**PCC of St Thomas Church Oakwood Registered Charity No. 1129369** **Trustees’ Annual Report and Accounts for the year ended 31[st] December 2023** |**A. Reports**||| |---|---|---| ||**1. Electoral Roll Report**|1| ||**2. Trustees’ Annual Report**|2| ||**3. Financial Risk Assessment**|9| ||**4. Independent Examiner’s Report**|11| |**B. Accounts**||| ||**5. Accounting Framework**|1| ||**6. Statement of Financial Activities**|2| ||**7. Balance Sheet**|2| ||**8. 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)
Guidelines and Controls|9| ||(vi)
Accounting Policies|10| ||(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** Clive Makombera 20 Stratfield Park Close, London N21 1BU **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 2 May 2024. The Electoral Roll consists of 166 persons, 56 resident in the parish, 110 non-resident. Christina Mateides Electoral Roll Officer - A1 - **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2023 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 last year have come from many new people joining the church, and the growth of our morning service. We enjoyed a ‘day at home’ together in July looking at Psalm 119 and continued to run a full programme of outreach activities: including our annual Easter holiday club (‘Space Academy’), our Good Friday Open Air service, our weekly after school club and toddler groups as well as our monthly door to door ministry. We enjoyed a much more normal Christmas season (following the last few years of COVID disruption) with significantly more guests and visitors than seen in previous years. The clear explanation of the Bible continued to be central to all of our meetings (whether Sunday or midweek). Over 2023 we followed Matthew’s account of the passion narrative - the cross as the centrepiece for all God’s plans for history; we explored the subject of gospel culture (from Romans 12) as well as considering various key questions of discipleship provoked by Jesus’ imminent departure (John 13-17). In addition, we explored various topical subjects including expressive individualism and human sexuality, as well as running a marriage enrichment evening. Since the autumn - and in partnership with two other local churches - we have begun to pioneer a gospel work in the buildings of St Matthew’s Ponders End. We started an English conversation class, a weekly outreach ministry, and a Sunday afternoon Bible study, and in addition have held Christmas and Easter events reaching out to the local community. We look forward to welcoming a new minister to lead the work there in the summer. At Christmas we said goodbye to Henrik (our Youth and children’s minister) as he and Mandy made the move back to Denmark to take up a senior pastor position. We welcomed Ryan and family to the team in September as our curate, arriving from Oak Hill college. 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 - - A2 children’s groups on a Sunday morning through to those leading our after-school and pre-school ministries during the week. ## **Financial Review** Total funds: Total cash funds rose significantly in 2023. An increase in giving was offset by increased staff costs, but Common Fund contributions were paused, waiting for an appropriate governance structure to be set up to enable orthodox parishes to remain within the Church of England. - (i) £20k that would have been paid to the Common Fund has been designated for use at St Matthew’s Ponders End. - (ii) £10k was given to Grace Church Upton. (iii) In February 2024, a further £35k was paid to complete the 2023 Common Fund contribution. General Fund: Unrestricted income rose sharply to £177k (2022: £148k), as donations increased to £172k (2022: £143k). The following significant amounts were designated: - (i) Just over £83k was transferred to a new designated fund for Common Fund, to cover the expected contributions for 2023 and 2024. - (ii) £20k was transferred to a new designated fund for St Matthew’s Ponders End. - (iii) £14k was transferred to the Charities and Missions Fund to honour the commitment to give 10% of unrestricted regular giving to various charities and missions. - (iv) £13k was transferred to building funds. Aside from the decisions arising from the Common Fund situation, underlying General Fund expenditure rose to £69k (2022: £46k) due to increased average head count. Staff funds: Regular monthly expenditure exceeds the regular monthly income that is restricted to these funds. However, a one-off gift of £7k reduced the fall, leaving total end of year balances at £6k (2022: £14k). Building funds: Numerous significant repairs left total end of year balances at £33k (2022: £47k). The major items of expenditure were: - (i) £25k to replace damaged coping stones (£10k paid and £15k reserved). - (ii) £15k refurbishing the church flat. - (iii) £10k replacing the small hall roof. - (iv) £7k reserved to repair the bathroom at Gerrards Close. ## **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 PCC aims to keep liquid non-restricted reserves no lower than a level of approximately 3 months’ running costs, currently £50-75k. Further information on reserves can be found in the notes to the accounts (Section B8.5 – Guidelines and Controls). ## **Plans for Future Periods** There are a number of specific items for prayer in 2024: - We have a church weekend at home 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 - - A3 as possible might come, and pray that God might use it to build a greater sense of gospel partnership and church family. - We have launched a new Explaining Christianity course both as a way of following up guests over the Easter period, as well as helping new people in our church integrate into the fellowship. - There are currently lots of gaps