CHRIST CHURCH COCKFOSTERS Christ Church Cockfosters Registered Charity No.. 1134144 Annual Report and Financial Statements of the Parochial Church Council For the year ended 31 De￿mber 2024 Christ Church Cockfosters, 1 b Chalk Lane, Cockfosters, EN4 9JQ 020 3137 5711 www.cockfosters.church Banks: Barclay5 Bank PLC Whetstone and Finchley Group 1250 High Road Whetstone London N200PB CAF Bank Ltd PO Box 289 West Malling ME19 4TA Auditors: Leaman Mattel Suite I, First Floor l Duchess St London WIW 6AN ## **2024 Annual Report for the Parochial Church Council of Christ Church Cockfosters** The members of the PCC present their annual report and financial statement of the PCC for the year ended 31 December 2024. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 together with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Statement of Recommended Practice, Accounting and Reporting by Charities [SORP (FRS 102)]. ## **AIM & PURPOSES** Christ Church PCC has the responsibility of co-operating with the Incumbent, Revd Jon Tuckwell, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Informal liaison arrangements exist with the Conventional District of St Paul’s, Hadley Wood, which forms part of the parish but has its own minister and Church Council and also with Grace Church Highlands which is a Charitable Incorporated Organisation. ## **STRUCTURE, GOVERNANCE & MANAGEMENT** The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. Members of the PCC are either ex-officio, co-opted or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. Three members are elected each year for a three-year term of office. At the first meeting of the new PCC an induction session takes place when membership, responsibilities and functions of the PCC are explained. Since the last APCM the following served as members of the PCC: ## **Ex-officio:** Rev’d Chris Edwards Rev’d Jon Tuckwell (Chair) Rev’d Jonnie Armstrong ## **Churchwardens:** Nicki Hooke Matt Lanstone (Lay Vice Chair) ## **Elected:** Mike Slevin (Treasurer) (until APCM 2024 retired early) Janet Houghton (until APCM 2025) Clare Osborne (until APCM 2025) Steve Walsh (until APCM 2025) Seun Adekunbi (until APCM 2026 Tinsae Bekure (until APCM 2026) Natalie Wardrop-Day (from APCM 2024 to APCM 2026 to replace Mike Slevin) Toks Adebiyi (from APCM 2024 until APCM 2027, Treasurer) Rebecca Slevin (from APCM 2024 until APCM 2027) Susan Quy (from APCM 2024 until APCM 2027) Vava Tsioupra (co-opted until APCM 2025) Page **- 1 -** of **1** Rebecca Slevin {from APCM 2024 until APCM 2027) Susan Quy (from APCM 2024 until APCM 2027) Vava Tsioupra (co-opted until APCM 2025) In attendance: Jessica Percival (Clerk) Deanery Synod: Tom Inman (until APCM 2026) Max Heath {until April 2024 deceased) Chitra Robson (until APCM 2026) James Quinby (until APCM 2026) Ranjit Thambyrajah {until APCM 2026) Raman Bedi (November 2024 until APCM 2026 to replace Max Heath) The PCC members are, with the Vicar, responsible for making decisions on matters of general concern and importance to the Parish including deciding on how the funds of the PCC are to be spent. COMMirrEES / ACTION GROUPS The PCC operates through a number of Action Groups which meet be￿een full meetings of the pcc.. The Finance & Standing Committee has consisted of Vicar, Churchwardens, Treasurer, Associate Vicars, and a representative elected by PCC. It is the only committee required by canon law. It has the power to transact the business of the PCC between its meeting, subject to any directions given by the Council. Additionally, the following non-statutory groups met during the year (reports available separately)- Fabric Group., Mission Action Group. SAFEGUARDING The PCC has complied with its Safeguarding responsibilities under section 5 of the Safeguarding and Clergy Discipline Measure 2016. The PCC acknowledges that it must pay 'due regard, to safeguarding guidance issued by the House of Bishops (including both policy and practi￿ guidance}. The Church Safeguarding Officer was Mr Tom INMAN., and the Children's and Vulnerable Persons, Champion was Mrs Beccy RATCLIFF during 2024. CHURCH AThENDANCE It was reported at the 2024 APCM that the number on the Christ Church Electoral Roll was 277. Of those, the total number of residents in the parish was 74. Average combined attendance across all our services during 2024 was 371 (up from 360) Average weekly online viewings during 2024 was 250 (up from 200) Easter Sunday attendance was 539 (up from 444) Christmas Eve and Christmas Day combined attendance was 670 (down from 933) REVIEW OF THE YEAR Here's my reflection on the past year in numbers. On 15th December 2024 we welcomed 1000 people through the doors of Christ Church for our Christmas Journey and Candlelit Carols- this is the busiest Sunday in recent times. 