CharSty 1131311 THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 20ZS P8ge 1
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE ADMINISTRATNE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2025 ADDRESS: St &rlde's Church Fleet Street London EC4Y 8AU CHARITV NUMBER: 1131311 RECTOR & CHAIRMAN: The Revd Canon Dr Allson Joyce INDEPENDENT AUDITOR: Fleld Sulllvan Llmlted Chartered Accountsnts 9 Hare & Blllet Road London SE3 ORB BANKERS: Lloyds Bank 70-71 Cheapslde London EC2V 6EN Page 2
THE PAROCHIAL CHURCH COUNCIL OF BRIDE ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 STRUCTURE, GOVERNANCE & MANAGEMENT Alms, Objects and Prindpal Actlvltles Thè Parochial Church Council of St Bride (the PCCI has the responslbility of co-operating wlth ihe incumbent In promotlng in the ecclesiastical parish the whole mis5Ion of the church.. pastoral, evangelistic, social and ecumenical. The PCC is corporate body establlshed by the Church of En8land. The PCC operates under the Parochial Church Council Powers Measure and is a registered charlty no. 1131311. PCC rnembers are responslble for maklng decislons on all matters of genèral concern and importance to ihe parlsh. Including decidin8 on how the funds of the PCC are to be spent. The Trustees have had due regard tts the Charity Commission's 8uSdance under Charities Act 2011 on public beneflt when conslderln8 the Charlty's objectlves and activltles. St Bride's Church provldes public benefit by offering a hS8h standard of publlc worship and by provSdin8 an open, ac¢esslble and welcomln8 Clty centre resource for a number of ditterent ¢ommunltles. Detalls of the church'5 varlous events and activltles. sacred and seculai, Can be found on pages 4- 7. Trustees, Trust Appolntment, TrusteeTralnln8 & Remuneratlon Poll¢y The PCC met six tlmes durSng the year. The Rector, Assoclate PrSests and Churchwardens are ex-offlclo Trustees, a5 are the Deanery Synod Repre5entatlves, provlding the PCC with an Important Ilnk between the par55h and the wider structure5 of the church. Churchwirdens are elected on an annual basls, Usual up to an agreed maxlmum of four years, although this limlt was suspended by an APCM resolution in 2021 to allow extenslons of offlce where expedlent. A lurther fifteen members are elected, and serve a term of three years, A maximum of two consecutive terms may be served. The following members and officials were elected and appolnted at the Annual Parochial Church Meeting held on Ilth May 202S and elected or co-opted at subsequent meetings of the Councll. R•ttor & Chairman: Asso¢late Prlests.. ChuKhw•rd•ns: The Revd Canon Dr Allson joyce 1+1 The Revd Dr jeff Lake, The Revd Steven Morr15 Nicholas 8aldock Ireslgned Ilth May 20251, Valerle Locks 1+1, Lesley- Ann lones, Graham Hlll 1+1 & Alasdalr Johnstone lappolnted Ilth May 20251 Davld Rl¢hards S•ttei•ry: The Trustèes have delegated day-to day managernent of the charlty to Jarne5 Irvln8, who Is consldered to hold a senlor mBna8ement personnel role. The Trustee5 use the market medlan In the charlty sector as a rule of thumb for settlng salarle5,' however, some flexibility 55 applled to take Into conslderatlon the speclfic requirement5 of each post and to ensure that the best candldate posslble Is recruited. Deanery Synod Rapre5entatlves: Jenny Kin8sley, Terence Smlth & Justln Urquhart-stewart Elected Members: 2023-2026.. Edward Bow5her 1+1, Slmon Greaves & jonathan McEvoy 2024- 2027.. John Forrest 1+1, DominSc McGinley & Jane Wllkln50n 2025- 2028., Gavin Conn. Ashley Palnter, Everarda Slabbekoorn & Vlrglnla Urquhart-stewart Nonvmember. Davld Lowi5h (Treasurer) 1+1 Oenotes membership of the PCC Standing Committee, whlch meets six times a year and os requbred. Ele¢toral Roll: The Church'5 Electoral Roll stood at 192 on 1st january and 145 on 31st December 2025. Almost all electoral member5 are resident outside the parlsh. Page 3
ThE PAROCHIAL CHURCH COUNCIL OF BRIDE ANNUAL REPORT FOR THE YEAR ENDED YI DECEMBER 2025 ACHIEVEMENTS& PERFORMANCE The PCC set the followlng obleetives for 2025.. Agree contracts for the stonework and roof project and diarise the woth,. o Set up fabrlc and steward5hlp sub-committees; Obtain quotes for the organ refurbishment prolett, and investl8ate fund-ralsln8 opportunltles: Consolidate and develop our links with lournallsm and the medla,. Contlnue to raise our proflle throu8h our Presen on all forms of new medla,. Dellvèr plans to further re-develop the crypt space,. and Contlnue to WO toward5 the creatlon of a Muslc Foundatlon, to support the provlslon of muslc at St brlde's. Progress was made In the projects listed above- i. Contracts for the stonewurk and roof prolect were slBned and work be8an at the end of August 2025. In addltSon to 8ranl from the Clty Churches Grants Committee. and applicatlon to the Natlonal Lottery Herltage Fund had also been successful, and the work was therefore fully funded. 