## **Parish Church of St Michael & All Angels, Thurmaston** **Living as Christ in our community to share the love of God** # **ANNUAL REPORTS AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL** **For the Year Ended 31[st] December 2024** ## **ANNUAL MEETINGS 2025** # **Annual Parish Meeting for the Election of Churchwardens Annual Parochial Church Meeting (APCM)** **Sunday 27[th] April 2025 from 12.30pm At the Parish Church of St Michael & All Angels, Thurmaston** Bank: Barclays Bank Ltd, Town Hall Square, Leicester Independent Examiner: Mr. Colin Wood Contact for meeting enquiries and apologies: Darren Gartside, PCC Secretary darren.gartside@live.co.uk/ 07746 326254 The Parochial Church Council of St Michael & All Angels, Thurmaston – Registered Charity 1193394 www.stmichaelsthurmaston.org 1 ## **Annual Parish Meeting for the Election of Churchwardens Sunday 27[th] April 2025 at 12.30pm at St Michael & All Angels, Thurmaston** ## **Agenda** 1. Election of Chair for the meeting 2. Opening Prayer 3. Apologies for absence 4. Minutes of Annual Parish Meeting held on Sunday 5[th] May 2024 (page 3) - a. Approval for accuracy - b. Matters arising 5. Election of Churchwardens 6. Date of next Annual Parish Meeting – Sunday 26[th] April 2026 at 12.30pm ## **Annual Parochial Church Meeting (APCM)** ## **Sunday 27[th] April 2025 immediately following the Annual Parish Meeting** ## **Agenda** 1. Apologies for absence 2. Minutes of APCM held on Sunday 5[th] May 2024 (pages 4-6) - a. Approval for accuracy - b. Matters arising 3. To receive and approve Financial Report and Accounts (pages 6-24) 4. To receive other reports (pages 25-30) 5. Elections and Appointments: - a. Election of Parochial Church Councillors (1 to 2026; 1 to 2027; 3 to 2028) - b. To resolve that Licensed Lay Ministers shall be ex-officio members of the PCC (Church Representation Rules 2022, M15, 1(h)) - c. Election of Fosse Team Council members (2) (to APCM 2026) - d. Appointment of Honorary Auditor / Independent Examiner - e. Appointment of Parish Safeguarding Officer (to APCM 2026) - f. Appointment of Safeguarding Independent Person (to APCM 2026) 6. Date of next Annual Parochial Church Meeting – Sunday 26[th] April 2026 immediately following the Annual Parish Meeting at 12.30pm 7. Close of meeting with The Grace _“May the Grace of our Lord Jesus Christ; and the Love of God; and the Fellowship of the Holy Spirit, be with us all; evermore. Amen”._ ## **PCC members are asked to remain for a short meeting of the PCC** 2 **Parish of St Michael & All Angels, Thurmaston Annual Parish Meeting – Sunday 5 May 2024** **MINUTES** |**Held**|Parish Church of St Michael & All Angels,Thurmaston|Parish Church of St Michael & All Angels,Thurmaston| |---|---|---| |**Present**|Ann Beck; David Beck; Sharon Bond; Sam Bone; Ann Burdett; Margaret
Curtis; Elizabeth Day; Cllr Andy Dent; Darren Gartside; Sandra Gartside;
Derek Langley; Dave Lewis; Angela Taylor; John Taylor; John Tebbutt;
Maureen Tebbutt.|| |**Attending **|Alan Frost;Rev Sue Frost;Irene Njui.|| |**1**|**Election of Chair for the meeting**– the meeting was opened
at 12.30pm and it was proposed that Dave Lewis be elected
Chair for the meeting. Proposed by John Tebbutt, seconded
byAngela Taylor,and agreed unanimously.|| ||**Dave Lewis adjourned the meeting until 12.45pm.**|| |**2**|**Opening Prayer**– Dave reopened the meeting at 12.45pm,
welcomed all,and led the meetingin Prayer.|| |**3**|**Apologies for absence**– received from Chris Allen; Mick
Cleaver; Pat Cleaver; Mo Cunninghame; Pat Davies; Joan
Elliott; Mandy Green; Elizabeth Grimsley; John Hewer; Julie
Hewer; Lesley Hyam; Gill Lewis; Brian Payne; Jim Smith; Ann
Stanton; Kev Tebbutt; Selina Thraves; Andrea Vincent; Lita
Woolley.|| |**4**|**Minutes of the Annual Parish Meeting held on 7th May**
**2023:**|| |**a**|**Approval for accuracy**– it was proposed by Cllr Andy Dent
and seconded by Maureen Tebbutt that the minutes be
approved,and this was agreed unanimously.|| |**b**|**Matters arising**– there were none.|| |**5**|**Election of Churchwardens**– the following nominations had
been received:
Nominee: John Tebbutt; Proposed by: Angela Taylor;
Seconded by: Lesley Hyam.
Nominee: David Lewis; Proposed by: Sandra Gartside;
Seconded by: Samuel Bone.
The election of John Tebbutt and David Lewis was agreed
unanimously.|| |**6**|**Date of next Annual Parish Meeting**– Sunday 27thApril
2025 at 12.30pm (and not Sunday 4thMay 2025 as noted in
the Annual Report, owing to the May date being a Bank
Holidayweekend).|| ||**There being no further business Dave Lewis thanked**
**everybody for attending and closed the meeting at 1pm.**|| 3 ## **Parish Church of St Michael & All Angels, Thurmaston MINUTES Annual Parochial Church Meeting – Sunday 5 May 2024** |**Held**|Parish Church of St Michael & All Angels,Thurmaston|Parish Church of St Michael & All Angels,Thurmaston| |---|---|---| |**Present**|Ann Beck; David Beck; Sharon Bond; Sam Bone; Ann Burdett; Margaret
Curtis; Elizabeth Day; Cllr Andy Dent; Darren Gartside; Sandra Gartside;
Derek Langley; Dave Lewis; Angela Taylor; John Taylor; John Tebbutt;
Maureen Tebbutt.|| |**Attending **|Alan Frost;Rev Sue Frost;Irene Njui.|| |**Chair**|John Tebbutt,PCC Vice Chair(LayChair duringvacancy).|| |**1**|**Apologies for absence**– received from Chris Allen; Mick
Cleaver; Pat Cleaver; Mo Cunninghame; Pat Davies; Joan
Elliott; Mandy Green; Elizabeth Grimsley; John Hewer; Julie
Hewer; Lesley Hyam; Gill Lewis; Brian Payne; Jim Smith;
Ann Stanton; Kev Tebbutt; Selina Thraves; Andrea Vincent;
Lita Woolley.|| |**2**|**Minutes of Annual Parochial Church Meeting held on 7th**
**May 2023:**|| |**a**|**Approval for accuracy**– it was proposed by Cllr Andy Dent
and seconded by Margaret Curtis that the minutes be
approved. This was agreed unanimously.|| |**b**|**Matters arising **– there were none.|| |**3**|**To receive and approve Financial Report and Accounts**–
these had been circulated in advance to all listed on the
Church Electoral Roll and those who received the Church
Newsletter by email. Printed copies were made available at
the meeting. John Tebbutt advised that Lesley Hyam was
away, though he would be happy to relay any questions for
a response after the meeting. There were no questions. It
was proposed by Angela Taylor and seconded by Sandra
Gartside that the Financial Report and Accounts be
received and approved,and this was agreed unanimously.|| |**4**|**To receive other reports**– these had been circulated in
advance and were available at the meeting as per the
Financial Report and Accounts. John Tebbutt invited
questions and there were none. It was proposed by
Maureen Tebbutt and seconded by Sharon Bond that the
reports be received,and this was agreed unanimously.|| |**5**|**Elections and Appointments:**|| |**a**|**Election of Parochial Church Councillors**– the following
nominations had been received:|| 4 ||Nominee: Samuel Bone; Proposer: Sandra Gartside;
Seconder: Lesley Hyam.
Nominee: Darren Gartside; Proposer: Lesley Hyam;
Seconder: Samuel Bone.
Nominee: Angela Taylor; Proposer: Maureen Tebbutt;
Seconder: John Tebbutt.
Nominee: Maureen Tebbutt; Proposer: Angela Taylor;
Seconder: David Lewis.
John Tebbutt invited the Rev Sue Frost and Alan Frost to
draw names and terms to determine which terms of up to
three years would be served by each nominee. The
following results were declared:
Samuel Bone – to serve to APCM 2025.
Darren Gartside – to serve to APCM 2027.
Angela Taylor – to serve to APCM 2026.
Maureen Tebbutt – to serve to APCM 2027.
