THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD, COLLIER ROW ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 Charity No.. 1134080
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD. COLLIER ROW Charity No.. 1134080 Incumbent Vacancy Honorary Treasurer Mr T Nudds Parish Office 3 Redriff Road Collier Row Romford Essex RM7 8HD Bank Barclays Bank PIC 36138 South Street Romford Essex RMI 1RH Independent Examiner Ms K T Lee, FCMA Mawney Accountancy 1 Beech Street Romford Essex RM77LA Page I
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD. COLLIER ROW Charity No.. 1134080 The PCC presents its report with the Accounts of the Church for the year ended 31 December 2024 Principal Activities and Governing Documents The principal activity in the year under review was that of a Parochial Church Council to a Church of England Parish Church. The Church of England and its parishes are exempted charities" The PCC (Powers) Measure 1956 states that the PCC is to co-operate with the minister in promoting in the parish the whole mission of the church, pastoral, evangelistic, social and ecumenical" Objectives and Activities in the year Year 2024 was a challenging but exciting year. Challenging because Rev Canon David Hague who had led the church for 15 years retired in May. The announcement of his intention to retire was announced in January and that triggered what can be described as the Holy Spirit bringing forth the gifts and talents that had been deposited in individual worshippers over the years. To the glory of God, the church has experienced growth in many respects within the period under review. Pleas8 permit us to specifically acknowledge the invaluable contribution of our Associate Minister Rev Keith Turner along with his wife, Ruth in ensuring a sustainable plafform for continued mission and ministry at COGS. Our mid-week programmes continued to reach out to target groups in church and the community. By His grace, we were able to sustain the following ministries within the church building during the period under review.. starllght Toddlers- Ministry to young children and their families Destlny - outreach to youth in the community Seekers (Formerly Soyanna) - Faith Exploration Community Care & Share - Ministry to senior citizens The Meetlng Place - Offers refreshments and an opportunity to chat to people on any of life's ISSU8S Post COVID Sunbeams - Ministry to parents of children with additional needs Klngdom Builders - Ministry to children from church and the community using Lego models to represent Bible story learnt Kimbilio - Ministry group of sewers dedicated to supporting street children in th8 Dernocratic Republic of Congo Parochial Church Councll Employees During the year the PCC employed the following staff: Ruth Turner - Parish Coordinator Emma Hills- Children & Families Worker Page 2
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD, COLLIER ROW Charity No: 1134080 Membership of the PCC The Annual Parochial Church Meeting was held on 22 April 2024. At this meeting, the PCC reports on its activities and presents its accounts. Members are then elected to the PCC by those on the Electoral Roll in accordance with the Church Representation Rules. The following people served on the Council during 2024: Evans Ofoajoku Chair, Churchwarden and Deanery Synod Memb8r (re-elected April 2023 - April 2026) Associate Minister Keith Turner Yvonne Johnson Churchwarden (re-elected April 2024 - April 2025) PCC Secretary (since April 2024) (re-elected April 2024 - April 2027) Treasurer (April 2018 - Date) (re-elected April 2024 - April 2027) D8anery Synod Member (r8-elected April 2023 - April 2026) Parish Safeguarding Officer (since July 2024), Deanery and Diocesan Synod Member (re-elected April 2023 - April 2026) (April 2023 April 2026) (April 2022- April 2025) (April 2022- April 2025) (April 2023 April 2025) (April 2023 - April 2026) (April 2024 - April 2027) Ruth Buckley Tim Nudds Jason Frost Lesley Judd Edith Brown Ruth Turner Terry Hollick Joyce Perry Bolu Oluyanwo Julie Frost The PCC has met eight times this year. Five of these were PCC meetings, and three were extraordinary meetings to discuss the Parish Profile and the vacancy. PCC meetings were held on: 1 Oth June 2024 23rd September 2024 11th November 2024 13th January 2025 1 Oth March 2025 Extraordinary meetings were held on: 15th July 2024 19th August 2024 5th January 2025 Page 3
