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← The Parochial Church Council Of The Ecclesiastical Parish Of Holy Trinity, Redhill

2023-12-31-accounts

Holy Trinity Church, Redhill

Annual Report and Financial Statements for the year ended 31st December 2023

“Saved & Serving” “Seeking & Saving” “Sending & Supporting”

Registered Charity Number 1130733

Annual Report of The Parochial Church Council

Holy Trinity Church, Redhill

Contents

General Information ............................................................................................................. 2
Introduction ............................................................................................................................ 3
Chairman’s Report 2023 ..................................................................................................... 3
Structure, Organisation & Governance....................................................................................... 4
Report of PCC Meetings ........................................................................................................................ 5
PCC Management Committee (PMC) ........................................................................................ 5
Fabric Report ................................................................................................................................................ 6
Financial Review ......................................................................................................................................... 6
Safeguarding ................................................................................................................................................ 8
Deanery Synod ............................................................................................................................................ 8
Future Plans .................................................................................................................................................. 8
Independent Examiner’s Report to the Members of the Parochial Church
Council of Holy Trinity Redhill (‘the charity’) ......................................................................... 10
Statement of Financial Activities for the Year Ended 31 December 2023 ...... 11
Balance Sheet at 31 December 2023 ............................................................................ 12
Statement of Cash Flows ................................................................................................. 13
Notes to the Financial Statements ............................................................................... 14
1.
Accounting Policies ....................................................................................................................... 14
2.
Income ..................................................................................................................................................... 17
3.
Expenditure ........................................................................................................................................ 18
4. Staff Costs ............................................................................................................................................. 19
5.
Fixed Assets ....................................................................................................................................... 20
6.
Investments (All Held In UK) .................................................................................................. 20
7.
Debtors .................................................................................................................................................. 20
8. Liabilities Due Within One Year........................................................................................... 20
9.
Liabilities Due After More Than One Year ...................................................................... 21
10. Analysis of Net Assets of Funds ............................................................................................. 21
11. Fund Details ....................................................................................................................................... 22
12. Pension Scheme .............................................................................................................................. 23
13. Missionary and Other Charitable Giving ....................................................................... 24
14. Related Party Transactions ..................................................................................................... 24
15. Connected Building Project .................................................................................................. 24

1

Annual Report of The Parochial Church Council

Holy Trinity Church, Redhill

General Information

Registered Charity Number 1130733 Registered Charity Name The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity, Redhill Members of the Parochial Church Council

Vicar Mick Hough Assistant Clergy Sarah Alexander Sarah-Louise Schofield Churchwardens Mike Gordge Ruth Inwood Reader Jan Greaves

Deanery Synod Representatives Ruth Inwood (Diocesan Synod) David Keiller David Durant Tim Hart (to May 2023) David Buchan (from May 2023) Roger Clegg (from May 2023) Mike Gordge (from May 2023) Peter Telford (from May 2023) Church Councillors Catriona Sanderson Rowan Moor Nic Wood Sarah Dyer Howard Oldcorn (from May 2023) Peter Schofield (from May 2023) Treasurer David Field (co-opted) Secretary Mark Inwood Management Committee Churchwardens, Operations Director, Sarah Dyer, David Keiller (also the Vicar, ex officio). Correspondence address The PCC Secretary, Holy Trinity Church Centre, Carlton Road, Redhill, Surrey, RH1 2BX PCC Bankers National Westminster Bank plc, Station Road, Redhill, Surrey, RH1 1QN

CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ

Independent Examiner Ajay Rajani FCIE, Stewardship, 1 Lamb’s Passage, London, EC1Y 8AB

2

Holy Trinity Church, Redhill

Annual Report of the Parochial Church Council

The Holy Trinity, Redhill Parochial Church Council has pleasure in presenting its report and the financial statements for the church for the year ended 31 December 2023.

The financial statements comply with the Church Accounting Regulations 2006, the Charities Act 2011, and Accounting and Reporting by Charities: Statement of Recommended Practice 2019 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 and FRS 102.

Introduction

The primary object of the Parochial Church Council is ‘the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England.’

The PCC is a corporate body established by law. It operates under the Parochial Church Council Powers Measure and it is registered as a charity with the Charity Commission. The appointment of PCC members is governed by the Church Representation Rules. New PCC members are provided with an induction pack and invited to a specific PCC meeting shortly after their election at the Annual Parochial Church Meeting, at which their responsibilities as trustees and PCC members are outlined.

The PCC met 9 times in 2023. Its Standing Committee, the PCC Management Committee (PMC), met bi-monthly, generally in months with no PCC meeting, to transact PCC business between meetings. Reports on both PCC and PMC business are provided below.

Chairman’s Report 2023

‘How beautiful are the feet of those who bring good news!’ Romans 10:15

Our verse for the year in 2023 reminded us of our God-given task of proclaiming the good news of Jesus to all who live in the parish of Holy Trinity, Redhill. At the heart of all of our activities as a church and our business as a PCC is the need to maintain a focus on this task of commending faith in Jesus through word and action.

In our outward-facing activities we were delighted to see people coming into an Alpha Course, into our Drop In café, and attending our growing ‘Jump for Joy’ group. We welcomed a number of refugees from Iran and Iraq, each one having fled religious persecution in their homeland – they worshipped with us for over a year, attending not just on a Sunday but English language tuition midweek, before they were relocated. In our ministry in Timperley Gardens a monthly Messy Church ran, along with a regular Cookery Club and a weekly Come and Play group. A joyful Summer Fete and a Community Carols event also attracted large numbers from the estate.

