ST.PAULS MVLJ Annual Report and Financial Statements Year ended 31 December 2024 Registered Charity No. 1133066
PCCAnnual Report for the yearto 31 DECEMBER 2024 The Parochial Church Council of St Paul's Letchworth 1133066 Registered charity number (if any) Charity's principal address 179 Pixmore Way, Letchworth, HertFordshire. SG6 IQT Names ofthe PCC Members who manage the charity: Name Office lif an Incumbent Dates acted if not forwhole ear Notes Rev Jeni McQuaid Rev Amanda Ferris Associate Vicar Rev Nick Smith As50Clate Vicar From February 2023 Jess Batten As515tant Curate From July 2023 John Cliff Church warden From April 2024 From April 2024 Co Opted May 2024 To June 2026 Andrew Spendlove Chris Dingwall Judith Nash Church warden Treasurer Synod Rep. IreneAdam Elected Member Keith Blundell PCC Secretary Sam Brazier Beccie Galloway Ben Grierson-Hill Anne Hignell Louise Hoy Chris Hulme Miriam John Hannah Mellors Helen Pattinson Dan Pinco Paul Thomson To April 2024 Judith Nash Philippa Dowson Emma Hitchin-Reeves From April 2024 From April 2024 From April 2024 Nigel Pickett Emma Vernon Children and Families Worker ObseNer Claire McDonnell Youth Worker ObseNer
Names and addresses of advisors: Architects lain Frearson, 20 Shott Lane, Letchworth Garden City, Hertford5hire, SG6 ISE NB: Upto 31 Dec2024. Bankers National Westminster Bank, Station Place, Letchworth. SG6 3AL Judith Nash Deanery Synod representatives lentitled to attend PCCI Structure, governance and management Description of the charity's trusts How the Church is constituted St Paul's Letchworth is a registered charity as well as being part of the Church of England. The structure and governance arrangements of the charity are set out by the Church of England and StAlbans Diocese. The church sits within the Hitchin Deanery and the Archdeaconry of StAlbans. Full details of governance arrangements are set out on the St Albans Diocese website. St Paul's is part of a Joint Benefice with All Saints, Willian & St Mary's, jointly served by the incumbent, a550ciate minister, curate, and readers. All Saints, is administered by its own PCC, appointed from its own membership, and has separate financial records and accountability. St Paul's PCC has no responsibility for the pastoral or administrative affairs of All Saints,. PCC and Committees The responsibilities of St Paul's PCC are enshrined in the Parochial Church Councils (Powers) Measure 1956. As such, the purpose of the PCC is to cooperate with the incumbent in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social, and ecumenical. The PCC is responsible forthe maintenance of all church buildings and grounds, ensuring the smooth runningofthechurch and forensuringthatthe church is compliant with all relevant legislation relating to its functions- health and safety, data protection, safeguarding and employment law. The ordained ministers, curates, readers, and church wardens become members of the PCC on appointment. Elected members are appointed by ballot of church members at the APCM on 3-year terms, with vacancies during the year being filled by PCC. PCC meets its objectives achieved through: Full PCC meetings 6 times a year, bi-monthly standing Committee, which has powers to act on behalf of PCC, meeting 6 times a year bi-monthly, alternating with PCC Ad hoc task groups, formed during the year as required. None of St. Paul's objectives would have been achieved without the dedication and support of our3 staff member5 (ourchildren and Family's worker, our Youth Worker, and our Parish Administrator) and thevery many church members who give theirtime voluntarily and unstintingly in all areas of church life. Objectives and activities
OurVision- "Lives transformed bythe light and love of Jesus" Our Values.'_ Valuing everyone os made in God's image Seeking Growth into faith, to become mature disciples Focusing on Jesus, rooted in scripture, prayer and worship Serving each other and our community as a committed family 2024 continued to see growth across the ministries of the church.we are once again seeingthe numbers thatwesaw before the pandemic (235). Our demographic has changed, we are younger, we are messier, and we look a little more like the d isci ples, thank you Jesusl In May 2024 we completed the work on the roof. We have been blessed with the necessary finances and have completed the work debt free. God has been very generous and has provided for all our needs. In June we again held a Baptism service and had the greatjoy of seeing more people being baptised andlor confirmed. The seNice was so joyful as candidates shared their testimonies and many were baptised by full emersion. We look forward to hosting Bishop Jane again in the summerto do it all againl In 2022 we noticed that people in their 20s were trying St Paul's but not sticking. We began the Emerge Home Group to form a place where they could meet one another and grow in their faith and discipleship. There