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← The Parochial Church Council Of The Ecclesiastical Parish Of St. Mary The Virgin, Monken Hadley

2023-12-31-accounts

TRUSTEES ANNUAL REPORT

for the

2024 Annual Parochial Church Meetng of the Parish Church of St Mary the Virgin, Monken Hadley

Notes

Secton A
Secton B
Secton C
Secton D
Secton E
Secton F
Secton G		 Reference and Administraton Details
Structure, governance and Management
Objectves and Actvites
Achievements and Performances
Financial Review
Optonal informaton
Trustee Declaratons

Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year From 01 01 2023 To 31 12 2023

Secton A Reference and administraton details

The Parochial Church Council of the Ecclesiastical Parish of Charity name St Mary the Virgin, Monken Hadley Other names charity is known by The PCC of Monken Hadley Registered charity number (if any) 1131428

Charity's principal address The Rectory (eg. Address of the church or church Hadley Common office) Barnet, Hertfordshire Postcode EN5 5QD

Names of the charity trustees – Members of the PCC - who manage the charity, as of 31[st] December 2023

Trustee name Ofce (if any) Dates acted if not for whole year Honorary Chair and Deanery Synod From 30 April (Chair) 1[John Gillman] Representative 2 Barbara Taylor Churchwarden 3 Michael Yorke Churchwarden from 30 April 4 Kofi Ofori-Quaah Deanery Synod Representative 5 Rebecca Bryant Honorary Secretary from 24 May 6 Tricia Narracott-Wales 7 Revd Adele Burgess co-opted 8 Alden McCray 9 Elaine Padmore 10 Duncan Paulson 11 Freddie Roe from 30 April 12 Angela Hawes from 30 April 13 Jason Amiss from 30 April 14 15 16 17 18 19 20 Name of Chairman of the PCC (Optonal informaton)

John Gillman

Secton B Structure, governance and management

Descripton of the charity’s trusts

Type of governing document Parochial Church Council Powers Measure (1956) as amended, and Church (eg. trust deed, constitution) Representation Rules that came into effect on 2 January 1957, as amended

Type of governing document

How the charity is constituted (eg. trust, association, company)[Church Representation Rules]

Trustee selection methods

Trustee selection methods The appointment of PCC members is governed by and set out in the Church (eg. appointed by, elected by) Representation Rules. The parish’s clergy, churchwardens and Synod members are ex officio members of the PCC. At present up to ten additional members are elected (following a resolution at the 2014 Annual Parochial Church meeting).

Public Beneft Statement (Mandatory informaton)

The trustees of the Charity are aware of the Charity Commission’s guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the Charity. The parish's safeguarding policies and practice for the protection of vulnerable people in the church community is in line with the House of Bishops' guidance.

Summary of the main actvites undertaken for the public beneft in relaton to these objects (include within this secton the statutory declaraton that trustees have had regard to the guidance issued by the Charity Commission on public beneft)

The trustees believe that, by promoting the work of the Church of England in the Ecclesiastical Parish of St Mary the Virgin, Monken Hadley, it helps to promote the whole mission of the Church (pastoral, evangelistic, social and ecumenical) more effectively, within the Ecclesiastical Parish, and that in doing so it provides a benefit to the public by:

Additonal governance issues (Optonal informaton)

You may choose to include additional information, where relevant, about:

Secton C Objectves and actvites

Summary of the objects of the charity set out in its governing document

The Parochial Church Council of Monken Hadley (PCC) has the responsibility, in the current absence of an incumbent, for promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social, and ecumenical. The PCC is also specifically responsible for the maintenance of the Church complex of St Mary the Virgin, Monken Hadley.

