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2022-12-31-accounts

Charity registration number 1132598

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

LEGAL AND ADMINISTRATIVE INFORMATION

Members Of The PCC

Members Of The PCC Vicky Read Rev Chris Fox Emma Buck Alan Philips Ruth Dales Coral Powell Elizabeth Patel Aruliniyan Nathaniel Nicholas Taylor Timothy Radcliffe Oscar Carshagen Paul Pambakian Ms A Couttigane Charity number 1132598 Auditor Summers Morgan First Floor, Sheraton House Lower Road Chorleywood Hertfordshire WD3 5LH Bankers Lloyds TSB Bank plc 45 The Broadway Ealing London W5 5JU Solicitors EDC Lord Link House 1200 Uxbridge Road Hayes Middlesex UB4 8JD

(Appointed 25 April 2022) (Appointed 25 April 2022) (Appointed 25 April 2022)

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

CONTENTS

Page
The PCC's report 1 - 5
Statement of The PCC's responsibilities 6
Independent auditor's report 7 - 9
Statement of financial activities 10 - 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 28

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

THE PCC'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The Members of the PCC present their report and accounts for the year ended 31 December 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Church Accounting Regulations, applicable law and the requirements of the Statement of Recommended Practice, "Accounting and Reporting by Charities" issued in March 2005.

Objectives and activities

Our vision at St Paul’s Church is to be a church where everyone is made welcome and everyone knows that they matter, both to us as a community and to God. We believe that everyone has something to bring that will add colour and creativity to the church family. We try to be an authentic Acts 2 church.

We are committed to following and trying to live like Jesus and as the disciple Paul encourages us, we need to let love be our highest goal. This means we look for ways to love and serve each other and our wider community. And if we make love our highest goal, we need to be those who receive love and give love to others.

Our mission statement is as follows…

As a church, we believe that God is calling us to something bigger than we are currently and the Diocese of London has appointed St Paul’s to be one of its Resource Churches. Our vision for this is that we will plant new churches in communities with no church presence, help to revitalise and renew existing churches and support and encourage other churches who ask for help. All of this is to enable the Kingdom of God to expand and grow in our wider community.

The Members of the PCC have paid due regard to guidance issued by the Charity Commission on public benefit, and in particular the supplementary guidance on charities for the advancement of religion, when deciding what activities the PCC should undertake.

Achievements and performance

2022 was a year of change for us as a church family, both in our activities and our staff team. The ending of Covid restrictions meant that we were able to restart many if our ministries that had been paused or restricted in the last couple of years. It was great to be able to welcome back many who had been unable to attend as well as welcome new people week by week

There were many changes in the staff team, which has both been a challenge and a joy. Nell Fox, Chris’s wife, died in February after undergoing cancer treatment for several years and her sunny, warm, friendly presence is missed by us all. The transition in leadership of the church from Mark Melluish to Chris Fox went ahead as planned in June 2022 and we all celebrated Chris’s licensing as Vicar here, with Mark moving to the role of Associate.

Further changes followed in September, when after 29 years, Mark and Lindsay Melluish moved to the Diocese of Hereford to enable Mark to take up the role of Mission Enabler and help churches there to engage with mission and outreach. With their departure and Tamlyn’s return from maternity leave prompted further changes in roles with Karen Cosh continuing as Children’s Pastor and Tamlyn moving into the role of Assistant Pastor.

We continue to celebrate what God is doing across our family of churches:

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

THE PCC'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Established ministries

Our desire to serve our local community is one that trumps almost everything else that we do. We believe wholeheartedly in the two greatest commandments - to love the Lord with all of your heart, soul, mind and strength and to love your neighbour as yourself. In 2022, we have shown that we have found different ways in doing both of those.

Some of the highlights are:

The ending of restrictions has enabled us to restart our church ministries as well and so the church family life has now returned fully.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

THE PCC'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Our relationship with New Wine continues, through members of our staff team. Chris Fox continues to lead the New Wine Discipleship Year nationally and is running a mentoring group for local church leaders. Many others from St Paul’s continue to serve the ministry of New Wine in a variety of ways including children’s ministry and worship.

