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2023-12-31-accounts

French Protestant Church of London Incorporated by Royal Charter in 1550 8-9 Soho Square W1D 3QD www.egliseprotestantelondres.org.uk

REPORT AND ACCOUNTS

FOR THE YEAR ENDED

31 DECEMBER 2023

The French Protestant Church of London

L’Eglise protestante française de Londres

Registered Charity Number: 1070623

FRENCH PROTESTANT CHURCH OF LONDON

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity No. 1070623
TRUSTEES
President F. Lerede
Vice President T. Lavergne
Treasurer G. Leugue
Secretary P. Woods
Members of the Consistory S. Desmarais (Pastor to August 2023)
P Renaud-Grosbras (Pastor from September 2023)
M. Chiesa (to August 2023)
B. Fougier
J. Hagg
F. de Maleprade (to October 2023)
G. Nègre
A. Roberts
Address 8 - 9 Soho Square
London
W1D 3QD
Bankers Lloyds Bank plc (Church Fund)
PO Box 1000
Andover
BX11 1LT
Barclays Bank plc (Solidarity Fund)
Leicester
LE87 2BB
Independent Examiner Olayinka Tomori ACA DChA
Longmeade Consult Ltd
The Old Rectory
Springhead Road
Northfleet, Kent
DA11 8HN

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FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The financial statements have been prepared in accordance with the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition effective 1 January 2019) and comply with the charity’s trust deed.

TERMS & GOVERNING SCHEMES

OBJECTS & ACTIVITIES OF THE CHARITY

The French Protestant Church of London is the spiritual home of the French-speaking community of Reformed tradition in the UK.

King Edward VI incorporated the Church by Royal Charter on 24th July 1550. The Church was located on Threadneedle Street for almost three centuries, until the building was destroyed to create space around the Royal Exchange. In 1687 the Church opened a secondary place of worship in Spitalfields that, along with other French churches founded in London at the time, served the many Huguenots seeking refuge from the persecutions of Louis XIV. The secondary church was sold in 1809 but the building at the corner of Brick Lane and Fournier Street still exists. Since 1893 the Church has been located in Soho Square. Its Grade II*-listed building was designed by the famous architect Sir Aston Webb.

The Charity’s primary aim is to provide Christian worship and services in the Reformed tradition with a special focus on the French-speaking community of London. This is accomplished mainly through the celebration of church services open to all, through community activities and religious education.

An important part of the Charity’s activities is also to provide pastoral care for parishioners and to help the people who fall into hardship.

The French Protestant Church also holds a collection of manuscripts and early books, housed in a room specially designed by Aston Webb. They are evidence of the Charity’s early roots: from the Royal Charters granted for the opening of new churches, to the minutes of the meetings of the Consistory or the poor refugee relief, or editions of first reformed Bibles. Researchers or people having a proven interest in the history of the church and of the Huguenot community can have access to the collection, by appointment. The governing body of the Church takes all necessary measures to keep the contents of the Library in good condition.

The Trustees are appointed by the Consistory (governing body) of the Church, subject to tacit approval by the members of the Church.

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FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

PUBLIC BENEFIT

The Trustees confirm that they have carefully referred to the guidance contained in the Charity Commission’s general guidance on Public Benefit when reviewing the Charity’s aims and objectives, and in planning future activities. In particular, Trustees consider how planned activities will contribute to the aims and objectives they have set.

ACHIEVEMENTS AND REVIEW OF THE YEAR

During 2023, the French Protestant Church of London experienced a year of transition, reflection, and renewed community engagement.

The departure of Pastor Stéphane Desmarais and the arrival of Pastor Pascale Renaud-Grosbras marked significant changes, alongside a robust calendar of events, services, and charitable activities that continued to enrich our congregation's spiritual and communal life:

Services, pastoral care and spiritual life

Services are celebrated in French on Sundays throughout the year, except in August.

Attendance ranges from 20 to 80 people, and each service is followed by ‘le verre de l’amitié,’ a gesture of welcome and inclusion with a shared glass of wine.

The year 2023 was marked by significant events and transitions within our church community.

