THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArfHIAS, TULSE HILL Diocese of Southwark Our aim is to be channels of God's transforming love Annual Report & Accounts Year Ended 31 December 2023 Charity Registration Number= 1133884 Website- www.htth.or .uk our name O Lord endures for ever, Your renown O Lord, through all generations. For the Lord will vindicate his people and have compassion on his senjants." Contents Page Legal and administralive information Report of the Parochial Church Council Independent Examinerf5 report to the Parochial Church Council Statement of financial artivities Balance sheet io Notes to the financial statements li
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Legal and administratlve information For the year ended 31 December 2023 Charity Name The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity & St Matthias, Tulse Hill Ithe 'PCC"I 1133884 (registered with the Charity Commission, entered into the Register of Charities on 28 January 20101 Printipal Address Holy Trinity Church, 51 Trinity Rise. London, SW2 2QP Governlng Document Parochial Church Council Powers Measure119561 as amended and Church Representation Rules Promoting in the ecclesiastical parish the whole mission of the Church Charlty Number Purpose as per Governlng Document Member5 of the PCC Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting I'APCM") in accordance with the Church Representation Rules. The members of the PCC are the Trustees of the charity. At the APCM held on the 2Y April 2008, a resolution was passed in accordance with the provisions of the Churchwardens Measure 2001, to waive the six consecutive year limitation period for service as churchwarden with regard to the Parish of Holy Trinity & St Matthias. Members of the PCC who served during the year or who were serving at the date of this report were= ClerEY lex officiol Revd Richard Dormandy (Chair, Vicar) Revd William Sharpe INon-Stipendiaryi Diocesan Reader lex officio) Gloria Otu-simon Churchwardens lex officiol Nicole Lyon (from 21 May 20231 Fay Morris Ava Serunjogi (to 21 May 20231 Jamie Lobban Adam West Ito 21 May 20231 Yetunde Akintunde Zebida Gardner-5h3rer (from 21 May 20231 Amy Grant (from 21 May 20231 Alicia Humphreys Ifrom 21 May 20231 David Jowsey Malcolm Kemp Nicole Lyon (to 21 May 20231 Alice Odusina Rebecta Robertson Georgie Snyder Garry Sutcliffe (to 21 May 20231 Jacky Sutcliffe Ifrom 21 May 20231 Adam West Ifrom 21 May 20231 Lay representatlves to the Deanery Synod lex officio) Elected lay representatives Key Management Personnel Those in charge of direrting, controlling, running and operating the charity on a day-to-day basis are the members of the PCC Barclays Bank UK Plc, I Churchill Place, London F14 5HP Bankers
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Report of the Parochial Church Council Forthe year ended 31 December 2023 The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity & St Matthias, Tu15e Hill Ithe 'PCC"I submits its report and the financial statements of the PCC for the year ended 31 December 2023. The financièl statements have been prepared on an accruals basis in the format prescribed by the Statement of Recommended Practice.. Accounting and Reporting by Charities (Charities SORP, second edition 20191, and the Financial Reporting Standard 102. The legal and administrative inFormation set out on page 2 forms part of this report. The PCC co-operate5 Wlth the incumbent in promoting the whole mission of the Church within its Parish and beyond. It also has responsibility for paid staff lif any) and the maintenance of the church building and any other property the PCC owns. l. Structure, Governance and Management Trustees The PCC is currently chaired by the Vicar,. its vice-chair is one of the churchwardens. From time to time it may establish working groups or sub-committees which meet in addition to full meetings of the PCC. The PCC discusses a full range of matters relating to finance, fabric, safeguardin& general administration and responsibility for keeping of the Electoral Roll. Members of the PCC are either ex officio or elected by the Annual Parochial Church MeetSng IAPCMI in accordance wilh the Church Representation Rules. These provide a facility for 12 elected members from the APCM, nine in respect of the first 100 names on the electoral roll, and a further three in respect of the next hundred lor part thereofj. The maximum number F=rmitted is 15 where the electoral roll exceeds 200 names. The full PCC met 8 times during the year with an average attendance of 64%. All meetings were hybrid meetings held both in person and via Zoom. The induction process for newly-appointed members of the PCC is currently under review. The Stsnding Committee UrEent matters can be trat)sacted between PCC meetings by the PCC Standing Committee. This Committee has the power to transact any business of the PCC between its meetin8s, subject to any directives given by the PCC, and during the year comprised the Vicar, the Churchwardens, the Treasurer and the Secretary. Church Attendance The Church electoral roll is completely reviewed and revised once every six years but is updated every year in between. At the last APCM the electoral roll stood at 12712022: 1201. It should be noted that the electoral roll is not a true indication of church attendance. Risk Management The PCC'S primary aim is the discipling of people for the glory of God. Whilst it is our policy to trust wholly in the Lord we also acknowledge our responsibility for identifying and managing the risks as we go about this. The PCC has therefore 355essed the major risks to which we are exposed, in particular some specific operational areas and our investment5 and finance5. The PCC believes that by monitoring reserve levels by ensuring that controls exist over key financial systems by establishing a health and safety policy
