THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Diocese of Southwark Our aim is to be channels of God's transforming love Annual Report & Accounts Year Ended 31 December 2024 Charity Registration Number: 1133884 Website,. www.htth.or .uk "Your 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 servants." Contents Page Legal and administrative information Report of the Parochial Church Council Independent Examinerfs report to the Parochial Church Council Statement of financial activities 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 admlnlstratlve information For the year ended 31 December 2024 Charlty Name The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity & St Matthias, Tu15e Hill {the 'PCC'I 1133884 (registered with the Charity Commission, entered into the Register of Charities on 28January 2010) Principal Address Holy Trinity Church, 51 Trinity Rise, London, SW2 2QP Governing Document Parochial Church Council Powers Measure119561 as amended and Church Representation Rules Promoting in the ecclesiastical parish the whole mission of the Church Charity Number Purpose as per Governing Document Members of the PCC Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting {"APCM") in accordance with the Church Representation Rules. The members of the PCC are the Trustees of the charity. At the APCM held on the 27 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: Clergy lex offlclo) th Revd Richard Dormandy {Chair, Vicar} Revd William Sharpe (Non-stipendiary) Dlocesan Reader (ex officlo) Gloria Otu-simon Churchwardens (ex offlcio) Fay Morris Nicole Lyon Lay representatlves to the Deanery Synod (ex offlcio) Elected lay representatives Jamie Lobban Yetunde Akintunde Zebida Gardner-sharper {from 21 May 2023) Amy Grant {from 21 May 2023} Alicia Humphrey5 (from 21 May 20231 David Jowsey Malcolm Kemp (to 19 May 2024) Alice Odusina (to 19 May 2024) Rebecca Robertson Georgie Snyder {to 10 June 241 Jacky Sutcliffe (from 21 May 2023) Adam West (from 21 May 20231 Naomi Kemp Sina Taiwo Anne-marie Harrison Oliver Thomas (from 25 November 2024) Key Management Personnel Those in charge of directing, 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 E14 5HP Bankers
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Report of the Parochial Church Councll For the year ended 31 December 2024 The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity & St Matthias, Tulse Hill (the 'PCC"I submits its report and the financial statements of the PCC for the year ended 31 December 2024. The financial Statements have been prepared on an accruals basi5 in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities {Charities SORP, second edition 2019), and the Financial Reporting Standard 102. The legal and administrative information set out on page 2 forms part of this report. The PCC co-operates with the incumbent in promoting the whole mission of the Church within its Parish and beyond. It also has responsibility for paid staff {if 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, safeguarding, 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 Meeting {APCM) in accordance with 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 {or part thereof). The maximum number permitted is 15 where the electoral roll exceeds 200 names. The full PCC met 8 times during the year with an average attendance of 600/0. Five of these were held in person and three 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 Standlng Committee Urgent matters can be transacted between PCC meetings by the PCC Standing Committee. This Committee has the power to transact any business of the PCC between its meetings, subject to any directives given bythe PCC, and during the year comprised the Vicar, the Churchwardens, the Secretary, and two members of the pcc. 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 130 {2023' 127). 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 assessed the major risks to which we are exposed, in particular some specific operational areas and our investments and finances. The PCC believes that by monitoring reserve levels by ensuring that controls exist over key financial sy5tem5
