**St James’s Church, New Barnet**
**Trustees’ Report and Financial Statements**
**for the year ending 31[st] December 2022**
St James's Church, New Barnet
Financial Report for 2022
## **Trustees Report**
## **Objectives and Activities**
In accordance with St James’s Church’s charity registration and our position as part of the Church of England, our key activities are providing regular public worship open to all and providing services to the community.
Our main goals for 2022 from our Mission Action Plan were:
- To improve our welcome and help newcomers belong
- To continue to be good stewards of finance and resources
- To consider what it means to be church post-covid
- To increase our influence in the community and seek new mission opportunities
- To invest in equipping leaders
- To continue to invest in our work with children, young people, and their families
- To draw more into the presence of God through all we are doing
- To be a place where prayer is a priority
In each area of ministry we think about how our actions help our relationships in three directions – up (how does this help us to grow in faith); in (how do we support each other) and out (how do we reach out to the community).
We will continue to develop our relationships with other local churches, especially our sister church Holy Trinity, Lyonsdown.
## **Achievements and Performance**
Our weekly services are Sunday morning and Wednesday morning. Both of these are also on Zoom, improving access for those who are unwell or housebound, etc. We held special services at Easter and Christmas, including a baptism on Easter Sunday. On Remembrance Sunday we took part in the service at New Barnet War Memorial, before our own morning service which included an act of remembrance.
Students Jenny Robinson and Uzor Mono were on placement at St James’s, and were ordained in July. Jenny is now our Curate. We have a Vocations Group for those who are exploring ministry, and Simon Vincent is continuing his Reader training.
In June we joined with other local churches to organise a Platinum Jubilee Celebration at Holy Trinity – a free event to which hundreds of people came. As well as food and activities, there was a short act of worship followed by a tree being planted by Martin Russell (Deputy Lieutenant for Barnet) as part of the Queen’s Green Canopy. Later in the year we opened St James’s when Queen Elizabeth II died to mark her life of service, and had a commemorative service the next Sunday.
We have employed a Family and Youth Worker since 2012. As well as Kidschurch during our Sunday morning service, we also run some weekday groups: Toddler Group, Our Place (toddler group for children with additional needs), Zone (school years 2-6) and Jim’s Youth Group for teenagers (replacing the teen Bible study). Our Family and Youth Worker Paul Robinson helped to organise some deanery-wide youth events.
We continue to be part of the Together in Barnet Night Shelter scheme. In winter 2021-2022 this involved making and delivering food, but in winter 2022-2023 we were again able to host guests overnight in church following the lifting of covid restrictions.
Jim’s Café, our Community Advice Centre, continued to grow. It is a place where anyone is welcome, offering friendship as well as a range of advice services, including help with filling in forms. Its work was recognised with an award at the 2022 London Faith and Belief Community Awards. We were part of the national warm spaces initiative, and also have a donation point for Chipping Barnet Foodbank. In December we held our annual Toy Sunday, when people brought toys for social services to pass on to children who would not get Christmas presents. We also started a project to turn the vicarage garden into a community garden.
We held a free Community Fun Day in the autumn, with hundreds of people enjoying a bouncy castle, games, stalls and hot dogs. Social events have included a games night and open mic night, plus a variety of women’s and men’s events (including barbecue, brunch, games night, walk, and bowls).
St James’s received a Bronze Eco Church Award from A Rocha UK, a Christian charity which works to equip Christians and churches to care for the environment. In October we held a brunch with guest speaker Chine McDonald, Director of think tank Theos, speaking on ‘God is not a white man: faith, race and social justice’.
We restarted our small group Bible studies (Life Groups), and these have been places to support one another, and grow as disciples. We also ran a Start Course (at Holy Trinity), a chance for anyone to ask questions about the Christian faith. A number of people came and we had some great discussions.
We took part in the Thy Kingdom Come prayer week, with prayer stations on Pentecost Sunday. Once a month we have a Saturday prayer meeting, and there is always prayer ministry available after services. The local ecumenical World Day of Prayer service was held at St James’s. We have two regular craft groups – Craft and Chat, and Knit and Natter. We held an art exhibition on the theme of creation, with art from the congregation and community.
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St James's Church, New Barnet
Financial Report for 2022
## **Financial Review**
## **Summary**
2022 was another challenging financial year for St James’s due to the continuing effects of Covid and KidzChoice nursery not paying the full amount of rent.