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLYTRINITY & ST MArrHIAS, TULSE HILL Report of the Parochial Church Councll For the year ended 31 December 2023 by implementirTrg a safeguarding policy by examining and monitoring other operational risks we have established effective systems and procedures to mitigate these risks. Safeguarding The PCC has adopted the Diocese of Southwark's "Safe Church" Policy. We have signposting in church and on our website for anyone with concerns. We review our policy and any safeguarding issues annually. 2. Actlvltles, Strategies and Public Beneflt It is a legal requirement for all charities to exist and act for 'public benefil" To this end the PCC does the following in order to enable ordinary people to live out their faith as part of the parish community: It provides facilitie5 for public worship, pastoral care and spiritual, moral and intellectual development, regardless of whether the beneficiaries are church members or people of Christian faith It promotes Christian values, setvice and discipleship through the Church, to the benefit of individuals and society as a whole. Some of these activities have dedicated funds within the PCC'S financial statements, e.g. the Tulse Hill Community Advice Centre and the Social Club, see Note 10 to the Financial Statements. 3. Revlew of the Year 2023 was a year of slow but steady growth as people continued to return after covid and new people joined across demographic and social range of our congregation. Naturally some have moved away and others have become housebound. Our Seniors Group, which wa5 an early adopter of Zoom technology during the pandemic has suffered from the difficulties that some members hove in returning in person. While they retain an excellent and high level of pastoral care for one another, their physical presence in church has become severely curtailed. Our Social Club, by contrast, has been able to continue meet in person at St Luke's Church West Norwood, and look forward to returning to Holy Trinity after Easter 2024. We have continued to livestream all our services, as well as some weddings and funerals. Our average viewing Sunday by Sunday 15 between 30 and 50. We charge £150 for livestreaming of a wedding or funeral, which includes a USB stick recording. Although our streaming service does not extend to the graveside or reception etc., we feel this offers outstanding value for money. In June we managed to fill all places on our Church Weekend Away, though the overall numbers were about 18Yo down on four years, previous. The theme of the weekend of Mission Action and there was a very up-beat sense to the occasion. Following the weekend away we have formally'adopted" the Kinderman family as link mission workers. The Kindermans work with YWAM, Children Worldwide and other agencies to reach out to youth and children in England. Arguably our biggest achievement of the year was the appointment of a part-time paid Centre Manager for our Community Money Advice Centre. This was a significant achievement in that it involved proper and safe recruitment and appointment processes, payroll setup, guarantees of ability to 5UStain the job, and so on. Congratulations to everyone involved in making this happen. In the back end of the year, we held our first Harvest Lunch since Covid, which was a positive step and enjoyed by all. Our Christmas Carol, Nativity, Christingle and Watchnight Services were all well-attended. The
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Report of the Parochial Church Council For the year ended 31 December 2023 Christmas Eve Midnight had very low numbers and since this has been part of a fairly lon8-term downward trend, it seems likely that this is going to be a dying tradition. In 2024 we will actively position it as an intimate service of devotion. During 2023 we made huge Steps forward on our straw-bale building project, the Hand Built Hall, and by October we reali5ed that we could commit to completion by 31st March 2024. This has put considerable extra pressure on the volunteer builders and project leaders, but it will certainly be achieved. Meanwhile we continue to thank God for her unflagging joy and extraordinary provisiori. Our Main Fund lunrestrictedl ended the year at £85,44012022'. £65.5031,' our Building Fund ended the year at £12,796 12022- £7,121),. our Phase IV Fund ended the year at £158,440 12022: £251,128); our Tulse Hill Community Advice Centre Fund ended the year at £13,26712022.' £4,492); and our remaining Funds ended the year at £45,49812022'. E46,814I. See Note 10 for further details. 4. Going Concern Each year it is the PCC'S responsibility to state whether or not the annual accounts have been drawn up on a "going concern" basi5. This means that we have the resources to continue operating for at least 12 months from the date when the Accounts are approved by the PCC. See Note I for our "going concern" statement. 