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2023-12-31-accounts

PARISH OF HAZLEMERE ANNUAL REPORT & FINANCIAL STATEMENTS

OF THE HOLY TRINITY PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED

31 DECEMBER 2023

ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

CONTENTS

SECTION 1: TRUSTEE’S ANNUAL REPORT

Page
Report from the Vicar for 2023 3
Safeguarding Update 7
Financial Review 8
Our Church – A Summary 10
Objectives and Activities 10
Foundational Values 10
Our Purpose 10
Statement of Public Benefit 11
Structure,Governance and Management 12
Statement of Trustees’ Responsibilities 13
Risk Management 14
Reference and Administrative Information 15

SECTION 2: FINANCIAL STATEMENTS

Page
Statement of Financial Activities 19
Statement of Financial Position 20
Cashflow Statement 21
Notes to the Financial Statements 22
AccountingPolicies 22
Income 25
Expenditure 26
Fixed Assets 29
Debtors 29
Creditors 30
Staff Costs 30
Related PartyTransactions 31
Analysis of Funds 32
Previous Year’s Statement of Financial Activities 35

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

SECTION 1

Report from the Vicar for 2023

“From him the whole body, joined and held together by every supporting ligament, grows and builds itself up in love, as each part does its work”. Eph 4:16

A SEASON TO SOW

As we look back over the last year of the life, mission and ministry of Hazlemere Church there is a sense of momentum as we are seeing an encouraging growth in community engagement, commitment and a desire to serve.

At the beginning of the year there was a concern that our finances were not keeping in pace with the growth of the church and would potentially hinder future ministry opportunities. As a response we launched an emphasis on stewardship and generosity called, ‘A Season to Sow’.

Here is a little of what I wrote:

“God is moving, and we are having to play catch up with what He is doing. Nearly four hundred people come through the cafe each week; new ministries have emerged; we have experimented with different expressions of church and more and more people are finding a place of belonging.

The changing environment has meant that we have had to lean into what the Holy Spirit is doing among us, looking out for those new shoots and nurturing them, trying new things and seeing what new life God is bringing. Looking around the church and seeing what God is doing among us, it is as if the blessings of God are overtaking us, and we can't quite keep up! The speed of growth and mission and ministry that God is bringing is outpacing our resources - and this presents us with a new and exciting challenge.

This means that for us as a church we need to sow: to sow into what God is doing now and to sow into what He could do in the future. In order to catch up, we all need to play our part; to bring our tithes and offerings to God; to establish obedient, faithful generosity as a central characteristic of our worship and the way we live our lives. This is a season to sow.”

The response from this season was significant and our financial position dramatically improved (as seen in the Statement of Financial Accounts). This has given us confidence as we look to the future. As well as our improved financial position the following have been some key highlights:

MINISTRY:

Our congregations over the last year have continued to welcome new people (with over 50 new people stepping into the life of the church). We have seen new leaders emerge and our volunteer team grow. Currently we have over 150 people involved in serving regularly in whole variety of ways.

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

We have continued to see growth in our youth ministry this year, with the relaunch of Excite (for School years 5-7) and an increase in the number of young people inviting their friends along to our Wednesday night Roots programme. We have also seen an increase in our volunteer base which has been very encouraging.

As we invest in building relationships with our young people, we’ve loved seeing some of them using their skills to serve on a Wednesday night either on tech or in the music team and one of our older young people has joined us for a year as an intern. Several of the young people who will be leaving full-time education in the next couple of years are considering internships with us going forward. This is an area we will continue to invest in.

Running Youth Alpha was a particular highlight this year, as was welcoming a local Christian footballer to share his story with the young people.

Looking ahead, we are excited to be working with Wycombe Youth for Christ on a new weekly after-school drop-in for ages 11-18. We have, in early 2024, received a grant from the Wycombe Deanery to help support this work and some of that money will go towards training three staff in youth mental health first aid.

We have seen significant growth in our Wednesday congregation, Prime Time. This serves seniors within our community, and the work we do in and through the Atrium Cafe has contributed to this growth. Those who have joined this congregation recently have spoken about the warm welcome, the sense of community and friendships that have formed.

We began our monthly 'Lighthouse Sunday' ministry as a response to the growing number of young families joining our church. It begins with breakfast and moves into a fun, lively and interactive (and short!) service, with input from different members of our congregation - from children, through youth to adults! We have looked at Bible stories such as The Prodigal Son and The Precious Pearl, always thinking creatively about how to engage people of all ages and stages of faith (including those not yet Christians). Our hope is to grow this as an 'outreach ministry' - inviting families from Hazlemere Church of England School, with whom we already have strong ties, to come and try a different kind of church service that uses singing, dancing, multimedia, drama, and other ways to communicate the gospel.

MISSION:

One of our key values as Hazlemere Church is pursuing how we can be a blessing to the wider community and around the world. We continue to support many international and local mission organisations (see Note 3 in the Financial Accounts for the full list), this includes financial support, sending teams to deliver practical work, and encouraging individuals to find ways they can get involved. Last year we gave around £60k to support wider mission.

To serve those who are experiencing a season of loss we ran The Bereavement Journey. This is a course designed by the charity Loss and Hope, offering support for anyone who has been bereaved, at any time, and this is our second year of running the course. We meet for refreshments, watch video input, which is at once factual, practical, and sensitive, and then spend time in small groups discussing the content and our experience of bereavement. The course has been greatly appreciated by those navigating grief around the death of a loved one, and several continue to attend our church,

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

although this is not the primary reason for running it. We hope to continue running the course once a year.

