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← The Parochial Church Council Of The Ecclesiastical Parish Of Hackney

2023-12-31-accounts

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Parish of Hackney

Annual Report and Accounts 2023

Hackney Church

ANNUAL REPORT 2023

(January – December 2023)

REFERENCE AND ADMINISTRATIVE INFORMATION

CHARITY NAME The Parochial Church Council of the Parish of Hackney (also known as Hackney Church) CHARITY NUMBER 1158545 CORRESPONDENCE Hackney Church House ADDRESS 1 Spiller House, Prodigal Square London E8 1FX TRUSTEES Members of the Parish Church Council (PCC) who served from 1 January 2023 to 31 December 2023 Rev’d Al Gordon – Rector Rev’d Mark Nelson – Associate Rector Rev’d Nathan Hayes – Curate (from September 2023) Rev’d Naomi Maxwell – Curate Rev’d John Parmiter – Clergy (from September 2023) Rev’d Jackie Parmiter – Clergy (from September 2023) Rev’d Vera Preedy – Clergy (from September 2023) Rev’d Ryan Rodrigues – Curate (from September 2023) Jennifer Jamie – Churchwarden Samuel Lawson Johnston – Churchwarden John Roe – Licenced Lay Minister Temitope Taiwo – General Synod Member Andrew Busk – Deanery Synod Representative Jacquie Driver – Deanery Synod Representative (from May 2023) Linda Harris – Deanery Synod Representative Polly Lorimer – Deanery Synod Representative (from May 2023) Alastair Marsh – Deanery Synod Representative Ellie Page – Deanery Synod Representative (from May 2023) Camille Sexton – Deanery Synod Representative (from May 2023) Elected Members: Martyn Bearfoot Anntoinette Bramble – Lay Vice Chair Natasha Duursma Michelle Fontaine John Fyson Peniel Gebreselassie Zoe Huggins – Secretary Dave Lochhead Graeme Nicoll – Co-Treasurer Tolu Obafemi Joshua Olomolaiye – Co-Treasurer Jackie Parmiter (to August 2023) John Parmiter (to August 2023) Olufisayo Sonuga Yvonne Tapper – Parish Safeguarding Officer

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Co-opted members:

Ayo Afolabi (From May 2023) Desmond Brown (From May 2023) Danielle Jinadu (From May 2023) PRIMARY BANKERS HSBC Bank Plc, 69 Pall Mall, London, SW1Y 5EY AUDITOR Brewers Chartered Accountants, Bourne House, Queen Street Gomshall, GU5 9LY

STRUCTURE, GOVERNANCE AND MANAGEMENT

Objectives and activities of Hackney Church

The objective and vision of Hackney Church is to bring hope to the people of East London.

The Parish of Hackney

The Parish of Hackney consists of two church buildings, St. John at Hackney and St. Luke’s of Homerton. St. John at Hackney has extensive grounds including a front garden area with parking, and a rear walled garden which is open to the community. The church offices and halls are located adjacent to the St. John at Hackney within Spiller House. The objectives and activities of Hackney Church take place in all locations within the Parish.

Hackney Church Experiences Limited

Hackney Church Experience Limited (HCEL), a related party consolidated in the financial accounts attached to this report, was incorporated in October 2020 to promote and manage events held within the church building of St. John at Hackney. The directors of the trading entity are also trustees of Hackney Church and any profits generated by HCEL are to be donated to Hackney Church.

St. John’s Housing Trust

St. John’s Housing Trust (SJHT) is a charitable entity whereby the trustees are also trustees of Hackney Church and therefore SJHT is consolidated in the financial accounts attached to this report. The objectives of the trust are to provide, through two Leasehold properties held in the Hackney Gardens housing development, reasonably priced accommodation to church clergy and/or employees or to other people in need. Any profits generated by the trust are to provide support to people in need in the Hackney community and to assist with the advancement of Christianity through the maintenance of accommodation for the Church of England.

SAINT

Hackney Church belongs to a collaboration of five parishes where the Rev’d Al Gordon is the incumbent. The concept of SAINT is for all parishes to deliver ministry with a collaborative approach to content, excellence and outreach objectives. Each parish is encouraged to press into the needs of their individual local parish, whilst also displaying the SAINT logo so that people moving around East London know that the churches operate with similar standards.

Responsibilities of the PCC

The Parochial Church Council (PCC) has the responsibility, with the Rector, of promoting in the parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical; maintenance, care and upkeep of the church and churchyard; financial responsibilities and duties as Charity Trustees. As a Church of England Parish, the PCC and Rector follow the requirements of Church of England Canon Law.

The PCC consists of Clergy, Churchwardens, Diocesan Synod Representatives and Deanery Synod Representatives as exofficio members and elected lay representatives from the congregation. PCC members are elected at the APCM, having been nominated by people entitled to attend the annual meeting.

At each full meeting, the PCC received reports on Finance, Building and Churchyard, Deanery Synod, Safeguarding and other items as necessary.

Clergy and Church Staff

The management of the church is overseen by the PCC and delegated to Rev’d Al Gordon. During 2023, the church clergy team consisted of Rev’d Mark Nelson, Rev’d Naomi Maxwell, Rev’d Vera Preedy, Rev’d Nate Hayes (as of September 2023), Rev’d Ryan Rodrigues (as of September 2023), Rev’d John Parmiter (as of September 2023), Rev’d Jackie Parmiter (as of September 2023) and Rev’d Farida Matthews (as of September 2023) whose roles are to look after the internal ministries and community outreaches of the church. Other clergy in training are Ordinands: Cyril Farrar and Temitope Taiwo. As of December 2023, the lay staff team consisted of 30 staff members operating within various ministries

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including Kids, Youth, Worship, Outreach, Discipleship, Evangelism and Central Services. In addition, many on the lay staff team also serve as Pastors within their ministry and support the work of other SAINT parishes.

