PAROCHIAL CHURCH COUNCIL OF ST. MARY MAGDALENE, PADDINGTON Registered Charity No: 1131696 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31sf DECEMBER 2023
RY DALEN ADDI THE ENDED EMBER INDEX Trustees, Report Independent Examlnerfs Report ststement of financial PLtsvibes io Balan Strttt li Notes to the financial ststents 12-19
Page I FOR THE YEAR ENDED 315f DECEMBER St. Mary magdane'S Chulth the Und st P43ry St Peter. P&JdiWn. It is sated In Rowlngton tJcrt WaThyK Estate. PdthjliK. It 15 Part of the cl the thurth of England. The The Pdrchlal Urch 15 a regtyed (P). 11316%). Incumbent.. The Ptstatha WCKrfhId {] (frcffl llth Se&unber 2023) Wardens: Vlrglnts A4)ton aLw T9Jrer (Ur 14th May 2023) {frthn 14th May 2023) Electthj memtexs: Car&kn Batker.Mll NiLy Chakwawrty Cathy Duckett Nlna Irwln Nlchclas Kaye also Vke Qdr. SKretsry 14 May 2023 tr l&h ju 2023) The Meth (rf wintnwnt PCC set t kn trE Rubes. All (hurch attendees a enc4mw4 to wisttr on El8lc¥al Rdl stsThl fc eIth to PCC The APCJ•1 has detemiined that all elthl PCC Mernrs are el&tsl annualty. Tr parth is In a Jolnt tefe wlth St Peter Elgin Avje PallngtThi, whith that (¥E irKumtent-5tsts Is a["nl to ith parfshes SUPFQrtirrfJ each crther in more irrfcmal ways. In tt abSe of a VkBr the ChurChwardS and PCC manters take the respLwtAIlty of Ma. arrar¥ts yShIp arKI ce of the parlsh. TvKfy Llcensed Lay mInerS V•ve IKenwJ to the rerish. knthan PThtW atso on PCC reshjned durlng the year due to movlro away, a1 Joseplmne Pthgtvniro. The P met 7 tlmes during year in the d)urth c¥ CAI Zcmyn. Matter5 dealt wlth planning worship. the buikling, safeguardw¥J, the aFwntsMent (l a ne aThJ the intrc¥Juthon of faolities to (h)nate by card. F£C fvlfils its respmXibl1itses in dc6e crwakn with PDT (Pa(liW D(vt Tr r8Jlster&J charity 1080883, r8JisieiEd ojmpany 3652559, wbyw.tNJt.org.uk) WIM) a lease (m the buildiThJs (the thurch arKJ the communty centre att3th) uThJer fajjlty dat8J frc¥n 2017 to 24 DeM1 2041. with Jndays and some oth8 times and s(xne patts fly Ffc collalmyatic cl the PCC and PDT is known as'Grand Junrti'. PDT (afe to PThin9kns, provwk cateriro for private events. A seEkirate repjrt is av3ilth frcrfn lty C(Thmission PDT, deliver OynMIty worf( In the church in partnership wrth swal organisatKws iThJudiNJ W&triints Cwncil. The Church raInS kxlrnari a of
Page 2 OF PADDIN The governan of Grand jUtIon 5s hehj pnuy ty noTnUtell PDT t3t and Ffc repsertatNe5 who form a Management &r. The p is currenty ty Virginkl Ashton, NKky Chakravty along with Wd Natssha Ward wkno is akn a trLL%tee of PDT. The ts (thalr&J ty The Ven Dr &ll Jao)b, Lwt the PCC retsins ts statutrwy rvjhts and ova5hJht. The AnThJal P•eety'tYJ Iws a protr£ol settiro cyjt the to te fotl(h¥ed in makir¥J tte FCC apFKJintsnwts to ttE eoard, in cK(ler to ensure that AIM AND PURPOSES St Mary Mal'S p has the re5pw6itsIty (f -0pa]rJ wlth Parlsh Prlest In In the deslastlcal TISh the whok mlssth of ts (hurch, ordI, dje11St5C. XAYal and eoJmenic471. It also has malntenance aTrJ ovusuht restsItI1 for the and attathal ne•¥ cOmmty whlch are fulflll8J In dose CollaratIC with PDT. The PCC Is committed to enabling as many as SSIble to wc¥ship at our thurth to txome part our parish communty. The PCC mairrtairns an cNwvEw of worshp througlKXrt the parish and makes suggestiors on IKVI our se[w can inthe many groups that live wrthin our pMi5h. When planniro our knities for the year, the Parish S>rst aThJ lthe F£C have cOnSh Crynmission's gUIdan on publlc teEfft a1. In partlcular. the specfft gthn on dwrties for the rthancement of rellgion. In partiajlar YE try to enab cwdinary Fec to Iw (xrt ttir faith as Wt pansh communlty thrwh.. Worship aTrJ kyayer; lewnirwj aLvJt the I1. arnl trir arKI tTUSt In Jesus. Vi5w)n of pa5tsxal cwe fcff IMrvJ in the parish. To facllltate aTrJ further thls work r( Is ImFYtant that ¥ malntsin faLYt { the thubrh and new communlty centre ixjlldlrrfj attthl. Rlsk Management The main final1 risk for PCC i5 maintsknlrg Its rest4tIlltseS IxJihJits31 this Is addressaj by the cbse partnership ol the KC wth PDT arnl ts rt$. sharirwJ financial information and oversight through the FWPDTfvint board. Tr PCC al seas (w)itrnitEs to thance its own fundraising, f¢x eXaMe thrOh erKouragiTrJ chlrch memtrs aThJ wsitors to ikn arKI overseeing its own di hiring agreem&ts. Other rth indjIrJ 5afeguardiThJ and and Sa &e mar3 by the PCC and the joint management LM)ard through ttEir reguk4r The KC has appointejj a safeguardi officer r8Jularly revie*ts SafegudI aarots. When indiwduals have thThtim5, this has in a rw)n.agJressNe way. Manawatt Board has diwKms alx)ut WrYJ m(yy fr(xn ethical Neither the CFKJrch nor the PDT rerd any (yxnpkints atKMJt (u fijthisw.
Page 3 Safeguarding Rewt for St Mary Magdalene thurth Annual Rqjwt January 2023 to December 2023 Parish Safeguardro (PSO) was May 2023. Policy Approvals In July 2023 the new PCC adopt&l the ststt on safeguardiThJ whith is in accthn with The House of Bislw. PolKy Statement'pr)thJ a Safer Urth, {2017) arnl F¥(kntiry all 'S Chihjren. (2010) aThJ the DKx&an Safeguardiry PolicY'PrcnOtiTrJ a Safer Di[, (2018). Tr krtment of Ex Offenders was also agreoj at this meettrrfJ. The latest safegu¥ding acbon pkin was apwov8J at PCC meeting in NovemlEr 2023 and rn to ts thojmert availab to on &vJle drive. Tr actK>n plan highlvJhts the [C(ureS and pr that r1 to be maintsiwl and revie thrcrtohout the year. safeguarding is an integral part of the lrfe aNI ministry of the Dkxese of Lon&M and'safer thurches, is a key priority for our 2030 vision. &feguardirKJ is the reSF(Th'bilty of everyo1 WFK) PWtKJ'pates in the lrfe of the Church. No sermxjs ITKidts were reFMJtal as saf&Juardiry issw during 2023. Contac4 Guldanc• and 5upwt Cop¢es of ¢JJr safeguardirKJ PK)IicE5 and other W thxjjments are In arJ lIr. The churth webslte and thurch dspLay t#)ard contain contaLts for the parlsh arml a rdnge of CanISatI( that offer specific sUPPOrt and guidan. The Ditesan WUardINj Team (Dsn are availatle at the DkKese of London 0207 932 1224. Chjr Area DicKesan ts aaire Meawy (Two OtE%). Tr DKxese of London has offered indUdn trainlro to all crf thelr W PSOS it is 'rj fwilitat8J ty the Area DeSan well attend8J and very useful for latest saf&JuardirvJ dOts aTrJ r¥5 and alx) to meet other PSOS. Partsh Safeguardir¥J Officer is LcKraine Sirgh thiklm's 15 Cathy Duckeit. pcc There Is a stsndard Safeguard1 Item at e•Vy Ffc meetiThJ. DtsOjs uar(IrwJ rwjularty give5 trustees an opwrtunty to query saf8JuardiThJ matters. T have to saf83uardirrfJ Saf8guardKpg C¢xr8n orAl/egatm Members cl the PCC have cw are in pr(ms of uThYertaknng safeguardlng trainw. There are drfferent cl trainirnJ dq)UKlirvJ the txth W and tralnlTrJ at hlghe5t level neats to be rt ewy t year% Safeguardlng Procedurqs Trustees and everyone Worki wth chlkkw and alufs are to hwe a DBS check aThJ thls Is renewed every three year5. Much of the church's of safegordiry is n(Y4V SUPPJteA by the Parts Dash&kvd. It is an Onl1r that hdps the thwth keep cl its VEII as kee.ng the church Infm nab'onal thar4Jes in uardIr0 uireMthts wovMliTrJ links to appropyiate documents and tunplates. It aLs0 gWate5 an plan aTrJ gubae in * rlrtht and people management. Malntwmnce af the Falwk During year most of the reFoir vKfrs deaniro in the uThknoft aftu Ik*)J in 2021 were COMpted. There remains IlsndIng th (x) case. Day to day maintenance of the fa was cwiplthj with Th) ots matsy ¥)rks. Later in the year the quinquennial inSFffbon repmjt a da2rLN)nization rekvrt Yve These will help P5 fLthre WC#Jramme of work5.
