2022-12-31-accounts

Charity number: 1132166

THE HOLY INNOCENTS AND ST JOHN

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

THE HOLY INNOCENTS AND ST JOHN

CONTENTS

		Page
Reference and administrative details of the Charity and advisers (followed by PCC
report)
Independent examiner's report		1
Statement of financial activities		2
Balance sheet		3
Notes to the financial statements		4 - 17
Charity registered
number	1132166
Principal office	Paddenswick Road
	London
	W6 0UB
Accountants	Griffin Stone Moscrop & Co
	Chartered Accountants
	21-27 Lamb's Conduit Street
	London
	WC1N 3GS
Bankers	HSBC
	60 Albert Road
	Middlesbrough
	TS1 1RS
	CAF Bank
	25 Kings Hill Avenue
	Kings Hill
	West Malling
	Kent
	ME19 4TA
	Virgin Money
	Jubilee House
	Gosforth
	Newcastle Upon Tyne
	NE3 4PL

THE HOLY INNOCENTS AND ST JOHN

PCC Report for the year ended 31 December 2022

PCC members for the year ended 31 December 2022:

Rev David Matthews Rev Paulette Mullings Jane Jales Robyn Gray – resigned as Churchwarden 03.04.22; reappointed as PCC member 03.04.22 Joe Gordon – Churchwarden Resigned 03.04.22 Anthony Biggs – Churchwarden Appointed Churchwarden 03.04.22 Paul Carvajal – Churchwarden Appointed Churchwarden 03.04.22; resigned 01.09.22 Oliver Pearcey Caroline Gordon – Treasurer Janis Cammell OBE Sam Davies Resigned 08.02.22 Marcia Hill Jamie Carter - Secretary James Copeman Resigned 09.06.22 Claudette Gray - Acting Churchwarden (appointed 09.10.22)

Trustees’ report

David Matthews continued as the priest of the Parish. He has been the incumbent since 2003. He holds the freehold. The Rev Paulette Mullings continues with the Parish as an ordained priest, and shares the responsibility for conducting services with Father David. Jane Jales continued as a licensed Lay minster, having been first appointed on 15.6.17.

On 08.02.22 Sam Davies resigned from the PCC. At the Annual Parochial meeting on 3 April 2022 Robyn Gray and Joe Gordon both resigned as Churchwardens. Robyn Gray was reappointed as a member of the PCC at the same meeting. Anthony Biggs was appointed as a Churchwarden at the same meeting. Paul Carvajal was appointed to the PCC and as a Churchwarden at the same meeting. On 09.06.22 James Copeman resigned from the PCC. On 01.09.22 Paul Carvajal stood down as Churchwarden and resigned from the PCC. At the PCC meeting on 09.10.22 Claudette Gray was appointed as acting Churchwarden for the remainder of the year.

Jane Lawrence continued as Electoral Roll Officer. The Children’s Safeguarding Officer continues to be Louise Wilson. Louise Corser was appointed as Children’s Champion following Ella Burns’ return to the USA. As at 31.12.22 the PCC membership comprised: Rev David Matthews, Rev Paulette Mullings, Jane Jales, Robyn Gray, Anthony Biggs, Oliver Pearcey, Caroline Gordon, Janis Cammell OBE, Marcia Hill, Jamie Carter and Claudette Gray.

PCC meetings were held on the following dates: 11.01.22; 13.03.22; 03.04.22; 19.06.22; 24.07.22; 21.08.22; 09.10.22; 04.12.22.

The Electoral Roll

The number of people on the Electoral Roll as at 31 December 2021 was 315. As at 31 December 2022 there were 327 people on the Roll: 12 were added and none removed. The Electoral Roll remains an essential tool for all the Parish’s mission related activities and stewardship. The General Data Protection Regulation 2018 has implications for the administration of the Electoral Roll and are taken into account on its use. The new Electoral Roll was last prepared in 2019 and so a new roll will not be prepared until 2025.

