2024-12-31-accounts

ST MARY ISLINGTON ANNUAL REPORT 202kt STMARY'S I calling Islington home

TABLE OF CONTENTS

VISION AND 3 MISSION VICAR’S REPORT 4

SNAPSHOT 6 OF ST MARY’S

MUSIC 8 REPORT

YOUTH & CHILDREN’S MINISTRY

OPERATIONS AND ENTERPRISE

TREASURER’S REPORT

DEANERY SYNOD

GOVERNANCE & STRUCTURE

13

14 15

16 17

ECO CHURCH 9 PRESCHOOL AND 10 PLAYSCHEME SCHOOL 12 ENGAGEMENT

CHARITY & CONTACT DETAILS 18

ST MARY ISLINGTON VISION Our vision is to be a church 'calling Islington home'. MISSION

• Our mission strategy will help us make our vision of ‘Calling Islington Home’ a reality for everyone who connects with St Mary’s.

• It is framed by our shared values of commitment, connection and caring

• It is built on our foundations of prayer, safeguarding, being a good employer, and caring for creation.

VICAR’S REPORT

GROWING AS A COMMUNITY OF FAITH

Our mission strategy is to connect Islington to God and one another and in 2024 we saw an encouraging growth in numbers of people at our Sunday services, particularly among children and families.

JAMES HUGHESDON

Vicar

The launch of St Mary’s Junior Choir has been a huge success, with children increasingly involved in our worship through music. Our Creative Lent Project saw contributions from all ages, demonstrating how faith and creativity can flourish together.

MAKING VISION A REALITY

As we look back on 2024, it is with thankfulness and joy that we celebrate the ways in which God has been at work in our church and community. St Mary’s continues to be a place where people discover their spiritual home and encounter God. In 2024 we continued to see this take root in exciting ways.

We continue to pray that God will grow our congregation, and it was encouraging to see over 10,000 attendees at services last year, particularly at key moments such as Easter and Christmas. We rejoice in seeing more people finding their home at St Mary’s, encountering Christ in worship and fellowship.

DISCIPLESHIP, EVANGELISM AND CONNECTIONS

We are committed to helping people grow in faith and in 2024 we took steps to develop clear discipleship pathways. Our Alpha Course and Practising the Way groups welcomed those seeking to go deeper in their Christian faith, while our prayer ministry and our quarterly healing services offered a space for deeper spiritual care. Our first Core Leaders’ Day enabled exciting discussion about how we can all play our part in discipleship and evangelism programmes. St Mary’s is also becoming known as a church where people are coming to faith, particularly through baptism and confirmation. We celebrated confirmations at Harvest with the Bishop of Stepney.

A key part of our strategy is strengthening community connections and in 2024 we actively built relationships with local organisations, schools and churches. Our schools outreach has resulted in over 1,600 children visiting St Mary’s, encountering faith in a welcoming and engaging environment. Our commitment to partnership has also deepened through our collaboration with local churches, ensuring we play an active role in the wider Church’s mission in Islington.

VICAR’S REPORT

CARING FOR CREATION

In 2024 we made strides toward our goal of becoming a Gold Eco Church and submitted our Gold Eco Church application. It was a huge achievement to find out in early 2025 that we were awarded gold status. We will continue to embed creation care in all aspects of our ministry, from teaching about environmental responsibility to ensuring our buildings and site move towards net zero. Our work in this area is beginning to make a visible impact, positioning St Mary’s as a leader in eco-justice.

CARING FOR ISLINGTON

In 2024 our Youth Group enjoyed a variety of activities, from a special visit from Guide Dogs for the Blind, where they learned about accessibility and service, to a trip to Chessington World of Adventures, strengthening friendships and fostering a sense of belonging. Mary’s continues to operate a youth club from our Neighbourhood Centre; we are grateful for our partnership.

FUTURE SUSTAINABILITY

Ensuring financial sustainability is vital to our longterm commitment to Islington. We are working towards increasing the use of, and therefore income from, our buildings. Last year saw growth in our venue hire and community partnerships. The generosity of our congregation has been foundational to supporting our mission and ministry. We are especially grateful for Kathleen Read’s legacy, which is enabling us to strategically invest in our mission and ministry. If you would like to know more about leaving a legacy to St Mary’s or giving regularly visit stmaryislington.org/give.

We invested in our early years provision, with St Mary’s Preschool continuing to provide very important care and support for local families. The work of our Youth Minister, and the rest of our congregational team, ensures that our young people are growing in faith and being actively supported as they navigate life’s challenges. It is a joy in early 2025 to have welcomed our new Children and Families Minister.

THANK YOU

None of this would have been possible without the dedication of our staff and congregation. From those who lead ministries, all our volunteers, to everyone who prays for and supports the work of St Mary’s – thank you. Your commitment enables us to live out our mission in impactful and transformative ways. We look ahead with hopeful expectation. God is at work among us, and we continue to trust that He will guide us in growing as a church committed to Islington, connected to one another, and caring for our community.

Rev. James Hughesdon

SNAPSHOT OF ST MARY’S

SOCIAL MEDIA

BOOKINGS INCOME

Instagram

40.3k views 16.3k reach (+ 1.6k YOY) 985 interactions (+ 100% YOY)

Facebook

32.2k views 31.8k reach (+79.5k YOY) 787 interactions (+32% YOY)

Room hire income increased to almost £300,000 compared to the previous year. An increase of 12%.

Life Events

Four weddings, ten baptisms and seven funerals

EIGHT PCC MEETINGS

OUR FIRST CREATIVE LENT PROJECT

FOUR ST MARY’S GARDEN GROUP SESSIONS

12 Free Friday Recitals

12 performances with free hot drinks and cakes with over 1000 attendees

188 ELECTORAL ROLL MEMBERS

SNAPSHOT OF ST MARY’S

ST MARY’S FESTIVAL

Family Fun Day Free Friday Recital Pub Quiz c ; » id Saves a } 2000+ Guided History Walks attendees St Mary’s Tower Tours Repair Shop Quiet Morning qu ay a ty ae Gl 5 = Evening of Music and Poetry ee 188 ON OUR ‘4 ey wren =) gsm ee Se ee Pit ELECTORAL ROLL es ih oh ea | i i SMS” g Le¥ + he Oy. 2) ey) Be y —. iL a 2) Pure teu. Te: lige i . SB (es ont ew ape Gi oe * o4 alle ‘= jhg ny in Be POS hae P a SAS ‘| Y On ve | te AM €a wa+: ae ret NseR Ae tha a sbef BOEoye aleee J mSa, J << oe mse mae f “a (@ € ee lee — a ws Sy + © eg wy , ONE BAND OF 2024 CHURCH ATTENDANCE BELL RINGING

ONE BAND OF BELL RINGING REINDEER

Over 10,000 service attendances were recorded 1,656 visits from local pre and primary school children More than 3,000 people came to other events Over 2200 came to a Christmas service at St Mary’s

52 eco tips published on our website, our newsletters and on our socials

1000 BULBS PLANTED ON BULB SUNDAY

MUSIC REPORT

2024 has seen continued growth in the music department at St Mary’s. New band equipment and choir sheet music has continued to attract new members. Music of Poetry and Water and Carols by Candlelight services were highlights. Both attracted musicians from outside our usual pool and we invited guests from Islington Choral Society, Morley Folk Singers and UCL Chamber Music Club.

SPECIAL EVENTS

Our monthly Sunday evening Taizé service continues to provide a meditative space for the congregation, and the chance for our musicians and others to engage in an alternative form of worship. It has been enriched by guest cellists on a number of occasions in 2024.

FREE FRIDAY RECITALS

We were excited to launch our series of Free Friday Lunchtime Recitals, which took place monthly throughout the year. The series was begun by the London Piano Duo and actor Joshua Shea, who set the tone for some fantastic performances, attracting audiences of over 100 people.

Creative Lent Project was another high point, when we asked people to respond creatively to Jesus’ triumphant entry to Jerusalem. This saw performances of music by members of the congregation and one by a member of our Junior Choir. The Junior Choir also sang a new song, just one of a number of songs written by Susan Raasay for the church.

CHRISTMAS

Overwhelming demand for our Carols by Candlelight services this year gave us cause to host an additional candlelit service. Led by the band it included more modern Christmas worship music in addition to favourite carols. Carols on the Steps was bolstered this year by a brass quartet, which created a rich and festive atmosphere, made all the more special by complimentary, seasonal refreshments.

Thanks go to all our excellent and committed volunteer musicians who contribute so much to our ministry.

ECO CHURCH

Highlights from 2024 under each of the five Eco Church categories include:

Worship and teaching: For the second year running, the church hosted a Bulb Sunday, advertised to the community as a time of worship followed by the planting of spring bulbs, this year at the east end of the church.

Buildings: The Cloudesley charity gave the church generous grants towards secondary glazing in the crypt and installing LED lighting in the nave and chancel.

Land: Thanks to funding from Kathleen Read’s legacy, the PCC appointed a part-time gardener to help improve biodiversity in the church gardens.

Lifestyle: We ran a Repair Shop during the St Mary’s festival, with local businesses and charities offering free advice and repairs, including to electrical goods.

Engagement with wider campaigns: as part of its mission giving, the PCC is now supporting TreeAid. This charity aims to draw down CO2 from the atmosphere and also tackle poverty and land degradation by growing trees across the drylands of the Sahel in Africa.

At the end of the year we applied to, and were awarded, A Rocha for Gold Eco Church status.

ST MARY’S PRESCHOOL

St Mary’s Preschool had 52 children attend in 2024 making it a busy and eventful year.

We focussed on increasing the number of two-yearolds coming through the doors. This was in response to the changing demographics of Islington. Increased living and housing costs have seen more famlilies move out of London espeically those wanting their child/children to move into reception class in the summer term. There was also a change in Islington primary schools, with some merging and/or closing as schools reacted to the fall in numbers of three year olds.

