Annual Report and Financial Statements For the year ended 31" December 2024 The Parochial Church Council of Ashford Town A Charity registered with The Charity Commission no 1171191
ASHFORD TOWN PARISH comprised of the Parish Churches of St Mary the Virgin, Ashford St Mary's, Kennington St Mary the Virgin, Willesborough St Mary's, Gt Chart St Michael & all Angels, Kingsnorth Christchurch, South Ashford the Chapels of Ease of St Mary's Sevington St Peter & St Paul, Shadoxhurst St Francis, South Ashford And the Worshipping Communities of Singleton Community Church and Ignite Website www.ashfordtownparish.co.uk
ASHFORD TOWN MINISTRY TEAM Team Rector Rewd Dr Jeremy Worthen 7 Augustine Drive. Willesborough TN25 7GH Team Vicars Re¢d Jo Purle The Vicarage, 212 Faversham Road, Kennington, Ashford TN24 9AF Re¢d Adam Childs The Rectory, Church Hill, Kingsnorth, Ashford TN23 3EG Rev'd Teena Twelves The College, Churchyard, Ashford TN23 IQG Associate Priests Revd Dawn Stamper (Until March 2024) Re¢d Cathie Aldis-saunders: Rev'd Charlotte Coles Assistant Curate Rev'd Dr Steven Horne (from July 2024) Lay Staff Mrs Sophie Carnaby-Denyer- Mission Enabler (Until October 2024) Hon Treasurer: Canon Shirley Leslie 76 Tritton Fields. Kennington Ashford TN24 9HL Hon Secretary: Mrs Sally Lees Bucksford Lodge, Chart Road, Gt Chart, Ashford TN23 3AE Independent Examiner: Mr S Whorlow FCA Cassidys Chartered Accountants South Stour Off ices, South Stour Road, Mersham. TN25 7HS Bankers Barclays Bank plc, 66 High Street, Ashford TN24 8TL The Parochial Church Council of the Ecclesiastical Parish of Ashford Town in the Diocese of Canterbury A Charity Registered with the Chairty Commission no. 1171191
Contents Annual Report Page I Independent Examiner's Report Page 12 Statement of Financial Activities Page 13 Balance Sheet Page 14 Cash Flow Statement Page 15 Notes to the Accounts Page 16 Pension Fund Disclosure Page 24
Annual Trustees Report 2024 Aim & Purpose The Parochial Church Council {PCC), has the responsibility of co-operating with the incumbent in promoting, in the ecclesiastical parish, the whose mission of the Church, pastoral, evangelistic, social and ecumenical. When planning activities for the year, the PCC gave consideration to the Charity Commission's guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion. Objectives & Activlties At its Annual Parochial Church Meeting in 2022, the following vision statement was agreed as encapsulating our hopes and prayers for the parish for the next five years: Our vision is to be a family of churches that is centred on Jesus, serving the community, and sharing our faith. As we have sought God's will for our parish over the next five years, we see this vision including: l. A rich variety of discipleship activities and worship services that enable people of different ages and stages of faith to live lives centred on Jesus 2. Initiatives that are serving the community by having a transformative impact on people's lives in the most deprived areas of Ashford 3. An evolving range of 'bridge' activities that build relationships with people who are not currently part of a church community, including those living on newer estates, and provide opportunities for sharing our faith Five parish priorities were agreed by the PCC for 2022-27 to support the achievement of this vision: l. Children, Young People and Families.. every church community is investing in this area of ministry, including work with schools 2. Serving the Community: range of different initiatives in terms of location and focus that are having a transformative impact on people'5 lives 3. Adult Education and Discipleship.. all adult congregation members are able to access a range of opportunities to support them in discipleship, including prayer, beyond Sunday services, and most are making some use of this 4. Oversight and Governance." positive sense of connectedness as family of churches reflected in strong team relationships and sustainable levels of financial support 5. Buildings.. on track for Carbon Net Zero in line with national and diocesan policy. As it seeks to achieve its priorities and fulfil its vision, the parish is committed to sustaining certain areas of activity as central to this. In particular, the parish Maintains a regular pattern of public worship Makes available weddings, funerals and baptisms for the people of the parish Encourages Christian discipleship for all ages Supports a range of activities to show God's love in practical action that responds to human need Ensures it5 buildings are maintained and where appropriate developed for use by the wider community as well as church congregations.
Achievements & Performance Priorities l. Children Youn Peo le and Families: eve includin work with schools Achievements included: Christmas Explored, previously offered by Kingsnorth and Shadoxhurst church community only, now hosted by three additional church communities across the parish, with over 2000 students from Primary Schools and nurseries taking part; Brick Church launched by Kennington CofE Academy. church communi is investin in this area of minist 2. Servin the Communit e of different initiatives in terms of location and focus that are havin a transformative im act on eo le's lives Achievements included: Ignite church launched with new LLT on 20th June 2024 with a mayoral visit, process initiated of seeking funding for second Ignite church, with focus on families, on Bockhanger estate. continuing strong levels of participation in Make Lunch at St Francis, with 400 meals served over the summer and 167 at Christmas, with Christmas Story Workbooks distributed to every child at Christmas and a Real Easter egg with accompanying story at Easter. ran 3. Adult Education and Disci leshi all adult con re ation members are able to access a ran eof ortunities to su ort them in disci leshi includin ra ond Sunda services and most are makin some use of this Achievements included: 'God's Gifts, widely used as Lent course across the parish; two sets of confirmation preparation sessions held; initial steps taken towards greater support for Authorised Lay Ministry across the parish; well-supported parish mini-conference on 'Sharing our Stories,. 4. Oversi ht and Governance: ositive sense of connectedness as famil of churches reflected in stron team relationshi s and sustainable levels of financial su ort Achievements included: introduction of new system for LLTS to be involved in setting and monitoring their budgets,, new 'ministry clusters, introduced from November, drawing church communities into local partnership with others under leadership of one of the permanent stipendiary clergy; new format for APCM aimed at widening range of voices that are heard; continuing work on strategic governance including review of off ice staffing , with regular review of policies and procedures including monitoring of the scheme of delegation, and of PCC responsibilities to those who work in the parish, paid and unpaid. 5. Buildin s: on track for Carbon Net Zero in line with national and diocesan olic Achievements included: replacement of oil-fired heating with electric heaters drawing on solar panel energy at St Mary's Kennington; initial survey of current heating systems in relation to Carbon Net Zero target. On-going activity All church communities continue to engage with Mission Action Planning. The project to improve access to St Mary's Great Chart by laying a new path, re-laying the porch floor and installing new doors was completed just before Christmas, after many years of discussion and planning. Indicators of attendance continued the trajectory we have seen of modest but significant growth year on year since 2021, with Average Weekly Attendance rising from 400 in 2023 to 420 and Usual Sunday Attendance from 335 in 2023 to 353, though the total here combines a very slight fall in