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Report of the Parochial Church Council For the year ended 31 December 2024 by establishing a health and safety policy by implementing a safeguarding policy by examining and monitoring other operational risks we have established effective systems and procedures to mitigate these risks. Safeguardlng 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. Activitles, Strategles and Publlc Beneflt It is a legal requirement for all charities to exist and act for "public benefit" To this end the PCC doe5 the following in order to enable ordinary people to live out their faith as part of the parish community: It provides facilities 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, service 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 Tu15e Hill Community Advice Centre and the Social Club, see Note 10 to the Financial Statements. 3. Review of the Year The single most significant event of the year was the opening of our Hand Built (straw bale) Hall, which th took place on April 20 Work had been completed by March 31, which was exactly seven years to the day since we broke ground. Over 600 volunteers had been involved during that time, and the building was opened by a group of them with othersupporters. A memorial plaque is fixed in the apse. Having the hall significantly adds to our insurance bill, so it is essential for the hall to generate income as a matter of course in order to mitigate this drain on mission and ministry resources. Furthermore, while the 19.8kWh solar panels generate a lot of energy, our electricity bill has gone up since using the hall. This points to the necessity of installing solar batteries as soon as possible so that power may be stored and used by us instead of being sold back to the grid at a much lower rate. Fortunately, our insurance company finally agreed to the installation and siting of batteries in the Autumn of the year. Use of the hall will be an evolving process, Working out our pricing and protocols has taken place dynamically, with tweaks made in response to experience. Compared to, for example, Brockwell Hall, our hire prices are much friendlier. Other community halls are cheaper, but not nearly such good spaces. We are also aware that if we set our prices much lower, we could easily be deluged- and we don't have any staff dedicated to this. In order to pay staff who can look after the hall, we need to generate more bookings- so currently we are betwixt and between! One final point to mention on our pricing policy is that we've currently set a £2,000 cap on a "single event" in the church & hall - so for example, a wedding or funeral service with a reception space will not cost more than £2,000. This makes us super-competitive on price for a package, but it's also a way of recognising that these are very expensive times for people and we want to help. We have so far had a number of bookings: birthday parties, funerals, a wedding and a nine-night - plus some church events as well as our regular Community Money Advice Centre and Trinity Kids on Sundays. We were also expecting to re-host our Trinity Social Club in the hall, but unfortunately the group didn't have enough leaders to make this viable. Much work was done in the final months of the year to recast the club and recruit new leaders, but without success. In the Spring of 2025 Anne-marie
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Report of the Parochial Church Councll For the year ended 31 December 2024 discovered a club at Lansdowne Evangelical Church, which had leaders but lacked members- so the club has relocated there. In due course, we aim to re-establish a social coffee morning here, Our other church events have included games afternoons, Confirmation Service Reception, and a Light Party. Our youth church ha5 continued to play an important part in our Services on the last Sunday of the month, and younger children {Y5 and older) continue to help with the administration of Communion at the All Age Service. The fact that we admit children to Communion from the age that they eat solids in no way diminishes the significance of Confirmation later. We had a good number of young people confirmed in the Autumn of 2024, with another healthy number being prepared for the Spring of 2025 and this is in addition to those confirmed through their schools. Instead of being a gateway to receiving communion, confirmation is absolutely what it should be: the public ownership of a person's faith. Our Main Fund lunrestrictedl ended the year at £88,064 (2023: £85,440). our Building Fund ended the year at £30,00012023', £12,796); our Tulse Hill Community Advice Centre Fund ended the year at £9,17712023 £13,267); and our remaining Funds ended the year at £39,93512023: £45,498). 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" basis. 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. Financlal Revlew The PCC'S main sources of funding are donations from church members and others in attendance at church services and gift aid reclaims on these donations. Overall Flnanclal Actlvlty and Flnanclal 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 £148,267 during the year {2023: reduced by £59,617). The balance sheet shows total net assets at the end of the year of £167,176 lend 2023: £315,441}. Included in total funds are amounts totalling £67,462 which are restricted (or represent endowments) lend 2023: £219,676). These balances have either been raised for specific purposes or they comprise donations subject to donor imposed conditions. Further details of these funds can be found in Note 10 to the Financial Statements together with an analysis of movements over the year. Reserves Policy 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¥0 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 existence of our restricted building fund to support major repairs and renovation work to the church building. At 31 December 2024 the church had net free reserves and funds in it5 Building Fund as set out below:
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST mAHlAs, TULSE HILL Report of the Parochial Church Councll For the year ended 31 December 2024 At31 December 2024 At31 December 2023 Bulldlng Fund Free reseNes Free reserves a5 knge of annual unrestricted expendlture lexcl. Straw Bale costs) 30,000 99,214 90% 12,796 95,234 81% Investment Policy In 2019 a company, HH Building Development Co Ltd was established to assist in the management of the project to build the new Straw Bale Community Hall. The PCC was the sole shareholder of this company, the company was closed in October 2024. The PCC holds some collective investment vehicles or other investments in some of it5 funds and in two trusts that it constructively controls, see Note 7 to the Financial Statements. The remainder of our non-tangible assets are held in bank accounts. Grants Policy The PCC makes grants from its unrestricted funds to support charitable and missionary endeavours both in the UK and abroad. Currently it aims to make grants from this source equivalent annually to approximately IO% of its incoming unrestricted resources less payments to the Diocesan Parish Support Fund. Individuals and organisations regularly supported land their locations) include Children Worldwide {UKI, Eagles Malawi Imalawil, Paz Y Esperanza (South America}, Prison Fellowship IUKI and Welcare (UK). The policy of the PCC is to give grants on the basis that they are subject to annual review, although where practical we seek to give reasonable advance warning of likely termination so that recipients 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 3a to the Financial Statements, One of the PCC'S restricted funds is the Vicar's 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 has 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 forTEAR 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 15 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 comments The PCC wishes to express its thanks for the continued generous giving of all who have contributed financiallv and in other ways to the life and mission of the church. 6. Responsibilities of Trustees for the Financial Statements The PCC is responsible for preparing the report and financial statements in accordance with applicable law and UK Generally Accepted Accounting Practice.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Report of the Parochial Church Council For the year ended 31 December 2024 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 15 required to". select suitable accounting policies and apply them consistently; observe the methods and principle5 of the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unle55 It is inappropriate to presume that the activities of the charity will continue. The PCC is responsible for keeping adequate accounting records which 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 Charities 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 charitWs website. 7. Approval The report of the PCC was approved by the PCC on April 28 2025, and signed on its behalf by: th Rev. Richard Dormandy, PCC Chair
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MATTHIAS, TULSE HILL Report of the Independent Examiner to the Parochial Church Council of Holy Trinity & St Matthias Church, Tulse Hill I report on the accounts of the Parochial Church Council of Holy Trinity & St Matthias Church, Tulse Hill for the year ended 31 December 2024, which are set out on pages 9 to 22. Respertive responslbllltles of PCC and examlner The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year (under section 144{21 of the Charities Act 2011 (the 2011 Actll and that an independent examination is needed. l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. It is my 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 Commissioners {under section 145{51{b) of the 2011 Act); and to state whether particular matters have come to my attention. Basis of independent exominers, report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting 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 the seeking of explanations from you as trustees concerning any such matters. 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 examiners, statement 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 record5 were not kept in respect of the church 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. IIJGJ Mike Newsam, 32 Garlies Rd, Forest Hill SE23 2RT
