**ST STEPHEN'S PCC ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO THE 31 DECEMBER 2022**
**Charity Registration Number 1131952**
**ST STEPHEN'S PCC Annual Report of the Parochial Church Council For the Year ended 31 December 2022**
## **Administrative information**
St. Stephen’s Church is situated in South Kensington in the Royal Borough of Kensington and Chelsea. It is in the Kensington Episcopal Area of the Diocese of London but is under the pastoral care of the Bishop of Fulham. The correspondence address is St. Stephen’s Church, Southwell Gardens, London SW7 4RL
The Parochial Church Council (PCC) is a registered charity number 1131952.
PCC members who have served from 1[st] January 2022 until the date this report was approved are:
|_Incumbent:_|The Revd Philip Barnes|Chairman|
|---|---|---|
|_Wardens:_|Mr Iain Hunter|Vice Chairman|
||Ms Minette Moss||
|_Representatives on the Deanery Synod:_|Mr Patrick Rodier||
|_Elected members:_|Mr. David Colville|Treasurer|
||Mr Anthony Gardner||
||Mrs Elizabeth||
||Olunloyo||
||Mrs Sue Michelmore||
||Mr Ross Egerton||
|Safeguarding officer|Ms Minette Moss||
||Mrs Elizabeth||
|Children’s Champion:|Olunloyo||
|Secretary:|Mr Mark Hodgin||
## **Structure, governance and management**
The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC is elected each year as are the Churchwardens.
## **Objectives and Activities**
The PCC has the responsibility of co-operating with the incumbent, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
## **Achievements and Performance**
Church attendance
On the 31st December 2022, there were 67 (2021- 63) on the Electoral Roll. Average Sunday attendance, counted during October 2022, was 48 (2021- 54) adults and 4 (2021- 3) children. Average attendance for midweek services during October 2022 was 5 (2021- 5). In 2022 we had three marriages, four funerals, two baptisms and one confirmation in church..
2
**ST STEPHEN'S PCC Annual Report of the Parochial Church Council (Continued)**
## **For the Year ended 31 December 2022**
## **Review of the year**
2022 was in many ways a year of building works. After many months of planning and preparation the long awaited refurbishment of the vestry, kitchen and provision of toilets, and the development of new access to the north porch and of the church grounds began in the late spring, and was finally completed in the winter. Inevitably perhaps with an old building the project hit a number of snags which slowed progress, including some external issues with Thames Water, and the discovery of badly root damaged drainage pipes in the north garden. The work was expertly carried out by Bakers of Danbury supervised by our Architect Andrew Waite of Nick Cox Associates. We finally have a beautiful, disabled accessible entrance with a lovely carved stone roundel set into resin bonded gravel proclaiming in words from East Coker by T S Eliot “…the still point of the turning world… where past and future meet…” The Sacristy, the engine room of any parish, is now an attractive and functional space lined with bespoke oak cabinets, which can be used for meetings. The kitchen has been upgraded, and we now have two toilets available – all of which means the church is better equipped for hosting events and larger congregations. The congregation managed to deal with the disruption with patience and grace, and we are delighted with the result of such hard work. The work was possible through a grant from St Stephen’s House (Gloucester Rd) Ltd and we are very grateful to James Day and the trustees for their support of this project.
At the end of 2020 we received Fr Alan Rimmer as our Assistant Curate, the first curate the parish has had for many years. Fr Alan has been a huge blessing to us, and watching him grow in confidence and skill as a deacon and new priest. His ordination at the end of June was an occasion of great joy, and it was very good to welcome so many of his friends and family to his First Mass at St Stephen’s. After months of dreary restrictions I think we were also rather pleased to be in party mode again –fabulous music, glorious liturgy and celebrating into the small hours were the order of the day!
We have been able to deploy tax that we’ve been able to reclaim using the Listed Places of Worship Scheme to carry out some internal restoration projects. The St Stephen Chapel frescos (originally installed under the guidance of Sir Walter Tapper in 1913) were cleaned and restored; the lower level of the sanctuary stripped of white emulsion paint, stonework cleaned, and fresco paintings reinstated; and, remarkably a hitherto ‘forgotten’ renaissance painting was discovered in the clear out of the vestry before the building work began and has been meticulously cleaned and restored.
Meanwhile work continued on building up the life of the parish, as we settled back into life following all the disruptions of the pandemic. We’ve found new ways of keeping in touch with our largely eclectic and diverse congregation, and our weekly email with news, reflections and updates on forthcoming events is received by 90 contacts. The Sunday 11am Sung Mass is livestreamed, and this remains on our YouTube channel for a couple of weeks for those who are unable to be present ‘in person’ or for any wanting to ‘listen again’ to the sermon or other elements of the Mass.
During 2022 we continued to benefit from the ministry of Fr Alan Rimmer as our Assistant Curate, and to watch him grow in confidence and skill as a new priest. During Lent we explored the meaning of pilgrimage in the Christian tradition, and this included an online Book Club (which continued meeting throughout the year) and a pilgrimage to Canterbury Cathedral.
During the summer three couples were married in St Stephen’s, and we were delighted to host these lovely celebrations.
The Annual Meetings took place on Sunday 8 May 2022 when Iain Hunter and Minette Moss were re-elected churchwardens, and a new PCC was elected. The full PCC met on five occasions, and with the churchwardens and Treasurer David Colville, have continued to work hard and effectively; we are most grateful for their leadership and care.
The music department has continued to enrich our worship gloriously, led by Gregory Drott as Director of Music. We have also hugely benefitted from extending Christopher Hamilton’s period as assistant Director of Music by another year. We are hugely grateful for all that they contribute to our life.
After a number of years of uncertainty the parish has once more been provided with a ‘permanent’ parsonage house, and 4 Cambridge Place was allocated as the vicarage for St Stephen’s. Fr Philip moved in at the end of June. At the end of 2022 Fr Philip relinquished his additional work on behalf of the Bishop of Fulham in order to be ‘full time’ at St Stephen’s, not least since the appointment of Fr Alan Rimmer as Assistant Priest at All Saints, Margaret Street was announced
Having celebrated the Platinum Jubilee of Her Majesty Queen Elizabeth II with style in June, including a jolly Parish Lunch, parishioners were saddened by her death in September. On the Saturday following the news of her death we hastily rearranged what was due to be the National Festival for the Confraternity of the Blessed Sacrament into a Requiem Mass for her, and a Requiem was also held on the Sunday following the funeral.
3
**ST STEPHEN'S PCC Annual Report of the Parochial Church Council (Continued) For the Year ended 31 December 2022**
## **Financial Review**
Total receipts on ordinary unrestricted and restricted funds are £585,212, expenditure is £593,574. In 2022 planned giving was £14,000 (£14,070 in 2021). Loose collection money also was down on the previous year £7,675 (£10,455 in 2021), but there was an increase in donations and appeals £4,947 (£2,630). The building programme at the church has meant our income from hiring out the Church (and Hall) for concerts and rehearsals at £38,192 (£38,701 in 2021) has still not recovered to pre-pandemic levels. The PCC continues to benefit from generous grants from two trusts associated with the church, as well as a grant supporting the music from the Old Possum Practical Trust. In particular, this year the PCC has benefited from additional grants from St Stephen’s House (Gloucester Road) Ltd to support the development works at the church: £325,446 (£116,139 in 2021). These development works have also been the PCC’s main expenditure in 2022: £325,777 (£115,464 in 2021). The contribution to the diocesan quota remained more or less the same in 2022 at £64,390 which largely provides the stipends and housing for clergy. The cost to the PCC of having a curate was £44,089.The other significant items of expenditure are the cost of running and maintaining the building, especially the increased cost of energy £13,450 (£9,799 in 2021) the cost of music at services £43,638 (£42,022 in 2021) and staff £27,354 (£25,798 in 2021). In 2022 there was again no Festival of Arts & Faith. Overall in 2022 there was a small deficit for the year of £8,361 leaving a net accumulated surplus of £33,421.
## **Reserves policy**
The PCC aims to hold a reserve of at least £15,000 in unrestricted funds to cover emergency situations that may arise from time to time. The net current unrestricted reserves are £33,421 (2021 £41,366).
## **Approved by the PCC on 23 April 2023 and signed on their behalf by the Revd Philip Barnes (Chairman).**
## **Revd Philip Barnes**
4
## **ST STEPHEN'S PCC ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO THE 31 DECEMBER 2022**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
Members of the PCC are required by the Church Accounting Regulations and the Charities Act 2011 to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Church and of its results for that year. In preparing those accounts, the trustees are required to:
(a) select suitable accounting policies and apply them consistently;
- (b) make judgements and estimates that are reasonabie and prudent;
(c) prepare the accounts on a going concern basis unless it is inappropriate to assume that the Church will continue in operation.
The members of the PCC are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Church.
They are also responsible for safeguarding the assets of the Church and hence taking reasonable steps to prevent and detect fraud and other irregularities.
