Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Stmarys WEST HORSLEY Parish of St Mary's West Horsley Trustee Annual Report & Financial Statements Year ended 31 December 2025 Page 1 of 25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Contents Page PCC Trustees Report 3-10 Audltors Report 11-14 FlnanclalActivities forthe year ended 31 Decomber 2025 15 Balance Sheet 16 Notes to the Financlal Statements forthe year ended 31 D8cember2025 17-25 Page 2 of 25
Parish of St Mary's West HorsLey Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 (Prepared in accordance with the Charities SORP2025 (FRS 102) Ti8r 2-Accruals Basis, and th8 CharitiesAct2011) 1. Reference and Administrative Details Charlty Name: West Horsley Parochial Church Council Registered Charity Number: 1179116 Church Office: The Wheelhouse 82 East Lane, West Horsley. Surrey KT24 6LQ Date appointed or reappointed Incumbent & PCC Chair Rev'd Philip Herrington March 2016 Curate Rev'd Rachel Clark July2024 Licensed Lay Minister Mary McALlister Wardens Caroline Titford- warden since October 2020 Vicky Rutherford- warden since April 2024 Elected PCC Members l Trustees (serving during 2025) Maggie Simmonds (Vice Chair & Deanery Synod Representative) Richard Boyd (Deanery Synod Representative) Barbara Firth Michael Gercke (Treasurer since April 20201 Ellen Harris Carolyn Palmer (Deanery Synod Representative) Mark Pinks Chris Puddle Kellie Smitheman Fiona Trinder April 2023 April 2024 April 2025 April 2023 May 2025 April 2023 April 2023 April 2024 April 2025 April 2024 April 2025 April 2023 Simon Williams Oliver Windridge Safeguarding Off icer Hazel Black January 2023 Page 3 of25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 PCC Secretary Lynda Ridge Bankers: Lloyds Bank plc Auditors: CMB Partnership Limited 2. Structure, Governance and Management St Mary's PCC operates underthe Parochial Church Counclls {Powers) Measure 1956 and the Church Representatlon Rules. Members are elected forthree-yearterms bythose on the Church Electoral Roll. The PCC meets bi-monthly. In addition to these six regular meetings, the PCC had a special meetingthis yearto considergranting a bridging loan to SamcotTrustto enable the purchase of a house to be occupied by the Youth workeronce recruited in 2026. 2.1 Subcommittees & Teams Standing Committee- comprising Rector, Curate. Church Wardens. Vice Chair of PCC, Treasurer and an elected member of the PCC meets bi- monthly and has power to transact any business of the PCC between its meetings, subject to anydirection given bythe PCC. Fabrlc Committee- care ofthe Church building & church yard including quinquennial works and ofthe church h8118t the Wheelhouse. and the Rectory. Mlssion Commlttee- workswith our Mission Partners and allocates funds given to it by the PCC and promotes the work ofthe Mission Partners to the congregations. Chlldr8n & Youth Team- leading ofthe Children &Youth groups. Pastoral Caro Tegm- home visits, bereavement support. Bulldlng ProJ6ct Team - set up in 2021 to develop plans for the new Church Centre and Church reordering. Eco team- seek to promote greater awareness of eco matters and how the church can contribute to environmental sustainability. Bereavam8nt t8am- supports those grieving and runs the Bereavementjourney course. The Rector and Wardens also meetweeklyto ensur8 the smooth running ofthe church. 2.2 Risk Management Key risks assessed in 2025 included: Safeguardlng-the Safeguarding Officer and DBS assistant have been vigilant in ensuringthat Safeguarding remains a high priorityand thattraining and DBS checks are promptlycarried out. Page 4of 25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Once a year on Safeguarding Sunday both morning sewices are devoted to a relevant aspect of Safeguarding. Safeguarding is a standing item for PCC meetings. Flnanee- monthly management accounts are reported to both the PCC and the Standing Committee and monitored against the agreed budget. Almost all income is from Parishioners with a substantial proportion given by relatively few individuals. To compensate for this the church holds a generous level of Free ReseNes. Bulldlng health & safety- regular inspections and maintenance programmes continue to be in place. A def ibrillator training course was held. 3. Objectives and Activities The PCC'S charitable purpose is to promote th8 whole mlsslon of the Church: pastoral, evangelistic, social, and ecumenical. 