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← The French Protestant Church Of London

2024-12-31-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 2024

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
Deacon P Woods (from 1stSeptember 2024)
Secretary P. Woods (up to 31 August 2024)
B Fougier (from 1stSeptember 2024)
Members of the Consistory P Renaud-Grosbras (Pastor to 9thJune 2024)
B. Fougier
J. Hagg
G. Nègre (up to1stSeptember 2024)
R. Jardon (from 1stNovember 2024)
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

2

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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.

3

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (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 2024, the French Protestant Church of London experienced a year of significant change on several levels: in its spiritual leadership, in its cultural outreach, and in its rental activity, which expanded significantly.

Following the Consistory’s decision not to extend Pascale Renaud-Grosbras’s ministry beyond her initial one-year term, she left in June. Phoebe Woods then assumed the role of deacon, becoming our principal preacher and coordinating all religious activities.

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 2024 was marked by significant events and transitions within our church community.

End of the ministry of Pastor Pascale Renaud-Grosbras

In June, Pastor Pascale Renaud-Grosbras celebrated her final service before moving to a new position in Saint-Malo, France.

In accordance with her wishes, no formal farewell service was organised, but we remain grateful for the ten months during which she accompanied our community, and we wish her success in her new parish.

4

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

Installation of Phoebe Woods as Deacon

In September, the church formally installed Phoebe Woods as deacon, reaffirming the congregation’s historic mission of hospitality and service. By renewing this diaconal tradition, the consistory highlighted hospitality as a lived theological virtue and an invitation to dialogue in today’s context.

Phoebe brings both professional and theological experience to this role. Aged 37, married with two children, she combines a background in Protestant theology with a career in marketing and international experience in France, the Middle East, and the UK. Already actively engaged in services, weddings, Sunday school, and the young adults’ group, she embodies both continuity and renewal for the community. Her installation was formalised at the culte de rentrée on 15 September , followed by a buffet and the annual assemblée générale. From September onwards, Phoebe coordinated all religious activities and services for the remainder of the year, supported by guest pastors.

Regular Services and Special Celebrations

Baptisms and Other Religious Events

Several baptisms were celebrated during the year, including those of Carla Hamza, daughter of Hassane and Inese, Leo and Tim Würsch Andrianjakaim, sons of Jessie and Philipp, and Alfred Loyau. The church also hosted a number of marriage ceremonies, reaffirming its role in accompanying parishioners through the significant milestones of their lives.

Catechism

Catechism classes, initially led by Pastor Pascale Renaud-Grosbras and subsequently by Phoebe Woods, were held at the French Lycée in South Kensington for students aged 11–16. Pastor Pascale Renaud-Grosbras also established a new group for pupils of the École Jeannine Manuel, meeting at the National Gallery, which Phoebe continued. Following the departure of Xavier and Magali Demierre from London, Phoebe assumed responsibility for planning catechism from the start of the school year.

5

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

The Young Professionals and Students Network

The Young Professionals and Students Network met informally once a month for dinners hosted by the pastor, attracting 10– 15 participants and providing opportunities for fellowship and spiritual discussion.

Monthly Bible study group

In addition to catechism and the young professionals’ network, the pastor facilitated a monthly Bible study group. Pastor Pascale Renaud-Grobras chose to focus on the parables in the Gospel of Luke, while from September Phoebe, together with guest pastors, led sessions on Paul the Apostle and his epistles, drawing on Daniel Marguerat’s Paul de Tarse: l’enfant terrible du christianisme .

Communion of French-speaking Protestant Churches

The French Protestant Church in London also remains an active member of the Communion of French-speaking Protestant Churches, affiliated to the Protestant Federation of France. Its vice-president, Thibault Lavergne, who also serves as vicepresident of our consistory, represents us in this community of around thirty churches worldwide, dedicated to exchange, mutual support, theological engagement and shared action.

Engagement with Other Communities

The church continued to host services for the Malagasy community three times a month on Sunday afternoons, fostering inclusivity and supporting diverse congregations.

As a member of Church Together in Westminster, Pastor Pascale and later Phoebe took part in monthly in-person meetings with priests and pastors from across the borough.

