## **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023** **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLWAY DIOCESE OF LONDON** Church of England ## **Charity Registration Number: 1198307** Independent Examiners Ltd Unit 2 Broadbridge Business Centre Delling Lane Bosham PO18 8NF 1 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLWAY DIOCESE OF LONDON** ## **CONTENTS** |Page 3|Legal and Administrative Information| |---|---| |Page 4|Independent Examiner's Report to the PCC Members| |Pages 5 to 13|Trustees Annual Report| |Page 14|Statement of Financial Activities| |Page 15|Balance Sheet| |Pages 16 to 24|Notes to the Financial Statements| 2 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH** ## **OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **DIOCESE NAME** Diocese of London **MEMBERS OF THE CHURCH PCC Chair** Rev`d Alan Comfort (until March 2023) **PCC Members** Mary Bishop (until March 2023) Jill Comfort (until March 2023) Emmanuel Ekwechi Sheryl Hendrickson Lloyd Milo Ade Olujinmi Lucius Onyemelukwe Nicky Pinkney PCC Vice Chair Elin Warnasuriya Graham Warnasuriya Treasurer **Church Wardens** Maggie Smyth PCC Secretary/Church Warden Uche Ihedioha Church Warden **Deanery Synod Reps** Gabriel Bankole David Price Henrietta White **CHARITY STATUS** The PCC registered with the Charity Commission on 22nd March 2022 **CHARITY REGISTRATION NUMBER** 1198307 **GOVERNING DOCUMENT** Parochial Church Council Powers Measure (1956) as amended and Church Representation Rules that came into force on 2nd January 1957 **REGISTERED ADDRESS** St John's Grove Upper Holloway Islington London N19 5RR **PRIMARY BANKERS** HSBC Bank Plc. 31 Holborn Holborn Circus London EC1N 2HR **INDEPENDENT EXAMINER** Independent Examiners Ltd Unit 2 Broadbridge Business Centre Delling Lane Bosham PO18 8NF 3 ## **INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS** This report on the financial statements for the PCC of the Ecclesiastical Parish of St John The Evangelist Upper Holloway the year ended 31st December 2023, which are set out on the following pages, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 ('the regulations') and s.145 of the Charities Act 2011 ('The Act'). ## **Respective Responsibilities of the PCC and the Examiner** As the members of the PCC you are responsible for the preparation of the financial statements; you consider that the audit requirement of Regulations and section 144(2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to issue this report on those financial statements accounts in accordance with the terms of the Regulations. ## **Basis of Independent Examiner's Report** My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145 (5)(b) of the Act and to be found in the Church Guidance, 2006 edition, issued from the Finance Division of the Archbishops' Council. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking 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 Examiner's Statement** In connection with my examination, attention is drawn to the fact that there is currently uncertainty regarding ownership of the property shown within these accounts as a fixed asset, as to whether the owner is the Diocese or St John's PCC. The PCC have been advised to continue receiving the rental income from the property while the Diocese property team continues to evaluate and until a resolution and decision is reached by the Diocese. To that end the property continues to be shown as a fixed asset. Attention is also drawn to note 7 with regard to the extension of the repayment period for a loan agreed in 2022. The Trustees remain confident of its repayment, with a monthly repayment plan now in place. No other material matter has come to my attention: - 1) which gives me reasonable cause to believe that in any material respect the requirements: - ●to keep accounting records in accordance with section 130 of the Act; and - to prepare accounts which accord with the accounting records and to comply with the requirements of the Act, and - the Regulations have not been met; or - 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## J Irvinesmith FCIE Independent Examiners Ltd Unit 2 Broadbridge Business Centre Delling Lane Bosham PO18 8NF > Dated: 21 October 2024 4 ## **Trustees’ Annual Report for the period** **From 1 Jan 2023 - 31 Dec 2023** ## **Charity name: THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **Charity registration number: 1198307** ## **Objectives and Activities** ||SORP
reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para
