PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE-FIELDS Diocese of London Charity Registration no. l 130800 Annual Report & Accounts 31 December 2023
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THEIELDS Report and Financial Statements 2023 Contents P• Le8411d &dTrwnigtratlv Infom*tlon Report of the Paro¢hl•l Chyr¢h Counol Ind¢pdent Eyamln•r's r•port to the Parochial Church Counal 10 Statèment of finan¢lal actlb4tl•s B4lanc• sheet 12 Not¢s ¢0 th• fin•nclal statements 13
PAROCHIALCHURCH COUNCIL OF ST GILES-IN-THE-FIELDS Legal and Administrative Inforniation For the year ended 31 December 2023 Charity Name rochial Churth Cwncll Of St Glle$4n-The-R¢lds Prtncipal Addreis St Glies4n4heCld 60 St Giles High London WCIH 8LG Charlty Re%aOn 1130800. The PCC was re¥istend V•ith the Charity Cornmission In 2009. Governlni Docum•nt Parochlal Church Gwn¢il P3V•WS MÈasur¢ {1956) am•nd•d and Churth R•prutatiOn RuleL Obl•cdY•i Parochlal Church C¢uncll of S¢ Giles in the Field5 hasthe respMsSbility of cooperan8 the Incumbent ol St Gtle5. In promotin& In the Kclesllsdcal p•rish the vhole mission of the church. pistcrdl. trrtngelistic, tIll and •cumenical. M•mb•n of th• PCC PCC rnpJnbers vkno 5er¥ed durlng 2023 or were ser4lni 1¢ th• daw this report wai approved Cleryy Th• R•vd T Sandw (Rtttor The Revd C Smilini {knlsrant Prfesr) The Rd P Da¢1 (Asslstant Curate) {from l fvly 2023) Wardens Ms C Campbdl MrORory Dthn•ry Synod Rq>r•nodve Mr J Ken Toh EIKt¢d men*¢rs Mr H Amos Mr W Grundy Mr O less Ms L maCdclId Drwhm Mr T Dow5• MrACap Key M4n4emtffit Per50nn Thosè In chary• of plannlni, d1rntl. comtrollln& runnlng and op0rdft8 the Chirlty, intludirtg thos• membtts of sraff vtho are the sl0r manaK•ment pwwnnel to whom the tyustw have delegated slgniflcant authorfty or respon$ibi15ty in the daY-daY runn& of the Charity. are the Mther% af the PCC 3ert Th• Cw•niTrt &nk pk PO Box 250 Delf House $thWay. Skeknwsdale WN8 6V4T Independent Exarninqr R Billinghur5t FCA Knox Cropper LLP Chartered Accountants 65 Leadenhall Street Lwdon EC3A 2AD Architect Sar4h Khan RIBA CA MArch Urch Roger Mear5 Arthrotts LLP 2 Compron Teryace L(d0 Nl 2UN
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THEIELDS Legal and Administrative Informatlon For the year ended 31 December 2023 Solicltors Win¢kth Sherwood Minerva Se 5 Pkntsgu aose SEI 988 Invétm•nt Mna8tv Inwesttc Wealth & Management LmitJ 2 Gresham Stre¢¢ London EC2V
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THEIELDS Report of the Parochial Church Council For the year ended 31 December 2023 The Pamchlal Thurch cn(lI cl St Giles in the fieldi ('PCC'I iubmits iu report and the financlal statemthts for the year ended 31 De¢ewrer 2023. The finan¢ki1 $tarWnrs have been prepared in the formt pre5tribed by the Statem¢ of RecoMmed Pr4¢tsc¢ Ac¢¢)unong and Reporting by aritIeS (SORP2015 (FRSI 02)). The legal ind administratiye information set ¢Xt earller In thls document fornis part of this ryorL Trustees Appointrn¢ht Ind Trin•thg The Trust¢¢s of the Charlty are mnbers of the Parochial Church Cwncll ffCCI of SL Gll&-In-the-Fields and are either ex-¢fficio or elecred. The Recrar is ex¢). the Churehwardens are elected annually atthe Annual Parish Meeting and are ex<fficlo members of the PCC. A Deanery Synod rnomber is dected •¥sYy three years a¢ the Annual Par¢xhl Church Meeting IAPCMI and is an ex)fficio rneThber of tht PCC for that perriod. The remaining mèmbery d the PCC are de£ted annually atthe APCM. The PCC also has the power to ¢w¢ one memb¥. New membtrs are irtducted ty the Rector and tho Pan>chk41 Church Council. M4n4g•m•nt Arrang•nts The Parochlal Church Gwn¢il met six occasions in the year ¢0 315t Decvjnber 2023. The PCC prlmarity discuxMd financlal affalrs miMl¢n amoni the local c¢ynmunity, wayi of building up the der fd10hIP of th• Church, and engagement with sttkehdden in the lotal public rlm. Oeuils of thest dis¢ussiMs are included under'Acdvlde5 in the of th• y•ar' below. Th• PCC'S Standing Gvnmlttee met gix timu in the y•ar ro general ChUh matt•rn, advise th• PCC wth¢r¢ ne¢¢ssary. Ind ¢na¢t d¥1$15 as dd4ared by the PCC. RSik Manaiement The Trustee5 ctin to th¢ mzjor riskn to Yhthich th• Chary is expos•d. pjniculirty those rdawl to the optrttton$ and financts ol the Charity. A sk assessment polly ¢ovthng Christian misslon. leadership, communicadon5 with the wider corrffiunlty, propery 5ecurlty and fire deteciion, site security. property malntenanc< compliance with tharfty and ornployrrnnt law and financial controls and mana8i¥n•it vrds re4fieWrtd durin8 the year. A dlsasrer recov plan. to bè fiAlo%d in the event ef i major dlsasw and out to b¢ rupect to key pertonnel ind speclfic tasks was ilso re4ivKd. l A¢dvld•• & Str•tsfv¥ The aim5 of the PCC ar• to r>rk 1th th• Rector in prom1Th£ tho Parith ofSf4ilttn4htrFidds and th• wthole mtssl th• Church. paswral. •Yan8•listic. soclal and ecum11. object1v of th• Charlty and Its Publlc n¢fit The Church of St-Giles-in-the Fieldj remains a central point cl tworship and Christian tnesS In the he•rc Of Weir End ol London. 1¢ pmvides regular public worship opth w all. th• pru<ision of i dltated ipac¢ for personal prdyr and r¢ftecuon, pastorydl SUPPWL ro Mer$ al the congregation and the crxnmuniy, teaching of the Chri51ian faSth through preachlng. the prOMOn crf the Chrbsdan tsith through hosting rnu5ical and theatrical ents. a meeting space for a varfety of paKoral group4 sUPPOrt for kJ¢al and naoonal Chariiiw. Ind the MaintanCe of two Ils¢¢d build ings (the Church itsdf. grade l) and th• Vestry House (gr4de111. The Trusw •re mindfvl of the rul¢s of the Charldes Act 2011 and the guidance issued by the Charity Cornmi5%ipn vith rE¥ard to P4th1ic bentfit and acts in a¢cordanc• thls guldanc To thbs end the PCC organises the folloY4ing aciiviiiel in onler to enable ordinary poJpl• to Ilve out thdr <h as par¢ of our parish community. Sunday s¢Thl¢es Weekday services Fdl¢)wshlp groups Weddy comrmnity groups
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE-FIELDS Report of the Parochial Church Councll For the year ended 31 December 2023 3. R•vl•w of th• Y•v Activities in the Course of the Yur St Giles ha$ enjoyed a good yur and there have been a number of si1ficantents that have served to remiThd u5 of the call of the Ilvlng God 0 Is alvAys worn& His Purpose out in the midst of hi5 peopl& We begin how•vtr, brf acknoYAedging the sad pa5sin8 of Mr Andrew Cap. PCC Secretary. Slnce moving Eo Ldon Andrew had become a key part ol the worshipping communiw. He recwved hi$ (fiMO0n from The &5hop of L0ndC in December of 20218nd passed avrdy on the 26th july 2023. The funeral VAS hdd at SL Giles and it is expect that his ashes wll be interred th? garden of rembranCe by tho rnsurrection p RKtor'i Report (Miniitry Wor5hlp) A hjll progrdmme ol serylces has been malntalned thrtyJ8h)Ut the year and the patwn for worship has n¢X Chin8. Alon8slde $¢ThIc w• hav4 hdd a nurr¢r cl coursu and event¥ aimd at involvinz people in thé lifè of the parish and commuThity. The develcgmffjt of the SL Gills Socltty, u a venue ftt le•rned dlscusslons. has be a welcome addltlc to thls mlnlstry of l(L¥ll 2023 marked as a 'Year the &ble'. and thwe ve a number of guest 5peaker5 and evenrs dudng the year almed at helplng people enge %¥lth holy scrtptyre in a fflore meaning1 VAY. Lent and Ad¥•nt Coursos were held tho fDrni•r parriculady wdl4tt•nd•d. Giv•n th• busy navJr• d DKunber It has been d•cld•d thir in fvtyr• thi Adv•nt ctyJri• 711 b•c¢Jm• an 'auvJmn' c4JurM in Ocrobw. In septnber thwe VA5 a parfth trlp to SL Gdles du Ganl in Franct Nlne parfshlonen made the lourney w ylslc the area and learn more about the Ilfe of ¢ur patron AlnL The thp wJ5 orpn15ed holndy wth the parish of St Gile5 Crlpplegate. Th• Coronation of HIS Majesty King Chirfe$ 111 t$ m4rked by a service of choral evensong cffi Frlday the 5th May and ch$ servlces on Sunday the 7th vlth the chdr slnglng Zadok the PrfesL A lunch held In th• Ve5ry House follwlng the Sundiy serySc¢. Th• bell rfngers rang a lull peal for the (CS1On. A member of the coronavJon. Trooper Andyjackson IHCMRI. served as the held