
15,230
59,740
125,624
19,287
100
131,168
770,765
580,724
15,330
190,908
489,008
460,047
15,230
-
12,152
8,964
-
-
-
-
-
7,485
106,429
92,426
-
-
605
-
-
19,882
(185)
-
-
5,512
25,531
-
-
15,770
2,903
-
-
2,074
8,698
-
-
9,017
645,141
561,437
15,230
59,740|**Total**
**2024**
**£**
636,407
150,555| |---|---|---| |||786,962| |||475,277
8,964
7,485
92,426
19,882
5,512
15,770
2,074
9,017| |||636,407| - 17 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **3 Income from donations and legacies** **(Continued)** ## **Government grants** Included in Grant receivable were Nursery receipts from Sheffield City Council totalling £117,624 (2024 - £123,668). ## **4 Charitable activities** |**General**
**activities**
**Ministries**
**and**
**operations**
**2025**
**2025**
**£**
**£**
Weddings and funerals
6,117
-
Rent and room hire
46,191
-
Church Activities
-
14,471
St Hild College
-
18,118
Nursery
-
10,581
52,308
43,170
Analysis by fund
Unrestricted funds -
general
52,308
14,471
Unrestricted funds -
designated Property
-
18,118
Restricted funds
-
10,581
52,308
43,170|**Total**
**2025**
**£**
6,117
46,191
14,471
18,118
10,581
95,478
66,779
18,118
10,581
95,478|General
activities
Ministries
and
operations
2024
2024
**£**
**£**
5,619
-
57,631
-
-
12,566
-
18,531
-
10,913
63,250
42,010
63,250
12,566
-
18,531
-
10,913
63,250
42,010|Total
2024
**£**
5,619
57,631
12,566
18,531
10,913| |---|---|---|---| ||||105,260| ||||75,816
18,531
10,913| ||||105,260| - 18 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **5 Investments** ||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---| ||**funds**|**funds**||**funds**|**funds**|| ||**general**|||**general**||| ||**2025**|**2025**|**2025**|**2024**|**2024**|**2024**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Interest receivable|5,507|2,175|7,682|8,736|3,160|11,896| - 19 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **6 Expenditure on charitable activities** |**Unrestricted**
**funds**
**general**
**Unrestricted**
**funds**
**designated**
**Restricted**
**funds**
**2025**
**2025**
**2025**
**£**
**£**
**£**
**Direct costs**
Staff costs
540,769
3,990
107,278
Depreciation and impairment
-
3,821
-
Capitalisation of fixtures
-
-
-
Revaluation of property
-
-
-
Church Activities
24,331
-
-
565,100
7,811
107,278
Grant funding of activities (see note 7)
13,190
-
-
**Share of support and governance costs (see note 8)**
Support
147,798
22,525
22,001
Governance
3,840
-
720
729,928
30,336
129,999
**Analysis by fund**
Unrestricted funds - general
729,928
-
-
Unrestricted funds - designated
-
30,336
-
Restricted funds
-
-
129,999
729,928
30,336
129,999|**Total**
**Unrestricted**
**funds**
**general**
**Unrestricted**
**funds**
**designated**
**Restricted**
**funds**
**Total**
**2025**
**2024**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
**£**
652,037
516,356
3,384
129,593
649,333
3,821
-
7,890
-
7,890
-
-
(849)
-
(849)
-
-
(194,413)
-
(194,413)
24,331
16,392
-
-
16,392
680,189
532,748
(183,988)
129,593
478,353
13,190
10,000
-
67,515
77,515
192,324
200,393
15,576
39,711
255,680
4,560
5,710
-
-
5,710
890,263
748,851
(168,412)
236,819
817,258
729,928
748,851
-
-
748,851
30,336
-
(168,412)
-
(168,412)
129,999
-
-
236,819
236,819
890,263
748,851
(168,412)
236,819
817,258| |---|---| - 20 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **7 Grants payable** |**Unrestricted**
**funds**
**general**
**2025**
**£**
Grants to institutions:
Baptist Home Mission - Annual support
6,300
BMS World Mission - Annual support
1,200
All Nations Firvale
-
Christchurch Stannington
-
Eden Network
-
Other
5,690
13,190|**Total**
**2025**
Unrestricted
funds
general
Restricted
funds
2024
2024
**£**
£
£
6,300
6,000
-
1,200
1,200
-
-
-
42,000
-
-
15,000
-
-
10,515
5,690
2,800
-
13,190
10,000
67,515|Total
2024
£
6,000
1,200
42,000
15,000
10,515
2,800| |---|---|---| |||77,515| ## **8 Support costs** |Office administration, IT
