St Mary Islington Annual Report 2023 ## Contents |Vicar’s Report|Pages 3 - 4| |---|---| |Our Year in Numbers|Pages 5 - 6| |St Mary’s Preschool|Page 7| |St Mary’s Playscheme|Page 8| |Engaging with Schools|Page 9| |Youth & Children’s Ministry|Page 10| |Worship and Music|Page 11| |St Mary’s Operations|Pages 12 - 13| |EcoChurch|Page 14| |Deanery Synod|Page 15| |Finances|Page 16| |Governance and Structure|Page 17| |Charity Details|Page 18| 2 ## Vicar’s Report In 2023 we launched our vision of Calling Islington Home. This vision is a bold reminder of our vocation as the people of God in this place, at this time. It is underpinned by our values of commitment, caring and being connected. As part of this, we refined our mission strategy. This takes our vision and values and allows us to make them a reality. The foundations on which all of these are built are those of prayer, being a good employer, care for creation and good safeguarding. We also completed the transition of services from Mary’s to St Mary’s in 2023. This was a strategic investment in our organisational structures to allow us as a church to plan for growth in discipleship, evangelism and social impact. I am grateful for those who invested a lot of time and prayer in this process - especially Helen Mylam and the rest of Mary’s trustees. I am also thankful for our dedicated and hardworking staff team who allow us to be a caring, connected and committed Church. The Heart of Islington project officially drew to a close in May of 2023. This project was a key strategic investment in our buildings and site and will allow them to be a tool for mission and ministry in our community for many years to come. It was made possible by generous gifts from congregation members, grants from various organisations especially Cloudesley, and the hard work of many people - in particular Anthea Nicholson. I am grateful for the investment of time and resources that allowed this project to be a success. 3 ## Vicar’s Report Highlights of the year included the St Mary’s Festival. This wonderful event celebrated its 10th anniversary and this year had a particular focus on care for creation. My thanks go to our outgoing Festival Director, Patty Kostkova, our Comms Lead, Imogen Erskine and all the wonderful volunteers who helped make it such a success. We have seen numbers grow at our regular Sunday services, especially the numbers of children and families. We welcomed over 1700 school children for school visits. We saw several thousand people join us for our Christmas and Easter services. We especially rejoiced as our wonderful curates, Rev. Josh and Rev. Freya were ordained as priests, along with 25 other deacons, here at St Mary’s in June 2023. I am grateful for all those who pray, serve and give to support the work of St Mary’s. St Mary’s has also been blessed by legacies that have been left to the church and this year received a gift from the estate of Kathleen Read, a longstanding and faithful member of St Mary’s. Legacy gifts allow us to continue to invest in growing the church and this legacy has already allowed us to advertise for a full time Children and Families Minister to work alongside Chloe, our Youth Minister. If you want to find out more about leaving a gift in your will to St Mary’s please email give@stmaryislington.org. We all have a part to play through serving, praying and generous giving, as together, we are calling Islington home. As we look ahead, we can be encouraged by what God is already doing and expectant about what God will do in the life of St Mary’s and of our community. Do continue to pray for St Mary’s as we seek to follow Jesus and become more like him. Rev. James Hughesdon Vicar 4 ## Our Year in Numbers **----- Start of picture text -----**
Visits from the Bishops of London
and Stepney
Nine
baptisms
**----- End of picture text -----**
One new mission strategy, logo and relaunched website 18,900 Facebook page reaches and 1,100 Instagram page reaches 6,700 Facebook page visits and 1,100 Instagram profile visits 653 Facebook followers and 940 Instagram followers One Priesting Service Four weddings and nine funerals 5 ## Our Year in Numbers **----- Start of picture text -----**
1000 bulbs planted
on Bulb Sunday
Two bouncy castles +
three face painters +
2000 visitors +
500 scones eaten =
one Family Fun Day
We hosted our
second annual light
party
The PCC met seven
times in 2023
100 midweek groups hosted at St Mary’s
312 bowls of hot soup and rolls served
1500 slices of cake made and eaten
3250 hot drinks served
**----- End of picture text -----**
6 ## Our Year in Numbers Over 1000 visitors to Christmas Fair 1676 attendances at Christmas services 1500 mince pies and festive drinks served At least fifteen items of coverage in local media 47 school visits with almost 1500 school children 198 on our electoral roll 129 different user groups hosted sessions across the site and we hosted 27 birthday parties One renovated courtyard garden and 22 freshly painted doors in our Neighbourhood Centre **147 services in church with 9765 attendances** 7 ## St Mary’s Preschool **St Mary’s Preschool:** The Preschool was transferred to St Mary Islington PCC on 1 April 2023 from SMICP. Six staff went through the legal transfer process (TUPE process) and two staff gained new permanent contracts. The Preschool Ofsted process was completed and registered with a certificate of approval from 9 June 2023. The Preschool Manager is now the nominated person for the childcare department. The Preschool was rated green following an audit by the Local Authority traffic light rating. Great improvements have been made to the courtyard of the Johnston Room with lots of wonderful comments so far from families and the children. The investment has greatly improved the outdoor area quality with a more friendly and welcoming environment. Preschool numbers have been at good levels for the summer and autumn terms. ||||||||**Safeguarding-**
**support and**
**referrals**|**Safeguarding-**
**support and**
**referrals**| |---|---|---|---|---|---|---|---|---| |**Summer (April to**
**July)**
**Number of**
**children on roll**
**Special**
**Educational Needs**
**Government**
**funded 15/30**
**hours**
**St Mary's full fee**
**paying families**
**Number of**
**vacancies**
**Safeguarding-**
**support and**
**referrals**
**Two year olds**
13
1
13
0
0
2
**Three year olds**
25
6
25
0
0
3
**Autumn**
**(September to**
**December)**
**Number of**
**children on roll**
**Special**
**Educational Needs**
**Government**
**funded 15/30**
**hours**
**St Mary's full fee**
**paying families**
**Number of**
**vacancies**
**Safeguarding-**
**support and**
**referrals**
**Two year olds**
19
3
16
3
1 P/T
1
**Three year olds**
14
5
14
0
5
2
**Spring (January to**
**April)**
**Number of**
**children on roll**
**Special**
**Educational Needs**
**Government**
**funded 15/30**
**hours**
**St Mary's full fee**
**paying families**
**Number of**
**vacancies**
**Safeguarding-**
**support and**
**referrals**
**Two year olds**
15
3
15
3
0
2
**Three year olds**
23
5
23
0
1
4|**Spring (January to**
**April)**|**Number of**
**children on roll**|**Special**
**Educational Needs**|**Government**
**funded 15/30**
**hours**|**St Mary's full fee**
**paying families**|**Number of**
**vacancies**|**Safeguarding-**
**support and**
**referrals**|| ||**Two year olds**|15|3|15|3|0|2|| ||**Three year olds**|23|5|23|0|1|4|| 8 ## St Mary’s Playscheme **St Mary’s Playscheme:** St Mary’s ran eight out of the nine weeks of holiday playscheme provision in 2023. For six of these weeks we received government funding for Holiday Activity and Food (HAF) provision for children aged six to 12 years. The HAF provision fed and supported a large number of children, giving families extra food with support from the Felix Project food banks. There were more children with special educational needs (SEN) attending the playschemes than in past schemes. Islington Council visited the Easter and Summer HAF provision and commented favourably on the enrichment programme for the children. The children had an excellent choice of activities and a good range of exercise, with healthy options for food. The scheme looked and felt outstanding. Children we spoke to certainly agreed. ||Number of children
Special Educational|Number of children
Special Educational|Number of children
Special Educational|Number of children
Special Educational|Number of children
Special Educational|HAF (no. of children
Free vulnerable space|HAF (no. of children
Free vulnerable space|HAF (no. of children
Free vulnerable space|HAF (no. of children
Free vulnerable space| |---|---|---|---|---|---|---|---|---|---| |||||Needs||with free Gov code)
safeguarding|||| |February (five days)||22||5|||n/a|3|| ||April (nine days)|36||9|||29|1|| ||May (four days)|16||6|||n/a|3|| ||Summer holiday|43||10|||27|1|| ||(four weeks)||||||||| |October (five days)||12||2|||n/a|2|| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| ||||||||||| Sharon Ellis Childcare Services Manager 9 ## Engaging with Schools Over the past year our schools’ work has grown tremendously and we have been able to connect with over 1,700 students from different primary schools in Islington. This includes St Mary’s, Laycock, Hanover, William Tyndale, Ambler and Thornhill schools. Most school events take place at St Mary’s Church but we have hosted collective worship and assemblies at both St Mary’s and William Tyndale schools. We cover various topics as part of the R.E. curriculum which are chosen by the teachers. We, as a church team, plan the sessions with them. Topics and questions covered include: what do Christians believe about God; why do some people believe God exists; inspirational people of faith; church art and architecture; sacred Christian festivals and ornaments. We ran ‘experience Easter and Christmas’ sessions, led services of remembrance, led Christmas and Harvest services. We are delighted to be running the 7 by 7 programme with St Mary’s Primary School. This programme encourages us to work alongside the school and host sessions,visits, activities and talks that will keep pupils connected to the Christian faith. This programme is now being rolled out more widely by the London Diocesan Board of Schools. St Mary’s Preschool held their Easter, Harvest and Christmas services at St Mary’s. As a team we plan these services and invite the preschool parents to attend. This a great way for them to connect with the church. As a church team we are incredibly grateful for all the school connections we have made and hope to strengthen them over the coming years. These connections have allowed families from the local community to attend many of our services/events such as St Mary’s Festival Family Fun Day. The Light Party and Big Family Carols. 