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2022-12-31-accounts

St Peter's, Notting Hill

Report and Accounts Year ended 31 December 2022

The Ecclesiastical Parish of St Peter, Notting Hill

CHARITY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2022

Members of the Parochial Church Council

Ex Officio Members

Incumbent and chairman Patrick Allerton
Church Wardens Amooti Binaisa William Josten
Elected Members
Andrew Colvin Jennifer Josten Andrew Simmons
Christopher East Alexandra Rogers
The following individuals were elected as members of the PCC in 2022
Camilla Gauntlett Matthew O'Regan Katharine Dryer
Alvin Ng Bernhard Ramseyer Kevin Edwards
The following individuals resigned as members of the PCC in 2022
Lulu Ahad Victoria Gell Jean Ross Russell
Tomasso Crackett Jonas Masahi James Steel
The following individuals resigned as members of the PCC in 2023
Sandra Crane
Custodian Trustees The London Diocesan Fund
Charity Registration Number 1133807
Principal Address 59a Portobello Road
London
W11 3DB
Independent Examiner Sarah Crispin ACA
Stewardship
1 Lamb's Passage
London
EC1Y 8AB
Bankers Unity Trust Bank plc
Four Brindleyplace
Birmingham
B1 2JB
Contents Page
Charity Information 1
Annual Report of the Members of the Parochial Church Council 2-4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8-18
Detailed Statement of Financial Activities with Comparatives 19

Page 1

The Ecclesiastical Parish of St Peter, Notting Hill

ANNUAL REPORT OF THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31 DECEMBER 2022

The Members of the Parochial Church Council (the 'PCC'), who are the charity's trustees for the purposes of charity law, have pleasure in presenting their report together with the financial statements for the year.

Objects of the charity

The charity is responsible for co-operating with the incumbent, in promoting in the ecclesiastical parish, the whole mission of the Church be it pastoral, evangelistic, social or ecumenical. The PCC is also responsible for maintaining certain church property situated within the parish, namely St Peter's Church, Kensington Park Road, London, W11 2PN.

Summary of the charity's main activities and achievements

To further the above objects and vision, the charity's main activities and achievements were as follows:

2022 was another busy year for us with some significant growth as a church. A number of people moved on from the church, but even more came and joined.

We had our usual regular 10.30am service as well as the introduction of a monthly evening service at 6.30pm, called ‘The Well’, which became a bi-monthly service in the last quarter of the year, with the plan of going weekly very soon. We were also holding a monthly 8.30am service throughout last year, providing a different look and feel to our normal service, with organ hymns and communion etc.

Easter was a busy time once again, with many visitors and an amazing walk of witness carrying the cross down the Portobello Road and stopping to sing hymns and share 3-minute reflections. It was a very powerful time. Christmas was also a very busy season, with hundreds attending our carols by candlelight and outdoor carols (with petting zoo!) events! Many gospel seeds were sown.

We were delighted to be able to partner with Glass Door once again, helping the homeless by providing a place for them to spend Tuesday nights as well as laying on a 3-course meal cooked by teams of volunteers. This runs throughout the winter months.

Our midweek Life Groups continued to meet and study God’s word as well as provide support for one another. They are the lifeblood of the church.

Most the charity's activities are undertaken by volunteers and the charity could not operate effectively without their efforts.

In planning the activities the PCC have applied the guidance on public benefit issued by the Charity Commission.

Page 2

The Ecclesiastical Parish of St Peter, Notting Hill

ANNUAL REPORT OF THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, Governance and Management

The charity is registered with the Charity Commission and operates under the Charities Act 2011. The governing documents for the charity are the Parochial Church Councils (Powers) Measure 1956 (as amended) and the Church Representation Rules.

The appointment of PCC members is governed by, and set out in, the Church Representation Rules. The PCC comprises ex-officio members (which includes clergy and churchwardens), elected members and co-opted members. The PCC organise elections annually before the Annual Parochial Church Meeting (APCM) to fill vacancies.

Responsibility for setting policy and for determining the parameters within which the charity should operate rests with the PCC who meet regularly to monitor the activities of the charity. Responsibility for the day to day operation of the charity has been delegated to a management team led by the incumbent.

Financial review

During the year total income decreased by £30,500 to £429,300 and total expenditure decreased by £75,800 to £288,100. As a result, the surplus for the year was £141,200.

