Charity registration number 1145027 (England and Walès)
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN. OXFORD
ST. MARY MAGDALEN CHURCH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
The Revd Dr Peter Groves
Dr M Schrecker
Ms G Hamnett
Miss Joyce Day
Mr Charl Engela
Mr G D Jones
Miss Susan Purver
Mrs D Vorhies
Mr A Wallers
The Revd Dr M Marshall
Dr V West-Harling
Mr H Jestico
Dr R Saunders
Mrs F Taylor
Ms N Rucker
Charity number (England and Wales)
1145027
Independent examlner
Gravits Audit Oxford LLP
First Floor. Park Central
4041 Park End Street
Oxford
OX1 1JD
Bankers
Barclays Bank plc
54 Commarket Street
Oxford
OX13HS

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
CONTENTS
Paga
Trustees, report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
10-24

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Reference and administrative information
The Trustees present their annual report and financial ststements for the year ended 31 December 2024.
The PCC is a charity. registered wilh the Charity Commission on 13 December 2011- its registered charity number is
1145027.
The address of the parish church is Magdalen Street, Oxford. OX1 3AE. The address of the church office is 15
Beaumont Street. Oxford, OX12NA
The trustees. members of the PCC, at the lime of this report, are as follows:
Name
Basls of Appointment
The Revd Dr Peter Groves
The Revd Dr Melanie Marshall
Vicar
Associate Prfest
Ex orricio
Ex Officio
Mrs Deborah Vorhies
Mr Charl Engela
Churchwarden
Churchwarden
Ex Officio
Ex Officio
Dr Matthew Schrecker
Ms Gillian Hamnett
Dr Veronica West-Harling
Deanery Synod Representative
Deanery Synod Representative
Deanery Synod Representative
Ex Officio
Ex Officio
Ex Officio
Ms M. CooperAckerly (from 21 Apnl 2024)
Mr ChristopherAdams (fmm 21 April 2024)
Miss Joyce Day
Mr Henry Jestico
Mr Gareth Jones
Miss Susan Purver
Ms Nancy-Jane Rucker
Dr Robert Saunders
Mrs Fleur Taylor
Mr Ashley Walters
Dr Veronica West-Harling
Elected
Elected
Elected
Elected
Elected
Elected
Elected
Elected
Elected
Elected
Elected
During the year the following retired from the PCC..
Mr Nigel Titnms
Mr William Dawes
Dr Georgina Paul
The Revd Esther Brazil (untilAugust 2024)
The Revd Lucie Spiers (until May 2024)
Ex Officio
Elected
Ex Officio
Ex Officio
Assistant Curate
Assistant Curate
Prin￿paI advisers..
Bankers.. Barclays Bank PLC. Cornmarket Oxford
Insurance Broker: Mathews Comfort & Co Ltd. 6 St Aldates, Oxford
Independent Examiners.. Gravita Audit Oxford LLP. First Floor Park Central, 4041 P8rk End Street. Oxford

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The financial statements have been prepared in accordance with the accounting policies set out in noto 1 to the
financial statements and comply with the Charity's governing document, the Charities Act 2011, FRS 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 IFRS 102)"
Objectives and activities
The objectives of the PCC are defined by the Parochial Church Council (Powers) Measure 1956 as 'to co-operate wtth
the minister in promoting in the parish the whole mission of Ihe Church, pastoral. evangelistic, social and ecumenical,.
The charily trustees have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to
guidance published by the Charity Commission. In planning and carrying out its activities the PCC has considered
Charity Commission guidance on public benefit. together with specific guidance on charities for the advancement of
religion.
In particular, the following activities give rise to public benefit.. regular public worship., the provision of sacred space for
personal prayer and contemplation. pastoral work., teaching Christianity- promotion of Christianity,. supporting other
charities in the UK and overseas.
There are 144 members on the Electoral Roll. of whom 5 live in the parish.
The PCC met six times during the year. Risk assessments and protection policies were reviewed and confirmed.
Strategies for financial giving were discussed and put in place. Reports from the Deanery Synod of Oxford, and from
Churches Together in Central Oxford, were discussed. The Maintenan￿ and fabric of the building continued to be a
significant item of council business. A project to restore the churchyard has been taken forward by a group of
volunteers, reporting to the PGC. The 950th anniversary of our foundation in 1074 was celebrated in October with
considerable success. Preachers included the Rt Revd Lord Williams of Oysterfflouth. The world premiere of the newly
commissioned "Mass of St Mary Magdalen Oxford" by Cecilia MacDowall took place at the High Mass for the Dedication
Festival.
In November 2024 the Vicar announced his intention to resign the Living the following summer. and the PCC has begun
informal preparation for the upcoming vacancy and for the appointment process.
