2022-12-31-accounts

Report and Financial Statements of the Paroehi*l Church Council of St Helen's, Bishopsgydte For the year ended 31 Decembei. 2022 Charity Registration Number 1131501

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFf AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE PCC Annual Report for th¢ year ended 31 Di¢cmber 2022 CONTEf4TS P&ge Officers. Iwstees and other infom81ion PCCAnnual Report............... Fiiiancial Revi¢w..................... Stai¢ment of Finaneial A¢tivities.......... Balance Sheet.................. Slatemeiit of Cash flows. Notes to the Financial Statemenls..................... AuditolsrepDrt....-..................... 10 12 37-39 Officers Rettor Th¢ RevereJ)d W Taylor Curates The Reverend Dr A Glyn The Reverend L Cornelius The Reverend D Balch The Reverend P Hudson Chureh Wardens Mr J AEtderson Mr R Anthrws Mr C Kasenene Mr A Ross Mr R T¢tt Dr S Tiy)wbridge Secretary MrA Wales Treasurer Mr J Anderson Address St Hel¢M's Church Office, Great St H¢len's, London, EC3A 6AT Partnershlp & Projects Leadev Mr B O'Donoghue Operations Manage Mr J Bojrington Audltovs Griffm Stone Mos¢rop & Co, 21-27 Lamb's Conduit Street, London, WCIN 3GS BRrtk¢vs National Westminster Bank Plc. 49 Bishopsgate. London, EC2N 3AS The Parochial Church Couneil is a corporat¢ body establtshcd by and opeJ>ting undei. the Parochial Cliurth Councils (Powers) Measuie 19S6. The PCC is registered with the Charity Comniission as'The Parochial Chureh Council of the e¢¢lesias1icAI parish of SI Helen, Bishopsgate, witli registration no. 1131501.

THE PARISH OF ST HELEN BISHOPSGA TE WtTH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE PCC Annual Report for the yegr ended 31 December 2022 Since l January 2022 to tli¢ dale of approval of this report. the PCC menibers, who act as triisl¢¢s of the registered chai'ity, ¢ompris¢d.. Rev W Taylor R¢v A Balch Rev Dr A Glyn Rev J Houghion Rev P Hudson Rev L Coi'nelius Mr J Andersoth CBE Mr R Andrews Mr C Kasenene Chairman and Rector Vi¢e Chainnan, Treasurer and Warden Walden Ward¢n Mr A Ross MrRTdt Dr S Trowbridge Mr R AndeJ%on Mr l Bright Ms L Bl'ock Mr M Burden Mr S Coiigdo Mr R de Villiers Mrs S Finch Warden Warden Warden To 25 April 2022 Mr P Hagenbuch Dr G Flaile Ms C Hardwick Mr S Hogan Mr T James Mrs W Kasenaie Frotn 01 July 2022 Mr R Keep Mr J Laing Ms A Lamb Mr C Longden Miss K Malcolm Dr M Marnthappu Mr S McGowan Mr Y Monclair To 25 April 2022 To 25 April 2022 Mr D Nartey Mr B O'Donoghue Ms M Okine Mrs A Robson Mr L Rurland¢r Mr T Shelley Mr P Sinipkin Mr G Sommerville From 25 April 2022 From 25 April 2022 Mrs R Steeden From 25 April 2022

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFf AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE PCC Annual Report for the year ¢Dd£d 31 December 2022 Mr L Swalman Dr Y-C Teh Mr M Th0￿e Miss S Too MrA Wales Ms R Williams Mr J Wolstenholme Secretary To I September 2022 Mr J Xiao MrA Yu Fiy)llL 25 April 2022

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE PCC Annual Report for the yeAr ended 31 Deeember 2022 Straleglc Report objectiv￿ and a¢tlvltles The prirnary objective of all PCCS is the promotion of the Gospel of our Lord Jesus Christ for th¢ benefit of the public. Oui. church has as ils stated objective to bl'ing glory to God by knowing Him and making Hiin known as we proclaim Jesus Clirisl. The church, as in previous yoats, pursues this objective under three headings. amely "R¢ath out, Build up and Send out" reeching out with the Gospel of Clll'ist to those who would not call th¢mselv¢s Christian. building up believers to rnaturity in Chrisl., and sending people out from lh¢ ¢ongregaiitsn lo serv¢ Christ both in the UK and overseas. The PCC is required to report on the criteria or i)ieasures used to assess su¢¢ess. The Bible teaches us to proclaim the Gospel of our Lord Jesu5 Christ faithfully, clearly and unashamedly but leave the results lo God (e.g. Mark 4). Therefore, although any gospel growtl) is a great en¢ourag¢ment, the succe5$ in achieving the church's aims and objectives is not measui'ed by the number of attendee5 or by gr0￿h in nuinbers. Rather, the aim of the ministry activities of the church is to seek to provide people with opportiinities to hear the Gospel and to respond in repentance and faith. The PCC assesses success in tem)s of whether this is being undertaken in obedient faithfulness. The PCC se¢ks to assist, support, eneourage, and provide resources for the Rector and staff in promoting the work of r¢aching out with ihe Gospel, equipping the church family to do so, building up Christian and sending out full-time workers into gospel ministry. The PCC has considered the Charity Commlssion's guidance on public beiiefit and. in particular, the specific guidance on chariiies for the advancemeni of religion. The a¢iiviii¢s of the chuich in the pursuit of its aim include Sunday servi¢es, Christianity Explored, Tuesday lunchiime miiiigtry, gospel work at other locations within the City and beyond, Read MaTk Learn, International Growth GTtsUPS, Central Focus, the Partnership. the youih work and Sullday School, other small groups, the Associate Scheme. church planting. Mission Parther support, prison ministry, participation in the City's Street Poslors scheme, and a stay-and-play mums aTbd toddlers group for people in the local coimmunity with young children. All the activities of the church are regulai'ly monitored and reviewed by the PCC against the yardstick of the church's aim and objective. The achievements in 2022 are set out under th¢ heading 'Review of achieyemenls and performance in 2022, below. The activities provide benefit not only to those who are regulglr attendees of the various churcli services, meetings and events, but also to those who work and live in the parish area as well as the other communities in which we serve. The actiYili¢s of the PCC are puisued noijust by members of th¢ ¢hur¢h staff. The church is heavily dependent for 11$ a¢tiviti¢s upon th¢ service of the ¢huith family- and rightly so. It is the essence of gospel partnership that the WO￿ of the church be pursu¢d by the whole congregation of believers and that the leaders of the ¢hur¢h should seek to equip all members of the church family to play their part. It is the aim and intention of the pcc thai the entirety of its fin8n¢ial resources be carefully devoted lo lh¢ pursuit of the church's slated obje¢tive. Fln#n£ial revlew The financial r¢vi¢w set out on pages 7-9 forn)s Part of this PCC Report. Strueturei governanie aDd management The PCC is a body corporate estsblished by and operating under the Parochial Church Councils (Powers) fvleasL]re 1956. It is a charity registered with the Ch￿'itY Commission under registrdtion no. 1131501. The election artd appointment of PCC members is governed by the Church Representation Rules {2020). The church is part of the Diocese of London of the Church of England and implements national Church of England policies as required by the Diocese of London. There wei'e 51 memb¢rs of the PCC in 2022, ¢l¢cted, ex offieio and co-opted, drawn from the midw¢ek and Sunday ¢QDgr¢gations. During the period of the Irport there wer¢ 15 eleeted members aÈ any one time. The balance ¢ompi'is¢d the clergy and membei's who, a5 ehurchwardefts or members of the General, Diocesan oi. Deanery Synods, air ex oificio members. Two rn¢mb¢r5 of the church staff regularly attend meetings by invitation. In addition to the slattitory standing cgmintitee, the PCC has a fjnance tommittee, a buildings committee, an IT Committee, an international steel'ing group> a safeguarding committee, a staffing committee, and a UK Inission committee.

THE PARISH OF ST HELEN BTSHOPSGATE WtTH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE ATr4D ST MARTIN OLrrwicH AND ST MARY AXE PCC Annual Report for Ilie year ended 31 D¢eeinber 2022 Th¢ fiiiance ¢omniittee's purpose is lo assist the Treasurer in overse¢ing th¢ financial affairs of tlie church und to bring lo th¢ PCC art winual bud8et, regular updates on income and expenditure and on any issu¢$ wliich require r¢solutiot], together with r¢commelldaliotig on possible coui'ses of action. The buildiiigs conimilt¢¢'s purpos¢ is to 8SSlSI the PCC and Faeiliti¢s Man2ger in overseeing the mattitenance 8rtd care of the Chureh buildings and offices ajid to bring issiies, which need resolution, to the ktlenlion of the PCC, togethej. with recoinmendations of po&8ible eourses of a¢tion. Tlie international steering group aims to plan strategically all the church's intemlllional ministry. includiiig mission partners, overseas ministry trips by st8ff and inviting people overseas to joiii the Associate Schejne or Cornhill Training Course. An intemational committee opeiates as a sub- committee of the intei'national steering &iroup, with tlie aim of %ending out mission partners suppoiting them inaterially arjd throii8h prayei.. The internfttionAI steerin8 group is responsible for reeommendat50ns of potential mission portners and proposing levels of financial support for approval by the PCC. The IT committee's pui'pose 1510 5UPPOIt our IT team in ovei'seeiiig the IT infra5tTUCture. pi'imarily thyough advice and guidance. It lielps review ai)d develop strategies foi. the IT infra5tmetui'e. The committee bTings reports on IT Inattet3 to the PCC, as well as pi'opo5als for developing tlie IT infrastsuctwe to the R¢c.lor, 1.eam Leader5 and die PCC.. The s2fe¥uhrdin¥ committee is a source of advice and guidance on safeguarding issues. It as5iSt5 the PCC in overseeing th¢ safeguarding affairs of the ehurch in accoi'dAnce with the applicable slandgrd$ and ic brings issues which need resoluiion to the attentioi) of the PCC, together with reeommeiid8tions for changes in policy and procedure. The responsibility for 5&feguarding rem8ins a responsibility of the PCC as a whole, including for the eoiitent and iinplementation of all policies and pro¢edur¢s. The staffing committee's purpose 15 to support the PCC and Operations Mat)8g¢r in overseeing the good managemenl of staff and volunt¢ers. It helps review policies ond 318ffing documents to ensure they remaiii fit for purpose and at industy standard. It advises th¢ PCC on ¢mployment related matters. The UK mission ¢ommittee'5 pul'pose is to assist the PCC in its support of UK partner hur¢h¢51ministri¢s and to co-oi'dinate the practical outworking of the PCC'S policy for supporting such Churcheslministries. In temis of PCC niembershipi the aim 15 to r¢cntit 8 cr053-se¢tion of individua15 with ii?volvernent in 2 variety of the areas of the cliurch's ministry a¢tivili¢$. Most of those i'e¢i'uited are already involv¢d in leadei'ship in an area of the church'5 mission and ministry) sorne are c1105en for their 5pecifi¢ pi'ofessional skills and expa'ience which are peJreiv¢d as useful for th¢ pJM)pei' fiLllCtioning of the PCC. New PCC members are directed to the trust¢e responsibilities resources atid tsaining availabl¢ on the Charity Commission and Diocese of London websites. An additional iiidllction for n¢w PCC members was also provided. Trainiiig in matters such as h¢alth and safety and food 5afcty IS uiidertaken by members of the church staff with parli¢ular J'¢SPOhsibility for the matter question. Safegllarding training is undertaken in part by Members of th¢ ChU￿h staff (for example, for volunteer Sunday School leaders) and in part by th¢ Diocese of l.ondon. The Diocese of London agrees stipend levels for all Church of England clergy in London, which th¢ PCC accepts for ils clergy. The PCC agrees the salary structure and policies for ils eniployees. The Treasurer, with input from tl)e finai)ce and st2ffing committees. reviews and determiiies the individual annual 5alpries for all employees in accordance with the stwcture and poli¢ies set by th¢ PCC and iii accordance with the annual budget.

