ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
## Springfield Church
(A company limited by guarantee) Charity registration number: 1141233 Company registration number: 07467597
Independent Examiners Ltd The Grain Store Hills Barns
Appledram Lane South Chichester West Sussex PO20 7EG
## **SPRINGFIELD CHURCH**
## **CONTENTS (CONTINUED)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 8|
|Independent Examiner's Report|9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes to the Financial Statements|12 to 27|
## **SPRINGFIELD CHURCH**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Trustees**
David Foulkes Catherine Brearley David Atkinson Gordon Ironside
**Secretary** David Foulkes **Charity Registration** 1141233 **Number Company Registration** 07467597 **Number**
The charity is incorporated in England. **Registered Office** 38 Stafford Road Wallington Surrey SM6 9AA **Independent Examiner** G W Schulz FCMA Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG **Bankers** The Co-Operative Bank Business Direct P O Box 250 WN8 6WT CAF Bank Limited 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ
Page 1
## **SPRINGFIELD CHURCH**
## **TRUSTEES' REPORT**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2025.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association. The charity is governed and managed by the trustees who are elected by the members. Current directors and trustees are shown on page 1. Typically the trustees are the incumbent, the wardens and the treasurer of Springfield Church. This differs from most Church of England parishes, where the trustees are usually made up of the entire Parochial Church Council.
The company was incorporated on 13 December 2010 and has operated as a guarantee company from 01 January 2011.
## _**Recruitment and appointment of trustees**_
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association.
## _**Organisational structure and decision-making policies**_
## _**Committees:**_
**Springfield Church Council (PCC)** - Members of the PCC are elected by the Annual General Meeting (AGM) in accordance with the Church Representation Rules. Church members are invited to nominate candidates for election to the Parochial Church Council. Instruction is given as to the nature of the role, and to relevant qualities.
The PCC carries out its aims and objectives through informal conversation, formal meetings, regular prayer and the work of various working groups. A draft agenda for each meeting is agreed between the Minister and the Standing Committee and members are invited to consider whether they wish to table other items.
The PCC met six times in 2025. Typically the Minister gives a report and an aspect of the core ministry and mission of the church is presented. In addition to the set business of governance, of finance, staffing and property, a large amount of business focussed on vision and strategy along with Safeguarding and Health and Safety.
The PCC has committed itself to appointing and financing a paid staff team, working alongside the clergy. An annual budget is presented to the PCC and once approved the majority of decisions relating to expenditure are delegated to the senior staff team with management accounts and financial updates being presented to the PCC each time they meet.
The staff team exists to develop the ministry of Springfield within parameters set by the PCC, and to motivate and guide congregational members in the development of their own ministries. As a result, many congregational members are actively involved in ministries within and outside Springfield Church.
Page 2
## **SPRINGFIELD CHURCH**
## **TRUSTEES' REPORT (CONTINUED)**
**Standing Committee** - the Standing Committee is required by law and has power to transact business between PCC meetings, subject to directions laid down by the PCC. It comprises the Clergy, Church Wardens, Treasurer, and up to two nominated PCC members. It has a delegated spending limit of £500 without reference to the PCC - although such payments would always be subsequently reported back to the PCC.
## **Objectives and activities**
## _**Objects and aims**_
The Parochial Church Council (PCC) of Springfield has the responsibility, together with the Pioneer Vicar, the Reverend David Steven Atkinson, to promote in the local community the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It is also responsible for the maintenance and development of the minister’s house. The PCC seeks to implement the Church's agreed vision statement: We believe our God-given vision is to thrive like a 'Spring Field'. Becoming communities: overflowing with abundant life, where everyone can belong and find hope in Jesus.
In order to achieve this objective, Springfield provides a number of services of public worship of various types to enable as many people as possible to worship. All are welcome to attend services. Springfield also engages in a range of missional and community-focused activities in and around Roundshaw and wider Wallington.
The church also looks to follow the biblical practice of tithing where members give generously to sustain the finances of the church.
