St Mary- le- Bow Church Annual Accounts 2022
ST MARY-LE-BOW REFERENCE AND ADMINISTRATIVE INFORMATION AS AT 31 DECEMBER2022 Charlty Number 1130098 Oblgcts And Publlc B•nèflt The purp058 of the church is promoting In the parlsh the whole mls8lon of the Churoh. Thè PCC members have tak8nfull re¢ognMlon ofthe r8qulremenls of secllon 17 ofthe Charilles Act 2011 in regard to publlc b8n8fft. Gov•rnlng Document Th& Chur¢h Is govemed bythe PaKthlal Church Coun¢lls (Powers) Measure 1956 (as amended} and the Church Represèntallon R¥Jlets (conlalned In Schedule 3 to the Synodlcgl Government Measure 1969 (as am8nded}). M•mbor8 of th• Parochlal Chur¢h Councll (PCCI Rector & Chalr.. The Revd Georgg R. Bush (&x officlo) Glles French lexoll1cI Davld Saunders lex officlo) Th8 chur¢hwarden8 were elecled In 2022 and sm for one year. Chur¢hwardens.' Clerk of Works.. Antolne We8t (until 2024) Ropresentalives lo the City Deanery Syn(MJ: Dan Hedley (unlll 2023) Dan Ryall {unlM 20231 Elected I Co-opted M¢mber8'. Aron Burchell (until 2023) Wllllam Dempster {untll 20231 Dan Hedley lunlll 2023) Dan Ryan lunlll 2023) Jam88 Sanders {unlil 20231- Hon. Trea$ur6r Mcky Snow (unlil 2023} Ollver 8oundy lunlll 2024) Alan Hovell (untll 20241 Mlchael WallrIght luntll 2025) Andrew Mislry lunlll 20251 Jacqueline Harkin (untll 2025) Margaret Burtt (untll 20251- PCC S8¢rel8ry & Electoral Rom Offlogr Parlsh Offi¢or• Operatlons Offi¢er.' Dlreclor of Mu81c'. Dannlella Downs Thomas Allery
ST MARYIE.BOW REFERENCE AND ADMINISTRATIVE INFORMATION {coTrtlnuedl AS AT 31 DECEMBER 2022 Offlc8 Addr•88 Cheap81de London EC2V fjAU 8ank•r8 HSBC 1-3 8Sshop3gate London EC2N 3AQ Indwndont Examlnèr Nlk Flsher Slmla Wall Devonshiro House 582 Honeypot Lan Mlddl6sex HA7 1JS Qulnqu•nnlal Inspectlng Archlt• Alex Sherratt Matthew Lloyd Archrtects LLP 1B The Hang8r Perseveran Work8 38 Kin9$land Road London E2 8DD Survoyor Bob Wkson Edwards Wilson Thè Gallery Sl Margaret Pallens Rood Lane London EC3H 1HS
ST MARY-LE4OW PCC REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Rospon8lblllll•s of tho Parochlal Chur¢h Coun¢ll IPCC) In relatlon th• Flnonclal 8latements The PCC Is respon$lblg for preparlng thè AMu81 Report and the financial statemen15 In accordance with 8ppluble law and Unlled Klngdom A¢counling Standards IUn6ted King¢Jom Generally Accepled Accounting Practlee.) The Church Aecountlng Regulallon8 2006 and the law #ppllc8ble lo charlll88 In EnglarKI and W8188 requlre Ihg Members of the PCC to prepare financ181 $lalements for each flnancial year which glve a tru6 and faSr vlew of the 81ate of the aff8lT3 of the PCC and of the InGomlng r8sour¢es 8nd appllcallon of resources of the PCC for that period. In pr8PaTlng these flnanclal stst8men18. the PCC are required lo.. $elecl sullable aontIng poli¢ies and Ihgn apply Ihem conslstenly,. obsefy8 the meth8 and prir1p1os in tho Charllles SORP. make judgements 8fKI estlmate8 th81 are responsib and prudonl. State whdher applicable UK aceounling 8land8rds have been followed, sublect lo any maled81 dgpartures dl8¢losed and explalned In the financlal 8tstements', prepare the flnancial statemen18 on Ihfr golng ¢onttern unl888 Its Inapproprlale lo pre8umg that the charlty wlll contlnutt in busine5S. The Members are respon81bl6 for kegplng