5. Financial Review The PCC'S main sources of funding are donations from church members and others in attendonce at church services and gift aid reclaims on these donations. Overall Financial Activity and Financial Position The Statement of Financial Activities and Balance Sheet can be found on pages 9 and 10 respectively. The Church's overall funds reduced by £59,617 during the year12022.' reduced by £41,770). The balance sheet shows total net assets at the end of the year of £315,441 lend 2022.. £375,058). Included in total funds are amounts totalling £219,676 which are restricted lor represent endowments) lend 2022.. £301,4691. These balances have either been raised for specific purposes or they comprise donations Subject to donor imposed conditions. At end 2023 land end 20221 the majority of the restricted funds related to the Phase IV Istraw Bale Building) Appeal Fund. Fijrther details of these funds can be found in Note 10 to the Financial Statements together with an analysis of movements over the year. In line with current Diocesan advice, no value has been placed in these accounts on the Straw Bale Community Hall currently under construrtion. The cumulative cost of building the Hall to end 2023 was £939,48312022= £748,142). Had a value been included, total net assets would have been higherat end 2023 by £939,48312022'. E748,1421 as there are no indicators of impairment. Reserves Po15cy Free reserves are defined by the PCC as unrestricted funds not invested in tangible fixed assets. The PCC considers that, given the nature of our work, free reserves should be equivalent to between 25% and 80% of annual unrestricted expenditure. The PCC believes this provides sufficient flexibility to cover temporary shortfalls in income and will allow the church to manage unforeseen emergencies whilst implementing specific action plans. This takes into account
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Report of the Parochial Church Council For the year ended 31 December 2023 the existence of our restricted building fund to support major repairs and renovation work to the church building. At 31 December 2023 the thurch had net free reserves and funds in its Building Fund as set out below= At31 Dt¢ember 2023 Atai December 2022 Buildlng Fund Free reserves Fe SerVeS as %age of annua l unrestricted expe ndItU (excl. Straw 8a le costsl 12,796 95,765 81% 7,121 73,589 Investment Policy In 2019 a company, HrrH Building Development Co Ltd was established to a551St in the management of the project to build the new Straw Bale Community Hall. The PCC is the sole shareholder of this company. The PCC'5 shareholding in this company is included as an Investment in these accounts. The PCC holds some collective investment vehicles or other investments in some of its funds and in two trusts that it constructively controls, see Note 7 to the Financial Statements. The remainder of our non-tangible a55ets are held in bank accounts. Grants Pollcy The PCC makes grants from its unrestricted funds to support charitable and missionary endeavours both in the UK and abroad. Currently it aim5 to make grants from this source equivalent annually to approximately IO% of its incoming unrestricted resources less payments to the Diocesan Parish Support Fund. Sndividuals and organisations reEularly supported land their locations1 include Children Worldwide IUKI, Eagles Malawi Imalawil, Pa2 Y Esperanza (South Ameri£al, Prison Fellowship IUKI and Welcare IUKI. The policy of the PCC is to give Erants on the basis that they are subject to annual review, although where practical we seek to give reasonable advance warning of likely tem)ination so that retipients Can plan accordingly. In some cases where a charity is based overseas, the grant is paid to an associated UK-based charity for remittance to the overseas charity. Further details are provided in Note 3b to the Financial Statements. One of the PCC'S restricted fund5 15 the Vicarfs Discretionary Fund. It IS Used at the discretion of the Vicar to assist those in need within the parish or church community. Where a donor ha5 given to the PCC with the specific intention for their gift to be passed on to a third party cause le.g. as part of a special collection for TEAR fund), those gifts, along with any relevant Gift Aid, are passed on to the intended recipient. If the donor has agreed that the PCC may retain the Gift Aid, this is retained by the PCC. Gift Aid that the PCC reclaims via the Gift Aid Small Donation Scheme on loose collections is also retained by the PCC'S Main Fund. Other ¢ommentS The PCC wishes to express Its thanks for the continued generous giving of all who have contributed financially and in other ways to the life and mission o* the church.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINifi & ST MArrHIAS, TULSE HILL Report of the Parochial Church Council Forthe year ended 31 December 2023 6. ResponslbllSties of Trustees for the Flnanclal Statements The PCC is responsible for preparing the report and financial statements in accordance with applicable law and UK Generally Accepted Accounting Practlce. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs and of our income and how it was used for that period. In preparing those financial statements, the PCC is required to.. select suitable accounting policies and apply them consistently: observe the methods and principles of the Charities SORP,. make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any departLtres disclosed nd explained in the financial statements,. and prepare the financial statements on the going concern basis unless It is inappropriate to presume that the activities of the charity will continue. The PCC is responsible for keeping adequate accounting records whlch disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charitie5 Act 2011, the Charity Accounts and Reports Regulations 2008 and the provisions of the governing document. The PCC is 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. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charitvs website. 7. Approval The report of the PCC was approved by the PCC on 29 April 2024 and signed on its behalf by.. Rev. Richard Dormandy, PCC Chair
