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← The Parochial Church Council Of The Ecclesiastical Parish Of St John The Baptist, Croydon

2023-12-31-accounts

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The Parochial Church Council of the Ecclesiastical Parish of St John the Baptist, Croydon

(Croydon Minster & St George’s Waddon)

Annual Report and Financial Statements

for the Year Ended 31 December 2023

Charity Registration Number: 1133736

The Parochial Church Council of St John the Baptist, Croydon Report and Financial Statements for the year ended 31 December 2023

Reference and Administrative Information

Reference and Administratve Informaton 1
Trustees’ Report 3
Independent examiner’s report 9
Statement of fnancial actvites 10
Balance sheet 11
Cash fow statement 12
Notes to the Financial Statements 13

The Parochial Church Council of St John the Baptist, Croydon Report and Financial Statements for the year ended 31 December 2023

Reference and Administrative Information

PCC (Trustees)

The following individuals acted as Trustees throughout the year and to the date of this report, except where otherwise stated.

PCC members are registered as trustees of the charity. The PCC has the responsibility of co-operating with the Priest-in-Charge in promoting the ecclesiastical parish and the whole mission of the Church: pastoral, evangelistic, social and ecumenical.

Priest in Charge The Rev’d Canon Dr Andrew Bishop
Associate Priest with Responsibility for The Rev’d David Adamson-Hill
St Geroge’s, Waddon
Associate Priest The Rev’d Folake Makanjuola
(also Priest in Charge of St. Andrew’s, Croydon)
Assistant Priest The Rev’d Alan Bayes
The Rev’d Canon John Ackland
Churchwardens Arlene Esdaile
Pamela Hall
Deputy Wardens Carol Milgate
Mark Mason
Melvyn Mead
Stephen Wlilmer
Curate Vacant
Hon Treasurer Deborah Miller
Reader Elaine Cooper
Southwark Pastoral Auxiliary Diana Hemmings
Secretary to the PCC Lynne Kerwood - resigned May 2023
Jodie Richards - resigned January 2024
Deanery Synod Representatves Laurence Gough - resigned May 2023
Elizabeth Gough - resigned May 2023
Stephen Willmer
Sue Williams
Deanna Blake - appointed May 2023
Denise Mead (also the Verger / Parish Administrator)
Elected Members Julie Beaumont (2021) - resigned October 2023
Gail Winter (2021)
David Milgate (2022)
Sandra Craig (2022)
Lucy Graham (2022)
Anne Tanner (2022)
Sheila Campbell (2022)
James Carswell (2023) - appointed May 2023

1

The Parochial Church Council of St John the Baptist, Croydon Report and Financial Statements for the year ended 31 December 2023

Reference and Administrative Information

Registered address Croydon Minster St George’s Church Centre
Church Street Barrow Road
Croydon Waddon
CR0 1RN CR0 4EZ
Independent Examiner John Millidge ACA
Simpson Wreford & Partners
Sufolk House
George Street
Croydon
CR0 0YN
Bankers Natonal Westminster Bank Plc
1 High Street
Croydon
CR9 1UY
Architects Ablet Architects Ltd Howard Fairbairn MHK Architects
Kingfsher House Lambourn House
21-23 Elmfeld Road Redlands
Bromley Coulsdon
BR1 1LT CR6 2HT

2

The Parochial Church Council of St John the Baptist, Croydon Report and Financial Statements for the year ended 31 December 2023

Trustees’ Report

The Parochial Church Council (PCC) of St John the Baptist, Croydon, is a charity which was registered with the Charity Commission during 2009. However, the Church of England retains its governing status and custodial role.

The area of responsibility includes the church of St John the Baptist (known as Croydon Minster) situated in the Old Town Conservation Area of Croydon, and the daughter church of St George’s, situated on the Waddon Estate in the south of the parish. The parish is part of the Diocese of Southwark within the Church of England.

STRUCTURE, GOVERNANCE AND MANAGEMENT

PCC (Trustee) responsibilities

The PCC is responsible in law for preparing the Trustees’ Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The financial statements so produced are required to give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of that year. In preparing financial statements giving a true and fair view the Trustees should follow best practice and:

Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that financial statements produced therefrom comply with applicable legal requirements. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

All those who attend our services / members of the congregation are encouraged to register on the Electoral Roll and stand for election of the PCC. This is an important act of service within the church as PCC members are responsible, alongside their legal responsibilities as charity trustees, for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent.

PCC (Trustee) appointments

Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. The most recent APCM was held on 21 May 2023, referred to below as APCM 2023.

