TRUSTEES ANNUAL REPORT for the 2024 Annual Parochial Church Meeting of the Parish Church of St Mary the Virgin, Monken Hadley Notes The Church Representation Rules (Rule 9 (11(b)) require 'an annual report on the proceedings of the parochial church council and the activities of the parish generallw to be received by the Annual Parochial Church Meeting {APCMI. The Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) requires a Trustees, Annual Report. See http:/1wv.Charrtys0rp.orlMedIaI6I9IoI/frsIo2 complete.pdf. Attached to this form are our Annual Accounts and Financial Statements. Section A Reference and Administration Detai15 Section B Structure, governance and Management Section C Objectives and Activities Section D Achievements and Performances Section E Financial Revtew Section F Optional Information Section G Trustee Declarations
Trustees, Annual Report for the period Period start date Period end date From oi oi 2024 31 12 2024 Section A Reference and administration details Charity name The Parochial Church Council of the Ecclesiastical Parish of 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 leg. Address of the church or church office) The Rectory Hadley Common Barnet, Hertfordshire Postcode EN5 5QD Names of the charity trustees- Members of the PCC- who manage the charity, as of 31° December 2024 Trustee name Offlce lif anyl Dates acted if not for whole year John Gillman Honorary Chair and Deanery Synod Representative Churchwarden Barbara Taylor Michael Yorke Churchwarden Kofi Ofori-Quaah Deanery Synod Representative Rebecca Bryant Tricia Narracott-wales Honorary Secretary co-opted Revd Adele Burgess Alden Mccray Elaine Padmore io Duncan Paulson li Freddie Roe 12 Angela Hawes Ja50n Amiss 13 14 15 16 17 18 19 20 Name of Chairman of the PCC (Optional information) John Gillman
Section B Structure, governance and management Description of the charitvs trusts Type of governing document leg. trust deed, constitution) Parochial Church Council Powers Measure 119561 as amended. and Church Representation Rules that came into effect on 2 January 1957, as amended How the charity is constituted {eg. trust. association, company) Church Representation Rules Trustee selection methods {eg. appointed by. elected by) The appointment of PCC members is governed by and set out in the Church 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 meetingl- Public Benefit Statement (Mandatory information) The trustees of the Charity are aware of the Charity Commission's guidance on public benefit in TheAdvancement of Religionforthe Public Benefitand 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 Bishop5' guidance. 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 Ipastoral, evangelistic, social and ecumenical) more effectively, within the Ecclesiastical Parish, and that in doing so it provides a benefit to the public by: Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers; and Promoting Christian faith, hope and love which finds expression in Christian service by members of the Church in and to theircommunities, to the benefit of individuals and society as a whole- and Maintaining the fabric of the Church of St Mary the Virgin, Monken Hadley la Grade Il* listed building) and rebuilding Church House, a community facility within the Monken Hadley conservation area Summary of the main activitie5 undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit) Additional governance issues {Optional information)
You may choose to include additional information, where relevant, about: Members of the Parochial Church Council of the Ecclesiastical Parish of St Mary the Virgin, Monken Hadley are also ex officio trustees of the Sirjustinian Pagitt Ecclesiastical Charity. St Mary the Virgin, Monken Hadley belongs to the Central Barnet deanery of the Diocese of London and is a member of Churches Together in Chipping Barnet. The treasurer is Tim Fitzpatrick, a member of the church but not of the Parochial Church Council. policies and procedures adopted for the induction and training of trustees; the charitvs orga nisational structure and any wider network with which the charity works- relationship with any related parties- trustees, consideration of major risks and the system and procedures to manage them; (Put your Risk Assessment Policy here) The architect for our current quinquennial inspection is Michael Poteliakhoff RIBA AABC of Gerald Shenstone and Partners. St. Paul's Institute, 302 The Highway, London EIW 3DH. Our independent examiners are Keelings & Jones Hunt Ltd. Chartered Accountants, Broad House, l The Broadway, Old Hatfield, Hertfordshire, AL9 5BG. Section C Objectives and activities The Parochial Church Council of Monken Hadley IPCC) 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 and related buildings of St Mary the Virgin, Monken Hadley. The PCC is committed to enabling as many peopSe 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. Summary of the objects of the charity set out in its governing document Additional details of objertives and activities (Optional Infomiation) 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. There is an active choir and a deep tradition of music Within the church. We also organise social events that are geared towards establishing and deepening links with non-churchgoing members of the community, thus contributing to community cohesion. 