During the year unrestricted income increased by £74,500 to £322,300 and unrestricted expenditure increased by £68,300 to £288,100. During the year general funds increased by £48,800 to £97,600.

Reserves policy

The PCC have determined that the charity should aim to hold unrestricted, general cash of no less than £50,000 (which equates to about 3 months' of unrestricted expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of £127,600 of which £117,300 is general funds and £10,300 is designated for redevelopment.

Key risks and uncertainties

The charity is exposed to various risks - be they operational, financial or reputational. The PCC review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks. The PCC consider different categories of risk, namely risks related to financial, regulatory, statutory, safeguarding, legal and operational matters.

Other matters

With regard to the PCC’s obligations to safeguard children and vulnerable adults, the members of the PCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.

The last quinquennial inspection was held in 2021; Having reviewed its findings, the members of the PCC have determined that some work may be required in due course; the redevelopment fund may be used to carry out some works.

Page 3

The Ecclesiastical Parish of St Peter, Notting Hill ANNUAL REPORT OF THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31 DECEMBER 2022

Plans for the future

We had a church weekend away at the end of January 2023, where around 80 church members stayed off site and received teaching, ministry and had lots of fun. Our new children’s minister and administrator, Rohama Waseem, started that same month and we are also planning to bring on an Associate Vicar and possibly a women’s worker too.

With regard to the church building, we are shortly to employ a contractor to refurbish the floor in the church.

Statement of Responsibilities of the Members of the Parochial Church Council

The PCC is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources for the financial year. In preparing these financial statements, the PCC are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material

departures disclosed and explained in the financial statements; and

  1. prepare the financial statements on a going concern basis unless it is inappropriate to presume

that the charity will continue in operation.

The PCC is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. 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.

Approval

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

Pat Allerton ......................................... Reverend Patrick Allerton

Date: 15 May 2023

Page 4

INDEPENDENT EXAMINER'S REPORT

TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF

The Ecclesiastical Parish of St Peter, Notting Hill

('the Charity')

I report to the members of the PCC (who are also the charity's trustees) on my examination of the accounts of the Charity for the year ended 31 December 2022 on pages 6 to 19 following, which have been prepared on the basis of the accounting policies set out on pages 8-10.

Responsibilities and basis of report

As members of the PCC 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 Charity’s 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 145(5)(b) of the Act.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I 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 matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

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

Sarah Crispin

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

Sarah Crispin ACA Institute of Chartered Accountants in England and Wales Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 15 May 2023

Page 5

The Ecclesiastical Parish of St Peter, Notting Hill

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
Total income and endowments
EXPENDITURE ON:
Charitable activities
5
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
15		 Unrestricted
Funds
£
232,783
89,494
-
322,277
288,112
288,112
-
34,165
108,978
143,143
143,143
124,277
267,420		 Restricted
Funds
£
107,015
-
-
107,015
-
-
-
107,015
(108,978)
(1,963)
(1,963)
33,320
31,357		 Total
Funds
2022
£
339,798
89,494
-
429,292
288,112
288,112
-
141,180
-
141,180
141,180
157,596
298,776		 Total
Funds
2021
£
303,546
156,209
10
459,764
363,895
363,895
-
95,869
-
95,869
95,869
61,727
157,596

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

All income and expenditure derive from continuing operations.

The notes on page 8-18 form part of these accounts.

Page 6

The Ecclesiastical Parish of St Peter, Notting Hill

BALANCE SHEET

AS AT 31 DECEMBER 2022

Note
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors
8
Cash at bank and in hand
9
CREDITORS: Amounts falling
due within one year
10
Net current assets / (liabilities)
Total assets less current liabilities
CREDITORS: Amounts falling due
11
after more than one year
TOTAL NET ASSETS
FUND BALANCES
15
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
159,522
159,522
20,094
127,648
147,742
(39,844)
107,898
267,419
-
267,419
97,597
169,822
267,419
-
267,419		 Restricted
Funds
£
-
-
-
40,728
40,728
(9,371)
31,357
31,357
-
31,357
-
-
-
31,357
31,357		 Total
Funds
2022
£
159,521
159,521
20,094
168,376
188,470
(49,215)
139,255
298,776
-
298,776
97,597
169,822
267,419
31,357
298,776		 Total
Funds
2021
£
65,158
65,158
10,043
144,901
154,944
(59,173)
95,771
160,929
(3,333)
157,596
48,818
75,458
124,276
33,320
157,596

The financial statements were approved by the members of the PCC and were signed on its behalf by:

Pat Allerton .......................................... Reverend Patrick Allerton Date: 15 May 2023

Alvin Ng ................................ Alvin Ng, Treasurer

Charity number: 1133807

The notes on page 8-18 form part of these accounts.