This has led to us having a deficit for the year of just over £10,000.
## **Income**
Our income in 2022 was £139,000, a reduction of £8,000 from 2021. This decrease was largely due a couple of one off large pieces of income in 2021 including grants.
In 2022 we purchased a contactless card machine for people to use to make card payments to St James’s. This has been particularly helpful for receiving donations and youth group subs.
Here is a breakdown of our 2022 income:
**----- Start of picture text -----**
Youth groups,
church shop &
other income,
Rental £4,118
income &
room hire,
£44,661
Income from
grants, £3,029
Congregational
Gift day, £16,138
giving & sundry
donations, £70,808
**----- End of picture text -----**
## **Expenditure**
Our expenditure in 2022 was £149,000. This was an increase of £23,000. This was largely due to taking on a paid Jim’s Manager, the significant increase in utility costs, and higher costs because 2021 included some periods of lockdown or low activity due to Covid.
As in most years, a significant part of our expenditure was the parish share (our contribution to the Diocese of St Albans, which in turn pays Rev Canon Laura’s stipend and supports the church in many other ways). We always feel it is important to pay our parish share in full.
## **Cash**
As always, we aim to maintain a healthy cash balance throughout the year to make sure we are able to deal with any unexpected dips in income. We were able to maintain this for 2022 and 2021.
## **Reserves Policy**
The free reserves are the total funds available to the PCC, excluding funds tied up in our rental property in Victoria Road and funds designated to be used on specific items.
It is the PCC’s policy to:
- keep three months' running costs (approximately £35,000) in free reserves to cover essential expenditure in the event of loss of income
- save up funds in a 'salaries and major projects reserve' to cover unexpected fabric repairs and other large projects and to ensure salaries can be paid during a low patch
Our free reserves are currently at around the target of £35,000 (at 31 December 2021 they stood at £45,000). We have raised the free reserves target from £30,000 to £35,000 to reflect the increased cost of living and inflation from recent years. We have also been able to designate £20,000 to the salaries and major projects reserve, £4,775 to the
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St James's Church, New Barnet
Financial Report for 2022
charitable giving reserve and £2,000 to a new music and PA reserve, on top of the free reserves.
## **Structure, Governance and Management**
St James’s Parochial Church Council (PCC) is a corporate body established by the Church of England and operating under the Parochial Church Council Powers Measure.
It is registered as a charity in England as “The parochial church council of the ecclesiastical parish of St James New Barnet”, also known as “St James PCC, New Barnet”. Its registered charity number is 1150299.
Individuals become members of the PCC (in accordance with the Church Representation Rules):
- by virtue of their office within the church (vicar and churchwardens)
- by membership of certain other ecclesiastical bodies (e.g. Barnet Deanery Synod)
- by direct election by members of the church (those on the Church Electoral Roll)
On appointment or election to the PCC, all members automatically become trustees of the charity.
As well as constituting the charity trustees, the PCC is the overall management committee of the church. It has the following sub-committees:
- Standing Committee – empowered to take urgent decisions between normal PCC meetings
- Ministry Leaders Team – works with the vicar to ensure that the spiritual life of the church is continually developing
- Fabric Team – deals with practical matters, including maintenance of the church building and other churchowned premises
- Finance Team – aims to establish and maintain best practice in all aspects of financial management
- Home and Overseas Mission Team – provides support for, and education about, Christian mission beyond St James’s
The following served as trustees (and as members of the PCC) in the period from the start of the reporting period (1 Jan 2022) to the date of the 2023 Annual Parochial Church Meeting (21 May 2023).
