Unaudited Financial Statements for the Year Ended 31 December 2025 for St James the Great, Colwall REGISTERED CHARITY NUMBER: 1192443 Page-O-
ST JAMES THE GREAT. COLWALL Contents Page Report ofthe Trustees Independent Examlner's Report Si?tement of Financial Activities Balance Sheet Nottss to the Financial Statements 7 10 12
ST JAMES THE GREAT, COLWALL Report of the Trustees for th6 yèar •ndèd 31 December 2025 The tiustees Pf8S8nt their report and the unaudited linancial slalernents ol The Parochial Church Council of the Ecclesiasti¢AI Parish ol St James Ihe Greal. Colwall (St James the Great, Colwalll I'the charity",) lor Ihe year ended 31 December 2025. The Parochial Chureh Council Is consliiuted according lo The PCC (Powersl Measure 1956, and The Church Representation Rules (Arnendmenll Resolution 2009 as authorised by the Synodical Govemment Measure 1969. Ils financial operation is in accordance with the Church Accounting Regu181ions 2015. which define Ihe relationship to the req(Jiremenls of the Charities Act It is Registered Charity No 1192443. It has the responsibility of co-operaling with the incumbent in protHoting in Ihe ecclesiastical parish the whole mission ol the Church. pastoral, evangelistic, social and ecumenical. 11 also has maint8n8nce responsibilities for the Church. The Ale House, St Crispin's Chapel and associated buildings. Trust Mernbers of the PCC are ex officio, elected by the Annual Parochial Church Meeting. or co-opted by the PCC. in acffirdan with the Church Representation Rules The PCC is chaired by the Incumbent. Incumbgnt- The Reverend Prebendary melan Horton Curate.. The Reverend Andrew Falconer After the Annual Parothial Church Meeting on 14 April 2025, the following served as members of the PCC hurch Wardèn: Mr Martyn Steer Asslstant Church Ward?n$". Mr William Clucas Mr Steven Hockett Mrs G8rolyn Hands Mis Jane Hill Mi Stuart Hands (Secretary) Ele¢ted Lay Members of the PCC.. Mrs Joy Conlon IDeanery Synod repr&senlativel Mr Michael Hakes Mrs Susan Humphrey (Deanery Synod representativel Dr Jonanthan Pe8rce Mrs Claire Pearson (Treasurer) Mrs Patricia Hockett Cowopted M&mb8r5 of the PCC: Mr Keith Pieri {appointed 20UI January 20261 Rev'd Lynne Sparkes lappointed 13tr May 20251 Principal address The Rectory W¥lwyn Road Colwall Malvern Herefordshire WR136EG
ST JAMES THE GREAT. COLWALL Report of the Trustees for the year ènded 31 December 2025 Worship and Prayer The PCC is determined that worship at Sl James the Great is as inclusive as possible and we reflected on niodels ol InclLJSlVity at 8 parish away day In October.. we will continue to focus on the best Way to embed models ol inclusivity into all our systems and worship. As ever. we have worshiped 9ladY together, celebrating the seAsons and the high days and holidays as well as the everyday to maintain a regular heartbeat of prayer lo underpin all that we do. Allowing time and space for God to louth us collectively and indivKlually and to eneigise us for the task ahead to live as God's people in this pla. There have, of course, been sorne particular highligms worty of note. In June we hosted a service Celebrating volunteers across the Deanery who keep the worshipping life ol our churche5 active,. July saw us hosting our brothers and sisters frotn SlJ8ffle8, Aston lor th8 celebration of St Jarnes. AgUSt saw 8 new rnodel, one day, uaft festival cornbined with a Church fete and. on that weekend, we worshipped café-style in the Ale House reflecting on and celèbrating our God-gNen gifts and how we use them for building vp of our Church and community., OGtober marked Harvesl Festnial and the ctlebration of St Crispin. All a welcome to attend our regular services. At present there are 111 parishionefs on the church electoral rou. The average weekly 8tt8ndance is beeen 55 and 65 increasing to well over double that at the major festivals. The church is open during daylight hours and is regularly used by members of the local community foi prayer or quiet time as is the chapel of St Crispin a118¢hed to the local village h811 Pastoral Care and Community Engagement Mernbers of the church family who are unable to attend seNices are offered home communion.. ojrTenY this is being offered to six people and delivered by our licensad pastoral leaders. the Curate and the Reader. Pastoral visits are undertaken by the dergy as