**PCC of St Thomas Church Oakwood Registered Charity No. 1129369** **Trustees’ Annual Report and Accounts for the year ended 31[st] December 2021** |**A. Reports**||| |---|---|---| ||**1. Trustees’ Annual Report**|1| ||**2. Financial Risk Assessment**|9| ||**3. Independent Examiner’s Report**|11| |**B. Accounts**||| ||**4. Accounting Framework**|1| ||**5. Statement of Financial Activities**|2| ||**6. Balance Sheet**|2| ||**7. Notes to the Accounts**|| ||(i)
Balance Sheet detailed|4| ||(ii)
Analysis of income and expenditure|5| ||(iii)
Fund movement|7| ||(iv)
The Purposes of Designated and Restricted Funds|8| ||(v)
Accounting Policies|9| ||(vi)
Investment Guidelines|11| ||(vii) Other Disclosures|12| ## **Incumbent** ## **Bank** The Reverend Richard Alldritt 2 Sheringham Avenue, Southgate N14 4UE HSBC plc 31 Holborn Circus, London EC1N 2HR **Treasurer** Mr Chris Goodlad 17 Oakwood Park Road, Southgate N14 6QB **Independent Examiner** Roger Seaton 23 Greenhill Park, Barnet, Herts, EN5 1HQ **A REPORT ON THE NEW ELECTORAL ROLL PAROCHIAL CHURCH COUNCIL (‘PCC’) OF ST THOMAS OAKWOOD** The updated Electoral Roll was approved by the PCC on 8 April 2022 The Electoral Roll consists of 154 persons, 63 resident in the parish, 91 non-resident. Christina Mateides Electoral Roll Officer - A1 - **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2021 PAROCHIAL CHURCH COUNCIL (‘PCC’) OF ST THOMAS OAKWOOD** ## **Aims & Purposes** The PCC has the responsibility of co-operating with the incumbent, the Revd Richard Alldritt in promoting the gospel of the Lord Jesus Christ according to the doctrine and practices of the Church of England. The PCC has considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. ## **Objectives & Activities** As part of the Diocese of London, we share a vision of a church for London that is Christ-centred and outward looking - seeking to be more confident in speaking and living the Gospel of Jesus Christ, more compassionate in serving our community with the love of God and more creative in reaching new people and places with his help. The Apostle Paul tells us that Jesus is the Head of the church (Ephesians 4:15; 5:23; Colossians 1:18; 2:19); he is our Head at St Thomas. In practice this means that those whom he calls to be under-shepherds of his flock must, first and foremost, be teachers of _his_ Word so that we may hear him speak to us, nourishing, correcting, training, rebuking and directing us. It also means that we must seek him in prayer, committing all the concerns of the work to him, knowing that he is in charge and wants us to flourish in godly usefulness. ## **Achievements & Performance** The first part of the year was, of course, overshadowed by the ongoing coronavirus crisis, and the third national lockdown between January and March. We moved to a twin morning service arrangement in order to accommodate all those who wished to attend in person in a socialdistanced way. Midweek church groups and activities either met on Zoom, or were cancelled entirely (inc. the Easter Holiday Club for a second year). It was only when we got to the end of the summer that church life began to resume to some form of normality - with one morning service, home groups meeting in person again, and the resuming of regular outreach groups. There was a real fear of ‘losing’ many people on the transition back to church - and certainly we have lost some - but the autumn saw many people return, as well as the arrival of a considerable number of newcomers such that our overall numbers are not too dissimilar to where we were before the pandemic. In addition we launched a regular Tuesday lunchtime service which was proved popular, not just with the elderly, but also with those at home during the week. We are thankful for the Lord keeping his people through the challenges of the last two years. Despite the constant change and flux associated with the pandemic, the clear explanation of the Bible continued to be central to all of our meetings. Over 2021 we followed the account of the life of Jacob from the book of Genesis - God’s grace is strong, and the promises never let go despite Abraham’s family being the messiest and most dysfunctional family ever; we lifted the curtain on ultimate reality from the book of Revelation, explored the big questions of meaning and existence from the book of Ecclesiastes, followed Luke’s account of the early church in the early chapters of Acts, and enjoyed topical teaching on identity, anger and anxiety. In addition, we continued our programme of Dig Deeper seminars exploring the subjects of spiritual abuse and same-sex attraction. We spent a day together as a whole church family at the beginning of the summer, and then as a PCC at the start of the autumn reflecting on the lessons of lockdown, considering the kind of - A2 - church we want to rebuild as restrictions begin to ease. A number of key initiates came out of those meetings including the idea of making more of Sundays with more regular bring and share lunches, the launching of a regular parish outreach ministry, and the monthly ‘chatty’ evening service. Henrik Sonessson joined the team from Oak Hill as our children and youth worker; Tia Reavley (our ministry apprentice) left the staff team to take up a position as teaching assistant in a local school, but continues to be a valued part of the church family. ## **Financial Review** Total funds: Total cash funds fell by about £36k during 2021 to £138k. Income fell by about £10k, with a further fall in one-off gifts partially offset by legacies and a recovery in hall income as COVID restrictions eased. Expenditure