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← The Parochial Church Council Of The Ecclesiastical Parish Of St Luke, Watford

2024-12-31-accounts

St. Luke’s Church, Watford (Charity Reg. no. 1130376)

Annual Report and

Financial Statements 2024

Page 1 of 32

St Luke’s Church Wa�ord – Annual Report 2024

CONTENTS

ANNUAL REPORT AND FINANCIAL STATEMENTS
Vicar’s Introduc�on
PCC report
Looking at 2025 – Mission Ac�on Plan.
Financial statements
Statement of fnancial ac�vi�es
Balance sheet
Notes to the fnancial statements
Statement of PCC responsibili�es
Independent examiner’s report
Administra�ve informa�on		 Page
3
4
15
19
20
21
30
31
32

Page 2 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Vicar’s Introduc�on

“And we know that in all things God works for the good of those who love him, who[[][a][]] have been called according to his purpose.” Romans 8 v 28

2024 was an unexpected year of transition and a year of loss, but also with many spiritual green shoots and blessings.

We were mightily blessed by our series of dramas on Esther and the creation of a Beta follow up group (after a very positive Alpha in Autumn 2023) This group has up to 10 people who meet every Thursday.

The Wycliffe Mission week went well with very good activities, services and prayer visiting.

The unexpected came with three staff members announcing they were moving for various reasons in the Spring and early summer. We still miss them.

This led to a busy time of transition in the summer. One of those moving was Beth our administrator. We were very thankful for her time with us and pleased when we appointed Dorothy as her replacement. Jeremy Hogarth moved on after 7 years working in the office and as a music director, to return to study. Lydia our Children and family team leader took up a job in Sheffield after four years at St Lukes. We are very thankful for their ministries. Sadly, replacements for Jeremy H and Lydia's post have as yet to be filled.

There was great joy as we celebrated our Ordinand Tolu's ordination in June, however we all felt very shocked when it was announced that for training purposes she had chosen to make a sudden unexpected departure in late October. There were other feelings of loss as a number of Church members passed away and a few moved away.

However, God has blessed us!

  1. A predicted budget deficit of £36k by the end of the year was turned around to a £16K surplus. We praise God for his provision.

  2. We were joined by a number of new people, including a number from overseas. We are truly becoming a Church of all Nations.

  3. There were sermon series on Hebrews, Esther, Ephesians, the Ruthless elimination of hurry (Sabbath) and Healing. We were blessed by many gifted preachers delivering these sermons. My thanks to the Readers, other staff members and lay leaders of Worship for their contributions.

  4. Prayer has continued to grow in our church family and we give thanks for half days of prayer and weekly prayer meetings.

  5. Christmas was a highlight of the year with a very well attended nine lessons and carols and amazing Christingle and Nativity services.

  6. Contact with our local schools continues to grow and explore faith week run by ourselves, and Watford Schools Trust, saw many children from the Infant and Junior schools in our church. This has led to more openings especially at Cassiobury Junior School.

  7. The end of the year saw a great focus on Prayer and a big response with people taking the ‘Why pray?’ booklets at Christmas services. A real sign of God on the move.

  8. Our outreach groups: Breakfast club, Toddlers, Creative Space, Cassiobury and Nearby Community Choir, continue to go well, with signs of growth

We have entered 2025 expectant of things to come.

Page 3 of 32

Our Mission Action Plan stresses two key areas:

  1. Our church being a bridge to introducing people to Christ and

  2. To develop as a church family, meeting together more.

So, as we move through 2025, this will mean:

  1. A bridge - we will continue to reach out with prayer visiting, Alpha, our community outreach groups and more. Praying together on a monthly basis will be of great importance. An initiative to encourage people to form "Prayer Triplets" will be introduced in Lent

  2. Developing Church as Community - we hope to strengthen the sense of belonging to a church family with twice termly bring and share lunches after Sunday morning services and more people joining life groups and developing a particular ministry on singles.

  3. Signs of God on the move- With the Daniel plays and sermon series, confirmation in February, more corporate prayer and a call as a church as in Joshua 3 v 5 to consecrate ourselves to the Lord, so we are ready for Kingdom action, the future is very positive, despite the problems in the national Church life.

I believe that this year will be a year of consecration and moving forward in the Growth of God`s Kingdom among us.

May God indeed come afresh in love and power and lead us forward in 2025.

