## **THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS (Registered Charity: 1193766)** 

## **ANNUAL REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **Contents** 

Page 

- 1 - 4 Report of the Parochial Church Council 5 Independent Examiner's Report 6 Statement of Financial Activities 7 Balance Sheet 

- 8-13 Notes to the Accounts 

## **Churches:** 

St George Church, Lower Street, Harnham, Salisbury, SP2 8EZ All Saints Church, Harnham Road, Harnham, Salisbury, SP2 8JH 

## **Parish Hall and Parish Office (address for correspondence):** 

Lower Street, Harnham, Salisbury, SP2 8EY 

## **Clergy:** 

Reverend Rebecca Roberts (Vicar) Reverend Julian Poppleton (Assistant Priest until 30 April 2025) Reverend Mike Badger (Curate until 31 December 2024) 

## **Bankers:** 

Lloyds Bank plc, 38 Blue Boar Row, Salisbury, SP1 1DB Central Board of Finance of the Church of England, One Angel Lane, London EC4R 3AB 

## **Independent Examiner:** 

Vicki Poole, 18 St Georges Road, Salisbury, SP2 8LU 

## **Parish Contact number 07925 108856.** 

Email pccharnham@gmail.com 



**THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS** 

## **ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **STATUTORY DISCLOSURES** 

## **Members and Officers of the PCC** 

Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) held on 26May 2024 or in earlier years in accordance with the Church Representation Rules. 

The following persons served on the PCC during the year: 

**Clergy** Reverend Rebecca Roberts (Vicar) # Reverend Julian Poppleton (Assistant Priest) # (Resigned 30 April 2025) Reverend Mike Badger (Curate) # (Resigned 31 December 2024) 

**Churchwardens** All Saints' Church:-          Mr R Salkeld # St George Church:-         Mrs J Carr # (from 26May 2024), Mr C Woodd # until 26 May 2024 

**Deanery/Diocesan Synod Representatives (until APCM 2026)** Mr N Turpin          Mrs K Carter        Miss Frances Howard **Elected members** until APCM 2025           Dr K Mash #         Mrs J Brown #      Miss J West until APCM 2026           Mrs E Wilson         Mrs J Carr until APCM 2027           Mrs D Mussellwhite 

**Officers** Chair                           Reverend Rebecca Roberts Vice-Chair                   Dr Kate Mash (from September 2024), Mr Charles Woodd until May 2024 Secretary                     Mr R Scott from 23 July 2024,  Mrs L Baker until 23 July  2024 Treasurer                     Mrs J Scott # from 10 April 2024, previously vacant 

#  =  member of Standing Committee 

The PCC met 6 times during the year.  Between meetings it operates through its Standing Committee.  It has appointed working groups or sub-committees for certain tasks. The Standing Committee 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. 

Churchwardens and Officers attend training sessions held by the Diocese.  Other members of the PCC are encouraged to attend courses from time to time, according to their personal needs and interests.  The PCC intends to adopt a formal training regime. 

## **Church Attendance** 

There were 105 names on the new Electoral Roll that was published in May 2025.   4 people on the  Roll lived outside the parish. 

Between  40 and 60 regularly people attend our two churches every week.  Up to 16 receive communion at home with many more attending our monthly Messy Church as well as services at the local primary school. 

Where possible we live stream special services on YouTube: https://www.youtube.com/channel/UC9V2rf--r5MQuO0nbtVRI2Q where we have 109 subscribers. 

During the year there were 3 Baptisms, 5 Weddings, 13 Funerals and 10 Internment of ashes. 

Page 1 



**THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS** 

**ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)** 

## **FINANCE REVIEW** 

The Parochial Church Council of Harnham: St George and All Saints (the “PCC”) presents its reports and accounts for the year ended 31 December 2024. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The PCC, which is in the Diocese of Salisbury, is part of the Church of England and was established by the Parochial Church Council’s (Powers) Measure 1956, as amended and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969, as amended). It is a charity (Number 1193766) registered with the Charity Commission, regulated by the Charities Act 2011 which requires the PCC to report to its congregation and the public at large. PCC members are Trustees of the Charity.  The PCC is a Public Benefit Entity as defined in FRS 102. 

## **SUMMARY** 

The Accounts show that the parish had a general surplus of £14,700 (2023: deficit of £5,761). The overall general fund balance was a surplus of  £4,354 (2023: deficit of £10,405). 

