ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
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 The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
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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 12 Trustees Annual Report Page 13 Statement of Financial Activities Page 14 Balance Sheet Pages 15 to 23 Notes to the Financial Statements
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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 Matt Tinsley PCC Members Emmanuel Ekwechi Sheryl Hendrickson Lloyd Milo Ade Olujinmi Lucius Onyemelukwe Nicky Pinkney PCC Vice Chair Elin Warnasuriya (resigned 24 March 2024) Graham Warnasuriya (resigned 24 March 2024) Church Wardens Maggie Smyth PCC Secretary/Church Warden Uche Ihedioha Church Warden Deanery Synod Reps Gabriel Bankole (resigned 24 March 2024) David Price Henrietta White (nee Cabey) 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 The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
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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 2024, 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
The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a Fellow Member of the Association of Charity Independent Examiners.
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 a loan to a charity that was agreed in 2022. The original target repayment date was not achieved. The charity is currently insolvent. The receivers are unable to confirm the quantum or timing of the repayment of the loan. No other material matter has come to my attention:
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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
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to prepare accounts which accord with the accounting records and to comply with the requirements of the Act, and
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the Regulations have not been met; or
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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 The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
Dated: 22 October 2025
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Trustees’ Annual Report for the period
From 1 Jan 2024 to 31 Dec 2024
Charity name: THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLOWAY
Charity registration number: 1198307
Objectives and Activities
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SORP reference
Summary of the purposes of the Para 1.17 To promote the whole mission of the
charity as set out in its governing Church, pastoral, evangelical, social
document and ecumenical.
The PCC is also specifically responsible
for the maintenance of the Anatola
Road, Church Road, North London.
Summary of the main activities in Para 1.17 and Maintain the church building for use by
relation to those purposes for the 1.19 the parish community.
public benefit, in particular, the Maintain church gardens for the public
activities, projects or services to
identified in the accounts. enjoy.
Provide pastoral services to the
community through the week.
Sunday services aim to be a place of
spiritual solace and respite through
worship, music and prayer.
Statement confirming whether the Para 1.18 The trustees are aware of the guidance
trustees have had regard to the and take this into account when
guidance issued by the Charity making decisions as a governing body.
Commission on public benefit
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| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|---|
| SORP reference | ||
| Policy on grant making | Para 1.38 | |
| Policy on social investment including program related investment |
Para 1.38 | |
| Contribution made by volunteers | Para 1.38 | |
| Other |
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Achievements and Performance
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SORP reference
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| SORP reference | SORP reference | SORP reference |
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | In 2024, St John the Evangelist, Upper Holloway continued to serve the spiritual, emotional, and practical needs of its parish and wider community, in line with its renewed vision to Love God, Love Other, Love Archway. Through worship, discipleship, pastoral care, and community outreach, we have sought to demonstrate God’s love and contribute to the wellbeing and flourishing of the people of Upper Holloway. Key achievements include: Spiritual support and discipleship: We provided ongoing pastoral and prayer support through our prayer team, offering confidential prayer and biblical encouragement. A monthly Saturday morning prayer gathering also created space to intercede for the church and local area. Accessibility and welcome: The church was open to the public each Saturday morning, offering a quiet space for prayer or conversation, supported by volunteer hosts. Thanks to external grant funding from Cloudesley and the Church Commissioners (via the Hackney & Islington Programme), we were able to install a new sound and visual system. This has significantly enhanced accessibility during services and events—particularly for those with hearing or visual impairments—and improved the overall experience