PAROCHIAL CHURCH COUNCIL OF ST. MARY MAGDALENE, PADDINGTON Registered Charity No: 1131696 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31- DECEMBER 2025
HIA REPO THE R T YEAR CEMBER INDEX Page Trustees, Rep)rt Independent Examlnerfs Rep)rt li Statement of Flnanclal Pthities 12 Balance Sheet 13 Notes to the Flnanclal Ststements 14-21
Page I PAROCHIAL CHURCH COUN F sr. 14ARY MA DALEN PADDIpIGfoN RT FTHETR R THE YEAR EN ED REFERENCE AND AIY41111sfRATJVE INFORIIATropi St. Mary Magdalene's Church is part of Untsj eeneflce of St Mary Magdalene and St Peter, Paddlngton. It is situated in Rowlngton Close, Warwick Estste, Paddington. It is rort of the Diocese of London wlthln the Church of England. The corresn(nce athjress is The vkare, Rowington aose, London W2 srF. The Par(Khial Churth Council {PCQ ts a registered clkirity 1131696). PCC members who have seNed from 1st January 2025 untyl the date thi5 repjt Was apprcNed are: Unl Clergy., The Rd Natssha W(xJthYard Prkst-5n-charye, awir Wardens: Vlrglnla Ashton Lesw Chakravorty Marcus Borchom.Stevens Elect members: Tavla Allan CaroWn Barker-mlll Nicky Chakravorty Indra Dayas*lan Ntcholas Kaye Paul Taylor ( from 6th A1 2025) SecTetary (until 8th October 2025) Vice Chalr (frcffl 6th Wil 2025) (firm 61h Apxll 2025) sTrucruRE, GOVERNANCE AND MANAGEMEKr The methcd of apFointment of PCC m&MS ts set out In the Clurch Representstion Rules. All Church attendee5 are encouraged to register on the Elthral Rcdl and stand for elettion to the PCC. The APCM has detemiined that all ewed F£C memters are elthl annually. The parish ts In a ioint Inefts wlth St Peter Elgin Avenue, which means that one Incumtt-5talS prlest Is apInted to trxrth parishes slmultaneou5ty. The Im parishes have separate governan and managanent StnJCtU alongside SUPFQrting each other In rn0 in more Inforni31 ways. In the absen of a Vicar the Cthurolwardens ar PCC members take on the re5ponslbllty of makiThJ arraroements for worshlp and Ca of the parish. There Is one Licensed Lay Minister, Josephine Adegbemiro who is licen5eA to the parish. The PCC met 7 durirnj year In the church or on Teams. Matters dealt wlth Indutsj plannlrrfj worshipi the buildirKJ and safeguarding.
Page 2 PAROCHIAL CHURCH COUN . MARY MAGDALEN PADDIN FOR THE YEAR EN EMB 2025 CONTINUED charity 1080883, rwi5terea canY 3652559, www. t.or .uk) who lJ a 1&75e on the buildirtgs {the church aThJ communty C att&heAI) urojer datal frcffi 2017 to Decrter 2041,wtth Sundays and some other times and Some parts for the PCC, The CollaitIOn of the PCC and PDT is known as the 'GraThJ Juncbon., The PDT deltver community work In the churth in partrshIp vlth several other organi5abons. The churth ranains primarity a pl of V•Drshlp. The governantr of Grand JUnctn is held ioinyy by rKffiinat PDT tru5tee5 and PCC representatlves who fomi a Management Board. The PCC is represented currenty by Paul Taylor, Nicky Chakravotty along wlth Rev'd Natssha Wcdward. The Board is chaired by The Dr Blll jb. the fomr Archdeacon of Charfng Cross. Staff apIntments and flnancièl declOn5 are made by the Board but the PCC taITr5 its statutory rlghts and oversight. The parish Annual Meeting has &Jpted a wot01 sethng out the process to be followed In maknrrfj the PCC appinknents to the Board, to ensure that the PCC i5 ahvays presented by people In whom they have c0nfm1en. AIM AND PURPOSES St Mary Magdaknds PCC has wnslbEIIty rf c(troperatirKJ wth ts VtarlPblest4n<hargei In pronKlJrrfJ In the ecdeslastlcal partsh the WI rn10n of the Church, pastor31 evangellsuc, 9Th1 and ecumenical. It also has Maintenan and oveT5ight reSt51b11$tle5 for the Church attached new ommunity centre which are fulfilled In close collaix)ration with PDT. OBJECllVES AND ACTXVMES The PCC ts commltted to enabblng as many people as possible to yrshIP at our church and to tecome part cl our parish ccffimunty. The PCC maintsins an oveNiew of worship throUgt the parish and makes suggestions on how our 5erMttS can Involve the many groups that live within our padsh. When pEannlng our actmtles for the year, the Parfsh Prltst and the PCC have con51dered the Cwmlsslon's guidan on public benefit and, in partKular, ts steafK guidan on charities for the advancement of religlon, In particular VE try to enal)le ordln)ry to live out thelr falth as part of our parish communlty through: Worshlp and prnyer; leaming atout )1. and devdop'ng thelr and trust in Jesus. Provtsion c< pastoral care for liMrvJ in the parish. To facilltate and further this it ts Imp)tsnt that we mainlaln the fabrtc of the Church and the communty ntre l)uildirKJ attached. Rlsk Managemert The maln finala1 risk for the PCC ts maintsining Its responsibiltties for a slgnificant bulldlng, thts (s addressed by the dose partnership of PCC with PDT and Rs partners, sharing financial Infomiation ar oversight through the PCCIPDT joint tK>ard. Tr PCC also seeks opwtunrbes to enhan its own fundraF5ifrfJi for example throwh erragr@ church mem1r5 aNI vlsltors to donate and over[n9 its own direct hirir¥J agreements. Other ris indng safeguardirKJ and health and safety are managed by the PCC and iolnt management h)ard trough their ular oversighL The KC has apEM)int&a a safeguarding offKer and reguFarty reviews safeguarding arrawnts. When Indlvlduals have beer¢ asked for ¢Jonations, thls has teen done In a non-aggres5ive way. The Management Board has had discussions at¥Jut onty accepb'ng money from ethKal souttes. Neither the Church nor the PDT have te1Ved ary complaints our fvndraising.