11. A stewardshlp commlttee was set up and met on three occaslons durlng the year. 111. Our organ consultant revlewed and updated the speclflcation of works requlied to refurblsh the orBan. Fundralslng for th15 prolect would be ¢onsldered by the fabrlc sutscommlttee lo be set up In 2026. Sv. Work wlth the media contlnued in numerous forrn5 throu8houl the year Isee Medla Llnk5 on page 51. v. Substantlal progress wa5 made on the redevelopment and refurbSshment of the crypt.. work on the maln crypt chapel neared cornplellon, and Included the tommlsslonin8 01 a new Icon dedlcaled to St Brl8ld, the church's patron salnt. The major task completed was the creatlon, deslgn and Inst8llatlon of a new 40ft tlmellne, chartln8 the entire hlstory of the St Bride's slle from pre-Roman 1Srnes, and now the central feature of the museurn space. vl. St 8rlde's proflle on varlous medla platforms ¢ontlnued to flovrlsh due to the professlonallsm and dedlcatlon of the Dlgltal Communlcatlons manager. AcllviTIE5 In addltlon to the Pcc's Stated oblectlve5, the followln8 actlvltle5 took place.. Personal Commltment The PCC Is extremely grateful to all who support flnanclally the church. Glvlng by PCC member5 decreased from £19,137 in 2024to £18,402 in 2025. Commerrlal Support The Church Rates scheme had been reinstated In 2022, although donatlons were inted at whatever level the companies were prepared to make rather than, a5 in previou5 years, based on thelr rateable values,. the resultant income of £21,020 compared to the previous yearf5 total of £21.549. Natlonal media groups comblned to fund the c05t5 of the annual Journalists Commemorative Service15ee overl. P8ge 4
THE PAROCHIAL CHURCH COUNCIL OF 5T BRIDE ANNUAI REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Medla Unks Several services were held for journalists and medla executlves, includin8 BrSan Freemantle, Kim SènBupta, Bill Newman, Peter Fowler, Gwen Roblnson, 6arry Mcllhenenyi Andrew Norfolk, Martin Wlndrow, Jonathan Miller. Jane Reed and Michael Charlton. Our annual servlce of Commemoration for lournallsts- entltled Confllrt & Callln8- was held on Ilth November and featured an Address from James Waterhouse, Ukralne Correspondent for BBC News. A special service- Truth under Fire- took place on 26th February to mark the thlrd anniversary of the start of the Russla-ukralne confllct. Names of those journalists and support staff who have died, been captured or gone mlssing are regularly added to the Journallsts, Chapel, whlch recelves rnany vlsitors from across the world, and are remembered through our soclal medla presence. The Head of Finance was Invited to105n the steerln8 group of 'On the Record,, an inltiative to create 3 permanent memorial to 8rltlsh & UK-based journalists at the Natlonal Memorlal Arboretum, and the Rector was Invited to loln Women In lournallsm, supportlng female lournali5t5 In the UK to reach thelr full potentlal. Charlotte Galea became the 15th reclplent of ihe Gulld of St Brlde bursary, an annual award to a postgraduate student studyin8 for a Master5 In elther Soclal & Dl8ltal Journallsm or Newspaper journalism at Clty UnlveisSty, consolldatln6 the Ilnks between St Brlde's and the lournallstlc communlty. aty Llvery Llnks The church has contlnued to work closely wlth the four Livery Companies wlth whlch It has close Ilnks- Statloner5 & Newspaper Maker5, Marketofs, Turner5 and Spectacle Makers- three of whom held thelr annual service at St Brlde's,. the other partl¢lpated in the Comrnunl¢atlons Industry carol servlce. The MarketOf5 relnstated Its St Brlde's worklng group and some stron8 Inltlatlves have borne frult. The Rector contlnued to Interact wlth the Llvery Companles, taklng parl In number of formal and 50clal events. Musl¢ St Brlde's professional cholr of 12 adult slngers performed at two Sunday servlces every week except durln8 Au8USt and on low 5unday5, plus on the major Feast Days and at a host of speclal 5ervlces- weddings, mernorSals, thanksglvSng5, funera15 and carol servlces- predornlnantly at St Brlde's but occasionally at external venues. Sl Brlde's Orchestra augmented the cholr at s18nlficant sÈrvlces such as that on Remembrance Sunday. Concerts for mu5Ical groups such as JAM, Vasari Slngers and Selwyn College cholr were held durln8 the year. The recitals series proved more popular than ever, wlth two live performances a week. Other Events st Bride's hosted two hlgh-proflle lectures in the second half tsf the year.. The Tom Olsen Lecture- Entrepreneurs: is the UK still a great place to start a buslnessP- delivered by Luke johnson, entrepreneur and journa115t,' and The Wren Talk- Intervention5 in Hlstory- by Clare and Sandy Wrlght, award-wlnninB orchitect5. Page 5
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Sunday Club A small, dedlcated group of DBS-checked congre8ation member5 runs a Sunclay Club that Is held sn the crypt during the 11am Eucharlst on Sundays durin8 term tlme. This team creates a safe, nurturing and fun space for our younger members. The children learn about our faith through a mlx of activlties, craft5, games and prayer prlmarily centred around the Blble readin85 of the mornin8's service. Occasionally, the focus will be on the history of st Bride'5 and the surroundlng area. The volunteers bring thelr individual skills and abllltles to the role and endeavour to provlde a stlmulatln& enga8ln8 and varlèd learnln8 experlence. The Sunday Club team welcomes new volunteers and new Ideas. Safe8uardln8 The PCC has appolnted Indlvlduals to the requlslte roles and continues to abide by Its Safeguardln8 Pollcy. In thls respect, the PCC Is fully Compliant with Dlocesan requbrements. Fundra151ng A further interlm payment of £120,000 of the £920.OW le8acy notlfled in 2024 was eventually recelved In December 2025. wlth a final c£lO,OCM) due n early 2026. The PCC had desl8nated £750,000 of thls legacy towards the prolect of Stonework and roof repalrs. Another legacy of £148,OCXJ was re¢elved In March 2025, and Trustees a8reed that thls would be used prlmarlly to fund the purchase of a new plano and to contSnue the re-development of the crypt. In 2025, 34% of the church's unrestrlcted expendlture of £843,849 was ralsed through servbces, events and actlvltles12024'. 