PAROCHIAL CHURCH COUNCIL OF
HOLY TRINITY CHURCH, WALLINGTON
{A Church ol England Parosh Church)
Registered Charity Number-. 1134076
AMNUAL REpoirr AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023
PAROCHIAL CHURCH ANNUAL MEETING
MONDAY 22 APRIL 2024 7.30 P•m.
HOLY TRINITY CHURCH
IILIP,F¥
11

2023
PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Chur¢h of England Parish Church)
RegisleTed Offlce..
Maldon Road. Wallington, Surreyp SM6 8BL
Telephone.. 020 8647 7605
Email.. info
ht¢hurch.uk
htt '.Ilhlchurch.ukl
Registered Charity No. 1134076
In¢umbèn*
Reverend James Hills
Curate
Reverend Harry Frost
Members of the Pafochial Church Counell (Trustees)
(Ex Officiol
Reverend James Hills
(Ex Offlclol
Reverend HaTry Frost
(Ex Officiol
Mrs Jackie Passmore
(Ex Offlclol
Mr Anthony Reeves
Mr5 Val Blean
Mrs Megan Carknight lunlll 23 Aprll 20231
Miss Christine Cole
Dr Val Collinglon
Mr Paul Davies lunlil 23 April 20231
Miss Hannah French
Mr Nathan Jones.
Mr James Miller Ifrom 23 April 20231
Mr Tokunbo Ogunnaike
Mr5 Edn8 Sawyerr
Mr Jeff Scanllebu
Mr Neville Shaw
Mr lan Smith"
Mr Steve Smith Ifrom 23 April 2023}
Mr Roy Yip (until 23 April 20231
Chair
Curate
Warden
Warden
Deanery s￿0d Represenlalive
Indopendent Exam5ner
Sam Thomas BA FCA
Azets, Chartered Accountsnts
Trinity Court, 34 West Street, Sutton, Surrèy. SM1 1 SH
Bankers and deposit holders
Barclays plc
Leicester LE87 28B
Sanlander PLC
BBAhA Bridle Road. Boolle. Merseyside. L30 4GB
CCLA Investment Management Ltd
The CBF Chuich of England Funds
Senator House, 85 Queen Vlctorta Street, London. EC4V 4ET
Page 1

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023
CONTEMTS PAGE
Pa9e
Trustees. Annual Report for year ended 31st December 2023
10
Independent Examinerfs Report
Slalement of Financial A¢livilies
Balance Sheet
statement of Cash Flows
14-23
Notes lo the Financial Statements
Page 2

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
{A Church of England Parish Church)
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31st DECEMBER 2023
Chair's Report
Life for many in the UK and in Wallington in 2023 has been a struggle in a post-COVID world that is
increasingly challenging, hostile and broken with wars raging, living costs spiralling and services
Creaking under the strain. Therefore, as a charity and church cornmunily who rely almost entirely upor>
volunteers giving ol their time and finances, you woukl think a bleak picture emerges. Bul this year, like
so many before, we have known tho truth of God that the Psalmist expresses, "Butyou, Lord, ar8 a
compas&onate and gracious God, slow to anger, abounding love and faithfuln8ss." {Psalm 86.'15) We
give thanks lo God for His continuing work to bring about into our wsion of being "a growing famlly
where God transforms Ilves through Jesus" as we've grown In number, holiness and love and seen
lives continually Iransfomied. That's been happening as a community we have..
1. Engaged and Explaingd - through the enabling work of the church, each and every day over 300
adults and children are out in their communities and workplaces lowng and living like Josus. Alongstde
that, Christians Against Poverty Debt Centre Celebra1￿ lis 2nd anniversary and rejoiced in 10 people
going debt free. OUT Trinity Tols ladult and toddler group) has grown so much we've started up Trinity
Tunes and Tales as well each we&k. Our young people work at Dangerous Club and Roots Youth Club
has gone from strength to strength lo allow teenagers a safe space lo enjoy lime together! Our schoDIs
work means we do 8S$8mblies in 3 schools and host trips and seNices at the church. Our Lunch Club
and Friendship Afternoon provide an important place for conversation, community and chances to
discuss Jesus.
2. Established and Equipped - our Sunday services have continued to grow. with Sunday evenings
providing a different space lo help disciple and enable Christians he￿. Our Lrfe Groups have seen
steady trickle of people joining. and continue lo be a source of encouragement, growth and care. Ouy
children's and youth work continues io grow with an encouraging numbar of youths now regular on
Sundays.
3. EnJoylng- a new strand lo our Msion has seen a greater emphasis on helping one another lo enjoy
our relationship w*th the Lord Jesus and with one another. seeking not lo be just a church of a¢tiMly but
of relational depth. We've seen people in the hardest of times know great support, care and
encouragement, as well as seeing people grasp and del(qht in the joyful relationship Jesus longs to have
wlh people.
4. Exported- we've been encouraged by the work Df our mission pathers who serve the Lord bcally.
nationally and globally. Our partnership wth them has fuelled our heart and desire to be those who
make the good news about Jesus known and we pray il won't be long before we send more people off to
the mission field.
Despite Ihe national church shrinking by 20%. we've seen our church grow by 6°h. Despite facing
significant deficit. we've seen the Lord meet all our needs. We are so thankful to Him who provldes. But
also as a voluntary organi5aliori, we're so thankful to God for the work of all who labour so hard to make
so much happen. Without the sacrifice of lime, gifts, money, and prayers of so many, none of thi51831
year would have happened. Il's a privilege and joy to be a part of Holy Trinity. il genuinely is a growing
family.. but all the glory must go lo God, as the Psalmist sayE as he looks al all God has done, 'Lel
everything that has breath praise the Lord.- (Psalm 150..61
Rev James Hills
Vicar of Holy Trinity Wallington & Chair of the PCC
Page 3

