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Annual Report and Financial Statements

for the Year Ended 31 December 2022

The Parochial Church Council of the Ecclesiastical Parish of the Barnsbury Team Ministry

Charity registration number: 1130552

Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

Reference and Administrative Details	1
Trustees' Report	2 to 4
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8 to 19
The following pages do not form part of the statutory financial statements:	20 to 27
St Andrew's Church: Income and Expenditure	20
St Andrew's Church: Balance Sheet and Funds	21
All Saints' Church: Income and Expenditure	22
All Saints' Church: Balance Sheet and Funds	23
Church on the Corner: Income and Expenditure	24
Church on the Corner: Balance Sheet and Funds	25
Parish: Income and Expenditure	26
Parish: Balance Sheet and Funds	27

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees

Revd Ted Fell

Revd Mark Fletcher

Helen Codling

Roland Jones Stavroulla Andreou Ian Bruce Anthony Codling Claudette Crammer (resigned 30 September 2022) Will Groat Elena Heatley Hon. Jacob Madams

Kathleen Hawkins

Barbara Hooker

Azhar Jomaa Stephanie O'Donnell Richard Parker Eleonora Simeone Sarah Wall (resigned 24 May 2022) Simona Valeriani Catherine Oborne Helen Coffey

Revd S. Caroline Titley (appointed 27 February 2022)

Charity Registration Number

1130552

Principal Office

Independent Examiner

St Andrew's Church Thornhill Square LONDON N1 1BQ G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF

Page 1

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

TRUSTEES' REPORT

The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2022.

Structure, governance and management

Nature of governing document

The Parochial Church Council (PCC) is registered with the Charity Commission as required by the Charities Act 2011. Its governing document is the Parochial Church Councils (Powers) Measure 1956.

Risk management

The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Objectives and activities

Objects and aims

The primary object of Barnsbury Team PCCs promotion of the gospel of Our Lord Jesus Christ according to the doctrines and practices of the Church of England.

The PCC has the responsibility of cooperating with The Revd S Caroline Titley and other clergy in the parish - Revd Ted Fell (All Saints Church) and Revd Mark Fletcher (Church on the Corner).

Together they promote as a whole in the ecclesiastical parish the whole mission of the church in terms of pastoral work, evangelistic outreach, social and ecumenical work.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievements and performance

The Revd Caroline Titley was licensed by the Bishop of Stepney as Priest-in-Charge of the Parish of Barnsbury on 27 February 2022. During the last year, the parish has been restoring its worship and other activities, and planning for the future. It has also been reviewing all aspects of its organisation. It has welcomed new worshippers and is looking forward to the year ahead. During 2022 there were a number of notable services including those in remembrance of her late Majesty, Queen Elizabeth 11.

Page 2

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

TRUSTEES' REPORT (CONTINUED)

Financial review

In 2022, there was a decrease in income during the year by about 5%. This was partly due to lower donations received as well as lower income from trading activities. The lower income was more than compensated for by lower expenditure levels. This meant that overall, there was an increase in net surplus by just over 45%.

At the end of the year, the PCC had successfully renegotiated its contract with one of its tenants. This will see an increase in income in 2023. Due to our inability to rent out one of our buildings, we were unable to make good our Common Fund contribution in full. We are grateful to the London Diocese for granting us a break in 2022. The plan is to recover quickly and resume full contributions in April 2023, and increase future contributions over the years.

Policy on reserves

Our policy is to see reserves as a resource for the present which have been accumulated in the past. Decisions as to what reserves may be used for are taken by the DCCs in respect of DCC funds and by PCC in respect of the PCC funds. We have not retained a specific reserve in respect of running expenses.

Each church is responsible for its own reserves. These are not available to the Parochial Church Council but instead are designed to meet the running costs and any contingencies for each church.

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.

Page 3

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

TRUSTEES' REPORT (CONTINUED)

Statement of Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The annual report was approved by the trustees of the charity on 29 March 2023 and signed on its behalf by:

......................................... Revd S. Caroline Titley Trustee

Page 4

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

INDEPENDENT EXAMINER'S REPORT

I report to the trustees on my examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of the Barnsbury Team Ministry for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of The Parochial Church Council of the Ecclesiastical Parish of the Barnsbury Team Ministry you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the The Parochial Church Council of the Ecclesiastical Parish of the Barnsbury Team Ministry's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since The Parochial Church Council of the Ecclesiastical Parish of the Barnsbury Team Ministry'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 Chartered Institute of Management Accountants, which is one of the listed bodies.

