DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
MB/AB/res
5[th] June 2024
Private & Confidential
Fr. Bruce Batstone Hornsey Parish Church 140 Cranley Gardens London N10 3AH
Dear Fr. Bruce,
Re: St. Mary with St. George, Hornsey, Parochial Church Council
I enclose the following for your attention.
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One copy of the Dec 23 accounts.
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Letter of representation.
If all is in order, please sign where indicated and return the signed accounts together with the approved letter of representation. We will then sign the Independent Examiners report and return a set of the fully signed accounts to you for submission to the charities commission. These will be in electronic format.
Finally, we enclose a note of our charges in this regard for your kind attention.
I hope that this is clear, but please do not hesitate to contact either Alan or myself if you require any further assistance.
Finally, we enclose a note of our charges in this regard for your kind attention.
Kind regards
Yours sincerely,
Marc Bennett Encl
DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
Charity registration number 1157748
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
INDEPENDENT EXAMINER'S REPORT
TO THE MEMBERS OF ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
I report to the Members on my examination of the financial statements of St. Mary with St. George, Hornsey, Parochial Church Council (the charity) for the year ended 31 December 2023.
Responsibilities and basis of report
As the Members of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) 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 now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with 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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Marc Bennett Independent Examiner 2nd Floor 201 Haverstock Hill Belsize Park London NW3 4QG United Kingdom 10 June 2024 | 11:41 PM PDT Dated: .........................
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Current financial year Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 3 53,489 16,500 Charitable activities 4 131,563 3,115 Investments 5 1,259 3,567 Total income 186,311 23,182 Expenditure on: Raising funds 6 1,588 - Charitable activities 7 202,932 22,020 Total expenditure 204,520 22,020 Net gains/(losses) on investments 11 - 11,113 Net income/(expenditure) and movement in funds (18,209) 12,275 Reconciliation of funds: Fund balances at 1 January 2023 162,594 267,815 Fund balances at 31 December 2023 144,385 280,090 |
Total 2023 £ 69,989 134,678 4,826 209,493 1,588 224,952 226,540 11,113 (5,934) 430,409 424,475 |
Total 2022 £ 151,624 108,239 4,563 264,426 5,035 226,622 231,657 (16,333) 16,436 413,973 430,409 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Prior financial year Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations and legacies 3 136,624 15,000 Charitable activities 4 104,819 3,420 Investments 5 191 4,372 Total income 241,634 22,792 Expenditure on: Raising funds 6 4,177 858 Charitable activities 7 208,117 18,505 Total expenditure 212,294 19,363 Net losses on investments 11 - (16,333) Net income/(expenditure) and movement in funds 29,340 (12,904) Reconciliation of funds: Fund balances at 1 January 2022 133,254 280,719 Fund balances at 31 December 2022 162,594 267,815 |
Total 2022 £ 151,624 108,239 4,563 264,426 5,035 226,622 231,657 (16,333) 16,436 413,973 430,409 |
|---|---|
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
BALANCE SHEET
AS AT 31 DECEMBER 2023
| Notes Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Income funds Restricted funds 17 Unrestricted funds Designated funds 18 General unrestricted funds |
2023 £ 8,971 197,597 206,568 (17,735) 53,383 91,002 |
£ 107,433 128,209 235,642 188,833 424,475 280,090 144,385 424,475 |
2022 £ 97,253 146,579 243,832 (39,819) 60,117 102,477 |
£ 109,300 117,096 |
|---|---|---|---|---|
| 226,396 204,013 |
||||
| 430,409 | ||||
| 267,815 162,594 |
||||
| 430,409 |
10 June 2024 | 8:56 AM BST The financial statements were approved by the Members on .........................
..............................
Fr. B. Batstone - Chairman
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
Charity information
St. Mary with St. George, Hornsey, Parochial Church Council is a religious charity governed by the provisions of the Parochial Church Councils (Powers) Measure 1956 and by the Church Representation Rules..