THE PAROCHIAL CHURCH COUNCIL OFTHE GOOD SHEPHERD. COLLIER ROW Charity No.. 1134080 Committees The PCC has continued to develop the functioning of sub-committees, in order to involve more people, including both PCC members and other church members, to increase resilience and improve succession. In this way we are less dependent on particular individuals. The following sub-committees exist to assist the PCC: Standing Committee: This is the only committee required by law. It has the power to transact the business of the PCC between its meetings, subject to any directions given by the Council. Evans Ofoajoku (Chair), Yvonne Johnson, Tim Nudds, K8lth Turner and Ruth Buckley. Parish Profile: This group was set up to create the Parish Profile, before bringing it back to the full PCC for feedback and finalisation. The team consisted of: Evans Ofoajoku, Terry Hollick, Jason Frost, Julie Frost. Th6 PCC thank them for all the hard work they did in completing the Profile. Flnance Team: This committee works through the details of the church finances. The finance team consists of Tim Nudds, Evans Ofoajoku and Yvonne Johnson. Deanery Synod: Three members of the PCC sit on the deanery synod - Jason Frost, Le51ey Judd and Evans Ofoajoku. This provides the PCC with an important link between the parish and the wider structures of the church. Lesley Judd also attended the Diocesan Synod as well as Bishop's Council. Misslon Actlon Group (MAG): This committee oversees the giving away of at least 10% of the income derived from the Church during the financial year. The team consists of Sue Baul {lead), Carol Phillips, Tim Venton, Roger Whipp, Peter Egbedeyi. Lesley Judd was on the team until November 2024 but has now been replaced by Joyce Perry as the PCC representative. We thank Lesley for the commitment she gave to this group. Hospltallty Team: This team are on hand for the main hospitality requirements of the church. The team is headed up by Yvonne Johnson, supported by Sue Baul, Edith Brown, Joyce Perry, Mal Byrne and Jean Anderson. The PCC appreciate5 the invaluable contribution they make. The Electoral Roll: Ruth Turner is our Electoral Officer. Details with regard to our Electoral Roll can be found in the full APCM Report. Along with normal business rnatters, which include finance, buildings, MAG, safeguarding; key discussion points of the year were: The vacancy and the Parish Profile Including the upkeep of the Vicarage and garden while in vacancy The continuation of livestreaming services Health and Safety Policy Updated safeguarding procedures Page 4
THE PAROCHIAL CHURCH COUNCIL OFTHE GOOD SHEPHERD, COLLIER ROW Charity No: 1134080 Financial Activities". The PCC is responsible for keeping proper accounting records. The reports disclose with reasonable accuracy at all times the financial position of the church, and which ensures that the financial statements comply with the Charities Act 1993 and the regulations issued in 1995 and 2000, revised in 2005. This report has been produced according to guidance dated 2006 issued by the Archbishop's Council of the Church of England. The PCC is responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The finance position is tracked every month and reports produced for PCC consideration at every meeting. Needless to say, Finance is a standing item on PCC agenda. The financial activities of the PCC are set out in the attached financial statements. Ongoing Financial Commitments At the date of the report, the PCC confirms that each fund has sufficient assets to fulfil its obligations. Taxatlon Status The PCC is an exempt charity for taxation purposes as a church defined as a place of worship under the Places of Worship Act 1855. Flnanclal Revlew 2024 was another tough year. The PCC set a deficit budget and presented our goals to God. As in previous years, He showed us again that He is Jehovah Jireh - Alleluial As you can see from the reports, we ended the year on a surplus. The regular giving income was £193,077 with total expenditure of £181,520, representing .8 % and 1.30k increases in income and expenditure respectively. Reserves Pollcy It is PCC policy to try to maintain a balance on free reserves (net current assets) which equates to three months, unrestricted payments. This is equivalent to £45,296. The purpose is to absorb any fluctuations in cash flow and to meet emergencies. The balance of the free reserves at year end was £203,518 (General Fund), which is higher than the target. Evans Ofoajoku (Ch Date: rchwarden) Yvonne Johnson (Churchwarden) Page 5
