Charlty rtyijtratlon nmibBr 11896fj6
PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOUTHSEA
ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
CONTENTS
INJepw)dent èxaminfs feFrfXt
statement offjn#n¢ial aclfvthes
Balance S￿et
10
Nole5 to the finaKial stateM￿ts
11-21

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
PCC MEMBERS REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The memtws of Sl Margaret's ParLthI Church C￿ntil {PCC} wbmit the￿ AnNal Report and the Ilnanri81
stslements for the year erthd 31* December 2024. The ha¥e been wep8red in accwdarTrce wth the
accounting poli¢ies s* in nots 1 to tht a¢coJnts and compty %vith the go¥eff￿n9 re9￿at￿n5. the Chari11Ès Act
2011 and 'AccoLmUro 8fMJ ReForbng by Chaiifies.. Statement of Recommended Practi￿ applicable to C￿rItIeS
preparing Ihew accounts in actordance the Finatk?4 Re￿ti￿ Standard apdicabte in UK and Republ
of Ireland (FRS 102)"18ff4¢tNe 1 JanLWy 2019).
Location
st Margaret'$ Church othlrgss is Hwland Rrod. sou1h￿. Hants P04 90D. Its ba* aX4￿rtts are h8hJ with
Lknyds Bank *, and Cawter Box Lwnibj. Chartgred INJeF￿d0n1IY èxamI￿S ils ￿￿Urts.
Baekground
st Margaret's PCC has T￿l￿nsI￿￿ty kn pr￿bng tht ¢cthsraslical parfsh the Trission of the Churdj..
P8Storal. ￿8¥￿I￿stiC. social and e0Jm￿￿￿I.
Is a corporate body estsblisl48d by the Chur¢h of EnglaTrJ. Thè PCC operates Und￿ thtr Pwochlal Cmffch
Council Pow6rs Measure.
Sl Maryaret's parish falLs WIt￿n th• D*>xse of Portwnouth. Th? pwish n(A¥ makes aft annu￿ Contribuiir￿.11he
parish share.), whith is used to pay dwgy stiwds. to fimd dloc¢6an ￿nis￿)eS that suppJrt fhe parish and for
dTocesan and genoral srn tt)8ts. Tr dK)ctsg w#nts the parish
St MargareY$ PCC FS a c•- regtstration number 189666.
Publle Ben•fft
The PC¢ has ¢￿￿p11&1 with th• duty n thg Chthi8s X111 to regard to wblk benefft guitlance
pubJisl*d by th& Chalty CtynrThsskn.
Memborshlp of thè Chur¢h
The &ectoral Roll for 2024 stLNJd at 61 members. as ierttled by s￿ LY￿5. Elad￿4 RON oirw.
Operation of th• Paro¢hlal Church Coundl
Th9 PCC was ele(atd al Ihe APCM 19th May 2024 wilh 20 m•mbers kn attèndarKe. As thg ele(xofdl rdl
number at the meting 3tood at 61 peopl& there were $￿c*S six Tnernbers to be elec￿ to th• PCC. Four
current mernbèrs ￿tinUed to vararves. One nominab.on vras rec*ived, and they were duly
elect8d. This left va&4ncy. No norination was rEcwved for 4 Deanery Synod reprèsentstiv8. The PCC m$1
five t"m•s dwing the yw.
standing & FSnaneg Commlttg•
Thi¥ ccfflmittee exists by law vthh to transad the tsJsYtes8 oftr* PCC betW8gn me&tin95. h alsts ts)nsldeis
financial needs. linc1￿[1ng pr9paratic￿ of annual PCC budw). plans PCC Meetir￿ agendas. and makes
re¢0mmenda￿or6 for PCC cortsbknlon as it soes fiL Its men*erthip comfft the Curate. the Prrest in
Char9e, the Church W8rdens, the Treasfftr. crf]e TruSte￿e member and the Secretary. ThB Standlng and
Finance Committee met rrve year.
REVIEW OF THE YEAR 2024
Mlnlslry: Ther• Is lots io celobrate about 2024
Worshlp
Sunday seMee5 have rxythnued to gr￿ aTrJ flouiish. We aro actwety training and emp￿￿e￿.Dg tgèm of lay
readws, who are growing in LvnfrJ8nc& in hosting. weaching. and taknng on greater resrrf>nsiblty. The Prayer
Ministry at mming S￿1￿ ha3 also 8wwJed over tr* past year. wth more ￿0p$e steppiro forward to
serve and receive prayer.

PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOUTHSEA
PCC MEMBERS REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2024 was an ex¢itin9 year as *Ky*de the gr￿ of the ￿ng￿8th"on and Ol￿r acbwbes desry(bwJ elsevthere
in thus rewl. acNeved an overall level of finarwl ststslty. Key frjures for 1he year are at In the statsn*nt of
flnanaal aCtiV￿es, but the folkM4ng financ4 hiylth9hts are ￿rthY of Tr)ts:
Vokntary un￿striC￿￿ gNing for the yEar was in the r&J*A) of £72k aF*hg frnm an in(xtas• In d regLdar
throvJh the Parth I￿n9 Scheme tmih 42 wilar (k￿￿5 Oasi ye8r 361 gMrwJ a lilue undw £4.5wl￿th as at
31 Dec 2024. Afvrther £40K of Unrestricted fvThYs ar￿ frcffi grants received.
Voljntary re8trithl givbtq an1J￿tsd to £45K ¥ ftthr£113k from grants rg¢*vgJ.
Income frcTh charitable aclfvrties saw ￿lIary tradi￿ knc¥easo to £99K. £28K of %thlch is Rèstheled, and a
furthef £5K from rent￿ incx)me l&'cydè Rewlngl.
The Pantry is y key mirllstry and wa$ gstablished whlh a miew ryde to er￿u￿ that rt was affcidable on 8n
Or¥J￿ng basis. Incc¥ne from thè Ponty arKI donabons are Restrthd suth Ihat Ilw lurtls can onty be
used ft>r thè Pmnty and thÉ￿ have exceetsd the costs.. as th have wo¥*J&J a degree of to tho
or¥Jc#ThJ 0￿[¥110￿.
Gfft AIY Recovery has provided over £12K and 1$ 8 y￿Uable Inrxèase to ts amounl of a lax payro Ind￿￿￿￿91'S
¥obJntary ￿ving. This i8 at no cost to the dor￿ aThJ quajtyng are *￿(*jraged lo ￿9n up for GrfIAkl.
G&s arKI ¢lectriiity costs exc8èd*J Q7K tn th¢ ye8r ￿t￿vj Ihal ihe txMk1ing is in rwwl8r use thwhout the
week. The ￿&wa￿e he81 inGenfve IRHI} payments haN* to ￿￿o¥•Ye 1he pa￿Ck W fLf.
The thst&tstion of sol¥ PV parth t(M)f reP1aL￿nent is rthv ix*)kerfJ fly nbjnths n 2025. This wll
S￿n￿centy ￿ed￿e de¢*ioty ¢osts as well as (lenK>rtsirate Ihe Ch￿￿'S WTwnthnt to
We contiNe to t¢ ￿eSSed by tho proviS￿)n of Ih? (5(Kesan Stratsglc DevglDpmeni FuTrJ whl¢h contributed to
speC￿C staff costs as ¥￿1 8s some bjilthng work The remainiThJ rest￿ fiJ￿rIng for ¢werations 4was
transfèrrad to us in Januwy 2025. This is a finlte sc*Jrce of inLt*me and Ihe of rryukr gNiryJ Is progres5
towards St M￿are￿S be¢(Kn"tr￿ flnandaly 5tlk￿ffi
Church Hall letllngs generaw ovor £33K of income and Ihe hall DYrtinu¢s lo te a valuabifr osset both 8s
owsion to the community but also in *¥xrne to bs for thè thLffth'$ ffintstry.
As a PCC we Its ftdty meet the Paiish Sttare rew￿￿￿t0f£l7￿.
The year ended with a totsl iTh)Jne ￿ £336K aThJ experthjre of £256K whith ￿l￿ted in a nel movernent of
£8OK ocross unrest￿ and R8StrIc￿ ￿ This posilk￿5 St Margarfs wdl tstheir on9thg ministy.

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
PCC MEMBERS REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
FiMn¢È Report ICMtinuÈdJ
tkning the year. were abl• to to W asKle a rBSth ensurry suffiuent finana81 resourc8s arè
pmtecied to cover any costs shimjld any unltresaen c4rciNnstsnce$ mr rewlt ￿ restsicdng abilty to
op8rate.
The greatest rlsk lo the cngolng (Wal￿ of the thur(*'s ministsy 15 a fai￿re of Ihe ryM)f. The intent 18 to rerwf
the nave during spiing 2025. Cowderation of *iyng netting ur*ler the c?1￿￿9 to thè need to stop
acttylU¢s ¢YUrA￿ thg bun(firvJ works Is urthnvay.
k Ilem
Fajlure of the rvof
Llkglihood
e(InJrn
igh
activilw n>Jved rnto the haN. S
nd cèfé would have kn pause resulbng i
lace roof
Increase in energ
Is
edwm
8dium
Installatlon of sojar PV to red￿ fv
ManB9• 0Tr8
Day to day flnancld Operatio￿ are c￿￿Juctttd by the bct*ko¢per. Kata PrKaous. wtth over3h3ht and guidance
from the Operatrons Manager and the trèasurer. The Manager has I￿•rtaken bolh of rojss
since the bookkeeper th Sp¥thant expendI￿re rwulres atwval tr￿rt duty athsed wr50n$.
Saf•guardlng
The Parish w)UrTrues to liatse with the t)ioc8se fvr safeguarding ath¢e and trainiThJ. The PCC lead for
s8feguarding Is Laura Preston. the Parish Saf8gu8rdirwJ oifthT is Phikpp8 Dawson.
Bulldings Rgport
The rool pmjeLI ¢￿tinUed lo nm IhrcwhcKrt 2024. 7P•th several fund-ra￿Thj evenls otswmng thrn9￿Ut the
year s￿nIficant T￿￿ling obtained through the NatiC￿81 Lottery CorNnut)ity fund and tho C￿mun[ty
Infraslructuia Levy. A Facufty for Ihe roof prc4ect was obta¢ned in March 2024. A ￿al bat surw 8TrJ struckn81
survey have ensured that ts progt8mmè wll FKogress earty in 202S.

PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOUTHSEA
PCC MEMBERS REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
PCC Menthr5hlp
Member$ of PCC ol St Margarfs Churth In 2024
The plectk)ns toc4( place ￿ Sunday 19th May at IhehPCM
Namè
Fran CaT8bolt
811 Smart
Prlast in Cha
Prestc
rd Jone5
Church Waden
om Rayner
reasuTÈr
Ida Mapeta
Re4*8d from 14th
2023
Smith
frun 14th
2023
lected mèmber
frryn 14th Ila 2023
aul Thwailes
[￿7 141h May 3)23
led merthr
R￿lect￿] frcffn 14th May 2023
Lauren Stevens
18Cted mernber
Frcrfn 1W May XJ24
The PCC members report was 0ppThed by Ihe Bc*rd ofVAnbws ofthe PCC.
The PCC Mem￿rs
th1.itr Fr¥n¢ls Caraljott
Datsd: 24 Apnl 202S

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
INDEPENDENT EXAMINER'S REPORT
TO THE MEMBERS OF THE PCC OF PAROCHIAL CHURCH COUNCIL OF ST
MARGARETS soiyfHSEA
I rgport to th8 members of the PCC on my of the fin￿a81 ststemertts of Parochlal Cmrch Councll of St
Margaret's Southsea It￿ PCC) for lh8 year end8d 31 Dfcemb8r 2024.
Responsiblllths and basis of r•port
As the members of the PCC of thè PCC you are responsibk pl¢p￿ation of the fina￿la1 slalements in
aVmrd8r￿e with fhe requirerrents of the CharibesAct 2011 llhe 2011 Acll.
I report in rospgct of my exarnTnal>Jn of the PCC'S financtal staternents carr*d out under section 145 of trTe 2011
ACL In carrying out my examination I have followed al the appfiGabfe Dir8¢1H)ns gNen by the Ch8rity Commission
urM*r sect*)n 145l5llbl of the 2011 Aci
Ind•p•ndènt èxaminee5 slatsjnent
Sincè the PCC'S gross irwrne exceeded £2￿.000 Jxjw exaThpr must be a rn8rnb8r of a bcdy listed n sect*?n 145
of the 2011 Act. I confirm that 18m quafrfied lo urKlertake the examin8tion because l am a member of ICAEW. which
is one of Ihe Ik8tEd bryfies.
I have completed my exarninatlon. l that no matters have corn8 to my altention in conn8¢tion with Ihe
examtnation gmng cause to bdieve Ihat in any m8ieriJ respe(I:
acctyjnts.ng records not kept in respect of tre PCC as by secl*)n 130 of the 2011 Act or
the financlal statèrnents do rK)t wth ttrK￿ record¥" L
the financial slatements dr> not compty the applicabk requirements the forn and content of
8ccounts s8t out in the Charities lAC￿￿nIS RÈp(wtsl Regulati(￿5 2(KJ8 0th8r than any rpquirem8nt ihat th8
accDun15 give a trvg and far view wh￿h is rK)t a matter cons*Jered as part of an independant oxaminatK)n.
I hav8 ￿ conc8ms 8rxJ havè come aL¥oss no olher matters in conn8dion *ith thg 8xaffl1nal￿ lo whKh attent¥)n
Sho￿￿ t* drawn in this WepL￿t in o￿t0 enaE4e a proper understandiNJ of Ithe finanrial statements to be reached.
Timothy I￿lIett FCA
Carpenier Box
53 Kent Road
Soutrs8a
Hampshire
P05 3HU
United Kingdom
D818d: 24 A￿1 2025