increased by over £30k, almost entirely as a result of various repairs and refurbishments. General Fund: Despite the continued economic uncertainty caused by the COVID pandemic, regular giving held well throughout 2021. Although the General Fund made additional contributions of about £40k to building work (above and beyond the normal transfers into the building funds), the excess of regular giving over regular expenditure kept the deficit to just over £20k. Staff funds: Regular monthly expenditure exceeds the regular monthly income that is restricted to these funds, with total balances falling by £5k and £17k being drawn from the St Thomas Church Fund. The General Fund could be used to pay staff if necessary. Building funds: The major items of expenditure were £47k converting the stage area into a new meeting room, £20k on new windows in the hall and £11k refurbishing Gerrards Close. Contributions of £40k and £30k were made by the General Fund and Legacies’ Fund respectively. ## **Reserves Policy** The treasurer, together with the PCC, continually monitor the levels of funds available to ensure that ministry is adequately resourced, in particular staffing levels and the maintenance of buildings. The necessary level of funds varies from year to year. The General Fund is currently running at a historically high level, offering protection against a potential fall in regular income, in particular due to increases in the cost of living. Further information on reserves can be found in the notes to the accounts (Section B7.5 – Accounting Policies). ## **Plans for Future Periods** There are a number of specific items for prayer in 2022: - We are currently working towards a number of mission events around Easter as part of the nationwide ‘A Passion for Life’ initiative: an invitation guest event with Andrew Sach (‘are you 100% sure you want to be an agnostic?’), an Easter Holiday Club (‘Champions’) and a Good Friday open air service in Oakwood Park - with the aim of running a Hope Explored course in the spring term. - We have a church weekend planned for July, which promises to be a terrific opportunity to spend some extended time together as a church family. We long that as many as possible - A3 - might come to the weekend, and pray that God might use it to build a greater sense of gospel partnership and church family. - We are looking forward to welcoming Hannah Smith to the team in September as our ‘Female Pastoral Worker.’ She arrives from a church apprenticeship in Oxford. - We are continuing to explore the possibility of being involved in a church revitalisation in Ponders End in partnership with other local churches. Conversations are ongoing with the diocese, various financiers, as well as partner churches, all with the aim of launching a new work there in September 2023. - The next 12 months promise to be very significant for the Church of England. The Living in Love and Faith resources (LLF) were first published in late 2020 with an encouragement to parishes, deaneries and dioceses to engage with the resources and feedback responses. This period of engagement is due to come to an end in April 2022, after which the bishops will begin a series of ‘focussed conversations’ in order to discern a way forward. We are then promised “a clear sense of direction … by November 2022.” If the experience of other provinces is anything to go by we need to prepare for the possibility a way forward that would be unwelcome to faithful Anglicans. - Finally, and of course most importantly, we pray that the LORD might grow us as a church family both in maturity and in number as we hold out the word of life to Oakwood. ## **Structure, Governance & Management** The Parochial Church Council is a corporate body established by the Church of England, operating under the Parochial Church Council Powers Measure, and registered with the Charity Commission. The method of appointment of PCC members is set out in the Church Representation Rules. The membership of the PCC consists of the Incumbent, the Churchwardens, Ex Officio members due to membership of Deanery & Diocesan Synods and members elected by those persons whose names are on the electoral roll of the church. The PCC held 6 meetings during the year together. Over the course of 2021 we promised to give £85,200 to the Diocesan Common Fund for 2021, and maintained a missionary support figure whereby we give at least 10% of the previous year’s stewardship, plus reclaimed tax, to the missionary organisations adopted by the PCC. In addition, the PCC operates through a number of committees which meet between full meetings of the PCC and report back to it. The standing committee - consisting of Vicar, Churchwardens, PCC Vice-Chairman, PCC Secretary and Treasurer - did not meet during 2021. The Finance and General Purposes Committee met 4 times during the year in order to consider matters in relation to the finance and fabric of the church, including maintaining of our health & safety policy, agreeing staff pay rates, and setting rates for Hall hire, and other fees at the discretion of the PCC. ## **Administrative information** St Thomas is situated in Oakwood, North London. The correspondence address is the Parish Administrator, Parish Office, St Thomas Church, Oakwood, London, N14 4SN. Registered Charity No. 1129369. During the year, the following served as members of the PCC:- - A4 - **Ex-officio members: Incumbent:** Richard Alldritt (Chairman) **Churchwardens:** Andrew Lewis & Pippa Reid **Deanery Synod:** Charles Maycock, Andy Reid, Mohan Yogendran **Diocesan Synod:** Roger Dean[2] **Elected members[1]** Hannah Giles Chris Goodlad (Treasurer) Jenny Hammond (Secretary) Liz Maggs Harriet Mitchell Ifedi Nwokoye Stella Roberts Richard Stones **Notes:** 1 Based on our current electoral roll figures, the maximum number of elected representatives is 12. 