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2022-12-31-accounts

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 1 of 28

2022 Annual Accounts Financial Statements And Accounts

The Parochial Church Council of the Parish Church of St. Catherine and St. Paul Pauls Lane Hoddesdon EN11 8TR

Registered Charity No: 1129941

Annual Report

Financial Statements and Accounts for the year ended 31 December 2022

Vicar:

The Reverend Rachel Pennant

BANK INDEPENDENT EXAMINER: The Co-operative Bank PLC John Helm ACA PO Box 101 Tandem Accounting Ltd 1 Balloon Street 17 Heathville Road MANCHESTER N19 3AL LONDON N19 3AL

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 2 of 28

2022 Annual Accounts Financial Statements And Accounts

TABLE OF CONTENTS TABLE OF CONTENTS
3AIMS AND PURPOSES
3 Objectives and Activities
3 Our Mission Statement
3 Our Vision
3 Mission Action Plan
4 Achievements and Performance
4 Worship
4 Church Activities
4 Pastoral Care
4 Mission Action Plan
4 Links with St Catherine’s School
5 Mission Support
5 Work with Churches Together
5 Other Community Events
5 Church Buildings and Garden
6 Communications
6STRUCTURE, GOVERNANCE AND MANAGEMENT
6 Electoral Roll
7 PCC Matters
7 Volunteers
7-8 Safeguarding
9 FINANCIAL STATEMENTS AND ACCOUNTS
9 Independent Examiner's Report
10-11 Statement of Financial Activities
12 Statement of Financial Position
13- 26 Notes to the Financial Statements

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 3 of 28

2022 Annual Accounts Financial Statements And Accounts

AIMS AND PURPOSES

The Parochial Church Council (PCC) of St Catherine and St Paul has the responsibility of co-operating with the incumbent, the Reverend Rachel Pennant, in promoting in the ecclesiastical Parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of the Parish Church of St Catherine and St Paul, the Churchyard and the Church Hall buildings (Barclay Hall and Hunt Room).

Objectives and Activities

Our Mission Statement: ‘Our church exists to worship God; to lead people to Christ; to build a loving Christian community; and to serve a world in need.’

Our Values: ‘We seek to be a community that is generous in love; attentive in prayer; courageous in hope; accepting of others.’

In our Mission Action Plan for 2022, our priorities were:

  1. Deepen the spiritual life of the church

  2. Enable the church to address the issue of Climate Change and Care of Creation.

  3. Help young families to grow spiritually

  4. Ensure the church services meet the needs of all ages

  5. Establish the New Estate Ministry

The PCC is aware of the Charity Commission's guidance on public benefit and the advancement of religion; the PCC benefits the local and wider community by providing:

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 4 of 28

2022 Annual Accounts Financial Statements And Accounts

Achievements and Performance

Worship

We undertook a detailed Review of Worship and decided to continue with a single service at 10.30am on Sunday mornings, and to work to make this service relevant to people of all ages and abilities, from early years to older people.

In October, the PCC agreed to start Café church once a month, and this has welcomed in new people.

There is a Wednesday Morning service at 10.00am, which is either Holy Communion or Morning Prayer.

In 2022, we celebrated 4 Baptisms and 5 Marriages, and held 10 Funerals at the Church, with 10 at Crematoria and 2 at the Cemetery, conducted by our Clergy.

Church Activities

Church members run a number of different activities, including the following:

Pastoral Care

Some church members are unable to attend church due to ill-health or age. The congregation is very supportive. There is a small team of people who take home communion to those who request it. Those who are sick are prayed for weekly through our intercessions.

One member of the congregation has trained to become a Pastoral Enabler.

Mission Action Plan

Some of the achievements over the year in implementing the priorities of the Mission Action Plan include:

Links with St Catherine’s School

The church works closely with St Catherine’s Church of England Primary School. The vicar, Rachel Pennant, goes in regularly to do assemblies;

we have worked with them to set up Prayer Spaces; we run Messy Church in the school every month during term-time; and there is church involvement in

Hoddesdon Parish Church, St. Catherine and St Paul, exists …….

to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 5 of 28

2022 Annual Accounts Financial Statements And Accounts

the

Board of Governors.

Mission Support

The church supports eight Mission partners and four Mission organisations, through our Mission Support Group.

These are prayed for regularly through our church intercessions

Work with Churches Together in Hoddesdon, Broxbourne and Wormley

We have been involved with a number of projects which are run through Churches Together. These include:

Work with Love Hoddesdon and the Business Improvement District

The church enjoys involvement with local events which take place in the town, run by Love Hoddesdon. This year, we ran Wild Church alongside the Jubilee celebrations, we opened the church for hot chocolate and craft activities during Hoddesdon Loves Christmas and took part in the Christmas parade.

We are a co-opted member of the Hoddesdon Business Improvement District.