in various areas of ministry - especially with Hannah Smith moving on this summer. We are really looking forward to welcoming Robert Espie to the team in the summer as our new ministry trainee, but sadly (at time of writing) we have been unable to make any other staff appointments. This is a matter for significant prayer, especially in terms of ministry to women and teenage girls in our church. Might you be the answer to our prayers in this area? - We are looking forward to welcoming Jeremy Hobson as minister of St Matthew’s Ponders End as we continue to partner with Christ Church Cockfosters and Grace Church Highlands in establishing a new gospel work over the other side of the A10. - Following a recent trial, and in line with feedback received, we are hoping to run a _monthly_ adult Sunday school (‘Joining the Dots’) immediately after the morning service as a way of deepening our discipleship as we seek to deepen our relationships. This will take place after the monthly service of the Lord’s Supper. - There is a complete stalemate and log jam in the wider church following the direction taken over the Prayers of Love and Faith (PLF). Since February 2023, the ‘Alliance’ (representing orthodox churches across the networks and traditions) together with the Church of England Evangelical Council (CEEC) have been asking the bishops to provide alternative structural provisions to enable orthodox churches to continue ministering with a clear conscience in the Church of England. To date no such provisions have been made. In the meantime many churches are in a position of impaired fellowship with the House of Bishops and have chosen to redirect Common Fund payments to support orthodox Anglican ministry. - Finally, and of course most importantly, we pray that the LORD might grow us as a church 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 8 meetings during the year together. 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 2023. 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. - - A4 During the year, the following served as members of the PCC:- **Ex-officio members: Incumbent:** Richard Alldritt (Chairman) **Churchwardens:** Andrew Lewis & Pippa Reid **Deanery Synod:** Charles Maycock, Andy Reid, Mohan Yogendran **Elected members[1]** Janelle Budinski Hannah Giles Chris Goodlad (Treasurer) Jenny Hammond (Secretary) Liz Maggs Harriet Mitchell Stella Roberts Ryan Scott[2] Richard Stones **Notes:** 1 Based on our current electoral roll figures, the maximum number of elected representatives is 12. 2 from September Independent examiner: Clive Makombera Adopted by the PCC on 2 May 2024, and signed by the Chairman: Richard Alldritt Vicar, St Thomas Oakwood - - A5 ## **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2023 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. In 2023 we refurbished the church flat (ahead of Ryan and Romy moving in over the summer), we replaced the roof on the small hall, and refitted the bathroom in Gerrard’s Close (one of the external properties we own). In addition, and on the advice of the church architect, we began the work of replacing some of the coping stones on the main church roof. In addition, a number of smaller projects and regular items of maintenance have been completed including: - The fire extinguishers were inspected and serviced. - The lightning conductor was inspected and tested. - The annual gas and fire services took place. In the next few months we are hoping to upgrade the church kitchen so that we are more easily able to run events and serve tea and coffee in the main church building. ## **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 and Stella Roberts for their ongoing expertise and tireless contribution in this area of the life of our church. Signed by the church wardens: Andrew Lewis Pippa Reid - - A6 **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2023 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 2023** In March the Deanery met at Christ Church Cockfosters for a lent music devotion. ## **July 2023** In July the Deanery met at St Peter and St Paul to consider the subject of ‘being a more effective deanery.’ ## **Nov 2023** In November the Deanery met at St Alphege with guest speaker Katy Lysak (‘An introduction to the Grow Course’). - - A7 ## **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2023 SAFEGUARDING REPORT** Over the course of 2023 the PCC reaffirmed 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 continued 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. - - A8 ||Trustees
Treasurer
Administrator|Treasurer|Treasurer|Treasurer|Treasurer|Treasurer
Bookkeeper|Wardens
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.|Cash counted by two
non-related people,
recorded in log book.|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 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|Treasurer
Vicar
Wardens|Last update: 6thFebruary 2024| |---|---|---|---|---|---|---|---| |**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.|Difficult in practice.|| |**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.|Awareness of any developments
which might lead to this event.|| ||3|2|9|6|4|9|| |**Risk**
**rating**|||||||| ||||||||| ||3:1|2:1|3:3|2:3|4:1|3:3|| |**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)|Finances impacted by impaired
relationship with CofE|| ||11|12|13|14|15|16|| - - A10 ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report Report to the trustees:** St Thomas Church Oakwood **On accounts for the year** 31 December 2023 **Ended:** |**Charity no:**
1129369|| |---|---| |**Responsibilities and basis of report**|I report to the trustees on my
examination of the accounts of the
above charity (“the Trust”) for the
year ended 31/12/2023.
