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2022-12-31-accounts

Financial Statements

of the

Parochial Church Council

of

Chipping Barnet

Registered Charity Number 1130743

for the year ended 31 December 2022

Chairman

Revd T D Chapman St Mark's Vicarage 56 Potters Road

Barnet EN5 5HY Hertfordshire

Treasurer

Mrs K L Baker 46 Normandy Avenue Barnet Hertfordshire EN5 2JA

Independent Examiner

Alf Del Basso FCCA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisors Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG

Parochial Church Council of Chipping Barnet Contents of the Financial Statements for the Year Ended 31 December 2022

Page
Trustees' Annual Report 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 21

Parochial Church Council of Chipping Barnet Trustees’ Annual Report for the Year Ended 31 December 2022 Registered Charity number 1130743

Reference and Administration Details

Principal Address:

The Parish Office, Church House 2 Wood Street Barnet, Hertfordshire EN5 4BW

Trustees:

The Trustees are as follows:

Chairman Revd Tristan Chapman Clergy Revd Samuel Rossiter-Peters Revd Nicholas Wheeler Reader Linda Sanders Churchwardens Sharon Butler Bob Burstow (Deputy Churchwarden) Stewart Cracknell Caroline Hay John Hay Roger Kepm Sue Scott Treasurer Lynn Baker Members Iris Auburn Nick Dean Wendy Dowding Laurie Little (LLW) Lorraine Maddon Geoffrey Nicholson Maureen Stevens Anna Watkins (Safeguarding Officer) Anna Wood Minutes Secretary Anthony Long Independent Examiner Alf Del Basso FCCA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisors Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG

Page 1

Parochial Church Council of Chipping Barnet Trustees’ Annual Report for the Year Ended 31 December 2022 (continued)

Introduction

The Parochial Church Council (PCC) is registered with the Charity Commission as Charity No. 1130743 and has prepared accounts in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective 1 January 2015).

Structure, Governance and Management

The Chipping Barnet Team Ministry is made up of four district churches which are St John the Baptist, St Mark, St Peter and St Stephen. The Parochial Church Council of Chipping Barnet’s Accounts include those of the four District Church Councils, the Bells Hill Fund, Bells Hill Burial Ground, the Copy Printer Account and the PCC Account. The PCC Account is an account for the day-to-day expenses of the Parochial Council and for receiving and paying the Parish Share to the Diocese of St Albans and staff salaries. Following the appointment of Fr Sam Rossiter-Peters, to St John the Baptist, in November 2021 there are now three clergy members. Fr Tristan Chapman has been appointed Rector and is the priest in charge of St Mark’s and St Stephen’s and Revd. Nicholas Wheeler who is a House for Duty priest at St Peter’s Church.

Safeguarding

The PCC has adopted the St Albans Diocesan Safeguarding Policy. All four churches have a Safeguarding Officer and each church has adopted Safeguarding policies for Children and Vulnerable Adults which are reviewed on an annual basis. DBS checks are carried out on all new volunteers working with children and vulnerable adults. Checks are done on existing volunteers every five years. By August 2022 all PCC members had completed specified training modules.

Committees

The Parochial Church Council members are elected at the Annual Parochial Church meeting having been nominated by the four District Church Councils at their Annual District meetings held prior to the Annual Parochial Meeting.

The Parochial Church Council meets four times each year occasionally preceded by a Standing Committee Meeting if there are any urgent matters to be dealt with. Attendance is usually good with most members attending at least three out of the four meetings.

Each of the District Church Councils holds their own meetings five to seven times a year to discuss and decide on matters relating to the individual churches. The four churches also hold their own Annual District Church Meetings prior to the Main Annual Parochial Church Meeting which must be held before the end of May.

Treasurers

The treasurers of the four churches are all volunteers. The PCC treasurer prepares the Bells Hill Fund Account, the consolidated Annual Account and Report of the Parochial Church Council. The Administrator prepares the Copy Printer Accounts and as part of his administrative duties. The Secretary to the Trustee of Bells Hill Burial Ground prepares the accounts for the Burial Ground as part of her duties.

Staff

The salaries of the three church vergers are paid by St John the Baptist DCC with a very generous grant from the Hadley Trust. The Administrator works on a part time basis in the Parish Office and his salary is funded by 50% St John the Baptist and 50% by the PCC. We appointed an Assistant Administrator whose salary is paid by drawing down the dividends from The Bells Hill Fund.

Page 2

Parochial Church Council of Chipping Barnet Trustees’ Annual Report for the Year Ended 31 December 2022 (continued)

Objectives and Activities

The trustees confirm that they have had regard for the guidance issued by the Charity Commission on the requirement to report on public benefit. In this respect, their objective is to advance the Christian religion in the parishes of the four Team churches and in the wider world for the benefit of the public.