Yours in Christ Michael Norman Vicar

PCC Report

Aim and Purposes

Reverend Michael Norman, to promote the whole mission of the Church - pastoral,

We want to help ordinary people to live out their faith in Jesus every day, encouraging and

goals for 2024.

Page 4 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Priori�es

  1. Rediscovering and developing corporate worship and prayer

  2. Growing our children, youth and family ministry through faithful bible teaching and the outward working of our faith.

  3. Reaching out in obedience to scripture, to those on our estate and beyond with the good news of Jesus Christ found in God’s living word

Goals for 2024 (Jan-Dec)

  1. Rediscovering and developing corporate worship and prayer.

  2. increase half days of prayer to 6 �mes a year and look to develop later in the year.

  3. increase use of scripture in our worship and preaching.

  4. revamp the evening Encounter with an emphasis on healing with the prayer ministry team in ac�on every week, including the morning by the end of the year.

  5. provide opportuni�es for extended worship, either as part of a half day of prayer, Sunday services, or at other �mes.

  6. con�nue to build morning and evening worship teams, training up newcomers and young people and mee�ng monthly to pray for each other and have fellowship.

  7. Growing our children, youth and family ministry through faithful bible teaching and the outward working of our faith.

  8. provide bridges for those a�ending church groups, other than Services, to enquire about following Jesus and becoming more involved in church life. These groups include all children and Youth Groups, Holiday Club, etc.

  9. engage children, youth, and families in Sunday worship with an all-age produc�on of Esther.

  10. use our ordinand and soon-to-be curate to help con�nue developing our family ministry.

  11. con�nue to develop the Saturday morning Breakfast Club as an important opportunity for family ministry.

  12. outreach.

  13. con�nued prayer visi�ng during the Spring and Summer with an enhanced team of 16.

  14. to further develop our church as a welcoming community for people to join especially

  15. through meals in groups or with individuals.

  16. work

Overview of Ac�vi�es and Achievements

Developing and deepening our culture of prayer and worship

Page 5 of 32

 A Prayer Ministry team

service.

Cooke has been developing a dedicated group of volunteer musicians who make a

and to encourage and thank the leaders.

Reaching out to our parish, to one another, to our world

==> picture [43 x 10] intentionally omitted <==

----- Start of picture text -----
Quiz night
----- End of picture text -----

that we would like to meet people who live in our parish; get to know them a bit; listen to them; and offer prayer for anything that is on their heart. We visit in twos

very low key and usually much more enjoyable than we expect!

Finding people at home can be a problem and so we'll also go back a few days

Page 6 of 32

people - we each have to be ourselves. But seeing how generous they were in

from another 160 homes. By the end of 2025, there is only one road in the parish

over half are not from the church. Our Craft activitiesivities h host aroundround 25-3025-30 ladiladies, monthly Saturday morning events started with fellowship over breakfast and was followed by a five-minute ‘God slot’

women"

 The Cassiobury and nearby Community Choir (CanCC)

include a range of talented guest musicians, drawing in a modest audience from both within and outside of St Luke’s community.  ther reaching out initiatives continue weekly with Community Coffee after the Tuesday 10.00am service, and

monthly with Friday Club

nearby.

Badminton Club

Page 7 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Page 8 of 32

We were sad to say goodbye to Lydia in August, our Children and family children not only in the church but also in the local community and she team leader for 4 years. She has made a great contribution to many will be sorely missed. We advertised for a new Children and family team leader but did not appoint anyone. Neil led a helpful meeting of Children and Youth Committee and youth volunteers around the difficult subject of sexuality and relationships regarding our ministry among young people.

Highlights of 2024:

community groups came and used the space.

local teenagers.

plus Children discovered Jesus as their Friend, Rescuer, Teacher and the Word. - , , Christmas Holiday Club Alternative to Halloween Shorts Light aimed to Club and keep contact during the year with Summer Holiday club families

Luke’s in November.

Christmas story. Watford Borough Council have awarded us £640 from their locality budget for which we are grateful and enjoying planning to spend.

Page 9 of 32

St Luke’s Church Wa�ord – Annual Report 2024

new team of enthusias�c volunteers, we hope to see the club thriving again in the New Year.

We have also heard about the 3 vacancies that there are at present in the Wa�ord Deanery and that vacancies may last longer than usual because of financial constraints. 2025 is to be a Year of Spiritual Renewal and Wellbeing in the Diocese with special mee�ngs planned.