As the charity's trustees, you are
responsible for the preparation of the
accounts in accordance with the
requirements of the Charities Act
2011 (“the Act”).
I report in respect of my examination of the
Trust’s accounts 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 have completed my examination. I confirm
that no material matters have come to my
attention in connection with the examination
(other than that disclosed below *) which
gives me cause to believe that in, any
material respect:
•
the accounting records were not kept in
accordance with section 130of the
Charities Act; or
•
the accounts did not accord with the
accounting records; or
•
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| - - A11 ||‘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.| |---|---| |**Name**|Clive Makombera| |**Signed**|| |**Date**|30thApril 2024| |**Address**|20 Stratfield Park Close, London, N21 1BU| ## **Section B: Disclosures** In line with the Charity Commissions, Public Benefit requirement, the Trustees should consider including a summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. The ruling of the General Synod on blessing same sex marriage is referred to in the annual report. The Trustees should continue to review that position and its impact on membership and finances etc. and develop strategies/options as the situation develops. The Trustees are responsible for the overseeing of the risks faced by the Charity. Consideration should be given to explaining how risks have been reviewed during the course of the year. In terms of governance, Trustees should consider whether relevant policies and procedures are in place and whether these are suitably reviewed and complied with to ensure that the charity is complaint with relevant legislation. Consider explanation in the notes of accounts on the movement of some balances vs prior year. This would aid the readers understanding of the accounts. Consider testing the market on the use of suppliers for various services to ensure that the charity receives value for money. Review accruals vs actual expenses when realized to ensure there is no duplication. - - A12 ## **Accounting Framework** The Financial Statements of the PCC have been prepared using the accruals accounting basis in accordance with the following: - Charities Act 2011, as amended by the Charities Act 2022 - 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 ## **Accounts of St Thomas Church Oakwood** ## **1st January 2023 to 31st December 2023** ## **Statement of Financial Activities** |**Statement of Financial Activities**||||||| |---|---|---|---|---|---|---| ||||||**2023**|**2022**| ||**Unrestricted**|**Designated**|**Restricted**|**Endowment**|**Total**|**Total**| |**Income and endowments**||||||| |Donations and legacies|172,158|-|35,812|-|207,970|187,475| |Charitable activities|747|-|-|-|747|536| |Other trading activities|3,958|89,174|632|-|93,764|88,252| |Investments|-|-|3,040|-|3,040|735| |**Total - Income and endowments**|**176,863**|**89,174**|**39,484**|**-**|**305,521**|**276,998**| |**Expenditure**||||||| |Support for charitable activities|11,612|9,678|427|-|21,717|21,682| |Charitable activities|76,581|125,294|34,602|-|236,477|254,109| |**Total - Expenditure**|**88,193**|**134,972**|**35,029**|**-**|**258,194**|**275,791**| |**Investment assets**||||||| |Gains /(losses)on investment assets|-|-|-|-|-|-| |**Net income /(expenditure) before transfers**|**88,670**|**(45,798)**|**4,455**|**-**|**47,327**|**1,207**| |**Transfers**||||||| |Gross