THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH ROXETH (HARROW) ANNUAL REPORT AND AccouNTS FOR THE YEAR ENDED 31 DECEMBER 2024 REGISTERED CHARITY NUMBER: 1134836
CONTENTS Administrative Information Page 1 structure, governance and management Page 2 Objectives and activities Achievements, performance and plans for the future Public benef it Page 3 Financial review Risk Management Reserves Policy Page 4 Page 5 Appointment of Independent Examiner Independent Examiner's Report Page 6 Statement of Financial Activities Page 7 Balance Sheet Page 8 Notes to the Financial Statement Accounting Policies Incoming Resources Resources Expended staff Costs Investment property and tangible fixed assets Analysis of net assets and liabilities Statement of funds Related parties Rounding Pages 9-10 Page11 Pages 12-15 Page 14 Page 16 Page17 Page18 Page 18 Page 18
Page 1 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH ROXETH (HARROW) ANNUAL REPORT AND AccouNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Administrative information Christ Church Roxeth is Sltuated in the London Borough of Harrow, The correspondence address is Christ Church Roxeth, Roxeth Hill, Harrow, Middlesex, HA2 OJN. The Parochial Church Council IPCCI is, by Section 3 of the Parochial Church Councils (Powers) Measure 1956, a body corporate with perpetual succession and a charity previously excepted from registration with the Charity Commission. Since the implementation of the Charities Act 2006, it has been a requ irement of a PCC with the financial income of Christ Church to register as a charity with the Charity Commission. This was undertaken in September 2009, and the date for the PCC registration was confirmed as 11 March 2010 (Charity No. 11348361. The Annual Report and Accounts are independently examined by David Green of Gowers Ltd who can be contacted at The Old School House, Bridge Road, Hunton Bridge, Kings Langley, Herts, WD4 8SZ. The PCC banks at HSBC Bank, 31 Holborn Circus, London, EC1 N 2HR. PCC members who served between 1 January 2023 and the date this report was signed are.. Member Dates (where part onlyl Role Clergy,. The Revd Simon Durrant The Revd Marj Mott The Revd Elaine Weaver The Revd Kailean Khongsai Vicar & Chair Associate Vicar Associate Vicar Assistant Curate luntil 2. March 20241 (from 29 June 20241 Churchwardens,. Sue Arnold Paul Gabriel Oliver Sormaz Vice-chair lunti128 Apri120241 (from 26th May 20241 General Synod.. Clive Scowen Alan Smith Licensed Lay Minister Diocesan Synod.. Carol Sormaz Ifrom 11 July 20241 Deanerysynod,. Jenny Parker Penny Carballo-smith Joy Chiutare-Rotinwa Elected.. David Arnold Nicola Bielicki Rachel Calvey Penny Carballo-smith Bola George Jean-Leandre Guede Marianne Isherwood Jenny Parker Ashok Thadi Arthur Akhurst Annette Glaw Helen Ellis (until 28th April 20241 Secretary lalso on Deanery Synod) lalso on Deanery Synod) Treasurer
Anne-marie Dennis Sue White Paul Gabriel Page 2 (from 28th April 20241 Ifrom 28 April 20241 (from 26 May 20241 Appointed Barbara Kuekes-Patel If rom 28th April 20241 PCC Secretary STRUCTURE, GOVERNANCE AND MANAGEMENT The method of appointment of PCC members is set out in the Church Representation Rules. All baptised lay habitual worshippers over the age of 16 are encouraged to register on the Electoral Roll compiled by the Electoral Roll Officer. Members of the Electoral Roll are entitled to vote in the election of members to the Deanery Synod and the PCC, and to stand for election after six months of membership. The Annual Meeting of Parishioners IAMPI and Annual Parochial Church Meeting IAPCMI were held on Sunday 28 April 2024 in person. The AMP elected one churchwarden and the APCM elected three parochial representatives of the laity to the PCC. A further churchwarden and one additional PCC member were elected at a Special Meeting of Parishioners on 28 May. At 31 December 2024, there were 198 members on the Electoral Roll (compared with 192 in December 20231. Matters of policy and substance are discussed at PCC meetings. Financial liaison with the Treasurer and day-to-day spending decisions are undertaken by the Churchwardens and budget holders within parameters agreed at the Standing Committee, Assistant Churchwardens were appointed by the PCC to assist the Churchwardens in fulf illing their statutory responsibilities during church seNices. Those that served during the year were David Arnold, Denis Barker, Paul Gabriel, Clive Scowen, Mark Slatter, Alan Smith and Oliver Sormaz. The PCC employs various staff members to support the church's ministry and mission. Salaried posts are usually advertised internally and exterrlally, where relevant, before interviews are held. Salaries are set at rates appropriate to the job description and experience of the candidate. Salaries are reviewed annually, or where there are significant changes to a role, in line with the PCC'S Staff Remuneration Policy. See Note 4 to the Annual Accounts for further information. Christ Church Roxeth is a parish of the Church of England belonging to the Deanery of Harrow, within the Archdeaconry of Northolt and the Willesden Episcopal Area of the Diocese of London. The PCC maintains a close relationship with the wider diocese, providing active representation at Diocesan Synod and Deanery Synod and having lay members serving on the General Synod, as well as working in partnership with local churches During the year, the following sub-committees reported to 