REGISTERED CHARITY NUMBER: 1186446
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
FOR
ST MARY DE CASTRO LEICESTER PCC
Duncan & Toplis Limited 3 Princes Court Royal Way Loughborough Leicestershire LE11 5XR
ST MARY DE CASTRO LEICESTER PCC
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 7 |
| Independent Examiner's Report | 8 | ||
| Statement of Financial Activities | 9 | ||
| Statement of Financial Position | 10 | ||
| Notes to the Financial Statements | 11 | to | 19 |
| Detailed Statement of Financial Activities | 20 | to | 21 |
ST MARY DE CASTRO LEICESTER PCC
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
BACKGROUND
The Collegiate and Parish church of St Mary de Castro, Leicester, is an ancient parish church and the second oldest place of worship in the City of Leicester. It has been a place of prayer for over 900 years and combines splendid interior architecture and an intriguing history with a warm welcome to all who come to join us in worship or simply to have a look around.
St Mary's is regarded as one of the finest Norman churches in England having been first built as a chapel within the precinct of the bailey of Leicester Castle by Robert Beaumont, 1st Earl of Leicester, and has been part of the major events in the history of the City of Leicester. We warmly welcome all visitors who want to enjoy the beautiful surroundings of this historic church whether to view the architecture, study the history, or simply spending some quiet time away from the hustle and bustle of the city centre. St Mary's is on the Richard III and Heritage Walking trail and is open for some part of every day.
The Parochial Church Council of St Mary de Castro is a body corporate established by the Church of England. The PCC operates under the Parochial Church Councils (Powers) Measure 1956. The PCC is a charity and all the members of the PCC are charity trustees. The PCC is registered with the Charity Commission as a Charity.
OBJECTIVES AND ACTIVITIES
Aims and purposes
In pursuance of its charitable objects (particularly the advancement of the Christian religion for the public benefit) and in accordance with the Parochial Church Councils (Powers) Measure 1956 and the Synodical Government Measure 1969:
"It shall be the duty of the incumbent and the Parochial Church Council to consult together on matters of general concern and importance to the parish. The functions of the PCC shall include: Co-operation with the Incumbent in promoting in the parish the whole mission of the Church, pastoral, evangelistic , social and ecumenical; the consideration and discussion of matters concerning the Church of England or any other matters of religious or public interest, but not the declaration of the doctrine of the Church on any question; making known and putting into effect any provision made by the Diocesan/Deanery Synod on any matter referred to the Council; raising such matters as the Council consider appropriate with the Diocesan/Deanery Synod. In the exercise of its function, the PCC shall take into consideration any expression of opinion by any Parochial Church Meeting."
Public benefit
When planning objectives and activities for the year, the Churchwardens and the PCC have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
Page 1
ST MARY DE CASTRO LEICESTER PCC
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
ACHIEVEMENTS AND PERFORMANCE Objectives and activities
St Mary de Castro PCC fulfils its aims and purposes through activities associated with four main objectives.
St Mary de Castro PCC provides:
1. Regular public worship open to all
The Holy Eucharist forms the centre of our spiritual life as a parish and is celebrated twice each week. The Wednesday mass is a said service and the Sunday mass is a sung service led by the St Mary de Castro choir led by Choir Director Willard Welsford. It is good to be able to report that the number of regular members of the congregation is both growing and becoming more ethnically diverse as part of the development of St Mary De Castro. In addition to these regular services, a variety of additional services were sung by the De Montfort Choir and three of the 11:00 services on a Sunday were also sung by the Leicester University Chamber Choir. The St Mary de Castro chorus also sang at a 9 Lessons and Carols service on the evening of the first Sunday of Christmas when the plaque in remembrance of John Bence was dedicated by Fr Bob Stephen. Other services included an Animals Service in October and a Babyloss service in November; and the Guild of the Servants of the Sanctuary held two meetings and had a service afterwards. (St Mary de Castro being one of their regular venues.)