3.1 Public Benefit The PCC confirms that it has considered Charity Commission guidance on public benefit and ensures that worship, community activities. and pastoral support are open and accessible to all, 3.2 Core Activities Weeklyworship Itraditional, contemporary all-age services). Mid-week Communion. Weddings, funerals, baptisms. Children & Youth ministry (Sunday groups across age ranges, Reclaim Youth group on Sunday evening). Home Groups. Men's Fellowship Group. Women's Fellowship Group- Heart & Soul. Bereavement course. Alpha course. Community outreach (Noah's Ark Baby & Toddler group. Friday Community Café, Monthly Lunch Clubl. Pastoral support {Visitingteam, prayer ministry). Maintaining an historic Grade I listed building. Page 5 of 25
Parish of St Mary'swest HorsleyTrustee Annual Report and Financial Statements forthe Year ended 31 December 2025 4. Achievements and Performance (2025) 4.1 Worship & Discipleship Average Sundayattendance: 110 adults of which 45 attended the 9 am traditional service and 65 the contemporary 10.45 family seNice. The latter has seen new families joining us this year. Attendance at Christmas, E85ter, and Remembrance exceeds 200 adults. Sermons up108ded to YouTube. The key sermon themes in 2025 were a study ofst Paul's Letterto the Ephesians in the Spring, a summerterm spent looking at'who is Jesus and the Kingdom Parables he told" and the" Spiritual Disciplines" during the autumn term. In September a church weekend was held at High Leigh conference Centre to which approximately 120 adults and children & young people attended. The theme ofthe weekend was 'EncounteringJesus" In addition to the formalworship & teaching sessions. therewere workshops and social activities, However. a key part of these weekends is the opportunityto get to know each other better. 4.2 Community Events & Outreach Noah's Ark Baby & Toddler Group meets weekly in Term time and averages 25 children plus their parents/carer8. The main constraint to further growth ofthis ministry is18ck of space in the Wheelhouse. The Friday Café in the Wheelhouse averages 25 a week. Both No8h'8 Ark 8nd the Frid8y Café attract a significant number of non-church goers. A Bereavement course was held in the Spring with18 attendees. Two Alpha courses were held forthe spiritually curious with 29 attendees across the two courses with autumn 2025's beingthe largest course for more than a decade. A professionally produced Parish Magazine is distributed twice a yearto the parish at Chrlstmas & Easter. A community BBQ on a new housing development inwest Horsley. 4.3 Children &Youth Ministry Sunday Children's groups attendance averaged 11 each week but is showing growth particularly amongst the older age group. Reclaim Youth Group averaged 12 each week Our Children's & Youth Minister left in December 2024. Whilst our children's and youth work has continued to flourish, the lack of a full-time leader prevented the church organising its usual Easter Trail and the popular Superheroes Halloween party. The PCC decided to recruit both a Youth Leader and a Children's & Familyworker and a Candidate forthe later has now been recruited. Efforts to recruit a Youth leader continue. Page 6 of 25
Parish of St Mary's West HorsLey Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 4.4 Men's & Women's Ministry These two groups held a number of events, some purely social and some with spiritual input usuaLly with an external speaker. 4.5 Weddings. Funerals and Baptisms 4Weddings and 7 Funerals. In addition. the clergy off iciated at 9 crematorium services, 6 interring of ashes and 2 burials. 4 infant baptisms and 4 adult baptisms 4.6 Fabric & Buildings including the Rectory Quinquennial inspection completed in Januarywith no major concerns. Normal ongoing regular inspections. Repairs to pavingon the 8pproach north path to the Church, extensive external stonemasonry repairs to the blocked lancetwindows, joints &voussolr ofvestrydoor and north porch door, quoins and internal cracks filled. Upgrade and refurbishment of the rectory kitchen. In July 2024 planning applications were submitted to Guildford Borough Council for the building of a Church Centre on land adjacent to the churchyard. and for outline residential consent for one 5 bed property on the current Wheelhouse site. In June 2025 at a meetingwith Guildford Borough Councilwe learnt of relatively limited changes raquired to our plans. The BuildingTeam have since amended the plans and resubmitted them and we await the Council's further consideration but remain optimistic of receiving planning consent. The Church Centre is of strategic importance as it would enable the Church familyto worship together on one site, thereby reuniting the two Sunday morning congregations. as well as providing a fantastic base to further seNe the community. In the meantime. fundraising has continued during 2025 includingseveralfundralsing events and initiatives. 