adults compared to 2022 with continuing strong growth in under 165, from 41 in 2022 to 51 in 2023 and 68 in 2024. Numbers of baptisms, funerals and weddings fell compared to 2023, with the sharpest fall in the number of weddings, from 18 in 2023 to 12. In March, the Rerfd Dawn Stamper left for a new post in a neighbouring parish. At Petertide, Steven Horne was ordained deacon to be licensed as stipendiary Assistant Curate for the parish and has been working across the Willesborough, Sevington and Christ Church cluster, preaching at Christ Church once a month to give him a greater breadth of experience, and to build upon the'high church, tradition which he has already experienced as far as possible within our parish. With his arrival, the team of licensed clergy numbered seven again. Financial Review Overview: We continue to work towards sustainability with a seven year plan approved by the PCC which provides for a gradually reducing shortfall of Parish Share with the ultimate goal of making full payment by 2030. In 2024 we have achieved much of that plan: 74.5% of the requested Parish Share was paid, representing an increase of 9.5% over the previous year's actual Share payment, but disappointingly, 0.5Yo less than the percentage aspiration. Nevertheless, this is no small achievement in times when pressures on household incomes continue to be challenging. For 2024 a revised approach to budgeting was introduced based on the concept of an equal proportion of available income being donated by each LLT to the Common Fund. For the purposes of this exercise, available income was deemed to exclude grant funding for specific purposes within the local area and, as the majority of the work involved in generating the income from Fees and Lettings was carried out in the parish office the income and expenditure of these two activities was moved to the Common Fund. Each LLT agreed its budget by the end of January 24 and monitored progress against budget on a monthly basis through the year. The overall result was a very small surplus in the General Fund of around £8,800 and a deficit of around £11,200 in the Restricted Funds- this in a year when significant major works amounting to £165,000 and buildings maintenance projects of £143,000 have been undertaken. The final surplus and deficit include the transfer from Restricted to Unrestricted status of Sgnite Funds. Revaluation gains amounted to £9,000 on our Investment Fund holdings and a very small gain in the Property Fund ending a run of several years of revaluation losses. b. Incoming Resources Planned Giving has remained largely static this year: the number of regular givers has fallen slightly from 118 to 108: this has been partly balanced by those who subscribe to the principal of tithing and have been able to increase their giving as they do each year. There has, however, been an upsurge in service collections which have doubled in value from largely the same number of services and a very small increase in average attendance. This would indicate that the pressures on household incomes were such that people were more comfortable contributing through the open plate as and when they felt able rather than committing to regular giving. We no longer use the weekly envelope scheme, having phased this out over a number of years, as we are able to claim Gift Aid under the Small Donation
Scheme on open plate collections. Those who are able to Gift Aid as individuals tend to contribute through one of the various methods of regular giving. Income from lettings is up by almost £8000 this year compared to last despite the loss of some regular hires.. significant repairs were undertaken particularly at St Marls Community Centre (Kennington) resulting in a net income reduction of over £14,000. Our halls continued to be widely used by uniformed organisations but despite the fact that we offer them discounted rates many are struggling to generate suff icient income. Fee income remained buoyant although marginally lower than the previous year. We condutted 74 funerals compared with 109 in 2023. There was an increase in the number of weddings from 21 to 26 and we already have 21 booked for 2025. Fundraising was also marginally higher than in 2024 despite challenging times: the summer fayres were blessed with good weather which is a vital component of successful outdoor events. These major events demand much time and effort in planning, preparation and - not least- in generosity from our congregations in donating goods and time on the event days and we are especially grateful to the small teams in each of our churches who tirelessly work to ensure the success of ourfund raising efforts. The cafe activity at Willesborough (weekday mornings) and at St Mary's in the town centre {Tuesday and Saturday mornings) continues to be successful resulting in net income of around £11,000: Sunday and Wednesday coffee at Kennington added a further £IOOO. Link Lunches which more or less broke even in 2023 produced a net income of £2000 (excluding the cost of a commercial dishwasher at Kennington which was largely covered by donation) across the three activity centres of Kennington, Willesborough and Kingsnorth. Again we 3re grateful to the three small teams who manage this activity which is essentially outreach to the respective communities rather than income generation. Kennington's activity increased from bi-monthly to monthly during the year and, thanks to a very generous parishioner donation, upgraded their dishwasher to a high-speed commercial machine. Expenditure Unrestricted expenditure increased by a little over 9Yo in the year, the main increases being in Parish Share (£18,600), Mission and Outreach (£8,500) and Hall running costs (£5,400). The requested Parish Share increased by only 4% but as already mentioned, we have a planned route to financial sustainability, ensuring that the amount of shortfall is gradually reduced year on year. Historic arrears amount to £247,332 to which we must now add the 2024 shortfall of £75,000 bringing the total outstanding to £322,332. Note 8b on page 20 explains the rationale governing the fact that this debt is notional and not stated in the liabilities of the parish. Spending on Mission and Outreach has doubled as our Mission Action plan gains impetus and Hall running costs have increased largely due to essential maintenance which has been carried out at Kennington and Christchurch although the latter has been sourced from a Restricted fund. At Kennington, extensive work was carried out to renew the seals of the Velux roof lights and phased work to renew the chair seat coverings is in progress. 40 of the 60 chairs have been reupholstered, replacing the foam padding with better quality and recovering the seats in vinyl which will hopefully prove to be more hard-wearing and easier to clean than the former fabric covers. Hall energy costs have increased despite the cost
st savings reported last year effective from l October 2023. this is partly due to electricity costs for a full year being reflected in the 2024 accounts whereas in the previous year for much of the year the electric meter was not registering any usage. In addition, the energy costs at Willesborough are for the first time apportioned to reflect the letting activity which has grown significantly over the last 2 years. During the year Mrs J Stamp (assistant administrator) opted to join the Church Workers Pension Fund and elected to backdate this to the start of her employment in November 2021. The PCC agreed to fund the backdated contributions of both employer and employee totalling a little over £2,000. Mrs Stamp resigned from employment by the parish on 31 August 2024 St d. Restricted Funds Restricted income is showing a 152% increase over 2023 as the Gt Chart path project came to fruition and a major fundraising campaign encouraged donations which totalled £123,500 and grant funding of £18,000. Insurance claims covering the work of decontamination following the kerosene leak in December 2023 at Kennington have totalled £60,500 and VAT recovered through the Listed Places of Worship scheme have amounted to more than£12,000. Grant support from Ashford Parochial Charities amounting to almost £43,000 reflects the amount of fabric maintenance that has been required this year. The Town Centre Organ fund continues to grow steadily but some essential maintenance has been necessary so the end of year total remains a little below year's. Expenditure through Restricted funds has been extensive. The Gt Chart path project has cost £76,000 thus far with project fees of £9,000.. the work is ongoing but nearing completion. At Kennington the Kerosene leak decontamination costs have amounted to £72,600 and the work is ongoing, although nearing completion: the final phase of groundwork revealed an hitherto un-noticed problem with waste water drainage which cost £6,000 for a replacement pump. A new screen and projector were installed at a total cost of £21,088 of which £17,700 was released from the Restricted School fund. At Christchurch a total of £9,500 was spent on boiler upgrade, heating work and car park resurfacing. As part of the Quinquennial repair programme £4,500 was spent at Willesborough on fabric maintenance and the Fund which was launched in 2022 to support the people of Ukraine was completed in the year with the handing over of £2,000 to be used to support the medical teams working with front line troops. Custodial Funds Custodial Funds held on 31st December 2024: Kingsnorth Bellringers, Fund £2792.11 Kingsnorth Africa Trip postponed from 2020 £2200.00 Full details of the financial movement on each Restricted Fund can be found at Note 9 on Page 21 and the purpose of each Fund is detailed at Note 14 on Page 23 of this Report. In conclusion 2025 may well turn out to be even more challenging than 2024, but we look forward with hope and will continue to strive for sustainability. Without doubt, this will involve tough decisions on spending:
we already know that the Parish Share increase is 6% where our original forecast was based on 4°A and this will adversely impact the 7-year plan. We need to be imaginative in finding new income streams or ways to increase the sources we already have: increasing income where the main source is voluntary is never easy. There are no membership fees, the church is free to all and all are welcome. Generosity is at the very heart of our existence and the core of our financial success or failure. May our mantra be "Give to God what is right not what's left" The PC has approved a revision to the Reserves Policy Total Funds at 31st December 2024 The PCC aims to maintain a balance on Free Reserves of not less than 12.50/0 of annual unrestricted expenditure. For 2024 the requirement would be a minimum of £57,182: actual Free Reserves are as shown in the following table:_ Funds Free Reserves Restricted Reserves Endowment Reserves: Amount £73,107 £482,908 £15,752 Held in; Cash and bank, bank dep051t, debtors and liabilities Deposits, Investments, debtors and liabilities Investments held by the Diocese as Custodial Trustee Future Plans As noted above in section 2, we have a vision statement to shape our life as a parish up to 2027, and five priorities to 5UPPOrt that. In 2024, the parish agreed to seek alignment between its priorities and the 2030 Outcomes in the new version of the Deanery Plan. Each of our seven church communities identifies priorities and goals of its own within this framework as part of the Mission Action Planning process. The decision was taken this year to move from a January to December to a September to July cycle for this. The PCC has set cross-parish goals for 2025 linked to the five priorities for 2022-27, as summarised below. Priorities for mi55ion, 2022-2027 parish-wide Cross-parish goals for 2025 (i.e. additional and complementary to those in LL T MAP documents) l. Children, Young People and Families.. every church community is investing in this area of ministry, including work with schools (i) Following a review of Christmas Explored, create opportunities for local churches to participate in leading Experience Easter/Christmas Explored provision across the parish {ii) Establish 'Early Intervention, (mentoring) programme with local schools and TLG. (iii) Make case for one or more Children, Youth and Families ministers serving the parish alongside SCC Youth Minister, with agreed funding model.
Priorities for mission, 2022-2027 parish-wide Cross-parish goals for 2025 {i.e. additional and complementary to those in LL T MAP documents) (i) Develop SMATC as hub for multi-agency working. 2. Serving the Community." range of different initiatives in terms of location and focus that having transformative impact on people's lives are (ii) Plant'lgnite families, in the parish with externally paid Ignite Enabler. (iii) Ensure sustainability of St Francis Hub 3. Adult Education and Discipleship.. adult congregation members are able to access a range of opportunities to support them d iscipleship, including prayer, beyond Sunday services, and most are making some use of this (i) Coordinate planning for parish mini conference that supports achievement of our parish vision. (ii) All church communities engage with LYCIG programme and PCC to consider how this might shape parish MAP, format of meetings and APCM going forward. 4. Oversight and Governance.. positive sense connectedness as family of churches reflected in strong team relationships and Sustainable levels of f inancial support (i) Welcome new resourcing church at CCSA as partner in mission and ministry in our town, managing change well for current congregation and establishing mutually supportive relationship with new leadership. lil) Respond well togethEr to expected proposals for new 'settlement' regarding same-5ex relations from the bishops and General Synod, covering Prayers of Love and Faithlstand-alone as well as in existing seniices), pastoral guidance for clergy and laity, and provision for those in serious disagreement with national and / or diocesan approaches. {iii) Review ministry cluster trial in light of experience locally and diocesan tearn ministry review decide on whether further changes are needed to shape of team responsibilities etc. 5. Buildings.. on track for Carbon Net Zero in line with national and diocesan policy (i) Net Zero champion identified for each church community and Parish-wide network established to lead on progress. {ii) Work plan established for actions needed to achieve Net Carbon Zero target for 2030 with our church buildings (including halls).
Risk Management Principle Risk: 8.1.1 Insufficient or inadequate levels of regular giving to sustain payment of essential basic running costs 8.1.2 Although now only a small element of our incoming funds and widely spread across a team of volunteers, cash security always poses some risk albeit minor. Damage Limitation: Strict control continues to be exercised over expenditure. At parish level almost the only sanction available to protect cash flow is reduction in payment of Parish Share. As a PCC we were committed to full payment since the Ashford Town Parish was formed but the effects of the pandemic decimated free reserves. This decision to limit payment of Share was taken with much regret and as a last resort. A 7-year plan is anow in pace to achieve sustainability. The PGS scheme offers the opportunity to increase giving annually. Generosity Sunday is now common practice at least once a year in every local church community when generous giving not only of money but also of time and talents is preached and encouraged. Contactless devices are now in place at Kingsnorth, Kennington and St Marvs Town Centre with further devices planned for Willesborough and Singelton in the first quarter of 2025. 8.3 Future Management Going forward, Risk Assessments for all our buildings will need to be regularly reviewed and updated. As part of the Mission Action Plan, numerical growth in membership and new income streams will be investigated and we will continue to try to convert cash giving to electronic or other forms which can be easily sustained through any future crisis. Good stewardship and the promotion of generosity will be at the forefront of our financial planning, We will continue to explore and develop facilities for digital giving at public services, especially at weddings and funerals. These methods are much dependent on good internet or mobile phone connections and our church buildings are not always blessed in this way. However, technology is always moving forward and we will constantly monitor developments. We have invited all church members to register with PGS and will continue to foster generosity - generosity towards creation, towards other people, being generous with our time and our skills as well as Wlth our money. We have registered with HMRC for the purpose of processing GASDS claims and Gift Aid claims where donors have not transferred to PGS. Information in Diagrammatic Form The following charts show in diagrammatic form the basic elements of Income and Expenditure with some further analysis of church running costs and finally, a chart which depicts a comparison of the changes in income and expenditure levels over the five years 2020 to 2024.
