CHRIST CHURCH Southgate - Parochial Church Council of Christ Church Southgate Trustee Report and Financial Statements For the year end 31 December 2023 Charity Commission Registration Number 1131606 Contents Page Report of the Trustees Report of the Auditor5 Statement of Financial Activities io Statement of Financial P051tion li Notes to the Financial Statements 12-21 REPORT OF THE TRUSTEES for the year gnded 31 Dacember 2023 The Trustees have pka5uie in Presenting Ihwr report and the financial slalernenls of the Parochial Churth Council IPCCI for e year ended 31 December 2023. Iv PTeparing the f￿an￿al stalemenls. the Trustees have adopted Ihe provEion5 of Accounting Rep(Kting by Charities." Slatetnent of Re￿rn[￿ended Practs"ce appSG4kle to Gharities prepaiing their accounts in accordanc8 wilh th8 Financkgl R8POrting Siandard aPphcab￿ in th8 UK IFRS 102118ffecb.ve 1 January 20151. Statement of Tr(￿1008, r•spO￿lts11ltI•s The Trustees are responsible for preparing the Annu81 Report and the financial slalerr*nts in accc*dance wilh ap￿￿able law and regula11￿8. Th8 law appl*ab￿ to chari1￿ In England & Wales r8qutrÈs Ihe Iruste8s to prepare finandal staiem8ntG for finandal yaar in Bccordance wth United Kingdom Generalty Accepted Accounting Practice (Uniled Kingdom ACcounti￿g Slandar(Is and appliGqbl8 lawl. The Trustees rnusl Th)t approv8 the financial sla18menls unle55 they are salisfied that th8y give a true and fair ew ol the state ol aftairs of tt)e charty and of incoming resources and appli¢8tion ol resources. incbJ¢*'ng the incorne and expenéitur&, of the charity lor that peri¢￿. In preparing these financknl statements. Ihe Trustees are required lo.. al $8le¢l 8uft81)18 ac4ountlng polld8s arnl gppty thgm con5iSt8nty: bl obwrve Iha n*thods and prinCip￿S in the CharitV85 SORP., cl mBk8 jUdgn￿nts and 8¢counting gstlmates that arg r085cThbl8 8nd pftJ¢J•nl'. dl stale wh81her Bpplicable UK Accounting s￿nd&￿s have b$¢n fdk)wtrd. subject to any materl81 tlep8rtures di$dosed nd explalned In the flnan¢Kql $18t8ments. •) preparo thè finanelal statements on the g)Ing C￿cern basis unl8ss 11 is inapproptote lo pr8wrn8 Ihat Ihè charfty wlll continue to oper&te. Th• Trust￿$ arè rfrsponsiblo for keepln9 8ufficlgnt acwUn￿Trg records that dlsclosa wth r*aSonab￿ aceurncy at any time the fin8nci81 position of the charlty and enabb th*m to ensure Ih81 the financial stat8m8nt5 comply with the Char￿1￿$ Ad 2011. the Charity IAccounts and Roport51 Regula￿0￿$ 2008 8nd the proYisk)n$ of the Irust daed. They are aL50 r85pon5iblv for sa18guarding the asset5 of the chorfty and hence for tskins rgasonable 51eps for the prevention and d8tscltsJn ol fraud and other Irr8gulèrlties. Almi and Purpos Christ ChU￿h Soulhgale PCC has the fesponsiblity of cty)Pgr8ting wth irtuft*)enl. the Reverend Dr Chrichton Limbert, in promollng In Ihe ec¢￿SiastiCal parish the wholo mission of the Church, pastoral. evangelist￿. 8oeial and etsJm&nic•l. The PCC 15 8lso specbfic8ly r8spon5ibkn tor the Porf$h Centre (Church Hou58 and Walkw H8111, Flats 8 & 7 The Green and the house at 62 08kfield Rd, Southgat8. ObJ•¢iiv•• •nd •¢tlvltl•• Tho PCC Is Cornn￿rf9d to enabling as m8ny people as possiue lo worship at our church by bping open. welcoming 8nd inclusive to 811. We 8irn tts be a beacon of God's lov8 In tho £yjm￿rt1ty', lo offer Ilfe4ong loving care end support lo sll. to drnw thèm closer lo (>)d,' to In¥pir? prayer and woryJhip th￿ugkn Ihe beauty of nature, 8rL musl¢ and liturgy. When planning our activrties for the year, we have Considered the Comrni58ion's guidante on publlc beneflt and, In particular, the 5uppbmentary guidance on tharib.es for the ￿1vanCement of relvJion. In particular, we lry to enable all people lo live out thelr falth 89 Part of our parish eommunlty Ihrougn.. Worshlp. pray*r and $8craments; learning about the Gosp81- and deepèning Ihèlr personal relatlonshsp with God. Provislon of pastoral Ca￿ for people ts.ving in Ihe pari¥h. Mission and OUt￿ch work. To f8¢ili18te Ihi> Wts￿, it ts important that W8 maK)18in the labric of Christ Churth. the Parish