**Holy Trinity Church, Lyonsdown**
**Trustees’ Report and Financial Statements**
**for the year ending 31[st] December 2024**
Holy Trinity Church, Lyonsdown
## Financial Report for 2024 **Trustees’ Report Objectives and Activities**
Holy Trinity Church’s objectives are:
- To provide regular public worship open to all
- To provide services to the community
- To be a place of healing, restoration and belonging, and a safe place for anyone to come into, reflecting Jesus’s love in all we do
- To provide pastoral support to our congregation
- To work closely with our sister church St James’s, and to continue to develop links with the other local churches, particularly the nearby Catholic and URC churches, as well as the Chipping Barnet Foodbank (situated at the Catholic church)
## **Achievements and Performance**
The 4pm Sunday service has continued and has a more established congregation that consistently has over 20 people, including children. We had our first Easter sunrise service. Rev Laura and Rev Jenny were part of the service at New Barnet War Memorial on Remembrance Sunday. At Christmas, we ran an Advent retreat, and had a Nativity Carol Service and Midnight Communion. The fortnightly Life Group Bible Study is appreciated as a place where we can grow as disciples, and more members are now helping to lead sessions. We also had three summer Bible studies on prayer, held jointly with St James’s.
The summer was busy with a Community Fun Day and three Community Café afternoon teas. The Fun Days continue to attract many from the community, with a bouncy castle, games, burgers and other attractions. We have been building connections with our local dog-walking community that meets at Greenhill Park, and held a Christmas and summer doggy tea party.
Our regular activities are Who let the Dads Out, Prayers at the Cross in the prayer garden and the Art and Craft Community Group. Who let the Dads Out is an opportunity for dads (or any father-figures) and their children to enjoy time together and a bacon sandwich. The art group included some tutorials and a gallery visit.
We meet with Twinkle Stars Nursery in the church once a week to read a Bible story, sing and pray with the children as they start their day. We do a short service once a month for the residents at the local Cedars Care Centre, and a carol service at Christmas (jointly with St John’s URC).
We have positive links with the other churches in the area, and we are thinking how we can work together better. Holy Trinity hosted the deanery Walsingham Day for the second time, as well as the ecumenical World Day of prayer. There were regular ministers’ breakfasts with other clergy in our area of all denominations.
It is good to have Chipping Barnet Food Bank opposite (based at Mary Immaculate and St Peter Catholic Church). We now have a donation point for the Foodbank at Holy Trinity. Holy Trinity is now a ‘Fairtrade Church’.
The garden at Holy Trinity is a special place, and we are continuing to look to develop it further as a place of fun, and a place of refreshment and rest. Our new bug hotel in the garden provides shelter for insects and other small creatures, such as ladybirds, woodlice and spiders.
## **Financial Review**
**Summary:** After significant changes and challenges in 2021, the years 2022 to 2024 were times of development. Income stayed pretty similar between 2022 and 2024. At the end of 2024, Holy Trinity had a deficit of £7,000 (which was lower than the previous year’s deficit).
**Income:** Our income in 2024 was £81,175, of which 84% was rental income from the Twinkle Stars Nursery and room hire in Lyonsdown Hall. Income from donations almost doubled, thanks to hard work in looking for grants, and to the generous giving of the congregation.
The chart gives a breakdown of our 2024 income.
**----- Start of picture text -----**
Donations and
Interest and
other income, grants,
£10,904
£1,834
Lyonsdown
Hall rental Nursery rental
income, income,
£48,054 £20,383
**----- End of picture text -----**
2
Financial Report for 2024
Holy Trinity Church, Lyonsdown
**Expenditure:** Our expenditure in 2024 was £88,273, which is reasonably similar to last year. The main areas of expenditure were parish share, maintenance of Lyonsdown Hall, staff salaries (whose work largely related to Lyonsdown Hall) and fabric costs.
**Cash:** We aim to maintain a healthy cash balance throughout the year to make sure we are able to deal with any unexpected dips in income. We were able to maintain healthy cash reserves during 2024.
**Reserves Policy:** The free reserves are the total funds available to the PCC, excluding funds tied up in Lyonsdown Hall and funds designated to be used on specific items.
