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2021-12-31-accounts

CHURCH OF ST. PAUL, MILL HILL

Meeting of the Parishioners for the purpose of electing Churchwardens

and

Annual Parochial Church Meeting

Sunday 8[th] May 2022

CHURCH OF ST. PAUL, MILL HILL

Meeting of the Parishioners for the purpose of electing Churchwardens, 8[th] May 2022

Agenda

  1. Appointment of Clerk

  2. Minutes: To approve the Minutes of the Meeting of 16[th] May 2021

  3. Churchwardens 2021 – 2022

  4. Churchwardens 2022 – 2023

Annual Parochial Church Meeting 8[th] May 2022

Agenda

  1. Appointment of Clerk

  2. Minutes: To approve the Minutes of the Meeting of 16[th] May 2021

  3. Reports

  4. 3.1. Electoral Roll Report (page 31) 3.2 Annual Report and Financial Statements (starting at page 8) 3.3 Fabric, Goods and Ornaments (page 30)

  5. Budget for 2021 - presentation and discussion (page 29)

  6. Appointment of Independent Examiner for the ensuing year

  7. Safeguarding at St. Paul’s

  8. Election of Lay Representatives to serve on Parochial Church Council

  9. Election of Sidesmen

  10. Date of first meeting of the new Parochial Church Council

  11. Vicar’s Report

  12. Any Other Business of parochial or general church interest

  13. Prayers

Page 2

MEETING OF THE PARISHIONERS FOR THE PURPOSE OF ELECTING CHURCHWARDENS Minutes of the Meeting of the Parishioners for the purpose of electing Churchwardens held Via Zoom on 16[th] May 2021

Present: The Revd J. James, The Revd Jan Lowe and 36 members of the laity. Apologies: Jeanette & Grahame Poulton

The Vicar welcomed everyone and opened the meeting with prayers.

1. Appointment of Clerk

Proposed by Mr S. Brown and seconded by Mrs L. Downes, by a show of hands Mrs K. Thompson was appointed to act as Clerk of the meeting.

2. Minutes

The minutes of the meeting held on 25[th] October 2020 had been circulated in advance of the meeting. Proposed by Mr D. Edgerton and seconded by Mrs J. Ferguson, by a show of hands the minutes were approved.

3. Churchwardens 2020/2021

The Vicar thanked Mr John Lee and Mr Bob Pace for the work they had done as churchwardens. Mr Pace had stepped down at the end of 2020.

4. Churchwardens 2021/2022

Nominations had been received for Ms Jane Shelbourn and for Mr John Lee. The Vicar expressed thanks to them for their fulfilment of this role.

They were elected together - proposed by Mrs Gillian Taylor, seconded by Ms Andrina Barnden, by a show of hands were duly elected by the parishioners.

The Vicar noted the hard work, wisdom and energy of Mr Lee and Ms Shelbourn and said that St. Paul’s were blessed to have such dedicated wardens.

The meeting closed.

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ANNUAL PAROCHIAL CHURCH MEETING

Minutes of the Annual Parochial Church Council Meeting held Via Zoom on 16[th] May 2021

Present: The Revd J. James, The Revd J. Lowe and 36 members of the laity. Apologies: Jeanette & Grahame Poulton.

1. Appointment of Clerk

Proposed by Ms J. Shelbourn and seconded by Mr W. Taylor, by a show of hands K. Thompson was appointed Clerk for the meeting.

2. Minutes of the Meeting of 25[th] October 2020

These minutes had been circulated in advance of the meeting. Approval of the minutes was proposed by Mrs P. Dean, seconded by Mr A. Dean and, by a show of hands, the minutes were approved.

Page 3

  1. Reports

3.1 Electoral Roll

Mrs K. Thompson read out the electoral roll report. With a loss of 0 names and a gain of 2 names the roll now stood at 163, representing a net gain of 2 names. The roll would be available for inspection in the parish office. There were no questions.

3.2 Annual Report and Financial Statements

These, comprising The Independent Examiner’s Report, The Annual Report of the PCC and Review of the Year 2020, The Financial Review and Accounts for year ending 31[st] December 2020 and Statements of Funds and Property had been distributed prior to the meeting.

Mrs Carol Reid was not present at the meeting, but the Vicar asked if there any questions. There were none and thanks were expressed to Mrs Reid for all the work she did as Treasurer.

Adoption of the Annual Report and Accounts was proposed by Mr S. Brown, seconded by Mr D. Edgerton and, by a show of hands, was carried.

3.3 Fabric. Goods & Ornaments

Mr Lee reported on a few items of routine maintenance and minor repairs. He noted that 2020 had been very different for everyone with lockdowns and restrictions, and challenges continued. There had been a lot of focus on health and safety, and he thanked Mrs Gillian Taylor for her help coordinating the maintenance items and the extra work brought about during the pandemic.

