## **St George’s Church, Campden Hill** 

## **Annual Report 2022** 




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## **St George’s Church, Campden Hill** 

## **ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **Administrative Information** 

St George’s Church is situated on Campden Hill, Kensington, in a United Benefice with St John the Baptist Church. It is part of the Church of England and is in the Diocese of London. The correspondence address is St George’s Parish Office, Aubrey Walk, London W8 7JG. The Parochial Church Council constitutes a charity; its registered charity number is 1131866. The PCC members who have served from May 2022 until the date this report was approved were: The Revd Dr James Heard Chair The Revd Neil Traynor Associate Priest The Revd Peter Wolton Associate Priest The Revd Dana English Associate Priest Clare Heard LLM & Deanery Synod Rep. Fiona Lindblom Churchwarden Guy Ranawake Churchwarden David Buckley Hon. Treasurer Sandra Hempel Hon. Secretary William James Synod Rep. Natasha Tahta Safeguarding, Deanery Synod Rep. Joy Puritz Janet Lloyd Richard Nicholls Tilly Culme-Seymour Liz Dawson 

## **Structure, governance and management** 

The Churchwardens are as set out in the Churchwardens Measure 2001 and are _ex officio_ members of the PCC. The PCC members are elected as set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll. 

## **Public benefit statement** 

The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’. 

## **Objectives and Activities** 

The PCC is responsible for co-operating with the Vicar in promoting within the ecclesiastical parish the whole mission of the Church: pastoral, evangelistic, social and ecumenical. The PCC also has maintenance responsibilities for St George’s Church, its vicarage and the surrounding land. 

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## **Worship and Sacramental Care** 

The Parish Eucharist is the principal act of worship offered by the parish. It is celebrated week by week in accordance with the apostles’ teaching and fellowship in the breaking of bread and prayer (Acts 2:42). The PCC is grateful to the sidespeople, readers and to all who contribute in many other ways to the life and worship offered to God by this parish. This year we conducted 15 baptisms, four funerals/memorials, and three weddings/blessings. 

## **Daily Prayer** 

We continue to meet daily for prayer on zoom – 9.15am Monday to Friday for **Morning Prayer** and 9.30pm for **Compline** on Tuesdays and Thursdays. The **meditation group** , faithfully led by Gill Rowe continues to meet every Monday at 6.00pm both at St George’s and on zoom. We have been encouraged by the significant increase in people for these services. 

## **Pastoral and social care** 

Pastoral and social care of the parish continues to be shared by the ministry team and several pastoral visitors. Pastoral care is also exercised through such activities as the lunch club. This team make regular ‘phone calls and visits in the parish. 

## **Safeguarding** 

Natasha Tahta is the designated safeguarding officer for St George's and Clare Heard is our children's champion.  Fr Peter is the lead DBS checker. The diocesan safeguarding dashboard is used and updated on a regular basis and we review safeguarding at every PCC meeting. 

## **Evangelisation** 

St George’s is committed to the Gospel imperative to ‘make disciples of all the nations; baptising them in the name of the Father and of the Son and of the Holy Spirit’ (Matthew 28:19), and to rising in future to the challenge of engagement in active evangelisation amongst all the peoples of the parish it serves. The Exploring Faith evenings continue with a variety of courses discovering together the richness of the Christian faith, welcoming others who are new to faith and also some non-churchgoers. 

## **Ecumenical links** 

As a modern catholic parish of the Church of England, St George’s Church honours the Lord’s High Priestly prayer that all Christians may be one as he and the Father are one (John 17:21), and seeks to foster its local relationship with Christians of the great communions of East and West in furtherance of the full and organic unity of the Church. To this end we play our part in the membership of the Kensington Council of Churches. 

## **Review of the year** 

The PCC met five times during the year. A revised electoral roll was drawn up in advance of this Annual Parochial Church Meeting. There are currently 166 people on the electoral roll. 

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## **Vicar’s Report – Fr James Heard** 

This year has been significant in various ways. Following the disruption of Covid, we have finally been able to resume unrestricted services, including the return of the ‘common cup’ at communion. And following a year of planning and getting permissions, the interior renovation of St George’s was completed just after Easter. The results have been excellent, particularly the resituated oak encased backlit stained glass, 


new LED lighting scheme, and new altar. The total cost was approximately £240,000 and I am extremely grateful to those who have given so generously. In October, we had a service of dedication and blessing with Bishop Michael Colclough presiding and preaching, joined by the Mayor of Kensington and Chelsea, and the newly formed choir, Aubrey Singers, who now rehearse at St George’s. 

We continue to follow through our **2022-2025 Mission Action Plan** , focussing on four particular areas: growing in spiritual depth; growing in service; growing younger and growing in resources. I am delighted to report that both churches have been awarded Bronze EcoChurch status. This year also saw a significant rise in the number of baptisms, 15 in total, following almost none for two years. 


Two **Exploring Faith** courses were held in 2022. Our Lent course introduced different types of prayer: drawing inspiration from the Quakers, Mindfulness, praying the rosary, and ‘waiting on God’ in small groups. The Autumn course was entitled ‘And all shall be well’: Women of faith through the ages. It began with an excellent talk by Tom Stacey, ‘Living in an Age of Spiritual Lacuna’. We were therefore shocked to hear the news of Tom passing just before Christmas. We also said farewell to other loved brothers 

and sisters in our community, including Mick May, Lois St Pierre, Maggie Neale, Robert Compton-Jones, Bunny Priestley, St George’s architect, Roderick Maclennan. We also arranged services in both churches following the death of her late majesty, Queen Elizabeth II. We give thanks for her unwavering sense of duty, steadfast loyalty and service not only to her country, but also to God. 

St John’s continues to flourish, with Neil, Jill and Harriet moving into the flat next door. This has provided much needed stability for them as a family. As a result of Neil’s ministry, we have seen St John’s increasingly used for rehearsals and concerts, not to mention over 20,000 people visiting the Gaia installation (see Neil’s report). 

I am in my third, of five years, as Area Dean of Kensington, which continues to bring additional responsibilities (and work!). I am therefore, as always, appreciative my colleagues, churchwardens and PCCs for their support. 

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We welcomed to our team Daniella Fetuga- Joensuu, who is studying at St Mellitus and on placement with us, during her training to become a priest. 

The Parish Office saw some changes, with Victoria O’Neill starting a new job as the Archdeacon’s PA, but continuing to work several hours a week to help with our finances. We welcomed Daniel Gable as our new Office Administrator. 




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## **Churchwardens’ Report** 

_by Guy Ranawake and Fiona Lindblom_ 

The Year 2022 saw the continuing return to normality out of the COVID-19 pandemic both at home and abroad, including within our own United Benefice. 



The ministry team led by Fr James and supported by the Revd Neil, Fr Peter and Revd Dana, was on the front foot in bringing back the Eucharist in two kinds (as well as refreshments), offering a comprehensive and fulfilling range of services and courses, including the Exploring Faith Course (Women of Faith through the Ages), the Lenten talks, the Bible Study group, the Young Adults group, the excellent Launde Abbey retreat as well as the relaunch of the Lunch Club. 

The PCC (consisting of the clergy, churchwardens and representatives of the laity) met five times since the last APCM held in May 2022, while the Joint Churchwardens (Standing Committee) meetings have taken place as required. During the year, we were very sad to see the departure of Bill James as Churchwarden after completing his term of office. Bill served the post with the greatest attention and his contribution, particularly looking after Barlow House, and taking an active role in our ministry amongst children and youth, has been much appreciated. 

However, we were more than delighted to welcome the arrival of Fiona Lindblom as a new Churchwarden to support Guy Ranawake who remains in office. Fiona and her family have lived in Kensington for the past thirty years and have been members of the congregation at St George’s since 2016. She became a member of the PCC in 2021. 

Churchwardens perform a number of different duties, including (i) representing the laity with the support of the PCC, (ii) co-operating with the ministry team, (iii) maintaining order and peace in the church and the churchyard in particular during services, and (iv) being legally responsible for all the property and movable goods belonging to the parish church. 

Of these four tasks, the last has been most resource-consuming in 2022 as it was in 2021. In October, we were finally able to celebrate the completion of the refurbishment of St George’s, the largest building work project for over 25 years, by rededicating the church in the presence of the former Bishop of Kensington, Michael Colclough. 

As a reminder, the refurbishment work included: 

- Repainting of the interior, including a new decorative scheme for the chancel ceiling; 

- Reducing our carbon footprint with a new LED lighting scheme in the church and community space; 

- Re-ordering of the transept chapel for smaller weekday worship, to include a new altar, credence table, and the reinstallation of three stained glass windows currently in storage. 

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The Development Appeal raised ca. £220,000 of the total cost of the development of £258,264 (including VAT), with the balance funded by our reserves, driven by the excellent fund-raising campaign led by Fr James and supported in particular by Jenny Davenport, Marina Abel Smith, David Buckley and Janet Lloyd.  We were also able to claim back VAT through the Listed Places of Worship Grant Scheme.  Once again, the Churchwardens would like to thank all those who have donated to the Development Appeal to make the refurbishment programme possible. 

## **Barlow House Update** 

As many of you know, St George’s has for some years owned a three bedroom flat at Barlow House in North Kensington. It is let through Notting Hill Genesis (formerly The Notting Hill Housing Trust) to families that are socially disadvantaged. 