## It is the PCC’s policy to:
- keep three months' running costs (approximately £30,000) in free reserves to cover essential expenditure in the event of loss of income
- save up funds in a ‘major repairs fund’ to cover unexpected fabric repairs and other large projects
At 31 December 2024 our free reserves stood at £28,356. This is consistent with our reserves policy. We have also designated £15,000 to the major repairs fund.
## **Structure, Governance and Management**
Holy Trinity’s Parochial Church Council (PCC) is a corporate body established by the Church of England and operating under the Parochial Church Council Powers Measure. It is registered as a charity in England as “The parochial church council of the ecclesiastical parish of Holy Trinity, Lyonsdown”, also known as “Holy Trinity PCC”. Its registered charity number is 1131088. The PCC have regard to the Charity Commission’s guidance on public benefit.
Individuals become members of the PCC (in accordance with the Church Representation Rules):
- by virtue of their office within the church (vicar and churchwardens)
- by membership of certain other ecclesiastical bodies (e.g. Barnet Deanery Synod)
- by direct election by members of the church (those on the Church Electoral Roll)
- by co-option at the discretion of the PCC.
On appointment or election to the PCC, all members automatically become trustees of the charity. As well as constituting the charity trustees, the PCC is the overall management committee of the church.
## **Administrative Details**
The following served as trustees (and as members of the PCC) during the period from the start of the reporting period (1 Jan 2024) to the date of the 2025 Annual Parochial Church Meeting (11 May 2025):
Rev Canon Laura Hewitt Priest-in-Charge and Chair until 19/3/25 Rev Jennifer Robinson Curate Robert Bayman Church Warden and PCC Secretary until 19/5/24; Electoral Roll Officer Stephen Craggs Lay Vice-Chair and Church Warden until 19/5/24 Sonia Lucas Church Warden from 19/5/24 Martine Whitaker Deanery and Diocesan Synod Rep from 19/5/24 Rebecca Craggs until 19/5/24 Fiona Jones Alison McCrory until 19/5/24 Leslie McCrory joined PCC 19/5/24 Paul Robinson joined PCC 19/5/24 Alison Slade Chris Willer
The PCC appointed Zoë Jones as Treasurer in October 2022, and Jeremy and Helen Alford as Safeguarding Officers in autumn 2023. They are not Trustees.
**Registered Office** : 18 Lyonsdown Road, New Barnet, Hertfordshire EN5 1JE
**Bankers** : Barclays Bank, 1250 High Road, Whetstone N20 0PB (Holy Trinity Church funds) & National Westminster Bank, 20 High Street, Barnet EN5 5RU (Lyonsdown Hall funds) **Independent Examiner** : Ruth Savage, Savage Nine Ltd
3
Holy Trinity Church, Lyonsdown
Financial Report for 2024
|**STATEMENT OF FINANCIAL ACTIVITIES**
2024
Restricted
2024
Unrestricted
note
£
£
**INCOME**
Donations and grants
2,136
8,768
Charitable Activities
-
849
Trading Activities
-
68,437
Other Income
-
985
**Total INCOME**
2,136
79,039
**EXPENDITURE**
Charitable Giving
436
-
Service Costs
-
968
Church Ministry
-
29,732
Employee Costs
2,7
-
22,525
Fabric
-
11,151
Fundraising Costs
-
19,035
Administration
-
4,426
**Total EXPENDITURE**
436
87,837
**NET RESOURCES**
1,700
(8,798)
**TRANSFERS BETWEEN FUNDS**
-
-
**NET MOVEMENT IN FUNDS**
1,700
(8,798)
**BALANCES BROUGHT FORWARD**
-
2,017,304
**BALANCES CARRIED FORWARD**
1,700
2,008,506|2024 Total
£
10,904
849
68,437
985
81,175
436
968
29,732
22,525
11,151
19,035
4,426
88,273
(7,098)
-
(7,098)
2,017,304
2,010,206|2023
£
5,641
1,073
74,868
602|
|---|---|---|
|||82,184|
|||90
1,673
30,253
21,133
14,301
20,716
4,330|
|||92,496|
|||(10,312)
-|
|||(10,312)
2,027,616|
|||2,017,304|
4
Holy Trinity Church, Lyonsdown
Financial Report for 2024
## **BALANCE SHEET**
|**ASSETS**
note
Fixed Assets
Lyonsdown Hall building
**_Totals_**
Current Assets