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Statement of Financial Activities For the year ended 31 December 2024 2024 2023 Unrestrlcted Fund5 Deslgnated Restrlctèd Funds Funds Endowment Funds TOTAL TOTALFUNDS FUNDS Note Income from.. Voluntary Income Charitable Actlvitles Incomefrom Property Investments Other income 114,593 2,858 12,345 4,080 239 70,147 120 1,273 152 3,968 75,660 184,740 231,464 2,978 31,000 27,108 4,232 11,394 4.207 1,887 223,264 275,745 13,490 Total Income 134,114 13,490 Expenditure on: Charltable activities Other 113,286 715 12,166 245,668 371,121 335,232 715 930 Total Expendlture 114,001 12,166 245,668 371,836 336,162 Net galn51llosse51 on Investments Net IncomellExpenditurel 304 1169.7041 304 148,267 800 159,6171 20,113 1.324 Transfers between funds 117,4891 20538 13.0491 Net movement In funds 2,624 1,324 149,1661 13,0491 1148,2671 159,6171 Total funds brought forward 85,440 10,325 216,628 31)49 315,441 375,058 Total funds carrled forward 88.064 11,649 67,462 167.176 315,441
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MATTHIAS, TULSE HILL Balance Sheet As at 31 December 2024 TOTAL FUNDS 2024 TOTAL FUNDS 2023 Note FIXED ASSETS Tangible Assets Investments Total Fixed 2,471 127.507 129.978 4,165 162,373 166,539 CURRENT ASSETS Debtors Cash At Bankand In Hand Total Current Assets 15,476 26,756 42.232 50,973 102,214 153,187 UABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 5,034 4,285 NET CURRENT ASSETS 37,198 148,902 UABILITIES: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR NET ASSETS 167.176 315.441 REPRESENTED BY: Endowment Fund Unrestricted Funds Designated Fund Restricted Funds TOTAL FUNDS io 3,049 85,440 10,325 216,628 315,441 88,064 11,649 67,462 167,176 The financial statements were approved by the PCC on April 28th 2025 and signed on its behalf by: Rev. Richard Dormandy, PCC Chair Nicole Lyon, Church Warden io
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST mAHlAs, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2024 l. Accounting Pollcles The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Basls of accountlng The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice,. Accounting and Reporting by Charities (Charities 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 accounting except for investments and freehold land and completed buildings which are shown at market value. As our Diocesan Team has advised us to assume that our Hand Built Hall annex 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 is 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 owned IOOYO of the share capital of HThH Building Development Company Limited I"HThH"). These accounts are presented on a solo basis for the PCC in isolation and do not consolidate HH'S own income and expenditure into the PCC'S income and expenditure, HrrH was closed in October 2024. The PCC meets the definition of a public benefit entity under FRS 102. Going Concern There are no material uncertainties about the charity's ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis. Recording Income in the Accounts Voluntary income and donations {including legacies) 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 is received by the donor if later. Interest on funds held on deposit is included when receivable and 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 500n 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 {e.g. because a discount IS 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 cost5 in fulfilling the PCC'S principal objectives, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs. 11
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 2024 Grants payable are payments made to third partie5 in furtherance 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 fulfillinE 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 object5. No tax charge5 have arisen on the PCC. Assets and Liabilities Consecrated Property and Moveable 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 church furnishings 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 buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activitie5. 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 bank and in hand Cash at bank and in hand includes cash and call deposits with a short maturity of three months or less from the date of opening of the deposit. Current ossets 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. Fund accounting The funds held by the charity can be: Unrestricted funds- these are funds which can be used in accordance with the charitable objects at the discretion of the charity. The PCC has internally subdivided its unrestricted funds between 12
