Parish of St Barnabas Homerton Diocese of London
Financial Statements at 31[st] December 2023
CONTENTS
| Page | 3 | Legal and Administrative Information |
|---|---|---|
| Page | 4 | Independent Examiner's Report to the Trustees |
| Page | 5 | Review of the Year |
| Page | 7 | Receipts & Payments account |
| Page | 8 | Statement of Assets & Liabilities |
| Page | 9 | Analysis of Receipts & Payments |
| Page | 11 | Fund Movement by Type |
| Page | 12 | Notes to the Accounts |
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PARISH OF ST BARNABAS HOMERTON DIOCESE OF LONDON
LEGAL AND ADMINISTRATIVE INFORMATION
PARISH ADDRESS Parish Office St Barnabas Church Homerton High Street London E9 6DL PCC MEMBERS Priest-in-charge Rev Al Gordon Assistant Curate Rev Toby Thomas Wardens Roy Olowu Valerie Roach Deanery Synod Anthony Kwegan Licensed Lay Ministers Veronica Sharpe Carol Maynard Roy Olowu Catherine Grannum Jenny Brailsford (PTO) Elected members Catherine Armstrong Hulith Clarke to 6.5.23 Grantly Maynard May Milton to 6.5.23 Jim Odobill Merryl Onwudiwe to 6.5.23 Yvonne Sired Emmanuel Sodipo CHARITABLE STATUS Registered Charity no: 1186331 Registered with the Charity Commission BANKERS HSBC Bank PLC 1-3 Bishopsgate London EC2N 3AQ INDEPENDENT EXAMINER Leon Edwards 10 Romulus way Fairfields Milton Keynes MK11 4AZ
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LEON EDWARDS ACCOUNTANTS
Member of the Certified Public Accountants Association
Report
To: Veronica Sharpe
From: Leon Edwards Date: Thursday 18[th] July 2024
Subject: Review of 2023 Parish of St Barnabas Homerton Annual Accounts
Introduction
The report is to reflect on the review of the accounts. To highlight any transactions where description or monetary amounts may not reflect true and fair view of relevant income or expense. I will be analysing the trial balance to focus on any material expense figures that may seem too high or not reflect true. Also focusing on the amounts that are significantly different from the average cost under each expense heading.
I will be analysing the trial balance to focus on consistency of recording various income under the correct heading. This will involve reviewing the description of income under each income heading. Finally I will then compare the current year to last year to look for any material increase or decrease in income and expenses.
Summary
After reviewing the trial balance and Income and Expenditure comparison, I am satisfied that reasonable care and attention have been made
.
Overall, the accounts show a true and fair view of period 2023.
There are no recommendations to make as I am satisfied with the data entry.
Report Prepared by: Leon Edwards, BA Hons Accounting, ACPA ACPA Membership Number 07304016A
Date: Thursday 18[th] July 2024
Signed: ……………………….
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Parochial Church Council of St Barnabas Homerton Annual review for the year ended 31 December 2023
Aims and purposes
St Barnabas Homerton PCC has the responsibility of co-operating with the Priest-in-charge, the Rev Al Gordon, and the Assistant Curate, Rev Toby Thomas, in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelical, social and ecumenical. The parish is currently undergoing a trial partnership with the SAINT group of churches, to be reviewed in the summer of 2025.
Objectives and activities
When planning activities for the year, the incumbent and the PCC have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, they try to enable ordinary people to live out their faith as part of the parish community through worship and prayer and service, learning about the Gospel, and the provision of pastoral care for people living in the parish.
Achievements and performance
The Parish of St Barnabas comprises St Barnabas as the parish church and The Church of the Risen Christ in Clapton Park as a parish Centre of Worship. There is also a chapel within the Wally Foster Centre on Kingsmead which is not currently in use but which is also a parish Centre of Worship. The total Electoral Roll for the parish in April 2023 was 150.
During the last year, both churches have continued to hold Sunday services, with joint services for some major church festivals.
Young people’s groups have continued at St Barnabas during the year, with Kids Club meeting for 3 – 11s in two groups, and with Pathfinders restarted last autumn with help from additional volunteers across the parish.
Some weekday and monthly meetings for adult fellowship and discipleship have been continued, namely weekly Bible Study Groups on Zoom, a weekly Men’s Fellowship group meeting for prayer, and a weekly parish prayer meeting – both also on Zoom.