PCC Committees

The PCC meets regularly throughout the year. In addition to full meetings of the Council, there are 3 sub-committees, which report back to the full PCC:

Standing Commitee

The only committee required by law, it has the power to transact the business of the PCC between meetings, subject to the directions of the PCC. This committee also oversees the general financial dimension of the work of the Minster and debates strategic direction and wider issues of parish life. Members include the Priest-in-Charge, the Associate Priest (St George’s) and Churchwardens, Treasurer, and PCC Secretary. It met regularly during the year.

3

The Parochial Church Council of St John the Baptist, Croydon Report and Financial Statements for the year ended 31 December 2023

Trustees’ Report

Croydon Minster District Church Council

Within the context of the legal parochial structure, has responsibility for the day to day running of the Minster, and the Mission & Ministry of the Minster church district.

St George’s District Church Council

Within the context of the legal parochial structure, has responsibility for the day to day running of St George’s Church, and the Mission & Ministry of the St George’s District.

Public Benefit

The PCC is aware of the Charity Commission’s guidance on public benefit in ‘The Advancement of Religion for the Public Benefit’. It believes that by conducting the work of the Church of England within the Ecclesiastical Parish of St John the Baptist, Croydon, it helps to promote the whole mission of the Church (pastoral, evangelistic, social and ecumenical), and that in so doing it provides a benefit to the public by:

ACHIEVEMENTS AND PERFORMANCE

Our Mission

As the Parish of Croydon, our mission is to reach out and celebrate God’s unconditional love for the world with all people of our parish and with the wider community. As the Civic Church of Croydon, the Minster’s aim is to become a centre for those seeking to connect with our local heritage; both the Minster and St George’s strive to be living growing communities and places where all, regardless of race, gender or sexuality, may encounter God.

We aim to do this by:

Worship and Prayer

The PCC offers a range of services during the week and over the course of the year that our community find both beneficial and spiritually fulfilling. Music is at the heart of the Minster’s worship with Choral Eucharist and Evensong sung every Sunday during term

4

The Parochial Church Council of St John the Baptist, Croydon Report and Financial Statements for the year ended 31 December 2023

Trustees’ Report

time together with three weekday Choral Evensong services. Morning Prayer is said daily and regular weekday Eucharist services also provide time for quiet, intimate and reflective worship. St George’s offers a regular Sunday morning Eucharist with congregational hymns, and a said Eucharist on Thursday mornings.

All are welcome to attend our regular services and are encouraged to join the electoral roll, which as at March 2024 stood at 213. Average Sunday attendance for October 2023 was 147 Adults and 33 Children at the Minster and 22 adults and 3 children at St Georges.

Through our Fresh Expressions forms of worship, we have offered a monthly Family Service held at the Minster on Sunday afternoons, which is a more convenient time for families with younger children; and our Lent and Advent daily readings which are provided by members of the congregational community and posted online.

As well as our regular services, we enable our community to celebrate and offer thanks to God at the milestones of the journey through life, such as baptisms, marriages and funerals. Our clergy have been able to take 9 baptisms, 3 weddings & 13 funerals at the Minster and 3 baptisms, 1 wedding at 2 funerals at St George’s this year.

We also provide many and regular opportunities for local organisations, with whom we have very close links, to worship at the Minster. These include services for our own Minster Infant and Junior Schools; annual Founders Day Services for the Schools and Elder Care organisations of the Whitgift Foundation and Elis David Almshouses. During 2023, in its capacity as the Civic Church, the Minster also provided worship for the Civic Act of Remembrance in November.

Each year members of the congregation attending the APCM receive an annual report book detailing the activities of the PCC and various organisations in the life of the parish. We have also developed our online presence to make Parish life more accessible to those who cannot reach us in person, by holding small services and bible study on Zoom, offering the Parish Magazine online via our respective websites as well as in hard-copy format, maintaining our websites to share information, events and articles; and posting more regularly on Facebook, Instagram and Twitter/X.

PCC Review of the year

In the calendar year 2023 the PCC met 4 times. Major issues addressed were as follows:

Parish Support Fund

In 2023 the Minster supported the Diocese with £81,600 and St George’s with £11,918 Both churches have increased their pledges for 2024 to £83,500 (Minster) and £12,400 (St George’s).

Governance

The APCM in 2023 approved a new scheme of Governance for the Parish under the Church Representation Rules. Each church now has a District Church Council (DCC) to which the PCC delegates certain (but not all) powers. In this model decisions affecting each church are made at the most local level, but in certain areas the PCC has to approve the decision. Thus in addition to the PCC meetings, each DCC has also met 2 -3 times during the year. Discussions have been more about local issues, mainly fabric related; but any expenditure has to be discussed by the PCC.