Fabric Report

2022 has seen the church begin to find its feet again after the Covid pandemic years 2020-21. Since the lifting of the first lockdown in July 2020, Holy Innocents has remained open with regular in-person services and activities, but 2022 began with continued restrictions in place: no communion to be received by the congregation, no choir or singing, no junior church and no tea/coffee gathering. UK Restrictions were fully lifted by March 2022, although mask-wearing remained in place in church until Easter to protect vulnerable members of the congregation.

i

THE HOLY INNOCENTS AND ST JOHN PCC Report for the year ended 31 December 2022

Responsibility for the administration of Holy Innocents has been held by Hanno Dreyer, on a freelance basis up to September 2022. It was agreed by the PCC that Hanno will continue in this role for a further year, with a review in May 2023.

The bookings for the Upper Hall have slowly improved with the return of regular hirers such as Theatre Royal Bath and Neville Holt Opera, and new hirer Turtle Key Arts. Alongside our regular bookings in the Lower Hall, we have added First Filipino Baptist Church of London and SLAA. The West Hall and the Old Vestry, which were booked from January-July by Dalling Montessori, were empty for the rest of the year when the nursery left. There was interest from West London Free School to book The Lower Hall, West Hall, and Old Vestry for its junior school for 2023 @ £40,000 per annum (now confirmed start date 1[st] March 2023).

Routine and scheduled maintenance has been carried out along with some unscheduled repairs and minor works. These include the refurbishment of the accessible toilet. Other work included the installation of a new air-purifier (proven to hinder the spread of Covid19 and H1N1 Virus) in the Lower Hall, new LED light bulbs in the Upper Hall. and a new WIFI router with significantly increased broadband speed. The new kitchen in the Lower Hall has been greatly appreciated, and improvements to the Upper Hall kitchen, including a new hot water unit, are planned.

The subsidence claim for 125 Dalling Road was advanced with GHG Solutions acting on behalf of the insurance company, and a start date of 1[st] May to begin works was agreed with contractors Underpin and Makegood Ltd. On 5[th] December the tenants of the two flats were given notice to vacate the property by 30[th] April 2023. Once works have been completed, the intention is to refurbish the properties and rent at market rate. There has been ongoing concern about the state of the Vicarage, which needs significant work to bring the property up to standard including a new boiler and double glazing, and the property department of the Diocese is aware of this.

To save costs, there has been no garden contractor, and gardening has been undertaken on an ad hoc basis by members of the congregation. The trees to the north side will require some pruning in 2023 to prevent shedding of leaves into the church gutters.

Routine scheduled maintenance and inspections.

	Date		Supplier		Description
	2/2/22		Young & Young		Alarm Service
	2/2/22		W. Larkin Ltd.		Lightening Conductor Test (every 2 years)
	26/5/22		Markson Pianos		Tune & adjust UH piano
	9/6/22		Markson Pianos		Tune & adjust LH piano
	21/7/22		Office Works		PAT Testing
	25/7/22		Jacques Samuel		Tune & adjust grand piano
	11/10/22		Independent Heating		Heating Service
	8/11/22		Wintle Organs		Organ tuning & adjusting
	10/11/22 4 Quarterly visits		Chubb LBHF Council		Fire extinguisher service Pest control

ii

THE HOLY INNOCENTS AND ST JOHN

PCC Report for the year ended 31 December 2022

Unscheduled repairs

	Date		Supplier		Description
	27/1/22		City Boiler Repairs		New water pump fitted for Upper Hall boiler (wet heating system aka radiators).
	14-19/2/22 21-24/2/22		Hired fan from HSS. Potok Builders Ltd.		Dried out water-stained wall in church with industrial fan heaters. Refurbishment of disabled toilet.
	15/3/22		Titian Studios		Pascal candle holder repaired. This was claimed under insurance.
	2/7/22		Adrian Dreyer		Broken fence post at North side garden entrance replaced with new one.
	22/8/22		Green Electrical		Remedial electrical work carried out in West Hall.