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 2024.

After a successful transition from Mailpoet to Mailchimp in December 2023 to ensure compliance with GDPR requirements, our monthly newsletter has been sent out regularly. It combines a short spiritual reflection with updates on church life and forthcoming events, and currently reaches around 350 recipients, including both current and former parish members worldwide.

6

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

Events

Throughout the year the church was pleased to open its doors widely by hosting and co-organising a number of cultural events and conferences.

Heritage, Library and Archives

The conservation team was able to meet weekly on a regular basis, except during the summer months, and continued its work of identifying books requiring more extensive studio restoration while stabilising others. As a result, access to the library remained very limited. The need to strengthen the team with new members has long been recognised, particularly as some existing members are less available due to other commitments. However, uncertainty surrounding the development at 7 Soho Square (see below) has delayed recruitment and consequently slowed progress.

Roof and façade renovation and developments at 7 Soho Square

The Consistory of the French Protestant Church of London has long recognised the need for a complete overhaul of the main roof of the church and, in 2023, intensified preparatory work with our appointed architects to ensure the project’s success. Caroe Architecture Ltd, led by senior architect Alanah Honey, was engaged to guide us through this essential renovation.

In the second quarter of 2024, Westminster Council granted planning permission for a major redevelopment involving the demolition of 2–4 Dean Street and 7 Soho Square, and the erection of a replacement building over basement, ground and seven upper floors. This project is expected to have a significant impact on the church, particularly in relation to noise, dust and vibration management, with potential disruption to rental activities and to the work of the library conservation team, as the library is housed in a room directly adjoining 7 Soho Square.

Throughout the year, the church – represented by a small team consisting of Bénédicte Fougier, Anne Roberts and Ghislain Leugue, supported by professional advisers – sought to engage closely with Hines UK on safeguarding the building and its collections during demolition and construction. The Consistory also raised concerns regarding site nuisances, potential daylight reduction, treatment of the shared chimney, and basement excavation works.

7

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

Discussions were to continue into 2025, focusing on technical plans, monitoring strategies and the clarification of party wall responsibilities, with the aim of ensuring adequate protection for the church building and its collections.

Rental strategy

Our manager, Andreea Morosanu, who was appointed in July 2023, implemented a more proactive rental policy to increase revenues, mainly through ad hoc events.

This resulted in a 27 per cent rise in rental income in 2024 compared with 2023. She also promoted our facilities on specialist websites, which generated considerable interest.

During the first half of the year, growth was limited as much of her time was devoted to secretarial support for Pastor Pascale Renaud-Grosbras.

The more significant increase was therefore seen from September onwards, when Phoebe Woods provided substantial assistance with hosting visits for potential clients and attending events.

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 2024, the Church received £129.0k (2023: £152.2k) 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 £196.9k (2023: £213.7k). The £16.8k reduction between the years is mainly a result of an additional £23.2k of donations from the French Huguenot Church towards capital works in 2023 which was not replicated in 2024. There was also a donation of £6.2k from the Department of Digital, Media, Culture and Sport (DCMS) under the Listed Building Grants Scheme in 2023. These were offset by £10k additional bank deposit interest receipts in 2024.

Total expenditure was £208.9k (2023: £258.9k). 2023 included exceptional costs related to the departure of Stéphane Desmarais and his wife Cindy, as well as the arrival of Pastor Pascale Renaud-Grobras. Salary costs were also lower in 2024 as a result. However, substantial costs were incurred in the year to refurbish the residential accommodation for the pastor following the change in personnel.

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 2024 (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 2024, total funds were £1,866.7k comprising £703.1k in Restricted Funds and £1,163.6k of Unrestricted General Funds. Of the General Funds, fixed assets not covered by the Restricted Property Fund account for £675.3k with the remainder of £488.3k being the charity’s ‘free reserves’.

The intention of the Trustees is to maintain free reserves at around one year of recurring expenditure (approximately £200k). 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 remained broadly stable in 2024. In July, Fabien Lerede as President, Thibault Lavergne as Vice-President and Ghislain Leugue as Treasurer were unanimously re-elected for a further year. Bénédicte Fougier was elected Secretary, replacing Phoebe Woods.