The church has owned this property for about 16 years. A comprehensive round of improvements was made at a cost of ca £6,000 when the flat became free in January 2022. Among other things we addressed a long-standing damp problem, and ensured the flat is fully compliant with the new list of post Grenfell safety measures that NHG are implementing on all the properties they administer. Following the completion of the refurbishment, the flat was successfully let. 

## **Triennial Archdeacon’s Visitation** 

In March 2022, we had our triennial Archdeacon's visitation, which, thanks to Victoria's work in the Parish Office, we passed with flying colours! 

This visitation included a thorough review of church life, including checking the parochial registers and records held in the parish, the inventory and log book, the minutes and account books, insurance policies, the PCC’s policies on child protection, employees’ contracts, and insurance policies; reviewing progress on quinquennial works; inspecting the storage of valuables, security and safety systems, and to see the PCC’s Mission Action Plan. 

## **Thanks** 

We are very grateful to those members of the laity, including Janie Spring, Lou Jones, Anne Wright, Joanna and Nigel Allsop, and Bill James, who have volunteered to act as sidesmen via the rota system to assist the Churchwardens with maintaining order and peace in the church and churchyard. In addition, we would like to thank Lou Jones (readings), Janet Lloyd (intercessions), and Joanna and Nigel Allsop (refreshments) for stepping in to manage the rota for the various other elements of the Sunday service. 

Finally, the church garden continues to be much admired not only by our community but by local residents and many other visitors all year round. This is entirely down to the tireless work and dedication of Graham Franklin to whom we as ever extend our deepest thanks. 

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## **Assistant Priest’s Annual Report** 

## **Revd Neil Traynor** 

St John’s has continued to grow in new and unexpected ways, with significant growth in our congregation, and a wide range of arts and music events. It’s good to see so many congregation members feeling at home in both churches, and this is bolstered by our joint events. 


On a personal note, I’m very grateful to all those who have supported the Associate Vicar appeal, which has enabled the family to move to Holland Road. In turn, it’s enabled me to be on hand more in St John’s and that has resulted in more bookings. Thank you for your generous support. 

More about the last year at St John’s will be found in their Annual Report – it has been wonderfully varied and worthwhile. It’s a privilege to be part of the ministry team and joint Benefice of Holland Park. 

## **Fr Peter Wolton** 

2022 will be remembered, perhaps, as the year when life returned to normal after COVID, but also for the death of our beloved Queen, not many months after her Platinum Jubilee. The Queen’s Jubilee, with the service at St Paul’s Cathedral, and her funeral at Westminster Abbey, underlined the role of the Church of England in our national life. 


The Queen’s death resulted in Lambeth Palace calling for volunteers to provide chaplaincy services to what became known as ‘the Queue’. I joined the chaplaincy team and did two four-hour shifts on the Friday and Saturday, the first outside Westminster Hall and the second as the queue came up to Lambeth Bridge. 

From the encounters that I had, I found myself reflecting that the queue to venerate our late Queen was like pilgrims in earlier times travelling to be in the presence of a saint’s relics. Both the Pope and Archbishop of Westminster stressed the Queen’s steadfast witness of faith in Jesus Christ and her firm hope in his promises. One of the stages of canonisation handled by the Vatican is whether the candidate, who must be Roman Catholic, led a life of ‘heroic virtue’. Many considered this quality to be a hallmark of the life of Elizabeth II. It is a curious thought that if the Supreme Head of the Church of England had been a Roman Catholic, perhaps in time she would be considered for canonisation. 

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2022 normality meant a return to a full pattern of services and a 2022 programme of ‘Why me?’ addresses at St John’s. A huge thank to our speakers Peter Thomas, Mark Denza, Steph de Mel and Daniella Fetuga-Joensu. It is so exciting that Daniella has been accepted for ordination. 


The size of our Ministry team (James and Neil being assisted by two voluntary Self Supporting Ministers (Dana and me) and two voluntary Lay Readers (Clare and Lindsay) leads to us being asked to help at other churches, including those in ‘interregnum’ (between vicars). 

As well as taking services at other churches in the deanery, I officiated at weddings in Aldeburgh and at Chelsea Old Church. I find I am also asked to undertake services for people outside the parish, so 

I took funerals in Taunton and for a much-loved Chiswick restaurateur at Mortlake. 

The Church is developing new pathways to Ordination to the priesthood and in the summer, I was asked to become an Assistant Director of Ordinands for the Diocese of Kensington. This involves working with candidates during their discernment process and preparing the necessary paperwork ahead of them attending selection panels. 

Let me close with two things, a note of thanks and a note to ponder on. Thank you to James and Neil for your leadership and to our congregations who I find to be a source of constant encouragement. Second, the role of an SSM; it’s incredibly fulfilling. Bishop Sarah of London herself originally was ordained as an SSM before becoming a full-time member of the clergy. She is keen that more people come forward to be SSMs. Perhaps some of our congregation might consider whether they too are being called to be SSMs. 

## **Revd Dana English** 

I continue to serve on the rota for preaching and presiding at both St George’s and St John’s, and to assist in the coverage of worship at other churches, as needed. I lead daily prayer every fourth week, as well, and enjoy these opportunities for engaging with all in the parish. I visit various parishioners on a regular basis in conjunction with the rest of the clergy team. Other opportunities I have been privileged to have for sharing in the life of the congregation follow: 


**The Weekly Bible Study** Every Wednesday at 1:30pm I lead a group of between 10-14 persons who gather on Zoom to continue our study of the Old Testament. Having begun this systematic study two years ago, we ended the year with the prophets Obadiah and Jonah; we will resume with the remaining books of the minor prophets and then plunge into the Apocryphal books of the Bible. The group now includes persons from Germany and the U. S. as well as more locally; we have incorporated much art history into our study, illustrating the passages with this additional resource. 

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**The Young Adults’ Group** of the Benefice continues to meet every other Tuesday at 7:30pm for Bible study. We have continued to meet on Zoom, as the weekday evening time makes gathering in person difficult. With our discussions having covered almost all the books of the New Testament, we begin using Elaine Storkey’s well-reviewed book _Meeting God in Matthew_ to begin the New Year. The number of those involved in this group remains at about 8-10; as there are many younger adults attending services at both churches this group has filled a need for both fellowship and study. 


**Retreat Weekend, 25-27 November** This opportunity to lead a group away from the familiar landscape of London has become an annual tradition for the Benefice. Twenty of us spent the first weekend of Advent with the theme of _Preparing for Advent_ , in poetry, art, and music. We had the main house of Launde Abbey, as before, all to ourselves, with the front room for our presentations, looking out onto the hillside full of grazing sheep. Launde Abbey has come to expect us each year, with deluxe 

accommodation at a moderate price and excellent food. The weather was mild enough for the traditional long Saturday afternoon walk. We add compline on both Friday and Saturday nights to the regular schedule of services offered by the Abbey chaplain. This weekend has proven a wonderful opportunity to get to know one another better in a relaxed and beautiful setting. Our age range of participants has been 21-86. 

**The Enneagram Workshop** 6-8[th] May a workshop on the ancient practice of the Enneagram was given at St George’s by the Revd Gordon Melvin, a long-time hospital chaplain and presenter of the Enneagram. Eleven of us participated in this unique opportunity to learn more about ourselves and our personality types, exploring how this greater self-awareness, coupled with the practice of daily contemplation, could change responses we make to others. A follow-up session was also held on Sunday afternoon, 6th November, that all found helpful. We are grateful to Gordon for giving of his time in this way. 

**Exploring Faith Course** I gave a presentation in the series of women in the history of the spirituality of the church, _**Hildegard of Bingen**_ , on 9[th] November. A highlight of the evening was the ethereal singing of some of Hildegard’s compositions by Susanna Hill, former Trinity College Choir member, who sang amid the candlelight, unaccompanied. 

**Initiative to Provide Housing for a Syrian or Afghan Family** On 17[th] May Theo Yardley, who had been part of a successful resettlement program in West Hampstead, came to St George’s to speak about this possibility for our benefice. Ten of us gathered to hear in more detail how the programme worked. We decided to appeal to the larger community to join us in exploring the possibility in all its aspects. A flyer was prepared, and with a small group I distributed 1,000 flyers at the Notting Hill Gate Farmer’s Market and under the doors of every house in our parish. The initial appeal was to hold an organisational meeting together. We had exactly one response, so the decision was made that we could not continue with so small a base. 

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## **Children and Youth Ministries** 

## **Sunday Services** 

Children are welcomed at all our Sunday Services and a monthly All-Age service has been a highlight, with children participating in the readings, prayers and music. This year’s All-Age services included a Mothering Sunday service focussed on environmental issues, a Harvest Festival, and a Christmas Pageant with some excellent shepherds, sheep, angels, holy family 


and some wonderful music. Whilst St George’s is not offering a regular Sunday School, there is a stay and play area in the church, and colouring and other materials, based on the lectionary readings, are provided for the children each week. 

