## **ST GILES CHURCH** ## **HORSTED KEYNES** **ANNUAL REPORT** and **FINANCIAL STATEMENTS** of the **PAROCHIAL CHURCH COUNCIL** for the year ended 31st December 2025 ## **CONTENTS** Annual report Report of the Independent Examiner Statement of Financial Activities (SOFA) Balance Sheet Notes to the Financial Statements Pages 1 to 5 Page 6 Page 7 Page 8 Pages 9 to 14 ## **THE INCUMBENT** Vacant. The parish is in interregnum. ## **PRIMARY BANKERS** The PCC banks primarily with :- CAF BANK Limited Kings Hill, West Malling, Kent, ME19 4TA. ## **INDEPENDENT EXAMINER** The independent examiner is :- Helen Hord FCCA Oaksview, Lewes Road, Horsted Keynes, HAYWARDS HEATH, RH17 7DP. ## **CHARITY COMMISSION REGISTRATION** The Parochial Church Council is a registered charity, No. 1154482. ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **Registered Charity Number 1154482** ## **ANNUAL REPORT for 2025** ## **Administrative information** St. Giles Church (Grade I listed) is situated in Church Lane, Horsted Keynes RH17 7AY. It is part of the Diocese of Chichester within the Church of England. All correspondence should be addressed to HKPCC, The Martindale Centre, Station Road, Horsted Keynes, Haywards Heath, RH17 7ED. St Giles Church Horsted Keynes is a registered charity number 1154482. During the year the following served as members of the Parochial Church Council (PCC): |Rector:|Fr David Murdoch (PCC Chairman)|(Until June 2025)| |---|---|---| |Curate:|Fr Peter Sutton|(Until November 2025)| |Churchwardens:|Mrs Barbara Fairweather|(elected April 2025)| ||Mr John Whiting|(elected April 2025)| |Deanery Synod Representatives:|Mrs Heidi Mowforth|(until 2026)| ||Mr John Whiting|(until 2026)| |Elected Members:|Mrs Alison Coulson|(until 2027)| ||Mr John Emery|(until 2026)| ||Mr Martin Govas (Treasurer)|(until 2026)| ||Mr David Lamb|(until 2026)| ||Mrs Thelma Mason|(until 2026)| ||Mr James Nicholson|(until 2028)| |Co-opted Members:|Mrs Marion Lott|(ex-officio, MCMC chair)| |**The PCC made the following appointments:**||| |PCC minutes secretary|Mrs Marion Lott|| |Parish Safeguarding Officer|Mrs Thelma Mason|| |Electoral Roll Officer|Mrs Fiona Price|| ## **Structure, governance and management** Membership of the PCC is determined under the Church Representation Rules and consists of ex-officio members (Churchwarden(s), the members of the Diocesan and Deanery Synods), the chairman of the Martindale Centre Management Committee (co-opted), and up to 9 members of the church who are elected at the Annual Parochial Church Meeting (APCM). The PCC Secretary and Treasurer are elected by the PCC. The PCC is responsible for a wide range of matters affecting the parish and, in their capacity as trustees, members of the PCC are responsible for the stewardship of funds, the appropriate accounting and reporting of parish finances, and compliance with legislation applying to health and safety, disability, and safeguarding children and vulnerable adults. The PCC joins and unites the work of the Church, its committees, school governors and the Friends of Horsted Keynes Church. Page 1 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **Registered Charity Number 1154482** ## **ANNUAL REPORT for 2025 (continued)** The following committees are responsible for various aspects of the responsibilities and business of the PCC, and report to the PCC: _Standing Committee_ : is a steering group, which has power to transact the business of the PCC between its meetings. _Finance Committee_ : oversees the general financial dimension of the work of St. Giles’s by monitoring income and expenditure, budgeting and establishing and reviewing appropriate financial controls. The Finance Committee employs the services of Mr Steve Brentnall to give accounting and strategic advice and to prepare the Management and Annual Accounts. _Martindale Centre Management Committee_ : manages the day to day administration and maintenance of the Martindale Centre. _Fabric Committee_ : oversees maintenance of the Church building and