St Michael at the North Gate with
St Martin and All Saints
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Charity Number: 1148900

ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAINTS
TRUSTEES. ANNUAL REPORT
STRUCTURE, GOVERNANCE AND MANAGEMENT
OBJECTIVES AND AcfiviTIES
Multi-use premisgs
Churches Together
Finance and Properties
Staff
REVIEW OF THE YEAR 2024- FINANCE
STATEMENT OF FINANCIAL ACTIVITIES
12
BALANCE SHEET
13
NOTES TO THE FINANCIAL STATEMENTS
14
GENERAL INFORMATION
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NATURE OF THE FUNDS
UNRESTRICTED INCOME & EXPENDITURE
UNRESTRICTED- Tower Shop
RESTRICTED- Tower Refurbishment, Welfare & Spiritual Resources
RESTRICTED INCOME & EXPENDITURE- Sl Michael Charities
STAFF COSTS
TANGIBLE FIXED ASSETS
MOVEMENT IN FUNDS
ANALYSIS OF NET ASSETS BEfwEEN FUNDS
TOWER SHOPSTOCK
10. AGENCYCOLLECTIONS
12. DEBTORS
CREDITORS
14
14
20
21
22
23
24
25
25
26
27

ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS
CHARITY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024
PAROCHIAL CHURCH COUNCIL 2024-2025
Revd Anthony Buckley (Vicar)
Revd John Smallman {Curale)
Revd Canon Charles Raven (Priest wilh PTO)
Mr Bob Earl (Lay Vice-chairmanl
Prof Andrew Spicer Ichurchwardenl
Mr Matthew Lebus {Churchwarden}
Mrs Penelope Warner (Safeguarding Officer)
Miss Prudence Dailey
Dr Myriam Burstow
Mrs Eve Hilchens
Mrs Pat Earl
Mr Martin Palmer
Mr Daniel Martin-Thomas
Mr Richard Pantcheff (Member until 0410712024)
Mr Thomas Dixon
Mr Tom Hammond-Davies (Member until 15105120241
Mr David Elliott {Member until 0410712024- PCC Secretary until 13111124)
Dr Audrey Southgate Imember from 15105120241
In Attendance:
Mr David Frostick (Electoral Roll Officer)
Mr Michael Collier (Treasurer)
Ms Rachael Peace {Health and Safety Officer and Church Caretaker}
Ms Terrie Jenkins (Fire Officer, elected 23111123}
Miss Frances Buckley (Secretary from 131111241
STANDING COMMITTEE
Revd Anlhony Buckley {Vicarl
Prof Andrew Spicer Ichurchwardenl
Mr Matthew Lebus {Churchwarden)
FINANCE COMMITTEE
Revd Anthony Buckley (Vicar)
Prof Andrew Spicer Ichurchwardenj
Mr Matthew Lebus {Churchwarden)
Dr Myriam Burstow (Church Administrator}
Mr Michael Collier (Treasurer)
DEANERY SYNOD MEMBERS
Miss Prudence Dailey
Prof Andrew Spicer
Dr Myriam Burstow
Mrs Eve Hitchens
ADDRESS
The Parish Church of St Michael at the North Gate
Commarket street
Oxford. OX1 3EY
CHARI￿ NUMBER
1148900

ST MICHAEL AT THF. NORTH GATE AND ST MARTIN AND ALL SAINTS
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Vision: Sl Michael at the North Gate, in the centre of Oxford, is a Christian community with a civic
calling and a city-centre ministry, with Christian hospitality at its heart.
As a parish Church of the Church of England, St. Michael's holds regular acts of public worship,
provides space for privale reflection and prayer, offers opportunities for spiritual growth and seeks
to serve the whole community.
As Oxford's City Church, St Michael's holds civic services and relates regularly to the City Council
its elected members, its slaff and ils programmes. By virtue of his appointment, the Vicar is the
City Rector, and attends Council meetings.
St Michael's location in the city centre gives the Church the opportunity to welcome and serve all
who work in the city or come as visitors.
The Parochial Church Council {PCCI is made up of regular members of the worshipping
community, with the purpose of working with the Clergy in their leadership of the mission of St
Michael's in the parish by=
offering welcoming and meaningful opportunities for public worship.,
building the Christian community both within St Michael's and in partnership with other
Churches.,
creating engaging means for connecting with contemporary culture and sharing the gospel
of Jesus Christ.,
witnessing to the kingdom of God in commitment to social justice.
The Revd Anthony Buckley has been Vicar since the start of 2019. In 2024 he was assisted in this
ministry by Revd John Smallman, Revd Richard Small, Revd Andrew Moore, Revd Canon Charles
Raven, several ordinands from Wycliffe and many members of the congregation as we continued
to consolidate and grow our number of services.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Parochial Church Council is a corporate body established by the Church of England, and
operates under the Parochial Church Council Powers Measure. PCCS are required to register with
the Charity Commission.
Regular worshippers at the Church are encouraged to register on the Electoral Roll. Roll members
are eligible to stand for election to the PCC at the Annual Parochial Church Meeting. The
procedures for the election and appointment of PCC members are set out in Church
Representation Rules. There were nine elected positions available on PCC for 2024 and the
Churchwardens, Clergy and members of the Deanery and General Synods are members ex
officio.
The PCC meets six to eight times per year. The PCC appoints the Treasurer and Chairman for the
conduct of meetings. Minutes were kept by David Elliott as PCC Secretary until he was appointed
as Lay Ministerial Assistant and relinquished the Secretarial role to Frances Buckley in November
2024.

