REGISTERED CHARITY NUMBER: 1130653
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
Gibbons Mannington & Phipps LLP Chartered Accountants Landgate Chambers 24 Landgate Rye East Sussex TN31 7LJ
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | Page | Page | |
|---|---|---|---|
| Report of the Trustees | 1 | to | 7 |
| Independent Examiner's Report | 8 | ||
| Statement of Financial Activities | 9 | ||
| Balance Sheet | 10 | ||
| Notes to the Financial Statements | 11 | to | 23 |
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Parochial Church Council (PCC) of Christ Church Fulham has the responsibility of co-operating with the Rev James Bailey in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the Church building, Church Hall and a property at 55 Clancarty Road, Fulham SW6 3AH.
The Council see these objectives as being charitable activities for public benefit and confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
Grantmaking
It is PCC policy to give grants to people on mission who have connection with Christ Church. Grants are considered by the mission giving team on the basis of a) whether the individual has a sufficient personal connection with Christ Church Fulham b) how much funding is being supplied to them from elsewhere and c) whether the nature of the project fits in with the vision of Christ Church. The church supported, financially and pastorally, a variety of missionaries in the UK and across the world in nations as diverse as South Africa, Lebanon and Sri Lanka.
The work ranged from running a children's home, drug rehabilitation and reconciliation activity to evangelism via social media.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENT AND PERFORMANCE Charitable activities
The average Sunday morning attendance in 2024 was 79 adults (2023 82)
Whilst some people have left the church for various reasons, 73 new people have joined during 2024.
Video recordings of the sermons continue to be made available online for the benefit of those who do not attend in person, and they are watched by a number of people each week. Several 'Community Groups' meet regularly online or in person.
A new marketing strategy was launched in 2024 incorporating the rebranding of the church logo, marketing material, mission definition, a new website and the proactive use of social media across many platforms.
Working with the community through projects such as 'Play Café', has seen the church connecting with 39 new families locally.
Several Alpha courses have been run during 2024, which has seen a number of adults and young people explore the Christian faith.
In person and online life groups, where people meet to develop relationships and their faith, continue to meet people's basic pastoral needs. Prayer and support have also been available at the end of church services and at other times.
A weekly children's church programme has been run throughout 2024 as well as a weekly youth programme. The appointment of a Children's and Family Pastor in August 2024 has further developed a number of initiatives within the life of the church including the start of Play Café as well as the securing of a grant from the Daisy Trust to develop a SEN room to help with Neuro divergent children.
A young couple were appointed to the role of Worship Pastors in February 2024. This was a development role having had a vacancy in this area for some considerable time. This role, however, was vacated during the summer of 2024 and led to the appointment of a new Worship Director in August 2024.
Easter saw a number of services being held on Good Friday and Easter Sunday along with a successful Spring Fair which saw several hundred people from the local community attend in the vicarage garden.
In October 2024 a new Operations Manager was appointed to fill a vacancy that followed the resignation of the previous Operations Manager in March 2024. A new Administrator was also recruited in November 2024 following the completion of the previous Administrator's contract in September 2024.
As an alternative to Halloween, the church invited the local community to join in a fun 'GLOW' party to celebrate the light of Jesus. Over 1,000 glow sticks were distributed and refreshments provided on a cold evening.
Approximately 95 people, many from the local community and new to Christchurch, came to a 'Create for Christmas' wreath making evening on 4th December, and we believe that this helped to launch a very successful Christmas programme of Carol services and Christmas events in the following weeks.
Christ Church Fulham has a restricted Hardship Fund for assisting members of the congregation in financial difficulties. During 2024 grants were made from this fund totalling £390.
Regular maintenance of the church buildings continued during the year, including external brick work, damp remediation, heating unit repairs, lightning protection service and upgrade, emergency lighting servicing and maintenance, fire alarm and fire extinguisher servicing.
The Robin Montessori nursery business continued to operate on site and the 'Sports Hall' was rented to various music and dance groups for children.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
Christchurch Fulham is part of the The Diocese of London
The Diocese of London is the largest and most diverse in the Church of England. We have over 500 churches and 750 licensed clergy. We are able to have a church in almost every community, supporting the vision for every Londoner to encounter the love of God in Christ. In 2024, 50 new deacons were ordained and early draft statistics indicate that Average Weekly Attendance in London grew by 7.5% to over 60,000.