Two necessary improvements were made to the facilities inside Holy Trinity Church: new screens were installed to aid our worship and teaching, and a new lighting system was installed in time for our Christmas services. These have both made a welcome difference to our experience of gathering for worship, and the PCC is grateful for the Rene Buckman legacy that funded much of the cost of the work, and for the generosity shown by David Burch as he gave his own time and professional expertise to the project (thus reducing the cost to the PCC significantly).

The PCC also conducted a Services Review, which invited members of the congregation to answer questions around our Sunday services. The PCC spent a Saturday morning looking at the responses and identifying 4 main themes for focus:

  1. All Age Services 2. Home Groups 3. Holy Communion

  2. Integrating our Focus age members into corporate worship

3

Holy Trinity Church, Redhill

Each of these areas are under review and in some cases, action has already been taken to address the questions raised. More work will be done.

The PCC made two staffing appointments in 2023. Esther Menary was appointed to a new role of full time Family, Youth and Children’s Minister, and Michael Durant started a two-year course of parttime study with Union School of Theology, combining this with a part-time role of Ministry Associate at HT.

Mick Hough , PCC Chair

Structure, Organisation & Governance

PCC members are elected by the Annual Parochial Church Meeting each year as provided for in the Church Representation Rules.

The PCC has reviewed the major risks applicable to the Church and has put in place procedures to mitigate those risks. The PCC consider that the principal risks, and their plans and strategies for managing those risks, are:

When planning activities for the year, the incumbent and the PCC have considered the Charity Commission's guidance on public benefit.

The investments held in the Endowment Fund are managed on a day-to-day basis by the Southwark Diocesan Board of Finance.

4

Holy Trinity Church, Redhill

Report of PCC Meetings

Parochial Church Councils were set up by Act of Parliament in 1919. The aim of the PCC as stated in the PCC (Powers) Measure 1958 is to ‘co-operate with the minister in promoting in the parish the whole mission of the church, pastoral, evangelistic, social and ecumenical.’ PCC members are trustees of the charity. The incumbent is the chairman ex officio, and there is a lay chair to share the leadership as necessary. A list of PCC members is shown on page 2 of this report.

Holy Trinity PCC met on 9 occasions during 2023 – 6 meetings covering general business, two “PCC mornings” to discuss strategic themes, and one meeting focussed on the Connected building project. In addition, the PCC management committee met 5 times. Holy Trinity’s triennial representation on Deanery Synod was renewed this year.

The Connected building project made considerable progress during 2023 and PCC was involved throughout the year, dealing with building design options, financing, VAT liability of the project, enquiries from the Charity Commission, communication with the Diocesan Advisory Committee, and preliminary plans for the implementation phase, when facilities provided by the church centre will be lost. Progress made on these fronts allowed PCC to move ahead by approaching church family members to fulfil their financial pledges.

PCC conducted a review of our worship services to determine how well they serve the church, engage and integrate our youth, and offer an accessible introduction to those seeking (or new to) faith in Christ. Recommendations were made and communicated to the church family.

Decisions by General Synod following the Church of England’s “Living in Love and Faith” exercise, dealing with issues of human sexuality, were discussed on several occasions by PCC. An audit was conducted to consider how we as a church deal with these issues, with the PCC coming away with a desire to offer the radical welcome of Jesus to those around us, whilst remaining faithful to what God has revealed in the Bible.

Staffing issues remained an important focus for PCC. The post of Assistant Minister with Responsibility for Families, Youth and Children was successfully filled, and a new post of Ministry Associate was created and recruited. Funding for our various ministry roles was kept under review by PCC.

The PCC oversaw the funding and implementation of a number of repairs to outside stonework and roofing, as well as major improvements to the lighting and the visual display screens inside the church.

In addition to these major items, the regular business of safeguarding, financial management and upkeep of premises has continued throughout 2023, allowing the PCC to provide public benefit by overseeing pastoral care for parishioners, by provision of key ceremonies such as baptisms, weddings, and funerals, and by provision of meeting space for a variety of groups in the community.

Mike Gordge, Lay Chair

PCC Management Committee (PMC)

The PMC is the standing committee of the PCC, meeting to deal with business between PCC meetings. It comprises the Vicar, Churchwardens, Operations Director, and has space for three other elected members of the PCC, of which two were filled in 2023.

In 2023 the PMC met on 5 occasions, dealing with matters of finance, fabric, staffing, and the Connected Building Project.

The PMC responds to financial requests from staff and various teams and has approved expenditure on projects throughout the year.

Thanks are due to Mark Inwood in his role as minute secretary.

Mick Hough, Chair of PMC

5

Holy Trinity Church, Redhill

Fabric Report

Our fabric team supports the churchwardens in their responsibility for maintenance of the church buildings and grounds and, together with the wardens, comprises the operations director and volunteer members of the church family with relevant professional experience and expertise.

The Fabric Team met in person in February and November of 2023 to undertake physical inspection of maintenance issues. Further business was conducted by email throughout the year. Several major items of work deriving from earlier inspections were brought to completion by outside contractors during 2023, overseen by the fabric team. These include:

Following a fall of ceiling plaster in the choir vestry, quotes were obtained from preferred contractors and repair work scheduled for completion during January 2024.

As well as these large items, routine maintenance continued, including repair of felt roofing on the church foyer and clearance of gutters. A project was initiated to monitor moisture levels in the south wall with a view to re-plastering, once the wall is dry enough.

In view of the anticipated renewal of our church centre as part of the Connected building project, expenditure on the church centre has largely been restricted to items essential for health and safety reasons.