Our 2024 St Mary’s Preschool numbers show a fall in three year old numbers on roll as children join primary school nurseries.

Total children for the year	Spring Term37 on roll	Spring Term37 on roll	Summer Term 32 on roll	Summer Term 32 on roll	Autumn Term34 on roll	Autumn Term34 on roll
57	2yr	3yr	2yr	3yr	2yr	3yr
Funded	10	25	6	26	19	15
Full paying	2	-	2	-	1	-
SEND	3	8	2	11	6	5
Received additional SEND funding	3	3	3	3	3	1
PEL additional funding	-	4	-	3	-	2
EAL (English as an additional language)	6	14	2	15	5	8
Early Help	-	2	-	2	1	2
Referral to CST	-	-	-	1	-	-

ST MARY’S PLAYSCHEME

St Mary’s Playscheme ran nine weeks of holiday provision in 2024. We received government funding for the provision of holiday activity and food (HAF) for children aged six to 11 years old for six of these weeks. The HAF provision fed and supported a large number of children, giving families extra food with support from The Felix Project.

As in 2023 there was a large number of children with special educational needs in attendance. Islington Council visited the Easter and Summer HAF provision and commented favourably on the children's activity programme and menu. It was evident the children enjoyed the food from both their comments and their parent’s comments. The children had an excellent choice of activities and a good range of exercise. The scheme looked and felt outstanding. The children we spoke to agreed.

We received council funding for the weeks we were open. Our challenge was the drop in the number of families buying one-week placement spaces. This has led us to looking carefully at the sustainability of running the playschemes in the one-week half term holidays. We have agreed to run St Mary’s Playscheme for a further financial year, until March 2026, to understand the real effects of numbers on the provision of this service.

Childcare Manager

SCHOOL ENGAGEMENT

During 2024 we grew our connections with local schools and at the end of the 2023/24 academic year we hosted the annual Deanery Leavers’ Service, service that marks the end of the primary school journey for all CoE Y6s in the Islington Deanery. They came with banners and globes and Josh Richards gave a talk. We also hosted an ‘End of Year’ service for St Mary’s Primary school to which parents and families were invited.

St Mary’s Primary School held their annual Harvest and Christmas services at St Mary’s. During these services there were readings, prayers and poems from children between the ages of 5-11 years old. In total we had over 500 children and family members in attendance. The school also took part in our Experience Christmas Programme which teaches children about the Nativity Story in an interactive way. Moving forward they will be participating in our Experience Easter Programme. Several members of our PCC are governors at St Mary’s Primary School.

We also connected with Laycock and William Tyndale Primary Schools over the Christmas period. They invited the St Mary’s church team to go into the schools and host Christmas assemblies, as well as to visits to their nursery and reception classes to discuss the nativity story.

YOUTH AND CHILDREN’S MINISTRY

Starter, kids and youth church theme for 2024 was ‘Books of the Bible’. They started with the Old Testament which allowed children aged 5-16 years old to ask questions and gain a deeper understanding of the Bible. Kid’s Church created their own craft book which covers each book of the Bible. Youth Church learnt about the books of the Bible through videos produced by ‘The Bible Project’.

Over 800 people attended our family friendly Christmas services: Big Family Carols, 4.30pm Carols by Candlelight and Children’s Christmas Eve Service. Children read, sang and prayed in each of services.

We took a group of 20 children, young people and adults to Brighton for the day. We visited the beach, went bowling, walked along the pier and much more.

We hosted our third annual Light Party on 31 October to which we welcome over 150 children and adults.

The Youth Club focused on the theme of ‘Hard Work’. This included getting involved with Bulb Sunday; helping to maintain the church gardens; going on a church walk. In October, they celebrated Black History Month by learning how to cook Jerk Chicken and they also went to the theatre to watch ‘Back to the Future’.

As a church team we are thankful to the volunteers who helped assist us with all our school visits and services.

OPERATIONS AND ENTERPRISE

2024 was a consolidation year in the Operations and Enterprise Team at St Mary’s. It was our first full year managing all operations across the site and we were able to fully implement the proper work of maintaining and running the site now that all of our systems are tried and tested.

Income booked to the end of 2024 Average per month: £23,869 Full year actual: £286,429 The total operational department income for 2024 was £375,731. This includes income from our rental property, lease agreements and other income.

Target Achieved: Total booked by the end of 2024 was 91.65% of our total target

2024 HIGHLIGHTS

Cleaning staff came under the employment of St Mary's helping to expand our team Role of evening and weekend receptionist role was created and filled

The Garden Flat came under our direct management

St Mary’s Preschool storage overhaul was commisioned and completed as well as a new storage system installed in Johnston Room

Johnston Room was refloored

New toilets were installed in the women's toilet in St Mary’s Neighbourhood Centre

In a direct year-on-year comparison we generated £29,489 more in 2024 than 2023. This is equivalent to an increase of 12%.

• The largest positive difference was in April with an YOY increase of £10,168. The only two months in the year that fell below the previous year were March and August with a difference of £2,770 and £3,180 respectively.

Operations and Enterprise Manager and Churchwardens

TREASURER’S REPORT

2024 CONSOLIDATION

This year we have a deficit of £14k. This deficit is slightly less than budgeted. After our first full year of integration of the lettings and children’s work we have a much better understanding of the costs and benefits of these parts of our organisation.

INCOME

Our primary source of income is still the generous contributions of our congregation. This year it included £58k final balances received from the estates of Katherine Read and Liz Salmon and a grant of £26k from the Cloudesley Foundation for the installation of secondary glazing in the Crypt.

However growth in this area has not matched the growth in our numbers. This is something we should look to in the future.

COSTS

The preschool and playscheme we run is more than covering its costs which is a testament to Sharon and her teams hard work and dedication.

While our maintenance expenditure was significantly over our budget we have also seen unexpected income from the parking which has helped balance this.

Our reserves policy is to have three months of expenditure in our reserves.

The full financial report is available on request from the church office or by emailing [e-mail]

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 2024, in February, was mainly given over to small group discussions on the importance for mission of connecting to the communities in which we live, and on how to engage our congregations so as to be more creative in worship. The June meeting concentrated on how churches can help people with mental health issues, and heard from three charities: Renew Wellbeing; Sanctuary and Kintsugi Hope. All three charities provide training.

The autumn meeting heard from three churches about their children’s work. One has developed ‘Bubble Church’ – a liturgy for children including all the main elements of a service, which is growing the number of children coming to the church. James, our vicar, talked about the increasing engagement of St Mary’s with local schools. The third church has a fortnightly ‘sensory drop-in’ for children with special educational needs – mostly autism.

GOVERNANCE AND STRUCTURE

OUR PAROCHIAL CHURCH COUNCIL MEMBERS 2024

The Revd James Hughesdon, chair The Revd Freya Bradley, Curate The Revd Josh Richards, Curate Churchwarden Mr Edward Adegbola Churchwarden Mrs Veronica Coulson Churchwarden Miss Rebecca Shilling 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) 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 (elected) Mr Neville Walter PCC Member (elected) Mr Daniel Sharpe

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.

Registered charity name: Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington Registered charity number: 1131900

St Mary Islington, Upper Street, London, N1 2TX telephone: [phone] email: [e-mail] www.stmaryislington.org

www.stmaryislington.org/give

ST MARY ISLINGTON ANNUAL REPORT 2024 STMARY'S calling Islington home

Charfty number.. 1131900 Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll reglstered as a charlty, number: 1131900) Financial Statements and Trustees. Report for the year ended 31 December 2024

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Council reglstered as a charity, numbor: 1131900) Statement of Trustees. Responsibilities for the year ended 31 December 2024 The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Praclicel. The trustees are required by law to prepare financial statements for each financial period which give a true and fair vl8w of the financial activities of the charity and of its financial position at th6 end of that period. In preparing those financial stalements the trustees are required to.. a} Select suilable accounting policies and apply them consistently. b) Observ8 the methods and principles in the Charities SORP; c) Make judgements and estimates that are reasonable and prudenl", d) Follow applicable accounting standards and statements of recommended practice. subject to any material departures disclosed and explained in the accounts., e) Prepare the financial ststements on the going conGern basis unlèss it is inappropriate to assume that the charity will continue in operation. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that th8 financial statements comply with Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the goveming document. They are also responsible for safeguarding the assèts of the charity and hence for taking reasonable steps for the prevention and detèclion of fraud and other irregularities. Page 2

PJ< foGhial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll registered as a charlty, number: 1131900) Independent Auditor's Report to the Trustees of Parochial Church Councll of the Ecclesiastical Parlsh of St Mary, Islington We have audited the financial statements of Parochial Church Council of the Ecclesiaslical Parish of St Mary, Islington for the year ended 31 December 2024 which comprise the Statement of Financial Activities, Statement of Financial Postion, Staternent of Cash Flows and the Notes to the Accounts to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Slandard applicable in the UK and Republic of Ireland, (United Kingdom Gan8rally Accepted Accounting Practice). Opinion on financlal statements In our opinion the financial slalements.. give a Irue and fair view of the slate of the charity's affalrs as at 31 December 2024 and of Its Incoming resources and application of resources, including its income and expenditure, for the year Ihen ended: hav8 been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prdctice; and have begn prèpared in accordance with the requir8ments of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Stsndards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Elhical Standard, and the provisions available for small entities. in the circumstanc8s set out in Note 2 to the financial statoments. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believé that th8 audit evidence wè have obtained is sufficient and appropriate to provide a basis for our opinion. Con¢lusion8 rélatlng to going concern In auditing the financial statements, we have concludèd that the trustees, use of th8 golng conc8rn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performèd, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements arè authorlsed for Issue. Our responsibilities and the responsibiliti88 of th8 trustees with respèct lo golng concem are described in the relevanl s8Ctlons of this report. Other Informatlon The trustees are responsible for the other information. The other information compri56S the information In the trustees, report, but does not include the financial ststemenls and our Report of the Auditors thereon. Our opinion on the financial slatements does not COV8r Ihe other information and we do not express any fomi of assurance conclusion thereon. In conneclion with our audit of the financial statements, our responsibility is to read the other information and, in doing so. consider whether Ihe other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially mis5lated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to r8POrt that fact. We have nothing to report in this regard. Matters on whlch wo are r8qulred to report by exceptlon In the light of the knowledge and understanding of the charity and its environment oblained in the course of the audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion- adequate and proper accounting records have not been kepl, or retums adequate for our audit have not b88n received from branches not visited by us. or the financial statements are not in agreement wth the accounting records and retums. or certain disclosures of Trustees. remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the Trustees were not entitled to prepare the financial ststements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees report and from the requirement to prepare a strategic report. Page 3