During 2024, we have continued working towards our priorities of becoming a younger, safer and more racially just Church. For example:
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19 London Youth Apprentices engaged 715 young people weekly and funding was granted to enable the launch of five youth ministers in Hackney and Islington.
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In a challenging year for safeguarding, referrals to the Diocesan Safeguarding Team increased substantially, indicating more trust and confidence in the safeguarding service. 789 people were given safeguarding leadership training, and 3,808 DBS checks were carried out.
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Churches across the Diocese engaged with Race Equality Week, Racial Justice Sunday, and Black History Month last year, reflecting on racial justice and committing to action.
The breadth of parishes and Bishop's Mission Orders in London nurtured confident disciples, compassionate communities and creative growth in an amazing variety of ways. They also contributed over £23m in Common Fund, an increase of almost £1m. Alongside £13.2m income raised by the London Diocesan Fund (LDF) and £3.6m from LDF reserves, this paid to provide ministry and support parishes across the Diocese.
FINANCIAL REVIEW
Financial position
The PCC have monitored the budget closely during 2024, keeping costs as low as possible. By God's grace and very generous giving we received income of £376,066 (2023: £371,076).
Expenditure (including restricted) totalled £426,659 (2023: £418,604).
The church recorded a deficit for the year ended 31 December 2024 totalling £50,593 (2023: deficit £47,528).
Reserves policy
The charity policy is to maintain a level of reserves which will provide a stable base for its continuing activities and most particularly staff salaries. The church's income is primarily voluntary donations from its church membership, and the Council puts a high value on deploying that income directly into the mission work and mission giving of the church. As a result, in recent years there has been no surplus to build up reserves. If it needed to, the church could approach the membership for additional giving and can also seek advice and support from the central Church of England structure, which operates a 'Common Fund' in support of less financially robust parishes. However, the council aspires to build up undesignated free reserves over the forthcoming year.
As at 31 December 2024, Christ Church had unrestricted assets of £2,191,933 (2023: £2,239,553) this includes designated funds. The unrestricted assets include the Church Hall and 55 Clancarty Road.
At 31 December 2024, cash at bank and in hand was £37,435 (2023: £47,470) comprising £1,890 (Hardship fund), £2,767 (grant from Hammersmith & Fulham Council for community activities) and £2,150 (grant from the Daisy Trust for equipping a SEN room) in restricted funds and £30,628 in unrestricted funds.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW Going concern Financial uncertainties regarding the charity's financial sustainability and consideration of going concern.
Overall income in 2024 was £376,066
Voluntary giving to the church has continued to be very generous, totalling £257,101 including Gift Aid claimed. Gift Days were held in April and November 2024 yielding donations of over £16,000 (plus Gift Aid on most of this). The remaining donations were mainly by regular standing order and credit card, including donations via the website and via tap and go stations.
Income from the Robin Montessori Nursery and hall hirers grew from £77,940 in 2023 to £84,271 in 2024 an increase of 8%.
Accordingly, the Council believe that Christ Church Fulham continues to be in a position to operate as a going concern.
Steps being taken to address any financial uncertainties
CCF maintains a consistent prioritisation process for expenditure to ensure the balance of income and expenditure: salaries, buildings, utilities and commitments to the Diocesan Common Fund.
Staffing hours were lean during 2024, with a number of vacancies held in abeyance for several months which reduced the overall staff costs. The success of a full year of outsourcing of the bookkeeping services as well as the use of a marketing consultant has also reduced costs.
The hourly rate for hire of the Sports Hall was increased in January 2024, and more hirers continue to be sought to make full use of the available time slots. The Council are also looking for suitable opportunities to raise income by hiring out other rooms in the building.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is governed by the Parochial Church Councils (Powers) Measure 1956 as amended and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended).
Staff remuneration
The Council reviews the staff salaries on an annual basis and for individual roles when there is a change in staff. Annual staff adjustments are made by evaluating the economic climate and what is happening within the employment market as a whole. When setting salaries for individual roles, the Council does a comparison with similar jobs within London area both within the secular and charity market.
As at 31 December 2024, five staff were employed by the Council: Worship Director, Children's and Families Pastor, Operations Manager, Administrator, Site Manager, in addition to the Vicar who is remunerated by the Diocese.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management
The Council have examined the major strategic, business, and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. The risk assessment is reviewed on an annual basis.
