DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
**Charity number: 1138421**
## **ST ANDREW'S CHURCH, ENFIELD**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **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|
|**Statement of cash flows**|7|
|**Notes to the financial statements**|8 - 24|
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHURCH, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Trustees**
Revd. Dr. Steve Griffiths, Chair John Tanner (resigned 28 May 2023) Tony Leach Paul Edwards, Warden Laura Bruce, Treasurer Dinos Kousoulou, Warden Ruth Mackay, Deanery Synod - Emma Oppong Addai (resigned 28 May 2023) Lekisha Atkinson Tracey Jenkins, Safeguarding Allison Paing Susan Saull Louise Sear Lowri Banfield Debbie McGill, Warden Irina Ponizova Mark Thebridge Barry Snelgrove (resigned 30 November 2023) Stephen Driver Olive Cope Dorothy Kousoulou (appointed 23 July 2023)
## **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
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
The Trustees present their annual report together with the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St. Andrew’s, Enfield (the church) for the year 1 January 2023 to 31 December 2023. 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 parish centre, as well as the chapel of rest.
The Incumbent and the PCC have considered the Charity Commissioner’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. 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 regularly during Sunday morning services.
## **b. Public Benefit Statement**
In producing their assessment of the benefit provided by the charity, the PCC confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit and, in particular, the specific guidance on the advancement of religion for the public benefit.
## **Achievements and performance**
## **a. Review of activities**
The PCC met four times during 2023. The minutes of the meetings are on the church website.
At the 2023 APCM, new members of the PCC were elected. At the first meeting after the APCM, Tracey Jenkins was coopted to the PCC again as Safeguarding Officer. Dinos Kousoulou continued as PCC Secretary and Laura Bruce was reappointed as Treasurer.
Building on the need to address significant financial and other challenges that the PCC started to address, under the leadership of Rev. Dr. Steve Griffiths in the second half of 2014, the PCC has dealt with a number of major developments in 2023. These actions have been developed as a result of the Mission Action Plan, launched in March 2019. They include: employing a Children & Families Worker, the running of short study courses, implementation of compliance policies, development of various online and inbuilding ministries, and fabric work in the Church to address ongoing maintenance needs.
## **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.
## **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.
It is our policy to hold funds that are not needed to defray immediate expenditure within a CBF Church of England Deposit Fund.
Page 2
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **c. Financial performance 2023**
Unrestricted income of £743,457 and unrestricted expenditure of £186,361, gave rise to a surplus this year of £557,096. After some restricted fabric expenditure, this surplus is reduced by £11,977.
The PCC undertook very few fabric repairs through 2023, and was informed of a significant legacy during the year which has been reflected as a debtor at year end.
Our finances are under control and we are able to meet our normal short- and medium-term needs. However, it has to be mentioned again that we will continue to incur significant repair costs as we attend to works identified in the Quinquennial Report.
Looking forward in 2024 we are planning to make further progress with the fabric projects, and to spend money on developing other initiatives for the church. We will aim to retain our surplus situation for year-end 2024.
## **Structure, governance and management**
## **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.
The method of appointment of PCC members is set out in the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.
## **Plans for future periods**
2024 will have as its primary foci: i) developing our existing range of worship services ii) embedding new leaders and staff into the mission and ministry life of St. Andrew’s iii) responding to the information contained within the last Quinquennial and vi) consolidating our new level of financial stability at the church.
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: 19 May 2024
Page 3
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
**ST ANDREW'S CHURCH, ENFIELD**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 2023.
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**
Since the church's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.