Farewell to Pastor Stéphane and Cindy Desmarais

In June, we bid farewell to Pastor Stéphane Desmarais and his wife Cindy, who served our community with dedication for ten years. Their departure was marked by a special service on 25 June, which was followed by a communal buffet and a festive afternoon. This event provided an opportunity for the congregation to express their gratitude and appreciation for Stéphane and Cindy's commitment and contributions over the past decade.

4

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

Welcoming Pastor Pascale Renaud-Grosbras

Following an invitation to preach in our church and to meet the consistory’s members in March 2023, we welcomed Pastor Pascale Renaud-Grosbras during the summer.

The application for post-Brexit sponsor status and obtaining the visa for the new pastor consumed a lot of time and energy but were ultimately successful.

Pascale started her ministry in September 2023.

Her arrival was celebrated with a special Culte de Rentrée on 17th September, which included a buffet meal and a gathering of parishioners. She was also welcomed in a more intimate setting by the members of the Consistory -and their families - in an away day at the family home of Thibault Lavergne.

Regular Services and Special Celebrations

Baptisms and Other Religious Events

5

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

Engagement with Other Communities

Regular groups

In addition to religious education and leading the young professionals’ group, the pastor also facilitated a Bible study group once a month. Pascale Renaud-Grosbras chose to focus on the parables from the Gospel of Luke.

Charitable activities

Both directly and via the French Huguenot Church of London Charitable Trust, we have been supporting charities such as Dispensaire Français (French Clinic – DF-SFB), the Refugee centre at Notre Dame de France and the West London Mission for their work on Night Shelter for homeless people.

The Christmas service collection was given to the Trussel Trust .

We were also very pleased to be able to help the Jonas Foundation UK, a foundation which was born in the church’s basement and whose aim is to provide musical education to disadvantaged children in London for the UK branch.

The collection made during Remembrance Sunday was given to the Bleuets de France.

Outreach and communication

Our bilingual website (http://www.egliseprotestantelondres.org.uk/en), which presents the church activities, its history and heritage as well as the renovation project, remained our main communication channel in 2023.

Our monthly electronic newsletter was sent via Mailchimp from December 2023 (to comply with the GDPR regulation) to current and ex-parish members around the world (c. 340 recipients). They used to be sent via Mailpoet through our website. The monthly newsletter includes a word from the Pastor, as well as focus on the life of the church and the upcoming events.

6

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

Events

We were pleased to be able to open the doors of our church widely by organising or co-organising - several events and conferences:

Heritage, Library and Archives

The conservation team was able to meet again once a week on a regular basis except for the summer months. The team has nonetheless once again been reduced in size as two members, including Cindy Desmarais, moved back to France.

To address this issue and speed up the long and painstaking process to identify the books that will need a more thorough studio restoration, and to stabilise others, another member joined the team in early 2024. We thank the whole team for their service.

Consequently, access to the library has been very limited.

Rental strategy

Our part-time office and venue manager, Karine Lelieur, who was recruited in September 2021, had to leave us for personal reasons in June 2022. At that time, our rooms were rented out on a regular basis to five different associations or small businesses, all of whom had strong links to the French community, providing a monthly income of slightly over £3,000. However, with the departure (relocation to France) of our principal source of income, Le Petit Journal, in September 2022, our rental income significantly decreased.

We were able to finalise the hiring of a new manager, Andreea Morosanu, in July 2023, after more than a year of vacancy in the position. Her priority is to implement an aggressive rental policy to increase our revenues, not only through ad hoc events but also by seeking long-term tenants for our basement rooms.

In the interim, Cindy Desmarais, with the help of Bénédicte Fougier, kindly and efficiently took over most of the managerial duties to handle the day-to-day rental challenges. We cannot thank Cindy Desmarais enough for the invaluable help she provided to the consistory throughout this period.

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FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

Roof and façade renovation

The Consistory of the French Protestant Church of London has advanced the planning for the final phase of the renovation, focusing on the main roof and the façade of the church. In 2018, as part of the first phase of the renovation, urgent issues threatening the building, such as missing slates, water infiltration, and missing joints, were addressed. Despite these urgent repairs and the regular maintenance undertaken by Wallwalkers (the last one in October 2022), the main roof has now reached the end of its lifespan and requires a complete overhaul.

In 2023, we stepped up the preparatory works with our architects to ensure the project’s success. Caroe Architecture Ltd., led by senior architect Alanah Honey, has been appointed by the consistory to guide us through this essential renovation project.

