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2021-12-31-accounts

ALL SOULS CHURCH, LANGHAM PLACE 2 ALL SOULS PLACE LONDON W1B 3DA

ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31 DECEMBER 2021

The Reverend Charles Skrine 12 Weymouth Street London W1W 5BY

Bank

Barclays Bank plc UK House 180 Oxford Street London W1D 1EA

Auditors

Griffin Stone Moscrop & Co 21-27 Lamb's Conduit Street London WC1N 3GS

The PCC is a registered charity Charity Reg. No. 1132882

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE CONTENTS

Page
Annual report 1 - 6
Independent auditors' report 7 - 8
Statement of financial activities, including the income and expenditure account 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 28

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE ANNUAL REPORT 2021

The council members have pleasure in presenting their report and the financial statements of the charity for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and comply with the Church Accounting Regulations 2006, 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 to the UK and Republic of Ireland (FRS 102) issued in October 2019

REFERENCE AND ADMINISTRATIVE INFORMATION

Council members

Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. During 2021 and up to the date the financial statements were approved (unless stated otherwise), the following served as members of the PCC:

Clerks in Holy Orders: Reverend Charles Skrine Rector (From April 2021)
Reverend Jonathan Dyer (To August 2021)
Reverend Luke Ijaz
Reverend Philip Keen (From July 2021)
Reverend Steven Nichols (To August 2021)
Reverend Rico Tice
Reverend Dr Christopher Wright
Churchwardens: Louise Gibson (To May 2021)
Joanna Richards (From May 2021)
Robert Turner
Member of the General Synod Sophie Clarke
Members of the Diocescan Synod: Paul Hawkins
Jeremy Thomas
Representatives on Kevin Ashman Stephen Mackay
the Deanery Synod: Richard Bagwell Alison MacKenzie
James Brightwell Litsa McClymont
Alison Burn Jonathan Morrow
Mary Currie Mark O'Leary
John Ellerton (From September 2021) David Rollason
Jennifer Gallagher Erna Smit
Steven Ho Sue Stamper-Iveson
Gordon Hockey (To May 2021) Victor Truong (From May 2021)
Derek Lowe
Lay Readers: David Turner
Jennifer Gallagher
Elected Members: Chloe Black (From May 2021)
Kevin Carter
Anne Custance
Richard East (From May 2021)
John Ellerton (To May 2021)
Sarah Gawley
Michael Hall (Treasurer)
Ross Hendry
Joel Huang
Ndubuisi Kejeh
Steven Legg
Yan-Ling Li
Natasha Ling
Fiona Ochan
Grace Ong
Caroline Orji (From May 2021)
Rachel Rider
Mei Ling Routley (To May 2021)
Kirsten Russell
Robert Selby
Michael Sharp (PCC Secretary)
Louise Smith
Paul Stamper-Iveson
Andrew Turner
Richard Wang
Brian Weaver (To May 2021)
Celia Wyatt (From May 2021)
Nathaniel Yisa

Page 1

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE ANNUAL REPORT 2021 (CONTINUED)

Structure, governance and management

All Souls, Langham Place is an evangelical Anglican Church in the heart of the west end of London. The church is a Grade I listed building, designed by John Nash. It holds about 1,000 people and welcomes some 2,000 to three main Sunday services each Sunday. The church family is very international and has a healthy mix of all ages and nationalities. 1,064 people were recorded on the electoral role at the 2021 APCM. 1,011 people returned annual membership cards in 2021 demonstrating their commitment to pray, serve, give, share Christ and study God’s word. A second congregation worships at the All Souls Clubhouse in Cleveland Street.

All Souls Parochial Church Council (PCC) has responsibility to cooperate with the incumbent in promoting in the parish the whole mission of the Church: pastoral, evangelistic, social and ecumenical.

Senior lay staff attend PCC meetings in an advisory non-voting capacity.

Appointment and induction of PCC members

In accordance with the Church Representation Rules, one third of the elected members of the PCC are elected at the APCM every year for a three year term, in addition to any casual vacancies that need to be filled. The members of the PCC also currently include eighteen Deanery Synod representatives, who were elected for a three year term from 2020 to 2023. Our arrangements ensure that new PCC members undergo an induction to brief them on their legal obligations under charity and church law, and their role as members of the council.

