Parish of Hackney Parish of Hackney
Annual Annual Report and Accounts 202 Report and Accounts 2024 4
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also serve as Pastors within their also serve as Pastors within their ministry and support the work of other SAINT parishes. ministry and support the work of other SAINT parishes.
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select Suttable accounting policies and then apply them consistently: make judgements and estimates that are reasonable and prudent.. state whether the policies adopted are in accordance with the appropriate Statement of Recommended Practice on Accounting by Charities and the Accounting Regulations and with applicable accounting standards. subject to any material departures disclosed and explained in the financial statements: prepare the accounts on the going concern basis unless it is inappropriate to presumethatthe church will continue to operate. 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 wrth applicable Accounting Standards and Statements of Recommended Practice and the regulations made under the Charities Acr 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 IÉ ID .24 and signed on their behalf by Rev'd Al Gordon Rector Date: g6.10 LS
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https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. . This description forms part of our auditor's
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Parochial Church Council of Hackney Church Consolidated Statement of Financial Activities For the year ended 31 December 2024
| Unrestricted Funds Designated Funds Restricted Funds TOTAL FUNDS 2024 Note £ £ £ £ INCOME FROM: Congregational Giving 2(a) 1,359,013 - 19,034 1,378,047 Charitable Activities 2(b) 12,121 - 60,187 72,308 Other Funds Generated 2(c) 531,636 - 264,147 795,783 Investments 2(d) 5,047 - - 5,047 Other Income 2(e) 145,713 - - 145,713 Collections for other SAINT Parishes 2(f) - - 277,397 277,397 Other Trading Activities 2(g) - 1,013,761 34,853 1,048,614 TOTAL INCOME 2,053,530 1,013,761 655,617 3,722,908 EXPENDITURE ON: Church activities 3(a) 1,698,467 - 385,223 2,083,690 Expenses for other SAINT Parishes 3(b) - - 372,668 372,668 Other Trading Activities 3(c) - 988,502 15,340 1,003,842 TOTAL EXPENDITURE 1,698,467 988,502 773,231 3,460,200 NET INCOME/(EXPENDITURE) 355,064 25,259 (117,614) 262,709 (Losses)/Gains on Investment assets 170 - - 170 NET MOVEMENT IN FUNDS 355,234 25,259 (117,614) 262,879 Balances brought forward at 1 January 2024 (793,846) (2,784) 489,084 (307,546) BALANCES CARRIED FORWARD AT 31 DECEMBER 2024 (438,611) 22,475 371,470 (44,667) |
Unrestricted Funds Designated Funds Restricted Funds TOTAL FUNDS 2024 Note £ £ £ £ INCOME FROM: Congregational Giving 2(a) 1,359,013 - 19,034 1,378,047 Charitable Activities 2(b) 12,121 - 60,187 72,308 Other Funds Generated 2(c) 531,636 - 264,147 795,783 Investments 2(d) 5,047 - - 5,047 Other Income 2(e) 145,713 - - 145,713 Collections for other SAINT Parishes 2(f) - - 277,397 277,397 Other Trading Activities 2(g) - 1,013,761 34,853 1,048,614 TOTAL INCOME 2,053,530 1,013,761 655,617 3,722,908 EXPENDITURE ON: Church activities 3(a) 1,698,467 - 385,223 2,083,690 Expenses for other SAINT Parishes 3(b) - - 372,668 372,668 Other Trading Activities 3(c) - 988,502 15,340 1,003,842 TOTAL EXPENDITURE 1,698,467 988,502 773,231 3,460,200 NET INCOME/(EXPENDITURE) 355,064 25,259 (117,614) 262,709 (Losses)/Gains on Investment assets 170 - - 170 NET MOVEMENT IN FUNDS 355,234 25,259 (117,614) 262,879 Balances brought forward at 1 January 2024 (793,846) (2,784) 489,084 (307,546) BALANCES CARRIED FORWARD AT 31 DECEMBER 2024 (438,611) 22,475 371,470 (44,667) |
Unrestricted Funds Designated Funds Restricted Funds TOTAL FUNDS 2023 £ £ £ £ |
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| 700,430 - 82,434 782,864 15,129 - 58,275 73,403 539,106 - 283,559 822,665 3,036 - - 3,036 3,402 - 15 3,417 - - 282,477 282,477 - 637,587 34,857 672,445 |
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| 2,053,530 1,013,761 655,617 3,722,908 |