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Report of the Independent Examiner to the Parochial Church Council of HolyTrinity & St Matthia5 Church, Tulse Hlll I report on the accounts of the Parochial Church Council of Holy Trlnity & 5t Matthia5 Church, Tulse Hill for the vear ended 31 December 2023, which are set out on pages 10 to 25. Respective responsibilities of PCC and examiner The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year lunder section 144121 of the Charities Act 2011 Ithe 2011 Actll and that an independent examination 15 needed. l am qualified to undertake the examination by being a qualified member of the Instltute of Chartered Accountants in England and Wales. It is my responsibility to.. examine the accounts lunder section 145 of the 2011 Act),. to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 14515llbl of the 2011 Act),. and to state whether particular matters have come to my attention. Ba51s ofindependent examiner5, report My examination was carried o*Jt in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting retords 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 the seeking of explanations from you as trustee5 concerning an¥ such matters. The procedures undertaken do not provide all the evidence that would be required iri an audit and, consequently, no opinion is given as to whether the accounts present a 'true and fair Vie and the report is limited to those matters set out in the statement below. Independent examlners, stotement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the church as required by section 130 of the Act,. or the accounts do not accord with those records- or 3. the accounts do not comply with the applicoble requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulation5 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 hove 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. Mike New5am, 32 Garlies Rd, Forest Hill SE23 2RT May 2024 3 JI /IL
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST mAHlAs, TULSE HILL Statement of Financial Activities Forthe year ended 31 December 2023 Unrestrided Urnle5ignated Unrestfttted Deslgnated Funds 2023 Restrirted Entkiwrnent Fund5 Fund5 2023 2023 Total 202a Total 2022 2023 Income from.. Don8tions and lesacies CharStable attltIeS Investments Other 107,CrfM 17,227 2,557 253 124,460 376 8,682 1.634 231.464 31.000 11.394 246,416 24,706 660 13,456 13,397 154 Totsl Income 127,041 13,397 135,153 154 275,745 285,237 EjIDd[tUre on.. Charitable activities Other 106,875 230 202,500 25.857 700 335,232 930 325.061 707 TfAal ExpeThIiTt 107,104 202,StX) 26,557 336.162 325,768 Net Balrts I Ilcssesl on In¥esimen 823 11,Z391 Nèt lrtorne I (Expgnditurel 19,937 1189,1031 109A19 130 159.6171 141,7701 Tran51efs between fund5 191341 1191,3411 N¢t movement In fur 19,937 2238 181.9221 130 IS9.6171 141,7701 Tota I funds brought forward 65,$03 8.087 298,550 2,919 375,058 416,828 Totsl fynds ¢arrled forward 85.440 10,3Z5 216.628 ap49 315.441 375,058
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLYTRINITY & ST MATThIAS, TULSE HILL Balance Sheet As at 31 December 2023 Urwtrlded Unre5trftted Undeslgnated Deslgnated Funds Funds 2023 2023 Restricted EThJowment Funds Fund5 2023 Note Total 2023 Total 2022 2023 Fixed assets Taneible assets Investments 2,683 149,541 152,224 1,482 4.165 L62,373 166,539 2,371 16,991 Current assets Debto C3sh 8tbankand in hand Total 13,950 37,023 169 375 206,398 SO,973 102 214 153,187 46,727 315 662 362,389 163,7691 10.558 Credltors {aMntS falllng due withln yearl.. Amounts atcrued vetto be paid I received Nei CLirrent a$sets Nei •ssets Represented bv.. Endowment fund5 Restricted funds Unrestrlcted designated funds Unrestricted undeslgnated fund Total 3,015 233 1,036 4.285 4,321 85 3,049 3.049 216.628 2,919 298,550 216,628 10,325 10,325 8,087 85,440 85,440 65,503 10.325 375 058 The financial statements were approved by the PCC on 29 April 2024 and signed on it5 behalf by= Rev. Richard Dormandy, PCC Chair Malcolm Kemp, PCC Member io
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Notes to the Financial Statements Forthe year ended 31 Decernber 2023 l. Accounting Policies The principal accountinE policies adopted, judgements and key sour5 of estimation uncertainty in the preparation of the financial statements are as follows.. Basis of accounting The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice: Accountln8 and Reportin8 by Charities Icharities SORP, second edition 2019, effective l January 20191 and Financial Reporting Standard 102 IFRS 1021. The financial statements are drawn up on the historical cost basis of accountin8 except for investments and freehold land and completed buildings which are shown at market value. As our Diocesan Team has advised us to assijme that our Straw Bale Annexe may be part of the church's consecrated ground, no value has been included for the Hall in these accounts. The financial statements include all transactions, assets and liabilities for which the PCC 15 responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members. The PCC owns 100% of the share capital of HThH Building Development Company Limited I"HThH"l. These accounts are presented on a solo ba515 for the PCC in isolation and do not consolidate HThH's own income and expenditure into the Pcc's income and expenditure. The PCC meets the definition of a public benefit entity under FRS 102. Going Concem There are no material uncertainties about the charity's ability to continue as a going concern and according the accounts have been drawn up on a going concern basis. Recording Income in the Accounts Voluntary income and donations (including legacie51 are accounted for once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received or when a gift aid declaration 15 received by the donor if later. Interest on funds held on deposit is included when receivable arbd the amount can be measured reliably by the charity,. this is normally upon notification of the interest paid or payable by the bank. Recordlng Expenses In the Accounts Expenditure is included in these accounts as soon as we have a reliable amount for it and are reasonably sure that the PCC has to pay it. Where payment of the expense is expected to only to happen at some material time in the future or where we think we are likely to be able to pay a smaller amount le.g. because a di5COUnt 15 likely to be applied) then the expenditure recognised is adjusted accordingly. The PCC is not itself registered for VAT and accordingly expenditure includes VAT where appropriate. Charitable expenditure includes those costs in fulfilling the PCC'S principal objertives, as outlined in the Report of the PCC. These include grants payable, governance costs ?nd an apportionment of support COSts. li