of worship, teaching, and community gatherings for all who attend. Worship and festival gatherings: In addition to our regular Sunday services, we hosted a range of public services and events that welcomed the wider community, including Easter services, our Summer Fair, Christmas Carol Service, and Christingle. These gatherings provided opportunities for people of all ages and backgrounds to explore faith and build community. We also hosted ecumenical gatherings with other local churches, encouraging partnership in worship and witness. Teaching and formation: Alongside weekly online Bible study sessions, we offered a weekly in-person Bible study during the autumn term, focused on spiritual disciplines and accompanied by a shared meal. This created space for deeper discipleship and fellowship. We also continued monthly Bible study sessions for Farsi-speaking members, led by our curate with the support of a translator, helping to nurture faith in an inclusive and culturally accessible way. Children, youth, and school partnerships: Weekly Sunday groups provided creative, age-appropriate teaching for children, supporting their growth in faith. We maintained a strong relationship with St John’s Primary School, hosting school |
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| services and assemblies at major | |
|---|---|
| points in the school calendar such as | |
| Harvest, Easter, and Christmas. | |
| | Pastoral care and social inclusion: |
| Members of the team and congregation | |
| regularly visited those who were | |
| housebound, in hospital, or unable to | |
| attend Sunday services, offering | |
| prayer, conversation, and communion | |
| where requested. These visits provided | |
| emotional and spiritual care to some of | |
| the most isolated members of our | |
| community. | |
| | Health and wellbeing: We continued to |
| run our weekly “Soup and Stretch” | |
| group, offering gentle, chair-based | |
| exercise led by a qualified instructor, | |
| followed by a shared light meal. This | |
| initiative promotes both physical | |
| health and social connection, | |
| especially among older and less-mobile | |
| individuals. | |
| | Community and hospitality: We |
| organised a well-attended annual | |
| coach trip to the seaside, enabling a | |
| day of shared rest and enjoyment, | |
| particularly benefiting those who | |
| might otherwise be isolated or unable | |
| to afford holidays. | |
| | Practical compassion and outreach: In |
| partnership with Samaritan’s Purse, | |
| we delivered over 70 shoeboxes as | |
| part of Operation Christmas Child, | |
| sharing practical gifts and joy with | |
| children experiencing poverty and | |
| crisis overseas. | |
| | Stewardship of our building: In 2024, |
| we secured grant funding from | |
| Cloudesley to undertake essential | |
| building repairs, including works to the | |
| south elevation of the church. These | |
| improvements have helped ensure the | |
| safety, accessibility, and long-term | |
| usability of the church and its grounds | |
| for both the congregation and wider | |
| community, making the building more | |
| **fit for mission and community use. ** |
Additional information (optional) You may choose to include further statements where relevant about:
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Achievements against objectives
set Para 1.41
Performance of fundraising
activities against objectives set
Para 1.41
Investment performance against
objectives Para 1.41
Other
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Financial Review
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Review of the charity’s financial Para 1.21 Total receipts on unrestricted funds
position at the end of the period were £164,892 of which £55,676 was
unrestricted voluntary donations, and
a further £13,000 was from Gift Aid.
No restricted donations were received
in 2024.
Through rental income, the church
made £94,175. This includes the
continued rental of the church hall to
Little Haven Nursery, the rental of the
Curates House at 4 Anatola Road,
rental of the grounds in winter to
Christmas tree sellers, and rental
income from the St Peter’s Trust.
Interest of £250 was earned from
restricted endowment funds the
interest earned portion is unrestricted.
This year the church undertook a
major building project costing
£130,403 with £87,613 of this being
covered by grant money from
Cloudesley.
Maintenance of the church buildings (£9,537)
remains the largest cost outside of utilities
(£16,421), insurance (£10,544) and staffing
(£20,505).
The PCC also contributed £55,000 into the
Diocese’s common fund.
Contributions to mission work partners
totalled £5,100.
Statement explaining the policy Para 1.22 £145,725 is held on designated reserve for the
for holding reserves stating why church building reordering project which has
they are held 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 the new
vicar has settled into his role, with his
appointment only beginning on the 4 [th] of
November.
Amount of reserves held Para 1.22 Free Reserves stand at £94,156 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 There are no funds materially in deficit
Explanation of any uncertainties Para 1.23 There are no uncertainties about the charity
about the charity continuing as a continuing as a going concern.