Risk management statement

The PCC acknowledges its responsibility to monitor risks faced by the charity. The All Souls Risk Policy is approved annually by the PCC and outlines the means by which major risks are managed. The rector and principal PCC subcommittees (Finance, Buildings, Safeguarding, World Mission and Security, HR and Remuneration) are designated risk owners and, under the direction of the church officers group, comprising a Church Warden, the PCC Secretary and Director of Operations, the risk register is reviewed termly. Work is continuing to improve the effectiveness of the risk framework, particularly the ability of the charity to relate risks to objectives, score risks consistently and present risks consistently across different risk areas.

Organisational policy

The PCC meets every month, other than May and August, and there are sub-committees covering various different activities. Other sub-committees are formed as and when required. The Director of Operations is appointed to manage the day to day operations of the charity. To facilitate effective operations, the Director of Operations has delegated authority, within the terms of delegation approved by the PCC members, for matters including strategic planning and delivery and operational oversight of the four Parish charities.

The church recognises the following roles as key management staff: The Rector, Senior Ministers, Director of Operations, Buildings, IT and Finance Managers. Pay and remuneration of lay staff is set by the PCC, that of Clergy by the London Diocese.

Charitable status

All Souls Church is a registered charity under registration number 1132882.

Related charities

All Souls Church is closely linked to other charities within the parish, namely All Souls Clubhouse, the St Paul’s Trust, Langham Arts Trust and All Souls Serve The City from 1 January 2021. As the PCC technically has indirect control over these entities, either through the power to appoint or remove the majority of trustees or though common trusteeships, this would indicate a requirement for audited consolidated financial statements to be compiled reflecting the activities of the whole parish. However, given that the activities of the related charities are supplementary to the core activity of the PCC, we consider that if we were to include the financial performance of those entities within these financial statements, we may in substance dilute the understanding of the financial performance and position of the primary organisation that the PCC is responsible for. Accordingly, the financial statements to which this report relates only reflect the results and position of activities and programmes under the direct control of the PCC.

Even if it were considered appropriate to prepare consolidated financial statements, given the resources at the disposal of the PCC, and the disruption to normal life as a result of the Coronavirus, it is not practical for audited financial statements for the respective related charities to be prepared and approved and then incorporated into consolidated audited financial statements in time for presentation at the annual meeting. It remains an aspiration for summary consolidated results to be prepared for the parish as a whole, when resources and circumstances allow.

Page 2

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE ANNUAL REPORT 2021 (CONTINUED)

OBJECTIVES AND ACTIVITIES

Our Vision: All For Jesus

The PCC has considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. This has always been at the very heart of our mission statement and the following review depicts just some of our many activities enabling ordinary people to live out their faith as part of our parish community. In carrying out its responsibilities, the PCC has complied with its duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 to have due regard to House of Bishops' guidance on safeguarding children and vulnerable adults.

Review of the year

2021 was a year of change for All Souls Church. It was a year of both “welcomes” and “good-byes”. We were delighted to welcome Charlie Skrine and his family at the end of April when he started as our new Rector. Charlie has hit the ground running, working hard to get to know the Church family, the staff team and to familiarise himself with the broad range of operational and governance processes that enable All Souls to run effectively on a day-to-day basis. The Church family has benefited hugely from Charlie’s preaching and teaching across different series in both the morning and evening services.

It has also been a privilege to welcome Pamela Brown-Peterside as the Director of All Souls Serve the City (ASSTC). Pamela has quickly settled into the role by leading the different ASSTC ministries as well as making a valuable contribution to the Rector’s Senior Team. This appointment was a priority for the ASSTC CIO in its first year. The Aslan and Tamar funds from All Souls Church were transferred to the ASSTC CIO when it began on 1st January 2021.

Pamela was joined on the Rector’s Senior Team by Kah Foon Gillespie and Natasha Rayan. Kah Foon joined to lead our ministry training programme. Kah Foon and her husband, Jonathan, have been connected with All Souls for many years and it is wonderful to have Kah Foon on the team. Natasha is a long standing member of the ministry team, leading our World Mission ministry. Her wisdom and experience have been a valuable addition to the church leadership. Our joy at being able to welcome new members of the team has been accompanied by the departure of other collegaues. 2021 saw us saying socially distanced goodbyes to Rev. Steve Nichols, Rev. Jonny Dyer, Melinda Hendry, Hannah Hawksbee and Monty Erskine. All have made a monumental contribution to the life and ministry of All Souls over many years, for which we are so grateful. We miss them and their families very much but are delighted that the Lord has called them to different and new ministry fields. Louise Gibson also finished her term as Church Warden in 2021, having served for an extra year to help see us through the interregnum. We greatly appreciate Louise's service. Joanna Richards has taken over from Louise, having been elected as her successor at the 2021 APCM.

