StQter's urne ST PETER'S BOURNE MANAGEMENT COMPANY Report of the Directors and Trustees for the year ended 30th April 2024 The directors and trustees (the "trustees") are pleased to present their annual report together with the accounts of St Peter's Boume Management Company ("SPBMC"). a company limited by guarantee, for the year ended 30 April 2024, prepared to meet the requirements of a directors, report and account5 for Companie5 Act purposes and a trustee5' report and accounts for Charities Act Purposes. Administratlve details Registered Office: 40 Oakleigh Park South, London N20 9JN Company number: 4616145 Charlty number: 1098664 Independent examlner. Roger Seaton FCA. 23 Greenhlll Park, Barnet, Herts. EN5 IHQ Bankers: CAF Bank timited, 25 Kings Hill Avenue, Kings Hill, West Mallin& Kent ME19 4JQ SPBMC'S objects SPBMC'S objects as set out in Its Memorandum of Associatlon are: "the advancement of the Christlan religion throu8h worship and the provision of facilities for study, spiritual dlrettion and learning and the encoura8ement of reflection on spirltual matters, in particular the provision of spiritual education and counselling, and through sUPPOrt of the wider Christian community, in particularthe Community of the Resurrection of Our Lord and the Church in South Africa." Public Benefit In pursulng Its objectlves, the trustees have had regard to the guldance of the Charlty Commlsslon on the Advancement of Reli8ion for the Public Benefft. The trustees believe that the activities of SPBMC, carried on at St Peter's Boume, 40 Oakleigh Road South, London N20 9JN l-st Peter's Bourne-) contribute to the public benefit by: spreadln8 knowled8e of the Chrlsttan falth to any person wlthout discriminatlon: helplng people to be better Chrlstlans; and working tO8ether wlth churches to equlp their members for mlssion and communty service. Activities and Achievement The actlvltles of SPBMC whlch the trustees belleve help them promote thelr objects are: the hosting of a worshipping community at St Peter'5 Bourne (the °Community°) establishin8 St Peter's Bourne as a house of prayer and worship serving North London the use of St Peter's Bourne as a retreat housen for spiritual reflection To better achieve these activities, the trustees have to maintain the buildlngs and grounds formlng St Peter's Bourne. acomparrylimw gUarant Tegi#ered kn Engla andWaleswfiihthemll616l45.
St Peter's Bourne Management Company- Company Registered number 4616145 {England and Wale5). Charity number.. 1098664 Detalls of all of these activities are set out below. The Community The community life at St Peterfs Bourne has continued to thrive over the last year. We've been excited to see the community continue to evolve as we have both said farewell to some members and welcomed new residents. The majority of rooms have been occupied - for most of the year we've had 18 adult residents and 6 children living here on site {representin8 5 different nationalities). We have been honoured to have a Ukrainian fugee stsy with us for 18 months as she awaited the chance to be reunited with her husband who is now living in the USA. All of our community members are involved in serving regularly on volunteerteams at their local churches here in North London. Residents have been members of 8 different churches and we celebrate the unity we've found across a diversity of churchmanship. Prayer and worship 15 at the Cent of community life. We have established a rhythm of prayer and worshlp as a communlty that has built a deeper Sense of unity and momentum in prayer. £Otlltllw. Each weekday mornln8 we gather as a communlty from 7.38aM to pray In the chapel. These are informal times of sung worship, prayer and reflettion. The daily prayer focusls based around a different section of the Lord's Prayer for each day. On Fridays we have a community 'Th3nksgiving Breakfast, in the dining room where all the communlty members eat together and share encouraglng storles and testlmonies of God at work In our lfves. We also have a weekly community nlght (Weds) where we eat and fellowship followed by a time of worshlp together In the chapel. h . The'open, is a monthly worship and prayer night that is open to guests and visitors from the local area. It's led by the communty and hosted in the Chapel. Each of these nights has been unlque and beautiful In different ways. We see the value of St Peter's Bourne as a Pla where bless1 prayer and Ilfe can flow from into the North London area and beyond. Sp1[]1. Communlty members regularly meet wlth the leadershlp team for splrltual fonnatton and dSscipleship. We work with them to learn the way of Jesus and walk out their falth in all areas of thelr work and community life. Thi5 spiritual education and direcifon that comes from these conversattons is a formative and a clear outworking of our charitable aims. ' The heart for the community at SPB is that it would be a place from which mission and ministry is launched. Around half of the communlty are employed by churches or work in fulktime ministry. Most of the other members work for charlties or soclal enterprlses that are working to serve vulnerable people and pursue justice. For example, one of our residents works for a social enterprise start-up that helps homeless people to find permanent accommodation and employment. Another resident is a legal assistant for a human rights law firm. The current residents we have here carry an extraordinary amount of spiritual and creative gifting- we're excited to see more minlstry flow out of the community here at St Peter's Bourne.