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGA TE AND ST MARTIN OUTWICH AND ST MARY AXE PCC Annual Report for the year ended 31 Deeember 2022 Th¢ R¢¢¢or provid¢s spirithal leadership for St Helen's church with the gupport of the other clergy and senioi. 51aff memb¢rs. The PCC del¢gat¢s day-to-day administyative management to the Operations Martagei., subjeet to writt¢n i'¢stri¢lions applicable lo his expendÉ¢ure authority. Rlsk manxgeiMeDt Tl)¢ PCC coi)tinu¢s to operate its risk r¢8ister and risk mitigation framework, which were reviewed and updated in 2022. Wiile this canJ)ot provid¢ absolute assuranee, the sleps taken should enable the PCC and the to achieve its objectives. Risk is also cot)sidercd regularly as part of ¢h¢ deci5ion-maktng pro¢¢ss. The principal risks facing the on-going ministy of the d)urch have been identified as.. Unfaithful teaching from the pulpit or in small 8roups Significant damage to any of the buildings Safeguarding Reputational damage caused by failure to ¢omply with employment. finan¢ial or health ond safety I'egulations Finaneial stability These risks are managed by> reSp￿tiVe1y.. PCC members being part of congregations and small groups. Small group leaders receive exiensive training and set)ior staff provide feedback on semions. InsuiBnc¢ policies being in forc¢ to eovth. damage to buildings 8nd any ¢onsequential loss incuJTed by Telocating ministry activities during rq)8irs. Written Safeguarding policy and procedures including. where appi'opriate, the requirement for a Disclosure and Barri1)8 Setvice disclosure prior to serving with children. The PCC has a diity under section 5 of the Safeguarding and Clergy Discipline Measure 2016 to have due regard to the House of Bishops" Buidance on safeguarding children and vuliierable adults" The PCC has complied with this duty. Public liability, employer liability at)d truste¢ indemnity insuran¢¢ cover. Written financial procedures and controls and writt¢n health and safety procedures. Statemtnt of PCC m¢inb¢r5' re5ponslbllltles A statement of the responsibilities of mernb¢rs of the PCC is set out on page 9 and forms part of this PCC Report. Revlew of achlevements And performanee In 2022 plans for the future A review of achievements and p¢rfomance in 2022 and plAns for the ￿tUre is set out on pages 7-9. Andrew Wal&s Secretary

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MAR Y AXE PCC Annual Report- Financial Review for the y¢8r ended 31 D¢etmber 2022 Summary of main 4ehievements 2022 was an encouraging year as physical meetiiigs were again tlie maiiistay for ministry. R¢gular giving was at the same level as 2021, but did not meet the budgeted increas¢ of 5 /0. One-off gifts were down 14Yo on the previous year, but alx)ve biidget. Costs iiici'eased Inore thali expeGt¢d becRiise of iiiflatioiiary pressures on staff ai)d utility costs. The lowei. tllan budgeted iiicome and tl)e increased costs resulted in a deficit of £262,389. B¢yond local ministry we gave grants to international Inissioi) partiiers and 5 small UK churches. Bi'iefJ'efleGilons ofoi¢r achievemenls in light ofoui, objLIIv¢s t has been a great joy io b¢ fully back to preQovid pattems of mtnistry aciDss our Sunday sei'vices, our mid-week activities and small groups. and our Sunday School and youth activities. We continue to invite people to join services online where th¢y are still unable to attend in pei%on. Attendance rose at our Sunday services and in our small group bible studies for workers. students and internationals. Our Sunday School and Youtli groups have been eiicouraging and serve not only our own youth, but many from oth¢r churches and schools. The pareiits and toddlers group. and the City Pastors teams have been serving the local Community. The prison ministry has continued to be well re¢eiv¢d by prisoners and bear fluit. We worked with other misgion partn¢rs to launch a new ministry, Asha, to serve those livtng in East London. Wliilst our mid-week ministrie5 in Bishopsgate, North Bishopsgate. Moorgate and CoventGarden five supported by a ¢ore of p¢ople, they are Smaller than they wer¢ pr¢-Covid. This is be¢ause of the mov¢ to hybrid Working patterns for many peopl¢ in the City. We will therefore be experimenting to s¢¢ how w¢ ¢an best serve the many p¢ople whose offices ai based n¢ar us, even if they are not always physic8lly present. Reeent evangelistic events huve shown that there is still an appetite from those who are not yet Christians to hear the Christian message. St Helen's continued to $upport the ministry of St Michael, Cornhill and Si Benet, Paiil's Wharf. Staff members led ministry activiti￿ and servi¢¢s, with their costs covered by St Helen's., volunteer lime was also provided. W¢ supported at fiv¢ small¢r UK churches. These smoll churches are in areas where there is gospel need and oppoitiinily but little resour¢¢. It has been very pleasing to heal. fi'om them that our support to help 'pump pi'ime, growtli oppOrtL￿111¢s lias boJ'n¢ fruit for the gospel and strengthened the churehes themselves. One part of our 2030 vision is to increase the opportunities we can provide for those who want to train for full-time Christian ministry. We were therefore pleased to welcome an increased number of Trainee Christian Leader5, With ¢ight men and women curirntly on this scheme. Finuncial oiiicomies On the in¢ome Side, the number of regular givers remained stable, though regulor giving dropped by lty/•. But (his was down against our budgei, which plallned foi. a 5Q/o increase. Yet k)gain we received some very significant one-off gifts, in¢ludillg one exceptional gift, in 2022. Tholigh the toial of one-off gifts was down 149/0 v$ 2021, this was 9D/o up against oui. budget. On the expenditure side, the combination of a full rang¢ of minlgtry activities and the imp#¢t of inflation, particulerly on iitilitie5 and ytaff costs, led to an increase in costs of 18Q/, lo a total of £4,298,998. Expenditure ort mission and UK support was up +70/D' Staff related cosis were up +8ty/0,' the running costs of our buildings negrly doubled; we bought n¢w ehairs for the church. ministry activity Cogts rose +80Q/o as events, catering and weekends away were all tn high demand. This was partly offset by increased income in these areos. These dynamics led io an overall deficit of £262,389 to be Covered from reserves. We had plaiined to use £250.000 of res¢ry¢% to support 2030 Vision initiativ¢s around lyaining and n1i5sion. So. after tsking this transfer into account we w¢r¢ reasonably balat)eed. Howev¢r, our one-off gift5 w¢re about £400,000 higher than we would normally expect, so the PCC will ned to ¢lose th¢ gup betw¢en ineome and costs ov¢r th¢ n¢xt couple of years.

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE PCC Annual Report- Financial Review for the yeay ended 31 Deeember 2022 Conliniiing ihe work Th¢ g¢n¢rous financial supporl for th¢ ministry during the year ¢nabled us to continue a wide range of a¢livities tsrÈdeT our sts7tegy of- Rea¢h Oui.. Through involvement of our memb¢rs and staff in woilcplaees. colleges, local communities, and c1)U￿b¢S I￿allY and fw'ih¢r afield. Biiild Up.. Through our re8iilar programnie of services, small group& prayer meetings and other activities. We also conlinued to progi'ammes to trdin future Christian workers. Send Oul.. We coiitinued our support for iii(el￿at10l)aI mission partners in Europe, Afri¢a and Asia and made grants to five small UK chwrhes to help them grow new miDi5tries. As we look forwai'd to 2023. we exp¢¢t these activities to continue. In line with our 2030 ministty vision, we also hope lo in¢rease the number of people in training for future ministry and have budgeted to use £275,000 of our Strat¢gi Reserve to support this in 2023. Re&epwesw)licy Si Helen's Financ¢ Commitl¢e mgnitors reseNes to ensure we have appropriat¢ finaneial resources to continue the church's Ininistry. In 2021 th¢ PCC approved an updated policy which sets both target and mirrimum reserves levels. This is d¢signed to enable us to C4Jvei. ￿￿te Nnning eosts of the ministry if Ilier¢ is volatility in our gift income. We 2r¢ extremely thankfijl ￿ God for all our givetA but understand tl)at some are able to donat¢ on¢¥off gifts of signifJ¢ant valu¢ in one year, but that this may not occur each year. The updoted PCC reserves poli￿ tokes that into account niore specifically by recognising tlie potential volatility of our usual one-off gifts. Exceptional gkft5 set aside for 5trdtegic use are not regarded a5 recurring, and Ih¢r¢for¢ are not included in assessing the Appropriate reserves levels. For 2023 th¢ policy indicates a target reserves level of £1,750,(100, equivalen¢ to 4 months of costs (excluding trading expenditure) plus 50Q/o of one-off gifts received in the pr¢vioiis yeaT. The niinimum reserves level has been set al £1,300,000. equivalent to 3 moi)th5 of costs plus 330/0 of on¢-off gifts received in th¢ previous year. We are thankfijl to God f￿. his gen￿'Ous provÉsion of a number of exceptional gifts in recent year5, providing St Helen's with reserve5 in excess of oiir target reserve5 policy. A portion of these excess funds have been set aside by the PCC in a de51gnated fund that is iniended to help finance fvthre ministy ft¢¢d4 overa nuniber ofyears, to support the 2030 ministry visioll. At ihe aid of 2022 St Helen's held unrestri¢t¢d ￿ndS {including designated funds) of £2.910.952. down from £3,154.879 ii) 2021. Restrieted funds were £134,518 {2021'. £158.580). Most balances iii restricted funds r¢preset)t gifts for speeific mÉnistry areas ai)d are expected to be used in the neèr l¢mi, usually less Ihan twelve months. Unrestricted fimds ar¢niainly held in cash deposits and therefore availabl¢ for short-temi use. £24,612 is held in fixed assets and ¢ould not be used at short notice. FiKancial Risks Re¢¢nt at)nouncemen¢s by the House of Bishops olth¢ Church of England have eaiised concem amongst a number of our rinancial supporter5. This include5 some of our larg¢sl 8iv¢rs, who hav¢ indicated that they inÉend to reduce ¢heir giving to Us until th¢ Chuich of England has confirmed appropriate provision lor churches wliich upl)old the traditional teaching of tlie Church of Englaiid. This could cause a significant drop in in¢om¢ in 2023, resultii)g in a deficit beyond that already budg¢ted. Whilst ow r¢serves positioi) is currently robu51, r¢seryes could fall sharply if they are needed to offset a significant drop itt income. The Finance Commitlc¢ ke¢ps the lon8er-te]1n finaneial sustainability of the ministy undei. fJrqueAi review. CltssiKg remarks We give thanks for God's grace in providing for our needs ¢hrough many very generous givers from our church family and beyond. whatever the amount of individual gifts we value each one of th¢in. Thank ygu also to those who njn the finances on a day lo day basis, and the memberg of the Finance Committee who steward lh¢ chur¢h'5 resources. Jeremy Andersoll Trell$Mrer I h April 2023