going concern
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Additional information (optional) You may choose to include further statements where relevant about:
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The charity’s principal sources of
funds (including any fundraising)
Para 1.47
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
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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 Annual General meeting. |
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|---|
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE EVANGELIST UPPER HOLLOWAY |
|---|---|
| Other name the charity uses | St John the Evangelist or St John’s |
| Registered charity number | 1198307 |
| Charity’s principal address | Pemberton Gardens N19 5RR London |
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Names of the charity trustees who manage the charity
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Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee (if
whole year
any)
1 Uche Ihedioha Church Warden
2 Adewale Olujinmi
3 Nicola Pinkney Vice Chair of the PCC
4 David Price Church Warden
5 Henrietta White Treasurer
6 Uzor Monu Curate
7 Matt Tinsley Vicar Elected Nov 2024
8 Emily Pinkney Stepped down Dec 2024
9 Cecilia Ishmael
10 Vivien Gayton
11 Shery Hendrickson
12 Emmanuel Ekwechi
13 Margaret Smyth Church Warden
14 Lucius Onyemelukwe
15 Lloyd Milo
16 Graham Warnasuriya Stepped down Mar 2024
17 Elin Warnasuriya Stepped down Mar 2024
18 Gabriel Bankole Stepped down Mar 2024
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20
–
Corporate trustees names of the directors at the date the report was approved
Director name
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Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year |
|
|---|---|---|
| Funds held as custodian trustees | on behalf of others | |
| Description of the assets held in this capacity |
||
| Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects |
||
| Details of arrangements for safe custody and segregation of such assets from the charity’s own assets |
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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
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Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
SIGN Signature(s) Full name(s) Matt Tinsley Position (eg Secretary, Chair, etc) Vicar Date 15/10/25
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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 2024
| Unrestricted | Endowment | Designated | Restricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | Funds | 2024 | 2023 | |
| INCOME FROM: | £ | £ | £ | £ | £ | £ | |
| Donations & Legacies | 4a | 68,676 | - | 423 | 93,750 | 162,849 | 79,271 |
| Income from Generated Funds | 4b | 94,525 | - | - | - | 94,525 | 96,343 |
| Income from Investments | 4c | 610 | - | - | - | 610 | 1,290 |
| Other Incoming Resources | 4d | 1,081 | - | - | - | 1,081 | 455 |
| TOTAL INCOME | 164,892 | - | 423 | 93,750 | 259,065 | 177,359 | |
| EXPENDITURE | |||||||
| Cost of Charitable Activities | 5a | 187,759 | - | 140 | 87,613 | 275,512 | 146,103 |
| Governance Costs | 5b | 15,359 | - | - | - | 15,359 | 12,048 |
| TOTAL EXPENDITURE | 203,118 | - | 140 | 87,613 | 290,871 | 158,151 | |
| NET INCOME/(EXPENDITURE) | (38,226) | - | 283 | 6,137 | (31,806) | 19,208 | |
| BEFORE INVESTMENTS GAINS/(LOSSES) | |||||||
| Net Gains & (Losses) on | 3 | - | 857 | - | - | 857 | 3,193 |
| Investments | |||||||
| NET INCOME/(EXPENDITURE) | (38,226) | 857 | 283 | 6,137 | (30,949) | 22,401 | |
| Transfer Between Funds | 10,11 | 9,944 | - | - | (9,944) | - | - |
| NET MOVEMENT IN FUNDS | (28,282) | 857 | 283 | (3,807) | (30,949) | 22,401 | |
| RECONCILIATION OF FUNDS | |||||||
| Total Funds Brought Forward | 481,959 | 43,702 | 145,442 | 22,342 | 693,445 | 671,044 | |
| TOTAL FUNDS CARRIED FORWARD | 453,677 | 44,559 | 145,725 | 18,535 | 662,496 | 693,445 |
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 15 to 23 form part of these financial statements.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH
OF ST JOHN THE EVANGELIST UPPER HOLLWAY
BALANCE SHEET AS AT 31ST DECEMBER 2024
| Note Fixed Assets Tangible Assets 2 Investments 3 Current Assets Cash at bank and in hand 6 Debtors & Prepayments 7 Total Current Assets Creditors:Due Within One Year 8 NET CURRENT ASSETS TOTAL ASSETSless current liabilities Creditors: Due in More than 9 One Year NET ASSETS Funds of the Charity Unrestricted Funds Endowment Funds 3 Designated Funds 10 Restricted Funds 11 |
Unrestricted Endowment Designated Restricted 31-Dec-24 31-Dec-23 Funds Funds Funds Funds Total Total £ £ £ £ £ £ 352,977 - - - 352,977 363,010 6,544 38,801 - - 45,345 44,488 359,521 38,801 - - 398,322 407,498 74,867 5,758 145,725 18,535 244,885 262,340 30,078 - - - 30,078 30,636 104,945 5,758 145,725 18,535 274,963 292,976 10,789 - - - 10,789 7,029 94,156 5,758 145,725 18,535 264,174 285,947 94,156 5,758 145,725 18,535 264,174 285,947 - - - - - - 453,677 44,559 145,725 18,535 662,496 693,445 453,677 - - - 453,677 481,959 44,559 44,559 43,702 - - 145,725 - 145,725 145,442 - - - 18,535 18,535 22,342 453,677 44,559 145,725 18,535 662,496 693,445 |
|---|---|
Approved by the Trustees on ………………………………………2025 14 October
SIGN
Signed on their behalf by ……….…………………………....………………………………………………………………………………………………………………………………… Printed Name:
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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 2024
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.
