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 SA￿Ts
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 cOMMI￿EE
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 SA￿Ts
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 attl￿tIeS
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 eXPend￿Ure
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 re￿Ivable 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 re￿nt 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
G￿En( and Gwt Ald
Bankdonatlons from IndI￿d￿al5
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 G￿Ing and Gift
Fundraislnl Artivities
Lettlngs fundraIs1r￿-(￿UrCb & rooms
Lettings objectlves-thurch & r￿rn$
Total Fundr•hln8 AdivllRs
Rental Income
Aent 8a5ement Let Ifrlnrty thurchl
Rent 5hlp Street Forecourt
Total Rental Incorne
G￿ntS & Other In¢ome
Grants- Llsted Placesof Worshlp
Other funds8enerated
Other income
AdmSn se￿ice$-tO0therS
Weddln8 & funeral fees
Unrestrktod Expendlture exshop
Mlnlstry related empendlturt
2.397 MlnSstry parish share etc
6,174 aeanin8 materlals
,571 UpkeepofSe￿Ces
Clergy Expenses
20M19 Charltable donatlons
2*08 Staff.. Asst Mlnister
2,615 Total Mlnlstry related expense
4,188 Admlnktratlon
6.359 Admlnlstratlon & Statlonery
2,215 Bank charces maln account
4P(KJ Church Owice Photocopier
6,748 IT & SDftware
48,95Z Telecoms& Broadband
Church oifice- Computers
1,212 Misc. small Éxp & ¥ofreshments
22.934 Governance & accoMtancy
24.146 Website redeveloprnent
Church & P.RoomsWaste
12WI Caretaker flat expense5
Caretaker ae¢ommodatSon offset
12.1)00 Staff.. Costsof other staff
Contactles5donation pointfee
IMCKI Minor repalrs not stmch
Staff tralnlng and development
460 Depreclatlon Charde
53B
104
102
95,771 Unrestrlcted EMPend￿UreexC1shOP
De51gnated FuThds
Ma￿r Repalrs- stiurture- Ipartlall
Ma￿r Repalrs- asbest05fernoval
Tower Repalrs-Archltectsfees
O Tower Roofmalor Repalrs
cmfonl Centr< forSplrltualGrowth:
720 we￿te redevelopment
SO Staff.. Admlnlstratlon AssSstant
3,051 G%t of events
Mlsc. small exp & refrethment5
1,821 Total OCSG
3.821 Total Designated Funds
99,591 Tothl Unr & Deslgnated EKpend1E￿re
Ne¢ Unre5trlcted Into￿/(ExpendIt￿rt
1,670
5,994
7,fj64
47.068
1,141
1,864
61
44127
1,325
3,384
80
2,150
4,615
56.381
21,360
4,Z99
2R49
5,Z81
10,965
61,139
1,177
1,303
363
2,707
?￿28
2365
4,086
2.141
L310
3,746
5.146
1,762
12,286
5Z.349
3￿04
15,922
18,926
3.220
1,280
360
156
246
I2￿00
4.767
16,767
3,535
13.8191
951
726
7.060
4.273
2.991
1,388
1,109
L067
596
IL574
107,280
22.721
83.860
26,609
82.990
Unrestrlcted Income exclshop
De518nated Funds
Grant- Hlstorl¢ ChurchesTru5t
fjrant- Dlocese of Oxford
Grants. Listed Places of Worshlp
Total Grants- Deslgnated forTower Roof
O¥lord Centrt forsplrkual Grovrth:
DepO￿t Fund Interest- PCCACC
Donatlons
Event Income
OCSG danailonto Refurblthment fund
Total OCSG
Total De5*rbated Fund$
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
To￿1
Yot*l Rebjrblshmertt WeWar• Fynd
2025
201$
2025
spIr￿Ual
Résour¢os
Total
2024
202S
Incorne..
Bankdonatlon5from I￿J￿Idual$
Just Givln8. CAF & PayPal D(Mlailor6
NonGlftAld on￿off Donallcns
One-off GiftA￿ DonatSons
TOwerdOnat￿nS& 8r3ntS
0￿ thnatlon
GMnt•nd GMtAld
Dep05Il Fundlnterest-TowerAccount
Totsl Income
Éxpendkurt..
Church Ma￿rr￿[r$- st￿￿￿re
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
ExpeNd￿Ule related to PCCOblect￿eS.
Church malnteaance seryice contract5
Insufo#ce
Mlnttr repalrs
Organlplanotunlng
staff, Dlrectorof mU￿C 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 eXper￿S
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-lr￿aIIat1)n
lessGrants ILPWI Major MalThtenance
Major M#Sntenance less LPW Grants
Total Exp¢ndlture less LPW grants
Incomelorthe fund
D¢Jnations
3￿21
5,916
8,949
I￿37
10.883
24,860
2.019
57.185
3￿21
5,916
8,949
1,537
2044
5.806
7.154
1,415
11,432
16,515
2,271
47,437
lo￿3
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 Char￿leS
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
4￿10
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$trlcted fund5
Restrlcted lunds
Stmch Malntenance
Stmch Muslc
stmch running costs
Stmch Staff
Grantsfrom LPW
I74￿99
18,052
192,951
150.381
3￿21
154.202
1140,2931
13,4471
1143,740)
184,987
18,426
203.413
93A91
30,218
18,782
78,477
17.156
238,124
2.590
193.4911
130,2181
118,7821
178,4771
117,1561
1238.1241
12,2531
14511
17,597
110,3011
1392.1651
Welfare & Hospltallty
SplrStual Resources
Tower Refurbishment
Re5tri¢ted funds
Total Fund$
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 SA￿Ts
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
I￿56
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