THE PARJSH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE PCC Annual Report- Financial Revieiv fov lh¢ year ended 31 De¢¢mbeY 2022 Stnlement of PCC Members, responslbllilies In relatlon to the flnanclal Stateme￿ts Liw applicable to ch&rilies requires ihe PCC to prepore finaiicial stslemenls for each financial year which give a tru¢ and fair view ofthe chai'ity'5 fthancial a¢tivities during the year and of ils finan¢ial pts$ition at the ertd of the year. In pr¢paring financial statements giving a true and fair view, the PCC is required lo.. seleet suitable accounting policies and thei) apply them consistently: make judgemenrs 2nd estimates that are reasoi)able alld prudent. stAte whether appli¢abl¢ aceounling stwidards and statemeiits of recotnmended Practi￿ have been followed subject to any departures disclos¢d and explained in the financial stal¢ments; and prepare the financial 5tateinents on the going coi)cem basis unless it is inappropriate to presume th&t the charity will continue in operation The membeis of the PCC al'e responsible for keeping accounting records which disc105e with reason&ble accu¥acy at any time tl)e fit)ancial position of ihe charity and which enable them to ascertAin that the financial statements comply with applieable laws and regulations. They are also responsible for safeguarding tl)e a55ets of the chai'ity and hence for tsking reasonable steps for the prevention detection of fraud aiid other irregularities.

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHA AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE Statement of Financial Activities For the year ended 31 December 2022 Prlor ptrfod Further T•tAI TotAI funds detail$ Unre5trlo¢ed Deslgnated funds funds Reslrl¢t¢d nd 2022 2021 Not¢ Jn¢ome and endowments frojn: Donations and legacies 3,188,708 163.015 3,351,723 4.318,006 Charitable activilie5 457,9S5 22,050 480.005 275.193 Other trading activities 130,438 50 130,488 115,050 Investments 19.745 19,745 5.787 Othtt in¢ome 33,428 21.220 54,648 72,008 Totv41 Ineome 3,830.274 206,335 4,036.609 4,786,044 Expenditure on: Charitable a¢tivities 3.996,736 302.262 4.298.998 3.024,085 Total expenditure 3,996.736 302,262 4,298,998 3,624,085 Net Ineomel(expenditure) (166,462) (95.927) (262,389) 1.161,959 Trnnsfeys btttveen funds 178,535 {2SO,000) 71,465 io Net movement in funds 11073 (250,OIKI) (24,462) (262J89) 1,161,959 Re£on¢lliAtlon of funds: Total fund$ brough¢ forward 1.954,879 1.200,000 158,580 3,313,459 2,151,500 Total funds carri¢d forw8Td 1,966,952 950,000 134,118 3,051,07fl 3J13,459 Furd)er infomation can be fouJ)d in the relevant not¢s to th¢ A¢eounts, as indicated in the final column above. 10

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MAR TfN OUTWICH AND ST MARY AXE Balance Sheet At 31 December 2022 2022 2021 Flxtd AssttS Tangibl¢ assets 24,612 24,612 Total fixed wets 29284 Current Assets Book stocks Debtors Short-temi ba]ik deposits Cath ai bank and in hand 10,632 213,044 1,910,580 1,230,850 9.730 968,695 901,243 1,653,896 12 13 Tolal fllrren¢ ¥ssels 3,365,118 3,533564 Llabilities Creditors.. Amounts falling du¢ within ort¢ year 338,660 249,389 Net eurrent assets J,026,458 3,284,175 16 Total net assets 3051,070 3,313,459 The funds of the ¢haYlty Restricted income fijnds Unrestricted fijnds: Fixed Asset Fund De$ign8ted Fund-Strategi¢ Reserve General Fund 134,118 158,580 Is 24,612 950,000 1.942,340 29,284 1,200,000 1,925,595 Total unr¢$¢rleted funds 2.916,952 3.154.879 Totgl ¢harity funds 3,051,070 3,313,459 The financial statements on pages 10-12 and the notes on pages 13-36 were approved by the P&'oehio1 Church Couneil on 16 April 2023 and signed on its behalf by.. Rev W Taylor Chairman Mi J Attd¢rson Treasurer Mr A Ross Churchwarden

THE PARISH OF ST HELEN BISHOPSGA TE WITH ST ANDREW trNDERSHAFf AND ST ETHELBURGA BISHOPSGA TE AND ST MARTIN OUTWICH AND ST MARY AXE Statement of Cash Flows For tlie year ended 31 Dec¢inbti' 2022 Toll Fynds TotAI Funds 2021 2022 Not¢ Cu,shfl•wslmni operniiiig uelivilies.. Nel eusliprovlded by/{used In)operniliig Aeilvlrfes Table I 572,199 428,246 CashJlow.sfrom Invejiliig ftcilvlile5.' Puyrhase ofpi-Épperty, plorti andequippiieni I￿re1.¢$1fr0In b￿￿k dgptpsil) lllerease In deposil aecoiipils hgldfvr inveslMenipurpo&'es {5,484) 19,588 (1,009,343) (24,007) 3,347 (3.6S4) Net cash ￿ed inve.¥ling oclivilies (995,239) (24,314) Ch￿￿8￿ In ertsh ¢osb etjiilvolemts IM ihe reptsrilngperlod Cash and¢ush equivalenis oi ihe begiKning ofik l't'PDril￿g period Cfflsh eqiilvftlents otihe endofihe reportlmgperltsd (423,040} 403,932 1,653,896 1249,964 Table 2 1.230,856 1,653,896 Table I: Reconcilia￿0￿ of ttel In¢omel(exptnditsre) to ￿¢ c#sh flow from tsperAting 4ctivi1te5 2022 21lll Nei (weiidliiire)ANeonielor ihe reporlillgperiod (asper the s¥uleMwui ofJ7iirtMclul tscilvilies) {262,389) 1.161,959 Adjustments for: Depreciation charges Interest fiDm bank deposits (Increase}Idecrease in book stocks Decreasel(increa5e) in debto Inciease in creditors L05$ on disposal of fixed assets Net cash Provided by/ (used in) op¢rating activities 10,156 (19,588) (902) 755,051 89,271 14,782 (3,347) 2,456 {822,794) 74,938 252 572,199 428,246 Table 2: Analys15 of cash cush ¢q￿&Valents 2022 2021 Cash gt bank and iii hand 1,230,856 1.230.856 1,653,896 1,653,896 Tolaleush aiidcash e4iilv141ents Analysis of ¢h¥hEes In net debt Al stayl of y¢4T CAsh Flows Ai end of year Cash aL bank and in hand ,653.896 (423,040) 1,230,856 12

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTtN OUTWICH AND ST MARY AXE Notes to the Financial Statements For tbe year ended 31 December 2022 Accounting Policies 1.1 The finan¢ial $latem¢nts hav¢ been pr¢pared lo give a 'ltue and fair, view and have departed from the Charities (Accouiits and Reports) Regulation5 2008 only to the extent requiied lo provide a 'tNe and fair, view. Tliis dep?￿re has involved following the Charities SORP IFRS 102} issued in Oetober 2019 rather thpn the Ac¢ounling aiid R¢portiii¥ by Charities.. Stal¢menl of Recommend¢d PIAetice effe¢iive from I April 2005 whi¢h ha5 sinc¢ been withdrawn. The financial statemeiits l)ave been prepared under the historical cost convention with items reeognised al cost or transaction value unless otlierwise stated in the relevant notes to these f]nancial statements. The financial statements have been prepared under the Chui'ch Accounting Regulations 2006 as far as CUTTently applicable, in accoi'danee with ihe Statement of Recommended Pi?£Éice.' Accounting and Reporting by Charities preparing their financial staienienls in aecordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} issued iii October 2019 {SORP 2019 (FRS 102}). the Finèncial Reporting Standard applicable in Ihe United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The finan¢ial statements are prepared in slerling, which 15 the piEsentation eurren¢y of the PCC, and are rounded to the nearest £1 Under FRS 102. the PCC falls withiii the deflnition of a public benefit entity. 1.2 Income liicomefrofft doiiaiioN.% andlegacies Donations and planned giving are recognised when received. Income tax recoverable on Gift Aid donations is recognised when income is receivable, provided that income tax is reasonably certain to be recovered. Income from legacies is recogllised wl)en ils receipt becomes probabl¢ following the grant of probate. Graiits ree¢l￿ble dnilÉiidown*iils Grants are recogiiised when the cortdilions for receipt have been niet. Ineome from endowments is included within unwtri¢l¢d or r¢stri¢t¢d funds in a¢¢ordance with the terms of th¢ ¢ndowment. Governnienlgrfthts Gov¢mment grants relating to tangible fix¢d assets are treated as defr]red incom¢ and released to the Stat¢m¢rtl of Financsal Activities over the exp¢cied useful lives of the assets ¢on¢¢rncd. Other grants are credited to the Stat¢nient of Finaiicial Activiti¢s as the relatcd expenditure 15 in¢urr¢d. In¢omefrom liiveslments. Investmeiit income is accounted for in the period in which it is earned and when the amount ¢an be nieasured i¢liably. Surplus ￿ndS are invested in interest bearing (or equival¢nt) deposits, mainly witli major finHncial institutions or with deposit-taking charities, to minimise market and credit risks. Cllmrch ucilvlile5 Catering and other sales represent the amount received foi. mea15 and other go(Kis and Se￿1¢¢5, net of VAT where applicabl¢. Ollier lttcots oih¢r income is ac¢ount¢d for on a receipts basis. IJ Re¢tsgnltloTh Of eXp¢ndIt￿ye Recognlilon of Ilablliiles 13

