# **St Mary Magdalene Belmont**
## **End of Year Financial Statements**
## **Year ending 2024**
_Page 1_
## **Receipts and payments**
|**General - General fund (Unrestricted)**
**Receipts**
01 - Tax-efficient (gift-aid) planned giving
02 - Other planned giving (not gift-aided)
03 - Collections at services
05 - Non-recurring giving. donations, appeals
06 - Tax recovered via gift aid
_Total Voluntary income_
_Activities for generating funds_
09 - gross income from fund raising
_Total Activities for generating funds_
_Investment income_
10 - Dividends, interest, property income
_Total Investment income_
_Church Activities_
11 - Statutory PCC fees
12 - Income from trading (magazine, hall)
_Total Church Activities_
_Other incoming resources_
_s_
08 - Income from Trusts or grants (Designated)
)
_Total Other incoming resources_
**Total Receipts**
**Payments**
17 - Costs of generating funds
_Total Cost of generating funds_
18 - Mission giving/Donations to charity
_Total Charitable activities_
Church Activities
19 - Parish share
20 - Salaries, wages, honoraria
21 - Expenses
22 - Mission and evangelism projects
23 - Church running expenses (inc governance)
24 - Church utility bills
25 - Costs of trading (magazine, hall)
_Total Church Activities_
Major capital expenditure
27 - Major repairs to church
_Total Major capital expenditure_
_Page 2_|**Total funds 2024 Prior year**
**Funds 2023**
£26,235.05
£29,759.50
£4,726.03
£4,644.41
£3,980.43
£3,854.75
£1,570.38
£1,586.61
£10,538.39
£11,791.67|
|---|---|
||_£47,050.28_
_£51,636.94_
£260.00
£107.00|
||_£260.00_
_£107.00_
—
£20.54|
||_—_
_£20.54_
£1,792.00
£3,235.00
£3,112.56
£2,303.30|
||_£4,904.56_
£3,455.64
£4,513.64
_£5,538.30_
£28,674.46|
||_£7,969.28_
_£28,674,46_|
||**£60,184.12**
**£85,977.24**
—
£375.02|
||_—_
_£375.02_
£4,246.50
£5,409.70|
||_£4,246.50_
_£5,409.70_
£33,000.00
£57,000.00
£7,321.69
£12,012.18
£181.69
£32.58
—
£2,197.49
£9,153.20
£9,953.94
£8,549.62
£12,487.66
£3,203.01
£3,452.80|
||_£65,655.71_
_£97,136.65_
—
£678.00|
||_—_
_£678.00_|
|Other resources used
REST - Restricted Funds
_Total Other resources used_
**Total Payments**
Excess of Incoming resources over Resources used
Brought forward balance
**Carried forward balance**
**BBRT – Building Fund (Designated)**
**Receipts**
04 - Legacy
10 - Dividends, interest, property income
_Total Investment income_
Excess of Incoming resources over Resources used
Brought forward balance
**Carried forward balance**
**Statement of assets and liabilities**
**Description**
**Current assets**
GEN
BBRT
General account
Building fund (inc reserves)
Education Trust owing
**Total Current assets**
**Liabilities**
Gilligate Trust
Charitable giving
Building fund
Agencies
**Total Liabilities**
**Net Asset surplus(deficit)**||£198.24
£6,898.38
_£198.24_
_£6,898.38_
**£65,853.95**
**£110,497.75**
(£5,669.83)
(£24,520.51)
£7,973.06
£32,493.57
**£2,303.23**
**£7,973.06**
76,260.94
427.13
165.13|£198.24
£6,898.38
_£198.24_
_£6,898.38_
**£65,853.95**
**£110,497.75**
(£5,669.83)
(£24,520.51)
£7,973.06
£32,493.57
**£2,303.23**
**£7,973.06**
76,260.94
427.13
165.13|
|---|---|---|---|
|||||
|||||
|||||
||||_76,688.07_
_165.13_|
||||76,688.07
165.13
16,501.56
16,336.43|
||||**93,189.63**
**16,501.56**
**This year Last year**
£3,653.91
£110,120.69
£4,513.64
£7,973.06
£16,501.56|
||||**£118,288.24**
**£24,474.62**
(£17,278.36)
(£4,000.00)
(£93,189.63)
(£1,517.02)
(657.29)|
||||**(£115,985.01)**
**(£657.29)**|
||||**£2,303.23**
**£23,817.33**|
## **Notes to the accounts**
The PCC are saving for a building project to be Carbon Neutral by 2030 (approved by General Synod in 2022) involving funding a new heating system and roof. This will cost approx. £250,000. The designated building fund is the savings so far towards this (thanks to Dave & Anne Drinkwater’s large legacy into this fund). All excess goes into this account therefore the general fund is run to balance income and expenditure with a small surplus. The liabilities involve a repayment to Gilligate Trust as PCC decided in May 2024 to try and run the church without having to resort to claiming from this fund and therefore enabling us to make a larger claim (and possibly ask for an interest free loan) in a few years and put it towards the building project. The PCC agreed the parish pledge as £20,000 for 2025. The General fund also holds funds for Café Church (£1217.02) and the choir (£300) which are independent to PCC funds.
_Page 3_
**INDEPENDENT EXAMINER’S REPORT TO THE PCC OF BELMONT ST MARY MAGDALENE CHURCH, DURHAM**
I report on the accounts of the PCC for the year ended 31 December 2024 which are as set out on the attached pages.
## **Respective Responsibilities of PCC Members and Examiner**
The PCC members are responsible for the preparation of the accounts. The members 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
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act and CBF guidance; and
- to state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Report**
My examination was carried out in accordance with the general Directions given by the Charity Commission and given guidance from the CBF. An examination includes a review of the accounting records kept by the PCC 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 you as members concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s Statement**
In connection with my examination, no matter has come to my attention:
- 1) Which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act;
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
7 Elvet Waterside Durham DH1 3DA 18 March 2025
_Page 4_