needed. We continue to support the provision of a monthly café foi people living with dfrmentia and their carers., the vill398 foodbank and local schoL)Is with the provision of Christian worship and delivery of elements of the RE curriculum. The ¢lergy run a drop-in aftemoon each week in a local cafè and the monthly Men's Breakfast is extremely popular and valued in the corrmunity. Our parish magazine is dislribuled monihly to about 490 households and 13 available in the local Shops as well. The magazine infomis peOe ol all that is going on in church and the wider ¢omtnunity and is a valuab18 lool foi building community relationships. The church also has an active F8cebook page and website Financial Review The yearfs financial accounts show a deficit on unreslricled income and expenditure of £17.071 12024." defiryt of £10,931) before the revaluation of fixed asset Investments. The increased defi'cit is as a result of lower Income as, despite inflalionary pressures, expenditure was lower than the previous ye8r. It is hoped that, after a period of significant lundfaising12025.' improvement proj8ct and 2024.. roof repairs), people wll feel able to increase their regular giving and also that fundraising can be directed towards general rather than spe¢ifi¢ purposes. Investments are held in professionally managed fvnds with the objectpie of generating a long-term total return of UK CPI plus 3Vo on a lowlmedium risk basis in order to provide additional re50Ufces for the church. Although the a¢counts show a revaluation gain, this was mainly gen8rat8d by the bond fund Iwhich has been sold to provide funds lor the church improvement proiecll and COnalS the very disappointing performan Of the iemaining investments foi the second year in a row. The fund ffl8nager ICCLA Investrnent Management Ltd.} is in the process of being acquifed by Jupiter Fund M8nagemenl and we hope that a change of strategy will bring more positive results. The Finance Committee, on behalf of the PCC, is keeping a close watch on the portfolio and will not hesitate to recommend changes if lh6 promised improvements fail 19 malerialise. Donors were extremely swift arid generous in their support for the Church Improvement Project and we were very optimistic until all the tenders came in much higher than predicted by our architect and quantity surveyor which was extremely disappointing as we had raised funds In a¢cordance with their original figures. However, discussions Wlth the architect and contractor have enabled us to redu the costs to a more manageable level by rernoving certain fe8tures without losing the rnain objectives. The removed items can be reinstated should funds allow in future. 11 is also fortunate that a significant contingency had been included in the 0ri9ln81 fvnding target. The revised 8nlicipaled cost is £163,0 including VAT. We have received donations, including gift aid. of £53.800 and have been awaided grants of £56,41X). The PCC has agTeed to support the PTDiect further by designating an addrtional £10,000, making a total of £S0.0(¥J. No soonei had the revised spe¢ification been finalised than It W8s announced, in the last week of January. that the Listed Places of Worship VAT rècovery scheme would end on 31 March 2026. There has been no detailed 5nformation about the grant scheme to replace it although the very limited statement released by the Department for Cultuie. Media an(J Swrt make5 It cleai that VAT will be payable in future. Clearfy, this is a blow to us. increasing costs by 20Tr10. We are reclaiming as much VAT as possible befofe the deadline and are confident that we still have the SOurceS lo ¢omplete the reduced scale project. particularly as the project team have been extremely successfvl in applying lor orant5 which will be paid once w have receipted invoices from the cgnlractor. The ieserves policy is lo hold approxiwalely four rnonlhs, nomal ill¢ome in ieserves currently amouriling to approxirnately £30,000. We currently have free reserves lunrestricled net as5els less inveslrnentsl of £2S,627 12024. £4,864). The comparison with the prior year is mi51eading since our fixed asset Investments have reduced by nearly £37.000, however, we are still very much solvent and the trustees consider the charity to be a going concern. Once the pioiecl Is complete, we inlend lo work on rebuilding our investrnents.