The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St Mary the Virgin, Monken Hadley. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

Additonal details of objectves and actvites (Optonal informaton)

The parish church of Monken Hadley both serves its members (who do not all live inside the ecclesiastical parish) and the local community. Long-standing activities in the latter category are our involvement with a linked primary school and a tradition of bell ringing. We also organise social events that are geared You may choose to include further towards establishing and deepening links with non-churchgoing members of the statements, where relevant, about: community, thus contributing to community cohesion.

policy on grantmaking; Our investment policy is to generate income rather than capital gain, with funds  either held in cash or on deposit with a highly-diversified portfolio fund policy programme related containing a well-balanced spread of investments that is managed in investment; accordance with the guidance of the Church of England’s Ethical Investment  contribution made by Advisory Group. This portfolio is invested mainly in equities but will also include volunteers; fixed interest securities, property and other assets The Rector (position currently vacant) receives a stipend to which the PCC contributed via the London Diocesan Common Fund. The PCC pays for the services of the choir master and occasionally for an additional organist. All other contributions are made by volunteers.

Secton D Achievements and performance

The previous incumbent left his position at the end of July 2023 and arrangements are in hand to recruit a replacement. This has included the creation of a Parish Profile, informed by the results of a survey of the congregation regarding the needs of the Parish. During the Interregnum the Church’s range of activities are necessarily reduced, but still include a weekly evening prayer meeting and regular Bible study. These gatherings are for the present held in private homes, pending the availability of suitable Church accommodation (see below).

Parish church activities include in particular the Sunday School, now renamed Sunday Club, which has a weekly average attendance of about ten children. The homebound are served by a brief fortnightly mid-week service on Zoom.

The church continues to be opened and closed daily for private prayer, thanks to the efforts of local church members.

Summary of the main achievements of the charity during the year

Other achievements during the year include

 The recruitment of four new Trustees (PCC members)  The engagement of visiting clergy on a regular basis to cover morning and evening services, meaning that it has not been necessary to cancel or amend any planned acts of worship during the Interregnum.  The appointment of Adele Burgess as Anchor Priest during the Interregnum. Adele Burgess has supported the delivery of weekly services, Sunday Club and pastoral care in the Parish.  Refurbishment of the Rectory interior in preparation for the arrival of a new incumbent.  The continuation of our singing group for primary school age children on Friday afternoons.  Commissioning of a structural survey of our community hall (Church House), which revealed a number of serious issues obliging us to close the building permanently to all users. We are actively exploring options for the redevelopment of the building, in consultation with technical experts and the local planning authorities. Further fundraising events and activities are planned for 2024.

Secton D Achievements and performance (contd.)

Our priorities for the year ahead are:

Summary of the main objectves of the charity planned in the following year

Secton E Financial review

Review of the charity’s fnancial The financial performance in the year ended 31 December 2023 has again been positon at the end of the reportng heavily influenced by challenging economic times in the United Kingdom. period Uncertainty over employment, inflation and the health of the economy has made Church fundraising and cost management a continued challenge. Additionally the departure of our Rector in March and the ensuing Interregnum has impacted the Church’s financial performance.

Overall financial performance highlights are:

In 2023 the Church raised £140,282 in income and spent £129,711 generating an Overall net income (Revenue less costs) at £10,571. This was just under £44,000 lower than 2022 and performance is summarised in the table below.

Church ongoing actvites
Sir Justnian Pagit donaton
Church House
Church House Restoraton
Overall net income		 2023
2022
2021
£
£
£
(10,934)
(452)
525
11,500
0
5000
1,827
(2002)
1,799
8,178
57,252
110,886		 2023
2022
2021
£
£
£
(10,934)
(452)
525
11,500
0
5000
1,827
(2002)
1,799
8,178
57,252
110,886		 2023
2022
2021
£
£
£
(10,934)
(452)
525
11,500
0
5000
1,827
(2002)
1,799
8,178
57,252
110,886
£10,571 £54,798 £118,210

Church ongoing activities represents the main “day to day” activity and includes planned giving, church collections, legacies and fundraising events offset by the cost of running the Church and ongoing maintenance of the fabric of the Church building.

