2023-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of St Paul, Harringay

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The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Diocese of London

Report & Accounts 31 December 2023

Tandem Accounting Chartered Accountants 17 Heathville Road London N19 3AL

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Report and Financial Statements 2023 Contents

	Page
Legal and administrative information	2
Report of the Parochial Church Council	3
Independent Examiner’s report to the Parochial Church Council	6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Legal and Administrative Information For the year ended 31 December 2023

Charity Name	The Parochial Church Council Of The Ecclesiastical Parish Of St	The Parochial Church Council Of The Ecclesiastical Parish Of St	Paul, Harringay.
Charity no	1196649 (from 18 November 2022)
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	Marvalin Dyte
	officio)	David Unwin
	Deanery Synod	Olivia Unwin (resigned	7 May 2023)
	Representatives (ex	Kathryn Freeland (elected 7 May 2023, resigned 12 Sept 2023)
	officio)	Bethany Wingrove (resigned	7 May 2023)
		Brian Mak (elected 7 May 2023)
	Elected	Marilyn Ajanaku (elected 7 May 2023)
		Philip Bazire (resigned	1 November 2023)
		Nicola Ferguson
		Emma Fox (term ended 7 May 2023)
		Verona George
		Ellie Gomola (co-opted 2 July 2023)
		Alastair Gill (re-elected 7 May 2023)
		Virginia Gill
		Wing-Yen Li (co-opted 11 September 2023)
		Alexander Wingrove

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 Examiner Flat 48, Samford House Charlotte Terrace Islington, London N1 0JF

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Report of the Parochial Church Council For the year ended 31 December 2023

St Paul Harringay (“the PCC”) submits its report and the financial statements of the The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay for the year ended 31 December 2023. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)). 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 two members in 2023 to fill a casual vacancies.

The PCC met 7 times during 2023 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 new vision to love Jesus, love neighbour, grow disciples and plant churches , putting on a mission week, discussing the Church of England’s Prayers of Love and Faith and our response to it, gender and ministry, and staff performance reviews.

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 2023 comprised of the churchwardens, 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 May 2023 comprised of 100 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

Our YouTube livestream continues to extend our reach a little, and in 2023 we set up a podcast so sermons can be listened to more easily.

The PCC is keen to offer a range of services during the week and over the course of the year that our community finds both beneficial and spiritually fulfilling. For most of 2023 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 continued to offer a fortnightly youth group for 11-18 year olds, and we re-booted a creche for 0-24 month old children. Our pre-schoolers'

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Report of the Parochial Church Council For the year ended 31 December 2023

outreach group was regularly at capacity.

Home groups continued to run in three locations and are a crucial part of our discipleship. We also started a new introductory Bible study, which saw significant growth. We baptised two people by full immersion and, had one infant baptism, one confirmation and two re-affirmations of baptismal faith. We prepared three couples for marriage and hosted one of their weddings at our church building.

We ran a Harringay Village Fete in September, and a Christmas Carol Extravaganza and Candlelit Carols service in December. These were all well attended. Thanks to a great team effort we delivered Christmas invitations to every home in our parish. Additionally, our door knocking team completed their first lap of the parish, having knocked on more than 4,000 doors, asking local people what they do and don’t like about Harringay, and offering prayer. They have set out on a second lap and are engaged in a termly push to keep momentum.

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 conducted some whole-church safeguarding training.

In 2023 we also fitted two lightning conductors to the church building. We successfully fundraised for another year of service for a Ministry Trainee. We unveiled a new war memorial to honour local men who gave their lives in World War One on Remembrance Sunday. We set up an Accessibility Working Group to make St Paul’s as welcoming a community as possible, and the group met three times in 2023.

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 7 and 8 respectively. The Church’s reserves increased by £20,330 (2022: decreased by £45,070) during the year. The balance sheet shows total net assets of £193,436 (2022: £173,106).

Included in total funds are amounts totalling £19,207 (2022: £19,207) 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.

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 2023 the church had net free reserves of £172,053 (2022: £150,093) as follows:

Total reserves Less: restricted funds Less: fixed assets Free reserves Free reserves requirement: 3 months routine expenditure	2023	2022 £ 173,106 (19,207 (3,806	) )
	£

	193,436
	(19,207)
	(2,176)

		150,093
	172,053

		30,000

	40,000

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Report of the Parochial Church Council For the year ended 31 December 2023

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 2023, they gave grants to 9 projects totalling £8,200 (2022: £9,239).

4. Plans for Future Periods

Our vision going forwards is to love Jesus, love our neighbours, grow disciples and plant churches.

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.

6. Approval

The report of the PCC was approved by the PCC on 13 May 2024 and signed on its behalf by:

The Revd Peter Snow

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Report of the Independent Examiner to the Parochial Church Council of St Paul Harringay For the year ended 31 December 2023

I report on the accounts of the St Paul Harringay for the year ended 31 December 2023, which are set out on pages 7 to 15.