The primary areas of risk assessment are:
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Governance - Failure of good governance, including a lack of clear vision and strategy, would impede the church's capacity to fulfil its mission to the local community as well as to church members. The potential impact on membership numbers because of such a failure, could then directly affect voluntary donations and the overall income stream of the church. Observing Church of England governance and robust collaborative leadership within the church itself will contribute to mitigating this risk.
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Finance - the primary source of income is from voluntary giving from the congregation. This is aided by regular teaching on giving, Gift Aid and other tax efficient giving, and communication to keep members aware of the financial state of their church and any needs arising. Members of the congregation are effectively stakeholders who directly benefit from any donations made so communication is key, and every effort is made to ensure transparency with the members. The Church of England provides a robust administrative structure to support if necessary.
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Safeguarding - the impact of a failure in safeguarding would be hugely detrimental to the individuals involved as well as to the reputation of the church community as a whole. Robust processes and training of staff and volunteers are in place to prevent such an event. Reviews of safeguarding processes and controls now take place on a regular basis; these are overseen by two designated Safeguarding Officers along with administrative support. Expert advice is also sought from the diocese safeguarding team
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Health and Safety and Buildings - Good H&S policies and procedures, combined with good care and maintenance routines reduce risk of damage to personnel and property.
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The Council is well aware of the continued growth in energy prices. Terms for three new contracts from April-June 2023 were agreed at the best rates we could get, and we obtained a good rate for the fourth contract from Jan 2024 via Parish Buying. Over the next year we plan to transfer the other contracts to Parish Buying to obtain their lower rates on them too. Steps are taken to minimise use of energy as far as possible in an old building, particularly with regard to heating.
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The interest rate on the loan from the Diocese of London has risen from 2.1% (base rate + 2%) when draw down of the loan commenced in July 2021 to 6.5% as at March 2025. In July 2024 the Diocese agreed to a £1500 reduction (approx) in our quarterly repayments which is continuing into 2025. The Council have budgeted for the agreed loan repayments in 2025.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Structure
The PCC operates primarily through the Standing Committee, which meets in addition to the meetings of the PCC and covers Finances, Property, Safeguarding and HR. The Standing Committee then reports to the PCC. The PCC's Standing Committee, which is required by law, has the power to transact the business of the PCC between its meetings, subject to any directions given by the Council. It comprises of a minimum of the Incumbent, Churchwardens and Treasurer.
Members of the Parochial Church Council are elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.
The Council who served during the year and up to the date of signature of the financial statements were:
| Rev James Bailey | |
|---|---|
| Anna Beyer | (Resigned April 2024) |
| John Griffiths | |
| Ann-Marie Idiagbonya | (Resigned April 2024) |
| Gareth Jones | (Resigned December 2024) |
| Clive Mills | |
| Alice Parsons | |
| Sally Tantot | |
| Richard Tootill | |
| Nathan Watt | (Resigned August 2024) |
| Anita Milne | (Appointed April 2024) |
| Gregory Bean | (Appointed April 2024) |
| Richard Read | (Appointed April 2024) |
| Kate O'Sullivan | (Appointed April 2024) |
| Oyinnoyi Onozuto | (Appointed April 2024) |
| Abigail Hunter | (Appointed April 2024) |
| Katrin Sterland | (Appointed April 2024) |
As with past years Christ Church, as an established Anglican parish church, will continue to undertake its responsibilities to the local community in that capacity. Christ Church's overall ministry is about actively seeking to extend the Kingdom of God, both in the lives of members of the congregation and in those with whom we come into contact. Ministry priorities are set by the incumbent, consulting members of the Council and others as appropriate.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1130653
Principal address
Christchurch 67 Studdridge Street London SW6 3TD
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
| Trustees | ||
|---|---|---|
| Chair | The Rev James Bailey | |
| Churchwardens | Anita Milne | (Appointed April 2024) |
| Nathan Watt | (Resigned August 2024) | |
| Council Members | Anna Beyer | (Resigned April 2024) |
| John Griffiths | ||
| Ann-Marie Idiagbonya | (Resigned April 2024) | |
| Gareth Jones | (Resigned December 2024) | |
| Clive Mills | ||
