**PCC of St Thomas Church Oakwood** **Registered Charity No. 1129369** **Trustees’ Annual Report and Accounts for the year ended 31[st] December 2024** |**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| |**C. Summary Accounts of St Matthew’s Ponders End**|1| ## **Incumbent** ## **Bank** The Reverend Richard Alldritt 2 Sheringham Avenue, Southgate N14 4UE 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 28 April 2025 The Electoral Roll consists of 167 persons, 53 resident in the parish, 114 non-resident. ChrisGna Mateides - - A1 **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2024 PAROCHIAL CHURCH COUNCIL (‘PCC’) OF ST THOMAS OAKWOOD** ## **Aims & Purposes** The PCC has the responsibility of co-operaGng with the incumbent, the Revd Richard AlldriM in promoGng the gospel of the Lord Jesus Christ according to the doctrine and pracGces of the Church of England. The PCC has considered the Charity Commission’s guidance on public benefit and, in parGcular, the specific guidance on chariGes 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 creaGve 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 pracGce 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, correcGng, training, rebuking and direcGng us. It also means that we must seek him in prayer, commi_ng all the concerns of the work to him, knowing that he is in charge and wants us to flourish in godly usefulness. ## **Achievements & Performance** Perhaps the most significant encouragement this year has come from the re-launch of St MaMhew’s Ponders End as a church plant from St Thomas (and two other local churches). Jeremy Hobson (along with his family) moved into Ponders End in the summer as the planGng minister, and the church opened again for public worship in December with 120 people aMending the launch service. We’ve been grateful for a number of new professions of faith and bapGsms since then, and we conGnue to pray for the long term establishment of a new gospel community in the Ponders End area. This year we launched the ‘Discover course’ as a key plank in our outreach strategy and have been encouraged with the number of people who have gone through the course exploring the ChrisGan faith. We conGnued to run a full programme of outreach acGviGes: including our annual Easter Holiday Club (‘Jungle Safari’), our weekly aber school club and toddler groups as well as our monthly door to door ministry. We enjoyed a very encouraging Christmas season with large numbers of guests and visitors. Over the summer a team from the church family went to India to visit our mission partners Mercy and Vinci at the Mahalir Aran Trust. The trip was a fantasGc experience for all who went, and (we trust) served to grow our partnership with the ministry in Tamil Nadu. The clear explanaGon of the Bible conGnued to be central to all of our meeGngs (whether Sunday or midweek). Over 2024 we followed Luke’s account of the early church in Acts 12-18, we explored various Psalms both on the run up to Christmas and Easter, as well considering the upside down wisdom and power of the cross from the early chapters of Paul’s first leMer to the church in Corinth. We enjoyed a ‘weekend at home’ together looking at 3 John together. We also launched a monthly ‘adult Sunday school’ (‘Joining the Dots’). We said goodbye to Hannah (our Female Pastoral worker) in the summer following her move to Northampton. We welcomed Sandrine and Robert to the team in September. - - A2 We conGnue to be very thankful for the dedicaGon, 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 aber-school and pre-school ministries during the week, as well as the various pracGcal aspects of running a church. ## **Financial Review** Total funds: Total cash funds