Charlty reglstration number 1132598 (England and Wales) THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING LEGAL AND ADMINISTRATIVE INFORMATION Members Of The PCC Vicky Read Alan Philips Elizabeth Palel Aruliniyan Nathaniel Nicholas Taylor Oscar Carshagen Paul Pambakian Anusha Couttigane Stephanie Ajayi Robert Danlel Andrew Statham Rev Ben Evans (Appointed 20 May 2024) (Appointed 20 May 2024} (Appointed 30 June 2024) Charlty number (England and Wales} 1132598 Independent examlner 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
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING CONTENTS Page The PCC'S report Independenl examiner's report Stalement of financial activities Balance sheet Statement of cash flows 10 Notes to the financial statements
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING THE PCC'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The members of the PCC present their report and accounts for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounling policies sel out in note 1 to the financial statements and comply with the PCC'S Powers Measures11956) as amended, the Charities Act 2011 and "Accounting and Reporting by Charities: Stalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}" (effective 1 January 2019}. Objectives and activltles Our vision at st Paul's Church is to be a church where everyone is madè welcome and everyone knows that they malter, both lo us as a community and to God. We belleve that everyone has something to brlng that will add colour and crealivily to the church family. Our simple slrapline is based on the Greatest Commandment that Jesus gave loving God and loving our neighbour. We are committed to following and trying to live like Jesus, ar¢d as the disciple Paul encourages us, we need to let love be our highost goal. This moans we look for ways to love and serve each other and our wlder communlty. And if we make love our highest goal, we need lo be those who receive love and give love to others. Our mission statement is as follows.. - To see Ihe kingdom of God grow in our community To live as a Christian community, devoted to God and to one another To share our lives togethèr both practically and spiritually To grow in prayer, worship, and our understanding of the Bible - To witness lo Christ's love and mercy in our community and beyond To be open to the Holy Spirit in all that we do As a church, we believe that God is calling us lo something bigger than we are currenlly, and tho Diocese of London has appointed St Paul's to be one of ils Resource Churches. Our vision for this is that we will plant new churches in communilies with no church presence, help to revitalise and renew existing ohurches, 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 Ihe 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 declding what activities the PCC should undertake. Achlevements and performance 2024 was a year when we gave some focus lo three main areas.. inviting people lo follow Jesus, investing in our younger generations, and inspiring one another to grow as disciples of Jesus. At the end of 2024. it was so encouraging to see fruit in all of these areas of church life. There were some staff changes, with new people arriving and others changing roles. We welcomed Olivia as our new Worship Pastor. In the summer, Elizabeth Palel joined Ihe staff as our Children's Pastor, with Karen Cosh becoming an Assistant Pastor with responsibility for pasloral Care and the Wholeness Centre. Ben Evans arrived as our new Curate, along with his wife, Laura, and their daughter. Paul Pambakian took over as Church Warden, following Emma Buck, who had served for 7 years.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING THE PCC'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Established ministries our deslre to serve our local community is one that trumps almost everythlng 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 you love yourself. In 2024, we showed that we have found differenl ways of fulfilling both of these. Some of the highlights are.. CAP Job Club: We helped 38 people on their journey into employment through the Steps lo Employment ¢ourses over the year, and at least 5 are now in lobs. Eallng Communlty School of English conlinued to operate with lessons on two evenings a week, and somewhere around 400 look part in the language school in 2024. Students al the langua9e school are often new to the UK and include poople from Sudan, Poland, Hong Kong, Ukraine, Syria, and Iran, as well as many other places. The government's "no recourse to pvbllc funds" policy means that we are the only English language school available to many of our studonls. Our in-person prison mlnlstry into Wormwood Scrubs continues, and we ran three Sycamore Tree Victlm Awareness and Resloralive Justice courses alongside the Sunday services and Bible studies, We also supported the Angel Tree project, which enables Christmas presents to be sent to the children of prisoners on Iheir dad or mum's behalf, with gift tags written by the mum or dad in prison. The Prison Fellowship's (PF) Wormwood Scrubs Group meets monthly to pray for the prison - staff, prisoners, families and other needs. Through Beloved, we have continued to visit Soulhall Broadway monthly and have mel with a growing number of working girls and built up their trust where they are mostly really happy lo lalk to us. We are working closely wlth the police to visit brothels and explore potential Involvement in offering safe houses. Our children's ministry has continued to grow, with an increase in thoso attending groups on a Sunday. Bump to Baby has continued to run wlth two groups each time and provides a vital outreach lo new mums in the community, offering a sense of support., We are seeing families who have come to this begin to attend olh8r evenls, which is great. We ran the 'When Dreams Change. course, a four-week course devised by the charity Growing Hope. It aims lo help parents and carers of children with additional needs reflect on their experiences and become more of the person they have been created to be. Great and Small continues to be a brilliant group for parents, carers, and preschool Children. It has been a joy to welcome a number of families from these minlstries to our Sunday services. Lots have continued with our different groups for Youth, and we've welcomed a number of new teenagers. In 2024, we saw continued growth in youth ministry across local churches, with more than 100 young people coming together for different events in different locations. 