| Alice Parsons | ||
| Sally Tantot | ||
| Richard Tootill | ||
| Nathan Watt | (Resigned August 2024) | |
| Anita Milne | (Appointed April 2024) | |
| Gregory Bean | (Appointed April 2024) | |
| Richard Read | (Appointed April 2024) | |
| Kate O'Sullivan | (Appointed April 2024) | |
| Oyinnoyi Onozuto | (Appointed April 2024) | |
| Abigail Hunter | (Appointed April 2024) | |
| Katrin Sterland | (Appointed April 2024) | |
| Treasurer | Richard Tootill | |
| Independent Examiner | ||
| Mr Joseph Greenslade FCCA | ||
| Gibbons Mannington & Phipps LLP | ||
| Chartered Accountants | ||
| Landgate Chambers | ||
| 24 Landgate | ||
| Rye | ||
| East Sussex | ||
| TN31 7LJ |
Bankers
National Westminster Bank Plc 45 Fulham Broadway London SW6 1AG
Approved by order of the board of trustees on 28 April 2025 and signed on its behalf by:
Rev J Bailey - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
Independent examiner's report to the trustees of The Parochial Church Council of the Ecclesiastical Parish of Christ Church Fulham
I report to the charity trustees on my examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of Christ Church Fulham (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Joseph Greenslade FCCA
Gibbons Mannington & Phipps LLP Chartered Accountants Landgate Chambers 24 Landgate Rye East Sussex TN31 7LJ
7 May 2025
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Other trading activities 4 Investment income 5 Total EXPENDITURE ON Raising funds 6 Charitable activities 7 Charitable activities Total NET INCOME/(EXPENDITURE) Transfers between funds 19 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 261,401 105,362 403 367,166 7,517 409,769 417,286 (50,120) 2,500 (47,620) 2,239,553 2,191,933 |
2024 Restricted Total funds funds £ £ 8,900 270,301 - 105,362 - 403 8,900 376,066 - 7,517 9,373 419,142 9,373 426,659 (473) (50,593) (2,500) - (2,973) (50,593) 9,780 2,249,333 6,807 2,198,740 |
2023 Total funds £ 270,103 100,528 445 371,076 8,986 409,618 418,604 (47,528) - (47,528) 2,296,861 2,249,333 |
|---|---|---|---|
The notes form part of these financial statements
Page 9
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
BALANCE SHEET 31 DECEMBER 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 14 | 2,240,752 | - | 2,240,752 | 2,297,859 | |
| CURRENT ASSETS | ||||||
| Debtors | 15 | 3,369 | - | 3,369 | 2,715 | |
| Prepayments and accrued income | 13,392 | - | 13,392 | 12,971 | ||
| Cash at bank and in hand | 30,628 | 6,807 | 37,435 | 47,470 | ||
| 47,389 | 6,807 | 54,196 | 63,156 | |||
| CREDITORS | ||||||
| Amounts falling due within one year | 16 | (47,730) | - | (47,730) | (48,735) | |
| NET CURRENT ASSETS | (341) | 6,807 | 6,466 | 14,421 | ||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 2,240,411 | 6,807 | 2,247,218 | 2,312,280 | ||
| CREDITORS | ||||||
| Amounts falling due after more than one | ||||||
| year | 17 | (48,478) | - | (48,478) | (62,947) | |
| NET ASSETS | 2,191,933 | 6,807 | 2,198,740 | 2,249,333 | ||
| FUNDS | 19 | |||||
| Unrestricted funds | 2,191,933 | 2,239,553 | ||||
| Restricted funds | 6,807 | 9,780 | ||||
| TOTAL FUNDS | 2,198,740 | 2,249,333 |
The financial statements were approved by the Board of Trustees and authorised for issue on 28 April 2025 and were signed on its behalf by:
J Bailey - Trustee
The notes form part of these financial statements
Page 10
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. STATUTORY INFORMATION
The Parochial Church Council of Christ Church Fulham is a an unincorporated charity, registered in England & Wales. The charity's registered number and registered office address can be found in the Report of the Trustees.
2. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the charity’s accounting policies, the Council are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that those conditions will be fulfilled in the reporting period. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on a case-by-case basis following the granting of probate when the administrator / executor for the estate has communicated to the charity in writing both the amount and settlement date. If the amount is not known, the legacy is treated as a contingent asset.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
continued...
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
2. ACCOUNTING POLICIES - continued
EXPENDITURE
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charity.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.
Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs.
Governance costs and support costs relating to charitable activities have been apportioned based on the number of individual grant awards made in recognition that the administrative costs of awarding, monitoring, and assessing research grants, salary support grants and postgraduate scholarships are broadly equivalent. The allocation of support and governance costs is analysed in note 9.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Improvements to property - 10% on cost Fixtures and fittings - 25% on cost Computer equipment - 25% on cost
Property, plant and equipment other than freehold land are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Assets costing £500 or more are capitalised.