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Members have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Members continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Members in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 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. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to that category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the obligation can be measured reliably. it is categorised under the following headings:
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Costs of raising funds only applicable where there is a special appeal
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Expenditure on charitable activities includes the running of the church and church hall; and
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Other expenditure represents those items not falling into the categories above.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. It is not the practice of the the charity to award grants that are conditional on performance.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings 5% Straight Line Fixtures and fittings 20% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
(Continued)
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Restricted funds funds 2023 2023 £ £ Donations and gifts 53,489 - Legacies receivable - - Performance related grants - 16,500 53,489 16,500 Donations and gifts Standing orders and envelopes 35,259 - Donations and appeals 18,230 - 53,489 - Legacies receivable Richard Hudson - - - - Grants receivable for core activities St. Mary's C.E School (Greig Trust) - 16,500 Friendly Hand - - - 16,500 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 53,489 66,617 - - 70,007 - 16,500 - 15,000 69,989 136,624 15,000 35,259 36,254 - 18,230 30,363 - 53,489 66,617 - - 70,007 - - 70,007 - 16,500 - 14,000 - - 1,000 16,500 - 15,000 |
Total 2022 £ 66,617 70,007 15,000 |
|---|---|---|
| 151,624 | ||
| 36,254 30,363 |
||
| 66,617 | ||
| 70,007 | ||
| 70,007 | ||
| 14,000 1,000 |
||
| 15,000 |
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
| 4 Income from charitable activities Unrestricted Restricted funds funds 2023 2023 £ £ Sale of goods - - Charitable rental income 1,094 - Other income 130,469 3,115 131,563 3,115 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ - - - 1,094 17,769 - 133,584 87,050 3,420 134,678 104,819 3,420 |
Total 2022 £ - 17,769 90,470 |
|---|---|---|
| 108,239 |
5 Investments
| 6 | Unrestricted Restricted funds funds £ £ C.B.F. Income Shares - 3,505 Interest receivable 1,259 62 1,259 3,567 For the year ended 31 December 2022 191 4,372 Raising funds Unrestricted Restricted funds funds £ £ Fundraising and publicity Staging fundraising events 1,588 - 1,588 - For the year ended 31 December 2022 Fundraising and publicity 4,177 858 |
Total 2023 £ 3,505 1,321 4,826 Total 2023 £ 1,588 1,588 |
Total 2022 £ 4,371 192 |
|---|---|---|---|
| 4,563 | |||
| 4,563 | |||
| Total 2022 £ 5,035 |
|||
| 5,035 | |||
| 5,035 |
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
7 Expenditure on charitable activities
| Charitable | Charitable | ||
|---|---|---|---|
| Expenditure | Expenditure | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 17,757 | 19,312 | |
| Depreciation and impairment | 1,868 | 2,011 | |
| Charitable expenditure | 203,815 | 203,859 | |
| 223,440 | 225,182 | ||
| Share of support and governance costs (see note ) | |||
| Governance | 1,512 | 1,440 | |
| 224,952 | 226,622 | ||
| Analysis by fund | |||
| Unrestricted funds | 202,932 | 208,117 | |
| Restricted funds | 22,020 | 18,505 | |
| 224,952 | 226,622 | ||
| 8 | Net movement in funds | 2023 | 2022 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Depreciation of owned tangible fixed assets | 1,868 | 2,011 |
9 Members
None of the Members (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries |
2023 Number 4 2023 £ 17,757 |
2022 Number 4 |
|---|---|---|
| 2022 £ 19,312 |
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
10 Employees
(Continued)
During the year the Parochial Church Council (PCC) employed a lay worker, a church hall manager, a bookkeeper and a cleaner: none of whom were paid £60,000 a year or more. No member of the PCC has received emoluments or has been reimbursed expenses for services as a member of the PCC.
There were no employees whose annual remuneration was more than £60,000.
