Parish Church of St James with St Matthew St James's Lane Muswell Hill London NIO 3DB Reg. charity 1134716 Annual Report and Financial Statements for the year ended 31 December 2024 Incumbent: The Reverend Chris Green Statutory auditors: Lakin Rose Limited Chartered Accountants Cambridge CB3 OQH Bankers: HSBC Bank plc Muswell Hill London NIO 3RX Parish Church of St James with St Matthew, Muswell Hill Year ended 31 December 2024 Pages ststement Description Describes the activities of the PCC and related committees with particular attention to the financial activities of the Parish. This summarises the financial responsibilities of Parochial Church Councils. Where the auditors give their opinion on these financial statements; in particular, whether they comply with the various accounting rules and regulations applicable to the Parish. This summarises the income and expenditure of the Parish, across all its funds, for the year 2024. Thi5 sets out the Parish's various asset5 and liabilities at that date. This summarises the cash flow generated and utilised by various activities during the period. These provide additional detail on key elements of the Statement of Financial Activities and Balance Sheet. 3-15 Annual Report 15 Summary of a PCC'S Financial Responsibilities 16-19 Independent Auditor< Report 20 Statement of Financial Activities for 2024 21 Balance Sheet as at 31 December 2024 22 Cash flow statement for 2024 23-27 Notes to the Financial Statements Parish Church of St Jame5 With St Matthew, Muswell Hlll Year ended 31 December 2024 Bac Overall, my view is that this has been a positive year for St James. The church family is growing in numbers. including some brand-new Christians. One new micro-trend is people coming who have become Christians through watching material online and then finding us physically. As always, we have seen the emotional highs and lows of births, weddings and sad-but-hopeful funerals, great surprises and vicious shocks. Our central plan in all this is not to remain untouched by all these events but to keep our eyes on the hope of the gospel. God planned the lastyearfor us, and he has planned theyearahead. As Paul wrote to the Philippian Christians. Whatever happens conduct yourselves in a manner worthy of the gospel of Christ. Then, whether I come andsee you or onfy hear about you in my absence, I will know that you standfirm in the one Spirit, striving together as onefor thefaith of the gospel {Philippians 1:27}. Love and unity in and around the faith of the gospel is the goal. 8.00 still regularly attracts 10-15 people, but this goes with a widening pool of people coming, and slightly less every-week attendance. It will be interesting to see what happens to this as the morning5 brighten and warm. Our elderty members are extremely grateful for the external and internal handrails. 10.30 is visibly growing, although the pattern is still that a high percentage of those attending arrive between 10.30 and 11. Since most of those are young families. ivs simply good that they made it out the door and into church. But you may have noticed additional chairs being put out as the service progresses. A significant pressure point will be keeping safe ratios for Children and Youth provision in a context of growth, and therefore the need to recruit additional leaders. when the team is already stretched in Alice's absence and without a key leader to do the recruiting. Wilson is covering both Kids and Youth leadership, but he is at Birchwood during the morning Se￿iCe as Younger Youth has outgrown the vicarage. We don't want to have to turn a new family away because we don't have a large enough team. The Gathering is also growing. The age range is broad, but the growth points are around Older Youth and Young Adults, and that sets the default as a younger and single (or married without children) vibe. It also sets the agenda for our teaching. which needs to be targeted at a less informed or spiritually mature body. Staffing. Three new member5 of staff have come fully on board. while two are on leave. Zainab Saccoh demonstrated herself immediately as competent and innovative Financial Controller and has introduced new processes that have streamlined our financial reporting. Wilson Weaver joined us as Youth Minister and has seen both stable growth and one significant move of Younger Youth to the Birchwood. Devon Hore is leading music and. with Chris and Mark. is overseeing The Gathering. There are new musicians of various kinds coming forward. and he's looking to integrate them into our existing patterns and enrich them as well. Alice Shaw is on maternity leave. but she. Nathan and Sophie are coming along in the morning. Ellie Lyon continue5 on sick leave. and we look forward to welcoming her back. Parish Church of St James with St Matthew. Muswell Hill Year ended 31 December 2024 Everyone IYS an obvious thing to say, but it needs saying- everything that happens at St James takes teams and teams to make them occur, whether iys the committees responsible for finance, buildings and world mission, the kids, youth, or older members groups, all the communities ministers, the music, the grounds and buildings, safeguardin& firstaid-the list is endless. Some of those are hidden, some have brilliant highlights, like all our musicians and singers at Christmas, some are quietly competent and easily taken for granted, like the sound, camera and tech teams. Thank you, everyone, for the part you play in making St James an active fellowship of loving disciples. Looking back over a busy year, two highlights stick out for me, both of them having exciting challenges in the year ahead. Wision Weekend This wasn't in my mind last Annual Meetin& but it became increasingly clear in early summer that we needed to revisit our values as a church family and lean into them. In particular, we need to highlight the idea of Belonging. We are divided into three congregations, and with lots of new faces, and we need to reinforce friendships and relationships. I'm looking forward to more Bring and Share events (morning and evening), and more deliberate connections. One challenge here is to integrate newer members into a small group structure, and into patterns of serving, without assuming they know what we do or where we meet. The second challenge 15 to make sure that all our members feel valued and part of what we are doing. The PCC is setting up a team to connect with every household at St James. Evangelism I'm very struck by the passion of the evangelism team, and the way they have taken the challenges of street conversation5 and door-to-door work. They are also keen to develop what we do. One chollenge is developing digital evangelism. We shall shortly be pioneering some new pathways around The Gathering by recording some street interviews, stories and resources with particular questions in mind. Those will be available online, drawing people towards themed senlices which will connect with those questions. A second challenge will be our Mission Week, June 28 - July 6. We have two gifted evangelists booked for the respective weekends (Glen Scrivener and Roger Simp50nl, and we are beginning to form a team to plan the events around those two. The countdown into the week will have some practical training {the Gathering has already helped us to identify the most obvious areas for that) and there will be follow up aftep¥vard5. Wider concerns