Charity Registration Number : 1205497
## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST JAMES THE GREAT CLAPTON**
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST JAMES THE GREAT CLAPTON**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
FOR THE YEAR ENDED 31 DECEMBER 2024
|**Trustee**|The Revd Shana Maloney|
|---|---|
|**Charity Number**|1205497|
|**Registered Ofce**|233 Lower Clapton Road|
||London|
||London|
||E5 8EH|
|**Bankers**|HSBC UK|
|**Independent Examiner**|Julius and Julius and Associates LLP|
||70, Clapton Square|
||London|
||E5 8HW|
## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST JAMES THE GREAT CLAPTON**
## **CONTENTS**
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees' Report
Independent Examiner's Report
Receipts and Payments
Statement of Assets and Liabilities
Notes to the Financial Statements
## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST JAMES THE GREAT CLAPTON**
## **TRUSTEES' REPORT**
## FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024 .
The Parochial Church Council (PCC) of St James, Clapton has the responsibility, together with the Chair, The Reverend Shana Maloney, for promoting in the ecclesiastical parish the whole mission of the Church—pastoral, evangelistic, social, and ecumenical.
In carrying out this purpose, the PCC seeks to enable the Church to play its part in the life of the local community and in the wider mission of the Church of England. This includes providing regular public worship open to all, offering spiritual and practical support to parishioners, and maintaining an active Christian presence in the community.
The PCC is also responsible for the care, maintenance, and improvement of the church buildings and associated properties, ensuring that they are properly managed and preserved for worship and community use.
The Trustees confirm that, in planning and delivering the Church’s activities, they have had due regard to the Charity Commission’s guidance on public benefit, and are satisfied that the Church’s work continues to advance the Christian faith for the benefit of the public.
Electoral Report:
There were 88 people on the Church’s Electoral Roll for2024at St James the Great Church, Clapton.
This report was approved by the trustees and signed on its behalf by:
------------------------------------------------------------------------
**The Revd Shana Maloney PCC Chair, Trustee.**
Date : **31 October 2025**
Page 1 of 9
## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST JAMES THE GREAT CLAPTON INDEPENDENT EXAMINER'S REPORT**
## FOR THE YEAR ENDED 31 DECEMBER 2024
Independent Examiner’s Report to the Trustees of The Pcc Of The Ecclesiastical Parish Of St James The Great Clapton
I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which consists of the statement of financial activities,balance sheet and the related notes
## **Responsibilities and basis of report**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act')
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner's Statement**
The charity’s gross income is below £250,000, and I am qualified to undertake the examination by being a qualified member of ICAEW
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
## Name: **Anthony Faleye ACA**
for and on behalf of **Julius and Julius and Associates LLP**
Date: **30 October 2025**
Page 2 of 9
## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST JAMES THE GREAT CLAPTON**
## **RECEIPTS AND PAYMENTS**
FOR THE YEAR ENDED 31 DECEMBER 2024
|**Categories**
**Unrestricted funds**
**Receipts**
Donation and gifts
47,725.74
Rental and leasing income
38,359.85
**Sub total**
**86,085.59**
**Total receipts**
**86,085.59**
**Payments**
Bank charges
1,333.72
Rent collection, property repairs and maintenance charges
3,477.60
Charity management & administration
29,602.26
Charity running cost
2,332.62
Other Expenditure
1,681.41
Music
17,853.26
Energy
8,412.89
Gardening
650.00
Common Fund
37,000.00
Internet
356.50
Ecclesiastical Insurance
8,859.42
**Sub total**
**111,559.68**
**Total Payments**
**111,559.68**
Net of receipts/(payments)
(25,474.09)
Cash funds last year end
-
**Cash funds this year end**
**(25,474.09)**|**Total funds**
47,725.74
38,359.85
**86,085.59**|
|---|---|
||**86,085.59**|
||1,333.72
3,477.60
29,602.26
2,332.62
1,681.41
17,853.26
8,412.89
650.00
37,000.00
356.50
8,859.42
**111,559.68**|
||**111,559.68**|
||(25,474.09)
-|
||**(25,474.09)**|
Page 3 of 9
## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST JAMES THE GREAT CLAPTON STATEMENT OF ASSETS AND LIABILITIES**
FOR THE YEAR ENDED 31 DECEMBER 2024
|**Categories**|**Details**|**Unrestricted funds**|**Restricted income**
**funds**|
|---|---|---|---|
|**Cash funds**||||
||Parochial Church Council of St
James Clapton|30,348.08|-|
||**Total Cash Funds**|**30,348.08**|**-**|
||**Details**|**Fund to which asset**
**belongs**|**Cost (optional)**|
|**Assets retained for the**||||
|**charity’s own use**||||
||Furniture and Musical
Instruments|Unrestricted Funds|310,912.00|
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The trustee acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board on 31 October 2025 and signed on its behalf by:
**The Revd Shana Maloney PCC Chair, Trustee.**
Date : **31 October 2025**
Page 4 of 9
## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST JAMES THE GREAT CLAPTON**
## **NOTES TO THE FINANCIAL STATEMENTS**
FOR THE YEAR ENDED 31 DECEMBER 2024
## **1. Accounting Policies**
The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.