The results for the year can be summarised as follows: 

||Unrestricted<br>Funds|<br> <br>Restricted<br>Funds|<br> <br>Endowment<br>Funds|<br> <br>Total 2024|Unrestricte<br>d Funds|<br>Restricted<br>Funds|<br> <br>Endowment<br>Funds|<br> <br>Total 2023|
|---|---|---|---|---|---|---|---|---|
||£|£|£|£|£|£|£|£|
|Incoming resources|141,108|<br>7,269||148,377|<br>135,296|24,120|-|159,416|
|Resources expended|126,408|<br>20,150||146,558|<br>141,057|11,098||152,155|
|Operating (deficit) /surplus|14,700|<br>(12,881)|-|1,819|<br>(5,761)|13,022|-|7,261|
|Exceptional Hall Transformation|||||||(116,329)|(116,329)|
|Gains and (losses)|59|<br>123|<br>2,244|<br>2,426|<br>224|467|8,486|9,177|
|Net change in funds in year|14,759|<br>(12,758)|2,244|<br>4,245|<br>(5,537)|13,489|(107,843)|(99,891)|
||||||||||
|Fund balance at end of year|4,354|76,466|200,226|281,046|(10,405)|89,224|197,982|276,801|



## **POLICY ON RESERVES** 

The PCC retains a range of unrestricted, restricted and endowment funds which are described in notes 9 to 11 to the financial statements. The general reserve fund is held to cover the PCC’s day to day activities. 

In light of guidance from the Church of England and the Charity Commission, the PCC have a reserves policy of 3 months recurring costs, or £35,000, currently being provided by the restricted funds for repairs & improvements on the Churches.  At the end of 2024, the Parish General Reserve amounted to a surplus of £4,354 with no further reserves or working capital. This has led to a practical cash deficit of approximately £30,000. The PCC has improved its position through general fundraising, a review of parish decision making, priorities and financial controls. This included a review and renegotiation of many costs, so that the 2024 results are  significantly better than budget estimate of £2,037 deficit . The 2025 budget and future year projections are hoping to continue this trend despite falling electoral roll numbers and increased Share costs. 

The Friends and All Churches Appeal reserves are amounts set to assist cover for repair and improvement of both churches. Both reserves were created in 2005 and were used in 2024 for improved lighting in both churches together with the repair of the buttress at All Saints. At the end of 2024 the value of the Friends fund was £23,645 (2023: £28,892). 

The PCC intends to make its approach to the management of its reserves more conservative but consistent with the requirement to fund its activities to meet its vision. The policy on reserves is reviewed each year at the time of approving 

## **MANAGEMENT OF RISK** 

The PCC continues to identify and manage the risks which arise from its day to day activities. The PCC views those risks under the headings of governance, operational, financial and external regulatory. 

Areas of risk are brought to the attention of the PCC for review as part of the standing agenda over the year and any changes required are minuted and actioned. 

Page 2 



**THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS** 

**ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)** 

## **MANAGEMENT OF RISK (continued)** 

The major areas on the regular agenda for consideration are the following: 

Annual budget and quarterly reporting Bank Mandate Expense authority policy Finance reserves policy Insurance policies Safeguarding of children and vulnerable adults 

## **SAFEGUARDING** 

The PCC have received regular updates from the Parish Safeguarding Officer and Incumbent. Jane Greenaway stepped down as Assistant Safeguarding Officer. The team have ensured that the PCC are informed of the action plan produced with the aid of the Salisbury Diocesan Dashboard and that it is actioned well . The PCC put a link to our team and safeguarding statement onto our Parish Website, A Church Near You and Church noticeboards. We are aware that the importance of being open and active in this area is vital for us as a church community often working with those who are vulnerable in many ways and that the culture of "It can happen here", is active and is owned by all. 

## **INVESTMENT POLICY** 

The policy of the PCC has been to invest surplus funds in low-risk interest bearing investments which provide flexibility without penalty and restricted funds held for longer term expenditure with CCLA Investment Management Ltd Investment Fund. 

The market value of investments at 31 December 2024 was £108,388 (2023: £105,961). In the Parish Accounts for 2024, an unrealised gain of £2,426 (2023: gain of £9,177) is shown in the Statement of Financial Activities. 

## **THE FUTURE** 

During 2025, the PCC will continue to apply funds in line with the Diocesan Vision, namely, To Make Jesus Known, here and now, that all may flourish and grow. A budget proposing this was put to the PCC meeting on Dec 2024 and was approved. Overall it is a budget with a surplus of £8,300 on the general fund, plus net capital expenditure to be met from restricted funds budgeted at £10,000, giving a net deficit of £1,700. 

The budget has been prepared including one-off donations and appeals of £25,000 (over the last two years these have been an average of £30,000) as well as providing a mid case scenario for costs and events held during the period. The three main cost headings (Parish Share, energy (heating & lighting) and photocopying) amount to over 70% of expenditure. The results for 2024 showed an improvement against the 2024 budget due to cost savings, which must be maintained and extended as much as possible. 

