ST PETER'S CHURCH, DE BEAUVOIR TOWN TRUSTEES, REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Contents l. Adminostratlve detalls of the charlty and trustees - page 2 2. Trustees. report - pages 3 to 7 3. Independent examlner's report and flnanclal statements - pages 8 to 23 This trustees, report and flnancial statements were approved by the trustees 14 June 2025 and signed on thelr behalf. Rev Dr Simon Cuff, vicar and chairman of the trustees fJN9kJ Mr. Paul Snow, treasurer Page I
1. Administrative details of the charity and trustees
Trustees and members of the parochial church council (PCC)
Rev. Dr. Simon Cuff Rev. Buki Fatona (until 17/01/25) Iris Bachmann (until 7/4/24) Amanda Bart-Plange Dominic Batchelor Christina Engineer (nee Clark) Tyrone Brown (until 7/4/24) Sarah Dallas (until 30/9/24) Heather Finlay Thomas Forsyth Mae Fredericks Jacqueline Grace (until 7/4/24) Kate Green (until 4/7/24) Amanda Holgate Jane King (until 7/4/24) Florence Nwokoye Paul Snow Claire Tournemine Jeannette Wilkes
Charity registered number
1130111
Principal office
St Peter ’ s Vicarage, 86 de Beauvoir Road, London N1 5AT
Bankers
National Westminster Bank Plc, Stoke Newington High Street, London N16 7GA Unity Trust Bank plc, Planetary Road, Willenhall WV1 9DG
Website
www.stpeterdebeauvoir.org.uk
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2. Trustees' Annual Report
The Trustees of St Peter’s Church have pleasure in presenting their Annual Report for the year ended 31 December 2024. This report and the accompanying financial statements have been prepared in accordance with “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).
St Peter's Church is situated in De Beauvoir Town, Hackney, London, N1. It is part of the Diocese of London within the Church of England.
Objectives and Activities
- a. Policies and objectives
St Peter ’ s PCC has the responsibility of cooperating with the Vicar and other parish clergy to promote the whole mission of the church, pastoral, evangelistic, social and ecumenical within the parish. It also has maintenance responsibilities for the whole church building, including the crypt and the parish house at 16 De Beauvoir Road.
The church relies substantially upon the commitment, enthusiasm and
professionalism of many volunteers, both within the church and from the wider community and is profoundly grateful to them.
- b. Public Benefit Statement
In producing their assessment of the benefit to the public provided by the charity, the trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefits, Charities and Public benefit.
- c. Activities undertaken and achievements
The church is a thriving place of worship. As a parish church it remains a focus of much community activity and also attracts a wider geographical spread of worshippers. Inclusive congregational events include Lent programmes, Christmas carols, regular morning and evening prayer, compline and other services alongside other events such as the Petertide celebration, Assumption lunch and occasional fundraisers.
Our outreach activities include the warm weekdays project, Saturday ‘Going Deeper’ services, hosting a monthly cost of living round table, and participating in a number of community forums. We support a number of charities through offering a refund on rental fees including Hackney Playbus, Happy Babies and Woven Gold choir providing support
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for homeless people, mothers and young children and refugees, and for a number of addiction support groups.
Our buildings are a valuable resource and are used for a wide range of mission based and community activities.
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Achievements and performance
a. Financial review
The PCC ’ s Funds are divided into General, Restricted and Endowment Funds. Restricted Funds can be used only for the purpose for which they are established and we benefit from income (for general use) derived from the Endowment Funds. Total general income in 2024 was £223,400 (2023: £207,842) including £33,371 (2023: £37,644) planned giving by the congregation. Loose plate collections, donations and Gift Aid supplement this giving. We are grateful for the generosity of those who donate. Income from letting church and crypt premises was £87,105 (2023: £67,332) and we work with others such as Sharesy and Peerspace to help maximise the use of these premises.
We also benefit from the huge and irreplaceable voluntary input from a wide section of the community into our various activities.
Our contribution of £50,000 (2023: £50,000) to the Common Fund is planned to increase over the next five years.
b. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
c. Reserves policy
Reserves are designed to act as a cushion against uncertainties about future risks and costs. The major uncertainties are: maintenance of the fabric of this historic Victorian church and crypt; possible fluctuations in the letting income; the need for continuing investment in staff and maintenance in the crypt space and possible loss of income from 16 De Beauvoir Road if it is used for other purposes such as a house for service.