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll regislered as a charity, number- 1131900) Independent Auditorfs Report to the Trustees of Parochlal Church Council of the Ecclesiastical Parish of St Mary, Islington Rosponsiblllties ol trustees As explained rnore fully in the statement of trustees. responsibilities set out on paga 2. the tnjstees are responsible for tho preparation of the financial statements and for being satisfied that Ihey give a true and fair view, and for such intemal control as the trustees detèrmine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing th8 charivs ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going con￿rn basis of accounting unless the trustees eith8r intend lo liquidate the charity or to cease operations, or have no realistic alternative but to do so. Our responslbllltles for the audll of th6 financlal ststemenls Our objectives are to obtsin reasonable assurance about whether the flnancial statements as a whole are free from malerlal misstatemènt, whether due to fraud or error, and to issue an audilofs report that includes our opinion. Reasonable assurance is a high lev81 of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when it exists. Misslatemenls can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be exp8Cted to influence the economic decisions of users taken on the basis of these financial statements, Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in Ilne with our responsibilities. outlined above, lo delect material misstatements in respect of irregularities, inGluding fraud. Th6 extent lo which our procedures are capabl8 of detecting irregularities, Including fraud is detailed below: We identified the legal and regulatory frameworks that are applicable to the entity and detemiined that the most significant are those that relate to the specific business environment in which they op8rate, the reporting requirements they are obliged to adh8rè to and other legal and regulatory requirements applicable to operating 8nlities in general. These includ8 the Charities Act 2011. FRS 102, the Charities SORP and GDPR legislation. The charitable company operat8S locally and is not significantly Smpacted by Internatlonal law or regulations. Taxallon law and regulations applicable to charities also apply to the charity but It is not Involved In any complex matters that increase Ihe rfsk of non-compliance. Each area of audit review includès in th6 audit documentation reference lo pot8ntial non-compliance and awareness of potentlal non-compliance is embedded in our audit procedures. W8 assessed the risks of material misslalement in respect of fraud by enquiry of management, review of the charivs operations and direct review of significant and material transactions, including all non-standard or irregular journal adjuslmenls. Our understanding of the organisation enables us to undèrstand and identify transactions or areas that appear lo present a risk of fraud. None were detected. Our pre-audit questionnaire specifically makes enquires about fraud and this is supported by audit documentation. We also review Board minutes to identify any matters of concem or risk. None was identified. The audit was conducted by a very experienced auditor who has a good knowiedg6 of the client and no other assistance or support was required. The charity is small, its activities are regular and consistent and are nol ¢ompl8x and no special audit considerations apply, nor Is ext8rnal specialist assistanc8 required. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's webslte at www.frc.or .uklauditorsroS onslbllltles. This description forms part of our Report of the Auditors. Use of our report This report is made solely to the charilys trustees as a body, in accordance wilh Part 4 of the Charities (Accounts and reports) Regulations 2008. Our audit work has been undertakén so that we might slate to the charity's trustees those matters we are required to slate to them in an auditors report and for no other purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit y￿rk, for this report, or for the opinions we have for Armstrong & Co, Statutory Auditor CharteredAccountants & Statuto Auditor 4a Prlntlng House Yard Hackney Road London E2 7PR Dated: *thlaHrh 2025 Page 4

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington IA Parochial Church Council reglstered as a charity, number: 1131900} Statement of Financial Activities for the year ended 31 December 2024 2024 2023 Unrestrict8d Funds Restricted Funds Total Fund$ Total Funds Notès Incomo from: Donations and legacies Church activities Generating funds Investments Other In¢ome 230,339 2,481 643,189 56.736 13,100 29,522 259,861 2.481 643,189 56,736 13,100 1,111,684 2,799 462,029 6,470 31,245 Totsl In¢om8 945,845 29,522 975,367 1,614,227 Expendlture on: Raising funds Church activities 607.918 366,819 607.918 378,924 432,885 412,130 12,105 Total expendltur 974,737 12,105 986,842 845,015 Net Incomel(expendlturg) and movemont In fund8 (28,892) 17,417 (11,475) 769.212 Transfers between funds 20 46.571 (46,571) Net movement In fund8 17,679 (29.154 (11,475) 769,212 Reconclllatlon of funds: Total funds brought foNard 14 4,448,557 54,587 4,503,144 3.733,932 Total funds oarrled for¥Yard 14 4.466,236 25,433 4,491,669 4,503,144 All incoming resources and resources expended are derived from continulng activities. The accompanying accounting policies and notes form an integral part of these financial statements. Page 5

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll registered as a charity, number: 1131900) Statement of Financial Postion as at 31 December 2024 31 Decefflber 2024 31 December 2023 Not88 Flxed assets: Tangible assets Total flxed assets 11 3,250,697 3.251,581 3,251,581 3,250,697 Current assgts: Debtors Cash at bank and In hand Total current assots 12 11 85,422 1.231,226 1.316,648 78,857 1,262,714 1,341.571 Creditors: amounts falling due wlthin one year 13 75,676 90,008 Net current assetsl{Ilabllltles) 1,240,972 1,251,563 Total net assots 4,491,669 4,503.144 The funds of the charlty. Restricted funds Unrestricled funds Revaluation r8s8rve 18 16 25,433 1,293,830 3,172,406 54.587 1.276,151 3,172,406 Total charltyfunds 22 4,491,669 4,503,144 The flnanclal statements ware approved by the Board of Trustees on l￿AOF￿a025 and slgned on Its behalf by: ames ughesdon The notes on pagés 10 to 16 fomj part of these accounts. Page 6

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington IA Parochial Church Councll registered as a charlty, number: 1131900) Statement of Cash Flows for the year ended 31 December 2024 Notes 2024 2023 Cash flows from operatlng actlvltles: Net cash provided byl{used inl operating adivities (88,224 767.718 Cash flows from invosting act•vities: Dividends, interest and rents from investments 56,736 6.470 Net cash provlded byllused In) investing actlvltles 56,736 6.470 Chango In cash and cash equlvalents In thg roportlng perlod Cash and cash equlvalents at the beglnnlng of the reportlng perlod Cash and cash equivalenls at Ihe end of the reportlng parlod (31,488) 774,188 1,262,714 1,231,226 488,526 1,262,714 es lo the Cash Flow Statement 2024 2023 1) Roconclllatlon of not Incomo1(expendlture) lo net cash flow from operatlng actlvlties Net incomèl{expendilure) for th8 reporting perfod (as p8r the statement of flnancial activities) (11,475) 769.212 Adjustments for: Depreciation charges Dividends, interest and rents from investments (Incr8ase)Idecrease in debtors Increasèl{decreasel in creditors 884 {56,736) 16,565) (14,332) 884 (6,470) (50,978) 55,068 Net cash provided byllused in) oporatlng actlvitlos 88,224 767,718 2024 2023 21 Analysls of cash and cash equlvalents Cash in hand 1,231,226 1,262,714 Total cash and cash equlvalents 1,231,226 1,262,714 Page 7

Parochial Church Council of the Ecclesiastical Parish of St Mary. Islington (A Parochlal Church Council registered as a charlty, number: 1131900) Accounting Policies for the year ended 31 December 2024 Basis of preparation The financial statements have been prepared in accordance with: a) Applicable UK accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021,. b) Accounling and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) leffectiV8 1 January 2015) - (Charities SORP FRS 102)., c) the Charities Act 2011. Publlc benefit entity The charity meets the definition of a public benefit enlity under FRS 102. Golng concern The trustees consider that there are no materlal un¢ertainlies about the charity's abllily to continue to operate and accordingly the accounts have been prepared on a going concern basis. Income rocognltlon Voluntary Income and donations (including legacies} are accounted for once the PCC has entitlement to the income, it is probable the income will be feceived and the amount of income receivable can b8 réliably measurad. Income from thè recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is r&ceived. Grant income is recognised on a receivable basis. The Income from gengraling funds Includes rental income from the letting of church premises, and Income from the operation of a preschool and holiday play sch8mes. Both are accounted for when earned and are shown gross, with the associated costs included in 8xpendilur8 on raising funds. Interest on funds held on deposit is included when receivable and th8 amount can b8 measured reliably by the charlty; thls Is nom)ally upon notification of the interest paid or payable by the bank. All other income ie recognised when it is receivable. Expendlturè recognltlon Exp8ndilure is accru9d as soon as a liabiltty Is considered probable, and thè amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditur8, includes VAT where appropriate. Expenditure Included in Ralslng Funds includes amounts incurred In obtsining grants and other donations and propety maintenanc8 costs. Charilablo expenditure includes those costs expended in fulfilling the PCC'S principal objects, as outlinèd in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs. Grants payable are payments made to third parties in furtherancè of the PCC'S objects. In the case of an unconditional grant off8r this is accrued once the recipient has baen notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to th6 recipient fulfilling performance conditions are only accrued when the recipient has been nolif18d of the grant and any r8maining unfulfill8d conditlon attaching to that grant Is outside of the control ofthe PCC. Governance costs comprise all costs involving the public accountability of Ihe PCC and its compliance with regulatlon and good practice. These costs include costs related to the audit and legal fees. Rentals under operating leases arè charged as incurred over the lerm of the lease. The diocesan parish contribution is accounted for when paid. Any parish contibution unpaid at 31 December would bè provided for in these accounts as an operational (though not a legal) liability and sh¢)wn as a credilor in the balance sheet. Deferred income Income received which is contractually or otherwise not expendable until a future period is deferred to the period in which it meets the criteria for income recognition. Reslricted Funds Restricted funds are to be used for specified purposes as laid down by the funder. Direct and support expenditure whlch meets these criteria are identrfied to the fund logether wilh a fair allocation of other costs. Page 8