Sundays
11:00a.m. Sung Eucharist with sermon
Wednesdays
11:00a.m. Holy Eucharist
2. Sacred space for personal prayer and contemplation
The PCC ensures:
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Our church and grounds are well kept and welcoming to all.
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The Parish Church is normally open to members of the public during the week (Monday 10:30 to 12:00, Tuesday, Wednesday and Thursday 12:00 to 14:00: Friday and Saturday 12:00 to 16:00, Sunday as above). 6,833 people visited the church in 2025, compared to 7,135 in 2024.
3. Pastoral work, including visiting the sick and the bereaved
The PCC supports the work of our group of Clergy who are responsible for Pastoral Care in the Parish:
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All who desire our pastoral services receive a ministry of care and welcome.
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Baptism and confirmation of children and adults involves full preparation, a warm welcome and ongoing care.
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Holy Communion is taken to anyone sick at home, in hospital or in rest homes who desires it.
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The clergy are notified and parishioners are visited when in hospital or bereaved.
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The last rites are administered when appropriate.
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The bereaved are visited prior to every funeral and their loved ones remembered as demonstrated by the funerals of Anne Gallagher on 12 March, Josie Adams on 11 June and Joyce Levell on 21 December.
4. Promotion of Christianity through events, meetings and the distribution of literature
The PCC promotes the full range of its activities through a website, social media, church noticeboards and the church sometimes features in articles in the Leicester Mercury.
Page 2
ST MARY DE CASTRO LEICESTER PCC
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
FINANCIAL REVIEW
Financial position
The main sources of income continue to include regular giving by the congregation together with gift aid, donations and gifts arising from Open Door. In addition, we received a significant legacy in 2025. Expenditure is closely controlled in order to ensure that it is covered by income.
In addition, the church is increasingly being used by a variety of outside organisations who are making contractual payments or donations to the PCC. These organisations include Leicester Cathedral who use St Mary de Castro for some of their school visits, visiting bell ringers, Sound Café Leicester, the Babyloss Support Organisation, the Leicester University Chamber Choir, the De Montfort Chamber Choir, the Leicestershire Chorale, the Cantamici Choir, Coro Nostro, the Semper singers with the Sound Café choir, Gavin Bryers and the Hannah Brine Trio.
Total incoming resources for the year were £209,466 (2024: £55,048). Expenditure was £64,294 (2024: £39,753). Net gains on investments totalled £222 (2024: £6), resulting in a net surplus for the year of £145,394 (2024: £15,301).
Reserves policy
The PCC seeks to maintain adequate reserves to ensure all reasonable day to day running costs can be met as and when they fall due, recognising the basic financial principle that the PCC is responsible for ensuring that solvency is maintained.
The PCC has adopted a reserves policy of retaining sufficient liquidity to cover two months unrestricted expenditure. Adoption of the Parish Giving Scheme is expected to enable the PCC to extend this policy.
At the year end the charity held unrestricted reserves of £180,665 including cash at bank and in hand of £124,518. This is considered sufficient in line with the above policy for unrestricted funds.
The restricted reserves at the year-end were £23,522, made up of a £9,520 fixed asset in the Organ Fund, £8,379 fixed assets in the Security Fund, £1,477 cash in the Bells Fund, £1,532 cash in the John Bence Memorial Fund, £364 cash in the Bell Tower Fund and £2,250 cash in the Future Projects Fund.
The total reserves of the charity at the year-end are £204,187 owing to the above.
Page 3
ST MARY DE CASTRO LEICESTER PCC
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
FUTURE PLANS
We will continue to hold services on Wednesday and Sunday with the celebrant being one of our "College of Priests" all of whom gave wonderful service during 2025. The priests who were part of the "College" in 2025 were:
Father Philip O'Reilly Father Russell Hunt Father Johannes Arens Father Chris Oxley Father Alan Hawker Father Stephen Foster Father Barry Naylor Father Bob Stephen
A core group within the "College" will continue to look after Pastoral matters, including confessions, sick communions, last rites and other matters about which members of the congregation seek support, help and guidance from their parish priest. This core group contains Father Philip O'Reilly, Father Johannes Arens and Father Chris Oxley.