Following the death of Queen Elizabeth in September 2022 arrangements were made to have a book of condolence in all four churches. These were signed by members of the congregations and many members of the public. Special services were held across the Team and St Marks had a Requiem Mass on 11th September 2022.

Services for Remembrance Sunday were held in the Team Churches, with laying of wreaths at the War Memorials. A Service was held at St John the Baptist where The Deputy Lord Lieutenant, the local MP and the Mayor of Barnet attended. The church was filled to capacity with local people paying their respects.

St John the Baptist is open every day from 9.15 am to 5 pm for visitors to pray, meditate or look around this historic Grade 11* listed building. It is also open to visitors every Saturday.

At St John the Baptist several schools have used the building for services during the year. Local schools visit the churches for their religious education. The church serves as the ‘sanctuary’ for a local Nursery School in case of an emergency in its own building.

St Stephen’s Mother and Others group, held once a week, is going very well.

Tangible Fixed Assets

13 Cedar Lawn Avenue, Barnet, was purchased in 1964 by St John the Baptist Church Council. This investment represents 100% and is held in the name of St Albans Diocesan Board of Finance.

94 Milton Avenue, Barnet was purchased in 1988 for £130,000.00 of which St John the Baptist DCC's investment is £87,750 and the PCC’s investment from the Bells Hill Fund is £42,250. These investments represent approximately 67.55% and 32.45% respectively and are held in the name of St Albans Diocesan Board of Finance.

The PCC investment in St. Peter’s vicarage, Arkley from the Bell’s Hill Fund is £15,000 which represented approximately 5.45% of the value of the property at the time it was built.

The Church halls at St Peter’s Church, Arkley and St Stephen’s Church, Bells Hill were introduced at their insurance value, which has been adopted as the value to be maintained in the accounts under the provisions of FRS102.

Investment policy

It is the PCC’s policy to invest funds, which are not immediately required, in income-producing funds which allow capital value to be protected.

Reserves Policy

It is PCC policy to try to maintain a balance on free (unrestricted) reserves which equates to at least six months’ unrestricted payments. It is held to smooth out fluctuations in cash flow to meet emergencies. The balance of the free reserves at the year end was £47,626 which comfortably exceeds the six months’ target, but which cannot be considered excessive.

Page 3

Parochial Church Council of Chipping Barnet Trustees’ Annual Report for the Year Ended 31 December 2022 (continued)

Financial Review

Income

This past year has been marginally better financially than 2021. The three churches with halls have seen the halls being hired out more but still not up to pre Covid lettings. There have been more fundraising events which have been well supported. The increase in the cost of living and particularly the increase in energy prices have put a great strain on finances, and in St Mark’s case the daily standing charge on their gas supply shot up from £2.11 to £9.82, unfortunately they were locked into a contract which meant they have to wait until the contract expires in 2023 before they can source a new supplier. St John the Baptist and St Peter’s have contracts for three and two years respectively which have kept their costs down.

Stewardship giving and donations totaled £90,021 for the four churches. Income Tax recovered on Gift Aid was £24,644. St John the Baptist, St Mark and St Peter have joined the Parish Giving Scheme for their stewardship although the congregation at St Peter is very reluctant to join the scheme. One of the main advantages of this scheme is that the Gift Aid is claimed and paid monthly meaning less work, for the Stewardship Recorder. The telecoms mast in the tower raised £11,550 at St John the Baptist.

St John the Baptist received a very generous grant of £16,000 from the Hadley Trust towards the salaries of the Church Vergers whose employment enables this church to be kept open every day during the week. A large grant of £29,410 was also received from the Ravenscroft Charity (Chancel Estate) which covers all utility bills, insurance, organ tuning and maintenance, cleaning and this year an extra amount of £3,828 was received for the replacement of the sump pump. St Mark’s church received grants totaling £3,098 and St. Peter’s Church received grants totaling £2,995 from the Ravenscroft Charity.

Income from the church halls of St Mark, St Peter and St Stephen increased by £25,358 to £58,531. Church House, adjacent to St John the Baptist is run by a separate charitable trust.

Rent from the two residential properties 13 Cedar Lawn Avenue owned by St John the Baptist and 94 Milton Avenue jointly owned by St John the Baptist and the Bells Hill Fund amounted to £32,447.

Fundraising took place at all four churches during the year. St Mark’s had two fetes one in the summer and one in December and one concert raising nearly £6,483 in total. St John the Baptist had a Big Picnic on the Church Green to celebrate the Queen’s Platinum Jubilee and this with other smaller fundraising events raised £2,400 after expenses. St Stephen’s fundraising events raised £1,652. St Peter’s had a few small fundraising events raising a total of £696.