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH. WALLINGTON
{A Church of England Parish Church)
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31st DECEMBER 2023
The Parochial Church Council of Holy Trinity Church, Wallington Ireferred to hweafter as"PCC" or'the Chsjrch'l
has pleasuie in presenting the Annual Report and accounts lor the year ended 31 December 2023.
Background
1. The Parochial Church Council I"PCC") ha5 the responsibility of co-operating with the Incumbenl in promoting
in the Parish the whole mission of the Church pastoral, evangelistic, social and gcumenical in the Pafish of Holy
Trinity, Wallinglon. This covers 8 full range of Christian ministry, worship and service and includes formal
responsibility for the church buildings.
2. The PCC is iegistered as a charity and PCC members are Trustees.
REFERENCE AND ADMINISTRATIVE DETAIL
Detalls of thè charfly registration number. the full address of the Registered Office of the Church, Ihg names of
the currenl members of the PCC, the Incumbent, Wardens and other relevant organisalions are given on pago 1.
PUBLIC BENEFIT
No private benefit trs derived from the Church's activities by any Members of the PCC, who do not receive any
remuneralw)n.
The PCC has considered the Public Benefft guidance issued by the Gharity Commission believes very
strongly that the Church demonstrates a real public benefit through ils faith. ils ethos, sts cu¥renl activities and its
development plans.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure, governan¢• and management
The PCC is a corporate body established by the Church of England. Its governing documents are the Parochlal
Church Council (Powers) Measure 1956 as amended and the Church Representslion Rules Iconlained in
Schedule 3 to the Synodical Govemment Measure 19691 as amended.
Managoment of Rlsk
Followng the implementstson of A¢countsng and Reportlng of Charities SORP {FRS1021 the PCC is required lo
fomially review and lo re¢ord those risks and the action taken to miligale those risks. A Tevised Rbsk
Managernent Policy was approved by the PCC in 2023 and a comprehellsive risk assessment completed. The
impact of risks are regularly assessed by a dedicated team and findings are reported back lo PCC.
Rtcrultment and appointment of new membgrs of the Parish Church Councll
PCC members are recruited in a number of ways. The Clergy and Churchwardgns are members by virtue of their
offices. Members of the PCC and Deanery Synod represenlalives are elected by the Annual Parochial Church
Meeting I'APCM") and hold office for three years or are COthOPted. All PCC members are Trustees of the Charity
and new Trustees are provided with a copy of the governing docvmenls, copies of recent fflinules and other
documents which may be helpful. as well as a preliminary briefing by the Chalrman. Al the first meeting attended
by a new Trustee. an updated briefing is provided and there is an opportunity to ask questions about the Church's
activities. Charity Commission newslelter5 are available lo all Trustees. The Chairmat) provides briefings from
time lo litne on the responsibilFties of Trustees.
Page 4

PAROCHIAL CHURCH COUNCIL OF HOLYTRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31st DECEMBER 2023
Organisational structure, decision-making and del¢gation to staff
The PCC cariies out ils responsibilities of church governance by deleg81ing some responsibilities to employed
staff and subsidiary cornmittees.
The PCC Management Team functions between meetings of the PCC to help progress consideration of
church decisions. This group includes the Wardens and Treasurer and, if necessary, has the power lo
transa¢l PCC business between meetings.
The Finance Committee works w71h the Treasurer to establish annual budgets, encourage the voluntary giving
of church member5, rewew church finallces, arrange for payment of staff, and present accounts for
independent gxaminalion.
Th& People and Plant Management Team 15 designed lo manage the day lo day operations of the enlife
pr8mises and the volunteers needed lo run it. 11 allows operalional issues to be discussed on a monthly basis
and reports all requests for approval lo Ihe M8nagemeTrl Team or PCC foi decisions lo be made.
The Export Tearn acts as the link between the church and its Mission Partners, encouraging player and
tommunication. The team also agrees the amounts lo be paid as gifts and grants to support local, national
and international activities, including our Mission Partners and societies.
staffing
The PCC has authorised a staff complement of five as at 31 Decernber 2023. The Church Operations
Minister 8nd Church Administrator are responsible for running the church office. administrative assistance lo
the Vicar, and daily operations in the Church and Cenlre. Ministry staff are employed lo assist the Vicar in the
church's mis510n lo the Parish. In addition. for the latter part ol the year, we had the bgnefil of a full lirne
volunteer Ministry Traine8.
The PCC is gialefLfl for the enoTmous variety of serving contrlbutions from church members and church staff
that combine here lo effethively 8dvan¢e the missitsn of the church over this past year.
Safeguarding
The PCC has complied with Ihg duty under section 5 of the Safeguardin9 and Clergy Discipline Measure
2016 (duly lo have due regard lo the House of Bishops. guidance on safeguarding children and vulnerable
adults).
Page 5

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
TRVSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31st DECEMBER 2023
OBJECTIVES AND ACTIVITIES
The misslon stalernent of Holy Trinity Church is'To be a growing family where God Iran5forrns lives through Jesus."
The Objectives of the PCC are defined by the Parochial Church Council (Powersl Measure 1956 as 'lo co-operate
with the minister in promoting in Ihe paTish the whole mission of the Church.. pastoral, evangelistic, socSal and
ecumenical.. The primary object of the PCC is therefore the promotion of the Gosp81 of our Lord Jesus Chrisl
according lo the doctrines and practices of the Church of England.
Holy Tronity Church was opened in 1867 to serve the then quite small cornmunSty of Wallington. The primary
objective of the church is to b¢ a place of Christian worship in accordance wth the conservative Evangelical tradition
of the Church of England and this is achiev8d through a variety of regLtlar services on Sundays and weekdays. In
addition, Holy Trinity acts as a focal point for the local community by providing a meeting place for comrnunty gTOtJps
to enjoy their own activities. The different gTOUPS of church actimlies can be summarlsed as follows..
The Church General Fur￿ for the provision of the main Christian worship acliwlies and outreach to our local
community. We provide a full programme of events for all ages for bolh Church members and for the wider
ommunity including a youth club, Lunch Club, and parents & toddler group5. It also includes the hiring out of the
Church Hall and linked rooms Ihat are collectively used as a community meeting venue.
The Church Designated funds represent income and expenditure where the purposes are complementary lo bul
separate from the main activities of the ¢hurch itself.
The Restricted Fund r8presenis the Building Fund and th8 CompassK)n Fund. The former was set up to facilitste
the financial arrangements to Tebuild the old Church Hall into the Trinity Centre and the 2015 r&ordgring of the
church building and surrounding grounds. The Cornpassion Fund w8s launched in 2023 to allow Lts lo provide grants
in support of those members of our church family that are most impacted by increasing living costs.
The Church aims lo continue to maintain its premises in safe and sound condition for ils LÈsers. including outside
partie5, through ongoing planned and regular maintenance. The church has been the subject of a 20 yeaT project lo
upgrade and improve the facilitles for the chuich and local community, which concluded in 2015. In 2021 a further
programme of building enhancements was completed lo Improve the cuffent layout and make the Llnk area more
welcoming.
For many years and as agfeed at our Annual meeting, the Church has operated a giving policy Ithe Church giving a
percentage of ils voluntary income) to other Christian or Charitable organisations, in line with biblical principles. Thls
giving policy continue5 and we hav8 made donations from our income lo lo¢al, natK)nal and global mission partners,
societies and charities. The details of payfflenls that havè been made are shown on page 23.
The Church greatly valLtes the continuing support ol ils large number of volunteers. They provlde many land often
unseen) services lo the Church in many different roles. At least 40% of Church members volunteer in various foles
through the year.
ACHIEVEMENTS AND PERFORMANCE
In order lo achieve our objectives. the Church provSdes a number of services of public worship of varlous types to
enable as many people as posslble lo worship. All are welcome to attend services. As al 31st December 2023 there
were 217 parishioners on the Church Roll. of which 171 were not residents of the Parish. The average Sunday
Worship community. defined as those that attend regularly in person or online, was 210 lincluding 50 children). The
PCC mel seven times during the year wlh an average attendance of 15, reviewing the activities of the committees to
which it has delegated authority tor the day-lfrday running of the Church's aclivrties.
P8ge 6

