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 corres￿*n(￿nce athjress is The vkar￿e, 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: U￿n￿l Clergy., The R*d 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 A￿1 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&M￿S 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 I￿nefts wlth St Peter Elgin Avenue, which means that one Incumt￿t-5tal￿S prlest Is ap￿Inted 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 c￿anY 3652559, www. t.or .uk) who l**J a 1&75e on the buildirtgs {the church aThJ communty C￿ att&heAI) urojer datal frcffi 2017 to Dec￿rter 2041,wtth Sundays and some other times and Some parts for the PCC, The Collai￿tIOn of the PCC and PDT is known as the 'GraThJ Juncbon., The PDT deltver community work In the churth in part￿rshIp vlth several other organi5abons. The churth ranains primarity a pl￿ of V•Drshlp. The governantr of Grand JUnct￿n 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 j￿b. the fom*r Archdeacon of Charfng Cross. Staff ap￿Intments and flnancièl dec￿lOn5 are made by the Board but the PCC ￿taITr5 its statutory rlghts and oversight. The parish Annual Meeting has &*Jpted a wot￿01 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 VtarlPblest4nard. Tr PCC also seeks opwtunrbes to enhan￿ its own fundraF5ifrfJi for example throwh er￿rag￿r@ church mem1￿r5 aNI vlsltors to donate and over￿[n9 its own direct hirir¥J agreements. Other ris￿ ind￿￿ng 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 t￿e1Ved 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 Re￿rt 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 p￿e4 PAR OUNCIL OF sr. M•lRY MA REPORT OF THE TRusfEE NDED EMBE maIntenan￿ ol the Fabrfc Day to ijay MaIrt￿aKe 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 sy*m wthin the nave. A gTrnt was also 9)ught for the (kaning and repair of t￿ ti t]￿r wlthin the nave. The Counol confim*d thd"r intenkn to w the grarrt in May 2025. Contractors weTe engaged to prepare proposals for eath ek￿￿t of the ￿. The Ffc aTrJ GraN1 are a￿v￿d by Caroe Arrhrt&ts. A was athied fo¥. The work to upgrade the IhJhiiTrJ and 5ytsn is 9*thI￿1 to commerKe 2[￿ 2026. The th to the fl(v)r tiles will take as a seco￿1 pha* duriftg summer 2026. nmkant work wlll be kwled to tr* wbKirxil cygan in use. The txgan In the un(lerttoft ￿MaInS UnLL4ble, wth ful￿5 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-d￿rge's min15try & wrth a part￿ar foots on ministy at the church school and a Itxal r3re h[￿￿. Usual Sunday attendan￿ was 12 (2024: I￿16- wlmth vthen & Petsrfs was thsbJ),wlth 74 {36) 55 the 2 Easter seNw. ￿stered ty a b3rO>n M Ea*r Day. There was I wedding and t tsaptr"5m. The electoral rc41 rewrted to the 2025 AF%)I was 14 (2024: 30), an exr*cted reJu¢tl)n from the pre￿J5 year as t was a full revision. Thursday evening prayer (c￿tinUed eath vrt leA# ty tKth lalty dergy. orow1r￿ irnpact of sredal seNtes a fe*Jre of ttE star. St Mary Magdalene% Cw. The trnlltbnal All Swts Mass, Sup￿rted by Sjssex House Schcd. tts)k pL￿ as usual in a packoj chLsrch. The Dedicati￿ Sery1￿ in October wa5 develoK*d into an occaskjn fcf Grand jU￿liC￿ staff and ¥c4Untee￿ to C£￿e together with (hurch meM￿r$ 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. Early￿lIdnIght