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. The committee at 31st December 2024 consisted of the following PCC members.. the Vicar, The Associate Vicar the two Churchwardens, the Treasurer, the PCC Secretary and the Licensed Lay Minister, Safeguarding Team This team serves to promote a safer environment in church and for church activities, especially for children, young people and vulnerable adults. It makes Safeguarding a priority for all those who attend Christ Church. It promotes safer recruitment, risk assessment for all activities concerning children, young people and vulnerable adults and reviews our Safeguarding Policy annually. The members of this team are Elaine weaver Ichairl, Bola George (Parish Safeguarding Officer), Marianne Isherwood (Children's Champion), Christine Akot, Rachel Calveyi Joy Chiutare- Rotinwa, Simon Du rrant, and Helen Ellis. Finance Team This committee oversees, monitors and makes recommendations on finance related matters to the PCC. The PCC still retains full accountability for all finance related decision-making. Its members at 31 December 2024 were Arthur Akhurst Ico-chairl, Sue Arnold, Paul Gabriel Ico-chairl, Jean~Leandre Guede, Clive Scowen, Sue White, Ashok Thadi IPCC Treasurer).
Page 3 Premises Team - This committee oversees all property related matters on behalf of the PCC. Its members at 31 December 2024 were Arthur Akhurst, David Arnold, Sue Arnold Ichairl, Nicola Bielicki, Bola George, Mark Slatter, Oliver Sormaz and Jonathan White. The Mission Focus Team, which overseas our relationships with our mission partners and financial and prayer support for them, and also local mission initiatives in the parish and in Harrow. On 31 December 2024 the members were Sue Arnold Ichurchwardenl, Penny Carballo-smith, Anne-marie Dennis, Simon Durrant Ivicarl, Annette Glaw, Ron Jeeves, Kate Penman, Clive Scowen Ichairl, Carol Sormaz. Elaine Weaver (Associate Vicar), Leadership Team - The Leadership Team consists of the Vicar, The Associate Vicar, the Curate, the church's paid ministerial and administrative staff, the Churchwardens, the Licensed Lay Minister and several volunteer leaders, each of whom is responsible for a specific aspect of church life. The Leadership Team gathers regularly and works with PCC representatives and other church members to consider key aspects of church life,. Sunday Ministry - Shaping our Sunday services to enable all generations to encounter God in scripture, worship and prayer. Discipleship - Building a clear pathway from welcome to committed discipleship to enable every person to discover and grow in faith. Mission - Developing an integrated vision for global, local and f rontline mission,. overseeing the distribution of funds to various mission partners, organisations and individuals. Youth & Children Growing holistic ministry to children and young people. OBJECTIVES AND ACTIVITIES Christ Church Roxeth's PCC has the responsibility of co-operating with the Vicar 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 its related buildings, is the managing trustee of property vested for its benef it in the London Diocesan Fund and is responsible for managing the church's finances, ACHIEVEMENTS, PERFORMANCE AND PLANS FOR THE FUTURE The PCC met formally on 10 occasions during the year in person but occasionally had members join via Zoom. Formal sub-committees met between meetings and notes of their deliberations were received by the full PCC and discussed where necessary. Key outcomes from the Leadership Team and its various thematic areas of focus were reported to each PCC meeting through a Vicar's Report. A major concern which the PCC has had to address in the course of the year has been a growing gap between its income and expenditure, leading to decisions to suspend recruitment of a new worship team leader and premises manager, to reduce contributions in 2023 to the Diocesan Common Fund, and to issue requests to church members to increase their capital and revenue giving which were only partly successful. A full account of the activities of the Parish will be made available to the APCM. This will include detail of plans for the futurei particularly in relation to the continuing development of our mission through the found Charity Shop and involvement in the Onechurch Harrow church planting initiative lin partnership with St Peter's, West Harrow and St Paul's, South Harrow). PUBLIC BENEFIT The PCC members have a statutory duty under the Charities Act 2011 to have regard to the guidance issued from time to time by the Charity Commission. PCC members have read the Charity Commission guidance, Charities and Public Benefit, and the supplementary guidance in The Advancement of Religion for the Public Benefit and have had regard to