transfers between funds - in|2,058|134,211|74|-|136,343|42,085| |Gross transfers between funds - out|(133,261)|-|(3,082)|-|(136,343)|(42,085)| |**Net movement in cash funds**|**(42,533)**|**88,413**|**1,447**|**-**|**47,327**|**1,207**| |**Other recognised gains / (losses)**||||||| |ReRevaluation of fixed assets|-|-|-|-|-|75,000| |**Net movement in funds**|**(42,533)**|**88,413**|**1,447**|**-**|**47,327**|**76,207**| |||||||| |**Total funds brought forward**|**1,161,340**|**55,476**|**21,710**|**-**|**1,238,526**|**1,162,319**| |Net movement in funds|(42,533)|88,413|1,447|-|47,327|76,207| |**Total funds carried forward**|**1,118,807**|**143,889**|**23,157**|**-**|**1,285,853**|**1,238,526**| ## **Balance Sheet** |**Balance Sheet**|||| |---|---|---|---| ||**As at 31st December**|**2023**|**2022**| |||**Total**|**Total**| |**Fixed assets**|||| ||Tangible assets|1,100,000|1,100,000| ||Investments|-|53,937| |||**1,100,000**|**1,153,937**| |**Current assets**|||| ||Cash at bank and in hand|123,604|58,959| ||Investments|78,265|22,054| ||Debtors|9,220|9,419| |||**211,089**|**90,432**| |**Current liabilities**|||| ||Creditors: Amounts falling due within one year|-|-| ||Provision for liabilities due within one year|25,236|5,843| |||**25,236**|**5,843**| |**Net current assets less current liabilities**||**185,853**|**84,589**| |**Net total assets less total liabilities**||**1,285,853**|**1,238,526**| - - B2 ## **Accounts of St Thomas Church Oakwood** ## **1st January 2023 to 31st December 2023** |**Represented by**||||| |---|---|---|---|---| |||**As at 31st December**|**2023**|**2022**| ||||**Total**|**Total**| |**General fund**||||| |U-GNRLF|General fund - buildings||1,100,000|1,100,000| |U-GNRL|General fund - cash||18,807|61,340| |**Designated funds**||||| |D-COMM|Common Fund||82,679|-| |D-MIND|Ministry Staff||-|7,614| |D-WKND|Church Weekend Away||2,378|1,390| |D-CHAR|Charities and Missions||4,175|4,600| |D-SMPE|St Matthew's Ponders End||20,000|-| |D-MSGR|Short Term Mission Grants||1,349|1,349| |D-LGCY|Legacies||537|537| |D-CFRD|Church Building Maintenance||3,882|16,923| |D-HFGH|Halls, Flat and Guide Hut||18,920|15,704| |D-CRTH|Curthwaite Gardens||1,530|876| |D-GERR|Gerrards Close||3,242|1,956| |D-VCRG|Vicarage||5,197|4,527| |**Restricted funds**||||| |R-CURA|Curate||-|-| |R-MINR|Ministry Staff||30|4,607| |R-YTHW|Youth Workers||-|551| |R-TOMS|St Thomas' Church Fund||6,130|1,894| |R-SMPE|St Matthew's Ponders End||201|-| |R-EVAN|Evangelism||1,921|1,921| |R-HCFC|@toms and Holiday Club||28|1,192| |R-YGRP|Youth Group||-|-| |R-HARD|Hardship||13,880|2,880| |R-MEMB|Members' Fund||455|797| |R-CONF|Conference Fund||500|500| |R-CFRR|Church Building Maintenance||-|7,368| |R-CROS|Crosslinks||-|-| |R-LEPR|Leprosy Mission||-|-| |R-FUND|Fundraising events||12|-| |R-INTR|Bank interest||-|-| |**Funds of the church**|||**1,285,853**|**1,238,526**| ## **Approved by the Parochial Church Council on** ## **And signed on its behalf by** **Chairman** ## 2nd May 2024 **----- Start of picture text -----**
Member
