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2024-12-31-accounts

THE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF

ST WILFRID, BOGNOR

FOR THE YEAR ENDED 31ST DECEMBER 2024

The Annual Report and Accounts of the Parochial Church Council of the Ecclesiastical Parish of St Wilfrid, Bognor

Saint Wilfrid Church, Ellasdale Road, Bognor Regis, West Sussex PO21 2SG. Registered charity 1142723

Incumbent: The Reverend Joel Mennie

Bankers: HSBC, 45 High Street, Bognor Regis, PO21 1RU

Independent Examiners: Independent Examiners Limited, Unit 2 the Broadbridge Business Centre Delling Lane, Bosham, West Sussex, PO18 8NF

1

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WILFRID, BOGNOR

CONTENTS
Pages 3 to 10 Trustees Annual Report
Page 11 Statement of Financial Activities
Page 12 Balance Sheet
Pages 13 to 24 Notes to the Financial Statements
Page 25 Independent Examiners Report

2

Trustees Report 2024

Our aims and purpose as a charity

The PCC has the responsibility of co-operating with the incumbent:

What we planned to do to achieve our charitable objectives

Our work in 2024 focussed on seeing people in Bognor Regis come to know Jesus, growing and diversifying our Church community and expanding the activities and initiatives that we undertake, that transforms society.

To fulfil our charitable objectives, we planned the following for 2024:

3

Public Benefit

In accordance with our duties as stated in section 17(5) of the Charities Act, we have considered the guidance provided by the Charity Commission in regard to public benefit. This public benefit is demonstrated through our activities as detailed below.

What we achieved and how we affected beneficiaries’ lives

Membership

The church electoral roll was 129 at 31[st ] December 2024.

Activities, Services, Groups and Events

The activities of the church centred around three primary themes:

  1. Evangelisation and introduction to the Christian Faith

  2. The Revitalisation of our Church community: Growing in understanding of identity, in diversity, depth of spirituality, community cohesion and number, across church services and related ministries, such as men’s ministry and Connect Groups

  3. Extend our reach out to the local community with acts of compassion and love

Below is merely a snapshot of life at Saint Wilfrid Church during 2024 and none of that mentioned below or that which has not been mentioned has been possible without the invaluable contribution and commitment of our members. Many of them have committed to regularly praying, giving financially and serving.

Evangelism

The Alpha Course has been our primary vehicle for evangelisation and communication of the Christian Faith to those not yet at the church. This was run in various formats and at various times of the week and at regular intervals throughout the year. Our organisation facilitated The Alpha in our own buildings and at Ford Prison.

Every event and group that we run includes content which is distinctively Christian. In WilfTots, this takes the form of biblical songs and stories. At Lighthouse, this includes a

4

clear thought for the day based on the bible, with the occasional Christian song. There is always the opportunity for prayer.

Services

Our midweek service has held strong with a consistent average attendance of 25 people. The provision of refreshments following this service has increased the sense of community.

Our 9.30am service which is traditional and liturgical in form attracts an average attendance of 35-40 people weekly, with numbers rising at various times and seasons. We saw particular growth amongst the 20-30s age bracket, the local Eastern European community and children.

The congregation benefitted from the purchase of a new sound system (a new induction loop is still required) and looked forward to improvements related to wider electrical and heating works scheduled for Spring 2025.

A noticeable observation from our 11.15am was that it grew younger in 2024. This has led to the development of a committed Children’s Team who offer the provision of Sunday Groups for ages 3-15.

Services at Christmas were especially busy, with the high numbers in attendance. Whilst less formal than previous years, there was a very positive response to the format of the services on offer and ‘Carols of the prom’ was a particular highlight.

Community Cohesion

Our Connect Groups lie at the heart of community membership and cohesion. In 2023, the number of groups available stayed slightly static, but the number of people attending regularly, increased.

The Men’s Weekend away was also a success, with a small group returning to Ashburnham Place and a schedule of Breakfasts and other social events planned for 2025.

A Women’s ministry was also established at the Church, leading to successful coffee mornings and Advent Wreath workshop. It is expected that this ministry will be expanded in 2025.

A group from our organisation attended the Focus festival together. The development of our Community Pitch allowed for increased social engagement with one another and the strengthening of our community.

