St Stephen with St Julian – PCC Annual Report for the year 2023 (for APCM 28.4.24)
St Stephen’s Parochial Church Council (the PCC) has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and ecumenical. It is also responsible for maintaining the Church Centre.
Membership
Members of the PCC are either ex-officio or elected at the Annual Parochial Church Meeting (APCM) in accordance with the church representation rules.
During the year the following served as members of the PCC.
Incumbent Revd Rebecca Leach Assistant Curates Revd Patrick Moriarty Revd Charlie Hudson (from October 2023) Churchwardens Mike Gibbs Neil Johnston Deputy Churchwarden Judith Ward at St Julian’s Joanna Field (from December 2023) Sunday Duty Wardens Neil Johnston at St Stephen’s David La Riviere Luke Ambrose (resigned from PCC in Sept 2023, but remains as SD Warden)
Representatives to the Deanery Synod Andy Sharp (also Lay Vice Chair PCC) Maggie Dodd Sian Goodwin Elected Members Luke Ambrose (until September 2023) Anne Bowyer Yvonne Broadway Hamish Hamilton Dave La Riviere Sue Lutz Caine MacNeil Karen Pett Angela Smart Tim Vellacott Mary Willatt (Secretary) St Julian’s Representatives Randal ffrench (also Treasurer) Mike Gibbs (also Churchwarden) Andy Sharp
Other Officers in the Parish Health and Safety Officer Anthony Coles (St Stephen’s and St Julian’s) Safeguarding Officer Jane Wright (until September 2023) Mary Willatt (since September 2023) Electoral Roll Officer Diane Scott Buildings Officer Richard Pether Environment Officer Rachel Johnston
Fire Safety Officers
Fire Safety Officers Neil Johnston (SS) and Anthony Coles (SJ) Churches Together in St Albans Officers Sian Goodwin (SS) and Joanna Field (SJ)
Committees
The PCC operates through a number of committees, which meet between full meetings of the PCC.
Standing Committee
This is the only committee required by church law. It has power to transact the business of the PCC between the meetings, subject to any direction given by the council. It oversees the general financial dimensions of the work of St Stephen’s and St Julian’s. Buildings
Attends to church buildings and fabric, the churchyard and 12 Tavistock Avenue. Carbon Group Charities Children and Youth Communications Community Café Community Engagement Finance Hall Committee (SS) Lunch Club Pastoral Care Social and Fund Raising Music and Worship
St Julian’s District Church Council
Attends to matters relating to St Julian’s Church, including the general upkeep of the buildings and surrounding area. Organises social events and functions.
Church Attendance
There were 174 on the Church Electoral Roll.
Numbers attending Sunday services increased at both churches, especially at specific festivals such as Easter and Christmas. The PCC decided that the provision of live streamed services should continue as it was much appreciated by those unable to attend church in person and for those living far away such as friends and relatives. Similarly, the PCC thought that the Sunday sheet ‘Together in Prayer’ should continue as this was also valued by many people.
The Wednesday evening service of Compline was held at certain times in the year such as during Advent and Lent. The early morning services continued their normal pattern, with the continuation of coffee and cake at St Stephen’s after the 9.15 service of Holy Communion. The Friday morning prayer time continued each week on Zoom.
The course ‘Living in Love and Faith’ was led by Becky and Patrick at St Julian’s. The Advent course was held for members of the South St Alban’s Churches at three different locations and the recent Lent course at two locations.
Review of the year.
The Parochial Church Council met six times during the year, the Standing Committee also met on six occasions in the months between. The various committees met during the year, sending to the PCC their reports for discussion or their recommendations for approval when necessary. The APCM was held in the hall in April 2023.
Attendance by PCC members at PCC meetings was 84% for the year and for the Standing Committee 81%. Absences were due to illness or work commitments.
The PCC continues to include Parish Safeguarding as an item on the agenda at each meeting. This ensures we are up to date with the rules and regulations and that all necessary training is completed. The March meeting includes, on its agenda, the revision and approval of the many statutory documents. We are most grateful to Jane Wright and Mary Willatt for their work in ensuring the parish meets its commitments.
Matters relating to Health and Safety have been reported at each meeting and actions taken as necessary.
The Fire Safety Officer led the PCC through Risk Assessments and members of the Sides team at St Stephen’s were trained on evacuation procedures. The subject of Data Protection was also considered and PCC members will be undergoing training.
As is usual at the May meeting, the PCC approved the members of the Standing Committee and elected the various officers of the PCC and the conveners of the many committees. The PCC also approved the names of the Communion Assistants,
The Treasurer, Randal ffrench, provided financial reports each month to the PCC and Standing Committee meetings. The Annual Parish Accounts for 2023 are printed separately. The PCC made decisions about Fees and Honoraria, and also approved the spending recommended by the Charities Committee at St Stephen’s, donations being sent to International charities working overseas, National charities in the UK and local charities in the St Albans area.
The Mission Action Plan (MAP) was considered and referred to regularly.
The Lay leader of Children and Families attended a PCC meeting to present her report on her first year in the post.
The Friends of St Stephen’s Church held its inaugural event in the autumn with a Church quiz and social event. Membership currently stands at 76, about one third coming from the wider community.
The Environment Officer presented regular reports about trainings, seminars and events and, with other PCC members, organised activities for young people leading to the creation of an insect hotel called Buggingham Palace.
Diocesan approval was given for the installation of bird boxes , a water butt and the planting of the avenue of Hawthorn trees , which contributed to St Stephen’s being awarded the Silver Level of the Eco Church Award. The area of Worship at each church is already at Gold level.
Approval was also given for the planting of a hedge along the northern boundary of the churchyard and the installation of two bat boxes.
The Carbon Group reported on their investigations into power use and continued to research ways towards reaching Net Carbon Zero.
During the year the PCC received regular reports of the progress being made towards the completion of the Porch Project of new glass doors to the main church and new oak and glass doors and windows to the actual porch. A major concern was the poor condition of the ancient horse chestnut tree , planted in 1785, and ecological surveys were commissioned before decisions were made about its future.
Additional matters under consideration were: the renewal of the car park lease at St Stephen’s, the need to improve the car park surface with gravel, the churchyard boundary wall , the paths and possible removal of small trees in the current burial ground, and the tuning and minor repairs to the organ .
Other projects, now completed, were: the provision of a new notice board next to the path leading from the car park, the placing of three new benches in the churchyard and the renovation of the existing ones, repairs to the entrance to the car park and the purchase of a new cooker in the kitchen.
The PCC also decided to continue with the same contractors for the cutting of the grass in the churchyard, and reviewed the hall hire charges at St Stephen’s.
The DCC (St Julian’s) reported on the work around the church as part of Volunteers Day and the repairs to the shed roof . The windows in the church/vestry and hall are to be replaced soon.
The PCC agenda included reports from the representatives to the Deanery Synod which is held three times in the year.
The PCC heard about various schemes to help others in the local community and overseas. Cooking sessions in the kitchen have been run for ladies from the Noke Hotel.
Church members were willing participants in a project, run by Maggie Dodd as an Anna Chaplain, of making and wrapping the knitted, crocheted and decorated wooden angels to send to elderly residents in St Albans. Filled shoe boxes were sent to children and adults in Ukraine as part of the Blythswood Trust and Christmas Gifts were sent to refugees at the Noke Hotel. The DCC (St Julian’s) reported on Cakes and Carols, an event which raised funds for The Open Door, sent money to the Bishop’s Harvest Appeal and hosted cyclists as part of the Bike and Hike fund raising for the Beds and Herts Historic Churches Trust.
The PCC also received notice of events organised by the Social and Fund Raising Committee at St Stephen’s and the Pastoral Care Team: the Jumble Sale and the Christmas Fair , the Coronation Tea Party and Christmas Tea Party , the Parish Lunch , and the Quiz Night with Fish and Chip Supper. At St Julian’s there were two Games Evenings , a Summer Fair, an Autumn Fair and a Books/CD and Cream Tea afternoon.
The PCC wish to record their grateful thanks to Alison Pether for her support - circulating the Pew Sheets, Notices, and the Parish Magazines to more than 200 people, and completing many other tasks. Finally, and in recognition of all that has been achieved during a very busy year, the members of the PCC wish to record their appreciation to Becky, for her leadership and guidance, and to the other members of the ministry team - Patrick, Charlie, Martin, Geoff and Michael, also Mike, Netta and Maggie, for the opportunities to worship in so many ways and for supporting everyone in the Parish and wider community.
Mary Willatt, PCC Secretary.