Page 3 AROCHZAL CHURCH C NCXL OF . MARY MA PADDI EAR ND 1ST EMBER 2025 COK UED Safeguarding Rewt for St Mary Magdal•* Churth Annual Rert January 2025 to December 2025 The Parish Safeguarding Officer (PSOI was re-appointed on 2 May 2025 Pollcy Approvals In May 2025 the new PCC adopted the policy statement on safeguardlng whlth is in accordance with The House of Bishops. Policy Statement 'Promoting a Safer Church, (20171 and Protectln8 all God's Children'12010} and the Diocesan Safeguarding Policy'Promoting a Safer Diocese'120181. The safeguardlng action plan was approved at PCC meeting In May 2025.The actlon plan hlghllghts the procedures and good practice that need to be maintained and reviewed throughout the year. Safeguarding is an Inte8ral part of the life and mlni5try of the Diocese of London and a core responslbility for everyone who participates in the life of the Church. No serious Incidents were reported as safeguardlng Issues during 2025. Contart, Guldance and Support The church website and church display board contains tontarts for the parish and a range of organlsations that offer speclfic support and 8uidance. The Diocesan Safe8uarding Team IDSTI are avallable at the Diocese of London on 0207 932 1224. Our Area Diocesan Advisor is Claire Meaney ITWO Cltiesl. There are also monthly network meetings via Zoom provided by the Dlocese for PSOS which are well attended and very useful for latest safÈguarding developments and news and it provldes support to the PSOS. The church took part In Safeguarding Sunday in November 2025 and this year the theme was 'Actions Speaks Louderf encouraging churches to take posltlve actlon towards Improving sateguartting pramces. pcc There is a standard safeguarding item at every PCC meeting. Dlscussin8 safeguarding regularly glves trustees an opportunity to query and clarify safe8uardin8 matters. They have access to safeguardlng documents on Google Drive. Members of the PCC have or are in process of undertakSng safeguarding tralnin8. These must be revisited every three years. Safeguardlng Procedures Trustees and everyone workln8 With children. youn8 people and vulnerable adults are required to have a DBS check and this is renewed every three years. Much of the church's auditing of safeguarding is now supported bythe Parish Doshboard. It Is an online tool that helps the church keep track of its procedures as well as keeping the church informed about national changes In safeguarding requirements and providing links to appropriate documents and templates. In September INEQE carried out an independent audit of safeguarding practices in the Diocese of London. The church community were encouraged to take part, and the draft report and recommendations will be known in early part of 2026. Lorroine Singh February 2026
pe4 PAR OUNCIL OF sr. M•lRY MA REPORT OF THE TRusfEE NDED EMBE maIntenan ol the Fabrfc Day to ijay MaIrtaKe of the frdbric Ims been crywAetsd. In conjund1( with Grand juncti the Ffc in a 4prAiQt to We5trninster Cujndl Counthl to UFrtJrade the IKJhbng and u[KI sym wthin the nave. A gTrnt was also 9)ught for the (kaning and repair of t ti t]r wlthin the nave. The Counol confimd thd"r intenkn to w the grarrt in May 2025. Contractors weTe engaged to prepare proposals for eath ekt of the . The Ffc aTrJ GraN1 are avd by Caroe Arrhrt&ts. A was athied fo¥. The work to upgrade the IhJhiiTrJ and 5ytsn is 9thI1 to commerKe 2[ 2026. The th to the fl(v)r tiles will take as a seco1 pha duriftg summer 2026. nmkant work wlll be kwled to tr wbKirxil cygan in use. The txgan In the un(lerttoft MaInS UnLL4ble, wth ful5 from an Insurance thim én 2021 IKt gjffiaert to comthe work that be roqulred. Athievements and P•torn7ance develop the LEst f0undaty.¢y now cwler tt FThsiorh of ministy for fiJtrJ. During the year 'd Kirstine Henders remained at St Mary M)3daler's a part-tin secondment frtyn St Mary's Bryanstijne Square, supwrb.ng the st.in-drge's min15try & wrth a partar foots on ministy at the church school and a Itxal r3re h[. Usual Sunday attendan was 12 (2024: I16- wlmth vthen & Petsrfs was thsbJ),wlth 74 {36) 55 the 2 Easter seNw. stered ty a b3rO>n M Ear Day. There was I wedding and t tsaptr"5m. The electoral rc41 rewrted to the 2025 AF%)I was 14 (2024: 30), an exrcted reJu¢tl)n from the preJ5 year as t was a full revision. Thursday evening prayer (ctinUed eath vrt leA# ty tKth lalty dergy. orow1r irnpact of sredal