The salaries for key management personnel are commensurate with similar positions in other charitable entities of a similar size and economic location.

Public Benefit

The PCC members confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have regard to the Charity Commission’s general guidance on public benefit. Hackney Church benefits the community by the activities described in this report.

Safeguarding

The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016, in relation to having due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults. The PCC has in place a Safeguarding Policy which is reviewed each year and appointed Safeguarding Officers and Children’s Champions. The Policy is displayed in the church and available from the Parish Office.

ACHIEVEMENTS AND PERFORMANCE

Parish electoral roll

There were 552 names on the Electoral Roll at the end of the revision process in 2024 (480 in 2023).

Services and Attendance

Three in person services took place at St John at Hackney on Sundays throughout 2023 along with a Sunday Youth Service at St Luke's Homerton, and a midweek communion service at St Luke’s Homerton. These services were: 10am Communion; 11am Family; 6pm Informal, the 11am Youth Service and 10am communion service on Wednesday mornings. Kids and Youth work continues to thrive, with around 250 0-18's engaging with services and events in the parish each week.

Our live online Service moved from 6pm to 11am, and the 11am service is made available again at 6pm for people to engage with the service. This has proved a very successful move, with several hundred people still engaging with church digitally each week.

In 2023, the average in-person Sunday attendance across SAINT parishes was 955 (October 2022: 701), with an attendance of 545 in the parish of Hackney (October 2022: 427). Average online Sunday service attendance per week in 2023 was 476 (October 2022: 247).

Register of occasional services

In 2023 there were three weddings, twenty four baptisms and four funerals officiated.

Worship

The contemporary worshipping life at SAINT has developed in a significant way over the last year. The worship crew is made up of over 80 volunteers who serve across eleven contemporary Sunday services every week. Alongside this, the staff and volunteers serve in midweek services and events such as Alpha and Prayer Gatherings. The team is well trained with regular training nights throughout the year, investing in their skills as musicians and their faith journeys. We have also recently begun the journey of writing new songs that have been written by the department and volunteers.

2023 was another eventful year for the choir and for traditional music in Hackney. Our choral scholarship scheme has continued across the year, providing a very valuable opportunity to young aspiring singers, and still partly funded through the generous contribution of the Ouseley Trust. The 10am Communion service has continued with the addition of new musical elements with new Mass settings by the Director of Music David Halstead. In addition, we have continued to work with the development of new commissions and musical partnerships to support the worship of this service, including links with the worship team.

We have also had an increased number of organists join us for various services over the year. The Choir combined both traditional and contemporary worship elements with great success in Hackney, as well as supporting the SAINT parish of St Mary’s, Leyton for Holy Week services. The congregations have commented on the high quality of the choir’s contribution, and we look forward to another year of similar work in 2024.

Hey Baby

Hey Baby is our toddler and baby group (4 years and under) that meets on Monday mornings in the church with the purpose of forming a community in a safe place. Hey Baby continues to meet the demand of provision for the very youngest in our community with over 100 babies, along with their parent or carers, lining up outside the doors on a weekly basis. We aim to work at expanding our volunteer team, so we are able to better support and encourage the

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parents that attend. We continue to see large number of our Hey Baby families attend our special Sundays such as Superhero Sunday, Easter Sunday, Carol Services and Nativity.

Kids

We continue to see the kids’ work grow in our Hackney Church, with regularly seeing over 70 children in attendance each week. In October 2023, we were able to welcome Keziah Apkovi onto the staff team as Hackney Kids Pastor which has enabled us to grow our work into more local schools providing emotional literacy short programs and continuing to carry out weekly clergy assemblies in our local Church School.

We saw a record number of families attend our Easter Sunday and Nativity services from our local community based on our connections with the local schools.

Youth

Our Youth Sunday Service at St Luke’s, Homerton, experienced continual growth, where Sunday mornings became a foundational gathering for youth, with worship, games, teaching, and prayer. We also began connecting groups dedicated to mentoring youth and introduced midweek gatherings to teach into creativity and to create more spaces to worship. Additionally, we organised midweek outings during school breaks, such as picnics, trampolining, and road trips to connect with other youth ministries.

On average, 45 youth were engaged each week (37 youth in 2022).

In 2023, Youth East continued to be an encouraging and faith building space among young people in East London, focusing on Encounter, Evangelism, and Empowerment. Hackney Church hosted four gatherings, including a two-day youth conference and a gathering at one of the churches who attend Youth East, attracting a total of 556 attendees. These events witnessed numerous first-time commitments to Jesus, distribution of Bibles, and empowerment of youth ministries to impact their local communities.

Students

In September 2023 we launched a students initiative, creating a space for people between the ages of 18-25 to find community and intentionally gather weekly. The young adults community are inspired to explore their faith, develop leadership skills, and make a positive impact both within the congregation and wider community.

House of Prayer and Joint Prayer Gatherings

Joint Prayer Gatherings with KXC and IMPRINT Church began in 2023, with five taking place throughout the year, attracting 800+ people to pray, including through the night in May. ‘House of Prayer’ was also launched in October, a new weekly prayer meeting.

Communications

In 2023, online and digital platforms continued to be a major focus, and our reach and engagement grew throughout the year. Multi-platform communication has helped to increase attendance at services and events. We regularly hear stories of people discovering SAINT and church events through our social media, flyers, and banners. We believe that excellent communication helps people to discover the church and build a stronger community within the Hackney Parish.

Alpha

The Alpha course ran three times in 2023. Alpha has been instrumental in growing the church, with a significant number of those attending joining the church by attending on a Sunday, volunteering on one of our crews or joining a connect group where they continue to study scripture and form community. Alpha continues to be a key area of focus going forward.

Lighthouse

Lighthouse is the ministry of Hackney Church which works with vulnerable and marginalised people, helping to alleviate need through our pioneering Drop-in Lunch and food pantry. Lighthouse models a culture of hope; honour, openness, proximity and empowerment to all those who use the services provided. We focus on building lasting relationships with our guests, providing practical assistance, restoring dignity and guiding individuals toward relevant services so they can build a future filled with hope.