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PARISH OF ST STEPHEN'S WITH ST JULIAN'S ST ALBANS I report on th8 accounts of the PCC for tt* year ended 31 Dember 2023. which are Set out on pages 1 to 10 Rg¥pectiv• rnspon•lbllltl•s of tho mombor¥ of th• PCC and •xamln•r As members of the PCC. you are responSie for the preparation of Ihe accounts and consid8r that an audit is not required for this year under tion 144121 of the Charities A¢t 2011 Ithe 2011 Act) and that an Independent oxamination is needed. The PCC is prepanng accrued accounts and l am qualified to undertake the examination by being a qualified member of th• In$titule of charte Accountsnis of England and Wales IICAEW). It is my r•sponsibility to". examino th8 accounts und•r 10n 145 of th8 Charrt8 Act 2011,. to follow the procedures laid down in tho gener•1 Directions given by th• Chanty Commission under section 145151{bl of the 2011 k¢,. and 10 slate whethar particular matters have come to my attentson. 80•1• of Ind•p•nd•nt •x•mln•rf• v•port My examination was camed out In accordance with th• general directions given by the Charity Commi$8ion An examination indud•s • revMw of the accounting records kept by the charity and a compan8on of the accounts presented with those records. It also includes consid8ralion of any unusual rtems or di$¢lo$ure$ In the accounts, and s•¥king explanations from you as trustees concerning any such matt¢r8 The procedures undertaken do not provide •ll Ihe evidence that would be requirod in an audit and consequently no opinion Is given as to wheth•r the accounts present a 'In and fair view, and the report 15 limited to th0 matters Jet out in th8 stat•mnl below Ind•p•nd•nt •xim5n•rf• •tat•m•nt In connoclion with my examination. no mattef ha$ come to my attentson.. 11} whrch giv88 me reasonable ¢au8e to believe that in any matenal re8p#ct the requirements.. to keep accounting r•cord¥ in accordance with section 130 of the 2011 Act." or to preparo o¢¢ounts which accord wrth ¢h• •cUntsr r•cord8 havè not b••n mel.. or 121 to which, In my opinion, att&nlion should be drawn in order to enablo a proper understanding of the accounts to be reached. M¥tthew John8 MA FCA 41 Mount Drive Park Street St Albans AL2 2NP 19 May 2024
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans Statement of Financial Activities
For the year ending 31 December 2023
| Note INCOMING RESOURCES Voluntary Income 2a Activities for generating funds 2b Investment Income 2c Trading 2d Church Activities 2e Other incoming resources 2f TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds 3a Church Activities 3b Church Expenses 3c Major Capital Expenditure 3d Other Out-goings 3e TOTAL RESOURCES EXPENDED NET INCOMING/(OUTGOING) RESOURCES Transfer between funds NET MOVEMENT IN FUNDS BALANCES BROUGHT FORWARD AT 1 JANUARY 2023 BALANCES CARRIED FORWARD AT 31 DECEMBER 2023 |
Unrestricted Funds £ 91,431 3,348 33,862 34,814 11,974 191 175,621 385 104,893 69,498 7,262 1,830 183,868 (8,247) 0 (8,247) 226,803 218,556 |
Designated Funds £ 15,153 2,949 1,322 10,932 3,705 400 34,462 742 13,645 14,980 1,181 0 30,547 3,914 0 3,914 64,090 68,004 |
Restricted Funds £ 136,877 0 0 0 0 2,372 139,250 0 0 5,778 43,461 0 49,239 90,010 90,010 99,802 189,812 |
TOTAL 2023 £ 243,462 6,297 35,185 45,747 15,679 2,963 349,332 1,126 118,538 90,255 51,904 1,830 263,654 85,678 0 85,678 390,695 476,373 |
FUNDS 2022 £ 112,266 4,090 13,891 42,951 14,618 1,427 189,244 1,184 106,714 68,621 3,385 2,045 181,950 7,294 0 7,294 383,401 390,695 |
|---|---|---|---|---|---|
Note 1: See page 3 Notes 2: See page 5 Notes 3: See page 5
Page 1
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans
Balance Sheet at 31 December 2023
| Note FIXED ASSETS Tangible fixed assets 4 Investment assets CURRENT ASSETS 5 Stock Debtors 7 Short term deposits Cash at bank and in hand LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 8 NET CURRENT ASSETS NET ASSETS FUNDS 6 Unrestricted Designated Restricted |
2023 £ 750,000 0 - 6,785 336,332 153,850 496,967 (20,594) 476,373 1,226,373 968,556 68,005 189,812 1,226,373 |
2022 £ 750,000 0 - 5,717 347,204 50,610 403,532 (12,836) 390,695 1,140,695 976,803 64,091 99,802 1,140,695 |
|---|---|---|
Approved by the Parochial Church Council on March 12th 2024 and signed on its behalf by:
The notes following form part of these accounts
Page 2
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans Notes to the Financial Statements for the year ended 31/12/2023
1 Accounting Policies The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and the Charities Act 2011 together with applicable accounting standards and the SORP 2005
The financial statements have been prepared under the historical cost convention.
Funds
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. Restricted funds can only be used for the purposes specified by the giver.
Funds designated for the use of the St. Julian's DCC are shown separately as Designated. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members.
Incoming Resources: Voluntary income and capital sources
Collections are recognised when received by or on behalf of the PCC. Planned giving is recognised only when received. Income tax recoverable on donations is estimated monthly as a debt. This debt is written off when the payment is received. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.
Funds raised by the auction, summer fair and similar events are accounted for gross.
Other Income Income from investments There has been no investment income during the year.
Rental income from the letting of church premises is recognised when the rental is due.
Resources Used: Grants Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. Activities directly related to the work of the Church The diocesan parish share is accounted for as sums are paid. Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet.
Fixed Assets: Consecrated property and movable church furnishings Consecrated and beneficed property is excluded from the accounts by s.96(2) of the Charities Act 1993.
Inalienable Assets:
St. Julian's Church is dedicated and should be accounted for as inalianable property. However, it has not been valued and the cost of valuation is judged to be not worth the benefit obtained. For this reason it is not included in the accounts.
Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the church's Inventory which can be inspected (at any reasonable time). For inalienable property acquired prior to these accounts, there is insufficient cost information available and therefore no such assets are valued in these accounts.
All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £15,000 or on the repair of movable church furnishings is written off.
Other fixtures, fittings and office equipment
Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £15,000 or less are written off when the asset is acquired.
Investments
There are no investments held.
Current Assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. Short term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.
Page 3
Accounts 2023
St Stephen's with St. Julian's Parish reserves Policy
By law a charity is not allowed to hoard funds. The PCC has to justify the reserves that it holds. In this context, Reserves are the current assets less the restricted funds: i.e. those funds readily available for any eventuality.
We are required to state a minimum that it is prudent to hold and a maximum that we can justify.
1. Minimum Reserve
Any problems with cash flow may not be identified immediately as income and expenditure fluctuate from month to month. It is considered prudent to ensure that reserves are greater than six month's expenditure to allow three months to identify a problem and another three months for action to show results.
2. Maximum Reserve
Expenditure on exceptional items or Quinquennial items during the five years between inspections could credibly reach £100,000. The most that we can justifiably hold in excess of the miminum reserve would be this plus any planned projects.
3. 2022
For 2022 these policies become:
a) Half of 2023 expenditure = £ 106,292 Minimum Reserve Say £100,000 b) Possible projects: Organ Refurbishment 100,000.00 St.Stephens Tree removal/path repair 20,000.00 St. Julian's Vestry 5,000.00 St. Stephens Projection Equipment 25,000.00 St. Julian's Windows 35,000.00 St. Stephens Boundary Wall 20,000.00 St. Stephens Pulpit Repair 7,000.00 Total £212,000 The maximum reserve for 2023 is therefore £100,000 Exceptional/Quinquennial £100,000 Other £212,000 Maximun Reserve Total £412,000
These limits can be breached - it is merely that the PCC feel it is prudent to attempt to keep the reserves above the minimum and below the maximum.
