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2024-12-31-accounts

ST MARGARET’S HORSMONDEN PAROCHIAL CHURCH COUNCIL

Trustees’ Report and Accounts for the Year Ended 31 December 2024

ST MARGARET'S HORSMONDEN PCC

Report of the PCC for the year ended 31 December 2024

Status and Administration

St Margaret's Horsmonden Parochial Church Council was registered with the Charity Commission in England & Wales during 2020 under charity registration number 1188677, in accordance with the Parochial Church Council Powers Measure (1956), as amended, and the Church Representation Rules that came into effect on 2 January 1956.

Charitable Objects

Promoting, in the Ecclesiastical Parish of Horsmonden, the whole mission of the Church.

Officers & Key Management Personnel

MEMBERS OF THE PAROCHIAL CHURCH COUNCIL DURING 2024

Roger Marsh, ex officio, Churchwarden, Lay Chair, re-elected 24 April 2024

Pat Morkane, ex officio, Churchwarden, re-elected 24 April 2024 Bob Norton Deputy Churchwarden, re-elected 24 April 2024 Dave Bell (co-opted 28 April 2024) Sue Huzzey (re-elected 24 April 2024) Angie Jenkins (resigned March 2024) Sara Kovach Clark (resigned March 2024) Nikki McVeagh (re-elected 24 April 2024) Diane Springett (elected 24 Aril 2024)

REPRESENTATIVES ON THE DEANERY SYNOD

Sara Kovac Clark (resigned March 2024)

Sue Huzzey (previously co-opted, elected 24 April 2024)

OTHER PERSONNEL SUPPORTING THE PCC

Treasurer: Steve Jones Bookkeeper: Gerry Hughes Gift Aid Secretary: Janet Norton Parish Administrator: Miranda Hungerford Parish Safeguarding Officer: Miranda Hungerford Electoral Roll Officer: Janet Norton PCC Minutes Secretary: Jan Cobley Independent Examiner of the Accounts: Martin Cobley

QUINQUENNIAL INSPECTOR AND BUILDING CONSULTANT

Thomas Ford & Partners Ltd.

Trustees' Statement

The PCC held 10 regular meetings during the year, with average attendance of 85%. It also passed two resolutions by email circulation and one WhatsApp resolution (to co-opt Dave Bell onto the PCC).

The Annual Parochial Church meeting was held on 24 April 2024.

The PCC held a meeting with parishioners on 7 April to discuss options for an incumbent.

1

During the course of the year, an updated Parish Profile was produced, structured to introduce potentially interested applicants to Horsmonden and, more particularly, to St Margaret’s.

Word of mouth as well as advertising are used to try to find candidates, albeit the final approval can only be given by our Bishop. Despite best efforts, the year closed without any success in the process, so another advertisement has been produced and is being placed in appropriate publications in early 2025.

Patterns of Worship

The time of the Sunday service at St Margaret’s was changed from 9.30 to 10.00 am in February and the Informal Service was renamed “Worship for All.

The pattern of services since then has been

1st Sunday 10 am Holy Communion, Book of Common Prayer 2nd Sunday 10 am Worship for All 3rd Sunday 10 am Holy Communion, Common Worship 4th Sunday 10 am Informal Service

Joint Cluster Services are held on 5th Sundays, rotating round the four parishes of the cluster.

We held a joint service with the Methodists in the marquee on the village green as part of the village Summer Festival.

On Good Friday, the Bishop of Rochester led a joint service with the Methodists and the other churches in the cluster on the Village Green.

A special service on 6 April remembering those who have departed – “Time to Remember” – was combined with the rededication of the refurbished Garden of Remembrance.

On Remembrance Sunday, a joint service with the Methodists, led by the Area Dean was held at the Village War Memorial.

Christmas services included the annual Carol Service on 22 December, a Nativity Service and Midnight Communion on Christmas Eve, and a morning service on Christmas Day.

All services in the church are streamed live on a dedicated YouTube channel.

In addition to formal worship, the informal monthly “Well@5” has been held in the Social Club and a monthly “Prayer and Praise” meeting in the church hall.

During the year there were five weddings, one baptism, four funerals, five burials of ashes and a further two funerals at the crematorium.

Pastoral Support

Pastoral support is provided through informal networks, including not only personal contacts and visits, but also the much frequented “St M’s C” WhatsApp Group. Three Home Groups meet fortnightly in people’s homes for bible study and prayer, and a twice a month Coffee Morning is held in the Social Club.

Youth and Children’s Ministry

Playtime – a gathering of toddlers with their parents, grandparents, carers and minders – is held in the church hall on Thursdays in term-time and continues to be successful and much-appreciated. Woodland Connect for young people is held on the first Sunday of the month in the woods off Haymans Hill (or in the church hall when wet). A Youth Club was started in 2024 with some initial support from the YMCA and has proved very popular.

2

Buildings & Churchyard

The major project to build an extension with kitchen and toilets and to create an inner glass porch to the west door began in late 2023 and was completed during 2024. A special opening tea party was held on 13 October to mark its conclusion.

The additional storage within the church has allowed some decluttering of the interior, in particular the refurbishment of the St Peter ad Vincula Chapel which can now be used for prayer ministry.

The Garden of Remembrance was refurbished with support from villagers and was rededicated at a special service on 6 April.

Besides regular general maintenance of the building, the roof requires some attention to prevent a leak that arises when there is particularly heavy rain and the wind is in a certain quarter.

