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2025-12-31-accounts

ST MICHAEL & ALL ANGELS LONDON FIELDS

with ST PAUL’S HAGGERSTON

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDING 31 DECEMBER 2025

Registered Charity Number 1130974

CONTENTS:

CONTENTS:
Page
Administrative details of the Charity, its 1
Trustees and Advisers:
Trustees’ Report: 2–6
PCC Structure, Governance and Management 2
Review of Activities 3-6
Finances: 7-13
Statement of the PCC's financial responsibilities, 7
Review of financial position and Reserves policy
Independent Examiner's Report 8
Statement of financial activities 9
Balance sheet 10
Notes to the accounts (including accounting policies) 11-13

ADMINISTRATIVE DETAILS OF THE CHARITY

Charity Name: The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels London Fields with St Paul's Haggerston (‘the PCC’)

Registered Charity Number: 1130974

Members of the PCC (Charity Trustees): The members of the PCC who served during the year were:

Chair (ex officio): The Revd Daniel Gerrans, Vicar

Churchwardens (elected for one year at the Annual Meeting of Parishioners, and ex officio members of the PCC provided they are actual communicants whose names are on the electoral roll of the parish): Jimmy Asakes and Lily Ejeka (until 1.7.24); Rebecca Marques and Devon Stewart (from 17.3.24).

Lay members of Hackney Deanery Synod (elected for terms of 3 years, and ex officio members of the PCC provided their names are on the electoral roll of the parish): Savitri Maitreyi Maria Hensman, Garofina Voichita Morton and Christina Richardson.

Elected representatives of the laity (elected for terms of 3 years on a rotation basis, one third retiring and being elected each year): Jimmy Asakes (from 17.3.24), Elizabeth Bower, Lily Ejeka (from 17.3.24), Patricia Fraser (until 22.9.24), Maggie Hamand LLM, Matthew Marques (Treasurer), Godwin Ogholo, William F O’Loughlin, Claudia Russell-Banahan, Cathie M Smith, Devon Stewart (until his election as Churchwarden as noted above) and Katrina Stewart.

Church address:

Lansdowne Drive, London E8 3ER

Correspondence address:

The Vicarage, 97 Lavender Grove, London E8 3LR

Independent Examiner:

Rev John Irwin FCA AMCT Chartered Accountant

Bankers:

2

National Westminster Bank plc Reliance Bank Limited

Cover Idmage: Angels and Shepherds, by local artists Fiona Eastwood and daughter Primrose aged 8, with homage to the mural in St Michael’s Church by John Hayward (1929–2007)

TRUSTEES’ REPORT

The PCC presents its Report and Accounts for the year ended 31 December 2025.

St Michael & All Angels London Fields with St Paul’s Haggerston (‘the Parish’) is the Church of England (Anglican) Parish Church for London Fields, Hackney, London E8.

The Accounts have been prepared in accordance with the accounting policies set out on page 11 below and comply with the PCC’s governing documents, applicable laws and the requirements of the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS 102)).

PCC STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

The PCC is governed by two pieces of Church of England legislation, called Measures. These are:

Charitable status, purposes and activities

The PCC is registered with the Charity Commission. Its primary charitable purpose is the advancement of the Christian religion within the parish. Under section 2(2) of the 1956 Measure, as amended, this purpose includes the following functions:

The PCC’s activities include:

1 The full text of the 1956 Measure, before the addition of paragraph (f) by the Church Representation and Ministers Measure 2019 Schedule 2 paragraph

10 (see http://www.legislation.gov.uk/ukcm/2019/1/schedule/2/paragraph/10#schedule-2-paragraph-10-2) is available on the Statute Law Database at http://www.legislation.gov.uk/ukcm/Eliz2/4-5/3/contents.

2 The CRR were replaced by the Church Representation and Ministers Measure 2019 section 1 and Schedule 1 (see http://www.legislation.gov.uk/ukcm/2019/1/section/1). The text of the rules as currently in force is available online at https://www.churchofengland.org/more/policy-and-thinking/church-representation-rules.

3

PCC members are charitable trustees, so all the provisions of charity law apply to their corporate responsibilities, financial management and decision making, as explained in guidance of the General Synod’s Legal Advisory Commission at https://www.churchofengland.org/sites/default/files/2017-12/legal%20position%20of%20pcc%20members%20final.pdf. Its members have complied with their duty to have due regard to the Commission’s public benefit guidance[3] when exercising any powers or duties to which the guidance is relevant.