Centre sile and other properties. Aehi•v•m•nts and performane• The church has been characterisad in 2023 by a conscAidalicm and ￿nIle growth ol alie￿lanCe. The huge in¢re8ses seen in 2022 have been maintained a5 has Ihe number of S¢￿X)I vists and th8 use of the b¢Jilding lor music, art and heritagp. vthich has greatty Invdved the wNler community. Worshi During Lent we used an 0Th4ine weekly prayer sess￿￿ led by a drflÈrenl Bishop in LondDn which were w81kattend¢d. Ea$t8r and Holy Week w8r8 fully Gelebr2ted wth our14r9e. Ènihusiaslic choir and singing. The lolal Easter allendanGe had doubled in 2022 compared to 2021 Iincreasing trom 161 to 3161 aDO that lèvel he￿ up well N*ith 307 attending over Easter. We were ab￿ lo provide services for Ihe comrnunity at pwol81 tirrEs of Iheir lives, ano have perfonDed 3 mamag88, welcomed 9 peoplè into the Christian Faith through baptism ctsnduc￿ 13 funerals- In both church and crematorium. At tirnes of national cebebrat•)n, Christ Churth pkayed ts ful part wth speaal Serv￿ gatden party) for the Coronation of "ng Charfes111 in May. th¢e again. the Vi(ar. Rev'd Dt ChtKht(m LiY*HL led the 5ewvw* ￿ ￿00Mfield Pwk and in c￿rCh. %*ith unifonY*d organraalic￿S in at￿Trttance. A highlight in Jurn was the ordinalion 8t St Par￿185 New Chvrth of ow $8if-SUFvrxting cuTrte Fr Paul Emerby as ￿leSt. The followng in Juty our ordw)and Claire Betts vtas ordained as Cknacon fft St Pad's Calhedral before staitiTrJ her Cura¢y at Bush Him Park. Ouf oth8r orfinaryj. Anna Hughes. c￿￿r￿je$ her sludE$ ai St Auw5br*'s Cthge. Christmas 2￿23 at Chwist ch￿￿ was ioyhA. Thg nurnbws an irrw)bw￿nI huge ijmp of thg wov*?us year and continue h￿her Iltan wfrpanderric ￿￿els. The overnl attenda￿e fiwre to 654 from 626. During Advent knitted ciib fyures Ihat makè T￿¥￿ng Crib *nl on th￿ ￿￿1 hLw-t¢￿$e N)um•y 8roJnd tha parish. However. Ihi5 was backed up wth rrEtha tK)stsng ot Mary. Joseph anLI donkey on a trail try rwivJ Ron* - ch Ihey on the Vl¢ar In (ktctsr. Our dlgilal fwtprint conunued to I￿rth this year. Cxjr sul)sryl)er5 to X {Twittail. Insla9ram aTrd our %￿kty 9rn8fl have genljy Increased. 7he M8ggzkno has In re•Jwship 88 8 bi4)￿nIhIY wbicath)n for purchaws bn thur¢h. W• have conlnu8d io wekome the (mn￿nIty inlo tha church Bs much as ￿SsIb￿. Once again. w8 1¥)5t8d th8 bcal ABRSM music ex8ms in Ihe Ch￿￿h using ￿￿￿ gwd piano. The ar￿￿1C ffj the d)wd). as as Iho ill5lwm￿t itstrm. was well received by C?nd￿aleS and exarrinws ft¥ the 16 day5 alexam5. They ar• ah•aty i￿*•d into 2024. We hosted a number ol tours. wlh ¥i5its fr￿￿ th& Enfwld Sou"ety. The Friends ol Wili8m hAorrB Gakry and the P8lm8rs Gre8n U3A. Tho Vicar atso 9av• a ts1¢ to Ihe Wwg Pr￿$ cbjb OTh the Slaw￿d &lass in the church. The chLth has r8maln•d open to vbitors tsvo days 8 ¥4*•k. IIK8 ￿lms[￿Ot0r was in the olke. Sl Paul's New SoutWt8 uwj buldltvj fly o PCC W and sw day. We held gardenlng rnomkng8 In the thurthyanj 6 ￿￿9. altrKled ￿tse[B from the crywegakn and lh8 vld•r Community. A ro￿ery project has been Cyjnv￿tBd arxj a ￿ld1￿￿et designat&l near Ihe bee hivos in the garden tehind the church. Tho t*es prtyJu(*d a burn￿1 uop ol how was 5L*J lo provKJe frJrKls *J ma¥itain the kotrpin9. The annual Vrcar5 Harvest I￿rZ rapidty sokj lo a ￿CO￿l nuftknr ofchurth and ¢ommunty teams Itncknding on8 frorn lh• local un(knrtokgr¥l and r8i%8d well ¢Mr £1(￿ for the RNLI al￿ the Mgrthont Novy Fund Ithe Seamans Charftyl. We hekl antllgd 8 Memorlal 8•r*• fry fja￿ uTrJertakern' fml. The Chdst Churth A8sociglw ICCAI bar a￿1*d thryM*ul th• ￿rar￿1 drinks in thufch cffl severpl s￿101 OCe840Th8. Th¢ tholr h95 been 8ble lo have a fijl of tr)urs vbils ￿r. $lr¥Jkng tho seryices for a week 81 Truro Cathedral and a weekeTrJ at He￿forTj Cthedff8L Th¢ ctK•lrw8$ gThY Gemwn TV Jinging special anth8rn ts lh8 Ccrnty¢m. The juni¢x eholr has teen ft¥intgkn6d, with 04w 20 re9Jlar rn8nthrs. w8S 8 m8ior c0th.i￿101 to tAK*sh¥•. Ind￿j1￿ services with the junkx ehotr C￿ty. TW knduOe¢ in thg tity to TNro aThJ aThJ rr*rr•)ratle expenenc¢s. The provL%bn kn ryji Chldren'$ Comer to expand. bjih n Ik¢x