Mar5hall'5 Trvmpew In the coronatlc4) processl+2n and rode behlnd the gold state coach at the concluslon of the coronakn s•rylci The padsh rtc•lv•d an Asslmnt Curnw Mr Phllllp Dav. ththo was ordaln•d In SL Paul'i Cath•dTrl at P•tv¢lda Phlll¥ wlll s¢r¥e th parish for up to three years a5 he prepare5 him5eN ljr a role of wider responslbiliw. Whllt In the parith Phillip VAU be released to lead TshIp at St Gtorges PAoom8bury on a monthly basls and h¢ wll alsc work to de¥dop Ilnks b•ith the ¢haplain¢y alth• Lond S¢hool of Medicine and Tr¢)pical Disease5. It 15 hoped thar he wll be ordained to th• priesthood at P2terdde 2024. He has bl•) a most tome addldon fts soff at St Glles. Mr Edward Mrmlllan compl•r•d hh year as parlth Inwn Sn Sq>f¢mb¥. havingbw 5elecred for <)rdlnadon tralnlnx, whlch he wlll undergke at Rldley Hall. Cambridge. Edward played a 51gnlflcant mle In the devdopmont of the ministry at Si Glles and the numerlcal gro¥•th In the congregation. He v711 be misstd but look for¥Rrd w sodni his carner dthf¢lop. Ic is anticipared that wll uk• on another Ministry Intym in th¢ autymn 012024. Or Wll James condnues to th t£vrdS bdn811¢4nceAlas a Lay MIn1r Inthe Dlocese and loc4( forward to a wrvlce to offlcially a¢kno4edge the occaslon ln sep(ber 2024. For thè sak• d ¢ollryk11iLy a Minlstry Fellow5hlp VAS esfablish¢d In 2023. meanlng thatthose had a role in the publk Minis of the church, her ChIng and *r$hOP. sh¢)uld mee¢ wgether on a regular bisb¥ to discuss progr015 and argas for devdopment acro55 the parish. Wil hme5 was apwnted to chair th¢ m¢¢¢ings which have met an number of MeS to plan events, evaluate and c&r peer to pttr supporL St Gile5 Ch¢yr and Quartet cononue to support the n$11 lrfe ol th• parlsh In an engaglng VAY. k has pleasing ¢0 El¢ome some m)berS to the Choral EV$¢ng Choir and 1¢ is hoped to continue w grow in number and repertoirL We are thankthjl to our Director of Music, mrj&th%n nnY for his mintstry kn thls a
PAROCHIAL CHURCH COUNCIL OF ST GILES4N-THE-FIELDS
Report of the Parochial Church Councl
Forthe year ended 31 December 2023
We have vcome a numb•r of nthv mornb•rs to th• (gr•¥all0 and it 15 heartening to see that wshippin8
onvnunity Is CClinln8 to zrow. Four m¥h)ers were ¢t)nfirmed this y•r. Thanks be to God.
Chur
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE-FIELDS Report of the Parochial Church Counc For the year ended 31 December 2023 The day ended a garden pary tn the Master's Grden nLKt to the Temple Church. The day VA5 beautifijlly sunny antj the &$hop jolned by varl¢)us rnembery of the clergy and laity along the way maklng Ic a memorable celebraiion ofour dtantry. &shop Sarah Is due ro hdd anothw deanery day. 8th June 2023. The Deanery syn met at St Pul'& Covent Gardth. on 18th Ott<>ber 2022. The Rector and hls cdleagues provided an exceptionally VAM elcc¥ne to synod. and de4elopments to the building and of the parish's mission Ire explained The rnaln featyre of the meedni wa5 the be8innin8 af a wries d mini prÈsenrau+Jn8 (to fake place at ¢a¢h meetin8 of synod) to undersund. and therefore Jhar 3¢KT of the going on in the parlshes and InsiJtsiiions wlthln our deanery. Syncd met most rnc•)dy on 28th February 2023 at St M•tthe4Y'& Westyninstw and re1ved some more sh¢rt pr•5entations on Parfsh Initia¥¢1. An on LIn8 in Love and Faith, flnI the succes1 pas51ng ol an amended mouon •t General Synod earller in the month. donmnattd diKusiion. The final m¢edn8 of the Current tyiennlum lll be at an evening garden party on 8th fvne 2023 at the end of the &shop' day In the deanery. The trlennlum d5 30thJune and nvAy-qlect¢d mwnb•rs d the $ynod will begin th•ir twm ( l it fvly 2023. El•ctornl Roll Th are 83 nam•s w•r• de¢lar•d ro be on th• Electornl Rol at th• 2023 APCM (77 nam In 2022} Fln•nc141 Rv•l•w The General nd balance (note 10) decrtased by £320,834 P022= a decrnast of £27.6841 prfncSpally dut to the Invutment In the refiJrbIshmE of the Vw House and the in5tr51adon of hosplully lacllloes it the rtar of the ¢hur¢h. These were de•n4d ess¢niial prole¢ts almed ar restor(nR and