In addition, we ran an Alpha course. This offers a safe place for people explore some of life’s bigger questions, build friendships and see how the Christian faith is relevant to our life experiences today.

As Hazlemere Church, both Christmas and Easter are opportunities for us to engage with our local community. This year we ran multiple events for all ages, worked with community groups and local schools, to present the hope of the Christmas story and the joy of Easter.

We continued our engagement with local Schools, running assemblies, occasional lessons, and services. Over the year we were involved with 8 schools.

STAFF TEAM:

Over this year we have seen changes to our staff team. Our Associate Vicar, Dom Meering took up a new post, as incumbent within Salisbury Diocese. We were delighted that Claire Gerard (who had been serving as our curate) was appointed as our new Associate Vicar, with a long-standing member of our congregation, and recently ordained, Chris Sacre, taking over as curate. This enabled continuity in vision and leadership. Helen Carmody retired after over 15 years of being on team, and she remains an active member of our church community.

We welcomed 4 interns to the team (including the older youth member previously mentioned). Two of whom are theological graduates from Germany. The process was relatively complicated, but now Hazlemere PCC is a licensed sponsor organisation under the charity worker immigration route. This opens up the possibility to receive future international interns.

ATRIUM CAFE:

The goal of the Trinity Centre including the Atrium Cafe was to be a hub for the local community where people could find a place of welcome, safety and belonging. This year we have continued to see this happening week by week. It has been a joy seeing God move in the Atrium Cafe this year. We have welcomed so many of our local community who have now become regulars and we are building on relationships as we have weekly contact with them. We have a spectrum of ages, mums and babies or toddlers (or both), seniors, workers with laptops and friends meeting up.

The Atrium team of volunteers work incredibly hard serving our customers and always have a smile on their faces. We have had quite a few days where we have run out of tables and had to be creative in finding extra space to host everyone.

The groups using the cafe have been growing. The Atrium supports our established user groups namely Great & Small, Stroke Club & Prime Time. These are the groups using the building regularly - Parkinson's group, Multiple Sclerosis Society, a social prescribing group and various local walking groups. What is exciting is that these groups are now crossing into church activities. With the cafe screens showing our weekly activities and volunteers able to talk to people about the groups and even show them around, it's an easy, comfortable and non-threatening entry into church life.

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

We still have new customers visiting us every day. They may have driven past and seen our lights in the darkness or know of a friend who has come or even attended the church as a child and are curious to re-visit. Every day is different, and our aim is that every person feels welcome when they come through our doors.

FUTURE PLANS FOR HAZLEMERE CHURCH:

Over the last 4 years as a church, we have successfully completed a significant building project, navigated the pandemic, launched and relaunched our ministries. The last year has been a time of continued consolation and building strong foundations (financial security, staff team and a culture of serving). This gives us confidence as we look to our future.

Our key priorities for the future will be as follows:

1. Youth and Family outreach.

When we look at the Church of England as a whole there has been a decline in the number of children and youth within local churches. Currently we have 150 under 18’s within Hazlemere Church, so we are in a relatively strong position. Building on the initial success of Lighthouse Sunday, and the Lighthouse children's summer club based at Holy Trinity, our desire is to increase our level of youth and family outreach. This will include greater engagement with schools through lunchtime clubs and after-school drop-ins based in the Atrium Café; mental health training of staff and volunteers; family specific groups; Alpha Courses and explore other opportunities as they arise. Our hope is that these new outreach initiatives will be part-funded by successful grant applications.

In a smaller capacity, we have and will continue to support family outreach that is happening in another neighbouring parish.

2. Widmer End Mission

Currently our church based in Widmer End - Church of the Good Shepherd - has become our smallest numerical congregation. Over many years, we have developed strong relationships with the local community through the primary school and community groups. Over the next year, we will look at how we can shape the expression of the church, based in Widmer End to better serve the local community in which it is embedded. This may include refurbishment of the site, and additional creative leadership.

3. Wider Church Involvement

Over the past year, we have been involved in supporting other neighbouring churches. There is a possibility that this support may be more formalised and become a collaboration with the Diocese.

It is with a sense of excitement and faith that we look to the future. As God continues to build his church here, in and through us, and as we seek to be a blessing to others.

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SAFEGUARDING UPDATE

At Hazlemere Church we are committed to:

What we have done in 2023 to promote a safer church:

Training:

We have successfully increased the number of volunteers and staff undertaking safeguarding training and, along with safeguarding becoming a standing item on the agenda of every PCC meeting, we are seeing a general improvement in culture within the church. There is an increased awareness of risk and the need for everyone in the church to be vigilant in keeping children and vulnerable adults safe from harm.

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FINANCIAL REVIEW

As our church continued to step out of the pandemic and building project, we, as a PCC, were unsure about the income and cost profile of our general funds. Our budget for 2023 was a deficit position, as we knew that certain costs, especially utilities, had increased, but were unsure whether our income profile would similarly increase, especially during a cost-of-living crisis. We were fortunate to be able to set a deficit budget, confident in light of the cash reserves we held, but we also recognised that it wasn’t a profile that we could continue on a longer-term trajectory. Hence the clergy initiated the “Season to Sow” teaching series. We have always aimed to be open and transparent with our congregation – recognising that there have been periods when we have stored our surpluses to subsequently use at other times.