Page 10 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Annual Fabric Report 2024

We are blessed with our excellent buildings which provide a focus for the community as well as our own ministry. However, the church buildings are showing the effect of age, it being over 18 years since the new church was built. In addi�on, the buildings are being used more extensively and are showing signs of wear and tear. We budget for repairs and general maintenance and are planning to have a celebra�on refresh of some building areas for the church’s 20[th] anniversary in 2026.

We are grateful to all those who volunteer their �me to assist with building maintenance. If you would consider joining a group of people who could work together so we can keep the buildings looking beau�ful and func�oning well in the future, we would love to hear from you.

Additions to articles appertaining to the fabric of the church:

Maintenance work carried out during the year:

Health and Safety report for APCM April 2025

Page 11 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Thanks must be expressed to all those who give up so much of their �me to ensure that the buildings and grounds are kept clean, �dy and properly maintained.

Risk Management

The PCC considers that the principal risks faced by St Luke’s have been:

Safeguarding 2024

The PCC is committed to doing all we can to ensure that any vulnerable person coming to St Luke's is kept safe and protected.

The care and protection of children, young people and adults involved in church activities is the responsibility of everyone who participates in the life of the church.

The Parish Safeguarding Officer and Lead Recruiter ensure that effective and correct documentation and procedures are in place and followed. During 2024, they have worked with the Church Administrator, a Church Warden and the Health and Safety person to check that each church and non-church activity has a Risk Assessment and Safeguarding Policy in place.

They also arrange and monitor DBS and training for individuals with any sort of involvement and ensure that accurate records are maintained on the Parish Dashboard. 5 new DBS certificates have been issued and 47 DBS certificates have been checked using the DBS Update Service.

The Dashboard now has a secure Safeguarding Hub with a Role Creator and a People Manager. 100 members of our congregation are now listed on the People Manager, performing a variety of 29 roles within the church. During 2024, we have completed the process of compiling a digital Role Description for each voluntary role with a preface which states the Mission Action Plan goals for the current year and an invitation to prayer. All these details are uploaded on to the Parishes Safeguarding Dashboard although no personal information is recorded.

The PCC reviews all safeguarding documentation annually and regularly receives reports on safeguarding activity.

The PCC considers it has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to the House of Bishop’s guidance on safeguarding children and vulnerable adults).

Page 12 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Financial

proper authorisa�on of all payments and segrega�on of du�es. The PCC sets the annual budget and scru�nises monthly management accounts, which analyse variances to budget and prior year. At every mee�ng the treasurer delivers a report.

GDPR

Structure, Governance and Management

The PCC is a corporate body established by the Church of England. It operates under the Parochial Church Council Powers Measure. The PCC is a Registered Charity (No 1130376).

The method of appointment of PCC members is set out in the Church Representa�on Rules. At St Luke’s the membership of the PCC consists of the incumbent (our vicar), churchwardens, one of the readers and members elected by those members of the congrega�on who are on the electoral role of the church. All those who a�end our services are encouraged to register on the electoral roll and stand for elec�on to the PCC. Two of the elected places are reserved ini�ally for youth aged 16-18, if they wish to stand.

The PCC is responsible for making decisions on all ma�ers of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent.

The full PCC met 6 �mes during the year. Given the breadth of its responsibili�es, the PCC has sub-commi�ees and working par�es dealing with specific aspects of parish life:

Sub-commi�ees

Working par�es

Page 13 of 32

Safeguarding Officer, Lead Recruiter/DBS Administrator and GDPR Officer.

There are two other working groups at St Luke’s which report directly to the vicar:

A thank you to all

work so hard to make our church the lively and vibrant community that it is:

visit and pray.

Page 14 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Whenever we prepare a list such as this, we are astonished at just how much is being done, and by so many. We thank each one of you – and give thanks to God for you.

LOOKING to 2025 - MISSION ACTION PLAN

St Luke’s Vision

A beacon of light and love; a lighthouse, with small boats going out to rescue people. We are to be a place that shines the Father’s light, love and safety into the world. We are reaching out with the gospel of Jesus Christ in the power of the Holy Spirit to rescue those drowning in the sea of life.

Priority 1 : to create a strong sense of family amongst our church body, keeping God at the center of it all and encouraging one another to take an ac�ve part in family life.

Priority 2 : to provide good bridges through our friendships with those we meet in the wider community.

