Charlty r•gl•tratlon number 118W66 PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S SOUTHSEA CONTENTS P•g• Ind•p•ndgnl rgp Slalomonl of11nan¢lal a¢lMI•s 9-10 Bal￿ she 11 Nota8 kn th• fiMnc#al 8ta&•m 12-23 PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOUTHSEA PCC MEMBERS REPORT FOR THE YEAR ENDED 31 DECEMBER 20A'5 The rn•mber5 of St Margar•Vs ParrA*K￿ Churth cou￿1 {PCC} submrt Annu￿ RoF(fft aThJ the flnan¢l statsmants for the yoar ond8(131st Dewnber 2025. The accounts have bb&n kygpared in acc4)rdanc* wlth 1he accountry policies set oul in rK)te 1 to th8 ￿)unts and CMWY WIV) th¢ govgmry regulat*)ns. the Charities Act 2011 and Acc¥>JntThJ ant1 Report1￿ by Chaiiles.. Stat￿)ent of Recommended Practre 8pplie8ble lo ch8Fiti•s preparing thelr ac¢))unts kn 8c¢Ml4n¢e with the R8Falno St8Thlard app11¢8ble In the UK ond Rewtllc of Irdand (FRS 102) leffeLtive l Januory 20191. Loc•tlon St MargareV$ Church athlress is HigN8ThY Road. Scrtthsoa Hants P04 90D. tts bwk •re held wilh Uoyd& Bank Flc. and CarpÈntsT Box. Charter&J k£wntonts exa￿￿r￿S ils aco)unts. B*¢kgrwnd St M8nJar•*8 PCC has wporBiblity for prc¥llolkng *thln th• Kclo8Wcal p8rknh ts mL88kn of thg Churth: pastor¥l, evangel*tl¢. so¢lal and ecumenThl. It Is a o)rpor8te bc#Jy 88tsLI18hgd by th8 Church of Ewnd. Th• PCC opgrat08 ￿der I￿ Pwochl81 Chureh Counal Powers Measw. l Marg8r¢t$ ￿riSh fan8 th& Dioctt• of PTh1smoth. Tl* p#riih m9k8s an anrvJal ¢ontributlon, fthe p31ish sh8re'l. IÈ used to pay ckngy 6tip8rnts, to fund dlcK*8H.I mini81ri08 that supwi thè padsh and for dioc8J8n and gen&ro1 synod costs. The dlocese appoffits th• panth d.3rgy. Ct Mar98rnf8 PCC bs a th•rity- r•gistr•tiM 189666. Publk B•n•fft The PCC ¢tyry>11g(I wlth Ihe duty In th• Chwlfj•s A¢1 2011 to hav• Tagwd to publk b￿efft guldonc• publ58￿ by th8 Ch81ty Comm158bn. Il•mboY•Np of th• ChU￿h I he E*loral R¢xl for 202S stood 4180 ffl￿b￿. 88 rep￿1￿] by Phiw Dwnon. Elethl Rou Offic•r. oul 2025 St M8rgar8Vs L8 eulklk¥J c4Jmmunrty vlth Je¥us at L*nlm'. Our ¥alLb•8 ore to b8 cerknd In CMg1. roolod In Ns W￿d 8TrJ worship. and seryYvJ ow OJYuY￿. Wé ar8 wlng our ¥I￿on and values lived rAsl by i￿ldIng ￿alK)nsh1F6 who use our bLtik4in9 through play. caf•, panty, Vrfni Mags Toddlgr group and commvnlty days and by Y￿pCO￿r￿￿ thgm to lurther OFf>Ortunltt88 to •ThJ8ge In the Iwo of th& chu￿￿ Alpha. cornrnunmy ff￿16, fosUv•l$ and s•rvk•s. Ufe groups chwch on su1￿y5 ar¢ en¢Wra￿ as spaces to grw in farfh •nd deepen our undwstsnding and èxporisni* of Gcd. T88thfft9 ts foojsod cn INiThJ prnc*c4ty As disdpbès of Chrlst in a char@irvJ wxld. 2025 YMB o yew of gr•al dwng• for St Margaret'B wlth a l*g• t•￿ I•A¥ty wlth R•v Frnn Cornbott to FAdnl a new corvJr8oakn In Ihfr ntyth of ￿ dty. WhI5t tNs charvJe iYowJhl ongoiThJ for the contlnued gr￿V1h of Sl M•ry#r•l'$. it was part ol the vl8lM pf8n th•t w ¢ongr8gatths W￿k* ￿ sent ¢Jrt to plonl rthi 7A¥Jrnhlphw eommmtl88. Thls musl bo (*ltht•d as • SuThJay morrAng wsNp ￿lIrth8 to b• • L*ntr81 part ol chufckn 119, MnglrvJ the vknole ¢or*Jreg#tion tOg•th•r each w88k to gather in pr8i8e. 188thiry. 