deldoping the bulldlngs for lder congregadonal and communlrr use. Due to th1$. Prov15Ion of Church buildin&f4cilities and equipment incrÈased to £320,720 P022.. £63,8881 Grants from The Wox Street Chariy in lin¢ ith prior y¢ar (L220,000 Q022.. £21 O.CQOII. Leulnis incomt reduced to £25.67012022.. £51.858) due ro prl¢lng chan¥•5 Implwr¢nted fcr MtJl ol the churrh and reduced renlal Income fr¢m the Vestsy House due to the refurbi5hrnenL In addiiion to the Ger1 fvnd amouThL the trusoes hdd other funds suth Is thè ddltnated R&servÉ Fund. However. at year end. tod Free Reserves were In a ddcit POSIOn 01 £58.12812022.' 5urplu5 of Q72.4691. Th• deficit 15 primari due to the on eapiul works undertaken in the churth and Vesuy House. The PCC anticipate that Free Reserves wlll retyrn ¢0 2022 levels wthln the next 18-24 months. finalty. the trustees held. at year end, the Sum af £9.575 12021. £6.7531 of restricted fvnds b•ng special collections rnad& typitalty on the blrst &Jnday of each month. lor the benefit of temal charitiu. The importance of good finantial planning 18 re¢4nised by theTrustees and the annualbudgedn8 rouThJ Is the principal t¢01 used for th13 purpox Regular mna2ernw¢ iccounts ve prryjuced and r•vle%¥nd ¥¢ PCC Meing3 throughout the year. 4.1 Fln&ncial A¢vIty and Flnancial Po1Sllon This year rewrned a net operniing deficit of £318,198 (2022: deficitol £27.9071. kn ternu of the overnll frnantial positior¥ the balance Sheet shows totsl ner liabiliiie5 of £44,346 Q022: net a55ets rl £273.8521. Included In toral fvnds are amounts totslling £9.575 (2022: £6.753) *thich are restric. These monie5 have either been ralsed f¢r. and their use restricted to. specffic purposes or they comprise donations subj•ttto donor-imp05qd tCdiOnS. Full detsils of th•s• reStritt fvnds be l)und in note 9 to the accounts together an analysi5 of rnoyements ' the year.
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE-FIELDS Report of the Parochial Church Council For the year ended 31 December 2023 2 Rter¥ts Policy The PCC has examined the requlrtments for free rewies. l.e. th)se unresffict4d ndS not Investrd In tangible fixed assets. The PCC c0Th51deTS thaL gfva) the natsjre of the church'$ free re$t$ should be equNalent tg approxlmat 6 months, rryJtsne general fvnd eXwdr plus commitred hjwre txpendthre on other prq'ecty, where fvnds pemiL The PCC is of the opinion that this provides sufficlenc fflexibility to cover ttmpordry shorthlls in income and will allow the church to cope and resPd ¢0 unfOrU erIenCIeS wth115¢ 5pecffic 4Cti)n plans are irnplement•d. At 31 Deceh)ber 2023 the church h•d nrf free r¢yrves deficlt af £58.128 P022: net free wTrlus of £272.4691 a$ folo¥Y&'. 2023 2022 Total r•••rve¥ Lw. rutricted funds Le5& onilble fixed assets (44.346) (9.575) 4.2071 280.182 (6,7S31 19601 Frn• r¢Mrv•• (51,128) 272,469 Fre• r•sthv•• requlrwnent 6 month's budgeted roudne Éxpendkure 130,000 130,000 The PCC Is aNYdr• that th fre• rwulrement Is boluw the frt• rtter¥•s wlflon at yr end du• to the capl rks undenJkon durtni the year. In thé near temK the PCC wlll seek w replenlsh reseThe# In ¢)rdr to mainraln a level of fr¢• weThes vthlch are ai ItasE equfvalenc to the free reserves requIrwL The PCC TrAII se& as li has done In pric< years. to r•tsln th• equivalen¢ of nin¢ monthly Irom Th¢ WesL Street Charity. Thi5 PCC had prevlousty deemed thls approxlmarely wu1val£ w £130,000. Thls imountwlll be r1•d during 2024. An invw¢¢d Reserve Fund wlll be Intalned In ordtr to 4nsur• that the alms of the Charlty can continue to b¢ me¢ In th• •v•nt of Sudd fininc ad¥4r$lry and would onty be drnvffi upon rf i credlble plan kf Its replen15hment 15 presen¢ed. J Invutm•nt Pollcy The church currenty pla sparn funds ¢)n bank deposbr and a thlrd party In¥•Stsnt manag•r. 4.4 Grants Pollcy The PCC make5 annual zr4nt& •qur¥altnt to IO% of iu unrstrict•d inc¢)m• I1¢h includes gift ald clalmed back ind rontslllnv•stm•nt inC)m•l. to support mitslonary d#YourS both in the UK and abroad. % Pl$ for P•vlod• Castlng of The E117ab•th 8dl tlnued work on Plan 2034 