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 containing a well-balanced spread of investments that is managed in accordance with the guidance of the Church of England's Ethical Investment Advisory Group. This portfolio is invested mainly in equities but will also include fixed interest securities, property and other assets. The Rector {F)OSition currently vacantl receives a stipend to which the PCC contribute 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. You may choose to include further statements, where relevant, about: policy on grantmakin8; policy programme related investment; • contribution made by volunteer5;
Section D Achievements and performance The previous incumbent left his position at the end of July 2023. A new incumbent was appointed in November 2024 but will not take up his position until February 2025. The church has therefore remained in Interregnum for the whole of 2024. With the support of local clergy the normal pattern of church services was able to be maintained throughout the year, together with regular Bible study, the weekly Childrens, group and a brief fortnightly mid-week service on Zoom for the housebound. The church continued 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 included Appointment of the Rev Francesco Aresco as Rector, commencing in February 2025 Refurbishment of the Rectory interior and garden in preparation for the arrival of the new incumbent Participation of the Church Choir in a performance of Bach's St John Passion in March 2024 Continuation of our singing group for primary school age children on Friday afternoons Preparations for renewal of the Church's Electoral Roll in 2025 Appointment of a qualified architect to undertake the Church's Quinquennial Inspection in 2025 Securing the agreement of Barnet Council for the demolition of Church House and permission for a sympathetic rebuild of a Community Hall on the same site. Section D Achievements and performance (contd.)
Section D Achievements and performance (contd.) Our prioritie5 for the year ahead are: The welcoming of a new Incumbent who shares our vision for the future of the church in Monken Hadley The maintenance of our traditional service pattern and day to day pastoral care Finalising plan5 for the redevelopment of our Community Hall Exploiting opportunities for engaging with the wider community through events and outreach (for example, our choir will be contributing to a major performance of St John Passion on Palm Sunday 20241 Establishing the principle of Succession planning for key positions of responsibility Summary of the main objectives of the charity planned in the following year Section E Financial review Review of the charitvs financial position at the end of the reporting period The financial performance in the year ended 31 December 2024 has again been heavily influenced by challenging economic times in the United Kingdom. Uncertainty over employment, inflation and the health of the economy continues to make Church fundraising and cost management a continued challenge. Additionally the extended period of interregnum has impacted on the Church's financial performance. Thankfully, as of 6 February, Francesco Aresco will join us as our new Rector and we look forward to a period of stability and growth under his leadership. In 2024 the Church raised £130,905 in income and spent £129,359 generating an Overall net income (Revenue less costs) at £1,546. This was just over £9,000 lower than 2023. Overall performance for the past 4 years 15 summarised in the table below. Essentially the overall profitability of the church has declined over the past 4 years but has been supported bythe Sirjustinian Pagitt donation5. Church House Restoration net revenue (now "Renewal as we aim to rebuild rather than restore the old Church Hall) has declined over the past 2 years as we focused on obtaining planning permission (with related costs) and the securing of the Barnet Council generous £200,000 CIL grant pledge which does not show in the financia5 statements. 2024 2023 2022 Church ongoing activities Sir Justinian Pagitt donation Church House CH Restoration (now "renewal") {11,006} {10,934} 13,500 11,500 {451} 1,828 (4971 8,178 (452) 12002) 57,252 Overall net surplus £1,546 £10,572 £54,798 Church ongoing activities represents the main day to da¢ 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.
