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← The Parochial Church Council Of The Ecclesiastical Parish Of St Lawrence, Abbots Langley

2023-12-31-accounts

St. Lawrence Church, Abbots Langley and Church of the Ascension, Bedmond

Annual Report and Financial Statements of the Parochial Church Council for the year ended December 31[st] 2023

Incumbent

The Revd Dr P.M. Waddell The Vicarage, Hilbernel, 26 Greenways, Abbots Langley, WD5 0EU

Bank

Lloyds Bank plc 32 & 32a, Intu Shopping Centre, Watford WD17 2UB

Independent Examiner

Gary Howard

Howard Wilson, Chartered Accountants 36, Crown Rise, Watford, Herts, WD25 0NE

Registered Charity Number 1130597

Abbots Langley PCC Annual Report and Financial Statements 2023

Trustees Report for 2023

Charity Name: The Parochial Church Council of the Ecclesiastical Parish of St. Lawrence, Abbots Langley. Registered Charity: 1130597

Principal Address: St. Lawrence Church Office, High Street, Abbots Langley, WD5 0AS

Statement of PCC Responsibilities

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

The PCC members have overall responsibility for ensuring that the PCC has appropriate systems of controls, financial and otherwise. They are also responsible for keeping proper records which disclose 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 responsible for safeguarding the assets of the PCC and for taking reasonable steps for the prevention of fraud and other irregularities and to ensure:

Trustees

Members of the PCC are either ex-officio or elected by the APCM in accordance with the Church Representation Rules. During the calendar year, the following served as members of the PCC (and so trustees):

Clergy: Revd. Dr. Peter Waddell (Chair); Revd. Helen Neville (Asst. curate, from July) Lay Reader: Mrs Sally Sanderson

Churchwardens : Mrs Carol Higgs (Vice-Chair); Prof. Thomas Betteridge

: Prof Richard Simons Deanery Synod Representatives

Elected members: Ms Gillian Furphy (until APCM 2023); Mrs Kathryn Goodman (Parish Safeguarding Officer, until APCM 2023); Dr. Helen Shepherd; Mrs Roxanne Yau (Parish Safeguarding Officer); Mrs Rita Baldwin; Mr Christopher Sanders (Treasurer); Mr. Stephen Wray; Mrs Frances Foulsham; Mr Roland Maxted; Mrs Ann Maskill.

Co-opted members: Mrs Amanda Hawkes (Secretary)

There were 164 people on the electoral roll for 2023.

In the course of 2023, we were delighted to welcome the Revd. Helen Neville as Assistant Curate in the parish. Helen joined us from Ridley Hall, Cambridge, and was ordained deacon on July 1[st] at St. Alban’s Abbey by the Bishop of St. Albans.

Sadly, Mr. Roland Maxted, our ordinand-in-training, had to withdraw from training during 2023 due to ill-health.

Page 2 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

Structure, Governance and Management

The charity’s governing documents are the Parochial Church Council Powers Measure (1956) as amended, and the Church Representation Rules. The PCC operates through a number of committees which meet between full meetings of the PCC and report to these meetings.

Standing Committee – the only committee required by law. It has the power to transact the business of the PCC between meetings, subject to directions given by the Council. The Committee comprises the parish clergy, the churchwardens, the Treasurer, and Dr. Helen Shepherd.

Finance Committee – oversees the general financial affairs of both churches by monitoring income and expenditure, budgeting, promoting stewardship especially through planned giving, and overseeing the fundraising activities of the PCC. It also attends to any charitable donations made by the PCC, in line with the parish policy on charitable donations.

Property Committee – attends to matters relating to the upkeep of the buildings and their surroundings. These include the two church buildings, their fabric and churchyards; the Church Hall and Stable Block, and the parish-owned house at 40 Kindersley Way.

Social Committee – organises social events focussed on St. Lawrence Church. The Church of the Ascension has its own informal structure.

Communications Committee – responsible for comms within the parish and externally, including use of social media and local newspapers. It is also responsible for the production and distribution of the parish magazine Outlook and maintaining and updating the parish web-site. This Committee was in abeyance throughout 2023.

Worship Committee – provides feedback and assists the vicar with planning parish worship activities. Children and Young People’s Committee – oversees and co-ordinates the work of the parish with those aged 0-18.

Malawi Committee – oversees and organises the work of the church in supporting the community in Malosa, Malawi, both with visits and financially.

Safeguarding

Mrs Kathryn Goodman served as Parish Safeguarding Officer until the APCM in April 2023. Mrs Roxanne Yau was appointed at that APCM as her successor, and has served as PSO since that time. The PCC and all church activities adhere fully to all Church of England safeguarding policies and procedures. The PSO ensures that all those involved in work with young people and/or vulnerable adults have the required level of training and background checks. The Parish has followed the ‘Safer Recruitment’ policy in making all appointments, such as that of the Director of Music.

There was one serious safeguarding incident reported to the parish in the course of 2023. This was immediately reported to the Diocesan Safeguarding Team, and was referred to a Diocesan Core Group. The instructions of this group have been followed at all points in the ensuing process. The required notification of a serious safeguarding concern to the Charity Commission was made by the Diocesan Safeguarding Adviser, Mr. Jez Hirst, in July 2023.

Objectives and Activities

Abbots Langley PCC has the responsibility for co-operating with the incumbent, the Revd. Dr. Peter Waddell, and the curate, Revd. Helen Neville, to promote the whole mission of the church – pastoral, evangelistic, social and ecumenical throughout the ecclesiastical parish.

