St Mary le Bow Church '.1 Annual Report 2023 iv
PAROCHIAL CHURCH COUNCIL OF ST MARY-LE-BOW
Registered Charity No. 1130098
ANNUAL REPORT FOR THE YEAR ENDED 31st December 2023
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The Rector
In framing words of introduction for 2023’s annual report I have both an eye to candidates for the rectorship who may browse these pages, and also cannot but have a retrospective glance at the past two decades with gratitude and watchfulness. The social and physical conditions locally have in two decades altered totally, and even in this past year the warnings of decreasing - or increasing - footfall in these streets have assuredly not played out as predicted. The rather demanding process of retiring has reminded me that SMlB is extraordinarily highly regarded as part of the neighbourhood and wider City. Ostensibly, across all our activity, we are fairly much where we were before the Pandemic (although with the Friday Eucharist waiting to be restored or not); and we continue to have new and regular attenders and friends, and a healthy crop of baptisms, confirmations and marriages. Judged by contemporary standards there remains a potentially fruitful parish for continued ministry, refreshed by the energies and insights of a new priest.
As chance would have it (honest guv!) some early preparation for removal turned up the annual report for 2003, in which it seems that I set out my stall for where I saw the parish going at the outset of my time here. Interestingly my tone is quite careful and mildly ‘executive’, as if I was not quite sure of my material! Of course I inherited a commitment to ‘dialogue’ (invented and reinvented by my predecessors McCulloch and Stock) and although we worked hard with debates, fora, lectures (notably The Boyle) and inter-faith engagement, in reality the ability to attract audiences at lunchtime had already departed by 2002 and other bigger players (e.g. St Paul’s and Westminster Abbey) had jumped onto a bandwagon – once the novelty of Cheapside – founding their own Institutes, and doing with resources and energy what had been trail blazed here. But arguably this remains a key part of our
DNA in that we espouse reasonable religion which declines to be siloed or resistant to new insight. The manner in which the parish engaged with the early material of Living in Love and Faith in 2020 was a singular and encouraging example. ‘Dialogue’ was of course the harbinger of a new way in which to communicate in 2003 and, after many trials we seem to have reasonably effectively conquered the demanding acoustic (the south west corner remaining a problem); and have lively – and reliable - public notices and a cogent website. Since the Pandemic the parish priest has engaged with a large constituency through a weekly bulletin (and one online Service weekly) and this has plainly been appreciated; necessarily it will fall into abeyance in the Vacancy.
But good communication presumes a confidence in what we have to impart. I think this has remained consistently strong even as content and emphasis has changed. The JustShare coalition, perhaps never hugely supported from within the congregation (although certainly not opposed) has provided a platform in which to apply Christian wisdom to the impact that some of the City’s instruments and economic assumptions have on the poorest communities on earth. It has been tenacious, and I judge worthwhile. One of my most extraordinary experiences as rector was seeking to sell (in board rooms and parish halls) a Social Investment Bond launched here to create a fund for microfinance. Unfortunately, we timed it for the Financial Crisis and didn’t do as well as we hoped, but it assuredly was fun!
Another aspect of good communication has been the need endlessly to collaborate. I deplore the way in which City churches advertise themselves as ‘ the oldest’, ‘the biggest’, ‘the most important and Wren-like’ (and not just because SMlB as the ancient and Metropolitan church of the City, can compete with merit!); whereas what is needed is common cause for good objects – not competition for ever diminishing numbers. I think we have been light-footed in running with opportunities and
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challenges. It is almost the case that, faced with an opportunity, there must be a good reason to say ‘no’!
Our ancient association with Trinity, New York was at one substantial stage of the last twenty years fruitful for the sort of international collaboration – independent of hierarchical structure – which enabled common understanding of the huge issues of – for example - climate change, terrorism, financial crisis, pandemic and tourism affecting equally New York, Hong Kong, Toronto, Sydney, Chennai, Wellington, Auckland, CapeTown and London. It was a privilege to represent the parish internationally. The link with Trinity is a high priority for new eyes and energy.
But for my part none of this would have had purpose or attraction without the constant discipline and joy of devout worship. We have sustained daily prayer (everyone knows when it will be!) and eucharistic community, and in celebrating the feasts that fall to us in the week we have been encouraged by such wonderful music, and hence have a valued reputation for enlivening and beautiful liturgy (often assisted by half-decent preaching). In the context of declining liturgical standards across the Church, this should not be minimised.
And liturgical music has been the gateway for so much other music making; made possible not least by the acquisition of our fine Tickell organ in 2010, a continuing pool of talented choral singers, excellent direction and, in recent years the birth of the orchestra – the Academy of St Mary-le-Bow. Perhaps the most daunting task for any parish in our age – given the rather niggardly governmental support for historic architecture, is the maintenance of our building. My own sense is that within two generations this will be unsustainable – here and in most other places. But – and here my most valued collaboration has been with Antoine West (Clerk of Works for longer than I have been rector) – we have been equal to the task and I judge the church proper to be in a better condition
generally than at any stage since the rebuilding in 1964. That said huge challenges lie ahead, notably the refurbishment of the Lodging upon which so much else depends and the need to address both the heating system and our carbon footprint. Financially the terrain has also shifted seismically. The accounts in 2003 indicate a parish which had received in that year £96k of Voluntary Rate from local businesses (although I recall a good deal was back payment); the congregation donated a bit more than £6k and licence fees from the various businesses using parish land secure a further £23k. Equally we were only paying a fraction of the levy required by the diocese, although this was remedied quickly. Today by contrast our accounts point to only £9k of Voluntary Rate (assuredly the triumph of a vision of inclusion which excludes the Church); but £27.5k of congregational giving and licence fees of £50k. As far as the diocese is concerned, we pay rather more than our way. Happily in 2023, although posting a significant deficit, this is occasioned by the use of reserves towards plans for the Lodging and associated services and their environmental impact. In reality our ordinary activity achieved a modest surplus (a little under £10k) such that it is clear that we are ticking over – and at the same time effecting in the region of £30k worth of cyclical, minor and major works on the building. It is certainly satisfactory. As rector I have had many fine churchwardens and as I thank them all for support, counsel and guidance I pay particular tribute to David Saunders and Giles French who are embracing the demands of the Vacancy with resourcefulness and cheer. They are extremely competent and loyal, and I know will be grateful for the loyalty and support of the congregation and our stakeholders in the months ahead. I wish the parish well – and with gratitude – for all that lies ahead.
Staff and Volunteers
Nothing is achieved without personalities; although none of those employed when I arrived in 2002
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remain in office! Of course Clay Brookes-Irvine, our redoubtable maintenance man continues to employ his high quality skills and incomparable knowledge of the building and services on an occasional basis – he is assuredly an appreciated part of the furniture. Antoine West as volunteer Clerk of Works has a brief for the entire building and its needs.
What a business would describe as ‘re-structuring’ following the Pandemic, means that we are served by an office team of Danniella Downs, who on a full-time basis commands all the office functions together with those of sacristan, verger and buildings and events manager. In her two and a half years here, she has acquired a commanding knowledge of our ways and means as well as the affection of rector and people. She is well placed to face the rigours of the Vacancy. Our money remains ably managed day to day by Michael Byrne (although James Sanders remains elected treasurer with a roving brief and wide
responsibility) whose efforts mean that we only have recourse to outside assistance for the examination (but not the preparation) of our accounts. He is to be observed patiently discussing with the rector the principles of accrual and his determination of this income stream or that expenditure item. Just occasionally he concedes a point. Andrew Goodhart has just laid down his cheerfully borne voluntary task of managing the collection of the Voluntary Rate after twenty years and we were delighted to be able to thank him (together with his wife Gill) at the parish supper in December. Rather sketchily I estimated that his efforts (together with those of Sarah Mann stuffing the envelopes!) had raised in excess of £750k over that time!