g¢countlng ordS whl¢h dlsclose wllh reasonable a¢ouracy t any tlmtr the financlal posllion of the PCC and enable them lo ensure Ihat the finan¢l818lalemgnl¥ comply WIM The Chuich Accounllng Regulallon8 2006 and S.145 of the Charltles Act 2011. They are so responsible for 8aleguardlng the as$el8 of thè PCC and hanGg for taking reasonabl8 steps tor the Fyeventlon and dele¢tlon of fraud and other Irregulariliey. Rlsks The Tru8t608 havg revlewed ihe rt8ks of St Mary.l&-Bow during the year and bell8ve that exlstlr¥J controls arKI protsdura$ gre best suitsd lo mè81 ils oblecllves. Approved by the PCC on and slgned on Its behalf by.. James Sandarn Hon. Treasurer
INDEPENDENT EXAMINER'S REPORT TO THE PCC OF ST MARY.LE-8OW I report on th8 accounts of Sl Mary-l&Bow for lh8 ye8r ended 31 De¢ember 2022. which comprL8e thg Slalemenl of Flnanclal Activities, Balanc Sheet and related nol¢s. R¢spg¢tlvg Re8pon$lbllltlts of Ihtr PCC and Examln A$ members of the PCC you are responsible for the weparalion of th8 ac¢ounts, The charlty's Iru8le88 consider that an audll Is not required for thls yaar un(Jer Section 144(2) of the Charlll¢s Act 2011 (the 2011 kt) and that an Ind&pMtlent oxamlnalion Is needed. 11 Is Iny re5pon81bility to: examine th8 accounts under Section 145 Of the 2011 A¢l', follow the procedures lald down In the general dlrectlon$ given by the Charlty C¢ynmbslon und¢T 8ecllon 145(5Xb) of the 2011 Act., and stato whether partlcular matter8 hav8 eome lo my attsnltsn. Ba•1$ of Indopendent Examln•r'8 R•port My examlnalion was carrled oul in accordance th the General Directlons glven by the Chanty Commlssion. An examlnauon Includes 8 review of the accounting records kept by Ihe PCC and comparEson of the accounts presented wllh those records. 11 algo indudes conslderallon of any unusual Items or disclosures in th? accounts. and sgeklrvJ explanations from you as Iru8te88 concerning any such matters. The pmcedures undertaken do not provlde all the eVIden that would be required In 8n audit and con8equenlly no opinion Is given as to whether the accounts present 8 'true gnd fail vle and the report Is Ilmited lo those matters 8et out in the Slalement b&low. lftdepgnd•nt Ex•mlnerf8 Statsmont In connection wfth my examlnalion, no matter has come lo my attention". 1) whloh gives me reasonable cau6e to bèllove ihat In any mal&rlal respect th• roqulr8ments lo keep accounllng records in accordance with Secllon 130 of the 2011 A¢l,' and lo prepare accounts whlch accord with Ihe accounllng records and ¢ornply wlth the accounting requlremenls ol the 2011 Act have not b99n mel,. or to whlch, In my opinlon. attenllon should be drawn In order to enable a prcoèr understaThJing of the accoun18 to be reached. NlkF sher SIMIA WALL Independent Exemlner Chartered A¢eountanis Date:
ST MARYIE-BOW STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR-ENDED 31 DECEMBER 2022 Notg Unre81rlcled R6slrlcted Endowment FuThJ8 {£) Fund81£1 Fund8 {£} TOTAL 2022 {£1 TOTAL 2021 (£) INCOME Voluntary income 75,699 36.938 112,635 104,790 Investment In¢ome 6,480 45.721 52.201 46,321 Other Incom6 60,888 45.042 105,930 142,891 TOTAL INCORIE 143,067 127,699 270,766 294,002 TOTAL EXPENDITURE (149,547) 1123,188) 1272,Y35) {212,620) NEf INCOME BEFORE REVALUATIONS (6,4801 4511 11,969) 81,302 Gains1 (lo$sg5) on Investment revaluallo {25.597) (47,7471 (73,3441 128,219 NET MOVEMENT IN FUNDS BEFORE EXCEPTIONAL ITEM 132,07YI 4,511 (47,747) 1743131 209,801 Tr8n8fers Exceptional Itgms {Lodging Project 2022., Tower PrO1t 20211 2&3 {9,402) (9,4021 87.276 NET MOVEMENT IN FUNDS AFTER EXCEiyfioNAL ITEM (32,077) (4,891) (47,747) 184,715) 291877 Total Funds as at 1 January 2022 497,437 15,390 857,232 1,870.059 1,073,182 Total FyrKl$ #¥ at 31 December 2022 465.360 10.499 809.485 1,28S344 1,370,059
ST MARY-LE.BOW 8ALANCE SHEET AT 31 DECEMBER 2022 Note 2022 2021 Flxed As80ts TaNJible assets Inve8lment8 1.2.300 1,075,644 1,2.300 1,075,844 Curront As$et8 Debtor8 7,755 11,679 Cash al bank 281,447 287.843 289,202 Curr•nt Llabllltles 299,522 Creditors: AmounlB falllng due vAlhln one year 10 (6,158) (6,107) Net Current As¥•ts 283,044 294,415 TOTAL FIXED ASSETS AND NET CURRENT ASSETS 1285.344 1,370,059 Parl8h Fund8 General funds 465.360 497.437 Reslrlcted fund8 10.499 15,390 Endowment funds 809,485 857,232 TOTAL FUNDS 1,285,344 1,370.059 Approved by the Parochi81 Church Ctyjndl and aulhorised for1s$ue on Jam9$ Sand•r• Hon. Troasurer
ST MARY-LE.BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIE8 The prln¢lpal ac¢ounling pollcie8 whlch are adopled con8i8tenlly In th8 w8paratlon of the flnanclal 8tatements are set out b810w: 8851$ of ac¢ountlng The financlal 8t8lements have been prepared In &cord8nce wlth the Church Aecounllng Regulallons 2006 logelhgr th applicabl8 accounllng 8tandar(Is and th8 current Statement of Recommended Practice, Accountlng an(1 Reportlng by Charllles and appll¢ablg ac¢ounllng standard FRS102. The flnonci81 sl8lement8 hav6 b8en prep8d under the hl8lortcal eost convention except for the valuallon of investm8nt a88é18. whkh ore shown at market value. The financl?I statements Include all Iransacllon8, as8els and Ilabllllles for whlch the PCC 18 responslble Inlow. They do not Includé the accounls of church group5 that ow8 Ihglr main 8ffilialion to anolhar body, nor th088 th81 are Infomial gatherlngs of church members. Incomlng re$ourc•s Planned glvlro, collection$ and donalSons we recognlsed when received. Granis and legacl88 are accounted for when the PCC18 legally entltled to the amounts due and ihey can be quantified wllh re88on8ble certainly. All other Income is recognl8ed when It18 re¢elvable. All incomlng resourcey ara accounted for gross. Ro$oUr expended Gr8nls and donallon8 are accounted for whgn pald over. Tha dloc8san parlsh share Is accounted for when due. Al other expènditure 13 generally recognlsed when11 is Incurred and accounted for gros$, arld 1$ allocated between aCtltIeS on the basis of tho resources Used. Movablg ¢hurch furnlshlngs Movable church fumlyhlngs hdd by the rector and chur¢hwarden8 on speclal trust for the PCC and whlch requlre a f8culty for disposal are Inalienabl8 property. Ilsted In the GhurGh's Inventory. whlch can be in8pecled18t any reasonablg tim81. For anythlng acquired prior lo 2000 there L8 Insufficlanl cost Informallon available and therefore suth assets are nol valued in th¢ financial statements. Con8•crat8d land and bulldln08 Con8ecraled1gnd and ben8ficg property18 exduded from the financlal Statements uThJer S10.2 of the Charltles Act 2011.