THE PARISH OF ST HELEN BISHOPSGA TE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTJN OUTWICH AND ST MARY AXE Notes to the Finaneial Statements For the year ended 31 December 2022 Liabiliti&% are recognised as expeiiditur¢ as 500D a5 there is a legal or ¢0tt5tructive obligatioii committing the ¢hui'eh to that expei)ditttre. it is probable that Settlemeiit will be Irquired and tli¢ amouiit of the obligation can be reeognised and measured ieliably. Accordingly, a¢¢n￿ls, Creditors and provisions are recognised where Lh¢ ehureh has a pi'esenl obligation resulting from a past event and wheie Ilie future outflow of ￿ndS to a third party is probable. The amounts recognised ii?clud¢ allowanc¢5 for any applicable trade discount5 likely to be ket) UP. Gr(4ntspayable Grants and donations for the financial year are accounted for when a decision has b¢¢n taken to support a particular ministry. Minhlry SupporiExp¢Ndliure Expenditure is aecounted for on an accTuals basis. Alloeolioii of dYpeiidilNre Support costs are 3llocatcd to the different categories of eypenditure according to Il)e estimated staff time involvcd andlor costs incurred. It is not considered appropriate to allocate support costs relatii)g to grant-niaking activities scpar&tely from those relating to other church activities. The allocation of support eosis is shown in Not¢ 8. Goyernullee c'osts Governance costs compris¢ all costs involvin8 the public accountability of the ¢harity and its cornplianee with regulation and good pi?¢lice. These costs include the statutoiy audit and legal fees together with any relevant apportionment ot overh¢ad and support eosts. In accordÈnce with FRS 102 tlie5e costs hove been in¢luded witliin the overall support costs showj) iii Note 8. Allocuiloll of GDveriiaNce costs Given the stated objectives and a¢livities of the PCC. and boih the indivisible nalure of the ¢hur¢h's activities as well as the relative rost (>f governance to these activities, it is not consider¢d appmpriate to allocate governance costs across the Activities of the ehurch. Governance costs ar¢ in¢lud¢d in support ¢osls in Note 8, Penslon Costs D¢]lfteil Coiilwlbulldn Schenje St Helen's provides a contributory defined contribution scheme for its employees and the conlribution$ pay2bl¢ in respect of service during the year 8re expensed in aecordanee with S28.13 of FRS 102. DeJ7n&l BeNefltSeheme The stipendiary clergy at St H¢len's are members of the Church of England Funded Pensions S¢h¢m¢ (CEFPS), defined benefit sclieme. The scheme is administered by the Chureh of England Pensions Bgard. which holds the assets of the scheme sq)grat¢ly from those of (he participating responsible bodie5. The scheme is considered to be a multi-employer s¢h¢m¢ as described in Seclion 28 of FRS 102. This means that it is not Possible to attribute the scheme's assets lnd liabilities to specific ￿nployerS and that contributions ait accounted for ￿ if the scheme were a defin¢d contribution scheme. This is the position for all but l {2020.. 1) meinb¢r of th¢ cleygy. For the puty)ses of the scheme, si Helen's is not eonsidered to be the responsible body for the majority of its clergy beeause it doe5 not direetly employ them and iheir cost ofemployment, including pension contributions. are recharged to it by Ih¢ir ultima(e employer, which is coi)sidered to be their rel¢vwit I'e5ponsible body. For these members of the clergy, the pensions costs charged to the Sraieinent of Financial Activili¢s in th¢ year are the contributioiis payable tOW2rds benefits and expenses accNed in that year. Foi. the remaining member of the ¢lergy, St Helen's is the responsible b(NJy because il pays that membei s pension contributions directly to the scheme. As a result of ihis ai)d iii respect of thot ni¢nib¢r ortly, St Helei)'s is required, under 828.1 IA of FRS IO* to account for its sl)are of any deficit liability Ihal th¢ s¢h¢me niay have by carrying ihat liability on its balan¢e sheet and gecounting for chonges lli that liability tlinFugh the Stateinent of Financial Activities. 14

THE PARISH OF ST HELEN BISHOPSGA TE WITH ST ANDREW UNDERSHAFf AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWJCH AND ST MARY AXE Notes to the Financial Statements For the year ended 31 De¢ember 2022 To dale, the PCC has iiot included ihis liability in its financial Statements because its amount is immaterial. The PCC monitors th¢ Inateriality of the liability anniially attd will account for li under Seelion 28.1 l A of FRS 102 as appioprial¢, Furdier details ar¢ given in Note 9 1.4 Fund accounting Unreslrlcledfunds Unrestricted funds represent the funds of the PCC thal are not subject to any restriction on Ih¢ir use. The Fixed Asset Fund, included as a desigiialcd fund, ￿preSentS the net book value of fixed assets which were acquired with unrestricted ￿nds. Deslyiiaied Funds Designated funds are those amounts which the PCC has decided to sel aside from unrestrieÉed funds to be used in the future for a 'designated' purpose. They Can be trd¢signated by the PCC from one pu4)ose to ailother or undesignaied and returned to unrestricted funds. In 2021, followiiig the receipt of a significant donatiOTt and 8 large legacy, the PCC decided to set up a desiwiated fund called 'Strategi¢ Reserve Fund,, the Purpose of which is to help fund ministry expaiision a5 of the PCC'S 2030 Vision prow'amme. Re3lYlcledfuHd5 Restricted fund$ ar¢ the funds which liav¢ been donated for specific purposes. The purpose and use of the restricted fvnds are set out in Note 15 to the finat)cial ststements. 1.5 T￿ngIble flxed assets CoMsecrale41 lurfd fvilldlrtgs uiid chiirclifiirnlshlngs Consecrated and ben¢fi¢ed propety i5 excluded frorn the financial Statements in occord8iiee with section 10(2) {¢) of the Chariti¢s Act 2011. No value is placed on rnovable church fumishings held by the churchwardens on special trust forth¢ PCC and whieh require a faculty foi'disposal, since the PCC considers this lo be inalienable property. These movable church furnishings are listed in the Church Inventory which can be inspected Bt the Chu￿￿ Offi¢e. All exp¢nditure incurred during the year on consecrated or beneficed buildings and n?ovfible churcii fvrnishings, wl)¢ther maintenance or improvement, is written off wheii incurred. Oiher lomglblejlxedossets Other tangible fixed assets are stai¢d at ¢()st less depreciatioii and provisions for impairnient in value. Depreciation is provided, oll a straight-lin¢ basis, for &ll tangible fixed assets at rates calculated to write off the cost over Ih¢ir expected us¢fi21 economie lives, as follows- Fixtures & fittings, church equipment, catering fixtures ortd office equipment- 20.000/0 Computer equipment.. 1.6 C¥Yrent Assets Book &loeks Book slo¢ks are valued at the lower of cost and net re&li5able vhlve. Debiors D¢btors repreS￿)t amounts due to the ehurch and prepayments. They ir¢ recogni5ed at either th¢ s¢ltlen)¢nt or p*ep¥id amount. shor1-ter￿• b14rtk depttslts These comprise bank deposit accounts with a mahtrity of I￿5 than one year held for investment puip05es (rather than for operational casli management purposes). 15

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFf AND ST ETHELBURGA BISHOPSGATE AND ST MARTtN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the yeAr ended 31 Detember 2022 Cftsh haiik Cash at baiik and in hand includes cash in hand, bank current accoiints and ca5h-equival¢nt bank deposits held for operationHI cash managen)ent purposes. The eash equivalents have niatsrities of no Inore than 3 months. Fltsartelallhslnimertts Th¢ gnly financial inslruments held by the PCC are basic financial instruments such as cash or cash equiva1￿1t$, otlier d¢btors, trade ¢r¢ditors and accruals. These are initially recognised at tlieir transaction Yalu¢ and subsequeiiily measured at tl)eir fair value as at the balance sheet date. 1.7 Taxatlo The church, as a i'egistei'¢d charity, is geneially not liable to taxation on its surplus or capital gains. It is no( however. exempt from VA T. Cert8in of the church's activities are exempt from or outside th¢ scope of VAT. Accordingly, the chur¢h is unable to reeloim all input VA T suffered. Irrecoverable VA T 15 included in the Cost of those itenis to whi¢h it relates. 1.8 Operating Leases Refttals paid under operating leases ￿e charged to the Statement of Financial Activities on a stratght-line basis over the temi of the lease. 1.9 Going Concern After making appropriate enquirie5, the PCC members have a reasonable ￿p¢￿tIOn that the church has adequate resources to continue in operational existence for the next twelve month5. For thi$ reaso￿ they continue to adopt the going concem basis in prepai'ing the financial slalements 16

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the yevdr ended 31 December 2022 Income from doiiAtions and legaeies Unre$ti,l¢t¢d R¢strfficl¢d T&tal thhd5 Totsl funds nd$ funds 2022 2021 Donations via Gift Aid liicgnie tax recoverable Oth￿. lax efficient giving Tjust income General collections and donaiions Govemment grartts Othej. grant income Leg8eies 1,487,675 372,531 1,140,514 28,118 155.215 70,512 19,391 36,667 15,000 13,198 1,558,187 391,922 1,177,181 43,118 168,413 1.637,260 411,328 1,326,388 3,568 235,364 598 4,500 155 8,247 12,747 155 2,500 701,000 3.188,708 163,015 3,351,723 4,318,006 Exeeptlonal Income Otlier tax efficien¢givin8 above includes a donation in exeess of e.£657,000, which has been r¢tained in the General Fund Grants Retelvable Th¢r¢ was no Government grant incoine in the year (2021.. £589 ui)der the Listed Places of Worship s¢h¢ine). other 8rat)t inconie received during the year aiiiounted to £12,74712021'. £2,500) and omprised.. £2,000 from Merchant Taylors- unrestricted,. £2,500 frnm th¢ Burial Ground Fund for general ¢ccl¢siastical purposes. £8,247 frojn Grosvenor Rd Baptist Church, to suppoil the London Gospel Partrter5hip. Other Buildings insurance (excluding terrorism insurance) is paid foi. from funds applied on the advice of the City Churches Grants Committee. Income from ch*rltable 9e(ivities Unrtstrleted funds Restrletod funds Totgl funds 2022 Totil fllnds 2021 Donalions towards eatei'ing ¢05ts Charged calering sales Book and Inedia sales RML workbook sales Book royalties Weekends awgy and confcrenees 745 64,911 12,471 1.041 1,348 377,439 745 65,268 13,3S3 1,041 1,348 398,250 5.425 31.680 6,687 1,695 1,733 227.973 357 882 20.811 457,955 22,050 480.005 275,193 17

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGA TE AND ST MART￿ OUTWICH AND ST MARY AXE Notes to the Financial Statements For the year ended 31 Deeember 2022 4. Ineotne from otber tradlllg activitles I3￿￿¢strICted funds Rtstrieted funds TTrtal funds 2022 Total funds 2021 Parochial Fees (weddings and baplisms) Hire of ehurch premises Other rental income 6.809 625 123,004 6,809 675 123,004 6,557 2,750 105,743 50 130.438 50 130,488 115,050 3. Investme￿¢ All￿me Unr¢strict¢ funds Restricted Totpl fu￿dS funds 2022 Total 21ni Bank interest 19,745 19,754 5.787 6. Other income Tolal funds Total funds 2022 2021 Unrestrlcted fund5 Re5trltted funds Rights to Ilght & olhEr exceptional iiicome Sundry income 12,500 33,428 33.428 21,220 21,220 54,648 54,648 59,508 72.008 18

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW LfNDERSHAFf AND ST ETHELBURGA BISHOPSGATE AND ST MARTJN OUTWICH AND ST MARY AXE Notes to the Financial Statements For tlie year ended 31 De¢embei' 2022 Expeiiditure on ehA Yitable &etlvities 7.1 Gr8tt1 payments Total funds 2022 Unreslri¢t¢d funds R¢strlcted nds Total tsnds 2021 103,351 Missionary giving 103,351 105,730 102,477 UK Support ifj,(K)o 12.477 91.667 16,9)4 Training for Ininistry Other givin¥ 10,000 2&904 14259 3,356 1,548 4.904 14.817 Tot81 Rrant payments 230 473 Missionary givRnE East End Outrcach Cmsslinks InterSe￿e East Asian Ministy OMF French-speaking Europe Sub-SahaTan Africa George Whitefield College 1,862 100 8,640 18,000 17,400 31,728 23,000 5,000 8,640 18,000 19,200 35,107 22.404 8,640 18,000 19,200 35,107 22.404 103.351 103,351 105,730 UK Support Grant lo St PeleTruport- Coi'nhill UK Mission 57,477 57,477 46,500 45,500 i 0,000 55.500 46,167 102 977 112977 TrAlnlng for MI￿lStry Mandarin ministy 504 504 5,859 Bangladeshi ministry Other ￿tUre ministry support 11,000 1,000 I 1,000 10,000 19

