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-THE*IELDS Report and Financial Statements 2023 Contents P￿• Le8411￿d &dTrwnigtratlv* Infom*tlon Report of the Paro¢hl•l Chyr¢h Counol Ind¢p￿dent 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$4n-The-R¢lds Prtncipal Addreis St Glies4n4he￿Cld￿ 60 St Giles High London WCIH 8LG Charlty Re￿%￿a￿On 1130800. The PCC was re¥istend V•ith the Charity Cornmission In 2009. Governlni Docum•nt Parochlal Church Gwn¢il P*3V•WS MÈasur¢ {1956) ￿ am•nd•d and Churth R•pru￿tatiOn RuleL Obl•cdY•i Parochlal Church C¢uncll of S¢ Giles in the Field5 hasthe respMsSbility of coopera￿n8 the Incumbent ol St Gtle5. In promotin& In the Kclesllsdcal p•rish the v*hole mission of the church. pistcrdl. trrtngelistic, ￿tIll and •cumenical. M•mb•n of th• PCC PCC rnpJnbers vkno 5er¥ed durlng 2023 or were ser4lni 1¢ th• daw this report wai approved Cleryy Th• R•vd T Sandw (Rtttor The Revd C Smilini {knlsrant Prfesr) The R￿d P Da￿¢￿1 (Asslstant Curate) {from l fvly 2023) Wardens Ms C Campbdl MrORory Dthn•ry Synod Rq>r•*nodve Mr J Ken Toh EIKt¢d men**¢rs Mr H Amos Mr W Grundy Mr O less Ms L maCdc￿lId Drwhm Mr T Dow5• MrACap Key M4n4emtffit Per50nn Thosè In chary• of plannlni, d1rnt￿l. comtrollln& runnlng and op0rd￿ft8 the Chirlty, intludirtg thos• membtts of sraff vtho are the s￿l0r manaK•ment pwwnnel to whom the tyustw have delegated slgniflcant authorfty or respon$ibi15ty in the daY-￿daY runn￿& of the Charity. are the M￿ther% af the PCC 3￿￿ert 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-THE*IELDS Legal and Administrative Informatlon For the year ended 31 December 2023 Solicltors Win¢k￿th Sherwood Minerva ￿￿￿Se 5 Pkntsgu aose SEI 988 Invé*tm•nt M*na8tv Inwesttc Wealth & Management Lmit*J 2 Gresham Stre¢¢ London EC2V PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE*IELDS Report of the Parochial Church Council For the year ended 31 December 2023 The Pamchlal Thurch c￿n(lI cl St Giles in the fieldi ('PCC'I iubmits iu report and the financlal statemthts for the year ended 31 De¢ewr*er 2023. The finan¢ki1 $tarWn￿rs have been prepared in the form*t pre5tribed by the Statem￿¢ of RecoMm￿￿ed 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 Tr*in•thg The Trust¢¢s of the Charlty are m*nbers 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•n￿ts 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 fd10￿hIP of th• Church, and engagement with sttkehdden in the lotal public r￿lm. 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 ChU￿h matt•rn, advise th• PCC wth¢r¢ ne¢¢ssary. Ind ¢na¢t d¥1$1￿5 as dd4ared by the PCC. RSik Manaiement The Trustee5 c￿tin￿￿ to th¢ mzjor riskn to Yhthich th• Chary is expos•d. pjniculirty those rdawl to the optrttton$ 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 re4iv*Kd. l A¢dvld•• & Str•tsfv¥ The aim5 of the PCC ar• to *r>rk ￿1th th• Rector in prom￿1Th£ tho Parith ofSf4iltt*n4htrFidds and th• wthole mtssl th• Church. paswral. •Yan8•listic. soclal and ecum￿1￿1. 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• pruf¢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 v*711 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£v￿rdS bdn811¢4nceAlas a Lay MIn1￿r Inthe Dlocese and￿* loc4( forward to a wrvlce to offlcially a¢kno*4edge 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￿$1￿1 lrfe ol th• parlsh In an engaglng VAY. k has pleasing ¢0 El¢ome some m￿)berS to the Choral EV￿$¢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 v￿come￿ a numb•r of nthv mornb•rs to th• (￿gr•¥all0￿ and it 15 heartening to see that *wshippin8 onvnunity Is CC￿lin￿ln8 to zrow. Four m¥h*)ers were ¢t)nfirmed this y•r. Thanks be to God. Churr th• parith church will b¢ du• in 2024. Phns far the Instsllatic￿ of * KirchenettÈ at the rear of th¢ Church have be￿ can¥)lÉt*d. The ar8a will selve the church congregation on a Sundiy5 rElreshments and v4ill also be available for use vthen the church is hir8d for events. The ￿rk of the Vewy Hou1¢ completed by the end of 2023 according to the specmled plan5. The work has been done to a high stsndard and it