11 has been an amazing blessing lo work togelher in this way. In our Womon's ministryi Connect conllnues to provide opportunities for women lo meet with each other. Each week we have worship, teaching, and group time with about 40 women on a weekly basis who split into 5 groups. There were breakfasts that were run during the year for Awaken. we had delicious food as usual and a wonderful lime ofworship and hearing people share their personal journeys of faith. The Wholeness Centre continued to operate through the year, offering counselling, Iherapy. and healing prayer. The need in our community for support with mental health challenges continues lo grow and th8 Wholeness Centre is a signlflcant resource for many people both wllhln and outside St Paul's The Senlors group meets after midweek communion and has 30 members who meet for Bible study, fellowship, food, and fun. We run other events from time to time, including walks and pub lunches. In September 2024, we had one New Wlne Dlsclpleshlp Year student and one Church of England Ministry Experience Scheme student, both of whom work across our family of churches, supporting our children's, youth, and other ministries.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING THE PCC'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 We continue to support other local ministries, such as Mindfood and the CAP Debt Cenlre, as well as other churches in thelr outreach, including St Mellitus Hanwell and St Stephen's Shotlermill. New and emerging actlvltles As parl of our role as a Resource Church in the London Diocese, we are continuing to explore opportunities for church planting or partnerships, as well as how we might support churches around us that are in inlerregnum. We hope this will develop further in the coming years. Chris Fox, our vicar, Is moving to lead St Barnabas Cambridge and will finish on 27th April 2025. As a PCC, we will be working closely with the Diocese and our church family as we go through the process of appointing a new vicar and managing the church during the interregnum. Financial review The financlal transactions during the year and the financial position at the end of the year are sel out in the altached accounts. The members of the PCC consider that the accounts show a satisfactory position. Donations, mainly planned giving, wore slightly down year on year reflecting a chang6 in circumstances of a small proportion of givers, this was however countered by an increase in tax recovery with all gift aid claims now up to date. Donations are expected to remain broadly flat in 2025 with a modest increase in underlying giving being offset by annualization of the 2024 downsides. Other income increased in the year as wo cothmercially rented one of our properties thal has been occupied by a staff member previously. The longstanding rental of office space to New Wine Comes to an end in 2025 and the PCC is exploring alternalive arrangements to replace this renlal income by other means, most likely a commercial lettlng. We work to the principle of matchlng our expenditure to income, however given the lower glving this year that has not been possible with Ihe PCC making a decision, given the strengih of our reserves, lo maintain staffing and ministry levels. Expenditure was lower than Ihe previous y8ar following the one-off investment in solar panels in 2023. This has also led to a material reduction in our electricity costs in 2024 reftecting a good financial return on the investmenl as well as the obvious ènvironmental benèfit. Staffing increased with a new curate joining mid-year and a children's worker appolnted in September, this together with an annual pay review, increased costs although in line with plan. All other costs were held at a similar level lo 2023. During the year, the PCC carried out necessary repairs to the church and its other properties, maintaining them in good order. The PCC expects ils regular expendlture commitments in 2025 to be slmilar lo those of 2024 as wa again look to maintain all current church activity and ministry. The declining giving levels are likely lo result in a deficit position in the year. We will monitor this closely and take necessary action to ensure its kept as low as possible and in line with budget. At the balance sheel date, the charity holds reserves lotalling £545,468 (2023: £583,032), comprising restricted funds £4,391 12023: £8,463}, designated reserves £Nil (2023.. £Nil), and unrestricted reservos of £541,07712023.' £574.569). Reserves Policy Thè Trustees believe thal St Paul's relies on God's provision for the financial resources needed to fund ils work. As a church. we believe that we are called to be good stewards of Ihe resoLFrces thal have been given to us, so we need lo @nsure that the levol of cash we hold is not higher than needèd. The PCC reviewed ils reserves policy and level of cover during 2024 to ensure that our reserves continue to match our operating costs. In order to allow for fluctuations in the timing of income or in Ihe case of unforeseen expenditure, it is the policy of this church to hold sufficient reserves to cover 8 weeks, nel 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 b8 accessed after a short notice period. This policy will be reviowed on an annual basis or more frequently if required. At the accounting date, free reserves were £194,854 (2023.. £218,488).
