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2022-12-31-accounts

St Jude-on-the-Hill Hampstead Garden Suburb

Annual Report and Financial Statements of the Parochial Church Council for the year ended 31[st] December 2022

Charity No: 1133988

Address:

Central Square Hampstead Garden Suburb London NW11 7AH

Incumbent:

Post vacant The Vicarage 1, Central Square Hampstead Garden Suburb NW11 7AH

Bank:

Lloyds Golders Green Branch 8 Golders Green Road London NW11 8LJ

Independent Examiner:

Mr. J Graham 51, Sunningfields Road Hendon NW4 4RA

Parish of St Jude on the Hill – 1133988

Structure, Management and Governance

Background

St Jude-on-the-Hill is situated in Hampstead Garden Suburb, London. It is part of the Edmonton Area of the Diocese of London within the Church of England.

Governing documents

The Parochial Church Council (PCC) is a body corporate governed by two pieces of Church of England legislation, called Measures. These are:

The PCC is also a charity registered with the Charity Commission (Charity No: 1133988).

PCC membership

The Incumbent (our vicar), the Churchwardens, the Lay-Reader and the representative on the Deanery Synod are ex officio members of the PCC. Others are elected or co-opted by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.

During the year the following served as members of the PCC:
Incumbent Post vacant as St Jude’s is in an Interregnum
Churchwardens Posts vacant
Honorary Treasurer Post vacant
Honorary Secretary Post vacant
Licensed Reader Mr. Robert Chandler (retired 19 June 2022)
Representative on the Deanery Synod Mrs Elinor Delaney
Elected Members Mr David White (Vice Chair)
Mrs Jenny Eden (retired 19 June 2022)
Mrs Jessica Farmer
Mrs. Frances Price
Mrs Pam Yap (co-opted 9 March 2022, elected 19 June 2022
and resigned 5 December 2022)
Mrs Susie Gregson (co-opted 9 March 2022 and elected 19 June
2022)
Ms Nicole Alabaster-Berberian (co-opted 9 March 2022 and
elected 19 June 2022)
Mrs Antonia Clayden (co-opted 7 November 2022)
Mr Todd Alabaster (co-opted 9 March 2022 and elected 19 June
2022)

The PCC has a number of sub-committees that meet between full meetings. The Standing Committee has the power to transact the routine business of the PCC between meetings, subject to any directions given by the Council. It refers major decisions to the full PCC.

In addition, sub-groups have been formed:

Members of these groups are drawn from the PCC and the larger congregation.

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The full PCC held 8 meetings during the year (2021: 3 meetings). The APCM was held in person in St Jude’s on 19 June 2022.

The PCC conducted a Church audit using Survey Monkey as part of the Interregnum process and in conjunction with the Hampstead Garden Suburb Free Church, St Edward the Confessor Church and the Religious Society of Friends, the PCC conducted a Community Audit using Survey Monkey across the whole of the Parish boundary and those parts of Hampstead Garden Suburb that are outside the Parish boundary. The results of both audits helped create the Parish Profile which was submitted to the Diocese before the end of 2022.

As part of the Interregnum process, the PCC passed a resolution unanimously expressing the view that the PCC had no objection to a woman being appointed either as the Priest in Charge or as a new incumbent.

Appointments and Retirements

As follows:

The PCC would like to express its thanks to all who served on the PCC.

On 4 May 2023, Rev Emily Kolltveit, was licensed as the Interim Priest-in-Charge of St Jude’s for an initial term of three years.

Aim and purpose

With retirement of the Incumbent, Revd Alan Walker on 31 December 2021 the PCC has the responsibility of promoting the mission of the Church within the parish of Hampstead Garden Suburb. It also has responsibility for the maintenance of the church, church grounds, Vicarage Rooms and other ancillary buildings.

Objectives and activities

Our mission is to celebrate and communicate the Christian faith in the Anglican tradition.

Public Benefit

When planning our activities, we have considered the Charity Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion.

At St Jude’s, we welcome all parishioners and visitors to participate in our worship and provide opportunities for those wishing to find out more about the Christian faith to do so. We offer baptism, confirmation, marriage and funeral services. We provide pastoral care for people living in the parish.

Our magnificent Grade I Listed building is generally considered to be Lutyens's finest church. It the only 20th Century church in London to feature in Simon Jenkins' highly acclaimed book, "England's Thousand Best Churches". We maintain our beautiful building and, in normal times, open it to the public to enjoy on Sunday afternoons throughout British Summertime and on Open House weekend. The PCC is pleased to welcome other visitors by arrangement and hosts visits from local schools and colleges as part of their study of religion or architecture. The executive summary of a report on the Church commissioned and paid for by Historic England in 2015 opens with the sentence: “St Jude’s Church is a building of national significance and is decorated with one of the most important and extensive schemes of early 20th century wall paintings in the country.”

St Jude's has a long-standing strong music tradition with organ scholars from The Henrietta Barnett School using our marvellous Father Willis organ for lessons and practice. Many organ scholars who have trained at St Jude's have gone on to organ scholarships at eminent universities and many former choristers have become professional singers. In 2014, the PCC launched a choral scholarship programme offering four scholarships to train young singers between the ages of 16 and 20 in each of the main choral parts (one each of soprano, alto, tenor and bass). Under this scheme, the choral scholars are introduced to a wide range of church music which helps those of them who wish to apply for choral scholarships at various universities. More recently the scholarships have been shared by two part-time scholars, with a view to attending alternating weeks (and together for all festival services), to enable scholars to be able to balance the commitment required to the scholarship programme with their academic studies and other music commitments. This has also enabled the scholarship programme to benefit more young people. We did receive funding for the choral scholarship programme from The Ouseley Church Music Trust. This funding has now been spent and we will be making a fresh application to the Trust in the coming weeks.

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We also support the Proms at St Jude’s (which raises money for Toynbee Hall and The North London Hospice through an annual musical and cultural festival) through the energy and vigour of our members and that of the wider community (of all faiths and none). The church is regularly let to recording and television companies due to its excellent acoustics and beauty. The Church Rooms are also used for activities run by external organisations within our community. The money raised from lettings of the Church and Church Rooms helps us to meet the costs of running the church, including the high costs of maintaining this wonderful building.

We celebrate the diversity of faiths within our community and have a strong relationship with the local Jewish community. The Central Square Minyan worships weekly in the Church Rooms and contributes to our Harvest collections of goods made for Homeless Action in Barnet. St Jude’s participates in the London Open House weekend(s) each year.