jo ¢0
IYJ
Jo
VJ
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11 i-
ij

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S SOUTHSEA
BALANCE SHEET
ASAT 31 DECEMBER 2024
2023
Fix•d •ss•ts
rangl)le assets
Investments
12
13
29.120
15.031
15.403
44.151
Debtors
Cash at b•)k and kn hand
14
198.626
131,934
221,058
1￿,49]
Cvedltor¥: amt)unts taling due vllthkn
on• y•ar
15
5.540
5.7T2
Net ￿Sets
215.518
129.719
Total a8•et• cmrrt Ilablllll•8
253,521
173.870
The funds of IM pcc
EThJowment frjnds
Restncted income funds
unreStrid￿ fund8- ger￿al
Unrastrlclwj funds- deggnal
16
17
15,403
15,031
100,140
35.57g
23.120
87,662
19.edxi
253,521
173.870
Tho financ￿￿ State￿&￿ts were apFY0￿j by merr*ws dthe PCC C￿ 24Aprl 2025
. *trFrdn(as Carabolt
Trustee
10.

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEAIBER 2024
Accoufitlng polki•s
Parody￿ Churth Courtll of St Mary4ref¥ S(KJthsea ￿ a wistered chartty kn ErvJland and Wale& Tho
Tru3tees are the members of ￿ PCC nam8d In the Annual RèF(rt The of Sl Margarefs address is
HNJNand Rc4d, Swthsea ,Hants. P04 9DD.
1.1 Accoutrtlng conv•ntlon
The flnandal statsmet)ts have been wep8red in accordance vrith the PCCS documnt, the
Charlues Act 2011. FRS 102 Tr Fjnanual R*r*Wti￿ Stsndard appfThble tn the UK and RepublK of Irdand.
I'FRS 102.1 and the Charit*s SORP "Attoffiting arKI Rerrtirbng by Charilies". Stslernent of ReC￿mended
Pr8Ctir* applicable to ￿￿tieS pr8pariThJ thetr a¢￿￿nts ￿ acLx)rdano with Ihg FinanGi81 Rgporting Stsndatd
applx>bkn kn the UK and RepublK of Trel￿ (FRS 102r leffectve 1 January 2019). Th8 PCC is a Publ
Bonefit Enoty as defmed by FRS 102.
The PCC has laken a(fvan* (rf Iho prv41Sm￿ SORP for th8rltigs not k) prtrpare a Statsment of Cash
The Ilnanclal slatements hav¢ depart￿ frryn the c￿￿1￿$ IAcccrtJn15 arvj Reports) R￿Ula￿S 2008 only to
the extent requSrad to a tnje 8rKI fair view. Th15 depwture has irNofved frllowng the StAternent of
Re￿Mrf￿nded Practice for chara1￿ apFlyknig FRS 102 rather th8n the versK)n of the Ststement of
Rets)mmonded Pradlce whKh Is releTh￿ to In the Regulations ¥hich h&8 sirte been V*TthdroYm.
The fin81￿￿1 ststemBnts qre in sterfiry, ￿¥ch is the f￿￿onal oJrrerLy of thè PCC. Monetsry
amounts kn tw statenwts 8re r<K•haod lo Ihe nearest£
The finandal stateM￿ts have b88n pr¥p*ed L￿dtr the historical r4)5t convenlion, ￿K￿lIfIed to Indud6 certan
finaTh￿al Instrurr￿S at far value. The wwKypal &￿*￿e$ a(Wed are gel behxf.
1.2 Golng concern
At the time of apprO￿ry Ihe fmanrAal statements, the of the PCC have a ￿aSOnable expectauon
that the PCC has adew8té rèsourtès to eonb.nuè In operational ext5tence fy the foreseeatle future. Thus Ihe
mambers of tho PCC ¢onlinue to lh& gc¥rvJ (xrt)¢wn baÈis of ￿lUnting in weparing the finanual
Stat￿ents.
1.3 Charttable funds
Unrestrictèd funds are avalable for use at the of Ihe m&nbera of th PCC in furthe1*￿ of tha
tharitable *(*ve3.
Deslgnated lurKls eomth lurKts which have been sèt asidè at thg (tiscTrtion of the w*mbers of the PCC for
spedfic purposes. The purFMxes and uses of th8 de$b￿ted funds are sot <xJl In the not89 k> the finandal
stslemerts.
Rostrlcted funds are to SFeuIt by gra)¢￿¥ as to ￿ thèy may bo used. The
wrposes and uses oflhe resi￿ are set (Art in Ihe Tr)les k) thè ffftèntial statsmènts.
Endowmont bjnds ar8 Subj.￿ to by that the cawtsl musl be mainlain6d by the
pcc.
1.4 Ineomè
Incc¥ne is retxgnlsed wh*) the PCC is leg￿ty enlltled to it after any p¢rftxmance ?￿dItiOnS have be￿ met,
the onwts can be measLffed rel1￿y. and it prO￿e that In￿Me will be ￿1¥&1.
11