Page 4 it in making relevant decisions. The PCC believes that this report taken as a whole provides evidence of the public benefit of the PCC'S work in 2024. The PCC helps to promote the whole mission of the Church, including its pastoral, evangelistic, social and ecumenical duties, and that in so doing it provides a benef it to the public by.. Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its adherents and for anyone who wishes to benefit from what the Church offers. Promoting Christian values, and services by members of the Church in and to their communities, to the benefit of individuals and society as a whole. Disbursing a number of grants to individuals and organisations, in line with an agreed policy. These include the provision of support for core Mission Partners and making donations to support the wider church, relief of poverty and injustice, and outreach ministry in schools. Details are contained in Note 3 of the Annual Accounts. FINANCIAL REVIEW Overall, during 2024, the PCC had an income of £261,380 and an expenditure of £281,339. The majority of the income has come in the form of voluntary donations from members, property income and through Gift Aid. The PCC currently has £187,158 designated into the Grange Farm Community Mission Fund", the remainder of the proceeds from the sale of the Grange Farm Community Centre to the London Borough of Harrow as part of the redevelopment of the surrounding estate. These funds are set aside pending the identification of an appropriate use to enable community outreach to the estate and surrounding area. A substantial amount of voluntary help was received during the year which is not reflected as a cost in the accounts. Without this unpaid assistance, the work undertaken in the parish would be severely reduced. RISK MANAGEMENT Members of the PCC received an initial induction at the start of the PCC year, which covered the key responsibilities of a charity trustee. The PCC continues to monitor the major risks which impact on the work of the Church. A set of financial procedures for monitoring and controlling monetary transactions have been in place for some time, with the most recent review occurring in January 2024. It is considered that these procedures contain the required elements of establishing a record of the sums received at the earliest opportunity, segregation of duties and evidencing the control over this area of activity. A Safeguarding Policy agreed by the Diocese is approved by the PCC annually to cover both children and vulnerable adults and remains under regular review. The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016, in relation to having due regard to House of Bishops, guidance on safeguarding children and vulnerable adults. The Safeguarding Officer (Bola George) is supported by a safeguarding team who oversee the implementation of agreed procedures for children and vulnerable adults, and provide regular reports to the PCC. PCC members are also expected to undertake training on safeguarding procedures on a rolling three-year programme. The PCC review existing controls to deal with all areas of risk on an ongoing basis, and a full review of key policies and risk assessments is ongoing. It is the intention that policies will be introduced to cover other risks as they are identified. The consecrated and beneficed buildings and contents of the Church are adequately insured, where possible, with the Ecclesiastical Insurance Group. RESERVES AND INVESTMENT POLICY The PCC seeks to plan and budget expediently in order to enable the General Fund to break even on an ongoing basis. The PCC also has funds designated in the Grange Farm Community Mission Fund and resolved on 05102118 to place the majority of these f unds on deposit with M&G and Hampshire Savings Trust, pending the identification of an appropriate use for the funds to enable community outreach to the new estate and surrounding area. As mentioned in the Financial Review section above, current value of the fund is-.
Page 5 AppoiNTMENT OF AN INDEPENDENT EXAMINER The changes brought in through the Charities Act 2006 lifted the net incoming resources threshold, below which entities are no loriger legally required to have a statutory audit, to £1,000,000. It is not expected that the PCC'S income will breach this threshold in the immediate futu re, and accordingly the APCM endorsed the appointment of professionally qualif led Independent Examiner to review annually the books and accounts of the PCC, as required for entities with income in excess of £250,000- David Green was appointed as Independent Examiner on 28 April 2024 but since that date the Examiner has advised his intention not to seek appointment for the 2025 f inancial statements and in the event of a replacement Examiner not being identified before the APCM, that it is intended that the PCC should make an appropriate appointment. Rev. Simon Durrant Chairman of the PCC Date 2JLr
Page 6 INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH ROXETH IHARROWI I report on the accounts of the Parochial Church Council of the Ecclesiastical Parish of Christ Church Roxeth IHarrowl for the year ended 31 December 2024, which are set out on pages 7 to 18. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts, The charity's trustees consider that an audit 15 not required lor this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The PCC'S gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered A¢eountants in England and Wale5. It is my responsibility to.. Examine the accounts under section 145 of the 2011 Act,. To follow the procedures laid down In the General Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act,, and To state whether particular matters have come to my attention. Basi5 of this report My examination was carried out in accordance with the General Directions given by the Charity Commisslon. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts with those records. It also includes considering any unusual items or disclosure5 in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is Eiven 85 to whether the accounts present a 'tnJe and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requirement5 to keep accounting records in accord'ance with section 130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and comply with the requirements of the Act and tFLe Regulations have not been met,. or 121 lo which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: Rev. D vi Gowers Ltd Chartered A¢coU.nants The Ol'd School House Bridge Road Hunton Brid'ge Kings Langley Hertfordshire WD4 8SZ een Releva,nt professional body". Institute of Chartered Accountants in England & Wales