Achievement and Performance

Electoral Roll

The number on the Electoral Roll on 31 December 2022 was 119. (2021 – 121)

Church Attendance

Covid-19 restrictions were gradually eased in 2022 and all services were conducted live.

Average Church attendance on Sundays was 59 (2021: 40) NB Christmas Day 2022 was a Sunday.

Average attendance over the Christmas period was:

Advent Procession, Advent Sunday 92 (New service)

Nine Lessons and Carols 18 December 114 (Nine Lessons and Carols 2021: 39)

Christingle Service 24 December 139 (New service) (Christmas Eve Carol Service 2021: 65)

Midnight Mass 207 (2021: 80)

Christmas Day 91 (2021: 52)

Vicar’s Report (Incumbency vacant)

The pattern of worship during 2022 was restricted to the 10.30 Parish Eucharist on Sunday mornings and these services were made possible due to the support of retired clergy living locally and some invited clergy from out of Diocese.

Social distancing of seating was maintained until Easter. Hand sanitisers are available for the congregation and clergy had separate provision for sanitizing before the distribution of Holy Communion.

Joint services in partnership with the Hampstead Garden Suburb Free Church, the Society of Friends and St Edward’s RC Church were held for Christian Unity Week in the Free Church on 23 January 2022 and for Remembrance Sunday in St Jude’s on 13 November 2022.

There was no Ash Wednesday Eucharist with Imposition of Ashes, due to no clergy being available.

With the support of the Archdeacon of Hampstead a full programme of Holy Week services including Palm Sunday, said Eucharist on Monday, Tuesday and Wednesday and the full Triduum from Thursday through to Festal Eucharist on Easter Sunday. Attendance was increased.

In 2022 there was 1 baptism (2021: 2); no confirmations (2021: 2); 2 funerals (2021: 4); 1 wedding (2021: nil).

Holy Communion was taken regularly to the housebound.

A newsletter with notices and readings has been sent to the subscription list of 117 (2021: 92) subscribers, each week.

Throughout the year, St Jude’s has continued to collect food and other items for the ‘Childs Hill’ Foodbank (which serves the NW11 area)

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The Church remained open for quiet prayer and for inscribing in a Book of Condolence, during the period of mourning following the death of Queen Elizabeth ll.

Reader’s Report

St Jude’s had one licensed lay Reader, Bob Chandler, who had permission to officiate at the Church and undertook various duties associated with worship. Due to ill-health, Bob Chandler retired from this position during 2022 and became an Emeritus Reader in the Diocese. The post is currently vacant.

Readers and Sidesmen

The role of the readers is to read the first two lessons (Old Testament and New Testament) each Sunday. One reader reads each week, meaning that each reader reads approximately once every two months. Three new readers were recruited and approved by the PCC.

The Sidesmen are formally appointed by the PCC at the APCM.

Sidesmen are responsible for setting up the church before the Sunday Eucharist and welcoming the congregation, handing out hymn books and service sheets. They also have responsibilities for the smooth running of the service. Each Sidesman is required for duty approximately every four weeks. 2 new Sidesmen were recruited in 2022.

Safeguarding Policy

On the retirement of the Incumbent is was necessary to apply for the accreditation of a new Data Collector for the administration of the DBS checking procedures. Elinor Delaney was duly appointed by the Diocese as the Data Collector and the recruitment of a second Data Collector is being sought. All necessary DBS checks were renewed and the parish joined the Diocesan Safeguarding dashboard.

The PCC reviewed the Safeguarding Policy and re-endorsed the wider Diocesan policy that encompasses Vulnerable Adults as well as Children. We are committed to ensuring that our Church and its community is a safe and welcoming place for all members of the community.

The Safeguarding Officer consults with the Safeguarding Team, where necessary and promptly reports any dialogue to the PCC, within the bounds of confidentiality. No incidents were reported in 2022.

The PCC and the Safeguarding Officer have taken steps to ensure that the lessees of the Church Rooms have a suitable Safeguarding Policy and that all agencies who hire the church are furnished with and agree to the church Safeguarding Policy.

An accident book is maintained to record any accidents occurring on the premises.

Church Magazine

The Church magazine has now been replaced by the on-line Newsletter. This is currently produced by the Acting Secretary to the PCC assisted by the Administrator. Notices are posted weekly in the church for those who do not have access to on-line activities.

Communication and Publicity

The parish Newsletter is distributed weekly to a growing database (see Church Magazine above).

The website has been updated and a Facebook posting is made weekly. Access has also been acquired to various local WhatsApp groups which increases the publicity footprint. The Church noticeboards are changed regularly.

Junior Church

Following the pandemic , no children have enrolled in Junior Church.

Steps were taken to make links with the local schools and a school visit (90 children) was arranged and the choir of the same school attended the Christmas tree lighting ceremony to sing carols.

A Christingle service for families and children was arranged for the first time in 2022 on Christmas Eve. A congregation of 107 attended with 32 children.

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Flower arrangers

The members of the Flower Rota have continued to provide arrangements every week as required. We have almost returned to pre-covid ways. We hope the congregation appreciates our different styles. We have sadly lost members mostly through infirmity but are happy to have welcomed two new members. We are always looking for new volunteers for what is a very pleasurable task. The PCC is very grateful for the work put in by Anthea Davidson and her fellow volunteers.

Coffee rota

Since the pandemic came to an end, the coffee rota has restarted and we have managed to serve coffee after the Sunday eucharist for almost a whole year. It is no mean achievement since the number of people willing and able to do so has decreased. We have achieved this each week with only one person on duty but plenty of willing helpers joining in to help out both serving and tiding up. Everyone is very grateful. On average 30-40 coffees/teas were served and parishioners have generously donated the biscuits and cakes served. Coffee, tea and sugar are supplied by the church. Takings have varied from £7 to £20 each Sunday.

Stewardship Report

We would like to thank all those who continue to donate to St Jude’s, by regular monthly giving or through the weekly congregational collection.

St Jude’s uses the Parish Giving Scheme, whereby all Gift Aid is recovered by the administrators of the scheme and passed over to the church, which greatly reduces the administrative burden of stewardship.

There were 27 regular contributors to the Parish Giving Scheme during the calendar year ending 2022 who donated £17,612 on which £4,320 of Gift Aid was recovered, thereby giving a total of £21,932 for the year.

Gift Aid totaling £5,733 plus interest was recovered for the year ending December 2018 when donations were made directly into the church bank accounts.