1.17|•
**To promote the whole mission of the**
**Church, pastoral, evangelical, social and**
**ecumenical.**
•
**The PCC is also specifically responsible**
**for the maintenance of the Church**
**building and a curate’s house on Anatola**
**Road, North London.**| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para
1.17 and
1.19|•
**Maintain the church building for use by**
**the parish community.**
•
**Maintain church gardens for the public to**
**enjoy.**
•
**Provide pastoral services to the**
**community through the week.**
•
**Providing instructor-led activities for the**
**youth of the parish.**
•
**Sunday services aim to be a place of**
**spiritual solace and respite through**
**worship, music and prayer.**| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para
1.18|•
**the trustees are aware of the guidance**
**and take this into account when making**
**decisions as a governing body.**| ## **Additional information (optional)** You may choose to include further statements where relevant about: SORP reference Para Policy on grant making 1.38 Para Policy on social investment 1.38 5 |including program related
investment||| |---|---|---| |Contribution made by
volunteers|Para
1.38|| |Other||| ## **Achievements and Performance** - SORP reference • **Provided support for those in need through prayer and biblical advice by the prayer team.** - Summary of the main Para • **Church is made available on Saturday** achievements of the charity, 1.20 **mornings to the public.** identifying the difference the • **Saturday prayers once a month.** charity’s work has made to • **Annual summer fair open to the public.** the circumstances of its • **Hosting school services at church** beneficiaries and any wider **calendar events.** benefits to society as a • **Christmas carol and Christingle services** - whole. **open to the public.** - • **Hosted Harvest services for collecting food for donation to local food bank.** - **Provided monthly bible-study sessions to our Iranian congregants, lead by the curate and an English-Farsi translator.** - **Provided pastoral care visits to members of the community who are house-bound or unable to attend Sunday services.** - • **Provided a weekly ‘Soup and Stretch’ session which involves seat-based exercises for less-able people lead by an experienced instructor, followed by a light meal.** - • • **Provided weekly online Wednesday bible study sessions, open to all who wish to join in.** - **Provided weekly activities for young people lead by an experienced Christian youth worker. An annual Christmas meal outing for the group was also part-funded by the PCC.** - **Provided an annual coach trip to the Shoeburyness seaside for members of** 6 **----- Start of picture text -----**
the community.
**----- End of picture text -----**
**Additional information (optional)** You may choose to include further statements where relevant about: **----- Start of picture text -----**
Achievements against Para
objectives set 1.41
Performance of fundraising
activities against objectives Para 1.41
set
Investment performance Para
against objectives 1.41
Other
**----- End of picture text -----**
7 ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para
1.21|•
**Total receipts on unrestricted funds were**
**£176,479 of which £62,960 was unrestricted**
**voluntary donations, and a further £13,676**
**was from Gift Aid.**
•
**No restricted donations were received in**
**2023.**
•
**The curate’s house at 4 Anatola Road,**
**Archway continues to be let out which**
**provided a gross income of £16,632.**
•
**The hall section of the church building**
**continues to be let out to Little Haven**
**Children’s nursery, bringing in gross**
**income of £32,568.**
•
**The church grounds were let out to the**
**regular Christmas tree sellers in December,**
**with a gross income of £5,643.**
•
**Income from the St Peter’s trust (property**
**rental income) was £41,500 for the year.**
•
**Interest of £250 was earned from restricted**
**endowment funds – the interest earned**
**portion is unrestricted.**
**Maintenance of the church buildings (£10,600)**
**remains the largest cost outside of utilities**
**(£20,216), insurance (£9,528) and staffing (£17,520).**
**The PCC also contributed £50,000 into the**
**Diocese’s common fund.**
**Contributions to mission work partners totalled**
**£5,100.**| |Statement explaining the
policy for holding reserves