## _**Public benefit**_
The Charity Commission in its Charities and Public Benefit Guidance requires that there are two principles to be met to show that the organisation's aims are for the public benefit. Firstly there must be an identifiable benefit. Secondly, the benefit must be to the public or a section of the public.
When planning the activities and in exercising their duties and powers in order to meet the stated objective of the charity for the year under review, the members of the PCC confirm they have had due regard to the guidance issued by the Charity Commission on public benefit and that they will continue to ensure each year that they will consider how the PCC continues to meet the public benefit objectives outlined in section 4 of the Charities Act 2011.
Springfield Church demonstrates a real public benefit through its faith, its vision, its current activities and its future plans, particularly through the ministries on Roundshaw Estate as outlined in the previous section.
Page 3
## **SPRINGFIELD CHURCH**
## **TRUSTEES' REPORT (CONTINUED)**
## **Achievements and performance**
## _**Review of activites**_
_“The LORD will guide you continually, giving you water when you are dry and restoring your strength. You will be like a well-watered garden, like an ever-flowing spring.” [Isaiah 58:11]_
During the past year Springfield has continued to grow in confidence and clarity around its calling as a Pioneer Church. Building on the refreshed vision and values articulated previously, the church has sought to live this out through deeper relationships, increased community presence, and intentional discipleship. The sense of being a community where people can belong and find hope in Jesus has continued to shape both Sunday gatherings and mid-week activities.
Springfield’s Sunday morning service remains central to community life, meeting at St Paul’s Roundshaw, with a strong emphasis on welcome extended to newcomers through personal invitation, walk-ins and connections made through mid-week initiatives. Our membership roll currently stands at 106 adult members.
Sunday teaching series over the year have included themes focused on Thriving in trying times (Colossians), spiritual formation, generosity, and living out our values of Courage, Compassion and Creativity in everyday life. We also used materials from Difference for a Sunday series, helping us navigate disagreement well as a church. Safeguarding has again been highlighted through a dedicated Sunday, reinforcing its importance across all areas of church life.
The evening gathering has continued in its current format of Communion & Contemplation, providing a reflective and prayerful space which is appreciated by regular attenders, typically welcoming around 20 adults each month. Alongside this, we have continued to develop a regular provision for youth and young adults, The Hearth, which is still finding its feet.
Mid-week small groups remain a key expression of doing life and faith together, with approximately 12 groups meeting across Roundshaw and wider Wallington. These groups continue to offer accessible spaces for prayer, bible study and mutual support. During the year, 1 baptism took place. In 2025, two new groups started - Stitching Together and a pop-up Group for Difference which has now continued (name pending).
Springfield’s commitment to being a blessing to the Roundshaw community has remained a defining feature of church life. Ongoing initiatives such as Meal & Meditation, Tea & Time, and other community-based gatherings have continued to provide places of belonging and encounter for local residents and families. Popcorn & Ponder has been a space for adults interested in exploring the person of Jesus and while attendance has been more sporadic this year due to life circumstances, attendees are really valuing the opportunity.
Page 4
## **SPRINGFIELD CHURCH**
## **TRUSTEES' REPORT (CONTINUED)**
Partnerships with local organisations remain strong, and the continued use of community facilities has enabled consistent engagement with families and individuals. CAP Life Skills and related support ministries have continued to serve those facing financial challenges, and Springfield volunteers remain actively involved in local foodbank provision and seasonal community events. We have also been involved in the Christmas and Summer Fairs run by Roundshaw Community Network and endorsed by our local MP.
Children’s and youth ministries have continued to adapt in response to leadership capacity and changing needs and the Sunday morning teams are developing well under new leadership. School partnerships, mentoring and assemblies have remained valued points of connection. IDK has provided safe and encouraging environments for teenagers to explore faith and friendships, with teams of volunteers supporting this work faithfully.