The Parish Share request of £81,100 (2024 £77,684) exceeds the Regular planned giving and collections, budgeted at £71,000 (2024 £72,701) by £10,100 (2024 £4,983). The running expenses for 2025 have been budgeted at £46,200 compared to £48,724 for 2024. Further cost savings and income will be needed if Share stays at this level, although falling roll numbers suggest that Share could reduce in future. 

After an in depth review of mission statistics and a deep dive into finance, the PCC are in discussion with the Diocese concerning a review of parish share contributions. The PCC has also seriously considered requests for older back payments of share noting that share is legally a donation, and that the Parish share paid has always been above the required finances for an incumbent, housing, training of curates, associates and LLMs. 

## **BUDGET SUMMARY TABLE** 

|**Budget for 2025**|Unrestricted<br>Funds|<br> <br>Restricted<br>Funds|<br> <br>Endowment<br>Funds|<br> <br>Budget<br>2025|<br>Unrestricted<br>Funds|<br> <br>Restricted<br>Funds|<br> <br>Endowment<br>Funds|<br> <br>Total<br>2024|
|---|---|---|---|---|---|---|---|---|
||£|£|£|£|£|£|£|£|
|Incoming resources|||||||||
|-giving|71,000||-|71,000|<br>72,701|<br>1,742||74,443|
|-other income & fees|64,600|2,000|-|66,600|<br>68,407|<br>5,527||73,934|
|Resources expended|||||||||
|-parish share|(81,100)|-|-|(81,100)|(77,684)|||(77,684)|
|-other costs|(46,200)|(12,000)|-|(58,200)|(48,724)|(20,150)||(68,874)|
|Gains|-|-|-|-|59|<br>123|<br>2,244|<br>2,426|
|Net change in funds inyear|8,300|(10,000)|-|(1,700)|14,759|<br>(12,758)|2,244|<br>4,245|
||||||||||
|Fund balance at end of year|12,654|66,466|200,226|279,346|4,354|76,466|200,226|281,046|



Page 3 



THE PAROCHIAL CHIJRCH COllh'CILOF
HARTr4HAM: CF.ORGF. AliD AI.1. sAl￿Ts
IP*DEPEP*DENT F.IAMIN"ER'S REP()RT
FOR THE YEAR ENDED 31 DECEMBER 2024
I r¢port on th¢ ynoudited a¢¢ount$ of The Paro¢hial ChuT¢h Council of H4rnh&m: St George and All S*ints for lh¢ ye•r
ended 31 De¢¢mber 2024, which are sei oui on phges 6 to 1.3.
I'his repon is made solely to the Charity'5 Trusiee& os a b(dy, in accordance with section 154 of the Charities Act 2011. My
exaniinaiion has be¢n underthk¢n so ihai I mtghi ihe Charity's Tnjsitts those Maile￿ l am required lo siaie io ihem
in an ittdependeni examiner's report And for no other purpose. To the fullest extent pemiitted bylow, I do not accep¢ or
assurne Tespon5ibility to anyone other than the Charity and th¢ ChaTity'5 T￿￿¢¢$ ¥$ a l¥)dy. for my I￿jePendent
examination. for Ihi5 rctxirt. or for the opinions I have forni¢d.
Respeetlve respottsibilltle5 of Tru5teeJ #nd exlmlner
The Charity'5 Trustee5 are responsible for the PT¢par8tion of the a¢counls. The Chyrity's TTUSte¢5 consider an audit 15 n
required for thi5 )ear under section 14421 of the Chariti¢s A¢1 2011 Ith¢ 2011 A¢tl and thai an ind¢p¢ndenl ¢xaminaiion ts
neede
It 15 rny Tesponsibility tt):
¢xamine the a¢count5 under Section 14.5 of the ?01 l Act:
rollow the proc¢dur¢s la5d dLlWI in Gcllerdl Dir￿tI￿$ 8iven by th¢ Charity Commissioners under
section 14.5{5Xbl of the ?01 l Act: and
to slate whether particular malters have come to my JtteThtion.
B8515 of indepeThdent ex*rn4ner'5 repDrt
My examination was carri¢d oul in accordance wtth the General Directions 8iv¢n by the Charity Commis5iontrs. An
examinaiion includes a review of the accounting records kepi by the Chariry and 8 comparison of the accounts presented
with those rewTds. li a150 includes a ¢onsideraiion of any unusual iiems or disclosures in th¢ a¢¢ollnts and seeking
explanations from you as Tn]stee5 conc¢Tt)in8 any such matter5. The proctdurts undertaken do not provide all the t￿￿ence
that w0￿]d be r4uired in an audit and consequently no opinion ts 8iven &s to whether the accounts present a'mie and fair
view, and the report is limited to those matters set in the s12È¢ment below.
IDdependeni ex*mlner'i siitement
In ¢onne¢iion wilh my examinaiion. no mailer has come 10 my atteniion..
11 I whi¢h gives me r¢gsonabl¢ ¢aus¢ io b¢lieve that ID any material respeci the requiremenis:
to kttp accounting records in ac¢(*dance with section 110 of the 2011 Act- and
to prepare ac£ounts which aCC￿d wth the 8ccountlEI8 rewrds and comply with the requirements or
the_￿11 Art
have t￿1 been tnet: or
12) to whicK in my opiniow attention sh￿Id b¢ drawn in order ￿ ¢nabl¢ a proper understandit)g of the
accounts to be r￿hed.
21 May 2025
V J Poole
18 St Georges R(*d
Salisbur
Wiltshire
SP2 8LU
Page 5