28%), 22% through grants from St 8rlde's Charlty and external trusts12024.' 28%), 36% through personal glvln8 Ilncludln8 leBaclesl12024.. 36%), and 8% In corporate donation$12024.' 9%). The malorlty of personal givlng 5s usually recelved through collectlons Ica5h and contactlessl at seTvlces and regular rnonthly or quarterly contributlons. In addltlon, sundry donatlons can be made on slte, or onllne vla Ju5tGlvln& by those who attend recltals or slmply vlslt the church and crypts. Gift Aid is ieclalmed on as many ellglble donatbons a5 posslble. We do not use thlrd party suppllers to asslst U5 Wlth our fundralsin8. The charlty has not voluntarily subscribed to anv fundraising standards or schemes for fundra15ing regulatlon. There have been no complaints to the charlty regardlng fundraSsinB. The charlty is mlndful of the need to protect vulnerable people and other members of the publlc from anv unreasonable intruslon on thelr prlvacy, such as belnB unreasonably perslstent or placln8 undue pressure on a peison to Ive money or other propertv. FINANCIAL REVIEW Most Income stream5 had returned to pre-COVID levels, but some had proved dlfflcult, If not lrnposslble. to restore. In addltion, utillty, employment and othèr costs continued to rlse substantlèlly. Initlatlves Introduced after the flnance group's report in 2024 had slgnincantly reduced the church's Structural deficlt. but pre55ure5 remained. The PCC reported net income for the year of £41,09812024.' £801,7201. Re5er¥es Poll The PCC'S resèrves policy 15 'to hold at least IO% of the previous year's unrestrlcted income at the end of the year, wilh reserves falllng no lower than 5% at any point durin8 the year, Free reserves as at 31st December 2025 are taken to be the undesignated unrestricted funds of £72,44512024.. £72,508) equatlng to Il% of the prevlous year'5 unrèstrlcted income. Page 6
THE PAROCHIAL CHURCH COUNCIL OF ST BRIOE ANNUAL REPORT FOR THE YEAR ENDED 310ECEMBER 2025 Rlsk Assessment The Trustees have identifled the malor risks in five are35 to whlch the PCC is exposed and have Implemented the followlng systems and controls In order to miti8ate those risks.. 11 Reputational- a Dl81ts1 Communlcatlons manaBer controls our dlBltal and social media content and monltor5 publiclty- 111 Flre- maintenance agreements are In place for our fire, heatin8 and Ilghtin8 Systems,. 1111 Finandal- St Bride's Charity exists specifically to support the work of church and can be called upon In exceptional circumstances,. Iv) Operatlonal- 5ervlce and MaIntenan contracts arè in plate for OUT IT 5YStems, and staff have remote access to the church's network. Regular staff appralsals and meetlnBS occur,. vl Statutory-the Head of Flnance is responsible for Identlfylng and complyln& on the PCC'S behalf, wlth any statutory and governance requlrements. OBJEcfiv£s FOR 2026 AND FUTURE PiAN5 Complete the stonework and roof pTolect.' .Set up fabrlc sub-committee to Set out prlorities for the next 3-S years,. Consolldate and develop our Ilnks wbth lournallsm and the medla,. ocontlnue to focus on fundralsing actlvlties to Increase planned gfvlng and donatlons: Continue to ralse our proflle through our presence on all forms of new medla; pDellver plans to further re-develop the crypt space,. and Work towards the creatlon of a new organ mentor5hlp scheme GOING CONCERPI The Trustees have evaluated the ¢lrcurn5tances In whlch the PCC operates. The PCC Is, in exceptlonol circumstance5 such a5 those that eventuated between 2020 and 2023, able to request further support from St Brlde's Charlty. In additlon to the nnual grant of £150,000. St Brlde's Charlty has a5se15 totallin8 over £3.5 mllllon and exlsts speclftcally to 5UPPOrt the work of St Bride's Church. The Trustees have therefore concluded that thEre are no materlal uncert31ntles that cast doubt on the charlty's ablllty io contlnue as a 80Sn8 concern. RELATED PARTIES & CONNECTED ORGMISATIONS The Rector and Churchwardens are the ex-offlclo Trustees of St Brlde's Charlty and St Brlde Organ Fund. These Trusts support the work of the PCC. DurSnB the year the PCC recelved 8rants totalllng £165,CQQ12024- £222,733) from these Trusts, compri51n8 £150.CKJO in unre5tTlcted grants and £15,000 in secretarial fees on behalf of the PCC. Trustees of St Brlde's Charlty agreed that, from 1st October 2023, they would grant to the pcc ihe sum of not les5 than £150,000 per annum on a monthly basls. Page 7
THE PAROCHIAL CHURCH COUNCILOF ST BRIDE ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 TRUSTEES. RESPON51BIUTIES IN REIATIONTO THE FINANCIAL STATEMEPUS The Trustees are responslble for preparing the Trustees, Report and the financlal statements In attordancè with appllcable law and regulations. Charlty law require5 the Trustees to prepare flnanclal statements for each ftnanclal year In attordance with United Kln8dom Generally Accepted Accounting Prattice Iunited Kingdom Accountlng Standards and appllcable lawl. Under charlty law the Trustees must not approve the finandal statements unless they are 5atlsfled that they Blve a true and fair vlew of the stste of affairs of the charity and of its net IncomlnyJout8oln8 resources for that perlod. In preparln8 these financial statements. the Trustees are requlred to.. * select sultable accotsntlnB pollcSes and then apply them con$15tently: 4 observe the methods and prlnclple5 In the Charltles SORP,. o make judgments and e5tlrnates