2 until July Independent examiner: Roger Seaton Adopted by the PCC on 11 April 2022, and signed by the Chairman: Richard Alldritt Vicar, St Thomas Oakwood - A5 - ANNUAL REPORT FOR YEAR ENDED 31ST DECEMBER 2021 CHURCH FABRIC, GOODS & ORNAMENTS Church Fabric Lockdown offered a unique opportunity to undertake a number of significant projects: The replacement of new doors and windows in the large hall. The removal of the stage area and the fitting of a new meeting rts)m. The redecoration and fitting of a new kitchen and flooring at 7 Gerrards Close. In addition, a number of smaller projects and regular items have been completed including: The fire extinguishers were inspected and serviced. The lightning conductor was inspected and tested. The organ was tuned and maintained [N. B. Sadly the visit by the organ tuner unearthed o number of sisnificant faults and issues with the orgon, requiring sisnificont expenditure (in the region of £20-40k). Given the size of the amount, the PCC mode the decision to explore alternative options.] The annual gas and fire setvices took place. Insurance The church and its contents continue to be adequately insured with 'Congregational and General, which provides cover for property damage, employer liability, public liability, product liability and personal accident. We wish to record our grateful thanks to those who continue to make sure that the church grounds and premises are safe and well maintained. Particular thanks goes to John Baxter for his ongoing expertise and tireless contribution in this area of the life of our church, as well as Stella Roberts who was central to many of the projects undertaken. Signed by the church wardens: ILL(4 Andrew Lewis Pippa Reid ## **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2021 DEANERY SYNOD REPORT** The Deanery Synod normally meets three times during the year; meetings are open to all members of the Anglican churches in Enfield. ## **April 2021** In February the Deanery met on Zoom with +Rob speaking about the diocesan vision 2030. ## **July 2021** In July the Deanery met at St Peter & Paul Enfield Lock with guest speaker Bex Chapman, helping us think about what it means to be an effective deanery. ## **Nov 2021** In November the Deanery met at St John’s Palmers Green to follow up the discussions from the July meeting. - A7 - ## **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2021** ## **SAFEGUARDING REPORT** Over the course of 2021 the PCC re-affirmed our Child Protection Policy, with Peachey David as our Safeguarding Officer and Harriet Mitchell as our Children’s Champion. A safeguarding audit of all church activities has taken place. Where deficiencies have been identified appropriate action is being taken. A full questionnaire has been completed for the diocese regarding this area of ministry. - A8 - ||Trustees
Treasurer
Administrator|Treasurer|Treasurer|Treasurer|Treasurer|Treasurer
Bookkeeper|Churchwardens
Sidesmen
Service leaders|Treasurer|Trustees|Treasurer
Trustees| |---|---|---|---|---|---|---|---|---|---|---| |**Persons**
**responsible**||||||||||| |||||||||||| |**Comments**||||Trust that new
donors replace old.||||||| |**Controls in place**|Treasurer monitors
quarterly gift aid
claim;
Office receives
confirmation email
from Charity
Commission|PCC resolution.
Balance sheet
distributed with FCA
licence numbers.|Regularly check
available deposit
rates.|Difficult in practice.|Difficult in practice.|Excel spreadsheet,
Finance Co-ordinator
and bank statements
reconciled monthly.|Collections handled
by two non-related
people.|Insurance in place|Reserves in place for
building repairs.|Finance always on
the agenda.
Staff hired only if
funding in place.| |**Controls**|Ensure all Charity Commission and
HMRC requirements are met.|Invest only in FSCS protected accounts
up to the FSCS limit.|Keep under review and switch funds if
necessary.|Encourage major donors to give early
warning of any income reduction.|Awareness of any dissatisfaction
which might lead to this event. Speak
to those involved.|All transactions double booked, once
by the treasurer, and once,
independently, by the bookkeeper.
Daily limit on internet payments.|Always put money in church safe.
Encourage direct payment or cheque
offerings .|Arrange suitable insurance|Reasonable contingency provisions .|Regular reporting to the PCC.
Reserves for future liabilities, eg. staff
salaries and weekend away.| ||4|5|6|12|6|8|4|6|9|8| |**Risk**
**rating**||||||||||| |||||||||||| ||4:1|5:1|2:3|3:4|3:2|4:2|2:2|3:2|3:3|4:2| |**Significance:**
**Probability**||||||||||| |||||||||||| |**Event**|Loss of charity status with
subsequent loss of gift aid and
tax refunds|Loss of capital through
inappropriate investing|Reduction in investment
interest|Loss of major donors within the
congregation|Individuals withdrawing
financial support but remaining
within the church|Fraud or theft of funds|Theft of Sunday collection cash|Other theft|Unanticipated significant
increase in expenditure|Unanticipated significant
decrease in income| ||1|2|3|4|5|6|7|8|9|10| - A9 - ||Trustees
Treasurer|Bookkeeper|Trustees|Bookkeeper
Treasurer|Administrator
Church staff
Treasurer| |---|---|---|---|---|---| |**Persons**
**responsible**|||||| ||||||| |**Comments**|||No formal process.||| |**Controls in place**|Decisions made by
PCC|Use Finance Co-
ordinator||Church wardens and
bookkeeper given
access to key files.
