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PAROCHIAL CHURCH COUNCIL OF ST. MARY'S AND HOLY TRINITY BOW
Trustees Annual Report and Financial Report For the year ended 31 December 2025
The Parish of St. Mary’s and Holy Trinity Bow, referred to from here as Bow Church.
CONTENTS
| CONTENTS | |
|---|---|
| REFERENCE AND ADMINISTRATIVE INFORMATION | 1 |
| OUR AIMS AND PURPOSES | 3 |
| PROGRESS REPORT 2025: ACTIVITIES AND IMPACT | 4 |
| GOVERNANCE AND MANAGEMENT | 8 |
| FINANCIAL PERFORMANCE | 10 |
| STATEMENT OF FINANCIAL ACTIVITIES | 11 |
| BALANCE SHEET | 12 |
| NOTES | 13 |
| INDEPENDENT EXAMINER’S REPORT | 22 |
REFERENCE AND ADMINISTRATIVE INFORMATION
| Charity No. | 1130902 |
|---|---|
| Trustees | Rev Andrew Clasper (Rector from June 2025) Rev Andrew Rider (Assistant Minister) Peter Nicholls (Churchwarden until May 2025) Beatrix Brown (Deputy Churchwarden until August 2025) Andrea Cheevers (Churchwarden from May 2025) Kate Moore (PCC Secretary) Siobhan Hughes (Treasurer) Paul Selvendran (Deanery Synod Rep) Olivette Cole Wilson (Deanery Synod Rep until May 2025) Amanda Claremont (until May 2025) Chrystabel Austin (until May 2025) Ruth Davidson Anna Mathew (until May 2025) Rozalie James Lawrence Olsworth-Peter Brian Jowers (from May 2025) Julia Jasinska (from May 2025) Jordan Palmer (from May 2025) |
| Operations Manager | Rebecca Green (until Sept 2025) |
| Administrators | Esther Martin (until May 2025) Phoebe Dill (from Oct 2025) - hired as Church Coordinator |
| Principal office | St Mary's Church, 230 Bow Road, London, E3 3AH |
| Accountants | Griffin Stone Moscrop & Co |
| Banking services | Barclays Bank Plc.56/58 Broadway, London E15 1XJ Reliance Bank Limited. 23-24 Lovat Lane, London, EC3R 8EB |
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| Architect | Mr Alex Sherratt |
|---|---|
| Electoral roll | 04/05 - The electoral roll has 52 members |
| Website | https://www.bow.church |
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OUR AIMS AND PURPOSES
The Parochial Church Council of Bow Church exists to promote the whole mission of the Church in the parish of St Mary and Holy Trinity, Bow. This includes responsibility for worship, prayer, pastoral care, evangelism, discipleship, service to the local community, stewardship of buildings and resources, and the encouragement of Christian faith and practice in the parish.
In carrying out these purposes, the PCC works with the clergy and wider church family to maintain and develop the life of Bow Church as a worshipping, witnessing and serving community. This includes the holding of public worship, the teaching of the Christian faith, the nurture of discipleship, the care of those in need, the support of local and global mission, and the stewardship of the church’s buildings, finances and people.
During 2025, Bow Church continued to clarify not only its formal purposes but the particular way in which it believes it is called to live them out in this time and place. The recruitment process for a new Rector, together with the work undertaken through the Parish Profile, helped to articulate a mandate for the next season of the church’s life. This included a desire to hold unity in diversity, release lay leadership, nurture discipleship, deepen engagement with children and families, and pursue growth in Bow in ways that are faithful, sustainable and rooted in the local context.
Alongside this, two pieces of vision work helped Bow Church to name its sense of calling more clearly. The first was Being Bow Church , which described what we believe mature participation in the family life of Bow Church looks like, using the language of Come, Belong, Serve, Give and Grow . The second was the development of the Seeking Out framework, which describes Bow Church’s desire to seek out the abundant life of following Jesus, encountering the Spirit and growing in the Bible, and to hold open an invitation to others to the same.
This vision work is not intended as a revision of or update on the church’s charitable purposes, but instead to provide Bow Church with a stronger sense of direction as we pursue them in this season: as a church seeking to hold together worship and witness, discipleship and mission, spiritual renewal and practical service, gathered community and outward-facing love.
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PROGRESS REPORT 2025: ACTIVITIES AND IMPACT
Introduction
This was a significant year in the life of Bow Church. It was shaped in part by the continuation and conclusion of the vacancy, and in part by the beginning of a new season of leadership and vision. It was therefore both a year of faithful continuation and a year of new beginnings.