The shortfall in 2024 is primarily driven by the fact that our main income IDonation511egacies} at £85,000 is not sufficient to cover our Diocesan contribution1£73.715) and leave sufficient surplu5 funds to cover running costs. Other income {funeral and wedding fees and Church fundraising events) were lower in the yearwhich contributes to the profitability challenge. Church running expenses continue to be reasonable well managed but are heavily driven by our ongoing quinquennial responsibilities and energy related costs. Our "Core Stewardship" Planned Giving contributions was broadly consistent with 2023. A critical focus on increasing this activity underthe new Rectorfs and PCC direction will be crucial for the Church's financial health moving forwards. Since 2019, stewardship giving has reduced as Church numbers pre-COVID have not been replaced. That said.the Church remains hugely grateful to its members for their continued and in many cases increasing commitment. The Sir Justinian Pogitt Charity (trustee of the Gate House property) proposed donation of £13,500 to the Church in the year l£11,500 -2023} reflects the continued tenancy in 2024 at an increased rate, and lower refurbishment expenditure which has rebuilt its reseNes to pre-COVID levels. The donation is in line with the Chariws reserves policy. Despite closure, Church House generated a small Ioss largely from ongoing essential utility costs partially offset by income from bank deposits held here. Revenue was minimal given the closure of the building because of subsidence concerns. The CH Renewal movement reflects lower cash grants from Grant bodies and significant survey and architects fees Ic.£14,000) required to successfully obtain planning perm ission in the year. Total Net Assets stand at £439,(NJO of which £386,000 is Cash at bank or investments covering both Church and CH Renewal balances. This is £3,000 lower than 2023. C.£IOO.000 relates to Church distributable balances with the remainder committed to the CR renewal activity. It goes without saying that we are truly grateful to those who continue to donate during challenging economic times and to those who selflessly give their time in support of all aspects of Church fundraising, cost management and fabric maintenance. Information about the charitvs reserves Church Reserves as at 31 December 2024 grew to £430,195 {2023 - £428,647) of which £238,346155Yo} were held in Unrestricted Funds. Restricted reserves totalled £191,849 of which 85% relates to Church House Restoration and 9¥0 to the Bells and Clocktower fund. £368,526 of reserves are held either in cash or investment funds. 81% of overall reseNes are held in cash/deposits with a further 8% held with the COIF Charities Investment Fund.
Uncertainties about the charl$ ability to continue as a going concern No uncertainties identified in terms of the Charivs ability to continue as a going concern. Details of any funds materially in deficit 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 incorne 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 service5, legacies, Statutory fees, and various fundraising activities. We promote "GiveTap" giving using QR codes and electronic card readers for events. the chariws principal sources of funds lincluding any fundraising); how expenditure has supported the key objectives of the charity; investment policy and objectives including a ny ethical investment policy adopted. The Sir Justinian Pagitt Ecclesiastical Charity contributes variable funding each year to the work of the Parochial Church Council of Monken Hadley in accordance with its internal policies and depending on the level of reserves held by the Charity- Section F Other optional information Acknowledge any large Grants or donation in this Section. Acknowledging a large Grant in your TAR may be a condition of acceptance Section G Declarations The trustees declare that no exem tions from disclosure a 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 charitrfs tr stees Signature(s
Full name(s) Reverend Francesco Maria Aresco Mrs Barbara Taylor Position leg Secretary, Chair, etcl Rector, PCC Chairperson Church Warden, PCC member Date {eg. Date of the APCMI 2yh April 2025
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||CHURCHOFST.MARYTHEVIRGIN,MONKENHADLEY
StatementofFinancial Activitiesfor theYearended31stDecember2024|||||||||
|
i||
|||||||||||||
|||||Further|Unrestricted|Restricted|=TOTAL||TOTAL||||
||||details|Funds|Funds|2024||2023||||
||_|Incomeand endowments from:||£|£|£||£||
||i|
||||Donationsandlegacies|2a|85088||85088||85,411||||
||||Charitable activities|2b|2975||2975||5,845|||||
||||Othertradingactivities|2c|4052||4052||5,247|||||
||||Investments|2d|9202||9202||6,634||||
||CHRenewal Fundraising||2c|5975||5975||11,886|||||
||||Other|2f|23613||23613|||25,259|||||