Expenditure

The total Parish Share paid to the Diocese of St Albans was £142,101 (£133,165 in 2021). £4,748, was given to Charity, this figure includes the subscription to Churches Together for Chipping Barnet and money raised to send to Madagascar for charitable work. The other main items of expenditure are utility expenses and insurance for the four churches amounting to £37,765 and repairs and maintenance totaling £32,417.

Repairs and maintenance including insurance on the two residential properties amounted to £3,000. Expenditure on salaries including pension contributions and wages was £63,268. The running costs of the three halls amounted to £13,219. Honoraria to organists and choir amounted to £12,227.

The Finance Committee has met twice in the past year and continues in its support of the PCC.

Properties

The residential properties in Cedar Lawn Avenue and Milton Avenue continue to be let providing a valuable source of income.

Bells Hill Burial Ground

The London Borough of Barnet has responsibility for the upkeep of Burial Ground. The Secretary to the Trustee deals with all enquiries to do with everyday matters.

Page 4

Parochial Church Council of Chipping Barnet

Trustees’ Annual Report for the Year Ended 31 December 2022 (continued)

Risk Assessment

The PCC's risk assessment and management policy has again been reviewed during the year as have insurances. The systems of financial control are considered adequate and any short-term risks are taken into consideration in the preparation of the annual budget.

Risks are considered in terms of the wider environment in which the PCC operates. The financial climate, society and its attitudes, the natural environment and changes in the law, technology and knowledge will affect the types and impact of the risks which the PCC is exposed to.

Regular monitoring and evaluation of the PCC’s Risk Management Policy at senior level takes place on a regular basis to ensure that new risks are addressed as they arise. The Risk Register is presented to the PCC members on a regular basis and is updated as and when required. The staff team takes responsibility for implementation. There is communication with staff at all levels to ensure that individual and group responsibilities are understood and embedded into the culture of the PCC.

Our process ensures that:

  1. New risks are properly reported and evaluated;

  2. Risk aspects of significant new projects are considered as part of project appraisals;

  3. Any significant failures of control systems are properly reported and actioned;

  4. There is an adequate level of understanding of individual responsibilities for both implementation and monitoring of the controls systems;

  5. Any further actions required are identified;

  6. PCC members consider and review the annual process;

  7. PCC members are provided with relevant and timely interim reports.

Page 5

Parochial Church Council of Chipping Barnet Trustees’ Annual Report for the Year Ended 31 December 2022 (continued)

Trustees' Responsibility Statement

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to :

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

Signed Chairman …................................................ Dated …......................................... Revd T D Chapman

Page 6

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF CHIPPING BARNET

Independent examiner's report to the trustees of the Parochial Church Council of Chipping Barnet

I report to the charity trustees on my examination of the accounts of the Parochial Church Council of Chipping Barnet (the charity) for the year ended 31 December 2022.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 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 Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

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

Signed:

Alf Del Basso FCCA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisors

Broad House 1 The Broadway Old Hatfield Hertfordshire, AL9 5BG

Dated:

Page 7

Parochial Church Council of Chipping Barnet Statement of Financial Activities For the year ended 31 December 2022

Note
INCOME FROM
Incoming resources from donors
2(a)
Other voluntary incoming resources
2(b)
2(c)
Other ordinary incoming resources
2(d)
Income from investments
2(e)
TOTAL INCOMING RESOURCES
EXPENDITURE ON
Grants
3(a)
3(b)
Fund-raising and Publicity
3(c)
3(d)
TOTAL EXPENDITURE
NET INCOME/EXPENDITURE
Transfers between funds
Unrealised Gains/(Losses) on Investments
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
BALANCES BROUGHT FORWARD
Church management and
administration
NET INCOME/EXPENDITURE
before Investment Gains
BALANCES CARRIED FORWARD AT
31 DECEMBER 2022
Income from charitable and ancillary
trading
Activities directly relating to the work
of the Church		 Restricted Unrestricted Endowment Designated Total Funds
Total Funds
Funds
Funds
Funds
Funds
2022
2021
£
£
£
£
£
£
118,164
-
-
-
118,164
104,773
90,144
-
-
-
90,144
82,568
116,488
27,574
-
-
144,062
114,157
791
-
-
-
791
1,366
4,444
128
20,363
-
24,935
18,688
330,031
27,702
20,363
-
378,095
321,552
4,748
-
-
-
4,748
5,060
256,980
45,039
-
-
302,019
286,441
751
-
-
-
751
866
20,130
40,770
-
-
60,900
50,389
282,609
85,809
-
-
368,418
342,756
47,422
(58,108)
20,363
-
9,678
(21,204)
(40,172)
58,396
(18,224)
-
-
-
7,250
288
2,139
-
9,678
(21,204)
(16,789)
-
(81,752)
-
(98,542)
91,067
(9,539)
288
(79,613)
-