The day to day administration of the parish will continue to be led by the Standing Committee and the wider Parochial Church Council as described elsewhere in this report.
Development of the Action points agreed by the PCC during 2025 will continue. In summary these action points are:
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Building stronger links with the student population at De Monfort University, including devising services attractive to students.
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Expanding our Open Door Programme and providing training to new and existing volunteer Stewards.
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Further work with the website including increasing our presence on social media.
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Expanding the number of events taking place at St Mary's including hosting external services and concerts. In 2024 this included all of the choirs and concerts described above.
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Continuing to work with Sound Café.
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Developing our heritage opportunities in conjunction with both De Montfort University and Leicester Cathedral.
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Enhance the provision of music at services - the appointment of Willard Welsford as our Choir Director has led to a significant improvement as a quality choir now sings at all the services held at 11:00 on Sunday.
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Encourage visits from other community groups, organisations and schools. Examples this year included a continuation of the relationship with Sound Café who regard the church as their home in a year where they won the Kings Award for Voluntary Service. The De Montfort Choir sang at four services; the Leicester University Chamber Choir continue to use the church for rehearsals every Tuesday evening in term time and they sang at three 11:00 services. Following the appointment of Willard Welsford as our Choir Director the St Mary de Castro choir sings at all the 11:00 services and sang at a Nine Lessons and Carols service on the evening of the first Sunday of Christmas which included the dedication of the plaque to John Bence by Fr Bob. We had a said Requiem mass on All Souls Day, the Bishop of Richborough's October devotions day, an Animals service in October and a Babyloss service in November, with two meetings and services by the Guild of the Servants of the Sanctuary. The church also hosted the Society of the Holy Cross Midlands Clergy Synod in February. We had three funerals in church. Concerts in church featured a special Gavin Bryars event, a concert by the Leicestershire Chorale, and performances from Coro Nostro and Hannah Brine There were a variety of visits by organisations to the church which included the Stained Glass Museum, Slater Street School, Houghton on the Hill school, Billesdon Primary School and North Mead Primary School, the British Archaeological Association and a Mother of God church tour. We participated in Heritage Sundays between May and October and we are part of the Cathedral Walking tour route. Under the leadership of our Bell Tower Captain (Lewis Benfield) our bells were rung regularly with a number of visiting Peal Bands ringing the bells and we participated in "Ride and Stride" in September.
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Work will also continue to grow the regular congregation and to build a sound financial base.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Parochial Church Council of St Mary de Castro is a body corporate established by the Church of England. The PCC operates under the Parochial Church Councils (Powers) Measure 1956. The PCC is an unincorporated charity as its gross income exceeded the £100,000 threshold required for registration with the Charity Commission in 2018. Registration was completed in November 2019. Our Charity Registration Number is: 1186446. All the members of the PCC are charity trustees.
Charity constitution
The Parochial Church Council is a body corporate established by the Church of England. The PCC operates under the Parochial Church Council (Powers) Measure 1956.
The Church Representation Rules (CRR) were updated in 2020 and the PCC now follows the CRR 2020 legislation. Full details of which can be found at: https://www.churchofengland.org/.
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ST MARY DE CASTRO LEICESTER PCC
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The way in which the PCC organises itself in order to carry out its aims and objectives can be seen from the information below:
MEETINGS OF THE PCC in 2025
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27 March
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25 April
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19 June
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4 September
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4 December
MEETINGS OF THE STANDING COMMITTEE IN 2025
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3 March
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19 May
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1 August
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10 November
BUSINESS CONDUCTED
All meetings of the Council received reports from the Churchwardens and Standing Committee, the Treasurer, the Deanery Synod representatives, Challenge 900 and the Parish Safeguarding Officer.
In the absence of a Priest in Charge the meetings are chaired by Chris Phillips, the PCC Vice-Chairman.