ST KItCEL4EL AT THE NORTH GA TE AND ST MARTIN AND ALL SAINTS
The PCC receives reports from the Finance Committee, from the Deanery Synod representatives,
from Churches Together in Central Oxford and from the Electoral Roll Officer. At its meetings it
regularly considers Health and Safety matters and Safeguarding issues. A fire Safety Officer and a
Health and Safety Officer have been appointed. Following the introduction of a new fire alarm
system and emergency lighting in the church, revised procedures were implemented for regular
testing of it and training given in case of an outbreak of fire and for evacuation of premises.
OBJECTIVES AND ACTIVITIES
When planning its activities for the year, the PCC has considered the Commission's guidance on
public benefit and, in particular, the specific guidance on charities for the advancement of religion.
St. Michael's serves the public benefit by providing access and activities which are open to all,
giving opportunities for spiritual growth and cultural enjoyment, and by providing facilities (either at
very reasonable rates or at no cost) for groups which serve those with particular needs.
The PCC'S commitment to the mission of St Michael's is shown by:
providing open and accessible services of worship and teaching, on Sundays and
throughout the week, for as many people as possible to explore the Christian faith and to
become part of the worshipping community of St. Michael's;
opening the Church every day for public access for personal quiet and prayer, acts of
worship, and for the enjoyment of the historical heritage.,
holding regular cultural activities in the Church, both those run by St Michael's and by hiring
the Church to others.,
making available the parish rooms for hire or free use to groups serving the needs of the
community at large.,
supporting the Vicar and Churchwardens in the running of the parish and the continued
participation in ecumenical activity through Churches Together in Central Oxford, the
Quartet of City-centre churches, and other groupings.
managing Ihe finances and maintaining the buildings to serve the overall mission.
employing staff to support the public role of St Michael's.
The Vicarfs Report
Many thanks everyone for another blessed year at st Michael's. We continue to give thanks for all
that this church means to so many, near and far. It is worth calling to mind some changes and
initiatives in 2024. In August, Richard Pantcheff became Director of Music after Tom Hammond-
Davies moved to the USA and a monthly voluntary choir was introduced to complement our
excellent professional choir. David Elliott became Lay Ministerial Assistant. Among many other
things David brought to the table was the weekly lin term time) Catechism study meetings, which
have been a blessing. Tower Treasures with Gemma (and team) has proved to be very popular
wtth toddlers.
The Oxford Centre for Spiritual Growth has increasingly come under the St Michael's umbrella,
and has had a good programme of events.
We are a real community, with our share of sadnesses as well as joys. We remember those who
have been bereaved, those who died, and those who drew close to death.
We have seen an increase in the number of baptisms and it has been very good to see people
explore what steps of growing in faith and understanding might be right for them.

ST MICHAEL AT THE NOR"IH GATE AND ST MARTIN AND ALL SAINTS
We are grateful for the tremendous work behind the scenes which ensures that the finances,
buildings, administration, rotas are all kept in good order. These are the building blocks on which
so much else can happen. Many, many, thanks to all those who work so hard on this (And
continued prayers for the Tower Restoration Project).
The PCC Spring Morning in 2024 contained much thanksgiving but a good sense of looking
forward, and we are grateful for all thal flowed from them, including David's appointment. We are
perhaps ready for another moment, as we consider how to build opportunities for fellowship and
discipleship.
Many thanks everyone, and let us be encouraged about the future.
Multi-use premises
The Church Rooms were used regularly last year by= Alcoholics Anonymous {8 groups, all on a
weekly basis),. Adult Children of Alcoholics (a second group started in late 2023, and conlinuing to
use the premises). These groups are appreciative of the space and well attended, even meeting
over Bank holidays. Also within the PCC objectives, the Oxford Polish Association - Hertford
College (Action against loneliness) started holding monthly meetings in the Parish Rooms.
Similarly, we continue to host The Prayer Book Society and The Samaritans. The Oxford
Pastorate use the Church rooms for worship and meetings throughout the year. Also, Deanery
Chapter use the Parish rooms for their meetings.
The Parish room is still occasionally required by The Store Hotel {our new neighbour) for staff
training and similar, having developed a good relationship with them. OWNS (Oxford Winter Night
Shelter) used our premises for a night shelter again in the winter of 2024125. The Oxford Centre
for Spiritual Growth has been well received following the transition of their centre to the church and
actively organise 5 or 6 events a year for the community. Some changes to the administration and
the format will be implemented in 2025 to adapt to ever changing lifestyles and technology.
In November 2023 the Parish Room embraced the Tower Treasures, a mum and toddler group
which is being run by a member of the congregation. This is proving popular and growing in
numbers.
Choirs and musical groups also continue to use the building for rehearsals and performances,
including.. the Oxford Bach Soloists., the Kennington Choir,. the vox Chamber Choir- the New
Choir- Downside School Chamber Choir. Milady Clare's Musicke and Pavlova Winds.
Trinity Church met in the church and Parish rooms throughout the year and use the basement for
their administrative function.
Again, we had three successful seasons of Music on Mondays. concerts, open to all members of
the public, with free entry and retiring collection in aid of Charities nomir)ated by the musicians.
The PCC has continued the arrangement with TayloES Pianos for the placement in the Church of
one of their fine Yamaha pianos for use in the concerts.
St. Michael's participated again in Oxford Open Doors last year, and with a record number of
visitors to the church and tower. Similarly, the Saxon Tower was visited by School groups, as well
as tourists throughout the year and particularly the summer season, when open for longer hours.
As well as regular hirers of the Parish rooms, there were also ad-hoc and occasional bookings for
use of the rooms including a number of referrals from our new Director of Music. The space was
increasingly used in the week by members of the church, to work, read and find fellowship as well

ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAINTS
as worship. For fee paying groups, charges are modest, and discretion is used to give discounted
access to charitable activities.
Churches Together
Sl. Michael's is part of the Quartet of Churches, comprising Wesley Memorial Methodist Church,
Sl. Columba's United Reformed Church, New Road Baptist Church. St Michael's is also in the
Churches Together in Central Oxford (CTCO) group. As such we support..
The Gatehouse drop-in centre for the homeless, housed in the Parish Room of St Giles, Church,
which was started from the ecumenical commitment of the Churches,. St. Michael's assists the
Gatehouse with finance and voluntary help. CTCO appoints the Chaplain for the Homeless, and
prayer meetings for Ihe homeless are held in different Churches, including St Michael's.
St Michael's is one of the founder churches to participate in the Oxford Winter Night Shelter
(OWNS), also supported by CTCO. St Michael's once again offered their Parish Room on a
Wednesday night in January, February and March 2025 to accommodate 10 homeless guests.
Refreshments are provided in the evening and before the guests leave in the morning.
Finance and Properties
The PCC has continued to manage the financial affairs of St. Michael's, as fully reported in the
accounts.
St. Michael's Church benefits to a significant extent from the financial support of the St. Michael's
and All Saints Charities. The Vicar, Churchwardens and congregation members nominated by the
PCC serve as Trustees of the Charities. The Charities have traditionally also made grants to local
charilies serving the whole community, although the extent of Ihis has been impacted by the
pandemic and will take some time to recover.
The basement of the Parish Rooms was converted into a private meeting room in June 2023, and
last year it was redesignated as part of a Public Place of Religious Worship by GoverT)ment
Valuation Office Agency retrospectively to that date. Trinity Church use it for administration of their
religious activities.
The churchyard area at the base of the Tower was vacant throughout the year, while Oxford City
Council sought to market it as the sub-tenant of St Michael's. A number of proposals have been
submitted from potential tenants and the Diocese has been consulted. Some have subsequently
withdrawn their interest and one has been refused. A proposal has been approved by the PCC
and is currently being considered by the Diocese.
Measures to address recommendations in a Fire Risk Assessment were carried out during the
year, including a comprehensive fire alarm system throughout the buildings, emergency lighting for
the church, removal of redundant ventilation equipment and ducts and the fitting of fire doors,
seals and closers.
Various works identified in the quinquennial report were also carried out during the year including
removal of weeds and moss from walls and drainage channels and re-pointing joints- removal of
moss from flat roofs, applying treatment and re-laying stone chippings. repainting gutters, hopper
heads and downpipes,. re-fixing slipped slates and replacing cracked quarries- redecorating
window ferramenta- re-pointing entrance steps and re-grouting kitchen tiles.

ST MICHAEL AT THF. NORTH GATE AND ST MARTIN AND ALL SAINTS
The sound system was improved by upgrading microphones and receivers, the mixer, control unit,
an audio playback feature, and a better ventilated cabinet with racking for housing sound
equipment. As part of the ongoing maintenance of the lighling systems lamps and tLtbes and some
old fittings in the Parish Rooms and shop were replaced with LED equivalents, so that throughout
the building lights are the more energy efficient LEDS. The church electricity meter was upgraded
to a Smart meter with daytime and off-peak registers. Similarly, the electricity meter in the
caretaker's flat for which the church is responsible was also upgrade to a Smart meter with day
and nighttime registers.
Architect's plans and specifications were developed for refurbishing the Saxon Tower, planning
permission obtained, consultalions with the Diocese sought, contractors, quotes obtained, a
further grant promised and other funding raised, with preliminary stages agreed for re-roofing the
tower.
Staff
The PCC continued to employ a part-time Director of Music. Tom Hammond-Davies fulfilled this
role until August when he moved abroad to take up anolher position. Richard Pantcheff was
appointed as Director in September 2024 on the same basis of directing and managing the
professional choir, with an additional brief to encourage a voluntary choir one Sunday a month.
Church administrator, Myriam Burstow went on maternity leave at the beginning of October 2024.
Her maternity cover was shared by Maggie Worsfold working some extra hours and Aleksandra
Stardelova who agreed to increase her working week to four days. Rachael Peace continued with
her caretaking duties. Nadia Bereza has helped carry out various duties in the office as in previous
years. Mike Collier has continued, on a voluntary basis, as PCC Treasurer.
Simon Ballard and Terrie Jenkins continued to be employed as part-time shop assistants along
with Nada Harding who covered Sundays and late afternoon shifts. Over the course of the year.
assistance with some shifts and holiday cover was also provided by Steph Haynes. Pia Saunders-
Patel, Oliver Anstey and Jonathan McNally working on a casual basis. We were able to open both
the church and shop for extended hours during July, August, September and October allowing
additional time for worship and visitors by staffing the shop until 6pm. The staff team was
enhanced in September with the appointment David Elliott. Terrie Jenkins took on the role of Fire
Safety Officer for the new fire alarm system commissioned in March.
Peter Watson, a local musician with experience in organizing concerts, has kindly continued to
look after Music on Mondays, and has been assisted by Natalia Kakarkina. Theresa Bentley has
helped se￿e tea and coffee to the audience, ably assisted by Jo Collier and John Cecil.
We have continued to be very grateful for so much help from so many volunteers; St Michael's
would not be the same without you!
REVIEW OFTHE YEAR 2024- FINANCE
Unrestricted Funds - income received without any restriction on its use
The total unrestricted net income was £10,462 (2023= £32,363) including the Tower Shop trading
result and its maintenance (shown below). Unrestricted income (excluding the shop) was lower
£99,592 {2023- £108,476) and expenditure increased to £86,426 (2023: £75,783), giving a net
income of £13,166 {2023'. £32,693).