(88,864)
69,863
799,560
47,338
857,142
163,251
1,867,291
1,797,432
790,022
47,626
777,530
163,251
1,778,428
1,867,291

Page 8

Parochial Church Council of Chipping Barnet Funds of the Charity at 31 December 2022

Restricted Unrestricted Endowment Designated Total Funds Total Funds
Note Funds Funds Funds Funds 2022 2021
£ £ £ £ £ £
FIXED ASSETS
Tangible fixed assets 6 428,570 - - 163,251 591,821 584,828
Investments 7 118,140 - 612,731 - 730,871 833,411
546,710 - 612,731 163,251 1,322,693 1,418,239
CURRENT ASSETS
Debtors, prepayments &
accrued income 9 1,127 857 - - 1,984 1,926
Short-term deposits 65,754 5,779 164,798 - 236,332 238,890
Cash at bank & in hand 200,543 44,444 - - 244,987 234,161
267,425 51,080 164,798 - 483,303 474,977
LIABILITIES: amounts
falling due in one year 10 (24,113) (3,454) - - (27,567) (25,925)
NET CURRENT ASSETS 243,312 47,626 164,798 - 455,736 449,052
TOTAL NET ASSETS 790,022 47,626 777,530 163,251 1,778,428 1,867,291
CHARITY FUNDS
Restricted 790,022 - - - 790,022 799,560
Endowment - - 777,530 - 777,530 857,142
Unrestricted
General - 47,626 - - 47,626 47,338
Designated - - - 163,251 163,251 163,251
790,022
 47,626 777,530 163,251 1,778,428 1,867,291

The financial statements were approved by the Board of Trustees and approved for issue on …............. and signed on its behalf by:

Revd T D Chapman - Chairman

Mrs K L Baker - Treasurer

Page 9

Parochial Church Council of Chipping Barnet Notes to the Financial Statements For the year ended 31 December 2022

1. Accounting Policies

Basis of preparing the financial statements

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, together with Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) ('the SORP).

The accounts include all transactions, assets and liabilities for which the PCC is responsible by 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.

The accounts are prepared under the historical cost convention as modified for the revaluation of fixed assets and investments.

The Parochial Church Council of Chipping Barnet constitutes a public benefit entity as defined by FRS 102.

The reporting currency is GBP and all amounts have been rounded to the nearest £.

Legal status of the charity

The charity is unincorporated in the UK and is registered with the Charities Commission.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Ireland':

Income

Dividends and interest are accounted for when receivable.

Realised gains or losses are recognised only when investments are sold. Unrealised gains or losses are accounted for on the revaluation of investments at 31 December.

(d) Accruals and deferred income

Creditors shown in note 10 include auditor's fee of £3,120 (2021: 3,120) and deferred income of £16,000 (2021: £16,000). This represents a grant from the Hadley Trust towards the cost of the Church Verger (Keeper) received in advance for the subsequent calendar year.

(e) Legacies

Legacies are recognised when receipt is probable and the bequest is quantifiable.

Page 10

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2021

Expenditure

(a) Grants

Grants and donations are accounted for when paid over, or when the PCC becomes entitled to them.

The diocesan quota is accounted for when payable.

Financial Instruments

Apart from its investments, the charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.

Fixed Assets

Consecrated land and buildings and movable church furnishing

Consecrated and beneficed property is excluded from the accounts by the Charities Act 2011.

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 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.

Freehold Properties

The PCC maintain the properties in a continued state of sound repair so that the residual value of the property is at least equal to its book value. Having regard to this, it is of the opinion of the PCC that depreciation of the properties would not be material.

Other fixtures, fittings and office equipment

Equipment used for church purposes is depreciated on a straight-line basis over a period of 5 years. Individual items of equipment with a purchase price of £2,000 or less are written off when the asset is acquired. The pews aquired across all churches are depreciated over a period of 50 years. In previous years the digital organ has been depreciated over 50 years. Upon review of the depreciation policy applied, as per charities SORP, the Trustees adopted a new policy to depreciate the digital organ over 40 years. An adjustment in the current year has been made to align the depreciation charge with the new policy.

Fixed Asset Investment

Investments are shown in the Balance Sheet at quoted market value at the year end.

Stock

No value is attributed to stocks of Guide Books and similar material for resale. The costs are fully written off in the year of purchase.

Taxation

The charity is exempt from tax on its charitable activities.