At the end of 2023 the reserves were £218,556
Page 4
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans Notes to the Financial Statements
for the year ended 31/12/2023
- 2 Incoming Resources
----- Start of picture text -----
Unrestricted Designated Restricted Total 2023 Total 2022
2a Voluntary Income
Planned giving tax efficient 49,210.12 9,249.26 0.00 58,459.38 66,107.03
Gift Aid recovered 14,641.22 1,917.91 750.00 17,309.13 17,479.85
Other Planned giving 8,770.06 0.00 0.00 8,770.06 400.00
Collections 5,545.03 214.33 0.00 5,759.36 7,314.80
Grants 0.00 1,900.00 1,900.00 2,179.41
Legacies 1,000.00 128,581.00 129,581.00 0.00
Other giving 12,264.75 3,771.82 5,646.32 21,682.89 18,784.46
Total 91,431.18 15,153.32 136,877.32 243,461.82 112,265.55
2b Activities for generating funds
Fairs and other fund raising 3,348.15 2,948.53 0.00 6,296.68 4,090.35
Total 3,348.15 2,948.53 0.00 6,296.68 4,090.35
2c Investment income
Interest (gross) bank 11,062.40 1,322.36 0.00 12,384.76 4,391.32
Rent - 12 Tavistock Ave 22,800.00 0.00 22,800.00 9,500.00
Total 33,862.40 1,322.36 0.00 35,184.76 13,891.32
2d Trading
Hall hire 27,068.50 9,984.25 37,052.75 35,388.83
Magazine 1,408.67 1,408.67 1,702.58
Other 6,337.15 0.00 6,337.15 4,811.81
St. Julian's Trading 0 49.90 49.90 219.54
Community Café 0.00 898.22 0.00 898.22 828.38
Total 34,814.32 10,932.37 0.00 45,746.69 42,951.14
2e Church Activities
Fees - Weddings and funerals 11,974.00 11,974.00 10,817.25
Organ Fund 3,705.00 3,705.00 3,801.15
Total 11,974.00 3,705.00 0.00 15,679.00 14,618.40
2f Other Ordinary Income
Insurance claims 0 0.00 0
Other Income 190.87 400.00 2,372.19 2,963.06 1426.9
Total 190.87 400.00 2,372.19 2,963.06 1,426.90
Total of Incoming resources 175,620.92 34,461.58 139,249.51 349,332.01 189,243.66
----- End of picture text -----
3 Resources expended
| 3a Costs of generating funds Costs of fund-raising activities Total 3b Church Activities Mission giving, donations Parish share Salaries, wages and Honoraria Clergy and staff expenses Total 3c Church expenses Mission and evangelism Church running expenses Church utility bills Cost of Trading Community Café Total 3d Major Capital Expenditure Major repairs to the church Major repairs to the hall New building Total Sub-total for church activities& expe 3e Governance Other out-goings Total Transfers between funds Total of resources expended Surplus/loss |
Unrestricted Designated Restricted Total 2023 Total 2022 384.69 741.67 0.00 1,126.36 1,184.35 384.69 741.67 0.00 1,126.36 1,184.35 8,102.51 1,825.05 0.00 9,927.56 5,875.92 72,804.00 11,820.00 0.00 84,624.00 79,411.00 0.00 0.00 0.00 0.00 0.00 7,471.50 0.00 0.00 7,471.50 4,545.00 16515.26 0.00 0.00 16,515.26 16,882.39 104,893.27 13,645.05 0.00 118,538.32 106,714.31 1,167.19 0.00 800.00 1,967.19 411.80 35,161.89 1,696.73 1,560.00 38,418.62 31,989.84 19,057.70 961.17 1,600.00 21,618.87 12,199.41 14,110.72 11,611.95 1,817.99 27,540.66 23,590.88 709.67 709.67 429.23 69,497.50 14,979.52 5,777.99 90,255.01 68,621.16 7104.2 1,181.06 39,756.26 48,041.52 1754.89 157.95 0.00 3,705.00 3,862.95 1630.2 0 0.00 0.00 0 7,262.15 1,181.06 43,461.26 51,904.47 3,385.09 nses 182,037.61 30,547.30 49,239.25 261,824.16 179,904.91 0.00 0.00 0.00 1,830.28 1,830.28 2,044.77 183,867.89 30,547.30 49,239.25 263,654.44 181,949.68 0.00 0.00 0.00 0.00 0.00 183,867.89 30,547.30 49,239.25 263,654.44 181,949.68 (8,246.97) 3,914.28 90,010.26 85,677.57 7,293.98 |
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Page 5
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans Notes to the Financial Statements for the year ended 31/12/2023
| 4 Fixed Assets Investments |
Total Total Unrestricted Designated Restricted 2023 2022 750,000.00 0.00 750,000.00 750,000.00 0.00 0.00 0.00 |
|---|---|
The property owned at 12, Tavistock Avenue was valued at £240,000 in April 2002. Advice was received in Ju It is insured for £606,880
St. Stephen's church and hall are not required to be valued. However, they are insured for £11,590,000
St. Julian's Church is an inalianable asset. It has not been valued and so is not included. St. Julian's Church is insured for £2,960,000
| 5 Current Assets Stock Debtors Short term deposits Cash & Current account Liabilities Net Current assets Net assets 6 Funds Unrestricted Designated Restricted Total 7 Debtors and Prepayments Deposits not yet paid in Tax refund not yet received Total 8 Liabilities Accruals assigned fees not paid Cheques not yet cashed by Creditors Total |
0.00 0.00 6,678.13 106.87 0.00 6,785.00 5,717.16 102,733.18 43,787.14 189,811.96 336,332.28 347,204.32 127,969.02 25,880.70 0.00 153,849.72 50,610.03 (18,824.09) (1,769.89) (20,593.98) (12,836.06) 218,556.24 68,004.82 189,811.96 476,373.02 390,695.45 968,556.24 68,004.82 189,811.96 1,226,373.02 1,140,695.45 2023 2022 968,556.24 976,803.21 68,004.82 64,090.54 189,811.96 99,801.70 1,226,373.02 1,140,695.45 Unrestricted Designated Restricted 2023 2022 1361.33 106.87 0.00 1,468.20 1,746.70 5316.80 5,316.80 3,970.46 6,785.00 5,717.16 Unrestricted Designated 2023 2022 (1,212.53) (1,212.53) (1,133.00) (1,153.00) (1,153.00) (1,228.33) recipient (15,819.89) (1,769.89) (17,589.78) (9,532.67) (638.67) (638.67) (942.06) (18,824.09) (1,769.89) (20,593.98) (12,836.06) |
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Page 6
Accounts 2023
BALANCE SHEET OF ST. STEPHEN'S
Balance sheet as at 31.12.23
----- Start of picture text -----
Unrestricted Designated Restricted Total Total
Funds Restoration 2023 2022
Notes
Fixed Assets
1 Tangible fixed assets 750,000.00 750,000.00 750,000.00
Investment assets 0.00 0.00 0.00
Current Assets
Stock 0.00 0.00
Debtors 6,678.13 6,678.13 5,717.16
Short term deposits 102,733.18 12,901.23 189,253.38 304,887.79 314,858.55
Cash & Current account 127,969.02 24,722.00 152,691.02 49,894.43
Liabilities (18,824.09) (18,824.09) (9,572.02)
Net Current assets 218,556.24 37,623.23 189,253.38 445,432.85 360,898.12
Net assets 968,556.24 37,623.23 189,253.38 1,195,432.85 1,110,898.12
Represented by Funds
Unrestricted 1,006,179 1,011,101
Restricted 189,253 99,797
Total 1,195,433 1,110,898
----- End of picture text -----
- The property owned at 12, Tavistock Avenue was revalued in April 2002 An estimate of the current value was given in July 2022.