THE PAROCHIAL CHURCH COVNCIL OF
HARNHAM: STGEORGE AND ALLSAINTS
A14NI,AL REPORT FOR THÈ YEAR ENDED 31 DECEMBER 2024
(continued)
TRUSTEES RESPONSIBILITIES STATEMENT
'I'he oppli18hle 10 ¢hurt¢i¢5 in l.ngland yrxl WHEe¥ r¢quir¢5 thi Tru5tcLs to prcpwL fIn￿KIar stalcnKnls for Cach linancial y￿r
which give a and fair WI¢￿ ofihe ¢hariiy'¥ financi￿ aciiviiies during yeAr and i)f i¢S firtanLi81 p)Siiion 81 ihe end of(ht year.
In tir￿7¢181 statements wving a tn]e 2nd fair view. the Tn￿e¢S should follow pr8rtiLY and..
SeieL'I suitable acLa)unting ￿licit$ and #pplv them consi$t¢titly: m#k¢ jLWKrfs and estima¢e5 gre reasmable prud¢nL
Sia¢¢ llpplicablc accounting standard4 and sratrnienLs of rea)m￿￿￿lLY* pwic¢ hav¢ followed subject to gny
der*rturts diaek>8ed tytMI explBined in the financial ￿tr[n¢￿ts:
prepa￿ the financi￿ 5tatcmcnts on the going c4)nttrn kni5 unkss li is in8foTCWi* 10 pr£sw￿ the charity will coTriimJe
The Tru%kcs are TesrKmsible for kwing accouniing r¢£onb" h.hi4h di*1￿ with Y￿￿#bI¢ 1￿C￿raCY finatlLia] N)sili4)n of the
harits. and which ¢n&ble io &scertain ihe financ¢￿ ￿)Sttion of charity. and which a)able ihLTh io ensure thai Iht financial
SL*ments Comply with ftpplit&ble regulstto
Tk Tnwe¢s or¢ a19) r¢spMsible for safcgu8rding the of th¢ charity and hence for thklng re&wn8bl¢ sieps f￿ preveiiiion
and dctsxit￿ of frwd and ￿her iTfeBularitie
Tk attnual ryrt appfoved by th¢ PCC thi l* May 2025 and on thcir bchdfby..
Rev& RM Roberts
JCScottACA
Vtcar attd Cfvir
Page 4