11 Gains and losses on investments
| Restricted | Restricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | 11,113 | (16,333) |
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
13 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Leasehold land and buildings Fixtures and fittings £ £ Cost At 1 January 2023 136,092 5,738 At 31 December 2023 136,092 5,738 Depreciation and impairment At 1 January 2023 29,643 2,886 Depreciation charged in the year 1,298 570 At 31 December 2023 30,941 3,456 Carrying amount At 31 December 2023 105,151 2,282 At 31 December 2022 106,449 2,851 |
Total £ 141,830 |
| 141,830 | |
| 32,529 1,868 |
|
| 34,397 | |
| 107,433 | |
| 109,300 |
14 Fixed asset investments
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| 14 | Fixed asset investments | (Continued) |
|---|---|---|
| Listed | ||
| investments | ||
| £ | ||
| Cost or valuation | ||
| At 1 January 2023 | 117,096 | |
| Valuation changes | 11,113 | |
| At 31 December 2023 | 128,209 | |
| Carrying amount | ||
| At 31 December 2023 | 128,209 | |
| At 31 December 2022 | 117,096 |
| 15 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 16 Creditors: amounts falling due within one year Payments received on account Trade creditors Other creditors Accruals and deferred income |
2023 £ 3,499 5,142 330 8,971 2023 £ 11,000 918 501 5,316 17,735 |
2022 £ 80,662 14,946 1,645 |
|---|---|---|
| 97,253 | ||
| 2022 £ 9,333 2,891 1,506 26,089 |
||
| 39,819 |
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
17 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Gains and | Balance at 31 | |
| January | resources | expended | losses | December | |
| 2023 | 2023 | ||||
| £ | £ | £ | £ | £ | |
| Catechist Funds | 254,235 | 3,567 | (1,298) | 11,113 | 267,617 |
| Field Property | 19 | - | - | - | 19 |
| The Rev. Geoffrey Seabrook | |||||
| Memorial Fund | 1,606 | - | (1,606) | - | - |
| Friendly Hand - Angel Fund | 4,059 | - | - | - | 4,059 |
| Urban Quiet | 2,145 | 3,115 | (2,930) | - | 2,330 |
| Hornsey Parochial Charities | 4,973 | - | - | - | 4,973 |
| Greig Trust (St. Mary's C.E. School) | 778 | 16,500 | (16,186) | - | 1,092 |
| 267,815 | 23,182 | (22,020) | 11,113 | 280,090 |
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a. Hornsey Parish Catechist Funds are held in connection with the Church of England (registered charity No 260693) and were amalgamated with the Parish Hall Charity under a Schedule of the Commissioners dated 8th August 1986 and comprises funds from the sale of St. Mary's Church Hall. The capital is permanently endowed to provide land and buildings for the use of the Church of St. Mary with St. George in the Parish of Hornsey, and currently consists of the curate's flat and shares in the Central Board of Finance. The income is to be used for general purposes. The London Diocese Fund is the custodian trustee. The members of the PCC are the managing trustees.
-
a. The Church Field Ecclesiastical Charity (registered charity no 260694) is governed by a scheme dated 5[th] June 1953. The capital is permanently endowed and the income is to be used to maintain and repair the fabric of the church. The members of the PCC are the managing trustees.
-
a. Friendly Hand have provided funds for Christian Youth Activities. Funds given in previous years remain in the Angel Fund.
-
a. Urban Quiet consists of funds raised through remuneration to the current incumbent for teaching and training duties undertaken. Income is to be used for clergy training and development and for the support of retreats and spiritual direction for members of the congregation.
-
a. Hornsey Parochial Charities have provided funds in order to help the acquisition of an electric piano for the Kindle choir.
-
a. The Greig Trust, via St. Mary's C.E School provides a grant to support the salary costs of the parish's Lay Schools Worker.