**----- End of picture text -----**
- - B3 **Accounts of St Thomas Church Oakwood** ## **1st January 2023 to 31st December 2023** ## **Detailed Balance Sheet** |**Detailed Balance Sheet**|||||| |---|---|---|---|---|---| |||**As at 31st**|**December**|**2023**|**2022**| |||||**Total**|**Total**| |**Fixed assets**|||||| |7ACUR|22 Curthwaite Gardens|||750,000|725,000| |7AGER|7 Gerrards Close|||350,000|375,000| |7AHFGH|Halls, flat and guide hut|||-|-| |UNITED24|United Trust Bank October 2024|||-|53,937| ||**Total - Fixed assets**|||**1,100,000**|**1,153,937**| |**Current assets**|||||| |CASH|Cash in hand|||100|100| |HSBC|HSBC|||73,504|38,859| |CBFDEP|CBF Deposit Fund|||50,000|20,000| |UNITED23|United Trust Bank May 2023|||-|22,054| |UNITED524|United Trust Bank May 2024|||22,252|-| |UNITED24|United Trust Bank October 2024|||56,013|-| |ZHMRC|HMRC Gift Aid claimed|||7,003|6,599| |Z05|Other debtors|||220|-| |ZPREPAY|Prepayments|||1,997|2,820| ||**Total - Current assets**|||**211,089**|**90,432**| |**Current liabilities**|||||| |Z04|Creditors: Amounts falling due within one year|||-|-| |9AACCRUE|Provision for liabilities due within one year|||25,236|5,843| ||**Total - Current liabilities**|||**25,236**|**5,843**| |**Net total assets less total liabilities**||||**1,285,853**|**1,238,526**| |**Reserves**|||||| ||**Starting balances**|||**1,238,526**|**1,162,319**| ||Surplus / (deficit)|||47,327|1,207| ||Other gains / (losses)|||-|75,000| ||**Total reserves**|||**1,285,853**|**1,238,526**| |**Represented by**|||||| ||**Assets**||**Liabilities**|**2023**|**2022**| ||**Fixed**|**Current**|**Current**|**Total**|**Total**| |Unrestricted|1,100,000|20,000|1,193|1,118,807|1,161,340| |Designated|-|167,932|24,043|143,889|55,476| |Restricted|-|23,157|-|23,157|21,710| |Endowment|-|-|-|-|-| |**Total**|**1,100,000**|**211,089**|**25,236**|**1,285,853**|**1,238,526**| - - B4 ## **Accounts of St Thomas Church Oakwood** ## **1st January 2023 to 31st December 2023** ## **Income and Expenditure** ||||||**2023**|**2022**| |---|---|---|---|---|---|---| ||**Unrestricted**|**Designated**|**Restricted**|**Endowment**|**Total**|**Total**| |**Income and endowments**||||||| |**Donations and legacies**||||||| |3APlanned giving|138,000|-|11,520|-|149,520|121,720| |3AEnvelope Scheme|3,869|-|104|-|3,973|4,698| |3ACash collections|2,010|-|-|-|2,010|2,132| |3ASpecial collections|-|-|2,130|-|2,130|-| |3A
- Gift Aid income|25,014|-|2,608|-|27,622|24,732| |3BDonations|2,890|-|18,902|-|21,792|28,160| |3BLegacies|-|-|-|-|-|210| |3BLondon Good Stewards Trust|-|-|480|-|480|-| |3B
- Gift Aid income|375|-|68|-|443|5,823| |**Total - Donations and legacies**|**172,158**|**-**|**35,812**|**-**|**207,970**|**187,475**| |**Charitable activities**||||||| |3CStatutoryFees|747|-|-|-|747|536| |**Total - Charitable activities**|**747**|**-**|**-**|**-**|**747**|**536**| |**Other trading activities**||||||| |3CHalls, flat and guide hut income|-|70,274|-|-|70,274|63,955| |3CRent from 22 Curthwaite Gardens|-|18,900|-|-|18,900|18,600| |3CRent from 7 Gerrards Close|-|-|-|-|-|-| |3CSundry Receipts|3,812|-|632|-|4,444|5,441| |3DOther FundraisingActivities|146|-|-|-|146|256| |**Total - Other trading activities**|**3,958**|**89,174**|**632**|**-**|**93,764**|**88,252**| |**Investments**||||||| |3EInterest on CBF deposit account|-|-|765|-|765|133| |3EInterest on United Trust Bank|-|-|2,275|-|2,275|602| |**Total - Investments**|**-**|**-**|**3,040**|**-**|**3,040**|**735**| |||||||| |**Total - Income and endowments**|**176,863**|**89,174**|**39,484**|**-**|**305,521**|**276,998**| |**Expenditure**||||||| |**Support for charitable activities**||||||| |**Staff**||||||| |4A
Parish Administrator (church)|8,627|-|-|-|8,627|8,127| |2H
Parish Administrator (halls)|-|8,627|-|-|8,627|8,127| |4A
Employer pension contribution (church)|165|-|-|-|165|150| |2H
Employer pension contribution (halls)|-|165|-|-|165|150| |**Other expenses**||||||| |4A
