St Mlchael at the North Gats wlth St Martin and All Saints FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Charlty Number: 1148900
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SATs TRUSTEES'ANNUALREPORT STRUCTURE. GOVERNANCEAND MANAGEMENT OBJECTIVES AND AcfiviTIES Mulli-use premises Churches Tog8lher Finance and Propertles Staff REVIEW OF THE YEAR 2025- FINANCE STATEMENT OF FINANCIAL ACTIVITIES 13 BALANCE SHEET 14 NOTES TO THE FINANCIAL STATEMENTS 14 GENERAL INFORMATION SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF THE FUNDS CASHFLOW STATEMENT UNRESTRICTED INCOME & EXPENDITURE UNRESTRICTED- Tower Shop RESTRICTED - Tower Refurbishment, Welfare & Spiritual Resour¢es RESTRICTED INCOME & EXPENDITURE- Sl Michael Charities STAFF COSTS TANGIBLE FIXED ASSETS MOVEMENT IN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS TOWER SHOPSTOCK 70. AGENCYCOLLECnONS 72. DEBTORS 13. CREDITORS 14 14 18 20 20 21 22 23 24 25 26 26 27 28
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS CHARITY INFORMATION - for THE YEAR ENDED 31 DECEMBER 2025 PAROCHIAL CHURCH COUNCIL 2024-2025 Revd Anthony Butkley (Vicar, Chairman) Revd John Smallman (Curate) Revd Canon Charles Raven IPriest with PTOI Prof Andrew Spicer {Churchwardenl Mr Matthew Lebus Ichurchwardenl Mrs Penelope Warner (Safeguarding Officer) Miss Prudence Dailey lex officiol Dr Myriam Burstow Mrs Eve Hitchens Mrs Pat Earl Mr Martin Palmer MrThomas Dixon Dr Audrey Southgate Mrs Sasha Raven Mrs Louise Roques Miss Sophie Greenwood Mrs Catriona Howatson In Attendance: Mr David Frostick (Electoral Roll Officer) Mr Michael Collier (Treasurer) Ms Rachael Peace Ichurch Caretaker) Ms Terrie Jenkins (Fire Officer, elected 231111231 Mi55 Frances Buckley (Secretary from 131111241 Mrs Monica Buckley (Health and Safety Officer, elected 3191251 Mr Davld Elliott IAssistant Minister) STANDING cOMMIEE Revd Anthony Buckley Ivicarl Prof Andrew Spicer (Churchwardenl Mr Matthew Lebus (Churchwardenl FINANCE COMMITTEE Revd Anthony Buckley (Vicarl Prof Andrew Spicer IChurchwarden} Mr Matthew Lebus Ichurchwardenl Dr Myriam Burstow (Church Adminlstratorl Mr Michael Collier (Treasurer) DEANERYSYNOD MEMBERS Miss Prudente Dailey lex officlol Prof Andrew Spicer Dr Myriam Burstow Mrs Eve Hitchens ADDRESS The Parish Church of St Michael at the North Gate Cornmarket Street, Oxford, OXI 3EY CHARITY NUMBER 114891XJ
ST MICHABL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Vlsion.. St Michael at the North Gate, in the centre of Oxford, is a Christian community with a civic calling and a city-centre ministry, with Chrlstian hospitality at its heart. As a parish Church of the Church of England, St. Michaels holds regular acts of public worshipi provides space for private reflection and prayer, offers opportunities for spiritual growth and seeks to serve the whole community. As Oxford's City Church, St M ichaels holds civlc services and relates regularly to the City Councll- Its elected members, its staff and its programmes. By virtue of his appolntment, the Vlcar is the City Rector, and attends Council meetin8S. St M ichaels location in the city centre sives the Church the opportunity to welcome and serve all who work in the city or come as vlsitors. The Parochial Church Council IPCCI 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 Michae15 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 2025 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 15 a corporate body established by the Church of England, and operates under the Parochial Church Council Powers Measure. PCC5 are required to register with the Charity Commission. Regular worshipper5 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 twelve elected positions available on PCC for 2025 and the Churchwardens, Clergy and members of the Deanery and General Synods are members ex officio. The PCC meets six to eight tlmes per year. The PCC appoints the Treasurer and Chairman for the conduct of meetin85. Minutes throughout 2025 were kept by Frances Buckley as PCC Secretary.
ST MICHAEL AT THE NORTH GATE AND ST MARTLN AND ALL SAINTS The PCC receives reports from the Fabric Committee, from the Finance Committee, from the Deanery Synod representatives, from Churches Together In Central Oxford and from the Electoral Roll. the Fire Safety, the Health and Safety, and the Safeguarding Officers. 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 actlvlties 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. Michaels serves the public benefit by providing access and activities which are open to all, givin8 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 PCCS commitment to the misslon of St Michaels is shown bv: providing open and acce55ible services of worship and teachin& 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. Mlchaels; opening the Church every day for public access for personal quiet and prayer, acts of worship, and for the enjoyment of the historlcal heritage: holding regular cultural activities in the Church, both those run by St Michaels 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,. supportin8 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 the finances and maintaining the buildings to serve the overall mission; employing staff to support the public role of St Michaels. The Vicar's Report Many thanks everyone for another blessed year at St Michaels and we 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 2025. Numbers continued to increase and an ongoing need will be to work out how to resource our welcome, teaching and fellowshlp. We continue to be grateful for the muslc, and for Richard Pantcheff, our Dlrector of Music. In addition to our professional choir the North Gate Voices, our new volunteer choir, has firmly bedded in, singing once a month. Term-time Catechism meetings have continued to be a blessing, as has the Tuesday Bible Study. There have been a good variety of events for the Oxford Centre for Spiritual Growth. Tower Treasures flourished, and gently came to an end when some key children started school and families moved away. We look forward to developing this ministry a8ain in 2026. Eve Hltchens was licensed as a Lay Minister in the Autumn, and has taking part in public ministry, Thanks to her, David Elliott. Charles Raven and Richard Small. It has also been a joy to have ordinands on placement with us, and indeed several others considering discernment to authorised ministry.
