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2022-12-31-accounts

Charity registration number 1166071

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT JOHN THE APOSTLE & EVANGELIST, WATFORD

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees David Beesley (appointed 14 May 2023)
Jill Bennett
Thomas Cockburn (appointed 14 May 2023)
Robin Davis
Sophia Dunnicliffe
Alex Evans (appointed 22 May 2022)
Alexander Handley (resigned 14 May 2023)
Brian Handley (appointed 15 June 2023)
Wilfred Sabor (appointed 14 May 2023)
Susan Jermyn (resigned 14 May 2023)
Helen Langeveld (resigned 14 May 2023)
Jannice Mordue
John Graham Mordue (appointed 14 May 2023)
Jennifer Nickson
Liz Sheasby
Richard Southern (appointed 14 May 2023)
Rev David Stevenson (resigned 25 June 2023)
Robert Wildmore
Ruth Williams (resigned 4 August 2023)
Michael Willis (resigned 14 May 2023)
Charity number 1166071
Principal address Sutton Road
Watford
Hertfordshire
WD17 2QQ
Independent examiner Gary Howard FCA
Howard Wilson Chartered Accountants
36 Crown Rise
Watford
Hertfordshire
WD25 0NE

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7
Notes to the financial statements 8 - 21

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The Parochial Church Council members present their annual report and financial statements for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity's objects are promoting the whole Mission of the Church of England in the Ecclesiastical Parish of St John the Apostle and Evangelist, Watford.

Parochial Church Council of The Ecclesiastical Parish of St John’s the Apostle & Evangelist, Watford (PCC) and the Churchwardens have the responsibility of co-operating with the incumbent in promoting the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

The PCC is also responsible for the maintenance of St. John’s Church and Church Hall, Watford.

The PCC members have paid due regard to guidance issued by the Charity Commission in deciding what activities the PCC should undertake.

Achievements and performance

St John's Parish Church has been able to fully open up after the COVID pandemic. This has been a huge relief for the parishioners who have missed their regular routine and sense of community. The pandemic has been a challenging time for everyone, and we are grateful that we can resume our services and programs as we move forward.

We have reviewed our Mission Action Plan to move forward in parish and pastoral ministry. Our main focus is to serve the community by providing spiritual support and care, promoting social justice, and building relationships with the people we serve. We are determined to ensure that we are a vibrant, growing, and loving Christian community that is inclusive and welcoming to all.

The past year has seen us catching up on the weddings and baptisms that were postponed in 2021. Unfortunately, some of the weddings were lost to simple quiet registry office ceremonies, but we are hopeful that they will return to St John's in the future. We have seen a gradual increase in the number of baptisms, and this is a sign that people are seeking spiritual guidance and support in our parish.

We are pleased to report that we have seen an increased number of church attendance at Sunday Mass. The pandemic has brought us closer to God, and we are grateful for the opportunity to worship together once again. We have taken steps to ensure that our services are safe and accessible to everyone, including those who are vulnerable or have special needs. We have adapted our services to include online streaming, and this has helped to reach out to those who are unable to attend in person.

Although we no longer have Sunday School, the children are fully involved and engaged with the Eucharist with a full range of activities for them to engage with. This has proved to be a huge success, with many more children attending and being prepared for their first Holy Communion. We have also seen an increase in the number of children attending our programs and events, and this is a positive sign that we are engaging with the younger generation and fostering a sense of community and belonging.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Both Christmas and Easter were celebrated with great joy with full liturgical rites offered, and these were well attended. The pandemic has made us appreciate the importance of these religious festivals, and we are grateful for the opportunity to celebrate them together as a community. We have taken steps to ensure that our services are safe and accessible to everyone, including those who are vulnerable or have special needs. We have adapted our services to include online streaming, and this has helped to reach out to those who are unable to attend in person.