**Youth at St George’s Church** As well as being involved in All-Age Sunday services, our youth participate in the three-times-a-year schedule of events for the youth initiative called _Youth Ministry in Communion (YMIC)._ This initiative draws together secondary school age youth from across the Kensington area, to celebrate a more sacramental tradition, in the bringing together of new friends from the separate churches. Events have included a mixture of games, craft, and food. Highlights have included laser tag, inflatables (enjoyed by kids of all ages, even the ordained ones!) escape rooms, “the best burgers ever” and pizza making. Each session also included discussions on a topic, including hearing from refugees about their stories, and thinking about social media from a Christian perspective. Every YMIC evening ends with a service of some kind, some of which has been part led by the older youth. In addition, YMIC offers a trip to 


Taize for the older members of the group (year 10 and above), which was a huge success in 2022, which Rev Dana helped lead. We hope to be able to send some of our young people once they are old enough. 

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## **Deanery Synod Report** _by Sarah Tett_ 

As reported last year, meetings of the Synod followed the diocese’s **Vision 2030** themes, taking one broad theme at each meeting: 

- February’s meeting was held at St John’s, Notting Hill and addressed mental health and well-being under the **Compassionate Communities** theme. The Revd Will van Hart spoke on ‘What to do when you cannot do any less – strategies for the overcommitted’. The Revd Canon William Taylor introduced a motion petitioning the _London Diocesan Synod and General Synod to request the NCIs of the Church of England to work ecumenically with other churches to establish a national day of prayer and action for the persecuted Church_ . The motion was passed and sent on to the diocese for consideration at Diocesan Synod. 

- The Spring Common Fund meetings resumed, after Covid had disrupted the normal cycles, with a variety of in-person and zoom meetings offered. 

- In June Synod members were hosted for a summer garden party in the grounds of the St Mary Abbots Vicarage. 

- All Saints, Notting Hill held the September meeting of Synod at which Mirjam NgoyVerhage from the diocese introduced the **Confident Disciples** theme. Synod heard from several churches how they were engaging with the idea of a rule of life in accordance with their church tradition. 

- The last meeting of 2022 took place at St Philip’s, Earls Court Road. Alex Jueguen was introduced as the Kensington Deanery Safeguarding Coordinator. The theme of **Creative Growth** was discussed. The Synod heard from Chris Kennedy, leading a deanery BMO in sport and well-being at Activate, Bushey Park; Joe O’Sullivan, working on the estate at St Francis Dalgarno Way; and Andy Buckler from St Barnabas, Kensington, working with creators of music and art. 

As a further note, the motion on the persecuted church was debated at the July session of the Diocesan Synod and was passed unanimously. It is now with the business committee of General Synod. 



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## **Director of Music’s Report** _by Andrew Wells_ 

As ever, many thanks to all who contribute to the musical life at St George’s. The parish choir continues to flourish.  During Lent we sang a setting of the Lord’s Prayer to a Kiev melody. We also joined the choir at St John’s Ladbroke Grove for our joint Palm Sunday service. A beautiful Taizé service was held in Holy Week with singers and instrumentalists taking part. We were joined by the Aubrey Singers for our service of dedication of Church and Altar in October aided by Richard Nicholls who conducted an introit by Bruckner. 


Thanks to our youngsters for their musical contributions in the parish band (led by Jenny Thorn). They came to the fore in our Christmas Pageant directed by Clare Heard. We always welcome vocal and instrumental talent across the ages to join in supporting the worship.  We also thank David Buckley for playing in my absence. The organ has given us good service. A major wind leak has been corrected. 

To celebrate the Platinum Jubilee, our St George’s Festival Concert in May this year was entitled, ‘A Musical Tour around Kensington and Chelsea’ with popular works by Handel, Mendelssohn and Parry. We were pleased to welcome back the Holland Park School Choir under the direction of Jack May, and also our own Festival Chorus. 

We were pleased to continue to host at St George’s the Kensington and Chelsea Music Society concerts until their move back to Leighton House, and the Aubrey Singers who rehearse on Sunday evenings. We also had a violin and piano recital by François PineauBenois and Alexander Karpeyev dedicated to the memory of Her Majesty the Queen. Alexander Karpeyev plans to give another recital this coming February. 



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## **St George’s Church Luncheon Club** 

Last year Kit McAlister, Sara Yarwood and Mike Riggs, who had set up the luncheon club, with Ivo and Anne Morshead, handed over the reins. We owe them a huge debt of gratitude for doing such a brilliant job and helping with a smooth transition in 2022. The new team now consists of Sue Downs, Minh-Tam Janssens, Dana English, Jean Gustafsson and Joanna Allsop. 

We met on six occasions on the third Thursday of the month in the church community area for a delicious hot lunch, and once for our Annual Christmas Tea Party, which was attended by the Mayor of Kensington and Chelsea along with local councillors. The strong link established and maintained by Mary Spain with Holland Park School has continued. The students are so valuable in helping the elderly from cars and then acting as waiters at table. Their conversation during the meals with the guests, many of whom do not have contact with young people, is much appreciated. The attendance is between 40 and 50. We are most grateful to all who give their time and strength in setting up and taking down tables and chairs, chauffeuring guests and working in the kitchen. 



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## **Treasurer’s Report for the year ending 31st December 2022** 

## _by David Buckley_ 


## **Introduction** 

The accounts attached to this report show the income and expenditure of St George’s during the year together with a balance sheet as at 31st December 2022. GMAK Services Limited (Chartered Accountants) has carried out an independent review and its statement is set out on page 2 of the accounts. 

The income of the Church derives principally from generous voluntary giving, income from its investments, and the rental of its space. During the year, income from renting Church space recovered following the reduced levels experienced during Covid-19, voluntary giving increased during the same period, and investment income remained broadly constant with 2021 levels. 

During 2022 the Church completed a significant refurbishment project to the fabric of the building. The works included repainting the interior of the Church, the installation of stained-glass windows, new signage, a Vicars’ board, and upgraded lighting together with a new Altar for the Chapel. 

In addition to the refurbishment work, the United Benefice also launched a 3-year appeal in support of the cost of housing for our Associate Vicar, with both St George’s and St John the Baptist independently raising funds. As a result, the 2022 accounts reflect significant outflows of cash in relation to the refurbishment work, much of which was raised during 2021, an increase in fixed assets, together with monies received and subsequently paid out in support of the Associate Vicar appeal. 

As a result of this activity, the 2022 accounts show that the Church made a loss of £223,576 for the year as compared to a surplus of £210,858 in 2021. When consolidated over the two financial years that spanned the refurbishment work, the Church has made a combined loss of £12,718, with the shortfall being taken from cash reserves. 

The PCC is extremely appreciative of the very generous financial support it has received from members of the PCC, members of the congregation, the Church electoral role, friends, local residents, the Council and Church visitors. This generosity has enabled not only the success of the refurbishment work and the Associate Vicar appeal, but also the ongoing financial support of the day-to-day running of the Church. 

## **Income** 

Total income for the Church decreased marginally in 2022 from £376,463 in 2021 to £359,370 in 2021. These figures are somewhat misleading as they mask significant swings in the underlying income streams. Donations for the refurbishment work largely ended at the start of the year, while at the same time, donations were starting for the Associate Vicar fund. 

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Income generated from letting Church space increased during 2022 by 240% from £10,740 in 2021 to £25,673 in 2022, largely as a result of the ending of pandemic restrictions and increased activity. 

Investment income, which is derived principally from the Church’s investments in property (Barlow House), M&G Charifund (a conservatively managed fund for charities) and cash, reduced slightly during the year from £74,595 in 2021 to £70,882 in 2022. 

Volatility in financial markets triggered by the crisis in Ukraine at the start of the year, together with increasing inflation concerns in the UK reduced the value of the Charifund portfolio during the year by £19,374 to £328,464. The valuation of Barlow House was also reduced by £30,000 to £425,000 during the year. The Church did not sell any assets during the year and so it is important to note that no actual losses were realized. 

## **Expenditure** 

Total expenses for the Church increased during the year from £216,649 in 2021 to £533,572 in 2022, largely because of the expenditure on the refurbishment work. 

The Church continues to retain tight control over all other expense lines, and those showing increases during 2022 included Utilities (largely gas and electricity) and Music which includes repairs to the organ and a decision by the PCC to increase the music provision at the Church. Utility costs were kept to a minimum through careful use of the heating during the winter months. 

General Administrative costs increased from £13,542 in 2021 to £75,352 in 2022 because of the payout of funds received earlier in the year on behalf of the Associate Vicar appeal. 

Our Common Fund contribution, which is the amount that St George’s is required to pay the diocese to cover the salary and pensions of our clergy and the vicarage, together with a contribution to cover the costs of the clergy of other parishes who cannot afford to cover their own costs was reduced by the PCC in 2022 to £90,869 in 2022 from £96,089 in 2021. 

The joint PCC’s of both St George’s and St John the Baptist considered the total Common Fund contributions that were proposed across the Benefice as a whole and determined that whilst St George’s should continue to play its part in supporting other Churches in the Diocese who are less fortunate than ourselves, that we should do so at a reduced level during 2022. 

## **Reserves policy** 

St George’s holds in reserves a minimum of the equivalent of two months general running costs and an additional one month’s salary costs. It is also our policy to hold an amount for likely building works at the next quinquennial inspection. 