The audio-visual systems had been upgraded so the services could be enjoyed by everyone. The coming year would see more maintenance work, particularly on the pinnacles, which should start in the summer of 2021. The Vicar noted that the work on the pinnacles would involve a considerable amount of scaffolding. There were no questions.

Adoption of the Fabric Goods and Ornaments report was proposed by Miss G. Tompsett, seconded by Mrs G. Collier and, by a show of hands, was carried.

4. Budget for 2021 – Presentation and Discussion

The Vicar asked for questions on the budget – Mr Crane asked about the deficit of £22,000 being budgeted for and what the plans were to correct this position to prevent the church running out of funds. In Mrs Reid’s absence, Mr Lee noted that in 2020 there was a surplus of £20,000, which would be added to reserves and this would be used to help balance the books. The Vicar noted that St. Paul’s was following God’s lead and being realistic. Mrs L. Downes noted that it was very impressive that there was a surplus last year so that could be carried over. Mr A. Roberts said that he thought the money sitting in the reserves was very high and these resources should be being used for the work of the church. He was concerned that the budget showed a reduction of £2,000 in mission where it should arguably have doubled. The Vicar noted that she looked forward to him joining the PCC shortly to discuss this further.

Acceptance of the Budget for 2022 was proposed by Mrs J. Ferguson, seconded by Mr D. Edgerton, and by a show of hands this was carried, with one against.

5. Appointment of the Independent Examiner for the Ensuing Year

Martyn Atkinson at Sopher & Co had agreed to continue as examiner. Approval of this was proposed by Mrs K. Thompson, seconded by Mr A. Roberts and, by a show of hands, carried. Thanks were expressed to Mr Atkinson for all his work on the accounts.

Page 4

6. Safeguarding at St. Paul’s

Mr Simon Brown, Safeguarding Officer for St. Paul’s, stated that there was nothing to report.

7. Election of Lay Representatives to serve on the Parochial Church Council

The Chair thanked those coming to the end of their term on the PCC for their service: Mrs Jane Ferguson, Mrs Lee Downes and Mr Bernard Mayengehama.

Mrs K. Thompson, Mr S. Brown and Mr D. Edgerton had also come to the end of their terms, but as they held particular positions, they would be co-opted for a year.

Nominations for 2021/2022 were:

Mr Alan Roberts, Mrs Pat Dean and Mrs Louise Grainger.

En bloc their nominations were proposed by Miss G. Tompsett, seconded by Mrs F. Reynoldson, and by a show of hands, they were elected.

The Vicar welcomed the new members to the PCC.

8. Barnet Deanery Synod

The Vicar reminded the meeting that the West Barnet Deanery Synod had merged and become one Deanery Synod for Barnet. Because of the COVID situation and the appointment of a new Area Dean things had been difficult and there had only been one meeting.

The Vicar noted that the General Synod would be discussing same-sex marriage and LGBTQ issues and reiterated that St. Paul’s had never agreed with the blessing of same-sex marriage and had followed the Church of England policy. A resource had been put together to help parishes discuss these issues together and this would be done towards the end of the year.

9. Lay Representative to Serve on the Barnet Deanery Synod

Nominations for 2021/2022 were:

Mrs Ide Adelaja, Ms Jane Shelbourn and Mrs Fiona Reynoldson.

Proposed by Mr M. Fleming, seconded by Mr J. Lee, by a show of hands they were elected.

10. Election of Sidespeople

The sidesman list was unchanged since the last APCM.

11. Date of the First Meeting of the New PCC

This would be held via Zoom at 8.00pm on Thursday 20[th] May 2021.

12. Vicar’s Report

Revd Jo James reflected that the first report that she shared in April 2019 had talked about uncertain times. This paled into insignificance given the events of the last two years and the fact that this was the second APCM held via Zoom, and was an indication of some of the upheaval endured in the last year, both as a church and individually.

Some of the good things to be celebrated since last October included Christmas going ahead and the church being beautifully decorated by Anne and Peter Coles, Pauline Pescod, Pat Wildman and Jan Lowe. St. Paul’s School made some of the decorations and there was a large tree and lights. Most of the services were streamed and St. Paul’s School were able to have their Christmas services

Page 5

in three ‘bubbles’ in the church. The ability to livestream services, including funeral services, had been a huge blessing, as it has prevented people from feeling isolated from church. Thanks were expressed to John Lee for setting up and monitoring the Internet connection each week and operating the camera during the services, and also to her husband Peter, not just for playing the organ, but for setting up the hymns and songs, and monitoring the sound balance.

Andrina Barnden, Liz Kettle and Jane Shelbourn had also mastered the CD and volume control for services, and it was hoped that more people could be trained to spread the load.

Night Shelter had continued to receive support from St. Paul’s in the hotel in Golders Green. The Vicar requested meal cover for some slots in the coming weeks. Some food had also been provided to local families who were struggling to give their children enough to eat and financial support had been given to various mission organisations.

