PCC of St Thomas Church Oakwood Registered Charity No. 1129369
Trustees’ Annual Report and Accounts for the year ended 31[st] December 2022
| A. Reports | ||
|---|---|---|
| 1. Trustees’ Annual Report | 1 | |
| 2. Financial Risk Assessment | 8 | |
| 3. Independent Examiner’s Report | 10 | |
| 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 The Reverend Richard Alldritt 2 Sheringham Avenue, Southgate N14 4UE Bank HSBC plc 31 Holborn Circus, London EC1N 2HR Treasurer Chris Goodlad 17 Oakwood Park Road, Southgate N14 6QB Independent Examiner Margaret Hobbs
7 Lawn Road, Doncaster, DN1 2JF
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 17 April 2023 The Electoral Roll consists of 159 persons, 59 resident in the parish, 100 non-resident.
Christina Mateides Electoral Roll Officer
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ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2022 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
Particular encouragements this year have come from new people joining the church, the growth of our morning service, a couple of adult baptisms for people coming to faith, as well as seeing a large number of our young people confirmed in the spring.
We went away as a church together for the first time since 2019 and enjoyed a terrific couple of days away together over a very hot July weekend, we participated in the national ‘Passion for Life’ mission - with a jazz reception evening in the church (‘Are you 100% sure you want to be an agnostic?’), a Good Friday Open Air service in Oakwood Park, and our usual Easter Holiday Club (‘Champions’) - and enjoyed a much more ‘normal’ Christmas season (following the last few years of COVID disruption) including a popular Christmas food and drink tasting evening.
The clear explanation of the Bible continued to be central to all of our meetings. Over 2022 we followed the account of the life of Joseph from the book of Genesis - how God takes the worst, most messed up, dysfunctional family ever, puts them back together, changes them, and uses them to bless the whole world; we thought about God’s plan to unite all things in Christ from the book of Ephesians, explored God's gift of sex in the Song of Songs, followed Luke’s account of the early church in the early chapters of Acts, and thought about the story behind the Christmas story in the book of Ruth. In addition, we continued our programme of monthly evening services exploring subjects such as anxiety, rest, weakness, digital godliness, the historical Adam, the new creation, and the doctrine of God.
Hannah Smith joined the team from St Ebbes in Oxford as our female pastoral worker.
We continue to be very thankful for the dedication, hard work and service of the church family in so many areas of church life - from those involved in the music ministry, sound desk, and children’s groups on a Sunday morning through to those leading our after-school and pre-school ministries during the week.
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Financial Review
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Total funds: Total cash funds rose slightly in 2022, with income exceeding expenditure by just over £1k.
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*rose Income ~~fell~~ by about £12k, with a continued recovery in hall income post COVID more than covering a small fall in regular giving. Restricted donations received to fund the church AV upgrade replaced a large legacy received in 2021. Expenditure fell by almost £25k. Cleaning bills and energy bills increased, but this was more than offset by a reduction in repairs expenditure.
General Fund: Building projects did not require subsidy and some of the subsidy for the previous year’s building work was returned. This offset a small reduction in giving and increased staff costs, leaving the General Fund little changed over the year.
Staff funds: Regular monthly expenditure exceeds the regular monthly income that is restricted to these funds, with total balances falling by £16k.
Building funds: The major items of expenditure were £22k upgrading the church AV system (paid for by restricted donations) and £6k converting the old choir vestry into a lounge area.
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
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We have a church away day 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 might come, and pray that God might use it to build a greater sense of gospel partnership and church family.
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We are looking forward to welcoming Ryan Scott to the team in September as our curate. He arrives from Oak Hill college.
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We are hoping to launch a new gospel work in Ponders End in partnership with other local churches in September 2023.
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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.
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The PCC held 6 meetings during the year together. Over the course of 2022 we promised to give £87,775 to the Diocesan Common Fund for 2022, 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 2022. 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:-
Incumbent: Richard Alldritt (Chairman) Churchwardens: Andrew Lewis & Pippa Reid Deanery Synod: Charles Maycock, Andy Reid, Mohan Yogendran Elected members[1] Janelle Budinski[2] Hannah Giles Chris Goodlad (Treasurer) Jenny Hammond (Secretary) Liz Maggs Harriet Mitchell Stella Roberts Richard Stones
Notes: 1 Based on our current electoral roll figures, the maximum number of elected representatives is 12. 2 from September
Independent examiner: Margaret Hobbs MA MBA FCA
Adopted by the PCC on 13 March 2023, and signed by the Chairman:
Richard Alldritt Vicar, St Thomas Oakwood
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ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2022 CHURCH FABRIC, GOODS & ORNAMENTS
Church Fabric
Over the last few years we have undertaken a number of fairly major building projects both in the main church building and in the halls. By comparison this last year was much quieter on that front - the three exceptions being the refurbishment of the church lounge (the old choir vestry) over the autumn, the upgrade of the church AV system (paid for by restricted donations) and the re-surfacing of the steps outside the main entrance of the hall.