One aspect of our life together concerns our denomination. and that increasingly troubles me. If you've seen the headlines or Channel 4 coverage about the Makin Report, you'll not only know that this describes the present impact of some historic abuse, but that this comes as the latest in a sequence. This has not only produced the resignation of the Archbishop of Canterbury, but continues to rock General Synod, the College and the House of Bi5hop5, the Archbishops. Council. It is widely observed that confidence in our denominational leadership is extremely shaky and probably at an unprecedented low. I'd be surprised if there were not more revelations, and resignations, to come, and I'm afraid that process will tarnish the Church of England's reputation further. Note.. if these stories affect you directly, I'd point you to Safe Spaces for support: htt safes acesen landandwales.or Parish Church of St James wlth St Matthew. Muswell Hlll Year ended 31 December 2024 That aside, the House of 8ishops is still proceeding with plans to increase blessings for same-sex relationships. The crisis over safeguarding hastemporarily slowed the process down, but the direction of travel is still clear. I realise that like any church, St James contains a range of views. However, Mark and I remain of the view that the biblical tradition St James holds as central requires us to maintain that the only place God has promised to bless sexual relationships is within male/female marriage. I'll happily talk that position through with any of our members. I want to keep Stjames in line with a wide range of similarly-minded evangelical and Catholic churches htt alliancecofe.or I who do not want the position on human sexuality to change. Our PCC is monitoring developments closely, and discussing our differences Wlth care. I know my view represents the historic position of St James, and that is the position I promised to uphold at my ordination. and again when I became your vicar. There is a high likelihood that there will be some major realignment within the Church of England on this position in 202516. with international implications if the new Archbishop of Canterbury is supportive of same-sex marriage. Preachin Series At the start of the year we were in Matthev/s gospel- looking at chapters 16-20 as Jesus predicts his death. Over Lent we looked at the issue of Perfectionism. Over the Spring we began a series in Romans, preaching through chl-7. Then in the Autumn we slowed right down to enjoy the treasures of Romans 8. Over the summer our focus was on Psalms-the songs that Jesus sang. Our All-Age teaching series was on Daniel. The preaching at The Gathering also included a number of evangelistic and apologetic talks addressing issues of suffering, happiness. the Bible. what is the Trinity. At the 8:00am seniices. we mostty followed the lectionary. but also included some talks from Book I of the Psalms. ecial Events The year began with a brand-new Alpha course. starting on 9 Jan and running for eight weeks; and on 19 January our Youth Ministry headed up the Big Weekend, exploring from God's Word what it is to be human. as well as sharing meals. building and strengthening friendships, and having fun. On 28 January, local churches came together at The Gathering for an uplifting evening of 'Prayer and Praise., Anya led a trip to the British Museum for St James Youth on 3 February, looking especially at artefacts that relate to people and events from the Bible. Lent ended with a stirring Passion Play performed in church by Riding Lights. called Yhe Narrow Road., On 22 April, Archdeacon John Hawkins came for our tri-annual *lisitation' and was pleased to see all the paperwork and procedure5 in order. Parish Church of St James with St Matthew. Muswell Hill Year ended 31 December 2024 We had the first of our Bring-and-share lunches on 28 April, an opportunity for church family member5 to share lunch in the Centre after the 10:30am service. 'Sorted Nano, on 11 May brought together St James, 11-14s and theiryouth group leaders with hundreds of others to deepen their understanding of the Lord Jesus, through talks from Psalms 1, 2, and 3. This event was held at St Helen's, Bishopsgate. The following evening Resound Worship presented a concert called 'Downcast Souls, Expectant Hearts., Joel Payne, a former Worship Minister at St James, led the band in new songs to enrich our worship. 21 July saw our annual Hog Roast in the Vicarage garden. The sun shone, and the event happily brought together many church family members. On 10 September, Chris began a Marriage Course which ran for six consecutive weeks. Our Vision Weekend was held from 15 to 17 November, an opportunity for church family members across the Services to share fellowship and ideas, based on the theme of 'Belonging.' We enjoyed a busy Christmas season hosting the 'Christmas Experience, and being pleased to hold all our familiar services. Music Minist {August- December) It has been encouraging to see the Lord at work in our music team. We held a music team barbeque which was encouraging in September. Relationships are slowly beginning to form. We have also had a few new members join our church in the past few months (Odoro. Cayley, Rachel, Ilias). The vision weekend was very encouraging to hear our church lift their voices in son8 both on the Friday evening and Saturday morning backed by the game plan for 2025. December wasfull-on and it waswonderful to see so many people step up and serve beyond their usual hours of serving. Contemporary carols was relaunched again after a gap of lyear, and the gospel was proclaimed boldly through the readings, songs, a testimony and preaching. We had over 140+ people attend. It was lovely to see the majority stay behind afterward and chat over mince pies and hot chocolate and snacks. We have introduced 3 new congregational 50ng5 since August which the church has caught on to and is singing well {Behold him, All Sufficient Merit, How great {Psalm 14511. We have introduced some helpful technology to the bands (digital music sheets and iPads) and some new 50ftware forthe tech team which has helped our evening services. Overall it is still early days, but praise God forthe small little things he has done. I do pray that in all we do upfront, we do so in humility because of what Christ has done for us. Parish Church of St James wlth St Matthew. Muswell Hlll Year ended 31 December 2024 Communi Minlst Ellie Lyon has done a wonderful job of heading up ourcommunities Ministries over 2024. James, Place on Monday evenings continued to be a place of warm food, and even warmer friendships. The church remains thankful to COOK for providing meals and to the volunteers who set up and serve all who attend. On Tuesdays, Community Café. brings together all walks of life from Muswell Hill for hot drinks and cakes and pastries. This is rounded off with homemade soup catered by the group from Barnet team of adults with additional needs. The midday Thought for the Day continues to point all who attend to Jesus, and it has been wonderful to have Steven Steppens share his testimony as part of that. Tea Time for seniors continues to go from strength to strength with a variety of different speakers and activitie5 every Wednesday in term time. Sadly, Ellie had to go on long term sick leave towards the end of the year, and she has been sorely missed both in these midweek ministries, and also the very many ways that she has connected individually through home visits and phone calls and general assistance. And of course all are thankful for the many, many volunteers who give up their time to serve and support in all manner of ways. We continue to thank God for Ellie's leadership over 2024 and pray for her recovery in 2025. WAVE: We're All Valued E ual .. those parts of the body that seem to be weaker are indispensoble I Corinthions 12.