Financial Review

The accounts for the year ended 31 December 2022 include the Statement of Financial Activities, which shows where income has been generated, and how it has been spent, and a Balance Sheet showing our financial position as at 31 December 2022, in terms of assets, monies due and monies owed. The notes to the accounts give more detail on this analysis and also explain the accounting policies used in the accounts.

Our income has increased in comparison to last year, which is as expected with COVID-19 restrictions lifted. However rentals are not yet up to pre-pandemic levels. Upper Hall rentals were 15% less than in 2019.

The rising energy prices are reflected in our gas charges which rose to £12,435 (2021 -£7,943) and will continue to rise in 2023 as our current contracts expire and we are put on to the new higher charges.

After the limited ability to have choral performances during the pandemic, it was wonderful to have a full music program in 2022, funded by generous donations.

The General Fund continues to have a positive balance which is in line with our reserves policy to have funds on hand to cover emergency situations which may arise.

Reserves Policy

It is the PCC’s aim to maintain a balance on unrestricted free funds (if possible), which equates to approximately three months unrestricted general fund payments, to cover emergency situations that may arise from time to time and to ensure sufficient funds are available to cover running costs. As at 31 December 2022 the general fund is reporting a cumulative surplus of £176,169 (2021 - £178,062). With general fund expenditure amounting to £177,708 for the year, the balance held on the general fund at the balance sheet date would cover 11 months of general fund expenditure, which meets our reserves policy target. The PCC seek to continually improve the financial position through encouraging an increase in giving to the general fund, whilst attempting to reduce the costs of the day to day running of the church buildings.

iii

THE HOLY INNOCENTS AND ST JOHN PCC Report for the year ended 31 December 2022

Structure, governance and management

Constitution

The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Councils (Powers) Measure 1956.

The Church is a charity registered with the Charity Commission under its full name of The Parochial Church Council of the Ecclesiastical Parish of Holy Innocents and St John, under registration number 1132166.

Method of appointment or election of Churchwardens and PCC members

The method of appointment of Churchwardens and PCC members is set out in the Church Representation Rules.

This report was approved by the PCC, and signed on its behalf by:

................................................

Rev David Matthews, Incumbent

Dated: 12 March 2023

iv

THE HOLY INNOCENTS AND ST JOHN

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Independent examiner's report to the Trustees of The Holy Innocents and St John ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.

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').

I report 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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 2011 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 5 April 2023 Richard Hill FCA

Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Page 1

THE HOLY INNOCENTS AND ST JOHN

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note Income from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net (expenditure)/income before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Restricted funds 2022 £ 409 - - - 409 2,456 2,456 (2,047) (934) (2,981) 88,902 (2,981) 85,921	Unrestricted funds 2022 £ 69,774 85,326 1,495 23,712 180,307 177,708 177,708 2,599 (6,042) (3,443) 1,234,755 (3,443) 1,231,312	Total funds 2022 £ 70,183 85,326 1,495 23,712 180,716 180,164 180,164 552 (6,976) (6,424) 1,323,657 (6,424) 1,317,233	Total funds 2021 £ 76,884 74,124 2,026 23,131
				176,165
				134,639
				134,639
				41,526 6,775
				48,301
				1,275,356 48,301
				1,323,657

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 4 to 17 form part of these financial statements.

Page 2

THE HOLY INNOCENTS AND ST JOHN

BALANCE SHEET AS AT 31 DECEMBER 2022

Note Fixed assets Tangible assets 9 Investments 11 Investment property 10 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds	30,307 245,601 275,908 (25,885)	2022 £ 1,527 65,683 1,000,000 1,067,210 250,023 1,317,233 1,317,233 1,317,233 85,921 1,231,312 1,317,233	21,724 246,551 268,275 (19,186)	2021 £ 1,909 72,659 1,000,000
				1,074,568 249,089
				1,323,657
				1,323,657
				1,323,657
				88,902 1,234,755
				1,323,657

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Caroline Gordon Honorary Treasurer Date: 12 March 2023

The notes on pages 4 to 17 form part of these financial statements.

