2024-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of Christ Church Hornsey London Diocese

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

www.crouchend.church

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY Diocese of London

Charity Registration no. 1131307

Annual Report & Accounts 31 December 2024

32 Crescent Road London N8 8AX

Independent Examiner John Helm ACA

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Report and Financial Statements 2024 Contents

	Page
Legal and administrative information	2
Report of the Parochial Church Council	3
Independent Examiner’s report to the Parochial Church Council	7
Statement of financial activities	8
Balance sheet	9
Notes to the financial statements	10

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Legal and Administrative Information For the year ended 31 December 2024

Charity Name	Parochial Church Council of Christ Church, Hornsey
Principal Address	32 Crescent Road, Crouch End, London, N8 8AX
Charity Registration	1131307 The PCC was registered with the Charity Commission on 24thAugust 2009.
Governing Document	Parochial Church Council Powers Measure (1956) as amended and Church
	Representation Rules.
Objectives	Parochial Church Council Of Christ Church has the responsibility of cooperating with
	the Incumbent of Christ Church, the Revd Adam Pymble, in promoting in the
	ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and
	ecumenical.
Members of the PCC	PCC members who served during 2024 or were serving at the date this report was
	approved were:
Clergy	The Revd Adam Pymble (Vicar)
Wardens	Mr Jonathan Hannah
	Mr Graham Constable
Deanery Synod Representative	Mrs Renata Hodgson
Elected members	Ms Rebekah Allcock (Treasurer, elected 2024 – second term, previously
	ex officio)
	Mrs Renata Hodgson (elected 2024 – second term)
	Mr Timothy Culverhouse (elected 2024 – second term)
	Mrs Rebecca Constable (elected 2024 – second term)
	Mrs Harriet Gilbey (elected 2022)
	Mrs Olivia King (PSO elected 2023)
	Mr Victor Nathan (elected 2023)
Key Management	Those in charge of planning, directing, controlling, running and operating the Charity,
Personnel	including those members of staff who are the senior management personnel to whom
	the trustees have delegated significant authority or responsibility in the day-to-day
	running of the charity, are the Vicar, members of the Standing Committee.
Bankers	NatWest Bank Ltd
	HSBC
	Santander
Independent Examiner	John Helm ACA
	Tandem Accounting
	17 Heathville Road
	London N19 3AL

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Report of the Parochial Church Council For the year ended 31 December 2024

The Parochial Church Council of Parochial Church Council of Christ Church – Hornsey (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2024. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)). The legal and administrative information set out earlier in this document forms part of this report.

1. Structure, Governance & Management

1.1 Trustees

The PCC meets approximately 6 times per annum to discuss a full range of matters, both operational and strategic, relating to finance, fabric, resourcing and HR, general administration and the mission/ministries of the church. The PCC also has responsibility for keeping the Electoral Roll. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meetings (APCM) in accordance with the Church Representation Rules 2021.

The method of appointment of PCC members is set out in the Church Representation Rules. All those baptised and believers who consider themselves part of the church family are encouraged to register on the Electoral Roll.

1.2 Church Attendance

The Electoral Roll revised in preparation for the 2025 Annual Parochial Church Meeting (APCM) in May 2025 comprised 83 members. At the end of 2024, average attendance in October was 81 adults and 31 children.

1.3 Risk Management

The PCC’s primary concern and objective is the glory of God. Whilst it is the PCC’s policy to trust wholly in the Lord that He will work out His purpose to this end, the PCC also acknowledges that it has a responsibility, both as individual members and as a body of members, for the identification and proper management of risks faced by the church in achieving its primary aim. The PCC has therefore assessed the major risks to which the church is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances. The PCC believes that, by monitoring income, expenditure and reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the PCC, it has established effective systems and procedures to mitigate those risks.

2. Activities & Strategies

In preparing this Report, the PCC has complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission and have sought to demonstrate that the PCC provides identifiable benefits which relate directly to its aims and which outweigh any potential detriment or harm. Further, the benefits are publicly available to all and are not in any way restricted to those able to pay. Any private benefits to members of the PCC are incidental.

