The Parochial Church Council of the Ecclesiastical Parish of St Paul’s Church, Warwick Road, Banbury
Reports & Accounts Financial Year Ending 31/12/2025
Created using ExpensePlus
Contents
Legal & Administrative Details
Trustees Report Statement of Financial Activities Statement of Financial Position Statement of Cash Flows Notes - Accounting Policies Notes - Analysis of Income & Expenditure Notes - Analysis of Net Assets Between Funds Notes – Other Independent Examiners Report
2
Legal & Administrative Details
Charity Name: The Parochial Church Council of the Ecclesiastical Parish of St Paul’s Church, Warwick Road, Banbury
Charity Number: 1153218 Charity Address: St. Pauls Church Warwick Road Banbury OX16 2AN
Trustees: Michael Clark - Diocesan Synod Rep Rebekah Morgan (Appointed 28/04/2025) Diane Todd (Appointed 28/04/2025) James Wilshaw Fiona Wilkins
Jonathan Patterson
James McKenzie
Marigold Short - Deanery Synod Rep
Abi Patterson
Nelly Lukwo - Treasurer
Lynne Denyer
Rev Steve Short - Minister
Victoria Moir - Assistant Warden, Deanery Synod Rep
Peter Preston - Deanery Synod Rep
Timothy Howe
Sarah Preston
3
Rev Daniel McGowan - Incumbent (Vicar) & Chair
Jeannette Law - Children and families worker
Michael Moir - Warden, Vice-Chair
Margaret Clark - Parish Safeguarding Officer (PSO)
Susan Castle - PCC Secretary & Administrator (Resigned 28/04/2025)
Key Management Day to day management of the church is delegated to the incumbent Personnel: and the staff team.
PCC Secretary - Jess Bonas (Appointed by PCC 24 June 2025)
Name & Address of Lloyds Bank Plc – Banbury Branch, 12 High Street, Banbury OX16 Primary Banker: 5EF
Independent Examiner: Mr S R Flynn FCCA 30 Daryington Drive Guilford Surrey GU1 2QD
4
Trustees Report
Objects of the charity
The purpose of St Paul's Church, as agreed by the PCC, is expressed as follows.
To honour God the Father by:
-
living ourselves in the light of Jesus
-
caring for one another in the love of Jesus
-
reaching out to others with the life of Jesus
in the power of the Holy Spirit
Summary of the charity's main activities and achievements
To further the above objects and vision, the charity’s main activities and achievements were as follows:
By living ourselves in the light of Jesus. Faithful Bible teaching and preaching every Sunday is the foundation for our gathering and our shared life of witness together. We have had series at Warwick Road based on: Romans 5-8 (Jan-March), Ezra & Nehemiah (April-June), Luke 3-6 (JulyOct), Micah (Nov-Dec); at Bretch Hill on: Colossians (Jan-March); Nehemiah (April-July); The Lord’s Prayer (Aug); Mark 1-4 (Sept-Nov); Luke 1-2 (Dec); and from 18 May at the evening service at Warwick Road on: Ezra & Nehemiah (May-June); Psalms 1-25 (July-Oct), Luke 1-2 (Nov-Dec). In 2025, the average combined attendance at both centres on a ‘normal’ Sunday was 155 (2024: 150) adults and children. Parish Prayer and the Bretch Hill Prayer Group are monthly encouragements. We seek to resource and encourage our church members in their daily faithful Christian lives, the main area where we live in the light of Christ.
By caring for one another in the love of Jesus. Our Grow Groups (99 adults involved in 8 groups) meet weekly for Bible study and prayer to build each other up in the gospel. The main focus being a deeper and more personal application of that week’s sermon exposition. Our children’s group for Primary age children ‘Sparklight’ and ‘Laser’ for Secondary age have run generally on three out of four Sundays a month, as has Creche for pre-schoolers. Pastoral visiting and families work continue to be a blessing and a practical support. SHINE, a service specifically for those with learning disabilities and their carer’s, continues to meet on the 3rd Sunday afternoon of each month. We are involved with Deanery Synod and maintain our fabric and goods in healthy order.
By reaching out to others with the life of Jesus. We maintain mission links worldwide, supporting our mission partners’ work financially and in prayer. Our World Church Group oversees our commitment to supporting missions both overseas (¾ of our tithe) and in the UK (¼). Chat and Play, Schools work, All Saints Eve community witness and community events serve young people who are within and beyond our regulars at church. We continue to have significant links with Green Pastures Nursing Home.
In planning the activities, the trustees have applied the guidance on public benefit issued by the Charity Commission.
In planning the activities, the trustees have applied the guidance on public benefit issued by the Charity Commission.
5
Structure, Governance and Management
The Parochial Church Council of the Ecclesiastical Parish of St Paul’s, Banbury has the responsibility of co-operating with the Incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social, and ecumenical. The PCC is also specifically responsible for the maintenance of Parish Church of St Paul’s, Warwick Road, Banbury; St Paul’s Church Centre, Prescott Avenue, Banbury; and Curates House, Hardwick Park, Banbury. All trustees are required to undertake safeguarding training.