Rev Canon Laura Hewitt (vicar and chair) Rev Jenny Robinson (curate, from July 2022) Carol Connah (churchwarden & lay vice chair) Luke Cowles (churchwarden) Mark Chapman (deanery synod rep from APCM 2022) Rosemary Leaver (deanery synod rep)
Alice Femi-Pearse Zoe Jones (treasurer) Alun Matthews Uzor Monu (until APCM 2022) Keisha Murdock Simon Perera Paul Robinson Jackie Seiwaa (until APCM 2022) Ros Thompson (secretary)
## **Reference and Administrative Details**
**Registered Office** : St. James's Church, 71 East Barnet Road, New Barnet, EN4 8RN
**Bankers** : Barclays Bank PLC, 1250 High Road, Whetstone, London, N20 OPB
**Independent Examiner** : Mr D Watson ACIB, 24 Ventnor Drive, Totteridge, London, N20 8BP
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St James's Church, New Barnet
Financial Report for 2022
## **Financial Statements**
## **STATEMENT OF FINANCIAL ACTIVITIES**
|note
**INCOME**
Donations and grants
Charitable Activities
Trading Activities
Other Income
**Total INCOME**
**EXPENDITURE**
Charitable Giving
Service Costs
Church Ministry
Employee Costs
2,7
Fabric
Administration
Fundraising Costs
**Total EXPENDITURE**
**NET RESOURCES**
**TRANSFERS BETWEEN FUNDS**
**NET MOVEMENT IN FUNDS**
**BALANCES BROUGHT FORWARD**
**BALANCES CARRIED FORWARD**|2022
Restricted
£
5,858
-
-
-
5,858
1,402
55
1,059
3,508
1,773
-
-
7,797
(1,939)
-
(1,939)
5,293
3,354|2022
Unrestricted
£
84,117
3,889
44,661
229
132,896
1,975
3,669
74,682
36,693
13,812
4,747
5,439
141,017
(8,121)
-
(8,121)
230,299
222,178|2022 Total
£
89,975
3,889
44,661
229
138,754
3,377
3,724
75,741
40,201
15,585
4,747
5,439
148,814
(10,060)
-
(10,060)
235,592
225,532|2021
£
93,520
1,384
42,205
9,302|
|---|---|---|---|---|
|||||146,411|
|||||2,850
1,682
71,371
32,163
11,880
4,791
1,089|
|||||125,826|
|||||20,585
-|
|||||20,585
215,007|
|||||235,592|
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St James's Church, New Barnet
Financial Report for 2022
|**BALANCE SHEET**
**ASSETS**
note
Fixed Assets
Buildings - 159 Victoria Road
3
**_Totals_**
Current Assets
Cash at bank
Cash in hand
Stock
Debtors - trade
Debtors - other
Debtors - Gift Aid tax claim
**_Totals_**
Less Creditors
Trade creditors
Other creditors
Deferred income
**_Totals_**
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**
note
Restricted Funds
4
Hardship fund
Jim’s fund
Youth work fund
Other restricted funds
**_Totals_**
Designated Funds
5
Charitable giving
Youth work designated
Music & PA reserve
Buildings reserve
Salaries & major projects
**_Totals_**
Other Funds
5
Free reserves
**_Totals_**
**FUNDS TOTALS**|2022
£
160,000
160,000
49,334
449
1,400
8,450
8,194
13,490
81,317
(201)
(15,584)
-
(15,785)
65,532
225,532
2022
£
476
882
857
1,139
3,354
4,775
-
2,000
160,000
20,000
186,775
35,403
35,403
225,532|2021
£
160,000|
|---|---|---|
|||160,000|
|||64,028
468
1,400
6,130
3,900
10,822|
|||86,748|
|||(152)
(10,824)
(180)|
|||(11,156)|
|||75,592|
|||235,592|
|||2021
£
835
3,112
613
733|
|||5,293|
|||4,750
1,000
-
160,000
20,000|
|||185,750|
|||44,549|
|||44,549|
|||235,592|
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St James's Church, New Barnet
Financial Report for 2022
|**INCOME**
2022
note
£
Donations and grants
General giving
54,304
Tax recovered on general giving
12,598
Gift Day income
13,138
Tax recovered on Gift Day
3,000
Grants
3,029
Other donations
1,697
Tax recovered on restricted donations
162
Collections for other charities
1,155
Church event donations
892
**_Totals_**
89,975
Charitable Activities
Youth & children event subs
1,954
Wedding & funeral fees
860
Church shop income
1,075
**_Totals_**
3,889
Trading Activities
Nursery rental
26,000
159 Victoria Road rent
18,000
Church room hire
630
Other sales income
31
**_Totals_**
44,661
Other Income
Interest etc received
58
Compensation received
171
**_Totals_**
229
**INCOME TOTALS**
138,754|2021
£
53,871
11,732
12,275
2,425
10,250
1,361
137
961
508|
|---|---|
||93,520|
||673
299
412|
||1,384|
||24,000
18,000
60
145|
||42,205|
||5
9,297|
||9,302|
||146,411|
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St James's Church, New Barnet
Financial Report for 2022
|**EXPENDITURE**
2022
note
£
Charitable Giving
Church charitable giving
1,975
Other charities collections
773
Hardship fund payments
629
**_Totals_**
3,377
Service Costs
Service costs
1,319
Refreshments
1,143
PA & music
1,262
**_Totals_**
3,724
Church Ministry
Parish Share
69,766
Discipleship events and groups
403
Youth groups and events
987
Community projects including Jim's
765
Outreach events
682
Hospitality
394
Vicar's expenses
635
Conferences & training
59
Publicity
90
Gifts to church members
983
Cost of shop goods
977
**_Totals_**
75,741
Employee Costs
2,7
Salaries
39,222
Pensions and National Insurance