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochial Church Council registered as a charity, number: 1131900 Accounting Policies for the year ended 31 December 2024 Unrestricted Funds Unrestricted funds are funds received which have no restrictions placèd on their use and are available as general funds. Deslgnated Funds Designated funds are unrestrictéd funds eamiarked by the trustees for particular purposes. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Penslons The charity operates defined contribution schemes which are administered by outside indepandent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activilies. Tanglble Flxed Assets Tangible fixed ass8ts are stated at cost less d6precialSon. Depreciation is provided 8t the following annual rates in order to write off each asset over its estimated useful life. Flxtures & fittlngs Computer equipment - 25 /0 on cost - 33Yo on cost Items of equlpment are only capitalised where thè pur¢hase price exceeds £3.000. No depreciation is provided on freghold property as It Is the PCC'S policy to malntain these ass8ts in a continual state of sound repair. The useful economic life of thes8 ass8ts is so long and residual values so high that any depreciation would nol be material. These ass8ts will be subject to annual impaimient reviews. Provision will be made If there has been any p8manent diminution in valu8. A pollcy of revaluation has been adopted for the church's functional property, which is the Nelghbourhood Centr8. Fomial valuations are obtained every five years and advlce as to material movements in property values Is obtsined in the pèriod be￿een fom81 valuations. Consecr8t8d Property 8nd Moveable Church Fumlshings Consecrated land and b8nefice propety such as the church building and vlcarage is excluded froffl the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal. They are accounted for as inalienable property unless consecraled. All expenditure incurred on consecrated or benefice buildings and moveable Ghurch furnishings, whether maintenance or improvement, is expressed within the Statement of Flnanclal Activities. Investments Investments are shown in the balance sh8et at closing market value. Surpluses or deficlts on velualion are credited or charged to the statement of financial activities. Pagg 9

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll reglslered as a charlty, number: 1131900) Notes to the Accounts for the year ended 31 December 2024 1 Incomlng resources The incoming resources and surplus are attributablè to the principal activities of the charity. 2 Net outgoing resources Net outgoing resourG8S are stated aftercharging." Audilors fe8s - audit services Depreciation - owned assets 2024 2023 10,250 884 10,250 884 Trusteos. emolumonts Emoluments include salaries, feès. bonuses, expense allowances and esllmated non-¢ash benefits receivable. All trustees s8Ne In a voluntary capacity and do not receive payment for their services. APB Ethical Standard - Provlslons available for small entities In common with many other charities of our size and nature we use our auditors to assist with the pr8par8tion of the financial statements and to provide advice relating to statutory and regulatory compliance. 2024 Total 2023 Total 3 Income from donatlons and legacles Unreslflct8d Restrlcted Planned giving Collections at services Other donations and appeals Gift aid recoverable Grants 104 VOLUNTARY INCOME:Legacy income 82,267 11,208 42,895 23,779 11,817 58,373 230 339 82,267 11,208 46,842 23,854 37,317 58,373 259 861 84,769 11,152 51,012 25,321 4,700 934.730 1,111684 3,947 75 25,500 2024 Total 2023 Total 4 Incomè from church activitlos Unrostrlcted Restrlcted F88s for weddings and funerals 2,481 2,481 2,799 2024 Total 2023 Total 5 Income from generatlng funds Unrestrlctèd Restrlcted Lettings Children's SeThices - Preschool and Playschemes Fundraising events 361.209 278.558 3.422 643,189 361,209 278,558 3,422 643,189 267,384 192,320 2,325 462,029 2024 Total 2023 Total 6 Income from Investments Unrestrlcted Reslflcted Interest receivable 56.736 56,736 56,736 6,470 6,470 2024 Total 2023 Total Other Income Unrestrlcted Restrlcted Solar panels - Feed in Tariff receipts Olher income 9.430 3,670 13,100 9,430 3,670 13.100 10,037 21,208 31,245 Page 10

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochial Church Council registered as a charity, number: 1131900) Notes to the Accounts for the year ended 310ecember 2024 2024 Total 2023 Total 8 Expendlturo on ralsing funds Unrestrlcted Restrlct8d Lettings- Salary and expenses Children's Services preschool - Salary and expenses Fundraising events 350,647 251,308 5,963 607,918 350,647 251.308 5,963 607 918 252.668 175.167 5,050 432,885 2024 Total 2023 Total 9 Expendtturo on church activlti08 Unrestrlcted Restrlcted St Mary's Mission Partners Home mission Diocesan Common Fund Music Ministry Children's Ministry Utilities Insurance Cleaning and malntenance Clergy working expènses Curates, housing Upkaep of services Parish communication, w8bslte and publlcity Training and retreats Parish office staff costs Other parish offic8 costs Bad Debt wrile-offs Depreciation charge Mary's Transition costs Legal and professional fees Govemance costs - Audlt fees Govemanc8 costs - other 17,010 600 17.610 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 8,309 580 884 59,634 15,886 10,250 100,430 25,901 42,331 17,594 10,588 31.679 3.608 25,895 9,031 3,034 1.613 54,894 9.473 100,430 25,901 47.739 17,594 10,588 34,762 3,606 25,895 9,131 3,061 1.613 54,894 10,017 5,408 3,083 100 27 544 884 884 1,281 10,250 1,325 366819 2.343 3,624 10,250 1,325 378,924 412 130 10 Staff cost8 2024 2023 Staff salaries Staff social security Staff pensions 439,820 26,350 35,340 501,510 367,225 18,383 27,883 413,491 Average number of employees during the yearw8S: 25 19 No remuneration was paid to any Trustee or their associates for services as a tru5tea during the year ended 31 Dec8mber 2024 nor to 31 December 2023. Employees paid in excess of £60,000 during the current year and previous yoar. None None Page11

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll reglslered as a charity, number: 1131900) Notes to the Accounts for the year endad 31 December 2024 Nolghlx*urhood Centrè Computer equipment 11 Tanglble fixed assets Total Cosl As at 1 January 2024 3.250,000 80.581 3.330,581 As at 31 December 2024 3,250,000 3,330 $81 Depreclation As at 1 January 2024 Charge for the year 79,000 884 79,000 884 As at 31 December 2024 79.884 79,884 Net book value As at 31 December 2024 3,250.000 697 3,250,697 As at 31 December 2023 3,250.000 1,581 3,251,581 The Neighbourhood Centre Is vested in the London Diocèsan Fund on b8half of the PCC. Its market value, subject to the existing tenancy, was deterrnind as £3.25 million, to include the first floor flat. by Strettons Chartered Surveyors and Valuers in March 2022. The r8valuation reserve represents the difference between th8 curr8nl valuation of the Neighbourhood Centre and its orlginal cost. As JLlu￿1￿r.reD[ÉS£[￿ed.b¥ I&availabl￿eX0endi1ut￿bV the P.CC_....--__ 12 D8btor8: amounts falling duo within one year 2024 2023 Trade debtors Other debtors Gift aid recoverable Prepayments Accrued income 29,138 3,947 5,327 29,619 17.391 85,422 19,967 2,189 21,546 27,350 7.805 78,857 13 Credltors: amounts falllng duawlthln one year 2024 2023 Trade creditors Other creditors PAYE liabilily Pensions liability Accrued expenses Deferred income Deposits held 19.925 1,924 7,570 25,537 1,774 7,413 2,574 20,351 27,279 5,080 90.008 19,994 21,343 4,920 75,676 Openlng balanca Resources arlslng Rèsourcès utilised Other movements Closing balance 14 The funds of the charlty: currant year Restricted funds Restricted income funds Unrestricted fund Designated funds General funds Revaluation reserve Total unreslricted fund$ 54,587 29,522 (12.105) (46,571) 25,433 949,687 326,464 3.172,406 53,892 891,953 (38,256) (936,481) 36.654 9.917 1,001,977 291,853 3,172.406 66, 6,57 4,503,144 975,367 (986,842) 4,491,669 Page 12