To this end the PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:

Sunday morning services (8am monthly / 10.30am weekly)
Weekly Life Groups (Tuesday afternoons / Wednesday evenings / Friday mornings)
Monthly youth programs for 11-18 years old (Sunday evenings)
Weekly children’s ministry for 0 -11 years old (Sunday mornings)
Termly men’s and ladies fellowship evenings
Prayer meetings (monthly)

3. Review of the Year

We thank God for sustaining us by His grace this past year.

I am very grateful to the Lord, the wardens and you all for the sabbatical we were able to enjoy. It brought much time for prayerful thought about life and ministry here going forwards.

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Report of the Parochial Church Council For the year ended 31 December 2024

It’s been busy both practically and pastorally for the leadership since my return and we look forward to making time to plan for various developments in our ministry, make appointments and build the leadership team – not least of all as we anticipate the arrival of Ilho as Associate Minister.

It has been a season of challenge and change, whilst we rejoice that God's power is made perfect in our weakness, and the highlight of three adult baptisms on Easter Sunday. May we pray for the Lord to mercifully save more and more in our community as we hold out the Word of life. I pray the Bishop’s Visitation is full of help and insight to that end as the next chapter here unfolds, in which we all play our part to encourage one another in our walk with the Lord until faith is made sight.

Above all, my personal thanks to God for my wife Kate and the children – they're my most candid critics and encouraging support. They bear the burden and privilege of the joys and sorrows of full-time gospel ministry and church leadership. “I thank my God in every remembrance of you...”.

May we all pray for Christ’s leading and light to proclaim His name in the year ahead.

Rev’d Adam Pymble

Other Reports

Safeguarding

Regarding the PCC's obligations to safeguard 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.

Caroline Goringe and Olivia King continue to be the named PSOs for Christ Church. They met once a term with Adam to ensure safeguarding work is a priority.
Safeguarding training continued to be completed by members of the church family in order for them to serve faithfully in different ministry areas. Adam, Olivia and Caroline remain up to date with relevant training required to oversee safeguarding within church.
We continue to use the Parish Safeguarding Dashboard to ensure compliance with safeguarding guidelines.
Creche, Children's Work and Youth Work all continue, with enough adults to meet the appropriate adult:child ratios. We pray for continued provision of willing and able leaders to care for, teach and grow our children in love of the Lord.
The website continues to display safeguarding contact details as required. These details are also displayed around the church building alongside other important safeguarding details.
We continue to think about how best to serve some of our more vulnerable church family members. Care coordinators and life groups are working more organically together, ensuring that the whole church family are able to support one another in a timely and appropriate way.
Any safeguarding concerns raised to either of the PSOs over the course of the past year have been progressed in accordance with safeguarding policy. We are thankful to the Lord for few matters arising but remain alert to the fact that "it could happen here".

Church Fabric, Goods and Ornaments

During the period of 2024, the ongoing preparation works in regard to the visible subsidence has continued. The engineer, with the data received through the movement recordings, has drawn up the required works including further exploratory digs. This information will firstly be used to prepare an initial proposal for DAC advice prior to submitting a faculty application and subsequent tender, which we hope to do in 2025. In the meantime, regular weekly internal recordings of visible cracks are being carried out and ropes placed to limit public movement where necessary.

The last quinquennial report of March 2023 identified some items for address which are being worked through in order of priority. Urgent items (the chancel floor and walls) are being monitored (see above).

Church Cottages

Essential repairs to Flat A have been completed and the tenants are back in Flat A, after having been temporally moved to Flat B.

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Report of the Parochial Church Council For the year ended 31 December 2024

Church Hall

Essential repairs were noted, some windows and moving opening mechanisms were replaced and further works to the kitchen are planned to be completed in 2025.

Uniformed Organisations

The Beavers, Cubs and Scouts Group continue to provide a fun and well-balanced programme on Fridays, using our church building and church hall.

4. Financial Review

The church’s main sources of funding are the free will offerings and donations of church members, and investment income from the letting of church properties.

4.1 Financial Activity and Financial Position

This year returned a net deficit of £67,531 (2023: surplus of £75,177). In terms of the overall financial position, the balance sheet shows total net assets of £2,122,700 (2023: £2,190,231).

