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2024-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE

ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

CHARITY NUMBER 1128042

ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

I N D E X

Year ended 31 December 2024

Page
Vision statement 2
Report of the Parochial Church Council
Legal objects and function 3
Strategic aims 3
Objectives and activities 4
Achievements and performance in the year 7
Future plans 12
Financial review 13
Principal risks and uncertainties 16
Structure, governance and management 18
Trustees’ responsibilities 21
Administrative details 21
Independent auditors’ report 24
Statement of financial activities 27
Balance sheet 28
Cash flow statement 29
Notes to the financial statements 30

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

Vision Statement

Our vision: to see Jesus at the centre of every life, every marriage, every family, every and workplace, every community every nation.

We understand this to express the fundamental Christian belief that Jesus Christ is Lord of heaven and earth and all things and activities within them.

All Saints’ with St Andrew’s is a community of people in mission obeying the call of God to proclaim the Gospel in word and deed through the power of the Holy Spirit, so that this vision is fulfilled.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

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Year ended 31 December 2024

The Parochial Church Council (PCC) of All Saints’ with St Andrew’s presents its annual report, together with the audited financial statements, for the year ended 31 December 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (Financial Reporting Standard 102 (FRS 102)) in preparing the annual report and financial statements of the charity.

LEGAL OBJECTS AND FUNCTION

Our objects: All Saints' with St Andrew's principal object is to promote, in the Ecclesiastical parish of Woodford Wells, the whole mission of the Church.

Our function: The PCC is the body of Trustees whose main function is to co-operate with the Vicar in promoting that whole mission - pastoral, evangelistic, social and ecumenical. It also has statutory responsibility for the care and insurance of church buildings and property, for keeping proper financial records and for a range of other statutory matters, including health and safety procedures relating to employees, volunteers and visitors.

STRATEGIC AIMS

The PCC's strategic aims are developed and expressed as mission aims against the backdrop of values and a theological framework established over many years.

Our values: Recognising the love of God for all people and his commitment to His church, the PCC and the whole church community aim to respond with whole-hearted commitment to the Lord Jesus. Our values are:

Theological framework: Our church family believes people matter to God and seeks to serve our local community irrespective of their beliefs or response. The church endeavours to present the Gospel of Christ in word and deed in the belief that all people need to know Jesus for themselves. The church also believes that most people are likely to become disciples of Jesus if church members live a Christ-like life amongst them, share the good news of Jesus, demonstrate God’s love and prayerfully expect the Holy Spirit’s power to transform individuals, communities and whole nations.

All Saints’ has become a Resource Church in the Diocese and lies at the centre of The All Saints’ Minster (“the Minster”), a Mission and Ministry Unit (“MMU”) comprising the two churches of our own parish, together with the parishes of St Cedd’s Barkingside, St Paul’s Hainault, All Saints’ Highams Park, and Holy Trinity South Woodford. In addition, we continue to support the church planted at Barking Riverside which was fully established as a church in its own right as a registered charity in November 2021. All Saints’ with St Andrew’s is also a member of the Evangelical Alliance and has a long standing relationship with New Wine, a Christian organisation that pursues similar objectives in the UK and overseas. We also have a relationship with Westminster Theological Centre (WTC) and act as a training hub for the delivery of some of its theological education programmes and courses.

Our mission : The PCC's aim is that the church be a worshipping community which encourages all members to live a mission lifestyle, to share resources for mission work, and to direct ourselves to bringing Jesus to the centre of every life, marriage, family, workplace and nation.

In order to achieve these aims the PCC has developed a mission strategy for attaining its vision for the future. Although we meet in different congregations and in different church buildings the church community aims to be one worshipping community, sharing vision and values with Jesus at the centre.

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Within the life and activity of the church and in the resourcing and development of the Minster, our mission aims are expressed in four ways:

Presence : Jesus is brought to the centre of individual and corporate life when Christians live side by side with others, sharing their struggles and joys and building relationships of trust. In the context of these trusted committed relationships, faith can be shared at many different levels and the love of God perceived by people through Christian words and deeds.

Proclamation : Jesus is brought to the centre of individual and corporate life when Christians give voice to the Gospel - the Good News of Jesus Christ. As a church community we encourage, teach and celebrate the sharing of the Gospel both in personal testimony and through the use of creative arts.

Practical ministries : Jesus is brought to the centre of individual and corporate life when Christians demonstrate the transforming power of the Gospel through practical service and action in society. This might happen through the political process, through the charitable sector, in education or health, in partnership with local government or through expressions of kindness and care on either an individual or group level. In each case the intention is making real the transforming power of God’s love amongst his people.

Power of God : Jesus is brought to the centre of individual and corporate lives when Christians allow the power of God to confront the evil principalities and demonic powers of this current age. This might happen through ministries of deliverance and personal renewal, through peace and reconciliation ministries, through the prayerful transforming of communities in intercession or through the working of the redemption of unjust structures in society. In each case the victory of God in Christ over every form of evil is made evident in people’s lives for their blessing and benefit.

OBJECTIVES AND ACTIVITIES

Our activities : When planning activities for the year, the Vicar and the PCC consider the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. The PCC looks to its principal object and strategic aims to give structure to the activities and the objectives it sets.

Strategic priorities : In the light of on-going review and reflection by the staff and PCC, our strategic priorities continue to be on marriage and family ministry, youth and children’s work, evangelism and social action, all in the context of the evolving Minster where the PCC looks both to the immediate parish and to the resourcing of these ministries in other places.

Other key emphases : The strategic priorities and four expressions of Christian life and mission described above have led the PCC and staff to the following points of emphasis:

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

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Year ended 31 December 2024

Through carrying out these objectives and in promoting the whole mission of the church (pastoral, evangelistic, social and ecumenical) the PCC is confident (having had regard to Charity Commission guidance) that it delivers public benefit through community engagement, is a resource for the wider church, and supports those in need both spiritually and physically.

Parochial Ministry

The development and maintenance of a strong worshipping Christian community is achieved through the teaching in the church and online, both on Sunday and midweek, and also by running courses at a small group level to address particular aspects of Christian living. Staff members oversee the content of Sunday and other online services with significant lay involvement. Midweek courses are run by both staff and lay people with the main emphasis being on involvement in the small group life of the church. Small groups provide a significant structure for on-going pastoral care with crisis pastoral care being provided through the staff and pastoral team and through various specialist pastoral ministries of counselling and bereavement care.

To enable this to be sustained, the following activities are undertaken:

Providing materials, refreshments and occasional visiting speaker costs for services.

Much of the work is done privately, without recognition and by volunteers, and the hours and value of that time cannot be quantified.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

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Parish Share

The PCC makes a voluntary contribution to the Diocese of Chelmsford’s Parish Share Scheme, which is used to meet the stipendiary cost of ordained ministry and central diocesan support structures. In return, the stipends and employment costs of most of our stipendiary clergy are borne by the national Church.

Grants

Individuals continue to go out from the community of All Saints' with St Andrew’s to serve God in other parts of the world. The PCC aims to maintain a level of giving to missions, agencies and individuals, both at home and overseas, whilst continuing our financial contribution to mission through the Parish Share Scheme.

External Ministry

The church community exists to proclaim the Christian gospel and serve others. The PCC places a strong emphasis on outreach and community engagement. This continues through Life Events (baptisms, weddings, funerals), through the church’s service to the community and through individual Christian witness. Encompassed within church outreach is such work as community social action projects and events, church courses that explain the Christian faith, and courses which equip people with skills to enhance marriage, family life and community life. In particular, the PCC enables the staff and church community to engage in the following activities (subject to all relevant legislation and public health guidance):

Serving the spiritual needs of the local community and church family at significant times in their lives.

The PCC enables the development of ministry and mission across the Minster by the sharing of financial resources, facilities and people, including staff and lay members.

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As part of the “New Wine” network of churches and leaders, we operate as a resource for other churches, sharing what we are learning from God through worship, teaching and prayer ministry. This finds expression in a range of conferences, network meetings and mentoring gatherings.

ACHIEVEMENTS AND PERFORMANCE IN THE YEAR

In November 2024, All Saints’ celebrated the 150[th] anniversary of the church building’s completion and consecration. We marked this in special events, but also in some reflection on how God has worked and the values and priorities that have been so important in our history. The principal events were a well-attended church weekend at home in April and a civic celebration service in November. This latter event was also the occasion for a major exhibition of some of the history and impact of All Saints’ ministry over the years. An important part of the exhibition was the many testimonies and personal stories that were featured, reminding us that what we have inherited - and what we will by God’s grace pass on to future generations – has come from the Christian work and witness inspired by the faithful discipleship of those who worship here.

2024 was one marked by many changes amongst our staff. We have been blessed with outstanding new staff members, and are grateful for the contributions of those who have moved on.

Volunteers

The PCC and wider church community remains grateful for the unstinting efforts of its volunteers. Approximately 200 people will have provided services to the church during this financial year. The number of hours of service provided and their value to the church cannot be estimated or quantified. We are also dependent on the leadership provided by members of the church staff team.

Staff team

This time last year, we were aware that David Baker was in his fourth year and expected to leave by May 2024. We were delighted that he was able to find the right context for his incumbency at All Saints’ Highams Park, which as part of our MMU is within easy reach of All Saints’ so that we can continue in relationship.

We continue to have a great team in the parish office but, again, there have been changes in personnel. Helen Fraser stepped down as Director of Operations in November, having been in post almost two years. She became available to help us just as our previous Director of Operations retired and this post has been God’s provision for both us and her, as she supported her mother in her last months of life. The decision was taken not to replace this role with someone having an identical job description. This was in no small part due to the outstanding roles played by Rachel Whitelegg and Colette Vickers , as Operations Manager and Deputy Operations Manager. It was also a reflection of the wider changes within that team. Liz Harwood retired from her Operations Assistant role in July (though she returned as a volunteer to head up the fantastic 150[th] Anniversary exhibition), and Anisa Wright moved to the south coast (though continuing to support our Myriad church planting hub). In January 2025, after a period of reviewing what shape was required for the Operations team, we were delighted to appoint Jacinth Sundersingh (started February)

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and Matt Weldon (started March) to new positions as Operations Assistants. Hannah Rugg and Claudia Williams complete what is an excellent team. There is no expectation to add further to our paid staff in the office, but we are grateful for additional help from volunteers. We also remain extremely grateful for all of the practical, facilities and tech roles that Bob Darby undertakes as a contractor.

Another significant change in roles that support our mission and ministry was Yvonne Hough stepping down from serving as Financial Assistant, a role which she had undertaken for many years with great diligence. We are fortunate to have been able to secure the services of Catherine Farndon to help us in this area.