Other Community Events

We opened the church for 3 days during the Platinum Jubilee celebrations

to show twelve art displays of Happy and Glorious from different local community groups, along with a dance display on the Friday, which was linked with Wild Church.

There were several community events as part of the church’s

Bell-A-Peal, which attracted church members alongside members of the community.

Church Buildings and Garden

Deep cleaning was undertaken in the Barclay Hall kitchen (twice) and the Hunt Room Nursery kitchen.

o The organ was tuned and maintained in March and December The gutters were cleaned twice (May and December), and the roofs inspected. Repairs were made to the gutter above the church office and new tiles fitted to the church Hunt Room roof north transept replacing damaged and loose ones. The Barclay Hall and Hunt Room were redecorated by volunteers from the Church Maintenance Team. Hunt Room All electrical equipment was PAT tested, in all three buildings.

----- Start of picture text -----
Barclay Hall
Barclay Hall
----- End of picture text -----

The Halls are hired out to local community groups. This gives the PCC a source of income, and it also gives us links with different community activities. Groups which use our Halls include:

Alcoholics Anonymous

Baby College

Caterpillar Music (babies/toddlers)

Herts ‘n Soles Western Dance Herts Musical Memories Hoddesdon Women’s Club

‘Ntertainers Dance Class Moo Music Rascals Theatre Group

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Registered Charity No: 1121149 Page 6 of 28

2022 Annual Accounts Financial Statements And Accounts

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Cocaine Anonymous Get Active Rascals Hazelwood Art Group

Martial Arts Group Sarah Hill Line Dancing MD Music Academy (Dance) Slimming World Mental health support St John Ambulance

Communications

We have an active website, and a strong presence on Facebook. Our Services are streamed on Facebook and YouTube. We produce a monthly Newsletter which is sent electronically to those who use email and given in paper form to others. A summary of PCC discussions is communicated verbally during the following church Service, and then posted on the church notice board for people to read.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Parish Church of St Catherine and St Paul, is situated in Amwell Street, opposite Morrisons, in Hoddesdon, a fast- growing town ( with many new residents from North and East London) in the Borough of Broxbourne. in the Diocese of St Albans within the Church of England.

The correspondence address is: Hoddesdon Parish Church - St Catherine and St Paul Pauls Lane, Hoddesdon EN11 9TR T: 01992 462127 M: 07717 16775 E: admin@hoddesdonparishchurch.com

The three Parishes of Broxbourne with Wormley, Hoddesdon and Rye Park comprise the New River Group Ministry, established in 2007. The Group Ministry’s role is to support each other in prayer and ministry and to develop common areas of working and sharing resources, while at the same time retaining independence as separate and distinct Parishes.

The PCC is body corporate within the Church of England; it is governed by the PCC Powers Measure 1956 and by the Church Representation Rules - the original CRR were established in 1969 and completely revised and re-written in 2019. As such, the PCC was previously a charity, exempt from registration with the Charity Commission, but, in accordance with the requirements of the Charities Act 2006, it was registered with the Charity Commission on 02 June 2009 under Registered No.1129941.

The method of appointment of PCC members is set out in the Church Representation Rules. At Hoddesdon Parish Church, PCC membership consists of the incumbent (our Vicar), Churchwardens, and members elected by those members of the congregation who are on the Electoral Roll of the church. All those who attend our Services and are regular worshippers are encouraged to register on the Electoral Roll and stand for election to the PCC.

Electoral Roll: At present, there are 101 names listed on the 2022-3 Church Electoral Roll, 36 of whom are not resident in the Parish. At the Revision in May 2022, 2 names were added; 8 names were

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 7 of 28

2022 Annual Accounts Financial Statements And Accounts

removed - 6 because of passed away.

moving out of this area, and 2

PCC members are responsible for making decisions on all matters of general concern and importance to the Parish, including decisions on how PCC funds are to be spent. Given its wide responsibilities, the PCC sometimes delegates specific tasks relating to church or parish life to sub-groups who report back to the full PCC with proposals for further discussion and subsequent adoption if appropriate.

PCC Matters

The PCC recognises that, in the absence of expert knowledge in its own ranks, it benefits from being able to draw on the considerable knowledge and experience of the Diocese in such areas as legal matters, accounting and reporting, planning and other aspects of managing land and buildings, including insurance, and in employment matters. It has made use of this resource on a number of occasions. The full PCC met eight times during 2022 with an average level of attendance of 77%. PCC members who have served at any time from 01 January until 31 December 2022 are: Ex Officio members:

Incumbent: Reverend Rachel Pennant - Chair Curate: Reverend Kate Carter (until 30 April 2022) Churchwardens: John Everett Linda Hinks Elected members: Alan Gifford (from APCM 15 May 2022) Becca Farrant (resigned October 2022) Christina Parker (to APCM 15 May 2022) Diana Forrest (to APCM 15 May 2022) Hilary Marsh (Deanery Synod) - PCC Secretary Iris Trew Jim Nicolson - Lay Vice Chair Liz Galpin Margaret Davison (from APCM 15 May 2022) Mike Marsh (Deanery Synod) - Treasurer Paula Clark (to APCM 15 May 2022) - Safeguarding Officer

Induction and Training of PCC Members : Members are expected to acquaint themselves with the resources available on the websites of both the Charity Commission and the Diocese of St Albans, which cover the responsibilities of Trustees and their training.