3 Comprising: Public benefit: the public benefit requirement (PB1): https://www.gov.uk/government/publications/public-benefit-the-public-benefitrequirement-pb1; Public benefit: running a charity (PB2): https://www.gov.uk/government/publications/public-benefit-running-a-charity-pb2; and Public benefit: reporting (PB3): https://www.gov.uk/government/publications/public-benefit-reporting-pb3.

4

REVIEW OF ACTIVITIES

Annual Report for 2026 on the proceedings of the PCC and the activities of

the Parish generally

(as required by Rule M5(1)(b) of the Church Representation Rules)

Mission during the year

The task of furthering in the parish the whole mission of the church, pastoral, evangelistic, social and ecumenical[4] belongs not just to the PCC but to all church members. The PCC’s special function is to provide leadership in order to promote that mission. This Report summarises the main activities undertaken by the PCC to carry out its charitable purposes for the public benefit, and its main achievements.[5]

(1) The proceedings of the PCC

In addition to the church’s core role of offering public worship of, and witness to, God as revealed to humanity in Jesus Christ, in order more effectively to promote in the parish the church’s ‘whole mission’, the PCC periodically identifies specific objectives which are distilled in a Mission Action Plan (MAP) and at each of its full meetings reviews progress in achieving them. In 2024 the PCC formally met 7 times, also conducting some business through Committees. The table below lists the goals set in the current MAP and the progress in achieving them by the end of the year under review.

4 Section 2(2)(a) of the 1956 Measure. 5 As required by Regulation 40 of the Charities (Accounts and Reports) Regulations 2008 (see http://www.legislation.gov.uk/uksi/2008/629/regulation/40/made).

5

As part of its function, the PCC also controls the parish’s financial resources and accounts for its stewardship of them in its annual financial statements, which are presented separately pursuant to Rule M5(1)(c) of the CRR.

Actions achieved or planned during the year under review included, in addition to the MAP goals and actions listed above and the activities listed later in this Report:

(2) The activities of the Parish generally

Public worship

Sunday services were maintained in Church throughout the year and livestreamed for those preferring to remain at home for whatever reason. Some of those unable to connect digitally or attend in person continued to be supported by weekly bulletins delivered to their homes. Services continued to be enriched musically by St Michael’s Singing Group and Choir. Thanks are due, in particular, to David Carr and Maggie Hamand (Licensed Lay Ministers); Mabel Anyiam (Singing Group leader), Jon Hart (Acting Director of Music) and Elizabeth Bower (Organist). Weekday morning Eucharists continued, and online Evening Prayer on Thursdays continued to be open to all.

Pastoral Care, Nurture and Outreach

Overall responsibility for pastoral care lies with the Vicar, who during the year received valuable help and support from (in particular): Godwin Ogholo (Commissioned Pastoral Assistant) and Churchwardens Jimmy Asakes and Lily Ejeka, who stepped down at the 2024 Annual Meeting, having both completed 6 years in post, the maximum permitted term of office, and Rebecca Marques and Devon Stewart, who were elected in their place. Significant areas of pastoral care, nurture and outreach included the following:

6

School Year; at Harvest, with a substantial and generous collection from the school community for Hackney Foodbank; and at the end of the Autumn Term, celebrating Christmas; 

  - iv. Termly Eucharists for each Key Stage;

  - v. An annual Memorial Service for each Key Stage, to support those bereaved or grieving in the school community;

  - vi. A Course on the Christian faith for Year 6 pupils, leading to Confirmation for those wishing it; and

  - vii. The Vicar and 2 other church members serving as Governors during the year.

6 National Church: see https://www.churchofengland.org/safeguarding/policy-and-practice-guidance/templates-and-resources, particularly the Parish Safeguarding Handbook https://www.churchofengland.org/sites/default/files/2019-10/ParishSafeGuardingHandBookAugust2019Web.pdf, the House of - Bishops’ guidance ‘Promoting a Safer Church; Safeguarding Policy Statement’ https://www.churchofengland.org/sites/default/files/2017 12/PromotingSaferChurchWeb.pdf and ‘Safer Recruitment and People Management Guidance’, see https://www.churchofengland.org/safeguarding/safeguarding-e-manual/safer-recruitment-and-people-management-guidance). Diocese of London: see https://safeguarding.london.anglican.org/parish-resources/).