ST MARY.LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIES l¢ontlnuod) Equlpm•nt, fixtUTe8 and flttlngg Equlpmenl used wlhin the church premsses is depreciatèd on a Htraight Ilne bas18 over three years. Indlvldual f(erns of Oquipmenl with a purchase prlce of £500 or less are willten off when th8 asset is acqulred. Investmenti Inve$lmen18 are slated at market value at 31 December 2022. Any gains or 1055e8 arlslng on r8valLtallon8 are transferred lo the Statement of Financlal Actlvilies. Cash is held on deposlt wllh HSBC, Unity TWBI and Metrobank lo be used in church buslness on a CA)ntinulng basis. Fund accounllng Endowtnenl funds are funds, Ihe capital of which musl be maintained,. only income arising fro Investment of the endowment may b8 used elther a8 restricted or unreslricl8d funds depending upon the purpose for whl¢h the 0nd0en1 wa8 e8labll$h&d. Restrieled funds rgpre88nl (al incomefrom trusts orendowmontswhich may b8 expended only on those reslrlcled objects provided in the lerms of the trust or bequest. and (bl donatlons or grants roGelved for Spec10 oblect or Invlled by the PCC for a specifk object. The funds may only be expended on the specific object for whlch thèy were given. Any balance remalnlng unspent al the end of Ihe year musl be ¢afrSed fomard 88 a balan¢e of that fund. Tho PCC does not usually Invest separately for each fund. Unrfrsliicled funds are general lunds which can b9 used for PCC ordlnary purposes.
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 In¢omlng Fund8 Unre8trlct•d Rèstrl¢led fund# Funds Total 2022 Total 2021 Voluntsry Ineomo Rggular congiagalional glvlro Collectlons {open plate} Grants Donallon$, appeal8 & legac188 Collecllon lyoxes Glft Ald and VAT recovered 25,710 fj,285 6,891 12.343 7,714 16,756 25,710 6,285 43,827 12,343 7,714 16,756 25,843 3,815 35,260 18,578 4,760 16,544 36,936 Total voluntary income 75,699 36,936 112,833 104,790 In¢om• from IvtMont* Bank interest and dlvldgnd$ Olh8r Investments 529 61,872 5,951 45,721 48.316 Total Investment Incomè 6,480 45,721 52,201 48,321 Othor In¢omlng r•8ource• Sunrjry Income Parf5h fee8 Voluntary ¢huKh rates Muslc In¢ome LlcenGo fees City P3rochlal Fund Just Share Rector's Discrelionary Fund Other Re8trlcled Income 9,932 9,932 94 8,856 1,675 39,575 1,296 8.335 3,680 32,487 47,833 1,033 5,385 8.316 1,675 39.575 1.296 20.092 1,296 9.329 3,738 52,681 8,335 32.487 Tol31 other Income 80,888 45,042 104930 142,891 Total Income ex¢ludlng Exo•ptlonal ProJ•cts 143,067 127,699 270.766 294,002 Lodglng Proiect12022) Tower Prolect12021) ).000 Total Incomè Includlng Exc•ptlonal ProJ•ct• 143,067 127,Va9 270,766 384,002 io
ST MARY-LE.BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 General Grants of £6.89112021: £4,250) Includ8 a church ergY cost support granl of £2.fj41 recelvedfrom the London Diocesan Fund as well as grant$ received frorn the Gro¢er$' Ccmpany and the Mereers, Company. We record our gratitude lo all these parties for Ihgir sUPPQrt. Restrlcled Grants of£36,93612021: £31,000) rèlate lo funds received from th9 TTU¥tfor London and the Clty of London Corporalion to asslsl in repalrlng Ihe retfactable steps 8t thg ¢hurch'8 Wost Door arKI ¢ontrollin9 sound in the tower re5pectlvely. Fund ral ed f other 'Olher restricted income, of £32,487 Includes £1,863 collected al vaTiOUS servlcès and evenl8 for the bellefll of olher ¢harllies and subsequenlly di8bur80d lo them. Lodglng ProJe¢t.(2022) and Tow•r Prolect12021) Between 2017 ond 2021 the church w88 engaged in a 010¢1 lo undertakè es8enllat repairs lo ils lower. Because of thg ¥ize and unu$ual nature of Ihe Sums involved, all Income and expenditure relating to the Tower PToleGt over Ihose years was shown as an Excéptional Item on the Statement of Financi81 Actlvi118s {the Income-and-Expendilure account)- The chtsrch Is curfentty engaged In 8 PTC4ect to upgrade the Rectorf8 Lod9lng. Again, glven the size and un¢J6ual nature of th& sum8 likely to be Involve(I, all Income and expenUre relatlng to the Lodglng Project Is shown Ihls year as an Exceptlon81 Item on the Slalemenl of Flnanclal Activllies. Thls pollcy wlll continue In future years untll the project Is completed.