John Tebbutt advised that other PCC members had been
elected to terms of up to three years at previous annual
meetings. The full list of PCC members would be posted
followingthe annual meetings.|| |---|---|---| |**b**|**To resolve that Licensed Lay Minister(s) shall be ex-officio**
**members of the PCC (Church Representation Rules 2022,**
**M15, 1(h))**– this was proposed by Angela Taylor, seconded
by Maureen Tebbutt, and agreed unanimously. John
Tebbutt confirmed that John Hewer would serve in this
capacity.|| |**c**|**Election of Fosse Team Council members**– it was
proposed by Angela Taylor and seconded by Sharon Bond
that Samuel Bone and David Lewis be elected. This was
agreed unanimously.|| |**d**|**Appointment of Honorary Auditor / Independent**
**Examiner**– it was proposed by Sandra Gartside and
seconded by Margaret Curtis that Colin Wood MAAT be
appointed,and this was agreed unanimously.|| |**e**|**Appointment of Parish Safeguarding Officer**- it was
proposed by Angela Taylor and seconded by Maureen
Tebbutt that John Hewer be appointed, and this was
agreed unanimously.|| |**f**|**Appointment of Safeguarding Independent Person**– it
was proposed by Angela Taylor and seconded by Margaret
Curtis that Bijal Bhagwan be appointed, and this was
agreed unanimously.|| 5 |**6**|**Date of next Annual Parochial Church Meeting**– Sunday
27thApril 2025, immediately following the Annual Parish
Meeting at 12.30pm (and not Sunday 4thMay 2025 as
noted in the Annual Report, owing to the May date being a
Bank Holidayweekend).|| |---|---|---| |**7**|**Close of meeting with The Grace**– there being no further
business, those present together recited The Grace, after
which John Tebbutt thanked everybody for attending, and
closed the meetingat 1.15pm.|| **************************************************************************** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **Accounting Policies** The financial statements of the Parochial Church Council of St. Michael and All Angels Thurmaston have been prepared on the Accruals basis, to show a true and fair view, in accordance with the Charities Act 2011, Section 132 and comply with the 2008 Regulations and have been prepared in accordance with the methods and principles set out in the applicable Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) (FRSSE). They are consistent with accounting standards and the accounting concepts of going concern and accruals. ## **General Funds** General funds represent the funds of the Parochial Church Council that are not subject to any special restrictions regarding their use and are available for application to the general purposes of the Parochial Church Council. These include funds, if any, designated for a particular purpose by the Parochial Church Council. ## **Designated funds** Designated funds, if any, are part of the unrestricted funds, which the Parochial Church Council has earmarked for a particular project or use, without restricting or committing the funds legally. The designation may be cancelled by the Parochial Church Council if it later decides that they should not proceed or continue with the use or project for which the funds were designated. ## **Restricted funds** Restricted funds are established when required, where grants, donations, legacies or other income have been received that require that the funds be used in a specific way or for a specific purpose. The Parochial Church Council considers it necessary at present to maintain a balance in the “Fabric Fund” in order to help fund the works required to maintain its ancient historic parish church, comply with modern legislation and enhance the facilities within the building. It also maintains a balance in the “Floodlights Fund”, the “Youth Fund” and the “Poor Fund” to enable work or mission under these specific headings. The accounts include monetary transactions, assets and liabilities for which the Parochial Church Council can be held responsible. They do not include the accounts of other church groups, if any, that owe an affiliation to another body, nor those that are informal gatherings of church servants. 6 ## **Statement of Assets and Liabilities** Investments are recognised in the Statement of Assets and Liabilities. The following assets are recognised and a monetary value given as part of the description in the Statement of Assets and Liabilities: Amounts owing from HMRC Any other amounts owing to the Parochial Church Council Debtors relating to goods and services where supply has been paid in advance for 2025 Closing bank balances as shown in the receipts and payments account. The following liabilities are recognised in the Statement of Assets and Liabilities: Any arrears of Diocesan parish Share Any arrears of assigned fees or fees to church servants, or other amounts owed Any Creditors for goods and services where supply has been received by 31[st] December 2024 Insurance award for work still outstanding. ## **Reserves** The Parochial Church Council has created an Investment Policy and keeps under review the amount of working capital required to meet the PCC’s short term objectives and to seek professional advice from its Financial Adviser, Mr Nick Trudgill of Ashwood Law Wealth Management with regard to long term investment of any reserve funds. Savings likely to be required to meet short term objectives are held in the PCC’s Church Board of Finance deposit accounts and its Nationwide Building Society Business Savings Account. ## **Assigned Fees** All assigned fees recovered are paid over to the Diocese. ## **“Contra” Receipts and Payments** The “Contra Charity” items are amounts collected by the church, which are subsequently paid out in full to other organisations, such as collections for charity. They do not form part of the financial statements. ## **Insurance** The church is insured through the Ecclesiastical Insurance Group under a discounted Long Term Agreement. The premium is paid annually on 22[nd] August and was £3,957 in 2024. The sum insured is £10,400,000 for buildings and contents combined, which represents 100% of the cost of repair/restoration of the church. The cover carried for Public Liability is £5m. In addition, organisers of special and fund raising events arrange further insurance cover where appropriate. ## **Risk management** The Parochial Church Council is aware of the many risks involved with the administration of the Parish and has endeavoured to minimise or reduce them, paying particular attention to health and safety and child protection issues, creating and maintaining all the necessary policies and procedures as required by legislation. ## **Legal Advice** If required legal advice is obtained from the Leicester Diocesan Registrar. ## **ST. MICHAEL AND ALL ANGELS CHURCH THURMASTON** ## **Background** 7 The Parochial Church Council of St Michael & All Angels, Thurmaston is a Charitable Incorporated Organisation, registration no 1193394. It is governed by the Parochial Church Councils (Powers) Measure 1956, as amended, and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended). St. Michael and All Angels Parochial Church Council (PCC) has read the Commission’s guidance on public benefit (PB3 Public benefit: reporting) and is therefore aware of the Charity Commission’s guidance on public benefit. In regard to “The Advancement of Religion for the Public Benefit” the PCC has particular regard to this in its administration of the Parish. The PCC believes that, by fulfilling its responsibility to work together with the Area Dean in the Parish and co-operate in all matters of concern and importance for the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical, it provides a benefit to the public by: - Providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers; - Promoting Christian values, and service by members of the Church to the community, to the benefit of individuals and society as a whole. The PCC is responsible, inter alia, for the parochial budget and all expenditure thereunder, the care and maintenance of Church fabric, and for any action or other matter referred to it. With the exception of the Children and Families Worker all members are unpaid volunteers. ## **Membership** Members of the PCC are either ex officio, co-opted, or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules. During the