Volunteers: Hoddesdon Parish Church employs a Church Administrator, a Family Link Worker, and a Halls Cleaner, all of whom are part-time; the Organist receives an annual honorarium. All other tasks and activities are undertaken by church members who freely give of their time and talents. Without their dedication, commitment, hard work and expertise, many of the tasks would not be achieved and the church would not function effectively.

To all our Volunteers - THANK YOU SO MUCH!

Safeguarding: Our Parish Safeguarding Officer is Paula Clark.

The PCC takes its Safeguarding responsibilities very seriously and has reviewed and adopted the guidance from the Diocese and Church of England. This means that all eligible volunteers are subject to Disclosure and Barring Service (DBS) checks and best practice guidelines provided together with relevant training.

We work with the Safer Recruitment guidelines of the Church of England and this year the PCC has Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 8 of 28

2022 Annual Accounts Financial Statements And Accounts

approved a new Policy ex-Offenders.

regarding the Recruitment of

The appointed Parish Safeguarding Officer works to ensure that all church members understand that Safeguarding is a key element of this church’s overall mission with all vulnerable people.

During the past year, PCC members and others, working with vulnerable people, have completed on-line training and DBS clearances have been kept up-to-date.

There have been 2 Safeguarding concerns raised in 2022 which have been dealt with in line with guidance from the Diocesan Safeguarding Advisor.

The PCC considers that this Report, taken as a whole, provides evidence that the Achievements of the Parish Church of St Catherine and St Paul, Hoddesdon, in 2022, furthered its charitable purposes for the public benefit: the majority of Services continued to be live-streamed and accessed on-line (YouTube and Facebook), giving opportunities for the wider community to benefit from worship, as well as Church Members who are unable to attend because of varying reasons.

----- Start of picture text -----
Approved by the PCC and signed
on their behalf by the Reverend
Rachel Pennant
----- End of picture text -----

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 9 of 28

2022 Annual Accounts Financial Statements And Accounts

NB All photos are used with permission

INDEPENDENT EXAMINER’S REPORT

TO THE PAROCHIAL CHURCH COUNCIL OF ST CATHERINE’S AND ST PAULS, HODDESDON

I report to the Parochial Church Council on my examination of the financial statements of St Catherine & St Paul, Hoddesdon (the Church) for the year ended 31 December 2022.

Responsibilities and basis of report

As the Parochial Church Council of the Church you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

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

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Church as required by section 130 of the 2011 Act; or

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

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

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

John Helm ACA

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 10 of 28

2022 Annual Accounts Financial Statements And Accounts

Tandem Accounting Ltd 17 Heathville Road London N19 3AL

Date 30[th] May 2023

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Current financial year

Unrestricted
funds
Restricte
d
funds
Endowmen
t
funds
Total
Income
from:
2022
Notes
£
2022
£
2022
£
2022
£
Donations and legacies
3
87,014
14,098
-
101,11
2
Charitable activities
4
4,651
-
-
4,651
Other trading activities
5
41,483
-
-
41,48
3
Investments
6
10,695
2,688
-
13,38
3
Total income
143,843
16,786
-
160,62
9
Expenditure
on:
Raising funds
7
25,548
8,111
-
33,65
9
Charitable activities
8
117,025
22,355
-
139,38
0
Total expenditure
142,573
30,466
-
173,03
9
Net gains/(losses) on
investments
13
-
-
(3,074)
(3,074
)
Net movement in funds
1,2
70
(13,680)
(3,074) (15,484)
Fund balances at 1 January
2022
100,964
369,920
76,380 547,26
4
Fund balances at 31
December 2022
102,234
356,240
73,306 531,78
0		 Total
2021
£
118,767
3,430
30,133
1,822
154,152
22,840
135,170
158,010
3,316
(542)
547,806
547,264