The Churchwardens confirm that, otherwise, the internal fabric of the church, the fixtures and fittings and the physical assets, including the silver, are in good order and remain safe and sound.

Financial Review

2024 was a very busy and complex year financially, despite St Margaret’s spending the whole year in vacancy. The two key areas of activity related to the general fund, which covers the income and expenditure requirements for maintaining ongoing activities, churchyard and building maintenance; and the major financial commitment for the toilet and kitchen building project.

General Fund

Income

Most notable with regard to income has been the reduction in Direct Giving (those donating via standing order). In 2023 income was £54,848 but this reduced by 14% in 2024 to £47,448. It is anticipated that giving will reduce further in 2025 to £41,000, a further 11% reduction from 2023 levels. There has been a corresponding reduction in the level of tax recovered through GiftAid.

During the year, funds flowing through bank accounts exceeded £100,000 so we started to incur bank charges. To offset this, reserve funds of £40,000 were invested in an interest bearing liquidity manager 35 day notice account: the interest of £1,195 (note 2c) has been more than sufficient to cover bank charges and generate some income.

Income from weddings and funerals in 2024 was £3,852, down from £6,237 in 2023. During an interregnum, however, the PCC retains the Diocesan share of fees, which are held in a Sequestration account and used to pay Clergy who have taken services. The retained fees have proved adequate to meet these costs.

Expenditure

The PCC decided that, for 2024, the Parish Offer paid to the Diocese would cover the regular parish contribution to meet Diocesan costs, plus an amount for a House for Duty incumbent. The total was £14,745 less than our 2023 offer when, for half the year, we had 40% of a full time equivalent vicar.

Whilst the Rectory remains empty, there is an exemption from Council Tax. This applied from 1 November 2023 and a refund, plus interest, of £3,504.20 was received from TWBC in November 2024. It should be noted that part of this refund related to 2023.

Towards the end of 2023 the PCC decided to retain the services of an Informal Worship Leader for 2.5 days a week, at a cost of £12,539 per annum, to provide much needed support for services and other church activities in the absence of clergy in the parish. The Wardens agreed that the portion of the cost attributable to children’s ministry should be met from the Chun Fund, an endowment fund established for this purpose which they control. The amount of £2,160 was paid in early 2025 and is included under Debtors in the accounts. These arrangements will be reviewed on the appointment of a new incumbent.

3

Building Project

The building of the toilet and kitchen extension, a path between the north and west doors, an internal glazed porch to the west door and cupboards in the base of the tower, was finished towards the end of 2024.

This has been a complex and challenging project with a lot of effort required to monitor the work and invoicing, and to ensure there were sufficient funds to pay invoices as they fell due.

The final account showed a price of £338,297.68 plus VAT, the majority of which has now been paid along with a further £59,872 plus VAT of professional and other fees. During 2024, ten claims were submitted to the Listed Places of Worship grant scheme, to recover 90.9% of the VAT charged. The ineligible 9.1% of the VAT amounted to £7,246.67 making a total project cost of £405,416.35.

Following final inspections and practical completion, final accounts were provided by our Architects in early 2025 and half of the 5% retention fee payable at that point became due. As at the beginning of 2025, there was sufficient in the Restricted Buildings Fund to cover final invoices and this half of the retention fee. The other half – a further c£8,500 – will be due in early 2026.

The funding for the project has come from a number of sources including personal donations, plus GiftAid where available, grants from a number of funds, and fundraising events. It has been a huge effort involving the whole community of Horsmonden and with the help of external grants, so I wish to record my thanks to those involved in making what had been a dream for decades become a reality.

Steve Jones Treasurer

Approved by the Parochial Church Council on 15 April 2025 and signed on its behalf by

Roger Marsh, Churchwarden and Lay Chair, St Margaret’s Horsmonden Parochial Church Council

4

ST MARGARET'S HORSMONDEN PAROCHIAL CHURCH COUNCIL

ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2024

PAROCHIAL CHURCH OF ST MARGARET'S HORSMONDEN

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024

TOTAL TOTAL
Unrestricted Designated Restricted FUNDS FUNDS
Notes Funds Funds Funds 2024 2023
£ £ £ £ £
INCOME
Voluntary income 2a 69,665 0 164,541 234,206 151,025
Activities for generating funds 2b 627 0 13,664 14,291 9,617
Deposit interest 2c 1,195 155 843 2,193 146
Church activities 2d 4,840 3,479 2,560 10,879 13,325
Other income 2e 194 0 0 194 0
Total Income 76,521 3,634 181,609 261,764 174,113
EXPENDITURE
Church activities 3a 62,453 3,933 423,407 489,793 184,809
Raising funds 3b 100 0 622 722 695
Total Expenditure 62,553 3,933 424,029 490,515 185,505
Net income/(expenditure) 13,968 (299) (242,420) (228,751) (11,391)
Transfers between funds (5,925) (3,551) 9,477 0 0
Net movement in funds 8,042 (3,851) (232,943) (228,751) (11,391)
Total funds b/fwd at 1 January 2024 67,544 84,041 244,915 396,500 407,891
Total funds c/fwd at 31 December 2024 75,587 80,190 11,972 167,749 396,500

1

PAROCHIAL CHURCH OF ST MARGARET'S HORSMONDEN

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2023 for comparative purposes