7

London in order to monitor compliance. In addition, following the unnecessarily strip-searching of a 15-year-old girl (anonymised as ‘Child Q’ in the ensuing safeguarding review) by police at a school in Hackney in 2020, representatives of St Michael’s on Hackney Deanery Synod were instrumental in Synod’s decision in April 2024 to commend a Charter for Valuing Children & Young People in Hackney Deanery Churches for adoption by parishes. Intended to reassure parents, caregivers, children and young people by clearly setting out our absolute allegiance to Jesus Christ in his uncompromising care and welcome for all children, the Charter commits parishes adopting it not to allow anyone under 18 to be strip searched on any church premises or at any activities run by - the church. St Michael’s PCC adopted the Charter in June 2024: see https://stmichaelslondonfields.org.uk/wp content/uploads/2024/09/Child-Q-Charter-St-Michaels.pdf.

The PCC records its gratitude to everyone who helped with or supported these activities.

Ecumenical

For the 11[th] year running, during the Week of Prayer for Christian Unity (18-25 January) St Michael’s joined 7 other local churches spread across 5 different denominations, each of which hosted a service on one of the 8 days of the Week. St Michael’s and our neighbours at Hackney Methodist Church in Mare Street also continued our collaboration in response to the Anglican-Methodist Covenant signed in 2003 (https://anglican-methodist.co.uk/covenant-text/), with members of St Michael’s once again joining Hackney Methodist Church for their annual Covenant Service in January and members of Hackney Methodist Church coming to St Michael’s for our Patronal Festival (St Michael & All Angels) in September.

Social, Community and Environmental Engagement

During 2024:

Under St Michael’s Open Church Programme, the church building, which is listed (Grade II) and a beautiful sacred space, was open to visitors and the wider community most Wednesday mornings in furtherance of our mission to be Open to All. During colder months, in response to the impact increased energy costs have had on many in our community, the Church was heated during Open Church sessions in colder weather and promoted as a warm welcome space.[7] The PCC records its gratitude to Lily Ejeka, volunteer steward for Open Church.

(a) St Michael’s Church Hall continues to be an important resource in service of our community. Benefiting from a fully-equipped kitchen, Wifi, a broadband-connected 55” TV screen in the hall, and disabled access and WC facilities for mobility-restricted users, it is a valuable community resource for hire by community groups wishing to operate in London Fields. In addition to our own use of this space, regular users during the year included:

St Michael’s Hall is also used as a polling station and for children’s parties and other social gatherings.

7 Registered on https://www.warmwelcome.uk/#find-a-space

8

Care, maintenance and improvement of the Church Buildings

Repairs and decorations were carried out as needed, as was routine maintenance in accordance with the PCC’s Annual Maintenance Plan. The most important were: (1) various redecorations carried out in January and July-August, including meeting room, link corridor, hall entrance lobby and WCs (total cost £3425); (2) repair of 4 metal sacristy items (£3822, fully funded by an anonymous donation); and (3) plumbing and associated repairs in the bathroom of the Church Flat (£1079.61). Further details are contained in the Churchwardens’ separate Fabric Report prepared under Rule M5(1)(d) of the CRR. The PCC records its gratitude to the Churchwardens for their ongoing work in maintaining the fabric.

The Revd Daniel Gerrans, Chair, for and on behalf of the Parochial Church Council 23 March 2025

9

FINANCES

The Financial Statements of the Council for the year ending on 31 December 2025

Statement of the PCC's financial responsibilities

Charity law requires the PCC to prepare accounts for each financial period which give a true and fair view of the charity's state of affairs at the end the year and of its income and expenditure for the year.

In preparing those accounts, the PCC is required to:

The PCC is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the entity and to enable them to ensure that the accounts comply with the Charities Act 2011 and other relevant legislation. It is also responsible for safeguarding the assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Review of financial position

The results for the year and financial position are set out below. The PCC thanks all who have contributed in any way to church funds, especially those giving regularly through stewardship programmes, which have enabled the Parish to remain financially resilient and in particular to sustain and increase its contribution to the Diocesan Common Fund.

Reserves policy

Reserves are held for the furtherance of the PCC’s charitable objects, including as provision for significant unexpected but necessary expenditure.