mass lat 9w) also rwikr with atrerthn￿ of 60 145). Cther spedal seryl i￿luded choral evensong and benedict￿, whKh the debElo￿Trent of a grtyjp of ￿C?5￿MIal sngers Into a parish.run voluntary th"r gr￿Ing for thurch ser¥tss or twKe a temi, aNy cnnverÉd and dlrected by c4Jr DI￿o￿Or of Music, James Paget. A and encoLrraglng fuThlrdishw M•Jnkficent Mv51c t￿k *e In the aTrJ t5 r￿￿ted on esleythere. st Mary Magdalene & St Stepkn's Sthool Kirstsne shares Coll&tNe w￿ship on Tuesdays Rev Rthrd t*er from St stephen s. The￿ a￿ g(MThJ very well and the 5chogJ are well engaged wth the &blical contenL ￿rStIne ha5 a F*ayer sp￿ day f£t￿r￿) ￿ The Lord's Prayer, and the pkin is to do one per schod term. Kirsts'ne a19) led a stsff train￿ Se551￿ on ()￿S￿an Sw'rthality which was well r￿1ved. T(oether vAih tr* head of ￿c￿ aFKI I￿thard 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 Y*ekty 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) YA*n new re5klents arrive who might Ilke a vi*t REPORT OF ThE TRUSTEES ST DECEMBER 2 SL Mary Magdalene and Gr￿￿1 Jun(th*n St. Mary magdale￿ enjoys a ￿n￿ue 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 ￿ comM￿ty. Volunteers condLKt regukr gLsided of l thurth aThJ chaw. desw by fArge Street and &"r Ninian Comper res￿￿¥￿Y. In 2025 the charfty laU￿d a prcoramme Lrfguthd hl40ry walh5 centsJ cm the thurch whkh explore the s￿la1. cU￿rdI and economt hlst(ry of tr* slwrw￿ing area. Magnlflcent Muslc In Novwnber we hek1'M￿￿￿cert Mus<, cwr flrst major fvThJra&￿j (￿r￿rt . 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 da￿e rcth three young speaknng their own words. Thls was fdlo**d 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 *j￿Se 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 fai*d £20,LKQ, irth1ir¥J ￿￿eY afteThMrds. for ￿)fic kyojects It was a truty.magn1fi￿nv eveningl St Mary Magdalene m￿￿C Sodety Our a$￿atIon Y￿th the St Mary ma￿kne 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 C￿1r, gave a liturgical FerfOrThan￿ of the fteqU￿ ty Maurte Durufié, one.bme PresKlent of the Mustc knety. The Sussex House Slngers Sc40ists Q￿Cert 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$4n-tsFkld5, gave the annual ￿rufté Memona5 Reo"tsl. LwWrrfJ to the wlder benefry St Mary c(xthwl to wth St Petsrfs for Jc4nt Sery￿s. socJal Roundtable Meetlng8 r the past few months Natssfta, lfjrthe and Le*, a￿j wrth (*lw (huffh ￿*r$, 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 R￿ltaIlSation of paTsh life. Children & Record Keeplng. We have trans￿￿￿￿ from W"ng key 6￿ments 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'Cr**dad AM4d' tbe•lY* Ill OctobEr 2025 Work in progrus perform4ntt of the fint tht*trtsknw'Ho•e' Ib•t GJ b*ve pnldmeed, worklng wlth 00 Ar&il? creulr%e t*3m. %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* dI￿bled *dills M*r¢h 2025 {*nd siRce th¢D in Juli #lid *U?