8nd lef£wANp. Pla￿ remalns an inW8t •1om•nt of g•therirvJB, hlh opp)rbJnliles offered regulaty •wvk•s ond th￿Ug*0u¢ Ihe **•k. howng to wstgkn and shape th• ¥pJrttu¥l Ifg of Ihe thur¢h ¢niinii•d) The L*urch f(*>d panlry ¢ontirMJ8S to b8 g vitsl ministy semng th8 tha c(¥nmunty, prowdry pra¢tlcal 6UPPOrt to inijlviduals ond tsrnilies facing fina￿la1 pr¢ssure. Eath up to 1rA) p8cyle mak6 use tsf th8 pantry, 8cces8irvJ affordable fcod and essenti81 I￿SehOld iterns in a wdcomirvJ 8nd d￿nif*d envtronmè￿ Beyond meeliNJ Immedkte r￿￿$. the pantry also offers an Imp(Mtsni rK¥nt rf conneckn. where volunteèrs are able to buld relat[or￿hlp$. list•n. aThJ offw orKour8gemert Thb mlniw remalns a skJnffic8nt way vthich Ihe church demon$trate5 care arkd compasskn withkn c(wnrTwty. rosporxliNJ to (¥)gcing need croab'ng SUp￿"Ve and frlendty sp•ce for al WI￿ 8ttend. Th• hal e4nJnue8 to be an *￿*rtant awt IDr the (*urch. btlh ￿ a resource lor tho wldw c4)mmunlty and as a valua￿• 50urco ol Incom?. Rfjg￿r lo10￿ to lo￿1 groups and organisatic￿8 hdp on3ur8 Ihat th• bLAldlng is well us8d Ihrovghoth ts week whle ￿nIn"￿￿￿￿n9 to thg (wKig fina￿•￿1 5ustsinabilrty of the churth. In add5t*)n. the hau and 8pa¢6s 8r¢ rn&Je 8vaIl8￿ lty prwate partes and cel8brat￿jns, provkllng welcoming vet)uè ts commurxty 98thering$. These letliws not ¢￿ty 9gn8rata 8ssontHI inrune bul also strengthén th8 chull*'8 Conn￿ wlth Ihe hxal (￿MM￿￿ by oponkn9 ow spaL*s for 8 I￿8 rangt of a￿l￿tle8 and ev•nts. The replacem•nl of thè nave rwf has been a slgnifi¢anl aThJ •irwthnt Inv88tsnent in the Gar• of th• thurch buikjing. well as &Idre￿irY essenlwl m8int•wnee nefAts, th& now r￿f tas ensured the conthued walar Int￿￿ty of rhe n•v•, helpkng to protsd the fab￿C d ihe bU1hY￿ and the adlvllko that tske pla¢8 ￿thIn tt. As port of th18 prniocl. 8dar pan8ts w•r• Instsw. pmvhj¥￿ a rMr• sUs￿n8b1￿ souro) of oneryJy and hdplng r8duc8 thè ¢hur¢li'S ongoirrfJ &r￿rgY costs. TN$ Improvemenl no oity safewards the building for Iha I(rtU￿ but al￿ rnfiects a comNthent lo rwsibb8 Stwardship ol r•8ource8 aThJ environmental 8u$l8lnabih'ty. We ènd•J th8 yè8r with the funds In placo Io MF4•c* C￿ nw•1•3htiry with LED li￿18 to futwe proof the buldSng for onwAng Chpnges to fjjr stsfflrq t&am primarty InthwJ•d Rov Frnn Cwaboit rnkl-yoar to lak? up h19 nèw K*)sl vl¢8r in C06h8m 1¢4h)wed by tm •pw)inJrnnt D•n G￿nf￿{l as Priest in Charge. Jon8lhan Da¥won w•8 appoinlod as Paiitry e4>0rdln8tor In Felxuary and Doel a8 Yovlh L•8d•r ift ￿,.Y 2025. Philippa Daw8 L>)nlnu8d as Op•raUons Manwr 8lorg8kJe K•ty C¢*)por ag Chlhjren & FO￿1￿ Wort..8r and admln13tr810r. Wo Iwk bec* wth thankfulno88 to God lor FI8 f811hftho8s to ￿, kn St MwgwvÉ's and to cwr comnyJnlty thmughout 2025. PAROCHIAL CHURCH COUNCIL OF ST MAIFIGAREfs SOUTHSEA PCC MEMBERS REPORT (COIrnNUED} FOR THE YEAR ENDED 31 DECEMBER 2025 Fkn•nG• R•port 2025 was an ex(4ting ye8T as akingwde the ￿1h of the Lwrwon and olher a(*vilw dgsc¥ibwl SIS￿here in thi8 le￿)rt. we an ove￿1 levd of fjnan¢lal slatilty. K'ey figures for th& at In Sta￿nt of f￿an&￿1 actsvil*s, but the fthwiNJ fvnwl hbJhlghts are %w)rthy of not*.. Vc4tJntary Unre81ri(*ed kwvlng for the year r•gk)n 01 £46k 8￿n9 ol regular fthng throuth Iho P￿Sh Giving Scheme $tarting Iho ygor with 42 rylar dorKrf5 IreducÉng to 31 Ic4hwirvJ the ¢L￿gregatiOn pLgntl gwing little under £3.5001month as at 31 D¢¢ 2025. A lurthw £30k ol UNestrktgd lunds arose Irom grants & other don8¢lons rtt8iv8d. Vduntsry r￿￿￿0￿ gMNJ aNKA￿lad to £44k wjth a futhr£91k frtyn gran18 r•co frcAn CharSl•￿AO actsth tr•dlTrJ al £104K £4K of vAth18 R081th*, and £SK from Mtal SnrAm• IMotiv81. Th& Panty 