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 11 of 28

2022 Annual Accounts Financial Statements And Accounts

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Prior financial year

Unrestricte
d
funds
Restricte
d
funds
Endowmen
t
funds
Income
from:
Note
s
2021
£
2021
£
2021
£
Donations and legacies
3
89,737
29,030
-
Charitable activities
4
3,430
-
-
Other trading activities
5
30,133
-
-
Investments
6
1,144
678
-
Total income
124,444
29,708
-
Expenditure
on:
Raising funds
7
14,729
8,111
-
Charitable activities
8
113,639
21,531
-
Total expenditure
128,368
29,642
-
Net gains/(losses) on investments
13
-
-
3,316
Net movement in funds
(3,924)
66
3,316
Fund balances at 1 January 2021
104,888
369,854
73,064
Fund balances at 31 December
2021
100,964
369,920
76,380		 Total
2021
£
118,767
3,430
30,133
1,822
154,152
22,840
135,170
158,010
3,316
(542
)
547,806
547,264

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 12 of 28

2022 Annual Accounts Financial Statements And Accounts

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022

Note
s
Fixed assets
Property, plant and equipment
14
Investments
15
Current assets
Trade and other receivables
16
Cash at bank and in hand
Current liabilities
17
Net current assets
Total assets less current
liabilities
Capital funds
Endowment funds - general
19
Income funds
Restricted funds
20
Unrestricted funds		 2022
£
15,847
220,352
236,199
(12,826)		 £
235,10
1
73,306
308,40
7
223,37
3
531,78
0
73,306
356,24
0
102,23
4
531,78
0		 2021
£
17,830
233,873
251,703
(24,031)		 £
243,21
2
76,380
319,59
2
227,67
2
547,26
4
76,380
369,92
0
100,96
4
547,26
4

The financial statements were approved by the Parochial Church Council on 19[th] February 2023

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Registered Charity No: 1121149 Page 13 of 28

2022 Annual Accounts Financial Statements And Accounts

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Hilary Marsh PCC Secretary

Mike Marsh Treasurer

pp Rev’d Dr Rachel Pennant

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting Policies

Charity information

St Catherine’s & St Paul’s, Hoddesdon is a body corporate within the Church of England; it is governed by the PCC Powers Measure 1956 and by the Church Representation Rules

1.1 Accounting Convention

The financial statements have been prepared in accordance with the Church's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Church is a Public Benefit Entity as defined by FRS 102.

The Church has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Church. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going Concern

At the time of approving the financial statements, the Parochial Church Council have a reasonable expectation that the Church has adequate resources to continue in operational existence for the foreseeable future. Thus the Parochial Church Council continue to adopt the going concern basis of accounting in preparing the financial statements.

Hoddesdon Parish Church, St. Catherine and St Paul, exists …….

to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 14 of 28

2022 Annual Accounts Financial Statements And Accounts

1.3 Charitable Funds

Unrestricted funds are available for use at the discretion of the Parochial Church Council in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Church.

1.4 Income

Income is recognised when the Church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Planned giving, cash offerings, donations, grants and legacies are recognised when received.

Amounts received for specific purposes are dealt with as restricted funds and the liability for payment is recognised when the amounts are received.

Tax recoverable under Gift Aid is recognised when the donations to which it relates are received.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting Policies (Continued)

Income from the letting of hall premises and from freehold premises is recognised on the accruals basis. It is shown gross, with the associated costs being included in fundraising costs.

Dividends are accounted for when received; interest is accounted for on the accruals basis.

PCC Fees for weddings and funerals are accounted for on a ‘net’ basis, i.e. after deducting that element of the fees charged which belongs legally to the Diocese and other elements which are included in the charge on a ‘pass through, nil profit’ basis e.g. payments to the organist, choir, bell ringers, vergers.

The proceeds of insurance claims are netted off against the cost incurred in rectifying the damage or loss suffered.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

The PCC is not registered for VAT and, accordingly, expenditure includes VAT where appropriate.

Fundraising Expenditure

This includes amounts incurred in obtaining donations and property maintenance costs.

Charitable expenditure This comprises the costs incurred in fulfilling the PCC’s principal objects, as outlined in its Annual Report, and includes:

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 15 of 28

2022 Annual Accounts Financial Statements And Accounts

with church services and other

worship and fellowship activities.

1.6 Property, Plant and Equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Freehold land and buildings 50 years straight line Plant and equipment 4/10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting Policies (Continued)

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the accounts by Section 10 (2) (a) of the Charities Act 2011 and, therefore, forms no part of the assets of the PCC. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal. They are considered by the PCC to be inalienable property. They are not valued or recognised as fixed assets in the Financial Statements. All expenditure on consecrated or beneficed buildings by way of maintenance or improvement or on the acquisition of moveable church furnishings is written off when incurred.

Other Land and Buildings

Buildings owned by the PCC are depreciated on a straight-line basis over 50 years.

Other Fixtures, Fittings and Equipment

Most items owned by the PCC are depreciated on a straight-line basis over 10 years. Some items will clearly have a useful life of less than this but others will last longer than 10 years. The PCC considers that an overall period of 10 years is appropriate. Computers, other electronic equipment and software are written off over 4 years. Some individual items of small value are written off as current expenditure.