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SATs We remember those who have been bereaved and those who died. Each one is a deep sadness, but perhaps, in terms of the life of St Michaels, It Is right to honour Bob Earl, who gave so much to this church for over sixty years, and who died in January 2025. We continue to be grateful for the tremendous work behind the scenes which ensures that the finances, buildings, administration, compliance and 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 thanks and prayers for the Tower Restoration Project). As mentioned in last yearfs report, the PCC continue5 to look forward, and an Away Morning Is planned for February 2026. There we will be exploring good governance and resourcin& our outward-looking mission (near and far), and the values we should hold and live out. Multi-use premises The Church Rooms are proving very popular again with the AA Groups, and were used regularly last year by: Alcoholics Anonymous18 group5, all on a weekly baslsl; Adult Chlldren of Alcoholics. These groups are very appreciative of the space and well attended - there is also a new group starting this year. The Oxford Polish Association Group - Hertford College IAction against loneliness) continue to hold monthly meetings in the Parish Rooms throughout the year. The same applies for the Prayer Book Society", The Samaritans and the Oxford Pastorate, as we continue to host their meetings for worship throughout the year. Also. in year 2025, the Tower room have been used for missionary one-to-one meetings to conduct Diocesan business with prospective ordinands. OWNS (Oxford Winter Nlght Shelter} used our premises for a night shelter again in the winter of 2025126. The Oxford Centre for Spiritual Growth actively organlsed 6 events for the community in 2025, offering a variety of approaches, involving reflective practice and increasing awareness of self, others and reality: and finding Spiritual growth in landscapes, such as arts, music and media technologv. Choirs and musical groups and others also continue to use the building for rehearsals and performances, including: the Oxford Bach Soloists,. City Singers,. the vox Chamber Choir; the New Choir; Arcadian Singers: Milady Clare's Musicke,. Pavlova Winds and Wild Goose Theatre amongst other occasional bookings. Simllarly, 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 nominated by the musicians. The PCC has continued the arrangement with Taylors Pianos for the placement in the Church of one of their fine Yamaha pianos for use in the concerts. St. Michaels participated again in Oxford Open Doors last year, and wlth a record number of visitors to the church and tower. Similarly, the Saxon Tower was visited by School groups, as well as tourists particularly when the Tower reopened after the refurbishment. Again. as well as regular hirers of the Parish rooms, there were also ad-hoc and occasional bookings for use of the rooms. The space was used for the first time for workshop by the Atlasslan Community for tech leaders, and we continue to host their workshops in the CLFrrent year. In the week, the rooms are used also by members of the church, to work, read and find fellowship as well as worship. Again, for fee paying groups discretion is used to give discounted access to charitable activities and charges are modest.
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAtNTS Churches Together St Mlchaels is a part of the Churches Together in Central Oxford ICTCOI group. As such we support: The Gatehouse drop-in centre forthe homeless, housed in the Parish Room of St Giles, Church, which was started from the ecumenical commitment of the Churches; St. Michaels assists the Gatehouse with finance and voluntary help. CTCO appoints the Chaplain for the Homeless, and prayer meetings for the homeless are held in different Churches, including St Michaels. CTCO through OWNS also SUPPOrts The Living Room,, a day centre where homeless guests receive h05Pitality and help in the form of showers, the opportunity to wash clothes and use of laptops. St Michaels is one of the founder churches to participate in the Oxford Winter Night Shelter IOWNSI. also supported by CTCO. St Michaels once again offered their Parish Room on a Wednesday night in January, February and March 2025 to accommodate 10 homeless guests. Jesus College also asslsts us in providing and laundering the linen and blankets. St Michaels and Jesus College provide the refreshments 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. Michaels, as fully reported in the accounts. St. Michaels Church benefits to a significant extent from the financial support of the St. Mlchaels and All Saints Charities, which are committed to underwriting church repairs, as well as contractor maintenance, utility and insurance expenses. and St Michaels clergy and music costs. This is in addition to providing a proportion of their income to local charities. They have provided further support through the funding of St Michaels administrative staff costs but this, like the extent of any additional local charity grants, depends on the ability of their reserves to accommodate this. The Vicar and Churchwardens serve as ex officio Trustees of the Charities. along with other Trustees nominated by the PCC. Trinity Church continues to use the basement of the Parish Rooms for the administration of their religious activities and Oxford City Council succeeded in finding a new tenant for the churchyard area at the base of the Tower: Golden Cup Ltd, who operate as an Italian-themed coffee and sandwich provider, are now in place and operational. After the extensive Fire Risk assessment related works in 2024, further major fabric repairs were undertaken last year. The Saxon Tower.. Following surveys relatlng to the tower refurbishment project, between Easter and September 2025, the tower roofwas replaced and structure made watertight. Before this work began, asbestos was removed from nearthe top ofthe tower via the roof. This was supported by the diocesan Minor Grants and Improvement Fund. The lead from the tower roof was removed so it could be recycled forthe replacement work. The roof structure dated from the twentieth century rather than a more ancient structure and was generally in good order, with only one beam requiring replacement. The matting around the parapet has been replaced with something that will allow water to evaporate. This has been extended on to the roof to provide more protection for the lead. The exit on to the roof was rebuilt which meant that the final step of the Internal staircase and external steps on the east side of the parapet could be altered to be more even and comply with current building
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAIwrs regulations. The internal parapet wall was repointed with lime mortar, replacing the exlstlng cement. The safety railings have been replaced and raised to conform with regulations. Scaffolding on the south side of the tower allowed for some repointing of the external wall, where water was penetrating the cement pointing leading to vegetation growth. The clock face and tie plns were repainted. The netting which served as a deterrent for pigeons was in good order and minor repairs were undertaken. Netting was installed across the 5anctU5 bell opening as well as at the uppermost opening on the south side. Internally the plaster board and one superfluous beam, which had been installed with the staircase in the 1980s, were removed to reveal the original beams and underside of the roof. The existing steel beams were rusty and repainted ox-blood red to match the bell frame. The internal scaffolding in the upper level of the tower meant that the walls could be cleaned and re-limewashed. New emergency lighting was installed and the fire monitor moved to a more unobtrusive location. The opening for the sanctus bell was previously covered by a plywood frame to prevent pigeon Ingress. Installing new nettin8 meant that this frame could be removed meaning that the eighteenth-century sanctus bell can now be seen by visitors, but also allows more light into the roof space. The bearings and clapper of the sanctus bell were found to be in a poor state,. the bell was removed by Whites of Appleton, repaired then rehung and re-roped. The work on the tower was undertaken by Lang Conservation Ltd with Hestia Architects Ltd. The cost of the work was supported by grants from Oxford Historic Churches Trust, the Tambour Foundation, St Michaels and All Saints, Charitles as well as private donations. Elsewhere in the church: Work was undertaken to address issues ralsed following a diocesan energy audit completed in October 2024. While most of the lights had been converted to LED, the remaining ones in the offices and parish rooms have now been replaced. The external vestry door was replaced with one which was more thermally efficient and also with an internal catch. It can