Job list distributed to
F&GP.|Licenses and
insurance in place.| |**Controls**|Appoint suitable persons as
Bookkeeper, Treasurer & Independent
Examiner / Auditor
Report regularly to PCC on financial
position.|Use standard package from
professional provider.|General economic awareness .|Wider access to key files; maintain job
list.|Maintain licences and liability
insurance.| ||3|2|9|6|4| |**Risk**
**rating**|||||| ||||||| ||3:1|2:1|3:3|2:3|4:1| |**Significance:**
**Probability**|||||| ||||||| |**Event**|Inaccurate accounting|Poor accounting systems|Failure to respond to economic
changes and priorities|Bookkeeper or Treasurer unable
to continue in role|Imposition of financial penalties
(copyright infringement;
personal injury claims)| ||11|12|13|14|15| - A10 - ¥i¥OEPEIIDENT EXAMINER'S REPO1￿ TO THE IAEMBERS OF ST THOPAAS OAThCKK PAROCHIAL CHURCH COUNCIL December 21r21. vknich are set out in sect￿ B. Responsibillllos and basis of rewt requi￿r￿entS of the Charrties Act 2011 (Ihe Act'l. ComMissic￿ ￿der ￿110￿7 149SMb> of thekL SirK£ the gross IrKJ?rF￿ exceedgl £250.IYJOyourexamuw must be a memtw of a bc*ty listed sectron 145 of the Act. I confimi thal l am auakfied to undertake the examwkn because l am a (JL ROGER SEATON CHARTERED ACCOUNTANT 23 Greenhiu P*k He E￿5 1HQ 13 Aprd 2022 -A11- ## **Accounting Framework** The Financial Statements of the PCC have been prepared using the accruals accounting basis in accordance with the following: - Charities Act 2011 - Charities (Accounts and Reports) Regulations 2008 - FRS 102 (March 2018 as amended) - Accounting and Reporting by Charities: Statement of Recommended Practice (second edition) applicable to charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019) - The Parochial Church Councils (Powers) Measure 1956 as amended - The Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended) - The Church Accounting Regulations 2006 - B1 - ## **Statement of Financial Activities** ||**Unrestricted Designated**
**Restricted Endowment**
**Total**
**Prior year**
**funds**
**funds**
**funds**
**funds**
**funds**
**total funds**
**2021**
**2021**
**2021**
**2021**
**2021**
**2020**| |---|---| |**Income and endowments from:**
Donations and legacies
Income from charitable activities
Other trading activities
Investments
Other income
**Total income**
**Expenditure on:**
Support for charitable activities
Charitable activities
**Total expenditure**
Gains / losses on investment assets
**Net income / (expenditure) resources before**
**transfer**
**Transfers**
Gross transfers between funds - in
Gross transfers between funds - out
**Net movement in cash funds**
**Other recognised gains / losses**
Gains on revaluation, fixed assets, charity's own
use
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**|148,634
26,000
23,370
—
198,004
208,107
1,066
—
—
—
1,066
264
3,965
59,187
169
—
63,321
59,265
389
—
563
—
952
1,368
812
812
—
—
1,624
4,822| ||**154,866**
**85,999**
**24,102**
**—**
**264,967**
**273,827**
11,937
9,022
1,000
—
21,959
23,011
121,584
112,562
44,615
—
278,762
245,784| ||**133,521**
**121,584**
**45,615**
**—**
**300,721**
**268,795**
—
—
—
—
—
—| ||**21,344**
**(35,586)**
**(21,513)**
**—**
**(35,754)**
**5,032**
292
43,154
167
—
43,613
22,418
(43,050)
—
(563)
—
(43,613)
(22,418)| ||**(21,414)**
**7,569**
**(21,909)**
**—**
**(35,754)**
**5,032**
—
—
—
—
—
—| ||**(21,414)**
**7,569**
**(21,909)**
**—**
**(35,754)**
**5,032**| ||**1,108,255**
**29,346**
**60,471**
**—**
**1,198,073**
**1,193,041**| ||**1,086,842**
**36,915**
**38,562**
**—**
**1,162,319**
**1,198,073**| ## **Balance sheet** ||**Total funds**
**Prior year funds**
**2021**
**2020**| |---|---| |**Fixed assets**
Tangible assets
Investments
**Current assets**
Debtors
Investments
Cash at bank and in hand
**Liabilities**
Creditors: Amounts falling due in one year
Provision for liabilities and charges due within one year
**Net current assets less current liabilities**
**Total assets less current liabilities**
**Total net assets less liabilities**|1,025,000
1,025,000
21,857
—| ||**1,046,857**
**1,025,000**
9,117
9,559
53,532
75,000
54,398
93,792| ||**117,047**
**178,352**
436
—
1,149
5,279| ||**1,586**
**5,279**| ||**115,462**
**173,073**| ||**1,162,319**
**1,198,073**| ||**1,162,319**
**1,198,073**| - B2 - |**Represented by**
**Unrestricted**
General fund–buildings
General fund–cash
**Designated**
Charities and Mission commitment
7GC Repair and Renewal Fund
Church Fabric and Repair Fund
Church Weekend Away Fund
Hall, Flat and Guide Hut Repair and Renewal Fund
Legacies and In Memoriam Fund
Ministry Staff Fund
Short Term Mission Grants Fund
Vicarage Fund
22CWG (Curate House) Repair and Renewal Fund
**Restricted**
Bank Interest
Church Fabric and Repair Fund
Conference Fund
Crosslinks
Evangelism Fund
FAB Church and Children's holiday club fund
Leprosy Mission Fund
Ministry Staff Fund
Music Fund
Youth Worker Fund
Hardship Fund
Members Fund
St Thomas Church Fund
St Thomas Youth Group
Fund Raising Events
**Funds of the church**|1,025,000
1,025,000
61,842
83,255
7,575
6,575
1,590
1,613
13,963
5,954
897
1,443
3,553
1,314
319
5,497
2,856
2,076
1,349
1,349
3,863
3,175