were 4 people at the time of starting, and we are now able to boast 27 members. Praise Godl This isthe missingdemographic in church. It has been wonderful to see Men's Ministry become more established thanks to Nick Smith for his work here. Summaryof the objects ofthe charity set out in its governing and the main activities undertaken forthe public benefit in relation to these objects (include withi n this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit) document Jess Batten continues to fully immerse herself in the life of the church and the local community itfeels as if she's been here foryearsl Jess and Nick have been instrumental in supportingthe growth of the Emerge Group. Ouryoung people continue to grow both in faith, with a number making commitments to follow Jesus at New Wine last summer and numerically. Claire has launched "Alert" for the younger youth and "After Hours" for the older youth either side of the SIX:30 on the first Sunday of the month and they frequently attract many ofthe young people who 51t together in the service. As their friendships deepen so does their connectivity with their faith. We continueto see familiesjoin the church"Prayers with Bears" and an after- school club both of which have seen'unchurched" families come and build relationships with us. This breaking down of walls is critical to our evangelism. Over 100 of us attended New Wine in the summer. The weather was much better than last year, so camping was a more pleasant experience several people came to faith and encountered God in powerful ways. We continue to pray forthis yearl One of our focuses recently has been increased connectivity between all our ministries, and we see more new congregation members worshiping on Sunda havin "joined the dots" from other ministries such as Toddlers and
Alpha. There is still more to do in this area as we constantly seek to meet the ever-changing needs of our church In all that we do, the PCC, as trustees, have had regard to the guidance issued by the Charity Commission on public benefit document. Summary ofthe main activities during the year Ou r activities are: Regular public worship open to all. administration ofthe sacraments, including preparation for baptism and marriage; conducting funerals; the provision of sacred space for personal prayer and contemplation. pastoral work, includingvisiting the sick and bereaved. Christian teaching through talks, courses and small groups; taking religious assemblies in schools. youth work with a Christian ethos. promoting the whole mission of the church though a range of activities for older people. work with young children and theirfamilies- parents and toddlers. collaboratingwith our Ecumenical brothers and sisters in Letchworth on a range of community activities, including the provision of a Food Bank and The Ark, a drop in centre for homeless and vulnerable adults. supporting other charities in the UK and overseas. Safeguarding The PCC has complied with its duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to the House of Bishops, guidance on safeguarding children and vulnerable adults). Financial review The PCC is committed to maintainingthe following reserves: Capital Fund- £9,912 representing the PCC'S strategic interest in the curate's accommodation. Working Capital reserve- £55,000 equivalent to 3 months expenditure Brief statement of the charity's policy on reserves Financial results The principal sources of income and expenditure are set out in the financial statements for the year. The funds available to the PCC atyear-end remain adequate to achieve its objectives in 2025. Declaration The members declare that they have approved the PCC Annual Report above. Signed on behalf of the PCC On 22 April 2025 RevJeni McQuaid Minister Keith Blundell Secreta
St Paul's Letchworth Contents to the financial statements Year ended 31 December 2024 Page Statement of f inancial activities Balance sheet Notes to the financial statements Independent examiners report 18
St Paul's Letchworth Statement of financial activities Year ended 31 December 2024 Unrestricted Funds Restricted Funds Note Total 2024 Total 2023 Income Voluntary Income Income from fees and charges Income from local mission activities Income from investments Other Total incoming resources 197,045 31,001 83,918 50 1,609 '.280,9,. ,, ,.., '400,3- 31,051 8,143 1,143 . 237,333 10,435 889 442,514 1,143 322,911 Expenditure Ministry Parish share Support provided to missionaries Cost of generating fees and charges Costs of local m ission activities Buildings and other runnings cost Total resources used 60,322 96,983 19,678 31,928 4,149 35,000 29,861 96,983 19,678 31,928 . 18,395 35,111 292 279 35,872 18,839 166,773 14,247 iii Net income/{expenditure) ,,110,727). , Transfer between funds 47,200 147,2001 Net movement in funds Reconciliation of funds: Total funds brought forward 72,200 24,805 97,006 61,058 Total funds carried forward .127 637.