-22 WAVE Church (a Fresh Expression of St. James) continues to be a vibrant and welcoming comrnunity, where adults with and without learning disabilities enjoy growing in faith and friendship together. Approximately 40 of us meet at 4pm on the second Sunday of each month {apart from August) at the Methodist Church in Muswell Hill. Our mixed-ability team plan and run relaxed. inclusive services where we learn more about the love of Jesus, using accessible language, Makaton signed singing, interactive teaching and prayers. Across this past year we were excited to welcome 28 visitors from around the country, who were interested in experiencing or replicating worship meetings where people of all abilities contribute (doing things with and not for each other) and feel equally valued. In October we partnered with London Diocese to run an immersive workshop in central London for clergy and lay leaders who have a heart for making their communities more inclusive. We were also honoured that WAVE Church was included as one of fNe locations visited by local and national Church leaders as part of the Archbishop's London Prayer Day- more than 70 of us shared lunch together and reflected on the challenge of praying through 'hard prayers,. Everyone left with a gift bag of WAVE hand-shaped biscuits and a reminder {1 Thessalonians 5: 16-18) 'to be full of joy and not give up prayin¥. We are grateful for the safeguarding and prayer support provided by St. James, that enables WAVE Church to remain a place of Safety and comfort for those of us who regularly come each month and those who pop in occasionally when in need of encouragement and reassurance of God's love for them. Parish Church of St James with St Matthew, Muswell Hill Year ended 31 Decernber 2024 Our prayers for this coming year are that our faith will be strengthened by the variety of major and minor Bible characters whose stories provide us with relevant and applicable life lessons thankfulness for our faithful mixed ability team and that each member will be refreshed in spirit that God will provide new team members, so that we can respond well to opportunities to share the blessings of mixed ability worship more widely, as part of wave-for-change.org.uk. Children's Minist This ministry is led by our Head of Children's Ministry Alice Shaw. currentty on Maternity Leave. She ha5 a wonderful team of competent volunteers for whom we are very thankful. Children's Ministry Groups Promiseland (4-IOs) Promiseland is our provision for children who are 4-10 years old. Alice ha5 a team of about fifteen leaders. In this group we care about getting to know the kids well and we prioritise teaching the Bible exegetically and creatively. In these sessions. we worship together, listen to one of the team members teach the Bible, play a game, do craft and discu55 the passage in groups. As most of the team serve weekly, they get to know the children really well. Promiseland Junior {IHs) Promiseland Junior is our provision forchildren who are O-4 years old. Alice has a team of about fifteen leaders. In this group, we care about making the little ones feel loved and well cared for so they have a posltive experience of church at a young age. Each week we prioriti5e teaching them the Bible in an age-appropriate way. In these sessions we welcome and play with the children, teach the Bible, sing songs together, and do a craft. Inclusion Inclusion is our provision for children with additional needs. Helen Watts does a brilliant job leading this ministry. There is a group for young people to meet together and some of the children access the mainstream Promiseland group with the support of a one-to-one leader. Bumps and Babes This is our group for parents and carers and their babies. Each week on Wednesday mornings we welcome parents, carers and their babies to our church. The babies have a chance to play, the parents and carers have the chance to chat, and we finish each session with some Christian songs and a thought for the day from the Bible. Events: Lent began with a Pancake Party for the after-school club, Word on the Hill. The children of St James were treated to a concert, when Michael finker visited on 7 June. The school holidays finished with a Holiday Club for the children. based on the book of Jonah. The children learnt about a sending God. a saving God and a forgiving God while playing games and having plenty of funl Alice hosted a discussion on the book"Raising Confident Kid5" by Ed Drew on the 3 October. Parlsh Church of St James with St Matthew, Muswell Hill Year ended 31 December 2024 Youth Minist Older and Younger Youth were served well during an interregnum in the first half of 2024. Consistent, servant hearted, and faithful volunteers helped the Youth of the church continue to hear from God's word, join with other churches for socials. attend networking events such as SORTED Nano, and attended a variety of summer camps. Young people were also serving in different areas of the church. both on their own and with their families. A new youth minister was appointed during the summer and began a series on the Church Body on Sundays where members of the church visited to share about how they are part of the body of Christ. This encouraged more service in ministry areas such as James, Place, Besom. Wave. Music Ministry, Promiseland, PU, sound, Leadin& Reading and Welcome. There has been a reset of Friday Youth, which went through the 321 course and is beginning a Bible Overview. There is also a continuation of partnerships such as The Big Weekend, which studied Luke 12, "Unite" partnerships, and events such as SORTED. This is due to the incredible service of various new volunteers, who are also enabling a restart of midweek Bible studies and mentoring. We've also built up a connection with the Hong Kong Council group. and enjoyed multiple welcoming events for their group which will ideally grow in witness. The church has also taken assemblies and run sessions with the Year 75 from Fortismere, and has had the opportunity to share the gospel and invite them to Youth. There has been the privilege of taking students from Blanche Nevile school round the church. sharing the gospel and showing them how we worship. There are also young people being baptised as a result of faithful evangelism and discipleship from parents. schools, open air outreach, and online discipleship. Pray for them as well as the young people of the church to grow in their belongin& and that they share Christ with their friends and continue in their service of Him into adulthood. Women's Minist The emphasis in Women's ministry is about enabling, encouraging and supporting one another in developing and deepening a relationship with God. our Lord and Saviour. It typically involve5 studying the Bible together: prayer; mentoring: discipleship; retreat, conferences, and outreach. Events There have been a number of outreach and 'in-house' events over this past year attended