Cash at bank
Cash in hand
Credit card
Trade debtors
Other debtors & prepayments
Less provision for doubtful debts
**_Totals_**
Less Creditors
Deferred income
Creditor - St James's Church
Other creditors due within 1 year
Creditor due after 1 year - Twinkle Stars nursery
10
**_Totals_**
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**
note
Restricted Funds
4
Restricted reserves
**_Totals_**
Designated Funds
5
Major repairs fund
Fixed asset reserves
Parish Share fund
**_Totals_**
Other Funds
5
Free reserves
**_Totals_**
**FUNDS TOTALS**|2024
£
1,965,150
1,965,150
54,238
676
(296)
1,651
2,243
-
58,512
(4,325)
(3,239)
(3,638)
(2,254)
(13,456)
45,056
2,010,206
2024
£
1,700
1,700
15,000
1,965,150
-
1,980,150
28,356
28,356
2,010,206|2023
£
1,965,150|
|---|---|---|
|||1,965,150|
|||51,659
297
(388)
19,016
2,531
(188)|
|||72,927|
|||(9,600)
(4,238)
(4,790)
(2,145)|
|||(20,773)|
|||52,154|
|||2,017,304|
|||2023
£
-|
|||-|
|||10,000
1,965,150
10,000|
|||1,985,150|
|||32,154|
|||32,154|
|||2,017,304|
5
|Financial Report for 2024|||Holy Trinity|Church, Lyonsdown|
|---|---|---|---|---|
|**INCOME**||2024||2023|
||note|£||£|
|Donations and grants|||||
|General giving||7,177||4,225|
|Tax recovered on general giving||1,592||826|
|Donations to special collections||435||90|
|Restricted donations||500||-|
|Grant income||1,200||500|
|**_Totals_**|||10,904|5,641|
|Charitable Activities|||||
|Event income||436||923|
|Wedding & funeral fees||413||150|
|**_Totals_**|||849|1,073|
|Trading Activities|||||
|Rental income - nursery||20,383||19,630|
|Rental income - Lyonsdown Hall||48,054||55,088|
|Church room hire||-||150|
|**_Totals_**|||68,437|74,868|
|Other Income|||||
|Interest income||960||602|
|Other income||25||-|
|**_Totals_**|||985|602|
|**INCOME TOTALS**|||81,175|82,184|
6
|Financial Report for 2024|||Holy Trinity Church, Lyonsdown|Holy Trinity Church, Lyonsdown|
|---|---|---|---|---|
|**EXPENDITURE**||2024||2023|
||note|£||£|
|Charitable Giving|||||
|Special collections||436||90|
|**_Totals_**|||436|90|
|Service Costs|||||
|Service costs||500||578|
|Refreshments||147||204|
|Audio equipment & music||321||891|
|**_Totals_**|||968|1,673|
|Church Ministry|||||
|Parish share||28,889||28,889|
|Youth and children's work||6||32|
|Outreach event costs||452||558|
|Discipleship groups||12||-|
|Community event costs||-||95|
|Clergy expenses||48||360|
|Gifts and hospitality||150||7|
|Deanery events||32||-|
|Leadership training||121||65|
|Retreat costs||22||247|
|**_Totals_**|||29,732|30,253|
|Employee Costs|2,7||||
|Salaries||22,178||20,773|
|Pensions and social security||347||360|
|**_Totals_**|||22,525|21,133|
|Fabric|||||
|Repairs & maintenance & cleaning||3,489||8,627|
|Church utilities||5,702||3,800|
|Church insurance||1,960||1,874|
|**_Totals_**|||11,151|14,301|
|Fundraising Costs|||||
|Nursery repairs and maintenance||480||-|
|Hall maintenance||3,349||3,583|
|Hall cleaning & gardening||5,822||6,165|
|Hall utilities||4,630||5,831|
|Hall insurance||3,616||3,355|
|Hall office costs||1,138||1,782|
|**_Totals_**|||19,035|20,716|
|Administration|||||
|IT costs||450||454|
|Publicity||-||295|
|Independent examination & bookkeeping costs||2,847||2,217|
|Other office costs||655||934|
|Bank fees etc||474||430|
|**_Totals_**|||4,426|4,330|
|**EXPENDITURE TOTALS**|||88,273|92,496|
|**SURPLUS / (DEFICIT)**|||(7,098)|(10,312)|
7
Holy Trinity Church, Lyonsdown
Financial Report for 2024
## **Notes to the Accounts**
## **1. Accounting Policies**
## a) Basis of Accounting
The accounts have been prepared under the historical cost convention, and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014; the Financial reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102); the Charities Act 2011; and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity constitutes a public benefit entity as defined by FRS102.