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Impairment of non-current assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
continued...
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
2. ACCOUNTING POLICIES - continued
TAXATION
The charity is exempt from tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
GOING CONCERN
The Trustees have considered the future cash flows and they consider it appropriate to prepare the financial statements on a going concern basis.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
FINANCIAL INSTRUMENTS
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
BASIC FINANCIAL ASSETS
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
BASIC FINANCIAL LIABILITIES
Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
EMPLOYEE BENEFITS
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
continued...
Page 13
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
2. ACCOUNTING POLICIES - continued
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
CONSECRATED LAND AND BUILDINGS
Consecrated and beneficial property is excluded from the accounts by s.10 (27a and c) of the Charities Act 2011.
3. DONATIONS AND LEGACIES
| 3. | DONATIONS AND LEGACIES | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Individual giving | 195,470 | 207,230 | |
| Other donations | 9,428 | 7,392 | |
| Gift aid | 52,203 | 47,840 | |
| Grants | 13,200 | 7,641 | |
| 270,301 | 270,103 | ||
| Grants received, included in the above, are as follows: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Church Revitalisation Trust | - | 5,000 | |
| Other grants | 13,200 | 2,641 | |
| 13,200 | 7,641 | ||
| 4. | OTHER TRADING ACTIVITIES | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Events and conferences | 55 | 168 | |
| Nursery income | 57,733 | 54,465 | |
| Rent received | 10,000 | 19,600 | |
| Church Hall and other lettings | 26,538 | 23,475 | |
| Other income | 11,036 | 2,820 | |
| 105,362 | 100,528 | ||
| 5. | INVESTMENT INCOME | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Deposit account interest | 403 | 445 |
continued...
Page 14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
6. RAISING FUNDS
| RAISING DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Staff costs | 4,702 | 6,958 | ||
| Support costs | 2,815 | 2,028 | ||
| 7,517 | 8,986 | |||
| 7. | CHARITABLE ACTIVITIES COSTS | |||
| Direct | Support | |||
| Costs (see | costs (see | |||
| note 8) | note 9) | Totals | ||
| £ | £ | £ | ||
| Charitable activities | 357,168 | 61,974 | 419,142 | |
| 8. | DIRECT COSTS OF CHARITABLE ACTIVITIES | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Staff costs | 89,338 | 132,207 | ||
| Overseas Mission Giving | 13,904 | 2,555 | ||
| Ministry: Diocesan quota | 59,270 | 57,266 | ||
| Ministry: Other costs | 22,798 | 20,044 | ||
| Church maintenance | 39,240 | 22,723 | ||
| Other property costs | 12,276 | 22,519 | ||
| Church - Running expenses | 40,414 | 33,370 | ||
| Depreciation | 72,925 | 70,568 | ||
| Interest payable and similar charges | 7,003 | 7,181 | ||
| Exceptional items | - | (3,142) | ||
| 357,168 | 365,291 |
The above exceptional item relates to unexplained items identified during the change in bookkeeper during the previous accounting period. This exceptional item is not material and ensured that the balance sheet was correct at the end of the previous accounting period and going forward.
9. SUPPORT COSTS
| Governance Management costs £ £ Raising donations and legacies 2,815 - Charitable activities 53,474 8,500 56,289 8,500 |
Totals £ 2,815 61,974 |
|---|---|
| 64,789 |
continued...