We were grateful when God, and our obedient congregation, responded. Our regular giving increased by c. 15% and our Gift Day exceeded £80k, significantly higher than our original expectations and our 2022 Gift Day total of £52k. Together with cost control throughout the year, we were delighted to end the year with surplus income, compared to our budgeted deficit. This gives us a great foundation from which to plan future initiatives and growth – knowing that we have sufficient funds to support future growth.

In this financial year, we exceeded the threshold for Large Charities, and, forseeing that this might be the case, have been working throughout the year to ensure we meet the additional requirements for Large Charities. Consequently we have embedded stronger controls on related party transactions and possible conflicts of interest; we have also reviewed and increased our required level of reserves.

Our income was boosted by £50k Insurance monies. This related to storm damage impacting the roof and structure of Church House, Widmer End. The subsequent building work has been capitalised.

Our end of year cash position is strong at £367k. This figure includes both the final Trinity Centre retention payment of £44k and our Reserves allocation of £80k, leaving £243k. We are mindful not to hold excessive monies, and also to be careful stewards of the resources entrusted to us. There are a number of potential fabric items that we are currently reviewing including the possible rebuilding of a structural wall and roof work, both at Church of the Good Shepherd. The cash balance has also allowed us to confidently invest in the mission and ministry of the church.

The Atrium Café made a surplus of £5k in the year. Café costs include all direct costs and paid café staff but excludes any allocation of utility and building costs. The café continues to be run as a not-for-profit venture – we hope for the Café to cover its costs, but there is no specific financial objective for it to make a profit.

Other relevant financial notes include an external grant of £1.5k from the Benefact Trust, towards urgent Bell structural repairs which cost over £30k (recorded as General Fund expenditure\Fabric & Facilities). During the year, we also refitted our Brooks Lounge kitchen. This cost £26k and we are grateful to the Laing Trust who gave an unrestricted gift of £20k in Nov 21, which we used for this purpose.

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As Treasurer, I am, as always, indebted to my colleagues on the Finance Sub-Committee who provide perspective, challenge and support to all financial decisions. During the year, one of our FSC members, Jasper Barnes, sadly passed away after a short battle with cancer. We miss his constructive and insightful contributions.

We continue to be grateful to God for continuing to resource the church in our mission and ministry activities, and thankful for all those who support us in that work.

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OUR CHURCH - A SUMMARY

OUR OBJECTIVES AND ACTIVITIES

The primary objective of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. In accordance with the PCC (Powers) Measure 1956, the PCC is to co-operate with the minister in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

As a church we have adopted a Mission Statement of “Being the People of God, fulfilling the Purposes of God”. This is seen as a dual emphasis between building up and encouraging the Christian community and being effective in our role as the Christian witness in this local community and beyond.

OUR FOUNDATIONAL VALUES

We have a series of key foundational values which determine how we act and relate to one another. These values underlie what we hope to see as a local church.

OUR PURPOSE

As part of the Church of England, the PCC’s aims are to support the spread of the Christian religion. Primarily the PCC aims to support the Christian religion in the Parish of Hazlemere but also as a net financial contributor to the Anglican Church, to support the purpose of the spread of the Christian religion across the world to all. We are a mission-based church and believe that Jesus Christ is the Saviour of the world and that everyone would benefit from belief in Him and receipt of the Holy Spirit. In acting out our beliefs, we work as one church, usually meeting as multiple congregations in different places around Hazlemere and Widmer End on Sundays and some weekdays, and as smaller LIFEgroups during the week.

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STATEMENT OF PUBLIC BENEFIT

The following is stated to meet the requirement to provide a statement on our public benefit.

The PCC confirms that we have referred to the Charity Commission's guidance on public benefit, in particular the specific guidance on charities for the advancement of religion, when reviewing the PCC’s aims and objectives and in planning future activities. The PCC also confirms that the trustees (i.e. the PCC members) have had due regard to the Charity Commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.

The PCC provides benefit to the public in the following ways:

The provision of sacred spaces, churches and worship services:

The provision of public rituals and ceremonies:

Contributing to the spiritual and moral education of children:

Carrying out, as a practical expression of religious beliefs, other activities (such as advancing education or conflict resolution, or relieving poverty), which may also be charitable:

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STRUCTURE, GOVERNANCE AND MANAGEMENT

The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure 1956 as amended. The PCC is registered with the Charity Commission: Charity Number 1128994.

The appointment of members of the PCC is set out in the Church representation rules. The PCC members are appointed annually by vote at the Annual Parochial Church Meeting (APCM).

The PCC has ultimate responsibility for a wide range of matters affecting the parish, including such matters as compliance with health and safety, discrimination legislation and child protection. Therefore, the PCC appoints representatives who are responsible for the compliance to such legislation, maintaining knowledge regarding the ever-changing nature and degree of application of such legislation, advising the PCC regarding its duties in these areas and for training parishioners as required. New PCC members are given an overview of their responsibilities and accountabilities when appointed.

The PCC meets on a planned basis several times a year to discuss and ratify key decisions such as the setting of the Annual Financial Plan and adoption of the Annual Accounts. Between these meetings it operates through the following committees/teams:

• The Standing Committee is a sub-group of the PCC that meets both physically and virtually to discuss and agree matters in detail before proposals are placed before the PCC. It also has delegated powers to approve certain decisions between PCC meetings. The Standing Committee comprises the Incumbent, Clergy, Churchwardens, Treasurer and Secretary.

