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2022-12-31-accounts

Charity number: 1138421

ST ANDREW'S CHURCH, ENFIELD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

ST ANDREW'S CHURCH, ENFIELD

CONTENTS

Page
Reference and administrative details of the church, its Trustees and advisers 1
Trustees' report 2 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 23

ST ANDREW'S CHURCH, ENFIELD

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHURCH, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees

Revd. Dr. Steve Griffiths, Chair John Tanner Tony Leach Paul Edwards Laura Bruce, Treasurer Dinos Kousoulou Ruth Mackay Emma Oppong-Addai Lekisha Atkinson Tracey Jenkins Allison Paing Susan Saull Louise Sear Lowri Banfield Debbie McGill Irina Ponizova (appointed) Mark Thebridge (appointed) Barry Snelgrove Adele Barward-Symmons (Resigned) Rob Barward-Symmons (Resigned) Claire Reilly (Resigned) Illy Duce (Resigned) Richard Berndes (Resigned) Paul David (Resigned)

Charity registered number

1138421

Principal office

36 Silver Street Enfield Middlesex EN1 3EG

Accountants

Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Page 1

ST ANDREW'S CHURCH, ENFIELD

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report together with the financial statements of the church for the year 1 January 2022 to 31 December 2022. The Trustees confirm that the annual report and financial statements of the church comply with the current statutory requirements, the requirements of the church's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from October 2019).

Objectives and activities

a. Activities undertaken to achieve objectives

The primary object of the PCC is the promotion of the Gospel of the Lord Jesus. St. Andrew's PCC has the responsibility of co-operating with the Incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, social and ecumenical. It also has maintenance responsibility for the Haven.

The incumbent and the PCC have considered the Charity Commission’s guidance on public benefit. We try to achieve our objectives by carrying out a range of activities for the benefit of the parish and members of our congregation, including Sunday worship, small groups, church prayer gatherings, and other social events for the church family. Children’s groups meet twice a month on Sunday afternoons.

Achievements and performance

a. Review of activities

The PCC met 3 times during 2022 -23. The minutes of the meetings are on the church website.

We are pleased to appoint a student Children and Families Worker in 2022 for a 3-year period, enabling us to develop ministry in that area of church life.

We have also devoted time and energy to researching the history of St Andrew's Church through the social narrative lens of our many monuments. The findings are gradually being uploaded to our website.

We have reopened the church building for the public to use on Wednesdays and Saturdays.

Our bid to the National Lottery for restoration works was unsuccessful. In light of that, we are developing a new timetable and schedule of works for the fabric of the building.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

It is the PCC policy to maintain a balance on unrestricted funds (if possible), which equates to approximately three months of unrestricted payments to cover emergency situations and payroll commitments that may arise from time to time. As the balance on unrestricted funds (excludig fixed assers) at 31 December 2022 was £140,345 we were adequately meeting our target policy.

It is our policy to hold funds that are not needed to defray immediate expenditure within a CBF Church of England Deposit Fund.

c. Financial performance 2022

The church finances had unrestricted income of £192,900 (2021 - £193,105) and unrestricted expenditure of £122,228 (2021 - £119,281). The net movement in the year across all funds was an increase of £39,441.

Structure, governance and management

Page 2

ST ANDREW'S CHURCH, ENFIELD

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

a. PCC Membership

Members of the PCC are either ex-officio; or elected at the Annual Parochial Church Meeting (APCM) in accordance with Church Representation Rules.

Plans for future periods

As at 31 December 2022, the intention was to have as its primary foci:

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ Revd. Dr. Steve Griffiths, Chair (Chair of Trustees) Date:

Page 3

ST ANDREW'S CHURCH, ENFIELD

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Independent examiner's report to the Trustees of St Andrew's Church, Enfield ('the church')

I report to the charity Trustees on my examination of the accounts of the church for the year ended 31 December 2022.

This report is made solely to the church's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the church's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the church and the church's Trustees as a body, for my work or for this report.

Responsibilities and basis of report

As the Trustees of the church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

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

Independent examiner's statement

Your attention is drawn to the fact that the church has prepared the accounts in accordance with 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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 church as required by section 130 of the 2011 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.

This report is made solely to the church's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the church's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the church and the church's Trustees as a body, for my work or for this report.

Signed: Dated: Richard Hill FCA

Griffin Stone Moscrop & Co

Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Page 4

ST ANDREW'S CHURCH, ENFIELD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Other income
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net (expenditure)/income
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2022
£
-
-
-
-
-
-
31,231
31,231
(31,231)
60,150
28,919
14,108
28,919
43,027		 Unrestricted
funds
2022
£
61,303
129,675
200
-
1,722
192,900
122,228
122,228
70,672
(60,150)
10,522
129,823
10,522
140,345		 Total
funds
2022
£
61,303
129,675
200
-
1,722
192,900
153,459
153,459
39,441
-
39,441
143,931
39,441
183,372		 Total
funds
2021
£
74,645
123,109
339
30
4,183
202,306
178,699
178,699
23,607
-
23,607
120,324
23,607
143,931

The notes on pages 7 to 23 form part of these financial statements.

