| CONTENTS | Page | ||
|---|---|---|---|
| Reference and Administrative | information | ||
| Trustees' Report |
|||
| Independent Auditor's |
Report | 14 | |
| Statement of Financial | Activities | 17 | |
| Balance Sheet | 18 | ||
| Statement ofCash flows | 19 | ||
| Notes to the Financial | Statements | 20 |
| Unrestricted | Restricted | Endowment | Total | Total | |||
|---|---|---|---|---|---|---|---|
| Note | Funds | Funds | Funds | 2022 | 2021 | ||
| f | f | f | f | ||||
| INCOME FROM | |||||||
| Donations and legacies |
624,358 | 267,420 | 891,778 | 608,048 | |||
| Charitable Activities |
250,855 | 85,876 | 336,731 | 399,173 | |||
| Investment Activities |
21,033 | 21,033 | 33,302 | ||||
| Other Income | 16,055 | 16,055 | |||||
| TOTAL INCOMING RESOURCES |
912,301 | 353,296 | 1,265,597 | 1,040,523 | |||
| EXPENDITURE ON | |||||||
| Raising Funds | 1,604 | ||||||
| Charitable Activities |
912,190 | 101,753 | 1,013,943 | 842,670 | |||
| TOTAL RESOURCES EXPENDED | 912,190 | 101,753 | 1,013,943 | 844,274 | |||
| Net Gains/Losses on Investments |
50,000 | ||||||
| NET INCOME/(EXPENDITURE) | 251,543 | 251,654 | 246,249 | ||||
| Gross Transfers between | funds | (193,747) | 157,665 | 36,082 | |||
| NET MOVEMENT IN FUNDS |
(193,636) | 409,208 | 36,082 | 251,654 | 246,249 | ||
| Reconciliation ofFunds: |
|||||||
| Total Funds brought forward | 256,626 | (235,323) | 1,100,000 | 1,121,303 | 875,054 | ||
| Total funds carried forward | 62,990 | 173,885 | 1,136,082 | 1,372,957 | 1,121,303 |
| Notes | 2022 | 2021 | |||
|---|---|---|---|---|---|
| FIXEDASSETS | |||||
| Tangible assets | 11 | 60,628 | 33,418 | ||
| Investment Properties |
12 | 1,100,000 | |||
| Sociallnvestment Property |
13 | 1,136,082 | |||
| 1,196,710 | 1,133,418 | ||||
| CURRENT ASSETS | |||||
| Debtors | 15 | 62,442 | 371,156 | ||
| Cash at Bank and on Deposit | 362,697 | 200,014 | |||
| 425,139 | 571,170 | ||||
| CREDITORS: AMOUNTS | FALLING DUE | ||||
| WITHIN ONE YEAR | 17 | (124,421) | (314,870) | ||
| NET CURRENT ASSETS | 300,718 | 256,300 | |||
| NET ASSETS LESS CURRENT LIABILITIES | 1,497,428 | 1,389,718 | |||
| CREDITORS: AMOUNTS | FALLING DUE | ||||
| AFTER MORE THAN ONE YEAR | 18 | (124,471) | (268,415) | ||
| NET ASSETS | 1,372,957 | 1,121,303 | |||
| FUNDS | |||||
| Endowment Funds |
20 | 1,136,082 | 1,100,000 | ||
| Restricted Funds |
21 | 173,885 | (235,323) | ||
| Unrestricted Funds |
62,990 | 256,626 | |||
| TOTAL FUNDS | 1,372,957 | 1,121,303 |
| Notes | 2022 | 2021 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| f | f | ||||||||||
| Net cash (used by)/provided | from operating | activities | 24 | 548,362 | (86,880) | ||||||
| Investing activities |
|||||||||||
| Purchase oftangible fixed assets |
(69,985) | (21,539) | |||||||||
| Additions to Sociallnvestment | Property | (36,082) | |||||||||
| Rent Received | 21,033 | 33,302 | |||||||||
| Net cash (used by)/provided | from investing | activities | (85,034) | 11,763 | |||||||
| Financing Activities | |||||||||||
| Repayment of bank loans |
(300,645) | 134,165 | |||||||||
| Net cash (used by)/provided | from financing | activities | (300,645) | 134,135 | |||||||