St Peter's Bourne Management Company- Company Registered number 4616145 (England and Wales). Charity number.. 1098664 The followln8 photographs show varfous aspects of the Ilfe of the Communlty: 441 C(rn¢mty WaK' Mary¥e at nlght., DavV8 T•* we9kd Away.
St PeteT's Bourne Management Company- Company Registered number 4616145 IEngland and Wales), Charity number.. 1098664 House of Prayer and Worshlp In Jan 2024 a bi-weekly prayer & worship gathering called 'Dwell' bÈgan. The aim of Dwell Is in keeping with our vision for the House of Pmyer & Worship atSPB to be a place which hosts God's presence in proyer & worship. speoking blessing and bringing tmnsfom7otion to the place ondpeople of North London and beyond,. Since we began we have seen over 40 different people join us on a Tuesday or a Friday. On a weekly basis &15 people regularly gather from churches across Bamel & beyond. Many who have attended have expressed their 8ratitude for an extended time in the presence of God and the difference this has made to their spiritual & emotional well-being. We have yet to see the House of Prayer & Worship extend into the evenlng on a regular basis. We do however host The Open monthly (see above) and on an ad-hoc basis, a young person from Oaklelgh Community Church books the d)apel with an invitstion for hi5 network of family & friends to attend. On 2nd May this saw 20+ young people from Oakleigh Community Church come through the door5 of the Chapel with some of their parents & youth leaders. Over Easter we also converted the chapel into a prayer space for the local community to use as part of their Good Frlday meditations on the Cross. 41 Alongslde Dwell, our corporate gatherlng of praise and worship• the chapel has been used and is avallable for local church leaders to book for retreats on a Wednesday or Thursday. Later thls year we hope to extend the invitation to individuals to book the chapel at SPB for individual prayer & a member of the community at SPB 15 a150 looking to establish a monthly evenin8 of prayer & worship for 18-30's from churthes across North London. Retreat House We have had a few organisations consistently book St Peter's Bourne for regular events: KXC host a termly Song Writin8 Day; CCX Myriad have held their team building and trainin8 days and Oakleigh Community Church have hosted leadership days and some Alpha Holy Spirit Days. We have also hosted Orphans No More la music collectivel. St Paul's School Southgate for an INSET day, David's Tent Prayer and a prayer group from All Souls Langham Place Throughout the year we have been able to host visitors who are coming through London. some with
St Peterfs Boljrne Management Company- Company Registered number 4616145 IEngland ènd Wales). Charity number.. 1098664 Throughout the year we have been abl8 to host visitois who are rnI thrwgh London" soTr with friends at St Peterfs 8oume and others are interested in seeing and learning about what do here. These have includ&J a team of four from the Rotterdam House of Prayer Rottenjam and visiiors from the US, and all ar(xJnd the UK. Malntenance of St Peterfs Bourne The trustees have to maintain St Peterfs Boume lo enable it to seN8 the dHrltable alms. Durfng the year, the following significant projects were undertaken: Flat 8 was n0vated ahead of new residents arriving in June 2023. The Flat at the top of the main h)use had new carpets fjtted and most of the rooms have been repainted. Major works were carried out to the gas p¥)in9 in the propety in June to make it safe after a leak was detected. The Chapel works have b8en completed and the alam relnstallèd A major blockag8 in th8 drains ling to th8 main sewer was dead. Items stored In garage were sorted and cleared. This space now offers resldents addStlonal space. New Floorlng was fitted In the Kltchen and Bathroom In Flat 8. Refurblshed Flat B l.eadershlp and admlnlstratlon The resident staff m8mbers, Ivan and Jessle Chakraborty, had baen leadlng th8 communlty moved on in August 2023. After a period of refiection and review the Directors deaded to restructure the leadership into a team of Feaders. In September 2023 they rewited Lydia & Rich di Castiglione. exlsting member5 of the communty, lo be Community Leadership team members with responsibility for Worship and Spiritual Formation and lan & Ruth Dowsett to be Community Leadership team members with responsibilty for House Op8ratb)ns and the House of Prayer and Worship. The Dire¢tor5 ca)nducted an audii of Iheir skills and expertbse from that were able to identfy the priorities needed at board level arKI Subsequ recruited Seb Cummings and Caroline Overton who is able to provide legal advice. The DireGtor5 reviewed the safeguarding policy and estsblished a Tn policy to cover confiict of interests and expenses.