Throughout this period, Bow Church continued to sustain a lively pattern of worship, prayer, discipleship and service. This was made possible through the ministry of the Assistant Minister, the generosity of visiting clergy, and the deeply committed service of many members of the Bow Church family. One of the striking gifts of the year was that the church was not merely kept going during the vacancy, but carried through it with faith, energy and conviction, so that it was delivered into the hands of the new Rector alive with vision and possibility.
At the same time, 2025 was a year in which the church began to gain greater clarity about its direction. The successful recruitment process, subsequent strategic work and emerging direction have contributed to a growing sense of what this next season of Bow Church’s life might require and make possible.
Worship and the sustaining of church life through vacancy
A major achievement of 2025 was the sustaining of Bow Church’s regular worshipping life through the remainder of the vacancy. The established pattern of Sunday worship at 10.30am, together with the monthly 5pm extended worship service and Wednesday 8am Morning Prayer, was maintained. This was no small thing. It depended upon the faithfulness and flexibility of clergy, ministry teams, volunteers and congregation alike.
This continuity mattered not only because it preserved the church’s regular pattern of worship and prayer, but because it helped foster a sense of shared vocation during a period of uncertainty. The life of worship at Bow remained recognisably itself, and in some respects emerged from the vacancy with renewed energy: strongly marked by lay participation. A wide range of members contributed to reading, leading intercessions, music, technical support and hospitality. This reflected an important feature of Bow’s life more broadly: it is an active family of faith, committed to God, the community and one another.
Vacancy process and recruitment of a new Rector
The vacancy process was, of course, one of the defining features of 2025. Considerable work had already gone into preparing for the appointment of a new Rector, especially through the production of the Parish Profile, which sought to describe Bow Church honestly and hopefully, and to identify the gifts, experience and character needed for the next phase of leadership. This reflection on identity, key opportunities and challenges came to be an important act of discernment.
The appointment of the present Rector was announced at the Weekend Away in early March, which gave the moment particular warmth and resonance for the church family. Andy and his family then moved from Coventry at the end of May to take up the post. Andy was licensed at a special service at Bow Church on Wed 4 June, an evening which provided a significant point of encouragement and fresh momentum as Bow looked ahead.
Strategic reflection and the clarification of direction
As mentioned, this was a year of reflection and new direction, drawing on the Parish Profile, the life of the church during vacancy, and the direction of travel discussed during the appointment process.
One of the most important developments of the year was the articulation of the Seeking Out framework. Formulated ahead of and affirmed at the PCC Away Day in October, this piece of work gave Bow Church a
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renewed way of describing the life it seeks from God and the life it hopes to embody and share: the abundant life of following Jesus, encountering the Spirit and growing in the Bible.
This language has been helpful because it holds together several dimensions of Bow’s identity. It reflects the church’s evangelical and charismatic inheritance, provides a hospitable and forward-looking framework for the whole congregation, and emphasises that the abundant life of God is not merely a private or inward experience, but something that should flow into the shared life of the church and a world in need beyond. The framework has therefore begun to serve not only as a statement of aspiration but as a way of integrating worship, discipleship, ministry and mission.
Alongside this, Bow Church pursued a teaching series in September and October 2025 called Being Bow Church . The series explored five marks of our common life: Come, Belong, Serve, Give, Grow. This formulation has helped us describe what a healthy, growing church family looks like in practice. It has also provided a useful bridge between vision and operation, helping members understand that flourishing as a church depends not only on what is left to others, but on the active participation of the whole body.
In November 2025, we received an Archdeacon’s visitation. Undertaken by Revd James Hughesdon, Area Dean of Islington, the visitation entailed a considerable effort but helped us to establish much of our operation on a firm footing and was really affirming.
Abundant life flowing out from Bow Church
The Seeking Out framework helps us to see that the abundant life we find in Jesus is not something private or inward, but something that should take visible shape among us and overflow beyond us. The flow of this abundant life does not begin with public events or acts of service, but in the kind of church family we are becoming together.
This was expressed during the year in efforts both to show up and be family and to turn outward in welcome and witness. Within the life of the church, social gatherings, the Weekend Away at Ashburnham, Cedar groups, leadership gatherings and the ordinary shared work of Sundays all helped deepen relationships, strengthen belonging and build a culture in which people could be known. This mattered especially in a year of transition, as Bow Church managed to deepen its sense of home even during a time of shortage.