Page 7 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DÉCEMBER 2024 Unr•slilcted Dèslgnaied f•Jnds R•sliil•d Toial funds Pilor year ioral fvnds liicome and endowmenis fmm.. Voluntary Income Income from charitable aclivilies Activilies foi qenelalino funds Investmènl Inconie Leoacw Income Other income Sale of Property 186.812 9.661 859 22.594 55 12.771 1gg.638 9.661 859 43.428 280,729 9,020 487 54.995 20.833 7,794 7,794 6.926 Total Income 227,720 20,888 12,TT1 261,380 352,157 Expendizure on.. Cost of qeneratina funds Charitable adlvilies Prenilses Idainlenance Comnion Fund Ivlissionarv and Chaiitable Givinq Salarfes. Nl & Pension Youth & ChildrerÈ's Work Chiirch runnino costs Idortqaqè Interest Communltv Outreach Governance cosls Expènses related lo Inveslmenl properties Total expenditure Gains I losses on investment assets 865 865 274 10,340 10.340 91,300 27.615 86.7g6 9.555 42,614 70,550 87.775 24.592 79.688 16,341 45.282 91.300 27,615 18,932 527 41.118 3.363 1,529 1.496 64,500 7,49g 3,598 1.680 6.977 3.598 1.680 6,977 216 1,656 5,719 192,611 16,728 6,487 71,999 281,339 6,335 332,094 2,613 Net income I lexpenditurel resources 35,109 10,647 159,2281 113,6241 22,676 Traiisfers Gross transfers between lunds- In Gross Iransfers beeen fund8"_ Out 427 1139.321) 2,333 1427} 136.g88 139.748 1139,748) 5,944 (5,944) Net movement In lund$ 1103,7861 12,553 77,760 113,6241 22,676 Reconclllatlon of fui)ds Total funds biouuht lorward 130,323 742,340 15,699 888,361 865,686 Total funds carried forward 26,538 754,893 93,458 874,890 888,361 Th•r• may be minor diJcrèpJnclM In th totals ifthe pen¢• arn not boingjhown
PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH Page 8 BALANCE SHEET AT 31 DECEMBER 2024 3111212024 3111212023 Flxed asset8 6430.. Property- SoLtrlhdown 6432.. Prop8rty- Lodge Roxelh Hill 6435.. Property- Shaflesbury Parade 426.000 426,000 250,000 250,000 Total Fixed ass&t$ 676,001 676,001 Curient ass&ts 6501.. Bank current account 6520.. Hampshlre Tiusl Bank 6530.. Ivl&G Investments Z05.' Accounts Receivable 63.591 60,606 76,661 B3,550 60,454 70,325 Total Current assets 200,858 214,329 Llabllltlas 6601.. Dlocese Loan- Kneeler Stone 6620.. Triodos Mortoape 6899.. Agency collectlons Z04.' Accounts Payable 289 289 1,680 1.680 Total Llabllltl8s 1,969 1,969 NetAss8t $UTplus Ideficttl 874,890 888,361 Reservas Excess I Ideficill lo dale Z01.' Starting balances Z02." Other gainslllosses) -19,959 874,523 20,325 888.361 Total Resetves 874,890 888,361 ReprgseTrted by Funds Unrestrlcted Oeslgnaled Reslilcled Endowment 26.538 754,893 93,458 130,323 742.340 15,098 Total 874,890 888,361 Theromayb& mlnordljcrepancles In tho totals if thepencg 8r¢ not being#hown Approved and authorised for issue by the Parochial Church Council on 28 April 2024 and signed on its behalf by.. Rev Simon Durrant (Chairman) Sue Arnold Ivice-chairmanl The accompanying notes form part of these financial statements.
Page 9 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH REGISTERED CHARITY NUMBER.. 1134836 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accounting policies a. Accounting convention The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 (not verified) and in accordance with the PCC'S Powers Measure, the Charities Act 2011 and "Accounting and Reporting by Charities.. 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 IFRS 1021" las amended for accounting periods commencing from 1 January 20161. The PCC meets the definition of a public benef it entity under FRS 102. See the "Administrative Information" section in the Trustees Annual Report for detail of the legal status of the PCC. The accounts have been prepared in sterling which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest pound. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. The f inancial statements have been prepared under the historical cost convention. The f inancial statements 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 aff iliation to another body, nor those which are informal gatherings of church members. b. Funds accounting Funds held by the PCC are.. Unrestricted funds - general funds which can be used for PCC ordinary purposes. Designated funds - monies set aside by the PCC out of unrestricted funds for specific future purposes or projects. Restricted funds - al income from trusts which may be expended only on those restricted objects provided in the terms of the trust,. bl donations or grants received for a specif ic object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year is carried forward as a balance on that fund. Incoming resources All incoming resources are accounted for gross and include income tax recoverable under Gift Aid where appropriate. Voluntary Income Collections are recognised when received. Planned giving is recognised when receivable. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies are recognised when the PCC is legally entitled to the amount due. All other income All other income is recognised when it is receivable.