The Pastoral Team has continued to provide vital support to members and those connected to the church, offering prayer, visits and practical care. Volunteer involvement across Sunday services and ministry teams remains strong and continues to be a significant strength of the church community.
As previously mentioned in the report, the Diocese Investment Programme (DIP)funded project now has momentum as we have built an amazing team to be able to offer SPRING, our estates ministry partner programme to partner churches across South London using our Pioneering models. This funding both supports Springfield’s pioneering on Roundshaw as outlined above, and allows the church to impact wider Estates communities.
Work relating to governance arrangements and structures has continued where necessary, without material impact on the day-to-day life of the church.
Springfield remains committed to generous giving, continuing the practice of allocating at least 10% of unrestricted income to local and international mission partners. Seasonal collections of food, clothing and toiletries have again supported local charities and refugee centres, reflecting the church’s ongoing desire to bless the wider community.
## **Financial review**
Our total income for 2025 was £196,421 (2024: £205,435). There are a couple of factors that are needed to put this change into context. In 2024 we were renting a house for our minister from the Diocese and renting out our own property to tenants. In 2025 our own house is occupied by a clergyman and his family from another church and our minister is occupying another house owned by the Diocese. There is no exchange of money for this mutually beneficial arrangement. Rental income which was nearly £12,000 in 2024 is zero in 2025. Our Diocesan Investment Programme project has started now and we have received nearly £7,600 towards reimbursement of costs so far for this project. The staff are centrally employed by the Diocese, but early grant reclaim has been used to set up the new staff with office space, computers, phones etc.
As ever, Springfield members are generous when they can afford to be and we have been given several sizeable one-off gifts in addition to many people’s regular donations. Where it is possible we make a gift aid claim to HMRC to reclaim any tax paid on donations.
Page 5
## **SPRINGFIELD CHURCH**
## **TRUSTEES' REPORT (CONTINUED)**
We started the year hoping to conclude the recruitment of a new Children and Youth Pastor. The first round did not reveal the right person to us so after prayerful consideration the post was readvertised and eventually a super appointment was made with a start date in November. Volunteers in the church covered the gap in this ministry with great generosity and skill and the church’s admin officer also did some regular overtime for several months to plug gaps in the team. Expenditure for 2025 of £178,011 (2024: £221,170) shows a substantial reduction of expenditure, and was below budget because of the appointment of the Children and Youth Pastor late in the year, when this has been budgeted for from March. This has allowed us to create a designated reserve fund of £15,000 to support the full time salary of this new pastor role over an eighteen month period. The expenditure in 2024 had also been boosted by the spending of a mission-giving reserve fund. Our regular mission-giving is now on track to match 10% of our donated income. We also chose a new mission partner in 2025 and made a donation of £6,500 to the Croydon Refugee Day Centre to start a three year collaboration with that charity. There was a delay in making one of the planned mission-giving donations and so there has been a small temporary boost to the mission giving designated reserve fund. The change in housing arrangements for the minister reduced the rental income but also reduced the expenditure too in a balancing way.
The award of DIP funding for a five-year estates pioneering project allowed some flexibility in advertising posts – part-time church posts could be combined with part-time pioneering project posts if applicants wished. In the end we have recruited some great people into the DIP project team and work has started. The only church appointment has been a full-time position covering children and youth. Recruitment had to be done properly to attract the right people and just over £4,000 has been spent on various advertising types.
We repeated our pattern of a September look at what being in the Springfield family means in terms of BELONGing (Be a regular, Enter into prayer, Lend a hand, Offer an invite, Nourish your faith and Give what you can). The many ways to support the church were described, and people asked to consider what they could do. Regular givers were asked to consider their financial giving for the year ahead and the need for more income to build up the staff team again had the effect of generating some generous one-off gifts as well as many being able to increase their regular giving.
The budget for 2026 faces some pressures. Inflation is high especially in the charges for renting our accommodation for Sunday services and meetings. The rental charges for our main church rooms are going up by 85% (they were cheap before!) but hire charges at the Phoenix Centre are also rising above inflation.