||Total|||130905||130905||140,282||||
|||Expenditureon:||||||||||
|||||||||||||Wj|
||||Raisingfunds|3a|1877||1877||||||
||Charitable activites
|
|
C HRenewalexpenditure||3b
3c|109261
14102||109261
14102||116,521
9,004||||
1]|
||||Other|3d|4119||4119||3,290|||||
||||||||||||||
||Total|||129359||129359||129,710|||||
||||Netincome||1,546||1,546||10,572|||||
||||||||||||||
|||Transfers between funds|1|-|:|-|||||
||||Netmovement infunds||1,546||1,546||10,572|||||
|||||||||||||
||||Reconciliation offunds||||||||||
||||Total funds brought forward|11|236,800|191,849|428,649||418,077||||
|||Total fundscarried forward|1]|238,346|191,849|430,195||428,649||||
||||||—————|————————|||SSS|“||iH|
|||||||||||||
Page 2
CHURCH OF ST. MARY THE VIRGIN, MONKEN ST. MARY THE VIRGIN, MONKEN MARY THE VIRGIN, MONKEN THE VIRGIN, MONKEN VIRGIN, MONKEN MONKEN HADLEY BALANCE SHEET - 31st December 2024
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OF ST. MARY THE VIRGIN, MONKEN ST. MARY THE VIRGIN, MONKEN MARY THE VIRGIN, MONKEN THE VIRGIN, MONKEN VIRGIN, MONKEN MONKEN HADLEY |
BALANCE SHEET - 31st December 2024
2024 | 2023 | |
Notes | |
FIXED ASSETS
Tangible : ae 7
Investinents 5 - | - | :
CURRENT ASSETS |
Debtors 6 47,202 41,202
Cash at bank and in hand 351,653 361,264
Investments 7 34,873 34,103
433,728 436,569 | |
LIABILITIES i
Creditors - amounts falling due within one year 8 (3,535) (7,922)
NET CURRENT ASSETS 430,193 | 428,647 —
TOTAL NET ASSETS 430,193 | 428,647 |
SES —————————— |
PARISH FUNDS | |
Unrestricted Ila 238,346 236,800
Restricted lib 191,849 | 191,847
430,195 428,647
Approved by the Parochial Church Council on [25 April 2025] and signed on its behalf by:
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Francesco Aresco - Rector Tim Fitzpatrick - Treasurer
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CHURCH OF ST. MARY THE VIRGIN, MONKEN HADLEY
Notes to the Financial Statements- YEAR ENDED 31ST DECEMBER 2024
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ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with the Charities SORP (PRS 102) ‘Accounting and Reporting by Charities : Statement of Recommended Practice applicable to charities preparing their accounts in accordance sith the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2019), Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ircland and the Charilics Act 2011, The financial statements' have been prepared under the historical cost convention with the exception of investments which are market value, as modified by the revaluation of
Financial reporting standard 102- reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland’:
-
The requirements of Section 7 Statement of Cash Flows.
-
The requirements of Scclion 3 Financial Statement Presentation paragraph 3.17(d)
-
The requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11,48(a){iv), 1148(b) and 11.48(c).
Vunds
Restrictedfinds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be Unrestrictedfunds are general funds which can be used for PCC ordinary purposes. These include funds designated for a particular purpose by the PCC. These financial statements include Church House activity, and assets, treated as a designated, but unrestricted fund.
‘The accounts include monetary transactions, assets and liabilitics for which the PCC can be held responsible.
incoming Resourees
Planned giving, collections and donations are recognised when received, ‘Tax refunds are recognised when the incoming resource to which they relate is recived. Grands and legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when receivable, and interest is accrucd, All other income is recognised when itis receivable. All incoming resources are accounted for gross
Resources Expended
Grants and donations are accounted for when paid over, or when awarded, if thal award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds, All other expenditure is gonerally recognised when it is incurred and it is accounted for gross.
Fixed Assets
Consecrated land and buildings-Consecrated and beneficed property is excluded from the accounts in accordance with section 10(2){a) of the Charities Act 2011.
Movable church furnishings-Movable church fumishings held by the Rector and Chucchwardens on special trust for the PCC, and which require a faculty for disposal, arc 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 2001 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired subsequently will be capitalised and will be depreciated in the accounts over their nnticipated useful economic life. All expenditure incurred during the ycar on individual items under £1,000 or on the repair of movable church furnishings is written off
Current Assets
Amounts owing to tie PCC at the balance sheet date are shown as debtors less provision for amounts, if any, which it is considered may prove; uncollectible.