## **1.1 Basis of Preparation**
The financial statements have been prepared under thehistorical cost convention and in accordance with the Statement ofRecommended Practice: Accounting and Reporting by Charities (SORP FRS 102),the Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS 102), and the requirements of the Charities Act 2011.
The Church is a public benefit entity as defined by FRS 102.
## **1.2 Income Recognition**
Income is recognised when:
The Church has entitlement to the funds, It is probable that the income will be received, and The amount can be measured reliably.
Specific sources include:
Donations and offerings are recognised when received. Grants and legacies are recognised when entitlement and measurable value are confirmed. Gift Aid income is included when the related donations are recognised. Rental or hire income from church premises is recognised on cash basis.
## **1.3 Expenditure Recognition**
Expenditure is recognised on cash basis.
Expenditure is classified under the following headings:
Charitable activities – expenditure directly relating to the Church’s activities. Governance costs – expenses related to the administration of thecharity and compliance with statutory obligations.
## **1.4 Tangible Fixed Assets**
Individual items of furniture, equipment, and other tangiblefixed assets costing £2,000 or more are capitalised. Itemscosting below £2,000 are written off in full in the year of acquisition.
Capitalised assets are recorded at cost (or fair value ifdonated) and are depreciated on a straight-line basis over theirestimated useful lives, typically between 3 and 10 years depending onthe asset’s nature and use.
The capitalisation threshold and depreciation rates arereviewed annually to ensure they remain appropriate to the Church’s operations.
## **1.5 Donated Assets**
Donated assets are recognised at their fair value onthe date of donation if the value can be measured reliably.
Assets valued at £2,000 or more are capitalised and depreciated overtheir expected useful lives. Items below £2,000 are expensed in the year of receipt.
If fair value cannot be determined reliably, the donation is disclosed in thenotes to the accounts but not capitalised.
Page 5 of 9
## **1.6 Fund Accounting**
Funds held by the Church are classified as follows:
Unrestricted funds: Income available for general use at the discretion of the trustees. Restricted funds: Income used in accordance with specific purposes imposed by donors or funders. Designated funds: Unrestricted funds set aside by the trustees for a particular purpose.
Transfers between funds are made as approved by the trusteesand are disclosed in the notes to the accounts.
## **1.7 Debtors and Creditors**
Debtors are recognised at the settlement amount due.Prepayments are valued at the amount prepaid.
Creditors are recognised at the amount the Church expects to pay to settle itsobligations.
## **1.8 Cash and Cash Equivalents**
Cash and cash equivalents include cash in hand, depositsheld at call with banks, and other short-term, highly liquid investments withoriginal maturities of three months or less.
## **1.9 Volunteers**
The value of voluntary service provided by members of thecongregation and community is not included in the financial statements,as it is impractical to measure reliably. However, the trustees acknowledge thesignificant contribution of volunteers to the Church’s activities.
