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|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|
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||||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|
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|||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|
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||||||Notes||2022|||2021||
|---|---|---|---|---|---|---|---|---|---|---|---|
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|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|
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||||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||
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||||||||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|
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|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||
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|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|
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|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|
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|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|
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||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)|
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|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|
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|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)|