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: 20 May 2024 Robert Smith ACA
## **Griffin Stone Moscrop & Co**
Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Page 4
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Income from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
Investments
4
Other income
5
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
6
**Total expenditure**
**Net (expenditure)/income**
Transfers between funds
13
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2023**
**£**
**301**
**-**
**-**
**-**
**-**
**301**
**-**
**12,278**
**12,278**
**(11,977)**
**4,244**
**(7,733)**
**43,027**
**(7,733)**
**35,294**|**Unrestricted**
**funds**
**2023**
**£**
**596,444**
**145,000**
**-**
**1,147**
**866**
**743,457**
**103**
**186,258**
**186,361**
**557,096**
**(4,244)**
**552,852**
**140,345**
**552,852**
**693,197**|**Total**
**funds**
**2023**
**£**
**596,745**
**145,000**
**-**
**1,147**
**866**
**743,758**
**103**
**198,536**
**198,639**
**545,119**
**-**
**545,119**
**183,372**
**545,119**
**728,491**|_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_|
The notes on pages 8 to 24 form part of these financial statements.
Page 5
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
13
Unrestricted funds
13
**Total funds**|**544,047**
**207,905**
**751,952**
**(24,779)**|**2023**
**£**
**1,318**
**1,318**
**727,173**
**728,491**
**728,491**
**35,294**
**693,197**
**728,491**|_6,076_
_189,732_
_195,808_
_(15,618)_|_2022_
_£_
_3,182_|
|---|---|---|---|---|
|||||_3,182_
_180,190_|
|||||_183,372_|
||||||
|||||_183,372_|
|||||_43,027_
_140,345_|
||||||
|||||_183,372_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**Revd. Dr. Steve Griffiths** (Chair of Trustees) Date: 19 May 2024
The notes on pages 8 to 24 form part of these financial statements.
Page 6
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of tangible fixed assets
**Net cash provided by/(used in) investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 8 to 24 form part of these financial statements|**2023**
**£**
**17,026**
**1,147**
**-**
**1,147**
**-**
**18,173**
**189,732**
**207,905**|_2022_
_£_
_40,285_
_-_
_(2,149)_
**(2,149)**
**-**
**38,136**
_151,596_
_189,732_|
|---|---|---|
Page 7
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
**ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the church has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the church, can be reliably measured.
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 8
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
**ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 raising funds includes all expenditure incurred by the church to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
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 9
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
**ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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:
- Office equipment 33% on straight line - Computer equipment 33% on straight line
## **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 10
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Income from donations and legacies**
|Donations
Legacies
Grants
Tax recoverable
**Total 2023**
Donations
Tax recoverable
_Total 2022_|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
-
48,573
-
540,000
301
-
-
7,871
301
596,444
_Unrestricted_
_funds_
_2022_
_£_
_51,726_
_9,577_
_61,303_|**Total**
**funds**
**2023**
**£**
**48,573**
**540,000**
**301**
**7,871**|
|---|---|---|
|||**596,745**|
|||_Total_
_funds_
_2022_
_£_
_51,726_
_9,577_|
|||_61,303_|
Page 11
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **3. Income from charitable activities**
|**Unrestricted**
**funds**
**2023**
**£**
Lease of Parish Centre
120,000
Parking
12,000
Rent of flat
12,000
Sub station rent
1,000
**Total 2023**
145,000
_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_|**Total**
**funds**
**2023**
**£**
**120,000**
**12,000**
**12,000**
**1,000**|
|---|---|
||**145,000**|
||_Total_
_funds_
_2022_
_£_
_104,675_
_12,000_
_12,000_
_1,000_|
||_129,675_|