We would like to acknowledge the continuing excellent work of volunteers to maintain our grounds. Fresh plantings were made to flower beds on the South side of the church and lawns were kept in good order throughout the year - this is much appreciated.

Mike Gordge and Ruth Inwood, Churchwardens

Financial Review

I am thankful for all who have supported the ministry at Holy Trinity by giving directly to PCC general funds, and also to the Connected building project.

The PCC set a deficit budget for 2023 of £31,135, in cash terms, reflecting assumptions about the level of donations still being lower than before the pandemic and there being additional staffing costs. The overall results were better than this and explanations of the most significant variances against the budget and the previous year’s income and expenditure are given below.

Setting aside the Connected Building project, when compared to 2022 income increased by £5,000 to £440,000. Grant income increased by £44,500 largely due to the receipt of some significant grants from the Friends of Holy Trinity, given mainly to help pay for lighting works, stonework repairs, and church upkeep and maintenance. This was partly offset by a reduction of:

6

Holy Trinity Church, Redhill

Again, setting aside the Connected Building project, expenditure rose by £67,000 from 2022 expenditure to £520,000. In all the PCC spent an additional:

These increases were offset by a reduction of £15,000 in event costs because there was no church weekend away this year.

The overall deficit on the above activities was £80,000 for 2023. After excluding the non-cash charge of £19,000 for depreciation and £37,000 spent on lighting improvements which fell outside of the budget, the deficit was £24,000. This was better than the cash deficit budgeted for the year, which was £31,000.

Donations (including Gift Aid) to the Connected Building project increased by £150,000 from 2022 to £324,000, and expenditure on this project fell by £3,000 to £18,000. In all, £306,000 was added to the building fund this year and the year-end balance on the building fund was £1,932,000.

The net surplus from all activities was £226,000 and net assets increased by this amount to £2,472,000. Net assets comprised fixed assets of £473,000, cash of £2,024,000 (most of which was held by the building fund), other net current assets of £50,000, less a loan liability of £75,000.

The PCC aims to hold cash of no less than £80,000 in unrestricted funds at all times so as to help ensure that it continues to operate smoothly should income and / or expenditure vary unexpectedly. At the year end the charity held cash of £120,121 (2022: £146,902) in unrestricted funds and the PCC is complying with its reserves policy. The PCC notes this includes cash of £33,764 held in a designated fund arising from a previous legacy, which could be used by the PCC as no spending commitments have yet been made.

The PCC has again planned for a cash deficit in 2024 equal to £55,731. This reflects current levels of donated income, which will need to increase, and inflation affecting the existing cost base. This deficit can be managed in the short term from the cash reserves held, but the PCC will need to reduce the deficit through various means. The PCC will continue to monitor the financial position and will seek to take action to bring income and expenditure into balance in this and subsequent years.

Managing the PCC finances is a team effort. Day-to-day financial management, including the preparation of management accounts for the PCC, has been overseen by the Operations Director, Tim Menary, and the Finance Officer, Mark Froy-Smith. I am very grateful to Tim and Mark, as well as to Keith Palmer as assistant treasurer, Dayo Ajayi as Gift Aid secretary, the banking team., and for the support offered by David Buchan.

David Field, Treasurer

7

Holy Trinity Church, Redhill

Safeguarding

The PCC is responsible for the safeguarding of children and vulnerable adults. The members of the PCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.

At Holy Trinity there are three Parish Safeguarding Officers (PSOs)

Anne Smith DBS checks and Under 5s Michael Barrow Children and Young People Ruth Inwood Vulnerable Adults

All three Parish Safeguarding Officers (PSOs) can be contacted individually via ChurchSuite details, or there is a dedicated Safeguarding phone number for contact (07896 739 170). The team can also be contacted by email at safeguarding@htredhill.com.

As well as our contacts at Holy Trinity, there is a 24-hour phone number for the Diocesan Safeguarding Advisor, Pamela Chisholm (020 7939 9412/ out of hours 07982 279 713)

The Safeguarding team will continue to monitor incidents and ensure good practice across all the activities at Holy Trinity.

Ruth Inwood

Churchwarden and Lead PSO

Deanery Synod

Reigate Deanery Synod, which covers 22 local parishes, met three times last year in person. The first meeting at St Mary’s Reigate considered how churches in the deanery were fulfilling the diocesan vision of Welcoming, Walking and Growing, highlighting the work of the foodbank, the welcome for Ukrainian refugees and baptisms of refugees. The second meeting at Christ the King Salfords debated and passed a motion asking the powers that be to change Marriage Law to allow clergy to conduct marriages in other venues as well as churches. The final meeting at St John’s Redhill discussed the background to the marriage motion passed at the previous meeting before passing it on to Diocesan Synod for consideration. This meeting also looked at the Diocesan Vision and Investment Programme for 2023-2035.

David Keiller, Deanery Synod member

Future Plans

After many years of planning, pausing, praying and appeals for funding, this year will – we trust – see the existing church centre demolished and a new Connected centre built.

This will require us to move our 10am Sunday services, as well as some of our midweek activities, to alternative locations for a period of between 12 months and 18 months. We are grateful to those who have already shown their readiness to offer us accommodation.

This will involve a huge logistical operation, initially as we empty the existing building and then week by week as we run our operations in this temporary arrangement. By God’s grace we pray that this will be a period of growth in faith and in fellowship as we share together in the experience of being out of the church buildings, but with a vision for our return to a Connected building.