In the course of 2023, the PCC approved the Mission Action Plan for 2023-2026. This is reproduced here:

Page 3 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

The Parish of Abbots Langley: Mission Acton Plan 2023-26

The things that do not change… what this parish will always be about:

Going deeper into God: helping people grow in holiness. Making new disciples: calling people of all ages to follow Jesus. Transforming communities: making a positive social impact locally and beyond.

In the light of these unchanging fundamentals, these are our priorities for the next three years:

Going Deeper into God

Making New Disciples

Transforming Communites

In the light of these priorities, in the next three years we will seek to:

Going Deeper into God

Making New Disciples

Page 4 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

Transforming Communites

Parish Actvites in 2023

Worship

Throughout 2023, the parish offered the following pattern of weekly worship:

Sundays

0800 Said Eucharist at St. Lawrence

0930 Sung Eucharist at St. Lawrence

1130 Eucharist with hymns at the Church of the Ascension

1700 Evening Service (this could be simple, said Evening Prayer; a service of Taize music, or our monthly ‘Breathing Space’ conversational service).

Weekdays

0915, daily, Morning Prayer at St. Lawrence

1200, Wednesdays, said Eucharist at St. Lawrence

Additional services are held for major occasions in the life of Church and nation. Of special note in 2023 was the special service held to celebrate the Coronation of His Majesty the King. Christmas was also a highlight, with a packed Nine Lessons and Carol Service and the return in full strength of our traditional Christmas Eve Candlelit Carol (‘Donkey’) Carol Services.

There is a junior and adult choir, reflecting the high value the parish places on sung worship. We were delighted to appoint a new Director of Music, Ms. Marianne Ryall, to lead both choirs from Easter 2023.

A Sunday School (‘Seekers’) meets most Sundays during the 9.30am service for primary school agedchildren. We are most grateful to Mrs Penny McLoughlin and Mrs Helen Shepherd for taking the lead in enabling this to happen and for organising a range of highly successful children’s activities throughout the year.

This was the first full year since 2020 with no coronavirus related restrictions on public worship (the common cup at communion only being restored in 2022). Attendances at services staged a gradual recovery, and by the end of the year there were usually just over 100 people attending public worship in the parish each week (compared to 135 before the pandemic). We continued to livestream our principal Sunday service, and estimate that around ten people regularly participate as fully as possible in services through this provision (not counting more casual use of the livestream service).

The parish continues to run a ‘Messy Church’ in collaboration with the Methodist Church. This meets monthly, and regularly has around twenty children and their families taking part.

The parish continued to offer regular opportunities for the deeper exploration of faith. Two housegroups continued to meet monthly. Throughout 2023, Pilgrim Courses on the Ten Commandments and the Eucharist were also offered, as well as ‘The Bible Course’. Revd. Helen Neville also led a course on ‘Women of the Old Testament.’

By the end of 2023, communion was being brought to around ten individuals at home due to their inability to attend church. The clergy were also visiting two sheltered housing units each month to bring communion.

Page 5 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

Pastoral or ‘Occasional’ Offices

During 2023, there were 25 children under the age of 4 christened in the parish, and a service of thanksgiving and dedication for 3 more. We were delighted to present four candidates (three adults, and one child) for Confirmation at St. Alban’s Abbey.

There were four weddings in the parish, confirming the sharp decline in marriage rates observed nationally over several years.

34 funerals were taken by the parish clergy, of which 12 were held in church and 22 at local crematoria, cemeteries and in other churches. There were 24 burials of cremated remains in the churchyard. An ecumenical team of bereavement visitors continues to provide ongoing support to the bereaved.

Parish Organisations

A wide range of parochial organisations continued to flourish throughout 2023.

‘Tiny Tots’ is our weekly group (term-time only) for under 4’s and their carers. This usually saw more than 15 children attending for singing and stories with the clergy.

Our Nameless Youth group for those aged 11-18 continued to meet monthly.

A weekly Craft and Conversation group meets at St. Lawrence’s, and has proved very popular. The Mothers Union meets twice a month once with a varied range of activities.

The Bell Ringing Team continued to grow. It rings for the Parish Eucharist each Sunday, for special and civic services and weddings on request.

The Sunday Lunch Club began to meet again in the course of 2023, the final step in our return to the full range of activities offered before the pandemic.

Bedmond Church’s monthly coffee morning resumed in 2023 after being suspended during the pandemic, and have proved highly popular.

Community involvement

Throughout 2023, the congregations contributed with great generosity towards the work of the Watford Food Bank. There is a collection point for goods in the church and in Budgens. Food is regularly collected by volunteers and transported to the Food Bank. The parish office also functions as a distribution point for the Three Rivers Food Bank.

The local Citizens Advice Service is housed in the Old Stable Block. The parish offers this at half the usual business rate to support this valuable service to the local community.

The St. Lawrence’s Youth Club, run by the YMCA, came to an end in late 2023 on police advice and after repeated reports of anti-social behaviour associated with the club. This was a matter of deep regret. The clergy continued to be involved in local schools, giving weekly assemblies at Bedmond Academy and Abbots Langley Primary. Occasional visits were also made to Tanners Wood and Breakspeare Schools, and all the local schools came to Church for class visits.

As part of our commitment to supporting those facing bereavement, St. Lawrence participated fully in the Churches Together in Abbots Langley ‘Grave Talk’ project. Two meetings were held in the Henderson Hub with the aim of encouraging people to explore thoughts and feelings about mortality. These were judged a great success by all who took part.