Informaton about the charity’s
reserves
Uncertaintes about the charity’s
ability to contnue as a going
concern
Details of any funds materially in
defcit		 The loss in 2023 is primarily caused by the loss of Lecturing fees donated to the
Church, reduced CAF bank giving (£14,270) and higher costs arising from
increased contributon to the London Diocesan Fund, some major one-of
maintenance costs specifcally Boiler repairs (£2,450), Tower Clock
Refurbishment (£5,129), and Church Gutering (£1,130). General infatonary
pressures also added to the increases.
Stewardship Planned Giving contributons fell by a litle over £4,000 as the
number of regular givers contnues to fall.
The Sir Justinian Pagitt Charity (trustee of the Gate House) donaton of £11,500
to the Church in the year (Nil -2022) refects a full year of rental revenue and
lower refurbishment expenditure which has rebuilt its reserves to pre-COVID
levels. The donaton is in line with the Charity’s reserves policy.
Despite closure, directly generated Church House income increased by £5,000
mainly from higher income from CAF bank deposits held here and cost
management. Revenue was minimal given the closure of the building in July
because of subsidence concerns.
Church House Restoration income fell by just over £52,000 refectng lower
donatons from Grant bodies and reduced fundraising event actvity in the year.
This was in part due to the closure of the building because of subsidence
concerns and health and safety advice. Costs were lower refectng lower fund
raising expenditure ofset by survey and architect’s costs in preparaton for a
new planning applicaton.
Church Reserves as at 31 December 2023 grew to £428,647(2022 - £418,077)
of which £236,800 (54%) were held in Unrestricted Funds. Restricted reserves
totalled £191,848 of which 84% relates to Church House Restoraton and 10%
to the Bells and Clocktower fund.
£395,367 of reserves are held either in cash or investment funds. 86% of
overall reserves are held in cash/deposits with a further 8% held with the COIF
Charites Investment Fund.
No uncertaintes identfed in terms of the Charity’s ability to contnue as a
going concern.
None

Further financial review details (Optional information)

We raise income from a number of sources.

You may choose to include additional information, where relevant about:

The vast majority of Church income derives from planned giving, including the tax recovered under Gift Aid. Other sources include donations through the envelope scheme (another source of tax efficient giving), collections at services, legacies, statutory fees, and various fundraising activities. We promote “GiveTap” giving using QR codes and electronic card readers for events.

Secton F Other optonal informaton

Acknowledge any large Grants or donaton in this Secton.

Acknowledging a large Grant in your TAR may be a conditon of acceptance

Secton G Declaratons

The trustees declare that no exemptons from disclosure are applicable.

The trustees declare that the charity holds no funds as custodian trustee on behalf of others.

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

----- Start of picture text -----
Signature(s)
Full name(s)
Positon
(eg Secretary, Chair, etc)
Date
(eg. Date of the APCM)
----- End of picture text -----

yiirtiicr Un restricted Restiict&cl TOTAL TOTAL
details Funds Funds 2023 2022
£ £ £ £
Income and endowments from:
Donations and legacies 2a 85,411 85,411 78,022
Charitsble activities 2b 5,845 5,845 5,989
Other trading activities 2c 5,247 5,247 2,774
Investments 2d 6,634 6,634 1,142
Cluirch House Restoration Fundraising 2e 11,886 11,886 64,477
Other 2f 24,403 856 25,259 16,033
Total 139,426 856 140,282 168,43()
Expenditure on;
Raising funds 3a 895 895 1,051
Charitable acliviles 3b 111,147 5,374 116,521 103,066
Church House Restoj'sUon expenditure 3c 9,004 9,004 7,225
Other 3d 3,290 3,290 2,295
Total 124,337 5,374 129,711 113»639
Ne<'income/(expen(liiure) 15,OS9 (4,518) 10,571 5-1,797
Transfers between funds il
Net movement in funds 15,089 (^,518) 10,571 54,797
Reconciliation of funds
Total funds brought forward 11 220,854 197,223 418,077 363,279
Totai funds carried forward II 235,943 ] 92,705 428,648 418,076