1.7 Non-current Investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of Non-current Assets

At each reporting end date, the Church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and Cash Equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid Hoddesdon Parish Church, St. Catherine and St Paul, exists …….

to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 16 of 28

2022 Annual Accounts Financial Statements And Accounts

investments with original less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

maturities of three months or

1.10 Financial Instruments

The Church has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic Financial Assets

These are stated at the settlement amount due. Prepayments are valued at the amount prepaid.

Basic financial liabilities

These are stated at their settlement amount.

Derecognition of financial liabilities

Financial liabilities are recognised when the Church’s contractual obligations expire or are discharged or cancelled.

1.11 Employee Benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Church is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting Policies (Continued)

1.12 Retirement benefits

Pensions

For eligible salaried employees who commenced employment after 1 January 2009, the PCC participates in the Pension Builder Classic section (PBC) of the Pension Builder Scheme, part of the Church Workers Pension Fund (CWPF), which is administered by Church of England Pensions Board. The latter holds the assets of the scheme separately from those of the PCC and the other participating employers. It is classed as a defined benefit scheme.

PBC provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be declared, depending upon the investment returns and other factors.

There is no sub-division of assets between employers in each section of the PBC and it is not, therefore, possible to attribute the scheme’s assets and liabilities to a specific participating employer. The PCC is exposed to the actuarial risks associated with the current and former employees of other entities participating in the scheme and the legal structure of the scheme is such that if another employer fails, the PCC could become responsible for paying a share of that employer’s pension liabilities. The Pensions Board has, however, put measures in place to mitigate those risks. The scheme is, therefore, considered to be a multi- employer scheme, as described in Section 28 of FRS 102, and, accordingly, contributions are accounted for as if the scheme were a defined contributions scheme

A valuation of the scheme is carried out once every three years. The most recent completed scheme valuation was carried out as at 31 December 2019. This revealed, on the ongoing assumptions used, a deficit of £4.8m. At the most recent annual review, the Board chose to grant a discretionary bonus of 3%, following improvements in the funding position in 2021. Currently there is no requirement for employers to make deficit payments.

The PCC contributes 5% of basic salary and employees are required to contribute a minimum of 5%. There were no arrears of contributions as at 31 December 2022

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 17 of 28

2022 Annual Accounts Financial Statements And Accounts

The PCC had 2 active in the PCB at 31 December 2022.

members and 2 deferred members

2 Critical Accounting, Estimates and Judgements

In the application of the Church’s accounting policies, the Parochial Church Council are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

3 Donations and legacies

Donations and
cies
Unrestricte
d
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
86,764
4,098
Grants receivable
250
10,000
87,014
14,098
Donations and gifts
Pledged oferings
62,555
-
Cash oferings
1,630
-
Bell Appeal
-
2,262
Other donations
5,759
1,836
Gift aid recoverable
16,820
-
86,764
4,098		 TotalUnrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
90,862
89,737
6,834
10,250
-
22,196
101,11
2
89,737
29,030
62,555
66,553
-
1,630
1,073
-
2,262
-
280
7,595
4,289
6,554
16,820
17,822
-
90,862
89,737
6,834		 Tota
l
202
1
£
96,571
22,196
118,76
7
66,553
1,073
280
10,843
17,822
96,571

Grants receivable for core activities Government grants - - - - 500 500

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

----- Start of picture text -----
Parish Church of St Catherine and St Paul Registered Charity
2022 Annual Accounts Pauls Lane Hoddesdon EN11 8TR No: 1121149
Financial Statements www.hoddesdonparishchurch.com Page 18 of 28
And Accounts 01992 462127 / 07776 659891
----- End of picture text -----

Other grant income
4
Charitable activities
Fee income		 250
10,000
250
10,000		 10,250
-
21,696
10,250
-
22,196
2022
£
4,651		 21,696
22,196
2021
£
3,430

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

5 Other trading activities Other trading activities
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Hall lettings 35,148 27,537
Newsletter income 1,606 1,489
Clubs and other church events 4,729 1,107
Other trading 41,483 30,133
activities
6 Investments
Unrestricte Restricted TotalUnrestricted Restricted Total
d
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Rental income 8,899 - 8,899 - - -

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

----- Start of picture text -----
Parish Church of St Catherine and St Paul Registered Charity
2022 Annual Accounts Pauls Lane Hoddesdon EN11 8TR No: 1121149
Financial Statements www.hoddesdonparishchurch.com Page 19 of 28
And Accounts 01992 462127 / 07776 659891
----- End of picture text -----