We have set a modest budget deficit for 2026, but with the salary reserve fund we have created from the surplus in 2025 we have a cushion to be confident moving forward.
We remain excited about the work the Church is doing on the Roundshaw estate, and further growth in numbers at all of our activities should slowly build up the regular giving needed to sustain all of these activities (and new ones). The pioneering work on the estate will be funded by the Diocesan grant, but hopefully there could be a consequent boost to worshipping numbers at Springfield as we are based on the estate too.
Page 6
## **SPRINGFIELD CHURCH**
## **TRUSTEES' REPORT (CONTINUED)**
## **Reserves policy and going concern**
The trustees and PCC of Springfield Church have determined that we should hold reserves of at least 3 months of operational expenditure. Our overall finances have been stable at above this level and we continue to adopt the going concern basis in preparing financial statements.
## **Fundraising**
Donations from church members and gift aid reclaimed from HM Revenue and Customs are the principle sources of funding of the church, with some income from the Diocese of Southwark in the form of grants and contributions towards clergy housing costs. We do not use third party fundraisers or incur any fundraising expenditure.
## **Principle risks and uncertainties**
We have a designated reserve fund to protect the integrity of our house in the event of major repairs being necessary. It is of course insured against accidental damage or loss. We continue to monitor the finances carefully to identify risks to the financial stability of the church and to take action to mitigate any risks identified.
We adhere to Diocesan and national guidelines regarding safer recruitment, safeguarding, and health and safety policies and training for PCC members, staff and those volunteering with children and vulnerable adults. Financial risk is managed on a day to day basis by the Treasurer and the Finance Team who report to the PCC.
The PCC is required to formally review and record the risks and the action taken to mitigate these risks. Risks are flagged to and assessed by the PCC and recorded in the minutes. The Church is still reliant on one-off gifts to balance the budget in 2026 but there is a history of generous giving to support the vision of this pioneering church.
Page 7
## **SPRINGFIELD CHURCH**
## **TRUSTEES' REPORT (CONTINUED)**
## **Statement of Responsibilities**
The trustees (who are also the directors of Springfield Church for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Small companies provision statement**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on 2 April 2026 and signed on its behalf by:
## Gordon Ironside
......................................... Gordon Ironside Trustee
Page 8
## **SPRINGFIELD CHURCH**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPRINGFIELD CHURCH**
I report to the charity trustees on my examination of the accounts of Springfield Church for the year ended 31 December 2025.
## **Responsibilities and basis of report**
As the charity’s trustees of Springfield Church (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Springfield Church are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of Springfield Church as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... G W Schulz FCMA Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
2 April 2026
Page 9
## **SPRINGFIELD CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
3
185,345
Charitable activities
4
1,081
Investment income
5
672
Other income
6
223
Total income
187,321
**Expenditure on:**
Charitable activities
7
166,403
Total expenditure
166,403
Net
income/(expenditure)
20,918
Net movement in funds
20,918
**Reconciliation of funds**
Total funds brought
forward
215,349
Total funds carried
forward
15
236,267|**Restricted**
**funds**
**£**
9,100
-
-
-
9,100
11,608
11,608
(2,508)
(2,508)
7,159
4,651|**Total**
**2025**
**£**
194,445
1,081
672
223
196,421
178,011
178,011
18,410
18,410
222,508
240,918|**Total**
**2024**
**£**
191,619
887
1,142
11,787|
|---|---|---|---|
||||205,435|
||||221,170|
||||221,170|
||||(15,735)|
||||(15,735)
238,243|
||||222,508|
The notes on pages 12 to 27 form an integral part of these financial statements. Page 10
## **SPRINGFIELD CHURCH**
## **REGISTERED NUMBER: 07467597 BALANCE SHEET AS AT 31 DECEMBER 2025**
|**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
13
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
15|**2025**
**£**
152,500
152,500
13,520
79,719
93,239
(4,821)
88,418
240,918
4,651
236,267
240,918|**2024**
**£**
152,500|
|---|---|---|
|||152,500|
|||9,119
70,958|
|||80,077
(10,069)|
|||70,008|
|||222,508|
|||7,159
215,349|
|||222,508|
For the financial year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 10 to 27 were approved by the trustees, and authorised for issue on 2 April 2026 and signed on their behalf by:
## Gordon Ironside
......................................... Gordon Ironside Trustee
The notes on pages 12 to 27 form an integral part of these financial statements. Page 11
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1 Charity status**
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
## **Basis of preparation**
Springfield Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 12
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## _**Grant provisions**_
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 13
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **Depreciation and amortisation**
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. No depreciation is provided on freehold property as it is the PCC's policy to maintain these assets in a continual state of sound repair. The useful economic life of these assets is so long and residual values so high that any depreciation would not be material.