Mick Hough, Vicar

8

Holy Trinity Church, Redhill

Statement of Parochial Church Council Responsibilities

The Parochial Church Council members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Charity Law requires the Parochial Church Council to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the church and of its financial activities for that period. In preparing those financial statements the Parochial church Council is required to:

The Parochial Church Council is responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the church, and enable them to ensure that the financial statements comply with regulations made under the Church Accounting Regulations 2006. It is also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the PCC and signed on their behalf by:

Rev Mick Hough – Chair

Date: 2[nd] May 2024

9

Holy Trinity Church, Redhill

Independent Examiner’s Report to the Members of the Parochial Church Council of Holy Trinity Redhill (‘the charity’)

I report to the members of the PCC (who are also the charity’s trustees) on my examination of the accounts of the Charity for the year ended 31 December 2023 set out on pages 11 to 24.

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 Act’).

I report in respect of my examination of the Charity’s accounts as carried out under section 145 of the 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 Church’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 Fellow of the Association of Charity Independent Examiners, 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:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report) 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.

Ajay Rajani FCIE

Fellow of the Association of Charity Independent Examiners

Stewardship

1 Lamb’s Passage London EC1Y 8AB

Date: 3[rd] May 2024

10

Statement of Financial Activities for the Year Ended 31 December 2023

Un
Note
Income from:
Donations and
legacies
2(a)
Other trading
activities
2(b)
Investments
2(c)
Charitable
activities
2(d)
Other
2(e)
Total income
Expenditure on:
Charitable
activities
3(a)
Raising funds
3(b)
Other
3(c)
Total
expenditure
Net
gains/(losses) on
investments
6
Net income /
(expenditure)
Transfers
between funds
Net movement
in funds
Balance
brought forward
1 January
Balance carried
forward 31
December		 restricted
Funds
R
£
341,278
1,927
6,126
26,114
25
375,470
423,571
2,254
(1,750)
424,075
(48,605)
8,728
(39,877)
530,222
490,345		 2023
estricted
Funds
En

£
360,755
-
27,576
-
-
388,331
113,679
-
-
113,679
274,652
(8,728)
265,924
1,671,465
1,937,389		 dowment
Funds

£
-
-
-
-
-
-
-
-
-
-
400
400
0
400
43,522
43,922		 Total Funds
Unr

£
702,033
1,927
33,702
26,114
25
763,801

537,250
2,254
(1,750)
537,754
400
226,447
0
226,447
2,245,209

2,471,656		 estricted
Funds
Re

£
377,958
16,471
6,668
19,692
1,220
422,009
414,635
17,248
4,332
436,215
-
(14,206)
-
(14,206)
544,428
530,222		 2022
stricted
Funds
End

£
177,163
-
9,899
-
-
187,062
37,114
-
-
37,114
-
149,948
-
149,948
1,521,517
1,671,465		 owment
Funds
£
-
-
-
-
-
-
-
-
-
-
(3,454)
(3,454)
-
(3,454)
46,976
43,522		 Total Funds
£
555,121
16,471
16,567
19,692
1,220
609,071
451,749
17,248
4,332
473,329
(3,454)
132,288
-
132,288
2,112,921
2,245,209

11

Balance Sheet at 31 December 2023

Note
Fixed assets
Tangible fixed assets
5
Investments
6
Current assets
Stocks
Debtors
7
Cash at bank and in hand
Liabilities(falling due within one year)
8
Net current assets
Total assets less current liabilities
Liabilities(falling due after more than one year)
9
Total net assets
10
Funds
General Fund
Designated Funds
11
Total Unrestricted
Restricted
11
Endowment
11		 2023
2022
£
£
429,352
427,165
43,922
43,522
473,274
470,687
319
335
99,639
74,527
2,023,960
1,792,536
2,123,918
1,867,398
(50,656)
(16,246)
2,073,262
1,851,152
2,546,536
2,321,839
(74,880)
(76,630)
2,471,656
2,245,209
456,581
496,458
33,764
33,764
490,345
530,222
1,937,389
1,671,465
43,922
43,522
2,471,656
2,245,209		 2023
2022
£
£
429,352
427,165
43,922
43,522
473,274
470,687
319
335
99,639
74,527
2,023,960
1,792,536
2,123,918
1,867,398
(50,656)
(16,246)
2,073,262
1,851,152
2,546,536
2,321,839
(74,880)
(76,630)
2,471,656
2,245,209
456,581
496,458
33,764
33,764
490,345
530,222
1,937,389
1,671,465
43,922
43,522
2,471,656
2,245,209

470,687

335
74,527
1,792,536
1,867,398
(16,246)
1,851,152
2,321,839
(76,630)

2,245,209
496,458
33,764

530,222
1,671,465
43,522

2,245,209

Approved by the Parochial Church Council and signed on its behalf by:

Rev Mick Hough – Chair

Date: 2[nd] May 2024

12

Holy Trinity Church, Redhill

Statement of Cash Flows

For the year ended 31 December 2023

Analysis of changes in Net Debt
31 December 2022
Cash
1,792,536
Long term liability
(76,630)
Total
1,715,906
UNRESTRICTED FUNDS
Donations from Members
Gift Aid Income Tax
Legacies
Other Income from Members