rose to £227k (2023: £185k). An increase in giving and reducGon in staff costs and maintenance costs more than covered a catch-up and resumpGon of Common Fund contribuGons, and St MaMhew’s Ponders End expenditure. (Common Fund contribuGons are calculated to cover the costs of the vicar. £30k that would have been paid to the Common Fund has been designated for use at St MaMhew’s Ponders End.) General Fund: Unrestricted income rose again to £192k (2023: £177k), as donaGons increased to £187k (2023: £172k). The following significant amounts were designated: - (i) Just over £50k was transferred to the designated fund for Common Fund, to cover the expected contribuGons for 2025. - (ii) £30k was transferred to a new designated fund for St MaMhew’s Ponders End. - (iii) £17k was transferred to the ChariGes and Missions Fund to honour the commitment to give 10% of unrestricted regular giving to various chariGes and missions. - (iv) £8k was transferred to building funds. Underlying General Fund expenditure fell to £51k (2023: £81k) due to reduced staff costs. Over the course of 2024, the General Fund balance rose from £19k to £58k. Staf funds: Regular monthly expenditure exceeds the regular monthly income that is restricted to these funds. However, one-off gibs leb total end of year balances at £12k (2023: £6k). Building funds: A reduced number of significant repairs leb total end of year balances at £49k (2023: £33k). The major items of expenditure were: - (i) £22k to refit the church kitchen. - (ii) £5k replacing windows in the Guide Hut. - (iii) £6k was recovered as finishing the coping stones’ repairs did not incur the full expected cost. St MaMhew’s Ponders End: In addiGon to the £30k designated to St MaMhew’s Ponders End, a total of £24k of restricted grants were received. Against this, expenditure totalled £45k. ## **Reserves Policy** The treasurer, together with the PCC, conGnually monitor the levels of funds available to ensure that ministry is adequately resourced, in parGcular 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 informaGon on reserves can be found in the notes to the accounts (SecGon B8.5 – Guidelines and Controls). ## **Plans for Future Periods** There are a number of specific items for prayer in 2025: - - A3 - We have a church away day planned for July, which promises to be a great opportunity to spend some extended Gme 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. - We are running another ‘Discover’ course aber Easter, and pray that the Lord might use that to bring new life in Oakwood. - We are currently reflecGng on our arrangements going forward in terms of best promoGng our one another-ing and welcome aber the service on a Sunday. - We are exploring possible ways forward in terms of our music ministry which has been volunteer led over the last year or so. - We are in the early stages of planning towards the launch of a community cafe on a Wednesday abernoon aber the lunchGme service. - There is conGnued uncertainty in the wider church following the introducGon of the prayers of love and faith. Since February 2023, the ‘Alliance’ (represenGng orthodox churches across the networks and tradiGons) have been asking the bishops to provide alternaGve structural provisions to enable orthodox churches to conGnue ministering with a clear conscience in the Church of England. To date no such provisions have been made. In the meanGme many churches are in a posiGon 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 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, operaGng 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 RepresentaGon 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 meeGngs during the year together. In addiGon, the PCC operates