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING THE PCC'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Rlsk Management The members of the PCC have reviewed the major slrategic and operational risks the PCC faces Ihrough regular meetings of the standing commitlee and are salisfied thal all reasonable measures are in place to miligale their potential effecls. They intend to keèp these matters under regular review and conslder the controls and procedures lo mitigate them. The Governance and Risk Commitlee meet regularly to ensure that all risks are actively managed and monitored and Ihat all aspects of governance are considered, bringing any areas of concern or inlerest to the PCC for consideralion and action. The principal risk faced by the PCC lies in the variability of income. The trustees consider variabillty of income received Ihrough 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 monlhly cash flow 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 perlods The PCC is continuing its plan to enhance the facililies in the church and its halls so that they offer facilities that are fil for purpose and can be a blessing to Ihose who use them. We will Continue to reduce our carbon footprint by focusing on other energy-saving options now that the solar panels are installed. We will also continue to review the land around the church and redesign it to encourage biodiversity, native planls, and community access. Lastly, we will focus on continuing lo resource other churches In Ealing as they go through periods of vacancy. Structurej 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 members of the PCC who served during the year and up to the date of signature of the financial slatements were.. Vicky Read Rev Chris Fox Emma Buck Alan Philips Ruth Dales Elizabeth Patel Aruliniyan Nathaniel Nicholas Taylor Oscar Carshagen Paul Pambakian Anusha Coultigane Stephanie Ajayi Robert Daniel Andrew Slatham Rev Ben Evans (Resigned 27 April 2025) (Resigned 20 May 2024) (Resigned 20 May 2024) (Appoinled 20 May 2024) (Appolnted 20 May 2024) (Appointed 30 June 2024) 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 responsibllity for overseelng day-to- day matters to the Standing Committee, the Fabric Committee and the Misslons Committee. The church has sponsored the establishment of a separate charitable trust, the West London Community Trust, whose main activity is to support awareness of Christianity in West London. This includes facilitating the New Wine Disciplèship Year hub in West London and hosting Ihe Christians Against Poverty debt counselling service.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING THE PCC'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The PCC consider the senior pastoral leam- C Fox, K Cosh, T Carshagen, S Richardson and V Read to be the key management personnel of the charity, responsible for directing, controlling, and operallng 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. Delails of the PCC members receiving remuneration during the year are detailed in the notes 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 aris8s. The PCC'S report was approved by the Board of Members Of The PCC. Alan Philips 28 May 2025
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PCC OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING I report lo the members of the PCC on my examination of the financial stalemenls of The Parochial Church Council of the Ecclesiastical Parish of Sl Paul's Ealing (the PCC} for Ihe year ersded 31 December 2024. Responsibilities and basis of report As the members of the PCC you are responsible for the preparation of the financial statements in accordance with Ihe requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the PCC'S financial slalements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions glven by the Charity Commission under section 145(5)(b) of Ihe 2011 Act. Independent examlner's statement Slnce the PCC'S gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of Ihe Charities Act 2011. 1 confirm that l am qualified lo undertake thé examination because l am a member of the Institute of Chartered Accounlants in England and Wales, which is one of the listed bodies. Your attention is drawn to the fact Ihal the PCC has prepared financial statements in accordance with Accounting and Reporling by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) in preference to the Accounting and Reporting by Charities- Slatement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has now been withdrawn. l undorstand Ihat this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connectlon with the examination giving ine cause lo believe that in any material respect.. accounting records were not kept in respect of the PCC as required by s8clion 130 of the Charities Act 2011. the financial statements do not accord with those records. or the financial stalements do not comply with the applicable requiremenls concerning the form and content of financial slalements set out in the Charities (Accounts and Reports} Regulalions 2008 other than any requirement that the financial stalements glve a true and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which atlenlion should be drawn in this report in order to enable a proper understandlng of the flnancial slatements lo be reached. Nicholas Corden ACA Summers Morgan First Floor, Sheraton House Lower Road Chorleywood Hertfordshlre WD3 5LH Dated- 10 June 2025