stating why they are held|Para
1.22|**£146,035 is held on designated reserve for the**
**church building reordering project which has**
**suffered a setback since the departure of the**
**vicar. A new architect has been commissioned by**
**direction of the diocese and work to progress the**
**project will resume once a new vicar is appointed.**| |Amount of reserves held|Para
1.22|**Free Reserves stand at £112,405 as**
**represented by unrestricted net current assets.**| |Reasons for holding zero
reserves|Para
1.22|**N/A**| |Details of fund materially in
deficit|Para
1.24|**N/A**| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para
1.23|**N/A**| **Additional information (optional)** You may choose to include further statements where relevant about: The charity’s principal sources of funds (including Para 1.47 8 |any fundraising)||| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|| |A description of the principal
risks facing the charity|Para 1.46|| |Other||| 9 ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|**Constitution**| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**Unincorporated**| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**Proposals 10 weeks prior to Annual**
**general meeting, with elections taking**
**place at the PCC’s Annual General**
**meeting.**| ## **Additional information (optional)** You may choose to include further statements where relevant about: Policies and procedures adopted for the induction and Para 1.51 training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any related Para 1.51 parties Other ## **Reference and Administrative details** |Charity name|St. John the evangelist| |---|---| |Other name the charity uses|| |Registered charity number|1198307| |Charity’s principal address|Pemberton Gardens
N19 5RR
London| ||| 10 **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (if any)**| |---|---|---|---|---| ||Gabriel Bankole|||| ||Emmanuel Ekwechi|||| ||Sheryl Hendrickson|||| ||Uche Ihedioha|Church warden||| ||Lloyd Milo|||| ||Adewale Olujinmi|||| ||Lucius Onyemelukwe|||| ||Nicky Pinkney|PCC Vice chair||| ||David Price|||| ||Margaret Smyth|PCC Secretary/
Churchwarden||| ||Elin Warnasuriya|||| ||Graham Warnasuriya|Treasurer||| ||Henrietta White|||| ||Uzor Monu|||| |||||| |||||| |||||| |||||| |||||| |||||| – Corporate trustees names of the directors at the date the report was approved **Director name** Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** 11 ## **Funds held as custodian trustees on behalf of others** Description of the assets Cash held on account held held in this capacity Name and objects of the 1. Upper Holloway Fellowship of churches - £590 held charity on whose behalf the on behalf of 3 local churches incl. St Johns – assets are held and how this reserved for joint activities. falls within the custodian 2. Upper Holloway Drop-in centre - £8,521.30 held on charity’s objects behalf of soup kitchen run by a partnership of local churches including St Johns. Details of arrangements for Both are recorded as separate restricted funds in safe custody and the charity’s accounts. segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** **Type of Name Address adviser** **Name of chief executive or names of senior staff members (Optional information)** ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** 12 ## Declarations The trustees declare that they have approved the trustees' report above. Signed on behalf of the charity's trustees Charity Treasurer Signature(s) Graham Wamasuriya Full name(s) Graham Wamasuriya Position (eg Secretary, Treasurer Chair, etc) Date 04/03/2024 13 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH** ## **OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023** |||Unrestricted|Endowment|Designated|Restricted|**TOTAL**|**TOTAL**| |---|---|---|---|---|---|---|---| ||**Notes**|Funds|Funds|Funds|Funds|**2023**|**2022**| |**INCOME FROM:**||£|£|£|£|£|£| |Donations & Legacies|**4a**|78,391|-|880|-|79,271|80,681| |Income from Generated Funds|**4b**|96,343|-|-|-|96,343|67,304| |Income from Investments|**4c**|1,290|-|-|-|1,290|1,419| |Other Incoming Resources|**4d**|455|-|-|-|455|1,446| |**TOTAL INCOME**||**176,479**|**-**|**880**|**-**|**177,359**|**150,850**| |**EXPENDITURE**|||||||| |Cost