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD, COLLIER ROW Charity No.. 1134080 INDEPENDENT EXAMINER'S REPORT I report to the trustees of the PCC on my examination of the accounts for the year ended 31 December 2024, which are set out on pages 7 to 15. Res ective res onsibilities of the PCC and the Examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an Independent Examination is needed. l am qualified to undertake the examination by being a member of The Chartered Institute of Management Accountants. It is my responsibility to: Examine the Accounts under section 145 of the 2011 Act; Follow procedures laid down in the general directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and Stat8 wh8th&r particular matters have come to my attention. Basls of thls Re ort My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Inde endent Examlner's Statement In connection with my examination, no material matters have come to my attention in connection with examination 1. giving me reasonable cause to believe that in any material respect the requirernents: to keep accounting records in accordance with Section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with aGcounting requirements of the 2011 Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the account5 to be reached. Ms K T Lee, FCMA Mawney Accountancy 18eech Street Romford Essex RM7 7LA Signed: Date: Ik /LE Izs Page 6
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD, COLLIER ROW Charity No: 1134080 STATEMENT OF FINANCIAL ACTIVITIES For the Year ended 31 December 2024 General D8slllnated Funds Restrlcted Total 2024 Total Funds Funds 2023 Nol¢$ INCOME Voluntary income AGtivilies for generating funds Income from investments Church activities Other incoming resources 2a 2b 2G 2d 164,175 2,000 166,175 160,329 21,336 7,132 434 21,336 7,342 951 18,596 9,765 2,821 210 517 TOTAL INCOME 193,077 2,727 195,804 191,512 EXPENDITURE Church activities Costs of raising funds 181,520 866 4,948 187,334 178,922 3b TOTAL EXPENDITURE 181,520 866 4,948 187,334 178,922 NET INCOMEIEXPENDITURE 11,557 1,861 4,948 8,470 12,590 TRANSFER BETWEEN FUNDS 2,554 2,554 NET MOVEMENT IN FUNDS 14,111 693 4,948 8,470 12,590 Total funds bought forwards (excluding Fixed Assets) Total funds carried forward (excludina Fixed Assets) 189,406 2,037 5,207 196,650 203,517 1,344 259 205,120 Page 7
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD, COLLIER ROW Charity No: 1134080 BALANCE SHEET as at 31 December 2024 2024 2023 Not•s FIXED ASSETS Tangible fixed assets 433,555 432,622 CURRENT ASSETS Debtors and Prepayments Short term deposits Cash at bank and in hand 6,914 122,991 63,318 193,223 6,101 118,358 63,846 188,304 LIABILTIES Creditors: amounts falling due within one year 7,600 10,218 NET CURRENT ASSETSI(LIABILITIES) 185,623 178,086 TOTAL ASSETS LESS CURRENT LIABILITES 619,178 610,708 PARISH FUNDS Unreslricted Funds Designated Funds Designated Fixed Asset Funds Restricted Funds 203,517 1,344 414,058 259 189,406 2,037 414,058 5,207 619,178 610,708 Approved by the Parochial Church Council on 1410412025 and signed on its behalf by Signed Evans Ofoajoku (Church Signed Yvonne Johnson Ichurchwarden) arden) Page 8