sp•ce. and tx)oks and equlprrtnL It was in use by lamllles every Sundw momknq a¥ as rtgularfy wd and apwedaw ty vtslloTr the Our work our l¢xal r￿n-fatth Sca￿)15 as we wekoN*d year wps for CUrrKU￿rn se95bJn5 as weH as for Easter, End ol Summer Tem). Haryest WKI Chrislrnas servts5. Thi% tAs dtrecty contribut￿1 to the faGI ¢hal Wr'normal sèrvice" weekly aiieTrJ8rKe fwre lor chthjren has ￿￿tase￿ frcln 10 in 2022 lo 15 in 2023. Older Pe OUT mtsnthty servths in our pansh care hcffies rx)ntWlU8d th￿Qknt the year. DdivefiwJ communi)n lo the Iwsebwnd wa5 fully re•esiablished. The bwAeekly ￿hn9 Se￿￿e9 also conbnued th1￿ the year. CXJr weekty café on a Friday rrnmiThJ as part of th& Tlaces (d Wekome" stheffle has takÈn r*¢ al year. Three ￿1[thr5 oftr* alt•)ded a courB8 kn become xueO*ed Mental F¥sl-AwJers. Nurture A bi-weekly Bible Study, by an LLM. has conlwiu&l to w. The Vi¢ar is the Creation Care b8ad lor Ihe EdryKN)lon Dwese aTh1 has SF<4Éen at Ihe Enfie￿ Clirnale A¢lKM) Forum at an evening f8ilh se55wJn and an hf(mts"on Hub Day at the Palmews l>een Moswe. a chufch we continLE to work towards our E£(￿Churth award. Plan5 have rmved on a l*lle lo offer, vi8 a major bu￿ing proptl a(tessitAbty lo lolet faclitEs. caluing p¥O￿lOn. as ￿11 as ntrw p8Stor¥ aThJ Spa￿5. IxAlhe ecoKMTK urKertaty Ihat tlw are sl# on hobj. FoUn¢yab￿)$ The high ￿Ve1 ofuptske Parish Sthen* th)rtN)ued n 207J. Investigation WO￿ final planning was cor￿u￿￿ Ihe Lqrg8 shiR In charKel ficK)r Ihe was pul out to lender. Thg quotgs Ihat were receiv￿ ￿re too h•* lo I￿tIfy. so in 2024 th• tth W*il bts rnpl￿ed and 51thilsed 85 requirod and Ihe choir sto115 levelled up. Tha ￿VeStigatio￿ have thjt it 15 lh￿ tsre %4il be lurfhw major m0ven￿l in tha lulure. Flnon¢lal revlew The S￿￿ment ol FinancHI ActivlJ8s ISOFAI is attached to this rep)rL Totsl Wds £286.fj4312022". £259.47018 expenditufy £270.52812022.. £285.0291 gNing a bjtal op•ratiThJ Surp1￿%. I￿￿0￿9 gains atKd losses of£840.92712022..1oss of £3.8461. After takiThJ into account the nel ￿Vestm8n1 gains the 1041 fvtwts £4.192.63312022.. £3.351,7061 of which £333.90412022.. £359.3711 K8 for re$tn¢knJ R•sgrv95 pdlcy The PCC r8gularfy reviews its Reserve5 Poky. The p(4￿v k8 to mainlain a balarte cn Iree Unrestr￿l9d funds of Ihrpe rnonthg unre81ricted &xpendlture. kn athJFtional sum 01 £15.OCQ be bek5 lo co¥￿ any 8Trwnq *YJrk ¢)n Its buihYing$. Reserves are helj in fun¢ts that gJp(*xl the the Churth of En￿￿15 Ethvl In￿￿1￿￿ni￿o￿SOry Grw. Golng Conrorn The Twst80s ¢onslder that thgt the CINJrth Iws •J8We resources bj m8et ts future11gtylitw ts the f¢￿Se￿tIO fuwre and for IhL8 rea$¢)n ¢¢￿tinue to adopt 1he'gow￿. concem ba￿5 in Fryarin9 the finan(a81 ststenwts. Voluntwrl 11￿ Enylo>ws The work OIChr￿1 Churth Soutyte not bg rA)ssbkn oflhe many %y>*Jnt8•rs contit)ut• thelr tim. •r*ryy. ewrience aryj bj communty. ClwlFt gr￿4)yo￿ t4w $1off mombors in 2023.. th Dlrecior of Muslc ond a port Om8 Adminlstr8tor. SlruGlur•b s0￿m•￿• •nd manag•Thnt Members of PCC a￿ either exwollb)o ar ebec*d at tr* Annu81 Pafochwl Chwrh m••tr￿ IAPCMI in ?wJrd0r￿ *ith the Church Rep￿sen18tH)n Rulos. PCC rnrthrs aTr rospor6ib* for makkng d8cis*y* on al rnatters of99n￿l Conc￿ and Importance to Ihe p81i5h inchjjing decidtng on how funds ol Ihe PCC are to be spent. The fvll PCC rr*t slx tknws ￿rfftg ￿r. The fln•ncè st8Nling commltt•• IFSCI. Ih8 orly CLrnitlee cl Ihe Ffc requlred by law. mol 8$ rewlreo durfng the yeor. The FSC e8rrt8S Out Ihe busin￿ ol ts PCC meetings svbpcl to fv d¥¢¢t*)ns Coun￿. hAembers of the FSC are the IkKumbent. Chvrchwardens. T￿¥surel ond ￿ ekL1ed ft*rrkns ofth8 PCC Given the ol its res￿91L￿1tie$, thg Ffc *0 hos ¥ wmber ofott*r Q>Twr¥W. eath fo¢xJsknq cffi • speofic aspect of padsh Ilfe. These ¢ommrt¢ees are al re¥th¥L49 to the PCC, wllh rep￿ts r¢ceW and dL*ussed by the PCC as nec*ssary. K•y manag•m•nt p•r•onn•l Key management personnel are the nojmbent. Chuwchwardens and Treasurtr. They are re¥•Jnst*k8 lor delNery of the rnission xtion &thn. rnonrtoring of Ihe budwt. m8intawr*£ ol the 18bric aTrJ day-t￿d*Y running of Ihe thurch. Reference