10 days earlier we had fed 92 people at our Christmas Community Lunch as our reach into the community continues to grow. The staff team grew by 1 as we welcomed a new Ministry Trainee and over 100 people have attended our three Welcome Lunches at the Vicarage in the past year. 6 years after starting our time in Genesis we finally arrived at Chapter 50, and 23 became a favourite number in church life as together we enjoyed precious time in Psalm 23. We said 5 sad but joyful au revoirs to those who went to be with the Lord, and we wonderfully baptised 7 members of the church family. By my maths we now have 190 people in our 21 Life Groups meeting during the week and St Matthew's Ponders End has grown from an initial plant team of 7 to more than 30 regularly attending each Sunday {in just 5 monthsl). Each of these numbers represents God's gracious work in and through the ministry here at Christ Church as we strive to be a spiritually healthy and relationally connected church, confidently transforming our communities with the good news of Jesus. One of the wider encouragements this past year has been the formation of The Alliance (htt s'.Ilalliancecofe.or which is a broad ne￿Ork of Church of England churches, committed to faithfully teaching the good news of Jesus Christ and contending with bishops who have rejected the Bible's teaching on human identity and sexuality. This network is seeking to find a route forwards for us to remain within the Church of England and there have been some hopeful signs. This is crucial as we reflect on our plans to refurbish the church building to equip it to continue to share the good news of Jesus over the next ￿ntUry. Our partnership with the Christ Church Trust (soon to be The Cockfosters Evangelical Trust} has become an important piece of the puzzle in allowing this sizeable financial investment to be made in a way that preserves assets for faithful gospel ministry. We realise there are many questions around this, and we will keep talking together as the project and fundraising progresses. For me though, as I reflect over the past 12 months, the standout joy has been our monthly Prayer Central gatherings (second Wednesday of each month) when we gather together as a church family to pray. Each month, as we bow our heads in prayer, l am reminded that the humble dependency of prayer is the very essence of the Christian life. Jesus says to each one of us 'Apart from me, you can do nothing" (John 15v5). And each month as we come to our time of encouragements and challenges where people share what God has laid on their heart, we hear story after story of how God is at work in people's lives. As someone reminded me last month "These really are the best hours of the month" If you've never been, do join us. I can promise that you won't regret it. Jon Tuckwell Vicar FINANCE Recognising the financial pressures of recent years, the PCC set a budget for 2024 including a balan￿ of cost cutting measures with an expectation to use £9,000 of our reserves. This reflects the continued pressure on expenditure and, whilst blessed by the incredible generosity that comes from God, our re￿nt experience of giving lagging behind inflation. In 2024, our income increased to £650,872, (prior year £596,890} and expenditure during the year was £616,231 (Prior Year £672,226). Although broadly in line with expectations, this did result in an overall surplus of £34,641. Cash in hand at 31st December 2024 was circa £175,000, which is in excess of our rese￿e$ policy. The PCC'S budget in 2024 had included a number of cuts across our church and building expenditure, common fund and mission support. Our giving is an important part of our Church Life