Pa4 PADDI 31ST DE MBE UED 2023 tegan with the be fv) va(aTV, With a rW 1-in-3[9e apw)inted in Wber 2023. The Sunday savi, patronal ftfval and )nal offKes as 115, bapts'sms and fUal5 were held thr¢x¥Jhout the vr£arq the help of de[ to whom we exesS wr thks, and Evening Prdyer contrnl evay w&k thrt the V1j thwch. C(MunIcatIOnS CltInUed to devekp with a Parish email list cl ovff l(N) subgJibws, an X account wlth over 600 followers, a From Cttober 2023 St Mary M¥JJalene the onty vrtN5hlp in the be as St was temari dos&J, wrth a gothd few St Pews mwntrffi atter¥JlrKJ & Mary Magdakne Instead f(Y the rest of the year. In addition, the dlocese t(x over St FSe aThJ ty the end the we UnderStC thls Induded what had teen the parlsh Offi trK)th parlshes. St Peterfs Fkjuse wlll retumed to resklenbal use, and the ¢knmstslTS vy at St Wtll be rebJm8J to use as a vl¢ffte. Ihe parlshes contynL to wth h)int sgvtes, x(lal wts lMInIstratic tasks. In September Rewd Natatha WfxxIwa, a S[aliSt iteYnltransiKffi mlnL was apyAnted as intthm priest.in-charge of txth the parlshts of St Mary MbJdakne and St Peter. This limitd three-year aptx)inbment was made to help treate a tetter frMJndathM for fut ministy. and to grve tM)th parishes and dlctese an OPFrfXtunty to what the W arrart for any future wmanent appYrthnt which may or may ncrt invotve the pwtshes rminirrfj a unrt&l t. The corftext is that the dhxese is at an early stage of dvIng plans axl KIents'rJ 9)wces of to 1p sUPF¥Xt a rffEval of the churth in the aw. and a fcKIAs intwim minlv wlll te supp)tlrKJ thls. Usual Sunday attendm was 10-20 (LxSstw&l lr In tr year wth St Pets mwnbws), wlth 35 at Easter, and 64 at Christmas. The traditiCal Sjuls Mass SUPFotsJ by Sussex HcAJ5e SdKM)I, aThJ the Carol servi supp)rted by the Girrikknall Alumni Slw took rrte )Jain V•Ere well JKI atte[KI. Thi5 year a Servi was k1 Day fcr the flr5t ttme In srAne year5. ATh)ther Innovat1 was teginning to hold weekday Offi in the teautffijl K1 irtlmate St Sewlchre Comtv chapd, rwly re-opened followij flryxl damage. There was a n¢Ial 5ervKe, 3 btytsms, 2 wkliThJs and I marrlage blessirw3 S. el1 roll to the 2023 AF¥J+l was 32. Most of th(x on the roll are resldent wrthln the FQriSh or wlthin 2 miles of trt dwrth. cCMuni0n was dlstrilxited on Uest to those at home and reguktty at CcAJrt care In the parish. Durtng the year St Mary Magdakne with St &etthen's We5ttMe Patk knx)i. aergy and mInIst5 from both diurches YKfk£d togth to d? a Vis Statemai¢ and to lead cdlective worship weekly in church in 9th(x)I, with 5pgial wh)Se sctsx)I pke Or or tWKE a twm at toth churches. 2 P apFM)inted gwrw5 a)nts'Thxl to ser¥e (X) tte Lywd sdKX)I. mcng Stsr, an African-knj thwth. (nntinwl wor5hipryiw in the The SL Mary MUSK in its 61st year, C(inueS to enfv Its dose asatIon wlth St. Mary Magdalene churth. The FIxe Slngers and C((t was hehl in Con)uOn with Sussex House s( on 12th May. 'Water M, ts ann4 on tM)ard NarroN Pthts the R&3ent's Canal, was hekl 10th July. The Durufié I4al Raital was on 21st ber fth Hamith Fra as the gan 90. On 2nd Novemtr. trE Ibttle kTr)wn Requian by was St Mary MèJdalerE Choir a1 Orchestra as a g)knn f( 1 Souls. Day. Nicholas Kaye
P5 GDALEN REpoKf OF ThE R ENDE Grand Junctlon at St Mary Magdalene's PCC Proyess Report. March 2024 From top left to right.. To The Toble community meolond ort activity. May Community FestNal Middle East ond North Africo storytelling ort workshop. Heritage Tmining Academyfor 18-25 Globol Majority young people.