## **4. Investment income**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2023**|**2023**|_2022_|
||**£**|**£**|_£_|
|Bank interest|1,147|**1,147**|_-_|
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DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **5. Other incoming resources**
|PCC fees
PCC fees|**Unrestricted**
**funds**
**2023**
**£**
866
_Unrestricted_
_funds_
_2022_
_£_
_1,722_|**Total**
**funds**
**2023**
**£**
**866**|
|---|---|---|
|||_Total_
_funds_
_2022_
_£_
_1,722_|
Page 13
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **6. 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**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
12,278
186,258
_Restricted_
_funds_
_2022_
_Unrestricted_
_funds_
_2022_
_£_
_£_
_31,231_
_122,228_
**Staff costs**
**2023**
**Other costs**
**2023**
**£**
**£**
22,088
176,448
_Staff costs_
_2022_
_Other costs_
_2022_
_£_
_£_
_4,638_
_148,821_
**Activities**
**undertaken**
**directly**
**2023**
**Support**
**costs**
**2023**
**£**
**£**
117,564
80,972|**Total**
**2023**
**£**
**198,536**
_Total_
_2022_
_£_
_153,459_
**Total**
**2023**
**£**
**198,536**
_Total_
_2022_
_£_
_153,459_
**Total**
**funds**
**2023**
**£**
**198,536**|
|---|---|---|
## **7. Analysis of expenditure by activities**
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## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7. Analysis of expenditure by activities (continued)**
|Church activities
**Analysis of direct costs**|_Activities_
_undertaken_
_directly_
_2022_
_£_
_77,897_|_Support_
_costs_
_2022_
_£_
_75,562_|_Total_
_funds_
_2022_
_£_
_153,459_|
|---|---|---|---|
|||||
|Staff costs
Ministry: Diocesan Quota
Ministry: Clergy Expenses
Maintenance: Church Vicarage
Maintenance: Parish Centre
Flowers
Wages and Salaries
**Total 2023**|**Total**
**funds**
**2023**
**£**
**22,088**
**72,410**
**7,356**
**-**
**-**
**1,336**
**14,374**
**117,564**|_Total_
_funds_
_2022_
_£_
_4,638_
_63,000_
_7,077_
_838_
_110_
_634_
_1,600_|
|---|---|---|
|||_77,897_|
Page 15
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Heat, Light and Water
Maintenance: Church Vicarage
Insurance
Sundry Expenses
Parish office administration
Consultancy charged to MABS fund
Depreciation
Restoration project expenditure
Bank charges
Cleaning, rubbish disposal and pest control
Consultancy fees
Governance costs
**Total 2023**|**Total**
**funds**
**2023**
**£**
**20,541**
**11,839**
**8,023**
**4,424**
**11,481**
**134**
**1,864**
**7,900**
**265**
**7,437**
**4,244**
**2,820**
**80,972**|_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_|
Page 16
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **8. Staff costs**
|Wages and salaries
Contribution to defined contribution pension schemes|**2023**
**£**
**21,668**
**420**
**22,088**|_2022_
_£_
_4,556_
_82_|
|---|---|---|
||||
|||_4,638_|
The average number of persons employed by the church during the year was as follows:
|Full time staff
Part time staff|**2023**
**No.**
**-**
**2**
**2**|_2022_
_No._
_1_
_2_|
|---|---|---|
||||
|||_3_|
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 (2022 - the same). The church contributes to the Diocesan Common Fund and the incumbent is remunerated directly by the Diocese.
## **9. Trustees' expenses**
During the year ended 31 December 2023, expenses totalling _£_ 6082 (2022 - £nil) were reimbursed or paid directly to 5 Trustees (2022 - 0 Trustees).
Page 17
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **10. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2023
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
At 31 December 2023
_At 31 December 2022_|**Plant and**
**machinery**
**£**
**1,170**
**1,170**
**33**
**390**
**423**
**747**
_1,137_|**Computer**
**equipment**
**£**
**5,755**
**5,755**
**3,710**
**1,474**
**5,184**
**571**
_2,045_|**Total**
**£**
**6,925**|
|---|---|---|---|
||||**6,925**|
||||**3,743**
**1,864**|
||||**5,607**|
||||**1,318**|
||||_3,182_|
Page 18
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **11. Debtors**
## **12.**
|**Due after more than one year**
Other debtors
**Due within one year**
Parish centre hire and other debtors
Prepayments and accrued income
Tax recoverable