Early in 2024 both our Children’s Worker, Maddie, and Youth Worker, Alla, left for other roles. Recruiting into youth and children’s work is not easy for any church across the country and for some time it looked as though these posts would remain vacant. The roles have been rewritten as part of an overall review of youth and children’s work and we now think in terms of a Raising Generations team, covering the whole range of work from 0-18 as well as student ministry, under the direction of Fiona Green . It has been a great joy to see Raissa Luz de Figueiredo transition from being a second-year intern to being one of the senior staff. She has also been joined more recently by Ella Cox. We now therefore have two excellent Raising Generation pastors to work full-time alongside Fiona. There are huge opportunities for involvement and outreach in local schools and it is encouraging to have such a good team with capacity to respond. Additional Sunday and midweek support part-time is provided by Deladem Fudzi , on placement as part of her training as a children’s worker. Also at the beginning of the autumn term, Saint Andrew’s were able to recruit a replacement Children and Families worker in Rosie Houston and we look forward to all that she will bring there. We have long had an ambition to restart midweek toddler and baby groups, as well as to ensure good provision for all ages attending Sunday worship at St Andrew’s.

When Maddie McBride moved on to a new role last year, we also at the same time said goodbye to her husband, Leon McBride, who had given much assistance with tech and production. Those roles have been absorbed into our worship and tech team, under the leadership of Justin Lau and Tibz Adeniyi, with much support from Bob Darby , especially with funerals and weddings.

As Pastoral and Prayer Co-ordinator, Helen Morris has continued to build on the pattern of online prayer meetings started during lockdown. She oversees our pastoral support of the church family, working closely with the Pastoral Team (under Mark Castleton ), Counselling Team (under Lin Button ), and Hardship Fund committee. Much good has been achieved across the whole of Redbridge through the generous giving of the church family, but the decision was taken to refocus the Hardship Fund on situations of need within the church family or in the immediate local area. Helen’s bereavement courses have been especially appreciated. Elaine Swinney has continued to develop our pastoral ministry as a part-time Parish Nurse.

The Atrium continues to recover towards pre-pandemic levels and this year began twice-monthly openings on the first two Saturdays of every month. Becca Lyons returned from maternity leave in the summer term. We were grateful to Nicky Langford and Anastasiya Krasovska for acting as maternity cover for Becca, and Nicky now leads the Atrium team alongside Becca with both being Atrium Managers. The Atrium remains a very significant aspect of our outreach and pastoral ministry.

Our choir continues to enrich our worship, and we remain grateful for the leadership of Bill Cumber, David Sutton, Rachel Whitelegg and others, who have ensured that the choir remains in good heart. The tech team continue to ensure that we can live-stream the 9.30am service (as well as the 6.30pm service). This is greatly appreciated by those who are unable to attend in person.

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Celebrations and special events

We continue to believe that we should invest in conferences and celebrations which feed not only our own members but those from the surrounding area. As noted above, the major events of the year have included celebrations around the 150[th] Anniversary of All Saints’. We have also hosted conferences for Lin Button ’s Healing Prayer School, and several local events for New Wine .

External giving

Now that Parish Share is calculated and devolved to the MMU, All Saints’ is able directly to support parishes within the Minster. In 2024 we have, in aggregate, made a contribution to the wider Diocese again, above and beyond covering our own MMU’s costs. We were also able to maintain support for mission agencies and individuals sent out in mission and were delighted with the response to the various gift days, despite concern about the national economy and peoples’ personal circumstances. The generosity of the church family continues to be seen in a healthy Planned Giving scheme. In addition, we continue to support the parish “Hardship Fund” (offering support to church family members who are struggling in these hard times through small grants). However, all our streams of income are under pressure and there has been an attempt to strengthen the Planned Giving scheme by encouraging newer members of the church to take up their responsibilities in this regard. The growth of the numbers of people participating in the scheme is encouraging, but pressures on our budget from energy prices, London living wage and employers’ National Insurance contributions increases mean that further growth is always needed.

Mission and Ministry as All Saints’ Minster

The All Saints' Minster continues under Paul Harcourt’s leadership. The staff team continue to develop ways to work together effectively and lead a unit comprising seven churches across six parishes.

We remain convinced that this is an exciting model for the re-evangelisation of the local area, including our own parish, and we hope that all six parishes in our minster will flourish. A large part of our energies as a Minster team is now going into the challenge of supporting the life and ministry of these other churches, especially St Cedd’s Barkingside and St Paul’s Hainault. Sarah Clarke-Moisley has become incumbent at St Paul’s and a new team is slowly stepping up into leadership. Change - and challenging loss of capacity - is likely in other contexts too. Malcolm Porter retired from ministry at All Saints’ Highams Park and, as noted, we were delighted that David Baker has now taken over. Sam and Anna Pollard have established Church at Barking Riverside. Funding was due to end in 2024 but has been extended into 2025 and (at 50%) into 2026. Abi Todd at Holy Trinity South Woodford is seeing encouraging growth and had a wonderful response to the initial capital campaign for their site redevelopment. She was joined by Les Crossland , a recent member of All Saints’, who was ordained in the summer. However, her curate, Jonathan Huff, left to take on an incumbency in Cornwall.

Changes in national Church funding have meant that the “Strategic Development Fund” (SDF) initiatives have ceased, such as the Barking Riverside project, to be replaced by grants given from a new Strategic Mission and Ministry Investment Board (SMMIB). The diocese has been developing a bid to the board for projects in the Barking episcopal area and we hope to be one of the “Genesis Churches” identified as having experience to share in one of the key ministry themes identified. In our case, this would perhaps allow us to extend our youth and children’s ministry training to support and benefit other parishes. A decision on this is likely before Easter and could lead to new opportunities in the autumn. Another “theme” where we would naturally make a significant contribution is in “estate church planting”. This could be a natural next step for Marcus Giddy , and is an initiative we would like to support and integrate into our wider “Resource Church” approach.

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Creating a “pipeline” of leadership development to sustain and extend ministry and outreach is a major challenge for the years ahead. This will have to include lay leadership in a new way, rather than being reliant on stipendiary clergy. The “Myriad” scheme for the Church of England, which aims to equip parishes for these new patterns, especially lay-led church planting has a hub at All Saints’. Marcus Giddy , our pioneer curate, is overseeing the development of the hub, which has the support of the diocese. The fruit has already been seen in the successful Breathe congregation for adults with special needs and their families/carers at All Saints’. It is hoped that, as this first cohort of planters ends sometime later this year, a new cohort will be established.

Internships

We continue to run the New Wine Discipleship Year, and in partnership with the Diocese administer the Interns and Discipleship scheme which enables churches that are financially unable to support interns to experience the benefits of this significant training and development initiative. Justin Lau has been responsible in the last year. In 2023-2024 we had eight students based at All Saints’ and St Andrew’s, joined by one more from another parish outside the MMU. However, for various reasons including struggles to get visas, the number of interns at All Saints’ in 2024-2025 has been just three, again joined by one more from outside the MMU. The scheme is strong though, the calibre of speakers and of training continues to be high and makes this a significant contribution to the wider Church and development of younger leaders.

As in previous years, two of our interns from 2023-2024 have joined the team for an additional year. Emanuelle de Paula Barros da Silva and Abigail Luz de Figueiredo have been a great asset, supporting worship, tech and social media across the church.

Theological training

The Westminster Theological Centre local hub continues and is a significant resource for the wider church. Josh Green is in his second year as Hub Director and brings fresh energy to the programme. Josh formerly studied with WTC here, as well as having grown up in the church and having been previously an intern on the NW Discipleship Year scheme. There is the general benefit of continuing theological education, but we also see the hub as significant in developing leadership for our future mission plans. Recruitment remains a concern, with the cost-of-living crisis causing some people to defer their studies. Josh has also been recommended for training for Anglican ministry and combines leadership of our WTC hub with a part-time placement at All Saints’ as part of “mixed mode” training through St Mellitus’ Theological College.

Major festivals

Easter and Christmas services were highpoints in our church life once again. Our teams worked tirelessly to ensure that they could be celebrated well, in person and online. These services were much appreciated by both the congregation and wider community. Acknowledgement should be made of the large number of people who offer their gifts and skills to make these events so successful, with the Christmas celebrations particularly being an excellent example of us working together as a church across the different services.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

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New Wine

All Saints’ with St Andrew’s continues to play a major role in the New Wine movement with large numbers of people from the church community both attending and working on team at conferences both in this country and abroad. Paul Harcourt stepped down as the national leader of New Wine in May 2023, and Becky came off the National Leadership Team. These changes have released a lot of capacity back to All Saints’. Paul continues to lead the North-East London local network, based at All Saints’. We continue to host other leadership gatherings, training days, and worship events for New Wine. The church’s life and influence continue to be enriched through our involvement in New Wine. We aim to increase our attendance as a church group at the New Wine “United” summer festival, as well as facilitate events such as the Women’s “RESET” conference held at All Saints’ in February 2025.

Outreach

Clergy and staff have continued with the regular church outreach. The Alpha course remains our primary programme for evangelism. There have been extremely encouraging results in terms of new adult conversions. As mentioned earlier, in the past year Bereavement Courses remain fruitful.

Mark Castleton continues to head up Spirit Café, running as a monthly outreach based in Saint Andrew’s as well as a weekly “Place of Welcome” initiative. Spirit Café seeks to offer prayer ministry from a profoundly and overtly Christian basis but introducing the concepts using language that would be familiar from people outside Church, who consider themselves “spiritual but not religious”. These café evenings continue to see considerable blessing. Healing Services are also held monthly and attract a good number of people.

Prayer ministry is offered in person as well as through our online services and has been greatly appreciated.

Mission connections

The PCC continues to maintain the parish's historic commitment to the Mission Agencies and Societies with which we have links, and people have continued to be sent out from All Saints’ and St Andrew’s on shortterm mission work. The church link with the Diocese of Taita Taveta in Kenya remains but is less active. A new relationship with the Anglican Church in South Sudan was established through a ministry trip led by Paul and Becky Harcourt and resulted in a Lent Appeal to support two projects there. Links to South America and Egypt through Church Mission Society (CMS) continue to be vibrant. We were pleased to reach our full target for mission giving again this past year.