Two sad occasions took place at the beginning of the year: the funerals, firstly of Valerie Ross, a choir member and longstanding, dear friend of many, who was greatly missed, and also Spencer Layman, who had recently become a member of the churchyard team and who is also greatly missed. We grieve their loss and hold in prayer families and friends of all those who had lost loved one over the past months.

The start of the year saw the beginning of the pre-recorded services, streamed when the church was closed during lockdown, and then during Lent the live-streaming started when everyone was allowed back into church. There had been a fantastic celebration on Easter Sunday, where there were 67 people sitting socially-distanced in church; it was also wonderful to see Aryan baptised that day.

A priority for St. Paul’s was nurturing the younger members of the church, and the 9.30am family worship had started up again, allowing families to meet in the hall to get involved with craft, Bible story and worship. The Vicar thanked June Lee and Ide Adelaja for their help and support in talking and sharing with the families. The main service was still being held at 10.30am, originally done to accommodate a coffee Zoom at 11.00am, and it would continue at this time while things were still uncertain. The focus over the coming months would be to remain ‘rooted in prayer’, growing the church family and reaching out to the local community in God’s love.

There would be an event in June as part of Churches Count on Nature Week – Simon Brown had more details. When singing together was allowed again in church it would be good to get together to enjoy singing favourite hymns. Some teaching was also planned to look at what it meant to live as a Christian in today’s world, encouraging everyone to dig deeper and to grow in faith. Being ‘rooted in prayer‘ meant being committed to seeking God’s direction for our future and asking how St. Paul’s can better serve the local community. This included supporting Revd Ryan Venn-Dunn’s work as a pioneer paster in Millbrook Park and building on links with local schools.

After a tough year, the Vicar thanked everyone for being here and continuing to show care and commitment to one another at St. Paul’s. She thanked her family for their encouragement and support. She was grateful for the support of the St. Paul’s staff team, clergy and wardens, who were focused on seeking God’s guidance going forward.

Romans 12:12 Rejoice in hope, be patient in suffering and persevere in prayer.

There was a lot to be thankful and hopeful for.

  1. Any Other Business – none.

  2. The meeting closed with prayers.

Page 6

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PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

CONTENTS

CONTENTS CONTENTS
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Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 8
Members' Report 9-13
Independent Examiner's Report 14
Statement of Financial Activities 15
Balance Sheet 16
Notes to the Financial Statements 17-28

Page 7

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PAROCHIAL CHURCH COUNCIL OF ST PAUL’S, MILL HILL

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, IT’S TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

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ST. PAUL’S CHURCH, MILL HILL ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31[st] DECEMBER 2021

PAROCHIAL CHURCH COUNCIL FOR THE
YEAR ENDED 31st DECEMBER 2021
St. Paul’s Church The Ridgeway, Mill Hill NW7 1QU
Incumbent Reverend Joanna James
Bank HSBC, 103 Station Road Edgware, HA8 7JJ
Independent Examiner Martyn Atkinson, 51 Lawrence Gardens, Mill Hill, London NW7 4JU

Administrative Information

St. Paul’s Church is situated on The Ridgeway, Mill Hill, north west London. It is part of the West Barnet Deanery within the Diocese of London. The correspondence address is St. Paul’s Church Parish Office, The Ridgeway, Mill Hill, London NW7 1QU.

The following have served on the PCC during 2021

Clergy Reverend J. James
Reverend J. Lowe
Reverend R. Venn-Dunn
Churchwardens Mr John Lee
Ms Jane Shelbourn
Deanery Synod Mr I. Coombes (until APCM 2021)
Ms J. Shelbourn (from APCM 2021)
Mrs F. Reynoldson
Mrs P. Dean (until APCM 2021)
Elected members Mrs Ide Adelaja
Mr S. Brown
Mrs A. Cheasty
Mr M. Crane
Mrs P. Dean
Mrs L. Downes (until APCM 2021)
Mr D. Edgerton
Mrs J. Ferguson (until APCM 2021)
Mrs L. Grainger (from APCM 2021)
Mrs L. Padaruth
Mr A. Roberts (from APCM 2021)
Mrs C. Reid Treasurer
Mrs K. Thompson Secretary

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PAROCHIAL CHURCH COUNCIL OF ST PAUL’S, MILL HILL

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, IT’S TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

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Structure, Governance and Management

The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The method of appointment of PCC members is set out in Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC has ultimate responsibility for a wide range of matters affecting the parish, including compliance with health & safety, disability discrimination legislation, data protection, safeguarding and child protection, and to this end participates in appropriate training procedures including Deanery Training Days attended by a PCC representative who reports back to the PCC. There is a stated policy of preferring not to have more than one member of the same family serving on the Council concurrently.