and reflects our own hearts and God's gracious generosity that he provides for us. It is the intention of the PCC, during 2025 to reverse a number of these budget cuts. RISK MANAGEMENT During the year we continued a prO￿sS of identifying the major risks that impact on the work of Christ Church. An analysis of the existing procedures and controls in place to deal with the risks will be continually reviewed by the PCC. Action to manage the risks will be implemented as necessary. The Church's Safeguarding Policy is regularly kept up to date. Tom Inman is our Safeguarding Officer and maintains our safeguarding practices. See separate report on Safeguarding. All youth and children's leaders are either DBS (Disclosure and Barring Service) checked and trained in safeguarding, or are undergoing the training and awaiting the outcome of DBS checks. RESERVES POLICY It is the policy of the church to hold in reserves the equivalent of two months, general running costs and an additional month's salary costs. The PCC considers that our present reserves are sufficient to meet these requirements. MEMBERS, RESPONSBILITIES IN RELATION TO FINANCIAL STATEMENTS The members of the PCC are responsible for preparing a PCC annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practice). The law applicable to charities in England and Wales requires the PCC members to prepare financial statements for each year which give a true and fair view of the state of affairs of the PCC and of the incoming reSoUr￿S and application of resources, of the PCC for that period. In preparing the financial statements, the members are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP- make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the PCC will continue in business. The members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the financial statements comply with the Church Accounting Regulations 2006 and Part Vlll of the Charities Act 2011. They are also responsible for safeguarding the assets of the PCC and taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the PCC members on Thursday 10th April 2025 and signed on their behalf by.. Revd Jon Tuckwell Chair Trent Parochial Church Council Christ Church Cockfosters Financial Statements- Year to 31 December 2024 INDEX Pa Statement of Financial Activities Statement of Financial Position Statement of Cash Flows Notes to Financial Statements Independent Auditors, Report io 11-19 20-24 CHRIST CHURCH COCKFOSTERS Statement of Financial Activities for year ended 31st December 2024 UnrÈstricted RÈstriCted Total p￿Or Year In¢oming RF¥ourtg¥ Donations & Legacies 549.932 5.887 553.819 510.744 CharIta￿eACtIvllle$ 16.968 16.968 24,765 Investments 2,848 2.84 3,403 TradingActiwlies 87.668 67.668 57.978 Other 9.569 9.569 Totsi Incomi￿ ¢$our¢e¥ 646.965 3.687 650.872 596,890 Resources Used CharIta￿￿eA¢tlvllle$ 560.342 55.B90 616.231 66S,376 Governance Costs 8.850 Support Other Total resources used 560.342 55.890 616.231 672,226 Net InEunkng Iouwrq Fund Tran$fer$ In 44.387 44.387 Fund Transfers Out 44.387 44.387 Nel Incoming l Outgoing Resour¢es (before 981n￿O$s¢s) 42.2 -7.61 34,641 -75.33e Net InEunng IOuW"ry A8sel Revaluation 142.757 571,695 Net MovemE￿of Funds 65,268 177,39B 496,359 ToLal Funds Brought Fo￿ard 8BS.505 4,005 027 4.B90,832 4.394,173 Totsl Fund& C¥ded FU￿rd 950.773 4.117.168 5.067.930 4.890,532 Represented By General Iunreslrithed) 155.097 155.097 5,404 5.404 -2,516 Nin15ty Trainee5 IRe51riGtedl MIs8ion Fund IResbiciedl Support Fund IR$$tri¢tsdl 5.769 5.769 13,384 PropeTty Fund (Reslnctedl 3.991,643 1&2 Chalk Lane Fund (Designated) 780.029 790.029 767,018 SpÈcth¢ Support ID¢$ignatÈd 243 243 CHRIST CHURCH COCKFOSTERS Statement of Financial Position At 31st December 2024 ¢utrent Assets Cash 169.412 5.654 175.066 84 164 Atcount3 Rett1va￿e 21.854 21.969 74,2S0 Prttpaymenis 5.927 3,174 Total 197,194 5.769 202,962 161,596 N0￿CUrrentASSets Fixed A$$ets 790.029 4.901,418 4.758,661 IDveslmenls Total 790.029 4.111.389 4.901,418 4.758,861 NOr￿Curr8ntASg0ts A¢counts Pay¥We 34.891 34 B91 29,725 Defe￿ed Income 1.559 1.559 Total 36.450 36.480 29,725 N0￿Current Liabilthss Long Term Loan l Mortgage Total Nei CutteniAssÈts 160.744 5.769 166.512 RÈwesefr)tedBy General IUnr¥stri¢￿dl 