Paroch4al Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Council reglstered as a charlty, number: 1131900) Notes to the Accounts for the year ended 31 December 2024 Openlng Resources balance arlslng Resources utlllsed Other movements Closing balanco 1 S The funds of the charlty. prlor year estriGted fund8 Restricted income funds nr8Stricted lunds Designaled funds General funds Revaluation reserve Total unrestriGted funds 102.584 3,906 (54.903) 3,000 54,587 33,821 425,121 3.172,406 3.631,348 950,530 659,791 (88.215) {701,897} 53,551 (56,551) 949,687 326,464 3,172,406 4,448,557 1.610.321 (790.112} {3,000) 3.733,932 1,614.227 {845,015} 4,503,144 Openlng balan¢è Resources ari8lng Rosource8 utllised Translers & adlustmants Closing balance 16 Deslgnated funds: current year Fabric fund Transition fund Kathleen Read legacy fund Climate Garden project Denise Antenen legacy fund Vicarage Decoration fund 5,240 11.417 933,030 1,830 3,410 (11,417) (40,000) 40,000 42,933 5,138 36.654 53,892 14,090 7,839 14,497 932,832 32,161 28,436 5,138 1,001,977 949,687 53,892 38,256 Opening balanc8 Rosources arl8lng Rosour¢es utlllsed Transfers & adJu8tmonts Closing balanco 17 Deslgnated funds: prfor ￿ar Fabrlc fund Transition fund Kathleen Read legacy fund 33,821 28,581 59,634 5,240 11,417 933,030 949,687 17,500 933,030 950,530 53,551 33,821 88,215 53,551 Fabrlc fund Set aside by the i>CC for refurbishmenl to Ihe fabric of the church. A fund established to cover the costs of Ihe transition of seNices from Ihe charity St Mary Islinglon Community Partnership to St Marfs in April 2023. The transition having been successfully completed, the PCC agreed to transfer the balance of £11,267 back lo General Funds in 2024. A legacy from the late Kathleen Read. A final amount of £53,892 was received in respect of this legacy during 2024. The legacy was given without restrictions, to be allocated by the PCC towards specific projects as needs are identified. During 2024, the PCC agreed to allocate £40,000 towards Ihe Climate Garden Project (see below) and an exp6nditure of £14,000 on refurbishment of the storage area for Ihe Preschool. The PCC also agreed to designate £135,000 from the legacy to allow the recruitment of a Children and Families Minister and to provide ongoing support for that role. In early 2024, the PCC agreed to allocate £40,000 from the Kathleen Read legacy fund to support a five-y8ar plan for the Churchyard. The aim is to improve biodiversity and support st Mary's mission stralegy of becoming a regional leader in care for creation and eco-justice. The fund will support the cost of a gardener- the development of a wild-flower meadow for the interment of ashes and support towards the creation of a "dry garden. in a neglected area of the south garden. This was given without restridions, but Ihe executors indicated four'areas favoured by Denise Antenen on an advisory basis.. Expènditur8 in 2024 continued to be in support of classical Music. including a series of well4eceived monthly lunchtime Con￿rtS. The PCC is responsible for setting aside an annual sum of money to ensure the Vicarage is kept in good decorative order. Transltlon fund Kathleen Read legacy fund Climate Garden project Deniso Antenon legacy fund Vicarage Decoration fund Page 13

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington {A Parochlal Church Councll roglslored as a charity, number: 1131900) Notes to the Accounts for tho yèar ondod 31 December 2024 Openlng balance In¢oming resources Resources Transfers & expended galnsl{losses) Closlng balance 18 Restrictsd funds: current period Crypt Secondary Glazing Fund Children's Ministry Denise Anlenen Legacy Discretionary fvnd Flower fund Music Fund Monday Fellowship Retreat fund Vicarage Decoration fund 25,500 417 5,427 5,408 20,073 4,991 42.933 1,373 (42,933) 375 100 3.000 130 600 100 1,148 3,000 547 664 988 864 3,638 54,587 571 3,638 {46,5711 29,522 12,105 25,433 Op8nlng balance Incomlng resources Re80urces Transfers & expended galnsl(losses) Closlng balance 19 Restrl¢ted funds: prlor porlod Children's Ministry Denise Antenen Legacy Discretionary fund Flower fund Monday Fellowshlp Retreat fund Vlcarage Decoration fund 48,057 50.347 1.298 45 1,338 861 638 102,584 1,831 1,700 375 44,897 9,114 300 45 350 197 4,991 42.933 1,373 988 664 3,638 54,587 3,000 3,000 3,906 54,903 Restrlcted funds (contlnuad) Projects financed by restricted funds are support8d by unrestricted funding where necessary. Thls occurs where the funding is In arrears or the incidence of expenditure on the project occurs disproportionalely at tha beginning of the project compared to the income flows. Where restricted projects end the year with a deficit, this is mel by after year4nd restricted income or transfers from unrestricted funds. Name of Rostricted Fund Crypl Socondary Glazing Fund Purposo of rastricted fund. Sl Mary's received a generous grant of £25,500 from the Cloudesley Foundation in 2024 to cover the cost of installing secondary glazing in the crypt. The first phase of this project has been completed in January 2025 and the project is expècted to finish in the first half of 2025. A fvnd established to meet the cosls of employing a Youth Minister. The balance of this iiind was utilised early in 2024, after which the remaining ongoing expenditure was covered by the PCC'S general funds. This was given without restrictions, bul the executots indicated four 'areas favoured by Denise Antenen on an advisory basis.. Exp8nditure in 2024 continued to bè in support of classical music, including a series of well-received monthly lunchtimè concerts. In previous years this fund has b88n incorrectly stated as restricled fund instead of designated fund. This has now be8n rectified and now the fund is shown as part of the designated funds. A fund to be used at Ihe church wardens, discretion, lo help people in financial crisis. A fund established to collect donations made specifically for the provision of floral arrangèments in church. A donation of £3,000 was received in 2024 to support the next series of lunchtime concerts at the Church. A restricted fund has been established to hold this and any future donations in support of classical music. A fund to provide friendship and refreshm8nts for the congregation and general public. To be applied lo rotreals and similar events. The PCC is responsible for setting aside an annual sum of money to ensure the Vicarage is kept in good decorative order. In previous years this fund has been incorrectly Stated as restricted fund instead of designated fund. This has now been recllfied and now the fund is shown as part of the designaled funds. Chlldrèn's Mlnlgtry Denlse Antenen Legacy Dlscretionaryfund Flower fund Muslc Fund Monday Fellowship Rotrgat fund Vicarago Decoration fund Page 14

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Council registered as a charfty, number". 1131900) Notes to the Accounts for the year ended 31 December 2024 General Designated funds funds 9,917 19,917) Restricted funds Rovaluation reservo 20 Transfers between funds: current perlod General to designated Restricted to designated Total 9,917 36,654 146,571) General Designated funds funds (3,000) Restrlcted funds 3.000 Endowment funds 21 Transfers between funds: prlor perlod General to restricted General to designated Total 53.551 53,551 {56,5511 3,000 General Deslgnated funds funds Restricted funds Rèvaluation reserve 22 Not assets attributable to funds: current period Total Tangible fixed assets Current assets Current liabilities Nel assets represent8d by funds 78,291 289,238 75,676 291,853 3,172,406 3,250,697 1,316,648 75,676 4,491.669 1,001.977 25,433 1,001,977 25,433 3,172,406 General Deslgnated fund8 funds Restrlctod funds Revaluatlon reservè 23 Net assels attrfbutable to funds: prlor perlod Total Tanglble fixed ass8ts Current assets Current liabilities Net assets represented by funds 79,175 337,297 190,008 326,464 3,172,406 3,251,581 1,341,571 190,008 4,503,144 949.687 54,587 9,687 54,587 3,172,406 24 Taxation The PCC is a registered ch8rity. Accordlngly, it is exempt from taxation in respect of incom8 and capital gains to th8 8Xtent that these are applied to its charitable objects. 25 Post balance sheet events There were no significant post balance sheét events. 26 Penslon commltments The charity contributes to employee defined contrlbulion (DC) euto enrolment pension 8chem8s. The assets of th8 schémes are held s8parately from those of the charity in ind8P8ndently administered funds. 2024 2023 2,574 The unpaid contributlons outstanding at the year end were: 27 Contingent liabilltles The charity had no material conting8nl liabilities at 31 December 2024 nor at 31 De￿mber 2023. Page 15

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochial Church Councll reglslered as a ¢harlty, number: 1131900) Notes to the Accounts for the year ended 31 December 2024 28 Transltion from Matys On 1 January 2009, the community activities of the PCC were commissioned to a separate registered charity. called St Mary Islington Community Partnership and rebranded during 2014 as"Mary's". Under the terms ofa lease and licence agreement entered into in April 2013, Mary's paid rent of £Nil in 202412023.. £18,750) and received a discretionary grant from St Mary's of £13,750 {2024- nill. The transition of the community activities back to St Mary's took place on 1 st April 2023 and 2024 represents Ihe first full year of the new structure. Mary's Youth Club continues to use the facilities of the Neighbourhood Centre and Crypt at a preferential rate. 29 Transactions wlth trusteeslPCC m8mb8rs During the year the lolal amount aggregate donations made by PCC members. their close family members and business associates amounted to £45,518 {2023: £51.377). During the year thre8 (2023.. thre8) trustees wer8 r8imbursed a total of £2,339 {2023.' £2.2271 for 8XP8ns8s incurred on behalf of th8 charity. 30 Glfts In klnd and volunteers During the year the charity ben8fited from unpald worf¢ pèrfomied by volunteers. Page 16

Charfty number.. 1131900 Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll reglstered as a charlty, number: 1131900) Financial Statements and Trustees. Report for the year ended 31 December 2024

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Council reglstered as a charity, numbor: 1131900) Statement of Trustees. Responsibilities for the year ended 31 December 2024 The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Praclicel. The trustees are required by law to prepare financial statements for each financial period which give a true and fair vl8w of the financial activities of the charity and of its financial position at th6 end of that period. In preparing those financial stalements the trustees are required to.. a} Select suilable accounting policies and apply them consistently. b) Observ8 the methods and principles in the Charities SORP; c) Make judgements and estimates that are reasonable and prudenl", d) Follow applicable accounting standards and statements of recommended practice. subject to any material departures disclosed and explained in the accounts., e) Prepare the financial ststements on the going conGern basis unlèss it is inappropriate to assume that the charity will continue in operation. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that th8 financial statements comply with Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the goveming document. They are also responsible for safeguarding the assèts of the charity and hence for taking reasonable steps for the prevention and detèclion of fraud and other irregularities. Page 2

