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← The Parochial Church Council Of The Ecclesiastical Parish Of St Johns, Southall Green

2024-12-31-accounts

Docusign Envelope ID: 3CF8253C-F7EC-48AB-9A3C-160924A438F6

PARISH OF ST JOHNS, SOUTHALL FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 Registered Charity reg no 1132155

Contents

Section
Independent Examiner’s Report 1
Statement of Financial Activities 2
Balance Sheet 3
Notes to the Financial Statements 4
Detailed Statement of Financial Activities 14

Docusign Envelope ID: 3CF8253C-F7EC-48AB-9A3C-160924A438F6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARISH OF ST JOHNS SOUTHALL

I report on the accounts for the year ended 31 December 2024 set out on pages 2 -16.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

It is my responsibility to:

Basis of the independent examiner's report

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

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

…………………………………………….

Rev. David M Green FCA Gowers Limited Chartered Accountants The Old School House Bridge Road Hunton Bridge Kings Langley Herts WD4 8SZ

17-Apr-2025 | 1:00 AM PDT Date:. ………........

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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

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BALANCE SHEET WITH FUNDS

AT 31 DECEMBER 2024

The financial statements were approved by the Board of Trustees on 19[th] March 2024 and were signed on its behalf by:

-—— DocuSigned

……………………………….

16-Apr-2025 | 4:06 PM PDT

Neelam Sidhu, Church Warden

-—— DocuSigned by: (Luvistiva ……………………………….. Masilr Alfred.

— 2A675F4AE26B4E4... Christina Masih Alfred, Treasurer

16-Apr-2025 | 2:36 PM PDT

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities, the Charities SORP (FRS102).

Incoming resources

all incoming resources are included on the Statement of Financial Activities when the charity (PCC) is legally entitled to the income and the amount can be quantified with reasonable accuracy. These consist of standing order, loose, envelope donations by current and previous members of the congregation.

Voluntary income and capital sources:

Collections are recognised when received by or on behalf of the PCC

Planned giving receivable under Gift Aid recognised only when received

Tax reclaims on donations and gifts:

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

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.

Incoming resources with related expenditure:

Funds raised by the fete, garden party, sales of books, magazines from the church bookstall and similar events are accounted for gross.

Other ordinary income:

Rental income from the letting of church premises is recognised when the rental is due.

Income from investments:

Interest is accounted for on a receivable basis.

Gains and losses on investments:

Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December.

Volunteer help:

The monetary value of any voluntary help received is not included in the accounts.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Cost of the preparation and examination of statutory accounts.

Tangible fixed assets

Depreciation is provided to write off each asset over its estimated useful life.

Consecrated land and buildings and movable church furnishings:

Consecrated and beneficed property is excluded from the accounts by s10(2)(a) of the Charities Act 2011.

Other tangible assets:

Other tangible assets are depreciated on a reducing balance basis at a rate of 20%. Some items have been fully depreciated.

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Parish of St Johns Southall

Property revaluation

The long leasehold property is included in the Balance Sheet at the estimated market value as valued on the 26[th] January 2018.

Taxation

The charity is exempt from tax on charitable activities.

Fund accounting

General Unrestricted 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 particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.

The accounts include all transactions, assets, and liabilities for which the PCC is responsible in law. They do not include accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

NOTES TO THE STATEMENT OF FINANCIAL ACTIVITY

Note 1: Voluntary income

2024 saw a slight decline in regular giving. There was a move in people leaving and joining the church which in turn impacted the giving. However, this did not impact our Gift Aid as there were some donations from 2023 that needed to be claimed.

The church was gifted a legacy from a beloved church member. The Trustees chose to allocate 85% of the legacy to a designated fund and 15% towards an AV & Tech overhaul project. The Trustees asked the Standing Committee and Finance Committee to prepare a proposal on how the designated amount could be used. The team are currently working on this. In 2025 the 85% will be moved into a short term high interest investment fund via CCLA who we already hold investments with (see note 10).

Note 2: Investment Income

The increase in investment income is due to cleaner allocation of the interest, dividend and returns from investment for 2024.

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Parish of St Johns Southall

Note 3: Incoming resources from charitable activities

Non recurring grants include; the final payment from CCX towards the Pioneer Planting rental costs, previously supporting Idina in her pioneer role.