and website development
Utilities, insurance and
repairs
Social transformation
costs
Technical resources
Networks
Welcome and hospitality
Sundry restricted fund
expenses
General expenses
Legal and professional
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
26,708
-
79,383
-
625
-
11,502
-
1,598
-
19,171
-
32,130
-
21,207
-
-
4,560
192,324
4,560
192,324
4,560|**2025**Support costs Governance
costs
**£**
£
£
26,708
26,298
-
79,383
119,117
-
625
15,577
-
11,502
12,726
-
1,598
1,711
-
19,171
21,572
-
32,130
39,310
-
21,207
19,369
-
4,560
-
5,710
196,884
255,680
5,710
196,884
255,680
5,710|2024
£
26,298
119,117
15,577
12,726
1,711
21,572
39,310
19,369
5,710| |---|---|---|---| ||||261,390| ||||261,390| Included in Legal and professional fees is an amount of £3,840 (2024 - £5,710) for Independent Examiner fees. - 21 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ |**9**|**Net movement in funds**|**2025**|**2024**| |---|---|---|---| |||**£**|**£**| ||The net movement in funds is stated after charging/(crediting):||| ||Depreciation of owned tangible fixed assets|3,821|7,890| ## **10 Trustees** Church members, including Trustees, are encouraged to give financially to the work of the Church. They believe that it is part of God's call on their lives to trust him with their finances and to be generous in their giving. No trustees sought to influence the policies of the Church through the amount they gave. Total Donations from trustees amounted to £66,072 in the year ended 31 December 2025 (2024: £51,475). Expenses amounting to £621 (2024: £550) and relating to mobile phone costs were paid on behalf of two Trustees. One trustee received a sabbatical payment of £4,110, paid for by contributions from the congregation. The Church has a written agreement to pay annual rent to a trustee. Details of the Trustee and rent paid during the year are as follows Revd Richard Pollard to provide a minister's home for him and his family. - £18,214 (2024 - £13,500). This property was vacated in November 2025 and he receives an increased salary in lieu of this. The Trustees approved this written agreement. The Charities Act 2011 specifically allows the Church to make payments of this nature. During the year under review, five Trustees were paid for their services as employees. These payments are in accordance with the provisions in the charity's constitution dated 26 April 2010. Details of payments to or on behalf of Trustees are set out below: ||**Salary**|**Pension**|**House costs**| |---|---|---|---| ||**£**|**£**|**£**| |Revd Tom Finnemore|15,661|1,096|2,036| |Revd Richard Pollard|41,756|4,786|21,529| |Ruth Aidley|24,384|1,707|-| |Joe Ovenden|43,006|3,010|-| |Kevin Quinton|5,950|417|-| Excluding the above amounts, received under written agreements, no trustee or other person connected to the Charity had any personal interest in any contract or transaction entered into by the Charity during the year. - 22 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **11 Employees** The average monthly number of full-time employees during the year was: |General Ministry and Administration
Eden Project and All Nations, Fir Vale
Nursery
Total
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2025**
**Number**
13
-
3
16
**2025**
**£**
426,316
32,418
32,236
490,970|**2024**
**Number**
14
2
4| |---|---|---| |||20| |||**2024**
**£**
458,971
27,872
34,113| |||520,956| In addition, further staff would be included under Ministries and Administration heading but they are paid by the Church Commissioners. The Church paid Common Fund contributions to the Diocese of Sheffield for their services. This figure includes housing and other support costs as well as payroll costs. |Common Fund contributions
Employees paid by Church Commissioners
There were no employees whose annual remuneration was £60,000 or more.