Objectives and Activities

St. Paul’s PCC is responsible, in co-operation with the clergy and Churchwardens, for promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical, both within the parish and further afield. The Pandemic has meant that this mission has continued to be somewhat curtailed, but the situation has been immeasurably better than the previous year and church worship and meetings has increased where regulations have allowed. Consideration has been given to the Commission’s guidance on public benefit, particularly the advancement of religion. This includes:

There is also the opportunity for all to participate in:

The full PCC met 6 times during the year via Zoom, with an average attendance of 83%. the management Committee met between PCC meetings and minutes of their deliberations were received by the full PCC and discussed where necessary.

The PCC operates through two committees and various working groups. The Standing Committee, the only committee required by law, has the authority to transact the business of the PCC, subject to any directions from the Council. It meets only when required. The Management Committee is a small committee that meets between the full meetings of the PCC, to which it submits a written report. It is responsible for the finances of the church and church hall buildings, the churchyard and the house at 46 Shakespeare Road. The Stewardship Committee comes under the aegis of the Management Committee.

Page 9

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PAROCHIAL CHURCH COUNCIL OF ST PAUL’S, MILL HILL

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, IT’S TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

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Working Groups operate as and when required, reporting directly to the PCC. The current working groups are Family Worship and Mission.

Achievements and Performance

Worship and Prayer

In normal circumstances, St. Paul’s seeks to offer a variety of services throughout the year, catering for quiet contemplation, family worship and more formal worship. When possible this year, families attended special services set up in the church hall to enable meeting in family groups with social distancing – music and craft activities were enjoyed by parents, carers and children alike.

Church Attendance

All are welcome to attend our regular services. There were 163 parishioners on the Church Electoral Roll.

The Church Buildings

St. Paul’s buildings provide a source of interest and delight to visitors. Ordinarily, the buildings would be open as much as possible, providing visitors with a tour given by informed parishioners.

Deanery Synod

Currently there are three members of the PCC who sit on the deanery synod. This provides the PCC with a valuable link between the parish and its neighbours in the deanery, helping to give reference points and a broader overview of common issues. The deanery synod members report to the PCC on speakers and discussions, enabling St. Paul’s to gain insight and share the thoughts of other parishe s.

Mission

St. Paul’s has been faithful in its commitment to help those in need as a tangible demonstration of our Christian faith. The Mission Committee advises the PCC in its giving and ensures that funds are purposefully targeted both home and overseas where it was felt they would be put to good use.

Our weekly Church Family Update, emailed and posted to those not on email, has kept people up to date with general notices, planned worship events and any other important news items, to enable all members to remain in touch with church life as much as possible.

Review of the Year

The COVID-19 pandemic, which began in 2020, continued to cause disruption in 2021, and the beginning of the year saw heavier restrictions again. However, this did not stop St. Paul’s keeping its congregation in touch, as online services ensured regular worship when members were unable to attend in person. Revd Ryan Venn-Dunn continued to be in contact with families throughout this period and the Tuesday evening prayer group kept going throughout. The church was open for an hour to remember Prince Philip, Duke of Edinburgh, following his death on 9[th] April. Easter saw the church re-open weekly for main services and the 8am services restarted at the end of June; numbers gradually recovered a little, with new families slowly increasing. Groups started to meet again, Tuesday Group and Men’s Breakfast, and there were Lent courses online.

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PAROCHIAL CHURCH COUNCIL OF ST PAUL’S, MILL HILL

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, IT’S TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

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June saw St. Paul’s host a churchyard event, Churches Count on Nature, the aim of which was to discover the variety of flora and fauna found in churchyards across England and Wales and was jointly run by the conservation charities Caring for God's Acre, A Rocha UK, the Church of England and the Church of Wales. It was a lovely day and well attended – thanks go to Michael Worms and Simon Brown for their work on this.

Revd James, Lowe and Revd Venn-Dunn regularly went into St. Paul’s School doing assemblies. Revd VennDunn took a group of youngsters to the Isle of Wight during the school holidays and The Urban Saints began holding social meetings at St. Paul’s to encourage fellowship and giving the opportunity to grow their relationship with Jesus. At Christmas, the carol service saw some children from St. Paul’s School join with the adults to sing; thanks go to Mr Peter James for teaching the children and for his help with the music every week during services.

The Night Shelter could not operate in the church hall as previously, but the hotel in Golders Green continued to host the homeless guests and local churches, including St. Paul’s, provided meals for them. In the autumn, the Harvest service was followed by a successful family lunch in the church hall and the annual Memorial Service took place in October.

The biggest event in terms of the church buildings was the refurbishment of the pinnacles. Their condition had deteriorated over the past few years, and they had to be stripped back and re-rendered by DBR Ltd. The process was managed for St. Paul’s by Mr John Lee, involving liaising with the contractor and keeping the PCC up to date with developments, for which grateful thanks are given. The scaffolding was erected in August and was taken down when the work was completed in December, just in time for Christmas services. The church was open throughout the process and there was no obstruction to general church business.