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 2024 Current financial year Unrestricted Restricted funds funds 2024 2024 Total Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Investments Other income 523,134 28,331 3,294 165,365 18,513 541,647 28,331 3,294 165,365 527,812 32,417 2,442 146,557 Total Income 720,124 18,513 738,637 709,228 endlture on: Raising funds 2,807 2,807 2,264 Charitable activities 750,029 23,224 773,253 800,791 IGain)ILoss on disposal of tangible fixed assets 14 141 141 943 Total expendltu 752,977 23,224 776,201 803,998 Net outgoing resources before transfers {32.853) (4,711) (37,564) (94,7701 Gross transfers between funds {639) 639 Net expenditur8 for the yearl Net movement in funds (33,492) (4,072) {37.564) (94,770) Fund balances al 1 January 2024 574,569 8.463 583,032 677,802 Fund balances at 31 December 2024 541.077 4,391 545,468 583,032 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 2024 Prior financlal year Unrestrlcted Deslgnated Restricted funds funds funds 2023 2023 2023 Total 2023 Notes Income and end Donatlons and legacies Charitable activities Investments Other income nts from: 515.455 32,417 2,442 146,557 12.357. 527,812 32,417 2,442 146.557 Total Income 696.871 12,357 709,228 Raising funds 2,264 2.264 Charitable activitles 755,002 25,000 20,789 800,791 (GainyLoss on disposal of tangible fixed assets 943 943 Total expendlture 758.209 25,000 20,789 803,998 Net outgoing resources before transfers (61,338) (25,000) (8,432) 194,770) Gross transfers between funds 5,518 (5,518) Net expendlture for the yearl Net movement In funds (55,820) (25,000) (13,950) {94,770) Fund balances at 1 January 2023 630.389 25,000 22.413 677,802 Fund balances at 31 December 2023 574,569. 8,463 583,032
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets Mixed motive investments 15 16 336,223 10,000 346,081 10.000 346,223 356.081 Current assets Debtors Cash at bank and in hand 17 46.142 178.423 20,658 228,592 224.565 249.250 Creditors: amounts falling due within one year 18 (25,320) {22.299) Net current assets 199,245 226,951 Total assets less current liabilities 545,468 583.032 The funds of the PCC Restricted funds Unrestricted funds 20 4,391 541,077 8.463 574,569 545.468 583,032 The financial statements were approved by the members of the PCC on 28 May 2025 Alan Philips Trustee
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operatlng actlvltles Cash absorbed by operations 24 {30,885} (65,980) Investlng a¢tlvities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income received {22,578) (3,759) {1) 2,442 3,294 Net cash used in investing activities (19,284} (1,3181 Net cash generated from flnancing actlvltles Net decrease in cash and cash equlvalents (50,169) {67,298) Cash and cash equivalents at beginning of year 228,592 295,890 Cash and cash equlvalents at end of year 178,423 228,592 10-
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policles Charity informatlon The Parochial Church Council of the Ecclesiastical Parish of St Paul's Ealing is an unincorporated Charlty registered with the Charity commission in England and Wales (number 1132598); its principle address is detailed within the legal and administrative page. 1.1 Accounting conventlon The accounts have been prepared in accordance wilh the PCC'S Powers Measures (1956} as amended, the Church Representation Rules, the Charities Act 2011 and "Accounting and Reporting by Charities: Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (as amended for accounting periods commencing from 1 January 2019}. The PCC is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities {Accounls and Reports} Regulations 2008 only to the extent requlred 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 Slalement 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 sterllng, which is the functional currency of the PCC. Monetary amounts in these financial statements are rounded to the nearesl £. 