During the last year, in addition to the regular church services and activities of each church, the parish:
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Held services on Maundy Thursday and Ascension Day and an annual Commemoration Service
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• Ran a Lent Course: #LiveLent-Dust & Glory
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Continued to run a drop-in, ‘Barney’s Café’, which has continued to grow, with new friendships formed
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Continued a Food Pantry on Clapton Park
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Welcomed school groups into our church building to explore curriculum topics
The parish aims to give generously to other organisations involved in mission in the UK and overseas, and involved in humanitarian relief and development work. This is done through the giving of each of the churches in the parish. Due to changes in the parish following an interregnum after the retirement of the previous incumbent, this was very limited this year. The parish relies upon the voluntary work of many
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people within the churches, and the PCC greatly appreciates their service to the church and the local community.
Financial review
Total receipts on unrestricted funds in 2023 amounted to £78,971. Expenses on unrestricted funds were £80,847. The net result for the year was a deficit of £1,875 on the unrestricted funds, adequately covered by reserves.
The Common Fund contribution was £31,000.
Restricted income was £64,252.
Church funds at the end of the year stood at £1,408,093 including £1,239,205 (restricted funds), £ 62,928 (designated funds) and £105,059 (unrestricted funds).
Structure, governance and management
The method of appointment of PCC members is set out in the Church Representation Rules. The membership of the PCC comprises the Vicar and other clergy, churchwardens, LLMs, ex officio members, 6 members from St Barnabas, 3 members from The Risen Christ & All Souls, elected by those members of the congregation who are on the electoral roll of the church. All those who attend services and members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC.
The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. The full PCC normally meets 5 or 6 times a year.
Reference and Administrative Information
The Parish of St Barnabas Homerton is part of the Diocese of London within the Church of England. The correspondence address is Parish Office, St Barnabas Church, Homerton High Street, London E9 6DL. The PCC is registered with the Charity Commission of England & Wales, registration no. 1186331
22/10/2024
Signed on their behalf by:
……………………………………………………………………………………………………………….
Print name and position
Al Gordon, Rector ………………………………………………………………………………………………………………
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Receipts and Payments Account
| Unrestricted Designated Restricted Endowment Total Prior year funds funds funds funds funds total funds |
|
|---|---|
| Receipts Donations and legacies Income from charitable activities Investments Other income Total receipts Payments Raising funds Expenditure on charitable activities Other expenditure Total payments Excess of receipts over payments before transfer Transfers Excess of receipts over payments before other gains / losses Net movement in funds All assets at 01 January 2023 All assets at 31 December 2023 Represented by Unrestricted General fund Designated Current fabric Special fabric Restricted AV system Administrative assistant salary Brian Mann Healing Fund CCLA St Barnabas capital fund Food Pantry Forever Young Grocers' incumbent grant HPC Ministers' Discretionary Fund Larder Parish Women (HM Women) Pathfinder activities Replacement church chairs Safe House project Support Fund |
54,292 201 5,201 — 59,695 66,700 960 — — — 960 6,993 — — 53,050 — 53,050 7041 23,719 — 6,000 — 29,719 54,770 |
| 78,971 201 64,252 — 143,425 129,168 190 — — — 190 492 37,587 — 10,407 — 47,995 50,808 43,069 — 5,888 — 48,958 59,667 |
|
| 80,847 — 16,296 — 97,143 110,968 |
|