The PCC is re5pon$ible for prtparing the report and the ffinancral statemenrs in accNd4ncevrith applicablelawand United Kingdom Gener411y Accepted Ac¢ouniing Practice Charity law in England and Wales requires the PCC to prepare flnanclal statements for each financial year vknich grve a true and fair of the of affair5 d the PCC and of the incomE and appliuiicffj d in¢une of the charity that period. In preparlng those financiil s¢atements the PCC is required ts select suitsble accounting policies and apply them conslstthty; observe the methods and prtnciples of the Charides SORP make judgements and eKlrnate5 that are reasonable and prudenc
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE-FIELDS Report of the Parochlal Church Councl For the year ended 31 December 2023 sutÈ N¥hether appllcable accounting standards have been subiKt to any depamres disclosed ar explained in the financial 5tsternents- and Prepare thè financial statements on tht goinK concern basls nI#S IE Is Inapproprfjate (o presume that the actlvltJ•s of the charlw I11 contlnut Th• PCC is respS1b1e for k¥)ing adequate accounting rKords hlch dlsclose reasonable accuracy at any tjme the financlal position of the charfty and enables them to ensure that the financial cumpty the Charities Act 201 I, the Charity (Accounts and Reports Regulations 2008 and th• provis1$ of th• goveming docum•nL The PCC is 41$0 responsible for sauardit)g the asse¥s of the charity and hence for tsking reasonable step5 lor the preventson ard detsctlon of hud ind other Irr4ularities. The PCC Is resp11b1 fr)r th¢ r1w1nan¢t and Intsgrity of th? charlty financial Information induded in the charity's websit 7. Ind•p•nd•nt Ex•mln•r The Trustees are pleased tha¢ Mr Rkhard &llln&hurs¢ of Knox Cropper LLP. Chirwqd Accountynty, ha5 bwi and vhll rernn kndependont Examiner k•r the Chari(y. & Appronl The report of the PCC was approvwj by the PCC on 8 Mly 2024 •nd ¥izn•d on iu bthaw by: R•v. T Sandw (Re¢tor) Chirm*n
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THEIELDS
Report of the Independert Examiner to the Parochial Church Cowicil of
St Giles-in-theields
I report on the accInts ol the Partthial Church C
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE-FIELDS Statement of FinancTal Activities For the year ended 31 December 2023 Unrestricted Restriit¢d Funds Funds 2023 2013 Unrtstrltted Restrltted FuDdi Fundi 2022 2022 Total 2023 Total 2022 Not• lTr¢ome from: Donatio¥15 and legacStt Charitabl• a¢ovioes Other trnding #ttiviti•s Investmtr 249.410 3.410 252.820 242.478 450 51,858 4,860 6.047 248.525 4SO 51.858 4.860 25.670 7.499 25,670 7.499 Total Income 281579 3,410 215,9 299.646 6,Q47 305.693 Exp•ndltur• on: Rai$ini fvnd3 arf¢able acdyldes 19.592 583.821 19.592 584.595 774 288.014 6.456 294.470 Total ¢¥pendlwre 6•3,413 774 604.187 299,227 6,456 305,683 Net galnsloosses) on Investment¥ P7,91n (27,9171 Net Income {320,834) 2,636 (318.198) (27.498) (409) (27.90T) Transfers bttwetn funds Othv rnco8nlsed gains and loss (186) 186 Net movement In funds (321.020) 2,822 (318,198) (27,498) (409) (27.907) T•tAI fvnd brouzht forw•rd 267,099 6,753 173,852 294,597 7,162 301.759 Tot1 fund* ewrled forward (53,921) 9,575 (44,346) 267,099 6,753 273.8S2 Ji
PAROCHIALCHURCH COUNCIL OF ST GILES-IN-THE+IELDS Balance Sheet For the year ended 31 December 2023 Unrestrict RtrIcted Funds Fundi 2013 Total 2023 Total 2022 Note Flxed Tangible As5• Investments 4.207 4.207 960 238,988 4.207 4,207 239,948 Curr•nt A••ts Debtors Cash At 83nk And In Hand 28.161 50.704 28,161 60,279 11.889 88.733 9,S75 78,865 9.575 88.440 100,622 Crdltorn - Amounts F15¥ t• thln On• Y•r 136.993 136,993 66,718 Net Curr¢ (58,128} 9,575 (48.5531 33.904 Net Aliets {53,921) 9.575 (44.346) 273.852 •pr•••ntsd By: tt(d Funds Unrestylcted Income Funds 9.575 9.575 {53.921) 6,753 267.099 10 (S3.921) Tot1 Fund• {53.921) 9.57S (44,340) 273,852 The flnanclal ntwnents approvvj by th• PCC on 8" 2024 Ind *n•d on Its behaw by: Wlll Grundy Trurer J2