of Charitable Activities|**5a**|142,533|-|3,570|-|146,103|125,583| |Governance Costs|**5b**|12,048|-|-|-|12,048|10,111| |**TOTAL EXPENDITURE**||**154,581**|**-**|**3,570**|**-**|**158,151**|**135,694**| |**NET INCOME/(EXPENDITURE)**||**21,898**|**-**|**(2,690)**|**-**|**19,208**|**15,156**| |**BEFORE INVESTMENTS GAINS/(LOSSES)**|||||||| |Net Gains & (Losses) on|**3**|-|3,193|-|-|3,193|(4,572)| |Investments|||||||| |**NET INCOME/(EXPENDITURE)**||**21,898**|**3,193**|**(2,690)**|**-**|**22,401**|**10,584**| |Transfer Between Funds|**10**|12,328|-|(12,328)|-|-|-| |**NET MOVEMENT IN FUNDS**||34,226|3,193|(15,018)|-|22,401|10,584| |**RECONCILIATION OF FUNDS**|||||||| |Total Funds Brought Forward||447,733|40,509|160,460|22,342|671,044|660,460| |**TOTAL FUNDS CARRIED FORWARD**||**481,959**|**43,702**|**145,442**|**22,342**|**693,445**|**671,044**| Movements on all reserves and all recognised gains and losses are shown above. All of the PCC's operations are classed as continuing. The notes on pages 16 to 24 form part of these financial statements. 14 ## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER ROLLWAY ## BALANCE SHEET AS AT 31ST DECEMBER 2023 ||||||Unrestricted|Endowment|Designated|Designated|Restricted|31-Dec-23|31-Dec-22| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||Funds|Funds||Funds|Funds|Total|Total| |Agee
Tangible
Assets
Investments||||2
3|363,010
6
544|37
944||||363,010
44
488|383,036
41
295| |||||||||||49|| |Current
Asseb|||||||||||| |Cash
at
bank
and
in
hand
Debtors
&
Prepayments||||6
7|88,798
30
636|5,758||145,442|22,342|262,340
30
636|226,432
23
785| |Total
Current
Asseb|||||||||||| |Creditors:
Due
Within
One||
Year||8|7,029|||||7,029|3,504| |NET
CURRENT
ASSETS|||||112,405|5,758||145,442|22,342|285,947|246,713| |TOTAL
ASSETS
less
current|||
liabilities||||||||| |Creditors:
Due
in
More
than||||9|||||||| |One
Year|||||||||||| |NET
ASSETS|||||||||||| |Funds
ot
the
ChartW|||||||||||| |Unrestricted
Funds
Endowment
Funds
Designated
Funds||||3
10|481,959|43,702||145,442||481,959
43,702
145,442|447,733
40.509
160.460| |Restricted
Funds|||11||||||22,342|22,342|22,342| 30 Approved by the Trustees on 2024 Signed on their behalf by Printed Name: Mr G. Warnasuriya 15 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **1. ACCOUNTING POLICIES** ## **a) Basis of Preparation of Financial Statements & Assessment of Going Concern** The accounts are prepared under the historical cost convention, in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Charities Act 2011. The primary objective of the charity is to promote the gospel of our Lord Jesus Christ according to the doctrine and practice of the Church of England. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. There are no material uncertainties about the charity’s ability to continue as a going concern. The church is registered with the Charity Commission under number 1193807. The Trustees are the members of the PCC named on page 3. ## **b) 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. **Designated funds** are earmarked by the PCC for purposes but are nevertheless still unrestricted as the PCC can reassign the funds if it wishes. **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. **Endowment Funds** are funds donated for the purpose specified by the donor, the capital is held in accordance with the directions of the donor, and income arising from the fund is to spent in accordance with the donor wishes. The funds of the PCC have been appropriately analysed, and the statement of financial activities has been prepared in accordance with this analysis. ## **c) Accounting Requirements** The accounts are required to include all transactions, assets and liabilities for which the PCC can be held responsible. ## **d) Income** (i) **Donations** - Collections and planned giving are included in the SOFA when the funds are received. Income tax recoverable on gift aid donations is recognised when claimable. (ii) **Other donations** - Any grants or legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due. 16 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** (iii) **Trading and ancillary activities:** All funds raised by parish activities such as the bookstall, and catering etc. are accounted for gross. Rental income from non-investment property and room lettings is recognised when the rental is due. Parochial fees for weddings, funerals etc., are accounted for when due. (iv) **Investments** - Income earned on short-term deposits with the bank and Central Board of Finance is accounted for when received. Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at the year-end. ## **e) Application of Resources** (i) Grants and outward giving are accounted for in the SOFA when paid, unless an obligation, whether constructive or legal, exists to the recipient in accordance with the Charities SORP and FRS102. (ii) Parish share and other costs directly relating to the work and activities of the Church are accounted for when they are incurred or become due and payable. ## **f) Fixed Assets** (i) **Consecrated land and buildings and moveable church furnishings** - Consecrated and beneficed property, is excluded from the accounts by S10(2)(a & c) of the Charities Act 2011. No value is attributed to moveable church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether for maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed. (ii) **Other land and buildings** - Other land and buildings held on behalf of the PCC for its own purposes are valued at a fair but prudent valuation which is a reasonable estimate of the current value “in use” of the property. No depreciation has been charged in respect of such properties as they are kept in sound condition and any expenditure on maintenance or improvement following regular review is written off as incurred. Other land and buildings held for rental purposes are depreciated over 30 years. (iii) **Other fixtures, fittings and office furniture -** Fixtures, fittings and equipment used for church purposes is capitalised and written off on a straight-line basis over the assets estimated useful life. Routine replacements and renewals are written off as expenditure in the SOFA. Other equipment purchases of under £7,500 are also written off as expenditure in the SOFA. ## **g) Current Assets** Amounts owing to the PCC at the year end in respect of tax reclaims and other income are shown as debts less any provision for amounts which may prove to be uncollectable. Short-term deposits include cash held on deposit either with the Central Board of Finance or at a bank. ## **h) Tax Status** As a charity, the PCC is exempt from paying income and corporation tax but does have to pay value added tax if applicable. ## **i) Depreciation Expense** Depreciation is calculated at a rate to write off the cost of tangible fixed assets on an appropriate basis over their estimated useful lives. The rates applied per annum are as follows: Freehold Land & Building Fixtures, Fittings & Equipment Straight Line Basis Over 30 Years based on original cost of £96,000 until 2017, then based on revalued cost of £550,000 Reducing Balance Basis at 25% of Cost 17 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **2. TANGIBLE FIXED ASSETS** |Cost
01-Jan-23
Additions
Cost at
31-Dec-23
Depreciation
01-Jan-23
Charge
Depreciation at
31-Dec-23
Net Book Value
31-Dec-23
Net Book Value
31-Dec-22|Freehold
Improvements
Fixtures
Land
to
Fittings &
**Total**
& Building
Property
Equipment
**2022**
£
£
£
£
550,000
2,992
17,167
570,159
-
-
-
-
550,000
2,992
17,167
570,159
173,732
2,046
11,345
187,123
18,333
237
1,456
20,026
192,065
2,283
12,801
207,149
**357,935**
**709**
**4,366**
**363,010**
**376,268**
**946**
**5,822**
**383,036**| |---|---| Trustees of the Parish of St John Upper Holloway sought guidance and advice regarding the revaluation of Land & Buildings at 4 Anatola Road, London, N19 5HN. The Land & Buildings were previously valued at cost and were included in the accounts at a value of £96,000 as at the 31st December 2015. The subsequent valuation for Land & Buildings were based on fair value by a local estate management agent and were valued at £550,000 as at the 31st December 2016. The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2023: Photocopier lease payable at £372 per quarter ## **3. INVESTMENTS** |||Unrestricted
Endowment
Endowment
Funds
Funds
Funds|| |---|---|---|---| |Market Value at|01-Jan-23|Thomas
Thomas
Dickinson
Lyon Charity
CBF
CCLA- COIF
CCLA- COIF
Deposit
Investment
Investment
Fund
Fund
Fund
£
£
£
6,544
32,515 2,236|**2023**
TOTAL
£
41,295| |Additions||-
- -|-| |Disposals||-
- -|-| |Unrealised Gains/(Losses)||-
2,988 205|3,193| |Transfer of Funds to Church Bank Account||-
- -|-| |Market Value at|31-Dec-23|**6,544**