Page 11

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

2. Income from
2(a) Incoming resources from donors
Planned giving: Covenants
Parish Giving Scheme
Income tax recoverable on Gift Aid
Parish Giving Scheme tax recovered
Collections (open plate) at all services
Special collections (Funerals, Hymn books)
Other voluntary donations
Daytime Church Opening Donations/Memorial
collection
SumUp Donations
2(b) Other voluntary incoming resources
Grants from the Chancel Estate
Grants from other sources including Winter Shelter
Legacies
VAT refund
Fundraising
2(c) Income from charitable & ancillary trading
Books, China, Guide Books, PC's, Flower Fund
Church hire including Antenna in the Tower
Catering and refreshments
Fees
Copy printer account
Church hall
Magazine
Rent 94 Milton Avenue & Cedar Lawn Avenue
Vacancy Account
Deanery for Administrator's salary		 St J Baptist
St Mark
St Peter
St Stephen
B.H.B.G
PCC
Copy Printer
Bells Hill
Total
Total
Restricted Restricted Restricted Restricted Restricted Unrestricted Unrestricted Endowment Designated
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Fund
Funds
2022
2021
16,506
10,171
9,880
4,825
-
-
-
-
-
41,382
40,663
19,745
-
-
-
-
-
-
-
-
19,745
18,137
6,547
3,733
7,792
1,789
-
-
-
-
-
19,861
16,209
4,783
-
-
-
-
-
-
-
-
4,783
4,484
8,277
5,040
1,661
2,551
-
-
-
-
-
17,529
13,731
3,499
-
-
-
-
-
-
-
-
3,499
3,730
3,555
2,465
-
1,940
-
-
-
-
-
7,960
6,380
1,532
-
-
-
-
-
-
-
-
1,532
633
1,873
-

-
-
-
-
-
-
-
1,873
806
66,317
21,409
19,333
11,105
-
-
-
-
-
118,164
104,773
29,410
-
2,995
-
-
-
-
-
-
32,405
28,367
16,000
4,910
18,940
1,957
-
-
-
-
-
41,807
46,000
1,500
-
-
-
-
-
-
-
-
1,500
-
-
2,443
-
-
-
-
-
-
-
2,443
2,072
2,863
6,778
696
1,652
-
-
-
-
-
11,989
6,129
49,773
14,131
22,631
3,609
-
-
-
-
-
90,144
82,568
1,234
-
-
-

-
-
-
-
-
1,234
530
19,015
-
-
-
-
-
-
-
-
19,015
14,689
336
-
-
-
-
-
-
-
-
336
238
10,915
2,342
314
2,407
3,857
-
-
-
-
19,835
22,315
-
-
-
-
-
-
9,368
-
-
9,368
8,241
-
23,111
10,660
24,760
-
-
-
-
-
58,531
33,173
155
-
1,372
-
-
-
-
-
-
1,527
147
16,010
-
-
-
-
16,437
-
-
-
32,447
33,090
-
-
-
-
-
-
-
-
-

-
661
-
-
-
-
-
1,769
-
-
-
1,769
1,073
47,665
25,453
12,346
27,167
3,857
18,206
9,368
-
-
144,062
114,157

Page 12

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

2. Income from
2(d) Other ordinary incoming resources
Miscellaneous
Miscellaneous Subsidiary Accounts
2(e) Income from investments
Dividends and interest
Investment interest
TOTAL INCOME		 St J Baptist
St Mark
St Peter
St Stephen
B.H.B.G
PCC
Copy Printer
Bells Hill
Total
Total
Restricted Restricted Restricted Restricted Restricted Unrestricted Unrestricted Endowment Designated
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Fund
Funds
2022
2021
-
221
-
-
500
-
-
-
-
721
1,226
70
-
-
-
-
-
-
-
-
70
140
70
221
-
-
500
-
-
-
-
791
1,366
633
1,862
12
60
1,878
8
45
2,139
-
6,637
3,698
-
-
-
-
-
75
-
18,224
-
18,299
14,990
633
1,862
12
60
1,878
83
45
20,363
-
24,935
18,688
164,458
63,075
54,322
41,941
6,235
18,289
9,413
20,363
-
378,095
321,552