**Staff costs**
Employment costs
Diocesan Common Fund contribution
Staff expenses
Staff housing costs
Staff training and pastoral care
Intern costs|**2025**
**£**
68,000
1
**2025**
**£**
490,970
68,000
13,336
36,050
8,567
35,114
652,037|**2024**
**£**
65,000| |---|---|---| |||2
**2024**
**£**
520,956
65,000
9,770
32,248
6,356
15,003| |||649,333| - 23 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **12 Taxation** The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. - 24 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **13 Transfers** |**Unrestricted**
**funds general**
**Unrestricted**
**funds**
**designated**
**Restricted**
**funds**
**2025**
**2025**
**2025**
**£**
**£**
**£**
Eco fund
-
-
-
Designated Contingency Fund
27,100
(27,100)
-
Nehemiah Fund
5,769
-
(5,769)
Youth restricted
6,500
-
(6,500)
Social Transformation fund
-
-
-
St Hild College
1,500
(1,500)
-
Campus redevelopment
-
-
-
Student Fund
-
-
-
Nursery Fund
17,041
-
(17,041)
57,910
(28,600)
(29,310)|**Total**
Unrestricted
funds general
Unrestricted
funds
designated
Restricted
funds
**2025**
2024
2024
2024
**£**
**£**
**£**
**£**
-
8,022
(5,622)
(2,400)
-
-
-
-
-
-
10,000
(10,000)
-
16,942
-
(16,942)
-
3,000
-
(3,000)
-
-
-
-
-
-
-
-
-
3,961
-
(3,961)
-
30,073
-
(30,073)
-
61,998
4,378
(66,376)|Total
2024
£
-
-
-
-
-
-
-
-
-| |---|---|---| |||-| The above transfers were made from Designated and Restricted funds to finance those particular activities undertaken by the Church. - 25 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ |**14**
**Tangible fixed assets**
**Crookes**
**Church Centre**
**Freehold land**
**and buildings**
**Leasehold**
**Parsonages**
**£**
**£**
**Deemed cost**
At 1 January 2025
870,367
493,000
At 31 December 2025
870,367
493,000
**Depreciation and impairment**
At 1 January 2025
52,221
18,000
Depreciation charged in the year
-
-
At 31 December 2025
52,221
18,000
**Carrying amount**
At 31 December 2025
818,146
475,000
At 31 December 2024
818,146
475,000
**Deemed cost breakdown**
Historical costs
Crookes Church Centre, Sheffield
30,000
-
41 Ryegate Road
-
83,910
2 Nairn Street, Sheffield
-
-
30,000
83,910
Additions
840,367
22,365
870,367
106,275
Revaluation increase
-
386,725
Deemed cost at 1 January 2025
870,367
493,000|**Long**
**Leasehold**
**Parsonage**
**Fixtures and**
**fittings**
**£**
**£**
235,200
159,823
235,200
159,823
10,200
154,726
-
3,821
10,200
158,547
225,000
1,276
225,000
5,097
-
-
83,333
83,333
5,755
89,088
146,112
235,200|**Total**
**£**
1,758,390| |---|---|---| |||1,758,390| |||235,147
3,821| |||238,968| |||1,519,422| |||1,523,243| |||30,000
83,910
83,333| |||197,243| |||868,487| |||1,065,730
532,837| |||1,598,567| - 26 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **14 Tangible fixed assets** **(Continued)** ## **Property details** a) St Thomas' Church is consecrated property and is excluded from the accounts in accordance with the provisions of Section 10 of the Charities Act 2011. b) Prior to the redevelopment which commenced in 2012, the historic cost of the Crookes Church Centre freehold property was £30,000. Since 1 January 2012, redevelopment costs of £840,367 have been capitalised. The Trustees elected to adopt the value of £870,367 as the deemed cost at 31 January 2014, the date of transition to SORP Financial Reporting Standard 102. The Crookes Centre is carried forward at this deemed cost at 31 December 2024. c) The leasehold property at 41 Ryegate Road, Sheffield is included in the accounts at a deemed cost of £493,000, following a revaluation on the 5 April 2024 by an independent firm of estate agents based upon current market values. The interest of Crookes Baptist Church in this property is held by the Yorkshire Baptist Association upon trust as to five eighths for Crookes Baptist Church and three eighths for the Anglican Parochial Church Council. d) The leasehold property at 2 Nairn Street, Crookes, Sheffield is included in the accounts at a deemed cost of £235,200, following a revaluation on the 21 February 2024 by an independent firm of estate agents based upon current market values. The property was financed by a fixed loan of £33,333, repayable over 15 years commencing April 2002 and a further £50,000 Value Linked Loan (VLL). Interest on the VLL was charged initially at 5% per annum (this figure was increased each January in line with the R.P.I. increase for the previous year), payable quarterly in arrears. No capital repayments are required for the VLL until the property is either sold or ceases to be occupied by a qualifying person. Repayment in full will require an amount equal to the Church Commissioners' equity sharing percentage (60%) of the market value of the property at the time the repayment is made. ## **15 Debtors** |**Debtors**||| |---|---|---| |**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2025**
