Holy Trinity Wealdstone Annual Report and Financial Statements of the Parochial Church Council for the year ended 31 December 2023 Administrative Information Holy Trinity Wealdstone is situated in the middle of Wealdstone Town Centre. The parish is part ofthe Deanery of Harrow, the Archdeaconry of Willesden, and the Diocese of London. The correspondence address is: Holy Trinity Church. The Parish Office, IA Headstone Drive. Wealdstone. Harrow, Middlesex, HA3 5QX. The following served as members of the PCC of HolyTrinity Wealdstone from 01 January 2023 to 31 December 2023. {# indicotes members of Standing Committee) Incumbent-
Reverend Simon Johnson {from 22 Jun 2022)
Maurice Woodbridge
(from APCM 24 Apr 20161
John Highcock
(from APCM 29 Apr 20181 Churchwardens: Representatives on the Deanery Synod:
Alison Stowe
Lynne Jones
{from APCM 23 Apr 2023) (from APCM 23 Apr 20231 Elected Members: Anne Russell Yvonne Chisholm Beverley Sterling
Lynne Jones
Shyami Ransley
(Secretary) (from APCM 24 April 20221 {until APCM 28 Mar 20231 3 years (from APCM 28 Mar 20231 3 years (from APCM 18 Oct 20201 {from APCM 23 April 20231 3 years Bankers: Co-operative Bank. PO Box 600. Delf House, Skelmersdale, WN8 6GF Architect.. Clive England of Thomas Ford & Partners 177 Kirkdale. Sydenham. London SE26 4QH Independent Examiner: Derek Taylor-mew FMAAT. 123 Park Lane. South Harrow. HA2 8NN. Page l of 11
Structure, governance, and management The Parochial Church Council IPCCI is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is registered as Charity No 1132680 with the Charity Commission. The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. At the beginning of each new PCC an introduction to the workings of the PCC is given to each member. Following the APCM in 2008 members are given annually an electronic or paper copy of the 'Health and Safetv and 'Child Protection. procedures. Members are encouraged to go on training courses, such as those arranged by the Diocese and Deanery. and report back to the PCC. The PCC has a Standing Committee ISCI made up of Clergy. Bishops, Officers, Secretary. Treasurer and 2 other PCC members. Membership is indicated at # above. The Standing Committee has the power to transact the business of the PCC between its meetings. Subject to any directions given by the PCC. The major risks to which the PCC is exposed. as identified by PCC members, have been reviewed and systems or procedures where appropriate have been established to manage those risks. Holy Trinity Wealdstone Reserves Policy Our current reserves policy as it stands is to continue to hold £6,0(Xl in our (deposit account which wa5 the total remaining capital repayment on our stonework loans as of 31 December 2023. The significant reduction from previou5 years is entirely due to buildings related expenditure during 2023. The total in the deposit account at the end of 2023 wa5 £11,737. Objectives and Activities The primary object of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrine and practices of the Church of England. Furthermore, the PCC has the responsibility of co-operating with the Incumbent. in promoting in the ecclesiastical parish the whole mission of the church- pastoral, evangelistic. social. and ecufflenical. Across 2023 we have continued to seek to embody our Mission Action Plan. which can be 5ummarised as-"HolyTrinityWealdstone= Meet with God: Make Friends- Followjesus" in our common life. Achievements and performance The PCC met li times during 2023 to oversee the life and ministry of Holy Trinity Church within the parish of Wealdstone. New PCC members were appointed in the APCM meeting on 23rd April 2023: Yvonne Chisolm. Beverley Sterling and Shyami Ransley stood and were duly elected to the PCC. Each meeting opened and c105ed with prayer. The regular items on the agenda were Finance, Health and Safety. Safeguarding and Building maintenance and 2 Earls Crescent. During the year lots of discussions about the work needed to bring 2 Earls Crescent back into the standard required to rent out. This has now been completed and it has been agreed that the property would be rented by Harrow Council for three year5. This brought with it funding of £15,OCK) towards the cost of the repairs and maintenance required. Challenges regarding the behaviour of the shops have been brought to the attention of the PCC at different stages throughout last year, with situations ongoing. Anne Russell, PCC Secretary Page 2 of 11
