– All Saints Church Dedworth 2024 Financial Report and Accounts
Expenditure exceeded income in 2024, resulting in a deficit of -£2.3k. However, this reflected some one-off costs during the year, such as £7.3k spent on refurbishing the café, and £3k on repairs to the church roof. Importantly, regular monthly giving increased in the year by £10.3k, albeit the number of regular givers to the Parish Giving Scheme and by way of monthly standing order reduced slightly:-
| Regular Income Standing Orders Parish Giving Scheme PGS Tax income Cash Collections (incl. envelopes) Sub total of regular giving Hall Hire Total |
2021 2022 2023 2024 Var. 24/23 Total Total Total Total + / - 10,186 10,426 10,157 9,700 -457 31,503 35,453 43,403 52,348 8,945 7,336 8,273 9,993 11,979 1,986 2,872 1,698 2,944 2,814 -130 51,897 55,850 66,496 76,840 10,344 6,475 10,145 15,779 15,522 -257 58,372 65,995 82,275 92,363 10,087 |
2021 2022 2023 2024 Var. 24/23 Total Total Total Total + / - 10,186 10,426 10,157 9,700 -457 31,503 35,453 43,403 52,348 8,945 7,336 8,273 9,993 11,979 1,986 2,872 1,698 2,944 2,814 -130 51,897 55,850 66,496 76,840 10,344 6,475 10,145 15,779 15,522 -257 58,372 65,995 82,275 92,363 10,087 |
2021 2022 2023 2024 Var. 24/23 Total Total Total Total + / - 10,186 10,426 10,157 9,700 -457 31,503 35,453 43,403 52,348 8,945 7,336 8,273 9,993 11,979 1,986 2,872 1,698 2,944 2,814 -130 51,897 55,850 66,496 76,840 10,344 6,475 10,145 15,779 15,522 -257 58,372 65,995 82,275 92,363 10,087 |
2021 2022 2023 2024 Var. 24/23 Total Total Total Total + / - 10,186 10,426 10,157 9,700 -457 31,503 35,453 43,403 52,348 8,945 7,336 8,273 9,993 11,979 1,986 2,872 1,698 2,944 2,814 -130 51,897 55,850 66,496 76,840 10,344 6,475 10,145 15,779 15,522 -257 58,372 65,995 82,275 92,363 10,087 |
|---|---|---|---|---|
| Total | Total | Total | Total | |
| 10,186 | 10,426 | 10,157 | 9,700 | |
| 31,503 | 35,453 | 43,403 | 52,348 | |
| 7,336 | 8,273 | 9,993 | 11,979 | |
| 2,872 | 1,698 | 2,944 | 2,814 | |
| 51,897 | 55,850 | 66,496 | 76,840 | |
| 6,475 | 10,145 | 15,779 | 15,522 | |
| 58,372 | 65,995 | 82,275 | 92,363 |
A new church administrator was appointed in April resulting in an increase in salary costs of £5k; otherwise general running costs were closely managed without any significant increase.
The Vine and Fig Tree Church Café opened at the beginning of September and, taking into account generous donations for food purchases at launch, has contributed a net income of £1.5k since opening. It has also welcomed new people into the church and has provided opportunities to share the gospel with young people and new families in the community.
Despite the small loss for the year, the Church continues to hold £58k in a general fund in reserves which is sufficient to meet forecast costs and expenses in 2025.
Reserves policy
It is PCC policy to maintain a balance on unrestricted funds that equates to at least three months' unrestricted payments; this is equivalent to £35k. It is held to smooth out fluctuations in cash flow and to meet emergencies. The remaining level of reserves at year end is sufficient to cover budgeted expenditure in 2025 and enables the church to maintain its current level of worship and pastoral support. In the event of surplus funds at the financial year-end, the PCC will consider how these funds might be used for local mission, outreach and chartitable giving.
