The Parochlal Church Councll of the Eccle51astlcal Par15h of St James West Streatham Southwark Charlty No. 1133859 Annual Report and Accounts Year Ended 31st December 2024
Incumbent: Re¥d. Rob. Powell Bank: Barclays Bank PIC Wimbledon Business Cent 8 Alexandra Road Wimbledon London SW19 7JZ CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malllng Kent ME19 4JQ Independert ExamlTrer: Leroy Reid & Co Chartered and Certrfied Accountants 299 Northborough Road Norbury London SW16 4TR Lootlon: The Church is kKated at the corner of Mltcham Lane and Welham Road Streatham London SW 16 6
Our Mlsslon At St. James. All of Life for Christ Empowering ordinary people to live extraordinary live5 by Enabling people to come to know Jesus as Saviour and Equipping people to live forjesus as Lord
Contents: Page: Trustees Report (Parochial Church Council) Trustees responsibilities Independent Examiners Report Accounts Statement of Financial Activities Balance Sheet Notes to the Accounts Accounting Policies Analysis of Income and Expenditure 9-10 Statement of Funds li Notes on Fixed Assets and Other Notes 12
Trustees Annual Report {ParochFal Church Council for the year ended 31st December 2024 The Trustees present their annual report and accounts for the year ended 31st December 2024. The Parochial Church Council of the Ecclesiastical Parish of Stjames West Streatham Southwark 15 registered Charity No. 1133859 Objectives: St. James. PCC has the responsibility of co-operating with the incumbent, in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social, and ecumenical. It also has the maintenance responsibilities for the Church Hall complex located in Welham Road and the Curate's house at 171 Mitcham Lane, Streatham. Parochial Church Council Members: Trustees (Members of the PCC) are elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules including co-opted and ex-officio members. Ex Officio: Revd. Rob Powell Kirk Douglas John Talbot Nick Burt Glynis Wi5kinson Mary Scarlett Yvonne Mason Alan Burrows Team Rector Churchwarden Churchwarden Diocesan Synod 2021-2024 Deanery Synod 2023-2026 Deanery Synod 2023-2026 Deanery Synod 2023- 2026 Deanery Synod 2023-2026 Chairman, Electoral Roll Officer Treasurer Elected Members: Adam Seymour-Davies Rocky Deans Sandra Lucas Sarah Veal Elizabeth Gibbons Ailie Neill Heather Howard David Kafuko Kevin Everden May 2022 - May 2025 May 2022- May 2025 May 2022- May 2025 May 2023- May 2026 May 2023 - May 2026 May 2023- May 2026 May 2024- May 2027 May 2024- May 2027 May 2024- May 2027 Lay Chair Secretary Co-opted Members Revd. Mark Pybus John Farebrother Assistant Minister SPA PCC Meetings: The PCC held 6 meetings during the year. The average attendance was 65.96% (previously 59.52%>.
