2022-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of St Paul, Harringay

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ST PAUL HARRINGAY

Diocese of London

Report & Accounts 31 December 2022

Tandem Accounting Chartered Accountants 17 Heathville Road London N19 3AL

ST PAUL HARRINGAY

Report and Financial Statements 2022 Contents

	Page
Legal and administrative information	2
Report of the Parochial Church Council	3
Independent Examiner’s report to the Parochial Church Council	7
Statement of financial activities	8
Balance sheet	9
Notes to the financial statements	10

ST PAUL HARRINGAY

Legal and Administrative Information For the year ended 31 December 2022

Charity Name	The Parochial Church Council Of The Ecclesiastical Parish Of St Paul, Harringay.	The Parochial Church Council Of The Ecclesiastical Parish Of St Paul, Harringay.	The Parochial Church Council Of The Ecclesiastical Parish Of St Paul, Harringay.
Charity no	1196649 (from 18 November 2021)
Principal Address	St Paul Harringay, Wightman Road, London N4 1RW
The Governing	Parochial Church Council Powers Measure (1956) as amended and Church Representation
Document	Rules.
Objective	Promoting in the ecclesiastical parish the whole mission of the		Church.
Members of the	The Members of the PCC who served during the year or who were serving at the date of this
PCC	report were:
	Licensed clergy (ex officio)	The Revd. Peter Snow
	Churchwardens (ex officio)	D Marvalin Dyte
		David Unwin
	Deanery Synod	Olivia Unwin
	Representatives (ex officio)	Bethany Wingrove
	Elected	Bethany Burrow Atherton	(resigned 8 May 2022)
		Nicola Ferguson	(re-elected 8 May 2022
		Verona George
		Alastair Gill
		Virginia Gill	(re-elected 8 May 2022)
		David Harvey	(resigned 13 June 2022
		Emma Fox
		Brian Mak
		Alexander Wingrove
		Philip Bazire	(elected 8 May 2022)
		Marilyn Ajanaku	(co-opted 13 June 2022)

Key Management Those in charge of planning, directing, controlling, running and operating the Charity, including Personnel those members of staff who are the senior management personnel to whom the trustees have delegated significant authority or responsibility in the day-to-day running of the charity, are the members of the PCC.

Bankers Santander UK plc, 517 Green Lanes, London N4 1EB Barclays Bank plc, 62 High Road, Wood Green, London N22 6DH Independent Christine Cheung Poston ACCA Examiner Flat 48, Samford House Charlotte Terrace Islington, London N1 0JF

ST PAUL HARRINGAY

Report of the Parochial Church Council For the year ended 31 December 2022

St Paul Harringay (“the PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2022. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.

The PCC co-operates with the incumbent in promoting the whole mission of the Church within its Parish and beyond. It also has responsibility for the non-stipendiary staff and the maintenance of the church buildings.

1. Structure, Governance & Management

1.1 Trustees

The PCC is a body corporate with perpetual succession. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. The PCC co-opted one member in 2022 to fill a casual vacancy.

The PCC met 8 times during 2022 and discussed a wide variety of subjects, relating to finance, fabric, general administration, responsibility for keeping of the Electoral Roll, and making various decisions concerning the mission and ministry of St Paul’s. There were a few particularly significant areas of discussion throughout the year: setting a main mission statement to ‘go and make disciples’, setting strategic goals, appointing elders and churchwardens with defined leadership roles, discussing the possibility of complementarian oversight by the Bishop of Maidstone (now Ebbsfleet), and deciding how to respond to the Living in Love and Faith project.

1.2 Executive

The Standing Committee has the power to transact any business of the PCC between its meetings, subject to any directives given by the PCC, and in 2022 comprised of the churchwardens (of whom one was the vice-chair), secretary, treasurer and Priest in Charge.

1.3 Church Attendance

The Electoral Roll revised in preparation for the Annual Parish Church Meetings (APCM) held in April 2022 comprised of 92 members.