that are reasonable and prudent. state whether appllcable accountlng standards have been followed, Subject to any materlal departures d15closÈd and explalned In the flnancbal stalements,. prepare the flnanclal statements on the goln8 concern basls unless It Is Inapproprlate to presume that the charlty wlll continue to operate. The frustees are re5pon51ble for keeplnB proper accounting records that are 5ufficlent to show and expl?In the charlty's transactlons and dlsc105e wlth reasonable accuracy at any tlme the flnanclal p051tlon of the charity and enable thern to ensure that the financial Statements comply wlth the Charltles Att 2011. They are a150 responsible for safe8uardin8 the assets of the charlty and hence for takln8 reasonable Steps fof the preventlon and detectlon of fraud and other IrreBularltles. Thls report wa5 approved by the PCC and $18ned on Sts behalf. On behalf of the PCC on ................. The non Dr Allson Joyce Page 8
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE Indendent Auditorfs Report to the Trustees ofThe Parochial Church Counul ol St Bride We have audlted the flnancial statements of The Parochlal Church Coundl of St Bride Ithe'charlty'l for the year ended 31 December 2025, whlch comprlse the Statement of Flnancial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Flnancial Statements, including a summary of signlficant accountlng policies. The financial reportlng framework that has been applied Sn their preparatlon 55 United Kingdom Accounting Standards, Comprising Charitie5 SORP- FRS 102'The Financial Reportlng Starhdard appllcable in the UK and Republic of Ireland, and applicable law Iunlted Kln8dom Generalty ACpted Accounting Practice). In our opinlon the flnancial statements.. glve a true and falr vlew of the state of the charity's affabrs as at 31 December 2025 and of its inctsmlng resource5 and applicatlon of resources, Sncluding lis Income and expenditure, f¢r the year then ended,. have been Properly prepared In accordance with United Klngdom Generally Accepted Accountln8 Pra¢tlce,' ènd have been prepared in accordance wlth Ihe requlrements of the Charltles Art 2011. Baslslor oplnlon We conducted our audlt In accordance wlth Internatlonal Standards on AudltlnB IUKI IISAS IUKII and appllcable law. Our responsibllltles under those standards are further described In the audllor responslbilltles for the audlt of the flnanclal statements 5ectlon of our report. We are Independent of the Charlty In accordance with the ethlcal requlremenls that are relevant to our audlt of the flnanclal statements in the UK, includlng the FRC'S Ethlcal Standard, and we have fulfllled our other ethical responslbllitle5 In accordance wlth these requlrements. We belleve that the audlt evldence we have obtalned Is sufflclent and approprlate to provlde a basls for our oplnS0n. Concluslons r•htlni to g0Sn8 conc•m In audltln8 the flnanclal Statements, we have ncluded that the dlrectors use of the golng Concern basls of accountln8 In the preparatlon of the flnanclal statements Is approprlate. Based OD the work we have performed, we have not Identlfied any materlal uncertalnties relatln8 to events or condltlons that, Indlvldually or collectlvely, may cast s18nlficant doubt on the charlty's abbllty to contlnue as a 8olng concern for a perlod of at least twelve month5 from when the ori8lnal financial statements were authorlsed for issue. Our responslbllltles and the responslbllltles of the dlrertors wlth respect t¢ g0Sng concern are descrlbed In the relevant sertlons of thls report. oihqr Inforniatlon The trustees are responsible for the other Information. The other Informatlon comprlses the Snformatlon included in the annual report, other than the financlal st3ternentS at)d oui audltor's report thereon. Our oplnion on the financial statements does not cover the other Snformailon and, expt to the extent otherwlse explScltly stated In our report, we do not express any form of asSurae conclusion thereon. In connedon with our audit of the finandal statements, our responsibility Is to read the other Informatlon and, in dolng so, conslder whether the other inforrnation is materially inconslstent with the flnancial statements or our knowledge obtalned in the audlt or otherwbse appears to be materially rnisstated. If we identlfy such material inconsi5tencie5 or apparent material misstatements, we are required to determlne whether there Ss a materlal mlsstatement in the finandal statements of a material missiatement of the other information. If, based on the work we have perform. we conclude that theiels a materlal misstatement of thls other information, we are required to report thatfact. We have nothln8 to report in thls re8ard. Pog8 9
