OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← The Parochial Church Council Of The Ecclesiastical Parish Of Golders Green

2023-12-31-accounts

Golders Green Parochial Church Council

Trustees Report for the year ended 31st December 2023

GOLDERS GREEN PARISH CHURCH

==> picture [134 x 128] intentionally omitted <==

ANNUAL REPORT & FINANCIAL STATEMENTS

OF THE

PAROCHIAL CHURCH COUNCIL

For the year ended 31st December 2023

Incumbent

Kamran Bhatti

Bank

National Westminster Bank PLC Golders Green Branch P.O. Box 7004 21 Golders Green Road London NW11 8EQ

Independent Examiner

Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP

Charity Registration Number 1134827

Vicar’s Report 2024

I am delighted to welcome you to this Annual Report which provides an overview of our activities during the year 2023. It is my hope that you will enjoy reading it. I would like to thank all those who helped me put the Report together, as well as those who have contributed to its content.

Having entered my third year as priest-in-charge of Golders Green Parish Church, it really has begun to feel like momentum is building and that we are entering a new season of church life. This was evident particularly with the launch of our team ministries, who take responsibility for on specific aspects of church life, as well as in the emergence of new and renewed ministries within the church and beyond.

1. Church life

In June 2023, we celebrated 90 years of continuous worship at Golders Green Parish Church. We held a joint service with Golders Green Asian Congregation to give thanks for the church building, concluded with the festival lunch. We enjoyed listening to Diana, Sheila Rose, and Ruth recall their memories of the area's history and their involvement in the church. A big thanks to Tony, our Warden, who assisted in putting together a booklet that summarises the 90-year history of the Church, which has undergone many changes over the years.

GGPC maintains a regular weekly pattern of services that includes a Common Worship Holy Communion service on Sundays at 10 a.m. We continue to broadcast this "live" through Zoom. Church attendance is gradually increasing as people become more comfortable within larger gatherings. There are about 40-50 adults and 6-10 children on average each week.

Every Wednesday morning, there is a service of said Holy Communion (also using Common Worship), which is attended by a small but regular congregation.

It is a great joy to see children from Sunday School join us on Sundays for the beginning of our services and returning during Communion. I would like to thank Ifey and Modupe for their hard work, love and commitment as the number of children attending is increasing. It is a pleasure to hear what the children of our Sunday School have been learning each week. We adults learn so much from their insights!

During 2023, I conducted 1 funeral in the church and 2 at Golders Green Crematorium. There were no weddings, baptisms or confirmations.

2. Worship, Prayer and Teaching

The core elements that are at the heart of our activities are worship, prayer, discipleship and mission. We as a church encourage everyone to think for themselves and to know the scriptures as a foundation for their relationship with God, others, creation, and themselves, and to express this through worship, prayer, and service.

We have spent much of the past year focusing on growing in faith, in confidence and discipleship. Of course, this is an ongoing priority for this year too. To encourage all our members to grow in faith and confidence as disciples (2 Peter 3:18), our various sermon series have focused on Listening to God; Worship; and Being a Christian Community.

Special and Seasonal Services

Our regular seasonal services and activities continued last year. The following are some highlights from last year's special services.

Advent Services and events

Lent observance

3. People

We had two significant changes in the PCC last year. Sheila Grodzinki retired as deputy warden and Simon Houghton retired as vice-chair of the PCC. They both have served faithfully for many years in those and other roles and we are very grateful.

Our new model of team ministries is becoming established, and we are blessed to have a number of people who are incredibly dedicated and volunteer to serve in so many different capacities. Without them, our current ministries would be unsustainable.

It has been both humbling and exciting to see so much development in our team ministries and how different teams are already contributing so much towards keeping the church

functioning. Much of what they do goes unnoticed, and the range of background tasks and teams is vast:

  1. Building Team

  2. Contracts Team (overseeing all contracts, employees, and contractors)

  3. Children’s Ministry Team (overseeing Sunday School and the Toddler Group) 4. Finance Team

  4. Safeguarding Team

  5. Mission and Outreach Team –overseeing initiatives including the Night Shelter Project, our Wednesday Coffee Morning and Christmas Cheer (with Churches Together)

  6. Sunday Service Teams (Hospitality, AV Sound Desk; Worship and Service Managers Teams).

More volunteers are always needed and welcome if we are to maintain and grow our ministries. I gratefully thank all those who give so generously of their time and skills.