1 .4 Risk Management

The PCC’s primary concern and objective is the discipling of individuals for the glory of God. Whilst it is the PCC’s policy to trust wholly in the Lord that He will work out His purpose to this end, the church also acknowledges that it has a responsibility, both as individual Members and as a body of Members, for the identification and proper management of risks faced by the PCC in achieving its primary aim. The PCC has therefore assessed the major risks to which the PCC is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances. The PCC believes that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the church, it has established effective systems and procedures to mitigate those risks.

2. Activities, Strategies & the Public Benefit

The PCC has given due regard to the Charity Commissions’ guidance on public benefit. The PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:

•Sunday and midweek worship gatherings.

•Groups and courses to encourage growth, pastoral care and discipleship.
•The regular practice of the Occasional offices (baptisms, weddings and funerals) happening throughout the year.

•Outreach events happening throughout the year

The PCC is keen to offer a range of services during the week and over the course of the year that our community find both beneficial and spiritually fulfilling. For most of 2022 we provided two morning services on Sunday mornings: one being a more formal Holy Communion, the other being an informal Service of the Word with children’s activities. We stepped up the provision of a youth group for 11-18 year olds, which now runs fortnightly.

ST PAUL HARRINGAY

Report of the Parochial Church Council For the year ended 31 December 2022

We continued to run a Creche for 0-24 month old children, a Junior Church programme for 2-11s and also our preschoolers' outreach group. These are designed for children from the community to come and worship God. We joyfully appointed a Children and Youth Worker in September 2022.

Home groups continued to run in four locations, and are a crucial part of our discipleship. We also took on a new cohort of seven people for our Leadership Training programme. We baptised two adults and confirmed the faith of two more. We prepared several couples for marriage and hosted the weddings of two couples, all of whom are members of our church.

We opened our church building to mourners when HM Queen Elizabeth II died, and live-streamed the state funeral.

We ran a Christmas Carol Extravaganza in December, as well as a Candlelit Carols service. These were all well attended. Our door knocking team continued to operate, asking local people what they do and don’t like about Harringay, and offering prayer.

Our Mission Sub-Committee met twice to allocate support to evangelistic work, and our Buildings Committee met regularly to oversee the maintenance of our buildings. We also adopted a refreshed safeguarding policy.

In 2022 we renovated the toilets in our church hall. We rejuvenated the church hall yard with a soft surface, stepping stumps, benches and planters. We were also granted a faculty to fit a traversing wall to the church building, which was fitted in the autumn. We investigated the possibility of building work in the church hall stairwell, the church hall itself, and the church loft, but the PCC concluded that these were not immediate requirements. We received the report from the Quinquennial Inspection. We agreed plans for a new war memorial and successfully fundraised for it on Remembrance Sunday.

3. Financial Review

The PCC’s main sources of funding are the free will offerings of church members and others in attendance at church meetings, and income from the hiring out the church buildings.

3.1 Financial Activity and Financial Position

The Statement of Financial Activities and Balance Sheet can be found on pages 8 and 9 respectively. The Church’s reserves decreased by £45,070 (2021: Increased by £33,042) during the year. The balance sheet shows total net assets of £173,106 (2021: £218,176).

Included in total funds are amounts totalling £19,207 (2021: £75,317) which are restricted. These balances have either been raised for, and their use restricted to, specific purposes, or they comprise donations subject to donor-imposed conditions. Full details of these restricted funds can be found in note 9 to the accounts together with an analysis of movements in the year.

3.2 Reserves Policy

The PCC has examined the requirements for free reserves, i.e., those unrestricted funds not invested in tangible fixed assets. The PCC considers that, given the nature of the church’s work, free reserves should be equivalent to 3 months’ worth of routine expenditure, plus committed future expenditure on other projects, where funds permit. The PCC believes this provides sufficient flexibility to cover temporary shortfalls in income will allow the church to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2022 the church had net free reserves of £150,093 (2021: £138,429) as follows:

ST PAUL HARRINGAY

Report of the Parochial Church Council For the year ended 31 December 2022

Total reserves Less: restricted funds Less: fixed assets Free reserves Free reserves requirement: 3 months routine expenditure Other committed funds (including building project) Free reserves	2022	2021 £ 218,176 (75,317 (4,430	) )
	£

	173,106
	(19,207)
	(3,806)

		138,429
	150,093

		30,000 -

	30,000
	-

		30,000
	30,000

3.3 Investment Policy

The PCC is in the process of formulating an investment policy. Funds in excess of immediate working capital requirement are placed in a bank deposit account.