In addition, a number of smaller projects and regular items of maintenance have been completed including:
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The lightning conductor was inspected and tested.
In the next few months we are hoping to repair and replace the coping stones on the main roof of the church as well as upgrade the interior of the church flat ahead of Ryan and Romy’s arrival in the summer.
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 the refurbishment of the new church lounge.
Signed by the church wardens:
Andrew Lewis
Pippa Reid
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ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2022 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.
March 2022
In March the Deanery met at St Paul’s Winchmore Hill with guest speaker Paula Gooder (‘Reflections on Lent in dark times’).
June 2022
In July the Deanery met at St Aldhelm Edmonton with guest speaker Natasha Beccles speaking about the work of Compassionate Communities.
Nov 2022
In November the Deanery met at St Stephen’s Bush Hill Park with Amatu Christian speaking on the subject of Racial Justice
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ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2022
SAFEGUARDING REPORT
Over the course of 2022 the PCC re-affirmed our Child Protection Policy, with Peachey David and Stella Roberts as our Safeguarding Officers and Harriet Mitchell as our Children’s Champion. Over the course of the year, we have been using the new Safeguarding Dashboard system working towards the various goals and actions; a full action plan has been approved, and the PCC have been updated at each meeting.
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| Trustees Treasurer Administrator |
Treasurer | Treasurer | Treasurer | Treasurer | Treasurer Bookkeeper |
Churchwardens Sidesmen Service leaders |
Treasurer | Trustees | Treasurer Trustees |
Treasurer Trustees |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. |
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| 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. |
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| 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 |
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| 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 |
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| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |||
| - A7 - - A8 - |
| Trustees Treasurer |
Bookkeeper | Trustees | Bookkeeper Treasurer |
Administrator Church staff Treasurer |
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|---|---|---|---|---|---|---|
| Persons responsible |
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| 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. |
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| 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. |
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| 3 | 2 | 9 | 6 | 4 | 9 | |
| Risk rating |
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| 3:1 | 2:1 | 3:3 | 2:3 | 4:1 | 3:3 | |
| Significance: Probability |
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| 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) |
Finances impacted by impaired relationship with CofE |
| 11 | 12 | 13 | 14 | 15 | 16 |
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Independent examiner's report on the accounts
Independent Examiner’s Report
| Report to the trustees/ members of On accounts for the year ended Set out on pgs |
PCC of St Thomas Oakwood | ||
|---|---|---|---|
| 31stDecember 2022 | Charity no | 1129369 | |
| B1-B13 |
Respective The charity's trustees are responsible for the preparation of the accounts in accordance with responsibilities the Charities Act 2011 (“the Act”). of trustees and The charity’s trustees consider that an audit is not required for this year under section 144 of examiner the Act and that an independent examination is needed.
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW. It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
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to state whether particular matters have come to my attention
Basis of My examination was carried out in accordance with general Directions given by the Charity independent Commission. An examination includes a review of the accounting records kept by the charity examiner’s and a comparison of the accounts presented with those records. It also includes statement consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent In connection with my examination, no material matters have come to my attention which give examiner's me cause to believe that in, any material respect: statement the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did 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.