18 6 key •nd w •*Atlish•d to •rw• Ihat It afford•ble on an ongohg ba515. InC￿￿j Irom Ihtr P8nty •nd s(¥￿8 sknalions w• Rostrtd¢d suth thal those fvnds can b• U8td It¥ tha Panty Ind ho¥& oxwded the (*th' as suth Iwe wovked a doweo of ￿￿lIanc* to th• orKJolng opfir8Uon. Glll Akl Rijcowiry ha8 PTvAded rADuThJ £5.SK 8rrfl IB li ¥al￿t￿O InL¥eaM to th• ￿QU￿t of • tax p￿n9 Indlvidual'8 ￿l￿tIty WrvJ. Th181$ 01 no ￿*t to Ihe doThx and qualffykng donm ￿ •nc•urng•d to up for Gilt Ad. Ga8 and ole(*iaty co¥18 exc*ed￿ Q4K in the yoef Ihol ¢h bu4dirKJ 18 in r8gulw use throughr￿1 th bveek. Thh Is o radudon In costs from lasl year wNth l* In Ilno wlth •xWllonB of p0￿r gewaied by th• nowty In8ts.l•d 801•r pon810. The renewable host IrK•nlfv• (RfrMI paymwth ltho yot to provhlo tM payback ped for,'.#ill provK*'ng OPF¥QXfT*y £1K ￿ paymon Thè instalT4,tion ofsdar PV pards and rcd r•pIg￿rr￿1 ¢omplg1gd In tho firnt monlha 012025. Thij wll gnlflcand:; r•due• d•ctrW cLI8ts •)bng lo￿0[￿ as I￿1 as domonstr&..o Ihe cthh's C*JmmNm0nt to A(18tslb)obll ty. W¢ contirnie to bts bknssed by th• pro¥isth ol tl* Strategk De¥thJment F￿d t•thl¢h ¢￿t￿buted to spedftc st3ff c4)sts as wel 88 sonx t￿lIJIng Tw*. The rem8lnlng rwtrittsd luThJiryJ for op8r8tions was translerrnd to U8 In 2025 contknugB to be usod to fijnd opfrratTr)n¥ ￿ffjts. Thr6 18 o finlts rnsouvce wmh th gmwlh of r3wl8r vltsl kn tho Iw8rdB St Marprot'8 trandalty 84tsWffld￿t. Church H8'.I lètb'ngs gew8tad £39K al 8nd the hall Cth1tin￿ lo be g 088et LvJth ￿ a provi810n to Ihe c¢m'Nnity bui in 9en•rgln9 I￿￿m• io L* wed kn Ihe thurth'8 ffini.-.try. A• a PCC ..* abh to filfy meol I￿ P8rnh s￿r8 r•quirement of£18,057. Thè year c'nded wih 8 total Inccff* of 316K expèndtwe of 3(XK wthich, i.tt￿ taking into Èceaunt profit on investmen131£1.3K), Te5ulled In a r¥1 movemont of £11K both Unr*rka8d and Restricted fund6. Th16 po6Mon8 < t MaTgargVs w•ll for miThsty. PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOIJTHSEA PCC MEMBERS IIEPORT {CONTINUED) FOR THE YEAR I.-NDED 31 DECEAIBER 2025 FIfian￿ R•port Icontlnuodl During the year. wa wom at4• k> continua to sel asKle a reserve •nsurng thyont 14nancial resour￿ aro pr￿¢190 to cover any costs 81h￿Id any unftyBsew rircwn3tance8 OC4yJr that resLAt kn Jwsth'cting the abilty to opernt•. The greatest rfsk lo ongciio operat￿n of tho Chu￿h.8 mlnisty Is a r•dudlon In fol)vlng tho 8UP[￿ of 8 n•w plant in thl)um. We 8re tsrgeb'ng an irueaso in lettirvJs and extended café, slw aNJ 80ft play hours lo help mitigats against the (gduclon kn regular9iwng ¢kn to Ihe 8hrfl ￿ C0￿J￿8110n. l•k tt•m eduction in Tegula ving via PGS Ik•lShood Jgh alfon nueased kntbtwj of the h81 and main ulding. athtles ur¥c*tyvJ th• neèd tr) inu•as r•4tm•nt rtk%•monts lulving unda ro0s0 In enefg iu ium n wr use ge￿lated by P ar w•ls and targ•tiNJ reF4a£*m•nl 0 ht*lg *71h LED bLAbs lo reduce futu anage $998 nerg D$y to 08y flnancial operaiKffls a19 conthlod by Ihe ts oPwa￿ Maryr and the trea8urer. Sfvaqff￿nI 8xpendi￿r• •woval Irn￿. duty •utP#yknd por8cm. S•f•guardln9 Th¢ Pawtsh ￿ntInUeS to 18lu• wmh tho fA(w• ft* $*g￿l￿n9 tralnlrvJ. The PCC lfrad safeguAft1ing 1$ Lgure Preston, the Parfsh safwarth.ng Offictsr IE Philippg 0gw5W. BuMdng# R•port The roof pr*d was comF4eled in wty 2025 with ts reFA•c*nW of n8ve rtr)f inc4uding 22 Bdar pane on the south facing roof surfae•.. The knl