St John's annual Carols by Candlelight Service was sung with a packed church, and this was a great highlight. This is a special service that brings together the community in a spirit of joy and celebration. We are grateful to the choir and musicians who worked hard to make this a memorable event. The service was well received, and we look forward to hosting it again this year.

St John's Primary School is making full use of the church building for assemblies, retreat days for all year groups, and special events. We are pleased to have a close relationship with the school and to provide a safe and welcoming space for the students to learn and grow. We are also working with the school to promote the spiritual well-being of the students and to provide support and guidance as needed.

Although Messy Church has not started again, Chrissie and her team have started up a monthly Buddy Brunch, which is proving to be a great success for parish families and the wider community. This is a wonderful initiative bought from the people for the people to gently engage with God.

As we look to the future, we recognize that there is still work to be done in order to fully recover from the impact of the pandemic. While we have made great strides in re-opening the parish and welcoming back our congregation, there are still members of our community who have yet to return. We will continue to reach out to them and provide support in any way that we can.

One area where we see great potential for growth is in our youth ministry. Our decision to discontinue Sunday School was a difficult one, but we felt that it was necessary in order to focus our resources on more targeted programming for our children. The results have been extremely positive, with a significant increase in the number of children attending and participating in activities centred on the Eucharist. We are currently exploring new ways to engage and support our young people, including the possibility of launching a youth group.

Another area of focus for us is stewardship. We are extremely grateful for the support that we have received through the Parish Giving Scheme, which has helped to sustain us financially during the pandemic. However, we recognize the need for ongoing stewardship reviews and for all of our parishioners to reflect prayerfully on their planned giving. As the Bible tells us in 2 Corinthians 9:7;

"Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver."

We must all remember that giving to God is an act of worship and a way of expressing our gratitude for the blessings that we have received.

As we move forward, we will continue to review and update our Mission Action Plan in order to ensure that we are meeting the needs of our community and fulfilling our mission as a parish. We remain committed to providing a welcoming and inclusive environment for all who seek to join us in worship and fellowship, and we are confident that with the continued support of our congregation and community, we will be able to achieve our goals.

In closing, I would like to express my gratitude to the members of the Parish Parochial Council, the Standing Committee, and all of the individuals who have contributed to making St John's Parish Church such a vibrant and thriving community. Your dedication and hard work are truly appreciated, and it is a joy to serve alongside each and every one of you. As we continue our journey together, let us always remember that everything we do, think, and say is to the honour and glory of God.

Financial review

The results for the year reflect the easing of the limitations imposed by the Covid pandemic. The income for the year was £96,583, up by £20,163 on the previous year (2021: £76,420). Expenditure was down by £34,181 at £114,414 (2021: £148,595). This resulted in a deficit for the year of £21,966 compared to a deficit of £67,775 in 2021.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

The reserves carried forward at the year end were £694,881, of which £19,651 related to restricted funds and £2,269 related to endowment funds. The unrestricted funds includes an amount of £607,316 held as tangible fixed assets at the year end.

It is the policy of the PCC that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the PCC's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the PCC is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The constitution of the PCC is set out in the Parochial Church Councils (Powers) Measure 1956 as amended and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended).

The trustees who served during the year and up to the date of signature of the financial statements were: Rev David Stevenson (resigned 25 June 2023)

David Beesley (appointed 14 May 2023) Jill Bennett Thomas Cockburn (appointed 14 May 2023) Robin Davis Sophia Dunnicliffe Alex Evans (appointed 22 May 2022) Alexander Handley (resigned 14 May 2023) Brian Handley (appointed 15 June 2023) Susan Jermyn (resigned 14 May 2023) Helen Langeveld (resigned 14 May 2023) Jannice Mordue John Graham Mordue (appointed 14 May 2023) Jennifer Nickson Liz Sheasby Richard Southern (appointed 14 May 2023) Robert Wildmore Ruth Williams (appointed 22 May 2022, resigned 4 August 2023) Michael Willis (resigned 14 May 2023)

Members of the PCC are appointed at the Annual Parochial Church Meeting and serve for a period of three years.