seNtes a feJre of ttE star. St Mary Magdalene% Cw. The trnlltbnal All Swts Mass, Suprted by Sjssex House Schcd. tts)k pL as usual in a packoj chLsrch. The Dedicati Sery1 in October wa5 develoKd into an occaskjn fcf Grand jUliC staff and ¥c4Untee to C£e together with (hurch meMr$ fc¥ worship and so $ a bbwer evefit than in prewjs years. The Commty Carol Seryice 5UPPJted by Grand Junth'on Communty Chosr returned for ts second rternth. Thts trW)er wth the traditional Card SeNKf attratted around 130 congregants. EarlylIdnIght mass lat 9w) also rwikr with atrerthn of 60 145). Cther spedal seryl iluded choral evensong and benedict, whKh the debEloTrent of a grtyjp of C?5MIal sngers Into a parish.run voluntary th"r grIng for thurch ser¥tss or twKe a temi, aNy cnnverÉd and dlrected by c4Jr DIoOr of Music, James Paget. A and encoLrraglng fuThlrdishw M•Jnkficent Mv51c tk e In the aTrJ t5 rted on esleythere. st Mary Magdalene & St Stepkn's Sthool Kirstsne shares Coll&tNe wship on Tuesdays Rev Rthrd ter from St stephen s. The a g(MThJ very well and the 5chogJ are well engaged wth the &blical contenL rStIne ha5 a Fayer sp day f£tr) The Lord's Prayer, and the pkin is to do one per schod term. Kirsts'ne a19) led a stsff train Se551 on ()San Sw'rthality which was well r1ved. T(oether vAih tr head of c aFKI Ithard rAanning on delwering staff training sesston5 around The rekb"onship te the and remain5 an imt#Ntsnt one to nurbjre. Forerter Care Home There are a numbeT of residents whkh we Yekty wayer and communi. From time to t"me. rrEmLEts ofthe famity mtyht jotn us or in touth to reJue# PfByW. It Iws also twl 9X to getto know SOTne of the memlH& The visits are always 1 rTheJ, aThJ the c(MYdinator of home Is in tcvj) YAn new re5klents arrive who might Ilke a vi*t
REPORT OF ThE TRUSTEES ST DECEMBER 2 SL Mary Magdalene and Gr1 Jun(thn St. Mary magdale enjoys a nue rdètionthip ¢tsnty, Junctsm {part ofthe Paddington Development Trust). The has grdntÈd a kne over the nave aTrJ underuoft of the thur(h whkh Jables the chBrty to use the s. when usej by the church. to W a varlety of arts. musL hwltsge and ojltsjrdl events for the comMty. Volunteers condLKt regukr gLsided of l thurth aThJ chaw. desw by fArge Street and &"r Ninian Comper res¥Y. In 2025 the charfty laUd a prcoramme Lrfguthd hl40ry walh5 centsJ cm the thurch whkh explore the sla1. cUrdI and economt hlst(ry of tr slwrwing area. Magnlflcent Muslc In Novwnber we hek1'Mcert Mus<, cwr flrst major fvThJra&j (rrt . The aim was b) rnse the WDfile Df Grand Juncbon and ofthe thurch, a5 well as to raise mcffty to Sha by td). The evening started wth a iecepkn an CPF(¥tunty for to see the hist thu tlate and vestments on dlway in the beauithil St Sepuk11re ctrK7p. The perf0mlan start&J wlth a chaming dae rcth three young speaknng their own words. Thls was fdlod by the nderful ptregr1 VcKes dbir and eThJed vAth s(yne rr)ving cello and ugan pAece5 pla¥ed by Oona afKI Jefn Lowther. In tetvffen jSe the Ikpjty Ltyd Mayor drvrt the raffle. The evenlng was try well retrfftd and tkse attendirwJ were imwessed ty the music ar atso by the I)r of Grand Junction. The event faid £20,LKQ, irth1ir¥J eY afteThMrds. for )fic kyojects It was a truty.magn1finv eveningl St Mary Magdalene mC Sodety Our a$atIon Yth the St Mary makne Musk Scoety In Its 63rd rI tinUeS and ts major of the year tcbjk on AJI Scwls. Oay, when tr SL Mary Magdalene and Orthe5trai F4ned by the Sussex House C1r, gave a liturgical FerfOrThan of the fteqU ty Maurte Durufié, one.bme PresKlent of the Mustc knety. The Sussex House Slngers Sc40ists QCert tc¢ part in May. featuriTrJ (horal works arK1 cthe5tralty accompanled solos by outstandin9 young Ferformers. In Setynber, )n nne¥fr Dlre(ts of Music at St. Glle$4n-tsFkld5, gave the annual rufté Memona5 Reo"tsl. LwWrrfJ to the wlder benefry St Mary c(xthwl to wth St Petsrfs for Jc4nt Serys. socJal Roundtable Meetlng8 r the past few months Natssfta, lfjrthe and Le, aj wrth (lw (huffh r$, thwth war(kn5, and lay member5 of thuFches a(TOSS the Pa&JiTh)ton Missicffl Ccffidor have red tr) explo riThJ how ministry $$ this area can develoFal. enhan aThJ 9JpFthed. The se55Ws have covered RltaIlSation of paTsh life. Children & Record Keeplng. We have trans from W"ng key 6ments in paper form to an lre 5tryage system Is organi5ed and Morning Star (Borough Parish), an IndeF8th)t church, contlnuèj worshlpplng In the church on Sundays.