through a number of commiMees which meet between full meeGngs of the PCC and report back to it. The standing commiMee - consisGng of Vicar, Churchwardens, PCC Vice-Chairman, PCC Secretary and Treasurer - did not meet during 2023. The Finance and General Purposes CommiMee met 4 Gmes during the year in order to consider maMers in relaGon to the finance and fabric of the church, including maintaining of our health & safety policy, agreeing staff pay rates, and se_ng rates for Hall hire, and other fees at the discreGon of the PCC. ## **Administrative information** St Thomas is situated in Oakwood, North London. The correspondence address is the Parish Administrator, Parish Office, St Thomas Church, Oakwood, London, N14 4SN. Registered Charity No. 1129369. During the year, the following served as members of the PCC:- - - A4 **Ex-officio members: Incumbent:** Richard Alldritt (Chairman) **Churchwardens:** Andrew Lewis & Pippa Reid **Deanery Synod:** Charles Maycock,[2] Andy Reid, Mohan Yogendran **Elected members[1]** Janelle Budinski Hannah Giles Chris Goodlad (Treasurer) Jenny Hammond (Secretary)[2] Innocent Izamoje[3] Liz Maggs[4] Harriet Mitchell Duncan Njoroge[3] Elliot Owen[3] Stella Roberts Ronke Omotoso[3] Richard Stones **Notes:** 1 Based on our current electoral roll figures, the maximum number of elected representatives is 12. 2 until May 2024 3 from May 2024 4 until December 2024 (having joined St Matthew’s Ponders End) Independent examiner: Clive Makombera Adopted by the PCC on 28 April 2025, and signed by the Chairman: Richard Alldritt Vicar, St Thomas Oakwood - - A5 **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2024 CHURCH FABRIC, GOODS & ORNAMENTS** ## **Church Fabric** Three main project undertaken over the course of the year: - We updated the church kitchen in order to comply with hygiene regulaGons and to enable events to be held more easily in the church. - There was also a large project on the Guide Hut triggered by the damage caused by a large tree falling on the roof. - A number of coping stones were replaced on the main church roof. In addiGon, a number of smaller projects and regular items have been completed including: - The fire exGnguishers were inspected and serviced. - The lightning conductor was inspected and tested. - The annual gas and fire services took place. ## **Insurance** The church and its contents conGnue to be adequately insured with ‘CongregaGonal 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 conGnue to make sure that the church grounds and premises are safe and well maintained. ParGcular thanks goes to John Baxter for his ongoing experGse and Greless contribuGon in this area of the life of our church, as well as Stella Roberts who is central to many of the projects undertaken. Signed by the church wardens: Andrew Lewis Pippa Reid - - A6 ## **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2024 DEANERY SYNOD REPORT** The Deanery Synod normally meets three Gmes during the year; meeGngs are open to all members of the Anglican churches in Enfield. ## **February 2024** In February the Deanery met at Christchurch Southgate for a lenten reflecGon. ## **July 2024** In July the Deanery met at St Stephen Bush Hill Park for a summer party. ## **Nov 2024** In November the Deanery met at St Stephen Bush Hill Park to discuss the diocesan 'Growing Younger’ agenda. - - A7 ## **ANNUAL REPORT FOR YEAR ENDED 31[ST] DECEMBER 2024 SAFEGUARDING REPORT** Over the course of 2024 the PCC reaffirmed our Child ProtecGon 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 conGnued using the new Safeguarding Dashboard system working towards the various goals and acGons; a full acGon plan has been approved, and the PCC have been updated at each meeGng. - - 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: 12thMarch 2025
Next review: September 2025| |---|---|---|---|---|---|---|---| |**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 2024 **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 31/12/2024.