is pleasing to see the building coming back to lif& In 2024 there need5 to be a focus on pr<>perly markedng the ￿8¢¢ for commer¢lal and ccmmunty ust A budget has b•8n ￿re¢d for thli pyrpos•. The notlce board listing servlce times kn the churchyard replaced a new sign ol the sam• dim•niionJ as th• oid on Th¥¢ condnu• to be dlicusslons with Camden th• replacement cl the ra511n8s and i•n•rnl ¢ondltl¢n of the churchyard. Generdlly the church bulldin8 is In 8ood ordw. W¢yks to be undertaken in 2024 are ro r•palr th• cio¢k install the Elinbeth bell and $ed( dettiled estimate5 for the redec¢>Aiion al th¢ ￿tire thurth buildlni. The Hlstory Prtslect The P￿tc£ to produc• a new hlstory al th• parlsh r•achthl fruldon duthi th• coum of 2023. rr4rkln¥ th• culm(na￿ ol almost ffive years of r¢sur¢h •nd writing by its auth¢)r% Rebrxc• Prerton ind Andrew Salnt The book Is scheduled br Publica￿On in May 2024. W•itn4nit•r (St M4r84r•t) D￿Tr￿y Synod - Trl•nnlum 202&2023 Ovèr the lart 12 mmths the lrfe ¢1 our D•anwy Synod has relain￿ iu m¢jm￿￿m. Synod met on 26th Aprll 2022 at St Matthe•V'S Westyninrter. the locus of the meeting b*ng • prewjwi frorn Pwny Rob•rts of thé Lnndon Dloc4san Board hr Schools abouc the Board and Its role in the punulr of the dlsxesan 2030 Vision. On Friday 10th Jun4 th• Bithop of London sP￿t * day in the d¥nery. This beDn wdth 3 5cho¢l seThlté at St Barnab￿,. Pimlico Road, and a visit w Sr Mary's &urn* Str••t Lo $e* the beginning of its Pineapple Proiect to crea* new communal use f4clllOe5 and c¢)nn¢tt th¢ churyh to the adja¢￿t clery ho￿￿. Blsh¢JP ￿tt￿h. accompanied by the Area Dean. Sub Arta D•an and Lay Chair. walked to St james the Lw Vauxhall Bridge Road. The parish's outre¥¢h in the community vrts explortra. and th¢ vicars of St savi￿Jr,S PimlSeo and St SrÉphen'5 Roch•sw Row lointd th* iroup ¥•thereupon the positive r￿￿ti￿ShipS bethveen th• churchtt Sn tha¢ part of the deanery were dlscusjed. Lunch In th• yrd•) atst Matthe￿4 Wesuninsttr %•lth suff from the school and the church and others followd b heading to Christ Church. DowTb Street in Mafiir to hear about th￿r parriculady amon¥5¢50Jdents. Thls Includgl trackin8 d*M one 8rtyJp of recen￿y*r4dUlted swd¢n¢s to an area of Green Park used rezularly by Christ Church for Fnxn thÉre the Blshtv Was aCC*Jmynled rts ￿￿M&.$ Pittadilly w learn ab¢Jut dvdopmentsl prgi¢cts and to see somo the work such as cwnsdling. whKh is undenaken the￿ Fdlu*¥ing tea the party moved to Si Mary le Strand where mrk had b•gun on crtating the pédesrrianued arta reconnecting th• church it5 surroundlngs. particularty King's College. The penultlwAte stop was St Clement Danes *there the assembled group w¥e shovm Vari￿￿5 aspects of the church aTrJ learned about Ks specffic C￿p1a1ncY rde wrthin the Royal Air Forc 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 G*rden 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 P*ul'& 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 I￿re 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 r￿e1ved some more sh¢rt pr•5entations on Parfsh Initia￿¥¢1. An on LI￿n8 in Love and Faith, f￿l￿nI the succes￿1 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 $ynod will begin th•ir twm ( l it fvly 2023. El•ctornl Roll Th￿ are 83 nam•s w•r• de¢lar•d ro be on th• Electornl Rol at th• 2023 APCM (77 nam￿ In 2022} Fln•nc141 Rv•l•w The General ￿nd balance (note 10) decrtased by £320,834 P022= a decrnast of £27.6841 prfncSpally dut to the Invutment In the refiJrbIshm￿E of the Vw House and the in5tr51adon of hosplully lacllloes it the rtar of the ¢hur¢h. These were de•n4d ess¢niial prole¢ts almed ar restor(nR and deldoping the bulldlngs for l￿der congregadonal and communlrr use. Due to th1$. 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 G￿er￿1 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 POSI￿On 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 Me￿ing3 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 tC￿di￿OnS. 