Page 3

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" issued in October 2019, the "Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)" and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Holy Innocents and St John constitutes a public benefit entity as defined by FRS 102.

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is also recognised when received. Income tax recoverable on Gift Aid donations is recognised when the underlying income is recognised.

Rental income from the formal letting of church premises is recognised in the statement of financial activities in the accounting period to which the rental pertains. Rental invoices are issued in advance of the rental period and, consequently, rentals invoiced on or before the balance sheet date in respect of future periods are carried within deferred income.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.

Expenditure on charitable activities comprises costs incurred in the church's operations, including support costs and governance costs apportioned to charitable activities..

Grants payable are charged in the year when paid over, or when awarded, if that award creates a binding obligation on the PCC.

All expenditure is inclusive of irrecoverable VAT.

1.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

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THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies (continued)

1.5 Tangible fixed assets and depreciation

Consecrated and beneficed property is excluded from the accounts by section 10(2)(c) of the Charities Act 2011. No value is placed on movable church furnishings held by the church wardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the statement of financial activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures and fittings	- 20% reducing balance basis
Office equipment	- 20% reducing balance basis

1.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliabily in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Net gains/(losses) on investments’ in the statement of financial activities.

1.7 Debtors

Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

1.8 Cash at bank and in hand

Cash at bank and in hand includes cash only.

1.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the church anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

Page 5

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies (continued)

1.10 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments (including debtors and creditors) are initially recognised at transaction value and subsequently measured at their settlement value.The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the PCC in furtherance of the general objectives of the Church and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Church for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

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THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Income from donations and legacies

Donations Grants Income tax recoverable on Gift Aid Donations Grants Income tax recoverable on Gift Aid	Restricted funds 2022 Unrestricted funds 2022 £ £ - 54,292 409 3,739 - 11,743 409 69,774 Restricted funds 2021 Unrestricted funds 2021 £ £ 4,012 53,549 5,597 1,067 933 11,726 10,542 66,342	Total funds 2022 £ 54,292 4,148 11,743
		70,183
		Total funds 2021 £ 57,561 6,664 12,659
		76,884

3. Income from charitable activities

Unrestricted funds 2022 £ Fees from weddings and funerals 2,042 Sundry income 392 Rental of church hall 67,354 Rental income from nursery 15,338 Ground rent 200 85,326	Total funds 2022 £ 2,042 392 67,354 15,338 200
	85,326

Page 7

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. Income from charitable activities (continued)

Fees from weddings and funerals Sundry income Rental of church hall Rental income from nursery Ground rent	Unrestricted funds 2021 £ 2,305 95 60,686 10,838 200 74,124	Total funds 2021 £ 2,305 95 60,686 10,838 200
		74,124

4. Income from other trading activities: Fundraising Income Income from fundraising events

Unrestricted funds 2022 £ Fundraising events 1,495 Unrestricted funds 2021 £ Fundraising events 2,026	Total funds 2022 £ 1,495
	Total funds 2021 £ 2,026

Page 8

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

5. Investment income

Unrestricted funds 2022 £ Rental income from investment (net of letting fees) 20,976 Dividends and interest 2,736 23,712 Unrestricted funds 2021 £ Rental income from investment (net of letting fees) 20,976 Dividends and interest 2,155 23,131	Total funds 2022 £ 20,976 2,736
	23,712
	Total funds 2021 £ 20,976 2,155
	23,131

6. Analysis of expenditure on charitable activities

Summary by fund type

Church Activities Church Activities	Restricted funds 2022 Unrestricted funds 2022 £ £ 2,456 177,708 Restricted funds 2021 Unrestricted funds 2021 £ £ 5,569 129,070	Total 2022 £ 180,164
		Total 2021 £ 134,639