The PCC considers that free reserves of six months' expenditure are prudent and reviews this policy annually. Total general expenditure in 2024 was £197,252 (2023: £215,757). At the balance sheet date, total unrestricted (general & designated) funds stood at £150,458 (2023: £122,917). This is higher than the PCC ’ s reserves policy requires, providing a cushion for additional expenditure anticipated in coming years.
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d. Restricted funds.
These include money set aside for our recently appointed Community Organiser and the musical support of choral scholars during worship as well as continuing support for two refugee families in the parish. Total restricted income in 2024 was £33,084 (2023: £44,279) and total restricted expenditure in 2024 was £32,172 (2023: £30,520). Tribute is paid to the generosity of bodies granting us this income and to the people who make this possible.
Structure, governance and management
- a. Constitution
The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is registered with the Charity Commission (charity number 1130111).
- b. Method of appointment or election of Trustees
The method of appointment of Church Wardens and PCC members is set out in the Church Representation rules.
- c. Organisational structure and decision making
All church attendees are encouraged to register on the Electoral Roll and at the Annual Parish Church Meeting held on 7 April 2024 there were 197 (2023: 197) members.
Day to day management is carried out by the incumbent, church wardens and PCC members.
The PCC carries out its work through regular meetings and also through subcommittees and teams with delegated tasks. The Standing Committee has the power to transact the business of the PCC between meetings.
All buildings are fully insured and regular fire inspections held. A safeguarding policy is in place and the PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 to have regard to House of Bishops ’guidance on safeguarding children and vulnerable adults.
d. Risk management
The PCC members have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
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Plans for future periods
It is recognised that community involvement (including fundraising) and obtaining grants will – be vital to rebuilding the church in the years ahead both financially and socially. This is an ongoing task (with some success assisted by new grant funding in 2024). We shall continue to build links with the local community through personal contact and the widening programme of events in our building. We shall be sad to say goodbye to Fr Simon Cuff during 2025 but look forward to welcoming a new incumbent as soon as possible after the end of August 2025.
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Inde endent Examinerfs re De Beauvoir Town Hackne ort to the trustees Re istered charit members of The PCC of St Peterfs Church number: 1130111 I report to the Charity trustees on my examination of the accounts for the Charity for the year ended 31 December 2024 which are set out on pages 9 to 23. Responsibilities and basis of report As the trustees of the Charity, you are responsible for the preparation of the accounts in ac- cordance with the requirements of the Charities Act 2011 ("the 2011 Act"). I report in respect of my examination of the Charitvs accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs Statement I have completed my examination. I confirm that no material matters have come to my at- tention in connection with the examination which gives me cause to believe that in, any ma- terial respect: Accounting records were not kept in accordance with section 130 of the 2011 Act; or The accounts do not accord with the accounting records; or The accounts 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; or The trustee's annual report is not consistent with the accounts. I have no concerns and have no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. mJ/ Melanie Crooks Melanie Crooks Associates Limited Bellfield House Bloxwich West Midland5 WS3 3NJ Date: IG.6.ao25 Page 8
St Peter de Beauvoir Church
Financial Statements
Year ended 31 December 2024
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St Peter’s Church, De Beauvoir Town, Hackney
Statement of Financial Activities for the year ended 31 December 2024
| Unrestricted funds Designated funds Restricted funds Endowment funds Total funds Prior year total funds |
|
|---|---|
| Receipts Planned giving Collections and other giving Other voluntary receipts Gift Aid recovered Other receipts Activities for generating funds Investment Income Receipts from church activities Total income Payments Cost of generating funds Missionary and Charitable Giving Parish Share Clergy and Staffing costs Church Running Expenses Hall Running Costs Church Repairs & Maintenance Hall Repairs & Maintenance New Building work Governance Costs Total expenditure Net income / (expenditure) resources before transfer Transfers Gross transfers between funds - in Gross transfers between funds - out Other recognised gains / losses Gains/losses on investment assets Gains on revaluation, fixed assets, charity's own use Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