Some items of note include:
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Careful monitoring at every meeting of the financial performance of the PCC via high quality control and reporting by the Treasurer.
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A variety of discussions relating to heritage including the Heritage Sundays programme.
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Information about the finances and governance of Challenge 900 and consideration of the money available to the PCC as in the objects of this Charity.
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Consideration of issues raised at meetings of the Deanery Synod as reported to the PCC by our two representatives.
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- Discussion of matters relating to the upkeep and repair of the church building; and all the work done by various people who are responsible for cleaning, flowers, refreshments, sidesmen, serving, Open Door, the garden.
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Focus on the clergy rota and the excellent support of all members of the College of Priests.
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Regular updates on all aspects of the Open Door programme.
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Discussion of the Social Media reports which show the high quality and immensely valuable work of the Social Media Officer.
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Detailed discussion of the Minster Communities proposals.
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The arrangements for the Annual Parochial Church meeting.
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Consideration of the church bookings.
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Detailed discussion of all aspects of services, concerts and music .including the significant developments of the church choir since the appointment of Willard Welsford as Choir Director.
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Discussion of the faculty for the John Bence memorial plaque and the plans to dedicate the plaque after the faculty was secured.
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Consideration of qualifications and courses for PCC members.
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Updating of the Parish Handbook and the Church guide books.
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Due to the excellent reports from the Parish safeguarding officer the PCC has compiled with its duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016.
STANDING COMMITTEE: TERMS OF REFERENCE
At its meeting on 24 February 2021 the PCC unanimously agreed that the future management of the parish should be led by the Standing Committee. The membership is the two Churchwardens and the two Deputy Churchwardens with Alan Fletcher acting as Chair. Detailed minutes are taken and circulated to the PCC for consideration and approval of any recommended actions. The Standing Committee met as noted above.
Page 5
ST MARY DE CASTRO LEICESTER PCC
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment, induction and training of PCC members
The Churchwardens have the main role in this area at St Mary de Castro. They identify members of the congregation who have the time and talents which qualify them to be PCC members and Charity trustees. They ensure that, once elected, new PCC members are familiarised with their responsibliities; and this work is supplemented by PCC members attending courses on a variety of issues offered by the Leicester Diocese. The information received at such training is reported to the PCC at subsequent meetings.
Challenge 900 and The Friends of St Mary De Castro
This is a separate charity which raises funds in order to assist the PCC in fulfilling the parish mission.
Risk management
The principal risks and uncertainties facing the PCC are governance risks, operational risks, financial risks and regulatory risks.
In summary the plans and strategies for managing these risks are:
Governance risks - these arise in particular in relation to the skills and competence of members of the PCC. Members of the Council are elected because of their commitment to the mission of St Mary de Castro and because of the diverse range of ability and expertise they bring to the management of the parish. There is a risk that, in future, it will not always be possible to recruit sufficient people to the charity with the skills required but careful attention is paid at all times to the needs of good succession planning as described above.
Operational risks - the risks here are, in particular, in relation to the protection of children and vulnerable adults, and health and safety. The PCC has a Child and Vulnerable Adults Protection Officer and reviews and approves an appropriate policy annually. The Church Wardens and members of the PCC are currently in the process of completing the required Safeguarding training. In addition, there is regular contact with the specialists in this field employed by the Leicester Diocese including attendance at training courses operated by the diocese. An independent Children's Advocate has been appointed by the PCC.
A Health and Safety policy has been approved and adopted by the PCC. In addition, both a policy and training manual for people who volunteer as part of Open Door are being prepared. A Fire Risk Assessment has been done.
Financial risks - there are a variety of risks in relation to the finances of the PCC: to regular giving, reserves and cashflow. The PCC is committed to reviewing Income and Expenditure to ensure that the Parish remains solvent; and to adopt an appropriate investment strategy and regularly monitor the performance of the assets invested.