**HARNHAM: ST GEORGE AND ALL SAINTS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** 

|**Unrestricted Restricted  Endowment**<br>**Total**<br>**Funds      Funds**<br>**Funds**<br>**2024**<br>**INCOMING RESOURCES**<br>£<br>£<br>£<br>£<br>Incoming resources from generated funds:<br>Voluntary income<br>Incoming resources from donors<br>72,701<br>1,742<br>-<br>74,443<br>Other voluntary income<br>22,565<br>4,969<br>-<br>27,534<br>Legacies<br>-<br>-<br>-<br>-<br>Charitable and ancillary trading<br>40,119<br>30<br>-<br>40,149<br>Investment income<br>5,723<br>528<br>-<br>6,251<br>Total incoming resources<br>Note 3<br>**141,108**<br>**7,269**<br>**-**<br>**148,377**<br>**RESOURCES EXPENDED**<br>Cost of generating funds:<br>Expenses of charitable and ancillary trading<br>15,079<br>30<br>-<br>15,109<br>Hall transformation costs<br>-<br>7,363 <br>7,363<br>Charitable activities<br>Donations & distributions<br>610<br>1,742<br>2,352<br>Diocesan Share, net of Direct Debit Discoun<br>77,684<br>77,684<br>Directly relating to the work of the Church<br>16,821<br>11,015<br>27,836<br>Church management and administration<br>16,214<br>-<br>16,214<br>Total resources expended<br>Note 4<br>**126,408**<br>**20,150**<br>**-**<br>**146,558**<br>**NET (OUTGOING) / INCOMING RESOUR**<br>**14,700**<br>**(12,881)**<br>**-**<br>**1,819**<br>Gains on investmentsNote 6<br>59<br>123<br>2,244<br>2,426<br>**NET INCREASE/(DECREASE) IN FUNDS**<br>**14,759**<br>**(12,758)**<br>**2,244**<br>**4,245**<br>Hall transformation fixed asset and costs transfer<br>Fund balances at 1 January<br>(10,405)<br>89,224<br>197,982<br>276,801<br>Fund balances at 31 DecemberNotes 9 to 11<br>**4,354**<br>**76,466**<br>**200,226**<br>**281,046**|_Total_<br>_2023_<br>£<br>_78,923_<br>_46,439_<br>_371_<br>_29,490_<br>_4,193_<br>_159,416_<br>_21,757_<br>_116,329_<br>_2,546_<br>_71,930_<br>_32,388_<br>_23,534_<br>_268,484_<br>_(109,068)_<br>_9,177_<br>_(99,891)_<br>_-_<br>_376,692_<br>_276,801_|
|---|---|



All activities relate to continuing operations. 

Page 6 



THE PAROCHIAL CHiIRCH COIINCIL OF
HARN'H.4M: ST GEORGE AIYD ALL S.4111 TS
B.4LANCE SHEET
AS AT31 DECEMBER 2024
Notes
2024
2023
FIXED ASSETS
Freehold Property
Equipmeni and Furniture
Invc5tmfflts i& Market Value)
TOTAL FIXED ASSETS
5 100.000
5.359
6 108.388
loo.000
7.229
11)5. YOJ
213, 190
213.747
CL.RREIYT ASSETS
CBF Deposii Account
Currertt Bank Accounts
50,238
36,049
9.141
95,428
47,7?9
20,94?
19,94
88,619
DebtOTS Prepa￿ne￿i5
Less.. CIIRREYT LIABILITIES
Amounts due within one ye
NET CURRENT ASSETS
23.560
19,802
71.868
68.757
Less: Amouttts due *fttr otse ye*r
4,569
5.140
TOTAL NET ￿ETs
281.046
276.801
Rcpre5cntÉn8=
DOWED FL'NDS
200,226
197,982
RESTRICTED FUNDS
10
76.466
89,2?4
UINRESTRICTED FUNDS
4.354
(JO.405)
TOTAL FiiNDS
2111.046
276,101
The accounts were approved and authorised for issue by the Irc on
and were Signed OTL their behalf by..
* May 2025
Jckn¥
Revd. RM Roberts
J C Seott ACA
PCC Tre8SLtrer
Vicar and Chair
Page 7

**THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS NOTES TO THE UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **1. ACCOUNTING POLICIES** 

## 1.1  Charity information 

The Parochial Church Council of Harnham St George and All Saints (the ‘PCC’) is a charity registered (no. 1193766) with the Charity Commission and a part of the Church of England established by the Parochial Church Council’s (Powers) Measure 1956 as amended by the Church representation rules. 

## 1.2  Accounting Convention 

The financial statements have been prepared in accordance with the Parochial Church Council’s  governing document, the Charities Act 2011 and the Statement of Recommended Practice: “Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”. The PCC is a Public Benefit Entity as defined 

The PCC has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. 

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments and Freehold Property. The principal accounting policies are set out below. 

## 1.3  Going Concern 

At the time of approving the financial statements, the PCC members have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. Thus the PCC members continue to adopt the going concern basis of accounting in preparing the financial statements. 

## 1.4  Charitable funds 

The accounts include all the charitable funds for which the PCC is legally responsible and PCC Members act as Trustees. 

Unrestricted funds are available for use at the discretion of the PCC members in furtherance of their charitable objectives. 

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in note10 to the financial statements. 

Endowment funds are restricted funds that must be retained as trust capital permanently and where the use of the income may be restricted or unrestricted. The purposes and uses of the endowment funds are set out in note 9 to the financial statements. 

## 1.5  Income 

Income is recognised when the PCC is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

Cash donations are recognised on receipt. Other donations are recognised once the PCC has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid of deeds of covenant is recognised at the time of the donation. 

Legacies are recognised on receipt or when the PCC has been notified of an impending distribution if the amount is known and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. 

## 1.6  Expenditure 

A liability is recognised when either a legal or constructive obligation is identified. 