ST JAMES THE GREA T, COLWALL Report of the Trustees èar ended 31 December 2025 forthe Statement of trustees, responsibilities The Ch8riliÈs Act 2011 requires the tiuslees to prèpare financial statements lor each financal year. Under that law the trustees have prepared the frnancial sl*ements in accordance with United Kingdom Generally Aepted Aecounting Practice Iunited Kingdom Accounting Standards and applicable lawl. The financial statements are required by law lo give true and fair view of the state of affairs of the ¢harity and of the surplus or deficit of the ch8tity for that period. In prepaftn9 those financial statements the Imslees are required lo.. select suitable accounting policie5 and apply them ¢onsistently', make Judgemen15 and estimate5 that are reasonable and prudent.. follow applicable accounting standards and the Charities SORP, disc108ing and exp18ining any departures in the Inancial statements.. and piepare the financial stètements on the going concem basis unless il Is inappropriate to assumé that the charity wll continue in operation The trustees a iesponsible for keeping accounting records which disdose. with ieasonable aeturacy, the financial position of the charity at any time, and fof ensuring th81 the finanual statements comply with charity law. The trustees ara also responsible ftsr safeguarding thè charity's assets, and hence for taking reastsnable steps for Ihe preventic>n and detection of fraud and other IrregularitEs. Approve(I by or¢Yer ol the board of trusteès on 16 rtbth¢4" .LL.'16and svjned on its bèhalf by.. Rev. Preb. M.J. Horton Trustee Page-3-
Independent examiner's report to the trustees of St Jamès the Gr•a( Colwall Independent examinerfs report to the trustees of St James the Great. Colwall l pOrt to the charity trustèes on my exarnination of the accounts of St James the Great, Colwall (the Trustl for Ihe y8ar ended 31 December 2025. Responsibilities and basis of POrt As the chaiily trustees ol the Trust you are responsible for the pparatIOn of the accounts in accordance with the requirements ol the Gh81ilies Act 2011 I'the Acl'l. I report In resped of my examination of the Trust's accounts carried out under Section 145 of the Act and in c8rrying out rny ex3mination I h3vÉ followed all applickble Oirections given by the Charity Commission undei S6Ction 14515llbl of the Act. Indèpendent examinèr's statement I have completed my examination. I conlim that no material malters have ry)ma to my attention in connection with the examination giving me cause to believe thal in any material respect". accounling records were not kepl in respect of the Trust as Teouired by Sedion 130 of the Act.. OT the a¢counts do nol accoid with Ih05e records. or the 3ccounts do not ¢omply with thè applicable requirements concerning Ihe form and content of Èccounls set OLrt in the Charities IAccounts and Reports) Re9ulalic>ns 2008 other than any requirement that the accounts give a true and fair view which is not è matter conSided a5 Part of an indepefidenl examination. I have no Concems and have come across no tsther mattels In connection with the examination lo which attention should be drawn in this Teport in order to enable a proper understanding ol the accounts to be reached. 27ltsL12ts IG Luke Keegan Greendawn Accounting Lld 1A The Homend Ledbury Herefordshi HR8 1BN Pay&-4-
ST JAMES THE GREAT. COLWALL Statement of Flnaneial A¢tivities For the year ended 31 December 2025 2025 Total fund8 2024 Total funds Unrestrl¢tsd funfls Designated funds Restricted funds Not•s Incomè from Donations and 98¢1$ Church activtlies Activities for generating fvnds Insurance ¢laim Investmenl incom• 2a 2b 2c 60,362 5,453 15,549 e91 40 60,797 122,050 5.493 15,549 7.700 2,272 118,002 5,740 16.738 7,7C(I 2d 2,272 Total Incom8 83,636 931 68,497 153.064 143,499 Expènditure on Raising funds Church acltvilies 3a 3b 6,798 93,909 70 19,880 6.868 115.434 6,913 167,911 1,646 Total èxpenditur¢ 100,707 19,950 122,302 174.824 NET INCOMEI EXPENOITURE 15 31,325 Other recognlled galnslllos$gs1 Gainslllossesl on revaluation of fixed asset investsNen5 1.012 1.012 2.312 NET MOVEMENT IN FUNDS 16,059 715 31,774 29.013 RECONCILtATION OF FUNOS Total funds brought forward 10 84,903 42.872 127,775 156,78e Total funds carrlod forward 68.845 48,547 159.549 127,775 P8ge-S-