Land

Over the past year or so, there has been ongoing discussion about the Minster Hall and how it can be made fit for purpose. This was also the principle focus of a Minster Vision Day which was held on October 15, 2023. One of the issues has been the strip of land to the north of the Minster Hall which actually belongs to Croydon Council, not the Minster. After extensive negotiation, the Council has agreed to a 999 year lease of this land for peppercorn rent, which would enable the possibility of the expansion of the footprint of the hall if desirable. The PCC resolved to authorise the Standing Committee to spend up to £8K to convey a 999 year lease of the strip of land, which was deemed a small amount in relation to potential total costs if the land were to be purchased. The lease is still being finalised between the legal teams for the Council and for the Minster via the Diocese of Southwark.

Legacy

Following the death of our much beloved friend and Organist Laureate, Martin How, the PCC has been bequeathed his entire estate which totals around £1 million. This is in the form of cash and property. Martin did not specify how it was to be used, and so the funds are unrestricted. This places a considerable responsibility on the PCC to work out how best to honour Martin and make good use of

5

The Parochial Church Council of St John the Baptist, Croydon Report and Financial Statements for the year ended 31 December 2023

Trustees’ Report

his generous legacy. It has been generally agreed that a balance should be struck between spending on projects needs within the Parish and making the capital work so that it has a lasting effect.

Financial review

The charity reports incoming resources of £377,412 (2022 - £319,826) total charitable expenditure of £317,028 (2022 - £293,250), net investment valuation gains of £8,212 (2022 – investment valuation losses of £11,498) and therefore a total surplus for the year of £368,596 (2022 – £15,078).

The reason for such a significant increase in both incoming resources and the overall surplus for the year is the receipt of part of a legacy left to the charity totalling £380,000. As referred to elsewhere in this report, further amounts are due in future financial years.

At the year end date, the charity reports total funds of £622,488 (2022 - £253,892) of which £404,290 are unrestricted (2022 - £46,334).

CHARITABLE CONCERNS

Charitable Grants

A number of special appeals were held during the year with proceeds donated to causes such as the Croydon Churches Floating Shelter; the Bishop of Southwark’s Lent Appeal and local Foodbanks. The Priest-in-Charge has discretion to respond to local need using the income from two trusts, namely the Caroline and Eliza Day Bounty and the Sarah Ann Huntingford Charity (see the notes to the financial statements).

Charitable Actvites

Throughout 2023, the Parish has worked with the charity Separated Child to provide and pack welcome kits for child migrants coming to the UK alone. Members of the Minster, St George’s and wider community, including the local MP and councillors, have joined on four occasions in the packing and a lunch.

INVESTMENT POLICY

The PCC’s long-term endowments are invested in Unit Holdings managed by the Church of England Central Board of Finance (CBF) and the Charities Official Investment Fund (COIF). Other funds are held on short-term deposit, also through the CBF, in anticipation of their likely short to medium term utilisation. Our investments have increased during the year.

RESERVES POLICY

The balance sheet components of funds are reported in the notes to the Financial Statements. The PCC measures “free reserves” for the Parish as a whole as comprising total unrestricted funds of £404,290 (2022 - £46,334) less tangible fixed assets employed for charity use of £2,589 (2022 - £2,589), therefore amounting to £401,701 (2022 - £43,745). Therefore it is derived that approximately 18 months of reserves are held (2022 – 2 months).

The PCC views a level of between 3 - 6 months unrestricted expenditure as a desirable range for free reserves.

RISK ASSESSMENT AND EXPOSURES

Health and Safety

The 2022 quinquennial inspection of the Minster buildings confirmed that the premises are safe structurally and there are no matters which will prevent their continued use for the foreseeable future. The church hall is structurally sound but there are issues around heating and maintenance which would require costly investment, so we are limiting its use, pending plans to replace it in the next few years. The St George’s quinquennial inspection took place in July 2023. Issues of concern included replacement of high level dormer windows, and maintenance of bellcote.

Both Minster and St George’s have Health & Safety, Fire Safety, Church Risk Assessment and Personal Safety Plans & Policies in place with progress against actions in these documents monitored and reported on regularly to the PCC. Fire prevention and evacuation procedures are in place with training sessions for key personnel held at regular intervals.

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The Parochial Church Council of St John the Baptist, Croydon Report and Financial Statements for the year ended 31 December 2023

Trustees’ Report

Security

The interior of the Minster church is monitored by a sophisticated camera system installed in 2001; and updates now include the lower roofs (to protect against theft of roofing lead) and the Choir Vestry. Locks to all church doors are accessed via high security keys; there is always a member of staff on duty when the church is open. All metal has been marked with SmartWater (Selecta DNA). The Personal Safety Plan identified further security risks for which mitigating action has been taken.