Regulatory risks - the main regulatory risks are child and vulnerable adult protection (see above), Health and Safety (see above) and data protection. The General Data Protection Regulations come in force on 25 May 2018. The PCC agreed a GDPR policy at its meeting on the 6th June 2018.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1186446
Principal address
St Mary De Castro Church Castle Street Leicester LE1 5WN
Page 6
ST MARY DE CASTRO LEICESTER PCC
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
Trustees
We are the Parochial Church Council of The Collegiate and Parish Church of St Mary de Castro Leicester located at 15 Castle Street, Castle View, Near Castle Park, Leicester LE1 5WN. The Church Wardens are the people to whom day-to-day management is delegated.
The members of the PCC during the year were as follows:
Chris Phillips (Churchwarden and Vice-Chairman of the PCC) Alan Fletcher (Churchwarden, PCC Secretary and Electoral Roll Officer) Paul Kellett (Deputy Churchwarden) Sheila West (Deputy Churchwarden and Open Door co-ordinator) Andrew Green (Treasurer and Organist) Cheryl Utecht (Parish Safeguarding Officer) Vic Allsop (Deanery Synod representative and Chair of Challenge 900) Tony Wells (Gift Aid Officer) Mark Haworth (Parish Liturgist) Stephen Popple (Deanery Synod representative)
Independent Examiner Mr N A Kingsley FCA Duncan & Toplis Limited 3 Princes Court Royal Way Loughborough Leicestershire LE11 5XR Bankers The PCC bankers are: NatWest 1 Granby Street Leicester LE1 6EJ Architect The retained architect is: Eleanor McEvedy E. B. McEvedy Historic Building Consultants The Old Rectory 8 Water Lane Stathern Leicestershire LE14 4HX
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................................................. Mr C Phillips - Trustee
Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MARY DE CASTRO LEICESTER PCC
Independent examiner's report to the trustees of St Mary de Castro Leicester PCC
I report to the charity trustees on my examination of the accounts of St Mary de Castro Leicester PCC (the Trust) for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr N A Kingsley FCA
Duncan & Toplis Limited 3 Princes Court Royal Way Loughborough Leicestershire LE11 5XR
Date: .............................................
Page 8
ST MARY DE CASTRO LEICESTER PCC
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 192,239 Charitable activities Charitable Activities 3,156 Investment income 4 82 Total 195,477 EXPENDITURE ON Charitable activities 5 Charitable Activities 41,586 Net gains on investments 222 NET INCOME/(EXPENDITURE) 154,113 RECONCILIATION OF FUNDS Total funds brought forward 26,552 TOTAL FUNDS CARRIED FORWARD 180,665 |
Restricted funds £ 13,587 402 - 13,989 22,708 - (8,719) 32,241 23,522 |
2025 Total funds £ 205,826 3,558 82 209,466 64,294 222 145,394 58,793 204,187 |
2024 Total funds £ 49,952 5,034 62 55,048 39,753 6 15,301 43,492 58,793 |
|---|---|---|---|
The notes form part of these financial statements
Page 9
ST MARY DE CASTRO LEICESTER PCC
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2025
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 12 - Investments 13 28,112 28,112 CURRENT ASSETS Debtors 14 4,033 Investments 15 30,000 Cash at bank 124,518 158,551 CREDITORS Amounts falling due within one year 16 (5,998) NET CURRENT ASSETS 152,553 TOTAL ASSETS LESS CURRENT LIABILITIES 180,665 NET ASSETS 180,665 FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 17,899 - 17,899 - - 5,623 5,623 - 5,623 23,522 23,522 |
2025 Total funds £ 17,899 28,112 46,011 4,033 30,000 130,141 164,174 (5,998) 158,176 204,187 204,187 180,665 23,522 204,187 |
2024 Total funds £ 17,281 2,890 20,171 3,055 - 40,384 43,439 (4,817) 38,622 58,793 58,793 26,552 32,241 58,793 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr A K Fletcher - Trustee
............................................. Mr C Phillips - Trustee
The notes form part of these financial statements
Page 10
ST MARY DE CASTRO LEICESTER PCC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. GENERAL INFORMATION
The Parochial Church Council of The Collegiate and Parish Church of St Mary de Castro Leicester, known as St Mary De Castro Leicester PCC, is a registered charity in England and Wales. The charity's registered number is 1186446 and principal address is St Mary De Castro Church, Castle Street, Leicester, LE1 5WN.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied to all years presented unless otherwise stated.