| Net change in cash and cash | equivalents | in | the | period | 162,683 | 59,048 | |||||
| Net cash and cash equivalents | brought | forward | 200,014 | 140,966 | |||||||
| Net cash and cash equivalents | carried forward | 362,697 | 200,014 |
| St | Paul's Church f |
St Paul's Centre f |
Grants f |
2022 Total f |
2021 Total f |
2021 Total f |
|||
|---|---|---|---|---|---|---|---|---|---|
| Income | from charitable | activities | 115,371 | 170,484 | 50,876 | 336,731 | 399,173 | ||
| Analysis | by fund | ||||||||
| Unrestricted funds |
80,371 | 170,484 | 250,855 | ||||||
| Restricted funds | 35,000 | 50,876 | 85,876 | ||||||
| 115,371 | 170,484 | 50,876 | 336,731 | ||||||
| Forthe | year ended 31December | 2021 | |||||||
| Unrestricted funds |
76,968 | 75,697 | 140,000 | 292,665 | |||||
| Restricted funds | 106,508 | 106,508 | |||||||
| 76,968 | 75,697 | 246,508 | 399,173 | ||||||
| 4. | INVESTMENT INCOME | ||||||||
| Unrestricted | 2022 | 2021 | |||||||
| Funds | Total | Total | |||||||
| f | f | f | |||||||
| Income from let properties | 20,612 | 20,612 | 33,288 | ||||||
| Interest receivable | 421 | 421 | 14 | ||||||
| 21,033 | 21,033 | 33,302 |
| Unrestricted | 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Total | Total | |||||||
| f | f | f | |||||||
| Cost | of | renting | and | maintaining | let | properties | 1,604 | ||
| 1,604 |
| 6. EXPENDITURE |
6. EXPENDITURE |
ON CHARITABLE | ACTIVITIES | ||||
|---|---|---|---|---|---|---|---|
| St Paul's Church |
External & Charitable |
St Paul's Centre |
One Offs / Events |
Total 2022 |
Total 2021 |
||
| Giving | |||||||
| Church activities | 19,697 | 8,535 | (2,232) | 683,818 | 644,052 | ||
| Property costs and site | |||||||
| management | 115,660 | 69,704 | 185,364 | 133,738 | |||
| Support costs | 127,751 | 17,010 | 144,761 | 64,880 | |||
| 901,229 | 19,697 | 95,249 | (2,232) | 1,013,943 | 842,670 | ||
| Analysis by |
fund | ||||||
| Unrestricted | funds | 819,173 | 95,249 | (2,232) | 912,190 | ||
| Restricted funds | 82,056 | 19,697 | 101,753 | ||||
| 901,229 | 19,697 | 95,249 | (2,232) | 1,013,943 | |||
| For the year | ended 31December 2021 | ||||||
| St Paul's Church |
The Lighthouse |
External & Charitable |
St Paul's Centre |
||||
| Group | Giving | ||||||
| Unrestricted | funds | 556,823 | 62 | 13,497 | 72,741 | 643,123 | |
| Restricted funds | 199,547 | 199,547 | |||||
| 556,823 | 62 | 213,044 | 72,741 | 842,670 |
| St Paul's Church |
External & Charitable |
St Paul's Centre |
One Offs / Events |
Total 2022 |
Total 2021 |
||||
|---|---|---|---|---|---|---|---|---|---|
| Giving | |||||||||
| Central | ITcosts | 35,252 | 4,378 | 39,630 | 39,942 | ||||
| Communications | 4,586 | 4,586 | 3,119 | ||||||
| Finance | costs | 79,395 | 79,395 | 10,975 | |||||
| Servicing of | loans | 12,632 | 12,632 | 10,321 | |||||
| Audit fees | 8,518 | 8,518 | 7,523 | ||||||
| 127,751 | 17,010 | 144,761 | 64,880 | ||||||
| 8. | NET INCOME/EXPENDITURE | FOR THE YEAR | 2022 | 2021 | |||||
| f | f | ||||||||
| This is stated | after charging: | ||||||||
| Depreciation | 42,774 | 40,264 | |||||||
| Auditors' | Remuneration | 8,518 | 7,523 |