Page 7

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Statutory Information

The Parochial Church Council of the Ecclesiastical Parish of St Peter, Notting Hill is a charity registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention. The financial statements include all activities for which the PCC is legally responsible; the activities of informal gatherings of church members and groups that owe their main affiliation to another body and are excluded.

These financial statements have been prepared in accordance with The Church Accounting Regulations 2006, the 'Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)' ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The PCC have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The PCC have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the PCC have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The PCC have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income (which includes planned giving, collections and other donations) is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part income is generally recognised when it is received by, or on behalf of, the PCC. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

The charity relies on volunteers to carry out many of its activities, particularly church services. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from St Peter's Nursery, church lettings and church events.

Page 8

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Contributions in respect of the diocesan parish share are included in the Statement of Financial Activities for all amounts agreed to being payable for the financial year. Any contributions that have not been paid over by the year end are included as a creditor.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the PCC in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

e) Tangible fixed assets

Consecrated and beneficed property is not included in these financial statements by virtue of s.10(2) of the Charities Act 2011. All expenditure on consecrated or beneficed buildings is written off in the year in which it is incurred.

Movable church furnishings held by the incumbent and Churchwardens on special trust for the PCC and which require a faculty for disposal are capitalised in accordance with the policy set out below. These items are regarded as inalienable property and are listed in the church's inventory which can be inspected at any reasonable time. Inalienable property acquired prior to 2000 has not been capitalised as there is insufficient cost information available.

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 50 years after taking account of the building's residual value Leasehold improvements Over the lease term or, if shorter, expected useful life Equipment Over 3 to 7 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

Fixed asset investments are held to generate income and / or for their investment potential. Current asset investments are investments that are held specifically for sale or are investments that the charity expects to sell by the next balance sheet date. Investments, other than social investments (see below), are valued as follows:

g) Leased assets

Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

Page 9

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

h) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

i) Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

j) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

k) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

l) Critical accounting estimates and areas of judgement

3 Donations and legacies

Donations of cash and similar
Donations in kind (note 3a)
Government grants (note 3b)
Other grants receivable
Legacies receivable
Income tax recoverable
ations in kind comprise:
Donated facilities		 Unrestricted
£
187,049
13,500
1,022
2,641
-
28,571
232,783		 Restricted
£
58,313
-
16,933
-
25,000
6,769
107,015		 2022
£
245,363
13,500
17,955
2,641
25,000
35,339
339,798
2022
£
13,500
13,500		 2021
£
251,013
-
13,013
-
-
39,520
303,546
2021
£
-
-

a Donations in kind comprise:

Donated facilities comprise of office space that that has been made available rent-free where parish staff are based.

b
Job Retention Scheme grants
Listed Places of Worship grants
4
Income from charitable activities
Church activities and events
Church lettings
St Peter's Nursery - Government funding
St Peter's Nursery - Other
Government grants comprise:		 Unrestricted
£
-
1,022
1,022
Unrestricted
£
8,008
81,486
-
-
89,494		 Restricted
£
-
16,933
16,933
Restricted
£
-
-
-
-
-		 2022
£
-
17,955
17,955
2022
£
8,008
81,486
-
-
89,494		 2021
£
12,435
578
13,013
2021
£
4,471
36,131
58,913
56,695
156,209