Page 10 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 d. Resources used Resources expended are accounted for on an accruals basis and are accounted for gross. Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the PCC. Church Activities The diocesan parish contribution (Common Fund) is accounted for on an accruals basis. Any parish contribution unpaid at 31 December is provided for in these accounts as an operational (though not a legall liability and is shown as a creditor in the balance sheet. Fixed Assets Fixed assets Consecrated and beneficed property of any kind is excluded from the accounts. The insurance value of the Church buildings is £13,300,000. Investment property assets are f reehold properties which are held on the Balance Sheet at their fair value. Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal, are accounted as inalienable property unless consecrated. For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Individual items acquired since 2000 have been capitalized in the accounts and depreciated over their useful economic life. Depreciation Depreciation is calculated to write down the cost of tangible fixed assets, excluding freehold properties, over their expected useful lives, for assets above £500. The rates generally applicable are: IT and Music Equipment 20Y.-33°A straight line It is a policy of the PCC to charge depreciation on f reehold property. However, it is also the PCC'S policy to maintain such assets in a continual state of sound repai r. Accordingly, the useful economic life of these assets is so long and residual values so h igh that any depreciation would not be material. In addition, these assets will be subject to annual impairment reviews. Provision will be made if there has been any permanent diminution in value. f. Current Assets Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. g. Financial I nstruments The PCC only has f inancial assets and liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised costs using the effective interest method. h. Pensions Employees of the Charity are invited to join an auto-enrolment compliant pension scheme details of which are contained in note 4a. There were no outstanding contributions at the year-end relating to staff members who have opted into the scheme. The costs of the scheme are included within staff costs and charged to the unrestricted funds of the Charity.
P3ge11 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2. Incoming resources UThv+sirloied OeJlgNted A•slrlot•d EThdo¥mer*i Thij y•ar L•st y•af Income and èndowments Voluni8rylncomè 0101 Bank Slandhio Orders 02EO Othr Planned Go.N[JA 0255- 0lherDonÉtns-NGA 0258- CAF,QAYE Incorne-14GA 0260.1.Il$cellJfieous Incoffle 123,026 31,278 2,758 2,615 1,090 337 738 123,026 31,27e 2,758 2,615 1,090 337 738 ss 4,100 5,82$ 1,083 1,764 24.112 857 144,451 519 3,360 6,524 281 4,214 205 21,883 4.840 44,477 15,039 34.121 815 0350- Onli¢ Qriing 0415_Youlh V¢ork-alfts IRI 0420. Youlh Ylork_Reslrrled IRI 0435- Chldren-Reslricted IRI 0440- Prerni5e5-Re5trided IRI 0450 Gifts Yorl,Ikssh)n-Restrlcted IRI 0601_ Glft Aj 1230. JÈtyTols 55 4,100 5,825 1,083 1,764 24.112 857 Voluiirary Iiicome Toials 186.812 55 12.771 199.638 280.T2 Income fmm cliarttable 8ciiviiiey 040s- church Ev¢D15 knco 1101 Wedoino Fees 1104. Funeral Fees 1240- Churth Hal Ltttinos 529 837 302 7,993 529 837 302 7,993 700 1.315 891 6,114 Incomè fmm charlrable acrlviiles TOlS 9,681 9,661 9,020 D•slgr•aT¢d Hesiwiat•d Thls yeaw Actwities foryenerathillfuiids 121Q- Bookslol kncome 859 859 487 Aciivltles forgeiieratinLT funds Totkls 859 487 Investmentliicome 1030. RenkLodge 1032. Renl.Sh8fte5bury Pfjrode IDI 1033. R8nt.Soulhdovin Crescent 13.215 833 13,215 21,667 8,$46 12.17D 20,000 22,825 20.833 vestmentiiiconie Totals 22,594 20.833 43,428 54,995 Oiheriiicome 1310- Insuronce ChIRefUnd 1330- EmpynIAl0l.1an¢e 816 6,978 816 6.978 B03 6,123 Olherliicome Torals 7,794 7,794 6,928 Incom8 and endowments Grand total$ 227.720 20,888 12.771 261,360 352,157