THE TRUSTEES DE Grand Junction at St Magdalene's PCC Prooress Repor( February 2026 'Ylw f flakAC i 4&hi)i}l i'j%ljiiiJ fiir'Crdad AM4d' tbe•lY Ill OctobEr 2025 Work in progrus perform4ntt of the fint thttrtsknw'Ho•e' Ib•t GJ bve pnldmeed, worklng wlth 00 Ar&il? creulr%e t3m. %li Cboir wform*nce ID Juty 2925 Zwmh. April 2025
REPORT OF THE TRUSTEES CE146Ek 21)25 GrBnd lunttlon at St Mary Magdalene (contÉnued) VIP Cl¥b Nigh6 for learn dIbled dills Mr¢h 2025 {nd siRce th¢D in Juli #lid U?$1 Flrst Westbourne ktslory to•r. 21125 Grtsd JHBc¢lgu dlgl¢•l Septemb¢r 21n5 mmarv oi #Lyivities: Communi Pro ramme: We continuc io deliver 16 cl&8ses a wttk wtth over 2 adults and young people attending, led by our Community Projects Manager and Young Peopl¢ and Families Manager. Manv ofthe classes continue to have a wellbeing and health. as well as arts, focus. For young people, we have intr(Mluced an open acce%$ youth club provision, fimded by Westtninster Council. This has proved popular with 25-30 young people attending each week. Herita e Ydnd Volunteerin Our brillianl Heritsge and Volunteer Manager for over four years, Holly Henry, left for a new role in June 2025. However. we have been lucky enougb to replace her with Alan
PAD RT OF THE TRUSTE ECEMB Grand Junttion at St Mary magdal}e (continued) Kirwan, who is highlJ experienced and hit the ground nmning when he took ihe role up in July. Alan finished the process ofworking with volunteers to develop our ncw digitsl guide, which weni on to launch in September. The building tours continue to run. but have now been added to wlth Wesibourne history tours and a Windrush in We8tboume tour that launched in the autumn. Three successful cultural events celebrating the Sudanese and Caribbean communities have taken place. "I"he Echoes of Us, Caribbean digital storytelling project is currently running with 8 good take Famlly Shows: We continue to deliver monthly family theatre shows with funding fmm Arts Council, seeing high quality touring theatre coming to Grand Junction. We have also otTered Ihree of these shows to local schools over the past year. with more to come. Concerts and Arts Progrnmme: We have continued 10 hF&ve a Sleudy Stream of conc£rts and ceilidhs, with the majority brought by external promoters and some are presented in-house by GJ. Caplt#l Works". 'The Lapital wurks project. funded by Westmtnster's North Paddington Programme, continues to move fotward. Purchases have already been made of new chairs and stage equipment, and adaptations to the toilets to improve access. In May- June the Nave will be closed to allow the works to install the new audiu and AV Systems. We continue to WO closely M'ith Laroe Architecture, 3$ architects and project managers. Fundr#i$ing: We continue to work hard at fundraising, in a very tough18nd%ape. Recent funding application successes have been the GLA Loved and Wanted funding. making us one of 30 Lowed and Wanted venues in London. Plus, Ihe Arts Council's Supporting Grassroots Live Music t"undin8. and additional fundin8 trom Westminster Public Health t.or a Healthy HearL programme. We have 8 busy Couple of months ahead to submit bid5 to raise the additional funding needed for 2026127 financial year. We a140 launched an individual giving heme this year. running a summer fiJndr8ising campaign inviting everyone to donate what they could. In November the very successful Magnificent Music fuiidraiser concert, rnised nearly £20,000. Website and CRM: Through funding from Bl(K)mbeTg's Digital Accelerator fund, we are in the process of developing a new CRM and website, which will improve user experience, allow foT easier reporting, better capture of data, and will ultimately drive 8fvdter traffic lo the building and income.