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD, COLLIER ROW Charity No: 1134080 Notes to the Financial Statements for the year ended 31 December 2024 1. ACCOUNTING POLICIES Accounting Convention The PCC is a public entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCS and with the Regulations true and fair view" provisions. They have been prepared under FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of the Statement of Recommended PractlGe. Accounting and Reporting by Charities (SORP(FRS102)). The financial statements have been prepared under the historical cost convention except for investment assets which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible by law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gathering5 of church members. b. Fund accountlng Funds held by the PCC are: Unrestricted funds are income funds which are to be spent on the PCC'S gen8ral purpos8S. Deslgnated funds are general funds set aside by the PCC for us8 in the future. Project funds are designated for particular projects for administration purposes only. Funds designated as invested in fixed assets for the PCC'5 own use are abated in line with those assets, annual depreciation charges in the SOFA. Designated funds remain unrestricted and the PCC will move any surplus to other general funds. Restrlcted funds comprise (a) income from trusts or endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific PCC activity intended by th6 donor. Any balance remaining unspent at th6 end of the year is carried forward as a balance on that fund. Incoming Resources Voluntary Income Collections are recognised when received. Planned giving receiving is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies are recognised when the PCC is legally entitled to the amount due. Income fmm Investments Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. All Other Income All other income is recognised when it is receivable. Page 9
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD. COLLIER ROW Charity No: 1134080 d. Resources Used Resources expended are accounted for on an accruals basis and are accounted for gros5, apart from independent reviewer's remuneration and accountancy and grants and donations which are accounted for when paid over, or when r8warded where the award creates a binding obligated on the PCC. Support costs are apportioned to activities in proportion to the estimated proportion of time spent on those activities by the Parish Administration. Church Activities The diocesan parish contribution is accounted for when paid. Any parish contribution unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet. Assets Consecrated and beneflce property In so far as consecrated and benefice property of any kind is excluded from the statutory definition of 'charity' by Section 10(2)(a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements. Moveable church furnlshing Moveable church furnishings are not included in the accounts unless sufficient cost information is available, but all items are included in the Church's inventory. Tangible FixedAssets used by Charltyi All expenditure on consecrat8d or benefice buildings and other fixed assets costing under £1,000 are written off in the year they are incurred. The freehold land and buildings held during the year consists of the rental property at 470 Mawney Road and the Church Hall. No depreciation is provided on buildings as the currently estimated rèsidual value of the properties is not less than their carrying value and the remaining useful like of these assets currently exceeds 50 years, so that any depreciation charges would be immaterial. An impairment review is carried out at each year-end and any resultant loss identified included in expenditure for the year. Short Term Deposits These are the cash held on deposlt either with the CCLA or 8t the bank. Page 10
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD, COLLIER ROW Charity No.. 1134080 2. INCOME General Funds Designated Funds Restricted Funds Total 2024 Total 2023 a. Voluntary Income Regualr Giving other giving - Sum Up Parish Giving Scheme Loose plate collections Special collections Tax recoverable on Gift Aid Legacies Grants 56,492 9,898 56,541 10,666 56,492 9,898 56,541 10,666 53,717 6,941 59,051 12,074 944 26,652 27,680 2,898 27,680 4,898 2,000 950 160,329 164,175 2,000 166,175 b. Activlties for generating funds ¢. Income from investments Bank and building society interest Income from rental prop8rty 6,936 14,400 21,336 6,936 14,400 21,336 5,696 12,900 18,596 d. Incom8 from charitable activities PCC Fees for weddings, funerals and other Church hall letlings Youth - Ignite Youth - Destiny C&F - Starlight Boxercise Refresh {Woinen) Care & Share 811 1.000 43 811 1,000 43 827 4,712 80 2,041 45 1,843 1,843 265 3,170 7,132 265 3,380 7,342 210 210 2,061 9,765 e. Other Incomlng resourGes Income Generation MisGellaneous income Administralion 521 2,230 70 2,821 434 517 951 434 517 951 193,077 2,727 195,804 191,512 Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is entitled to use of the resources, their ultimate receipts 15 considered reasonably certain and the amounts due are reliably quantifiable. All incoming resources are accounted for gross. Page 11