Other funds generated includes the annual support from the Mission Zone towards the operational roles in the church, £51k. We’d also received £9k from the ULEZ scrappage scheme as we disposed of the Vibe van. The funds have been put back into the Vibe restricted fund. £2.5k was restricted donations from congregation members towards the AV-Tech overhaul project.

There was an increase in the car park space hire due to an increase in hire spaces.

There was a reduction in the curacy house rent due to the house being vacant for 3 months in between tenants. The Trustees decided to use this opportunity by investing in some repair and upkeep work at the house.

This year the church hall lettings have been split between regular and one off hire in order to have better transparency of how the revenue streams are performing and the benefits of these activities.

Lastly the Mission Zone recharge income was lower this year due to cost savings made in administrative usage.

Note 4: Costs of generating funds

This was a new account set up in 2024 where there was a separation of the cost of hall hire for one off events, includes; caretaking, security and cleaning. These are charged out to the hirer as part of the lettings charge.

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Note 5: Charitable activities

The Common Fund increased on 2023 as the Trustees committed to cover 100% of their costs. The 2025 Common Fund is set at £99,980. The Trustees have committed to £94,980 of their costs, 95%, for 2025 with a view to meet the balance later in the year if possible.

A large investment was made in building maintenance which includes; planning and administrative costs for the railings on Church Avenue side, rebuilding the substation wall, renovating the basement, vestry and the main hall. Essential works were also required for the church roof and the curacy house.

Staffing costs appear to have increased significantly however this is largely due to the start dates of the Operational team. They started their roles around August/September of 2023 and have been in place for the whole of 2024. Grace joined us as our Church intern supporting in various ways including the Youth, Children and weekday ministries.

Church maintenance and cleaning costs have increased in 2024 as the Trustees have committed to aligning with the legal standards required of an organisation to meet its risk, health and safety responsibilities. Examples of tasks include car park door repair, pest control, heaters, electrical upgrades, tree removed from carpark and offset, gas leak and repairs, water safety checks, risk assessments, etc.

At the end of 2023 the Trustees moved utility supplier to Southern Electric and a better rate and a more environmentally friendly package, leading to a cost savings in utility bills.

There was a smaller spend in home mission due to; firstly, the Trustees are looking for a new lead on our Eco-Team after Kailean leaving this has meant the budget wasn’t utilised in 2024. 2023 saw some investment in equipment for Children’s ministry, SEN, Messy Church and Little Angels so there was less in 2024. 2023 had more trips than 2024.

Administration costs include mortgage interest £12k, ‘subscriptions, fees and licenses’, IT costs and general supplies.

In 2024 the giving to mission societies included the Mission Partners, Grenada relief fund, Al-Ahli Gaza hospital, Kongsai’s and Manipur, NE Indian Community support.

Note 6: Governance costs

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TRUSTEES’ REMUNERATION AND BENEFITS

EMPLOYEES

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NOTES TO THE BALANCE SHEET

Note 7: Fixed Asset Investments

Note 11: Tangible Fixed Assets

New TV screens were purchased for the Church’s tech overhaul. This project is currently on hold whilst the Church floor is repaired as this impacts the wiring loops. There were also a balance on the sound equipment bought over 5 years ago which should’ve been fully depreciated by now hence a larger depreciation value than expected.

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Note 12: Cash at Bank allocation

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Note 13: Debtors – amounts falling due within one year

Note 14: Creditors – amounts falling due within one year

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Note 15: Creditors – amounts falling due after one year

Note 16: Movement in funds

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2. ULTIMATE CONTROLLING PARTY

The charity is controlled by the members of the PCC

3. CHURCH WORKERS PENSION FUND (CWPF)

St John's Church (Southall Green) PCC (PB2014) CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.

CWPF has two sections:

  1. the Defined Benefits Scheme

  2. the Pension Builder Scheme, which has two subsections;

a. a deferred annuity section known as Pension Builder Classic, and,

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2024: £3,532, 2023: £2,243).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022.

For the Pension Builder Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2025, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 2.7% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2024. There is no requirement for deficit payments at the current time.

The next valuation is due as at 31 December 2025.

For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The legal structure of the scheme is such that if another employer fails, St John’s could become responsible for paying a share of the failed employer’s pension liabilities.

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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

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