The trustees' report was approved by the Board of Trustees.

Jennifer Nickson

Jennifer Nickson Churchwarden

28 April 2024

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

I report to the trustees on my examination of the accounts of Parochial Church Council (“PCC”) for the year ended 31 December 2022.

Responsibilities and basis of report

As members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the PCC’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the PCC has prepared accounts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Gary Howard FCA

Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 0NE

Dated: 29 April 2024

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

Current financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2022
2022
2022
Notes
£
£
£
Income and endowments from:
Giving
3
25,877
1,279
-
Charitable activities
4
6,587
-
-
Income from investments
5
59,255
-
-
Other income
6
3,585
-
-
Total income
95,304
1,279
-
Expenditure on:
Raising funds
7
20,621
-
-
Charitable activities
8
92,514
1,279
-
Total expenditure
113,135
1,279
-
Net gains/(losses) on investments
12
(3,836)
-
(299)
Net movement in funds
(21,667)
-
(299)
Fund balances at 1 January 2022
694,628
19,651
2,568
Fund balances at 31 December 2022
672,961
19,651
2,269		 Total
2022
£
27,156
6,587
59,255
3,585
96,583
20,621
93,793
114,414
(4,135)
(21,966)
716,847
694,881		 Total
2021
£
25,716
3,177
46,877
650
76,420
18,437
130,158
148,595
4,400
(67,775)
784,622
716,847

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Prior financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2021
2021
2021
Notes
£
£
£
Income and endowments from:
Giving
3
25,716
-
-
Charitable activities
4
3,177
-
-
Income from investments
5
46,877
-
-
Other income
6
650
-
-
Total income
76,420
-
-
Expenditure on:
Raising funds
7
18,437
-
-
Charitable activities
8
130,158
-
-
Total expenditure
148,595
-
-
Net gains/(losses) on investments
12
4,082
-
318
Net outgoing resources before transfers
(68,093)
-
318
Net movement in funds
(68,093)
-
318
Fund balances at 1 January 2021
762,721
19,651
2,250
Fund balances at 31 December 2021
694,628
19,651
2,568		 Total
2021
£
25,716
3,177
46,877
650
76,420
18,437
130,158
148,595
4,400
(67,775)
(67,775)
784,622
716,847

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
17
Investments
18
Cash at bank and in hand
Creditors: amounts falling due within
one year
19
Net current assets
Total assets less current liabilities
Capital funds
Endowment funds
21
Income funds
Restricted funds
22
Unrestricted funds
Designated funds
23
General unrestricted funds		 2022
£
7
29,180
66,880
96,067
(10,771)
609,417
63,544		 £
607,316
2,269
609,585
85,296
694,881
2,269
19,651
672,961
694,881		 2021
£
2,372
33,016
76,224
111,612
(8,348)
609,556
85,072		 £
611,015
2,568
613,583
103,264
716,847
2,568
19,651
694,628
716,847

The financial statements were approved by the Trustees on 28 April 2024

RIchard Southern Jennifer Nickson Richard Southern Jennifer Nickson PCC Lay Chair PCC Churchwarden

Jennifer Nickson

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

Parochial Church Council of the Ecclesiastical Parish of Saint John the Apostle & Evangelist, Watford is a charity registered in England and Wales, registered number 1166071.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Nil Furniture, fixtures, fittings and vestments 33% on reducing balance Computer & electrical equipment 50% on reducing balance Church items of beauty 10% on reducing balance

Freehold land and buildings are not depreciated as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets currently exceeds 50 years, so that depreciation charges would be immaterial.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

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 associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Giving

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Planned giving
25,877
-
Grants receivable
-
1,279
25,877
1,279		 Total
Unrestricted
funds
2022
2021
£
£
25,877
25,716
1,279
-
27,156
25,716		 Total
Unrestricted
funds
2022
2021
£
£
25,877
25,716
1,279
-
27,156
25,716
25,716