FINANCIAL REVIEW

The key source of income for the Church are grants from a related charity, the French Huguenot Church of London Charitable Trust (registered charity number: 249017). In 2023, the Church received £152.2k (2022: £129k) from this charity, all of which was unrestricted.

The French Huguenot Church of London Charitable Trust manages the assets accumulated by the Huguenot churches of London over the centuries and shares the income generated between three permanent endowment funds. The Church Fund goes to our charity, the Education Fund supports students and the Hardship Fund seeks to alleviate poverty. This affiliated charity is managed by three trustees nominated by the Consistory and six to ten co-opted trustees who, though not necessarily members of the Church, have a particular interest for and knowledge of the history of Huguenots in the UK.

The Church also receives donations and gifts from its members and other generous benefactors. In addition to this voluntary income, additional inflow is generated from other trading activities (letting of premises and visits) and from bank interest. Total income in the year was £213.7k (2022: £214.3k). While income was stable between the years, reductions in general donations and lettings income from the previous year were offset by a £23k rise in donations from the French Huguenot Church.

Total expenditure was £258.9k (2022: £182.3k). The recommencement of renovation works, other repairs and the relocation costs due to the change in pastoral leadership, were the key reasons for the rise in expenditure. We faced exceptional costs related to the departure of Stéphane Desmarais and his wife Cindy, as well as the arrival of pastor Pascale Renaud-Grobras. The expenses solely associated with applying for sponsor status, necessary for the nowrequired work visa post-Brexit, have amounted to £6.5k, not including relocation costs. Additionally, we incurred significant expenses defending our interests in the 2-4 Dean Street/7 Soho Square development project by Hines. We have spent nearly £20,000 in professional consultation fees, including those of our architects, to protect our interests during the initial application process. Furthermore, the maintenance costs of our historic building have skyrocketed in 2023 as a consequence of inflation. Energy expenses have tripled, and the general upkeep costs (insurance, maintenance, compliance) are heavily weighing on our resources.

The Consistory continues to maintain tight financial and budgetary controls to ensure resources are applied efficiently.

Investment powers and performance

The charity has the power to make any investment which the Trustees see fit.

The Church’s investment policy is conservative. It is primarily intended to protect the capital value of investments. Surpluses are currently held as cash balances, but trustees will keep this policy under review.

8

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

RESERVES POLICY

The Unrestricted General Funds are available for use by the Trustees for any of the Charity’s purposes. Restricted funds consist of the Property Fund and Religious Fund. These funds represent donations received for the renovation works of the premises and for religious education.

At the end of 2023, total funds were £1,878.7k comprising £732.9k in Restricted Funds and £1,145.8k of Unrestricted General Funds. Of the General Funds, fixed assets not covered by the Restricted Property Fund account for £675.8k with the remainder of £470.0k being the charity’s ‘free reserves’.

The intention of the Trustees is to maintain free reserves at around one year of recurring expenditure (£190k). The additional reserves will continue to be committed to the maintenance of the church premises which require substantial investments based on its age and listed building status.

GOVERNANCE AND MANAGEMENT

The governance of the Consistory did not change significantly in 2023. Fabien Lerede, as president, Thibault Lavergne as vice-president, Ghislain Leugue as treasurer, and Phoebe Woods as secretary were unanimously re-elected for another year in July 2023.

Three members left the Consistory: our pastor Stéphane Desmarais, who was replaced by Pascale Renaud-Grosbras from September, Mathilde Chiesa in August 2023 and Florence de Maleprade in October 2023, who relocated in France.

In accordance with the Church’s scheme, Trustees are chosen from amongst the church’s members and elected by the Consistory. The Consistory’s decision is thereafter announced during Sunday’s service for a 30-day period. If 10 or more members of the congregation oppose the election, it is then submitted to the Church’s general assembly. The day-to-day management of the church’s affairs is delegated to the pastor, with required support from members of the Consistory and volunteers.

PLANS FOR THE FUTURE

It was the reaffirmed aim of the trustees to provide a spiritual place for everyone to find peace, contemplation and reflection with a strong focus on the French-speaking community (mostly French nationals and francophones from African countries), its new-comers, young students or professionals to facilitate their integration and wellbeing to ensure that they benefit from our presence and facilities to find friendship, emotional support and a sense of belonging. We want to focus on strengthening our relationship with the charities we partner with as well as the development of a program of cultural events, e.g. conferences, book clubs, film showings.