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**St George’s Campden Hill** Registered Charity number 1131866 office@hollandparkbenefice.org hollandparkbenefice.org 020 3602 9873 

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St George's Church, Campden Hill
Charity No. 1131866
Trustees, Report and Unaudited Accounts
31 December 2022

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The accounts attached to this report show the income
and expenditure of St George's during the year together
with a balance sheet as at 31st December 2022. GMAK
Services Limited (Chartered Accountant51 has carried out
an independent review and its Statement is set out on
page 2 of the accounts.
The income of the Church derives principally from generous voluntary giving, income from
its investments, and the rental of its space. During the year, income from renting Church
space recovered following the reduced levels experienced during Covid-19, voluntary giving
increased during the same period, and investment income remained broadly constant with
2021 levels,
During 2022 the Church completed a significant refurbishment project to the fabric of the
building. The works included repainting the interior of the Church, the installation of
stained-glass window5, new signage, a Vicars, board, and upgraded lighting together with a
new Altar for the Chapel.
In addition to the refurbishment work, the United Benefice also launched a 3-year appeal in
support of the cost of housing for our Associate Vicar, with both St George'5 and St John the
Baptist independently raising funds. As a result, the 2022 accounts reflect significant
outflows of cash in relation to the refurbishment work, much of which was raised during
2021, an increase in fixed assets, together with monies received and subsequently paid out
in support of the Associate Vicar appeal.
As a result of this activity, the 2022 accounts Show that the Church made a loss of £223,576
for the year as compared to a surplus of £210,858 in 2021. When consolidated over the two
financial years that spanned the refurbishment work, the Church has made a combined loss
of £12,718, with the shortfall being taken from cash reserves.
The PCC is extremely appreciative of the very generous financial support it has received
from members of the PCC, members of the congregation, the Church electoral role, friends,
local residents, the Council and Church visitors. This generosity has enabled not only the
success of the refurbishment work and the Associate Vicar appeal, but also the ongoing
financial support of the day-to-day running of the Church.
1ncnrnv
Total income for the Church decreased marginally in 2022 from £376,463 in 2021 to
£359,370 in 2021, These figures are somewhat misleading as they mask significant swings in
the underlying income streams. Donations for the refurbishment work largely ended at the
start of the year, while at the same time, donation£ were starting for the Associate Vicar
fund.

Income generated from letting Church space increased during 2022 by 2400/ from £10,740
in 2021 to £25,673 in 2022, largely as a result of the ending of pandemic restrictions and
increased activitv.
Investment income, which is derived principally from the Church's investments in propertv
(Barlow House), M&G Charifund la conservatively managed fund for charities) and cash,
reduced slightly during the year from £74,595 in 2021 to £70,882 in 2022.
Volatility in financial markets triggered by the crisis in Ukraine at the start of the year,
together with increasing inflation concerns in the UK reduced the value of the Charifund
portfolio during the year by £19,374 to £328,464. The valuation of Barlow House was also
reduced by £30,000 to £425,000 during the year. The Church did not sell any assets during
the year and so it is important to note that no actual losses were realized.
Expenditure
Total expenses for the Church increased during the year from £216,649 in 2021 to £533,572
in 2022, largely because of the expenditure on the refurbishment work.
The Church continues to retain tight control over all other expense lines, and those showing
increases during 2022 included Utilities {largely gas and electricity) and Music which
includes repairs to the organ and a decision by the PCC to increase the music provision at
the Church. Utility costs were kept to a minimum through careful use of the heating during
the winter months.
General Administrative costs increased from £13,542 in 2021 to £75,352 in 2022 because of
the payout of funds received earlier in the year on behalf of the Associate Vicar appeal.
Our Common Fund contribution, which is the amount that St George's is required to pav
the diocese to cover the salary and pensions of our clergy and the vicarage, together with a
contribution to cover the costs of the clergy of other parishes who cannot afford to cover
their own costs was reduced by the PCC in 2022 to £90,869 in 2022 from £96,089 in 2021.
The joint PCC'S of both St George's and St John the Baptist considered the total Common
Fund contributions that were proposed acr05S the Benefice as a whole and determined that
whilst St George's should continue to play its part in supporting other Churches in the
Diocese who are less fortunate than ourselves, that we should do so at a reduced level
during 2022.
Pie5erve.s policy
St George's holds in reserve5 a minimum of the equivalent of two months general running
costs and an additional one month's salary costs. It is also our policy to hold an amount for
likely bu
ng works at the next quinquennial inspection.
,GzJ

St George's Church, Campden Hill
Independent Examiner's report
Independant Examiner's report to the trustees of St George's Church. Campden Hill
I report lo the Iruslees on my examination of the financial slalemenls of Sl George's Church. Campden
Hill for the year ended 31 December 2022, which comprise the Statement of Financial A¢livilies, the
Balance Sheet and the related notes,.
Respective responsibilities of Trustees and Independent Examiner
As the charity's Trustees, you are responsible lor the preparation of the financial slalemenls in
accordance with the requirerllenls of the Charities Act 2011 I'lhe Acl'l. The Iruslees consider that an
audit is not required lor this year under of section 144121 of the Charities Act 2011 Ilhe Acll and that an
independent examination is needed. 11 is my responsibility lo slate, on the basis of procedures specified
in the General Directions given by the Charity Comfnissioners under section 14515llbl of the 2011 Act,
whether particular mallers have come lo my allenlion.
Independent examiner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145
of the 2011 Act. I confirm th3t l am qualified to undertake the examination by b@ing 3 qualified member ol the
ICAEW. My examination was carried out in accordance with the General Directions given by the Charity
Commission. An examination includes a review Df the accounting records kept by the charity and a
comp2rison of the accounts presented with those records. 11 also includes consideration o12ny Ljnusual
items or disclosures in the accounts, anrl seeking explanations from you as Iruslees concerning any such
mallers. The procedures undertaken do not provide all the evidence that would be required in an audit,
alld consequently no opinion is given as lo whether the accounts present a 'lrue and lair, view. and the
report is limited lo those mallers sel out in the slalemenl below.
Independent Examiner's statement
I have completed my examination. I confirm that no material mallers have come lo my 8llenlion in
connection with the examination which givès me cause lo believe that in any material respect".
the accounting records were not kept in accordance with section 130 of the 2011 Act., or
the accounts did not accord with the accounting records.. or
the account5 did not comply with the applicable requirements concerning the form and conlenl
ol the accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other than
any requirement that the accounts give z 'lrue and fair view which is not a maller considered
as parl of an independent examination.
I have no concerns and have come across no other mallers in connection with the examination lo which
allenlion should be drawn in this repoil in order lo enable a proper understanding of the accounts to be
reached.
Angela Ktistakis ACA FCCA
GMAK Services Ltd
42 Crescent Lane,
London SW4 9PU
Dale..
i++
2&)2 3

St George's Church, Campden Hill
Statement of Financial Activitie5
for the year ended 31 December 2022
Unrestricted
funds
Restricted
funds Total funds Total funds
2022
2022
2021
2022
Note5
Income and endowments
from:
Donations and legacies
Other tiading activities
Investments
150,470
4,049
96,555
108,296
258,766
4,a49
96,555
260,450
4,850
85,335
25,828
Other
Total
251,074
108,296
359,370
376,463
Expenditure on..
Charitable activitie5
other
181,610
100,536
200,155
51,271
381,765
151,807
131,843
84,806
Total
282,146
251,426
533,572
216.649
Net Ilossesllgains o
inve5tmellts
149,3741
149,3741
51,044
Net lexpenditurellincome
Transfers between funds
180,4451
16,256
1143,1311
116,2561
1223,5761
210,858
Net lexpenditurel/income
before other gains/l1055esl
210,858
164,1891
1159,3871
1223,5761
Other gains and losses
Net movement in funds
164,1891
1159,3871
1223,5761
210,858
Reconciliation of funds=
Total funds brought forward
901,524
172,081
1,073,605
862,747
Total funds carrled forward
837,335
12,694
850,029
1,073,605
Page 2

St George's Church, Campden Hill
Balance Sheet
at 31 December 2022
Charity No. 1131866
2022
2021
Fixed assets
Tangible assets
Investments
li
23,631
753,464
777,095
9,000
802,837
811,837
12
Current assets
Debtors
Cash at bank and in hand
13
3,492
73,761
77,253
14,3191
72,934
4,419
260,505
264,924
13,1561
261,768
Creditors.. Amount falling due within one year
Net turrent assets
14
Total assets less current liabilities
850,029
1,073,605
Net assets ex¢ludlng pension asset or liability
850,029
1,073,605
Total net assets
850,029
1,073,605
The funds of the ¢haritv
Restricted funds
Restricted incorne funds
15
12,694
12,694
172.081
172,081
Unrestricted funds
15
General funds
210,961
626,374
275,150
626,374
Designated funds
837,335
901,524
Reserves
15
Total funds
850,029
1,073,605
Approved by the trLJStees on 14 May
And signed on their behalf by..
D. BUCKLEY
Trustee
14 May 2023
Page 3