year 1[st] January 2024 to 31[st] December 2024, (the period covered by these accounts) the following served as members/ officers of the PCC: ## **Ex-Officio** Incumbent: Vacant Wardens: Mr. John Tebbutt Mr. David Lewis Associate Minister: Mr. John Hewer ## **Diocesan Synod Representative (representing the Goscote Deanery)** Mrs Mandy Green (until 14.10.24) Mr Sam Bone (from 01.12.24) ## **Deanery Synod Representatives** Mr Darren Gartside Mrs Sandra Gartside ## **Elected PCC Members** Mr. David Beck Mr. Sam Bone Mr. Darren Gartside Mrs. Sandra Gartside Mrs. Julie Hewer Miss Lesley Hyam Mrs. Angela Taylor Mrs. Maureen Tebbutt Mrs. Shirley Wright (co-opted from 16.12.24) 8 ## **Fosse Team Council Representatives** Mr. David Lewis Mr. Sam Bone ## **Locally Authorised Ministers** Mr David Beck (from 04.8.24) Mr Sam Bone (from 08.09.24) ## **Standing Committee** This is the only committee required by law. It has power to transact the business of the PCC between its meetings, subject to any directions given by the PCC. The Standing Committee during 2024 was constituted of: - Mr David Lewis - Mr John Tebbutt - Mr Darren Gartside - Miss Lesley Hyam Mrs Angela Taylor (until 05.05.24) Mr John Hewer (from 05.05.24) ## **PCC Chair** Vacant (previously the Vicar) ## **PCC Vice Chair** Mr David Lewis (from 05.05.24) Mr John Tebbutt (until 05.05.24) (During a vacancy the Chair remains vacant – the PCC Vice Chair acts as ‘Lay Chair’ but is still the PCC Vice Chair. In the absence of the PCC Vice Chair, the meeting elects a lay PCC member to take the chair for the duration of the meeting). ## **Church Wardens** Mr. David Lewis Mr. John Tebbutt ## **PCC Secretary** Mr. Darren Gartside ## **PCC Treasurer** Miss Lesley Hyam ## **Health and Safety Co-ordinator** Mr. John Hewer ## **Parish Safeguarding Officer** Mr. John Hewer ## **Safeguarding Independent Officer:** Bijal Bhagwan **Church Electoral Roll Officer** Mrs. Julie Hewer 9 ## **Living Hope Church Thurmaston Project Board Representative** Mrs. Maureen Tebbutt ## **Church Hill Junior School Foundation Governors** Mr. Steve Hardy Mrs. Mandy Green (until 10.10.24) Mrs. Maureen Tebbutt ## **Eco Co-ordinator** Mrs. Angela Taylor ## **Coffee Time Co-ordinator** Mrs Sandra Gartside ## **Flowers Co-ordinator** Mrs Maureen Tebbutt ## **Foodbank Co-ordinator** Mrs Maureen Tebbutt ## **Honorary Verger** Mr John Tebbutt ## **Webmaster** Mr Darren Gartside ## **Tower Captain** Miss Lesley Hyam ## **Events Team** Mr Sam Bone (from 16.12.24) Mrs Pat Cleaver Mrs Sandra Gartside Miss Lesley Hyam Mrs Gill Lewis Mrs Angela Taylor Mrs Maureen Tebbutt ## **TREASURER’S REPORT ON THE 2024 ACCOUNTS** The trends from previous years continued throughout 2024. Planned giving income for 2024 reduced by just over 13% from £12,129 in 2023 to £10,512 due again to a number of regular givers leaving or reducing their contributions. However, there was an increase of £151 on the collection plate in 2024 although the amount received via the digital giving machine reduced from £527 in 2023 to £261 in 2024. Gift Aid and Gift Aid Small Donation Scheme refunds totalled £2,688 in 2024 which was £610 lower than the previous year. Obviously, as giving continues to reduce so does the amount of gift aid which can be claimed. 10 Happily, donations in 2024 increased to £2,370 from £1,591 in 2023. No legacies were received. Fundraising in 2024 increased by £724 to £2,873, compared to £2,149 in 2023. Of this amount Coffee Time raised £708, the sale of handmade items, raised a total of £219, the Christmas Tree Festival at Thurmaston Lights Up raised £472, the two Ratcliffe Chorale concerts raised a total of £1,233 and a combined total of £241 was raised from a number of other specific fundraising events. The cost of generating funds, including the costs associated with digital giving increased to £118. There were six funerals in church, and one at Gilroes in 2024, compared to two and one respectively in 2023, and one wedding compared to three in 2023. The portion of fees retained by the PCC was £1,055. Interest received during 2024 increased from £6,166 in 2023 to £6,790. It is important to note that the withdrawal of £50,000 during 2024 from the Nationwide Business Savings account will have an impact on the level of interest received when it is next awarded at the end of March 2025. The amount of £4,471 showing as “other income” on the unrestricted funds is the insurance award following the damage caused to the vestry window as a result of the break-in. It was not possible to repair the window during 2024 so the cost for this has been included in the accounts as a creditor. The Foodbank was again the largest item under the “contra” heading due to the award of fuel top-up grants to Food Bank clients. The money paid out was again reimbursed by Soar Valley Community Project from grants received from Leicestershire County Council. The PCC’s commitment to the Diocese to pay a Parish Contribution of £25,000 for the year was met in full. Payment to organists for Sunday and other services of worship totalled £1,890, similar to the £1,820 in 2023. The amount of charitable donations made by the PCC in 2024 was £878. This consisted of £295 to assist Foodbank clients, £50 to the Bishops Lent Appeal, £183 for Christian Aid, £100 for the Children’s Society, £100 for Soar Valley Outreach Project and £150 for Shelter Housing and Research Project. The total cost of work with children and families in 2024, including, materials, salary, oncosts, expenses and room hire was £23,689. This was less than the previous year due to the fact that the Children and Families Worker resigned and left in the middle of October. Subscriptions from Bright Sparks stay and play group contributed £483 and a contribution of £1,545 was received from East Goscote to assist with the salary increase. The computer purchased by the PCC for use by the Children and Families Worker was purchased by her for £300 at the end of her employment. 11 Church running expenses increased from £11,142 in 2023 to £15,594 in 2024. The most significant increase was on repairs and maintenance, which includes £2,993 spent on new pew cushions and the accrual for repair of the vestry window for which the insurance claim has already been awarded. The amount spent on gas rose by £3,877 to £6,814. This reflects the fact that the heating system had to be left on constantly for the first few months of 2024 because of the fear, that if the boiler was turned off it would not come on again. A new contract for the supply of gas commenced on 1[st] February 2024 when the previous very reasonably priced contract expired. The new contract reflects the increased costs in the gas market so even though no gas was consumed at the end of the year, (because the boiler actually did fail to turn on again), it did not compensate for the higher gas consumption at the start of the year. Similarly, the amount spent on electricity increased by £3,641 to £4,862 due partly to the increased cost of a new contract and also because it was necessary to use electrical means to heat the church at the end of the year, especially for a number of special events which required the church to be warm for days at a time. No major building work was undertaken during 2024. The work identified in the 2022 quinquennial inspection still needs to be done but some projects are due to commence early in 2025, including the new heating system and the laying of Karndean flooring to seal in the asbestos tiles. The electrics are also due to be updated and it is anticipated that work to level the chancel area, as well as some other minor works will also be undertaken in the short term. These will require considerable financial resources, as will glass and stonework repairs which were identified in the 2022 Quinquennial Inspection. The investment with Quilter performed very well and at 31[st] December 2024 its value was £229,709 which is an increase of £20,938 since the end of 2023. The PCC has considered whether to withdraw some funds from the investment in order to avoid losing out if it decreases in value, but decided to follow the advice of the Financial Adviser which is to leave it invested for as long as possible and to use other funds to pay for work required for as long as we are able to do so. The PCC undertook a formal annual