REGISTERED CHARITY NUMBER: 1114216 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR SAINT GABRIEL'S PARISH HOUSE TRUST Malthouse & Company Chai'tered Account2nls America House, Ruinford Court Ruintoi-d Place Liverpool Merseyside L3 9DD SAINT GABRIEL'S PARISH HOUSE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent Examiner's Report Stateinenl of Finaiicial Activities Balance Sheet Notes to the Financial Statements 10 to 16 Detailed Siatement of Financial Activities 17 to 18 SAINT GABRIEL'S PARISH HOUSE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees Present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Siateinent of Recommended Practice applicable to cliarities preparing their accounts in accordance with the Finaiicial Reporting Standard applicable in the UK and Republic ot. Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The charity's objectives, as slated in the Deed of1900. are: l. For the celebi'ation of divine service in accordaiice with the rites and ceremonies of the Chiirch of England. 2. As a hall or place of meeting t'or the recreation or instruction or othenvise t.or ihe use and benefit of the Ineinbers of the Cliurch of England resident in the pai'ish and such other pei'sons as ihe trustees oi. trustee Inay troin time to lime either generally or in any particular case direcl or pennit. 3. As a place ot" Ineeting for distriLI visitors or for any committee or societies oi. oihei. bodies iii the pai'ish wliich are coiinected with the Church ot" Eiigyland or tor Ineetiiibys to be called iii aid or t-or the benetit ot" any coiniiiitlee society object or cause coniiected with Ilie Church of Eng¥land. 4. As d place ot" meeting for any club guild soLiety or institute wholly or mainly composed of members ot" the Chiircli ol. Engyland who belong to the laboiiringy tnanutacturingy or other poorer classes or as a grymnasium I'eadingj room billiard rooin or i'eci'eation i'ooin for theii. use. 5. As a class rooin nieeting l'oom reading rooin or lecture rooin for Ineinbei's of the Cliui'ch ot" Engiland oi. for Llasses t"oi' coiniiiunicants oi. candidates t.or continnalioii or oihei'wise tor Ilie religioiis or seculai. instriiction ot. Ineinbers ofi'the Chiirch of England. 6. As a lending library t.or the use of meiiibers of the Church of England. 7. As a kitchen or place for providing food or other relief toi. the necessilous poor or for providing tood or i'etreshineiit tor any persons who shall be upon the pi-eirjises for or in connection with any of the puiposes herein Inentioned. 8. As a i-esidence for a caretaker parish nurse mission woinan or otl)er worker in the pai'ish..... 9. For any oiher meetings or for any other objects. ends or purposes having in vieiv the spiritual. intellectual, IDOI-al oi. social needs ot" iiiembeis of tlie Cliui'cli ot" Eiigl(tnd iii tlie said eLclesiastical parish wliich may from tiine lo time be approved eitlier genei'ally or in a particiilai- case by the truslees...... Page I SAINT GABRIEL'S PARISH HOUSE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Significant activities St Gabi-iel's Pai'ish House Trust was cl'eated in 1900 to provide a range ot"charitable services to the people of the parish of St Gabriel's church, Warwick Squai'e. as set out in the Triist Deed. The Deed creates a functional pei-lnanent endowment, which ineans ihat the Ti'ust achieves its objects by pi'oviding services in and thi'ougyh the Parish House building, which contains a suite of I'oonis and lialls ot" various sizes, as well as a kitchen, lavatoi-ies aiid a caretaker's tlat. The House is based on the Churchill Gardciis estate in Pimlico. In 2011, the Charity Coinmission agFreed a Scheme which made the Parochial Cliiii'ch Council (PCC) of Si Gabriel's chiircli the corpoi.ate Managing Tnistee, and vested Custodian Trusteeship in the Loiidon Diocesan Fund (LDF). The Ineinbcrs ofi. the Managing Trustee (referred to for convenience as the Trustees in these accounls) work to ensure Ihat the Parish Hoiise provides a range of services to the local coininunity in line with the 1900 Deed. Tliese services include hiring out rooms at charilable rales to a range ot" organisations with charitable and cominuiiily objects, including music, tl)eatie and opera companies, and sporting