## **Annual Report and Financial Statements of the Parochial Church Council**
**Accounts for the year ended 31 December 2025**
## **Vicar – Vacancy**
## **Curate – Rev’d Sarah Curl**
## **Bank:**
National Westminster Bank 153 High Street, Putney, London SW15 1RX
## **Examiner of Accounts:**
Mr Edul Avari 178 Twyford Road Harrow HA2 0FN
**Church address** Putney Park Lane Putney, London SW15 5HU
1
## **PCC Annual Accounts Report for 2025**
The PCC has the responsibility of working with the Vicar, to plan and implement the mission and ministry of the church. The mission statement of St Margaret’s Church is:
_Connect Reflect Grow_
## **Membership of the PCC**
## **Ex officio**
**Vicar** Rev’d Dr Brutus Green resigned on Jan 6[th] 2026 **Curate** Rev’d Sarah Curl **Lay Readers** Anne East and Sarah Cooper **Churchwardens** Tony Hawksley and John Roberts **Secretary** Mor Gartner **Treasurer.** Tony Hawksley
**Representatives on the Deanery Synod** Andrew Gairdner, Sarah Cooper, and Lydia Finney
## **Elected members**
Until 2026 Until 2027 Until 2028 Sue Mason Clare Atkins Geraldine Steward Sally Strahan Lydia Finney Astrit Muhaxheri Hilary Belden Johanna Sanchez de Mawkin Tolek Petch Elizabeth RenshawAmes Jonathan Crane
2
## **Financial review**
## **The PCC’s financial responsibilities**
As in all Church of England parishes the PCC must raise sufficient funds to maintain services in the church. The PCC does not own the church building or the grounds but is responsible for their upkeep, including insurance, repairs and decoration. The PCC is also responsible for the decoration of the vicarage.
The parish is asked to pay its share of the central costs of running the Church of England, which includes the salaries and pensions of the vicar as well as the central staff. This share is collected under the Parish Support Fund whereby each parish offers a pledge to the Diocese for its annual contribution.
## **Restricted and unrestricted funds**
The PCC collects and spends its money on either a restricted or unrestricted basis. A restricted gift is one given (and accepted) under a limitation on its use imposed by the donor.
There is also an external giving fund which is used to receive and disburse small gifts for specific purposes made during the year at the discretion of the Vicar.
The unrestricted funds are the Church House fund, and the general fund. The first of these arose when it was necessary to show the Church House on the balance sheet at the time it was first let commercially. The general fund is the daily working fund of the PCC, and it is freely available for all and any expenditure of the parish.
## **The accounts**
The accounts which follow this review comprise three elements: -
The statement of financial activities shows the donations received and income from investments, hall lettings and fees, together with the expenditure of that money under the various specified headings which the PCC is required to use. Both the income and outgoings are split between unrestricted and restricted funds.
The balance sheet lists the assets and liabilities of the parish.
The notes to the accounts give further detailed information as required by law.
3
## **Charity Status**
The Parochial Church Council of the Ecclesiastical Parish of St Margaret’s, Putney has been registered as a charity since 24[th ] August 2011, registered charity number: 1143534.
## **Risks**
The PCC is required to consider the risks it faces and the means to mitigate them. The main risks are damage to the buildings, injury to those on site, financial loss and lack of income.
The PCC maintains insurance cover for both property and liability risks. The buildings are inspected regularly by qualified surveyors.
As regards the financial risks, the cash assets are mostly deposited with Nat West Bank and the CCLA Investment Management Ltd, and the treasurer maintains checks to ensure that proper accounting is made of the money in the PCC’s control.
Income and expenditure require constant review and are dealt with in the following section. The PCC’s policy is, as far as possible, to achieve break-even results over the medium term. It aims to retain a cash balance of up to £100,000 and to make provision, when possible, for future repairs to the church and halls.
Commentary and the future
## EXECUTIVE SUMMARY
The main financial events during the year were:
1. As a result of the development of the Worth Parish Centre church and hall lettings income rose to £155,495 from £141,613 in 2024.
2. Stewardship income decreased to £68,501 from £71,711, in 2024. Gift Aid recoverable decreased to £20,820 from £29,922 in 2024. Gift Aid received in 2024 was high because it included some receipt in respect to 2023 which had been underestimated.
3. Our commitment to Parish Fairer Shares increased to £ 89,300 in 2025 (2024: £86,300)
4. A successful Gala event held in November 2025, raised £21,273. This financed repair to the church path and steps.
4
## **LOOKING AHEAD TO 2026**
- An operating deficit is expected in 2026, though the PCC will be seeking to reduce the deficit by:
- increasing rental income through more lettings and higher charges
- increasing stewardship income
- holding special events
- increasing Sunday collection income
- Similarly, the PCC is closely monitoring costs and is increasing the accountability of budget holders.