33,371 - - - 33,371 37,644 - - - - - - 18,280 - 4,011 - 22,291 27,045 17,994 - 508 - 18,501 15,280 5,217 - 28,566 - 33,782 52,819 100,027 - - - 100,027 72,818 46,194 - - - 46,194 45,891 2,318 - - - 2,318 624 |
| 223,400 - 33,084 - 256,483 252,121 11,692 - 677 - 12,369 11,203 481 - 8,883 - 9,365 20,803 50,000 - - - 50,000 50,000 58,293 - 12,275 - 70,568 61,756 54,620 - 10,337 - 64,957 46,401 11,692 - - - 11,692 17,943 5,646 - - - 5,646 35,440 1,917 - - - 1,917 1,697 - - - - - - 2,911 - - - 2,911 1,035 |
|
| 197,252 - 32,172 - 229,424 246,277 |
|
| 26,148 - 911 - 27,059 5,844 2,603 500 1,210 - 4,313 31,986 (1,710) - (2,603) - (4,313) (31,986) - - - 328,407 328,407 29,106 - - - - - - |
|
| 27,040 500 (481) 328,407 355,466 34,950 |
|
| 82,921 39,996 58,616 711,472 893,005 858,055 |
|
| 109,962 40,496 58,134 1,039,879 1,248,471 893,005 |
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St Peterfs Church. De Beauvolr Town. Hackney Balance Sheet as at 31 December 2024 3111212024 3111212023 Mxtd ass•ts Tanglble Assets Investments 576,0(X) 463.879 1,039079 260,OCrf) 451,472 711,47Z C¥rr•rt •ss¢ts Cash At Bank And In Hand 222,101 221101 191,646 19L646 Ujbulrl Credltors.. Amounts Fallln8 Dtse In One Year 9,8SO 950 Net airient assets lem current llabll1es 212,251 191,646 Total •ssets less ¢urrent Ilabllllle5 1,252,130 903,118 U•bmtl Credltor5: Amounts falllng due after more than one year 3.659 3,659 1,248871 10,113 10,1 893,005 Total nel amets less labllltles Rew$entsd Unrestrkted Unrestrl¢ted- General Fund5 109,962 82,921 DeSIate0 Designated- Le8acy Hustwayte Deslgnated- Vlcarage Redecoratlon 38,996 1,500 38,996 Restrlrted-'Crafty Church" Restrirted- Cathollc Llte Restrlrted- Communlty Organlser Restrlcted- fKbnatlons For Glfts Restrlcted- DWR Afghan Restrlcted- DWR Syrlan Restrlcted- Music And Worshlp Restrlrted- Natlonal Lottery CommvnSty Fund ar Communlty Organlsatlons Cost Of Llvln8 Fund Restrlcted- Parlsh Nurse Restrlcted- Vicarfs Discretionary Restrlrted- Warm Weekday 302 1.000 2,500 4,392 57 17.317 iii 9,149 500 24,459 iii 11,0051 4,B99 8,708 3.218 14,226 16.747 4,342 5,716 Endowmert Endowment- Endowment 1,039.879 1248A71 711,4n 893.005 Fund Tota15 The financial statements were approved by the Pccon 141hJufte 2025 and 51gnèd on It's behall by: Rd Dr Slmon Cuff IPCC Chalrman) Paul Snow l Treasurer) The notes on the follow1 pages form part of these finan al statèments. Page 11
St Peter’s Church, De Beauvoir Town, Hackney
Notes to the Financial Statements for the year ended 31 December 2024
1. Accounting Policies
The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared under the Charities Act 2011, Charities SORP (FRS102) and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.
Cashflow Statement
The Charity has taken advantage of the exemption in FRS102 from the requirement to produce a Cash flow Statement on the grounds that the income does not exceed £500,000.
Income Recognition
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Donations
Donations are accounted for gross when received. Fixed asset gifts in kind are recognised when receivable and are included at fair value.
Grant Income
Grant income is recognised when the amount can be measured reliably and there is a clear entitlement and certainty of receipt. Grants received which are subject to pre-conditions for entitlement or use specified by the donor which have not been met at the year-end are included in creditors.
Legacies
Legacies are accounted for when probate has been completed, the amount of the legacy can be reliably quantified and the conditions of the legacy are within the control of the church.
Rent and Investment Income
Rent and investment income is included in the accounts in the year in which it is receivable.
Expenditure Recognition
All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
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Costs of Raising funds
These are the costs of managing investments and giving facilitation costs.
Charitable Activities
Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the PCC and are allocated to appropriate subheadings dependent on the underlying activity.
Governance and Support Costs
Governance costs comprise all costs involving public accountability of the PCC and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources e.g. by allocating staff costs by time spent and other costs by their usage
Description of Funds
Unrestricted funds are income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its "free reserves" as disclosed in the trustees' annual report.