We plan to continue the project of conservation of the rare books and archives held in the library.

After a thorough process of reflection, the Consistory decided not to prolong Pascale Renaud-Grosbras's ministry beyond her initial one-year term. At the time of writing, she has led her last service on June 9th and has started transitioning to her new ministry role in Saint-Malo. We thank her for her service to our community and leading our regular groups.

Looking ahead, we are embarking on a new phase for our church community. From September, Phoebe Woods will assume the role of deacon, becoming our principal preacher and coordinating all religious activities. She will be supported by guest pastors and the wider church community. We are excited about this new direction and believe it will offer unique opportunities for growth and enhanced engagement within our congregation.

9

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

APPRECIATION AND THANKS

We are most grateful for Stéphane Desmarais’ spiritual guidance over the last ten years and his wife Cindy’s commitment in always exploring new ways to reach out to our community in such a high spirit and enthusiasm.

We were very sad to see them leave at the end of the Summer of 2023.

We would also like to thank all the volunteers at the French Church, especially the ones in charge of the religious education and the conservation of the books and archives, as well as the broader community for their continued valuable support and their presence at our side.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees of the charity to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations 2008 and with the charity’s own constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 31 August 2024 and signed on their behalf by:

G Leugue Trustee

10

FRENCH PROTESTANT CHURCH OF LONDON

INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF

THE FRENCH PROTESTANT CHURCH OF LONDON

I report to the charity trustees on my examination of the accounts of The French Protestant Church of London (the Charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust’s accounts carried out under section 145 of the 2011 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

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

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 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.

Olayinka Tomori ACA DChA

Longmeade Consult Ltd The Old Rectory Springhead Road Northfleet Kent DA11 8HN

31 August 2024

11

FRENCH PROTESTANT CHURCH OF LONDON

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Unrestricted Restricted Total Total
Notes £ £ £ £
INCOME AND ENDOWMENTS:
Voluntary income
Donations and gifts 27,534 - 27,534 38,882
Grants receivable - the French Huguenot
Church of London Charitable Trust 11 152,222 - 152,222 129,000
Other grants receivable 10 - 6,201 6,201 -
Other trading activities
Letting of premises and Library visits 27,285 - 27,285 46,388
Investment income
Bank interest 494 - 494 47
---------------- ---------------- ---------------- ----------------
207,535 6,201 213,736 214,317
----------------- ----------------- ----------------- -----------------
EXPENDITURE: 2
Charitable activities
Donations and grants paid 4,436 - 4,436 3,201
Operating expenses of the Church 218,383 36,076 254,459 179,119
---------------- ---------------- ---------------- ----------------
222,819 36,076 258,895 182,320
----------------- ------------------ ------------------ ------------------
NET MOVEMENT IN FUNDS (15,284) (29,875) (45,159) 31,997
Fund balances brought forward 1,161,072 762,768 1,923,840 1,891,843
--------------------- ----------------- ---------------------- ----------------------
Fund Balances carried forward £1,145,788 £732,893 £1,878,681 £1,923,840
========== ======== =========== ==========

All amounts arise from continuing activities and there are no recognised gains or losses other than those shown above in the Statement of Financial Activities.

The comparative Statement of Financial Activities is shown in Note 12 of these financial statements.

The accompanying notes form part of these financial statements.

12

FRENCH PROTESTANT CHURCH OF LONDON

BALANCE SHEET AS AT 31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible fixed assets 5 1,404,588 1,458,433
-------------------- --------------------
CURRENT ASSETS
Debtors 6 59,872 4,274
Cash at bank and in hand 417,365 465,494
-------------------- --------------------
477,237 469,768
CURRENT LIABILITIES
Creditors: Amounts falling due within one 7 (3,144) (4,361)
year
------------------- -------------------
NET CURRENT ASSETS 474,093 465,407
------------------- -------------------
TOTAL ASSETS £1,878,681 £1,923,840
========== ==========
FUNDS: 9
Unrestricted General Funds 1,145,788 1,161,072
Restricted Funds 732,893 762,768
--------------------- ---------------------
£1,878,681 £1,923,840
========== ==========

Approved by the Board of Trustees and authorised for issue on 31 August 2024 and signed on their behalf:

G Leugue Trustee

The accompanying notes form part of these financial statements.

