##
## **– 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
||