| (1,875) 201 47,955 — 46,281 18,200 |
|
| (1,875) 201 47,955 — 46,281 — |
|
| (1,875) 201 47,955 — 46,281 — |
|
| 107,835 62,726 1,191,249 — 1,361,812 1,361,812 |
|
| 105,959 62,928 1,239,205 — 1,408,093 1,361,812 105,959 — — — 105,959 107,835 — 6,213 — — 6,213 6,063 — 56,714 — — 56,714 56,662 — — 41 — 41 41 — — 327 — 327 327 — — 7,003 — 7,003 6,355 — — 1,222,959 — 1,222,959 1,170,617 — — 741 — 741 226 — — 156 — 156 156 — — 530 — 530 2,086 — — 3,332 — 3,332 2,472 — — 22 — 22 22 — — 67 — 67 67 — — 374 — 374 784 — — 52 — 52 52 — — 3,157 — 3,157 7,481 — — 439 — 439 559 |
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Statement of assets and liabilities
| This year Last year |
|
|---|---|
| Cash at bank and in hand Parish current account AV system (Restricted) - Administrative assistant salary (Restricted) - Agency collection (Restricted) - Current fabric (Designated) - Food Pantry (Restricted) - Forever Young (Restricted) - General fund (Unrestricted) - Grocers' incumbent grant (Restricted) - HPC Ministers' Discretionary Fund (Restricted) - Larder (Restricted) - Parish Women (HM Women) (Restricted) - Pathfinder activities (Restricted) - Replacement church chairs (Restricted) - Safe House project (Restricted) - Special fabric (Designated) - Support Fund (Restricted) - Brian Mann Healing a/c Brian Mann Healing Fund (Restricted) - Total for Cash at bank and in hand Investments CCLA St Barnabas capital CCLA St Barnabas capital fund (Restricted) - Total for Investments Agency accounts Agency collections Agency collection (Restricted) - Total for Agency accounts Grand total |
41 41 327 327 19 — 6,213 6,063 741 226 156 156 105,959 107,835 530 2,086 3,332 2,472 22 22 67 67 374 784 52 52 3,157 7,481 56,714 56,662 439 559 |
| 178,150 184,839 7,003 6,355 |
|
| 7,003 6,355 |
|
| 185,153 191,194 1,222,959 1,170,617 |
|
| 1,222,959 1,170,617 |
|
| 1,222,959 1,170,617 (19) — |
|
| (19) — |
|
| 1,408,093 1,361,812 |
22/10/2024
Approved by the PCC on (date) ……………………………………………………………
Signed on their behalf by:
……………………………………………………………………………………………………………….
Print name and position
Al Gordon, Rector
………………………………………………………………………………………………………………
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Analysis of receipts and payments
| Unrestricted Designated Restricted Endowment INCOME AND ENDOWMENTS Donations and legacies Gift Aid - bank 21,290 — — — Gift Aid - envelopes 6,781 — — — Gift Aid - PGS 4,800 — — — Other planned giving 17,836 — 30 — Loose plate (cash) collections 2,989 — — — Donations & appeals 596 201 5,171 — Total 54,292 201 5,201 — Income from charitable activities Fees for weddings & funerals 960 — — — Total 960 — — — Investments Dividends — — 53,050 — Total — — 53,050 — Other income Tax recoverable on Gift Aid & GASDS 1,200 — — — Recurring grants — — 6,000 — Funds from use of church 20,944 — — — Donations from parking 1,575 — — — Total 23,719 — 6,000 — |
Unrestricted Designated Restricted Endowment |
Total This year Last year 21,290 21,140 6,781 7,930 4,800 4,800 17,866 18,838 2,989 2,421 5,968 11,555 |
|---|---|---|
| 54,292 201 5,201 — 960 — — — |
59,695 66,684 960 3,754 |
|
| 960 — — — — — 53,050 — |
960 3,754 53,050 —1 |
|
| — — 53,050 — 1,200 — — — — — 6,000 — 20,944 — — — 1,575 — — — |
53,050 — 1,200 13,7842 6,000 8,000 20,944 24,906 1,575 2,387 |
|
| 23,719 — 6,000 — |
29,719 49,077 |
|
| INCOME TOTAL | 78,971 201 64,252 — |
143,425 243,573 |
| EXPENDITURE | ||||||
|---|---|---|---|---|---|---|
| Raising funds | ||||||
| Event costs - eg sales, fetes, etc | 190 | — | — | — | 190 | 492 |
| Total | 190 | — | — | — | 190 | 492 |
| Expenditure on charitable activities | ||||||
| Stewardship campaign costs | 193 | — | — | — | 193 | 199 |
| Giving - missionary societies | 1,038 | — | — | — | 1,038 | 475 |
| Giving - relief & development | 950 | — | — | — | 950 | 3,855 |
| agencies | ||||||
| Giving - home mission | 858 | — | — | — | 858 | 1,488 |
| Special gifts | 1,060 | — | 250 | — | 1,310 | 1,152 |
| HPC Ministers' discretionary grants | — | — | 5,139 | — | 5,139 | 4,400 |
| Support Fund grants | — | — | 200 | — | 200 | — |
| Common Fund | 31,000 | — | — | — | 31,000 | 29,000 |