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLYTRINITY & ST MArrHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2023 Grants payable are payments made to third parties in furtherante of the PCC'S objects. In the case of an unconditional grant offer this is included in the accounts as soon as the recipient has been notified of the grant award or the PCC has decided to make the grant if earlier. The notification gives the recipient a reasonable expectation that they will receive the grant. Grant awards that are subject to the recipient fulfilling performance conditions are only included in the accounts when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is considered near certain to be met. Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees. Taxation As a charity, the PCC is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the PCC. Assets and Llabllltles Consecroted Property ond Moveoble Church Furnishings Consecrated land and benefice property such as the church building and vicarage is excluded from the accounts in accordance with section 10 of the Charities Act 2011. No value Is put on moveable ohurch furnishing5 and contents held by the vicar or churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers these to be inalienable Property. All expenditure incurred on consecrated or benefice building5 and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activlties. Freehold Lund & Building Our Diocesan Advisors are currently working on whether the land and Straw Bale Annexe to the rear of the church counts as PCC Freehold. For the purposes of this yearfs accounts, they have advised us to assume that it is not PCC freehold but rather, part of the church's consecrated ground. Other Fixtures, Fittings & Office Equipment The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful life of the asset, which has been estimated as 4 years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. Debtors Trade and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid. Cash at bonk and in hund Cash at bank and in hand inclijdes cash and call deposit5 With a short maturity of three months or less from the date of opening of the deposit. Current assets Amounts owing to the PCC at the balance Sheet date in respect of fees, rent or other income are shown in debtors less provision for amounts that may prove uncollectible. 12
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASficAL PARISH OF HOLY TRINITY & 5r MArrHIAS, TULSE HILL Note5 to the Financlal Statements Forthe year ended 31 December 2023 Fund occounting The funds held by the charity can be- Unrestricted funds - these are funds which can be used in attordance with the charitable objects at the discretion of the charity. The PCC has internally subdivided its unrestricted funds between unrestricted undesignated and unrestricted designated funds, the latter beinB unrestricted funds that the PCC has designated for the time being to be used for specific purpose5. Restricted funds these are funds that are to be spent only on particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor, when funds are raised for particular restricted purposes or in certain instances when the charity itself ascribes the fund restricted status. Endowment funds- these are funds that have been gifted 50 that the charity has use of the income generated by the fund for its charitable purposes. There are two types of endowment funds: permanent endowments, where the tapital cannot normally be spent by the charity li.e. they must normally be held indefinitely, although how the fund's capital is invested does not need to remain staticl, and expendable endowments, where the charity can exercise the power to spend or apply the fund's capital lor can choose to defer exercising this power indefinitely) as well as its income. Dioceson porish supportfund The PCUS contribution to the Diocesan parish support fund IPSFI is accounted for when payable. Ar4y PSF contribution unpaid at the calendar year end is provided for in these accounts as an operational Ithough not legall liability and 15 shown as a creditor in the Balance Sheet. Volunteers No financial assessment or capitalisation of the efforts of volunteer5 ha5 been included these accounts as this would be impractical. Crltlcal attounting estimates and areas of juilgement In the view of the PCC, in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statement5 nor do any estimates or a55umptions made cary a significant risk of material adjustment in the next financial year. 13