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 3. Funds Exp#nd•d Unrn$trfct•d Re8trl¢t•d funds Fund8 Totsl 2022 Totsl 2021 Common Fund P8rish gxpeng88 Malor repaSr8 Repalrs & renewals Rale$ & water Electricity & g95 Offlce costs Mu81¢ expgns Sacrlsly Depreclallon Legal, professlonal & examlnerfees Bank charge8 &1ntere8t Just Sh4rg Rectorfs Dl$¢r&tionary Fund Other reslrioled expenses Verger & Finance Offlcer c08t8 Olhér s18ff costs 71,260 7,124 28,025 4,820 495 13,186 6,101 4,155 692 71,2eo 7,124 28.025 4,820 495 13.186 6,101 4,155 48.000 3.252 13,897 317 425 7.440 5,385 1,639 922 5.232 346 5,232 346 10,333 3,064 64,070 41,804 12,028 4,077 393 7.913 3.264 75,286 20,507 20,223 10,333 3,064 64,070 34.820 10,901 6.984 1.127 Total expendlture •x¢ludlng Exceptlonal Prolect¥ 149,547 123.188 272.736 212,620 Lodglng Pr0cl 2022 Tower Prolect 2021 9,402 9.402 2,724 Totsl oxp•ndlture including ExptIonal ProJe¢ts 149,547 132,590 282,137 211344 12
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Llconoè Fee¥ Durfng the year Ilcence fee paynen18 of £39,57512021: £20,092) were recelved from the Café Below. Bow Wlne Vaults, Tabema Elrus¢a, the Copti¢ Orthodox Church, the flower ar Shoaghlne stalls, and a nLbmb8r of other gTOUPS. Staff ¢ts 2022 2021 Wages and sglaTie3 Pen31on {Nesl) 39.906 1,426 27,533 1.047 41,332 28.S80 Note that the 2021 c0818 are Stated t of grants recèlved agaln8t $laff 8al8rtts as part of thfj DCMS Cultural Recovery Scheme (CRS) follovAng the eovld p8ndemk and lo¢kdown. Th8 salary and pension o)$ls $talod here in Muslc, and the Cleaner. those of the Operatlons Officer. the DireGlor of Th8 88lary and p&n8lon costs staled here exclude Iho3e of the Just Share officer {whose satary 18 charged 8galn81 a 8peclflc reslrtcled fund) and the Flnance Offlcer. who18 pald on an Invoi¢e- rendèred b8918. Fees invothd by Ihg Flnan¢o 0¢T came to £12.80012021.' £11,400). The salary& penglon conlribtrtlon pahj to thg Ju$tSharÈ Coordinatorwas £10,273{2021: £9.500)- sale ol Sllver Fund In¢om• Income reali8ed from Iha Sale of Sifver Fund dudng thè year tolalled £45,721 (2021.. £40.783). As Note 18how8, thls Income h8s been ¢8tegorlsed 88 re8lrlthd b8cause the church18 permitted lo offset certaln staff costs agalnsl the Income reallsed from the Sale of sIr Fund. Note 3 In turn show8 that cerialn staff cost6 Itolalling £45,721} hav8 been cateoorised as re8lrlctad expendtiure to match Iho Sale of SIer Fund Income. Payments to PCC Mombor8 An immaterial portion of the expenses pald lo the incumbent may have related to h¢s 88rvkes a3 chairm8n of th8 PCC. No other p8ymenls or expenses were p8td to any olhfjr PCC member. per¥ons nnec1ed wllh them fm Tolated partfjes. There were 3 {2021.. 3) employees at St Mary4e-8ow a$ at 31 Decernbèr 2022. 13