**35,503**
**2,441**|**44,488**| **The Thomas Dickinson Fund** was established by a Scheme dated March 1975. The Vicars of the Parish Church of St John the Evangelist, Upper Holloway and the Parish Church of St Mark with St Anne, Holloway and Co-Optive Trustees of both Parish Churches were appointed first Trustees of the Fund. The capital of the fund is held in permanent endowment and cannot be spent. Income from the fund is by way of dividends, for which the above churches including St John's are beneficiaries. The dividends are paid into a separate bank account and distributed to the two beneficiaries. The purpose of the fund is for supporting members of the congregation meeting for religious worship at the Parish Church of St John the Evangelist, Upper Holloway and the Parish Church of St Mark with St Anne, Holloway, who are in conditions of need, hardship or distress. In 2023, dividend income totalling £974.57 from the Thomas Dickinson Endowment Fund is accrued and shown in the Statement of Financial Activities. The Charity holds investments with CCLA COIF Investment Fund. **The Thomas Dickinson** Investments Fund held 1789 Investment Fund Shares at a unit cost of £19.845 per share. The investment value was £35,502.70 as at the 31st December 2023. 18 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **3. INVESTMENTS (continued)** **The Thomas Lyon Fund** was established by a Scheme dated March 1975. The Ecclesiastical Parishes of St John the Evangelist, Upper Holloway and St Mark with St Anne, Holloway were appointed first Trustees of the Fund. The capital of the fund is held in permanent endowment and cannot be spent. Income from the fund is by way of dividends, for which the above churches including St John's are beneficiaries. The dividends are paid into a separate bank account and distributed to the two beneficiaries. Income from the fund must be used for the relief of poor members of the congregation meeting for religious worship at the Parish Church of St John the Evangelist, Upper Holloway. In 2023, dividend income totalling £67.01 from the Thomas Lyon Endowment Fund is accrued and shown in the Statement of Financial Activities. The Charity holds investments with CCLA COIF Investment Fund. **The Thomas Lyon** Charity Investment Fund held 123 Investment Fund Shares at a unit cost of £18.801 per share. The investment value was £2,440.94 as at the 31st December 2023. ## **4. INCOME** ||**Note**|Unrestricted|Endowment|Designated|Restricted|**TOTAL**|**TOTAL**| |---|---|---|---|---|---|---|---| |||Funds|Funds|Funds|Funds|**2023**|**2022**| |**a) Donations & Legacies**||£|£|£|£|£|£| |Gifts & Donations|**10**|62,960|-|880|-|63,840|65,311| |Gift Aid Tax Recoverable||13,676|-|-|-|13,676|12,729| |Grants|**11**|-|-|-|-|-|2,641| |Special Collections||1,755|-|-|-|1,755|-| |||**78,391**|**-**|**880**|**-**|**79,271**|**80,681**| |**b) Income From Charitable Activities**|||||||| |Discretion Fund||-|-|-|-|-|-| |Junior Church||-|-|-|-|-|-| |Messy Church||-|-|-|-|-|-| |Mission Support||-|-|-|-|-|-| |Youth Activities||-|-|-|-|-|-| |||**-**|**-**|**-**|**-**|**-**|**-**| |**b) Income From Other Trading**|**Activities**||||||| |Books & Publications||-|-|-|-|-|-| |Garden Fete/Community Events||-|-|-|-|-|-| |Rental Income||96,343|-|-|-|96,343|67,304| |||**96,343**|**-**|**-**|**-**|**96,343**|**67,304**| |**c) Income from Investments**|||||||| |Bank Interest and Dividends|**3**|1,290|-|-|-|1,290|1,419| |||**1,290**|**-**|**-**|**-**|**1,290**|**1,419**| |**d) Other Incoming Resources**|||||||| |Other Income||44|-|-|-|44|-| |Weddings and Funerals||411|-|-|-|411|1,446| |||**455**|**-**|**-**|**-**|**455**|**1,446**| 19 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH** ## **OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **5. EXPENDITURE** |**Note**
**a) Cost of Charitable Activities**
Bank Charges
Church Mission Support
Church Running Costs (Utilities)
Clergy Expenses
Curate House Repairs and Maintenance
Depreciation Expense
Equipment and Software Costs
Gifts & Donations
License & Subscriptions
London Diocese - Common Fund
Marketing, PR and Web Design
Office Costs
Organ Costs
Outreach & Evangelism
Overseas Mission Support
Repairs & Maintenance
Staff Costs
**13**
Sundry Expenses
Telephone Costs
Training Costs
Volunteer Costs, Staff Welfare and Travel
**b) Governance Costs**
Insurance Costs
Independent Examiners Fees
**8**
Legal & Professional Fees|Unrestricted