St Paul's Letchworth Balance Sheet Year ended 31 December 2024 2024 2023 Note Fixed assets Tangible assets Total fixed assets 9,912 9,912 Current assets Debtors Cash and cash equivalents Total curret assets 17,903 129,593 . 147,496 56,621 286,062 342,683 Credltors: amounts falling due within one year 29,771 9,350 Net current assets Total assets less current liabilities 127 637 Provisions for liabilities io 246,239 Total net assets Funds Restricted funds Unrestricted funds li li 18,964 108,673 24,805 72,199 Total funds Approved and authorised for issue by the board on Signed on behalf of the board of trustees.. Chris Dingwall Treasurer Date: 22104/2025
Notes to the financial statements I Significant accounting policies Basis of accounting The PCC is a body corporate and a charity registered with the Charities Commission. The address of the registered office 15 given in the administrative details section of the trustees annual report. The charity constitute5 a public benefit entity as defined by FRS 102. The accounts have been prepared in accordance with Accounting and Reporting by Charities- the Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the U K and Republic of Ireland IFRS 1021, the Charities Act 2011, UK Generally Accepted Accounting Practire and comply with the PCC'S governiiig document and the Church Accounting Regulation5 2006, The financial statements have been prepared to give a 'true and fairf 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 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applica ble in the UK and Republic of Ireland (FRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. The financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements are presented in pounds sterling rounded to the nearest pound. There ha5 been no change to the accounting policies (valuation rules and method of accounting) since last year. Recognition of income Income is included in the Statement of Financial Activrcies (SOFA) when". The church becomes entitled to the resources; The church is virtually certain to receive the resources,. and The monetary value can be measured with sufficient reliability. Offsetting There ha5 been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FR5 102. Grants and donations Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Gift Aid tax reclaims on donations and gifts Gift Aid receivable 15 included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated a5 an addition to the same fund
as the initial donation unle55 the donor or the terms of the appea I have specified otherwise. Gifts in kind, donated services and volunteer help Gifts in kind, donated services and volunteer help are not included in the SOFA. Investment income This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Funds U nrestricted funds are ava ilable for use at the discretion of the trustees in furtherance of the general objertives of the charity and which have not been designated for other purposes. Designated fund5 comprise unrestricted funds that have been set aside by the trustees 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 restriction5 imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the Specific fund. The aim and use of each re5tritted fund is set out in the notes to the financial statements. Tangible fixed a55ets Consecrated land and beneficed property is excluded from the accounts by the Charities Act 2011. Individual tangible fixed assets costing in excess of £5,000 will be capitalised over the estimated useful life of the asset. Expenditure below £5,000 is treated as expenditure in the year taking place. Freehold property represent5 the interest of the PCC in 89 Howard Drive and is carried at cost. Depreciation is charged at 20A on cost less estimated residual value on a systematic basis over the expected useful life of the asset. The market value is considered to be not less tha n cost. As the estimated residual value is not less than cost, no depreciation is provided for. Debtors Debtors (including trade debtors and loans receivable) are measu red on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequentlyi they are measured at the cash or other consideration expected to be received. Cash and cash equivalents Cash and cash equivalents comprise on ha nd and dema nd deposits that a re subject to an insignificant risk of changes in value. Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. io
Provisions for liabilities and charges Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliablv estimated. 2 Analysi5 of Income Unrestrlcted Restricted 2024 2023 Voluntary Income Covenanted giving Collections Donations, gifts and grants Gift Aid tax recoverable 161,138 3,685 2,804 29,418 2,200 163,338 3,685 83,143 30,797 167,388 3,699 163,305 65,947 80,339 1,380 Total Voluntary income in 2023 was £400,339 of which £189,833 was attributable to restricted funds and £210,506 was attributable to unrestricted funds. Income from fees and charges Weddings and funerals Church hall lettings 2,288 28,713 50 2,338 28,713 4,317 24.614 Total Income from fees and charges in 2023 was £28,931 of which £150 was attributable to restricted funds and £28,781 was attributable to unrestricted funds. 3 Expenditure Analysis Unrestricted Restricted 2024 2023 Ministry Clergy Children and families Youth work 8,589 23,793 27,941 25,000 2,311 2,550 33,589 26,104 30,491 28,797 24,278 22,360 Total Expenditure on ministry in 2023 was £75,435 of which £25,854 was attributable to restricted funds and £49,581 wa5 attributable to unrestricted funds. li