Page 8 



**THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **1. ACCOUNTING POLICIES (continued)** 

## 1.7 Tangible fixed assets 

Consecrated and benefice property is not included in the accounts in accordance with section 10 (2)(a) and (c) of the Charities Act 2011, Moveable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory. 

## Endowed Freehold Property - Parish Hall 

Freehold Property has been brought into account at a valuation by the Trustees. 

Other tangible assets will be capitalised if their carrying value is supported by income and their cost is over £1,000. 

Other tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost of assets less their residual values on a straight line basis over their useful lives (3 to 20 years). 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 

## 1.8 Fixed asset investments 

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expenses as incurred. 

## 1.9 Cash and cash equivalents 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. 

## 1.10 Financial instruments 

The PCC has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS102 to all of its financial instruments. 

Financial instruments are recognised in the PCC’s balance sheet when the PCC becomes party to the contractual provisions of the instrument. 

## Basic financial assets 

Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

## Basic financial liabilities 

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 

Trade creditors are obligations to pay for good or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

## 1.11 Derecognition of financial liabilities 

Financial liabilities are derecognised when the PCC’s contractual obligations expire or are discharged or cancelled. 

Page 9 



**THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS** 

In the application of the PCC’s accounting policies, the PCC members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates. 

The estimated and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects both current and future periods. The most significant area of judgement that affects items in the accounts is to do with  estimating the market value of the Parish Hall after recent building works (note 5). 

|**3. INCOMING RESOURCES**<br>Incoming resources from donors<br>Planned giving<br>Donations under Gift Aid<br>Gift Aid Tax recoverable thereon<br>Parish Giving Scheme<br>Donations not under Gift Aid<br>Collections<br>Special Collections<br>Other voluntary income<br>Donations, Appeals, etc<br>Parochial Fees net<br>Legacies<br>Income from charitable and ancillary trading<br>Fundraising<br>Parish Magazine<br>Church Hall<br>Investment income<br>Dividends and Interest<br>Total income per SOFA<br>**4. RESOURCES EXPENDED**<br>Expenses of charitable and ancillary trading<br>Parish Magazine<br>Church Hall running costs<br>Transformation costs expensed<br>Donations and Distributions<br>Home mission and Church<br>Subscriptions<br>Special collections<br>Directly relating to the work of the Church<br>Ministry: Diocesan Share<br>Clergy Expenses, Services, Music<br>Church running costs, maintenance<br>Churchyards<br>**Church running costs**<br>**Church management and administration**<br>Church costs excluding Diocessan Share<br>**Total expenses per SOFA**|||2024|Total<br>18,821<br>4,705<br>35,086<br>2,863<br>11,226<br>1,742<br>**74,443**<br>20,948<br>6,586<br>**27,534**<br>**-**<br>12,696<br>2,348<br>25,105<br>**40,149**<br>**6,251**<br>**148,377**<br>1,141<br>13,968<br>7,363<br>**22,472**<br>400<br>210<br>1,742<br>**2,352**<br>**77,684**<br>7,690<br>17,310<br>2,836<br>**27,836**<br>16,214<br>**44,050**<br>**146,558**|||_2023_<br>_Total_<br>_22,536_<br>_5,549_<br>_38,146_<br>_2,447_<br>_8,428_<br>_1,817_<br>_78,923_<br>_41,179_<br>_5,260_<br>**46,439**<br>_371_<br>_6,588_<br>_2,478_<br>_20,424_<br>**29,490**<br>**4,193**<br>**159,416**<br>_1,154_<br>_20,603_<br>_116,329_<br>**138,086**<br>_400_<br>_210_<br>_1,936_<br>**2,546**<br>**71,930**<br>_9,469_<br>_17,447_<br>_5,472_<br>**32,388**<br>_23,534_<br>**55,922**<br>**268,484**|
|---|---|---|---|---|---|---|---|
|||Unrestricted<br>18,821<br>4,705<br>35,086<br>2,863<br>11,226<br>-<br>**72,701**<br>15,979<br>6,586<br>**22,565**<br>**-**<br>12,696<br>2,348<br>25,075<br>**40,119**<br>**5,723**<br>**141,108**<br>1,141<br>13,938<br>-<br>**15,079**<br>400<br>210<br>-<br>**610**<br>**77,684**<br>7,574<br>7,320<br>1,927<br>**16,821**<br>16,214<br>**33,035**<br>**126,408**|Restricted<br>1,742<br>**1,742**<br>4,969<br>-<br>**4,969**<br>**-**<br>30<br>**30**<br>**528**<br>**7,269**<br>30<br>7,362<br>**7,392**<br>1,742<br>**1,742**<br>116<br>9,990<br>909<br>**11,015**<br>-<br>**20,149**<br>**20,149**|||||



No PCC members received any remuneration in relation to their duties (2023: Nil). The Independent Examiner's fee amounted to Nil (2023: Nil) 

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**THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **5. FREEHOLD PROPERTY AND TANGIBLE ASSETS** 

In 2007 The Parish Hall was valued by the Trustees at £40k, as an estimate of the value to the PCC, based on a capitalisation of the hall's PCC usage at commercial rates. Building works kown as phase 1 and 2 of the "Hall Transformation Project" were undertaken in 2022 and 2023. No revaluation was undertaken at 31 December 2022 as the Hall was still under construction. 