Paul Watkins, Treasurer, All Saints Dedworth
INCOME & EXPENDITURE ACCOUNT
YEAR ENDED 31ST DECEMBER 2024
| INCOME | ||
|---|---|---|
| 2023 | 2024 | |
| £53,560 | Net Gift Aid Pledges | £62,048 |
| £13,059 | Tax Relief on Gift Aid Pledges | £15,338 |
| £66,619 | Total Pledged Giving | £77,386 |
| £2,944 | Church Collections | £2,814 |
| £15,779 | Hall Hire | £15,522 |
| £18,723 | £18,336 | |
| £11,076 | ODBF Contribution to housing | £18,000 |
| £11,325 | Donations | £6,627 |
| £314 | Fund Raising | £0 |
| £1,396 | Funerals/ Baptisms/ Weddings | £1,896 |
| £1,750 | Grants | £5,135 |
| £102 | Interest and Dividends Received | £1,457 |
| £0 | Miscellaneous | £856 |
| £5,000 | Legacies | £0 |
| £604 | Special Collections | £483 |
| £801 | Youth Group | £919 |
| £32,000 | Special Purpose Donation for curate housing | £0 |
| £64,368 | £35,373 | |
| £0 | Church Café income | £5,658 |
| £149,710 | TOTAL INCOME | £136,753 |
| EXPENSES 2023 THE CHURCH & SERVICES £7,090 Lighting & Heating £7,382 £2,045 Insurance £2,131 £0 Refurbishment of Cafe £7,307 £4,040 Minor repairs & maintenance £5,810 £461 Miscellaneous £1,803 £5,413 Upkeep of Services £6,014 £470 Salaries £5,406 £19,519 OTHER EXPENSES £18,307 Curate Housing Rent £24,000 £0 Administration £0 £2,067 Catering £971 £1,720 Equipment Purchases £2,269 £479 Printing £328 £604 Special Collections £538 £1,489 Telephone/Internet £1,419 £1,297 Youth Work £1,924 £25,963 PAYMENTS OUTSIDE PARISH £68,359 Parish Share £68,137 £1,241 Charitable Giving £415 £69,600 £0 Church Café expenditure £115,082 TOTAL EXPENSES £34,628 Surplus / (Deficit) |
£7,382 £2,131 £7,307 £5,810 £1,803 £6,014 £5,406 |
£7,382 £2,131 £7,307 £5,810 £1,803 £6,014 £5,406 |
2024 £35,853 £31,449 £68,552 £3,166 £139,020 (£2,267) |
|---|---|---|---|
BALANCE SHEET AS AT 31ST DECEMBER 2024
| 31/12/2023 £579 £33,341 £100 £20,014 £30,000 £0 £84,034 £50,695 £7,821 £170 £24,769 £579 £0 £0 £84,034 |
Assets 31/12/2024 Diocesan Trustees Investment Account £633 Metro Bank - ASD Current Account £60,850 Metro Bank - Running Man Café £100 Metro Bank Instant Access Savings A/c £20,238 Metro Bank Fixed Rate Savings A/c £0 Petty cash £0 £81,821 Apportioned as follows Unrestricted Funds General Fund £58,105 Designated Funds: New Church Administrator Salary £0 Youth Work Fund £179 Restricted Funds Special Purpose Donation (Housing) £18,769 Perpetual Trust Fund £633 RBWM Grant - Grounds Fund £1,400 Prince Philip Trust Grant £2,735 £81,821 2024 RESERVES TO NET LOSS RECONCILIATION Opening Assets £84,034 Movement in Trustee a/c £54 Net Gain / (Loss) (£2,267) Total Reserves c/fwd £81,821 |
31/12/2024 £633 £60,850 £100 £20,238 £0 £0 |
|---|---|---|
| £81,821 | ||
| £58,105 £0 £179 £18,769 £633 £1,400 £2,735 |
||
| £81,821 | ||
| Opening Assets Movement in Trustee a/c Net Gain / (Loss) Total Reserves c/fwd |