A part time Parish Administrator supports the parish's ministry by fulfilling various administrative tasks. in particular the
preparation and publication of notices and liturgical material. the management of bookings for con￿rtS and events and
the supervision of the building when in use by visiting groups or performers.
During the year the following priests assisted regularly with the services on an honorary basis.. Mthr Judith Brown, Fr
Barry Hammett. Fr Martin Henig, Fr Nathan Mulcock, Fr Phillip Nixon, Mthr Mel Marshall. Fr Hugh Wybrew. The PCC is
grateful lo them for their assistanGe.
The Oxford University Society of Change Ringers continued to ring the bells before the principal service each Sunday
and for special celebrations, a practice extending back 120 years. The PCC is grateful to the OUSCR. for
complementing our acts of worship so regularly and with such consideration for our needs.
The PCC is grateful to the Director of MusiG, the Organist, and the Choir for their excellent Gontribution to the worship of
the parish. In the autumn, our organist Daniel Mathieson left to take up a post at Chester Cathedral. After a highly
competitive recruitment process, the PCC was pleased to welcome lan Tindale as our new organlst. lan's first service
was the Carol Service in December.
The church relies on the voluntary work of many people within the church and the PCC very much appreciates their
service to the churGh and the wider community.
The PCC is grateful to all those who have generously contributed to the fInan￿S of the parlsh during Ihe year by
standing order, through the envelope scheme, through electronic contribution via the contactless machines. or
Othe￿iSe.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
It is noted that Ihere has been significant movement in the Treasurer role, namely by the stepping down of Ashley
Walters, the appointment of ChristopherAdams in 2024. and finally the appointment of Oscar Riba-Thompson in March
2025, who compiled and provided the accounts for external auditing. The PCC wants to thank all those who have
supported tho transition period.
Achievements and performance
Worship
The parish provides a centre of Catholic Anglican worship in the heart of Oxford with a strong tradition of preaching and
music, with a full round of daily services and accessibility to the sacraments.
In the usual pattern of worship, there is a High Mass on Sundays (preceded by Morning Prayer) and Iwo Low Massès.
The average attendance is in excess of 100.
On weekdays Morning and Evening Prayer are normally said in church. drawing small but faithful congregations. The
two daily masses (lunch-time and evening) draw congregations from those who work in the city centre, or who are
visiting the city. A priest is available to hear confessions after the midday mass, and at other times.
Music of a high standard continues to play an important part in the Sunday worship of the parish- the High Mass on
Sunday is nomially accompanied by a professional choir of eighL
Lent. Holy Week and Easter normally provide a special opportunity for outreach and mission. Durir7g Lent, a weekly
Stations of the Cross and Benediction of the Blessed Sacrament was combined with a sermon series. On Good Friday,
the Three Hours Devotion (preached by our own clergy) is a major event in Anglo-catholic preaching, drawing a wide
congregation. The CDngregation welcomes a large number of visitors to the services of the Triduum and Easter Day.
The year 2024 saw the departure of our training curate. the Revd Esther Brazil, to become Rector of Wootton with
Glympton and Kiddington, in the DorGhester archdeaconry. The Revd Lucie Spiers moved to continue her curacy at the
parish of St Barnabas with St Thomas the Martyr, and was priested in the sutnmer of 2024.
Sacred Space
The arrival of our new administrator has made a considerable difference to the task of keeping the church open at
regular times during weekdays. We are now open moming and afternoon every weekday. We also draw upon the
goodwill of volunteers who enable this provision. Parishioners. cittzens of Oxford, and visitors to the city all make use of
the church for prayer, or simply as a quiet place in thg cily.
The St Giles Fair took place in September 2024 and the parish stall at the fair has not only been a very successful
fundraising activity but has also provided an opportunty to "show off. the church to local people. The church building
has continued to be used for concerts. which again has provided a chance for the parish to make itself known to a wider
range of people.
The restoration of the churchyard ha5 been a major fundraising target during the year. A recital from our curate Esther
Brazil and organist lan Tindale, and a sponsored "duetathon" undertaken by Esther and others. raised in excess of
£5.000, and other contributions small 8nd18rge saw around £55.000 raised in total across 2023 and 2024. We are very
grateful to all who donated and took part.
Pastoral Work
The parochial clergy continued to Vislt the sick and bareaved, and prepare members of the congregation and of the
parish for the sacraments. Other members of the congregation are also involved in visiting regularly members of the
congregation in hospital, care homes. or who are housebound.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Teaching
Work with children and students. and the support and encouragement of those at any stage of discemment of Christian
vocation, continues to be a priority.
A vocations ne￿Ork continues to be associated the parish. During the year approximately ten people connected
with our congregation have been in training or discemment.
The parish co-operates with the neightK)uring parish of St Michael at Ihe Northgate in running a -Children's Church."