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2023 2. Income Unrestrfcted Unrestricted Undeslgnated Designated Funds 2023 Restrfcted EIthMeNt Funds Fund$ 2023 2023 Total Funds Z023 Total Funds 2022 Note 2023 Donations and le8a£les Offerings and donations GiftDay Income taxreclaimed Gr8nts 94,m3 73.988 167,991 IL8,702 12,975 24,588 13,(K>l 7,582 20,583 2a Tal 231 Z46.416 Charitable aulvltles Rental income Funerals,Weddings &Banns Parish Weekends SolarenergylFiTI Other Total 1,880 13.397 15,277 14,175 7.834 5,455 5,455 8,12d 1,768 8.124 1,768 376 1,230 1,467 376 376 13.397 24.706 Investments I nvestment I ncome Total 154 660 154 660 Other Gra nts towz rds VAT costs underLi5ted Places of Worship Scheme Grants towa rd energy costs other Total 165 934 1.099 11,329 1,400 727 88 253 700 788 13A56 Overall Total 135,153 154 275 745 285.237 2a. Grants received Unrestricted Unrestrirted Undesignated Designated Furx15 Fyros 2023 Restrirted Endwme Fu$ Funds 2023 Z023 Total Fund5 2023 T01 Funds 2022 2023 Aeceiwed from Acfs 435 Grants rowa rds communlty money 890 890 2,SCrf) Grants tOW8 rds livestreaming Gra nts for Phase IV Total 3,000 3.000 90,151 90,151 42390 14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 Decernber 2023 3. Expenditure Unrestrlcted UnrestrfLted Undeslgnated DeslBnated Funds FyfvY$ 2023 2023 Restr5Lted Endrrwment Fun(ts Fund5 2023 2023 Total Furyls 2023 Tixal Fund$ 2022 N¢)le tharit•bl• •¢tlvltles Bui I ding C05t Wrlte-down Chu rch Life & Outreach OergyRunning Expenses Oergy Utilitie5 & Phone Tree WorkslG3 rden Costs Grants Insurance 191,341 191,341 10,800 876 1,040 500 5,567 7,165 141,648 3,885 693 1.323 2.228 1,363 6,578 9,906 2,474 876 1,040 500 8.326 5.567 7.165 ccrviLivestreami ng 889 Projector Missionary& Charitable Giving Parish SupportFund Parish Weekends Maintenance of BuildiTrgs and 537 537 3b 5,697 4,643 10,340 9,258 62,880 9,242 62,880 9,242 61,600 1,804 666 6,270 51,372 Publicity&Printing util Ity and other running¢o$ts Rental cost5 Weddings & Funerals Other Tthal 210 13,118 13,118 17.252 Ll,159 11,159 1.827 1,683 335,232 11,C69 2,912 I,D72 325.061 1,827 854 75 202 5LXI 829 106 Other Bank Charges Other Totsl 230 230 700 930 357 350 707 700 700 230 Overall T(*al 107.104 336 162 325.768 Costs incurred by the Phase IV Fund that have added to the value of the Straw Bale Bijilding afe covered in Note 5. 15
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLYTRINITY & ST MAThHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2023 3a. Grants pald Unrestriued Vnrestrirted UTrJeslgnated Deslgnated FLS Restricted Ethwment FurKIs Fund5 2023 2023 Yotal Funds 2023 Total 2023 2023 2022 ACTS 435 clients Grants from VDF Totsl 890 890 5,567 1.363 3b. Missionary and Charitable Giving Unrestrfcted Undesignated 2023 Restyltted Funds 2023 Total Funds 2023 Total Funds 2022 Glvlry to oryanlsatlons Bis hop of Southwa rk Lent Appea I IUKI 8BCChildren in Need Appeal Cora m (Chidren's Cha rity, UK) 1.250 200 200 200 450 io 1,250 2( 150 150 150 1,250 io Eagles Ma13wi lmalawi.wa Malawi Supportl Holy Trinity Primary Schtsol HolyTrinIty PrimarySchool-Year6Leaver5' Bibles Norwood & Brixton Foodbank Pazy Esperanza (pea &Hope Perul Prison Fellowship Ichristian Prison Mini5try- London) Save the Chi I dre n Fund Si meons Tru5tee5 (Patron5 of Holy Trinity Churchl Spi nn3 ker Trust Ichristia n Schools tha rity, UK) Spi res Centre, Streatha m St Christopher's H05pice, Beckenham St Ma rtins-l n-the-Fields Church Christmas Appea I St Mungo's IEndinE HomÈlessness/Rebuilding Livesl TearFund Teshie Orphanage (Ghanal Water Ai Welcare,London 1.250 io 602 300 200 200 200 150 200 LOD 350 l(K) 150 2QO lao Lao LOO 200 200 200 1.275 150 1,275 1.140 loo IIK) GIVI to Individuals Roband Ruth Kinderman IUKI Linda Anna (Francel 195 255 450 9,258 All the Restricted Fund expenditure relating to Missionary and Charitable Giving was incurred by the Congregational Missionary Giving Fund. 16
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST mAHlAS, TULSE HILL Notes to the Ftnancial Statements For the year ended 31 December 2023 4. Net Income This is stated after charging.. 2023 2022 Depreciation 1,426 889 This yea¢s and last year's examinations have kindly been provided for no charge by the Independent Examiner. 5. Transfers Between Funds Transfer5 between Funds involved the following.. 2023 2022 Transfer from Senlor Otizens l¥estrlcredl to Phase IV Irestrictedl Correspondinztransferfrom Phase Ivtostrakv Bale Building lunrestri¢tedl other tra nsfers from Phase IV to Straw Bale Buildi ng lunrestrlctedl i.oio I,oio 190,331 141,648 The transfer In 2023 from the Senior Citizens Fund to the Phase IV Fund was approved by the members of the Senior Citizens Group reflecting features of the new community hall expected to beneflt senior citizens. The total transfer from the Phase IV Fund to the Straw Bale Building Fund equals the costs incurred on the building during the year. all of which were incurred by the Phase IV Fund. These costs were: 2023 2022 seICe5 provided by HThH Bui Idlng Development Co Ltd 171.728 376 850 95.530 165 5.026 10,052 29,680 1,195 141,648 Insurance Doorins1311ation Aircondltioningandventilation Sundry Total 15,000 6. Tanglble Flxed Assets FIKtiire5, flttinBs and ew11eTrt prt¢YYear Total Tctal 2023 Cost AtlJanuary2023 Addltions Dlsposals At 31 Dece mber 2023 3,557 3,220 3.557 3,220 3.557 6,777 6,777 3.557 Depredatlon At lJanuèry2023 Charge for Yea r Disp05als At31 Detember2023 11.1861 1.4261 11,1861 11,4261 12961 18891 12,6121 12,6121 11,1861 Net value At 31 December2023 At 31 December 2022 2.371 2,371 3,261 17
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLYTRINITY & ST MArrHIAS. TULSE HILL Notes to the Financial Statements For the year ended 31 December 2023 The fixtures, fittings and equipment were held by the Building5 Fund and the Main Fund (representing equipment purchased as part of the CCTV / Livestreaming / DIgtal Mixer element of the 2021 Gift Day Appeal and the new projector bought in 20231. 