## **On behalf of the PCC 5 June 2026**
Tony Hawksley
(Churchwarden)
John Roberts (Churchwarden)
5
## Parochial Church Council of St Margaret, Putney Statement of Financial Activities
|Year ended 31st December|||||||
|---|---|---|---|---|---|---|
|2025|||||||
||Unrestricted||Restricted||Total 2025|Total 2024|
|||£||£|£|£|
||Notes||||||
|**Incoming Resources**|||||||
|Incoming resources from|||||||
|Generated Funds|||||||
|Voluntary Income|2a|138,674||10,477|149,151|150,284|
|Investment Income|2b|29,445||-|29,445|31,114|
|Incoming resources
charitable activities|2c|3,194||-|3,194|5,106|
|Hall Lettings||155,485||-|155,485|141,613|
|Total incoming resources||326,798||10,477|337,275|328,117|
|**Resources expended**||297,053||2,390|299,443|354,129|
|Net (outgoing), incoming||29,745||8,087|37,832|(26,012)|
|resources|||||||
|**Transfer between funds**||(18,000)||45,000|27,000|-|
|Surplus on Property|||||||
|Revaluation||-||-|-|45,000|
|**Balance brought forward**
**at 1stJanuary 2025**||244,625||32,228|276,853|257,865|
|Carried forward at|||||||
|31stDecember 2025|£|256,370|£|85,315|£ 341,685|£276,853|
6
## Parochial Church Council of St Margaret's Putney
|Balance Sheet
At 31st December 2025
Notes
FIXED ASSESTS
Fixed assets for charity use
1
CURRENT ASSETS
Debtors
4
Short term deposits
Cash at the bank and in hand
LIABILITIES
Amounts falling due within one-year
Creditors
5
NET CURRENT ASSETS
Total assets less current liabilities
Finance by:-
Unrestricted Funds
Restricted Funds
TOTAL FUNDS|2025
2024
£
£
210,000
210,000
23,736
29,152
21,000
21,000
98,367
64,981|
|---|---|
||£
143,103
£
115,133
(11,418)
(48,280)
131,685
66,853|
||**341,685**
**£**
**276,853**|
||256,370
244,625
85,315
32,228|
||£ 341,685
£
276,853|
A.T Hawksley John Roberts 5 June 2026
7
## **PAROCHIAL CHURCH COUNCIL OF ST MARGARET’S, PUTNEY**
## **NOTES TO THE ACCOUNTS For the year ended 31 December 2025**
## **1 Accounting policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, together with applicable accounting standards and the Charities SORP.
The financial statements have been prepared under the historical cost convention.
## **Funds**
Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of groups that are informal gatherings of Church members.
## **Incoming resources**
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under covenant or otherwise is recognised only when received. Income tax recoverable on gift aid donations is recognised when the income is recognised.
Funds raised by events or campaigns are accounted for gross. Sales of books and magazines are accounted for gross. Rental income from the letting of Church premises is recognised when the rental is due.
Interest is recognised when received.
## **Resources expended**
Grants and donations are accounted for when awarded.
The diocesan “Parish Support Fund" for each financial year is accounted in the year that it is payable.
8
## **Fixed assets**
Consecrated and beneficed land and property thereon is excluded from the accounts by s.96(2)(a) of the Charities Act 1993. The exception is where such property is used for commercial purposes. This became the case in 2000 with Church House and, thus, a fixed asset is included for this property. The general fund is the daily working fund of the PCC, and it is freely available for all and any expenditure of the parish.
Moveable church fittings and furnishings held by the Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the Church’s inventory, which can be inspected by application to the Churchwardens. The church hall is the only material operational asset.
For inalienable and operational assets acquired prior to 2000 there is insufficient cost information available and, therefore, such assets are not valued or included in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life (initially 4 years) on a straight-line basis. All such items are now written off.
All expenditure incurred on consecrated or beneficed buildings, and on individual items of inalienable and operational assets costing less than £2000, is written off in the year of expenditure.
## **Current assets**
Amounts owing to the PCC at 31 December are shown as debtors less provision for amounts that may prove uncollectable.
Short term deposits include cash held on deposit with the CBF Church of England Funds.