• The Finance Subcommittee meets as required either physically and/or virtually to review financial management of the PCC’s funds. It comprises the Vicar, a Churchwarden, Treasurer, Finance Manager and other persons co-opted as required by the PCC for their knowledge of financial matters. This subcommittee prepares and presents the Annual Financial Plan for approval by the Standing Committee and full PCC and then monitors actual performance against the Plan throughout the year, as well as agreeing financial policy.

• The Mission Subcommittee meets through the year to consider prayerfully the PCC’s support for Home and Missionary work. It meets both together and with the missionaries to consider their work and requirements for prayer and financial support. It recommends appropriate persons and levels of support to the PCC. The subcommittee members comprise members of the PCC and church members with a heart to ensure the Parish adequately supports missionary work.

REMUNERATION

The PCC delegates the oversight of remuneration of its staff to the Standing Committee who themselves take recommendations from the Finance Sub-Committee. External information relating to Living Wage, inflation and Diocesan pay increases are taken into consideration when determining pay-rates.

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The members of the PCC are responsible for ensuring that the Trustees’ Annual Report and the financial statements are prepared in accordance with applicable law and the UK GAAP Financial Reporting Standards (FRS) for the United Kingdom and Republic of Ireland. The PCC seeks the advice from the Independent Reviewers that it meets these obligations.

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts Reports) Regulations 2008 and any trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

RISK MANAGEMENT

The PCC maintains a Risk Register as part of its Risk Management Plan. This identifies the key risks to spiritual life, financial health, meeting statutory and legal requirements, our operations and our reputation. Owners have been allocated for each risk and mitigation actions defined which have brought the risks within the PCC’s risk tolerance. The Risk Management Plan is reviewed triennially (last undertaken in 2021). Key elements of the plan consider the following areas:

Income

As with many charitable organisations, the majority of the PCC’s income is the result of voluntary giving and in the PCC’s case, the vast majority of this comes from the generous, sacrificial and committed giving of the membership of Holy Trinity Church, Hazlemere. The PCC recognises that church membership fluctuates year-by-year and that any period of change can heighten the risk of this fluctuation. The PCC, supported by detailed reviews by the FSC, continues to monitor the trends of giving, and managing our expenditure levels accordingly.

Operations

Essential and routine maintenance and repair work across our church estate is overseen by our Facilities Manager. Records of our assets are maintained and checked regularly by the local Deanery.

The Facilities Manager is also the Health and Safety (H&S) representative. H&S information is obtained directly from HSE monthly updates and Lawpack publication “Health & Safety at Work Essentials” and applied to our situation as required. The major H&S risks identified by the PCC have been reviewed and systems or procedures have been established to mitigate these risks. All Food Hygiene and First Aid at Work requirements are up-to-date.

Safeguarding

Given the wide ranging and innovative programme of ministry with children and young people and vulnerable adults provided at Holy Trinity, Hazlemere, the health, safety and protection of these individuals is regarded as being of paramount importance. We operate a formal policy for the safeguarding of children and vulnerable adults, in line with Diocesan guidelines. Continual review of Safeguarding policies, procedures and practice is ongoing and overseen by the PCC’s Safeguarding representatives who regularly report to the PCC.

Reserves Policy

As part of our contingency planning and risk management the PCC operates a reserves policy whereby we seek to ensure that our unrestricted general fund reserve does not fall below an appropriate level for the ongoing ministry. The PCC recently voted to increase the minimum value of reserves from £40,000 to £80,000. This represents about 3 months cover of ongoing costs (excluding Mission Gifts) and assuming no income for that period. The Reserves level will be measured by free cash available within Unrestricted and Designated funds (i.e. excluding the Fixed Asset fund). The level of Reserves as at December 2023 was £388,159. About a third of this balance is being ringfenced for potential building works, whilst professional advice is sought.

Investment Policy

Investments are restricted to bank deposits or money market fund purchases. The maximum investment in any one reputable bank or building society is to be £200k. The maturity date is to be no more than 2 years from the investment date; when assessing the timing of any investment, due notice is to be given to any major project being considered.

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REFERENCE AND ADMINISTRATIVE INFORMATION

The Church Office is based at:

Holy Trinity Church 262 Amersham Road Hazlemere High Wycombe Bucks HP15 7PZ

Tel: 01494 523191

The church is a registered charity under statute, registration number 1128994

There are 3 main bankers:

Barclays Bank PLC PO Box 41 High Wycombe Bucks HP11 2PG

HSBC PLC 1 Corn Market High Wycombe HP11 2AY

Lloyds Bank PLC 25 Gresham Street London EC2V 7HN

Independent Examiner:

Nigel Wyatt BSC FCA Independent Examiner 125 Main Street Garforth Leeds LS25 1AF

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

The PCC comprises the following current members (as at 31[st] Dec 2023):

Chair:

Rev Mark Meardon (Ex-officio, Vicar)

Members:

Jill Castle (appointed Apr 23) Mike Cross Brian Eckheart Rev Claire Gerard (Ex-officio, Associate Vicar) Anna Greathead Peter Green Trish Harding (Treasurer) James Hazelton (Churchwarden) Richard Jones Jane Montgomery (Secretary) Mark Moorcraft (Deanery Synod Rep) Suzannah Reeves Mark Olsen Jackie Pestell Rev Chris Sacre (Ex-officio, Curate) Roger Simmons Sacha Tomkins (Deanery Synod Rep; appointed Apr 23) Robert Waldron Steve Walters (Churchwarden from Apr 23) Rev Steve Whitmore Charlotte Wood (appointed Apr 23)

The following ceased PCC membership during the year: Elizabeth Reuter (finished Mar 23) Rev Dominic Meering (Ex-officio; finished Jul 23) Charlotte Morris (Churchwarden; finished Apr 23)

Day-to-day management is delegated to the Incumbent/Vicar, Rev Mark Meardon, who also served as Chair of the Parochial Church Council throughout the reporting period.