Page 9

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Analysis of expenditure on charitable activities (continued)

Summary by expenditure type

Depreciation 2022 £ Church Activities 382 Depreciation 2021 £ Church Activities 477	Other costs 2022 £ 179,782 Other costs 2021 £ 134,162	Total 2022 £ 180,164
		Total 2021 £ 134,639

7. Analysis of expenditure by activities

Church Activities Church Activities	Church activities 2022 £ 142,068 Church activities 2021 £ 105,820	Grant funding of activities 2022 £ 2,033 Grant funding of activities 2021 £ 2,509	Support costs 2022 £ 36,063 Support costs 2021 £ 26,310	Total funds 2022 £ 180,164
				Total funds 2021 £ 134,639

Page 10

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Depreciation Diocesan quota Services General repairs and maintenance Insurance Heat, light and other services	Church activities 2022 £ 382 85,200 17,008 16,354 8,526 14,598 142,068	Total funds 2022 £ 382 85,200 17,008 16,354 8,526 14,598
		142,068

Depreciation Diocesan quota Services General repairs and maintenance Insurance Heat, light and other services	Church activities 2021 £ 477 48,000 10,637 28,263 8,278 10,165 105,820	Total funds 2021 £ 477 48,000 10,637 28,263 8,278 10,165
		105,820

Page 11

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Office expenses Telephone Administrator fees Professional fees Cleaning and gardening Bank charges Governance costs	Support costs for church activities 2022 £ 1,683 1,094 20,920 1,235 8,063 248 2,820 36,063	Total funds 2022 £ 1,683 1,094 20,920 1,235 8,063 248 2,820
		36,063

Office Expenses Telephone Administrator fees Professional fees Cleaning and gardening Bank charges Governance costs	Support costs for church activities 2021 £ 1,597 948 9,949 674 10,210 292 2,640 26,310	Total funds 2021 £ 1,597 948 9,949 674 10,210 292 2,640
		26,310

Page 12

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. Analysis of grants

Grants paid Grants paid	Grants to Institutions 2022 £ 2,033 Grants to Institutions 2021 £ 2,509	Total funds 2022 £ 2,033 Total funds 2021 £ 2,509

9. Tangible fixed assets

Cost or valuation At 1 January 2022 At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021	Fixtures and fittings £ 26,846 26,846 25,351 83 25,434 1,412 1,495	Office equipment £ 1,537 1,537 1,123 299 1,422 115 414	Total £ 28,383
			28,383
			26,474 382
			26,856
			1,527
			1,909

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THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Investment property

Valuation At 1 January 2022 At 31 December 2022	Freehold investment property £ 1,000,000
	1,000,000

Investment property comprises the freehold land and buildings located at 125 Dalling Road, London W6 which were acquired more than 80 years ago. The historical cost of the property can be reasonably estimated at £5,000, resulting in a revaluation reserve of £695,000 being established in the 2011 financial statements.

The market value at the year end is based on the value estimated by a local surveyor and estate agent. The property is formally valued every few years. The valuation undertaken on 12 February 2015 resulted in an increase in the valuation of £300,000. The most recent valuation, undertaken on 5 March 2019, resulted in no change to the property's value. On this basis, no depreciation is deemed appropriate.

The trustees do not consider the market value of the property as at 31 December 2022 to be materially different from the most recent valuation undertaken, and the carrying value in the financial statements at the balance sheet date remains £1,000,000.

11. Fixed asset investments

Cost or valuation At 1 January 2022 Revaluations At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021	Listed investments £ 72,659 (6,976)
	65,683
	65,683
	72,659

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THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11. Fixed asset investments (continued)

All the fixed asset investments are held in the UK.