## **Signed on behalf of the PCC**
**Mark Hodgin Secretary to the PCC Date 23 April 2023**
5
## **ST STEPHEN'S PCC ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO THE 31 DECEMBER 2022**
## **Independent Examiner's report to the PCC**
This report is attached to the accounts of the PCC for the year ended 31st December 2022 which are set out on pages 7 to 12 and is in respect of an examination carried out on the accounts under section 145(1) of the Charities Act 2011. These statements comprise of the Statement of Financial Activities, the Balance Sheet and the related notes.
## **Respective responsibilities of trustees and examiner**
As members of the PCC you are responsible for the preparation of the accounts and you consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to :
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under
section 145 (5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting
requirements of the 2011 Act and with the methods and principles of the Statement of Recommended Practice (FRS102) : Accounting and Reporting by Charities.
have not been met; or
(2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Christopher Sale Chartered Accountant (ICAEW) JnC Business Solutions Limited 24 Upper Hall Park Berkhamsted HP4 2NP 23 April 2023
6
## **ST STEPHEN'S PCC STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**ST STEPHEN'S PCC**
**STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 DECEMBER 2022**||
|---|---|
|**Note**
**INCOMING RESOURCES**
Voluntary Income
2a
Activities for Generating Funds
2b
Income from Investments
2c
Income from Church Activities
2d
**Total Incoming resources**
**RESOURCES EXPENDED**
Church Activities
3a
Cost of Generating Funds
3b
Professional Fees
3c
Governance Costs
3d
**Total resources expended**
**Net incoming /(outgoing) resources**
**Net Movement in Funds for the period**
**TOTAL FUNDS BROUGHT FORWARD**
**TOTAL FUNDS CARRIED FORWARD**|**2021**
**£**
**£**
**£**
**£**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total 2021**
**Total**
**2020**
500,152
42,500
542,652
330,082
38,192
0
38,192
38,701
23
0
23
29
4,346
0
4,346
8,011
**2022**|
||542,712
42,500
585,212
376,823|
||489,772
36,016
525,788
342,296
6,406
6,900
13,306
11,367
51,105
0
51,105
21,927
3,375
0
3,375
3,225|
||550,658
42,916
593,574
378,816|
|||
||(7,945.)
(416.)
(8,361.)
(1,992.)|
|||
||(7,945.)
(416.)
(8,361.)
(1,992)|
|||
||41,366
416
41,782
43,774|
||33,421
0
33,421
41,782|
No separate statement of Total Recognised Gains and Losses has been presented as all such gains and losses have been dealt with in the Statement of Financial Activities
The net movement in funds for the year arise from the charity's continuing operations.
7
## **ST STEPHEN'S PCC**
## **BALANCE SHEET AT 31 DECEMBER 2022**
## **Note**
|**INVESTMENTS**
5
**CURRENT ASSETS**
Stock
Debtors
6
Cash at bank and in hand
**LESS CREDITORS**:
Amounts falling due within one year
7
**NET CURRENT ASSETS (LIABILITIES) /**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**:
amounts falling due after more than one year
Bank loan
**NET ASSETS**
**FUNDS OF THE CHARITY**
Unrestricted Funds General
Restricted income Funds|**2021**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total 2022**
**Total**
**2021**
**£**
**£**
**£**
**£**
0
0
0
0
0
0
0
0
12,672
0
12,672
23,394
34,923
0
34,923
28,657
**2022**|
|---|---|
||47,595
0
47,595
52,051|
||(14,174)
0
(14,174)
(10,269)|
||33,421
0
33,421
41,782|
|||
||33,421
0
33,421
41,782|
||0
0
0
0
0
0
0
0|
||33,421
0
33,421
41,782|
||33,421
33,421
41,782
0
0
0
0|
||33,421
0
33,421
41,782|
These financial statements have been prepared in accordance with the provisions of the Statement of Recommended Practice, Accounting and Reporting by Charities (2005).
These financial statements were approved by the Parochial Church Council and are signed and authorised for issue on their behalf by:
**Revd Philip Barnes Date 23 April 2023**
**Chairman**
8
## **ST STEPHEN'S PCC**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31 December 2022**
## **1) ACCOUNTING POLICIES**
## **BASIS OF ACCOUNTING**
The financial statements have been prepared under the historical cost convention and in accordance with the Church Accounting Regulations, and applicable accounting standards and the Statement of Recommended Practice, Accounting and Reporting by Charities (2005).
## **FUNDS**
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. These include funds designated for particular purposes by the PCC.
The purpose of any restricted funds is noted in the accounts.
The accounts include transactions, assets and liabilties for which the PCC can be held responsible. They do not include the accounts of Church Groups that own an affiliation to another body nor those that are informal gatherings of Church members.