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31st DECEMBER 2023
FINANCIAL REVIEW
Roserves policy
The Pcc-approved policy on reserves Is lo retain reseNes of al least slx months, expenditure as per the latest
annual budget to meet futur@ shortfalls in income or unexpècted expenses. Reserves will include both the General
and Designated Funds. As at 31 December 2023 the General Fund Reserves are £99,430 and the Designated Fund
Reserves aTe £689,487, ¢omfortably above the target of approximately £208.000. The PCC wsll review on an ongoing
basis the need for free reseryes which are Ihose unreslricled funds not invested in fixed assets or otherwise
designated. The reslricled funds are gI￿rned by the initial donors, Instructions and are distributed accordingly.
Prlnclpal lundlng Sources and how expendlture has supported the key obJe¢tives
Overall. Holy Trinity finished the year with a surplus ol £9,804 made up of General Fund £30,159, Designated Funds
of1£8,7601, and Restricted Funds of1£11,5951. This compares to a nel deficit of £47,971 in the previous year. The
General Fund surplus was largely achieved IhTough increases in giving, (regular and oneaoff donalionsl, and
improved letting income, combined wlh c051s that were broadly ffal compared lo la51 year. For the Designated Fund,
the PCC approved the use of reserves lo fund the costs of our Music Minislef and rental of a house for the Curate -
this was partially offset by a Legacy and much improved interest earned on our deposits. The Compassion Fund
launch raised over £16,000, bul no grants were paid out dLtring the course of 2023.
Gèneral Fund- Church
Most operating income Is derived from regular gNing by Church members and Gift Ald is claSmed on much of this.
Other donations and cash collections make up the balance ol voluntary income. Voluntary Income was significantly
higher than 2022, with church rnembers continuing lo give sacrtficially and new givers offsettino the reductions arising
Irom those passing away or leaving the chu￿h. Letting income has relumed lo the levels seen before Covid and the
increasing levels of church actwilies created an uplift in other income sources. Other Income includes Circa £4000
from an insuranc8 claim for damage lo the stained glas5 wndow5, paid out in October. Expenses were lightfy
GonlTolled during the year resulting in lolal costs being held at the same level as 2022.
Our Lunch Club provides nouiishing méals and fellowship for older members of the Church 8nd the IL)c21 communlty.
Other activities include a fully booked weekly Trinity Tols Group Ip8renls and toddlers) and well attended Friendshlp
Afternoon group for all ages. Our Comerslone Café is open days a week serving excellent coffee and tea and
we offer a wami space for those who need lo save heating costs al home. Community groups and commercial hirers
have retumed and on some days we are very busy. We plan lo open our Café more frequently to meet the
increasing demand from vi511or5 in 2024.
In order to comply wth pension regulation lor eligible salaried employees, Holy Trinity, Wallinglon participates in the
Church of England Definad Contributions Schèm8 IDCSI wlthin th8 Church Workers Pansion Fund. We had four
active membgrs a131sl December 2023.
Designated Funds
We received grants totalling just over £4,000 from the Diocese of Soulhwark and with the 2022 grant funding. this
was used to refurbish our Children and Youth room, pur¢hage new NIV bibles. launch a new toddler group on
Mondays, purchase new podcasting equipment and help fund the costs of a sabbatical for our Children and Youth
Minister.
We also received a legacy and this partially funded the c051 of the Music Minister and the Curate'$ rent. Higher
interest rates have boosted our Interest in￿rne, also used lo fund our expenses with the remaining deficit ¢overèd by
drawing from Deslgnaled Fund reserves, a5 previously approved by the PCC.
2023 has presented a new Challenge wSlh a deterioration of the retaining wall alongside Manor Road. Following a
survgy by structural engineers we need to undertake signifi¢8nt repairs lo the whole wall, including the complete
rebuilding of part. Costs are yel to be determined. bLtI we have budgeted for up to £120.000 lo be spent in 2024
and the PCC has approvod in p￿ncIple the use of Designated Reserves lo cover thls oxceplional item.
Page 7