Financial Review - Treasurer's Report for the year ending 31 December 2023 Firstly, thank YOU for your continued commitment to supporting Holy Trinity. and particularly to those who have increased their standing orders during the year. We still enjoy the generosity of two couples who left HT a long time ago. There was a deficit for 2023 of £57.344. This is larEely in connection with the Church house at 2 Earls Crescent which has been unoccupied since September 2022, needing much work to bring it to current standards for letting a property. Income It must be noted that £20,000 has been withdrawn from the deposit fund and £10,000 has been borrowed from the Children and Family Worker fund in order to Support cash flow. This latter amount needs to be repaid. Planned giving is £2,6LXJ down. There had been a one-off gift of £2,0(X) in 2022. Three giving units have moved away since 2022 and I person died in 2023. There were 3 specific gifts given - 2 totalling £15,0(M) to repay the diocesan interest-bearing loan and I to pay for tree pollardin& all to be gift aided. These off-set expenditure. A legacy of £500 was donated in memory of Peter Bowler. The Harrow deanery awarded a grant of £l.(KK) for evangelism. £700 raised by sales of produce and other items to help with the repayment of loans. Loss of rent from 2EC- £20,400 Quarter 4 shop rental income for one of the units was not accepted following advice from the solicitor recommended by the Diocese. Expenditure Again major efforts have been made to reduce costs. Common Fund IParish Sharel was £67.(KK). This amount is less than requested by the Diocese. Clergy expenses reflect the c05t of a replacement laptop for Simon. As expected ga5 and electricity are much higher than 2022 for the church and church flat. Maintenance includes the church centre kitchen water heater1£2,0001, heater5 in room 3 1£4.6801 and flat roof over hall kitchen1£7441. The overall cost for 2 Earls Crescent for 2023 is £44.300. BUDGET 2024 The PCC agreed to a budgeted surplus of £3.954. Income The major item affecting the budget is 2 Ear15 Crescent. Thi5 budget shows income for 10 months @ £1,750 per month and receipt ofa grant from the London Borough of Harrow of £15.000. The budget for planned giving and rental income is based on known amounts. No rental income for shop number 11 has been included and it must be noted that the church may face a high legal bill in order to resolve the problems. Page 3 of 11
Expenditure Common Fund (Parish Share}- increased to £70.11. Maintenance includes an amount of £S.(KK) to replace heaters in church. All other items are in line with inflation. REPAYMENT OF LOANS FOR THE CHURCH STONEWORK The diocese loan was repaid in full by the end of 2023 due to 2 generous donations. The area loan ha5 £6,CNJO owing and will be cleared in June 2025. RESERVES There is an amount of £11,737 in the deposit account. £6,CMX) is held against repayment of the area loan. Pat Horn, Acting PCC Treasurer The following accounts were approved by the Parochial Church Council on 6 February 2024 and signed on its behalf by.. Anne Russell. PCCSecretory Page 4 of 11