St Peterfs Bourne Management Company- Company Regi5teied number 4616145 (England and Wales), Charity number. 1098664 Processes to enable the easier reporting of fjnancial details to1he board Wre put in pla and thanks is made to Sue Chapman our part-1]n administrator for her help in developing timely reports for the board. To reflect the renewed b(xJking process and the changes to the community thythms of prayer and activity the website was updated. Volunteers SPBMC has benefitted from subslantial time volunteered by the trustees in office during the year. and by the members of Ihe Conwnunty. The House of Prayer has been hosted by a number of different musicians from the Comffrtmity and the kKal area. Management of SPBMC SPBMC Is a company Ilmlted by guaTrntee. which means it does not have CA)nventlonal shareholders but members. To recognise the involvement of other kxsl churches wlth whom the community have Ilnks with the membership was Increased and Indudes those who are: ex officio th8 trustses of SPB., and th8 in AbaiT3 and thufchwardens of the supwrting parishes.. All Saints, N20. St John Ihe Apostle. Whetstone, St Mary the Virgin in East Bamec St Paul's, New Southgate and the Parish of Fri&m Bame( the in and churchwardens (or equlvalent) of churche8 attended by ffthbers of the Community or Directors can al80 apply for membershlp. the Indivlduals from tlme to tlme 8eDkng as member8 of1he Leadershlp Team of ihe Community at St Peterf$ Boume" and one elected representattve of the ConNnunity who has been living at St Peterfs Boume for at least slx nnths. These memb6rs meet onc8 a year for the Annual M88tirKJ and Ihroughout the year SPBMC is managed by the truste8s. who during the year arKI slnca th8 y8ar end have be8n: Th8 Rt Revd Rob Wlckham (t*alr till resigned from tha Trustee board in Jun6 2023) (from 1(Ith Jan 2015 & vTh chair till Sept 2023. chair from Sept 2023) (from 30th Sept 2021) (from 6th Feb 2015) (from 21st Sept 2023) (from 21st Sept 2023) David Vlnc8nt The Revd Helen Azer The Revd John Cole8 The Revd Seb Cummings Caroline Overton The trustees m8t five times during the year, and belween meetings, SPBMC'S exul1Ve Mmittee of Irustses and the various leads met regularty. fvan and Jessvd Chakraboty (till Aug 2023) and subsequently Lydrd & Rich Di Castsgl)nQ and lan & Ruth Dowsett (from Sept 2023) as gmployees, are not pemitted to be trustees but are invited to attend the trustees. meetings. as does Brian Wakeham as a representative of the Trust and Sue Chapman as the Company Secretary (from Sept 2023)
St Peterfs Bourne Management Company- Company Registered number 4616145 IEn8land and Wales). Charity nLsmber- 1098664 OveTall results As a result primarily of the increase of income due to more rooms being filled for longer throughout the year. and an increase in renL there was a profit of £9.381 (2023: a profil of £13,067). W& did hav8 an unexpected major expense due to a gas repair and work o)mpleted on Flat B and ihe top Flat of the main house. Movements In Income Total income was £97.461 (2023: £89.320). There was a dacrease in the rent from fiats to £30.400 (2023: £42,000) and incom8 from rooms within the main in(x8ased this year to £60.345 (2023: £41.715). There was also an increase in the inc£)me from Ihe hire of the premises to £5.654 (2023.. £3,629). Movements fin expendlture Expenditure Increased this year to £88.080 (2023.. £76253). The main dwng8s In expénditure thr8 year were maintenance and Small equipment whld) Increased to £23,760 (2023: £12,040> and utilities which increased to £14.726 (2023: £9.757). These inc*eases were offset by the reduction of Staff costs to £26,222 (2023: £35.404). Reserves at the Yeand The net profit for the year of £9.381 has Increased our fiJrKls TrIed forward to £37.148. 