St George's Churth, Campden Hill
Notes to the Accounts
for the year ended 31 December 2022
l Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice..
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic if Ireland IFRS 1021 issued on 16 July 2014 and the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the
Charities Act 2011.
Change in basis of accoLrnting or to previous account5
There has been no change to the accounting policie5 Ivaluatioll rules and method of accounting) since
last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustees for particular purposes.
These are unrestricted funds which include a revaluation reserve representing the
restatement of investment assets at their market values.
These are available for use subject to restrictions imposed by the donor or through
terms of an appeal.
Designated funds
Revaluation funds
Restricted funds
Income
Recognition of
income
Income is included in the Statement Df Financial Activities1SoFAI when the charity
becomes entitled to, and virtually certain to receive, the income and the amount of
the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure 15
expenditure
reported gross in the SOFA.
Donations a nd
legacies
Voluntary income received by way of grants, donations and gifts is included in the
the SOFA when receivable and only when the Charity has unconditional entitlement
to the income.
Income from tax reclaims is included in the SOFA at the same time as the
Tax reclaims on
donations and gift5 giftldonation to which it relates.
Donated Services
These are only included in income (with an equivalent amount in expenditure)
where the benefit to the Charity is reasonably quantifiable, measurable and
material.
and facilities
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment i ncome This is included in the accounts when receivable.
G3ins/llossesl on
This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed at the end of the year.
assets
Gains/llos5e51 on
investment a55ets
This includes any gain or loss on the sale of investments.
Page 4

St George's Church, Campden Hill
Notes to the Accounts
Expenditure
Recogniticin of
expenditure
Expenditure is recognised on an accruals ba515. Expenditure include5 any VAT which
cannot be fully recovered. and 15 reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs associated with attracting voluntary income, fundraising
raising funds
trading costs and investment management costs.
Expenditure on
These comprise the cost5 incurred by the Charity in the delivery of its activities and
charitable activities service5 in the furtherance of its objects. including the making of grant5 and
governance costs.
All grant expenditure is accounted for on an actual paid basi5 plus an accrual for
grants that have been approved by the trustee5 at the end of the yezr but not yet
paid.
These include those costs a5$0ciated with meeting the constitutional and statutorv
requirernents of the Charity, including any auditlindependent examination fees,
costs linked to the strategic management of the charity, together with 3 share of
other administration costs.
These are support cost5 not allocated to a p3rtiCLJlar activity.
Grants payable
Governance costs
Other expenditure
Going concern
At the time of approving the financial Statements the trustees have a reasonable expectation that the
charity has adequate resources to continue in operational existence for the foreseeable future.Therefore
the trustees continue to adopt the going concern basis in preparing the financial statements.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed asset5 and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
Useful life..
Fixtures and fittings
IO% Strai8ht line
Freehold Investment property
Investment propertie5 are measured initially at cost and subsequently at fair value at each balance Sheet
date and are not depreciated. All gain5 or losses are taken to the Statement of Financial Activities as they
arise.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prep21d net of any trade discounts due.
Cash and Cash equivalents
Cash and cash equivalent5 comprise cash at bank and on h3nd, demand deposits with banks and other
short-term highly liquid investments with original maturities of three months or less and bank overdrafts.
In the statement of financial position, bank overdrafts are shown within borrowing5 or current liabilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and form an integr31 part of the company'5 cash management,
Page S

St George's Churth, Campden Hill
Notes to the Atcounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised
where the charity has a present obligation rèsulting from a past event that will probably result in the
transfer ol funds to a third party and the arnount due to settle the obligation can be measured or
estimated reliably. Creditors and provisions are normally recognised at their settlement amount after
allowing for any trade discount5 due.
Pension costs
The charity operates a defined contribution plan for its employees, A defined contribution plan is a
pension plan under which the charity pays fixed contributions into a separate entity. Once the
contributions have been paid the charity has no further p3yment5 obligations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in 3¢cru3ls in the balance sheet.
The a55ets of the plan are held separately from the charity in independently administered funds.
2 Statement of Financial Activities - prlor year
Unrestricted
funds
Restricted
funds Total funds
2021
2021
2021
Income and endowments from:
Donations and legacies
Other trading activitie5
Investments
100,028
4.850
85,335
25,828
160,422
260,450
4,850
85,335
25,828
Other
Total
216,041
160,422
376,463
Expenditure on:
Charitable activities
131,184
84,807
659
131,843
84,807
Other
Total
215,991
659
216,650
Net gains on investments
51,044
51,044
Net Income
51,094
159,763
210,857
Net income before other
gainslllossesl
Other gains and losses..
Net movement in funds
51.094
159,763
210,857
51,094
159,763
210,857
Reconciliation of funds..
Total funds brought forward
Total funds carried forward
850,429
12,318
862,747
901,523
172,081
1,073,604
Page 6

St George's Church, Campden Hill
Notes to the Accounts
3 Income from donations and legacies
Unrestricted
Restricted
Total
Total
2022
2021
Regular donations
Sundry donations
Salary contributic>n
Income tax recoverable
91,322
16.827
91,322
123,623
19,950
77,636
166.684
106,796
19,950
16,130
22,371
150,470
1,500
23,871
108,296
258.766
260,450
4 Income from other trading attSvltles
Unrestricted
Total
Total
2022
2021
Miscellaneou5 income
3,219
Events
4,049
4,049
4,049
1,631
4,049
4,850
5 Income frorn investments
Unrestrlcted
Total
Total
2022
2021
Investment income
39,878
39,878
31.004
38,539
36,056
10,740
Rent
31,004
25,673
96,555
Use of church
25,673
96,555
85,335
6 Other income
Total
Total
2022
2021
25,828
25,828
Page 7

St George's Church, Campden Hill
Notes to the Accounts
7 Expenditure on charitable activities
Unrestricted
Restricted
Total
Total
2022
2021
Expenditure on charitable
octivitie5
Ministry.. diocesan common
fund, clergy expenses and
accommodation, intern
Church running and
maintenance
Service515unday
school/event5. music and
flowers
90,869
90,869
96,089
61,531
200,155
261,686
15,106
21,060
21,060
12,798
Governance costs
Independent examination
Professional fee5
1,500
6,350
131,843
8.150
8,150
181,610
200,155
381,765
8 Other expenditure
Unrestricted
Restricted
Total
Total
2022
2021
Investment property 5ervi¢e
charges
Employee costs
Amortisation. depreciation,
impairment, prolit/loss on
disposal of fixed assets
General administrative costs
8.078
8,078
2,324
66,752
66,752
68,940
1,625
1,625
24,081
100,536
51,271
75,352
13,542
84,806
51,271
151,807
9 Net lexpenditurellincome before transfers
2022
2021
This is stated after charging..
Depreciation of owned fixed assets
10 Staff costs
1,625
2022
2021
Salarie5 and wages
Social security Costs
Pension costs
50,921
4,330
11,501
66,752
54,824
2,407
11,709
68,940
No employee received emoluments in excess of £60,000. None of the trustees or anyone connected with
them received any remuneration during the year. Two trustees claim sundry expenses in accordance with
the ChLJrch's expense policy.
Page S

St Geoige's Churth, Campden Hill
Notes to the Accounts
11 Tangible fixed assets
Fixtures and
Total
C05t or revaluation
At l January 2022
Additions
9,000
9,ODO
16,256
25,256
16,256
16,256
At 31 December 2022
Depreciation and
impairment
Depreciation charge for the
year
At 31 December 2022
9,000
1,625
1,625
1,625
1,625
Net book values
At 31 December 2022
At 31 December 2021
9,000
9,000
14,631
23,631
9,000
12 Investment5
Freehold
Investment
Other
investment5
Property
Listed
Total
Cost or revaluation
At I january 2022
Revaluation
455,000
130,0001
425,000
347,838
119,3741
328,464
802,838
149,3741
753,464
At 31 December 2022
Net book values
At 31 December 2022
At 31 December 2021
425,000
455,000
328.464
347,838
753,464
802,838
13 Debtors
2022
2021
Trade debtors
3,492
2,755
1,664
4,419
Other debtors
3,492
14 Creditors:
amounts falling due within one year
2022
2021
Trade creditors
Accruals
2,269
2,050
4,319
1,156
2,000
3,156
Page 9

St George's Church, Campden Holl
Notes to the At¢ounts
IS Movement in fund5
Incoming
resources
At31
Resources
Gross
(including
At l January
other
2022 gainsllossesl
December
expended
transfers
2022
Restricted funds..
Restricte(l income funds..
Christian Education
Flowers
3,165
655
3,165
900
245
Accommodation SJB
Lunch club
Donations for Specific
charities
Building Fund
Future Hope
1,000
2,359
50,271
3,830
151,2711
11,7701
4,419
292
400
692
164,492
118
50,149
3,401
1198,3851
116.2561
3,519
rotol
172,081
108,296
1251,4261
116,2561
12,694
Unrestricted funds..
General funds
275,150
201,700
1282,1461
16,256
210,961
Designated funds..
626,374
626,374
rotal
626,374
626,374
Total funds
1,073,605
309,996
1533,5721
850,029
Purposes and restrictions in relation to the funds..
Restricted funds..
Christian Education
Flowers
Accommodation SIB
Lunch club
Donation5 for specific
charities
Building Fund
Future Hope
16 Analy515 of net assets between funds
Unrestritted
funds
Restritted
funds
Total
Fixed assets
9,000
753,464
72,934
835,398
14,631
23,631
753,464
72,934
850,029
Investments
Net current assets
14,631
Page 10