St. Lawrence’s once again hosted an immensely popular Switching On of the village Christmas lights. The highly successful Summer Fete, involving many volunteers and drawing large numbers, raised £2400 divided equally between our two chosen charities: Watford New Hope and Breakspeare School.

Page 6 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

Along with other churches in Watford, the parish continued its strong commitment to the Malawi Project. During the year the Malawi Team sent £8,500 to the Hospital in Malosa, Malawi to fund the upgrading of the Hospital’s on-site dental equipment. It contributed £1,400 to Malawi Cyclone Relief fund, and spent approximately £1,000 on sending items to the Hospital and Secondary School in a container shipped by the Diocese of Birmingham. Funds raised during the year totalled £13,800 as result of the very generous support of our congregations and local community given to a variety of fundraising activities and many very generous personal donations.

Care for creation

The Churchyard is recognised as a county wildlife site and is managed with wildlife in mind. It has an important number of grassland indicator species. We have a noticeboard in the churchyard to inform people about what to look out for. The articles on this board are changed monthly. A regular group of church members and others meet once a month to perform invaluable work in maintaining the churchyard. In addition, several members carry out work throughout the week to keep paths clear and tend to the Garden of Remembrance. In 2023, the parish was assisted by a grant from Abbots Langley Parish Council. This was used to pay for tree work and servicing of the mowers. There is also a working party at Bedmond which maintains the churchyard there.

In 2023, both the Church of the Ascension and St. Lawrence obtained a Bronze Award in the A-Rocha ‘eco-church’ scheme.

Legacies

The parish was deeply grateful to receive two legacies in the course of 2023, from the estates of Mr Michael Smith and Mr John Meggitt.

FINANCIAL REVIEW

The overall financial result for 2023 shows a deficit (before transfers and gains on investments) on the unrestricted funds of (£12,678) (SOFA page 10). This figure includes hall refurbishment expenditure of £13,137, which had been set aside by the PCC for this purpose in previous years. Taking all PCC directly controllable income and expenditure into account i.e. excepting endowments, the deficit becomes (£10,802) ((£12,678) + £1,876 SOFA page 10).

The General Fund (which accounts for our day-to-day running costs) shows a deficit for the year of (£1,736) (note 19 page 21, £203,460 - £205,196). The General fund deficit is set off against last year’s surplus. The inflationary economic climate, still contributes to significant uncertainty about the path ahead. The Hall income declined further during 2023. The pre-school, which forms a significant part of the hall income, which was expected to start during 2023 failed to materialise. We are working with a new pre-school with a view to a start date during 2024. The parish received a full year’s rent from 40 Kindersley Way. During 2023 the parish contributed £15,679 towards the costs associated with Helen Neville‘s accommodation.

At St Lawrence, there was expenditure of £20,463 in 2023 on restoration work in the South Porch, a new flagpole, church clock repairs, heating system repairs, and sundry other repairs. Each of the major items was supported by a grant from the Friends of St Lawrence. At Bedmond there was no expenditure on major items. At 40 Kindersley Way £2,081 was spent on maintenance, mainly on repairs

Page 7 of 29

Abbots Langley PCC Annual Report and Financial Ststements 2023 to the flat roof/ceilings. The planned works to the hall entrance lobby. kitchen and toilets were completed during 2023- the Hall Refurb fund contained the funds allocated for this work. The surplus in the Hall Refurb Fund of £3.661 has been transferred to the General fund. The Property Reserve Fund at £32,399 is above our stated reserve level of £30,0￿. During 2024 the PCC is planning to complete the South Porch restoration works at St Lawrence. however difficulties with planning permissions leave the scope of this uncertain. No major works are planned for Bedmond during 2024. In the Churchyard, the PCC is planning to establish a scheme for Memorial Bricks associated with the Garden of Remembrance- it is envisaged that this will be self funding. For this parish, income received under planned giving {including tax recovery} totalling £1 10.70512022 £113,147} represents 54.0%12022- 54.0%) of our General Fund income. There have been difficulties recovering Gift Aid during 2023. and it is believed that there is further Gift Aid to be claimed for donations made during 2023. The Planned Giving Secretary is addressing this. Leaving the Gift Aid issue aside, there does seem to be a longer term downward trend, which the PCC is addressing. Stewardship renewal campaign is planned for 2024. We have budgeted to receive an annual equivalent income of £112,OCQ (including tax reliefj for 2024. The amount paid to charities and missions out of the General Fund in 2023 was £13512022 - £1961. During 2023 the church held Fete, and we donated the proceeds of £2.400 to the Breakspeare School and the New Hope Trust. We donated a further £1.121 12022 - £1,659) to charities from charity collections and restricted offertories. and we gave a grant to the Citizens Advice Service in Three Rivers of £9,192 12022 - £7,750}. During 2023 the PCC Malawi team spent £10,994 in Malawi, and raised £14,617 with fundraising events. During the year our investments increased in value by £3.919 and at the year end the total market value of our investments was £40,32512022- £36,391). The parish quota for 2024 will be £99,102 (2023 - £95.410}. including a £9.3(Xl rebate towards the new curate's housing costs. The PCC is continuing the process of identifying the major risks which impact on the work of the church in this parish. An analysis of existing controls in place to deal with these risks continues to be developed by identifying further attions required to mitigate these risks. We already have a child protection policy in place which is reviewed and revised annually and we have procedures in place for the handling of cash. In line with the policies decided by the PCC in 2019 the general operational reserve should have a minimum value of £35,OCK) together with a minimum value of Property reserve of £30,000. The unrestritted funds in the accounts show that these values are being maintained. see note 19, page 23. Great thanks are due to all those who have assisted in the running of the church finances, and in particularTom tteridge as Planned Giving Secretary. on behalf of the Trustees IC May 2024 Page 8 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023 INDEPENDENT EXAMINER'S REPORT THE PAROCHIALCHURCH COUNaL OF AB80TS LANGLEY I report to the trustees on my examination of the atcounts of Parothial Church Council 1-PC￿l for the year ended 31 December 2023. ResponslbllltSes and basls of ￿pOrt As members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 Ithe 2011 Actl. I report in respert of my examination of the PCC'S accounts carried out under sethon 145 of the 2011 Act. In carrying out my exafflination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner'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 account5 in accordance with the Financial Reporring Stèndard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities= Statement ol Recornmended Practice issued on l April 2005 whlch 15 referred to in the extant regulations bui has now been withdrawn. l understand that this has been done in order for accounts to Pr￿ide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after l January 2015. Since the PCCS gross incorne exceeded £250,(￿ your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examin3kn.on because l am a member of The Institute of Chartered Actountsnts in England and Wales. which is one of the lirted bodies. I have completed my examination. I confirm that no matters have come to my attention in connettion with the examination giving me cause to believe that in any material respert: accounting records were not kept in respett of the PCC as required by sertion 130 of the 2011 Act.. or the accounts do not accord with those retords. or the accounts do not corTrply with the applicatAe requirements conceming the form arbd content of accounts set out in the Charitie5 (Accounts and Reports) Regulations 2(1)8 other than arby requirement that the accounts give a true and fair view which is not a matter Conside￿ as part of an independent examination. I have no concerns and have come across no other matters in conneclion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts io be reached. Ho rd FCA Howard Wilson Chartered Accountants 36 Crown Rlse Watford Hertfordshlre WD25 ONE Dated.. I Page 9 of29