The financial statements cover the individual entity.
The entity constitutes a public benefit entity as defined by FRS 102.
No material uncertainties related to going concern.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The accounts (financial statements) have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the charitable company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no critical accounting judgements or estimation uncertainty that, in the opinion of the trustees, will have a material effect on the financial statements.
Income
Legacies are accounted for as soon as the PCC is notified of its legal entitlement and the amount is quantifiable and its ultimate receipt by the PCC is considered reasonably certain.
Grants and donations, including government grants, are included in the SOFA when any preconditions preventing their use by the PCC have been met. For collections and planned giving this is when the funds are received.
VAT recovered from the Department of Culture, Media and Sport Listed Place of Worship Scheme is included when receipt by the PCC is considered reasonably certain.
continued...
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ST MARY DE CASTRO LEICESTER PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
2. ACCOUNTING POLICIES - continued
Income
Income tax recoverable on Gift Aid is recognised at the same time as the income.
Funds raised by fetes and other social events are accounted for gross.
Rental income from the letting of church properties is recognised when the rental is due.
The PCC receives substantial practical assistance from individual church members, but the financial value is mainly unquantifiable, and no attempt is made to reflect this in the accounts.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Organ Straight Line over 15 years Fixtures & Fittings Straight Line over 10 years
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
continued...
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ST MARY DE CASTRO LEICESTER PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
3. DONATIONS AND LEGACIES
| Donations Gift aid Legacies Grants Planned giving Collections at services |
2025 £ 24,158 5,692 152,382 7,996 13,991 1,607 205,826 |
2024 £ 22,980 5,059 2,000 5,360 13,354 1,199 49,952 |
|---|---|---|
Grants received, included in the above, are as follows:
| Leicester Diocese Leicestershire Historic Churches Trust Leicestershire County Council Historic Buildings Grant Scheme Listed Places of Worship Grant Scheme |
2025 2024 £ £ - 5,360 1,500 - 4,331 - 2,165 - |
|---|---|
| 7,996 5,360 |
Included within grants above is £2,165 (2024: £Nil) from the Listed Places of Worship Grant Scheme, and £4,331 (2024: £Nil) from the Leicestershire County Council Historic Building Grant Scheme which are government grants as defined by the SORP.
4. INVESTMENT INCOME
| Investment fund income | 2025 2024 £ £ 80 59 |
|---|---|
| Deposit account interest | 2 3 |
| 82 62 |
| 5. | CHARITABLE ACTIVITIES COSTS | |
|---|---|---|
| Charitable Activities | Direct Support Costs (see costs (see note 6) note 7) Totals £ £ £ 59,266 5,028 64,294 |
continued...
Page 13
ST MARY DE CASTRO LEICESTER PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
----- Start of picture text -----
|||||
|---|---|---|---|
|2025|2024|
|£|£|
|Church running expenses|25,147|16,321|
|Church repairs and maintenance|15,617|2,295|
|Insurance|12,702|12,586|
|Parish share|2,420|2,200|
|Stationery and publications|715|187|
|Organists|2,665|1,300|
|59,266|34,889|
|7.|SUPPORT COSTS|
|Governance|
|Other|costs|Totals|
|£|£|£|
|Charitable Activities|2,120|2,908|5,028|
|Support costs, included in the above, are as follows:|
|Other|
|2025|2024|
|Charitable|Total|
|Activities|activities|
|£|£|
|Depreciation of tangible fixed assets|2,120|1,846|
|Governance costs|
|2025|2024|
|Charitable|Total|
|Activities|activities|
|£|£|
|Independent examination fees|2,908|3,018|
|8.|INDEPENDENT EXAMINERS' REMUNERATION|
|2025|2024|
|£|£|
|Independent examination|2,908|3,018|
----- End of picture text -----
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.