1.2 Golng concern At the lime of approving the accounts, the members of th8 PCC have a reasonable expectation Ihal 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 Charltable funds Unrestrioled funds are available for use at the discretion of the members of the PCC in furtherance of their charilable objectives. Designated funds comprise funds which have been set aside at the discretion of Ihe members of the PCC for specific purposes. The purposes and uses of Ihe designated funds are sot out in the notes to the financial statements. Reslricled funds are subject to specific conditions by donors Or grantors as lo how they may be used. The purposes and uses of the reslricted funds are sel out In the notes to the financial statements. 1.4 Income Income is recognlsed wherl the PCC is legally enlilled to It after any performance conditions have been mat, the amounls 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 beon notified of the donalion, 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. Legacles are recognised on receipt or otheiSe if the PCC has been notified of an impendlng distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is Irealed as a contingent asset. 11
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 2024 A¢¢ounting policies (Contlnued) 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefil to a third party, It is probable that a transfer of economic benefits will be required in settlemenl. and the amount of the obligation can be measured reliably. Expendilure is classified by activity. The costs of each actlvlty are made up of the tolal of direct costs and shared costs, including support costs involved in undertaking each aclivity. Direct costs atlributable to a single activity are allocated directly lo thal actlvity. Shared costs whl¢h conlribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depre¢lation 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 properly is excluded from the accounts. Depreciation Is provided at rates calculated to write off the cost less estimated residual value of each asset over ils expected useful life, as follows: Freehold buildings Equipment Fixtures and fittings Motor vehicles 2.10 p.a. on cost 25 /0 p.a. on net book value 100/0 p.a. on cost 25Q/o 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 Incomel{expenditure) for the year. 1.7 Flxed asset investments Fixed asset investments are initially measured at transactlon price excluding transaction ¢osls, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net inGomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other shorl-lerm liquid investments with original maturllies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financlal instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrvments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured al the carrying value plus accrued interest less repayments. The financlng charge to expenditure is at a constant rate calculated using the effective interest method. 12-
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 2024 A¢countlng policies (Continued) 1.10 Retirement benefits The church operates a definéd contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme. Critl¢al accounting estimates and Judgements In the applicatlon of the PCC'S accountlng 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. Thè estimates and associated assumptions are based on hislorical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are revlewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which Ihe estimalè is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affecls both current and future periods. Income from donations and18ga¢ies Unrestrlcted Restrlcted funds funds 2024 2024 Tolal Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Standing orders and other regular giving Collections at all services Gift aid recoverable Olher 408,595 9,716 94,823 10,000 9,197 9,316 417,792 19,032 94,823 10,000 427,439 8,092 78,427 1,498 866 11,206 116 169 428,305 19,298 78,543 1,667 523.134 18,513 541,647 515,455 12,357 527,812 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 2024 Charitable activities Wedding, Weddlng, funeral and funeral and other fees other fees 2024 2023 Youth events Wholeness ministry Language school Woman's mlnislry and Men's ministry Senior group Great and small other Income 11,653 3,040 835 1,795 572 3,088 7,348 3,260 2,685 2,295 2,597 273 2,814 18,493 28,331 32,417 Income from Investments Unrestrlcted Unrestrlcted funds funds 2024 2023 Interest receivable 3,294 2,442 other income Unrestrlcted Unrestrlcted funds funds 2024 2023 Bookstall income Hall Hire income Rental income Van income 850 78,145 85,853 517 1,841 53,665 84,430 6,621 165,365 146,557 14-