gutteriThJ wag mpjaced and Ihtr parnpel brKk ￿￿rk rniioiniod. Ropeirn tts thè *onewc4k and gutt1￿11vj 480 und•rfskffi M th• thanc41 rod. A lighting was undgrtaken dwlrvj 2025 with •vJ fin￿L￿ In F4aca for tho (¥mF4etth al new ngve 119hdng e8rty In 2026. L*1 B ha8 b•w grnrrtad ty lh• f(* thi¥ wc4ecL PAROCHIJIL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA PCC MEMBI=RS REPORT (copifiNUED) FOR THE YI.AR ENDED 31 DECEMBER 2025 PCC M•mknMhlp kl•mb•rn ol PCC of St Mafgami's Church In 2025 Tho •l•clk)ns took pla￿ Sunday 11th May at thoPPCM ol• ran C8r8bott tmenl In Jul 2025 el Srnart Pr*st kn Char Fd)rua 2025- Pwith vac• n Gro8nfield ¢$Wwd A8 chwch wardgn IrLYn 11th Ma to PCC 11th W 2025 hurch Wanlen Phlll hurch Wanlon od from 11trM 2025 11* Ma 21r25 ilda M od frvrn 11th M• 2025 Smtth elgded Ircffi 14• 2023 frorn 11th M8 2025 aul Thwalt88 dlffth11 2025 l•v• Ho l•(*od frryn 14• Mg 2023 ur•n Stevon from 11th M 2025 njm 11th Ma 2025 nthw M8b)n m 11th Iaa 2025 Ir￿￿ PSrt a matter riffi•ldw*l •* F•rt ol ￿ mdo￿ndant oxami'nthon, I hav¢ no ￿ne￿9 and have come acr￿5 no other mattérn In conn•ckn w*h the exaMInat￿ to whkh attenlon a￿d be drM In th18 reF#J1 In to M¢blo 8 pwi und•rstsndlry of the gtst•m•nl8 lo b8 reached. Cl￿9nt•r 8ox Civp•ni•r Box SuRe W2 C￿traI Ground FkKT, Bun¢Mnp 101)0 Lak•8kl• North Hart>our Port8moulh Hemp6Nro PO8 3EN Orlo 11 i- v> Iiii" rlOp* DOp¥4 11 i- Iii" lèa: oufo il I" PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA BAANCE SHEEr AS A T 31 DECEMBER 2025 202S 2024 l.'Ix•d as$•ts TaThJSblg assws knv•¥tmonl¥ 12 13 39,783 16.703 22,8(Kl 15.403 Curr•rf ￿￿•ts Debto Cgsh at bank and kn haNI 38.003 14 22,432 198,626 223. Cr•dltorn'. •mounts hHlng du• t*llNn on• y•¥ 221,058 18,111 5,540 Ng1 8880ts 2C*,195 215.518 Tot•l u••ts ¢iirr•nt Il•bllltl•A 264,681 253.521 Th• lund8 of th• PCC Endc¥wm&nt lund¥ Restrf¢ied Mieom8 Unr8$tridèd hJnds- ge￿ra1 Unr•8tricted l￿d8- *nat•d 16 17 18.703 112.033 125,560 10.385 15.403 130.856 87,662 19,600 284,681 253,621 Th• fln•nclol sts".tsments were aptrn•d by tr* monknrn olth• PCC on............. ... . ... D Gra•nfietd 11 PAROCHIAL CHURCH COUNCIL OF ST MARGAREf's SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 A¢¢ountlng poll¢1•6 Charlty InlornMUon ParLth181 Church of St M8rg8r8fs s￿Jtl￿8 1$ g rwJlst8r8d charHy In England Wakns. Th Trustees ar• I￿ mentss of the PCC in the Nmnual Report. thurch of St marga￿V5 add￿$5 is HigNand Rcad. s￿th884.Hants. P04 9CX). 1.1 Ac¢ourtlng conv•ntlon The financial slatements have been prep￿1 in accordance wrth fv PCC'$ otrrtmkng doOJm￿t, Charmes Act 2011, FRS 102 Tr Flnanc￿ RewtiThJ Standard #pplIc￿4 UK and Republic ol Ireland. rFRS 102'18rKI the Charhb8s SORP 'Acccwnfjn9 ar¥J RgwtiThJ by Charlt108'. Stslemenl ol R•cornme￿Ied Pr•dlce appl￿￿? to charities weparing ther aCCo￿ts In accordance ￿ the Financ￿1 Reporung Standard aFfJlic4t4e in the UK and Reput41¢ of IrekgTh1 IFRS 102r1off6c*ve 1 J•nu•ry 20191. The PCC Is a Public Benofil Enbly as dèfined by FRS 102. The PCC hw tak•n adv￿1￿ of the tho SORP n¢* to y•pAr• a Stat•m8nt of CaBh FlrM8. The financlAI slat&)18nts depariod Irom Charltk•s IAct<*rt ￿ld RepNtsI R￿lalkI)I 2fth orly lo tho extent rnqulred to prowde a Irue and fair vi8w. Th58 departure hai." involved IdI￿￿n0 th• Stst8ment of Re(fJmmendod Pra¢lko br th8rttl•J Op￿1n9 FRS 102 ratsr thary the ￿rSIOn of lh• Slaloment