Page 13

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

3. Expenditure on St J Baptist St Mark St Peter St Stephen B.H.B.G PCC Copy Printer Bells Hill Total Total
Restricted Restricted Restricted Restricted Restricted Unrestricted Unrestricted Endowment Designated Funds Funds
Funds Funds Funds Funds Funds Funds Funds Fund Funds 2022 2021
3(a) Grants
Missionary and charitable giving 60 1,007 - 407 - - - - - 1,474 3,440
Other charitable giving including Churches Together - 165 - - - - - - - 165 715
Miscellaneous collections to Charities 3,109 - - - - - - - - 3,109 905
3,169 1,172 - 407 - - - - - 4,748 5,060
3(b) Activities directly related to the work of the church
Parish Share 74,038 30,000 13,000 16,000 - 9,063 - - - 142,101 133,165
Clergy & reader's expenses 1,475 835 1,495 861 - - - - - 4,666 2,955
Upkeep of 13 C L Ave, 94 Milton Ave, Vicarages 1,308 - - - - 1,692 - - - 3,000 7,262
Church running expenses 15,786 5,454 2,862 2,584 - - - - - 26,686 18,410
Cleaning 2,972 - - -
 - - - - - 2,972 2,416
Church maintenance & repairs 10,416 11,092 2,675 648 - - - - - 24,831 43,359
Organ/piano tuning & repairs 7,070 - 180 336 - - - - - 7,586 2,106
Insurance 5,784 2,671 1,863 761 - - - - - 11,079 11,551
Church Vergers' salaries - - - - - 20,544 - - - 20,544 17,485
Hall Managers and Cleaners - - - - - 13,740 - - - 13,740 7,597
Contributions Church house/Church hall running costs - 2,370 1,107 9,742 - - - - - 13,219 12,997
Church Hall work - 2,335 - - - - - - - 2,335 -
Junior Church and Young People - 24 - - - - - - -
 24 113
Books, Library, Postcards, China, Flowers 205 - - - - - - - - 205 416
Magazine 135 - 2,322 - - - - - - 2,457 2,311
Furniture, Carpets, Flags, Kitchen Equipment 1,934 - - - - - - - - 1,934 -
Other direct expenditure: DBF Fees, verger fees 5,606 670 - 886 253 - - - - 7,415 8,022
Upkeep of services 2,348 2,797 - 2,206 - - - - - 7,351 4,486
Upkeep of churchyard 190 2,721 - - 5,938 - - - - 8,849 9,232
Vacancy Account - - - - - - - - - 1,932
Depreciation - 1,025 - - - - - - - 1,025 625
129,267 61,994 25,504
 34,024 6,191 45,039 - - - 302,019 286,441
3(c) Fund-raising and Publicity
Cost of fund-raising 456 295 - - - - - - - 751 866
456 295 - - - - - - - 751 866

Page 14

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

3. Expenditure on
3(d) Church management and administration
Administrator's salary
Administration expenses
Fee payable for Audit
Professional fees
Bank charges
Honoraria to organists and choir
Gifts, Refreshments, Lunch Club etc.
Miscellaneous wedding refunds etc
TOTAL EXPENDITURE
Net Income/(Expenditure) before transfers
Transfer between funds:-
Grant Bells Hill Fund
St John the Baptist Church Vergers salaries
St Mark's salaries
Administrator's salary
St Stephen's salaries Hall Manager
Total transfers
Net Income/(Expenditure) for the Year
Gains/Losses on Investments
Net Movement in Funds		 St J Baptist
St Mark
St Peter
St Stephen
B.H.B.G
PCC
Copy Printer
Bells Hill
Total
Total
Restricted Restricted Restricted Restricted Restricted Unrestricted Unrestricted Endowment Designated
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Funds
Fund
Funds
2022
2021
-
-
-
-
-
28,983
-
-
-
28,983
19,756
3,197
4
1,040
514
-
1,221
7,333
-
-
13,308
13,846
-
-
-
-
-
3,120
-
-
-
3,120
3,120
1,427
-
-
-
-
-
-
-
-
1,427
2,280
523
163
-
10
-
113
-
-
-
809
484
9,092
3,135
-
-
-
-
-
-
-
12,227
9,655
304
154
-
-
-
-
-
-
-
458
948
390
177
-
-
-
-
-
-
-
567
300
14,933
3,633
1,040
524
-

33,437
7,333
-
-
60,900
50,389
147,825
67,094
26,544
34,955
6,191
78,477
7,333
-
-
368,418
342,756
16,633
(4,019)
27,778
6,986
44
(60,188)
2,080
20,363
-
9,678
(21,204)
-
-
-
-
-
18,224
-
(18,224)
-
-
-
(20,167)
-
-
-
-
20,167
-
-
-
-
-
-
(10,167)
-
-
-
10,167
-
-
-
-
(6,365)
-
-
-
-
6,365
-
-
-
-
-
-
-
-
(3,473)
-
3,473
-
-
-
-
-
(26,532)
(10,167)
-
(3,473)
-
58,396
-
(18,224)
-
-
-
(9,899)
(14,186)
27,778
3,513
44
(1,792)
2,080
2,139
-
9,678
(21,204)
(1,055)
(9,045)
-

-
(6,689)
-
-
(81,752)
-
(98,542)
91,067
(10,954)
(23,231)
27,778
3,513
(6,645)
(1,792)
2,080
(79,613)
-
(88,864)
69,863

Page 15

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

4. Staff and other Costs

Staff costs paid during the year were as follows:

Wages and Salaries
Social Security costs		 2022
£
57,138
6,130
63,268		 2021
£
38,245
3,803
42,048

No employee was paid at a rate of £60,000 p.a. or more. The average number of employees during the year was 8 (2021 - 5). No member of the PCC has received any remuneration or reimbursement of expenses.