AROCHIAL CHURCH COUN REPORT OF THE TR FOR THE YEAR ENDE BER 20 AGDALEN PADDIN ED Grand lunction at St Mary Magdalene (conb'nued) Paddington Development Trust: In July 2025, Neil Johnston PDT'S founder CEO retired, with a big party ai GJ to say goodbye. In September Graham Collins took up the CEO posL and has been working to make a nuinber of operational iinprovements to streamline and make easier how we do things. 202.$ in numbers: 4.973 visitors (this Incl PArish numbers for Sundays) taking s to 167,682 visitors sitKe in in2019. ,481 participati(w in our &Jult with 16 cla&S offere4J each eek on ave We 3.847 IMtiCiWi(ML8 by thildw y(Mm8 PQ)pl¢, and families ommunlty nts: e playol a big in the WiThlnth Wekn Festiv in une 2025, otrerin e currently hAve 217 x*ive volunteers with around 50 olun¢eerin 5 ¢on¢erts and includin8 family Sfr attended by l 0,864 ple, meaning now over 33,968 people have attended a Cultur event sic and arts ryts:
Pa8elO PAROCHIAL CHURCH C - OW. MARY MAGDALE Flnandal Ravlèw Unsttted funds As detailed in the Finanttal Staterts the tctsl ¥rn2 c¥din3ry un was £25,755 vthlle the trtal eX{tU arr¥ to £21,fJ84. The b) £9,373. The unrerlrt&J totaw £101,335 at 31 December 2025. We alKJ raLsed £17.935 frcm cunmunity tb'r ror 2025 Mcrfning Stai wa5 agaffj the orfy tjjr agre&d a 2026 Cm¢) fvJNJ oifer crf £12.( RestFKted funds Our rebtxthd funds at ar end decreased ty £9,305 to glve a trknl of £85.742 at 31 Oecembu 2025. Thls consisted of £61,757 In the SMM Fund aTrJ £23,985 in fuThts. Re5eNes Its opernb"ons. The Trustee5 have regular meetlno5 ro dlxus5 aThJ cc4)slder the status of the ¢Jurth 5 fundltvj, resefft5. risks and inve>Jwts. Pwt of ow Unrestr funts Is a d&JKed Reser fij1 rf £7,191 Statement of responslbllltles ot the Trustee¥ of P.C,C. SL Mary Magdalene In reApert of the Trust4e%' annual report and the flnancial statements The PaffKhial chUh thjwl's Members a resrthth ftr prepariThJ a truses' annual tEwt and flnarK441 &atiieits In accordan with ao)IKable law and Unrted KÈnokni AuJJuniry andards (United KKwd¢yn General Accepted Accounbng Practe). The Jaw applkabk to drtIeS In Englar and Wales r4ulre5 the tharlty tru#ees to prepa flnanoal stsiements for each year vthKh gi a true aThJ l•r view of the ate of affairs rfthe dwity and ofthe Incomlng reurCeS and aFyIloon of reSr. of the charlty for that perbj. In preparlng the flnanoal statements, the trustees a required to: sdett sultjble account4n9 rdicies and then apply them C$1$tentty,. obserye the melhods and wkndples In the applk2bk Charltks SORP; make )agements and &mates that are reaxjnatle aThl wut. slats whether aokable aecrMJntlThJ StsIrS teen fuknR. to any mattrial departures dikto and ewained in the flnanaal ststennts; and preFore t finasKlal statements ts) t4515 15 Inapprqy#te to that the ¢&npany will coth.rtue in bu4ness. the flnanaal w914)n ofthe dwty and to enatsle them to engJre that the fina101 ststents wth the OUre$ ALt 2011, the current Cfrurth Accounyng Ruti(lS the a0((ae Ctsrlues and Rep)rt51 Reg¢JhVons. and the provlsions of the Trust deed. They are alg) re¥y)sth for safeguordlrrfj the assets of chanty and tskiThJ The trustees are resp1b for the malntenatKe 0j Integrfty ofthe thalty and Infc*mth tsKluded on the charws webslte In wlth the Untsl gLwemtyKJ the aThl d&SlinatIon of nnandal 5tstements. Slgned on 2ehaLf of the PaTochJal CThurch c 3r4 2026 V5r nia A£hton warden
P8ge11 INDEPENDEKf EXAMINER'S REPORT TO THE MEMBERS OF PAROCHIAL CHURCH COUNCIL OF ST MARY MAGDALENE, PADDINGTON I rerth on the accounts cl the Clwty 8Mled 31st December 2025, whlth a set out on pages 12-21 RpO11tkn and bath irf report As the charity trustees of the Tnjst are respxtsibk f(Y the the accounts In accordan wlth the requlTEments of the Char6th5 PLt 2011(tr kt) I reth In resp* of my exanlnatkn of the Tru$ (arrl&J Sett 145 of the 2011 Act and in cAryiThJ my examaC I have follow&J all the awlicable given by the Charity Comm]ssi1 under section 145(5Xb) of the A(t I have completed my MInatICl. I cont]rm O)at Tr) mater4al mattèJ5 ccffie to my attth In connethon wlth the eyAmlnakn gIvI