| Statement of Financial Activities | Statement of Financial Activities | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Total | Total | |||||||||
| Funds | Restoration | 2023 | 2022 | ||||||||||
| Incoming Resources | |||||||||||||
| 2 | Voluntary income | 91,431.18 | 136,877.32 | 228,308.50 | 99,338.57 | ||||||||
| 3 | Activities for generating funds | 3,348.15 | 0.00 | 3,348.15 | 1,896.91 | ||||||||
| 4 | Investment income | 33,862.40 | 400.64 | 0.00 | 34,263.04 | 13,553.37 | |||||||
| 5 | Trading | 34,814.32 | 0.00 | 0.00 | 34,814.32 | 32,499.72 | |||||||
| 6 | Church Activities | 11,974.00 | 3,705.00 | 0.00 | 15,679.00 | 14,618.40 | |||||||
| 7 | Other ordinary income | 190.87 | 0.00 | 190.87 | 414.03 | ||||||||
| Total | 175,620.92 | 4,105.64 | 136,877.32 | 316,603.88 | 162,321.00 | ||||||||
| From St. Julian's | 11,831.52 | 11,831.52 | 9,900.00 | ||||||||||
| Total incoming resources | 187,452.44 | 4,105.64 | 136,877.32 | 328,435.40 | 172,221.00 | ||||||||
| Resources used | |||||||||||||
| 8 | Cost of generating funds | 384.69 | 0.00 | 0.00 | 384.69 | 541.43 | |||||||
| 9 | Church Activities | 116,713.27 | 0.00 | 0.00 | 116,713.27 | 104,543.79 | |||||||
| 10 | Church Expenses | 69,509.02 | 204.00 | 3,960.00 | 73,673.02 | 57,509.20 | |||||||
| 11 | Major Capital Expenditure | 7,262.15 | 576.00 | 43,461.26 | 51,299.41 | 3,205.09 | |||||||
| Other out-goings | 1,830.28 | 0.00 | 1,830.28 | 2,044.77 | |||||||||
| Total | 195,699.41 | 780.00 | 47,421.26 | 243,900.67 | 167,844.28 | ||||||||
| transfer between funds Total |
0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| Surplus/deficit | (8,246.97) | 3,325.64 | 89,456.06 | 84,534.73 | 4,376.72 | ||||||||
| Balances | brought forward | ||||||||||||
| at January 1st 2023 | 226,803.21 | 34,297.59 | 99,797.32 | 360,898.12 | 356,521.40 | ||||||||
| Transfers between funds | |||||||||||||
| Balances carried forward | 218,556.24 | 37,623.23 | 189,253.38 | 445,432.85 | 360,898.12 | ||||||||
| at December 31st 2023 | balance | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Trading Summary | 2023 | 2022 | |||||||||||
| (Expenses/Purchases) | Income | surplus / (loss) | |||||||||||
| Magazine | 1,564.00 | 1,408.67 | - | 155 |
19 | ||||||||
| Hall | 425.15 | 27,068.50 | 26,643 | 24,905 | a | ||||||||
| Other (12 Tavistock Ave, lunch cl | 12,121.57 | 29,137.15 | 17,016 | 1,800 | |||||||||
| Total | 14,110.72 | 43,504 | 26,724 |
Notes: (a) Does not allow for Heat, Light and Insurance costs, nor any provision for cost of construction
Page 7
Accounts 2023
St. Stephen's Income and Expenditure
for the year ended 31/12/2023
----- Start of picture text -----
Notes to Incoming Resources 2023 2023 2023 2023 2022 Notes to Resources Used 2023 2023 2023 2023 2022
Unrestricted Designated Restricted Total Total Unrestricted Designated Restricted Total Total
2 Voluntary Income Restoration General Restoration
Planned giving tax efficient 49,210.12 49,210.12 57,555.48 8 Costs of generating income
Gift Aid recovered 14,641.22 750.00 15,391.22 15,711.44 Costs of fund-raising activities 384.69 384.69 541.43
Other Planned giving 8,770.06 8,770.06 400.00 Total 384.69 0.00 0.00 384.69 541.43
Collections 5,545.03 5,545.03 6,500.98
Grants 0.00 1,900.00 1,900.00 2,179.41 9 Church Activities
Legacies 1,000.00 128,581.0 129,581.00 0.00 Mission giving, donations 8,102.51 8,102.51 3,705.40
Other giving 12,264.75 5,646.32 17,911.07 16,991.26 Parish share 84,624.00 84,624.00 79,411.00
Total 91,431.18 136,877.32 228,308.50 99,338.57 0.00 0.00
Salaries, wages and Honoraria 7,471.50 7,471.50 4,545.00
3 Activities for generating funds Clergy and staff expenses 16,515.26 16,515.26 16,882.39
Fairs and other fund raising 3,348.15 3,348.15 1,896.91 Total 116,713.27 0.00 0.00 116,713.27 104,543.79
Total 3,348.15 0.00 0.00 3,348.15 1,896.91
10 Church expenses
4 Investment Income Mission and evangelism 1,167.19 800.00 1,967.19 411.80
Interest 11,062.40 400.64 11,463.04 4,053.37 Church running expenses 35,173.41 204.00 1,560.00 36,937.41 30,349.52
Rent 22,800.00 22,800.00 9,500.00 Church utility bills 19,057.70 1,600.00 20,657.70 11,471.97
Total 33,862.40 400.64 0.00 34,263.04 13,553.37 Cost of Trading 14,110.72 14,110.72 15,275.91
5 Trading Community Café 0.00 0.00
Hall hire 27,068.50 27,068.50 25,985.33 Total 69,509.02 204.00 3,960.00 73,673.02 57,509.20
Magazine 1,408.67 1,408.67 1,702.58
Other 6,337.15 6,337.15 4,811.81 11 Major Capital Expenditure
Community Café 0.00 0.00 Major repairs to the church 7,104.20 576.00 39,756.26 47,436.46 1,574.89
Total 34,814.32 0.00 0.00 34,814.32 32,499.72 Major repairs to the hall 157.95 3,705.00 3,862.95 1,630.20
New building 0.00 0.00 0.00
6 Church Activities Total 7,262.15 576.00 43,461.26 51,299.41 3,205.09
PCC wedding etc fees 11,974.00 11,974.00 10,817.25
organ fund 3,705.00 3,705.00 3,801.15
Total 11,974.00 3,705.00 0.00 15,679.00 14,618.40 Sub-total for church activities and expenses 193,869.13 780.00 47,421.26 242,070.39 165,799.51
0.00 0.00
Other out-goings 1,830.28 1,830.28 2,044.77
7 Other ordinary income
Insurance claims 0.00 0.00 0.00 Total 195,699.41 780.00 47,421.26 243,900.67 167,844.28
Other income 190.87 190.87 414.03
Total 190.87 0.00 190.87 414.03 transfer between accounts
Total Resources used 195,699.41 780.00 47,421.26 243,900.67 167,844.28
Grand Total 175,620.92 4,105.64 136,877.32 316,603.88 162,321.00
316,603.88 Surplus/(Loss) (8,246.97) 3,325.64 89,456.06 84,534.73 4,376.72
Contribution from St. Julian's towards joint costs
11,831.52 11,831.52 9,900.00
Transfers between funds
Total Incoming Resources 187,452.44 4,105.64 136,877.32 328,435.40 172,221.00
----- End of picture text -----
Page 8
Accounts 2023
ST JULIAN'S CHURCH - BALANCE SHEET AND STATEMENT OF FINANCIAL ACTIVITIES
Balance sheet as at 31.12.23
| Fixed assets (see note) Current assets Stock Debtors Short term deposits Cash Current account Liabilities Net current assets Net assets |
Unrestricted Restricted Total Total General Savings Designated 2023 2022 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 106.87 0.00 0.00 0.00 106.87 0.00 13068.53 16000.00 1817.38 558.58 31,444.49 32,345.77 0.00 0.00 0.00 0.00 0.00 0.00 1158.70 0.00 0.00 0.00 1,158.70 715.60 1769.89 0.00 0.00 0.00 1,769.89 3,264.04 12,564.21 16,000.00 1,817.38 558.58 30,940.17 29,797.33 12,564.21 16,000.00 1,817.38 558.58 30,940.17 29,797.33 |
|---|---|
| Funds Unrestricted Restricted Total |
30,381.59 29,762.95 558.58 4.38 30,940.17 29,767.33 |
|---|---|
Note - St Julian's church is an inalienable asset. It has not been valued and is not included in the accounts. The church and contents are insured for £2,960,000.