fabric. _Churchyard Committee_ : is responsible for the maintenance of the churchyard and safety aspects of the area. _For all the Family Group:_ an informal group which meets about once a month to plan the next monthly ‘For all the Family’ Eucharist, and aspires to rekindle a Sunday club. _Friends of Horsted Keynes Church:_ exists to help, both with funding and in other practical ways, the maintenance, repair, beautification and development of the church building, its possessions and its churchyard. ## **Health and Safety** The PCC makes provision to consider health and safety issues at every meeting with an eye to overseeing and updating the risk assessment under ongoing scrutiny by church officers across committees who develop systems and procedures to manage the risks in their separate spheres. Mr John Whiting continued as Health and Safety Officer. ## **Safeguarding** The Safeguarding Officer reports to the PCC on a regular basis and the PCC makes provision to consider safeguarding issues at every meeting. The PCC has complied with the duty to have ‘due regard’ to the House of Bishops’ Safeguarding Policy and Practice Guidance. ## **Public Benefit** The PCC acknowledges its requirements to clearly demonstrate that, as a charity aiming to advance religion, it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the PCC has achieved this are provided in this report. ## **Aim and purposes** The PCC works with the Rector to facilitate the worship of Almighty God, growth of the Christian Church and service to others in and beyond the parish in accordance with Jesus’ commandment to love our neighbour. With these key aims in mind, Horsted Keynes PCC has established objectives in its current Mission Action Plan (MAP). _Our vision is "To become better followers of Christ by loving God and loving others"._ Our agreed initiatives to achieve our objectives are split into two groups, the first aimed at becoming better disciples ( _You shall love the Lord your God with all your heart, and with all your soul, and with all your mind_ ), and the second at becoming better servants ( _You shall love your neighbour as yourself_ ). Page 2 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **Registered Charity Number 1154482** ## **ANNUAL REPORT for 2025 (continued)** ## **Rector’s Report** At the time of writing the Parish is without a Rector and so this report has been prepared by the Church Wardens. 2025 commenced with both a Rector and a Curate in post but with awareness of Fr. David and Christine's planned retirement. The Lent course selected was prepared by the Diocese and was an exploration of the Nicene Creed supported by works of relevant significant art. Two courses were held, one on Wednesday evenings the other Thursday afternoons. Holy week and Easter had the added poignancy of it being Fr. David's last as a Parish Priest. The year continued with the usual three Holy Eucharist services per week and during term time School Worship on Friday mornings. An event to join in the National Celebration of the 80th Anniversary of VE Day was held at the Martindale Centre on 5th May. It was attended by a wide range of people from the village and also a gentleman who had been an evacuee here during WW2. Tea and cake were served with activities for children and the Horsted Keynes Singers led Community singing. There was a Bar and Barbecue in the evening, followed by Beacon lighting. The surplus funds were donated to Help for Heroes. On Sunday 29th June Fr. David led Holy Eucharist for the last time in St Giles Church. This was followed by a very well attended celebration of David and Christine's service to St. Giles and the parish of Horsted Keynes generally. Our recognition and affection for them was evident from the attendance, many good wishes and generosity of gifts. A separate farewell was given by the school which has also been served so well, especially by the enthusiastic development of a worship group and inexhaustible efforts of Christine. In recognition of Fr. David being Chaplain to