Restricted funds comprise of two elements:
- a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest
b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.
Endowment funds are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes to the financial statements
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Fixed Assets
Consecrated and benefice property is not included in the accounts by s.10(2)(a) & (C) of the Charities Act 2011.
Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case, the item is not capitalised, but all items are included in the Church’s inventory in any case.
Tangible fixed assets for use by the charity
These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost, or else, for gifts in kind, at a reasonable estimate of their market valuation on receipt.
Depreciation is calculated to write off the capitalised cost of fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:
-
Land Nil
-
• Fixtures and Fittings 20 years • Computers 3 years
Investment Property
In accordance with FRS102, investment properties are carried at their fair value and this is considered by the PCC annually and the aggregate surplus or deficit is recognised in the Endowment Fund. No depreciation is provided on investment properties.
Fiscal Investments
Investments are initially stated at cost. Subsequently they are measured at fair value with changes recognised in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be measured reliably.
Employee benefits
The PCC operates defined contribution plans for its employees. A defined contribution plan is a pension plan under which the PCC pays fixed contributions into a separate entity. Once the contributions have been paid, the PCC has no further payments obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the PCC in an independently administered fund. The PCC uses the National Employment Savings Trust (NEST) for this purpose.
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2. Analysis of income and expenditure
| Total | |
|---|---|
| Unrestricted Designated Restricted Endowment Thisyear Lastyear |
|
| RECEIPTS Planned giving 0105 - Regular giving Planned giving Totals Other voluntary receipts 0301 - Coll'n at services incl. white envelopes 0401 - Ad Hoc/One off Donation 0404 - Donation for gifts 0408 - Church suite and Contactless 0410 - DWR Afghan 0412 - Music and Worship 0413 - Warm Weekday 0416 - Vicar's discretionary 0417 - Festive refreshments 0418 - Parish nurse Other voluntary receipts Totals Gift Aid recovered 0601 - Gift Aid Collected 0602 - Gift Aid Collected - restricted 2023 Gift Aid recovered Totals Other receipts 0800 - Grant recurring 0801 - Grant non recurring 1205 - Musician fees 1206 - Other fees 1312 - Credit for utility overpayment Other receipts Totals Activities for generating funds 0901 - Fundraising activities 1220 - Hiring Crypt and church Activities for generating funds Totals Investment Income 1001 - Income from Endowment M&G 1002 - Income from Endowment CCLA 1003 - Interests from CCLA CBF a/c 623386001D 1004 - Interest from NW / UT deposits 1010 - Rent 16 De Beauvoir Investment income totals Receipts from church activities 1101 - Fees for PCC Receipts from church activities totals Receipts grand totals |
33,371 - - - 33,371 37,644 |
33,371 - - - 33,371 37,644 2,113 - 235 - 2,348 2,823 6,853 - 100 - 6,953 1,743 - - 153 - 153 - 9,314 - 3,154 - 12,468 15,981 - - - - - 1,700 - - - - - 715 - - 5 - 5 500 - - - - - 300 - - - - - 641 - - 363 - 363 2,643 |
|
18,280 - 4,011 - 22,291 27,045 17,994 - 508 - 18,501 13,464 - - - - - 1,816 |
|
17,994 - 508 - 18,501 15,280 - - 7,706 - 7,706 600 1,000 - 18,500 - 19,500 48,917 - - 2,360 - 2,360 260 3,969 - - - 3,969 1,066 247 - - - 247 1,977 |
|
5,217 - 28,566 - 33,782 52,819 12,922 - - - 12,922 5,487 87,105 - - - 87,105 67,332 |
|
100,027 - - - 100,027 72,818 831 - - - 831 5,261 14,052 - - - 14,052 4,963 3,040 - - - 3,040 9,792 957 - - - 957 324 27,314 - - - 27,314 25,551 |
|
46,194 - - - 46,194 45,891 2,318 - - - 2,318 624 |
|
2,318 - - - 2,318 624 |
|
223,400 - 33,084 - 256,483 252,121 |