| Education - teenage | 252 | — | — | — | 252 | 252 |
| Parish training & mission | 372 | — | 566 | — | 939 | 4,577 |
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| Food Pantry expenses Parish Mission - Barney's Cafe Organ/piano tuning Catering Upkeep of services Parish office - software/IT Total Other expenditure Assistant staff costs Salary - parish administrator Administrator salary admin costs Incumbent working expenses Parsonage house expenses St B vicarage electricity St B vicarage gas Church insurance Church maintenance Cleaning Administration Parish office costs Parish office costs - copier Parish office costs - stationery Computer & IT (hardware/software) Honoraria Electricity - church Gas - church Water - church Waste bin hire - church Miscellaneous Total |
— — 4,182 — 97 — — — 363 — — — 482 — — — 721 — 69 — 197 — — — |
4,182 2,812 97 — 363 338 482 224 791 413 197 — |
|---|---|---|
| 37,587 — 10,407 — 420 — — — 9,273 — — — 642 — — — 41 — 557 — 1,610 — — — 255 — — — 1,010 — — — 7,395 — 96 — 5,635 — — — 604 — — — 4,281 — 404 — 1,507 — — — 1,381 — — — 315 — — — 116 — 509 — 945 — — — 2,797 — — — 4,229 — — — 472 — — — 133 — — — — — 4,321 — |
47,995 49,185 420 38 9,273 8,832 642 467 599 813 1,610 826 255 — 1,010 — 7,491 6,863 5,635 14,042 604 368 4,686 3,124 1,507 1,673 1,381 1,184 315 853 625 929 945 —3 2,797 1,426 4,229 3,781 472 420 133 123 4,321 — |
|
| 43,069 — 5,888 — |
48,958 45,762 |
|
| EXPENDITURE TOTAL | 80,847 — 16,296 — |
97,143 95,439 |
| GRAND TOTAL | (1,875) 201 47,955 — |
46,281 148,134 |
Notes to the Analysis
1 Dividends for the previous year are shown for the Brian Mann Fund only. Dividends for this year include the CCLA capital fund, accounting for the large difference in the figures shown.
- 2 Shows Gift Aid reclaimed through PGS only. A claim for Gift Aid/GASDS is in preparation.
3 This represents payment to a member of the congregation for cleaning. The Finance Committee agreed that subsequent payments should simply be recorded under ‘cleaning’. This is shown for transparency.
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Fund movement by type
Opening Incoming Outgoing Transfers Gains/losses Journals Closing
| ADMINASS - Administrative assis Restricted Sub-total for ADMINASS AVsystem - AV system Restricted Sub-total for AVsystem CCLA - CCLA St Barnabas cap Restricted Sub-total for CCLA CFabric - Current fabric Designated Sub-total for CFabric Chairs - Replacement church c Restricted Sub-total for Chairs FYoung - Forever Young Restricted Sub-total for FYoung FoodPantry - Food Pantry Restricted Sub-total for FoodPantry General - General fund Unrestricted Sub-total for General Grocers - Grocers' incumbent g Restricted Sub-total for Grocers HPC - HPC Ministers' Discr Restricted Sub-total for HPC Healing - Brian Mann Healing F Restricted Sub-total for Healing Larder - Larder Restricted Sub-total for Larder Pathfinder - Pathfinder activitie Restricted Sub-total for Pathfinder SafeHouse - Safe House project Restricted Sub-total for SafeHouse SpFabric - Special fabric Designated Sub-total for SpFabric Support - Support Fund Restricted Sub-total for Support Women - Parish Women (HM Wom Restricted Sub-total for Women Grand total |
327 — — — — |
— 327 |
|---|---|---|
| 327 — — — — 41 — — — — |
— 327 — 41 |
|
| 41 — — — — 1,170,617 52,342 — — — |
— 41 — 1,222,959 |
|
| 1,170,617 52,342 — — — 6,063 150 — — — |
— 1,222,959 — 6,213 |
|
| 6,063 150 — — — 52 — — — — |
— 6,213 — 52 |
|
| 52 — — — — 156 — — — — |
— 52 — 156 |
|
| 156 — — — — 226 4,696 4,182 — — |
— 156 — 741 |
|
| 226 4,696 4,182 — — 107,835 78,971 80,847 — — |
— 741 — 105,959 |
|
| 107,835 78,971 80,847 — — 2,086 — 1,556 — — |
— 105,959 — 530 |
|
| 2,086 — 1,556 — — 2,472 6,000 5,139 — — |
— 530 — 3,332 |
|
| 2,472 6,000 5,139 — — 6,355 708 60 — — |
— 3,332 — 7,003 |
|
| 6,355 708 60 — — 22 — — — — |
— 7,003 — 22 |
|
| 22 — — — — 784 — 410 — — |
— 22 — 374 |
|
| 784 — 410 — — 7,481 424 4,747 — — |
— 374 — 3,157 |
|
| 7,481 424 4,747 — — 56,662 51 — — — |
— 3,157 — 56,714 |
|
| 56,662 51 — — — 559 80 200 — — |
— 56,714 — 439 |
|
| 559 80 200 — — 67 — — — — |
— 439 — 67 |
|