The work of Safeguarding was highly intense in 2024, with several case files needing to be established and actioned, sometimes at once. This led to the re-structuring and strengthening of our Safeguarding Team. Professional relationships with external agencies have been effective to ensure protective and caring plans could be implemented swiftly.

5

Unfortunately, it has been harder to work alongside the Diocesan Safeguarding Teams and have we needed to lodge our concerns using the relevant protocols and channels.

Compassion and local engagement

Lighthouse Lunch remains integral to our church calendar and continues to provide an invaluable opportunity to engage with and help those locally who are experiencing deprivation of various forms.

The CAP Debt Centre has completed its second year of operating from Saint Wilfrid church, in partnership with five other local churches. Due to various political factors within the Partnership, a decision was made to operate independently from the other churches, while still welcoming their financial contributions. At the same time, the Debt Centre Manager chose to step down after many years of dedicated service to pursue new opportunities. It is anticipated that oversight of the CAP Debt Centre may move to another local Church in 2025.

WilfTots is one of the largest groups for toddlers and their parents/carers in this part of West Sussex. It is now established, not only as a place to play and sing, but as an essential point of community for those at a similar life stage. Through this ministry, many have now been sign-posted to other local agencies who have provided essential support. There are now between 40-50 people (children/parents/careers) in attendance. The impact of this group is felt at our Sunday services, where WilfTots Sunday now takes place.

Two further opportunities presented themselves in 2025. The first was the opportunity to have oversight of the Bognor Regis Foodbank, which required a governance rescue strategy to be implemented. This opportunity has drawn down on many of our people and time resources and has required much wisdom and courage. It has however, allowed for some very significant advantages to our organisation to be available in 2025.

The second opportunity was to work closely with The High Sheriff of West Sussex and other local charitable Senior Leaders and West Sussex County Council, to collaborate and complement one another’s initiatives and projects. As a key organisation in this work, Saint Wilfrid Church acted as the host of many ‘Community Conversation’ events which happened across the year. This work will continue in 2025 under the direction of the new High Sheriff. It was particularly encouraging to receive a commendation and certificate of recognition from the High Sheriff’s Office, for the work of social transformation that we undertake.

Key Personnel

Many people are involved in the operation of the activities of the church. Whilst, in accordance with the FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts, if it were, the figure would be a substantial one.

6

In 2024, we continued to benefit from the ministry of Rev. Fr. Keith Hodges (Associate Priest) and Rochelle Ellwood (Operations Manager) and Edwina Brown (Financial Assistant). We are also grateful for Rev. Dave Green who is our curate in training. We welcomed Gabriel Demko to the team as Worship Co-ordinator, and Jess Youngs as Vicar’s Assistant.

Fabric Maintenance

The quinquennial report was published at the end of 2019, which stated ‘The church remains in good order structurally and is in generally good condition inside and out’. Maintenance of the building is ongoing, and we are constantly having to repair aligned to our schedule of works, and in a responsive way. Recurring themes include responding to the wear and tear to the building caused by the coastal conditions and a heating system which is at the end of its efficient life.

2024 saw the formation and strengthening of a ‘Building’s Team’ who have responded to urgent matters and enabled significant momentum in planning for future buildings works. This has included the organising of the replacement of our heating and lighting system, scheduled for Spring 2025 and the redevelopment of our Church Hall.

Financial Review

Summary

The Accounts for 2024 (and the comparative figures for 2023) shown on the following pages have been prepared on the ‘accruals’ basis in line with the Guidance and Regulations issued by the Central Board of Finance of the Church of England dated August 2001. Investment performance was considered adequate in view of the performance of Stock Market investments during the past year.

Total church income of £257,821 was up 35.1%, £66,957 over 2023, £190,864. Total expenditure of £237,348 was up 19.6%, £38,923 over 2023, £198,425. The resultant income/expenditure surplus for 2024 was £20,473 compared to a deficit of £7,561 in 2023.

There was an unrealised net gain on investments in 2024 of £7,136 compared to a gain of £16,111 in 2023. The overall surplus allowing for unrealised gains in investments for 2024 was £27,609, compared to a surplus of £8,550 in 2023. Investments to the value of £75,000 were sold in 2024 to part-fund the initial stages of the new heating system in the Church auditorium.