4.7 Environmental Initiatives Having achieved the Bronze Eco church award in 2023. the team commenced workingforthe Silver award. Issued monthly Eco tips to th8 congregation. Held two Batwalks in the church grounds. Energysupplier reviewtookaccount of green energy supply. Eco surveys sentto allthe congregation to gauge the extent of their embracingof environmental opportunities. Page 7 of 25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 4.8 Other The PCC invited a Church Organisational Health Consultant, Andrew Bagwell, to spend a week with u8 to assess howwe operated and where we should focus our resources goingfoard. The PCC updated our Parish Needs Profile. 5. Financial Review 5.1 OveNiew Total Operating income for 2025 was £338.498, compared to £348,652 in 2024. Regular church income from the congregation (includinggift aid) was slightly down on 2024. In addition. Restricted Income for 2025 totaled £286.786 ofwhich the major componentwas fund8 raised for the building project. Operating costs{excluding refurbishment ofthe rectory kitchen) at£289,995 compared to £311,400 in 2024 principally due to Lower staff numbers. In addition to the Children's & Youth Minister, ourworship and Communications staff members also left in 2024 and have not been replaced. In addition, the refurbishment of the rectory kitchen (normally a diocesan expense) costed £18,568 net of a donation of £5.000. In summary the Accounts for the 12 months to 31 Dec8mber2025 show an operating surplus, after includingthe rectory kitchen expenditure, of £29,935 compared to £37,252 in 2024. 5.2 Reserves Policy The PCC aims to hold approxlmately4 months, operatlng costs as free reseNes1£100,0001. Fund balances atyear-end: Unrestricted Free ReseNe8: £172,665 Whilst Free ReseNes are considerably higherthan policy a small number of parish givers represent a substantial proportion of the income, such that if they leave income is likely to be significantly impacted and the Reserves WILL be needed to manage the reduction. Designated: £40,000 The PCC has set aside Designated Reserves forthe restoration and repairof the historic De Berner window in addition to monies held in Restrlcted funds, and forthe purchase and setting up of 8 new car parkto supplement the existing car park. Restricted.. £ 747,987 Full details of the various Restrlcted Funds is included in Note 1 to the Accounts. Page 8 of 25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Full details of the various Restricted Funds is included in Note 1 to the Accounts. 5.3 Principal Funding Sources Planned parish giving.. £322,867 Grants.. £500 for General funds, and £9,056towards repair & restoration ofthe De Berners window. The PCC thanks the following organisations forthese grants: West Horsley Parish Council. The BenefactTrust, Horsley Community Fund. Horsley & Bookham Rotary, Hor$leyArts Society, and Surreychurches Preservation Trust Fees: £6,008 Iweddings. funerals) Hire of the Wheelhouse: £971 Interest income: 24.606 5.4 Going Concern Statement The PCC confirms that it is appropriate forthe Accounts to be prepared on a going concern basis. The PCC is required to lookforward for a period of 12 months from the date the Accounts are signed. The budgetfor 2026was approved in January 2026 with an operating surplus of2 14,702. Combined with strong Reserves the PCC is satisfied the charity remains a going concern for the foreseeable future. 6. Plans for the Future {2026) Recruitment of a Youth leader and a part time Children's & Family worker Fundraising for the building project and proceeding with next stages once planning permission is received. Alpha courses will continue to be regularly held. The Bereavement course will be held in the Spring. Initiatives to further reach out to the community 7. Statement of Trustees, Responsibilities The trustees are responsible for preparingthe Annual Report and Financial Statements in accordance with applicable law and UK accounting standards. They must: Select suitable accounting policies. Makejudgements and estimates reasonably. Prepare accounts on a going-concern basis. Safeguard the charity's assets and ensure proper records. Page 9 ot 25