Two members stepped down: Pastor Pascale Renaud-Grosbras in June 2024, and Guilhem Nègre in September, whose professional commitments no longer allowed him sufficient time to engage fully in Consistorial matters. He has, however, kindly agreed to continue overseeing children’s religious education (ages 4–11) for another year. Roxane Jardon, already closely involved in the daily life of the church through her work in religious education and the Bible study group, joined the Consistory in November. We are very grateful for her commitment.

In line with the Church’s constitution, trustees are chosen from among the congregation and elected by the Consistory. The decision is then announced at a Sunday service for a 30-day period. If ten or more members of the congregation oppose the election, it is referred to the Church’s General Assembly. The day-to-day management of the church’s affairs is delegated to the pastor, supported by 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.

Looking ahead, Phoebe will continue to serve as deacon until September 2025, when she will begin her pastoral training in Paris. For our community, this will mark the beginning of a new period: a true pastoral vacancy. We wish to approach this not as a loss, but as an opportunity to renew ourselves, supported by the presence of guest pastors—whether for a single service, for several consecutive Sundays, or in some cases for longer periods.

The Consistory will remain fully mobilised to ensure that this year of vacancy runs as smoothly as possible, and that the rhythm of our services and community life is maintained.

Beyond this, our essential priority will be the safeguarding of the church’s interests in the matter of 7 Soho Square, which will continue to require careful attention and sustained engagement throughout the coming year.

9

FRENCH PROTESTANT CHURCH OF LONDON

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

APPRECIATION AND THANKS

We would like to express our deep gratitude to Phoebe, who ensured that the end of 2024 unfolded with calm and confidence, carried by a spirit of hope and shared purpose. Through her attentive presence and dedication, she enabled us to live through this unprecedented period with trust, openness and the joy of service.

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 15[th] September 2025 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 2024.

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

16[th] September 2025

11

FRENCH PROTESTANT CHURCH OF LONDON

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Unrestricted Restricted Total Total
Notes £ £ £ £
INCOME AND ENDOWMENTS:
Voluntary income
Donations and gifts 22,565 - 22,565 27,534
Grants receivable - the French Huguenot
Church of London Charitable Trust 11 129,000 - 129,000 152,222
Other grants receivable 10 - - - 6,201
Other trading activities
Letting of premises and Library visits 34,706 - 34,706 27,285
Investment income
Bank interest 10,644 - 10,644 494
---------------- ---------------- ---------------- ----------------
196,915 - 196,915 213,736
----------------- ----------------- ----------------- -----------------
EXPENDITURE: 2
Charitable activities
Donations and grants paid 2,084 - 2,084 4,436
Operating expenses of the Church 177,056 29,802 206,858 254,459
---------------- ---------------- ---------------- ----------------
179,140 29,802 208,942 258,895
----------------- ------------------ ------------------ ------------------
NET MOVEMENT IN FUNDS 17,775 (29,802) (12,027) (45,159)
Fund balances brought forward 1,145,788 732,893 1,878,681 1,923,840
--------------------- ----------------- ---------------------- ----------------------
Fund Balances carried forward £1,163,563 £703,091 £1,866,654 £1,878,681
========== ======== =========== ==========

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 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible fixed assets 5 1,374,307 1,404,588
-------------------- --------------------
CURRENT ASSETS
Debtors 6 16,846 59,872
Investments – bank deposits 380,000 -
Cash at bank and in hand 100,102 417,365
-------------------- --------------------
496,948 477,237
CURRENT LIABILITIES
Creditors: Amounts falling due within one
year 7 (4,601) (3,144)
------------------- -------------------
NET CURRENT ASSETS 492,347 474,093
------------------- -------------------
TOTAL ASSETS £1,866,654 £1,878,681
========== ==========
FUNDS: 9
Unrestricted General Funds 1,163,563 1,145,788
Restricted Funds 703,091 732,893
--------------------- ---------------------
£1,866,654 £1,878,681
========== ==========

Approved by the Board of Trustees and authorised for issue on 15[th] September 2025 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 2024

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.