now be opened from inside without a key, thereby providing an emergency exit. In addition, the roof Ilght in the vestry wa5 replaced by an insulated panel. Subsequently the rooflights in the kitchen and the reception area were replaced by similar thermally efficient units with the support of a diocesan grant. The vestry was also recarpeted. The asbestos tiles at the entrance to the Parish Room, which had cracked and thereby posed a potential hazard, were replaced. Adjustments were also made to improve the fire protection afforded by the hatch doors and entrance to the kitchen by replacing the brushes and removing the lock. The city council employed D.A. Miles & Sons to relay the uneven slabs on part of the site on the corner of Ship Street and Cornmarket. The same contractors were also employed by the PCC in a meeting with council representative to examine possible tree root damage to the shop, which proved to be inconclusive. The internal glass doors at the south door and in the shop area have been rehung and the fittings secured. Staff The PCC employ 11 staff across St Michaels in the followlng roles: Richard Pantcheff in the part-time role of Director of Music. Since taking up this role in September 2024 Richard has continued to work diligently to direct & manage not only a professional choir but has introduced a very successful voluntary choir who sing one Sunday a month. Myriam Burstow, Church Administrator {Operations Manager}, returned from maternity leave on 1st October 2025 working 2,5 days per week whilst taking accrued annual leave for the other 2.5 days & is currently workin8 a 4-day week as part of a phased returned to work. Aleksandra Stardelova increased her
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS worklng week to 4 days to cover Myriam's maternity leave & continued to support the Admin Office to cover Myriam's annual leave until 31, December 2025. Aleksandra was allocated I day per week to work with Finance as from I, October. This proved challenging timewi5e as she could not be released from her role as Operations Coordinator. Maggie Worsfold also worked some extra hours to cover in Myrlam's absence whilst continuing in her Finance role. Nadia Bereza has helped in the Admin Office and provided valuable support. Mike Collier has continued, on a voluntary basis, as PCC Treasurer. Mike announced his decision to stand down as Treasurer at the end of December 2025 and after completing the 2025 accounts. Rachael Peace continued her Caretaking role & elected to support Monica Buckley with Health & Safety. Simon Ballard, Terrie Jenkins & Nada Harlin8 continued to be employed as part-time Shopnower Assistants. Alongside Nadia Bereza, Jonathan McNally & Nada Harling St Michae15 was able to offer extended hours to allow both the Shopnower & Church to remaln open later allowing additional time for worship and visitors by staffing the Shop until 6 pm. Terrie continues in the role of Fires Safety Officer & ran a Fire Training Course for all StafflPCC in November. Pete Watson, a local musician with experience in orEanising concerts, has kindly continued to look after Music on Mondays, and has been assisted by Natalia Kakarkina. Jo Collier & Eliza Rayner serviced tealcoffee to the audience and ensured all washing up was done. We have continued to be very grateful for so much help from so many volunteers; St Michaels would not be the same without you. REVIEWOF THE YEAR 2025- FINANCE The total of Restricted and Unrestricted income in 2025 was £534,996 compared with £408,089 in 2024 and the combined expenditure in both funds was £524,705 compared with £392,165 in 2024 resulting in a net income of £10,291 compared with £15,924 in 2024. The major changes in income and expenditure are due to the Tower re-roofing project between May and October 2025, requiring grant funding and major expenditure, as well as the closure of the Tower shop with consequent loss of income from visitors. A table in Note 4 summarizes the Contractors, actual expenditure and fees totaling £221,384 and the various sources of funding. St Michael Charities £160,000 funding for it was restricted and therefore shown under Restricted Funds with the same allocation of expenditure. Funding from Historlc Churches Trust and the Diocese of Oxford was designated to Tower re-roofing. A table in Note I shows the designated Income and expenditure as part of Unrestrlcted Funds along with grants allocated from the List Places of Worship Scheme ILPWI relatingto VAT on the maintenance costs. The impact of closing the Tower to admissions for just over five months is reflected in lower Admlssions income.. £31,677 compared with £54,010 in 2024. The shop remained open and sales of stock were maintained, increaslng to £17,573 for the year compared with £15,685 in 2024. The overall result was a net loss from trading of £23,862 and net cost of £25,026 including maintenance compared with a net cost of £2,704 In 2024. Unrestricted Funds - income received wlthout any restriction on its use Unrestricted income excluding the shop and income designated for speciflc purposes increased to £107,280 from £95,771 in 2024. This was principally due to higher tax recoveries on Gift Aid, malnly a timing issue of receiving one-off donations at the end of the prior year and making claims in the following.
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SANTS Grants from the Llsted Places of Worship Scheme ILPWI were £7,060 compared with £1,000 in 2024 again an increase mainly due to timing: rules that permitted claiming for prior year fees only when the contract start date was known, also the tlme to vet claims and pass for payment. Additional income of £4,767 was received from letting the church forecourt, offset by reduced Income from lettings of the church and Parish rooms £18,926 (2024: 24,146). Other funds generated in 2025 included an award of £3,000 for an energv audit. Expenditure from Unrestricted funds increased to £83,860 from £82,990 in 2024. Within that, an increase in Ministry related expenditure £61,13912024: £56,381) was due to higher Parish Share and a full year with an Assistant Minister. That increase was largely offset by a reduction in Administration costs to £22,721 12024.. £26,609). Admlnistrative expenditure in 2024 included a provision of £4,086 for the cost of migrating of data from the server to Sharepoint. Without that cost In 2025, expenditure was broadly the same. Designated Funds- income received for a nominated purpose but not formally Restricted Grants were received from Historic Churches Trust £35,C(JO and £4.813 from the Diocese of Oxford towards the Tower Roof repairs. Grants were also received from LPW for maintenance of fabric and £21,571 of these have been allocated for Tower re-roofing matching the Major Maintenance expenditure. The total Deslgnated Income £61,384 for Tower Roof Repairs has been applied to the nominated purpose as shown in Note l. Unrestricted and Designated Funds. The Oxford Centre for Spiritual Growth IOCSGI is a separate Designated Fund, also included in Note l. The income of £219 in 202512024.. £3.8211 is after a donation from the funds reserves of £2.000 towards the Tower Refurbishment Fund. It is recorded in the Refurbishment Fund as income, hence a reduction of income in the OCSG fund. Expenditure from the Fund was £3,88112024: £3,446) and Includes an allocation of £2,296 for an Administration Assistant undertaking the organization and administration of OCSG events. Re8trieted Funds - income received for a specifie purpose - St Michael Charities (Stmch) Grants recelved from 5tMCh for budgeted expenditure were £164,50012024 £138,CKIOI. Expenditure was £153,42112024: £143,111) and therefore under budget by £11,07912024'. over budget by £5,111), which 15 repayable to the Charities. Running costs were £6,793 below budget which included a large contingency becavse of the uncertainty of energy costs in the summer of 2024, but also how much IT support costs would reduce once Sharepoint was in use and the server and back-ups no longer needed. Staff costs were £6,971 under budget wlth actual costs lower due to an extended maternity leave and re-arrangements for cover. Music costs were £2,238 under the budget of £40,000. Maintenance costs were £4,923 over budget because there were several unavoidable minor repairs. A further £160,00012024: £93,4281 in grants was claimed from Stmch during the year as certified contractors, bills were presented for Tower Major Maintenance expenditure and related supervision fees. Restricted Fund5 - Tower Refurbishment, Welfare and Spiritual Resourees The Tower Refurbishment fund received donations of £9,39712024'. £5,588} and interest on deposits of £6,80812024'. £7,585) while disbursements were £4,96412024: £7,597) giving a net income of £11,241 12024: £5,576). Added to the balance in the fund at the beginning of the year £162,039 gave a balance of £173,280 to carry forward into 2026.