5. Support Costs

Independent Examiner's fees 2022
£
3,120		 2021
£
3,120

6. Fixed Assets

Freehold Property
FF&E (pews)
At Cost or Valuation
At 1st January
556,001
31,152
Additions
8,018
At 31st December 2022
556,001
39,170
Depreciation
Balance b/fwd
-
2,325
Charge for the year
-
1,025
-
3,350
Net Book Value
At 31st December 2022
556,001
35,820
At 31st December 2021
556,001
28,827		 TOTAL
587,153
8,018
595,171
2,325
1,025
3,350
591,821
584,828

All freehold houses are stated at cost except for 94 Milton Avenue, Barnet for which a provision for diminution of value of £1,070 was made in 1997. All houses are well maintained and in view of this and the strength of the property market in the area, no further impairment provision has been made in the accounts. The Church Halls were valued at £206,000 and £100,000 for St Stephen’s and St Peter’s respectively when introduced to the accounts in accordance with the Church Accounting Regulations in 1997. No depreciation has been provided in these halls, which continue in use. No value has been attributed to St Mark’s church hall since it is integral to the church building.

Page 16

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

7. Fixed Asset Investments

Market value
At 1st January 2022
Additions
Disposals
Revaluations
At 31st December 2022
Net Book Value
At 31st December 2022
At 31st December 2021		 Restricted
Funds
£
138,928
7,991
(11,991)
(16,788)
118,140
118,140
138,928		 Endowment
Funds
£
694,483
-
-
(81,752)
612,731
612,731
694,483		 Totals
£
833,411
7,991
(11,991)
(98,540)
730,871
730,871
833,411

Investments at the year-end have been revalued in accordance with the Charities Statement of Recommended Practice.

2022
£
CBF Investment Fund
709,159
CBF Fixed Interest Securities Fund
21,712
730,871
8. Material Items on SOFA
The net gain/(loss) on investments and short term deposits are noted as below:
2022
£
Unrealised gains on fair value changes of investments
(98,542)
Realised gains on disposal of investments
-
Net gain on investment
(98,542)
9. Debtors
2022
£
Debtors
1,197
Prepayments and accrued income
787
1,984
10. Creditors
2022
£
Accruals and deferred income
23,420
Creditors for goods and services
4,148
27,568		 2021
£
808,307
25,104
833,411
2021
£
91,067
-
91,067
2021
£
1,141
785
1,926
2021
£
19,120
6,805
25,925

Page 17

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

11. Movement in Funds

At
01.01.2022
£
Unrestricted funds
PCC
19,385
Copy Printer
27,953
Restricted funds
St John the Baptist
141,233
St Marks
139,456
St Peters
135,179
St Stephens
263,720
Bells Hill Burial Ground
119,973
Endowment funds
Bells Hill Endowment Fund
857,143
Designated funds
Designated funds
163,251
Total Funds
1,867,291
Net movement in funds, included in the above are a
Incoming
resources
£
Unrestricted funds
PCC
18,289
Copy Printer
9,413
Restricted funds
St John the Baptist
164,458
St Marks
63,075
St Peters
54,322
St Stephens
41,941
Bells Hill Burial Ground
6,235
Endowment funds
Bells Hill Endowment Fund
20,363
Designated funds
Designated funds
-
Total Funds
378,095		 Net
movements
in funds
£
(60,188)
2,080
15,578
(13,064)
27,778
6,986
(6,645)
(61,389)
-
(88,863)
s follows:
Resources
expensed
£
(78,477)
(7,333)
(147,825)
(67,094)
(26,544)
(34,955)
(6,191)
-
-
(368,418)		 Transfers
between
funds
£
58,396
-
(26,532)
(10,167)
-
(3,473)
-
(18,224)
-
-
Gains and
losses
£
-
-
(1,055)
(9,045)
-
-
(6,689)
(81,752)
-
(98,541)		 At
31.12.2022
£
17,593
30,033
130,281
116,224
162,957
267,232
113,328
777,530
163,251
1,778,428
Movement
in funds
£
(60,188)
2,080
15,578
(13,064)
27,778
6,986
(6,645)
(61,389)
-
(88,863)

Page 18

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

11. Movement in Funds - continued

Comparatives for the movement in funds

Unrestricted funds
PCC
Copy Printer
Restricted funds
St John the Baptist
St Marks
St Peters
St Stephens
Bells Hill Burial Ground
Endowment funds
Bells Hill Endowment Fund
Designated funds
Designated funds
Total Funds		 At
01.01.2021
£
20,202
28,480
158,940
150,416
148,814
254,661
109,431
763,237
163,251
1,797,432		 Net
movements
in funds
£
(32,536)
(525)
6,208
(6,153)
(13,635)
9,057
10,542
96,906
-
69,863		 Transfers
between
funds
£
31,722
-
(23,915)
(4,807)
-
-
-
(3,000)
-
-		 At
31.12.2021
£
19,385
27,953
141,233
139,456
135,179
263,720
119,973
857,143
163,251
1,867,291