4. Mission & Outreach

In response to the great Commission given by Jesus Himself (Matthew 28 vv16-end), GGPC seeks to reach out to others with the love of God. The power of action is often greater than the power of words, and we strive to earn a hearing for the Gospel through our actions. I continue to develop relationships with colleagues at other local churches and within our local community.

A regular programme of missional activities took place during the year including.

a. The Toddler Group

As per our Mission Action Plan, we are passionate for children and young families to encounter and experience the love of God. The Toddler Group meets every Tuesday 9:30 am – 11:30 am, and is steadily growing. A big thanks to the team whose love and commitment make that possible.

b. The Coffee Morning

We believe that small groups are vital to enable us to grow as confident disciples. Every Wednesday from 10:30 am - 12 pm, the church is open for coffee/tea, cake, and chat, including half an hour of optional gentle exercise time. Over refreshments, we discuss all kind of issues and friendships begin and develop.

I am humbled to be a part of a community that makes such a significant commitment to outreach. Many of you give generously of your time each week, and others of you make greatly appreciated financial contributions to support these social and community activities.

4.1. South Asian Service

The South Asian service is an outcome of our church Mission Action Plan 2023, and meets in church on the third Sunday of every month at 4 p.m. These services are conducted in several languages, including Urdu, Punjabi, Hindi, and English, as well as in a variety of musical styles, including Eastern and Western music.

I am humbled by the fact that this church plant is growing in all aspects. I am grateful to Naila Kamran (my wife), who dedicates her time and energy to coordinating the Asian Services and social events. In the past year, a team of six people was formed, which meets every month to feedback on previous services and to plan for future events and services. Both morning and South Asian congregation enjoyed a joint barbecue in August 2023.

4.2. Lugandan Service

In Stepney Area, we have a Lugandan congregation that meets at St John’s Brownswood Park (near Finsbury Park). Through a member of the PCC who is a member of the Lugandan community) I was invited to support the congregation as an interim measure for 12 months in a voluntary capacity. With the support of the Bishop of Stepney, our Archdeacon Fr John and the Archdeacon of Hackney I have agreed to lead their services once a month on a Sunday afternoon. I firmly believe that there is a great need for intercultural mission, close to home as well as overseas, and am glad to be able to contribute in this way.

Finally…

While I hesitate to identify individuals for fear of leaving someone out, I would like to thank the PCC and every member of the teams at GGPC, who have been such a great support to me and each other during the past year.

As always, we have much to celebrate, and I hope this report gives a sense of our ministry and life in 2023. Likewise, there is much to look forward to as we continue to live out our Christian calling of being the body of Christ both within the parish and beyond.

As a church, I pray that through the guidance of the Holy Spirit we will continue to do our best to be faithful to God through the power of the Holy Spirit in our daily lives. As the writer to the Hebrews says, “Let us hold fast the confession of our hope without wavering, for he who promised is faithful.”

God bless you.

With love as a fellow servant of Jesus,

Revd Kamran Bhatti

Golders Green Parochial Church Council Trustees Report for the year ended 31[st] December 2023

Objectives and Activities

Golders Green’s PCC has the responsibility for co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the church – pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the church and hall. The PCC has continued to comply with the Charity Commission’s guidance on charities for the advancement of religion in determining the nature of activities undertaken for the Public Benefit.

Membership

Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. “The Parochial Church Council of the Ecclesiastical Parish of Golders Green” is registered with the Charity Commission as an independent body. Members of the PCC are also registered as Trustees with the Charity Commission.

During the year († until May 2023, * from May 2023 the following served as members of the PCC:

Incumbent The Rev’d Kamran Bhatti Chairman Wardens Mr. A. Nwanodi Ms. N. Bird Representatives on the Ms. J. Brown Deanery Synod Co-opted members Elected members Mr. T. Nurse Treasurer Mr. S. Houghton† Ms. S. Rodriguez Secretary Mr. S. Muttiah Mrs. S. Grodzinski† Mr. K. Thompson Mr. F. Nwagwu Ms. A. Bwebale Ms. I. Onochie Mr T. Yiannikkou*

Structure, governance and management

The PCC operates through a number of committees, which meet between full meetings of the PCC:

Standing Committee

This is the only committee required by law. It has the power to transact the business of the PCC between its meetings, subject to any directions given by the Council.