10 ## Youth & Children's Ministry We continued to see the number of young people who are part of St Mary’s grow in 2023. We regularly now need extra tables at the back of church on Sunday for children and young people and some Sundays have over 30 children and young people. In 2024 we hope to increase our Sunday provision for young people and children even further. St Mary’s Primary School held their first carol and Christmas services at St Mary’s. Parents were invited which lead to over 300 parents and children at both services. Our Family Fun Day, run as part of St Mary’s festival, was a great success in engaging young people in our community. Likewise the Light Party, which took place on Halloween, provided a safe and fun space for children and young people from our community. We have worked hard to develop a pathway for children and young people; from initial engagement to helping them being supported in exploring faith. This allowed us to encourage people to come along to our Big Family Carols and Children’s Christmas Eve service. This helped with an exceptional turnout at both services. We welcomed over 550 people across the two services, most of whom were new to the church or connected with us through local schools. St Mary’s Preschool held their Christmas service in the church. The turnout was great and we saw children aged two to four perform various Christmas songs. There was even a surprise visit from Santa. Oasis youth club continues to grow and flourish. New members have joined over the last year and we have supported young people as they have made the transition from our children’s ministry to our youth ministry. Visits to major attractions took place for young people and children and families throughout the year. Chloe Rotter Youth Minister 11 ## Worship and Music Our mission aim of being known for high quality music and worship has given us a good focus as we seek to grow this part of our life together. We welcomed Tom Jesty as our Music Director in March of 2023 and he has settled well into the role. The choir and band have gained new members and we have introduced new songs as we seek to keep our music fresh and varied. There was a wonderful evening of music and creative arts as part of this year’s St Mary’s Festival, and we look for the God-given creativity in our congregation and community to be released. The expanded choir did a wonderful job in preparing for and singing at our Carols by Candlelight services. These are our busiest services of the year and the choir did a fantastic job, offering a high quality programme of music and sung worship. We look forward to the monthly Friday concert series being launched in 2024. The St Mary’s junior choir was launched and have been such a blessing to our worshipping life. As well as singing at some of our Christmas services they will also sing at our Easter services. Well done to all the children and young people who have put so much effort into the Junior Choir. Our Sunday liturgy booklets were reviewed and refreshed and the new booklets will be used throughout 2024. It is particularly pleasing to have large print and braille copies available so that we can make our worship more accessible. Rev. Obi Chike joined our Sunday service leading and preaching teams and Sarah Fagg was officially licensed as a Licensed Lay Minister at St Mary’s. Thank you to all those involved in our Sunday worship, and for all the time and energy you give in enabling our worship to God. 12 ## St Mary’s Operations Over 2023 the Operations Team worked hard to develop a strong sense of cohesion between all teams at St Marys, as there was no unified operations team prior to this. With our growing confidence we have also put efforts into expanding our connections in the community with new relationships being formed with Islington Council, local support services, outdoor education charities and small, independent businesses. Primary examples of this include: working with New Horizons Youth Centre to provide them with facilities for sports sessions for disadvantaged homeless youth; The Forest Classroom sessions in the Church Gardens for St Mary's Primary school; cooking classes run by Islington Council in our Crypt Kitchen; and a renewed contact with Islington Police hosting monthly ward panel meetings. Alongside this, we have worked to improve our existing relationships with Mary’s, Islington Centre for Refugees and Migrants and the Claremont Project among others. Emphasis has also been placed on increasing the connectivity between operations teams in multiple churches across Islington with a broad aim of increasing stability through information sharing and networking. A good example of this is the work started with Reverend Trevor, at St Mark’s, to help demonstrate interest in a new facilities management software package tailored for churches in Islington. This will help ease the administrative burden on understaffed parishes and help improve the resilience of all parishes in Islington. The Islington Legal Advice centre continues to operate weekly from St Mary’s Crypt, providing a vital service to many in need and each week several anonymous groups for addiction meet at St Mary’s. Our Community Sports programme is working to provide physical and emotional wellbeing for groups from MenCap, Islington Centre for Migrants and Refugees and Claremont. This has allowed us to develop a work experience programme with MenCap, and each week three MenCap volunteers come to gain valuable work experience at St Mary’s. 13 ## St Mary’s Operations We have been working with the Ecochurch group to help demonstrate our caring for creation through projects to improve sustainability with a successful grant application to the Cloudesley charity to install secondary glazing in our Crypt. While these works will occur in 2024, they were approved and the grant was successful in 2023. We have dedicated ourselves to bettering our facilities, with works taking place on the preschool courtyard and Johnson room to demonstrate to our new Preschool staff and parents our commitment to them. This allows us to welcome in more groups from our community. There is also less obvious work we have been undertaking to improve efficiency and capacity through improved digital networks, new storage arrangements, higher levels of cleaning and upgraded system software. We are also dedicated to thinking differently about how we structure our team to get the best outcomes. As an example of this we have increased the cover of the reception in the evenings and weekends to provide more security on site and increase our contact with our client base. We also saw some positive trends across 2023 in bookings with a 21% increase in income on 2022 levels based on historical data. We are very positive going into 2024 that these trends will continue and we look forward to more projects in the future. Shane Thompson Operations and Enterprise Manager and St Mary’s Churchwardens 14 ## EcoChurch The principal aims of the EcoChurch scheme are to protect and encourage biodiversity, and to minimise energy use and waste in the buildings and land controlled by churches. In 2022 St Mary’s earned a silver award from A Rocha. In 2023, the St Mary’s EcoChurch steering group took stock on what would be needed to achieve gold status: it would need greater congregation involvement and for us to reach out more widely to the local community. The EcoChurch group reached out to the congregation and ran a lively book group in the Spring which discussed Greta Thunberg’s seminal Climate Book and, starting in September, a series of monthly film nights. The annual St Mary’s Festival coincided with Creationtide and featured an evening of poetry and music relating to creation, a panel debate on the Christian response to climate change with speakers from A Rocha and Tearfund, mid-week Franciscan prayers, and a Sunday morning Barnabas spot with the EcoChurch coordinator from St James Piccadilly, one of the few London churches to have received a gold award. 39 members of the congregation responded to a survey asking what changes people had made to their lifestyle in response to the climate crisis and what would support them in taking this further. All respondents had made some changes and many were contemplating changes that would be more difficult for them. Suggestions and comments for taking this further included regular news and tips. Most respondents said they would like to be part of the EcoChurch group. As for reaching out more widely to the local community, Sally Hull has continued to run a gardening group, open to all, which has met regularly throughout the year to maintain the rose garden. We have begun to make links with the Islington Environmental Alliance and with a few other local churches also working on the EcoChurch agenda. Richard Nicholson is a member of the recently revived Stepney Area Climate Action Group. We also hosted our first ‘Bulb Sunday’ in the autumn when we planted over 1000 spring bulbs in the church Gardens. To reach gold status involves scoring highly in all of the five categories assessed by A Rocha: worship and teaching; buildings; land; community and local engagement; and lifestyle. Buildings and lifestyle are the two areas in which we have the most still to do. 15 ## Deanery Synod Synod members are the clergy from Islington parishes, plus elected lay members of each church. Meetings allow churches to raise concerns in a wider forum and, if necessary, pass them to the diocesan synod. Information about central initiatives can also be passed down. Synod is responsible for appointing governors to CofE schools in Islington, and trustees to a couple of charities. The first meeting of the year, late April, was mainly about mission to young people and mission work on housing estates, partly because Islington is an area that has a low level of funding, per head of population, for such work. At the June meeting, synod heard about the work of Choices Islington, a compassionate and non-judgmental Christian response to unwanted pregnancy and abortion. Nearly half of all pregnancies are unintended; one woman in three has an abortion in her lifetime; and 33% of babies are born as the result of an unintended pregnancy. Choices offers Islington women support throughout their pregnancies, and runs The Boutique providing baby clothes and an equipment bank for new parents. It also provides support to pregnant women in three Surrey prisons. Most of the autumn meeting was a session about safeguarding, led by one of the ten Diocese of London safeguarding advisers. 