4.2 Reserves Policy

The PCC has examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. The PCC considers that, given the nature of the church’s work, free reserves should be equivalent to approximately 4 month’s routine general fund expenditure, plus committed future expenditure on other projects, where funds permit. The PCC is of the opinion that this provides sufficient flexibility to cover temporary shortfalls in income and will allow the church to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2024 the church had net free reserves of £330,788 (2023: £396,470) as follows:

Total reserves Less: restricted funds Less: tangible fixed assets Less: fixed asset investments Free reserves Free reserves requirement: 4 month’s budgeted routine expenditure Refurbishment projects Free reserves requirement	2024	2023 £ 2,190,231 - (758,761) (1,035,000)
	£

	2,122,700
	(45)
	(756,867)
	(1,035,000)

		396,470

	330,788

		65,000 150,000

	65,000
	-

		215,000

	65,000

The PCC is aware that the free reserves is in excess of the free reserves requirement. The PCC is currently considering other projects and budgeting in ways in which parity can be restored between free reserves and the free reserves requirement.

4.3 Investment Policy

The church currently places spare funds on bank deposit.

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Report of the Parochial Church Council For the year ended 31 December 2024

4.4 Grants Policy

The PCC makes annual grants to support missionary endeavours and charities in both the UK and abroad, notably in India and Chile. This was 16% of unrestricted income (which includes gift aid claimed back and rental/investment income) in 2024. Regular recipients are under review.

5. Plans for Future Periods

2025 is of course already well underway and we are grateful that our recent Church Family Weekend at Home was such a blessing. We continue to strive to ensure all the Lord has provided us with are used for His purposes and glory, from planning all teaching, ministries and the use of our buildings. This year we will finish learning together from the Apostle Paul’s first letter to the Corinthians before welcoming Ilho and family as our Associate Minister this coming summer. Much is being done behind the scenes to ensure our model and pattern of Elders/Wardens and PCC help multiply ministry and staff appointments as we seek to disciple, and serve one another in winning Crouch End for Christ.

6. Responsibilities of Trustees for the Financial Statements

The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the income and application of income of the charity for that period.

In preparing those financial statements, the PCC is required to:

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

The PCC is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables 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 governing document. The PCC is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.

7. Approval

The report of the PCC was approved by the PCC on May 12th 2025 and signed on its behalf by:

Revd Adam Pymble Chairman

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Report of the Independent Examiner to the Parochial Church Council of The Parish of Christ Church Hornsey

I report on the accounts of the Parochial Church Council of Christ Church Hornsey for the year ended 31 December 2024, which are set out on pages 8 to 16.

Respective responsibilities of PCC and examiner

The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is my responsibility to:

examine the accounts (under section 145 of the 2011 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
to state whether particular matters have come to my attention.

Basis of independent examiners’ report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiners’ 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:

accounting records were not kept in respect of the church as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the 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.

John Helm ACA 21 May 2025

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Statement of Financial Activities For the year ended 31 December 2024

Unrestricted Funds 2024 £ 160,663 10,587 1,257 64,073 -		Unrestricted Funds 2023 £ 148,540 2,777 1,275 60,117 3,981	Total 2023 £ 148,845 2,777 1,275 60,117 3,981
	Total
	2024
	£

	160,663
	10,587
	1,257
	64,073
	-

236,580		216,690	216,995
	236,580

132,855 170,996 303,851 - (67,271) - - (67,271) 2,189,926 2,122,655		18,915 122,903	18,915 122,903

	132,855
	171,256

		141,818	141,818
	304,111

		-	-
	-

		74,872	75,177
	(67,531)

		- -	- -
	-
	-

		74,872	75,177
	(67,531)

		2,115,054	2,115,054
	2,190,231

		2,189,926	2,190,231
	2,122,700

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Balance Sheet For the year ended 31 December 2024

		Unrestricted	Restricted
		Funds	Funds	Total	Total
	Note	2024	2024	2024	2023
		£	£	£	£
Fixed Assets
Tangible Assets	5	756,867	-	756,867	758,761
Investments	6	1,035,000	-	1,035,000	1,035,000
		1,791,867	1,791,867 0	1,791,867	1,793,761
Current Assets
Debtors	7	57,544	-	57,544	74,226
Cash At Bank And In Hand		350,971	45	351,016	331,238
		408,515	408,515 45	408,560	405,464
Creditors - Amounts Falling Due
Within One Year	8	77,727	-	77,727	8,994
Net Current Assets		330,788	45	330,833	396,470
Net Assets		2,122,655	45	2,122,700	2,190,231