2021 also saw us saying more significant and sad goodbyes to a number of members of the Church family who went to glory during the past 12 months, a number as a result of Covid-19. It has been a painful reminder for us, like many across the globe, of the severity of this pandemic.

The shadow of the pandemic has continued to shape and influence so much of what we do as a Church throughout the year. The priority has been to reopen the Church and enable the Church family to worship and join in fellowship in a ‘covidsecure’ way. It has been a huge joy to be able to meet together again and to see the number of people attending all of the Sunday services steadily increase. All of our ministry as a Church in 2021 has been underpinned by prayer both individually and corporately. It has been such an encouragement that the daily 8am prayer meetings that started at the beginning of the pandemic have now become a standard part of Church life, a joy that was matched by being able to restart the in-person prayer gathering.

As a Church we owe a huge debt of gratitude to all our staff who have worked tirelessly to ensure that not only can we meet on a Sunday but also restart our midweek ministries (even if some have had to be online). The team have been joined in their effort and creativity by a huge number of the Church family who have continued faithfully to serve, steward and lead. We continually thank God for how He has supported, sustained and strengthened us throughout the past 12 months.

This theme of gratitude also extends to God’s incredible financial provision during 2021. As well as growth in our online donations, we also saw immense generosity in response to our World Mission and Thanksgiving and Gift days, with significant sums contributed.

The PCC continued to meet monthly, with the easing of restrictions enabling a number of the meetings to happen face to face. The new governance framework that was implemented in late 2020 has continued to take hold in order to ensure that good governance remains a top priority. We are grateful for those that have taken a lead in ensuring our safeguarding, finances and buildings are well managed. Alongside their governance responsibilities, the PCC has: Continued to receive regular updates from the many different ministries run by the Church; Engaged with the Church Of England’s Living in Love and Faith process;

Carefully considered the findings and recommendations of a, 'Lessons Learnt Review', by the safeguarding charity, ThirtyOne-Eight, into various forms of abuse and the prevailing culture which allowed the abuse to take place; Provided valuable wisdom and insight into different discussions about the future plans for the Church.

The PCC has also continued to be kept up to date about the plans for the potential development of SPRAS, including detailed discussions with the Diocese of London. These discussions are ongoing.

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PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE ANNUAL REPORT 2021 (CONTINUED)

2022 Plans

The focus for 2022 is the continuing reopening of the Church and other ministries as restrictions continue to lift. The desire is to see more people coming back to services, and to ensure that all ministries and services can be provided in a way that enables people (with different views and concerns) to feel comfortable and included in all areas of Church life. As part of this, there are ongoing discussions around the shape and form of our continued online offering.

Our Partnership Sunday on 27th February 2022 will mark an important milestone in helping the Church family to think through what being a Partner of All Souls means. 2022 will see particular focus given to our missional aim: to grow and teach disciples. This is one of six missions that flow directly from our vision to be “All for Jesus”. The focus for this year will be on what it really means to be a disciple and how we as a whole Church family can help one another to grow and be disciples who are equipped as women and men to teach the word of God and live all of life for Christ.

As a Church we want to continue to invest in our safeguarding process and ensure that our Church is a place where everyone, particularly abuse survivors, are safe and cared for. This includes recruitment of a paid safeguarding officer and administrator; an event focusing on ‘The Gospel and Abuse’; continued recruitment of people to support survivors coming forward; and ongoing signposting in sermons and other teaching settings about safeguarding issues.

The Church will continue with the important work of implementing the governance and management framework, and we are excited to be joined by Nathan van Sittert as our new Director of Operations. Nathan, alongside Natasha Rayan (who has taken on additional responsibilities as Head of People and Culture) and Charlie Skrine will have a key role in ensuring the effective operations and governance of the Church. Alongside Nathan we are also looking forward to welcoming Rev. Will Stileman as Associate Rector, joining us in April 2022.