Page 5

ST ANDREW'S CHURCH, ENFIELD

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds		 6,076
189,732
195,808
(15,618)		 2022
£
3,182
3,182
180,190
183,372
183,372
183,372
43,027
140,345
183,372		 4,586
151,596
156,182
(14,845)		 2021
£
2,594
2,594
141,337
143,931
143,931
143,931
14,108
129,823
143,931

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Revd. Dr. Steve Griffiths, Chair

(Chair of Trustees) Date:

The notes on pages 7 to 23 form part of these financial statements.

Page 6

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

St Andrew's Church, Enfield meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Income

All income is recognised once the church has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is also recognised when received. Income tax recoverable on Gift Aid donations is recognised when the underlying income is recognised.

For legacies, entitlement is taken as the earlier of the date on which either: the church is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the church has been notified of the executor's intention to make a distribution.

Rental income from the formal letting of church premises is recognised in the SOFA in the accounting period to which the rental pertains.

Page 7

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies (continued)

1.3 Expenditure

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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the church. Governance costs are those incurred in connection with administration of the church and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities are costs incurred in relation to carrying out the church's ministry. These include support costs and costs relating to the governance of the church which are apportioned to charitable activities.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the church's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the church; this is normally upon notification of the interest paid or payable by the bank.

1.5 Tangible fixed assets and depreciation

Consecrated and benefice property of any kind is excluded from the financial statements by section 10(2)(c) of the Charities Act 2011.

Moveable church furnishings held by the Vicar and churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. For such alienable property there is insufficient cost information available and therefore such assets are not valued in the financial statements.

All expenditure incurred during the year on consecrated or benefice buildings or on repair or replacement of church furnishings is expensed within the Statement of Financial Activities.

Page 8

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies (continued)

1.5 Tangible fixed assets and depreciation (continued)

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

1.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash at bank and in hand

Cash at bank and in hand includes all cash held.

1.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the church anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.9 Financial instruments

The church only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.10 Pensions

The church operates a defined contribution pension scheme and the pension charge represents the amounts payable by the church to the fund in respect of the year.

1.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the church and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the church for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 9

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Income from donations and legacies

Donations
Tax recoverable
Total 2022		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
51,726
-
9,577
-
61,303		 Total
funds
2022
£
51,726
9,577
61,303
Donations
Tax recoverable
Total 2021		 Restricted
funds
2021
£
9,200
-
9,200		 Unrestricted
funds
2021
£
54,340
11,105
65,445		 Total
funds
2021
£
63,540
11,105
74,645

Page 10

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. Income from charitable activities

Unrestricted
funds
2022
£
Lease of Parish Centre
104,675
Parking
12,000
Rent of flat
12,000
Sub station rent
1,000
Total 2022
129,675
Unrestricted
funds
2021
£
Lease of Parish Centre
98,109
Parking
12,000
Rent of flat
12,000
Sub station rent
1,000
Total 2021
123,109		 Total
funds
2022
£
104,675
12,000
12,000
1,000
129,675
Total
funds
2021
£
98,109
12,000
12,000
1,000
123,109

Page 11

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2022
£
Traidcraft
200
Unrestricted
funds
2021
£
Traidcraft
339		 Total
funds
2022
£
200
Total
funds
2021
£
339

5. Investment income

Total
funds
2022
£
Restricted Unrestricted Total
funds funds funds
2021 2021 2021
£ £ £
Bank interest 1 29 30

Page 12

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Other incoming resources

PCC fees
PCC fees		 Unrestricted
funds
2022
£
1,722
Unrestricted
funds
2021
£
4,183		 Total
funds
2022
£
1,722
Total
funds
2021
£
4,183

Page 13

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. Analysis of expenditure on charitable activities

Summary by fund type

Church activities
Church activities
Summary by expenditure type
Church activities
Church activities
Analysis of expenditure by activities
Church activities		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
31,231
122,228
Restricted
funds
2021
Unrestricted
funds
2021
£
£
59,418
119,281
Staff costs
2022
Other costs
2022
£
£
4,638
148,821
Staff costs
2021
Other costs
2021
£
£
26,774
151,925
Activities
undertaken
directly
2022
Support
costs
2022
£
£
77,897
75,562		 Total
2022
£
153,459
Total
2021
£
178,699
Total
2022
£
153,459
Total
2021
£
178,699
Total
funds
2022
£
153,459

8. Analysis of expenditure by activities

Page 14

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. Analysis of expenditure by activities (continued)

Activities
undertaken Support Total
directly costs funds
2021 2021 2021
£ £ £
Church activities 95,823 82,876 178,699

Analysis of direct costs

Staff costs
Ministry: Diocesan Quota
Ministry: Clergy Expenses
Maintenance: Church Vicarage
Maintenance: Parish Centre
Flowers
Wages and Salaries
Festes and Fundraising events
Depreciation
Total 2022		 Total
funds
2022
£
4,638
63,000
7,077
838
110
634
1,600
-
-
77,897		 Total
funds
2021
£
26,774
62,000
3,952
2,580
110
72
-
85
250
95,823