ThE PAROCHIAi CHURCH COUNCIL OF ST BRIDE Independent Auditoes Report to thé Trustees ofThe Parochlal Churth Councll of St Brlde Malter5 on whlch we are required to report by eM¢eptlon In the118ht of our knowledBe and understandlng of thè charity and its envlronment obtalned in the tourse of the audlt, we have not identifled material misstatements In the Trustees. Report. We have nothing to report in respect of the followSng rnatters where the Charities Act 2011 requlre5 US to report to you If, in our opinion: adequate accountlng records have not been kept. or returns adequate for our audit have not been recelved from branches not visited by us,. or the flnanclal staternent5 are not In agreement wlth the accountlng records and returns,. or certaln disclosures of dlrectors remuneratlon speclfied by law are not made; or we have not recelved all the Informatlon and explanatlons we requlre for our audlt. R•sponslbSlltles oltruslees A5 explalned more fully In the Statement of trustee5 (set out on page 71, the trustees are responslble for the preparatlon of the flnanclal statements an(i for belng 5atisfled that they 8ive a true and falr vlew, and for such Intwnal control as the trustee5 determlne 15 necessary to enable the preparatlon of finan¢lal statement5 that are free from materlal mlsstatement, whether due to fraud or error. In preparlng the flnandal statements, the trustee5 are responslble for asses51ng the charlty's ablllty to contlnlte as a going eoncern, d15closln& as appllcable, matters related to golng concern and usin8 the golnB concern basls of accounting unless the trustees elther Intend to liquldate the charlty or to cease operatlon5, or have no reallstlc alternatlve but to do so. Audltor re$ponslbllltles for the audlt of the flnanclal statement5 Our oblectlve5 are to obtaln reasonable assurance about whether the finandal statements as a whole are free fiom material mlsstatement, whether due to fraud or error, and to Issue an audltor's report that Includes our oplnlon. Reasonable assurance Is a hlgh level of assurance, but Is not a guarantee that an audlt conducted In accordance wlth ISA5 IUKI wlll always detect a materlal mi55tatement when It exlsts. M155tatements can arise flom fraud or error and are considere(J materlal If, Indlvldually or In the a88re8ate, they could reasonably be expected to Influence the economlc declsion5 of users taken on the basls of these flnanclal statements. The extent to whlch our procedures are capable of detectlng Irre8ularltles, Includln8 fraud is detalled below.. Audlt procedures undertaken In response to the potentlal r15ks relatlng to Irregularltles (which include fraud and non- compliance wlth laws and re8vlatlon51 comprlsed of.. enqulrles of manangement and those charBed wlth governance as to whether the entlty complies with such laws and regulations,. enquirles wlth the same concernin8 any athual or potential litigation or clalms; Inspectlon of relevant legal correspondence; revlew of board minutes,. testlng the approprlatèness of entries in the nomlnal ledger, Including journal entries,. revlewing transactlons around the end of the reportinB period,. and the perforfflan of analytlcal procedures to Identify unexpected movements in account balances which may be indicative of fraud. Pagg 10
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE Independent Audltorfs Report to the Trurt•e5 of The Parochlal Church Councll of St Brld• No Instances of material non-compllance were Identified. However, the likelihood of deterting Irregularlties including fraud, is Ilmlted by the inherent difficulty in detecting Srregularitles, the effectiveness of the entity's controls, and the nature. timing and extent of the audlt procedure5 performed. Irre8ularlties that result from fraud mi8ht be inherently more dlfficult to detect than Irre8ulairlte5 that result from error. As explained above, there is an unavoldable rlsk that material mlsstatements may not be detected. even though the audit has bèen planned and performed In accordan with ISAS IUKI. A further descrlptlon of our responsibllltles is avallable on thè Flnanclal RepoTting Council'5 webslte at: www.fTc.org.uk/audltorsTe5ponslbllitles. Thi5 de5¢rlption forms part of our auditor's report. Use of our report Thls reportls made wlely to the charlty's trustees, as a body, In ac¢ordance wlth Part 4 of the CharStle5 IA¢counts and Reports) Regulatlon 2008. Our audit work has been undertaken so that we ml8ht state to the chaTltVs trustee5 those matters we are requlred to state to them an audltor's report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responslblllty to anyone other than the charlty and Its trustes as a body, for our audlt work, for thls report, or for the oplnlons we have formed. mothy Sulllvan FCA Isenlor StstutOTV Auditor) For and on behalf of Fleld Sullfvan Llmlted, Statutory Auditor Chartered Accountants 9 Hare & Billet Road London, SE3 ORB Date: 2¥ Field Sullivan Llmlted Reglstered In England no. 8024052 Page11
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2025 Totrl Fund$ 2025 Totsl Funds 2024 {Restatedl Restrlcted Funds Deslgnated Funds Unrtstrfcted Fund5 Note Income Donatlons and legacles Charltable actlvttles 366,274 585 573,732 295,263 940,006 295,848 1,384,875 227,802 Totsl Inwne 366,859 868,994 1,235,854 1,612,676 Expendlture Charltable artlvities 350,906 843,849 1,194,755 810,956 Total empendlture 350,906 843,849 1,194,755 810,956 Net In¢omelle¥p•ndltur•l 15,953 25,146 41,098 801.720 Transfers between funds 25,209 125,2091 N•t movement In fund$ 15,953 25,209 {631 41.098 801,720 Reconelllatlon of funds Total fund5 brought forward Totsl fvnds carrled fonvard 810,955 836,164 72,508 72,445 883.46a 924,561 81,743 883.463 14 15,953 Page 12
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE BALANCE SHEFr AS AT 31 DECEMBER 2025 Note 20Z5 2024 {R•5tatedl Flxed assets Tangible assets io 86,164 86,164 60,955 60.955 Current asmts Debtors Cash at bank and In hand Total current assets li 27,293 845,OS4 872,347 153,025 746,635 899.660 Cr•dltors: amounts falllng due wlthln on• year 12 133,9501 177,1521 Net wrr•nt ass•t• 838,397 822,508 Trf•l assets l•ss curr•nt Ilablllt105 924,561 883,463 Net assets 13 924,561 883,463 The funds of th• tharlty: Restrlcled funds Unrestrfcted funds: Deslgnated General fund Total unrestflcted funds 15.953 836,164 72,445 810,955 72,508 908,609 883,463 Total charfty funds 14 924,561 883,463 These financlal statements were approved by the PCC and slgned on its behalf by: Allson Joyce Date: P8go 13