PAROCHIAL CHURCH COUNCIL OF ST MARGAREF'S SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS (COMTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting p￿￿¢leS
IContlnu•d}
Cash donations are recogr￿se￿ on receipL Other <k)natThs ore recognised orKe Ihe PCC has been notifi￿1 uf
th& donat'on, u￿e$S ￿rfOrMartt Co￿r￿N)n$ require deferrdl of the amount. Incofne tax rt¢overable in relats.on
lo ￿alkInS receiv9d undgr Grfl Aid or deets of covenanl is rècogftised al the time ofthg donatiL¥).
Legacies are re¢fjgnis¢d on rnceipl or otheTh¥lsÈ rfthe PCC has been noiified ol an irnpending disbityJtson, the
amount Is kTh)wn, and recept is expecl¢d. 11 the an￿U￿t is not kr￿￿. the Wcy is treated as a c￿￿ngent
assei.
l.S Ex￿nditure
Expenditure is rwised once lhe￿ L* 8 legal ￿ o)ThslnJcth* owatton to transfer econom￿ bengfrt tg a
third paty. il is probable that a transfer of ecL¥￿iC tenefits wll be Tequwed n settlement. and thè amount of
the ot4igation Can be m8aFdJred reliably.
Expenditure is dassffjied by acity. Thè costs ol each acaNty are made up of the lolal ol direct ws18 aw¥J
shared costs. inthdin9 SUPPOrt cr£ts ￿1¥C￿d ￿ Uniler￿ng each activity. Dir&ct CA)sls attrt)ulablè to 8 sing$•
ath.wty a￿ alkxale(I directly to that actrvty. Shared u)sts which contribLrte to rnore Ihan one activity aThl
support costs ¥thich aTe not attributablo to a SI￿ 8c*vity are apwrtk)fted belween tIK)5e activrfres on a basis
¢onsistent with Ihe use ol resources. Centql st3FF costs are 8knxted on the ba%s of time spent. and
depreGtation tharge$ are alh)CAted on thè ponthjn of the asseys use.
Costs are eharged direclty to Ihe rtK6t apprcynate activrty orcaÈew of Èxpenditure.
Parish 5haTe and other costs diredy ￿Lating to the work and ￿lI￿lIeS of Ihe Churth are aecwnted for %then
they we In￿rred or become due payable.
1.6 Tanylble fixed assets
Cort5ecrdted and benefi￿ wcfwty is exdLKJ8d from aco)unts by S1012118 & cl of Iho charit￿e$ A¢1 2011.
oveatle d)urdi fuff4stsngs hekl by the chUrchwa￿￿5 5peu81 trts5t f¢x the PCC aTrJ whtch require a
faojlty for disp￿SaI are capit81i5ed 8t cost aTrJ wrrtlen off oyer thgir usèlul econcfftc Ille oth¥ than where
insufficient cost inforrnation is available. In itss Case the item ￿ nol capttas8d, but is induded in the ChLbrc*'s
inventory. expenditure the year rm ethsetrate(l or benefte bjikfings. whether for
Mainlenan￿ ty lrnproyement. k8 wnlten off & exp8ndth separalety di8dosed.
Other TarvJlbb fixed assets a￿ initialty me8sured at LXSt aThJ subsequenty r[wa$u￿￿ al ￿$¢ or valuation.
ol dèprecHb"on and any impairment bs￿.
Depr8uab"on is racognised so as Eo wriie off Ihe cost or valual*)n of assets I8s& their ￿SIdUal values over their
usèftjl lives on the folkm'ng baw..
￿￿tUreS, rth'ng$ & aqu*wiwit
20% on reducang baLgrKX or strawJht ￿ne
The gain or loss on the disFwI of an asset ts determingd a5 the dÉff8rence betvleen the sale proceeds
a￿1 the Ca￿n9 vabJ• of the asset. and ￿ rwised in the Staterr￿t of finanGpI aciivities.
Individual ol equipm8nt with a Purd￿ v81ue of und* £3.5￿ are vA#ten off when aCqLMre(l.
1.7 FIX￿ ass•t Inv•$lmqnts
F￿d asset Aivasknenb are initialty meayiied at transaction pnce exdyding tran$3dth￿ costs, 2nd are
subsequenljy rt*aSu￿ al f￿r vakje at each reporting (Fate. Ch8nges fft faw value are recognised in net
iwKomellexperK*lwel I￿ the year. Transackn ¢osts are expen$8d as incurred.
12-