A student discussion and study group club has met weekly during the University term. This has attracted students from
both universities and other colleges in Oxtord. A Bible Study Group Tneets online, at least fortnightly. and tnore often
during Lent and Advent.
A homegroup meets regularly for fellowship and study.
A team of catechists. both lay and ordained, prowdes initial Christian instruction and to assist those preparing for the
sacraments.
The -Sch(x)l of Theologf, made up of clergy and ordinands associated with the parish. was launched in 2018 with a
festival weekend and during 2019 published its first book 'Love Makes no Sense: An Invitation to Christian Theology.
with SCM press. This has been very well received and sales have been highly encouraging. During 2021 a second book
'Catechesis: an Invitation to Living Faith, was published. and a third book 'Love Makes Things Happen. was published in
2022. An extremely Successful series of intemet publications has been maintained on the School webstte which
continues to be managed by Dr Jonathan Jong. our former curate.
Promotion of Christianity
The leadership team has continued to update and expand the parish website. a popular resource on the parish and
Anglo-catholicism. and the websile of the Sl Mary Magdalen School of Theology. The parish's presence on social
media sites such as Facebook and Twitter has increased. particularly as a means of engagement during the pandemic.
The 8am Sunday 5etvices are streamed on Facebook Live, so anybody with a Facebook account can watch either live
or on catch-up. The early Sunday service is often viewed by more than 100 F3￿bOok users.
Supporting Charities
The parish has continued to support the work of the Gatehouse Drop-in Centre. the Emergency Food Bank, and the
Oxford Winter Night Shelter.
Financial review
Over the year the net assets of the PCC decreased by £24.067. The main reason for this is in relation to the
expenditure linked to the 950th Anntversary and the Churchyard Project.
Tha PCC has continued to meet tts target of paying its Parish Share to the Diocese, accepting the Deanery strategy
that parishes should cover at least their clergy costs that fall on the diocese. In 2024. we paid £57.319 to the Parish
Share Fund.
Reserrfes PoliGy
In past years the PCC has had no formal FX)licy concerning reserves. It has, however. operated within a code of practice
by which it is understood that there should always be sufficient liquid funds to cover the Parish Share paid to the
Diocese, along with charitable donations and all routine annual running costs as they fall due. The ability to do so has
been monitored on a rolling quarter by quarter basis, projecting forward 12 months. rather than a year end judgoment.
It has been an aspiration that tax efficient planned giving. augmented by the Grft Aid recovered, should cover the Parish
Share. Most of this is received through the Parish Giving Scheme which provides a reasonable level of security in
managing cash flow. However. there Is a division as to how donors giv8, which is split in direct bank transfers, via the
Parish Giving Scheme. via Enthuse. and via contactlesslcash donations in Church. Our preferred method of giving is
via the Parish Giving Scheme, as this system doès G[ft￿d claims and yearly renewals on an automated basis. It is the
intention to consolidate Giving, whilst still giving options to individual donors.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Principal Risks and Uncertainties
The major risk is the impact of the rising cost of living on parish giving. We have reintroduced the plate at seNices and
included donalion stations which are able to accept cash and contactless donations. However, those currently
supporting the Parish through planned giving may find that they are unable to continue to increase their donations in
line with any rising costs. especially as the financial uncertainty unfolds over the coming years. In addition to the above,
the costs in relation to the Railings and Churchyard Project have escalated. which have required a closer management
and review of the contractors. This will be apparent in 2025.
In 2015 the PCC purchased an investment property and in 2024 received rental income of £31,193.
Related to outgoings, the fabric of the church building wll always provide a level of uncertainty, even when properly
rnaintained. Our insurance polictes are reviewed every three years. Major capital projects are undertaken only after
specific fundraising appeals and are underwritten by The St Mary Magdalen Restoration and Development Trust.
Plans for future periods
The PCC will continue to promote in the parish the whole mission of the Church through prayer and worship, teaching
and learning. and serving the wider communty. In practice, we will achieve this by maintaining our pattern of services,
continuing our study programmes and ministry to students and ordinands. and engaging in pastoral contact with and
ministry to the geographical parish as well as to the ne￿orkS of our gathered (x)ngregation and our many visttors.
Structure, governance and management
The PCC has been fomied under the Parochial Church Council (Powers) Measure 1956.
PCC membership is achieved in various ways. The clergy li￿nSed to the parish are Tnembers by virtue of their office.
The two churchwardens and three Deanery Synod representatives are also ex officio members, the former being
elected by the parish annually and the latter by the APCM for terms of three years, in accordance with rulings rnade by
the Deanery Synod. Other members of the PCC are elected for terms of Ihree years by the APCM on a rotating basis
(one third annually), and further members may be co-opted annually by the PCC. All these elections and cMptions are
made in accordance with the Church Representation Rules.