review of the investment, together with the Financial Adviser, in November 2024 and was satisfied that all was in order and that the investment was performing well. In summary, including estimated debtors and creditors, total receipts for 2024 were £39,496 and total payments were £82,880 leaving a deficit of £43,384 In conclusion, as in the previous year, the amount received in 2024 was well under half the amount spent, and the deficit was much more than the amount received. Clearly this is an unsustainable situation. The investment with Quilter reduces the impact of this deficit but only by 48% and it is hard to know what other steps can be taken to address the situation. Lesley Hyam Treasurer 12 ## **THURMASTON PAROCHIAL CHURCH COUNCIL INVESTMENT POLICY (Updated 10.07.23)** This policy has been created following receipt of the proceeds from the sale of Thurmaston Old School Church and Community Centre. However, it will be reviewed on an annual basis to ensure it remains adequate to deal with those monies and also any future income to the Parochial Church Council (PCC). Thurmaston PCC wishes to exercise its right, under the general power of investment which permits trustees to invest a charity’s funds in any asset that is specifically intended to maintain and increase its value and/or produce a financial return. In accordance with the Parochial Church Council (Measures) Act 1956, investment decisions made by the PCC must be approved by, and vested in, Leicester Diocesan Board of Finance. The name will be “Leicester Diocesan Board of Finance acting as Custodian Trustee on behalf of Thurmaston Parochial Church Council”. Two of four signatories, as nominated by Leicester Diocesan Board of Finance (LDBF), will be required to authorise investment transactions, but LDBF will react to instructions from the PCC which are signed by a Churchwarden and the Treasurer. Initially the PCC delegated all investment decisions to its Investment Working Party (IWP), which consisted of five members of the PCC, including the Vicar (superceded by a Churchwarden) and Treasurer. However, as no member of the PCC had sufficient investment experience, knowledge or skills the PCC approved the appointment of a suitably qualified and regulated Financial Adviser, as selected by the IWP. At its meeting on 10[th] July 2023, the PCC resolved that once the initial investment was made, the IWP would be dissolved and future investment decisions would be dealt with by the PCC itself. The investment objective continues to be to maximise income, seek capital growth and keep pace with inflation, while at the same time taking into account the need to spend on mission and ministry as well as maintenance and possible development of the church building. When determining the amount to invest, the IWP took into account immediate financial needs, missional objectives, future spending commitments and longer-term organisational objectives as well as past patterns and potential for unforeseen future circumstances. The aim was to identify funds which need to be available on instant access, those which are available for short term investment and those which can be tied up for longer periods of time, ensuring at the same time that it will be possible to respond to unplanned events. Any future investment decisions by the PCC will be made on a similar basis. The IWP satisfied itself that the initial investment was appropriate for Thurmaston PCC and with the help of the Financial Adviser the PCC will keep this under review and consider whether there is a need to change or diversify those investments. The Financial Adviser will make appropriate asset and investment selections in accordance with the 13 PCC’s investment policy and will report on, and evaluate, investment performance. Fees will be paid out of the capital in order to easily identify net performance. Returns generated by investment are either to be paid into the PCC’s current account or to be re-invested, as deemed most appropriate by the PCC, on an annual basis. The PCC intends to exercise its powers to make ethical investments, including Environmental, Social and Governance, using a Christian approach to investment in alignment with the Church of England’s teaching and values, to ensure that investments do not conflict with its aims. This may include both negative and positive screening. Initially the PCC does not intend to engage in stakeholder activism, although this is not precluded, should it be considered appropriate to do so at some future date. It is acknowledged that it is possible this approach could lead to a lower return on investments, but it is considered it would be inappropriate for the charity to make investments which conflict with its values. Whilst the PCC wishes to invest in funds with the highest possible ethical considerations, it has agreed that the PRIMARY ethical criterion for selecting suitable funds for investment are those which: ## **Positively promote** : Animal Welfare Climate Change Reduction Human Rights **Whilst also definitely avoiding** those funds which invest in organisations involved in Animal Welfare – Fur Armaments Pornography Where it is possible the PCC would also wish to select funds which positively promote health and avoid any involved in Animal Testing for Non-Medical purposes or have negative Human Rights or Climate Change/Fossil Fuel impacts. Recognising the need to obtain as high a return as reasonably possible, and anticipating that the investment will be long term, the PCC considers that a “moderate” level of risk is appropriate and most likely to contribute more towards the long-term goals. The PCC recognises that with all investments there is a level of risk. In order to mitigate capital risk it will invest in a diversified portfolio of assets, which will be selected and regularly monitored by the Financial Adviser. Day-to-day decisions concerning the contents of the investment portfolio will be delegated to the financial adviser, acting in a discretionary capacity in line with the Investment Policy. Fund Managers will make decisions regarding the day-to-day management of the investment, but the Financial Adviser may make recommendations from time to time upon which the PCC will decide. 14 ## The Financial Adviser: - must not appoint a substitute or select his or her own successor. - must exercise normal duty of care and has a liability for breach of contract. - must not act in situations which might give rise to a conflict of interest The functions delegated to the Financial Adviser must be carried out in the PCC’s best interests and he or she must ensure that he or she only invests in funds that are within the remit of the PCC’s investment policy. The Financial Adviser will be required to provide valuation statements at least quarterly to the PCC. The PCC will review at least annually, in conjunction with the Financial Adviser, how investments are performing. The evaluation will also take into account the cost of management. The PCC will review, at least annually, the performance of the Financial Adviser. This will be carried out independently of the Financial Adviser and may involve independent expert assistance if felt appropriate. Consideration will include whether the terms under which he or she is acting remain suitable, how well he or she is performing, and whether he or she is complying with the policy statement. The PCC will monitor and review, on an annual basis, its internal arrangements for managing its investments. ## **INVESTMENT AGREEMENT BETWEEN THURMASTON PAROCHIAL CHURCH COUNCIL AND ASHWOOD LAW WEALTH MANAGEMENT LTD** The investment manager agrees to follow an investment policy in line with the investment policy of Thurmaston Parochial Church Council, as set out above. The policy sets out Thurmaston Parochial Church Council’s investment objectives, how it intends to achieve them, the remit and responsibilities of the investment manager and the principles that the investment manager must follow when taking any investment decisions on behalf of Thurmaston Parochial Church Council. All investment must be within the remit of the Investment Policy. This agreement is to be reviewed on an annual basis and can be terminated, in writing, at any time by either side. 15 |||||||| |---|---|---|---|---|---|---| ||**THURMASTON PAROCHIAL CHURCH