At the same time, this abundant life also flowed outward into the life of the parish. Bow Church continued to show up in the wider community through major seasonal services and events, especially the Carol Service and Carols at the Bow Bells, through involvement at St Leonard’s, through school connections and through continuing support for Bow Foodbank and other local initiatives.
Following Jesus in the life of Bow Church
Following Jesus is a commitment that we will be people who apprentice the whole of our lives to him, allowing inner allegiance to find outward expression in the way we think, speak and live, and joining his work of healing, justice and reconciliation in the world. During 2025, this was expressed especially through the centrality of Cedar groups as Bow Church’s main discipleship spine, linking sermons, small group discussions and daily readings, to help us practise following in everyday life. The Being Bow Church series also helped make more explicit what ‘whole life following’ might look like for the Bow Church family.
One expression of following Jesus is the simple but significant act of coming along on the journey – showing up in worship, prayer and the shared life of the church. During 2025, Bow Church continued to welcome newcomers and to sustain a visible and inviting Sunday presence through its 10.30am service, monthly extended worship and prayer and seasonal services. Average attendance at our 10.30 service was 51 adults and 3 children in 2025, and, on average, 19 adults at our monthly worship night.
Following Jesus is not only an individual journey but a calling into belonging with his people. At Bow Church, this has found expression particularly through Cedar groups, which have remained a key setting for friendship, prayer, discipleship and mutual encouragement. We attempted some adjustments to the
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operation of our Cedar groups in the autumn of 2025, making changes to boost the visibility, missionality and vitality of our groups.
Following Jesus means joining in his life of serving . 2025 saw Bow Church continue in the shared model of leadership and service which grew up during the vacancy. Members take responsibility for a wider range of practical and ministry tasks (including key-holding, hospitality, music, technical support, slide preparation and the production of the church podcast). This broader participation has been important not only in sustaining church life, but in expressing a vision of the church as a body in which many contribute and responsibility is shared.
Following Jesus also calls for a life of generosity and giving – offering our resources, time and gifts in trust and gratitude to God. During the autumn we held a Giving Sunday which launched an associated giving campaign. Whilst there is much more to do to boost our committed giving, as well as other aspects of our income, the campaign was an important start to a wider conversation.
Finally, a commitment to follow Jesus is a commitment to grow – in faith and in outward fruitfulness. During 2025, Bow Church sought such growth in a range of ways: through discipleship and teaching, through the deepening of community life, and through practical engagement with the needs of others. This included ongoing involvement with Bow Foodbank and Community Gardening, support for London City Mission, and the sending of Dan and Serene Smith with Operation Mobilisation to serve on the Logos Hope.
Encountering the Spirit at Bow Church
To seek the abundant life of God is also to seek a deeper encounter with the Holy Spirit. For Bow Church, this has meant wanting worship to be a place of authentic encounter, in which people can truly be seen, and wanting prayer to be more than a formality – a real expression of trust, expectancy and openness to God’s leading. This reflects a long-standing part of Bow’s evangelical-charismatic inheritance, while also being expressed in a broad and hospitable way.
During 2025, this could be seen in the continued life of the 10.30am service, particularly in its commitment to making prayer in the Spirit something structured into each gathering. This commitment is also seen in the monthly extended worship and prayer gathering - a safe space in which to explore the gifts of the Spirit. These rhythms helped the church remain attentive to God during a year of uncertainty and transition, helping our common life to be shaped by passionate worship and spiritual expectancy.
Alongside these regular rhythms, we chose to begin the new academic year with a Week of Prayer, contributing to this sense of spiritual attentiveness as we moved into the new season after vacancy.
A commitment for Bow Church to Grow in the Bible
To seek the abundant life of God also means growing in the Bible – not only in knowledge, but in understanding, confidence and a shared ability to inhabit the story of scripture. This has been a key part of Bow Church’s mission for some years, and 2025 saw us lean further into this aspiration. During the year we preached through Acts and Galatians, as well as following series on the resurrection appearances, the Downside-Up nature of life in the kingdom, and Christmas as the coming of the Prince of Peace. Alongside this, the ongoing integration of sermons, Cedar discussions and daily readings continued to help scripture shape the common life of the church.