Goals for 2025 (Jan-Dec)

Priority 1 :

Page 15 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Prayer and Worship:

Singleness:

Priority 2 :

Gathering area:

Children, youth and families:

Publicity:

Page 16 of 32

FINANCIAL REVIEW AND RESERVES POLICY

Our financial statements reveal a surplus in unrestricted funds in 2024 of £15.9k with an additional £4.8k for last year’s carryover in the Partners in Mission [PIM] giving fund and £50k revaluation of 23 Orchard Close in unrestricted funds. The surplus compares with a deficit of £3.1k in 2023.

A significant deficit had been anticipated from the budget but several factors ensured a surplus. Saving items that of note are:

Significant items to compare between 2024 vs 2023 results are as follows:

INCOME

EXPENDITURE

Major items of cost anticipated this year carrying out works on the church fabric including some energy saving issues and employment of a new children’s worker.

General reserve

This fund handles all the church’s regular income and operating costs.

The church continues to pay its full parish quota which was £120.9k which included four month’s payment for a curate.

Designated Fund

Each year the PCC reviews the value of its unrestricted reserves. In line with last year, an operating general reserve of over £40k is retained. This represents the amount the PCC thinks is necessary to operate in the normal course of events. This allows for income that is sometimes sporadic, whilst major costs are monthly namely for staff, parish quota and utilities and also gives due consideration to the reserves held. Funds which are tied up in fixed assets are held in the Capital Reserve. The PCC decides when and how it anticipates that any additional unrestricted funds will be used and move them to and in the Designated Fund. At year-end the PCC designated fund for future use was £140.8k as follows:

Page 17 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Earmarked Fund

This fund is used to hold and distribute amounts given for specific purposes. £13.3k was received and £8.4k paid out during the year. This included £2.1k for the Diocese Harvest Appeal and £1.9k towards for Christmas hampers.

Partnership Fund

The Partnership appeal for 2024 raised £20k for Nireekshana’s new clinic and community centre in Hyderabad, India.

Balance Sheet

Total assets have increased from £875k to £948k.

Approved by the PCC on 1 April 2025 and signed, on its behalf by Michael Norman (Chair of PCC)

…………………………………………………….

Page 18 of 32

St Luke’s Church Wa�ord – Annual Report 2024

PAROCHIAL CHURCH COUNCIL OF ST LUKE’S, WATFORD

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2024

Notes
Income from:
Donations and legacies
3(a)
Charitable activities
3(b)
Other trading activities
3(c)
Investments
3(d)
Other income
3(e)
Total income
Expenditure on:
Charitable activities
Grants
4(a)
Other charitable activities
4(b)
Total expenditure
Net income before gains/(losses) on
investments
Net gains/(losses) on investments
Revaluation of 23 Orchard Close
Net income/(expenditure)
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
Restricted
funds
Total funds
2024
2023
£
£
£
£
227,473
30,339
257,812
226,038
85,052
682
85,734
73.642
17,306
0
17,306
16,549
7,894
0
7,894
6,359
415
0
415*
300
338,140
31,021
369,161
322,888
29,772
28,602
58,374
38,207
288,303
0
288,303
288,452
318,075
28,602
346,677
326,659
20,065
2,419
22,484
(3,771)
700
0
700
1,304
50,000
0
50,000
0
70,765
2,419
73,184
(2,467)
70,765
2,419
73,184
(2,467)
862,017
12,836
874,853
877,320
932,782
15,255
948,037
874,853

*Comparative figures for Funds for 2023 are set out in Note 2

Page 19 of 32

St Luke’s Church Wa�ord – Annual Report 2024

PAROCHIAL CHURCH COUNCIL OF ST LUKE’S, WATFORD

BALANCE SHEET

at 31 December 2024

Notes
Fixed assets
Tangible
6(a)
Investments
6(b)
Current assets
Debtors
7
Short term deposits
Cash at bank and in hand
Current liabilities
(Amounts falling due within one year)
8
Net current assets
Net assets
Funds
Unrestricted
10
Restricted
11		 2024
2023
£
£
750,000
700,000
23,891
23,191
773,891
723,191
11,228
10,318
160,164
138,707
10,529
12,505
181,921
161,530
(7,775)
(9,868)
174,146
151,662
948,037
874,853
932,782
862,017
15,255
12,836
948,037
874,853

Approved by the Parochial Church Council on 1 April 2025, and signed on its behalf by:

------------------------------------------------------------------------------------Michael Norman Martin Kirk Chair, St Luke’s Parochial Church Council Treasurer

The notes on pages 21 to 29 form part of these financial statements

Page 20 of 32

St Luke’s Church Wa�ord – Annual Report 2024

PAROCHIAL CHURCH COUNCIL OF ST LUKE’S, WATFORD NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024

1 ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and the Charities Statement of Recommended Practice (SORP) FRS102. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of land and buildings and investments. The PCC is a Public Benefit Entity as defined by FRS 102.