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH. WALLINGTON
IA Church of England Pafish Church)
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31st DECEMBER 2023
FINANCIAL REVIEW cont:
Restrlcted Funds
The Re51ricled Fund comprises the Building Fund and the Compassion Fund. The 'Building The
Church, project was completed in 2016 and lully funded by January 2018. The PCC now has
responsibility for addressing any residual costs for minor building related issues.
The PCC approved the creation of tho new Compassion FL*nd, launchtrd al the beginning of 2023, which
raised over £16,000 in donalions from church members. The fund is designed lo make grant payments
in support of church family members who are struggling financially. e.g. by clearlng their rent arreais.
The PCC approved a sel of guidelines to clarify who may apply and the types of grants available. To
maintain confidentiality. a small panel remews the applications and agrees the amounts to be paid. Only
few number of applications were received during 2023 and none have yet progressed far er70U9h lor
grants to be paid. The fund continues to be open and will be rewewed by the PCC during 2024.
Invtstment policy and performance
The Church does fkol have a formal investment policy. It endeavours to obtain the best possible secure
turn on its investments and cash balances. Fund balan¢es are invested wsth the CBF Church of
England Deposit Fund.
Looking ahead to 2024 and beyond
We have seen a significant growth of activity during 2023 ond expect this lo contin￿e in the years 8head-
serving ou¥ church family and our local community. We continue to provide Sunday morning
services at 9..15 and 11 am in order to provide enough capacity for the congregation lo meet comfortably
and ¢hurch attendance continues lo grow steadily. Our church is open every weekday to provide 8
'Warm Space" a rendezvous for friends, or place for quiet meditabon and room booking actwily by our
hirers is growing as they wish lo use our fa¢ililiès for meetings and events. We are delighted to be able
lo welcome new people from our coMmun￿Y into our buildings.
The budgeted expenditure for 2024 is £413,900, IGeneral Fund £364.300 and Designated Fund
£49,600). producing a deficit of £57,900. Expenses are forecast to be over 10Yo higher than 2023 and
11 be covered through an incFease in 9iving and letting income plus a drawing on Reserves. The
Designated Fund expenses are expected to b? partially covered by bank intere51, wlh a potential £24K
shortfall covered by dfawing on Reserves. as previously approved by th8 PCC.
In addition, we are budgeting for the wall repair costs to be approximately £120.000. As this is an
exceptional item, the PCC is planning lo meet this cost entirely from our cash reseNes held on deposlt.
Our reserves are sufficiently robust lo ¢ov8r any shortfall in income. but the aim is to refrain from
drawing on reserves lo cover day to day costs. We will be having our Quinquennial inspection during
2024, which we anticipate may highlight the need for further repairs and improvements lo thtr fabri¢ of
our buildir)gs, including tho church roof. The PCC has approved in prlnciplo the use of the Designated
Funds lo undertake large capital expenditure.
Mossage from the Honorary Tr¢a$urer
Church life has thankfully retumed lo pre-pandemic levels of activity and our Church family is growing.
During 2023 we implemented a new ac¢ounling system called Expense Plus, which has streamlined our
processes and strengthened our financlal controls. We recognise that we are blessed to have sufficient
r8sgrves lo cover unexpected issues and we are also using these Teserves selectively to promote new
opportuni118s for growth in the future.
Thank you lo all who have contributed lo these financial results, by your giving and your prayers. Please
continue to pray about our personal giving and for all involved In Ihg financial ministry al Holy Trlnity. Our
finances a￿ used lo fund the vision'lo be a growng family where God transforms lives through Jesus..
We are continually remlnded of God's provision and His faithfulness to us year on year.
Page 8

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
TRUSTEES'ANNUAL REPORT
FOR THEYEAR ENDED 31st DECEMBER 2023
STATEMENT OF RESPONSIBILfflES OF MEMBERS OF THE PCC
The Members of the PCC are responsible for preparing the Annual Report of Ihts Members of th8 PCC and
the financial statements in accordance with applScable law and United Klngdom Gengrally Acceptgd
Accounting Practi￿.
The law applicable to charllies Sn England and Wales requlres the Members of the PCC to prepare financial
ststemenls for each financial year which give a trLJe and fair view of the state of affairs of the Charity and of
the incoming resoU￿e$ and appllcation of resources of the Charity for that period. In preparlng these
financial slalements. the Members of the PCC are required to..
select suitable accounting policies and then apply them consistently
observe the methods and prin¢iples in the Charities SORP
make judgments and estimates that are reasonable and prudent
stsle whether applicable accounting standards have been followed, subject
lo any material departures dis¢losed and explained in the financial
ststement5
prepare the financial statements on the going concern basis unless it is
inappropiiale lo presume that the Church will continue in its charitable work.
The Members of the PCC are responsible for keeping proper accounting reGords which disG105e wlh
reasonable accuracy at any lime the financial position of the Charity and lo enable them lo ensure that the
financial slalements comply with the Charities Act 2011 the Charity (Accounts and Reports) Regulations
and the provisions of Ihg governlng document. They are also responsible foi safeguarding the assets of
the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
So far as the Members of the PCC are aware:_
there is no relevant inforrnation of which the Charivs examiner is unaware..
the Members of the PCC have taken all steps thal they ought to have takan
lo make themselves aware of any relevant audit information and lo establish
that the examiner is aware of that infomiation.
INDEPENDENT EK4MINERS
Due to the lolal gross income being less than £1.000,000, the Church is required to undergo only an
Independent Examination. rather than a full Audit. Al the Anrbual General Meeting in April 2023. members
agreed to appoint Sam Thomas of Azels lo be the Church's Independent Examiner for the year ended 31st
December 2023.
This report has b&&n prepared in accordance with the Slalemenl of Recommended Practice applicable lo
charities preparing their accounts in accordance wSlh the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021.
18th March 2024
-Revd. James Hills
Incumbgnt
.John W Martin
Hon. Treasurer
Page 9

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF HOLY TRINITY CHURCH. WALLINGTON
I report to the Iruslees on my examination of the accounts of the Church for the year ended 31
December 2023, which are set out on pages 1110 23.
Responslbllltles and bas1$ of report
As the charity trustees of the Trust you are responsible for tha preparation of the accounts in accordar>ce
with the ￿qI11rementS ol the Charities Act 20111'lhe Act'l.
I report In respect of my examination of the Trustees, accounts carried out under seclion 145 of the 2011
Act and in carryfjng out my examination I hav& followed all the applicable Dlreclions given by the Charty
Cornmission under se¢tion 14515llbl of Ihe 2011 Act.
Indgpandent examiner's statement
I have ¢omplèled my examination. I confirm that l arn qualified to undertake the examination because I
am a member of ICAEW, which is one of the listed bodies. I confimi that no material matters have come
to my attention Sn connection with the examination gmng me cause to believe that in any material
respect..
{11 accounting records were not kept in resp￿1 of tho Trust a5 requlred by section 130 of the Act., or
(21 the accounts do not accord with those records.. or
{3} the accounts do not comply with the applicable requlrements conceming the form and ¢onlenl of
accounts sel out in the Charities {Accounts and Reportsl Regulations 2008 other than any requirernenl
that the accounts give a 'lrue and fair vEw' which is not a matter considered as part of an independent
examination.
I have no ¢onc@rns and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order lo enable a propèr understanding of the accounts lo be
reached.
Sam Thomas BA FCA
Independent Examinor
Trinity Court
34 Wesl Street
Sutton, Surrey
SM1 1SH
Dated..
03
Page 10