$1 Flrst Westbourne ktslory to•r. 21125 Gr*tsd JHBc¢lgu dlgl¢•l Septemb¢r 21n5 mmarv oi #Lyivities: Communi Pro ramme: We continuc io deliver 16 cl&8ses a wttk wtth over 2￿ adults and young people attending, led by our Community Projects Manager and Young Peopl¢ and Families Manager. Manv ofthe classes continue to have a wellbeing and health. as well as arts, focus. For young people, we have intr(Mluced an open acce%$ 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 Un￿st￿tted funds As detailed in the Finanttal Stat￿erts the tctsl ¥r￿￿n2 c¥din3ry un￿￿￿* was £25,755 vthlle the trtal eX￿{tU￿ arr¥￿￿￿ to £21,fJ84. The b) £9,373. The unre*rlrt&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 C￿m¢￿) 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&JK*ed Reser￿ fij￿1 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 chU￿h thjwl's Members a￿ resrthth ftr prepariThJ a trus*es' annual tEwt and flnarK441 &at*iieits In accordan￿ with ao)IKable law and Unrted KÈnokni AuJJuniry *andards (United KKwd¢yn General￿ Accepted Accounbng Pract￿e). The Jaw applkabk to d￿rtIeS 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 re￿urCeS and aFyIlo￿on of reS￿r￿. 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 wu￿t. slats whether aokable aecrMJntlThJ StsI￿r￿S teen fuknR￿. to any mattrial departures dikto and ewained in the flnanaal ststen*nts; 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 fina￿101 ststen￿ts wth the OUr￿e$ ALt 2011, the current Cfrurth Accounyng R￿u￿ti(￿lS the a0((a￿e 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 resp￿1b* for the malntenatKe 0￿j Integrfty ofthe thalty and Infc*mth tsKluded on the charws webslte In wlth the Untsl gLwemtyKJ the aThl d&S￿linatIon 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 R￿pO￿￿￿11tkn 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 exam￿a￿C￿ I have follow&J all the awlicable given by the Charity Comm]ssi￿1 under section 145(5Xb) of the A(t I have completed my ￿MInatIC￿l. I cont]rm O)at Tr) mater4al mattèJ5 ￿ ccffie to my at￿tth In connethon wlth the eyAmlnakn gIvI￿ cause b) that h any materlal resp&t: I, ac(￿JntJ￿ wwe kept In respert of tre Tr￿t as r￿￿1r8￿ 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 Kcrmal ga￿7r￿J5 of thurch memtws. The Trustees have reviewed the Charivs financial kx)s6bM atKI c(￿tsIdered the Im￿t of futu actlvlties, to en>JTe It is apwcyrlate to w(Kly￿ ￿c￿nts a goiw c(KKem basis. 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 fu￿1$ ihat can be u*1 tr the FCC pj1￿. In the teffl￿ crfthe trust or t*quesL Donatlons or grants receNed for a s￿￿ objett cff invtrd by the PCC for a swfic Obj￿1. The fvnds may onw ￿ o%r*nded on the stedfic obJeLt for fwere balarKe rell471￿rvj wisp&* at end ofthe year Is Car￿ Icthard as a balarte th* fiJTh1. (c) All Inc￿1ftg resou￿￿$ a￿ accwrrted frx grn5& Manned gfvtrKJ when rrfth*d. (knnts arbj Iwjades are recwl*J WI￿ the KC Js l&ylty ertthj tothe due. Dfvldends are aco)urted for wthen pwffit4e. Interest pJthrnts are acC￿n￿j l(* as i JI cther ￿Qme Is Ss fffeivable. Realised gairs are re0yjnis￿ InveStff￿ are sohj. Unreali5ed galns and losses are ￿C￿jnt8j for on revaluathjn on 3tst f*cembw. Idl R850uces expended Resource8 exFended are accounted for on an Kuual8 b881¥ and are for grKB$. Grants Grants and donations are %xount8d paid over. or wh•n ￿¥3￿￿￿3 wh8r8 the award creates binding obligab.on on the PCC The dtocesan parish ￿ntritArti0n is aoy)unted ￿then paid. Any parish (xxrtributitx) unpaKJ at 31st De(HntEr is provi(kd f(x in these &courrt5 as an (wat¥J)al (￿h Th)t a leg31) liability Is shown a5 a tJBlTrtcf tn the bal3n￿ theet Page 16 PAROCHIAL CHURCH COUNCIL OF ST MARY MAGDALENE. PADDINGTON