| FOR THE YEAR ENDED 31 D | FOR THE YEAR ENDED 31 D | FOR THE YEAR ENDED 31 D | FOR THE YEAR ENDED 31 D | ECEMBER 2022 | |||||
|---|---|---|---|---|---|---|---|---|---|
| REFERENCE | AND ADMINISTRATIVE INFORMATION |
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| This is the Annual | Report for St Mary Abbots PCC. | ||||||||
| Overall responsibility | for the affairs ofSt Mary Abbots PCC is | exercised by the Vicar, the Churchwardens | and | ||||||
| the Parochial | Church | Council. The members of the St Mary |
Abbots PCC who have served | from 1 January | |||||
| 2022 up to the | date ofapproval ofthese financial statements were as follows: |
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| EXOFFICIO MEMBERS: | |||||||||
| Clergy | The Rev'd Emma Dinwiddy Smith (Vicar, Chair) |
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| The Rev'd Alice Ormondroyd (Assistant Curate) |
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| The Rev'd Christopher Rogers (Associate Vicar) |
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| Churchwardens | Edward Warrick (Vice Chair) | ||||||||
| Guy Heald (Hon Treasurer from 18e May 2022) | |||||||||
| Deanery Synod | Peter Darrell (until 18e May 2022) | ||||||||
| Representatives | Jose Jueguen (from 18e May 2022) |
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| Hakan Sandahl-Wilson (From 18e May 2022) |
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| David Shaw (Stewardship Secretary) David Wilkinson (until 18'" May 2022) |
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| James Dunford Wood | |||||||||
| ELECTED MEMBERS: | |||||||||
| Ivell Arnold (Electoral Roll Officer) | |||||||||
| Rona Davis (from 18e May 2022) | |||||||||
| Danie El-Kadi (until 18eMay 2022) | |||||||||
| Nigel Grieve | |||||||||
| Alexander Jueguen (Safeguarding Officer) |
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| Margaret Lane |
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| David Peerless (until 18e May 2022, Hon Treasurer) Emma Porteous (until 18"May 2022, Hon Secretary) |
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| Margaret Pringle (from IBe May 2022) |
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| Rebecca Tinsley | |||||||||
| Patricia Wilson (Hon Secretary from 18eMay 2022) | |||||||||
| The Church retains | the | following professionals: |
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| Bankers: | National Westminster Bank pic |
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| Royal Garden Branch, 55 Kensington | High Street, London, W8 5ZG | ||||||||
| CAF Bank | |||||||||
| 25 Kings Hill Avenue, Kings Hill, West |
Mailing, ME194JQ | ||||||||
| MetroBank | |||||||||
| 160-166Kensington High Street, London, W8 7RG |
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| Solicitors | Birketts LLP | ||||||||
| 106Leadenhall Street, London EC3A |
4AA | ||||||||
| Investment | Charles Stanley &Co Ltd |
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| 25 Luke Street, London, EC2A4AR | |||||||||
| Architect | Sarah Khan RIBASCAAABC MA GradDiplCons(AA)Dist | MFPWS | |||||||
| Roger Meara Architects LLP, Union Chapel, Compton Ave, London, |
N1 2XD | ||||||||
| Auditors | Griffin Stone Moscrop &Co | ||||||||
| 21-27Lamb's Conduit Street, London, | WC1N 3GS |
| Unrestricted | Restricted | Endowment | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | |||||
| 2022 | 2022 | 2022 | 2022 | 2021 | |||||
| Note | E | E | E | E | E | ||||
| Income and | |||||||||
| endowments | from: | ||||||||
| Donations and |
legacies | 284,545 | 1,200 | 285,745 | 192,373 | ||||
| Church activities | 119,264 | 119,264 | 101,595 | ||||||
| Fundraising | 206,967 | 206,967 | 190,888 | ||||||
| Investments | 31,616 | 36 | 9,367 | 41,019 | 33,072 | ||||