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFf AND ST ETHELBURGA BISHOPSGA TE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For ihe year ended 31 Decembej. 2022 Expendltuiy on chari¢ible activltles (eontinued) 7.1 Grant paynients (continued) Othei. glving Hardship Fund 1,060 1,060 590 Other 3.356 488 14,227 4,904 The grant to the PCC of St Peter upon Cornhill was to help il meet its Diocesan Coinmon Fund and other operational costs. 7.2 Ministry costs Unrestrleted hd$ Restrleted Total funds Total ￿ndS funds 2022 2021 Diocesaii Comitton Futtd 44.400 44.400 44.400 Mlljislry Expa)s¢$ 2,010,113 203.058 2213.171 2,035,953 Ongoing Buildtng expenses 238,540 1,738 240278 82.233 Costs of evrJ)t$ and additional activities 607J99 31,232 638.631 355,138 Other direct ministry costs 131,848 38,402 170250 147,535 Allocated Support costs (Note 81 738 49 84 744 633 728,353 Tot41 mln15try cosls 3 770 648 280 714 4051362 3 393 612 Dkntesatt Common Fund Dioc¢spn Common Fund 44.400 44,400 20

THE PARISH OF ST HELEN BISHOPSGA TE WITH ST ANDREW TJNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the ye&r ended 31 December 2022 Ministry E%penses Ministry staff ￿lari¢S and social s¢curity costs 1.461,129 159,084 1,620,213 1.413,343 Ministy staff p¢nsioD wsts 215.166 13,792 228,958 210,218 Ministry staff expens¢5 61.175 6,465 67,640 67,053 Ministy staff trainkng 17,659 23.700 41.359 12225 Ministry trainee grants 1.800 1,800 600 Ministry trainee traitting 6,749 6,749 15,280 Ministry trainee expenses 6.209 6,226 4,579 Ministy trainee accommodation costs 79,700 79,700 97,646 Clergy accommodation costs 160,526 160,526 215,009 2,010.113 203 058 2,213,171 2 035,953 The cost of providing aecommodatioh for miiiistsy trainees for the year was £79,7(K) (2021.. £97,646). This was offset by Tent re￿Ived froni trainees, whs¢h amounted to £81,869 {2021.. £93,891), giving a net conts'ibution foi. th¢ year of £2,16912021.' nel cosi 3,755). Ollg(tylng Bulldlng expenses Church building & office i￿nn]ng costs 147,377 37 147,414 76.915 Church building renovation 91,163 91,163 3.S05 Book shop wnning costs 1,701 1,813 238 540 240 278 Church building costs of £147,414 were substantially hiBha' than in 2021. Tnainly due to th¢ ne¢d to refui'bish our own properties so that they pi'ovide a more a¢ceptable 5tandai'd of accommodatson. Ch￿r¢h building renovalion costs of £91.163 repr¢s¢nt the cost of new chairs for the St Helen's building.

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW LfNDERSHAFT AND ST ETFIELBURGA BISHOPSGA TE AND ST MARTtN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the yeAr ended 31 Dectmber 2022 Unrestricted Funds Reslricted Funds Tot#1 Funds 2022 Total Funds 2021 Cost of events and additional activities Book and media purchases 12,910 lJ52 14.262 10,353 RML workbooks 1,578 1.578 2,210 Cateriiig expenses 119,958 2,016 121,974 69,136 Cateiing fixtures & fittings depreciation 130 130 270 Weekends away 427.663 17J35 444.998 236,108 Other evenls and activities 42.615 10,529 53,144 35,568 Church equipment depr¢cialion 607 399 638631 355 138 Other dlreet mlntstry tos1$ Speakers. honoraria 4,8S5 661 5,516 3,465 Cleaning housekeeping 9,477 199 9,676 8,090 Ministsy venu¢ and office rent 117516 37.542 155 058 135980 131848 170250 147 535 8. Support Costs Unrestricted funds Restrlcted Total fuNd& Total funds lunds 2022 2021 Mlnlstry support staff costs Salaries and social security 505J61 505,361 448,166 Pensioii costs 71,470 71.470 65.153 Expenses 10242 10,242 .256 587,073 587,073 S21,575 22

THE PARISH OF ST HELEN BISHOPSGA TE WITH ST ANDREW UNDERSHAFf AND ST ETHELBURGA BISHOPSGATE AND ST MARTtN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the year ended 31 December 2022 8. Support costs (continued) Offlte ¢osts Printing. postage and stationery 10,222 10,222 5,422 Offi¢e maintenance and insurance 19,233 19.233 18.217 Telephone and data 16,202 16,202 17,576 Cott)puter and website expenses 38,731 1.204 39,935 38,280 Computer equipment depreciation 4,124 4,124 9,824 Offi¢¢ ¢quipin¢nt depreciation 3.357 3J57 3,194 Other offiee costs 3.896 3,896 95.765 1,204 96,969 96,325 Profe551on41 oiher costs Consuliancy fees 25.447 4,803 30.250 81,447 Parochial fees 2,616 2,616 2,868 Payroll agell¢y eharges 2,698 2,698 2,547 Bank charges 12.080 277 12,357 8,981 Audit fee 14.610 55,511 5,080 60,591 10,453 Total support costs 738349 744 633 728.353 Allocatiom of Support Costs: Ministry costs (Not¢ 7.2) 738,349 6,284 744,633 728,353 Tot41 sUPPOrt ¢•$ts 738,349 6.284 744,633 728.353 23

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGA TE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the y¢*r ended 31 December 2022 9. Total Expenditure Staff costs Depiyelatlon Other costs Total fuTrdB Total thnils 2022 2021 Grant payments (Note 7.1) 247,636 247,636 230,473 Ministry ¢ost5 (Not¢ 7.2) 2,213,171 2,675 1.090.883 3,306.729 2.665,259 Mtnislry suppoit costs 587 073 7,481 150,079 744 633 728.353 2 800.244 10,156 1488 598 4.298 998 3 624 085 2022 2021 St¥ff costs Wages and salaries 1,92S311 1,696,236 Social security ¢osts 200,063 165,273 Pension ¢osts 300.428 275.372 Cost of ministy trainee sehemes 94.475 18.105 Staff expenses (in¢l. accommodation eosts) 279 767 302,542 2 800 244 2 557.528 2022 2021 Othtr eosls Grant paym¢t]ts 247,636 230.473 Diocesan Conimoii Fuhd 44,400 44,400 Office ¢05ts 96.909 96J25 Premises costs 405,013 226303 Cost of events, w¢ekends away and additional activities 636,085 353,645 Professional wsts 60,591 110,453 Miscell￿)¢0￿5 cost5 (includin8 depreeiation) 1,498,754 1,066,557 24

THE PARISH OF ST HELEN BISFIOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSOATE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the ytHr ended 31 Deeember 2022 Pension c05*s Pension costs include £247,088 (2021.. £226,655) of contributions made to a defit)ed Contribution Scheme At the end of the year, a liability of £26,423 (2021: £22,396) was recognised for this schem¢. The remaining £53,341 {2021.. £48,717) of pension cost5 comprises.. A) contributiojis of £49,266 (2021.. £48,717) to a d¢fined benefit scheme operated by th¢ Church of England Funded Pension Scheme for the 6 (2021.. 8) members of clergy allocated to St Helen's forthe whole or part ofthe year. £1,666 (2021.. £10,000) Wa5 re¢haiEed to another ¢hur¢h in respect of on¢ minister who works full-lime foi. that chur¢h. This s¢heme had been ID deficit for some time but the PCC'5 share of the related liability in respect of l (2021..1) m¢inb¢r of clergy had not been included in previous accounts because it wa$ immaterial. The lat¢sÈ valuation of th¢ scheme, at 31 De¢ember 2021, found that the scheme is now in surplus and that there is, for the time b¢ing, no liability (2021.. £2,000). B) £4,075 (2021: Nil) in respect of l {2021.. 1) part-t11￿e member of the cleigy who is employed by anoth¢r organisatÈon which charg¢$ an appropriate p17)portion of his employment ¢ost$ to St Helen's. Employee numbers The average number of full-time equivalent employees, analysed by function, was: Church activities.. 33 (2021.. 32),. and Ministry support: 18 (2021.. 16) - Totsl.. Sl 12021..48) Hlgher paid 514ff Th¢ tabl¢ b¢low show$ the nutnb¢r of high¢r paid stsff with emoluments falling in the following ranges. Emolument$ include salary and taxable benefits in kind and other PAyments to employees. 2022 2021 £70,000 to £79,999 Contributions paid lo a inoney pur¢hase scheme on behalf of higher-paid staff during th¢ year amounied to.. 10.450 10,157 10. Transfer5 between general and offsite ministry funds Transfers between unrestricted funds and offsite ministry and re$rri¢i¢d funds were as follow5.' 2022 2021 Expensts & Staff Portlort of costs Costs tovered by fuNd5 rRised or h¢ld Totfil TotAI East End Outreach Covent Garden Talks Gospel Partnership Mission-minded Conf¢ren¢e Total transfers b¢lw¢¢n funds 83,962 43,338 (20,296) 63,666 (35.598) 7,740 25,019 37 70 59 127,359 59 71,465 25

THE PARISH OF ST HELEN BISHOPSGA TE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For tlie year ended 31 December 2022 I A. TAngible fixeil assets Mliii51 Citerlng eqmlpment Church Offlce Computt fittlngs And flttlngs equlpmenl s￿bt0(Al tqulpment equlpment related Flxtures Tot*1 Cost or valiiaÉion At begiiini118 of the year 116,335 175,561 291,896 71.623 85,511 449,030 Addilioi)s 2,609 2,609 2,875 5.484 DisFK)s8ls At the end of the year 118,944 175 $61 294 505 454514 Depreciation and imp2imients At begimiin8 of the year Depr¢¢ialion ¢harge for the year Disposèls 116,287 16S,000 281,287 60208 78,251 419,746 130 2.545 2.675 3,357 4,124 10,156 At the end of tli¢ year 116417 167 545 283 962 Nei botsk value ot the b¢giMinu of the year 48 10,561 10.609 1.415 7,260 29.284 Nel book valu¢ at the end of the yeai. 2,527 8.016 10.543 6.011 24.612 12. Book Stock 2022 21121 Books for re$8le 10,632 9,730 26

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGA TE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the year ended 31 December 2022 13. Debtors 2022 2021 Income tax r¢coverable 83,588 63.080 VAT r¢cov¢r8ble 3.535 Prcpaymenls 77,883 141,815 Accrued income 29,858 742.359 . Current accounts with I'¢lat¢d parti¢s 315 13 Other debtor$ 213,044 968,695 Accrued income in 2021 included £700,000 receivable in r¢spect of & legacy, the majority of th¢ funds for whicl) were i'¢¢eived in 2022. 14. Credltors: Amount5 falliiig due wlthin one year 2022 2021 Trade creditor5 62,306 20,164 Taxation and social 5¢writy costs 42,160 41,396 VA T payabl¢ 7.697 Other creditors 66.762 51,688 Annual leave accru41 38,371 34,012 Ac¢nJals 82,136 50,142 Deferr¢d ii)come 39,228 51,282 Curent accourjts with related parties 705 338,660 249,389 27