811 unrestrfcted. These funds are sufficient to o)ver 4.2 months of this ye8rfs expenditure. The ch8rye In the Communlty has hdped bulld up our reseprfes th5s year. however the reserves are still Short of the trustees, objectlve of having sufficient unrestricted reserves to m88t six months of unrestricted expenditure to Cope with variations in Cash Ikyw and to pffjwde protectirm against unforeseen costs. The building up of reserves remains an obiectlve of the trustees as they antlcipate the need for replacing the house's ller and he8ting systems in trb8 Thdium tenn. Smiill compan}. oxomptlon Statement and apprnN?l of report In preparing thts report, th8 trust88s have taken advantage of the small cLxnpani8s' exemptions provided by section 416A of the Compani8s Act 20(%. Thls report was approved by the trustees on 10 October 2024 and signed on thelr behalf by David Vincent, Director
St Peterfs Bourne Management Company- Company Registered number 4616145 (England and Wales), Charity number." 1098664 Accounts Statement of Flnanclal Activities (illcIuding Income and Expenditse Account) for the year to 301h April 2024 2024 Restrfcted Funds 2024 Total Fund£ 2023 2023 Restrlctsd Fund¥ 2023 Total Fund• Unrnstrlthd Funds Unroslrictod Funds Income from: Donallons 1,IK11 1.943 1.943 Charitable actlvlll88 45.344 45,344 Rents and othar 30.461 30.461 42.033 42,033 Total Incomo 97.461 97,461 89,320 89,320 Expendltura on: Ralsing Funds 1.019 1,019 3.160 3.160 Charllabl• activities 87,081 87.061 73.093 73,093 Total Expen(Iturn 76.253 76,253 Nel m¢)vement In funds 9J81 9.381 13,067 13,067 Roconelllatlon of fvnds: Funds brought fonvard: 27,767 27.767 14.700 14,700 Funds cafrfed forward: 37,148 37.148 27.767 27,767
St Peterfs Bourne Management Company- Company Registered number 4616145 (England and Wales). Charity number: 1098664 Balance Sheet For the year to 30° April 2024 at 30 Aprll 2024 at 30 Aprll 2023 Note CURRENT ASSErs Debtors 10 1,307 1.162 Cash at bank, on dèposit and in harKI 37.209 28.031 TOTAL CURREKf ASSErs 38.516 29.193 CREDrroRS: amunts falllng due wlthln one year 11 1.426 NET CURRENT ASSETS 37.148 27.767 TOTAL ASSEfs LESS CURRENT LIABILrriES 37.148 27,767 THE FUNDS OF THE CHARITY.. UNRESTRICTED FUNDS 12 37,148 27,767 TOTAL FUNDS 37.148 27.767 The company was entitI8d to 8xemption from ali under section 477 of the Companies Act 2006 relating to small c(xnpanies. The members have not required the (x)mpany to obtain an audit accordance with section 476 of the Companies Act 2LK)6. The directors acknowledge their responsibilities for complying wtth the requirements of the Companies Act 2006 with res1 to accounting records and th8 praparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small wmpanies, regime and in aixordance wtth FRS102 SORP. 10 day of October 2024 and swJned on their Approved by the directors and trustees on the behaK by: David vInnt. Director