Page: 1

Golders Green Parochial Church Council Trustees Report for the year ended 31[st] December 2023

Finance Committee

Oversees the general financial dimension of the work of Golders Green Parish Church by monitoring income and expenditure, budgeting and co-ordinating the annual review of the Christian Stewardship of money through planned giving. This is combined with the Standing Committee in this parish. The combined Standing & Finance Committee also advises the PCC on matters relating to Charities and Mission (including grants made to charities by the parish) and the Church Hall.

Reserves Policy

The Finance Committee consider that free reserves held by the church should be approximately 30% of one year’s worth of expenditure, which equates to around £50,000. The actual level of reserves at 31 December 2023 (Net Current Assets of £308,127) was higher in anticipation of potential major expenditure. The policy will be reviewed annually.

Church Attendance

There were 79 parishioners on the Church Electoral Roll at the end of 2023. The usual Sunday attendance in 2023 was around 40.

Treasurer’s review of the year

The full PCC met 5 times during the year, with an average attendance of 75%. Committees met between meetings and reports of their deliberations were received by the full PCC and discussed where necessary.

The PCC’s declared goal of covering regular expenditure from income received was achieved with a surplus of £46k.

Page: 2

Golders Green Parochial Church Council

Trustees Report for the year ended 31[st] December 2023

The church remains dependant on the hall tenancy to sustain a level of income to fund ongoing and future expenditure. We continue to maintain a good relationship with the nursery school.

Outlook for 2024

Please see the Vicar’s Report for details of the events and activities that have taken place in 2023 and plans for the year ahead. Among the financial pressures, we are facing in 2024, are:

Page: 3

ColdtTJ Green Parorhlal Churrh Coun(11 Tnutees Re￿rt for thE ye•r enilixl !1¥ Tknern￿r 20ZJ Ai thi nme Ihc churlh ha4 5u(li¢i¢ni rescTh"cs bc able i(b Cfmtmue io funcfjon xi A ioinK concern. thi)u%h an! lat￿ dL%CretLlJn￿ cxpcnthiurc qhnujd be Iividtd. Trnstecs Regponjibilities lThc m%ietr arc TCSIX)n4ible ff>t prcpatm% ihe Twsiees Rcpun and the finanaal 4t2i¢menis in 4cci)rd¥nre w1th appkncablc la￿. 2nd L'mied knnBdfDm .4rcounung Stsndards (L',mied Kjngdnrn Cpcncr211!' ..Icccptcd ..Kcci)unnnx Pracoce. lThe law ppbcablt io chantyei m ￿.￿land & IX'Ales rryuues Ihe wiee% prqiarc financtxl 8lJteTnenis f¢)r each financ￿] !"eAT w.hich wi-e A true and f31t i'irn n( the siaie r)( Ihe affxtrfi (if ih¢ chatJTh' xnd ()f ihe mcoming Ttsiiurces and appbcauon o( ￿9()￿r¢c5 of ihe chnry' for thai pennd. In prepxnng rhe4¢ fmanctxl 4iAiemcnis. Ihe inLsi¢es to.. selc(1 swtable aCci)un￿￿ ￿￿(l¢S ¥rtd rhcn Jppl!" them c¢msisienrl): ob5eTh'¢ ihe mrthiML4 and prmcylcs m the Chantses %L)RP: make iudgemenis and e%nm%ie4 ihai Are rea￿nable #nd prudeni: ie ￿.he1her ppkncablc A£ctsuntsnR siandards hAI'c bcen followed. subjeci ro an). at¢wl d¢Pim￿¢S thc104cd and txplwitd in the sutcmcnts.. prrp%tt ihr f￿ana￿l %tatNncnfs nn th¢ p)In% c(mcern bJts unk59 11 IJ inappropn¥ic to pr¢sum¢ thai Ihc chattii. tunnrtuc in l)u4incss. The tnJJtCCS Ate ffspon%ibk fc>r ke￿￿8 pD)per accounttnR reci)rd5 thai disclip%e Wryih Tta%nnahlc •ccuraa ai #ni ttmc Ihc fm2nctsl wb4iiicbn c)f lh¢ chani!. and ¢t￿bIr Ihem Ii) en%ure thai Ihc fin¥ncil 512temeni ci>mpl! w'ith rhc C'hAriu¢4 ..Ici 2111 l and lh¢ pr¢)i'i%iiin ¢trf the trusi dteds. 11)c!' arr iL$o rcspr)n%il)Ic f¢>r %afe%￿￿11nl Ihc ajqcts {)f Ehc ch2nTh and hrfJCC (nr ￿knIg rexs()nable 51cp% ((Trr ilie ptth'ct)unn And dtiecD¢m rjf frnud and othct Inc￿￿8￿0¢$. Thi% rew>rt W3$ appr￿'cd on". Chairman - Pagt.. 4