Page 12 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3. Resources expended Uniesiil(tièd R•s*ilot•d Thls Exp&ndlture ostollleiier&tlnufunds 2270- Disclplesh..B00kYtall 274 Costof geiieraung funds Tor8ls 274 Chanrabl& activhles 2710. Premis8ts knproYefflenl8 IDI 2720_ CCR.'l.14lnlen8nce 101 2730. ccR.PrtM2I Sifety IDI 103 7,236 3,001 103 7.23 3,001 J8,89B 32.D60 1.592 10,340 10,340 1,592 1910- Di0¢8san Ctstpvnon Fund 91.300 91,300 67,775 1809. Ili5slon4u¥l Earth 1811 Lli5Jioft'.FSCI 1812.1,lIssion'.Sus Phlps 1813-1,Iksion Rad$tOck.PJulb'liIMS 1816-1.118sion'.Re.'GEntraliDn 1821 1.1188b)n-Poverty Injuslltt & Sufferln9 4,992 3,773 4,eoo 7,000 4.SQQ 1.050 4.992 3,773 4,800 7,lJOO 4,5DO 1,050 4.992 3,600 3,600 5,400 4,500 1.000 1833.1,li45k)n.'Found Transformation Parlnor 1,500 I,EOO 1.500 27,615 27.615 24,592 2550- Youlh Work Expenses IRI 2551 Youlh Work-.Tfainh)9'.Accredl8lion 129 129 427 527 210 2552 Youth IVork.Dlscipkshfy) IRI 25qS- Youlh ¥Vork.CorfMmunty b'lorker Expense IRI 2556. Youlh Vrfork-Juck Petchey IR} 2587_Youlh 1Vork-Svmnf D&y8 IRI 25S9-Youlh bWork'.Te8m Bu119 IDI 2570- ChiklreTr's bVork.Expenses IDI 2571_ ChiTrlren's IVork-Gifts IDI 2572_ Chldren's Iyork-speclal Events {Dl 2.120 49 2.120 49 1.996 707 2.900 707 2.900 IT 165 279 10.535 17 785 553 17 33 33 2573_ Chlkjren's Work.Outre8ch IRI 2574. Chlbjren's W)tk.Grange YArrn (Rl 164 1,300 72 1,116 1,300 2575- ChilJren'8 WorkJety Tol$ IDI 2577- ChikYren'8 IYork.Traknlno ID} 2578_ Chldreny WDtk.Te•m 8uihli79 IRI 637 57 637 57 1,583 527 7,500 9.S56 16,341
Page 13 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A•Stil¢i•d EnOo¥rn•nt Thls i•ai 1750_ Bank Charges 1920- 8Bnn$,.VleOdinoslFunern 1940- Subycrwlh)n$ 2101 vOr-EXpEnseS and Hospitafy IDI 2103. Vicar-Leadership TralI9 2105- Vltar-D&crelionary Fund101 2108-Vicfjr-Tek7ph¢ne 2201. Di8ch)leshi)."Conlorenceslevents 2230. Discyle$hy'.Pr•yer Reyourttrs 2260- 015GplÈSh..HDspmasfy 2301. .1n1ernel &IVebs18 230S- ff.Sottware 2307 tr.Hardi'iare 2310 CommunicalvJnS-Advertin01prIIIi9 2313. CornmunicJlv)ns-DPJrt81 & onl7¢ 2318- CCR.EqUmenl 2320- cCR-Slalnery 2325_ CCR-Pholocopl8r Lease 2329. CCR_Pholocopier Operatin9 2331- CCFi.Ch8nino 23'.0- CCR-QJrétsning 2355_ CCR-FID%vers 2381 . CCR.knsuf8nce 2390- CeR.Tel8phone 2401 CCR-Electrlc 2410- CCR.G85 2420- CCR.Waler 2430. CCR-Refuse ColkctD 2SOO. Worshy.'CCLI Lic8n¢e8 2520- Vlor8hb.'Resources 2522-Worsh4>'.Repl8cemEnl 2528_Worsh¥>'.Equlpmenl 2529. Wor$hip.Organisl Fe85 2530- SetYlctr$'.ConsurnabS 253: Seroices'.R&freshm8nls 2539. S6r¢eS..5pVO1I SeNica8 9901- Tran8POrt_per mi 9909.TrJD5POrt.other 9930. MisceloneDUS ExpendNure 199 124 199 124 48 160 371 1,338 532 722 26 308 744 58 1,224 414 79 502 995 16tl 371 1,336 532 722 194 31 1,217 8U6 748 474 239 529 155 616 302 1.815 7.553 748 474 239 &29 155 616 302 1,815 7,553 635 80 738 504 1181 16 48 8,190 543 4,521 8,625 225 642 1,320 194 562 429 397 259 1,494 1,413 27 122 415 26 5.495 617 3,947 5,298 1.278 647 1,376 93 2$1 276 GO 409 28 5,495 617 3,947 5,298 1,278 647 1.376 93 251 276 60 409 1,801 322 135 1,307 1,801 322 139 1.307 1.4 42,610 45.282 1862- CoThThunty Oulreech.. One Church Harrow 1863- Comunty Oulr6ach'.Olher 3,512 3,512 60 3,598 3,598 216
Page 14 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 U•resiil¢ied D+sl9naied R•s*iloi•d EDdo¥ment Thls J•ar Laji ye4W Govemanc8 COSIS 19:.0. Exarniners Fees 1,680 1,680 1,656 Govern8nce costs Yoials 1.880 1,880 1,6 Expenses relarérfiolnv8sifflentpmpeni8s 2840. Ludge-lnsurance 2844. Lvdoe-lilalnlen8nce 2853- Soulhdown-IN5urance 2854_ SouthdoiYn-I,lJinlenance 28S6. Soulhdoi'in-CouncA Tax 2863- Shaftesèury-Insur6oce 2864. Shafle$bury-l.lJiilenance 1,419 1,186 457 1,085 1,4S5 240 1,622 2.08B 457 1.085 1,485 240 1,622 2,088 1.064 83 380 Expeiises relaipdw hivesimeni pmpertles Toials 8,977 6,977 S,749 4. Staff costs Wages, salaries andpensions Total salary costs of three employees in the year were £71,561, with employer's National Insurance costs of £6,110. The comparative figures for 2023 were £67,193 and £5,506 respectively for three employees. No employee received more than £60,000 in the either 2024 or 2023. Pension Builder Scheme Christ Church Roxeth participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers. CWPF has two sections: the Defined Benefits Scheme 2. the Pension Builder Scheme, which has two subsections,. a deferred annuity section known as Pension Builder Classic, and, a cash balance section known as Pension Builder 2014. Pension Builder Scheme Both sections of the Pension Builder Scheme are classed as defined benefit schemes. Penslon Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. Pension Builder2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.