Page 10

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

5 Charitable expenditure

a
Costs incurred directly on specific activities
Ministry expenses:
Parish share
Ministry staff costs
Clergy expenses
Church services and activities
Property expenses:
Operational costs for church
Major repairs and renewals to church
Donations in kind expensed (note 3b)
Property staff costs
Operational costs for clergy accommodation
Nursery school expenses:
Operational costs for Nursery
Nursery staff costs
Nursery support staff costs
Grants payable (note 5c)
b
Costs incurred on support & administration
Governance costs
Independent examiner's fee
Other
Support staff costs
Staff training, development and recruitment
Printing, postage and stationery
Bank charges and fundraising cost
Professional fees
Licences and Subscriptions
Depreciation of tangible fixed assets
Insurance
Total expenditure		 Unrestricted
£
85,200
23,904
530
21,741
131,375
30,414
-
13,500
20,446
318
64,678
-
-
-
-
25,023
221,076
2,640
-
2,640
35,491
504
1,607
1,228
350
1,991
15,309
7,917
67,036
288,112		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2022
£
85,200
23,904
530
21,741
131,375
30,414
-
13,500
20,446
318
64,678
-
-
-
-
25,023
221,076
2,640
-
2,640
35,491
504
1,607
1,228
350
1,991
15,309
7,917
67,036
288,112		 2021
£
85,200
19,711
224
6,617
111,753
15,975
3,837
-
21,570
308
41,689
9,376
125,987
4,923
140,286
19,001
312,729
2,976
-
2,976
33,296
311
1,671
559
581
2,079
2,247
7,448
51,166
363,895

The fee payable to the independent examiner for examining the accounts was £2,340 (2021: £3,300).

Staff costs include charges from St Peter's Hall (1991) Charity during the year.

Page 11

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

c Grants payable

Institutions
£
Grants for UK and overseas mission
15,523
15,523
The comparatives for the previous year are as follows:
Institutions
£
Grants for UK and overseas mission
13,001
13,001
The charity's principal grants to institutions comprised:
British Red Cross
Diocese of London
Glass Door
Just Earth
Kensington & Chelsea Foodbank
Open Doors
Grants to institutions for less than £1,000 each
Gross wages and salaries
Social security
Pension costs
Other employment benefits
Analysis of staff costs, the cost of key management personnel and trustee remuneration		 Individuals
£
9,500
9,500
Individuals
£
6,000
6,000
2022
£
1,000
5,760
1,494
-
3,485
3,485
298
15,523
2022
£
82,567
1,881
2,470
-
86,918		 2022
£
25,023
25,023
2021
£
19,001
19,001
2021
£
-
4,260
-
2,280
2,280
2,280
1,901
13,001
2021
£
201,727
7,004
4,889
-
213,619

6 Analysis of staff costs, the cost of key management personnel and trustee remuneration

Of which, staff costs of £7,078 (2021: £8,132) were charged to St Peter's Hall (1991) Charity during the year.

Staff costs include £36,835 (2021: £33,100) charged from St Peter's Hall (1991) Charity during the year.

The average monthly number of employees during the year was 3 (2021: 8). Most of the charity's activities are carried out by volunteers.

Payroll costs included redundancy and termination payments totalling £nil (2021: £31,577) and comprise statutory payments and exgratia payments where this was considered appropriate. Redundancy and termination payments are charged when the liability or obligation arises.

No staff received salaries at a rate of more than £60,000 per annum.

P Allerton (a clergy member of the PCC) receives a stipend from the Diocese and so is not an employee. P Allerton is provided with accommodation (which is customary for clergy). Some of the Parish Share paid to the Diocese is used to help meet the stipendiary costs and clergy housing. Additional costs of the accommodation to the PCC are disclosed in note 5 'Charitable Expenditure'. The charity also reimbursed expenses to P Allerton; again these costs are disclosed in note 5 'Charitable Expenditure' under the heading 'Clergy expenses'.

P Allerton (a clergy member of the PCC) is considered to be key management. During the year key management received employment benefits totalling £Nil (2021: £Nil).

No member of the PCC received employment benefits in either the current or preceding year.