13

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition effective 1 January 2019) - (Charities SORP (FRS 102)) and the Charities Act 2011. 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.

The Trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern.

Donations and Legacies

Donations and legacies are recognised when receivable or when the charity becomes legally entitled to them and the value can be estimated with reasonable certainty. Receipts of property, investments or other gifts in kind are included at market value.

Expenditure

Charitable expenditure consists of all expenditure relating to the objects of the Charity. All costs are directly attributable to the activities under which they have been analysed. Irrecoverable VAT is included with the category of expense to which it relates.

Governance costs which form part of support costs, include expenditure on the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Pension Contributions

The Church makes contributions into a defined contribution pension scheme for the pastor. Contributions are shown in the Statement of Financial Activities as they are paid.

Fixed assets

The Church property at 9 Soho Square dates back to the late nineteenth century and no record of original cost is available. A policy of revaluation is not being adopted. The property is recognised at its deemed historic cost of £1. The Trustees have chosen to adopt this policy as whilst it is believed that the market value, both at the time of acquisition and at the balance sheet date, was significantly in excess of the deemed cost, it is not possible to obtain a reliable estimate of the market value at either date, as conventional valuation techniques are inappropriate for the unique and historical nature of the building. The approximate insurance value is given as £12.0m.

Renovation of the Church property is ongoing. Improvements have been capitalised and will be depreciated over their useful economic life, which is currently estimated at:

Individual assets with a cost under £1,000 are generally expensed through the Statement of Financial Activities in the year of acquisition.

Debtors

Trade and any other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Creditors and provisions

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

Foreign Currency Transactions

Transactions in foreign currencies are recognised at the rate of exchange at the date of the transaction or at an average exchange rate for the year. Monetary assets and liabilities are translated into sterling at the exchange rate on the balance sheet date. All exchange differences are recognised through the Statement of Financial Activities. The charity does not own any non-monetary assets abroad.

14

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued)

1. ACCOUNTING POLICIES (continued)

Statement of cash flows

The charity qualifies as a small charity, hence is exempt from the requirement to produce a Statement of Cash Flows.

Fund accounting

Unrestricted funds are available to be spent in accordance with the charitable objectives in furtherance of the purpose of the charity. Restricted funds are those funds where the donor has specified the purpose to which it must be applied and/or where the charity has committed itself to use the funds for a specific purpose when it requested the donation.

2. EXPENDITURE 2023 2022
Unrestricted Restricted Total Total
£ £ £ £
Donations and grants paid (see below) 4,436 - 4,436 3,201
-------------------- -------------------- ------------------- -------------------
Operating expenses of the church:
Clergy and church activities
Activities - Misc expenses 1,224 - 1,224 539
Cleaning and Household 5,935 - 5,935 5,874
Electricity, water and gas 7,475 - 7,475 10,473
Food and drink supplies 1,593 1,593 1,538
Functions and events 5,263 - 5,263 1,720
Insurance and security 16,819 - 16,819 15,182
Organists and musicians 4,864 - 4,864 5,575
Pastor’s benefits 2,732 - 2,732 1,278
Pastor’s pension premium 10,439 - 10,439 8,061
Rates 1,849 - 1,849 1,721
Repairs and maintenance 25,950 - 25,950 1,806
Furniture and equipment 5,720 - 5,720 1,206
Renovation costs – non capital 16,703 6,201 22,904 7,112
Library and archives 174 - 174 1,556
Salaries, National Insurance, Pension 41,464 - 41,464 45,514
Travel expenses 3,809 - 3,809 879
Pastoral relocation expenses 15,850 - 15,850 -
------------------- ------------------- ------------------- -------------------
167,863 6,201 174,064 110,034
------------------- ------------------- ------------------- -------------------
Church administration
Accountancy fees 3,180 - 3,180 2,940
Bank charges 32 - 32 6
Computer and website 4,031 - 4,031 3,445
Internet, telephone and postage 2,130 - 2,130 2,064
Office Administration 8,379 - 8,379 6,247
Professional fees 7,997 - 7,997 433
Printing, stationery and equipment 801 - 801 104
------------------- ------------------ ------------------- -------------------
26,550 - 26,550 15,239
------------------- ------------------ ------------------- -------------------
Depreciation 23,970 29,875 53,845 53,846
------------------- ------------------ ------------------- -------------------
Operating expenses of the Church 218,383 36,076 254,459 179,119
========== ========= ========== ==========
Total Expenditure - 2023 £222,819 £36,076 £258,895 £182,320
========== ========= ========== ==========
Total Expenditure - 2022 £121,362 £60,958 £182,320
========== ========= ==========