Approved by the PCC and signed on its behalf by:

The Revd Daniel Gerrans, Chair, for and on behalf of the Parochial Church Council 23 March 2025

10

ST MICHAEL AND ALL ANGELS LONDON FIELDS with ST PAULS HAGGERSTON Independent Examinerfs reportto the members of Parochial Church Council (PCC) I repcrt on my exam ination of the accounts for the year ended 31 Decembw 2024. Responsbilities and basis of report A5 metnber5 of the PCC ycu are re5pcnsible ts the preparation of the accounts in accordance with the requirem ents of the Ch￿IlleS Act 2011 Ithe Acti. I repcrt in respect of my examination of the accounts carried out Und￿ section 145 of the 2011 Act and in cawying out tny examination I haNe fr)Ilowed all the applicable Direclicfis gI￿n by the Charity Comtni55ion under s￿tIOn 14515llbl of the Act. Indeponthnt Examiner's slatement I ha￿ completed my examinaticn. I con)Inn that no material matters ha￿ come to my attention in connection with the examination giiing m e cause to believe that in any materia respect.. 1. accounting records were nc* kept as required by section 130 of the Act,. 2. the accounts do not acccwd wrth those records. Note 8 proudes detals of the church lal which is managed by the PCC- it has a current ￿luatIOn of £300,000 and has ncl been included on the balance sheet. I ha￿ no Oth￿ concerns and have come across no clher matters in Cc￿nection wth the examinatic￿ lo which attention should be drawn in this report in order to enable a proper Und￿StandIng of the accounts to be reached. Rev John Irwin FCA AMCT Chartered Accountant Dale.. 16 March 2025

ST MICHAEL AND ALL ANGELS LONDON FIELDS with ST PAULS HAGGERSTON STATEIVENT OF FINANCIAL ACTivrriES fortheyearended 31 December 2024 2024 Totsl Funds 2023 Total Funds UnrEStricted Restricted Designated Funds Funds Funds INCOME Donatloni, l•ga¢l•s and grants Church collection Freebwill offenngs Ebnations and gilts Charitable collecbons Grants ￿Ge￿Ed tknnations to restncted funds Income tax re￿nd 7.420 26.500 5.844 7,420 26,500 5,844 5,757 26,447 3,726 1,094 3,499 1,381 2,400 3,781 6,553 8,553 8,043 heractiknryties Rent. Church and hall Flat Fees FetES and e¥Ents Cxher incowe 35.377 16.279 2,125 2.245 525 35,377 16,279 2,125 2,345 525 30,935 18,522 985 2,172 Investm ent incom e Interest and Inc￿age In ￿lue ol fijnd aggets 2.324 4,300 6,824 12,229 Total Sncom Ing r•i•urc•s 106,873 2,400 4,￿0 113,373 113,410 EXPENDITURE London Diocese (Common fund) London Oiocese (Fees) Staff expenses Youth vrtrt< expenses Music and organist Repairs and rEfiJrbishment. Church Flat Garden Insurance and secunty Gas and electricty Water rates Cleaning Consumables Stationery, books and ad￿rtIsing Telephone and Internet Soci31 eNEnts Cxher Administrator Charity and gifts (from general lundsl arity and gifts Total èxpèndlturè Transfer between ￿ndS 53.000 53,000 50,000 450 564 L142 1,383 34 70 676 337 407 676 18,211 2,052 1,858 5,239 3,780 585 3,170 1,467 2,048 651 9,634 1,065 530 5,137 3,746 264 2.052 1.858 5.239 3.780 585 3.17D 1.467 2.048 651 273 909 9.428 1,482 992 1,265 492 20 120 728 155 1,064 9,428 1,537 55 1,850 894 104.154 1.285 105,439 79,922 11.0001 1.519 1,000 PET MOVEMENT IN FUNDS 1.115 5,XJO 7,934 33,488 FUNDS brought fOn￿ard FUNDS carried forward 136.667 5.645 93,tr26 Z35,33B 201,850 138.186 6.760 98,326 243,272 235,338

