Unaudited Financial Statements for the Year Ended 31 December 2024 for The Parochial Church Council of the Ecclesiastical Parish of St James the Great, Colwall (St James the Great, Colwall PCC) REGISTERED CHARITY NUMBER: 1192443
ST JAMES THE GREAT. COLWALL PCC Contents of the FFnan¢ial Ststements for yèar ended 31 December 2024 Pa9e Report ofthe TnJstees 1 to 3 Independent ExamFn•es Report Statement of Flnaneial Arti¥ities Balance Sheet Notes to the Financial Statements 7 to 13
ST JAMES THE GR&4T, COLWALL PCC Report of the Trustees for the year ended 31 Decemb 2024 The trustees present their p(#t aThJ the unaLlIed financial slaternents of The ParrKhkg1 Chutch COLtnC of the Ecclesiastical Pansh of St James the Gat, co311 1st James the Great. co811 pcc) nhe charityl for the year ended 31 December 2024. The Parochial Church Council Is conslrtuted attording to The PCC IPowefsI Measure 19. arKI The Church Representation Rules (Amendment) Resolution 2009 as 8uthorised by Ihe Syncmjical Govemment measu 1969. Its finanoal operab'on is in accordance with the Church Accounting Regulations 2015. whith define the relats"onship to the requirements of Ihe Cha¥Tiies Act. 11 I Registered Charity Nc) 1192443. It has the responsibility of COperal1ng with the inoJmt*nt in pFomob"ng in the ecdesrastical parish the whole mission of the Church. pastOTal, evangelistic. sooal and ecumen1. It also has maintenar¢e resp)nybilitses lor the Church, The House. Sl Crispin's Chapel and ass(Kiated tIlding$. Trustees Members of the PCC are ex officio. elected by ihe Annual Parod)1 Chijid) Meeting. or ctsopted by the PCC. in accordance wrth the Chuith Repsentation Rules. The PCC is (thaired by the Incumbent. Incumbent: The Reverend Prebendary Mdanie Horton Curote.. The Reverend Andrew Falix)neT Reader.. Mr Andrew Richardson After the Annual Parochial Churth Meeting on 14 Apn'l 2024. the followtng served as members ofthe PCC Church Warden: Mr Martyn Steer A8Ststant Church Wardens". Mr William Clucas Mr Steven Hctkett Mrs Carolyn Hands Mrs Jane Hill Mr Stuart Hands Isecrelaryl El¢¢ted Lay Members of the PCC.. Mr Marcus Allen (resigned 1 June 20241 Mrs Christine Bagust Mrs Joy ColOn IDeanery Synod fepresent8b.vel Mr John Doswell (resigned 1 September 2024} Mr Richard King ITasurer unbl 20 October 2024} Mr Michael Hakes Mrs Susan Humphrey (Deanery Synod vepTesentali¥e) Dr Jonanthan PeaieÉ Co-opted Member of the PCC.. Mrs CL4ire Pearson ITreasurer, appc¥"nted 20 0(lotH 20241 Prlnclpal addrè The Rectory Walwyn Road Colw811 Malvern Hereftsrdshire WR13 6EG
ST JAMES THE GREAT, COLWALL PCC Report of the Trustees for the year ended 31 December 2024 Worship and Prayer The PCC is keen to ernSu that thè worship at St James the Gre8t is as incluslve as possible and we réfl¢¢ted on models of inc1uswity in our café style worship in August. More work is planned the year ahead with a pa¥ish away day. As ever, we have worshiped regularfy together. celebrating the seasons and the high days and holidays as wdl as the everyday to maintain a regular heartbeat ol prayer lo underpin all that we do." allowing time and space lor God to touch us collectively and indwidually and to energise us for the task ahead lo live a5 God's peop In this place There have. ol course. been some particular highlights worthy of nc>le. In June we cèlebrated with our Curate, antsth$r milestone of his ministry as he was ordained priest and his first opportunity to celebrate the Eucharist", June saw us shanng in a pet blessing service- mostly dogs it must be said bLrt a few cats and other pets attended by proxy1 In July we hosted our brothers and sisters from St Jam&s, Aston lor th8 rslebration ol St James. August saw th8 two-day ciaft festival and a5 a result we worshipped in the Ale House", October markeil Harvest Festival and the resttsr8tK>n of the celebration of St Crispin. All are welcome to attend our regular servIs. At present there are 98 paiishioners tsn