UNRESTRICTED INCOME 2024 £46.794. £133.547. £212,208, £65,506. Planned Giving Collections & Donations Church Activitles Grants and Other income UNRESTRICTED EXPENDITURE 2024 Cost of trading & fund raisin& £52,277 Church Running Costs. £113.047 Parish Share. £219,037 Ministry & Mission. £73.023
ANALYSIS OF CHURCH RUNNING COSTS 2024 Everything else. £29,710 Insuranc Maintenance, £22,905 Energy & water, £37,333 5-Year Unrestricted Income & Expenditure Comparison £600,000 £500,000 £400,000 £300,000 £200,000 £ioo,000 £0 2020 2021 2022 2023 2024 Income Expenditure io
10 structure, Governance and Management The PCC is a body corporate under the Parochial Church Council Powers Measure and operates in accordance with the Church Representation Rules 2011. It is a Charity registered with the Charity Commission number 1171191. The appointment of PCC members is govemed by and set out in the Church Representation rules. PCC members are ex officio, cOpted, or elected by the Annual Parochial Church Meeting to serve for a period of three years, retiring by rotation. During the year, the maximum number of chui'chwardens was increased from 2 to 7 being one form each local church. Lay members of both the Deanery and Di0san Synods are ex officio members of Ihe PCC. Membership Team Rector and Chair of PCC.. Rev'd Dr Jeremy Worthen Clergy.. Rev'd Adam Childs, Rev'd Jo Purle., Rev'd Teena Twelves, Associate Priests: Rev'd Dawn Stsmper (until March 2024), Rev'd Cathie Aldis-saunders; Rev'd Charlotte Coles. Deputy Chair of PCC & PCC Secretary.. Mrs Sally Lees Lay Staff: Mrs Sophie Carnaby-Denyer (until October 2024) Church Wardens: Mr Jerry Fox (until April 2024)., Mrs Jenny Flaherty; Mr Julian Sheehan; Miss Caroline Hannah.. Mrs Claire Mullard (from April 2024). PCC Elected Members: To serve until April 2025.. Mrs Libby Varley; Mrs Lorraine Andrews To serve until April 2027.. Miss Amanda Hodgkinson; Mrs Christine Duchemin,. Mrs Kathryn Salmon Elected Deanery Synod Representatives (Ex Officio members of the PCC) Until 2026 APCM Mrs Jane Appleton; Mrs Sally Lees.. Mr Jacob Pradeep Elected Diocesan Synod Members (Ex Officio members of the PCC) Until 31st July 2027 Mrs Shirley Leslie: Mrs Jill Humphreys.. Mr Jacob Pradeep Mrs Shirley Leslie continued to serve as Hon Treasurer, assisted by Mr J Small (Gift Aid Claims) Mr R & Mrs T Fincher, (Local Gift Aid adminislrators), Miss J Wenborn (Local Gift Aid and banking administrator) and Mr J Donovan, Mrs H West, Mrs A Sorrell, Mr C Grove and Mrs K Small (Local Banking administrators). Mrs Lis Webb continued to serve as Safeguarding Offir. Mrs Libby Varley continued to serve as Electoral Roll Officer. The PCC met seven times during 2024.. Each local church has a Local Leadership or Local Management Team: these act as sub-committees of the PCC to deal with purely local matters of mission, ministry and fabric. Approved by the PCC on 22nd March 2025 and signed by Rev'd Dr Jeremy Worthen - Team Rector li
Independent Examinerfs Report to the Trustees of Ashford Town Parochial Church Council I report on the accounts for the year ended 31" December 2024, which are set out on pages 13 to 23. Respective responsibilities of the PCC and the examiner The Charity's trustees consider that an audit is not required for this year under Section 144{2) of the Charities Act 2011 {the 2011 Act) and that an Independent Examination is needed. It is my responsibility to examine the accounts under Section 145 of the 2011 Act follow the procedures laid down in the General Directions given by the Charity Commissioners in Section 145(5)(b) of the Act. and state whether particular matters have come to my attention Basis of Independent Examinerfs Statement My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit and consequently I do not express an audit opinion on the accounts. Independent Examlner's Statement In connection with my examination, no matters have come to my attention: which give me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with S130 of the 2011 Act: and to prepare accounts which accord with these accounting records have not been To which, in my opinion, attention should be drawn in order to reach a proper understanding of the accounts to be reached. Stuart Whorlow FCA Cassidys Chartered Accountants, Date 2G 2025 12
The Parochial Church Council of Ashford Town Statement of Financlal Activities for the year ended 31 December 2024 Unrestricted Funds Restricted Endowment TOTAL FUNDS Funds Funds TOTAL FUNDS 2024 2023 Note INCOMING RESOURCES Voluntary Income 2a 277,715 149,253 426,968 307,396 Activities for Generating Funds 2b 23.267 5,927 29,194 30,940 Investment Income 2c 5,148 10.939 873 16.960 14,006 Church Activitie5 2d 110.021 110.021 99,501 Other Incoming Resources TOTAL INCOMING RESOURCES 2e 41,978 149,428 191,406 126.726 458.129 315,547 873 774,549 578,569 RESOURCES EXPENDED Church Attivitles 3a 454,138 328.337 582 783,057 546.051 Raising Funds 3b 3,320 3,320 4,491 TOTAL RESOURCES EXPENDED 457.458 328.337 582 786.377 550,542 NET INCOMINGIIOUTGOINGI RESOURCES BEFORE TRANSFERS BElli4lEEN FUNDS 671 112,7901 291 111,8281 28,027 Transfers between Funds 8.162 17,S261 16361 NET INCOMINGIIOUTGOING) RESOURCES BEFORE RECOGNISED GAINS AND LOSSES 8,833 120.3161 13451 111.828) 28,027 Galns1llossesl on Investment assets.. Realised 4b Unrealised 4b 9,098 338 9,436 31,916 NET MOVEMENT IN FUND 8.833 111,2181 12,3851 59,943 Balance blforward @ 1st January 2024 64.273 494,127 15.752 574,152 514,209 Closing Balance @ 31 December 2024 73.106 482.909 15,752 571,767 574.152 13