Creation Care

The growing awareness of the climate emergency prompted a thorough review of our stewardship of resources in 2019. A full sustainability audit was held which resulted in several areas of improvement which have been implemented by the staff team. In recent years, we have engaged in initiatives to involve and inform the congregation such as the promotion of “keep cups”, new recycling bins for disposable and biodegradable coffee cups, “car free Sunday”, and replacing our historic “Toy and Gift” day with a financial offering so that we can improve efficiency and reduce waste by enabling the supported charities to purchase only what is needed. Our tea and coffee in church is all Fairtrade-certified and we have Fairtrade accreditation as a church. Creation Care is an important aspect of our discipleship - we have a group to oversee and advise on improvements in this area and have recently achieved the Bronze Award for ecoexcellence. The group are active in encouraging good stewardship in this area throughout the congregation.

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Growing Hope Redbridge

Starting from conversations in the summer of 2023, we have taken the lead in establishing a new charity, Growing Hope Redbridge, which aims to offer free therapy to children under 18 with additional needs, diagnosed or undiagnosed. This outreach is incredibly supportive to families, many of whom face waiting lists for therapy through the NHS of several years. We have become the fifth such Growing Hope clinic in the country and were delighted to welcome Jack Davies onto team as Clinic Manager in January 2025. The project was publicly launched in February 2025.

FUTURE PLANS

The five priorities of our future development remain:

The PCC and staff remain focused on growing attendance across the MMU. Within All Saints’ we look specifically in five areas:

Challenges

We continue to face challenges in the coming year because of the economic impact of the cost-of-living crisis. Rebuilding activity to sustainable and supportable levels continues to be judged carefully.

There are increasing opportunities for mission, both through our existing Church ministries and in our own personal lives. The emphasis on personal evangelism needs to continue. There was previously a recognition that we are a “Resource Church” for the Diocese, who would be able to plant and grow new churches or revitalise existing congregations. With the change in many roles in the diocese, that recognition was lost for a season. Whilst fresh conversations have begun on the wider ministry of All Saints’, this has yet to result in anything strategic or clear. This is a challenge for the whole congregation, not only those who are specifically called and sent out. Developing a new pipeline of leaders, extending this not only to the lay staff but also to wider lay leadership, present and potential, remains a major feature of the coming season, especially with the reduction in stipendiary clergy in the Diocese.

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In the wider Church, there has been great concern at the seismic changes agreed at the General Synod in February 2024, which approved changes to the Church’s stance on blessing same-sex marriages. The changes were controversial and only narrowly approved. We continue to hope and pray that the bishops will lead the Church in all godly wisdom and biblical faithfulness, and that further controversy and division can be avoided. It is important that these things do not overshadow our primary concern and calling to preach good news to all people. Whilst views vary within the church, many feel compelled to protest these changes as unbiblical and ill-conceived. Until such time as proper and sufficient pastoral protection and provision is established, we find ourselves at odds with our bishops in this diocese. Despite repeated recognitions that some form of settlement is needed under which we can continue to minister in good conscience, nothing has been forthcoming from the General Synod and House of Bishops. The PCC continues to discuss what form any differentiation should take.

The PCC continues to monitor the salaries paid to our employed staff with suitable benchmarks; the PCC recognises that this is an ongoing challenge.

FINANCIAL REVIEW

Financial Performance

Operating Activities

2024 Actual 2024 Budget 2023 Actual
Income 1,074k 1,028k 1,191k
Expenditure (1,069k) (1,136k) (1,142k)
Surplus / (deficit) 5k (108k) 49k

The 2024 operating activities budget for the parish, approved by the PCC, was to make a £108k deficit before any transfer from the Mary Lee fund to cover expenditure on the upkeep and the fabric of All Saints’. The actual result was a £5k surplus (£16k deficit for All Saints’ and £21k surplus for St Andrew’s), from £1,074k income and £1,069k expenditure.

The reduction in total income against 2023 is explained by the lack of legacy income in 2024 (2023 - £227k); other sources of income showed good growth in 2024.

The activities of the church are principally funded by tax efficient giving by church members. The actual planned giving income, including income tax recoverable, increased by £85k from £622k in 2023 to £707k in 2024, an increase of 13%.

Income from charitable activities was higher at £234k (2023 - £196k) and has recovered to close to prepandemic levels in some areas.

The average number of staff employed during the year based on full-time equivalent was 10.5 (2023 - 10.5) and staff costs were £378k (2023 - £347k), reflecting increased total payroll costs. Church maintenance and repairs were up at £62k (2023 - £59k).

In the general operating activities expenditure £53k of costs were in respect of the upkeep and the fabric of All Saints’, so a transfer of £53k was made from the Mary Lee Legacy fund to the All Saints’ general fund to cover the expenditure. As there was only £26k in the cash element of the Mary Lee Legacy fund, £27k of the transfer was from the property element of the Mary Lee Legacy fund. At 31 December 2024 ownership of Vernon Avenue was split 11% general fund and 89% Mary Lee Legacy fund.

Details of the movements on the general, designated and restricted funds are shown in note 16.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

Designated funds have decreased by £50k. The movements include £38k spent on refurbishing 14 Ashdon Close, £14k set aside for future property maintenance, £10k gift to All Saints’ Highams Park and £11k reduction to the Ministry fund due to costs of the New Wine leaders conference.

Restricted funds have increased by £27k.

2025 Budget
2025 Budget 2024 Actual 2023 Actual
Income 1,061k 1,074k 1,191k
Expenditure (1,148k) (1,069k) (1,142k)
Surplus / (deficit) (87k) 5k 49k

The parish budget for 2025 is to make an £87k deficit on operating activities, before any transfer from the Mary Lee fund to cover expenditure on the upkeep and the fabric of All Saints’ (which is expected to be around £24k). The budgeted deficit is split £89k deficit for All Saints’ and £2k surplus for St Andrew’s, before the Mary Lee fund transfer.

The budget assumes that planned giving, including income tax recoverable, will be £684k, £23k lower than 2024. This is still a stretching target, given ongoing cost of living challenges. In charitable activities, a small increase in overall income is anticipated, with growth in The Atrium continuing towards its pre-pandemic level.

On the costs side, the expectation is that expenditure will increase by approximately £78k across the parish, largely reflecting payroll cost increases (higher number of staff, London Living Wage and Employer’s NICs) partly offset by savings in other areas.

We acknowledge the need for the continuation of our Stewardship Campaign to encourage new and existing members of the church to commit to regular giving in a tax efficient manner.

Balance sheet position

The net assets at the balance sheet date totalled £3,175k (2023: £3,126k). Included in this figure are general fund residential properties totalling £1,997k, and general fund furniture and equipment totalling £5k. Of the remainder £731k is held in restricted funds (£604k of which is residential property), leaving £442k in unrestricted funds. Within unrestricted funds £40k is designated and £402k is general. The designated and restricted funds include £7k and £7k respectively, in the Development and Maintenance Depreciation fund, held as fixed assets, which will be used over the next 2 years as depreciation is charged.

The total cash balance at year end amounted to £576k of which £121k is restricted (see note 17) and of the balance £33k is designated leaving £422k available for general unrestricted funds, which is sufficient for 4.4 months of normal operating activities, based on 2025 budget figures. The Trustees believe this level of reserves is appropriate as extra cash is needed to fund the 2025 budgeted deficit on general operating activities.

The Trustees consider that the operations continue to be viable given the current rate of income and unrestricted funds.

Properties

The 4 bed house in Ashdon Close, purchased in December 2023, underwent some modest renovations in the early part of the year and was then used to house 4 interns as planned.

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Year ended 31 December 2024

Reserves policy

Free reserves

We are a faith community and rely principally on funding from members of the congregation as led by God. It is the PCC’s policy to maintain a balance of available general unrestricted funds in cash and bank accounts (where possible) to equate with 3 months (25%) of annual unrestricted payments, to cover emergency situations which may arise from time to time. This has been achieved at 31 December 2024.

Designated funds

The PCC may designate additional unrestricted funds to be retained for an agreed purpose where this is considered to be prudent. Such designated funds are reviewed on an annual basis and returned to the general unrestricted fund in the event that the purpose of their designation is no longer considered to be adequate justification for their retention. A description of each fund together with the intended use of the fund is set out in note 16. At 31 December 2024 total designated funds were £40k (2023: £90k).

Restricted funds

The PCC holds several restricted funds, totalling £731k at 31 December 2024 (2023: £704k). A description of each fund together with the specified use of the fund is set out in note 16.

Fundraising policy

The PCC has adopted a Fundraising policy which recognises that as a charity we are dependent on the support of the members of our congregation. All regular members of the church are encouraged to participate in a committed manner, through the Planned Giving Scheme, to the general financial needs of the church. This, together with the relevant tax recoveries, is the main source of regular income to the church. We do not use external fundraisers or direct mailing to the general public.

Pay policy

The PCC aims to be recognised as a good and reasonable employer respecting the skills, abilities and personal aspirations of its staff, and seeking to help them to develop their contribution to the effectiveness of the ministry of building the Kingdom within the community. The PCC annually reviews the Pay policy in order to ensure that the pay structure fairly reflects the seniority, experience and responsibilities of its staff. The PCC pays the London Living Wage as a minimum to all staff.

Grant making policy

Grants are made to individuals and organisations to promote the fundamental Christian belief that Jesus Christ is Lord of heaven and earth. This involves helping those who are:

In carrying out this objective, the PCC continues to support a variety of societies and agencies with which the church community has a strong personal relationship. Individuals continue to go out from the community of All Saints’ with St Andrew’s to serve God in other parts of the world. Note 3d shows the amounts which have been given to individuals and organisations.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

Investment policy

The PCC recognises the need for good stewardship of any excess cash balances and resources that the church may hold from time to time. In March 2022 the PCC, on the recommendation of The Risk and Governance Committee (RGC) adopted a new Investment Policy. This reflected the fact that the PCC then held significant cash balances some of which were capable of being segregated as long-term reserves and invested. The investment objective for any long-term reserves is to generate a return in line with or in excess of inflation over the long term whilst generating some income to support the ongoing activities of the Parish. The investment objective of the remaining, short-term, reserves, which are held to meet the Reserves Policy, is to preserve capital value with minimum level of risk. The RGC is authorised to research and recommend any bank deposit account that it considers suitable for the holding of short-term reserves. Any new account recommended by the RGC to the PCC will be authorised by the PCC at one of its meetings. All accounts must be capable of responding within the projected cash flow requirements of the PCC. All accounts operated by the PCC will be with institutions authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority.

The PCC has asked the RGC to monitor the cash balances and to report to it if the balances held at any single institution exceeds £250,000. At present the PCC continues to maintain slightly higher cash balances than reserves policy levels in light of its budgeted deficit for 2025 and some significant fabric and maintenance costs over the next 5 years. However, arrangements have been made with CCLA, a specialist Church and Charity fund manager, which allow the PCC, if it wishes, to invest some or all of any amount identified as long-term reserves in the CBF Church of England Investment Fund managed by CCLA. This fund fully complies with The Church of England’s ethical investment guidelines.