The method of appointment of PCC members is set out in the Church Representation Rules. At St Paul’s, the membership of the PCC consists of 13 elected members as well as 7 ex-officio members (made up of our incumbent, Minister with Permission to Officiate, churchwardens, deanery and diocesan synod representatives). Churchwardens are elected by the Meeting of Parishioners for the ensuing year; elected members are elected by those on the Electoral Roll at the Annual Parochial Church Meeting (for a period of three years), as are synod representatives.
The PCC are responsible for making decisions on all matters of general concern and importance to the Parish, including deciding how the funds of the PCC are to be spent. The Incumbent is responsible for matters of doctrine.
The electoral roll for the Parish of St Paul’s Banbury stands at 106 (2024: 116)
The PCC aims to enable all people, without exception, to come to faith in Jesus Christ and to express that in loving service. This aim is fulfilled by providing opportunities for Christian worship and prayer, pastoral care, and outreach work.
Financial Review
Philippians 4 reminds us that God will meet all our needs according to the riches of his glory in Christ Jesus. This passage remains just as true in 2025 as when written. Despite a challenging financial year with reduced income and an overall deficit, the church family have responded in committed generosity as part of their worship, with approximately 78 family units giving regularly across both congregations. Their faithful giving, combined with PCC stewardship and external grant support, has enabled us to launch the Bretch Hill church plant and continue investing in what God is doing in and through St Pauls. Praise God.
Total income fell from £353k in 2024 to £262k in 2025, a decrease of £90k. This significant drop is primarily due to three legacies totalling £58k received in 2024, alongside reduced investment income from CCLA funds totalling £10k and a no gift day appeal for 2025. The 2025 total of £262k comprised unrestricted funds income of £168k (2024: £218k) and restricted giving of £94k (2024: £134k). Income includes donations, grants, investment returns, activity and rental income. The Statement of Financial Activities shows an overall deficit of £53k on all funds for 2025 (2024: £57k surplus), the unrestricted deficit of £11k (2024: £61k surplus)
Expenditure has been monitored carefully in line with budget by the Standing Committee and the PCC. Overall expenditure totalled £315k (2024: £296k), representing an increase of £19k. This increase can be attributed to salary rises in line with inflation and maintenance costs for Prescott Avenue church centre. Total unrestricted spending for the year was £180k (2024: £157k). The main areas of unrestricted expenditure were:
-
Parish share: £48k (2024: £48k)
-
Salaries: £65k (2024: £60k) - employing 5 staff members (2024: 5)
6
-
Mission: £12k (2024: £13k)
-
Buildings maintenance and running costs: £35k (2024: £17k)
These four categories account for 90% of all unrestricted spending.
Total restricted spending was £136k (2024: £138k). The two main areas of restricted spending were drainage infrastructure works at Warwick Road church, costing £85k (2024: £90k), and expenditure on the new church plant at Bretch Hill of £43k (2024: £38k). These account for 94% of all restricted spending.
Drainage works were funded from the Space Project Fund, a restricted fund for the building project at Warwick Road, specifically for a replacement church hall. The fund stood at £1,028k at year-end (2024: £1,065k) and also met all other costs relating to the future development of Warwick Road church and church hall. Space Project funds are held in the CBF Church of England Deposit Fund, a short-term deposit fund managed by CCLA, which generated £47k in interest income (2024: £43k).
The new church congregation at the Bretch Hill, which launched in January 2025, was funded through combined support from Stoke Poges Free Church 1995 Trust £12k (2024: £8k), Oxford Diocese Development Fund £20k (2024: £20k), and generous donations from the sending and sent congregation of £32k (2024: £9k). The 2024 figure represents preparatory costs, primarily for the appointment of an Associate Minister ahead of the launch. Over the next three years, £120k will be required for this new congregation. Active external fundraising is underway.
At the beginning of 2025, the PCC created a designated Bretch Hill Fund to enable transparent financial reporting for the new congregation. This designated fund manages all income and expenditure from the sent congregation that is not covered by the restricted funds noted above (Stoke Poges Trust, Oxford Diocese Development Fund, and other restricted grants). There are a few families from the sending congregation who still actively support the sent congregation and their donations are allocated to this designated fund.
Total cash and bank balances were £1,292k (2024: £1,306k). This comprised unrestricted funds of £179k (2024: £151k) and restricted funds of £1,114k (2024: £1,155k).
The PCC owns a 50% share in a residential property in Hardwick Park (Curate's Property Investment Fund (Restricted)) which is retained for the purpose of housing a curate. This property is currently rented out until a new curate begins their curacy. The rest of the share is owned by the Oxford Diocese.