ST JAMES THE GREAT, COLWALL Balance Sheet as at 31 December 2025 2025 Total 2024 Total General Designated Restricted Fixed assets Tangible assets Inveslments 79$ 43.218 44,014 1,195 80,039 81.234 43,218 44.014 Current assats Debtors Cash al bank 1.615 29.613 31,228 1.763 48,282 50,045 3.378 120,019 123,397 2,818 52,837 55,65S 42.124 42.124 Creditors Arnounts falling due Mrilhin one year 16,3981 33 11,4971 {7,8621 19,1141 Net current assets 24.831 42,157 48,547 115,536 46,542 Tolal assets less current liabiliti&s 68.B45 42,157 48,547 159.549 127.775 NET ASSETS 68.845 42.157 48,547 159,549 127,775 REPRESENTED BY Unrestricted General fund 10. 11 68,845 68,845 83,903 Designated Admiral's Café Flowei Fund Improved Facilities 1.297 860 40,C4)0 1.297 860 1,543 1.329 40.000 40.000 Restricted Imprclved F8alities Donations and Grants Agency collectioris 48,318 229 48,318 229 TOTAL 68,845 42,157 48,547 159.549 127,775 The financial $18temenls were approved by the Board tsf Trustees and authonsed for issue on 26th February 2026 and were signed on its behalf by.. M J Horton Truste P C Pe8rson Trustee Page-6-
ST JAMES THE GREAT, COLWALL Notes to the Financial Statom•nts for lh9 year ended 31 December 2025 Aeeountin9 policies Basis of preparing the financlal ststemgnts The financi81 statemenis have been prepared in accordance with the Church Accounting Regulations 2006 together with the Charities SORP IFRS1021 'Accounting and Reporting by Charilies.. Statement of ReGommended Practice applicable lo charities preparing th&ir accounts in accordance with the Financial Reporting Standard 102 'The Financial Reporting Standard appIlble in the UK and Republi¢ of Iieland IFRS1021 leffeclive 1 Janu8ry 20161,. Financ181 Reporting Standard 102 The Finanrjal Reporting Standard applicable in the UK and R8public of Ireland, and the Charities Act 2011 The financial stalernenls lave been prepared under the historical cost convention with the exception of Investments which are included at market value. The financial statements include all transactions. assets and liabilities for which the PCC is responsible by law and have been prepared using the accruals method ol accgunling. Financial reportin9 Standard 102 - reduced disclosure exemptions The Charity has taken advantage of the following disc105ure exemptions in preparing Ihese financial stalernents, as pertnitted by FRS 102'The Financial Reporting Standard applicable in the UK and Republic Df Ireland.. the requirements of Se¢tion 7 Statement of Cash Flows., the requirement of paragraph 3.17ldl. the requirements ol paragraphs 11.42. 11.44, 11.45. 11.47. 11.481alliiil, 11.4813llivl. 11.48lbl and 11.48lcl. Fund a¢¢ounting UnrEStncted Funds repies8nl the remaining income funds that are available for spending on the general purposes of thé PCC. Designaied funds are general funds set aside by the PCC for SPEnding on a future project and whid) are therefore not In¢luded in its'free reserves, as disclosed in the t(ustees' report. Designated funds remain unrestricted and any surplLJS will be moved to other gen8ral funds. Resliicted Funds are donations and grants for a specific PCC acts'vity intended by the donor. Incoming rèsoues Planned gNing. collections and similar donations are recognised when received. Tax recoverable on Gift Aid donations is recognised in the peiiod In which the qualifying donations ale received Grants and legacies to the PCC are account8d for as soon as the PCG Is nolilied of ils legal eni,'tlemenl the amount due is quanliliable and its ullimale receipt by the PCC is reasonably certain. Dividends and Interest 8r8 8ccDunted for when received. All incorning resources are 8ccounled lor gross. Unrealised gains or losses are accounted for on revaluation of investmènts at Ihe year end. Resources expendèd Grants and donations are accounted for when paid over. or when awarded, If that award creates a binding or constructive obligation on the PCG. The diocesan parish share expected to be paid over is accounted forwhen due. All othei expenditure is generally iecognised when it IS incutted and is accounted for gross. Tangible fixed ass8ts Consecralfjd and benefice property Is not included in the accounts in accordance with Section 1012llal and Icl of the Chaiib85 Act 2011. Tangible fixed assets are capitalised rf they can be used for more than one year and cost at least £500. Depre¢iation Is calculated to wrTrtè off the capitalised cost of fixed assels less their currently an11pated residual fair value over their estimated us8fv1 live3 as follows.. Land Fixtures & Fith'ngs Cornputers and audio visual 8quiprnent 20 ye8rs 4 year5 Paga-7.