The Churchyard Working Party kept the flora and fauna under control and Mr Mike Toon saw to general maintenance items, for which we thank him. The cleaner deserves recognition for helping to keep the church open during throughout COVID restrictions and the extra cleaning this involved. The churchwardens have

worked very hard this year and have had a lot to cope with. Our Parish Administrator, Mrs Gillian Taylor, gave notice that she intended to retire in 2022 and the search to fill such big shoes will be a difficult one.

2021 saw the sad loss of Mrs Jean Clarke, Mrs Peggy Williams, Miss Pamela Coote, Miss Wendy Davis and Mr Spencer Layman. There was 1 baptism, 1 confirmation and the happy occasion of the wedding of Miss Emma Reid and Mr Andrew Cheasty.

Financial Review of the year ended 31 December 2021

General Funds

Income was £10,500.00 above budget, but £5,356.00 down on the previous year. Gift Aid was down by £2,244.00 and Stewardship by £7,000.00. The Open Collection was down by £1,400. Hall income was up by £4,000.00; the hall lets would be increasing again in 2022.

The curate’s house income for the year was £18,688.00. Rent would be increasing again next year. Expenditure was on budget at £176,143.00, but this was an increase of £26,110.00 on last year.

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PAROCHIAL CHURCH COUNCIL OF ST PAUL’S, MILL HILL

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, IT’S TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

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The Common Fund contribution (used to pay clergy stipends/pensions) was £75,000.00. This would be increased in 2022 to £80,000.00

Overall, there was a deficit of £11,078.00. This would be taken out of the Reserves fund. The amount in the Reserve fund was £64,700.00. The Budget for 2022 showed a deficit of £24,000.00.

Designated Funds

This money is designated for particular projects for administration purpose only. These funds are unrestricted and can be moved to other general funds if the PCC so decides.

Restricted Funds

These represent monies received for a specific purpose and which cannot be spent on anything other than the purpose for which they were provided.

Wilberforce Centre

Income for the Wilberforce Centre was £1,500.00.

Church Hall

Income from hall rents was £18,352.00, hall expenditure was £13,885.00.

Cost of Curate’s Housing

£25,690.00

Mission Giving

Church Mission Giving was £8,000.00, divided between the following charities: Open Door, GNS, A Rocha UK, Christian Aid, Scutts, Vulindlela Guardians, Scripture Union, Bible Society, and Homeless Action in Barnet.

2022 mission giving would be £5,000.00; the £6,000.00 which was allocated to the mission fund, could also be used.

In addition, the following donations were made: Tear Fund £1,520.00 – Christmas and Harvest collection Homeless Barnet £250.00 – Christmas collection St Pauls School Food Bank £430.00

During the year the PCC employed a Parish Administrator with costs of £12,486.00 including holiday pay and pension.

Transactions with members of the PCC

There were no transactions with members of the PCC in 2021

Transfer from Designated funds to General

From Reserves fund £11,078.0010

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PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

MEMBERS' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

MEMBERS' RESPONSIBILITIES STATEMENT

The Members are responsible for preparing the Members' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Members are required to:

The Members are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Members, on 31 March 2022 and signed on their behalf by:

................................................

Joanna James Member

Page 13

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 310ECEMBER 2021 INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL Ith8'charity') report to the charity Members on my examination of the accounts of the charty for the year ended 31 De¢embeT 2021. This report is made solely to the charit￿S Members, as a body, in accordance wrf(h Part 4 of the Charities {Accounl8 and Reports) Regulations 2008. My work has beon undertaken so that I might slate to the charitrfs Members those mallers l am required to slate to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permilled by law, I do not accept or assume responsibility lo anyone olher than the charity and the charills Members as a body, for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Members of the charity you are responsible for the preparation of the accounts in accordan￿ ￿th the requirements of the Charities Act 20111.lhe 2011 Acl'l. I report in respect of my examination of the charitys accounts carried out under section 145 of the 2011 Act and in carrw'ng out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151{b} of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Your atienlion 15 drawn lo the fact that the charity has prepared the 8ccounls in accordance with Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) in preference lo the Accounting and Reporting by Charities." Statement of Recommended PraGlice issued on 1 April 2005 which is referred lo in the exlanl regulations but has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accoréanc8 wlh the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I can confirm that no mallers have come to my allenlion in connection with the examination giving me cause lo beli8ve that in any material respect.. accounting records were not kept in respect of the charlty as required by section 130 of the 2011 Act- or the accounls do not accord with those records,. or the account8 do not comply wth the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requiremenl that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examinatso I have no CDncerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Signed: Dated- 26 April 2022 M S Atkinson FCA Page14