Abbots Langley PCC Annual Report and Financial Statements 2023

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2023

Note
Unrestricted
Funds
INCOME AND ENDOWMENTS FROM:
£
Donatons and Legacies
2a
133,666
Charitable actvites
2b
8,415
Other actvites
2c
57,564
Investments
2d
3,664
Other
2e
2,347
TOTAL INCOME
205,656
EXPENDITURE ON:
Raising funds
3a
5,803
Church actvites
3b
212,530
TOTAL EXPENDITURE
218,333
NET INCOME/(EXPENDITURE) BEFORE
(12,677)
GAINS AND LOSSES ON INVESTMENTS
GAINS/(LOSSES) ON REVALUATIONS
13
-
GAINS/(LOSSES) ON INVESTMENTS
14
1,615
NET INCOME/(EXPENDITURE)
(11,062)
TRANSFERS BETWEEN FUNDS
23
(2,246)
NET MOVEMENT IN FUNDS
(13,308)
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD
725,169
TOTAL FUNDS CARRIED FORWARD
711,861		 Restricted
Funds
£
30,843
2,774
4,619
729
2,624
41,589
864
38,849
39,713
1,876
-
-
1,876
2,246
4,122
570,852
574,974		 Endowment
Funds
£
-
-
-
15
-
15
-
-
-
15
-
2,304
2,319
-
2,319
19,227
21,546		 TOTAL
2023
£
164,509
11,189
62,183
4,408
4,971
247,260
6,667
251,379
258,046
(10,786)
-
3,919
(6,867)
-
(6,867)
1,315,248
1,308,381		 TOTAL
2022
£
151,565
11,737
65,151
1,696
2,613
232,762
6,880
198,621
205,501
27,261
-
(4,223)
23,038
-
23,038
1,292,210
1,315,248

The notes on pages 12 to 29 form part of these accounts.

Page 10 of 29

Abbots Langley PCC Annual Report and Financial SLitements 2023 BALANCE SHEET AT 31st DECEMBER 2023 Note 2023 2022 FIXED ASSErs Tangible fixed assets 13 l,Ify),￿) i.Ico.o£ Fixed asset investments 14 40.325 36,391 1.140,325 1.136391 CURRENT ASSETS Debtors 16 44,403 9.359 Current asset investments 17 14,705 14.211 Short term deposits 76,363 73,489 Cash at bank and in hand 53.176 97,801 188,647 194.860 CURRENT LIABILITIES Amounts falling due within one year 18 20.591 I6.￿2 CuRRETr￿ ASSErs 168,056 178.858 TOTAL ASSETS 1,308,381 1,315.248 REPRESENTED BY Unrestricted fund5 19 711.861 725,169 Restricted funds 20 574,974 570.852 Endowment funds 21 21.546 19,227 1.308,381 1,315.248 The notes on pages 12 to 29 form part of these acc Approved by the Parochial Church Council on nts. 24 and signed on its behalf by= P Waddell Ilncumbentl C Sanders (Treasurer Page 11 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31[st] December 2023.

1 ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2016), the Charities Act 2011 and applicable regulations. The PCC is a Public Benefit Entity as defined by FRS 102.

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.

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 continue to adopt the going concern basis of accounting in preparing the accounts.

Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.

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.

Incoming Resources

Voluntary income and capital sources Collections are recognised when received by or on behalf of the PCC.

Planned giving receivable under covenant is recognised only when received.

Income tax recoverable on covenants or gift aid donations is recognised when the income is recognised.

Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.

Funds raised by the fete and similar events are accounted for gross.

Sales of books and magazines from the church bookstall are accounted for gross.