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2024 unrestricted undesignated and unrestricted designated funds, the latter being unrestricted funds that the PCC has designated for the time being to be used for specific purposes. 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 so 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 capital 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 static), 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 parish supportfund The PCC'S contribution to the Diocesan parish support fund IPSF} is accounted for when payable. Any PSF contribution unpaid at the calendar year end is provided for in these accounts as an operational (though not legal) liability and is shown as a creditor in the Balance Sheet. Volunteers No financial assessment or capitalisation of the efforts of volunteers has been included these accounts as this would be impractical. Critical accounting estimates and areas of Judgement 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 statements nor do any estimates or assumptions made carry 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 2024 2. Income 2 INCOME 2024 2023 TOTAL Notes Unrestrlcted Designated Rtstrkted TOTALFUNDS Voluntsry Intome Offerings & Donations Spècial appeals GrftAid from HMRC Grants 94,343 321 19,256 673 114.593 55,450 2,041 12,656 149,793 2,362 31,912 673 184,740 167,991 20583 44,777 233,351 70,147 Charltable actlvltles Church Events and Incomefrom Attlvf(ies Funeral. Weddlng, & Banns 605 2,253 2,858 120 725 2,253 2.978 8,124 5,455 13,579 120 Income from Propeity Church Property Income Hall Propety Income Solar Energy Income FlatRental Income 4,974 7371 4,974 7371 1,273 13A90 27.108 1,880 1,273 1,768 13,397 17,045 13,490 13,490 12.345 1.273 Investrnents Investment Income 4.080 4,080 152 4,232 4,232 11,394 11.394 152 Other Income Other Income 239 3,968 3,968 4,207 4,207 376 376 239 Total Intome 134,114 13,490 75,660 223.264 275.745 14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST mAHlAs, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2024 3. Expenditure 2024 2023 TOTAL Unrestrlcted Deslgnated Re5tridèd TOTALFUNDS Charikble Acltvltles Building Costs Church bfe Productlon & Worship Cleoy Accommo(Sation Costs Clèrgy Expenses Trinity Kid5 & Youth Evangeli5rn & Local Mission Flnance Costs Garden Malntenance Grants & Giving to othercharities Parishsupport Fund rish Events & Coordination InsuTrn Maintenance Rental Costs Utilitles & OthèrRunning Costs Wedding & FuneTrls Salaries Staff Expense5 VlcarDisuetlonary Fund Other Expenses Totsl Charitsblè Attfvlttes 218367 218,367 5,554 4,020 1,231 2KJ14 2,555 2,987 3,782 607 191341 10,800 IA26 1,040 876 5,554 4X)20 1,231 2K)14 iii IP46 3,782 607 4,9(K) 65,4(K) 532 1,941 5(j 3.181 8x181 65A 532 4051 4R90 13,246 10?72 360 11382 684 9,607 15,907 62,880 9.242 7,165 6,270 11,159 13,118 1027 4,851 4,890 12,166 1.080 10,972 360 11,382 684 9,607 1fi83 335,232 113.286 12,166 245,668 371,121 Other Bank Charges Other Total Other 391 391 230 324 324 700 715 715 930 Totsl ExPendre 114,001 12,166 245.668 371.836 336,162 15
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Notes to the Financlal Statements For the year ended 31 December 2024 3a. Missionary and Charltable Glvlng 2024 Restrlcted 2023 3a. M1$51on Grants Unrestrlcted Total Total Act5435 Alzhelmers Soclety Grants from VDF Blshop of Southwark Lent Appeal IUKI BBC Childredn in Need Coram (Childrens Charitvfft UK) Crisis IUKI Eagles Malawi (Vla Malawl Support) Holy Trinity CE Primary School HolyTrinity CE Prlmary School -year 6 Leavers Blbles Norwood & Brlxton Foodbank Paz Y Esperanza (Peace & Hope- Perul Prison Fellowship Save the Children SlmeonsTrustees (Patrons of HolyTrinity Church) Spinnaker Trust Spires Centie, Streatham St Christophers Hospite, Beckenham st Martins-In-the-Flelds Church- Chrlstmas Appeal St Mungo's Tear Fund Teshle Orphanage (Ghanal WaterAid Welcare. London Rob and Ruth Klnderman Ichlldren Worldwlde, UK) Linda Ann (France) 200 221 9,607 200 200 200 200 360 200 221 9,607 200 200 200 200 1.160 890 4,677 1,250 200 200 200 1,250 io 602 300 800 800 200 200 loo 300 loo 200 200 1,275 800 300 800 800 300 800 800 200 200 loo loo loo 200 200 1,200 200 200 loo loo loo 200 200 1,200 loo 800 800 loo 800 800 loo 800 800 450 15,907 4,900 12,988 17,888 All the Restricted Fund expenditure relating to Missionary and Charitable Giving was incurred by the Congregational Missionary Giving Fund. 4. Governance Costs Thisyearfsand last year's examination5 have kindly been provided for no charge by the Independent Examiner. 5. Transfers Between Funds Transfers between Funds involved the following: 5. Transfers Between Funds 2024 2023 Transfersfrom Senlor Citlzens Irestrictedl to Phase IV Irestrlcted Correspondingtranslersfrom Phase Ivto straw bale bulldlng lunrestrlctedl Other transfersfrom Phase Ivto Straw Bale Buildlng lunrestrSctedl Transfer from Maln Fund to Building fund Transfer from Main to Misslon Fund Transfer from Main Fund to Phase IV Transfer from War Memorial Fund to Phase IV Total I,oio i.oio 190.331 15,725 459 1,305 3,049 20,538 192,351 16