Our Weekly lunches gather people from a wide range of backgrounds, all facing challenging circumstances and creates a community of belonging and support. We provide the sit-down meals once per week at each SAINT location including St Luke’s Homerton, St Mary’s Leyton, All Saints West Ham and St Leonard’s Shoreditch. During 2023, Lighthouse distributed 5718 meals (2022: 4,571) and hosted 4807 visits (2022: 2,874).

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At each session, guests are encouraged to access much needed support through clear signposting. Throughout the year, we have developed deeper relationships with external support providers including Hackney Council and hosted the launch of the Hackney Money Hub.

Through our relationship with City Harvest, Felix Project and other local groups, we continue to re-distribute surplus food to those in need. We are grateful to Hygiene Bank, Bloody Good Period and Inkind Direct as we continue to develop our monthly hygiene packs that are a lifeline for those in the cost of living crisis.

The Gardens at Lighthouse continued to develop; including a highlight of sowing an edible garden that Lighthouse attendees were able to harvest. We also ran the Lighthouse Floristry Employability Course which had 4 attendees, with most going on to do paid work or further volunteering.

In late December, Lighthouse distributed 1078 Christmas Boxes We worked across the borough of Hackney, Waltham Forest and Newham through 17 different local charities, schools and churches, spreading a message of Christian hope as well as a practical gift.

Lighthouse is exceptionally grateful to all of those that volunteer and donate much needed funds and supplies, including the generous ongoing donations of Hackney Parochial Charities and Church Revitalisation Trust, who enable our work to thrive.

RENAISSANCE - A School of Creativity

Churches from around the world have been visiting Hackney Church (as SAINT) since 2018 to explore creativity in the context of parish ministry, taking it back to their local church. In response to this, Renaissance Conference first took place in 2021 to gather many of these leaders and churches from across the world for 'Two Days of Wonder', with a vision to help people encounter their creator, equip creatives, and empower local churches to become cathedrals of creativity. The latest conference in 2023 attracted 930 leaders from over 150 churches all around the world.

In 2023, RENAISSANCE began exploring what it would look like to launch the conference and other activities elsewhere in the world, with events in the USA, Latin America and Peru also being explored for 2024 and beyond. Renaissance 'Collectives' were also launched, as smaller gatherings and communities that meet more regularly throughout the year to unpack the same ideas. The big idea is to see a new renaissance that flows from the church into culture and around the world, equipping leaders, creatives and churches to make an impact on their communities by releasing the power of creativity.

All the courses, activities and events outlined above could not take place without the much-appreciated help of volunteers from the congregation.

FABRIC AND FACILITIES REPORT

Quinquennial Inspection Report

The Quinquennial inspection for St. John at Hackney Church was carried out in March 2017 with a number of recommendations that were actioned through the Restoration project. The next Quinquennial Inspection is due later in 2024. The Quinquennial inspection recommendations for St. Luke’s, Homerton have been made and are in the process of being implemented.

Use of Church Building by Hackney Church Experiences Limited

Hackney Church Experiences Limited (HCEL) was launched in 2020 for the purpose of opening up our church to the wider community for large scale concerts, conferences and community events. Throughout 2023 we were able to host a number of really special concerts with artists such as Sampha, Dermot Kennedy, Shabaka Hutchings and Joy Crookes, welcoming over 40,000 guests. We have also been able to serve as a space to host community events such as Hackney Council’s AntiRacist Praxis Conference, Hackney Council Winter Warmer, and numerous away days to support the staff of the NHS and CAMHS. We have also partnered with corporate clients such as Kraft Heinz, and charity concerts in conjunction with Choose Love. These events have allowed us to rebuild bridges into our local community, with the church returning to the centre of the community for arts and culture.

Other land and property arrangements :

Pay and Display car park continues to operate via a contract with JustPark. The kiosk in the churchyard is being used for garden storage and the front portion being let to Bad Manners café. The church permits the usage of cabling under the footpaths for additional church revenues.

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FINANCIAL REVIEW 2023

Funding

The principal source of funding is from the congregation members and other supporters in the form of regular donations and collections, standing orders and direct debits. The total amount raised in this way for the ministries of Hackney Church in 2023 was £782,864 (2022: £791,295). We are immensely grateful to God and to all those who gave so generously. Other funding was from grants.

Income was also generated from the rental of the churchyard and parking areas. These activities were able to generate income of £124,352 (2022: £153,013).

In 2023, Hackney Church Experiences Limited generated a profit of £9,408 (2022: £5,668). The accumulated net liabilities of £33,640 (2022: £43,049) remain which arose from start-up expenditures. We expect this deficit to reduce throughout 2024 as we continue to rent the church building on a regular basis for commercial purposes.

Expenditure in support of the key objectives

All expenditure was in support of the key objectives. It is analysed into different church activities in note 3 of the financial statements. Most of the spending meets more than one of the key objectives.

Policy on reserves

PCC policy is to not deliberately build up reserves. Any reserves that may exist, result from accumulated giving at any one time.

Total unrestricted and designated reserves (accumulated deficit) at 31 December 2023 amounted to (£714,821) (2022: (£559,621)).

Risk assessment and mitigation

The risks which the organisation faces have been considered and measures will be implemented to ensure that appropriate systems, policies and procedures are in place to manage and mitigate the risks. Specifically, where there is financial risk, this is managed by strong financial systems and controls. These risks, including health and safety and employment, are being mitigated through modern management systems and practices. As a matter of general policy, independent professional advice is taken where appropriate.

The trustees are confident that with the continued support of the congregation and appropriate management of expenditure, the church is a going concern and will continue to be financially viable. The budgets continue to be prepared in line with the financial circumstances and trustees are confident that they will be able to prepare a balanced budget given the continued support of the congregation.