16 ## Finances This year the PCC took control of many of the services which were run by Mary’s. With the addition of the lettings and pre-school activities that we are now responsible for we have almost doubled in size in terms of our income and expenditure. The generous giving of our congregation forms the backbone of our finances and that giving (excluding legacies and grants) has grown over the last year by 14.5%. In addition we have received a significant legacy from the estate of Kathleen Reed which the PCC intends to put toward growing the church and the kingdom of God in this place. Given the nature of the change in responsibilities budgeting this year was far from easy. We budgeted an unrestricted deficit of £65k for the year on our general reserves operations (excluding designated funds), acknowledging that the period following the transition would be a time of challenge, learning and development. In fact the deficit was £20k lower than budgeted - increased costs being offset by higher than expected revenue, particularly in Children’s services and donations. We maintain our three month reserve policy. The full financial report is available on request from the church office or by emailing imogen.erskine@stmaryislington.org 17 ## Governance and Structure Our Parochial Church Council Members 2023 The Revd James Hughesdon, chair The Revd Freya Bradley, Curate The Revd Josh Richards, Curate Churchwarden Mr Edward Adegbola Churchwarden Miss Rebecca Shilling Churchwarden Mrs Veronica Coulson Deanery Synod Lay Representative Dr Sophie Castell Deanery Synod Lay Representative Dr Richard Nicholson Deanery Synod Lay Representative Mr Babatunde Awonusi PCC Member (elected) Mr Nick Sykes, Vice Chair PCC Member (elected) Dr Sally Hull, Electoral Roll Officer PCC Member (co-opted) Ms Julia Abrey, Secretary PCC Member (elected) Mr David Vanden Bon, Treasurer PCC Member (elected) Dr Patty Kostkova PCC Member (elected) Mr Sam Hansford PCC Member (elected) Mrs Jennifer Obaseki PCC Member (co-opted) Mr Neville Walter A very large number of volunteers support the work of the church and it’s not possible to list all of their roles in this report. Among them, significant leadership responsibility is undertaken by the Licensed Lay Ministers, three Churchwardens, Sacristan, Treasurer, service leaders and preachers, preschool and Open House volunteers. 18 ## Governance and Structure Clergy Team 2023 The Revd James Hughesdon, Vicar The Revd Freya Bradley, Curate The Revd Josh Richards, Curate 19 **St Mary Islington telephone: 020 7226 3400 Upper Street email: hello@stmaryislington.org London www.stmaryislington.org N1 2TX** **Registered charity name: Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington Registered charity number: 1131900** 20 Charfty ftumber.. 1131900 Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington IA Parochlal Church Councll reglstered as a charfty. number. 1131900) Financial Statements for the year ended 31 December 2023 Parochial Church Counc51 of the Eccleslastlcal Parlsh of St Mary, Isllngton IA Parochlal Church Counell r•olstw•d a$ • ¢h•rity. numbor. 1131900} Independent Auditorfs Report to the Twstees of Parochlal Church Councll of the Ec¢leslastlcal Parlsh of St Ma Islln on We have audited the financial ststements of Pa￿la1 Church Council of the Ecclesiastical Parish of St Mary, Islington for the year gnded 31 December 2023 which comprise the Ststsment of Financial Actiwties. Statem&nt of Financial Postlon. Statemenl of Cash Flows and the Notes lo the Accounts to the Financial Staternents. tnduding a surnmary of signfficant 8¢xounting poliryes. The financial reporting framework that has been appl￿ in lh￿r preparation is applicable law and United King¢Jom AccA)unting Stsndards, Induding Financi81 Reporting Standard 102 Yhe Fin8nrJ81 Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generalty Accepted Acoyjnting Practice). Oplnlon on frnan¢lal stot•monts In our opinion the fin8nual stataments.. give a true and fair wew of the state of the ehartls affairs as at 31 DècÈmber 2023 aNJ of its incoming resources and application of re3ource5. induding its incorne and expenditu￿, lor the year then ended- have been properfy prepared in accordance with Unrte(l Kingdom Generalty Accepted Acc¢yJnting Practice.. and have been prepaTed in accordance ￿lIh the requiremenis of Ihe Charitses Acl 2011. B#xi• for oplnlon We conducted OUT audit in accordance ¥wth Intemational Stsndards on Auditi'ng IUKI IISAS IUKII and applicable18w. Our restxjnsibilities undèr tho$6 standards are further descrtbpd in th8 Audltors. responsibilrties for the audit of the financial statements section of our report. We are independent of the charity in accO￿ance *ryth the ethI￿Tr reqvirements Ihat are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Stsndard. and the promsions available for small entilies, in the circumstancos 5Ot OLrt in Note 2 to the finanoal slatements. and we have fvffilled our other èthical responsibilitiès in accordanc& wth these requirements. We believe th81 Ihe audit evidence we have obtwned is 5Lrffirient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the finanrAal statements. we have rThicbJded that the trustees. use of the going conwn basis of aCcoUn￿ng in the preparati￿ ofth6 finanoal statements is appro￿1819. Based on the wixk wg have performed. ￿ have not identified any material unwtainb.es relating to 8vents or conditions that, individually CK collecb'vely, may cast significant doubt on Ihe charitys aknlity to contsnue as a going cijncem for a period Of at loast twelve mc￿thS from wl)en the finantial statements are aUth￿Sed for issue. Our Y￿pOnsibl[{tIeS and tho responsibilit￿ d Ihe trustees %4ith r6spect to gosrMJ concem are descrsted in Ihe relevant section3 of thi8 rewt. Oth•r Infomiatlon The tnjstees are Tesponsibye for the other infornabon. The other informaiion comwse5 the infoThnati¢)n in the trysteg$' repixt. but does not include the financial statements and our Rel￿ of the Audrt￿$ thereon. Our opinion on Ihe finanual statements does not cover the other information and do not e¥press any form of assurance condiJsi<)n Ihereon. n connection our audit of the financial ststemgnts. our rssponsibilty is to read the other infomiation and. in doing so, consHler vthèther the other inf0m￿tIOn is Materially in0)n￿stent the finanaal ststements or OUT knovAedge obtsined in the audit or other￿Se 8ppe8r5 to be rnalerialty misststeJrt in resr4d of thtr follo*irtg rn8tt¢￿ thg Charitias (PL￿nts and Reports) RegUlat￿S 2008 require us to report to you rf, in our opinion.. adequate and proper acc4JiJnting recoTds have not been kept. or returns ad8qLtate for our audll have not been received from brdnehes not wsited by us", or the financial statements are not in ag￿ement wth the accrMJnling records and rglvms: cert8in disdosures of Tru5tees' rernuner8ty.on speufie(I by law are not made" ( we have not recetved all the inlonnaljon and explanatlons W￿ ￿qUIre lor our audlt.. or the Trustees were not entided to prepare the financial stateM￿ts in am)rd8nce with the sman companies regime and take advantage of the small companies. exemptions in preparing the Trustees repcfft and frorn (he requirement to PTepafe a strategic report. P•38 2 Parochial Church Council of the Ecclesiastical Parish of St Mary, Isllngton {A Parochial Chureh Council rngisternl as a ¢harfty, nurnber: 11319001 Indepondent Auditor's Report to the Trustees of Parochial Church Council of the Eccleslastlcal Parlsh of St Ma Islln ton ReSponslbll￿9 of Iyu8teg8 As explained more ftjlly in the ststement of trustees, responsibilrtjes set ¢JJt on ￿e 7, the twste8s arè r•sponsibSe for tke preparaty.on of the finanaal ststements and for bw'r4J satisfi&Y that tsy gNe a t￿ ar¥J fair wew. and for such internal control as the trust8as detèrmin8 necessary to enable the preparation of finanrial ststements that are free from rnaterial misstatemenL whether due to fraud or eThcK. In preparing the financial statements. the trustee5 are re5wn￿bIè for assessing Ihe charity's aknlity to ¢ontinue a5 a going Cl¥￿rn, disdosing, as applicable. rnatter5 related to g￿n9 toncem aThJ usiThJ the goirvJ COn￿M ba515 ofaccwnbffj vnlgss the trustees either intend to liquidate the chanty or to cease oFerab'on5. or have no reali5bc attematiwd bjt to do so. Our rgspoMlbllltl•s for th• audft oltho financlal 8tat•rnw Our obj8Ctivès aro to obtain reasonable assuran￿ at*xrt vthelher the finanoal statements as a whole a￿ f￿ frorn material rnisstatement, whether due to fra￿ or emr. and to issue an auditorfs report that indudes our opiniM. Reason8trAg assurancè 1$ hvjh level of assurance. but 1$ not 8 guarantee Ihat an aLhJrt coThJucted in ac¢)ydance with ISAS IUKI will a￿tsYS deteci a material rnisstatamant when it exists. Misstatwnents can arise fr(wn fraud orerror and ar• conswjered Material rf. iThYividually or in the aggregate, they couky reasonalJy be expeded to infiuenc* thè •ConoM￿ deosions of users tsken on Ihe basis of thèsè financial ststements. Irregulanties, induding fraud. are instan￿$ ol non-&￿pIl3ncÈ wlh la•*S and regulatior6. We design pl(•lu￿S in lina ￿t￿ our responsibilitss. oulin*J abowd, to datect matsn.al misstatements in ￿pect of irregulariliès. indLwJiNJ fraud. Th& extent to which Dur procadurns are capable ol ¢*te¢brMJ irwularities. indudirg fraud 15 ￿t￿. We identified the *al arK1 reguLatory framthrrts that are ap￿l￿b￿ to Ihe enbty and detem)Ined that the rnost significant are those that rèlate to the speofic busiress en¥ironrnent in ttry cpÈrat•. the reportsng rg]uirements