Dunn Trust income
-
1,088
Quibell Trust income
-
1,600
Interest receivable
1,796
-
10,695
2,688
7
Raising funds
Unrestricte
d
Restricted
funds
funds
2022
2022
£
£
Hall buildings upkeep
11,536
-
Curate's House
upkeep
5,792
-
Clubs and other
church events
expenses
2,583
-
Staf costs
5,637
-
Depreciation
and
impairment
-
8,111
25,548
8,111		 1,088
-
678
1,600
-
-
1,796
1,144
-
13,38
3
1,144
678
TotalUnrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
11,53
6
6,986
-
5,792
650
-
2,583
1,169
-
5,637
5,924
-
8,111
-
8,111
33,65
9
14,729
8,111		 678
-
1,144
1,822
Total
2021
£
6,986
650
1,169
5,924
8,111
22,840

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

8 Charitable activities

Staf costs
Diocesan Parish share
Clergy expenses
Organist
Upkeep of church buildings
Church services
Church activities
Newsletter		 2022
£
18,635
65,297
2,134
1,200
13,819
2,541
2,433
679
106,73		 2021
£
6,493
58,944
4,362
1,200
11,269
1,239
17,094
665
101,26

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Registered Charity No: 1121149 Page 20 of 28

2022 Annual Accounts Financial Statements And Accounts

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Grant funding of activities (see note 9)
Share of support costs (see note 10)
Share of governance costs (see note 10)
Analysis by fund
Unrestricted funds
Restricted funds		 8
11,073
17,895
3,674
139,38
0
117,02
5
22,355
139,38
0		 6
14,087
18,937
880
135,17
0
113,63
9
21,531
135,17
0

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

9 Grants payable
2022 202
1
£ £
Grants to institutions:
People International 1,500 1,00
0
Young Life 1,000 1,00
0
Mission Aviation Fellowship 500 500
All Nations Christian College 1,250 1,00
Hoddesdon Parish Church, St. Catherine and St Paul, exists …….
to worship God, to lead people to Christ, to build a loving Christian community
and to serve a World in need

Registered Charity No: 1121149 Page 21 of 28

2022 Annual Accounts Financial Statements And Accounts

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

0
Wyclife UK 1,750 1,50
0
AIM International 500 500
Operation Mobilisation - 500
Tear Fund 500 500
Church Mission Society - 1,00
0
Hoddesdon & Broxbourne Settings 500 687
St Albans Diocese - 3,90
0
Nigerian Flood Relief 573 -
8,073 12,08
7
Grants to individuals 3,000 2,000
11,073 14,08
7

10 Support costs

Support
costs
Governanc
e
costs
£
£
Staf costs
13,680
-
Depreciation
-
-
Administration and
ofce expenses
363
-
Photocopying
and printing
2,039
-
Telephone
345
-
Internet and website
1,468
-
Independent
examination
-
1,080
Accountancy
-
1,920
PCC away day expenses
-
674
17,895
3,674
Analysed
between
Charitable activities
17,895
3,674		 2022
Support
costs
Governanc
e
costs
£
£
£
13,68
0
13,216
-
-
981
-
363
791
-
2,039
2,473
-
345
529
-
1,468
947
-
1,080
-
880
1,920
-
-
674
-
-
21,56
9
18,937
880
21,56
9
18,937
880		 2021
£
13,21
6
981
791
2,473
529
947
880
-
-
19,81
7
19,81
7

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

11 Parochial Church Council

None of the Parochial Church Council (or any persons connected with them) received any

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 22 of 28

2022 Annual Accounts Financial Statements And Accounts

remuneration or

benefits (other than for

purchasing items on behalf of the church) from the Church during the year.

12 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
3 3
Employment costs 2022 2021
£ £
Wages and salaries 36,267 24,628
Pension and life insurance costs 1,685 1,005
37,952 25,633

There were no employees whose annual remuneration was more than £60,000.

13 Net gains/(losses) on investments

Endowmen Endowmen
t t
fund fund
s s
gener gener
al al
2022 2021
£ £
Revaluation of investments (3,074 3,316
)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 23 of 28

2022 Annual Accounts Financial Statements And Accounts

14 Property, plant and equipment

Freehol
d
land
and
buildin
gs
Plant
and
equipme
nt
£
£
Cost
At 1 January 2022
405,554
66,657
At 31 December 2022
405,554
66,657
Depreciation and impairment
At 1 January 2022
162,472
66,657
Depreciation charged in the year
7,981
-
At 31 December 2022
170,453
66,657
Carrying amount
At 31 December 2022
235,101
-
At 31 December 2021
243,212
-		 Total
£
472,21
1
472,21
1
229,12
9
7,981
237,11
0
235,10
1
243,21
2
Fixed Asset Investments
Listed
Investments
£
15 Fixed Asset Investments
Listed
Investments
£
Cost of Valuation
At 1 January 2022 76,380
Valuation Changes
(3,074)
----------
At 31 December 2022 73,306
======
Carrying amount
At 31 December 2022
73,306
At 31 December 2021
76,380
======
202 2021
2 £
£
Investments at fair value comprise:
1128 CBF Investment Fund Units 23,306 26,380