Investments

Hackney Church has investments that are held with CCLA. These investments are held at market value.

Grant making policy

The task of deciding how to distribute grants is done by the Rector with reference to the Treasurer. Grants are awarded to organisations, church members and community members based on an evaluation of each case. All giving follows Hackney Church’s mission policy of the promotion of the Christian gospel in proclamation and social action throughout the world.

Sustainability policy

Hackney Church encourages the adoption of sustainable practice in all areas of church life and work, to contribute to the overall reduction in carbon emissions and dealing with the growing evidence for man-made climate change. Measures taken include recycling, energy audits, solar panels, encouraging the use of public transport, cycling and walking.

Plans for future periods

The short and medium term plan is to continue with the same objectives and activities in support of them.

PCC trustee responsibilities

Charity law requires the PCC, the charity trustees, to prepare a statement of financial activities and statement of assets and liabilities for each financial year, which gives a true and fair view of the state of affairs of the church and of its financial activities for that year and adequately distinguishes any material special trust or other restricted fund of the church. In preparing those financial statements the PCC is required to:

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The PCC is responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the church, and to enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and the regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees and PCC members of Hackney Parish on 14[th] April 2025 and signed on their behalf by

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Rev’d Al Gordon Rector

Date: 18[th] April 2025

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF PAROCHIAL CHURCH COUNCIL OF HACKNEY CHURCH

Opinion

We have audited the financial statements of Parochial Church Council of Hackney Church (the ‘charity’) for the year ended 31 December 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, The Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on pages 7 and 8 the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations is as follows:

These matters were discussed amongst the engagement team at the planning stage and the team remained alert to noncompliance throughout the audit.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and Charity members as to whether the charity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of Charity meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that

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material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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Andrew Skilton (Senior Statutory Auditor) For and on behalf of Brewers Chartered Accountants, Statutory Auditor

Unit 3 Birtley Courtyard Bramley Surrey GU5 0LA

23[rd] April 2025

Brewers Chartered Accountants is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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Parochial Church Council of Hackney Church Consolidated Statement of Financial Activities For the year ended 31 December 2023

Parochial Church Council of Hackney Church
Consolidated Statement of Financial Activities
For the year ended 31 December 2023
Unrestricted
Funds
Designated
Funds
Restricted
Funds
Total funds
2023
Note
£
£
£
£
INCOME FROM:
Congregation Giving
2(a)
700,430
-
82,434
782,864
Charitable Activities
2(b)
15,129
-
58,275
73,403
Other Funds Generated
2(c)
539,106
-
283,559
822,665
Investments
2(d)
3,036
-
-
3,036
Other Income
2(e)
3,402
-
15
3,417
Collections for other SAINT Parishes
2(f)
-
-
282,477
282,477
Other Trading Activities
2(g)
-
637,587
34,857
672,445
TOTAL INCOME
1,261,103
637,587
741,616
2,640,307
EXPENDITURE ON:
Church activities
3(a)
1,346,111
26,756
465,288
1,838,155
Building Projects
3(b)
-
-
-
-
Expenses for other SAINT Parishes
3(c)
-
-
293,592
293,592
Other Trading Activities
3(d)
-
628,179
14,887
643,066
TOTAL EXPENDITURE
1,346,111
654,935
773,767
2,774,813
NET INCOME/(EXPENDITURE)
(85,008)
(17,348)
(32,151)
(134,506)
(Losses)/Gains on Investment assets
9,617
-
-
9,617
NET MOVEMENT IN FUNDS
(75,391)
(17,348)
(32,151)
(124,889)
Balances brought forward at 1 January 2023
(718,455)
14,564
521,234
(182,656)
BALANCES CARRIED FORWARD
AT 31 DECEMBER 2023
(793,846)
(2,784)
489,084
(307,546)		 Unrestricted
Funds
Designated
Funds
Restricted
Funds
Total funds
2022
£
£
£
£
736,045
-
55,250
791,295
58,626
-
30,210
88,836
244,459
-
190,743
435,201
2,561
-
-
2,561
4,102
-
-
4,102
-
-
187,722
187,722
-
438,210
29,612
467,822
1,045,792
438,210
493,537
1,977,539
1,471,424
53,512
260,674
1,785,609
130,851
-
-
130,851
-
-
206,387
206,387
-
432,542
13,806
446,347
1,602,275
486,054
480,866
2,569,195
(556,483)
(47,844)
12,670
(591,656)
(9,094)
-
-
(9,094)
(565,577)
(47,844)
12,670
(600,750)
(152,878)
62,408
508,564
418,094
(718,455)
14,564
521,234
(182,656)

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Parochial Church Council of Hackney Church Statements of Assets and Liabilities For the year ended 31 December 2023

2023
2022
Note
£
£
FIXED ASSETS
Investments
12
95,237
85,521
Tangible assets
8
489,388
628,568
584,625
714,089
CURRENT ASSETS
Current account & Cash on Hand
398,961
130,260
Church of England Cash Deposit fund
7,839
154,406
Debtors
11
251,800
216,120
Prepayments
11
12,006
14,958
670,606
515,744
LIABILITIES: AMOUNTS FALLING DUE WITHIN
13(a)
(529,567)
(369,449)
NET CURRENT ASSETS
141,039
146,295
LIABILITIES: AMOUNTS FALLING DUE AFTER
13(b)
(1,033,210)
(1,043,040)
NET ASSETS
(307,546)
(182,656)
FUNDS
9
Unrestricted
(793,846)
(718,455)
Designated
30,857
57,613
Restricted
58,942
85,862
Designated Non-Charitable Trading Reserves
(33,640)
(43,049)
Restricted Reserves of the Consolidated Charity
430,142
435,372
(307,546)
(182,656)
GROUP		 2023
2022
£
£
95,237
85,521
66,748
191,437
161,985
276,958
158,247
49,329
7,839
154,406
249,891
334,094
12,006
14,958
427,982
552,787
(260,808)
(361,688)
167,174
191,099
(1,033,210)
(1,043,040)
(704,051)
(574,983)
(745,678)
(617,234)
30,857
57,613
10,770
(15,362)
-
-
-
-
(704,051)
(574,983)
Hackney Church

Approved by the Parochial Church Council and signed on its behalf by:

==> picture [98 x 38] intentionally omitted <==

Rev'd Al Gordon Rector of the Parish of Hackney

Date: 18th April 2025

The notes on the subsequent pages form part of these financial statements.