We continue to support other ministries locally, such as Ealing Foodbank, Ealing Soup Kitchen, Street Pastors and in many places around the world such as Mozambique, Kenya, India and South Africa.

New and emerging activities

As part of our role as a Resource Church in the London diocese, we are continuing to explore opportunities for church planting or partnerships as we go forwards and what this may involve in the post-pandemic landscape. One of the ways in which we have responded to this is through the launch of the Hub. This is a mental health drop in space which we started in the Autumn with a team of three, open every Tuesday afternoon during term time. We have tea, coffee, arts and crafts on offer as well as quiet corners to reflect or read. Prayer is also offered and it is registered as a warm space.

Our focus on our use of resources and environmental impact has continued and we will be installing solar panels on the roof in April 2023. Whilst this is much delayed, due to Covid and weather constraints, we are pleased that this is finally happening and will enable us to focus on other areas of the building where changes could be made to reduce our carbon footprint. We will be focussing particularly on reviewing our gas heating system, boilers and use of the land surrounding the church.

Financial review

The financial transactions during the year and the financial position at the end of the year are set out in the attached accounts. The members of the PCC consider that the accounts show a satisfactory position.

The continuing generosity of church members enabled the PCC to meet its normal commitments for running and maintaining the Church and its activities. Like many churches, we have carefully managed our expenditure in the light of economic uncertainty and its potential impact on our income.

We received a similar level of income from regular donations, such as planned giving, despite the impact of the war in Ukraine and resulting financial and economic uncertainty though income from one off gifts is lower. The PCC is grateful to all those who contribute financially to the work of the church, without whose generosity we would be unable to serve our community effectively. Collections at services remained below the levels seen in previous years due to lower cash contributions and most of these are made by contactless donations.

Income from rental and lettings is higher than in 2021 as the easing of Covid restrictions meant that many hall users were able to restart their businesses. The PCC also received in full the payment of rent from New Wine which was deferred from July to December.

Our ministry costs were slightly increased in 2022 as many of our groups, activities and ministries were able to slowly resume during the course of the year. During the year the PCC carried out necessary repairs to the church and its other properties and maintained them in good order. A defibrillator and cabinet were fitted to the outside for use by the community and ambulance services and the hall’s sliding doors were serviced. No major projects were completed in the halls or church.

Our current liabilities no longer include a loan from a congregation member for the purchase of a house in 2012 as a donation was received during 2022 which enabled us to repay the remaining amount owing on the loan, in full, resulting in a nil balance outstanding on the loan at the year end.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

THE PCC'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

The PCC expects its regular expenditure commitments in 2023 to be similar to those of 2022 because we will continue with our current ministries and activities. We will finally be able to install solar panels on the church roof in Spring 2023 and, if funding allows, we plan to replace the gas fired heaters in the church nave with a wet central heating system and we have already saved over £100k towards these projects in total. We will continue to save towards this project and complete this as funding allows.

The number of staff is expected to reduce slightly as Tim Radcliffe, our curate, will move on to a new role in June 2023. We are committed to paying all of our staff the London Living Wage. Income is expected to increase in 202 3and activities and staffing will be managed in line with the level of income achieved.

At the balance sheet date the Charity holds reserves totalling £677,802 (2021: £653,355), comprising restricted reserves of £22,413 (2021: £29,514) designated reserves £25,000 (2021: Nil) and unrestricted reserves of £630,389 (2021: £623,841).

Reserves Policy

The Trustees believe that St Paul’s relies on God’s provision for the financial resources needed to fund its work. As a church, we believe that we are called to be good stewards of the resources that have been given to us and so we need to ensure that the level of cash we hold is not higher than needed. The PCC reviewed and updated its reserves policy and level of cover during 2022 to ensure that our reserves continue to match our operating costs. At the accounting date free reserves were £255,246 (2021: £214,175).