Protecton of children and vulnerable adults

The Parish has a child protection policy and a child protection representative who liaises directly with the diocesan child protection advisor. Any person working with young people in either church is required to complete a declaration form, and to undergo disclosure and barring checks. The policies also include safeguarding the well-being of young people and vulnerable adults. There are two safeguarding officers: one at the Minster and one at St George’s. All PCC members are required to undergo online training through the Church of England’s National Safeguarding Team.

Financial Risk

This financial year is a good news story for us, as we have been able to return a surplus on the General Fund at both Croydon Minster and St George’s. At St George’s this was due to controlled expenditure in the first 9 months of the year, but in the last few months this was partially eroded due to a short-term cost pressure in regards to a new utility contract. At the Minster, the surplus was due to the part release of a large bequest from a beloved long-term member of our congregation. This bequest will put our financial position on a much more secure footing for many years to come. In previous years, we have run at an extremely low reserve level. This is no longer an issue as our free reserves in 2023 have increased to over 1 year. As a PCC, we do, however, need to ensure that the bequest is used to better our Parish and not rescue our financial position each year going forward.

PLANS FOR THE FUTURE

Ministry

Work which will be developed further in 2024 includes:

Capital Projects

The PCC’s key priorities in 2024 are as follows:

The PCC agreed the need for a policy on property that it owns and the most effective use of the properties to enable ministry and mission in the parish. This will be taken forward in 2024.

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The Parochial Church Council of St John the Baptist, Croydon Report and Financial Statements for the year ended 31 December 2023

Trustees’ Report

INDEPENDENT EXAMINER

John Millidge ACA, a Parter of Simpson Wreford & Partners, was appointed at the Annual Parochial Church Meeting on 21 May 2023 and will be proposed for re-appointment at the forthcoming Annual Parochial Church Meeting.

Approved by the PCC on ……………………………. and signed on its behalf:

…………………………………………………………………..

The Rev’d Canon Dr Andrew Bishop Chair

…………………………………………………………………..

Deborah Miller Hon Treasurer

8

Independent Examiner’s Report to the Parochial Church Council of St John the Baptist, Croydon (Croydon Minster)

I report to the trustees on my examination of the accounts of the Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) (“the charity”) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s Statement

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

John Millidge ACA Simpson Wreford & Partners Suffolk House, George Street Croydon, CR0 0YN

Date: …………………………………..

9

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Statement of Financial Activities

for the Year Ended 31 December 2023

Note
Incoming resources
2
Voluntary income
Activities for generating funds
Income from investments
Church activities
Other ordinary incoming resources
Resources expended
3
Fundraising costs
Church activities
Net surplus / (deficit)
Transfers
Gross transfers between funds
Other recognised gains and losses
Investment revaluation gains / (losses)
Net movement in funds
Reconciliations of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
542,311
14,613
30,120
31,760
695		 Restricted
Funds
£
38,830
-
2,461
16,622
-		 Endowment
Funds
£
-
-
-
-
-		 Total
2023
£
581,141
14,613
32,581
48,382
695		 Total
2022
£
231,974
19,548
28,565
38,792
947
619,499
4,352
257,191		 57,913
-
55,485		 -
-
-		 677,412
4,352
312,676		 319,826
1,566
291,684
261,543 55,485 - 317,028 293,250
357,956
-
-		 2,428
-
-		 -
-
8,212		 360,384
-
8,212		 26,576
-
(11,498)
357,956 2,428 8,212 368,596 15,078
46,334 121,178 86,380 253,892 238,814
404,290 123,606 94,592 622,488 253,892

10

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Balance Sheet

as at 31 December 2023

Note
Fixed assets
Tangible fixed assets
6
Fixed asset investments
7
Current assets
Debtors
8
Short term deposits
9
Cash at bank and in hand
Creditors
Amounts falling due within one year
10
Net current assets
NET ASSETS
Accumulated funds
Unrestricted funds
12
Restricted funds
12
Endowment funds
12		 £
£
2,589
94,592
97,181
36,782
44,048
481,469
562,299
36,992
525,307
622,488
404,290
123,606
94,592
622,488
2023		 £
£
2,589
86,380
88,969
24,931
43,737
130,753
199,421
34,499
164,922
253,891
46,334
121,178
86,380
253,892
2022		 £
£
2,589
86,380
88,969
24,931
43,737
130,753
199,421
34,499
164,922
253,891
46,334
121,178
86,380
253,892
2022
88,969
164,922
562,299
36,992		 199,421
34,499
253,891
46,334
121,178
86,380
253,892