of RecoMm￿ded whl¢h 18 ref¢ff8d to kn th91i0gul8tlo￿ l)ul*fitt. h88 8lb)C8 been wlthdr8wn. T￿ ffinan(aAI $t•tements arn w•partd kn 8tertThJ. IB I￿￿tIOn￿ of the PCC. Mon81¥ry arnounts Sri these llngndal •tatery￿1$ 8ro to the nowost £. fln•n¢l•l In$trLWrn￿ •1 f*vakn. Th• pob* a&Tt•d •r• 8•t (Mrt 1.2 Go'ng COn￿M At Ihe limg of appryjving finwwl ¥tator￿ts. ￿ rr•rnbers of th¢ PCC hgv• g reasonab￿ oxp8Cta15on tha. Iht PCC h# ¥doquat• rnSourC￿ to rLffl15nuo kn opw8tK*nal QyjsteTr￿ for the ￿0808&b￿ fiJbJr¢. Thu8 tho m•.mb8rn 01 th• PCC a(k)pl IM 90ir*3 ¢orThim b8slg of accounting in Fryariw tho financ4al 8la'.6monts. 1.3 ¢harltabl• fund• Uni'¢slriel&d lunds ar• a¥allAbl• for u8• at the dlg¢r¢lkn of m•rrtJn ol th• PCC kn furfh•ranc• ol th•k ¢hirrftfjl)le obJ0¢0￿8. 0e3lgnotsd fvnd8 ccrfnMa• whkh ￿¥0 b•on 8•t 88hJ¥ 81 iho d&xetlon of th8 mothr¥ of thg PCC f sp(.'cthc purpos•s. Tho purpose8 aTrJ thg do*￿*1￿1 l￿d$ arg set out in the not¢$ to Ihe fingnci81 sta'.ements. R•"lrict•d fijnds subJ￿1 to c£mditxirvJ by dor￿ as to nw ￿ U￿d. Th pu and uses of the re8lrfcted funds ar• ¢)ut kn tho noleB lo the finandal slalernènts. En￿tr￿ •re sutlect lo speofrt csxvJlUoM by don(x8 that 11.• ¥4tal rnL*t ￿ malntaln•J by th 1.4 In¢om• Inc)m* 1$ wnl$gd wh8n tho PCC 18 legaw wtiuod to tt 8ft4r any ￿..rf0Ml0nCfr condlllon6 havp been mgt, thp aM￿Jnts can be measured ￿latsty, and rt is probatle thal incow* V•ill be rece￿1. 12- PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOUTHSEA NOTES TO THE FINANCIAL STATEMEKrs {coKriNUED) FOR THE YEAR ENDED 31 DECEMBER 2025 AccounllThJ pollcl (Cortlnu•dJ Cash dc¥w1ion8 are Ter￿gnIS￿j on recelpL Other donakns are r•cts3nwl crt¢ tho PCC has been notified of dona1k￿. unle89 pwfomwnce L)NKJrflon8 reqth defwr81 of1he am¢xrt Income tax recovoraUe Sn ro18tron to donations rKeNed undef GrftAM1 Of d8eds olcoven4nt is •t thg tlrne of the ijonation. Leuacies are wnfisolj ￿ rnceipl OT rfth8 PCC ha¥ been cl•n tnwrhding distribut1(￿, Iho anvyjnt is known. aThJ rec• is exFthI. W Iho amwt is Mt kw•m. th8 legacy ￿ tr8at&d as 8 0)ntlngenl asset. 1.5 Ewndllur• Exp8nditur• b rwl8ed th•re Is A legal or ￿tytion to transfor ¢conoml¢ banèflt lo a tNrd party. it is pmbablg that a transfer of or0￿rnk benfrllts t8quk￿ In sgtttom$nl, and Ihe amount of oblva¥tion ¢on b8 measur*1 reknabty. Eynditure Is cf8sslW by at*vity. Thè costs of agth athity are up of the tokl ol d1￿1 costs and shared IndLKllw suppx)rt co3ts inw1￿ In und￿lakIng actlvlty. Dlrect CO$ts aitrlbLrtabJe to a BIWo t￿ty 8rg alloc4ied dir•¢tty tr) that ￿￿ty. Shar•J o)Sts 7*thlch contrlbulg to morg Of&9 acuvtty glnd SUPF*)rt cost¥ which ar• no4 • Bingl• aiafvmy are apporttoned bstthwn thos0 activi4e6 on ¥ b8$i8 con$isl$nt wlth the use ol res￿re￿& Centr81 stsff costs are alh¢ot¢d on ￿ ba8fjs of spent. and d•pw.iaUon ch•ge8 8r• alocat￿ ort Iho olth• 888at'$ U8e. P4rl8h 8h8re and othor cogts dkecty r¥lathng to Ihg arKI ￿¢b￿ of lh• chu￿ ar& •cc<4Jnt•d fw when th•y ￿ incurrod (x becomo gr¥J ￿Yabl•. 