Details of the interest received in the year are shown in note 2d.

The PCC continues to hold four residential properties for staff / interns, which are non-income producing and are not held as investments. Details of these are shown in note 11. As one of the properties is substantially held in a Restricted fund the RGC has recommended, following professional advice, that the General fund makes an internal rental payment per month to reflect the net rental achievable in the open market. During the year £27,862 was received/transferred in respect of this arrangement (2023: £30k).

PRINCIPAL RISKS AND UNCERTAINTIES

The PCC is responsible for the identification, mitigation and or management of risk. To achieve this, a register of all the risks identified is maintained and, alongside it, a management and mitigation strategy formed. This is subject to review by the PCC on an annual basis with the responsibility for delivery of the mitigation strategies identified by it being delegated to the Churchwardens.

Risks

The risk register identifies four areas where the risk of either failure to act or the impact of the events is considered ‘high’. These areas and the associated mitigation strategies are:

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

Reduced Income: Reduction in congregational giving, particularly in a time of high inflation generally and significant cost of living challenges in energy, housing and food:

Safeguarding:

Key Staff Changes

Catastrophic Building Failure or Major Repairs

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

Uncertainties

The narrowly approved decision of the Church of England’s General Synod to move ahead with the blessing of individuals in same-sex marriages, whilst not changing the established doctrine of marriage, has heightened divisions in the Church with many concluding that when implemented, the new provisions will effectively undermine centuries of established teaching and practice. A degree of fracture in the worldwide Anglican Communion is becoming apparent and concerns for the continuing unity of the Church of England continued to be expressed.

For Churches such as All Saints’ with St Andrews, who believe that the Bible is the Word of God and that it is our authority in all things, the new provisions have increased tensions and conflict with the Diocese and its Bishops. The PCC continues prayerfully reflecting on how it should respond to the situation. However, it is acknowledged that there may be implications for the support and opportunities afforded to the Parish by the Diocese in relation to Curate posts and in other ways, and for the Parish’s willingness to provide support to the Diocese, including financially.

Related Party Transactions

The RGC is responsible for monitoring and approving any transactions with related parties (for related party transactions see note 10).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Summary Information about the structure of the Church of England

The Church of England is the established church and HM The King is its Supreme Governor. It is organised into two provinces (Canterbury and York) and 42 Dioceses. Each Diocese is a See under the care of a Bishop who is charged with the cure of souls of all the people within that geographical area. This charge is shared with priests within benefices and parishes which are sub-divisions of the Diocese.

The Diocese of Chelmsford is split into three areas - Barking, Bradwell and Colchester - each with an area bishop. These areas are subdivided into archdeaconries and then deaneries. All Saints' with St Andrew's is within the Archdeaconry of West Ham, is the largest church within the Redbridge Deanery and it has formed a MMU of six parishes called All Saints’ Minster.

Organisational structure

All Saints’ with St Andrew’s is part of the Diocese of Chelmsford within the Church of England. Under the provisions of the Charities Act 2006 the parish registered separately with the Charity Commissioners in February 2009. The parish was registered as The Parochial Church Council of the Ecclesiastical Parish of All Saints Woodford Wells but throughout the year used its long established descriptive name of "All Saints' with St Andrew's”. The Charity Registration Number is 1128042 and the HMRC Charities Reference Number is X20650. Its governing documents comprise the Parochial Church Council Powers Measure (1956) (as amended) and the Church Representation Rules.

During the year ended 31 December 2024 All Saints’ remained registered as a separate Charity under the Charities Act 2011. Trustees (members of the PCC) are either ex-officio, elected by the APCM or co-opted by the PCC in accordance with the Church Representation Rules.

Title to the property interests of the PCC as at the date of this report are held on its behalf by the Chelmsford Diocesan Board of Finance as Custodian Trustee.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

Decision making structure

The PCC meets 10 times a year and the Trustees are supported by the following committees which operate under Terms of Reference approved by the PCC:

Standing Committee Senior Management Team

St Andrew’s Committee

Risk and Governance Committee Mission Committee Hardship Fund Committee

The roles and operations of the committees are summarised below:

Standing Committee

The Standing committee of the PCC consists of the Vicar, the two Churchwardens, the Treasurer and another elected member of the PCC. There was no requirement for the Standing Committee to meet this reporting year and therefore there was no appointment of an elected member of the PCC.

Senior Management Team

The SMT carries out the detailed, day to day and routine work of the PCC between PCC meetings. The SMT is accountable to the PCC, and the Vicar reports any significant issues considered by the SMT at the next PCC meeting. The SMT meets usually once or twice a month, as required by the Vicar, who chairs the meetings.

St Andrew’s Committee

This committee supports the Minister in Charge in the running of services in and outreach from St Andrew’s. It is also responsible for managing the St Andrew’s budget within the overall budget of All Saint’s with St Andrew’s as agreed by the Treasurer. It also monitors the use and allocation of any restricted funds given for St Andrew’s. The Minister in Charge makes a regular report at each PCC meeting on the development of ministry at St Andrew’s. The Committee meets 5 times a year.

Risk and Governance Committee (RGC)

The RGC supports the Treasurer in his position and provides oversight on behalf of the PCC on the governance of the church’s activities & finances, its strategy, risk management and the responsibilities of the Trustees of the PCC, including reporting to the Charity Commission and other regulatory bodies. The RGC is chaired by the Treasurer and reports any significant issue to the PCC.

Mission Committee

The Mission Committee reviews and monitors the parish’s missionary links and associations. It advises the Vicar and PCC on the financial support given to our missionaries and organises prayer support linking them to Home Groups.

Hardship Fund Committee

The Hardship Fund Committee, comprising one member of the clergy and 4 lay members, reviews requests for assistance from the hardship fund against its terms of reference and approves grants as appropriate.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

The PCC's affiliations with The Evangelical Alliance, New Wine and WTC, whilst important in giving focus to its theological framework, do not impact on the operating policies adopted by the PCC in the day to day management of operations.

The PCC is aware that it remains the responsible legal body for all strategic decisions.

Trustee recruitment, selection and induction

A list of Trustees (PCC members) serving since 1 January 2024 to the date of this report is set out on page 22.

Active church members are nominated either by current PCC members or by other church members for consideration as potential Trustees. Selection is by annual election by church members at the APCM in accordance with procedures set out in the Church Representation Rules. All Trustees have to sign an annual declaration that they are a fit and proper person and that they are not disqualified from serving by the Church Representation Rules as a Trustee. Potential Trustees are required to sign the declaration prior to election at the APCM.

Newly elected Trustees are introduced into the life of the PCC at the first meeting following their election. An induction meeting is held in which their roles and responsibilities are clearly explained and the PCC is reminded at the beginning of each term of service of their responsibilities as Trustees. Ongoing teaching and training in the purposes of the church and the strategies adopted to pursue them is a feature of most PCC meetings. Trustees are also made aware of their requirements under law through legal briefing papers issued by the church’s finance team and other professionally qualified advisers and all new Trustees are issued with the Charity Commission booklet CC3 setting out the roles and responsibilities of Trustees.

Remuneration of key management personnel

The PCC, as the employer of all the paid staff apart from the stipendiary clergy, seeks to pay its staff at a rate consistent with other churches of a similar size and complexity, together with relevant benefits including a non-contributory workplace pension scheme administered by Standard Life and NEST. In addition, the PCC ensures that the ratio between the lowest and highest rates of pay is fair and reasonable, reflecting the seniority, experience and responsibilities of current staff.

Salaries are reviewed annually in January and approved by the PCC. There are no employees paid in excess of £60,000 per annum, see note 7. Key personnel are listed on page 23 and details of remuneration are shown in note 7.

Delegation of day to day delivery

Some day to day decisions on expenditure and activities are delegated to the staff and volunteers in charge of different areas of the church, with budgets set and activities monitored by the PCC and the SMT. The principal delegation by the PCC is to the Vicar, Paul Harcourt, and through him to the individuals with responsibility for particular areas and functions, the senior members of which comprise the SMT. Some staff hold the title of ‘Director’, but this relates to their function within the organisation and has no legal meaning within the terminology associated with the Companies Act 2006.

Data Protection

The PCC is responsible for ensuring that the church complies with the current Data Protection Regulation. The Data Privacy Notice is available to view on the church’s website.

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

TRUSTEES’ RESPONSIBILITIES

The law applicable to charities in England and Wales requires the members of the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the incoming resources and application of resources during the year then ended.

In preparing those financial statements, the members of the PCC should follow best practice and are required to:

The members of the PCC are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the church and which enable them to ensure that the financial statements comply with the Church Accounting Regulations 2006 and the Charities Act 2011. The members of the PCC are also responsible for safeguarding the church’s assets and hence for taking reasonable steps towards the prevention and detection of fraud and other irregularities.

The members of the PCC are responsible for the maintenance and integrity of the corporate and financial information included in All Saints’ with St Andrew’s website. Legislation in England and Wales governing the preparation and dissemination of financial statements and other information included in Annual Reports may differ from legislation in other jurisdictions.

STATEMENT OF DISCLOSURE TO THE AUDITORS

So far as the members of the PCC are aware:

APPOINTMENT OF AUDITORS

The re-appointment of Haslers as auditors to the Parochial Church Council of All Saints’ with St Andrew’s will be proposed at the APCM.