Other ordinary income

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

Page 12 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

1 ACCOUNTING POLICIES (continued)

Income from investments

Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Gains and losses on investments

Realised gains or losses are recognised when investments are sold.

Unrealised gains or losses are accounted for on revaluation of investments at 31 December.

Resources used

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.

Activities directly relating to the work of the church

The diocesan quota or parish share is accounted for when payable. Any quota unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet.

Fixed Assets

Consecrated land and buildings and movable church furnishings Consecrated and beneficed property is excluded from the accounts.

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 benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £1,500 or less are written off when the asset is acquired.

Investments

Investments are valued at market value at 31 December.

Current assets

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

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Short term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The charity 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 charity's balance sheet when the charity 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.

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Abbots Langley PCC Annual Report and Financial Statements 2023

1 ACCOUNTING POLICIES (continued)

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.

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.

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 charities contractual obligations expire or are discharged or cancelled.

Creditors and provisions

Creditors and provisions are recognised where the charity 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.

Employee benefits

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

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

Page 14 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

2 INCOME AND ENDOWMENTS FROM:

Note
Unrestricted
Funds
£
2a
Donatons and Legacies
Planned giving – Gif-Aided
91,000
Planned giving – GAYE and CAF
-
Planned giving – tax recovery
16,508
Planned giving – non-Gif-Aided
3,197
Collectons
4
3,868
Grants
240
Donatons, appeals, etc
13,853
Legacies
5,000
133,666
2b
Charitable Actvites
Fees
6,024
Fetes
1,037
Social events
873
Other Charitable Actvity income
481
8,415
2c
Other Trading Actvites
Hall & Stable block letngs
26,697
Bookstall
17
Church Magazine
2,549
40 KW Rental income
19,400
Fund-raising income
3,380
Other operatng actvites
5,521
57,564
2d
Investments
Interest and dividends
3,664
3,664
2e
Other
Expense recoveries
692
Other income
1,655
2,347
TOTAL INCOME
205,656		 Restricted
Funds
£
-
-
-
-
169
16,822
12,507
1,345
30,843
-
2,509
-
265
2,774
-
-
-
-
4,619
-
4,619
729
729
-
2,624
2,624
41,589		 Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15
15
-
-
-
15		 TOTAL
2023
£
91,000
-
16,508
3,197
4,037
17,062
26,360
6,345
164,509
6,024
3,546
873
746
11,189
26,697
17
2,549
19,400
7,999
5,521
-
62,183
4,408
4,408
692
4,279
4,971
247,260		 TOTAL
2022
£
87,555
-
19,492
6,100
4,461
8,123
25,834
-
151,565
7,333
2,059
1,454
891
11,737
34,586
75
2,680
18,600
4,842
4,368
-
65,151
1,696
1,696
316
2,297
2,613
232,762

Page 15 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

3 EXPENDITURE ON:

Note
Unrestricted
Funds
£
3a
Raising funds
Fete expenses
193
Social events
876
Fund-raising expenses
76
40 Kindersley Way Costs
5
4,658
5,803
3b
Church Actvites
Grants and donatons
6
9,327
Quota – stpends (Incumbent)
36,108
Quota – Housing (Curate)
(4,656)
Quota – ministry support
63,958
Curate Housing
15,679
Salaries and wages
7
14,330
Vicar's expenses
1,676
Curate's expenses
270
Clergy assistants' expenses
-
Service expenses
3,720
Seekers, children and youth work
447
Magazine, Bookstall and other actvites
8
3,756
Adult Mission and training
866
Property running expenses
9
18,219
Property maintenance
10
6,010
New building work
-
Churchyard costs
11
-
Church hall costs
12
26,511
Ofce costs
6,491
Organist and Director of Music fees
4,420
Miscellaneous
115
Bank charges
171
Legal and Professional fees
4,212
Independent examiner's fee
900
212,530
TOTAL EXPENDITURE
218,333		 Restricted
Funds
£
398
-
466
-
864
14,515
-
-
-
-
-
-
-
-
760
534
882
-
-
20,463
-
1,683
-
-
-
-
12
-
-
38,849
39,713		 Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 TOTAL
2023
£
591
876
542
4,658
6,667
23,842
36,108
(4,656)
63,958
15,679
14,330
1,676
270
-
4,480
981
4,638
866
18,219
26,473
-
1,683
26,511
6,491
4,420
115
183
4,212
900
251,379
258,046		 TOTAL
2022
£
238
785
60
5,797
6,880
15,078
35,064
5,348
61,596
-
14,075
1,523
380
-
3,287
614
3,731
350
14,218
9,104
-
2,109
23,436
6,963
240
400
205
-
900
198,621
205,501

4 ANALYSIS OF COLLECTIONS

Abbots Langley
8.00 am
9.30 am
6.30 pm
Baptsms
Weddings
Funerals
Other
Bedmond
Charity Collectons
Gif Aid Recovery		 Unrestricted
Funds
£
-
54
-
1,022
127
-
1,798
434
-
433
3,868		 Restricted
Funds
£
-
-
-
-
-
-
-
-
110
59
169		 Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-		 TOTAL
2023
£
-
-
54
-
1,022
127
-
1,798
434
110
492
4,037		 TOTAL
2022
£
-
-
88
-
992
348
56
1,482
287
435
773
4,461