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
PCC
Copy Printer
Restricted funds
St John the Baptist
St Marks
St Peters
St Stephens
Bells Hill Burial Ground
Endowment funds
Bells Hill Endowment Fund
Designated funds
Designated funds
Total Funds		 Incoming
resources
£
18,803
8,243
141,245
59,860
27,255
40,690
10,466
14,990
-
321,552		 Resources
expensed
£
(51,340)
(8,768)
(135,134)
(67,857)
(40,890)
(31,633)
(7,134)
-
-
(342,756)		 Gains and
losses
£
-
-
97
1,844
-
-
7,210
81,916
-
91,067		 Movement
in funds
£
(32,536)
(525)
6,208
(6,153)
(13,635)
9,057
10,542
96,906
-
69,863

Page 19

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

11. Movement in Funds - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
PCC
Copy Printer
Restricted funds
St John the Baptist
St Marks
St Peters
St Stephens
Bells Hill Burial Ground
Endowment funds
Bells Hill Endowment Fund
Designated funds
Designated funds
Total Funds		 At
01.01.2021
£
20,202
28,480
158,940
150,416
148,814
254,661
109,431
763,237
163,251
1,797,432		 Net
movements
in funds
£
(92,724)
1,555
21,786
(19,217)
14,143
16,043
3,897
35,517
-
(18,999)		 Transfers
between
funds
£
90,118
-
(50,447)
(14,974)
-
(3,473)
-
(21,224)
-
-		 At
31.12.2022
£
17,593
30,033
130,281
116,224
162,957
267,232
113,328
777,530
163,251
1,778,428

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
PCC
Copy Printer
Restricted funds
St John the Baptist
St Marks
St Peters
St Stephens
Bells Hill Burial Ground
Endowment funds
Bells Hill Endowment Fund
Designated funds
Designated funds
Total Funds		 Incoming
resources
£
37,092
17,656
305,703
122,935
81,577
82,631
16,701
35,353
-
699,647		 Resources
expensed
£
(129,817)
(16,101)
(282,959)
(134,951)
(67,434)
(66,588)
(13,325)
-
-
(711,174)		 Gains and
losses
£
-
-
(958)
(7,201)
-
-
521
164
-
(7,474)		 Movement
in funds
£
(92,725)
1,555
21,786
(19,217)
14,143
16,043
3,897
35,517
-
(18,999)

Page 20

Parochial Church Council of Chipping Barnet Notes to the Financial Statements (continued) For the year ended 31 December 2022

12. Funds

Restricted funds included within the assets of the Parochial Church Council consist of funds for restricted purposes and funds restricted for the use by particular churches within the team. Transfers from the restricted funds to the unrestricted fund represented contributions to the costs of the Church Vergers and PCC Administrator.

Endowment funds consist of Grave Trusts relating to Bells Hill Burial Ground and the Bells Hill Fund.

Unrestricted funds include certain funds, which have been designated by individual churches or the Parochial Church Council for particular purposes.

13. Bells Hill Fund

This fund was established in 1987 following the sale of the unused portion of Bells Hill Burial Ground. It is held by the Diocesan Board of Finance on behalf of the PCC, which is responsible for its administration and keeps the division of funds between Investment and Deposit Accounts under review.

14. Statement of Funds

Fund movements comprising income and expenditure for the charity’s individual funds are shown in notes 2 and 3 to the financial statements. The analysis of net assets between funds is shown in the balance sheet.

15. Funds Transfer

Funds for the Parish Share are transferred from each of the four churches to the PCC account in order to be paid to the Diocese of St Albans. The PCC is the legal body and it is felt that this is the easiest way to manage these funds. Similarly, payments for the Church Vergers’ and the Administrator’s salaries are transferred from St John the Baptist Account so that income tax and NICs can be paid to the HMRC and pension contributions paid to our pensions provider.

16. Grants

An amount totalling £1,639 (2021 - £4,155) has been given away to various charities by St John the Baptist, St Mark, St Peter and St Stephen. This includes subscriptions to Churches Together for Chipping Barnet, money raised for charities through fundraising events and collections at funerals.

17. Contingent Liabilities

There were no contingent liabilities at the beginning or the end of the year.

18. Related Party Transaction

During the year the Honorary Treasurer received remuneration £780 (2021 - £950) as Secretary to the Trustee of Bells Hill Burial Ground.

Page 21