In order to allow for fluctuations in the timing of income or in the case of unforeseen expenditure, it is the policy of this church to hold sufficient reserves to cover 8 weeks’ net expenditure after taking into account regular donation income. This means that we will hold (£60k) in cash and in addition to this, we will have an additional 2 weeks held as cash or in social investments (£15k) which can be accessed at after a short notice period. This policy will be reviewed on an annual basis or more frequently if required.

Risk Management

The members of the PCC have reviewed the major strategic and operational risks the PCC faces, through regular meetings of the standing committee and are satisfied that all reasonable measures are in place to mitigate their potential effect. They intend to keep these matters under regular review and consider the controls and procedures to mitigate them. The Governance and Risk Committee meet regularly and to ensure that all risks are actively managed and monitored and that all aspects of governance are considered and any areas of concern or interest are brought to PCC for consideration and action.

The principal risk faced by the PCC lies in the variability of income. The trustees consider variability of income received through planned giving and gifts to constitute the charity’s major financial risk. This is mitigated by a monthly review of income and its sources including monthly cashflow forecasting by the Chair and Treasurer and consideration of actions needed to remediate this, such as a reduction in planned activities and expenditure.

Plans for future periods

The PCC is continuing its plan to enhance the facilities in the church and its halls so that they offer facilities that are fit for purpose and can be a blessing to those who use them. We will continue to reduce our carbon footprint through reducing our energy usage by focussing on other energy saving options once the solar panels are installed. We will also be reviewing the land around the church and redesigning this to encourage biodiversity, native plants and community access. We will also focus on continuing to resource other the other churches in the St Paul’s family.

Structure, governance and management

The PCC has the responsibility for co-operating with the clergy in promoting the whole mission of the Church in the parish and in maintaining the church buildings.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

THE PCC'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

The Members of the PCC who served during the year and up to the date of signature of the financial statements were:

(Resigned 25 September 2022)

Rev Mark Melluish Vicky Read Nick Becker (Resigned 25 April 2022) Rev Chris Fox Emma Buck Alan Philips Ruth Dales Coral Powell Elizabeth Patel Aruliniyan Nathaniel Darren Young (Resigned 25 April 2022) Alison Trott (Resigned 25 April 2022) Nicholas Taylor Timothy Radcliffe Oscar Carshagen (Appointed 25 April 2022) Paul Pambakian (Appointed 25 April 2022) Ms A Couttigane (Appointed 25 April 2022)

The method of election of the PCC members is as set out in the Church Representation Rules and they are appointed at the annual meeting of church members. The full PCC delegates responsibility for overseeing day-today matters to the Standing Committee, the Fabric Committee and the Missions Committee.

The church has sponsored the establishment of a separate charitable trust, the West London Community Trust, the main activity of which is the support of awareness of Christianity in West London. This includes facilitating the New Wine Discipleship Year hub in West London, hosting the Christians Against Poverty debt counselling service, Besom ministry and supporting pastoral work in a local prison.

The PCC consider the senior pastoral team – C Fox, K Cosh, T Carshagen, S Richardson and V Read to be the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis

A number of PCC members give their time freely and no remuneration was paid during the year. Details of the PCC members receiving remuneration during the year are detailed in note to the accounts.

PCC members are required to disclose all relevant interests and register them with V Read in accordance with the PCC's policy to withdraw from decisions where a conflict of interest arises.

The PCC's report was approved by the Board of Members Of The PCC.

Rev Chris Fox

24 April 2023

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

STATEMENT OF THE PCC'S RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

The Members of the PCC are responsible for preparing the PCC's Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Members of the PCC to prepare accounts for each financial year which give a true and fair view of the state of affairs of the PCC and of the incoming resources and application of resources of the PCC for that year.