155.097 1S5,097 121,003 Building5 Fund IDe51gTratedl 5.404 5.404 -2,516 Ministry Trainees (Reslrictedl Mission Fund IResth¢tedl Support Fund (Reslrictedl 5.769 5.769 13,384 PropeTty Fund (Reslndedl 5.991,643 ¢halk Lsne Fund (Designated 790.029 790.029 767,01B Specffjc Support IDesignatedl 243 243 Signature These accounts have been approved by the trustees, and are signed on their behalf by.. Name Revd Jon Tuckwell Signature Dale 10 April 2025 CHRIST CHURCH COCKFOSTERS Statement of Cash Flows for year ended 31st December 2024 PdorYe41 Cash Flowfrotn Operating Activities 177,398 AdJuStrnet￿ Fw." Fixed A$$• Depre¢iation Less Investment GaiDs Aecounts ReceivatrAe Decrease 52.289 Prtpayments De¢rea$* -2,753 Accounb Pay?￿e Inuease 5,166 Deferred Income Increase 1.559 Less Interest Recelved -2,848 Le$$ S¥le olAs$et$ Less As5el Revaluation -142,757 Loan Interest Paid NETCash Flwfrom Op8r81ing Act￿ts8 88.064 Gash Flowfrorn Investing Activities Interest Received 2.848 le$ ¢1Asse Less Purchase ofAssets Relum ol Investrnents Les$ Money Invested 184 ash Flowfrvm Flnanclng Actfvfties Loans Rettived L6s$ Loan R¥payments 90,902 84,184 Cash ai end of period 175.066 Represented By.. Gen8ral IUnrèslriu6dl 1fj3,364 Buildings Fund (Designatedl 5.404 Ministry Trainees (Reslrictedl Mjssion Fund IReslncted Support Fund (Reslrictedl 5,769 Property Ftsnd IRe31Yictedl 1& Chalk L8ne Funo IDe$ignatedl Specffic Support IDe51gnaledl 645 175.066 10 CHRIST CHURCH COCKFOSTERS Notes to the Financial Statements for year ended 31st December 2024 1. Accounting Policies Basis of Prgparation The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounts Regulations 2006 governing the individual accounts of PCCS, and with the Regulations "true and fair view provisions, together with thè Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 as the applicable accounting standards and the Statement of Recommended Practice Accounting and Reporting by Charities ISORP IFRS 10211 The PCC is a public benefit entity within the meaning of FRS 102 The members of the PCC have considered all available information about the future and will ensure that the Church has adequate resources available lo finance its activities and other obligations during the course of the next twelve months and, therefore, no material uncertainties have been identified by the members that may cast any significant doubt about the ability of the Church to continue as a going concern. Going Concern The members of the PCC have considered all available infomialion about the future and will ensure that the Church has adequate resources available lo finan￿ ils activities and other obligations during the course of the next ￿e1ve months and, therefore, no material uncertainties have been identified by the members that may cast any significant doubt about the ability of the Church to continue as a going concern. Key Risks & Uncertainties The charity is exposed to various risks, including operab'onal, financi81 and reputational risks. The Iruslees review the charity's activities regularly to identify signifieant risks and, where possible, they take appropriate measures to mitigate those risks. Fund Accounting Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the Iruslees, at their discretion, have set aside resources for a specific purpose. Restricted funds are funds which are lo be used in accordance with specific reslricb.ons imposed by the donor or the term of specific appeal. Further explanation of the nature and purpose of each fund is included in the notes to the accounts. Restricted - Christ Church House Fund - Comprises the insurance value of Christ Church House which is regarded as being funded originalty by specific gifts of a reslriclive nature. Unrestricted but designated - 1 & 2 Chalk Lane Fund - comprises the insurance value of 1 & 2 Chalk Lane. They were funded by a mortgage which was repaid out of unreslricled funds. 