Page 6 PAROCHIAL CHUR ALEN REPORT OF THE TRUStEES H COUNCIL OF ED The past year of activitie5= 2023124 has been another packed year at Grand Junction at St Mary Magdalene's. We have continued to deliver the Our Shared Heritage Fund programme. funded by National Lottery Heritage Fund. This has induded tslks. community meals. the community performance Olive Jar. a weekly art and storytelling class, and the Heritage Training Academy. We have continued to run our adult learning programme. muth of which is delivered in partnership with WAES. This provides a range of arts and creative physical activities, focused on wellbeing. We also run an E50L class and our Language Café. which is an informol English lan8ua8e practice drop-ln sesslon. Our volunteering programme is flourishing with volunteers contlnulng to support our work across event Stewardin& administration. marketing, arsd visitor experience. Many volunteers have used their work with us to progress on to further training or work. In fact, one volunteer who worked with us two years ago and then went on to work with the PDT employment team and at Stowe reception has just been appointed as our new Cornmunity Projert Work-er. The children and young people's programme has grown to include three after school clubs for 7-16 year olds. with the regular Monday drama sessions joined by Green Kids Club on Tuesdays. Our monthly family art workshops Art Party has continued. We have delivered a family theatre pro- gramme, as well as one show for sthools which was attended by 2CK) children across two shows. Our vocabulary and drama programme, Wonderful Words, continued to be delivered at St Mary Magdalene's, Edward Wilson and Our Lady of t)olours primary schools with very positive impacts being tracked. We have delivered three whole day schools workshops per term extending our Green Kids Club theme for local primary schools. The concerts and arts prograrnme has continued to grow this year. The income generated from this, while not enormous. doubled on the previous year and has now become an important income stream. We have fomied relationships with new promoters who are now returnlng regularly to Grand Junrtion. Our partnershlp wFth Arts Canteen has continued and we have co- promoted several Shows across the year together. Induding Epffttlan Jazz Projekt and Amira Khelr as part of London Jazz Festival. Our commercial partner Bovingdon's has underperformed over the past year and we are currently addre55ing how they can improve their performance in the coming year. The commercial hires managed directly by the GJ teamlsuch as Conferen$. meetings. fashion shows. and parties} did grow last year and made up for some of the shortfall. We now have a team of nine working across all of our activities, with additlonal freelancers supportin8 particular areas of ourwork. The team continues to be very 51ron& delivering a huge amount given our size.
Page 7 PAROCHIAL CHURCH MAGDALEN REPORT OF THE PADDINGTON ENDED 31S1 DECEMBER We have been delighted to welcome Natasha and it has been a real pleasure workin8 With her over the past six months. The relationship between the PCC and PDT has strengthened enomously during this time with the return of regular Management Commtttee meetings. The past year in numbers: Vlsltors: Adult classes: 25.762 visitors (this does not include parish numbers for Sundays) In 2023. there were 5.166 participations in our adult classes. with 300 regular classes across the year. as well as additional taster and extra sessions. There were 1.483 participations by children, young people. and families in our young people's and families programme. Sesslons for chlldren and youn8 people: Communlty Events.. Tours: We organised 2 large communty events. took part In Westbourne Festival. and delivered 6 community meal events. Volunteer-led tours continued with 2 per month, many of which are now sold out to the 25 capacity. plus other bespoke tours for groups on request. 130 volunteers have supported in the delivery of 132 events, as well as supporting wlth administration. tours. marketin& and visitor experience. 43 concerts. 14 family shows with our pay-wthat-w)u-can scheme. and 8 talks attended by over 11.(NJ) people. Volunteers: Muslc and arts events.. Fundraislng: Over the past year we have been successful in securin8 a number of funding pots, notabty three years of funding from John Lyon's Charity towards our Young People and Families Manager. We also received another Arts Council England grant to support the Elixir Festival, IrludIng the re-staging of Olive Jar. This summer. however. a number of funding periods come to and end and there is a large amount of fundraising that needs to be done ITr the comiryd monthsto secure replacement funding.