TOTAL
Unrestricted Designated Restricted FUNDS
Notes Funds Funds Funds 2023
£ £ £ £
INCOME
Voluntary income 2a 78,316 0 72,709 151,025
Activities for generating funds 2b 552 0 9,065 9,617
Deposit interest 2c 0 146 0 146
Church activities 2d 7,520 4,884 921 13,325
Other income 2e 0 0 0 0
Total Income 86,388 5,030 82,695 174,113
EXPENDITURE
Church activities 3a 79,811 7,346 97,653 184,809
Raising funds 3b 0 0 695 695
Total Expenditure 79,811 7,346 98,348 185,505
Net income/(expenditure) 6,578 (2,315) (15,652) (11,391)
Transfers between funds (5,747) 5,600 147
Net movement in funds 831 3,285 (15,505) (11,391)
Total funds b/fwd at 1 January 2023 66,714 80,756 260,422 407,891
Total funds c/fwd at 31 December 2023 67,544 84,041 244,915 396,500

2

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

BALANCE SHEET as at 31 December 2024

Notes
FIXED ASSETS
Tangible fixed assets
5
Total Fixed Assets
CURRENT ASSETS
Debtors
7
Short term deposits
Cash at bank and in hand
Total Current Assets
LIABILITIES
Creditors-amounts falling due within 1 year
8a
NET ASSETS
PARISH FUNDS
Unrestricted
9, 10
Designated
9, 10
Other Restricted Funds
9, 10
TOTAL FUNDS
13,857
45,270
33,632
2024
2023
£
£
75,000
75,000
75,000
75,000

3,265

7,471

310,774
92,759
321,510
(10)
(10)
167,749
396,500
75,587
67,544
80,190
84,041
11,972
244,915
167,749
396,500

Approved by the Parochial Church Council on 15 April 2025 and signed on its behalf by

Roger Marsh, Churchwarden and Lay Chair, St Margaret’s Horsmonden Parochial Church Coun

3

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024

1 ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the current Church Accounting Regulations and comply with the current Charities SORP and applicable accounting standard FRS 102.

a INCOME

Recognition of Income

This is included in the Statement of Financial Activities (SOFA) when the PCC becomes legally entitled to the benefit of use of the income, the benefit is quantifiable and probable.

Fundraising costs

Funds raised from events (eg Christmas Fair, theatre and musical events) are reported gross in the SOFA ie before any related costs have been deducted from the gross proceeds.

Grants and donations

These 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.

Gift Aid Tax claims etc on cash donations

These are in included in the SOFA at the same time as the cash donations to which they relate.

Volunteer help

The value of any voluntary help received is not included in the Accounts but is described in the Trustees' Annual Report.

Church hall rental

This is recognised when received.

Investment income

The interest entitlement on the church repair fund and any interest-bearing bank accounts is recognised when received.

b EXPENDITURE AND LIABILITIES

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable.

Grants

These are recognised in the accounts when a commitment has been made externally and there are no preconditions still to be met for entitlement to the grant that remain within the control of the PCC.

c ASSETS

Consecrated and benefice property

In so far as consecrated and benefice property of any kind is excluded from the statutory definition of 'charity' by Section 10(2) (a) and (c) of the Charities Act 2011, such assets are not capitalised in the financial statements.

Moveable church furnishings

These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case, the item is not capitalised but all items are included in the church's inventory in any case.

4

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

ASSETS (continued)

Depreciation

No depreciation is provided on the church hall as the currently estimated residual value is not less than its carrying value and the remaining useful life of the hall currently exceeds 50 years, so that any depreciation charge would be immaterial. An impairment review is carried out each year end and any resultant loss identified included in the expenditure for that year. There were no items in 2024 subect to depreciation.

Short term deposits

Include cash held on deposit with the CCLA Church of England Funds.

d FUNDS

Unrestricted funds

These include the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and that are therefore not included in its 'free reserves' as disclosed in the trustees' report.

Designated funds

Designated funds are funds that are earmarked by the PCC for a particular purpose, but can be redesignated and returned to general funds

Restricted funds

These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.

5

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

2
INCOME
a
Voluntary Income
Direct giving
Income tax recoverable
Other donations
Collections at all services
Grants
Legacies
b
Activities for Generating Funds
Fundraising
c
Investment Income
Deposit interest
d
Income from Church Activities
Church hall lettings
Weddings, funerals and memorial fees
Parish News
e
Other Incoming Resources
Miscellaneous
TOTAL INCOME
TOTAL
TOTAL
Unrestricted
Designated
Restricted
FUNDS
Unrestricted
Designated
Restricted
FUNDS
Funds
Funds
Funds
2024
Funds
Funds
Funds
2023
£
£
£
£
£
£
£
£
47,448
2,140
49,588
54,848
54,848
13,016
7,795
20,811
14,697
2,198
16,894
3,813
34,599
38,412
5,294
15,068
20,361
4,388
4,388
3,478
3,478
120,007
120,007
55,244
55,244
1,000
1,000
200
200
69,665
0
164,541
234,206
78,316
0
72,709
151,025
627
0
13,664
14,291
552
0
9,065
9,617
1,195
155
843
2,193
0
146
0
146
988
988
1,283
1,283
3,852
2,560
6,412
6,237
921
7,158
3,479
3,479
4,884
4,884
4,840
3,479
2,560
10,879
7,520
4,884
921
13,325
194
0
0
194
0
0
0
0
76,521
3,634
181,609
261,764
86,388
5,030
82,695
174,113