ThE PAROCHIAL CHURCH COUNCIL OF ST BRIDE CASHFLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Reconci15atton of net Incom• to net cashflow from operatSng artl¥ltles Net Income/ lexpendlturel for the reportln8 period Iincreaselldecfease in debtors Increasellde¢rea5el Sn credltors Deprètlaton Flxed asset addltlon 41,098 125,732 143,2021 13,990 139,1991 801,720 1125,7321 62,154 10,070 Net cashflow provlded by operatlng attlvltles 98,419 748,213 Cashflow ststement Net cashflow provlded by operatlng actlvltle5 98,419 748,213 In¢reaselldecreas• lo) ushl 98.419 748,213 Analysls of aslfflmy and ¢h equl¥al•nts 2024 C•$hfigW 2025 Cash In the bank and Sn hand 746,635 98.419 845,054 Pag8 14
THÉ PAROCHIAL CHURCH COUNCIL OF sr BRIDE NOTES TO THE FINANCIALSTATEMENTS AS AT 31 DECEMBER 2025 l Artountin8 pollcle5 The principal accountin8 policies are summar15ed below. The accountln8 policie5 have been applied consistently throughout the year and in the precedin8 year. 111 Basls of preparatlon The accounts (financial statements) have been prepared in accordance with the Charities SORP IFRS1021 applicable to charltites preparln8 their accounts In accordance with FR5102 the Flnanclal Reporting Standard applicable In the UK and Republic of Ireland and the Charlties Act 2011 and UK Generally A¢pted Practlce as it applles from l January 2015. The PCC constitutes a publlc beneflt entlty as deflned by FRS 102. The flnanclal statements are prepared in 5terlln& whSch Is the functlonal currency of the church. Monetary amounts In thls flnanclal statements are rounded to the nearest pound. 1111 Prlor year adjustment Durlng the year to 31 December 2025, It was discovered that a penslon surplus had been recorded a5 creditor rather than a debtor. Consequently, debtors had been underststed and credltors had been overstated In the 2024 financlal statements. The error has been Corrected by restatln8 the compaiatlve fl8ures wlth the effect on the flnanclal ststements Is as follows.. lal Eff•rt on the Flnand•l stalem•nts 2024 la5 reportedl 141,106 191,1511 220,742 1857,5461 Adlustm•nt 2024 las restaiedl 11,919 153,025 13,999 177,1521 125,9181 194,824 125,9181 1883,4641 Debtors Creditor5 Staff costs Reserves 11111 Golns concern The Trustees have evaluated the clrcumstances In whlch the PCC operates. The PCC Is able, Sn exceptlonal circumstsnces such as those that eventuated In 2020-2023, to request further support from Sl Brlde, Charlty, In addltlon to the annual grant of £150,000. St Brlde's Charlty ho5 35sets totallin8 over £3.5m and exsSsts speclflcalty to support the work of St Brlde's Church. The Trustee5 have therefore concluded that there are no material uncertalntles that cast doubt on the charity's ablllty to continue as a going concern. Ilvl Funds UnrestrScted fund5 represent the funds of the PCC that are not subject to any re5trlctlons regardlng thelr use and are avaliable for application on the general purposes of the PCC. Re5trirted funds are those where donors have placed restrictlons on the use of the funds. Desi8nated funds represent al fixed assets In the church that are beinB depre¢lated over tlme: and bl a proportlon of a legacy to cOntribe towards the costs of the Stonework and Roof repali project. The accounts Include all tran5rt1ons, assets and liabTlities for whlch the PCC15 responsible In law. Page 15
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE NOTES TO THE FINANCIAL STATEMENTS ASAT31 DECEMBER 2025 Iv) Income Collectlon5 are recognised when received by or on behalf of the PCC. Planned givin8 receivable under Gift Aid is recognised only when recelved. Incorne tax recoverable on Glft Ald donatlons 55 rrfognised when the income Is recognlsed. Grants to the PCC are accounted for as soon as the amount due Is quantlflable and Its ultlmate recelpt by the PCC15 reasonable probable. Legacles are recogn15ed on the earlier of recelpt of paymenL flnallsatlon of estate accounts or on notlflcatlon by the excecutors that payment wlll be made. Ivll Expendlture Charltable actlvltle5 Include the direct costs of the Church and Its mSsslon as well as Costs Incurred in support of these activtles. Termlnallon costs are recognlsed at the polnt the charSty deem5 there15 a present obll8atlon re5ultlnB In a probable economlc transfer whlch can be rellably measured. Development costs connected to the webslte and any other project are wrltten off as Incurred. Ivlll Flxed Sets ecra ro andm rnl hln Consecrated and beneflced property of an¥ klnd Is excluded from the accounts by s.9612113l of the Charlt5es Act 2011. Moveable church furn15hlngs held by the Rector and Churchwarden5 on 5pecSal trust for the PCC, and whlch requlre a faculty for dlsposal, are accounted as Inallenable property unless con5ecrate(J. The Church furnlture, glfted by the St Brlde's Appeal In 2009, Is being depreclated over the perlod to 2035. in Ice Equlprnent used wlthln the church prernlses Is depredaled at IO% on a stralght-llne basls. Where prudent, Indldvldual item5 of equlpment are wrltten off when the asset is acqulred. Fixed assets costln8 more than £5,000 are capltallsed and Included at cost, includlng any Incldental expenses of acqulsltion. Ivllll Operatln8 leases Rentals appllcable to operating leases where all the benefSts and rlsk5 of ownership remaln wlth Ihe lessor are char8ed a8aln5t the surplus for the year on a stalght-llne basls over the perlod of the lease. Ilxl Debtor5 Short term debtors are measurèd at transaction prlce, less any impairment. Loans receivable are measured initally at fair value, net of transactlon costs, and are measured subsequently at amortlse(i e05t uslng the effertive Interest method, less any impalrment. xl Credltors Short term creditors are measured at the transaction prlce. Other flnancial liabllities, includin8 bank loans, are measured inltally at fair value, net of transactlon ¢05ts, and are measured subsequently at arnortised c05t Usin8 the effectlve Interest method. Page 18