PAROCHIAL CHURCH COUNCIL OF ST GILES4N-THE-FIELDS Notes to the Financial Statements For the year ended 31 Decenther 2023 l. A¢¢ountlnz Pollcl Tht principal •c¢ouniing policies adopod. judgemenrs and key s¢ur¢e$ estimation uncenainty in the preparation of the flninclal itatemenrs are fdlow3: The flnanclal stttemenrs have been prepared und¥ the chari¢$ Act 2011 and in accordance with the Ststernent of Re¢¢mmeffjded Prn¢ti¢e (Charities SORP {FRS 102}) and Fin•n¢ial Reporing Standard 102 {FRS 1021 Tht financial statements are dravm up on the historical cort bajis d accounting except lor the revaluation of freehold lind and bulldings vthlch are ShM at mxrket vxlue. The (IDan¢lal mtemenfs Intlude all transacdoni, assets and Ilablhdes for tlthlth the PCC Is reOnble In law. Thry do ncrt include the aCCtr of church groups that an affiliaow ¢0 4nother body ¢x thos¢ thatar• Infom41 gith•ring5 of church members. Th• PCC m••ts th• ddniii¢)n d a public bthdt tyitiy und4r FRS 102. Goln¥ Concern There ire no maTrrlal un¢tnlnO¢s about the ¢harty'$ ablllry to ¢onthu• as i idng con¢•m and 1¢¢ordlngty th accounu hav• beln drnwn up ¢)n a golng cM¢•rn ba V¢4untary inccffle and don41i¢)rts On¢luding Ar¢ I¢¢¢¢d for onc¢ th¢ PCC his wthiempmt to th¢ in¢¢ It Is probable the Income 11 be recd¥ed and the amount of income rKd¥4ble can be reliably measured. Incom¢ from th• rKoY•ry of ux on gKt aid d(aeI is actounthd for in th• PDd to whith th• r•l•vant donation 1$ r•c¢lvtd. Grant Inccthe Ls recolnlsed c) a recelvabl baslL The Irb¢we from tradlng Includu rentrl Incixne Irom the lettln¥ of church praThse5 ind1•4¥thold knnd bulldln8svthkh Is acctyJnt•d lor then Ic Is shov•f 8ros& thlth the assoclat•d costs Included In fvndrdlsln8c+Xts. Int•rnsr fvnds hdd on d1>[E ts Includ•d wh•) rncthibl• and th• amount can b• m•asur•d r•112bly by th• charbty: thls bs nLYmally upon notslcatlon of the knt•r•st pald or pardbl• by th• bank Expendltur• r•coznltlon Exp¢ndSuJre Is accrued as soon as a Ilablllty ts considera probabl4 and th¢ imount of obl18aOn can b• measured rellabty. Longer terni Ilabllltles are dlscwnted to present value. The PCC Is not reglstered for VAT and accordlngty •XpdIJr includ•s VAT apprnprla Expendlwr• Included In Rai51ng Funds include5 amounts incurrnd in obttininKgrnnts and othwdonabons and propwy malntènanc• tosts. Charltable pendIre Includes those costs In TrAIlIng the PCCS prbnc5pal oble£ty a5 oudined In the REport of the PCC Th¢5e include grants Payab governance costs and an appcrtionnwmt of support costs. Grdnts payable are paymwts made to thlrd In fvtiher4nce of the PCC'S objects. kn the case of an un£cnditional 8rant offer thi5 15 accruvj once the reciptht has been notified of the gr4Trt avArd. The notification gives the recipient a reasonable exptctstion thatthey v•ill recdwe the Rranc Grydnfs awdrds thar are sublect to the recipient fulfilling perfonnance condttson$ are only accrued then the rttipient has be Thvlified of the 8fdnt and any remaining Unlled condition attaching to that grant is outside of the ¢trol of the PCC. Goyernance costs comprf5e all costs invol¥ing the public accountrbility of the PCC and its compliance vith regulati and 8¢)od prauire. These costs include com related to the independ¢ auditlexamFnation and14 The PCC Contribu ro certain employees. persMal pthsim planThese are defined contiibution schemes. the issets ol ¥thi¢h are held separn*ly frryn those of the charlty. The cost kn the xcojnts 15 the amount cl contributions pah4 and payable during the year. 13
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE-FIELDS
Notes to the Financial Statements
For the year ended 31 December 2023
l. k¢ounil#i P•fi<iu (conlinued)
R18 und4r operaong loqjes are charged as incurr•d ovér th• tem of the l¢as&
Tan8lbl¢ Flx•d Asiéts
Con5Kfored Property oftd Mo¥e¢th Fumi¥hrys
C¢nsecrnred land and bendtè proptrty such as the church bulldrng vic4r4ge Is ClUded the accounts In
accordance with sl O of the ChartUt5 Act 201 l. Movtable church ¢on¢ents are held by th¢ vicar and churchwardens
r)n spttial trust for the PCC and require atsculty frir disposalar• accounted as Inallable prepery unles5consecra*d.