Parish of St Mary's West HorsleyTrustee Annual Report and Financial Statements for the Year ended 31 December 2025 ApprovaL of Trustees Report Signed on behalf ofthe PCC: Rev Phi erringto Rector and Chair ofT stees Date: 12 March 2026 Pag8 10 of25
Parish of St Mary'swest HorsleyTrustee Annual Report and Financial Statements forthe Year ended 31 December 2025 INDEPENDENT AUDITOR'S REPORTTOTHE MEMBERS OFTHE PCC OFTHE PARISH OF ST MARY'S WEST HORSLEY Opinion We have audited the financialstatements of The Parish of St Mary's West Horsl8y (the'church'l forthe yearended 31 December2025 which comprise the Statement of Financial Activities. Balance Sheet and notes to the financial statements. including a summary of signif ic8nt accounting policies. The financial reportingframeworkthat has been applied in their preparation is applicable law and United Kingdom Accountingstandards. including Financial Reporting standard 102 The Financial Reportingstandard applicable in the UK and Republic of Ireland (United Kingdom GenerallyAccepted Accounting Practice). In our opinion. the financial statements: give a true and fairview ofthe state ofthe church's affairs as at 31 December 2025 and of its incoming resources and application of resources forthe yearthen ended; have been properly prepared in accordance with United Kingdom GenerallyAccepted Accounting Practice. and have been prepared in accord8nce with the requirements of the Charities Act 2011 and Church Accounting Regulations 2006. Basis for opinion We conducted our audit in accordance with International St8ndards on Auditing {UKI (ISAS IUKI) and appliGable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the f inancial statements section of our report. We are independent of the church in accordance with the ethical requirements that are relevant to our audit of the f inancial statements in the UK, includingthe FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatingto going concern In auditing the financial statements. we have concluded thatthe PCC'S use ofthe going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the workwe have performed, we have not identified any material uncertainties relatingto events or conditions that individually or collectively, may cast signif icant doubt on the church's ability to continue as a goingconcern for a period of at leasttwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the PCC with respect to going concern are.described in the relevant sections of this report. Page11 of25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The PCC are responsible for the other information contained within the annual report. Our opinion on the financial statements does not ¢overthe other information and, except to the extent othernise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained duringthe audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whetherthis gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude thatthere is a material misstatement ofthis other information, we are required to report thatfact. We have nothingto report in this regard. Matters on which we are required to report byexception We have nothingto report in respectof the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: the information given in the PCC'S report is inconsistent in any material respect with the financial statements. or suff icient accounting records have not been kept. or the financial statements are not in agreement with the accounting records and returns. or we have not received allthe information and explanationswe require for our audit. Responsibilities of trustees As explained more fully in responsibilities statement set out on page 3 the PCC are responsible forthe preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the PCC determine is necessaryto enable the preparation of financial statementsthat are free from material misstatement, whether due to fraud orerror. In preparingthe financial statements, the members ofthe PCC are responsible for assessingthe charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and usingthe goingconcern basis ofaccounting unless the PCC either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder, Our