ST JAMES THE GREAT, COLWALL Notes to the Financial Statements for the year ended 31 D•c•mr 2025- Continued Investments in market securitie8 Investments are basic financial instiumenls, initially reGogni8ed al transaction value and subsequently measured at fair value as at the year-end. The statement ol financial 8clivrties includès n&t gains and losses arising on revaluation and disposals. Short term deposlts These are cash held on deposit at the bank. Reserves The reseeS policy is to hold approximalely four month5, norm81 income in reserves, currently amounting lo approximately £30,000. Fixed asset investments are held for the long tem sn4J are therefoie excluded from free reserves which comprise those unrestricted funds which are unencumbered amounts represented by cash and debtors less liabilities. Valug added tax Thè Charity is not registered for VAT and accordingly, where applicable, all costs and expenditure incurred ale accounted for inclusive ol VAT. Taxation The charity is exernpl from tax on its charitable activities. Contingont assèts In accordance with the SORP, the Iiuslees disclose that granl5 amounting in aggregate lo £56,400 have been approved by vanous chsritable trusts duting the year in speCt of the chur¢h improvement project. £7,900 has already beEn received with the remaining £48.500 conlingent upon receipt by them of appropriate invoices during 2026. Page-8-
ST JAMES THE GREAT. COLWALL Notès to the Fin•nclal Statemènts for the ygar ended 31 Dec8mber 2025 - continued 2a. Donatlons and l&gaeSè9 2025 2024 Planned giving Tax recoverable Grants Legacies Appeals Othèr donations Other funds gener8le 42,201 18,695 14,557 36,726 14,210 50,776 1,OOL) 21.786 19,711 5.100 12,477 2,813 122,050 118,W2 2b. Church •ctivitles 2025 2024 Fees for weddings and funerals Other 5.463 30 5,493 5.379 361 5,740 2e. Fundraising 2025 2024 Colwall Clod( magazine Alehouse lettings Oiher events 8,042 2,830 4,677 15,549 7,737 1.843 7.158 16,738 2d. Investmont income 2025 2024 Dwidends Deposit account interest 1,809 463 2.272 1,177 1 842 3,019 Cost of fundraising 2025 2024 Colwall Clock magazine Other 5.804 1,064 6,868 5,559 1,354 6.913 3b. Church activities 2025 2024 Missionary and charitable giving Admiral's calè Parish Share Other minislry costs Church iunning and maintenance Majoi repairs and improvements Churchyard Costs Administratio Upkeep of services Alehouse running costs Other expenses 4,890 1,Q66 51,804 5,243 11.406 18.659 2,698 12,940 2,676 393 51.804 3.990 11.781 71.417 1,303 13,925 4,931 2.721 2,940 167.911 1.768 115,434 Page-9-
ST JAMES THE GREAT, COLWALL Notes to the Financial Statsmgnts lor the year ended 31 De¢ember 2025- continued Trustees. remuneration and b8nefits Payments to dergy. PCC members and related path'es 2025 2024 Payments in respect of services as organisls Paytllenls In respect of administration services Contribution to rector's cost in heating parish oftic 2,115 10,980 1,800 2,115 10,980 1,600 No payments olher than those identtfied above were paid to any other PCC member. persons closely connected lo them or rdated parties. Staff costs During the year the PCC ernployed one part-time parish administrator. 2025 2024 Administralion Employers, national insurance less employmenl allow8n¢e Pension contributions 10,980 10.980 Total 10.980 10,980 The average monthly number of employees during the year wa5 as follows.. 2025 2024 Adminislralive staff No employees ieceived emuments In excess of £60,000. Tangible flx•d assèts Computèrs and audio visual equipment Cost At 1 January 2025 Additions in year At 31 December 2025 1,594 1,594 Depreciatlon At 1 January 2025 Charge lor year At 31 December 2025 399 399 798 Net book value At 31 Decemb8r 2025 At 31 December 2024 1,195 Page 10-