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
funds
Note
2021
£
INCOME FROM:
Planned giving
2
120,588
Collections
2
149
Gift days
2
2,600
Donations and appeals
2
4,001
Church activities
3
21,145
Other trading activities
4
152
Investments
5
20,794
Other income
135
TOTAL INCOME
169,564
EXPENDITURE ON:
Church activities
231,593
TOTAL EXPENDITURE
231,593
NET INCOME / (EXPENDITURE) BEFORE
INVESTMENT GAINS
(62,029)
Net gains on investments
10
11,044
NET INCOME / (EXPENDITURE) BEFORE
TRANSFERS
(50,985)
Transfers between Funds
13
(638)
NET INCOME / (EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS AND
LOSSES
(51,623)
NET MOVEMENT IN FUNDS
(51,623)
RECONCILIATION OF FUNDS:
Total funds brought forward
1,088,572
TOTAL FUNDS CARRIED FORWARD
1,036,949		 Restricted
funds
2021
£
-
-
-
10,084
-
-
-
-
10,084
34,680
34,680
(24,596)
-
(24,596)
638
(23,958)
(23,958)
105,845
81,887		 Total
funds
2021
£
120,588
149
2,600
14,085
21,145
152
20,794
135
179,648
266,273
266,273
(86,625)
11,044
(75,581)
-
(75,581)
(75,581)
1,194,417
1,118,836		 Total
funds
2020
£
129,856
1,544
400
14,198
16,298
1,014
21,194
1,293
185,797
153,052
153,052
32,745
6,419
39,164
-
39,164
39,164
1,155,253
1,194,417

The notes on pages 16 to 27 form part of these financial statements.

Page 1 5

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

BALANCE SHEET AS AT 31 DECEMBER 2021

Note
FIXED ASSETS
Tangible assets
9
Investments
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
12
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Restricted funds
13
Unrestricted funds
13
TOTAL FUNDS		 £
5,578
450,548
456,126
(56,550)		 2021
£
642,813
76,447
719,260
399,576
1,118,836
81,887
1,036,949
1,118,836		 £
5,053
476,188
481,241
(29,560)		 2020
£
649,729
93,007
742,736
451,681
1,194,417
105,845
1,088,572
1,194,417

The financial statements were approved by the Members on 31 March 2022 and signed on their behalf, by:

................................................

Joanna James

The notes on pages 16 to 27 form part of these financial statements.

Page 1 6

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

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 on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

Parochial Church Council of St Paul's Mill Hill constitutes a public benefit entity as defined by FRS 102.

The financial statements include transactions, assets and liabilities for which the PCC is responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.

Page 1 7

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES (CONTINUED)

1.2 Income

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

For legacies, entitlement is taken as the earlier of the date on which either: the charity 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 charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Members' Report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

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. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Page 1 8

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES (CONTINUED)

1.4 Tangible fixed assets and depreciation

All assets costing more than £1,000 are capitalised.

Consecrated and beneficed property is excluded from the financial statements by virtue 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 as inalienable property unless consecrated. They are listed in the Church’s inventory, which can be inspected (at any reasonable time). For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

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:

The freehold property relates to the Church Hall and Curate's House, which are held on behalf of the PCC for its own purposes, although at present the Curate’s House is rented on a temporary basis, and are valued as at 31 December 2000. No depreciation is charged against such properties because the PCC has reviewed the current value of these properties and concluded that their residual value is not materially different from the carrying amount of the asset. However, any expenditure on maintenance is written off as incurred.

1.5 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliabily in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.

1.6 Interest receivable

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

1.7 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.

Page 1 9

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES (CONTINUED)

1.8 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9 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 charity 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. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.10 Financial instruments

The charity 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.11 Pensions

The charity operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 31 December 2013.

The charity operates a defined benefits pension scheme. The scheme is a mult-employer scheme where it is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging to individual participating employers. Therefore, as required by FRS17 'Retirement benefits', the charity accounts for this scheme as if it was a defined contribution scheme. The amount charged to the Statement of Financial Activities represents contributions payable to the scheme in respect of the accounting period.

1.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Members in furtherance of the general objectives of the charity 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 charity 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.

Investment income, gains and losses are allocated to the appropriate fund.

Page 20

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. INCOME FROM DONATIONS AND LEGACIES

Unrestricted
funds
2021
£
Planned giving
120,588
Collections
149
Gift days
2,600
Donations and appeals
4,001
Total donations and legacies
127,338
Total 2020
135,998		 Restricted
funds
2021
£
-
-
-
10,084
10,084
10,000		 Total
funds
2021
£
120,588
149
2,600
14,085
137,422
145,998		 Total
funds
2020
£
129,856
1,544
400
14,198
145,998
3.
INCOME FROM CHURCH ACTIVITIES
Unrestricted
funds
2021
£
Fees for weddings and funerals
1,643
Church hall lettings
18,352
Magazine income
-
Wilberforce centre income
1,150
21,145
Total 2020
16,298		 Restricted
funds
2021
£
-
-
-
-
-
-		 Total
funds
2021
£
1,643
18,352
-
1,150
21,145
16,298		 Total
funds
2020
£
1,633
14,069
185
411
16,298