the Bluebell Railway a farewell footplate ride was given. Fr. Peter was expected to remain in post as Curate until well into 2026. So it was surprise when during the Autumn it was announced that he was imminently to be appointed Assistant Vicar in the Parish of Cuckfield to lead their church in Bolney. We were assured by the Archdeacon that the Diocese had a plan to support us. However, after saying our fond farewells and thanks to Fr. Peter, the need for us to arrange for priests to conduct regular services for the foreseeable future became evident. We have been blessed with the availability of Canon David Tickner and Fr. Martin Morgan. This which has eased the burden on the wardens substantially. During Autumn and the beginning of Winter the usual services and village events continued and then Christmas was on us. Unfortunately, sudden severe illness left us at very short notice with no priestly cover at this particularly important time. However, we were blessed in that the Head Teacher of the School Alison Coulson was able to lead the everpopular Christingle service at less than 24 hours’ notice. For the Bethlehem Mass on Christmas Eve, we were surprised and delighted to be led by Bishop Ruth. On Christmas Day Deacon Carolyn Scott from Haywards Heath came. With the help later in the year of retired Priests, we covered all the usual services together with 1 baptism, 2 marriages and 9 funerals, plus internment of ashes and one burial without church service. We must mention here the strength of our connection with St. Giles School. Not only is the Friday service always well attended by parents and carers, as a result of one of Fr. Peter’s initiatives, the children are involved in processing and serving at School Eucharists. Our bimonthly programme of charitable giving continued throughout the year. The PCC and Standing committee met at monthly intervals and we are so grateful for the dedicated caring support of all the members. As wardens and particularly in the vacancy our burden is so lightened by the dedication and efficiency of the various committees. Our thanks and appreciation go to those who give their time and work so hard including secretary, treasurer, organist, sacristans, servers, sides people, verger, church yard workers, cleaners, flower arrangers, other committee members plus the editor, contributors to and distributors of 'Parish and Parishioner'. Page 3 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **Registered Charity Number 1154482** ## **ANNUAL REPORT for 2025 (continued)** ## **Achievements and Performance** The Electoral Roll was reviewed. 118 were on the roll, with 2 died and no new members; 20 not resident in the village. The maximum number attending on any Sunday in October was 59, including 14 children, the average number being 41. Both these figures included people attending by Zoom. 15 people attended the All Souls Requiem, with 12 taking Communion. Attendance at Services is fairly constant though remains lower than pre-pandemic levels. The Zoom invitation is sent most Sundays to the majority included on the Electoral Roll with some regular attendees, including some residents at Westall House. One resident received Home Communion until the Vacancy. There were 11 regular P.C.C. meetings throughout the year, in the Rectory during the winter months to reduce heating costs until the Vacancy, and in the Martindale Centre. All Sub-Committees met as required, reporting to and represented on the P.C.C. 1 person was baptised but no Confirmations. There were 2 weddings and 9 funerals. HKPCC highlights of Church life for the benefit of the Community included in 2025: - Baptismal Promises, from the Church of England Pilgrim Course, was followed as our Lent Course at two places and times. It doubled up as Confirmation preparation for 2 adults from our parish. - A Christingle Service was held on Christmas Eve and attended by 268 children and adults. - HK- Help continue to provide support to the community, including transport for medical needs, as