PJ< foGhial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll registered as a charlty, number: 1131900) Independent Auditor's Report to the Trustees of Parochial Church Councll of the Ecclesiastical Parlsh of St Mary, Islington We have audited the financial statements of Parochial Church Council of the Ecclesiaslical Parish of St Mary, Islington for the year ended 31 December 2024 which comprise the Statement of Financial Activities, Statement of Financial Postion, Staternent of Cash Flows and the Notes to the Accounts to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Slandard applicable in the UK and Republic of Ireland, (United Kingdom Gan8rally Accepted Accounting Practice). Opinion on financlal statements In our opinion the financial slalements.. give a Irue and fair view of the slate of the charity's affalrs as at 31 December 2024 and of Its Incoming resources and application of resources, including its income and expenditure, for the year Ihen ended: hav8 been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prdctice; and have begn prèpared in accordance with the requir8ments of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Stsndards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Elhical Standard, and the provisions available for small entities. in the circumstanc8s set out in Note 2 to the financial statoments. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believé that th8 audit evidence wè have obtained is sufficient and appropriate to provide a basis for our opinion. Con¢lusion8 rélatlng to going concern In auditing the financial statements, we have concludèd that the trustees, use of th8 golng conc8rn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performèd, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements arè authorlsed for Issue. Our responsibilities and the responsibiliti88 of th8 trustees with respèct lo golng concem are described in the relevanl s8Ctlons of this report. Other Informatlon The trustees are responsible for the other information. The other information compri56S the information In the trustees, report, but does not include the financial ststemenls and our Report of the Auditors thereon. Our opinion on the financial slatements does not COV8r Ihe other information and we do not express any fomi of assurance conclusion thereon. In conneclion with our audit of the financial statements, our responsibility is to read the other information and, in doing so. consider whether Ihe other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially mis5lated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to r8POrt that fact. We have nothing to report in this regard. Matters on whlch wo are r8qulred to report by exceptlon In the light of the knowledge and understanding of the charity and its environment oblained in the course of the audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion- adequate and proper accounting records have not been kepl, or retums adequate for our audit have not b88n received from branches not visited by us. or the financial statements are not in agreement wth the accounting records and retums. or certain disclosures of Trustees. remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the Trustees were not entitled to prepare the financial ststements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees report and from the requirement to prepare a strategic report. Page 3

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll regislered as a charity, number- 1131900) Independent Auditorfs Report to the Trustees of Parochlal Church Council of the Ecclesiastical Parish of St Mary, Islington Rosponsiblllties ol trustees As explained rnore fully in the statement of trustees. responsibilities set out on paga 2. the tnjstees are responsible for tho preparation of the financial statements and for being satisfied that Ihey give a true and fair view, and for such intemal control as the trustees detèrmine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing th8 charivs ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going con￿rn basis of accounting unless the trustees eith8r intend lo liquidate the charity or to cease operations, or have no realistic alternative but to do so. Our responslbllltles for the audll of th6 financlal ststemenls Our objectives are to obtsin reasonable assurance about whether the flnancial statements as a whole are free from malerlal misstatemènt, whether due to fraud or error, and to issue an audilofs report that includes our opinion. Reasonable assurance is a high lev81 of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when it exists. Misslatemenls can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be exp8Cted to influence the economic decisions of users taken on the basis of these financial statements, Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in Ilne with our responsibilities. outlined above, lo delect material misstatements in respect of irregularities, inGluding fraud. Th6 extent lo which our procedures are capabl8 of detecting irregularities, Including fraud is detailed below: We identified the legal and regulatory frameworks that are applicable to the entity and detemiined that the most significant are those that relate to the specific business environment in which they op8rate, the reporting requirements they are obliged to adh8rè to and other legal and regulatory requirements applicable to operating 8nlities in general. These includ8 the Charities Act 2011. FRS 102, the Charities SORP and GDPR legislation. The charitable company operat8S locally and is not significantly Smpacted by Internatlonal law or regulations. Taxallon law and regulations applicable to charities also apply to the charity but It is not Involved In any complex matters that increase Ihe rfsk of non-compliance. Each area of audit review includès in th6 audit documentation reference lo pot8ntial non-compliance and awareness of potentlal non-compliance is embedded in our audit procedures. W8 assessed the risks of material misslalement in respect of fraud by enquiry of management, review of the charivs operations and direct review of significant and material transactions, including all non-standard or irregular journal adjuslmenls. Our understanding of the organisation enables us to undèrstand and identify transactions or areas that appear lo present a risk of fraud. None were detected. Our pre-audit questionnaire specifically makes enquires about fraud and this is supported by audit documentation. We also review Board minutes to identify any matters of concem or risk. None was identified. The audit was conducted by a very experienced auditor who has a good knowiedg6 of the client and no other assistance or support was required. The charity is small, its activities are regular and consistent and are nol ¢ompl8x and no special audit considerations apply, nor Is ext8rnal specialist assistanc8 required. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's webslte at www.frc.or .uklauditorsroS onslbllltles. This description forms part of our Report of the Auditors. Use of our report This report is made solely to the charilys trustees as a body, in accordance wilh Part 4 of the Charities (Accounts and reports) Regulations 2008. Our audit work has been undertakén so that we might slate to the charity's trustees those matters we are required to slate to them in an auditors report and for no other purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit y￿rk, for this report, or for the opinions we have for Armstrong & Co, Statutory Auditor CharteredAccountants & Statuto Auditor 4a Prlntlng House Yard Hackney Road London E2 7PR Dated: *thlaHrh 2025 Page 4

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington IA Parochial Church Council reglstered as a charity, number: 1131900} Statement of Financial Activities for the year ended 31 December 2024 2024 2023 Unrestrict8d Funds Restricted Funds Total Fund$ Total Funds Notès Incomo from: Donations and legacies Church activities Generating funds Investments Other In¢ome 230,339 2,481 643,189 56.736 13,100 29,522 259,861 2.481 643,189 56,736 13,100 1,111,684 2,799 462,029 6,470 31,245 Totsl In¢om8 945,845 29,522 975,367 1,614,227 Expendlture on: Raising funds Church activities 607.918 366,819 607.918 378,924 432,885 412,130 12,105 Total expendltur 974,737 12,105 986,842 845,015 Net Incomel(expendlturg) and movemont In fund8 (28,892) 17,417 (11,475) 769.212 Transfers between funds 20 46.571 (46,571) Net movement In fund8 17,679 (29.154 (11,475) 769,212 Reconclllatlon of funds: Total funds brought foNard 14 4,448,557 54,587 4,503,144 3.733,932 Total funds oarrled for¥Yard 14 4.466,236 25,433 4,491,669 4,503,144 All incoming resources and resources expended are derived from continulng activities. The accompanying accounting policies and notes form an integral part of these financial statements. Page 5

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll registered as a charity, number: 1131900) Statement of Financial Postion as at 31 December 2024 31 Decefflber 2024 31 December 2023 Not88 Flxed assets: Tangible assets Total flxed assets 11 3,250,697 3.251,581 3,251,581 3,250,697 Current assgts: Debtors Cash at bank and In hand Total current assots 12 11 85,422 1.231,226 1.316,648 78,857 1,262,714 1,341.571 Creditors: amounts falling due wlthin one year 13 75,676 90,008 Net current assetsl{Ilabllltles) 1,240,972 1,251,563 Total net assots 4,491,669 4,503.144 The funds of the charlty. Restricted funds Unrestricled funds Revaluation r8s8rve 18 16 25,433 1,293,830 3,172,406 54.587 1.276,151 3,172,406 Total charltyfunds 22 4,491,669 4,503,144 The flnanclal statements ware approved by the Board of Trustees on l￿AOF￿a025 and slgned on Its behalf by: ames ughesdon The notes on pagés 10 to 16 fomj part of these accounts. Page 6

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington IA Parochial Church Councll registered as a charlty, number: 1131900) Statement of Cash Flows for the year ended 31 December 2024 Notes 2024 2023 Cash flows from operatlng actlvltles: Net cash provided byl{used inl operating adivities (88,224 767.718 Cash flows from invosting act•vities: Dividends, interest and rents from investments 56,736 6.470 Net cash provlded byllused In) investing actlvltles 56,736 6.470 Chango In cash and cash equlvalents In thg roportlng perlod Cash and cash equlvalents at the beglnnlng of the reportlng perlod Cash and cash equivalenls at Ihe end of the reportlng parlod (31,488) 774,188 1,262,714 1,231,226 488,526 1,262,714 es lo the Cash Flow Statement 2024 2023 1) Roconclllatlon of not Incomo1(expendlture) lo net cash flow from operatlng actlvlties Net incomèl{expendilure) for th8 reporting perfod (as p8r the statement of flnancial activities) (11,475) 769.212 Adjustments for: Depreciation charges Dividends, interest and rents from investments (Incr8ase)Idecrease in debtors Increasèl{decreasel in creditors 884 {56,736) 16,565) (14,332) 884 (6,470) (50,978) 55,068 Net cash provided byllused in) oporatlng actlvitlos 88,224 767,718 2024 2023 21 Analysls of cash and cash equlvalents Cash in hand 1,231,226 1,262,714 Total cash and cash equlvalents 1,231,226 1,262,714 Page 7