979
**_Totals_**
40,201
Fabric
Repairs & maintenance
665
Health & safety & security
1,230
Church cleaning
142
Church insurance
2,693
Energy and water
10,855
**_Totals_**
15,585
Administration
Photocopier expenses
1,806
IT & software
767
Other office costs
1,419
Bank fees etc
465
Miscellaneous expenses
290
**_Totals_**
4,747
Fundraising Costs
159 Victoria Road insurance & maintenance
939
Bad debt expense
4,500
**_Totals_**
5,439
**EXPENDITURE TOTALS**
148,814
**SURPLUS / (DEFICIT)**
(10,060)|2021
£
1,400
830
620|
|---|---|
||2,850|
||556
179
947|
||1,682|
||68,199
78
380
702
760
119
65
64
-
666
338|
||71,371|
||31,260
903|
||32,163|
||1,195
1,080
1,362
2,554
5,689|
||11,880|
||1,704
1,393
1,034
397
263|
||4,791|
||1,089
-|
||1,089|
||125,826|
||20,585|
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St James's Church, New Barnet
Financial Report for 2022
## **Notes to the Accounts**
## **1. Accounting Policies**
## a) Basis of Accounting
The accounts have been prepared under the historical cost convention, and 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; the Financial reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102); the Charities Act 2011; and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity constitutes a public benefit entity as defined by FRS102.
## b) Recognition of income
Income is included in the Statement of Financial Activities when the charity becomes entitled to the resources, it is more likely than not that the charity will receive the resources and the monetary value can be measured with sufficient reliability.
## c) Incoming resources
Donations and grants are included in the accounts when the general income criteria are met. When donors specify they are to be used for a future accounting period they are treated as deferred income. Contributions, fees and tax recoverable from the Inland Revenue under the Gift Aid scheme are recognised on an accruals basis when there is a valid declaration from the donor.
## d) Resources Expended
Expenditure is accounted for on an accruals basis, inclusive of VAT, which cannot be recovered.
## e) Capitalisation and Depreciation
All fixed assets are initially recorded at cost.
Tangible fixed assets costing more than £1,500 are capitalised in the accounts.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office Equipment – computers 50% straight line, other equipment 25% straight line.
Property – the property is not depreciated as the PCC believes the current market value of the property is significantly higher than the valuation in the accounts.
## f) Stocks
Stocks held for resale are measured at the lower of cost or net realisable value.
## g) Pensions
St. James's PCC contributes to a defined contribution pension scheme on behalf of employees, the cost of which is disclosed in the detailed income and expenditure account.
## h) Funds accounting
Funds held by the charity are:
- Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- Unrestricted designated funds – these are funds which the PCC has designated for specific purposes, as set out in note 5.
- Restricted funds – these are funds which can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The nature and purpose of each fund is explained further in the notes to the accounts.
## **2. Staff Costs**
- a) Employment costs are as specified in the detailed income and expenditure.
- b) 5 people were employed by the charity during the year of which 4 were part-time and the other was full-time (2021 – 3 people of which 2 were part-time and the other was full time).
- c) No employee earned more than £60,000 during the year (2021 – nil).
## **3. Fixed Assets**
The only fixed asset is an investment property in Victoria Road. No depreciation has been applied to this property because the PCC believes the current market value of the property is significantly higher than the current valuation. This valuation was made several years ago.
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St James's Church, New Barnet
Financial Report for 2022
## **4. Restricted Funds**
|**tricted Funds**||||||
|---|---|---|---|---|---|
|Youth & Children’s
work fund
Special collections
Jim’s café fund
Hardship fund
Other|**1 Jan 2022**
£
613
681
3,112
835
52
**5,293**|
**Income**
£
630
1,155
2,194
270
1,609
**5,858**|**Expenditure**
£
386
773
4,425
629
1,584
**7,797**|
**Transfers**
**between funds**
£
-
-
-
-
-
**-**|**31 Dec 2022**
£
857
1,063
881
476
77|
||||||
**3,354**|
The youth and children’s work fund consists of grants and donations given to pay for the youth and children’s work at St James's. This fund contains some donations to be used for any costs relating to youth and children's work and some for specific elements of youth and children’s work.