950
349
—
—
2,824
3,844
500
500
—
—
1,921
1,921
1,683
34
—
—
3,872
8,170
—
—
721
1,611
2,830
2,450
797
688
23,415
40,752
—
500
—
—| |---|---| ||**1,162,319**
**1,198,073**| 13 April 2022 Approved by the Parochial Church Council on ……………………………………………………………………….. And signed on its behalf by: .…..……………………………………………………………. Chairman …..……………………………………………………………. Member - B3 - ## **St Thomas's Church Oakwood Balance Sheet detailed** |**Balance Sheet detailed**||| |---|---|---| |||**As at**
**As at**
**31/12/2021**
**31/12/2020**| |||| |**Current assets**
United Trust Capital Fund May 2023
Church Hall Guide Hut and Flat
**Fixed assets**
22 Curthwaite Gardens (Curates House)
7 Gerrards Close
**Total Fixed assets**
Cash in hand
United Trust 1 year account
Cash at HSBC Bank
Prepayments
CBF deposit Fund
Trade debtors
United Trust May 2021
HMRC Gift Aid
Accrued Expenses (creditors)
Other Debtors
**Total Current assets**
**Liabilities**
Agency collections
**Net Asset surplus (deficit)**
**Reserves**
Excess / (deficit) to date
**Total Reserves**
Other Creditors
Accounts Payable
**Total Liabilities**
Starting balances
Other gains/(losses)||21,857
—
—
—
650,000
650,000
375,000
375,000| |||**1,046,857**
**1,025,000**
100
7,100
53,532
53,532
34,298
66,693
2,898
2,742
20,000
20,000
—
—
—
21,468
6,220
6,818
—
—| |||1,149
5,279
**117,047**
**178,352**
—
—
—
—
436
—| |||**1,586**
**5,279**| |||| |||**1,162,319**
**1,198,073**| |||| |||(35,754)
5,032
—
—
1,198,073
1,193,041| |||**1,162,319**
**1,198,073**| |**Represented by Funds**||| |**Fixed assets**
**Current assets**
**31/12/2020**
**Liabilities**
**Total**||| |Unrestricted
1,046,857
40,279
Designated
—
38,207
Restricted
—
38,562
Endowment
—
—
—
294
1,292
—
—
—
1,086,842
1,108,255
38,562
60,471
36,915
29,347||| |**Total**
**1,046,857**
**117,047**
**1,586**
**1,162,319**
**1,198,073**||| |||| - B4 - ## **St Thomas's Church Oakwood** ## **Analysis of income and expenditure Selected period: 01 January 2021 to 31 December 2021** |Rent from 7 Gerrards Close
Hall Flat and Guide Hut Income
**_Investments_**
Rent from 22 Curthwaite Gardens
Sundry Receipts
**_Other trading activities_**
**_Income from charitable activities_**
**_Income from charitable activities Totals_**
Interest on CBF deposit account
Fees (portion payable to PCC)
Interest on United Trust Bank
Other Fund Raising Activities
**_Other income_**
Gov furlough scheme re COVID19
**_Other income Totals_**
**_Investments Totals_**
**_Other trading activities Totals_**
Income tax recovered on ad hoc giving
**_Donations and legacies Totals_**
Legacies
Donations
Income Tax Recovered (Gift Aid)
Special Collections
Envelope Scheme
Direct payments
Cash collections
**_Donations and legacies_**
**Income and endowments**
**Income and endowments Grand totals**||**2020**
**Total**
**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**2021**| |---|---|---| |||| |||—
778
—
1,468
1,075
690
39,483
—
26,000
—
—
26,000
5,125
6,096
—
6,572
—
12,668
3,361
23,313
—
2,829
—
26,142
26,944
—
—
1,039
—
1,039
4,422
3,936
—
152
—
4,088
597
114,598
—
12,000
—
126,598
127,099
—
—
—
—
—| |||148,634
26,000
23,370
—
198,004
208,107| |||1,066
—
—
—
1,066
264| |||1,066
—
—
—
1,066
264| |||3,731
2,400
—
41,187
—
—
41,187
35,009
177
—
—
—
18,000
—
—
18,000
—
177
18,000
3,789
126
—
—
—
—
—
—
169
—
3,957| |||—
63,321
59,265
3,965
59,187
169| |||—
933
1,257
—
20
111
—
—
20
389
—
544| |||389
—
563
—
952
1,368| |||812
812
—
—
1,624
4,822| |||812
812
—
—
1,624
4,822| |||| |||154,866
85,999
24,102
—
264,967
273,827| |||| |Office telephone costs (church)
Parish Assistant costs (halls)
Parish Admin. NEST employer (halls)
Church sundry expenses
Accountancy costs
**Expenditure**
**_Support for charitable activities_**
Parish Administrator costs (church)
Parish Assistant costs (church)
Parish Adminstrator costs (halls)
Parish Admin. NEST employer (church)
Printing postage and stationery
Halls and flat sundry expenses
Office telephone costs (halls)
**_Support for charitable activities Totals_**||352
—
—
—
352
342
—
—
—
—
—
664
—
133
—
—
133
135
2,551
—
1,000
—
3,551
3,514
75
—
—
—
75
75
7,560
—
—
—
7,560
7,605
—
—
—
—
—
664
—
7,560
—
—
7,560
7,605
133
—
—
—
133
135
1,265
—
—
—
1,265
1,543
—
977
—
—
977
363
—
352
—
—
352
366| |||11,937
9,022
1,000
—
21,959
23,011| - B5 - |Extraordinary Halls Flat rep maint
Repairs and maintenance of halls and fla
Water bills for halls and church flat
Gas and electric use halls and flat
Costs of insuring halls and church flat
Halls and Guide Hut cleaning and grounds
Church flat facilities
Expenditure on 7 Gerrards Close
OMF International
Mahalir Aran Trust
**_Charitable activities - ministry Totals_**
Leprosy Mission International
Youth Worker
Wellbeing coordinator
Production of Parish News and literature
Well being worker NEST ER pension contri
Vicar's expenses
Sunday School and youth
Employer's NI contrib for Church employe
General Church repairs and maintenance
Crosslinks
Free Recovery co Woodberry Baptist
Vicarage water
Youth worker NEST pension ER contributio
Study resources
Sanctuary requisites
Evangelistic Events
Church music expenses
Church insurance costs
Costs incurred re 7 Gerrards Close