3.4 Grants Policy

The church has a Mission Support Group, who meets bi-annually, to decide how to allocate support in order to support evangelism locally, nationally and overseas. During 2022, they gave grants to 9 projects totalling £9,239 (2021: £8,753).

4. Plans for Future Periods

Our strategic goal going forwards is to see if we can grow sufficiently to start a new congregation, God willing, by July 2024.

5. Responsibilities of Trustees for the Financial Statements

The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the income and application of income of the charity for that period.

In preparing those financial statements, the PCC is required to:

select suitable accounting policies and apply them consistently.
observe the methods and principles of the Charities SORP
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.

The PCC is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. The PCC is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.

ST PAUL HARRINGAY

Report of the Parochial Church Council For the year ended 31 December 2022

6. Approval

The report of the PCC was approved by the PCC on 1 May 2023 and signed on its behalf by:

The Revd Peter Snow

ST PAUL HARRINGAY

Report of the Independent Examiner to the Parochial Church Council of St Paul Harringay For the year ended 31 December 2022

I report on the accounts of the St Paul Harringay for the year ended 31 December 2022, which are set out on pages 8 to 16.

Respective responsibilities of PCC and examiner

The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is my responsibility to:

examine the accounts (under section 145 of the 2011 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
to state whether particular matters have come to my attention.

Basis of independent examiners’ report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiners’ statement

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

accounting records were not kept in respect of the church as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2021 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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 accounts to be reached.

Christine Cheung Poston

1 May 2023

ST PAUL HARRINGAY

Statement of Financial Activities For the year ended 31 December 2022

Unrestricted Funds 2022 £ 152,528 3,132 29,775 2,709		Unrestricted Funds 2021 £ 121,001 88 27,564 1,192	Total 2021 £ 120,671 88 27,564 2,785
	Total
	2022
	£

	175,900
	3,132
	29,775
	3,029

188,144		149,845	151,108
	211,836

1,060 163,225 164,285 (12,819) 11,040 - - 11,040 142,859 153,899		18,161 111,326	18,161 113,656

	1,060
	243,027

		129,487	131,817
	244,087

		5,869	13,751

	(12,819)

		26,227	33,042
	(45,070)

		216 -	- -
	-
	-

		26,443 116,416	33,042 185,134
	(45,070)

	218,176

		142,859	218,176
	173,106

ST PAUL HARRINGAY

Balance Sheet As at 31 December 2022

Note Fixed Assets Tangible Assets 5 Investments 6 Current Assets Debtors 7 Cash At Bank And In Hand Creditors - Amounts Falling Due Within One Year 8 Net Current Assets Net Assets Represented by: Restricted Funds 9 Unrestricted Income Funds Total Funds	Unrestricted Funds 2022 £ 3,806 96,563 100,369 5,755 54,388 60,143 6,613 53,530 153,899 - 153,899 153,899	Restricted Funds 2022 £ - - 0 6,000 13,217 19,217 10 19,207 19,207 19,207 - 19,207			Total 2021 £ 4,430 109,382
			Total
			2022
			£

			3,806
			96,563

					113,812 9,593 97,878
			100,369

			11,755
			67,605

					107,471 3,107
			79,360

			6,623

					104,364
			72,737

					218,176
			173,106

					75,317 142,859


			19,207
			153,899

					218,176
			173,106

The financial statements were approved by the PCC on 1 May 2023 and signed on its behalf by:

Virginia Gill Treasurer

ST PAUL HARRINGAY

Notes to the Financial Statements For the year ended 31 December 2022

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of leasehold land and buildings and investments which are shown at market value.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members.

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

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received, and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

The income from trading activities includes rental income from the letting of church premises which is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.

Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.

Grants payable are payments made to third parties in furtherance of the PCC’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the PCC.
Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.