THE PAROCHIAL CHURCH COUNCIL OF 5T BRIDE NOTES TO THE FINANCIAi STATEMEPITS ASAT31 DECEMBER 2025 Ixll Crltleal a¢countlni judgements and key sources of estlmatlon urKertalnty Sources of estlmation uncertainty thot have a slgniflcant effect on the amounts recIlSed in the financlal statements are descrlbed in the accountlng pollcles. No significant accountlng judgements and uncertaintles have been Identlfied for the current year. l Donatlons and le8a¢l•s Totsl fund5 2025 Total lunds 2024 Restrlcted Unrestrlct•d fund5 fund5 Collectlons & Glft Aid donations Income tax recoverable Other donatlons Inote 41 Legades Grants recelved (note 31 Church rate5 Glfts In klnd 9,117 130,675 23,096 69,339 148,OC 181,601 21,020 139,792 23,096 69,339 148,000 538,758 21,020 118,803 21.515 70,027 920,000 229,980 21,549 3,000 357,157 Total 366,274 573,732 940,frJ6 1,384,875 3 Grants T•1¥•d Total Tot•1 RestrSct•d Unr•strfrted fund$ lunds fvnds 2025 funds 2024 Se¢retarlal support to Trust5 St Bride's Charity National Lottery Heritage Fund City Deanery Burial Ground Fund st Brlde Eleemosynary Fund Tom Olsen Trust Clty Churches Grants Committee Djuna Barnes Fund 15,000 150,0 15,000 Iso,000 76,151 1,000 11,533 15,000 204,475 76,151 I,C#)O 11,533 2,500 3.258 281,006 281,OJ6 4,068 4,747 Total 357,157 181.601 538,758 229,980 Page 17
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE NOTES TO THE FINANCIAL STATEMENTS AS AT 31 OECEMBER 2025 4 Otherdonatlons rec•Fv•d Total funds 2025 Total furx15 2024 Restrlrted Unrestrlrted lunds fvnds Harrlet's Trust Worshlpful Company of Marketors New5 UK DMG Medla Unilever Kalzo Associatlon of Mlrror Pensloner5 Guardlan News & Medla Telegraph Medla GfOUP Flnancial Times Reach St3tSoners Foundatlon Golden Bottle Trust Wren Insurance A5soclallon EC4 Muslc Independent Dlgltal News & Medla Evenlng Standard Hlstory In the Maklng Spectacle Makers Soclety Prlvate/anonymou5 25,( 2,650 2.750 2,750 2,TrJO 25.CQ) 2,650 2,750 2,750 2.CX)O 5,621 2.750 2,750 2,C¥)O 1,750 I,soo 1,250 1,250 1,250 1,250 1,500 1,250 1.250 1,250 1,250 1.000 1,250 1,250 1,250 1,250 1.000 1.000 1.000 1,400 500 1,000 500 500 200 100 23,489 200 loo 23,489 21,656 Total 69,33 70, 5 Income from dmrltable actlvltles Total lunds 2025 Total funds 2024 R•strlrted Unrestrfct•d funds fvnds Cholr fees recebved AÈ-char8e from 5ervlces/events Shop, boxes and recltals Parochial Fee5 rrcket Recelpts etc. from events Tours & Hire Flat Rent Bank Interest Refreshments 113.472 89,393 34,682 5.244 6,858 4,840 26,400 12,520 1,853 113,472 89,393 34.682 5,244 6.8S8 4,840 26,400 12,520 2,438 92,853 73.484 28,277 5,463 1,243 21,912 2,529 585 Total 585 295,263 295,848 227,802 Page 18
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2025 6 Chjrftable artlvltles Total funds 2025 T<Jtsl funds 2024 las re5tatedl RestrSct•d Unrestrlct nds fund5 Donatlon5 payable (note 71 Clergy expenses Malntenance Stonework & Roof Prolert Crypt Refurbishment Audlt Professlonal Common Fund Admln15tratlon & Publldty Church Runnlng Costs Servlce Runnlng Costs HR & Tralnin8 Webslte Salarle5 Inote 81 Cholr & Mus5¢ Costs Shop & books Depreclatlon sundry 9,702 50 2,913 12,766 9,752 2,913 12,766 341,204 16,320 8.100 8.350 2,770 46,450 54,475 3,fy)0 10,040 341,204 16.320 8,100 90,000 127,426 74,946 12,845 3,928 11,122 193,109 268,635 6,301 13,990 1,397 90,000 127,426 74,946 12,845 3.928 11,122 193,109 268,635 6,301 13,990 1,397 85,500 108,616 63,602 10.295 5.087 9,925 129,039 2SI,165 5,700 10,070 1,472 Total 350,906 843,849 1,194,755 810,956 Pag8 19
ThE PAROCHIALCHURCH COUNCILOFST BRIDE NOTES TO THE FINANCIAL sfATEMENTS AS AT 31 DECEMBER 2025 7 Charltsble donatlons p•yable Total funds 2025 Total funds 2024 Restrlcted Unr•strl¢ted funds fvnds Alzheimer'5 Societv BGAJ Charltable Trust Brabn & Spine Foundatlon Brldewell Foundatlon BrStlsh Heart Foundatlon Brlt15h Red Cross Cancer Research UK Charleston Trust Committee to Protect Journallsts Crlsls UK Friends of Ashlana UK Glve a 8ook Gulld of St Brlde Hackney Foodbank Humanlty & Incluslon Integrated Educatlon Fund Journallsts, Charlty London Ambulance Charity Marle Colvin Center Marle Curle Medeclns sans Frontleres Myanmar Journallsts, Fund Natlonal Centre for Reptlle Welfare Natlonal Llteracy Trust NSPCC Qulet Garden Trust Reporters wlthout Borders Room to Read UK Ruth Straus5 Foundation Spe¢tacle Maker5 Charity Telegraph Chr15tmas Appeal The Bad Law Prolect The Donkey Sanctuary The Medla Society The Passage mes Christmas Appeal UCLH Cancer Charlty Unlted 24 Wildfish Wlldfowl & Wetlands Trust Young Womèn'5 Trust 269 183 269 183 142 293 iio 220 156 80 227 227 179 213 179 213 286 337 309 492 309 492 195 1,059 252 114 421 2,368 564 474 421 2,368 564 474 1,783 165 142 469 469 97 298 85 298 85 351 351 309 397 304 1,053 397 304 I,OS3 227 809 122 189 124 585 429 585 429 377 185 32 32 250 231 Total 9,702 50 9,752 8,350 Pago 20