**£**
1,503
18,461
2,429
22,393|**2024**
**£**
1,012
32,414
970| |||34,396| ## **16 Loans and overdrafts** |**Loans and overdrafts**||| |---|---|---| |Other loans
Payable after one year|**2025**
**£**
135,000
135,000|**2024**
**£**
135,000| |||135,000| - 27 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **17 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |**Notes**
Other taxation and social security
Deferred income
**19**
Trade creditors
Accruals|**2025**
**£**
8,704
1,390
6,833
13,259
30,186|**2024**
**£**
7,115
-
21,661
17,220| |||45,996| ## **18 Creditors: amounts falling due after more than one year** |||**2025**|**2024**| |---|---|---|---| |||**£**|**£**| |Borrowings|**16**|135,000|135,000| ## Value Linked Loan The Value Linked Loan (formerly equity sharing loan) is repayable only on the sale of the property to which the equity share interest relates. Details of the Value Linked Loan, which is secured on the following property, together with the proportion of any gains payable to the Church Commissioners, are as follows: |2 Nairn Street, Crookes, Sheffield-original loan
Church Commissioners' Equity Sharing percentage|**2025**
**£**
50,000
85,000
135,000|**2024**
**£**
50,000
85,000| |---|---|---| |||135,000| - 28 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ |**19**
**Deferred income**
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 January 2025
Resources deferred in the year
Deferred income at 31 December 2025|**2025**
**£**
1,390
**2025**
**£**
1,390
-
1,390
1,390|**2024**
**£**
-| |---|---|---| |||**2024**
**£**
-| |||-
-| |||-| Deferred income relates to monies received for youth and student events taking place in 2026. - 29 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **20 Unrestricted funds - designated** The Property Fund represents the following: (a) the current carrying values of the Church Centre and staff houses less the value of any mortgages on those properties, plus (b) the written down value of fixtures, fittings and equipment, less (c) the long term pension fund deficit liabilities that have been identified by the Baptist Pension Trust and the Church of England Pensions Board (which this year are now £Nil as the schemes are in surplus). The Eco Fund represents monies set aside for ecological projects. The Designated Contingency Fund holds monies set aside for specific purposes. The Barnabas Centre represents St Hild College which pays for rooms and facilities provided by the Church. Direct costs of hosting the Centre are charged to this fund, and room hire and any surpluses are transferred to the General Fund. The St John's Park Fund represents monies designated for this church. This fund has now all been transferred to St John's Park. |**At**
Property fund
Eco fund
Designated Contingency fund
St Hild College
St John's Park
**Previous year:**
**At**
Property fund
Eco fund
Designated Contingency fund
St Hild College
St John's Park|**1 January**
**2025**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
1,391,718
-
(3,821)
1,500
-
-
31,383
-
-
103
18,118
(16,386)
9,804
325
(10,129)
1,434,508
18,443
(30,336)
**1 January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
1,204,346
-
187,372
7,122
100
(100)
16,383
15,000
-
6
18,531
(18,434)
-
230
(426)
1,227,857
33,861
168,412|**Transfers**
**At 31**
**December**
**2025**
**£**
**£**
-
1,387,897
-
1,500
(27,100)
4,283
(1,500)
335
-
-
(28,600)
1,394,015
**Transfers**
**At 31**
**December**
**2024**
**£**
**£**
-
1,391,718
(5,622)
1,500
-
31,383
-
103
10,000
9,804
4,378
1,434,508| |---|---|---| - 30 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **21 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |**Balance at**
**1 January 2024**
**r**
**£**
Children - Clothes & toy sales
95