## **INCOME POLICY**
Voluntary income including donations and grants are recognised where there is entitlment, certainty of receipt and the amount can be measured with sufficient reliability.
Amounts receivable under covenant are recognised only when honoured by the covenanter.
Incoming resources from tax reclaims for Gift Aid are included in the SoFA where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Grants and legacies are accounted for as soon as the PCC is notified of its entitlement and the likely amount due. Funds raised by the festival and similar events are accounted for gross.
Sales of books and magazines from Church bookstalls are accounted for gross.
## **Other ordinary Income**
Rental income from letting of Church premises is accounted for when received.
Parochial fees due to the PCC for weddings, funerals etc are accounted for on an event by event basis.
## **Investment Income**
Dividends and interest are accounted for when due. Tax recoverable on such income is accrued for on the same basis.
## **RESOURCES EXPENDED**
Expenditure is recognised on an accruals basis as a liability is incurred.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of the activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are allocated on an appropriate basis.
## **ACCOUNTING FOR GRANTS AND DONATIONS**
## **Grants**
Grants and Donations are accounted for when the payment has been made or authorised and due for payment.
## **Costs directly related to the work of the Church**
The Diocesan quota is accounted for when payable and any unpaid at 31 December 2022 is shown as a creditor in the Balance Sheet.
9
**ST STEPHEN'S PCC NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 December 2022**
## **FIXED ASSETS**
## **Consecrated land and buildings and movable Church furnishings**
Consecrated and beneficed property is excluded from the accounts by s 96(2)(c) of the Charities Act 1993.
No value is placed on movable Church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and movable Church furnishings, whether maintenance or improvement, is written off.
## **CURRENT ASSETS**
Amounts owing to the PCC in respect of fees, rents or other income are shown as debtors less any provision for amounts that rnay prove unrecoverable.
## **FUNDS**
Unrestricted funds are available for use at the discretion of the members of the PCC in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor and are segregated for use for that specific purpose.
## **INCOMING RESOURCES**
|**INCOMING RESOURCES**||
|---|---|
|**2a) VOLUNTARY INCOME**
Planned Giving
Collections
Donations and appeals
Legacies
Tax recoverable
LPWS
St Stephen's Endowment Trustees
St Stephen's House
Administrative Support Grant
Other Grants
Development Grants
Old Possum Trust
Insurance Claim
**TOTAL VOLUNTARY INCOME**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total 2022**
**Total**
**2021**
**£**
**£**
**£**
**£**
14,000
-
14,000
14,070
7,675
-
7,675
10,455
4,947
-
4,947
2,630
400
-
400
-
6,592
-
6,592
5,514
3,606
-
3,606
24,784|
||37,219
-
37,219
57,453
-
35,600
35,600
34,850
20,000
20,000
20,000
100,000
6,900
106,900
86,640
325,446
325,446
116,139|
||445,446
42,500
487,946
257,629|
||15,000
0
15,000
15000
2,486
0
2,486
0|
||500,152
42,500
542,652
330,082|
10
## **ST STEPHEN'S PCC NOTES TO THE FINANCIAL STATEMENTS**
## **(Continued)**
## **For the year ended 31 December 2022**
|**2b) ACTIVITIES FOR GENERATING FUNDS**
Festival Income
Church & Hall Lettings
**TOTAL**
**2c) INCOME FROM INVESTMENTS**
Bank Interest
Revaluation of CBF funds
**TOTAL**
**2d) INCOME FROM CHURCH ACTIVITIES**
Magazines, Books & Votive Candles
Liturgical fees
Music Income
Other Income
**TOTAL**
**TOTAL INCOME**
**RESOURCES EXPENDED CHARITABLE ACTIVITIES**
**3a) Church Activities**
Diocesan Common Fund
Vicarage expenses
Assistant Priest Honorarium,
Ministry Support