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 2022 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

13 May 2024

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Statement of Financial Activities For the year ended 31 December 2023

Unrestricted Funds 2023 £ 161,631 380 33,300 3,276		Unrestricted Funds 2022 £ 152,528 3,132 29,775 2,709
	Total
	2023
	£

	161,631
	380
	33,300
	3,276

198,587		188,144
	198,587

764 186,657 187,421 9,164 20,330 - - 20,330 153,899 174,229		1,060 163,225

	764
	186,657

		164,285
	187,421

		(12,819)

	9,164

		11,040
	20,330

		- -
	-
	-

		11,040 142,859
	20,330

	173,106

		153,899
	193,436

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Balance Sheet As at 31 December 2023

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 2023 £ 2,176 105,727 107,903 2,597 90,717 93,314 26,988 66,326 174,229 - 174,229 174,229	Restricted Funds 2023 £ - - 0 - 19,207 19,207 - 19,207 19,207 19,207 - 19,207			Total 2022 £ 3,806 96,563
			Total
			2023
			£

			2,176
			105,727

					100,369 11,755 67,605
			107,903

			2,597
			109,924

					79,360 6,623
			112,521

			26,988

					72,737
			85,533

					173,106
			193,436

					19,207 153,899


			19,207
			174,229

					173,106
			193,436

The financial statements were approved by the PCC on 13 May 2024 and signed on its behalf by:

Wing-Yen Li Treasurer

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Notes to the Financial Statements For the year ended 31 December 2023

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.

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Notes to the Financial Statements For the year ended 31 December 2023

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.

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Notes to the Financial Statements For the year ended 31 December 2023

2. Income

Unrestricted Funds 2023 £ Voluntary income Offerings and donations 142,112 Income tax reclaimed 1,169 Grants received 18,350 161,631 Incoming resources from charitable activities Fees (net) 380 Other trading income Lettings 32,546 Fundraising 754 33,300 Investment income Bank Interest 560 Dividends 2,716 3,276 198,587	Restricted Funds 2023 £ - - - 0 - - - 0 - - 0 0				Total 2022 £ 152,239 289 23,372
			Total
			2023
			£


			142,112
			1,169
			18,350

					175,900 3,132 29,420 356
			161,631

			380


			32,546
			754

					29,776
			33,300

					327 2,701

			560
			2,716

					3,028
			3,276

					211,836
			198,587

3. Expenditure on Raising Funds

Fundraising costs Collecting Agent Fees Bookstall	Unrestricted Funds 2023 £ Restricted Funds 2023 £ 664 - 24 - 76 - 764 0				Total 2022 £ 401 26 633
			Total
			2023
			£

			664
			24
			76

					1060
			764

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Notes to the Financial Statements For the year ended 31 December 2023

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 2023 £ Restricted Funds 2023 £ 24,000 - 40,150 - 2,878 - 5,559 - 8,200 - 70,000 - 33,940 - 1,630 - 300 - 186,657 0	Unrestricted Funds 2023 £ Restricted Funds 2023 £ 24,000 - 40,150 - 2,878 - 5,559 - 8,200 - 70,000 - 33,940 - 1,630 - 300 - 186,657 0				Total 2022 £ 20,500 40,225 4,284 6,838 11,640 45,915 111,812 1,453 360 243,027
				Total
				2023
				£

				24,000
				40,150
				2,878
				5,559
				8,200
				70,000
				33,940
				1,630
				300


				186,657

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)		2023		2022 £ 41,106 (5,071) 2,182 (2,182) 687
		£

		57,024
		-
		4,104
		(4,104)
		1,236

				36,722
		58,260

				-

		-

The average number of employees during the year was 3 (2022: 2). No employee received emoluments in excess of £60,000 during the year.

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Notes to the Financial Statements For the year ended 31 December 2023

5. Tangible Fixed Assets

5. Tangible Fixed Assets
Cost/valuation At 1 January 2023 Additions Disposals At 31 December 2023 Depreciation At 1 January 2023 Charge for Year Disposals At 31 December 2023 Net Book Value At 31 December 2023 At 31 December 2022	Fixtures
	fittings &
	equipment
		£

		18,707
		-
		-

		18,707


		14,901
		1,630
		-

		16,531


		2,176

		3,806

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		2023		2022 £ 109,382 - - (12,819) 96,563
		£

		96,563
		-
		-
		9,164

		105,727

7. Debtors

7. Debtors
Grant Receivable Gift Aid Receivable Other debtors	2023	2022 £ 6,000 1,428 4,327 11,755
	£

	-
	2,597
	-

	2,597

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Notes to the Financial Statements For the year ended 31 December 2023

8. Creditors - Amounts Falling Due Within One Year

Accruals London Diocese (Common Fund) Other creditors		2023		2022 £ 2,310 4,313 6,623
		£

		2,600
		22,000
		2,388

		26,988

Common Fund payments were paused in February 2023 while we waited for reassurances from our Bishop.

9. Restricted Funds

At 1 January 2023 £ 18,018 119 45 1,000 25 19,207	Gains/ (losses) £ - - - - - 0	At 31	At 31
		December
			2023
			£

			18,018
			119
			45
			1,000
			25


			19,207

	Gains/ (losses) £ - - - - - - - - 0
At 1 January 2022 £ 17,698 119 56,430 45 1,000 0 25 0 75,317			At 31
		December
			2022
			£

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


			19,207

Descriptions of the main restricted funds are as follows:

Organ Fund. Funds raised specifically for the maintenance of the church organ. Maintenance Reserve Fund. Funds settled for the maintenance of the church building.

The Parochial Church Council of the Ecclesiastical Parish of St Paul, Harringay

Notes to the Financial Statements For the year ended 31 December 2023

10. Related Party Transactions and Balances

Expenses totaling £nil (2022: £nil) in respect of travel, subsistence and training, 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 £nil (2022: £2,000) 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 £60,123 (2022: £85,690).