Church Centre Lettings

Grants

Investment Income received
Other Income
Local Expenditure
Transfer from restricted funds
Diocesan contribution
Missionary and Charitable Giving Activities
Change in Long Term Loan Liability
Net movement of funds for the reporting period
(as per the SoFA)
RESTRICTED FUNDS
Net movement of funds for the reporting period
(as per the SoFA)
TOTAL FLOWS FROM OPERATING ACTIVITIES
Adjustment for:
Investment income
Depreciation charges
Change in Long term Loan Liability
(Increase)/decrease in Stock
(Increase)/decrease in Debtors
Increase/(decrease) in Creditors
Net Cash provided by Operating Activities
Cash Flows from Investing Activities
Investment Income received
Purchase of Fixed Assets
TOTAL ALL FUNDS
Change in Cash and Cash Equivalents
Cash and Cash Equivalents at 1 January
Cash and Cash Equivalents at 31 December		 Change in year
31 December 2023
231,424
2,023,960
1,750
(74,880)
233,174
1,949,080
2023
2022
£
£
£
£
286,057
306,240
50,825
58,122
-
1,623
11,189
24,854
20,748
15,206
500
8,076
6,126
6,668
25
1,220
375,470
422,009
217,202
230,655
(8,728)
-
174,534
171,635
34,089
29,593
(1,750)
4,332
415,347
436,215
(39,877)
(14,206)
265,924
149,948
226,047
135,742
(33,702)
(16,567)
18,920
13,645
(1,750)
4,332
16
(9)
(25,112)
(23,536)
34,410
(14,180)
218,829
99,427
33,702
16,567
(21,107)
(7,608)
12,595
8,959
231,424
108,386
1,792,536
1,684,150
2,023,960
1,792,536

13

Notes To the Financial Statements

Holy Trinity Church, Redhill

Notes to the Financial Statements

For the year ended 31 December 2023

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice 2019 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102, FRS102 and the Charities Act 2011.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view.

The PCC has prepared detailed forecasts and cash flow projections which it believes are based on reasonable assumptions. The forecasts show that the charity should be able to operate for the foreseeable future, and that there are no material uncertainties about its ability to continue, and so the PCC considers it appropriate to prepare the financial statements on the going concern basis.

The financial statements have been prepared under the historical cost convention except for the valuation of fixed asset investments and a value linked loan, which are measured at fair value. They are presented in pounds sterling, rounded to the nearest £1. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. The PCC of Holy Trinity Redhill is a corporate body and a charity registered in England and Wales (charity no. 1130733). Its registered place of operations is Holy Trinity Church Centre, Carlton Road, Redhill, Surrey, RH1 2BX. The Church meets the definition of a public benefit entity under FRS102.

The financial statements include all activities for which the PCC is legally responsible; the activities of informal gatherings of church members and groups that owe their main affiliation to another body and are excluded.

Funds

General funds are unrestricted funds which are available for use at the discretion of the PCC in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.

14

Notes To the Financial Statements

Holy Trinity Church, Redhill

Income

Income is recognised in the period in which the PCC becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part income is generally recognised when it is received by, or on behalf of, the PCC. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes planned giving, collections, legacies and other donations. Gift Aid is recognised when the related donation is received and gift aid that has not been recovered by the balance sheet date is included as a debtor.

Income from charitable activities comprises income receivable from goods, services and facilities supplied in furtherance of the PCC’s charitable objects. It includes income from church events and activities, from letting church premises for community benefit, from weddings and funerals and from a bookstall.

Income from other trading activities comprises income receivable from activities undertaken to generate funds for the charity.

Investment income comprises dividends and interest receivable from investments and cash deposits. Interest that has been earned but not received by the balance sheet date is included as a debtor.

The time donated by volunteers is not recognised in the financial statements because its value cannot be reliably measured, but their important and significant contributions are discussed in the trustees’ report.

The PCC has taken the view that it has only one charitable activity, namely the advancement of the Christian faith, and all income is in respect of this one activity.

Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably. Where the effect of discounting is material, longer term liabilities are discounted to present value.

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

Contributions in respect of the diocesan Parish Support Fund are included in the Statement of Financial Activities for all amounts agreed to being payable for the financial year. Any contributions that have not been paid over by the year end are included as a creditor.

The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the church is considered to be so integrated that the core charitable activity costs are considered to be for the one activity.

15

Notes To the Financial Statements

Holy Trinity Church, Redhill

Fixed assets

Consecrated and beneficed property of any kind is excluded from the accounts by s.10 (2)(a) of the Charities Act 2011. Properties are valued at historic cost.

Other fixed assets with a purchase price of over £2,000 are capitalised and depreciated as follows:

Church Centre building 2% on cost Furnishings 10% on cost Kitchen Equipment 10% on cost Equipment 25% on cost

Freehold land is not depreciated. Depreciation is not provided on freehold residential buildings where the estimated residual value is considered to be the same or higher than the carrying value of the building in the accounts.

Investments

Investments are valued at fair value at 31[st] December, being the quoted market price. Any revaluation necessary is recognised as gains or losses on investments.

Debtors

Amounts owed to the church for goods and services and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash deposits and investments that can be readily accessed.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising 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 recognised at their settlement amount.

Financial instruments

Most of the PCC’s financial assets and liabilities are of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. The long term value-linked loan is a non-basic financial instrument and is recognised at fair value.