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31st DECEM8ER 2023
Unrestrl¢ted Funds
Note Gengral
Deslgnated
Restricted
Funds
Total Funds
2022
Incomè..
Donations and Legacies
Other Trading Activities
Income from Investments
Olher Incow*e
264,641
94,666
33
17,611
16,269
298.521
94,666
31,718
285,198
72,707
9,475
31,685
Total Incomo
359,340
49,296
16,269
424,905
367.380
Expenditurè:
Expendrture on Charitable Activities
329,181
58,056
27.864
415.101
415,351
Total Expendlture
329,181
58,056
27,864
415,101
415.351
Net Incom￿ (Expenditure)
Transfers between funds
30,159
18,7601
111.5951
{47.9711
Net movom#nt In fund$
30,159
18,760}
111,5951
9.804
147.9711
Reconclliation of funds
Totsl funds brought fomard 11112023
69,271
698,247
860,426
1,627,944
1.675,915
Total funds Carried fonyard 3111212023
99.430
689,487
848,831
1.637.748
1.627,944
Page 11

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Churchl
BALANCE SHEET AS AT 31st DECEMBER 2023
Note5
2023
2022
Current Assets
Tan9ible fixed assets
847.332
870,426
CurrentAss8ts
Debtors
Cash at bank and in hand
deposit accounts
current accounts etc.
16,279
10.191
713,333
78,642
691.338
62,801
808,254
764,330
Creditors- amounts falling due
wlthln ono ygar
17,838
6,812
Nèt currant assets
790.416
757,518
Total assets les5 current Ilabllltlos
1.637.748
1,627,944
Credltors: amounts falllng dug
aftgr moro than one year
Net assets
1,637,748
1.627,944
Funds..
Unrestricted
general
design8ted
Restricted
89,430
689.487
848.831
59,271
698,247
860.426
1.617,944
10
1,627.748
Propety valuation reserve- General
10.(K)O
10,000
1.637.748
1,627.944
Approve(t by the Parochial Church Council on 18th March 2024 and signed on ils behalf by..
Revd James Hills
Chair
John W Martin
Hon. Treasurer
The notes on pages 14 10 23 form part of these accounts
Page 12

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH. WALLINGTON
IA Church ol England Parish Church}
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31st DECEMBER 2023
Total Funds
2023
2022
Notes
Cash us8d in operating activitiés
12
12,478
169.2091
Cash flow$ from investlng a¢tlvitles
Interest income
Purchase of tangible fixed assets
Sale of tangible fixed assets
Cash provlded by {u$¢d In} Investing activities
31,718
16,3601
9,475
25,358
9.475
Repayment of borrowing
Cash used in flnan¢ing activitios
Increase Idecreasel in cash and cash equlvaSents in the year
37,836
{ 59.7341
Cash and cash equivalents at the beginning of the year
754,139
813,873
Total Cash and ¢a8h equivalents at the end of the yeaT
791.975
754.739
Page13

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH. WALLINGTON
IA Church of England Parish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31$t DECEMBER 2023
1 ACCOUNTING POLICIES
Charlty Inforrnatlon
The charity's goveming documents are the Parochial Church Council (Powers) Measure 1956 as amended and the Church
Representation Rules (contained in Schedule 3 to the Synodical Government Measure 9969 as arnendedl.
la} Basis for a¢¢ounllng
Thes? a¢¢ounls have been pr8pared in accordance with FRS 102 "The Financial Reporting S18ndard applicable in the UK
and Republic of Ireland. I"FRS 102.1, "Accounting and Reporting by Charities. the Statement of Recommended Practice for
charities applying FRS 102, the Charllies Act 20fj 1 and UK Generally Accepted Accounting Practice as (( applies from 1
January 2015. The Church is a Public Benefit Entity as defined by FRS 102.
The accounts have departed from the Charities {Accounls and Reportsl Regulations 2008 only to the exlenl requiied lo
piovide a true and fair view. This departure has involved following the Statement of Recofnrnended Practice for charitlOS
applwng FRS 102 rather than the version of the Statement of Recommend&d Practice which is ref¥rred to in the Regulats'ons
but which has since been withdrawn.
The accoLfnts are prepared In sterling, vthich is the functional currèncy of the Church. Monetsry amounts in those financial
slal&ments are rounded lo the nearest £.
The ac¢ounls have been prepared under the historic81 cost convention, modified lo include the reval*Jalion ol freehold
properties and to include investment properties and certain financsal instruments at fair value. The principal accounting
policies adopted are sel OLrt below.
Ibl Going concem
Al the lime of 8pproving the accounts, the tru51ees have a r88sonable expectation that the Church has adequat8 resources
lo continue in operational existence for the foreseeable futu￿ and there are no material uncertainties aboLkt the ¢hariWs
ability to continue. Thus the trustees, continue to adopt the going concern basis of accounting in pre￿rIng tt)e accounts.
{cl Tangible Fixed Assets and D•pr¥¢lation
Consecrated and benefice property Is excluded from the accounts by S.9612llal of the Charities Act 2011.
Moveable church furniture held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for
disposal are listed in the Church's inventory. For Inalienable property acquired Prior to January 2000 there is insufficient cost
information available and therefore such assèts are not valued in the accounts.
l expenditure incurred during the year on consecrated or benefice buildings and moveable Church fumishings, whether
maintenance or improvement. is written off as expenditure in th8 Statement of Financial Activities and separately disclosed.
Freehold Land and Building5 - The Trinity Centre has been included al the existing use values as al 1st January 1996 with
subsequent additions at cost. The Trinlty Centre buildings are being depreciatgd on a straight line basis at a rate of 2 /0 per
annum. Freghold land is not depreciated.
Equipfflent within the Church premises is depreciated on a straight line basis over 4 years. Individual items of equipment wlth
a PLir¢hase pric8 of £1,000 OT less are written off when the asset is acquired.
Donallons for fixed assets are witten off over the same period as the related assets.
Idl Funds
Unrestricted Funds represent funds of the PCC that are not subject lo any restrictions regarding their use.
Designated Funds represent funds designated by the PCC for a specific purpose. Such funds are still unrestricted and may
be re-designaled by the PCC.
Restricted Funds represent funds set up for a specifie purpose. either by the PCC or the donor. Transfers betsyeen
designated and restricted funds are c8rried out only when they are considered to be in the interest of all funds involved.
Page 14