Holy Trinity Church Wealdstone Income and Expenditure account For the year ending 31 December 2023 Budget 2024 Artual 2023 Actual 2022 INCOME Planned Giwng Loose plate collection5 Special collections Legacies not restricted Specific gifts- stonework repairs Specific gifts- tree pollarding Deanery Mission Grant for evangelism 2023 Car park permit deposit LDF energy grant 2022 Gift Aid recovered Service Fees 30,500.00 3.500.00 31.794.50 4.434.78 255.00 500.00 15.699.61 540. i.000.00 10.00 34.423.03 3.687.30 354.33 655.90 2,641.IX) 6,610.83 155.00 48.527.39 5,390.1XJ 150 CKI 39.540.th) 10,516.81 438.00 65.188.70 TOTAL MINISTRY INCOME Churth Hall lettings 2EC 2EC grant from Harrow Counal Church Flat Shops 30.385.00 17.500.00 15.000.00 15.000.00 36,820.00 114.705.rx) 27.734.00 39.278.83 11.701.10 15,Th)O.00 41.473.84 84,207.84 15,Tr)O.00 42.820.00 108,799.93 TOTAL RENTAL INCOME Children and Family Worker income Children and Family Worker Gift Aid CCLA income- bank interest HOTEC income Toddlers income Traidcraft income Together on Wednesdays 4.976. 1,244.Th1 2iXJ.(KJ 5,346.00 1,336.50 1,084.24 5,401.00 1,350.25 527.65 575.77 2.414.73 163.98 TOTAL OTHER INCOME 6.420.LN) 8,349.51 9,857.61 TOTAL INCOME 160.665.00 157.746.05 167.184.93 Page 5 of 11
Holy Trinity Church Wealdstone Income and Expenditure account For the year ending 31 December 2023 Budget 2024 Artual 2023 Artual 2022 EXPENDITURE Common Fund Subs to Bereavement Care PCG IO% to missionary societies Special collections 70.CW. 2¢J). 67.000.00 200.(K) 3.088.00 255.00 65.¢kn1.00 200.00 3.027.00 385.00 TOTAL GIVING TO OTHER BODIES Adrninistrators. salary costs Clergy expenses Visiting speakeislclergy 73.2). 70.$43.00 68.612.00 17,726.37 2.300.96 5S.00 15.718.73 417.30 i.(J)J. TOTAL STAFF EXPENSES 20.050.(M) 20.082.33 16.136.03 Equipment Phtsne and network Photocopier Postage & stationery Software licences 2LN). 370.37 122.32 i.ryx).(K) 997.40 539.39 108.41 1,568_08 997.34 638.43 137.99 1,563.71 3.459.79 150.IXI 2.tMJ).(KI TOTAL ADMIN COSTS 4,050. 3,583.65 Equipment and supplies Evangelrsm Training Hospitality Childrerb's activities 5CM).LX) 476.62 188.65 705. 294.66 250. 111.321 708.90 277.50 3C¥).IXI TOTAL MINISTRY Cosrs 1.505.(K) 1.009.96 1.175.05 Gas 7.800.C 4.5(M).crf) 7,353.22 4.945.47 605.48 6,948.36 11.OLK).93 11.682.76 26.560.84 2.750.89 2.179.21 577.46 Water Insurance Cleaning Maintenance Stonework repayment of loans TOTAL CHURCH PREMISES cosrs 2EC- inSuran/malntenan(e Vicarage maintenance Vicarage- interregnum Vicarage- watef Church Flat- gas Church Flat- electric Church Flat water Church Flat- council tax Church Flat- maintenance 5.515. 11.796.LX) 9.7(M).W¥ 4.LKK).QI 4.065.55 9.699.79 12,440.63 8,840.00 44.411.fy) 69,097.06 40,553.53 1.985.C 2CKI.IXI 44.269.46 180.00 1.942.13 1,186.78 5.075.92 396.05 1,023.93 510.58 180.00 1.807.20 460.IX) 450.LK) 2.3(M).(N) 850.(KI 420.DJ 2.290.(K) 431.03 2.205.36 928.35 300.00 1,760.49 144.CKJ TOTAL PROPERTY COSTS Children and Family worker salary HOTEC expenditure Toddlers expenditure Traidcraft expenditure 8.495.(Kl 50.218.69 12,582.59 5.(KKI. 2.363.83 211.08 535.63 214.01 683.73 144.47 TOTAL OTHER cosrs 5.(X>).IXI 828.20 3.324.55 TOTAL EXpENDuRE 156,711.0) 215,362.89 145.843.54 SURPLUSIIDEFicm FOR YEAR 354.00 157,616.841 21.341.39 Page 6of 11
Holy Trinity Church Wealdstone Statement of Assets and Liabilities, and Balance Sheet For the year ending 31 December 2023 General Designated Restrirted Endowment 2023 2022 Assets Fixed asset 2 EC General Fund Children & FW account CCLA deposit fund HOTEC Toddlers Traidcraft Property Deposits Debtors Totsl current assets 13.637.CM) 14,595.86 8.892.21 11.737.22 1,537.17 2,7.78 13,637.C¥J 27,315.86 8,892.21 11,737.22 1,537.17 2,C(J7.78 13,637.00 40.466.94 13,546.21 40,652.98 1,537.17 2.115.74 144.47 1,250.00 25,990.65 139,341.16 12.720.1XJ 1.250.00 15,361.08 69.018.32 1,250.00 15,361.08 81.738.32 12,720.00 Liabilities Property Deposits Creditors Total current liabilities 1.250.00 3,088.00 4.338.00 1,250.00 3,088.CH) 4,338.IXI 1,250.00 3,074.00 4.324.00 NET ASSETS SURPLUS/(OEFICIT) 64.680.32 12,720.00 77.400.32 135,017.16 Represented by: Fixed asset 2EC Cash at bank.. General account CFW account CCLA deposit account HOTEC 13.637.CK) 13,637.1XJ 13,637.00 14,595.86 8.892.21 11,737.22 1.537.17 2,CX)7.78 12.720.