1,261,103 637,587 741,616 2,640,307 |
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| 1,346,111 26,756 465,288 1,838,155 - - 293,592 293,592 - 628,179 14,887 643,066 |
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| 1,698,467 988,502 773,231 3,460,200 |
1,346,111 654,935 773,767 2,774,813 |
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| 355,064 25,259 (117,614) 262,709 170 - - 170 355,234 25,259 (117,614) 262,879 (793,846) (2,784) 489,084 (307,546) (438,611) 22,475 371,470 (44,667) |
(85,008) (17,348) (32,151) (134,506) 9,617 - - 9,617 |
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| (75,391) (17,348) (32,151) (124,889) (718,455) 14,564 521,234 (182,656) (793,846) (2,784) 489,084 (307,546) |
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Panxhlal Chwch Coundl ol Ha¢knyChurch Statements of Assets and Uabilltles Forthe year ended 31 De¢ember 2024 Ha(kMyChurth 2024 Investments Tangible assets 12 3.377 465ffi2 95,237 489388 3.377 56,911 60,288 95.237 66,748 161,985 CURRENT ASSEfs Current account and Cash on Hand Church of England Cash Depos fund Oebtofs PpaymeThts 398.961 7.839 25IMJ 12,C¥J6 670.6C 257.889 7.839 269.835 lo,5) 158.247 7,839 249.891 12,Q)6 427.981 7.839 316.870 10,740 .160 li li LIABILMES.. AMOUP4TS FALUNG DUE wmiipi ONEYEAR 131al IS7&7761 1529.5671 1294,Wl I260,)8) 259,393 i. 251068 167.174 UAfyILmES: AMOUNTS FAW14G DUEATh MORETHAN ONE 13(bl 1773,(P381 IIM33.210) 1773.0981 11,033,210) 460.742 704,051 FUNDS Unrestrfrted Designated Restrirted Designated NoFTriharitalAe Tradiw Reserve5 1438.6111 30,857 371.470 18.3821 44667 (793.8461 30.857 14TY,3361 120 12.474 (745,6781 30,857 10,770 133,6401 X17.546 460.74 704.051 Appro the Pafochlal Church Council aThJ signed on its behalf .. Al Gordon ttor of the Parish of Hacknty DATE.. The notes on the subsequent paeesfom part of these financial 5taternent> 14
Parochial Church Council of Hackney Church Consolidated Cash Flow Statement For the year ended 31 December 2024
| Parochial Church Council of Hackney Church Consolidated Cash Flow Statement For the year ended 31 December 2024 |
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| Cash Flows from Operating Activities: Note Net Income (Expenditure) for the Year Adjustments for: Depreciation 8 Dividend and Interest Income from Investment Activities 2(d) Interest Paid on Financing Activities Disposal of investment Assets Interest Reinvested into Investment Assets Unrealised (Gains)/Losses on Investment Assets (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 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 Loan movement Net Cash Flows from Financing activities: Net increase in Cash and Cash equivalents Movement in cash and cash equivalents: Net increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalent as at end of Period |
2024 2023 £ £ 262,879 (124,889) 40,414 153,691 (5,047) (3,036) (4,747) 9,586 92,647 - (617) (100) (170) (9,617) (65,069) (35,681) 1,266 2,952 49,209 160,118 370,765 153,025 (16,688) (14,512) 5,047 3,036 (11,641) (11,476) 4,747 (9,586) (260,113) (9,829) (255,365) (19,415) 103,759 122,134 103,759 122,134 406,800 284,666 510,559 406,800 Group |
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| 2023 £ (124,889) 153,691 (3,036) 9,586 - (100) (9,617) (35,681) 2,952 160,118 153,025 (14,512) 3,036 (11,476) (9,586) (9,829) (19,415) 122,134 122,134 284,666 406,800 |
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Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2024
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 and the accounts of SMC have not been 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 2025 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. Budgets will continue to be prepared in view of wider financial circumstances. The trustees are confident that future balanced budgets will be possible 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.
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Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2024
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.