cause b) that h any materlal resp&t: I, ac(JntJ wwe kept In respert of tre Trt as r1r8 130 of the Att: 2. the ac¢xMJnts th not accord with tIK)se reci)rds' rx 3. the accounts do Th)t comr4y with the appli(at4é requlrements cotxemlng the fomi and content of Kc<wts set cNJt in the CharftÈs IP£ciNrt arnl ReF(Mts) RegulatIS 2008 other than arv UlTernent that the nts glve a •¥J falr vlthrf Ithich Is not a matter conslthr&d as part of an bFkleFdtht I have no concems and have come To$S no other matters In o)nn&tion wlih the examinatijn to which attenti¢)n sht)ukl be drawn In this repcrt In ¢Ndw to enat4e a urMlerstarKIIj of the SigneLI Nam< Address & rdevant quaiiftstlon(If ary) AN)RE•4 140 184 I+&LLRoFf lesL06 £r L/0 K)tJoAJ Dote
Page 12 PAROCHIAL CHURCH COUNCIL OF ST MARY PAAGDALENE, PADDINGTON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEM8ER 2025 TOTAL TOTAL unrestri RestrKtl Endchvment FUNDS FUNDS Funds Funds Funds 2025 2024 Notes Incoming rn8ourc•8 Vokntery income Activities to further the of Ihe church 5,093 9,891 14,986 11,343 18,269 18,269 19,251 Incom8 fmm operatn acliviligs to gengrale fvnds Income from investm8nls oth8r inttming rnsou Income forSMM R&M 2.392 113 2,193 4f Total Incomlng mourc•• 25.755 10.005 35,739 32.787 R••otsrc•• •xp•nd•d Chu Actsvlties 21.187 1.250 22,437 23,843 1,573 5,208 Church management and administration SMMR&M Olhgrpayments Govemance Costs Total rg8ourc88 •xp•Trd•d Sb 10.809 10,809 2,800 33,424 21.684 12.119 33,803 Not Incomlnglloutgolng) Mouro•8 Trnn8f•r b•t••n fund 4.070 7.191 {2.114) {7.191) 16381 Othor reeognisod gamsfiosses Gains/(10sses) on investment assets N•t mov8mant in fund8 11,888) 11,8881 (1,3071 {1.239) 7,099 777 1,307 11.307) 9.373 (9.305) 7.238 Total fvnds brought lorward at 1 J8nu8ry 2025 91,962 95,047 40.614 227.622 220,384 Total funds ¢arrl•d forwald at 31 Dgcombor 2026 101.335 39,306 228.383 227.622
Page 13 PAROCHIAL CHURCH COUNCIL OF ST MARY MAGDALENE. PADDINGTON BALANCE SHEET AT 31 DECEMBER 2925 Notes 2025 2024 Flx•d ass•ts Tangible a¥8ets Quoted Inveslments 5,211 39,3C6 7,099 40,613 Total flx•d a88ats 44.517 47,712 Currnnt 88••ts Debtors Cash at bank and in harKI 780 181.052 181832 181,086 181.866 Credltor8'. wnounts falling du? wthin ono year rl•t curv•nt a•••ts 181,888 183.755 NET A8SET8 228,383 231.487 Fund• Endoyffliont fund8 11 39.306 40.613 R••lrl¢t•d fvnd• 10 85.742 96,047 Unro8trlct•d lund• 101,335 91.962 228,383 227,622 Approved by the Paroch1 Churth CourKil on the 3rd May 2028 al swed on its bahaLI Les Chakravorty Treasurer inia Ashton Churchwarde
Page 14
PAROCHIAL CHURCH COUNCIL OF ST WIRY MAGDALENE. PADDINCTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EMDED 31 DECEMBER 2025
1. Accounting polKie8
The Par(thal thurch CourKil the E(thslastical Parlth of St Mary MagdalaR, Pa#dington,15 a
Parish Chur(h, djrldled in ENJlaTrd, wlth Owities Cclmmiskn regisbztkn number
1131696
The Church is a tharity arkl i4 rgjulated Qwities Commision the urth OF EngLand.
Statementof
The flnancal strtements have be prer&I in accordaTh2 wtth N£0JJnu and Retmyb'ng by
Charitles., Ststement of Recommended PrèctKe èpr4icable to charities preparing thdr accounts in
aC£Ordan wth the finarjaI RemrKJ Standard In UK aTrd Republ of Ireland
(FRS102) (effective l January 2015) - (LhritE5 SORP (FRS 102)), the nala} Rewti
Standard applicab In the UK and Re of Jrelarxl (FR5102) (as amend&1 fy SORP urdate
bulledns I to 3) and the crits P£t 2011
ThÈre were no matthal de?rtes from the standard.
The Charlty meets InIt of a pubitc tsty FRS 102. Assets lthllties are
inStlally reccgnised at hlstclcal cost transaction value lesS otherwise staw In relant
accotJntlr¥J rrf)1 note(s)
The flr1a1 ststements are In sterilrrfJ whlth Is the functhl currw charlty.
The prtncrpal accountrrffj pdioes ¥JoptaJ trE finar#ial stateMts are t rRrt
below and have remalned urKhang&J frthn the prS , ?1 al have teen ctlY appllexl
within the San ac£ounts'
(a) Basls ofAccounts
The Financial Statements have In C(da with the current Churth l£countlng
Regulatlons, tcgether w6th aw)lthtle ac(rmtirrfJ Statsrds arKI awlljes 9XP (FRS 102).