jnvesiments
Investments are shown in the Balance Sheet at quoted market value at the year end date
Page 4 | i i 2024 |
CHURCH OF ST. MARY THE VIRGIN, MONKEN HADLEYPage 4 Notes to the Financial Statements for the Year ended 31st December 2024
||2|Income and endowments|from:||Unrestricted|Restricted|Restricted|TOTAL|TOTAL||||TOTAL|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||Funds
£|Funds
z|||2024
£||||2023
£||||
|||2a|Donations and Jegacies|||||||||||||
||
|||PlannedGiving:
UnderGiftAid|||43,458||-||43,458|||41,393||||
||
||
|||Tax recoverable
Legacies|||8,706
6,000
58,164|—|-
-
-||8,706
|
6,000
58,164|||10,799
5,021
57,213||
j
|
|||
1}
|
||
|||Collections|||6,107||-||6,107|||4,922||||
||
}
|
|
||2b|Otherdonations
Tax Recoverable
Charitableactivites||15,898
-
15,898
4,918
4,918
85,088
-
85,087
|
SESE:|||||||19,727
|
|
3,549
|
85411
SS
FOYT
|||||
|||P.C.C, Fees|||2,975||-||2,975||||5,680|||||
||||Church magazine|||-
2,975||-
-||-
2,975||
|||165
5,845||
i
|||
|\;||||TS||||||Ee|||}||
||2c|Othertradingactivities||||||||||||||
|||Fairs,concerts&otherfund-raising events|||4,052
4,052||-
.||4,052
|
4052|||5,247
5,247||||
||||||emacs|||:|:||||||
||2d|Investments|||||||||||||
|||Interest (gross)|||9,202||-||9,202||||6,634|||
||||||9,202||.||9,202|||6,634|||
|||||—<—[—==<=[==*<"=———>—[———!—[—>>=[————=—=E=E=E=E—EE=___>—||||||||——— —|||||
|||||||||||||
|
||||||
||2c|CH Renewal Fundraising
Income
TaxRecoverable|||5,461
514||2
:||5,461
514|||10,169
1,717|;
ij
||
|
|||
||||||5,975||-||5,975|||11,886|||
|||||eee|||||||———||||
|||2f|Other
SirJustinian Pagitt income|||13,500||-||13,500||||11,500|||||
|||Churchyard maintenance recoveries|||5,125||-||5,125||||4,875||i|
|||Church Buildingrecoveries|||388||||388|||1,41)|||||
|||Church House Income|||3,667||-||3,667|||Sl,|||Ff|
|||OpenChurch Music Fund|||933||-||933|||856|||||
|||Other|||=||:||:|||1,500|||||
|||||||23,613||-||23,613||||25,259||||
|||||_|||—||||=||||
|||Total Incoming Resources|||130,904||-||130,903||||140,282|||||
|||||||——————|ae|||||——||||
|l|=|—|—|—|=|——|||—|||:||J]|
Page 5
| || | i
CHURCH OF ST. MARY THE VIRGIN, MONKEN HADLEY
| Notes to the Financial Statements for the Year ended 31st December 2024
| 3 | Expenditure: | Notes | Unrestricted | Unrestricted | —_Restricted | —_Restricted | TOTAL | TOTAL | TOTAL | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2024 | 2023 | i | ||||||||||
| £ | £ | £ | £ | |||||||||||
| 3a | Raisingfunds | |||||||||||||
| CostsofSocialandfund-raisingevents | 1,877 | - | 1,877 | 895 | ||||||||||
| 1 | 1,877 | - | 1,877 | | | 895 | |||||||||
| 3b. | Charitable activities Ministry: Diocesanparishshare |
Oo | 73,715 | OS | - | OB | 73,715 | 73,115 | ||||||
| Otherministry costs | 1,551 | - | 1,551 | 1,99) | ||||||||||
| Church -running expenses | 9,682 | . | 9,682 | 4074 | ||||||||||
| Insurance Churchbuildings inc}, furnishings |
2,595 2,504 |
- : |
2,595 2,504 |
3,229 14,238 |
||||||||||
| Upkeepofchurchyard | 7,072 | - | 7,072 | 6,175 | ||||||||||
| Music: Organist | 4,695 | - | 4,695 | 5,945 | ||||||||||
| Organandpianomaintenance | 1,896 | - | 1,896 | 1,223 | ||||||||||
| Altarandservices | 290 | - | 290 | 542 | ||||||||||
| PCC feespayable | 2,144 | - | 2,144 | 2440 | ||||||||||
| Printing, stationery,telephoneetc. | 1,803 | - | 1,803 | 1,699 | ||||||||||
| Independent Examiners’ fees | 1,314 | : | 1,314 | 1,250 | ||||||||||
| 109261 | 109,261 | 116,521 | ||||||||||||
| 3c | CH Renewalexpenditure | 402ei | 14,102 | 9,004 | ||||||||||
| 14,102 an |
- - |
14,102 a |
9,004 OO |
|||||||||||
| 3d | Other | |||||||||||||
| Stewardship costs | = | . | ° | |||||||||||
| OpenChurch MusicFundexpense | 2,744 | - | 2,744 | - | ||||||||||