and AdmFni8trative lnfomwt￿rt Nam• *)f Charlty The PC¢ ofthè P*tsh of ChriBI Churth, Southgatè Charrty fegistration numb•r 1131606 Principal addr•ss 1 The Green &)ulhgate Lona N14 7£G Bank Bardays Bank PLC 214 Akjemans Hill Lon¢1tx N134PH Auditors Anthony Croft Ezekid Ltd 343 City Ro&J Lonth)n EC1V1LR Trustees During Ihe year. th8 lollowing seryed as olthe PCC R8V8rend Or Chrichton Limbgrt Reverend Hazel Miall Roverend pa￿ Elterby Clare Bo￿tOn Chawman As5i5tant Ftsst Curate Chur￿￿￿￿en Chwl and Tw>J￿r lurtd May 20231 Treasurw Ifrcffi) IAay 20231 ChuTdwariJen Iwice cha￿troM 20231 Churthwarden lfrom May 20231 Depuly Church*ar Deputy thurchwafd Lay Readw Licensed Lay Mini8tOT Lay Rgad8r Licensed Lay Ministèr lunld May 20231 {from May 20231 Kale Carroll Graham Cook Ronald Lo Pairicia Ashby Jackie Ander50n Sandr8 Anderson C8thy Dauman Amy Li Tracy Al￿n Freya Carrdl Imogen Cooper Pal ￿8￿1n$ Chnstopk*r Hov+el John Macrory Hllary Meur Angela Pa￿er B8V8rfey RuI8dya Gln8 Stone Cliv8 wood1K￿$0 Ilrom May 20231 {untll Klay 20231 {until M8y 20231 Approved by thg 8oord ol TNst88s sY￿d on it5 bBh8V try Revd Dr Chrfchton Umb•rt Dat• 23 Ayll 2024 Independent audltw's r•port to tho Irust¢•s Of CHRIST CHURCH SOUTHGATE PCC for th• yoar •nd•d 31 DeC•M￿r 2023 Oplnlo We have &wlit8d the financial 5t8tements ofchtst Chutth StyJltKJate PCC for ts yeaf endeo 31 Decenkner 2023. as Set out on pages 10 10 21. whith cornprise Statemeni of FinaTh￿l Acbmbes. aThJ Ihe $￿ter￿n1 of Finwcial Po$ilion and th8 reLgted Ml8s lo Ihe thanC￿￿1 sIalerT￿ls. indud¥¥J a summary of siwifi£ant aEcounling p(4t*s. our opinitx. th8 xcompanying finanoal sl8t8ments of the chanty are kwepared. in al rrwlwal respect& accorda￿6 wlh charily applKabk w*lhn the jurisdKtion of & Wales ￿￿, in part￿￿[. Ihe a¢¢ounl$ l)8 been prepar￿1 In ac(x)rdan¢8 ￿ FRS 102 SORP ISla18menl ol Recon¥r*nded PractKe for Accounting 8nd Reporting by Charitiesl 2015. {The SORPI, put4ish•J by the ChBrity Comrriswon in En￿and & Wale5 ICCEWI. under the hi$loricèl co$t wnven1ty￿. and in xcordaru wth the accwntin9 Sel out on pa9e 12. which fr8rn8wo¥k ccfislttuies tho applKabl¥ lthited ￿n¥jOrn G•nornly Acc•pt•d kc4xw*lng Practk•. U•• of our roport Thia rerK)rt15 made sO￿ty to the elwfws tW6t0•8. as a ixxty. In Part 4 of ts chart￿6 Iko)unts an¢J Reptsnsl RegulaiL)ns 2008. (￿r audrt work ￿ been unéertaken so Ihat ￿ rnyhl stsfe to the charty's tw$￿$ those rnatters w8 are required tr) slato to them in an 8txlit￿S and for no other purpose. To Ihe fvlle518Xtenl pemiitted by LAW. we do not 8ssurrn ￿s￿S￿lity to anyone than tt* chanty and the th8rlty's tnJst8es 85 a body. kn our •￿Itt r•pyt, (K fry th& fcrfThd. Ba•1¥ for ow O￿nIon We have been 8ppo4nted ￿ auditows un¢Jer 8•clkffi 144121 of The Cthawlles 2011 rnport in •toNdancè regulations made under Sect￿N 154 of that A¢1. W? conduct8d our audr( in aC¢f*dan(t vAth Intem81*￿1 &¥ndards on Audthng IISAS-UKI, Issued by the Flnanclol Reporting Councd. and applicab￿ law. C*Jr respcnsIN￿eS unLler those SI￿￿¥￿S are fijrther d8scrlW in the Auditors, Responsibiblio5 for the Auth'l of Ihe F$￿nc￿91 StateffEnls section of wr ￿pOIL We a￿ iThJeFendent ol the ch8rty in 8Cwrd￿ee with the ethic81 wlreffents trot erg ￿￿vant to 8utht ofthtr fin8fiewI st8terfwts In England & W9￿5. we have hJffilod other ethrgl respJn5ibiblie5 in aCcordoN￿ Twith these wi￿n￿nts. We bel￿8 thal the audil •¥Klenco hw8 oblaThd is Suff￿￿nI ONJ tr> proyth a bass for ow opinion. R•8pon•lbllltl•s of Trusl•es and Th¢p•• Ch•rg•d wlth Go¥•rnanc• lor th• Fln•n¢lal St*t•m•rrt• AS descrbed on page 2 bj 5. you. Ihe ch￿￿S TTustses, are res￿ fr* tr* Pr￿arat￿ of the fmancial st81ements In acc4)rdance with the chari￿t$ kt 2011 and aHother aFph'&rt)le arKI Mlh Unrted lQnoJom Generalty Accopted ACCWnt￿g Pradce. 