24.04.24

These financial statements were approved by the Parochial Church Council on …........................................... and were signed on their behalf by:

…................................................................. Pamela Hall Churchwarden

…................................................................. Deborah Miller Hon Treasurer

11

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Cash Flow Statement

for the year ended 31 December 2023

Operating activities
Net surplus / (deficit) for the year
Adjustments for:
- Investment revaluation surplus
- (Increase) / decrease in debtors
- Increase / (decrease) in creditors
Cash generated from operating activities
Cash generated from operating activities
Cash and short term deposits at 1 January 2023
Cash and short term deposits at 31 December 2023		 Total
2023
£
368,596
(8,212)
(11,851)
2,493
351,026
351,026
174,491
525,517		 Total
2022
£
15,078
11,498
12,497
7,057
46,130
46,130
128,361
174,491

12

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

1 Accounting policies

Basis of preparation

The PCC is a public benefit entity with the meaning of FRS102.

The financial statements are prepared under The Church Accounting Regulations 2006 and The Charities Act 2011. These incorporate the requirements of The Charities' Statement of Recommended Practice (SORP FRS102).

The financial statements have been prepared in order to give a "true and fair view" and has involved following Statement of Recommended Practice (SORP FRS102).

The financial statements are prepared on the accruals basis and under the historical accounting convention except that fixed asset investments are reported at market value.

The financial statements are prepared in pound sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements include all transactions, assets and liabilities for wh8ich the PCC is responsible in law. They do not include the financial statements of church groups that owe their affiliation to another body, nor those which are informal gatherings of church members.

Going concern

At the time of approving the financial statements the PCC has a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future. Accordingly the going concern basis of accounting is applied in the preparation of the financial statements.

The principal accounting policies adopted in the preparation of the financial statements are as follows:

Aggregation

The financial statements aggregate the financial activities and balance sheet of Croydon Minster with those of the daughter church of St George's Waddon.

Income (Note 2)

This is accounted for gross and included when the PCC becomes legally entitled to the use of the resources, an inflow of economic benefit is probable and the monetary value can be measured with sufficient reliability.

Voluntary income

Collections and planned giving are recognised when received.

Income tax recoverable on gift aid donations is recognised when the related income is received.

Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is probable and the amounts due are reliably quantifiable.

Income from investments

Dividends are accounted for when received. Interest entitlements are accounted for when received.

Gains and losses on investments

Realised gains and losses are recognised when investments are sold.

Unrealised gains and losses are accounted for on revaluation annually each 31 December, with increases or decreases in valuation recognised within the Statement of Financial Activities.

Expenditure (Note 3)

Expenditure is recognised and accounted for as soon as there is legal or constructive obligation and settlement is probable and quantifiable.

13

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

Accounting policies (continued)

Expenditure (Note 3) (continued)

Generating funds costs are those incurred in the running of fundraising activities.

Church activities includes expenditure on the day to day operation and management of the Church and include both the direct and indirect support costs relating thereto.

Fund accounting

Tangible fixed assets and depreciation

(i) Consecrated land and buildings and moveable church furnishings: Consecrated land and beneficed property is excluded from the financial statements in accordance with S10(2)(a) and (c) of the Charities Act 2011. No value Is placed on moveable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. They are listed in the church's inventory which can be inspected at any time. Any expenditure incurred on consecrated or beneficed buildings and moveable church furnishings, whether maintenance or improvement is written off as expenditure within the Statement of Financial Activities when incurred.

(ii) Other land and buildings

Other land and buildings held on behalf of the PCC for its own purposes are included at the carrying value as of 1 January 2015 (cost less accumulated depreciation). Further depreciation is not charged as the estimated residual values of the assets exceed the carrying value.

(iii) Other fixtures, fittings and office equipment

Any such expenditure, if incurred, will be capitalised at cost and written off on a straight line basis over five years.

Financial instruments

The PCC only has financial assets and liabilities of a kind that qualify as basic financial instruments, Basic financial instruments are initially recognised at transaction value and subsequently (if ever different) at their settlement value.

Operating leases

Costs of operating leases are included in the statement of financial activities as incurred.

Taxation

The PCC has charitable status and therefore is not liable to income tax on its various forms of income on the basis that it is applied for charitable purposes. Income tax is recoverable on gift aid donations and is accounted foe as it becomes receivable.