New PCC members are briefed by the officers of the PCC. No addittonal training has been found necessary, except
Safeguarding Training which is now being undertaken by all PCC member5.
The PCC makes all decisions Corporately.
The PCC is responsible for all parish finance. its management and conlrol. including the appointment of a treasurer.
Members of the PCC are responsible for keeping accounting records. which disclose with reasonable accuracy the
rinancial posilion of the PCC and which enable them to ascertain the financial position of the PCC and ensure that the
financial stalements comply with the Church Accounting Regulations 1997 as amended by the Church Accounting
(Amendment) Regulations 2001, the Charities Act 2011 and the Statement of Recommended Practice 'Accounting by
Charities, 2005. The PCC is also responsible for safeguarding its assets and hence for taking reasonable steps for the
prevention and detection of fraud and other [￿egularitIes. The PCG is also reqUi￿d to ensure that the financial
statements are examined by an independent examiner or auditor prior to presentation to the Annual Parochial Church
Meeting.
In preparing the financial statements. the PCC is ￿qUired to:
Select sultable accounting p)licies and then apply them consistently
Make judgements and estimates that are reasonable and prudent
Follow applicable accounting standards and ststements of recommended practice. subject to any material
departures disclosed and explained in the financtal statements
Prepare the financ]al statements on the going concern basis unless it is inappropriate to presume that the
charity will remain in operation.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The parish is part of the Oxford Deanery, which is part of the Diocese of Oxford.
The parish is a member of Churches Together in Central Oxford.
The parish website can be found at www.stmarymagdalenoxford.org.uk
The PCC has adopted the diocesan model policy on safeguarding, and is of the opinion that this provides adaquate risk
management.
Officers
Dr Groves is Chairman (ex offlclo) of the PCC. Other officers are: Vice-chalrman, Mrs Vorhies. Secretary, Miss Purver.,
Treasurer. Mr Riba-Thompson (from March 2025, MrAdams (interim). Mr Walters (until 20241.
Committees
Tha Standing Committee consists of the Vicar, the Wardens, the Secretary, the Treasur8r and Miss Day. The Standing
Committee has power to transact the business of the council between the meetlngs thereof subject to any directions
given by the council.
The PCC has not found It necessary to eslablish other committees, but has from time to time s8t up working groups to
carry out work and report back ta the PCC.
Approved by the PCC and signed on ils behalf by
The Revd Dr Peter Groves
Trustee
10.s.>

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE
ECCLESIASTICAL PARISH OF ST MARY MAGDALEN, OXFORD
I report to the Trustees on my examination of the financial statements of The Parochial Church Council of Ihe
EcclesiastlC81 Parish of St Mary Magdalen, Oxford (the Charity) for Ihe year ended 31 December 2024.
Respon51bllltle5 and basls of report
As the Trustee5 of the Charity you are responsible for the preparation of the financial statements in accordance wlth
the requirements of the Charities Act 2011.
I report in rèspect of my examination of the Charity's financial statements carried out under section 145 of the
Charities Act 2011. In carrying out my examinalion I have followed the Directions given by the Charity Commission
under section 14515)(b) of the Charities Act 2011.
Independent examlner's 8tatem8nt
Your attention is drawn to the fact that the charity ha5 prepared the financial statements in accordance with the
relevant version of the Statement of Recommended Practice applicable to charities preparing their financial
statements in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
102) in preferenc@ to the Accounting and Reporting by Charities- Statement of Recommended Practice issued on 1
April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has
been done in order for the financial statements lo provide a true and fair view in accordance with UK Generally
Accepted Accounting Practice.
I have completed my examlnatlon. I conflrm thal no matters have come to my attentlon In connection with the
examlnallon givlng me cause to be118V8 that in any material respect.,
accountlng r8cords were not kept In respect of the Charfty as r8quir8d by section 130 of the Charltles Act 2011.
the financial statements do not accord with those records. or
the financial statements do not comply with the applicable requirements concernlng the form and content of
financial slalemen15 set out in th8 Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the financial statements give a true and fair view, which is not a matter considered as part of
an indopendent examination.
I have no concerns and have come across no other matters in connection with the examination lo which attention
should be drawn in this report in order lo enable a proper understanding of the financial statements to be reached.
Robert Kirtland FCA
Gravita Audlt Oxford LLP
First Floor, Park Central
4041 Park End Street
Oxford
OX1 1JD
141512Q25........