8PF&catde In smaler ¢niJiks. and tÉkng salsfied Ihat the Ilnan¢kg1 Statements give a true and lair v*w. The Twste8s, arè d*rged with 9)¥8m￿. ar• reswible for rNern8eww the dwrity's fw)8wal ￿￿rtIng manag8￿￿nI is fe$p￿￿*￿e of Ihe ffin•icd slaterrmls in with chanly Lqw of11 jurisdiction of & Wale$ and lor such ￿ThIr01 as manawEnt delermines is necessary to enablE Ihe p￿paral￿ of financo151ateff*nts Ihat are frEe ITDM mateiial rrmsstalemenl. whether due to fvaud or e￿Or. I preparing the financ￿ statemen15. mana9ement 15 r85￿51b1È ftm assessiThJ the thanty's abty to rmtinue as going ¢ontem. dtsctsing, 85 awlic*. rnatter5 related to rx)nrAm and u5iTrJ it* concern bas15 of accounting urless rnarwgemÈnl either in*nd5 10 lirwKlate the chaFity or to ¢ea8e operatM￿. or ha5 rtj rtalisl altemative but to do so. Auditorfs R•$wJnsibililie5 lor tho A￿All of the Financial SlateThnts Cknr obje¢tnfes to obtsin reosonaE* as5urBncE atrwt *thether Ihe stalemenls8s a thle are free from rnalenal misslalernenl, whether due to fraud or error. and lo issue an audrtors report that incbjdes our opinim. Reasonable assuran￿ is a high ￿e1 of assurance. t￿[ ￿ not a guarwrtee that an audh C￿dE￿Ie￿ in accOrda￿e with ISAS-UK will ahydys d8t8cI a malerHI rni5stslerrent ￿then it e￿$t& Misstatements can arise fTom fraud or error and are cons¥Jered Mater￿ if. indThf1dua￿Y o¥ In Ihe awe9aie. they co￿4 reasonably bg ¥Ap￿1￿j influence th8 eCLy￿rnIC decis*)ns of LWS laken on the tosis of th8se fift￿C#￿ statements. In carying oul an audit in ac0Ythn￿ with ISAS-UK the audttorex8rLy5e5 wofessbjnal aTrJ maintans professi￿￿ $￿p￿(i$M throufvl ￿ a￿)(￿. Our ￿$[K)n$t)Ity is lo 8thJit and express an opinp)n f￿8￿181 ststenvts in a(tsydance wmh reknani kgal ènd regulatory requirements and ISAs.UL Tkwjse slandards rewwe us lo rxryly the srandards f Auditors publish* by the Financd R¢wting Counryl and to.'- Id8ntfy and ass885 Ihe ri5k5 of matefial ffusstatemnt of the financ4al 5tatem8nts. *fiether due to or error. to deS￿n and perform audit pr￿edureS resp￿1￿ to those ii5ks arwj to obtsin audrt ev*1ence Ihat is suffi¢*nt and apwopriaie 10 wovK1e a basis for wr ￿1n1￿". To oblaln an underswdkn9 of in*mal ¢￿tr￿ io tr* aL*Jrt in tyderto aLwJit W0￿d￿eS that are approprote for Circurrthfi￿ but forthe pwrKJse ot ex¥KewtvJ an OPinKJn tsf Ihe effecknfwe55 oftt charity's internal coTrtrol., To evaluate Ihe apprCyriate￿$s ot accounting used and the reas(xpbkness ofaccounting esbmates and ￿lated d6closuos made by the tharity." To conclTyJe on the apprOP￿tenesS of ￿ chartws L￿e of ￿ g¥Jing conLEm basis of acC￿ntry and. based on the audit Èvidesxe Obtai￿5, ¥thether a mèterial urtert2inty Lyists related to e*nts or ¢orK1itKm5 Ihai may cast siwift￿t (hxjbt on the thantys atmhy *) ¢xmt*iue 0$ a wj a)rrtxrr( To evalu8t8 Ihe overall pfesentatrjn. sththre crmtent ofthe finaroal ststsments. the disck)sures, and whelher the finanaal Slaten￿ rewesent the wMlety"n9 lJaffjadw)ns arnl events in a manner that a fair wesentation. W¢ afe requirEd to r8kV)rt to thg TFus*es ￿rOp￿1￿ as to Yhthether thetroncial statem8nts gNe a true 8t)J f8 ew and have been propety pwared in aC￿Irjance wrth Unrted Wom Gener• fv£cepted A¢uxmtty19 Practice and IhÈ Chartties (ACCO￿lS and Re￿rts) Rewlatth$ 2008. We are a150 requtred lo report to you rf, n ourwn•Jn. Twstees. Annua Report 15 materiafy ir*owstent the finanoal statements. rf ¢he rkniity has not kept adequate a¢o)unkng recxyds. rf thartys ffian(#al statements are not in agreement wth the accounb'ng records and relum5. or rf ￿ haNE not receiv&J all the information and explana￿n$ we rewire tyjr aL*Iit. or * inf0nna1i￿ by law regardng Trustee5' remuneration and transathons with Ihe 15 not disdosed. In addition, we read all the financHI and TrJn-financki1 infLYrnation in Tw5tees' AMmJal Repyt b) idenbfy rnaterial InconsistencEs with the audited ststefflents to hy￿lty any iifomwiK>n lhat k* app•￿fiUY malenalty in￿rrect based on. oi malerialy Ir￿Or￿stent Mth. Ihe kno*ledge acW1￿ ty u5 in the cOu￿e of perfom)in9 thÈ audiL If we become aware ofany appareni fflaierBI mi5stslernents or nconsistencE5 we o)nswJer the impli(2tions lor repo We are required to and ￿rfrffrn ouraudit so as tr) meet Ihe abo¥e reQ￿re￿￿ts aThJ to obtai) al the ififoirnalion and cxplanatK>ns whth we ￿nS￿le{ ne￿SSary in order to prowde US suff￿lent e¥￿enCe kn give reascfiabk a5surdnce that the fjr4antial $taLemenL8 are