In preparing these accounts, the Members of the PCC are required to:

The Members of the PCC are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2015 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE PCC OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

Opinion

We have audited the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St Paul's Ealing (the ‘PCC’) for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes 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 Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the PCC in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the The PCC's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the PCC’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Members of the PCC with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Members of the PCC are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF THE PCC OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

Matters on which we are required to report by exception

the information given in the financial statements is inconsistent in any material respect with the The PCC's report; or

Responsibilities of Members of the PCC

As explained more fully in the statement of The PCC's responsibilities, the Members of the PCC are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Members of the PCC determine is 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 Members of the PCC are responsible for assessing the PCC’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Members of the PCC either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected 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 line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF THE PCC OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the members and management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicholas Corden ACA (Senior Statutory Auditor)
for and on behalf of Summers Morgan 6 June 2023
Chartered Accountants
Statutory Auditor First Floor, Sheraton House
Lower Road
Chorleywood
Hertfordshire
WD3 5LH

Summers Morgan is eligible for appointment as auditor of the PCC by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Current financial year
Unrestricted
Designated
Restricted
funds
funds
funds
2022
2022
2022
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
570,239
-
36,903
Charitable activities
4
24,542
-
-
Investments
5
433
-
-
Other income
6
119,644
-
-
Total income
714,858
-
36,903
Expenditure on:
Raising funds
7
2,782
-
-
Charitable activities
8
678,122
-
44,004
(Gain)/Loss on disposal of tangible
fixed assets
13
2,406
-
-
Total expenditure
683,310
-
44,004
Net incoming/(outgoing) resources before
transfers
31,548
-
(7,101)
Gross transfers between funds
(25,000)
25,000
-
Net income/(expenditure) for the year/
Net movement in funds
6,548
25,000
(7,101)
Fund balances at 1 January 2022
623,841
-
29,514
Fund balances at 31 December 2022
630,389
25,000
22,413		 Total
2022
£
607,142
24,542
433
119,644
751,761
2,782
722,126
2,406
727,314
24,447
-
24,447
653,355
677,802		 Total
2021
£
647,035
8,390
89
108,649
764,163
3,244
703,065
-
706,309
57,854
-
57,854
595,501
653,355

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Prior financial year
Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income and endowments from:
Donations and legacies
3
599,873
47,162
Charitable activities
4
8,390
-
Investments
5
89
-
Other income
6
108,649
-
Total income
717,001
47,162
Expenditure on:
Raising funds
7
3,244
-
Charitable activities
8
669,282
33,783
Total expenditure
672,526
33,783
Net incoming/(outgoing) resources before transfers
44,475
13,379
Net income/(expenditure) for the year/
Net movement in funds
44,475
13,379
Fund balances at 1 January 2021
579,366
16,135
Fund balances at 31 December 2021
623,841
29,514		 Total
2021
£
647,035
8,390
89
108,649
764,163
3,244
703,065
706,309
57,854
57,854
595,501
653,355

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Fixed assets
Tangible assets
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
19
Designated funds
20
Unrestricted funds		 2022
£
-
30,696
295,890
326,586
(23,927)		 £
375,143
302,659
677,802
22,413
25,000
630,389
677,802		 2021
£
100
38,714
257,469
296,283
(52,594)		 £
409,666
243,689
653,355
29,514
-
623,841
653,355

The financial statements were approved by the Members Of The PCC on 24 April 2023

Rev Chris Fox Trustee

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
Cash flows from operating activities
Cash generated from operations
24
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
(1,655)
433		 £
39,643
(1,222)
-
38,421
257,469
295,890		 2021
£
(11,175)
89		 £
52,810
(11,086)
-
41,724
215,745
257,469

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

The Parochial Church Council of the Ecclesiastical Parish of St Paul's Ealing is an unincorporated Charity registered with the Charity commission in England and Wales (number 1132598); its principle address is detailed within the legal and administration section of the trustees report.