required, though there is little demand. - HKafe continues to be held at the Martindale Centre during term time, led by volunteers from Danehill and Horsted Keynes catering for secondary school age children. - First Steps, the baby and toddler group, meets at the Martindale Centre during term time, giving an opportunity for small children and their parents and carers to meet in a safe environment. - St. Giles Church of England Primary School holds a weekly Collective Worship in church in term time, led by Fr. David, Fr. Peter and members of the congregation, and a termly Eucharist. All services are attended by a significant number of parents and carers. The Junior School Carol Service was held in church and was very well attended, 80 children and 100 adults. - Village Lunch is held monthly in the Martindale Centre. Food is cooked by varied teams of volunteers and is enjoyed by an increasing number of people, from the village and beyond. A group of Year 6 pupils from St. Giles School are brought by a Governor to help serve puddings. The Friends of Horsted Keynes Church (FOHKC) continues to raise funds to maintain the fabric of the church and the churchyard by arranging a wide range of events. The Parish and Parishioner (P&P) editor continues to produce and publish the magazine 10 times a year. Volunteers collate and distribute them to all houses in the village and copies are posted to those requesting them. Page 4 HORSTED KE￿￿Es PAROCHIAL CHURCH COUICIL Reglstered Charlty Number 1154482 ANNUAL REPORT for 2025 {contlnued) Fi*￿n{la1 Revlew The net ineoEDe in 2L?5 a deficit of £7.036. This figure ts on page 7 and compar¢% with the t)et surplus of £2.560 In 1024 after excluth'ng th¢ legaey of £50.0￿. (ln occordance w".tth th¢ th>tkor"6 ￿l$he$. the l¢g&cy 1$ iiot av¥ilabl¢ tor the day-tfyday actiVitiC5 of th¢ ¢hurth.} £5,¢MO of the loss 1# 2025 wa5 diie io thc drop ? the y¢ar end i'aluafion of the iAve5tmethts. The Ios8 on actii'itie& through the yelr WB$ ther¢for¢ £1.996 1£7.n.16 - £5,040). 2. Table 2lal 5how¥ that the overnll of donBiions £76.427. fn 2074 this figure yys £79,478, eXC￿ding the legacy. "rhu5. the valu¢ of donatsons is not keepill8 p8¢¢ with inllatiotL thi's sittjation lleed8 to be reverwj as soon a$ possible. 3. TJble Ilbl records chU￿h RunDitLg expenses return￿ io a ll￿re tyy'cal level of £13,9761£19.78? in 20241 and inLludtd work io extend ih¢ Mernorial Path lry S metr$. The tabn"c of ihe Church is in gocd eondiiinn at)d sii the relared c¢Mts are miniixnl ai the moment. The parish contintsed to fully cover th¢ contribution Tcquested by ihe dioL'ese for A half time priesL 'I'hL Martindal¢ CentrL had & y¢ar for rcDtal in¢omc but ¢x￿ndi1Ure on tL'pairs. inch￿1￿8 extcn51V¥ WO On ITecs, kepi Ihe surplus down 10 £822 1£3.813 in 2024). 5. Tru%lLY poyment8 atjd expen￿*.. Lhr PCC suwK)rted the clLYgy by payinB Il* c051 nt'rt¢lury utilities ui)IL>unlin to 13.Qll)12024 - £4,267) pl￿* 01h¢r AnnLLal Costs ￿wIlTdS travel. telephone. ￿>S[Abl¢ and bm*dband tOLallin £CAI (1024 £872). Snvings ￿'Cre larsely due 10 the K¢¢iory bcing empij fmm AugiisL These ar¢ incliided ul bli 3lbi. Th¥Y¢ %VLre n(Tr L'xpenbts payinenis lo othcr or pmon$ ￿tated 10 ur ¢umheci¢d io Ih¥Th. 6. Table 7 lh¢ dethil ofihe drop in lh¢ ￿7￿4170￿ ofihc filed a%scl invesimcnts r¢f¢rKd 10 Abowe. li t¢Trer8d the g&iri rnade Ir> 2024 and w8s typical of $i(Kk MI￿¢¢ falls generally. 1The rLlated diitidcnds PrOv￿Cd Y￿tIll Ix¢i)mL' of £2,8051£2.549 in 20241. 7. TJblc 12- noie thai ihe budg¢kd yearcThl balinte of £0 in the P&P fijnd wats aehi¢vcd After takinB £450 from thL G¥n¢rnl Fund. 8. The Friends of Horsied Kejmes ChU￿b grosk I￿Orne V4•S £8.577. The JM)n¢y was primaTily spet)i on ih¢ church>iTd. 9. Ovcrnll, the PCC'S fLt)anriJl posiiivn ai the cnd of 2025 ￿tisfir10ry. Thc myin ¢￿usl of ¢Dnccrn is Ili¢ l¢v¢l ofth)nAtion5 ￿ the Gerlerrtl Fund. Aiibougk Ihe ¥honfaU ts not IArg¢, some fw)d roi5in8 is beuw plNnned before itbccom&s a 8criouB issue. Reserves PThlley A ￿Vi<11. of the ￿get￿rg poIiLy aThl ri$k rcgisler wxs undertaken dwing the wthich again r&wlted in no signiticant ¢han8e. An unrcstrici¢d Gcnrral Fllnd rcscrvc of £25.