Statement of Financial Activities (SOFA)
| Unrestricted | Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|
| General | Savings | Designated | 2023 | 2022 | ||||
| Incoming resources | ||||||||
| (Row numbers refer to the attached | notes) | |||||||
| 1-6 Voluntary Income | 15,153.32 | 0.00 | 0.00 | 0.00 | 15,153.32 | 12,926.98 | ||
| 7. Fund generating activites | 2,948.53 | 0.00 | 0.00 | 0.00 | 2,948.53 | 2,193.44 | ||
| 8. Investment Income | 921.72 | 0.00 | 0.00 | 0.00 | 921.72 | 337.95 | ||
| 9. Hall Hire | 9,984.25 | 0.00 | 0.00 | 0.00 | 9,984.25 | 9,403.50 | ||
| 10 Other trading | 49.90 | 0.00 | 898.22 | 0.00 | 948.12 | 1,047.92 | ||
| 11. Other Incoming resources | 400.00 | 0.00 | 0.00 | 2,372.19 | 2,772.19 | 1,012.87 | ||
| Total | 29,457.72 | 0.00 | 898.22 | 2,372.19 | 32,728.13 | 26,922.66 | ||
| Resources used | ||||||||
| 12. Cost of generating funds | 741.67 | 0.00 | 0.00 | 0.00 | 741.67 | 642.92 | ||
| Church Activities | ||||||||
| 13. Mission giving, donations | 1,825.05 | 0.00 | 0.00 | 0.00 | 1,825.05 | 2,170.52 | ||
| 14. Parish share | 11,820.00 | 0.00 | 0.00 | 0.00 | 11,820.00 | 9,900.00 | ||
| 16. Salaries, wages and Honora | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| 17. Clergy and staff expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Church Expenses | ||||||||
| 18. Mission and evangelism | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| 19. Church running expenses | 1,492.73 | 0.00 | 0.00 | 0.00 | 1,492.73 | 1,640.32 | ||
| 20. Church utility bills | 961.17 | 0.00 | 0.00 | 0.00 | 961.17 | 727.44 | ||
| 21. Cost of Trading | 11,611.95 | 0.00 | 709.67 | 1,817.99 | 14,139.61 | 8,744.20 | ||
| Major Capital Expenditure | ||||||||
| Major repairs to the church | 605.06 | 0.00 | 0.00 | 0.00 | 605.06 | 180.00 | ||
| Major repairs to the hall | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| New building | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Total | 29,057.63 | 0.00 | 709.67 | 1,817.99 | 31,585.29 | 24,005.40 | ||
| Transfers between funds | -4,000.00 | 4,000.00 | 0.00 | 0.00 | ||||
| Net movement of funds | -3,599.91 | 4,000.00 | 188.55 | 554.20 | 1,142.84 | 152.49 | ||
| Balance at start of year | 16,164.12 | 12,000.00 | 1,628.83 | 4.38 | 29,797.33 | 26,880.07 | ||
| Balance at end of year | 12,564.21 | 16,000.00 | 1,817.38 | 558.58 | 30,940.17 | 27,032.56 |
Page 9
Accounts 2023
St. Julian's Income and Expenditure for the year ended 31/12/23
----- Start of picture text -----
Unrestricted Restricted Total Total Unrestricted Total Total
General Savings Designated 2023 2022 General Savings Designated Restricted 2023 2022
Incoming resources Resources used
Voluntary Income Cost of generating funds
12 Cost of fund-raising activities 741.67 0.00 0.00 741.67 642.92
1 Gift-aided 9,249.26 0.00 0.00 9,249.26 8,551.55 Total 741.67 0.00 0.00 741.67 642.92
2 Tax recovered 1,917.91 0.00 0.00 1,917.91 1,768.41
3 Other Planned 0.00 0.00 0.00 0.00 813.82
4 Collections 214.33 0.00 0.00 214.33 0.00 Church Activities
5 Other Giving 3,771.82 0.00 0.00 3,771.82 1,793.20 13 Mission giving, donations 1,825.05 0.00 0.00 0.00 1,825.05 2,170.52
Total 15,153.32 0.00 0.00 0.00 15,153.32 12,926.98 14 Parish share 11,820.00 0.00 0.00 0.00 11,820.00 9,900.00
15 0.00 0.00
Activities for generating funds 16 Salaries, wages and Honoraria 0.00 0.00 0.00 0.00 0.00 0.00
7 Fairs and other fund-raising 2,948.53 0.00 0.00 2,948.53 2,193.44 17 Clergy and staff expenses 0.00 0.00 0.00 0.00 0.00 0.00
Total 13,645.05 0.00 0.00 13,645.05 12,070.52
Investment Income
8 Interest 921.72 0.00 0.00 921.72 337.95 Church expenses
18 Mission and evangelism 0.00 0.00 0.00
Trading 19 Church running expenses 1,492.73 0.00 0.00 0.00 1,492.73 1,640.32
9 Hall hire 9,984.25 0.00 0.00 0.00 9,984.25 9,403.50 20 Church utility bills 961.17 0.00 0.00 0.00 961.17 727.44
10 Other trading 49.90 0.00 898.22 0.00 948.12 1,047.92 21 Cost of Trading 11,611.95 0.00 709.67 1,817.99 14,139.61 8,744.20
Total 10,034.15 0.00 898.22 0.00 10,932.37 10,451.42 Total 14,065.85 0.00 709.67 1,817.99 16,593.51 11,111.96
Other Incoming Resources
11 Other Incoming Resources 400.00 0.00 0.00 2,372.19 2,772.19 1,012.87 Major Capital Expenditure
22 Major repairs to the church 605.06 0.00 0.00 0.00 605.06 180.00
23 Major repairs to the hall 0.00 0.00 0.00 0.00 0.00 0.00
24 New building 0.00 0.00 0.00 0.00 0.00 0.00
Total 605.06 0.00 0.00 605.06 180.00
Grand total 29,457.72 0.00 898.22 2,372.19 32,728.13 26,922.66
Grand total 29,057.63 0.00 709.67 1,817.99 31,585.29 24,005.40
SURPLUS/(LOSS) 400.09 0.00 188.55 554.20 1,142.84 2,917.26
----- End of picture text -----
Page 10
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PARISH OF ST STEPHEN'S WITH ST JULIAN'S ST ALBANS I report on th8 accounts of the PCC for tt* year ended 31 Dember 2023. which are Set out on pages 1 to 10 Rg¥pectiv• rnspon•lbllltl•s of tho mombor¥ of th• PCC and •xamln•r As members of the PCC. you are responSie for the preparation of Ihe accounts and consid8r that an audit is not required for this year under tion 144121 of the Charities A¢t 2011 Ithe 2011 Act) and that an Independent oxamination is needed. The PCC is prepanng accrued accounts and l am qualified to undertake the examination by being a qualified member of th• In$titule of charte Accountsnis of England and Wales IICAEW). It is my r•sponsibility to". examino th8 accounts und•r 10n 145 of th8 Charrt8 Act 2011,. to follow the procedures laid down in tho gener•1 Directions given by th• Chanty Commission under section 145151{bl of the 2011 k¢,. and 10 slate whethar particular matters have come to my attentson. 80•1• of Ind•p•nd•nt •x•mln•rf• v•port My examination was camed out In accordance with th• general directions given by the Charity Commi$8ion An examination indud•s • revMw of the accounting records kept by the charity and a compan8on of the accounts presented with those records. It also includes consid8ralion of any unusual rtems or di$¢lo$ure$ In the accounts, and s•¥king explanations from you as trustees concerning any such matt¢r8 The procedures undertaken do not provide •ll Ihe evidence that would be requirod in an audit and consequently no opinion Is given as to wheth•r the accounts present a 'In and fair view, and the report 15 limited to th0 matters Jet out in th8 stat•mnl below Ind•p•nd•nt •xim5n•rf• •tat•m•nt In connoclion with my examination. no mattef ha$ come to my attentson.. 11} whrch giv88 me reasonable ¢au8e to believe that in any matenal re8p#ct the requirements.. to keep accounting r•cord¥ in accordance with section 130 of the 2011 Act." or to preparo o¢¢ounts which accord wrth ¢h• •cUntsr r•cord8 havè not b••n mel.. or 121 to which, In my opinion, att&nlion should be drawn in order to enablo a proper understanding of the accounts to be reached. M¥tthew John8 MA FCA 41 Mount Drive Park Street St Albans AL2 2NP 19 May 2024
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans Statement of Financial Activities
For the year ending 31 December 2023
| Note INCOMING RESOURCES Voluntary Income 2a Activities for generating funds 2b Investment Income 2c Trading 2d Church Activities 2e Other incoming resources 2f TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds 3a Church Activities 3b Church Expenses 3c Major Capital Expenditure 3d Other Out-goings 3e TOTAL RESOURCES EXPENDED NET INCOMING/(OUTGOING) RESOURCES Transfer between funds NET MOVEMENT IN FUNDS BALANCES BROUGHT FORWARD AT 1 JANUARY 2023 BALANCES CARRIED FORWARD AT 31 DECEMBER 2023 |
Unrestricted Funds £ 91,431 3,348 33,862 34,814 11,974 191 175,621 385 104,893 69,498 7,262 1,830 183,868 (8,247) 0 (8,247) 226,803 218,556 |
Designated Funds £ 15,153 2,949 1,322 10,932 3,705 400 34,462 742 13,645 14,980 1,181 0 30,547 3,914 0 3,914 64,090 68,004 |
Restricted Funds £ 136,877 0 0 0 0 2,372 139,250 0 0 5,778 43,461 0 49,239 90,010 90,010 99,802 189,812 |
TOTAL 2023 £ 243,462 6,297 35,185 45,747 15,679 2,963 349,332 1,126 118,538 90,255 51,904 1,830 263,654 85,678 0 85,678 390,695 476,373 |
FUNDS 2022 £ 112,266 4,090 13,891 42,951 14,618 1,427 189,244 1,184 106,714 68,621 3,385 2,045 181,950 7,294 0 7,294 383,401 390,695 |
|---|---|---|---|---|---|
Note 1: See page 3 Notes 2: See page 5 Notes 3: See page 5
Page 1
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans
Balance Sheet at 31 December 2023
| Note FIXED ASSETS Tangible fixed assets 4 Investment assets CURRENT ASSETS 5 Stock Debtors 7 Short term deposits Cash at bank and in hand LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 8 NET CURRENT ASSETS NET ASSETS FUNDS 6 Unrestricted Designated Restricted |
2023 £ 750,000 0 - 6,785 336,332 153,850 496,967 (20,594) 476,373 1,226,373 968,556 68,005 189,812 1,226,373 |
2022 £ 750,000 0 - 5,717 347,204 50,610 403,532 (12,836) 390,695 1,140,695 976,803 64,091 99,802 1,140,695 |
|---|---|---|
Approved by the Parochial Church Council on March 12th 2024 and signed on its behalf by:
The notes following form part of these accounts
Page 2
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans Notes to the Financial Statements for the year ended 31/12/2023
1 Accounting Policies The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and the Charities Act 2011 together with applicable accounting standards and the SORP 2005
The financial statements have been prepared under the historical cost convention.