| None of | the | Trustees | Trustees | (or | any persons | connected | with them) | received any |
remuneration | or |
|---|---|---|---|---|---|---|---|---|---|---|
| benefits | from | the | PCC | ofSt Paul's Hammersmith | ||||||
| STAFF COSTS | 2022 | 2021 | ||||||||
| f | f | |||||||||
| Wages and Salaries | 331,806 | 245,889 | ||||||||
| Social Security | Costs | 24,371 | 14,132 | |||||||
| Pension Costs | 8,220 | 15,621 | ||||||||
| 364,397 | 275,642 | |||||||||
| The average | monthly | number | of employees | during the | period was: | |||||
| 2022 | 2021 | |||||||||
| St Paul's Centre, | site | and | facilities staff | 2 | 1 | |||||
| Clergy, pastoral | and | ministry | staff | 8 | 6 | |||||
| Operations | staff | 5 | 4 |
| TANGIBLE FIXEDASSE | TS | ||||
|---|---|---|---|---|---|
| AV | |||||
| Building Improvement |
Equipment (The 484 project) |
Plant, Equipment 8 Machinery |
Total 2022 | ||
| E | |||||
| Cost | |||||
| At 1January 2022 | 130,516 | 130,516 | |||
| Additions | 20,214 | 9,004 | 40,766 | 69,984 | |
| Reclassification | |||||
| At 31December 2022 | 20,214 | 9,004 | 171,282 | 200,500 | |
| Depreciation and impairment |
|||||
| At 1January 2022 | 97,098 | 97,098 | |||
| Depreciation charged |
in the year | 5,053 | 2,251 | 35,470 | 42,774 |
| At 31December 2022 | 5,053 | 2,251 | 132,568 | 139,872 | |
| Carrying amount | |||||
| At 31December 2022 | 15,161 | 6,753 | 38,714 | 60,628 | |
| At 31December 2021 | 33,418 | 33,418 |
| CREDITORS: AMOUNTS | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | Notes | 2022 f |
2021 f |
|---|---|---|---|---|---|---|
| Bank loans | 16 | 9,134 | 165,835 | |||
| Other taxation | and social security | 10,334 | 6,628 | |||
| Trade creditors | 26,180 | 12,176 | ||||
| Other creditors | and deferred | income | 34,429 | 109,160 | ||
| Accruals | 44,344 | 21,071 | ||||
| 124,421 | 314,870 | |||||
| CREDITORS: AMOUNTS | FALLING DUE AFTER MORE THAN | Notes | 2022 f |
2021 f |
||
| ONE YEAR | ||||||
| Bank loans | 16 | 124,471 | 268,415 |
| made | up | as follo | ws: | ||||
|---|---|---|---|---|---|---|---|
| Balance at | Resources | Transfers | Revaluations | Balance at 31 | |||
| 1January | expended | gains and losses | December | ||||
| 2022 | 2022 | ||||||
| Permanent | endowments | ||||||
| Land and | buildings | 1,100,000 | 36,082 | 1,136,082 | |||
| 1,100,000 | 36,082 | 1,136,082 | |||||
| ENDOWMENT | FUNDS - COMPARATIVE | ||||||
| Balance at | Resources | Transfers | Revaluations | Balance at 31 | |||
| 1January | expended | gains and losses | December | ||||
| 2021 | 2021 | ||||||
| Permanent | endowments | ||||||
| Land and buildings | 1,050,000 | 50,000 | 1,100,000 | ||||
| 1,050,000 | 50,000 | 1,100,000 |
| ofdon | ations and gra |
nts held on trust |
for specific purp | oses: | |||
|---|---|---|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Transfers | Balance at 31 | |||
| January 2022 | resources | expended | December 2022 | ||||
| Extension | Project | (Stretch 21) | (284,250) | 1,880 | 148,765 | (133,605) | |
| Leadership | College London | 35,000 | (17,500) | 17,500 | |||
| The 484 Fund | 250,000 | (2,685) | 247,315 | ||||