Unrestricted planned giving, church collections and Gift Aid receipts totalled £126,202 compared to £98,222 in 2023, an increase of 28%, £27,980. The PCC did not receive any legacies in 2024; £9,094 was received in 2023.

At 31 December 2024, Cash reserves stood at £64,345 (£47,995 at 31 December 2023), General unrestricted funds (including investments) amounted to £288,761 (£252,281 in 2023) and restricted funds £36,759 (£45,630 in 2023).

7

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Sharing the ministry costs of the Diocese of Chichester

The largest expenditure of the PCC was the sum of £61,574 paid to the diocese for our share of all churches’ Parish Ministry Costs. This was a 76% contribution to the Parish Ministry Costs allocated to it.

The Parish Ministry Costs relates directly to the housing, support, stipend and pension costs of the clergy of this parish, training of new ordinands, a contribution to national church funds and shared costs of the Christian family throughout the whole diocese, including assistance towards the ministry and upkeep of churches less able to manage than ourselves.

In 2025, the church has pledged to maintain its current Parish Contribution figure.

Reserves Policy

Maintenance and repair of the Church building has historically been expensive and at times unpredictable, therefore holding sufficient reserves to cover such eventualities is a sensible precaution. Accordingly, it is PCC policy to maintain a balance on unrestricted funds which equates to at least 3 months unrestricted payments. This will be reviewed on an annual basis.

In addition, to cover known short-term obligations, it is PCC policy to maintain a balance on free (cash) reserves which equates to at least 2 months' worth of normal operating expenditure.

Structure, Governance and Management of the Charity

PCC Structure and Members

The Parochial Church Council (PCC) is registered with the Charity Commission as required by the Charities Act 2011. The Parochial Church Council of the Ecclesiastical Parish of St Wilfrid, Bognor was registered with the Charity Commission in England and Wales on 5 July 2011 - registered number 1142723. All charities are required to have 'governing documents' and in the case of churches within the Church of England these documents have been agreed as being the Parochial Church Councils (Powers) Measure 1956 as amended, which defines the principal function or purpose of the PCC as "promoting in the Ecclesiastical parish the whole mission of the Church" and the Church Representation

8

Rules (contained in Schedule 3 to the Synodical Government Measure 1969, as amended) which determine how the PCC operates.

During the year the following served as members of the Parochial Church Council:

EX OFFICIO MEMBERS

Incumbent: Revd Joel Mennie (Chairperson) Curate: Revd Dave Green Church Wardens: Mr Stephen Walden (Until May 2024) Mrs Joanne Hopkins (Until May 2024) Mr Dave Holden (From May 2024) Mrs Jayne Tudor-Price (From May 2024)

Deanery Synod Members:

Mrs Elaine Green (Until May 2024) Mr Malcolm Vernone (Until May 2024) Mrs Val Bond – Secretary (From May 2024) Mrs Jill Anderson (From May 2024) Mr Bryce Anderson (From May 2024)

ELECTED MEMBERS:

Mrs Louise Smith – Secretary (Secretary until May 2024, remained as member) Mr Keith Richards (Until May 2024) Miss Glenda Richards Mr Roger Hollingshead Mr Jim Bartlett Mr John Bond Mrs Jo Walden (Until May 2024) Mrs Lara Mills - Safeguarding Officer Mrs Susan Manning - Safeguarding Officer Mr Steve Tudor-Price – Treasurer Mr Jack Evitts (From May 2024) Mr Steve Walden (From May 2024)

Statement of responsibilities of the members of the PCC

The Members of the PCC are responsible for preparing the Members of the PCC' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Members of the PCC to prepare financial statements for each financial, which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Members of the PCC are required to:

9

The Members of the PCC are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Members of the PCC and signed on its behalf by the Reverend Joel Mennie (Chairperson):