1.6 Tanglbb fix•d ￿￿•t• CL*i8ecraled and b8nefic*l IJ exdAl•d frL¥n tt* act¢Aw*8 by SI0(2lla & cl ofthe Ch•,Itle8 Act 2011. Movèable thurth fuml5hlr￿ held by tho Churc*vArd8ns cl) tN5t ILY Ihg PCC end y.hich require lacuty lor disposal ofè CE Prtah'sed al cost and wrlttèn off over th&r useful ee4nomic HI• o(tr•r Ihan Vothere Inmrffidenl c08t inkJrmatk¥. L8 avalLaW. In Ihls ¢￿ th• li￿ Is not caplialw, but L8 Indudod li th• Churc*'s Inv•ntory. AU •xpgndfture Inwrgd year on c(¥￿￿1•1 or ben&fi¢• bulkllngi;, wPth•r for maintenan¢e or improvemunl. t& tMitten off as expgfKliture #nd 68paTrlety disdosed. Olhor T8ngibk• tse(l Astet: 8r• al c**t 8ubs8qwnty M￿￿red at ¢081 or Y8￿#l￿￿, nel ol dopr•dalk)n and any kn)drm¢nt10180B. Dry)Mda￿ln l• 80 as to off Ih• LY>Stor valualltsn of assots1gs8 th4r roDldual v4iluo8 o¥•r th•lr U¥ofLI on Ihe tsa￿.. Fixfur96. rrttrys & equrthjnl 10% & 20% (*) or strotyhl11 08in or loss arisiry on th? d*pJsal ol ￿ asset i¥ det•MIw￿ gs ￿ drffernnce b•tween thE. sala proceeds Indl¥Adts41 Itam8 (rfe4￿>mjftt *llh 8 vak* of ￿der £3,500 #rp wrltt8n ¢rff whwi 8e4wliad. 1.7 Flx•d ￿••t Invtstm•nts Fixed asset ￿￿stMents ye In￿8•Y measwed al trrn(*on prKe ex￿dir￿j transaction osts, and a subsequenlly m8a$ured a: fair value at eath rèrK)iting date. Change5 ￿ fair value awe wognlsÈd kn net Incon￿[•xpend￿Jrej for tr18 year. Trnnsadion o)sls are •xÈ￿Wj a8 Incurwd. 13- PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE )EAR ENDED 31 DECEMBER 2025 Accounllng poli¢1os (C•nUnu•dJ 1.8 Irwlrnwnt of r￿d a•8•t• At ea(* rek*Jlng 8nd torn and cwsh and bjnk bab8mcos, •ro Iiittklty It I￿58<￿10n wice indLwJMg tr8n6ociKJn costs and arp 8ubg¢q(th G3rri•J at wnsyts•d w8t uslng Ihfy effectbve htsrost ihe arrangernent C￿$111￿1•5 8 financing trJrrfa¢tion, where Ihfr tTansadion is m•8sur•d at the wesent Val￿ of Ihe frjturn rnr*ipts d￿C￿nt￿j at • rtwrt•t r•t• of inlereBL FknanrAal 8888ts dassmed a8 recefvablo wnhln ono ytrar ar• not arno￿50d. 8•*l¢ Iln•nel•lll•bllltl•s B881c nn8nd81 Motsllae$, br￿lUd*v￿j Cr￿￿[¥* and bonk ar• hthlty rnctTrJrd88d al h.Isoclkn ￿¢9 unlè88 Ihe 8rrntvJeTh*nl Ixin6ti1Ut￿ a financing tr•n8ocik)n. where th? dobl Instrument Is met.sured at Ihe presont vgbJ8 ol the futuffj r•ymènts d11cA)th)t￿ at 8 marknt rate crf vrtefti81. Flnandal d•s$blod 88 payAblè within one yow ar• I￿t trff#)rt18•d. FlnarK)d 1ot41th8 4r• dw•cffjnl8•d th• PCC'I ca)ntr•c￿ •yplrn x am dls¢hargod ncellgd. 1.11 Ernploy•• b•n•llts Th¢ g)st o18ny uN530d Way •ntillmnt Is in th8 porknd kn whk* IM 0mpty￿.1 8oThl¢x8 are Termlnatlon bon￿11£ ar• r•cAVIs￿ InM￿le￿￿ as an exponso whfrn th• PCC dwno*8kAy corThn￿ ¢0 lem1r￿le the wnk4¢m￿nI ol an 8nwWo or to wovKle l•MNn9ti￿ b￿fil& 1.12 R•tlr•m•nl b•n•fits Payments lo definthl benefft sd*m* 8rg Ghgryed as an exFth8C. as thty fal dL*. 14 PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S SOUTHSEA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 311)ECEM8ER 2025 In¢om• from don•tlons and knqade• Unwtrlct•d R•$￿tted fvrbd• 2025 Tot•1 Unrestrl¢t•d R•slrlctsd funds lund• 2024 2024 Total 2025 2D25 2024 Oonattms and g Grenls r•¢tived 75,604 43.538 90.779 119.142 ,779 71276 44.763 112,982 117,039 112.982 75.fAM 134.317 209,921 72.276 157.745 230,021 Grants ￿•1¥•bI* lor cor• acti¥ill•¥ Portsmouth Diocesan Boanl of FIna￿ & SDF Conldbutlon PCC Hovs•hold Support Fund FuttJr& Yotsth Dovdopment Grnni 38.7fKJ 38,7 40.243 40,243 52.079 52.079 71.339 71,339 .1,40) 1,400 ),779 112,982 112,982 Incom• Irom 4￿{vh￿¥ Totsl Unr••lrl¢t•d Rg•trlct•d lund• 2024 Tolal furbd• 2025 2026 2025 2024 2024 St Mar9•r•l'• churth •nd chuwch h•ll Saltr dgoc¥J8 650 Anrlllary lrndlng Inwm 94.357 4.018 98.375 71,466 99.099 1￿.00? 