objectives are to obtain reason8ble assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes ouropinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detecta material misstatement when it exists. Page12of25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Misstatements can arise from fraud or error and are considered material individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including f raud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures ar8 capable of detecting irregularities including fraud is detailed below: .Discussions with and enquiries of management and those charged with governance were held with a view to identityingthose18ws and regulations that could be expected to have a material impact on the financial st8tements. Duringthe engagemontteam briefing. the outcomes of these discussions and enquiries were shared with the team, as well as consideration as towhere and howfraud may occur In the entity. The following laws and regulations considered to have a direct effect on the financial statements include UKfinancial reporting standards, Charity Law and Pensions legislation. Those laws and regulations for which non-compliance may be fundamental to the continuing operations ofthe Church and therefore may have a material effect on the financial statements include health and safety legislation, employment law and GDPR. Audit proceduros undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of enquiries of management and those charged with governance as to whetherthe Church complies with such laws and regulations. enquiries with the same concerning any actual or potenti81 litigation or claims. inspection of any relevant legal correspondence. review of PCC board minutes. testingthe appropriateness of journal entries. and the performance of 8n8Lytical reviewto identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detectlng irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities. the effectiveness ofthe entity's controls, 8nd the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from errors. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAS IUKI. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: . This description forms part of our auditor's report Use of our report Page13of25
Parish of St Mary's West HorsleyTrustee Annual Report and Financial Statements forthe Year ended 31 December 2025 This report is made solelyto the members ofthe PCC, as a body, in accordance with Part 4 ofthe Charities (Accounts and Reports) Regulations 2008. Our auditwork has been undertaken so that we might state to the PCC those matters we are required to state to them in an auditor's report 8nd for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the church and the PCC as a body, for our audit work, forthis report. orforthe opinions we have formed. CMB Partnership Limited StatutoryAuditor 7WeyCourt Mary Road Guildford GUI 4QU Date: 11 March 2026 Page 14of 25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Financial Statements (Prepared in accordance with Charities SORP FRS 102- Tier2Accruals Basis) (Prepared in accordance with Charities SORP 2025) Statement of Financial Activities (SOFA) For the Year Ended 31 December 2025 Unrestrlcted Funds Restrlcted Funds Total Unrestrlcted Funds Fund8 Ro$trlcted Total Funds Note 2025 2025 2025 2024 2024 2024 OPERATING INCOME Donations, grgnts, fees and othergeneral Church income Income from inv8Stmenrs Other Income 2181 331,558 16.639 348,197 340,872 j 4,290 345,162 21cl 21dl 4.606 2,334 4,606 5,062 4,914 2,866 1 4,914 4,166 2,728 1,300 TOTAL OPERATING INCOME 338.498 19.367 357,865 348,652 5,590 354,242 OPERATING EXPENDITURE MSssion, chgritable giving and Diocese Parish Share Church activities & Operating Expenditure Rectory Maintenance Govemance costs 31al 143,119 4,423 147.542 136.476 2.606 139.082 31bl 132,876 1.708 134.584 162,507 1.285 1 163,792 31cl | 18.568 31el 14,000 23,568 14,000 1,799 10,618 1 1.799 10,618 308.S63 11,131 j 319,694 311.400 | 3.891 315,291 OPERATING SiIRPLUSIIDEFI¢ITI 29,935 8,236 1 38,171 37.252 1 1.699 38.951 NEWCHURCH CENTRE& HURCH REORDERING 5ncome 21bl 31dl 267,419 122,1631 267,419 122,1631 459.920 1 459.920 176.1391 1100.5251 Expenditure NET INCOMEIEXPENDITURE ON CHURCHCENTRE& CHURCH REORDERING 124,3861 245,256 245,258 1243861 383.781 359.395 NETMOVEMENTIN FUNDS 29.935 253.492 1 283,427 12.868 385.480 398.346 B818nc88 8t 1 J8nuary2025 