ST PAUL HARRINGAY

Notes to the Financial Statements For the year ended 31 December 2022

1. Accounting Policies (continued)

Tangible Fixed Assets

Consecrated Property and Moveable Church Furnishings

Consecrated land and benefice property such as the church building and vicarage is excluded the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Furniture, fittings and equipment. The cost of furniture, fittings and equipment, less any expected residual value, is depreciated on a straight line basis over the effective useful life of the asset, which has been estimated as three years.

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

ST PAUL HARRINGAY

Notes to the Financial Statements For the year ended 31 December 2022

2. Income

Unrestricted Funds 2022 £ Voluntary income Offerings and donations 152,239 Income tax reclaimed 289 Grants received - 152,528 Incoming resources from charitable activities Fees (net) 3,132 Other trading income Lettings 29,420 Fundraising 356 29,776 Investment income Bank Interest 7 Dividends 2,701 2,708 188,144	Restricted Funds 2022 £ - - 23,372 23,372 - - - 0 320 - 320 23,692				Total 2021 £ 100,309 20,362 -
			Total
			2022
			£


			152,239
			289
			23,372

					120,671 88 27,211 353
			175,900

			3,132


			29,420
			356

					27,564
			29,776

					- 2,785

			327
			2,701

					2,785
			3,028

					151,108
			211,836

3. Expenditure on Raising Funds

Fundraising costs Collecting Agent Fees Bookstall Associated with lettings: Repairs and maintenance Utilities Insurance Cleaning	Unrestricted Funds 2022 £ Restricted Funds 2022 £ 401 - 26 - 633 - - - - - - - - - 1,060 0				Total 2021 £ 522 - 115 10,894 3,348 908 2,374
			Total
			2022
			£

			401
			26
			633

			-
			-
			-
			-

					18,161
			1,060

ST PAUL HARRINGAY

Notes to the Financial Statements For the year ended 31 December 2022

4. Expenditure on Charitable Activities

Common Fund Vicar’s stipend quota Clergy expenses Church Life & Outreach Missionary & Charitable Giving Provision of Office & Support Provision of Buildings, Facilities & Equipment Depreciation Governance costs	Unrestricted Funds 2022 £ Restricted Funds 2022 £ 20,500 - 40,225 - 4,284 - 6,838 - 11,640 - 45,915 - 32,010 79,802 1,453 - 360 - 163,225 79,802	Unrestricted Funds 2022 £ Restricted Funds 2022 £ 20,500 - 40,225 - 4,284 - 6,838 - 11,640 - 45,915 - 32,010 79,802 1,453 - 360 - 163,225 79,802				Total 2021 £ 20,000 39,900 4,402 9,481 8,752 17,894 8,333 3,994 900 113,656
				Total
				2022
				£

				20,500
				40,225
				4,284
				6,838
				11,640
				45,915
				111,812
				1,453
				360


				243,027

4a Staff costs

Included within Expenditure on Charitable Activities are the following staff costs:

Gross salaries Statutory Maternity Credit Employers National Insurance Employment Allowance Employer pension contributions Of which the following gross salaries were in relation to Key Management Personnel (and related parties)		2022		2021 £ 14,511 - 378 (378) 573
		£

		41,106
		(5,071)
		2,182
		(2,182)
		687

				15,084
		36,722

				-

		-

The average number of employees during the year was 2 (2021: 2). No employee received emoluments in excess of £60,000 during the year.

ST PAUL HARRINGAY

Notes to the Financial Statements For the year ended 31 December 2022

5. Tangible Fixed Assets

Cost/valuation At 1 January 2022 Additions Disposals At 31 December 2022 Depreciation At 1 January 2022 Charge for Year Disposals At 31 December 2022 Net Book Value At 31 December 2022 At 31 December 2021	Fixtures	Fixtures
	fittings &
	equipment
		£

		17,878
		829
		-

		18,707


		13,448
		1,453
		-

		14,901


		3,806

		4,430

The PCC does not have any properties of its own. The following properties belong to the Diocese.