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 130 of 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**|25thApril 2025| |**Address**|20 Stratfield Park Close, London, N21 1BU| ## **Section B: Disclosures** The Charities and Missions Fund ended 2024 with £6,000 unspent funds. The Trustees should endeavor to put such funds to use in line with the objectives of St Thomas Oakwood. The Trustees should consider adding a safeguarding risk to the risk register and review whether suitable controls and mitigations are in place. In terms of governance, Trustees should consider whether relevant policies and procedures are in place e.g. data protection, finances, HR etc. and whether these are suitably reviewed and complied with to ensure that the charity is complaint with relevant legislation. Commentary should be included in the Trustees report. - - 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 2024 to 31st December 2024** ## **Statement of Financial Activities** |**Statement of Financial Activities**||||||| |---|---|---|---|---|---|---| ||||||**2024**|**2023**| ||**Unrestricted**|**Designated**|**Restricted**|**Endowment**|**Total**|**Total**| |**Income and endowments**||||||| |Donations and legacies|187,738|11,426|50,211|-|249,375|207,970| |Charitable activities|377|-|-|-|377|747| |Other trading activities|3,623|86,645|4,117|-|94,385|93,764| |Investments|-|-|5,470|-|5,470|3,040| |**Total - Income and endowments**|**191,738**|**98,071**|**59,798**|**-**|**349,607**|**305,521**| |**Expenditure**||||||| |Support for charitable activities|14,166|10,041|3,627|-|27,834|21,717| |Charitable activities|36,633|204,723|38,879|-|280,235|236,477| |**Total - Expenditure**|**50,799**|**214,764**|**42,506**|**-**|**308,069**|**258,194**| |**Investment assets**||||||| |Gains / (losses) on investment assets|-|-|-|-|-|-| |**Net income / (expenditure) before transfers**|**140,939**|**(116,693)**|**17,292**|**-**|**41,538**|**47,327**| |**Transfers**||||||| |Gross transfers between funds - in|6,484|124,985|1,088|-|132,557|136,343| |Gross transfers between funds - out|(107,948)|(19,139)|(5,470)|-|(132,557)|(136,343)| |**Net movement in cash funds**|**39,475**|**(10,847)**|**12,910**|**-**|**41,538**|**47,327**| |**Other recognised gains / (losses)**||||||| |ReRevaluation of fixed assets|(30,000)|-|-|-|(30,000)|-| |**Net movement in funds**|**9,475**|**(10,847)**|**12,910**|**-**|**11,538**|**47,327**| |||||||| |**Total funds brought forward**|**1,118,807**|**143,889**|**23,157**|**-**|**1,285,853**|**1,238,526**| |Net movement in funds|9,475|(10,847)|12,910|-|11,538|47,327| |**Total funds carried forward**|**1,128,282**|**133,042**|**36,067**|**-**|**1,297,391**|**1,285,853**| ## **Balance Sheet** ## **Fixed assets** ## **Current assets** ## **Current liabilities** **Net current assets less current liabilities** |**As at 31st December**|**2024**|**2023**| |---|---|---| ||**Total**|**Total**| |Tangible assets|1,070,000|1,100,000| |Investments|23,185|-| ||**1,093,185**|**1,100,000**| |Cash at bank and in hand|138,473|123,604| |Investments|58,188|78,265| |Debtors|13,285|9,220| ||**209,946**|**211,089**| |Creditors: Amounts falling due within one year|-|-| |Provision for liabilities due within one year|5,740|25,236| ||**5,740**|**25,236**| ||**204,206**|**185,853**| ||**1,297,391**|**1,285,853**| **Net total assets less total liabilities** - - B2 **Accounts of St Thomas Church Oakwood** ## **1st January 2024 to 31st December 