Critical accounting estimates and judgements

In the application of the PCC’s accounting policies, the members of the PCC 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.

Going concern

The members of the PCC assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the PCC to continue as a going concern. The members of the PCC make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the PCC has adequate resources to continue in operational existence for the foreseeable future. Thus, the PCC continues to adopt the going concern basis of accounting in preparing the accounts.

Funds

Unrestricted funds represent funds of the PCC that are not subject to any restrictions regarding their use and are available for use for the general purposes of the PCC. The General Reserve holds the liquid funds which the PCC believes are necessary to run the church in the normal course of events; the Capital Reserve represents those unrestricted funds which are tied up in the form of fixed assets; and the Designated Fund contains unrestricted liquid funds which have been designated for specific purposes by the PCC.

Earmarked Fund handles funds which have been donated for a specific purpose. These funds are restricted.

Partnership Fund (previously Thanksgiving Fund) handles funds donated by way of major appeal, to enable the Church to make specific grants to other churches and Christian organisations. This fund is also restricted.

The accounts 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.

Income

Voluntary income and activities for generating funds:

Collections are recognised when received by or on behalf of the PCC. Income tax recoverable on gift aid donations is recognised when the donations are recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due.

Funds raised at social and similar events are accounted for gross. Sales of books and magazines are accounted for gross.

Activities related to church work

Rental income from the letting of church premises is recognised when the rental is due.

Investment income

Interest and dividends are accounted for when receivable.

Page 21 of 32

St Luke’s Church Wa�ord – Annual Report 2024

Expenditure

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. The PCC has decided to make total grants in the year equal to 10% of the non-specific income to the General Fund. Grants are made to support living and other costs of other charities or individuals who have or have had a personal, established connection to St Luke’s church. The grants are made in support of the primary objects of the PCC.

Activities relating to church work

The diocesan parish share is accounted for when payable.

Fixed assets

Consecrated land and buildings and movable church furnishings

Consecrated and beneficed property is excluded from the accounts by s.10 of the Charities Act 2011. All of St Luke’s premises, with the exception of the Large Hall (formerly the church), the Chapel and 23 Orchard Close, are consecrated.

No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property.

All expenditure incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.

Other fixtures, fittings, furniture and office equipment

Fixtures and fittings are depreciated on a straight line basis over 5 years and furniture and equipment over 4 years. Individual items costing less than £1,000 are not capitalised but are fully written off in the year of acquisition.

Current assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable .

Cash and cash equivalents include cash in hand, deposits held at call with banks. Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.

Financial instruments

The PCC 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.

Financial instruments are recognised in the PCC's balance sheet when the PCC becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Creditors and provisions

Creditors and provisions are recognised where the PCC has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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St Luke’s Church Wa�ord – Annual Report 2024

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the PCC’s contractual obligations expire or are discharged or cancelled.

Risk Management

Financial risk is managed through budgets and regular reporting of the management accounts to the PCC.

2
COMPARATIVE NUMBERS FOR 2023
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
Total income
Expenditure on:
Charitable activities
Grants
Other charitable activities
Total expenditure
Net (expenditure) before gains/(loss) on
investments
Net (losses) on investments
Revaluation of 23 Orchard Close
Net income/(expenditure)
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total funds
£
£
£
218,329
7,709
226,038
73,403
239
73,642
16,549
0
16,549
6,359
0
6,359
300
0
300
314,940
7,948
322,888
30,950
7,257
38,207
288,452
0
288,452
319,402
7,257
326,659
(4,462)
691
(3,771)
1,304
0
1,304
0
0
0
(3,158)
691
(2,467)
(3,158)
691
(2,467)
865,175
12,145
877,320
862,017
12,836
874,853