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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 2024
(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 reducing balance basis.
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%
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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 2024
2. TANGIBLE FIXED ASSETS
| Cost 01-Jan-24 Additions Cost at 31-Dec-24 Depreciation 01-Jan-24 Charge Depreciation at 31-Dec-24 Net Book Value 31-Dec-24 Net Book Value 31-Dec-23 |
Freehold Improvements Fixtures Property to Fittings & Total Property Equipment 2024 £ £ £ £ 550,000 2,992 17,167 570,159 - - 9,944 9,944 550,000 2,992 27,111 580,103 192,065 2,283 12,801 207,149 18,333 178 1,466 19,977 210,398 2,461 14,267 227,126 339,602 531 12,844 352,977 357,935 709 4,366 363,010 |
|---|---|
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.
There is uncertainty on whether ownership of the property lies with the London Diocese or with St John's PCC. The PCC have been advised to continue receiving the rental income from the property while their property team continues to evaluate. The Trustees have decided to keep the property within the PCC accounts until there is a resolution by the Diocese, who have the final decision.
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2024: None as photocopier lease terminated in January 2024 31st December 2023: Photocopier lease payable at £372 per quarter
3. INVESTMENTS
| 3. INVESTMENTS | |||
|---|---|---|---|
| Unrestricted Endowment Endowment Funds Funds Funds |
|||
| Market Value at | 01-Jan-24 | Thomas Thomas Dickinson Lyon Charity CBF CCLA- COIF CCLA- COIF Deposit Investment Investment Fund Fund Fund £ £ £ 6,544 35,503 2,441 |
2024 TOTAL £ 44,488 |
| Additions | - - - |
- | |
| Disposals | - - - |
- | |
| Unrealised Gains/(Losses) | - 802 55 |
857 | |
| Transfer of Funds to Church Bank Account | - - - |
- | |
| Market Value at | 31-Dec-24 | 6,544 36,305 2,496 |
45,345 |
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 2024, dividend income totalling £988.24 from the Thomas Dickinson Endowment Fund is accrued.
The Charity holds investments with CCLA COIF Investment Fund. The Thomas Dickinson Investments Fund held 1,789 Investment Fund Shares at a unit cost of £20.2933 per share. The investment value was £36,304.71 as at the 31st December 2024.
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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 2024
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 2024, dividend income totalling £69.95 from the Thomas Lyon Endowment Fund is accrued.
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 £20.2933 per share. The investment value was £2,496.08 as at the 31st December 2024.