Page 16 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

5
40 KINDERSLEY WAY COSTS
General Maintenance
Insurance
Rent management fees
6
CHARITABLE DONATIONS
6b
Christan Relief & Development
Malawi
6c
Home Missions &
other Church Societes
Watord Schools Trust
6d
Secular Charites
Citzens Advice Service in Three Rivers
Emergency Appeals
Food Bank
Hospice St Francis
Marine Conservation
Peace Hospice
Rennie Grove
Breakespeare School
New Hope Trust		 Unrestricted
Funds
£
2,081
482
2,095
4,658
Unrestricted
Funds
£
-
125
9,192
-
10
-
-
-
-
-
-
9,202
9,327		 Restricted
Funds
£
-
-
-
-
Restricted
Funds
£
10,994
-
-
1,121
-
-
-
-
-
1,200
1,200
3,521
14,515		 TOTAL
2023
£
2,081
482
2,095
4,658
TOTAL
2023
£
10,994
125
9,192
1,121
10
-
-
-
-
1,200
1,200
12,723
23,842		 TOTAL
2022
£
2,882
403
2,512
5,797
TOTAL
2022
£
3,803
196
7,750
1,129
-
1,000
100
1,000
100
-
-
11,079
15,078

Page 17 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

6 CHARITABLE DONATIONS cont.

In addition to the above charity distributions the Parish has organised the following charitable collections.

DEC Turkey Earthquake
North Africa Floods
7
STAFF COSTS
Wages and salaries
Employer's NI contributons
Pension costs
Childrens Society, Christngles		 2023
£
330
436
301
1,067
2023
£
13,020
-
1,310
14,330		 2022
£
330
-
-
330
2022
£
12,805
-
1,270
14,075

During the year the PCC employed a Parish Administrator who did not earn more than £60,000 p.a.. No member of the PCC received any reimbursement of expenses or remuneration while acting in their capacity as a member of the PCC.

Abbots Langley PCC participates in the Pension Builder Scheme section of Church Workers Pension Fund (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 , and the Pension Builder Scheme, which has two subsections: a deferred annuity section known as Pension Builder Classic, and, a cash balance section known as Pension Builder 2014.

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 pensions costs charged to the SoFA in the year are the contributions payable (2023: £1,310, 2022: £1,270)

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.

For the Pension Builder Classic section, the 2019 valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2024, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 5% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2023. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the 2019 valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The next valuation is due as at 31 December 2022. Calculations for this are currently under way.

The legal structure of the scheme is such that if another employer fails, Abbots Langley PCC could become responsible for paying a share of that employer’s pension liabilities.

Page 18 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

8

MAGAZINE, BOOKSTALL, etc

Magazine
Bookstall
Book of Remembrance
Flowers
Magazine
Bookstall
Book of Remembrance
Flowers		 Unrestricted
Funds
£
2,327
100
1,329
-
3,756
Income
2,549
17
1,474
562
4,602		 Restricted
Funds
£
-
-
-
882
882
Expenditure
(2,327)
(100)
(1,329)
(882)
(4,638)		 Endowment
TOTAL
Funds
2023
£
£
-
2,327
-
100
-
1,329
-
882
-
4,638
Surplus/(Defcit)
2023
2022
222
614
(83)
6
145
(78)
(320)
(218)
(36)
324		 TOTAL
2022
£
2,114
-
311
1,306
3,731

9 RUNNING EXPENSES

Abbots Langley
Insurance
Heatng
Lightng
Water
Caretaker
Bedmond
Insurance
Heatng and Lightng
Water		 Unrestricted
Funds
£
4,144
5,971
2,831
232
2,136
15,314
448
2,322
135
2,905
18,219		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-		 Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-		 TOTAL
2023
£
4,144
5,971
2,831
232
2,136
15,314
448
2,322
135
2,905
18,219		 TOTAL
2022
£
4,031
3,827
1,734
208
2,076
11,876
423
1,728
191
2,342
14,218

The costs associated with 40 Kindersley Way are detailed in note 5

Page 19 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

10 Maintenance

Abbots Langley
General Maintenance
Major repairs
Breakspeare room
Organ tuning
Architect's fee
Bedmond
General Maintenance
Major repairs
Architect's fee		 Unrestricted
Funds
£
3,136
-
-
583
-
3,719
2,291
-
-
2,291
6,010		 Restricted
Funds
£
964
16,187
-
-
2,864
20,015
448
-
448
20,463		 Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-		 TOTAL
2023
£
4,100
16,187
-
583
2,864
23,734
2,739
-
-
2,739
26,473		 TOTAL
2022
£
2,035
2,175
-
557
1,699
6,466
1,310
-
1,328
2,638
9,104

The costs associated with 40 Kindersley Way are detailed in note 5

11 CHURCHYARD EXPENDITURE

Repairs
Grass cutng
Petrol and oil
Tree lopping
Equipment
Miscellaneous		 Unrestricted
Funds
£
-
-
-
-
-
-
-		 Restricted
Funds
£
1,471
-
132
80
-
-
1,683		 Endowment
Funds
£
-
-
-
-
-
-
-		 TOTAL
2023
£
1,471
-
132
80
-
-
1,683		 TOTAL
2022
£
1,755
-
126
-
-
228
2,109

During the year the PCC received a grant of £3,000 from Abbots Langley Parish Council towards the cost of maintaining the churchyard.

Page 20 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

12 CHURCH HALL EXPENDITURE

Cleaner
Heatng
Lightng
Water
General Maintenance
Major repairs
Insurance
Miscellaneous		 Unrestricted
Funds
£
3,188
2,317
1,580
232
2,487
13,137
2,911
659
26,511		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-		 TOTAL
2023
£
3,188
2,317
1,580
232
2,487
13,137
2,911
659
26,511		 TOTAL
2022
£
3,660
1,578
1,310
328
1,684
11,108
2,679
1,089
23,436

13 FIXED ASSETS

The Unrestricted Fund Land and Buildings comprises the clergy house at 40, Kindersley Way, Abbots Langley. The property was revalued at 31st December 2020 by YourMove on an open market basis in the sum of £550,000. It was purchased in 1985 at a cost of £112,060.