Looking ahead: challenges and opportunities in 2026
As Bow Church entered 2026, it did so with much encouragement, but also with a clear awareness of the challenges that remain. The church continues to face real pressures around financial sustainability, the stewardship of its buildings, and the need for significant external funding if major fabric issues are to be addressed well. It also identified the risk of hidden burden and burnout among wardens, Standing Committee members, staff and key volunteers, especially after a period in which leadership and operational responsibility have had to be carried by a relatively small number of people.
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There are also important pastoral and missional questions ahead. Bow remains a young church both in age and in faith, with high gifting and energy but relatively thin pastoral bandwidth. The church continues to discern how best to deepen ministry among children, youth and families, how to respond well to the openness to faith that is being encountered locally, and how to sustain a culture of welcome, vulnerability and unity-in-diversity while also setting a clear course for the next season. Questions around theological diversity, external partnerships and the future shape of Bow’s wider support and networks will also need to be navigated with wisdom and care.
At the same time, there is real cause for hope. Bow enters this season with a newly appointed Rector, a stronger shared language for discipleship and mission, and an enduringly committed church family, steeped in participation and shared responsibility. The challenge for 2026 is therefore not to start from nothing, but to build faithfully and sustainably on what has been given – holding together worship and witness, discipleship and mission, gathered life and outward-facing love in a way that is fitting for Bow Church in this moment.
Building maintenance
Although funds remain limited, the PCC - with the support of the congregation - have continued to care for the church and churchyard. Larger scale activity is continually reviewed and monitored to assess for future renovation including the nave flooring, upgrading external lighting and improving drainage around the walls of the church.
The church building’s fittings, including internal and external lights, fire extinguishers, internal signage, height safety fixtures, roof alarms, tower lightning conductor and the heating system are maintained on an annual schedule. The church remains a comfortable and welcoming space for worship and other events.
With the appointment of the new Rector in June 2025 it was agreed that some maintenance work would be completed at the Rectory by the Diocese. Alongside this, with the agreement of the PCC, Bow Church covered the cost of decorating the Rectory.
Charity commission guidance and safeguarding
When planning our activities for the year, the PCC have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. The PCC has complied with the duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016, recognising its duty to have due regard to the House of Bishops' guidance on safeguarding children and vulnerable adults. We have progressed to Level 3 of the London Diocese's safeguarding dashboard and are using it to monitor our activities and progress to create a safer Church.
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GOVERNANCE AND MANAGEMENT
Ministry Team
Whilst the church was in vacancy the Church Wardens (Peter Nicholls & Chrystabel Austin) with the support of Deputy Warden (Beatrix Brown) oversaw the ministry team, Becky Green (Operations Manager), Esther Martin (Administrator) and Andy Rider (Assistant Curate). Esther Martin left her role in May 2025 & Becky Green left her role in September 2025. Andy Clasper was licensed in June 2025 and to support him Phoebe Dill joined the ministry team as Church Coordinator in Oct 2025.
The Parochial Church Council (PCC)
The PCC is responsible for working with the Incumbent to promote the mission of the church and specifically to:
-
consult on matters of general concern to the parish and oversee the church’s relationship with the deanery and diocese;
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cooperate in promoting the whole mission of the church: pastoral, evangelistic, social and ecumenical;
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manage the maintenance and repair of the church and churchyard;
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oversee general expenditure;
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as Trustees, fulfil various responsibilities under charity law.
It meets once every other month and members are appointed according to the procedures in the Church Representation Rules. Anyone on the electoral roll can nominate candidates and the PCC and Churchwardens are then elected at the Annual Parochial Church Meeting (APCM).
Standing Committee
The Standing Committee is a statutory body of the PCC and is responsible for conducting its business between meetings. Meetings take place every month and members include the Incumbent, Treasurer, Secretary and Warden. The Standing Committee is able to approve expenditure up to £1,000.
Tower Hamlets Deanery Synod
Each parish in Tower Hamlets sends representatives to Synod and our representative for 2025 was Paul Selvendran.
Continuing the strong collaborative pattern that is now well established across our Deanery, 2025 has again seen the House of Prayer for East London sustain regular Wednesday evening worship and prayer room gatherings, alongside ongoing opportunities for joint prayer walking across Tower Hamlets.
The shared commitment to serving schools and engaging young people has remained a clear priority, with the Youth Van continuing to visit local estates in partnership with a number of churches, supporting outreach and relationship-building across our communities. The deanery website, towerhamlets.church, continues to serve as an important shared communications platform, helping to publicise events, celebrate mission, and keep residents informed.