by women from across the congregation. These included a women's social event on 16 May. an informal evening of fellow5hip- sharing desserts. drinks and encouraging conversation. and a Women's Brunch on 30 November, when we used the words of Mary's wonderful song, the Magnificat, to help Us look back to the first Christmas with wonder and look forward to a time when God will fulfil all those expectations in the kingdom of heaven. Parish Church of St James with St Matthew. Muswell Hill Year ended 31 December 2024 Women's Focus/pastorate FOCUS is a weekly bible study group for women of all ages which aims to grow our love of God by reading His word and praying together as well as building friendships and encouraging one another in our faith. FOCUS meets on a Thursday morning and has three groups that meet in the church building, and one other group that meets online. Women's discipleshlp One-to-ones and prayer ministry continue. Su ort Team Throughoutthe year the SupportTeam continued to offer the best 5UPPOrt possible across all ministry areas. In 2024, there were 393 on the electoral roll. Our DBS Administrator, Jean Airey, supervised the administration of 19 DBS checks: 17 for those working with children. I for those working with adults and I for both. During 2024 there were 2 weddings. 2 infant baptisms. 5 baptisms of young people, 5 of adults and 5 funerals. The team continued to administer bookings at the Birchwood Centre, where there were 8 regular weekly bookings. The income frorn regular and one-off bookings (including the receipts from the Preschool} came to a total of £44,472. Income from bookings for St James Church (not including weddings) was £6,955. St James Prima School It remains a joy to be in partnership with our church primary school, St James. Staff continue to take weekly collective worship using the Picture News resource that provides greater continuity between church and school led assemblies. A big highlight continues to be the visits to church for Harvest, Christmas, Easter and at the end of the school year. The youngest years visited the church for the Christmas Experience which they thoroughly enjoyed. In partnership with Pathway, the church run5 Pathway Club as a weekly after school activity-the majority of children come from St James. Over the year the numbers attending have more than doubled. Mark has continued in his role a5 Foundation Governor, and other church members are involved on the Governing Board helping to maintain the school's distinctive Christian ethos. Eco St James- Carin for God's Creation The PCC acknowledges the Church's responsibility of Creation Care and commits to acting this out in all areas of life of St James. Deane S nodRe ort Deanery Synod met in February 2024, to discuss violence against women and young girls: a presentation about this wa5 circulated soon after the meeting of Synod. The next meeting was in June, to greet the new Bishop of Edmonton. There was to have been a Deanery event in July 2024 to train new PCC members on Safeguarding using the online materials available, but this was postponed. In November, Benjamin Kerridge, Vicar of Holy Innocent<, Hornsey, was appointed Area Dean. io Parish Church of St James with St Matthew, Muswell Hill Year ended 31 December 2024 Church Leadershi and Oversi ht pcc Incumbent: Revd Chris Green (Vicar) Other ministers.. Revd Mark Murthen (Associate Vicar) Wordens: Dave Williams Debbie Wright Other representotives on the Deanery Synod (in addition to the Wordens): Ajay Gohil Caroline Streets-Law Gillian Dunkeld {re-elected May 2024) Gina Titheridge (re-elected May 2024) Other members all elected unle55 Otherwise indicated.. Celia Eldridge David Airey Gregory Yap Helen Watts lan Whitehead (Hon. Treasurer from May 2024) Jeff Skinner Jessica Glencairn-campbell Katharine Allenby Nigel Young Patrick Haines Steve Sexauer These members were elected in Moy 2024 Guy Carter Lydia Bartlett {re-elected) These members stood down in Moy 2024 Jonathan Stone (Hon Treasurer) Ex-officio members Carolyn Ritchie (Safeguarding Officer) Gabrielle Moris {5ecretary) PCC Sub-committees The PCC operates through a number of sub-committees, which meet between full meeting5 of the PCC. These sub-committees comprised the following people Since the Annual Parochial Church Meeting { APCM") in April 2024 (See the 2023 Annual Report and Financial Statements for sub-committee membership up to that date): li Parish Church of St James with St Matthew, Muswell Hill Year ended 31 December 2024 Standing Committee This committee manages the necessary business of the PCC between its meetings, subject to any directions given by the Council. It comprised Chris Green {Chair), Mark Murthen, Dave Williams {Churchwarden), Debbie Wright (Churchwarden), Jonathan Stone {Hon Treasurer till May 2024), lan Whitehead {Hon Treasurer from May 2024} and Lydia Bartlett. Finance Committee This committee oversees the financial affairs of the parish, by monitoring income and expenditure, cash flow, budgeting and accounting. Its members comprised John Waters {Chairl, Jonathan Stone, Jonathan Thornton (stepped downl, Gina fitheridge, rim Bartlett, Alison Tyndall, Seb Butter (stepped downl, Graham Wright and lan Whitehead (joined). Buildings Committee The Buildings Committee is responsible for maintaining the parish church itself, and all its associated buildings, including staff housing. Its members cornprised Chris Law (Chair), Ruth Greenwood (Vice Chairl, Louise Spalding, Marc Fuhrmann and Nigel Young. World Mission Group The World Mission Group is responsible for developing mission links outside the parish, and the distribution of the bulk of the funds set aside for mission giving 110% of the parish's unrestricted donation income is designated for mission giving.) Its members comprised Chris Green (Acting Chairl, Richard Bird, Richard Fowler, Deborah Kiwanuka, Gina Titheridge, Esther Sharma (stepped down), Richard Brueton, Steve Sexauer and Nicholas Durden. PCC Activi in 2024 The PCC met in January, March, June, September and November. At each meeting, the PCC spent time looking at the Bible, praying and conducting normal business including updates on buildings work, World Mission Group and finance, as well as safeguarding, data protection and ecological concerns. In preparation for the Annual Meeting (APCMI in May 2024, these items were approved: the 2023 Annual Report and Financial Statements, and the Financial Budget for 2024. Our Patrons the Diocese of London and Common Fund We continue to enjoy an open and productive relationship with the Patrons of the Church, The Bishop of Edmonton, and the Church Pastoral Aid Society. The Common Fund we pay to the Diocese of London fully covers the direct Costs of employing our Vicar. and in addition contributes to other costs of the Diocese of London. Our contribution to the Common Fund in 2024 wa5 £91,3CQ. Buildin s Committee In 2024 there were five meetings of the full Building5 Committee and one extraordinary meeting in January to prepare for the Archdeacon's Visitation in April. The Buildings Committee is made up of: Chris Law (Chair), Ruth Greenwood {Vice Chairl, Nigel Youn& Louise Spaldin& and Marc Fuhrmann. The most Significant activity in the Buildings Committee expenditure came from the following items: l. To start the year, the icy January weather caused some of the stonework to crumble above the tower entrance door. This required us to engage specialists to inspect and repair damaged masonry. 