A claim for Gift Aid under the Small Donations scheme (amounts donated in the weekly collection) has been submitted for tax years ending April 2021 and April 2022 on donations totaling £5,244 which should recover £1,311 of gift aid. As this claim has just been lodged, the PCC have decided that the tax refund will be accounted for in the 2023 accounts.

The PCC would like to record its thanks to Antonia Clayden who has taken over the Stewardship role and has now successfully reclaimed Gift Aid for the benefit of the Parish where none had been claimed for several years. Under the arrangements made between the PCC and Antonia Clayden, she will receive a commission of 10% of the recoveries made.

Church Rooms

Rent has continued to be received from the Central Square Minyan and shared with Hampstead Garden Suburb Trust. The documenting of both the informal extension of the lease which expires in November 2023 and the formal 10-year extension of the lease on the same terms but with a mutually exercisable break clause at 5 years has yet to be completed. This should secure St Jude’s income from the Church Rooms through to 2035.

Church Fabric

The PCC has continued with its regular programme of maintenance which includes:

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Storm Eunice damaged some of the roof tiles near the apex of the roof to the west of the brick tower and an insurance claim for the repairs has been agreed. The repairs will finally take place in the second quarter of 2023.

The Restoration of the Church

As we reported last year, work to restore the building is being carried out as funds permit. The final bill for the works undertaken on the brick tower during 2021 was settled early in 2022 and as a result, St Jude’s has been able to commence work on the rainwater drains on the East, West & South sides of the Church. Despite extensive surveys, St Jude’s contractors have been unable to locate the rainwater drains on the North side of the Church. The rainwater drains on the South & West sides of the Church have been renewed and that has had the beneficial result of preventing further flooding to the basement areas despite the heavy rain during 2022. The works to the East of the Church will be completed during the first half of 2023. The PCC would like to acknowledge their formal thanks to Hampstead Garden Suburb Trust for their generous grant of £15,000 towards the costs of the drainage works.

The pumping system for the basement lavatories failed completely during 2022 with the result that those lavatories have been out of action for part of 2022. A grant application has been lodged with Hampstead Garden Suburb Trust to cover the replacement of the pumping system and related works with a view to carrying out the works in the first half of 2023.

Guyana Diocesan Association “GDA”

St Jude’s continues to support the Church in Guyana and specifically the church of St John the Evangelist, Jawalla with prayers and an annual donation. Since the demise of the GDA, St Jude’s has established that these funds can be distributed safely via the United Society for the Propagation of the Gospel, ear-marked for Guyana. The donation for 2022 still awaits payment. £917 are accrued for payment from a restricted reserve fund.

Church Lettings

The church continues to be regularly rented for rehearsals, recordings and filming.

There were 41 bookings during 2022 ranging from one day to twelve days (2021: 27 bookings). The annual fee income of £73,042 (2021: £56,741) was up from the previous year. This was a record year for fee income. There were 94 hire days in 2022 (2021: 83 days). The average daily hire rate increased from £680 to £785. As there are many different hirers, the risk of a major downturn in our lettings is reduced. Income for the first quarter of 2023 is slightly up on last year.

Key to the success of our bookings are the wonderful booking team volunteers who usually open the church, meet and greet the hirers and help them with any problems they may have. It cannot be stressed enough how important a lovely welcome from a volunteer is to the whole hiring process and often messages received after a hire specially mention how the warm welcome and helpful attitude have enhanced their time in the church. The time our volunteers give is therefore of great significance to the income the church receives. Now that we are fully open again after the pandemic, please consider if you might be able to help in this way and have a chat with Susie or one of the members of the booking team. The PCC would like to thank all those who form part of the booking team: Antonia Clayden, Elinor Delaney, Sara Gibbins, Anthea Davidson, Kathy Cunnold, John Wheeler, Pam Yap and Roger Wilson.

Music at St Jude’s

Music has always been at the heart of the liturgy at St Jude’s. We have a magnificent Father Willis organ and, as our church is situated next door to The Henrietta Barnett School, we established a formal musical educational link with the school in 2004 with the provision of organ scholarships. This scheme has been a great success with many of the holders of the organ scholarship pursuing organ playing and music as a career. Our scholars have gone on to hold music scholarships at Merton, Hertford and University College, Oxford, Gonville and Caius College, Cambridge and Trinity Hall College, Cambridge.

We have a new organ scholar, Jennifer Jin, and she passed her grade 8 organ exam with distinction in December 2022. Jennifer is currently preparing for her Associate Diploma from The Royal College of Organists. Our most recent former organ scholar, Jocasta Bird is completing her second year as organ scholar of University College, Oxford. She returns regularly to play at St Jude’s. Anna Steppler (organ scholar 2008-2010) has just completed her Doctorate in organ playing in the 18th Century at Cornell University, New York. Anna is to become a Junior Research Fellow at Peterhouse College, Cambridge in organ studies from September 2023.

In addition to the organ scholarships, we now offer up to eight part-time choral scholarships with up to two voices for each part to allow scholars to balance their commitments to this programme with their other academic and musical commitment.

We are very pleased that in 2017 the Ouseley Church Music Trust awarded the church a grant to cover one third of its costs from

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the choral and organ scholarships over the following three years. The cost of tuition for the organ scholarships is further shared with The Henrietta Barnett School and the parents. We intend to apply for a further Ouseley Trust grant and we hope that the success of the scheme so far, will lead to an award from that trust.

The presence of this core of choral scholars within our choir further encourages and supports additional young people to sing with us. We believe in opportunities for all and, whilst we have just a small number of choral scholarship positions, this programme enables us to enhance the sight-reading capabilities and performance standard of all singers in our choir.

The choral scholars’ role includes supporting the junior singers in the choir as well as performing regularly as soloists in our weekly sung Sunday Eucharist and at our festival services.

We have already had successes with the new choral scholarships: our former choral scholars now hold choral scholarships at Merton College, Oxford, Trinity College, Cambridge and Queen’s, Jesus and Gonville and Caius College, Cambridge. Our current choral scholars have choral award offers and places at Merton College, Oxford, Trinity College, Cambridge and Manchester University.

The choir has emerged from the pandemic stronger than ever. With 5 permanent choral scholars and 12 adult members, the choir is now singing more challenging repertoire and in 2023 completed a successful sequence of Holy Week and Easter services. On Easter Sunday we performed Vivaldi’s Gloria liturgically with orchestra. This serviced marked 20 years ’ service of Organist and Director of Music, Nicholas Chalmers

Financial review for the year-ended 31st December 2022

Summary

In 2022, St Jude’s generated an overall net surplus of £11,407 of which £4,542 was a Restricted Funds surplus and £6,865 Unrestricted and Designated Funds Surplus.