The Parochial Church Council of Ashford Town Balance Sheet as at 31 December 2024 2024 2023 Note FIXED ASSETS PV Panels 40 2.929 3.564 Investments 4b 453,227 444.384 456,156 447,948 CURRENT ASSETS Debtors & Prepayments 30.509 34.485 Deposits 114,058 54,941 Cash at bank and in hand 65.660 92,598 TOTALCURRENT ASSETS 210.227 182,024 Creditors - amounts falling due in one year 189,6241 150,8281 NET CURRENT ASSETS 120,603 131,196 Creditor5. amounts falllng due In more than one year 80 14.9921 {4,9921 14.9921 14,9921 TOTAL NET AssErs 571.767 574,152 PARISH FUND5 Unrestricted 73,106 64,273 Restricted 482,909 494,127 Endowment io 15,752 15,752 571.767 574,152 The financial statements were approved and authorised for issue by the Parochial Church Council on 23rd March 2024 and signed on its behalf by :" Rev'd Dr leremyWorthen- PCC Chair Canon Shirley Leslie- Hon Treasurer 14
The Parochial Church Council of Ashford Town Cash Flow Statement as at 31 December 2024 2024 2023 Net cash from operating activities 13,983 110.4211 Cash f lows from investing activities FIT Payments received Dividends & Interest Proceeds from sale of: Tangible Fixed Assets Tangible Fixed Investments Purchase of: Tangible Fixed Assets for the use of the PCC Fixed Investments 635 16,960 662 14,006 600 Net cash provided by I (used inl investing activities 18,195 14,668 Change in cash and cash equivalents in the reporting period Cash and Cash equivalents at l January 32,178 4,246 147,538 143.292 Cash and Cash equivalents at 31 December 179.716 147,538 Analysis of cash and cash equivalents: Cash at bank and in hand Short-Term Deposits 65,660 114,058 92,598 54,941 Cash and Cash equivalents at 31 December 179,718 147,539 Reconciliation of net cashfrom operating octivities.. Ivet Income before investment goins 31 December Adju5tmentsfor.' Dividend5 & Interest Decrease / (increase) in Debtors (Decrease) /lncreose in Creditors Net cash provided by/ (used inj operating activities (11,828) 28,027 (16,960J 3.976 38,796 13.983 (14,006) (9, 663) (14,779) {10,421J 15
The Parochial Church Council of Ashford Town Notes to the Financial Statements 31 December 2024 Note 1 Accounting Poli¢ies- The PCC is a public benefit enlrty within the Meaning of FRS 102. The financial ststements have been prepar under the Charittes Act 2011 and in accordance with the Church Accounb"ng Regulations 2006 governir@ the indNidual actt)unts ol PCCS. and with the Regulab"ons true and fair view. provisions. The financial statements have been prepared in accoréance with the Charities SORP IFRS102}'Atcounting and Reporting by Charities.. Slalemenl ol Reeommenéed Praetice awicable lo charib'es prepar¥YJ thr accounts in aC0)rdan with the Financial Repoiting Standard applicable in the UK ano Republic ol Ireland IFRS 102} leffecbve 1 January 20191, and FInCial Reportsng Standard 102 The Finanaai Report'ro Standard applicable in Ihe UK and Republic of Ireland,. Parish Shafe is a voluntary conlrubulion to the DISe lo covercentral costs of Mission aThJ Ministy.11 is the pdicyol Ihss Parish to recognise their responsibility for this contribution and to pay in fvn Within the year to which il relates. However. where extemal factors beyond the control ol the PCC prevent this, the maximum possible payTrenl vnll be made and any shor11all by way ofnote to ts acrunts. Assets Con$•cratod and b•n•fi¢• proporty Insolar as consecrated and ben8fic8 prop8rty ol any knnd is exdLYbJ frcffi the statulw d8finrfK)n ol thariv by Section 1012llal and Icl ofthe Chaitbes kl 2011, such assets ar8 not capitalksed in the ffinanual ststernents. Moveable church lurnlshing$ These are capilali5ed al cost and depreciated over their usefiJl lrfe olher than where insuffiaenl cost informab'on is availatAe orwhere the $1$ have been fijlly rnel from speciflc grants or donati¢)ns. In ail cases, items are induded in the relevant Church's invenlories. Tanglble Flxed Assets for use by chadty These are capitalised il they ¢an be v$ed for rnore than on6 year eosl al 851 £1,01]O unsS the costs have been fulty mel from specffic gran15 or donats'ons. They are valued al cost and depreaalion is calculated lo write off Iheir 1rrenty anb"c4patsd ls1 over thew esbmaled useful lire as follows,. Land- Nil.. Fixtures & Fith'ngs- 20 years.. Computers. 3 years.. Other electr¢)nic equipment - 5 years. No depreciab'on is provided on buildings as Ihè currendy eslirnaleé festhal value oltre prOrb.es kl not less than their carrwNJ value and the remaining usefijl life ol thes8 assets exceeds 50 years, so the depTeck4b"rm would be immaterial. Invgslments Investments are valued 81 their markelvalue al 31 Deeember. Gains and losses on Ihe revaluation and disposals of investments are induded in the Statement of FinarKial AGts'vits'es. Short Tèrni Deposlts These are the cash held on dewsit eitherwth CCLA Church of En9land Dep)wl Fund or al Ihe bank. Funds Unrestricted Funds These represent the remaining incorne funds ol the PCC thal are available Ix spending on the general puwes ol the PCC, induéing amounts designated by the PCC lor fixed assets for its i)wn use or lof sping on a fuknre project and whith are therefo i1Jed in its Yree reserves,. The PCC aims lo maintsin a balanco on free reservos amounting to al least 12.5% of unreskn.cted payments. Restricted Funds These are income funds that musl be spenlon restricted purposes and delails ol Ihe funds he and Testn"th"ons provided a shown in notes to the a¢counts al no1&8 9 and 14.11 is our policy lo invest Ihe sfv)rt lenn inveslmenl frjnds wilh CCLA Church of England Deposit Fund and Ihe remainder in the CCLA Church ol England Investment Fund Endowment Funds These are reslricted funds Ih81 musl be retained as trust Cats7 either penrwntyty subject lo a diwelionary power lo spend the capital as income, and where the use ol any income or other benefft denved from Ihg 181 is re51ricted. Full details of Ihe funds helj and their restrictions are shown in note5 10 and 14, The ftjnds are administered by Canterbury DKwan Board of Finan as CustcNJial Trustee and invested in the CCLA Church of England Invesbnent Fund. 16