St Peterfs Boume Management Company- Company Registered number 4616145 (England and Wales). Charity number- 1098664 Notes to the Accounts For the year to 30" April 2024 BASIS OF ACCOUNTING The accounts have been prepared under the histo5 st conVentTr. and in accordanc8 with the Charities SORP (FRS102} Ac(x)unting and Reporbng by Charities.. Statement of Recommended Practice applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)(effeclive 1 January 2015), the FRS 102 The Financial Reporting Standard applicable ift the UK and the Republic of Ireland. and the Conwantes Act 20. The charity nstite$ a public befft entity as defined by FRS 102. INCOME Income from D¢>naUons Donatlons are Induded In Incom8 when: the charity becomes entiued to the donation and any conditions for recelpt ar8 m8t the d1ctOrS are reasonably certsin that they will receNe it. and the directors are reasonably certain that the value can be reliably measured. Income from Charftable Acdvlues Income from communty rents. project related grants. and charges for th8 use of facilit188. 18 recognlsed In th8 period when It Is receivable In¢om• from r•nts Inme from rents Is re(wnised In ts pthl when it Is receivable. EXPENDITURE Expenditure is recorded In Ihe Per in whlch It Is Incurred. Llabltties are reo)gnised when there Is a legal or construdlve obllgallon committing tho charity to the 8xpendttur8. FUND AccouKllNG Unrnstrleted Funds Thes8 ar8 funds whith can b8 used In accordan wilh the charitable obcl5 at ttie discrelb of the trustees. io
St Peterfs Bourne Management Company- Company Registered number 4616145 {England and Wale51. Charity number: 1098664 Notes to the Accounts tb For the year to 30 April 2024 continued 2024 Reslrl¢t 2024 Total 2023 Total 2 INCOME FROM DONATIONS: For unrestricted funds from." St Peterfs Boume Trnst Other donations 1.1x11 1.001 1,943 1,(M)1 1.001 1,943 3 INCOME FROM CHARITABLE ACTIVMES Communlty Rents 60,345 41,715 Hlre of Pramlses 5,654 3,629 65.999 45,344 4 OTHER INCOME Rental Income from flats 30,4(KI 30,400 42,000 Bank Interest 61 61 33 30.461 30,461 42.033 5 EXPENDITURE ON RAISING FUNDS Letting agents, fees 1.215 Malntenanc8 of occupled ftats 7(M) 700 1,185 Runnlng costs of vacant flats Advertlslng 40 40 110 Website 221 221 650 1.019 1,019 3.160 li
St Peterfs Bourne Management Company- Company Registered number 4616145 (England and Walesl, Charity number: 1098664 Notes to the Accounts th For the year to 30 April 2024 continued 6 EXPENDrfuRE ON CHARrrA8LE ACTivrriES 2024 2024 2024 2023 Total Staff Costs Catering and other dirert Costs Utilities Refurbishment works Maintenance and small equipment Insurance Gard8n Maintanance Lor21 taxation Administration costs Community activities Sundry 26.222 1.894 14,726 7.801 23,760 1.439 2.370 5.581 2,048 705 515 26,222 1,894 14,726 7.801 23,760 1,439 2,370 5,581 35,404 1,015 9,757 3.286 12,040 1,485 2,165 4,657 1,934 633 717 705 515 87,061 87.061 73.093 7 GOVERNANCE AND SUPPORT COSTS Expenditure on d)aritable activities in note 6 above includes govemance armj support CA)sts which are costs incurred on the objects of the charity but the amounts of vthlch are difficutt to detemiine. Th8 trustees providèd financial, sretaria1, and administrative seNices free of charge. The independent examiner also prov*Jed his services free of charge. Such mlnor costs a$ have been Inrred are included in note 6. 8 STAFF COSTS Thes8 Include the SarieS of the Communty Le&Jors. The figures also include the wages of a part-time administrator and cleaner. 2024 2023 Gross Pay 25,179 32,332 Beneffts in Kind Pensrons 1.043 3,072 Totsl Staff Costs 26,222 35.404 Average Number of Employees 12