182,730 494,495 1 677,225 169,864 109,015 278,879 B8len¢e8 at 31 December2025 212.665 747,987 960,652 182,730 494.4 677,225 Page 15of25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Balance Sheet at 31 December 2025 Note 2025 2024 Flxed Assets Tanglble 4,533 12,123 Current Assety Debtors 59,006 27,680 Shortterm deposits )8,089 660,755 Cash at bank 26,055 24.948 Total Current Assets 993.150 713,383 Current Llabllltles Creditors- amounts falling due within one year 137,0311 143.2811 Net Current As38t8 956,119 670,102 Loans due after one year 15,0001 TOTAL NET ASSETS 960.652 677,225 PARISH FUNDS Unrestrlcted- Free Reserves 172,665 182,730 Unrestricted- Designated Reserves 40,000 Restricted Reserves 747,987 494.495 TOTAL FUNDS 960,e52 677,225 Page 16of25
Parish of St Mary's West HorsLey Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Approved bythe PCC and s ed on its behalf on 12 March 2026 by: Victoria G Rutherford Michael D Gercke Church Warden Treasurer Notes to the Financial Statements 1. Accounting Policies (SORP FRS 102-Tier 2) The f inancial statements are prepared under the historical cost convention in accordance with FRS 102 ITier 21. the Charities SORP (FRS 1021, and the Church Accounting Regulations. The PCC is a public benef it entity. Income: Recognised when entitlement. probability, and reliability criteria are met. Donations are recogrlised on receipt unless related to future performance conditions. Gift aid is recognised when the incoming resource to which they relate is received. Grants & Legacles: Recognised when the PCC is legallyentitled to the amounts due. All other Income: Recognised when it is receivable. Resources expended: Grants and donations are accounted forwhen paid over, orwhen awarded, if that award creates a bindingor constructive obligation on the PCC. Amounts received specifically for mission are dealt with as restricted funds and disbursed at agreed intervals. Repalrs recommended following Quinquennial inspections are included once contracted for and expense incurred. All other expenditure is recognised when it is incurred and is accounted for on a gross basis. Fixed Assets: Consecrated and beneficed propeity is not included in the accounts in accordance with the Charities Act 2011. Equipment such as audio-visual equipment and other equipment used within church premises. including portable computers and office equipment, costing in excess of £5,000 is depreciated over4 year period. Funds: Classified as Unrestricted (including Designated), and Restricted. Unrestricted funds are generalfunds which can be used for ordinary PCC purposes although the PCC can set aside (Designated) funds for spgcific purposes. Restricted funds represent (al income from trusts or bequests. and which may be expended only on those restricted objects provided in terms of the trust or bequast, and {bl donations received fora specific object. The funds mayonly be expended on the specific object for which theywere given. Any balance remaining unspent at the end of 8ach year is carried forward as 8 balance on thatfund. Buildings Repair Fund Donations. grants and legacies towards the upkeep ofthe church building. During 2025 the fund received donations and grants towards the restoration and repair of the historic De Berner-stained glass window. Page 17of25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 Rector s Resource Centre The fund is used to purchase books and other media for use by the congregation. Noah's Ark Donations from those who attend are spent on the activities of this baby &toddler group within the Children & Youth ministry. Friday Cafe Money raised from donations from those who attend is used to finance costs incurred or for investment in items to further the ministry Special Appeals Money is raised for special causes and paid overto the beneficiaries at the end of the appeal. Special Collections Money is collected in the church at special services and remitted to a charitable organisation, as decided bythe PCC. BucketFund The Bucket Fund, founded in 2018 forthe purpose of relieving acute f inancial distress for individuals or families known to the Rectorwithin the congreg8tion, currently holds a ba18nce of £1,490. During 2025 there was income of £0 and outgoings of £150 made from the fund in accordance with its Terms of Reference. Appeals for contributions to the Bucket Fund may be made in future years at the discretion of the R8Ctor. New Buildings Fund The New Building8 Fund was set up in 2023 for donations, grants and fundraising proceeds towards the planningand buildingof the new Church Centre and reordering ofthe interior ofthe church. Page 18of25