ADMINISTRATIVE DETAILS

Church Electoral Roll
As at 31 December 2023 553
Net additions/(reductions) 39
As at 31 December 2024 592

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R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

Trustees

During 2024 and to the date of this report the following served as members of the PCC in the capacities listed:

Incumbent The Revd. Paul Harcourt (Chairman)
Associate Minister The Revd. Mark Castleton
Curate The Revd. David Baker (to June 2024)
The Revd. Marcus Giddy
Diocesan Synod Heather Housden
Deanery Synod Sophia Burley (from July 2024)
Dean Gillespie (to April 2024)
Stephen Green
Frank Hawkins
Mary Nunns
Stella Redburn
Anne Sachs
Churchwardens Nicholas Gray
Heather Housden (Vice Chair)
Deputy Wardens Joshua Green
Roxana Del Pilar Lobos Sepulveda (from April to July 2024)
Matt Jackson (from July 2024)
Albert May (to April 2024)
Hon Treasurer Frank Hawkins
Elected PCC Members Gillian Hampton
Lydia Joiner
Sheila Oakes
Paul Sherrington
Josephine Smith
Eunice Sparks (to April 2024)
Terence Stamp
Daniel Vickers
Nersen Pillay (from April 2024)
Neka Ekine (from April 2024
Adrienne Wright (to April 2024)

During 2024 the following staff attended PCC meetings by invitation:

Pastoral and Prayer Co-ordinator Helen Morris Operations Director Helen Fraser Director of Youth, Children’s and Families Ministry Fiona Green Leader of Pastoral Ministry Lin Button Youth Pastor Alla Mykhailenko Children’s Pastor Maddie McBride Raising Generations Pastor Raissa Luz de Figueiredo Raising Generations Pastor Ella Cox Worship and Discipleship Year Pastor Justin Lau Worship and Creative Pastor Tibz Adeniyi

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

R E P O R T O F T H E P A R O C H I A L C H U R C H C O U N C I L

Year ended 31 December 2024

Key personnel: The church regards the following people as key personnel: Church leaders The Revd. Paul and Becky Harcourt Associate minister The Revd. Mark Castleton Churchwarden Heather Housden Churchwarden Nicholas Gray Treasurer Frank Hawkins Operations Director Helen Fraser (to November 2024) Operations Manager Rachel Whitelegg Director of Children, Youth and Family Ministry Fiona Green Worship and Discipleship Year Pastor Justin Lau Worship and Creative Pastor Tibz Adeniyi Pastoral and Prayer Co-ordinator Helen Morris

Registered Office : The Parish Office of All Saints’ with St Andrew’s Inmans Row, Woodford Green, Essex, IG8 0NH Bankers : HSBC Bank plc 74 High Street, Ilford, IG6 2GN Deposit holders : Scottish Widows plc 67 Morrison Street, Edinburgh, EH3 8YJ Church of England Central Board of Finance Senator House, 85 Queen Victoria Street, London, EC4V 4ET

Auditors : Haslers

Old Station Road, Loughton, Essex, IG10 4PL

Solicitors : Winckworth Sherwood Minerva House, 5 Montague Close, London, SE1 9BB

This report was approved by the PCC on 24 March 2025 and signed on its behalf by:

Revd. Paul Harcourt Vicar

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I N D E P E N D E N T A U D I T O R S ’ R E P O R T

Year ended 31 December 2024

Opinion

We have audited the financial statements of The Parochial Church Council of the Ecclesiastical of All Saints Woodford Wells (the charity') for the year ended 31 December 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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I N D E P E N D E N T A U D I T O R S ’ R E P O R T

Year ended 31 December 2024

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financials statements themselves. If based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustee's responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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I N D E P E N D E N T A U D I T O R S ’ R E P O R T

Year ended 31 December 2024

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Haslers

Chartered Accountants Statutory Auditor Old Station Road Loughton IG10 4PL

24 March 2025

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S

Year ended 31 December 2024

Notes
Income from
Donations and legacies
2a
Charitable activities
2b
Other trading activities
2c
Investments
2d
Other
2e
Total income
Expenditure on
Raising funds
3a
Charitable activities
Parochial ministry
3b
Parish share
3c
Grants
3d
External ministry
3e
Total expenditure
Net income / (expenditure)
Transfers between funds
16
Net movements in funds for the year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
756,473
225,084
0
20,335
73,597
1,075,489
283
436,630
220,497
31,963
414,516
(1,103,889)
(28,400)
50,571
22,171
2,421,533
2,443,704		 Restricted
Funds
£
127,458
14,677
10,052
1,394
27,862
181,443
1,987
18,604
0
75,253
8,293
(104,137)
77,306
(50,571)
26,735
704,328
731,063		 Total
2024
£
883,931
239,761
10,052
21,729
101,459
1,256,932
2,270
455,234
220,497
107,216
422,809
(1,208,026)
48,906
0
48,906
3,125,861
3,174,767		 Total
2023
£
955,257
209,314
8,798
36,309
96,413
1,306,091
2,546
458,570
217,793
92,578
481,227
(1,252,714)
53,377
0
53,377
3,072,484
3,125,861

All income and expenditure derive from continuing activities.

The accompanying notes on pages 29 to 47 are an integral part of these financial statements.

27

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

B A L A N C E S H E E T

Year ended 31 December 2024

Notes
Fixed assets
Tangible fixed assets
11
Current assets
Debtors
12
Cash at bank and in hand
13
Creditors: amounts falling due within one year
14
Net current assets
Net assets
Represented by:
Unrestricted revenue fund - general
16a
Unrestricted revenue fund - designated
16b
Total unrestricted funds
Restricted funds
16c
Total funds		 2024
£
2,619,607
25,474
575,607
601,081
(45,921)
555,160
3,174,767
2,403,778
39,926
2,443,704
731,063
3,174,767		 2023
£
2,592,197
25,504
562,665
588,169
(54,505)
533,664
3,125,861
2,331,332
90,201
2,421,533
704,328
3,125,861

The accompanying notes on pages 30 to 49 are an integral part of these financial statements.

The members of the PCC acknowledge their responsibility for ensuring the church keeps proper accounting records in accordance with the requirements of the Charities Act 2011 as more fully set out in the statement of Trustees’ responsibilities in the Trustees’ Report.

The financial statements on pages 30 to 49 were approved by the Parochial Church Council on 24 March 2025 and were signed on its behalf by:

Frank Hawkins Treasurer

28

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

C A S H F L O W S T A T E M E N T

Year ended 31 December 2024

CASH FLOW STATEMENT
Cash flows from operating activities:
Net cash inflow/(outflow) from operating activities
Cash flows from investing activities
Purchase of fixed assets
Net cash inflow/(outflow) from investing activities
Cash flows from financing activities
Net cash inflow/(outflow) from financing activities
Change in cash and cash equivalents in
the year ended 31 December
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the reporting
period
RECONCILIATION OF NET MOVEMENTS
IN FUNDS TO NET CASH FLOW FROM
OPERATING ACTIVITIES
Net movement in funds for the year (as per the
statement of financial activities)
Adjustments for:
Depreciation charges
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash inflow/(outflow) from operating activities
ANALYSIS OF CASH AND CASH
EQUIVALENTS
Cash in hand
Notice deposits (less than 3 months)
Total cash and cash equivalents		 (37,959) 2024
£
50,901
(37,959)
0
12,942
562,665
575,607
48,906
10,549
30
(8,584)
50,901
159,892
415,715
575,607		 (542,588)
 2023
£
59,860

(542,588)
0
(482,728)
1,045,393
562,665
53,377
10,548
(8,192)
4,127
59,860
95,585
467,080
562,665

29

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

1. ACCOUNTING POLICIES

The financial statements have been prepared on a going concern basis under the historical cost convention, with the exception of freehold properties, which are included at their fair value as determined under the applicable valuation method as detailed in c). The financial statements have been prepared in accordance with the Charities Act 2011 together with the ‘Statement of Recommended Practice’ for Charities (SORP 2015), and the applicable accounting standard (FRS102).

The financial statements include all the transactions, assets and liabilities for which the Parochial Church Council (PCC) is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body or those which are informal gatherings of church members.

The financial statements are presented in sterling, which is the functional currency of the charity, and rounded to the nearest pound sterling. The principal accounting policies and estimation techniques are as follows.

a) Income

All income is included in the Statement of Financial Activities when the PCC is legally entitled to them as income or capital respectively, ultimate receipt is probable and the amount to be recognised can be quantified with reasonable accuracy.

iii) Interest and dividends including bank interest are recognised as income when receivable.

b) Expenditure

Expenditure is included on the accruals basis and has been classified under headings that aggregate all costs related to the relevant category in the Statement of Financial Activities.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

c) Tangible fixed assets and depreciation

Freehold properties

There are two classes of freehold property: land and buildings which are held at cost after impairment and residential properties which are held at deemed cost (see note 11).

Depreciation is not provided on land and buildings or residential properties as any provision (annual or cumulative) would not be material due to the very long expected remaining useful economic life in each case, and because their expected residual value is not materially less than their carrying value. The PCC has a policy of regular structural inspection, repair and maintenance and properties are therefore unlikely to deteriorate or suffer from obsolescence. In addition, disposals of properties occur well before the end of their economic lives and disposal proceeds are usually not less than their carrying value. The PCC perform annual impairment reviews in accordance with the requirements of FRS102 to ensure that the carrying value is not more than the recoverable amount.

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the Financial Statements by Section 10(2)(a) of the Charities Act 2011. No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC consider this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable furnishings, whether maintenance or improvements, is written off as incurred.

Plant and machinery

Individual items of plant and machinery used within the church premises with a purchase price of over £10,000 are capitalised, items with a purchase price of £10,000 or less when the asset is acquired are written off as incurred. Capitalised plant and machinery is depreciated on a straight line basis over 10 years.

Fixtures, fittings and equipment

Individual items of fixtures, fittings and equipment used within the church premises with a purchase price of over £10,000 are capitalised, items with a purchase price of £10,000 or less when the asset is acquired are written off as incurred. Capitalised fixtures, fittings and equipment are depreciated on a straight line basis over 4 years.

31

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

d) Taxation

As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value added tax is not recoverable by the organisation and is therefore included in the relevant costs in the Statement of Financial Activities.

e) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

f) Fund balances

Fund balances are split between unrestricted (general and designated), and restricted funds.

g) Judgements and estimates

In the application of the accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

Significant judgements

Sources of estimation uncertainty

In the view of the Trustees there are no sources of estimation uncertainty affecting assets or liabilities at the balance sheet date that are likely to result in a material adjustment to their carrying amounts in the next financial year.