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

accounting records were not kept in respect of The Parochial Church Council of the Ecclesiastical Parish of the Barnsbury Team Ministry as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

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

...................................... G W Schulz ACMA Independent Examiners Ltd

29 March 2023

Page 5

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note Unrestricted funds £ Income and Endowments from: Donations and legacies 2 109,482 Other trading activities 3 190,628 Investment income 4 461 Other income 5 50,173 Total income 350,744 Expenditure on: Charitable activities 6 325,948 Total expenditure 325,948 Net income/(expenditure) 24,796 Net movement in funds 24,796 Reconciliation of funds Total funds brought forward 396,109 Total funds carried forward 15 420,905	Restricted funds £ 35,080 - - - 35,080 35,919 35,919 (839) (839) 24,945 24,106	Total 2022 £ 144,562 190,628 461 50,173 385,824 361,867 361,867 23,957 23,957 421,054 445,011	Total 2021 £ 182,735 207,505 39 18,545
			408,824
			392,505
			392,505
			16,319
			16,319 404,735
			421,054

The notes on pages 8 to 19 form an integral part of these financial statements. Page 6

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

BALANCE SHEET AS AT 31 DECEMBER 2022

Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: Amounts falling due within one year 12 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 13 Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 15	2022 £ - - 23,452 445,512 468,964 (23,489) 445,475 445,475 (464) 445,011 24,106 420,905 445,011	2021 £ -
		-
		25,000 476,285
		501,285 (79,767)
		421,518
		421,518 (464)
		421,054
		24,945 396,109
		421,054

The financial statements on pages 6 to 19 were approved by the trustees, and authorised for issue on 29 March 2023 and signed on their behalf by:

......................................... Revd S. Caroline Titley Trustee

The notes on pages 8 to 19 form an integral part of these financial statements. Page 7

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

1 Accounting policies

Statement of compliance

The 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

The Parochial Church Council of the Ecclesiastical Parish of the Barnsbury Team Ministry meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Gift aid

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Page 8

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

Other trading activities

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

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £1,000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Consecrated and Beneficed property is excluded from the accounts by s.96(2)(A) of the Charities Act 1993.

Page 9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

No value is placed on movable church furnishings held by the church wardens 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 benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Furniture and equipment

Depreciation method and rate 25% on cost

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Liabilities

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Page 10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2 Income from donations and legacies

Donations and legacies; Donations Gift aid reclaimed Grants, including capital grants; Grants	Unrestricted funds General £ 94,264 11,777 3,441 109,482	Restricted funds £ 12,071 - 23,009 35,080	Total 2022 £ 106,335 11,777 26,450 144,562	Total 2021 £ 108,175 13,845 60,715
				182,735

3 Income from other trading activities

Events income; Other events income Property rental income	Unrestricted funds General £ 9,597 181,031 190,628	Total 2022 £ 9,597 181,031 190,628	Total 2021 £ 10,255 197,250
			207,505

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

4 Investment income

Interest receivable and similar income; Interest receivable on bank deposits 5 Other income Refunds Fees and supplies	Unrestricted funds General £ 461 Unrestricted funds General £ 48,940 1,233 50,173	Total 2022 £ 461 Total 2022 £ 48,940 1,233 50,173	Total 2021 £ 39
			Total 2021 £ 17,367 1,178
			18,545

Page 12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

6 Expenditure on charitable activities

Note Parish contribution Ministry and clergy expenses Church hall and property Building projects Utilities and insurance Upkeep of services Telephone Printing, post and stationery Computer and software Legal and professional fees Bank charges Sundry Independent examination Grant funding of activities 7 Staff costs 9	Unrestricted funds General £ 73,289 27,487 39,794 601 38,365 17,015 1,892 4,251 1,015 22,161 883 2,463 3,180 20,518 73,034 325,948	Restricted funds £ - 675 34,757 - 447 - - 40 - - - - - - - 35,919	Total 2022 £ 73,289 28,162 74,551 601 38,812 17,015 1,892 4,291 1,015 22,161 883 2,463 3,180 20,518 73,034 361,867	Total 2021 £ 96,701 33,161 82,333 42,404 21,304 11,529 2,140 2,549 966 6,844 626 3,130 3,000 286 85,532
				392,505

Page 13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

7 Grant-making

Analysis of grants

Grants	Grants to institutions 2022 £ 2021 £ 20,518 286

8 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Barbara Hooker

Barbara Hooker received remuneration of £2,995 (2021: £2,995) during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were: Wages and salaries Social security costs Pension costs	2022 £ 72,330 - 704 73,034	2021 £ 83,611 1,265 656
		85,532