2 Income and endowments from: linrcstnctcd Restricted TOTAL TOTAL
Funds Funds 2023 2032
£ £ £ £
2a DonaUons and legacies
Planned Giviny:
Under GiH Aid 41,393 41,393 45,641
Tax recoverable 10,799 10,799 10,733
Legacies 5,021 5.021
57,213 57.213 56,374
Collections 4,922 4,922 2,819
Other donations 19,727 E 9,727 16.320
Tax Rccovcrabtc 3,549 3,549 2,508
S5,4J1 8S,4H 78,022
2b Charitable activite-s
P.C.C. Fees 5,d80 5,680 5,439
Church magazine 165 165 550
~J,87S ~JJ4S -5,989
2c Other trsding activilies
Fairs, concerts & other fund-raising events 5,247 5,247 2,774
5047 5,247 2,774
2d Investments
Interest (gross) 6,634 6,63^ 1,142
6,634 6,634 1,142
2c Church House Restoration Fundrftising
Income 10,169 10,169 59,142
Tax Recoverable; !,7i7 1,717 5.335
n,8S6 U,886 64,477
2f Other
Sir Justinian Pagilt income 11,500 11,500
Churchyard maintenance rctov&rics 4,875 4,875 4,500
Church Buiiding recoveries 1,411 1,411 730
Cliurch House Income 5,li7 5,117 203
Open Church Music Fund 856 856
Other 1,500 1,500 10.600
24^03 ft56 25,259 16,033
Total Incoming Resources 139,426 856 S40,282 168.436

3 Expenditure; Notea Unrestricted Restricted TOTAL TOTAL
Funds Funds 2023 2022
f. £ t /
3t> Raising funds
Cosls ofSociai and fund-raising events 895 895 1.051
895 89S l,0lil
3b Charitable fldivitia
Ministry: Dioc&san parish share 73,715 73,7)5 7 i ,568
Other ministry costs 1,991 1,991 1.215
Church - running expenses 4/)39 35 4,074 4.216
Insurance 3,229 3,229 2.946
Ctiurch buildings incl. fumishings 8,898 5,339 14:238 4,530
Upkeep of churcliyard 6,175 6>t75 7,000
Music; Organjst 5,9'15 5,9'15 5,387
Organ Mid piano maintenance 1,223 1,223 1,444
Altar and services 542 54X 595
PCC fees payable 2,440 2,440 1,372
Printing, stationer)', lclcphon& dc. 1,699 1,699 l/i83
fndqicndcnl KxamincTS' fees 1,250 1,250 1,HO
in,i47 5,374 If6,52l 103,066
3c Church House Restoration expcntlityrc 9,004 9,004 7,225
9,604 9^04 7,225
3d Other
Stewardship costs
Open Church Music Fund expense t)0
Church House cxpendilurc 3,290 3,290 2,265
3,290 3.290 2,2ys
Total Resources Expended 124,337 S,3?4 129,711 H 3.638

5 FIXED ASSETS 2023 2022
£ £
Tlie PCC has no tangible or other fixed assets
6 DEBTORS
Gift Aid tax recoverable 15,508 37,065
Other debtors and prepaymcnts 25,693 32,689
41,202 69,7SS
7 INVESTMENTS
Church House investments with COIF Charities Investment Fund
at market value 34,103 31,230
34,103 -3T,230
8 LIABILITIES; AMOUNTS FALLING DUE WITHIN ONE YEAR
Creditors and accruals (7,922) (12,688)
(7,922) (12,688)