Funds
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. Restricted funds can only be used for the purposes specified by the giver.
Funds designated for the use of the St. Julian's DCC are shown separately as Designated. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members.
Incoming Resources: Voluntary income and capital sources
Collections are recognised when received by or on behalf of the PCC. Planned giving is recognised only when received. Income tax recoverable on donations is estimated monthly as a debt. This debt is written off when the payment is received. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.
Funds raised by the auction, summer fair and similar events are accounted for gross.
Other Income Income from investments There has been no investment income during the year.
Rental income from the letting of church premises is recognised when the rental is due.
Resources Used: Grants Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. Activities directly related to the work of the Church The diocesan parish share is accounted for as sums are paid. Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet.
Fixed Assets: Consecrated property and movable church furnishings Consecrated and beneficed property is excluded from the accounts by s.96(2) of the Charities Act 1993.
Inalienable Assets:
St. Julian's Church is dedicated and should be accounted for as inalianable property. However, it has not been valued and the cost of valuation is judged to be not worth the benefit obtained. For this reason it is not included in the accounts.
Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the church's Inventory which can be inspected (at any reasonable time). For inalienable property acquired prior to these accounts, there is insufficient cost information available and therefore no such assets are valued in these accounts.
All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £15,000 or on the repair of movable church furnishings is written off.
Other fixtures, fittings and office equipment
Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £15,000 or less are written off when the asset is acquired.
Investments
There are no investments held.
Current Assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. Short term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.
Page 3
Accounts 2023
St Stephen's with St. Julian's Parish reserves Policy
By law a charity is not allowed to hoard funds. The PCC has to justify the reserves that it holds. In this context, Reserves are the current assets less the restricted funds: i.e. those funds readily available for any eventuality.
We are required to state a minimum that it is prudent to hold and a maximum that we can justify.
1. Minimum Reserve
Any problems with cash flow may not be identified immediately as income and expenditure fluctuate from month to month. It is considered prudent to ensure that reserves are greater than six month's expenditure to allow three months to identify a problem and another three months for action to show results.
2. Maximum Reserve
Expenditure on exceptional items or Quinquennial items during the five years between inspections could credibly reach £100,000. The most that we can justifiably hold in excess of the miminum reserve would be this plus any planned projects.
3. 2022
For 2022 these policies become:
a) Half of 2023 expenditure = £ 106,292 Minimum Reserve Say £100,000 b) Possible projects: Organ Refurbishment 100,000.00 St.Stephens Tree removal/path repair 20,000.00 St. Julian's Vestry 5,000.00 St. Stephens Projection Equipment 25,000.00 St. Julian's Windows 35,000.00 St. Stephens Boundary Wall 20,000.00 St. Stephens Pulpit Repair 7,000.00 Total £212,000 The maximum reserve for 2023 is therefore £100,000 Exceptional/Quinquennial £100,000 Other £212,000 Maximun Reserve Total £412,000
These limits can be breached - it is merely that the PCC feel it is prudent to attempt to keep the reserves above the minimum and below the maximum.
At the end of 2023 the reserves were £218,556
Page 4
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans Notes to the Financial Statements
for the year ended 31/12/2023
- 2 Incoming Resources
----- Start of picture text -----
Unrestricted Designated Restricted Total 2023 Total 2022
2a Voluntary Income
Planned giving tax efficient 49,210.12 9,249.26 0.00 58,459.38 66,107.03
Gift Aid recovered 14,641.22 1,917.91 750.00 17,309.13 17,479.85
Other Planned giving 8,770.06 0.00 0.00 8,770.06 400.00
Collections 5,545.03 214.33 0.00 5,759.36 7,314.80
Grants 0.00 1,900.00 1,900.00 2,179.41
Legacies 1,000.00 128,581.00 129,581.00 0.00
Other giving 12,264.75 3,771.82 5,646.32 21,682.89 18,784.46
Total 91,431.18 15,153.32 136,877.32 243,461.82 112,265.55
2b Activities for generating funds
Fairs and other fund raising 3,348.15 2,948.53 0.00 6,296.68 4,090.35
Total 3,348.15 2,948.53 0.00 6,296.68 4,090.35
2c Investment income
Interest (gross) bank 11,062.40 1,322.36 0.00 12,384.76 4,391.32
Rent - 12 Tavistock Ave 22,800.00 0.00 22,800.00 9,500.00
Total 33,862.40 1,322.36 0.00 35,184.76 13,891.32
2d Trading
Hall hire 27,068.50 9,984.25 37,052.75 35,388.83
Magazine 1,408.67 1,408.67 1,702.58
Other 6,337.15 0.00 6,337.15 4,811.81
St. Julian's Trading 0 49.90 49.90 219.54
Community Café 0.00 898.22 0.00 898.22 828.38
Total 34,814.32 10,932.37 0.00 45,746.69 42,951.14
2e Church Activities
Fees - Weddings and funerals 11,974.00 11,974.00 10,817.25
Organ Fund 3,705.00 3,705.00 3,801.15
Total 11,974.00 3,705.00 0.00 15,679.00 14,618.40
2f Other Ordinary Income
Insurance claims 0 0.00 0
Other Income 190.87 400.00 2,372.19 2,963.06 1426.9
Total 190.87 400.00 2,372.19 2,963.06 1,426.90
Total of Incoming resources 175,620.92 34,461.58 139,249.51 349,332.01 189,243.66
----- End of picture text -----
3 Resources expended
| 3a Costs of generating funds Costs of fund-raising activities Total 3b Church Activities Mission giving, donations Parish share Salaries, wages and Honoraria Clergy and staff expenses Total 3c Church expenses Mission and evangelism Church running expenses Church utility bills Cost of Trading Community Café Total 3d Major Capital Expenditure Major repairs to the church Major repairs to the hall New building Total Sub-total for church activities& expe 3e Governance Other out-goings Total Transfers between funds Total of resources expended Surplus/loss |
Unrestricted Designated Restricted Total 2023 Total 2022 384.69 741.67 0.00 1,126.36 1,184.35 384.69 741.67 0.00 1,126.36 1,184.35 8,102.51 1,825.05 0.00 9,927.56 5,875.92 72,804.00 11,820.00 0.00 84,624.00 79,411.00 0.00 0.00 0.00 0.00 0.00 7,471.50 0.00 0.00 7,471.50 4,545.00 16515.26 0.00 0.00 16,515.26 16,882.39 104,893.27 13,645.05 0.00 118,538.32 106,714.31 1,167.19 0.00 800.00 1,967.19 411.80 35,161.89 1,696.73 1,560.00 38,418.62 31,989.84 19,057.70 961.17 1,600.00 21,618.87 12,199.41 14,110.72 11,611.95 1,817.99 27,540.66 23,590.88 709.67 709.67 429.23 69,497.50 14,979.52 5,777.99 90,255.01 68,621.16 7104.2 1,181.06 39,756.26 48,041.52 1754.89 157.95 0.00 3,705.00 3,862.95 1630.2 0 0.00 0.00 0 7,262.15 1,181.06 43,461.26 51,904.47 3,385.09 nses 182,037.61 30,547.30 49,239.25 261,824.16 179,904.91 0.00 0.00 0.00 1,830.28 1,830.28 2,044.77 183,867.89 30,547.30 49,239.25 263,654.44 181,949.68 0.00 0.00 0.00 0.00 0.00 183,867.89 30,547.30 49,239.25 263,654.44 181,949.68 (8,246.97) 3,914.28 90,010.26 85,677.57 7,293.98 |
|---|---|
Page 5
Accounts 2023
Parochial Church Council of St. Stephen's with St. Julian's, St. Albans Notes to the Financial Statements for the year ended 31/12/2023
| 4 Fixed Assets Investments |
Total Total Unrestricted Designated Restricted 2023 2022 750,000.00 0.00 750,000.00 750,000.00 0.00 0.00 0.00 |
|---|---|
The property owned at 12, Tavistock Avenue was valued at £240,000 in April 2002. Advice was received in Ju It is insured for £606,880
St. Stephen's church and hall are not required to be valued. However, they are insured for £11,590,000
St. Julian's Church is an inalianable asset. It has not been valued and so is not included. St. Julian's Church is insured for £2,960,000
| 5 Current Assets Stock Debtors Short term deposits Cash & Current account Liabilities Net Current assets Net assets 6 Funds Unrestricted Designated Restricted Total 7 Debtors and Prepayments Deposits not yet paid in Tax refund not yet received Total 8 Liabilities Accruals assigned fees not paid Cheques not yet cashed by Creditors Total |