Committees: The PCC operates through several task groups, which have met between full meetings of the PCC, to whom they are responsible and to whom they report. Trustee (PCC Members) Report for the year ending 31st December 2024 (continued) Church Attendance: The Church Electoral Roll records 169 (previously 1671 persons as members of the Church, 113 of whom are not resident within the parish. The avera8e Sunday attendance counted during October was 97 Review of the year. The various activity groups will highlight their activities during the year by giving reports at the APCM. The activities of the parish insofar as they impinge upon the Statement of Financial Attivities have been as follow5: l. The parish's contribution to the central fund of the Diocese of Southwark (the Parish Support Fund) remain5 the principal item of expenditure at £86.3CK) for 2024 (£83,5(K1- 2023) and has been paid in full. 2. Voluntary contributions from members of the congregation remain the principal source of income. Income from donations for unrestricted purposes including claimed Gift Aid amounted to £138,3781£143,557 - 2023}. An Advent Thanksgiving gift day was held with a commitment that the first £3,000 of donations would be divided between two projects - Musalaha+ in Jerusalem, and Furzedown Youth Centre. Total donations received were £26,829 including associated Gift Aid1£17,821- 2023). The PCC continues to encourage the congregation to give to the Church in a regular and committed way using one of the stewardship schemes. Tax efficient regular giving to the General Fund amounted to £74,617 (£76,998 - 2023) and with other Gift Aided donations, £20,1911£21,214- 20231 was claimed in Gift Aid for unrestricted purposes. Other donations of £1531£1,570- 20231 included restricted donations forvarious areas of the Church's ministry. The PCC'S commitment to supporting all aspects of mission resulted in £37,2341£40,405-20231 being granted to several causes including sUPPOrt forthe Furzedown Youth Centre by the donation of the £23,634 for rent and utility bills. A tithe on income from giving of £10,6001£11,959- 2023} was split equally between two Mission partners receiving a share with -Furzedown Youth Centfe" receiving 113, and "Crosslinks" receiving 2/3 in support of Alun and Debbie Burf5 ministry in South Africa. Total income amounted to £231,6821£231,292 - 2023) of which £3,153 was restricted1£3,341 20231. Total expenditure amounted to £219,218 {£263,722 - 2023} of which £3,342 was expenditure on restricted items {£23,432- 20231. The generosity of the people of St. James continues to be a source of both encouragement and humility. It is encouraging that we have been able to welcome new faces into the congregation. It is hoped that newcomers will soon become full and active members of our Electoral Roll. 3. The churches of the Furzedown Team Ministry {St. Jame5, St Alban's and St. Pauls) continue to work closely together and with Mitcham Lane Baptist Church, sharing a vision of mission in the community, especially in the area of ministry to young people both through Sundaygroups and through the work of the Furzedown Youth Centre.
- The Church continues its commitment to children and young peoples, ministry. A full-time Youth Outreach worker is jointly employed with our partner churches. Little Fishes continues to be, for many, a first introduction to church life and is currently oversubscribed. Get Set and Adventurers continue to engage with children of Primary school age during the week.
- The Church continues its commitment to the Furzedown Youth Centre and, in partnership, work to improve the facilities of both the upper and lower halls continues to be the goal of the Community Centre Management Committee. The Church views FYC as a major resource for the young people in the surrounding community.
- During the year the Church continued to consider the use of its buildings and possible developments that might be undertaken to further the mission of the Church in the future. A small working group under the Building for the Kingdom Project has been working on developing proposals and has fed back to the PCC and church members for further input during the year. Financial Review The parish's financial position has seen a net income of £9,124 which is a gain on 2023,5 net of income of -£32,431. This was largely due to the following: l. A rise in lettings
- lower energy charges