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Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2024
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 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 |
Unrestricted Funds Designated Funds Restricted Funds TOTAL FUNDS 2024 TOTAL FUNDS 2023 £ £ £ £ £ 547,500 - 18,428 565,928 392,827 669,548 - - 669,548 259,061 11,657 - - 11,657 15,537 130,308 - - 130,308 113,623 - - 606 606 1,816 1,359,013 - 19,034 1,378,047 782,864 7,166 - 60,187 67,353 69,774 4,955 - - 4,955 3,629 12,121 - 60,187 72,308 73,403 152,354 - - 152,354 124,352 359,144 - 169,030 528,174 649,730 13,500 - 95,117 108,617 41,823 6,638 - - 6,638 6,761 531,636 - 264,147 795,783 822,665 617 - - 617 100 4,430 - - 4,430 2,936 5,047 - - 5,047 3,036 145,713 - - 145,713 3,417 - - 277,397 277,397 282,477 - 1,013,761 1,013,761 637,587 - - 34,853 34,853 34,857 2,053,530 1,013,761 655,617 3,722,908 2,640,307 |
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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) Expenses Incurred on behalf of other SAINT Parishes Expenses on behalf of other SAINT Parishes 3(c) Trading Activities HCEL SJHT Total Consolidated Expenditure |
Unrestricted Funds Designated Funds Restricted Funds TOTAL FUNDS 2024 TOTAL FUNDS 2023 £ £ £ £ £ 265,398 - 143 265,541 327,507 90,697 - 1,200 91,897 114,837 57,804 - 8,542 66,346 118,062 41,164 - - 41,164 39,864 41,821 - 9 41,830 35,745 78,757 - 209,628 288,384 290,817 115,232 - - 115,232 87,964 (315) - 162,660 162,345 144,567 302,556 130 302,686 18,364 408,458 - 264 408,722 393,681 294,348 - 233 294,581 249,836 2,547 - 2,414 4,961 16,912 1,698,467 - 385,223 2,083,690 1,838,155 372,668 372,668 293,592 988,502 988,502 628,179 15,340 15,340 14,887 1,698,467 988,502 773,231 3,460,200 2,774,813 |
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Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2024
4 CONSOLIDATED ENTIITIES
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 Staff costs Depreciation Total Operating Expenditures Net Profit/(Loss) Retained in HCEL Distributions to the Parish of Hackney Accumulated (Loss) Brought Forward Non-Charitable Trading Reserves |
2024 2023 £ £ 89,063 56,182 924,494 577,237 203 4,168 1,013,761 637,587 20,691 4,347 39,500 25,720 4,864 2,449 813,314 539,149 105,243 51,023 4,890 5,491 988,502 628,179 25,259 9,408 - - (33,640) (43,049) (8,382) (33,640) |
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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 |
2024 2023 £ £ 34,800 34,800 53 57 34,853 34,857 1,396 276 4,944 5,611 25,200 25,200 9,000 9,000 40,540 40,087 (5,687) (5,229) 430,143 435,372 424,456 430,143 |
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Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2024
5 GOVERNANCE COSTS
The remuneration to the auditors for the audit of the 2024 accounts was £17,325. (2023: £15,000)
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|2024|2023|
|£|£|
|Wages and salaries (incl. PAYE)|1,203,462|873,232|
|Employers Social security costs|107,745|85,315|
|Employers Pension Costs|31,266|23,118|
|1,342,473|981,665|
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6 STAFF COSTS
During the year the PCC employed the full time equivalent ("FTE") of 31.2 people (2023: 25.3) and on the basis of actual number of people employed regardless of FTE the number of people employed in the year 35 (2023: 29). HCEL and SJHT did not have any direct employees in 2024 (2023:nil).
Two (2023: Two) employees earned in excess of £60,000 in the year 2024.
Total remuneration for key management personnel was £68,000 in the year. (2023: £68,000)
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.
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|7 RELATED PARTY TRANSACTIONS|2024|2023|
|£|£|
|Received from Hackney Parochial Charity|42,000|43,500|
|Received from St. John's Housing Trust as a grant|25,200|25,200|
|Receivable from Hackney Church Experiences Limted for services rendered and supplies|96,292|67,495|
|Receivable from Saint Music Collective Limited|15,839|15,475|
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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 2024 is £154,314 (2023: £119,125). There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.