the church electoral ioll. The average weekly attendance is between 50 and 60 In¢reasing lo more than double that at the maioi fesliv8ls. The church is open in daylight hours and is regularly used by members of the local community for prayer or quiet time. Pastoral care and Community Engagement Members of the church family who are no longer able to attend services are offered home communion and CUrntY this is being delivered lo seven people by our Iic6nsed pastoral 16ader, thè curate and the rèadèi. Pastoral visils are undertaken by the clergy as needed. We continue lo support the village loodbak and also the provision of a monthly café lor people living with dementia and their carers. Vle aSso help two local schools with the provision of Christian worship and delivery of elements of the RE curriculum. The clergy run a drop-ln afternoon each week in a local c21é. Our curate ha5 insllgaled a rnonlhly"Men's Breakfast. offerlng an excellenl cooked bieakfast and interesling 5peakeTS in a local pub and thi5 has proved extMelY popular with attendees from both within and outside our regular congregation. Our parish magazine is distributed monthly to about 490 households and is available in Ihe1ocal shops as well. The magazine intorms peOe of all that is going on in church and the wider community. It is also a valuable tool for buikling community relationships. The church also has ils own active website and Facebook page. Financial review The ye3rfs Financial Accounts show a deficit on nStricted income and expenditure of £10,93112023. surplus of £4,2351 before fund Ir8ll8fers and the revaluation ol fixed asset investments. The main reason for the decrease was from lsgaciès ieceived in the pnor year of almost £12,750 compared wilh £1.OCKI in 2024. Planned giving was also less than in 2023. Costs were very similar to 2023. Funds previously desi9nated by the PCC for spe¢rfic purFoses. but nol legally restricted. hawe been redesTrgnated. The Flower Fund remain5 ufiaffeded with a balance of £1,329.. Admiral's Calé now has its own lund1£1,5431. The other c)5d, de51gnaled fun(5$ have been combined into the Improved Facilities Fund. The PCC has designated a total of £40.000 to help fund the itllproved facilities and thus £30,389 has been transferred from the unrestricted General Fund Iformerly known as the Fabric Fund). Restricted incorne was up trom £17.481 in 2023 to £50,776 in 2024. As was Main the case last yéar, this in¢ome compnsed grant5 for the repairs to the church roof. As expected. the roof repairs were completed in 2024 so restricted expenditure was much increased at £71.417 compared with £2.831 in 2023 Fundraising aclivities (raising approximately £S,OQO and recorded in unrestricted funds) covered the deficit on the fund left by these costs and was transferred al the year end leaving 8 £nil balance in restricted funds. l*westments are held in pitsfession8lly managed funds ifi order to generate a long-terrn total return of UK CPI plus 3Vo on a lowlmedium risk basis in order to provide additional resources for the church. Revaluation net gains for 2024 were £2,312 down Irom £5,115 the previous year In accordance with the Charit5 Slalement of Recommended Practice ISORPI, funds invested with CCLA Investrnent Management Ltd for many years, wrth the purpose of generating income, have been dassified as fixed asset investments. The resèrves Oicy is to hold approximately four months, normal income in reseNes, currently amounting to approximately £3CJ.ODO. Actual free iesetves. exduding the Iixed asset investmenls in market securities at 31 December 2024. amounted to £4.86412023. £46,185) as £40,000 has been designated for the church faalities improvemenl project. Page-2-