Endowment
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
Funds
**2023**
**2022**
£
£
£
£
£
£
129
-
-
-
129
-
-
-
-
-
-
511
20,648
-
-
-
20,648
13,950
-
-
-
-
-
175
2,900
2,900
378
20,026
-
-
-
20,026
20,589
492
-
-
-
492
287
600
-
-
-
600
1,049
1,488
-
-
-
1,488
1,898
50,000
-
-
-
50,000
45,000
244
-
-
-
244
-
2,928
-
-
-
2,928
300
1,125
-
-
-
1,125
432
3,533
-
1,388
-
4,921
2,979
5,100
-
-
-
5,100
5,154
13,637
-
2,182
-
15,819
12,591
17,520
-
-
-
17,520
18,769
-
-
-
-
-
68
776
-
-
-
776
902
30
-
-
-
30
506
1,357
-
-
-
1,357
45
**142,533**
**-**
**3,570**
**-**
**146,103**
**125,583**
9,528
-
-
-
9,528
8,671
1,470
-
-
-
1,470
1,440
1,050
-
-
-
1,050
-
**12,048**
**-**
**-**
**-**
**12,048**
**10,111**| |---|---| 20 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH** ## **OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **6. CASH AT BANK AND IN HAND** |Cash at Bank and in Hand|Unrestricted
Endowment
Designated
Restricted
Funds
Funds
Funds
Funds
**31-Dec-23**
**31-Dec-22**
£
£
£
£
**£**
**£**
88,798
5,758
145,442
22,342
262,340
226,432
**88,798**
**5,758**
**145,442**
**22,342**
**262,340**
**226,432**| |---|---| ## **7. DEBTORS & PREPAYMENTS** |Debtors and Prepayments
Gift Aid Tax Recoverable
Interest and Dividends Receivable
Loan|Unrestricted
Endowment
Designated
Restricted
Funds
Funds
Funds
Funds
**31-Dec-23**
**31-Dec-22**
£
£
£
£
**£**
**£**
5,920
-
-
-
5,920
604
13,676
-
-
-
13,676
12,904
1,040
-
-
-
1,040
277
10,000
-
-
-
10,000
10,000
**30,636**
**-**
**-**
**-**
**30,636**
**23,785**| |---|---| The loan shown above relates to an interest free loan given to Red Balloon Foundation (registered charity 1158982) on 26th January 2022, with an original planned repayment date of 26th January 2023 (or an agreeable date between the parties). The original target repayment date was not achieved. As at the date of signing these financial statements, the Trustees confirm that an agreement is in place for Red Balloon Foundation to start paying £1,000 every month for 10 months commencing September 2024. ## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Sundry Creditors
Independent Examiners Fee
NEST Pension Contributions|Unrestricted
Endowment
Designated
Restricted
Funds
Funds
Funds
Funds
**31-Dec-23**
**31-Dec-22**
£
£
£
£
**£**
**£**
5,559
-
-
-
5,559
2,044
1,470
-
-
-
1,470
1,440
-
-
-
-
-
20
**7,029**
**-**
**-**
**-**
**7,029**
**3,504**| |---|---| ## **9. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR ONE** There were no long term liabilities held during this or the previous financial period. 21 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **10. DESIGNATED FUNDS** **----- Start of picture text -----**
CURRENT YEAR Balance Transfers Transfers Balance
01-Jan-23 In Income Expenditure Out 31-Dec-23
£ £ £ £ £ £
Re-ordering Project 160,460 - - (2,182) (12,243) 146,035
Soup and Stretch Fund - - 880 (1,388) (85) (593)
160,460 - 880 (3,570) (12,328) 145,442
**----- End of picture text -----**
The transfers out in 2023 represent: £ Soup and Stretch (85) To reverse the incorrect replenishment transfer in 2022 Re-ordering Project (5,165) To reverse the incorrect replenishment transfer in 2022 Re-ordering Project (7,078) Designated fund expenditure that was shown as general fund expenditure in error (12,328) |**PRIOR YEAR**
Re-ordering Project
Soup and Stretch Fund|Balance
Transfers
Transfers
Balance
01-Jan-22
In
Income
Expenditure
Out
31-Dec-22
£
£
£
£
£
£
460
165,165
-
(5,165)
-
160,460
-
85
125
(210)
-
-
**460**
**165,250**
**125**
**(5,375)**
**-**
**160,460**| |---|---| The transfers in in 2022 represent: £ Re-ordering Project 5,165 To replenish shortfall on designated fund expenditure Re-ordering Project 160,000 PCC agreement to allocate funds to Re-ordering Project Soup and Stretch 85 To replenish shortfall on designated fund expenditure 165,250 The Churches designated funds are wholly represented by cash reserves held and are to be expended as specified above. ## **11. RESTRICTED FUNDS** |**CURRENT YEAR**
Drop in Centre
Fabric Fund
Upper Holloway Fellowship
of Churches
Church Heating Fund
**PRIOR YEAR**
Drop in Centre
Fabric Fund
Upper Holloway Fellowship
of Churches
Church Heating Fund|Balance
Transfers
Transfers
Balance
01-Jan-23
In
Income
Expenditure
Out
31-Dec-23
£
£
£
£
£
£
8,521
-
-
-
-
8,521
13,081
-
-
-
-
13,081
590
-
-
-
-
590
150
-
-
-
-
150
**22,342**
**-**
**-**
**-**
**-**
**22,342**
Balance