-
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 Church Development Fund General funds Previous year: At 1 General funds |
January 2023 Incoming resources Resources expended At 31 December 2023 £ £ £ £ 60,117 - (6,734) 53,383 102,477 186,311 (197,786) 91,002 162,594 186,311 (204,520) 144,385 January 2022 Incoming resources Resources expended At 31 December 2022 £ £ £ £ 63,390 - (3,273) 60,117 69,864 241,634 (209,021) 102,477 133,254 241,634 (212,294) 162,594 |
January 2023 Incoming resources Resources expended At 31 December 2023 £ £ £ £ 60,117 - (6,734) 53,383 102,477 186,311 (197,786) 91,002 162,594 186,311 (204,520) 144,385 January 2022 Incoming resources Resources expended At 31 December 2022 £ £ £ £ 63,390 - (3,273) 60,117 69,864 241,634 (209,021) 102,477 133,254 241,634 (212,294) 162,594 |
|---|---|---|
| 162,594 |
In 2016 St. Mary with St. George Hornsey Parochial Church Council (PCC) was left 1/6th of the Estate of the late Mr. John Tibbit which amounted to £262,960.The PCC has agreed that this should be a designated fund, split as follows;-
- a) £10,000 to be used as an ongoing memorial to John Tibbit and his ministry and b) The balance to be designated as a Parish Development Fund, for the development of the ministry and when approved by the PCC, for future maintenance of the ministry development.
In 2017 work commenced on a development project, Hornsey 60/60, and the PCC agreed to use money from the John Tibbitt Legacy to fund initial works, up to and including a planning application.
19 Analysis of net assets between funds
| Unrestricted Restricted funds funds 2023 2023 £ £ At 31 December 2023: Tangible assets - 107,433 Investments - 128,209 Current assets/(liabilities) 144,385 44,448 144,385 280,090 |
Total 2023 £ 107,433 128,209 188,833 |
|---|---|
| 424,475 |
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DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
ST. MARY WITH ST. GEORGE, HORNSEY, PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
| 19 | Analysis of net assets between funds | (Continued) | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | |||
| 2022 | 2022 | 2022 | ||
| £ | £ | £ | ||
| At 31 December 2022: | ||||
| Tangible assets | - | 109,300 | 109,300 | |
| Investments | - | 117,096 | 117,096 | |
| Current assets/(liabilities) | 162,594 | 41,419 | 204,013 | |
| 162,594 | 267,815 | 430,409 |
20 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
- 15 -
DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
1
St Mary with St. George, Hornsey, Parochial Church Council Hornsey Parish Church Cranley Gardens London N10 3AH
Charity Registration Number: 1157748
AEL Markhams Ltd 201 Haverstock Hill Belsize Park London NW3 4QG
10/6/24 Date:
Dear Sirs,
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
We confirm to the best of our knowledge and belief and having made appropriate enquiries of other officials of the Charity, the following representations given to you in connection with your independent examination of the Charity’s financial statements for the year ended 31 December 2023.
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We acknowledge as trustees our responsibility for making accurate representations to you and for the financial statements which you have prepared for the Charity. All the accounting records have been made available to you for the purpose of preparing the accounts and all transactions undertaken by the Charity have been properly reflected and recorded in the accounting records as supplied to you by us. All other records and related information, including, minutes of all trustees’ meetings, have been made available to you.
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We confirm that, in determining how amounts are presented within items in the Statement of Financial Activities and Balance Sheet, we have had regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles or practice.
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In so far as we are aware, there is no relevant information for the independent examination (information needed by you as the Charity’s independent examiners in connection with preparing your report) of which you are unaware. Each trustee has taken all the steps that she ought to have taken as a trustee in order to make themselves aware of any relevant information for independent examination and to establish that you are aware of that information.
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The Charity has at no time during the year made any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit transactions) for a trustee, nor had to guarantee or provide security for such matters, except as disclosed in the financial statements.
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There has been no event since the balance sheet date which requires disclosing or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
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The Charity has no liabilities or contingent liabilities other than those disclosed in the accounts.
DocuSign Envelope ID: A556B1C8-E0D9-42E8-80A2-50A561EBA37A
2
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We confirm that we have disclosed to you all related party transactions relevant to the Charity, and that we are not aware of any further related party matters that require disclosure.
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The Charity has not contracted for any capital expenditure other than as disclosed in the accounts.
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We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the Charity conducts its business, namely the Charities Act 2011, except as explained to you and as disclosed in the accounts.
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We confirm the Charity has adequate resources to continue for foreseeable future. We confirm that, in our opinion, the Charity is a going concern and do not anticipate any change in this status in the next 12 months.