14

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

2 Incoming resources
Voluntary income
Planned giving
Service collections
Sundry donations and appeals
Income tax recoverable
Grants
Legacies
Activities for generating funds
Fundraising events
Bookstall
Car parking
Income from investments
Rental income
Dividend and interest receivable
Church activities
Church and hall lettings
Wedding and funeral fees
Parish magazines
Other church activities
Other ordinary incoming resources
Sundry income
Total incoming resources		 Unrestricted
Funds
£
69,633
16,118
16,223
19,571
40,766
380,000		 Restricted
Funds
£
215
-
3,195
578
34,842
-		 Total
2023
£
69,848
16,118
19,418
20,149
75,608
380,000		 Total
2022
£
72,225
18,726
12,541
23,439
100,043
5,000
542,311
10,060
150
4,403		 38,830
-
-
-		 581,141
10,060
150
4,403		 231,974
6,115
-
13,433
14,613
27,760
2,360		 -
-
2,461		 14,613
27,760
4,821		 19,548
25,686
2,879
30,120
8,900
15,727
1,749
5,384		 2,461
-
-
-
16,622		 32,581
8,900
15,727
1,749
22,006		 28,565
6,608
16,622
1,200
14,362
31,760
695		 16,622
-		 48,382
695		 38,792
947
695 - 695 947
619,499 57,913 677,412 319,826

15

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

3 Resources expended

3 Resources expended
4 Fundraising costs
Fundraising events
Church activities
Missionary and charitable giving
-
Grants and donations
Ministry costs
-
Diocesan parish contribution
-
Other clergy costs
-
Church running expenses
-
Church maintenance
-
Other church activities
-
Worship expenses
-
Choir and music
-
Sunday school costs
-
Church hall running costs
-
Parish magazine
-
Staff salaries
-
Wedding and funeral costs
-
Office costs
-
Independent examination
Total resources expended
Staff costs		 Unrestricted
Funds
£
4,352		 Restricted
Funds
£
-		 Total
2023
£
4,352		 Total
2022
£
1,566
4,352
742
95,043
7,217
36,467
4,219
1,123
3,564
46,237
-
7,339
797
37,375
-
12,540
4,528		 -
200
-
-
-
13,413
2,459
-
37,550
1,501
-
-
-
-
362
-		 4,352
942
95,043
7,217
36,467
17,632
3,582
3,564
83,787
1,501
7,339
797
37,375
-
12,902
4,528		 1,566
816
91,682
10,577
31,135
29,330
1,070
1,596
63,920
929
(682)
501
37,272
6,578
11,470
5,490
257,191 55,485 312,676 291,684
261,543 55,485 317,028 293,250
Salaries (including service fees)
Pension costs		 Total
2023
£
68,849
1,705		 Total
2022
£
44,795
1,060
70,554 45,855
Staff costs
Total Total
2023 2022
£ £
Salaries (including service fees) 68,849 44,795
Pension costs 1,705 1,060
70,554 45,855

Salaries of £22,807 were grant funded (2022 - £16,987).

The average number of employees during the year were 4 (2022 - 3).

No PCC members received any remuneration or other benefits from the Minster in employment or other capacity, neither did they receive any reimbursements of travelling or other expenses other than as reported in Note 15.

16

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

5 Comparative Statement of Financial Activities For the year ended 31 December 2022

Comparative Statement of Financial Activities
For the year ended 31 December 2022
Incoming resources
Voluntary income
Activities for generating funds
Income from investments
Church activities
Other ordinary incoming resources
Resources expended
Fundraising costs
Church activities
Net surplus / (deficit)
Transfers
Gross transfers between funds
Other recognised gains and losses
Investment revaluation gains / (losses)
Net movement in funds
Reconciliations of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
174,309
19,448
26,117
25,180
947		 Restricted
Funds
£
57,665
100
2,448
13,612
-		 Endowment
Funds
£
-
-
-
-
-		 Total
2022
£
231,974
19,548
28,565
38,792
947
246,001
1,566
230,713		 73,825
-
60,971		 -
-
-		 319,826
1,566
291,684
232,279 60,971 - 293,250
13,722
-
-		 12,854
-
-		 -
-
(11,498)		 26,576
-
(11,498)
13,722
32,611		 12,854
108,325		 (11,498)
97,878		 15,078
238,814
46,333 121,179 86,380 253,892