from materd mS￿leMenL whelher (xused by fraud or ollkr irregLdarity (K er￿r. In the course ol audrt. we (*ffmuni(2te wth Ihose chaw with 9)vernance regarfing. arnong other mattws. the planned scope and tming of the ￿lt an(1 $i￿￿nt avflit fvMIYbg5. indudty any swrf*Ani de￿I￿{￿eS in intemal ￿ntr￿ that we d￿n9 the authL A5Si51ance with accountancy and tax rnatter5 In afxordan￿ wth th& ex0mpl￿n provided by APB Elhical Siandard - PrOVk8￿)n8 Avadabb lor Small•r Enlili•s, we h8ve a58i%t8d with the preparation ofth& attounts. Ellglbllity of auditor and status of audit We confirrn Ihat we are elfgible under section 144121 ol th8 Gharitses Act 2011 to conduct this audit. and that this report Is a report ill [p¥p￿t of an audrt Garried oul Ur￿er Ih& Act and in 8¢cgrdance *ilh I￿ rdated re9ulatLons. Attenlion is drabvn to the aCcoUnt￿g p￿iCY stating that. noTh￿1h$lan￿ln9 the explicrt requirement in Ihe exiani siaiutory regulalioThs. the Charities IAc¢ounts and Report51 Regulations 2008. to prepa￿ the finanual slalem8nts in a¢¢Ordan￿ the SORP 2005. The Trusletrs have prepared the flnancial slalements In a¢wrdonce with the FRS 102 SORP Isiaiemenl of R8cornm8nded Pr8clke for Ac¢tyJniing ReFyJrlin9 by Chan￿8$}2015. (The SORPI. We concur *4th Ihls app￿aCh. and 8ny r8f8rence8 in our report to Ihe regulalions shwld be read subl8cl lo this com￿￿nI. Oplnlon on th• Fln•nGl•l Stat•monts In 4￿order1¢e I￿1h Regulatkjns 25lgl 4nd Ihl of the Charlties (Aecounts and R¢portsl Reg(tlalons 2008, in our opini¢)n the charity'5 financk91 stslements". Glv¢ a tr￿ and f8ir of the state of 8ff8iTS of the ch8rty as at 31 Dec8mbgr 2023 and of tts Incorne and Expendilurg for the financlal year then ended and. in p8rticu18r. the financial 51aternents have been properfy prepared, in 811 material reswts, in aecordance wth Unitsd Kingdom Generamy A¢¢epled Accounling Pracli¢• applicab￿ to gnttties of fts 8YLg anil hav8 bg8n properfy pr?pared In accordarKe thlth the requiremenls of the Charit185 Act 2011.. ano havtr been prepar9d in arKordance the m8thod¥ and prknclp*s reoulrad by FRS102 stole￿nt of Recommonded Practs"ce frjr A¢countlng and Rewting Issu8d by the Ch8rity CornnNssion In England & W8188 ICCEWI, effective J8nuary 2015 (The SORPI. and those m¥lhod$ and principles have befjn followed, $ubj?¢l to the follo￿ng..- Concluslon• r•latlng to golng conc•rn In auditing th& fin8nclal stslern•nt5. we have LvnckJdoLI that lh8 Irustee$' use ol th• golng concem b8s1$ of 8¢¢ountlng in the prepar8ik)n of the In8nclal 8tatementS L$ 4ppropnBIe. B8sed on thp wowk we have performed. we have n¢t ￿entIfied any m8lefig1 Y￿ertaInleS ￿L￿ting to events or conditions th81. Indiv￿1￿41￿ or colkctNety, m8y C8St 5ignrficanl doubl ￿ the ¢h8rity's ability to wnlk)ug 8S 8 goin9 concern for o perW of ot18a5t Nvelve Th?nths from Ihe finan¢lo1 $taletY*nts are authorfsed lor Issuè Our responsibllilb$ and the respon$lblltles olthe trUSte8s￿1th wpe¢tto ￿ing concern are (lescrfbod In ihe rel8van¢ sections of thls report. Platters Y*hich we art rwulred ltr reptyt by exc•pts'on We hav8 nothing to report in rÈÈp8ciol the l(kning matters Tkne Ihe requirn5 U5 lo rvpcrt to you, IF fft our opinKn.' thé inlomwtion given in Ihe Trvsteos. Annual R•pNI 15 I[￿n51￿￿￿t With tho financ4al stAlèmènts in any rnaterial rest*ct.' or th8 charity has not kept *4eou8t• •Xl￿nI"l￿] roccrfd5'. or the finawl Strtem￿lS arn 8￿ft￿nI **th tho accounting recLwds aTrJ r•lwns', or if inforn)alion spwfled by k8w re9ardRw TnJsts05 rernurornlbm aTrJ Iran¥ath)ns *4th tho charity 15 rK)t ¢Jisclosed. we ha￿ not Ned iiformik*n •%J •xpknnaliJns l¢Y wr audrt. Aniho roft Audrtors ACCAI St?