The Parochial Church Council of Ashford Town Notes to the Financial Statements for the period ended 31 December 2024 Unrestricted Restricted Endowment Funds Funds Funds TOTAL FUNDS 2024 TOTAL FUNDS 2023 2 INCOMING RESOURCES 2a Voluntary Income Planned Giving .' Gift Aid Tax recoverable 152,764 152.764 153.376 39.566 39.566 41,066 Other Planned Giving Collections: Open Plate Tax recoverable 19,879 19,879 18,081 35,182 35.182 27.221 10,494 10.494 8,049 Donations 18,339 147.615 165,954 54,930 Legacies Special Appeals & Collections 1.638 1,638 2,400 1.491 1,491 2,273 277,715 149,253 426,968 307,396 2b Actlvltles for Generatlng Funds Events 22.393 5.927 28,320 30,150 Magazine Adverts 874 874 790 23,267 5,927 29,194 30,940 2c Investment Incom• Dividends & Interest 5,148 10,939 873 16,960 14.005 5,148 10,939 873 16,960 14,005 2d Church Actlvltles Occasional Office fee5 20.651 20,651 20,481 Church Magazine Sales 583 583 886 Lettings Community Café Link Lunch 67.726 67,726 60,079 17,838 17,838 16,292 3.193 3,193 1,763 Other 30 110.021 110.021 99.501 2e Other Intomlng Rèsources Grants 38.598 84.066 122.664 96.481 Heating Surcharge Insurance Claims 17.176 64.390 64,390 9,497 HMRC Allowance 1.872 1,872 1,741 Other 1.508 972 2.480 1.835 41,978 149.428 191.406 126.728 Total Incoming Resources 458.129 315,547 873 774,549 578,570 17
The Parochial Church Council of Ashford Town Notes to the Financial Statements for the period ended 31 December 2024 Unrestricted Restrlcted Endowmtnt Funds Funds Funds TOTAL FUNDS TOTAL FUNDS 2024 2023 RESOURCES EXPENDED 3 3a Church Actlvltles Charltable Glvlng Charities Supported from Special collections 2.914 1.988 4,902 7,516 Total Charitable GiwnB MIs51on & Mlnlstry Mlsslon & Evan6ellsm CAP l Fresh Stsrt 2.914 1,988 4,902 7,516 1,200 Ignite Children & Young People Mission & Outrea¢h 866 866 2,584 724 8,866 9.590 2,786 3,389 4,979 7,578 10,967 2.393 Total Mission & Evan8eli5m Mlnlstry Parish Share 16,444 21,423 8,963 219,037 219,037 2(M),384 Local Mlnlstry Salaries & Honorarla 51,538 51,538 48.484 Clergy & Staff expenses Parish Office Costs 10.463 10.463 8,914 3.129 3,129 3,445 Total Ministry Cost Church Runnln8 Costs Centralised Costs 284.167 284,167 261.227 27,095 20.097 2.002 29.097 23,096 Insurance 20,097 23,327 Mainlenance & Cleanin8 Energy & Water Churchyard upkeep Other Runnin6 Cost5 22.407 143.184 165.591 59,987 37.333 37.333 50,600 6,115 6,115 6.348 965 113,047 145,186 258.233 164,324 Cost of Trading Hall Running Costs Café RunniTh8 Costs 41,374 41.374 35,989 7.657 7,657 5.804 49.031 49.031 41,792 Major Capltal Expenditure Capital projects Hall Major projecis Project Professional Fee5 & Other Costs 152.293 152.293 58,059 2.010 2,010 10.416 582 10,998 4,170 164,719 $82 165.301 62,229 Total Church Activities 454.138 328.337 582 783.057 546.051 3b Cost of Raislng Funds Events 3.320 3,3ZO 4,491 Totzl Cost of Raising Funds 3.320 3.320 4,491 18
The Parochial Church Council of Ashford Town Notes to the Financial Statements for the period ended 31 December 2024 Note 4a FIXLD LSSETS 2024 2023 13 x pane purchased at a totsl costof FIT payments to 31 Decernber2023 Net Book Value at 1st January 2024 Less FIT payments received in the pertod NET BOOK VALUE at 31 Oecember 2024 8.329 4.765 3.564 635 8.329 4,103 4,226 662 Z.929 3,564 Shares hÈtd Value 3111112023 3111212023 17.138 387.406 15.372 41,607 444.385 Unlls Sold Unlts OU8ht Reallsed I Co Share Prlce 3111212024 23.1227 Value at Ufireallsed Gain ILossl 8.867 345 4b LIVEMN[S 3V1212024 396,273 15,117 41.838 453,228 CCLA Investment Fund.. Restrlcted CCLA Endewment Fund.. Annie Marwick 27 23.1227 CCL4 Propety Fund TOTAL INVESTMENTS 33.962 1.2319 231 9,443 In July 2020, Oak Shakes were purthased from Tenterden Roofing Company ai a nei cost of £223> In readlness for the repairs to Wi11e5borou8h Church Spire. The work hasyet lo becarried out and the Shakes are ttored at the premises ofTenieréen Roofing Company. A vestinz agreernent provin8 owner$hip is held by ihe Church Warden responsible t rn3tters relatin8 lo the local Wille5borough Church community. For prudence, the PCC has not recognised the asset on ihe balance She gfven the uncertain tlmin8 of rf(s use and ¢urrent value. The purchèse was made from Willesborou8h Reslrictel Proied fufids. DÉBTORS & PREPAYMENTS Oebtols 2024 2023 Repaymeni Claims fjlft Ajd l GASDS.. November. Offefftber Pl8htand Trust LPWG Clèirns 5.293 5,150 4,886 1.585 8.084 13,177 32,882 Insurance Clalrns Outstandin8 Hall Rents Other Outstandin8 Invoi¢es TOTAL DEBTORS 5,995 7,696 18,984 Prepayments Accwed Income 10,693 452 516 CCiA INVESTMENT INCOMÉ NOVÉM8ER- OECEM8ER 284 OTHER OUTSTANDING INCOME 803 TOTAL PREPAYMENTS 11,525 1,603 TOTAL DEBTORS & PREPAYMEKrs 30,509 14,485 DEPOS5 2023 CCL4 Endowment Funds 379 379 CCLA Restricted lurnds Barcliys TOTAL OÉPOSITS 39,863 73.816 114.058 27,534 27,028 54,941 CASH AT BANK AND IN HAND 2024 2023 CASH A5hford St Mary Kennin8ton Gt Chart 11031 743 57 King5north Wi1lesborou8h Flower Account Willesborough nk LurKh A¢¢ount Cash in Hand.. unbanked coSn 234 453 819 Willesberough Social Events local Chur¢hÈs ClÈarin8 aceount.. Kin8snorth Lite Bite 18nite Cash Account TOTAL CASH Includes Café fl03t 490 736 17 59 2.238 157Z BANK 8ARCiAYS 63,422 91,026 TOTAL CASH & BANK 65.660 92.598 19