COUNCIL**|||||| ||**BALANCE SHEET AS AT 31ST DECEMBER 2024**|||||| |||||||| ||||**2024**|**2023**|**2022**|| |||||||| ||**Fixed Assets**|||||| ||Quilter Investment||£229,709.24|£208,770.90|£0.00|| |||||||| |||||||| |||||||| ||**Current Assets**|||||| ||Current Account||£13,108.65|£8,524.37|£52,274.99|| ||Deposit Account CB3027581(formerly619016002D)||£33,666.87|£31,969.96|£1,379.02|| ||Deposit Account CB3027582(formerly619016003D)||£72,598.50|£68,939.32|£30,977.17|| ||Nationwide BuildingSociety||£37,917.01|£85,000.00|£350,115.55|| |||||||| |||||||| ||Debtors and Prepayments||£7,131.41|£8,384.34|£5,059.00|| |||||||| ||||£164,422.44|£202,817.99|£439,805.73|| |||||||| ||**Current Liabilities**|||||| |||||||| ||Creditors and Accruals||£6,738.90|£1,750.00|£370.00|| |||||||| ||||£6,738.90|£1,750.00|£370.00|| |||||||| |||||||| ||||£387,392.78|£409,838.89|£439,435.73|| |||||||| ||Balance Brought Forward||£409,838.89|£439,435.73|£488,979.35|| ||Excess income /(- expenditure)||-£43,384.45|-£38,367.74|-£49,543.62|| |||||||| ||Gain+ / Loss- on Valuation of Fixed Assets||£20,938.34|£8,770.90|£0.00|| |||||||| ||Balance Carried Forward||£387,392.78|£409,838.89|£439,435.73|| |||||||| |||||||| |||||||| ||Made upof Funds(adjusted for net of debtors & creditors)|General|£370,717.70|£373,624.71|£427,325.46|| |||Designated|£0.00|£0.00|£0.00|| |||Legacy|£0.00|£0.00|£0.00|| |||Restricted|£16,675.08|£36,214.18|£12,110.27|| |||||||| ||||£387,392.78|£409,838.89|£439,435.73|| |||||||| |||||||| |||||||| |||||||| ||**Note**|||||| |||||||| ||Approved byorder of the PCC on 13.04.25 and signed on it's behalf by:|||||| |||||||| ||Mr David Lewis - Chairman|||||| |||||||| ||Approved byColin Wood(Independent Examiner)on 08.04.25|||||| |||||||| 16 ||||||||||| |---|---|---|---|---|---|---|---|---|---| ||**THURMASTON PAROCHIAL CHURCH COUNCIL BANK RECONCILLIATION**||||||||| ||||||||||| ||**DECEMBER 2024**|||||**2024 TOTALS**|||| ||||||||||| ||Balance Brought Forward from November Reconcilliation|||£14,530.69|||£14,530.69||| ||Receipts|||£3,508.06|||£3,508.06||| ||Payments|||£4,930.10|||£4,930.10||| ||**Balance at month end**||||**£13,108.65**|||**£13,108.65**|| ||||||||||| ||||||||||| ||Bank Statement Balance at end of December 2024|||£15,609.85|||£15,609.85||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||Less Unpresented Cheques|Number|Amount||||||| |||105171|£35.00||||||| |||105173|£35.00||||||| |||105176|£2,080.00||||||| |||105178|£77.20||||||| |||105180|£114.00||||||| |||105181|£35.00||||||| |||105182|£35.00||||||| |||105183|£35.00||||||| |||105187|£35.00||||||| |||105189|£20.00||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| |||||£2,501.20|||£2,501.20||| ||Add Uncleared Deposits||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| |||||£0.00|||£0.00||| ||||||||||| ||||||||||| ||**Reconcilled Balance at month end**||||**£13,108.65**|||**£13,108.65**|| ||||||||||| 17 **THURMASTON PAROCHIAL CHURCH COUNCIL 2024 RECEIPTS ACTUALS ADJUSTED TO REMOVE 2023 & INCLUDE 2024 DEBTORS & PRE-PAYMENTS AND CREDIT0RS & ACCRUALS** |**THURMASTON PAROCHIAL CHURCH COUNCIL 2024 RECEIPTS**|**THURMASTON PAROCHIAL CHURCH COUNCIL 2024 RECEIPTS**|**THURMASTON PAROCHIAL CHURCH COUNCIL 2024 RECEIPTS**||||||| |---|---|---|---|---|---|---|---|---| |**ACTUALS ADJUSTED TO REMOVE 2023 & INCLUDE 2024 DEBTORS & PRE-PAYMENTS AND CREDIT0RS & ACCRUALS**||||||||| |||||||||| |**INCOMING RESOURCES**|**ADJUSTED TOTAL TO 31ST DECEMBER 2024**||||**ADJUSTED TOTAL TO**
**31.12.24**||**TOTAL TO 31.12.23**|| ||**RESTRICTED**||**UNRESTRICTED**||**ALL**||**ALL**|| |||||||||| |**VOLUNTARY INCOME**||||||||| |Tax efficient planned giving||**£0.00**||**£10,511.72**||**£10,511.72**||**£12,128.93**| |||||||||| |Collections of loose cash at services||**£0.00**||**£1,798.39**||**£1,798.39**||**£1,647.32**| |_Sunday services_|_£0.00_||_£1,683.14_||_£1,683.14_||_£1,289.10_|| |_Funerals_|_£0.00_||_£49.00_||_£49.00_||_£199.59_|| |_Weddings_|_£0.00_||_£38.10_||_£38.10_||_£25.00_|| |_Other special services_|_£0.00_||_£28.15_||_£28.15_||_£133.63_|| ||_£0.00_||_£1,798.39_||_£1,798.39_|||| |Other recurring giving / donations||**£0.00**||**£0.00**||**£0.00**||**£0.00**| |Digital Giving||**£0.00**||**£260.68**||**£260.68**||**£527.00**| |Non-recurring giving / donations (inc Special Appeals)||**£0.00**||**£2,370.16**||**£2,370.16**||**£1,590.69**| |||||||||| |Tax recovered through gift aid||**£0.00**||**£2,688.35**||**£2,688.35**||**£3,297.86**| |||||||||| |Legacies received (capital value)||**£0.00**||**£0.00**||**£0.00**||**£0.00**| |||||||||| |Recurring grants||**£0.00**||**£0.00**||**£0.00**||**£0.00**| |||||||||| |Non-recurring or one-off grants||**£0.00**||**£0.00**||**£0.00**||**£0.00**| |||||||||| |**ACTIVITIES FOR GENERATING FUNDS**||||||||| |Fund raising||**£0.00**||**£2,873.36**||**£2,873.36**||**£2,148.94**| |||||||||| |**INCOME FROM INVESTMENTS**||||||||| |Dividends, interest, income from property etc||**£1,667.96**||**£5,122.39**||**£6,790.35**||**£6,166.47**| |||||||||| |**CHURCH ACTIVITIES**||||||||| |Parochial fees retained by the PCC||||**£2,445.00**||**£2,445.00**||**£3,399.80**| |_Running Costs(Weddings)_|_£0.00_||_£390.00_||_£390.00_||_£905.00_|| |_Running Costs(Banns)_|_£0.00_||_£72.00_||_£72.00_||_£68.00_|| |_Running Costs(Funerals)_|_£0.00_||_£575.00_||_£575.00_||_£770.00_|| |_(Running Costs(Certificates)_|_£0.00_||_£18.00_||_£18.00_||_£0.00_|| |_Minister(unpaid) (funerals)_|_£0.00_||_£832.20_||_£832.20_||_£820.40_|| |_Organist(funerals)_|_£0.00_||_£150.00_||_£150.00_||_£70.00_|| |_Organist(weddings)_|_£0.00_||_£85.00_||_£85.00_||_£160.00_|| |_Choir(funerals)_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Choir(weddings)_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Bellringers(funerals)_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Bellringers(weddings)_|_£0.00_||_£0.00_||_£0.00_||_£90.00_|| |_Verger(funerals)_|_£0.00_||_£100.00_||_£100.00_||_£75.00_|| |_Verger(weddings)_|_£0.00_||_£30.00_||_£30.00_||_£75.00_|| |_Minister(unpaid)(weddings)_|_£0.00_||_£192.80_||_£192.80_||_£366.40_|| ||_£0.00_||_£2,194.60_||_£2,194.60_|||| |Bookstall, magazine advertising & sales etc||**£0.00**||**£41.20**||**£41.20**||**£45.72**| |_Candles_|_£0.00_||_£41.20_||_£41.20_||_£45.72_|| |_Other_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| ||_£0.00_||_£41.20_||_£41.20_|||| |**OTHER INCOMING RESOURCES**||||||||| |Income from Children & Youth Activities||**£1,812.71**||**£0.00**||**£1,812.71**||**£1,207.35**| |Income from Other Resources||**£0.00**||**£4,470.80**||**£4,470.80**||**£0.00**| |||||||||| |**ASSIGNED FEES**||**£0.00**||**£245.00**||**£245.00**||**£529.20**| |_Weddings_|_£0.00_||_£48.20_||_£48.20_||_£331.60_|| |_Banns_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Funerals_|_£0.00_||_£196.80_||_£196.80_||_£197.60_|| |_Certificates_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |||||||||| |**CONTRA**||||||||| |Contra Charity||**£0.00**||**£3,187.99**||**£3,187.99**||**£3,527.69**| |_Christian Aid_|_£0.00_||_£67.00_|**£0.00**|_£67.00_||_£132.69_|| |_Foodbank_|_£0.00_||_£2,965.22_|**£0.00**|_£2,965.22_||_£3,195.00_|| |_Childrens Society_|_£0.00_||_£19.77_|**£0.00**|_£19.77_||_£0.00_|| |_Every Penny Counts_|_£0.00_||_£0.00_|**£0.00**|_£0.00_||_£0.00_|| |_Other_|_£0.00_||_£136.00_|**£0.00**|_£136.00_||_£200.00_|| ||_£0.00_||_£3,187.99_||_£3,187.99_|||| |Contra Non Charity||**£0.00**||**£0.00**||**£0.00**||**£232.62**| |||||||||~~18~~| |**TOTAL INCOMING RESOURCES**||**£3,480.67**||**£36,015.04**||**£39,495.71**||**£36,449.59**| |||||||||| ## **THURMASTON PAROCHIAL CHURCH COUNCIL 2024 PAYMENTS** ## **ACTUALS ADJUSTED TO REMOVE 2023 & INCLUDE 2024 DEBTORS & PRE-PAYMENTS AND CREDIT0RS & ACCRUALS** |**THURMASTON PAROCHIAL CHURCH COUNCIL 2024 PAYMENTS**|**THURMASTON PAROCHIAL CHURCH COUNCIL 2024 PAYMENTS**|**THURMASTON PAROCHIAL CHURCH COUNCIL 2024 PAYMENTS**||||||| |---|---|---|---|---|---|---|---|---| |**ACTUALS ADJUSTED TO REMOVE 2023 & INCLUDE 2024 DEBTORS & PRE-PAYMENTS AND CREDIT0RS & ACCRUALS**||||||||| |||||||||| |**RESOURCES EXPENDED**|**ADJUSTED TOTAL TO 31ST DECEMBER 2024**||||**ADJUSTED TOTAL TO**
**31.12.24**||**TOTAL TO 31.12.23**|| ||**RESTRICTED**||**UNRESTRICTED**||**ALL**||**ALL**|| |||||||||| |**COSTS OF GENERATING FUNDS**||||||||| |Costs of generating funds (fundraising costs etc)||**£0.00**||**£117.58**||**£117.58**||**£87.05**| |||||||||| |**MISSION