￿d Aud. 343, City Rood L EC1V 1LR 24" 4)rt12024 Anihony Croft Ez8kig1 Ltd Ofo o11gibl• ts 8PPObnlm8nt as ¥udrtor olth• eharrty by virtuo of M ellgibllty l¢x •ppoinlment as 8uditor ol • cornp&ny under sectk)n 1212 01 Ihg CompanN85 Act 2006 noon CHRIST CHURCH SOUTHGATE PCC Statement of Financial Activities For the year ended 31 December 2023 No¢•$ Unrestrlrtèd Restrlcted funds 2023 2022 InGomg and ondowrn#nts from.. Oonalion5 and leg8cies Charitable act￿1118$ Invesirnents Oiher Income 35.096 169.263 13.997 54.075 9,553 4.303 356 44,649 173.568 14,353 54.075 12.492 181.292 13.774 51,912 Total 272.431 14212 266.643 259.470 ExpendltLbro on: Ch8ri18ble aclivi1198 Other expendlture Tot•1 1227.2941 12,4351 1229.7291 140.7991 1268,0931 1274.0171 12.4351 1270.5281 1285.0291 140.7991 Net gsln¥lllo$se81 on Invg8tmenl¥ 41,971 1,120 43,091 161,1081 Tran¥hrn bplwwn lund8 Othor r•¢ognl••d 9aIn•ll￿¥•4 Galnslllosse51 on r¢¥alu8lon ol fixed as$et$ and dlsposal ol Depre¢iallon 781.721 781.721 82.821 N•t mtsvemDnt In lund• 866,394 125,4671 840,927 13,8461 R•Gon¢lll•tlon of fund8 Total funds brought fowword 2.992.335 359,371 3,351,708 3,355.552 Total fund• c•rrlgd forward 3,858.729 333.904 4.192,633 3.351,706 10 CHRIST CHURCH SOUTHGATE PCC Statement of Finanual Position As at 31 December 2023 2023 2022 Flxed ass•ts Tan9ible assets Investments 11 1.706.141 2,001.094 1.582.692 1,300.742 1*13114 3.707.235 2.883,434 Current a••gts Oeblors 15 1,789 489.917 1,550 472.957 Cash al bank and In hand 491,708 474.507 Cr•dlt+y*: •mounts f•lllno T*llhln y••r 18 16.3081 16.2351 Not Curront a%¥•t• 485.398 468.272 Totsl as••ts l•a* ¢urr•nt lknbllths 4.068.1n 3.351.706 Ngt a¥¥•ts 4.192.633 3.351.706 Th• funds of thg charlty Reslrict8d incotne fund5 17118 333,904 3.357.635 359.371 UnrOSlrfctod Sncome lunds Enos8s 01 th• PCC. Th15 Includes fund8 d8￿gnated lor a p8fikular by Ihe PCC. Th• ¥ccount$ Indudg tr•ns8¢tbn$. •$s¢ls and Ilabllitl8¥ fgr vthich PCC can be hehj iesponsible. They do nol inckjde the a￿O￿nts of church groiips that own an affliatioTh lo another body, nor those that are Infomial galhefkngs ol church membgr5. The Rostrlcled funds rek8le In the maln to Ihe Fahi¢ Appeal luThd5 loi the maintenanee ollhe ehuTch bulding. The mbjor part of these fvnds were held on depogl wilh th¢ Central Board ol Finance ol the Church ol England. The Endowment Funds sep#rnt8d into. P•rm•n•nt Restrl¢t¢d. Pern￿￿ent Unrethcted. Non-perrnan8nl Endowment Unresiri¢lvd 8nd Nonymanent Endowrnenl Restricted. as broken down in nol* 18 bekjw. In¢omlno r••our¢•• Voluntary Income Collections 8re recogni5ed when m•de. Amounts r¢¢gfvgble under Gift ￿'d 8rB rwl$od orty ￿1Ved. Income 18x rècoverable on Gfft Ald donatyons are recogni$•d wh•n d•lmed trom HIA Revonuo and Custom*. Grants and legacies lo Ihe PCC arts a¢¢ount&d for when received. VAT r￿0veralle on certain caprtal eXpendrtU￿ s ￿cOgnised *then Teceivèd. Inc0rn8 from char￿ab￿ Actwiljes Rental intome from Ihe ￿tting 01 the ChU￿h hals 15 accounleok valu•s Al 31 Decemb•r 2023 1.700,000 6,141 1,706,141 At 31 December 2022 1,575,540 T,152 1.582,692 Following 8 3rd p8rty V&￿atIOn earrled oul. of the 858818 8bove have been adjusted trj reffect the curTent rn8rk8t valuo ¢corda￿ wlh FRS102 guhl81ine5. Inv•slmgnt• 12. An4lysl• of M0￿m•Trt of ¢omm•rclo1 Inv•stm•n¢• lttv••lm•nt piop•rty L18t Inv•otmont• Totsl Market value 8101 J8nu8ry 2023 Dispos915 at corylng value 842,739 458.003 1.300.742 Net g81nlllos$l on rev81u8tlon 657,261 43.091 700,352 Market value at 31 Decèmber 2023 1,500,000 501.094 2.001,094 F01b￿ng a 3rd paty valuatwjn ¢artsd otrt, Ihe valuès of the a¥sets abovo h&ve been adjusted to r8fio¢t thè currgnt market valuo In ac(xird8nce ￿th FRS102 guldèlines. 13. Analysls of Snve¥tm•nts between funds a8 at y•ar gnded 31 D•¢•mber 2023 Unr•strlct•d funds Endowrnont funds 2023 2022 Investment propertitr8 Listed inveslments 1,500.000 1,500,000 501.094 842,739 501.094 458.003 1.500.000 SD1.094 2.001.094 1.300.742 14. AnalysTr5 of movement of ¥ocial Investments Th8re were no movemeThts sn so¢01 inveslment thts year 17 CHRIST CHURCH SOUTHGATE PCC Notes to the Financial Statements Continued For the year ended 31 December 2023 15. Dabtors 2023 2022 Amounts due wlthln ong ygar: Trade debtors and Prapaym8nts 1.789 1,550 1.789 1.