ST cHAEL AT THE NORTH OATE AND ST MARTIN AND ALL SAINrs Donatlons to the Welfare fund were £4,81012024'. £2.5901 with disbursements of £43012024: £2,253) 81ving a net Income of £4,38012024'. £3371 and leaving a balance of £9,513 in the fund at 31 December 2025. Donatlons for Splrltual Resources £nll {2024: £nlll and expendlture was £6212024.. £451} leavlng a balance in the fund of £1,355 at the end of 2025. Note 7 entltled'movementln Funds, In the Flnanclal Ststements shows a summary of the balances brought forward In each Fund, the Income and expendlture durlng the year and the balances carried fomard Into 2026. Balance Sheet Advantage was taken of hl8h Interest rates avallable on deposlts and a further £30,000 placed on the Church No.1 deposlt account Increaslng It to £180,196 (2024.. £150,196}, Monles were withdrawn from the Tower dep051t account malnly because of the reduced Tower Admlsslons revenue normally avallable to fund shop operating costs. Withdrawals of £30,000 less Interest of £8,478 added to the account resulted In a reduced balance of £186,29012024,. E207,8121. Current Liabilities £49,71512024: £28,951) included credltors, accruals and deferred Income. Credltors £32,12312024: £23,642) were Involced or clalmed amounts not yet pald at 31 December. Accruals £,79312024. £5,309) were made for bllls not yet retslved. Deferred Income £1,79912024.' nil) was from Involce5 issued for lettlngs booked In advance for 2026. Total bank balances, cash cards. floats and deposlts wlth CCL4 Investment Management at the 31 December 2025 were £415,753 {2024: £389,456}. Deducting the net amounts owed to CredltorslDebtors £41,85812024: £24,221) the liquid assets were £373,895 {2024: £365,235). Reserves Po]iey The trustees have revlewed the financlal needs of the charlty and conslder that they should aim to have sufficient unrestrlrted funds av311able to ensure that should there be a short-term loss of Income there would be sufficient funds avallable to meet operating costs for slx months. As of 31 December 2025, the charltls unrestrltted reserves totaled £198,14512024: £203,413). Thls Induded £14,764 of desl8nated funds {2024: £18,426). Total funds of the charlty as of 31 December 2025 were £382,29312024: £372,002) of which £184,148 was in restrltted funds12024.' 168,5891. Thls report was approved by the Trustees on 29 Aprll 2026. Mlchael Colller Treasurer
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAtNTS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MICHAEL AT THE NORTH GATE CHURCH PCC I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2025 which are set out on pages 12 to 27. Responsibilities and basis of report As the charity'5 trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the charitrfs 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{5llbl of the Act. Independent examiner's statement Since the charltvs 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 examlnation because l 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 the accounts do not accord with those records; or 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 requlrement that the accounts give a 'true and falr 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 thls report in order to enable a proper understanding of the accounts to be reached. Lee Baker FCA Wenn Townsend Chartered Accountants Oxford 29th April 2026 12
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SANTS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 STAYEMENTOF FJNANOAt AcfiviTIÉS FOR YEAR ENDED 310ECEMBER 2025 20Z5 2024 Unrestrkted Re5trlcted Funds Funds Unre5trkted RÈstrl¢t¢d Funds Funds Total Funds T)t•l Fuhds INCOME OonatlonsandBrants Gr¥ntsfr(¥n LPWs¢heme Inve5trnent Income Irent5llntere5tl Income from charltable actiwties lrtcome from othertrading attltIeS Other Incomin8 resources Total 5ncomlng resources 96.285 28.631 25,041 18.926 31.677 327.628 423.913 28.631 3L849 18,926 31,677 48M02 229,146 17,156 7,585 277.548 17,756 28,876 24.146 54,010 S,753 408.089 60OB 2L291 24,146 54,010 5,753 154,202 200,560 334,436 534,996 253.887 EXPENDITURE Expendfture on charttable aft[e$.. Dlrectw related tocouncll's oblectlves Management and administratbn Costs of r415ing fvnds: Expenditure relatedto tradlnE Total eXPendUre 126,404 21721 217,185 101,692 343,589 124A13 58,289 28,137 151166 97.259 209,455 125396 56,703 205,828 56.703 514,705 57.314 143,740 57,314 39L165 318,877 248,425 NET INCOME I (EXPENOITUREI 15.2681 15.559 10.291 IOA62 5,461 15,9Z4 NET MQVEMEITh IN FUNDS Totals fundsbrought forward .2681 203.413 15.559 168.589 10,291 372.002 10,462 192,951 5.462 163.127 15.924 356.078 TOTAL FUNDS CARRIED FORWARD 198,145 154,148 382.293 203,411 168,589 371002 13
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINrs BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2025 BALANCE SHEET FOR YEAR ENDED 31 DECEMBER 2025 2025 2024 FIXED ASSETS Tangible assets 1,217 1,813 CURRENT ASSETS Bank Current account Tower Bank account Cash In hand ond Pettycash card Charities deposit account No. I Charitles deposit account No.2 (Tower) Total Cash, Bank accounts and Deposlts Stock Debtors and prepayments other Current Assets Total Current Assets CURRENT LIABILITIES Creditors: Amounts fallin8 due within one year 28.675 19,585 1,007 180,196 186.290 415,753 7,181 7,857 15,038 430.791 13,214 17,649 585 150,196 207,812 389,456 4,954 4,730 9.684 399,140 49,715 28,951 NET CURRENT ASSETS NET ASSETS 381,076 382,293 370,189 372.002 THE FUNDS OFTHE CHARITY Restricted funds Unrestrlcted funds TOTAL CHARITY FUNDS 184,148 198,145 382.293 168,589 203.413 372,002 Approved by the Parochial Church Council on 291h Aprll 2026 and signed on ils behalf by the following Name: Prof Andrew Spicer, Warden, Commlllee Memt*r Name.. Matthew Lebus. Warden, Commlttee Member Slgnature............ Signature....... Charlty number: 1148900 14