| Signed: Name: Address: |
25/04/2023 | |
|---|---|---|
| Margaret Hobbs MA MBA FCA | ||
| 7 Lawn Road, Doncaster DN1 2JF |
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Accounting Framework
The Financial Statements of the PCC have been prepared using the accruals accounting basis in accordance with the following:
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Charities Act 2011, as amended by the Charities Act 2022
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Charities (Accounts and Reports) Regulations 2008
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FRS 102 (March 2018 as amended)
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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)
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The Parochial Church Councils (Powers) Measure 1956 as amended
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The Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended)
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The Church Accounting Regulations 2006
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Accounts of St Thomas Church Oakwood
1st January 2022 to 31st December 2022
Statement of Financial Activities
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | Total | Total | |
| Income and endowments | ||||||
| Donations and legacies | 142,905 | 2,968 | 41,602 | - | 187,475 | 198,004 |
| Charitable activities | 536 | - | - | - | 536 | 1,066 |
| Other trading activities | 4,835 | 82,555 | 862 | - | 88,252 | 63,321 |
| Investments | - | - | 735 | - | 735 | 952 |
| Other income | - | - | - | - | - | 1,624 |
| Total - Income and endowments | 148,276 | 85,523 | 43,199 | - | 276,998 | 264,967 |
| Expenditure | ||||||
| Support for charitable activities | 11,860 | 9,503 | 319 | - | 21,682 | 21,959 |
| Charitable activities | 118,874 | 76,072 | 59,163 | - | 254,109 | 278,762 |
| Total - Expenditure | 130,734 | 85,575 | 59,482 | - | 275,791 | 300,721 |
| Investment assets | ||||||
| Gains /(losses)on investment assets | - | - | - | - | - | - |
| Net income /(expenditure) before transfers | 17,542 | (52) | (16,283) | - | 1,207 | (35,754) |
| Transfers | ||||||
| Gross transfers between funds - in | 11,806 | 30,113 | 166 | - | 42,085 | 43,613 |
| Gross transfers between funds - out | (29,850) | (11,500) | (735) | - | (42,085) | (43,613) |
| Net movement in cash funds | (502) | 18,561 | (16,852) | - | 1,207 | (35,754) |
| Other recognised gains / (losses) | ||||||
| ReRevaluation of fixed assets | 75,000 | - | - | - | 75,000 | - |
| Net movement in funds | 74,498 | 18,561 | (16,852) | - | 76,207 | (35,754) |
| Total funds brought forward | 1,086,842 | 36,915 | 38,562 | - | 1,162,319 | 1,198,073 |
| Net movement in funds | 74,498 | 18,561 | (16,852) | - | 76,207 | (35,754) |
| Total funds carried forward | 1,161,340 | 55,476 | 21,710 | - | 1,238,526 | 1,162,319 |
Balance Sheet
| Balance Sheet | |||
|---|---|---|---|
| As at 31st December | 2022 | 2021 | |
| Total | Total | ||
| Fixed assets | |||
| Tangible assets | 1,100,000 | 1,025,000 | |
| Investments | 53,937 | 21,857 | |
| 1,153,937 | 1,046,857 | ||
| Current assets | |||
| Cash at bank and in hand | 58,959 | 54,398 | |
| Investments | 22,054 | 53,532 | |
| Debtors | 9,419 | 9,118 | |
| 90,432 | 117,048 | ||
| Current liabilities | |||
| Creditors: Amounts falling due within one year | - | 437 | |
| Provision for liabilities due within one year | 5,843 | 1,149 | |
| 5,843 | 1,586 | ||
| Net current assets less current liabilities | 84,589 | 115,462 | |
| Net total assets less total liabilities | 1,238,526 | 1,162,319 |
- B2 -
Accounts of St Thomas Church Oakwood
1st January 2022 to 31st December 2022
| Represented by | ||||
|---|---|---|---|---|
| As at 31st December | 2022 | 2021 | ||