Church gas and electric
Assistant Minister NEST pension contrib
Assistant Min, Women & Families worker
Extraordinary Church rep maintenance
Expenditure Vicarage fund
22 Curthwaite Gardens expenses
London Diocesan Common Fund contribution
Church cleaning grounds maintenance
Church weekend away costs incurred
**_Charitable activities_**
**Expenditure Grand totals**
Other charitable giving
Tearfund
Pathway
Wycliffe Bible translators||**2020**
**Total**
**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**2021**| |---|---|---| |||| |||—
—
—
—
—
—
10,000
61,896
—
—
71,896
11,088
—
430
—
—
430
1,551
—
4,829
—
—
4,829
5,329
—
2,318
—
—
2,318
2,203
—
6,479
—
—
6,479
6,861
—
1,026
—
—
1,026
1,659
55
—
—
—
55
602
2,000
—
2,000
—
—
2,000
500
—
—
500
—
2,000
3,675
—
5,675
3,758
—
—
—
—
2,000
4,286
21,196
—
25,482
—
375
4,375
—
500
—
2,000
500
19,713
—
12,934
296
—
—
—
243
—
369
—
—
—
—
4,000
563
—
4,563
6,428
—
2,000
—
—
314
392
—
—
—
392
288
—
288
291
—
—
375
—
16,692
—
—
243
385
(33)
16,354
—
158
842
—
1,211
35
—
—
—
35
—
—
—
—
—
—
50
—
346
153
—
—
115
—
115
244
—
—
—
3,646
6,607
—
—
—
6,607
6,649
3,965
—
—
—
3,965
775
—
2,022
1,032
—
3,054
43,308
11,599
773
—
—
12,372
92
1,263
—
—
—
1,263
1,705
—
—
413
—
413
13,670
—
—
10,910
—
10,910
281
—
—
—
—
—
—
—
73
—
—
73
29
368
149
—
—
517
2,728
85,200
—
—
—
85,200
85,200
1,194
—
—
—
1,194
1,103
—
1,947
—
—
1,947
113
—
2,400
1,400
—
3,800
3,161
—
—
—
—
—
150
—
500
—
—
500
500
—| |||121,584
112,562
44,615
—
278,762
245,784| |||| |||133,521
121,584
45,615
—
300,721
268,795| - B6 - **St Thomas's Church Oakwood Fund movement by type Selected period: 01 January 2021 to 31 December 2021** |**Fund and type**|**Fund balances**|**Incoming**|**Outgoing**|**Transfers**|**Gains and**|**Journal**|**Fund balances**| |---|---|---|---|---|---|---|---| ||**brought forward**|**Resources**|**Resources**||**Losses**|**Entries**|**carried forward**| |**Unrestricted**|||||||| |General fund - buildings|1,025,000||||—|—|1,025,000| |General fund - cash|83,255|154,866|133,521|(42,758)||—|61,842| |**Sub-totals**|**1,108,255**|**154,866**|**133,521**|**(42,758)**|**—**|**—**|**1,086,842**| |**Designated**|||||||| |Charities and Mission commitment|6,575|—|13,400|14,400|—|—|7,575| |Church Fabric and Repair Fund|5,954|—|2,022|10,030|—|—|13,963| |Church Weekend Away Fund|1,443|—|1,947|1,400|—|—|897| |Hall, Flat and Guide Hut Repair and Renewal|1,314|41,999|54,760|15,000|—|—|3,553| |Fund|||||||| |Legacies and In Memoriam Fund|5,497|26,000|31,240|62|—|—|319| |Ministry Staff Fund|2,076|18,000|17,220|—|—|—|2,856| |Short Term Mission Grants Fund|1,349|—|—|—|—|—|1,349| |Vicarage Fund|3,175|—|73|762|—|—|3,863| |22CWG (Curate House) Repair and|349|—|149|750|—|—|950| |Renewal Fund|||||||| |7GC Repair and Renewal Fund|1,613|—|773|750|—|—|1,590| |**Sub-totals**|**29,347**|**85,999**|**121,584**|**43,154**|**—**|**—**|**36,915**| |**Restricted**|||||||| |Bank Interest|—|563|—|(563)|—|—|—| |Curate Fund|—|—|—|—|—|—|—| |Hardship Fund|2,450|1,380|1,000|—|—|—|2,830| |Lent appeal|—|—|—|—|—|—|—| |Members Fund|688|109|—|—|—|—|797| |St Thomas Church Fund|40,752|—|17,479|142|—|—|23,415| |St Thomas Youth Group|500|—|500|—|—|—|—| |Fund Raising Events|—|5,075|5,075|—|—|—|—| |Assistant Minister, Womens' and Family|—|—|—|—|—|—|—| |Worker|||||||| |Church Fabric and Repair Fund|3,844|—|1,032|12|—|—|2,824| |Conference Fund|500|—|—|—|—|—|500| |Crosslinks|—|563|563|—|—|—|—| |Evangelism Fund|1,921|—|—|—|—|—|1,921| |FAB Church and Children's holiday club fund|34|2,105|457|—|—|—|1,683| |Gift Day Fund|—|—|—|—|—|—|—| |Leprosy Mission Fund|—|—|—|—|—|—|—| |Mens Group Fund|—|—|—|—|—|—|—| |Ministry Staff Fund|8,170|12,970|17,281|13|—|—|3,872| |Music Fund|—|—|—|—|—|—|—| |Youth Worker Fund|1,611|1,338|2,228|—|—|—|721| |**Sub-totals**|**60,471**|**24,102**|**45,615**|**(397)**|**—**|**—**|**38,562**| ||||||||| ||||||||| |**Totals**|**1,198,073**|**264,967**|**300,721**|**—**|**—**|**—**|**1,162,319**| - B7 - ## **The Purposes of Designated and Restricted Funds** ## **a) Repairs funds** The following funds are used for repairs, renewals and maintenance of the relevant buildings: - (i) Church Fabric and Repair Fund; - (ii) 22CWG (Curate House) Repair and Renewal Fund; - (iii) 7GC Repair and Renewal Fund; - (iv) Hall, Flat and Guide Hut Repair and Renewal Fund; - (v) Vicarage Fund. ## **b) Staff funds** - - (i) Ministry Staff Fund used to pay the costs of ministry staff (including youth workers, whenever Youth Worker Fund has insufficient funds). - (ii) Youth Worker Fund – used to pay the costs of youth workers and volunteer workers engaged in youth work. ## **c) Other funds** - (i) Bank Interest – any interest earned is held in this fund and distributed to qualifying funds at year end. - (ii) Charities and Missions Fund – receives at least 10% of the previous year’s stewardship, plus reclaimed tax, in order to give grants to missionary organisations adopted by the PCC. - - (iii) Church Weekend Away Fund used to reduce the cost of the church family weekend away. - (iv) Conference Fund – used to make attendance of training events affordable. - (v) Crosslinks – receives restricted