12 Parlsh Church of St James wlth St Matthew. Muswell Hlll Year ended 31 December 2024 2. With planning permission granted by Haringey, the Spring saw substantial pruning, for reasons of safety and shading, of 10 overgrown trees in the gardens of the Vicarage and 8 St James Lane. 3. A new wrought iron handrail. a donation from a member. was installed on the external steps leading to the Side Chapel door from St James Lane. 4. The Birchwood Centre requires ongoing expenditure. and this year the draughty and rotten sash windows in the upper residential property were replaced with double glazed timber windows. Later in the year a failed placement ARTIO radiatorwas a significant and unexpected cost at short notice. 5. Two other residential properties (67 St James Lane. 14 Woodside Mansions) required repairs to bathrooms/plumbing and updating decoratively. 6. A fire safety report identified adjustments which were needed to fire doors in the offices and the Church Centre. 7. The largest project of theyearwas works on Flat B, 176 Muswell Hill Road which tookeight months with regular oversight by the PCC. The property is accommodation for staff. Having suffered significant water ingress, it required work to the roof, brickwork and repointing. While unoccupied, we took the opportunity to renovate and update the bathroom and WC and decorative state and soft furnishings. Collaborating with the other two freeholders, we have repaired the frontage with safer steps and path, more appropriate bins storage, and the common parts with replastering. paintin& carpeting and PIR lighting. The work of Buildings Committee 15 3 team effort and we rely heavily upon the whole of the St James office team. In delivering this yearfs activities, and particularty the project at 176 Muswell Hill Road, we would like to recognise and thank Enoch Chen& SteveArkell and Zainab Saccoh for their unflagging and cheerful support. Chris Law- Chair, Buildings Committee World Mission Grou The WMG administers the links with our world Mission Partners, and the planned support is IO% of St James Giving (for 2024, we gave £58.410). We liaise closely with our partners and their needs, which is why we significantly increased our support for the Kenyons, and were able to cease supporting Szilard Tam and adjust others according to their circumstances. During 2024 we added Dave and Kat Corne5 {although Dave's new role meant we could stop funding in the year), and Edward Lekarkin. We were also able to help fund a mission trip for Simone Sarta. Looking forwards, we are always keen to raise new Partners and Group members from within the church family, strengthen the links with Pastorates, and encourage a church team trip to Cambodia. 13 Parish Church of St James with St Matthew. Muswell Hlll Year ended 31 December 2024 Safe uardin The PCC adopted the 2024 Parish Safeguarding Policy Statement in June. There were no serious Safeguarding incidents in 2024 that needed to be notified to the Charity Commission. Progress was made during the yearto implement the Safeguarding processes in the Safer Recruitment & People Management Guidance (20211 and the Learning and Development Framework (20211. However, St James did not achieve full compliance with the SRPM Guidance and further work is required in 2025. When the online Parish Dashboard was launched in 2022, it ￿flected the House of Bishops, Safeguarding Policy and Practice Guidance (Promoting a Safer Church: safeguarding policy statement for children, young people and adults. House of Bishops, 2017). This policy is gradually being updated with a Code of Safeguarding Practice that strengthens and clarifies the obligation to follow the 2017 guidance. The Parish Dashboard was upgraded in September 2024 to bring it in line with safeguarding guidance in two further policy documents: Safer Environment and Activities {2019) and Responding Well to Victims and Survivors of Abuse (2021). The new requirements will require action by the PCC and the staff team in 2025. Finance The surplus for the year was £22,673 after a deficit of £68,328 in 2023. Total giving, including regular monthly donations, lump sum donations and gift-aid claims increased by over 16% from £620,902 in 2023 to £722,091 in 2024 due to the generosity of the congregation as an act of worship. Church members have been very responsive to our ministry plans. Total expenditure, including depreciation, increased by 4.8% from £788,884 in 2023 to £826,830 in 2024. At 31 December, net a55ets were £1,253,420 including cash balances of £295,374. Our short-term loans fell from £65,250 in 2023 to £13,050 in 2024 after new terms were agreed on an interest-free equity loan on a property we own. In addition, we are in the process of extending the lease on that property. While the cash balance has increased during the year we are only modestly above our policy of holding three months, expenditure in cash. There will be additional financial pres5ure5 during 2025 now we are fully staffed. Governance Internal Control and Risk Mana ement It is through the various committees and sub-committees that the PCC has addressed the key operational and financial control requirement5 of the Parish. St James is subject to the full accounting and auditing requirements established by UK law and practice. In addition, the PCC and Staff team have addressed some of the non-financial risks associated with the activities of the church, such as Child Protection policy and the health and safety of its employees, members, Vlsitors and contractors. They have established appropriate risk management policies and procedures, including where necessary, appropriate insurance cover. 14 Parish Church of St James wlth St Matthew, Muswell Hill Year ended 31 December 2024 The PCC is grateful for the considerable efforts of volunteers for it5 successful operation. Without that help, the church would not be able to carry out its many and varied ministries and neither would we as individuals have opportunity to serve our Lord God as he would have us. Reserves Polic The PCC has a reserves policy. Our total cash balance. excluding restricted reserves, should exceed a minimum of 3 months of annual expenditure. excluding depreciation. At 31 December the cash balance was equivalent to 4.5 months of annual expenditure. If the balance falls below 3 months at the end of a year. the PCC will develop a plan to restore the level above 3 months. as soon as possible. Auditors Lakin Rose Limited acted as auditors during the year. A resolution for their re-appointment will be put forward at the 2025 APCM, as required by law. On behalf of the PCC Revd Chris Green (Vicar) Date 14th April 2025 Summary of a Parochial Church Councifs Financial Responsibilities: The PCC shall prepare accounts of the ecclesiastical parish and be accountable in particular to all whose names are on the electoral roll (Church Accounting Regulations 2006). Every PCC shall furnish to the Annual Parochial Church Meeting the audited accounts of the council for the years ending 31 December immediately preceding the meeting and an audited statement of the funds and property. if any. remaining at that date (Parochiol Church Councils (Powers) Measure 1956). The charity trustees Ifor which read PCCS) shall ensure that accounting records are kept in respect of the charity which trs sufficient to show and explain all the charity's transactions (Charities Act 2011, Part Vlll Charity Accounts. Reports ond Returns. 