ST JAMES THE GREAT, COLWALL Not•$ to the Financial Statements for the year ended 31 Dècembèr 2025- continued Fixed asset investments CBF Church of England Inveslment Funds Shares and long term dept>sits Valuatson at 31 December 2024 80.039 Sold in year18ond Fund) Unrealised gain 137,8331 1,012 Total investment at 31 December 2025 43,218 DebtOTS-. arnounts falling due within one year 2025 2024 Income tax recoverable Other debtors 3,378 2,495 323 2,818 3,378 £1,76312024". £01 ol t8x recoverable relates lo reslricted funds. Credltors: amounts f•lling due within one year 2025 2024 Mission charitable donaiions Prepaid Colwall Clod( 5ub5criptions and adverts HMRC Other 3,117 1.500 556 2,689 5.789 1,276 7.862 9.114 10. Funds The Improved Facilities Donation5 and Grants reslricled fund consists of grants and donalion received for the church facilities Improvement projecl. induding the new chairs. The Sundry Specific fund consists of smaller specific funding items, mainly the new bench and display board in the churchyard. The desigftated funds thè Flower Fund and the Admiral's Calé Ful as well as the Churth Facilities lrnpiovement Fund." the PCC has allocated £40.000 from the General Reserve lor this project which will start in early 2028. Since the year end, and the cancellation cil the Listed Places ol Worship (VAT recovery) Schem&. a lurther £10.000 has been designated to ensure Ihe project can be compleled. Page 11
ST JAMES THE GREAT, COLWALL Notes to the Financial Statements forthe year ended 31 December 2025 - eontinuèd Summary of fund movements Opening balane• at 1 January 2025 Ineoming resources Resources expended Investment gains Cl¢)8lng balance at 31 D•eomber 2025 Unrestricted General 84,903 83.636 100,707 1,012 68.845 De8i9nated Flower Adtniral's Cafe Improved faolities 1,329 1.543 40,OQM) 580 860 1.297 40.CKJO 820 Restricted Improved facilities donations and grants Sundry specific enc Total 65,397 17,078 48,318 2,950 229 153.143 2,950 229 159,549 127.775 122,381 1,012 12. Comparats'ves for the 3tatement of firtanelal actlvltles 2024 Unrestricted funds Designatsd funds Re8trictsd fund$ Total funds Income Donation5 and legacies Church activilies Activities for generating funds Investment income Total 66.568 5,419 16,738 3.019 91,744 658 321 50,776 118,002 5.740 16,378 3,019 143,499 979 50,776 Expenditur• Raising lunds Church activrtles 6,913 95.762 6,913 167,011 732 71.417 Totsl 102,675 732 71.417 174.824 NET INCOMEIIEXPENDITUREI 110,9311 247 120,6411 {31,3251 Tran¥fgr¥ between funds 130.369) 25,185 5,184 Othèr rèeognistd gainslllos5851 Gainsll105sesl on valUation of fixed asset investrnents Nèt movemènt in funds 2,312 2,312 138,9881 25.432 115,4571 129,0131 Reconciliation of fund¥ Total funds brought fotward 123,891 17,440 15.457 168,788 Total fund8 ¢arried forw8rd 84,903 42,872 127,775 Page 12-