Represented By:
Restricted Funds	9	-	45	45	305
Unrestricted Income Funds		2,122,655	-	2,122,655	2,189,926
Total Funds		2,122,655	45	2,122,700	2,190,231

The financial statements were approved by the PCC on May 12[th] 2025 and signed on its behalf by:

Rebekah Allcock Treasurer

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Notes to the Financial Statements For the year ended 31 December 2024

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 accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at market value.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members.

The PCC meets the definition of a public benefit entity under FRS 102.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

The income from trading activities includes rental income from the letting of church premises and leasehold land and buildings which is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs.

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

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.

Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.

Grants payable are payments made to third parties in furtherance of the PCC’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the PCC.
Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent audit/examination and legal fees.

The PCC contributes to certain employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the charity. The cost in the accounts is the amount of contributions paid and payable during the year.

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Notes to the Financial Statements For the year ended 31 December 2024

1. Accounting Policies (continued)

Rentals under operating leases are charged as incurred over the term of the lease.

Tangible Fixed Assets

Consecrated Property and Moveable Church Furnishings

Consecrated land and benefice property such as the church building and vicarage is excluded the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Freehold Land & Buildings

The freehold land and building is Flat B (top floor flat at Church Cottage B, Edison Road, London N8 8AE). This was accounted for as an investment property, until occupied by the curate in 2023, when it was transferred to tangible fixed assets. The flat was valued at £750,000 on 20 January 2018 by Cottage and Castle Chartered Surveyors in accordance with the Practice Statements in the RICS Appraisal and Valuation Manual. Depreciation is not provided as the estimated residual value is considered to be the same or higher than the carrying value of the property in the accounts.

Other Fixtures, Fittings & Office Equipment

The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful lives of the assets, which have been estimated as between 4 and 15 years.

Fixed Asset Investments

The church’s investments are represented by the church hall and one residential property. These were last valued on 20 January 2018.

Debtors

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 and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

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.

Fund accounting

The funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Notes to the Financial Statements For the year ended 31 December 2024

2. Income

Unrestricted Funds 2024 £ Donations & legacies Offerings – planned giving & one-off gifts 127,332 Offerings – collections 5,601 Income tax reclaimed 27,730 160,663 Charitable activities Fee income (net) 194 Mission event contributions 10,393 10,587 Other trading income Books 57 Lettings income 1,200 1,257 Investments Rental income 62,680 Bank Interest 1,393 64,073 Other Insurance claim - 236,580	Restricted Funds 2024 £ - - - 0 - - 0 - - 0 - - 0 - 0				Total 2023 £ 115,755 7,213 25,877
			Total
			2024
			£

			127,332
			5,601
			27,730

					148,845 - 2,777
			160,663

			194
			10,393

					2,777 75 1,200
			10,587

			57
			1,200

					1,275 59,302 815
			1,257

			62,680
			1,393

					60,117 3,981
			64,073

			-

					216,995
			236,580

3. Expenditure on Raising Funds

Unrestricted Funds 2024 £ Church hall costs 16,546 Residential accommodation 116,309 132,855	Restricted Funds 2024 £ - - 0				Total 2023 £ 16,897 2,018
			Total
			2024
			£

			16,546
			116,309

					18,915
			132,855

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Notes to the Financial Statements For the year ended 31 December 2024

4. Expenditure on Charitable Activities

Unrestricted Funds 2024 £ Provision of Clergy 71,493 Church life & outreach 20,413 Gifts & grants (see note below) 18,235 Office costs 18,742 Provision of Church building, facilities & equipment 40,793 Governance 1,320 170,996	Restricted Funds 2024 £ - - 260 - - - 260				Total 2023 £ 28,393 10,324 28,459 8,524 46,003 1,200 122,903
			Total
			2024
			£

			71,493
			20,413
			18,495
			18,742
			40,793
			1,320

			171,256

4a. Gifts and grants included within Expenditure on Charitable Activities are as follows:

Unrestricted Funds 2024 £ Gifts & grants to: Organisations 18,045 Individuals 190 18,235	Restricted Funds 2024 £ 260 - 260				Total 2023 £ 28,345 114 28,459
			Total
			2024
			£

			18,305
			190

			18,495

4b. Expenditure on staff costs included within Expenditure on Charitable Activities are as follows:

Gross salaries Social security costs Employer’s Annual Allowance Pension contributions Of which the following gross salaries were in relation to Key Management Personnel:	2024		2023
	£		£

	12,177		2,700
	425		59
	(425)		(59)
	569		-

	12,746		2,700


	0		0

These figures exclude the amounts paid to the Diocese for the incumbent and the curates, who are funded through the Common Fund. No employee (2023: nil) received emoluments in excess of £60,000 during the year.

The number of employees during the year was 1 (2023: 1).

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Notes to the Financial Statements For the year ended 31 December 2024

5. Tangible Fixed Assets

Freehold land & buildings £ Fixtures, fittings, plant & equipment £ Cost At 1 January 2024 750,000 64,667 Additions - 400 Disposals - - At 31 December 2024 750,000 65,067 Depreciation At 1 January 2024 - 55,906 Charge for Year - 2,294 Disposals - - At 31 December 2024 0 58,200 Net Book Value At 31 December 2024 750,000 6,867 At 31 December 2023 750,000 8,761


		Total
		£

		814,667
		400
		-


		815,067


		55,906
		2,294
		-


		58,200


		756,867

		758,761

All of the fixed assets are used for charitable purposes.

The freehold land and buildings is represented by Flat B (top floor fat at Church Cottage B, Edison Road, London N8 8AE). This was accounted for as an investment property, until occupied by the curate in 2023, when it was transferred to tangible fixed assets. The flat was valued at £750,000 on 20 January 2018 by Cottage and Castle Chartered Surveyors in accordance with the Practice Statements in the RICS Appraisal and Valuation Manual.

6. Fixed Asset Investments

Church Hall £ Residential Properties £ At 1 January 2024 625,000 410,000 Additions - - Revaluation - - 625,000 410,000
	Total
	£

	1,035,000
		-
		-

	1,035,000

The church hall was valued at market value on 20 January 2018 by Cottage and Castle Chartered Surveyors in accordance with the Practice Statements in the RICS Appraisal and Valuation Manual. The hall was built to replace a previous facility and is available for external hire in addition to its ongoing use by the church.

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Notes to the Financial Statements For the year ended 31 December 2024

6. Fixed Asset Investments (continued)

The residential property, Flat A (ground floor flat, Church Cottage A, Edison Road, London N8 8AE) was valued at £410,000 on 20 January 2018 by Cottage and Castle Chartered Surveyors in accordance with the Practice Statements in the RICS Appraisal and Valuation Manual.

7. Debtors

7. Debtors
Prepayments Income tax recoverable Accrued income Other	2024	2023 £ 8,297 61,300 3,003 1,626 74,226
	£

	7,895
	48,656
	-
	1,183

	57,734

8. Creditors - Amounts Falling Due Within One Year

Accruals		2024		2023 £ 8,994
		£

		77,727

9. Restricted Funds

At 1 January 2024 £ 305	ransfers £ -	At 31	At 31
		December
			2024
			£

			45

At 1 January 2023 £ Income £ Expenditure £ T 0 305 -
At 1 January 2023 £ 0	ransfers £ -		At 31
		December
			2023
			£

			305

PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY

Notes to the Financial Statements For the year ended 31 December 2024

10. Operating Lease Commitments

The total future minimum lease payments under non-cancellable operating leases are payable:

Not later than one year Later than one year and not later than five years		2024		2023 £ 1,416 689 2,105
		£

		1,416
		-

		1,416

11. Related Party Transactions

The members of the PCC gave a total of £57,928 (2023: £60,002) in unrestricted offerings and donations during the year.

The Standing Committee agreed that Rebekah Allcock (Trustee) would move into Church Cottage B once it was vacated in Dec 2024 as a Property Guardian to ensure upkeep and security of the property until the assistant minister arrives in summer 2025, foregoing commercial rent for this period.