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2024 6. Tangible Fixed Assets Flxtures, fittlngs, and Equipment Cost at lJanuary2024 Additionsduringtheyear Disposalsduringtheyear Cost at 31 December 2024 6,777 6,777 Depreciation at l January 2024 Chargefor theyear Disposals duringtheyear Depreciation at 31 December 2024 2,612 1,694 4,306 Net Bookvalueat ljanuary 2024 4,165 Net Bookvalueat 31 December 2024 Thechurch building isaconsecrated buildingwhich is used and maintained bythe Parish. The fixtures, fittings and equipment were held by the Buildings Fund and the Main Fund {representing equipment purchased as part of the CCTV / Livestreaming / Digital Mixer element of the 2021 Gift Day Appeal and the new projector bought in 2023). 7. Fixed Assets Investments 2024 Shares 2023 Total Total Market Value at beginning of the year Additions Disposals/redemptions Net Gai n / {Lossl on revaluation Total 162,373 162,373 14,619 146,954 35,170 304 35,170 304 800 127 507 127 507 162 373 Details of these investments are: Main Fund (Unrestricted) At 31 December 2024 the Main Fund held £117,50312023: £149,540) in cash-deposit-like income generating investment accounts with the Central Board of Finance of the Church of England ICBFCE). The accounts are administered by CCLA acting as custodian trustee on behalf of the PCC. Vicorfs Discretionory Fund (Restricted) Included in the Vicars Discretionary Fund IVDFI are 412 units in COIF Charitie5 Investment Fund Income Units held by the H. Reed Trust and 81 units in the COIF Charities Investment Fund Income Units in the Hemmings Trust, as these trusts are constructively controlled bythe VDF. As at 31 December 2024 their combined market value was £10,005 (2023: £9,784}. 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. 17
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 2024 War Memorial Fund (Endowment) At 31 December 2023 the War Memorial Fund held 69 M&G Charifund Income Shares with a market value of £990. There is no record of their cost at the time they were acquired. At 31 December 2023 the War Memorial Fund also held £2,059 in cash-deposit-like income generating investment accounts with the CBFC£. th At the PCC meeting held on April 29 2024, the PCC resolved to liquidate our holdings in the War Memorial Fund to part finance the cost of the Memorial Garden. 8. Debtors 2024 2023 Offeringand donation Prepayments Gift Aid recoverable Deposits Grant5 receivable Vicars Expenses Loan Total Debtors 444 11,800 1,920 440 673 298 27,868 20,144 440 1,099 1,124 200 15,476 50,973 9. Creditors- Amounts Falllng Due Wlthin One Year 2024 2023 Accounts Payable Bank Charges Missionaryand Charitablegiving Rental and Employment Costs Sundry /Tenantsdeposits Other Vicars Exp and running costs 1,240 2,500 32 600 663 708 1,592 572 845 566 4,285 5,034 18
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST mAHlAs, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2024 10. Undeslgnated, Designated, Restrlcted and Endowment Funds loa. Current Year At 31st December 2024 At Istjan 2024 ncome Expenditure Transfers Unrestrlcted Main Total 85,440 85,440 134,114 134,114 1114,0011 114,001 117,4891 17,489 88P64 88,064 Designated Fund5 Tenants Total 10.325 10,325 13,490 13,490 112,1661 {12,1661 11,649 11,649 Restricted Funds Acts 435 Bulldlng Missionary Giving Imagine phase IV Senior Citizens Social Club Trinlty Tots TulseHill CAC VDF Youth Mlnlstrv Total 250 12001 50 12,796 1,479 2,723 15.725 459 30IX)O 13,1811 11,0801 1218,3671 4,490 158A40 3.410 55,573 4,354 575 115 690 2,192 9,177 15,223 6,721 67,462 2,192 13,267 23,278 1.590 216,628 9,033 1,552 5,242 75,964 113,1221 19.6071 Iiiii {245,6681 20,538 Endowment Fund War Memorial Total 3,049 3,049 13,0491 (3,0491 cerall Total 315,441 223,568 371,8361 167,175 19