4,018 104.025 T6.5￿ 27.633 104,133 In¢om• inv•sknen¢s Llnr•strl¢t•d fvl•stricl•d fvndA fimdl 2025 2025 Totsl fun 2tr24 2024 2024 Internsl re￿1¥abl0 451 248 15- PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSF NOTES TO THE FINANCIAL STATEMEPITS (coKfiNUED) FOR THE YEAR ENDEL) 31 DECEMBER 2025 In￿m• Unrn#trlat•d UTrr•strkt•d funds nd• 2025 2024 other IrK¥me 1,274 757 M•rgJr•t'• M•rg•r•fi church and church •nd thurch h•1 ¢hur¢h hal 2025 Dlr•ct co•1• Stsff costs Doprotsalbn Inwalmi•nt Pwi8h quots CIKJffh buildlng Communlty ¢4f•, soft P￿try Miss￿ft •rKI SUPFKMt Clwrch managem•nl •)d adminrJtr• 67.108 14.317 18.057 104.905 16,297 $3,609 17,537 ,171 71204 11,881 17,279 58.423 18.347 48.499 15.S79 12.579 301,001 251.771 s￿r• ol •upport •nd 9ov•rn•nc• ￿￿ts {M• not• n G0￿manCe S.480 4.580 306,461 25t.331 An•ty•l• by fund Unr8strfct8d fund$- g•n•r•l Rest￿ fundB 161,946 144.515 1&.887 12',,844 306.461 25E,'.331 16- PAROCHIAL CHURCH COUNCIL OF ST MARGAREf's SOUTHSEA NOTES TO ThE FINANCIAL STATEmE￿rs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER.'ffj25 Support costs 2024 Indep8rkdenl Examiws f•88 4,560 4.$60 Charhable act￿11168 4,580 Th¥ IndepoThlent •x•mlrws f•gs ft¥r tr* 8xamlnatKm of lh• aixtyjnts tAvo £1200 {IrnI￿l1r￿j v¥ll, oth M•mb•r• OlTh• PCC Nono ol th• ffl8mtw¥ ol th& PCC {Of any o)nr*Ltsd th•ml r￿thd any romunerallon ( oyns•8 As a PCC rn•mb8r during fv yaar. Stipe￿ we(• p8ld by th• Churc* vAhiA Church ol E￿I￿nd siwidkqry gukJ8lne8. Employ••* T￿ averngo monttrty nufftsr ol*oyg98 ¢knlng thg ye8r w88: 2025 Numb•r 2024 Numb•r Employm•nl co•ts 2025 2024 Wagtss and salarf•$ othor pfrns￿n co8ts 70,747 457 67.108 71,204 17- PAROCHIAL CHURCH COUNCIL OF ST MARGAREfs SOUTHSEA NOTES TO THE FINANCIAL STATE.IIEKrs {copiriNUED) FOR THE YEAR ENDED 31 DECEAIIIER 2025 Employ••8 {Cortlnu R•mun•ratlon ol k•y mwMg•m•nt i)•r•onMI 2024 Aggregalt Convu￿8th)n 23.882 33,661 10 Galm and los¥•* •h IM•bn•nts ErMlowrn•nl End•wm•nt 1025 2024 GaIn￿{bU0￿1 •ri￿ng on.. R•vahJalix ol Inv08tm 372 11 Tu•tlon The charity is exempt frcffl taxth on Its a(Irkns becau￿ all As incom¢ 1$ 8PF4i8d for th8rftabl8 purpo8 12 Tanglbl• fix•d a•••l• Vlxlvrn•, fftllnp & Co•t At 1 Jgrwry 2025 AthJltlon8 81.084 31,500 At 31 DoC•m￿r 2025 92.$84 D•pr•¢l•tlon •nd Imp•knwnt At 1 jar￿￿ry 2026 14,317 At 31 Dxember 2025 52,801 C•rrylng •nwnt At 31 December 2025 39.783 At 31 December 2024 22,6CKJ 18- P,IROCHIAL CHURCH COUNCIL OF ST MARf3AREfs SOUTHSEA NI)TES TO THE FINANCIAL STATEMENTS (CONTINIJED) R)R THE YEAR ENDED 31 DECEMBER 2025 13 Flx•d a88•t Invesbn•nts Unll8l•d Inv•*tments C¢>¥t or v•luatlon At 1 Jawary 2025 V81ualion changoB 15.403 1,3CM) At 31 DK•mb•r 2025 10,703 C•rrylnp •m¢)unt At 31 December 2025 18.703 At 31 D•c•nber 2024 15,403 14 Dthor• Amounlj f•lllng du• t*lthkn on• ￿. 2025 2024 Tradg dabtor Other (l•bto Pr•payThnts and ac¢Ned fin￿m• 2.340 5,750 15,OC¥) 1.682 22.432 15 Cr•dllo 7: •mounts hlllng du• Wlthln on• y•Ar 2025 2024 Ac(Yu￿1. and defwred kK¢m• 18,111 5,540 16 EndO￿n•￿ fund• Endowr7•nl luThJs repr88ent •98ets wthi¢h rn￿1 b8 held ty the Ifc. Inccm• arl¥ng on tho ndown4ent lunds ¢an bo usod in a￿arKe the otprts of Ihe PCC ts as unrestrhx i)como. kny ¢¥pltsl 98ins or los¥s arisiro on lh• assets fm pgrt d the fvThl. At 1 Janutry 20?5 GMln¥ and loB•t8 At31 D4￿mbor 2025 P•miai:•nl endtyknwnts Ben$fio.,Aug￿nt81I)n Fund 15A13 16.703 19- PAROCHIAL CHURCH COUNCIL OF ST MARGAREf's SOUTHSEA NOTES TO THE FINANCIAL STATEMEKfs {COllTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 11 Endo*iMnl lund• Iconllnued) Pr•vlou• y•ar. At 1 J*n¢wy G•kns and A131 D•￿fftb•T 2024 P•rnian•nt•ndvAYn•its 15.031 372 15.403 Th8 eapltsl of thL8 fund Is rnt avallth k* t￿ PCC Ixrt the Inr*)me from tt may b• by thts PCC for Ifs general purFQSOS. 