2024-12-31-accounts

TREASURER’S REPORT FOR THE YEAR ENDING 2024

Introduction

For 2024 the PCC approved a budget (excluding All Saints) with a deficit of circa £3,425, based on fairly static income and expenditure figures against 2023 and the premise of paying our full Parish Share. All Saints continues to manage their own income and expenditure.

The reality for 2024 was that income was higher than estimated and costs were lower than estimated leading to a very healthy surplus for the year. I thank the congregation for their continued very generous giving and I thank God for the provision by the way of a great tenant using St James’ Hall.

Actuals	2024	2023	2022	2021	2020
Total income	£106,975	£101,718	£80,508	£73,838	£83,01
Total expenditure	£90,758	£92,999	£80,668	£81,606	£76,104
Surplus / loss	£16,217	£8,720	(£160)	(£7,768)	£6,908

The St James’ Hall income alongside the continued generosity of the congregation in both regular giving and a successful Gift Day has led to a level of income not seen for a long time and although expenditure was pretty static it included a much-needed increased amount in maintaining the fabric of the churches, there was a healthy surplus of over £16,000.

Finally, it is worth noting that we continued to pay our full Parish Share in 2024 and we maintained our Away Giving at 10% of income including all additional income. Both these points have been discussed at the PCC when setting the budget and will continue to be our position, when possible.

2025 budget

The PCC has approved a budget for 2025, with budgeted income of £101,404 including a gift day in the Autumn and a budgeted expenditure of £92,669 which will lead to a surplus of £9,335.

It is our intention to maintain our Parish Share payments to cover our full contribution, however the PCC has agreed to keep this under “watch”, and review the decision should the finances look poor towards the end of the year. With the stated intention to adjust our payments so that the overall position is breakeven / neutral, shiuld that be required.

These figures do not include income and expenses managed separately by the Friends of All Saints.

Thanks

As treasurer and on behalf of the PCC I would like to thank everybody who made donations to the Church. No matter how big or how small, regular or simply one-off, each donation helps support the functioning of our Church and they are all very gratefully received. Thanks to you all.

Acknowledgements

As always, I would like to give a special thanks to Jo Saward without whom I wouldn’t be able to complete my function as treasurer and the PCC as a whole who are very supportive of the finance function.

Prepared by

Peter Garner

Treasurer

Statement of Assets and Liabilites Note Cash funds Bank current account Cash in hand Deposit funds Other monetary assets Deposit held Gif Aid Recoverable Investment Assets Investment fund shares at market value: 3 Norton Mandeville Tithe Chancel Fund Sunday School Trust Endowment Fund Liabilites 2024 invoices paid in 2025	Unrestricted Funds £ 4,012 667 30,692 35,371 576 6,253 - - - 875	Designated Funds £ 1,997 1,997 - - - - -	Restricted Funds £ 26,927 26,927 - - - -	Endowment Funds £ - - - 4,033 13,620 17,653 -	TOTAL 2024 £ 4,012 667 59,617
					64,296
					1,230 6,253
					4,033 13,620
					17,653
					804

Notes

1 The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis

2 The PCC recognises the asset of the land and buildings known as St James’ Hall, St James’ Avenue, but does not value this asset in the statement of assets and liabilities.

3 The endowment funds have to be retained as capital funds, and are invested in funds managed by the Chelmsford Diocesan

Board of Finance.

4 Reserves Policy

It is PCC policy to try to maintain a balance on unrestricted funds that equates to at least three months' unrestricted payments. This is equivalent to £20,062. It is held to smoothe out fluctuations in cash flow and to meet emergencies. The cash balance of £35,371 held on unrestricted (not including designated) funds at the year end meets this target.

5[Outward giving policy]

The PCC models good practice in Christian giving through its outward giving policy. Amounts given as a result of specific fund-raising events and special collections are augmented by amounts allocated from general funds so that a total amount equal to 10% of

Notes (continued)

6 The movements in designated and restricted funds during the year were:

Designated Funds Benevolent Local Mission Bible Notes Restricted Funds All Saints Belfry Youth Work Give away Community Christmas St Mary's Building Fund Garden of Remembrance	Bal b/fwd - 791 1,301 35 2,128 23,405 697 2,602 0 675 - 1,285 28,664	Receipts - - - - - 3,783 - 724 2,060 362 2,000 100 9,029	Payments - 129 - - 129 12,348 - 660 1,900 - - 1,385 16,293	Transfer - -	Bal c/fwd - 662 1,301 35
					1,999
					14,841 697 2,667 160 1,037 2,000 -
					21,401

The restricted All Saints fund is managed by the Friends of All Saints Norton Mandeville.

The restricted Give away fund is used to record monies raised during the year for specific causes and charities, as these monies are restricted to the purpose for which they were raised.

The new restricted St Mary's Building Fund is to be used for maintenance or building work carried out at St Mary's High Ongar.

7 During the year to 31 December 2024, church activities were made up of £3,116 (2023: £6,042) of fees received for weddings and funerals, and £31,989 (2023: £12,186) from the hiring of St James' Hall.

8 Church running expenses are made up of: Music and Worship expenses Church building running expenses Church ofce expenses including technology cost Printng, postage and statonery Service expenses Upkeep of churchyard and grounds Maintenance expenses	2024 2023 503 599 6,447 6,975 s 1,168 947 234 80 812 946 3,600 1,420 4,013 3,229
	16,777 14,196

PARISH OF HIGH ONGAR INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the accounts of Parish of High Ongar for the year ended 31 $1 December 2024, which are set out on pages Respective responsibillties of trustees and examlner 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 thai an independent examination is required. It is my responsibility to. examine the accounts under section 145 of the Charities Act., lo follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145151{bl of the Charities Act), and lo state whether particular matters have come lo my attention. Basls of Independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commissioners An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also Includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning 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 lo whether the accounts present a 'lrue and fair, view. and the regret is limited lo those matters sel out in the statement below. Independent examiner's statement In connection with my examination, no matter has come lo 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 Charities Act., lo prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met, or 21 to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached. Andrew Bowtle 34 Rodney Road Ongar Essex CM5 9HN 261h April 2025