| Insurance claim |
2,530 | 2,530 | |||||||
| Total income | and | ||||||||
| endowments | 644,922 | 1,236 | 9,367 | 655,525 | 517,928 | ||||
| Expenditure | on: | ||||||||
| Raising funds | 7 | 19,075 | 1,191 | 20,266 | 14,383 | ||||
| Charitable activities |
8 | 638,824 | 415 | 639,239 | 489,739 | ||||
| Total expenditure | 657,899 | 1,606 | 659,505 | 504,122 | |||||
| Net | |||||||||
| (expenditure)/income | |||||||||
| before net | |||||||||
| (losses)/gains | on | ||||||||
| investments | (12,977) | 1,236 | 7,761 | (3,980) | 13,806 | ||||
| Net (losses)/gains | on | ||||||||
| investments | (177,970) | (37,873) | (215,843) | 133,530 | |||||
| Net movement | in | ||||||||
| funds | (190,947) | 1,236 | (30,112) | (219,823) | 147,336 | ||||
| Reconciliation | of | ||||||||
| funds: | |||||||||
| Total funds brought | |||||||||
| forward | 4,259,930 | 51,800 | 196,172 | 4,507,902 | 4,360,566 | ||||
| Net movement | in funds | (190,947) | 1,236 | (30,112) | (219,823) | 147,336 | |||
| Total funds carried | |||||||||
| forward | 4,068,983 | 53,036 | 166,060 | 4,288,079 | 4,507,902 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Note | 5 | 5 | |||||
| Fixed assets | |||||||
| Tangible assets | 13 | 3,005,789 | 3,010,577 | ||||
| Investments | 14 | 1,179,818 | 1,292,720 | ||||
| 4,185,607 | 4,303,297 | ||||||
| Current assets | |||||||
| Debtors | 15 | 61,388 | 56,623 | ||||
| Cash at bank and in hand | 102,270 | 200,409 | |||||
| 163,658 | 257,032 | ||||||
| Creditors: amounts | falling due within one | ||||||
| year | 16 | (61,186) | (52,427) | ||||
| Net current assets | 102,472 | 204,605 | |||||
| Total assets less current liabilities | 4,288,079 | 4,507,902 | |||||
| Net assets excluding | pension asset | 4,288,079 | 4,507,902 | ||||
| Total net assets | 4,288,079 | 4,507,902 | |||||
| Charity funds | |||||||
| Endowment funds |
18 | 166,060 | 196,172 | ||||
| Restricted funds |
18 | 53,036 | 51,800 | ||||
| Unrestdicted funds |
18 | 4,068,983 | 4,259,930 | ||||
| Total funds | 4,288,079 | 4,507,902 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| 6 | 6 | ||||
| Cash flows from operating | activities | ||||
| Net cash used in operating |
activities | (16,089) | (33,409) | ||
| Cash flows from investing | activities | ||||
| Dividends, interests and rents from investments |
41,019 | 33,070 | |||
| Purchase oftangible fixed assets |
(47,861) | ||||
| Proceeds from sale ofinvestments | 41,275 | 134,251 | |||
| Purchase of investments | (164,344) | (181,710) | |||
| Net cash used in investing | activities | (82,050) | (62,250) | ||
| Cash flows from financing | activities | ||||
| Net cash provided by financing activities |
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| Change in cash and cash |
equivalents | in | the year | (98,139) | (95,659) |
| Cash and cash equivalents | at the beginning | ofthe year | 200,409 | 296,068 | |
| Cash and cash equivalents | at the end | of | the year | 102,270 | 200,409 |
| The notes on pages 15to 32form part ofthese financial statements |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| E | 6 | 6 | ||
| Donations | ||||
| Planned giving |
58,924 | 1,200 | 60,124 | |
| Tax reclaimed | 19,560 | 19,560 | ||
| Collections | 64,380 | 64,380 | ||
| Donations | and appeals | 52,820 | 52,820 | |
| Total donations | 195,684 | 1,200 | 196,884 | |
| Legacies | 12,516 | 12,516 | ||
| Grants | 76,345 | 76,345 | ||
| Subtotal | 88,861 | 88,861 | ||
| 284,545 | 1,200 | 285,745 | ||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| F | E | |||
| Donations | ||||
| Planned giving |
63,470 | 1,200 | 64,670 | |
| Tax reclaimed | 20,154 | 300 | 20,454 | |
| Collections | 39,752 | 39,752 | ||
| Donations | and appeals | 55,301 | 55,301 | |
| Total donations | 178,677 | 1,500 | 180,177 | |