## **Asset class**
Freehold property
**Depreciation method and rate** Not depreciated
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Liabilities**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions**
The charity contributes to a scheme maintained by the Church of England Pensions Board. The scheme is a multi-employer scheme and is accounted for as a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
Page 14
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **Financial instruments**
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 15
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **3 Income from donations and legacies**
|**Unrestricted**
**funds**
**General**
**£**
Donations and legacies;
Donations
151,938
Gift aid reclaimed
33,408
Grants, including capital
grants;
Grants
(1)
185,345
**4 Income from charitable activities**
**Unrestricted**
**funds**
**General**
**£**
Income from events and
activities
1,081
**5 Investment income**
**Unrestricted**
**funds**
**General**
**£**
Interest receivable and
similar income;
Interest receivable on
bank deposits
672
**6 Other income**
**Unrestricted**
**funds**
**General**
**£**
Rental income
223|**Restricted**
**funds**
**£**
505
-
8,595
9,100
**Restricted**
**funds**
**£**
-
**Restricted**
**funds**
**£**
-
**Restricted**
**funds**
**£**
-|**Total**
**2025**
**£**
152,443
33,408
8,594
194,445
**Total**
**2025**
**£**
1,081
**Total**
**2025**
**£**
672
**Total**
**2025**
**£**
223|**Total**
**2024**
**£**
162,034
29,121
464|
|---|---|---|---|
||||191,619|
||||**Total**
**2024**
**£**
887|
||||**Total**
**2024**
**£**
1,142|
||||**Total**
**2024**
**£**
11,787|
Page 16
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **7 Expenditure on charitable activities**
|**Unrestricted**
**funds**
**Restricted**
**Note**
**Designated**
**£**
**General**
**£**
**funds**
**£**
Ministry: Diocesan quota
-
75,348
-
Ministry : Clergy house
expenses
-
3,354
-
Ministry: Clergy expenses
-
779
655
Church running expenses
-
7,177
-
Office rent & premises
costs
-
7,140
-
Office expenses
-
5,011
4,109
Children & youth
expenses
-
3,580
-
Education, training and
staff welfare
-
1,321
1,147
CAP courses
-
-
904
Church events
-
219
-
Midweek groups
-
444
-
Pastoral expenses
-
388
-
Staff expenses
-
248
99
Recruitment
-
2,710
1,292
Roundshaw Fair
-
-
799
Adult pioneering
789
11
75
Family pioneering
-
52
1,408
Youth pioneering
495
-
276
Helping hand fund
-
-
200
Gifts for staff leavers
-
15
505
Independent examination
-
1,380
-
Mission giving
8
-
16,950
139
Staff costs
10
-
38,992
-
1,284
165,119
11,608|**Total**
**2025**
**£**
75,348
3,354
1,434
7,177
7,140
9,120
3,580
2,468
904
219
444
388
347
4,002
799
875
1,460
771
200
520
1,380
17,089
38,992
178,011|**Total**
**2024**
**£**
73,200
17,934
956
8,268
7,040
5,614
3,822
1,360
2,472
153
277
447
742
325
273
572
763
1,050
890
2,440
1,320
37,120
54,132|
|---|---|---|
|||221,170|
Page 17
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **8 Mission giving**
|**Unrestricted**
**funds**
**Restricted**
**Total**
**General**
**£**
**funds**
**£**
**2025**
**£**
Grants to individuals
4,800
-
4,800
Grants to institutions
12,150
139
12,289
16,950
139
17,089
**Beneficiaries**
Chris and Veronica Padayachee - CMS
Operation Mobilisation for support of Abigail Steinsletten (nee Bowen)
Christians Against Poverty (Holy Trinity CAP Debt Centre)
Christians Against Poverty (CAP - HQ)
Croydon Refugee Day Centre
Evangelical Alliance
Jubilee+
Sutton Community Works
Sutton Schools Christian Workers Trust (SSCWT)
Sutton Womens' Refuge|**Total**
**2024**
**£**
7,943