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS {coKnNUED)
FOR IHE YEAR ENDED 31 DECEAIBER 2024
Accounllng poll¢les
(cry￿Inu•
￿￿1m￿nI of fixed assèts
Al vach reporting erKt date. PCC reviv*s Iho Ca￿n9 8mounts of its taroJTrAe assets to detemlne whether
th￿ ks any lThJicatw)n that those assets have suNeTed an wnpairrrent bss. If any suth indkxtion exlsts. th¢
reeovarabl8 al￿￿Trt orth• assot h estimaby kn ord¢r to thtemiln8 the oxtent ofthe kn¥dIr(￿l k)85 Ilf any).
1.9 Cash and cash •qulval•rrts
Cash and txh equivalents knc4Lkle (*sh in h8fKI. dep)&ts hetd al cam wth banks, other short4erm IKivid
investjnents with original m￿tieS of three rnonth¥ or less, and bank ovordrafts. Bank overdrafts are shown
wfthin t#Jffwngs kn ￿rrOnt Ik8Nltie8.
1.10 Flnanclal Instrum•nts
The PCC has ekded lo apply Ihe prows¥J)s ol Seelkn 11 'Basic Fin*Ki￿ Instrvments. aThl Sè¢bM 12 '0ther
Financi￿ In$trumgnts Issues. of FRS 102 to all ol Its ffinartial tr￿Ments.
Tinantial inslrurnents arv re(wnlsgd In th& Pctrs b*anc• swt kn the PCC tecomes party to tha
contr8cttJal pffjv1s&￿S ofth• ingtvument.
Financial assets and Ikiblities 8re offseL ￿ the net aErwnts Mi Ihg fmancial statemènts, vlhen
there a legalty onftyceable rbhl to set off ￿ reC(wIs￿ amounts and th&e Is an Inténtm to sellle on a nel
b#sk% orto reali8e Ihe a58el and sètlla thtr liatrAIty siffNJhanwJsty.
Basic fin•nual•ss•ts
Basic finanaal assets. whkh Ind￿ debt(Y8 aTr8 cash and bank baance& ar& iThti81ty Measur￿ at
tr8nsaclicffi price Includirs transaction cc6ts and a￿ sth8qWtty rwried at amortlsod cL%t using thè èff8¢tiVg
Intgresl method ￿1￿￿5 Ihe arTangoment ￿lS￿￿￿teS a fftnarKirvJ tranSactTr￿l. vh￿E the transaction is
Meas￿￿1 at the present value ot th8 futm rerApts dt6cwrtsd 018 mathet rale of ￿tere$L FSnancial assets
dasslfi$d as r￿eNabl9 wthin one year are not arnortisgj.
Bask ffnanel#l Hablfftl•s
Ba$* financTral liabilitles, lnrA￿￿g ry9dittys bank knBns a￿ InibaThy re(rynlsed at trwsa¢lKffl ￿ce ￿1¥$$
Ike arTrngement conslitutes a finandng Iran5adk)n. ¥there the debt instrurrtht is measured at the pr￿nt
valua of the fijlure paymènts fthsceunted al a mwket rate of inleresL FJrwirAal l1th1￿e$ dhssffied as payaL4e
within on8 year aro not amcrfti*
Tradg uedltots are dAvJaticrts to pay for gcods CK Services that have been in lh8 Ord￿ary ccwsé ol
operations from 9jPF4ie￿. AnKxJnts payaNe a￿ d8s5ified as curtenl Ik*Mlrbes if payment ¢5 due %Mthin on$
year or less. If not, they are F&e$￿ted as r￿￿K￿rrent liabditias. Tr* creditors r•p)9nFsed inltially at
transacuon price and s[￿￿L￿)Ity m&wJfed 81 arTKxlSsed cost u&ng the 8ffectNe intefest n*thrAJ.
FInanc￿l liabililies are derec0￿ ￿ thè PCC'S c*liJatiC￿S w*re or arè dis¢har9ed or
cart￿1•d.
1.11 EmplO￿e b•rnffts
The cost of any unused entitlonwl rs recwis&J kn Ihe ¥eric*J n) whkh &mKloyee's serviLW are
r￿￿11￿.
Termination benefits are rÈcognised wnrnedlattty as an expense wh￿n the PCC is denwNt5tsL4y cunrrulted to
teminate the em￿0yrn9nI of an emptye or to prDvk* termirratM)n benefi
1.11 Rgtlrtrment b•n•flts
Payments to deffir￿ contrkntstion rgtrement benefit sd*mes are chty as * gxpTh as they fan due.
13-

