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 ￿9￿ladY 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. A￿gUSt 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 be￿een 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.. ojrTen￿Y 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 peO￿e 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 COn￿alS 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 financ￿al year. Under that law the
trustees have prepared the frnancial sl*ements in accordance with United Kingdom Generally A￿epted 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 p￿paratIOn 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 conSide￿d 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 investsNen*5
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 appIl￿ble 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 rèsou￿es
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 an1￿1pated 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•m￿r 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 rese￿eS 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 em￿uments 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-