￿0. apprtsximately 3 months of o%'erall cXPLDdin￿c on ¢v¥ryday artivii¢e%, Js n¢i¢JuJ as ￿ Ll)filin¥LMy kL¥ainsl unfvr¢sc¢n stbJaiion¥. On 31 Deccmb¢r ti02f thL balance ivas £49,44? (£55 JSO In 20?4}. A iolal (If £27.199 (£30.156 in :W41 held in ¢he Unresrrieted #nd Restrici¢d Fabri< Funds lli th¢ y¢8rend. 'lliis'frusice5' Atknu31 Rcport was approveil by thc PCC aud 5igncd on their bEbalf by Barbdra l*aiTh'e•ther A¢iin# Chairnlan . Page 5 INDEPEJ'DENT EXAMINER'S REPORT TO THE TRUSTEES OF Hor$t¢d Keynes Paro¢hlAI Chur¢h Council IRegistered Charity Jo. 11544821 I report on the accowits of Horsted Kwe$ PCC for Ebe year ended 31st December 2025 which arc set out on pagpcs 7 to 14. RLSPLCtlvL' rc5punsibiliti¢s of trus￿9 and examiner 'I'h¢ church's inxsi¢¢s are r¢.gponsiblc for the prcparation of thc accounts. The church's trustets considcr that audil 18 not required foi thi% year und¢r 14412) orth¢ Charities Aci 2011 (Lbe 2011 Aci) and thai an indcpendcnl examinalion is needed. Having ￿tiSfied myself ihat the church is eligible for independent examination. il is my resEK>nsibility lo cxwnine the a¢¢oun¢s under $¢¢tion 145 of the 2011 Act- to follow th¢ pr￿edureS laid dovrn in tl)e general DirectiODS given by the Charity Commission und¥Y $e¢ti(Jn 145(5){b) of the 2011 Art: #nd * tu state whether particul4T matteT5 have come to my aitenlion. BASIS of Independent exam5ntr'$ stitemtnl My examination was ¢&rried out in accordance with the gen¢ral DirectiQDS ¥iven by the Charity c.ommission. An cxamination includcs a TCVICW of thc accounting TLYord8 kcpi by ihg charity and 8 cun)pttrison ()f the aL¥ounts pr¢seiil¢d with ihose records. li also in¢lud¢s ¢oi)sid¢raiion of ony unusual items tsr dis¢loiur¥s in ihe a¢u)unt¥. and i¢¢king Cxplanaiivns fwm you os trusteeb LonLernin¥ uny suoh Inuiters. The proLedure5 uiidertaken do not provide ull the eviden¢e th81 would be required in Bn Audit nd i()ns¥qu¢nily no s¢1 out in the Churilie¥ (Accounls and RcpoTts) Rc¥ulaiions 20Ui¢ ()ihcr any rcquii'cmcnl that the a¢counLs wv¢ a 'true and fair. view which 15 noi a malter con5idcred as parl of an ind¢pend¢nl ¢xwninalion. I hyvL cumc across no othcr rnbttcrs in ¢onncciiOX wilh th¢ Cxominalion to which att¢niion should b¢ drawn in ordcr to cnabl¢ a prop¢r und¢rstandin¥ of the accounts to ￿ reached. Signed by :_ Helen Hord FCCA Oak5view. Lewe5 Road Horstrd Ke￿￿¢5 Hayw&rds Heath RH17 7DP Signature: . Date.. Pg8e 6 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **STATEMENT OF FINANCIAL ACTIVITIES For the Year ended 31st December 2025** |Note
**Income and endowments from:**
Donations and legacies
2(a)
Charitable activities
2(b)
Other trading activities
2(c)
Investments
2(d)
**TOTAL**
**Expenditure on:**
Raising funds
3(a)
Charitable activities
3(b)
**TOTAL**
Net gains/(losses) on investments
7
**NET INCOME/(EXPENDITURE)**
Transfers between funds
**NET MOVEMENT IN FUNDS**
**Reconciliation of Funds**
Fund Balances brought forward
at 1st January 2025
**BALANCES CARRIED FORWARD**
**AT 31st DECEMBER 2025**|£
£
£
62,765
13,662
0
5,795
0
0
18,873
3,567
0
2,338
3,390
0
Unrestricted
Funds
Restricted
Funds
Endowment
Funds|**TOTAL**
2025
**FUNDS**
2024
£
£
76,427
129,478
5,795
6,384
22,440
26,974
5,728
3,828| |---|---|---| ||89,771
20,619
0|110,390
166,664| ||3,257
543
0
89,813
17,856
917|3,800
7,772
108,586
111,403| ||93,070
18,399
917|112,386
119,175| ||(3,328)
(1,215)
(497)|(5,040)
5,071| ||(6,627)
1,005
(1,414)
0
0
0|(7,036)
52,560
0
0| ||(6,627)
1,005
(1,414)
77,301
102,802
79,977|(7,036)
52,560
260,080
207,520| ||70,674
103,807
78,563|253,044