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| PAYMENTS Cost of generating funds 1701 - Fees paid to fund raisers 1710 - Costs of fundraising Cost of generating funds Totals Missionary and Charitable Giving 1801 - Charitable Giving 1802 - Vicar discretionary fund 1804 - DWR Syria 1805 - DWR Afghan 1806 - Community Café 9901 - Gifts to individuals Missionary and Charitable Giving totals Parish Share 1901 - Common Fund Parish Share totals Clergy and Staffing costs 2001 - Administrator & events co'or 2002–Bookkeeper 2003 - Casual steward 2004–Organist 2005 - Music director 2006–Caretaker 2007 - Pension Scheme 2008–Musicians 2009 - Parish nurse’ssalary 2010 - Payroll fees 2012 - Community organizer 2101 - Vicar–expenses 2102 - Other clergy–expenses 2103 - Pastoral assistant expenses 2104 - Other staff expenses 2105 - Staff training Clergy and staffing costs totals Church running expenses 2203 - Noisy Church 2204 - General mission and evangelism cost 2214 - Warm Weekday 2215 - Catholic Life 2216 - Parish nurse 2217 - Community organiser expenses 2301 - Church running cost 2309 - Music and worship 2310 - Routine maintenance 2311 - Piano 2312 - Bank charges 2314 - Insurance 2402 - Gas & electricity 2403 - Water 2404 - Pest control 2406 - Refuse collection Church running expenses totals |
1,400 - - - 1,400 - 10,292 - 677 - 10,969 11,203 |
|---|---|
11,692 - 677 - 12,369 11,203 230 - - - 230 3,427 - - 36 - 36 - - - - - - 6,708 - - 7,142 - 7,142 10,467 251 - 832 - 1,083 - - - 874 - 874 201 |
|
481 - 8,883 - 9,365 20,803 50,000 - - - 50,000 50,000 |
|
50,000 - - - 50,000 50,000 11,583 - 240 - 11,823 11,528 6,000 - - - 6,000 5,788 6,342 - 4,440 - 10,782 7,040 2,650 - 90 - 2,740 810 11,344 - 520 - 11,864 12,678 9,312 - - - 9,312 9,931 3,746 - - - 3,746 3,042 325 - 2,343 - 2,668 3,310 - - 670 - 670 - 913 - - - 913 929 - - 1,600 - 1,600 - 1,183 - - - 1,183 1,414 1,448 - - - 1,448 513 11 - - - 11 - 3,428 - 312 - 3,740 4,515 7 - 2,059 - 2,066 258 |
|
58,293 - 12,275 - 70,568 61,756 200 - 390 - 590 - 9,166 - 18 - 9,184 4,833 - - 1,102 - 1,102 755 100 - 2,100 - 2,200 - - - 1,075 - 1,075 470 - - 1,161 - 1,161 - 9,630 - - - 9,630 6,779 - - 366 - 366 - 9,993 - - - 9,993 5,626 - - - - - 6,000 950 - - - 950 496 7,544 - - - 7,544 6,667 12,868 - 4,125 - 16,993 11,291 1,466 - - - 1,466 1,597 504 - - - 504 504 2,198 - - - 2,198 1,383 |
|
54,620 - 10,337 - 64,957 46,401 |
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| Hall Running Costs 2501 - Hire maintenance 2503 - Hire Cleaning 2504 - Other hire costs 2509 - Hire furniture 2519 - Refund of hire 2524 - Legal fees and surveyors Hall Running Costs Totals Church Repairs & Maintenance 2701 - Major Repair Church/Crypt 2901 - Major alterations Church Repairs & Maintenance Totals Hall Repairs & Maintenance 2810 - Major Repair - 16 De Beauvoir Hall Repairs & Maintenance Totals Governance Costs 2320 - Auditing & Examination Governance Costs Totals Payments Grand totals |
522 - - - 522 834 10,273 - - - 10,273 13,042 420 - - - 420 - 377 - - - 377 769 100 - - - 100 250 - - - - - 3,048 |
|---|---|
11,692 - - - 11,692 17,943 2,286 - - - 2,286 35,332 3,360 - - - 3,360 108 |
|
5,646 - - - 5,646 35,440 1,917 - - - 1,917 1,697 |
|
1,917 - - - 1,917 1,697 2,911 - - - 2,911 1,035 |
|
2,911 - - - 2,911 1,035 197,252 - 32,172 - 229,424 246,277 |
3. Staff Costs
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Gross Salaries | 49,781 | 46,965 |
| Employer National Insurance | - | - |
| Employer Pensions Contributions | 3,746 | 3,042 |
| Total | 53,527 | 50,007 |
| Average number of employees | 5 | 5 |
No employee received total emoluments in excess of £60,000 during the year. The PCC benefited from the government’s Employer National Insurance Allowance and hence no employer’s national insurance was payable in the year (2023: £nil)
Trustees
Trustees were reimbursed £202 for expenses incurred in the nature of their role during the year ended 31 December 2024 for (2023: £306). Trustee indemnity insurance with a liability cover of £250,000 has been taken out within the Parish Guard insurance policy premium with Ecclesiastical Insurance.