ST MICHAEL ANDALL ANGELS LONDON FIELDS with ST PAULS HAGGERSTON BALANCE SHEET asat 31 December 2024 Nrte 1124 2023 Current assets Inve5trnenls - Trust Fund 84 228 Current assets Gash at bank 156,427 150,412 DeLo Total current aTrts 158,127 152,112 Creditors.. amrA4nts klling due wItNn one year ,38 1,000 Net current a￿ts 191, 747 151,112 Total net assets 243, 272 235,3&q Funds Unrearicted Funds 138,186 136, 667 Relcted Funds 6, 780 5, 645 Desgnated Fund5 98, 326 93, 026 Total funds 243, 272 235,3&q Thes• a¢¢ounls weré appro*d by the PCC and signèd on ils behalf by The Revd Daniel Gerran$ For the Parochial Church Council Dale.. 23 M arch ￿25

STMICHAELANDALLANGELS LONDON FIELDS with STPAULS HAGGERSTON NOIESTO IHEACCOUNTS Aceryjnling pdicies 1.1 Basis of preparatic Ihe PCC is a Wb1￿ benefjl enlily wilhin the tneaning of FRS102. The financial slaletnenls have been piepaied undei the Chatilies Act 2011 and in accoidance with Ihe Chuich ACc￿￿ting RegJlal¥)ns 2006 petning the indmdual accounts ol PCCS. and wilh Ihe Re￿I81(￿S Iwe and f8iivieW pl(￿ls1(Al8, I(￿lhei￿lth FRS1 I%J16) as the 8ppIic8Ne aCC￿Jn lings18ndaids and the 2016 version of the St8lemenl of ReC￿mended Piaclice. AcC￿￿[lngend Reportlng by Charflks (SORP (FRS10211. Ihe financial staletnenls ale piepaied undei the hisl(wical cost UMvenl(￿. except f(w invesltnents vthich ale sh(wn al tnaikelwdlue. The financial slalements ale piep8red in £slew1ngi￿Jllde￿ k) the nedre81 £ 1.2 Inccfne recognilicn ccffle iepiesents aM￿nIS iecewed fiom Ireewll Offerin￿ church cdleclions and dcmalions. and clhei s￿rceS oflncome Iiom 8￿Cl11C chuich acovllles, whlch ale reC￿l$ed as Id10￿. - Cdectlons and other ￿Ingare re¢(￿ls￿ bthen iecelved: - D(Maffi(Ms and ryanls are rec(wised when received unless a specific pled￿ (K ￿￿tract has been rece￿ed,. - knc(xne tax rec(weiable (￿ Glft lid L8 reC￿lSed ￿1th the rdevanl inc(Nn¢ Funds ral￿d by the lele and similar evenls ale I￿O￿lSed when reCe￿eth - Rental Inc(xne fr(Kn the lent of the church premkesls recWl￿d when the: - knveslmenl galns ￿ l(6ses are rec￿l$edal the year end. 1.3 Empendilure All expens08 are c(msidered as charltable expendilur¢ ￿Ing the C(￿1$ Incurred diieclly and kndlieclly In the delNeiyof its chaiilatAe w[P￿eS. Expenses ate iecwised when the Ilablllly È Incuffed 1.4 Unre51ricled, restricted & designated fijnds Unieslticled funds lepie￿nIthe funds of the PCC which ale n(A subject lo any lest1￿ti(￿S te￿idIng Iheii use and ale aVaila￿e f(w the ￿ne[al W[￿eS dlhe PCC. Resliicled funds ale lo be used specified Pur[￿Se5 as laid by Ihe doncf. Diieclexpendiluie vthich meels these ciileii8 8ie a&91￿ed lo the funth. Deswjaled funds ale unreSt￿le￿ tunds that the PCC has chosen lo al(Lale a s￿C￿led pUw(￿e. Ihese tun may be Un-deSig￿dIed and ieluinedlo Ihe unles11￿1(￿j fund. 1.5 Cash Cash includes cath held al banks in cuiienl and dep￿11 acC￿llts. and fdsh in hand., il is a basic financial asset undei FRS102. Inve51menls Ihe iivesltnenls ale held in sthates in the CBF Chuich of En￿nd knvesknenl Fund which is mana0 by CCLA ale included 81ffiathelv8lue. 14