2024** |**Represented by**||||| |---|---|---|---|---| |||**As at 31st December**|**2024**|**2023**| ||||**Total**|**Total**| |**General fund**||||| |U-GNRLF|General fund - buildings||1,070,000|1,100,000| |U-GNRL|General fund - cash||58,282|18,807| |**Designated funds**||||| |D-COMM|Common Fund||50,310|82,679| |D-MIND|Ministry Staff||-|-| |D-WKND|Church Weekend Away||646|2,378| |D-CHAR|Charities and Missions||6,125|4,175| |D-SMPE|St Matthew's Ponders End||24,416|20,000| |D-MSGR|Short Term Mission Grants||1,349|1,349| |D-LGCY|Legacies||1,226|537| |D-CFRD|Church Building Maintenance||11,426|3,882| |D-HFGH|Halls, Flat and Guide Hut||26,714|18,920| |D-CRTH|Curthwaite Gardens||1,361|1,530| |D-GERR|Gerrards Close||3,628|3,242| |D-VCRG|Vicarage||5,841|5,197| |**Restricted funds**||||| |R-CURA|Curate||-|-| |R-MINR|Ministry Staff||354|30| |R-YTHW|Youth Workers||-|-| |R-TOMS|St Thomas' Church Fund||12,320|6,130| |R-SMPE|St Matthew's Ponders End||7,189|201| |R-EVAN|Evangelism||1,921|1,921| |R-HCFC|@toms and Holiday Club||-|28| |R-YGRP|Youth Group||125|-| |R-HARD|Hardship||12,630|13,880| |R-MEMB|Members' Fund||653|455| |R-CONF|Conference Fund||500|500| |R-CFRR|Church Building Maintenance||375|-| |R-CROS|Crosslinks||-|-| |R-LEPR|Leprosy Mission||-|-| |R-MAHA|Mahalir Aran Trust||-|-| |R-FUND|Fundraising events||-|12| |R-INTR|Bank interest||-|-| |**Funds of the church**|||**1,297,391**|**1,285,853**| ## **Approved by the Parochial Church Council on** 28 April 2025 ## **And signed on its behalf by** **Member** **Chairman** - - B3 **Accounts of St Thomas Church Oakwood** ## **1st January 2024 to 31st December 2024** ## **Detailed Balance Sheet** |**Detailed Balance Sheet**|||||| |---|---|---|---|---|---| |||**As at 31st**|**December**|**2024**|**2023**| |||||**Total**|**Total**| |**Fixed assets**|||||| |7ACUR|22 Curthwaite Gardens|||730,000|750,000| |7AGER|7 Gerrards Close|||340,000|350,000| |7AHFGH|Halls, flat and guide hut|||-|-| |UNITED526|United Trust Bank May 2026|||23,185|-| ||**Total - Fixed assets**|||**1,093,185**|**1,100,000**| |**Current assets**|||||| |CASH|Cash in hand|||100|100| |HSBC|HSBC|||88,373|73,504| |CBFDEP|CBF Deposit Fund|||50,000|50,000| |UNITED524|United Trust Bank May 2024|||-|22,252| |UNITED24|United Trust Bank October 2024|||-|56,013| |UNITED25|United Trust Bank October 2025|||58,188|-| |ZHMRC|HMRC Gift Aid claimed|||10,983|7,003| |Z05|Other debtors|||-|220| |ZPREPAY|Prepayments|||2,302|1,997| ||**Total - Current assets**|||**209,946**|**211,089**| |**Current liabilities**|||||| |Z04|Creditors: Amounts falling due within one year|||-|-| |9AACCRUE|Provision for liabilities due within one year|||5,740|25,236| ||**Total - Current liabilities**|||**5,740**|**25,236**| |**Net total assets less total liabilities**||||**1,297,391**|**1,285,853**| |**Reserves**|||||| ||**Starting balances**|||**1,285,853**|**1,238,526**| ||Surplus / (deficit)|||41,538|47,327| ||Other gains / (losses)|||(30,000)|-| ||**Total reserves**|||**1,297,391**|**1,285,853**| |**Represented by**|||||| ||**Assets**||**Liabilities**|**2024**|**2023**| ||**Fixed**|**Current**|**Current**|**Total**|**Total**| |Unrestricted|1,075,943|53,473|1,134|1,128,282|1,118,807| |Designated|13,565|124,083|4,606|133,042|143,889| |Restricted|3,677|32,390|-|36,067|23,157| |Endowment|-|-|-|-|-| |**Total**|**1,093,185**|**209,946**|**5,740**|**1,297,391**|**1,285,853**| - - B4 ## **Accounts of St Thomas Church Oakwood** ## **1st January 2024 to 31st December 2024** ## **Income and Expenditure** |**Income and Expenditure**||||||| |---|---|---|---|---|---|---| ||||||**2024**|**2023**| ||**Unrestricted**|**Designated**|**Restricted**|**Endowment**|**Total**|**Total**| |**Income and endowments**||||||| |**Donations and legacies**||||||| |3APlanned giving|149,346|-|11,290|-|160,636|149,520| |3AEnvelope Scheme|3,125|-|122|-|3,247|3,973| |3ACash collections|2,763|-|-|-|2,763|2,010| |3ASpecial collections|-|-|528|-|528|2,130| |3A