| Total | Total | |||
| General fund | ||||
| U-GNRLF | General fund - buildings | 1,100,000 | 1,025,000 | |
| U-GNRL | General fund - cash | 61,340 | 61,842 | |
| Designated funds | ||||
| D-MIND | Ministry Staff | 7,614 | 2,856 | |
| D-WKND | Church Weekend Away | 1,390 | 897 | |
| D-CHAR | Charities and Missions | 4,600 | 7,575 | |
| D-MSGR | Short Term Mission Grants | 1,349 | 1,349 | |
| D-LGCY | Legacies | 537 | 319 | |
| D-CFRD | Church Building Maintenance | 16,923 | 13,963 | |
| D-HFGH | Halls, Flat and Guide Hut | 15,704 | 3,553 | |
| D-CRTH | Curthwaite Gardens | 876 | 950 | |
| D-GERR | Gerrards Close | 1,956 | 1,590 | |
| D-VCRG | Vicarage | 4,527 | 3,863 | |
| Restricted funds | ||||
| R-CURA | Curate | - | - | |
| R-MINR | Ministry Staff | 4,607 | 3,872 | |
| R-YTHW | Youth Workers | 551 | 721 | |
| R-TOMS | St Thomas' Church Fund | 1,894 | 23,415 | |
| R-EVAN | Evangelism | 1,921 | 1,921 | |
| R-HCFC | @toms and Holiday Club | 1,192 | 1,683 | |
| R-YGRP | Youth Group | - | - | |
| R-HARD | Hardship | 2,880 | 2,830 | |
| R-MEMB | Members' Fund | 797 | 797 | |
| R-CONF | Conference Fund | 500 | 500 | |
| R-CFRR | Church Building Maintenance | 7,368 | 2,823 | |
| R-CROS | Crosslinks | - | - | |
| R-LEPR | Leprosy Mission | - | - | |
| R-FUND | Fundraising events | - | - | |
| R-INTR | Bank interest | - | - | |
| Funds of the church | 1,238,526 | 1,162,319 |
Approved by the Parochial Church Council on
13 March 2023
And signed on its behalf by
Chairman
Member
- B3 -
Accounts of St Thomas Church Oakwood
1st January 2022 to 31st December 2022
Detailed Balance Sheet
| Detailed Balance Sheet | |||
|---|---|---|---|
| As at 31st December | 2022 | 2021 | |
| Total | Total | ||
| Fixed assets | |||
| 7ACUR | 22 Curthwaite Gardens | 725,000 | 650,000 |
| 7AGER | 7 Gerrards Close | 375,000 | 375,000 |
| 7AHFGH | Halls, flat and guide hut | - | - |
| UNITED23 | United Trust Bank May 2023 | - | 21,857 |
| UNITED24 | United Trust Bank October 2024 | 53,937 | - |
| Total - Fixed assets | 1,153,937 | 1,046,857 | |
| Current assets | |||
| CASH | Cash in hand | 100 | 100 |
| HSBC | HSBC | 38,859 | 34,298 |
| CBFDEP | CBF Deposit Fund | 20,000 | 20,000 |
| UNITED1 | United Trust Bank 1yr notice | - | 53,532 |
| UNITED23 | United Trust Bank May 2023 | 22,054 | - |
| ZHMRC | HMRC Gift Aid claimed | 6,599 | 6,220 |
| ZPREPAY | Prepayments | 2,820 | 2,898 |
| Total - Current assets | 90,432 | 117,048 | |
| Current liabilities | |||
| Z04 | Creditors: Amounts falling due within one year | - | 437 |
| 9AACCRUE | Provision for liabilities due within one year | 5,843 | 1,149 |
| Total - Current liabilities | 5,843 | 1,586 | |
| Net total assets less total liabilities | 1,238,526 | 1,162,319 | |
| Reserves | |||
| Starting balances | 1,162,319 | 1,198,073 | |
| Surplus / (deficit) | 1,207 | (35,754) | |
| Other gains / (losses) | 75,000 | - | |
| Total reserves | 1,238,526 | 1,162,319 |
Represented by
| Unrestricted Designated Restricted Endowment Total |
Assets Liabilities 2022 2021 Fixed Current Current Total Total 1,123,884 38,850 1,394 1,161,340 1,086,842 21,600 38,325 4,449 55,476 36,915 8,453 13,257 - 21,710 38,562 - - - - - |
|---|---|
| 1,153,937 90,432 5,843 1,238,526 1,162,319 |
- B4 -
Accounts of St Thomas Church Oakwood
1st January 2022 to 31st December 2022
Income and Expenditure
| Income and Expenditure | ||||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Unrestricted | Designated | Restricted | Endowment | Total | Total | |
| Income and endowments | ||||||
| Donations and legacies | ||||||
| 3APlanned giving | 109,750 | - | 11,970 | - | 121,720 | 126,598 |
| 3AEnvelope Scheme | 4,537 | - | 161 | - | 4,698 | 4,088 |
| 3ACash collections | 2,132 | - | - | - | 2,132 | - |
| 3ASpecial collections | - | - | - | - | - | 1,039 |