With the retirement of Fr Alan Walker at the end of 2021 the Parish entered an Interregnum for which a Dedicated Sequestration Fund was created. Designated to record the cost to the parish of the fees of visiting (e.g. retired) clergy to maintain church services and other expenses that the parish can claim back from the diocese once the interregnum ends, this fund has an end of year deficit of (£2,026).

At the start of the year the Tower Repointing & Restoration Fund was closed when costs and income balanced, with an outstanding liability of the £20,000 loan from the Diocese of London to be covered by future general fund-raising activities. This loan is to be repaid over 25 months starting in August 2022, reducing this liability to £16,000 at the year’s end. Any additional contributions to this fund, which includes some yet to be recovered gift aid, have now reverted to the Restricted Restoration Fund in line with the appeals advertised aims. A plaque will be erected in the church thanking those donors who gave £200 or more and the costs of that plaque will be borne by our unrestricted funds.

The Restricted Restoration Fund bore the cost of works to restore the ground gutters and rainwater drainage supported by a grant from the Hampstead Gardens Suburb Trust. It increased in value by £5,283 primarily due to a legacy from a will. A further £8,725 was used from the Dedicated Restoration Fund mainly to fund additional investigation and works on the incomplete rainwater drainage system.

Income

Incoming resources from generated funds £180,617 (£387,328 in 2021)

General (Unrestricted) Income

Voluntary income through the Parish Giving Scheme (PSG), plate collections, church boxes and donations (which this year includes unassigned contactless card payments), increased to £31,096 (£28,640 in 2021).

Previously reported difficulties reclaiming multiple years of Gift Aid income have been largely resolved by the appointment of a new Stewardship Officer. Recoverable Gift Aid Income (plus interest) from years prior to 2019 added to the general fund by £5,868. With further Gift Aid income from years to 2022 and from the Gift Aid Small Donations Scheme planned to be recovered in 2023.

We were grateful to receive a one-off grant toward heating cost £2,641 from the London Diocesan Fund.

The Autumn Market was able to return in 2022 and generated income of £1,761.

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The income from Church Lettings increased strongly on the back of increased bookings to £73,042 (£56,741 in 2021).

Lettings of the Church rooms generated £23,263 (£19,773 in 2021), this sum being net of the rent share and ground rent payable to Hampstead Garden Suburb Trust. These are both shown in expenditure in 2022. In previous years, the rent passed to HGST has been netted off from the income with only the ground rent of £5 showing in expenditure. As a result, the income and costs show as £40,533 and £17,269 respectively in 2022 compared with the income and costs showing as £19,778 and £5 respectively in 2021.

Investment income from interest and dividends generated £243(£206 in 2021).

The Restoration Fund (Restricted) Income included a £15,000 grant by the Hampstead Garden Suburb Trust for which St Jude’s PCC is very grateful, VAT recoveries under the LPOW scheme £3,432, a Legacy donation of £5,002, and a regular monthly donation.

Other Restricted funds included the donations made toward Fr Alan Walkers retirement, further collections added to the Guyana Fund, and other charities totalled £1,811.

Incoming resources from charitable activities £1,051 (£1,474 in 2021)

These being parish fees for baptism, wedding and funeral services.

Other incoming resources £4,432 (£13,336 in 2021)

These include an insurance claim for the removal of graffiti (£2,987) and the sale of surplus and damaged chairs (£1,445).

Expenditure

Costs of generating funds £10,657 (£6,353 in 2021)

Church Bookings incurred costs of£7,835 (£3,683 in 2021) for the Church Bookings Managers contracted fee and increased bonus, on the back of strong church lettings this year, and other sundry costs such as additional cleaning.

Since 2012, a booking manager’s bonus has been payable due to the significant levels of Church lettings achieved. The bonus is 10% of letting income over £25,000 over a financial year.

Costs of stewardship £573 (£nil in 2021) includes the amount due to the Stewardship Officer from the successful Gift Aid reclaim for the period prior to 2019.

Costs of other events £2,219 (£nil in 2021) were the individual donations made on the occasion of Fr Alan Walkers retirement £1,375), together with the cost of parish gifts given and refreshments provided at their presentation (£844).

Cost of Charitable Activities £163,742 (2021: £400,697)

Of which:

Cost of Restricted Funds £19,511 was primarily planned works on ground gutter & drainage restoration (£327,936 in 2021)

Cost of Designated Funds £10,751 was primarily additional works needed for drainage restoration together with clergy expenses for visiting clergy (£1,906) and for vicarage costs (£119) during the Interregnum (£nil in 2021).

Cost of unrestricted funds £133,480 (£72,760 in 2021) reflects the balance of costs incurred as described below.

Giving to third parties

Giving to third parties includes the giving of monies received for lent lunches and for Guyana and other sundry charitable giving. However, the main components of these costs are the costs of the choral scholarship £2,833 (£3,137 in 2021) and the organ scholarship £467 (£nil in 2021). The majority of these costs were borne from unrestricted funds as the Ouseley Music Trust Fund has now been fully used.

Giving to the Diocese

A top up contribution to the Diocesan Common Fund increased costs of £12,000 in 2021 to £27,000 in 2022. Statutory fees due to the diocese for 2022 were £644 in respect of funeral services held at the church and crematorium (£136 in 2021).

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Costs of parish services and administration

Sanctuary and Church Flowers £528 (£395 in 2021).

There were no Vicar’s expenses in 2022 due to the interregnum.

Music costs were £12,611 (£9,351 in 2021). This is in addition to the combined choral and organ scholarship costs of £3,300 (£3,137 in 2021) noted above. The organist’s fees increased from £7,400 to £8,900 pa – the last increase was in 2019. Other choir costs include paid professional voices and musicians for key services £1,475 (£725 in 2021) and the RSCM annual subscription (£70), as well as organ and piano tuning £1,223 (£896 in 2021) and repairs £1,013 (£330 in 2021).

General Administration increased to £2,647 (£254 in 2021). The increase in cost arose because the Diocese required St Jude’s to conduct both Church and Community audits to establish future needs as part of the Interregnum process.

The cost of the Parish Administrator was £9,478 (£7,492 in 2021). The increase reflects a full year of our administrator salary following an increase in hours worked since July 2021.