$50 16. Crodltor¥ 2023 2022 Amounts falllng dug wlthln ono y•ar'. Trade cr8dltOf5 and A¢cYua 6.308 6.235 8,308 0.235 17. Mo¥•nwnt sn fvnd• Unr•$trl¢t•d •nd EndowM•nt Fund• 8•l•nc• •t 0110112023 Incoffllng r•sour￿$ Outgolng rn•ourc•¥ Transhr• Galn• ond lo•s•s Bblanc• at 3111212023 General De5ign8ied Fun¢$ General Funds 12,1 2.980.235 12.100 3,646.629 272.431 1229.7291 823,692 2,992.335 272,431 1229.7291 823.692 3.858.729 Unr•8trlcted and Endowm•nt Funds - Pr•vlou¥ y••r Balan￿ at 0110112022 In¢omlng r•sourc•s Ou¢golng r•#oure•• Tran•fer• Goln• and koJ8e• Balance Bt 3111212022 Gen•r41 Designatèd Funds General Funds 1 5.748 13,6481 1233.6841 12,1 2,980,235 2,947.082 243,538 23,301 2.962.830 243,536 1237.3321 23,301 2,992.335 18 CHRIST CHURCH soufHGATE PCC Notes to the Financial Statements Continued Fo¥ the yèar Ènded 31 Oetember 2023 Purpos• of unr•strfj¢t•d Funtts Unrestrieted lunds includes the res8twe policy fund alocaled by the trustees in Iheir reporL Designated Funds These are funds set aside by the PCC . Southgate, for spe¢rTrc proje¢ls. G•neral Funds Th858 ar8 free res8￿8S al th8 disposal of the PCC- Southgato. to be applled at thelr dlscreuons but withln the obje¢l$ of Ihe Church. R•strlGt•d Fund• 8alanc• at InGomlng r•soiif¢•$ Outgolno G•ln$ and Balance at 0110112023 3111212023 Rgjlrtded Fund8 3S9,371 14,212 140,7991 1.120 333.904 359,371 14.212 140,7991 1.120 333.904 R••trl¢t•d Fund• - Pr•vlou• y••r B•l•n¢• •t 0110112022 Incomlng r••ourc•* 0￿¥01￿9 resourc•* G•ln• and Bal¥nc• at 3111212022 Rostrfthed Funds 392,722 15.934 147,6971 11.5881 359.371 392,722 IS,934 147.6971 11.5881 359,371 Purpo8• ol r••trl¢t•d fund• Restricted Funds The58 are lunds reslrl¢t¢d by the donors of the Church Purpts$• Of •nthvment funds Perrnan8nt Endowment Restrlcled This is 8 Permanenl Endowment Fund Permanent Endowment Unrestricted This is a Perrnarbenl Endowment Fund Non-Perrnanent Endowment Unrestricted Non-Permanenl endowment Un￿51￿Cted, ils expendable. Non-PeTmanenl Endowrnent Restricted Non.Permanènl endowment Restrided. its expendable. 19 CHRIST CHURCH SOUtHGATE PCC Motes to the Financial Statements Contsnued For the year ended 31 December 2023 18. Analysis of net 4ss•ts bet¥Men fvnds Tangth Inv881menl• fix¢d a¥¥• NÈttllfterbl •¥sets1 fli**ilibesl Net A3iet5 Vnr•strl¢tsd lund8 Genwal Fw)d6 1.706.141 1.SOO.O( 151.494 3.357.635 R95trlctsd fwKIs R8Strieleil FuTrJs 333.904 333.904 End¢)wm•nt funds P6rm8n•ni Endowment Rtsstrtcted Permanent Endowrnent Unr•sirtet•d 218.593 218.593 Non-Pefmangni EndowTh•nt Unrtsirkied 269.480 269.480 Non-Permanent Endowment Restykted 13.021 13.021 1.706.141 2.1101.094 485,YJ8 4.192,633 Pr•v10￿ y••r M•t ¢urr•nt N•t AIM¢• flx•d •*••t• Ol•bWltl•BI Uni•¥trfei•d fund• Gether¥l Funds 1.582.892 842.739 108.901 2.534.332 R•8trl¢t•d fund• Restricted Fund$ 359.377 359.371 Endowm•nt funds P•rrnan•nt Endowmènt Reslrtle(I 8.017 ,017 Permanent Endowmtnt un￿$t￿Cle 199.796 199.796 Non-Pemianent End0￿Ment UnreslrKied 246,305 246.305 Non-Permanent EndowThent Restrthd 3.eB5 3,885 1.$82.692 1.300.742 468272 3,3$1.706 CHRIST CHURCH SOUTHGATE PCC Notes to the Finanual Statements Continued . For the year ended 31 Oecember 2023 19. D•t4ileil irKoffl• and •xpenditur• for tho y•ar w¥Jod 31 D•c•mb•r 2023 2023 2022 Income Lk)nalions aTh11oga￿s Char51ab￿ aclivrtlgs 44.649 12.492 173. 181.292 Investments 14.3S3 13.774 Other inr))n 54.075 51.912 Totol I￿oM• 286.643 259.470 Expvndlturo Oiocesan Quota 87.775 chU￿h ￿￿eMIseS c08ts chU￿h maintenance 25.957 24.281 5.268 Cler9y. ¢hoir and ¥eThice expenses Events. youth oulreach LICe￿e6 11.328 1.983 1.271 613 Fobrl¢- m8lor Items rethctod Othgr rgstnctsd expenses Charity Donatior Church suppl Church D8vehJprnenl proigct Pad6h centfy prerni5es COB15 Part*h centre rnalnfenBnce oJ8t• 35.480 32.14S 5.319 7.458 374 374 2.254 778 3.848 16.260 14.297 5.460 5.615 P8rish Centre m8lor woth$ Social ReS￿Sibl￿ -th0rf1oble g￿l¥d orn1 c415ts Stories ol Enfield HLF Grnnl 4.718 9.811 10.473 7.187 Adrnin costs 7.749 Stsff costs 25.133 21.258 Legal & wotsssicffial cc6ts Parish Centre£are¢aker SeMc6 Curtrncl 7.370 7.480 13.814 14.535 Sundry Spire off￿8 suppues Bank charggs Audlt an(1 a¢courtan¢y I Depre￿a10ft Total c￿n1*b￿ aetiviti•8 1.0( 1.229 856 605 261 222 5.760 5,760 1.503 1.083 268,093 274.017 Tol•l Oth•r •xp•ndTrtur• 2.435 11.012 Tvt•l *xp￿dI1urn 270.528 285.029 21