There is now a pause in the project so the Trustees have reviewed the Hall's valuation in light of rental income in 2023. Since 2007 annual rental income has increased from £8k in 2006 to £20k in 2023 with a resulting uplift in valuation to £100k. 

The Trustees note the continuing economic uncertainty and accordingly have decided to base the property valuation upon historic rental income rather than assuming any future growth as a result of enhancements from the Hall Transformation Project or recovery from the Pandemic. 


**----- Start of picture text -----**<br>
Freehold  Equipment Total<br>Property<br>(Valuation)<br>£ £ £<br>Cost or valuation At start of year 159,177 9,316 168,493<br>Additions -<br>- - -<br>Disposals<br>Revaluations - - -<br>Transfers -<br>At end of year 159,177 9,316 168,493<br>Depreciation  At start of year 59,177 2,087 61,264<br>- - -<br>& Impairments Disposals<br>Depreciation 1,870 1,870<br>Transfers -<br>At end of year 59,177 3,957 63,134<br>Net Book Value At start of year 100,000 7,229 107,229<br>At end of year 100,000 5,359 105,359<br>**----- End of picture text -----**<br>


The net carrying amount of assets held under a finance lease included above is £1,500 (2023: £1,875). 

|**6. INVESTMENTS**<br>Unrestricted<br>Restricted<br>Endowed<br>2024<br>Market value at start of year<br>2,587<br>5,392<br>97,981<br>105,961<br>Proceeds of disposal<br>-<br>Gains) in year<br>59<br>123<br>2,244<br>2,426<br>Market value at end of year<br>**£2,646**<br>**£5,515**<br>**£100,225**<br>**£108,388**<br>The holdings consist of :-<br>Units<br>Value _ts_<br>Central Board of Finance of the Church of England's<br>Investment Fund<br>_4,677_<br>108,133<br>Fixed Interest Fund<br>_171_<br>255<br>The original cost of the investments is not known.<br>**£108,388**|_2023_<br>_96,784_<br>_9,177_<br>_£105,961_<br>_Value_<br>_105,713_<br>_248_<br>_£105,961_|
|---|---|



These investments are held to support the endowed funds (note 9), and cannot be expended. The interest income is available for use each year. 

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**THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **7. DEBTORS AND PREPAYMENTS** 

|**7. DEBTORS AND PREPAYMENTS**<br>Gift Aid Income Tax Receivable<br>Hall Rent Receivable<br>Legacies Receivable<br>Other Debtors<br>Prepaid Expenditure<br>**8 CREDITORS AND ACCRUALS**<br>Amounts due within one year<br>Sundry Creditors<br>Photocopier lease repayable this year<br>Accrued Expenditure<br>Amounts due after one year<br>Photocopier lease creditor repayable over 5 years<br>**Finance leases:**<br>The future minimum finance lease payments are as follows:<br>Not later than one year<br>Later than one year and not later than five years<br>Total gross payments<br>Less: finance charges<br>Carrying amount of liability|2024<br>**£**<br>5,305<br>1,322<br>-<br>2,514<br>**9,141**<br>2024<br>£<br>10,273<br>1,870<br>11,417<br>**23,560**<br>**4,569**<br>2024<br>£<br>1,980<br>5,901<br>7,881<br>(1,442)<br>6,439|_2023_<br>_£_<br>_11,960_<br>_1,845_<br>_-_<br>_6,143_<br>_-_<br>_19,948_<br>_2023_<br>_£_<br>_9,907_<br>_2,499_<br>_7,456_<br>_19,862_<br>_5,146_<br>_2023_<br>_£_<br>_1,940_<br>_7,437_<br>_9,377_<br>_(2,338)_<br>_7,039_|
|---|---|---|



The 5 year finance lease on a photocopier was incepted on 3 November 2023 and included the lease break costs on two previous photocopiers which were expensed in 2023 at £5,146. 

At the end of the lease terms the PCC has no option to purchase the assets. 