PAROCHIAL HURCH MARY MAGDALE14 LOF PADDI al Revi Unresthcted funds As detailgj the Fala1 Statar tltsl urrKt8J fuThJs was £24,999 whl the total wrvjiture amoun1 to £16.612. The net i(ne amountsd to £8,387. The unre5tiirta fvnd tots11 £74,148 at 31 De£emtw 2023. We also raiwj £15,120 from tnmlty RY 2023 Mn1rrfj Sts was èjaln the churth sharlrtrj our building. Our agreed Common Fu1 otrIbbI vrd5 £8,1YJ); after {OrjItati aTrJ, to refi&t our UnCn inccme, we have agre8J a 2024 COMM FWKI offw of £IO,LXK). Restrlctsd fiJThls Our restrKted fiJKls at 7r e1 remai crrtant at £103,166 at 31 D11 2023. Gwen the fluctuation In dtiC5 1V&, the Par(thial thurdb Cncil.5 poIKy is to retan suffident funds to ¢trnUe Its OFffati)ns. The Trustees have r1 to dis0 a1 KIer 5tatsJs of tt Church's fuThJiro, resrn, risks, aThJ invest. statenxnt ol responslbllltles of the Tntstees of P.CC. 14tyd4lene In rewt of the Trustees. annual rew)rt and the financial statements The Par(xhlal Churth Cwndl's Memivs are resp1b for weiring a trusts' annual reix)rt and finala1 ststements In wth aKable law Unrt&l P£ccMJntiro Stsndard5 (United lQngdom knepted kcountiro Fre). Tr Law aFplicat4e to charities in EnghyMI arml Wales wuire5 the charity trustees to kyepare finanoal slatanats year whth gThe a and fair VEW of state of affalrs of the d)arity and crf the irKomiThJ resour ar¥J applic3th of r4]ur, (I the tharity fcr that lod. In prepanTrJ the finarKial Statern, trUstS we r to: sel&t suitai4e accwttiThJ wlKies wxl tkn tkni (yThstth; observe the meth(xis and prirKi in lcable Chwrties SORP; make ]ments arKI estimates that a reaTh?ie arKJ wlt. statE whether appltcat4e acrounUTrJ stsThlaftls e fked, xJbJ&t to any matalal deparknres dlsch)wJ aTrJ explai1 in finar¥ial statwnwts. arKI that comparry wlll (rnI In IKfy'ness. any bme finanaal t[6rtm of the cw to to wwre that the financial statements cornp with the Chèrities Act 2011, Current Churth kcountiTVJ Regulations, the akWic2ble Chantie5 {Accounts and ReFrfJts) Regulakns, arma c( the Trust d1. They are also re5[1b1e for safeguardiThJ the assets rrf the drity arKI tskir#J 5tqLS wwentK¥) and detthm of fraud and other irregularitias. included on the tharivs in aCCordare with legth1 in the Unlted n> the preparation and dissemination of finarla1 stalem. SigrEd Eehalf (é the parla1 c(11 on Vhe" 2024 Chalr
Pdge 9 DEPEND ' REPO PADDIN I rewrt the acc(yJnts of the (JW kn the year 31Si 2023, are set wt on page5 10 to 19. The Charity's Tnts we re¥rtThib fcf the Frykiratth cl the Cnts. Tr tharivs Tn&ee5 consKler that an audtt is Tr)t requi for this year urxler 144(2) of (thanties Alt 2011 (the 2011 Act) that an independent examination is nee. Tr ChWs grrss If0 excthl £25,C(M) and l am qual[fl to un(knake the examinati iry of ttE Institthe of (arter8 Accountsnts in EThJlarKI arKi Wales. It bs my respjnslblllty to: . examirE the accrmmts undw 145 of ihe 2011 kt to folloAt lak1 the gi4M by the OJnmiss urxler settion 145(5){b) the 2011kt My examinat5on was carned wt in 0)rdan with the gwal f1rectio gi by ttE Charity Commlssbn. An examlnatth IndLths a r•¥ c( the Kcounting rec(5 kept charlty and a comparison of the C(KJnts present& with ttrKe rec(Kd5. It akn o)ns1thCffi cl unusual linS or d1Xk)5u In tke accryjnts and sklng explanat frcfn yw