Page 15
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
9. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
| Raising donations and Charitable legacies activities £ £ Insurance 437 8,308 Telephone and internet 92 1,755 Postage, stationery and advertising 687 13,043 Sundries 150 2,841 Computer expenses 509 9,678 Staff welfare 560 10,639 Bookkeeping 380 7,210 Auditors' remuneration - - Independent examiners' remuneration - 4,200 Legal fees - 4,300 2,815 61,974 AUDITORS' / INDEPENDENT EXAMINERS' REMUNERATION |
Raising donations and Charitable legacies activities £ £ Insurance 437 8,308 Telephone and internet 92 1,755 Postage, stationery and advertising 687 13,043 Sundries 150 2,841 Computer expenses 509 9,678 Staff welfare 560 10,639 Bookkeeping 380 7,210 Auditors' remuneration - - Independent examiners' remuneration - 4,200 Legal fees - 4,300 2,815 61,974 AUDITORS' / INDEPENDENT EXAMINERS' REMUNERATION |
2024 Total activities £ 8,745 1,847 13,730 2,991 10,187 11,199 7,590 - 4,200 4,300 64,789 |
2023 Total activities £ 7,264 2,440 7,145 2,716 9,758 7,491 3,781 1,560 4,200 - 46,355 |
|
|---|---|---|---|---|
| 31.12.24 | 31.12.23 | |||
| £ | £ | |||
| Fees payable to the charity's auditor for the prior year audit of the charity's financial statements |
- | 1,560 | ||
| Fees payable to the charity's independent examiners for the independent examination of the charity's financial statements |
4,200 | 4,200 | ||
| 4,200 | 5,760 | |||
10. AUDITORS' / INDEPENDENT EXAMINERS' REMUNERATION
11. TRUSTEES' REMUNERATION AND BENEFITS
During the year, Rachel Bailey; wife of Vicar and trustee; James Bailey, received remuneration of £1,491 for employment in January as Children and Families Pastor.
TRUSTEES' EXPENSES
During the year, the Vicar, James Bailey and his wife benefited from £6,477 paid by the PCC for clearing and maintaining the vicarage garden (which also benefitted the church), and £1,228 paid by the PCC for childcare for their children during church services.
Included within income are donations received from the members of the PCC totalling £76,396 (2023: £66,433), excluding small cash offerings which are unable to be determined.
continued...
Page 16
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 12. STAFF COSTS 2024 £ Wages and salaries 88,288 Social security costs 1,455 Other pension costs 4,297 94,040 The average monthly number of employees during the year was as follows: 2024 Charitable activities 4 No employees received emoluments in excess of £60,000. Remuneration of key management personnel The remuneration of key management personnel is as follows. 2024 £ Aggregate remuneration 20,871 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 265,103 5,000 Other trading activities 100,528 - Investment income 445 - Total 366,076 5,000 EXPENDITURE ON Raising funds 8,986 - Charitable activities Charitable activities 408,643 975 Total 417,629 975 NET INCOME/(EXPENDITURE) (51,553) 4,025 RECONCILIATION OF FUNDS Total funds brought forward 2,291,106 5,755 TOTAL FUNDS CARRIED FORWARD 2,239,553 9,780 |
12. STAFF COSTS 2024 £ Wages and salaries 88,288 Social security costs 1,455 Other pension costs 4,297 94,040 The average monthly number of employees during the year was as follows: 2024 Charitable activities 4 No employees received emoluments in excess of £60,000. Remuneration of key management personnel The remuneration of key management personnel is as follows. 2024 £ Aggregate remuneration 20,871 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 265,103 5,000 Other trading activities 100,528 - Investment income 445 - Total 366,076 5,000 EXPENDITURE ON Raising funds 8,986 - Charitable activities Charitable activities 408,643 975 Total 417,629 975 NET INCOME/(EXPENDITURE) (51,553) 4,025 RECONCILIATION OF FUNDS Total funds brought forward 2,291,106 5,755 TOTAL FUNDS CARRIED FORWARD 2,239,553 9,780 |
12. STAFF COSTS 2024 £ Wages and salaries 88,288 Social security costs 1,455 Other pension costs 4,297 94,040 The average monthly number of employees during the year was as follows: 2024 Charitable activities 4 No employees received emoluments in excess of £60,000. Remuneration of key management personnel The remuneration of key management personnel is as follows. 2024 £ Aggregate remuneration 20,871 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 265,103 5,000 Other trading activities 100,528 - Investment income 445 - Total 366,076 5,000 EXPENDITURE ON Raising funds 8,986 - Charitable activities Charitable activities 408,643 975 Total 417,629 975 NET INCOME/(EXPENDITURE) (51,553) 4,025 RECONCILIATION OF FUNDS Total funds brought forward 2,291,106 5,755 TOTAL FUNDS CARRIED FORWARD 2,239,553 9,780 |
12. STAFF COSTS 2024 £ Wages and salaries 88,288 Social security costs 1,455 Other pension costs 4,297 94,040 The average monthly number of employees during the year was as follows: 2024 Charitable activities 4 No employees received emoluments in excess of £60,000. Remuneration of key management personnel The remuneration of key management personnel is as follows. 2024 £ Aggregate remuneration 20,871 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 265,103 5,000 Other trading activities 100,528 - Investment income 445 - Total 366,076 5,000 EXPENDITURE ON Raising funds 8,986 - Charitable activities Charitable activities 408,643 975 Total 417,629 975 NET INCOME/(EXPENDITURE) (51,553) 4,025 RECONCILIATION OF FUNDS Total funds brought forward 2,291,106 5,755 TOTAL FUNDS CARRIED FORWARD 2,239,553 9,780 |
2023 £ 126,381 6,597 6,187 139,165 2023 5 2023 £ 46,050 Total funds £ 270,103 100,528 445 371,076 8,986 409,618 418,604 (47,528) 2,296,861 2,249,333 |
|
|---|---|---|---|---|---|
| 2024 | |||||
| £ | |||||
| 20,871 | |||||
| Restricted funds £ 5,000 - - 5,000 - 975 975 4,025 5,755 9,780 |
|||||
continued...