13

Parochial Church Council of Hackney Church Consolidated Cash Flow Statement For the year ended 31 December 2023

Parochial Church Council of Hackney Church
Consolidated Cash Flow Statement
For the year ended 31 December 2023
Cash Flows from Operating Activities:
Note
Net Expenditure for the Year
Adjustments for:
Depreciation
8
Dividend and Interest Income from Investment Activities
2(d)
Interest Paid on Financing Activities
Interest Reinvested into Investment Assets
Unrealised (Gains)/Losses on Investment Assets
Net expenditures on Building Restoration Project
Less Grants Received as Financing Activities
(Increase)/Decrease in operating activity debtors
11
Decrease/(Increase) in operating activity prepayments
11
Increase/(Decrease) in operating activity creditors
13
Net Cash Flow from Operating Activities:
Cash Flows from Building Restoration Project:
Net expenditures from Building Restoration Project
3(b)
Net Cash from Building Project Activities:
Cash Flows from Investing Activities:
Purchase of other fixed assets
8
Interest received on Investment Activities
2(d)
Net Cash from Investing Activities:
Cash Flows from Financing activities:
Interest paid
Grants received in Current Year from Financing Activities
Loan - Stewardship
Net Cash Flows from Financing activities:
Net Decrease in Cash and Cash equivalents
Movement in cash and cash equivalents:
Net Decrease in cash and cash equivalent
Cash and cash equivalents at beginning of period
Cash and cash equivalent as at end of Period		 2023
2022
£
£
(124,889)
(600,750)
153,691
256,863
(3,036)
(2,601)
9,586
(100)
(9,617)
9,056
-
130,851
-
(156,118)
(35,681)
11,305
2,952
(7,336)
160,118
28,609
153,025
(330,121)
-
(130,851)
-
(130,851)
(14,512)
(57,642)
3,036
2,601
(11,476)
(55,041)
(9,586)
-
-
156,118
(9,829)
43,040
(19,415)
199,158
122,134
(316,856)
122,134
(316,856)
284,666
601,523
406,800
284,666
Group
2022
£
(600,750)
256,863
(2,601)
9,056
130,851
(156,118)
11,305
(7,336)
28,609
(330,121)
(130,851)
(130,851)
(57,642)
2,601
(55,041)
-
156,118
43,040
199,158
(316,856)
(316,856)
601,523
284,666

14

Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2023

1. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The PCC meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The consolidated financial statements includes the results, assets and liabilities, including that of Hackney Church Experiences Limited and St. John's Housing Trust, for which the PCC is responsible in law. They do not include the accounts of other charities or Church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members over which the PCC does not have operational or financial control.

Saint Music Collective Limited (SMC), Company Number 13448340, was formed in June 2021 for the purpose of recording and promoting Christain worship music. The majority of SMC's directors are also trustees of Hackney Church. At this time, the activies of SMC are immaterial In 2022, the accounts of SMC were not consolidated as the amounts are immaterial. Transactions made between Hackney Church and SMC are disclosed in Note 7.

The PCC considers that Hackney Church is a going concern as it has prepared what it considers a viable budget that shows that the current level of income and unrestricted reserves are sufficient to support the activities planned for 2024 and for the foreseeable future. The trustees are confident that with the continued support of the congregation and appropriate management of expenditure, the negative unrestricted fund position will be managed without adversity. Therefore, the accounts are prepared based on Hackney Church being a going concern.

The trustees are confident that with the continued support of the congregation and appropriate management of expenditure, the church is a going concern and will continue to be financially viable. Budgets will continue to be prepared in line with current financial circumstances and trustees are confident that they will be able to prepare a balanced budget given the continued support of the congregation.

Funds

Unrestricted and designated funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Restricted funds are those endowments, legacies, donations or grants for specific purposes. The funds may only be expended on the specific object for which they are given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The details of the funds are set out in note 9.

Income

Voluntary income

Planned giving, collections and donations are recognised when received. An estimate of income tax recoverable is recognised when the related donations are recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable. Sales of books and magazines from the church bookstall are accounted for gross.

Income from investments

Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue.

Other income

Rental income from the letting of church premises is recognised when the rental is due. Other income is recognised when received.

Income from charitable activity is accounted for as it accrues. Income from fundraising events are accounted for at gross value.

15

Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2023

1. ACCOUNTING POLICIES (continued)

Expenditure

Grants

Grants and donations are accounted for when paid over, or when the award has been notified to the recipient, whichever is sooner, if the award creates a binding obligation on the PCC.

Church activities

The diocesan Common Fund is accounted for when paid. Any Common Fund unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet. All other expenditure is generally recognised when it is incurred and is accounted for gross.

Fixed assets

Consecrated property and moveable church furnishings

The properties within this class are the church building. Consecrated and beneficed property of any kind is excluded from the accounts by s.10 of the Charities Act 2011.

Moveable church furnishings held by the Rector 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). All expenditure incurred in the year on consecrated or beneficed buildings or on the repair of movable church furnishings is written off.

Other fixtures, fittings and office equipment

Only items of greater than £500 are capitalised. Church production equipment comprises a number of electrical and other items connected with sound, vision and worship. They will be depreciated over three years from date of first use.

Computer and office equipment and furnishings are depreciated over three years from date of first use.