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestrlcted Endowment Restrlcted Endowment
funds
funds
funds
funds
deslgnated
gen&ral
2024
2024
Total Unrestrlcted Endowment Restrlcted Endowment
funds
funds
funds
funds
deslgnated
general
2023
2023
Total
2024
2024
2024
2023
2023
2023
Note8
Income from:
Donations and legacles
Charitable activities
Investments
97,271
2,914
5,944
11,519
31,784
2,004
2,446
140,574
4,918
31,844
113,147
2,521
11,803
3,338
42,998
122
2,698
159,483
2,643
26,275
16,115
7,339
6,864
4,910
Total Income and
endowments
106,129
27,634
36,234
7.339
177,336
127,471
10,202
45,818
4,910
188,401
Exponditure on:
Ralslng funds
Charltable actlvitles
1,780
126,337
978
2,758
198.651
1,835
111,498
564
2,399
175.209
3,400
68,914
25,873
37.838
Totsl expenditure
128.117
3,400
68,914
978
201,409
113,333
25,873
37,838
564
177.608
Net Incomel(expenditure)
(21,9881
24,234
(32,680)
6,361
(24,073)
14,138
(15,671)
7,980
4,346
10,793
Transfers between funds
(14,7581
(7,8891
29,008
(6,361)
4,964
{1,165)
547
(4,346)
Net movement In funds
Reconcillation of funds:
Fund balances at 1 January 2024
10
(36,7461
16,345
(3,6721
(24,073)
19,102
(16,836)
8,527
10,793
220,416
267,760
125,754
130,443
744,373
201,314
284,596
117,227
130,443
733.580
Fund balances at 31 December
2024
183,670
284.105
122,082
130,443
720,300
220,416
267.760
125,754
130.443
744,373
The statement of financial activities includes all gains and losses recognised in the year. A15 income and expenditure derive from continuing activities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
BALANCE SHEET
AS A T 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
Investments
14
1S
6,222
675.000
7,971
675,000
681.222
682,971
Current assets
Debtors
Cash at bank and in hand
16
716
45.500
7,953
69,741
46.216
77.694
Creditors: amounts falling due within
one year
17
(7.138)
(16.292)
Net current assets
39.078
61.402
Total assets less current liabilities
720.300
744,373
The funds of the Charity
Endowment funds - general
Endowment funds- designated
Restricted income funds
Unrestricted funds
18
20
19
21
130.443
284,105
122,082
183.670
130.443
267,760
125.754
220.416
720.300
744.373
l¥.Lfr. 25
The financial statements were approved by the Trustees on .........................
The Revd Dr Peter Grovas
Trustee

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
AGcountlng policies
Charity information
St Mary Magdalen Oxford Parochial Church Council meets the definition of a public benefit entity under FRS
102. It has been decided to report on the accruals basis in line with previous years.
1.1 Accounting conventlon
The financial statements have been prepared in accordance with the Church Accounting Regulations 1997 to
2001, the Charities Act 2011, applicable accounting standards and the Statement of Recommended Praclice
applicable to charities preparing iheir financial statements in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019} - (Charities
SORP IFRS 102)).
The financial statements are drawn up under the historfcal cosl conventlon as modlfied by the incluslon of
Investments assets at market value. The financial statements include all transactions, assets and liabilities for
which the PCC is responsible in law. These financials statements do not indude the financial statements of
church groups that owe their main affiliation to another body nor those that are informal gatherings of church
members.
The financial statements have departed from the Charities (Accounts and Roportsl Regulations 2008 only to
the extent required to provide a true and fair view. This departure has involved following the Statement of
Recommend8d Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practlce whlch is referred to in the Regulations but which has since been wlthdrawn.
The flnanclal statements are prepared in sterling, which is the fvnctional currency of the Charty. Monatary
amounts in these financial statements are rounded to the nearest £.
1.2 Golng concern
The financial statements have been prepared on a going ¢oncem basis. There are no material uncertainties
related lo events or ￿nditionS that cast significant doubt upon the charity's ability to continue as a going
concern.
1.3 Charltable funds
Unrestricte(I funds are general funds available for the general objectives of the church.
Designated funds are unrestricted funds that have been set aside by the PCC for particular purposes.
Rastrictad funds can only be used for the purposes for which they have been given, within the objectives of
the church. The cost of raising and administering such funds are charged against those speclfic funds. The
alm and use of each fund is explained later in the Notes.
Endowment funds are restricted funds which must be help pennanently and the capital maintained while the
income is restricted.
1.4 Income
Income is recognised in the SOFA when the church has entitlement to the funds. it is probable that the income
will be received and th8 amount can be measured reliably.
Collections are recognised when received by or on behalf of the PCC. Planned giving is recognised only when
received. Grants and legacies are recognised as soon as the PCC becomes aware of its legal entitlement and
the amount due is quantifiable with probable certainty. Income tax recoverable on gift aid donations is
accounted for when the gift is received, not when the tax refund is received.
10-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Contlnued)
When incoming resources have related expenditure (as with fundraising income) the incoming resources and
the related resource expended are accounted for gross in the SOFA.