Alongside these ongoing ministries, this year has also been marked by a period of transition across the Diocese and wider church. Clergy movements, vacancies within Tower Hamlets parishes, and the forthcoming appointment processes for key episcopal roles have brought both challenge and opportunity, underlining the importance of clear communication, mutual support, and prayerful discernment. Archdeacon Peter and colleagues continue to work closely with Area Deans to offer encouragement and practical support to parishes during this time.
There has also been a renewed focus on strengthening compassionate communities, with churches encouraged to share local initiatives through the deanery website and to deepen engagement with neighbours of different backgrounds, including our Bengali communities, as well as with local police and interfaith partners. Environmental stewardship has continued to develop through the work of the Stepney Area Creation Care Group, supporting parishes in areas such as Eco Church and Net Carbon Zero.
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Collaborative youth activity has remained a highlight, building on the success of shared summer events, while further consultation is underway to shape future provision. Support is also being offered to parishes in areas such as finance, stewardship, and administration through diocesan resources. Across all of this, the deanery continues to value opportunities to gather, share learning, and support one another, with a strong encouragement for parishes to remain connected and to contribute actively to our shared life and mission.
Human Resources group
We also have a dedicated Human Resources (HR) group. The group - made up of trustees - has the purpose to provide independent advice and recommendations to the PCC and Standing Committee on matters of HR. It is responsible for setting and holding Bow Church accountable to our HR policy.
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FINANCIAL PERFORMANCE
Overview
In 2025 the financial position of Bow Church improved through well managed costs. The Ministry team continued to refer to the supporting finance manual as a key document for the running of Bow Church and the continued implementation of the Finance Vision. The PCC, Treasurer & Operations Manager (in post until Sept 2025) used these key documents for reference. A volunteer accountant lent their expertise to support our finance processes.
Continued investment in Bow Church & wider community engagement was a key expenditure in 2025, with ongoing spending on Cedar & a hugely successful Church weekend away. Spending on Church maintenance included repairs to the windows and costs to ensure the Church was operational (including heating and electricity), which continued to be a large part of the expenditure.
The launch of the Bow Church Giving campaign in September was well received & giving in the final quarter of 2025 was an improvement on 2024.
Our Finance Vision
To be a generous and entrepreneurial church whose finances are an act of worship and service to God, each other, Bow and beyond. The financial vision for Bow Church is based on 3 main principles:
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Worship - Money is practical but it’s also deeply theological. What we do with our money is ultimately an act of worship.
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Generosity - Serving the congregation, parish and beyond generously. Generosity and evangelism are deeply interlinked as we seek to share all that we have in word and deed.
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Mutuality - We are what we share.
Generosity Fund
We are committed to generously serving our parish, local community and beyond. One way we can do this is through building relationships and giving financial gifts. Our generosity fund reflects the priorities and values of Bow Church. In 2025 Bow Church continued to support Bow School with a donation of £3,000.
Investments
As of December 2025, the market value of our investments is £360,239. This has accumulated over many years from the sale of property and large donations. We withdrew £20,000 in 2025 to cover for a shortfall of general income. Our investments are held through CCLA and managed mostly by the Diocese of London’s Finance Team; we receive yearly statements.
Reserves policy
The Charities Act requires charities to have a purpose in holding onto money. In line with our vision, we are passionate about ensuring our reserves are used to gain maximum benefit for our parish and community. Our purpose is to meet both the current and future needs of the church, whilst also being prepared for unforeseen emergencies.
We recognise the necessity and importance of having reserves to ensure that Bow Church is able to serve the Church & wider community. It is the policy of our church to have approximately three months’ running costs in reserve. In 2025, applying this policy would mean retaining £37,000 in reserves at year-end. At the 31st December 2025 the general account free reserves (after stripping out investments and the value of fixed assets) stood at a level of £39,706.