Page 17
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
14. TANGIBLE FIXED ASSETS
| COST At 1 January 2024 Additions Disposals At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year Eliminated on disposal At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
Freehold property £ 3,116,164 - - 3,116,164 851,901 60,509 - 912,410 2,203,754 2,264,263 |
Improvements Fixtures to and property fittings £ £ 48,326 14,826 7,402 - - - 55,728 14,826 20,459 14,826 5,572 - - - 26,031 14,826 29,697 - 27,867 - |
Computer equipment £ 65,404 8,416 (9,228) 64,592 59,675 6,844 (9,228) 57,291 7,301 5,729 |
Totals £ 3,244,720 15,818 (9,228) 3,251,310 946,861 72,925 (9,228) 1,010,558 2,240,752 2,297,859 |
|---|---|---|---|---|
The freehold land and buildings comprise of 55 Clancarty Road, London, SW6 3AH and the Church Hall.
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 18) Trade creditors Other creditors Accrued expenses |
2024 £ 2,346 1,023 3,369 2024 £ 18,000 11,196 11,305 7,229 47,730 |
2023 £ 2,715 - 2,715 2023 £ 18,600 9,747 12,783 7,605 |
2023 £ 2,715 - |
|---|---|---|---|
| 2,715 | |||
| 48,735 |
continued...
Page 18
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 17. | CREDITORS: AMOUNTS FALLING | DUE AFTER MORE | DUE AFTER MORE | THAN ONE YEAR | THAN ONE YEAR | ||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | ||||||
| £ | £ | ||||||
| Other loans (see note 18) | 48,478 | 62,947 | |||||
| 18. | LOANS | ||||||
| An analysis of the maturity of loans is given below: | |||||||
| 2024 | 2023 | ||||||
| £ | £ | ||||||
| Amounts falling due within one year | on demand: | ||||||
| Other loans | 18,000 | 18,600 | |||||
| Amounts falling between one and two years: | |||||||
| Other loans - 1-2 years | 18,000 | 18,600 | |||||
| Amounts falling due between two and five years: | |||||||
| Other loans - 2-5 years | 30,478 | 44,347 | |||||
| As at 31 December 2024, the charity owed an amount of £66,478 to | the Diocese of London. | ||||||
| Interest at the rate of 2% per annum over the Bank | of England base rate is payable | on the loan. | |||||
| 19. | MOVEMENT IN FUNDS | ||||||
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1/1/24 | in funds | funds | 31/12/24 | ||||
| £ | £ | £ | £ | ||||
| Unrestricted funds | |||||||
| General fund | (6,820) | 9,830 | 2,500 | 5,510 | |||
| Designated Fund: 55 Clancarty Road 825,418 |
(23,900) | - | 801,518 | ||||
| Designated Fund: Church Hall | 1,420,955 | (36,050) | - | 1,384,905 | |||
| 2,239,553 | (50,120) | 2,500 | 2,191,933 | ||||
| Restricted funds | |||||||
| Hardship | 4,780 | (390) | (2,500) | 1,890 | |||
| Church Revitalisation Trust | 5,000 | (5,000) | - | - | |||
| Hammersmith & Fulham Council | - | 2,767 | - | 2,767 | |||
| Daisy Trust | - | 2,150 | - | 2,150 | |||
| 9,780 | (473) | (2,500) | 6,807 | ||||
| TOTAL FUNDS | 2,249,333 | (50,593) | - | 2,198,740 |
continued...