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 GENERAL INFORMATION St Mlchael at the Northgate with St Martin and All Salnts Is a reglstÈred charity and is a public benefit entity. It5 prinapal office Is.. 5t Michael at the North Gate Cornmarket Streel Oxford OXI 3EY Tel.. 01865 240940 The flnancial statements are presented in Sterlin& which is the fun¢tional currency of the charlty. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basls of preparatlon and assessmont of ongoing concern The a¢counts Ifinanclal statements) have been prepared under the historical cost wnventlon wlth Items recoBnized at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with AccountSng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparin8 their a¢¢ounts in accordance wlth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (issued October 20191 Icharltles SORP IFRS 10211 and the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021. The Charlty constitutes a public benefit entity as defined by FRS 102. In¢omlng Resources Incomlng resources represent income reIvable from those source5 listed in Notes 14. Voluntary income including donations and glfts are included in the Statement of Financial Activities when the charity Is legally entitled to the income and the amount can be quantified with reasonable accuracv. Income from ¢harltable activities and other trading activities is recogni5ed as earned. Investment income Is reco8nised on a receivable basls. Income from grants Is recognlsed when the charity has entltlement tts the funds, any performance condltlons attached to the grants have been met, it Is probable that the income will be received and the amount can be measured rellably and is not deferred. 14
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Icontlnued.. .) Tanglble fixed assets Flxed assets are carrled at cost less accumulated depreciation and accumulated Impalrment losses. Depreciation has been provided at the followin8 rates so as to write off the cost less residual value of the assets over thelr estlmated useful lives. Computer equipment Fixtures and fittings Stralght Ilne ba51s at 25% per annum 5tralght line basis at IO% per annum On disposal, the dlfference between the net disposal proceeds and the carrying amount of the Item sold is recognised in the statement of financlal a¢tivlties and Included in management and administrative expenses. FlnantSal Instruments The company only èntèrs into baslc flnanclal Instruments transactions that result in ihe recognStlon of fSnancial assets and liabilities like trade and other accounts recelvable and payable, loans from banks and other third parties. loans to related parties and investments in non-puttable ordinary shares. Financlal assets are measured at cost and are assessed at the end of each reporting period for oblectlve evidence of impairment. Where objective evidence of Impalrmentls found, an lrnpairment Ios5 15 recognised in the statement of flnancial activities. The impairment loss for financial assets measured at C05t is measured a5 the difference between an assevs car¥ying amount and the best estlmate, whS¢h is an approxSmatlon. of the amount that the company would recelve for the asset were it to be sold at the reporting date. Financlal assets and Ilabllitles are offset and the net amount Teported in the balance sheet when there is an enforceable right to set off the recogni5ed amount and there is an intention to settle on a net basi5 or to realise the asset and settle the liability simultaneously. Impairmgnt of non-flnanclal assets Al each reporting date non-financial assets not carried at fair value, Ilke 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 Impalrment, the rÈcoverable amount of any asset or group of related assets Iwhich Is the hlghey of value in use and fair value less cost to selll is estimated and compared wlth Its carrylng amount. If the recoverable amount is lower, the carrySng amount of the asset is reduced to its recoverablè amount and an impairment loss is recognised immediately in the statement of financlal activSties. Stocks are also assessed foy Impalrment at each reporting date. The carrying amount of each item of stock, gr group of similar items, is compared with its selling pr1 less cost to complete and sell. If an item of Stock, or gioup of similar items. is Impaired its tarrying amount is reduced to Selling price less tost to complete and sell, and an impairment1055 is recognised Immediately in the statement of financlal activities. 15
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAtNTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Icontlnued...) If an ImpalrmÈnt loss Is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revlsed estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment105s been reco8ni5ed for the asset, or group of related assets, in prior periods. A reversal of an Impalrment loss is recognlsed Immediately in the statement of financial activities. Debtors Short term debtors are measured at transaclion price, les5 any impairment. Credltors Short term trade creditors are measured at the transaction price. Other flnanclal liabilities, including bank loans, are measured Inltially at fair value, net of transaction costs, and subsequently at amortlsed cost. Stock Stock has been valued at the lower of cost and estirnated sellin8 price lèss cost to complete and sell, after making due allowan for obsolete and slow-movlng items. Cost comprlses the c05t of goods purchased valued on a standard cost basis. The carrying amount of stock sold is recognised a5 an expense in the period in which the related income 15 recognised. Resources expended All expendSture is included on an accruals basis and Is retognlsed when there is a legal or constTUCtive obligation to pay for such expenditure. Resource5 are expended in the furtherance of the charity's oblectNes. Any allocation of resources expended between the activitie5 of the charity have been apportioned on a direct basi5. Value Added Tax As the chailty Is not registered for Value Added Tax, all costs are VAT inclusive. Church Workers Penslon Fund {CWPFI St Mlchael at the North Gate church participates In the PensSon 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 churth and the other participating employer5. CWPF has two sections.. the Deflned Benefits Scheme the Pension Builder Scheme, which ha5 two 5ub5ections,' a deferied annuity section known as Pension Builder Classic, and a cash balance section known as Pension Builder 2014. 16