Other Administrative costs of £5,099 (£8,895 in 2021) include: office stationery and equipment, IT support contracts, parish advertising and marketing, bank charges and regular social and catering. (2021 costs included works to the Wi-Fi System funded by the Government’s cultural recovery fund)

Church utilities cost £20,726 (£8,889 in 2021). This increase (in part forecast last year) was mainly due to the significant (£10,637) increase in the cost of Church heating (gas). Electricity prices have also risen but not by the same amount. These increases, despite government subsidies, were the result of the energy crisis and the conclusion of St Jude’s fixed term agreements for both gas and electricity ending in late 2022. St Jude’s has taken steps to reduce gas usage by installing a new time clock to control the boilers.

Regular Church cleaning cost £1,947 (£1,999 in 2021).

Upkeep of the Church grounds cost £4,480 (£3.981 in 2021). The minor increase due to a correction to a returned payment.

Church insurance cost £13,401 (£14,621 in 2021).

The cost of maintaining the audio system £1,221 (£25 in 2021) includes some repairs and upgrades.

General cost of Church maintenance was £13,751 (£23,191 in 2021). In addition to regular maintenance activity, the costs included an upgraded boiler timer to reduce usage, the removal of graffiti (covered by an insurance claim), securing the Tower against pigeon infestation, clearance of damaged furniture from the church, and transfer of the Church Archive from the Vicarage Rooms to the church.

Renovation Works - Major structural repairs £19,542 (£303,685 in 2021) and maintenance projects £8,646 (£nil in 2021) With work on the tower completed in 2021, work on the ground gutters and the rainwater system commenced in 2022 funded mainly by grants from the Hampstead Garden Suburb Trust. These initial structural repairs revealed some missing drainage runs and substantial repairs requiring further project surveys to devise a solution (£7,824). Plans were drawn up for library shelving in the upper vestry which, ultimately, were not followed through as St Jude’s had sufficient bookcases stored in the vicarage (£822). This work was funded from restricted funds (£18,642), designated funds (£8,724) and general unrestricted funds £822.

Costs of runnin g the vicarage rooms were £330 (£2,175 in 2021). The costs have fallen significantly as, following the retirement of Alan Walker, the flats were transferred back to the Diocese in the 2nd quarter of 2022.

Costs of running the Church Rooms include this year the share of the rental income paid to the HGST (£17,264) as well as the ground rent (£5) and insurance costs £979 (£1,069 in 2021). The insurance cost is recharged to Central Square Minyan who use the building.

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Reserves Policy

It is PCC policy to maintain a balance on unrestricted funds excluding the balance attributable to the Fixed Assets (if possible) equal to approximately three months’ unrestricted payments, to smooth cash flow fluctuations and to cover emergency situations that may arise from time to time.

At the end of 2022 unrestricted liquid reserves (after allowing for future liabilities) amounted to £28,715 (£10,807 in 2021). This is broadly equivalent to 2.5 months’ unrestricted payment (when the HGST share of the rental income is excluded from expenditure). It is not intended to reduce the reserve significantly below the level equivalent to approximately three months’ unrestricted payments and the PCC works hard to maximise its income despite the challenges.

It is our policy to invest funds not required for day-to-day expenses with the CBF Church of England Deposit Fund.

Legacies Policy

The policy of the PCC is to use legacies to help fund significant development projects in the parish, whether related to buildings, equipment or people. As circumstances change over the years, it may not be possible to fulfil specific donor requests, so church members are encouraged to leave legacies for the general purposes of the parish. The PCC will discuss with executors the most appropriate use of any legacy in the light of current projects and the donor’s known interest in the church (e.g. children, music, buildings).

Risk Management

1. Financial risk

Large unpredictable risks, which can be insured, are shared with the Ecclesiastical Insurance Group.

Predictable, large but uninsurable risks identified include:

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Minor, low impact financial risks are absorbed within normal expenditure.

2. Reputation Risk

The PCC is committed to positive, constructive dialogue with all parties having an interest in its decisions and activities.

Both the church and church rooms have been made available and are used regularly for a diverse range of events and activities, to raise the profile of the church beyond its worshipping members and to make a positive commitment to the broader community.

3. Compliance

The PCC is conscious to ensure that it meets all its compliance requirements. To this end it regularly reviews and responds to information from Diocese, conscientiously completes its annual returns to Diocese and Charity Commission and ensures policies for safeguarding all the vulnerable members of our community as well as Health and Safety Regulations and Data Protection requirements are regularly reviewed and monitored.

4. Operational Risk

Failure to fill vacant positions in a timely manner may impact our ability to cover current operational requirements. Since 2020, the PCC has employed a part-time Parish Bookkeeper / Administrator to support the volunteer members of the PCC in maintaining the financial accounts and assist in day-to-day administration within the parish. This role has relieved the PCC of some of the administrative burdens of running the parish and the PCC hopes that, in time, the currently vacant roles of Churchwardens, Honorary Treasurer & Honorary Secretary will be filled from within the congregation.

5. Dwindling congregation

The PCC is conscious that its future depends on growing and strengthening its membership. Strategies are being developed and followed to strengthen existing membership and to increase the congregation and this will be a key focus for a new Priest in Charge. The PCC are however pleased to note that average attendance has increased throughout 2022. On 4 May 2023, Rev Emily Kolltveit was licensed as the Interim Priest-in-Charge for an initial term of three years.

Trustee expenses

No trustee received any payment of expenses, other than reimbursement of proper expenses of the church.

Approved by the PCC on 10 May 2023 and signed on their behalf by

M D White (PCC Vice-chairman)

The following 10 pages showing the Statement of Financial Activities, Balance Sheet and Notes to the Accounts form part of this Annual Report and Financial Statement.