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 2024 Expenditure on ralsing funds Unrèstricted Unrestricted funds funds 2024 2023 Publlcity costs Staging fundraising events 2,807 2,264 Expenditure on charitable activities Outreach actlvities 2024 Youth actlvltles 2024 Other Donations activities paid 2024 2024 Total 2024 Staff costs Depreciation and impairment Direct costs 44,60.6 9.527 37,125 2,268 485 1,723 104.332 22,284 171,304 151,206 32,296 210,152 91,258 4,476 297,920 393,654 Grant funding of activities (see note 9) 162,064 162,064 Share of support and governance costs (see note 10) Support 62,846 Governance 1,327 3,196 68 146,994 3,105 213,036 4,500 155,431 7,740 448,019 162,064 773,254 Analysis by fund Unrestricted funds - general Restricted funds 155,431 7,739 448,019 138,840 23,224 750,029 23,224 155,431 7,739 448,019 162.064 773,253 Staff costs are allocated to the charitable acllvilies on the basis of time allocation within the accounting period as idontified. This is currently 560/0 to dlrect costs and 440/0 to support costs. The support and govemance costs basis of allocation has been set oul in note 10 of th8 accounts. 15-
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 2024 Expendlture on charitable activities {Continued) Previous year: Outreach actlvlties 2023 Youth activities 2023 Other Donations activities pald 2023 2023 Total 2023 Staff costs Depreciation and Impairment Direct costs 43,256 9,404 40,297 2,200 478 796 101,174 21,998 149,439 146,630 31,880 190,532 92,957 3,474 272.611 369,042 Grant funding of activities (see note 9) 159.129 159.129 Share of support and governance costs {see note 10) Support 78,941 Governance 1.482 4,014 75 184,642 3,466 267,597 5,023 173,380 7,563 460,719 159.129 800,791 Analysls by fund Unrestricted funds - general Unrestricted funds - Designated Restricted funds 166,005 7,375 7,188 375 443,469 17,250 138,340 755,002 25,000 20,789 20,789 173.380 7,563 460,719 159,129 800,791 16-
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 2024 Grants payable Donatlons pald 2024 Donations paid 2023 Grants lo institulion5'. West London Community Trust Bihar Redtribe Growing hope Grovo mission fundlng Hope for justice st Mellitus Tearfund St Stephen's Shotlermill Blank Canvas Prison fellowship Soul in Ealing Oasis International Sozo Foundation Open Door Other 71,489 950 8,812 5,800 9,500 3,970 4,000 16,167 4,000 2,750 2,500 3,000 2,000 2,500 2,000 9,126 76,506 1,000 19,561 9,500 4,000 5,119 2,500 23,871 148,564 142,057 Grants lo individuals 13,500 17,072 162,064 159,129 10 Support costs allocated to actlvltles 2024 2023 Staff costs Premises cosls Administrative costs Governance costs 118,112 73,274 21,649 4,500 109,963 126,926 30,708 5,023 217,535 272,620 Analysed between: Outreach activities Youlh activilies Olher activities 64,173 3,263 150,099 80,423 4,089 188,108 217,535 272,620 17-
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 2024 10 Support costs allocated to activitles (Continued) Support and governance costs are allocaled to the charitable activities on the basis of activity allocation within the accounting period as identified. Thls is currently 29.50/0 to Outreach activities, 1.5 % lo Youth acllvities and 690/0 to Other activities. The exception to this is support costs wholly Incurred in respect of a charltable acllvity, where the full cost is allocated to the relevant activity. Governance costs include payments lo the Independenl Examiner of £4,500 {2023 - £5,023) 2024 11 Net movement in funds 2023 The net movement in funds is slated after chargingl(crediling): Fees payable for the independent examlnation of the charity's financial slatements Depreciation of owned tangible flxed assets Loss on disposal of tangible fixed assets 4,500 32,296 141 5,023 31,880 943 12 Members Of The PCC One 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. 13 Employees The average monthly number of persons employed by Ihe charity during the year was.. 2024 Number 2023 Number Pastoral, evangelism, etc. Administration Cleaning Total 13 15 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 239,683 13,325 16,310 230,573 11,794 14,226 269,318 256,593 There were no employees whose annual remuneration was more than £60,000. 18-
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 2024 13 Employees (Contlnued) Remuneration of key management personnel The remuneration of key management personnel is as follows.. 2024 2023 Aggregale compensation 104,810 111,786 During 2024, the following key management personnel were members or connected to members of Ihe PCC.. Rev C Fox (member), Mrs T Carshagen (member), Mr S Richardson (member), Mrs V Read (member), and Mrs K Cosh. All these people were working full-time or part-time for the charity at some point during 2024. The cost of the clergy is accounted for in the payments lo the London Diocese. Part of this fund pays the stipend of the vicar. As is standard practice within the Church of England, Ihe vicar receives either housing or houslng benefil 14 Loss on dlsposal of tangible fixed assets Unrestricted Unrestrlcted funds funds general general 2024 2023 Net loss on disposal of tangible fixed assets 141 943 141 943 15 Tangible fixed assets Freehold bulldings Equlpm&nt Flxtures and Motor vehl¢les flttlngs Total Cost Al 1 January 2024 Additions Disposals 469,480 3,880 122,717 17,656 (141) 226,241 1,042 9.949 828,387 22,578 (141) At 31 December 2024 473,360 140,232 227,283 9,949 850,824 Depreciation and impairment At 1 January 2024 Depreclalion charged in the year 193,972 9,158 110,676 3,753 169,478 18,942 8,179 443 482,305 32,296 At 31 December 2024 203,130 114,429 188,420 8,622 514,601 Carrying amount At 31 December 2024 270,230 25,803 38,863 1,327 336,223 Al 31 December 2023 275,507 12.041 56,763 1,770 346,081 19-