Page 12

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

7 Tangible fixed assets

Cost
At 1 January 2022
Additions
At 31 December 2022
Accumulated depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
8
Debtors
Falling due within one year:
Trade debtors
Tax recoverable
Other debtors
Prepayments and accrued income
9
Cash at Bank and in Hand
Cash at bank with immediate access
Cash (in hand)
10
Creditors: liabilities falling due within one year
Trade creditors
Other creditors
Accruals
Deferred income
Loans
Retention payable
11
Creditors: amounts falling due after more than one year
Loans		 Fixtures,
fittings and
equipment
£
67,405
109,672
177,077
2,247
15,309
17,556
159,521
65,158
2022
£
1,106
1,030
347
17,611
20,094
2022
£
168,029
348
168,376
2022
£
11,572
2,513
11,229
14,531
3,333
6,038
49,215
2022
£
-
-		 Total
2022
£
67,405
109,672
177,077
2,247
15,309
17,556
159,521
65,158
2021
£
1,935
2,489
1,848
3,771
10,043
2021
£
144,541
360
144,901
2021
£
38,109
3,698
5,787
2,208
3,333
6,038
59,173
2021
£
3,333
3,333

Page 13

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

12 Deferred income

Deferred income comprises the following:

Deferred income comprises the following:
Within one year
After one year
Amount released to income
Balance at the beginning of the reporting period
Amount deferred in year
Balance at the end of the reporting period
The income deferred at the period end will be released to income over the following periods:		 2022
£
2,208
(2,208)
14,531
14,531
14,531
-
14,531		 2021
£
25,907
(25,907)
2,208
2,208
2,208
-
2,208

The balance at the beginning of the reporting period includes lettings income received in advance £2,208 (2021: £500). The balance at the beginning of the reporting period includes early years funding received in advance £Nil (2021: £25,407). The balance at the end of the reporting period includes income from lettings received in advance £2,566 (2021: £2,208). The balance at the end of the reporting period includes income from event tickets received in advance £11,965 (2021:Nil).

13 Loans and finance leases

The liabilities for loans, finance leases and concessionary loans referred to in notes 9 and 10 fall due for repayment as follows:

Repayable:
Within one year
Between one and five years		 2022
2021
£
£
3,333
3,333
-
3,333
3,333
6,667
Concessionary loans		 2022
2021
£
£
3,333
3,333
-
3,333
3,333
6,667
Concessionary loans
6,667

The concessionary loan is interest free and unsecured; it is being repaid in annual instalments and must be repaid in full by July 2023.

14 Pension commitments

During the year employer’s pension contributions totalling £2,470 (2021: £4,889) were payable to defined contribution personal pension schemes. Pension contributions were owing at the balance sheet date £484 (2021: £679).

Page 14

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

15 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
Redevelopment fund
Fixed asset fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Façade Restoration
Church Restoration
Sound and Visual
Aggregate of funds		 Opening
balance
2022
£
10,300
65,158
75,458
48,818
124,276
6,357
-
26,963
33,320
157,596		 Incoming
resources
2022
£
-
-
-
322,277
322,277
-
25,000
82,015
107,015
429,292		 Outgoing
resources
2022
£
-
(15,309)
(15,309)
(272,803)
(288,112)
-
-
-
-
(288,112)		 Transfers
in the year
2022
£
-
109,673
109,673
(695)
108,978
-
-
(108,978)
(108,978)
-		 Closing
balance
2022
£
10,300
159,522
169,822
97,597
267,419
6,357
25,000
(0)
31,357
298,776

The transfers referred to above were made for the following reasons:

a) to increase the amount ring fenced for this purpose.

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

assets and liabilities of the various funds were as follows:
Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
-
159,522
20,094
-
117,348
10,300
(39,844)
-
97,597
169,822
Unrestricted Funds		 Restricted
funds
£
-
-
40,728
(9,371)
31,357		 2022
£
159,521
20,094
168,376
(49,215)
298,776

Page 15

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

In the previous year the movements in the charity's funds were as follows:

Designated Funds
Redevelopment fund
Fixed asset fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
St Peter's Nursery
Façade Restoration
Sound and Visual
Aggregate of funds		 Opening
balance
2021
£
10,300
10,300
18,520
28,821
23,290
9,617
-
32,907
61,727		 Incoming
resources
2021
£
-
-
-
247,823
247,823
116,996
578
94,368
211,941
459,764		 Outgoing
resources
2021
£
-
(2,247)
(2,247)
(217,525)
(219,772)
(140,286)
(3,837)
(144,123)
(363,896)		 Transfers
in the year
2021
£
-
67,405
67,405
-
67,405
-
-
(67,405)
(67,405)
-		 Closing
balance
2021
£
10,300
65,158
75,458
48,818
124,276
-
6,357
26,963
33,320
157,596

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after one year		 General
Designated
funds
funds
£
£
-
65,158
10,043
-
53,105
10,300
(14,331)
-
0
-
48,818
75,458
Unrestricted Funds		 Restricted
funds
£
-
81,495
(44,842)
(3,333)
33,320		 2021
£
65,158
10,043
144,901
(59,173)
(3,333)
General
funds
£
-
10,043
53,105
(14,331)
0
48,818
157,596

Designated funds

Redevelopment Fund : this was created from legacies which have been set aside for future capital works on the church in the coming years.