## **9. ENDOWED FUNDS** 

|(Funds that provide income but cannot be expended)<br>St George's Hall Property Fund<br>Warre Trust<br>Eckett (Churchyard) Trust<br>Mitchell (Churchyard) Trust<br>West Harnham Church Hall Fund|Balance at<br>Investment<br>Balance at<br>1 January<br>Gains<br>31 December<br>2024<br>2024<br>£<br>£<br>£<br>100,000<br>-<br>100,000<br>85,498<br>1,957<br>87,455<br>248<br>7<br>255<br>11,151<br>255<br>11,406<br>1,085<br>25<br>1,110<br>**197,982**<br>**2,244**<br>**200,226**|
|---|---|



**St George's Hall Property Fund** - the land on which the hall was built was bequeathed as a permanent endowment for ecclesiastical purposes.  The PCC acts as managing trustees for the hall and field, which are held by the Diocesan Board of Finance as custodian trustees 

**Warre Trust** - income is available for general purposes, while no stipendiary curate is appointed, however the The Diocese has confirmed that this will not be enforced. 

**Eckett (Churchyard) Trust** - income may be used for general purposes, as long as certain graves are maintained. 

**Mitchell (Churchyard) Trust** - income is to be applied to the maintenance of All Saints churchyard. 

**West Harnham Church Hall Fund** - income must be applied to the maintenance of the church hall. 

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**THE PAROCHIAL CHURCH COUNCIL OF HARNHAM: ST GEORGE AND ALL SAINTS NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **10. RESTRICTED FUNDS** 

|(Funds that can only be expended<br>on specified purposes)<br>Churchyard Fund<br>Appeal for both Churches<br>++<br>Friends of Harnham Churches<br>++<br>William Snow Memorial Fund<br>++<br>Organ Fund (general)<br>++<br>White - All Saints' Organ Fund<br>++<br>Pike - St George's Repair Fund<br>++<br>Snelling - All Saints Projects<br>++<br>Harper - St George generally<br>++<br>Wilcockson legacy for the hall<br>++<br>Hall Transformation<br>++<br>St George's Warre Artwork<br>++<br>Vicar's Discretionary Fund<br>++<br>Flower Funds<br>**<br>Chancel lights<br>++<br>Cycle racks<br>++<br>Youth work<br>**<br>Endowment income churchyards<br>Endowment income hall<br>Specific Collections<br>Activities surplus released to incom **|Balance at<br>1 January<br>2024<br>£<br>3,123<br>-<br>28,892<br>6,202<br>3,476<br>8,555<br>-<br>16,996<br>-<br>-<br>13,699<br>4,836<br>1,957<br>264<br>801<br>381<br>42<br>-<br>-<br>-|Incoming<br>Resources<br><br>£<br>2,406<br>-<br>2,138<br>425<br>528<br>30<br>1,742|Investment<br>Gains &<br>(Losses)<br>£<br>123|Transferred/<br>Expended <br>in year<br>£<br>(7,653)<br>(1,112)<br>-<br>(7,362)<br>(74)<br>(1,226)<br>(381)<br>(42)<br>(528)<br>(30)<br>(1,742)|Balance at<br> 31 December<br>2024<br>£<br>3,246<br>-<br>23,645<br>6,202<br>3,476<br>7,443<br>-<br>16,996<br>-<br>-<br>8,475<br>4,836<br>1,957<br>190<br>-<br>-<br>-<br>-<br>-<br>-<br>-|
|---|---|---|---|---|---|
||**89,224**|**7,269**|**123**|**(20,150)**|**76,466**|



++ = Specific donations not yet expended 

** = Self financing activities 

**Churchyard Fund** - for the benefit of All Saints. The fund has an endowed investment. 

**Appeal and Friends** - for the repair and improvement of both churches.  Both funds were launched during 2005. The stated objects of the Friends Appeal are to fund unplanned repair costs in the churches, take on specific projects for the parish and promote public awareness of the church buildings and their place in the community. 

**William Snow Memorial Fund** - this fund was created by a gift from Mr Snow (now deceased) to install glass doors at All Saints Church but practicalities and costings proved prohibitive and his representatives have directed that other projects will be undertaken from the fund in his memory. 

## **11. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|Unrestricted<br>£<br>Freehold property and tangible assets<br>5,359<br>Fixed Asset Investments<br>2,647<br>Cash<br>15,336<br>Other net assets/(liabilities)<br>(18,988)<br>Loan to unrestricted from restricted fund<br>4,353|Restricted<br>£<br>5,515<br>70,951<br>76,466|Endowed<br>£<br>100,000<br>100,226<br>200,226|Total<br>£<br>105,359<br>108,388<br>86,287<br>(18,988)<br>-<br>281,046|
|---|---|---|---|



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