| Specific purposes | / charities | 43,778 | 66,416 | (79,127) | 8,900 | 39,967 | |
| Sounddesk | 5,149 | (2,441) | 2,708 | ||||
| (235,323) | 353,296 | (101,753) | 157,665 | 173,885 | |||
| Balance at 1 | Incoming | Resources | Transfers | Balance at 31 | |||
| January 2021 | resources | expended | December 2021 | ||||
| Extension | Project | (Stretch 21) | (300,085) | 4,870 | 10,965 | (284,250) | |
| Specific purposes | / charities | 79,843 | 161,041 | (197,106) | 43,778 | ||
| Sounddesk | 7,590 | (2,441) | 5,149 | ||||
| (212,652) | 165,911 | (199,547) | 10,965 | (235,323) |
| ANALYSIS OF | NET ASSETS BE | TWEEN FUNDS | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |||
| 2022 | 2022 | 2022 | 2022 | |||
| f | f | f | ||||
| Fund balances at | 31December 2022 are represented | by: | ||||
| Tangible assets | 60,628 | 60,628 | ||||
| Social Investment | Property | 1,136,082 | 1,136,082 | |||
| Current assets/(liabilities) | 2,362 | 298,356 | 300,718 | |||
| Long term liabilities | (124,471) | (124,471) | ||||
| 62,990 | 173,885 | 1,136,082 | 1,372,957 | |||
| Unrestricted | Restricted | Endowment | Total | |||
| 2021 | 2021 | 2021 | 2021 | |||
| f | f | f | f | |||
| Fund balances at | 31December 2021are represented | by: | ||||
| Tangible assets | 33,418 | 33,418 | ||||
| Investment properties |
1,100,000 | 1,100,000 | ||||
| Current assets/(liabilities) |
223,208 | 33,092 | 256,300 | |||
| Long term liabilities | (268,415) | (268,415) | ||||
| 256,626 | (235,323) | 1,100,000 | 1,121,303 |
| 25. | CASH GENERATED FROM OPERATIONS | CASH GENERATED FROM OPERATIONS | 2022 f |
2021 f |
||||
|---|---|---|---|---|---|---|---|---|
| Surplus/(deficit) for the year |
251,654 | 246,249 | ||||||
| Adjustments for: |
||||||||
| Investment income recognised |
in statement | offinancial | activities | (21,033) | (33,302) | |||
| Fair value gains and losses on | investment | properties | (50,000) | |||||
| Depreciation and impairment |
oftangible | fixed assets | 42,774 | 40,264 | ||||
| Movement in working capital: |
||||||||
| (Increase)/decrease in debtors |
308,714 | (348,715) | ||||||
| Increase in creditors |
(33,747) | 58,624 | ||||||
| Cash absorbed by operations |
548,362 | (86,880) | ||||||
| 26. | ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS |
At | 1January 2022 |
Cash flows |
At 31December 2022 |
|||
| f | f | f | ||||||
| Cash at bank and in hand | 200,014 | 162,683 | 362,697 | |||||
| Loans falling due within one year | (165,835) | 156,701 | (9,134) | |||||
| Loans falling due after more than one year | (268,415) | 143,944 | (124,471) | |||||
| Cash absorbed by operations |
(234,236) | 463,328 | 229,092 | |||||
| ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS - COMPARATIVE |
||||||||
| At | 1January | Cash | At 31December | |||||
| 2021 | flows | 2021 | ||||||
| f | f | f | ||||||
| Cash at bank and in hand | 140,966 | 59,048 | 200,014 | |||||
| Loans falling due within one year | (20,984) | (144,851) | (165,835) | |||||
| Loans falling due after more than one year | (279,101) | 10,686 | (268,415) | |||||
| Cash absorbed by operations |
(159,119) | (75,117) | (234,236) |