12

Parish of St Jude on the Hill – 1133988

Statement of Financial Activities

For the period from 01 January 2022 to 31 December 2022

Notes Unrestricted Restricted Endowment Total Prior year
funds funds funds funds total funds
2.Incoming resources
Incoming resources from generated funds
2a.Voluntary income 39,607 24,054 — 63,662 310,502
2b.Activities for generating funds 115,336 1,375 — 116,711 76,618
2c.Investment income 243 — — 243 207
2d.Incoming resources from charitable activities 1,051 — — 1,051 1,474
2e.Other incoming resources 4,432 — — 4,432 13,336
Total income 160,671 25,429 — 186,101 402,138
3Resources used
Cost of generating funds
3a.Cost of generating voluntary income 8,438 — — 8,438 3,683
3a.Fundraising trading cost of goods sold and other 844 1,375 — 2,219 2,670
3b.Charitable activities 144,231 19,511 — 163,742 400,697
Total expenditure 153,513 20,886 — 174,400 407,050
Gains / losses on investment assets (293) — — (293) 310
Net income/ (expenditure) resources before transfer
 6,864 4,542 —
 11,407 (4,601)
5.
Transfers
Gross transfers between funds - in — — — — 61,333
Gross transfers between funds - out — — — — (61,333)
7. Other recognised gains / losses
Gains on revaluation, fixed assets, charity's own use — — — — (4,969)
Net movement in funds 6,864 4,542 — 11,407 (9,570)
Reconciliation of funds
Total funds brought forward 279,949 34,552 — 314,501 324,072
Total funds carried forward 286,813 39,095 — 325,908 314,501

13

Parish of St Jude on the Hill – 1133988

Balance sheet (Church of England)

As at: 31 December 2022

As at: 31 December 2022
As at 31/12/2022 As at 31/12/2021
£ £
Fixed assets
Tangible assets 250,000 250,000
Investments 2,188 2,482
252,188 252,482
Current assets
Debtors 9,741 62,087
Cash at bank and in hand 91,498 60,219
101,239 122,307
Liabilities
Creditors: Amounts falling due in one year 21,119 44,288
Net current assets less current liabilities 80,120 78,019
Total assets less current liabilities 332,308 330,501
Liabilities
Creditors: Amounts falling due after more than one year 6,400 16,000
Total net assets less liabilities 325,908 314,501
Represented by
Unrestricted
Unrestricted - General fund 28,715 10,807
Designated
Designated - Central Heating fund - designated 4,011 4,011
Designated - Investment 2,188 2,482
Designated - Property Revaluation 250,000 250,000
Designated - Renovation Project - designated 3,925 12,648
Designated - Sequestration Fund for Interregnum (2,026) —
Restricted
Restricted - Centenary fund 2,171 2,171
Restricted - Other sundry restricted 59 (59)
Restricted - Renovation project 28,146 23,071
Restricted - Sanctuary fund 2,134 2,134
Restricted - Starmer fund 5,000 5,000
Restricted - Vicar's Discretionary fund 1,585 1,591
Restricted - Guyana — 598
Restricted - HGST fund - project — (70)
Restricted - Ouseley Church Music Trust — 115
Funds for the church 325,908 314,501

Approved by the PCC on 10 May 2023 and signed on their behalf by

M D White (PCC Vice-chairman)

14

Parish of St Jude on the Hill – 1133988

The notes on pages 15 – 22 form part of these accounts

Notes to the Accounts

1. Basis of Preparation

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the SORP 2015 (FRSSE). They have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value, and the Church Rooms, which are shown at a prudent estimate of their current market value.

The accounts 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 their main affiliation to another body or those that are informal gatherings of church members.

Accounting policies

General Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for the general purposes of the PCC. Funds that the PCC chooses (but is not obliged) to designate are regarded as unrestricted.

Restricted funds represent donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund.

Income

Voluntary Income and Capital Sources

Receipts are recognised gross in the month in which they are received. No account is taken of pledged income until the pledge is fulfilled.

Other Income

Rental income from the letting of church premises and from the Church Rooms is recognised when the rental is due.

Income from Investments

Dividends are accounted for when due and payable. Interest entitlements are accounted for as they are accrued.

Gains and Losses on Investments

Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are recognised on revaluation on 31[st] December.

Tax refunds

Tax refunds are recognised when the incoming resource to which it relates is received.

Donated goods and services

Where the value of any donated goods received by the PCC are capable of being measured reliably, then such donated goods are accounted for when they are donated. As it is not practical to reliably measure the contribution of volunteers, no recognition is made of these donated services in the accounts.

Expenditure

Expenses are recognised when incurred; the Common Fund recognised when due. Refunds, when received, are treated as reductions in costs incurred, not as income. At the year-end, any amounts intended for the common fund but unpaid at 31[st] December would be provided for as an operational (though not a legal) liability and would be shown as a creditor in the balance sheet.

Fixed Assets

Consecrated and beneficed property of any kind is excluded from the accounts by Section 10(2) (a) and (c) of the Charities Act 2011. All expenditure incurred during the year, on consecrated or beneficed buildings is written off in the year incurred.

The church rooms are included in the accounts at a prudent estimate of their current market value. The PCC currently hold these rooms on a long lease with an original term 999 years. This valuation therefore represents an estimate of the amount

15

Parish of St Jude on the Hill – 1133988

that could be raised on assignment of the lease to a third party, allowing for any associated charge or deduction attributable to the freeholder, the Hampstead Garden Trust.

Other fixtures, fittings and office equipment

Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.

Items with a purchase price greater than £1,000 are included in the accounts at cost less depreciation. Depreciation is charged on a straight-line basis over two years, none charged in the year of purchase.

Investments

Investments are valued at market value at 31[st] December.

Net Current Assets

Amounts owing to the PCC at 31[st] December in respect of fees, rents or other income are shown as debtors less provisions for amounts that may prove uncollectable. Current account balances are reported net of any cheques issued but not yet presented. Deposits held on behalf of organisations are subsequently deducted. Cash balances are as reported in cashbooks, subject to independent examination. Stocks of consumables are written-off at the time of purchase.

2. Income

Parish Income comes from 5 areas:

16

Parish of St Jude on the Hill – 1133988

Analysis of income and expenditure Selected period: 01 January 2022 to 31 December 2022