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul
Pauls Lane Hoddesdon EN11 8TR
www.hoddesdonparishchurch.com
01992 462127 / 07776 659891
2022 Annual Accounts
Financial Statements
And Accounts
£50,000 NSB Income
Bonds		 Registered Charity
No: 1121149
Page24of28
50,000
50,000
73,306
76,380

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

16
Trade and other receivables
Amounts falling due within one year:
Other receivables
Prepayments and accrued income
17
Current liabilities
Other payables
Accruals and deferred income		 2022
£
12,46
1
3,386
15,84
7
2022
£
5,076
7,750
12,82
6		 2021
£
14,415
3,415
17,830
2021
£
8,852
15,179
24,031

18 Retirement benefit schemes

Defined contribution schemes

The Church operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Church in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £1,685 (2021 - £1,005).

19 Endowment funds

Balance At Revaluation Balance at Revaluation Balance at


January gains and 31 December

2022 losses 2022

£ £ £
Permanent endowments
Dunn Bequest


73,06
4
73,06		 1 January
2021
£
3,316
76,38
0
3,316
76,38		 gains and 1
losses
£
(3,074)
73,30
6
(3,074)
73,30

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul 2022 Annual Accounts Pauls Lane Hoddesdon EN11 8TR Financial Statements www.hoddesdonparishchurch.com Page 25 And Accounts 01992 462127 / 07776 659891 4 0 6

Registered Charity No: 1121149 Page 25 of 28

Dunn Bequest - This is a permanent endowment which requires the income to be spent within the Parish in providing a retainer for the services of an organist and for meeting the expenses of the clergy.

Quibell Bequest - This is a permanent endowment which requires the income to be spent within the Parish, primarily for meeting the expenses of the clergy. The assets are held in a separate trust fund which is not controlled by the PCC. The trustees have informed the PCC that the fund is invested in CBF Church of England funds (Deposit, Fixed Interest Securities and Investments), the market value of which at 31 December 2022 was £28,824 (2021: £30,445). The original cost of the assets settled on the fund was £25,120. The income is considered to be restricted.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

19 Restricted Funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in Funds

Balance at
1 January

2022
£
St Catherine's House Fund - Buildings
243,21
2
St Catherine's House Fund - Cash
90,712
Bell Appeal
25,798
Leavers bibles St Catherine's Primary School
-
Family Link Worker
9,079
HABS (Hoddesdon & Broxbourne Settings)
913
Mosaic Project
-
Rainbow Trail
-
Messy Church
205
Other
1
Dunn Bequest - Organist retainer
-
Quibell Bequest
-
369,92
0		 Incoming
Resources
Balance at
resources
expended
31 December
2022
£
£
£
-
(8,111)
235,10
1
-
-
90,712
2,262
-
28,060
10
-
10
10,000
(19,033)
46
400
(500)
813
1,000
(90
)
910
300
-
300
126
(44
)
287
-
-
1
1,088
(1,088)
-
1,600
(1,600)
-
16,786
(30,466)
356,24
0		 Incoming
Resources
Balance at
resources
expended
31 December
2022
£
£
£
-
(8,111)
235,10
1
-
-
90,712
2,262
-
28,060
10
-
10
10,000
(19,033)
46
400
(500)
813
1,000
(90
)
910
300
-
300
126
(44
)
287
-
-
1
1,088
(1,088)
-
1,600
(1,600)
-
16,786
(30,466)
356,24
0
356,24
0

Movements for the year ended 31 December 2021

Movements for the year ended 31 December 2021
Movement in Funds
Balance at Incoming Resources Balance at
1 January resources expended 31 December
2021 2021
£ £ £ £

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Registered Charity No: 1121149 Page 26 of 28

2022 Annual Accounts Financial Statements And Accounts

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

St Catherine's House Fund - Buildings
St Catherine's House Fund - Cash
Bell-A--Peal
Leavers’ bibles St Catherine's Primary School
Readership Training
Listening Project
Family Link Worker
HABS (Hoddesdon & Broxbourne Setting
Mosaic Project
Rainbow Project
Messy Church
Other
Dunn Bequest - Organist retainer		 251,32
3
90,712
25,518
-
350
150
800
1,000
-
-
-
1
369,85
4		 -
(8,111)
-
-
280
-
57
(57
)
350
(700)
-
(150)
15,720
(7,441)
600
(687)
11,185
(11,185)
200
(200)
638
(433)
-
678
-
(678
)
29,708
(29,642)		 243,21
2
90,712
25,798
-
-
-
9,079
913
-
-
205
1
-
369,92
0

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

20 Restricted funds (Continued)

St Catherine's House Fund

This comprises the Barclay Hall and Hunt Rooms, the New Rooms (over the Hunt Rooms), 134 Plomer Avenue (curate's house) and the net cash surplus derived from the sale of St Catherine's House and the purchase of 134 Plorner Avenue in 2008. These assets, any capital receipts derived from their disposal and any replacement assets purchased therefrom are held under a trust of which the PCC is the managing trustee and the St Albans Diocesan Board of Finance is the custodian trustee. Accordingly, these assets must be treated as a restricted fund in the accounts of the PCC. The income arising from assets within the Fund is not restricted and can be used for general PCC purposes. In 2008, the PCC decided to allocate the income from the fund to a designated fund for the Children's 8 Family Worker. The latter was closed in 2012 and the income is now allocated to the General Fund. The resources expended in the fund during the year represent the charge for depreciation on fund assets.