THE PARISH OF ST HELEN BISHOPSGATE ￿TH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the yeAr ended 31 December 2022 15. Resti'icted funds A) Cvyrent Year At l January IncomliiE 2022 r¢sourtes Expendltuyt Al 31 December 2022 Tratt$fer$ Church Plai)tin8 Fund {forn)erly knowii as the Re'.GENERATION Appeal} 7,525 7.525 SIM Bangladesh December Carol Services 122 (122) U-Turn Appeal (South Afriea) 250 250 Latvian Ministry 435 435 East End Outreach 20,296 (83,962) 63,666 Covent Garden Tolks 3,758 31.840 {43,338) 7,7¢10 Mission Pailners-south Africa 200 200 Paddinglon Talks 14.008 3,787 (1.916) 15,879 North BishopsBate 26.861 12,473 (22,378) 16.956 Music Student Ministry 33532 9.275 (13,603) 29,204 Mandarin Ministry 18,684 15.885 {10,000) 24.569 London Gosp¢I Parthership 6,203 27,760 {31,905) 2.058 Mission Minded Conferenees (59) 59 Sp¢¢ial Collections 109 3,426 (36S) 3,170 Media Fund 1,068 (264) 804 IGG ministy fithd 4,625 1,500 6,125 W¢¢k￿d Away Bursary 12,602 3,230 15,832 Hardsliip Fund 3,720 (1,358) 2,362 Th'aince Christian Leaders 25,000 56,250 (75,000) 6,250 City Ev¢nls 657 (657) City Suminer School Bursary 19.834 (17J35) 2.499 158,580 206,335 {302,262) 71,465 134.118 28

THE PARJSH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFf AND ST ETHELBURGA BISHOPSGA TE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements Foy tbe year ended 31 December 2022 Church Plantll1 Fund: No projects were supported in 2022. we &Ypect ￿tUre church-plantins opportunities in the coming years. e East End OuireAch Fund: This supports the spread of the Gospel in the East End of t￿idOn. Post-covid, we are reviewing the best location foi. thi5 work. llsing locally-hired premises. In 2022, the fund operated with an incre8sed deficit of £63,666, as one-off, lump si)ms received in 2021 were not repeated iii 2022. The deficit was covered by a transfer froin the Geneial Fund. Offsite m%nistries.' C v nt G rden Talks.. The t)iinistry grew dwing Iheyear but this gi'eater activity came at a cost, with higher venue hire, eat¢ring and staff costs outweighing an iiicreas¢ of £3,000 ii) donation in¢onie. The deficit for the year amounted to £l1,49812021.. £9,987) and was cov¢rcd by a trahsf¢r froni General Funds. Nort . The ministry expanded in theyear. Part ofthecost ofwnothermember of staff was allo¢atcd to the ll)inistry during th¢ year to suppoil the expansion and, a5 mor¢ nieetings were lield, v¢nue hir¢ costs also increa5¢d, bringing total costs for the yeai. to £22,378 {2021.. £14,484). Ineoin¢ ainounled to £12,473, down from £23,283 in the pievious yeai.. The outcoine for th¢ year was a deficit of £9,901 (2021.. surplu5 £8,799), bul the sui'plus brought forward was sufficient to absorb it. Th n T Iks.. T]ies¢ are run iii collaboralioj) with St Steph¢n's, Westboume Park. In 2022 inc¢tings began in person, inci'easing costs. but the ￿nd r¢maincd in surplus at 31 D¢c¢mb¢r. inis Ojnd supports Gosp¢l outr¢a¢h to musi¢ srnd¢nts in London and the ti?ining of i)iusie1￿1$ fol. Jiiiiiistry woi'k. Tl)e thi)d bei)efJts fi'ojii a fairly sl¢ady sts-eai)i of doiiatiol) til¥oin¢, although their was asmall reduction in one-off gifts in th¢ y¢ar. The costs allocatd lo the fvnd represent an approprhat¢ proportiott of eniploymth)t costs of twg ministry worka's. The thnd incurred a deficit for the yeai. of £4.328 {2021'. £2,309) but the oveixll baI￿let remains in sujplus. Mandarin Minisi fvnd.. this fvnd supporf5 ministry for Il)e benefit of Mandarin speakers, by making grants to an oi'ganisation that Works alongside St Helen's in this 21'ea. In 2022 a grant of £15,000 was made, of whicli £10,000 was allocated to this restricted ￿nd and £5.000 to the General Fund. The fijnd had a suyplus of £24.S69 at eiid of the year. London Gos el P nershi Thi5 fi]nd represents the main activities of the London Gospel Partnership (conferences and mission). The income received in 2022 was sufficient to cover LGP'S rui)ning costs. During the year wort( began to establisli ihe LGP as a sepat7te CIO (charitable incorporated 0i.ganis&tion), which is expected to happen in 2023. The ￿nd had a surplus of £2.058 at 31 December 2022. M¢di Futid.. In 2019, the PCC received a substantial donation to help Sl Helen's to manage and expand its media Tesow'¢es including asi app to alloiy mobEl¢ a¢c¢s5 and more audio books. Most of the work is complele. In 2022, a fi]rther £264 was spent, leaving a balance of £804 at year end. temation l Gro￿￿h Minis nd.. these groups equip swdents and oihers from overse to live for Clyisl wlieii they return home). The fvnd continues to bei)efit from rcgulardoi)ations, resulting in a balance of £6,125 being can'ied forww'd foi. fvture use. The IGG ministry team is sttking to identify SLlitAble expenditure which can be allocated to the fvnd. Weekend Awa Bursa This fi]nd re¢¢ives donations to provide bui3ories for those of limited means to attend weekends away. The cost of bursarie5 granted is traiisferred from this fund to the General Fund. In 2022, income received inlo the fund amounted to £8,295 and the costof bursaries granted wus £,5.065. resulting in a nei incTease of £3.230, l¢avirtg a sui'plus of £15.832 to be caryied forward foi. future use. 29

THE PARISH OF ST HELEN BISHOPSGATE WITH ST ANDREW UNDERSHAFT AND ST ETHELBUROA BISHOPSGATE AND ST MARTtN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the year ended 31 December 2022 Hard$hi F Nd- This fund assists people who fall within the Charity's purposes and who are suffering significant flnancial hardship. The fund is administered by a smoll group of PCC membe1%. with applicatioDs for assistance being dealt with on a personal bosis and in sirict confidentiality. Expenditure in the year amounted to £1,358 in resp¢ct of4 claims for assistance. No income was received in th¢ y¢ar, leaving a balance of £2,362 to be earri¢d forword io ¢ov¢r futwe claims, rainee hristian Lea ers TCL '. This fijnd supports those training to be full-tiine Christian workers by combilling Ih¢ological trainillg and 'on the job. training, working as pait of a ministy team. Donations to support it are encouraged, and in 2022 amounted to £56,250. £75,000 was transferred to General Funds to cover part of the training and employment Costs of those on the TCL pro￿aMMe. A balance of £6,250 hos beet) ¢arried forward. Siitmmer Sehool Bursar The fund receives doDalion$ to enable low-paid City workers and stoff from Ivnchtime talks to Iitt¢nd the City Summer School. Tlie cost of bursaries granted is transferred frorn ihis fund to th¢ O¢n¢ral Fund 15. Restrleted funds (eontfinued) B) CompAr#tive Ye8r {202J) At I IneomlnE Expendilur Transfers JanuAry resour¢¢s 2021 At31 December 2021 Chuwh Planting Fund {fi>rmerly kDown a$ the R¢'.GENERATION Appeal) SIM Bangladesh D¢¢¢mber Carol Services U-Turn Appeal (South Africa) Latvian Ministy East End Outreo¢h Covent Garden Talks Mission Partners.South Africa PaddiTrgton Talks North Bishop$gat¢ Music Student Ministry Mandarin Ministry Gospel Partnership London Gospel Partnership Mission-minded Conf¢r¢nc¢s Special Collections Medi2 Fund IGG Ministry Fund Weekend Away Bursary Hardship Fund Trainee Christian Leaders 7,525 7,52S 669 (669) 250 435 17,729 13.745 250 435 35,647 28,918 200 4,414 23,283 9,863 17,660 (78.395) (38,905) 25,019 3,758 200 14,008 26,861 33,532 18,684 9,603 18,062 35,841 15,283 (9) (14,484) (12,172) (14,259) (37) (5,744) (70) (10,558) 37 4,591 7J56 6203 10,667 500 ,300 3.303 109 1,068 4,625 12,602 3,720 25.000 568 3,125 9,299 4,310 (590) 25,LN)O 140,366 168,980 (175,892) 25,126 158,580 30

THE PARISH OF ST HELEN BISHOPSGA TE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the year ended 31 December 2022 C) DeslgnAted Fund At I JAnUary Ineomilng 2022 Resources Expendlture Transfers At31 Deeembey 2021 Strattgit Reserve Fund 1,200,000 (250,000) 950,000 During the year, the PCC received a donation of £657,000, which has been retained in the Gefteral Fund. The PCC has decided to h7nsfer £250,000 from the designated Strat¢gic Reserve Fund to the General Fund, to support ministry expansion under its 2030 Vision obje¢tives, particularly its Trainee Christian Leaders programme. 16. AMalysi5 of net assets between fiEnds Fund balAiiees al 31 De£emb¢r 2022 Art Y¢presente(I by: Tangible fixed assels Curirnt ssets Cllyrent Il#bllitl¢s Total Funds Unrestricted Funds General Fund 2,281.000 (338.660) 1,942,340 Desigiiated Fund (Strategic Resetve) 950,(M)O 950,000 Fixed Assets Fund 24,612 24,612 Toiol UmreslrlcledF￿H1ts 24,612 3,231,IKIO (338,660) 2,916,952 Restrieted FyDd$ Offsite ministries 32,835 32,835 W¢¢kend Away Bursary 15,831 15.831 Musie S￿dent Ministry 29,203 29.203 Mandariii Ministry 24.569 24,569 Otlier Reslricled Funds 31,680 31.680 ToittlReslrlcled Fullds 134,118 134,118 Total FuNds 24,612 3,36S,118 (338,660) 3,051.070