Looking forward - The PCC has ensured that a prudent budget has been set for 2026. This includes a deficit of £35k on the General Fund, primarily due to inflationary increases, updated Employer's National Insurance contribution levels and a significant number of church members moving to the Bretch Hill congregation. A Gift Day appeal has been scheduled for early 2026 to address this deficit, and we are also hopeful of increased giving throughout the year. As mentioned above the overall funding requirement for Bretch Hill congregation for the next three years is £120k which will be fundraised externally.
Governance and Administration - In 2025 the PCC introduced ExpensePlus, a cloud-based finance system, to enable separate financial reporting for our two congregations at Warwick Road and Bretch Hill, which the previous Excel-based system could not support. This transition has improved our Gift Aid claims process significantly: outstanding claims waiting to be recovered from HMRC
7
Statement of Financial Activities
| Unrestricted | Restricted | Total | Prior Year | |
|---|---|---|---|---|
| Incoming Resources | ||||
| Donations & Legacies | 155,525 | 39,596 | 195,121 | 279,783 |
| Charitable Activities | 0 | 3,810 | 3,810 | 0 |
| Investments | 3,270 | 50,447 | 53,717 | 62,308 |
| Trading Activities | 9,618 | 196 | 9,814 | 10,723 |
| Other | 0 | 0 | 0 | 0 |
| Total incoming resources | 168,414 | 94,049 | 262,462 | 352,814 |
| Resources Used | ||||
| Charitable Activities | 178,998 | 135,774 | 314,772 | 295,376 |
| Raising Funds | 0 | 0 | 0 | 0 |
| Governance Costs | 700 | 0 | 700 | 700 |
| Support | 0 | 0 | 0 | 0 |
| Other | 0 | 0 | 0 | 0 |
| Total resources used | 179,698 | 135,774 | 315,472 | 296,076 |
| Net Incoming / Outgoing Resources (before transfers) |
-11,284 | -41,726 | -53,010 | 56,738 |
| Fund Transfers In | 0 | 0 | 0 | 0 |
| Fund Transfers Out | 0 | 0 | 0 | 0 |
| Net Incoming / Outgoing Resources (before gains/losses) |
-11,284 | -41,726 | -53,010 | 56,738 |
| Investment Gains (or Losses) | 0 | 0 | 0 | 0 |
| Net Incoming / Outgoing Resources (before Asset Revaluation) |
-11,284 | -41,726 | -53,010 | 56,738 |
| Asset Revaluation | 0 | 0 | 0 | 0 |
| Net Movement of Funds | -11,284 | -41,726 | -53,010 | 56,738 |
| Total Funds Brought Forward | 179,866 | 1,277,398 | 1,457,264 | 1,400,526 |
| Total Funds Carried Forward | 168,582 | 1,235,672 | 1,404,254 | 1,457,264 |
| Represented By | ||||
| General (Unrestricted) | 63,663 | 0 | 63,663 | 84,589 |
| Bretch Hill Fund (Designated) | 21,728 | 0 | 21,728 | 0 |
| Diocese of Oxford Development fund (Restricted) |
0 | 0 | 0 | 0 |
| Stoke Poges Free Church 1995 Trust (Restricted) |
0 | 0 | 0 | 0 |
| Associate Minister Fund - PCC (Restricted) |
0 | 0 | 0 | 11,201 |
| Church Fees Account (Restricted) |
0 | 463 | 463 | 267 |
| Youth Summer Camps (Restricted) |
0 | 580 | 580 | 580 |
| Shine (Restricted) | 0 | 782 | 782 | 782 |
| Hard Times Emergency Fund (Restricted) |
0 | 3,859 | 3,859 | 4,292 |
| The Buildings Fund (Restricted) | 0 | 79,550 | 79,550 | 72,059 |
| Space Project Restricted | 0 | 1,027,515 | 1,027,515 | 1,065,450 |
9
| (Restricted) | ||||
|---|---|---|---|---|
| Projects and events (Restricted) | 0 | 193 | 193 | 0 |
| The Building Fund (Designated by PCC) (Designated) |
45,969 | 0 | 45,969 | 58,056 |
| Children and Families Worker (Restricted) |
0 | 0 | 0 | 0 |
| Curate's Property Investment Fund (Restricted) |
0 | 122,500 | 122,500 | 122,500 |
| Capital Projects Reserve Fund (Designated) |
37,221 | 0 | 37,221 | 37,221 |
| Ernest Mulenga Family Support (Restricted) |
0 | 1 | 1 | 267 |
| Capernwray Fund (Restricted) | 0 | 230 | 230 | 0 |
10
Statement of Financial Position
| Unrestricted | Restricted | Total | Prior Year | |
|---|---|---|---|---|
| Current Assets | ||||
| Cash | 178,506 | 1,113,721 | 1,292,227 | 1,306,074 |
| Accounts Receivable | 1,908 | 80 | 1,987 | 40,143 |
| Prepayments | 0 | 0 | 0 | 0 |
| Total | 180,414 | 1,113,801 | 1,294,214 | 1,346,217 |
| Non-Current Assets | ||||
| Fixed Assets | 3,501 | 122,500 | 126,001 | 127,402 |
| Investments | 0 | 0 | 0 | 0 |
| Total | 3,501 | 122,500 | 126,001 | 127,402 |
| Current Liabilities | ||||
| Accounts Payable | 15,333 | 628 | 15,961 | 16,355 |
| Deferred Income | 0 | 0 | 0 | 0 |
| Total | 15,333 | 628 | 15,961 | 16,355 |
| Non-Current Liabilities | ||||
| Long Term Loan / Mortgage | 0 | 0 | 0 | 0 |
| Total | 0 | 0 | 0 | 0 |
| Net Current Assets | 165,081 | 1,113,172 | 1,278,253 | 1,329,862 |