11 The financial slalements have been prepared under the historical cost convention except for the valuation of investments and properties which are shown al fair value and insurance value respectively. Incoming Resources All incoming resources are recognised once the charity has entitlement lo the resources, it is probable that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. All voluntsry income from members of the charity are recognised as donations and are included in full, with associated Gift Aid receivable in the Statement of Financial Activities. Grants where enlillemenl is not conditional on the delivery of specific performance by the charity are recognised when the charity becomes unconditionally enlilled to the grant. Income resources from charitable trading acts'vities such as the letting of the building are accounted for when invoices are drawn up las at the point of enlillemenll. Donated servi￿$ and facilities are included al the value lo the charity where this can be quantified. Gifts in Kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Volunteer time, the value of voluntary support for the work of the charity, is not included in the accounts bul is described in the Trustees Annual Report. Investment Income is included in the accounts when receivable Collections 8re recognised when received Amounts receivable under gift aid are recognised only when received. Income tax recoverable on gift aid donations is recognised when the income is recognised. Grants and legacies lo the PCC are recognised only when received. Share giving is recognised al the market value when the shares are transferred. Resources Expended Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or conslruclive obligation committing the charity lo pay out the reSoUr￿S and the amount of the obligation can be measured with reasonable certainty. Govemance Costs Governance costs inelude costs associated with the independent examination of the financial statements, compliance with constitutional and slatulory requirements and any other expenditure incurred on the strategic management of the charity. Governance costs are shown within 'Analysis of Expenditure, note. Llablllty Recognltlon Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. 12 Tangible Fixed Assets Consecrated land and buildings and movable church fumishings. Consecrated and beneficed property is excluded from the accounts by S.1012)lal and Icl of the Charities Act 2011. No value Is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal Sin￿ the PCC considers this to be inalienable property. All expenditures incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether Maintenan￿ or improvement, is written off when incurred. Other land, buildings, fittings and equipment other land, buildings, fillings and equipment are regarded as inalienable property held on special trust on behalf of the PCC. The freehold of Church House and the leaseholds of 1 and 2 Chalk Lane are shown in the balan￿ sheet at their value for insurance purposes . The surplus arising on revaluation each year, arising from the index-linking of insurance policies, is added to the relevant funds. No depreciation has been provided due to their very long lives and high residual values. The fixtures and fillings are shown by way of note with no value being incorFX)mted in the financial statements. Any expenditLJre on maintenance or repairs is written off when incurred. Fixed Assot Investmgnts Investments are valued at market value as at 31 December 2024. Current Assets Amounts owing lo the PCC al 31 December 2024 in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove un-collectable. Penslons The charity operates a defined contribution pension scheme. Contributions are charged lo the statement of Financial Activities as they become payable in accordance with the rules of the scheme. Operating Leases Rentsl charges payable under operating leases are charged on a straight-line basis over the terms of the lease. Taxation The charity is exempl from tax on its charitable aclivilies. Judgements and Key Sources of Estimation The trustees do not consider that there are any material SoUr￿S of eslimalion or uncertainty al the balan￿ sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period. In preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant.. The annual depreciation charge for property, plant and equipment is sensitive lo changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances. 