# **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| 2 ## **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 3 ## **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: ……………………….** 4 ## **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: - Held services on Maundy Thursday and Ascension Day and an annual Commemoration Service - • Ran a Lent Course: #LiveLent-Dust & Glory - Continued to run a drop-in, ‘Barney’s Café’, which has continued to grow, with new friendships formed - Continued a Food Pantry on Clapton Park - 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 5 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 ……………………………………………………………………………………………………………… 6 ## **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| 7 ## **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 ……………………………………………………………………………………………………………… 8 ## **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| 9 |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. 10 ## **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**| 11 ## **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.)_ 12 _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 13 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. 14