## b) Recognition of income
Income is included in the Statement of Financial Activities when the charity becomes entitled to the resources, it is more likely than not that the charity will receive the resources and the monetary value can be measured with sufficient reliability.
## c) Incoming resources
Donations and grants are included in the accounts when the general income criteria are met. When donors specify they are to be used for a future accounting period they are treated as deferred income. Contributions, fees and tax recoverable from the Inland Revenue under the Gift Aid scheme are recognised on an accruals basis when there is a valid declaration from the donor. Collections are recognised when received by or on behalf of the PCC. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its entitlement, that receipt is probable and the amount due can be measured reliably.
Church members act as general volunteers. As it is impractical for their contribution to be measured reliably for accounting purposes, their voluntary work is not credited in the financial statements.
## _Income from charitable activities_
All income from charitable activities is accounted for gross.
## _Income from other trading activities_
Rental income from the letting of church premises is recognised at the time to which the rental relates.
## _Investment income_
Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
## d) Resources Expended
Expenditure is accounted for on an accruals basis, inclusive of VAT, which cannot be recovered. Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
## e) Capitalisation and Depreciation
All fixed assets are initially recorded at cost.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Property – the property is not depreciated as the PCC believes the current market value of the property is around or higher than the valuation in the accounts.
Consecrated and benefited property are excluded from the financial statements by s.96(2)(a) of the Charities Act 1993.
Movable church furnishings held by the vicar and churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church’s inventory. For inalienable property acquired prior to 2001 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 1 January 2001 have been capitalised and depreciated on a straight-line basis over three years.
All expenditure incurred during the year on consecrated or benefited buildings, individual items not exceeding £1,000 in value, or on the repair of movable church furnishings acquired before 1 January 2001 is written off.
## f) Stocks
Stocks held for resale are measured at the lower of cost or net realisable value.
## g) Pensions
Holy Trinity’s PCC contributes to a defined contribution pension scheme on behalf of employees, the cost of which is disclosed in the detailed income and expenditure account.
8
Holy Trinity Church, Lyonsdown
Financial Report for 2024
h) Funds accounting
Funds held by the charity are:
- Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- Unrestricted designated funds – these are funds which the PCC has designated for specific purposes, as set out in note 5.
- Restricted funds – these are funds which can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The nature and purpose of each fund is explained further in the notes to the accounts.
## i) Current assets
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.
- j) Creditors and provisions
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the PCC anticipates it will pay to settle the debt.
- k) Statement of cash flows
The financial statements do not include a statement of cash flows as the PCC constitutes a small charity under the SORP as amended by Update Bulletin 1.
## **2. Staff Costs**
- a) Employment costs are as specified in the detailed income and expenditure.
b) 4 people were employed by the charity during the year, of which all were part-time (2023: 3 people, of which all were part-time).
- c) No employee earned more than £60,000 during the year (2023: nil).
- d) Eligible employees are enrolled in a defined contribution scheme managed by the National Employment Savings Trust (NEST). Auto-enrolled member contributions are at 3%, less tax relief, and employer contributions are at 5%.
There are no employer charges, while member charges comprise an annual management charge of 0.3 per cent on the total value of a member’s fund each year plus a contribution charge of 1.8 per cent on each new contribution.
- e) In addition to paid employees, the Priest in Charge and the Curate, Holy Trinity has several volunteers who are part of the congregation or extended church family who take on a variety of different roles from official roles such as trustees and officers of the charity to more informal roles such as helping with tech, organising events, etc.
## **3. Fixed Assets**
The only fixed assets are a property valued at £1,965,150 and Lyonsdown Hall equipment with a cost of £31,914. The property is Lyonsdown Hall, 3 Lyonsdown Road, New Barnet. It is used in part to raise funds for the PCC, but is also available to carry out the PCC's charitable purposes. No depreciation has been applied to this property because the PCC believes the current market value of the property is equal to or higher than the current valuation. This current valuation was made on 31 December 2020 based on its insurance valuation. The Church building and Church Rooms are not included as they are consecrated property. The Hall equipment had been fully depreciated by 1 January 2021 so the net book value of this equipment is £nil and no additions were made to this equipment in 2021 – 2024. There has been no change in the fixed assets since 2023.