| Total Net Assets (Assets Minus Liabilities) |
168,582 | 1,235,672 | 1,404,254 | 1,457,264 |
| Represented By | ||||
| General (Unrestricted) | 63,663 | 0 | 63,663 | 84,589 |
| Bretch Hill Fund (Designated) | 21,728 | 0 | 21,728 | 0 |
| Diocese of Oxford Development fund (Restricted) |
0 | 0 | 0 | 0 |
| Stoke Poges Free Church 1995 Trust (Restricted) |
0 | 0 | 0 | 0 |
| Associate Minister Fund - PCC (Restricted) |
0 | 0 | 0 | 11,201 |
| Church Fees Account (Restricted) |
0 | 463 | 463 | 267 |
| Youth Summer Camps (Restricted) |
0 | 580 | 580 | 580 |
| Shine (Restricted) | 0 | 782 | 782 | 782 |
| Hard Times Emergency Fund (Restricted) |
0 | 3,859 | 3,859 | 4,292 |
| The Buildings Fund (Restricted) | 0 | 79,550 | 79,550 | 72,059 |
| Space Project Restricted (Restricted) |
0 | 1,027,515 | 1,027,515 | 1,065,450 |
| Projects and events (Restricted) | 0 | 193 | 193 | 0 |
| The Building Fund (Designated by PCC) (Designated) |
45,969 | 0 | 45,969 | 58,056 |
| Children and Families Worker (Restricted) |
0 | 0 | 0 | 0 |
| Curate's Property Investment Fund (Restricted) |
0 | 122,500 | 122,500 | 122,500 |
| Capital Projects Reserve Fund (Designated) |
37,221 | 0 | 37,221 | 37,221 |
| Ernest Mulenga Family Support | 0 | 1 | 1 | 267 |
11
Statement of Cash Flows
| Total | Prior Year | |
|---|---|---|
| Cash Flow from Operating Activities | ||
| Net Surplus (deficit) | -53,010 | 0 |
| Adjustments For: | ||
| Fixed Asset Depreciation | 1,401 | 0 |
| Less Investment Gains | 0 | 0 |
| Accounts Receivable Decrease | 38,156 | 0 |
| Prepayments Decrease | 0 | 0 |
| Accounts Payable Increase | -394 | 0 |
| Deferred Income Increase | 0 | 0 |
| Less Interest Received | -53,717 | 0 |
| Less Sale of Assets | 0 | 0 |
| Less Asset Revaluation | 0 | 0 |
| Loan Interest Paid | 0 | 0 |
| NET Cash Flow from Operating Activities | -67,564 | 0 |
| Cash Flow from Investing Activities | ||
| Interest Received | 53,717 | 0 |
| Sales of Assets | 0 | 0 |
| Less Purchase of Assets | 0 | 0 |
| Return of Investments | 0 | 0 |
| Less Money Invested | 0 | 0 |
| NET Cash Flow from Investing Activities | 53,717 | 0 |
| Cash Flow from Financing Activities | ||
| Loans Received | 0 | 0 |
| Less Loan Repayments | 0 | 0 |
| Less Loan Interest Paid | 0 | 0 |
| NET Cash Flow from Financing Activities | 0 | 0 |
| Increase (decrease) in Cash | -13,847 | 0 |
| Cash at start of period | 1,306,074 | 0 |
| Cash at end of period | 1,292,227 | 0 |
| Represented By: | ||
| General (Unrestricted) | 71,874 | 0 |
| Bretch Hill Fund (Designated) | 22,458 | 0 |
| Diocese of Oxford Development fund (Restricted) | 541 | 0 |
| Stoke Poges Free Church 1995 Trust (Restricted) | 0 | 0 |
| Associate Minister Fund - PCC (Restricted) | 0 | 0 |
| Church Fees Account (Restricted) | 463 | 0 |
| Youth Summer Camps (Restricted) | 580 | 0 |
| Shine (Restricted) | 782 | 0 |
| Hard Times Emergency Fund (Restricted) | 3,859 | 0 |
| The Buildings Fund (Restricted) | 79,471 | 0 |
| Space Project Restricted (Restricted) | 1,027,515 | 0 |
| Projects and events (Restricted) | 280 | 0 |
| The Building Fund (Designated by PCC) (Designated) | 46,953 | 0 |
| Children and Families Worker (Restricted) | 0 | 0 |
| Curate's Property Investment Fund (Restricted) | 0 | 0 |
13
| Capital Projects Reserve Fund (Designated) | 37,221 | 0 |
|---|---|---|
| Ernest Mulenga Family Support (Restricted) | 1 | 0 |
| Capernwray Fund (Restricted) | 230 | 0 |
| TOTAL Represented By | 1,292,227 | 0 |
14
Notes - Accounting Policies
Basis of Preparation
These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance, with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), (the Charities SORP), and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102
Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Key Risks & Uncertainties
The charity is exposed to various risks, including operational, financial and reputational risks. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
Fund Accounting
PCC funds are required to be analysed under specific headings, as follows: General funds represent the ‘free’ funds of the PCC that are not subject to any restriction regarding their use and are available for application for the general purposes of the PCC. Designated funds are earmarked by the PCC for particular purposes but are nevertheless still unrestricted as the PCC can re-designate the funds if it wishes. Restricted Funds are funds collected or donated for a particular purpose and cannot be used by the PCC for any other purpose except by agreement with the donor.