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD, COLLIER ROW Charlty No: 1134080 3. EXPENDITURE General Funds Deslgnated Funds Restrlcted Funds Total 2024 Total 2023 a. Church activities M ission and Oulreach Miiiistry costs.. Diocesan Parish Share Other ministry costs Salaries and pension costs Church running expenses Church mainlenance Church insurance Church ulilities Independent examiners remuneration Pari51i trainiiig and mission Repairs & Maintenance Vicarage Repairs & Maintenance - Rental Property Music and Instruments Licence fees & Audio-visual Equipment Depreciation 24,340 75,132 3,245 26,490 11,247 15,576 3,677 9,628 1,290 135 177 1,602 269 2,581 6,131 181,520 866 4,948 30,154 75,132 3,245 26,490 11,247 15,576 3,677 9,628 1.290 135 177 1,602 269 2,581 6,131 187,334 27,293 71,231 3,607 26,584 11,872 17,840 4,163 6,444 1,367 315 1,252 611 1,702 4,641 178,922 866 4,948 b. Cost5 off ralslng funds 181,520 866 4,948 187,334 178,922 Page 12
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD, COLLIER ROW Charity No. 1134080 a. Staff costs and numbers 2024 25,726 2023 25,996 151 147 26,295 Wages 3nd salaries Social security Pension costs 294 26,020 Average number of employees During the year the PCC employed, a children's and familes worker and a church administrator. One employee Ruth Turner is a trustee and member of the PCC, she is not being paid for being a trustee or PCC member. Measures are in place to ensure no conflicts of interest arise. There were no employee benefits paid to personnel in the previous or current years. No employee was paid more than £60,000 b. Related partles, Iransactlons The stipendiary Clergy were reimbursed for working expenses, it is considered thal no malerial part of this relates to their duties as trustees. Unconditional donations from those identified as related parties amounled to £26,895 during the year made up of regular giving. Jason Frost a member of the PCC was paid £25 for an office chair for the parish office, Page 13
THE PAROCHIAL CHURCH COUNCIL OF THE GOOD SHEPHERD. COLLIER ROW Charity No: 1134080 5. TANGIBLE FIXED ASSETS Church Hall Renlal Property FF&E Tolal Actualldeemed cost Al 1 January 2024 Disposals Additions At 31 December 2024 442,568 75,000 23,205 540,773 7,064 30,269 7,064 547,837 442,568 75,000 Depreclallon Al 1 January 2024 Disposals Charg8 for the year At 31 December 2024 88,510 15,ODD 4,641 108,151 6,131 10,772 6,131 114,282 88,510 15,000 Net book amounts At 31 December 2024 354,058 60,000 19,497 433,555 At 31 December 2023 354,058 60,000 18,564 432,622 6. CURRENT ASSETS 2024 2023 Income tax recoverable PrepaymBnts & accrued income Olher deblors 3,426 3,488 3,140 3,774 6,914 6,914 7.CURRENT LIABILITES 2024 2023 Accruals & Ileferred income Independenl Examination Def8rred Income l London over the Border other creditors l Agency account 4,955 1,380 5,623 1,290 1,265 7,600 3,305 10,218 Page 14
THE PAROCHIAL CHURCH COUNCII OF THE GOOD SHEPHERD, COLLIER ROW Charity No: 1134080 . FUNDS MOVEMENTS 8a1 flfwd Income Expendilure Transfers Bal clfwd 0110112024 Other gains & losses 3111212024 UNRESTRICTED FUNDS PCC General fund 189,406 189,406 193,077 193,077 181,520 181,520 2,554 2.554 203,518 203,518 DESIGNATED FUNDS CApExSale C&S Gift 2,037 517 2,210 2,554 866 1,344 2,037 2,727 866 2,554 1,344 DESIGNATED FIXED ASSETS FUNDS Renlal Property Church Hall 60,000 354,058 414,058 60,000 354,058 414,058 RESTRICTED FUNDS Jack Petchey London over the Border St Cedds I Pioneer Hub 259 259 4.948 5,207 4,948 4,948 259 610,708 195,804 187,334 619,178 9. INSURANCE VALUATION OF THE BUILDINGS The properties owned and managed by the PCC are currently valued for insurance purposes as follows: Building Descrlptlon Insurance Valuation The Church of the Good Shepherd 470 Mawney Road Church Rental Property 13,300,000 350,823 The policy includes trustees indemnity insurance for the sum of £250,000 Page IS