## **4. Restricted Funds**
|**Restricted Funds**||||||
|---|---|---|---|---|---|
|Special Collections
Other|**1 Jan 2024**
£
-
-
**-**|**Income**
£
436
1,700
**2,136**|**Expenditure**
£
436
-
**436**|
**Transfers**
**between funds**
£
-
-
**-**|**31 Dec 2024**
£
-
1,700|
||||||
**1,700**|
9
Holy Trinity Church, Lyonsdown
Financial Report for 2024
|**Prior year**
Youth & Children’s work fund
Special Collections
Other|**1 Jan 2023**
£
-
-
633
**633**|**Income**
£
500
90
-
**590**|**Expenditure**
£
500
90
633
**1,223**|
**Transfers**
**between funds**
£
-
-
-
**-**|**31 Dec 2023**
£
-
-
-|
|---|---|---|---|---|---|
||||||
**-**|
The special collections fund is for donations collected for other charities.
The other restricted fund is for other small donations donated for specific causes such as repairs to the building, utilities or pieces of equipment.
## **5. Unrestricted Funds**
|Free reserves
Designated major
repairs fund
Designated fixed
assets reserves
Designated parish
share fund
**Prior year**
Free reserves
Designated major
repairs fund
Designated fixed
assets reserves
Designated parish
share fund|**1 Jan 2024**
£
32,154
10,000
1,965,150
10,000
**2,017,304**
**1 Jan 2023**
£
41,833
10,000
1,965,150
10,000
**2,026,983**|
**Income**
£
79,039
-
-
-
**79,039**
**Income**
£
81,594
-
-
-
**81,594**|**Expenditure**
£
87,837
-
-
-
**87,837**
**Expenditure**
£
91,273
-
-
-
**91,273**|
**Transfers**
**between funds**
£
5,000
5,000
-
(10,000)
**-**
**Transfers**
**between funds**
£
-
-
-
-
**-**|**31 Dec 2024**
£
28,356
15,000
1,965,150
-|
|---|---|---|---|---|---|
||||||
**2,008,506**|
||||||**31 Dec 2023**
£
32,154
10,000
1,965,150
10,000|
||||||
**2,017,304**|
The designated major repairs fund is a fund which is designated by the PCC to be used for repairs and maintenance of the church building.
The designated fixed assets reserves are the total of the charity’s reserves which are tied up in the church’s property, Lyonsdown Hall, and any other fixed assets. Therefore, these reserves can’t be spent unless the property or other assets are sold.
The designated parish share fund is to cover some of the cost of the parish share for 2024 and beyond as it is currently unclear what size of contribution will need to be paid in 2024 and beyond. However, it was decided at the end of 2024 that this fund is not currently needed as Holy Trinity is confident of being able to pay the 2025 parish share.
10
Holy Trinity Church, Lyonsdown
Financial Report for 2024
## **6. Analysis of Net Assets (between restricted and unrestricted funds)**
|Restricted
Unrestricted:
Free reserves
Designated fund – fixed assets reserves
Designated fund – major repairs fund
**Prior year**
Restricted
Unrestricted:
Free reserves
Designated fund – fixed assets reserves
Designated fund – major repairs fund
Designated fund – parish share fund|**Tangible fixed**
**assets**
£
-
-
1,965,150
-
**1,965,150**
**Tangible fixed**
**assets - 2023**
£
-
-
1,965,150
-
-
**1,965,150**|**Other net**
**assets**
£
1,700
28,356
-
15,000
**45,056**
**Other net**
**assets - 2023**
£
-
32,154
-
10,000
10,000
**52,154**|**Total**
£
1,700
28,356
1,965,150
15,000|
|---|---|---|---|
||||**2,010,206**|
||||**Total - 2023**
£
-
32,154
1,965,150
10,000
10,000|
||||**2,017,304**|
## **7. Transactions with Trustees and Related parties**
**Trustees’ Remuneration & Benefits:** None of the trustees have been paid any remuneration or received any other benefits from being employed as a trustee with the charity or a related entity. One trustee, Fiona Jones, received a salary from Holy Trinity for her job as Publicity Administrator for Holy Trinity. In 2024 this salary was £2,270 with employer pension contributions of £nil (2023: salary of £1,099 with employer pension contributions of £nil). Fiona Jones received no remuneration for being a trustee. Fiona Jones also excuses herself from any discussions or votes relating to salaries or employment policies at PCC meetings.