| 3A - Gift Aid income |
21,999 | - | 2,733 | - | 24,732 | 26,142 |
| 3BDonations | 4,238 | 2,470 | 21,452 | - | 28,160 | 12,668 |
| 3BLegacies | - | 210 | - | - | 210 | 26,000 |
| 3B - Gift Aid income |
249 | 288 | 5,286 | - | 5,823 | 1,469 |
| Total - Donations and legacies | 142,905 | 2,968 | 41,602 | - | 187,475 | 198,004 |
| Charitable activities | ||||||
| 3CStatutoryFees | 536 | - | - | - | 536 | 1,066 |
| Total - Charitable activities | 536 | - | - | - | 536 | 1,066 |
| Other trading activities | ||||||
| 3CHalls, flat and guide hut income | - | 63,955 | - | - | 63,955 | 41,187 |
| 3CRent from 22 Curthwaite Gardens | - | 18,600 | - | - | 18,600 | 18,000 |
| 3CRent from 7 Gerrards Close | - | - | - | - | - | - |
| 3CSundry Receipts | 4,579 | - | 862 | - | 5,441 | 3,957 |
| 3DOther FundraisingActivities | 256 | - | - | - | 256 | 177 |
| Total - Other trading activities | 4,835 | 82,555 | 862 | - | 88,252 | 63,321 |
| Investments | ||||||
| 3EInterest on CBF deposit account | - | - | 133 | - | 133 | 20 |
| 3EInterest on United Trust Bank | - | - | 602 | - | 602 | 932 |
| Total - Investments | - | - | 735 | - | 735 | 952 |
| Other income | ||||||
| 3CGovernment Grant(furlough) | - | - | - | - | - | 1,624 |
| Total - Other income | - | - | - | - | - | 1,624 |
| Total - Income and endowments | 148,276 | 85,523 | 43,199 | - | 276,998 | 264,967 |
| Expenditure | ||||||
| Support for charitable activities | ||||||
| Staff | ||||||
| 4A Parish Administrator (church) |
8,127 | - | - | - | 8,127 | 7,560 |
| 2H Parish Administrator (halls) |
- | 8,127 | - | - | 8,127 | 7,560 |
| 4A Parish Assistant (church) |
- | - | - | - | - | - |
| 2H Parish Assistant (halls) |
- | - | - | - | - | - |
| 4A Employer pension contribution (church) |
150 | - | - | - | 150 | 133 |
| 2H Employer pension contribution (halls) |
- | 150 | - | - | 150 | 133 |
| Other expenses | ||||||
| 4A Accountancy costs |
75 | - | - | - | 75 | 75 |
| 4B Office telephone (church) |
411 | - | - | - | 411 | 352 |
| 2H Office telephone (halls) |
- | 411 | - | - | 411 | 352 |
| 4B Printing postage and stationery |
1,203 | - | 275 | - | 1,478 | 1,265 |
| 4A Sundry expenses (church) |
1,894 | - | 44 | - | 1,938 | 3,552 |
| 2H Sundryexpenses(halls) |
- | 815 | - | - | 815 | 977 |
| Total - Support for charitable activities | 11,860 | 9,503 | 319 | - | 21,682 | 21,959 |
- B5 -
Accounts of St Thomas Church Oakwood
1st January 2022 to 31st December 2022
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | Total | Total | ||
| Charitable activities | |||||||
| Staff | |||||||
| 4A | Common Fund | 85,200 | - | - | - | 85,200 | 85,200 |
| 4A | Vicar's expenses | 170 | - | - | - | 170 | 243 |
| 4A | Church music | 6,814 | - | - | - | 6,814 | 6,607 |
| 4A | Pastoral coordinator | - | 13,873 | 4,809 | - | 18,682 | 16,692 |
| 4A | - employer pension contributions | - | - | 324 | - | 324 | 288 |
| 4A | Youth workers | 10,333 | - | 29,314 | - | 39,647 | 36,392 |
| 4A | - employer pension contributions | 248 | - | 915 | - | 1,163 | 787 |
| 4A | National Insurance | 1,804 | - | - | - | 1,804 | - |
| Mission partners | |||||||
| 4C | Crosslinks | - | 4,512 | 563 | - | 5,075 | 4,563 |
| 4C | Friends International | - | 1,000 | - | - | 1,000 | - |
| 4C | Leprosy Mission | - | 562 | - | - | 562 | 500 |
| 4C | Mahalir Aran Trust | - | 7,250 | - | - | 7,250 | 5,675 |
| 4C | OMF International | - | 2,263 | - | - | 2,263 | 2,000 |
| 4C | Pathway | - | 563 | - | - | 563 | 500 |
| 4C | Release International | - | 1,000 | - | - | 1,000 | - |
| 4C | Woodberry Recovery | - | 2,125 | - | - | 2,125 | 2,000 |
| 4C | Other charitable giving | - | 400 | - | - | 400 | 3,800 |
| Buildings | |||||||
| 4A | Church building (insurance) | 4,229 | - | - | - | 4,229 | 3,965 |
| 2H | Halls, flat and guide hut (insurance) | - | 2,448 | - | - | 2,448 | 2,318 |