Independent Examiner's Report to the Members of Golders Green Parochial Church Council

I report to the trustees on my examination of the accounts of the Golders Green Parish Church (the "Charity") for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

==> picture [214 x 47] intentionally omitted <==

Adam Fullerton (FCA DChA)

For and on behalf of Moore Kingston Smith LLP

9 Appold Street London EC2A 2AP

Date: 15 October 2024

Page: 5

Golders Green Parochial Church Council Statement of Financial Activities For the year ended 31st December 2023

Note
Income from:
Donations and legacies
- from donors
2a
- other
2b
Church activities
2c
Investments and property
2d
Total
Expenditure on:
Raising funds
3a
Charitable Activities
- grants
3b
- directly relating to the work of
the church
3c
Total
Net gain on investments
7
Net Income/(expenditure)
Transfers between funds
Net movement in funds
Balances brought forward at
1st January 2023
Balances carried forward at
31st December 2023		 General
Designated
£
£
44,261
-
968
-
1,092
-
179,906
-
226,228
-
9,178
-
-
-
-
-
170,584
-
179,762
-
13,551
-
60,017
-
-
-
60,017
-
3,375,296
-
3,435,313
-
Unrestricted Funds		 Restricted
Funds
£
277
280
-
-
557
-
208
-
202
410
-
147
-
147
2,026
2,173		 Total
2023
£
44,538
1,248
1,092
179,906
226,785
9,178
208
170,786
180,172
13,551
60,164
-
60,164
3,377,322
3,437,486

The comparative Statement of Financial Activities for the year ended 31 December 2022 is shown on Page 17.

Page: 6

Golders Green Parochlal Church Council Balance Sheet As al 31st December 2023 Not• 202J 2023 2022 2012 Flx•d A•￿1 TwJl￿o fixed ass•ts Irthrnt generabng ryOPWty For use m It ol the P￿￿ Inve51m￿l 85sels 2.940.CKKI 2.940.( 53 189.319 3.129,359 3.115,821 Curr•nl AB••ts Doblors Shm lenn depos Cash al bank and in hwwj 19.973 92,230 269,257 9.430 85.032 381.4 Cr•dltorn.' Arn¢xMts IdllNJ d 73,333 .127 261.gjl N•t ¥lJi•l* 3.437.486 337.322 FundJ 3.435,313 3,375. OesiGnaled R•51rKi•d 2173 3.437,486 3 377.322 oved ty lh• Part<hhl Church on Swed on rts ￿hair by Zdc4120 Chur¢1v￿￿on NB¥d T Nurse Tre8surer Th• Mles w p8ges 9 10 17 form p¥1 cl these finanod ¥W•ments. P•3e". 7

Golders Green Parochial Church Council Notes to the financial statements For the year ended 31st December 2023

1 Accounting Policies

Basis of preparation

These financial statements are prepared on a going concern basis, under the historical cost convention modified for the revaluation of listed investments and certain property assets which are accounted for at market value.

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), including update Bulletin 2. The Charity is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP), and the Charities Act 2011.

The charity has included property assets which are accounted for at market value, to better represent its value to the charity, which is not in compliance with the Charities Accounts and Report Regulations 2008.

The trustees (PCC members) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable entity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charitable entity’s forecasts and projections and have taken account of pressures on donation and investment income. After making enquiries the trustees have concluded that there is a reasonable expectation that the charitable entity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties. The PCC therefore continues to adopt the going concern basis in preparing its financial statements.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC.

The restricted funds can only be spent on the purpose for which they were given.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members.

Page: 8

Golders Green Parochial Church Council Notes to the financial statements For the year ended 31st December 2023

1 Accounting Policies

Income

All income is recognised when there is entitlement to the funds, the receipt is probable and the amount can be measured reliably.

Voluntary income

Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under covenant is recognised only when received. Income tax recoverable on covenants or gift aid donations is recognised when the income is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is measurable and its ultimate receipt by the PCC is probable.

Sale of books and magazines from the church bookstall are accounted for gross. This income is included with that from other collections.

Income from investments and property

Dividends and interest are accounted for when receivable.

Rental income from the letting of church owned property is recognised when the rental is due.

Gains and losses on investments

Realised gains and losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31st December.

Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.