The Parochial Church Council of Ashford Town Notes to the Financial Statements for the period ended 31 December 2024 Note 2024 2023 8a CREDITORS Accruals general Outstanding Involees Accrued 100 Club Prizes 65.384 17,973 310 175 Accrued invoices 4,010 2.160 10,344 2,160 Independent Examination 6,480 12,679 Accruals HMRC I Penslon Fund HMRC 308 183 Pension Fund 144 452 151 334 Accruals Designated {Deferred Income) 2020 - 2024 Wedding deposits Cemetery upkeep (Kenningtonl Deferred Income- Hall Hire Rents & Deposits Deferred Income- Funerals in Jan 202S 7,075 5.120 160 4,Ot)O 7,615 2,048 2,173 Other deferred income 15,456 4.016 16,751 Barclaycard 932 2.171 Accruals Restrlrted Deferred Lunch Club Grant IAshford St Maryl Deferred Ball Lane Grant IKennin8ton} 500 sCj 420 420 920 920 Creditors falling due in one year 89,624 50,828 Custodlal Funds Kennin8ton Fayre Postponed Afrlca Trip 2,200 2,21JO Bell Ringers Fund IKin8snorthl 2,792 2,792 4,992 4,992 TOTAL CREDITORS 94,616 55.820 8b Unrecognised Creditor- Parlsh Share Due to the ongoing effect on income streams of the fall in attendance resulting from the Coronavirus pandemic, it has not been possible to achieve full payment of the amount requested by the Diocesan Board of Finance in respect of Parish Share. Taking into account the minimum level of cash holdings deemed necessary, 74.5% was paid leaving £75,000 unpaid at 31st December 2024 plus £247,332 from the previous 4 years. As this is a voluntary contribution, the debt is not accrued in the annual accounts. Unrecognised Creditor- Diocesan Board of Finance Due to historic cash accounting, two loans from Diocesan Board of Finance totalling £128,000 were not recognised in the 2016 Willesborough Balance Sheet. £25,000 was repaid during 2017 and £70.197 remitted by the Diocese in 2018. £32,803 remains outstanding at 31st December 2024. 8¢ 20
The Parochial Church Council of Ashford Town Notes to the Financial Statements for the period ended 31 December 2024 Note 9 MOVEMENTON RESTRicfEDFUNDS Local Church Balance Blfwd Income & Expenses & unrealised unrealised gains losses Transfer Balance Clfwd Between Funds Trust Funds Pat Holley LègacylFabrlc Fund Christchurch 8ur£ess / Pope- Fabric fund khool Fund Deposit a/¢ Myrtle Legacy 115,946 5.881 9,570 112,257 Kennington 37,077 77.210 78.890 35.397 Kennington 16,924 758 17.682 King5north 90,125 53.977 37,488 Mercy Apps 'n8snorth Ashlord St Mary 3.098 3,166 Joy Le8acv 17,669 974 18,643 Butcher Legacy A5hford St Mary 15.243 45,940 45.104 16,079 lill Wright Lègacy Ashford St Mary 7,980 8,420 Monument5 Ashford St Mary . 6,471 331 6,802 E Paln- Fabric Fund Ashford St Mary 4,502 237 4.739 D W Knott. Organ / Cho51 Totsl Trust Funds Ashford St Mary 7.363 233 7,596 322.398 133,413 20S.224 250.587 Restrlcted Prolert Funds Imago Outreach Fund Sln8léton SS4 1,296 1,259 591 Youth & Famllles Worker Singleton 47 2,501 Away Day Singleton 1,140 1.140 Children & Young People Sin8leion Ashlord St Mary 1.5 634 866 Choir / Handbells Fund 2,333 71 2.404 Fabric Nave Altar I Choir 5ts115 Ashford St Mary 24.035 1,322 25.357 Cameroon Project Ashford St Mary 1,773 1,773 Communications Project Ashford 5t Mary 295 295 St Mary's Players Ashlord St Mary 835 835 Or8an Fund Ashford St Mary 18.683 3.097 3,878 17,902 Ashford St Mary 7,527 17,5271 Maintenance Fund Kin85nOrth 232 232 Kingsnorth Community Fund Kin8snorth Kingsnorth Gt Chart 1.176 427 499 1.104 Music Fund 5.060 120 180 Fabric & Project Funds 16.145 147.165 86.613 76.697 Other Funds Gt Chart 1.682 830 2.512 Fabric Funds IBuildingl St Franci5 226 3.125 3.351 Make Lunch projecl St Francis 14.208 11.727 8.895 17.040 Chi5dren's Mission St Francis St Francis Hub St Francis 15,0521 5.133 4.679 14,5981 59,092 Captial Project Funds Willesborough 59,435 6.025 6,368 Capital Project Funds Sevington 21.924 3.866 25.790 Youth Work pcc 782 732 Acts 435 IWALK CHURCH Total Restricted Projert Funds pcc 5.820 5.870 Iso) 232,271 171.n9 195,444 127.375 17.5271 TOTAL RESTRIUED FUNDS 494.127 328,857 332.599 482.858 21
The Parochial Church Council of Ashford Town+AAI:H50 Notes to the Financial Statements for the period ended 31 December 2024 Note 10 MOVEMENT ON ENDOWMENT FUNDS L(31 Churth Baian¢e blfwd Income & Expenses & nrealised unre¥li5eil Kalns losses TrarbSfeT Between Funds Balance Clhvd Annie Marwlck Deposit Alc Annie Marv4ick Investments TOTAL ENDOWMENTFUNDS Shadoxhurst Shadoxhurst 379 IS.373 15.752 379 15.373 15,752 1,218 1,218 15821 1582 16361 1636 8alance blfwd Balance clfwd 11 Movernent on Funds held as Curtodlal Trurtee Income South Africa Trip Bell Ringers Fund Kin5Bnorth Total Cusitsdial Fund5 2.2C4) 2.792 4,992 2.200 2,792 4,992 12 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestrkied Funds Res(trd Endowment Fufids Total 2024 Total 2023 Fixed Assets Investments Oebtors Deposits Cash & 8ank 2,929 2,929 453,227 30,S09 114,058 65.660 193.6841 19321 571,767 3,564 444,384 34,485 54,941 92,S98 153,6491 12.1711 574,152 438.110 9,723 83.764 141 148,4341 13951 482,909 15,117 20.781 29.915 65.267 145,2501 15371 73,106 379 252 Barclaycèrd TOTAL NET ASSETS 15,752 13 TRUSTEE REMUNERATION AND STAFF COSTS No Trustee was puid an amount in exce of £60,000 Mrs L Vurley was employed cs Gfull time Porish Administrotor Mrs Vorley wos enrolled in ihe Church Loy Worker5 Pension Fundon 1st November 2017 Mrs J Stamp wos enrolled in the Church Workers Penslon Fund bockdt7ted to November 2021 The PCC contribuies 5% ofsolory to the Pension Fund plus 0.5%for Life Insuronce cover Employees contribute 3% ofsolary to the Pension Fund Mr5 Stamp left the Pension Fundon termination of her employment on 31st Augurt 2024 Five orgtinists were Pi71d honororff(rfor regulor uttendonce and two orgonists eoch receivedpoyment as locum Employee Benefits None 22
The Parochial Church Council of Ashford Town Notes to the Financial Statements for the period ended 31 December 2024 Note 14 PURPOSE FOR RESTRICTED AND ENDOWMÉNT FUNDS Trust Funds Pat Holley LegacylFabric Fund Christchurch Purchase of Minibus or Maintenance of the fabric of the church and hall Burgess / Pope - Fabric fund Kennington Maintenance of the fabric of Kennington church and halls School Fund Deposit alc Kennington Fund5 Utilised for upgarde to AV system.. now closed Myrtle Legacv Kin8snorth Maintenance of the fabric and church life- part utilised in 2024 to upgrade A Mercy Apps Fund Shadoxhurst Fabric and Churchyard maintenance Joy Legacy Ashford St Mary Capital & interest restritted for the upkeep of the church earmarked for restoration of tombs 8utcher Legacy Jill Wright Legacy Monuments Ashford St Mary Maintenance of the fabric of the church Ashford St Mary 50% of interest for the Sunday School and 50% re-invested Ashford St Mary Maintenance of the Smyth Tombs Ashford St Mary Upkeep of or8an £50 & Asst