Signed on behalf of the PCC on

15th April 2024.

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INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF THE TRUSTEES OF THE PCC OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY HAZLEMERE

I report on the financial statements for the year ended 31 December 2023.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

INDEPENDENT EXAMINER’S STATEMENT

I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Nigel Wyatt BSC FCA Independent Examiner 125 Main Street Garforth Leeds LS25 1AF

Date: 16/04/2024

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SECTION 2

PARISH OF HAZLEMERE

FINANCIAL STATEMENTS OF THE

HOLY TRINITY

PAROCHIAL CHURCH COUNCIL

For Year Ended 31[st] December 2023

Charity Registration no. 1128994

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PAROCHIAL CHURCH COUNCIL OF HAZLEMERE STATEMENT OF FINANCIAL ACTIVITIES

For Year Ended 31[st] December 2023

2023 2022
Unrestricted Restricted Total Total
Funds Funds Note 10
Note £ £ £ £
INCOME
Donations 2(a) 479,078 9,330 488,408 433,006
Income from Charitable 2(b) 1,050 1,050 -
Activities
Income from 2(c) 7,997 - 7,997 863
Investments
Income from Trading 2(d) 62,734 - 62,734 52,661
Activities
Other Income 2(e) 62.530 - 62,530 11,478
TOTAL INCOME 613,389 9,330 622,719 498,008
EXPENDITURE
Expenditure on 3(a) 470,594 6,247 476,841 419,209
Charitable Activities
Other Activities 3(b) 80,268 5,323 85,591 77,915
Governance Costs 3(c) 2,220 - 2,220 2,070
TOTAL EXPENDITURE 553,082 11,570 564,652 499,194
NET 60,307 (2,240) 58,067 (1,186)
INCOME/(EXPENDITURE)
BEFORE TRANSFERS
Transfers between funds 9 (2,240) 2,240 - -
Net movement in funds 58,067 - 58,067 (1,186)
after transfers
TOTAL FUNDS BROUGHT 406,030 - 406,030 407,216
FORWARD
TOTAL FUNDS CARRIED 464,097 - 464,097 406,030
FORWARD

The notes numbered 1 to 12 form part of these financial statements.

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PAROCHIAL CHURCH COUNCIL OF HAZLEMERE STATEMENT OF FINANCIAL POSITION

As At 31[st] December 2023

2023 2022
Note £ £ £ £
FIXED ASSETS
Tangible fixed assets 4 149,017 109,234
CURRENT ASSETS
Cash at bank and in hand 83,051 84,223
Deposits < 3 months’ notice 193,999 153,016
Deposits > 3 months’ notice 89,675 87,682
Total Cash and Deposits 366,725 324,921
Debtors 5 8,259 17,715
374,984 342,636
CREDITORS due within 1 year 6 (59,904) (45,840)
NET CURRENT ASSETS 315,080 296,796
NET ASSETS 464,097 406,030
FUNDS
Restricted 10 - -
Unrestricted – Designated 75,937 101,758
Unrestricted – General Fund 388,160 304,272
TOTAL FUNDS 464,097 406,030

Approved by the PCC on …………………………………………………………15th April 2024 and signed on their behalf by:

Rev Mark Meardon Chairman

Trish Harding Treasurer

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PAROCHIAL CHURCH COUNCIL OF HAZLEMERE CASH FLOW STATEMENT

For Year Ended 31[st] December 2023

2023 2023 2022 2022
£ £
Cash Flow from Operating
Activities
Net cash from operating 58,067 (1,186)
activities
Adjustments for:
Depreciation charges 25,822 21,711
Decrease/(Increase) in 9,456 (3,731)
Debtors
Increase/(Decrease) in 14,064 (3,544)
Creditors
Less: Interest received
Net cash from operating		 (7,997) 99,412 (863) 12,389
activities
Cash Flow from Investing
Activities
Purchase of assets (65,605) (7,476)
Interest received
Net cash from investing		 7,997 (57,608) 863 (6,613)
activities
Cash Flow for reporting period 41,804 5,776
ended 31st Dec
Cash Balance at beginning of 324,921 319,145
reporting period
Cash Balance at end of reporting 366,725 324,921
period
Classified on the balance sheet as:
Cash at bank and in hand 83,051 84,223
Deposits < 3 months’ notice 193,999 153,016
Deposits > 3 months’ notice 89,675 87,682
Total Cash and Deposit Balances 366,725 324,921

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

PAROCHIAL CHURCH COUNCIL OF HAZLEMERE

NOTES TO THE FINANCIAL STATEMENTS

For Year Ended 31[st] December 2023

1. ACCOUNTING POLICIES

a) Charitable Status

The Parochial Church Council of the Holy Trinity Hazlemere is a registered charity in England and Wales, number 1128994. The Trustees are the members of the PCC names on page 14. The registered office is Holy Trinity Church, 262 Amersham Road, High Wycombe, Buckinghamshire HP15 7PZ.

b) Basis of preparation of financial statements

The financial statements are prepared under the historical cost convention in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019) – (Charities SORP (FRS 102)) and the Charities Act 2011.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The primary objective of the charity is to promote the gospel of our Lord Jesus Christ according to the doctrine and practice of the Church of England. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about the charity’s ability to continue as a going concern.