16

Notes To the Financial Statements

Holy Trinity Church, Redhill

2. Income
2(a)Donations and
legacies
Planned giving
- Gift Aided
- Tax recoverable
- Non Gift Aided
- Envelope scheme
Collections
Building Project
- Gift Aided
- Tax recoverable
- Non Gift Aided
Other Donations &
legacies
Grants
Allsorts
2(b) Other trading
activities
Courses and events
2(c)Income from
investments
Dividends and
interest
2(d) Income from
charitable activities
Church Centre
lettings
Bookstall
Fees
2(e)Other income
Other
Total income		 2023
£
£
£
Unrestricted
Restricted
Total
232,216
-
232,216
50,825
-
50,825
47,061
-
47,061
55
-
55
3,027
1,081
4,108
-
203,537
203,537
-
37,942
37,942
54,770
54,770
3,698
0
3,698
500
63,309
63,809
3,896
116
4,012
341,278
360,755
702,033
1,927
-
1,927
1,927
-
1,927
6,126
27,576
33,702
6,126
27,576
33,702
20,748
-
20,748
1,366
-
1,366
4,000
-
4,000
26,114
-
26,114
25
-
25
25
-
25
375,470
388,331
763,801		 2022
£
£
£
Unrestricted
Restricted
Total
271,123
-
271,123
58,122
-
58,122
30,512
-
30,512
190
-
190
3,170
2,128
5,298
-
71,416
71,416
-
16,794
16,794
75,688
75,688
2,868
2,868
8,076
11,102
19,178
3,897
35
3,932
377,958
177,163
555,121
16,471
-
16,471
16,471
-
16,471
6,668
9,899
16,567
6,668
9,899
16,567
15,206
-
15,206
1,470
-
1,470
3,016
-
3,016
19,692
-
19,692
1,220
-
1,220
1,220
-
1,220
422,009
187,062
609,071

17

Notes To the Financial Statements

Holy Trinity Church, Redhill

3. Expenditure
3(a)Charitable activities
Missionary & charitable
giving_(Note 13)
- Overseas
- Relief & Development
- Home
Timperley Family Church
_Ministry
- Parish Support Fund
- Fees
- Clergy expenses
- Ministry Associate
- Youth, children’s ministers
- Ministry & youth training
PCC donations
Governance: Independent
examination
Church running costs
Church equipment
depreciation
Church maintenance
Services
Church Centre running
costs
Church Centre depreciation
Church Centre maintenance
Church Centre building
project
Bookstall
Youth & outreach
Organist & choir
Church management &
administration
Administration
Office expenses,
equipment
Allsorts
Other
3(b)Raising funds
Courses and events
3 (c)Other expenditure
Change in loan liability
Total expenditure		 2023
£
£
£
Un-
restricted
Restricted
Total
18,938
-
18,938
-
313
313
11,490
768
12,258
3,661
12,983
16,644
34,089
14,064
48,153
174,534
-
174,534
716
-
716
4,047
-
4,047
3,606
-
3,606
22,056
-
22,056
1,298
1,000
2,298
-
-
-
3,680
-
3,680
-
8,569
8,569
4,627
-
4,627
-
50,130
50,130
2,283
-
2,283
30,353
13,561
43,914
14,293
-
14,293
-
9,094
9,094
1,812
17,788
19,600
1,448
-
1,448
24,328
-
24,328
5,912
-
5,912
75,683
-
75,683
14,744
-
14,744
4,062
(527)
3,535
-
-
-
423,571
113,679
537,250
2,254
-
2,254
2,254
-
2,254
(1,750)
-
(1,750)
(1,750)
-
(1,750)
424,075
113,679
537,754		 2022
£
£
£
Un-
restricted
Restricted
Total
17,384
-
17,384
-
1,244
1,244
11,210
918
12,128
999
7,718
8,717
29,593
9,880
39,473
171,635
-
171,635
858
-
858
2,961
-
2,961
-
-
43,310
-
43,310
468
-
468
550
-
550
2,307
-
2,307
12,736
-
12,736
-
-
-
-
1,898
1,898
3,101
-
3,101
22,205
-
22,205
13,643
-
13,643
4,998
-
4,998
10,944
20,543
31,487
1,885
-
1,885
14,286
4,068
18,354
5,365
-
5,365
57,318
-
57,318
12,057
-
12,057
3,544
725
4,269
871
-
871
414,635
37,114
451,749
17,248
17,248
17,248
17,248
4,332
4,332
4,332
4,332
436,215
37,114
473,329

18

Notes To the Financial Statements

Holy Trinity Church, Redhill

4. Staff Costs

Wages and Salaries
Pension costs
Social security (net of employment allowance)		 2023
£
132,773
5,532
1,462
139,767		 2022
£
124,764
5,332
3,012
133,108

No member of staff earns £60,000 or more. The only Key Management Personnel, other than the trustees, deemed to have authority and responsibility delegated to them by the trustees for planning, controlling and directing the activities within Holy Trinity Church, is the Operations Director, who received employment benefits of £35,805 (2022: £17,089). The Families, Youth and Children’s Minister, appointed in April 2023, is married to the Operations Director and is therefore considered to be a related party. Her remuneration was £23,369.

The average employee head count was 12 (2022: 11.5). The average number of staff equivalent to full time employees was 4 (2022:4).

No redundancy payments were made (2022: none).

The clergy, who are ex-officio PCC members, receive a stipend but this is met under Church of England arrangements, and they are not remunerated by the PCC. Three clergy claimed £4,047 expenses as part of their ministry work (2022: £2,292). This figure is not the same as the figure for clergy expenses at Note 3 as it only includes expenses which were directly claimed by individual clergy, not all costs incurred in respect of ministry staff. Relevant expenses include mileage costs to pastoral visits and funerals; mobile phone costs; and books and commentaries purchased for sermon and study preparation.

No member of the PCC received any remuneration, nor any payment of expenses, in respect of their work as a trustee. During the year, IT support services to the value of £720 (2022: £780) were purchased from a company owned by PCC member, Mr David Durant, who also received remuneration in his role as organist.