STMICHAELAND ALLANGELS LONDON FIELDS with STPAULS HAGGERSTON NOTES ID TrIEACCOUNIS Debtors 2024 2023 Income lax iecoveiaLle 1,700 1,700 1,7 1,7 credIt(￿S.. amwnts falling due within oneye 024 2023 Ac(xuals 3,380 3,380 1,0 1,0 Restricted and Designated Funds Res1ticted funts Compl￿e. Grants receNed Giantineo￿ le1￿1ve￿ foi spÉrified putposes has been alkncated to iestricted funds. The PCC giateftAly ackno1￿ed￿S gants le(￿1v￿ duiing1he yeai from Ihe Hackneyparochial Charities (£2,4 received) foi relief of indiwduejs in ne￿120￿3.. £2,&IOI a gant of £1,129 undei the Listed Pkces of Worsh heme foi iepaiis b the bjl1d￿g. Deggnated fundsconwli￿'. Trust Fun d The Trust F￿d compnses the balance ofthe proceeds of the sale ofchuich piemLgessYyld iTr1986 and the use of both capital and income may be used foi any ecclesas1Jcal purpose wthin the paiith, in ￿Col￿ance V•ith rf Paiochial Chuich Council (Po￿￿[S) tbasuie1956. Jhe PCC has adopt￿ a ￿lleY to thsI￿ate the use of the Tiust Fund as follows_ untsl fui1hei le￿lutiOn atmi theie possible_ (il capilal stM)uld be piesetved lil) fuluie mcon ould be iemvested as acciebon to capitsl. and (iiil the Tiust Fund sh(AJld be ￿ed for capital (Thot reven￿) expendibjie which wll make 01 contribute b a lhsbngimpiovementto the church 01 hall. Vltsrage R4alrFund Uniestricted ftJThds Ne tranSf￿red inb a ($i￿ated ftjnd to provide for the ftjbjie iedecoiab'on of the Vicaih£e en needed.

srMICHAELAND ALLANGELSLONDON FIELDS with STPAULS HAGGERSTON NOTES TOTrIEACCOUNTS Net assets &tributaile to the funds unreSts￿led Reslrtcd FuThJs Funds De&￿ated Funds Total Fun Flxed assets knveslments Cuiienl 88.526 88,$26 139.866 1,700 141,566 6.760. 9.1300 156,426 1,700 98.326 246,652 Debkns 6.760 Cuiienl liabilities (3,380) I3,￿0) Nel assets ieprestnled by fuThls 138.186 6.760 98.326 243,272 Sumrn¥yoffunds Uniestiicled Restrled MnL8teis- D￿re1k)narY Gr8nl Desgwled - Tiusl Fund Deggmled -Vic￿a￿ Repaii Fund 138.186 6,760 &8,&6 9,lJ)O 243,272 Benefits in kind to cornrnunity gr￿pS Durlng the year Si Mch&Lg has all(TrNed cerlan communlty to use thurch and hall g)ace flee of chai These gioups incbjded Ihe 81h Ha￿[sI(￿ Rainbows Brovthies and Gudes Had ienl been chaigEd al the normal tales11isw(xJld Imve amund lo £4,000 (2024- £10001 Related pwty tr￿saCti¢]nS Iheie weie no ielaled paily transaclons duiing1he yeai, 10 OtherAssets Churth flat Ihe Ffc unthil&kes the Ma￿￿11nI of Ihe fkl and has1he benefi1 of Ihe ienld incune, ￿ flal pwl of1he p[em￿S and like1he iesl of the buihjing ills ovthed by the London Diacesan Fund The ienlal fi(xn flat is iec(wised as i￿rNme￿hen il becomesdue. The balance sheel doesnol I￿lUde a value for the flat11 Isvalued al E300,[￿OI2022 - ￿)0,0(M)I 16

ST MICHAEL AND ALL ANGELS LONDON FIELDS with ST PAULS HAGGERSTON

Independent Examiner's report to the members of Parochial Church Council (PCC)

I report on my examination of the accounts for the year ended 31 December 2025.

Responsibilities and basis of report

As members of the PCC 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 accounts carried out under section 145 of the 2011 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

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:

  1. accounting records were not kept as required by section 130 of the Act; or

  2. the accounts do not accord with those records.

These accounts are presented to the nearest pound. As a result there are some rounding differences that are not material but would take a disproportionate amount of tiime to resolve because of the way that the accounts crossreference

Note 8 provides details of the church flat which is managed by the PCC; it has a current valuation of £300,000 and has not been included on the balance sheet.

I have no other 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.