29,177|
|---|---|
||37,120|
||**Amount**
**£**
3,600
1,200
1,500
1,000
6,500
150
500
1,000
1,500
139|
||17,089|
Page 18
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **9 Trustees remuneration and expenses**
The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2024: £nil). None of the charity trustees were paid for professional services supplied to the charity in the year (2024: £nil). As the Minister-in-Charge of Springfield Church, trustee David Atkinson works for Springfield Church but is not employed by them. He holds office with Common Tenure from the Diocese of Southwark in the Church of England. His salary and any benefits are paid by them and Springfield Church has no control over or involvement with them.
Out-of-pocket expenses of £727 (2024: £751) were reimbursed to 1 trustee (2024: 1). These expenses related to the trustee's work as an agent of the charity and were made up of contributions towards mobile and broadband costs, travel expenses, books and refreshment costs for meetings with staff and others, which needed to be held outside the church office.
No gifts were given to any trustee (2024: £50 to 1 trustee as a thank you when they stepped down from their roles).
There were donations of £18,548 received from 4 trustees (2024: £23,728 from 5 trustees). None of these donations had conditions attached which would, or might, require the charity to alter significantly the nature of its existing activities.
## **10 Staff costs**
The aggregate payroll costs were as follows:
|**10 Staff costs**
The aggregate payroll costs were as follows:|||
|---|---|---|
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension and life cover costs|**2025**
**£**
36,182
-
2,810
38,992|**2024**
**£**
48,821
1,342
3,969|
|||54,132|
The number of people employed by the charity during the year was as follows:
|Administrative and ministry roles (non-clergy)|**2025**
**No**
3|**2024**
**No**
4|
|---|---|---|
No employee received emoluments of more than £60,000 during the year.
The clergy are not employed by the church but by the Diocese who receive a contribution from the church called the Parish Support Fund which amounted to £75,348 during the year (2024 - £73,200).
Page 19
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **11 Tangible fixed assets**
|**Cost**
At 1 January 2025
At 31 December 2025
**Depreciation**
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024|**Land and**
**buildings**
**£**
152,500
152,500
-
152,500
152,500|**Total**
**£**
152,500|
|---|---|---|
|||152,500
-|
|||152,500|
|||152,500|
The church owns a 50% share in the vicarage at 49 Stanley Park Road. The other 50% is owned by Holy Trinity Church, Wallington. The amount above represents the cost of the property when it was acquired.
## **12 Debtors**
|Trade debtors
Prepayments
Accrued income
**13 Creditors: amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors
Accruals|**2025**
**£**
39
1,931
11,550
13,520
**2025**
**£**
1,215
588
468
2,550
4,821|**2024**
**£**
44
1,575
7,500|
|---|---|---|
|||9,119|
|||**2024**
**£**
6,462
396
298
2,913|
|||10,069|
Page 20
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **14 Pension and other schemes**
Springfield Church participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and 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 which 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 scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. 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 pensions costs charged to the SoFA in the year are the contributions payable (2025: £2,810, 2024: £3,969).