Income

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.

Interest on bank deposits are included when receivable and can be measured with reasonable certainty.

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.

Cash at bank and in hand and cash investments

Cash at bank and in hand include cash and short term highly liquid investments with a maturity period on three months or less from the date of acquisition or the opening of the deposit or similar account. Deposits with a maturity period of three months or more are included as cash investments.

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.

Statement of cash flows

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

14

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued)

1. ACCOUNTING POLICIES (continued)

Foreign Currency Transactions

Transactions in foreign currencies are recognised at the exchange rate on 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.

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

EXPENDITURE 2024 2023
Unrestricted Restricted Total Total
£ £ £ £
Donations and grants paid (see below) 2,084 - 2,084 4,436
-------------------- -------------------- ------------------- -------------------
Operating expenses of the church:
Clergy and church activities
Activities - Misc expenses 1,897 - 1,897 1,224
Cleaning and Household 6,514 - 6,514 5,935
Electricity, water and gas 13,403 - 13,403 7,475
Food and drink supplies 1,504 - 1,504 1,593
Functions and events 2,877 - 2,877 5,263
Insurance and security 17,638 - 17,638 16,819
Organists and musicians 5,235 - 5,235 4,864
Pastor’s benefits 3,612 - 3,612 2,732
Pastor’s pension premium 3,421 - 3,421 10,439
Rates 3,499 - 3,499 1,849
Repairs and maintenance 58,783 - 58,783 25,950
Furniture and equipment - - - 5,720
Renovation costs – non capital - - 22,904
Library and archives - - - 174
Salaries, National Insurance, Pension 23,781 - 23,781 41,464
Travel expenses 3,185 - 3,185 3,809
Pastoral relocation expenses - - - 15,850
------------------- ------------------- ------------------- -------------------
145,349 145,349 174,064
------------------- ------------------- ------------------- -------------------
Church administration
Accountancy fees 3,647 - 3,647 3,180
Bank charges 12 - 12 32
Computer and website 3,782 - 3,782 4,031
Internet, telephone and postage 2,477 - 2,477 2,130
Office Administration 19,792 - 19,792 8,379
Professional fees 1,440 - 1,440 7,997
Printing, stationery and equipment 78 - 78 801
------------------- ------------------ ------------------- -------------------
31,228 - 31,228 26,550
------------------- ------------------ ------------------- -------------------
Depreciation 479 29,802 30,281 53,845
------------------- ------------------ ------------------- -------------------
Operating expenses of the Church 177,056 29,802 206,858 254,459
========== ========= ========== ==========
Total Expenditure - 2024 £179,140 £29,802 £208,942 £258,895
========== ========= ========== ==========
Total Expenditure - 2023 £222,819 £36,076 £258,895
========== ========= ==========

15

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued)

2. EXPENDITURE (Continued) EXPENDITURE (Continued) EXPENDITURE (Continued) EXPENDITURE (Continued)
Unrestricted Restricted 2024 2023
£ £ £ £
Donations and and
grants		 paid
comprise:
CEEEFE 2,084 - 2,084 2,081
Others - - - 2,355
-------------- ----------------- ----------------- -----------------
£2,084 £- £2,084 £4,436
======= ======== ======== ========
Total 2023 £4,436 £- £4,436
======= ======== ========
Included in expenditure are: £ £
Independent examiner’s fees – examination 1,440 1,380
Independent examiner’s fees - other 1,830 1,620
======= =======

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
2024 2023
£ £
Gross salary 23,051 39,582
Social Security costs 194 906
Pension costs 3,957 11,415
------------------ ------------------
£27,202 £51,903
========= =========

The charity had only one employee in the year (2023: one). No employee’s remuneration in the year or in the previous year exceeded £60,000. The one employee is the pastor. She is key management personnel and is a Trustee of the charity ex officio.