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Tanglbl• FIX A88 Equlpmqnt Flxturns & Fittlngs Movabl• Church Furns Total Cogt Al 1 January 2022 and al 31 Dember 2022 7,452 3,016 10.468 Dopreclatlon At 1 January 2022 7.452 3,018 10,468 Provlskin for tha ygar At 31 December 2022 7.452 3,016 10,468 Net bsjok value Ai 1 January 2022 Al 31 Decembw 2022 Fund dtttallo The rrtlrthd fund$ in¢lude 4,465 uni18 of the Sale of Silverfun¢J whiGh are Subjected to dlrectlon from the Court and therefore are not p8rmitted to be withdrawn. The endovmientfund Miclude8 the balanca of unlts on the Sale of Silver fund (50,620 unh5} whld) 89 oullln8d In Nole 5 a used lo fund the 38lary of the OperalSons Officer and the fee$ charged by the Financo omcer. They may also bg used on a discrellonary basls for the sdarie5 of other embers of staff. Invo¥tments- UK 2022 2021 Market Value at 1 January 2022 Net galn (1088} on revalualion 1,075,644 173.344) 947,425 128,219 At 31 Dec8mbar 2022 1,002,300 1,075.844 Managed lund8 C05h 1,002,300 1,075,644 1.002,300 1,075,644 The year-end balance of £l,1)02,300 was held wllh M&G (the Sale of Sllvei Fund) valued at £809.48512021'. £857.2321, and In a CCLA Capltal Fund valued at £192.815 (2021.. £218.412). Hlslortcal GoBt of the managed funds al 31 December 2022 was £229,258 (2021.. £229.258}. Dobtor8 2022 2021 Debtors 7,755 11,679 14
ST AfjARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 10. Amounts falllng duè wlthlTr on• yèar 2022 2021 Credltor8 arKI accrued expenwJ 8,158 5.107 11. Unr•strl¢tgd funds Balancg at Incomlng Resou0$ Revaluatlonl Balanc• at 01.01-2022 R•Bourceo Exponded Transfers 31-12.2022 Unfeslrtct8d fund 497.437 143.067 {149,S47} 126,5971 465.360 12, ReStr1¢t fund8 Balan¢0 al Incomlng R•sources Revaluallonl 88lan( at 01-01-2022 R•4our¢•s Expended TrangfeT8 31.IS2022 Restrlcle(I funds 16,390 127,699 {132,590) 10.499 13. Endowm¢nt Funds: Balance at Ineomlrtg Resource8 Rgvaluatlonl BalanGg at 01-01-2022 Rejourc Exponded Tran$fer8 31-12-2022 Sale of Silver Fund 857.232 147,747) 809.485 The con8tOry Court dlrocled In Aprll 2009 Ihal the Proceed8 of Ihe Sale of Sllver Fund may be U8ed to indemnrfy the PCC fcf emplong per80nB to do the work of a vwger and oth8r funcllons. 14. DaTne Margaret Slan•y Fund Two letters from the Church Commissioners to the Grocers, Company o¢knowledge 8 gfft from the Company of £4.024 In 1978 which was subsequently directed to the London Dloce8an Fund to be held'as capital to provide income forthe stipend of the incumbent of Ihls particular beneflce 1st Mary-le-Bowl'. Thot'Dame Margaret Slaney, fund Is held by the diocese and used to off&et a proportion of the Common payment whh represents the Re¢toffs stipend. The vabje of the fund wa8 £21.262 2t 31 December 202212021,. £22,516) and the Incofft8eamed bythe fund durlng 2022 was £1.201. Those number5 do not fomi part of Ihe8e accounts and are raported here for Infomiatlon purp08e8 only. 15. Funds hold a Cujtodlan Trust0• At th& ye2r•nd the ohurch held an arnounl of US$ 23,858 on behalf of the Trlnity Church in New York for the purpose of contributing towards the cost of conferenc88 and meetin05 Wth similar church leaders. 15