Unrestricted Restrlcted 2024 2023 Buildings and other running costs Church building Equipment non capital and maintenance Administration costs Independent examiner fee 11,5921 4,893 30,859 840 11,5921 5,004 30,859 840 76,365 57,136 32,432 840 iii Total Expenditure relating to the Church Building for 2024 totalled £17,910. The negative expense reflects the reversal of the provision totalling £19,502 for the North Aisle Roof. See Note 10 for further details. Expenditure on buildings and other running costs in 2023 was £166,773 of which £50,466 was attributable to restricted funds and £116,306 was attributable to unrestricted funds. 4 Staff costs 2024 2023 Staff Costs Wages and salaries Social security costs Pension costs 69,706 iii 4,183 60,110 3,848 Total St Paul's contributes 6% of salaries to employee personal pension schemes. No employees received total employee benefits (excluding employer pension costs) of more than £60,000. Average number of employees in the year: No. Ministry team Administration Total 5 Trustees, remuneration and expenses Members of the PCC received no fees, allowances or travelling expenses for serving on the PCC12023 same). During the year, the PCC entered into a Locally Supported Ministry agreement with the Diocese relating to the Associate Vicar, Nicholas Smith, who is a member of the PCC. The total contribution from the PCC towards this post for this financial period was £31,913 which was made up of payroll costs of £20,002 (paid to the Diocese), including pension of £3,405 and payments to the Associate Vicar towards housing costs of £11,910. The Diocese provided a £25,000 grant in the year to the PCC to support the annual costs of the appointment of the Associate Vicar. 6 Tangible assets 2024 2023 Freehold property Cost at l January 2024 Cost at 31 December 2024 9,912 9,912 12
7 Debtors 2024 2023 Trade debtors Gift Aid tax recoverable Taxation and social security Other debtors Prepayments and accrued income 16,083 56,463 41 1,821 117 8 Cash and cash equivalents 2024 2023 Short term deposits Cash at bank and in hand 118,335 11,258 231,697 54.365 Total 9 Creditors and accruals falling due within one year 2024 2023 Trade creditors Accruals and deferred income Other creditors 1,388 24,815 3,568 231 9,081 38 Total 10 Provisions for liabilities 2024 2023 Balance at the start of the reporting period Amounts added in current period Amounts charged against the provision in the current period Unused amounts reversed Balance at the end of the reporting period 246,239 220,000 56.514 30,275 226,737 19,502 The provision carried forward reflects the total estimated costs required for the entirety of the necessary works to the church roof as detailed within the Quinquennial report dated June 2021. The provision had been charged to the General Fund. Donations and grants raised during the Raising the Roof" fundraising campaign were initially recogni5ed within the Buildings Fund and were subsequently transferred to the General Fund, where the provision had been recorded. A total of £245,928 had been raised as part of the Raising the Roof, campaign (including £47,200 in grants and donations this financial year). The PCC had also allocated £27,702 from General Fund reserves to cover 13
any shortfall should the costs of the repairs exceed the amount raised through the campaign. The repairs were completed during this financial year, with the total repair work costing £257,012. As the amount and timing of the remaining costs are now known, the provision has been written down, and a current liability of £15,518 has been recorded, consisting of outstanding professional fee5 and retention for for the construction work. The Church Building expense account has been credited £19.502 this year to reflect the difference in the expected expense of the repair work recorded of £276,514 in previous financial years compared with the actual expense of £257,012. 11 Fund reconciliation Unrestrlcted funds Fund Name Balance at 0110112024 Balance at 3111212024 Type Income Expenditure General Fund Ca pital Working Capital Legacy Unrestricted Designated Designated Designated 11,739} 9,912 55,000 9,028 284,533 248,061 34,733 9,912 55,000 9,028 Fund Name Balance at 0110112023 Income Expenditure Balance at 3111212023 Type General Fund Capital Working Capital Legacy Unrestricted Designated Designated Designated 130,3831 9,912 55,000 340,583 311,941 (1,7391 9,912 55,000 9,028 10.000 972 Capital fund represents the cost of the Church's equFty interest in 89 Howard Drive. Working Capital reserve represents approximately 3 months, costs, excluding funded building works. The changes within the General fund represent the excess of income and endowments over expenditure. 14