| ChurchHouseexpenditure | 1,375 | ~ | 1,375 | 3,290 | ||||||||||
| 4,119 | - | 4,119 | 3,290 | I | ||||||||||
| a | : | es | ] | |||||||||||
| TotalResourcesExpended | 129,359 | - | 129,359 | 129,710 |
°
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Page 6
CHURCH OF ST. MARY THE VIRGIN, MONKEN HADLEY
Notes to the Financial Statements for the Year ended 3ist December 2024
4 STAFF COSTS
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|---|---|---|---|---|---|---|---|---|---|
|The PCC|had|no|employees|during|the year ended|31|December 2024.|
|There were no|disclosable transactions|in|respect of|PCC members,|persons|closely|connected|with|them|
|or other|related|parties.|
|5|FIXED ASSETS|2024|2023|I|
|£|£|||||
|The PCC has no tangible or other fixed assets|cs|ae|||
|6|DEBTORS|||
|Gift Aid|tax|recoverable|14,605|15,508||
|||Other debtors|and|prepayments|32,597|25,693|
|||7|INVESTMENTS|||||
|Church|House|investments|with|COIF|Charities|Investment|Fund|I|
|i||at market value|____ 34,873|34,103||||
|ee|ee|
|||8|LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR|
|Creditors|and|accruals|(33535)|(7,922)|
|535)|(7,922)|||
|8|CAPITAL COMMITMENTS|
|There were no|capital|commitments|at the|balance|sheet|date.|
|9|CONTINGENT|LIABILITIES|
|There|were no known|contingent|liabilities|at|the|balance sheet date.|
|10|RELATED|PARTIES|
|There|were no|related|party transactions|for the year ended|31st|December 2024.|I|
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|CHURCH|OF|ST. MARY THE VIRGIN, MONKEN HADLEY|||
|Notes|to|the|Financial Statements|for|the Year|ended|31st December 2024|
|11|Analysis|of financial|activities|by|funds|:|
|Va|Unrestricted Funds|General|Cit|Church|Music|Church|= Rectory|Rector's|Church|Total|
|Funds|Renewal|‘House|Fund|Fabric|Repairs|Disc|Boiler|Unrestricted|
|Fund|Fund|Fund|Fund|Funds|
|z|£|£|£|£|£|£|£|£|
|Incoming resources|120,328|5,975|3,667|933|-|-|-|-|130,903|
|Resources expended|C0084)|4,102)|373)|C7)|520)||=|(528)|29,359),|
|Net|Incoming|Resources|
|before transfers|11,244|(8,127)|2,292|(EST)|(1,526)|-|-|:|(528)|1,544|
|Transfers between|funds|(2.469)|-|20|-|-|2,449|-|
|Net movements|in funds|8,775|(8,127)|2,292|(1791)|(1,526)|oe|eH|921|1,545|
|Balances brought|forward|42,100|119,870|44,971|‘1,791|15,000|2,902|167|10,000|236,800|
|Balances carried|fonyvard|50,875|111,743|47,263|0|13,474|2,902|167|11,921|238,346|
|Assets and|liabilities (other than|investments) are not allocated|to particular unrestricted|funds.|Investments are allocated to the Church House|fund.|
|lib|Restricted Funds|Poor of|CH|Lighting|Bells &|Tower|Memorial|Linenand|Church|Memorial|Total|
|the Parish|Renewal|Fund|Clock|Fund|Wall|Necdle-|Guide|Book|Restricted|}|
|Fund|Fund|Fund|~~|work Fund|Fund|Funds|
|£|£|£|£|£|£|£|£|£|||
|Incoming resources|-|-|-|-|-|-|=|ns|=|3|
|Resources|expended|-|-|-|-|-|“|<|-|-|
|Net|Incoming Resources|
|before|transfers|-|-|-|-|.|-|~|“|»|a|
|Transfers|between|funds|-|-|-|-|2|=|7|e|-|.|
|aES|
|Net movements|in|funds|-|-|-|-|4|s|3|Ss|m|
|Balances brought|fonvard|1,694|162,785|1,974|17,891|137|4,527|288|104|2,449||191,849|
|Balances carried|forward|1,694|162,785|=—-1,974|17,891|137|4,527|288|104|2,449|191,849|
|The|Restricted|Funds|are|represented|by part|of the cash|at bank|
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CHURCH OF ST MARY THE VIRGIN, MONKEN HADLEY Page 8
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PAROCIAL
CHURCH COUNCIL OF ST MARY THE VIRGIN, MONIKEN HADLEY
I report to the charity trustees on my examination of the accounts of the Parochial Church Counci) of St
Mary The Virgin, Monken Hadley (the charity) for the year ended 31 December 2024
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 (‘the 2011 Act’).