GIVING & CHARITABLE GRANTS & DONATIONS**||||||||| |Mission giving and charitable grants & donations||**£295.00**||**£583.00**||**£878.00**||**£743.27**| |||||||||| |**CHURCH ACTIVITIES**||||||||| |Parish share paid to diocese||**£0.00**||**£25,000.00**||**£25,000.00**||**£25,000.00**| |||||||||| |Salaries / honoraria (organist etc)||**£22,047.56**||**£3,456.40**||**£25,503.96**||**£28,744.39**| |_Organist(services)_|_£0.00_||_£1,890.00_||_£1,890.00_||_£1,820.00_|| |_Organist(funerals)_|_£0.00_||_£225.00_||_£225.00_||_£70.00_|| |_Organist(weddings)_|_£0.00_||_£85.00_||_£85.00_||_£160.00_|| |_verger(funerals)_|_£0.00_||_£120.00_||_£120.00_||_£75.00_|| |_verger(weddings)_|_£0.00_||_£30.00_||_£30.00_||_£75.00_|| |_Bellringers(funerals)_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Bellringers(weddings)_|_£0.00_||_£0.00_||_£0.00_||_£90.00_|| |_Choir(funerals)_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Choir(weddings)_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Minister(unpaid) (funerals)_|_£0.00_||_£913.60_||_£913.60_||_£820.40_|| |_Minister(unpaid) (weddings)_|_£0.00_||_£192.80_||_£192.80_||_£375.40_|| |_Other_|_£22,047.56_||_£0.00_||_£22,047.56_||_£25,258.59_|| ||_£22,047.56_||_£3,456.40_|||||| |Expenses (of clergy, pastoral staff etc)||**£59.54**||**£267.90**||**£327.44**||**£299.37**| |_Mileage_|_£53.54_||_£225.90_||_£279.44_||_£155.61_|| |_Hospitality_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Telephone_|_£0.00_||_£42.00_||_£42.00_||_£72.00_|| |_Other_|_£6.00_||_£0.00_||_£6.00_||_£71.76_|| ||_£59.54_||_£267.90_|||||| |Church running expenses||**£1,561.49**||**£14,032.70**||**£15,594.19**||**£11,141.74**| |_Insurance_|_£0.00_||_£3,868.80_||_£3,868.80_||_£3,687.71_|| |_Repairs & Maintenance_|_£0.00_||_£8,418.04_||_£8,418.04_||_£3,761.57_|| |_Cleaning, Hygiene & Hospitality_|_£0.00_||_£241.47_||_£241.47_||_£123.85_|| |_Altar Supplies_|_£0.00_||_£381.85_||_£381.85_||_£405.06_|| |_Printing & Stationery_|_£0.00_||_£167.58_||_£167.58_||_£178.09_|| |_Books_|_£0.00_||_£233.96_||_£233.96_||_£221.69_|| |_Advertising and Communication_|_£0.00_||_£0.00_||_£0.00_||_£146.50_|| |_Gifts_|_£0.00_||_£78.97_||_£78.97_||_£815.00_|| |_Licences and Subscriptions_|_£0.00_||_£431.91_||_£431.91_||_£277.53_|| |_Resources for Children/Youth Work_|_£1,062.49_||_£34.29_||_£1,096.78_||_£1,334.36_|| |_Other_|_£499.00_||_£175.83_||_£674.83_||_£190.38_|| ||_£1,561.49_||_£14,032.70_|||||| |Church utility bills||**£0.00**||**£11,785.76**||**£11,785.76**||**£4,232.47**| |_Gas_|_£0.00_||£6,813.65||£6,813.65||_£2,937.08_|| |_Electricity_|_£0.00_||£4,862.18||£4,862.18||_£1,221.12_|| |_Water_|_£0.00_||£109.93||£109.93||_£74.27_|| |_Other_|_£0.00_||£0.00||£0.00||_£0.00_|| |||||||||| |Costs of trading (candles,bookstall etc)||**£0.00**||**£0.00**||**£0.00**||**£0.00**| |||||||||| |**GOVERNANCE COSTS**||||||||| |Governance costs (examination or audit fee etc)||**£0.00**||**£208.64**||**£208.64**||**£279.53**| |||||||||| |**MAJOR CAPITAL EXPENDITURE**||||||||| |Major repairs to the church building inc redecoration||**£0.00**||**£0.00**||**£0.00**||**£0.00**| |Major repairs to other PCC property inc redecoration||**£0.00**||**£0.00**||**£0.00**||**£0.00**| |New building work to church or PCC property||**£0.00**||**£0.00**||**£0.00**||**£0.00**| |||||||||| |**ASSIGNED FEES**||**£0.00**||**£276.60**||**£276.60**||**£529.20**| |_Weddings_|_£0.00_||_£48.20_||_£48.20_||_£331.60_|| |_Banns_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Funerals_|_£0.00_||_£228.40_||_£228.40_||_£197.60_|| |_Certificates_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| ||_£0.00_||_£276.60_|||||| |**CONTRA**||||||||| |Contra Charity||**£0.00**||**£3,187.99**||**£3,187.99**||**£3,527.69**| |_Christian Aid_|_£0.00_||_£67.00_||_£67.00_||_£132.69_|| |_Foodbank_|_£0.00_||_£2,965.22_||_£2,965.22_||_£3,195.00_|| |_Childrens Society_|_£0.00_||_£19.77_||_£19.77_||_£0.00_|| |_Every Penny Counts_|_£0.00_||_£0.00_||_£0.00_||_£0.00_|| |_Other_|_£0.00_||_£136.00_||_£136.00_||_£200.00_|| ||_£0.00_||_£3,187.99_|||||| |||||||||| |Contra Non Charity||**£0.00**||**£0.00**||**£0.00**||**£232.62**| |||||||||| |**TOTAL RESOURCES EXPENDED**||**£23,963.59**||**£58,916.57**||**£82,880.16**||**£74,817.33**| |||||||||| |**SURPLUS / DEFICIT**||**-£20,482.92**||**-£22,901.53**||**-£43,384.45**||**-£38,367.74**| |||||||||| 19 |**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**| |---|---|---|---|---|---|---| |**RESTRICTED FUND RECEIPTS & PAYMENTS FOR THE YEARS ENDED**||||||| |**31ST DECEMBER 2019 - 2024**||||||| |||||||| ||**Totals excluding**|||||| ||**Non Restricted Legacy**|||||| ||2024|2023|2022|2021|2020|2019| |**Receipts**||||||| |Interest|£1,696.88|£992.80|£402.14|£4.38|£2.41|£4.24| |Donations or grants (previously included
contribution &grants to salary& on-costs)|£782.51|£692.25|£159.75|£30,000.00|£43,515.00|£17,162.00| |Contribution to Salary& On-Costs|£1,545.30|£0.00|£0.00|£6,184.21|£0.00|£0.00| |Special Events|£0.00|£0.00|£0.00|£0.00|£6,896.80|£4,759.27| |VAT Refund on BuildingWork|£0.00|£0.00|£371.20|£13,456.19|£0.00|£0.00| |Transfers from Another Fund|£0.00|£51,000.00|£20,023.25|£12,500.00|£11,000.00|£10,597.46| |Closure of Account|£0.00|£0.00|£0.00|£0.00|£65.12|£0.00| |Gift Aid Refund from HMRC|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| ||**£4,024.69**|**£52,685.05**|**£20,956.34**|**£62,144.78**|**£61,479.33**|**£32,522.97**| |||||||| |**Payments**||||||| |Repairs|£0.00|£0.00|£0.00|£1,224.00|£0.00|£0.00| |Salary& On-Costs|£22,107.10|£25,419.23|£24,851.05|£24,734.79|£0.00|£0.00| |Return of Unused Grant|£0.00|£0.00|£0.00|£500.00|£0.00|£0.00| |Architect's Fees|£0.00|£0.00|£0.00|£1,655.75|£0.00|£0.00| |BuildingWork|£0.00|£0.00|£0.00|£35,824.40|£20,782.80|£0.00| |Sundries (previously included payment of salary &
on-costs)|£1,856.49|£1,947.74|£720.67|£406.18|£28,034.65|£25,461.34| |Transfer to Another Fund|£0.00|£1,214.17|£0.00|£500.00|£7,900.00|£1,474.25| ||**£23,963.59**|**£28,581.14**|**£25,571.72**|**£64,845.12**|**£56,717.45**|**£26,935.59**| |||||||| |||||||| |Excess of Receipts over Payments|£0.00|£24,103.91|£0.00|£0.00|£4,761.88|£5,587.38| |||||||| |Excess of Payments over Receipts|£19,938.90|£0.00|£4,615.38|£2,700.34|£0.00|£0.00| |||||||| |||||||| |Bank Current and Deposit Accounts at Start of Year|**£36,214.18**|£12,110.27|£16,725.66|£19,425.99|£14,664.11|£9,076.73| ||||Shown as
£17,205.42 in
2021 due to
accruals
accounting|||| |Pre-paid vat on Fabric|£0.00|£0.00|£0.00|£479.77||| |**Bank Current and Deposit Accounts at year end**|**£16,275.28**|**£36,214.18**|**£12,110.27**|**£17,205.42**|**£19,425.99**|**£14,664.11**| |||||Figure shown
is due to
accruals
accounting||| 20 |**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**| |---|---|---|---|---|---|---|---| |**RESTRICTED FUND RECEIPTS & PAYMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024**|||||||| ||**Fabric**|**Floodlights**|**Sunday**
**School /**
**Young**
**People**|**The Poor**|**Restricted**
**Legacy**|**New Non**|**Totals exc**
**non**
**restricted**
**legacy**| |||||||**Restricted**
**Legacy exc**
**from totals**|| ||2024|2024|2024|2024|2024|2024|2024| |**Receipts**|||||||| |Interest|£622.58|£18.61|£1,013.66|£42.03|£0.00|£0.00|£1,696.88| |Donations orgrants or other Income|£0.00|£0.00|£782.51|£0.00|£0.00|£0.00|£782.51| |Contribution to Salary& On-Costs|£0.00|£0.00|£1,545.30|£0.00|£0.00|£0.00|£1,545.30| |Special Events|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| |VAT Refund on BuildingWork|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| |Transfers from Another Fund|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| |Closure of Account|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| |Gift Aid Refund from HMRC|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| ||**£622.58**|**£18.61**|**£3,341.47**|**£42.03**|**£0.00**|**£0.00**|**£4,024.69**| |**Payments**|||||||| |Repairs|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| |Salary& On-Costs|£0.00|£0.00|£22,107.10|£0.00|£0.00|£0.00|£22,107.10| |Return of Unused Grant|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| |Architect's Fees|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| |BuildingWork|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| |Sundries|£0.00|£0.00|£1,561.49|£295.00|£0.00|£0.00|£1,856.49| |Transfer to Another Fund|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| ||**£0.00**|**£0.00 **|**£23,668.59**|**£295.00**|**£0.00**|**£0.00 **|**£23,963.59**| ||||||||| |Excess of Receipts over Payments|£622.58|£18.61|£0.00|£0.00|£0.00|£0.00|£0.00| ||||||||| |Excess of Payments over Receipts|£0.00|£0.00|£20,327.12|£252.97|£0.00|£0.00|£19,938.90| ||||||||| |Bank Current and Deposit Accounts|**£7,332.63**|**£219.26 **|**£27,940.68**|**£721.61**|**£0.00**|**£0.00 **|**£36,214.18**| |at Start of Year|||||||| ||||||||| |**Bank Current and Deposit Accounts**|**£7,955.21**|**£237.87**|**£7,613.56**|**£468.64**|**£0.00**|**£0.00 **|**£16,275.28**| |**at End of Year**|||||||| 21 |**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**|**THURMASTON PAROCHIAL CHURCH COUNCIL**| |---|---|---|---|---|---|---| |**AS AT 31ST DECEMBER 2024**||||||| |||||||| |||||||| |**DEBTORS & CREDITORS**||||||| |||||||| |**CREDITORS & ACCRUALS**|**Total**|General
Fund|Restricted