32

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

2.
INCOME FROM
(a) Donations and legacies
Planned giving
Collections at services
Gift days
Other gifts
Legacies
Income tax recoverable (see * on page 33)
(b) Charitable activities
Site rental
The Atrium
Outreach events
New Wine discipleship year
New Wine activities
Fees
WTC hub
Audio, visual and distributed materials
(c) Other trading activities
Annual sale
Concerts
(d) Investments
Bank interest
(e) Other
Diocese housing credit
Rental income
Sundry income
Total income		 Unrestricted
Fund
£
589,223
41,241
0
8,361
0
117,648
756,473
122,542
52,276
11,776
12,000
2,024
19,438
3,678
1,350
225,084
0
0
0
20,335
20,335
66,000
0
7,597
73,597
1,075,489		 Restricted
Funds
£
0
0
26,720
90,966
0
9,772
127,458
0
0
10,000
4,677
0
0
0
0
14,677
8,800
1,252
10,052
1,394
1,394
0
27,862
0
27,862
181,433		 Total
2024
£
589,223
41,241
26,720
99,327
0
127,420
883,931
122,542
52,276
21,776
16,677
2,024
19,438
3,678
1,350
239,761
8,800
1,252
10,052
21,729
21,729
66,000
27,862
7,597
101,459
1,256,932		 Total
2023
£
526,321
41,988
26,728
30,072
226,574
103,574
955,257
98,575
40,477
28,784
15,077
13,194
8,603
3,479
1,125
209,314
8,798
0
8,798
36,309
36,309
60,000
30,000
6,413
96,413
1,306,091

33

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

2.
INCOME FROM (CONT’D)
* The income tax recoverable under gift aid scheme
relates to the following areas:
Planned giving
Other gifts
Gift days
Collections at services		 Unrestricted
Funds
£
113,260
982
0
3,406






Restricted
Funds
£
0
4,341
5,431
0
9,772		 Total
2024
£
113,260
5,323
5,431
3,406
127,420		 Total
2023
£
92,182
3,876
4,746
2,770
103,574
Total
2023
£
2,546
2,546
132,047
72,897
27,571
3,700
22,265
11,733
81,233
0
66,538
417,984
40,586
458,570
217,793
217,793
117,648
3.
EXPENDITURE ON
(a) Raising funds
Raising other trading activities
(b) Charitable activities
- Parochial ministry
Clergy and operations
Music
Audio, visual and distributed materials
Church maintenance and repairs
Other service costs
Raising generations
Residential properties
Parish weekend
Allocated direct costs (see note 5)
Direct costs
Allocated support costs (see notes 4 and 6)
(c) Charitable activities
- Parish share
Parish share		 Unrestricted
Funds
£
283
283
169,649
82,582
8,233
5,354
13,183
11,380
50,643
2,290
50,644
393,958
42,672
436,630
220,497
220,497		 Restricted
Funds
£
1,987
1,987
5,733
725
0
0
9,107
320
2,295
0
423
18,603
1
18,604
0
0		 Total
2024
£
2,270
2,270
175,382
83,307
8,233
5,354
22,290
11,700
52,938
2,290
51,067
412,561
42,673
455,234
220,497
220,497

34

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

3.
EXPENDITURE ON (CONT’D)
(d) Grants
Giving to institutions
CMS
All Saints’ Highams Park
South Sudan Diocese of Wau
Growing Hope Redbridge
Cutting Edge
Christian Education Project
Iphiko
Personal Wholeness Trust: Counsel for Life
Women on the Frontline
Grassroots
New Wine Trust
New Life Art Ministries
Salvation Army
Nationwide Christian Trust (Living Light)
Church Pastoral Aid Society
Samaritan’s Purse
Evangelical Alliance
Good Shepherd Project
Haven House
Children’s Society
Crisis UK
Mothers’ Union
Holy Trinity South Woodford
Tear Fund
Church at Barking Riverside
Giving to individuals
Ruth Lovell
Chase and Ysanne Olson
Rob Santer
Kathryn Bishop
Andy Moules
Philip Ireson
Raissa de Figueiredo
W M Ajuong
Hania Asif
Josefa Pauli
Joseph and Sarah Harvey
Reuben and Sarah Singleton
Alf Cooper
Jane Savvas / Beth Banks
Other (see * on page 35)
Direct costs
Allocated support costs (see notes 4 and 6)		 Unrestricted
Funds
£
0
10,000
0
6,750
0
0
2,280
0
2,470
2,100
0
0
0
0
0
0
500
0
0
0
0
0
0
0
0
24,100
4,436
0
0
1,970
0
0
0
0
6
0
0
0
0
0
0
6,412
30,512
1,451
31,963		 Restricted
Funds
£
14,100
0
9,858
1,397
7,541
3,200
476
2,700
1,106
0
2,000
1,500
1,052
1,000
800
786
0
500
430
250
173
100
0
0
0
48,969
1,656
4,800
4,800
2,488
1,000
1,000
1,000
500
294
250
250
250
250
250
7,496
26,284
75,253
0
75,253		 Total
2024
£
14,100
10,000
9,858
8,147
7,541
3,200
2,756
2,700
3,576
2,100
2,000
1,500
1,052
1,000
800
786
500
500
430
250
173
100
0
0
0
73,069
6,092
4,800
4,800
4,458
1,000
1,000
1,000
500
300
250
250
250
250
250
7,496
32,696
105,765
1,451
107,216		 Total
2023
£
14,200
0
0
0
0
3,300
4,056
2,900
2,490
3,010
2,200
1,000
2,196
1,300
900
0
500
500
2,710
250
0
100
9,304
4,432
2,519
57,867
9,859
4,800
4,800
3,435
1,000
0
0
0
0
500
250
250
250
100
8,235
33,479
91,346
1,232
92,578

35

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

3.
EXPENDITURE ON (CONT’D)
(e) Charitable activities
- External ministry
The Atrium
Outreach events
Children
Adults
Families
External hire
Baptisms, weddings and funerals
WTC hub
New Wine discipleship year
New Wine activities
Resourcing MMU
Allocated direct costs (see note 5)
Direct costs
Allocated support costs (see notes 4 and 6)
Total expenditure		 Unrestricted
Funds
£
56,150
1,858
2,266
17,188
12,046
8,813
10,974
17,239
12,106
0
230,990
369,630
44,886
414,516
1,103,889		 Restricted
Funds
£
0
0
647
0
0
0
0
3,842
0
0
3,803
8,292
1
8,293
104,137		 Total
2024
£
56,150
1,858
2,913
17,188
12,046
8,813
10,974
21,081
12,106
0
234,793
377,922
44,887
422,809
1,208,026		 Total
2023
£
43,478
1,782
9,215
14,195
14,258
5,217
11,290
24,745
10,089
0
303,900
438,169
43,058
481,227
1,252,714
4.
TOTAL RESOURCES EXPENDED
Raising funds
Charitable activities
Parochial ministry
Parish share
Grants
External ministry		 Direct
Costs
£
2,270
412,561
220,497
105,765
377,922
1,119,015		 Support
Costs
£
0
42,673
0
1,451
44,887

89,011		 Total
2024
£
2,270
455,234
220,497
107,216
422,809
1,208,026		 Total
2023
£
2,546
458,570
217,793
92,578
481,227
1,252,714

36

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

5. DIRECT COSTS ALLOCATION

Raising generations, interns and facilities costs have been allocated on an estimated time
involved. All other costs have been allocated based on an estimate of how much the resource
category. The allocation is:
Raising
funds
Parochial
ministry
Parish
share
Grants
External
Ministry
£
£
£
£
£
Raising generations
0
20,330
0
0
60,990
Site rates, utilities and insurance
0
9,362
0
0
53,053
Cleaning
0
4,515
0
0
40,637
Facilities
0
2,410
0
0
7,229
Site maintenance and repairs
0
5,557
0
0
50,016
Interns
0
8,894
0
0
22,868
0
51,068
0
0
234,793		 basis of the individuals
is used by each
Total
2024
Total
2023
£
£
81,320
113,517
62,415
141,847
45,152
38,779
9,639
12,787
55,573
44,308
31,762
19,200
285,861
370,438

6. SUPPORT COSTS ALLOCATION

Secretarial and governance costs have been allocated on an estimated time basis of the individuals involved. All other costs have been allocated based on an estimate of how much the resource is used by each category. The allocation is:

Secretarial and admin
Office equipment and software
Printing, postage and stationery
Telephone, internet & website
Governance
Financial support
Auditors remuneration
Accounts preparation
Human resources and payroll		 Raising
funds
£
0
0
0
0
0
0
0
0		 Parochial
ministry
£
11,558
14,434
2,162
738
6,416
4,275
2,695
395
42,673		 Parish
share
£
0
0
0
0
0
0
0
0
0		 Grants
£
0
0
0
0
676
450
284
41
1,451		 External
Ministry
£
11,558
14,434
2,162
2,952
6,416
4,275
2,695
395
44,887		 Total
2024
£
23,116
28,868
4,324
3,690
13,508
9,000
5674
831
89,011		 Total
2023
£
28,572
23,882
3,654
4,118
10,200
9,000
5,450
0
0 84,876

37

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

7.
STAFF COSTS AND EMOLUMENTS
Gross wages and salaries
Employer’s National Insurance contributions
Employer’s pension contributions
 2024
£
322,412
25,864
30,143
378,419		 2023
£
296,911
21,617
28,008
346,536

No employee received more than £60,000 during the year (2023: none). The total employee benefits of the key personnel of the charity were £205,260 (2023: £170,540). The incumbent and curates receive a stipend from the Church of England and therefore no amounts are included in the employee benefits figure for these individuals.

The average number of persons employed during the year:
- Clergy, operations and secretarial
- Raising generations
- Music, audio and visual
- The Atrium and site hire
- New Wine discipleship year and WTC hub

The average number of persons employed during the year
based on full-time equivalent:
- Clergy, operations and secretarial
- Raising generations
- Music, audio and visual
- The Atrium and site hire
- New Wine discipleship year and WTC hub
 2024
Number
5.4
3.4
2.0
3.1
1.0
14.9
2024
FTE
4.4
2.3
2.0
1.4
0.4
10.5		 2023
Number
4.9
4.8
1.7
2.9
1.0
15.3
2023
FTE
3.7
3.5
1.7
1.2
0.4
10.5

At 31 December 2024 the actual number of employed staff was 15 (2023: 16).

8.
PENSION COSTS
The church operates a non-contributory workplace pension scheme:
- number of staff to whom benefits accrued
- costs for the year
- contributions outstanding at year end		 2024
Number
15
£
30,143
0		 2023
Number
16
£
28,008
0

38

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

9.
NET INCOME / EXPENDITURE FOR THE YEAR		 2024 2023
£ £
This is stated after charging:
Auditors - Audit fee 9,000 9,000
Depreciation 10,549 10,548

10. RELATED PARTY TRANSACTIONS

Donations in furtherance of church’s objectives

The PCC made the following donations to related parties in furtherance of its objectives:

Related party Donation PCC member
New Wine £2,000 Paul Harcourt Since stepping down as New Wine National
(2023 - £2,200) Leader Paul has been a New Wine Ambassador
Personal £2,700 Josephine Smith James Smith, Josephine’s husband, is an employee
Wholeness Trust (2023 - £2,900) of Personal Wholeness Trust
New Life Art £1,500 Paul Harcourt Becky Harcourt, Paul’s wife, is a trustee of New
Ministries (2023 - £1,000) Life Art Ministries
Growing Hope £8,147 Adrienne Wright, Adrienne, Gillian, and Mary are trustees of
Redbridge (2023 - £0) Gillian Hampton, Growing Hope Redbridge. Kristy Giddy, Marcus’
Mary Nunns, and wife, is a trustee of Growing Hope Redbridge
Marcus Giddy
Church at Barking £0 Gillian Hampton Gillian was a trustee of the Church at Barking
Riverside (2023 - £2,519) Riverside until April 2024

Donations

The Revd. Paul Harcourt was the National Leader of New Wine until 30 April 2023. There was no contract of employment between New Wine Trust and Paul Harcourt. However, between 1 January 2023 and 30 April 2023 New Wine Trust donated All Saints’ Church £10,000. These funds were unrestricted.