ST JAMES THE GREAT. COLWALL PG Report ofthe Tnjstees for the èar ended 31 December 2024 Statsrnent of trustees. SponSibl11t1s The Charities Act 2011 requires the trustees to prep8re finarKial statements for each finan(ial year Under that law the trUstS have ppared the finanual statements in accordance wilh United Kingdom Generally Awpted Accounting PraCte (United Kingdom Accounting Standards arKI applicable lawl. The finanual statements are required by law lo givè a true ar fair view of Ihe state ol affaits of the charity and ofthe u$ or fiCat of the chatty foi that period. In preparing those finan081 $18temenls the trustees are required to". select suitable cOUntsng po14oes ar apply them Gonsistentty.. make judgements and estimates that are reasonable and prudent. follow appliGqbJe accounting standards and the Charities SORP. dioSIng and explaining any departures in the finanoal 5tstements', and prepare the financial statements on the gomg (x)rKem basis unkss it ts inappfopriate to assume th the charty will continue in operation. The trustees are responsib for kee"n9 )nb"Ag records whlch disdose. wilh reasonable aur8¢Y. the Iin8nci31 posrtion ofthe ch8nty at any time. and for ensunng thal the frnanryal statements comply wth chaftty law. The Iruslees are also reswnsible ft)r safeguarding the charrty's assels. arKI hence for takirvJ Teasonable steps lor the pventn and detection of fiaud and other irregvlarrt*s. Approved by order Oftt board of twstees on 4th Mard) 2025 and sbJned on its behalf by". R. Preb. M.J. Horton Trustee Page.3-
IndeIK1#nt èxaminerfs report to the trustees of St James the Grea( CoFwall PCC Independent exami$ Yeport to the trustees of The Parochial Church Council of the Ecclèslastical Parish of St Jame¥ the Grea( Colwall I report to the charity trustees on rny examinati of the accounts of The Parothial Churth Couwl of the Ec£lesiastical Parish of St James the Great, co311 (the TTUSt) for Ihe year ended 31 December 2024. Responsibilities and basis of report As the charily Irkjslees of the Trust yoij are fe6PfmSit)le for Ihe weparation of the ac(x)unts in aw)r(18nce with the quirements of the Charities Act 2011 Ilhe Act). I report in respect of my examinati¢)n of the Trust'5 aCunts canied out L¢nder Secton 145 of the Act and in ¢8rrying out my examination I have folhxed all th"Feions gNen by the Charity Commtssion under Section 14515llbl of the Acl. Ind•pendent examinerfs statemènt I have completed my examination. I cA)nfirm that rK) material malteTS have come to my attention in Connecti with Ihe eKamin8tion giving me cause to believe that In any material respect. accounting records We tK)t kept in respect of Ihe Trust as required by sect 130 of the Ad," or Ihe accounts do rK)t accord with those reths". or the 8woiJnls do not wrth the applilzble ¥equirements corteming the form and contènt of accounts set out in the Charitres IAccounts and Reportsl Regulations 2W8 othef than any reqU1ment that the accounts give a true and faiT view whith is nol a matter consideTed 35 Part of an irylepeThJent examination. I havè no ¢onceins and have corne auoss no other matters in connection wrth the examination to whKh attenb.on should be drawn in this reFort in order to enable a proper underslarKling of the accounts to be reached. L 26LS Greendawn Accounting Lld IA I'he Hjmend L4YfbLIry HerelorL*liire HR8 1814 Page-4-
sr JAMES THE GREAT, COLWALL PCC Statement of Financial Activities For the year ended 31 December 2024 2024 Total funds 2023 Total funds Unrnstricted D¢signated funds funds Restricted funds Notes Incomè from Donation5 and legacE5 Church activth'es Activities foT generatin9 funds Investm8nt income 2a 2b 2c 2d 658 321 50,776 118,(X)2 5.740 16.738 3,019 .432 9,686 16,743 2.546 5.419 16.738 3.019 Total 91.744 979 50.776. 743.499 125.407 Expenditu on Raising fijnds Church activities 6,913 95.762 6.913 167,911 3b 4,601 101.625 732 71.417 rotal 102.675 732 71,417 174.824 106.226 NET INCOMEIIEXPENDITUREI {10.931) 247 120.6411 131,325} 19,181 Transfers ttheen funds I,369) 25.185 5.184 Other reco9nised gainsllk)ssesl Gainslllossesl on revaluation ol fixed asset investments 2,312 2.312 5,115 Net movemènt in funds 138.988) 25,432 (15.45n 129.0131 24,2 Reconciliation of furtds Total funds brought forward 13 123.891 17.440 15.457 156.788 132.492 Totsl funds carried fonvard 12 42.872 127,775 156,788 Page-5-