Gifts in kind are accounted for at reasonable estimate of their value of the church or the amount actually
realised. Gifts in kind for use by the church are Included In the SOFA as incoming resources when receivabl8.
Dlvidends and Inte￿st are accounted for when receivable and includes any recoverable tax.
Realised gains are accounted for on assets held for the church's own use are taken into account 8t the lime of
sale.
1.5 Expendlture
Expenditure is included on an accruals basls and is recognised when there is a legal or Constructive obligation
to pay for goods or services.
All costs have been directly attributed to the various categories withln the SOFA.
Any general support costs have b88n allocated across activity Cost categories on a basls consistent wlth the
use of resources based on an allocation of actual costs.
As the churGh Is not registered for VAT, all expendlture Is shown indusive of VAT.
Governan￿ costs indude the cA)st of preparation of the annual financlal ststements. the cost of PCC
meetings and the legal cost of advlce on governance or constitutional matters.
Grants and charitable giving are accounted for when pald over or when awarded, rf the award creates a
binding obligation on the PCC, provided that there are no conditions to be met relating to the granl which
remain in the control of the church.
Parish Share is accounted for when paid except thal any Parish Share unpaid at the end of the financial year
is provided for in Ihe financial statements as a constructive obligation. although not a liability, and is included
in the balanGe sheet as a liability.
11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
1.6 Tangible fixed assets
Consecrated and beneliced property of any kind is exduded from the accounts by s.10 of the Charities act
2011.
Investment and freehold property held for the PCC by Diocesan Trustees (Oxford) Limited as custodian
trustee is included in the balance sheet.
Land and buildings held on behalf of the PCC for its own purposes are valued at cost. No depreciation is
charged against such properties, since in the opinion of the PCC these properties are maintained to a
standard that does not require depreciation. but any expenditure on maintenance or improvement is written off
as incurred. Provision will be made if there has been any permanent diminution in value.
All capital expenditure in excess of £1,000 for a single item or a group of similar items, is capitalised.
It has not been possible, without incurring expense and effort disproportionate to the value of uslng these PCC
accounts. to establish the value of longstanding inventory assets of the PCC, and th&y have therefore been
excluded from these financial statements.
othe￿iS8 depreciation is provided on all tangible fixed assets at rates calculated to writ8 off the Cost evenly
over the expected useful economic life of assets as follows..
Vestments
Music Chest and Furniture
Sound System
5 years straight line
20 years straight line
5 years stralght line
1.7 Fixed asset investments
Investments are shown on 31 December at market value
Both realised and unrealised gains are shown under'other recognised gainslllossesl, section of the SOFA
Crltlcal accountlng estimates and judgements
In the application of the Charity's accounting policies. the Trustees are required to make judgements.
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experien￿ and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying
amount of assets and liabilities are as follows.
Asset Llves
Determining the useful life of assets is a crucial estimate that impacts depreciation expense and asset
valuation.
12-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Donations and legacies
Unrestricted Endowment Restricted
funds
funds
fund5
2024
2024
2024
Total Unrestricted Endowment
funds
funds
2023
2023
Restricted
funds
2023
Total
2024
2023
Donations and gifts
Grants from Trusts
97,271
3.1,784
129.055
11.519
81,622
31,525
42.998
124.620
34.863
11,519
3,338
97,271
11,519
31,784
140,574
113,147
3,338
42,998
159,483
Donatlons and glfts
Tax-efficient planned giving lex, tax)
Collections: loose cash at services
Other planned giving
Other individual donations
Tax recovered
Church boxes
Special Appeals
Legacy receipts
950 Anniversary project
57,498
3.118
4,262
8,286
15,565
4,117
3.425
1,000
5,089
62,587
3.118
4.262
8,286
15,565
4,117
8,320
1,000
21,800
45,146
3,778
3,195
2,483
14,375
4,475
1.670
6,500
3,380
48,526
3,778
3.195
2,483
15.185
4.475
20.478
6.500
20,000
810
4.895
18.808
21,800
20.000
97,271
31,784
129.055
81.622
42,998
124,620
13-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Donatlons and18gacles
(Contlnued)
Grants recelvable for core actlvltios
St John's College
SMM Restoratlon & Development Trust
Other
Christ Church Cathedral
Other
100
10,000
3,763
21,000
{3,338)
100
10,000
3,763
21,000
10,000