Bell-A-Peal Fund

This was established in 2014. The condition of the bell installation had been of concern for several years, given that it was approaching twice its predicted maximum useful life (115 years actual compared with 60 years maximum predicted). During 2014 the PCC commissioned 3 specialist bell repair companies to inspect the installation and recommend what action might be needed. These reports showed that the ringing fittings had well outlived their useful life and recommended their replacement, together with some refurbishment of the bell frame. The bells themselves were still usable but it was also recommended that they be renovated and retuned as part of the rehanging process. Other non-structural renovation work on the tower is required, some of which can be carried out only with the bells removed. The cost of this work is difficult to predict accurately at this stage, but it could amount to £80,000. The PCC authorised the attempt to raise the necessary funds, recognising that this would be a longer-term project, spread over many years, and that the necessary work needed to be carried out at the same time and not

Hoddesdon Parish Church, St. Catherine and St Paul, exists …….

to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

Parish Church of St Catherine and St Paul Pauls Lane Hoddesdon EN11 8TR www.hoddesdonparishchurch.com 01992 462127 / 07776 659891

Registered Charity No: 1121149 Page 27 of 28

2022 Annual Accounts Financial Statements And Accounts

piecemeal. A working

piecemeal. A working group was set up oversee the project and to raise funds under the 'Bell-A-Peal' banner, both through events and, when sufficient money has been raised, by applying for grants from relevant organisations

In the event that it does not prove possible to raise sufficient funds to finance the project, the money raised so far will be applied solely to repairs and improvements to the Bell Tower.

Specific Donations

Money given to the PCC to be applied for a specified purpose only, e.g. Harvest and Christmas appeals, donations for the upkeep or refurbishment of the church or halls, collections at funerals for a specified charity.

Dunn and Quibell Bequests

The Dunn Bequest is a permanent endowment which requires the income to be spent within the Parish in providing a retainer for the services of an organist and for meeting the expenses of the clergy and, accordingly, is treated as restricted.

The Quibell Bequest is a permanent endowment which requires the income to be spent within the Parish, primarily for meeting the expenses of the clergy and, accordingly, is treated as restricted. The assets are held in a separate trust fund which is not controlled by the PCC.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

21 Analysis of net assets between funds

Fund balances are represented by:
Property, plant and equipment
Investments
Current assets		 Unrestricted
funds
Restricted
funds
Endowment
funds
2022 2022 2022
£ £ £
-
235,10
1
-
-
-
73,30
6
102,234 121,139
-
102,23
~~4~~
356,24
~~0~~
73,30
~~6~~		 Unrestricted
funds
Restricted
funds
Endowment
funds
2022 2022 2022
£ £ £
-
235,10
1
-
-
-
73,30
6
102,234 121,139
-
102,23
~~4~~
356,24
~~0~~
73,30
~~6~~		 Unrestricted
funds
Restricted
funds
Endowment
funds
2022 2022 2022
£ £ £
-
235,10
1
-
-
-
73,30
6
102,234 121,139
-
102,23
~~4~~
356,24
~~0~~
73,30
~~6~~		 Total
2022
£
235,10
1
73,306
223,37
3
531,78
~~0~~		 Total
2021
£
243,21
2
76,380
227,67
2
102,23
~~4~~
 356,24
~~0~~
 547,26
~~4~~

Analysis for the year ended 31 December 2021

Unrestricted Restricted Endowment Total funds funds funds

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need

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Parish Church of St Catherine and St Paul Registered Charity
2022 Annual Accounts Pauls Lane Hoddesdon EN11 8TR No: 1121149
Financial Statements www.hoddesdonparishchurch.com Page 28 of 28
And Accounts 01992 462127 / 07776 659891
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Property, plant and equipment
Investments
Current assets		 2021
£
-
-
100,96
4
100,96
4		 2021
£
243,21
2
-
126,70
8
369,92
0		 2021
£
-
76,380
-
76,380		 2021
£
243,21
2
76,38
0
227,67
2
547,26
4

22 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

Hoddesdon Parish Church, St. Catherine and St Paul, exists ……. to worship God, to lead people to Christ, to build a loving Christian community and to serve a World in need