ST JAMES THE GREAT, COLWALL PCC Balance Sheetas at 31 Decernr 2024 2024 Fixed assets Tangible assets Investments Not•s 2023 1.195 80,039 81.234 77.72S 77,726 Current assets Debtors Cash at bank 2.818 52.837 55,655 1,531 87,222 88.753 Credito Amounts falling due within one year 10 19.1141 19.6911 Net current assets 46,541 79.062 Total assets less current liabilities 127.017 156,788 NET AssErs 127.775 156,788 Funds Unrestricted funds Designated funds Restricted fvnds 11, 12.13 84.903 42.872 123,891 17.440 15.457 Total lunds 127,775 156,788 Free raserves 4.864 46,165 The financial stater1lS were approved by the Boawd of Trustees and auth)rised for issue on 41n March 2025 and We swned on its behaK by." M J Horton Trustee P C Pearson Trustee Page-6-
ST JAPAES THE GREAT, COLWALL PCC Notss to the FÉnancial Statwnents for the year ènded 31 December 2024 A¢¢ounting polic$ Basis of pparing the financial ststements The finanaal statements have been prepare(l in acrA>rdance with the Church AcUnting Regulations 2006 logether with Ihe Chanties SORP IFRS1021'Accounts"ng and Reling by charit$" Statement of Recommended Practi appli¢able to charities pParig thwr accounts in &cordance wth the Finanaal Reporting Standard 102 'The Finanryal Reporting Standard applicable Jn the UK and Republic of Irelan(J IFRS1021 (effective 1 January 20161,. Financial Reporting Standard 102'The Finarrial Reporting Standard appli(2ble in the UK and Republic of Ire18nd' and the Charities Act 2011. Thèfin8ncial statements have been ppa u1wjwtt historical cost conventM)n theexption of Investments which are induded at market value. The financ¢al statements IrKIle all transac"ons. a55ets an(1 l1ats1es lor which Ihe PCC is responsible by law and have been ppared usin9 the accruaL8 methcKI of accounting. Financial reporting stsndard 102- reduced diselo¥ure exemptions The charity has taken advantage of Ihe followng dtsdosure exemplions in prepanng these finarrial stat6ménts. as permitted by FRS 102 The Financial Repoth'NJ StsrKl8rd applicable in Ihe UK and Republic of Ireland." the requtrements of Section 7 Stalement of Cash F5.. the requirement ol paragraph 3.17ldl'. the reouirernents of pafagraphs 11.42. 11 44, 11.45. 11_47. 11.481alliiil, 11 48lallivl. 11.48lbl and 11.48lcl. Fund a¢¢ounting Unrestricted Funds present the remaining itxome funds that are available for spendirvJ on the general purposes ofthe PCC. Designated lunds are general funds set aside by the PCC for spendirKJ on a fvture projed and which are therefoi not included in its'free reserves. 85 disdosed in trustees, ¥eport. Designated funds remain nstrICted and any surplus will be moved to other general fvnds. Restricted Fur$ are (knations grants for a wific PCC 8NIty inteThJed by the donor. Inci)min9 resources Planned givin9, cdleclions and simiki dOnatS a rec(MJnised when received. Tax recoverable on Gift Aid donations is recognised in Ihe period in which the qualifying donations are received Grants an¢J legaae5 to the PCC a accoL5nled for as soon as the PCC is nokn.fied (rf its legal enty"tlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonatdy certain. Dividends 8nd interest are accounted for when reTrived All incoming resources are accounted ft)r gloss. Unrealised gains or bsses afe arAx)unted for on revalUab of investments at the year erKI. Resources expended Grants and donations are accounted for when paid over. or when awarded. il that award creates a binding or constnJctive obligation on the PCC. The dioTrsan parish share expected to be paid over is accounted for when due. A11 olher expendrfure is generalty reixjgnised when it is incutTed and is accounted foT gfOSS. Tangible fixed assets Corjsecrated benefice property is nol inthjded in the accounts in a(X0rdan w¢th StK)ft 10121{al and Icl of the Charities Act 2011. Tangible fixed assets are capitalised rf they can be used for more than one year and ¢st 8t least £SOO. Depreuation is G3lculated tovrtiie off the capitalised cost of fixed assets ress their currently anliopated residual fair value over th•r estimated JJseful Itves as fdkws.. Land Fixtures & Frtbngs Computers 8nd audio visual equipment 20 years 4 years P39e-7-