Church
Unrcsimicti Funds Gcncrft) Itouae Church Ctiofr Church Rcttory Hector'.-! Church Totaf
Funds Hcslorotion House Fund Fabric Repairs Disc Ooikr Unrcttrictcti
Fund Fu nil Fund Fund Fundi
i t JE JE je x JE £ £
lncomin&nisourccs 123,947 10,169 5.117 1.050 ).(0,Z82
Kcsuurec-s cxpenttixi (H)2.d47) (*.>.«!)->) t.t.21?!)) <m) (/j.«,S.i) (;if>{{) a.W) (?UJJ7)
Net Incoming Resources
Ix'forc transfers 21.299 1,165 1,827 856 {(>,E)fi-!) «>d^ f?.,W>)
Tnuis&K between funils lK>.9.t7} 8>4t3 6.08'i 2,<t49
fitt movcmctib is funds 4.353 9.578 1.827 856 (60 i )5.<M6
Balances brought forward 37.747 110.^92 43.144 935 15,000 3,570 167 10.000 220,8'M
BslflBccs carried ronmrd 42.100 119,870 44,971 1,791 15,000 2,902 167 10,000 236,800
Cburcli
lib Restricted Funds Poor of House Lighting Bells iSc Towef Memorial Linen MA Church iM(moria) Total
tht Parish Restoration Fund Clock Fund Wait Needle. Guide Book Rutrickd
Fund Fund Fynii work Fund Fund Funds
£££££ £££ £
Incoming rcsoureis
Resources expended (210) (3,12V)
(35.)
(5371}
Ntt Incoming Resources
before Ira nsfcrs (21») (5,!29)
(35.1
t?-3"-l}
Tmnsfcrs between funds
Net movcmeats In funds C'iill l.!2'?) - (3?1 - - - (?,J7.)»
Balances brought fanvard 1.69-i 162,785 2.184 23,0_20, .J37 4,562 288 t(M 2,449 l?7-221
Bafanm catried fonvfini 1.694 1(2,765 1,97^ 17,89t f37 4,527 288 104 2.449
191.848

yiirtiicr Un restricted Restiict&cl TOTAL TOTAL
details Funds Funds 2023 2022
£ £ £ £
Income and endowments from:
Donations and legacies 2a 85,411 85,411 78,022
Charitsble activities 2b 5,845 5,845 5,989
Other trading activities 2c 5,247 5,247 2,774
Investments 2d 6,634 6,634 1,142
Cluirch House Restoration Fundraising 2e 11,886 11,886 64,477
Other 2f 24,403 856 25,259 16,033
Total 139,426 856 140,282 168,43()
Expenditure on;
Raising funds 3a 895 895 1,051
Charitable acliviles 3b 111,147 5,374 116,521 103,066
Church House Restoj'sUon expenditure 3c 9,004 9,004 7,225
Other 3d 3,290 3,290 2,295
Total 124,337 5,374 129,711 113»639
Ne<'income/(expen(liiure) 15,OS9 (4,518) 10,571 5-1,797
Transfers between funds il
Net movement in funds 15,089 (^,518) 10,571 54,797
Reconciliation of funds
Total funds brought forward 11 220,854 197,223 418,077 363,279
Totai funds carried forward II 235,943 ] 92,705 428,648 418,076

2 Income and endowments from: linrcstnctcd Restricted TOTAL TOTAL
Funds Funds 2023 2032
£ £ £ £
2a DonaUons and legacies
Planned Giviny:
Under GiH Aid 41,393 41,393 45,641
Tax recoverable 10,799 10,799 10,733
Legacies 5,021 5.021
57,213 57.213 56,374
Collections 4,922 4,922 2,819
Other donations 19,727 E 9,727 16.320
Tax Rccovcrabtc 3,549 3,549 2,508
S5,4J1 8S,4H 78,022
2b Charitable activite-s
P.C.C. Fees 5,d80 5,680 5,439
Church magazine 165 165 550
~J,87S ~JJ4S -5,989
2c Other trsding activilies
Fairs, concerts & other fund-raising events 5,247 5,247 2,774
5047 5,247 2,774
2d Investments
Interest (gross) 6,634 6,63^ 1,142
6,634 6,634 1,142
2c Church House Restoration Fundrftising
Income 10,169 10,169 59,142
Tax Recoverable; !,7i7 1,717 5.335
n,8S6 U,886 64,477
2f Other
Sir Justinian Pagilt income 11,500 11,500
Churchyard maintenance rctov&rics 4,875 4,875 4,500
Church Buiiding recoveries 1,411 1,411 730
Cliurch House Income 5,li7 5,117 203
Open Church Music Fund 856 856
Other 1,500 1,500 10.600
24^03 ft56 25,259 16,033
Total Incoming Resources 139,426 856 S40,282 168.436