Aggregate remuneration paid to individuals who were also serving members of the PCC, and persons closely connected to them (and persons closely connected to key management personnel), was £55,685 (2022: £31,205). All such remuneration is permitted under s185 of the Charities Act 2011. These benefits include gross salary and the employer’s contribution to the pension scheme:

2023
£
£
Salary
Pension
DD (Organist)
5,597
-
EM (Families, Youth & Children’s
Minister, from Apr 23)
22,256
1,113
ND (Church Administrator)
14,460
723
MD (Ministry Associate, from Sep
23)
3,606
180
LAC (Church Administrator, from
May 23)
7,381
369
LB (Youth Minister to end March
2022)
-
-
RH (Vicar’s PA to end August
2022)
-
-
Total
53,300
2,385		 2022
£
£
£
£
Total
Salary
Pension
Total
5,597
4,877
-
4,877
23,369
15,183
13,214
661
13,875
3,786
7,750
-
6,364
419
6,783
-
5,400
270
5,670
55,685
29,855
1,350
31,205

19

Notes To the Financial Statements

Holy Trinity Church, Redhill

5. Fixed Assets

5.
Fixed Assets
Freehold Buildings:
Church Centre PCC Curate’s Total
Centre Contents Equipment House
Cost £ £
£		 £ £
At 1 January 2023 644,158 48,408 26,388 83,000 801,954
Additions during year - 2,598 18,509 - 21,107
At 31 December 2023 644,158 51,006 44,897 83,000 823,061
Depreciation
At 1 January 2023 306,840 41,561 26,388 - 374,789
Charge for year 12,883 1,410 4,627 - 18,920
At 31 December 2023 319,723 42,971 31,015 - 393,709
Net book value at
31 December 2023 324,435 8,035 13,882 83,000 429,352
Net book value at
31 December 2022 337,318 6,847 - 83,000 427,165
6.
Investments (All		 Held In UK)
31 December
2023 2022
£ £
CBF Investment Fund: 582 shares 13,156 12,016
M&G Charifund: 2,144 units 30,766 31,506
Market value at year end 43,922 43,522
Value at 1 January 43,522 46,976
Revaluation (loss) / gain 400 (3,454)
Value at 31 December 43,922 43,522
7.
Debtors
31 December
2023 2022
£ £
Goods and services - 562
Accrued income tax recoverable 64,175 62,662
Prepayments & other accrued income 13,728 11,303
Grants receivable 21,736 -
Legacies receivable - -
99,639 74,527
8.
Liabilities Due Within One Year
31 December
2023 2022
£ £
Accruals 45,525 12,687
Accrual for examiner’s fee 3,000 2,200
Tax and social security 2,131 1,359
50,656 16,246

20

Notes To the Financial Statements

Holy Trinity Church, Redhill

9. Liabilities Due After More Than One Year

The PCC has a non-interest bearing loan repayable on disposal of the property in Colman Way (Curate’s House). The property was purchased for £322,000 which was partly funded by a loan of £60,000 and the liability varies in line with the likely disposal proceeds of the property. This is estimated at each year end by the PCC using market information (£428,500 at 31 December 2023, £441,000 at 31 December 2022). The PCC does not anticipate repayment before 31 December 2024.


B/f provision
Change in liability
C/f provision		 31/12/23
31/12/22
£
£
76,630
72,298
(1,750)
4,332
74,880
76,630

10. Analysis of Net Assets of Funds

0.
Analysis of Net Assets of Funds
Unrestricted
At 31 December 2023
£
Fixed assets
429,352
Current assets
147,335
Current and long-term liabilities
(86,342)
490,345
At 31 December 2022
£
Fixed assets
427,165
Current assets
194,683
Current and long-term liabilities
(91,626)
530,222		 Restricted
Endowment
£
£
-
43,922
1,976,583
-
(39,194)
-
1,937,389
43,922
£
£
-
43,522
1,672,715
-
(1,250)
-
1,671,465
43,522		 Total
£
473,274
2,123,918
(125,536)

2,471,656

£
470,687
1,867,398
(92,876)
2,245,209

21

Notes To the Financial Statements

Holy Trinity Church, Redhill

11. Fund Details

Designated Funds

Balance
1 January
2023
Income
2023
Expenditure
2023
£
£
£
EC Legacy
33,764
-
-
Balance
1 January
2022
Income
2022
Expenditure
2022
£
£
£
EC Legacy
41,596
-
(224)		 Transfers
2023
Balance
31 December
2023
£
£
-
33,764
Transfers
2022
Balance
31 December
2022
£
£
(7,608)
33,764

The legacy from the estate of Evelyn Curtis (EC), which was included as income in 2020, and received in 2021, was not restricted. Her will indicated that this was “to help with the Church and Senior Citizens’ lunches if necessary” and the PCC has accordingly designated this to be used for catering equipment or similar purposes. The legacy received was transferred from general funds to this designated fund in 2021. In 2022 the cost of the new cooker and its installation (which have been capitalised), and other kitchen equipment, has been charged to this fund. There was no relevant expenditure in 2023.