Shehana Udat resigned in the latter part of 2023 as JustShare Co-ordinator, both to be married and to return to study. She served ably and continued the project through the Pandemic with tenacity. JustShare remains somewhat in abeyance until a new priest is appointed although it is in reality
jointly ‘owned’ by other stakeholders and notably All Hallows-by-the-Tower.
Our musical reputation is garnered and enhanced by our Director and Organist, Thomas Allery, a busy musician for whom SMlB is a principal loyalty. Livery Companies and wedding couples (and others) wax lyrical about his skill in refining liturgy which is memorable and affecting. He is a consummate and valued part of the team and enthusiastically embraces initiatives well beyond his duties and notably the Cheapside Chorus. Alex Fryer as artistic director of the Academy of St Mary-le-Bow assists notably with Tom’s direction of the LIVE annual music festival (sponsored so generously by the Cheapside Business Alliance); he is around a good deal and we are very glad of that. Sarah Mann continues to offer advice and perspective to LIVE.
It is often a joy that while there may be debate and music making taking place inside the building, the Bow Bells can be ringing quite independently. Simon Meyer (assisted by Ben Meyer and Andrew Meyer) manages the maintenance of the bells and the co-ordination and care of a keen band of ringers although with increasing difficulty in the face of changing working patterns. In the course of the year sound control has been electrified and impact can be controlled at the push of a button. Much of this project has been masterminded and achieved by the Meyers and by Clay. This is assuredly an advance and will be appreciated by any future resident of the Lodging.
The church is a big building and the multiplicity of users means that keeping it looking well (on which so many comment) is a large task. Blaga Serafimova as cleaner bears the major burden with good cheer. Additionally, her husband Bobby and the other staff of the flower stall assist with matters of security and access without complaint.
The Rector’s other Responsibilities Although many of these roles will be relinquished at retirement, inevitably the rector has been drawn
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into a range of other tasks which, before leaving comprised:
the Rector serves as Bishop’s Surrogate for Common (marriage) Licences.
He is Hon. Chaplain to the Britain-Australia Society and the City of London Club, as also the Arbitrators’, Firefighters’ and International Bankers’ Companies and as Master’s Chaplain of the Furniture Makers’ Company.
He is a member of the Committee of the Ward of Cordwainer Club and a Board member (non-voting) of the Cheapside Business Alliance. He is a Trustee of the Arthur Phillip Memorial Trust, of the Thomas Carpenter Trust and of the Dewi Sant Memorial Trust (the St David’s Society).
He is an Honorary Liveryman of the Worshipful Company of Grocers and an Honorary Freeman of the Worshipful Company of International Bankers. He is a Patron of the World Marmalade Festival
He is as a Trustee of the charity, Community, Housing and Therapy and of the Red House Stepney, which he chairs and which runs a modest residential facility in Kent.
The Rector’s Stipend in 2023 was £29,574.
The parish continues - and generously - to provide heating, lighting and cleaning to the Lodging.
George R Bush
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Picture— cover page St Mary-le-Bow and Cheapside during the Lord Mayor's Show taken by Simon Meyer
Picture– above Picture— page 5 The Rector with David A baptism of the daughter of Saunders (L) and Picture—right one of the members of the Giles French (R) at their Carol singers from Hayes congregation installation as Churchwardens raising money for charity
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Websites, Social Media & IT
Our email bulletin subscription list is currently at 394 subscribers with over 50% actively engaged.
Website statistics reveal the following, though this information should be treated as an overview and not as completely representative:
www.stmarylebow.org.uk
The website is functioning well and is a source of information that remains accessed by visitors.
@BowBellsChurch
Social media in the form of our Twitter account continues to grow followers steadily (we now have over 1,355 followers) and proves a useful way of flagging up events and mutually promoting others. Twitter continues to help us schedule alerts about
upcoming events, post links to recordings and other media, and develop a parallel audience to those already receiving our regular email bulletins. Take a look at our twitter feed here: twitter.com/ BowBellsChurch.
SoundCloud (https://on.soundcloud.com/tj8wq) Homilies and sermons are uploaded here. The most popular tracks are as follows Guided Tour of the Church - 663 Guided Tour of the Tower Entrance - 177 Guided Tour of the Crypt – 171
James White continues to manage our IT remotely with occasional visits to the church when necessary to deal with hardware issues.
Danniella Downs
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Concerts & LIVE in the Churchyard
Lunchtime Recitals and Evening Concerts This year the church has seen our Thursday lunchtime recitals continue on an almost weekly basis with a variety of programmes. Other events here at St Mary-le-Bow showcased the Virginia Glee Club from the US, Young Performers from the Royal College of Organists, The Cardinall's Musick, and students from Newton Prep.
The Academy of St-Mary-le-Bow Alex Fryer continues leading this talented young orchestra and we continue our support of their work through offering free use of the church for their rehearsals and concerts.
St Mary-le-Bow Organ Recital Series During November Thomas Allery arranged for four more organists to perform during our Thursday lunchtime slot as part of our own organ recital series.
Highbury Grove, St Paul’s Cathedral School, The Aldgate School, and Wren Academy, Enfield. We had a concert from The Academy of St-Mary-leBow, a choral concert from Fidelity International, and two evenings of Jazz in the churchyard with refreshments supplied by the Café BeLow. The Jazz evenings provided a chance for local social and business groups to have an informal social gathering. We welcomed a trio from the Guildhall, and the Cheapside Chorus once again formed to rehearse and present a concert.
Statistics Concert attendance 485 Income from Concerts £1,909
Danniella Downs
Picture below Thomas Allery introducing two young students to the organ during LIVE
LIVE in the Churchyard
Last summer saw a varied programme full of local talent. Our programme fielded a full five days of events including tours of both the church and the local area. A new initiative was workshops for primary school students who were introduced to the organ and all were given an opportunity to try it out! We had the following feedback… ‘Our organ experience at St Mary-le-Bow was absolutely fantastic. Alex and Tom were enthusiastic, knowledgeable and great with the children. The way the children's faces lit up when they first heard the organ was something I'll remember for a long time. It was a real priviledge for children from inner-London to visit a stunning church and to have a go on a gigantic and beautiful organ. It was a real treat.’
We were pleased to be joined by bands from the City of London School, the City of London Academy
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Christian Hospitality (Use of the Building)
Throughout the year the church played host to a number of livery company services, along with our Christmas carol services in December. We have also hosted a wardmote for the Cordwainer Ward, hosted a book-launch, and also meetings of the Ecclesiastical Law Society.
Our biggest event was the organising and hosting a dinner to celebrate the Coronation which saw the church turned into a dining area and the vestry into a professional-standard kitchen.
The Crypt Chapel has returned to use with local firm Fidelity using it for weekly choir rehearsals. There are two fellowship groups meeting who meet weekly.