(K) 27,315.86 8.892.21 11.737.22 1,537.17 2,IK)7.78 40.466.94 13,546.21 40,652.98 1,537.17 2,115.74 144.47 25,990.65 13.074.001 135.017.16 Toddlers Traidcraft Plus debtors Less creditors TOTALS 15,361.08 13,088.001 64.680.32 15.361.08 13,088.001 77,400.32 12,720.00 Reserves Opening balance HT surpluslldeficitl HOTEC surplu51ldeficitl Toddlers surplus/ldeficitl Traidcraft surplus/ldeficitl TOTAL RESERVES 135,017.16 157,364.41) 135,017.16 157,364.411 113,675.77 21,532.76 1211.081 69.74 1107.961 1107.961 1144.471 77,400.32 1144.471 77,400.32 150.031 135.017.16 Page 7 of 11
Holy Trinity Church Wealdstone Statement of Financial Activities For the year ending 31st December 2023 General Designated Restrirted Endowrnent 2023 2022 Income Giving Gift Aid recovered Lettings Rental of property Service fees Bank interest 59,579.89 11.853.31 31,338. 52,869.84 438.CM) 59,579.89 11,853.31 31,338.00 52,869.84 438.00 1.084.24 £44,521.56 £7,961.08 £39,278.83 £69,521.10 £155.00 1,084.24 £527.65 LDF energy grant HOTEC Toddlers £2.641.00 £O.IK) £2,414.73 £163.98 575.77 575.77 Traidcraft TOW Total income 7.00 7.00 157,739.05 157,746.05 £167,184.9 Expenditure Running costs 187.973.85 187,973.85 £136,042.8 Repayment of loans HOTEC 26.S60.84 26.560.84 £8,840.00 £211.08 Toddlers 683.73 683.73 £535.63 Traidcraft Total expenditure 144.47 144.47 £214.01 215.362.89 215.362.89 £145.843.5 Net movement in funds {57,616.84 21,341.39 Page8of 11
NOTES TO THE FINANCIAL STATEMENTS Accounting Policies The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCS, and with the Regulations true and fair view, provisions, together with FRS 10212016} as the applicable accounting standards and the 20161?) version of the Statement of Recommended Practice. Accounting and Reporting by Charities {SORP IFRS 1021). Funds General Funds represent the funds of the PCC that are not subject to any restrictions regarding their use. Funds designated by the PCC are also unrestricted. The accounts include all material transactions. assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members. Income - Please refer to the income poge of this report. Planned giving. collections and similar donations are recognised when received. Income tax recoverable on Gift Aid donations is recognised in the year to which it relates. Grants and legacies to the PCC are recognised as soon as the PCC is notified of its legal entitlement and ofthe amount due. Rental income from the letting of church premises is recognised when the amount has been invoiced. Interest and other investment income is accounted for when received. Expenditure - Pleose refer to the expenditure p(yges of this report. The total amount in respect of grants and donations has already been designated by the PCC. The amount in respect of the year under review is therefore included in these accounts and expressed as a creditor at 31 December. The Diocesan parish share is accounted for in the year to which it relates. Consecrated land and beneficed property are excluded from the accounts by settion 96121 la} of the Charities Act 1993. No value is placed on movable church furnishings held by the churchwardens 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 benefice buildings and movable church equipment or furnishings. whether maintenance or improvements, is written off as expenditure in the Statement of Financial Attivities and separately disclosed. The PCC is managing Trustee for certain properties that are available to be used to house assistant clergy. These are stated at original cost together with the cost of any subsequent major improvements. Other fixtures, fittings and office equipment- In view of the nature of this equipment and the fact that original cost did not exceed £3.000. all expenditure is written off a5 incurred. Assets Amounts owing to the PCC at 31 December in respett offees, rents or other income invoiced, are shown as debtors. Cash is held on deposit with the Central Board of Finance Church of England Funds ICCLAI. Page 9 of li