6

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

3 EXPENDITURE

a
Church activities
Missionary and charitable giving:
Ministry:
Parish Offer
Rector expenses
Rectory council tax/utilities
Other ministry
Church Running Expenses:
Utilities
Insurance
Repairs and maintenance
Churchyard maintenance
Toilet hire
Upkeep of services
Parish administrator (see Note 4)
General administration
Church Hall Running Expenses:
Utilities
Repairs and maintenance
Other expenditure:
Parish News
Outreach
Refreshments
Miscellaneous
b
Raising funds
Fundraising Costs
TOTAL EXPENDITURE
TOTAL
TOTAL
Unrestricted
Designated
Restricted
FUNDS
Unrestricted
Designated
Restricted
FUNDS
Funds
Funds
Funds
2024
Funds
Funds
Funds
2023
£
£
£
£
£
£
£
£
0
0
720
720
24,150
24,150
38,895
38,895
0
784
784
(365)
795
430
3,612
3,612
12,539
1,317
13,856
2,439
42
2,481
1,543
1,543
1,215
1,215
5,278
5,278
5,193
5,193
3,315
420,034
423,349
10,243
87,593
97,836
4,500
1,200
5,700
4,632
8,871
13,502
0
0
132
132
2,975
2,975
2,167
2,167
5,040
5,040
6,788
6,788
2,190
61
2,251
1,662
1,662
765
765
420
420
18
18
107
107
0
0
35
3,933
3,968
7,346
7,346
287
287
433
433
182
182
335
335
0
34
1,147
1,181
62,453
3,933
423,407
489,793
79,811
7,346
97,653
184,809
100
0
622
722
0
0
695
695
62,553
3,933
424,029
490,515
79,811
7,346
98,348
185,505

7

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

4 STAFF COSTS
a Wages and Salaries TOTAL TOTAL
FUNDS FUNDS
2024 2023
£ £
Parish Administrator 0 0

The PCC shares a part-time administrator with Lamberhurst PCC, who are the employer and make all the PAYE deductions required.

b Payments to PCC Members No payments, other than reimbursement of expenses, were made to members of the PCC.

The total of donations made to the PCC by PCC members during 2024 was £56,730 (2023 £39,706).

5 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Valuation
Net book amounts
at 31 December 2024
Freehold Land
and Buildings
£
75,000
75,000
75,000
75,000

The freehold land and buildings comprise the Church Hall and the value represents the valuation by Smiths Gore in November 2013. This is now treated as the deemed cost.

6 INVESTMENTS

The PCC does not currently hold any investment assets.

8

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

7
CURRENT ASSETS
Debtors
Income tax recoverable
Chun Fund Donation
8
LIABILITIES
a
Creditors
Amounts falling due within one year:
General Creditors
9
FUNDS
Analysis of Net Assets by Fund
Fixed assets for church use
Current assets
Current liabilities
Long term liabilities
TOTAL
TOTAL
Unrestricted
Designated
Restricted
FUNDS
Unrestricted
Designated
Restricted
FUNDS
Funds
Funds
Funds
2024
Funds
Funds
Funds
2023
£
£
£
£
£
£
£
£
9,044
2,653
11,697
3,114
75
3,189
2,160
2,160
76
76
11,204
0
2,653
13,857
3,114
76
75
3,265
10
10
10
10
0
0
10
10
0
0
10
10
75,000
75,000
75,000
75,000
75,587
5,190
11,982
92,759
67,544
9,041
244,925
321,510
(10)
(10)
(10)
(10)
75,587
80,190
11,972
167,749
67,544
84,041
244,915
396,500

9

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

10 STATEMENT OF FUNDS

Unrestricted Funds
General Fund
Designated Funds
Fabric Fund
Church Hall Property Fund
Parish News
Restricted Funds
Church Building Fund
Garden of Remembrance
Sequestration Account
Woodland/HYA
Total Funds
Balance
Transfers,
Balance
b/fwd
other gains
c/fwd
1 Jan 2024
Income
Expenditure
and losses
31 Dec 2024
£
£
£
£
£
67,544
76,521
(62,553)
(5,925)
75,587
67,544
76,521
(62,553)
(5,925)
75,587
7,471
155
0
(3,551)
4,075
75,000
0
0
0
75,000
1,569
3,479
(3,933)
0
1,116
84,041
3,634
(3,933)
(3,551)
80,190
245,406
176,956
(421,917)
9,151
9,596
(1,918)
1,593
0
325
0
(268)
2,560
(2,112)
0
180
1,696
500
0
0
2,196
244,915
181,609
(424,029)
9,477
11,972
396,500
261,764
(490,515)
0
167,749

Restricted Funds

They comprise:

(a) Church Building Fund for monies received towards the maintenance, upkeep, refurbishmant or development of the property in accordance with the terms specified by donors.

(b) Garden of Remembrance Fund for monies received towards this project and was closed following a transfer from General Funds in 2024.

(c) Sequestration Account - set-up to record eligible income (DBF element of Statutory Fees) and expenditure (Service fees, standing charges for Vicarage Utilities) for the period of interregnum.

(d) Woodland/HYA Fund for monies received towards these activities.

Reserves Policy

It is PCC policy to maintain a balance on liquid unrestricted funds (if possible) which equates to approximately 3 months' unrestricted payments, to cover emergency situations. The current balance on 'liquid' unrestricted funds at the year end equates to approximately 15 months' of unrestricted payments.

10

ST MARGARET’S HORSMONDEN PAROCHIAL CHURCH COUNCIL

Trustees’ Report and Accounts for the Year Ended 31 December 2024

ST MARGARET'S HORSMONDEN PCC

Report of the PCC for the year ended 31 December 2024

Status and Administration

St Margaret's Horsmonden Parochial Church Council was registered with the Charity Commission in England & Wales during 2020 under charity registration number 1188677, in accordance with the Parochial Church Council Powers Measure (1956), as amended, and the Church Representation Rules that came into effect on 2 January 1956.