Accountancy costs|75|-|-|-|75|75| |4B
Office telephone (church)|376|-|-|-|376|411| |2H
Office telephone (halls)|-|376|-|-|376|411| |4B
Printing postage and stationery|1,031|-|-|-|1,031|1,478| |4A
Sundry expenses (church)|1,338|-|427|-|1,765|1,938| |2H
Sundryexpenses(halls)|-|510|-|-|510|815| |**Total - Support for charitable activities**|**11,612**|**9,678**|**427**|**-**|**21,717**|**21,682**| - - B5 ## **Accounts of St Thomas Church Oakwood** ## **1st January 2023 to 31st December 2023** |||||||**2023**|**2022**| |---|---|---|---|---|---|---|---| |||**Unrestricted**|**Designated**|**Restricted**|**Endowment**|**Total**|**Total**| |**Charitable activities**|||||||| |**Staff**|||||||| |4A|Common Fund|7,321|-|-|-|7,321|85,200| |4A|Vicar's expenses|283|-|-|-|283|170| |4A|Curate expenses|-|2,690|522|-|3,212|-| |4A|Church music|4,735|-|-|-|4,735|6,814| |4A|Pastoral coordinator|-|18,233|525|-|18,758|18,682| |4A|- employer pension contributions|-|325|30|-|355|324| |4A|Youth workers|32,382|5,113|21,653|-|59,148|39,647| |4A|- employer pension contributions|750|153|611|-|1,514|1,163| |4A|National Insurance|3,275|-|-|-|3,275|1,804| |**Mission**|||||||| |4C|St Matthew's Ponders End|-|-|579|-|579|-| |4C|Crosslinks|-|4,000|700|-|4,700|5,075| |4C|Friends International|-|1,000|-|-|1,000|1,000| |4C|Leprosy Mission|-|500|-|-|500|562| |4C|Mahalir Aran Trust|-|2,125|-|-|2,125|7,250| |4C|OMF International|-|2,000|-|-|2,000|2,263| |4C|Pathway|-|1,500|-|-|1,500|563| |4C|Release International|-|1,000|-|-|1,000|1,000| |4C|Woodberry Recovery|-|2,000|-|-|2,000|2,125| |4C|Other charitable giving|12,000|200|370|-|12,570|400| |**Buildings**|||||||| |4A|Church building (insurance)|4,669|-|-|-|4,669|4,229| |2H|Halls, flat and guide hut (insurance)|-|2,693|-|-|2,693|2,448| |4A|Church building (maintenance)|-|19,041|7,368|-|26,409|31,008| |2H|Halls, flat and guide hut (maintenance)|78|29,269|-|-|29,347|7,391| |4A|22 Curthwaite Gardens|393|96|-|-|489|1,204| |4A|7 Gerrards Close|250|6,464|-|-|6,714|744| |4A|Vicarage|-|80|-|-|80|108| |**Utilities**|||||||| |4A|Energy (church building)|5,602|-|-|-|5,602|4,764| |2H|Energy (halls, flat and guide hut)|-|12,175|-|-|12,175|8,470| |2H|Water|-|796|-|-|796|1,845| |4A|Water (vicarage)|447|-|-|-|447|401| |**Other**|**expenses**||||||| |4A|Church weekend away|-|200|-|-|200|929| |4A|Cleaning (church building and grounds)|2,120|-|-|-|2,120|1,970| |2H|Cleaning (halls, guide hut and grounds)|-|12,581|-|-|12,581|10,016| |2H|Flat facilities|-|848|-|-|848|976| |4A|Outreach|42|-|-|-|42|976| |4A|Parochial Fees|25|-|-|-|25|-| |4A|Publicity|636|-|-|-|636|431| |4A|Sanctuary requisites|-|-|-|-|-|212| |4A|Study resources|-|-|-|-|-|9| |4A|Youth and children's work|1,573|212|2,244|-|4,029|1,936| |**Total - Charitable activities**||**76,581**|**125,294**|**34,602**|**-**|**236,477**|**254,109**| ||||||||| |**Total - Expenditure**||**88,193**|**134,972**|**35,029**|**-**|**258,194**|**275,791**| - - B6 ## **Accounts of St Thomas Church Oakwood** ## **1st January 2023 to 31st December 2023** ## **Fund movement** ||**Open**|**Income**|**Expenditure**|**Transfers**|**Revaluation**|**Close**| |---|---|---|---|---|---|---| |**General fund (unrestricted)**||||||| |U-General fund - buildings|1,100,000|-|-|-|-|1,100,000| |U-General fund - cash|61,340|176,863|88,193|(131,203)|-|18,807| |**Total - General fund**|**1,161,340**|**176,863**|**88,193**|**(131,203)**|**-**|**1,118,807**| |**Designated funds (unrestricted)**||||||| |D-Common Fund|-|-|-|82,679|-|82,679| |D-Ministry