Rental income

The Billy Graham Evangelistic Association rented office space from 20 January 2024 to 30 September 2024. For the period they paid £6,295 for rent, £1,280 for photocopying/printing and £490 for redecoration of the office space. Daniel Vickers is an employee of the Billy Graham Evangelistic Association and a member of its management team.

Supply of services

The church employed Colette Wright as Deputy operations manager from 29 August 2023. She is Adrienne Wright’s adult daughter and Daniel Vicker’s wife. She was paid a salary (including employer pension contributions) of £28,710 (2023 - £9,587).

The church employed Joshua Green as WTC hub director. He was paid a salary (including employer pension contributions) of £10,738 (2023: £10,738).

The church employed the services of Anisa Wright as operations assistant and Myriad hub administrator. She was paid £1,876 and £1,201 respectively to 30 April 2023, which was when she ceased being a trustee.

Derek Wright was paid £65 (2023 - £59) for piano tuning. He is Adrienne Wright’s husband and Daniel Vicker’s father-in-law.

39

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

10. RELATED PARTY TRANSACTIONS (CONT’D)

Becky Harcourt was paid £550 (2023 - £900) for preaching. She is Paul Harcourt’s wife.

Trustees remuneration and other benefits

The Trustees received no remuneration for their services, but the following expenses were reimbursed:

Round sum expense allowances
Revd. Paul Harcourt
Revd. Mark Castleton
Revd. Marcus Giddy
Revd. David Baker
 £
3,600
2,400
2,400
1,400
9,800		 £
3,600
2,400
2,400
2,400
10,800

Trustees and related parties made aggregate donations during the year of £66,352 (2023: £61,472).

11.
TANGIBLE FIXED ASSETS
Church land
and building
£
Cost or valuation
At 1 January 2024
4,528,799
Additions
14 Ashdon Close
0
At 31 December 2024
4,528,799
Impairment
At 1 January 2024
(4,528,798)
At 31 December 2024
(4,528,798)
Depreciation
At 1 January 2024
0
Charge for year
All Saints’ auditorium
0
Coffee machine
0
At 31 December 2024
0
Net book value
At 1 January 2024
1
At 31 December 2024
1		 Residential
properties
£
2,562,564
37,959
2,600,523
0
0
0
0
0
0
2,562,564
2,600,523		 Plant and
machinery
£
80,423
0
80,423
0
0
(58,309)
(8,043)
0
(66,352)
22,114
14,071		 Fixtures,
fittings and
equipment
£
157,164
0
157,164
0
0
(149,646)
0
(2,506)
(152,152)
7,518
5,012		 Total
£
7,328,950
37,959
7,366,909
(4,528,798)
(4,528,798)
(207,955)
(8,043)
(2,506)
(218,504)
2,592,197
2,619,607

40

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

11. TANGIBLE FIXED ASSETS (CONT’D)

The Charities SORP 2015 and Church of England guidance to PCC’s (4[th] edition) require all nonconsecrated buildings to be capitalised as fixed assets in the balance sheet. The church land and building cost element in the above table records the construction costs of the All Saint’s site redevelopment and St Andrew’s refurbishment. The Trustees of the charity are of the opinion that the new buildings do not have a carrying value for balance sheet purposes as the buildings are not capable of being sold (due to the PCC not owning the land, there being no access to the buildings save through the church site itself and being physically linked to the consecrated building, and are not being used for the purpose of generating significant profit but rather to contribute to the running and maintenance costs). Therefore, the Trustees are of the opinion that the asset be impaired in the accounts to a nominal value.

The following properties are owned outright by the PCC and were professionally valued on an open market basis by Thomas Cann, external qualified valuer with Lawlors, in November 2013:


basis by Thomas Cann, external qualified valuer with Lawlors, in November 2013:
Residential properties
Walnut Cottage, 3 Inmans Row, Woodford Green
55B Montalt Road, Woodford Green		 2024
£
875,000
475,000
1,350,000		 2023
£
875,000
475,000
1,350,000

Following the adoption of FRS 102 in 2015, we have taken the opportunity to revalue the residential properties at transition date and use this as deemed cost. A revaluation policy is therefore not being applied going forward.

As a result of the Mary Lee legacy, title to 24 Vernon Avenue was transferred to the PCC outright on 5 June 2018 and title is held by the Custodian Trustee. Probate value of £680k at the time of acquisition is used as deemed cost.

On 19 December 2023 the PCC purchased 14 Ashdon Close. The purchase price, including legal fees, search fees and other relate costs, was £532,564, which has been capitalised. Prior to occupation, refurbishment costs of £37,959 were incurred and capitalised, resulting in a deemed cost of £570,523.

Plant and machinery is depreciated on a straight line basis over 10 years. Fixtures, fittings and equipment is depreciated on a straight line basis over 4 years. The 2024 depreciation charges were against the following funds:


funds:
All Saints’ plant and machinery dep’n
All Saints’ fixture fitting & equip’t dep’n		 Total
Designated
Dev+Maint
Dep’n
Restricted
Dev+Maint
Dep’n
All Saints’
General
£
£
£
£
8,043
3,817
4,226
0
2,506
0
0
2,506
10,549
3,817
4,226
2,506

The total depreciation charged to the Development and Maintenance funds in the year was £3,817 for designated and £4,226 for restricted, leaving the funds with a balance of £6,676 for designated and £7,396 for restricted. These Development and Maintenance funds will be reduced to zero by 31 December 2026 as the plant and machinery depreciation and fixtures, fittings and equipment depreciation is charged.

41

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

12.
DEBTORS
Tax reclaim
Trade debtors
Other debtors
Prepayments
Accrued income
 2024
£
12,439
1,700
2,021
2,424
6,890
25,474		 2023
£
9,487
512
3,164
4,460
7,881
25,504
13.
CASH AT BANK AND IN HAND
CBF deposit accounts
HSBC plc current and interest bearing accounts
Scottish Widows plc
Cash in hand
 2024
£
415,193
155,380
522
4,512
575,607		 2023
£
466,565
95,176
515
409
562,665
14.
CREDITORS - DUE WITHIN ONE YEAR
PAYE / NI
Trade creditors
Other creditors
Accruals
Utilities
Audit fee
Accounts preparation fee
Haven House and Salvation Army
Christmas production sound and light
Church at Barking Riverside
Other
Deferred income
Wedding and site deposits
Site hire fees and wedding fees
 2024
£
5,685
17,454
481
4,731
9,000
5,650
0
0
0
2,623
0
297
45,921		 2023
£
5,029
16,704
0
6,006
9,000
5,450
4,906
3,600
0
2,009
1,550
251
54,505
15.
DEFERRED INCOME
Deferred income comprises site hire income and wedding deposits.
Balance as at 1 January 2024
Released to income earned from charitable activities
Deposits repaid
Amount deferred in year
 2024
£
1,801
(251)
(1,550)
297
297		 2023
£
1,881
(931)
(950)
1,801
1,801

42

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

16.
FUNDS - MOVEMENTS
IN YEAR
(a) General
General
Residential Properties
Furniture and Equipment
All Saints’ Operating Activities
St Andrew’s Operating Activities
(b) Designated
Property Maintenance
Growing Hope Redbridge
Connect Project Depreciation
MMU
Ministry
Organ
(c) Restricted
Mary Lee Legacy (Property)
Mary Lee Legacy (Other)
Parish Nurse
St Andrew’s Legacy
NW Discipleship Students - CDBF
Connect Project Depreciation
Organ Refurbishment
Myriad
Dementia Friendly Church
Parish Hardship
Haven House
Raising Generations
Interns Mission Trip
Cutting Edge
Anniversary Fund
Worship
Vintage Lunch and Tea
Annual Sale
Salvation Army
Organ Maintenance
St Andrew’s Ruth Lovell Water
St Andrew’s Iphiko
St Andrew’s Kate Bishop
Choir
Gift Day
South Sudan
St Andrew’s Ruth Lovell
St Andrew’s WOFM
Raissa de Figueiredo
Growing Hope Redbridge
Samaritan’s Purse (Ukraine)		 Balance at
1.1.24
1,931,024
7,518
346,407
46,383
2,331,332
49,089
7,500
10,493
11,571
11,323
225
90,201
631,541
0
0
33,283
8,801
11,622
903
5,304
0
8,550
0
2,683
324
0
0
0
0
633
0
0
75
356
188
65
0
0
0
0
0
0
0		 Income
0
0
999,980
74,114
1,074,094
0
0
0
0
1,395
0
1,395
0
27,862
40,000
403
368
0
6,851
10,241
5,000
3,415
3,076
716
6,287
8,221
1,838
1,900
2,000
8,799
1,838
0
0
120
2,300
0
32,151
11,358
1,657
1,106
1,000
897
786		 Expenses
0
(2,506)
(1,016,511)
(52,685)
(1,071,702)
0
(6,750)
(3,817)
(10,000)
(11,620)
0
(32,187)
0
(2,295)
(5,432)
0
0
(4,226)
(1,108)
(9,044)
0
(7,496)
(19)
(410)
(3,842)
(7,540)
0
0
(647)
(8,287)
(1,054)
0
0
(476)
(2,488)
(65)
(31,651)
(11,358)
(1,657)
(1,106)
(1,000)
(897)
(786)		 Transfers
65,476
0
4,578
0
70,054
(24,089)
7,500
0
(1,571)
(1,098)
(225)
(19,483)
(27,517)
(25,567)
0
0
0
0
0
0
0
0
0
0
0
2,038
500
0
0
0
0
475
0
0
0
0
(500)
0
0
0
0
0
0		 Balance at
31.12.24
1,996,500
5,012
334,454
67,812
2,403,778
25,000
8,250
6,676
0
0
0
39,926
604,024
0
34,568
33,686
9,169
7,396
6,646
6,501
5,000
4,469
3,057
2,989
2,769
2,719
2,338
1,900
1,353
1,145
784
475
75
0
0
0
0
0
0
0
0
0
0

43

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

16.
FUNDS - MOVEMENTS
IN YEAR (CONT’D)
(c)
Restricted
Kids Action Group
Ephesians
Hania Asif
Bert May		 Balance at
1.1.24
0
0
0
0
704,328
3,125,861		 Income
595
301
294
63
181,443
1,256,932		 Expenses
(595)
(301)
(294)
(63)
(104,137)
(1,208,026)		 Transfers
0
0
0
0
(50,571)
0		 Balance at
31.12.24
0
0
0
0
731,063
3,174,767

The general fund represents the unrestricted funds that are available for the PCC to spend in line with their aims and objectives. The table above subdivides the general fund of £2.404m, showing that at 31 December 2024 £1,997m was held in residential properties, £5k was held in furniture and equipment and the balance of £402k is in operating activities (All Saints’ - £334k, St Andrew’s - £68k).