Charitable Giving
Admiral Phillip Trust - £290.00 Bishop’s Lent Appeal 2023 - £388.13 Brit Oz Society - £262.50 Five Talents - £375.00 Young Homeless - £160.00 Shrewsbury House - £418.75 Parish Clerks - £277.50
TOTAL - £2,171.88
Academy of SMLB (Live Payment) - £1,900.00 OVERALL TOTAL - £4,071.88
Charitable giving in kind through support of the Academy of St Mary-le-Bow—£5,280.00
Danniella Downs
The vestry continues to provide a welcome meeting space for the PCC and the Fabric and Finance committees.
Picture below Alex Fryer (ASMLB) and Thomas Allery with students for a workshop on the organ as part of LIVE
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Father George had given the Parish 21 years of dedicated service and the PCC’s recognition of his service can best be summarised as recorded in the minute from the November 2023 PCC meeting – ….“Father George’s massive contribution to leading the Parish is hugely appreciated by us all.”
Parochial Church Council
During 2023 the membership of the PCC was: the Reverend George Bush (Chair), Oliver Boundy, Aaron Burchell, Margaret Burtt (Honorary
Secretary), William Dempster (completed his term of office at the APCM in April 2023), Giles French (Church Warden), Jacqueline Harkin, Daniel Hedley, Alan Hovell (Deanery Synod Representative), Andrew Mistry (co-opted onto the Council to serve for one year), Daniel Ryan (Deanery Synod Representative), James Sanders (Honorary Treasurer), David Saunders (Church Warden and Vice-Chair of the PCC), Victoria Snow, Michael Wainwright and Antoine West (Clerk of Works). Michael Byrne, Finance Officer, and Danniella Downs, Parish Secretary and Operations Officer attend meetings.
He leaves us with our heartfelt gratitude and warmest best wishes for a long and very happy retirement.
Some key items on the PCC agenda during 2023 are outlined below:
Appointment of a new Rector – at the November meeting the Council received a paper from Father Stephen Coleman, Chaplain at Grosvenor Chapel, and friend and former member of the Parish, outlining the formal arrangements for the appointment of a successor to Father George Bush during 2024. These arrangements are being led by the Church Wardens, David Saunders and Giles French.
Five PCC meetings were held during the year under the chairmanship of the Rector. Meetings take place in person and by Zoom video conference. The PCC were sorry to hear in November that Father George Bush planned to retire in early 2024.
Lodging and Sustainability Project – the Project to refurbish the Lodging is being chaired by Giles French, Church Warden, supported by a small group of PCC members.
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Picture left A dinner to celebate the coronation of King Charles III and Queen Camilla
Picture near right Mass for Maundy Thursday with Fr Stephen Coleman and Fr Dan Warnke
Picture far right Our Hon PCC Secretary Mrs Margaret Burtt prior to the Coronation Dinner
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At the January 2023 meeting there was a presentation from our architects, Matthew Lloyd Architects, who had been commissioned to draw up plans for the project, the aim of which is to achieve accommodation for more than 2 people. Reports on the project, including discussions on sources of funding, continued to be a major item on the agenda for each meeting. During the year planning consent for the project was sought and obtained. The need to start the work has been given added urgency by the retirement of Father George Bush and the appointment of a successor. Mission Action Plan – the PCC discussed in some detail revision of the MAP following the covid years of 2020/2021. At our March meeting we welcomed back to the Church Father Dan Warnke, Chaplain, Westminster School, who as Parish Ordinand, had facilitated much of the early development work on the MAP. He invited the Council to reflect on how the Parish had made its voice heard during the “grey years” of 2020 and 2021 whilst looking to see how this might be achieved in future. Notable innovations during that time were the introduction of the weekly online
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bulletins from the Rector and the establishment of an online Wednesday Evening Prayer Service. At the November meeting the revised MAP, in a format pulled together by Father Dan, was approved by the Council to be uploaded onto the Church website.
Scriveners Company – in July 2023 the PCC approved a resolution to the effect that “the Court of the Worshipful Company of Scriveners together with the Rector and PCC of St Mary-le-Bow resolve that…. the said parish church shall be deemed the Company Church…”
Safeguarding –the Church’s Safeguarding Policy is reviewed annually and a safeguarding report is presented to every PCC meeting in consultation with Danniella Downs, Parish Secretary and Operations Officer, and the Church’s Safeguarding Officer, Joanne Dempster. PCC members are expected to undertake basic safeguarding training and to refresh this every 3 years. No safeguarding incidents were recorded during the year.
Margaret Burtt
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Liturgical music
In terms of music, 2023 was a full and varied year. Our team of regular singers and our organ were able to serve the church’s liturgical, civic and concert life with variety and colour.
The organ featured highly in 2023. In January, Thomas Allery recorded a film (sponsored by the Eric Thompson Trust) called ‘Sounds of the square mile’ which was released in June 2023. The documentary style film features music by composers associated with the City, ranging from the eighteenth to twentieth century. The film is available on Thomas Allery’s youtube channel. During LIVE, we trialled a new initiative in offering organ workshops to primary schools children. Two primary schools (St Mary’s, Putney and John Scurr School, Whitechapel) attended the church for workshops led by Thomas Allery and Alex Fryer. This gave us chance to introduce the organ to children who had never heard one before. In small groups, 200 children came up to the organ loft, looked inside at the pipes, sat on the bench and played notes. There are plans to repeat this in future years.
During the autumn, we held four organ recitals, given by Jonathan Dods (St Michael and All Angels Bedford Park), Damin Spritzer (an American concert organist), David Ponsford (concert organist and professor at the Royal Academy of Music, and Thomas Allery. Attracting an audience for these recitals is difficult in a crowded scene in London, but we managed to bring in healthy audiences for each.
During lent, our regular soprano, Eloise Irving, performed arias from three Bach cantatas as part of the lent series, and our high masses across the year featured our usual variety of musical styles. An annual liturgical collaboration with the academy of St Mary-le-Bow took place at All Saints, where our quartet of singers sang Mozart’s missa brevis in D with beautiful accompaniment from the strings of
the orchestra.
Our community choir, the Cheapside Chorus, formed again during LIVE singing Vaughan Williams’ Five Mystical Songs with soloist Stuart O’Hara. The chorus met again at Christmas time to sing community carols around the parish during a December evening, once again attending one new change, Bow wine vaults and Haz. A small group of singers from the Cheapside chorus came together to sing choral evensong during LIVE as well as for one of the company carol services during December.
Thomas Allery
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Pictures of various musical events
Above—local carol-singers raising money for charity Right above—Thomas Allery directing the Cheapside Chorus in carol singing
Right below—Alex Fryer directing the Academy of St Mary-leBow
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Clerk of Works
The Lodging redevelopment
We reported last year on the feasibility study that we had commissioned from Matthew Lloyd Architects for the proposed refurbishment and redevelopment of the Lodging at St Mary-le-Bow, which is in urgent need of extensive improvement and modernisation.
It will be recalled that the Lodging, unusually in the Church of England, is inalienable to the Parish, whereas parsonage houses can generally be disposed of. It is an important asset, which the Parish needs to bring to a high standard reflective of the mission and ministry at St Mary-le-Bow. The study had outlined a range of improvements, involving reconfiguration of space in order to improve kitchen, bathrooms and living areas, and works involving major mechanical electrical and plant (MEP).