Incoming Resources
All incoming resources are recognised once the charity has entitlement to the resources, it is probable that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. All voluntary income from members of the church are recognised as donations and are included in full, with associated Gift Aid receivable in the Statement of Financial Activities. Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. Grants where entitlement is not conditional on the delivery of specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant. Income resources from charitable trading activities such as the letting of the building are accounted for when invoices are drawn up (as at the point of entitlement). Donated services and facilities are included at the value to the charity where this can be quantified. Gifts in Kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Volunteer time, the value of
15
voluntary support for the work of the charity, is not included in the accounts but is described in the Trustees Annual Report. Investment Income is included in the accounts when receivable.
Resources Expended
Expenditure is recognised on an accrual basis as a liability is incurred.
Governance Costs
Governance costs include costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity. Governance costs are shown within ‘Analysis of Expenditure’ note.
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Tangible Fixed Assets
Consecrated and beneficed property is excluded from the accounts by S10(2)(c) of the Charities Act 2011. No value is attributed to moveable church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether for maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.
Other land and buildings held on behalf of the PCC for its own purposes are valued at cost. No depreciation has been charged in respect of such properties as they are kept in sound condition and any expenditure on maintenance or improvement following regular review is written off as incurred. The useful economic life of these assets is so long and residual values so high that any depreciation would not be material. Provision will be made if there has been any permanent diminution in value.
Depreciation is calculated to write down the cost of tangible fixed assets, excluding freehold properties, over their expected useful lives. Equipment used within the church premises is depreciated on a straight-line basis over four years. Routine replacements and renewals to technical systems and IT equipment are written off as expenditure in the SOFA. Other equipment purchases of under £1,000 are also written off as expenditure in the SOFA.
Pensions
The charity makes defined contribution pension payments for eligible employees. Once the contributions have been paid, the charity has no further obligations. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.
16
Operating Leases
Rental charges payable under operating leases are charged on a straight-line basis over the terms of the lease.
Taxation
The charity is exempt from tax on its charitable activities.
Judgements and Key Sources of Estimation
The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
Concessionary Loans
The charity has not received any Concessionary Loans this financial year.