Trustees' expenses
There were no trustees' expenses for the year ended 31 December 2025 nor for the year ended 31 December 2024.
continued...
Page 14
ST MARY DE CASTRO LEICESTER PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
10. STAFF COSTS
There were no employees during the current or prior year. Details of trustees and PCC members are noted in the trustees' report.
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 39,316 10,636 Charitable activities Charitable Activities 4,359 675 Investment income 62 - Total 43,737 11,311 EXPENDITURE ON Charitable activities Charitable Activities 37,807 1,946 Net gains on investments 6 - NET INCOME 5,936 9,365 RECONCILIATION OF FUNDS Total funds brought forward 20,616 22,876 TOTAL FUNDS CARRIED FORWARD 26,552 32,241 12. TANGIBLE FIXED ASSETS Fixtures and Organ fittings £ £ COST At 1 January 2025 12,900 9,858 Additions - 2,738 At 31 December 2025 12,900 12,596 DEPRECIATION At 1 January 2025 2,520 2,957 Charge for year 860 1,260 At 31 December 2025 3,380 4,217 NET BOOK VALUE At 31 December 2025 9,520 8,379 At 31 December 2024 10,380 6,901 |
Total funds £ 49,952 5,034 62 55,048 39,753 6 15,301 43,492 58,793 Totals £ 22,758 2,738 25,496 5,477 2,120 7,597 17,899 17,281 |
|---|---|
continued...
Page 15
ST MARY DE CASTRO LEICESTER PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
13. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 January 2025 Additions Revaluations At 31 December 2025 NET BOOK VALUE At 31 December 2025 At 31 December 2024 There were no investment assets outside the UK. Cost or valuation at 31 December 2025 is represented by: Valuation in 2025 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income 15. CURRENT ASSET INVESTMENTS Fixed Deposit Account 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses |
2025 £ 80 3,953 4,033 2025 £ 30,000 2025 £ 5,998 |
Listed investments £ 2,890 25,000 222 28,112 28,112 2,890 Listed investments £ 28,112 2024 £ 1,091 1,964 3,055 2024 £ - 2024 £ 4,817 |
|---|---|---|
continued...
Page 16
ST MARY DE CASTRO LEICESTER PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
17. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Security fund Organ fund Future projects fund Bells Fund John Bence Memorial Fund Bell Tower Fund TOTAL FUNDS |
Net movement At At 1.1.25 in funds 31.12.25 £ £ £ 26,552 154,113 180,665 6,901 1,478 8,379 10,380 (860) 9,520 2,250 - 2,250 1,075 402 1,477 6,275 (4,743) 1,532 5,360 (4,996) 364 32,241 (8,719) 23,522 58,793 145,394 204,187 |
|---|---|
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Security fund Organ fund Bells Fund John Bence Memorial Fund Bell Tower Fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Security fund Organ fund Future projects fund Bells Fund John Bence Memorial Fund Bell Tower Fund TOTAL FUNDS |
Incoming resources £ 195,477 2,738 - 402 2,853 7,996 13,989 209,466 |
Resources Gains and Movement expended losses in funds £ £ £ (41,586) 222 154,113 (1,260) - 1,478 (860) - (860) - - 402 (7,596) - (4,743) (12,992) - (4,996) (22,708) - (8,719) (64,294) 222 145,394 Net movement At At 1.1.24 in funds 31.12.24 £ £ £ 20,616 5,936 26,552 7,886 (985) 6,901 11,240 (860) 10,380 2,250 - 2,250 500 575 1,075 1,000 5,275 6,275 - 5,360 5,360 22,876 9,365 32,241 43,492 15,301 58,793 |
|---|---|---|
continued...