or¥anisations. The incoine provided by hirings is used to keep ilie building¥ in good condition, and io pay for the provision ot" a range of other services at the House. These laltei. have in recent years included a coiThnunily service hub" which delivered in iiiodern foi'in inany of the functions oiitlined in the 1900 Deed, incliidingy coiiiniunity advicL and a toodbank. Hub services are CUiTently suspeiided and uiider I'eview tollowing tlie interi'iiption caused by the Covid-19 pandciiiic. In addition. St Gabriel's parish inission is based at and run t'roin the Parish House, including youll) woi'k on Ilie local estate. The Missioii Priest is also based at the Parish House, as is St Gabi-iel's Parish Ot"tice. The Trustees have also made the House available available as a base for a raiige ot. organisations whose own cli.Irilable obj eLts are consistent with tliose ot" the Trust. These include the local Scouts, and the Pimlico Musical oundalioii (PMF), lin independent charity providiiigy Inusical education lo cliildren in the area via weekly iii-sLkiool teacliiiig and tennly coiicerts. It works iii particular lo lielp cliildreii whose circiiiiistances exhibit some ot.the establislied niarks of deprivation. The Tiust provides tlie Foiindation with office space at no cost. Public benefit The Triistees confirin that they have i-efen'ed io the giiidance contained in the Cliarity Cominission's general guidance on Public Benetil when reviewingF the charity'% aims and objectives and in planniiig I"uture activities. In paiticular, tlie Ti-ust¢es Consider Iiow plaiined activities will colilribute lo tlie aiins and objeLtives they liave sei. Tlie priiicipal public benefit achieved by the Tivst is iii the tuitheraiice of the Anglican laith and education. ACHIEVEMENT AND PERFORMANCE Charitable activities Duriiig the year the charity has been active iii each of the above ai-eas aiid has sougyht to expand the charitable work uiidcrtaken. In addition, the tinancial sui-pluses generated by tlie chai-lty in recent years have enabled it to iiivest substanlial sums in modernising and renovatiiig its principal asset, the parish halls in Pimlico. This upgi'ading ot.tlie building, which as stated above, foi-lns a perinanent endowment, will enhan¢¢ the facilities Ihat tlie cliai'ity can pi'ovide long into the future. Page 2 SAINT GABRIEL'S PARISH HOUSE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Financial posltion The charity's pi'incipal source of income continued to be the revenue arising from ilie lelting of space within the parish Iialls. This has continued to grow, rising trom £276.4k in 2023 to £279.5k in 2024. Other sources of income liave generally been i-elalively minor. Total income t.or the year was £300k (2023.. £291 k) of which £ Nil (2023.. £ Nil) was resti'icled. Expenditure was higlier at £216.3k (2023.. £206.57k). The decrease was primarily due to a rise in staff costs as a vacant post was filled. The net result was a surplus for the year of'£84.5k (2022.. £84.5k) of which £Nil (2022.. £ Nil) related to restricted funds, there having been no expenditLire of restricted monies during the year. Ciirrently, the trustees are undertaking a programine of Irjodernisation and reflirbishment ot. the parish halls. Annual linancial surpluses are iheret-ore being utilised to tuiid tliis inveslinent. Duriiig 2023 additions to tixed assets ainouiited to Nil (2023.. £15k). Reserves policy The Trustees have adopted a reserves policy which is to l)old a Ininimum of 6 Inonths, expenditure in ordei. to protect against toi-eseeable capital, Incoine. aiid adverse evenl i'isks. At ilie end of 2023, the charity's unrestricted reserves slood at £828.8k (2023 £798.8k) ot. which £124k (2023 £171.4k) was represented by fixed assets. TheretOTe the 'tree reserves ot" the charity were soine £704.8k. It is tlie gyeneral policy of tlie trustees to hold appi'oximately six iiionths, budgFeted cash expenditure in reseive tor unloreseLlI events, Ihat is, ai'ound £115k. The balance of around £590k is held as a sinkingi tund and lo cover tuture investment in the buildings as the Iliird p111se of. Ihe refLlI'bishment project is contel￿platec1. FUTURE PLANS Tliei-e are no plans to change fundaiiientally tlie way in which the charity operates. Pi'ior to ihe covid-19 P