15

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued)

2. EXPENDITURE (Continued) EXPENDITURE (Continued) EXPENDITURE (Continued) EXPENDITURE (Continued)
Unrestricted Restricted 2023 2022
£ £ £ £
Donations and and
grants		 paid
comprise:
CEEEFE 2,081 - 2,081 2,121
Others 2,355 - 2,355 1,080
-------------- ----------------- ----------------- -----------------
£4,436 £- £4,436 £3,201
======= ======== ======== ========
Total 2022 £3,201 £- £3,201
======= ======== ========
Included in expenditure are: £ £
Independent examiner’s fees – examination 1,380 1,320
Independent examiner’s fees - other 1,620 1,440
======= =======

Donations and grants paid in the prior year were unrestricted and therefore, the relevant comparatives are included in the disclosures above.

3. STAFF COSTS

STAFF COSTS
2023 2022
£ £
Gross salary 39,582 42,565
Social Security costs 906 1,867
Pension costs 11,415 9,143
------------------ ------------------
£51,903 £53,575
========= =========

The charity had only one employee in the year (2022: one). No employee’s remuneration in the year or in the previous year exceeded £60,000. The one employee is the pastor. He is key management personnel and is a Trustee of the charity ex officio.

4. RELATED PARTY TRANSACTIONS, TRUSTEES’ REMUNERATION AND EXPENSES

2023 2022
£ £
Salary and related costs 40,488 44,432
Pension contributions 11,415 9,143
------------------ ------------------
51,903 53,575
Other benefits 2,732 1,278
------------------ ------------------
£54,635 £54,853
========= =========

The only Trustee to receive remuneration is the pastor.

In line with Section 16 of the charity’s Governance Scheme, £3,395 (2022: £1,720) was paid to Wine Story, a limited company in which Thibault Lavergne, a member of the consistory, has interests, for the supply of food and wine for church events. No other related-party transaction occurred in 2023 (2022: None).

£3,684 of expenses were reimbursed to two trustees in the year (2022: £355 to one trustee).

16

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued)

5. FIXED ASSETS Property
Church Renovation Other
Fixed
Property (ongoing Assets Total
works)
£ £ £ £
Valuation:
At 1 January 2023 1 1,493,733 119,854 1,613,588
Additions - - - -
------------------ ------------------ ------------------ ------------------
At 31 December 2023 1 1,493,733 119,854 1,613,588
========= ========= ========= =========
Depreciation:
At 1 January 2023 - 59,750 95,405 155,155
Charge for the year - 29,875 23,970 53,845
------------------ ------------------ ------------------ ------------------
At 31 December 2023 - 89,625 119,375 209,000
========= ========= ========= =========
Net Book Value
At 31 December 2023 £1 £1,404,108 £479 £1,404,588
========= ========= ========= =========
At 31 December 2022 £1 £1,433,983 £24,449 £1,458,433
========= ========= ========= =========
6. DEBTORS 2023 2022
£ £
Debtor - CEEEFE 2,159 698
Other debtors 410 76
Prepayments and accrued income 57,303 3,500
------------------ ------------------
£59,872 £4,274
========= =========
Included in Prepayments and accrued income is £56,263 receivable from the French Huguenot Church of London Included in Prepayments and accrued income is £56,263 receivable from the French Huguenot Church of London
Charitable Trust (see Note 11).