5ertion 130 Accounting records). 15 Parish Church of Stjames with St Matthew. Muswell Hill Year ended 31 December 2024 INDEPENDENT AUDITORS, REPORT TO THE PCC OF ST JAMES WITH ST MArrHEW FOR THE YEAR ENDED 31 DECEMBER 2024 Oplnlon We have audited the financial statements of Parish Church of St James with St Matthew (the 'charity') for the yearended 31 December2024 which comprise the Statementof Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been app5ied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practi￿). The financial statements have been prepared in accordance with Accounting and Reporting by Chartties preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practs.￿ issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practi￿ effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial statements: give a true and fair view of the stste of the charity's affairs as at 31 December 2024 and of its incoming resOUr￿S and application of resources for the year then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordan￿ with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Stsndards on Auditing (UK) (ISAS {UK)> and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 PCC members, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the PCC members with respect to going concern are described in the relevant sections of this report. 16 Parish Church of St James with St Matthew, Muswell Hill Cashflow Statement for the year ended 31 December 2024 INDEPENDENT AUDITORS. REPORT TO THE PCC OF STJAMES WITH ST MATTHEW FOR THE YEAR ENDED 31 DECEMBER 2024 Other Information The other information comprises the information included in the annual report, other than the financial statements and our auditors, report thereon. Our opinion on the financial statements does not cover the other informab'on and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and. in doing so, consider whether the other information is materialty inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materialty misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion: the information given in the PCC members. report is inconsistent in any material respect with the financial statements" or sufficient accounting records have not been kept 01 the financial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanats'ons we require for our audit. Responsibilities of PCC members As explained more fulty in the PCC members, responsibilities statement. the PCC members are resF)onsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the PCC members detemiine is necessary Éo enable the preparation of financial slatements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements. the PCC members are responsible for assessing the charity's ability to continue as a going con￿rn. disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unless the PCC members either intend to liquidate the charity or to cease operations. or have realistic alternative but to do so. Auditors. responsibilities for the audit of the financial statements We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulats.ons made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors. 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. Irregularities, including fraud. are instances of non-comp11ar￿ with laws and regulations. We design procedures in line with our responsibilities. out]ined 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= 17 Parish Churth of St James with St Matthew. Muswell Hill Cashflow Statement for the year ended 31 December 2024 INDEPENDENT AUDITORS, REPORT TO THE PCC OF ST JAMES MTH ST MArrHEW FOR THE YEAR ENDED 31 DECEMBER 2024 Extent to whlch the audlt was consldered capable of detecting irregularities, including fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtsining audit evidence that is sufficient and appropriate to provide a basis for our opinion. Identifying and assessing potential risks related to irregularities In identifying and assessing risks of material misstatement in respect of irregularits'es, including fraud and non-complian￿ with laws and regulations. we considered the following.. the nature of the sector. control environment and charity performance. results of our enquiries of management about their own identification and assessment of the risks of irregularities- any matters we identified having obtsined and reviewed the charity's documentation of their policies and procedures relating to- identifying, evaluating and complying with laws and regulations and whether they We￿ aware of any instances of non-compliance" detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud: the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations. the matters discussed among the audit engagement team and involving relevant internal specialists regarding how and where fraud might occur in the financial ststements and any potential indicators of fraud. As a result of these procedures, we considered the opportuntties and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to income recognition. In common with all audits under ISAS (UK), we are also required to perform specific procedures to resFK)nd to the risk of management overrtde. We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fiJndamental to the charity's ability to operate or to avoid a material penalty. We identified no such laws and regulations applicable to the charity- Audit response to risks identified As a result of perfomiing the above. we identified income recognition as a key audit risk related to the potential risk of fraud. Our procedures to respond to risks identified included the following: reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements., enquiring of management Gon￿Ming actual and potenknal lits'gation and claims". performing analytical prlxedures to identtfy any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; reading minutes of meetings of those charged with govemance; obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of provisions,. and 18 Parish Church of St James with St Matthew, Muswell Hill Cashflow Statement for the year ended 31 December 2024 INDEPENDENT AUDITORS, REPORT TO THE PCC OF STJAMES WITH ST MArrHEW FOR THE YEAR ENDED 31 DECEMBER 2024 in addressing the risk of fraud through management override of controls, testing the appropriateness of joumal entries and other adjustrnents: assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulats'ons and potential fraud risks to all engagement team members including internal specialists. and remained alert to any indicab'ons ot fraud or non-compliance with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uklauditOfsresponsibilities. This descripb'on forms part of our auditors. report. Use of our report This report is made solely to the PCC tnembers. as a tKMJy. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the PCC members those matters we are required to state to them in an auditors. report and for no other purpose. To the fullest extent permitted by la¥V, we do not accept or assume responsibility to anyone other than the PCC members. as a body. for our audit work. for this report. or for the opinions we have formed. Lakin Rose Limited Chartered Accountants statutory Auditors Cambridge House Camboro Business Park Girton Cambridge CB3 OQH Date: 24 April 2025 19 Parish Church of Stjames with St Matthew, Muswell Hill Statement of Financial Actlvltles for the year ended 31 December 2024 LNRL8TRicfFJ) CharitNhlc prO￿rty Fund R￿sTRICrEl> TOTAL General Fund 2024 111 21)23 Colleetlon Fund INCOME AND ENDOWMENTS FROM Donaiions tL'gJLiLS C)Iher trading activilles <)IhLr Note 2{A) Not¢ 2(b) Note 21¢) Nthte 2(d) 710,190 710,190 722,091 620.902 7.450 78.083 14.121 91.902 19.581 91,902 19.581 91,91b2 15.929 TOTAL 1121,673 821.673 27,830 849,51b3 720.S.