Staff|7,614|18,900|26,514|-|-|-| |D-Church Weekend Away|1,390|-|412|1,400|-|2,378| |D-Charities and Missions|4,600|-|14,325|13,900|-|4,175| |D-St Matthew's Ponders End|-|-|-|20,000|-|20,000| |D-Short Term Mission Grants|1,349|-|-|-|-|1,349| |D-Legacies|537|-|-|-|-|537| |D-Church Building Maintenance|16,923|-|19,041|6,000|-|3,882| |D-Halls, Flat and Guide Hut|15,704|70,274|68,040|982|-|18,920| |D-Curthwaite Gardens|876|-|96|750|-|1,530| |D-Gerrards Close|1,956|-|6,464|7,750|-|3,242| |D-Vicarage|4,527|-|80|750|-|5,197| |**Total - Designated funds**|**55,476**|**89,174**|**134,972**|**134,211**|**-**|**143,889**| |**Restricted funds**||||||| |R-Curate|-|-|-|-|-|-| |R-Ministry Staff|4,607|12,879|17,446|(10)|-|30| |R-Youth Workers|551|787|1,380|42|-|-| |R-TSt Thomas' Church Fund|1,894|7,000|2,764|-|-|6,130| |R-St Matthew's Ponders End|-|780|579|-|-|201| |R-Evangelism|1,921|-|-|-|-|1,921| |R-@toms and Holiday Club|1,192|1,080|2,244|-|-|28| |R-Youth Group|-|-|-|-|-|-| |R-Hardship|2,880|11,000|-|-|-|13,880| |R-Members' Fund|797|85|427|-|-|455| |R-Conference Fund|500|-|-|-|-|500| |R-Church Building Maintenance|7,368|-|7,368|-|-|-| |R-Crosslinks|-|563|563|-|-|-| |R-Leprosy Mission|-|-|-|-|-|-| |R-Fundraising events|-|2,270|2,258|-|-|12| |R-Bank interest|-|3,040|-|(3,040)|-|-| |**Total - Restricted funds**|**21,710**|**39,484**|**35,029**|**(3,008)**|**-**|**23,157**| |||||||| |**Total funds**|**1,238,526**|**305,521**|**258,194**|**-**|**-**|**1,285,853**| - - 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). - (ii) Youth Workers – 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 – 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) Common Fund – used to hold money designated to pay Common Fund contributions. - (v) Conference Fund – used to make attendance of training events affordable. - (vi) Crosslinks – receives restricted donations throughout the year which are paid at year end. - - (vii) Evangelism used to pay for additional evangelism. - - (viii) Fundraising Events receives income from fundraising events. - - (ix) @toms and Holiday Club receives donations and covers expenditure at @toms, the Easter Holiday Club and other children’s outreach events. - - (x) Hardship used to help members of the church who are in financial need. - - (xi) Legacies receives gifts in memory of deceased individuals and funds are spent on ‘lasting impact’ projects. - - (xii) Leprosy Mission receives restricted donations throughout the year which are paid at year end. - (xiii) Members’ Fund – receives surpluses and covers deficits at church events. - (xiv) Short Term Mission Grants – used to encourage and subsidise church members taking part in short term gospel mission. - (xv) St Matthew’s Ponders End – used for the ministry at St Matthew’s Ponders End. - (xvi) St T homas’ Church Fund – used for the ministry at St Thomas, including paying staff and maintaining the premises. - - (xvii) Youth Group used to pay for youth group activities. - - B8 ## **Guidelines and Controls** ## **a) Investment 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. ## **b) Financial controls** - (i) The PCC conducts an annual review of the financial controls, both their documented processes and whether in practice they are operating as stated. - (ii) Last review: January 2024. ## **c) Going concern** - (i) The PCC conducts a semi-annual assessment of the ability to continue as a going concern. - (ii) Salient information is contained in the Financial Review section of the Trustees’ Annual Report. (iii) Last assessment: October 2023. ## **d) Reserves policy** - (i) The PCC aims to keep liquid non-restricted reserves no lower than a level of approximately 3 months’ running costs, currently £50 -75k. - (ii) Non-restricted reserves are calculated as Net Current Assets less Total Restricted Funds. |Net Current Assets