Total
Unrestricted Designated Restricted Endowment This Year Last Year
Incoming resources
Incoming resources from generated funds
2a. Voluntary Income
0101 - Gift Aid - Bank 24,955 — — — 24,955 24,400
0110 - Gift Aid - Envelopes 506 — — — 506 535
0301 - Loose plate collections 4,814 — — — 4,814 3,126
0351 - Charity Collections — — 436 — 436 125
0410 - Giving through church boxes 67 — — — 67 70
0501 - One-off Gift Aid gifts — — — — — 684
0550 - Donations appeals etc 755 — 280 — 1,035 67,504
0601 - Tax recoverable on Gift Aid 5,868 — (25) — 5,843 —
0651 - Tax recoverable on GASDS — — (71) — (71) —
0701 – Legacies — — 5,003 — 5,003 2,000
08A1 - Non-recurring one-off grants 2,641 — 18,432 — 21,073 212,054
2b. Income from Fundraising Activities
0901 - Other funds generated 0 — — — 0 —
0910 - Annual church fair 1,761 — — — 1,761 —
0911 - One off fundraising events — — 1,375 — 1,375 56
0951 - Church lettings 73,042 — — — 73,042 56,741
1220 - Bookstall sales - fund raising — — — — — 14
1240 - Church room lettings - fund 40,533 — — — 40,533 19,778
raising
1280 - Social & Catering - fundraising — — — — — 29
2c. Income from Investments
1001 - Dividends 65 — — — 65 62
1020 - Bank and building society 178 — — — 178 144
interest
Incoming resources from 155,187 — 25,430 — 180,617 387,328
generated funds Totals
2d.Incoming resources from charitable activities
1101 - Fees for weddings and funerals 764 — — — 764 1,474
1270 - Social and Catering - objectives 287 — — — 287 —
Incoming resources from 1,051 — — — 1,051 1,474
charitable activities Totals
2e. Other incoming resources
1310 - Insurance claims 2,987 — — — 2,987 11,473
1320 - Surplus - sales of fixed assets 1,445 — — — 1,445 —
1399 - Exceptional items — — — — — 1,862
Other incoming resources Totals 4,432 — — — 4,432 13,336
Incoming resources Grand Totals 160,671 — 25,429 — 186,101 402,138

17

Parish of St Jude on the Hill – 1133988

3. Expenditure

Volunteers Time

For accounting purposes no monetary value is placed on the significant contribution PCC members, parishioners and the wider community make toward the running of the parish. The PCC remains most grateful for this generous contribution of time and knowledge by all parish volunteers.

Resources used Totals Totals
Unrestricted Designated Restricted Endowment This Year Last Year
3a. Cost of generating funds
1701 - Costs of Church lettings - booking manager 6,343 — — — 6,343 2,530
1702 - Cost of church lettings - cleaning 552
 — — — 552
 408
1703 - Cost of church lettings Licensing fee - 70 — — — 70 70
1704 - Cost of church lettings – other 900 — — — 900
 675
1720 - Costs of stewardship 573 — — — 573 —
1730 - Costs of fetes & other events 844 — 1,375 — 2,219 —
1735 - Cost of advertising fundraising events — — — — — 2,670
Cost of generating funds Totals 9,282 — 1,375 — 10,657 6,353
3b. Charitable activities
Giving to 3rd Parties
1801 - Giving to Guyana — — 937 — 937 (597)
1830 - Giving to Christian Aid — — (119) — (119) 119
1850 - Choral Scholarship 2,718 — 115 — 2,833 3,137
1855 - Organ scholarship 467 — — — 467 —
1860 - Other giving - to Christian
charities		 — — — — — 45
1870 - Other giving - to secular charities 96 — 6 — 102 445
Giving to the Diocese
1900 - Common Fund - regular payment 12,000 — — — 12,000 12,000
1905 - Common fund - top up 15,000 — — — 15,000 —
2000 - Statutory fees 664 — — — 664 136
Cost of Parish Services and Administration
2100 - Visiting clergy — 1,906 — — 1,906 —
2101 - Vicar's expenses - computer — — — — — 554
2102 - Vicar's expenses - other — — — — — 417
2103 - Vicar's expenses - post — — — — — 71
2105 - Vicar's expenses - stationery — — — — — 65
2106 - Vicar's expenses - telephone — — — — — 166
2107 - Vicar's expenses - telephone
mobile		 — — — — — 575
2108 - Vicar's expenses - travel — — — — — 206
2120 - Vicarage - water & sewerage — — — — — 406
2130 - Vicarage - decoration — — — — — (2,500)
2190 - Cost of flowers 108 — — — 108 141
2195 - Sanctuary costs 420 — — — 420 254
2210 - Organist 8,900 — — — 8,900 7,400
2220 - Organ / piano tuning 1,223 — — — 1,223 896
2225 - Organ / piano repairs 1,013 — — — 1,013 330
2230 - Choir costs 1,475 — — — 1,475 725
(cont.)

18

Parish of St Jude on the Hill – 1133988

Resources used (cont.) Totals Totals
Unrestricted Designated Restricted Endowment This Year Last Year
Cost of Parish Services and Administration (cont.)
2310 - Administration 2,527 119 — — 2,647 254
2311 - Parish Administrator - Gross pay 9,384 — — — 9,384 7,039
2313 - Parish Administrator - ER 94 — — — 94 47
Pension
2314 - Office equipment - not
capitalised		 54 — — — 54 —
2315 - Church email, internet and 1,354 — — — 1,354 8,006
broadband cha
2320 - Advertising - church activities 811 — — — 811 285
2330 - Bank charges 222 — — — 222 350
2360 - Social & Catering - regular 11 — — — 11 —
Cost of Church Building and Grounds
2401 - Church running - electric 3,706 — — — 3,706 2,538
2410 - Church running - gas 16,886 — — — 16,886 6,249
2420 - Church running - water 134 — — — 134 102
2430 - Cleaning 1,947 — — — 1,947 1,999
2440 - Grounds maintenance - monthly
gardening		 1,774 — — — 1,774 1,613
2445 - Grounds maintenance - hedge 2,706 — — — 2,706 2,368
cutting
2450 - Church running - Building insurance13,323 — — — 13,323 14,532
2455 - Church running - boiler 78 — — — 78 89
insurance
2710 - Church maintenance - audio 1,221 — — — 1,221 25
2720 - Church maintenance - fabric 13,751 — — — 13,751 23,191
2730 - Church maintenance - projects 822 7,824 — — 8,646 —
2790 - Church major repairs - structure — 900 18,642 — 19,542 303,685
2798 - Church interior and exterior
decorating		 — — (70) — (70) 70
2810 - Vicarage rooms - council tax 170 — — — 170 1,691
2815 - Vicarage rooms - electricity 32 — — — 32 34
2820 - Vicarage rooms - gas 128 — — — 128 231
2850 - Vicarage top flat - council tax — — — — — 72
2860 - Vicarage top flat - gas — — — — — 147
2910 - Church Rooms running - ground 17,269 — — — 17,269 5
rent
2940 - Church Rooms running - 979 — — — 979 1,069
insurance
Charitable activities Totals 133,480 10,751 19,511 — 163,742 400,697
Resources used Grand totals 142,762 10,751 20,886 — 174,400 407,050

19

Parish of St Jude on the Hill – 1133988

Staff costs

During the year the PCC employed a Parish Administrator:

Wages and salaries
Social Security costs
Employer’s contribution to NEST defined contribution scheme		 2022
2021
£
£
9,384
7,039
0
0
94
47
9,478
7,086

There are no employees who received employee benefits (excluding employer pension costs) of more than £60,000 and there were no employees whose total employee benefits (excluding employer pension costs) were greater than £10,000.