Grants receivable
**Creditors: Amounts falling due within one year**
Invoices owed to suppliers
Accruals and deferred income|**2023**
**£**
**270,000**
**270,000**
**-**
**1,791**
**2,256**
**270,000**
**544,047**
**2023**
**£**
**46**
**24,733**
**24,779**|_2022_
_£_
_-_|
|---|---|---|
|||_-_
_64_
_3,829_
_2,183_
_-_|
||||
|||_6,076_|
|||_2022_
_£_
_185_
_15,433_|
||||
|||_15,618_|
Page 19
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **13. 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**
**2023**
**£**
**140,345**
**379**
**42,648**
**43,027**
**183,372**|**Income**
**£**
**743,457**
**-**
**301**
**301**
**743,758**|**Expenditure**
**£**
**(186,361)**
**(4,378)**
**(7,900)**
**(12,278)**
**(198,639)**|**Transfers**
**in/out**
**£**
**(4,244)**
**4,244**
**-**
**4,244**
**-**|**Balance at**
**31**
**December**
**2023**
**£**
**693,197**|
|---|---|---|---|---|---|
||||||**245**
**35,049**|
||||||**35,294**|
||||||**728,491**|
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
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **13. 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_
_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_|
Page 21
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **14. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds|**Balance at 1**
**January**
**2023**
**£**
**140,345**
**43,027**
**183,372**
_Balance at_
_1 January_
_2022_
_£_
_129,823_
_14,108_
_143,931_|**Income**
**£**
**743,457**
**301**
**743,758**
_Income_
_£_
_192,900_
_-_
_192,900_|**Expenditure**
**£**
**(186,361)**
**(12,278)**
**(198,639)**
_Expenditure_
_£_
_(122,228)_
_(31,231)_
_(153,459)_|**Transfers**
**in/out**
**£**
**(4,244)**
**4,244**
**-**
_Transfers_
_in/out_
_£_
_(60,150)_
_60,150_
_-_|**Balance at**
**31**
**December**
**2023**
**£**
**693,197**
**35,294**|
|---|---|---|---|---|---|
||||||**728,491**|
||||||_Balance at_
_31_
_December_
_2022_
_£_
_140,345_
_43,027_|
|**Summary of funds - prior year**||||||
|General funds
Restricted funds||||||
||||||_183,372_|
## **15. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Tangible fixed assets
Debtors due after more than one year
Current assets
Creditors due within one year
**Total**|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
-
1,318
-
270,000
35,294
446,658
-
(24,779)
35,294
693,197|**Total**
**funds**
**2023**
**£**
**1,318**
**270,000**
**481,952**
**(24,779)**|
|---|---|---|
|||**728,491**|
Page 22
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **15. 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_
_2022_
_£_
_-_
_43,027_
_-_
_43,027_|_Unrestricted_
_funds_
_2022_
_£_
_3,182_
_152,781_
_(15,618)_
_140,345_|_Total_
_funds_
_2022_
_£_
_3,182_
_195,808_
_(15,618)_
_183,372_|
|---|---|---|---|
|**16.**
**Reconciliation of net movement in funds to net cash flow from operating activities**
**2023**
**£**
Net income for the year (as per Statement of Financial Activities)
**545,119**
**Adjustments for:**
Depreciation charges
**1,864**
Dividends, interests and rents from investments
**(1,147)**
Increase in debtors
**(537,971)**
Increase in creditors
**9,161**
**Net cash provided by operating activities**
**17,026**
**17.**
**Analysis of cash and cash equivalents**
**2023**
**£**
Cash in hand
**207,905**
**Total cash and cash equivalents**
**207,905**|_2022_
_£_
_39,441_
_1,561_
_-_
_(1,490)_
_773_
_40,285_
_2022_
_£_
_189,732_
_189,732_|
|---|---|
Page 23
DocuSign Envelope ID: 5AEA2AF3-2FA9-4FBB-A9D6-55329FE7AB6B
## **ST ANDREW'S CHURCH, ENFIELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **18. Analysis of changes in net debt**
|Cash at bank and in hand|**At 1**
**January**
**2023**
**£**
**189,732**
**189,732**|**Cash flows**
**£**
**18,173**
**18,173**|**At 31**
**December**
**2023**
**£**
**207,905**|
|---|---|---|---|
||||**207,905**|
## **19. 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 £420 (2022 - £82).
## **20. Related party transactions**
The aggregate donations given by PCC members in the year amounted to £19,815 (2022 - £15,770).
Payments totalling £3,768 were paid in the year to A&R Design, a company owned by Allison Paing (trustee) and her husband.
Page 24