NOTES TO THE FINANCIAL STATEMENTS (eontinu•d) FOR THE YEAR ENDED 31 DECEMBER 2025 l Accountlng Poli¢i•s {continued) (e) F&¥edknets Tanoibie fixaj assets Moveable church fiJmishiThJ hekl ty the Chur¢hwa￿ on 5p8ial tsust for the PCC and whtch requi￿ a faculty dIS￿l, are ￿0jJnt￿ as inalknable unless ojnsaja￿l. TW are Ilsted in ts churth's Invenkny vjhbth w te irw. Investments Investments are ststed at mats Val￿ at the bala￿e (late. (n CurnertAssets Amounts (WITYJ to the PCC at 31 Decemter kn resFed of rel>,￿ts or othw Inosme are sh(Mfn as debtors less provisk)n for amwnts that may prove uncollectable, Short.t&in dew%ts Ir￿1￿ cash hekd on deposit kn wth tt* CBF awrth crf England ￿nds, or at the bank (g) 88sK finartYalv*m other (kbtys are rwised Initlalty at 1ransX￿n rrte ￿ affixtsble transactth costs. Other creditors are rectynl*J Inttlalty at trans￿￿aTr SKI￿ Fdus attritMJtaL4e tran&￿tt￿ costs. Subwuent to inltlal rÈrcgnitson they a￿ measured at amortised cost usJrKJ effeth've interest methc¥J, less any Impalrnient losses In the case of trade debtors. If the arraroement CC￿$￿t￿teS a flnanc4NJ tran￿tion, for examp￿ If paym&rt Is deferred rK>mal t￿ms, then Itls m6￿jred at the p￿sent valLE of futt4re paYrn￿ d￿￿nted at a mwket rate of Instrument for a Imilar debt Instrument. (h) sUp￿tCa￿all(￿at supp￿ costs, whKh indlttde fundi(YL4 as general management, budgeb'rKJ and accountlrKJ, Informattrfb tethnoiogy. human res￿r￿ ￿ fina￿Tr￿3 are allcKated auoss the 2 Trustees, Emoluments The T￿J5t￿ were rElmtyJrsed £164 {2024..£3￿) for gjxls pwd*5ed 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 sec￿￿led staff from cts c￿ganIsat￿n$ (2024; nil). Page 17 PAROCHIAL CHURCH COUNCIL OF ST MARY IAIGDALENE. PADDINGTON NOTES TO THE FINANCIAL STATEMENTS I￿ntInued) 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 Ch￿￿h 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 ch￿￿h running èxpens8￿&r¥]ca Costs Organ repair￿serVice Organi51 CommunltyllAlnlsty Insurance Building maintenBnce RenewaVReplacemenUR6pair Miscellaneous SU￿118$ 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 ch￿￿h m&n8g&ment and admlnislratic Office running ¢oslthhphon• Bank ch8rges v￿ra9￿ 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#r￿Yrn•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 2￿25 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 inves1￿nI 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 DoC￿b￿r 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$fer Transfèr to unre8triGW fund 8810nc* *)n 318t Decem￿ 2025 63.521 4,088 10,869 5,016 31,526 5,916 1,250 -5,016 -7.191 23.985 95,047 10,005 12.119 85,742 Th6 bal#rt• of ProJ•ct Fund h91 twi as a ￿nklI¥J fuThJ futttt• repairs & rnaint*nance. Tho is known 88 SKIM R & M Fund. PAROCHIAL CHURCH COUNCIL OF ST MARY MAGDALEN PADDINGTON NOTES TO THE FINANCIAL STATEMEltrs Icontlnued) FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Balance on 1st January 2025 Gainlllosg) on inv*Btrnent Balanc• 31st t)acwnkn 2025 40.613 -1,307 39 306 39,836 777 12 A•o•ts b•tr•4Mn Fund• Total Fund$ UnrestrK*ed Rostncted EndcAYment Fund8 Fund8 Funds 39,306 Fixed *A86t Investm￿ts 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 Restr￿ed 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 cLNnMttM￿ts non