Page 23 of 32

St Luke’s Church Wa�ord – Annual Report 2024

PAROCHIAL CHURCH COUNCIL OF ST LUKE’S, WATFORD NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2024

3
INCOME FROM:
3(a)Donations and legacies
Planned Gift Aided
Unplanned Gift Aided
Income tax recoverable
CAF & Stewardship
Other planned giving
Cash collections & donations
Legacies
Grants
3(b)Charitable activities
Room lettings
Church events
Fees
Other related to church work
Books and photocopies
3(c)
Other trading activities
Rent received from Orchard Close
Fund raising
3(d)
Investments
Interest and dividends
3(e)
Other income
Total income		 Unrestricted
Restricted
Total funds
Funds
Funds
2024
2023
£
£
£
£
141,442
0
141,442
131,491
23,483
18,499
41,982
17,700
43,334
4,625
47,959
39,497
3,825
3,950
7,775
4,345
4,318
0
4,318
9,302
11,071
3,265
14,336
10,944
0
0
0
12,509
0
0
0
250
227,473
30,339
257,812
226,038
68,415
0
68,415
58,643
8,257
0
8,257
9,354
4,165
0
4,165
2,058
4,166
682
4,848
3,499
49
0
49
88
85,052
682
85,734
73,642
17,306
0
17,306
16,549
0
0
0
0
17,306
0
17,306
16,549
7,894
0
7,894
6,359
7,894
0
7,894
6,359
415
0
415
300
338,140
31,201
369,161
322,888

Page 24 of 32

St Luke’s Church Wa�ord – Annual Report 2024

PAROCHIAL CHURCH COUNCIL OF ST LUKE’S, WATFORD NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2024

4
EXPENDITURE ON:
4(a)Grants
Overseas work
UK work
Local work
4(b)
Other charitable activities
Parish Share
Utility costs
Other premises running costs
Youth and children
Music director and music costs
Administration
Church events
Printing and stationery
Adult groups and outreach
Catering
Vicar’s expenses
Books & bible notes
Governance costs (note 14)
Total expenditure
5
STAFF COSTS
Salaries and allowances
National Insurance
Pensions		 Unrestricted
Restricted
Total funds
Funds
Funds
2024
2023
£
£
£
£
12,962
23,590
36,552
22,827
3,000
75
3,075
3,675
13,810
4,937
18,747
11,705
29,772
28,602
58,374
38,207
120,953
0
120,953
115,439
25,519
0
25,519
29,195
34,205
0
34,205
26,057
36,741
0
36,741
42,422
29,200
0
29,200
30,355
26,226
0
26,226
31,222
4,083
0
4,083
4,663
2,467
0
2,467
2,893
3,463
0
3,463
1,811
1,680
0
1,680
1,239
2,938
0
2,938
2,406
0
0
0
0
828
0
828
750
288,303
0
288,303
288,452
318,075
28,602
346,677
326,659
2024
2023
£
£
£
£
56,051
0
56,051
68,194
0
0
0
0
3,328
0
3,328
4,076
59,379
0
59,379
72,270

During the year the PCC employed an Administrator, a Worship Leader / Administrator, a Youth Director, and a Children & Families leader. None earned more than £60,000 pa. No member of the PCC received remuneration or reimbursement of expenses, except as referred to in Notes 13 and 15. The PCC contributes to a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to the statement of financial activities in the year that they are payable. The amounts paid during the year are as shown above.

Page 25 of 32

St Luke’s Church Wa�ord – Annual Report 2024

PAROCHIAL CHURCH COUNCIL OF ST LUKE’S, WATFORD NOTES TO THE FINANCIAL STATEMENTS (continued)

For the year ended 31 December 2024

6
FIXED ASSETS FOR USE BY THE PCC
6(a)
Tangible
Cost or valuation
At 1 January
Additions
Disposals
Revaluation adjustment
At 31 December
Depreciation
At 1 January
Charge for the year
Disposals
At 31 December
Net book value
At 1 January
At 31 December		 2024
2023
Land &
Building
Furniture
Fittings &
Equipment
Total
Total
£
£
£
£
700,000
24,946
724,946
724,946
50,000
0
50,000
0
0
0
0
0
0
0
0
0
750,000
24,946
774,946
724,946
0
24,946
24,946
24,946
0
0
0
0
0
0
0
0
0
24,946
24,946
24,946
700,000
0
700,000
700,000
750,000
0
750,000
700,000

In accordance with the appropriate accounting policy (based on the Charities Act 2011 and the Charities SORP (FRS102)), the cost of the new church and associated buildings has been excluded, as the whole complex comprises Consecrated Land & Buildings.

The PCC regards all the moveable church furniture and fittings (primarily the seating, audio-visual equipment and the organ) as inalienable property which would require a faculty for disposal.