Charitable Objects

Promoting, in the Ecclesiastical Parish of Horsmonden, the whole mission of the Church.

Officers & Key Management Personnel

MEMBERS OF THE PAROCHIAL CHURCH COUNCIL DURING 2024

Roger Marsh, ex officio, Churchwarden, Lay Chair, re-elected 24 April 2024

Pat Morkane, ex officio, Churchwarden, re-elected 24 April 2024 Bob Norton Deputy Churchwarden, re-elected 24 April 2024 Dave Bell (co-opted 28 April 2024) Sue Huzzey (re-elected 24 April 2024) Angie Jenkins (resigned March 2024) Sara Kovach Clark (resigned March 2024) Nikki McVeagh (re-elected 24 April 2024) Diane Springett (elected 24 Aril 2024)

REPRESENTATIVES ON THE DEANERY SYNOD

Sara Kovac Clark (resigned March 2024)

Sue Huzzey (previously co-opted, elected 24 April 2024)

OTHER PERSONNEL SUPPORTING THE PCC

Treasurer: Steve Jones Bookkeeper: Gerry Hughes Gift Aid Secretary: Janet Norton Parish Administrator: Miranda Hungerford Parish Safeguarding Officer: Miranda Hungerford Electoral Roll Officer: Janet Norton PCC Minutes Secretary: Jan Cobley Independent Examiner of the Accounts: Martin Cobley

QUINQUENNIAL INSPECTOR AND BUILDING CONSULTANT

Thomas Ford & Partners Ltd.

Trustees' Statement

The PCC held 10 regular meetings during the year, with average attendance of 85%. It also passed two resolutions by email circulation and one WhatsApp resolution (to co-opt Dave Bell onto the PCC).

The Annual Parochial Church meeting was held on 24 April 2024.

The PCC held a meeting with parishioners on 7 April to discuss options for an incumbent.

1

During the course of the year, an updated Parish Profile was produced, structured to introduce potentially interested applicants to Horsmonden and, more particularly, to St Margaret’s.

Word of mouth as well as advertising are used to try to find candidates, albeit the final approval can only be given by our Bishop. Despite best efforts, the year closed without any success in the process, so another advertisement has been produced and is being placed in appropriate publications in early 2025.

Patterns of Worship

The time of the Sunday service at St Margaret’s was changed from 9.30 to 10.00 am in February and the Informal Service was renamed “Worship for All.

The pattern of services since then has been

1st Sunday 10 am Holy Communion, Book of Common Prayer 2nd Sunday 10 am Worship for All 3rd Sunday 10 am Holy Communion, Common Worship 4th Sunday 10 am Informal Service

Joint Cluster Services are held on 5th Sundays, rotating round the four parishes of the cluster.

We held a joint service with the Methodists in the marquee on the village green as part of the village Summer Festival.

On Good Friday, the Bishop of Rochester led a joint service with the Methodists and the other churches in the cluster on the Village Green.

A special service on 6 April remembering those who have departed – “Time to Remember” – was combined with the rededication of the refurbished Garden of Remembrance.

On Remembrance Sunday, a joint service with the Methodists, led by the Area Dean was held at the Village War Memorial.

Christmas services included the annual Carol Service on 22 December, a Nativity Service and Midnight Communion on Christmas Eve, and a morning service on Christmas Day.

All services in the church are streamed live on a dedicated YouTube channel.

In addition to formal worship, the informal monthly “Well@5” has been held in the Social Club and a monthly “Prayer and Praise” meeting in the church hall.

During the year there were five weddings, one baptism, four funerals, five burials of ashes and a further two funerals at the crematorium.

Pastoral Support

Pastoral support is provided through informal networks, including not only personal contacts and visits, but also the much frequented “St M’s C” WhatsApp Group. Three Home Groups meet fortnightly in people’s homes for bible study and prayer, and a twice a month Coffee Morning is held in the Social Club.

Youth and Children’s Ministry

Playtime – a gathering of toddlers with their parents, grandparents, carers and minders – is held in the church hall on Thursdays in term-time and continues to be successful and much-appreciated. Woodland Connect for young people is held on the first Sunday of the month in the woods off Haymans Hill (or in the church hall when wet). A Youth Club was started in 2024 with some initial support from the YMCA and has proved very popular.

2

Buildings & Churchyard

The major project to build an extension with kitchen and toilets and to create an inner glass porch to the west door began in late 2023 and was completed during 2024. A special opening tea party was held on 13 October to mark its conclusion.

The additional storage within the church has allowed some decluttering of the interior, in particular the refurbishment of the St Peter ad Vincula Chapel which can now be used for prayer ministry.

The Garden of Remembrance was refurbished with support from villagers and was rededicated at a special service on 6 April.

Besides regular general maintenance of the building, the roof requires some attention to prevent a leak that arises when there is particularly heavy rain and the wind is in a certain quarter.

The Churchwardens confirm that, otherwise, the internal fabric of the church, the fixtures and fittings and the physical assets, including the silver, are in good order and remain safe and sound.

Financial Review

2024 was a very busy and complex year financially, despite St Margaret’s spending the whole year in vacancy. The two key areas of activity related to the general fund, which covers the income and expenditure requirements for maintaining ongoing activities, churchyard and building maintenance; and the major financial commitment for the toilet and kitchen building project.