This coming year will also see the PCC review the use of buildings and wider property portfolio. This is in part a response to Covid and the changes it has brought about. More significantly, it is an exercise to help inform and shape how our estate enables and supports ministry: how our building can best enable us to be ‘All for Jesus’. As part of this, work will continue on the '2024 project' to ensure that the exterior of All Souls Langham Place is suitably refurbished. In addition, the St Paul’s Trust trustees will continue their discussions around redevelopment of St Paul's Robert Adam Street, liaising with Church family and the Diocese.

Christian Service

All Souls depends on its members' involvement in Christian service. Despite the continued disruption caused by coronavirus, serving partners have continued to be involved in many areas of online, hybrid and ‘face-to-face’ church life including small groups, pastoral care, worship, music, youth and children’s work, men’s and women’s ministry, evangelism and training.

FINANCIAL REVIEW

The Statement of Financial Activities (SOFA) shows unrestricted net income of £170,500 from normal operations (excluding legacies) (2020: net income of £93,312). Unrestricted legacies totalled £324,214 this year (2020: £566,000), with £298,214 received before the year end and £26,000 accrued for in 2021 debtors. Restricted net income was £76,979 for the year (2020: £591,830).

Of the total unrestricted Income of £2,688,188, 81% (2020: £2,954,066, 73%) was sourced from congregational giving and 19% (2020: 27%) came from other sources, including legacies. Rental income from facilities was negatively impacted for another year, due to lockdown restrictions.

Unrestricted expenditure on Church activities totalled £2,194,167 (2020: £2,120,201). The breakdown of this expenditure is as follows: £839,419, 38%(2020: £791,228, 37%) relates to salaries and other costs for the ministry team, £251,197, 12% (2020: £239,483, 11%) is direct property costs for All Souls, SPRAS and SPVS, £63,319, 3% (2020: £59,445, 3%) is direct ministry costs and £271,014, 12% (2020: £230,886, 11%) relates to grants made. The balance of £769,217, 35% (2020: £799,159, 38%) relates to support team and governance costs for all activities, which have been allocated to unrestricted church activities as per Note 3d.

Due to government restrictions, the catering department was unable to function until September 2021. Whilst a loss of £46,868 is recognised in note 5 of the accounts, the chef was on furlough until July, and the other catering staff on furlough until September. £15,587 of the government grants relate to the catering department.

The Good Samaritan initiative, reported within the Rector's Discretionary Fund, received income of £36,844 (2020:£18,904). Distributions of £9,050 had been made by 31 December 2021 (2020: £300).

Flat C, 5 All Souls Place, continued until September 2021 as an investment property to earn commercial rentals. It is now being used as staff accomodation and its use will be reviewed as part of the housing review, taking place in April. In accordance with FRS 102, the property was valued at fair value of £1,050,000 by an independent valuer in March 2022.

The annual Thanksgiving and Gift Day brought in £228,759 from donations and £47,352 in gift aid (2020: £83,853 and £12,476 respectively). The gift day was another fundraising effort towards the 2024 building project. The total raised for this project so far is £936,136, of which £121,201 is for the restoration of the steps part of the project . Income of £688,910 (2020: £658,377) was received in 2021 for the World Mission Fund. The World Mission committee approved grants from the Mission Fund totalling £569,390 (2020: £530,485). These are detailed in Note 15.

Page 4

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE ANNUAL REPORT 2021 (CONTINUED)

Staff

The second half of the year was filled with several farewells to staff who have served All Souls for many years. Steve and Katy Nichols moved to All Saints Lindfield, where Steve has been appointed as the new vicar. Jonny Dyer also left his role as Associate Rector in the Summer, but has remained a familiar face at Sunday services. After 12 years as Director of Operations, Monty Erskine has moved on to be the new CEO of The College of St Barnabas. Having been part of the congregation for more than 20 years and on the staff team for more than 14 years, Melinda Hendry has left us to complete her Masters degree in theology and spiritual formation. Ian Yap also resigned in November, after 2 years in the Buildings team, most of which was under Covid restrictions. We're very grateful to him for all he did to keep our buildings safe and secure during such difficult times. Sadly Covid brought about some other changes that resulted in two staff roles being made redundant; Chris Ferguson, our sermon editor, and Claudiniea Rodrigues - Larkin, our part-time finance assistant who helped with the counting and banking of cash each week. We are so thankful for their service to the church and wish them well in their new chapters.