The value of 23 Orchard Close is based on the PCC’s reasonable best estimate having regard to local market conditions as at 31 December 2024.

6(b)
Investments
Market value at 1 January
Additions at cost
Revaluation
Market value at 31 December		 £
£
23,191
21,887
0
0
700
1,304
23,891
23,191

During the year an investment has been held for the Unrestricted Funds in the CBF Church of England Fixed Interest Fund. The holding throughout the year has been 16,021.53 shares and the value per share at 31 December 2024 was 149.12p (144.75p at 31 December 2023).

Page 26 of 32

St Luke’s Church Wa�ord – Annual Report 2024

PAROCHIAL CHURCH COUNCIL OF ST LUKE’S, WATFORD NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

7
DEBTORS
Income tax recoverable
Accrued income/Trade Debtors
Prepayments & deposits
8
AMOUNTS FALLING DUE WITHIN ONE YEAR
Creditors for goods and services
Accrued expenses
Room hire deposits held
Other creditors
9
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
Funds
Funds
£
£
Fixed assets
773,891
0
Current assets
166,666
15,255
Current liabilities
(7,775)
0
Fund balance
932,782
15,255		 7
DEBTORS
Income tax recoverable
Accrued income/Trade Debtors
Prepayments & deposits
8
AMOUNTS FALLING DUE WITHIN ONE YEAR
Creditors for goods and services
Accrued expenses
Room hire deposits held
Other creditors
9
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
Funds
Funds
£
£
Fixed assets
773,891
0
Current assets
166,666
15,255
Current liabilities
(7,775)
0
Fund balance
932,782
15,255		 2024
2023
£
£
3,889
4,268
5,367
4,064
1,972
1,986
11,228
10,318
2024
2023
£
£
1,466
2,233
5,871
6,516
200
632
238
487
7,775
9,868
Total funds
2024
2023
£
£
773,891
723,191
181,921
161,530
(7,775)
(9,868)
932,782
15,255		 948,037
874,853

Page 27 of 32

St Luke’s Church Wa�ord – Annual Report 2024

PAROCHIAL CHURCH COUNCIL OF ST LUKE’S, WATFORD NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

10
UNRESTRICTED FUND DETAIL
General reserve
Capital reserve
Designated fund		 2024
£
2023
£
41,970
40,884
750,000
700,000
140,812
121,133
932,782
862,017

The Designated fund represents unrestricted funds in excess of that required to operate in the normal course of events, and which is not tied up in fixed assets. The PCC need to disclose how it anticipates such funds will be used.

The current balance of £140,812 comprises:

For 2024 the designated fund had been split as follows: £47,500 curate housing fund, £27,500 energy fund, £30,000 long term maintenance fund, £15,000 budget deficit fund for ending 2023 and £1,133 Partners In Mission carry over from 2023.

11
RESTRICTED FUND DETAIL
Earmarked Fund
Partnership Fund		 2024
2023
£
£
15,255
10,306
0
2,530
15,255
12,836

12 STATEMENT OF FUNDS

Fund name
General reserve
Capital reserve
Designated fund
Earmarked
Partnership
TOTAL FUNDS		 Balance b/f
Income
Expense
Gain/(loss)
/transfer
Balance c/f
£
£
£
£
£
40,884
338,140
(316,942)
(20,112)
41,970
700,000
0
0
50,000
750,000
121,133
0
(1,133)
20,812
140,812
10,306
13,338
(8,389)
0
15,255
2,530
17,683
(20,213)
0
0
874,853
369,161
(346,677)
50,700
948,037

Page 28 of 32

St Luke’s Church Wa�ord – Annual Report 2024

PAROCHIAL CHURCH COUNCIL OF ST LUKE’S, WATFORD NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024

12 STATEMENT OF FUNDS (continued) COMPARATIVE NUMBERS FOR 2023

Fund name Balance b/f Income Expense Gain/(loss)
/transfer		 Balance c/f
£ £ £ £ £
General reserve 40,185 314,940 (319,545) 5,304 40,884
Capital reserve 700,000 0 0 0 700,000
Designated fund 124,990 0 143 (4,000) 121,133
Earmarked 9,641 7,923 (7,257) 0 10,306
Partnership 2,504 25 0 0 2,530
TOTAL FUNDS 877,320 322,888 (326,659) 1,304 874,853
13 TRUSTEES’ REMUNERATION, BENEFITS AND EXPENSES 2024 2023
£ £
` Expenses paid to Trustees (Vicar’s working expenses) 4,199 2,406
Expenses paid to Trustees (Warden) 196 36
Expenses paid to Trustees (Other PCC member) 258 -
No of Trustees receiving expenses 3 2
14
GOVERNANCE COSTS
Fees for Independent Examiner_(incl adjustment for 2023)_
15
RELATED PARTY TRANSACTIONS
Income
Rent received from trustee in respect 23 Orchard Close
PCC consider the rent to be at an appropriate level
Expenses
Fees paid to Music Director		 828
750
17,306
16,549
23,689
21,651