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 Rt*er¥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 eXwd￿r￿ 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 resP￿d ¢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 y￿r end du• to the capl rks undenJkon durtni the year. In thé near temK the PCC wlll seek w replenlsh reseThe# In ¢)rd*r to mainraln a level of fr¢• weThes vthlch are ai ItasE equfvalenc to the free reserves requIrw￿L The PCC Tr*AII 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 r￿1•￿*￿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$lry and would onty be drnvffi upon rf i credlble plan kf Its replen15hment 15 presen¢ed. J Invutm•nt Pollcy The church currenty pla￿ sparn funds ¢)n bank deposbr and a thlrd party In¥•Stsn￿t manag•r. 4.4 Grants Pollcy The PCC make5 annual zr4nt& •qur¥altnt to IO% of iu unr*strict•d inc¢)m• I￿1¢h includes gift ald clalmed back ind rontslllnv•stm•nt inC*)m•l. to support mitslonary ￿d#YourS both in the UK and abroad. % Pl￿$ for P•vlod• Castlng of The E117ab•th 8dl tlnued work on Plan 2034 The PCC is re5pon$ible for prtparing the report and the ffinancral statemenrs in accNd4ncevrith applicablelawand United Kingdom Gener411y Accepted Ac¢ouniing Practice Charity law in England and Wales requires the PCC to prepare flnanclal statements for each financial year vknich grve a true and fair of the of affair5 d the PCC and of the incomE and appliuiicffj d in¢une of the charity ￿ that period. In preparlng those financiil s¢atements the PCC is required ts select suitsble accounting policies and apply them conslstthty; observe the methods and prtnciples of the Charides SORP make judgements and eKlrnate5 that are reasonable and prudenc PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE-FIELDS Report of the Parochlal Church Councl For the year ended 31 December 2023 sutÈ N¥hether appllcable accounting standards have been subiKt to any depamres disclosed ar explained in the financial 5tsternents- and Prepare thè financial statements on tht goinK concern basls ￿nI#S IE Is Inapproprfjate (o presume that the actlvltJ•s of the charlw I￿11 contlnut Th• PCC is resp￿S1b1e for k¥)ing adequate accounting rKords *hlch dlsclose reasonable accuracy at any tjme the financlal position of the charfty and enables them to ensure that the financial cumpty the Charities Act 201 I, the Charity (Accounts and Reports Regulations 2008 and th• provis1￿$ of th• goveming docum•nL The PCC is 41$0 responsible for sa*uardit)g the asse¥s of the charity and hence for tsking reasonable step5 lor the preventson ard detsctlon of hud ind other Irr4ularities. The PCC Is resp￿11b1* fr)r th¢ r1w1n￿an¢t and Intsgrity of th? charlty financial Information induded in the charity's websit 7. Ind•p•nd•nt Ex•mln•r The Trustees are pleased tha¢ Mr Rkhard &llln&hurs¢ of Knox Cropper LLP. Chirwqd Accountynty, ha5 bwi and vhll rern￿n kndependont Examiner k•r the Chari(y. & Appronl The report of the PCC was approvwj by the PCC on 8 Mly 2024 •nd ¥izn•d on iu bthaw by: R•v. T Sandw (Re¢tor) Ch*irm*n PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE*IELDS Report of the Independert Examiner to the Parochial Church Cowicil of St Giles-in-the*ields I report on the accI￿nts ol the Partthial Church C and that an indeP￿d￿t txamination Is needed. Ir Is my responslbllly to.. examine the ac¢*)unts {undw 145 of thè 201 l Ac¥.. to follow the procedures lald down In the General DirnKiioni by th• Charlry Crrfnm15sSon¢rs (under se¢d 14515)Ibl of the 2011 A£t)- and to sote thether pardcular rrAtter5 have to my attentt¢>n. of lTrd•p•nd•nt •xamln•rf rnport My examination wa5 carri•J out In act￿danc• the Generdl Dlr#tlon5 81¥￿ by the Chadry Commlsslcfiers. An examinati￿ includ•5 a rwbew of the accounting records by th• chariy and a comparI￿n of the accr*Jnts prqsent4d vAth those rec¢rds. It also Include% conslder4ti0n d any unusual it•m5 or disclosur￿ In the accounts. and the See￿n& of expl•Trad￿$ from you as tru5¢￿ concernlng any suth mitrers. The proceduw vndenaken do not provlde all the ovldenc• that b• r•quired ID an audif and. conJ4uendy. no oplnlon Is wven as to vknether the acC￿nIS pr•s•nt a 'true and talr ¥lev/. and the report13 Ilmlfed w those fflatt￿ set out in the Matement bdow. Ind•p•nd•ht •xamlnen' rtot•m•rt I have compl•t•d my examlnation. I conflrm tha¢ no matornl mau•n have c¢xne to my atrAntlon In connecdon whh th• mlnatson living m• cau1• to bdi4ve thai In any mat¥￿1 re￿ece l. accounting rttords *ve not kept In rupKt of the churth Is rw4uir¢d by s•ckn 130 d the Ac¢ or 2. the accounrs do not accord th0￿ re£ordi; or 3. the accounts do not ccmpty ¥•ith th• applicable requirem￿1$ c¢)ncernlng the form ind ¢¢nttht of actcMJnts ser out in th• Chariues {A¢¢ounts and Repo￿) Regulaoons 2008 other than any requirement that the accounts ilv• a'true and falr vi￿. *thlch Is not a IT￿tt￿ c&￿51d•r•d as part of a41 lnd4p￿d•nt examinaEiQn. I hav*no concerns and have come •¢rou no ￿[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 consider*a probabl4 and th¢ imount of obl18a￿On can b• measured rellabty. Longer terni Ilabllltles are dlscwnted to present value. The PCC Is not reglstered for VAT and accordlngty •Xp￿dI￿Jr* includ•s VAT apprnprla Expendlwr• Included In Rai51ng Funds include5 amounts incurrnd in obttininKgrnnts and othwdonabons and propwy malntènanc• tosts. Charltable ￿pendI￿re 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 Un￿￿lled 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 v*ith regulati￿ and 8¢)od prauire. These costs include com related to the independ￿¢ auditlexamFnation and14 The PCC Contribu￿ ro certain employees. persMal pthsim plan*These 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•fislL Credltory And provlJlon# Credltors and provlslons art rec￿nIsed there the chartty hax a present obllgadon &￿￿TrI from a pait that ￿￿11 probably result in the transfer of hJnd5 to a thlrd p•rty and the amount due to settle th¢ obllgadon can bè m•asured or •stimat•d r•liably. Cr•dltor% and pnJvI￿anS are reEo¥nfised at th￿r amounL Fund accountlng The funds held by the charlty are oith¢r. Unre3¢riC￿ lundi- thes0 art funds ￿thIch can be used In accortancewlth the chirittbl¢ ¢)bjK¢s at the discretion al the trusrees. Restricted ￿fid$ - these are funds that can cffily be used hr panlcullr resfricted purposes ￿thIn th• ¢bjecrs of the charity. R•strkpons •rfse Jpacifid by the donor or fvnds are raised for pardcular r•llrlcted purpos•s. 14 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 ffona8em￿t 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. fac11￿e$ & 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 R￿trIct*d 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 fo15o*rynK staff costs.. 2023 2022 Wages and salartes Se¢lal securlty costs Employer allO￿ne* 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 eMp￿ee5 re£ehT*J payments In of 160.000 durtng the year. 16 PAROCHIAL CHURCH COUNCIL OF ST GILES-IN-THE*IELDS 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 y￿U* Ar 31 December 2023 4.207 At 31 D•c•mb*r 2022 960 O. Flxod A••et Inv•Jth*its 2D23 2022 Market y￿￿e - quoted Investm•nts At l January 2023 Additieffis at ¢oi¢ Sale prc At 31 Otcemb•r 2023 238.918 Market Volu¢ ryrwnted by InvethMts In: Fixed Interest Equilies Emer¥ini Economles ( Property Al￿rnI￿v• Asse 45.812 143.664 4,452 10.149 34.911 At 31 O¢¢vJnbw 2023 238,988 Co•t- r•prw•nt•d by Invwthxnts In: Flxed Interest Equities Emer8ing Ecthomi ( Propery Altrrnative Assets 52,478 108.517 4.022 11,288 29.511 At 31 December 2023 205,816 PAROCHIAL CHURCH COUNCIL OF ST GILES4N-THE*IELDS 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 F￿11￿1 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• EXp￿dI￿r• 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 T￿￿t 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 ¢dIeC￿On 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 ShoN*rt>ox the church pr*niies. 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 De￿￿P￿en# 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 In unreStrlc￿d offeronij and don4UOThJ. Therè wer• no oth•r rÈlat¢d party transacdons elthor v•lth th• above-named charbttes or with th• trust•ts p•rsonalty oth•r than those already Stt￿d. 20