We had also reported that we had commissioned a report from Harely Haddow, MEP specialists, on sustainable provision of MEP as part of the reconfigured Lodging and possibilities for improving the sustainable performance of the church. This report has been kindly funded by the Diocese as it presents wider opportunities for adoption of more sustainable solutions across other churches in the Diocese. The outcome of the report has been worked into the design options for the Lodging so that the Lodging can be brought towards a carbon neutral footing, using a combination of solar panels and an air source heat pump. The redevelopment of the Lodging also presents the opportunity to build in the capacity within the roof space for the addition of further air source heat pumps that could assist with providing a sustainable source of heating to the church in the future.
We have alighted on a proposed scheme and this has obtained planning permission. We are proceeding with obtaining Diocesan Advisory Committee approval. The cost of the works will be substantial and, while we will be able to make a
contribution from the church’s own resources, we will need to raise a substantial amount of external funds. The redevelopment of the Lodging is a once in a generation – or two – opportunity to deliver a space to a high specification, which is welcoming and will continue to support hospitality and outreach.
Repairs and maintenance
We are continuing with our programme of repairs and maintenance that address any outstanding items raised in the Quinquennial Survey and Report on the fabric of the church prepared by Alex Sherratt of Matthew Lloyd Architects in 2021, which revealed that the fabric of the church building itself (leaving aside the Lodging) is generally in very good condition.
Further works have included work on the electrolier winches, to ensure that these remain in good working order; works on the clerestory windows; and minor tower repairs.
We are also continuing with a programme of internal decoration, including repainting of the ceiling in the chapel. We have continued with repairs to the church flooring; further monitoring of salts efflorescence in the undercroft and chapel; and making associated lime mortar repairs.
Our considerable thanks as ever to the Archdeacon, the City Churches Grants Committee, and our City neighbours, for their financial contributions to the cost of works and upkeep, enabling the church to be maintained in excellent condition for the benefit of all.
Antoine West
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Picture left—our new replacement bollards.
Picture above—abseilers scaling the Tower as part of the works required by the Quinquennial Report .
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Steeplekeeper’s Report
2023 has been an active year of ringing at St Mary-le-Bow. As well as our normal schedule of service ringing there was special ringing for the London Landmarks Half Marathon, the Carmen’s service, the Coronation, the Coronation Dinner and Live in the Churchyard.
Our bells continue to be popular with ringers and in 2023 eight peals, eleven quarter peals and, unusually, two half peals (there were only twenty-eight rung in the whole world in 2023) were rung. The current Master of the College Youths has expressed a preference for an increased focus on Bow for society practices in 2024 which we are hoping to accommodate.
The profile of Bow Bells continues to be high and all of this ringing reinforces that position, with many visitors coming to hear the bells. Additionally we featured on the front page of The Ringing World in relation to ringing for the Lord Mayor’s Parade this
refurbished/replaced whilst the others are in action, reducing interruption to the ringing schedule. Our second set of ropes were refurbished during the year and are available to swap in when required.
I would like to extend my thanks to Ben Meyer who has provided invaluable support over the year, and also Andrew Meyer who spent many hours crawling into mucky corners of the tower to assist with the upgrade of the sound control.
It has been many years since we have had a bell hanger service the bells. This used to be an annual occurrence but we felt that the increased attention we were able to give the bells ourselves reduced the need – and the cost. However I recommend we arrange for a maintenance visit in 2024 because there are things professionals can inspect (like the insides of bearings) that are beyond our capabilities. In summary I am pleased to report that the installation is well maintained and the bells are rung on all required occasions.
November.
We have continued with maintenance and improvements.
Simon Meyer Steeplekeeper
The sound control has been modified and electrified, delivering the goals of improved safety and extending the life of the sound control. Sound readings were taken before and after the work with the major finding that the background noise level has dropped by between 6 to 14 DbA, depending on location. The reduction in traffic on Cheapside will have been a major factor. However this makes interpretation of the data on the impact of the sound control difficult but no issues stand out. Please speak to me separately if you are interested. The new tenor clapper installed in January has been a great success and made the bell considerably easier to ring. The detailed calculations that went into its design, including monitoring both the swing times and clappering times of the complete ring, were awesome. This resulted in adjustments to the clappering time of the 10th as well.
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Picture above
Simon Meyer with the Rector and other Parish Clerks at the annual dinner.
We have two sets of ropes so that we can have one
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Deanery Synod
Artificial intelligence and migration. Churchyard deeds and architecture. Gender and sexuality. Finance and elections. This year, City churches discussed the widest span of topics of my time on the Deanery Synod. Our meetings were always prayerful and considered but, at times, also difficult.
I found the Deanery Synod meeting on ‘Living in Love and Faith’ to be painful. We met to discuss the Church of England’s navigation of identity, relationships, and sexuality. Twenty members from nine churches were invited to share reflections. George gave an incredible, two-minute history and contextualisation of the debate within social trends, anthropology, and political reaction.
For my part, I reflected on growing up as a gay man in London and asked if we might use the language of Christ’s open and giving love, more than words of shame, to continue our debate. Particularly poignant were several members’ stories of how their relationships and identities had been received by their churches.
I’m grateful that you allow me to represent our church to the City community. I really enjoy meeting our neighbouring parishes and learning about their different styles of worship, action, and challenges. Alan and I are very happy to share your thoughts with our wider family. Do be in touch.
Daniel Ryan
Picture below Dan Ryan (one of our Deanery Synod Reps) with the Rector and other members of the SMLB congregation enjoying some refreshment in the Vestry.
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continue to prosper.
Treasurer’s Report
Before I turn to the Parish’s finances, I must first thank Fr George for all that he has done during his 22 years as our Rector. I am sure that David Renton, my predecessor as Treasurer, would join me in saying how helpful it is in having had a Rector who was (more or less) financially literate and showed a great (possibly too great) interest in the parish finances. I will miss his support and guidance not only as a member of the congregation but also as Treasurer.
It is, therefore, with a great deal of pleasure that I am pleased to report that after his 22 years of stewardship of the parish and the many changes in the City over those, let alone dealing with a global pandemic, all things considered, St Mary-le-Bow's finances are in a satisfactory state. I can report that, before gains/losses on revaluation, we made a very small loss of £1,190 (2022: a loss of £1,969) during the year which means that we essentially broke even for the year. The accounts show an overall loss of £32,649 (2022: £84,715) for the year but this includes an exceptional item relating to the Lodging Project. There was also an immaterial loss of £722 on the value of the endowment fund. However, any gains and losses are unrealised and are, for the moment accounting adjustments only since we hold the endowment for the income that it generates rather than the value of the fund.
During 2023, our licence fee income from local businesses (£48,169) surpassed the 2019 pre-COVID figure (£43,350) which is very encouraging. However, we have seen a major change in how much we receive from the voluntary rate which was £9,668 in 2023 (2022: £8,856) but £46,102 in 2019. We do not expect this to recover to pre-pandemic levels.
It is though very encouraging that, despite the loss of voluntary rate income, we have broken even for the year which gives us a great deal of encouragement that our business model works and that we can continue to provide all that we currently do as a Parish. As always, we are extremely grateful to those businesses which do support the work of the Church by paying the voluntary rate, and we hope and pray that these and the businesses that pay us licence fees
The endowment fund continues to assist in funding the salaries of our staff and we continue closely to monitor our ongoing expenditure to ensure that we covered our costs.
Our ordinary expenditure of £274,339 (2022: £272,735) is higher than it was in 2019 (£260,469), mainly due to general inflationary cost increases.