The accounts include transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of church groups that owe an affiliation to another body, nor those that are informal gatherings of church members.

c) Fund Accounting

General Fund represents the “free” funds of the PCC that are not subject to any restriction regarding their use and are available for application on the general purposes of the PCC.

Designated Funds are earmarked by the PCC for particular purposes, but are nevertheless still unrestricted, as the PCC can re-designate the funds if it wishes. The PCC currently has one designated fund:

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

Restricted Funds are funds collected or donated for a particular purpose and cannot be used by the PCC for any other purpose except by agreement with the donor. The PCC has five restricted funds:

d) Income

Donations - Collections and planned giving are include in the SOFA when the funds are received. Income tax recoverable on gift aid donations is recognised when claimable. Any grants or legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due.

Grants – Grants from external organisations are accounted for when received, or when awarded, if the conditions of the award have been fully met.

Investments – Income earned on deposits with the banks and Central Board of Finance is accounted for when received.

Other Income –Rental income is recognised when due; donations for use of the premises are recognised when received. Parochial fees for weddings, funerals etc are accounted for when due.

e) Expenditure

Expenditure is accounted for when payable. Grants to external organisations are accounted for when paid, or when awarded, if that award creates a binding obligation on the PCC

f) Fixed Assets

i) Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the financial statements by S10(2)(a) and (c) of the Charities Act 2011. All costs related to the Trinity Centre will follow this treatment (as the centre will be an integral extension to the existing church) and be expensed in the year in which they are incurred.

No value is attributed to moveable church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. They are listed in the church’s inventory that can be inspected at any reasonable time. For inalienable property acquired prior to 2000 there is insufficient cost information available and

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

therefore such assets are not valued in the financial statements. Items acquired since January 2000 have been capitalised and depreciated in the financial statements over their anticipated useful life on a straight-line basis.

All expenditure incurred in the year on consecrated or beneficed buildings, on individual items under £2,000, or on repair of movable church furnishings acquired before January 2000, is expensed when incurred.

ii) Tangible fixed assets for use by the charity

These are capitalised if they can be used for more than one year, and cost at least £2,000. Depreciation is calculated to write off the capitalised cost of fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:

Land Nil

Buildings

50 years (except the Prayer Studio which is depreciated over 10 years, given its anticipated shorter economic life)

Fixtures, Fittings and Equipment7 years

g) Current Assets

Amounts owing to the PCC at the year-end in respect of tax reclaims and other income are shown as debts less any provision for amounts which may prove to be uncollectable. Short-term deposits include cash held on deposit either with the Church of England Deposit Fund or at a bank.

h) Pension Policy

The PCC participates and auto enrols its employed staff into the Legal and General Stakeholder Pension scheme, a defined contribution scheme. Contributions are accounted for on an accruals basis.

i) Charitable Commitments

The PCC has supported many local charities and overseas mission partners for many years. The PCC reviews all commitments to other charitable bodies and missionaries it supports on a year-by-year basis. It does not commit to long-term support although it may, however, provide long term support for its mission partners.

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

PAROCHIAL CHURCH COUNCIL OF HAZLEMERE NOTES TO THE FINANCIAL STATEMENTS

For Year Ended 31[st] December 2023

2. INCOME

. INCOME
Total Funds
Unrestricted Restricted 2023 2022
Funds Funds
£ £ £ £
2a Donations
Gift Aided Donations 336,226 - 336,226 314,491
Gift Aid 84,535 - 84,535 76,497
Other Planned Giving 51,469 - 51,469 31,120
Other Gifts & Cash Offerings 6,848 7,830 14,678 10,898
Grants - 1,500 1,500 -
TOTAL INCOME 479,078 9,330 488,408 433,006
2b Charitable Activities
Rental Income 1,050 - 1,050 -
2c Income from Investments
Interest from Investments 7,997 - 7,997 863
2d Income from Trading
Activities
Parochial Fees 3,907 - 3,907 2,811
Café Income 58,827 - 58,827 49,850
TOTAL TRADING INCOME 62,734 - 62,734 52,661
2e Other Income
Building Usage, Toddlers etc 12,112 - 12,112 11,478
Insurance Monies 50,418 - 50,418 -
TOTAL OTHER INCOME 62,530 - 62,530 11,478
TOTAL INCOME 613,389 9,330 622,719 498,008

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

3. EXPENDITURE

Total Funds Funds
Unrestricted Restricted 2023 2022
Funds Funds
£ £ £ £
a) Expenditure on Charitable
Activities
Mission Support:
Overseas Mission Partners 51,765 - 51,765 50,247
(see below)
Overseas Mission Projects:
- Amani 2,000 2,343 4,343 2,606
- Global Recordings 350 - 350 350
- Steet Kids Direct 1,500 - 1,500 375
- Keep a Girl in School 100 - 100 -
Sub-Total: Overseas Mission 3,950 2,343 6,293 3,331
Projects
Home Mission:
- Seniors Events/Keep-Fit 1,071 - 1,071 366
- Lighthouse - - - 1,000
- Wycombe Homeless Connection 1,500 1,352 2,852 2,106
- WYFC 400 - 400 400
- Schools Ministry - - - 129
- HM Prison Service 500 - 500 -
- Rennie Grove Peace Hospice - 1,352 1,352 606
Care
- Love Fund - 1,200 1,200 1,207
- Love Wycombe - - - 400
- Welcome Churches 1,500 - 1,500 1,500
Sub-Total: Home Mission 4,971 3,904 8,875 7,714