In 2024, no 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
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|PCC|
|IT and|PCC|PCC|SJHT|HCEL|
|Computer|Furniture|Production|PCC|PCC|Leasehold|Furniture|
|Equipment|and Fixtures|Equipment|Vehicles|Subtotal|Property|and Fixtures|Total 2024|
|£|£|£|£|£|£|£|£|
|Cost at 1 January 2024|29,383|202,139|632,156|19,518|883,196|450,000|16,474|1,349,670|
|Additions during year|1,240|1,413|14,035|-|16,688|-|-|16,688|
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|Disposals during year|
|Cost at 31 December 2024|30,623|203,552|646,191|19,518|899,884|450,000|16,474|1,366,358|
|Depreciation at 1 January 2024|(22,363)|(175,530)|(609,548)|(9,007)|(816,448)|(32,250)|(11,584)|(860,282)|
|Charge for the year|(4,833)|(3,856)|(16,084)|(1,752)|(26,525)|(9,000)|(4,890)|(40,414)|
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|Disposals during year|
|Depreciation at 31 December 2024|(27,197)|(179,386)|(625,631)|(10,759)|(842,973)|(41,250)|(16,474)|(900,696)|
|Net Book Value at 1 January 2024|7,020|26,609|22,608|10,511|66,748|417,750|4,890|489,388|
|Net Book Value at 31 December 2024|3,426|24,167|20,559|8,759|56,911|408,750|0|465,662|
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Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2024
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 2024 Income Gains from Investments Expenditure At 31st December 2024 £ £ £ £ £ (793,846) 2,053,530 170 (1,729,035) (469,180) (793,846) 2,053,530 170 (1,729,035) (469,180) - - - 120 120 30,737 30,737 (33,640) 1,013,761 (988,502) (8,382) (2,784) 1,013,761 - (988,502) 22,475 51,300 76,822 (157,294) (29,172) 22,438 5,738 738 28,914 (49,000) - (49,000) - - - - 169 169 - 114,634 (94,762) 19,872 - 156,520 (79,721) 76,800 - 101,360 (52,241) 49,119 - 17,000 (17,000) - 564 - (564) - 3,450 3,450 7,216 31,179 (1,350) 37,045 (71,528) 111,361 (208,877) (169,044) 2,532 - (130) 2,402 - 293 (293) - 430,142 34,853 (40,540) 424,454 397,283 649,760 - (652,034) 395,008 49,000 49,000 42,800 25,200 68,000 91,800 - - 25,200 117,000 489,083 649,760 - (626,834) 512,008 (307,546) 3,717,051 170 (3,344,372) 65,303 |
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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 Ministrie 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 ev 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.
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Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2024
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 £ £ £ £ - - 408,750 408,750 56,912 - - 56,912 3,377 - - 3,377 535,085 206,948 96,136 838,168 (297,644) (281,132) - (578,776) (750,000) - (23,098) (773,098) (452,271) (74,184) 481,788 (44,667) Unrestricted Funds Designated Funds Restricted Funds Total £ £ £ £ 56,912 0 - 56,912 3,377 - - 3,377 510,460 120 35,572 546,152 (294,084) - - (294,084) (750,000) - (23,098) (773,098) (473,336) 120 12,474 (460,741) ` Group 2024 Group 2023 PCC 2024 PCC 2023 £ £ £ £ 13,017 16,803 13,017 16,803 - 35,001 - 35,001 15,839 15,475 15,839 15,475 66,215 38,036 65,509 38,036 162,954 108,926 40,542 24,623 - - 96,292 82,393 - - 20,647 - 58,844 37,559 17,989 37,559 316,870 251,800 269,835 249,891 10,740 12,006 10,590 12,006 10,740 12,006 10,590 12,006 |
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12 INVESTMENTS
HCEL and SJHT had no investments throughout 2024 (2023: nil). Amounts below represent Investments held by the PCC.
| Investments Activity CCLA - Home Mission Deposit Account CCLA - Investment Account CCLA - Investment Account Investments Activity CCLA - Home Mission Deposit Account CCLA - Investment Account CCLA - Investment Account |
Market Value as of 1 Jan 2024 Unrealised Gains on Investments Dividend and Interest Income Disposal Market Value as of 31 Dec 2024 £ £ £ £ £ 3,207 170 - - 3,377 64,011 - 561 (64,572) - 28,020 - 55 (28,075) - 95,237 170 617 (92,647) 3,377 Market Value as of 1 Jan 2023 Unrealised Gains on Investments Dividend and Interest Income Disposal 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 - 95,237 |
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The historic cost of investments is £53,052.
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Parochial Church Council of Hackney Church Notes to the Financial Statements For the year ended 31 December 2024
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 b) LIABILITIES: AMOUNTS FALLING DUE AFTER ONE YEAR Long Term Loan Loan - Stewardship |
2024 2023 £ £ 322,013 131,776 855 2,215 129,322 170,781 30,774 24,004 31,484 38,719 17,655 15,000 5,817 4,817 40,856 142,254 578,776 529,567 2024 2023 £ £ 750,000 1,000,000 23,098 33,210 773,098 1,033,210 Group Group |
2024 2023 £ £ 164,782 72,847 855 2,215 24,481 11,434 30,774 24,004 12,724 13,723 17,655 15,000 2,917 1,917 39,896 119,668 294,084 260,808 2024 2023 £ £ 750,000 1,000,000 23,098 33,210 773,098 1,033,210 PCC PCC |
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13(b) LIABILITIES: AMOUNTS FALLING DUE AFTER ONE YEAR
A long term drawdown facility was agreed with an unrelated party in late 2019. The amount of £1,000,000 was drawn in December 2019. During the year, in September 2024, £250,000 of this loan was converted into an unrestricted grant. £750,000 of this loan remained outstanding at the year end. In the following year, in August 2025, a further £250,000 of this loan was also converted into an unrestricted grant.
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