Page 19
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
19. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated Fund: 55 Clancarty Road Designated Fund: Church Hall Restricted funds Hardship Church Revitalisation Trust Hammersmith & Fulham Council Daisy Trust Benefact Trust TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Designated Fund: 55 Clancarty Road Designated Fund: Church Hall Restricted funds Hardship Church Revitalisation Trust TOTAL FUNDS |
Incoming resources £ 367,166 - - 367,166 - - 5,000 2,150 1,750 8,900 376,066 At 1/1/23 £ (15,217) 849,318 1,457,005 2,291,106 5,755 - 5,755 2,296,861 |
Resources expended £ (357,336) (23,900) (36,050) (417,286) (390) (5,000) (2,233) - (1,750) (9,373) (426,659) Net movement in funds £ 8,397 (23,900) (36,050) (51,553) (975) 5,000 4,025 (47,528) |
Movement in funds £ 9,830 (23,900) (36,050) (50,120) (390) (5,000) 2,767 2,150 - (473) (50,593) At 31/12/23 £ (6,820) 825,418 1,420,955 2,239,553 4,780 5,000 9,780 2,249,333 |
|||
|---|---|---|---|---|---|---|
continued...
Page 20
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
19. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 366,076 | (357,679) | 8,397 | ||
| Designated Fund: 55 Clancarty Road | - | (23,900) | (23,900) | ||
| Designated Fund: Church Hall | - | (36,050) | (36,050) | ||
| 366,076 | (417,629) | (51,553) | |||
| Restricted funds | |||||
| Hardship | - | (975) | (975) | ||
| Church Revitalisation Trust | 5,000 | - | 5,000 | ||
| 5,000 | (975) | 4,025 | |||
| TOTAL FUNDS | 371,076 | (418,604) | (47,528) | ||
| A current year 12 months and prior year | 12 months | combined position is as follows: | |||
| Net | Transfers | ||||
| movement | between | At | |||
| At 1/1/23 | in funds | funds | 31/12/24 | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General fund | (15,217) | 18,227 | 2,500 | 5,510 | |
| Designated Fund: 55 Clancarty Road | 849,318 | (47,800) | - | 801,518 | |
| Designated Fund: Church Hall | 1,457,005 | (72,100) | - | 1,384,905 | |
| 2,291,106 | (101,673) | 2,500 | 2,191,933 | ||
| Restricted funds | |||||
| Hardship | 5,755 | (1,365) | (2,500) | 1,890 | |
| Hammersmith & Fulham Council | - | 2,767 | - | 2,767 | |
| Daisy Trust | - | 2,150 | - | 2,150 | |
| 5,755 | 3,552 | (2,500) | 6,807 | ||
| TOTAL FUNDS | 2,296,861 | (98,121) | - | 2,198,740 |
continued...
Page 21
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
19. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated Fund: 55 Clancarty Road Designated Fund: Church Hall Restricted funds Hardship Church Revitalisation Trust Hammersmith & Fulham Council Daisy Trust Benefact Trust TOTAL FUNDS |
Incoming resources £ 733,242 - - 733,242 - 5,000 5,000 2,150 1,750 13,900 747,142 |
Resources expended £ (715,015) (47,800) (72,100) (834,915) (1,365) (5,000) (2,233) - (1,750) (10,348) (845,263) |
Movement in funds £ 18,227 (47,800) (72,100) (101,673) (1,365) - 2,767 2,150 - 3,552 (98,121) |
|---|---|---|---|
Designated Funds:
55 Clancarty Road - This represents the property at 55 Clancarty Road, London, SW6 3AH.
Church Hall - This represents the initial cost of the building and subsequent capital refurbishment costs incurred to date.
Restricted Funds:
Hardship - This fund is generated by fundraising appeals for specific future projects. The Hardship fund was set up in 2020 to meet the need of the congregation impacted by the pandemic.
Church Revitalisation Trust - This restricted funding relates to a grant received for any costs relating to the setup of the church plant or operational costs.
Hammersmith & Fulham Council - This restricted grant was received for community activities.
Daisy Trust - This restricted funding has been received in relation to equipping a SEN room.
Benefact Trust - This restricted grant funding has contributed to the upgrading of the fire system.
TRANSFERS BETWEEN FUNDS
The transfer between the Hardship fund and the general fund has been made as the original donor requested that it be part of the Hardship fund but also for any other use the PCC see fit.
continued...
Page 22
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH FULHAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
20. RELATED PARTY DISCLOSURES
Transactions with related parties are included in note 11.
Page 23