260,080| Page 7 HORSTED KEYNES PAROCHIAL CHURCH COUNCIL BALANCE SHEET AS AT 31st DECEMBER 2025 2025 2024 Not¢ FJXLD ASSE"1'5 Tangiblc tixd Inyestinenl a￿¢￿8 68.954 88.770 70.802 93,810 CURRF.NT AS.SETS Dcbtors Sliort t¢rm dq)osilS Cash ai bank and in hand 2296 77.[￿) 17,593 96.889 2,345 31229 19.063 52.6.17 LIABILITIES .. ANIOUNI¥I FALLINC DUF. II'ITHLN ONE YEAR 10 .569 2.730 NETCURRENT ASSET5 115,320 441,91)7 TOT AI, ASSF.TS T,FSS CLRRF.NT I.IABII.ITIFS 253.044 214.519 NTr:'I' AS8b:TS 25.1.044 214,$19 TrUNDS Unrcxtricled Rtsti'icted Elldowment 70.074 103.807 78.565 77,301 102,802 79.977 12 13 TOTAL CHARITY FUNDS 253,044 260,080 'I'hi% Trinancixl Report IOT lh¢ y¢8r ¢ThJ¢d 3 1st December 2025, includiD8 thc not¢s followitw was approv￿1 by thL PamLhiul Churnh Coun¢il 9th Aptil ?(r$6 ond SiB[￿j OD its behalfby:" Barh&ro Fwrxvaih {Actan8 alaim￿ttl AlartiN Giwas (Trcasurcr) Thr notes. on pagts 9 to 14 forni part of these P8ge 8 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31st December 2025** ## **1 ACCOUNTING POLICIES** ## 1(a) ## **Basis of Preparation** The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and the Church Accounting Regulations 2006, in accordance with applicable accounting standards and the current Statement of Recommended Practice, Accounting and Reporting by Charities, (SORP (FRS 102)). The financial statements have been prepared under the historical cost convention as modified by the inclusion of investments at market value. The financial statements include all the transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those which are informal gatherings of church members. - 1(b) **Funds** Funds held by the PCC are :- _Unrestricted funds -_ general funds that can be used for PCC ordinary purposes. _Designated funds -_ monies set aside by the PCC out of unrestricted funds for specific future purposes or projects. - _Restricted funds -_ (a) income from trusts or endowments that may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. - _Endowment funds -_ funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established. The PCC may have the power to convert certain endowment funds into expendable income; such funds are known as expendable endowments. ## 1(c) **Income and Endowments** All income and endowments, accounted for without deduction for any costs of receivability, are recognised when there is evidence of entitlement, receipt is probable, and the amount can be measured reliably. ## 1(d) **Donations and Legacies** _Collections_ are recognised when received. _Planned giving receivable_ is recognised when there is evidence of entitlement, receipt is probable, and the amount accords with the Gift Aid declaration or other record of intention to donate. _Gift aid recovered_ is recognised when the income to which it is attached is recognised. _Grants and legacies_ are recognised when the formal offer in writing of the funding, is received by the PCC. ## 1(e) **Charitable Activities, Trading Activities and all Other Income** _Statutory fees_ for weddings and funerals are recognised when the office occurs. - _Trading activities_ are where income is receivable in return for selling goods or providing services and is recognised when received. - 1(f) **Investment Income** Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. - 1(g) **Gains and Losses on Investments** Realised gains are recognised when the investments are sold. Unrealised gains and losses are accounted for on revaluation at 31st December. Page 9 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the Year ended 31st December 2025** ## 1(h) ## **Expenditure** Expenditure is recognised when there is evidence of entitlement, payment is probable, and the amount can be measured reliably. ## 1(i) ## **Grants** Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the PCC. ## 1(j) ## **Charitable Activities** The diocesan parish contribution is accounted for on an annual basis, reflecting the allocation set by our Deanery. Any parish contribution unpaid at 31st December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet. ## 1(k) ## **Fixed Assets** ## _Tangible fixed assets._ Consecrated and beneficed property of any kind is excluded from the accounts by s.10(2) of the Charities Act 2011. Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's inventory which can be inspected but are not included in the financial statements. For inalienable property acquired prior to 2000, there is insufficient cost information available and therefore such assets are not valued in the financial statements. Individual items acquired since 1st January 2000 have been capitalised in the financial statements and depreciated over their useful economic life. All expenditure incurred in the year on consecrated or beneficed buildings, individual items costing under £5,000 or on the repair of movable church furnishings acquired before 1st January 2000 is written off. Freehold land and buildings are valued at original cost less provisions for depreciation. Renovations to freehold buildings are valued at original cost less provisions for depreciation. ## _Depreciation_ Depreciation is calculated to write down the cost of tangible fixed assets over their expected useful lives. The rates generally applicable are :- Freehold land and buildings 1% per annum on a reducing balance basis. Renovations to freehold buildings 2% per annum on a reducing balance basis. ## _Investments :_ Investments are valued at market value at 31st December. |**2**
**INCOME AND ENDOWMENTS**
2(a)
Donations and legacies
Planned giving
Collections (open plate)
Donations
Gift aid tax claimed
Grants received
Legacies
2(b)
Charitable activities
Parochial Fees income|Unrestricted
Funds
Restricted
Funds
Endowment
Funds
£
£
£
36,928
2,856
0
6,949
1,012
0
5,084
5,659
0
11,654
1,340
0
2,150
2,795
0
0
0
0|**TOTAL**
2025
**FUNDS**
2024
£
£
39,784
40,919
7,961
7,766
10,743
9,629
12,994
12,683
4,945
8,481
0
50,000| |---|---|---| ||62,765
13,662
0|76,427
129,478| ||5,795
0
0|5,795
6,384| ||5,795
0
0|5,795
6,384| Page 10 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the Year ended 31st December 2025** |2(c)
Other trading activities
Fundraising income
Hall income
2(d)
Investments
Dividends and interest received
**TOTAL**
**3**
**EXPENDITURE**
3(a)
Raising funds
Fundraising costs
3(b)
Charitable activities
Missionary and charitable giving
Ministry costs :
Diocesan Parish Contribution
Other ministry costs
Church running expenses
Church & hall - Major repairs & fabric costs
Upkeep of services
Youth work, training and mission
Parish magazine
Church hall running costs
Support costs
Administrative costs
Depreciation
**TOTAL**|884
3,567
0
17,989
0
0|4,451
8,976
17,989
17,998| |---|---|---| ||18,873
3,567
0|22,440
26,974| ||2,338
3,390
0|5,728
3,828| ||2,338
3,390
0|5,728
3,828| |||| ||89,771
20,619
0|110,390
166,664| ||Unrestricted
Funds
Restricted
Funds
Endowment
Funds
£
£
£
3,257
543
0|**TOTAL**
2025
**FUNDS**
2024
£
£
3,800
7,772| ||3,257
543
0|3,800
7,772| ||715
1,876
0
54,250
0
0
4,532
0
0
7,546
6,430
0
0
3,271
0
1,102
0
0
573
0
0
451
5,799
0
14,520
0
0
817
402
0
5,307
78
0
0
0
917|2,591
1,630
54,250
52,557
4,532
5,139
13,976
19,782
3,271
5,344
1,102
995
573
1,912
6,250
6,371
14,520
10,833
1,219
1,235
5,385
4,674
917
931| ||89,813
17,856
917|108,586
111,403| |||| ||93,070
18,399
917|112,386
119,175| ## **4 STAFF COSTS** The PCC had no employees during the year. ## **5 INDEPENDENT EXAMINATION FEES** The Independent Examiner has not charged a fee for their work. ## **6 ANALYSIS OF NET ASSETS BY FUND** |**LYSIS OF NET ASSETS BY FUND**||| |---|---|---| |Fixed assets
Current assets
Current liabilities
Fund Balances|Unrestricted
Funds
Restricted
Funds
Endowment
Funds
£
£
£
56,284
22,877
78,563
15,704
81,185
0
(1,314)
(255)
0|**TOTAL**
£
157,724
96,889
(1,569)| ||70,674
103,807
78,563|253,044| Page 11 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the Year ended 31st December 2025** ## **7 FIXED ASSET INVESTMENTS** |Church of England CBF Investment Fund :
538 income shares (see note below)
Church of England CBF Global Equity Fund :
25306.82 income shares|Market Value
at 1st January
2025
Additions
Disposals
Gains/
(losses)
Market Value at
31st December
2025
£
£
£
£
£
12,439
0
0
(497)
11,942
81,371
0
0
(4,543)
76,828| |---|---| ||93,810
0
0
(5,040)
88,770| Note - the 538 shares are held specifically for the Bridgeman Churchyard Trust Fund. ## **8 TANGIBLE FIXED ASSETS** |Cost :