Date: 1[st ] May 2025

10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH

OF ST WILFRID, BOGNOR

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

Notes
Income and endowments from:
Donations and Legacies
2a
Charitable Activities
2b
Investment Income
2c
Other Income
2d
TOTAL
Expenditure on:
Charitable Activities
3a
Raising Funds
3b
TOTAL
NET INCOME/(EXPENDITURE)
BEFORE INVESTMENTS
GAINS/(LOSSES)
Gains/(losses) on
5b
investments
NET INCOME/(EXPENDITURE)
Transfer Between Funds
10
Net movement in funds
Reconciliation of funds:
Total Funds Brought Forward
Total Funds Carried Forward		 Unrestricted
Designated
Endowment
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
Funds
2024
2023
£
£
£
£
£
£
126,202
-
-
100,134
226,336
168,206
14,279
-
-
4,967
19,246
15,858
7,277
-
-
-
7,277
6,800
-
4,962
-
-
-
4,962
-
152,720
-
-
105,101
257,821
190,864
166,648
-
-
69,771
236,419
197,434
113
-
-
816
929
991
166,761
-
-
70,587
237,348
198,425
(14,041)
-
-
34,514
20,473
(7,561)
7,136
-
-
-
7,136
16,111
(6,905)
-
-
34,514
27,609
8,550
43,385
-
-
(43,385)
-
-
36,480
-
-
(8,871)
27,609
8,550
252,281
-
-
45,630
297,911
289,361
288,761
-
-
36,759
325,520
297,911

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 13 to 24 form part of these financial statements.

11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WILFRID, BOGNOR

BALANCE SHEET AS AT 31ST DECEMBER 2024

Notes Unrestricted Designated Endowment Restricted **31-Dec-24 ** 31-Dec-23
Funds Funds Funds Funds Total Total
£ £ £ £ £ £
Fixed Assets
Tangible assets 5(a) 80,409 - - 18,116 98,525 26,751
Investment assets 5(b) 155,529 - - - 155,529 223,393
Current Assets
Debtors 6 12,424 - - 445 12,869 3,786
Cash at bank 7 46,147 - - 18,198 64,345 47,995
Total Current Assets 58,571 - - 18,643 77,214 51,781
Creditors:amounts 8 5,748 - - - 5,748 4,014
falling due within one year
NET CURRENT ASSETS 52,823 - - 18,643 71,466 47,767
TOTAL ASSETSless current liabilitie 288,761 - - 36,759 325,520 297,911
NET ASSETS 288,761 - - 36,759 325,520 297,911
Funds of the Charity
General Unrestricted Funds 288,761 - - - 288,761 252,281
Designated Funds 9 - - - - - -
Restricted Funds 10 - - - 36,759 36,759 45,630
Endowment Fund 11 - - - - - -
Total Funds 288,761 - - 36,759 325,520 297,911

Signed on behalf of the Trustees and PCC Members by:

Reverend Joel Mennie S J Tudor Price

Date 7 May 2025

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparation:

The accounts are prepared under the historical cost convention, in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Charities Act 2011, with the exception of the valuation of freehold land and buildings, which are stated at fair value as at 1st January 2015 and investment assets, which are shown at market value.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of Church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.

The charity meets the definition of a public benefit entity.

There are no material uncertainties about the charity's ability to continue in operation.

No changes to accounting estimates have occurred in the reporting period

No material prior year errors have been identified in the reporting period.

Funds

Restricted Funds represent (a) income which may be extended only on those restricted objects provided in the terms of the trust or the bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund.

Unrestricted Funds are general funds which can be used for PCC ordinary purposes.

Designated Funds are earmarked by the PCC for particular purposes but are nevertheless still unrestricted as the PCC can redesignate the funds if it wishes.

The Endowment Fund exists for the making of a contribution towards clergy stipends. The PCC receives no income.

Income recognition

Income is included in the Statement of Financial Activities (SOFA) when:

Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate are received. Legacies are accounted for when the PCC is legally entitled to the amounts due and the amounts can be estimated with sufficient accuracy. Grants are recognised on receipt, any unspent income received for a specific purpose is shown within the relevant fund on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Dividends and bank interest are accounted for when receivable. All other income is recognised when it is receivable. All incoming resources are accounted for gross.

13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

Government grants

The charity has not received government grants during the reporting period.

Donated Services and Facilities

Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the Trustees Annual Report. Volunteers are used in all aspects of the activities of the church, including serving, readings, prayers, offertory and collections, preparing and serving food and drink at church events, helping with providing hospitality to guests, assisting in the office and providing other supporting roles, including bookkeeping, accounting and reporting.