The Rnandal Statements have ur*dtr the hi5t
Page 15 PAROCHIAL CHURCH COUNCIL OF ST MARY MAGDALENE, PADDINGTON NOTES TO THE FINANCIAL STATEMEKfs (continugd) FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng Polldes (contlnued) {b) FundsA£rounbng nds held ty the F£C aFe,' nrestr (kneral fu1$ ihat can be u1 tr the FCC pj1. In the teffl crfthe trust or tquesL Donatlons or grants receNed for a s objett cff invtrd by the PCC for a swfic Obj1. The fvnds may onw o%rnded on the stedfic obJeLt for fwere balarKe rell471rvj wisp& at end ofthe year Is Car Icthard as a balarte th fiJTh1. (c) All Inc1ftg resou$ a accwrrted frx grn5& Manned gfvtrKJ when rrfthd. (knnts arbj Iwjades are recwlJ WI the KC Js l&ylty ertthj tothe due. Dfvldends are aco)urted for wthen pwffit4e. Interest pJthrnts are acCnj l( as i JI cther Qme Is Ss fffeivable. Realised gairs are re0yjnis InveStff are sohj. Unreali5ed galns and losses are Cjnt8j for on revaluathjn on 3tst f*cembw. Idl R850uces expended Resource8 exFended are accounted for on an Kuual8 b881¥ and are for grKB$. Grants Grants and donations are %xount8d paid over. or wh•n ¥33 wh8r8 the award creates binding obligab.on on the PCC The dtocesan parish ntritArti0n is aoy)unted then paid. Any parish (xxrtributitx) unpaKJ at 31st De(HntEr is provi(kd f(x in these &courrt5 as an (wat¥J)al (h Th)t a leg31) liability Is shown a5 a tJBlTrtcf tn the bal3n theet
Page 16 PAROCHIAL CHURCH COUNCIL OF ST MARY MAGDALENE. PADDINGTON NOTES TO THE FINANCIAL STATEMENTS (eontinu•d) FOR THE YEAR ENDED 31 DECEMBER 2025 l Accountlng Poli¢i•s {continued) (e) F&¥edknets Tanoibie fixaj assets Moveable church fiJmishiThJ hekl ty the Chur¢hwa on 5p8ial tsust for the PCC and whtch requi a faculty dISl, are 0jJnt as inalknable unless ojnsajal. TW are Ilsted in ts churth's Invenkny vjhbth w te irw. Investments Investments are ststed at mats Val at the balae (late. (n CurnertAssets Amounts (WITYJ to the PCC at 31 Decemter kn resFed of rel>,ts or othw Inosme are sh(Mfn as debtors less provisk)n for amwnts that may prove uncollectable, Short.t&in dew%ts Ir1 cash hekd on deposit kn wth tt CBF awrth crf England nds, or at the bank (g) 88sK finartYalvm other (kbtys are rwised Initlalty at 1ransXn rrte affixtsble transactth costs. Other creditors are rectynlJ Inttlalty at transaTr SKI Fdus attritMJtaL4e tran&tt costs. Subwuent to inltlal rÈrcgnitson they a measured at amortised cost usJrKJ effeth've interest methc¥J, less any Impalrnient losses In the case of trade debtors. If the arraroement CC$tteS a flnanc4NJ trantion, for examp If paym&rt Is deferred rK>mal tms, then Itls m6jred at the psent valLE of futt4re paYrn dnted at a mwket rate of Instrument for a Imilar debt Instrument. (h) sUptCaall(at supp costs, whKh indlttde fundi(YL4 as general management, budgeb'rKJ and accountlrKJ, Informattrfb tethnoiogy. human resr finaTr3 are allcKated auoss the 2 Trustees, Emoluments The TJ5t were rElmtyJrsed £164 {2024..£3) for gjxls pwd5ed for the thurth during the 3 Employee Infornhit The average numby of pwsons (irKluthngthe aer* to the Tnjstees) employed during the year was nil (2024'.nil). The thjrch bene fr(xn the Serv of ca. 30 unpaKI volunteers (2024: 30) wl)o perfomied a myriad of tssks. and wIth(rt Wh the Church would not be able to funrth)n.There were no secled staff from cts cganIsatn$ (2024; nil).