Church Buildings St Paul’s Church Maintained by the PCC Vicarage St Paul’s Church House Maintained by the Diocese Other accommodation St Paul’s Church Hall Maintained by the PCC

6. Fixed Asset Investments

Central Board of Finance Investment Fund Shares: At 1 January Additions Disposals/redemptions Net (losses)/gains on revaluation At 31 December		2022		2021 £ 95,631 - - 13,751
		£


		109,382
		-
		-
		(12,819)

				109,382
		96,563

ST PAUL HARRINGAY

Notes to the Financial Statements For the year ended 31 December 2022

7. Debtors

Grant Receivable Gift Aid Receivable Other debtors		2022		2021 £ - - -
		£

		6,000
		1,428
		4,327

				0
		11,755

8. Creditors - Amounts Falling Due Within One Year

Accruals Other creditors		2022		2021 £ 900 2,207
		£

		2,310
		4,313

				3,107
		6,623

9. Restricted Funds

9a. Current year Organ Fund Lent appeal Maintenance Reserve Fund Brain Charity Peachey Internment Play Area Unicef Vicarage Upgrade	At 1 January 2022 £ 17,698 119 56,430 45 1,000 0 25 0 75,317	At 1 January 2022 £ 17,698 119 56,430 45 1,000 0 25 0 75,317	Income £ Expenditure £ Transfers £ 320 - - - - - - (56,430) - - - - - - - 17,372 (17,372) - - - - 6,000 (6,000) - 23,692 (79,802) 0	Income £ Expenditure £ Transfers £ 320 - - - - - - (56,430) - - - - - - - 17,372 (17,372) - - - - 6,000 (6,000) - 23,692 (79,802) 0	Income £ Expenditure £ Transfers £ 320 - - - - - - (56,430) - - - - - - - 17,372 (17,372) - - - - 6,000 (6,000) - 23,692 (79,802) 0	Income £ Expenditure £ Transfers £ 320 - - - - - - (56,430) - - - - - - - 17,372 (17,372) - - - - 6,000 (6,000) - 23,692 (79,802) 0	Gains/ (losses) £ - - - - - - - - 0	At 31	At 31
								December
									2022
									£

									18,018
									119
									0
									45
									1,000
									0
									25
									0


									19,207

ST PAUL HARRINGAY

Notes to the Financial Statements For the year ended 31 December 2022

9. Restricted Funds (continued)

9b Prior year Organ Fund Lent appeal Maintenance Reserve Fund Brain Charity Peachey Internment Undercroft project Children’s Society Unicef	At 1 January 2021 £ 16,921 119 50,204 0 1,000 400 74 0 68,718	At 1 January 2021 £ 16,921 119 50,204 0 1,000 400 74 0 68,718	Income £ Expenditure £ Transfers £ 167 - (216) - - - 1,426 (2,256) - 45 - - - - - (400) - - - (74) - 25 - - 1,263 (2,330) (216)	Income £ Expenditure £ Transfers £ 167 - (216) - - - 1,426 (2,256) - 45 - - - - - (400) - - - (74) - 25 - - 1,263 (2,330) (216)	Income £ Expenditure £ Transfers £ 167 - (216) - - - 1,426 (2,256) - 45 - - - - - (400) - - - (74) - 25 - - 1,263 (2,330) (216)	Income £ Expenditure £ Transfers £ 167 - (216) - - - 1,426 (2,256) - 45 - - - - - (400) - - - (74) - 25 - - 1,263 (2,330) (216)	Gains/ (losses) £ 826 - 7,056 - - - - - 7,882	At 31	At 31
								December
									2021
									£

									17,698
									119
									56,430
									45
									1,000
									0
									0
									25


									75,317

Descriptions of the main restricted funds are as follows:

Organ Fund. Funds raised specifically for the maintenance of the church organ.

Maintenance Fund. Funds settled for the maintenance of the church building.

Maintenance Reserve Fund. Funds settled for the maintenance of the church building.

Undercroft project. Funds received for the project to develop the church’s undercroft.

Ministry Trainee Fund. Funds received from another church to contribute towards the cost of a ministry trainee.

10. Related Party Transactions and Balances

Expenses totaling £nil (2021: £229) were either reimbursed to or paid on behalf of members of the PCC during the year.

Bethany Burrow Atherton, a member of the PCC, received £2,000 (2021: £2,770) in relation to her services as organist during the year.

During the year members of the PCC made unrestricted offerings and donations to the church of £85,690 (2021: £51,557).