**Trustees Expenses:** The only trustees and connected persons to receive any reimbursement of personal expenses in 2023 or 2024 were the Priest in Charge from the end of 2021 onwards (The Rev Canon Laura Hewitt) and the Curate from July 2022 onwards (The Rev Jenny Robinson). The Rev Canon Laura Hewitt was paid expenses of £nil (2023: £4). This was for travel expenses. The Rev Jenny Robinson was paid expenses of £48 (2023: £356). £48 for travel and accommodation (2023: £100 for training and £256 for travel and accommodation). These expenses were all wholly related to their duties at Holy Trinity.
No other trustee received any remuneration or reimbursement of expenses in 2024 (2023: £nil), except for reimbursement of out of pocket expenses.
## **Transactions with Related Parties:**
In 2023 and 2024 the Church of St James’s, New Barnet, shared the Vicar, Rev Canon Laura Hewitt, and the Curate, Rev Jenny Robinson, with Holy Trinity. Therefore, some costs were incurred by St James’s for Holy Trinity and vice versa. Any costs incurred by one church for the other church are reimbursed in a lump sum once a year. At 31 December 2024 the total owed to St James’s by Holy Trinity was £3,239 (2023: £4,238).
The PCC is not aware of any other related party transactions in 2024 or 2023, apart from unconditional donations to the PCC from trustees and their spouses, and services provided on a voluntary basis.
## **8. Fees for Examination of the Accounts**
The fee for the Independent Examiner has not yet been finalised for the examination of the 2024 accounts but an accrual of £750 has been set up for this fee (2023: £750).
11
Holy Trinity Church, Lyonsdown
## Financial Report for 2024 **9. Grant funding of activities**
No grants were made in 2024 or 2023.
In 2023 a grant was received for the repair of the church boiler for £30,652. However, this grant funding was sent straight to the supplier so is not included in the accounts because it was never received directly by Holy Trinity and the net effect of the income and expenditure on the surplus / deficit is £nil.
## **10. Liabilities due after more than 1 year**
**Lease Deposit received from Twinkle Stars Nursery School**
|**Deposit received from Twinkle Stars Nursery School**|||
|---|---|---|
|Balance on 1 January
Interest accrued
Balance on 31 December
|**2024**
£
2,145
109
**2,254**|
**2023**
£
2,049
96|
|||**2,145**|
The deposit is repayable at the end of the lease term. Interest at the current rate paid by the Bank of England during the year is accrued and added to the deposit.
## **11. Deferred income**
Deferred income is accounted for on income which is invoiced for in the current financial year but which relates to the next financial year. This is largely room hire income for Lyonsdown Hall which is invoiced for in advance but which relates to room hire in the next financial year. In 2024 this was £2,422 (2023: £9,481). The only other deferred income is rent from the Twinkle Stars Nursery invoiced in advance but relating to the next financial year. This was £1,903 in 2024 (2023: £119).
## **12. Going concern**
The trustees believe that Holy Trinity is a going concern for several reasons. Firstly its free reserves are still close to the target in the reserves policy with some designated reserves in addition to the free reserves to help cover emergencies. Secondly the church has the significant asset of Lyonsdown Hall which could be sold or have a change of use if necessary. Finally, the congregation at Holy Trinity has started to grow and in 2024 giving from the congregation increased leading to hopes that giving from the congregation will continue to increase. This means that the trustees are not aware of any material uncertainties about the charity’s ability to continue.
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Holy Trinity Church, Lyonsdown
Financial Report for 2024
## **Independent examiner’s report to the trustees of The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity, Lyonsdown**
I report to the trustees on my examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity, Lyonsdown (the Trust) for the year ended 31st December 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust 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 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:
Ruth Savage BBA (Hons), MICB PM.Dip
Savage Nine Ltd, 52 Ashley Street, Sible Hedingham, Essex, CO9 3EH 23rd April 2025
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