17 RMtrlct•d fund• restrictsd fimds of the th*rity cgryis• the un8xpended b*nc*s d d¢￿tic￿l and gr#fi￿ on In*1 $iJJ5•cl to 8Podf* t£•￿￿t￿nI by as to may ￿ ￿￿. Atl JMuary Incomlng R•swrc•• Tran•f•rn Gth• •md At31 D•Mmb•r 2023 Dioc•88n Straleg D•veloprrvJnl Fjnd P3nty BLJilding Fund RJ)f Fund- Ljilèry Selar Panel Funding PnC- Soft Play 38.7LXI 63.988 23.958 {6.856} 169.77n 156,7341 32,842 43.289 17,515 57.078 61,078 (8,(W) 1787) 19.700 11.3131 18.387 13.fKKII Fdture Youth Covelopmnl r.min 5.148 15.148) 16,998) 130.8 138.792 1144,515) (13.1(N)) 112,033 PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S SOUTHSEA NOTES TO TH- FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 17 R•ffjtrf¢t¢d fun Icontlnued) PrnvI0￿ ￿r. At 1 J•nu¥ry Ineomlng RM¢)urcu TTrn•f•rn 2024 r•swrceg •xp•ndgd G•ln• •MI At31 2024 Dlocesan Stral•g Fund Panty R¢xJl Fund Roof Fund- Lottery Sc4ar Pw•l F￿dIThj PCC- Soft 43.080 112.103 (43,080) 1872411 16,123) 42.482 47.858 {30,2661 57,078 51.078 19.7(XJ 19.7C Futuro Y(xth Dgvgkpment 13.IXKJ) (5.2(K)) 1￿,140 185.626 1121,644) {33,268) 130,856 The StrAtegic D•v•loF*n&nt Fur#1 hos prOWld￿ for ¥1off op•r8ihJn$ and buildtng work. Portjmouth Clty Coundl £15.Otxi tow•nls th• pn>vlth ol a 80ft F4ey ar•a *41hkn tn• St Marpar•f8 ¢hurth. Th• transfer to unr•Btrthd fund rnt¢*o8 lh• depr￿￿tr￿ th•rg•d. A pantry W•8 0st9b￿"S1￿l In 2022. Gwls were f•c4￿￿ frcm Port8fbKwth CNY CtMcl. Don8kns and a knggcy i.ver• for rty)I rw)alrn. Th• r(￿T￿O￿8 w•r• In 2W25 and th• so*r p￿16 W8ro in8lalk4d byAwl 2025. DO￿lon8 of £5,148 ￿re funds 4 Ywlh Intem. A fvrthe¥ £8.998 wa• rocavgd In Ih• yeer lo he￿ furNJ FAln(8ty IT T•c -21_ PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S SOUTHSEA NOTES TI) THE FINANCIAL STATEMEKfs {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 18 D•slgnat•d l￿d$ Th2 urwestrith funds of th8 thity unexpwKknJ balanc$$ (rf dona16ons erKI grents whlch ar noi subjeLt to sp?￿fiC condth'ornry by th)n￿ ant1 gvantors as to how they may be used. The8e irthde de8tgnated futh wP#¢h h•%* been asKle (Art ol unrestwkted fvr•Js by the irustee8 ftjr ew¢ific purp￿8. 8aknrK•4t J1 D•Mmb•r 2021 1 2•2S Flxod A8W FWKI 23.120 13,520) 19.8Crf) 19.2151 10,385 23,120 13,5201 19,800 (9,2151 10.385 19 An•￿th of n•t a¥••l• b•t1￿•n lund¥ Unr••trlcl•d Unmtrlet•d Rmtrlctad Enthwm•nf. fund• fvnd• fvnd Totsl 202$ 2Q25 2025 2025 2025 Fund b•l•n¢M at 31 D•c•mb•r 2025 r•pr•••nl•d by: Tangib￿ a889ts In¥e6tmenls Curr¢nt a88•lsIlTh'8￿1￿68) 10.385 39.783 16,703 208,195 16,703 125.560 82.635 125.$60 1Q,385 112.033 16,703 264,681 Totol fund• funds dMlgnat4d 2024 fund• fvnd 2024 2024 Fund b•knneM •'. 31 D•c•M￿r 2tr24 r•pr•*•nl•d by: Tanglbk 8884ts Invostrnenls Currsnt AS80ts11li tAIllB81 19.800 22.600 15.403 215,518 15,403 87.662 127.856 87.662 19.600 130.856 1S,403 253,521 PAROCHIAL CHURCH COUNCIL OF ST MARGARETS SOUTHSEA NOTES TO THE FINANCIAL STATEMEKfs (CC)NTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Thgr• w8ro no 1￿ck￿aLle rela￿ F4ty tran8a¢k¥w Juri￿J th? year12024. I￿). -23-