4. INCOME
| Note | Unrestricted | Endowment | Designated | Restricted | TOTAL | TOTAL | |
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | 2024 | 2023 | ||
| a) Donations & Legacies | £ | £ | £ | £ | £ | £ | |
| Gifts & Donations | 10 | 55,676 | - | 423 | - | 56,099 | 63,840 |
| Gift Aid Tax Recoverable | 13,000 | - | - | - | 13,000 | 13,676 | |
| Grants | 11 | - | - | - | 93,750 | 93,750 | - |
| Special Collections | - | - | - | - | - | 1,755 | |
| 68,676 | - | 423 | 93,750 | 162,849 | 79,271 | ||
| 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 | 350 | - | - | - | 350 | - | |
| Rental Income | 94,175 | - | - | - | 94,175 | 96,343 | |
| 94,525 | - | - | - | 94,525 | 96,343 | ||
| c) Income from Investments | |||||||
| Bank Interest and Dividends | 3 | 592 | - | - | - | 592 | 1,290 |
| HMRC PAYE Interest on Refund | 18 | - | - | - | 18 | - | |
| 610 | - | - | - | 610 | 1,290 | ||
| d) Other Incoming Resources | |||||||
| Other Income | 607 | - | - | - | 607 | 44 | |
| Weddings and Funerals | 474 | - | - | - | 474 | 411 | |
| 1,081 | - | - | - | 1,081 | 455 |
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 2024
5. EXPENDITURE
| Note a) Cost of Charitable Activities Bank Charges Church Mission Support Church Running Costs (Utilities) Cleaning Costs Clergy Expenses Curate House Repairs and Maintenance Depreciation Expense Equipment and Software Costs Gifts & Donations License & Subscriptions London Diocese - Common Fund Major Building Works Marketing, PR and Web Design Office Costs Organ Costs Outreach, Activities & 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 2024 2023 £ £ £ £ £ £ 114 - - - 114 129 - - - - - - 16,421 - - - 16,421 20,648 2,384 - - - 2,384 1,551 62 - - - 62 - 3,942 - - - 3,942 2,900 19,977 - - - 19,977 20,026 3,205 - - - 3,205 492 - - - - - 600 563 - - - 563 1,488 55,000 - - - 55,000 50,000 42,790 - - 87,613 130,403 - - - - - - 244 1,513 - - - 1,513 2,928 1,911 - - - 1,911 1,125 3,410 - 140 - 3,550 4,921 5,100 - - - 5,100 5,100 9,537 - - - 9,537 14,268 20,505 - - - 20,505 17,520 355 - - - 355 - 871 - - - 871 776 - - - - - 30 99 - - - 99 1,357 187,759 - 140 87,613 275,512 146,103 10,544 - - - 10,544 9,528 1,605 - - - 1,605 1,470 3,210 - - - 3,210 1,050 15,359 - - - 15,359 12,048 |
|---|---|
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 2024
6. CASH AT BANK AND IN HAND
| Cash at Bank and in Hand | Unrestricted Endowment Designated Restricted Funds Funds Funds Funds 31-Dec-24 31-Dec-23 £ £ £ £ £ £ 74,867 5,758 145,725 18,535 244,885 262,340 74,867 5,758 145,725 18,535 244,885 262,340 |
|---|---|
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-24 31-Dec-23 £ £ £ £ £ £ 5,510 - - - 5,510 5,920 13,000 - - - 13,000 13,676 1,568 - - - 1,568 1,040 10,000 - - - 10,000 10,000 30,078 - - - 30,078 30,636 |
|---|---|
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. The charity is currently insolvent. The receivers are unable to confirm the quantum or timing of the repayment of the loan. This is disclosed as a contingent liability in note 18 as its repayment is uncertain.
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-24 31-Dec-23 £ £ £ £ £ £ 9,115 - - - 9,115 5,559 1,605 - - - 1,605 1,470 69 - - - 69 - 10,789 - - - 10,789 7,029 |
|---|---|
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.
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 2024
10. DESIGNATED FUNDS
----- Start of picture text -----
CURRENT YEAR Balance Transfers Transfers Balance
01-Jan-24 In Income Expenditure Out 31-Dec-24
£ £ £ £ £ £
Re-ordering Project 146,035 - - - - 146,035
Soup and Stretch Fund (593) - 423 (140) - (310)
145,442 - 423 (140) - 145,725
There were no transfers into or out of designated funds in 2024.