General Fund

Income

Most notable with regard to income has been the reduction in Direct Giving (those donating via standing order). In 2023 income was £54,848 but this reduced by 14% in 2024 to £47,448. It is anticipated that giving will reduce further in 2025 to £41,000, a further 11% reduction from 2023 levels. There has been a corresponding reduction in the level of tax recovered through GiftAid.

During the year, funds flowing through bank accounts exceeded £100,000 so we started to incur bank charges. To offset this, reserve funds of £40,000 were invested in an interest bearing liquidity manager 35 day notice account: the interest of £1,195 (note 2c) has been more than sufficient to cover bank charges and generate some income.

Income from weddings and funerals in 2024 was £3,852, down from £6,237 in 2023. During an interregnum, however, the PCC retains the Diocesan share of fees, which are held in a Sequestration account and used to pay Clergy who have taken services. The retained fees have proved adequate to meet these costs.

Expenditure

The PCC decided that, for 2024, the Parish Offer paid to the Diocese would cover the regular parish contribution to meet Diocesan costs, plus an amount for a House for Duty incumbent. The total was £14,745 less than our 2023 offer when, for half the year, we had 40% of a full time equivalent vicar.

Whilst the Rectory remains empty, there is an exemption from Council Tax. This applied from 1 November 2023 and a refund, plus interest, of £3,504.20 was received from TWBC in November 2024. It should be noted that part of this refund related to 2023.

Towards the end of 2023 the PCC decided to retain the services of an Informal Worship Leader for 2.5 days a week, at a cost of £12,539 per annum, to provide much needed support for services and other church activities in the absence of clergy in the parish. The Wardens agreed that the portion of the cost attributable to children’s ministry should be met from the Chun Fund, an endowment fund established for this purpose which they control. The amount of £2,160 was paid in early 2025 and is included under Debtors in the accounts. These arrangements will be reviewed on the appointment of a new incumbent.

3

Building Project

The building of the toilet and kitchen extension, a path between the north and west doors, an internal glazed porch to the west door and cupboards in the base of the tower, was finished towards the end of 2024.

This has been a complex and challenging project with a lot of effort required to monitor the work and invoicing, and to ensure there were sufficient funds to pay invoices as they fell due.

The final account showed a price of £338,297.68 plus VAT, the majority of which has now been paid along with a further £59,872 plus VAT of professional and other fees. During 2024, ten claims were submitted to the Listed Places of Worship grant scheme, to recover 90.9% of the VAT charged. The ineligible 9.1% of the VAT amounted to £7,246.67 making a total project cost of £405,416.35.

Following final inspections and practical completion, final accounts were provided by our Architects in early 2025 and half of the 5% retention fee payable at that point became due. As at the beginning of 2025, there was sufficient in the Restricted Buildings Fund to cover final invoices and this half of the retention fee. The other half – a further c£8,500 – will be due in early 2026.

The funding for the project has come from a number of sources including personal donations, plus GiftAid where available, grants from a number of funds, and fundraising events. It has been a huge effort involving the whole community of Horsmonden and with the help of external grants, so I wish to record my thanks to those involved in making what had been a dream for decades become a reality.

Steve Jones Treasurer

Approved by the Parochial Church Council on 15 April 2025 and signed on its behalf by

Roger Marsh, Churchwarden and Lay Chair, St Margaret’s Horsmonden Parochial Church Council

4

ST MARGARET'S HORSMONDEN PAROCHIAL CHURCH COUNCIL

ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2024

PAROCHIAL CHURCH OF ST MARGARET'S HORSMONDEN

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024

TOTAL TOTAL
Unrestricted Designated Restricted FUNDS FUNDS
Notes Funds Funds Funds 2024 2023
£ £ £ £ £
INCOME
Voluntary income 2a 69,665 0 164,541 234,206 151,025
Activities for generating funds 2b 627 0 13,664 14,291 9,617
Deposit interest 2c 1,195 155 843 2,193 146
Church activities 2d 4,840 3,479 2,560 10,879 13,325
Other income 2e 194 0 0 194 0
Total Income 76,521 3,634 181,609 261,764 174,113
EXPENDITURE
Church activities 3a 62,453 3,933 423,407 489,793 184,809
Raising funds 3b 100 0 622 722 695
Total Expenditure 62,553 3,933 424,029 490,515 185,505
Net income/(expenditure) 13,968 (299) (242,420) (228,751) (11,391)
Transfers between funds (5,925) (3,551) 9,477 0 0
Net movement in funds 8,042 (3,851) (232,943) (228,751) (11,391)
Total funds b/fwd at 1 January 2024 67,544 84,041 244,915 396,500 407,891
Total funds c/fwd at 31 December 2024 75,587 80,190 11,972 167,749 396,500

1

PAROCHIAL CHURCH OF ST MARGARET'S HORSMONDEN

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2023 for comparative purposes

TOTAL
Unrestricted Designated Restricted FUNDS
Notes Funds Funds Funds 2023
£ £ £ £
INCOME
Voluntary income 2a 78,316 0 72,709 151,025
Activities for generating funds 2b 552 0 9,065 9,617
Deposit interest 2c 0 146 0 146
Church activities 2d 7,520 4,884 921 13,325
Other income 2e 0 0 0 0
Total Income 86,388 5,030 82,695 174,113
EXPENDITURE
Church activities 3a 79,811 7,346 97,653 184,809
Raising funds 3b 0 0 695 695
Total Expenditure 79,811 7,346 98,348 185,505
Net income/(expenditure) 6,578 (2,315) (15,652) (11,391)
Transfers between funds (5,747) 5,600 147
Net movement in funds 831 3,285 (15,505) (11,391)
Total funds b/fwd at 1 January 2023 66,714 80,756 260,422 407,891
Total funds c/fwd at 31 December 2023 67,544 84,041 244,915 396,500