17

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued)

7. CREDITORS 2023 2022
£ £
Other creditors 144 1,601
Accruals 3,000 2,760
------------------ ------------------
£3,144 £4,361
========= =========
8. STATEMENT OF FUNDS
At 1 Income Expenditure Expenditure
Transfers/		 At 31
January Gains/(losses) December
2023 2023
£ £ £ £ £
Unrestricted Funds 1,161,072 207,535 (222,819) - 1,145,788
-------------------- ------------------ ------------------ -------------------- --------------------
Restricted Funds:
Property Fund 758,669 6,201 (36,076) - 728,794
Religious Education Fund 4,099 - - - 4,099
-------------------- ------------------ ------------------ -------------------- --------------------
Total Restricted Funds 762,768 6,201 (36,076) - 732,893
-------------------- ------------------ ------------------ -------------------- --------------------
TOTAL FUNDS £1,923,840 £213,736 £(258,895) £ £1,878,681
========== ========= ========= ========== ==========
2022 COMPARATIVES At 1 Income Expenditure Expenditure
Transfers/		 At 31
January Gains/(losses) December
2022 2022
£ £ £ £ £
Unrestricted Funds 1,068,117 214,317 (121,362) - 1,161,072
-------------------- ------------------ ------------------ -------------------- --------------------
Restricted Funds:
Property Fund 819,627 - (60,958) - 758,669
Religious Education Fund 4,099 - - - 4,099
-------------------- ------------------ ------------------ -------------------- --------------------
Total Restricted Funds 823,726 - (60,958) - 762,768
-------------------- ------------------ ------------------ -------------------- --------------------
TOTAL FUNDS £1,891,843 £214,317 £(182,320) £ £1,923,840
========== ========= ========= ========== ==========

Unrestricted Fund

This fund is spent at the discretion of the Trustees and is utilised primarily in meeting the expenses of running the church. It is also used to make charitable donations.

Restricted Funds:

Property Fund

This fund consists mainly of grants and other monies received by the church for the renovation of the church property. Depreciation and other charges connected with the renovation are charged to this fund.

Religious Education Fund

This fund represents a donation from the French Huguenot Church for the funding of religious education.

18

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued)

9. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Unrestricted
Restricted		 2023 2022
Funds Funds
£ £ £ £
Tangible fixed assets 675,794 728,794 1,404,588 1,458,433
Net current assets 469,994 4,099 474,093 465,407
--------------------- -------------------- --------------------- ---------------------
£1,145,788 £732,893 £1,878,681 £1,923,840
====-===== ========= ========== ==========
2022 COMPARATIVES Unrestricted Unrestricted
Restricted		 2022
Funds Funds
£ £ £
Tangible fixed assets 699,764 758,669 1,458,433
Net current assets 461,308 4,099 465,407
--------------------- -------------------- ---------------------
£1,161,072 £762,768 £1,923,840
====-===== ========= ==========
10. OTHER GRANTS RECEIVABLE
Unrestricted Restricted 2023 2022
£ £ £ £
Listed Places of Worship Grant Scheme - 6,201 6,201 -
------------------ ------------------
--------------------
--------------------
£- £6,201 £6,201 £-
========= =========
==========
==========
------------------ ------------------
--------------------
Year ended 31 December 2022 £- £- £-
========= =========
==========

11. CONNECTED CHARITIES

The charity is closely connected with the French Huguenot Church of London Charitable Trust (registered charity number: 249017) from which the Church Fund receives substantial grant income. £152,222 was received in 2023 (2022: £129,000) all of which was unrestricted.

19

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued)

12. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES (2022)

2022
Unrestricted Restricted Total
£ £ £
INCOME AND ENDOWMENTS:
Voluntary income
Donations and gifts 38,882 - 38,882
Grants receivable - the French Huguenot Church
of London Charitable Trust 129,000 - 129,000
Other grants receivable - -
Other trading activities
Letting of premises and Library visits 46,388 - 46,388
Investment income
Bank interest 47 - 47
Income from quoted investments - - -
---------------- ---------------- ----------------
214,317 - 214,317
----------------- ----------------- -----------------
EXPENDITURE:
Charitable activities
Donations and grants paid 3,201 - 3,201
Operating expenses of the Church 118,161 60,958 179,119
---------------- ---------------- ----------------
121,362 60,958 182,320
----------------- ---------------- ----------------
NET MOVEMENT IN FUNDS 92,955 (60,958) 31,997
Fund balances brought forward 1,068,117 823,726 1,891,843
--------------------- ----------------- ----------------------
Fund Balances carried forward £1,161,072 £762,768 £1,923,840
========== ======== ===========

20