Activities directly relating to the work of the Church

The diocesan quota or parish share is accounted for when payable. Any quota unpaid at 31st December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.

Page: 9

Golders Green Parochial Church Council Notes to the financial statements For the year ended 31st December 2023

1 Accounting Policies

Fixed Assets

Consecrated land and buildings and movable church furnishings

Consecrated and benefice property is excluded from the accounts by section 10(2) of the Charities Act 2011.

Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are considered to be inalienable property. For anything acquired prior to 2000 there is insufficient information available and such assets are therefore not valued in the financial statements. Since then there has been no expenditure exceeding £1,000 and therefore such expenditure is written off in the SOFA and separately disclosed.

Income generating property

Income generating property is shown at fair value. The Church hall is held at its fair value as independently valued on 16th July 2018 by Gilmartin Ley Chartered Surveyors. The freehold flats at St Albans Close are held at their market value as valued in 2018 on the basis of informal advice from Estate Agents.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a reducing balance basis at 25% per annum. Individual items of equipment with a purchase price of £500 or less are written off when the asset is acquired, as is all computer equipment.

Investments

Investments are valued at market value at 31st December 2023

Current assets

Amounts owing to the PCC at 31st December in respect of fees, rents or other income are shown as debtors.

Short term deposits comprise cash held on deposit either with the CBF Church of England Funds or with the London Diocesan Fund.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less.

Debtors and creditors

Debtors and creditors receivable or payable within one year of the reporting date are carried at their transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest.

Page: 10

Golders Green Parochial Church Council Notes to the financial statements For the year ended 31st December 2023

1 Accounting Policies

Critical accounting estimates and areas of judgement

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. There are no estimates or judgements that have a material effect on amounts recognised in the financial statements apart from where detailed below:-

The property has been revalued in 2018, which is its current value in the financial statements. The trustees have determined that this value is appropriate in the current climate as a current year revaluation would not have given a true reflection of the value of the assets at the year end.

2 Income

a)
Income from donors
Planned giving:
Gift Aid donations
Income tax recoverable
Collections & other giving
b)
Other voluntary income
Donations
c)
Church activities
Fees & other income
d)
Income from investments and property
Rents from Church hall
Rents from Flats 1&2
Dividends and interest
3
Expenditure
a)
Costs of generating funds
Church hall expenses
Flat expenses
b)
Grants & charitable activities - Charitable giving
Fraternal Friends
Homeless Action in Barnet / Night Shelter
Bishop of Edmonton's charitable fund
Rose Ochwada		 2023
£
37,145
6,436
957
44,538
1,248
1,248
1,092
1,092
135,000
34,657
10,249
179,906
2023
£
-
9,178
9,178
-
208
-
-
208		 2022
£
35,591
7,792
1,811
45,194
135
135
731
731
125,000
37,957
6,836
169,793
2022
£
720
5,380
6,100
15
425
-
300
740

Page: 11

Golders Green Parochial Church Council Notes to the financial statements For the year ended 31st December 2023

3
Expenditure (continued)
c)
Activities directly relating to the work of the church:
Diocesan quota
Housing - Vicarage
Church running expenses
Cost of services
Organist
Churchyard
Weddings
Administration & social
Depreciation
Governance costs (see note 3d)
d)
Governance costs:
Independent Examiner's fees (including VAT)
4
Staff Costs
Wages and salaries
Social security costs
Pension costs		 2023
£
90,660
276
38,178
1,106
5,475
2,235
-
28,222
13
4,620		 2022
£
88,200
504
17,151
1,763
4,130
2,630
76
47,937
18
4,200
170,786 166,609
4,620 4,200
2023
£
10,670
-
64		 2022
£
12,735
-
684
10,734 13,419

During the year the PCC employed 1 part time administrator. The average number of staff during the year was 1 (2022: 1).

No employee received remuneration greater than £60,000 during the year (2022: none). The key management personnel are considered to be the trustees (PCC members). The trustees did not receive any remuneration from the PCC nor were reimbursed expenses during the year current and preceding year.

There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.