7. Fixed Assets Investments 2023 2022 Marketvalue atbeginningolyear Addltlons to i nvestments at cost Disp05als of investments Netgain/llosslon revaluatio T¢)tal 14,619 146,954 15,747 iii 800 162 373 1,239 14,619 Details of these investments are: Main Fund (Unrestricted) At 31 December 2023 the Main Fund held £149,54012022: £2,7401 in ca5h-deposit-like income generating investment accounts with the Central Board of Flnance of the Church of England ICBFCEI. The accounts are administered by CCLA acting as custodian trustee on behalf of the PCC. At 31 December 2023 the Main Fund also held the £1 of share capital of the HThH Building Development Co. Ltd12022.. £11. Vicar's Di5cretiorJ(Jry Fund (Restricted) Included in the Vicars Discretionary Fund IVDFI are 412 units in COIF Charities Investment Fund Income Units held by the H. Reed Trust and 81 units in the COIF Charitie5 Investment Fund Income Units in the Hemmings Trust, as these trusts are constructively controlled by the VDF. As at 31 December 2023 their combined market value was E9,78412022.. £8,9601. There is no record of their cost at the time they were acquired. Both are administered by the Diocese of Rochester and Southwark acting as custodian trustee on behalf of the PCC. War Memorial Fund (Endowment) At 31 December 2023 the War Memorial Fund held 69 M&G Charifund Income Shares Wlth a market value of £99012022.. £1,014). There is no record of their cost at the time they were acquired. At 31 December 2023 the War Memorial Fund also held £2,05912022: £1,905) in cash-deposit-like income generating investment accounts with the CBFCE. The capital of the Fund 15 currently formed by its holding5 in the M&G Charifund Income Shares with the rem3inder representing accumulated income. Both are administered by the Diocese of Rochester and Southwark acting as custodian trustee on behalf of the PCC. 18
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Notes to the Financlal Statements For the year ended 31 December 2023 8. Debtors UnSttted [InStricted Undesignated Deslgnated FurKIs FuTras 2023 2023 Re5trided Endtswment Furkls Funds 2023 2023 Totsl FUNIS 2023 Total Funds 2022 Income tax recovera ble Straw Bale Bullding prepayments fjra nts towa rds VAT costs underListed Places of Worship Scheme Rentsl income Offeri ngs a nd donatlons Tenants, deposits Vicar's expenses Totsl 12.561 7.582 20,144 21,602 27,868 27,868 14,596 165 934 1,099 9,057 130 l(K> 198 298 45 440 1,040 257 46.727 1,124 13.950 L,124 50.973 9. Credltors- Amounts Falllng Due Within One Year Unrestricted Undeslgnoted Funds 2023 Unrestricted Designated Fut)Js 2023 Restricted EThd¢Mrnerrt Fund5 FuThls 2023 2023 Total Furx15 2023 Totsi Fund5 2022 Accruals.. Misslonary& Charitable Giwng Accruals.. PayThents to Diocese Bankcharges Vicarfs expenses Vlcar'5 runnin8expen5es Renta l / Ernployment costs Sundryexpenses I Tenant5. deposlts Other Income ta¥ recovera ble Rental in¢ome Total 300 708 164 916 425 141 425 141 367 1,170 189 1.359 132 440 572 1,153 845 1,642 36 233 233 19
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLYTRINITY & ST MATTHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2023 10. Undesignated, Designatefl, Restricted and Endowment Funds loa. Current Year At31 December At31 Gains I Ilossesl December 2023 2022 Income Expenrfiture Transfers Unrestricted UrnJe5lgnad Fu Main Total 127,041 127,041 107.104 107,104 85,440 65,503 Urrtstritted De518nat*d Funth Straw Bale Bui Idin8 Tena nts Tal 1191.3411 IL.159 191,341 Restrlcted Fund5 Acfs 435 890 12,L68 18901 16,4931 7,121 12.796 Congregation31 Ml55i0naryGlwng Im3glne Phase IV 4,643 14,6431 4.490 251,128 I,oio 540 4.490 L58.440 97,644 1190,3311 11,oioi Social aub Tenants TrinityTots Tulse Hill CAC VDF Youth Ministry Totsl 1,130 700 11,0951 17CQI 575 2,192 4,492 25.848 1,730 298,550 2.192 13.267 23.278 1,590 823 216,628 191,341 16,583 1.284 113 17,8081 14,6771 252 26,557 823 135,153 En(knvmerrt Fund5 War Memorial T¢)tsl 154 154 24 Overall Total 375 058 275 745 336 162 315 See Note 5 for further details of costs incurred by the Phase IV Fund. 20
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Notes to the Financial statements For the year ended 31 Decernber 2023 lob. Prior Year At31 December At31 Gains I 11055e51 December 2021 IKome Expenditure Transfers 2022 Llnre5tsIded UNleslgnated Funds Main Total 115,2?7 115.277 ID4,567 104.567 65,503 65,503 Ufftstrirted Designated FuTh4s StrawBale Buildin8 Tenants Total 1141,6481 141,648 152 717 Restrf£ted Funds ongolnB ACTS 435 33.467 33,979 160,3251 7,121 ConBreg3tlonal Mlsslonaryfjivin8 Imaglne Phase IV Senlor Citlzens Social Club Tenants Tri nity Tots Tulse Hill CAC VOF Youth Ministry 4,258 14,2581 4.490 279,513 I,oio 105 4,490 251,128 I,oio Sdo 113,263 1141,6481 1,152 350 17161 13501 2,192 5,737 24,796 1,532 35ZW41 2,192 4,492 25,848 11,2191 11.3631 252 3.594 450 11,1791 157 020 298.550 Erxh)wrnent Fur Warmemoria TDtsI 76 76 60 60 Ovor411 Total 416 28 Z85 The Funds operated by the PCC and whether land in what ways) they are restricted are: Maln Fund lunrestrlcted undesign*edl, This fund provides resources and raises income for promotion of the church's mission (pastoral, evangelistic, social and ecumenicall in the ecclesiastical Parish of Holy Trinitv and St. Matthias Church and its local community and for the normal day to day running costs of the parish church building complex of Holy Trinity and St. Matthias Church. The Church building. which is a Grade11 listed building, is located in Trinity Rise, London SW2 2QP in the Diocese of Southwark. The Church is in the Brockwell Park conservation area. Straw 8ale Building Fund (unrestricted designated). This Fund holds the Straw Bale Building currently under construction. As explained in Note I, following advice from our Diocesan Team, no value has currently been included in these accounts in relation to this building, by including a Building Cost Write-down applicable to this Fund. 21