St Peterfs Bourne Management Company- Company Registered number 4616145 IEn8land and Wales), Charity number: 1098664 Notes to the Accounts For the year to 30° April 2024 continued TAXATION The Charity is exempt from corporation tsx on its charitable activities. 10 DEBTORS: amounts falllng wlthln one year 30 Aprfl 2024 30 Aprfl 2023 Trade Debtors Prepayments and a¢d incorne 1.307 819 343 1,307 1.162 11 CREDITORS: amounts falllng wlthln on• y•ar 30 ApTII 2024 30 Aprll 2023 Trade Credltor8 Accruals and deferred income (298) (1,070) (1.319) {107) (1.368) (1.426) 12 STATEMENT OF FUNDS 01 May 2023 Incom• ExndItUrn 30 Aprfl 2024 Unrestricted Funds 27,767 97,461 88.080 37,148 Total Funds 27.767 97.461 88.080 37,148 13
St Peterfs Bourne Management Company- Company Registered number 4616145 {England and Walesl, Charity number: 1098664 Notes to the Accounts th For the year to 30 April 2024 continued 13 NET ASSETS BY FUND AT 30 APRL 2024 Unrestrlcted Restrfcted Totsl Fixed Assets Debtors 1.307 1,307 Cash 37.209 37,209 Creditors {1.368) 11.368) Total Net Assets 37.148 37,148 14 TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES The trustees and th8 Communlty Leaders are regarded as partles who are related to the charity under tharity law. and any financial trans&tDns between them arKI the charity must be dlsclosed. None of the TnJste8s recelved any remunerati)n or other benefft8 from an employment with the charity or a related entlty. lan & Ruth Dowsett and Rlch & Lylla DI Castigllone, the Community Leaders. are. along wlth the Trustees, consider8d the key management personnel of the charity and the total remuneration pald In thls category amounted to £18,327 (2023: £26.053 p8ld to Ivan & Jes8le Chakraboty. wtK> were the key management pr8vlously). Apart from the above. there were Tr) ott)er transactions beiween the charfty and the atM)v8 persons, or any other related partles, in this and the pr•vwJus year. 14
St Peterfs Bourne Management Company- Company Registered number 4616145 {England and Walesl,
Charity number: 1098664
Independent ExamineVs Report
to the Trustees of St Peter's Boume Management Company
I report on the accounts of the company for the year ended 30th N)ri12024 thich are set out on
pages 8 to 14.
Respectlve responsibllltles of trusts8s and examinor
The trustees (who ar& also th8 directors of the company for the purposes of company law) arè
responsible for the preparation of accounts. The trustees consider that an audit is not required for
this year under section 144<2) of the Charilies Act 2011 (the ?011 Acr) and that an independent
examination is needed.
Having satisfied myself that the charity is rK>t subpd to aL*Jit under company law and is eligible for
independent examination. it is my reswr6ibilty to:
examine the 8ccounts under 88Ction 145 of the 2011 Ac(.
follow the procedures laid down in the gener81 Directions gtven by the Charity Commissiffi under
se¢tlon 145(5){b) of the 2011 Act. 8ThJ
stste whether p8rticuler matters have cane lo my attention.
Basis of Independent examlnerfs report
My examlnatlon was Carrled out In accordance wllh the general Dlrections glven by the Charity
Commission. An examination includes a review of the ac¢ounling records kept by the charity and
comparfson of the accounts presented wrth those records. It also Includes conslderatlon of any
unusual items or disdosures in the accounts and se8king 8xplanations from you as tmstees
concerning any such matters. The procedures undertaken do not provlde all the evKJence that would
be required in an audit and consequently no opinion is given as to whether the accounts present a
'Irue and fair vlew. and the report is limlted to those matters set out In the statement below.
Independent examlner's statement
In connection wSth my examhation. rlo matter h8s