4. FUNDRAISING INCOME

Unrestricted
funds
2021
£
Fundraising
152
Total 2020
1,014		 Restricted
funds
2021
£
-
-		 Total
funds
2021
£
152
1,014		 Total
funds
2020
£
1,014

Page 21

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. INVESTMENT INCOME

Unrestricted
funds
2021
£
Rent - temporary let on curates house
18,688
Bank and CBF deposit fund interest
2,106
20,794
Total 2020
21,194		 Restricted
funds
2021
£
-
-
-
-		 Total
funds
2021
£
18,688
2,106
20,794
21,194		 Total
funds
2020
£
18,546
2,648
21,194

6. DIRECT COSTS

Missionary and charitable giving
Youth fund
Church running and maintenance
Diocesan parish share
Other ministry costs
Church hall running costs
Church hall repairs and maintenance
Wages and salaries
Pension cost
Depreciation
Total 2020
NET INCOME/(EXPENDITURE)
This is stated after charging:
Depreciation of tangible fixed assets:
- owned by the charity		 Church
activities
£
9,351
78
110,325
75,000
33,061
13,885
5,171
11,953
533
6,916
266,273
153,052		 Total
2021
£
9,351
78
110,325
75,000
33,061
13,885
5,171
11,953
533
6,916
266,273
153,052
2021
£
6,916		 Total
2020
£
10,000
240
24,672
72,500
18,107
11,612
2,562
11,674
467
1,218
153,052
2020
£
1,218

7. NET INCOME/(EXPENDITURE)

During the year, no Members received any remuneration (2020 - £NIL). During the year, no Members received any benefits in kind (2020 - £NIL). During the year, no Members received any reimbursement of expenses (2020 - £NIL).

Page 22

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

8. STAFF COSTS

Staff costs were as follows:

Wages and salaries
Other pension costs		 2021
£
11,953
533
12,486		 2020
£
11,674
467
12,141

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

2021 2020
No. No.
Administration 1 1

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

9. TANGIBLE FIXED ASSETS

Cost
At 1 January 2021 and 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Freehold
property
£
624,500
-
-
-
624,500
624,500		 Church
equipment
£
27,665
2,436
6,916
9,352
18,313
25,229		 Total
£
652,165
2,436
6,916
9,352
642,813
649,729

The gross book values of the freehold land and buildings are based on the deemed cost under FRS15 transitional provisions, under which the properties valuation as at 31 December 2000 has not been updated.

Page 23

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

10. FIXED ASSET INVESTMENTS

Market value
At 1 January 2021
Disposals
Revaluations
At 31 December 2021
Investments at market value comprise:
2021
£
CBF and Coif investments
76,447		 Listed
securities
£
93,007
(24,950)
8,390
76,447
2020
£
93,007

The holdings of investments at the year end were as follows:

Central Board of Finance of the Church of England Investment and Fixed Interest Units had a market value of £76,447 (2020 - £68,058).

Coif Charities Investment Fund accumulation shares had a market value of £nil (2020 - £24,949).

11. DEBTORS

11.
DEBTORS
Trade debtors
12.
CREDITORS: Amounts falling due within one year
Other creditors		 2021
£
5,578
2021
£
56,550		 2020
£
5,053
2020
£
29,560

Page 24

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

13. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Unrestricted funds
General Funds
Restricted funds
Churchyard
Youth
Middlesex Regiment
Other restricted funds
Total of funds
STATEMENT OF FUNDS -
General Funds
Restricted funds
Churchyard
Youth
Middlesex Regiment
Other restricted funds		 Balance at
1 January
2021
£
1,088,572
63,015
131
14,958
27,741
105,845
1,194,417
PRIOR YEAR
Balance at
1 January
2020
£
1,058,850
56,833
10,555
15,000
14,015
96,403		 Income Expenditure
£
£
169,564
(231,593)
-
-
-
-
-
-
10,084
(34,680)
10,084
(34,680)
179,648
(266,273)

Income
Expenditure
£
£
175,797
(152,294)
5,982
-
-
(10,424)
-
(42)
4,018
9,708
10,000
(758)		 Transfers
in/out
£
(638)
638
-
-
-
638
-
Transfers
in/out
£
(200)
200
-
-
-
200		 Gains/
(Losses)
£
11,044
-
-
-
-
-
11,044
Gains/
(Losses)
£
6,419
-
-
-
-
-		 Balance at
31
December
2021
£
1,036,949
63,653
131
14,958
3,145
81,887
1,118,836
Balance at
31
December
2020
£
1,088,572
63,015
131
14,958
27,741
105,845

In addition to the general fund, there are designated funds for church/hall repairs and staffing purposes. Smaller designated funds exist for churchyard maintenance, the upkeep of our curate's house in Shakespeare Road, fundraising and the choir.

The restricted funds relate to donations and legacies received, and funds raised, for specific purposes including maintaining and improving the Churchyard, Youth activities and the upkeep of the Middlesex Regiment war memorial and memorabilia.