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

	2022		2021
	No		No
Staff		1		1

No employee received emoluments of more than £60,000 during the year

Page 14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

10 Tangible fixed assets

Cost At 1 January 2022 At 31 December 2022 Depreciation At 1 January 2022 At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 11 Debtors Accrued income VAT recoverable Other debtors 12 Creditors: amounts falling due within one year Other loans Other taxation and social security Other creditors Accruals		Furniture and equipment £ 4,000		Total £ 4,000 4,000 4,000 4,000 - - 2021 £ - - 25,000
		4,000
		4,000
		4,000
		-
		-
		2022 £ 5,763 6,308 11,381 23,452 2022 £ - 133 5,331 18,025 23,489
				25,000
				2021 £ 33,000 - - 46,767
				79,767

Page 15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

13 Creditors: amounts falling due after one year

		2022	2021
		£	£
Other	creditors	464	464

14 Pension and other schemes

The charity participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.

CWPF has two sections:

the Defined Benefits Scheme
the Pension Builder Scheme, which has two subsections;
a. a deferred annuity section known as Pension Builder Classic, and,
b. a cash balance section known as Pension Builder 2014.

Pension Builder Scheme

Both sections of the Pension Builder Scheme are classed as defined benefit schemes.

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £704 (2021 - £656).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The legal structure of the scheme is such that if another employer fails, The Parochial Church Council of the Ecclesiastical Parish of the Barnsbury Team Ministry could become responsible for paying a share of the failed employer’s pension liabilities.

15 Funds

Unrestricted funds *General* General Funds *Designated* Stonework project Total unrestricted funds Restricted funds Cloudsley trust Building fund (All Saints' Church) Night shelter Building fund (St Andrew's Church) Rectory Organ fund Special collection Covid recovery Youth, Welfare & General Donation Total restricted funds Total funds	Balance at 1 January 2022 £ 393,981 2,128 396,109 4,693 1,717 508 4,863 4,781 2,073 487 5,823 - 24,945 421,054	Incoming resources £ 350,744 - 350,744 - - - 23,009 - 2,071 - - 10,000 35,080 385,824	Resources expended £ (325,948) - (325,948) - - - (24,092) - (842) (487) (5,823) (4,675) (35,919) (361,867)	Balance at 31 December 2022 £ 418,777 2,128
				420,905
				4,693 1,717 508 3,780 4,781 3,302 - - 5,325
				24,106
				445,011

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

Building Fund - each April and October churches in the former parish of Islington can apply for grants to maintain the fabric of the building according to the terms of the Richard Cloudesley Charity which was set up in the 16th century. Level of grants varies. As the pressure on Church Grants programme funds is considerable, in most instances, the Charity will not fund 100% of a project/works. Analysis of how grants provided this year were spent is detailed above.

Night Shelter - Provides funds for the homeless.

Rectory Fund - this is the accumulation of funds put aside each year to maintain the commitment that PCC/DCC's redecorate one room a year in the rectory to keep it up to standard.

Organ Fund - to provide funds for the upkeep of the Church Organ.

Special Collection - this was money given to St Andrew's at a funeral several years ago.

Unrestricted funds *General* General Funds *Designated* Stonework project Total unrestricted funds Restricted funds Cloudsley trust Release Eritrea Building fund (All Saints' Church) Night shelter Building fund (St Andrew's Church) Rectory Organ fund Special collection Historic England grant Covid recovery Stay and Play Gardening	Balance at 1 January 2021 £ 363,143 2,128 365,271 9,316 1,850 917 508 4,832 4,781 2,073 487 14,700 - - -	Incoming resources £ 348,149 - 348,149 17,900 - 800 - 6,588 - - - 11,791 22,680 500 416 Page 18	Resources expended £ (319,161) - (319,161) (22,523) - - - (1,398) - - - (31,650) (16,857) (500) (416)	Transfers £ 1,850 - 1,850 - (1,850) - - (5,159) - - - 5,159 - - -	Balance at 31 December 2021 £ 393,981 2,128
					396,109
					4,693 - 1,717 508 4,863 4,781 2,073 487 - 5,823 - -

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE BARNSBURY TEAM MINISTRY

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

Total funds	Balance at 1 January 2021 £ 39,464 404,735	Incoming resources £ 60,675 408,824	Resources expended £ (73,344) (392,505)	Transfers £ (1,850) -	Balance at 31 December 2021 £ 24,945
					421,054