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4. Investment Property
| Valuation | 2024 £ |
2023 £ |
|---|---|---|
| As at 1 January | 260,000 | 260,000 |
| Revaluation | 316,000 | - |
| As at 31 December | 576,000 | 260,000 |
The PCC owns a freehold property at 16 De Beauvoir Road. It is held within the Endowment fund. As required under accounting standard FRS102, the property has been revalued to its fair value. The carrying value is the trustees ’ estimate of the fair value as at the year-end date.
5. Fiscal Investments
| Endowment Funds | 2024 £ |
2023 £ |
|---|---|---|
| As at 1 January | 451,472 | 422,365 |
| Purchases | 90,099 | - |
| Disposals | (90,099) | - |
| Change in market value |
12,407 | 29,107 |
| As at 31 December | 463,879 | 451,472 |
The investment portfolio holdings may be classified as £35,586 (2013: £88,294) in listed investments and £428,293 (2013: £363,178) in unlisted investments.
6. Creditors: Amounts falling due in one year
| 2024 £ |
2023 £ |
|
|---|---|---|
| Diocesan loan | 4,854 | - |
| Accruals | 3,242 | - |
| Agencycollections | 1,754 | - |
| Total | 9,850 | - |
7. Creditors: Amounts falling due after more than one year
| 2024 £ |
2023 £ |
|
|---|---|---|
| Diocesan loan | 3,659 | 10,113 |
| Fallingdue: | ||
| Within 1-2years | 3,659 | 10,113 |
The interest free loan is from the London Diocesan Board of Finance and is unsecured. It is repayable in 25 monthly payments and the repayment term commences once the first repayment has been made by the PCC.
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8.Operating Lease Commitments
As lessee, the charity has the following operating lease commitments payable at the year end date:
==> picture [212 x 75] intentionally omitted <==
----- Start of picture text -----
2024 2023
£ £
Due less than 1 year 519 692
Due 1-2 years 519
519 1,211
----- End of picture text -----
As lessor, the charity has the following operating lease income commitments at the year end date:
==> picture [212 x 75] intentionally omitted <==
----- Start of picture text -----
2024 2023
£ £
Due less than 1 year 27,537 26.540
27,537 26,540
----- End of picture text -----
9.Funds
The charity holds the following funds, and a description of their purpose is attached.
Designated funds
Vicarage redecoration - the fund relates to the redecoration of the Vicarage Legacy – The PCC have designated funds from the Hustwayte legacy to this fund.
Restricted funds
Crafty Church – The fund relates to the Crafty Church for children activity Catholic life – The fund relates to speakers on themes of Catholic Life
Community Organiser – The fund relates to grants and donations received to support the Community Organiser and Support administration of the PCC
Donations for Gifts - The fund relates donations for Gifts
DWR Afghan – The fund relates to De Beauvoir Welcomes Refugees from Afghan
DWR Syrian - The fund relates to De Beauvoir Welcomes Refugees from Syria
Music and Worship – The fund supports Music and Worship incl. choral scholars
National Lottery Community Fund – The fund related to grants for the Support for Community Organisations Parish nurse – The fund supports the work of the Parish Nurse
Vicar's discretionary – The fund relates to the Vicar's discretionary expenditure Warm weekday – The fund supports the Warm Weekday activity
Endowment funds
E – Endowment – The funds relate to fiscal proceeds reinvested from the disposal of a former property and hall. It also includes the investment property at 16 De Beauvoir Road.