ST JAPIIES THE GREAT. COLWALL PCC Notes to the Financial Statements for the year ended 31 December 2024 . ccmtinued Investments in market Securities Investments are basic financial instruments. initsally rec(yJntsed at transa(*"on value and Subsequently measured at fair valL¢e as at the yeaF-&nd. The statement ol finanaal actswtie5 includes net gains and losses arising on revaluation and disposals. Short tèmi deposits These are cash held on deposit at the bank. ReseNès The reserves p(Aicy is to hokl approxinately fwr nv)nths' rH)rmal income in serVeS. currenuy amotsnling to approximately £30.000. Fixed asset investments are hdd foi the Ig lemi and ale therefore excluded from free ieserves which comprise Ihose unrestricted funds vthich are unenaJmb8ied anlIntS represented by cash and debtors less liabilities Actual free reserves. exduding the investments in market securities at 31 December 2024, amounted to £4,86412023'. £46.1851 as £40,(XX) has been desionaled foi rhe church lacilities Impiovement project. Value added tax The Charty is not giStered for VAT a1 acoMdir¥Jty. where applicablè. all Costs and expendrturè inwrred are ac(x)unted for indusNe of VAT. Taxation The ¢h81ty is exempt from tax on rts Charitab actMb"es. Page-8-
ST JAMES THE GREAT. COLWALL PCC Notes to the Financial Ststements for tt year ènded 31 December 2024_ continued DortionS and rega¢$ 2024 2023 Planned giving Tax recoverable Grants Legacies Roof appeal Other 36.726 14,210 50.776 1.000 41,493 12,330 2,250 12,750 14,768 12.841 15.290 118.(X12 .432 2b. Church actlvlt 2024 2023 Fees lor wed¢Jin9s and funerals Other 5.379 9,686 5,740 9.886 Fundraising 2024 2023 Coknall Clc¢k parish magazire Alehouse Other events 7.737 1.843 7.158 16.738 8.173 5,202 16,743 2d. Inve¥tment In¢ome 2024 2023 Dividends Depowi account interest 1.177 1,842 3,019 2,546 2.546 Cost of fundraising 2024 2023 Colwall Cl<x* parish magaziné Other events 5.559 1.354 6,913 4.281 320 4.601 3b. Church activities 2024 2023 Missionary and charitsbse gNing Parish shafè Other ministry ctsstS Church running and maintenance Roof repair Churchyar(S costs Adrninistratio Muwc Service costs Alehouse running costs Adtniral's CAfe Oepre(iation &)rial experlses Independent examinerf5 fee Sundry 2,676 51,804 3,990 11,781 71,417 1.303 13,709 3,491 1,470 2,721 393 399 612 216 1,929 167.911 2,450 51.8CkS 1.913 10,358 4,354 12,530 2.862 1.138 3,328 336 667 216 9,669 101,825 Page-9-
ST JAMES THE GREAT. COLWALL PCC Notes to the Financkl Statements for the year ended 31 Lknember 2024- eontinued Trustees. remungration and benefits Payments to dergy. PCC member5 aThJ rdated paibes 2024 2023 Payments in respect of seNices as organists Payments in SpeCt of administration services Contribution to r8ctorfs cost in h8ating parish Olf 2,115 10,980 1,600 2.424 10.356 1.600 No payments other than Ihose Klentrfd above were pahl to any olher PCC Mem[. persons dosely connected to them or related parties. Staff costs During the year the PCC employèd one part-tin parish administrator. 2024 2023 Adrllinistration Ernployers, national insura¢Ke less eOyMent albwJnc Pension contribulions 10.980 10.356 Total 10.980 70.356 The average monthty number of èmployees during the year was as Idlows: 2024 2023 Administrative slaff No employees recebved em¢Yuments in excfiss of £60.LKKI. Transfe betsveen funds Balance at year end before tralferS Trdn$fers Closlng balance Unre$trictsd Designated General fund Flower fund Admiral's C8fe èells Organ fijnd Friends of St. James Improved tscAlitI'es lund Rcx)f fund 115.272 1.329 265 1,912 5,331 8.85) 130,3691 84.903 1,329 1,278 11.9121 15.3311 18.8501 Restricted 40,000 5.184 The PCC has designated £40.