Office Expenses
Church Heating & Lighting
Church Maintenance & Repair
Church Minor Works
Church Development Works
Insurance
Sacristy
Music
Verger's Salary & Fees
Verger's Flat Expenses
Festival
General Expenses
Subscriptons & Charitable Giving
Brookwood
Special Event Catering
Odination Gift
Drott Gift
Bank Charges
**3b)Cost of Generating Funds**
Church Hall Expenses
Publicity
**3c)Professional Fees**
Architect
Property Consultant
Lighting design|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total 2022**
**Total**
**2021**
**£**
**£**
**£**
**£**
-
-
0
-
38,192
-
38,192
38,701
38,192
0
38,192
38,701
23
0
23
0
0
0
0
29
23
0
23
29
471
-
471
548
850
-
850
796
3,024
-
3,024
6,564
-
-
0
103
4,346
0
4,346
8,011
**542,712**
**42,500**
**585,212**
**376,823**
**2021**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total 2022**
**Total**
**2021**
£
£
£
£
64,390
-
64,390
64,700
2,232
-
2,232
-
-
-
0
2,500
9,315
36,016
45,331
30,335
9,991
-
9,991
5,029
13,450
-
13,450
9,799
11,348
-
11,348 12,286
16,434
-
16,434 36,973
274,672
-
274,672 93,537
9,474
-
9,474 8,558
3,073
3,073
3,360
43,638
-
43,638 42,022
20,454
-
20,454 19,158
4,208
-
4,208 3,373
- -
0
-
2,802
-
2,802 2,741
3,107
-
3,107 1,808
780
-
780 780
289
-
289 1,847
- -
0 1,392
- -
0 2,000
114
-
114 98
489,772
36,016
525,788
342,296
4,261
6,900
11,161
9,408
2,145
-
2,145
1,959
6,406
6,900
13,306
11,367
29,217
-
29,217
21,927
8,100
8,100
0
13,788
13,788
0
51,105
0
51,105
21,927
**2022**|
|---|---|
11
## **ST STEPHEN'S PCC NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022**
**(Continued)**
## **3d) Governance Costs**
|**3d) Governance Costs**|||||||
|---|---|---|---|---|---|---|
|Independent examiner||3,375|0||3,375|3,225|
|||3,375|0||3,375|3,225|
|||**Unrestricted**|**Restricted**|||**Total**|
|||**Funds**|**Funds**|**Total**|**2022**|**2021**|
|**4) STAFF COSTS**||**£**|**£**|**£**||**£**|
|Wages & salaries||20,454|6,900|27,354||25,798|
|Employers NI||0|0||0|-|
|||20,454|6,900|27,354||25,798|
|During the year the PCC employed 2 members of Staff at a salary less than £40,000||p.a.|||||
|||**Unrestricted**|**Restricted**|||**Total**|
|||**Funds**|**Funds**|**Total**|**2022**|**2021**|
|**5) INVESTMENTS**||**£**|**£**|**£**||**£**|
|CBF Investments Revalued at 31 December 2022||0|0||0|0|
|||0|0||0|0|
|||**Unrestricted**|**Restricted**|||**Total**|
|**6) DEBTORS**||**Funds**|**Funds**|**Total**|**2022**|**2021**|
|||**£**|**£**|**£**||**£**|
|Outstanding hire invoices||6,135|
-||6,135|8,995|
|HMRC Gift Aid||-|-||0|-|
|47 Marloes Road||4,000|
-||4,000|11,083|
|Insurance claim||-|-||0|-|
|Prepayments for Brookwood||-|-||0|780|
|Prepayments in respect of copyright fees and utilities||2,536|-||2,536|2,536|
|||12,672|0|12,672||23,394|
|||**Unrestricted**|**Restricted**|||**Total**|
|**7) CREDITORS**||**Funds**|**Funds**|**Total**|**2022**|**2021**|
|||**£**|**£**|**£**||**£**|
|Accruals for accounting fees||3,375|-||3,375|3,225|
|Director of Music fees||1,271|||1,271|-|
|Diocese of London||1,141|-||1,141|487|
|Deferred income||5,000|-||5,000|5,000|
|Charitable Giving||3,387|-||3,387|1,557|
|||14,174|0|14,174||10,269|
|||||||**As at 31**|
|**8) RESTRICTED FUNDS**|**As at 01 Jan 22**|**Receipts**|**Payments**|**Transfers**||**Dec 22**|
||**£**|**£**|**£**|**£**||**£**|
|S Stephen's Endowment Trust|416|35,600|(36,016.)||0|0|
|S Stephen's House|0|6,900|(6,900.)||0|0|
||416|42,500|(42,916)||0|0|
|**UNRESTRICTED FUNDS**|41,366|542,712|(550,658)||0|33,421|
|**TOTAL FUNDS**|41,782|585,212|(593,574)||0|33,421|
|||**Unrestricted**|**Restricted**|||**Total**|
|**9) ANALYSIS OF NET ASSETS BY FUND**||**Funds**|**Funds**|**Total**|**2022**|**2021**|
|||**£**|**£**|**£**||**£**|
|Investments||0|0||0|0|
|Current assets||47,595|0|47,595||52,051|
|Creditors Due within one year||(14,174)|0|(14,174)||(10,269)|
|||33,421|0|33,421||41,782|
12