Vehicles are depreciated over 6 years using the reducing balance method.

Leasehold Properties

Leasehold properties are depreciated over 50 years from date of acquisition.

Current assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.

Investments

Except where otherwise indicated in the notes to the financial statements, investments are valued at market value as of 31 December.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charity’s accounting policies, the Trustees 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 underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

There were no specific judgements, estimates and assumptions that were critical to the preparation of these financial statements.

16

Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2023

2 CONSOLIDATED INCOME

2(a) Congregation Giving
Regular donations
One-off donations
Collections (open plate) at all services
Gift Aid from HMRC
Special appeals
2(b) Charitable activities
Church Events
Wedding, baptism and Funeral Fees
2(c) Other Funds Generated:
Property income
Grants
Resource Church Income
Listed Places of Worship Tax Refund
2(d) Investments
Investment Interest
Dividend Income
Bank interest
2(e) Other Income
Other Income
2(f) Donations Collected for Other SAINT Parishes
Collections for SAINT Parishes
2(g) Trading Activity Income
HCEL
SJHT
Total Consolidated Income
3 CONSOLIDATED EXPENDITURE
3(a) Church Activities
Sunday. Digital and Special Services
Worship and Prayer Ministry
Families, Students, Youth and Children
Evangelism Expenses
Discipleship Expenses
Church Event Expenses
Wider Christian Community Support
Outreach / Giving to other Organisations
Clergy Expenses
Premises, Building and Maintenance costs
Administration and Central Costs
Miscellaneous Expenses
Total Church Activities
3(b) Building and Property Expenditures
Church Building Restoration Project
3(c) Expenses Incurred on behalf of other SAINT Parishes
Expenses on behalf of other SAINT Parishes
3(d) Trading Activities
HCEL
SJHT
Total Consolidated Expenditure		 Unrestricted
Funds
Designated
Funds
Restricted
Funds
TOTAL FUNDS
2023
TOTAL FUNDS
2022
£
£
£
£
£
390,507
2,320
392,827
388,867
180,953
78,108
259,061
221,471
15,347
190
15,537
20,859
113,623
113,623
128,199
1,816
1,816
31,898
700,430
-
82,434
782,864
791,295
11,500
58,275
69,774
83,857
3,629
3,629
4,979
15,129
-
58,275
73,403
88,836
124,352
124,352
153,013
377,286
272,443
649,730
237,278
30,707
11,115
41,823
44,308
6,761
6,761
602
539,106
-
283,559
822,665
435,201
100
100
-
-
-
2,936
2,936
2,561
3,036
-
-
3,036
2,561
3,402
15
3,417
4,102
-
282,477
282,477
187,722
-
637,587
637,587
438,210
34,857
34,857
29,612
1,261,103
637,587
741,616
2,640,307
1,977,539
Unrestricted
Designated
Restricted
TOTAL FUNDS
TOTAL FUNDS
£
£
£
£
£
313,836
13,670
-
327,507
421,385
114,837
-
-
114,837
104,461
52,819
-
65,243
118,062
114,402
39,864
-
-
39,864
46,393
35,745
-
-
35,745
41,014
54,417
-
236,399
290,817
116,384
87,964
-
-
87,964
77,252
256
144,311
144,567
148,696
16,644
1,720
18,364
10,916
376,281
-
17,400
393,681
419,672
236,750
13,086
-
249,836
275,132
16,698
-
214
16,912
9,903
1,346,111
26,756
465,288
1,838,155
1,785,609
-
130,851
293,592
293,592
206,387
628,179
628,179
432,542
14,887
14,887
13,806
1,346,111
654,935
773,767
2,774,813
2,569,195

17

Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2023

4 Consolidated Entities

4(a) Hackney Church Experiences Limited

The PCC, through nominees, manages 100% of the issued share capital of Hackney Church Experiences Limited (registered number: 12470018) ("HCEL"), whose principal activities during the year were those of operating as a venue coordinator for gigs, music events and other hiring of the church spaces.

All distributions from trading reserves are donated to the Parish of Hackney.

Turnover
Venue Hire
Music Event Income
Other Income
Total Turnover
Operating Expenditures
Administrative Expenses
Music Consultants
Event Marketing and Communications
Music Event Expenses
Use of Hackney Church staff
Depreciation
Total Operating Expenditures
Net Profit/(Loss) Retained in HCEL
Distributions to the Parish of Hackney
Accumulated (Loss) Brought Forward
Non-Charitable Trading Reserves		 2023
2022
£
£
56,182
82,155
577,237
356,055
4,168
-
637,587
438,210
4,347
4,399
25,720
7,000
2,449
8,347
539,149
333,764
51,023
73,541
5,491
5,491
628,179
432,542
9,408
5,668
-
-
(43,049)
(48,717)
(33,640)
(43,049)

4(b) St. John's Housing Trust

The PCC, through trustees, manages 100% of St. John's Housing Trust (Registered Charity number 1172228) ("SJHT"), whose principal activities during the year were to supply affordable housing to Hackney Church employees.

Although the objectives of the charity are aligned to the church, the Parish of Hackney and SJHT transact as independent entities.

Income
Rental Income
Interest Income
Total Income
Expenditures
Administration Expenses
Repairs and Maintenance
Grants Distributed
Deprecation of Leasehold Buildings
Total Expenditures
Net (Deficit)/Surplus Retained in SJHT
Accumulated Surplus Brought Forward
Charitable Trading Reserves		 2023
2022
£
£
34,800
32,181
57
31
34,857
32,212
276
1,060
5,611
3,746
25,200
25,200
9,000
9,000
40,087
39,006
(5,229)
(6,794)
435,372
442,166
430,143
435,372

18

Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2023

5 GOVERNANCE COSTS

The remuneration to the auditors for the audit of the 2023 accounts was £15,000. (2022: £15,000)

==> picture [433 x 56] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Wages and salaries (incl. PAYE)|873,232|777,247| |Employers Social security costs|85,315|68,778| |Employers Pension Costs|23,118|18,722| |981,665|864,747|

----- End of picture text -----

6 STAFF COSTS

During the year the PCC employed the full time equivalent ("FTE") of 25.3 people (2022: 25.3) and on the basis of actual number of people employed regardless of FTE the number of people employed in the year 29 (2022: 31). HCEL and SJHT did not have any direct employees in 2023 (2022:nil).