Total Restricted Funds|As at 31stDecember 2023 (£)
185,853
23,157|As at 31stDecember 2022 (£)
84,589
21,710| |---|---|---| |Non-restricted reserves
(of which designated)|162,996
143,889|62,879
55,476| - (iii) The PCC considers regularly the needs of various aspects of ministry and from time to time designates sums from unrestricted funds to the designated funds identified on page B7 with the aim of providing for specific larger or irregular demands. - - B9 ## **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 (except designated funds that have received a fixed sum of money). ## **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. - - B10 ## **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 an online estimate from propertychecker.co.uk. - - (ii) Halls, flat and guide hut the asset is valued on a historical cost less depreciation basis and is now fully depreciated. ## **g) Designations for future expenditure** - - (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) 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. - - 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 £7,321 was paid to the Diocese of London in respect of the Vicar, Richard Alldritt. A further contribution for 2023 of £35,064 has been made in 2024. 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 and Ryan Scott had expenses reimbursed. Expenses totalled £3,943 and were for temporary accommodation, water bills, Council Tax bills and conferences. ## **d) Related party transactions** During 2023, the PCC employed Elsa Maycock, the wife of a trustee. The following payments were made in respect of her employment: |Salaries (£)|17,481| |---|---| |Pension (£)|955| |Expenses (£)|677| |TOTAL (£)|19,113| During 2023, the PCC paid Charlie Alldritt and Ben Lewis, the sons of trustees, £25 and £105 respectively for work done in the church grounds. During 2023, the PCC received donations from trustees and close relatives totalling £61,755. ## **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 (£)|99,356| |---|---| |Pension contributions (£)|5,257| |Staff expenses (£)|3,623| |Volunteerworkers’ expenses (£)|-| |Contract expenses (£)|-| |Indirect expenses (£)|-| |TOTAL (£)|108,236| - (ii) The average head count during the accounting period was 5. - (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, CEEC, Chipping Barnet Foodbank, Christian Aid, Grace Church Upton, London City Mission and Yeni Yasam Fellowship. - (ii) The total amount of grants paid was split as follows: |Long-term mission
Short-term mission
Relief|Institutions (£)
26,700
-
995|Individuals (£)
-
-
-|TOTALS (£)
26,700
-
995| |---|---|---|---| |TOTALS|27,695|-|27,695| ## **i) Agency collections** - (i) £1,298 of Parochial Fees received and paid to the Diocese of London. - (ii) £290 of expenses paid on behalf of staff and collected through payroll. - (iii) £152 collected on behalf of the Nightingale Cancer Support Charity. ## **j) Material events subsequent to the end of the accounting period** - (i) A further Common Fund contribution for 2023 of £35,064 was made. - (ii) A large oak tree fell into the Guide Hut, causing substantial damage. - - B13