- Gift Aid income|25,821|-|2,681|-|28,502|27,622| |3BDonations|6,639|5,355|17,120|-|29,114|21,792| |3BLegacies|-|6,000|-|-|6,000|-| |3BLondon Good Stewards Trust|-|-|15,320|-|15,320|480| |3B
- Gift Aid income|44|71|3,150|-|3,265|443| |**Total - Donations and legacies**|**187,738**|**11,426**|**50,211**|**-**|**249,375**|**207,970**| |**Charitable activities**||||||| |3CStatutoryFees|377|-|-|-|377|747| |**Total - Charitable activities**|**377**|**-**|**-**|**-**|**377**|**747**| |**Other trading activities**||||||| |3CHalls, flat and guide hut income|-|66,245|-|-|66,245|70,274| |3CRent from 22 Curthwaite Gardens|-|20,400|-|-|20,400|18,900| |3CRent from 7 Gerrards Close|-|-|-|-|-|-| |3CSundry Receipts|3,542|-|4,117|-|7,659|4,444| |3DOther FundraisingActivities|81|-|-|-|81|146| |**Total - Other trading activities**|**3,623**|**86,645**|**4,117**|**-**|**94,385**|**93,764**| |**Investments**||||||| |3EInterest on CBF deposit account|-|-|2,362|-|2,362|765| |3EInterest on United Trust Bank|-|-|3,108|-|3,108|2,275| |**Total - Investments**|**-**|**-**|**5,470**|**-**|**5,470**|**3,040**| |||||||| |**Total - Income and endowments**|**191,738**|**98,071**|**59,798**|**-**|**349,607**|**305,521**| |**Expenditure**||||||| |**Support for charitable activities**||||||| |**Staff**||||||| |4A
Parish Administrator (church)|8,991|-|-|-|8,991|8,627| |2H
Parish Administrator (halls)|-|8,991|-|-|8,991|8,627| |4A
Parish Assistant (church)|242|-|902|-|1,144|-| |2H
Parish Assistant (halls)|-|-|-|-|-|-| |4A
Employer pension contribution (church)|176|-|-|-|176|165| |2H
Employer pension contribution (halls)|-|176|-|-|176|165| |**Other expenses**||||||| |4A
Accountancy costs|75|-|-|-|75|75| |4B
Office telephone (church)|232|-|-|-|232|376| |2H
Office telephone (halls)|-|232|-|-|232|376| |4B
Printing postage and stationery|2,155|-|0|-|2,155|1,031| |4A
Sundry expenses (church)|2,295|111|2,725|-|5,131|1,765| |2H
Sundryexpenses (halls)|-|531|-|-|531|510| |**Total - Support for charitable activities**|**14,166**|**10,041**|**3,627**|**-**|**27,834**|**21,717**| - - B5 ## **Accounts of St Thomas Church Oakwood** ## **1st January 2024 to 31st December 2024** |||||||**2024**|**2023**| |---|---|---|---|---|---|---|---| |||**Unrestricted**|**Designated**|**Restricted**|**Endowment**|**Total**|**Total**| |**Charitable activities**|||||||| |**Staff**|||||||| |4A|Common Fund|-|78,540|-|-|78,540|7,321| |4A|Vicar's expenses|992|-|-|-|992|283| |4A|Curate expenses|672|-|1,274|-|1,946|3,212| |4A|Church music|7,645|-|-|-|7,645|4,735| |4A|Pastoral Associate|324|1,199|5,956|-|7,479|-| |4A|- employer pension contributions|113|-|37|-|150|-| |4A|Pastoral coordinator|-|18,855|780|-|19,635|18,758| |4A|- employer pension contributions|-|346|32|-|378|355| |4A|Youth workers|8,045|-|4,437|-|12,482|59,148| |4A|- employer pension contributions|191|-|90|-|281|1,514| |4A|National Insurance|1,387|-|-|-|1,387|3,275| |**Mission**|||||||| |4C|St Matthew's Ponders End|-|27,108|17,477|-|44,585|579| |4C|Crosslinks|-|5,650|563|-|6,213|4,700| |4C|Friends International|-|1,000|-|-|1,000|1,000| |4C|Leprosy Mission|-|500|-|-|500|500| |4C|Mahalir Aran Trust|-|4,400|4,144|-|8,544|2,125| |4C|OMF International|-|2,000|-|-|2,000|2,000| |4C|Pathway|-|500|-|-|500|1,500| |4C|Release International|-|1,000|-|-|1,000|1,000| |4C|Woodberry Recovery|-|3,000|-|-|3,000|2,000| |4C|Other charitable giving|-|400|1,816|-|2,216|12,570| |**Buildings**|||||||| |4A|Church building (insurance)|5,251|-|-|-|5,251|4,669| |2H|Halls, flat and guide hut (insurance)|-|3,435|-|-|3,435|2,693| |4A|Church