Two employees earned in excess of £60,000 in the year 2023 (2022: One) with £1,908 of Employers Pension Cost (2021: nil). Total remuneration for key management personnel was £68,000 in the year. (2022: £65,000)

Clergy members are employed by the Diocese of London and not by Hackney Church so their costs have not been included in the salary figures shown above. Hackney Church is also obliged to provide accommodation to its ordained staff and its policy is to provide similar accommodation to its off-Common Fund clergy as to that provided by the Diocese to the rector. As clergy are ex-officio members of the PCC they are in effect related parties in relation to their accommodation, but the details of this benefit provided by Hackney Church has not been separately analysed in these statements.

==> picture [453 x 69] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |7 RELATED PARTY TRANSACTIONS|2023|2022| |£|£| |Received from Hackney Parochial Charity|43,500|36,000| |Received from St. John's Housing Trust as a grant|25,200|25,200| |Paid to St. John's Housing Trust for accommodation|-|2,600| |Receivable from Hackney Church Experiences Limted for services rendered and supplies|67,495|73,541| |Receivable from Saint Music Collective Limited|15,475|15,475|

----- End of picture text -----

Two members of the PCC are also trustees of the Hackney Parochial Council. Hackney Parochial Council charity is not a related party as defined by the Charities Commission however, the transactions are disclosed in the interest of transparency.

The known amount given to the church by the members of the PCC and Clergy during their time in office in 2023 is £119,125 (2022: £145,214). There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.

In 2023 2 trustees received remuneration for employment at Hackney Church for work unrelated to trusteeship. The governing documents of Hackney Church permit a trustee to also be an employee provided that the salary is at fair market and the other trustees of the church are in approval. No other amounts in regards to employment or expenses were reimbursed that were not incurred directly on behalf, and for the benefit of, the Church.

8 TANGIBLE FIXED ASSETS

==> picture [498 x 178] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |PCC| |IT and|PCC|PCC|SJHT|HCEL| |Computer|Furniture|Production|PCC|PCC|Leasehold|Furniture| |Equipment|and Fixtures|Equipment|Vehicles|Subtotal|Property|and Fixtures|Total 2023| |£|£|£|£|£|£|£|£| |Cost at 1 January 2023|26,585|200,891|622,442|19,518|869,436|450,000|16,474|1,335,910| |Additions during year|2,798|2,000|9,714|14,512|14,512| |Disposals during year|(752)|-|(752)|-|-|(752)| |Cost at 31 December 2023|29,383|202,139|632,156|19,518|883,196|450,000|16,474|1,349,670| |Depreciation at 1 January 2023|(15,998)|(146,868)|(508,229)|(6,905)|(678,000)|(23,250)|(6,093)|(707,343)| |Charge for the year|(6,365)|(29,414)|(101,319)|(2,102)|(139,200)|(9,000)|(5,491)|(153,691)| |Disposals during year|752|-|752|-|-|752| |Depreciation at 31 December 2023|(22,363)|(175,530)|(609,548)|(9,007)|(816,448)|(32,250)|(11,584)|(860,282)| |Net Book Value at 1 January 2023|10,587|54,023|114,213|12,613|191,436|426,750|10,381|628,567| |Net Book Value at 31 December 2023|7,020|26,609|22,608|10,511|66,748|417,750|4,890|489,388|

----- End of picture text -----

19

Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2023

9 STATEMENT OF FUNDS

Unrestricted Funds
Unrestricted Fund
Total Unrestricted Funds
Designated Funds
Experiences Fund
London Aged Christian Society
St. Luke's Quinquennial Fund
HCEL Trading Activities
Total Designated Funds
Restricted Funds
Lighthouse Project
Hackney Parochial Charity
St. John's Housing Fund
Festival Bursaries and Support
Retirement Fund
All Saints Church West Ham
St. Leonard's Church Shoreditch
St. Mary's Church Leyton
Youth Minster and BLMF
Student Fund
West Ham School Supplies
Renaissance SPARK
Renaissance Events and Growth
Clergy Professional Support
Special Collections
SJHT Charity Activities
Consolidated Eliminations in Restricted Funds
St. John's Housing Fund
SJHT Charity Activities
Total Restricted Funds
Total Funds		 At
1st January 2023
Income
Gains from
Investments
Expenditures
At
31st December
£
£
£
£
£
(718,455)
1,261,103
9,617
(1,346,111)
(793,846)
(718,455)
1,261,103
9,617
(1,346,111)
(793,846)
26,756
(26,756)
(0)
120
120
30,737
30,737
(43,049)
637,587
(628,179)
(33,640)
14,564
637,587
-
(654,935)
(2,784)
51,105
155,699
(155,504)
51,300
12,000
13,500
(3,062)
22,438
(49,000)
-
(49,000)
-
7,689
(7,689)
-
169
169
-
93,381
(93,381)
-
-
121,012
(121,012)
-
-
79,199
(79,199)
-
-
64,076
(64,076)
-
1,920
(1,356)
564
3,450
3,450
78,679
(71,463)
7,216
93,226
(164,754)
(71,528)
4,252
(1,720)
2,532
1,538
1,816
(3,354)
-
435,372
34,857
(40,087)
430,142
454,634
749,306
-
(806,656)
397,283
49,000
49,000
17,600
25,200
42,800
66,600
-
-
25,200
91,800
521,234
749,306
-
(781,456)
489,083
(182,656) 2,647,996 9,617 (2,782,502) (307,546)

Restricted Funds of the PCC

The Lighthouse Project is to support local people in need within the local community.