ST MICHAEL AT THE NORTH GA TE AND ST MARTIN AND ALL SAINTS
The redU￿d income was mainly because no rental was received for the Ship Street forecourt
(2023: £12,187) in the absence of a tenant and also a reduction in grants received and other
income to £4.323 (2023.. £10,126), partially offset by additional interest earned on deposits
£9,291 {2023: £5,039) and increased income from letting the church and Parish Rooms to others
£24.146 (2023: £19,589).
Donations (benefitting from an appeal in September) and other giving were maintained at
£49,002 (2023.. £50,935) with some additional tax recoveries on Gift Aid donations not yet
received for the last two months of the year. Some tax recoveries claimed by Just Giving on
behalf of the church are returned in the form of donations.
The total unrestricted expenditure of £86,426 (2023: £75,783) referred to above includes Ministry
Related expenditure of £58,289 {2023.. £45,790). That increased due to higher Parish Share and
additional ministry support costs, such as new BCP books {funded by a generous donation), an
assistant minister's salary and on costs, and a donation for a passion play. This was partially
offset by lower administration costs £28,137 (2023.. £29,993}, though 2023 costs included a
provision of £6,742 for new sound equipment commissioned in 2024. Administration costs in
2024 included a provision £4,086 to retire the computer server which was becoming increasingly
problematic by migrating data storage to a Sharepoint off-site centre freely available to Microsoft
365 users.
Tower Shop tumover rose to £54,010 {2023: £49,548) while cost of sales increased to £53,715
(2023-. £49.878). The increase in costs was partly due to higher staffing levels for longer opening
hours in the summer months, and partly an increase in staff pay rates in January 2024 resulting
in a net trading income of £295 (2023.. £330 lossl. The glass doors into the shop from the
courtyard and from the church needed modification al a net cost of £2,999 after receiving a grant.
Including the maintenance of the doors the overall loss was £2,704 (2023.. £330 loss).
Some of the meetings of the Oxford Centre for Spiritual Growth group this year, with their invited
speakers, have been wilhout attendance charges and the income was lower. event income plus
interest on deposits £3,821 (2023= £4,802). More of the administration required for the meetings
has been caffied out by staff rather than by volunteers and expenditure has increased., event
expenses, staff and other costs £3,437 (2023.. £2,749), resulting in a net income of £384 (2023:
£2,053). The designated fund balance for OCSG at 31 December 2024 was £18,426.
Restricted Funds- income received for a specified purpose - St Michael Charities
Restricted Income from St Michael Charities was £220,968 (2023: £156,125). This year there
have been major maintenance costs for work identified in the quinquennial inspection and in a
fire safety assessment. The latter required a fire alarm system that could be heard in all parts of
the building wherever the fire occurred and emergency lighting in the church with a combined
cost of £47,098. The quinquennial work and further fire precautions cost £30,801 which with
architect's fees and some remedial electrical work brought the total to £93,428 {2023.. £10,496)
reduced to a net cost of £77,857 (2023.. £8,847) by a grant equivalent to the VAT of £15,571 from
LPW (Listed Places of Worship). St Michael Charities agreed to fund this major maintenance
expenditure separately from the normal budgeted maintenance.
Expenditure for which St Michael Charities budgeted and provided monthly funding was
£143.111 (2023: £147,528) and was either within or very close to budget, except in the case of
small maintenance expenditure £15,634 versus budget £12,800. Some of the unexpected
expenditure here was on lighting where there were many lamps needing replacing and some
fittings to comply with safety standards. The opportunity was taken to ensure all replacements
were LED as recommended in a recent Diocese Energy Audit. other items included removing
redundant air conditioning plant, replacing a broken kitchen water boiler and wiring to a separate

ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAINTS
electrical circuit, replacing a broken water heater in a toilet, replacing a cracked roof light over Ihe
vestry (partly offset by a contribution from the contractor) and cracked quarries in church
windows. repairs to the Sanclus bell and a compliance inspection of the flagpole.
Over expendilure £3,477 on the Staff budget was primarily the result of providing cover for
maternity leave for part of the year.
Energy costs came down due to reduced prices, arranged through Parish Buying, for gas and
electricity £14,232 (2023.. £19,002).
Restricted Funds - Tower Refurbishment, Welfare and Spiritual Resources
The Tower Refurbishment fund received donations of £5.588 (2023= £11.203} and interest on
deposits of £7,585 {2023= £5,940) while disbursements were £7,597 {2023- £3,804) giving a net
income of £5,576 (2023.. £13,339). Added to the balance in the fund at the beginning of the year
£156,463 gave a balance of £162,039 to carry forward into 2025.
Donations to the Welfare fund were £2,59012023.. £5,796) with disbursements of £2,253 {2023-
£2,470) giving a net income of £33712023.. £3,326) and leaving a balance of £5,133 in the fund
at 31 December 2024.Donations for Spirilual Resources nil (2023- £1,750) and expenditure was
£451 (2023.. £793) leaving a balance in the fund of £1,417 at the end of 2024.
The note entitled 'Movement in Funds, in the Financial Statements shows a summary of the
balances brought forward in each Fund, the income and expenditure during the year and the
balances carried forward into 2025.
Balance Sheet
Advantage was taken of the higher interest rates available on deposits and a further £30,000
placed on the Church No.1 deposit account increasing it to £150,19612023'. £120,196) while
interest earned and additional monies were added to the Tower deposit account increasing the
balance to £207,812 (2023: £195,829).
Current Liabilities £28,951 12023= 16,779) included creditors and accruals. Creditors £15,236
(2023: £10,955) were invoiced or claimed amounts not yet paid at 31 December. Accruals
£13,715 (2023.. £5,824) were made for bills nol received or accounts to be agreed.
Total bank balances, cash cards, floats and deposits with CCLA Investment Management at the
31 December 2024 were £389,456 (£352,854- 2023). Deducting the net amounts owed to
CreditorslDebtors £24,221 (2023.. £4,922) the liquid assets were £365,235 (2023= £347,9321-
Reserves Policy
The trustees have reviewed the financial needs of the charily and consider Ihat they should aim
to have sufficient unrestricled funds available to ensure that should there be a short-term loss of
income there would be sufficient funds available to meet operating costs for six months. At 31
December 2024, the charity's unreslricted reserves totaled £203,41312023.' £192,951)- This
included £18,426 of designated funds (£18,052.. 2023).
Total funds of the charity at 31 December 2024 were £372,002 {2023: £356,078) of which
£168,589 was in restricted funds (2023.. 163,127).
This report was approved by the Trustees on 14th May 2025.
Michael Collier
Treasurer
10

ST MICFL4EL AT THE NORTH GATE AND ST MARTtN AND ALL SAtNTS
INDEPEJ'DENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MICHAEL AT THE
ORTH GATE CHLIRCH PCC
I report to the charity trustees on my examination of the accounts of the charity for the year ended
31st December 2024 which are set out on pages 12 to 27.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with
the requirements of the Charities Act 2011 {'the Act,).
I report in respecl of my examination of Ihe charity's accounts carried out under section 145 of the
Act and in carrying out my examination I have followed all the applicable Directions given by the
Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body
listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because I
am a member of The Institute of Chartered Accountants in England and Wales, which is one of the
listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect-
accounting records were not kept in respect of the charity as required by section 130 of the Act.
or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content
of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and fair view, which is not a matter considered as part
of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Lee Baker FCA
Wenn Townsend
Chartered Accountants
Oxford
14th May 2025

ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
STATEMENT OF FINANCIAL ACTIWTIES
FOR YEAR ENOED 31 DECEMBER 2024
2024
2023
Unrestricted Restricted
Funds
Funds
Total
Funds
Unrestricted Restricted
Funds
Funds
Total
Fund$
INCOME
Donations and grants
Grants from LPW scheme
Inv&$tmènt in¢omg Irenls l inleresll
Income from charitsble activities
Income from other trading activities
Other incoming Tesourc8s
Total incoming resources
48,402
600
21,291
24,146
54,010
5,753
154.202
229,146
17,156
7,585
277,548
17,756
28,876
24,146
54.010
5,753
408.089
50,935
175,624 226,559
2.944
2,944
5.940
33,046
19,589
49,548
250
11,096
184,758 342.782
27,106
19,589
49,548
10,846
158,024
253,887
EXPENDITURE
Expenditure on charftable actlvltles:
Directly related lo Council's objectives
Management and adminislralion
Costs of rnlslng funds:
Expenditure related to trading
Total expendlturn
58.289
28,137
151.166
97.259
209.455
125.396
45,790
29.993
62,212 108,002
104,174 134,167
57,314
143.740
57,314
392.165
49,878
125,661
49.878
166,386 292,047
248,425
NEf INCOME I {EXPENDITURE)
10.462
5.462
15.924
32.363
18.372
50,735
MOVEMENT IN FUNDS
Totals funds brought forward
10,462
192,951
5,462
163,127
15,924
356,078
32,363
160.588
18,372
50,735
144.755 305.343
TOTAL FUNDS CARRIED FORWARD
203.413
168,589
372,002
192,951
163.127 356 078
12

ST NllCHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS
BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2024
BALANCE SHEET
FOR YEAR ENDED 31 DECEMBER 2024
Notes
2024
2023
FIXED ASSErs
Tangible a55ets
1,813
2,922
CURRENT ASSETS
Stotk
Debtors
Current account
Cash in hand and Petty Cash card
Tower account
Charities deposit accoijnt No. I
Charities deposit account No.2 ITowerl
4,954
4,730
13,214
585
17,649
150,196
207,812
399,140
5.224
11,857
17,478
504
18,847
120,196
195,829
369,935
CURRENT UABIUTIES
Creditors: Amounts falling due within one year
28,951
16,779
NET CURRENf ASSETS
NET ASSETS
370,189
372.002
353,156
356,078
THE FUNDS OF THE CHARITY
Restricted funds
Unrestricted funds
TOTAL CHARITY FUNDS
168,589
203,413
372.002
163,127
192,951
356,078
Approved by the Parochial Church Council on 14th May 2025 and signed on its behalf by the following
Name.. Prof Andrew Spicer, Warden. Committee Member
Name.. Matthew Lebus, Warden, Committee Member
Signalure........
Signalure.........
Charity number: 1148900
13

ST MICIIAEL AT THE NORI'H GATE AND ST MARTIN AND AI.1. SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
GENERAL INFORMATION
St Michael al the Northgate with Sl Martin and All Saints is a registered charity and is a public benefit entity. Ils
principal office is..
Sl Michael al the North Gale
Cornmarkel Street
Oxford
OX13EY
Tel.. 01865 240940
The financial slalements are presented in Sterling, which is the functional currency of the charity.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparatlon and assessment of ongoing concern
The accounts (financial slalementsl have been prepared under the historical cost convention with items recognized
at cost or Irans2Ction value unless otherwise staled in the relevant notes lo these accounts.
The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (issued October 20191-
{Charilies SORP4FRS 10211 and the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021.
The Charity conslitules a public benefit entity as defined by FRS 102.
Incoming Rosources
Incoming resources represent income receivable from those sources listed in Notes 14.
Voluntary income including donations and gifts are included in the Statement of Financial Activities when the
charity is legally enlilled lo the Income and the amount can be quantified with reasonable accuracy.
Income from charitable activities and other trading activities is recognised as earned.
Investment income is recognised on a re￿1V￿ble basis.
Income from grants is recognised when the charity has entiuemenl lo the funds, any performance conditions
attached lo the grants have been met, It is probable that the income will be received and the amount can be
measured reliably and is not deferred.
14

ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {contlnued....
Tanglble flxed assets
Fixed assets are carried al cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided al the following r81es so as lo write off the cost less residual value of the assets
over their estimated useful lives.
Computer equipment
Fixtures and fittings
Straight line basis al 250/0 per annum
Straight line basis al 100/0 per annum
On disposal, the difference between the net disposal proceeds and the carying amount of the item sold is
recognised in the statement of financial activities and included in management and adminislralive expenses.
Flnanclal Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial
8ssels and liabilities like trade and other accounts receivable and payable, loans from banks and other third
parties, loans lo related parties and investments in non-putlable ordinary shares.
Financial assets are measured at cost and are assessed al the end of each reporting period for objective evidence
of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the stslemenl
of financial activities.
The impairment loss for financial assets measured al cost is measured as the difference between an asset's
carrying amount and the best estimate, which is an approximation, of the amount that the company would receive
for the asset were it lo be sold at the reporting dale.
Financial assets and liabilities are ottsel and the nel amount reported in the balance sheet when there is an
enfor￿able right lo set off the recognised amount and there is an intention to sellle on a net basis or to realise the
asset and settle the liability simultaneously.
Impaimient of non-financial assets
At each reporting dale non-financial assets not carried at fair value, like goodwill and plant, property and
equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an
indication of possible impairment. the recoverable amount of any asset or group of related assets (which is the
higher of value in use and fair value less cost lo selll is estimated and compared with ils carrying amount. If the
recoverable amount is lower, the carrying amount of the asset is reduced lo ils recoverable amount and an
impairment loss is recognised immediately in the slalement of financial activities.
Stocks are also assessed for impairment al each reporting date. The carrying amount of each item of stock, or
group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group
of similar items, is impaired its carrying amount is red￿￿d lo selling price less Cost lo complete and sell, and an
impairment loss is recognised immediately in the statement of financial aclivilie5.
15