Page 25

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

SUMMARY OF FUNDS - CURRENT YEAR

Balance at
1 January
2021
Income Expenditure
£
£
£
General funds
1,088,572
169,564
(231,593)
Restricted funds
105,845
10,084
(34,680)
1,194,417
179,648
(266,273)
SUMMARY OF FUNDS - PRIOR YEAR
Balance at
1 January
2020
Income
Expenditure
£
£
£
General funds
1,058,850
175,797
(152,294)
Restricted funds
96,403
10,000
(758)
1,155,253
185,797
(153,052)		 Transfers
in/out
£
(638)
638
-
Transfers
in/out
£
(200)
200
-		 Gains/
(Losses)
£
11,044
-
11,044
Gains/
(Losses)
£
6,419
-
6,419		 Balance at
31
December
2021
£
1,036,949
81,887
1,118,836
Balance at
31
December
2020
£
1,088,572
105,845
1,194,417

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted
funds
2021
£
Tangible fixed assets
642,813
Fixed asset investments
76,447
Current assets
374,239
Creditors due within one year
(56,550)
1,036,949		 Restricted
funds
2021
£
-
-
81,887
-
81,887		 Total
funds
2021
£
642,813
76,447
456,126
(56,550)
1,118,836

Page 26

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Unrestricted
funds
2020
£
Tangible fixed assets
649,729
Fixed asset investments
93,007
Current assets
375,396
Creditors due within one year
(29,560)
1,088,572		 Restricted
funds
2020
£
-
-
105,845
-
105,845		 Total
funds
2020
£
649,729
93,007
481,241
(29,560)
1,194,420

15. PENSION COMMITMENTS

St Paul's Church PCC (Mill Hill) 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:

  1. the Defined Benefits Scheme

  2. the Pension Builder Scheme, which has two subsections;

  3. a. a deferred annuity section known as Pension Builder Classic, and,

  4. b. 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.

Pension 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 Builder 2014 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.

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 (2021: £533, 2020: £467).

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 2019. The next valuation is due as at 31 December 2022.

Page 27

PAROCHIAL CHURCH COUNCIL OF ST PAUL'S MILL HILL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

15. PENSION COMMITMENTS (continued)

For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 3% following improvements in the funding position over 2021. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m 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 another employer fails, St Paul's Church PCC (Mill Hill) could become responsible for paying a share of the failed employer’s pension liabilities.

Page 28

BUDGET 2022

Budget 2022

Budget 2022
Actual 2021 Actual 2020 Budget 2022
Income
Stewardship (inc Tax recoverable) £ 129,855.00 £
 120,588.00 £ 115,000.00
Open Collection £ 1,544.00 £ 149.00 £ 150.00
Gift Sunday/Donations £ 4,363.00 £ 4,493.00 £ 5,500.00
Church Hall Rents £ 14,069.00 £ 18,352.00 £ 15,000.00
Shakespeare Road- Rent £ 18,546.00 £ 18,688.00 £ 18,850.00
PCC Fees £ 1,633.00 £ 1,645.00 £ 1,500.00
Wilberforce Centre £ 411.00 £ 1,150.00 £ 1,000.00
TOTAL INCOME £ 170,421.00 £
 165,065.00 £ 157,000.00
Expenditure
Mission and Outreach £ 10,000.00 £ 8,000.00 £ 5,000.00
Clergy Expenses £ 6,707.00 £ 7,280.00 £ 7,500.00
Church Hall Operating Cost £ 11,612.00 £ 13,885.00 £ 15,000.00
Church Operating Cost £ 19,962.00 £ 24,786.00 £ 25,500.00
Cost of Administrator £ 12,141.00 £ 12,486.00 £ 17,500.00
Administration £ 5,369.00 £ 5,430.00 £ 5,500.00
Shakespeare Road £ 542.00 £ 3,586.00 £ 1,000.00
Common Fund £ 72,500.00 £ 75,000.00 £ 80,000.00
Curate Housing £ 11,200.00 £ 25,690.00 £ 24,000.00
TOTAL EXPENDITURE £ 150,033.00 £
 176,143.00 £ 181,000.00

Page 29

_______________

PAROCHIAL CHURCH COUNCIL OF ST PAUL’S, MILL HILL

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, IT’S TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

_____________

REPORT ON FABRICS, GOODS AND ORNAMENTS OF ST PAUL’S CHURCH, CHURCHYARD AND CHURCH HALL

JANUARY to DECEMBER 2021

FABRIC

GOODS AND ORNAMENTS

WILBERFORCE CENTRE

CHURCHYARD

CHURCH HALL

PARISH OFFICE

VICARAGE

Page 30

___________

PAROCHIAL CHURCH COUNCIL OF ST PAUL’S, MILL HILL

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, IT’S TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

_________________

SHAKESPEARE ROAD

MIDDLESEX REGIMENT WAR MEMORIAL

John Lee and Jane Shelbourn, Church Wardens, February 2022

Page 31