$6 FXPFNDITURE OIY: CHARrrAIILTr ACTivrriFs Cniils ALlivitics direcily relmtiiig to ihe work of St James iirch irnna8ciirnt and admin is(ralion CnvemllncL Costs Notc 3la) Noi¢ 3(b) Note 3(c) Note 3ld) 58,410 58,410 557.1130 170,1110 9,904 4,419 26,087 62.1129 83,917 170,IXO 9.91b4 77382 572.695 129.637 9270 531.809 170,180 9,904 26.021 TOTAL 711,893 5X,410 2(),1)21 796J24 30,506 826,830 788J184 NET INCOM FJ (EXPENDITURE) 109.78Q (58,410) (26,021) 25,349 (1676) 22.673 (68,328) TIIANSFfiis BETWEEN FUNDS To the Cliaritable (Aving Fiind Note 9 (71,019) 71.019 klkkk NET MOVEMENT OF FUNDS 38.761 11609 (26.021) 25J451 {1676) 22,673 {68J28) RECONCILIATION OF FUND,S TOTAL FUNDS BROUGITf FORWARD 250.066 31838 927.791 1210,695 20,052 1230,747 1299.075 TOTAL FUNDS CARRIED FORWARD 288,827 45.447 901,770 1236,044 17.376 1.253,420 1330,747 20 Parish Church of St James with St Matthew. Muswell Hlll Balance Sheet as at 31 December 2024 20•4 2023 Other Pryrty Pryrl)- Tothl Fu& FIXED ASSETS Tangthk frd &8$tts 0).172 IJ3A192 933.011 037 1.073J178 CURRENT ASSETS Ikbto Cash *bankand in harLd 21NIJ 295374 317234 21.860 295J74 3A7334 13,054 13J154 237 25 250J79 (iiw) 0475b) {47J (652￿ 127J(Q) (92JID) NET cuRR￿T ASSE15 (iiox)) 281478 269A28 (65￿} 221919 Is7￿69 tAJllE Tenn Eqty Loan (5ZIXJ) (s23￿) NET ASSETS 35L6XI 1253A 927.791 1230.747 TrIJNDS 9)1.7 33U74 17J 123&044 17J76 n.791 2Q 13IDW5 2￿￿52 RtstrKted 9)1.770 351￿￿} 125J 420 927.791 302956 Appmyedby thelfcon 14th Awd_7025. and syed oo #s b¢balfby: Rtvd (lllts (kn ((ha￿) I￿ Kthikb¢ad(IbooBry T￿aS￿l￿) The notes on pages 23 to 27 fom) part of these accounts 21 Parish Churth of St James with St Matthew. Muswell Hill Cashflow Statement for the year ended 31 December 2024 Statement of cash flows Table I Note Cash flows from o ratln aCtI￿[e% Net Cash rovidedb (usedin) o actNitAes 23,617 IIC65181 (Table 2 below Cash flows from Investlng adlvllles: Diwdends, in￿reStand rents trom investsnents Proceeds from the sale of pro plant and Purchase of propety. piantand equipment Net Cashpmvidedty(usedln) I￿estI activifres 43,351 ment 16,1701 34,632 15,1681 Change In cash andcash equlvalents In the reportlngperiod 54249 168,2991 Cash and cash equlvalents at the belnnlng of the reporting period Cashandcash equivalertsat the endof the reportingperiod 237,125 305,424 ITable 3 below) 295.374 237.125 (Table 3 below) Reconciliation of nel movementto net cashftowslrnm Operati￿ aCtsvI￿eS Table 2 20ZI Netmovementin funds lorthe Keportingperiodlasperthe strtementol financialactiyities) Ad'ustment for. Depreciation char Dividends, interest and rents ftom investsnents L05sII rofitl on the sale of fixed assets Ilncreaselldecrease in debtors Increa5elldecreasel in creditors Netcash rovidedb {usedinJ operatin U673 (64328) es 43,trJ6 43,351 I8,￿6) 7,496 23.617 17,7F 157,(n71 {IC*,5181 activities Analysls of cash and cash equivalents Table 3 Cash inhand Notice de osits Iless than 3 months) Tolalcash and cash equivalents 7,144 88,230 29&374 150,W 86,161 237,125 22 Parish Church of Stjames wlth St Matthew. Muswell Hill Notes to the 2024 Financlal Statements 1 ACCOUNTING POLICIES The costs ofmaintaining and using this propety are tr8aled a$ expenses of the General Fund. and expensed or capitslised (as relevant) as incurreA. Basls of preparation The financial statements have been prepared in accordance with the Church Accounting Regulations 2C*J6 tc4Jether with applicable accounting standards and Ihe Statement of Recommended Practi￿ (SORP) "Accounting and Reporting by Charities SORP (FRS 102)" effective 01 January 2019. They have been prepared under the historical cost convention. The Parish Church of Sl James with St Matthew meets the definit￿n of a publ￿ benefil entity under FRS102. No Val￿ bs placed on movable church fvrnishings held by the Church Wardens on special tnJst forthe PCC and which require a facu￿ for disposal Sin￿ the PCC considers thig to be inaSen8ble property. Al expendi￿￿ incurred on Consecrated or benefice buildirvJs and movable church fumishings, whether Maintenance or improvemenL is written off as expenditure the Slatement of Finonual ActiVit￿S and separalety dt5dosed. Fund a￿OUnting General funds represent the funds of the PCC that are n( Subject to any restrictton5 regarding Iheir use aThJ are available for application on the general purposes of the PCC. Funds designaled for a particular Pufpose by the PCC are aLso unre5tllcted. Staff housing andotherproperty Freehold or leasehobj property fequired to be a￿U￿ted for by the PCC are included in these financial statements at lil market vatue5 estimated in 1998 or (ill for those properbes l)oughl subsequently. at cost. The value of propety held at the tvne was reV￿wed in 2000 and considered by the PCC to conlwiue to be appropriate valuations for the purposes of these ffinancial statemenls. Mainlenance expendf(ure is itten off as ineurred. The accounts include all transact¥)ns, assets and labilitses for which the PCC is responsibte in law. They do not include the accounts of church groups thal their main affiliation to another body nor those that are infomial gatherings of Church members. land and buiklir¥Js are not revalued upwards unless t￿re are exceptional reasons for so doing. This is because, in the PCC'S vw the Cost and effort of c+Jlaining appropriate valuations ouhveigh the presentational and other benefts of f0m￿lty revaluing such properties. Incoming ￿soUrceS Voluntary income and capftal sources Collections and Planned giving (donations} awE recognised when receNed by or on beha￿ of the PCC. InC(X￿ tax recoverable on Gift Aid donations is recognised when the in¢ome i8 recognised. Grants and legacies to the PCC are accounted for as soon as the PCC ts notÉfied of it5 legal entitlement, the amount due is quantifiable and lis utiThate receipt is reasonabty certain. Any pemianent diminution in the value of these propertie5, a5 evvjenced by fom￿1 or infom7al valuations drawn up by or on behalf of the PCC. bek)w that at wh￿h these properties are recognt5ed in these financial ststements. however, woukl be appropriately provKled for. Income investments ofheriTh Interest ent-￿ements linduding any lax recoverable thereon) a￿ accounted for as they accrue. Rental income from the letting of the church Premises or telated property 15 recogni5ed when the rental i8 due. Depreciation has been provwjed on these properties based upon an expected useful lrfe of 50 years. otherfixture4 fittings and office equipment Equipment purchased and used within Parish Premises is depreciated on a stsaight-line basis over4 years. Indwidual items of equipment wlh a purchase price of £1.Oc￿l (exduding VAT) or are written off when the asset is acquired. Resources used Grants and donations Grants and donations are accounted fot*then paMI over. or when awartled, ifthat award cre*s a bind¥¥J obligation on the PCC. Current assets Amounts owing to the PCC al 31 December in respect of fees. ￿Thts or