Investment gains and losses

All gains and losses are recognised in the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the PCC to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. The diocesan quota or parish share is accounted for when due. Although there is no legal obligation to pay outstanding Common Fund, it is the policy of the PCC to provide for unpaid amounts in these accounts. There were no such provisions at 31st December 2024 or 2023. All other expenditure is generally recognised when it is incurred and is accounted for gross.

Costs of church activities include grants made, governance costs and support costs.

Pensions

During 2024, up to three employees of the PCC were enrolled in a defined contribution workplace pension scheme. Employer’s pension contributions were £1,009 in 2024 (2023: £918).

Tax Status

As a charity, the PCC is exempt from paying income and corporation tax.

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 at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities and provisions

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

Fixed assets

All tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a straight line basis over their estimated useful lives. The rates applied per annum are as follows:

Hall furniture and fittings 10% per annum Church furniture, fittings and equipment 10-20% per annum Computer equipment 20% per annum

Investment assets

Investments are initially recognised at their transaction value and subsequently measured at fair value at the balance sheet date using market prices. The Statement of Financial Activities includes net gains and losses arising on revaluations and disposals throughout the year. The PCC does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the PCC is that of volatility in markets due to economic conditions, the attitude of investors to investment risk, and changes in sentiment.

15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH

OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST DECEMBER 2024

2. INCOME FROM:
Notes
a) Donations and Legacies
Congregational giving
Planned giving
Gift aid tax recoverable
Special project appeal
Donations and Appeals
Legacies
Grants
b) Charitable Activities
Church Fees
Church Hall Income
Church Products and Courses
Events and Activities
Fees from Foodbank
Other Income
Mens Ministry
Womens Ministry
c) Investments
Dividends and Bank Interest
d) Other Income
Insurance Claims		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
421
-
-
421
911
77,415
-
1,000
78,415
68,431
21,224
-
551
21,775
16,030
-
-
-
-
37
27,142
-
62,411
89,553
37,195
-
-
-
-
9,094
-
-
36,172
36,172
36,508
126,202
-
100,134
226,336
168,206
2,604
-
-
2,604
2,541
8,971
-
-
8,971
10,965
220
-
-
220
-
-
-
2,840
2,840
2,280
-
-
2,127
2,127
-
-
-
-
-
72
2,194
-
-
2,194
-
290
-
-
290
-
14,279
-
4,967
19,246
15,858
7,277
-
-
7,277
6,800
7,277
-
-
7,277
6,800
4,962
-
-
4,962
-
4,962
-
-
4,962
-

16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH

OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

3. EXPENDITURE ON:

Notes
a) Charitable Activities
Direct costs
Card fees
Church hall running costs
Church maintenance
Church running expenses
Community initiatives
Depreciation of Fixed Assets
5(a)
Governance costs
Incumbents working expenses
Office costs
Other ministry costs
Parish contribution to Diocese
Presents and gratuities
Printing costs
Projects and quinquennial costs
Salaries
13(a)
Upkeep of church grounds
Upkeep of services
Vicarage running costs
Visiting clergy costs
TOTAL
Notes
b) Raising Funds
Advertising		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
2,237
-
-
2,237
1,286
13,713
-
211
13,924
10,168
24,363
-
316
24,679
3,464
15,802
-
-
15,802
11,919
-
-
-
-
-
468
-
9,180
9,648
7,238
2,352
-
-
2,352
2,363
898
-
-
898
834
6,286
-
-
6,286
6,413
7,670
-
13,852
21,522
18,932
61,574
-
-
61,574
61,574
268
-
-
268
103
179
-
-
179
247
540
-
-
540
-
15,489
-
46,202
61,691
61,658
1,800
-
-
1,800
1,800
7,455
-
10
7,465
4,463
4,722
-
-
4,722
4,334
832
-
-
832
638
166,648
-
69,771
236,419
197,434
Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
113
-
816
929
991
113
-
816
929
991

17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH

OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

4. DETAILS OF CERTAIN TYPES OF EXPENDITURE

4. DETAILS OF CERTAIN TYPES OF EXPENDITURE
2024 2023
£ £
Independent examiner’s fees 1,260 1,200
Assurance services other than audit or independent examination - -
Tax advisory fees - -
Other fees (payroll and accountancy services) 516 372