Parochial Church Council of the Ecclesiastical Parish of St Mary. Islington (A Parochlal Church Council registered as a charlty, number: 1131900) Accounting Policies for the year ended 31 December 2024 Basis of preparation The financial statements have been prepared in accordance with: a) Applicable UK accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021,. b) Accounling and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) leffectiV8 1 January 2015) - (Charities SORP FRS 102)., c) the Charities Act 2011. Publlc benefit entity The charity meets the definition of a public benefit enlity under FRS 102. Golng concern The trustees consider that there are no materlal un¢ertainlies about the charity's abllily to continue to operate and accordingly the accounts have been prepared on a going concern basis. Income rocognltlon Voluntary Income and donations (including legacies} are accounted for once the PCC has entitlement to the income, it is probable the income will be feceived and the amount of income receivable can b8 réliably measurad. Income from thè recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is r&ceived. Grant income is recognised on a receivable basis. The Income from gengraling funds Includes rental income from the letting of church premises, and Income from the operation of a preschool and holiday play sch8mes. Both are accounted for when earned and are shown gross, with the associated costs included in 8xpendilur8 on raising funds. Interest on funds held on deposit is included when receivable and th8 amount can b8 measured reliably by the charlty; thls Is nom)ally upon notification of the interest paid or payable by the bank. All other income ie recognised when it is receivable. Expendlturè recognltlon Exp8ndilure is accru9d as soon as a liabiltty Is considered probable, and thè amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditur8, includes VAT where appropriate. Expenditure Included in Ralslng Funds includes amounts incurred In obtsining grants and other donations and propety maintenanc8 costs. Charilablo expenditure includes those costs expended in fulfilling the PCC'S principal objects, as outlinèd in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs. Grants payable are payments made to third parties in furtherancè of the PCC'S objects. In the case of an unconditional grant off8r this is accrued once the recipient has baen notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to th6 recipient fulfilling performance conditions are only accrued when the recipient has been nolif18d of the grant and any r8maining unfulfill8d conditlon attaching to that grant Is outside of the control ofthe PCC. Governance costs comprise all costs involving the public accountability of Ihe PCC and its compliance with regulatlon and good practice. These costs include costs related to the audit and legal fees. Rentals under operating leases arè charged as incurred over the lerm of the lease. The diocesan parish contribution is accounted for when paid. Any parish contibution unpaid at 31 December would bè provided for in these accounts as an operational (though not a legal) liability and sh¢)wn as a credilor in the balance sheet. Deferred income Income received which is contractually or otherwise not expendable until a future period is deferred to the period in which it meets the criteria for income recognition. Reslricted Funds Restricted funds are to be used for specified purposes as laid down by the funder. Direct and support expenditure whlch meets these criteria are identrfied to the fund logether wilh a fair allocation of other costs. Page 8

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochial Church Council registered as a charity, number: 1131900 Accounting Policies for the year ended 31 December 2024 Unrestricted Funds Unrestricted funds are funds received which have no restrictions placèd on their use and are available as general funds. Deslgnated Funds Designated funds are unrestrictéd funds eamiarked by the trustees for particular purposes. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Penslons The charity operates defined contribution schemes which are administered by outside indepandent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activilies. Tanglble Flxed Assets Tangible fixed ass8ts are stated at cost less d6precialSon. Depreciation is provided 8t the following annual rates in order to write off each asset over its estimated useful life. Flxtures & fittlngs Computer equipment - 25 /0 on cost - 33Yo on cost Items of equlpment are only capitalised where thè pur¢hase price exceeds £3.000. No depreciation is provided on freghold property as It Is the PCC'S policy to malntain these ass8ts in a continual state of sound repair. The useful economic life of thes8 ass8ts is so long and residual values so high that any depreciation would nol be material. These ass8ts will be subject to annual impaimient reviews. Provision will be made If there has been any p8manent diminution in valu8. A pollcy of revaluation has been adopted for the church's functional property, which is the Nelghbourhood Centr8. Fomial valuations are obtained every five years and advlce as to material movements in property values Is obtsined in the pèriod be￿een fom81 valuations. Consecr8t8d Property 8nd Moveable Church Fumlshings Consecrated land and b8nefice propety such as the church building and vlcarage is excluded froffl the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal. They are accounted for as inalienable property unless consecraled. All expenditure incurred on consecrated or benefice buildings and moveable Ghurch furnishings, whether maintenance or improvement, is expressed within the Statement of Flnanclal Activities. Investments Investments are shown in the balance sh8et at closing market value. Surpluses or deficlts on velualion are credited or charged to the statement of financial activities. Pagg 9

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll reglslered as a charlty, number: 1131900) Notes to the Accounts for the year ended 31 December 2024 1 Incomlng resources The incoming resources and surplus are attributablè to the principal activities of the charity. 2 Net outgoing resources Net outgoing resourG8S are stated aftercharging." Audilors fe8s - audit services Depreciation - owned assets 2024 2023 10,250 884 10,250 884 Trusteos. emolumonts Emoluments include salaries, feès. bonuses, expense allowances and esllmated non-¢ash benefits receivable. All trustees s8Ne In a voluntary capacity and do not receive payment for their services. APB Ethical Standard - Provlslons available for small entities In common with many other charities of our size and nature we use our auditors to assist with the pr8par8tion of the financial statements and to provide advice relating to statutory and regulatory compliance. 2024 Total 2023 Total 3 Income from donatlons and legacles Unreslflct8d Restrlcted Planned giving Collections at services Other donations and appeals Gift aid recoverable Grants 104 VOLUNTARY INCOME:Legacy income 82,267 11,208 42,895 23,779 11,817 58,373 230 339 82,267 11,208 46,842 23,854 37,317 58,373 259 861 84,769 11,152 51,012 25,321 4,700 934.730 1,111684 3,947 75 25,500 2024 Total 2023 Total 4 Incomè from church activitlos Unrostrlcted Restrlcted F88s for weddings and funerals 2,481 2,481 2,799 2024 Total 2023 Total 5 Income from generatlng funds Unrestrlctèd Restrlcted Lettings Children's SeThices - Preschool and Playschemes Fundraising events 361.209 278.558 3.422 643,189 361,209 278,558 3,422 643,189 267,384 192,320 2,325 462,029 2024 Total 2023 Total 6 Income from Investments Unrestrlcted Reslflcted Interest receivable 56.736 56,736 56,736 6,470 6,470 2024 Total 2023 Total Other Income Unrestrlcted Restrlcted Solar panels - Feed in Tariff receipts Olher income 9.430 3,670 13,100 9,430 3,670 13.100 10,037 21,208 31,245 Page 10

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochial Church Council registered as a charity, number: 1131900) Notes to the Accounts for the year ended 310ecember 2024 2024 Total 2023 Total 8 Expendlturo on ralsing funds Unrestrlcted Restrlct8d Lettings- Salary and expenses Children's Services preschool - Salary and expenses Fundraising events 350,647 251,308 5,963 607,918 350,647 251.308 5,963 607 918 252.668 175.167 5,050 432,885 2024 Total 2023 Total 9 Expendtturo on church activlti08 Unrestrlcted Restrlcted St Mary's Mission Partners Home mission Diocesan Common Fund Music Ministry Children's Ministry Utilities Insurance Cleaning and malntenance Clergy working expènses Curates, housing Upkaep of services Parish communication, w8bslte and publlcity Training and retreats Parish office staff costs Other parish offic8 costs Bad Debt wrile-offs Depreciation charge Mary's Transition costs Legal and professional fees Govemance costs - Audlt fees Govemanc8 costs - other 17,010 600 17.610 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 8,309 580 884 59,634 15,886 10,250 100,430 25,901 42,331 17,594 10,588 31.679 3.608 25,895 9,031 3,034 1.613 54,894 9.473 100,430 25,901 47.739 17,594 10,588 34,762 3,606 25,895 9,131 3,061 1.613 54,894 10,017 5,408 3,083 100 27 544 884 884 1,281 10,250 1,325 366819 2.343 3,624 10,250 1,325 378,924 412 130 10 Staff cost8 2024 2023 Staff salaries Staff social security Staff pensions 439,820 26,350 35,340 501,510 367,225 18,383 27,883 413,491 Average number of employees during the yearw8S: 25 19 No remuneration was paid to any Trustee or their associates for services as a tru5tea during the year ended 31 Dec8mber 2024 nor to 31 December 2023. Employees paid in excess of £60,000 during the current year and previous yoar. None None Page11

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Councll reglslered as a charity, number: 1131900) Notes to the Accounts for the year endad 31 December 2024 Nolghlx*urhood Centrè Computer equipment 11 Tanglble fixed assets Total Cosl As at 1 January 2024 3.250,000 80.581 3.330,581 As at 31 December 2024 3,250,000 3,330 $81 Depreclation As at 1 January 2024 Charge for the year 79,000 884 79,000 884 As at 31 December 2024 79.884 79,884 Net book value As at 31 December 2024 3,250.000 697 3,250,697 As at 31 December 2023 3,250.000 1,581 3,251,581 The Neighbourhood Centre Is vested in the London Diocèsan Fund on b8half of the PCC. Its market value, subject to the existing tenancy, was deterrnind as £3.25 million, to include the first floor flat. by Strettons Chartered Surveyors and Valuers in March 2022. The r8valuation reserve represents the difference between th8 curr8nl valuation of the Neighbourhood Centre and its orlginal cost. As JLlu￿1￿r.reD[ÉS£[￿ed.b¥ I&availabl￿eX0endi1ut￿bV the P.CC_....--__ 12 D8btor8: amounts falling duo within one year 2024 2023 Trade debtors Other debtors Gift aid recoverable Prepayments Accrued income 29,138 3,947 5,327 29,619 17.391 85,422 19,967 2,189 21,546 27,350 7.805 78,857 13 Credltors: amounts falllng duawlthln one year 2024 2023 Trade creditors Other creditors PAYE liabilily Pensions liability Accrued expenses Deferred income Deposits held 19.925 1,924 7,570 25,537 1,774 7,413 2,574 20,351 27,279 5,080 90.008 19,994 21,343 4,920 75,676 Openlng balanca Resources arlslng Rèsourcès utilised Other movements Closing balance 14 The funds of the charlty: currant year Restricted funds Restricted income funds Unrestricted fund Designated funds General funds Revaluation reserve Total unreslricted fund$ 54,587 29,522 (12.105) (46,571) 25,433 949,687 326,464 3.172,406 53,892 891,953 (38,256) (936,481) 36.654 9.917 1,001,977 291,853 3,172.406 66, 6,57 4,503,144 975,367 (986,842) 4,491,669 Page 12