they are oblvJed to adhe￿ to and other legal and rggulaw requirements aWKable to OFeratirMJ entitss in ganaral. Ihese include the Chanb'es Act 2011. FRS 102. th? Charitiès SORP, GDPR aThJ Com￿19 SUFPOrt srIw¢$1￿Isl9ti0n. Th& ch8ritaNe cornpany aperates aThJ ks not ￿nffjCanty impacied by intemalional law or ragulab"ons. Taxation law aThJ regulations ap￿ICab￿ to d￿nbeS akno appty lo tr* ¢hanty tmrt it i8 not invC￿j in any ￿MpleX mattorn that ne￿ase the T¢sk of non-c0rnp1ian￿. Each area of audrt review indudes in the a￿lIt dorJJnentslion referen￿ to kthntsal nOn-com￿lar￿ aTrJ awareness of potgniial non-complian￿ Ls embedded in our awjrt wOcedu￿. We as3e5sed the risk5 of matèrial misstatement in resreca offrathy by eV￿ulry of manag8ment, revivrt ofthe char￿3 ¢￿ratiOnS an¢J direct rewew of synfficant and matsrial trans*Dons. irtluding all non-standard or irregularjoumal 8dju$trnants. Our understanding of organisabon 8nabl&s us to un¢knland and Klenbfy transarb"on5 or ar•as that ¥y￿ar to present a risk of traud. None detactad. Our pre-audit quesbonnaire speryfically makes eThiuires ab￿1 fraud and this is suppryted by audit docurn8ntatson. Wè also rgview Board minutes to ident.fy any matters ol corKem or nsk None Wras Klenbfied. The audit W85 condUC￿d by a aL¥JitOf vkno has a good kncvl&Yge ofts no other assistsnca or support was requi￿. The charty is small, its aCti￿beS ar¢ rggul•r8ThI ¢onststsnt and ar8 Tr)t c>)myex and no special audrt cDnspJwab"ons appty, nor is extsrnal speriali5t a55￿￿ne• requir￿J. A frjrther de3cripts.on of our rèsponsi￿"1￿.es the audrt ofthe financaal statements 1$ kjcatsd on th8 Financaal Courvl'¥ bsrte at nsibiliti•s. This desrybon frmms part of our Repjrt ofthè Audrtors. U•• of our r•port This report ig rnade so￿ty to the charws InJstee5 as a tsxty. in ￿1th Part 4 oflhe Charities (Aciounts and repc*tsl R8gulabons 2008. Our audrt ha5 been undertaken $0 that * mKJht statè to the chantys tnjstees those rnaltgr5 ai8 required to stste to them in an auditor5 rwrt arKI for no oth•r purpc6e. To the hJl&t extent ￿Mi￿t•d by law, do not accept or assume responsibilty to nyc￿ otherthan th• chanty aThJ the chaws trLL8tees as a bcrfjy. fN our audit for this report, or for the cpinions we have f Arni$trong & Co. Statutory Audlior Acc untants & Statut 4a Prfntlng Hou8• Yard H•ckney Road London E2 7PR Datsd: 28 April 2024 Pa3e 3 Parochial Church Council of the Ecclesiastical Parish of St Mary. Isllngton IA Pafoehoal Church Council registered as a charity. number: 1131900) Statement of Financlal Actlvlties for the ear ended 31 December 2023 2023 Tot41 FundB 2022 Totsl Funds Fund• Incom• from.. Donations and legacias Church achMtie5 Generating funds Investments Other Incomè 1.107.778 2,799 462.029 6.470 31.245 1,111,684 2.799 462,029 8,470 31.245 207.168 6.020 136.317 1.970 35.463 Total In¢ornfj 1.610.321 1,614.227 386,938 Exp•ndhur• on: Raising fijnds Churth acts'*itie5 432.885 412.130 10,977 495.131 357.227 Totsl •xp8ndiwr• 790.112 54.903 845,01S $06,108 N•t lncomg119x￿D￿Itulvj and mov•m•nt In lunds 820.209 150,9971 769.212 1119.1701 TrnMl•rn l)•tw•en fund• 20 {3.C(KJl Net mov•m•nt In funds R•conclllatlon of funds- Total fij￿1$ brought I0￿[d 14 3.631.348 102,W 3,733.932 3,853.102 Total Iub)ds earrièd fon¥aryl 14 4A48,$57 4.501144 3,733.932 All incomirrfJ resourc8s aThJ rèsourcwd exreTrJed are derI￿d frorn conb"nuing 4c*wl*5. Thè acccynpanyiftg oc£ounbrrfJ WicAes and notès lomi an integral pwt ofthese financial statwnents. P•Je 4 Parochial Church Council of the Ecclesiastical Parlsh of St Mary. Islington IA Parochlal Church Councll reglst•red as • charfty. nuffll)er. 1131900) Statement of Financial Postion as at 31 Oecember 2023 31 D•c¢mbor 2023 31 D•¢ember 2022 Nol•s Flx•d assets: Tangible assets Totsl fixed as¥gts 11 3.251.581 3,252,465 Current assets.. Debtors Cash at bank and In hand Total current assets 12 78,857 1.262,714 27.879 488 527 Cradltors.. amounis lalllng du• wlthln on• ￿ar 13 ).008 34.939 Net curront assetsllllabllltte8) 1.251.563 481,467 Total net assets 4.503,144 3,733.932 Th• funds ot th• ch•rltr. Reslrictgd funds Unrestricted funds Revaluation ￿se￿8 18 16 S4.587 1,276,151 3,172,406 102,584 458,942 3.172,406 Total charlty fundB 21 4,503.144 3.733,932 The Ilnancjal Btstements were approved bythe Board ofTvust¢¢• on 2024 •nd $lgn•d on Its b•half by. ames es on The note5 oft pages 12 to 17 fomi part ofthese accounts. P8ge 5 Parochial Church Councll of the Ecclesiastical Parish of St Mary* Islington IA Parochlal Church Council TrgisteT•d as a charlty. numbor. 11319001 Statement of Cash Flows for the ar ended 31 December 2023 2023 2022 Cash flows ¥¢tlvhlu: Net cash provided byllused inl operaOng act"Mties 767,718 112.298 C8$h flows from Investlng act5v5tles: Dividends, interest and rents from investments Purchase of property, plant and equipment 6.470 1,970 12.6801 Net cash provld•d WIU￿￿ In) Imstlng actt¥llles Chang* In ¢•8h and ¢a$h equI￿lents In th• r•portlng p•rlod Cash and cash equfvalents at th• bèglnnlng of the reporting period Cash and cash •qul¥ahnts at th• •rtd of the feportlng perfod 774.188 1113,0081 488,526 1,262,714 601,534 488.526 Notestoth C hFJ ment 2023 2022 11 Rwin¢lllotlon of net Incorn•llexpendiiure} to •)et c￿h Ilow from operatSng advltles Net incomellexperHJrture) for the reportiry period las w the statement offinandal activltiesl 769,212 {119,1701 AdJuitm•nts for Depreclatlon chaiges Diwdends, interesl and rents from investrnents Ilncreaseydecrease in debtors IncreaselldecTeasel in creditors 215 11,9701 {8,1501 16,776 16,4701 150,9781 55.069 Not eo$h provlded bylluS￿ In) owraung actlvlU•s 112 298 2023 2022 2) Analysls of cash and cash wulv•l•nts C8sh in hand 1.262,714 488,526 Total ¢a$h and ¢ash •qulv•l•nts 1,262.714 488.526 Page 6 Parochial Church Council of the Ecclesiastical Parish of St Mary* Islington IA Parochlal Church Councll reglstered as a charfty. numbw. 11319001 Accountlng Pollcles for the gar ended 31 Docgmber 2023 8asis of preparatlon The finanual statements have been prepa￿d in accordance wiih.. al Applicable UK accounling Standard5, induding Financial Rewbng Stsndard 102 The Financial Repcwting standa￿ applicable in the UK and Republic of Ireland IFRS 1021.. b) Accounting and Reporbng by Charities.. Slaternent of Recommende(J Praclice appliG3ble to charibes preparing their accounts in accordanc8 with th• Financial Reporting Stsndaid applicable in the UK and Republic ol Ireland IFRS 1021 (effective l January 20151- ICharitie5 SORP FRS 1021- cl the Charities Act 2011. Publlc bon•fft •ntlty Thè ¢harity meets the definitson of 8 public benefit enw under FRS 102. Golng concern The tnJste$s considor th8t thero are no maler¥81 un¢ert8inli$$ aboth thg chathV$ oblllty to conlnue to operate and awrdingty thg accounts have been prepared on a going o)ncem basis. Income recognltlon Volunrary Income and donauons Ilncludlng legaclesl are actounted for once the PCC has enutlement to the Income. It Is probable Ihe in¢ome wll b8 recei￿d and the amouni of income rectrNable c4n be reliabty mèasured. In¢orne from the rècovery of18x on gift aided donations is accounted for in the period io vthich the relevant donation is received. Grant income is recognised on a recelvabls ba$ls. The income from generating knnds includes ￿ntaI income from the letting of thurch premises, and income from the operalion of a preschool and holiday pl8y sthemes. Both are a¢counted ft)r when eamed and are shown gTQSS, With the asSOa8ted costs induded in expenditure on raising funds. Interest on lunds held on deposit 15 included vthen receiwable and the amount can b8 measured reliabty by th8 charity,. this is normalty upon notification of the interest paid or payable by tre bank. All other in¢ome io rerx)gni58)vnt&1 frK wl)8n paid. Any parish ¢onb"twJon ufip8ld at 31 Decernber wouhj be provided for in these accounts as an operational (though not a legall liability and shown as a creditor in the balance sheeL Deferr￿ Incomo Income received which is contractualty or olhep*ise not eypendable until a fvture wiod is deferred to the period in vthich it mo¥ts Ihe ¢riterie for inc¢)me recognitiLN). R•strlcted Funds Restrictad fun(J$ ar8 to bè used for spe¢ffled pury)oses as kld down by th8 funder. Dlrect and SUPKKrt expenditure vthich meets these criteria are identffied to the fund tojether wih a fair allocation of other costs. Unr•strlct•d Funds Unrestricted funds are funds rewved hava no restriction5 Fdaced on their use and are avaiLable os general fvnds. De$lgn•tod Fund• Designated fijnds are unrestri(aed funds earmarkejj by the tNstees for particU￿r PLtrp)ses. Page 7 Parochlal Church Council of the Ecclesiastical Parish of St Mary, Islington IA Paroehlal Church Councll reylst¢r•d a8 • chartty. nuTrber. 11319001 AccountSng Policies for the ear ended 31 December 2023 Hlr• pur¢h•s• #nd l•a$lng commltments Renlals pard under operating leases are charged lo the Slatement of Financial Acbvitses on a strdight line basis 0￿r th& period of the le85e. P•nslon8 The ch8rity operates defined contribution schemes are adMiniste￿d by ojtside indeFendent pensions pmmders. Contrfbu14ons payable for the ￿ar arè Charg￿ to the Ststement of Finanix81 Adivitses. Tanglble FIX￿ Assets Tangible fixed assets are stated at COSI less t1eprecaation. Dewery'a1io￿ is provided at the lollowing annual rJtss In order to write off eaeth assgt ovèr its osbmated usefvl life. Fixtures & fittings Computer equipmenl - 25% on cost - 33% on c05t ltsms of equipment 8rtr onty ￿pit$ll3t￿ wh8FB the purchase price exceeds £3.OCMJ. No depredation is provided on freehold propety as rt is the PCC'S poly to maintain these assets in a continual state of sound repair. The useful econornic lrfe of these assets is so I¢xtg and residual values 30 high that any deprerialt'on wcAJld not be m81erial. These assets will be subject to annual impaimlent rew¢ws. Pfwsion Mll be made if ther¢ has been any pemianent diminution in value. A policy of revaluation ha8 been adopled for the thurth's fijnctiOn￿ property, which 13 the NeighbrNJrhood Centre. Fonnal valuations ar¢ obtaingd every ygors and th¢e 8$ to materi81 movemwts in property V81ues is obtalngd In thè pgrlod betsveen Consecrat&d Pmperty and Mov8abl& ch￿￿h Fumishtings Consecrated land and b8nefice propety such as Iha church building and vicarage is exdud8d from the accounts in accordance th s10 of the Charities Act 2011. Moveable church contents are held by the wcar and chuTchvrdrdens on special trust for the PCC and require a facumy for disposal. They are accounle(I as inalienable propety unless conse¢r8ted. All expenditu￿ incurred on consecrated or benefic& buildings and moveable church fvmishings, sthether maintenance OT improvèmenl. is expressed within Ihe Statement of Financial Actiwties. Inv•strn•nts Investments are shown in the balance sheet at ch)sing rnafket vdue. Surpluses or defiryts on valuation 8re Ixeditet1 or charged to the st**m•nt of financK41 acttw*•s. Pag8 8 Parochlal Church Councll of the Eccleslastlcal Parfsh of St Mary* Islington IA Paroehlal ¢hur¢h Coun¢ll rn9lst•r•d as • ¢harty, numbèr. 