( to help ftjnd the improved churth knlities. This sym has been provided by the allOCatIon ol the Organ lund. Friends ol St. James lund aThJ the Bells fuThl wilh Ihe balan(* coming from the General fund. Admiral's Café funds whth have preMov51y been held th in Ihe General fund now have their 4)wn designated fvnd. The roof paIrS, now completed. cost £5.1e4 nre than was aValJa in the fund. Thts bajance has been transferred trom the Gener81 fvnd. Much ofthis sum was provided by fvndraising in the year by mernbers of the congregation however, this was not spectficalty sIned for roof repairs, herte its appearance in the General fund. Page-10-
ST JAMES THE GREAT, COLWALL PCC Notes to the Financial Statsments for the year ended 31 Dec•mber 2024- continued Tangible fixed assets Computers and audio visual equipment Co¥t At 1 January 2024 Additions in year At 31 Oecember 2024 1.594 1,594 Depreciation At 1 January 2024 Charge for year 399 At 31 Deceml)ef 2024 Net book value At 31 t)ecember 2024 1195 At 31 D&ernber 2023 Fixed asset inveslments Investments cyin&st of the folk)wing'. Valuatlon at 31 Valuation at 31 Unrealised December 2024 Dècember2023gainllloss for year) In the CBF Church of England InvestrTnI Funds Shares and long tem deposits 80.039 77.726 2,312 Total investm1 at 31 Owxmber 80.039 77.726 2,312 Debtors.. amounts falliry due within one y•ar 2024 2023 Income lax recI)verae Cxher debtors 2.495 323 750 781 2,818 1,531 Debtors all relate lo unrèstrKted funds 10. Creditors.. amounts falling due within one yèar 2024 2023 Mission- tharitable ¢Jonations Piepaid co311 Clock subscriplh)ns and adverts HMRC Other 5.789 1,500 549 1.276 4,313 1,850 3,528 9,114 9,691 Page-11-
ST JAMES THE GREAT. COLWALL PCC Notes to the Financial Ststements for the year ended 31 D8e•mber 2024- eontinued Funds The iestricted fund is the Roof Fund. The repair5 have teen completed so the balae 1$ now zero. The designated fun¢ts are the Flvw FufMI and the Admiral's Café Fund as well as Ihe Church Farylities Impiovement Fund". the PCC has alkncated £40.rxxJ tl* General Reserve for this projactwhith it antIpate$ will commerKe in 2025 12. Summary of fund movements Opening balance at1 January 2024 Incoming Resour Inweslment Transfer resources expendod gains beeen funds Clostng balance at 31 December 2024 Unfestricted General IDesignated Flowef Admiral's Cafe Bells Organ FrndS of Sl James Impr(Ned facilities Restricted Roof 123,891 91,744 {102.675} 2,312 130,3691 84,903 1.347 321 658 (3391 (3931 1,329 1.543 1.278 11,9121 {5.3311 18,8501 40,(¥XI 1.912 5,331 15.457 50.776 (71.41n 5,184 Total 13. Analysis of net assets bets¥eèn fvnds 2024 Total funds 2023 Total funds Unrestricted funds Designated funds Restricted funds Fixed assets Investments Cyrrent assets Current liabilities 1.195 80.039 12.749 9,080 1.195 80.039 55.655 9,114 77.728 88.753 42,9 341 42.872 127.775 156.788 Page 12-
ST JAMES THE GREAT. COLWALL PCC Notss to the Financial Statements for the year ended 31 DeCemr 2024- continued 14. Comparatives for the statement of finan¢i•l activities 2023 2023 Totsl funds Unrestricted Designated fund$ Restricted fvn(ts In¢om¢ frorn Donations and legarks Church activrties Activities for generating fuThJs Invèstrnent inoyne 78,951 8.945 16,749 17.481 96,432 9,686 16.743 741 Totsl 107.185 741 17,481 125.407 Expenditure an Raising funds Church activrties 4.FA11 98.349 4.601 101.625 445 2,831 Total 102.950 445 2.831 1{.226 NET INCOMEIIEXPENDITUREI 4.235 14.650 19,181 Transfers bot1n funds Other recognls•d gainslllossesl Gainslllossesl on revaluation of fixed asset investments 5,115 5.115 Net movement in lund¥ 14.650 24.2 Reconciliation of funds Total fun¢Js brought forward 114.541 17.144 132.492 Total fun(ts carried fonward 123.891 15,457 156,788 Page. 13-