donations throughout the year which are paid at year end. - - (vi) Evangelism Fund used to pay for additional evangelism. - - (vii) Fund Raising Events receives income from fundraising events. - - (viii) FAB Church and Children's holiday club fund receives donations and covers expenditure at and the Easter Holiday Club and other children’s outreach events. - - (ix) Gift Day Fund receives donations for large irregular capital expenditure needs. - - (x) Hardship Fund used to help members of the church who are in financial need. - - (xi) Legacies and In Memoriam Fund receives gifts in memory of deceased individuals and funds are spent on ‘lasting impact’ projects. - - (xii) Lent Appeal Fund receives donations to be given to the Dioceses of London Lent Appeal. - - (xiii) Leprosy Mission Fund receives restricted donations throughout the year which are paid at year end. - (xiv) Members’ Fund – receives surpluses and covers deficits at church events. - (xv) Music Fund – covers choir expenses and other music expenditure. - (xvi) Short Term Mission Grants Fund – used to encourage and subsidise church members taking part in short term gospel mission. - (xvii) St Thomas’ Church Fund – used for the ministry at St Thomas, including paying staff and maintaining the premises. - - (xviii) St Thomas Youth Group used to pay for youth group activities. - B8 - ## **Accounting Policies** The accounts include all transactions for which the PCC can be held responsible. They do not include accounts of either any church group that owes an affiliation to another body or any group where total transactions of that group are deemed "not material" when considered as a proportion of the church's total transactions. All income is recognised once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be measured reliably. Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All figures presented in the accounts are rounded to the nearest pound. ## **a) Material sources of income** - (i) Donations – donations are credited to the General fund, unless a restriction has been expressed in writing by the donor. - (ii) Gift Aid – any Gift Aid received or expected in respect of any donation is credited to the same fund to which the donation was credited. - - (iii) Halls, flat and guide hut lettings and rent income is credited to the Hall, Flat and Guide Hut Repair and Renewal Fund. - (iv) 22 Curthwaite Gardens rent – £750 of income is credited to this fund. Further income is credited to the Ministry Staff Fund to support the costs of ministry staff. - (v) 7 Gerrards Close rent – £750 of income is credited to the 7GC Repair and Renewal Fund. Further income is credited to the Ministry Staff Fund to support the costs of the Wellbeing Coordinator. - (vi) Bank interest – bank interest is credited to the Interest Fund during the year. At the end of each year, the average quarterly balance of each fund is calculated and bank interest is distributed proportionally amongst all funds with an average quarterly balance exceeding £2,000. ## **c) Debtors** - - (i) Insurance prepayments although insurance contracts are paid annually in advance, they are considered to accrue daily. Consequently, amounts are deducted from expenditure in respect of any remaining insured period at year end. - (ii) Gift Aid – the full value of any Gift Aid expected but not yet received at year end is credited to income. - - (iii) Utility accounts in credit the full value of any credit balances held by utility companies at year end is deducted from expenditure. - (iv) Rent due – the full value of any rent due but not yet received from institutions and the full amount of any rent due within the last month but not yet received from individuals is credited to income. - B9 - ## **d) Liabilities** - - (i) Utility accounts in debit the full value of any debit balances owed to utility companies at year end is added to expenditure. - - (ii) Bills paid since year end the full value of any bills paid since year end but relating to the previous accounting period is added to expenditure. ## **e) Split costs** - (i) Administrative costs – certain office expenditure is charged equally to the costs of running the – - church and the costs of running the halls these include the costs of any Parish Administrator or Parish Assistant and the telephone bills. - - (ii) Cleaning usually, the expenditure relating to the cleaning performed each week is split as follows: 15% to the church, 70% to the halls and 15% to the guide hut. ## **f) Valuation of fixed assets** - (i) 22 Curthwaite Gardens and 7 Gerrards Close – the basis for annual valuation is a Rightmove Price Comparison Report, which gives details of asking prices and recent sales of similar properties in close proximity to the assets held. - - (ii) Halls, flat and guide hut the asset is valued on a historical cost less depreciation basis and is now fully depreciated. ## **g) Reserves** - - (i) Church Fabric and Repair Fund the PCC designates a certain amount of money each month (usually between £500 and £1,000) and transfers this money to this fund in order to meet the costs of repairs, renewals