**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: - Our church and grounds are well kept and welcoming to all. - 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: - All who desire our pastoral services receive a ministry of care and welcome. - Baptism and confirmation of children and adults involves full preparation, a warm welcome and ongoing care. - Holy Communion is taken to anyone sick at home, in hospital or in rest homes who desires it. - The clergy are notified and parishioners are visited when in hospital or bereaved. - The last rites are administered when appropriate. - 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: - Building stronger links with the student population at De Monfort University, including devising services attractive to students. - Expanding our Open Door Programme and providing training to new and existing volunteer Stewards. - Further work with the website including increasing our presence on social media. - 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. - Continuing to work with Sound Café. - Developing our heritage opportunities in conjunction with both De Montfort University and Leicester Cathedral. - 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. - 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. - 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/. Page 4 **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 - 27 March - 25 April - 19 June - 4 September - 4 December MEETINGS OF THE STANDING COMMITTEE IN 2025 - 3 March - 19 May - 1 August - 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: - Careful monitoring at every meeting of the financial performance of the PCC via high quality control and reporting by the Treasurer. - A variety of discussions relating to heritage including the Heritage Sundays programme. - 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. - Consideration of issues raised at meetings of the Deanery Synod as reported to the PCC by our two representatives. - - 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. - Focus on the clergy rota and the excellent support of all members of the College of Priests. - Regular updates on all aspects of the Open Door programme. - Discussion of the Social Media reports which show the high quality and immensely valuable work of the Social Media Officer. - Detailed discussion of the Minster Communities proposals. - The arrangements for the Annual Parochial Church meeting. - Consideration of the church bookings. - 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. - Discussion of the faculty for the John Bence memorial plaque and the plans to dedicate the plaque after the faculty was secured. - Consideration of qualifications and courses for PCC members. - Updating of the Parish Handbook and the Church guide books. - 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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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... Page 11 **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... Page 12 **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