**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.
Page 4
**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.
Page 6
**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_|
Page 13
**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_|
Page 14
**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.
Page 16
**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.
Page 17