10,000
1.519
1,519
3,338
11,519
11,519
31,525
3,338
34.863
14-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from charltsble activities
Unrestricted Restricted
funds
fvnds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Other trading activities
Other income
2.914
2,004
4.918
2,521
122
2.643
15-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from Investments
Unrestrlded Endowment Restrlcted Endowment
funds
funds
fund8
funds
designated
general
2024
2024
Total Unrestrlcted Endowment Restrfcted Endowment
funds
funds
fund$
funds
deslgnated
general
2023
2023
Total
2024
2024
2024
2023
2023
2023
Rental income
Interest receivable
15,464
651
2,446
7.339
31,193
651
11,803
6.090
774
2,347
351
4,910
25,150
1,125
5,944
16,115
7.339
31,844
11.803
6.864
2,698
4,910
26,275
16-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on ralsing funds
Unrestricted Endowrnent
funds
funds
2024
2024
Total Unrestrfcted Endowment
funds
funds
2023
2023
Total
2024
2023
Fundralslng and publlclty
Other fundraisSng costs
1,780
978
2.758
1.835
564
2,399
Expenditure on charitable activitles
Expenses
2024
Expenses
2023
Diract costs
Depreciation and impairment
Parish Share
Insurance
Organ
Maintenance
Other
Major Works
Clergy Expenses
Parish Administrator
Cost of Church Services
Cost of Choir
Outreach actlvities
950 Annlversary Project
1,749
57,319
8,389
13,546
2.923
7,886
3,558
8.005
10,500
3,262
27,591
3,396
39.933
1,751
66,024
7.279
9,459
841
27.235
823
1,690
12,423
3,431
22,398
582
13,882
188,057
167,818
Grant funding of activities (see note 8)
20
90
Share of 8UPPOrt and governance costs (see note 9)
Support
Governance
5,9)3
4,671
4.126
3,175
198,651
175,209
Analysis by fund
Unrestricted funds
Endowment funds - designated
Restricted funds
126,337
3,400
68,914
111,498
25,873
37,838
198,651
175,209
17-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants payable
2024
2023
Grants to institutions:
Friends of Christ church
Grants to those involved in Muriel's Day sponsored abseil
20
20
70
20
90
Support costs allo¢at•d to activltles
2024
2023
Photocopying
Postage and Stationary
Telephone and broadband
Fees, Bank storage, etc.
Other
Govemance costs
2.800
18
2.565
48
472
4,671
1,718
299
1,273
54
782
3.175
10,574
7.301
Analysed between:
Expenses
10,574
7,301
10 Net movement In funds
2024
2023
The net movement in funds is stated after chargingl(crediting):
Fees payable for the independent exarnination of the charityls financial
statements
Depreciation of owned tangible fixed assets
4.636
1.749
3,140
1.751
11 Trustees
No members of the PCC re￿iVed any remuneration for their work on the PCC. The dergy licensed to the
parlsh, who are ex officio members. receive a slipend but are not remunerated for service on the PCC.
Six Trustees had expenses reimbursed totaling £3,482 (2023." £2,510). Other PCC members a￿ entitled to
receive choristers, fees. One Trustees received a total of £5.990 (2023: £3.405).
18-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Total
There were no employees whose annual remuneration was more than £60,000.
13 Taxatlon
The charity Is exempt from taxation on its actNities because all its income is applied for charitsble purposes.
14 Tangible fixed as8et8
Vestm•nt8 Muslc Chest Sound Sy$t•m
and Fumlture
Total
Cost
At 1 J8nuary 2024
2.432
10.888
6,000
19,320
Al 31 Decemb8r 2024
2,432
10,888
6,000
19,320
Depreciatlon and impalrnient
At 1 January 2024
Depreciation charged in Ihe year
832
121
9.317
428
1,200
1,200
11,349
1,749
At 31 December 2024
953
9,745
2,400
13,098
Carrying amount
At 31 December 2024
1.479
1,143
3,600
6,222
At 31 December 2023
1,571
4,800
7,971
15 Fixed asset Investments
Llsted
investments
Cost or valuation
At 1 January 2024 & 31 December 2024
675,000
Carrylng amount
At 31 DeceTnber 2024
675.000
At 31 D￿rnber 2023
675.000
19-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Debtors
2024
2023
Amounts falling due within one year.
Trade debtors
Prepayments and accrued income
642
74
7.144
809
716
7.953
17 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other creditors
Accruals and deferred income
167
12,985
3,140
7.138
7.138
16,292
18 Endowment funds
Endowment funds represent assets which must be held pe￿nanentlY by the Charity. Incom8 arising on th8
endowment funds can be used in accordance with the objects of the Charity and is induded as unrestricted
in(￿me. Any capital gain5 or losses arising on the assets form part of the fund.
At 1 January
Incoming
2024 resource5
Resources
expended
Transfers
At31
December
2024
Pernianent endowments
Morrel Hall Fund
130.443
7.339
(978)
(6,361)
130,443
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At31
December
2023
Pemianent endowments
Morrel Hall Fund
130.443
4.910
(564)
(4.346)
130.443
-20-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subjecl to specific conditions by donors as to how they may be used.