5 (a). TANGIBLE FIXED ASSETS

Cost 1-Jan-24
Additions
Transfers
Cost at 31-Dec-24
Depreciation 1-Jan-24
Charge
Depreciation 31-Dec-24
Net book value 31-Dec-24
Net book value 31-Dec-23		 Restricted
Restricted
Restricted
Unrestricted Unrestricted
Total
fund
fund
fund
fund
fund
£
£
£
£
£
£
Hall
Church
Church
Furniture,
Furniture,
Computer
Computer
Furniture,
Fittings &
Fittings &
Equipment
Equipment
Fittings &
Equipment
Equipment
Equipment
6,812
54,425
18,846
1,594
-
81,677
863
43,385
-
-
37,174
81,422
-
(43,385)
-
-
43,385
-
7,675
54,425
18,846
1,594
80,559
163,099
4,583
33,504
15,563
1,276
-
54,926
315
7,262
1,603
318
150
9,648
4,898
40,766
17,166
1,594
150
64,574
2,777
13,659
1,680
-
80,409
98,525
2,229
20,921
3,283
318
-
26,751

During 2024, the PCC purchased a new heating system, which was installed in the first half of 2025. The depreciation on these assets will commence upon installation which is when they first become available for their intended use, and are in the location and condition necessary for them to operate.

The transfer of £43,385 shown above reflects the fact that the terms of the restriction were fulfilled upon purchase of the asset, allowing it be used for any unrestricted charitable purpose

The annual commitments under non-cancelling operating leases and capital commitments for the next financial year are as follows:

Photocopier leasing costs £421 per quarter from February 2023.

18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

5 (b). INVESTMENT ASSETS

Cost 1-Jan-24
Revaluation
Additions
Disposals
Transfers Out
Cost at 31-Dec-24
Cost 1-Jan-24
Revaluation
Additions
Disposals
Transfers In
Cost at 31-Dec-24		 Unrestricted
Unrestricted
Unrestricted Unrestricted Unrestricted
(general)
(general)
(general)
(general)
(general)
fund
fund
fund
fund
fund
£
£
£
£
£
CBF
CBF
CBF
CBF
CBF
Fixed
Fixed
Fixed
Global
Property
Interest
Interest
Interest
Equity
Fund
Church Hall
Ministry
PCC
PCC
PCC
Fund
Account
Funds
Funds
Funds
12,919
14,235
22,144
40,065
21,253
390
430
668
2,533
(257)
-
-
-
-
-
-
-
-
(15,000)
-
-
-
-
-
(20,996)
13,309
14,665
22,812
27,598
-
Unrestricted
Unrestricted
TOTALS
(general)
(general)
31-Dec-24
fund
fund
£
£
£
CBF
CBF
Investment
Investment
Fund
Fund
PCC
General
Funds
Purposes
33,722
79,055
223,393
915
2,457
7,136
-
-
-
-
(60,000)
(75,000)
20,996
-
-
55,633
21,512
155,529

Listed investments

All listed investments are carried at their fair value and represent holdings in common investment funds. The basis of fair value is equivalent to market value. Asset sales and purchases are recognised at the date of trade at the transaction value. The main risk to the PCC from listed investments lies in the combination of uncertain investment markets and volatility in yield. Liquidity risk is deemed to be low as all assets are traded in markets with good liquidity and high trading volumes. The PCC has no investment holdings in markets subject to exchange controls or trading restrictions. The PCC manages its investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges. The PCC does not make use of derivatives and similar complex financial instruments.