Listed investments comprise the following:

353.07 COIF Charities Investment Fund income units held within the St John's Choir restricted fund (2021 - the same);

1,174 Prudential plc shares (2021 - the same);

29 Jackson inc shares (2021 - the same);

1,174 M&G plc shares (2021 - the same); 1,109.093 units of M&G Charifund (2021 - the same); and

1,277.07 CBF Church of England Investment Fund income shares (2021 - the same), which will be held for at least the next 12 months.

With the exception of the Choir fund, where the assets are held within a restricted fund, all investments as at 31 December 2022 are held within general funds. Originally the Prudential shares were a bequest to the church to help fund the redecoration of the chancel. The paintings for the chancel were acquired in 2018, but paid for out of general funds already held in the PCC bank account rather than liquidate the investments. Therefore to reflect this exchange of cash for investments between funds the investments held in the Redecoration of the Chancel Fund were transferred to the general fund at 1 January 2019 at the value of £16,459 (being the market value as at 31 December 2018).

12. Debtors

Due within one year Other debtors Prepayments and accrued income	2022 £ 27,182 3,125 30,307	2021 £ 18,646 3,078
		21,724

13. Creditors: Amounts falling due within one year

Trade creditors Other creditors Accruals and deferred income	2022 £ 2,438 5,248 18,199 25,885	2021 £ 1,915 3,248 14,023
		19,186

Page 15

THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. Statement of funds

Statement of funds - current year

Unrestricted funds Designated funds St John's Church Hall Fund Revaluation Reserve - Dalling Road Historical cost - Dalling Road Irene Hayes Bequest Fire Alarm Friends Committee General funds General Fund Total Unrestricted funds Restricted funds Church Fabric Fund St John's Choir Fund H Bennett Fund Total of funds	Balance at 1 January 2022 £ 47,126 995,000 5,000 8,752 815 - 1,056,693 178,062 1,234,755 59,557 7,350 21,995 88,902 1,323,657	Income £ - - - - - 2,912 2,912 177,395 180,307 409 - - 409 180,716	Expenditure £ - - - - - - - (177,708) (177,708) (2,456) - - (2,456) (180,164)	Gains/ (Losses) £ (4,462) - - - - - (4,462) (1,580) (6,042) - (934) - (934) (6,976)	Balance at 31 December 2022 £ 42,664 995,000 5,000 8,752 815 2,912
					1,055,143
					176,169
					1,231,312
					57,510 6,416 21,995
					85,921
					1,317,233

The Friends Committee was a social committee that used to raise funds with which to buy sacred items for the church. As the committee no longer meets the balance in their accounts has been transferred to the PCC and we will continue to use these funds to buy sacred items for the church.

The H Bennett restricted fund has been apportioned by the executor of the estate for the redecoration of the Chancel in memory of Howard Bennett.

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THE HOLY INNOCENTS AND ST JOHN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

15. Summary of funds

Summary of funds - current year

Designated funds General funds Restricted funds	Balance at 1 January 2022 £ 1,056,693 178,062 88,902 1,323,657	Income £ 2,912 177,395 409 180,716	Expenditure £ - (177,708) (2,456) (180,164)	Gains/ (Losses) £ (4,462) (1,580) (934) (6,976)	Balance at 31 December 2022 £ 1,055,143 176,169 85,921
					1,317,233

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year Total	Restricted funds 2022 Unrestricted funds 2022 £ £ - 1,527 6,417 59,266 - 1,000,000 79,504 196,404 - (25,885) 85,921 1,231,312	Total funds 2022 £ 1,527 65,683 1,000,000 275,908 (25,885)
		1,317,233

17. Related party transactions

The incumbent and the churchwardens are trustees of The Julia Christina Clarke Endowment Fund and The Julia Christina Clarke Home Fund, both of which are registered charities. The main object of these charities is to provide for the less advantaged of the parish. At 31 December 2022 the charities held net assets of £36,451 (2021 - £36,422).

During the year total donations of £5,127 (2021 - £5,708) were received from members of the PCC.

During the year, rent totalling £10,488 (2021 - £10,488) was received from Oliver Pearcey, a member of the PCC.

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