17
Notes - Analysis of Income & Expenditure
Analysis of Income
Current Year
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Incoming | Resources | ||
| Donations & Legacies | |||
| Donations | 125,910 | 6,381 | 132,291 |
| Gift day | 0 | 0 | 0 |
| Grants | 0 | 32,139 | 32,139 |
| Income tax recoverable | 29,616 | 1,076 | 30,692 |
| Legacies | 0 | 0 | 0 |
| Charitable Activities | |||
| Event Income | 0 | 3,810 | 3,810 |
| Investments | |||
| Bank Interest | 3,270 | 50,447 | 53,717 |
| Trading Activities | |||
| Church Fees | 828 | 196 | 1,024 |
| Rental Income | 8,790 | 0 | 8,790 |
| Other | |||
| Other Income | 0 | 0 | 0 |
| Total incoming resources | 168,414 | 94,049 | 262,462 |
Prior Year
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Incoming | Resources | ||
| Donations & Legacies | |||
| Donations | 152,306 | 14,738 | 167,044 |
| Gift day | 0 | 0 | 0 |
| Grants | 0 | 27,809 | 27,809 |
| Income tax recoverable | 25,315 | 1,501 | 26,816 |
| Legacies | 0 | 58,114 | 58,114 |
| Charitable Activities | |||
| Event Income | 0 | 0 | 0 |
| Investments | |||
| Bank Interest | 0 | 62,308 | 62,308 |
| Trading Activities | |||
| Church Fees | 838 | 710 | 1,548 |
| Rental Income | 9,175 | 0 | 9,175 |
| Other | |||
| Other Income | 30,724 | -30,724 | 0 |
| Total incoming resources | 218,358 | 134,456 | 352,814 |
18
Analysis of Expenditure
Current Year
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Resources Used | |||
| Charitable Activities | |||
| Administration | 10,907 | 0 | 10,907 |
| Buildings maintenance and running costs | 35,385 | 0 | 35,385 |
| Depreciation | 1,401 | 0 | 1,401 |
| Events & book stall | 0 | 3,617 | 3,617 |
| Gifts Given | 12,300 | 3,149 | 15,449 |
| Ministry support | 6,022 | 701 | 6,723 |
| Other Expenditure | 0 | 0 | 0 |
| Parish Share | 48,311 | 0 | 48,311 |
| Space Project | 0 | 84,967 | 84,967 |
| Staff Costs | 64,672 | 43,340 | 108,012 |
| Governance Costs | |||
| Governance Costs | 700 | 0 | 700 |
| Total resources used | 179,698 | 135,774 | 315,472 |
Prior Year
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Resources Used | |||
| Charitable Activities | |||
| Administration | 2,904 | 0 | 2,904 |
| Buildings maintenance and running costs | 17,701 | 4,400 | 22,101 |
| Depreciation | 700 | 0 | 700 |
| Events & book stall | 4,604 | 1,400 | 6,004 |
| Gifts Given | 13,350 | 0 | 13,350 |
| Ministry support | 8,701 | 4,267 | 12,968 |
| Other Expenditure | 0 | 684 | 684 |
| Parish Share | 48,311 | 0 | 48,311 |
| Space Project | 0 | 89,787 | 89,787 |
| Staff Costs | 60,220 | 38,347 | 98,567 |
| Governance Costs | |||
| Governance Costs | 700 | 0 | 700 |
| Total resources used | 157,191 | 138,885 | 296,076 |
19
Notes - Analysis of Net Assets Between Funds
Current Year
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Current Assets | 180,414 | 1,113,801 | 1,294,214 |
| Non-Current Assets | 3,501 | 122,500 | 126,001 |
| Current Liabilities | 15,333 | 628 | 15,961 |
| Non-Current Liabilities | 0 | 0 | 0 |
| Total Net Assets (Assets Minus Liabilities) | 168,582 | 1,235,672 | 1,404,254 |
Prior Year
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Current Assets | 191,319 | 1,154,898 | 1,346,217 |
| Non-Current Assets | 4,902 | 122,500 | 127,402 |
| Current Liabilities | 16,355 | 0 | 16,355 |
| Non-Current Liabilities | 0 | 0 | 0 |
| Total Net Assets (Assets Minus Liabilities) | 179,866 | 1,277,398 | 1,457,264 |
20
Notes - Other
Volunteers
The charity benefits greatly from the voluntary contributions of time and money. Please refer to the trustees' report for further detail about volunteer contributions in the organisation.
Independent Examination Fees
Fees payable to the independent examiner for independent examination is £700 (2024: £600)
Staff Costs
The total staff costs and employee benefits for the reporting period are analysed as follows: Gross wages and salaries: £91,850, Employers NI costs £1,681 due to NI allowance, Employers Pension costs £14,480 (prior year Gross wages and salaries: £85,245, Employers NI costs £323, Employers Pension costs £11,781). The number of employees during the year was five (the number of employees during the prior year was five).
No employees received employee benefits of more than £60,000 during the year or prior year. The PCC employed a Children and Families Worker, Administrator, an Operations Manager, Pastoral Worker and Minister for St Paul's Bretch Hill congregation. The incumbent costs are not included in the total salaries. This is because the incumbent stipends are met under Church of England arrangements and not by the PCC. The PCC appointed Stewardship as the external payroll provider to process and manage staff compensation and benefits
Key Management Personnel
The charity considers its key management personnel to be members of the PCC named on the Charity Information page and the staff team. The total employee benefits received by the key management personnel (including employer national insurance and pension contributions) was £101,263 (total employee benefits for the prior year were: £98,566).
Trustee Remuneration
During the year three trustees received remuneration. The remuneration paid during the year was for the employees' role within the charity and not for their role as a trustee.
The total remuneration paid during the year is as follows: Susan Castle £5,806, Rev Steve Short £40,988, Jeannette Law £37,180 (amounts from the prior year were: Susan Castle* £7,351, Rev Steve Short £38,347, Jeannette Law £36,536). Susan Castle Resigned from PCC April 2025.
Trustee Expenses
During the year ten trustees incurred out-of-pocket expenses totalling £10,880 (prior year eight trustees incurred out-of-pocket expenses totalling £9,891. All expenses were incurred for the day-to-day running of the
21
charity's activities. The trustees’ donations have been accurately recorded, are fully transparent, and are considered to be in the best interests of the charity.