The special collections fund consists of special collections the church ran for other charities or mission activities. These funds can only be spent on the purpose each collection was advertised as being for.
The Jim's café fund consists of donations for the costs of the social action café run by St James's called Jim's café.
The hardship fund consists of donations to be given to members of the congregation, Jim’s clients, or others known to the church, who are in particular financial hardship or have a particular financial crisis.
The other restricted fund is for other small donations given for specific causes such as the Homeless Night Shelter which St James's participates in or utility costs.
## **5. Unrestricted Funds**
|Free reserves
Designated
charitable fund
Designated
youth
fund
Designated music &
PA fund
Designated salaries
and major projects
fund
Designated building
reserve|**1 Jan 2022**
£
44,549
4,750
1,000
-
20,000
160,000
**230,299**|
**Income**
£
132,896
-
-
-
-
-
**132,896**|**Expenditure**
£
139,042
1,975
-
-
-
-
**141,017**|
**Transfers**
**between funds**
£
(3,000)
2,000
(1,000)
2,000
-
-
**-**|**31 Dec 2022**
£
35,403
4,775
-
2,000
20,000
160,000|
|---|---|---|---|---|---|
||||||
**222,178**|
The designated charitable fund is reserves which the PCC has decided to donate to other charities as charitable giving.
The designated youth work fund is reserves designated by the PCC to either a youth work trip or general youth work.
The designated music & PA fund is to support enhancements to the sound system, music and AV systems.
The designated salaries and major projects fund is to support key areas of mission, including salaries and maintenance projects, during a period of growth in Jim’s and anticipated financial hardship in the country.
The designated buildings reserve is the total of the charity’s reserves which are tied up in the church’s property in Victoria Road. Therefore, these reserves can’t be spent unless the property is sold.
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St James's Church, New Barnet
Financial Report for 2022
## **6. Analysis of Net Assets (between restricted and unrestricted funds)**
|Restricted
Unrestricted:
Free reserves
Designated fund – buildings reserve
Designated fund – charitable giving reserve
Designated fund – music & PA fund
Designated fund – salaries and major
projects|**Tangible fixed**
**assets**
£
-
-
160,000
-
-
-
**160,000**|**Other net**
**assets**
£
3,354
35,403
-
4,775
2,000
20,000
**65,532**|**Total**
£
3,354
35,403
160,000
4,775
2,000
20,000|
|---|---|---|---|
||||**225,532**|
## **7. Transactions with Trustees and Related parties**
**Trustees’ Remuneration & Benefits:** None of the trustees have been paid any remuneration or received any other benefits from being employed as a trustee with the charity or a related entity. One trustee, Paul Robinson, received a salary from St James’s for his job as Family & Youth Worker for St James’s. In 2022 this salary was £22,458 with employer pension contributions of £803 (2021: salary of £20,706 with employer pension contributions of £723). Paul Robinson received no remuneration for being a trustee. Paul Robinson also excuses himself from any discussions or votes relating to salaries or employment policies at PCC meetings.
**Trustees’ Expenses:** The Rev Canon Laura Hewitt was paid expenses of £635 (2021 - £65) for training, travel and accommodation. Trustee and employee Paul Robinson was paid expenses of £10 (2021 - £nil) for training. These expenses were all wholly related to their duties as Vicar and Family & Youth Worker of St James’s Church.
**Transactions with Related Parties:** The PCC is not aware of any other related party transactions in 2022 or 2021.
## **8. Fees for Examination of the Accounts**
The fee for the Independent Examiner has not yet been finalised for the examination of the 2022 accounts but an accrual of £250 has been set up for this fee (2021 – £250).
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St James's Church, New Barnet
Financial Report for 2022
## **Independent Examiner’s Report**
## **Report to the Parochial Church Council of the Ecclesiastical Parish of St James New Barnet. Charity Number 1150299**
I report to the trustees on my examination of the accounts of the above charity (“the PCC”) for the year ended 31 December 2022, set out on pages 5 to 11.
## **Responsibilities and Basis of Report**
As the charity's trustees, you, are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the PCC’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination.
I confirm that no 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 Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
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