ST MICHAEL AT THE NORTH GATE AND ST MARI'IN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Icontlnued...)
If an impaiment loss is subsequently reversed. the carrying amount of the asset, or group of related assets, is
increased lo the revised estimate of ils recoverable amount, bul not to exceed the amount Ihal would have been
determined had no impairment loss been recognised for the asset, or group of rel8led assets, in prior periods. A
reversal of an impairment loss is recognised immediately in the statement of financial activities.
Debtors
Short temi debtors are measured al transaction price, less any impairment.
Creditors
Short term trade creditors are measured al the transaction price. Other financial liabilities, including bank loans,
are measured initially al fair value, net of transaction costs, and subsequently at amortised cost.
Stock
Stock has been valued al the lower of Cost and estimated selling price less cost lo complete and sell, after
making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued
on a standard cost basis.
The carrying amount of stock sold is recognised as an expense in the period in which the related income is
recognised.
Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation
lo pay for such expenditure.
Resources are expended in the furtherance of the charity's objectives.
Any allocation of reSoU￿S expended between the activities of the charity have been apportioned on a direct
basis.
Value Added Tax
As the charity is not registeTed for Value Added Tax. all costs are VAT inclusive.
Church Workers Pension Fund {CWPF)
St Michael at the North Gate church participates in the Pension Builder Scheme of CWPF for lay staff. CWPF is
administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of
St Michael at the North Gate church and Ihe other participating employers.
CWPF has two sections..
the Defined Benefits Scheme
2. the Pension Builder Scheme, which has subsections.,
a deferred annuity section known as Pension Builder Classic, and
a cash balance section known as Pension Builder 2014.

ST MICHAF.L AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Icontinued...)
Pensions (continued...)
Pension Builder Scheme
Both sections of the Pension Builder Scheme are classed as defined benefit schemes.
Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred
annuity during employment based on terms sel and reviewed by the Church of England Pensions Board from lime
to time. Dis¢relion8ry increases may also be added, depending upon the investment relums and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use lo provide benefits
at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be
added before retirement, depending on investment returns and other factors. The account, plus any bonuses
declared is payable, unreduced, from age 65.
There is no sub-division of assets be￿een employers in each section of the Pension Builder Scheme.
The scheme is considered lo be a mulli-employer scheme as described in Section 28 of FRS 102. This is because
it is not possible lo attribute the Pension Builder Scheme's assets and liabilities lo specific employers and means
that contributions are ac￿unted for as if the Scheme were a defined contribution scheme. The pensions costs
charged lo the SOFA in the year are contributions payable12024.' £15,702, 2023.. £16,423}-
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was
carried out as al 310ecember 2022.
For the Pension Builder Classic seelion, the valuation revealed a surplus of £34.8m on the ongoing assumptions
used. Al the most recent annual review effective 1 January 2025, the Board chose lo grant a discretionary bonus of
6.7 % lo both pensions not yel in payment and pensions in payment in respect of service prior lo April 1997,. and a
bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 2.7'/o Iwhere
usually il would be calculated based on inflation up lo 2.5°1ol. This followed improvements in the funding position
over 2024. There is no requirement for deficit payments al the current time.
The next valuation is due as al 31 December 2025.
For the Pension Builder 2014 section, the valuation revealed 8 surplus of £8.5m on the ongoing assumptions used.
There is no requirement for deficit payments al the current time.
The legal structure of the scheme is such that if another employer fails, Sl Michael al the North Gate could become
responsible for paying a share of the failed employer's pension liabilities.
NATURE OF THE FUNDS
The unrestricted funds of the charity are applied in promoting its general aims.
Designated funds comprise unrestricted funds that have beerf sel aside al the discretion of the Trustees for
particular purposes.
The restricted funds of the charity are fijnds received from donors for specific purposes and they are applied
according to the donors, wishes.
St Michael's Charities give reslricled grants lo meet agreed maintenance, staff, music and running costs.
17

ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. UNRESTRICTED INCOME & EXPENDITURE
Total
2024
Total
2023
Total
2024
Total
2023
Unrestricted Income excl Sho
Deposit Fund interest
Deposit Fund interest - Tower Acc
Deposit Fund interest- PCC Acc
Total Deposit Fund interest
Glvlng and Gift Aid
Bank donations from individuals
Just Giving. CAF & PayPaS donallons
Contacuess donation polnt
Grft Ad - Envelopes
Loose plate collections
Non Gift One-off Donatlons
One-off Gift Donations
Tax recoverable on Grft
Total Glvlng and Glft Ald
Fundraising Activities
Lettings fundraising - church & rooms
Lettings oble¢lives- chijrch & rooms
Total Fundrdlslng Activities
Rental Income
Rent Basement Let (Trinity Church}
Rent Ship Street Forec£Jurt
Total Rental Incomè
Grants & Other Income
Grants Other (not Stmchl
Other income
Admin services - to others
Weddlng & funeral fees
OCSG Event Income
Total Grants & Othèr Income
Unrestricted Ex
Èndlture
Mlnlstry related expenditure
Ministry parish share etc
5,039 Cleaning materlals
5,039 Upkeep of services
Clergy Expenses
20,019
19.311 Charitable donations
2,858
1,666 Cost of events
2,615
1.981 Staff.. Asst Minister
4,188
2.171 Total Minlstry related expense
6,359
7,936
2,215
870 Admlnlstrntlon
4.000
5.400 Administration & Stationery
6.748 11.600 Bank charges main account
49.002
50,935 Church Office Photocopier
IT & Software
2,261 Telecoms & Broadband
17.328 Church Office- Computers
19.589 Misc. small exp & refreshments
Professional fees
10,600 Governance & accountancy
12.187 Website redevelopment
22.787 Church & P.Rooms Waste
Caretaker flat expenses
3,300 Staff: Admlnistration Assistant
1.955 Minor repairs not Stmch
1.330 staff training and development
99 Depreciation charge
3,442 Other Property Upkeep
10.126 Total Admlnlstratlon cost
2.397
6.894
9.291
44,827 42,693
1,325
939
3.384
1,090
80
60
2,150
240
1.908
768
4.615
58.289 45.790
1,303
363
2,707
7.028
2.365
4,086
2,141
983
372
2.391
6,739
1,630
1,212
22.934
24,146
1,650
1.530
960
2,845
222
1.615
12,000
312
246
726
1.372
2,991
1,388
1,109
12,000
1,000
460
538
104
3,051
5,153
367
1,947
6,742
28.137 29.993
Total Unrestrfcted Incom• ex Sho
99.592 108.476 Total Unr Ex
endlture ex Sho
86,426
75.783
Net Unr Incomel
endlturn
13.166 32.693

ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAtNTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2. UNRESTRICTED - Tower Shop
Tower Shop
Total
2024
Total
2023
Tumover
Tower admissions- Afi Tickets
Tower Shop general sales
Tower Donations
Total Turnover
Cost of Sales
Tower Shop Bank charges
Tower Shop Merchant service fees
Tower Shop Running costs
Tower Shop Staff.. Part-timers
Tower Shop Stock purchases
Total Cost of Salas
Gross Profit I
Loss
Non-trading costs
Tower Shop Maintenance
Less grants recelved
Total Non-tradin
costs
Net Income I
enditure
38.325
15.685
33,895
15,503
150
49,548
54,010
233
972
146
43.612
8,752
53,715
295
228
791
97
40,550
8,212
49,878
330
3,599
800
2,999
330
3. RESTRICTED- Tower Refurbishment, Welfare & Spiritual Resources
Tower Refurb, Welfare & Splrltual
Resources
Tower
Total Refurblshment Welfare Fund
2024
2024
2024
Splritual
Resources
Total
2023
2024
Income:
Bank donations from individuals
Just Giving, CAF & PayPal Donations
Non GiftAld One-off Donations
One-off Gift Ald Donations
Tower donations & grants
Givlng and Glft Ald
Deposit Fund interest- Tower
Account
Total Income
Expendlture:
Church major repairs- structure
Misc. small exp & refreshments
Spiritual Re50ur¢es spend
Weltare fund spend
Totsl Expendlture
2,590
4,770
20
loo
698
8,178
2,590
8.296
4,770
20
loo
698
5,588
11,203
19,499
2,590
7,585
15,763
7,585
13.173
5,940
25,439
2,590
7,597
126
367
2,211
10,301
7,597
3,804
42
367
793
2.470
7,067
2,211
2,253
7,597
451
Net Income I IExpendlture)
5,462
5,576
337
1451)
18,372
19

ST MICHAEL AT THE NORT14 GATE AND ST MARTIN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
4. RESTRICTED INCOME & EXPENDITURE- St Michael Charities
st Mlchag15 Charltl•s
Total
Malnt•nanc•
Musl¢
Runnlng
05ts
Staff
Total
2024
138.000
2024
12,800
2024
30,200
2024
20.000
2024
75,000
2023
143.200
Budget
Expenditure r•lat•d to PCC oblectlves:
Church maintenance service ¢ontr8Ct8
Insurance
Minor r8pairs
Organ I piano tuning
Staff.. Director of Music salary & On cosl
Music- rnusici8ll8
Music othèr expenditure
Dirtetly related to Councll obl¢ctlvg8
Admlnlstrat50n:
Church & P.Roorns electri￿ty
Church & P.Rooms gas
Church & P.Rooms Water & Wasts
Staff.. Caretaker salary & On Costs
Caretaker flat expenses
Staff.. Church Adtninistrator salary & On cost
Costs of other staff
Staff.. Finance Manager salary & On cost
IT & Sof￿re
Telecoms & Broadb8nd
staff: Admini5tratlon Asslstant & On cost
Staff= Facilities Assistant salary & On co81
Total Admlnlstratlve Costs
Total Expendlture
Grant5 ILPW) for mlnor repalrs & donations
Total Exp•ndlturè less LPW grants
Expondlture underllover) Budget
Major Malrht8nance
Church major répalrs- Insiallation
less Grants ILPWI Major Maintenancg
Major Maintenanc4 less LPW Grants
Total Ex
endltUfB 108s LPW
rdnts
Income forth8 fund
Donatrons
Grants frorn LPW
st Micha81 Charthas grants
Arnount owed
to
Ib St. Michael Chartho8
Total Incomg to the fund
2,844
5,806
7.154
1.415
3,094
5.928
2.031
763
11,656
19.978
1,199
44.649
5,806
7,154
1,415
11.432
16.515
2.271
47,437
11.432
16.515
2,271
30.218
17,219
8,250
5,982
1,448
16,788
3,555
28,895
1,265
13,945
1,919
1,183
14.029
8,250
5,982
1,448
10.050
8,952
1.491
17,362
3.312
25,029
718
12.773
1.920
511
12,720
9,336
104174
148,823
1.295
147 528
14.3281
16.788
3.555
28.895
1.265
13.945
1,919
1.183
14.029
97,259
144,696
1.585
143,111
15,1111
18.782
18.782
17,219
1.585
15,634
12.8341
30.218
78,477
18,782
1.218
{181
13,4771
93,428
15,571
77,857
220 968
93.428
15.571
77,857
93.491
10,498
1,649
8,847
159,319
78.477
250
2.944
152,054
17,156
223,517.
2,549
238 124
17,156
96,040
2.549
110647
30.218
18.782
78.477
30.218
18.782
159319
20

ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
5. STAFF COSTS
2024
2023
Salaries and employee costs including employers, national insurance
Pension and life cover costs
123,606
15,702
139.308
117,033
16,423
133,456
The average number of employees was 912022= 9}.
No employee earned more than £60.000 during the year
The vicar claimed £138 for reimbursement of expenses12023.' £7451. Travel and other expenses of £80
12023.. £601 were paid to assisting clergy.
Expenses of £1,20812023'. £1,026) were reimbursed lo other members of the parochial church council
REMUNERATION PAID TO MEMBERS OF THE PAROCHIAL CHURCH COUNCIL
2024
2023
No remuneration was paid lo members of the
parochial church council for their role as Trustees.
There were no other related party transactions with the parochial church council during the year.
21

ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
6. TANGIBLE FIXED ASSETS
Computer
equipment
Fixtures and
rittings
Total
Cost
Al 1 January 2024
Additions
Disposals
Al 31 December 2024
8,706
25,536
34,242
8,706
25,536
34.242
Accumulated depreclatlon
Al 1 January 2024
Charge for year
Disposals
Al 31 December 2024
8,337
145
22,983
964
31,320
1.109
8,482
32,429
Net book value
At 1 January 2024
Al 31 December 2024
369
2,553
2,922
224
1,589
1,813
DEBTORS
2024
2023
Tax & Nl credit- SMP scheme
Sl. Michaels Charities
Other debtors
Prepayments and accrued income
4,806
4.071
557
2,423
11,857
2,060
2,670
4,730
CREDITORS: Arnountsfalling due within one year
2024
2023
Accruals and deferred income
Other taxation and social security
Other creditors
13,715
1,125
14,111
28,951
5,491
11,288
16,779
22

ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
7. MOVEMENT IN FUNDS
Movement In Funds 2024 1st January
2024
Incomlng
rasourcos
Outgoing
resources
31st Decamber
2024
Unrestrfcted funds
General Fund
Designated Fund
Unrestrfcted funds
Restricted funds
Stmch Maintenance
stmch Music
Stmch running costs
Stmch Staff
Grants from LPW
174.899
18,052
192.951
150,381
3,821
154,202
1140,293)
3,447
143.740
184.987
18.426
203.413
93.491
30,218
18.782
78.477
17,156
238.124
2.590
(93.491)
(30.218)
(18,782}
(78.4771
17.156
238,124
12,2531
14511
7.597
10.301
392.165
Welfare & Hospitality
Spiritual Resources
Tower Refurbishment
Restricted funds
Total Funds
4.796
1.868
156,463
163,127
356,078
5,133
1,417
162,039
168.589
372.002
13.173
15.763
408.089
Movement In Funds 2023 1st January
2023
Incomlng
resources
Outgolng
resources
31st December
2023
Unrestrlcted funds
General Fund
Designated Fund
Unrestricted funds
Restricted funds
Stmch Maintenance
Stmch Music
stmch running costs
Stmch Staff
144.589
15.999
160,588
153,222
4.802
158.024
(122.9121
2,749
125.661
174,899
18,052
192.951
22.312
32.833
22,924
81.250
159.319
5,796
1.750
750
17.143
25,439
342,782
{22,312)
(32.833)
(22.924)
81,250
{159.319}
12.4701
(793)
Welfara
Spiritual Resources
Hospitality
Tower Refurbishment
Restricted funds
Total Funds
720
911
4,046
1,868
750
156.463
163.127
356 078
143.124
144,755
305 343
3,804
7.067
292.047
Note..
The General fund is cOmpr￿Sed of all assets and liabilities other than those held in reslricled funds. The four SIMCh
restricted funds are funds given by Sl Michael's charities for agreed expenditure relating lo maintenance, music,
stsff, healing and lighting costs.
Welfare- This fund is for welfare purposes of individuals whom the vicar identifies as being in need. Hospi181ity
Fund is providing morning service refreshments.
Spiritual Resources -41ems the vicar gives lo individuals lo help them develop their Christian faith.
23

ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2024
8. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Analysis of Net Assets between Funds 2024
Unrestricted funds
Restricted funds
Total funds
Tangible fixed assets
Current assets
Current liabilities
1,813
218,121
116,521}
203,413
1,813
399, 140
(28,951}
372,002
181,019
(12,430)
168,589
Analysis of Net Assets between Funds 2023
Unrestricted funds
Restricted funds
Total funds
Tangible fixed assets
Current asset5
Current liabilities
2,922
196,027
(5,9981
192,951
2,922
369,935
116,7791
356,078
173,908
(10,781)
163,127
24

ST MICHAEL AT THE NORTH GATE AND ST MARI'IN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
9. TOWER SHOP STOCK
The charge within the accounts is stated after adjusting for year-end stock values
2024
Tower Shop
stock
2023
Tower Shop
stock
Opening stock valuation
Purchased during the year
5,224
8,482
13,706
4,864
8,572
13,436
Closing stock valuation
Cost of goods sold during the year
14.9541
8,752
15,2241
8,212
10. AGENCY COLLECTIONS
During the year, the charity collected funds totalling £6,808 {2023= £4,364) and
paid funds totalling £6.708 (2023.. £4,687) in respect of agency collections. At 31
December 2024, the charity owed £100 (2023.. £323) in respect of agency
collections.
25

ST MICHAEL AT THE NORTH GATE AND ST MART￿ AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12. DEBTORS
2024
2023
Debtors
A4 Saturday
A4 Thursday
A4 Tuesday
A4Wednesday
ACA Tuesday
Churches Fire
Hertrord College Music Society
James Ferriman
New Choir
Oxford Polish Society
Oxford Samaritans
Tower Shop takings
Oxford Deanery
Oxford Pastorate
HMRC Tax & Nl credit
Amount owed to St Michael Charities
60
240
100
50
234
30
100
35
472
31
461
120
286
155
215
28
4,806
4,071
9,434
2,060
Prepayments
Oxford City Council tax
PHS Sanitary Disposal
F.G. Adens Ltd
Ecclesiastical Insurance
MGI air conditioning
RSCM licences
351
129
554
1,326
173
137
2,670
272
117
554
1,312
168
2,423
Total Debtorn & Pre
ments
4,73Q
11,857
26

ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13. CREDITORS
2024
2023
Creditors
F.G. Aldens Ltd
Alfresco Group Ltd
A. Buckley
Banbury Digital
Barclaycard
Bluespires
Church Workers Pension Fund
Ecclesiastical Insurance
HMRC
House of Flags
MGI
Monard Electrical Contractors
Choral Scholars
Oxford City Council
Oxford Direct Services
Pete Dooland Roofing
Taylors Pianos
Total Gas & Power
Trading for Development
Viking
Eden stock purchases
Executive Alarms
TMD Media
Pat Earl Expenses
Thames Water
664
30
268
267
21
344
1,856
961
1,125
774
173
621
3,400
284
22
2.759
927
2.344
223
1,152
96
3,562
111
162
3.316
216
134
36
220
94
10.955
15,236
Accruals
St Michael Charities
R. Pantcheff
Wenn Townsend
Monard Electrical Contractors
Bluespires
Holiday pay provision
Agency Collections
Church Workers Pension Fund
HMRC
Castle Water
DM Music
Total Credltors & Accruals
Credltors & Accruals
2.549
454
1.000
2.432
4,087
1.206
100
1.115
772
1,000
1.000
43
3,781
5,824
16,779
13,715
28.951
27