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

3
Giving
Planned giving:
Tax efficient planned giving
Collections at services
Collections at small groups
Other planned giving
All other giving and voluntary receipts
Other
Grants receivable for core activities
Energy Grant		 17,380
3,041
3,009
24
894
1,529
25,877
-
-		 -
-
-
-
-
-
-
1,279
1,279		 (Continued)
17,380
20,904
3,041
3,059
3,009
640
24
111
894
971
1,529
31
25,877
25,716
1,279
-
1,279
-		 (Continued)
17,380
20,904
3,041
3,059
3,009
640
24
111
894
971
1,529
31
25,877
25,716
1,279
-
1,279
-
25,716
-
-

4 Charitable activities

Charitable Charitable
activities activities
2022 2021
£ £
Community and social events 1,724 30
Statutory fees 979 464
Pilgrimage income 3,884 2,683
6,587 3,177

5 Income from investments

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Rental income 57,555 45,929
Interest receivable and dividends 1,700 948
59,255 46,877

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

6
7		 Other income
Unrestricted Unrestricted
funds
funds
2022
2021
£
£
Other income
3,585
650
Raising funds
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Raising funds
Direct costs of charitable & ancilliary trading
211
211
Rent collection, property repairs & maintenance charges
20,410
18,226
Raising funds
20,621
18,437		 Other income
Unrestricted Unrestricted
funds
funds
2022
2021
£
£
Other income
3,585
650
Raising funds
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Raising funds
Direct costs of charitable & ancilliary trading
211
211
Rent collection, property repairs & maintenance charges
20,410
18,226
Raising funds
20,621
18,437
18,437

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

8 Charitable activities

Church Church
Activities Activities
2022 2021
£ £
Staff costs 6,657 7,241
Depreciation and impairment 3,699 2,587
Clergy and staff training 424 765
Diocesan Parish Share 36,439 32,010
Major repairs and renewals - 51,636
Mission and evangelism 4,757 58
Running costs 20,479 22,020
Utilities 16,982 7,217
Pilgrimage costs 250 3,890
Governance costs 1,680 1,020
Charitable donations 2,426 1,714
93,793 130,158
Analysis by fund
Unrestricted funds 92,514 130,158
Restricted funds 1,279 -
93,793 130,158

Governance costs comprise payments to the independent examiner of £1,680 (2021 - £1,020).

9 Charitable donations

Church Church
Activities Activities
2022 2021
£ £
Charitable payments
College of St Barnabas 500 -
Grants to individuals 1,926 1,714
2,426 1,714

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

11 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Parish Administrator (part time) 1 1
Employment costs 2022 2021
£ £
Wages and salaries 5,874 5,735
Social security costs - 83
Other pension costs 783 1,423
6,657 7,241

The Parish Administrator, S Dunnicliffe also served as a trustee during the year.

The part-time Parish Administrator represents less than half of a full time equivalent.

There were no employees whose annual remuneration was more than £60,000.

12 Net gains/(losses) on investments

**Unrestricted ** Endowment Total Unrestricted Endowment Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Gain/(loss) on sale of
investments (3,836) (299) (4,135) 4,082 318 4,400

13 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

14 Tangible fixed assets

Furniture
Freehold
fixtures Computer &
land and fittings and
electrical
buildings
vestments
equipment
£
£
£
Cost
At 1 January 2022
600,000
33,579
4,776
At 31 December 2022
600,000
33,579
4,776
Depreciation and impairment
At 1 January 2022
-
22,944
4,396
Depreciation charged in the year
-
3,509
190
At 31 December 2022
-
26,453
4,586
Carrying amount
At 31 December 2022
600,000
7,126
190
At 31 December 2021
600,000
10,635
380		 Total
£
638,355
638,355
27,340
3,699
31,039
607,316
611,015

The PCC are of the opinion that the market value of the freehold land and buildings is not materially different to the figure shown in these accounts.