Trustee Donations
During the year the total aggregated donations made to the charity by the trustees was £57,740. There were no conditions attached to the donations. (total aggregate donations from prior year were £70,568)
Tangible Fixed Assets
| Computer & Office Equipment | Freehold Property | Total | |
|---|---|---|---|
| Cost | |||
| Prior to 1st January 2025 | 5,603 | 122,500 | 128,103 |
| Additions in financial year | 0 | 0 | 0 |
| Total as at 31st December 2025 | 5,603 | 122,500 | 128,103 |
| Depreciation | |||
| Prior to 1st January 2025 | 701 | 0 | 701 |
| Additions in financial year | 1,401 | 0 | 1,401 |
| Total as at 31st December 2025 | 2,102 | 0 | 2,102 |
| Net Book Value | |||
| As at 31st December 2025 | 3,501 | 122,500 | 126,001 |
| As at 31st December 2024 | 4,902 | 122,500 | 127,402 |
Debtors
Accounts Receivable
| Description | Amount |
|---|---|
| Gift Aid | 1,987 |
| Trade Debtors | 0 |
| Total | 1,987 |
Prepayments
| Description | Amount |
|---|---|
| Prepayments | 0 |
| Total | 0 |
Creditors
Accounts Payable
| Description | Amount |
|---|---|
| Accruals | 10,399 |
| Finance Lease Liabilities | 3,780 |
| Tax & Social Security | 798 |
22
Trade Creditors 984 Total 15,961
Deferred Income
| Description | Amount |
|---|---|
| Deferred Income | 0 |
| Total | 0 |
Analysis of Charitable Funds
Current Year
| Fund Name | Opening Balance | Income | Expenditure | Fund Transfers | Closing Balance |
|---|---|---|---|---|---|
| Unrestricted | |||||
| General (Unrestricted) | 84,589 | 135,804 | 156,730 | 0 | 63,663 |
| Total | 84,589 | 135,804 | 156,730 | 0 | 63,663 |
| Designated | |||||
| Bretch Hill Fund (Designated) |
0 | 32,609 | 10,881 | 0 | 21,728 |
| The Building Fund (Designated by PCC) (Designated) |
58,056 | 0 | 12,087 | 0 | 45,969 |
| Capital Projects Reserve Fund (Designated) |
37,221 | 0 | 0 | 0 | 37,221 |
| Total | 95,277 | 32,609 | 22,967 | 0 | 104,919 |
| Unrestricted Total | 179,866 | 168,414 | 179,698 | 0 | 168,582 |
| Restricted | |||||
| Diocese of Oxford Development fun d (Restricted) |
0 | 20,139 | 20,139 | 0 | 0 |
| Stoke Poges Free Church 1995 Trust (Restricted) |
0 | 12,000 | 12,000 | 0 | 0 |
| Associate Minister Fund - PCC (Restricted) |
11,201 | 0 | 11,201 | 0 | 0 |
| Church Fees Account (Restricted) |
267 | 196 | 0 | 0 | 463 |
| Youth Summer Camps (Restricted) |
580 | 0 | 0 | 0 | 580 |
| Shine (Restricted) | 782 | 0 | 0 | 0 | 782 |
| Hard Times Emergency Fund (Restricted) |
4,292 | 2,330 | 2,763 | 0 | 3,859 |
| The Buildings Fund (Restricted) |
72,059 | 7,491 | 0 | 0 | 79,550 |
| Space Project Restricted (Restricted) |
1,065,450 | 47,032 | 84,967 | 0 | 1,027,515 |
| Projects and events (Restricted) |
0 | 3,810 | 3,617 | 0 | 193 |
| Children and Families Worker (Restricted) |
0 | 701 | 701 | 0 | 0 |
| Curate's Property Investment Fund (Restricted) |
122,500 | 0 | 0 | 0 | 122,500 |
| Ernest Mulenga Family Support (Restricted) |
267 | 0 | 267 | 0 | 1 |
23
| Capernwray Fund (Restricted) |
0 | 350 | 120 | 0 | 230 |
|---|---|---|---|---|---|
| Total | 1,277,398 | 94,049 | 135,774 | 0 | 1,235,672 |
| Restricted Total | 1,277,398 | 94,049 | 135,774 | 0 | 1,235,672 |
| TOTAL | 1,457,264 | 262,462 | 315,472 | 0 | 1,404,254 |
Prior Year
| Fund Name | Opening Balance | Income | Expenditure | Fund Transfers | Closing Balance |
|---|---|---|---|---|---|
| Unrestricted | |||||
| General (Unrestricted) | 23,420 | 218,360 | 157,191 | 0 | 84,589 |
| Total | 23,420 | 218,360 | 157,191 | 0 | 84,589 |
| Designated | |||||
| Bretch Hill Fund (Designated) |
0 | 0 | 0 | 0 | 0 |
| The Building Fund (Designated by PCC) (Designated) |
58,056 | 0 | 0 | 0 | 58,056 |
| Capital Projects Reserve Fund (Designated) |
37,221 | 0 | 0 | 0 | 37,221 |
| Total | 95,277 | 0 | 0 | 0 | 95,277 |
| Unrestricted Total | 118,697 | 218,360 | 157,191 | 0 | 179,866 |
| Restricted | |||||
| Diocese of Oxford Development fun d (Restricted) |
0 | 19,809 | 19,809 | 0 | 0 |
| Stoke Poges Free Church 1995 Trust (Restricted) |
0 | 8,000 | 8,000 | 0 | 0 |
| Associate Minister Fund - PCC (Restricted) |
14,011 | 9,168 | 11,978 | 0 | 11,201 |
| Church Fees Account (Restricted) |
0 | 951 | 684 | 0 | 267 |