Ireport in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(5)(b) of the Act.
Independent examiner's statement
L have completed my examination, I can confinn that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
1, accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2, the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts
set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concems and have come across no other matters in conection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
Signed:
Alf Del Basso FCCA
Keelings Limited :
Chartered Certified Accountants and
Chartered Tax Advisers
Broad House
1 The Broadway
Old Hatfield
Hertfordshire, AL9 SBG
25th April 2025
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CFIURCii or sr hlARY I'HE VIRGIN, ThoNI(l N J4ADLEI]' Pag¢ 8 INDEPENDENT EXAMJ INER>S REPORT TO TIIE TIIUSTEES OFYHE PAROCIAL CIIURCII COIINCILOI4 ST hlARY I'HE I'IRGIN, MOh'lCEN HADLEY I report lo tlie cliarily Irusites on iiiy exaiiiiiiation orth¢ attounls of ihe Paiochial Chiirch Council of Si MapJ'The Vir8in. Monk¢n Hadl¢y {Ih¢ ¢h8tity) for the JY8rended 31 De¢emb¢r 2024 llitJlJOJ15ibililirs bnsis ofyeport As Ibe (rus¢ees of ihc th8rity. you are ie5poDsible for ihE prepaTaiion of th¢ aetounls in fteeordallce wilh Iht rcouirememtsof Ilie Cliarilics A¢t 2011 ('Ih¢ 2011 Aci'l. report ith r85prct of IT)y ExarninTrlioii of the clinrilj 5 Iccounts carried ovl iitthr s¢clioii 14$ of Ilke 2011 Ael and ii) canying oiii niy exaiiiiiihiiDlI I Iiavc folloiird ihc applicable Dircctiojis giv¢ii by Ili¢ Chortty colwlS$10 i1¢tr$¢1 145(5)(b) orihe Act. I hav¢ ¢onipl¢tc¢J ttiy exainiijatioii. I rnt] confini) Ili&l no malLYial iiiitierg hAI'e ¢onie lo Iny alf¢nlion iii ¢onncclioii iYiiTi the G¥a¢i)lnalio giiillg mc causc to bclitvc tlial in aiiy ii?atcrial K51)CCt'. l. attmithting rEcOrd5llE Tlot kcpf in r65PCCtof tht cbBTityas rcquiredby settion 130 of fli¢A¢t' or 2. t1 accwJ%ts do Iiot a¢¢otKf il'iih ihose rcroTds- or 3. Ihc llCCOiliLlS do nol conwl). Ivilli tlie %pplieable r¢qiiif¢mcnts coii¢eming th¢ fomi oiid eon¢¢rtl of iccoiiiits set out in tlie Charilies {A¢¢oiiiils iid Ii¢pDTlsl Rtgulntion5 2008 otli¢T ihaik &n)' Tequirernenf th21 ille coiiiit5 givc a'lnic and faitr Yiciv iyhicli is Jiot a Jiialtey coijsidered as Iiart of pu indcpettde#t ¢xaihiiation. I IT8ve tto ¢ortc¢r41s aitd hav¢ Coihc rOSS tLO Otljer JDolters in ¢oiine¢irtsTh willi tlie exaMKithti1 to wliiclj <ention slioiild be dr•iYn in Iliis r¢porE ordcr to cnobl¢ a proper undetsiandin8 of the aecovttis to be re0cld. Signed.. Alf Del BI5so frCCA Kc¢lings Limi(ed CliaT(ere<l Cerlifred AccounlanisaJ)d Cli&?rfered'fax Advjseys LlroRd EIoiise l Tlie Br011 di%Y} Old Haificl Hcrtfordshirq AL9 5BG 25th Ap¥il 2025