17

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

6 Tangible fixed assets (for use by the PCC)

7 Cost
At 1 January 2023 and 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
Net book value
At 31 December 2022
At 31 December 2023
Fixed asset investments
At 1 January
Revaluation gain / (loss) in the year
At 31 December
Represented by
Church of England CBF Investment Fund units
-
Day and Sunday School Fund (1,879 units)
-
Choir Scholarship Fund (2,103 units)
COIF Charities Ethical Investment Fund units:
-
Battersbee Fund (1,516 units)		 Total
2023
£
86,380
8,212		 Freehold
Land and
Buildings
£
16,280
13,691
-
13,691
2,589
2,589
Total
2022
£
97,878
(11,498)
94,592 86,380
42,477
47,552
4,563		 38,795
43,430
4,155
94,592 86,380

18

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

8 Debtors

Income tax recoverable
Other debtors
Prepayments
9
Short term deposits
Short term deposits		 Total
2023
£
-
26,187
10,595		 Total
2022
£
5,637
13,850
5,444
36,782 24,931
Total
2023
£
44,048		 Total
2022
£
43,737

Funds not required for day-to-day expenditure are deposited with the Central Board of Finance Church of England deposit fund.

10 Creditors: amounts falling due within one year

Sick and poor fund (note 13)
Other creditors and accruals		 Total
2023
£
14,983
22,009		 Total
2022
£
14,252
20,247
36,992 34,499

11 Analysis of net assets by fund

Tangible fixed assets
Fixed asset investments
Debtors
Short term deposits
Cash at bank
Creditors: amounts falling due within one year		 Unrestricted
Funds
£
2,589
-
32,169
44,048
362,476
(36,992)		 Restricted
Funds
£
-
-
4,613
-
118,993		 Endowment
Funds
£
-
94,592
-
-		 Total
2023
£
2,589
94,592
36,782
44,048
481,469
(36,992)
404,290 123,606 94,592 622,488

19

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

11 Analysis of net assets by fund (continued)
Comparative information
Tangible fixed assets
Fixed asset investments
Debtors
Short term deposits
Cash at bank
Creditors: amounts falling due within one year		 Unrestricted
Funds
£
2,589
-
24,932
-
53,312
(34,499)		 Restricted
Funds
£
-
-
-
43,737
77,441
-		 Endowment
Funds
£
-
86,380
-
-
-
-		 Total
2022
£
2,589
86,380
24,932
43,737
130,753
(34,499)
46,334 121,178 86,380 253,892

12 Movement in funds

Unrestricted (general) funds
-
Croydon Minster
-
St George's, Waddon
Restricted funds
-
Fabric fund
-
Day and Sunday School
-
Choir scholarship
-
Friends of music
-
Croydon Sings!
-
St George's, Waddon
Endowment funds
-
Day and Sunday School
-
Choir scholarship
-
Battersbee
Total funds		 At 1
January 23
£
28,346
17,988		 Incoming
Resources
£
589,227
30,272		 Resources
Expended
£
(232,887)
(28,656)		 Transfers
In / (Out)
£
-
-		 At 31
December 23
£
384,686
19,604
46,334 619,499 (261,543) - 404,290
70,616
9,727
3,037
4,350
13,756
19,692		 29,842
1,161
1,300
16,110
1,090
8,410		 (13,413)
(1,501)
(4,115)
(19,285)
(14,846)
(2,325)		 -
-
-
-
-
-		 87,045
9,387
222
1,175
-
25,777
121,178 57,913 (55,485) - 123,606
38,795
43,430
4,155		 3,682
4,122
408		 -
-
-		 -
-
-		 42,477
47,552
4,563
86,380 8,212 - - 94,592
253,892 685,624 (317,028) - 622,488

20

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

**12 ** Movement in funds (continued)
Comparative information
Unrestricted (general) funds
-
Croydon Minster
-
St George's, Waddon
Restricted funds
-
Fabric fund
-
Day and Sunday School
-
Choir scholarship
-
Friends of music
-
Croydon Sings!
-
St George's, Waddon
Endowment funds
-
Day and Sunday School
-
Choir scholarship
-
Battersbee		 At 1
January 22
£
22,315
10,298		 Incoming
Resources
£
218,109
27,892		 Resources
Expended
£
(212,077)
(20,203)		 Transfers
In / (Out)
£
-
-		 At 31
December 22
£
28,347
17,987
32,613 246,001 (232,280) - 46,334
66,399
9,502
6,317
10,415
-
15,692		 30,942
1,155
1,293
14,990
18,900
6,544		 (26,726)
(929)
(4,572)
(21,055)
(5,145)
(2,544)		 -
-
-
-
-
-		 70,615
9,728
3,038
4,350
13,755
19,692
108,325 73,824 (60,971) - 121,178
43,945
49,196
4,738		 -
-
-		 (5,150)
(5,767)
(582)		 -
-
-		 38,795
43,429
4,156
97,879 - (11,499) - 86,380

Unrestricted (general) funds

The financial results of Croydon Minster and its daughter church, St George's, Waddon, are aggregated in these financial statements, but with their separately identifiable unrestricted and restricted fund movements.