In 2022 we resumed paying the full contribution to the Common Fund. The full contribution equates to the full cost of one stipendiary priest and, in line with the Diocese's guidelines that parishes should bear the cost of their incumbent and the proportional share of Diocesan and other expenditure, we have paid the full cost for many years (bar 2020 and 2021). In addition, although we are entitled to income from the Dame Margaret Slaney Fund (£1,339 in 2023), we direct that this is paid to the Diocesan Stipend Fund for use to pay stipends in poorer parishes in the diocese.
As you will be aware we are embarking on a major project concerning the Rector’s Lodging. There are currently many balls up in the air concerning this project including financial ones and how much cost will ultimately rest with the Parish is currently unclear. However, we have recently received news that we will be getting a significant level of support from the Diocese in respect of this but we will also be expected to try and raise funding ourselves. You will undoubtedly hear more about this in due course.
The Clerk of Works’ report also refers to some other important, albeit less expensive, matters which were dealt with during the year. The old adage of ‘a stitch in time saves nine’ is well applied to dealing with the fabric of an ancient building such as St Mary-le-Bow and all these small items are just as important as the big eye-catching ones.
As always, we must thank the Worshipful Company of Grocers, one of our patrons, for their continued and continuing support of the Parish both financially and non-financially. The former includes their paying for the insurance premium in respect of our silver which is kept securely for us at Grocers’
20
Hall. We must also thank the City Churches Grants Committee for paying the insurance premium in respect of our wonderful and historic building. I would also like to thank you all, the family of St Maryle-Bow. Our congregational giving continues to stand up well and certain individuals have also given us very generous donations. This has all greatly assisted us in remaining financially stable. Large donations are, of course, significant but the widow’s mite is just as important and the generosity of you all is much
appreciated.
Finally, I cannot finish this report without expressing my thanks to Michael Byrne for his hard work in running our finances and producing the accounts.
James Sanders
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Picture top
Members of the Grocers’ Company ready for a run to raise finds for charity. Apparently we are so well-behaved we get all of the Santas!
Picture above
Lecture from the Ecclesiastical Law Society.
Picture right
The launch of Fergus Butler Gallie’s book ‘Touching Cloth’ in partnership with Daunt Books.
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The Young Homeless Project
This small City charity takes young homeless people into safe flats rented from The Peabody Trust, who have generously allowed us to have them since we began this work 34 years ago. The object is to support the young people through all stages of recovery and stability to work and independence in their own flats. We also prepare other young homeless people for work and help them to get it. These objects have been current since we began. The young people learn how to live in shared accommodation, even to budget (the hardest of all things), to pay bills take part in society and be helped to work. They recover from the debilitating effects of being homeless or of offending, and then they are helped with training and / or (further) education towards work they would like to, and can do.
This is done by the two staff, who have worked for this City of London charity since its inception. One of the staff works more with the young people. He is able to advance the young people by being tolerant, experienced and sympathetic. He and we do not cosset the young people. He moves them towards work and independence. ln the flats, they may stay for as long as they need to stay. The average is one year. When they are stable and have jobs and are ready for independence, we help them move to their own places. Without this sort of preparation, their entry to independence, work and their own flats would lead to failure.
While with us, if they are working, we charge them a small ‘rent’ so they learn they must save and pay it. We keep it as a deposit or other help when they go to their own flats. They would never save the sums needed. Here we recognize the enormous help we have received from The London Hostels Association, whose interest in what we do is matched by their generosity with the rent. The link with the imaginative and generous Peabody
Trust is recognized not only in London organisations relating to young homeless people, but also throughout the City of London's institutions and livery companies. They appreciate its smallness and that it’s work is comprehensible, and leads to measurable success.
The Apprenticeship Scheme, started fourteen years ago with Pret a Manger, continues to take our young people into jobs, without experience and often with criminal records. This is rare, as other organisations find the risk too great. The young people are given three months in which to prove a reliability at Pret, and if they do, they are offered permanent employment. The young people stay and work well because the management is experienced and tolerant, their colleagues congenial and the work giving them the first experience of it they have had.
For all of them, our work ranges from them producing a suitable CV, practice interviews, learning how to behave in work and in society. lt then moves on to the requirements of a job, applying, getting it and using the confidence that comes with the achievement of work to become independent of us and of State benefits.
lf they fail at this independence, they may come back to us. This happens to lives that have risen to a job and apparent stability in their own flats, and then collapses. They come back and start again, if we have room.
There is no office rent, little equipment and low overheads. Grants are sought and reports are made on time. The City, particularly the Livery Companies, appreciate this, understand what we do and approve of it and our reporting to them of the work.
Michael Kenny
Pictures on opposite page Images from the dinner held to celebrate the Coronation of King Charles III and Queen Camilla
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prompts for further actions. We are at 91% and
Safeguarding
doing well. There have been no reported safeguarding incidents this year.
We are now able to monitor the church’s compliance using a Parish Safeguarding dashboard created and maintained by the Diocese to enable churches to keep a record of activity and to receive Joanne Forster
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23
Just Share
Shehana Udat left the post of Co-ordinator after six years.
She has returned to further studies and also got married. She was most sincerely thanked for her work.
The JustShare Co-ordinator post is currently vacant and we are using this period to re-evaluate our impact and fellowship. Apart from Events, we want to consider some of our earlier interests (Fairtrade and Sustainability; Impact Investment) and examine a new one – Research.
We held four events during 2023.
January - War in Ukraine: The impact on the world’s poorest
More than three months since the start of the war in Ukraine, people globally are facing a cost-of-living crisis not seen in more than a generation, with escalating price shocks in the global food, energy and fertiliser markets - in a world already grappling with the COVID-19 pandemic and climate change.
Speakers:
Olena Borodyna - Transitions Risks Analyst at ODI Tim Cargill - Chief Executive at Wilton Park Chairperson: Revd Chris Brice
February - Tackling the Cost of Living Crisis
In the UK, we are experiencing the worst decline in living standards since the Industrial Revolution as the price of the basics – energy and food – soars, forcing more than a million people into poverty. The crisis shows few signs of slowing any time soon. It is predicted to get worse before it gets better, with the Bank of England forecasting inflation to reach 13 per cent during Q4 2022 and to remain elevated through much of 2023.
Speakers:
Hannah Rich, Senior Researcher, Theos Think Tank Christopher Snowdon, Head of Lifestyle Economics, Institute of Economic Affairs
Joanna Charlton, Communications Lead, PlaceShapers
May - For good and ill – The Anglican Communion, development and homophobia
The Anglican Church plays a crucial role in development in some of the world’s poorest countries, often supported by links with the Church of England. But some Provinces of the Anglican Communion have supported the criminalisation of LGBT+ people (most recently in Ghana). And the Archbishop of Canterbury has cited the unity of the Anglican Communion as a reason for opposing the equal treatment of LGBT+ people in the Church of England. How should we think about the role of the Anglican Communion in development, and how best use the Communion for good, without sacrificing LGBT+ people here and abroad?
Speakers:
Fr Charlie Bell – Anglican priest in the diocese of Southwark and a Fellow at Girton College, Cambridge Jayne Ozanne – Director, Ozanna Foundation
September 2023 - The NHS workforce: ethical international recruitment
Whilst the world is struggling to train, employ and retain a sufficient and skilled health workforce, the NHS is hiring more doctors from outside the UK and European Economic Area than from within for the first time. This has set off a moral argument over the health services' growing mentality of 'poaching' from the developing world.