Paroch4al Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Council reglstered as a charlty, number: 1131900) Notes to the Accounts for the year ended 31 December 2024 Openlng Resources balance arlslng Resources utlllsed Other movements Closing balanco 1 S The funds of the charlty. prlor year estriGted fund8 Restricted income funds nr8Stricted lunds Designaled funds General funds Revaluation reserve Total unrestriGted funds 102.584 3,906 (54.903) 3,000 54,587 33,821 425,121 3.172,406 3.631,348 950,530 659,791 (88.215) {701,897} 53,551 (56,551) 949,687 326,464 3,172,406 4,448,557 1.610.321 (790.112} {3,000) 3.733,932 1,614.227 {845,015} 4,503,144 Openlng balan¢è Resources ari8lng Rosource8 utllised Translers & adlustmants Closing balance 16 Deslgnated funds: current year Fabric fund Transition fund Kathleen Read legacy fund Climate Garden project Denise Antenen legacy fund Vicarage Decoration fund 5,240 11.417 933,030 1,830 3,410 (11,417) (40,000) 40,000 42,933 5,138 36.654 53,892 14,090 7,839 14,497 932,832 32,161 28,436 5,138 1,001,977 949,687 53,892 38,256 Opening balanc8 Rosources arl8lng Rosour¢es utlllsed Transfers & adJu8tmonts Closing balanco 17 Deslgnated funds: prfor ￿ar Fabrlc fund Transition fund Kathleen Read legacy fund 33,821 28,581 59,634 5,240 11,417 933,030 949,687 17,500 933,030 950,530 53,551 33,821 88,215 53,551 Fabrlc fund Set aside by the i>CC for refurbishmenl to Ihe fabric of the church. A fund established to cover the costs of Ihe transition of seNices from Ihe charity St Mary Islinglon Community Partnership to St Marfs in April 2023. The transition having been successfully completed, the PCC agreed to transfer the balance of £11,267 back lo General Funds in 2024. A legacy from the late Kathleen Read. A final amount of £53,892 was received in respect of this legacy during 2024. The legacy was given without restrictions, to be allocated by the PCC towards specific projects as needs are identified. During 2024, the PCC agreed to allocate £40,000 towards Ihe Climate Garden Project (see below) and an exp6nditure of £14,000 on refurbishment of the storage area for Ihe Preschool. The PCC also agreed to designate £135,000 from the legacy to allow the recruitment of a Children and Families Minister and to provide ongoing support for that role. In early 2024, the PCC agreed to allocate £40,000 from the Kathleen Read legacy fund to support a five-y8ar plan for the Churchyard. The aim is to improve biodiversity and support st Mary's mission stralegy of becoming a regional leader in care for creation and eco-justice. The fund will support the cost of a gardener- the development of a wild-flower meadow for the interment of ashes and support towards the creation of a "dry garden. in a neglected area of the south garden. This was given without restridions, but Ihe executors indicated four'areas favoured by Denise Antenen on an advisory basis.. Expènditur8 in 2024 continued to be in support of classical Music. including a series of well4eceived monthly lunchtime Con￿rtS. The PCC is responsible for setting aside an annual sum of money to ensure the Vicarage is kept in good decorative order. Transltlon fund Kathleen Read legacy fund Climate Garden project Deniso Antenon legacy fund Vicarage Decoration fund Page 13

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington {A Parochlal Church Councll roglslored as a charity, number: 1131900) Notes to the Accounts for tho yèar ondod 31 December 2024 Openlng balance In¢oming resources Resources Transfers & expended galnsl{losses) Closlng balance 18 Restrictsd funds: current period Crypt Secondary Glazing Fund Children's Ministry Denise Anlenen Legacy Discretionary fvnd Flower fund Music Fund Monday Fellowship Retreat fund Vicarage Decoration fund 25,500 417 5,427 5,408 20,073 4,991 42.933 1,373 (42,933) 375 100 3.000 130 600 100 1,148 3,000 547 664 988 864 3,638 54,587 571 3,638 {46,5711 29,522 12,105 25,433 Op8nlng balance Incomlng resources Re80urces Transfers & expended galnsl(losses) Closlng balance 19 Restrl¢ted funds: prlor porlod Children's Ministry Denise Antenen Legacy Discretionary fund Flower fund Monday Fellowshlp Retreat fund Vlcarage Decoration fund 48,057 50.347 1.298 45 1,338 861 638 102,584 1,831 1,700 375 44,897 9,114 300 45 350 197 4,991 42.933 1,373 988 664 3,638 54,587 3,000 3,000 3,906 54,903 Restrlcted funds (contlnuad) Projects financed by restricted funds are support8d by unrestricted funding where necessary. Thls occurs where the funding is In arrears or the incidence of expenditure on the project occurs disproportionalely at tha beginning of the project compared to the income flows. Where restricted projects end the year with a deficit, this is mel by after year4nd restricted income or transfers from unrestricted funds. Name of Rostricted Fund Crypl Socondary Glazing Fund Purposo of rastricted fund. Sl Mary's received a generous grant of £25,500 from the Cloudesley Foundation in 2024 to cover the cost of installing secondary glazing in the crypt. The first phase of this project has been completed in January 2025 and the project is expècted to finish in the first half of 2025. A fvnd established to meet the cosls of employing a Youth Minister. The balance of this iiind was utilised early in 2024, after which the remaining ongoing expenditure was covered by the PCC'S general funds. This was given without restrictions, bul the executots indicated four 'areas favoured by Denise Antenen on an advisory basis.. Exp8nditure in 2024 continued to bè in support of classical music, including a series of well-received monthly lunchtimè concerts. In previous years this fund has b88n incorrectly stated as restricled fund instead of designated fund. This has now be8n rectified and now the fund is shown as part of the designated funds. A fund to be used at Ihe church wardens, discretion, lo help people in financial crisis. A fund established to collect donations made specifically for the provision of floral arrangèments in church. A donation of £3,000 was received in 2024 to support the next series of lunchtime concerts at the Church. A restricted fund has been established to hold this and any future donations in support of classical music. A fund to provide friendship and refreshm8nts for the congregation and general public. To be applied lo rotreals and similar events. The PCC is responsible for setting aside an annual sum of money to ensure the Vicarage is kept in good decorative order. In previous years this fund has been incorrectly Stated as restricted fund instead of designated fund. This has now been recllfied and now the fund is shown as part of the designaled funds. Chlldrèn's Mlnlgtry Denlse Antenen Legacy Dlscretionaryfund Flower fund Muslc Fund Monday Fellowship Rotrgat fund Vicarago Decoration fund Page 14

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochlal Church Council registered as a charfty, number". 1131900) Notes to the Accounts for the year ended 31 December 2024 General Designated funds funds 9,917 19,917) Restricted funds Rovaluation reservo 20 Transfers between funds: current perlod General to designated Restricted to designated Total 9,917 36,654 146,571) General Designated funds funds (3,000) Restrlcted funds 3.000 Endowment funds 21 Transfers between funds: prlor perlod General to restricted General to designated Total 53.551 53,551 {56,5511 3,000 General Deslgnated funds funds Restricted funds Rèvaluation reserve 22 Not assets attributable to funds: current period Total Tangible fixed assets Current assets Current liabilities Nel assets represent8d by funds 78,291 289,238 75,676 291,853 3,172,406 3,250,697 1,316,648 75,676 4,491.669 1,001.977 25,433 1,001,977 25,433 3,172,406 General Deslgnated fund8 funds Restrlctod funds Revaluatlon reservè 23 Net assels attrfbutable to funds: prlor perlod Total Tanglble fixed ass8ts Current assets Current liabilities Net assets represented by funds 79,175 337,297 190,008 326,464 3,172,406 3,251,581 1,341,571 190,008 4,503,144 949.687 54,587 9,687 54,587 3,172,406 24 Taxation The PCC is a registered ch8rity. Accordlngly, it is exempt from taxation in respect of incom8 and capital gains to th8 8Xtent that these are applied to its charitable objects. 25 Post balance sheet events There were no significant post balance sheét events. 26 Penslon commltments The charity contributes to employee defined contrlbulion (DC) euto enrolment pension 8chem8s. The assets of th8 schémes are held s8parately from those of the charity in ind8P8ndently administered funds. 2024 2023 2,574 The unpaid contributlons outstanding at the year end were: 27 Contingent liabilltles The charity had no material conting8nl liabilities at 31 December 2024 nor at 31 De￿mber 2023. Page 15

Parochial Church Council of the Ecclesiastical Parish of St Mary, Islington (A Parochial Church Councll reglslered as a ¢harlty, number: 1131900) Notes to the Accounts for the year ended 31 December 2024 28 Transltion from Matys On 1 January 2009, the community activities of the PCC were commissioned to a separate registered charity. called St Mary Islington Community Partnership and rebranded during 2014 as"Mary's". Under the terms ofa lease and licence agreement entered into in April 2013, Mary's paid rent of £Nil in 202412023.. £18,750) and received a discretionary grant from St Mary's of £13,750 {2024- nill. The transition of the community activities back to St Mary's took place on 1 st April 2023 and 2024 represents Ihe first full year of the new structure. Mary's Youth Club continues to use the facilities of the Neighbourhood Centre and Crypt at a preferential rate. 29 Transactions wlth trusteeslPCC m8mb8rs During the year the lolal amount aggregate donations made by PCC members. their close family members and business associates amounted to £45,518 {2023: £51.377). During the year thre8 (2023.. thre8) trustees wer8 r8imbursed a total of £2,339 {2023.' £2.2271 for 8XP8ns8s incurred on behalf of th8 charity. 30 Glfts In klnd and volunteers During the year the charity ben8fited from unpald worf¢ pèrfomied by volunteers. Page 16