15 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 January 2022 2,568
Valuation changes (299)
At 31 December 2022 2,269
Carrying amount
At 31 December 2022 2,269
At 31 December 2021 2,568
16 Financial instruments
2022 2021
£ £
Carrying amount of financial assets
Instruments measured at fair value through profit or loss 29,180 33,016

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

17
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
18
Current asset investments
Unlisted investments
19
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
7
-
-
7
2022
£
29,180
2022
£
-
1,099
1,063
8,609
10,771		 2021
£
801
14
1,557
2,372
2021
£
33,016
2021
£
49
868
1,089
6,342
8,348

20 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £783 (2021 - £1,423).

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

21 Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Balance at Revaluations
Balance at		 Resources Balance at
1 January 2021 gains and
1 January 2022		 expended 31 December
losses 2022
£ £ £ £ £
Permanent endowments
Florence Harriet Forest Bequest 2,250 318 2,568 (299) 2,269
2,250 318 2,568 (299) 2,269

Florence Harriet Forest Bequest - A bequest; capital is to be maintained and income used for the church.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

22 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement Movement in funds Movement in funds
in funds
Balance at Incoming
Balance at		 Incoming Resources Balance at
1 January 2021 resources 1 January 2022 resources expended 31 December
2022
£ £ £ £ £ £
Organ 16,081 - 16,081 - - 16,081
Pentecost Gift 2,338 - 2,338 - - 2,338
Godley Play (School) 684 - 684 - - 684
Energy Fund - - - 1,279 (1,279) -
Miscellaneous Funds 548 - 548 - - 548
19,651 - 19,651 1,279 (1,279) 19,651

Organ

Monies donated for maintenance and repair of the Organ.

Pentecost Gift

Monies given at Pentecost for specific items or purposes.

Godley Play School

Funds raised to be spent on Godley Play in School.

Energy Fund

Grant to fund heating costs

Miscellaneous Funds

These are smaller funds with balances or movements of less than £500 during the period.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

23 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 January 2021
r
£
Ford Brothers Legacy
40,692
Choir Fund
8,590
Vicar's Discretionary Fund
1,980
Hall and House Valuation
600,000
651,262		 Incoming
esources
Resources
expended
Balance at
1 January 2022
r
£
£
£
-
(40,692)
-
-
-
8,590
700
(1,714)
966
-
-
600,000
700
(42,406)
609,556		 Incoming
esources
Resources
expended
Balance at
31 December
2022
£
£
£
-
-
-
-
-
8,590
1,787
(1,926)
827
-
-
600,000
1,787
(1,926)
609,417		 Incoming
esources
Resources
expended
Balance at
31 December
2022
£
£
£
-
-
-
-
-
8,590
1,787
(1,926)
827
-
-
600,000
1,787
(1,926)
609,417
609,417

Ford Brothers Legacy

Funds for refurbishment of the Church House at 38 Estcourt Road.

Choir Fund

Funds to support music and a Choir at St Johns.

Vicar's Discretionary Fund

Funds to be used to support charitable giving and meeting pastoral needs.

Hall and House Valuation

This fund is the amount of reserves represented by the Hall and House.

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

24 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Endowment
funds
2022
2022
2022
£
£
£
Fund balances at 31 December 2022 are
represented by:
Tangible assets
607,316
-
-
Investments
-
-
2,269
Current assets/(liabilities)
65,645
19,651
-
672,961
19,651
2,269		 Total Unrestricted
funds
Restricted
funds
Endowment
funds
2022
2021
2021
2021
£
£
£
£
607,316
611,015
-
-
2,269
-
-
2,568
85,296
83,613
19,651
-
694,881
694,628
19,651
2,568		 Total
2021
£
611,015
2,568
103,264
716,847

PCC OF ST JOHN THE APOSTLE & EVANGELIST, WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

25 Related party transactions

The Vicar (who is also a Trustee) only receives a 0.75 stipend for his role at St. John's, this is paid by the Diocese of St Albans.