This report was approved by the PCC and signed on its behalf by
Trustee Date
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STATEMENT OF FINANCIAL ACTIVITIES
| Income from Note Donations and Legacies 2 Charitable Activities 2 Income from Investments 2 Trading Activities 2 Expenditure: Raising Funds 3 Charitable Activities 3 Net Income before investment (losses) / gains Net (Losses) / Gains on investments Transfers between funds Net income before other recognised gains and losses Gains on revaluation of fixed assets Net movement in funds Funds brought forward Funds carried forward |
Unrestricted (£) 2025 95,079 5,345 12,261 18,323 131,008 1,143 145,066 146,209 (15,201) (11,829) - (27,030) - (27,030) 440,272 413,242 |
Restricted (£) 2025 - - - - - - 2,396 2,396 (2,396) - - (2,396) - (2,396) 1,030,856 1,028,460 |
Total (£): 2025 95,079 5,345 12,261 18,323 131,008 1,143 147,462 148,605 (17,597) (11,829) - (29,426) - (29,426) 1,471,128 1,441,702 |
Total (£) 2024 104,635 6,617 10,684 16,260 |
|---|---|---|---|---|
| 138,196 | ||||
| 1,328 180,971 |
||||
| 182,299 | ||||
| (44,103) 9,444 - (34,659) |
||||
| - | ||||
| (34,659) 1,505,787 |
||||
| 1,471,128 |
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BALANCE SHEET
AS AT 31 DECEMBER 2025
| Note Fixed Assets Tangible Assets 7 Fixed Asset Investments 8 Current Assets Debtors 10 Current Asset Investments 9 Cash at Bank and In hand Creditors (amounts falling due within 1 year) 11 Net Current Assets: Net Assets: Funds: Restricted Funds12 Unrestricted Funds Total funds: |
2025 (£) 1,019,617 7,000 1,026,617 17,618 353,239 46,056 416,913 1,828 415,085 1,441,702 1,028,460 413,242 1,441,702 |
2024 (£) 1,021,844 7,000 |
|---|---|---|
| 1,028,844 | ||
| 16,648 385,068 43,780 |
||
| 445,496 | ||
| 3,212 | ||
| 442,284 | ||
| 1,471,128 | ||
| 1,030,856 440,272 |
||
| 1,471,128 |
This report was approved by the PCC and signed on its behalf by Trustee Date
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NOTES
1. ACCOUNTING POLICIES
Basis of preparation of financial statements
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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) and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011. The Parochial Church Council of St. Mary's and Holy Trinity Bow constitutes a public benefit entity as defined by FRS 102.
The accounts have been prepared in GBP and all amounts have been rounded to the nearest £.
1 - Funds
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund.
2 - Income
Donations and other income are recognised when received and an estimate of income tax recoverable is recognised when the related donations are recognised.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
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3 - Expenditure
Expenditure incurred in the operation of the church is classed as Charitable Activities. Expenditure used to gain income is classed as raising funds.
4 - Investments and Stocks
Investments and stocks are measured at their end of year market value.
5 - Tangible fixed assets and depreciation
Consecrated and beneficed property of any kind is excluded from the accounts by s. 10(2) (a) and (c) of the Charities Act 2011.
All expenditure on consecrated or beneficed buildings and individual items costing under £500 are written off in the year they were incurred.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable.
Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Only items of greater value than £500 are capitalised. Church AV comprises a number of screens and sound equipment. They will be depreciated over 5 years from date of first use. Computers and office equipment are depreciated over 4 years from first use. Church chairs and furnishings are depreciated over 15 years.
6 - Current Assets
Cash at bank and in hand includes cash and short term highly liquid investments. Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provisions for amounts that may prove irrecoverable.
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Notes to the Financial Statements
2. INCOME AND ENDOWMENTS FROM
| 2a - Donations and Legacies Planned Giving Collections at all Services Donations and appeals Tax Recoverable Grants 2b - Charitable Activities Events Fees from weddings 2c - Trading Activities Rental Income 2d - Investments Dividends and interest Total: |
Unrestricted Funds (£) 55,719 1,440 19,771 16,149 2,000 95,079 4,728 617 5,345 18,323 |
Restricted Funds (£) - - - - - - - - - - - - - - |
Totals funds 2025 (£) Total funds 2024 (£) 55,719 59,612 1,440 1,451 19,771 27,526 16,149 14,763 2,000 1,283 95,079104,635 4,728 5,335 617 1,282 |
|---|---|---|---|
| 5,345 6,617 |
|||
| 18,323 16,260 |
|||
| 18,323 | 18,323 16,260 |
||
| 12,261 12,261 131,008 |
12,261 10,684 |
||
| 12,261 10,684 |
|||
| 131,008 138,196 |
In 2025, of total income £131,008 related to unrestricted funds and £0 related to restricted funds. In 2024, of total income £135,913 related to unrestricted funds and £2,283 related to restricted funds.