1131900) Notes to the Accounts forthe ar ended 31 Docember 2023 Ineomlng resource8 The incoming resources and surplu3 are attributabb to the wnripal acti￿￿e$ of the c*arity. 2 Net Incomlng re80urc•s Net incoming resources are stated after charyirw.. Auditors le8s- audtt seNces Depreaatl￿ - o¥hned assets 2023 2022 10.250 9,714 215 Trusttss. •moluTn•nt* Emoluments include salartes. fees. bonuses. e4)ense allowanc¢s and estimatsd noTr¢ash benefrts rec*iv8t4e. Ail trustees 8erve in voluntary capacity an(1 do not receive payrnent for their seNce5. APB Ethl¢al Standard- PTovlslon8 avallable for small entllles In common wth m8ny other d)aribès of our siz8 and n8ture we Use 8uditCrf8 to assistvth the preparation of the financial ststements and to provide advice relating to statuw and regulatory compliance. 2023 Total 2022 Total 3 Incom• from donatlons and legacl•s anned giwng Colle¢tion$ at services other donations and appeaL8 Grfi aid reo)vefable Grants Leg8¢y in¢ome 84,769 11.152 48,881 25,246 4.700 933,030 1 107778 B4,769 11.152 51,012 25,321 4,700 934,730 1 111 684 ,121 11,886 23,830 28,690 52,641 2,131 75 1,700 207 168 2023 Total 2022 Total 4 In¢om• from ¢hurch •¢tlYlti•¥ Unr•8trlci Re$tricted Fees for weddings and funerals 2.799 2,799 6.020 2023 Totsl 2022 Totsl 5 Incorne from generating funds Unr•strlct•d R•strlet•d Letbngs Chlldren's Services- Pres¢hool and Fl8yJtheme$ Fundraising events 267.384 192.320 2.325 462 029 267,384 192.320 2.325 462 029 136,317 2023 Total 2022 Total 6 Income from Inv•stm•nts Unr•strlet•d Restrlcted Intere$l TeceN8ble 6.470 6.470 1,970 2023 Total 2022 Totsl Oth•r Ineom• Unrestrict Restricted ScA8r panels- Feed in T8rtff receipts other income 10.037 21,208 10.037 21,208 9,197 26,268 Page 9 Parochial Church Councll of the Eccleslastlcal Parish of St Mary, Islington IA Parochlal Church Councll reglstered as a charlty. numbw. 11319001 Notes to the Accounts for the or gnded 31 December 2023 2023 Total 2022 Total 8 Exp•￿d￿Ur• on ralslng funds Unre•trlctod Rostrlctsd Lethngs- Salary and expenses Children's Services preschool- Salary and expenses FundrBising events 252.668 175,167 5.050 252,668 175,167 5,050 432 885 1.573 2023 Total 2022 Total 9 Exp•ndltur• on ¢hureh o¢tMtI Unrestrlct•d Restrlctsd St Mary's Miswon part￿r5 Home mission Diocesan Cornmon Fund Music Mnistry Children's Ministry Utilities In$Ltrance Cleaning and maintenance Clergy working expanses Curatg$' housing Upkeep of services Parish communication. web8ite and publi¢ty Training and retreats Parish office staff costs Other parish office casts Bad Debt vrrite4)ffs Soul in the Cty Depreciation charge Mary's Transition costs Legal and Professional fees Govemance costs- Audit fees 2,800 13,750 95.000 18,050 44.897 24.012 9,667 23,367 5,301 25,099 6,402 6,786 961 40,495 8,309 580 12,839 55,000 90.000 16,064 27,332 10.294 7.730 136,801 3,131 43,215 11.555 5,722 701 33,879 4,211 13,750 95.000 8.936 9.114 44,897 24.012 9,667 23.367 5.301 25.099 c￿17 786 764 40.495 &309 580 395 197 5,027 215 18.126 3,575 884 59.634 15,886 59,634 15.886 357 227 412 130 495 131 10 Staff costs 2023 2022 Staff salaries Staff s¢Ki81 se¢urty Stsff pensKJns 367,225 18,383 27.883 63,942 2,182 Avefage number of am￿OyeeS durfng th& yfrar w8$: 19 No remunfyration vr4s paid to any Trusts8 or their assoaates for seThices 8$ 8 truslee during thg year onded 31 Decgmber 2023 nor to 31 December 2022. Employees paid in excess of£60,￿0 during the cuffenl year and prgWU$ y80r. None None P8g8 10 Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington IA Parochlal Church Counell regl8t•r•d •* a ¢harlty, numlw. 11319001 Notes to the Accounts forthe ar ended 31 December 2023 Nglghbourh¢xxl Computer equlpment 11 Tanglble flx•d a$s•ts Totsl Cost As at l January 2023 3.250.000 60,581 3,330.581 As at 31 December 2023 3 250 000 3 330 581 D•pr•clatlon As at 1 January 2023 Charge for the year 78,116 78,116 A8 8131 December 2023 Net book value As al 31 Oecember 2023 3.250.000 1.581 3,251.581 As al 310ecember 2022 3.250,000 2.465 3.252.465 The N8lghbotsrhc#)d Centftt Is vesied in the Lond￿ DiC￿eSan Fund on behaK of the PCC. Its market value. subject to the existin9 tenancy, was detemiind as £3.25 million. to include the first Ikjor flat. by Strettons Ch8rteTed Surveyof5 and Valuers In March 2022. The revaluation reserve represents the difference befv￿eTr the current valuation of Ihe Neights•ar mov•monts R trided fvn Restricted income fiJnd8 Unresliicled funds Designated funds General funds RevalL*ation regèrv& Total un￿￿triCted fvnds 102.584 (54.9031 54,587 33.821 425,121 3,172.406 950.530 659,791 188,2151 (701,8971 53.551 156,5511 949.687 326,464 3.172.4 Pag8 11 Parochial Church Council of the Ecclesiastical Parish of St Mary. Islington IA PaT￿hla1 Church Coundl rnglst•r•d a5 a eharfty. number: 11319IMI) Notes to the Accounts forthe ar ended 31 Dècember 2023 Op•nlng R•sourc•s balan arl¥lng R•8OUYU$ utllls•d Oth•r mov•m•nts CloBln9 balan¢• 15 Th• fund$ olthè ¢h*rtty. prlor Restricted nds Restricled income fvnds 138.505 1,265 139,7131 2.527 102.584 nre Designated funds General funds Revaluation reserye Total unrestncted fvnds 82.881 459.307 3,172.406 3,714.594 75,885 309.787 1124.9451 1341.4461 33.821 425,121 3.172,406 3,631.348 12,5271 385.672 466,391 2,527 3.853,099 386.937 1506.1041 3,733,932 o￿nIng R•$owces balance aTisiflg R•sour¢•s utilised Tr4rtsf•rs & 10slng balanee 16 D••lgnat•d lunds: ¢unwrt >•ar Fabric fund Transition fund K8th1een Read18g8cy fund 33,821 28,581 59,634 5,240 11,417 933,030 17.500 933.030 53,551 0￿￿1￿9 R•sour￿• balance arlslng R•8ource¥ utlllsed Tran¥l•fS & adlu8knent• Closlng balancè 17 Dotslgn*tod lund¥: prbor >•ar Fabric fund 82.881 75.885 124,945 33,821 |Fabrlc fund Transilion fund sel aside by the PCC for refij￿15time￿t to the fa￿lC of the church. a fijnd established to cover the costs ofthe trans￿On of seNiees from the charity St Mary I￿ing10n Crynmunty P8rtner5hip to St Mary s in April 2023. legacy from the late Kathleen Read. This vrds given wthout any Testsictbons. To be allocated by the PCC towards Skwfic I￿19¢￿ as rweds aty it1entified. Kathleen Read legacy fvnd Openlng balan¢0 Incomlng Re8ourc•s Transfers & •xp¥nd•d 9•In￿{lo$S￿l Closlng balance 18 R•$trt¢t•d lunds: curre￿ p•rlod Children's Ministy Denise Anlenen Legacy Di8¢retionary lund Flower fund )nday Fellowshlp Retreat fund Vicarage Decoration fund 48,057 50,347 1.298 45 1.338 861 638 1.831 1.700 375 44.897 9.114 4.991 42,933 1,373 45 350 197 664 3,638 3,000 Openlng Incomlng balance resources R•8oure•$ Transf¢r¥ & expended galnsl{losses) Closlng balance 19 R•strl¢t•d fund¥'. prlor perlod Children's Ministry D8nisa Anlenèn L8gacy Di8exetsonary fund Flower lund *Jnday Fellowship Rotr8al fund Soul in the cty caragè Decorallon fun¥J 74,474 57.548 1.298 915 27,332 7,201 48,057 50,347 1,298 45 1,338 861 350 405 53 618 4,104 1,391 1.479 1,S77 638 2,527 638 Page 12 Parochial Church Councll of the Ecclesiastical Parish of St Mary, Islington IA Parochlal Church Council rnglstsrnd as a eharbty. numb•r. 11319001 Notes to the Accounts for the ar ended 31 December 2023 Rèstrlct•d funds leontlnu•dl Projects finanead by restricted funds ar8 SUPPOrt•J by unrestri¢X8d funding noc8S8ary. This occurs V4h8r8 the funding is in arraars tsr the incid*nca of exptrnditLtr$ on thtr prtsjg¢t occurs disprOp￿tionaIety at tha btrginning of thè project compared lo the incorne fknw5. Where reslricled projects end the year wth a deficit Ihi5 is met by after year*nd restricted income or transfe￿ from unrestricted funds. Narn• of R•strl¢t•d Fund 'Chlldrèn's Mlnlitry a fijnd established to meet the c4)sts of employirrfJ a Youlh Minister. The balance of Ihis fund %MII be utilised èarty in 2024. after ￿lCh. ongoirYJ exp•nditure ￿11 be cov8r8d by the PCC'S general ftbnds. This vrds givèn Witt￿￿1 restrictions but the exèujtots indicatèd loUr'a￿aS favourèd by D8nls8 Antèn•n on an adws¢xy basis,. Expenditure in 2023 was in support of dassical music. a fund to be used at the churth wardens. di51xetion. to help people in financial crisis. nd established to collect dcfflations made spec#ficalty ￿ the provisicffl offioral 8trang&ments in thurch. a fund to Fxowd• friendship and refreShrf￿ts for tho congregatson and general public. to be 8PFAied to retreats arml 5imiLqr events. a fvnd estsblished to conthbute towards the costs of St Marfs annual neighbourhood festsval. the PCC is ￿SpOnsIble for setb.ng asi¢Je an annual sum of money th ensu￿ the Vicarage ss k￿1 in gO￿j de¢orativg order. D•nls• Ant•t)•n L•gaey 'Dlser•tlanarylund 'Flower fund ',Monday F•llow¥hlp R•tr•at fund Soul in the city Vlur•g• De¢or•don fund General DMlgnated Restrlcted Revaluatlon funds fuftds funds res•p4• 13.0001 3,0 20 Transf•rs ￿tW￿￿ lund$: ¢urr¢nt p•rlod General to restricted Gen8r81 to d$$ign8ted Totsl 53,551 53,551 156.5511 3,0 G•n•ral O•slgnat•d R•strlet•d funds fvnds funds R•valuatlon reserve 21 Net a¥•ets atlrfbutsljle to fund•: ¢tsrr•nt p•rl¢)d Total Tangible fixed assets Cur18nt assets CuwT8nt liabilit185 Nat a$sets r8pres8nt*J by fiJnds 79.175 337.297 190,008 3,172.406 3.251,581 1,341,571 90,008 949.687 54,587 G•ft¢r¥l D•slgnat•d fvnds funds R•strl¢t•d funds R•valu•Uon rns•rv• 22 N•t as6•ts attrlbutabl• to funds: prlor p•rlod Totsl Tangible fixèd assets Current assets Curren¢ liabilities Net assets representeil by fvnd8 80.059 360,000 34.938 3.172.4C 3,252,465 516,405 34,938 33.821 102.$84 23 T•xatlon The PCC is a ￿gIstered charity. AC￿ldIng￿. it is exempl from tsxation in resFeCt of income and capital gains to the èxtant that these are applied to its charitable oty'&cts. 24 Post bal•n¢• sh¢et w•nts There were no 8ignificanl post balance sheet event8. 