As well as welcoming our new Rector, Charlie Skrine, we are delighted to have a new curate, Philip Keen on the team. Kah Foon Gillespie has also joined us, from Friends International, to take over the ministry trainees programme from Melinda Hendry. The departure of these valued members of staff naturally had an impact on the workload of remaining members of the teams. We are grateful for the several members of staff who shouldered additional responsibilities during staff shortages and periods of adjustments Iryna Owen - Mills has joined us as Serving and Support Co-ordinator, a crucial role as we try to re-open the church and its various ministries. Verena Olby moved across from the Finance department, to start our new Human Resources department.

Principal risks and strategies for mitigation

There are three principal strategic risks for 2022. The first relates to the successful induction of a number of key team appointments including a new Associate Rector, a new Director of Operations, a new Head of People and Culture and a new paid Safeguarding Officer. This risk is being mitigated through a clear induction process alongside a programme of regular meetings with the Rector and other key team members and members of the wider PCC. The Rector is also working through a new structure and rhythm for team meetings which will help provide clarity for all team members around where different decisions are made.

The second, is the ongoing risk that All Souls will face pressure in the future to remain a biblical gospel church in the event of doctrinal changes that may affect the Church of England. This risk is mitigated by the continued use of influence within Church of England structures where possible to prevent changes that would be difficult to work with, this includes - but is not limited to - the Rector's engagement with General Synod and the Church of England Evangelical Council. A number of discussions will also be had at PCC over the coming year.

The third risk is that All Souls may be affected by a specific safeguarding issue or via association through a wider review on safeguarding both within and outwith the Church of England. In light of the recommendations contained in the Independent Inquiry into Child Sexual abuse commissioned by the Church of England, the Lessons Learned Review Report for Emmanuel Church Wimbledon by ThirtyOne:Eight, the John Smyth Independent Case Review commissioned by Scripture Union, the Independent culture review concerning the Titus Trust along with others, a range of actions are being taken. This includes the establishment of a dedicated group to review the lessons identified as part of the Lessons Learned Review Report for Emmanuel Church Wimbledon; work by our Safeguarding and HR committees to review All Souls policies, procedures and culture; and the recruitment of a paid safeguarding officer. During 2022 we expect further recommendations to come to PCC in relation to other actions that we should be considering to ensure that All Souls is a church that protects the vulnerable and is a safe space for victims of all kinds of abuse.

Investment policy

Investments are held on behalf of the parish by the London Diocesan Fund to provide an income return, while complying with the ethical standards set by the PCC. All Souls has also directly invested with Hargreaves Lansdown to provide an income return. Most of these investments are short term; they are held for the ongoing running costs of the church.

Grant-making policy

The PCC approves grants. They are made to charities or as part of unsolicited giving to beneficiaries recommended by the World Mission Committee.

Reserves policy

At 31 December 2021 funds held totalled £5,164,327 (2020: £4,586,454), of which £1,745,012 (2020: £1,668,493) were restricted funds. The PCC members have established a policy whereby unrestricted funds (net of fixed assets and long term liabilities secured on them and net of stock in hand) held by the charity equate to a minimum of 20% (2020: 20%) of unrestricted resources expended (excluding depreciation). At this level the PCC members feel that they would be able to continue the activities of the charity in the event of a significant drop in funding.

At 31 December 2021 the adjusted unrestricted fund balance was calculated as being £1,528,925 in surplus. This is £1,087,349 more than the £441,575 required by the policy.

Auditors

A resolution will be proposed at the Annual Parochial Church Meeting that Griffin Stone Moscrop & Co. be reappointed auditors to the charity for the ensuing year.

PCC members’ responsibilities

The PCC members are responsible for preparing the Annual Report and the financial statements 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 PCC members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the church and of the incoming resources and application of resources of the church.

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PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE ANNUAL REPORT 2021 (CONTINUED)

PCC members’ responsibilities (continued)

The PCC members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the church and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the PCC on 25th April 2022 and signed on its behalf by:

………………………………

Reverend Charles Skrine (Chairman)

Page 6

INDEPENDENT AUDITORS' REPORT

TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

Opinion

We have audited the financial statements of All Souls Church, Langham Place for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and 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 FRS 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 " Auditors' responsibilities for the audit of the financial statements " section of our report. We are independent of the church 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 opinon.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the PCC members’ 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 church'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 PCC members 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 auditors' report thereon. The PCC members are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of PCC members

As explained more fully in the "PCC members' responsibilities" statement set out on pages 5 and 6, the PCC members 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 PCC members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE (CONTINUED)

In preparing the financial statements, the PCC members are responsible for assessing the church'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 PCC members either intend to liquidate the church or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

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 auditors' 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Use of our report

This report is made solely to the PCC members (who are trustees for the purposes of charity legislation), as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the PCC members those matters we are required to state to them in an auditors' 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 church and the PCC members, as a body, for our audit work, for this report, or for the opinions we have formed.