Page15 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SOFA in the year are the contributions payable 2023.. £8,067, 12023: £5,970). A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022. For the Pension Builder Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2025, the Board chose to grant a discretionary bonus of 6.710 to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997,, and a bonus on pensions in payment in respect of post April 2006 service so that the pension i ncrease was 2.7/. (where usually it would be calculated based on inflation up to 2.5/.1. This followed improvements in the funding position over 2024. There is no requirement for deficit payments at the current time. The next valuation is due as at 31 December 2025. For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time, The legal structure of the scheme is such that if aF)Other employer fails, Christ Church Roxeth could become responsible for paying a share of the failed employer's pension liabilities. b. Payments to PCC members and key managementpersonnel The key management personnel that have been identified by the trustees include the members of the Standing Committee. Of these personnel, the Rev. Simon Durrant was remunerated by the Diocese. No member of the PCC received remuneration, expenses or benefits purely in respect of their services as members of the PCC. Members of staff occasionally attend PCC meetings and would normally leave the room during discussions on employment matters, as is deemed appropriate. The PCC has a conflicts of interest policy which is reviewed each year after the APCM. PCC members declare interests annually to the PCC Secretaryi and to the chair of each meeting when there is a relevant issue on the agenda.
Page 16 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 5. Investment property 3111212024 3111212023 Property 6430.. Property- Southdown 6432." Property- Lodge Roxelh Hlll 6435.. Property- Shaftesbury Parade 426.000 426.000 250,000 250,000 Totsl property 676,001 616,001 The f reehold land and buildings comprise.. The residential property at 69 Southdown Crescent, South Harrow, purchased in 1964 for housing a curate, as it was so used until 2010. Having been let as an investment property until December 2018, it was used to house a returning missionary family at a subsidised rent from January to July 2019. It was then used to house a church planting curate for Onechurch Harrow, with funds being provided by the Diocese of London and it is now again let as an investment. It was last valued by an Independent Chartered Surveyor at £315,000 in 2011, although the trustees revised this to £435,000 in 2018 based on subsequent changes to market value as determined by local property prices, a revaluation gain of £111,000. The current market value is deemed to be the fair value. The Lodge at the top of the Church drive is presently let to a church family. The Lodge, originally built on Glebe Land, was purchased by the PCC from the Incumbent for £1 in 1956, with an option for the incumbent to buy it back for £1 in the event of the PCC wishing to sell it. The trustees believe that the market value of the property is restricted to £1 as the restricted covenant has not been lifted and so deem this to be the fair value. A commercial shop unit with a maisonette above at 9 Shaftesbury Parade was purchased in 2012 and is let to the CCR Foundation for use as a charity shop. It was valued at £250,000 after the disposal of the maisonette on a 125 year lease. This is considered still to be the current market value of this investment property, and the current market value is deemed to be the fair value, The Hall and Lounge are adjacent to and attached to the church. The PCC does not intend to dispose of the Hall and Lounge and no capital value is assigned to it. b. In 2006, following the completion of the YMCA Roxeth Gate building, as part of the former Harrow Hospital nurses hostel redevelopment, Christ Church took the freehold of that portion of the site, which is vested in the London Diocesan Fund ILDFI, and Eranted a 125 year lease to the West London YMCA on a peppercorn rent until 2131 . The restrictiorls placed on the usage of the site and the terms of the lease are such that no value has been placed on the site and as such the asset does not appear on the PCC'S balance sheet. All the freehold property noted above is vested in the LDF under the Parochial Church Councils (Powers) Measure 1956. The PCC is the managing trustee. Since the PCC substantively bears the risks and rewards of ownership, the value of these f reehold assets is included in the PCC balance sheet,