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Fund movement summary - 2024
| Fund | Opening | Incoming | Outgoing | Transfers | Gains/Losses | Journals | Closing |
|---|---|---|---|---|---|---|---|
| Catholic life | |||||||
| Restricted | 2,500 | - | 2,500 | - | - | - | - |
| Sub-totals | 2,500 | - | 2,500 | - | - | - | - |
| Community Organisations Cost | of Living Fund | ||||||
| Restricted | 4,899 | - | 2,296 | (2,603) | - | - | - |
| Sub-totals | 4,899 | - | 2,296 | (2,603) | - | - | - |
| Community Organiser | |||||||
| Restricted | - | 7,706 | 3,313 | - | - | - | 4,392 |
| Sub-totals | - | 7,706 | 3,313 | - | - | - | 4,392 |
| Crafty Church | |||||||
| Restricted | 1,000 | - | 698 | - | - | - | 302 |
| Sub-totals | 1,000 | - | 698 | - | - | - | 302 |
| Donations for Gifts | |||||||
| Restricted | 500 | 221 | 874 | 210 | - | - | 57 |
| Sub-totals | 500 | 221 | 874 | 210 | - | - | 57 |
| DWR Afghan | |||||||
| Restricted | 24,459 | - | 7,142 | - | - | - | 17,317 |
| Sub-totals | 24,459 | - | 7,142 | - | - | - | 17,317 |
| DWR Syrian | |||||||
| Restricted | 111 | - | - | - | - | - | 111 |
| Sub-totals | 111 | - | - | - | - | - | 111 |
| Music and Worship | |||||||
| Restricted | (1,005) | 13,461 | 3,307 | - | - | - | 9,149 |
| Sub-totals | (1,005) | 13,461 | 3,307 | - | - | - | 9,149 |
| Parish nurse | |||||||
| Restricted | 8,708 | 10,379 | 2,340 | - | - | - | 16,747 |
| Sub-totals | 8,708 | 10,379 | 2,340 | - | - | - | 16,747 |
| Vicarage redecoration | |||||||
| Designated | 1,000 | - | - | 500 | - | - | 1,500 |
| Sub-totals | 1,000 | - | - | 500 | - | - | 1,500 |
| Vicar's discretionary | |||||||
| Restricted | 3,218 | 160 | 36 | 1,000 | - | - | 4,342 |
| Sub-totals | 3,218 | 160 | 36 | 1,000 | - | - | 4,342 |
| Warm weekday | |||||||
| Restricted | 14,226 | 1,157 | 9,667 | - | - | - | 5,716 |
| Sub-totals | 14,226 | 1,157 | 9,667 | - | - | - | 5,716 |
| General | |||||||
| Unrestricted | 82,921 | 223,400 | 197,252 | 893 | - | - | 109,962 |
| Sub-totals | 82,921 | 223,400 | 197,252 | 893 | - | - | 109,962 |
| E | |||||||
| Endowment | 711,472 | - | - | - | 12,407 | 316,000 | 1,0390879 |
| Sub-totals | 711,472 | - | - | - | 12,407 | 316,000 | 1,039,879 |
Page 20
Legacy
| Legacy | |||
|---|---|---|---|
| Designated 38,996 Sub-totals 38,996 |
38,996 | - - - - - 38,996 |
|
| - - - - - 38,996 |
|||
| Totals 893,005 |
256,483 229,424 - 12,407 316,000 1,248,471 |
||
| Notes Rent for community café use of premises Correction Annual top-upof fund Top-upof fund Cumulative total of above |
|||
| £ Transfers | from | to | Notes |
| 2,603 | Community Organisations |
General | Rent for community café use of premises |
| 210 | General | Donations forgifts | Correction |
| 500 | General | Vicarage redecoration | Annual top-upof fund |
| 1,000 | General | Vicar's discretionary | Top-upof fund |
| 893 | General | Cumulative total of above |
10. Net Assets as at 31 December 2024 by fund
| Class and nominal code General Designated Restricted Endowment Total Lastyear |
Class and nominal code General Designated Restricted Endowment Total Lastyear |
|---|---|
| Fixed Asset - Investments 6431: M&G Charifund Income Units G 6434: Vicarage & Hall Endowment B 6435: Vicarage Endowment C 6436: St Peter's Hall D Total Fixed Asset - Tangible Assets 6437: 16 De Beauvoir Road Total Current Asset - Cash at bank and in hand 20488851: Unity trust Current T2 20488864: Unity trust Instant Access 6501: NatWest Current account 6506: Soldo Business |
- - - 92,390 92,390 88,295 - - - 104,792 104,792 102,447 - - - 128,238 128,238 125,369 - - - 138,459 138,459 135,361 |