1.1 Accounting convention

The accounts have been prepared in accordance with the PCC's Powers Measures (1956) as amended, the Church Representation Rules, the Charities Act 2011 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2016). The PCC is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements are prepared in sterling, which is the functional currency of the PCC. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

At the time of approving the accounts, the Members of the PCC have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. Thus the PCC continues to adopt the going concern basis of accounting in preparing the accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Members of the PCC in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the Members of the PCC for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the PCC is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the PCC has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the PCC has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Grants and donations are accounted for when paid away.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Consecrated and beneficed property is excluded from the accounts.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold buildings 2% p.a. on cost
Equipment 25% p.a. on net book value
Fixtures and fittings 10% p.a. on cost
Motor vehicles 25% p.a. on net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Stocks

Stock is valued at the lower of cost and net realisable value.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

1.10 Retirement benefits

The church operates a defined contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

2 Critical accounting estimates and judgements

In the application of the PCC’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

3 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2022
2022
£
£
Donations and gifts
570,239
36,903
Furlough scheme grants
-
-
570,239
36,903
Donations and gifts
Standing orders and other regular giving
454,974
10,041
Collections at all services
9,978
15,248
Gift aid recoverable
97,932
6,108
Other
7,355
5,506
570,239
36,903		 Total
Unrestricted
Restricted
funds
funds
general
2022
2021
2021
£
£
£
607,142
597,290
47,162
-
2,583
-
607,142
599,873
47,162
465,015
491,667
20,713
25,226
6,142
22,921
104,040
99,481
3,528
12,861
-
-
607,142
597,290
47,162		 Total
2021
£
644,452
2,583
647,035
512,380
29,063
103,009
-
644,452

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

4 Charitable activities

Wedding, Wedding,
funeral and funeral and
other fees other fees
2022 2021
£ £
Youth events 8,027 118
Wholeness ministry 3,060 1,738
Language school 3,545 750
Woman's ministry and Men's ministry 1,431 1,126
Senior group 210 -
Great and small 2,055 1,572
Other Income 6,214 3,086
24,542 8,390

5 Investments

**Unrestricted ** Unrestricted
funds funds
general general
2022 2021
£ £
Interest receivable 433 89
Other income
Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Bookstall income 5,903 4,296
Hall Hire income 55,173 39,701
Rental income 58,568 64,652
119,644 108,649

6 Other income

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

7 Raising funds

**Unrestricted ** Unrestricted
funds funds
general general
2022 2021
£ £
Publicity costs
Staging fundraising events 2,782 3,244
2,782 3,244
Charitable activities
Outreach Youth Other Donations Total Total
activities activities activities paid 2022 2021
2022 2022 2022 2022
£ £ £ £ £ £
Staff costs 35,511 1,806 83,058 - 120,375 141,704
Depreciation and
impairment 9,963 507 23,302 - 33,772 33,583
Direct costs 27,522 1,672 170,795 - 199,989 157,054
72,996 3,985 277,155 - 354,136 332,341
Grant funding of
activities (see note 9) - - - 179,223 179,223 177,371
Share of support costs
(see note 10) 54,155 2,754 126,668 - 183,577 188,163
Share of governance
costs (see note 10) 1,531 78 3,581 - 5,190 5,190
128,682 6,817 407,404 179,223 722,126 703,065
Analysis by fund
Unrestricted funds -
general 126,882 6,817 407,404 137,019 678,122 669,282
Restricted funds 1,800 - - 42,204 44,004 33,783
128,682 6,817 407,404 179,223 722,126 703,065

8 Charitable activities

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

(Continued)

For the year ended 31 December 2021

Outreach
activities
Youth
activities
Other
activities
Donations
paid
£
£
£
£
Staff costs
37,361
2,220
102,123
-
Depreciation and impairment
9,907
504
23,172
-
Direct costs
23,692
1,612
131,750
-
70,960
4,336
257,045
-
Grant funding of activities (see note 9)
-
-
-
177,371
Share of support costs (see note 10)
52,299
13,535
122,329
-
Share of governance costs (see note 10)
1,531
78
3,581
-
124,790
17,949
382,955
177,371
Analysis by fund
Unrestricted funds - general
124,587
17,949
382,955
143,791
Restricted funds
203
-
-
33,580
124,790
17,949
382,955
177,371		 Total
2021
£
141,704
33,583
157,054
332,341
177,371
188,163
5,190
703,065
669,282
33,783
703,065