All expendlvjre Incurred ¢on3¢cra¢ed w b¢ntfict buildlngs and moveable church furnishlngs. vA)ether maintenan
or improvem& 1$ w
PAROCHIAL CHURCH COUNCIL OF ST GILES4N-THE4IELDS Notes to the Financial Statemerts For the year ended 31 December 2023 I kn¢ornE Unrestricted R•%trict Funds Funds 2023 2023 Total 202J Total 2022 Donatlons & lepclu Planned 8iYin8 Collections & donations Inccme tsx reeklmed Legacies Grants 11.863 12.349 4.556 11.863 15.759 4.556 8,162 21.892 3.636 3,410 220.642 220.642 214,835 249.410 3,410 252,820 248.525 Charltablè acdvld MusitianlOrDnist 450 Other trndlng Income Le¢dngJ income 25.670 25.670 51.858 Inv••tm•nts Dlvidends Intwest Received GalnslLosses on knvtsunents 3.153 251 4.095 3.153 2SI 4.095 4.825 35 7.499 7.499 4.860 282.5 3,410 285,919 305,693 J. Exp•ndltyv• ¢Jn R•lilni Fun Uhmtrlctsd Rthtrlcted Fundg Funds 2023 2023 Totsl 2023 Tolxl 2022 Invesunent ffona8emt fees Publicitx Legal & prcrfesslonal fee5 C¢llectin¥ •8Vlt fees 1.814 11,39S 6.309 74 1,814 11.395 6.309 74 2.454 1,430 7,279 50 19.59Z 19.591 11.213 15
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE4IELDS Notes to the Financlal Statements For the year ended 31 December 2023 Urbrtstrlcttd Restrlcted Funds Funds 2023 2023 Total 2Q23 Total 2022 Provlslon of {Includlng Cornm Fund) Church Ilfe & outreach Glfts & grants (see n¢x• 4a) Offlc• colls Provislon of Churth bulldini. fac11e$ & equipmwt Govwnance 15,987 60.600 2.679 78.135 320.720 5.700 115.987 60.600 3.453 78.135 320.720 5.700 86,565 58.144 2.956 78,657 63,888 4.260 774 583.821 774 SU.595 294.470 4a Glfts & Grants Gits and grants Included V•ithin Expffjdiojre ¢n Charirable Actyitse5 are is follo¥. Unr•strlct•d RtrIctd Funds Fundi 2023 2023 Totsl 2023 Total 2022 Gifts & grnnts tth. Oryanlsadons Indlvidu•li 774 774 2.679 2,556 400 2.679 2,679 774 3.453 2,950 4b St&ff Costs In¢luded wlthln txpendltyjre on tharfubl¢ acuviiiu ar¢ the fo15orynK staff costs.. 2023 2022 Wages and salartes Se¢lal securlty costs Employer allOne Penslon costs 67.596 6.013 {5,2491 1.965 54.996 4.922 (4,922} 1.894 70.325 56,090 Of vthlch the following relatr to Kty Mana¥emeni Pvsonnd.. Wage5 and sabarfes Pension costs 70,325 56,890 The ayerage number of ¢nyloy¢¢5 durin¥ the year WA$ 3 (2022.. 31 No eMpee5 re£ehTJ payments In of 160.000 durtng the year. 16
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THEIELDS
Notes to the Financial Statements
For the year ended 31 December 2023
FIxtur.