The NHS has grown heavily reliant on doctors from overseas who have and continue to make an
24
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enormous contribution to our health service. This was evidenced during the pandemic as international doctors were front and centre of the battle on the NHS frontline.
The NHS depends on migrant health workers and we should celebrate their contribution. But with this moral and ethical questions arise. Is the NHS 'brain-draining' other countries for a quick fix to workforce problems? Is it time that compensation was back on the table? Should we need to pay the countries that trained them?
Speakers:
Fr Charlie Bell - Anglican Priest and academic psychiatrist at The Maudsley Hospital, South London
Martha McCarey - Brexit and Health Researcher, Nuffield Trust
Chairperson - David Skuse, Professor of Behavioural and Brain Sciences at the Institute of Child Health University College London
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[The Boyle Lecture ]
The 2023 Lecture was given on 13th February by the Rt Revd and Rt Hon the Lord (Rowan) Williams of Oystermouth, entitled “Attending to Attention”, with the Response from Dr John Teasdale.
It was followed by a reception at the Mercers Hall. As with last year, there was also YouTube Premier of the Boyle Lecture, with a subsequent panel discussion at which attendees were able to ask questions in real time; this was held on 23 March. Both the Lecture and the Discussion are available on YouTube and Podcast, and between them have so far been watched over five thousand times.
The Lecture and Response was published in Zygon in the December issue, along with an article by Fraser Watts on Lord Williams’ theology of attention and memory in the spiritual life.
Fraser Watts
Pictures
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Rt Revd and Rt Hon the Lord (Rowan) Williams alongside David Saunders (Churchwarden) and Sarah Mann
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Picture Bow Be1151 27
St Mary- le- Bow Church Annual Accounts 2023
ST MARY-LE-BOW REFERENCE AND ADMINISTRATIVE INFORMATION AS AT 31 DECEMBER 2023 Charlty Number 1130098 Objects and Public Beneflt The purpose of the church is promoting in the parish the whole mission of the Church. The PCC members have taken full recognition of the requirements of section 17 of the Charities Act 2011 in regard lo public benefit. Governing Documgnt The Church is governed by the Parochial Church Councils (Powers) Measure 1956 las amendedl and the Church Representation Rules Iconlained in Schedule 3 to the Synodical Government Measure 1969 las amendedll. Members of the Paro¢hlal Church Council IPCCI Rector & Chair.. The Revd George R. Bush (ex Off10) 7h8 Reclorgave notice on 4 November 2023 of his intention to retire in 2024. Churchwardens.. Giles French lex officio) David SaundeTS lox officio) The Ghurchwardens were ele¢l&d in 2023 and sewe forone year. Clerk of Works.. Antoine Wesl (until 2024) Represenlalive8 to the City Deanery Synod." Alan Hovell lunlil 20261 Dan Ryan (until 20261 Elected I Co-opted Mombers.. OINer Boundy lunlil 20241 Andrew Mislry lunlil 20241 Margaret Burtl lunlil 20251- PCC Secrelary & Electoral Roll Officer Michael Wainwright lunlil 20251 Aaron Burchell lunlil 20261 Jacqueline Harkin lunlil 20261 Dan Hedley lunlil 2D261 Alan Hovell lunlil 20261 Dan Ryan lunlil 20261 James Saunders lunlil 20261- Hon. Treasu[ Vicky Snow lunlil 20261 Parish Officers Operations Officer.. Director of Music.. Danniella Downs Thomas Allery
ST MARY-LE-BOW REFERENCE AND ADMINISTRATIVE INFORMATION Icontinuedl AS AT 31 DECEMBER 2023 Office Addr&ss Cheapside London EC2V 6AU Bankers HSBC 1-3 BishDpsgale London EC2N 3AQ Indèpendent Examiner Nik Fisher Simia Wall Devonshire House 582 Honeypot Lane Middlesex HA7 1 JS Quinquennial Inspectlng Architect Alex Sherralt Matthew Lloyd Architects LLP 18 The Hangar Perseverance Works 38 Kingsland Road London E2 8DD Surveyor Bob Wilson Edwards Wilson The Gallery Sl Margaret Patlens Rood Lane London EC3H 1HS
ST MARY-LE-BOW PCC REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Responsibiliti•$ of thè Parochlal Church Councll {PCCI In r•latlon thè Flnanclal Statements The PCC is responsible for preparing tho Annual Report and the financial stalernen18 In accordan¢e with applicablg law and United KSngdom Accounting Standards Iunltgd Klngdom Generally Accepted Accounts'ng Practice.) Tho Church Accounting Regulations 2006 and the law applicable to charities in England and Wales require the Members of the PCC tts prepare financial slalemenls for each finan¢ial year whlch give a true and falr vlew of the stale ol the affairs of the PCC and of the Incoming resources and application of resources of the PCC for th81 perfod. In preparlng these financial slalemenls, th8 PCC are required to.. select suitable accountlng policies and then appty them consLsl8ntty' observe the methods and prfnclples in the Charities SORP., make judgements and estimatés that are responsible and prudent., slate whether applicable UK aecounling standards have been followed, 8ublgCt lo any m8t8rial dgpartures dlsclosed and explained in th9 financSal slalemenis., pr8par6 the financial slalemenls on the going ¢on¢ern unless it is inappropriate lo presumè that the charity wlll continue In buslness. The Members are reswnsible for keeping Bccounting records which disclose with reasonablg accuracy 81 any lirne the flnancial position of th8 PCC and enable them tu ènsur8 that the financial slalements comply with The Church Acoounling Regulations 2006 and S.145 of the Charft18s Act 2011. They are also responsible for safeguarding the assets of the PCC and hencB lor taking reasonable steps for IhB prevention and detection of fraud and other irregularities. Rlsk8 The Trustees have revlewed the rlsks of Sl Mary-le-Bow durlng the year and believe that existing conlrols and procedures are best suitèd to meet its objeclives. Approvèd by the PCC on 21 March 2024 nd signed on Its behalf by.. James Sanders Hon. Trgasvror
INDEPENDENT EXAMINIER'S REPORT TO THE PCC OF ST MARY.LE-BOW I r8POrt on the accounts of Sl Mary-le-Bow for the year ended 31 December 2023, which comprlse th8 Slalemenl gf Flnancial Aclivilies, Balanca Sheet and related notes. Rgspectlvg ReBponslbllities ol the PCC and Examln¥r As memb9rs of the PCC you aTe Tesponslble for the Preparallon ofthe accounts. Thè charity's trustee5 consider that an audit is not requirpd for thSs year under SectSon 144121 of the Charifies Act 2011 {Ihe 2011 Aoll and that an independent examination Ss needed. 11 Is my responSIlitY to.. examlne the accounts under Section 145 of the 2011 Act., follow the procedurés laid down in the general direclions given by the Charity Commi%sion undar Sectlon 145151(bl ol the 2011 Act.. and slate sthelher partlcular mattgrs have come lo my attentlon. Bas1$ of Independgnt Examln8r'8 Report My examination wa5 carrIj out In accordanc8 wllh thè G8neral Dlrecllons glven by the Charity Cornmission. An exBminalion includes a review ol the accounting rewrds kept by the PCC and a comparison of thè a¢¢(xsnls pr&&ent %Mth those records. 11 also includes consideration of any unusual Items or dlsclosures In the accounls, and seeking explanations frorn you as Irusl&ès concernlng any such mallers. The procedures undertaken do not provide all the evidence that would be required In an audit and consequently opbnlon 18 given as lo whether the accounts present a 'lrue and fair view. 8nd the report Is Ilmiled lo those mallers sel out in tha statement below. Indep•ndènt Examlngr's Statement In connecllon with my examlnallon, no matter has come to my allentK)n: which gives me reasonable cause lo bolieve that in any material Tespecl the requlremenls to keep accounllng records In accordance with Section 130 of Ihg 2011 Act,. and lo prepare accounts which accord with the accounting records arld comply with the accounllng requirements ol the 2011 Act have not been mel., or 21 lo whiGh, in my opinion, attention Should be drawn In order lo enable a proper understandlng of the accounts lo bg reached. Nlk Flsher SIMIA WALL Indeponéent Examlnor Chartered Accountants