13 The constructive obligation for grants payable is based on an assessment of the likely duration of the supported activity. This estimate is re-assessed annually, and the obligation is adjusted lo reflect current expectations. Concessionary Loans The charity initially recognises and measures concessionary loans at the amount received or receivable. The carrying amount is adjusted in subsequent years to reflect repayments and any accrued interest. 14 2. Analysis of Income u￿r￿striCted TDtal Incoming Resources Donations & Legacies Donations 451 787 3.635 455.422 424.950 tsIftAid 97,903 252 98.155 85.794 Grants Charitable Activities Event Income Invesknents 2.848 2.848 3.403 Tradlng Actlvltles Rental Income 14.438 14.438 les 53.230 53.230 Oth•r Other Income 9.5eg 9.569 646.985 3.887 650.B72 596.890 3. Analysis of Expenditure R¢striGtod TDtal Rg¥our¢e$ U¥ Activities 29.951 29.951 40.095 13,356 13,356 14.195 Gifts Given 4.178 47.590 51.768 46.784 Okner Expenditure 130.903 8.300 139.203 99.078 Premises 109.392 109.392 21S.400 Staff Costs 265.661 265.661 249.424 Govemance Costs Governance Costs 6.500 6.900 6.250 TD131 re50uYces used 560.341 55 890 872 228 4. Anatysis of Net Assets Between Funds Unr•stylct•d prtoryggr Cu￿nt Asset$ 197.194 5.769 202.962 161,596 NotFCurrentA55ets 790.029 4.901,418 4.758,661 Cutrent Lia￿lItIeS 36.450 36.450 29,725 Totsl NètAs8Éts (A886ts Minus 950.773 4,117,15B 4 B90,532 15 5. Volunteers The charity benefits greatly from the voluntary contributions of time and money. Please refer to the trustees, report for further detail about volunteer contributions in the organisation. 6. Auditors, Remuneration The auditor's remuneration conslituled an audit fee of £8,90012023". £6,250). 7. Stsff Costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Gross wages and salaries Social security costs Pension fund 204,978 12,167 6,395 196,978 10,886 5,666 223,540 213,530 The average number of employees during the year was 912023'.9}. No employees received salaries al a rate of more than £60,000 per annum. 8. Key Managemont Personnel The Parish considers Jon Tuckwell (Chairman) as ils key management personnel, and he had no employment benefits including employer pension contributions. 9. Trustee Remuneration Vava Tsioupra was paid as a full lime Operations Manager and Tom Inman as a full lime Children and Families. Minister during 2024. Nicki Hooke is married to David Hooke. David's work is supported by one of our mission partners The Asaph Trust. There were no other disclosable transactions in respect of PCC members, persons closely connected with them, or other related parties. 10. Trustee Expenses During the year the 4 of trustees incurred oul-of-pocket expenses tolalling £17,598. All expenses were incurred for the day-to-day running of the charity's activities. 11. Trustee Donations During the year the total aggregated donations made to the charity by the trustees was £163,441. There were no conditions attached to the donations. 12. Tanglble Flxed Assets 1 &2Chalk Christ Church Hous8 Restricted Freehold 3,991,643 119,746 £4,111.389 Lane Unrestricted Designated 2024 2023 Leasehold TOTAL TOTAL 767,018 4,758,661 4,186,966 23,011 142,757 571,695 £790,029 £4,901.418 £4,758,661 Value as at 1 January 2024 Unrealised gain Value as at 31 December 2024 The PCC owns the following properties in the legal name of the London Diocesan Fund, held on trust for the PCC". The freehold of Church House (shown at insurance value}, and Leases of 1 and 2 Chalk Lane for a period of 99 years from 24th June 1965 (shown at insurance value). The Church building and vicarage, as consecrated property, do not belong to the PCC. The Church was Insured for £7,692,72612023' £7,579,792) while responsibility for the vicarage rests with the diocese. 