15
Docusign Envelope ID: AF1459DB-FAC7-8658-8127-B54870B84733
Notes to the Financial Statements
3. EXPENDITURE
3a. Raising Funds Hospitality Total: 3b. Charitable activities Community and Mission Diocesan parish contribution Other clergy costs Fees to the diocese Church running and maintenance expenses Service Development Staffing costs Upkeep of services Accountancy and independent examination Site Development Depreciation Total: Total: |
Unrestricted Funds (£) 1,143 1,143 14,032 57,000 313 635 25,064 1,035 41,975 490 2,187 108 2,227 145,066 146,209 |
Restricted Funds (£) - - - - - - - 1,476 - 920 - - - 2,396 2,396 |
Total (£) Total (£) 2025 2024 1,143 1,328 1,143 1,328 2024 2024 14,032 13,663 57,000 51,000 313 1,148 635 299 25,064 30,737 2,511 4,412 41,975 73,029 1,410 1,422 2,187 1,860 108 464 2,227 2,937 147,642 180,971 148,605 182,299 |
|---|---|---|---|
| 4. NET INCOME BEFORE GAINS: 2025 (£) |
2024 (£) | ||
| This is stated after charging: | |||
| Examiners remuneration 2,187 |
1,860 | ||
| Depreciation 2,227 |
2,937 |
5. STAFF COSTS
During the year the PCC employed on average 2 people equivalent to 1 FTE (2024, 2 people, 1.8 FTE). These included a full time operations manager and part time administrator.
No employee earned in excess of £60,000 in the year. The aggregate staff costs during the year, included in the above figures are as follows:
| 2025 (£) | 2024 (£) |
|
|---|---|---|
| Wages and Salaries |
40,720 | 67,657 |
| Pension Contributions |
1,255 | 3,606 |
| Total |
41,975 | 71,263 |
The trustees consider that they constituted Key Management Personnel during the year. No trustee received remuneration in connection to their role as trustee.
16
Docusign Envelope ID: AF1459DB-FAC7-8658-8127-B54870B84733
6. RELATED PARTY TRANSACTIONS
Total donations by 18 PCC Members in the year ended December 2025 were £37,836 excluding gift aid (2024 - £33,555)
Expenses were reimbursed to 4 members of the PCC (2024 - 3 members) in respect of travel, buying service & church equipment, refreshments and sundry other items.These were incurred in the normal course of their volunteering and paid duties on behalf of the church and amounted to £1,412 (2024 - £1,151) No trustees received an honorarium (2024 - one trustee - £800) for the work they do for the church which is not within their trustee responsibilities.
There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.
7. TANGIBLE FIXED ASSETS
| 7. TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Freehold Property (£) |
Church Equipment (£): |
Total (£): | |
| Cost or valuation | |||
| At 1 Jan 2025 |
1,006,320 |
35,332 |
1,041,652 |
| Additions |
- |
- |
- |
| Disposals |
- |
- |
- |
| At 31 Dec 2025 |
1,006,320 |
35,332 |
1,041,652 |
| Depreciation: |
|||
| At 1 Jan 2025 |
- |
19,808 |
19,808 |
| Charge for the year | 2,227 |
2,227 | |
| Disposals |
- |
- |
- |
| At 31 Dec 2025 |
- |
22,035 |
22,035 |
| Net Book value: | |||
| At 31 Dec 2025 |
1,006,320 |
13,297 |
1,019,617 |
| At 31 Dec 2024 |
1,006,320 |
15,524 |
1,021,844 |
The freehold land and buildings comprise the Holy Trinity Parish Hall, Morgan Street, London E3. For accounting purposes, the value shown in the financial statements at 31 December 2016 represents the rebuilding insurance value, which the trustees have adopted as the deemed cost.