| Legacies | 10,731 | 10,731 | ||
| Grants | 1,465 | 1,465 | ||
| Subtotal | 12,196 | 12,196 | ||
| 190,873 | 1,500 | 192,373 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2022 | ||
| 6 | E | ||
| Church | and statutory fees | 7,309 | 7,309 |
| Church | groups | 30 | 30 |
| Church | hall lettings | 111,925 | 111,925 |
| 119,264 | 119,264 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| 2021 | 2021 | ||
| F | 5 | ||
| Church | and statutory fees | 10,739 | 10,739 |
| Church | groups | 1,826 | 1,826 |
| Church | hall lettings | 89,030 | 89,030 |
| 101,595 | 101,595 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2022 | ||
| E | 5 | ||
| Income from | rentals | 188,914 | 188,914 |
| Fundraising | events | 18,053 | 18,053 |
| 206,967 | 206,967 |
| Income from | fundraising events (continued) |
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|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| 2021 | 2021 | ||
| 6 | F | ||
| Income from | rentals | 182,278 | 182,278 |
| Fundraising | events | 8,610 | 8,610 |
| 190,888 | 190,888 |
| Unrestricted | Restricted | Endowment | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2022 | |||
| 6 | 6 | 6 | 6 | |||
| Dividends | and | interest | 31,616 | 36 | 9,367 | 41,019 |
| Unrestricted | Restricted | Endowment | Total | |||
| funds | funds | funds | funds | |||
| 2021 | 2021 f |
2021 E |
2021 6 |
|||
| Dividends | and | interest | 26,888 | 10 | 6,174 | 33,072 |
| Unrestricted | Endowment | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2022 | 2022 | 2022 | ||||
| E | E | 6 | ||||
| Stewardship | costs | 243 | 243 | |||
| General fundraising | and | appeal costs | 12,353 | 12,353 | ||
| Investment | management | fees | 6,479 | 1,191 | 7,670 | |
| 19,075 | 1,191 | 20,266 | ||||
| Unrestdcted | Endowment | Total | ||||
| funds | funds | funds | ||||
| 2021 | 2021 | 2021 | ||||
| F | 6 | |||||
| Stewardship | costs | 46 | 46 | |||
| General fundraising | and | appeal costs | 7,729 | 7,729 | ||
| Investment | management | fees | 5,674 | 6,608 | ||
| 13,449 | 934 | 14,383 |
| Unrestricted | Endowment | |
|---|---|---|
| funds | funds | Total |
| 2022 | 2022 | 2022 |
| E | E | |
| 638,824 | 415 | 639,239 |
| Unrestricted | ||
| funds | Total | |
| 2021 | 2021 | |
| E | ||
| 489,739 | 489,739 |
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | ||
| directly | costs | funds | ||
| 2022 | 2022 | 2022 | ||
| E | E | E | ||
| Church | activities | 540,816 | 98,423 | 639,239 |
| Activities | ||||
| undertaken | Support | Total | ||
| directly | costs | funds | ||
| 2021 | 2021 | 2021 | ||
| E | F | |||
| Church | activities | 418,238 | 71,501 | 489,739 |
| Total | Total | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2022 | 2021 | |||||
| 6 | ||||||
| Staff costs | 115,839 | 104,204 | ||||
| Depreciation | 4,788 | 399 | ||||
| Missionary and |
Charitable | Giving | 23,858 | 1,646 | ||
| Ministry: Diocesan Clergy | Stipends | 150,940 | 122,004 | |||
| Ministry: Other Clergy Costs | 10,702 | 8,881 | ||||
| Church Running |
Expenses | 76,402 | 35,960 | |||
| Church Maintenance | 22,210 | 19,360 | ||||
| Services | 8,955 | 3,505 | ||||
| Choir and Music | 50,845 | 52,163 | ||||
| Congregational | Development | 8,479 | 2,355 | |||
| Church Hall repairs, maintenance |
and running | costs | 36,528 | 28,120 | ||
| 8 Hornton Place |
11,062 | 19,336 | ||||
| Staff Accommodation | 20,116 | 20,144 | ||||
| Sundry | 92 | 161 | ||||
| 540,816 | 418,238 |
| Total | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 | 2021 | |||
| 6 | ||||
| Staff | costs | 50,844 | 42,402 | |
| Bank | charges | 4,901 | 2,345 | |
| Legal | fees | 13,296 | 4,080 | |
| Other | professional | fees | 21,048 | 14,729 |
| Audit | fees | 8,334 | 7,945 | |
| 98,423 | 71,501 |