Christmas offerings
253
Eden Network
8,868
Foodbank
5,294
Higher Tour
1,498
Social transformation
982
Intern Missions
715
Students
3,961
Gifts to be forwarded
4,818
Youth
15,584
Nursery
23,439
Gift Day
11,989
Nehemiah Fund (Church planting)
89,463
All Nations Fir Vale
29,730
196,689|**Movement in funds**
**2024**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
-
-
2,152
(699)
13,706
(22,443)
2,180
(3,692)
-
-
75
-
-
-
-
-
6,996
(11,814)
-
(1,042)
138,063
(94,933)
-
(4,789)
19,724
(35,515)
22,085
(61,892)
204,981
(236,819)|**Transfers**
**Balance at**
**1 January 2025**
**r**
**£**
**£**
-
95
-
1,706
-
131
-
3,782
-
1,498
(600)
457
-
715
(3,961)
-
-
-
(14,542)
-
(30,073)
36,496
(7,200)
-
(19,996)
53,676
9,996
(81)
(66,376)
98,475|**Movement in funds**
**2025**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
-
-
2,903
(1,830)
(185)
54
1,996
(5,644)
-
-
-
(100)
-
-
-
-
6,660
(5,819)
8,000
-
130,422
(109,472)
-
-
25,531
-
605
(7,188)
175,932
(129,999)|**Transfers**
**Balance at**
**31 December**
**2025**
**£**
**£**
-
95
-
2,779
-
-
-
134
-
1,498
-
357
-
715
-
-
-
841
(6,500)
1,500
(17,041)
40,405
-
-
(12,433)
66,774
6,664
-
(29,310)
115,098|**Transfers**
**Balance at**
**31 December**
**2025**
**£**
**£**
-
95
-
2,779
-
-
-
134
-
1,498
-
357
-
715
-
-
-
841
(6,500)
1,500
(17,041)
40,405
-
-
(12,433)
66,774
6,664
-
(29,310)
115,098| |---|---|---|---|---|---| ||||||115,098| - 31 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **21 Restricted funds** **(Continued)** ## (i) **Nursery** The Church runs a nursery for children aged between three and four years. It is accredited and financially supported by Sheffield City Council. Some hours and extras are paid by parents. ## (ii) **Children - Clothes & Toy Sales** This fund is used to process money raised from 'Nearly New' sales of children's clothes and toys. Disbursal of this fund is authorised by the Operations Manager. ## (iii) **Christmas Offerings** The Church normally collects offerings into this fund over the Christmas period. ## (iv) **Eden Network** The Eden Network (www.eden-network.org) plants small Christian communities in needy areas in order to grow churches there. The salary and other costs of the Sheffield co-ordinator are met from this fund. Major funders in previous years provided a substantial reserve for running this fund. The disbursal of this fund is supervised by the Operations Manager and the Church’s Eden Team Leader. This fund has been transferred to All Nations Fir Vale. ## (v) **Foodbank** The Church runs a Foodbank in partnership with the Trussell Trust and Network Church Sheffield (NCS). Gifts received are mostly in the form of food and other consumables which are forwarded to the store run by NCS and then distributed in accordance with guidelines laid down by the Trussell Trust to needy people who have been referred by frontline care professionals. Monetary gifts are also received for administrative costs and purchase of food. The value of the gifts in kind is included in NCS’s income and expenditure and not in this report. ## (vi) **Higher Tour** This was a one-off youth mission event in 2019. Application has been made to the Charities Commission to use the remaining balance for church youth work. ## (vii) **Social Transformation** This fund supports ministries helping those in need, including foodbanks, debt advice etc. ## (viii) **Intern Missions (was STC College)** STC College provided one year discipleship courses and internships for young adults, typically aged between 18 and 24 years. All College fees and disbursals were processed through this restricted fund. Any surplus from this fund was transferred into the General Fund at the end of each academic year to be used towards the payroll costs of the College staff. The disbursal of the fund was supervised by the Operations Manager. The College has now been replaced by an Intern scheme which is funded from general funds rather than a Restricted fund. The remaining funds may be used for mission trips. ## (ix) **Students** This fund supports outreach amongst students at the two Sheffield Universities. The fund was extinguished during 2024. - 32 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **21 Restricted funds** **(Continued)** ## (x) **Gifts to be forwarded** Donors sometimes send gifts through