St George's Church, Campden Hill
Note5 to the Accounts
17 Reconciliation of net debt
At31
At l January
2022
December
Cash flows
2022
Cash and cash equivalent5
260,505
260,505
1186,7441
1186,7441
73,761
73,761
Net debt
260,505
1186,7441
73,761
18 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating lease5 are a5 follows..
2022
Land and
buildings
2022
2021
2021
Land and
buildings
Other
Other
Operating leases with expiry date..
Pension commitments
2022
2021
The pension cost charge to the charity
amounted to:
11,501
11,709
Page 11

St George's Church, Campden Hill
Statement of Cash flows
for the year ended 31 December 2022
2022
2021
Cash flow5 from operating activities
Nèt lexpenditurellincome per Statement of Financial Activities
1223,5761
210,857
Adjustments for-
Depreciation of property, plant and equipment
Dividends, interest and rent5 from investments
Other gains11055es
Decrease in trade and other receivables
Increase in trade and other payables
1,625
196,5551
1111,1631
927
62
1,163
1,397
Net cash (used Inl/provided by operating activities
1316,4161
101,153
Cash flow5 from investing activities
Payment5 lor property, plant and equipment
Dividends, interest and rents from investments
116,2561
96,555
111,163
Net cash from Investing activitie5
80,299
111,163
Net cash from financing activities
Net Idecreasellincrease In cash and cash equivalents
1236,1171
212,316
Cash and cash equivalents at the beginning of the year
260.505
99,233
Cash and cash equivalents at the end of the year
24.388
311,549
Components of tash and ¢ash equivalents
Cash and bank balances
73,761
260,505
73,761
260,505
Page 12

St George's Church, Campden Hill
Detailed Statement of Financial Actlvitie5
for the year ended 31 December 2022
Unrestricte
Restricted
fund5
2022
d funds
Total funds
Total funds
2021
2022
2022
Income and endowments from:
Oonations and legacies
Regular donations
Sundry donation5
Salary colltribution
Income tax recoverable
91,322
16,827
19,950
22,371
150,470
91,322
123,623
19,950
23,871
258,766
77,636
166,684
16,130
106,796
1,500
108,296
260,450
Other trading activities
Miscellaneous income
Events
3,219
1,631
4,850
4,049
4,049
4,049
4,049
Investment5
Inve5tmeNt income
39,878
31,004
25,673
96,555
39,878
3 1,004
25,673
96,555
38,539
36,056
10,740
85,335
Rent
Use of church
Other
25,828
25,828
Total income and endowments
251,074
108,296
359,370
376,463
Expenditure on=
Charitable activities
Ministry.. dioces3n common fund,
clergy expen5e5 and
accommodation, intern
Church running and maintenance
Services/sunday schoollevents,
music and flowers
90.869
90,869
96,089
61,531
200,155
261,686
15,106
21,060
12,798
21,060
173,460
200,155
373,615
123,993
Governance cost5
Independent examination
Professional lees
1,500
6,350
7,850
8,150
8,150
8,150
8,150
Total of expenditure on charitable
activities
181.610
200,155
381,765
131,843
Other expenditure
Investment property service
charges
8,078
8,078
2,324
8,078
8,078
2,324
Page 13

St George's Church, Campden Hill
Detailed Statement of Financial Activities
Employee costs
Salaries/w3ges
Employer'5 N IC
Pension costg
50,921
4,330
11,501
66,752
50,921
4,330
11,501
66,752
54,824
2,407
11,709
68.940
General administrative costs,
including depreciation and
amortisation
Depreciation of Fixtures and
fittings
Bad debts
Bank charges
General insurances
Stationery 2nd printing
Sundry expen5e5
Telephone, fax and broadband
1,625
1,625
3,610
547
686
686
4,382
3.766
14,176
1,071
25,706
100,536
4,382
3,766
65,447
1,071
76,977
151,807
4,373
2,608
1,324
1,080
13,542
84,806
51,271
51,271
51,271
Total of expenditure of other costs
Total expenditure
282,146
251,426
533,572
216,649
Net gain5 on investments
149,3741
149,3741
51,044
Net lexpenditurel/income
Transfers between fulld5
180,4451
1143,1311
1223,5761
210.858
16.256
116,2561
Net leMpenditurel/income before
other galns/llosse51
Other Gains
164,1891
1159,3871
1223,5761
210,858
Net movement in funds
164,1891
1159,3871
1223,5761
210,858
Reconciliation of fund5'.
Total funds brought forward
901,524
172,081
1,073,605
862,747
Total funds carried fO￿ard
837.335
12,694
850,029
1,073,605
Page 14

St George's Church, Campden Hill
Charity No. 1131866
Trustees, Report and Unaudited Accounts
31 December 2022

IreGlJfLirer' s RLport for the i/L?ai' PJI clirig 3 LJt nec..iiil.Trpr ?022
The accounts attached to this report show the income
and expenditure of St George's during the year together
with a balance sheet as at 31st December 2022. GMAK
Services Limited (Chartered Accountant51 has carried out
an independent review and its Statement is set out on
page 2 of the accounts.
The income of the Church derives principally from generous voluntary giving, income from
its investments, and the rental of its space. During the year, income from renting Church
space recovered following the reduced levels experienced during Covid-19, voluntary giving
increased during the same period, and investment income remained broadly constant with
2021 levels,
During 2022 the Church completed a significant refurbishment project to the fabric of the
building. The works included repainting the interior of the Church, the installation of
stained-glass window5, new signage, a Vicars, board, and upgraded lighting together with a
new Altar for the Chapel.
In addition to the refurbishment work, the United Benefice also launched a 3-year appeal in
support of the cost of housing for our Associate Vicar, with both St George'5 and St John the
Baptist independently raising funds. As a result, the 2022 accounts reflect significant
outflows of cash in relation to the refurbishment work, much of which was raised during
2021, an increase in fixed assets, together with monies received and subsequently paid out
in support of the Associate Vicar appeal.
As a result of this activity, the 2022 accounts Show that the Church made a loss of £223,576
for the year as compared to a surplus of £210,858 in 2021. When consolidated over the two
financial years that spanned the refurbishment work, the Church has made a combined loss
of £12,718, with the shortfall being taken from cash reserves.
The PCC is extremely appreciative of the very generous financial support it has received
from members of the PCC, members of the congregation, the Church electoral role, friends,
local residents, the Council and Church visitors. This generosity has enabled not only the
success of the refurbishment work and the Associate Vicar appeal, but also the ongoing
financial support of the day-to-day running of the Church.
1ncnrnv
Total income for the Church decreased marginally in 2022 from £376,463 in 2021 to
£359,370 in 2021, These figures are somewhat misleading as they mask significant swings in
the underlying income streams. Donations for the refurbishment work largely ended at the
start of the year, while at the same time, donation£ were starting for the Associate Vicar
fund.

Income generated from letting Church space increased during 2022 by 2400/ from £10,740
in 2021 to £25,673 in 2022, largely as a result of the ending of pandemic restrictions and
increased activitv.
Investment income, which is derived principally from the Church's investments in propertv
(Barlow House), M&G Charifund la conservatively managed fund for charities) and cash,
reduced slightly during the year from £74,595 in 2021 to £70,882 in 2022.
Volatility in financial markets triggered by the crisis in Ukraine at the start of the year,
together with increasing inflation concerns in the UK reduced the value of the Charifund
portfolio during the year by £19,374 to £328,464. The valuation of Barlow House was also
reduced by £30,000 to £425,000 during the year. The Church did not sell any assets during
the year and so it is important to note that no actual losses were realized.
Expenditure
Total expenses for the Church increased during the year from £216,649 in 2021 to £533,572
in 2022, largely because of the expenditure on the refurbishment work.
The Church continues to retain tight control over all other expense lines, and those showing
increases during 2022 included Utilities {largely gas and electricity) and Music which
includes repairs to the organ and a decision by the PCC to increase the music provision at
the Church. Utility costs were kept to a minimum through careful use of the heating during
the winter months.
General Administrative costs increased from £13,542 in 2021 to £75,352 in 2022 because of
the payout of funds received earlier in the year on behalf of the Associate Vicar appeal.
Our Common Fund contribution, which is the amount that St George's is required to pav
the diocese to cover the salary and pensions of our clergy and the vicarage, together with a
contribution to cover the costs of the clergy of other parishes who cannot afford to cover
their own costs was reduced by the PCC in 2022 to £90,869 in 2022 from £96,089 in 2021.
The joint PCC'S of both St George's and St John the Baptist considered the total Common
Fund contributions that were proposed acr05S the Benefice as a whole and determined that
whilst St George's should continue to play its part in supporting other Churches in the
Diocese who are less fortunate than ourselves, that we should do so at a reduced level
during 2022.
Pie5erve.s policy
St George's holds in reserve5 a minimum of the equivalent of two months general running
costs and an additional one month's salary costs. It is also our policy to hold an amount for
likely bu
ng works at the next quinquennial inspection.
,GzJ