Funds|||| |Electricity (Estimated)|£2,658.90|£2,658.90|£0.00|||| |Insurance Payout recieved for VestryWindow repairs outstandin|
£4,080.00|£4,080.00|£0.00|||| ||£6,738.90|£6,738.90|£0.00|||| |**DEBTORS & PRE PAYMENTS**||||||| |Gas|£698.79|£698.79|£0.00|||| |OutstandingPayment from Undertaker for Funeral on 09.10.24|£282.00|£282.00|£0.00|||| |Gift Aid & GASDS Refund from HMRC for 2024|£1,253.68|£1,253.68|£0.00|||| |Insurance 01.01.25 - 21.08.25|£2,525.98|£2,525.98|£0.00|||| |Water 01.01.25 - 31.03.25|£27.88|£27.88|£0.00|||| |Church Music Licences 01.01.25 - 30.04.25|£143.58|£143.58|£0.00|||| |Sim Card for Digital GivingMachine 01.01.25-31.10.25|£51.36|£51.36|£0.00|||| |Garden Bin Scheme 01.01.25-29.02.25|£8.08|£8.08|£0.00|||| |Estimated Interest from Nationwide Savings Account|£878.16|£878.16|£0.00|||| |OutstandingInterest on CCLA a/c no CB3027581-001|£862.11|£862.11|£0.00|||| |OutstandingInterest on CCLA a/c no CB3027582-001|£399.79|£0.00|£399.79|||| ||£7,131.41|£6,731.62|£399.79|||| |||||||| |Net Effect|£392.51|-£7.28|£399.79|||| |||||||| |||||||| |||||||| |**MONETARY ASSETS PRIOR TO ADJUSTMENT FOR DEBTORS**|TOTAL|TOTAL|TOTAL|TOTAL|TOTAL|TOTAL| |**AND CREDITORS**|AT 31.12.24|AT 31.12.23|AT 31.12.22|AT 31.12.21|AT 31.12.20|AT 31.12.19| |||||||| |CBF DEPOSIT ACCOUNT 3027581(Previously002)|£33,666.87|£31,969.96|£1,379.02|£1,361.12|£1,360.42|£1,354.67| |||||||| |CBF DEPOSIT ACCOUNT 3027582(Previously003)|£72,598.50|£68,939.32|£30,977.17|£30,575.03|£570.65|£568.24| |||||||| |NATIONWIDE BUILDING SOCIETY ACCOUNT|£37,917.01|£85,000.00|£350,115.55|£350,000.00|£0.00|£0.00| |||||||| |QUILTER INVESTMENT|£229,709.24|£208,770.90|£0.00|£0.00|£0.00|£0.00| |||||||| |RECONCILED BANK ACCOUNT|£13,108.65|£8,524.37|£52,274.99|£100,060.07|£94,568.53|£100,131.34| |||||||| |TOTAL AVAILABLE CASH|**£387,000.27 **|**£403,204.55 **|**£434,746.73 **|**£481,996.22**|**£96,499.60 **|**£102,054.25**| |||||||| |**ALLOCATED AS FOLLOWS:**||||||| |||||||| |**Non Restricted**||||||| |General(Non Designated)|£370,724.98|£366,990.38|£422,636.46|£464,339.80|£45,288.59|£83,341.64| |||||||| |**Designated**|£0.00|£0.00|£0.00|£930.77|£31,785.03|£4,035.49| |||||||| |**Legacy (unrestricted)**|£0.00|£0.00|£0.00|£0.00|£0.00|£13.00| |||||||| |**Restricted**||||||| |Legacy (restricted)|£0.00|£0.00|£0.00|£0.00|£0.00|£3,002.26| |Decorating|£0.00|£0.00|£0.00|£0.00|£19.33|£19.33| |Toilet|£0.00|£0.00|£0.00|£0.00|£12,550.49|£4,793.67| |Fabric|£7,955.21|£7,332.63|£7,180.91|£6,612.36|£3,859.95|£3,859.42| |Window|£0.00|£0.00|£881.61|£857.38|£857.17|£857.05| |In Memory|£0.00|£0.00|£325.68|£316.73|£316.65|£316.61| |Floodlights|£237.87|£219.25|£214.72|£208.82|£208.76|£208.74| |SundaySchool / Children & YoungPeople|£7,613.58|£27,940.69|£3,241.99|£8,472.29|£355.63|£349.07| |Youth Activities|£0.00|£0.00|£137.55|£133.77|£133.73|£133.72| |Choir|£0.00|£0.00|£0.00|£0.00|£0.00|£0.00| |Poor|£468.63|£721.60|£127.81|£124.30|£124.27|£124.25| |In Memoryof TerryHarley|£0.00|£0.00|£0.00|£0.00|£500.00|£500.00| |Clock|£0.00|£0.00|£0.00|£0.00|£500.00|£500.00| |||||||| |**OTHER ASSETS**||**NON MONETARY ASSETS**||||| |||As listed in the church terrier and inventory,||||| |Nil||held bythe churchwardens on special trust||||| |||for the Parochial Church Council,and which||||| |||require a facultyfor disposal.||||| 22 CHARITY COMMISSION FOR E￿[AND AAD WAiES Independent examiner's report on the accounts S•ctlon A Ind•p•nd•nt Ex•mln•rf8 R•port Repcrft to the trusteesl 31" t)ecwrts 2024 Chwrty 01 ami) 1193394 S* p•g•s I re￿ to the In￿ (m nry exwMal*)n cl the ￿CO￿ts at*M dwity llhfr TnAt'I enJ•J 3111212024 Responsibilities and b•sls of r• As the chwtys Inthes. a￿ reSw1Sb￿ Icff ￿ [￿e￿a￿￿ cl the llh• A(£) I resped (d my ex•mrntty d the TwuJl'¥ Carr￿d seclKffl 145 2011 ki arbj in crn examin8¢K￿, I habE Ickned al tr* ar*able DrectKm 9¥￿ ty Ihe Chwrty ComTh¥ssts)n urxler sth 14SI5}(bl d the AL1. Independent ccr* to my In Crthea￿ tAMh ihe examMk)n I ha￿ ￿ CLNKerns have ccrfne acsoss M (Aher mallers In connect wth io S￿kj be (tr4wm in . 2025 N•nw'. C¢Ykn Wf R•levant wdesslonal quallfic*tkxrfs) or body l any).. Aths5'. 16 WrydstA•yth Rd Lewleth. e LEII 4LQ IER Oct 2018 23 Section B D15closure Urily Lurrw.L"L I,. l.'I,' L'XdllllllL'f _'IL,-LJ. (see CC32. examknwTh d tharAy ￿t￿rtS.. aThl wjance l¢¥ exww51. I t1.￿..1.¥11_'llA￿._._￿l I'.1 JLLUX ij,. LU-.':LL'Ifl Give hefe briel delalls •xamirttr t*lsh•s lo dlsclos•. IER Oct 2018 24 ## **CHURCHWARDENS’ REPORT** It has been quite a difficult year as we have been dealing with several faculties, particularly for the heating in the church. The PCC have discussed the Minster reorganisation which is still on-going. During the year we have been lucky to book various ordained priests to take our communion services. John Hewer, Associate Minister, has taken Services of the Word while Dave Beck and Sam Bone, our Locally Authorised Ministers, have also contributed. We are very grateful to everyone who has helped with services throughout the year. Mandy Green decided to leave her post as Children and Families’ Worker, and we wish her every success in her future role. During the year we hosted a choir concert by the Ratcliffe Chorale and a Scout Band Concert which were both very well supported. Our regular Christingle service and Christmas events were again well attended. We are still holding the Foodbank every Monday which is proving to be invaluable. During the year we have had 5 Baptisms, 2 Weddings and 6 Funerals. We would like to thank the church members who have helped in various capacities during the year particularly the team who run the Foodbank and Thursday Coffee Time. Also, grateful thanks go to our Church Secretary, Darren Gartside, and Treasurer, Lesley Hyam, for all their hard work and commitment during the year. Kind regards John Tebbutt and David Lewis Churchwardens ## **BELLRINGING REPORT** During 2024 the ringers continued to play an active role in the life of the church. We were able to ring before the service on most Sunday mornings and we also rang for special occasions, such as the carol service and Midnight Mass. On 8[th] February 2024 we were honoured to ring half muffled after the funeral service of former Church Warden, Bob Davies, and on 21[st] September 2024 we rang before the Memorial Service for Anne Weir, a friend of the Ringers. A number of bands from other areas (Wymeswold, a group from Thornton, Markfield and Ibstock, and Leicester Guild Training event) visited St Michaels during the year to ring our bells and it is always good to welcome visiting ringers and hear about their towers. 