as trustees (CnIrj any S mattds. The wc(edures undertaken th& not all e¥Kkno that wojkl LE wuir8J JdIt, ctww7Enty rK) opinion is given as to the C(jnts kyewt a a1 far N4e/ rq>xt 15 Ilmltexl to th)se matters set out in the In CTh)nectI wlth my eyAmlnatlon, rx) matter has come to my attttL. to keep &c(KJntwwJ reLd5 in with the 2011 Att aThJ to prepa acc(¥rt with the r8xAts WKI tj) c(thply with the JntiThJ rtsjuirements of the 2011 have rK)t met c (2) to whth, In my g)inKn atteltkn sh(NJhJ t drnwn In (th to enatde a kvf4)er urvkntsrKllng of M B Boyddl FCA dell & Co charter Aco)untsnts 146B Chiswid( High R(Aid London W4 IPU 2024
Page 10 MARY MA 2023 2022 INCOME AND ENEQWMEMfs FROM.. Donations and Wa'es Charitsble Investments 119 6.887 16,658 1,732 333,541 20,445 1,089 4a) 4b) 16,658 1,573 159 Total.. 24.999 278 25,277 355,075 EXPENDrruRE ON: Raislng funds Charitable acbwtie5 5a) 5b) 16,112 365 16,477 342,519 3,3fX) Tctsl.. 16,612 3,165 19,777 345,819 Net incomel(eypuKllbJre) 87 (w) 9,256 Transfer t*WI fvts (w) 2? Other recojnised galrtsl(hsses): Galnl(loss} on revaluat of investmerts 257 2,857 (4,126) Net mLwement In fiJxls 2,857 8,357 5,130 RnCIliatI(l of fuTKIs Totsl funts br fcTh¥d .648 103,166 36,979 208.793 203,663 Total fund5 cathed fwwaryl 74,148 103,166 396 217,150 208,793
Page li GDALEN PADDINGTON AT 2022 FLXED ASSErs Quoted Investmerts 36,979 CURREKf ASSErs 16,201 161,03) Cash at bank arKI in hand 170,675 168,331 I8676 329.361 CREDrroRS: Amcwnt fallirwj due within y&r 9 (9.562) (157,547} 177,314 171,814 AssFrs 217,150 208,793 ReF*&ental by UNREsfRicfED FUNDS 74,148 REsfRIcfED FUNDS io 103,166 103,166 ENDOWME FUNDS li 36,979 TOTAL FUNDS 217,150 208,793 2024 autIv& issue its tehalf by: Chair
Page 12 UNCIL PADDIf4 THEA STDE MBER 20 I. ACCOUWllNG pouaES The ParcÉhial thurch cow1 of Ec1 Parlsh Mary PathJiWI is a Parish Church, dcffiKgled in ENJland, axl vrith ts ClItS CL¥nmissth ruJislTatw)n numter 11316%. The Church Is a drity a1 is reguk?l the tharilie5 Commssicfi the (hwd) of England. The financk?I Staternts have been tyepared in aCcdarKe with kc(wnts'ng arml ReFMyb'ng by Charitie5: Ststement of Rttommajjed Pr&tre 4)plTrble to dwitts their Unts In accordan with Finarrial RqxyliNJ Stsrnlard awlKable in the UK aTrJ Republic of Irdand (FRS 102) (effertNe l January 2015) - ((harities g)RP (FRS 102)), the Finanaal RekN%hThJ Stsndard applKabte in the UK RetI of IrdaThl (FRS 102) (as amwKtsI iry SORP update j1tInS I to 3) the Charltks kt 2011. The Charty meets the definltkn of a wbllc Lvefft urKler FRS 102. Assds and IlablHtles are Initlally reCOgned at hthcal cast or trBns&ton value lesS othenv& stated relevant acCtMjntw te(S). prindpal aco)untirrfJ tK41ths atyed In tre tyepardtpjn finarjaI stateMts are set t below have remalned fr(rfn the Wev1(x 5eY, also have beffi ccffisistenty appl withln the same acccwnts. (a) rfAccOti RegUlaU(, 4Wicat4e 0)Urtry stsndwts SORP (FRS 102). Tr finartk1I5tateM have the histcfKal cost COFon as mclfi by the Indush)n of invthents at mark£t Va and the revaluatkjn of fixed assets. Tr finandal ststements Indude all transiors, a55ets Ikbllltks tt PfC1s re551b1e In law. T7y do not Indude the xxlnts of thurth grwF6 that th'r affiliatm to ancrtlw txth. rnr Ih)5e whlch are Infomwl gatIr@S of mertws.