ST MICHAEL AT THE NORTH GATE AND ST MARTfN AND ALL SANTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (contlnued...) Pensions Icontlnued...) Pension Bullder S¢heme Both section5 of the Penslon 8ullder Scheme are classed as defined benefit schemes. Penslon Builder Classlt prov1des a penslon, accumulated from tontributitsns paid and converted into a deferred annuity during errployment based on term5 set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending upon the investment returns and other lactors. PensSon Bullder 2014 Is a cash balance scheme that provides a lump sum that mernber5 use to provide benefit5 at retirement. Pension contributions are recorded in an account for each member. Discretionaiy bonuses may be added before ietirement, depending on Investment returns and other factors. The account, plus any bonuses declared Is payable, unreduced, from age 65. There 15 ng sub-division of a55et5 between employer5 in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in SectSon 28 01 FRS 102. Thls Is because It Is not possible to attribute the Pension Builder Scheme's assets and Ilabilities to speclfic empltsyefs and m@an5 that tontributions are accounted for a5 if the Scheme were a defined contribution 5cherne. The pension5 Costs charged to the SOFA in the year are contributions payable12025'. £17,094, 2024.. £15,7021. A valvation of the Pension Builder Scheme is carried out once every three years. The most rent valuation was carrled out as at 31 December 2022. For the Pension Builder Classlc sectlon, the valuation revealed a surplus of £34.8m on the ongoing assumptlons used. At the most recent annual review effective l January 2025, the Boa¥d chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pension5 in payment in respect of p05t April 2006 service so that the pension increase was 2.7% (where usually it would be calculated based on Inflation up to 2,5%). This followed improvements in the funding positlon over 2025. There is no requirement for deficit payments at the current time. The next valuation is due a5 at 31 December 2025. For the Pension Builder 2014 section. the valuation revealed a surplus of £8.Sm on the ongolng assumptlons used. There Is no requirement for deficit payments at the current time. The legal structure of the scheme is such that if another employer fai15, St Michael at ihe 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 applled in promoting its geneTal aims. Designated funds comprise unrestricted funds that have been sel aside al the discretion of the Trustees for particular purposes. The restricted funds of the charity are funds receSved from donors for specific purpose5 and they are applied according to the donors, wishes. st Michael's Charities give reslricled giants to meet agreed mainlgnance. staff. music and running costs. 17
ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAINTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2025 Note: CASHFLOW STATEMENT for 2025 Cashflow Statement for 2025 Total Unrtstrlcted Restrl¢ted Income per Accounts Expense per Atcounts Net Income lor 2025 Add ¢hange tn FLxed Asset5 Net Flxed Assets NetFlxed Assets Change In Non-cash Current assèts Other Current Assets Other Current Assets Change In Non-cash Current Llabllltles Credltors,Accruals & Deferred Income Creditors, Accruals & Deferred Income Increase In Llquld Assèts Opening Cash, Bank account5 & Depout5 3111212024 aoslng Cash, Bank accounts & Deposits 3V1212025 31n212025 31112n025 534,996 1524,7051 10.291 200,560 1205.8281 15,2681 334,436 1318,877) 15,559 3111212024 3111¥2025 1113 1,217 596 596 3111212024 9,684 3111212025 15,038 15B541 153541 3111212024 28,951 3111212025 49,715 16,521 38,636 12A30 11,079 20,764 26.297 389.456 415,753 22.115 12,089 208,437 220.526 11,3511 14,208 181.019 195.227 18
ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAtNTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 1. UNRESTRICTED INCOME & EXPENDITURE Unttstrlrted artd Desl8nated Funds Total 2025 Totsl 2024 Toial 2025 Totsl 2024 Unre5trlcied Income exel Shop Deposft Fund Interest Deposlt Fund Interest-TowerAcc Deposit Fund Snterest- PCCACC Total Deposlt Fund Interest GEn( and Gwt Ald Bankdonatlons from IndIdal5 Just Gfvln& CAF & PayPal doThatlons Contactless dDnatSon point Gift Aid- Envelopes Loose plate collectlons Non Gift Ald One-off Donations One-off Gift Donations Tax recoverab on G6ft Ald Yotal GIng and Gift Fundraislnl Artivities Lettlngs fundraIs1r-(UrCb & rooms Lettings objectlves-thurch & rrn$ Total Fundr•hln8 AdivllRs Rental Income Aent 8a5ement Let Ifrlnrty thurchl Rent 5hlp Street Forecourt Total Rental Incorne GntS & Other In¢ome Grants- Llsted Placesof Worshlp Other funds8enerated Other income AdmSn seice$-tO0therS Weddln8 & funeral fees Unrestrktod Expendlture exshop Mlnlstry related empendlturt 2.397 MlnSstry parish share etc 6,174 aeanin8 materlals ,571 UpkeepofSeCes Clergy Expenses 20M19 Charltable donatlons 208 Staff.. Asst Mlnister 2,615 Total Mlnlstry related expense 4,188 Admlnktratlon 6.359 Admlnlstratlon & Statlonery 2,215 Bank charces maln account 4P(KJ Church Owice Photocopier 6,748 IT & SDftware 48,95Z Telecoms& Broadband Church oifice- Computers 1,212 Misc. small Éxp & ¥ofreshments 22.934 Governance & accoMtancy 24.146 Website redeveloprnent Church & P.RoomsWaste 12WI Caretaker flat expense5 Caretaker ae¢ommodatSon offset 12.1)00 Staff.. Costsof other staff Contactles5donation pointfee IMCKI Minor repalrs not stmch Staff tralnlng and development 460 Depreclatlon Charde 53B 104 102 95,771 Unrestrlcted EMPendUreexC1shOP De51gnated FuThds Mar Repalrs- stiurture- Ipartlall Mar Repalrs- asbest05fernoval Tower Repalrs-Archltectsfees O Tower Roofmalor Repalrs cmfonl Centr< forSplrltualGrowth: 720 wete redevelopment SO Staff.. Admlnlstratlon AssSstant 3,051 G%t of events Mlsc. small exp & refrethment5 1,821 Total OCSG 3.821 Total Designated Funds 99,591 Tothl Unr & Deslgnated EKpend1Ere Ne¢ Unre5trlcted Into/(ExpendItrt 1,670 5,994 7,fj64 47.068 1,141 1,864 61 44127 1,325 3,384 80 2,150 4,615 56.381 21,360 4,Z99 2R49 5,Z81 10,965 61,139 1,177 1,303 363 2,707 ?28 2365 4,086 2.141 L310 3,746 5.146 1,762 12,286 5Z.349 304 15,922 18,926 3.220 1,280 360 156 246 I200 4.767 16,767 3,535 13.8191 951 726 7.060 4.273 2.991 1,388 1,109 L067 596 IL574 107,280 22.721 83.860 26,609 82.990 Unrestrlcted Income exclshop De518nated Funds Grant- Hlstorl¢ ChurchesTru5t fjrant- Dlocese of Oxford Grants. Listed Places of Worshlp Total Grants- Deslgnated forTower Roof O¥lord Centrt forsplrkual Grovrth: DepOt Fund Interest- PCCACC Donatlons Event Income OCSG danailonto Refurblthment fund Total OCSG Total De5rbated Fund$ Total Unreslrkled & Des*nated Income 35,000 4,813 21.571 61.384 38.724 11,550 ii,iio 61.384 610 158 1.451 I2,(0) 219 6L603 168.883 360 2.296 1,086 139 3.881 65,265 149.125 156 1,382 1,908 5,446 3,446 86.436 19.758 13.156 19
ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAINTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. UNRESTRICTED - Tower Shop Tower Shop Total 2025 Total 2024 Turnover Tower admisslons- All Ticket5 Tower Shop general sales TotalTurno¥er Cost of Sales Tower Shop Bank charges Tower Shop Merchant service fee5 Tower Shop Runnlng costs Tower Shop Staff.. Part-timers Tower Shop Stock purchase5 Total Cost of Sales Gross Profit / (Lossl Non-tradlng ¢ost5 Tower Shop Maintenance Less grants recelved Total Non-tradlng costs Net Income / IEMpenditurel 14,104 17,573 31,677 38,325 15.685 54.010 181 772 104 43,769 10,713 55.S39 123.8621 233 972 146 43.612 8,752 53.715 295 1.164 3,599 600 2.999 12,7041 1.164 {25.0261 3. RESTRICTED- Tower Refurbishment, Welfare & Spiritual Resources TowerRefurb, Wewart &Splrkual Resources To1 Yot*l Rebjrblshmertt WeWar• Fynd 2025 201$ 2025 spIrUal Résour¢os Total 2024 202S Incorne.. Bankdonatlon5from IJIdual$ Just Givln8. CAF & PayPal D(Mlailor6 NonGlftAld onoff Donallcns One-off GiftA DonatSons TOwerdOnatnS& 8r3ntS 0 thnatlon GMnt•nd GMtAld Dep05Il Fundlnterest-TowerAccount Totsl Income Éxpendkurt.. Church Marr[r$- stre Mi5C. 5mallexp& refreshTr)ent5 SpSrltual Rey)urtes spertd Welfare fundspend Total Expqndkuré 4,810 6.118 4AIO 2,590 4.770 20 6.118 1,279 1.279 698 14,107 6.808 2LOIS 9.39? 6.808 16.205 4,810 8.178 7.585 15,763 4810 4,964 62 7597 126 367 2.211 10,301 62 430 5,456 430 4,964 430 62 Net In¢omel IExptmdkur• 15.S59 11,241 4,380 1621 5.462 20
ST MICHAEL AT THE NORTH GATE AND ST MARTJN AND ALL SAINTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 4. RESTRICTED INCOME & EXPENDITURE - St Michael Charities St Mkhaefs Charklos Total Malntenante Muslc RuThnln¢ costs Staff Total 2025 164.5 2025 2025 40,000 2025 25.OOD 2025 2024 138,000 Budiet 14,500 85,000 ExpeNdUle related to PCCOblecteS. Church malnteaance seryice contract5 Insufo#ce Mlnttr repalrs Organlplanotunlng staff, Dlrectorof mUC salary& On cost Music-musklans Music other expenditure Ire¢tly related to Coun¢1 obl¢dktes Admlrtkirltlon; Church & P.Roomselertrl¢ltv Church & P.Roomseas Church & P.RoomsWater & Waste Staff.. Caretaker solary& On c05t5 Caretaker flat eXperS Staff: CJiurchAdmlnlstratU salary & On co C05tsolotherstaff Staff= Flnance Manèqer salary& Onc05t IT & Software Telecoms& Broadband Staff.. AdmlnlstratH?n A5SiStant & On cost TotalAdmlnlstratfve Co$ts Yotil ENp¢#dhure Grants ILPWlfor mlnor repalrs & donatlons Total Expendlture ks5 LPWgrant5 Eypendituie underlloverl Budget Major Malntenanc• Church major repair5-lraIIat1)n lessGrants ILPWI Major MalThtenance Major M#Sntenance less LPW Grants Total Exp¢ndlture less LPW grants Incomelorthe fund D¢Jnations 321 5,916 8,949 I37 10.883 24,860 2.019 57.185 321 5,916 8,949 1,537 2044 5.806 7.154 1,415 11,432 16,515 2,271 47,437 lo3 24.860 1019 37.762 19.423 6546 5920 2,118 17A26 3*19 16.379 1,384 15,715 2.743 880 23,306 96,236 153,421 6546 5,920 2,118 8.250 5.982 I,t148 16,788 3,555 28095 1.265 13.945 1.919 1,183 14,029 97,259 1414,696 1,585 143.111 15,1111 17A26 3A19 16,379 L384 15.715 2,743 23.3¢ 78.029 78.029 18,207 18.207 19,423 37.762 153,421 IlJ)79 19.423 14.9231 37.762 2,238 18.207 6.793 78,OZ9 6.971 160,LYJO 160,r 93A28 15,571 77.857 220,968 160,t)00 313.411 160,000 179.423 37.762 18,207 78,029 Grantsfrom LPW St Mlchael Charr(lesgrants Amount owed Itollby St. Ml¢hael CharleS Total In£omè io the fvnd 17,156 223,517 12,5491 238,124 324,500 111,0791 313,421 190,502 111,0791 179.423 37,762 18,207 78,029 37,762 18,207 78,029 21
ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAtNTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Grant Fundlng of Major Malntenance Expendlture Actual Expend Funding £193,756 £160,000 St Michael Charitles £4,968 £35,000 H15toric Churches Trust £198,724 £4,813 Dlocese grant £ii,iio £21,571 Listed Places of Worshlp £11,550 £61,384 Total Designated Grants Lang Conservation Retention monies Total Lang Conservation Architects fees 2025 Amlty Insulation Total Expenditure £221,384 £221,384 Total Fundlng The table above shows ihe final accounts for the completed stages of the Tower roof replacement including a 2.5% retention on the Lang Conservation contract, due October 2026 Subject to sat15factory performance of the roof. The retention monies have been piovided for In these 2025 Accounts. The fundlng by St Michaels Charltles £160,000 Is shown in the Restrlcted Fund table Note 4 wf(h a matchlng allocatlon of expenditure. The grants from Historic Churches Trust and Diocese of Oxford were designated for the roof repairs and with grants from LPW in respect of VAT are included in the table of Unrestricted and Designated Funds Note I wlth a slmllar allocatlon of expenditu. 5. STAFF COSTS 2025 2024 Salaries and employee costs including ernployers, natlonal Insurance Pension and life cover costs 129,800 17,094 146,894 123,606 15.702 139,308 The average number of employees was 912024.. 91. No employee earned more than £60.000 during the year The vicar daimed £165 for reimbursement of expenses12024'. £1381. Travel and other expenses of £6112024.. £801 were paid to assisting clergv. Expenses of £49212024.. £1,208) were reimbursed to other member5 of the parochial thurch counal REMUNERATION PAID TO MEMBERS OF THE PAROCHIAL CHURCH COUNCIL 2025 2024 No remuneration was paid lo members of the parochial church council for their role as Trustees. There were no other related party Iransaclions with the parochial church council during the year. 22