2

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

BALANCE SHEET as at 31 December 2024

Notes
FIXED ASSETS
Tangible fixed assets
5
Total Fixed Assets
CURRENT ASSETS
Debtors
7
Short term deposits
Cash at bank and in hand
Total Current Assets
LIABILITIES
Creditors-amounts falling due within 1 year
8a
NET ASSETS
PARISH FUNDS
Unrestricted
9, 10
Designated
9, 10
Other Restricted Funds
9, 10
TOTAL FUNDS
13,857
45,270
33,632
2024
2023
£
£
75,000
75,000
75,000
75,000

3,265

7,471

310,774
92,759
321,510
(10)
(10)
167,749
396,500
75,587
67,544
80,190
84,041
11,972
244,915
167,749
396,500

Approved by the Parochial Church Council on 15 April 2025 and signed on its behalf by

Roger Marsh, Churchwarden and Lay Chair, St Margaret’s Horsmonden Parochial Church Coun

3

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024

1 ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the current Church Accounting Regulations and comply with the current Charities SORP and applicable accounting standard FRS 102.

a INCOME

Recognition of Income

This is included in the Statement of Financial Activities (SOFA) when the PCC becomes legally entitled to the benefit of use of the income, the benefit is quantifiable and probable.

Fundraising costs

Funds raised from events (eg Christmas Fair, theatre and musical events) are reported gross in the SOFA ie before any related costs have been deducted from the gross proceeds.

Grants and donations

These 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.

Gift Aid Tax claims etc on cash donations

These are in included in the SOFA at the same time as the cash donations to which they relate.

Volunteer help

The value of any voluntary help received is not included in the Accounts but is described in the Trustees' Annual Report.

Church hall rental

This is recognised when received.

Investment income

The interest entitlement on the church repair fund and any interest-bearing bank accounts is recognised when received.

b EXPENDITURE AND LIABILITIES

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable.

Grants

These are recognised in the accounts when a commitment has been made externally and there are no preconditions still to be met for entitlement to the grant that remain within the control of the PCC.

c ASSETS

Consecrated and benefice property

In so far as consecrated and benefice property of any kind is excluded from the statutory definition of 'charity' by Section 10(2) (a) and (c) of the Charities Act 2011, such assets are not capitalised in the financial statements.

Moveable church furnishings

These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case, the item is not capitalised but all items are included in the church's inventory in any case.

4

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

ASSETS (continued)

Depreciation

No depreciation is provided on the church hall as the currently estimated residual value is not less than its carrying value and the remaining useful life of the hall currently exceeds 50 years, so that any depreciation charge would be immaterial. An impairment review is carried out each year end and any resultant loss identified included in the expenditure for that year. There were no items in 2024 subect to depreciation.

Short term deposits

Include cash held on deposit with the CCLA Church of England Funds.

d FUNDS

Unrestricted funds

These include the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and that are therefore not included in its 'free reserves' as disclosed in the trustees' report.

Designated funds

Designated funds are funds that are earmarked by the PCC for a particular purpose, but can be redesignated and returned to general funds

Restricted funds

These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.

5

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

2
INCOME
a
Voluntary Income
Direct giving
Income tax recoverable
Other donations
Collections at all services
Grants
Legacies
b
Activities for Generating Funds
Fundraising
c
Investment Income
Deposit interest
d
Income from Church Activities
Church hall lettings
Weddings, funerals and memorial fees
Parish News
e
Other Incoming Resources
Miscellaneous
TOTAL INCOME
TOTAL
TOTAL
Unrestricted
Designated
Restricted
FUNDS
Unrestricted
Designated
Restricted
FUNDS
Funds
Funds
Funds
2024
Funds
Funds
Funds
2023
£
£
£
£
£
£
£
£
47,448
2,140
49,588
54,848
54,848
13,016
7,795
20,811
14,697
2,198
16,894
3,813
34,599
38,412
5,294
15,068
20,361
4,388
4,388
3,478
3,478
120,007
120,007
55,244
55,244
1,000
1,000
200
200
69,665
0
164,541
234,206
78,316
0
72,709
151,025
627
0
13,664
14,291
552
0
9,065
9,617
1,195
155
843
2,193
0
146
0
146
988
988
1,283
1,283
3,852
2,560
6,412
6,237
921
7,158
3,479
3,479
4,884
4,884
4,840
3,479
2,560
10,879
7,520
4,884
921
13,325
194
0
0
194
0
0
0
0
76,521
3,634
181,609
261,764
86,388
5,030
82,695
174,113