- lower staff costs. The PCC continues to work with the Finance Working Group which was formed with the purpose of investigating ways to generate income and reduce expenditure and continuing its di5CU55ions with the Diocese for advice. Reserves Pollcy The PCC is committed to increasing this reserve by a transfer of £3,000 from the General Fund each year when surplus funds are available. The balance on the General Resenies at the end of the year was £43,567, an increase of £6,980 from the start of the year. This is lower than the agreed policy of holding resen4es equal to three months, unrestricted expenditure - circa £54,807 at December 2024. Meanwhile designated funds of £7,931 are also available and could be undesignated by the PCC if required. Public Benefit Statement The PCC has considered the Charity Commission's guidance on public benefit. They try to enable all people to live out their faith as part of our parish community through worship and prayer. learning about the Gospel; developing their knowledge and trust in Jesus; provision for pastoral care for people living in the parish; senling those in need; and missionary and outreach work. Reporting Accountants Messrs Leroy Reid & Co. Have indicated their willingness to serve as the examiners and a resolution re-appointing them will be proposed at the annual general meeting. Signed: Revd. Rob Powell Chair Secretary Date: 20 i 0312 5
Statement of PCC Members. Responsibilities. The law requires PCC members to prepare financial statements for each financial year which give a true and fair view of the Parochial Church Council of St James, West Streatham financial activities during the year and of its financial position at the end of the year. In preparing financial statements we are required to: l. Select suitable accounting policies and apply them consistently. 2. Make judgements and estimates that are reasonable and prudent. 3. State whether applicable accounting standards and statements of recommended practices have been followed, subject to any departures disclosed and explained in the financial statements. 4. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Parochial Church Council of St. James, will continue in operation. The members are responsible for keeping accounting records, for safeguarding the assets of the organisation and for taking reasonable steps for the prevention and detection of fraud and other irregularities should they exist. By order of the Board Revd. Rob Powell Chaimian
Independent Examiner's Report To the PCC of St. James, West Streatham We report on the accounts of the PCC for the year ended 31st December 2024, which are set out on pages 6 to 12. RespectSve responslbllltles of trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts. You also consider that the audit requirement of section 144(21 of the Charities Act 2011 {the 2011 Act) does not apply and that an independent examination is needed. Having satisfied ourselves that the charity is not subject to an audit and is eligible for independent examination, it is our responsibility to: examine the accounts under section 145 of the 2011 Act to follow the procedures laid down in the general Directions given by the Charity Commission under section 14515)(bl of the 2011 Art; and to state whether particular matters have come to our attention. Basls of Independent Examlner's report Our examination was carried out in accordance with the General Directions given by the Charlty Commissioners. An examination includes a review of the records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matter5. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent Examlner's ststement In connection with our examination, no matter has come to our attention: (11 which gives us reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the 2011 Act: and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act and those contained in the Church Accounting Regulations 1997 have not been met. {2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. lp( Leroy Reid & Co. Chartered Certified Accountants & Registered Auditors 299 Northborough Road, Norbury, London, SW16 4TR. Date:
St. James West Streatham Statement of Financial Artivities For the year ended 31 December 2024 Note Unrestrlcted Restrlcted Endowment Total 2023 Income and endowments from: Donations and legacies Charitable adivities Other trading activities Investments Other Total 138,378 56,816 2,406 30,751 178 228,529 3,153 141.531 56,816 2.406 30,751 178 231,682 146.898 S3,277 2,206 28,609 302 231,292 3.153 Expendlture on charltable a¢tlvltles: Church activities Salaries and support costs Management and admininstration Mission giving and charitable donations Total 140,S34 40,720 3,731 34,234 219,218 342 140,876 40,720 3.731 37,234 222.560 171,935 47,968 3,415 40,405 263,723 io 3,000 3.342 Net Incomellexpendlture) 9,311 11891 9,124 (32,431) Transfers between funds Net movement In funds 9,313 11891 9,124 132,431) Recon¢lllatlon of funds: Total funds brought forward Total funds carrled forward 42,187 51,498 9,183 8,995 100.613 100,613 151,984 161,106 151.984 151,984