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAINTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 6. TANGIBLE FIXED ASSETS Computer equlpment Flxtures and fltting$ Total Cost At l January 2025 Additions Disposals At 31 Decembei 2025 8,706 25,536 34,242 (4.0561 4,650 (9.3481 16,188 13,404 20,838 Accumulated depreclation At l January 2025 Charge for year Dlsposals At 31 December 2025 8,482 144 14,0561 4.570 23,947 452 19,3481 15.051 32,429 596 (13,404} 19.621 Net book value At l January 2025 224 1,589 1,813 At 31 December 2025 80 1,137 1,217 DEBTORS 2025 2024 HMRC- Gift Aid grant Church Workers Pension Fund Other debtors Prepayments 2,648 589 2,029 2,591 2,060 2,670 CREDITORS and Deferred Income: Amounts fallingdue within one year 2025 2024 St Michael Charitles Acciua15 Taxation and social security other Creditors 11,079 4,714 3,260 28,863 47,916 1,799 49,715 13,715 1.125 14.111 28.951 Deferred Income 28,951 23
ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAtNTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 7. MOVEMENT tN FUNDS Movement In Funds 2025 Outgolng 31st December resources 2025 1st January IncomSng 2025 resources Unrestrl¢ted funds General Fund De5iEnated Fund5 Unrestricted funds Restrlcted funds Stmch Malntenance Stmch Music Stmch runnSn8 Costs Stmch Staff StMCH Major Malntenance St Mlchael Charltles Welfare Spiritual Resources Tower Refurbishment Restrlcted funds Total Funds 184,987 18,426 203.413 138,957 61,603 200.560 1140,5631 165,2651 1205,8281 183,381 14,764 198,145 19,423 37,762 18,207 78,029 160.000 313.421 410 119,4231 137,7621 118,2071 {78,0291 1160,0001 1313,4211 14301 1621 14,9641 15,4561 1524,705) 5,133 IA17 162,039 168,589 372,002 9,513 1,355 173,280 184,148 382,293 16,205 21,015 534,996 Movement In Funds 2024 tst January 2024 Incomln8 resourcÈs Outgolng 31st December resources 2024 Unrestrlcted funds General Fund Deslgnated Fund Unre$trlcted fund5 Restrlcted lunds Stmch Malntenance Stmch Muslc stmch running costs Stmch Staff Grantsfrom LPW I7499 18,052 192,951 150.381 321 154.202 1140,2931 13,4471 1143,740) 184,987 18,426 203.413 93A91 30,218 18,782 78,477 17.156 238,124 2.590 193.4911 130,2181 118,7821 178,4771 117,1561 1238.1241 12,2531 14511 17,597 110,3011 1392.1651 Welfare & Hospltallty SplrStual Resources Tower Refurbishment Re5tri¢ted funds Total Fund$ 4,796 1,868 IS6,463 163,127 356.078 5.133 1,417 162,039 168,589 372.002 13,173 15.763 408,089 Note.. The General fund Is ¢omprlsed of all asset5 and liabilitie5 Other than those held in restricted funds. The four Stmch restrbrted funds are funds given by 5t Michael's Charities for agreed expendlture relating to maintenance, muslc, staff, heatin and lighting costs. Welfare- This fund is for welfare purposes of Indivlduals whom the vicar identifies as belng In need. Hospltality Fund is providing morning service refreshments. Spiritual Resources-items the vicar glves to individua15 to help them develop their Chrlstian faith. 24
ST MRCHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SANTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 8. ANALYSIS OF NET ASSETS BETWEEN FUNDS Analy$5$ of Net Assets between Funds 2025 Unrestrlcted funds Restrkted funds Total funds Tanglble fixed assets Current asset5 Current IlabSlltles 1,217 235,564 138,6361 198,145 1,217 430,791 149,7151 382,293 195,227 111,0791 184,148 Anatysls ol Net Assets between Fund$ 2024 Unre5trlrted funds Restrkted fvnds Total funds Tanglble flxed assets Current assets Current liabilities 1,813 218,121 116,5211 203.413 1,813 399,140 128,9511 372.002 181.019 112,4301 168,589 25
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SAtNTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 9. TOWER SHOP STOCK The charge withln the accounts is stated after adjusting for year-end stock values 2025 Tower Shop stock 2024 Tower Shop stock Openlng stock valuation Purchased during the year 4,954 12,940 17,894 5,224 8,482 13.706 Closing stock valuation Cost of goods sold during the year 17,181) 10,713 (4,954) 8,752 10. AGENCY COLLECTIONS During the year, the charity collected funds totalling £5,83312024: £6,808} and paid funds totalling £5,28312024'. £6,708) in respect of agency collections. At 31 December 2025, the charity owed £65012024- £100} in respect of agency collections. 26
' ST MICHAEL AT THE NORTH GATE AND ST MARTtN AND ALL SAINTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 12. DEBTORS Debtors and Prepayments Debtors AA Saturday AA Thursday A Tuesday Evenlng AA Monday AA Tuesday Lunch ACA Tuesday Chufches Fire Hertford College Muslc Soclety James Ferriman New Cholr Oxford City Slngers Oxford Samaritans Tower Shop takings Matthew White Prayer Booksociety CWF Pension Fund HMRC Gift Aid claim 2025 2024 75 180 60 240 100 180 80 80 80 100 35 472 31 461 510 770 120 286 155 50 24 589 2,648 5,266 060 Prepayments Oxford City Councll tax PHS Sanltary Disposal F.G. Aldens Ltd Eccleslastlcal Insurance MGI - alr conditioning RSCM Ilcences 372 351 129 554 1,326 173 748 1,334 137 2,591 137 2,670 Total Debtors & Prepayments 7,857 4,730 27
ST MICHAEL AT THE NORTH GATE AND ST MARTIN AND ALL SATs NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 13. CREDITORS Credltors •nd Accruals 2025 2024 Credltors Church Workers Penston Fund Corona Ener8V Pat Earl Pia Saunder5-Patel Lang Conservatlon Thames Water Brltlsh Gas KallKwlk Magdalen College BH Doors Oxford tY Council Vlklng 8anbury Digital 8arclaycard Ecclesiastical Insuranee HMRCTax&NI MGI Monard Electrlcal Contractor5 Chor31 Scholars Oxford Dlrect Servleès Pete Dooland Roofln8 Taylors Planos Total Gas & Power Trading for Development F.G. Aldens Ltd Alfresco Group Ltd A. Butkley Bluesplre5 Church Workers Pension Fund House of Fla8S 4,421 420 1,115 103 19,077 119 226 59 51 1,164 149 284 162 267 21 961 1,897 173 3,053 3.400 io 1.152 96 3,562 iii 19 30 268 4,431 I56 774 23.642 98 1.709 21 978 3,260 32,123 Accruals St Mlchael Charitks Cholr expenses Wenn Townsend Rlcoh photocopler Agency Collectlons Ele¢tTlcltv Gas Hollday pay provlslon 11,079 454 1,200 126 650 1.184 1.100 2.549 454 100 1,206 5.309 28,951 15.793 47,916 1,799 49,715 Total Credltors & Ac¢rua15 Oeferred Income Credltors. Accruals & Deferred Income 28,951 28