Parish of St Mary's West HorsleyTrustee Annual Report and Financial Statements for the Year ended 31 December 2025 2. Incoming Resources Unrestrictgd Rostrieted Funds Funds 2025 2025 Total Unrestricted Restrlcted Funds Funds 2024 2024 Total 2025 2024 (al Donotions and l¢ga¢l8s Planned giving.. Regular donations Tax recoverable Legacies Special coll8clions Grants Building repair fund incom8 Donations Fees, weddings & funerals (net) Other 263,467 59,400 263,467 59,400 272,970 60,573 272,970 60,573 2,583 2,583 500 9,056 7,183 6,008 3.325 3,325 1,000 86 1.544 5,552 112 500 1.000 9,056 5.000 86 767 2,183 6,008 777 5,552 112 331,558 16,639 348,197 340,872 4290 345,162 (b) New Bulldlng Fund Donations Tax recoverable Trusts & Grants Fundraising events Bank & deposlt interest 192,322 42,334 1,500 17,515 13.748 267,419 192.322 42.334 1.500 17,515 13,748 267,419 369,070 77.528 3,090 4.604 5,628 459,920 369,070 77,528 3,090 4,604 5,628 459,920 Ic) Income from Investments Bank & CBF deposit interest 4.606 4,914 4,914 (d} Income from church actlvltles eelhouse letlings Noah's Ark & Café Sundry items 971 971 2.728 1,363 5.062 2.790 2,790 1,300 76 2,728 1,300 1,363 2,334 76 2,728 2,866 1,300 4,166 Total Incorning resources In the year 338.498 286,786 625,284 348,652 465,510 814,162 Page 19of25
Parish of St Mary's West HorsleyTrustee Annual Report and Financial Statements forthe Year ended 31 December 2025 3. Resources Expended Unrestrlcted R¢strlcted Funds Funds 2025 2025 Total Unrestrlcted Restrlcted Funds Funds Total 2025 2024 2024 2024 (a) Mission, charitable giving and Diocese Parish Sharo Charities - overseas Charities - UK Special collections Individuals 12.914 19.371 12,914 19,371 4,273 197 36,755 2.647 108,140 4 423 147,542 13,342 20,012 13.342 20,012 2,376 230 35,960 1,358 101,764 139,082 4.273 150 4,423 2,376 230 2,606 47 32.332 2.647 108.140 143,119 33,354 1,358 101,764 136,476 Local Mission Diocesan Parish Share 2,606 {b} Church Actlvltles and Operatlng expendlture Administrative & Employment ¢osts Clergy & staff expenses Ministry, training and other allied parish activities Church running and mainlen8nce Wheelhouse running Costs Samcol Trust Depre¢iation 51,718 9,996 51.718 90.531 90,531 9,996 7,964 7,964 15,004 17.646 662 18.308 13.719 1,285 27,996 1.046 29,042 23,447 23,447 9,418 8,512 7,590 132,876 18,568 9,418 8,512 7.590 1.708 134,584 5,000 23,568 6,427 12,140 8,279 162,507 1,799 6,427 12,140 8,279 163.792 1,799 1.285 Icl Rectory - Malntenance (dl Church Centre & Church reorderlng professional fees Church Centre Church Reordering East Lane Fundraising & Promotional costs Amount Charged to Designated fund 16,648 4,620 895 16.648 4,620 895 70,612 15,026 13,123 1,764 124.3861 76,139 70,612 15,026 13,123 1,764 24,386 22,163 22,163 24,386 100,525 (e) Governance cost$ Audit Fees Payroll Fees Honorarium5 4,240 1,260 8,500 14,000 4,240 1,260 8,500 14,000 3,gDO 1,218 5,500 10,618 3,900 1,218 5.500 10,618 Total resources exponded In tho yoar 308,563 33,294 341.857 335,786 80,030 415,816 Page 20 of 25
Parish of St Mary's West HorsleyTrustee Annual Report and Financial Statements for the Year ended 31 December 2025 4. Staff and Other people costs 2025 2024 {a) Salarles Salartes & National Insuran 39,837 78,326 Pension 893 2,630 40,730 80,956 Staff numlHs'. Full time Part time No employee received emoluments more than £60,000 in the year. The number of employees decreased to 2 part time followingthe departure of the Children's & Youth ministerand the Worship. and Communications staff members. 2025 2024 (b) Honorarium Bookkeeping 5,500 5.500 Other- Intern Children's worker 3,000 8,500 5,500 Ic) Payments to PCC members Page 21 of 25