THE PAIUSH OF ST HELEN BISHOPSGA TE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTtN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the yevdy ended 31 Decembei. 2022 17. Rel¥ted Party Disclosures TransAetlon8 wlth PCC members and Key Management Personnel (KMP) During theyear th¢r¢were 51 PCC members (2021.. 51). Thes¢m¢mbers, alongwith clos¢ family Inembers, donAted £769,811 (2021.. £846,273) to the PCC. No sole PCC n)¢mb¢r l)¢ld corttrol or significgnl ii)fluen¢e over the affairs of the PCC during the yeai., noi. was any mets)ber of th¢ PCC dui'ing ihe year remun¢rat¢d for being a memb¢r. No expenses ivere reimbursed to the PCC ￿￿1)betS in the coui'ge of theiy roles as n)embe¥s. Five (2021.. 5) rton-clergy membeiB or Ilieir c105e family were reimbursed trav¢l, 5ubsist¢nce and other expenses amounting to £3,839 (2021.. £2,540) dui'ing th¢ year. The PCC had one nien)ber (2021-.1) wl)o was also an employee of the PCC. The PCC had 3 {2021.. 3) member5 who each had clos¢ family members who were employees of the PCC. The aggregate remuneration paid to these employees in the year amounted to £103,129 (2021.. £110,167). membe￿ of the clergy are not en)ployed by tl)e PCC but by the Church Commissioners. The remuneration of the clergy is in accordance with the Stipend Scale for the Dioc¢s¢ of London and the PCC reimburses the majority of their employment costs via the Diocese of London. Tn kddttion, ordained Clergy are provided with living accomrnodation as part of the I'equirements of th¢ii' rol¢. During the year 6 PCC members {2021'. 8) were part of the ordained clergy. The aggregat¢ amount reimbursed during the year to th¢ Dio¢¢se of London in respect of 4 (2021.. 6) of those PCC niembers Qtnount¢d to £160,900 (2021.. £155,041). The cost of another meniber of the ordained clagy was reirnbursed to ai)oth¢r body and amounted to £41.486 {2021'. £42,176). The remaining membei. was unpaid. Mie PCC iR¢urr¢d 8e¢ommodation costs (rent, ¢oun¢il tax and iitilities) during the year in respect of the clergy members amountillg to £108,829 {2021.. £130,205). No removal and reseitlement grnnts were made clergy members dui'ing the year (2021-. £11.380 to 2 cl¢rgy members). During the year, the rotal of specific niinistry costs reimburscd to clergy meinbers or mellibcrs of their close family emouiited to £6.448 (2021- £5,871). Payments amounting to £9,985 (2021.. £20.977) were made to one (2021.. 1) clergy Inember by way of pastoral SUPPOTt to him and his family. The PCC d¢fines KMP a$ 5 (2021.. 7) seiiior ¢lergy members. the Parinership & Projects Team Leader. the Operations Martag¢r and one ordained ministy1¢2der who is an employee. The pay, benefit5 and expe115es of the clergy are dealt with above. The pay and benefits of the other key managernent personnel are set annually by the PCC'S Finpnce Comrnitt¢e. in relation lo the chur¢h's salary bands and the individual needs of th¢ employee. Salary bands ar¢ b¢nchiMarked agaii)sf other ¢hariti¢s, ChU￿h¢S and key workei. iy)les on a peri(>dic b85is. In 2022 the KMPS who wei'e not members of ihe PCC, receiv¢d remuneration of £106,394 {2021.. £162,831). Th¢y a150 1'¢claimed ministry expenses, mainly travel 8Jid subsistcnce, from the PCC totalling £l.001 {2021.' £506). Transaetions with other related parties Pavoclilal Church CouDell of St Petev upon Cornhlll (SPC) (excepted from reElstra¢lon by the Ch¥rltles Commisslon) Si Hel¢n's PCC niemb¢rs Rev W Taylor. Mr B O'Dono¥hue and Mr S Con8don ￿)d Key Managen)ent Personnel, Rev H E#tts¢k-Taylor ai)d Mr J Barrirtgton were Inembers of the PCC of SPC tlirou8hout the year. During the year t]i¢i'e were on average 15 members of the PCC of SPC. Related p￿.[leS of St Helen's therefore controlled tnore than one-fifth of the voting power, so St Helen's and SPC are eonsideted to be related pa]li¢s. St Helen's use5 the SPC church building for vorious small group niinistries and to provide study space for Associates. No rent was paid during 9022 or 2021 by St Hel¢n'5 for this I￿¢. 32

THE PARISH OF ST HELEN BISHOPSGA TE WITH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGA TE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the yeAr ended 31 December 2022 Durii)g the year.. St Heleji's made grwits totsllinB £57.477 (2021-. £45,500) to SPC. St Helen's I'eceived fees of £1,000 {2021- £1,000) from SPC under an agr¢¢m¢nl for th¢ pi'ovision of bookkeepin8 ai)d accountin8 seivices. St Heleii's received £8J33 {2021.' £nil) from SPC as a contribution to the c05t of one of it5 employees who arried ou¢ work on belialf of SPC during the year. St Helen's InCu￿ed operating expense5 on behalf of SPC amountin¥ to £28412021.. £2,296) which wei'¢ recovered fi'om SPC. St Helen's did not ￿re1v¢ any donations on behalf of SPC dw'in8 tli¢ year (2021: £3,001). Dlek Lueas Trust (registered eharity 1074445) Si Helen's PCC n?¢mber Rev W Tayloi. was A trustee of ihe Diek Lu¢as Tn]st during the year. There wa'e 3 other thijsttts, and therefore a related party of St Helen's was entitled to exercise more thon one-fifth of th¢ voting power, so St Hclerj's 2nd the Dick Lucas Trust Are considered to be related porties. t￿rIng the year, St H¢l¢n's recorded irtcoibe of £30,000 (2021.. £nil) from the Di¢k Lucas Trust as a contribution io the cost of orte of its employe¢s who Carried out worfc on bthalf of the Trust during th¢ year. 18. Transactions M'ith other relei'ant charities Gospel Support & Homes Trust Ltd (GSHT)-{formerly GreAt StHtleTh's Tr￿51)- (reglstered charity no. 10899ft9) PCC membei. Mr B O'Donoghue is a tNstee of GSHT. GSHT provides support for Christian mirAiStry in London, including important operational support for St H¢len's During the year: GSHT provided living aceommodalion for 2 clergy Inenibers of the PCC (2021..3) and for mtnisty associates and staff m¢illbers. The tot81 rent paid for th¢ year was £175,800 (2021.. £207,107). GSHT piovided office and shop spac¢ to S¢ Hel¢n's. The rent paid to GSHT during Ihe year in respect of this amounted to £134,303 (2021.. £114,900). GSHT incurred the annual stipend costs of the Rector IPCC member) and recharged IhAt cost to St Helen's.. £32,220 {2021.' £32,220) Puroehlal Church Ctsuncll of St Ml¢h#¢l Cornhlll (SMQ (Yegistered ¢harlty no. 1179240) St Heleii's has close links with SMC, but does not have coi)trol over its activities. Dui'iiig the year Rev H E2tock-Taylor, Key Managemei)I P￿sOnnel of St Helen's was Chair of the PCC of SMC and Priest-iii- Charge. Rev A Balch was a member of the PCC of SMC and also a Inembei. of th¢ St H¢len's PCC. MIB J Taylor, wife of Rev W Taylor, Chair of St Helen's PCC. was a membei. of th¢ PCC of SMC. Dui'ing the year theje were on average 18 meinbeis of the PCC of SMC and theirfore related parties of St Helen'g did not wi?trol niore than ontrfifth of the voting power, so St Helen's and SMC are no¢ consid¢r¢d to be related parties. 33

THE PARISH OF ST HELEN BISHOPSGATE wrrH ST ANDREW UNDERSHAFT AND ST ETHELBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the year ended 31 De¢ember 2022 During the yew.: St Helen's in¢urred operaiÉi)g expenses OT] behalf of SMC 8mounting to £18 {2021.. £13), whieh will be recovered from SMC. Sl Hel¢n'5 has entered into an agreement with SMC to provide bookkeepiiig and accounting services for an a]inual fee of £2,00012021.. £2,000) St Helen's pvovided the services of212021..4) oilained clei'gy to lead the ministry aist Michael's. No charge was made for these services. 34

THE PARISH OF ST HELEN BISHOPSGA TE WITH ST ANDREW UNDERSHAFf AND ST ETHELBURGA BISHOPSGATE AND ST MARrrN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the year ended 31 December 2022 19. Statement of Financi&l Activities (for th¢ prior year). Unrestricted Designated 2021 Restricted TolHI Funds Further fuTrd5 2021 Funds 21121 2021 delalls Income endowments from: Donations and legacies 4,164,650 153.356 4.318,IH)6 Chai'itable activities 271,281 3,912 275,193 Oth¢r trading a¢¢ivi¢1¢5 115,OSO 115.050 Inv¢stm¢nr$ 5.787 5,787 Other income 60,296 11,712 72,008 'otal income 4,617,064 168,980 4,786,044 Expe￿dIt￿re on: Charitable actiyilies 3,448,193 175,892 3.624.085 Total expendSture 3,448,193 175,892 3,624,08S Net Ineome/txpendl(ure 1,168,871 (6,912) 1.161,959 Transfers bebveen funds (1,22S.126) 1,200,000 25.126 10 Net movements funds (56,255) 1,200,000 1&214 1,161,959 RefontS1iatiDn Of funds: Total funds brought fonvard 2.011,134 140.366 2,151,500 Tot41 fMDds Carrled forw4Yd ,954,879 1,200,1)00 15&580 3J13,459 35

THE PARISH OF ST HELEN BISHOPSGATE ￿TH ST ANDREW UNDERSHAFT AND ST ETHFLBURGA BISHOPSGATE AND ST MARTIN OUTWICH AND ST MARY AXE Notes to the Financial Statements For the year ended 31 Deetmber 2022 20. Operatihg Le*se Commitments Ai 31 De¢ember 2022 the total of the PCC'S futut¢ minimum le&se paym¢nts under non-can¢¢ll8bl¢ operating leases (for rented propeJlie5) wa5.. 2022 21121 Amounts payable: Within l year 93,455 74,518 W5thin 2 to S years 100,875 2.875 Total 194,330 77,393 21, Other Commltments Ai 31 D¢e¢mber 2022. there was a material outsi¥nding ¢ommitsnent to purchase ¥¢placeinent ¢hur¢h bibles at a wst of £24,00012021.. £iiil). 22. Contingent Assets At 31 De¢ember 2022, theie weie iio continMent assets (2021.. £Nil) 23. Bequest of freehold propertles As reported itt the 2019 Financial 5ts1em¢iit5, t]ie Rector Alld Churcl)w&i.dens of St Helen's, Bishopsgpte were informed in October 2018 tl)at they l￿d been left a legacy of threeproperties in the East End of Loiidon, the aggr¢gate rnarket value of which is estimated at arowid £2,000,000. The properties were left to the R¢etor and Churchw8rdens of St H¢lerts, rather th2n to the PCC as a body. At its meeting in February 2021. the PCC agreed io put in place a legal agreement so that the day-to-day managemeni and upkeep of the propeities is (>v¢rseen by th¢ PCC at Its cost, in ieturn foi. use of the houses at)dlor any rental ineome. During 2021, the PCC reeeived final confirmation that the relevant Dio¢e54n Authority, the L(Trndon Diocesan Fund (LDF), in its role as Custodian Trustee under the tenns of ihe Ineumbents and Chur¢hwardwis {Trusls) M¢asur¢ 1964, as amehd¢d. had acqutred the freehold of tliese properties. Under this aiyangement, the Rector at)d Cl)urchwardens become the Managing Trustets for the properties. As the PCC has no legal title to these properties, it is of the opinion that they do not fom part of its accounthhg records. 36