Restricted Funds

Building
Church repairs
Friends of Holy Trinity
Charitable giving
Allsorts
Timperley Church
Cookery Club
Raven Housing
Building
Church repairs
Charitable giving
Allsorts
Timperley Church
Cookery Club
Parish Nursing
Raven Housing
Balance
1 January
2023
I
£
1,626,034

36,216
-
-
1,252
4,540
2,830
593

1,671,465
Balance
1 January
2022
£
1,472,780
38,114
35
1,942
1,539
2,446
4,068
593
1,521,517		 ncome
2023
Expenditure
2023
Transfers
2023
Balance 31
December
2023
£
£
£
323,825
(17,788)
-
1,932,071
-
(27,488)
(8,728)
-
54,866
(54,866)
-
-
1,081
(1,081)
-
-
116
527
-
1,895
5,000
(9,540)
-
-
3,443
(2,850)
-
3,423
-
(593)
-
-
388,331
(113,679)
(8,728)
1,937,389
Income
2022
Expenditure
2022
Transfers
2022
Balance 31
December
2022
£
£
£
£
173,798
(20,544)
-
1,626,034
-
(1,898)
-
36,216
2,127
(2,162)
-
-
35
(725)
-
1,252
9,999
(6,998)
-
4,540
1,103
(719)
-
2,830
-
(4,068)
-
-
-
-
-
593
187,062
(37,114)
1,671,465

22

Notes To the Financial Statements

Holy Trinity Church, Redhill

Purpose of Restricted Funds:

Building – funds for the church centre Connected building project. Expenditure on the project is charged to this restricted fund except where it has been on the option of renewing, rather than rebuilding, the church centre; this has been charged to the General Fund (see Note 3).

Church repairs (Buckman legacy) – legacy given specifically for the maintenance of the church buildings. The remaining funds have been fully utilised on stonework repairs, AV equipment, and new church lighting. During the year £8,728 was transferred from the restricted Church repairs fund to unrestricted funds in respect of capital expenditure incurred during the year on new AV screens, which satisfied the restriction on the Church repairs fund. This fund is now closed.

Friends of Holy Trinity - Grants given for ministry training (£1,000), specific items of equipment for the church centre, and to cover costs of church maintenance (including the balance of the new lighting), church running costs, and church centre maintenance and running costs. The sums granted were all spent on these purposes during the year. Charitable giving – Specific donations to mission and other charitable organisations (Note 13).

Allsorts – Legacies received for the Allsorts “Holiday club” for seniors. The negative expenditure figure reflects a reallocation of the previous year’s costs.

Timperley Church – grants received from Southwark Diocese supporting the work at Timperley Church, Redhill, through the employment of a staff member. The fund has now been fully utilised and future salary payments are being met from general funds. Timperley Cookery Club – grants were received from Reigate and Banstead Council in previous years to purchase equipment to enable the expansion of a cookery club which operates as part of the work of Timperley Church. More equipment was purchased in early 2023 from a grant received in 2022, and further grants were received in 2023. Raven Housing - Grant received supporting the work at Timperley Church, Redhill. This money has been spent on various items and the fund is now closed.

Endowment Funds

2023 Balance Income Expenditure Revaluation Balance
1 January 31 December
43,522 400 43,922
2022 Balance Income Expenditure Revaluation Balance
1 January 31 December
£ £ £ £ £
46,976 - - (3,454) 43,522

The Endowment Fund is a bequest, income from which is for the general expenses of the PCC. The Custodian Trustee is Southwark Diocesan Board of Finance.

12. Pension Scheme

The PCC operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the PCC in an independently administered fund. The pension cost charge represents the employer’s contributions payable to the Fund and amounted to £5,532 (2022: £5,332).

23

Notes To the Financial Statements

Holy Trinity Church, Redhill

13. Missionary and Other Charitable Giving

Unrestricted
Crosslinks
3,787
A Rocha Kenya
3,788
Interserve
-
Mission Aviation Fellowship
-
Navigators
3,788
Church Mission Society
3,787
Wycliffe Bible Translators
3,788
Total Overseas
18,938
Tear Fund
-
Total Relief & Development
-
Church Pastoral Aid
Society
3,786
SparkFish
3,786
Support for an individual
serving with UCCF
3,786
Renewed Hope Trust
-
Children’s Society
-
South London Church
Fund
132
Mayor’s charities
Total Home
11,490
Total
30,428		 2023

Restricted
Total
Unrestricted

-
3,787
-
-
3,788
-
-
-
3,100
-
-
3,100
-
3,788
3,728
-
3,787
3,728
-
3,788
3,728
18,938
17,384
313
313
-
313
313
-
-
3,786
3,728
-
3,786
3,728
-
3,786
3,754
544
544
-
-
-
-
224
356
-
-
768
12,258
11,210
1,081
31,509
28,594		 2022
Restricted
-
-
-
-
-
-
-
-
1,244
1,244
-
-
-
410
150
207
151
918
2,162		 Total
-
-
3,100
3,100
3,728
3,728
3,728
17,384
1,244
1,244
3,728
3,728
3,754
410
150
207
151
12,128
30,756

14. Related Party Transactions

During the year, total income of £179,793 (2022: £74,073) was received from members of the PCC and Key Management Personnel. Of this, £73,172 (2022: £59,508) was for general funds and £106,621 (2022: £14,565) for restricted funds (building project).

Grants totalling £54,866 (2022: £5,405) were receivable for the year from the Friends of Holy Trinity, of which £21,736 (2022: £nil) was owed at the year end. The Vicar, Churchwardens, and Roger Clegg are trustees of this charity as well as being members of the PCC.

15. Connected Building Project

The PCC is pursuing a full demolition and rebuild of the church centre, with a physical connection to the church building. The estimated costs of this project are £2.4-2.6m, with £1.9m already held in the bank and a further £0.3m pledged. Further fundraising and exploration of grants will be undertaken to bridge the gap in funding. The PCC is hopeful that in 2024 the current church centre will close, and preparations will commence for the construction of a new building. The carrying value of the current church centre building will be eliminated from the accounts when it is demolished.

24