11 Fund reconciliation (continued) Restrirted funds Balance at 0110112023 Balance at 3111212024 Fund Name Type Income Expenditure Associate Vicar Grant Audio Visual Equipment Buildings Buildings (Provision) Children's Welfare Children's Work Church Holidays and Retreats Community Café Connect Diocese Flowers Home Worship Packs Little Eden Luncheon Club Toddlers Uniform Bank Welfare WLTDO Youth Worker Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted Restricted 3,125 35 25,000 138 47,200 25,000 iii 3,125 61 47,200 147,200} 554 3,094 2,889 2,623 62 73 154 47,200 75 3,869 4,593 2,496 629 4,164 5,631 4,297 62 308 155 40 1,842 1,714 18 2,120 323 343 2,799 1,851 821 50 50 285 51 40 2,193 1,416 18 1,766 311 585 4,096 788 3,745 1,086 354 46 2,508 35 2,750 15
11 Fund reconciliation {continued) Restricted funds Fund Name Balance at 0110112023 Type Balance at 3111212023 Income Expenditure A550ciate Vicar Grant Restricted Audio Visual Equipment Restricted Buildings Restricted Buildings (Provision) Restricted Children's Welfare Restricted Children's Work Restricted Church Holidays and Retreats Restricted Community Café Restricted Connect Diocese Restricted Energy Fund Restricted Fabric Fund Restricted Fabric Fund (Transfer to General Restricted Flowers Restricted Home Worship Packs Restricted Little Eden Restricted Luncheon Club Restricted New Bibles Restricted Refreshments Restricted Toddlers Restricted Uniform Bank Restricted Warm Space Restricted Welfare Restricted WLTDO Restricted Youth Worker Restricted 25,000 86 21,875 86 3,125 35 56,829 (56,8291 629 4,164 5,631 4,297 62 35 56,829 56,829 171 4,528 3,043 1,466 45 2,279 50,605 43,145 250 140 2,899 2,112 650 272 802 50 3,276 5,948 5,493 107 1,279 750 5,416 2,726 270 1,000 93,750 43,145 143,1451 308 155 40 1,842 408 295 2,940 1,237 150 2,718 650 272 651 1,865 18 755 2,120 22 681 1,714 18 755 2,120 323 343 738 898 437 1,235 The building fund is restricted to major build ing works, including the major works arising from the Quinquennial report. 12 Analysis of net assets between funds Designated Funds Restricted Funds General funds Total 2024 Fixed a55ets Current assets Creditors a nd provisions Transfer5 between funds Total net assets 9,912 64,028 9,912 147,496 129,7711 17,304 129,7711 47,200 66,164 {47,2001 Total 16
Designated Funds Restricted Funds General funds Total 20Z3 Fixed assets Current assets Creditors and provisions Transfers between funds Total net assets 9,912 64,028 9,912 342,682 1255,5891 153,875 {255,5891 99,973 124,779 199,9731 Total 13 Transactions wlth related parties The Church of England and its Diocese in St Albans is a related party, Payments were made to the Diocese of St Albans as follows: 2024 2023 Parish Share 96.983 90,313 Total Parish share is a contribution to the running costs of the Diocese and include5 M inistry stipendiary costs. 2024 2023 Wedding and funeral fees Total 1,892 1,236 Diocesan fees are collected in full as part of the fees charged. PCC fee income is included in note 2: income from fees and charges. The accounting treatment for wedding and funerals has changed to better reflect the nature of the transactions, whereby the agent (the PCC) retains a fee Irecognised a5 income) after collecting fees (recorded as a liability) on behalf of the principal (the Diocese of St Albans}. The previous treatment recognised all fees received as income, and amounts due to the Diocese as an expense. The comparable figures under the previous accounting treatment would be: 2024 2023 Wedding and funeral fees Total 4,230 4,317 Voluntary income includes donations from church members, including PCC members. Donations received without conditions from PCC members totalled £25.680. Church members, including PCC members, are reimbursed for costs incurred whilst helping with church activities. A trustee is employed by the PCC as Associate Vicar. Refer note 5 for details. There were no other transactions with related parties. 17
INDEPENDENT EXAMINER'S REPORT to the Trustees of St Paul's Letchworth I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024, which are set out on pages 7 to 17. Responsibilities and basis of report As the Charity's Trustees you are responsible forthe preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the charitls accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145151(b) of the Act. Independent ExamSner's Statement Your attention is to drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the U K and Republic of Ireland IFRS 102} in preference to the Accounting and Reporting by Charitie5: Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has since been withdrawn. We understand that thi5 ha5 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 orafter l January 2015. Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act; or the accounts do not accord with those records; or the accounts do not comply with the applicable requirement5 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. 18
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. RACOXFCA Miller & Co. Chartered Accountants 5 Imperial Court, Laporte Way Luton, Bedfordshire LU4 8FE Date: 19