building (maintenance)|-|20,681|-|-|20,681|26,409| |2H|Halls, flat and guide hut (maintenance)|-|7,235|-|-|7,235|29,347| |4A|22 Curthwaite Gardens|411|919|-|-|1,330|489| |4A|7 Gerrards Close|844|364|-|-|1,208|6,714| |4A|Vicarage|-|106|-|-|106|80| |**Utilities**|||||||| |4A|Energy (church building)|5,227|-|-|-|5,227|5,602| |2H|Energy (halls, flat and guide hut)|-|8,366|-|-|8,366|12,175| |2H|Water|-|1,183|-|-|1,183|796| |4A|Water (vicarage)|453|-|-|-|453|447| |**Other**|**expenses**||||||| |4A|Church weekend away|-|3,032|-|-|3,032|200| |4A|Cleaning (church building and grounds)|3,978|-|-|-|3,978|2,120| |2H|Cleaning (halls, guide hut and grounds)|-|14,738|-|-|14,738|12,581| |2H|Flat facilities|-|166|-|-|166|848| |4A|Outreach|29|-|-|-|29|42| |4A|Parochial Fees|20|-|-|-|20|25| |4A|Publicity|587|-|107|-|694|636| |4A|Sanctuary requisites|40|-|-|-|40|-| |4A|Study resources|268|-|-|-|268|-| |4A|Youth and children's work|156|-|2,166|-|2,322|4,029| |**Total - Charitable activities**||**36,633**|**204,723**|**38,879**|**-**|**280,235**|**236,477**| ||||||||| |**Total - Expenditure**||**50,799**|**214,764**|**42,506**|**-**|**308,069**|**258,194**| - - B6 ## **Accounts of St Thomas Church Oakwood** ## **1st January 2024 to 31st December 2024** ## **Fund movement** ||**Open**|**Income**|**Expenditure**|**Transfers**|**Revaluation**|**Close**| |---|---|---|---|---|---|---| |**General fund (unrestricted)**||||||| |U-General fund - buildings|1,100,000|-|-|-|(30,000)|1,070,000| |U-General fund - cash|18,807|191,738|50,799|(101,464)|-|58,282| |**Total - General fund**|**1,118,807**|**191,738**|**50,799**|**(101,464)**|**(30,000)**|**1,128,282**| |**Designated funds (unrestricted)**||||||| |D-Common Fund|82,679|-|78,540|46,171|-|50,310| |D-Ministry Staff|-|20,400|20,400|-|-|-| |D-Church Weekend Away|2,378|-|3,132|1,400|-|646| |D-Charities and Missions|4,175|3,300|18,250|16,900|-|6,125| |D-St Matthew's Ponders End|20,000|-|27,089|31,505|-|24,416| |D-Short Term Mission Grants|1,349|-|-|-|-|1,349| |D-Legacies|537|6,626|5,937|-|-|1,226| |D-Church Building Maintenance|3,882|1,500|14,956|21,000|-|11,426| |D-Halls, Flat and Guide Hut|18,920|66,245|45,071|(13,380)|-|26,714| |D-Curthwaite Gardens|1,530|-|919|750|-|1,361| |D-Gerrards Close|3,242|-|364|750|-|3,628| |D-Vicarage|5,197|-|106|750|-|5,841| |**Total - Designated funds**|**143,889**|**98,071**|**214,764**|**105,846**|**-**|**133,042**| |**Restricted funds**||||||| |R-Curate|-|-|-|-|-|-| |R-Ministry Staff|30|12,697|12,373|-|-|354| |R-Youth Workers|-|200|200|-|-|-| |R-TSt Thomas' Church Fund|6,130|7,125|935|-|-|12,320| |R-St Matthew's Ponders End|201|24,465|17,477|-|-|7,189| |R-Evangelism|1,921|-|-|-|-|1,921| |R-@toms and Holiday Club|28|1,089|2,205|1,088|-|-| |R-Youth Group|-|375|250|-|-|125| |R-Hardship|13,880|-|1,250|-|-|12,630| |R-Members' Fund|455|350|152|-|-|653| |R-Conference Fund|500|2,391|2,391|-|-|500| |R-Church Building Maintenance|-|375|-|-|-|375| |R-Crosslinks|-|563|563|-|-|-| |R-Leprosy Mission|-|-|-|-|-|-| |R-Mahalir Aran Trust|-|500|500|-|-|-| |R-Fundraising events|12|4,198|4,210|-|-|-| |R-Bank interest|-|5,470|-|(5,470)|-|-| |**Total - Restricted funds**|**23,157**|**59,798**|**42,506**|**(4,382)**|**-**|**36,067**| |||||||| |**Total funds**|**1,285,853**|**349,607**|**308,069**|**-**|**(30,000)**|**1,297,391**| - - 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 Thomas’ 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) Apart from The CBF Church of England Deposit Fund, 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: March 2025. ## **c) Going concern** - (i) The PCC conducts a quarterly 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: March 2025. ## **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 2024 (£)