Chartered Accountants Statutory Auditors Date 2022

21-27 Lamb's Conduit Street London WC1N 3GS

Griffin Stone Moscrop & Co is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

FUNDS 2021 2020
Endow-
Unrestricted Restricted ment TOTAL TOTAL
World
Mission Building Other Total
Note £ £ £ £ £ £ £ £
Income and
endowments
from:
Donations and
legacies 2a. 2,544,171 688,595 480,407 72,835 1,241,837 - 3,786,008 3,958,933
Church activities 2b. 22,266 - 66,000 492 66,492 -
88,758		 291,765
Other trading
activities 2c. 119,489 - - - - -
119,489		 96,747
Investments 2d. 2,262 (118) 19,200 - 19,082 - 21,344 34,927
Total income and
endowments 2,688,188 688,477 565,607 73,327 **1,327,411 ** - 4,015,599 4,382,372
Expenditure on:
Raising funds
- Trading expense 5 (62,519) - - - - - (62,519) (81,600)
- Investment
management 4 -
-		 (6,035) - (6,035) - (6,035) (7,079)
Church activities 3a. **(2,194,167) ** (572,945) **(207,675) (463,777) ** (1,244,397) - (3,438,564) (2,949,474)
Total expenditure **(2,256,686) ** (572,945) **(213,710) (463,777) ** **(1,250,432) ** - (3,507,118) (3,038,153)
Net income /
(expenditure)
before gain /
(loss) on
investments 431,502 115,532 351,897 (390,450) 76,979 - 508,481 1,344,220
Gain / (Loss) on
investments 4 63,212 - - - - 6,180 69,392 (116,600)
Net income /
(expenditure) 494,714 115,532 351,897 (390,450) 76,979 6,180 577,873 1,227,620
Transfer of funds 460 - 10,000 (10,460) (460) - - -
Net movement in
funds 495,174 115,532 361,897 (400,910) 76,519 6,180 577,873 1,227,620
Reconciliation of
funds:
Total funds
brought forward 2,873,058 322,359 758,728 587,406 1,668,493 44,903 4,586,454 3,358,834
Total funds
carried forward 3,368,232 437,891 1,120,625 186,496 1,745,012 51,083 5,164,327 4,586,454

The notes on pages 12 to 28 form part of these financial statements.

Page 9

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE BALANCE SHEET AS AT 31 DECEMBER 2021

Note
FIXED ASSETS
Tangible assets
7
Investment property
8a.
Investments
8b.
CURRENT ASSETS
Stock
9
Debtors and prepayments
10
Amounts due from:
- All Souls Serve The City (2020: All Souls Clubhouse)
- Langham Arts Trust
- Langham Arts Trust (long-term loan)
- Inspire Church Plant
Short-term deposits
Cash at bank (including minor fundholders)
Cash in hand
Creditors: amounts falling due within one year
11a.
NET CURRENT ASSETS
Creditors: amounts falling due after more than one year
11b.
Provisions for liabilities
11c.
NET ASSETS
PARISH FUNDS
Unrestricted funds
14b.
Restricted funds
14a.
Endowment funds
4
TOTAL FUNDS		 2021
£
923,746
1,050,000
221,629
2,195,375
9,056
176,675
99,254
1,622
13,731
324
785,656
2,435,642
255
3,522,215
110,051
3,412,164
408,344
34,868
5,164,327
3,368,232
1,745,012
51,083
5,164,327		 2020
£
911,442
1,000,000
178,953
2,090,395
7,836
408,687
19,050
-
13,731
321
785,251
1,870,031
523
3,105,429
181,744
2,923,684
427,626
-
4,586,454
2,873,058
1,668,493
44,903
4,586,454

The financial statements were approved by the PCC on 25th April 2022 and signed on its behalf by:

……………………………………………….

……………………………………………….

Reverend Charles Skrine (Chairman) Michael Hall (Honorary Treasurer)

The notes on pages 12 to 28 form part of these financial statements.