organist £50 balance to choir fund Ashford St Mary Maintenance of the fabric of the church D W Knott- Organ /Cholr H E Pain- Fabric Fund Restricted Project Funds Imago Outreach Fund Youth & Families Worker Singleton CC Grant funding for tommunity outreach Singleton CC Long term projert to fund additioonal human resource Singleton CC Deposits and payments towards an event in 2026 Singleton CC Income an¢J expenditure strictly relating to this community sector Ashford St Mary Purchase of choir and music related costs Ashford St Mary Maintenance of the fabric of the church hford St Mary Funds are raised in support of humanitarian projects A5hford St Mary Based on a specific donation for the improvement of communication Ashford St Mary A donation has been received to fund future drama production5 Ashford St Mary Major refurbishment of the church organ Kingsnorth A Fund to offer grants to people in the Kingsnorth area who are strugglinE to pay their energy bills (Renamed) Fund to help towards cost of music provision Mèjor projert to upgrade the main church path and other fabri¢ repairs Minor restricted reserves relating to Choir Fund and Bell fund Funding for the refurbushment of the Hall kitchen & other fabric matters Provision of meals and other goods for families which qualify for free school meals Away Day Chlldren & Young People Choir l Handbells Fund Fabric/Friends/Kneelers Cameroon Project Communications Fund St Mary's Players Organ fund Community Fund Music Fund Fabric & Project Funds Other Funds Fabric Funds Make Lunch Funds Kingsnorth Gt Chart Gt Chart St Francis St Francis Children's Mission St Francis Little Squeakers - Parent & Toddler Group (currently suspended) Hub set up funds- awaiting grant Funds being raised for major repairs to the fabric of the building Major refurbishment of the church building Ilncludes Lady Sharp Trust) Donations to support youth work atross the parish Donations to support specific needs identified via the Arts 436 network St Francis Hub St Francis Willesborough Sevin8ton pcc pcc Capital project Capital Project Youth Work Acts 435 Endowment Funds Annie Marwick Fund Kingsnorth Fabric and Churchyard maintenance Funds held as Custodial Trustee South Afrita Trip Bell Ringers Fund Funds raised for a youth project- aborted due to Coronavirus. Small balance Funds transferred to PCC bank ateount on resignation of Tower Captain. 23
The Parochial Church Council of Ashford Town Church Workers Pension Fund {CWPF) FRS102 Disclosure - 31st December 2024 ASHFORD TOWN PCC participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board. which holds the CWPF assets separately from those of the Employer and other participating employers. CWPF has two sections: the Defined Benefits Scheme the Pension Builder Scheme, which has two subsections: a deferred annuity section known as Pension Builder Classic, and, a cash balance section known as Pension Builder 2014. Penslon Builder Scheme Both sections of the Pension Builder Scheme are classed as defined benefit schemes. Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. Pension Builder2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SOFA in the year are the contributions payable (2024: £4,375, 2023: £1,683). A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022. For the Pension Builder Classic section, the valuation revealed a surplusof £34.8m on the ongoing assumptions used. At the most recent annual review effective l January 2025. the Board 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 pensions in payment in respect of post 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 position over 2024. There is no requirement for deficit payments at the current time. For the Pension Builder 2014 section, the 2022 valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. The next valuation is due as at 31 December 2025. The legal structure of the scheme is such that if anotheremployer fails, ASHFORD TOWN PCC could become responsible for paying a share of the failed employerfs pension liabilities. 24
11111 11111 11111 1111 11111 11111 11111 11111 1111 11111 111111 1111111 1111111 1111111 1111111 1111111 1111111 1111111 1111111 1111111 1111111 1111111111 1111 1111 1111 1111 1111 1111 1111 1111 1111 1111 1111 11111111 1111111 1111111 11111111 11111111 11111111 11111111 1111111 11111111 111111 111111 111111 111111 111111 111111 111111 111111 111111 1111 111 1111 1111 1111 1111 1111 11111111 11111 1111111 1111
Independent Examinerfs Report to the Trustees of Ashford Town Parochial Church Council I report on the accounts for the year ended 31 December 2024, which are set out on pages 13 to 23. Respectlve responsibilities of the PCC and the examiner The Charity's trustees consider that an audit is not Tequired for this year under Section 144{2} of the Charities Act 2011 (the 2011 Act) and that an Independent Examination is needed. It is my responsibility to examine the accounts under Section 145 of the 2011 Act follow the procedures laid down in the General Directions given by the Charity Commissioners in Section 14515){b) of the Act," and state whether particular matters have come to my attention Basis of Independent Examinerfs Statement My examination was carried out in accordance with the General Directions 8iven by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit and consequently I do not express an audit opinion on the accounts. Independent Examiner's Statement In connection with my examination, no matters have come to my attention: which give me reasonable cause to believe that in any material respect the requirement5 to keep accounting records in accordance with S130 of the 2011 Act: and to prepare accounts which accord with these accounting records have not been met; or To which, in my opinion, attention should be drawn in order to reach a proper understanding of the accounts to be reached. Stuart Whorlow FCA Cassidys Chartered Accountants, Date 2025 12