Parish of St Mary's West HorsleyTrustee Annual Report and Financialstatements for the Year ended 31 December 2025 5. Fixed Assets Car Church Laptop park equlpment ¢ompth$r$ Tot8l Gosl At 1 January 2025 1,500 72,252 2.799 76,551 Additions At 31 December 2025 1.500 72,252 2,799 76,551 Depreciation At 1 January 2025 61,629 2,799 64,428 Depreciation for the year 7.590 7,590 At 31 December 2025 69,219 2,799 72,018 Net book value 1,500 3,033 4,533 In 2022 & 2023 the PCC invested in audio visual equipment including monitors to upgrade facilities for our seNices in the church and to enable live streaming of seNices such as Carols by Candlelight. The PCC have title to the Wheelhouse which was previously"¢onsecrated "and adjacent land. The Wheelhouse is 8 1960's-built building in East Lane, West HorsLey and because itwas consecrated in the past it has never been included as an asset in the Accounts. Application has been made to Guildford Borough Council for change of use to residential as the Wheelhouse will be replaced by the new Church Centre . No existing valuation of the building exists but in view of its age its value is likely to be modest. although the value of the land with residential consent is estimated to be the region of £1 million. Page 22 of 25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 6. Debtors 2025 2024 ppaYmentS 2.447 4,264 Gift aid claim 55,825 21,901 other debtors 734 1,515 59,006 27.680 7. Creditors 2025 2024 Creditors and accruals 16,946 21,834 Mission grants 20,085 21,447 37.031 43,281 8. Creditors more than one year In 2024 a 108n was given to the church for a term of 5 years forthe building project. The loan has now been converted into a donation for the fund. Page 23 of 25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 9. Fund Analysis Opening Balance Closlng Balance 31 December Expendituro Transfers 2025 1 January 2025 Fund Income Unrestrlcted: Designated Free Reserves Restricted Funds.. Building Repairs Building Fund Other funds 40000 40,000 172.665 182.730 338,498 308,563 40,000 7,347 472,323 14,825 494,495 677,225 9,056 267,419 10,311 286,786 625,284 15,357 717,579 15.051 747,987 960,652 22,163 10,085 33,294 341,857 Total Funds The 'other funds, relate to specif ic church activities, also to special appeal8 and collections with details shown in notes 1 and 2lal and 3lal to these accounts. The Building Fund is for the proposed new Church Centre. It is proposed a reordering of the church itself willfollow as a second phase in due course. Designated funds are funds setaside bythe PCC for two specific projects to be incurred in 2026, 10. Analysis of Net Assets Unrestrlcted funds Re$tri¢ted funds Total Total 2025 2024 Tangible fixed assets 4,533 4.533 12,123 Current assets 245,163 747,987 993,150 713,383 Liabilities- falling due within one year (37,0311 137,0311 143,281) Liabililies-falling due after one year 15,0001 212.665 747,987 960,652 677,225 Page 24of 25
Parish of St Mary's West Horsley Trustee Annual Report and Financial Statements for the Year ended 31 December 2025 11. Transactions with connected charities During2014 Samcot Trust purchased a propety17We8ton Lea. West Horsleyl for the charitable purpose of providing accommod8tion forthe St Mary's Children's &Youth minister. The PCC agreed to commence rent81 payments to SamcotTrust in October 2014 in the form of grants to SamcotTrust, as deemed necessary, towards expenditure relatingto the propety. From March 2015 until December 2024 the propertywas occupied bythe Children's & Youth minister and his spouse since when it has been unoccupied. The PCC wishes to retain a propertyto offer as part of a remuneration packagefor a church worker Iprobably 8 Youth worker). Samcot decided to sell 7 Weston Lea and purchase a more suitable property for a family, however pending its sale and while the property is unoccupied the PCC resolved to cover Samcot's mortgage costs on the property. A buyorwas found. howeverjust priorto exchange in late December 2025 the chain broke down. which meant that the purchase of the replacement property could not proceed. As part of the financingforthe replacement propertythe PCC at a special meeting on 3 December had authorised a short-term bridging loan of £55.000 to Samcot untilfunds from a mortgage loan offer from Lloyds Bank plc were received. The shortterm loan is consistent with the church's charitable objective of promoting the mission of the church as it enables itto offer an attractive remuneration package for a church worker. It 18 Still the intention to sell Weston Lea and purchase the origin8l replacement property lif it remains available) or an alternative property but the timing is at present unknown. Payments made to Samcot Tru$t 2025 2024 Rental payments 8.292 12,000 Grants towards property expenses 220 140 8,512 12.140 12. Capital Commitments At theyear end the PCC had outstandingcapital commitments totaling £nil12024-Nil) Page 25 of 25