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 2024 16 Mlxed motive Inveslments Green pastures Al 1 January 2024 Advances Recovered 10,000 10,000 (10,000) At 31 December 2024 10,000 17 Debtors 2024 2023 Amounts falling due withln one year: other debtors Prepaymenls and accrued income 675 45,467 1,875 18,783 46,142 20,658 18 Creditors: amounts falling due within one year 2024 2023 Trade credltors Other creditors Accruals and deferred income 575 10,931 13,814 958 14,701 6,640 25,320 22,299 19 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profil or loss in respecl of defined contribulion schemes 16,310 14,226 The charity operates a defined contribution pension scheme for all qualifying employèes. The assets of th8 scheme are held separately from those of the charity in an independently administered fund. -20-
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 2024 20 Restrlcted funds The restricted funds of the PCC comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At 1 January 2024 Incoming resources Resources expended Transfers At31 December 2024 Missions and UK charities Outreach activities other church activities 7,040 335 1,088 18,513 {22,134) 637 4,056 335 (1,090) 8.463 18,513 {23,224) 639 4,391 Previous year". At 1 January 2023 Incomlng resources Resources expended Transfers At31 December 2023 Missions and UK charities Outreach activities Other church activities 15,743 298 6,373 6,846 37 5,474 {15,548) 7,041 335 1,088 (5,2411 (5,518) 22,413 12,357 (20.789) (5,518) 8,463 Mlsslons and UK Charltles - For payments to mlssion activities supported by the PCC and donations to UK and overseas charities. Other Church Activilles For activlties relating to general support and maintenance of the church. The transfer represents the capital element held within restricted funds spent on sound equipment in a prior year, to be reallocated lo the unrestricted funds. Furthermore, it involvès the Iransfer of funds spent on renovalion works which were expensed through unrestricted funds in a prior year but should have been expensed through restricted funds. Outreach Actlvltles - For supporting activities in the local community. 21
THE PAROCHIAL CHVRCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL'S EALING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 December 2024: Tangible assets Mixed motive investments Current asset41(liabilities) 336,223 10,000 194,854 336,223 10,000 199,245 4,391 541,077 4,391 545,468 Unrestrl¢ted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Tangible assets Mixed motive investments Current assetsl(liabilities) 346,081 10,000 218,488 346,081 10,000 226,951 8,463 574,569 8,463 583,032 22 Operating lease commitments Lessor The operating leases represent leases of land and buildings to third partie5. At the reporting end date the PCC had contracted with tenanls for the following minimum lease payments: 2024 2023 Within one year 4.375 8,750 -22-
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 2024 23 Related party transactlons During the year the following trusteès were directors or members of related entities or were connected to people or organisations in receipt of payments from St Paul's PCC.. Trustee Relaled Party CFOX Trustee of St Paul's Communily Playschool and of West London Community Trust West London Communily 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- V Read West London Community Trust - Grant payments made during the year totalled £71,489 {2023 - £76,506). these include donations made to them from St Paul's PC.C for the costs of mortgages for properties held in West London Community Trust. Aggregated donations recelved from the trustees or related partles without conditlons were £37,451 (2023 £29,530), and wilh conditions were £412 (2023- £353). 24 Cash absorbed by operations 2024 2023 Deficit for Ihe year {37.564) (94,770) Adjustments for: Investment income recognised in statement of financial aclivitles Loss on disposal of langible fixed assels Depreciation and impairment of tangible fixed assets (3,294) 140 32,296 (2,442) 942 31,880 Movements in working capltal: Decreasellincrease} in mixed motlve inveslments (Increase)Idecrease In debtors Increasel{decrease) in creditors (10,000} 10,038 (1,628) (25,484} 3,021 Cash absorbed by operations {30,885) 165,9801 25 Analysis of changes in net funds The PCC had no material debt during the year. -23-