TrIE PAROCHIAL CHURCH COUNCIL OF ST BRIDE NOTESTO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2025 8 Staff costs and rnlmbers General Cholr 2025 2024 Staff costs were as follows: las restated) 184.715 14,951 Salarles and wages SocSal Securlty cost5 Employer's contrlbutlon to Ilefined contrlbution pen51on Khemes Pension surplus 169,283 13,387 57,449 4,193 226.732 17,580 10.439 2,965 13,404 21,076 125,918 Tot•1 193,109 64,607 257,716 194,824 One employee recelved emoluments of more than £60,00012024.' nlll The total employment beneflts includlng employers penslon contrlbutlons of the key management personnel were £73,88612024'. 71,1441. The average number of employees durln8 the year was as follow5: 2025 2024 No. No. Employees Total 9 PCC m•mr3, r•mun•r•tlon and expen Durln8 the year, trustees were relmbursed for expenses totalllng £2,91212024: £2.7701 No trustees were remunerated durln8 the year12024.' nlll. 10 T•nglble fixed ass•ts offl¢e Total Cost At l January 2025 Addltions Disposa15 At 31 Dember 2025 232,116 39,199 39.199 271,31S 310,514 271,315 Accumulateddepreciatlon At l January 2025 Charge for the year Disposals At 31 December 2025 171,161 13,990 13,990 185,151 199,141 185,151 Net book vglue At 31 December 2025 At 31 December 2024 86.164 60.955 86.164 60,955 Page 21
THE PAROCHIAL CHURCH COUNCIL OF ST BRIDE NOTES TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2025 11 Debtors 2025 2024 {as restated) Prepayments & accrued Income Other debtor5 1,9)1 25,392 1,901 151,124 Total 27,293 153,025 12 Credltor5: amount5 fallln8 due wlthln one year 2025 2024 l•s restatèd} PAYE & NatOnal Insurance Deferred income Other Credltors 8,487 1,250 24,213 7,330 750 69,072 Total 33,950 77,152 13 Analysls of nel assets b•twe•n funds Current year General DesS8natqd un R•strl¢ted Total 2025 Tan8lble nxed a55ets Current assets Current Ilabllltles 86,164 7SO,WJ 86,164 872,347 133,9501 106,395 133,9501 15,953 Net asset5 at 31 Dernber 2025 72,445 836,164 15.953 924.561 Comparntlv¢- pr•vlous y•ar General un Deslgnated Restrf¢tqd Total 2024 {•$ restatedl Tanglble fixed assets Current assets Current Ilabllitles 60.955 7SO,000 60.955 899,660 177,1521 149,660 177,1521 Net asset5 at 31 December 2024 72,508 810,955 883,463 Page 22
ThE PAROCHIAL CHURCH COUNCIL OF ST BRIDE NOTESTO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2025 14 Movements In funds Curr•nt year At Transfers 31 December ween fu 2025 At l January In¢omlNA 2025 re50U Out801Tr8 re Restnctedfvnds.. Special 5ervlces Stonework and roof repalr projeci 9,702 19.7021 357,157 1341.2t141 15,953 Total re5trlcted funds 366,859 1350,9061 15,953 Unrertrktedfvnds.. Deslqnotedfvnd stonework and roof repalr project Flxed asset fund 750,000 60,955 750,000 86,164 25,209 Generolfund 72,508 868,994 1843,8491 125,2091 72,44S Total unresirlcled funds 883,463 868,994 1843,8491 908,609 Total fvndi 883,463 1,235,853 11,194,755) 924,561 comparat1. grevlous y•ar, as restat•d At Transfer$ 31 December ween At l Januiry Incomlng $0 Out8oln8 Restrlrtedfvnds.. Speclal servlces 82,833 182,8331 Total restricted fvnds 82,833 182,8331 UnrnsrtedfvndS." Deslgnotedfund stonework and roof repalr prolert Fixed a55et fund 750,000 110.0701 750.000 60,955 71,025 Genemlfvnd 10,718 1,529,843 1728,1231 1739,9301 72.508 Total unrestricled funds 81.743 1,529,843 1728,1231 883,463 Total fund5 81.743 1,612.676 1810,9561 883,463 Page 23
THE PAROCHIAL CHURCH COUNCIL OF ST 8RIDE NOTE5 TO THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2025 Purpose5 of restrlrted funds: Special servltes Collettions are taken at speclal servlces, a Proportion of which Is then distributed to external charlties nomlnated by the famlly or client. Stonework and roof repalr project Grants recelved dur1 the year speclflcally to 5UPPOrt thls prolert. Transler between funds.. Fixed asset fund Represents the movement In depreclatlng assets throuhgout the year. PuryK>ses of d•slyhated funds: Flxed asset fund The Trustees have deslgnated a fixed asset fund In order to represent fvnds for depreclatln8 assets In the church. Stonework and roof repalr prolert In 2024, the Trustees deslgnated £750,oixI frorn the Estate of Peter Lon8land towards the Stonework and Roof repalr prolect. IS Related party transa¢tlons The Rector and Churchwarden5 are the ex-officlo Trustee5 of St Brlde's Charlty and St Brlde Organ Fund. These Trusts support the work of the PCC, Durlng the year, the PCC recelved grants totsllln8 £165,00012024: £222,733) from St Brlde's Chailtv. Detalls on key mana8ement transactjons are found In note 6. Detslls of transactlons wlth Trustees are found In note 7. 16 Operatln8 lease ¢ommltments Mlnlmum totsl lease commltment under non-cancellable operatln8 leases.. 2025 2024 No. 14,672 6,901 No. 14,672 21,572 Wlthln l year After l year Total 21,573 36.244 Page 24
THE PAROCHIAL CHURCH COUNCILOF ST BRIDE STATEMENTOF FINANCIAL ACTIVITIES FOR THe YEAR E140E0 31 DECEMBER 2024 (Restated) Total Funds 2024 Restricted Funds De5i8nated Funds Unrestrlcted Fund5 Nots Income and Endowments from.. Donatlons and le8acles Charltable actlvitle5 82,581 252 1.302,294 227,550 1,384,875 227,802 Total Incomlng resources 82,833 I,S29,844 1,612,677 Expendlture on: Charltable actlvltlès 82,833 728,123 810,956 Total resources expended 82,833 728,123 810.956 Net incomellexpendlturel Transfers between lunds 801,721 1739,9301 801,721 739,930 Net mov4ment In fund$ 739,930 61,791 801,721 R•¢on¢lllatlort of funds Totsl funds brought forward Totsl funds carrf•d lorwlrd 71,025 810,955 10,718 72,509 81.743 883,464 14 Pag6 25