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
(A Church of England Parish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023
1 ACCOUNTING POLICIES (¢ontinuedl
le) Exclustons from Flnancial Statements
The Financial Statements include all Iransaclions, assets and liabiliti'es for which the PCC is responsible in law.
They do not include the accounts of Church Groups that owe Ihelr main affiliation lo another body nor those that
are informal galhorlngs of Church Members.
lfj Incoming resourcos
Collections and stewardship giving are recognised in the accounts when received by or on behaK of the PCC.
L¢ga¢ies lo the PCC are accounted for as soon as the PCC is notified of its legal entitlement. the amount due is
quanlrfiable and ils ultimate receipt by the PCC is reasonably certain.
Income tax recoverable on gift aid donations is recognised when the ielatgd income is reeogni5ed.
Rentsl incomg from the letting of Church premises is recognised when the rental is due.
The Church is greatly as5islad by voluntary help and donations in kind. Thesè are not reflected in the financial
statemenis 8$ they are not capable of accurale financial measurement.
Grants receivable are recogn5sed in the accounts when the terms of the grant have been mel. Grant income is
included in Voluntsry Income.
Ig} Rèsour¢e$ expended
Resources expended are Tecognised in the peiiod in which they ale incurred and include VAT which cannot be
recovered. Resources expended are recogni5ed as Charitable activities and include gifts made to registered
charities. loggther wth costs and expenses attributable to clergy. running Church services and activities.
Designated Funds and Restricted Funds expenditure are ilemised separately for specific activities of the church.
Governance costs represent all costs incurred in meeting legal and financial reporting r6quiremen15. Wherever
possible, costs are attributed to and paid independently by each church actimty, but where costs need to be
shared these are clearly identified in the detsiled Statement of Financial Acliwlies.
Ihl Cash and cash gqulvalents
Cash and cash equivalents include cash in hand, deposlls al call wlh banks. other short-term liquid investments
with original maturities of three months or less. and bank 0V￿drafts. Bank overdr8fts are shown wsthin
borrowings in current liabilities.
{1} Flnancial Instruments
The Church has elected to apply the provisions of Section 11 '8asic Flnancial Instruments, and Section 12 '01heT
Financial Instruments IssLtes' of FRS 102 to all of its financial instruments. Financial instruments are recognised
in the Church's balance sheet when the Church becomes party lo the conlraclual provisions of the instrument_
Financial assets and liabilities are offset, with the net amounts presanled in the financial slalemenls, when there
is a legally enforceable right to sel off the recognised amounts and therg is an intention to settte on a net basis or
lo realise the asset and setue tho liability simultaneously.
Basic financial a$$ots
Basic financial assels, which include debtors and cash and bank balances, are initially measured at transaction
price Including trans8Ction costs and are subsequently carried al amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction. where the transaction is measured 81 the
present value of the fLtture receipts discounted at a market rate of inte￿31. Financial 855els classified as
receivable within one year are not amortised.
Page 15

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH. WALLINGTON
IA Church ol England Parish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023
1 ACCOUNTING POLICIES Icontinu¢dl
{11 FlnancSal Instruments Icontlnuedl
Basic financial liabilities
Basic financial liabilities. including creditors and bank loans are initially recognised al transaction price
unless the arrangement conslilules a financSng transaction, where the debt instrument is measvrgd at
the present value ol the future receipts discounted at a market rale of inleresl. Financial liabililies
classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised costs, using the effective inlgresl Tale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of operations from suppliers. Amounts payable are classified as current liabilities rf payment is
due wthin one year or less. If not. they are presented as non.currenl liabilities. Trade creditors are
recognised inilially al Iransa¢tion prace and subsequently measuied at amortised cost usin9 the
effective interest method.
Derecognltlon of financlal Ilabllltlos
Financial liabilities are derecognised when the Church's contractual obligations expire or are
discharyed or cancelled.
U) Dlo¢es4D Parlsh Support Fund
The amount of Ihg Parish Support Fund is agreed by the PCC and is accounted for when payable. Any
amount unpaid al 31st December is provided for in the 8ccounls as an operational Ilhough not a legal
liability and is shown as a creditor in the Balance Sheet.
Ikl Gifts to other organisation5
The Annual Parochial Church Council agroes the total amount to be paid as gifts to other
organisations and paymgnts lo mission partners and missionary Societies from the General Fund in
the budgel-setting PCC Meeting in the autumn.
{11 Penslon costs
The charity part￿CIpaleS in the Pension Builder Scheme IPBSI and the Defined Bgnelits Scheme
ID8SI, both defined benefit schemes within the Church Workers Pension Fund. administered by the
Church of England Pen5ion5 Board.
The Church is unable lo identify ils share of the underlying assets and liabilib'es. as each employer is
axposed to actuarial risks associated with the current and fomief employees of other partlclpaling
entitie5. The assets of the schtrme are held separately from those of the employer. In this instance,
FRS102 requires that the Contributions be accounted for as il il were a defined contribution scheme.
Pension costs are therefore the contributions payable lo the Schome in the year.
Crltical accounting estlmates and judgements
In the application of the Church's accounting policies, the trustees are required lo make judgements,
estimates and assunlplions aboul the Carr￿n9 amount of a55el and liabilities that are not readily
apparenl from other sources. The eslirnates and assoclaled assumptions are based on historical
experience and other factors that are considered to be relevant. Actual r8suIts may differ from these
eslimales.
The estimates and underfwng aSsUmpt￿n$ are rewewed on an ongoing basis. Revisions to
accountirig estimates are recognised in the period in which the estsmale is Tevised where the revision
affects only that period, or in the period of the revision and future pèriods where the revision affects
both CU￿ent and future periods.
Page 16