ilJJ Simla Wall Date: Devonsbire Hise 582 Honeypot la ,)14nmure. Middlosex H Tpl. n?08 7J2 knroo IJS
ST MARY-LE-BOW STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR-ENDED 31 DECEMBER 2023 Note Unreslricled Reslricled Endowment TOTAL TOTAL Funds 1£) Funds 1£) Funds (£1 2023 1£) 2022 (£1 INCOME 77,385 6,000 83,385 112,635 Voluntary income Investment income 10.746 47,098 57,844 52,201 Other income 68,248 63.672 131,920 105,930 TOTAL INCOME 156,379 116.770 273,149 270,766 TOTAL EXPENDITURE 1146,425} 1127.9141 {274,3391 1272,7351 NET INCOME BEFORE REVALUATIONS 9,954 11,144) 11,1901 11,9691 Gainsl (losses) on investment revaluation 18,299 {19,0211 17221 {73,3441 NET MOVEMENT IN FUNDS BEFORE EXCEPTIONAL ITEM 28.253 111,144} 119,0211 11,9121 175,3131 Transfers 16,4141 6,414 Exceptional items (Lodging Project) 2&3 130,7371 130,737} 19.402} NET MOVEMENT IN FUNDS AFTER EXCEPTIONAL ITEM 18,898 14.7301 119,0211 132,6491 184.7151 Total Funds as 81 1 January 2023 465.360 10,499 809,485 1,285,344 1,370,059 Total Funds as al 31 December 2023 456,462 6.769 790,464 1,252,695 1,285,344
ST MARY.LE-BOW BALANCE SHEET AT 31 DECEMBER 2023 Nole 2023 2022 Flxed Assets Tangible assets Inveslmenls 1.001.578 1,002,300 1,001,578 1,002.300 Current Asset$ Debtors 13,757 7,755 Cash at bank 241,033 281.447 254,790 289,202 Current LlabllStles Creditors.. Amounts falling due withln one year 10 {3.673) {6.1581 Not Current A55ets 251.116 283,044 TOTAL FIXED ASSETS AND NET CURRENT ASSETS 1.252,695 1,285,344 Parlsh Funds Generdl funds 456,462 465,360 Reslricled funds 5,769 10.499 Endowment funds 790,464 809,485 TOTAL FUNDS 1.252.695 1,285.344 Approved by the Parochlal Church Councll and aulhorisèd for Issue on 21 March 2024 James Sanders on. Tr&a$ur8r
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES The principal accounting policies which aTe adopted consistently in the preparation of the financial statements are sel out below.. Basis of accounting The financial slalemenls have been prepared in accordan with the Church A¢¢Dunling Regulations 2006 together with applicable accounting standards and the Current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS102. The financial slalemenls have been prepared undei the historical cost convention except for the valuation of investment assets. which are shown al market value. The financial statements include all Iransaclions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings ol church members. Incoming resources Planned giving, collections and donations are recognised when Teceived. Gr8nls and legacies are accounted for when the PCC is legal enlilled lo the amounts due and they can be quantified with reasonable ¢ertainly. All other income is recognised when il is receivable. All incoming resources are accounted for gross. Resources expended Grants and donations are accounted for when paid over. The diocesan parish share is ac¢ounled for when due. All other expenditure is generally recognised when il is incurred and accounted for gross, and is allocated between activities on the basis ol the resources used. Movabl& church furnishings Movable church furnishings held by the rector and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory. which can be inspected lal any reasonable limel. For anything acquired prior lo 2000 there is insufficignl cost information available and therefore such assets are not valued in the financial slalemenls. Consecrated land and bulldings Consecrated land and benefice property 18 excluded from the financial statements under S10.2 01 the Charities Act 2011.
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES l¢ontinuedl Equipment, fixtures and fittings Equipment used within the church premises is depreciated on a slraighl line basis over three years. Individual items of equipment with a purchase pri of £500 Dr less are wrillen off when the asset is acquired. Invègtments Investments are staled al market value al 31 December 2023. Any gains or losses arising on revaluations are transferred lo the Slalemenl of Finan¢ial Aclivilies. Cash is held on deposit with HSBC, Unity Trust and Melrobank lo be used in church business on continuing basis. Fund accounting Endowment funds are funds, the capilal ol which musl be maintained., only income 8rising frorn investment of the endowment may be used either as restricted or unreslricled funds depending upon the purpose for which the endowment was established. Restricted funds represent lal income from trusts or endowments which may be expended only on those reslricled objects provided in the terms of the trust or bequest, and Ibl donations or gTanls received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent al the end Df the year musl be carried lorward as a balarice of that fund. The PCC does not usually invest separately for each fund. Unrgslricled funds are general funds which can be used for PCC ordinary purposes.
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Incoming Funds Unrestricted Re$trict8d funds Funds Total 2023 Total 2022 Voluntary income Regular congregalitsnal giving Collections (open platel Grants Donations, appeals & legacies Collection boxes Gift Aid and VAT recovered 27,455 6,660 4,250 15,753 9,043 14.224 27,455 6,660 10,250 15.753 9,043 14,224 25,710 6.285 43,827 12,343 7,714 16,75S 6,000 Total voluntary income 77,385 6,000 83.385 112,635 Income from Investments Bank interest and dividends Other investments 4,975 5,771 4,975 52,869 529 51,672 47,098 Total invoslmenl income 10,746 47,098 57,844 52,201 Other incoming resources Sundry income Parish fees Voluntary church rates Music in¢ome Licence fees City Parochial Fund Just Share Rector's Discretionary Fund Other Restricted income 5,792 1,414 9,668 1,909 48.169 1,296 5,792 1,414 9,668 1,909 48,169 1,296 6,945 4,164 52,563 9,932 94 8,856 1,675 39,575 1,296 8,335 3,680 32,487 6,945 4,164 52.563 Total other Income 68,248 63,672 131,920 105.930 Total income excludlng Exceptlonal Projects 156,379 116,770 273,149 270.766 Lodging Project Total income including Exceptional Projects 156,379 116,770 273,149 270,766
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Footnotes lo Note 1.. 1.1 Grants 'General Grants, 01 £4,250 (2022.. £6,891) includes grants received from the Grocers, Company and the Mercers, Company. We record our gratitude lo both Companies for their continued support. 'Reslricled Grsnls, of £6.00012022.. £36,9361 refers to a grant received from the Cily Churches Grants Commillee lo facilitate an energy options 8ppraisal. We record our gratitude lo the Commilloe for ils continue support. 1.2 Funds raised for other ch rilies 'Olher rgslricled income, of £52.563 includes £2,309 12022.. £1,863) collected al various services and events for the benefit of other charitS and subsequently disbursed lo them. Lodglng Project The parish is Currently considering how lo upgrade the Rector's Lodging. Given the exlenl of the sums likely lo be involved, all income and expenditure relating lo the Lodging PiojeGI is shown this year land was shown last yearl as an Exceptional Item in the Slalemenl of Financial Aclivbties. The nel expenditure charge of£9,402 in last year's accounts laclual cash expenditure of£6,414, together with a¢¢rued expenditure of £2,988) was shown as an Exceptional Item within Restricted Funds in 2022. It was decided this year that income and expenditure associated with the Lodging Project. while still lo be chara¢terised as 'Exceplional', should be shown in General rather than Restricted Funds. To effect this change.. all 2023 expenditure Icash expenditure of £33,725, reduced by reversing last year's acciual of £2.988 to give a nel charge of £30,737) is shown as an Exceptional Item within this year's General Funds., and the £6,414 012Q22 cash expenditure has been moved by 8 Tr8nsfer on the face of the Slalemenl ol Financial Activities from this year's Reslricled lo this year's General Funds.