P&3e 13 . MARY DALEN E ACCOUIITS I. ACCOUMllNG K)UCIES (b) Funds FEld ty the PCC .. ral funds whkh CJ) LE uwl In the temis trt bJl L)onations N gTrnts recdv&J a Spear object c invrtal ty the Ffc a 5peofic object. The funds may only te on the rknFct vthith gr¥en. balan remaining urw at the end of year is cWri1 fmrd as a balarKe cffi that ftjnd, (c) Incon1 rex¥n All ir•xrfnirvJ reSWr we AMtal fv uY(ss. CollLrtions are recognls8J reNe(l. Plann&J glviThJ receivabbe s rewtseil Wh recad. Grants arKI a recwi5d the PCC is lly to ts amwnt dLE. Dividends are account8J for when aTrl aLle. lrtwe# are &c(NJrt8J fcr as All other I(#e 6 rKognlsaJ vrt it ts rerthth. Galns and I Realised gains are rErcJnis8J when ts n)NeStn a sdd. Unrealised gains arwj kw5 are cjnteIl fly cffl re11)n 31st D)b. Grants and d(YotlrJL8 we V pakl ¢w. &¥artsJ where the award ueates a bindiThJ dAlgatm on PCC Activities The dictesan rIsh accouTrted pahd. putsh clLMlOn unpaKJ at 31st DeCeMr is FKovthl ts in as an watwjial (tlwh rK* a 1) liabilty and is
Page 14 MARY 2023 I. ACCOUKnNG F4)uaES (Contin) (e) hxedAssets Tangit4e fix8J assets Movable fumishirwJ ld by on s1 trLtst for PCC and whith requlre a faculty dtStThI. are (Dur as Inalth tryvty consecrnted. They listeA in the church's invenW L irw&1. Investrnents Investments are slated at mark& at the tae d (n (bffertA%sets Amounts owiThJ to the PCC at 31 tcwntw in re$t f, rwts cAhw incThne are sn a short.temi dep)&ts cash held dew4t kn wlth tre CBF amrth of EngL71 FuThJs, or at tt bank. ¢ItC5 are recognisoj Init1 at plus attrlxtsbbe transion costs. Subsw4uent to inttial rnItiOn they a measured at amcrtIs crjst usirwJ the effNe interest meth¢)J, less any Impairmertt losses in case cl tr debt(Ns. If the arrwert constitutes a ftnandng tran5artion, for eXaMe rf payrnt is rNxmal buslness ternis, It tt Ls measur&1 at the present value of fiJbJre dIscntl at a mark& rak of Instru a slmlkv lnstrLWt. (h) Sumco¢alkx7t SupFQrt CC6ts, whth Indude ofke futts as gal nnage Jdgettsyj and ac£ounb'ng, 2. TRusfEES' EMOLUMEwrs None of the Trustees any em0lunnts. The Tnts reimtxJrs&l £nil (2022: £nil) for gcnds wrchas8J f the Church durirKJ ts yEar. 3. EMPLOYEE INFORMATION The nntro of {111 the aerk to ttE Tntstees) anpbyeil durirrfj the year was nil (2022.. nil). The Churth frixn the of ca. 30 unpahj voknnteer5 (2022: 30) who fomied a myriad of tss. and wilh)ut whcffi the Church vA)ukl ab to fvncth)n. There were staff from ots (nisatNlS (2022: nil).