13. Debtors Accounts Receivable De5crlptlon Amount GifLAid 20.243 Tr2de Debtors 1.728 21.98? Prepayments Amount p￿P*YrnEnt$ 5,927 5.927 14.Creditors Accounts Payable Des¢ription AmDunt ccruals 34.125 Tax & so￿al Secunty Trade Creditors 766 34.891 Deferred Income Descrfptlon Amount Deferred Income 1.559 Total 1.559 15. Analysis of Charitsble Funds Futhd Namp Income Ex enditure Fund Transfers Balan¢e Unrestrlcted e34.409 555,929 -44 387 155.097 Tot 634,409 555,929 44,3B7 155.097 DeslgTrated BU1￿1ng5 Fund (Designated) 9,720 1,800 5.404 1&2 Chalk Lane Fund (Designated) 767,018 790.029 specif￿ Supwrt (Designa￿￿) 2,856 2,813 243 Tot 7fj4,502 12,576 4,413 795.676 Unreslncted Total 885,505 646,985 560,342 -44,S87 950.773 R￿t￿tt•d 8,30 8,30 (Restricted) Mission Fund (Restricted) 1,183 37,250 38,088 Support Fund (Restri￿e0 13,384 2,725 1Q,340 5.769 Property Fund 3.991.643 s$ 4,005 027 3,8a7 55,890 44,387 16. Fund Transfers DB8criptiDn FrDm Amount Fund Tr?n$lwb ¢overMi$*on Fund Deficit Genèr$1 Mis¥ion Fund 36.08 Fund Transferto coverministy Trainee Fund Defiul General Ministry Trainees 8.300 17. Fund Descriptions NèmÈ General This represents ihe funds ol the P¢¢ thai artt not subie¢t ￿ any re$tri¢tions re9ardiny their use and artt8V8IiAWe yttneral use To pay fDr Improvetnents lo Church property Ministry Traineps This fund is lo sUPPQrt apprent￿e& appointed bythe Church ￿adErship lorlraining In Chnsban tninislry and lor serving wihin specified atbd general areas ofthe church's lrfe and to assislwilh living expenses and rea50nab church ministry expenses. MissK>n Fund This fund 15 forthe sUp￿rt olour mission parkners. Support Fund This fund is for the Sup￿ 01th0se In hardship. Propety Fund Re51denlial property assets- Compriseslhe Insurance value ol Christ Church House which Is regarded as bein9 Spe¢lfi¢ Supwrt Donabon$ ¢olle¢*d lor re$th¢ted purpose$ in $pecth¢ Support ¢1 Indivlduals or ory8nisabon$ 18. Transactions to Related Parties There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related Pa￿'eS. 19. Penslons The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. Independent Auditor's Report to the Members of Trent Parochial Church Council, Christ Church Cockfosters Year ended 31 December 2024 Opinion We have audited the financial statements of Trent Parochial Church Council, Christ Church Cockfosters for the year ended 31 December 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally A¢￿pted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the church's affairs as at 31 December 2024 and of its incoming resources and application of reSoUr￿s, including ils income and expenditure, for the year then ended., have been properly prepared in accordancE with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Church Accounts Regulations 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI IISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the church in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the members, use of Ihe going oncern basis of accounting in the preparation of the financial statements is appropriate. 20 Independent Auditor's Report to the Members of Trent Parochial Church Council, Christ Church Cockfosters (continued) Year ended 31 December 2024 Based on the work we have perfomied, we have not identified any materTal uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the church's ability to continue as a going concern for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the members with respect to going con￿rn are described in the relevant sections of this report. Responsibilities of members As explained more fully in the members, responsibilities statement, the members (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine is ne￿$sary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the members are responsible for assessing the church's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the church or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these financial statements. 21 Independent Auditor's Report to the Members of Trent Parochial Church Council, Christ Church Cockfosters (continued) Year ended 31 December 2024 Irregularities, including fraud, are instances of non-compliance with laws and regulations. We esign procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations., we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operation of the church, including the Companies Act 2006, Charities Act 2011, data protection, employment, environmental and health and safety legislation., we assessed the extent of non-compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence-, making enquiries of management as to where they considered there was susceptibility to fraud,their knowledge of actual, suspected, and alleged fraud,. considering the intemal controls in place to mitigate risks of fraud and non