The Restricted Fund consists of the Church Hall, Church office and the stable block located behind St Lawrence Church. The property, part of which was let throughout 2023 to a local charity, was revalued at 31st December 2010 by Brasier Freeth, Chartered Surveyors in the sum of £550,000 after making allowances for restrictions on its use. Its historic cost was £422,216.

The PCC are not aware of any material changes since the last valuation of the church hall.

GROSS BOOK VALUE
At 1st January 2023
Additons
Disposals
Revaluaton
At 31st December 2023
DEPRECIATION
At 1st January 2023
Charge for the year
Eliminated on disposal
At 31st December 2023
NET BOOK VALUE
At 31st December 2023
At 31st December 2022		 Freehold land and buildings
Unrestricted
Restricted
£
£
550,000
550,000
-
-
-
-
-
-
550,000
550,000
-
-
-
-
-
-
-
-
550,000
550,000
550,000
550,000		 Total
£
1,100,000
-
-
-
1,100,000
-
-
-
-
1,100,000
1,100,000

Page 21 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

14 FIXED ASSET INVESTMENTS

Market
Value
2022
£
CBF Investment Fund
1,321
War Memorial Fund (Endowment)
CBF Investment Fund
234
Church Hall Fund (Endowment)
CBF Investment Fund
237
Church Hall Fund (Endowment)
CBF Investment Fund
17,435
Church Hall Fund (Endowment)
CBF Investment Fund
17,164
General Fund
36,391
15
FINANCIAL INSTRUMENTS
Carrying amount of financial assets
Debt instruments measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost
16
DEBTORS AND PREPAYMENTS
Income tax recoverable
Prepayments and accrued income
17
CURRENT ASSET INVESTMENTS
DBF Deposit Fund
War Memorial (Restricted)
DBF Deposit Fund
Churchyard (Restricted)
18
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
Accruals and deferred income
Other Creditors		 Income
£
-
-
15
-
15		 Withdrawal
£
-
-
-
-
-
-
2023
£
44,403
20,591
2023
£
24,987
19,416
44,403
2023
£
1,924
12,781
14,705
2023
£
8,773
11,818
20,591		 Change in
Market
Value
£
125
22
-
2,157
1,615
3,919		 Market
Value
2023
£
1,446
256
252
19,592
18,779
40,325
2022
£
9,359
16,002
2022
£
3,500
5,859
9,359
2022
£
1,826
12,385
14,211
2022
£
7,156
8,846
16,002

Page 22 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

19 UNRESTRICTED FUNDS

Fund Name
note
General
a
Fixed Assets
b
Property Reserve
c
St Lawrence
d
Hall Refurb
Total £		 Balance
Income
Expenditure
Gains
Transfers
Balance
1st Jan 2023
31st Dec 2023
£
£
£
£
£
£
107,326
203,460
(205,196)
-
1,415
107,005
567,163
-
-
1,615
-
568,778
30,816
1,583
-
-
-
32,399
2,099
-
-
-
-
2,099
17,765
613
(13,137)
-
(3,661)
1,580
725,169
205,656
(218,333)
1,615
(2,246)
711,861		 Represented by assets:
Fixed
Net Current
Total
£
£
£
-
107,005
107,005
568,778
-
568,778
-
32,399
32,399
-
2,099
2,099
-
1,580
1,580
568,778
143,083
711,861

The Unrestricted Funds comprise the General Fund which accounts for the day-to-day income and expenditure of the Church and the following designated funds

Page 23 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

20 RESTRICTED FUNDS Charitable Church Church War Memorial Church War Memorial Fete Flower Legacy Restricted Youth Malawi TOTAL
Fund Hall Yard Fund Fund Fund Fund Fund Property Fund Fund
£ £ £ £ £ £ £ £ £ £ £
Balance at 1st January 2023 149 550,000 1,520 1,562 19 605 - 1,208 751 15,038 570,852
Income 712 - 3,626 99 3,257 562 1,345 17,371 - 14,617 41,589
Expenditure (1,123) - (1,683) - (3,267) (882) (448) (20,014) (1,294) (11,002) (39,713)
Gain on fxed assets and investments - - - - - - - - - - -
Transfer between restricted funds - - - - - - - - - - -
Transfer from other funds 264 - - - - - - 1,435 547 - 2,246
Balance at 31st December 2023 2 550,000 3,463 1,661 9 285 897 - 4 18,653 574,974
Represented by:
Fixed Assets - 550,000 - - - - - - - - 550,000
Net Current Assets 2 - 3,463 1,661 9 285 897 - 4 18,653 24,974
2 550,000 3,463 1,661 9 285 897 - 4 18,653 574,974

The Restricted Funds comprise the following funds:

Page 24 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

21
ENDOWMENT FUNDS
Balance at 1st January 2023
Income
Expenditure
Gain on fxed assets and investments
Balance at 31st December 2023
Represented by:
Fixed Assets
Net Current Assets
22
ANALYSIS OF NET ASSETS BY FUND
Fixed Assets
Net Current Assets		 Unrestricted
Funds
£
568,778
143,083
711,861		 Church Hall
Fund
£
17,906
15
-
2,179
20,100
20,100
-
20,100
Restricted
Funds
£
550,000
24,974
574,974		 War Memorial
Fund
£
1,321
-
-
125
1,446
1,446
-
1,446
Endowment
Funds
£
21,546
-
21,546		 TOTAL
£
19,227
15
-
2,304
21,546
21,546
-
21,546
TOTAL
£
1,140,324
168,057
1,308,381

23 TRANSFERS BETWEEN FUNDS

At the end of 2023 transfers were made to the Charity, Property, and Youth restricted funds to cover the end of year shortfalls totalling £2,246.