the Church to be forwarded anonymously to beneficiaries. The Church also received gifts for designated missions or charities. These are all received under the heading “Gifts to be forwarded”. They are forwarded according to the donors’ wishes. Such gifts are not eligible for Gift Aid. ## (xi) **Youth** The Youth fund receives gifts to support the general youth work of the Church or other specific projects. The disbursal of the fund is supervised by the Operations Manager. ## (xii) **Gift Day/Nehemiah Fund** In 2021, the Gift Day launched the new Nehemiah Fund which was established to manage donations supporting church planting and grafting projects in the Sheffield area. Disbursal of this fund is supervised by the Operations Manager and Council of Trustees. ## (xiii) **All Nations Fir Vale (was Fir Vale Church Plant)** This fund was set up to hold monies donated specifically towards the church plant in Fir Vale, now known as All Nations Fir Vale. This fund has been transferred to All Nations Fir Vale. - 33 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **22 Unrestricted funds** These are unrestricted funds which are material to the Charity's activities. |**At 1**
General funds
**Previous year:**
**At 1**
General funds|**January**
**2025**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**At 31**
**December**
**2025**
**£**
**£**
**£**
**£**
**£**
32,848
679,550
(729,928)
57,910
40,380
**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
**£**
54,425
665,276
(748,851)
61,998
32,848| |---|---| - 34 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ |**23 Analysis of net assets between funds**
**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2025**
**2025**
**2025**
**£**
**£**
**£**
Fund balances at 31 December 2025 are
represented by:
Tangible assets
-
1,519,422
-
Current assets/(liabilities)
40,380
9,593
115,098
Long term liabilities
-
(135,000)
-
40,380
1,394,015
115,098|**Total Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
1,519,422
-
1,523,243
-
165,071
32,848
46,265
98,475
(135,000)
-
(135,000)
-
1,549,493
32,848
1,434,508
98,475|**Total**
**2024**
**£**
1,523,243
177,588
(135,000)
1,565,831| |---|---|---| - 35 - ## **ST THOMAS CROOKES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **24 Financial commitments, guarantees and contingent liabilities** ## Church Workers' Pension Fund (CWPF) The Church participates in the Pension Builder Classic section of the Church Workers Pension Fund (CWPF). The results of the latest PB Classic actuarial review at 31 December 2022 indicated that there was no longer a funding shortfall at that date. Section 75 of the Pensions Act 1995 introduced a requirement for employers leaving a pension scheme to fully fund their liabilities before they leave. This has the effect of imposing a debt (a 'Section 75 debt') on an employer leaving a defined benefit pension arrangement like CWPF. In respect of St Thomas Crookes, if a PB Classic Section 75 debt had become due at 31 December 2019, the estimated debt would have been £Nil plus expenses. ## Baptist Pension Scheme (BPS) The Church also participates in the Baptist Pension Scheme (BPS) which also no longer has a funding shortfall. The Church has been notified by BPS that if a Section 75 debt had become due at the latest valuation in September 2023, the estimated debt would have been £Nil. Therefore, there is longer a liability on either scheme. |**25**|**Cash generated from operations**||**2025**|**2024**| |---|---|---|---|---| ||||**£**|**£**| ||(Deficit)/surpus for the year||(16,338)|86,860| ||Adjustments for:|||| ||Investment income recognised in statement of financial activities||(7,682)|(11,896)| ||Depreciation and impairment of tangible fixed assets||3,821|7,890| ||Revaluation of property||-|(194,413)| ||Movements in working capital:|||| ||Decrease in debtors||12,003|51,424| ||(Decrease)/increase in creditors||(17,200)|7,986| ||Increase in deferred income||1,390|-| ||**Cash absorbed by operations**||(24,006)|(52,149)| |**26**|**Analysis of changes in net funds**|||| |||**At 1 January**|**Cash flows At**|**31 December**| |||**2025**||**2025**| |||**£**|**£**|**£**| ||Cash at bank and in hand|189,188|(16,324)|172,864| ||Loans falling due after more than one year|(135,000)|-|(135,000)| |||54,188|(16,324)|37,864| - 36 -