At 1 January
2024
Incoming
Resources
expended
Transfers
At31
December
2024
Major Projects
Curate House
Music
Frontals
Friends of SMM fund
SMM Fund
950 Anniversary Project
36,880
71.867
36.880
74,313
2,446
11,988
(28,9811
16.993
63
1,863
8,963
1.863
6.118
21.800
(39,933)
12,015
125,754
36.234
(68.914)
29,008
122.082
Prevlous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At31
December
2023
Major Projects
Curate House
Music
Frontals
Friends of SMM fund
SMM Fund
950 Anniversary Project
36.609
69.520
271
2.347
23.120
36,880
71,867
{23.667)
(401
(249)
547
102
2.098
8.898
63
1,863
8,963
6.118
14
65
20,000
(13.882)
117.227
45,818
(37,838)
547
125,754
-21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Endowrnent funds - designated
These are endowment funds funds which are material to the Charity's activities.
At 1 January
2024
Incoming
resources
Resources
expended
Transfers
At31
December
2024
Wynne-Davies Fund
Fabric Fund
196.290
71.470
9.103
18,531
(1,2131
(2,187)
17.889)
198,291
87,814
267.760
27,634
(3,400)
{7,889)
284.105
Prevlous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At31
December
2023
Wynne-Davies Fund
Fabric Fund
196,290
88,306
6,211
3,991
(700)
(25,173)
(5,511)
4,346
196.290
71.470
284,596
10,202
(25,873)
<1,165)
267.760
21 Unrestricted funds
The income funds of the charity include the following designated funds which have been set aside out of
endowment funds by the trustees for specific purposes:
At 1 January
2024
Incoming
resources
Resources
expended
Transfers
At31
December
2024
Wynne-Davis Fund
Fabric Fund
General funds
7.639
9.047
203.730
7,639
9.047
166,984
106,129
(128,117)
(14,758)
220.416
106,129
(128,117)
(14,7581
183.670
-22-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21 Unrestricted funds
(Continued)
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At31
December
2023
Wynne-Davis Fund
Fabric Fund
General funds
7,639
9,047
184.628
7.639
9.047
203.730
127.471
{113,3331
4,964
201,314
127.471
(113,3331
4,964
220.416
22 Related party transactions
The PCC received donations from the St Mary Magdalen Restoration and Development Trust, a relaled
charity with Trustees in common. Income received during the year was £24,300 (2023.. £10,000). £14,300 of
this was restricted to be used on the 950 anniversary project and the remainder was spent on charitable
activities.
-23-

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST MARY MAGDALEN, OXFORD
ST. MARY MAGDALEN CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
23 Pension Scheme
St Mary Magdalen {Oxford) PCC (PB 2014) participates in the pension builder sGheme section of XWPF for
lay staff. The Scheme is administered by Ihe Church of England Pensions Board. which holds the asset5 of
the schemes separately from those of the St Mary Magdalen PCC and the other participating employers.
The Church Workers Pension Fund has a Section known as the Defined Benefits Scheme. a deferred annuity
section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014
Pension Builder Scheme
The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension
Builder Classic and Pension Builder 2014, both of which are dassed as defined benefit Schemes.
Pension Builder classic provides a pension for rnambers for payment from retirement. accumulaled 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. Bonuses may also be added, depending on
investment returns and other factors.
Penslon Builder 2014 Is a cash balan￿ scheme that provides a lump sump that members use to provide
benefits al retirement. Pension contributions are recorded in an account for each member. This account may
have bonuses added by the Board before r8tirem8nt. The bonus8s depend on investment experience and
other factors. There is no requirement for the Board lo grant any bonuses. The account. plus any bonuses
declared, Is payable from members, Normal Pension Age.
There is no sub-division of assets b8tW88n employ8rs in each section of the Pension 8ulld8r Scheme.
The scheme is a multi*mployer scheme as described in section 28 for FRS 102. This is because it is not
possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and that
contributions are accounted for as if the Scheme were a defined contribution scheme.
The pensions costs charged to th8 SOFA in the year are contributions payable NIL (2022: NIL)
A valuation of the Pension Builder Scheme is carried out once every three years. The most r8C8nt was carried
out as at 31 December 2016. For the pension Builder Classics section, the valuation revealed a deficit of
£14.2 on the ongoing assumptions used. At the most recant annual revi￿. the Board chose not to grant
discretionary bonus, which will have acted to improve the funding position. There is no requirement for the
deficit payments at the current time.
For the pension Builder 2014 sedion. the valuation revealed a surplus of £1.8m on the ongoing assumptions
used. There is no requirement for deficil payments at the current time. The legal structure of the scheme is
such that if another employer fails, St Mary Magdalen (Oxford) PCC could become responsible for paying a
share of that employerfs pension liabilities.
-24-