St George's Church, Campden Hill
Independent Examiner's report
Independant Examiner's report to the trustees of St George's Church. Campden Hill
I report lo the Iruslees on my examination of the financial slalemenls of Sl George's Church. Campden
Hill for the year ended 31 December 2022, which comprise the Statement of Financial A¢livilies, the
Balance Sheet and the related notes,.
Respective responsibilities of Trustees and Independent Examiner
As the charity's Trustees, you are responsible lor the preparation of the financial slalemenls in
accordance with the requirerllenls of the Charities Act 2011 I'lhe Acl'l. The Iruslees consider that an
audit is not required lor this year under of section 144121 of the Charities Act 2011 Ilhe Acll and that an
independent examination is needed. 11 is my responsibility lo slate, on the basis of procedures specified
in the General Directions given by the Charity Comfnissioners under section 14515llbl of the 2011 Act,
whether particular mallers have come lo my allenlion.
Independent examiner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145
of the 2011 Act. I confirm th3t l am qualified to undertake the examination by b@ing 3 qualified member ol the
ICAEW. My examination was carried out in accordance with the General Directions given by the Charity
Commission. An examination includes a review Df the accounting records kept by the charity and a
comp2rison of the accounts presented with those records. 11 also includes consideration o12ny Ljnusual
items or disclosures in the accounts, anrl seeking explanations from you as Iruslees concerning any such
mallers. The procedures undertaken do not provide all the evidence that would be required in an audit,
alld consequently no opinion is given as lo whether the accounts present a 'lrue and lair, view. and the
report is limited lo those mallers sel out in the slalemenl below.
Independent Examiner's statement
I have completed my examination. I confirm that no material mallers have come lo my 8llenlion in
connection with the examination which givès me cause lo believe that in any material respect".
the accounting records were not kept in accordance with section 130 of the 2011 Act., or
the accounts did not accord with the accounting records.. or
the account5 did not comply with the applicable requirements concerning the form and conlenl
ol the accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other than
any requirement that the accounts give z 'lrue and fair view which is not a maller considered
as parl of an independent examination.
I have no concerns and have come across no other mallers in connection with the examination lo which
allenlion should be drawn in this repoil in order lo enable a proper understanding of the accounts to be
reached.
Angela Ktistakis ACA FCCA
GMAK Services Ltd
42 Crescent Lane,
London SW4 9PU
Dale..
i++
2&)2 3

St George's Church, Campden Hill
Statement of Financial Activitie5
for the year ended 31 December 2022
Unrestricted
funds
Restricted
funds Total funds Total funds
2022
2022
2021
2022
Note5
Income and endowments
from:
Donations and legacies
Other tiading activities
Investments
150,470
4,049
96,555
108,296
258,766
4,a49
96,555
260,450
4,850
85,335
25,828
Other
Total
251,074
108,296
359,370
376,463
Expenditure on..
Charitable activitie5
other
181,610
100,536
200,155
51,271
381,765
151,807
131,843
84,806
Total
282,146
251,426
533,572
216.649
Net Ilossesllgains o
inve5tmellts
149,3741
149,3741
51,044
Net lexpenditurellincome
Transfers between funds
180,4451
16,256
1143,1311
116,2561
1223,5761
210,858
Net lexpenditurel/income
before other gains/l1055esl
210,858
164,1891
1159,3871
1223,5761
Other gains and losses
Net movement in funds
164,1891
1159,3871
1223,5761
210,858
Reconciliation of funds=
Total funds brought forward
901,524
172,081
1,073,605
862,747
Total funds carrled forward
837,335
12,694
850,029
1,073,605
Page 2

St George's Church, Campden Hill
Balance Sheet
at 31 December 2022
Charity No. 1131866
2022
2021
Fixed assets
Tangible assets
Investments
li
23,631
753,464
777,095
9,000
802,837
811,837
12
Current assets
Debtors
Cash at bank and in hand
13
3,492
73,761
77,253
14,3191
72,934
4,419
260,505
264,924
13,1561
261,768
Creditors.. Amount falling due within one year
Net turrent assets
14
Total assets less current liabilities
850,029
1,073,605
Net assets ex¢ludlng pension asset or liability
850,029
1,073,605
Total net assets
850,029
1,073,605
The funds of the ¢haritv
Restricted funds
Restricted incorne funds
15
12,694
12,694
172.081
172,081
Unrestricted funds
15
General funds
210,961
626,374
275,150
626,374
Designated funds
837,335
901,524
Reserves
15
Total funds
850,029
1,073,605
Approved by the trLJStees on 14 May
And signed on their behalf by..
D. BUCKLEY
Trustee
14 May 2023
Page 3

St George's Churth, Campden Hill
Notes to the Accounts
for the year ended 31 December 2022
l Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice..
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic if Ireland IFRS 1021 issued on 16 July 2014 and the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the
Charities Act 2011.
Change in basis of accoLrnting or to previous account5
There has been no change to the accounting policie5 Ivaluatioll rules and method of accounting) since
last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustees for particular purposes.
These are unrestricted funds which include a revaluation reserve representing the
restatement of investment assets at their market values.
These are available for use subject to restrictions imposed by the donor or through
terms of an appeal.
Designated funds
Revaluation funds
Restricted funds
Income
Recognition of
income
Income is included in the Statement Df Financial Activities1SoFAI when the charity
becomes entitled to, and virtually certain to receive, the income and the amount of
the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure 15
expenditure
reported gross in the SOFA.
Donations a nd
legacies
Voluntary income received by way of grants, donations and gifts is included in the
the SOFA when receivable and only when the Charity has unconditional entitlement
to the income.
Income from tax reclaims is included in the SOFA at the same time as the
Tax reclaims on
donations and gift5 giftldonation to which it relates.
Donated Services
These are only included in income (with an equivalent amount in expenditure)
where the benefit to the Charity is reasonably quantifiable, measurable and
material.
and facilities
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment i ncome This is included in the accounts when receivable.
G3ins/llossesl on
This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed at the end of the year.
assets
Gains/llos5e51 on
investment a55ets
This includes any gain or loss on the sale of investments.
Page 4

St George's Church, Campden Hill
Notes to the Accounts
Expenditure
Recogniticin of
expenditure
Expenditure is recognised on an accruals ba515. Expenditure include5 any VAT which
cannot be fully recovered. and 15 reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs associated with attracting voluntary income, fundraising
raising funds
trading costs and investment management costs.
Expenditure on
These comprise the cost5 incurred by the Charity in the delivery of its activities and
charitable activities service5 in the furtherance of its objects. including the making of grant5 and
governance costs.
All grant expenditure is accounted for on an actual paid basi5 plus an accrual for
grants that have been approved by the trustee5 at the end of the yezr but not yet
paid.
These include those costs a5$0ciated with meeting the constitutional and statutorv
requirernents of the Charity, including any auditlindependent examination fees,
costs linked to the strategic management of the charity, together with 3 share of
other administration costs.
These are support cost5 not allocated to a p3rtiCLJlar activity.
Grants payable
Governance costs
Other expenditure
Going concern
At the time of approving the financial Statements the trustees have a reasonable expectation that the
charity has adequate resources to continue in operational existence for the foreseeable future.Therefore
the trustees continue to adopt the going concern basis in preparing the financial statements.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed asset5 and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
Useful life..
Fixtures and fittings
IO% Strai8ht line
Freehold Investment property
Investment propertie5 are measured initially at cost and subsequently at fair value at each balance Sheet
date and are not depreciated. All gain5 or losses are taken to the Statement of Financial Activities as they
arise.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prep21d net of any trade discounts due.
Cash and Cash equivalents
Cash and cash equivalent5 comprise cash at bank and on h3nd, demand deposits with banks and other
short-term highly liquid investments with original maturities of three months or less and bank overdrafts.
In the statement of financial position, bank overdrafts are shown within borrowing5 or current liabilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and form an integr31 part of the company'5 cash management,
Page S

St George's Churth, Campden Hill
Notes to the Atcounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised
where the charity has a present obligation rèsulting from a past event that will probably result in the
transfer ol funds to a third party and the arnount due to settle the obligation can be measured or
estimated reliably. Creditors and provisions are normally recognised at their settlement amount after
allowing for any trade discount5 due.
Pension costs
The charity operates a defined contribution plan for its employees, A defined contribution plan is a
pension plan under which the charity pays fixed contributions into a separate entity. Once the
contributions have been paid the charity has no further p3yment5 obligations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in 3¢cru3ls in the balance sheet.
The a55ets of the plan are held separately from the charity in independently administered funds.
2 Statement of Financial Activities - prlor year
Unrestricted
funds
Restricted
funds Total funds
2021
2021
2021
Income and endowments from:
Donations and legacies
Other trading activitie5
Investments
100,028
4.850
85,335
25,828
160,422
260,450
4,850
85,335
25,828
Other
Total
216,041
160,422
376,463
Expenditure on:
Charitable activities
131,184
84,807
659
131,843
84,807
Other
Total
215,991
659
216,650
Net gains on investments
51,044
51,044
Net Income
51,094
159,763
210,857
Net income before other
gainslllossesl
Other gains and losses..
Net movement in funds
51.094
159,763
210,857
51,094
159,763
210,857
Reconciliation of funds..
Total funds brought forward
Total funds carried forward
850,429
12,318
862,747
901,523
172,081
1,073,604
Page 6