Page: 12

Golders Green Parochial Church Council Notes to the financial statements For the year ended 31st December 2023

5 Tangible Fixed Assets

Income generating property
Valuation
Brought forward
Additions
Revaluation
Carried forward
Net Book Value - 2023
Net Book Value - 2022		 Church
Hall
£
1,950,000
-
-		 Freehold
Flats
£
990,000
-
-		 Total
2023
£
2,940,000
-
-
1,950,000 990,000 2,940,000
1,950,000 990,000 2,940,000
1,950,000 990,000 2,940,000

Page: 13

Golders Green Parochial Church Council Notes to the financial statements For the year ended 31st December 2023

5 Tangible Fixed Assets (continued)

For use in the work of the Parish
Cost
Brought forward
Additions
Carried forward
Depreciation
Brought forward
Charge for the year
Carried forward
Net Book Value - 2023
Net Book Value - 2022		 Hall
Contents
£
22,603
-		 Office
Equipment
£
7,209
-		 Total
2023
£
29,812
-
22,603 7,209 29,812
22,603
-		 7,156
13		 29,759
13
22,603 7,169 29,772
- 40 40
- 53 53

6 Investment

Units
6,318
Central Board of Finance
Church of England Investment Fund
16,570
London Diocesan Fund
Fixed Interest Fund
Bequested Property Shares
Movement in the year
Market value - 1 January 2023
Annual revaluation
Market value - 31 December 2023		 Market
Value
2023
£
142,834
23,985
22,500		 Market
Value
2022
£
130,551
22,717
22,500
189,319 175,768
175,768
13,551		 196,709
(20,941)
189,319 175,768
Accruals and deferred income
Other creditors		 2023
£
4,620
68,713		 2022
£
4,200
69,781
73,333 73,981

Page: 14

Golders Green Parochial Church Council Notes to the financial statements For the year ended 31st December 2023

8 Restricted Funds

Albs

This fund comprises donations totalling £540 for the purchase of Albs. £286 was spent in 2013, leaving a balance brought and carried forward of £254. There were no funds spent in 2023 or 2022.

Cancer Research

Donations totalling £75 for the Cancer Research was received in the year and no amount spent in this year, leaving a balance carried forward of £75 at the year end.

Homeless night shelter

Donations totalling £280 for the Homeless Night Shelter were received in the year. £208 was spent in the year, which when added to the balance brought forwards of £362 leaves a balance carried forward of £434 at the year end.

Church pathway maintenance

This fund relates to the gift day in 2014 where £3,873 was raised for the repair of the paths around the church. To date a sum of £2,463 has been spent, leaving a balance carried forward of £1,410.

Malawi - Cyclone Freddy

Donations totalling £202 for the Cyclone was received in the year. £202 was spent in the year.

9 Analysis of Net Assets between Funds

Fixed Assets
Net Current Assets
Fixed Assets
Net Current Assets		 General
Designated
Restricted
Fund
Fund
Fund
£
£
£
£
3,129,359
-
-
3,129,359
305,954
-
2,173
308,127
2023 Total
3,435,314
-
2,173
3,437,486
General
Designated
Restricted
Fund
Fund
Fund
£
£
£
£
3,115,821
-
-
3,115,821
259,475
-
2,026
261,501
2022 Total
3,375,296
-
2,026
3,377,322

Page: 15

Golders Green Parochial Church Council Notes to the financial statements For the year ended 31st December 2023

10 Statement of Financial Activities (prior year)

Note
Income from:
Donations and legacies
- from donors
2a
- other
2b
Church activities
2c
Investments and property
2d
Total
Expenditure on:
Raising funds
3a
Charitable Activities
- grants
3b
- directly relating to the work of
the church
3c
Total
Net gain on investments
7
Net Income/(expenditure)
Other recognised gains
Gains on revaluation of fixed assets
Net movement in funds
Balances brought forward at
1st January 2022
Balances carried forward at
31st December 2022		 General
Designated
£
£
45,194
-
115
-
731
-
169,793
-
215,833
-
6,100
-
315
-
-
-
166,609
-
173,024
-
(20,941)
-
21,868
-
-
-
21,868
-
3,353,428
-
3,375,296
-
Unrestricted Funds		 General
Designated
£
£
45,194
-
115
-
731
-
169,793
-
215,833
-
6,100
-
315
-
-
-
166,609
-
173,024
-
(20,941)
-
21,868
-
-
-
21,868
-
3,353,428
-
3,375,296
-
Unrestricted Funds		 Restricted
Funds
£
-
20
-
-		 Total
2022
£
45,194
135
731
169,793
- 20 215,853
-
-
-
-		 -
425
-		 6,100
-
740
-
166,609
- 425 173,449
- - (20,941)
- (405) 21,463
- - -
- (405) 21,463
- 2,431 3,355,859
- 2,026 3,377,322

Page: 16