| Auditors' | remuneration | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| 5 | |||||
| Fees payable to the Charity's | auditor for the preparation | and audit ofthe | |||
| Charity's | annual accounts | 8,334 | 7,945 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| 6 | 5 | ||||
| Wages and | saladies | 146,299 | 129,297 | ||
| Social security costs | 8,408 | 7,641 | |||
| Contribution | to defined contribution | pension | schemes | 11,976 | 9,668 |
| 166,683 | 146,606 | ||||
| The average | number ofpersons employed | by the Chadity during the year was as follows: |
| 2022 | 2021 |
|---|---|
| No. | No, |
| Church | |||
|---|---|---|---|
| Properties | equipment | Total | |
| 5 | F | E | |
| Cost or valuation | |||
| At 1 January 2022 | 2,963,115 | 88,911 | 3,052,026 |
| At 31December 2022 | 2,963,115 | 88,911 | 3,052,026 |
| Depreciation | |||
| At 1 January 2022 | 41,449 | 41,449 | |
| Charge for the year | 4,788 | 4,788 | |
| At 31December 2022 | 46,237 | 46,237 | |
| Net book value | |||
| At 31 December 2022 | 2,963,115 | 42,674 | 3,005,789 |
| At 31 December 2021 | 2,963,115 | 47,462 | 3,010,577 |
| Listed | |||
|---|---|---|---|
| investmentsf | |||
| Cost or valuation | |||
| At 1 January | 2022 | 1,292,720 | |
| Additions | 164,344 | ||
| Disposals | (41,275) | ||
| Revaluations | (235,971) | ||
| At 31 December 2022 | 1,179,818 | ||
| Net book value | |||
| At 31 December 2022 | 1,179,818 | ||
| At 31 December 2021 | 1,292,720 | ||
| Debtors | |||
| 2022 f |
2021 f |
||
| Due within one year | |||
| Trade debtors | 28,441 | 26,062 | |
| Other debtors | 75 | ||
| Prepayments | and accrued income | 32,872 | 30,561 |
| 61,388 | 56,623 |
| 2022 5 |
2021f | ||
|---|---|---|---|
| Trade creditors | 16,588 | 10,678 | |
| Other taxation and social security | 2,861 | 4,256 | |
| Other creditors | 28,971 | 26,156 | |
| Accruals and deferred | income | 12,766 | 11,337 |
| 61,186 | 52,427 |
| 2022 | 2021 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 5 | ||||||||||
| Financial | assets | ||||||||||
| Financial | assets | measured | at | fair | value | through | income | and | expenditure | 102,270 | 200,409 |
| 18. | Statement offunds | Statement offunds | ||||||
|---|---|---|---|---|---|---|---|---|
| Statement offunds | - current year | |||||||
| Balance at | ||||||||
| Balance at 1 | 31 | |||||||
| January | Transfers | Gains/ | December | |||||
| 2022 | Income | Expenditure | in/out | (Losses) | 2022 | |||
| 6 | 6 | 6 | 6 | E | 6 | |||
| Unrestricted | ||||||||
| funds | ||||||||
| Designated | ||||||||
| funds | ||||||||
| Bequests | 44,679 | 209 | 44,888 | |||||
| St Mary Abbots | ||||||||
| Property Fund |
II | 366,809 | 7,447 | (2,955) | (317,578) | (53,723) | ||
| St Mary Abbots | ||||||||
| Property Fund |
I | 430,539 | 12,204 | (3,456) | (360,114) | (79,173) | ||
| Mary Isa Trust | ||||||||
| (Renovation) | 273,454 | 7,641 | (2,146) | (39,530) | 239,419 | |||
| Accessibility | ||||||||
| Fund | 27,145 | (11,368) | 15,777 | |||||
| 1,115,481 | 54,646 | (19,925) | (677,692) | (172,426) | 300,084 | |||
| General funds | ||||||||
| General Fund | 3,144,449 | 590,276 | (637,974) | 677,692 | (5,544) | 3,768,899 | ||
| Total | ||||||||
| Unrestricted | ||||||||
| funds | 4,259,930 | 644,922 | (657,899) | (177,970) | 4,068,983 | |||
| Endowment | ||||||||
| funds | ||||||||
| The Curtis | ||||||||
| Bequest Fund | 196,172 | 9,367 | (1,606) | (37,873) | 166,060 | |||
| Restricted | ||||||||
| funds | ||||||||
| Appeal | 51,800 | 1,236 | 53,036 | |||||
| Total offunds | 4,507,902 | 655,525 | (659,505) | (215,843) | 4,288,079 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| 6 | ||||
| Not later than | 1 year | 6,401 | 2,544 | |
| Later than | 1 year and not later than 5years | 382 | 3,816 | |
| 6,783 | 6,360 |