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

Ministry Costs: Ministry Costs:
- Staff Pay 124,347 - 124,347 125,526
- Parish Share 138,344 - 138,344 136,723
- Staff Expenses 9,575 - 9,575 7,633
- Children, Youth & Family 4,305 - 4,305 3,342
- Events 9,173 - 9,173 10,713
- Music & Worship 4,762 - 4,762 3,524
- Printing & Publicity 1,028 - 1,028 699
- Diocesan Costs 3,383 - 3,383 2,422
Sub-Total: Ministry Costs 294,917 - 294,917 290,582
Church Management
- Office Management & Admin 12,030 - 12,030 12,473
- Fabric & Maintenance 70,642 - 70,642 25,826
- Utility Costs & Insurance 32,319 - 32,319 29,036
Sub-Total: Church Management 114,991 - 114,991 67,335
Charitable Activities Total 470,594 6,247 476,841 419,209

Overseas Mission Partners supported were: J&K Hughes (Wycliffe Bible translation in Indonesia), I&L Hollman (Wycliffe Bible translation in Africa), K&D Mercado (Outreach in Krygyzstan), R Gracey (Wycliffe), P&S Hopkins (Outreach), K&J McKee (Global Recordings Network in E Europe).

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

Total Funds Total Funds
Unrestricted Restricted 2023 2022
Funds Funds
£ £ £ £
b) Other Activities
Depreciation 25,822 - 25,822 21,711
Café Costs 54,446 - 54,446 42,884
Staff Leaving: personal gifts - 1,783 1,783 -
Costs relating to the construction - 3,540 3,540 13,320
of the Trinity Centre
Total Other Activities 80,268 5,323 85,591 77,915
c)
Support
Independent Examination Fee 2,220 - 2,220 2,070
Total Expenditure 553,082 11,570 564,652 499,194

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

4. FIXED ASSETS

. FIXED ASSETS
Freehold Land Equipment Total
& Buildings
Cost
Balance as at 1st Jan 2023 79,675 130,983 210,658
Additions - 65,605 65,605
Balance as at 31 Dec 2023 79,675 196,588 276,263
Depreciation
Balance as at 1st Jan 2023 60,434 40,990 101,424
Charge for the year 3,523 22,299 25,822
Balance as at 31 Dec 2023 63,957 63,289 127,246
Net Book Value
As at 31st Dec 2023 15,718 133,299 149,017
As at 31st Dec 2022 19,241 89,993 109,234

Insurance values of the relevant buildings and contents:

Holy Trinity building £9,980,000 Church of the Good Shepherd £3,330,000 Church House (building only) £312,468

The freehold land and buildings controlled, but not necessarily owned by, the PCC compromise:

Holy Trinity Church & Prayer Studio The Church of the Good Shepherd, Widmer End Church House, Widmer End

(The Oxford Diocese owns all but the Prayer Studio, although they are all maintained by the PCC)

5. DEBTORS

EBTORS
2023 2022
£ £
Gift Aid claim 6,029 4,829
Prepayments - 1,995
Other debtors 2,230 10,891
8,259 17,715

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

6. CREDITORS due within one year

2023 2022
£ £
Independent Examination fee 2,220 2,040
Retention for Trinity Centre 43,800 43,800
Other creditors 13,884 -
59,904 45,840

Note: The retention payment relating to Trinity Centre (payable to Edgar Taylor) was expected to be paid in 2023 but was invoiced and paid in early 2024.

7. STAFF COSTS

TAFF COSTS
2023 2022
£ £
Salaries and wages 147,326 144,866
Employers’ NIC 2,479 1,859
Pension contributions 4,230 3,982
Employment costs 153,945 150,707
Staff expenses and other costs 9,575 7,633
163,520 158,340

No employee earned £60,000 or more.

Staff numbers – year end head count

2023 2022
Ministry 3 6
Support 6 4
Café 3 3
Total 12 13

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

Key Management Personnel

The key management personnel of Holy Trinity Church are the Vicar, Associate Vicar and Curate. The Vicar and Associate Vicar are employed and paid by the Diocese, and a proportion of the parish share payment relates to their ministry and housing costs. The Curate is paid by the PCC.

8. RELATED PARTY TRANSACTIONS

5 PCC members are staff members employed by the PCC (2022: 5) and received remuneration totalling £73,718 (2022: £57,850). The 5 staff members who also sit on the PCC are:

Chris Sacre, Curate Jane Montgomery, Operations Manager Jackie Pestell, Café Manager Peter Green, Facilities Manager Suzannah Reeves, Temporary Finance Manager

13 PCC members and related parties (2022: 10), were reimbursed for expenses incurred during the year totalling £29,098 (2022: £19,602).