25 P•nslon commltm•nts The charity contributes to employee defined contribubon (DCI aulo enrolment pension sthemes. The assels ofthe schemes aro held separatety from those ofthe charity in independentty administered funds. 2023 2.574 £ 2022 354 The unpaid contributions outslanding at Ihe end were: P¥Je 13 Parochlal Church Councll of the Eccleslastlcal Parlsh of St Mary, Isllngton IA Parochi41 Church Council regijtered as a charlty, number: 11319001 Notes to the Accounts for the ar ended 31 December 2023 26 Contlngent Ilabllliles Tho chaiity had no material ¢onting$nt liabilibes al 31 Decemtw 2023 at 31 December 2022. 27 Transition from Marfs On 1 January 2009, the community 8th"wties of the PCC were cmmissTrDned to 8 5¶te registered tharity, cal￿d St Mary lslington Cornmunity PartneT5hip and rebranded during 2014 as.mar￿s.. Under the temis of a lease and licence agreement entered into in April 2013, Ma￿S paid rent of £18.750 in 202312022- £7S.0001 arm1 re￿Ve￿ 8 discretionary grant from St Ma￿S of £13.7SO 12022- £55.0001. The transition of the Community activltiès back to St Mary's took place on 1st April 2023. Marfs Ywih Club ￿ntinu&S to use tho fa¢ilities or th? Neighborhood Centre and Crypt at a pre1erenfl￿ rats. 28 Trnn8#¢tlon8 wlth tnMtsè￿Cc m•mb•rn During the year the total amount aggregate donalions m8de by PCC mambers, their famity memb8rs and business assoclates amounted to £51,377. During the year three trustees were ￿mbUrSed a tolal of £2.227 for eynses incurred on behalf of the charity. 29 Glfts In klnd and volunteers During the year the charity bengffted from unp8id work perfonrnd by ¥oJunleers. P48 14 Charfty ftumber.. 1131900 Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington IA Parochlal Church Councll reglstered as a charfty. number. 1131900) Financial Statements for the year ended 31 December 2023 Parochial Church Counc51 of the Eccleslastlcal Parlsh of St Mary, Isllngton IA Parochlal Church Counell r•olstw•d a$ • ¢h•rity. numbor. 1131900} Independent Auditorfs Report to the Twstees of Parochlal Church Councll of the Ec¢leslastlcal Parlsh of St Ma Islln on We have audited the financial ststements of Pa￿la1 Church Council of the Ecclesiastical Parish of St Mary, Islington for the year gnded 31 December 2023 which comprise the Ststsment of Financial Actiwties. Statem&nt of Financial Postlon. Statemenl of Cash Flows and the Notes lo the Accounts to the Financial Staternents. tnduding a surnmary of signfficant 8¢xounting poliryes. The financial reporting framework that has been appl￿ in lh￿r preparation is applicable law and United King¢Jom AccA)unting Stsndards, Induding Financi81 Reporting Standard 102 Yhe Fin8nrJ81 Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generalty Accepted Acoyjnting Practice). Oplnlon on frnan¢lal stot•monts In our opinion the fin8nual stataments.. give a true and fair wew of the state of the ehartls affairs as at 31 DècÈmber 2023 aNJ of its incoming resources and application of re3ource5. induding its incorne and expenditu￿, lor the year then ended- have been properfy prepared in accordance with Unrte(l Kingdom Generalty Accepted Acc¢yJnting Practice.. and have been prepaTed in accordance ￿lIh the requiremenis of Ihe Charitses Acl 2011. B#xi• for oplnlon We conducted OUT audit in accordance ¥wth Intemational Stsndards on Auditi'ng IUKI IISAS IUKII and applicable18w. Our restxjnsibilities undèr tho$6 standards are further descrtbpd in th8 Audltors. responsibilrties for the audit of the financial statements section of our report. We are independent of the charity in accO￿ance *ryth the ethI￿Tr reqvirements Ihat are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Stsndard. and the promsions available for small entilies, in the circumstancos 5Ot OLrt in Note 2 to the finanoal slatements. and we have fvffilled our other èthical responsibilitiès in accordanc& wth these requirements. We believe th81 Ihe audit evidence we have obtwned is 5Lrffirient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the finanrAal statements. we have rThicbJded that the trustees. use of the going conwn basis of aCcoUn￿ng in the preparati￿ ofth6 finanoal statements is appro￿1819. Based on the wixk wg have performed. ￿ have not identified any material unwtainb.es relating to 8vents or conditions that, individually CK collecb'vely, may cast significant doubt on Ihe charitys aknlity to contsnue as a going cijncem for a period Of at loast twelve mc￿thS from wl)en the finantial statements are aUth￿Sed for issue. Our Y￿pOnsibl[{tIeS and tho responsibilit￿ d Ihe trustees %4ith r6spect to gosrMJ concem are descrsted in Ihe relevant section3 of thi8 rewt. Oth•r Infomiatlon The tnjstees are Tesponsibye for the other infornabon. The other informaiion comwse5 the infoThnati¢)n in the trysteg$' repixt. but does not include the financial statements and our Rel￿ of the Audrt￿$ thereon. Our opinion on Ihe finanual statements does not cover the other information and do not e¥press any form of assurance condiJsi<)n Ihereon. n connection our audit of the financial ststemgnts. our rssponsibilty is to read the other infomiation and. in doing so, consHler vthèther the other inf0m￿tIOn is Materially in0)n￿stent the finanaal ststements or OUT knovAedge obtsined in the audit or other￿Se 8ppe8r5 to be rnalerialty misststeJrt in resr4d of thtr follo*irtg rn8tt¢￿ thg Charitias (PL￿nts and Reports) RegUlat￿S 2008 require us to report to you rf, in our opinion.. adequate and proper acc4JiJnting recoTds have not been kept. or returns ad8qLtate for our audll have not been received from brdnehes not wsited by us", or the financial statements are not in ag￿ement wth the accrMJnling records and rglvms: cert8in disdosures of Tru5tees' rernuner8ty.on speufie(I by law are not made" ( we have not recetved all the inlonnaljon and explanatlons W￿ ￿qUIre lor our audlt.. or the Trustees were not entided to prepare the financial stateM￿ts in am)rd8nce with the sman companies regime and take advantage of the small companies. exemptions in preparing the Trustees repcfft and frorn (he requirement to PTepafe a strategic report. P•38 2 Parochial Church Council of the Ecclesiastical Parish of St Mary, Isllngton {A Parochial Chureh Council rngisternl as a ¢harfty, nurnber: 11319001 Indepondent Auditor's Report to the Trustees of Parochial Church Council of the Eccleslastlcal Parlsh of St Ma Islln ton ReSponslbll￿9 of Iyu8teg8 As explained more ftjlly in the ststement of trustees, responsibilrtjes set ¢JJt on ￿e 7, the twste8s arè r•sponsibSe for tke preparaty.on of the finanaal ststements and for bw'r4J satisfi&Y that tsy gNe a t￿ ar¥J fair wew. and for such internal control as the trust8as detèrmin8 necessary to enable the preparation of finanrial ststements that are free from rnaterial misstatemenL whether due to fraud or eThcK. In preparing the financial statements. the trustee5 are re5wn￿bIè for assessing Ihe charity's aknlity to ¢ontinue a5 a going Cl¥￿rn, disdosing, as applicable. rnatter5 related to g￿n9 toncem aThJ usiThJ the goirvJ COn￿M ba515 ofaccwnbffj vnlgss the trustees either intend to liquidate the chanty or to cease oFerab'on5. or have no reali5bc attematiwd bjt to do so. Our rgspoMlbllltl•s for th• audft oltho financlal 8tat•rnw Our obj8Ctivès aro to obtain reasonable assuran￿ at*xrt vthelher the finanoal statements as a whole a￿ f￿ frorn material rnisstatement, whether due to fra￿ or emr. and to issue an auditorfs report that indudes our opiniM. Reason8trAg assurancè 1$ hvjh level of assurance. but 1$ not 8 guarantee Ihat an aLhJrt coThJucted in ac¢)ydance with ISAS IUKI will a￿tsYS deteci a material rnisstatamant when it exists. Misstatwnents can arise fr(wn fraud orerror and ar• conswjered Material rf. iThYividually or in the aggregate, they couky reasonalJy be expeded to infiuenc* thè •ConoM￿ deosions of users tsken on Ihe basis of thèsè financial ststements. Irregulanties, induding fraud. are instan￿$ ol non-&￿pIl3ncÈ wlh la•*S and regulatior6. We design pl(•lu￿S in lina ￿t￿ our responsibilitss. oulin*J abowd, to datect matsn.al misstatements in ￿pect of irregulariliès. indLwJiNJ fraud. Th& extent to which Dur procadurns are capable ol ¢*te¢brMJ irwularities. indudirg fraud 15 ￿t￿. We identified the *al arK1 reguLatory framthrrts that are ap￿l￿b￿ to Ihe enbty and detem)Ined that the rnost significant are those that rèlate to the speofic busiress en¥ironrnent in ttry cpÈrat•. the reportsng rg]uirements they are oblvJed to adhe￿ to and other legal and rggulaw requirements aWKable to OFeratirMJ entitss in ganaral. Ihese include the Chanb'es Act 2011. FRS 102. th? Charitiès SORP, GDPR aThJ Com￿19 SUFPOrt srIw¢$1￿Isl9ti0n. Th& ch8ritaNe cornpany aperates aThJ ks not ￿nffjCanty impacied by intemalional law or ragulab"ons. Taxation law aThJ regulations ap￿ICab￿ to d￿nbeS akno appty lo tr* ¢hanty tmrt it i8 not invC￿j in any ￿MpleX mattorn that ne￿ase the T¢sk of non-c0rnp1ian￿. Each area of audrt review indudes in the a￿lIt dorJJnentslion referen￿ to kthntsal nOn-com￿lar￿ aTrJ awareness of potgniial non-complian￿ Ls embedded in our awjrt wOcedu￿. We as3e5sed the risk5 of matèrial misstatement in resreca offrathy by eV￿ulry of manag8ment, revivrt ofthe char￿3 ¢￿ratiOnS an¢J direct rewew of synfficant and matsrial trans*Dons. irtluding all non-standard or irregularjoumal 8dju$trnants. Our understanding of organisabon 8nabl&s us to un¢knland and Klenbfy transarb"on5 or ar•as that ¥y￿ar to present a risk of traud. None detactad. Our pre-audit quesbonnaire speryfically makes eThiuires ab￿1 fraud and this is suppryted by audit docurn8ntatson. Wè also rgview Board minutes to ident.fy any matters ol corKem or nsk None Wras Klenbfied. The audit W85 condUC￿d by a aL¥JitOf vkno has a good kncvl&Yge ofts no other assistsnca or support was requi￿. The charty is small, its aCti￿beS ar¢ rggul•r8ThI ¢onststsnt and ar8 Tr)t c>)myex and no special audrt cDnspJwab"ons appty, nor is extsrnal speriali5t a55￿￿ne• requir￿J. A frjrther de3cripts.on of our rèsponsi￿"1￿.es the audrt ofthe financaal statements 1$ kjcatsd on th8 Financaal Courvl'¥ bsrte at nsibiliti•s. This desrybon frmms part of our Repjrt ofthè Audrtors. U•• of our r•port This report ig rnade