other income are shown as debtors less provision for amounts that may prove unc01￿ctible. Activities dlrecuy rolabng to the WO￿ of Ihe Clwrch The Common Fund is accounted for when payable. Any amount unpaKI at 31 December is provided for in these financial statements as an operational Ithough not legal) Iklbilrty and is shown as a creditor in the Balance Sheet Short-teThn deposits itKlude cash hehj either with the Cenlral Board of Finan￿. Church of England Funds or at bank. Fixed assets Consecrated and Inalienable land and IHH7din movable church fumishings Consecrated and beneficed propety is excluded from the accounts as per the Charities Act 2011. In the case of this Parish, the properties excluded by this section are the Church, the Pafish Centre. the land surrounding both these buildings aThJ the Vicafage. Llabilitles Loans vthere the repayment amount is derived from the Value of a property are shown at fair value. Any change in value frorn the prevK)us year is recognised in the Statem8nl of Financial Actwrties. Taxation As a charity. the Parish of St James with St Matthew. Muswell Hill 15 exempt from tax on income and gains falling within sections 521-536 of the Income Tax kl 2007 to the extent Ihat these are applied to its tharilable objectNes. No tsx charges have arisen in eflher the Current or preceding year. The Birchwood Memofial Hall is the subject of a separate trust dating back to the earty I￿jS. hehd by a Diccesan body on behalf of the PCC. As no reliable cosl information s available. and ¢onvenb"onal valuation methods lad( sufficient reliability and would invofve ￿$t which far oulweigh the benefft that SLKh a valualh)n could provide in the urcumslances, no valuabon is provthd forthis property in these financial statements. 23 Parish Church of St James with St Matthew. Muswell Hill Notes to the 2024 Financial Statements AryALYSIS B Y TrLThD TOT4L FtrNDS 2024 2023 Lln restricted Kestricted 2(a) Ineomingresoure*sfft)m dofto PlanDed givin Gft Aid (k)natious tn¢om¢ t&x recoverable on (Jft Aid d)n3tions Other planned giving S£rviec Collections Oth¢r &)nations 495.630 127.664 52,984 23.962 9,950 710.190 3.185 498,815 796 128.460 980 53,964 23,962 6,940 16,890 11.901 722.091 401,104 100.610 59,840 12,375 46,973 620.902 2(b) Other volu￿ary ineominx Le8a¢ie$ 7,450 7,450 2(e) IneDmefvm opernlingaeiivilia tofyFther the PCCS objeeiiva Bir¢hw)od Hall lettin85 & Church HAre incotlle Rental knvice fees 52.582 37,02 I 2.299 91.902 52.582 37,02 I 2.299 91.902 35,924 41,388 771 78.083 2(d) Olher ordinory thcomlngresources Interest inroTne Othcr income 3,786 15.795 19.)81 3,786 31,724 35.510 1,963 12.158 14.121 15.929 15.929 IOTAL ll¥CO NILYG RFsOItRC￿s 821.673 27.830 849.50i 720.556 ATh ALYSIS BY FLTND IT￿ rtstri¢t¢d Rt$trirttd It)TAL FUNDS 2024 2023 3{a) Grnnts mi￿10nary and charitable gtvin8 (se¢ 10 Izlow): OveTse&s Church and Cbarities UK missions aod g)¢i¢iies (ind. & James ministries) 25.950 32.460 58.410 i.)25 894 4.419 29.475 33,354 62.829 35.802 41,480 77.282 3(b) Acliv¥t1￿ direcify Telalinglo the •K+rk fihe Church Diocesan Common Fund &aff and rninistry COSt5 Lhwch property expenses Costs of scrviccs (hh¢r a¢livities 91.300 2 15.972 2J8.4R5 11.799 91.iOO 215.972 238.4 15 11.799 87,775 225.286 226.370 7.550 25.714 572.695 26.087 26.087 583.917 557.830 3(c) Chtsrch moA&gÉmenl 4nd odminlslrnlion Offir¢ ¢xpeniJitur¢ &arf and lay assi#ance costs Bank charges 34,Oi3 135.667 480 170.180 34.033 135.667 480 I70.180 37,272 91,950 129,637 3{d) Governance Costs Audit fees & PCC Costs 9.904 9,904 9,?7 "IDlIlL RF50 IIRCF5 L,"S 796.i24 iO.i06 8?6.8iO 788.884 24 Parish Church of St James with St Matthew. Muswell Hlll Notes to the 2024 Financial Statements Th¢ Dior¢sanCothTttonFurtdpaymeni coi'ersthe salary atyjpetssi￿ c￿1celltr¢ grea1￿ inclthin theFree]x)Iddepr&i#tiiML The leasehold laD￿and￿lI(￿nssC0Mpri5¢ theSlafth¢J￿1n8at 176B Muwrll Hill Road(le&sehdiL Ixrt ashare of fr*holdi4Hs sukeq￿nIIY Mcquired).. and 14 Wotslside Mansir*)&mUg￿ll HilL NIO 3NY.¥* i-E¢(troom flat purchased in 2017 for£68￿(th. T pwchast ¢natledby an inter¢St-fr¢e¢￿Ut).4inkd loaD iiithan initial piintipai% al￿ of£61:875 from achwch memkrlsee Note 8a 8b)- 25 Parish Church of St James with St Matthew. Muswell Hill Notes to the 2024 Financial Statements DF￿T0Rs 2024 2023 Income tax recoveraE4e Prepayments and acC￿￿d income Property, ¢quipment and (kposits 13.576 4,737 3,547 21,860 8,836 4,218 13,054 CASH BALANCF5 2024 2023 Held ty C*neral FLmd Held ty &)eciai Colleciions Held ty Charitable Giving 232.551 17.376 45,447 295,374 184.235 20.052 32.838 237,l2i 8a IJABILtriEs: A￿)u￿rS FALLtNG DuEW￿llIN ONE YFAR 2024 2023 Accruals and thferred itL¢ome Other Lreditor5 AmounLS owrd Lm(kr an ¢quily-Itnked loan 18.53 16,225 13.050 47,806 10.655 16,605 65.250 92,510 8b LIABILTfiE5: U)NG TERM 2024 2023 Amounts owed un(kr an wllty-linked loan 52.200 52.200 The current liabxlities Incl￿ an an￿Ul]rOM￿dlo a churchmemirrithich isthrived fromrlr Val￿ of14 Wo(xlsi(k Mansions mw8￿ClI Hill {see Note 5). Theliabilitvis int£￿S[fretandUn￿Ecure(L P￿TriOUSlY t￿ LeNkr couldctLII full loanat shortn(xice. During2024. a loanamethffli w&8agreedto sprodany p(rtential lo￿ rep>Thtrtovtra5 )'earperi(> The UDrestrieted funds in in 2024conyt*dtke Ctnernl Fun41 tnto vtsichtlr Majori￿ oftlr PwishS inc4)me isplac£4 thL" Charitable Givins Vicar's Discretiotmry F￿￿andtI￿ Propth F￿dt0 thich fi￿d$ are (ksignatedfrlThnttr￿ Ctn¢ralFund bv th¢ pcc. The Charitable GIVIngF￿d￿￿1¢h ispaidawdy to missi0rtsandch￿lllCSE￿th in theUK and0ve￿¢85{￿¢ n¢x¢ 3 aly)ve and l o￿loW is fun(kdby transfe￿1￿8 l OY00ft￿ unr¢5trI¢tyJ(k>nat¢din¢(x￿ fr(xn th¢&n¢ral Fund{*¢ Nvte 2 (a)). The Pro￿rtY Fund Comwtsest￿ ￿lS forsraff accommo￿1￿ pts an). swpI￿ on P￿vIOUSd7SpoSa1sQf such pll)F¢ry. Amountsothernise Dot invewlin prO￿ty ar¢lentE9t￿ CtneTrl Fttndon an intcest Asat end2024 thefLmdlMlance repreSentst￿ net total referredto ill Bal￿￿e sheet after nettingl￿FqUi￿ lo￿. rais￿ for tk purth&¢ of14 W(Kxbide Mansions, in 2017. Given thatthi5 fund isnornHllv full). inv<%ted in staffaccomttKNlatioo it ispresentedsepar*ly fromodrrfwLds in the Trmlance sheetofg Jame& The Wi¢trs Discrnionary F￿diS a s¢t aMo￿t￿￿1£haI1o￿Sflnan{1al 8ift5to mqntct5of & Jame& orocc&sionallytoothtri where ther¢ is n¢¢(i an(Vora nc¢dtor confi(kntialtty.an(Vorwhcrc tTrrTC isno rclcvantTr*t. The restricted funds Comprisedl￿ Special ColleffliiY6 F￿d5(kinattd for ￿e(IfiC purpAesor pwj¢Q5asspccifiedby the donor are allocatedto thegjccial CollcctilXL5 Futkd In a&Jiti(XL it incl￿￿.￿ tIL' RoulFLfft(L tlL" LLgal F￿111 i￿. ￿,interNIghi ￿eliLr Fund The restrictrd fundsmai. al￿ inclLth tra]sitcrycash balances ￿￿ere the PCC isacting as agent foraspecific proje¢( andwhich shoujdnot Ee consideredPCC incotneorexFnditwe. Il'ith ilK ¢x(rp¢x)noFth¢PrqKth Fund andliabilitiesofeach oft￿se funthare not separatelvdistinguished 26 Parish Church of Stjames with St Matthew. Muswell Hlll Notes to the 2024 Financial Statements 2024 2023 Ihestrlthd Lknrestrkled Restrkted Tcial (Wthl Mission Iljher) {Speclal ¢knpl Cokcfl(￿l Lknrestrthd Restricted Tclal {Speclal C(AlectKThI Erseas Clwrch aThl¢kritkns StW4ardsh¥). fyrTrB &lkhad K￿C C4NÈrcth. WcYfeTranskn. kne I trknr4Jary, Qos$knts- Szlard Tan , c￿$￿*3. Tr& SAranzu Tearfund. SyrH FthuakeAFpal 13,7 3,437 17.187 88 7,288 7,200 7.200 4,800 1,000 3.000 7,200 30,400 3.616 10.816 380 7,580 4.800 1,000 3,000 7,200 3,996 34,396 4.000 25?50 3.525 29,475 Ll