St. James West Streatham Balance Sheet As at 31 Dernber 2024 Note 2024 2023 Flxed assets Curates House 171 Mitcham Lane 15 100,613 100,613 100,613 100,613 Current assets Cash at bank and in hand Investments Sundry debtors Prepayments 60,049 47,557 10,861 2,468 73.378 15.265 3,154 65,976 Llabllitles Accrual Independent Examination Creditor HMRC PAYE & NI Other sundry creditors and accruals Diocese Loan {5 years) 1,200 137 5,415 6,133 12,885 1.2CXJ 1.238 4,434 7,733 14,605 Net current a55ets 60.493 51.371 Net assets 161,106 151,984 Represented by: Unrestricted funds Designated funds Restricted funds Endowment funds li 12 13 14 43.567 7.931 8,995 ILM),613 161,106 36,587 5.601 9,183 100,613 151.984 Signed: Revd. Robert Powell: Chalrman Alan Burrows: Treasurer
St. James West Streatham Notes to the Finanaal Statements Year ended 31st December 2024 l. Accountlng Pollcles al Basls of preparation of accounts The financial statements have been prepared under Church Accounting Regulations 2006 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Charity is a public benefit entity for the purposes of FRS 102 and therefore the Charity has also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP) and the Charities Act 2011. The tru5tee5 have assessed whether the use ofthe 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 goin8 concern. The trustees have made this assessment for a period of at least one year from the date ofapproval of the financial statements. In particular the trustees have considered the charivs forecasts and projections and have taken account of pressures on donations and rental income. After makin8 enquiries the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity group therefore continues to adopt the going concern basls in preparing Its financial statements. bl Fund Accountln8 Unrestrictedfund5 are available for use at the discretion of the PCC in furtherance of the 8eneral objectives of the church. Restrictedfund5 are subjected to restrirtions on their expenditure imposed by the donor or throu8h the terms of an appeal. c) Income All income is included in the statement of financial activities when there is entitlement to the income. the receipt is probably. and the amount can be measured reliably. Legacies are recognised following probate and once there is sufficient evidence that receipt is probable, and the amount of the legacy receivable can be measured reliability. Where entitlement to a legacy exit but there is uncertainty as to its receipt or the amount receivable, details are disclosed as a contingent asset until the criteria for income reco8nition are met. d) Expendlture Liabilities are recognised once there is a legal or constructive obli8ation to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and ha5 been classified under headin8S that aggregate all costs related to the category. Charitable octivitie5 comprise those costs incurred by the church in the delivery of its activities and senrfices for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. e) Crltlcal accountln8 estlmates and areas of Judgement In the view of the trustees in applying the accountin8 policies adopted, no judgements were required that have a significant effect on the amounts reco8nised in the financial statements nor do any estimates or assumptions made carry a Si8nificant risk of material adjustment in the next financial year.
St. Jarnes Church, West Streatham Notes to the Finanaal Statements Year ended 31 December 2024 Analysis of Income and expenditure Note Un- restrlcted Restrlcted Total 2024 Restrlcted Total 2023 restrfcted Income and endowments from: Donatlons and legacles Regular tax efficient giving Other regular 8ivin8 Offertory plate collections Gift Day donations Other grants and donations Legacies Gift Aid 74,617 74.617 8.800 10.941 26.829 153 76,998 16.114 13.181 14,821 1,229 76,998 16,114 13,181 17.821 1,570 10,941 23,829 153 341 20.191 138,378 20,191 141.531 21,214 143,557 21,214 146,898 3.153 3,341 Charltable actlvltles Weddin8 and funeral fees Children's Ministry receipts Letting FYC Letting Other Sundry activities recelpts 343 2.586 23,634 26.197 4.057 56,816 343 2.586 23,634 26.197 4,057 56,816 988 2,805 24.322 23,400 1,762 53.277 988 2,805 24,322 23,400 1,762 53,277 Other tradlng actlvltles Fundraising events income Trading Income Well coffee sales 133 2.273 2.406 133 2.273 2.406 205 2,001 2,206 205 2.001 2,206 Investments Bank and investment interest Rental income.. 171 Mitcham Lane 678 30,073 30.751 678 30.073 30,751 7W 27,909 28,609 700 27,909 28,609 Other Sundry income Cost reimbursements 178 178 302 302 178 178 302 302 Total 228,529 3,153 231,682 227,951 3,341 231,292