Fixed Asset Fund : this was created for equipment purchases to be depreciated in the coming years.

Page 16

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Restricted funds

St Peter's Nursery Fund : this was created from government funding and parent contributions in relation to the operation of the St Peter's Nursery school.

Façade Restoration Fund : this was created from donations received to restore the church façade. From time to time transfers are made from unrestricted funds to this restricted fund so as to increase the amount ring fenced for this purpose.

Church Resoration Fund : this was created from legacies received for future capital works on the church in the coming years. Sound and Visual Fund : this was created from donations received to upgrade the lighting and sound equipment within the church.

16 Operating lease commitments

The charity has an operating lease for a photocopier. The minimum amount payable in respect of this lease is as follows:

Within one year
Between one and five years
Payments falling due:		 2022
£
686
-
686		 2021
£
686
686
1,373

During the year the charity was charged £686 (2021: £1,133) for its operating lease.

17 Transactions with related parties

During the year the charity:

No expenses (2021: £nil) were paid to, or for, non-clergy members of the PCC.

During the year the charity, the following transactions took place between the charity and St Peter's Hall (1991) Charity. P Allerton, A Binaisa, and W Josten, who are members of the PCC are trustees of St Peter's Hall (1991) Charity.

At the balance sheet date the charity was owed £166 (2021: £nil) by St Peter's Hall (1991) Charity. At the balance sheet date St Peter's Hall (1991) Charity was owed £nil (2021: £168) by the charity.

During the year the charity, the following transactions took place between the charity and the Custodian Trustee.

Page 17

The Ecclesiastical Parish of St Peter, Notting Hill

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

18 Reconciliation with previously reported funds

During the year the charity identified a material error in the results reported previously. Items purchased for the charity's use were not capitalised according to the accounting policy for tangible fixed assets. The comparatives presented in these accounts have been re-stated so that they reflect a correction of the error and a reconciliation with the reserves and results reported previously follows:

Reconciliation of reserves

Reconciliation of reserves
Previously reported reserves, at 31 December
Adjustments arising from correction of an error in the previous period:
Tangible assets
Re-stated reserves, at 31 December
Previously reported results
Adjustments arising from the correction of an error in the previous period:
Charitable expenditure - property expenses
Charitable expenditure - depreciation of tangible fixed assets
Re-stated results
Reconciliation of results		 2021
£
92,437
65,158
157,596
2021
£
30,710
67,405
(2,247)
95,869		 2020
£
61,727
-
61,727

Page 18

The Ecclesiastical Parish of St Peter, Notting Hill

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2022

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
Total income and endowments
EXPENDITURE ON:
Charitable activities:
5
Other
Total Expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
15		 General
Designated
2022
2022
£
£
232,783
-
89,494
-
-
-
322,277
-
272,803
15,309
-
272,803
15,309
-
49,474
(15,309)
(695)
109,673
48,779
94,364
48,779
94,364
48,818
75,458
97,598
169,822
Unrestricted funds		 Restricted
2022
£
107,015
-
-
107,015
-
-
107,015
(108,978)
(1,963)
(1,963)
33,320
31,357		 Total
2022
£
339,798
89,494
-
429,292
288,112
-
288,112
-
141,180
-
141,180
141,180
157,596
298,776		 General
Designated
2021
2021
£
£
207,212
-
40,602
-
10
-
247,823
-
217,524
2,247
-
-
217,524
2,247
-
30,298
(2,247)
-
67,405
30,298
65,158
30,298
65,158
18,520
10,300
48,818
75,458
Unrestricted funds		 Restricted
2021
£
96,334
115,607
-
211,941
144,123
-
144,123
67,818
(67,405)
413
413
32,907
33,320		 Total
2021
£
303,546
156,209
10
459,764
363,895
-
363,895
-
95,869
-
95,869
95,869
61,727
157,596

Page 19