Staff costs are allocated to the charitable activities on the basis of time allocation within the accounting period as identified. This is currently 56% to direct costs and 44% to support costs. The support and governance costs basis of allocation has been set out in note 10 of the accounts.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

9 Grants payable

Donations Donations
paid paid
2022 2021
£ £
Grants to institutions:
West London Community Trust 68,600 71,219
Bihar - 20,262
Redtribe 6,583 9,653
India appeal - 6,500
Grove mission funding 9,833 7,500
Great Lakes Outreach 23,802 6,654
St Mellitus 3,000 5,000
Tearfund 38,701 4,700
Housing for Women - 4,654
Power the fight - 4,654
St John's Greenhill - 4,000
Soul in Ealing - 3,000
Oasis Church 1,500 3,000
Sozo Foundation 3,300 2,500
Ealing Foodbank 2,000 1,500
Other 2,954 7,575
160,273 162,371
Grants to individuals 18,950 15,000
179,223 177,371

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

10
Support costs

Staff costs
Premises expenses
Administrative expenses
Audit fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
89,581
-
58,698
-
35,298
-
-
5,190
183,577
5,190
183,577
5,190		 2022

£
89,581
58,698
35,298
5,190
188,767
188,767		 Support
costs
Governance
costs
£
£
116,289
-
45,469
-
26,405
-
-
5,190
188,163
5,190
188,163
5,190		 2021
£
116,289
45,469
26,405
5,190
193,353
193,353

Support and governance costs are allocated to the charitable activities on the basis of activity allocation within the accounting period as identified. This is currently 29.5% to Outreach activities, 1.5% to Youth activities and 69% to Other activities. The exception to this is support costs wholly incurred in respect of a charitable activity, where the full cost is allocated to the relevant activity.

Governance costs includes payments to the auditor of £5,190 (2021 - £5,190) for audit and accountancy fees.

11 Members Of The PCC

Five of the Members of the PCC received remuneration during the year on normal terms for church work. Normal expenses incurred on church activities were reimbursed to clergy and church workers.

12 Employees

The average monthly number of persons employed by the charity during the year was:

Pastoral, evangelism, etc.
Administration
Premises
Cleaning
Total		 2022
Number
6
5
-
1
12		 2021
Number
7
4
1
1
13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

12
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
13
(Gain)/Loss on disposal of tangible fixed assets		 (Continued)
2022
2021
£
£
188,345
228,977
8,688
12,870
12,923
16,146
209,956
257,993		 (Continued)
2022
2021
£
£
188,345
228,977
8,688
12,870
12,923
16,146
209,956
257,993
257,993
Net loss on disposal of tangible fixed assets
Tangible fixed assets
Cost
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation and impairment
At 1 January 2022
Depreciation charged in the year
Eliminated in respect of disposals
At 31 December 2022
Carrying amount
At 31 December 2022
At 31 December 2021		 Unrestricted
funds
general
2022
2,406
2,406
Freehold
buildings
Equipment
Fixtures and
fittings
Motor vehicles
£
£
£
£
469,480
154,080
226,241
9,949
-
1,656
-
-
-
(26,700)
-
-
469,480
129,036
226,241
9,949
175,717
135,867
131,699
6,802
9,128
4,967
18,890
787
-
(24,294)
-
-
184,845
116,540
150,589
7,589
284,635
12,496
75,652
2,360
293,763
18,213
94,542
3,148		 Total
£
2021
-
-
Total
£
859,750
1,656
(26,700)
834,706
450,085
33,772
(24,294)
459,563
375,143
409,666

14 Tangible fixed assets

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

15
Stocks
Raw materials and consumables
16
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
-
2022
£
2,825
27,871
30,696
2022
£
1,052
17,297
5,578
23,927		 2021
£
100
2021
£
3,725
34,989
38,714
2021
£
1,298
44,426
6,870
52,594

18 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to the income and expenditure account in respect of defined contribution schemes was £12,922 (2021 - £16,146).