St. Jarnes Church. West Streatham Notes to the Financial Statements Year ended 31 December 2024 Analysis of income and expenditure Note Un- restrirted Restrlcted Total 2024 Un- restricted Restrfcted Total 2023 Expendlture on charltsble actlvlties: Church actlvltles Parish Support Fund contribution Activities and Catering Ministry support Upkeep of services Church and Hall utilities Church and Hall insurance Church maintenance, repairs, equipment Church Projett & Electrical Works Hall maintenance and repair5 171 Mitcham Lane maintenance & refurbishment Children's and Youth Ministry Costs of sales (Bible notes etcl Music, audio, video Fees paid to Diocese Farewell gifts 86,3CK) 2,807 392 10,1 18,359 9.317 5.045 86.300 2,807 392 10.100 18.359 9,317 5,045 83.5rJ) 2,973 535 6.859 25.857 8,534 13,437 1.626 1.276 3,522 83.500 3,708 535 6,885 25,857 8,534 13.437 20,999 1.276 3,522 735 25 19,373 2.033 3.564 342 2.375 3.564 1.535 195 31 158 698 140,534 1.535 195 31 158 698 140.876 2.228 2,228 148 117 805 384 171.935 iii 805 384 151,691 342 20.244 Salarles and sUPPOrt tosts Staff salaries and support costs Employers National Insurance 40,720 40,720 47,968 47.968 40.720 40.720 47.968 47,968 Management and administratlon Office consumables & admin. costs Telephone and broadband Staff advertising Bank & Card charge5 Independent Examination costs 1,330 1,330 1,019 425 1.019 425 716 1.200 3,730 716 1,200 3,730 771 1.200 3,415 771 1,200 3.415 Mission & other charitable givin8 Mission agencies FYC support Tithe on regular giving Other charitable giving io 3,000 24,510 11,959 936 40,405 23,634 10,600 23,634 10,6iJ) 24,322 11.959 936 37.217 188 34,234 37,234 3,188 Total 219,218 3,342 222.560 240,291 23,432 263,723 io
St. James Church, West Streatham Notes to the Flnanclal Statements Year ended 31 December 2024 Statement of Funds Fund Note Balance 01.01.24 Income Expendlture Transfers Balance 31.12.24 Unrestrlcted - General Fund li 36,587 174,761 204,170 36,389 43,567 Deslgnated Fund Building Children's Ministry Pastoral Care 5ibley Audio & Video Friendship Circle Hall Trading BB- Company Fund Team Kin8sley Family Events - Special Events Advent gift day 956 956 2,586 1,617 19691 623 623 3,850 1,484 23,532 628 11,941 4,705 111,5911 165 165 2,337 23,829 862 IA75 123,8291 Desl8nated funds total 12 5,601 53,768 15.048 136,3891 7,931 Unrestrlcted & Deslgnated Funds total 42,188 228.529 219.218 51,501 Restrlcted Funds Cr0551inks A Burt Hall Redevelopment Church Redevelopment Electrical Works Benevolent Fund Gift Day Tithe Prayer Facillties Development Legacy Youth Centre Youth Evangelism Church Day120191 Ashburnham Support Sound Syrian Family 1,563 342 1,221 3,000 3.000 3,577 3,577 153 153 Restrlcted funds total 13 9,183 3.153 3,342 8.995 Endowment Fund 171 Mitcham Lane 14 100.613 100,613 Total funds of the Church 151,984 231,682 222,560 161,106 li
St. James Church, West Streatham Notes to the Flnanclal Statements Year ended 31 December 2024 15. Flxed Assets Curates House 171 Freehold land and buildings comprlse the curate's house located at 171 Mitcham Lane. The property is held in trust for the PCC by a Southwark Diocesan trust. The gr055 book value I£100,6131 is based on the value estimated by the PCC as at 1st January 1992 for insurance purposes (the current value for Insurance purposes Is £237,369). No depreclatlon is provided. All other assets are written off In the year of purchase. 16. Trustees beneflts and transactlons No payments or benefit has been made to any member of the PCC or persons closely connected with such members. by St Jame5 or any closely related organisation except reimbursement of expenses incurred by the Rector and other members of the PCC. 17. Employees The PCC employed three part time members of staff during the year. Wages paid during the year were £40,720 12023 £47,968). The pay for all part time staff is determined by reference to the London Living Wage. 18. Contlngent Ilabilltles and capltal commltments There were no contlngent Ilabilities or capltal commitments at 31 December 2024. 12