Fixed assets comprise the house at 2 Earls Crescent, Wealdstone, Harrow. HAI IXN. This is stated at cost together with the expenditure incurred in construction of the extension. Debtors and Creditors DEBTORS Shop # 03 (paid January 20241 Shop # 07 (paid January 20241 Ignite Ipaid January 20241 1,51J).IK) 1,500.00 875.00 Rental income 3 875.00 Gift Aid tax reclairn from HMRC General Fund 2023 Children & Family Worker Fund 2023 10.149.58 1,336.50 GiftAid 11486.08 TOTAL DEBTORS £1 CREDITORS Mi5sions and Charities Donations 2023 Re.'Gen CMS- Mark & Rosalre Balfour Firrn Foundation- Homeless in Harrow Friends of Kenya's Children 35% 35% 15% 15% 1.080.OL) 1.080.00 464.00 464.00 TOTAL CREDITORS Connerted persons The PCC has been advised of no relationships which require to be disclosed under the provisions of the Charities Att. Statement of the responsibility of the Parothial Church Council in respert of the accounts The Charity Commission require the Trustees to obtain accounts each year which Eive a true and fair view of the financial transactions of the PCC and of the disposition at the end of the year of the assets and liabilities and contain the information specified in relevant regulations. The Trustees are required to select suitable accounting policies and apply them consistently and make judgements and estimates that are reasonable and prudent. The Trustees are responsible for keeping proper accounting records. in accordance with Trust Law. which disclose the financial transactions and the assets and liabilities with reasonable accuracy. They are also responsible for safeguarding the assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page Ioof 11
Independent Examiner's Report to the PCC of Holy Trinit), Wealdstone I report on ihe accounls of the church for the s'ear ended 31 December 2023 which are set out in the attached pages. Respective responsibilities of the PCC and the examiner The PCC (the church trustees) are responsible for the preparation of the accounts. The PCC consider that an audil is nol required for ihis vear under section 144(2) of th¢ Charities Act 2011 (the 2011 Act) and thai an Independeni Examinaiion is needed. Basis of this report M), examination 'aS Caled out in accordance ii'ith the General Directions given by the Charity Commission. Thal examinaiion includes a rei-.ieii' of the accounting records kept bj. the PCC and a comparison of the accounts presenied with tliose records. It also includes considering an), unusual ilems or disclosures in the accounts, and seekingi explanaiions from l-ou as trustees concemingi an!, such mailers. The procedures undertaken do not proi.'ide all the ¢i'idence that H'ould be required in an audit. and consequentlv no opinion is gii'en as io i4"hether ihe accounts present a 'true and fair view, and the report is limited to those maiters set out in the statement below. Independent Examiner's statement In connection 'ith mv examinalion, no maller has come to m!, attenlion- ( l ) ii,hich gil'es me reasonable cause io beliei'e ihat in any maierial respect the requiremenis to keep accounting records in accordance ii.'iih seciion 130 of the 2011 Acl: and to prepare accounts ii'hich accord H"ith the accounting records and compl!. ii'ith the accounting requirements of the 201 l Aci hai'e not been met; or {2) To M'hich, in m}, opinion. attention should be dra'n in order to enable a proper understanding of the accounts to be reached. (Signed) 22 March 2024 D Taylor-meth FMAAT Hon. Examiner. 123 Park Lane Harrow. Middlesex HA2 8NN