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Notes to the Flnanclal Statements For the year ended 31 December 2024 lob. Prior Year At 31st December 2022 At 315t December Income Expendlture Transfers 2023 Unrestrlcted Main Total 65503 65,503 127KJ41 127,041 1107,1041 1107,1041 85,440 85,440 Deslgnated Funds Straw Bale Building Tenants 11913411 111,1591 202,500 191,341 8,087 8,087 13,397 13,397 10,325 10,325 Tolal 191,341 Restricted Funds Acts435 Buildlng Mlsslonary Glving Imaglne Phase IV Senior Citizens Social Club Tenants 890 18901 16.4931 14,6431 7,121 12.168 4,643 12,796 4,490 251.128 i.oio 540 4,490 158.440 97,644 1,130 700 11,0951 17001 575 TrlnityTots Tulse Hlll CAC VDF Youth Mlnlstry Total 2,192 4,492 25,848 1,590 298,550 2,192 13,267 23,278 1,590 216,628 16583 1,284 113 17.8081 14.6771 12521 126,5571 823 135,153 823 Endowment Fund War Memorial Total 2,919 2,919 154 154 1241 1241 3,049 3,049 (erall Total 375,058 Z75,745 1336,1621 800 315,441 The Funds operated by the PCC and whether {and in what ways) they are restricted are: Main Fund (unrestricted undesignated). This fund provides resources and raises income for promotion of the church's mission (pastoral, evangellstic, social and ecumenicall in the ecclesiastical Parish of Holy Trinity 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. Tenants Fund {unrestricted designated) and Tenants Fund (restricted), Until 2020, income from a property {100 Trinity Rise} rented by the church and sub-let to others was assigned a restricted status by the PCC in its accounts. A review of the Charities SORP concluded that there was no continuing need for the PCC to assign a 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 20
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MArrHIAS, TULSE HILL Notes to the Financial Statements For the year ended 31 December 2024 2021 the Tenants Fund Irestrictedl no longer had any net assets but is still in operation to cater for tenancy deposits that need to be kept separate from other church funds. ACTS 435 Fund (restrlcted). Acts 435 is a charity whose website allows people from all parts of the country to give 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 2024, £2001£890 in 20231 was paid out by the PCC to l applicant14 in 20231 who were experiencing financial hardship. This fund disburses grants received from ACTS 435 for these purposes. Buildlng Fund Irestricted). This fund supports major repairs, major redecoration and other enhancements to the general church building structure. Congregatlonal MissFonary Giving Fund (restricted). This fund channels donations by church members to specified missionaries or other charities with objectives compatible with the PCC'S own objectives. Imagine Fund (restrlcted). 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 Jacky Sutcliffe, who retired on 30June 2017. Phase IV Appeal Fund Straw Bale Builder Project (restrlcted). The build was completed the early part of 2024. Senior Citizens Fund (restricted). Thi5 fund was closed and transferred to Phase IV. Social Club Fund (restricted). Thi5 fund supports the work of Trinity Social Club which is a club organised by the PCC for people living in and around Tulse Hill who would like to get out and mix. Trinity Tots Fund (restricted). This fund supports outreach to those with very young children. Tulse Hlll Community Advice Centre Fund Irestrlcted) I"Tulse Hill CAC,). This fund supports the provision of community money advice. On 25 July 2017 the PCC became an Affiliate Member of Community Money Advice ICMA). CMA is a national charity committed to supporting churches and other communitygroups 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 Georgie Snyder. The aims of the Advice Centre are: (al 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 support them in dealing with their creditors; Ic) To empower local people by providing a place where they can find the information they need; and {d) To offer practical help from link5 With Acts 435, food from a parish larder and food from a local food bank. Vicarfs Discretionary Fund (restricted) {'VDF"). 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 21
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY & ST MAThHIAS, TULSE HILL Notes to the Flnanclal Statements For the year ended 31 December 2024 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 Church having originally been run in connection with the work of a full-time salaried Youth Worker who left on 31 August 2011. Occasional Funds. From time to time, the PCC also establishes one-off funds handling specific donations given for specific time-limited purposes. War Memorial Fund (expendable endowment}. This fund was administered by the Diocese of Rochester and Southwark acting as custodian trustee on behalf of the PCC. The PCC resolved to close this fund in 2024, the proceeds of which were transferred to be used towards our new memorial garden. 11. Related Party Transactions and Balances The PCC also met expenses incurred by some PCC members for church purposes, employment costs for I member or close associate12023: 1) and provided grants for I member of the PCC or close associates12023: 2024 2023 Donation from PCC members or Spouses 73,918 228,620 YetundeAkitundewasemployed bythe Pccwith total remumerationsof£ll,382 22