209,946
32,390|As at 31stDecember 2023 (£)
185,853
23,157| |---|---|---| |Non-restricted reserves
(of which designated)|177,556
124,083|162,996
143,889| - (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 £5,000. ## **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. - - 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: 20% to the church, 70% to the halls and 10% 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 £78,540 was paid to the Diocese of London in respect of the Vicar, Richard Alldritt. This included a contribution for 2023 of £35,064. 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 £3,631 and were for water bills, Council Tax bills and conferences. ## **d) Related party transactions** During 2024, the PCC employed Elsa Maycock, the wife of a trustee. The following payments were made in respect of her employment: |Salaries (£)|18,278| |---|---| |Pension (£)|949| |Expenses (£)|760| |TOTAL (£)|19,987| During 2024, the PCC paid Ben Lewis, the son of a trustee, £20 for work done in the church grounds. During 2024, the PCC received donations from trustees and close relatives totalling £74,040. ## **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 (£)|54,671| |---|---| |Pension contributions (£)|2,777| |Staff expenses (£)|1,155| |Volunteer workers’ expenses (£)|902| |Contract expenses (£)|-| |Indirect expenses (£)|-| |TOTAL (£)|59,505| - (ii) The average head count during the accounting period was 3. - (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, Christian Aid and London City Mission. - (ii) The total amount of grants paid was split as follows: |Long-term mission
Short-term mission
Relief|Institutions (£)
39,581
-
1,066|Individuals (£)
-
-
750|TOTALS (£)
39,581
-
1,816| |---|---|---|---| |TOTALS|40,647|750|41,397| ## **i) Agency collections** - (i) £849 of Parochial Fees received and paid to the Diocese of London. - (ii) £103 of expenses paid on behalf of staff and collected through payroll. - (iii) £234 collected on behalf of the Nightingale Cancer Support Charity. ## **j) Material events subsequent to the end of the accounting period** None - - B13 ## **Accounts of St Matthew's Ponders End** ## **1st January 2024 to 31st December 2024** ## **A. Statement of Financial Activities** |**A. Statement of Financial Activities**||| |---|---|---| |**Income**
Donations
Grants - London Good Stewards Trust
Grants - St Thomas Oakwood
Charitable activities
Other trading activities
Bank interest
**Total**
**Expenditure**
London Diocesan Fund
London City Mission
Insurance
Energy
Start-up expenses
Major repairs
Bank charges
**Total**
**Net movement in funds**
**Total funds brought forward**
Net movement in funds
**Total funds carried forward**
**B. Balance Sheet**|**2024**
**2023**
**Unrestricted**
**Designated**
**Restricted**
**Total**
**Total**
270
-
9,125
9,395
15,320
-
-
15,320
30,000
-
-
30,000
-
-
-
-
7,319
-
-
7,319
1,510
-
-
1,510|| ||**54,419**
**-**
**9,125**
**63,544**
15,924
-
-
15,924
1,200
-
-
1,200
5,207
-
-
5,207
7,187
-
-
7,187
4,010
-
1,936
5,946
19,750
-
-
19,750
70
-
-
70|| ||**53,348**
**-**
**1,936**
**55,284**
**1,071**
**-**
**7,189**
**8,260**
**26,835**
**-**
**-**
**26,835**
1,071
-
7,189
8,260|| ||**27,906**
**-**
**7,189**
**35,095**
**26,835**
**As at 31 December**
**2024**
**2023**
St Matthew's CAF account
345
6,634
St Thomas's Designated Fund
24,416
20,000
St Thomas's Restricted Fund
7,189
201
Prepayments
3,145
-
**Total**
**35,095**
**26,835**|| |||**35,095**
**26,835**| ## **C. Restrictions** |**Restrictions**|| |---|---| |Bibles, chairs, lectern
Youth and children's work
**Total**|**Open**
**Income**
**Expenditure**
**Close**
-
6,000
1,936
4,064
-
3,125
-
3,125| ||**-**
**9,125**
**1,936**
**7,189**| - - C1