Transfers
Transfers
Balance
01-Jan-22
In
Income
Expenditure
Out
31-Dec-22
£
£
£
£
£
£
8,521
-
-
-
-
8,521
13,081
-
-
-
-
13,081
590
-
-
-
-
590
**-**
**-**
150
**-**
**-**
150
**22,192**
**-**
**150**
**-**
**-**
**22,342**| |---|---| There were no transfers between funds in 2023 or 2022. The Churches restricted funds are wholly represented by cash reserves held and are to be expended as specified above. 22 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH** ## **OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **12. ANALYSIS OF NET ASSETS BY FUND** |**CURRENT YEAR**|Unrestricted|Unrestricted|Endowment|Designated|Restricted|31-Dec-23| |---|---|---|---|---|---|---| |||Fund|Fund|Fund|Fund|Total| |||£|£|£|£|£| |Fixed Assets and Investments||369,554|37,944|-|-|407,498| |Current Assets||112,405|5,758|145,442|22,342|285,947| |Liabilities (due in more than one year)||-|-|-|-|-| |||**481,959**|**43,702**|**145,442**|**22,342**|**693,445**| |**PRIOR YEAR**
Fixed Assets and Investments|Unrestricted
Fund
£
389,580||Endowment
Fund
£
34,751|Designated
Fund
£
-|Restricted
Fund
£
-|31-Dec-22
Total
£
424,331| |Current Assets||58,153|5,758|160,460|22,342|246,713| |Liabilities (due in more than one year)||-|-|-|-|-| |||**447,733**|**40,509**|**160,460**|**22,342**|**671,044**| |**13. STAFF COSTS AND NUMBERS**||||||| |Gross Wages and Salaries via Payroll||||**2023**
**£**
5,486|**2022**
**£**
7,149|| |Gross Wages and Salaries - self employed||||11,473|12,967|| |Payroll Processing Fees||||455|499|| |Employer's National Insurance Costs||||-|45|| |Less Employer's Allowance||||-|(45)|| |SMP Recovered||||-|(2,259)|| |Employer's Pension Contributions||||106|413|| |||||**17,520**|**18,769**|| |Employees were engaged in each of the following activities:||||||| |||||**2023**|**2022**|| |Activities in furtherance of organisation's objects||||1|1|| The PCC paid a Worship Leader, Administrator and Youth Ministry Worker on a self-employed basis during 2023. They were responsible for reporting their own tax and national insurance obligations to HMRC. Until September 2023, the PCC employed one staff member and operated a PAYE scheme. No employees received emoluments in excess of £60,000 (2022: None). The key management personnel are considered to be the PCC Members. One PCC Member received remuneration and self employment payments for their role as Parish Administrator. Therefore, the total benefits paid to key management personnel (including employer national insurance and employer pension contributions) was £6,488 (2022: £8,106). The PCC operated a government backed pension scheme as from April 2020, and all eligible employees were enrolled into the scheme. ## **14. PAYMENTS TO PCC MEMBERS AND RELATED PARTIES** During the financial year PCC Member Mrs E. Warnasuriya received gross remuneration via PAYE of £5,486 (2022: £7,149) in her capacity as Parish Administrator for the Parish of St John Upper Holloway in furthering the Charity's objectives. The PCC also paid employer pension contributions of £106 (2022: £413) on her behalf. As from September 2023, Mrs Warnasuriya was contracted to work as a self employed Parish Administrator instead of via PAYE, and received total payments under self employment of £896. During the financial year PCC Secretary and Church Warden Mrs M Smyth, received payments totalling £1,230 for cleaning services given to the Church. The PCC relies on the provisions contained in section 3a of its governing document to pay a PCC member. Apart from the reimbursement of charitable purchases paid for personally on behalf of the charity, no other payments were made to PCC Members or any persons connected with them during this financial period. No other material transaction took place between the charity and a PCC Member or any person connected with them. An amount of £600 was given to Rev A and J Comfort from a farewell collection that was taken in church for them. 23 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLWAY** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **15. RISK ASSESSMENT** The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. ## **16. 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 continue 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. ## **17. 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 Trustees report. 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 24