so￿ty to the charws InJstee5 as a tsxty. in ￿1th Part 4 oflhe Charities (Aciounts and repc*tsl R8gulabons 2008. Our audrt ha5 been undertaken $0 that * mKJht statè to the chantys tnjstees those rnaltgr5 ai8 required to stste to them in an auditor5 rwrt arKI for no oth•r purpc6e. To the hJl&t extent ￿Mi￿t•d by law, do not accept or assume responsibilty to nyc￿ otherthan th• chanty aThJ the chaws trLL8tees as a bcrfjy. fN our audit for this report, or for the cpinions we have f Arni$trong & Co. Statutory Audlior Acc untants & Statut 4a Prfntlng Hou8• Yard H•ckney Road London E2 7PR Datsd: 28 April 2024 Pa3e 3 Parochial Church Council of the Ecclesiastical Parish of St Mary. Isllngton IA Pafoehoal Church Council registered as a charity. number: 1131900) Statement of Financlal Actlvlties for the ear ended 31 December 2023 2023 Tot41 FundB 2022 Totsl Funds Fund• Incom• from.. Donations and legacias Church achMtie5 Generating funds Investments Other Incomè 1.107.778 2,799 462.029 6.470 31.245 1,111,684 2.799 462,029 8,470 31.245 207.168 6.020 136.317 1.970 35.463 Total In¢ornfj 1.610.321 1,614.227 386,938 Exp•ndhur• on: Raising fijnds Churth acts'*itie5 432.885 412.130 10,977 495.131 357.227 Totsl •xp8ndiwr• 790.112 54.903 845,01S $06,108 N•t lncomg119x￿D￿Itulvj and mov•m•nt In lunds 820.209 150,9971 769.212 1119.1701 TrnMl•rn l)•tw•en fund• 20 {3.C(KJl Net mov•m•nt In funds R•conclllatlon of funds- Total fij￿1$ brought I0￿[d 14 3.631.348 102,W 3,733.932 3,853.102 Total Iub)ds earrièd fon¥aryl 14 4A48,$57 4.501144 3,733.932 All incomirrfJ resourc8s aThJ rèsourcwd exreTrJed are derI￿d frorn conb"nuing 4c*wl*5. Thè acccynpanyiftg oc£ounbrrfJ WicAes and notès lomi an integral pwt ofthese financial statwnents. P•Je 4 Parochial Church Council of the Ecclesiastical Parlsh of St Mary. Islington IA Parochlal Church Councll reglst•red as • charfty. nuffll)er. 1131900) Statement of Financial Postion as at 31 Oecember 2023 31 D•c¢mbor 2023 31 D•¢ember 2022 Nol•s Flx•d assets: Tangible assets Totsl fixed as¥gts 11 3.251.581 3,252,465 Current assets.. Debtors Cash at bank and In hand Total current assets 12 78,857 1.262,714 27.879 488 527 Cradltors.. amounis lalllng du• wlthln on• ￿ar 13 ).008 34.939 Net curront assetsllllabllltte8) 1.251.563 481,467 Total net assets 4.503,144 3,733.932 Th• funds ot th• ch•rltr. Reslrictgd funds Unrestricted funds Revaluation ￿se￿8 18 16 S4.587 1,276,151 3,172,406 102,584 458,942 3.172,406 Total charlty fundB 21 4,503.144 3.733,932 The Ilnancjal Btstements were approved bythe Board ofTvust¢¢• on 2024 •nd $lgn•d on Its b•half by. ames es on The note5 oft pages 12 to 17 fomi part ofthese accounts. P8ge 5 Parochial Church Councll of the Ecclesiastical Parish of St Mary* Islington IA Parochlal Church Council TrgisteT•d as a charlty. numbor. 11319001 Statement of Cash Flows for the ar ended 31 December 2023 2023 2022 Cash flows ¥¢tlvhlu: Net cash provided byllused inl operaOng act"Mties 767,718 112.298 C8$h flows from Investlng act5v5tles: Dividends, interest and rents from investments Purchase of property, plant and equipment 6.470 1,970 12.6801 Net cash provld•d WIU￿￿ In) Imstlng actt¥llles Chang* In ¢•8h and ¢a$h equI￿lents In th• r•portlng p•rlod Cash and cash equfvalents at th• bèglnnlng of the reporting period Cash and cash •qul¥ahnts at th• •rtd of the feportlng perfod 774.188 1113,0081 488,526 1,262,714 601,534 488.526 Notestoth C hFJ ment 2023 2022 11 Rwin¢lllotlon of net Incorn•llexpendiiure} to •)et c￿h Ilow from operatSng advltles Net incomellexperHJrture) for the reportiry period las w the statement offinandal activltiesl 769,212 {119,1701 AdJuitm•nts for Depreclatlon chaiges Diwdends, interesl and rents from investrnents Ilncreaseydecrease in debtors IncreaselldecTeasel in creditors 215 11,9701 {8,1501 16,776 16,4701 150,9781 55.069 Not eo$h provlded bylluS￿ In) owraung actlvlU•s 112 298 2023 2022 2) Analysls of cash and cash wulv•l•nts C8sh in hand 1.262,714 488,526 Total ¢a$h and ¢ash •qulv•l•nts 1,262.714 488.526 Page 6 Parochial Church Council of the Ecclesiastical Parish of St Mary* Islington IA Parochlal Church Councll reglstered as a charfty. numbw. 11319001 Accountlng Pollcles for the gar ended 31 Docgmber 2023 8asis of preparatlon The finanual statements have been prepa￿d in accordance wiih.. al Applicable UK accounling Standard5, induding Financial Rewbng Stsndard 102 The Financial Repcwting standa￿ applicable in the UK and Republic of Ireland IFRS 1021.. b) Accounting and Reporbng by Charities.. Slaternent of Recommende(J Praclice appliG3ble to charibes preparing their accounts in accordanc8 with th• Financial Reporting Stsndaid applicable in the UK and Republic ol Ireland IFRS 1021 (effective l January 20151- ICharitie5 SORP FRS 1021- cl the Charities Act 2011. Publlc bon•fft •ntlty Thè ¢harity meets the definitson of 8 public benefit enw under FRS 102. Golng concern The tnJste$s considor th8t thero are no maler¥81 un¢ert8inli$$ aboth thg chathV$ oblllty to conlnue to operate and awrdingty thg accounts have been prepared on a going o)ncem basis. Income recognltlon Volunrary Income and donauons Ilncludlng legaclesl are actounted for once the PCC has enutlement to the Income. It Is probable Ihe in¢ome wll b8 recei￿d and the amouni of income rectrNable c4n be reliabty mèasured. In¢orne from the rècovery of18x on gift aided donations is accounted for in the period io vthich the relevant donation is received. Grant income is recognised on a recelvabls ba$ls. The income from generating knnds includes ￿ntaI income from the letting of thurch premises, and income from the operalion of a preschool and holiday pl8y sthemes. Both are a¢counted ft)r when eamed and are shown gTQSS, With the asSOa8ted costs induded in expenditure on raising funds. Interest on lunds held on deposit 15 included vthen receiwable and the amount can b8 measured reliabty by th8 charity,. this is normalty upon notification of the interest paid or payable by tre bank. All other in¢ome io rerx)gni58)vnt&1 frK wl)8n paid. Any parish ¢onb"twJon ufip8ld at 31 Decernber wouhj be provided for in these accounts as an operational (though not a legall liability and shown as a creditor in the balance sheeL Deferr￿ Incomo Income received which is contractualty or olhep*ise not eypendable until a fvture wiod is deferred to the period in vthich it mo¥ts Ihe ¢riterie for inc¢)me recognitiLN). R•strlcted Funds Restrictad fun(J$ ar8 to bè used for spe¢ffled pury)oses as kld down by th8 funder. Dlrect and SUPKKrt expenditure vthich meets these criteria are identffied to the fund tojether wih a fair allocation of other costs. Unr•strlct•d Funds Unrestricted funds are funds rewved hava no restriction5 Fdaced on their use and are avaiLable os general fvnds. De$lgn•tod Fund• Designated fijnds are unrestri(aed funds earmarkejj by the tNstees for particU￿r PLtrp)ses. Page 7 Parochlal Church Council of the Ecclesiastical Parish of St Mary, Islington IA Paroehlal Church Councll reylst¢r•d a8 • chartty. nuTrber. 11319001 AccountSng Policies for the ear ended 31 December 2023 Hlr• pur¢h•s• #nd l•a$lng commltments Renlals pard under operating leases are charged lo the Slatement of Financial Acbvitses on a strdight line basis 0￿r th& period of the le85e. P•nslon8 The ch8rity operates defined contribution schemes are adMiniste￿d by ojtside indeFendent pensions pmmders. Contrfbu14ons payable for the ￿ar arè Charg￿ to the Ststement of Finanix81 Adivitses. Tanglble FIX￿ Assets Tangible fixed assets are stated at COSI less t1eprecaation. Dewery'a1io￿ is provided at the lollowing annual rJtss In order to write off eaeth assgt ovèr its osbmated usefvl life. Fixtures & fittings Computer equipmenl - 25% on cost - 33% on c05t ltsms of equipment 8rtr onty ￿pit$ll3t￿ wh8FB the purchase price exceeds £3.OCMJ. No depredation is provided on freehold propety as rt is the PCC'S poly to maintain these assets in a continual state of sound repair. The useful econornic lrfe of these assets is so I¢xtg and residual values 30 high that any deprerialt'on wcAJld not be m81erial. These assets will be subject to annual impaimlent rew¢ws. Pfwsion Mll be made if ther¢ has been any pemianent diminution in value. A policy of revaluation ha8 been adopled for the thurth's fijnctiOn￿ property, which 13 the NeighbrNJrhood Centre. Fonnal valuations ar¢ obtaingd every ygors and th¢e 8$ to materi81 movemwts in property V81ues is obtalngd In thè pgrlod betsveen Consecrat&d Pmperty and Mov8abl& ch￿￿h Fumishtings Consecrated land and b8nefice propety such as Iha church building and vicarage is exdud8d from the accounts in accordance th s10 of the Charities Act 2011. Moveable church contents are held by the wcar and chuTchvrdrdens on special trust for the PCC and require a facumy for disposal. They are accounle(I as inalienable propety unless conse¢r8ted. All expenditu￿ incurred on consecrated or benefic& buildings and moveable church fvmishings, sthether maintenance OT improvèmenl. is expressed within Ihe Statement of Financial Actiwties. Inv•strn•nts Investments are shown in the balance sheet at ch)sing rnafket vdue. Surpluses or defiryts on valuation 8re Ixeditet1 or charged to the st**m•nt of financK41 acttw*•s. Pag8 8 Parochlal Church Councll of the Eccleslastlcal Parfsh of St Mary* Islington IA Paroehlal ¢hur¢h Coun¢ll rn9lst•r•d as • ¢harty, numbèr. 1131900) Notes to the Accounts forthe ar ended 31 Docember 2023 Ineomlng resource8 The incoming resources and surplu3 are attributabb to the wnripal acti￿￿e$ of the c*arity. 2 Net Incomlng re80urc•s Net incoming resources are stated after charyirw.. Auditors le8s- audtt seNces Depreaatl￿ - o¥hned assets 2023 2022 10.250 9,714 215 Trusttss. •moluTn•nt* Emoluments include salartes. fees. bonuses. e4)ense allowanc¢s and estimatsd noTr¢ash benefrts rec*iv8t4e. Ail trustees 8erve in voluntary capacity an(1 do not receive payrnent for their seNce5. APB Ethl¢al Standard- PTovlslon8 avallable for small entllles In common wth m8ny other d)aribès of our siz8 and n8ture we Use 8uditCrf8 to assistvth the preparation of the financial ststements and to provide advice relating to statuw and regulatory compliance. 