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income fn>rn donatlons and legaci•8
Total
funds
2024
funds
2023
funds
2024
2023
Donations ￿ gffts
72276
44.763
117,039
58.437
46,355
104,792
5,000
68.137
112.982
112.982
33,353
7Z276
157,745
230,021
93,221
84.708
177,929
Grants reedvable for cor• actMtI•s
Portsmouth Diocwn
Board of Fin8r*• & SDF
Contrlbutbn
PCC PaAty orant
Tesco foodbank grant
PCC Fkyjsehdd Support
Fund
HIVE
FU￿re Youth
D0vekp￿￿nt Gran¢
40243
40.243
34.784
34,784
7,511
375
7,511
375
71.339
71.339
18,367
18.387
1,500
112,982
112.982
34.784
68.137
Total
funds
2024
funds
2023
2024
2024
2023
2023
Sl Mir9arefs church and church hall
Sale of goods
Ancillary tradb]g Income
Charitsble rgntsl incomè
71,466
27.633
59.114
24,390
83.504
76.5
27.633
104.133
64.512
24,39)
88,902
14-

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
NOTES TO THE FINANCIAL STATEMEKrs (coKriNUED)
FOR ThIE YEAR ENDED 31 DECEMBER 2024
fotsl unrestric￿ Restrictsd
funds
fimd$
2023
2023
Totsl
funds
2024
2024
2023
Inte￿8t rel￿Vable
451
699
245
118
363
Oth*r Income
Unr•strkt•d Unr•strlrt•d
furx15
funds
2024
2023
Olher incom•
757
Exp•ndltyr• on eharltsbl• acllvStl•s
Margarofs Mw48r¢Vs
ehureh and church and
chureh hall church hall
2023
Direct ¢0sts
71204
11.861
17.279
58.423
16.347
48,499
15,579
12.579
60.431
11.149
17.197
57.894
18,654
30.977
8.918
12,234
Doprecialbn Impalrm8nt
Parish quola
Church bUild￿g
Communty cafe. $￿p #nd soft play area
Panty
ssion and 51JPPOrt
Churth managernent administrathjn
251.771
217.454
Share of SUpP￿t and govgrnanc• ¢06ts Is•• note n
4.594
256,331
Anatysb by fund
Unre5tTKted funds. general
Restricted ftJnd5
134.687
121,644
175.092
46,956
256.331
222,048
15-

PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS (coKllNUED)
FOR ThIE YEAR ENDED 31 DECEMBER 2024
Support ¢ost•
2023
Independent Exa￿AnerS
4,594
4.594
charitab￿
The Trdependent examinws fees for thg ¢xamknafjon of Ihe acujunts £1.2CKJ {hdud￿￿ vat). other
payrrAI #nd a(*￿￿1#￿eY S￿￿*$ are [¥￿Jed.
M•mb•rs OfThe PCC
None of mambats of the PCC lor any Fwsons ￿nn8&8￿ wth Ihèm) rec£wJ any remuneralion or
expenses as a PCC m&nter duriro the yEar.
ct¢TQy Sti[￿ ￿re paid by the C(HM￿k)nefS WTthin Churc* of England sUpeThdl8ry guid¢lirtes.
Employeeg
2024
Mumber
2(123
Number
Employment costs
2ty24
2023
Wagtrs and sdarf8s
70,747
59,909
522
71204
60.431
16-

PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
(ContInU￿)
Remunerntlun of key ManageM￿rt pers4)nn
2023
A4gregate ccrfnpensat
33.661
31.533
1fj Gain¥ and losses on Inv•stsTr
Endowm*rt Endovmient
furMIs
funds
2024
2023
Galnsllk6wl wising on.
Revaluatton of Invgstments
372
56
11 Taxallon
The chwty is exempt frryn taxati1￿ rfs ac11vil￿ b8caLF8 all is aPpl￿d for charikbk purposes.
12 TangI)le fix•d a￿ets
•quWmèrrt
AJ 1 jOn￿ry 2024
55,743
5,341
Ai 31 December 2024
61,084
Doprgcladon and ImpalrrrvJnt
At 1 Jarmrary 2024
DepredalKJn charg8d In lh¢ year
26.623
11,861
At 31 December 2024
38.484
C4ryying amount
At 31 t)￿L￿ 2024
22,600
At 31 D8c•mbèr 2023
29.120
17-

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEM8ER 2024
13 Flxed assel Invulments
Unllst•d
Inyeslments
Cost or valuatlon
At 1 January 2024
va￿atknn charvJe
15.031
372
At 31 Detsmber 2024
15.403
Carrylng amount
At 31 December 2024
15.403
At 31 De¢ember 2023
15,031
14 D•blors
2024
Anwunts falffing du• wlthln on• y•ar.
Trade dobtors
Othor debtors
5,750
15,OLX)
1.882
138
22.432
3,557
15 Cfedltor8: amounts falllw du¢ wlthln one ￿•r
2024
2023
*£(n￿lS aw¥J defeffed inc4)me
16 End¢)wmgnt
Endowrnent fund5 represent assets vthKh must ts hek1 ￿rma￿ndY by the PCC. Irw)m8 on the
endowment fijnds can be used in ac(xyd8nc£ ￿th the ct¥eds ofthe PCC aTrY ￿ tndLbJad as unr8strlc￿I
income. kny capilal 9air6 or kss85 ari5vvJ on the a5sels form part of ihe fijnd.
At l January Galns and
At31
2024
loss￿ D•Com￿r
2024
Permanent •ndtyrnts
15.031
372
15.403
18-

PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Endowmerf funds
IConthiu8d)
Pr•vious y••r.
At 1 Janu￿ G•lns and
2023
At31
D•c•mber
2023
P¢rn)an•ni Wdo￿nIS
BeneficeAu9mentalicn FUNJ
14.975
15.031
The ¢8p#81 ol thls fijnd 18 avalablè to the PCC Imjt the InoJne frryn it may b• usèd by tho PCC for If$
generdl purpose&
17 R•strided funds
The restricted fur￿d$ of charity c(rfnprfs• lh8 unexFended tralancr5 cl donat•)ns and gr* heha on trust
subi6¢t to swcffic ojnrfthns ty &)wrs ¥ to how Ihey may ￿ usg(t.
At 1 January
Incomlng
2024 utswrces
Transfu¥ &ins •Dd
A131
losses D•¢tmber
2024
Diocesan
Strategic
DeVd0prr￿nl
Fund
Panty
Fund
Rwf Fund-
Lottery Solar
Panel FundiryJ
PCC- Soft Aay
Area
FLrture Youth
{43.0e￿I
(67.2411
16.1231
42.482
47.858
111103
9.343
IX).2661
57.078
51.078
19,7(K*
19,700
(3.000>
3.0(KJ
{52fxil
100.140
185,626
{121.644)
133.2e6)
130.856
19-

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS {coKfiNUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Restrkt•d funds
ICon¢inued)
Prévk>us yw. At l January Ineomfng R￿ty￿re•S Transf•rs Galns and
2023 resou￿0• •xp•ndAd
At31
2023
Pantry
Roof F￿d
PCC- Sdt Play
23,380
10.(I)O
71,758
31.858
(45.156)
I7,￿)
42.482
47,8S8
(3.{￿>
Future Youlh
Devetopnw
Grant
11.8001
41380
109216
(46.956)
{4.XM))
100.140
Th• Strnt•gtc DevekVn￿I Furnl has Erf￿4￿￿ed fvrthg fr*slaff op*akns aTrJ w
Porlsrn￿ Cty C¢)uncl conlribLthtl £15.C(K> tchvards Ihe proth of a g)ft ￿8Y rn wlihln the St Maryarofs
church. The tr8nsferto unresthcthl fvnd matthes Ihe (W2abon dwged.
A panty VAS estsbFsh8d In 2022. Gra)ts from pr￿1$17￿￿th City Counral.
Donations and a t*ere ￿1Ved for Tepair& Lott￿ fi￿ng of £19.7(MJ w•s for Sdar
PaneL8.
A 9r•nt Of£5.6￿ was re¢eN8d fuThJs an intem. Afirtier £1,4tXI was rBceived In Ihe ygor.
18 D•S￿n•t¥d fund
The unresiréded funds of the charity ts)mpAse Ihe bala￿￿ of thJnal#Ms And grants ￿1c￿ are
not subject to specffi¢ t￿drtK￿rns by dorKJrs aThJ 9ranlors as lo Ilw be ussd. Thgse indude
deslgnated knnds which have been set ashje (Njt of Ltnre4￿thd fuwyjs by the trustees for purposes.
BatsDc• at
1 J•ThJwy2023
1 Jaway 2024
31 Dèc•mb•r
2124
FixwlAssèl Fthvj
31269
(8.149)
23.120
(3.5201
19.600
31.269
18,149}
23.120
(3.5201
19,600
asset tund has b8en dest￿ equ￿ to ts Yah￿ of Lmre*ithd assèts.

PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Analysis of net •suts b•twÈ•n funds
Total
funds
fvnds
g•n•ral d•5ignated
funds
2024
Fund balan￿ •t 31 DKembw 2024 ar•
pre$entgd by:
Tang￿e a58ets
Investrnents
Current aSs￿lI1L9bS1St￿}
19.800
15,403
15.403
215.518
87.662
127.856
87.662
19.6
130.856
15.403
253.521
Total
funds
gMgral d•¥ignat•d
2023
2023
Fund balane•s * 31 Doc•mbor 2023 ar•
r•w•s•nt•d by.
Tangible assets
Inv&stments
CuTh¢nt as$otsllbthlit*51
23.120
29.120
15,031
129.719
15,031
35.579
.140
35.579
23.1
100.140
15,031
173.870
TheTe were no disdcwtAe related parfy trartsadh)ns durry the year12023- ￿ne1.
21