Page 17
ST MARY DE CASTRO LEICESTER PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted funds|
|General fund|43,737|(37,807)|6|5,936|
|Restricted funds|
|Security fund|1|(986)|-|(985)|
|-|-|
|Organ fund|(860)|(860)|
|Bells Fund|675|(100)|-|575|
|John Bence Memorial Fund|5,275|-|-|5,275|
|Bell Tower Fund|5,360|-|-|5,360|
|-|
|11,311|(1,946)|9,365|
|TOTAL FUNDS|55,048|(39,753)|6|15,301|
----- End of picture text -----
The Security Fund
The Security Fund is in respect of a new CCTV system purchased using a grant received from All Churches Trust and restricted donations from Challenge 900 Charitable Trust towards the improvement of security at the church.
The Organ Fund
The Organ fund is with respect to the organ purchased in 2022 with a restricted donation from Challenge 900.
The Future Projects Fund
The Future Projects fund is in relation to an underspend on the monies received from Challenge 900 Charitable Trust. The trustees of Challenge 900 have given their permission for the charity to hold the remaining funds to allocate to a future project which has not yet been decided.
The Bells Fund
Monies received towards future maintenance of the church bells.
John Bence Memorial Fund
The Music/Choir Fund has been renamed the John Bence Memorial Fund, and consists of monies received towards the upkeep and running of the church choir.
The Bell Tower Fund
Funding recieved towards repairs of the bell tower staircase.
18. RELATED PARTY DISCLOSURES
During the year, St Mary De Castro Challenge 900 Charitable Trust known as "Friends of St Mary", a separate charity set up to raise funds for St Mary De Castro, which has mutual trustees, incurred expenditure totalling £1,141 (2024: £1,857) towards repairs and maintenance costs of the charity. These amounts have been recognised within donations and repairs and maintenance within charitable activities costs in the SoFA.
During 2025 Challenge 900 also incurred expenditure of £2,738 (2024: £Nil) towards additional cameras for the church alarm system, this amount has been recognised within donations to the securtity fund in the SoFA and fixtures and fittings in the balance sheet.
Furthermore, during 2024, St Mary De Castro Challenge 900 Charitable Trust transferred an investment fund containing £2,884 into the name of the charity. This amount was recognised within donations and fixed asset investments in the 2024 accounts.
During the year one trustee received £1,000 (2024: £1,250) in Organist Honorarium payments.
The total value of donations without conditions made by the Trustees to the Charity during the period was £9,208 (2024: £8,197).
continued...
Page 18
ST MARY DE CASTRO LEICESTER PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
18. RELATED PARTY DISCLOSURES - continued
At the year-end there was nothing owed by St Mary De Castro Challenge 900 Charitable Trust to St Mary de Castro PCC.
Page 19
ST MARY DE CASTRO LEICESTER PCC
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Legacies Grants Planned giving Collections at services Investment income Investment fund income Deposit account interest Charitable activities Church lettings Other church activity Total incoming resources EXPENDITURE Charitable activities Church running expenses Church repairs and maintenance Insurance Parish share Stationery and publications Organists Support costs Other Organ Fixtures and fittings Governance costs Independent examination fees Total resources expended Net income before gains and losses Realised recognised gains and losses Carried forward |
2025 £ 24,158 5,692 152,382 7,996 13,991 1,607 205,826 80 2 82 1,560 1,998 3,558 209,466 25,147 15,617 12,702 2,420 715 2,665 59,266 860 1,260 2,120 2,908 64,294 145,172 142,264 |
2024 £ 22,980 5,059 2,000 5,360 13,354 1,199 49,952 59 3 62 2,494 2,540 5,034 55,048 16,321 2,295 12,586 2,200 187 1,300 34,889 860 986 1,846 3,018 39,753 15,295 12,277 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 20
ST MARY DE CASTRO LEICESTER PCC
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| Realised recognised gains and losses Brought forward Realised gains/(losses) on fixed asset investments Net income |
2025 £ 142,264 222 145,394 |
2024 £ 12,277 6 15,301 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 21