2023 Total 2022 Total 3 Incom• from donatlons and legacl•s anned giwng Colle¢tion$ at services other donations and appeaL8 Grfi aid reo)vefable Grants Leg8¢y in¢ome 84,769 11.152 48,881 25,246 4.700 933,030 1 107778 B4,769 11.152 51,012 25,321 4,700 934,730 1 111 684 ,121 11,886 23,830 28,690 52,641 2,131 75 1,700 207 168 2023 Total 2022 Total 4 In¢om• from ¢hurch •¢tlYlti•¥ Unr•8trlci Re$tricted Fees for weddings and funerals 2.799 2,799 6.020 2023 Totsl 2022 Totsl 5 Incorne from generating funds Unr•strlct•d R•strlet•d Letbngs Chlldren's Services- Pres¢hool and Fl8yJtheme$ Fundraising events 267.384 192.320 2.325 462 029 267,384 192.320 2.325 462 029 136,317 2023 Total 2022 Total 6 Income from Inv•stm•nts Unr•strlet•d Restrlcted Intere$l TeceN8ble 6.470 6.470 1,970 2023 Total 2022 Totsl Oth•r Ineom• Unrestrict Restricted ScA8r panels- Feed in T8rtff receipts other income 10.037 21,208 10.037 21,208 9,197 26,268 Page 9 Parochial Church Councll of the Eccleslastlcal Parish of St Mary, Islington IA Parochlal Church Councll reglstered as a charlty. numbw. 11319001 Notes to the Accounts for the or gnded 31 December 2023 2023 Total 2022 Total 8 Exp•￿d￿Ur• on ralslng funds Unre•trlctod Rostrlctsd Lethngs- Salary and expenses Children's Services preschool- Salary and expenses FundrBising events 252.668 175,167 5.050 252,668 175,167 5,050 432 885 1.573 2023 Total 2022 Total 9 Exp•ndltur• on ¢hureh o¢tMtI Unrestrlct•d Restrlctsd St Mary's Miswon part￿r5 Home mission Diocesan Cornmon Fund Music Mnistry Children's Ministry Utilities In$Ltrance Cleaning and maintenance Clergy working expanses Curatg$' housing Upkeep of services Parish communication. web8ite and publi¢ty Training and retreats Parish office staff costs Other parish office casts Bad Debt vrrite4)ffs Soul in the Cty Depreciation charge Mary's Transition costs Legal and Professional fees Govemance costs- Audit fees 2,800 13,750 95.000 18,050 44.897 24.012 9,667 23,367 5,301 25,099 6,402 6,786 961 40,495 8,309 580 12,839 55,000 90.000 16,064 27,332 10.294 7.730 136,801 3,131 43,215 11.555 5,722 701 33,879 4,211 13,750 95.000 8.936 9.114 44,897 24.012 9,667 23.367 5.301 25.099 c￿17 786 764 40.495 &309 580 395 197 5,027 215 18.126 3,575 884 59.634 15,886 59,634 15.886 357 227 412 130 495 131 10 Staff costs 2023 2022 Staff salaries Staff s¢Ki81 se¢urty Stsff pensKJns 367,225 18,383 27.883 63,942 2,182 Avefage number of am￿OyeeS durfng th& yfrar w8$: 19 No remunfyration vr4s paid to any Trusts8 or their assoaates for seThices 8$ 8 truslee during thg year onded 31 Decgmber 2023 nor to 31 December 2022. Employees paid in excess of£60,￿0 during the cuffenl year and prgWU$ y80r. None None P8g8 10 Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington IA Parochlal Church Counell regl8t•r•d •* a ¢harlty, numlw. 11319001 Notes to the Accounts forthe ar ended 31 December 2023 Nglghbourh¢xxl Computer equlpment 11 Tanglble flx•d a$s•ts Totsl Cost As at l January 2023 3.250.000 60,581 3,330.581 As at 31 December 2023 3 250 000 3 330 581 D•pr•clatlon As at 1 January 2023 Charge for the year 78,116 78,116 A8 8131 December 2023 Net book value As al 31 Oecember 2023 3.250.000 1.581 3,251.581 As al 310ecember 2022 3.250,000 2.465 3.252.465 The N8lghbotsrhc#)d Centftt Is vesied in the Lond￿ DiC￿eSan Fund on behaK of the PCC. Its market value. subject to the existin9 tenancy, was detemiind as £3.25 million. to include the first Ikjor flat. by Strettons Ch8rteTed Surveyof5 and Valuers In March 2022. The revaluation reserve represents the difference befv￿eTr the current valuation of Ihe Neights•ar mov•monts R trided fvn Restricted income fiJnd8 Unresliicled funds Designated funds General funds RevalL*ation regèrv& Total un￿￿triCted fvnds 102.584 (54.9031 54,587 33.821 425,121 3,172.406 950.530 659,791 188,2151 (701,8971 53.551 156,5511 949.687 326,464 3.172.4 Pag8 11 Parochial Church Council of the Ecclesiastical Parish of St Mary. Islington IA PaT￿hla1 Church Coundl rnglst•r•d a5 a eharfty. number: 11319IMI) Notes to the Accounts forthe ar ended 31 Dècember 2023 Op•nlng R•sourc•s balan arl¥lng R•8OUYU$ utllls•d Oth•r mov•m•nts CloBln9 balan¢• 15 Th• fund$ olthè ¢h*rtty. prlor Restricted nds Restricled income fvnds 138.505 1,265 139,7131 2.527 102.584 nre Designated funds General funds Revaluation reserye Total unrestncted fvnds 82.881 459.307 3,172.406 3,714.594 75,885 309.787 1124.9451 1341.4461 33.821 425,121 3.172,406 3,631.348 12,5271 385.672 466,391 2,527 3.853,099 386.937 1506.1041 3,733,932 o￿nIng R•$owces balance aTisiflg R•sour¢•s utilised Tr4rtsf•rs & 10slng balanee 16 D••lgnat•d lunds: ¢unwrt >•ar Fabric fund Transition fund K8th1een Read18g8cy fund 33,821 28,581 59,634 5,240 11,417 933,030 17.500 933.030 53,551 0￿￿1￿9 R•sour￿• balance arlslng R•8ource¥ utlllsed Tran¥l•fS & adlu8knent• Closlng balancè 17 Dotslgn*tod lund¥: prbor >•ar Fabric fund 82.881 75.885 124,945 33,821 |Fabrlc fund Transilion fund sel aside by the PCC for refij￿15time￿t to the fa￿lC of the church. a fijnd established to cover the costs ofthe trans￿On of seNiees from the charity St Mary I￿ing10n Crynmunty P8rtner5hip to St Mary s in April 2023. legacy from the late Kathleen Read. This vrds given wthout any Testsictbons. To be allocated by the PCC towards Skwfic I￿19¢￿ as rweds aty it1entified. Kathleen Read legacy fvnd Openlng balan¢0 Incomlng Re8ourc•s Transfers & •xp¥nd•d 9•In￿{lo$S￿l Closlng balance 18 R•$trt¢t•d lunds: curre￿ p•rlod Children's Ministy Denise Anlenen Legacy Di8¢retionary lund Flower fund )nday Fellowshlp Retreat fund Vicarage Decoration fund 48,057 50,347 1.298 45 1.338 861 638 1.831 1.700 375 44.897 9.114 4.991 42,933 1,373 45 350 197 664 3,638 3,000 Openlng Incomlng balance resources R•8oure•$ Transf¢r¥ & expended galnsl{losses) Closlng balance 19 R•strl¢t•d fund¥'. prlor perlod Children's Ministry D8nisa Anlenèn L8gacy Di8exetsonary fund Flower lund *Jnday Fellowship Rotr8al fund Soul in the cty caragè Decorallon fun¥J 74,474 57.548 1.298 915 27,332 7,201 48,057 50,347 1,298 45 1,338 861 350 405 53 618 4,104 1,391 1.479 1,S77 638 2,527 638 Page 12 Parochial Church Councll of the Ecclesiastical Parish of St Mary, Islington IA Parochlal Church Council rnglstsrnd as a eharbty. numb•r. 11319001 Notes to the Accounts for the ar ended 31 December 2023 Rèstrlct•d funds leontlnu•dl Projects finanead by restricted funds ar8 SUPPOrt•J by unrestri¢X8d funding noc8S8ary. This occurs V4h8r8 the funding is in arraars tsr the incid*nca of exptrnditLtr$ on thtr prtsjg¢t occurs disprOp￿tionaIety at tha btrginning of thè project compared lo the incorne fknw5. Where reslricled projects end the year wth a deficit Ihi5 is met by after year*nd restricted income or transfe￿ from unrestricted funds. Narn• of R•strl¢t•d Fund 'Chlldrèn's Mlnlitry a fijnd established to meet the c4)sts of employirrfJ a Youlh Minister. The balance of Ihis fund %MII be utilised èarty in 2024. after ￿lCh. ongoirYJ exp•nditure ￿11 be cov8r8d by the PCC'S general ftbnds. This vrds givèn Witt￿￿1 restrictions but the exèujtots indicatèd loUr'a￿aS favourèd by D8nls8 Antèn•n on an adws¢xy basis,. Expenditure in 2023 was in support of dassical music. a fund to be used at the churth wardens. di51xetion. to help people in financial crisis. nd established to collect dcfflations made spec#ficalty ￿ the provisicffl offioral 8trang&ments in thurch. a fund to Fxowd• friendship and refreShrf￿ts for tho congregatson and general public. to be 8PFAied to retreats arml 5imiLqr events. a fvnd estsblished to conthbute towards the costs of St Marfs annual neighbourhood festsval. the PCC is ￿SpOnsIble for setb.ng asi¢Je an annual sum of money th ensu￿ the Vicarage ss k￿1 in gO￿j de¢orativg order. D•nls• Ant•t)•n L•gaey 'Dlser•tlanarylund 'Flower fund ',Monday F•llow¥hlp R•tr•at fund Soul in the city Vlur•g• De¢or•don fund General DMlgnated Restrlcted Revaluatlon funds fuftds funds res•p4• 13.0001 3,0 20 Transf•rs ￿tW￿￿ lund$: ¢urr¢nt p•rlod General to restricted Gen8r81 to d$$ign8ted Totsl 53,551 53,551 156.5511 3,0 G•n•ral O•slgnat•d R•strlet•d funds fvnds funds R•valuatlon reserve 21 Net a¥•ets atlrfbutsljle to fund•: ¢tsrr•nt p•rl¢)d Total Tangible fixed assets Cur18nt assets CuwT8nt liabilit185 Nat a$sets r8pres8nt*J by fiJnds 79.175 337.297 190,008 3,172.406 3.251,581 1,341,571 90,008 949.687 54,587 G•ft¢r¥l D•slgnat•d fvnds funds R•strl¢t•d funds R•valu•Uon rns•rv• 22 N•t as6•ts attrlbutabl• to funds: prlor p•rlod Totsl Tangible fixèd assets Current assets Curren¢ liabilities Net assets representeil by fvnd8 80.059 360,000 34.938 3.172.4C 3,252,465 516,405 34,938 33.821 102.$84 23 T•xatlon The PCC is a ￿gIstered charity. AC￿ldIng￿. it is exempl from tsxation in resFeCt of income and capital gains to the èxtant that these are applied to its charitable oty'&cts. 24 Post bal•n¢• sh¢et w•nts There were no 8ignificanl post balance sheet event8. 25 P•nslon commltm•nts The charity contributes to employee defined contribubon (DCI aulo enrolment pension sthemes. The assels ofthe schemes aro held separatety from those ofthe charity in independentty administered funds. 2023 2.574 £ 2022 354 The unpaid contributions outslanding at Ihe end were: P¥Je 13 Parochlal Church Councll of the Eccleslastlcal Parlsh of St Mary, Isllngton IA Parochi41 Church Council regijtered as a charlty, number: 11319001 Notes to the Accounts for the ar ended 31 December 2023 26 Contlngent Ilabllliles Tho chaiity had no material ¢onting$nt liabilibes al 31 Decemtw 2023 at 31 December 2022. 27 Transition from Marfs On 1 January 2009, the community 8th"wties of the PCC were cmmissTrDned to 8 5¶te registered tharity, cal￿d St Mary lslington Cornmunity PartneT5hip and rebranded during 2014 as.mar￿s.. Under the temis of a lease and licence agreement entered into in April 2013, Ma￿S paid rent of £18.750 in 202312022- £7S.0001 arm1 re￿Ve￿ 8 discretionary grant from St Ma￿S of £13.7SO 12022- £55.0001. The transition of the Community activltiès back to St Mary's took place on 1st April 2023. Marfs Ywih Club ￿ntinu&S to use tho fa¢ilities or th? Neighborhood Centre and Crypt at a pre1erenfl￿ rats. 28 Trnn8#¢tlon8 wlth tnMtsè￿Cc m•mb•rn During the year the total amount aggregate donalions m8de by PCC mambers, their famity memb8rs and business assoclates amounted to £51,377. During the year three trustees were ￿mbUrSed a tolal of £2.227 for eynses incurred on behalf of the charity. 29 Glfts In klnd and volunteers During the year the charity bengffted from unp8id work perfonrnd by ¥oJunleers. P48 14