and maintenance as they arise. - - (ii) Church Weekend Away Fund the PCC designates a certain amount of money each quarter (usually £350) and transfers this money to this fund in order to make the church family weekend away more widely affordable. - (iii) 22CWG (Curate House) Repair and Renewal Fund – £750 of rental income is credited to this fund in order to meet the costs of repairs, renewals and maintenance as they arise. If the balance in this fund is deemed sufficient then no designation occurs. - (iv) 7GC Repair and Renewal Fund - £750 of rental income is credited to this fund in order to meet the costs of repairs, renewals and maintenance as they arise. If the balance in this fund is deemed sufficient then no designation occurs. - - (v) Hall, Flat and Guide Hut Repair and Renewal Fund repairs, renewals and maintenance expenditure is met by this fund. - (vi) Short Term Mission Grants Fund – the PCC may decide to designate a certain amount of money each year (usually between £0 and £700) and transfer this money to this fund in order to encourage church members to take part in short term gospel mission. If the balance in this fund is deemed sufficient then no designation occurs. - - (vii) Vicarage Fund the PCC designates £750 each year and transfers this money to this fund in order to meet the costs of repairs, renewals and maintenance as they arise. - B10 - ## **Investment Guidelines** The PCC invests funds subject to the following guidelines: - (i) Deposits must be made with institutions covered by the Financial Services Compensation Scheme (FSCS); - (ii) The deposit with each institution must not exceed the FSCS limit, currently £85,000; - (iii) Deposits should be made over a range of maturities, in order to maximise return on investment whilst maintaining sufficient instantly accessible funds to comfortably cover more immediate cashflow requirements; - (iv) Deposits cannot be made with institutions whose business practice is in opposition to the mission of the church. - B11 - ## **Other Disclosures** ## **a) Volunteers** General volunteers play a vital role in the organisation and running of services, teaching and outreach activities of the church. Given the absence of a reliable measurement basis, the contribution of general volunteers is not included as income in the accounts. ## **b) Trustees’ remuneration and benefits** A Common Fund contribution of £85,200 was paid to the Diocese of London in respect of the Vicar, Richard Alldritt. The Common Fund is administered by the Diocese of London to pay for, amongst other things, clergy stipends, National Insurance, Council Tax, pension contribution and the maintenance of vicarages. (For further details, including details of stipends and pension - contributions, please visit: http://www.london.anglican.org/support/finance/common fund/) No other trustee has been paid any remuneration or received any other benefits from an employment with this charity or any related entity. ## **c) Trustees’ expenses** Richard Alldritt had expenses reimbursed. Expenses totalled £645 and were for Council Tax bills, water bills, use of car, public transport, landline and mobile phone use, stationery, hospitality, books and other ministry resources, and training (course fees and expenses). ## **d) Related party transactions** During 2021, the PCC employed Elsa Maycock, the wife of a trustee. The following payments were made in respect of her employment: |Salaries (£)|15,240| |---|---| |Pension (£)|888| |Expenses (£)|852| |TOTAL (£)|16,980| During 2021, the PCC paid Ben Lewis and Tommy Mitchell, the sons of trustees, £45 and £355 respectively for work done maintaining the church grounds. During 2021, the PCC received donations from trustees and close relatives totalling £69,778. ## **e) Audit, independent examination and other financial service fees** None. ## **f) Ex-gratia payments** None. - B12 - ## **g) Staff costs and emoluments** - (i) Total staff costs are broken down as follows: |Salaries (£)|68,367| |---|---| |Pension contributions (£)|3,346| |Staff expenses (£)|3,312| |Volunteer workers’ expenses (£)|7,384| |Contract expenses (£)|-| |Indirect expenses (£)|-| |TOTAL (£)|82,410| |Government Grants (£)|1,624| |NET TOTAL (£)|80,786| - (ii) The average head count during the accounting period was 4. - (iii) No employees received emoluments of more than £60,000. ## **h) Grants** - (i) The notes to the accounts detail recipients of regular grants. Other grants were made to the following institutions: Anglican Mission in England and The Church Society. - (ii) The total amount of grants paid was split as follows: |Long-term mission
Short-term mission
Relief|Institutions (£)
19,138
500|Individuals (£)|TOTALS (£)
19,138
500| |---|---|---|---| |TOTALS|19,638||19,638| (iii) Government Grants totalling £1,624 were received as part of the Coronavirus Job Retention Scheme. ## **i) Agency collections** - (i) £811 of Parochial Fees received and paid to the Diocese of London. - (ii) £13,500 donation received and paid to Woodberry Down Church. ## **j) Material events subsequent to the end of the accounting period** None. - B13 -