Fabric fund

This fund has its origin in the receipt of a regular sum from the Church Tenements charity (charity registration number: 312554) which is given for the ongoing repair and maintenance of the fabric and ornaments of the church building.

Choir scholarship fund (Restricted / Endowment)

This fund was established between 30 and 45 years ago to produce income which is received into a restricted income fund to fund choir scholarships and other awards. The capital is invested in CBF investment fund units, and is included in the Balance Sheet within Fixed Asset Investments.

Friends of music fund (Restricted)

This fund supports choral activities in the Minster, notably after school music programmes and major concerts and musical events.

Croydon Sings! fund (Restricted)

This fund relates to a grant received from Cathedral Music Trust for the purpose of appointing a singing development leader (Sophie Garbisu).

21

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

12 Movement in funds (continued)

Battersbee fund (Endowment)

This fund was established in the early 1900s to produce income available for the general purposes of the PCC. Income is received into the general fund. The capital fund is invested in CBF investment fund units, being included in the Balance Sheet as Fixed Asset Investments.

13 Vicar and Churchwardens' trusts

St Edmund's Charity (charity registration number 3991760)

~~The objects of the charity are for the advancement of educ~~ ation of persons resident in the area of benefit who are in financial need and the advancement of religion (including religious education) in the area of benefit in accordance with the doctrines, practices and principles of the Church of England. The charity's assets were valued at £990,128 as at 31 March 2023 (2022 - £1,065,511). The trustees use income from the charity's investment portfolio to make grants in accordance with the charity's objectives. In the year to 31 December 2023 the charity made a grant of £24,000 to the Minster and £5,000 to St George's Waddon (2022 - £25,000 and £4,000 respectively).

Church Tenements Charity (charity registration number 312554)

This charity receives rental income 50% of which is for the benefit of the Fabric Fund of Croydon Minster for the upkeep of the fabric of the church. In 2023 the Minster received £29,842 (2022 - £24,000) from this source.

(ii) Trusts for the relief of poverty

The Croydon Almshouses and Relief in Need Charities (charity registration numbers 204963 & 810114)

Whilst separately registered, these charities are associated by the same Scheme of the Charity Commission (1974). The Elis David Almshouses is an independent living, sheltered housing complex for retired residents of Croydon. The Relief in Need Charity makes grants to relieve either generally or individually disadvantaged persons of all ages in Croydon who are in conditions of need, hardship or distress (including ill health).

Sick and Poor Fund

The following provides summary information concerning two capital (endowment) funds established for this purpose, both of which are vested in the Priest-in-Charge, and the income from which is available for disbursement at the Priest-in-Charge's discretion:

Endowment capital: (Market values)
Caroline and Eliza Day Bounty
(Charity Ethical Investment Fund - 9,667.38 income shares)
Sarah Ann Huntingford Charity
(Charity Ethical Investment Fund - 295.34 income shares)
Income in the year
Expenditure in the year
Accumulated income:
At 31 December 2023 (note 10)		 2023
£
29,099
899
29,998
858
(127)
731
22,009		 2022
£
26,496
809
27,305
851
(10)
841
14,252

22

The Parochial Church Council of St John the Baptist, Croydon (Croydon Minster) Notes to the Financial Statements (continued)

for the Year Ended 31 December 2023

14 Capital commitments

During the year, St George's Church, Waddon, paid an initial deposit of £4,613 towards the installation of a new sound system for the church, which has been classified as a prepayment within these financial statements. A further £17,866 is payable in 2024 when the system is to be installed. There were no capital commitments in 2022.

15 Transactions with member of the PCC

One member of the PCC (therefore a Trustee) is employed by the charity. Their salary and pension costs of £20,363 (2022 - £20,365) included £4,575 (2022 - £3,450) in respect of service fees.

16 Related party transactions

As described in note 13, the charity received donations of £29,000 from St Edmund's Charity (2022 - £29,000) and £29,842 from Church Tenements Charity (2022 - £24,000). Both charities are considered related parties on account of shared trustees.

17 Post Balance Sheet Events

The remaining balance of Martin How's estate (who passed away in July 2022) will be received in 2024, and in March 2024 an amount of £700,000 was received. Further amounts are due to be received by the Minster later in the year, however as at the date the financial statements were authorised for issue, these were unable to be valued accurately.

23