3 Expenditure; Notea Unrestricted Restricted TOTAL TOTAL
Funds Funds 2023 2022
f. £ t /
3t> Raising funds
Cosls ofSociai and fund-raising events 895 895 1.051
895 89S l,0lil
3b Charitable fldivitia
Ministry: Dioc&san parish share 73,715 73,7)5 7 i ,568
Other ministry costs 1,991 1,991 1.215
Church - running expenses 4/)39 35 4,074 4.216
Insurance 3,229 3,229 2.946
Ctiurch buildings incl. fumishings 8,898 5,339 14:238 4,530
Upkeep of churcliyard 6,175 6>t75 7,000
Music; Organjst 5,9'15 5,9'15 5,387
Organ Mid piano maintenance 1,223 1,223 1,444
Altar and services 542 54X 595
PCC fees payable 2,440 2,440 1,372
Printing, stationer)', lclcphon& dc. 1,699 1,699 l/i83
fndqicndcnl KxamincTS' fees 1,250 1,250 1,HO
in,i47 5,374 If6,52l 103,066
3c Church House Restoration expcntlityrc 9,004 9,004 7,225
9,604 9^04 7,225
3d Other
Stewardship costs
Open Church Music Fund expense t)0
Church House cxpendilurc 3,290 3,290 2,265
3,290 3.290 2,2ys
Total Resources Expended 124,337 S,3?4 129,711 H 3.638

5 FIXED ASSETS 2023 2022
£ £
Tlie PCC has no tangible or other fixed assets
6 DEBTORS
Gift Aid tax recoverable 15,508 37,065
Other debtors and prepaymcnts 25,693 32,689
41,202 69,7SS
7 INVESTMENTS
Church House investments with COIF Charities Investment Fund
at market value 34,103 31,230
34,103 -3T,230
8 LIABILITIES; AMOUNTS FALLING DUE WITHIN ONE YEAR
Creditors and accruals (7,922) (12,688)
(7,922) (12,688)

Church
Unrcsimicti Funds Gcncrft) Itouae Church Ctiofr Church Rcttory Hector'.-! Church Totaf
Funds Hcslorotion House Fund Fabric Repairs Disc Ooikr Unrcttrictcti
Fund Fu nil Fund Fund Fundi
i t JE JE je x JE £ £
lncomin&nisourccs 123,947 10,169 5.117 1.050 ).(0,Z82
Kcsuurec-s cxpenttixi (H)2.d47) (*.>.«!)->) t.t.21?!)) <m) (/j.«,S.i) (;if>{{) a.W) (?UJJ7)
Net Incoming Resources
Ix'forc transfers 21.299 1,165 1,827 856 {(>,E)fi-!) «>d^ f?.,W>)
Tnuis&K between funils lK>.9.t7} 8>4t3 6.08'i 2,<t49
fitt movcmctib is funds 4.353 9.578 1.827 856 (60 i )5.<M6
Balances brought forward 37.747 110.^92 43.144 935 15,000 3,570 167 10.000 220,8'M
BslflBccs carried ronmrd 42.100 119,870 44,971 1,791 15,000 2,902 167 10,000 236,800
Cburcli
lib Restricted Funds Poor of House Lighting Bells iSc Towef Memorial Linen MA Church iM(moria) Total
tht Parish Restoration Fund Clock Fund Wait Needle. Guide Book Rutrickd
Fund Fund Fynii work Fund Fund Funds
£££££ £££ £
Incoming rcsoureis
Resources expended (210) (3,12V)
(35.)
(5371}
Ntt Incoming Resources
before Ira nsfcrs (21») (5,!29)
(35.1
t?-3"-l}
Tmnsfcrs between funds
Net movcmeats In funds C'iill l.!2'?) - (3?1 - - - (?,J7.)»
Balances brought fanvard 1.69-i 162,785 2.184 23,0_20, .J37 4,562 288 t(M 2,449 l?7-221
Bafanm catried fonvfini 1.694 1(2,765 1,97^ 17,89t f37 4,527 288 104 2.449
191.848