| 67 — — — — |
— 67 |
|
| 1,361,812 143,425 97,143 — — |
— 1,408,093 |
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Parish of St Barnabas Homerton Notes to the Financial Statements for the year ended 31st December 2023
Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities Act 2011, section 133 on the receipts & payments basis.
The parish is a registered charity, registration number 1186331, and the Trustees are the members of the PCC named on page 3.
Fund accounting
PCC funds are required to be analysed under specific headings, as follows:
General funds represent the ‘free’ funds of the PCC that are not subject to any restriction regarding their use and are available for application for the general purposes of the PCC. These are held by the different churches and parish as shown below:
Church of the Risen Christ £ 33,292 St Barnabas £ 66,509 Parish general fund £6,157 Total general funds £105,959
Designated funds are earmarked by the PCC for specific purposes but are nevertheless still unrestricted as the PCC can reassign the funds if it wishes. Designated funds held by the different churches and parish are shown below:
St Barnabas
Current fabric fund £ 6,213 Special fabric fund £56,714 Total designated funds £62,927
Restricted funds are funds collected or donated for a purpose and cannot be used by the PCC for any other purpose except by agreement with the donor. Restricted funds held by the different churches and parish are shown below:
Church of the Risen Christ
Forever Young £ 156 SafeHouse project £3,157
4 Balance to be transferred to SafeHouse
( SafeHouse is not a fund of the Church of the Risen Christ but is shown in these accounts for transparency as the project began its life from this church and, although registered now as a social enterprise, has only just opened its own bank account.)
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St Barnabas Larder £ 22 Pathfinder activities £ 374 Sound/AV system £ 41 Support Fund £ 439
Parish
Brian Mann Healing fund £ 7,003 Grocers’ incumbent grant £ 530 Minister’s HPC discretionary £ 3,332 Admin assistant salary £ 327 Parish Women’s activities £ 67 Total restricted funds £15,448
Investments
St Barnabas
CCLA £1,158,730
This is held through CCLA, which is governed by the Central Board of Finance of the Church of England. It is not held within church funds. This capital fund is restricted for the use of St Barnabas in order to fund the building or installation of additional facilities in a new church centre for St Barnabas.
The funds of the PCC have been appropriately analysed, and these statements have been prepared in accordance with this analysis.
Tax status
As a charity, the PCC is exempt from paying income and corporation tax but does have to pay value added tax.
Staff costs & numbers
The Parish of St Barnabas Homerton employed 1 member of staff during this financial period.
Payments to PCC/DCC members
No payments were made to PCC/DCC members or any persons connected with them during this financial period other than necessary expenses reclaimed. No material transaction took place between the charity and a PCC/DCC member but the son of a PCC member, a qualified electrician with his own business, was engaged for work on several occasions during the year.
Risk assessment
The Trustees actively review the major risks which the charity faces on a regular basis and believe their reserves stated, combined with an ongoing review by the Finance Committee of the
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controls over key financial systems, will provide sufficient resources in the event of adverse conditions.
Reserves policy
The Trustees have considered the level of reserves they wish to retain appropriate to the charity’s needs. This is based on the charity’s size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
Public benefit
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for the public benefit. Details of how the charity has achieved this are provided in the Annual Report (page 6). The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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