4. RELATED PARTY TRANSACTIONS, TRUSTEES’ REMUNERATION AND EXPENSES

2024 2023
£ £
Salary and related costs 23,245 40,488
Pension contributions 3,957 11,415
------------------ ------------------
27,202 51,903
Other benefits 3,612 2,732
------------------ ------------------
£30,814 £54,635
========= =========

The only Trustee to receive remuneration is the pastor.

In line with Section 16 of the charity’s Governance Scheme, £1,494 (2023: £3,395) 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 2024 (2023: None).

£1,151 of expenses were reimbursed to two trustees in the year (2023: £3,684 to two trustees).

16

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued)

5. FIXED ASSETS Property
Church Renovation Other
Fixed
Property (ongoing Assets Total
works)
£ £ £ £
Valuation:
At 1 January 2024 1 1,493,733 119,854 1,613,588
Additions - - - -
------------------ ------------------ ------------------ ------------------
At 31 December 2024 1 1,493,733 119,854 1,613,588
========= ========= ========= =========
Depreciation:
At 1 January 2024 - 89,625 119,375 209,000
Charge for the year - 29,802 479 30,281
------------------ ------------------ ------------------ ------------------
At 31 December 2024 - 119,427 119,854 239,281
========= ========= ========= =========
Net Book Value
At 31 December 2024 £1 £1,374,306 £- £1,374,307
========= ========= ========= =========
At 31 December 2023 £1 £1,404,108 £479 £1,404,588
========= ========= ========= =========
6. DEBTORS 2024 2023
£ £
Debtor - CEEEFE 78 2,159
Other debtors 9,943 410
Prepayments and accrued income 6,825 57,303
------------------ ------------------
£16,846 £59,872
========= =========

In 2023, Prepayments and accrued income included £56,263 receivable from the French Huguenot Church of London Charitable Trust (see Note 11). This was received in January 2024.

17

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued)

7. CREDITORS 2024 2023
£ £
Other creditors 118 144
Accruals 4,483 3,000
------------------ ------------------
£4,601 £3,144
========= =========
8. STATEMENT OF FUNDS
At 1 Income Expenditure Expenditure
Transfers/		 At 31
January Gains/(losses) December
2024 2024
£ £ £ £ £
Unrestricted Funds 1,145,788 196,915 (179,140) - 1,163,563
-------------------- ------------------ ------------------ -------------------- --------------------
Restricted Funds:
Property Fund 728,794 - (29,802) - 698,992
Religious Education Fund 4,099 - - - 4,099
-------------------- ------------------ ------------------ -------------------- --------------------
Total Restricted Funds 732,893 - (29,802) - 703,091
-------------------- ------------------ ------------------ -------------------- --------------------
TOTAL FUNDS £1,878,681 £196,915 £(208,942) £ £1,866,654
========== ========= ========= ========== ==========
2023 COMPARATIVES 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
========== ========= ========= ========== ==========

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 2024 (Continued)

9. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Unrestricted
Restricted		 2024 2023
Funds Funds
£ £ £ £
Tangible fixed assets 675,315 698,992 1,374,307 1,404,588
Net current assets 488,248 4,099 492,347 474,093
--------------------- -------------------- --------------------- ---------------------
£1,163,563 £703,091 £1,866,654 £1,878,681
========== ========= ========== ==========
2023 COMPARATIVES Unrestricted Unrestricted
Restricted		 2023
Funds Funds
£ £ £
Tangible fixed assets 675,794 728,794 1,404,588
Net current assets 469,994 4,099 474,093
--------------------- -------------------- ---------------------
£1,145,788 £732,893 £1,878,681
====-===== ========= ==========
10. OTHER GRANTS RECEIVABLE
Unrestricted Restricted 2024 2023
£ £ £ £
Listed Places of Worship Grant Scheme - - - 6,201
------------------ ------------------
--------------------
--------------------
£- £- £- £6,201
========= =========
==========
==========
------------------ ------------------
--------------------
Year ended 31 December 2023 £- £6,201 £6,201
========= =========
==========

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. £129,000 was received in 2024 (2023: £152,222) all of which was unrestricted.

19

FRENCH PROTESTANT CHURCH OF LONDON

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued)

12. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES (2023)

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

20