0.00 0.00 6,678.13 106.87 0.00 6,785.00 5,717.16 102,733.18 43,787.14 189,811.96 336,332.28 347,204.32 127,969.02 25,880.70 0.00 153,849.72 50,610.03 (18,824.09) (1,769.89) (20,593.98) (12,836.06) 218,556.24 68,004.82 189,811.96 476,373.02 390,695.45 968,556.24 68,004.82 189,811.96 1,226,373.02 1,140,695.45 2023 2022 968,556.24 976,803.21 68,004.82 64,090.54 189,811.96 99,801.70 1,226,373.02 1,140,695.45 Unrestricted Designated Restricted 2023 2022 1361.33 106.87 0.00 1,468.20 1,746.70 5316.80 5,316.80 3,970.46 6,785.00 5,717.16 Unrestricted Designated 2023 2022 (1,212.53) (1,212.53) (1,133.00) (1,153.00) (1,153.00) (1,228.33) recipient (15,819.89) (1,769.89) (17,589.78) (9,532.67) (638.67) (638.67) (942.06) (18,824.09) (1,769.89) (20,593.98) (12,836.06) |
|---|---|
Page 6
Accounts 2023
BALANCE SHEET OF ST. STEPHEN'S
Balance sheet as at 31.12.23
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Unrestricted Designated Restricted Total Total
Funds Restoration 2023 2022
Notes
Fixed Assets
1 Tangible fixed assets 750,000.00 750,000.00 750,000.00
Investment assets 0.00 0.00 0.00
Current Assets
Stock 0.00 0.00
Debtors 6,678.13 6,678.13 5,717.16
Short term deposits 102,733.18 12,901.23 189,253.38 304,887.79 314,858.55
Cash & Current account 127,969.02 24,722.00 152,691.02 49,894.43
Liabilities (18,824.09) (18,824.09) (9,572.02)
Net Current assets 218,556.24 37,623.23 189,253.38 445,432.85 360,898.12
Net assets 968,556.24 37,623.23 189,253.38 1,195,432.85 1,110,898.12
Represented by Funds
Unrestricted 1,006,179 1,011,101
Restricted 189,253 99,797
Total 1,195,433 1,110,898
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- The property owned at 12, Tavistock Avenue was revalued in April 2002 An estimate of the current value was given in July 2022.
| Statement of Financial Activities | Statement of Financial Activities | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Total | Total | |||||||||
| Funds | Restoration | 2023 | 2022 | ||||||||||
| Incoming Resources | |||||||||||||
| 2 | Voluntary income | 91,431.18 | 136,877.32 | 228,308.50 | 99,338.57 | ||||||||
| 3 | Activities for generating funds | 3,348.15 | 0.00 | 3,348.15 | 1,896.91 | ||||||||
| 4 | Investment income | 33,862.40 | 400.64 | 0.00 | 34,263.04 | 13,553.37 | |||||||
| 5 | Trading | 34,814.32 | 0.00 | 0.00 | 34,814.32 | 32,499.72 | |||||||
| 6 | Church Activities | 11,974.00 | 3,705.00 | 0.00 | 15,679.00 | 14,618.40 | |||||||
| 7 | Other ordinary income | 190.87 | 0.00 | 190.87 | 414.03 | ||||||||
| Total | 175,620.92 | 4,105.64 | 136,877.32 | 316,603.88 | 162,321.00 | ||||||||
| From St. Julian's | 11,831.52 | 11,831.52 | 9,900.00 | ||||||||||
| Total incoming resources | 187,452.44 | 4,105.64 | 136,877.32 | 328,435.40 | 172,221.00 | ||||||||
| Resources used | |||||||||||||
| 8 | Cost of generating funds | 384.69 | 0.00 | 0.00 | 384.69 | 541.43 | |||||||
| 9 | Church Activities | 116,713.27 | 0.00 | 0.00 | 116,713.27 | 104,543.79 | |||||||
| 10 | Church Expenses | 69,509.02 | 204.00 | 3,960.00 | 73,673.02 | 57,509.20 | |||||||
| 11 | Major Capital Expenditure | 7,262.15 | 576.00 | 43,461.26 | 51,299.41 | 3,205.09 | |||||||
| Other out-goings | 1,830.28 | 0.00 | 1,830.28 | 2,044.77 | |||||||||
| Total | 195,699.41 | 780.00 | 47,421.26 | 243,900.67 | 167,844.28 | ||||||||
| transfer between funds Total |
0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| Surplus/deficit | (8,246.97) | 3,325.64 | 89,456.06 | 84,534.73 | 4,376.72 | ||||||||
| Balances | brought forward | ||||||||||||
| at January 1st 2023 | 226,803.21 | 34,297.59 | 99,797.32 | 360,898.12 | 356,521.40 | ||||||||
| Transfers between funds | |||||||||||||
| Balances carried forward | 218,556.24 | 37,623.23 | 189,253.38 | 445,432.85 | 360,898.12 | ||||||||
| at December 31st 2023 | balance | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Trading Summary | 2023 | 2022 | |||||||||||
| (Expenses/Purchases) | Income | surplus / (loss) | |||||||||||
| Magazine | 1,564.00 | 1,408.67 | - | 155 |
19 | ||||||||
| Hall | 425.15 | 27,068.50 | 26,643 | 24,905 | a | ||||||||
| Other (12 Tavistock Ave, lunch cl | 12,121.57 | 29,137.15 | 17,016 | 1,800 | |||||||||
| Total | 14,110.72 | 43,504 | 26,724 |
Notes: (a) Does not allow for Heat, Light and Insurance costs, nor any provision for cost of construction
Page 7
Accounts 2023
St. Stephen's Income and Expenditure
for the year ended 31/12/2023
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Notes to Incoming Resources 2023 2023 2023 2023 2022 Notes to Resources Used 2023 2023 2023 2023 2022
Unrestricted Designated Restricted Total Total Unrestricted Designated Restricted Total Total
2 Voluntary Income Restoration General Restoration
Planned giving tax efficient 49,210.12 49,210.12 57,555.48 8 Costs of generating income
Gift Aid recovered 14,641.22 750.00 15,391.22 15,711.44 Costs of fund-raising activities 384.69 384.69 541.43
Other Planned giving 8,770.06 8,770.06 400.00 Total 384.69 0.00 0.00 384.69 541.43
Collections 5,545.03 5,545.03 6,500.98
Grants 0.00 1,900.00 1,900.00 2,179.41 9 Church Activities
Legacies 1,000.00 128,581.0 129,581.00 0.00 Mission giving, donations 8,102.51 8,102.51 3,705.40
Other giving 12,264.75 5,646.32 17,911.07 16,991.26 Parish share 84,624.00 84,624.00 79,411.00
Total 91,431.18 136,877.32 228,308.50 99,338.57 0.00 0.00
Salaries, wages and Honoraria 7,471.50 7,471.50 4,545.00
3 Activities for generating funds Clergy and staff expenses 16,515.26 16,515.26 16,882.39
Fairs and other fund raising 3,348.15 3,348.15 1,896.91 Total 116,713.27 0.00 0.00 116,713.27 104,543.79
Total 3,348.15 0.00 0.00 3,348.15 1,896.91
10 Church expenses
4 Investment Income Mission and evangelism 1,167.19 800.00 1,967.19 411.80
Interest 11,062.40 400.64 11,463.04 4,053.37 Church running expenses 35,173.41 204.00 1,560.00 36,937.41 30,349.52
Rent 22,800.00 22,800.00 9,500.00 Church utility bills 19,057.70 1,600.00 20,657.70 11,471.97
Total 33,862.40 400.64 0.00 34,263.04 13,553.37 Cost of Trading 14,110.72 14,110.72 15,275.91
5 Trading Community Café 0.00 0.00
Hall hire 27,068.50 27,068.50 25,985.33 Total 69,509.02 204.00 3,960.00 73,673.02 57,509.20
Magazine 1,408.67 1,408.67 1,702.58
Other 6,337.15 6,337.15 4,811.81 11 Major Capital Expenditure
Community Café 0.00 0.00 Major repairs to the church 7,104.20 576.00 39,756.26 47,436.46 1,574.89
Total 34,814.32 0.00 0.00 34,814.32 32,499.72 Major repairs to the hall 157.95 3,705.00 3,862.95 1,630.20
New building 0.00 0.00 0.00
6 Church Activities Total 7,262.15 576.00 43,461.26 51,299.41 3,205.09
PCC wedding etc fees 11,974.00 11,974.00 10,817.25
organ fund 3,705.00 3,705.00 3,801.15
Total 11,974.00 3,705.00 0.00 15,679.00 14,618.40 Sub-total for church activities and expenses 193,869.13 780.00 47,421.26 242,070.39 165,799.51
0.00 0.00
Other out-goings 1,830.28 1,830.28 2,044.77
7 Other ordinary income
Insurance claims 0.00 0.00 0.00 Total 195,699.41 780.00 47,421.26 243,900.67 167,844.28
Other income 190.87 190.87 414.03
Total 190.87 0.00 190.87 414.03 transfer between accounts
Total Resources used 195,699.41 780.00 47,421.26 243,900.67 167,844.28
Grand Total 175,620.92 4,105.64 136,877.32 316,603.88 162,321.00
316,603.88 Surplus/(Loss) (8,246.97) 3,325.64 89,456.06 84,534.73 4,376.72
Contribution from St. Julian's towards joint costs
11,831.52 11,831.52 9,900.00
Transfers between funds
Total Incoming Resources 187,452.44 4,105.64 136,877.32 328,435.40 172,221.00
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Page 8
Accounts 2023
ST JULIAN'S CHURCH - BALANCE SHEET AND STATEMENT OF FINANCIAL ACTIVITIES
Balance sheet as at 31.12.23
| Fixed assets (see note) Current assets Stock Debtors Short term deposits Cash Current account Liabilities Net current assets Net assets |
Unrestricted Restricted Total Total General Savings Designated 2023 2022 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 106.87 0.00 0.00 0.00 106.87 0.00 13068.53 16000.00 1817.38 558.58 31,444.49 32,345.77 0.00 0.00 0.00 0.00 0.00 0.00 1158.70 0.00 0.00 0.00 1,158.70 715.60 1769.89 0.00 0.00 0.00 1,769.89 3,264.04 12,564.21 16,000.00 1,817.38 558.58 30,940.17 29,797.33 12,564.21 16,000.00 1,817.38 558.58 30,940.17 29,797.33 |
|---|---|
| Funds Unrestricted Restricted Total |
30,381.59 29,762.95 558.58 4.38 30,940.17 29,767.33 |
|---|---|
Note - St Julian's church is an inalienable asset. It has not been valued and is not included in the accounts. The church and contents are insured for £2,960,000.