## **1.10 Going Concern**
The trustees have reviewed the Church’s financial positionand consider it appropriate to prepare the accounts on a going concern basis,as there are no material uncertainties affecting the charity’s ability tocontinue its operations for the foreseeable future.
## **1.11 Taxation**
TheChurch is a registered charity and is therefore exempt from income andcorporation tax on income and gains falling within charitable exemptions,provided that income is applied for charitable purposes.
## **2. Income from Donations and Legacies**
|**Analysis**
Donation and gifts
**Total**
**3. Income from Investments**
**Analysis**
Rental and leasing income
**Total**
**4. Expenditure on Raising Funds**
**Analysis**
Rent collection, property repairs and maintenance charges
**Total**|**Unrestricted funds**
**£**
47,725.74
**47,725.74**
**Unrestricted funds**
**£**
38,359.85
**38,359.85**|**Total funds 2024**
**£**
47,725.74|
|---|---|---|
|||**47,725.74**|
|||**Total funds 2024**
**£**
38,359.85|
|||**38,359.85**|
|||**Total funds 2024**
**£**
3,477.60|
|||**3,477.60**|
Page 6 of 9
## **5. Expenditure on Charitable Activities**
|**Analysis**
Bank charges
Charity management & administration
Charity running cost
Music
Energy
Gardening
Internet
Ecclesiastical Insurance
**Total**
**6. Other Expenditure**
**Analysis**
Other Expenditure
Common Fund
**Total**|**Unrestricted funds**
**£**
1,681.41
37,000.00
**38,681.41**|**Total funds 2024**
**£**
1,333.72
29,602.26
2,332.62
17,853.26
8,412.89
650.00
356.50
8,859.42|
|---|---|---|
|||**69,400.67**|
|||**Total funds 2024**
**£**
1,681.41
37,000.00|
|||**38,681.41**|
## **6. Other Expenditure**
Page 7 of 9
## **7. Tangible Fixed Assets**
|**7.1 Cost or valuation**
At 01 January 2024
Additions
Disposals
Revaluations
Transfers
At 31 December 2024
**7.2 Depreciation and impairments**
At 01 January 2024
Charge for the year
Disposals
Revaluations
Transfers
At 31 December 2024
**7.3 Net book value**
At 01 January 2024
At 31 December 2024
**8. Cash at bank and in hand**
Parochial Church Council of St James Clapton
**Total**||**Furniture and**
**Musical**
**Instruments**
**£**
310,912.00
-
-
-
-
**310,912.00**
310,912.00
-
-
-
-
**310,912.00**
-
**-**
**Total funds 2024**
**£**
30,348.08|
|---|---|---|
|||**30,348.08**|
## **8. Cash at bank and in hand**
## **9. Charity funds**
## **9.1 Details of material funds held and movements during the CURRENT reporting period**
|**Fund names**
**Unrestricted**
**funds**
**General Fund**
**Total**|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**|
|---|---|---|---|---|---|---|
||**-**|**86,085.59**
**111,559.68**
**-**|||**-**|**(25,474.09)**|
||||||||
||**-**|**86,085.59**
**111,559.68**
**-**|||**-**|**(25,474.09)**|
Page 8 of 9
## **10. Status**
The Parochial Church Council (PCC) is a corporate bodyestablished by the Church of England. It is constituted and governed by theParochial Church Councils (Powers) Measure 1956 (As amended) and the ChurchRepresentation Rules (2011). The members of the PCC are its trustees undercharity law and are referred to as such throughout this report.
Operations Address: St James Vicarage, 105 MayolaRoad. E5 0RG
Chair: The Revd Shana Maloney
Churchwardens: Michael Blanchard (Deceased 29thOctober 2024), Robert Nsiiro.
## **11. Rental Income**
ThePCC manages the use of the three church halls. The smallest hall has no fixedtenant. The space is rented to charities and churches on an hourly basis.Consequently, receipts from letting this hall vary from month to month.
## **12. Common Funds**
CommonFund (Parish Share) is the money given to the London Diocesan Fund (LDF) toenable it to maintain ministry and mission across the Diocese.
£37,000 was paid in fullfor 2024. For 2025, our contribution will rise to £40,500.
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