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 January 2021 resources expended 1 January 2022 resources expended 31 December
2022
£ £ £ £ £ £ £
Missions and
UK charities 10,512 40,621 (27,283) 23,850 21,530 (29,637) 15,743
Outreach
activities - 148 - 148 150 - 298
Other church
activities 5,623 6,393 (6,500) 5,516 15,223 (14,367) 6,372
16,135 47,162 (33,783) 29,514 36,903 (44,004) 22,413

Missions and UK Charities - For payments to mission activities supported by the PCC and donations to UK and overseas charities.

Other Church Activities - For activities relating to general support and maintenance of the church.

Outreach Activities - For supporting activities in the local community.

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement Movement
in funds in funds
New
Balance at		 New Balance at
designations 1 January 2022 designations 31 December
2022
£ £ £ £
Solar panels project - - 25,000 25,000
- - 25,000 25,000

The designated fund is for projects and activities that have the aim of reducing our environmental impact, such as installation of solar panels, review of current heating system, and other related activities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

21
Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
funds
2022
2022
2022
£
£
£
Fund balances at 31 December 2022 are represented by:
Tangible assets
375,143
-
-
Current assets/(liabilities)
255,246
25,000
22,413
630,389
25,000
22,413		 Total Unrestricted
funds
Restricted
funds
2022
2021
2021
£
£
£
375,143
409,666
-
302,659
214,175
29,514
677,802
623,841
29,514		 Total
2021
£
409,666
243,689
653,355

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

22 Operating lease commitments Lessor

The operating leases represent leases of land and buildings to third parties.

At the reporting end date the PCC had contracted with tenants for the following minimum lease payments:

Within one year
Between two and five years		 2022
£
35,000
8,750
43,750		 2021
£
35,000
43,750
78,750

23 Related party transactions

During the year the following trustees were directors or members of related entities or were connected to people or organisations in receipt of payments from St Paul's PCC:

Trustee Related Party
M Melluish (Resigned 25.09.22) Chair of St. Pauls Community Playschool
C Fox Trustee of St Paul's Community Playschool
V Read West London Community Trust

During the year the following related entities had amounts either made to them or amounts owed to or by them with St Paul's PCC:

West London Community Trust - Grant payments made during the year with a total of £65,600 (2021 - £71,219); these include donations made to them from St Paul's PCC for the costs of the mortgages for properties held in West London Community Trust.

Remuneration of key management personnel

The remuneration of key management personnel is as follows:

2022 2021
£ £
Aggregate compensation 108,452 95,866

During 2022 the following key management personnel were members or connected to members of the PCC: Rev C Fox (member), Mr S Richardson (member), Mrs K Cosh, Mrs T Carshagen and Mrs V Read (member). All these people were working full time or part time for the charity at some point during 2022. The cost of the Clergy are accounted for in the payments to the London Diocese. Part of this fund pays the stipend of the vicar. As is standard practice within the Church of England, the vicar receives either housing or housing benefit.

Aggregated donations received from the trustees or related parties without conditions were £46,046 (2021 - £44,531).

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

24 Cash generated from operations 2022 2021
£ £
Surplus for the year 24,447 57,854
Adjustments for:
Investment income recognised in statement of financial activities (433) (89)
Loss on disposal of tangible fixed assets 2,406 -
Depreciation and impairment of tangible fixed assets 33,772 33,583
Movements in working capital:
Decrease in stocks 100 200
Decrease/(increase) in debtors 8,018 (9,628)
(Decrease) in creditors (28,667) (29,110)
Cash generated from operations 39,643 52,810
25 Analysis of changes in net funds

The PCC had no debt during the year.