Page 17 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH NOTES TO TFIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 6. Analysis of net assets and liabilities Vrevious bplance Balance Tangible assèt$ 6430: Property- Southdown-ABBel Capttal Deslonalod 426.000 426,000 426,000 426.000 6432,. Property- Lodae Rox&th Hlll. Assel Capltal D951gnaled 6435,, Piope¥ty- Shllltesbury Parade- Aisèt Capllal Deslgnaled 250.000 250.000 250,000 250,000 Tangible assets 676.001 676,001 Cash at bank and In hand 0501.. Bank current account.Assel General lund Youih-Rèslilcted Youlh-Deslonaled Chlldièn-Reslrided Chlldren-Deslgnal6d Giange Faitn Comrnunlty Mlsslon Fund Premlses DelOpment Fund Piemlses Development Fund fvllsslon-R881rlctett Mcar DSscrelonary Vicar Dlscrellonary CommunltyRèsources Fund Agency colledlon Unreslrlded Resliicted Deslgnaled Reslticted Deslgnaled Designaletj Designaled Reslrlcle(S Reslricted Daslgnal8d Reslrlcted Rèsliided Reslrlcted 28,218 132.003 147,1681 389 127,7451 11,7061 38,305 195,6961 53,016 26,365 15,7331 10.907 49,891 1101,0361 54,099 28,129 [7,2291 10,907 613 613 63,591 03,550 6520,. Hampshlre Ttusl Bank_Assel Grange Farm Communlty Mlsslon Fund Deslgnaled 60.606 00,606 60.454 60,454 8530.. M&G l¢)vestm8lEts-As5et Grange Farrn Communlty Idisslon Fund De31onaled 76,661 76,661 70,325 70,325 Cash at bank and In hand 200.858 214,329 Dèbtors Z05: Accottnts Rac1br9-ASset General fund UnreslrScied Debtors Agency account$ 6fj99.' Aoency colleciions- Llability Ag8ncy colldion Reslilde 289 289 289 289 Agency accounls 289 289 Credltors: Amounts lalllno duè In oneyear Z04.' Accounts Payable- Llabllity Gènèral fvnd Unr¢$lrfcled 1,680 1,6BO 1,690 1,6BO rs.. Amounts lalllno due Irb on8 year 1,6BO 1,680 Grand Total 874,890 BB8,361
Page 18 PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH ROXETH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 7. Statement of funds Fund Fund broughi lor¥4wd Outgolng Resouici*S Tw•nsfews Qains 4nd FvThd balan¢e5 Lossès Cariled foi¥aid Resouw¢es General f4ntl YDUth-Reslricted Youlh.De&igfialed Cttikjren-Restrted ChibJren-Desi9n&led Grano& Farm Communty I,15[an Fund Prerni4es Developmenl Fund I,Ik85ion-Restricted 430,323 147,1681 389 (27,7451 11,7061 169,085 142,6801 26,385 ,173 227,720 4,100 95 5,825 4,246 11,585 6,083 1,764 192,611 38,863 17 33,136 4,875 1138.8941 81,932 14271 55.of 2,333 26,538 6,487 187,158 146.9381 28,129 3,678 10,340 Vlcar- Vicar DisctiOnary Cornrwnty ResDur¢g& Fund Agency collection Capit81- Capital 1,496 323 676,001 323 676,001 Totals •88.3811 261.Y80 281.339 6.487 871.890 Thorg may be fflinordijcrepancl the totals if thepence are notbeingshown The Youth work Fund represents restricted funds donated to the church's youth & children's ministry. This includes grant fur)ding received from the Bishop of London's Mission Fund, Orley Farm School Trust and CCR Foundation to enable the employment of a Community Children's & Youth Worker. The Grange Farm Community Mission Fund represents designated funds set aside by the PCC from the proceeds of the sale of the Grange Farm Community Centre. These funds are supplemented by 75/9 of rental income received from 9 Shaftesbury Parade (the foundcharity shopl. These funds are set aside to be invested in community mission to the f uture estate and surrounding community. The Premises Development Fund (Designated) represents designated funds set aside by the PCC to carry out works to develop church premises. The Premises Development Fund (Restricted) represents restricted gifts received from church members to enable improvement to church premises. The Mission Fund represents restricted gifts received from church members to support global and local mission work. The Vicar's Discretionary Fund represents restricted gifts received from church members and funds set aside to enable the Vicar to disburse funds to respond to urgent pastoral needs. The Capital Fund represents the value of the unrestricted Freehold Property owned by the PCC, which comprises 69 Southdown Crescent (revalued at £426,000), the Charity Shop at 9 Shaftesbury Parade (included at 2012 independent valuation less capital mortgage owing) and The Lodge Irevalued at £11. See Note 5 for f urther information. 8. Related parties Some members of the PCC are also trustees of other charitable bodies lor are related to individuals) that receive mission donations and payments from the PCC. There is no financial benefit to any PCC member in these instances and the PCC'S conf lict of interest policy has been carefully applied in any discussions relating to f inancial arrangements. 9. Rounding Since the pence are not shown in these f inancial statements, there may be minor rounding differences within the statements.