Grants

Some members of St Luke’s or their family are involved with other Christian charities and organisations. We encourage such people to serve on PCC and its sub-committees because they help keep our prayer and discussion well-informed and relevant - in particular dealing with spending priorities and the financial grants or gifts we may wish to make.

No individual can make spending or giving decisions alone - and where an individual is part of a group which makes such decisions, they are not allowed to vote on any proposal involving a party to which they have a close connection. During the year, St Luke's made donations to the following organisations in which a PCC or PIM sub-committee member has a close connection.

OMF International 2,000 2,000
Watford New Hope Trust 4,500 2,000
Friends International 2,000 2,050
Alternatives Watford 1,420 1,000
Watford Foodbank 190 150

Page 29 of 32

St Luke’s Church Wa�ord – Annual Report 2024

STATEMENT OF PCC RESPONSIBILITIES IN RESPECT OF THE ANNUAL REPORT AND FINANCIAL STATEMENTS

The Charities Act 2011 requires the PCC to prepare financial statements for each financial year, which give a true and fair view of the PCC’s financial activities during the year, and its financial position at the end of the year. In preparing financial statements, the PCC seeks to:

PCC members have overall responsibility for ensuring the PCC has appropriate systems of controls, financial and otherwise. They are also responsible for keeping proper records which disclose and explain with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the financial statements comply with the 2011 Act. They are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to ensure that:

As far as the PCC is aware, there are no relevant examination information (information needed by the PCC’s independent examiner (“Examiner”) in connection with preparing this report) of which the Examiner is unaware. Each member of the PCC has taken all the steps that they ought to have taken as members of the PCC in order to make themselves of any relevant examination information and to establish that the Examiner is aware of that information.

Page 30 of 32

St Luke’s Church Wa�ord – Annual Report 2024

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ST LUKE’S PAROCHIAL CHURCH COUNCIL

I report to the trustees on my examination of the accounts of Parochial Church Council (“PCC”) for the year ended 31 December 2024.

Responsibilities and basis of report

As members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the PCC’s accounts 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 PCC has prepared accounts 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 accounts 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.

Since the PCC’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

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

Gary Howard FCA Howard Wilson Chartered Accountants 36 Crown Rise

Watford Hertfordshire WD25 0NE Date: 3 April 2025

Page 31 of 32

St Luke’s Church Wa�ord – Annual Report 2024

ADMINISTRATIVE INFORMATION

St Luke’s church is situated in Langley Way, Watford. It is part of the Diocese of St Albans within the Church of England. The correspondence address is Church Office, St Luke’s Church, Langley Way, Watford, WD17 3EG.

PCC members who have served at any time from 1 January 2024 until the date of this report are listed below. Where a member has served only part of that period, the relevant month of appointment or resignation is shown.

Ex-officio Appointed Resigned
Revd Michael Norman Vicar
Revd Tolulope George Curate June 2024 October 2024
Dave Clarke Reader
Susan Miller Churchwarden
John Williamson Churchwarden
Elected
Mary Bowen Deanery Synod
Mave Clarke Deanery Synod
Ann Macleod Deanery Synod
Phil Matthews Deanery Synod
Adrian Booth May 2024
Helen J Booth May 2024
Fiona Craigie
Colin Davies
Mo Fasanya
Margaret Forester May 2024
James Harvey May 2024
Wera Irvine
Mar�n Kirk
Katie Llewellyn May 2024
Philip Meager May 2024
Olufunsho Oladuji May 2024
Pam Reynolds
Melanie Sills
Dean Tearle May 2024
Simon Trundle
Richard Waddington May 2024
Incumbent: Revd Michael Norman
Independent Examiner: Gary Howard FCA
Howard Wilson Chartered Accountants
36 Crown Rise
Watford
WD25 0NE
Bank: Barclays Bank plc
High Street
Watford

Page 32 of 32