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLYTRINITY & ST MAThHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2023 Tenants Fund {unrestrirted designated) and Tenants Fund Irestrictedl- Until 2020, income from a property 1100 Trinity Rise) rented by the church and sub-let to others was assigned a restricted status by the PCC in its attounts. A review of the Charities SORP concluded that there was no continuing need for the PCC to assign restricted status to such income streams in the future but it is still considered desirable to have separate designation in these Accounts of rental income from this source and associated expenditure. By the end of 2021 the Tenants Fund Irestrictedl no longer had any net assets but is still in operation to cater for tenancv deposits that need to be kept separate from other church funds. Acfs 435 Fund Irestrlcted). Acts 435 is a charity whose website allows people from all parts of the country to Eive money online for those who are in urgent need. The service is managed through a network of churches and donations are given quickly to those in need. The PCC is part of the network having signed up in January 2011. In 2023, £8901£0 in 20221 was paid out by the PCC to 4 applicants10 in 20221 who were experiencing financial hardship. Thi5 fund disburses 8rants received from ACTS 435 for these purposes. Building Fund Irestrirtedl. This fund supports major repairs, major redecoration and other enhancements to the general church building structure. During 2023 much of this fund's expenditure related to electrical and roofing work. Congregational Mlsslonary Giving Fund Ire5trirtedl. This fund Channels donations by church members to specified missionaiies or other charities with objectives compatible with the PCC'S own objectives. Imagine Fund Irestrictedl. This fund supports the church's Community Outreach Projects having originally been run in connection with the work of two part-time Community Outreach Workers, Aileen Garden and lacky Sutcliffe, who retired on 30June 2017. Phase IVAppeal Fund- Straw Bale Builder Project Irestrirtedl. Ouroverall fundraising target at end December 2023 is £1,200,000 lend 2022= £1,200,000) of which £1,097,923 had been raised by end 2023 lend 2022: E999,2701 and £939,483 spent by end 202312022- £748,142). Senlor Citizens Fund {restrictedl. Thi5 fund 5UPPOrts activities sponsored by the PCC for senior citizens le.g. outings and a Senior Citizens, bible study). Social Club Fund {restricted). This fund supports the work of Trinity Social Club which is a club organised bv the PCC for people living in and around Tulse Hill who would like to get out and mix. Trlnlty Tots Fund Irestrictedl. This fund supports OLttreach to those with very young thildren. Tulse Hlll Communlty Advice Centre Fund Irestrirtedl {Yulse Hill CAC"). This fund supports thè provision of community money advice. On 25 July 2017 the PCC became an Affiliate Member of Community Money Advice ICMAI. CMA is a nation81 charity committed to supporting churches and other community groups with a vision to help people overcome their money problems and make a fresh start on a stable financial footing free from the blight of indebtedness. Following the affiliation, a team of church volunteers were successfully trained by CMA as Debt Coaches which included passing an online Financial Conduct Authority test. Currently the Centre Manager is YetuTrde Akintunde. The aims of the Advice Centre are- lal To help people concerned about financial issues by providing money management support; Ibl To support people who are in debt to find a realistic plan to live within their needs and to 5UPPOrt them in dealing with their creditors,. 22
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLYTRINITY & ST MAThHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2023 Icl To empower local people by providing a place where they can find the information they need; and Idl To offer practical help from links with Acts 435, food from a parish larder and food from a local food bank. Vicarfs Discretionary Fund {restrirtedl {WDF"). This fund is used at the discretion of the Vicar to assist those in need in the parish or with another link with Holy Trinity. The H Reed and Hemmings trusts are constructively controlled by the Vicarfs Discretionary Fund and are subject to similar restrictions so are included in the assets of the Vicar's Discretionary Fund. These two trusts are administered by the Diocese of Rochester and Southwark acting as custodian trustee on behalf of the PCC. Youth Ministry Fund Irestrlcted). This fund supports work involved with Youth Ministry including Youth Chufch having originally been run in connection with the work of a full-time salaried YoLrth Worker who left on 31 August 2011. Occasional Fund5. From time to time, the PCC also establishes one-off funds handling specific donations given for specific time-limlted purposes. War Memorial Fund (expendable endowmentl. This fund is administered by the Oiocese of Rochester and Southwark acting as custodian trustee on behalf of the PCC. The PCC 15 entitled to use the income from this tund. Records held by the Diocese of Rochester and Southwark indicate that this fund is an expendable endowment fund. 11. Related Party Transactlons and Balances During 2023120221, members of the PCC or their close associates lincluding spou5e518ave lor directed other charities to give) amounts as below in unrestricted offerings and donations to the PCC. The PCC made payments lor prepayments) to HThH Building Development Co Ltd as shown below. The PCC also met expenses incurred by some PCC members for church purposes, employment costs for I member or close associate 12022.. 01 and provided grants for O members of the PCC or close associates12022.. 11 as shown below. Total Total 2023 2022 Total donated byPCCmembers ItfU5tees1 and their5POU5e5 Withoutconditions 43,620 39,375 PCC payments or prepayrne nts to HTTH Bulldl ng Development Co Ltd. 185,1 85.0(K) Expenses, employmentcosts orgrants paid to mernbers of the PCC Numbers of PCC members to whom expenses, employment casts or8ra nts were pald 10.746 4,338 The PCC member employed bythe PCCwasYetun(le Akintunde, who was employed as centre manager forthe Tulse Hill Community Advice Centre. During 2023, total employment Costs lincluding pensions and employer and employee National Insurance) incurred by the PCC in relation to her employment were £5,47712022'. £01. 23