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 2025, the Board chose to grant a discretionary bonus of 6.7% 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 2006 service so that the pension increase was 2.7% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2024. 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.
Page 21
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
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 Builder Classic and/or Pension Builder 2014. You will see this information on your DBS statement which will be sent separately.
The next valuation is due as at 31 December 2025.
The legal structure of the scheme is such that if another employer fails, Springfield Church could become responsible for paying a share of that employer’s pension liabilities.
Page 22
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **15 Funds**
|**Unrestricted funds**
**_General_**
General funds
**_Designated_**
Roundshaw Pioneering
Grant
Mission fund
Clergy house repair
fund
Children and Youth
Pastor Salary fund
**Total unrestricted**
**funds**
**Restricted funds**
Magnify (DIP)
Leaving gifts
Sutton Women's Aid
Helping hand fund
Roundshaw Fair Fund
Fresh Expressions -
Roundshaw
Pioneer Pathway Fund
**Total funds**|**Balance**
**at 1**
**January**
**2025**
**£**
199,205
1,284
3,500
11,360
-
16,144
215,349
-
-
371
3,072
-
3,716
-
7,159
222,508|**Incoming**
**resources**
**£**
187,321
-
-
-
-
-
187,321
57
505
-
-
950
-
7,588
9,100
196,421|**Resources**
**expended**
**£**
(165,119)
(1,284)
-
-
-
(1,284)
(166,403)
(57)
(505)
(139)
(200)
(799)
(2,320)
(7,588)
(11,608)
(178,011)|**Transfers**
**£**
(16,865)
-
1,865
-
15,000
16,865
-
-
-
-
-
-
-
-
-
-|**Balance**
**at 31**
**December**
**2025**
**£**
204,542
-
5,365
11,360
15,000|
|---|---|---|---|---|---|
||||||31,725|
||||||236,267|
||||||-
-
232
2,872
151
1,396
-|
||||||4,651|
||||||240,918|
Page 23
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **Designated funds:**
**Roundshaw Pioneering Grant** - In November 2022 the church received a grant to support the Pioneering work of Springfield on Roundshaw. The grant of £10,000 was broken down into four parts: Adult, CAP (Christians Against Poverty), Families and Youth Fund and covers a range of planned missional activities. By the end of 2024 the allocations for Families and CAP had been fully spent, leaving a small balance to be spent on Adult and Youth pioneering work. This grant has been fully expended by the end of 2025.
**Mission Giving Fund** - Springfield Church commits to donating (or tithing) 10% of its unrestricted donation income to other causes. There was a small balance left from previous years and as Mission Giving expenditure of £16,950 was £1,865 below the target figure the designated reserve has grown to £5,365.
**Clergy House Repair Fund** - The clergy house owned by Springfield is becoming in increasing need of significant maintenance. At the end of 2024 the PCC agreed that it was necessary to set money aside for this on a continuing basis, so the sum of £11,000 was designated from general funds and the funds remaining in the Transition Fund at that time were added to it. In 2025 there have been some repairs to the plumbing at the clergy house but this has been covered within the unrestricted budget so the value of the Clergy House Repair Fund is unchanged at the end of 2025.
**Children and Youth Pastor Salary Fund** - This was fund has been created at the end of 2025 to hold some of the salary savings made in 2025 and to release them at the rate of £900 per month to support this post being a sustainable full-time appointment over the next 16 months.
## **Restricted funds:**
**Magnify Course Fund** - This is a DIP funded course. Roundshaw residents are being prepared to be local pioneering leaders. The course is led by one of our curates and expenses can be reclaimed from the Diocese.
**Leaving gifts (formerly referred to as ‘Donations for named parties’)** - This fund comprises donations made by members of the congregation as a contribution to leaving gifts for departing staff and is spent when the leaving gifts are purchased. Donations were collected during 2025 for one volunteer retiring from active roles and fully expended.