PRIOR 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)
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 Cloudesley Grant for Building Maintenance Cloudesley Grant for Audio Visual Project Fabric Fund Upper Holloway Fellowship of Churches Church Heating Fund |
Balance Transfers Transfers Balance 01-Jan-24 In Income Expenditure Out 31-Dec-24 £ £ £ £ £ £ 8,521 - - - - 8,521 - - 83,750 (83,750) - - - - 10,000 - (9,944) 56 13,081 - - (3,863) - 9,218 590 - - - - 590 - 150 - - - - 150 |
|---|---|
| 22,342 - 93,750 (87,613) (9,944) 18,535 |
|
| 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 |
The £9,944 transfer out of the Cloudesley Grant for Audio Visual Project represents fixed assets (staging and platform) purchased from restricted funds. The restriction was fulfilled upon the purchase of those assets, enabling them to be transferred to general funds to be used for any charitable purpose. The remaining £56 is held for the purchase of further audio visual equipment.
Material individual funds in 2024 are considered to be the following:
Cloudesley Grant for Building Maintenance
Cloudesley Grant for Audio Visual Project
Fabric Fund (for the ongoing maintenance and improvement to the fabric of the Church)
The restricted funds are wholly represented by cash reserves held and are to be expended as specified above.
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 2024
12. ANALYSIS OF NET ASSETS BY FUND
| CURRENT YEAR | Unrestricted | Unrestricted | Endowment | Designated | Restricted | 31-Dec-24 |
|---|---|---|---|---|---|---|
| Fund | Fund | Fund | Fund | Total | ||
| £ | £ | £ | £ | £ | ||
| Fixed Assets and Investments | 359,521 | 38,801 | - | - | 398,322 | |
| Current Assets | 94,156 | 5,758 | 145,725 | 18,535 | 264,174 | |
| Liabilities (due in more than one year) | - | - | - | - | - | |
| 453,677 | 44,559 | 145,725 | 18,535 | 662,496 | ||
| PRIOR YEAR Fixed Assets and Investments |
Unrestricted Fund £ 369,554 |
Endowment Fund £ 37,944 |
Designated Fund £ - |
Restricted Fund £ - |
31-Dec-23 Total £ 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 | ||
| 13. STAFF COSTS AND NUMBERS | ||||||
| Gross Wages and Salaries via Payroll | 2024 £ 11,206 |
2023 £ 5,486 |
||||
| Gross Wages and Salaries - self employed | 8,591 | 11,473 | ||||
| Payroll Processing Fees | 543 | 455 | ||||
| Employer's National Insurance Costs | 334 | - | ||||
| Less Employer's Allowance | (334) | - | ||||
| Employer's Pension Contributions | 165 | 106 | ||||
| 20,505 | 17,520 | |||||
| Employees were engaged in each of the following activities: | ||||||
| 2024 | 2023 | |||||
| Activities in furtherance of organisation's objects | 1 | 1 |
The PCC paid two Worship Leaders, an Administrator and Youth Ministry Worker on a self-employed basis during 2024. The total amount paid to self employed personnel was £8,591. They were responsible for reporting their own tax and national insurance obligations to HMRC. During 2024, the PCC employed one staff member and operated a PAYE scheme. No employees received emoluments in excess of £60,000 (2023: None).
The key management personnel are considered to be the PCC Members. One PCC Member received self employment payments (£191) for their role as Parish Administrator until their resignation in March 2024. One PCC member received remuneration £11,371) as an employee for their role as Parish Administrator. Therefore, the total benefits paid to key management personnel (including employer national insurance and employer pension contributions) was £11,562 (2023: £6,488).
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 2024 financial year PCC Member Mrs E. Warnasuriya received gross remuneration via PAYE of £0 (2023: £5,486) 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 £0 (2023: £106) 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 in 2024 under self employment of £191 (2023: £896).
During the 2024 financial year, a related party to Trustee N Pinkney (her daughter, who was also a PCC member over the period March 2024 to December 2024) received gross remuneration via PAYE of £11,207 (2023: £0) in her capacity of Operations and Admin Lead for the Parish of St John Upper Holloway in furthering the Charity's objectives. The PCC also paid employer pension contributions of £165 (2023: £0) on her behalf.
The PCC relies on the provisions contained in section 3a of its governing document to pay a PCC member.
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 2024
14. PAYMENTS TO PCC MEMBERS AND RELATED PARTIES (continued)
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.
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
18. CONTINGENT LIABILITY
As disclosed in note 7 of these financial statements, there is uncertainty regarding a loan of £10,000 that the PCC made to Red Balloon charity in 2022, that has subsequently become insolvent.
23