9
|**2 Incoming**
**resources**
**from**
**Generated**
**funds**
**2a Voluntary**
**income**
Stewardship
Income tax
recoverable
Cash
Collections
Legacy
Other donations
and Appeals
Gala Event
**2b Investment**
**Income**
Interest
Church House
Rent
**Incoming**
**resources -**
**charitable**
**activities**
**2c Fees**
**Events**
**To Generate**
**Funds**|Unrestricted FundsRestricted
Funds
£
£
Total 2025
£
Total
2024
£
10,477
10,477
6,345
68,501
20,820
68,501
20,820
71,711
29,922
7,943
7,943
8,466
350
19,787
350
19,787
4,144
20,032
21,273
21,273
9,664|
|---|---|
||£ 138,674
£ 138,674 £143,939
935
28,510
935
28,510
2,494
28,620|
||£29,445
£29,445
£31,114
1,798
1,798
3,130
1,396
1,396
1,976|
||£3,194
£3,194
£5,106|
10
|**Church Hall**||||||
|---|---|---|---|---|---|
|**Lettings**|£155,485||£155,485
£141,613|||
|||||||
|**Total incoming**||||||
|**resources**|£326,798|£ 10,477|£337,275 £328,117|||
|**3**
**Resources expended**||||||
||**Unrestricted**
**Restricted**|||**Total**||
||**Funds**|**Funds**||**2025**
**Total**|**2024**|
|||£|£|£
£||
|3a Charitable activities||||||
|Grants||||||
|Secular charities|||2,390|2,390|2,649|
|3b
the work of the||||||
|church||||||
|Diocesan Parish Support||||||
|Fund||89,300||89,300|86,300|
|Clergy expenses||8,820||8,820|5,588|
|Church running costs||33,403||33,403|39,209|
|Church hall running costs|
|21,577||21,577|18,007|
|Church House running||1,074||1,074
|2,601|
|costs||||||
|Upkeep of services||78,303||78,303|94,437|
|Bank charges||2,183||2,183|2,295|
|Repairs||30,873||30,873|-|
|Worth project cost||-||-|49,802|
|Contingent Liabilities||-||-|18,000|
|Other Charitable Activities|3c|||||
|Management and administration||31,520||31,520
|37,241|
|**Total resources**||||||
|**expended**|**£297,053**||**£2,390**
**£299,443**
**£354,129**|||
11
|**4**
**Debtors**
Income tax recoverable
Other debtors
**5**
**Creditors**
Other creditors
Contingent Liabilities||2025
2024
19,906 24,562
3,830
4,590|
|---|---|---|
|||**£23,736 £ 29,152**
4,418
15,280
7,000
34,000|
**£11,418 £ 48,280**
## **6 Fund details**
The unrestricted funds are the general fund, through which is passed normal church income and expenditure and a fund for the investment in Church House. The restricted funds are set aside for the donation’s specific purpose.
Movements on the funds during the year were: -
|**Balance at**|**Balance**
**at**|**Incoming**|**Resources**|**Balance**
**at**|
|---|---|---|---|---|
||**01.01.25**|**resources**|**expended Transfers**|**31.12.25**|
|**Unrestricted funds**|||||
|General|34,625|326,798|297,053 (18,000)|46,370|
|Church
House|210,000|||210,000|
|Restricted Fund|244,625|326,798|(297,053) (18,000)|256,370|
|External giving|||||
|Specific donations|32,228|10,477|(2,390) 45,000|85,315|
|**Total Funds**|**£276,853**|**£337,275**|**(£297,443) 27,000**|**£341,685**|
7
## **Staff costs and related party transactions**
No member of the PCC received remuneration from the church. During the year the PCC had five part time employees: the Parish Administrator, the Director of Music, who resigned on January 2026, two cleaners and the Verger, none of whom earned more than £50,000. The Director of Music is the former Vicar’s wife. Her salary was £9,880 per annum. She is also the Principal of Putney Music School which rents space from the PCC. The amount received in 2025 was £8,221. No out-of-pocket expenses have been reimbursed to PCC members. These church costs are analysed as follows.
Wages and Salaries
**2025 2024**
£79,609 £73,278
12
## **EXAMINER’S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE**
**PARISH OF ST MARGARET’S CHURCH PUTNEY this** report on the accounts of the PCC for the year ended 31 December 2025, which are set out on pages 6 to 12, is in respect of an examination carried out under Regulation 3(3) of the Church Accounting Regulations 2006 (‘the Regulations’) and s.43 of the Charities Act 2011 (‘the Act’).
## **Respective responsibilities of trustees and examiner**
As the members of the PCC, you are responsible for the preparation of the accounts; you consider that the audit requirement of Regulation 43(2) and section 43(2) of the Act do not apply. It is my responsibility to issue this report on those accounts in accordance with the terms of the Regulations.
## **Basis of examiner’s report**
My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145 (5)(6) of the Act and to be found in the Church guidance, 2006 edition. 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 I do not express an audit opinion on the view given by the accounts.
## **Examiner’s statement**
In connection with my examination, no matter has come to my attention:
- 1 which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with section 130 of the Act; and to prepare accounts which accord with the accounting records and comply with the requirements of the Act and the Regulations have not been met;
or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Signed: Eduliji J Avari B.Com. MAAT**
Name of the applicable listed body: Association of Accounting Technicians Relevant professional qualification or membership of the professional body: Accounting Technicians
On behalf of E J Avari & Co Ltd, 178 Twyford Road, Harrow, Middlesex HA2 0SN
Dated: 8[th] June 2026
13