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH. WALLINGTON
IA Church of England Parish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023 {Cont'dl
2 INCOME
Unrèstricted Funds
General
Designated
Restrlcted
Funds
Total Funds
2023
2022
Donation8 and Legacies
Slewafdship donations
standing Orders
Income Tax recoverable
CAP Donations
Collections
Donations
164,635
42.144
164.635
45,127
1,500
9,399
61,844
282,505
157,348
36,063
1.602
6,070
31.156
232,239
2.983
1,500
9,399
48,463
264,641
95
1,595
13.286
16.269
Other voluntary income
Legacies
Grants
12.000
4.016
16,016
12,000
4,016
16,016
47,059
5,900
52,959
Total Donations and Lagacles
Other Tradlng A¢tlvities
Literature sales
Lunch Club in¢ome
Cateringlother income
Trinity Centre lettings
Foes
Cafe Income
Trinty Tols
264.641
17,611
16,269
298,521
285.198
504
7,865
6.081
68,425
6,401
4,509
1,081
504
7.665
6,081
68,425
6,401
4.509
1,081
410
3,735
2.866
59.439
3,365
1,829
1,063
Total Other Trading Aetl¥Stles
94.666
94,666
72,707
Other Income
Other income
Total Other Incom•
Income from Investments
Deposit interest
33
31,685
31,718
9.475
Total Incomo
359.340
49,296
16.269
424,905
367.380
Page 17

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH. WALLINGTON
IA Church of England Parish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023 (Cont'd)
3 EXPENDITURE
Expendituro on Charitabl8 Activitias
Unrnstricted Funds
General
Designated
Re$tri¢t¢d
Funds
Totsl Fund5
2023
2022
Charitable Activities
Mlssion
Grants & Gifts to other organisalions {nolg 151
Diocesan Parish Support Fund
Staff housing
Staff expenses
Fees paid to Diocese
Youlhlsunday School
Christians Against Poverty Expenses
Staff training
SèNicè expenses
Literature costs
Outreach
Trinity Tots
Café costs and purchases
Lunch Club costs
Staffing {note 41
Director of Women & Families Ministry
Music Minister
Youth Minister
Church Ops Ministar
Church Adminislralor
Admlnlstratlon and Bulldlngs
19.814
85,000
1,200
3.179
3,569
2.518
2.177
19,814
85.000
16.200
3,179
3.569
2,613
3.677
16.500
83,000
16,200
2,179
3,088
5,479
3,936
2.494
1,141
1,194
1.711
190
2,333
2.118
15,000
95
1,500
1.700
1.789
3,735
394
3,981
4.543
1,700
1,789
3,735
526
3,981
4,543
132
22,037
22.037
32,759
37.448
35,687
22,473
21.045
31,483
35.595
40,732
19,256
32,759
37,448
35.687
22,473
20.622
7,017
11,871
1,840
15,864
20,622
7.017
11.871
1,840
15,864
1.094
19.604
6.569
10,937
2,190
15,136
1,373
7,501
1,618
1,814
15,832
27,864
6,146
169
6.560
Insurance
Repairs and maintenance
Garden Maintenance
Cleaner and Cleaning Material
Waste Collection
Livestream Technology
Music LiCen￿s]EqUIprnent
Web sile and Marketing
Building Costs
Depreciation
Printing, ststionery and office services
Bank Charges
General expenses
Membership & Subscriptions
1.907
550
1,907
550
1.590
7.263
340
3,492
107
27,864
29.454
7,263
340
8,504
107
5,012
324,801
54,498
27.864
407,163
412,891
vernance Costs
Independent Examination fee
Professional Fees
3.360
1.020
4.380
3.360
4,578
7,938
415,101
2,460
3,558
3,558
58,056
2,460
415,351
Total Expendlture
329.181
27,864
Page 18

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023 (Cont'd)
4 STAFF COSTS
Unrestricted Fund$
General
Designated
R¢strl¢t¢d
Funds
Total Funds
2023
2022
Staff wages
Social Security costs
Pension costs
107,524
5,912
4.209
29.634
1,685
1,440
137,158
7,597
5,649
135,086
8.180
4.845
117.645
32,759
150.404
148,111
No employee received emoluments in excess of £60,000 p.
2023
2022
Number of employees.. Hoty Trinity Church
Pension costs
The pension costs above ￿present the contributions payable in tha yoar and Holy Trinity stsff are members of
the Church Workers Pension Fund, Pension 8uilder Classic scheme. A full actuarial valuation of thè Pension
Fund is conducted lriennially, with the latest valuation being performed as 8131 December 2022. This
valuation revealed a Surplus of £35.Om in the PB Classic scheme on an ongoing valuab'on basis. compared lo
surplus of £3.9m in 2021. The improvement is a rosull of a material rise in market gill welds and the general
improvement in financial conditions. As the PB Classic scheme is currently fully funded, there is no debt due
under Section 75 of the Pensions A¢t if Holy Trinity leaves the scheme. Assets are funded in a prudent and
sensible way and discretionary increases have been granted by the Boaré in 2022 and 2023. The Church
Pensions Board is not expected lo make any changes lo the scheme at this point in time.
5 FIXED ASSETS
Freehold land
and Buildings
Furniture and
Equlpment
Total
Gr055 Book Value
As at 1.1.2023
Additions during year
A5 at 31.12.2023
Depreciation
Asat 1.12023
Charge for the year
1,403,214
151,440
6.360
157.800
1,554,654
6,360
1,561,014
1,403,214
532.788
27,864
151,44Q
1,590
684,228
29.454
As a131.12.2023
560,652
153,030
713.682
Net Book Value
As at 31.12.2023
842.562
4,770
847,332
As at 31.12.2022
870,426
870,426
Gross Book
Value at
31.12.2023
Value
of Land
included
General Fund - Trinity Centre- Land. Estimated value al 1.1.1
10.000
10.000
1.393,214
1,403,214
10.000
10,000
R8slri¢led Fund - Cost- Trinity Centre. Wallington, Suirey
10,000
Page 19