17
Docusign Envelope ID: AF1459DB-FAC7-8658-8127-B54870B84733
Notes to the Financial Statements
8. FIXED ASSET INVESTMENTS
| CCLA Investments: 9. Current Asset Investments Unlisted Investments CBF Investment Fund 10. Debtors: Gift Aid Claim Prepayments 11. Creditors: Amounts falling due within 1 year Accounts Payable Accruals |
2025 (£) 7,000 2025 (£) 73,808 279,431 353,239 2025 (£) 13,705 3,913 17,618 2025 (£) - 1,828 1,828 |
2024 (£) |
|---|---|---|
| 7,000 | ||
| 2024 (£) 93,808 291,260 |
||
| 385,068 | ||
| 2024 (£) 13,248 3,400 |
||
| 16,648 | ||
| 2024 (£) 390 2,822 |
||
| 3,212 |
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Docusign Envelope ID: AF1459DB-FAC7-8658-8127-B54870B84733
Notes to the Financial Statements
12. STATEMENT OF FUNDS
| Unrestricted Funds: Restricted Funds: Unrestricted Funds: Restricted Funds: |
Balance brought forward at 1 January 2025 (£) Income (£ ) Expenditure (£) Gains/ (Losses) (£) Transfe rs betwee n funds (£) Carried Forward at 31 December 2025 (£) 440,272 131,008 (146,209) (11,829) - 413,242 1,030,856 - (2,396) - -1,028,460 |
|---|---|
| 1,471,128 131,008 (148,605) (11,829) - 1,441,702 |
|
| Balance brought forward at 1 January 2024 (£) Income (£ ) Expenditure (£) Gains/ (Losses) (£) Transfe rs betwee n funds (£) Carried Forward at 31 December 2024 (£) 470,403 135,913 (175,488) 9,444 - 440,272 1,035,384 2,283 (6,811) - - 1,030,856 |
|
| 1,505,787 138,196 (182,299) 9,444 - 1,471,128 |
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Docusign Envelope ID: AF1459DB-FAC7-8658-8127-B54870B84733
| Tangible Fixed Asset fund Cedar Grant Service Development St Leonard’s Windows Other Tangible Fixed Asset fund Cedar Grant Service Development St Leonard’s Windows Other |
Restricted Funds 1-Jan-25 (£) Income (£) Expenditure (£) Gains/ Losses (£) Transfers (£) 31-Dec-25 (£) 1,006,320 - - - - 1,006,320 8,116 - (777) - - 7,339 15,500 - (699) - - 14,801 - - - - - - - - - - 920 - (920) - - - |
|---|---|
| 1,030,856 - (2,396) - - 1,028,460 |
|
| 1-Jan-24 (£) Income (£) Expenditure (£) Gains/ Losses (£) Transfers (£) 31-Dec-24 (£) 1,006,320 - - - - 1,006,320 9,044 - (928) - - 8,116 15,500 - - - - 15,500 - 1,283 (1,283) - - - 2,750 - (2,750) - - - 1,770 1,000 (1,850) - - 920 |
|
| 1,035,384 2,283 (6,811) - - 1,030,856 |
The description of the main restricted funds are as follows:
Fixed Asset fund: Represents the book value of the Holy Trinity Parish Hall, Morgan Street, London E3 Cedar fund: Represents funds given to support Cedar groups Service development: Funds given to explore new ways of worship Organ grant: Funds given for the refurbishment of the Church’s organ St Leonard’s Priory: Funds for developing St Leonard’s Churchyard
20
Docusign Envelope ID: AF1459DB-FAC7-8658-8127-B54870B84733
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Net Assets Between Funds: Tangible Assets Fixed Asset Investments Current Asset Investments Cash at Bank and in hand Debtors Creditors (amounts falling due within 1 year) Net Assets Between Funds: Tangible Assets Fixed Asset Investments Current Asset Investments Cash at Bank and in hand Debtors Creditors (amounts falling due within 1 year) |
Unrestricted Funds (£) 2025 13,297 7,000 353,239 23,916 17,618 (1,828) 413,242 Unrestricted Funds (£) 2024 15,524 7,000 385,068 19,244 16,648 (3,212) 440,272 |
Designated Funds (£) 2025 - - - - - - - Designated Funds (£) 2024 - - - - - - - |
Restricted Funds (£) Total (£) 2025 2025 1,006,320 1,019,617 - 7,000 - 353,239 22,140 46,056 - 17,618 - (1,818) 1,028,460 11,441,702 Restricted Funds (£) Total (£) 2024 2024 1,006,320 1,021,844 - 7,000 - 385,068 24,536 43,780 - 16,648 - (3,212) 1,030,856 1,471,128 |
Total (£) 2025 1,019,617 7,000 353,239 46,056 17,618 (1,818) |
|---|---|---|---|---|
| Total (£) 2024 1,021,844 7,000 385,068 43,780 16,648 (3,212) |
||||
| 1,471,128 |
21
Docusign Envelope ID: AF1459DB-FAC7-8658-8127-B54870B84733
Independent examiner’s report to the Trustees of The Parochial Church Council of St. Mary’s and Holy Trinity Bow
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Richard Hill FCA For and on behalf of Griffin Stone Moscrop & Co 21-27 Lamb’s Conduit Street London WC1N 3GS
Date: 11/5/2026
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