19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH

OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

6. DEBTORS AND PREPAYMENTS

Accounts Receivable
Accrued Income
Gift Aid Tax Recoverable
HMRC PAYE and NI credit balance
7. CASH AT BANK AND IN HAND
Cash at Bank		 Unrestricted
Designated
Endowment
Restricted
Total
Total
Fund
Fund
Fund
Fund
31-Dec-24 31-Dec-23
£
£
£
£
£
£
1,269
-
-
-
1,269
236
5,459
-
-
210
5,669
-
5,696
-
-
235
5,931
3,264
-
-
-
-
-
286
12,424
-
-
445
12,869
3,786
Unrestricted
Designated
Endowment
Restricted
Total
Total
Fund
Fund
Fund
Fund
31-Dec-24 31-Dec-23
£
£
£
£
£
£
46,147
-
-
18,198
64,345
47,995
46,147
-
-
18,198
64,345
47,995

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accounts Payable
Accruals and Deferred Income
Independent Examiners Fees
Employer Pension Contributions		 Unrestricted
Designated
Endowment
Restricted
Total
Total
Fund
Fund
Fund
Fund
31-Dec-24 31-Dec-23
£
£
£
£
£
£
1,300
-
-
-
1,300
772
2,949
-
-
-
2,949
1,907
1,260
-
-
-
1,260
1,200
239
-
-
-
239
135
5,748
-
-
-
5,748
4,014

9. DESIGNATED FUNDS

The PCC did not hold any designated funds during this or the previous financial year.

20

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

10. RESTRICTED FUNDS

Apostolic Partnership
Love Your Neighbour
CAP
Church Heating Fund
Bognor Regis Foodbank
Apostolic Partnership
Love Your Neighbour
CAP		 Balance
Gains and
Balance
01-Jan-24
Losses
Income
Expenditure
Transfers
31-Dec-24
£
£
£
£
£
£
28,430
-
39,011
(48,543)
-
18,898
3,744
-
-
(211)
-
3,533
13,456
-
20,578
(19,706)
-
14,328
-
-
43,385
-
(43,385)
-
-
-
2,127
(2,127)
-
-
45,630
-
105,101
(70,587)
(43,385)
36,759
Balance
Gains and
Balance
01-Jan-23
Losses
Income
Expenditure
Transfers
31-Dec-23
£
£
£
£
£
£
36,834
-
40,168
(48,572)
-
28,430
3,744
-
-
-
-
3,744
10,492
-
22,682
(19,718)
-
13,456
51,070
-
62,850
(68,290)
-
45,630
CURRENT YEAR
PREVIOUS YEAR

The restricted funds represents donations made for specific purposes monitored by the PCC to ensure that only relevant expenditure is charged against the fund.

The Apostolic Partnership Fund : was set up in 2020 to capture the transactions relating to a 3-way partnership between the St Wilfrid PCC, the local Diocese and Holy Trinity Brompton (HTB) with the aim of transforming the local church and the wider community. Funds have been provided by each partner to help this happen. The PCC has/will provide £50k, HTB (via St Peter's church in Brighton) has given £50k and the Diocese has/will give £150k. Funds will be provided over a 3 year period from 2020 onwards. Most of the funds are used to cover staff salary costs. The HTB funds were used in 2021 mainly to purchase a sound system for the church.

The Love Your Neighbour Fund : The Love Your Neighbour Project was also set up in 2020 as a response to the Covid pandemic. It was funded by church members plus two HTB grants (aka the Church Revitalisation Trust). It provides on-going financial support to people in need in the local community (for example through food supplies).

The CAP Fund : This relates to a Christians Against Poverty (Cap) Debt Centre which was set up towards the end of 2022. It operates from the existing Church building with one new staff member recruited to head this up. Key funding has been received from 5 other local Churches as well as from the Saint Wilfrid congregation.

The Church Heating Fund: is a fund to cover the costs of replacing the existing warm air heating system in the church auditorium. It involves replacing the old gas boiler with eco-friendly Infra Red heaters and upgrading the power supply to accommodate the new heaters. The transfer of £43,385 represents the fact that of the fixed assets purchased in 2024, a portion of these assets were paid for via restricted funds. The terms of the restriction were fulfilled upon the purchase of the assets, enabling them to be transferred to the general fund to be used for unrestricted charitable purposes.

The Bognor Regis Foodbank Fund: covers donations that the Church has received from members of the public or congregation on behalf of the Foodbank which are then passed onto the Foodbank.

The restricted funds are wholly represented by cash reserves, current liabilities and marketable securities of the charity as detailed below:

Tangible Fixed Assets
Cash at bank and in hand
Current assets		 31-Dec-24
31-Dec-23
£
£
18,116
26,433
18,198
19,070
445
127
36,759
45,630

21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

11. ENDOWMENT FUNDS

The PCC did not hold any endowment funds in 2024.