Statement of Financial Activities (SOFA)
| Unrestricted | Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|
| General | Savings | Designated | 2023 | 2022 | ||||
| Incoming resources | ||||||||
| (Row numbers refer to the attached | notes) | |||||||
| 1-6 Voluntary Income | 15,153.32 | 0.00 | 0.00 | 0.00 | 15,153.32 | 12,926.98 | ||
| 7. Fund generating activites | 2,948.53 | 0.00 | 0.00 | 0.00 | 2,948.53 | 2,193.44 | ||
| 8. Investment Income | 921.72 | 0.00 | 0.00 | 0.00 | 921.72 | 337.95 | ||
| 9. Hall Hire | 9,984.25 | 0.00 | 0.00 | 0.00 | 9,984.25 | 9,403.50 | ||
| 10 Other trading | 49.90 | 0.00 | 898.22 | 0.00 | 948.12 | 1,047.92 | ||
| 11. Other Incoming resources | 400.00 | 0.00 | 0.00 | 2,372.19 | 2,772.19 | 1,012.87 | ||
| Total | 29,457.72 | 0.00 | 898.22 | 2,372.19 | 32,728.13 | 26,922.66 | ||
| Resources used | ||||||||
| 12. Cost of generating funds | 741.67 | 0.00 | 0.00 | 0.00 | 741.67 | 642.92 | ||
| Church Activities | ||||||||
| 13. Mission giving, donations | 1,825.05 | 0.00 | 0.00 | 0.00 | 1,825.05 | 2,170.52 | ||
| 14. Parish share | 11,820.00 | 0.00 | 0.00 | 0.00 | 11,820.00 | 9,900.00 | ||
| 16. Salaries, wages and Honora | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| 17. Clergy and staff expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Church Expenses | ||||||||
| 18. Mission and evangelism | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| 19. Church running expenses | 1,492.73 | 0.00 | 0.00 | 0.00 | 1,492.73 | 1,640.32 | ||
| 20. Church utility bills | 961.17 | 0.00 | 0.00 | 0.00 | 961.17 | 727.44 | ||
| 21. Cost of Trading | 11,611.95 | 0.00 | 709.67 | 1,817.99 | 14,139.61 | 8,744.20 | ||
| Major Capital Expenditure | ||||||||
| Major repairs to the church | 605.06 | 0.00 | 0.00 | 0.00 | 605.06 | 180.00 | ||
| Major repairs to the hall | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| New building | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Total | 29,057.63 | 0.00 | 709.67 | 1,817.99 | 31,585.29 | 24,005.40 | ||
| Transfers between funds | -4,000.00 | 4,000.00 | 0.00 | 0.00 | ||||
| Net movement of funds | -3,599.91 | 4,000.00 | 188.55 | 554.20 | 1,142.84 | 152.49 | ||
| Balance at start of year | 16,164.12 | 12,000.00 | 1,628.83 | 4.38 | 29,797.33 | 26,880.07 | ||
| Balance at end of year | 12,564.21 | 16,000.00 | 1,817.38 | 558.58 | 30,940.17 | 27,032.56 |
Page 9
Accounts 2023
St. Julian's Income and Expenditure for the year ended 31/12/23
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Unrestricted Restricted Total Total Unrestricted Total Total
General Savings Designated 2023 2022 General Savings Designated Restricted 2023 2022
Incoming resources Resources used
Voluntary Income Cost of generating funds
12 Cost of fund-raising activities 741.67 0.00 0.00 741.67 642.92
1 Gift-aided 9,249.26 0.00 0.00 9,249.26 8,551.55 Total 741.67 0.00 0.00 741.67 642.92
2 Tax recovered 1,917.91 0.00 0.00 1,917.91 1,768.41
3 Other Planned 0.00 0.00 0.00 0.00 813.82
4 Collections 214.33 0.00 0.00 214.33 0.00 Church Activities
5 Other Giving 3,771.82 0.00 0.00 3,771.82 1,793.20 13 Mission giving, donations 1,825.05 0.00 0.00 0.00 1,825.05 2,170.52
Total 15,153.32 0.00 0.00 0.00 15,153.32 12,926.98 14 Parish share 11,820.00 0.00 0.00 0.00 11,820.00 9,900.00
15 0.00 0.00
Activities for generating funds 16 Salaries, wages and Honoraria 0.00 0.00 0.00 0.00 0.00 0.00
7 Fairs and other fund-raising 2,948.53 0.00 0.00 2,948.53 2,193.44 17 Clergy and staff expenses 0.00 0.00 0.00 0.00 0.00 0.00
Total 13,645.05 0.00 0.00 13,645.05 12,070.52
Investment Income
8 Interest 921.72 0.00 0.00 921.72 337.95 Church expenses
18 Mission and evangelism 0.00 0.00 0.00
Trading 19 Church running expenses 1,492.73 0.00 0.00 0.00 1,492.73 1,640.32
9 Hall hire 9,984.25 0.00 0.00 0.00 9,984.25 9,403.50 20 Church utility bills 961.17 0.00 0.00 0.00 961.17 727.44
10 Other trading 49.90 0.00 898.22 0.00 948.12 1,047.92 21 Cost of Trading 11,611.95 0.00 709.67 1,817.99 14,139.61 8,744.20
Total 10,034.15 0.00 898.22 0.00 10,932.37 10,451.42 Total 14,065.85 0.00 709.67 1,817.99 16,593.51 11,111.96
Other Incoming Resources
11 Other Incoming Resources 400.00 0.00 0.00 2,372.19 2,772.19 1,012.87 Major Capital Expenditure
22 Major repairs to the church 605.06 0.00 0.00 0.00 605.06 180.00
23 Major repairs to the hall 0.00 0.00 0.00 0.00 0.00 0.00
24 New building 0.00 0.00 0.00 0.00 0.00 0.00
Total 605.06 0.00 0.00 605.06 180.00
Grand total 29,457.72 0.00 898.22 2,372.19 32,728.13 26,922.66
Grand total 29,057.63 0.00 709.67 1,817.99 31,585.29 24,005.40
SURPLUS/(LOSS) 400.09 0.00 188.55 554.20 1,142.84 2,917.26
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