Page 15

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Heat, Light and Water
Maintenance: Church Vicarage
Insurance
Sundry Expenses
Parish office administration
Festes and Fundraising events
Consultancy charged to MABS fund
Depreciation
Restoration project expenditure
Bank charges
Cleaning, rubbish disposal and pest control
Consultancy fees
Governance costs
Total 2022		 Total
funds
2022
£
5,718
9,366
7,713
1,934
10,598
-
9,072
1,561
21,282
349
3,909
1,400
2,660
75,562		 Total
funds
2021
£
4,962
8,130
7,536
875
7,672
1,886
1,664
1,447
40,807
300
4,162
1,275
2,160
82,876

Page 16

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Staff costs

Wages and salaries
Contribution to defined contribution pension schemes		 2022
£
4,556
82
4,638		 2021
£
26,096
678
26,774

The average number of persons employed by the church during the year was as follows:

Full time staff
Part time staff		 2022
No.
1
2
3		 2021
No.
1
5
6

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel comprise the PCC members and they received no remuneration in the year (2021 - the same). The church contributes to the Diocesan Common Fund and the incumbent is remunerated directly by the Diocese.

10. Trustees' expenses

During the year ended 31 December 2022, expenses totalling £ 3,077 (2021 - £2,537) were reimbursed or paid directly to 2 Trustees (2021 - 1 Trustee).

Page 17

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11. Tangible fixed assets

Cost or valuation
At 1 January 2022
Additions
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Plant and
machinery
£
-
1,170
1,170
-
33
33
1,137
-		 Computer
equipment
£
4,776
979
5,755
2,182
1,528
3,710
2,045
2,594		 Total
£
4,776
2,149
6,925
2,182
1,561
3,743
3,182
2,594

Page 18

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

12. Debtors

Due within one year
Parish centre hire and other debtors
Prepayments and accrued income
Tax recoverable		 2022
£
64
3,829
2,183
6,076		 2021
£
-
2,372
2,214
4,586

13. Creditors: Amounts falling due within one year

Invoices owed to suppliers
Accruals and deferred income		 2022
£
185
15,433
15,618		 2021
£
2,691
12,154
14,845

Page 19

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
MABS Fund
Restoration Project
Total of funds		 Balance at 1
January
2022
£
129,823
10,328
3,780
14,108
143,931		 Income
£
192,900
-
-
-
192,900		 Expenditure
£
(122,228)
(9,949)
(21,282)
(31,231)
(153,459)		 Transfers
in/out
£
(60,150)
-
60,150
60,150
-		 Balance at
31
December
2022
£
140,345
379
42,648
43,027
183,372

Purpose of restricted funds:

MABS Fund:

The MABS restricted fund supports Children and Families Ministry at St Andrews. We currently offer the following provision::

o Fortnightly Children and Families Service

Restoration Project:

Plans are underway for a major Restoration Project, developing St. Andrew’s to become: o a truly ‘community building’, open seven days a week for everyone to enjoy

o a major concert venue for North London, hosting choirs and orchestras, acoustic music performances, amateur dramatics, poetry readings etc.

o a Heritage Centre, in which people and groups can learn more about the history of the church, of Enfield, and the history of our nation encapsulated in so many of our wonderful monuments o a home for art exhibitions and history exhibitions

o a flexible space for creative and engaging worship and other community events

The restoration fund represents money being received and expended to fund the redevelopment.

Page 20

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds
Restricted funds
MABS Fund
Restoration Project
Total of funds		 Balance at
1 January
2021
£
55,999
23,938
40,387
64,325
120,324		 Income
£
193,105
5,001
4,200
9,201
202,306		 Expenditure
£
(119,281)
(18,611)
(40,807)
(59,418)
(178,699)		 Balance at
31
December
2021
£
129,823
10,328
3,780
14,108
143,931

Page 21

ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

15. Summary of funds

Summary of funds - current year

General funds
Restricted funds		 Balance at 1
January
2022
£
129,823
14,108
143,931		 Income
£
192,900
-
192,900
Balance at
1 January
2021
£
55,999
64,325
120,324		 Expenditure
£
(122,228)
(31,231)
(153,459)
Income
£
193,105
9,201
202,306		 Transfers
in/out
£
(60,150)
60,150
-
Expenditure
£
(119,281)
(59,418)
(178,699)		 Balance at
31
December
2022
£
140,345
43,027
183,372
Balance at
31
December
2021
£
129,823
14,108
Summary of funds - prior year
General funds
Restricted funds
143,931

16. Analysis of net assets between funds Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
3,182
43,027
152,781
-
(15,618)
43,027
140,345		 Total
funds
2022
£
3,182
195,808
(15,618)
183,372

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ST ANDREW'S CHURCH, ENFIELD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2021
£
-
14,108
-
14,108		 Unrestricted
funds
2021
£
2,594
142,074
(14,845)
129,823		 Total
funds
2021
£
2,594
156,182
(14,845)
143,931

17. Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £82 (2021 - £678).

18. Related party transactions

The aggregate donations given by PCC members in the year amounted to £15,770 (2021 - £6,600).

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