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 3. Funds Expended Unrestricted Restrlcted funds Funds Total 2023 Total 2022 Common Fund Paiish expenses Major repairs Repairs & renewals Rates & water ElectrtY & gas Office costs Music expenses Sacristy Depreciation Legal, professional & examiner fees Bank ¢harges & interest Just Share Rector's Discretionary Fund Olher reslricled expenses Verggr & Finance Officer costs Other staff costs 74,100 8,509 27,241 1,520 596 10,796 6,322 3.746 1,095 74,100 8,509 27,241 1,520 596 10,796 6,322 3,746 1,095 71,260 7,124 28,025 4,820 495 13,186 6.101 4.155 692 3,230 324 3,230 324 8.147 4,002 68,667 43,370 12.674 5,232 346 10,333 3,064 64,070 41,804 12.028 8,147 4.002 68,667 35,653 11,445 7,717 1,229 Total expenditure excluding Exceptional Prolects 146.425 127,914 274,339 272.735 Lodging Project 40,139 19.4021 30,737 9,402 Total expenditure including Exceptlonal Projects 186,564 118.512 305,076 282,137 12
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Licence Fees During the year licence fee payrnenls of £48,16812022.' £39,673) were received from the Café Below, Bow Wine Vaults, Taberna Elrusca, the Coptic Orthodox Church, the flower and shoeshine stalls, the Fidelity choir, and a number of other groups. Staff Costs 2023 2022 Wages and salaries Pension (Nestl 42,015 1,386 39.906 1,426 43.401 41,332 The salary and pension costs slated here include those of the Operations Offir, the Director of Music. and tho CSeaner. The salary and pension costs slated here exclijde those of the Just Share officer (who resigned in September 2023 and whose salary was charged against a specific reslricled fund} and the Finance Officer, who is paid on an invoice-iendered basis. Fees invoicèd by the Finance Officer ¢ame lo £12,80012022.. £12,800). The salary & pension contribution paid lo the Just Share Coordinator Iwho resigned in September 20231 was £8,17412022.. £10,273}. Sale of Silver Fund income Income realised from the Sale of SilveT Fund during the year tolallod £47,09812022." £45,721>. As Note 1 shows, this income has been calegorised as reslricled because the Church is permitted lo offset rtain slaff costs against the income realised from the Sale of Silver Fund. Note 3 in turn shows that certain staff costs Ilolalling £47,098} have been calegoriged as restricted expenditure to match the Sale of Silver Fund income. Payments to PCC Memb8rs An immaterial portion of the expenses paid lo the incumbent may have related lo his services as chairrnan of the PCC. No other payments 01 expenses were paid lo any other PCC member, persons connected with them or related parties. There were 212022.. 3) employees at Sl Mary-le-Bow as al 31 December 2023.
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Tangible Fixed Assets EquSpment Fixtures & Fittings Movable Church Fyrns Total Cost Al 1 January 2023 and 8131 December 2023 7,452 3,016 10,468 Depreclatlon Al 1 January 2023 7.452 3,016 10,468 Provision for the year At 31 December 2023 7,452 3,016 10,468 Nel book value Al 1 January 2023 Al 31 December 2023 Fund details The restricted funds include 4,465 units of the Sale of Silver fund which are subjected lo direction from the Court and therefore are not pemnilled lo be withdrawn. The endowment fund includes the balance of units on the Sale of Silver fiJnd150,620 unilsl which a5 outlined in Note 5 are used lo fund the salary of the Operations Officer and the fees charged by the Finance Officer. They may also be used on a discretionary basis for the salaries of other members of staff. Investm&nts- UK 2023 2022 Market value al 1 January 2023 Nel gain (loss) on revaluation 1,002,300 17221 1,075,844 173,3441 Al 31 December2023 1,001,578 1.002.300 Managed funds Cash 1,001,578 1,002.300 1,001,578 1.002.300 The year-end balance of £1,001,578 was held with M&G Ilhe Sale of Silver Fundl valued al £790,46412022.. £809.4851. and in a CCLA Capital Fund valued at £211,11412022.' £192,815). Historical cost of the managed funds al 31 December 2023 was £229,25812022'. £229,258). Debtors 2023 2022 Debtors 13.757 7,755 14
ST MARY-LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Amounts falling due within one year 2023 2022 Creditors and accrued expenses 3,673 6.158 11. Unrestricted funds Balance at Incoming Rasourc8s Revaluationl Balance at 01-01-2023 Resources Expended Transfers 31.12.2023 Unroslrictod fund 465,360 156,379 1177,1621 11,885 456,462 12. Restricted fund5 Balance at Incomlng Resources Rfrvaluatlonl Balance at 01-01-2023 Resources Expended Transf8rs 31-12-2023 Restricted funds 10,499 116,770 1127,9141 6,414 5,769 13. Endowment Funds: Balance at Incoming Resources Revaluationl Balance at 01-01-2023 Resources Expended Transfers 31-12-2023 Sale of Sier Fund 809,485 119,0211 790,464 The Consistory Court directed in April 2009 that the proceeds of the Sale of Silver Fund may be used lo indemnify the PCC for employing persons lo do the work of a verger and other functions. 14. Dame Margaret Slaney Fund Two letters from the Church Commissioners lo the Grocers, Company acknowlerlge a gift from the Company of £4,024 in 1978 which was subseqLJenlly diTecled lo the London Diocesan Fund lo be held 'as capital lo provide income for the stipend of the incumbent of this particular benefice ISI Mary-le-Bowl'. That 'D8me M8rgar&l Slaney, fund is held by the diocese and used to offset a proportion of the Common Fund payment which represents the Rector's stipend. The value ofthe fund was £19.933 al 31 December 202312022.. £21,262) and the income earned by the fund during 2023 was £1,339. Those numbers do not form part of these accounts and a reported here for information purposes only. 15
ST MARY.LE-BOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Funds held as Custodian Trustee Al the year-end the church held an amount of US$22.935 on behalf of the Trinity Church in New York for the purpose of Conlribuling towards the cost of conferences and meetings with similar church leaders. During the year, Trinity Wall Street gave permission for the dollar-equivalent of £584 ID be withdrawn from that account and used lo part-fund the Dinner he lo celebrate the Coronation of The King and Queen in May 2023. 16