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 _Page 2_ ## **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 _Page 3_ 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. _Page 4_ ## **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. _Page 5_ ## 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. _Page 6_ ## **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. _Page 7_ 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** _Page 9_ ## **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**| _Page 10_ 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 9￿50 Net airient assets lem current llabll1￿es 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 DeSI￿ate0 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: R￿d 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. _Page 12_ ## **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 _Page 13_ ## **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. _Page 14_ ## **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**| _Page 15_ |**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**| _Page 16_ |**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. _Page 17_ ## **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. _Page 18_ ## **8.Operating Lease Commitments** As lessee, the charity has the following operating lease commitments payable at the year end date: **----- 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: **----- 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. _Page 19_ ## **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_