Rev John Irwin FCA AMCT Chartered Accountant

Date: 19 April 2026

ST MICHAEL AND ALL ANGELS LONDON FIELDS with ST PAULS HAGGERSTON STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2025

----- Start of picture text -----
2025 2024
Unrestricted Restricted Designated Total Total
Funds Funds Funds Funds Funds
£ £ £ £ £
INCOME
Donations, legacies and grants
Church collection 6,483 6,483 7,420
Freewill offerings 32,400 32,400 26,500
Donations and gifts 5,503 3,270 8,773 5,844
Charitable collections 361 361 -
Grants received - 16,600 16,600 3,781
Income tax refund - 6,553
Other activities
Rent:
Church and hall 31,212 31,212 35,377
Flat 19,028 19,028 16,279
Fees 1,352 1,352 2,125
Fetes and events 2,058 2,058 2,345
Other income 1,000 1,000 525
Investment income
Interest and increase in value of fund assets 4,244 (1,033) 3,211 6,624
Total incoming resources 103,642 19,870 (1,033) 122,479 113,373
EXPENDITURE
London Diocese (Common fund) 56,000 56,000 53,000
London Diocese (Fees) 578 578 1,121
Staff expenses 16 16 34
Youth work expenses 480 5,077 5,557 407
Music and organist 721 721 676
Repairs and refurbishment:
Church 7,651 7,651 16,211
Flat 989 989 2,052
Garden 1,206 1,206 1,858
- -
Vicarage
Insurance and security 5,337 5,337 5,239
Gas and electricity 4,006 4,006 3,780
Water rates 1,025 1,025 585
Cleaning 4,823 4,823 3,170
Consumables 1,158 1,158 1,467
Stationery, books and advertising 807 807 2,048
Telephone and internet 910 910 651
Social events - 872 872 1,111
Other 820 324 1,143 1,064
Administrator 11,707 11,707 9,428
Charity and gifts (from general funds) 2,882 641 3,523 1,537
Charity and gifts 361 361 -
Net Zero - 3,876 3,876 -
Total expenditure 101,479 10,790 0 112,268 105,439
Transfer between funds (2,807) 1,807 1,000 - -
NET MOVEMENT IN FUNDS (644) 10,887 (33) 10,211 7,934
FUNDS brought forward 138,186 6,760 98,326 243,272 235,338
FUNDS carried forward 137,542 17,647 98,293 253,483 243,272
----- End of picture text -----

ST MICHAEL AND ALL ANGELS LONDON FIELDS with ST PAULS HAGGERSTON

BALANCE SHEET as at 31 December 2025

----- Start of picture text -----
Note 2025 2024
£ £
Current assets
Investments - Trust Fund 2 87,492 84,226
Current assets
Cash at bank 166,196 150,412
Debtors 3 3,380 1,700
Total current assets 169,576 152,112
Creditors: amounts falling due
within one year 4 (3,585) (2,305)
Net current assets 165,991 149,807
Total net assets 6 253,483 234,033
Funds
Unrestricted Funds 137,542 136,667
Restricted Funds 5 17,647 5,645
Designated Funds 98,293 93,026
Total funds 253,483 235,338
----- End of picture text -----

These accounts were approved by the PCC and signed on its behalf by Matthew Marques, PCC Treasurer

For the Parochial Church Council

Date: 19 April 2026

ST MICHAEL AND ALL ANGELS LONDON FIELDS with ST PAULS HAGGERSTON

NOTES TO THE ACCOUNTS

1 Accounting policies

1.1 Basis of preparation

The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations' 'true and fair view' provisions, together with FRS 102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS 102)).

The financial statements are prepared under the historical cost convention, except for investments which are shown at market value.

The financial statements are prepared in £ sterling rounded to the nearest £.

1.2 Income recognition
Income represents amounts received from freewill offerings, church collections and donations, and other sources of
income from specific church activities, which are recognised as follows:
- Collections and other giving are recognised when received;
- Donations and grants are recognised when received unless a specific pledge or contract has been received;
- Income tax recoverable on Gift Aid is recognised with the relevant income;
- Funds raised by the fete and similar events are recognised when received;
- Rental income from the rent of the church premises is recognised when due;
- Investment gains or losses are recognised at the year end.