The Hackney Parochial Charity Fund supports local people living below the poverty line and is used for helping people within the Church Ministries. The St. John's Housing Fund represents the support from and paid housing costs to St. John's Housing Trust.

The Festival Bursaries and Support Fund represents grants and monies received for the support of congregation to attend Church and religious event The Retirement Fund has been in place for some time and is from special retirement collections.

The All Saint's Church West Ham is for monies received and incurred for the support of All Saint's Church in West Ham The St. Leonard's Church Shoreditch is for monies received and incurred for the support of St. Leonard's Church in Shoreditch The St. Mary's Church Leyton Trust is for monies received and incurred for the support of St. Mary's Church in Leyton. The Youth Minster grant along with BLMF are restricted grants toward expanding Youth ministry across the Stepney area. The West Ham School Supplies fund is for donations within the West Ham area for children in need of school materials and equipment. The Renaissance SPARK grant are funds given to launch the Renaissance movement outside of the church parish. The Clergy Professional Support represents funds given for the support, career development and mental health of the Clergy. The Special Collections fund are monies that are collected on behalf of another charity and are forwarded on accordingly. The Heritage Lottery Fund grant is for extensive refurbishment of the church building.

20

Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2023

10 ANALYSIS OF ASSETS BY FUND

10(a) Group Assets by Fund
Leasehold Properties
Fixed Assets for church use
Fixed asset Investments
Current Assets
Liabilities due within one year
Liabilities due after one year
Total Group Assets by Fund
10(b) PCC Assets by Fund
Fixed Assets for church use
Fixed asset investments
Current Assets
Liabilities due within one year
Liabilities due after one year
Total PCC Assets by Fund
11 DEBTORS AND PREPAYMENTS
Debtors
Gift Aid tax recoverable
Grants Receivable
Amounts Due from Saint Music Collective
Amounts Due from SAINT churches
Accounts Receivable
Amounts Receivable from HCEL
Amounts Receivable from SJHT
Other Debtors
Total Debtors
Prepayments and Deposits
Other Prepayments for Church Activities
Total Prepayments		 Unrestricted
Funds
Designated
Funds
Restricted
Funds
Total
£
£
£
£
-
-
417,750
417,750
58,340
4,890
8,409
71,638
64,500
30,737
-
95,237
347,681
226,789
96,136
670,606
(264,368)
(265,199)
-
(529,567)
(1,000,000)
-
(33,210)
(1,033,210)
(793,847)
(2,783)
489,084
(307,546)
Unrestricted
Funds
Designated
Funds
Restricted
Funds
Total
£
£
£
£
58,340
-
8,409
66,748
64,500
30,737
-
95,237
392,290
120
35,572
427,982
(260,808)
-
0
(260,808)
(1,000,000)
-
(33,210)
(1,033,210)
(745,678)
30,857
10,770
(704,051)
`
Group 2023
Group 2022
PCC 2023
PCC 2022
£
£
£
£
16,803
21,890
16,803
21,890
35,001
30,000
35,001
30,000
15,475
15,475
15,475
15,475
38,036
94,195
38,036
94,195
108,926
36,700
24,623
121,169
-
-
82,393
7,106
-
-
-
26,468
37,559
17,858
37,559
17,790
251,800
216,120
249,891
334,094
12,006
14,958
12,006
14,958
12,006
14,958
12,006
14,958

12 INVESTMENTS

HCEL and SJHT had no investments throughout 2023 (2021: nil). Amounts below represent Investments held by the PCC.

Investments Activity
CCLA - Home Mission Deposit Account
CCLA - Investment Account
CCLA - Investment Account
Investments by Fund
CCLA - Home Mission Deposit Account
CCLA - Investment Account
CCLA - Investment Account
The historic cost of investments is £53,052.		 Market Value
as of 1 Jan
2023
Unrealised
Gains on
Investments
Dividend and
Interest
Income
Transfer of
Income to
other accounts
Market Value
as of 31 Dec
2023
£
£
£
£
£
3,107
-
100
-
3,207
56,823
7,188
64,011
25,591
2,429
-
-
28,020
85,521
9,617
100
0
95,237
Unrestricted
Designated
Restricted
Total 2023
Total 2022
£
£
£
£
£
3,207
-
-
3,207
3,107
33,274
30,737
-
64,011
56,823
28,020
-
-
28,020
25,591
64,500
30,737
-
95,237
85,521

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Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2023

13(a) LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accounts Payable
Amounts Payable to Employees for Expenses
Other Creditors
PAYE and NI due to HMRC
VAT Payable
Audit Fee
Rental Deposits held
Other Accruals		 2023
2022
£
£
131,776
84,766
2,215
5,325
170,781
24,004
17,272
38,719
1,058
15,000
15,000
4,817
11,943
142,254
234,085
529,567
369,449
Group		 2023
2022
£
£
72,847
72,422
2,215
5,325
11,434
24,004
17,272
13,723
14,889
15,000
15,000
1,917
6,043
119,668
230,737
260,808
361,688
PCC

13(b) LIABILITIES: AMOUNTS FALLING DUE AFTER ONE YEAR

Long Term Loan
Loan - Stewardship		 2023
2022
£
£
1,000,000
1,000,000
33,210
43,040
1,033,210
1,043,040
Group		 2023
2022
£
£
1,000,000
1,000,000
33,210
43,040
1,033,210
1,043,040
PCC

14 POST BALANCE SHEET EVENT

A long term drawdown facility was agreed with an unrelated party in late 2019. The amount of £1,000,000, in Liabilities: amounts falling due after one year, was drawn in December 2019 and remained outstanding at the year end. After the year end, in September 2024, £250,000 of this loan was converted into an unrestricted grant. This is a non-adjusting event for the year ended 31 December 2023.

22