| Youth Summer Camps (Restricted) |
907 | 0 | 327 | 0 | 580 |
| Shine (Restricted) | 1,001 | 70 | 289 | 0 | 782 |
| Hard Times Emergency Fund (Restricted) |
5,627 | 110 | 1,445 | 0 | 4,292 |
| The Buildings Fund (Restricted) |
26,137 | 50,322 | 4,400 | 0 | 72,059 |
| Space Project Restricted (Restricted) |
1,111,646 | 43,591 | 89,787 | 0 | 1,065,450 |
| Projects and events (Restricted) |
0 | 0 | 0 | 0 | 0 |
| Children and Families Worker (Restricted) |
0 | 767 | 767 | 0 | 0 |
| Curate's Property Investment Fund (Restricted) |
122,500 | 0 | 0 | 0 | 122,500 |
| Ernest Mulenga Family Support (Restricted) |
0 | 267 | 0 | 0 | 267 |
| Capernwray Fund (Restricted) |
0 | 0 | 0 | 0 | 0 |
| Total | 1,281,829 | 133,055 | 137,486 | 0 | 1,277,398 |
| Restricted Total | 1,281,829 | 133,055 | 137,486 | 0 | 1,277,398 |
| TOTAL | 1,400,526 | 351,415 | 294,677 | 0 | 1,457,264 |
24
Fund Transfers
There were no Fund Transfers this financial year.
Fund Descriptions
| Name | Description |
|---|---|
| General | To receive unrestricted donations and income for the general charitable purposes of the church, including worship, pastoral care, maintenance, administration, and operational costs not met by other funds. |
| Bretch Hill Fund | To receive income from the Bretch Hill congregation and meet the associated costs of ministry, operations, and activities for this congregation, excluding expenses covered by other restricted funds. |
| Diocese of Oxford Development fund | To hold grant income from Oxford Diocese Development Fund to pay Minister Salary |
| Stoke Poges Free Church 1995 Trust | To hold grant income from Stoke Poges Free Church 1995 Trust to support the ministry at St Paul's Bretch Hill |
| Associate Minister Fund - PCC | This was to be used for Minister Salary. Fund wound down in 2025 |
| Church Fees Account | To process fees relating to the occasional offices. |
| Youth Summer Camps | To support our young people and leaders to attend Christian summer camps |
| Shine | To cover donations to support our work with those with disabilities and learning difficulties |
| Hard Times Emergency Fund | To support those in hardship, through loans/grants or financial support. |
| The Buildings Fund | To repair, renovate, replace or extend of any existing building(s), or the construction of any new building(s), to serve the parish of St. Paul's Banbury |
| Space Project Restricted | To fund the building project at Warwick Road for a replacement church hall |
| Projects and events | Self funding project and events |
| The Building Fund (Designated by PCC) | Designated by the PCC for building projects, including capital improvements, major repairs, renovations, and maintenance of church property for charitable purposes. |
| Children and Families Worker | To fund the Children and Families' worker costs |
| Curate's Property Investment Fund | Curate's property Investment - to hold the investment in 10 Hardwick Park to be used to house curates training at St Paul's |
| Capital Projects Reserve Fund | Funds set aside for repairs to the fabric or contents of our church buildings. |
| Ernest Mulenga Family Support | To hold all contributions from Church Family towards the family of the late Ernest Mulenga |
| Capernwray Fund | Restricted fund for bursaries for anyone resident in the ecclesiastical parish of Banbury St. Paul’s, or who habitually attends public worship at St. Paul’s Warwick Road or St. Paul’s Bretch Hill to attend any Holiday/ retreat at Capernwray Hall in Lancashire |
Transactions to Related Parties
There were no transactions related parties during the accounting period.
Prior Period Adjustment
There were no prior year adjustments.
Pensions
The charity makes defined contribution pension payments for eligible employees. Once the contributions have been paid, the charity has no further obligations. The contributions are recognised as an expense in the period.
25
PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL’S BANBURY
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2025
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr S R Flynn FCCA
30 Daryington Drive Guilford Surrey GU1 2QD
Date: 27/02/2026