25 Regular practices continued on Monday evenings and although numbers have decreased slightly we were still able to develop and improve our ability to ring a method called “Bob Doubles”. Visitors were welcomed as and when they came and we continue to encourage people to come and see what we do and to have a go if they feel so inclined. Lesley Hyam Tower Captain ## **BIBLE STUDY GROUP REPORT** The Bible Study Group has met a dozen times this year on Wednesday nights 7pm-8pm. There have been around 5 people attending regularly and I believe have enjoyed it and gained some benefit. We would be pleased for more people to join us. Please let me know if you are interested. David Beck Locally Authorised Minister ## **CHURCH ELECTORAL ROLL REPORT** The Church Electoral Roll is a list of those who consider themselves members of the local church and membership entitles participation in the democratic decision-making arrangements of the church. A new Church Electoral Roll has been prepared, which took effect from 7[th] April 2025, and there are 51 people listed on the new Church Electoral Roll. The PCC hopes that everybody who is eligible will want to join the new Church Electoral Roll. It is possible to join the Roll at any time following the Annual Parochial Church Meeting. Application forms are available from the Church Electoral Roll Officer. Darren Gartside Church Electoral Roll Officer 26 ## **DEANERY SYNOD REPORT** The Goscote Deanery Synod comprises two houses – the House of Clergy, and the House of Laity – with clergy and lay representatives from the parishes of Barkby; Birstall and Wanlip; Cossington; East Goscote; Queniborough; Rearsby; Rothley; Seagrave; Sileby; Syston; Thrussington with Ratcliffe-on-the-Wreake; and Thurmaston. Deanery Synods “consider matters concerning the Church of England and … make provision for such matters in relation to their deanery, and … consider and express their opinion on any other matters of religious or public interest” and “bring together the views of the parishes of the deanery on common problems, to discuss and formulate common policies on those problems, to foster a sense of community and interdependence among those parishes, and generally to promote in the deanery the whole mission of the Church, pastoral, evangelistic, social and ecumenical” (Synodical Government Measure 1969). The current Deanery Synod was elected in 2023 to serve for the triennium 1st July 2023 to 30th June 2026. The Co-Chairs are the Rev Canon Rob Gladstone, Area Dean; and an elected Lay Chair, a post which is currently vacant. The Deanery Secretary role is also currently vacant. Thurmaston’s two representatives during 2024 were Darren Gartside and Sandra Gartside in the House of Laity. As Thurmaston remained in vacancy, there was no representative in the House of Clergy. Sam Bone was elected to Diocesan Synod on 1[st] December 2024 to represent the Goscote Deanery and became an ex-officio Deanery Synod member. Deanery Synod did not meet during 2024, however as Thurmaston remained in vacancy, there was regular two-way communication between the Area Dean and Church Officers. Deanery Synod usually meets at various churches across the Deanery. Whilst voting is restricted to members of Deanery Synod, all church members are very welcome to attend, and future dates will be published in the church newsletter as they are confirmed. The members of Deanery Synod also form the electoral college for elections to Diocesan Synod and General Synod. Darren Gartside and Sandra Gartside Deanery Synod Representatives 27 ## **ECO CHURCH REPORT** Over 4 years ago, St Michael & All Angels was awarded a Bronze Eco Church Certificate from an organisation called A Rocha UK recommended and encouraged by the Leicester Diocese and whose main aim is to Care for God’s Earth. This was achieved by introducing new and different ways of doing things within church such as not to print unnecessary paperwork, use recycled printer paper where possible, change all light bulbs to LED bulbs, encourage the congregation to recycle as much as possible to prevent it going into landfill, buy eco-friendly cleaning products and fairtrade refreshments ie tea and coffee where possible. Outside in the church yard we created a wildflower area, placed bird boxes and bird feeders in various trees plus a bug hotel. These are all different ways to encourage more insects, birds and other creatures into the churchyard and surrounding areas. Obviously, this is an ongoing project and I am always looking for new and different ways to achieve the next level which is the **Silver Eco Church Certificate** but unfortunately this year each level of award has been changed considerably, and it now looks as though the Silver Eco Church Certificate is almost impossible to achieve which is hugely disappointing, but sometimes you just have to realise when there is nothing more one can do ... but, we still have the Bronze Eco Church Certificate and for that I am truly thankful. Angela Taylor Eco Church Co-Ordinator ## **FLOWER ARRANGERS’ REPORT** We are very grateful to all those who contribute flowers or donate money for flowers to decorate our church during the year. It is becoming increasingly difficult to have a fresh flower arrangement at the front of church every week and we thank those who have been responsible for donating artificial arrangements which we can use when necessary. We, also, thank all those who give so much of their time to decorate the church throughout the year and particularly at both Easter and Christmas. If any member of the congregation would like to provide flowers in memory of a loved one or in celebration of an event, please speak to Maureen Tebbutt. You do not need to be a flower arranger – a vase of flowers on the table at the back is a wonderful welcome as you enter the church. Maureen Tebbutt Flower Arranging Co-ordinator 28 ## **INTERCESSIONS’ REPORT** Once more a big thank you for all who have undertaken the role of producing and reading intercessions. We would be pleased to have more people join us on this rota. Anyone interested please let me know. David Beck Locally Authorised Minister ## **SAFEGUARDING REPORT** John Hewer serves as Parish Safeguarding Officer and Bijal Bhagwan serves as Safeguarding Independent Person. The Parochial Church Council has complied with the requirements imposed by the code under section 5A of the Safeguarding and Clergy Discipline Measure 2016. ## **SOAR VALLEY COMMUNITY FOOD PROJECT REPORT** Our Food Bank is part of the above project which has its headquarters at Mountsorrel Baptist Church, and we have fifteen regular volunteers from both the church and the wider community who help run it. We have a designated mobile phone. Anyone from Thurmaston who is in need of a food parcel can text or call on 07789 250529 before 6.00pm on a Sunday giving details of their family make up. The information is sent by email anonymously to Mountsorrel on Sunday night and an army of people at Mountsorrel Baptist Church make up the food parcels. We have nine of our volunteers, who work on a rota, who go to Mountsorrel on Monday morning to collect all the food parcels for Thurmaston. Those who have requested a food parcel collect it from St Michael and All Angels Church on Mondays between 1.00 and 2.00pm. Each week we have six of our volunteers who help at the Food Bank, talking to the clients, making tea and coffee and generally making them feel welcome. We are fortunate to have the services of a Financial Coach from the Project who can give financial advice to anyone who feels they would benefit from this service. During 2024 we have provided food parcels for approximately seventy individuals and families. 29 We are very grateful to all our volunteers who give up so much of their time to this Outreach Project and thank them for all their hard work and commitment. There is a basket at the back of church for any donations and we thank all those who have given generously during the year to the Food Bank. Maureen Tebbutt Food Project Co-ordinator ## **THURSDAY COFFEE TIME REPORT** Our Thursday Coffee Time is open from 10.30am until 12noon at the back of church and is run by a small group of volunteers. Whilst not set up as a fundraiser, Coffee Time generates funds for the church, enabled by the generosity of those attending, and volunteers who make or buy and donate cakes every week. Coffee Time is supported by a small group of regulars in addition to occasional visitors, including walking groups and local pre-schools, who sometimes call in to rehearse Christmas and Easter activities. We have a short prayer during Coffee Time read by a volunteer. All are welcome to pop in on Thursday mornings for coffee, cake, and chat. Sandra Gartside Coffee Time Co-ordinator ************************************************************************ The Parish Church of St Michael & All Angels, Thurmaston If we may be of assistance, please get in touch Baptisms / Confirmations / Weddings / Funerals / Pastoral assistance Call 07599 505133 Email services@stmichaelsthurmaston.org Soar Valley Community Food Project at St Michael’s, Thurmaston Call 07789 250529 30