Page 15 DI ENDED 4. INCOME AND ENDOWMEp¥fs FROM: Donatsot atKi bJaoes 2023 2022 Planned gNing 1.778 325 1,5 2,829 472 3,025 325 Coilections and ots giwivJ 3,683 6,326 Donatlons and Iyies Heritage Lotw Fund Listed Places of Wothlp (VAT rectrBth) (') Oth donatior TrustslCharltJe Fwrnlathy6 265,256 42,567 12,625 950 5,817 (lo,6) (lo,)6) 3.085 11,025 14,110 3,085 119 3,204 327.215 6,768 119 6.887 333,541 (') The 2022 ac£ourtiThJ estimats rA VAT was £10, 0al. 4a). Charitable tivI 2022 misl0u5 Fees Use of Church Centre FUndra61/c{xTrMUnty kbviis 1,886 3,624 14,7CN) 235 1,538 15.120 1,538 15,120 16,658 16,658 20,445 4b). Inv*nents Dividends a1 interest 159 I,n2
Page 16 IAL CIKIRCH COUIICIL OF MAGDALEN PADDINGTON 5. EXPENDrruRE ON". Raising funds 2023 2022 FundraisirwJ acbvtses 5a). Charitable adivit5 Activities dIrdY related to the Chw(h (see tel} 12,816 Expenditsjre related to the Chjrch (see beithy) 2,244 Admlnistrative costs (* below) 1.052 12,816 2.549 1,112 16.302 324,490 1,727 16,112 16,477 342,519 Activlties dlrecty lated to the of tre Dlcrnan Parish Share Organist Cost of Swwces Community/Min 7,500 4.ICKI 665 51 4,1(M) 2,897 51 12,816 12,816 16,302 Expwmliture rat to tke Insuran Church RunnirrfJ ExFense5 Organ RepaI/serV Project ExFEfKlItu 717 87 717 87 336 1,297 9,180 313,677 305 22 2,549 324,4
Page 17 THE YEAR EII i(rINUED 5a). Charitatde &thli (cLMnI) 2023 2022 AdministratNe costs &ink charges offi Ey[ditu 132 327 653 176 132 1.419 327 653 1,052 1,112 1,727 5b). Other 3,31XI 3,300 3,3rx) 6. FIXED ASSEf IN¥EsfMEI 2023 2022 st Martha's Fkll Tnjst. Quoted Investme Market Val at 1st janu 2023 Unreallwj gaW(losses) 30,763 2,857 34,889 (4,126) Market Value at 3tst D82mtrr 2023 33,620 30,763 Cash DeKx61t Balan 6,216 6,216 36,979 Investments at the year- £39,836 at Maet value in St Martha's Hall Tru. The St Martha's Hall Trust int at CBF Churth of ErularKI Invests JTrd. Only the intwest fr inst i5 availat4e to the Ffc, ca1 remaining intacL 7. DEBTORS 2023 2022 Sundry debtrxs other detr*S- VAT rtrAe Grants and dCTh7ti VatIe re Prokxt 16,201 14.171 30,132 116,727 16,201 161,030
Page 18 ST. MARY PADDiiIGfoN DED 8. C4SH AT NK AND IN HAND 2023 2022 CAF Bank Limitod HSBC UK 71.211 86,983 81,348 170.675 168,331 It was jrd at PCC meetsffJ (rf 6 FeL¥U 2024 tl tr ban on the CAF Bank as a sij fu1 fkn SMM repairs aTrJ malntenaKe. 9, CREDrroRS: Amounts falHr#J within y Accruals Other (T8J 6,702 2,860 8.389 149,158 9,562 157,547 In other a alrnts c¥ed to PalirW Dertwnent Trust of Enil (2022 £83,722) tO3ether with an estimated of £nll (2022.. £65,436) in respeLt of the comkleuon of 10, REThicfED FUNDS Totsl Balan at 1st January 2023 Income (see rKkn 4 atthe) Expenditu Transfer 23,870 103,166 10,365 278 (-) (3,165) 2,887 (10,(187) (3,165) 2W7 BalarKe at 31st trtcemt 2023 68,931 34,235 103,166
19 CHURCH couiiaL OF ST. MARY MAGDALEN PADDIN E ACCOU 11. ENC(jwME FUNDS 2023 2022 Balan at tst Jarwry 2023 36,979 41,105 Gain1(1) 1rNeSt assets 2,857 (4,126) Balan at 31st DerntEr 2023 39,836 36.979 12. ASSEfs BEtIVEEN FUNDS 2023 Jnd Fund 39.836 39,836 16,201 170,675 (9,562) Debtors Cash at aTrJ in haTrJ Creditors 16.201 67,509 (9,562) 103,166 74,148 103,166 217,150 2022 Fu Jnd 36,979 36,979 161,030 168,331 (157,547) Debtors Cash at bank and in harxl 51,492 109,538 81.348 86.983 {64,192) (93,355) 68,648 103,166 36,979 208,793 13. RELATED PARTY DISQOSURE During the year the Charity ented into no tr, kn ttE dIrY ty rKt (Kdinary ccAJrse of 14. OTHER FINAKIAL COMMrrMEKrs At 31 Decant 2023 the (Jarty kkMI no c(Thmitments under owating leases. 15. COKllNGEKf LtABILrrIES At 31 Denber 2023 tke (Jjarity h1 contiwt liabilities. 16. OFF BALIN SHE ARPM¢Z41ErS 17. FINANa INsfRUMEMrs 18. TRU5fEES ADVAN, CREDIT AND GUARAPfftES