12. RECONCILIATION OF FUNDS HELD AND MOVEMENT OF FUNDS

General Funds
Designated Funds
Endowment Funds
Restricted Funds
General Funds
Designated Funds
Endowment Funds
Restricted Funds		 Balance
Balance
01-Jan-24
Income
Gain/Loss
Expenditure
Transfers
31-Dec-24
£
£
£
£
£
£
252,281
152,720
7,136
(166,761)
43,385
288,761
-
-
-
-
-
-
-
-
-
-
-
-
45,630
105,101
-
(70,587)
(43,385)
36,759
297,911
257,821
7,136
(237,348)
-
325,520
Balance
Balance
01-Jan-23
Income
Gain/Loss
Expenditure
Transfers
31-Dec-23
£
£
£
£
£
£
238,291
128,014
16,111
(130,135)
-
252,281
-
-
-
-
-
-
-
-
-
-
-
-
51,070
62,850
-
(68,290)
-
45,630
289,361
190,865
16,111
(198,425)
-
297,911
CURRENT PERIOD
PREVIOUS PERIOD

22

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH

OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

13. STAFF COSTS, PAYMENTS TO TRUSTEES AND KEY MANAGEMENT PERSONNEL

(a) Employees paid via Payroll:

Gross Wages and Salaries
Employers NI (net of annual allowance)
Employers Pension Contributions
Staff who were engaged in each of the following activities (average numbers):
Activities in furtherance of organisation's objects		 31-Dec-24 31-Dec-23
£
£
60,682
60,740
-
-
1,009
918
61,691
61,658
31-Dec-24 31-Dec-23
TOTAL
TOTAL
5.75
5.75

Employed staff are paid via through a payroll scheme operated by the PCC. No employees received emoluments in excess of £60,000 (2023: None).

(c) Key Management Personnel

The charity's key management personnel is considered to be the Trustees. No remuneration was paid to Trustees. Therefore the total amount paid to key management personnel (including employers national insurance and employers pension contributions) was £0.

(d) Transactions with PCC members and Trustees

The only other payments made to PCC members or any persons connected with them were reimbursements for purchases of equipment, furnishings, refreshments and materials made on behalf of the Church. No material transaction took place between the charity and a PCC Member or any person connected with them (2023: None).

The aggregate total amount of donations received from Trustees is as follows:

Total donations before Gift Aid
Gift Aid on above donations
Total donations + Gift Aid		 2024
2023
£
£
28,391
16,997
6,827 3,301
35,218
20,298

There were no conditions attached to these donations.

(e) Transactions with Related Parties

There were no transactions with related parties that require disclosure.

23

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST WILFRID, BOGNOR

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

14. MATERIAL LEGACIES

No legacies were received or expected in 2024.

15. RESERVES POLICY AND RISK ASSESSMENT

Reserves are unrestricted funds which the PCC has set aside for the future. The purpose of holding reserves is so that St Wilfrid's is able to continue to meet its financial obligations in a situation where unforeseen shortfalls arise, until alternative plans can be put in place.

The PCC has identified the key risks and assessed the amounts prudent to set against those risks. The Reserves policy is set out in the Trustees Annual Report.

16. PUBLIC BENEFIT

The PCC acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how this has been achieved this are provided in the Trustees Annual Report. The PCC Members confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

17. EVENTS AFTER THE END OF THE REPORTING PERIOD

There are no events that require disclosure.

24

INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS

I report on the accounts of the Parochial Church Council of The Ecclesiastical Parish of St Wilfrid, Bognor for the year ended 31st December 2024, which are set out on pages 11 to 24.

Respective responsibilities of the PCC and the examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with the General Directions given by the Charity Commission and to be found in the Church Guidance, 2006 edition, issued from the Finance Division of the Archbishops' Council. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a Fellow Member of the Association of Charity Independent Examiners.

In connection with my examination, no matter has come to my attention:

Signed: J Irvinesmith Date: 08-May-25 Relevant professional qualification or body: FCIE

Address: Independent Examiners Limited, Unit 2 Broadbridge Business Centre, Delling Lane, Bosham, PO18 8NF

25