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
{A Church of England PaTish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023 (Cont'd}
S IcontlnuÈd}
The gross book valu8 is based on the value astimated by the PCC as at 1st January 1996 or the wst of
subsequent additions. The market value of the Freehold land and Buildings is Considered lo materially exceed Ihe
book value. however. due lo the specialised nature of the Pfopetligs, the difference Cannot be practically quantified.
The Gross Book Value of the Furniture and Equipment is shared b8tween the General Fund {£21,4081 and the
Restricted Fund1£130,0321. In 2023, a new dishwasher was purchased at a cost ot £6.360 in the General Fund.
6 DEBTORS
2023
2022
Income tax recoverable
Hall hire due
Prepayments
Ir)teresl due on Deposits
2,595
4,117
2.747
6.194
1,250
9,567
16.279
10,191
7 CREDITORS Amouni falling due within one yeaf
2023
2022
Accruals
Trade Creditors
Grants Payable
8.805
2,173
6.860
17,838
6,812
6,812
8 TRANSACTIONS WITH MEMBERS OF THE PAROCHIAL CHURCH COUNCIL
None of the Trustees received any remuneration or expenses duiing the year for Iheir role as Tiuslees.
A proportion ol the housing costs and agreed work expenses have btsen m81 for the Clergy m9mb¢rs of the PCC.
The Staff Expenses of £3.1791£2.179 in 20221 Include the expenses paid to twstees and Staff. covaring
expenditure for Travel. Telephone, Conferences and Training, and Hospitality.
There have been no related paty Iransaclion5 in tho reporting period that require disclosure.
ANALYSIS OF NET ASSETS BY FUND
Unrestrlcted Fund$
Gongral
Deslgnated
Restricted
Funds
Total
Funds
Fixed assets
Income lax recoverable
Other debtors
Bank deposit a¢counls
Bank current accounts and cash
Creditors.. amounts falling due within one year
Inler-fund balan¢e5
14.770
2,345
4,127
744
60.563
117,4231
34,304
832,562
250
847.332
2,595
13,684
713.333
78.642
117.8381
9,557
712.589
2.060
14151
{34,3041
16,019
99,430
689,487
848,831
1.637.748
Funds
Property Revaluation Reserve
89,430
10,000
689,487
848,831
1,627.748
10.000
Fund Balan￿S
99,430
689.487
848,831
1,637,748
Page 20

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023 {Confdl
10 DESIGNATED FUNDS
Balance
1.1.2023
Incomlng
Resources
Resources
Expended
Balance
31.12.2023
Transfers
Grants and Designated In￿me
698,247
49,296
158,0561
689,487
698.247
49,296
158,0561
689.487
Grants and Designated Incoma
Designated funds are for income where the purpose is outside of Ihg normal day lo day running costs of the
church and where the PCC approve the use of them. In 2023, we re￿Ived three granis and one legacy and
these funds were earmarked as Designated Funds in the normal way and partly funded the capital
expenditure and the cost Df the Music Minister and Cuiate's house rent in line with PCC approval.
11 RESTRICTED FUNDS
Balance
Incoming
Resources
Rg$our¢a$
Expended
Balan¢e
31.12.2023
1.1.2023
Transfers
Building Fund
860,426
16.269
127,8641
848,831
860.426
16,269
127,8641
848,831
BulldSng Fund
Financing of Project..
Phase 1 of the Trinty Centre Project Ilhe conslrucllon of the new Trinlty Centre lo r&plaee the fomer hall and
meeting rooms) was completed at a cost of £1.423,000 in November 2003 and was fully funded by Aprhl
2006.
Phase 218uilding The Church project} was completed in 2016. The final project cost was £1.858m, fully
funded by January 2018, the PCC now taking responsibility for addressing any residual costs for minor
building relaleij issues.
Page 21

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH. WALUNGTON
IA Church of England Parish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023 Icont'dl
12 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NEf CASH FLOW FROM OPERATING ACTIVITIES
Total Fund$
2023
2022
Nel Movement in Funds
Add back depreciation charge
Deduct Interest Income shown
De¢r@as8 Ilncraasel in debtors
Increase (Decrease) in creditors
Nel cash used in Operating a¢livilies
9,804
29,454
131.7181
{ 6.0881
11,026
12.478
147,9711
27.864
19.4751
13.8551
135,7721
169.2091
13 TRUST FUND
The PCC was the Managing Trustee of a Trust whose effecllve control passed to the Diocese over 20 years ago. Al
3151 December 2023 the Trust held assets 01 £362,363 {2022 - £332,191). The income from this fund is used to
cover clergy stipends of the whole Diocese, and does not therefore form p8rt of these accounts. The income or
capital of this Trust may become availablè lo the PCC if al some time in the future the Diocese were to hand back to
the Parishes the responsibility for remunerating their own clergy.
14 CONTINGENT ASSET
In 2002 Springfield Church was granted an ox-Parochial Pla￿ and thus became legally independent of Holy
Trinity PCC. Holy Trinity has a contingent interest in 500/0 of the Springfield Church Clergy Hous8- 49, Slanley Park
Road, Wallinglon. Th¥ PCC would re￿1ve 500A ol the sale proceeds if either..
la} Springfield Church ceasod to be part of the Church of England. or
Ib) Springfield Church wa8 no longer required to provide a dergy House and the propgrty could be sold.
As al 31 December 2023, il Is not practical to estimate the financial effect of these ¢onditions being mel.
Page 22

PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY CHURCH, WALLINGTON
IA Church of England Parish Church)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31$t DECEMBER 2023 Icont'dl
15 GRANTS PAYABLE
Total
202
Total
The lollowng grants were made by the PCC in 2023
Mission Societies
Bible Society
Wycliffe Bible Translators
595
952
500
800
Mlssion Partner$
James Barnard (Youth ￿th a Mission)
Pip & Si Wilson
Emma Nunn
3.565
3,565
3.565
3,200
3,200
3.200
Other Donatlons
Chris Donovan Trust.
Christian Inslilule
Church Society
Compassion UK
Sutton Nightwatch
Holy Trinity School Maintenance Fund
Open Doors
Sutton Community Works
Sutton Schoolswork
Total Grants Payable
476
1,095
119
833
155
1,800
595
595
1,904
19,814
400
100
700
1.800
500
500
1.600
16,500
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