**Sutton Women’s Aid** - This represents funds raised at the Harvest Service (and in prior years by the Clay Jars Connect Group) for the benefit of Sutton Women’s Aid. These funds can be passed on to the organisation in the form of a donation, or may be used to purchase items for the benefit of the women’s refuge or its inhabitants.
**Helping Hand Fund** - This is a Vicar's discretionary fund to support people connected with local residents through the cost-of-living crisis. We have a written policy outlining criteria, donation limits per year and what constitutes a need.
Page 24
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
**49 SPR Rental Deposit** - In October 2022 the Clergy house became vacant and this is the deposit taken when the property was let during the interregnum. The current tenant left the property in June 2024 and the deposit was refunded in full.
**Roundshaw Fair Fund** - The London Borough of Sutton donated funds for the costs of putting up a community Christmas tree and having a Christmas fair in 2023. Those funds were fully spent by 2024, but we received a further grant from Sutton Council in 2025 to provide and decorate a tree at the 2025 Roundshaw Christmas Fair and a small balance remains.
**Fresh Expressions - Roundshaw** - At the end of 2023, Springfield received a restricted grant from the Diocese of Southwark to further support its pioneering work on the Roundshaw Estate in the areas of Families, Adults and CAP courses. This work overlaps with the Pioneer Pathway Project and some of our pioneering work in 2025 has been part funded from the Fresh Expressions Funds and from the Pioneer Pathway Fund. Only small balances remain in the Fresh Expressions Family and Fresh Expressions CAP categories.
Page 25
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
|**Unrestricted funds**
**_General_**
General funds
**_Designated_**
Roundshaw Pioneering
Grant
Clergy house repair
fund
Mission fund
Transition fund
**Total unrestricted**
**funds**
**Restricted funds**
Leaving gifts
Sutton Women's Aid
Pioneer Pathway Fund
Springers
Equipment Fund
Helping hand fund
49SPR Rental Deposit
Roundshaw Fair Fund
Fresh Expressions -
Roundshaw
**Total funds**|**Balance**
**at 1**
**January**
**2024**
**£**
209,159
3,987
-
13,653
-
17,640
226,799
535
201
-
21
-
3,962
500
225
6,000
11,444
238,243|**Incoming**
**resources**
**£**
201,967
-
-
-
-
-
201,967
1,905
290
464
50
759
-
-
-
-
3,468
205,435|**Resources**
**expended**
**£**
(185,927)
(2,703)
-
(16,723)
(8,064)
(27,490)
(213,417)
(2,440)
(120)
(464)
(71)
(759)
(890)
(500)
(225)
(2,284)
(7,753)
(221,170)|**Transfers**
**£**
(25,994)
-
11,360
6,570
8,064
25,994
-
-
-
-
-
-
-
-
-
-
-
-|**Balance**
**at 31**
**December**
**2024**
**£**
199,205
1,284
11,360
3,500
-|
|---|---|---|---|---|---|
||||||16,144|
||||||215,349|
||||||-
371
-
-
-
3,072
-
-
3,716|
||||||7,159|
||||||222,508|
Page 26
## **SPRINGFIELD CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)**
## **16 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
152,500
-
56,863
31,725
(4,821)
-
204,542
31,725
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
152,500
-
56,774
16,144
(10,069)
-
199,205
16,144|**Restricted**
**funds**
**£**
-
4,651
-
4,651
**Restricted**
**funds**
**£**
-
7,159
-
7,159|**Total funds**
**at 31**
**December**
**2025**
**£**
152,500
93,239
(4,821)|
|---|---|---|---|
||||240,918|
||||**Total funds**
**at 31**
**December**
**2024**
**£**
152,500
80,077
(10,069)|
||||222,508|
## **17 Commitments**
## **Commitments under operating lease**
The total amount of other financial commitments not provided in the financial statements was £1,635 (2024 - £2,390).
## **18 Related party transactions**
The spouse of 1 trustee (2024: 1) received reimbursement of £35 (2024: £217) for travel expenses relating to lay ministry training.
Page 27