- - - 463,879 463,879 451,472 - - - 576,000 576,000 260,000 |
|
- - - 576,000 576,000 260,000 |
|
| 8,707 500 12,971 - 22,178 7,908 56,126 - - - 56,126 30,168 (69,366) 39,996 50,759 - 21,390 30,149 7,114 - (3,841) - 3,272 4,285 |
|
| 6510: CCLA (CBF) Deposit Account | 119,136 - - - 119,136 119,136 |
| Total Liability - Agency Accounts |
121,717 40,496 59,888 - 222,101 191,646 |
| 6699: Agency collections | - - 1,754 - 1,754 - |
| Total Liability - Creditors: Amounts falling due after more than one y 6601: Loans received Total Liability - Creditors: Amounts falling due in one year 6602: Loans received due inside 1 year 6800: Accruals Tota Net total assets |
- - 1,754 - 1,754 - ear 3,659 - - - 3,659 10,113 |
3,659 - - - 3,659 10,113 4,854 - - - 4,854 - 3,242 - - - 3,242 - |
|
| l 8,096 - - - 8,096 - |
|
109,962 40,496 58,134 1,039,879 1,248,471 893,005 |
Page 21
| Represented by General (Unrestricted) Designated - Legacy Designated - Vicarage redecoration Restricted - Catholic life Restricted - Community Organisations Cost of Living Fund Restricted - Community Organiser Restricted - Crafty Church Restricted - Donations for Gifts Restricted - DWR Afghan Restricted - DWR Syrian Restricted - Music and Worship Restricted - Parish nurse Restricted - Vicar's discretionary Restricted - Warm weekday Endowment - E Total |
109,962 - - - 109,962 82,921 - 38,996 - - 38,996 38,996 - 1,500 - - 1,500 1,000 - - - - - 2,500 - - - - - 4,899 - - 4,392 - 4,392 - - - 302 - 302 1,000 - - 57 - 57 500 - - 17,317 - 17,317 24,459 - - 111 - 111 111 - - 9,149 - 9,149 (1,005) - - 16,747 - 16,747 8,708 - - 4,342 - 4,342 3,218 - - 5,716 - 5,716 14,226 - - - 1,039,879 1,039,879 711,472 |
|---|---|
109,962 40,496 58,134 1,039,879 1,248,471 893,005 |
Page 22
11. Prior Year Comparative SOFA
Statement of Financial Activities for the year ended 31 December 2023
| Unrestricted funds Designated funds Restricted funds Endowment funds Total funds Prior year total funds |
|
|---|---|
| Receipts Planned giving Collections and other giving Other voluntary receipts Gift Aid recovered Other receipts Refund on utility overpayment Activities for generating funds Investment Income Receipts from church activities Total income Payments Cost of generating funds Missionary and Charitable Giving Parish Share Clergy and staffing costs Church running expenses Hall running costs Church repairs & maintenance Hall repairs & maintenance New building work Governance costs Total expenditure Net income / (expenditure) resources before transfer Transfers Gross transfers between funds - in Gross transfers between funds - out Other recognised gains / losses Gains/losses on investment assets Gains on revaluation, fixed assets, charity's own use Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
37,644 - - - 37,644 34,299 - - - - - 6,071 17,897 - 9,149 - 27,045 45,327 13,464 - 1,816 - 15,280 10,678 19,504 - 33,315 - 52,819 3,898 - - - - - - 72,818 - - - 72,818 56,897 45,891 - - - 45,891 41,592 624 - - - 624 1,985 |
| 207,842 - 44,279 - 252,121 200,746 10,996 - 207 - 11,203 1,265 3,628 - 17,175 - 20,803 10,272 50,000 - - - 50,000 25,000 56,292 - 5,463 - 61,756 48,076 38,726 - 7,675 - 46,401 91,561 17,943 - - - 17,943 31,208 35,440 - - - 35,440 - 1,697 - - - 1,697 - - - - - - - 1,035 - - - 1,035 1,417 |
|
| 215,757 - 30,520 - 246,277 208,799 |
|
| (7,916) - 13,759 - 5,844 (8,052) 20,422 500 11,064 - 31,986 230,602 (8,470) (13,000) (10,516) - (31,986) (230,602) - - - 29,106 29,106 (49,623) - - - - - - |
|
| 4,037 (12,500) 14,307 29,106 34,950 (57,675) |
|
| 78,884 52,496 44,309 682,366 858,055 915,730 |
|
| 82,921 39,996 58,616 711,472 893,005 858,055 |
Page 23