The transfers shown above are explained in more detail in the table below.
TRANSFERS
Gift Day
and Organ
Transfers
Ashdon
Refurbish’t
Transfer
Mary Lee
Expenses
Transfer
£
£
£
(a) General
General
Residential Properties
0
37,959
27,517
All Saints’ Operating Activities
(9,788)
0
25,567
(9,788)
37,959
53,084
(b) Designated
Property Maintenance
0
(37,959)
0
Growing Hope Redbridge
7,500
0
0
MMU
0
0
0
Ministry
0
0
0
Organ
(225)
0
0
7,275
(37,959)
0
(c) Restricted
Mary Lee Legacy (Property)
0
0
(27,517)
Cutting Edge
2,038
0
0
Anniversary
500
0
0
Organ Maintenance
475
0
0
Gift Day
(500)
0
0
Mary Lee Legacy (Other)
0
0
(25,567)
2,513
0
(53,084)
0
0
0		 Operating
Activities
Transfer
£
0
(11,201)
(11,201)
13,870
0
(1,571)
(1,098)
0
11,201
0
0
0
0
0
0
0
0		 Total
Transfers
£
65,476
4,578
70,054
(24,089)
7,500
(1,571)
(1,098)
(225)
(19,483)
(27,517)
2,038
500
475
(500)
(25,567)
(50,571)
0

44

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

16. FUNDS - MOVEMENTS IN YEAR (CONT’D)

Designated Funds

Property Maintenance

For refurbishment and maintenance of church site and residential properties. It is forecast that £500k might be needed over the next five years and a further £750k in the subsequent five years.

Growing Hope Redbridge

This fund is for setting up a Growing Hope clinic in Redbridge to provide free therapy for children and young people with additional needs and support for their families. It is anticipated that this fund will be spent in 2025.

Connect Project Depreciation

The fund was given as part of Connect Project and will be used over the next two years as the plant & machinery and fixtures, fittings & equipment are depreciated. See note 11.

MMU

In October 2022 the draft 2023 parish share issued by the diocese was reviewed by the PCC, it showed significant increases for many parishes, which may not be affordable. In light of this the PCC decided to set aside £20,875 to support MMU parishes in 2023 should any require a financial gift. £9,304 was gifted during 2023 and £10,000 during 2024, leaving £1,571 which was transferred back to operating activities.

Ministry

This fund is used to support ministry training for leadership and staff of the church. The majority of the fund was used in 2024, with the £1,098 balance being transferred back to operating activities.

Organ

This fund is for organ maintenance. It is expected that the fund will be spent in 2025.

Restricted Funds

Mary Lee Legacy (Property and Other)

The fund is for the upkeep and fabric of All Saints’ church. During the year the fund received £28k rental income, paid £2k of property costs and transferred £53k to the general funds to cover upkeep and fabric costs of All Saints’ church. £26k of this transfer was cash and £27k was a share of Vernon Avenue property.

Parish Nurse

The fund is for parish nursing provision. It is expected that the fund will be used in the next three years.

St Andrew’s Legacy

This fund represents various legacies received which are restricted for the use of St Andrew’s. It is expected that the fund will be used over the next five years.

NW Discipleship Students - CDBF

The fund represents the balance of a grant from the Diocese in 2018 to fund interns from parishes within the Diocese on the New Wine Discipleship programme at All Saints. It is anticipated that the fund will be used over the next three years.

Connect Project Depreciation

The fund was given as part of Connect Project and will be used over the next two years as the plant & machinery and fixtures, fittings & equipment are depreciated. See note 11.

Organ Refurbishment

The fund is for organ refurbishment. It is expected that the fund will be spent over the next two years.

45

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

16. FUNDS - MOVEMENTS IN YEAR (CONT’D)

Myriad

The fund is to support our Myriad church planting hub, a resource to equip lay church planters in Essex, East London and beyond in growing small teams to develop new church communities. It is expected that the fund will be used in 2024.

Dementia Friendly Church

The fund is to enable the church to become more dementia friendly. It is expected that the fund will be used in the next two years.

Parish Hardship

Established during 2020, this fund is to assist those in need from both the church family and the local community. It is to provide small non-repayable grants to individuals and families who finds themselves in need and with no other means of support. It is intended for the purchase of everyday health and hygiene needs such as food, toiletries, prescribed medicines, utilities and as a way of sustaining people until they can access appropriate levels of assistance. It is expected that the fund will be used over the next two years.

Haven House

This fund is to support Haven House. The £3k balance was paid to Haven House in the first quarter of 2025.

Raising Generations (previously known as Worship and Youth)

The fund is for youth activities and instruments for the youth to use in worship. It is expected that the fund will be spent over the next two years.

Interns Mission Trip

The fund is to support the interns mission trips. It is expected to be spent in 2025.

Cutting Edge

This fund is for Cutting Edge. It is anticipated that the balance will be paid over to them during 2025, once they have opened a bank account.

Anniversary Fund

The fund is for building and site maintenance, including remedial works on the church roof, electrics, lighting and other arears. It is expected that the fund will be added to and used over the next ten years. It is forecast that £500k might be needed over the next five years and a further £750k in the subsequent five years.

Worship

The fund is for any church worship activities. It is expected to be spent in 2025.

Vintage Lunch and Tea

This fund is for vintage lunch and vintage tea activities. It is expected that the fund will be used over the next two years.

Annual Sale

This fund is the money raised at the Annual Sale in November each year. It is anticipated that the Mission Committee will allocate these funds to individuals or organisations as evangelistic opportunities arise over the next year.

Salvation Army

This fund is to support the community care fund which is to support local people in need homeless people in the borough. The £780 balance was paid to Salvation Army in the first quarter of 2025.

Organ Maintenance

The fund is for organ maintenance. It is expected that the fund will be spent in 2025.

46

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

16. FUNDS - MOVEMENTS IN YEAR (CONT’D)

St Andrew’s Ruth Lovell Water

This fund was raised to support Ruth Lovell in purchasing water filters. The balance is expected to be gifted during 2025.

St Andrew’s Iphiko

The fund was raised to support Iphiko. The fund was distributed during the year.

St Andrew’s Kate Bishop

This fund was raised to support Kate Bishop. The fund was distributed during the year.

Choir

The fund is for the choir. It was spent during the year.

Gift Day

This fund was raised to extend the Kingdom through supporting mission partners. It was distributed during the year.

South Sudan

This fund was raised to cover three needs relating to South Sudan. £9,858 for the Diocese of Wau, South Sudan, to enable them to construct guesthouses as a source of income and to help accommodate visitors for conferences and training. £1,000 to an Anglican minister in Kiryandongo refugee camp in Northern Uganda where many South Sudanese have fled. To enable sewing machines to be bought to start a small business in Kampala which will provide skills and income for families in the camp. £500 for Abuna William Majok. The fund was distributed during the year.

St Andrew’s Ruth Lovell

This fund was raised to support Ruth Lovell. The fund was gifted during the year.

St Andrew’s WOFM

This fund was raised to support Sophia Burley through WOFM. The fund was gifted during the year.

Raissa Luz de Figueiredo

This fund honoured a gift given by a member of the congregation for Raissa, it was distributed during the year.

Growing Hope Redbridge

This fund is for the Growing Hope clinic in Redbridge to provide free therapy for children and young people with additional needs and support for their families. It was distributed during the year.

Samaritan’s Purse (Ukraine)

This fund is for Ukraine, it was distributed during the year.

Kids Action Group

This fund was raised by the Kids Action Group for Crisis UK and Haven House. The fund was distributed during the year.

Ephesians

This fund holds amounts gifted to All Saints’ via the Ephesians fund. These funds can only be used to support churches/ministries endorsing the Ephesian Fund Basis of Faith. These gifts may not be used towards payment of parish share unless we are assured (e.g. because the church/PCC is paying its parish share via the Ephesian Fund) that the funds will be credited back to an endorsing church. The fund was spent in the year.

Hania Asif

This fund honoured a gift given by a member of the congregation for Hania, it was gifted during the year.

47

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

16. FUNDS - MOVEMENTS IN YEAR (CONT’D)

Bert May

This fund honoured a gift given by a member of the congregation for Bert, it was gifted during the year.

17.
ANALYSIS OF NET ASSETS BY FUND
Fixed assets
Debtors, accrued income and prepayments
Cash at bank and in hand
Creditors due within one year
Net assets		 Unrestricted
Funds
£
2,008,187
23,261
454,182
(41,926)
2,443,704		 Restricted
Funds
£
611,420
2,213
121,425
(3,995)
731,063		 Total
2024
£
2,619,607
25,474
575,607
(45,921)
3,174,767		 Total
2023
£
2,592,197
25,504
562,665
(54,505)
3,125,861

48

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ALL SAINTS WOODFORD WELLS

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 31 December 2024

18.
PRIOR YEAR COMPARATIVE STATEMENT
FINNANCIAL ACTIVITIES
Income from
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
Total income
Expenditure on
Raising funds
Charitable activities
Parochial ministry
Parish share
Grants
External ministry
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movements in funds for the year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
893,781
198,925
0
34,924
66,413
1,194,043
1,048
445,312
217,793
24,710
476,148
(1,165,011)
29,032
94,274
123,306
2,298,227
2,421,533		 Restricted
Funds
£
61,476
10,389
8,798
1,385
30,000
112,048
1,498
13,258
0
67,868
5,079
(87,703)
24,345
(94,274)
(69,929)
774,257
704,328		 Total
2023
£
955,257
209,314
8,798
36,309
96,413
1,306,091
2,546
458,570
217,793
92,578
481,227
(1,252,714)
53,377
0
53,377
3,072,484
3,125,861

49