Page 17 PAROCHIAL CHURCH COUNCIL OF ST MARY IAIGDALENE. PADDINGTON NOTES TO THE FINANCIAL STATEMENTS IntInued) FOR THE YEAR ENDED 31 DECEMBER 2025 TOTAL FUNDS 2025 TOTAL FUNDS 2024 UnrestrNAed Restricted Funds Fund8 Voluntsry Jncom& Plannod giving Collection8 and other giving 1,888 1.362 311 11,433 1,825 2,116 335 7,067 1.352 311 1.542 Donations Don8tiln5 Irom 011 Tru5151Charrts88 9.891 9,891 Activil*s to furtherlhe th ollhe Chh Local community us8 of the Church Centre Feès from weddSng$ etc FuntJrai6inglcommunty acttviti88 17.935 334 17,936 334 17.675 1,576 269 c Income fmm cp•rntion to germt& fund9 d Inveslmant income Dividends & Inter06t 1392 113 1193 113 0th8roth8rln¢omln9 Ivg)uirss PAisc•llaneous f SMM R&KI Total Inry)mlng r8soyr¢a8 25.755 10,OOS 35,759 32,788
Page 18 PAROCHIAL CHURCH COUNCIL OF ST MARY MAGDALENE, PADDINGTON NOTES TO THE FINANCIAL STATEMENTS {continuad) FOR THE YEAR ENDED 31 DECEMBER 2025 TOTAL Unrestrjthed Restrtted FUNDS Funds Funds 202 TOTAL FUNDS 2024 FundraisirwJ Activthes Church ActNit*s Diocesan porish share chh running èxpens8&r¥]ca Costs Organ repairserVice Organi51 CommunltyllAlnlsty Insurance Building maintenBnce RenewaVReplacemenUR6pair Miscellaneous SU118$ 11.600 599 10,000 1,566 2,016 3,298 4.120 4.120 1.300 1,2SO 160 3.600 510 155 3,600 510 8.211 22 37 b chh m&n8g&ment and admlnislratic Office running ¢oslthhphon• Bank ch8rges vra9 Ifiear ¢xpen8 133 47 317 133 107 317 243 132 1.198 SMM Bullding Fund 10.809 10,809 5,208 10,809 d oth#rYrn•nls Independent examination fee I for 2023) 2,800 2,800 Total ro¥¢0$ •xpeDded 12.119 33,423
Page 19 PAROCHIAL CHURCH COUNCIL OF ST MARY IAAGDALENE, PADDINGTON NOTES TO THE FINANCIAL STATEMENTS {contlnugdl FOR THE YEAR ENDED 31 DECEMBER 2025 6 Flx•d A88ets 64 Inv•strTrgnts 2025 2024 St Martha's Hall Trust. Quot8d Invesknents Market value 1 January 2025 Unreali8ed 98in8 11108868) Market volu¢ 31 December 225 Cash DeFK)grt Balance 34,397 1,307 33.090 6,216 39.306 33,620 777 34,397 40,613 Invesknents at the y&2r4nd comprtsè £39.W at m*k•t valu6 in St Alartha's Hall Tw Sl Martha's Hall Trust Invfrsbnenl is held at C8F Church of England Inv8sbnenl Fund. Only tha inlereBt frDm the inves1nI ra avÈrfa>le to the PCC. the c#pttsl remain8 intact 6b Tanglb Figur88 Fyurps 6.211 1,000 5,211 Hymn Book8 Depreoat Al 31st DoCbr 2025 Total 5,211 2025 2024 Svndry débtors 780
Page 20 PAROCHIAL CHURCH COUNCIL OF ST hlARY MAGDALENE, PADDINGTON NOTES TO THE FINANCIAL STATEMENTS Icontinu•d) FOR THE YEAR ENDED 31 DECEMBER 2025 8 Cash at Bank & In Hand 2025 2024 Caf 88nk HSBC Uk pk 61,757 119,329 65,44i 115.609 181,052 9 Credltorn 2025 2024 AccTual8 Other ¢rvdrtOTS 1,923 1.923 10 Rostrletsd Fund• SMM R&MI Othar Tot81 Balance on 1st January 2025 Incomo Expenditure Tran$fer Transfèr to unre8triGW fund 8810nc )n 318t Decem 2025 63.521 4,088 10,869 5,016 31,526 5,916 1,250 -5,016 -7.191 23.985 95,047 10,005 12.119 85,742 Th6 bal#rt• of ProJ•ct Fund h91 twi as a nklI¥J fuThJ futttt• repairs & rnaint*nance. Tho is known 88 SKIM R & M Fund.
PAROCHIAL CHURCH COUNCIL OF ST MARY MAGDALEN PADDINGTON NOTES TO THE FINANCIAL STATEMEltrs Icontlnued) FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Balance on 1st January 2025 Gainlllosg) on invBtrnent Balanc• 31st t)acwnkn 2025 40.613 -1,307 39 306 39,836 777 12 A•o•ts b•tr•4Mn Fund• Total Fund$ UnrestrKed Rostncted EndcAYment Fund8 Fund8 Funds 39,306 Fixed A86t Investmts Debtors Cash 31 bank and m hand CredrtoryJ 5.211 780 9S.344 44,517 780 181,088 8S,742 101,335 85,742 39.306 226,383 2024 Total Fund8 UnrestrKted Restred Endowm8nl Ful¥ Funds 40,613 Fixéd Ass81 Inv8Stm6nl8 DebtOTS Cash at bank and In harKI Cr¢dbtors 47,712 780 181.052 -1,923 227 622 84,083 96,969 -1,923 13 During the yeaf the Chanty 6ftter8d inlo no transactions.in tho ordinary or not in the Ordinary course of business, with s)thor rel8ted p8rtw. 14 Oth?r Flnanclal Commltments At 31$1 December 2025 the Charity no annual cLNnMttMts non<an¢4llable Opgfaling k08es 15 Contlng•nt Llabllltl•6 At 31st December 2025 th& Charity had no contingent Lbl"es. 16 Off BlAnct Shoot Arrangemts There were no material off4)alance sheet wr8ngement8 to di8cb8e 17 Financlal Instruments The Charity has no olher fin8ni?al Th1nlS than finbnts81 instNments 18 Tru8teé6' Advances. Credlts and Guar•nte Theie were none made lo the trustees