The following trustees or staff members were directors or members of related entities or were connected to people or organisations in receipt of payments from Holy Trinity, Hazlemere:

Trustee Related Entities Related Party Transactions
Steve Whitmore, PCC Member Trustee for Wycombe Youth
for Christ		 Holy Trinity Church, Hazlemere
paid a grant of £400 to
Wycombe Youth for Christ
Suzanne Reeves, PCC Member Trustee for Lighthouse,
Hazlemere		 Holy Trinity Church gave
Lighthouse the use of our
facilities free for a week to run
a holidayclub
Dave Reeves Landscaping
Ltd		 Suzanne is the wife of Dave.
Dave’s company received
remuneration of £2,753 for
gardening services to the
church in 2023.
Ali Hazelton, wife of James
Hazelton, PCC Member and
Warden		 Trustee for Lighthouse,
Hazlemere		 Holy Trinity Church gave
Lighthouse the use of our
facilities free for a week to run
a holidayclub

PCC members are reminded to declare any conflicts of interest during PCC discussions and abstain from voting.

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

9. ANALYSIS OF FUNDS: Current Year

Movement Of Funds During The Year (2023) /£

Opening Income Expenditure Transfers Closing
Balance Balance
UNRESTRICTED
FUNDS
General Funds 304,272 613,389 (527,262) (2,240) 388,159
Designated Funds:
Fixed Assets 101,758 - (25,820) - 75,938
Total Unrestricted 406,030 613,389 (553,082) (2,240) 464,097
Funds
RESTRICTED FUNDS
Buildings Fund - - (3,540) 3,540 -
External Grants - 1,500 - (1,500) -
Special Offerings - 5,047 (5,047) - -
Love Fund - 1,000 (1,200) 200 -
Personal Gifts - 1,783 (1,783) - -
Total Restricted - 9,330 (11,570) 2,240 -
Funds
TOTAL 406,030 622,719 (564,652) - 464,097

Please see Note 1c) for a description of the funds.

Transfers between funds totalled £2,240. Some final costs relating to the Trinity Centre construction are being paid out of the Buildings Fund, so a transfer of £3,540 was made from the General Funds to clear that fund to zero. Love Fund gifts of £1,200 were made; donations specifically for this fund were £1,000 so a top-up of £200 was made from General Funds to reduce that balance to zero. Finally, a restricted grant of £1,500 was received from the Benefact Trust as a contribution to our Bell repairs. The Bell work totalling £33,004 was recorded against facility costs in the General Funds, so a transfer of £1,500 to General funds has been actioned to clear the External Grants fund to zero.

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

10. ANALYSIS OF FUNDS: Prior Year

Movement Of Funds During The Year (2022) /£

Opening Income Expenditure Transfers Closing
Balance Balance
UNRESTRICTED
FUNDS
General Funds 283,747 495,424 (460,443) (14,456) 304,272
Designated Funds:
Fixed Assets 123,469 - (21,711) - 101,758
Total Unrestricted 407,216 495,424 (482,154) (14,456) 406,030
Funds
RESTRICTED FUNDS
Buildings Fund - - (13,320) 13,320 -
Special Offerings - 1,372 (1,817) 445 -
Love Fund - 450 (703) 253 -
Personal Gifts - 762 (1,200) 438 -
Total Restricted - 2,584 (17,040) 14,456 -
Funds
TOTAL 407,216 498,008 (499,194) - 406,030

In 2022 transfers between funds totalled £14,456, of which £13,320 was made from General Funds to the Buildings Fund to offset some remaining costs of the Trinity Centre work. Three other transfers were made from General Funds: 1) to offset a deficit balance in Special Offerings caused by an inadvertent overcalculation of Gift Aid relating to Special Offerings from 2021; 2) to Personal Gifts representing the church’s contribution to a Christian minister from India studying in America (in addition to personal gifts given by church members); 3) a transfer to the Love Fund representing an additional church contribution in addition to specific gifts given to the Love Fund.

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

11. ANALYSIS OF NET ASSETS BY FUND

Unrestricted Restricted 2023 Total 2022 Total
£ £ £ £
Fixed Assets 149,017 - 149,017 109,234
Cash and Deposits 316,732 49,993 366,725 324,923
Debtors 6,856 1,403 8,259 17,714
Creditors due within 1 year (8,508) (51,396) (59,904) (45,840)
Net Assets 464,097 - 464,097 406,031

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ANNUAL REPORT AND FINANCIAL STATEMENTS 2023

12. PREVIOUS YEAR’S STATEMENT OF FINANCIAL ACTIVITIES

STATEMENT OF FINANCIAL ACTIVITIES

For Year Ended 31[st] December 2022

2022 2021
Unrestricted Restricted Total Total
Funds Funds
£ £ £ £
INCOME
Donations 430,422 2,584 433,006 685,195
Income from 863 - 863 18,805
Investments
Income from Trading 52,661 - 52,661 16,276
Activities
Other Income 11,478 - 11,478 22,539
TOTAL INCOME 495,424 2,584 498,008 742,815
EXPENDITURE
Expenditure on 415,489 3,720 419,209 392,460
Charitable Activities
Other Activities 64,595 13,320 77,915 1,020,034
Governance Costs 2,070 - 2,070 2,367
TOTAL EXPENDITURE 482,154 17,040 499,194 1,414,861
NET 13,270 (14,456) (1,186) (672,046)
INCOME/(EXPENDITURE)
BEFORE TRANSFERS
Transfers between funds (14,456) 14,456 - -
Net movement in funds (1,186) - (1,186) (672,046)
after transfers
TOTAL FUNDS BROUGHT 407,216 - 407,216 1,079,262
FORWARD
TOTAL FUNDS CARRIED 406,030 - 406,030 407,216
FORWARD

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