| 4A | Church building (maintenance) | - | 8,976 | 22,032 | - | 31,008 | 3,054 |
| 2H | Halls, flat and guide hut (maintenance) | - | 7,391 | - | - | 7,391 | 71,896 |
| 4A | 22 Curthwaite Gardens | 380 | 824 | - | - | 1,204 | 517 |
| 4A | 7 Gerrards Close | 360 | 384 | - | - | 744 | 12,427 |
| 4A | Vicarage | - | 108 | - | - | 108 | 73 |
| Utilities | |||||||
| 4A | Energy (church building) | 4,764 | - | - | - | 4,764 | 1,263 |
| 2H | Energy (halls, flat and guide hut) | - | 8,470 | - | - | 8,470 | 4,829 |
| 2H | Water | - | 1,845 | - | - | 1,845 | 430 |
| 4A | Water (vicarage) | 401 | - | - | - | 401 | 392 |
| Other | expenses | ||||||
| 4A | Church weekend away | - | 929 | - | - | 929 | 1,946 |
| 4A | Cleaning (church building and grounds) | 1,970 | - | - | - | 1,970 | 1,194 |
| 2H | Cleaning (halls, guide hut and grounds) | - | 10,016 | - | - | 10,016 | 6,479 |
| 2H | Flat facilities | - | 976 | - | - | 976 | 1,026 |
| 4A | Outreach | 976 | - | - | - | 976 | 115 |
| 4A | Publicity | 431 | - | - | - | 431 | 345 |
| 4A | Sanctuary requisites | 55 | 157 | - | - | 212 | - |
| 4A | Study resources | 9 | - | - | - | 9 | 35 |
| 4A | Youth and children's work | 730 | - | 1,206 | - | 1,936 | 1,211 |
| Total - Charitable activities | 118,874 | 76,072 | 59,163 | - | 254,109 | 278,762 | |
| Total - Expenditure | 130,734 | 85,575 | 59,482 | - | 275,791 | 300,721 |
- B6 -
Accounts of St Thomas Church Oakwood
1st January 2022 to 31st December 2022
Fund movement
| Open | Income | Expenditure | Transfers | Revaluation | Close | |
|---|---|---|---|---|---|---|
| General fund (unrestricted) | ||||||
| U-General fund - buildings | 1,025,000 | - | - | - | 75,000 | 1,100,000 |
| U-General fund - cash | 61,842 | 148,276 | 130,734 | (18,044) | - | 61,340 |
| Total - General fund | 1,086,842 | 148,276 | 130,734 | (18,044) | 75,000 | 1,161,340 |
| Designated funds (unrestricted) | ||||||
| D-Ministry Staff | 2,856 | 18,600 | 13,873 | 31 | - | 7,614 |
| D-Church Weekend Away | 897 | - | 929 | 1,422 | - | 1,390 |
| D-Charities and Missions | 7,575 | 2,500 | 19,675 | 14,200 | - | 4,600 |
| D-Short Term Mission Grants | 1,349 | - | - | - | - | 1,349 |
| D-Legacies | 319 | 218 | - | - | - | 537 |
| D-Church Building Maintenance | 13,963 | - | 9,133 | 12,093 | - | 16,923 |
| D-Halls, Flat and Guide Hut | 3,553 | 64,205 | 40,649 | (11,405) | - | 15,704 |
| D-Curthwaite Gardens | 950 | - | 824 | 750 | - | 876 |
| D-Gerrards Close | 1,590 | - | 384 | 750 | - | 1,956 |
| D-Vicarage | 3,863 | - | 108 | 772 | - | 4,527 |
| Total - Designated funds | 36,915 | 85,523 | 85,575 | 18,613 | - | 55,476 |
| Restricted funds | ||||||
| R-Curate | - | - | - | - | - | - |
| R-Ministry Staff | 3,872 | 12,951 | 12,236 | 20 | - | 4,607 |
| R-Youth Workers | 721 | 1,350 | 1,520 | - | - | 551 |
| R-TSt Thomas' Church Fund | 23,415 | - | 21,606 | 85 | - | 1,894 |
| R-Evangelism | 1,921 | - | - | - | - | 1,921 |
| R-@toms and Holiday Club | 1,683 | 865 | 1,356 | - | - | 1,192 |
| R-Youth Group | - | 169 | 169 | - | - | - |
| R-Hardship | 2,830 | 50 | - | - | - | 2,880 |
| R-Members' Fund | 797 | - | - | - | - | 797 |
| R-Conference Fund | 500 | - | - | - | - | 500 |
| R-Church Building Maintenance | 2,823 | 26,516 | 22,032 | 61 | - | 7,368 |
| R-Crosslinks | - | 563 | 563 | - | - | - |
| R-Leprosy Mission | - | - | - | - | - | - |
| R-Fundraising events | - | - | - | - | - | - |
| R-Bank interest | - | 735 | - | (735) | - | - |
| Total - Restricted funds | 38,562 | 43,199 | 59,482 | (569) | - | 21,710 |
| Total funds | 1,162,319 | 276,998 | 275,791 | - | 75,000 | 1,238,526 |
- 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 Building Maintenance;
-
(ii) Curthwaite Gardens;
-
(iii) Gerrards Close;
-
(iv) Halls, flat and guide hut;
-
(v) Vicarage.