fittlny &
•quip1v¢
Cost
Brought forward at l January 2023
Additions
Di•5111
1,290
3,834
At 31 D•c•rnbv 2023
5.124
Depreclatlon
Brpu8ht (prydrd at l January 2023
Charge lor Year
Dlsposals
330
587
At 31 December 2023
917
N•t 8ook yU
Ar 31 December 2023
4.207
At 31 D•c•mbr 2022
960
O. Flxod A••et Inv•Jthits
2D23
2022
Market ye - quoted Investm•nts
At l January 2023
Additieffis at ¢oi¢
Sale prc
PAROCHIAL CHURCH COUNCIL OF ST GILES4N-THEIELDS Notes to the Flnancial Statemerts For the year ended 31 December 2023 2023 1022 Income tsx recovernblt Lettinz5 receivable Other debtors 11.779 14,192 2.190 7.223 4.666 28,161 11,889 Cr•dttorn- Amounts F111 t• Wlthin On• Y•v 2023 2022 Sundry creditors and accnjals Trade creditors Loan from Wttr Swee¢ Charlty 4.380 82,613 50.1)00 3.658 13,060 50.000 136.993 66.71• 9. kntrict•d Fund Atl January 1023 A¢31 D¢c•mber 2023 9a: Curr•nt Y•ar Galn Incom• EXpdIr• Tr4Tr•kn Oosiw) Speclal cdl•ctlons &'shop¥ L¢nt Appeal Leavlng collecdon Mlgrant Help UK Showerbox W•st London MIMI Windows Btble S(Klty Chrisiian Aid L•prnsy Mission Royal Agriculwral ÈeneYol•nt Fund Designated.. The Halo Tt 359 412 {398) 373 150 850 150 850 376 5.001 (376) 5,001 1,077 302 1.077 302 185 185 298 186 6,753 3.410 (774) 9,575 9. R••trlctod Funds {¢•nilnu•d) J8
PAROCHIAL CHURCH COUNCIL OF ST GILES4N-THE-FIELDS Notes to the Financial Statements For the year ended 31 December 2023 Atl At31 9b: Prlop Y¢•r Galnsl (105ses) 2022 kncorn• Exp•ndlthr• Transf•rs 2022 Specbal collectlons American Church &shop of London Fund shops Len¢ Appeal Enew Grant Leaving colleuion Migrdnt Hdp UK Showerbox Sing for Ukrnlne We¥t London MIMIC Wind¢ 359 359 156 235 126 {IS6) P35) Q16) (2.641) 1641 Iso 150 850 17 850 1.000 1.107 p.101) (1.107) 376 5,¢)0 I 376 5.001 7.162 &047 (6.456) 6,753 Dtxriptsonj af the various re5tyiCted (unds are as fdlow4'. Specl•l ¢olle¢tlons. The spe¢lal ¢dIeCOn lor Housln8 lusdc& Am•rl¢m Chur¢h. A colleaion for th¢ Arner6c4n Thurch in London. Blshop of London Fund. A colleCu the &sh4¥ of Londthi Fund. Bishops Lent Appe•l A cc41ectlon frx the Amedcan Church In London. L•avlnz collecdon. A Colletti for a of th¢ church. Showerbox. Gran received w tu#d the ShoNrt>ox the church prniies. Sho*vbox pr(Nide and secure shower Jpace for the srreer and hldden homeless In Lond4)n. Wmt London Ml••lon. Collxion for the West Lond¢)n Misiion. Wlndows. L4a£y rettlyed far soln tsss r¢pilr. Chrlstlan Ald. Cdlection for Chdsiian Ard Leprosy M1551on. Cc41ecd¢Jn for Leprosy Mlsslon Royal A8ricultural Bon•vol•nt Fund. Cdleuion AY Royal A8ri¢ulvJrnl Fund The Halo Trust COllecdc for th¢ Hilo T$t IQ. Unrwtrlct•d Funds IQ&. Current Y•ar Atl January 2023 At31 D•cemb 2023 GAlnil lThcorne Expendlture Transfer# Oos¥w) General fijnd De5ignatrd.. Reserves fund Designa.. Mission Work lund Designated: The Halo Trurt 121,893 137520 7500 186 282.580 (603.414) (198.941 137.520 7.500 {186) 267.099 282.580 (603.414) (186) {53,921 I Unr•¥¢rfct•d Fund• {¢onllnu}
PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE-FIELDS
Notes to the Financial Statements
For the year ended 31 December 2023
lob: Prior Y¢•r
Atl
January
2022
At31
December
2022
G¥ln
(lossw)
Income Exwdithr• Transfe
Genernl fvnd
De5ignatrd.. ReseThes fund
De518natrd.. Mission WO (und
Designated.. Chrijtian Aid
Designated.. Lq>rosy Mission
Desl8nat¢d.. Royal Alricultyral
eenevolent hjnd
Dalgnat•d.' The Halo Trux
149.577
137.520
7.500
298.618
1298,385)
127,9171
121,893
137.520
7.500
126
491
(126)
(491)
225
186
Q25)
186
294.597
299.646
(299.22
(27.9 IT)
207.099
DePen# rA the maln dttt1na fvnds ire as fdl¢yh%:
Relery Fund. Fundj se¢ ayde by the PCC for fvtyre years.
Mlislon Work fund. Fundi Mt aiide by tht PCC w lurtd million wo
I l. Adat•d PArty Tr•nMrtl•n*
Tht Rtv T Sanders and Mr W Grundy ar• Iniste•s In common the Wesc Street Charity ffte8istered charly
number 1135436). The obl•cts ol the W•tt Str••t Charlty includ• the maintenance and upkeep of the church ar
Churchyard of St GS1#. and such oth•r charitable purposes Connecred the work of the Church of England thIn
the said parish or the surroundin8 distsi