24 ASSOCIATED CHARITIES

The Friends of St. Lawrence is a separately constituted charity which exists to provide support to the PCC in its maintenance of the church fabric of St. Lawrence.

During the year a grants totalling £11,150 were made by the Friends towards the costs of : flagpole replacement, tower clock repairs, south porch restoration, and heating system repairs.

The Friends of The Tin Church is a separately constituted organisation which exists to provide support to the PCC in its maintenance of the church fabric of The Church of the Ascension.

25 INDEMNITY INSURANCE

The PCC has purchased indemnity insurance to indemnify the PCC and youth leaders from claims arising from PCC organised activities including youth group activities.

Page 25 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

26 STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2022

INCOME AND ENDOWMENTS FROM:
Donatons and Legacies
Charitable actvites
Other actvites
Investments
Other
TOTAL INCOME
EXPENDITURE ON:
Raising funds
Charitable actvites
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE) BEFORE
GAINS AND LOSSES ON INVESTMENTS
GAINS/(LOSSES) ON REVALUATIONS
GAINS/(LOSSES) ON INVESTMENTS
NET INCOME/(EXPENDITURE)
TRANSFERS BETWEEN FUNDS
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
£
135,050
9,252
61,300
1,396
2,613
209,611
6,622
183,894
190,516
19,095
-
(2,290)
16,805
-
16,805
708,364
725,169		 Restricted
Funds
£
16,515
2,485
3,851
290
-
23,141
258
14,727
14,985
8,156
-
-
8,156
-
8,156
562,696
570,852		 Endowment
Funds
£
-
-
-
10
-
10
-
-
-
10
-
(1,933)
(1,923)
-
(1,923)
21,150
19,227		 TOTAL
2022
£
151,565
11,737
65,151
1,696
2,613
232,762
6,880
198,621
205,501
27,261
-
(4,223)
23,038
-
23,038
1,292,210
1,315,248		 TOTAL
2021
£
143,893
6,325
65,870
583
666
217,337
9,442
201,866
211,308
6,029
-
5,497
11,526
-
11,526
1,280,684
1,292,210

Page 26 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

27 UNRESTRICTED FUNDS 2022 Comparative

Fund Name
General
Fixed Assets
Property Reserve
St Lawrence
Hall Refurb
Total £		 Balance
Income
ExpenditureGains
Transfers
Balance
1st Jan 2022
31st Dec 2022
£
£
£
£
£
£
89,235
208,607 (190,516)
-
-
107,326
569,453
-
-
(2,290)
-
567,163
30,256
560
-
-
-
30,816
2,099
-
-
-
-
2,099
17,321
444
-
-
-
17,765
708,364
209,611 (190,516)
(2,290)
-
725,169		 Represented by assets:
Fixed
Net Current
Total
£
£
£
-
107,326
107,326
567,163
-
567,163
-
30,816
30,816
-
2,099
2,099
-
17,765
17,765
567,163
158,006
725,169

Page 27 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

28
RESTRICTED FUNDS 2022 comparatve
Balance at 1st January 2022
Income
Expenditure
Gain on fxed assets and investments
Transfer between restricted funds
Transfer from other funds
Balance at 31st December 2022
Represented by:
Fixed Assets
Net Current Assets		 Charitable
Church
Church
War Memorial
Fete
Flower
Restricted
Youth
Malawi
TOTAL
Fund
Hall
Yard Fund
Fund
Fund
Fund
Property
Fund
Fund
£
£
£
£
£
£
£
£
£
£
119
550,000
114
1,499
-
619
(459)
1,738
9,066
562,696
1,359
-
3,515
63
2,258
1,292
4,854
-
9,800
23,141
(1,329)
-
(2,109)
-
(2,239)
(1,306)
(3,187)
(987)
(3,828)
(14,985)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
149
550,000
1,520
1,562
19
605
1,208
751
15,038
570,852
105
550,000
-
-
-
-
-
-
-
550,105
44
-
1,520
1,562
19
605
1,209
750
15,038
20,747
149
550,000
1,520
1,562
19
605
1,209
750
15,038
570,852

Page 28 of 29

Abbots Langley PCC Annual Report and Financial Statements 2023

29
2022 ENDOWMENT FUNDS comparatve
Church Hall
Fund
£
Balance at 1st January 2022
19,652
Income
10
Expenditure
-
Gain on fxed assets and investments
(1,756)
Balance at 31st December 2022
17,906
Represented by:
Fixed Assets
17,906
Net Current Assets
-
17,906
30
2022 ANALYSIS OF NET ASSETS BY FUND comparatve
Unrestricted
Restricted
Funds
Funds
£
£
Fixed Assets
567,163
550,105
Net Current Assets
158,006
20,747
725,169
570,852		 War Memorial
Fund
£
1,498
-
-
(177)
1,321
1,321
-
1,321
Endowment
Funds
£
19,227
-
19,227		 TOTAL
£
21,150
10
-
(1,933)
19,227
19,227
-
19,227
TOTAL
£
1,136,495
178,753
1,315,248

Page 29 of 29