b) Staff funds
-
(i) Ministry Staff used to pay the costs of ministry staff (including youth workers, whenever Youth Workers fund has insufficient funds).
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(ii) Youth Workers – used to pay the costs of youth workers and volunteer workers engaged in youth work.
c) Other funds
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(i) Bank interest – any interest earned is held in this fund and distributed to qualifying funds at year end.
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(ii) Charities and Missions – 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 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 used to pay for additional evangelism.
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(vii) Fundraising Events receives income from fundraising events.
-
(viii) @toms and Holiday Club receives donations and covers expenditure at @toms, the Easter Holiday Club and other children’s outreach events.
-
(ix) Hardship used to help members of the church who are in financial need.
-
(x) Legacies receives gifts in memory of decea sed individuals and funds are spent on ‘lasting impact’ projects.
-
(xi) Leprosy Mission receives restricted donations throughout the year which are paid at year end.
-
(xii) Members’ Fund – receives surpluses and covers deficits at church events.
-
(xiii) Short Term Mission Grants – used to encourage and subsidise church members taking part in short term gospel mission.
-
(xiv) St Thomas’ Church Fund – used for the ministry at St Thomas, including paying staff and maintaining the premises.
-
(xv) 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 Halls, flat and guide hut fund.
-
(iv) Property rental income is credited to the Ministry Staff fund to support the costs of ministry staff.
-
(v) Bank interest – bank interest is credited to the Bank 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 Building Maintenance 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 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) Property (Curthwaite Gardens, Gerrards Close, Vicarage) the PCC designates £750 each year per property and transfers this money to each of these funds 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) Halls, flat and guide hut repairs, renewals and maintenance expenditure is met by this fund.
-
(v) Short Term Mission Grants – 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.
-
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 £571 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 2022, the PCC employed Elsa Maycock, the wife of a trustee. The following payments were made in respect of her employment:
| Salaries (£) | 16,428 |
|---|---|
| Pension (£) | 924 |
| Expenses (£) | 1,654 |
| TOTAL (£) | 19,006 |
During 2022, the PCC paid Daniel Goodlad, Ben Lewis and Tommy Mitchell, the sons of trustees, £180, £30 and £160 respectively for work done maintaining the church grounds.
During 2022, the PCC received donations from trustees and close relatives totalling £78,275.
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 (£) | 84,064 |
|---|---|
| Pension contributions (£) | 4,339 |
| Staff expenses (£) | 4,450 |
| Volunteer workers’ expenses (£) | - |
| Contract expenses (£) | - |
| Indirect expenses (£) | - |
| TOTAL (£) | 92,853 |
-
(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 (£) 19,675 - 563 |
Individuals (£) - - - |
TOTALS (£) 19,675 - 563 |
|---|---|---|---|
| TOTALS | 20,238 | - | 20,238 |
i) Agency collections
-
(i) £610 of Parochial Fees received and paid to the Diocese of London;
-
(ii) £3,375 Gift Aid received and paid to Woodberry Down Church;
-
(iii) £339 of expenses paid on behalf of staff and collected through payroll;
-
(iv) £76 collected on behalf of the Nightingale Cancer Support Charity.
-
j) Material events subsequent to the end of the accounting period
None.
- B13 -