Chai'ity Ilegisiration Nujnber 1131501 Independent Auditor's Report to the Parocliial Chur¢h Council of the parish of St Helen Bishopsgate with St Andrew Undershaft and St Ethelburga Bishopsgate and St Marlin Outwich and St Maiy Ax¢ Oplnlo We have audit¢d the finan¢ial stolemet)ts of St Helen's Church for the year ¢nded 31 December 2022 which comprise the Staten)ent of Financial Activities, the Balaiice Sheet: the Cash Flow Statement and notes to tl?e fiiiaiicial staieiiieiits, including a sunimary of sigiiificant accouiiting policies. Th¢ fiiiancial reporting framework that has been applied in their preparatiotl js applicable law and Unitcd Kiiigdom Accounlin8 Standards, ineluditig Fi118ncial Reporting Standard 102 Tlie Finai)eial R¢porting Standard applicable in the UK and Republic of Ireland (United Kingdom Geneimlly Accepted Accounting Practice). In oui. opinion the finaiicial stateinents: give a true aiid fair view of11)e slate of thc church's affairs as at 31 December 2022, and of it5 incoming resources aiid application of ￿89￿rceS, for the y¢ar then elided; liave been properly prepared in accordan¢¢ with United Kingdom Generally Acc¢pl¢d A¢counling PractÉce' and l)ave been prepred in accordBI)ce with the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with International Standards oil Auditing (UK) IISAS (UK)) aiid applicable law. Our respon5ibililie5 under those staiidards are fvrrh¢i' de5¢ribed in tl)e "Auditors, responsibilities for the audit of the finat)cial staienients" se¢¢ion of our report. We are independent of (he ehurch in accordai)ce with the ethical requirements that Are relevant io our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical iesp(>n5ibilities in accordafte¢ with the5¢ requirements. We believe that th¢ audit ¢videhce we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conelusions irlati118 10 going conceim We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you, where.. the PCC Members, use of the going con¢¢m basis of accounting in the preparation of the flnancial statements is iiot appropriat¢; or th¢ PCC Meinbers have not disclosed in the financial 5tate]iieiits arty identified material uncertainties that may cast Significant doubt about the PCC'S ability to continue to adopt the going conceri) basis of accounting for a period of al least twelve months from the date when the r]nan¢ial slat¢m¢nts ar¢ auiliorised for issue. Otlier information The PCC Members are responsible for the other infonnation. Th¢ oth¢r infonnation comprises the infomatiot) included in the annual reky)rt. otiier than the fiivancial statements and our auditors, report thereon. Our opinion on tlie fsnancial 5tat¢m¢nts does not cover the other inforniatioll aiid, ¢xc¢pl lo the extent othenyise explicitty 5tal¢d in our r¢poi1. we do not express any form of a55uranc¢ conclusion Ihereon. In cottnection with our audit of the financial statements, ow. re5pon8ibilEty is to read Éhe otha. infon)iation and, in doing so. consider whether the other iiiformation is materially inconsistent with the financial statements or oui. knowledge obtained in th¢ 8udil or otherwise appears to be materially mss5tat¢d. If we identify su¢h nJot¢rial ineot)sistencies or apparent material misstatements, w¢ are required lo detcmine whether tliere is a Inaterial misststemenl in the financial statements or a material mi55tatemenl of the otha. infomiation. If, based on the work we have performed, we conclude that there is a material misstatement of this ot11￿. infoilnation w¢ are iequired to repoii that fact. We have nothing to r¢port in this regard. Matters on whleh wt al'e required to report by ¢xceplio We have i)oihing to report in respect of tlie following matters in rela(ioi) to wliicli the Chari¢ies {A¢counts aiid Report5) Regulations 2008 1'equir¢ us lo report to you if. ii) our opiiiion- 37

Chai'ity R¢gislralion Number 1131501 Independent Auditor's Report to the P3ro¢hial Church Council of the parisli of S¢ H¢l¢n Bishopsgate with St An(hrw Undershaft and St Ethelburga Bishopsgate aiid Sl Martin Outwich and St Mwy Ax¢ the information given in th¢ finan¢iil gtat¢ments 1$ inconsistent in any matetial respeci with the PCC Members, Annual report. or sufficient accounting record8 hove not been kept,. oi. the financial ststem￿llS are i)ot in agre¢m¢rtt with the accounting records. or we have not received all tlie infoirnatioii and ¢xplartations we require foi. our hudit. R¢5POllslbllltles of PCC Members As explained more fully in the "PCC MeMber.*' Respon.Yibilities" statement set out on page 9, the PCC Members are responsible for the preparation of financial statemeiit5 wliÉch give a tIlTe and fair view, and for 5u¢h iiit¢rnal control As the PCC Menibcrs deterniine is necessary to enable the prepardtiort of financial stat￿ne￿IS that are free frotn material mi55Éatem¢nt, wlieiher due to fraud or error. In pieparirtg lh¢ f￿￿e1a1 statements, the PCC Mgmb¢rs ar¢ itsponsible for assessin8 the church's abtlity to coiitiiiue os a going coneeni, disclosing, as BppIic8ble, matters related to going c()ncen) and using the going conca'n basis of accountiiig w)less the PCC Members ¢ith¢i' inl¢nd lo liquidate the chuich or to ceAse operations. or hove no r¢alisti¢ altemative but lo do so. Audltors, responslbill1i￿ for the avdlt of the fiNan¢lal stwlemenls We have been apwint¢d as auditors und￿. section 144 of the Chariti¢s A¢t 2011 and report in accoTdan¢¢ with regulations made under s¢¢tion 154 of that A¢t. Our objectives are to obtain Irasonable assurance about whether th¢ financial statements as a whole ar¢ fr¢¢ from Inaterial mi5Statement, whetlier due to fraud or eiyor. and to isslie an auditors, Teporl that include.5 oiir opinion. Reasonable assuranc¢ is a high level of assurance, but is not a guarantee that an audit ¢onducted in accordance ivith ISAS (UK) will always derett a material misstatenient when it exists. Misstatements can arise from fi'aud or error and air considered material if, individually oi. in tlie aggiEgate. they could reasonably b¢ expected lo influet)¢¢ the ¢eonomi¢ deeisions of users taken on the basis of th¢s¢ fmaneial statements. Irregularities, includiiig fraud, are instances of non-compliance with laws and I'egulation5. We design procedures in line with oiir respoi)sibilities, outlined above, to d¢l¢¢t material misstatements in respect of irregularities. including fraud. The sp¢cifi¢ ptocedures for this engagement ai)d the extent lo which these are capable of detecling iyregularities, includiiig fraud is detailed b¢low: carrying out substantive che¢ktng to supporting do¢um¢nts on a sample basis of illdividual transaction5 within ineome and expenditure to give comfort that on a sample basis the SOFA does not contsin any irregular items. ¢ariyiiig out walk-through testing io verify tha¢ the charity's accounting systems and ¢oi)trols are being implemented as de5ign¢d; v¢rifying the ¢xistth)ce on a sampl¢ basis of individual einploytts on the payroll. and • verifying that material b21anees within the balance Sheet are SUPPOTled by third paty evidence to coi)firm the existence and valuation of these baluiices at the knlance 5h¢¢t date. Because of the I￿l¢jent limitations of on audit, ther¢ is a risk that we will noL d¢l¢cl all I￿egUlaritiCs, includiilg tiiose leading lo a material misstatem¢nt in the fmancial statem¢nts or nonwcomplijnee with regulation. This I'isk incteases the more that compliance with a law orregulation 15 removed from the events aiid tran5a¢tioIis reflected in the fiiianci41 statemei)15, as we will be less likely to become awar¢ of ijislance5 of non-complianee. The risk is also greater regarding? irregularitie5 OCCUTTing due to fraud raiher than error, as froud involve5 Lnlenlional concealment, forgery, wllusson. omission or misrepresentalion. As part of an audit in accordance with ISAS (UK). we exercise prof￿s7o￿al judgement and maintain professional 5¢eplicism Ihrtsughout th¢ audit. We 81so'. Identify and assess the risks of m8tei.ial misslal¢ment of th¢ financial statements, whetlier due to fraud or error, design and perfonn Audit procedures responsive to those risk4 and obtain audit eviden¢¢ th#t is sutTicient and appropriate to provide a basis for our opinion. The risk of not dete¢ling a maleyial 38

Chai'ity Registration Number 1131501 Independent Auditor's Report lo Il)e Parochial Church Couneil of the parish of St Helen Bishopsgale wilh St Andrew UndeTshaft and St Eth¢lburga Bishopsgate 8nd St Martin Outwieh and St Mary Axe misstatement resulting from fr&ud is Iiigher than for one resulting fron) error, as fiaud may ihvolve collusion, forg¢ry. intentional oinissions, misr¢pr¢5¢ntations, or the overi'ide of intemal conkn'ol. Obtain an underslpndiiig of internal coiitrol relevajit tg the audit ii) ord¢r to destgi) audit proeedures that ar¢ appropi'ial¢ tn the circumstsnces, but not for the purpose of expressing an opinion on the ¢ffe¢tiveness of the ehurch's internal eonirol. Evalvale the appropriateness of tteeountinB W)licies used and the reasonableness of aceounling estimates and related disclosiires made by Il)e PCC Members. Cortelude on the appropi'iateness of tlie PCL Membei's, use of tli¢ going ¢on¢¢i'n basis of accounting and, based on the audit evidence obtained, wh¢di¢r a inatei'ial uiiceilainty exist5 related to events or conditions ihat may cast sibinificant doubt on the church's ability to continue as a going concern. If we eonelude that a rllatei'ial uncertainty exists, we are required to draw attention in our auditors, report to the related disclosures in the f5nancial statemen15 or, if such disclosuies are inadequate, to modify our opinioii. Our conclusion5 are based on die audit evidence obtained up to the date of our auditors, report. However, ￿tUre eveiits or cot)diiions may cause the church to cease to eontinue a5 a going concem. Evaluate the overall piesentation, structure and conl¢nt of the financial statements, including the disclosuits, and whether the fLnan¢ial Statements represent the underlying tsxnsaetions and events in a mann¢r that achieves fair presentation. We communicate with those churged with goveimance r¢gardin& among oth¢r matters, th¢ pl8nn¢d scope and timing of t]ie audit pnd Si￿]irl¢￿￿t audit fit)dings, including any significant deficiencies in internal eontrol that we identify during our audit. Use of ovr report This report 15 made solely to the PCC Members (who are trus¢e¢s for the purposes of ¢harity legislation), as a body, in accordan¢¢ wilh regulations made under section 154 of the Charities Act 2011. Our audit work has been ￿ndertaken so that we might slate to tlie PCC Members those matters we are required to State to them in an auditors, report and for no other purpose. To die fullest extent pemiitted by IAW, we do not accep¢ or assunie responsibility to anyone othej. than tli¢ cliurch and the PCC Members. as a body, for our audit work, for this Itptsrt, or for the opiiiions we have formed. Gi'iffin Stone Moscrop & Co. Cliartered Accountants Statutory Auditors 21-27 Lamb's Conduit Street London WCIN3GS Date... .[7..8￿.,.1..Z0I.)..... Griffin Stone Moserop & Co is eligible to act as an auditor in t¢ms of section 1212 of the Companie5 Act 2006. 39