At 1st January 2025
Additions
Disposals
At 31st December 2025
Depreciation :
At 1st January 2025
Charge for the year
Disposals
At 31st December 2025
Net book amounts
At 31st December 2025
_At 31st December 2024_|Freehold
land and
buildings
Building
renovations
**TOTAL**
£
£
£
69,681
44,927
114,608
0
0
0
0
0
0| |---|---| ||69,681
44,927
114,608| ||21,666
23,071
44,737
480
437
917
0
0
0| ||22,146
23,508
45,654| ||| ||47,535
21,419
68,954| ||_48,015_
_21,856_
_69,871_| The freehold land and buildings comprise the Martindale Centre, the legal estate of which is vested in the Chichester Diocesan Fund and Board of Finance (Incorporated) as Custodian Trustee for the Horsted Keynes PCC in accordance with the provisions of the Parochial Church Councils (Powers) Measure, 1956. ## **9 DEBTORS** |**9**
**DEBTORS**
Recoverable Gift Aid
Other sundry debtors
**10**
**LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Creditors for goods and services
Deferred income|2025
2024
£
£
1,339
2,188
957
157| |---|---| ||2,296
2,345| ||2025
2024
£
£
1,569
2,730
0
0| ||1,569
2,730| Page 12 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the Year ended 31st December 2025** ## **11 UNRESTRICTED FUNDS** |**UNRESTRICTED FUNDS**|| |---|---| |General Fund
Designated Fabric Fund|Balance at
1st. January
2025
Incoming
Outgoing
Transfers
Gains
Balance at
31st December
2025
£
£
£
£
£
£
55,330
89,209
93,070
0
(2,027)
49,442
21,971
562
0
0
(1,301)
21,232
Movements in
Resources| ||77,301
89,771
93,070
0
(3,328)
70,674| ## **12 RESTRICTED FUNDS** |**RESTRICTED FUNDS**|| |---|---| |Building Repairs and Fabric Fund
Charitable Collections Fund
P&P Magazine Fund (i)
Martindale Centre Income Fund (ii)
Building Appeal - 2004 Fund (iii)
Restricted Gifts Fund
Friends of Horsted Keynes Church (iv)
Restricted Martindale Centre
Refurbishment Fund (v)
St Giles North Annex Appeal Fund (vi)
PRV Memorial Fund (vii)|Balance at
1st. January
2025
Incoming
Outgoing
Transfers
Gains
Balance at
31st December
2025
£
£
£
£
£
£
5,660
278
978
0
(36)
4,924
0
1,876
1,882
0
0
(6)
0
5,469
5,469
0
0
0
2,333
0
0
0
0
2,333
2,525
848
2,293
0
(37)
1,043
0
1,375
625
0
0
750
41,587
8,577
7,152
0
(1,141)
41,871
182
0
0
0
0
182
0
0
0
0
0
0
50,515
2,195
0
0
0
52,710
Movements in
Resources| ||102,802
20,618
18,399
0
(1,214)
103,807| (i) The P&P Magazine Fund receives donations and grants specifically for the production of the parish magazine. (ii) The balance on the Martindale Centre Income Fund represents the cost of some of the historical building renovations. (iii) This fund was opened with donations from the Village Appeal in 2004 for repairs to the fabric of the church. Monthly donations have continued to flow into the fund during the year. (iv) This restricted fund was launched in September 2011 specifically for the maintenance of the fabric of St. Giles Church and churchyard in Horsted Keynes. (v) This fund was re-opened in 2019 to receive restricted income towards the cost of refurbishing/upgrading the heating system in the Martindale Centre. Most of the costs of refurbishing/upgrading the heating system were charged to the fund in 2019, leaving a small balance to carry forward. (vi) This appeal fund was opened in March 2016 to fund the planning and construction of an annex to the north of the St Giles church building. (vii) This restricted fund was created in July 2024 following the receipt of a legacy from the late Peter Richard Vince. Mr Vince expressed the wish that the legacy be used for any current ongoing projects at the time of his death. Page 13 ## **HORSTED KEYNES PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the Year ended 31st December 2025** ## **13 ENDOWMENT FUNDS** |**ENDOWMENT FUNDS**|| |---|---| |Martindale Centre :
Capital Endowment Fund
Bridgeman Trust Churchyard Fund|Balance at
1st. January
2025
Incoming
Outgoing
Transfers
Gains/
(losses)
Balance at
31st December
2025
£
£
£
£
£
£
67,537
0
917
0
0
66,620
12,440
0
0
0
(497)
11,943
Movements in
Resources| ||79,977
0
917
0
(497)
78,563| Page 14