St George's Church, Campden Hill
Notes to the Accounts
3 Income from donations and legacies
Unrestricted
Restricted
Total
Total
2022
2021
Regular donations
Sundry donations
Salary contributic>n
Income tax recoverable
91,322
16.827
91,322
123,623
19,950
77,636
166.684
106,796
19,950
16,130
22,371
150,470
1,500
23,871
108,296
258.766
260,450
4 Income from other trading attSvltles
Unrestricted
Total
Total
2022
2021
Miscellaneou5 income
3,219
Events
4,049
4,049
4,049
1,631
4,049
4,850
5 Income frorn investments
Unrestrlcted
Total
Total
2022
2021
Investment income
39,878
39,878
31.004
38,539
36,056
10,740
Rent
31,004
25,673
96,555
Use of church
25,673
96,555
85,335
6 Other income
Total
Total
2022
2021
25,828
25,828
Page 7

St George's Church, Campden Hill
Notes to the Accounts
7 Expenditure on charitable activities
Unrestricted
Restricted
Total
Total
2022
2021
Expenditure on charitable
octivitie5
Ministry.. diocesan common
fund, clergy expenses and
accommodation, intern
Church running and
maintenance
Service515unday
school/event5. music and
flowers
90,869
90,869
96,089
61,531
200,155
261,686
15,106
21,060
21,060
12,798
Governance costs
Independent examination
Professional fee5
1,500
6,350
131,843
8.150
8,150
181,610
200,155
381,765
8 Other expenditure
Unrestricted
Restricted
Total
Total
2022
2021
Investment property 5ervi¢e
charges
Employee costs
Amortisation. depreciation,
impairment, prolit/loss on
disposal of fixed assets
General administrative costs
8.078
8,078
2,324
66,752
66,752
68,940
1,625
1,625
24,081
100,536
51,271
75,352
13,542
84,806
51,271
151,807
9 Net lexpenditurellincome before transfers
2022
2021
This is stated after charging..
Depreciation of owned fixed assets
10 Staff costs
1,625
2022
2021
Salarie5 and wages
Social security Costs
Pension costs
50,921
4,330
11,501
66,752
54,824
2,407
11,709
68,940
No employee received emoluments in excess of £60,000. None of the trustees or anyone connected with
them received any remuneration during the year. Two trustees claim sundry expenses in accordance with
the ChLJrch's expense policy.
Page S

St Geoige's Churth, Campden Hill
Notes to the Accounts
11 Tangible fixed assets
Fixtures and
Total
C05t or revaluation
At l January 2022
Additions
9,000
9,ODO
16,256
25,256
16,256
16,256
At 31 December 2022
Depreciation and
impairment
Depreciation charge for the
year
At 31 December 2022
9,000
1,625
1,625
1,625
1,625
Net book values
At 31 December 2022
At 31 December 2021
9,000
9,000
14,631
23,631
9,000
12 Investment5
Freehold
Investment
Other
investment5
Property
Listed
Total
Cost or revaluation
At I january 2022
Revaluation
455,000
130,0001
425,000
347,838
119,3741
328,464
802,838
149,3741
753,464
At 31 December 2022
Net book values
At 31 December 2022
At 31 December 2021
425,000
455,000
328.464
347,838
753,464
802,838
13 Debtors
2022
2021
Trade debtors
3,492
2,755
1,664
4,419
Other debtors
3,492
14 Creditors:
amounts falling due within one year
2022
2021
Trade creditors
Accruals
2,269
2,050
4,319
1,156
2,000
3,156
Page 9

St George's Church, Campden Holl
Notes to the At¢ounts
IS Movement in fund5
Incoming
resources
At31
Resources
Gross
(including
At l January
other
2022 gainsllossesl
December
expended
transfers
2022
Restricted funds..
Restricte(l income funds..
Christian Education
Flowers
3,165
655
3,165
900
245
Accommodation SJB
Lunch club
Donations for Specific
charities
Building Fund
Future Hope
1,000
2,359
50,271
3,830
151,2711
11,7701
4,419
292
400
692
164,492
118
50,149
3,401
1198,3851
116.2561
3,519
rotol
172,081
108,296
1251,4261
116,2561
12,694
Unrestricted funds..
General funds
275,150
201,700
1282,1461
16,256
210,961
Designated funds..
626,374
626,374
rotal
626,374
626,374
Total funds
1,073,605
309,996
1533,5721
850,029
Purposes and restrictions in relation to the funds..
Restricted funds..
Christian Education
Flowers
Accommodation SIB
Lunch club
Donation5 for specific
charities
Building Fund
Future Hope
16 Analy515 of net assets between funds
Unrestritted
funds
Restritted
funds
Total
Fixed assets
9,000
753,464
72,934
835,398
14,631
23,631
753,464
72,934
850,029
Investments
Net current assets
14,631
Page 10

St George's Church, Campden Hill
Note5 to the Accounts
17 Reconciliation of net debt
At31
At l January
2022
December
Cash flows
2022
Cash and cash equivalent5
260,505
260,505
1186,7441
1186,7441
73,761
73,761
Net debt
260,505
1186,7441
73,761
18 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating lease5 are a5 follows..
2022
Land and
buildings
2022
2021
2021
Land and
buildings
Other
Other
Operating leases with expiry date..
Pension commitments
2022
2021
The pension cost charge to the charity
amounted to:
11,501
11,709
Page 11

St George's Church, Campden Hill
Statement of Cash flows
for the year ended 31 December 2022
2022
2021
Cash flow5 from operating activities
Nèt lexpenditurellincome per Statement of Financial Activities
1223,5761
210,857
Adjustments for-
Depreciation of property, plant and equipment
Dividends, interest and rent5 from investments
Other gains11055es
Decrease in trade and other receivables
Increase in trade and other payables
1,625
196,5551
1111,1631
927
62
1,163
1,397
Net cash (used Inl/provided by operating activities
1316,4161
101,153
Cash flow5 from investing activities
Payment5 lor property, plant and equipment
Dividends, interest and rents from investments
116,2561
96,555
111,163
Net cash from Investing activitie5
80,299
111,163
Net cash from financing activities
Net Idecreasellincrease In cash and cash equivalents
1236,1171
212,316
Cash and cash equivalents at the beginning of the year
260.505
99,233
Cash and cash equivalents at the end of the year
24.388
311,549
Components of tash and ¢ash equivalents
Cash and bank balances
73,761
260,505
73,761
260,505
Page 12

St George's Church, Campden Hill
Detailed Statement of Financial Actlvitie5
for the year ended 31 December 2022
Unrestricte
Restricted
fund5
2022
d funds
Total funds
Total funds
2021
2022
2022
Income and endowments from:
Oonations and legacies
Regular donations
Sundry donation5
Salary colltribution
Income tax recoverable
91,322
16,827
19,950
22,371
150,470
91,322
123,623
19,950
23,871
258,766
77,636
166,684
16,130
106,796
1,500
108,296
260,450
Other trading activities
Miscellaneous income
Events
3,219
1,631
4,850
4,049
4,049
4,049
4,049
Investment5
Inve5tmeNt income
39,878
31,004
25,673
96,555
39,878
3 1,004
25,673
96,555
38,539
36,056
10,740
85,335
Rent
Use of church
Other
25,828
25,828
Total income and endowments
251,074
108,296
359,370
376,463
Expenditure on=
Charitable activities
Ministry.. dioces3n common fund,
clergy expen5e5 and
accommodation, intern
Church running and maintenance
Services/sunday schoollevents,
music and flowers
90.869
90,869
96,089
61,531
200,155
261,686
15,106
21,060
12,798
21,060
173,460
200,155
373,615
123,993
Governance cost5
Independent examination
Professional lees
1,500
6,350
7,850
8,150
8,150
8,150
8,150
Total of expenditure on charitable
activities
181.610
200,155
381,765
131,843
Other expenditure
Investment property service
charges
8,078
8,078
2,324
8,078
8,078
2,324
Page 13

St George's Church, Campden Hill
Detailed Statement of Financial Activities
Employee costs
Salaries/w3ges
Employer'5 N IC
Pension costg
50,921
4,330
11,501
66,752
50,921
4,330
11,501
66,752
54,824
2,407
11,709
68.940
General administrative costs,
including depreciation and
amortisation
Depreciation of Fixtures and
fittings
Bad debts
Bank charges
General insurances
Stationery 2nd printing
Sundry expen5e5
Telephone, fax and broadband
1,625
1,625
3,610
547
686
686
4,382
3.766
14,176
1,071
25,706
100,536
4,382
3,766
65,447
1,071
76,977
151,807
4,373
2,608
1,324
1,080
13,542
84,806
51,271
51,271
51,271
Total of expenditure of other costs
Total expenditure
282,146
251,426
533,572
216,649
Net gain5 on investments
149,3741
149,3741
51,044
Net lexpenditurel/income
Transfers between fulld5
180,4451
1143,1311
1223,5761
210.858
16.256
116,2561
Net leMpenditurel/income before
other galns/llosse51
Other Gains
164,1891
1159,3871
1223,5761
210,858
Net movement in funds
164,1891
1159,3871
1223,5761
210,858
Reconciliation of fund5'.
Total funds brought forward
901,524
172,081
1,073,605
862,747
Total funds carried fO￿ard
837.335
12,694
850,029
1,073,605
Page 14