6

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

3 EXPENDITURE

a
Church activities
Missionary and charitable giving:
Ministry:
Parish Offer
Rector expenses
Rectory council tax/utilities
Other ministry
Church Running Expenses:
Utilities
Insurance
Repairs and maintenance
Churchyard maintenance
Toilet hire
Upkeep of services
Parish administrator (see Note 4)
General administration
Church Hall Running Expenses:
Utilities
Repairs and maintenance
Other expenditure:
Parish News
Outreach
Refreshments
Miscellaneous
b
Raising funds
Fundraising Costs
TOTAL EXPENDITURE
TOTAL
TOTAL
Unrestricted
Designated
Restricted
FUNDS
Unrestricted
Designated
Restricted
FUNDS
Funds
Funds
Funds
2024
Funds
Funds
Funds
2023
£
£
£
£
£
£
£
£
0
0
720
720
24,150
24,150
38,895
38,895
0
784
784
(365)
795
430
3,612
3,612
12,539
1,317
13,856
2,439
42
2,481
1,543
1,543
1,215
1,215
5,278
5,278
5,193
5,193
3,315
420,034
423,349
10,243
87,593
97,836
4,500
1,200
5,700
4,632
8,871
13,502
0
0
132
132
2,975
2,975
2,167
2,167
5,040
5,040
6,788
6,788
2,190
61
2,251
1,662
1,662
765
765
420
420
18
18
107
107
0
0
35
3,933
3,968
7,346
7,346
287
287
433
433
182
182
335
335
0
34
1,147
1,181
62,453
3,933
423,407
489,793
79,811
7,346
97,653
184,809
100
0
622
722
0
0
695
695
62,553
3,933
424,029
490,515
79,811
7,346
98,348
185,505

7

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

4 STAFF COSTS
a Wages and Salaries TOTAL TOTAL
FUNDS FUNDS
2024 2023
£ £
Parish Administrator 0 0

The PCC shares a part-time administrator with Lamberhurst PCC, who are the employer and make all the PAYE deductions required.

b Payments to PCC Members No payments, other than reimbursement of expenses, were made to members of the PCC.

The total of donations made to the PCC by PCC members during 2024 was £56,730 (2023 £39,706).

5 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Valuation
Net book amounts
at 31 December 2024
Freehold Land
and Buildings
£
75,000
75,000
75,000
75,000

The freehold land and buildings comprise the Church Hall and the value represents the valuation by Smiths Gore in November 2013. This is now treated as the deemed cost.

6 INVESTMENTS

The PCC does not currently hold any investment assets.

8

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

7
CURRENT ASSETS
Debtors
Income tax recoverable
Chun Fund Donation
8
LIABILITIES
a
Creditors
Amounts falling due within one year:
General Creditors
9
FUNDS
Analysis of Net Assets by Fund
Fixed assets for church use
Current assets
Current liabilities
Long term liabilities
TOTAL
TOTAL
Unrestricted
Designated
Restricted
FUNDS
Unrestricted
Designated
Restricted
FUNDS
Funds
Funds
Funds
2024
Funds
Funds
Funds
2023
£
£
£
£
£
£
£
£
9,044
2,653
11,697
3,114
75
3,189
2,160
2,160
76
76
11,204
0
2,653
13,857
3,114
76
75
3,265
10
10
10
10
0
0
10
10
0
0
10
10
75,000
75,000
75,000
75,000
75,587
5,190
11,982
92,759
67,544
9,041
244,925
321,510
(10)
(10)
(10)
(10)
75,587
80,190
11,972
167,749
67,544
84,041
244,915
396,500

9

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S HORSMONDEN

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 (continued)

10 STATEMENT OF FUNDS

Unrestricted Funds
General Fund
Designated Funds
Fabric Fund
Church Hall Property Fund
Parish News
Restricted Funds
Church Building Fund
Garden of Remembrance
Sequestration Account
Woodland/HYA
Total Funds
Balance
Transfers,
Balance
b/fwd
other gains
c/fwd
1 Jan 2024
Income
Expenditure
and losses
31 Dec 2024
£
£
£
£
£
67,544
76,521
(62,553)
(5,925)
75,587
67,544
76,521
(62,553)
(5,925)
75,587
7,471
155
0
(3,551)
4,075
75,000
0
0
0
75,000
1,569
3,479
(3,933)
0
1,116
84,041
3,634
(3,933)
(3,551)
80,190
245,406
176,956
(421,917)
9,151
9,596
(1,918)
1,593
0
325
0
(268)
2,560
(2,112)
0
180
1,696
500
0
0
2,196
244,915
181,609
(424,029)
9,477
11,972
396,500
261,764
(490,515)
0
167,749

Restricted Funds

They comprise:

(a) Church Building Fund for monies received towards the maintenance, upkeep, refurbishmant or development of the property in accordance with the terms specified by donors.

(b) Garden of Remembrance Fund for monies received towards this project and was closed following a transfer from General Funds in 2024.

(c) Sequestration Account - set-up to record eligible income (DBF element of Statutory Fees) and expenditure (Service fees, standing charges for Vicarage Utilities) for the period of interregnum.

(d) Woodland/HYA Fund for monies received towards these activities.

Reserves Policy

It is PCC policy to maintain a balance on liquid unrestricted funds (if possible) which equates to approximately 3 months' unrestricted payments, to cover emergency situations. The current balance on 'liquid' unrestricted funds at the year end equates to approximately 15 months' of unrestricted payments.

10

Evergood Farm House Brick Kiln Lane Horsmonden Kent TN12 8ES

9 April 2025

To St Margaret's PCC

Independent Examiner's Report on the accounts for the year ended 31st December 2024

This report on the accounts for the year ended 31st December 2024 is in respect of my examination carried out in accordance with the Church Accounting Regulations 2006 and the Charities Act 1993.

My examination is not an audit and I express no opinion as to the view of the financial affairs of the PCC shown in the accounts.

I confirm that no matter has come to my attention which gives me reasonable cause to believe that the PCC has not kept accounting records in accordance with its duty under the Charities Act.

Nor am I aware of any matter to which attention should be drawn in order to enable a proper understanding of the accounts.

Yours faithfully

Martin Cobley

Martincobley05@aol.com 07802 304747