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We confirm that there were no charitable or other financial commitments as at 31[st] December 2023.
We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the above representations to you.
Yours faithfully,
.................................................... Fr. Bruce Batstone Approved by the Trustees and signed on their behalf. Registered in England Charity No. 1157748
Certificate Of Completion
Envelope Id: A556B1C8E0D942E880A250A561EBA37A Subject: St Mary with St George, Hornsey PCC - Accounts YE 31.12.23 Source Envelope: Document Pages: 19 Signatures: 3 Certificate Pages: 5 Initials: 0 AutoNav: Enabled EnvelopeId Stamping: Enabled Time Zone: (UTC) Dublin, Edinburgh, Lisbon, London
Status: Completed
Envelope Originator: Rachel Speid 201 Haverstock Hill London, NW3 4QG rachelspeid@aelmarkhams.co.uk IP Address: 217.138.88.178
Record Tracking
Status: Original Holder: Rachel Speid Location: DocuSign 6/7/2024 3:35:29 PM rachelspeid@aelmarkhams.co.uk
Signer Events Signature Timestamp Father Bruce Batstone Sent: 6/7/2024 3:44:53 PM fr.bruce@hornseyparishchurch.org Viewed: 6/8/2024 9:55:08 AM Security Level: Email, Account Authentication Signed: 6/10/2024 8:56:26 AM (None) Signature Adoption: Pre-selected Style Using IP Address: 86.191.126.144 Electronic Record and Signature Disclosure: Accepted: 6/8/2024 9:55:08 AM ID: aae28cd5-e484-4cff-9c31-a57ac955d924 Marc Bennett Sent: 6/10/2024 8:56:28 AM mb@aelmarkhams.co.uk Viewed: 6/11/2024 7:40:50 AM Mr Marc Bennett Signed: 6/11/2024 7:41:24 AM AEL Markhams Ltd Signature Adoption: Pre-selected Style Security Level: Email, Account Authentication (None) Using IP Address: 86.20.51.150 Signed using mobile Electronic Record and Signature Disclosure: Accepted: 12/19/2023 10:32:53 AM ID: a04b7ac4-99d9-41c7-8da0-e804efe39209
| In Person Signer Events | Signature | Timestamp |
|---|---|---|
| Editor Delivery Events | Status | Timestamp |
| Agent Delivery Events | Status | Timestamp |
| Intermediary Delivery Events | Status | Timestamp |
| Certified Delivery Events | Status | Timestamp |
| Carbon Copy Events | Status | Timestamp |
| Alan Brady | Sent: 6/11/2024 7:41:25 AM | |
| alanbrady@aelmarkhams.co.uk | ||
| Security Level: Email, Account Authentication | ||
| (None) |
Electronic Record and Signature Disclosure: Accepted: 2/28/2024 9:51:27 AM ID: 9466aba4-270a-4409-8461-f4d676615d29
Carbon Copy Events Status Timestamp Rachel Speid Sent: 6/11/2024 7:41:26 AM rachelspeid@aelmarkhams.co.uk PA A E L Markhams Ltd Security Level: Email, Account Authentication (None)
Electronic Record and Signature Disclosure: Not Offered via DocuSign
| Witness Events | Signature | Timestamp |
|---|---|---|
| Notary Events | Signature | Timestamp |
| Envelope Summary Events | Status | Timestamps |
| Envelope Sent | Hashed/Encrypted | 6/7/2024 3:44:53 PM |
| Certified Delivered | Security Checked | 6/11/2024 7:40:50 AM |
| Signing Complete | Security Checked | 6/11/2024 7:41:24 AM |
| Completed | Security Checked | 6/11/2024 7:41:26 AM |
| Payment Events | Status | Timestamps |
| Electronic Record and Signature | Disclosure |
Electronic Record and Signature Disclosure created on: 12/15/2023 5:17:24 PM Parties agreed to: Father Bruce Batstone, Marc Bennett, Alan Brady
ELECTRONIC RECORD AND SIGNATURE DISCLOSURE
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