1.3 Expenditure All expenses are considered as charitable expenditure, being the costs incurred directly and indirectly in the delivery of its charitable purposes. Expenses are recognised when the liability is incurred.

1.4 Unrestricted, restricted & designated funds Unrestricted funds represent the funds of the PCC which are not subject to any restrictions regarding their use and are available for the general purposes of the PCC.

Restricted funds are to be used for specified purposes as laid down by the donor. Direct expenditure which meets these criteria are assigned to the funds. Designated funds are unrestricted funds that the PCC has chosen to allocate for a specified purpose. These funds may be un-designated and returned to the unrestricted fund.

1.5 Cash

Cash includes cash held at banks in current and deposit accounts, and cash in hand; it is a basic financial asset under FRS102.

2 Investments

The investments are held in shares in the CBF Church of England Investment Fund which is managed by CCLA and are included at market value.

ST MICHAEL AND ALL ANGELS LONDON FIELDS with ST PAULS HAGGERSTON

NOTES TO THE ACCOUNTS

3
Debtors
Income tax recoverable
4
Creditors: amounts falling due within one year
Accruals		 2025
£
3,380
3,380
2025
£
3,585
3,585		 2024
£
1,700
1,700
2024
£
2,305
2,305

5 Restricted and Designated Funds

Restricted funds comprise:

Donations
Grants
Total income
Youth worker fees
Charity and gifts
Social events
Net zero project
Other
Transfers
Balance at 1 January 2025
Balance at 31 December 2025		 Youth worker
Net Zero
MDG
Total
3,270
3,270
14,200
2,400
16,600
3,270
14,200
2,400
19,870
5,077
5,077
641
641
872
872
3,876
3,876
324
324
5,077
3,876
1,837
10,790
1,807
-
-
1,807
-
-
6,760
6,760
-
£10,324
£7,323
£17,647

Grants received

Grant income received for specified purposes has been allocated to restricted funds. The PCC gratefully acknowledges grants received during the year from the Hackney Parochial Charities (£2,400 received) for relief of individuals in need (2024: £2,400).

Designated funds comprise:

Trust Fund

The Trust Fund comprises the balance of the proceeds of the sale of church premises sold in 1986 and the use of both capital and income may be used for any ecclesiastical purpose within the parish, in accordance with the Parochial Church Council (Powers) Measure 1956. The PCC has adopted a policy to designate the use of the Trust Fund as follows: until further resolution and where possible: (i) capital should be preserved; (ii) future income should be reinvested as an accretion to capital; and (iii) the Trust Fund should be used for capital (not revenue) expenditure which will make or contribute to a lasting improvement to the church or hall.

As at 31 December 2025 the Trust Fund was valued at £87,492 (2024: £88,825)

Vicarage Repair Fund

Unrestricted funds are transferred into a designated fund to provide for the future redecoration of the Vicarage when needed.

ST MICHAEL AND ALL ANGELS LONDON FIELDS with ST PAULS HAGGERSTON

NOTES TO THE ACCOUNTS

6 Net assets attributable to the funds

Fixed assets
Investments
Current Assets
Cash
Debtors
Current liabilities
Net assets represented by funds
Summary of funds
Unrestricted
Restricted Ministers - Discretionary Grant
Restricted - Net Zero Project
Restricted - Youth Worker
Designated - Trust Fund
Designated - Vicarage Repair Fund		 Unrestricted
Restricted
Designated
Total
Funds
Funds
Funds
Funds
£
£
£
£
-
-
87,492
87,492
137,749
17,647
10,800
166,196
3,380
-
-
3,380
141,129
17,647
98,292
257,068
(3,585)
(3,585)
137,544
17,647
98,292
253,483
£
137,544
7,323
10,324
-
87,492
10,800
253,483

8 Benefits in kind to community groups

During the year St Michaels has allowed certain community groups to use church and hall space free of charge. These groups included The 8th Haggerston Rainbows, Brownies and Guides. Had rent been charged at the normal rates this would have amounted to £4,000 (2024 - £3,000).

9 Related party transactions

There were no related party transactions during the year.

10 Other Assets

Church flat

The PCC undertakes the management of the flat and has the benefit of the rental income. The flat is part of the premises and like the rest of the building it is owned by the London Diocesan Fund.

The rental from the flat is recognised as income when it becomes due.

The balance sheet does not include a value for the flat. It is valued at £300,000 (2024 - £300,000).