Payments of costs and related party transactions

During the year some PCC members and parishioners met the expenses of the Church from their own account in order to ensure swift and efficient service delivery. These expenses were approved in advance and were reimbursed by the PCC.

The members of the PCC are drawn from the local community and it is therefore inevitable that transactions will take place with organisations with which a member of the PCC has a connection. All transactions involving such organisations are at arm’s length and in accordance with the PCC’s normal procedures.

Susie Gregson, the Bookings Manager, is a member of the PCC and she is entitled to receive a monthly retainer of £200 and a bonus of 10% of the excess over £25,000 in recording income in each 12-month period ending on 31 March. The bonus payable to March 2022 was £3,943 (£476 in March 2021 when bookings were down due to the health pandemic). Strong bookings in the remainder of 2022 and to 31 March 2023 will result in a bonus of £5,094 in the 2023 accounts.

Antonia Clayden, the Stewardship Officer, was appointed on 7 November 2022 and co-opted to the PCC on the same day. Under the terms of her appointment, she is due to receive a 10% commission on the Gift Aid recoveries made. The 2022 accounts include an accrual of £573 in respect of recoverable amounts agreed by HMRC in 2022 but not paid over until 2023.

The Rev Alan Walker retired on 31 December 2021 and early in 2022, a collection was arranged to mark his retirement raising a total of £1,375 which was passed on to him in full. A reception was held for him and he was presented with a commemorative album of photographs of St Jude’s. The total cost of the reception and the presentation was £537, and St Jude’s holds a copy of the commemorative album in its archives (£307).

Proms at St Jude’s is a separate charity which operates an annual music and cultural festival using church facilities, for which it pays rental. Members of the PCC play an active part in the organisation of this festival.

4. PCC member’s insurance

In accordance with normal commercial practice the PCC has insurance to protect PCC members from claims arising from wrongful acts occurring whilst carrying out his duties as a PCC member. The insurance provides cover up to £100,000 during any period of insurance. This is part of the normal cover provided by the insurance company, Ecclesiastical, and the cost is included within church buildings insurance.

5. Transfers between funds

There were no transfers made between funds in 2022.

6. Tangible Fixed Assets

This is the valuation of Church Rooms (£250,000).

20

Parish of St Jude on the Hill – 1133988

7. Investment

Valuation:
At 1 January
Gain (loss) taken to revaluation
reserve
At 31 December		 2022
2021
£
£
2,482
2,172
(293)
310
2,188
2,482

This investment is held with CBF Church of England Investment Fund and forms the Spalding Trust which was created to maintain the external Calvary.

8. Debtors

General Designated Restricted Endowment Total Last year
Current assets - Debtors
6570 : Amounts owed by HMRC 25 — — — 25 260
6580 : Accrued income 9,562 — 154 — 9,716 61,827
Total 9,587 — 154 — 9,741 62,087

Accrued general income includes £5,869 in Gift Aid and interest from HMRC, £1,855 from Church lettings, £1,004 of Church Rooms insurance costs, which were invoiced after the year end, and £931 from the collection plates over Christmas 2022.

Restricted accrued income of £154 is the Christingle collection for giving to Guyana.

9. Liabilities – amounts falling due within one year

General Designated Restricted Endowment Total Last year
6601 : Loans received 9,600.00 — — — 9,600.00 4,000.00
(due within 1year)
6650 : Accruals 5,249.43 150.00 987.31 — 6,386.74 35,154.88
6660 : Deferred Income 5,133.19 — — — 5,133.19 5,133.19
Total 19,982.62 150.00 987.31 — 21,119.93 44,288.07

General and designated accruals include choir costs from the Michaelmas term and the Christmas season, the Stewardship Officer’s commission, contractors’ invoices and sequestration costs.

Restricted Accruals include amounts due to Guyana and Christian Aid.

Deferred income reflects the net value of the prepayment of rent in December 2022 for use of Church rooms until 24 February 2023.

10. Liabilities - Creditors: Amounts falling due after more than one year

6602 : Loans Received (due in 6,400 — — — 6,400 16,000
more than 1 year)
Total 6,400 — — — 6,400 16,000

Nominal Codes 6601 and 6602 show the ongoing schedule for the repayments of the Diocese of London loan for the Tower Repointing and Restoration. The liability for which has been transferred to and is being paid from General funds in 25 monthly payments from August 2022.

21

Parish of St Jude on the Hill – 1133988

11. Notes on Funds

Notes on funds not previously detailed.

Restricted Funds:

The Centenary Fund was established following an appeal towards the costs of repair and improvement projects connected with the roof, mural conservation, disability compliance, window restoration, organ work, floodlighting, upgrading or renewing internal lighting and restoring the marble.

Other Sundry Restricted Funds record the collection and giving of donations restricted to nominated 3[rd] party charities and funds, examples this year being Christian Aid, Homeless Action Barnet, The Bishops of Edmonton’s Discretionary Fund.

The Restricted Restoration fund was established in 2015 to meet the wider costs of restoring the church.

The Sanctuary fund reflects the balance of a legacy made to fund works connected with the Sanctuary.

The Starmer fund represented a £5,000 legacy that was received during 2018 which has been reserved as requested for works associated with the restoration of the Walter P. Starmer Murals.

The Vicar’s discretionary fund is for use at the discretion of the Vicar. Following the retirement of Rev Alan Walker on 31 December 2021 and the subsequent licensing of Rev Emily Kolltveit as Interim Priest-in-Charge of 4 May 2023, the PCC will hold discussions with Rev Emily Kolltveit about what to do with this fund.

Designated Funds:

The PCC has previously designated funds for use on the required central heating improvements and to supplement the restricted restoration fund. A new designated fund was established in 2022 in relation to the sequestration costs during the interregnum – such funds being recoverable now that the vacancy has been filled by the installation of Rev Emily Kolltveit as Priest in Charge on 4 May 2023.

12. Roundings

The figures in these accounts may be subject to minor arithmetic variation due to rounding of pence in the ledgers.

_________ END

(Independent Examiners Report attached )

22

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