Page 10

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021

Cash flows from operating activities:
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Purchase of investments and investment property
Proceeds from sale of investments
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Analysis of changes in net cash/(debt)
Short-term deposits
Cash at bank (including minor fundholders)
Cash in hand
Debt due within one year
Debt due after one year
TOTAL		 Note
13a.
13b.
At 1 Jan
2021
£
785,251
1,870,031
523
(19,000)
(427,626)
2,209,179		 2021
£
617,496
21,344
(49,808)
(98,286)
75,002
(51,748)
565,748
2,655,805
3,221,553
Cash
flows
£
405
565,611
(268)
565,748
(140)
19,282
584,890		 2020
£
1,071,335
34,927
(177,127)
(30,499)
-
(172,699)
898,636
1,757,169
2,655,805
At 31 Dec
2021
£
785,656
2,435,642
255
(19,140)
(408,344)
2,794,069

The notes on pages 12 to 28 form part of these financial statements.

Page 11

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting policies

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The financial statements have been prepared to give a 'true and fair' view and 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 Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Church constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared on the accruals basis and under the historical cost convention except for the valuation of investment assets, which are shown at market value.

Going concern

The financial statements have been prepared on the going concern basis. There are no material uncertanties related to events or conditions that may cast significant doubt upon the PCC's ability to continue as a going concern.

Accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The PCC makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related acutual results.

Funds

General unrestricted funds represent the funds of the Parochial Church Council (PCC) that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose are also unrestricted.

Restricted funds are those subject to specific trusts, which may be declared by the donor or with their authority. The restricted funds of All Souls, Langham Place include restricted income funds which are expendable at the discretion of the PCC in the furtherance of some particular aspects of the activities of the Church, and restricted capital funds, whose income is restricted.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members.

Income

Donations and legacies

Income from church activities and other trading activities

Income from investments

Page 12

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Expenditure

Allocation of support and governance costs

Expenditure is charged on the Accruals basis. It is allocated to the activities in the SOFA based on staff time.

Expenditure on raising funds

This relates to costs of the audio and resource centre, canteen and other trading activities.

Grants

Grants and donations are accounted for when paid, or when awarded, if that award creates a binding obligation on the PCC.

Treatment of irrecoverable VAT

As a registered charity the Church is generally not liable to tax on its surplus or capital gains. It is not, however, exempt from value added tax. Irrecoverable value added tax is included in the cost of those items to which it relates.

Operating leases

Rentals under operating leases are charged to the SOFA in the period to which they relate.

Activities directly relating to the work of the Church

The diocesan quota or parish share is accounted for when payable. Any diocesan fees are accounted for when the services are incurred. Any unpaid fees at 31 December are provided for in these financial statements as an operational liability and is shown as a creditor in the balance sheet.

Support costs

Costs incurred or payments made which are an integral part of expenditure on the PCC’s objects.

Governance costs

Expenditure incurred in ensuring that the PCC complies with all legal and regulatory obligations.

Pension contributions

The PCC operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the PCC in an independently administered fund. Contributions are charged when payable.

Tangible fixed assets

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the financial statements by s10(2)(a) of the Charities Act 2011.

Moveable church furnishings held by the churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the church’s inventory, which can be inspected (at any reasonable time). For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated on a straight-line basis in the accounts over their currently anticipated useful economic life (initially over 20 years).

All expenditure incurred during the year on consecrated or benefice building, individual items under £5,000 or on repair of movable church furnishings acquired before 1 January 2000 is written off.

Freehold and leasehold property

Freehold properties are valued at purchase price. In the opinion of the PCC members, depreciation of the freehold properties would be immaterial and has not been charged. The members carry out an annual impairment review, and in their opinion no provision is necessary in respect of the value at which freehold properties are included in the financial statements. Leasehold properties are valued at cost and are depreciated on a straight line basis over the life of the lease.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a straight line basis over 2 to 10 years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.

Page 13

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Investment properties

Investment properties are included in the balance sheet at their open market value in accordance with FRS 102 and are not depreciated.

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The SOFA includes net gains and losses arising on revaluations and disposals throughout the year.

Stocks

Stocks are shown at the lower of cost or net realisable value.

Debtors

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for any amounts that may prove uncollectable. These are recognised initially at the settlement amount. Prepayments are valued at the amount prepaid, net of any trade discounts due.

Cash and cash equivalents

Cash at bank and in hand and short term deposits comprise cash and short-term highly liquid investments held with the CBF Church of England Deposit Fund or Barclays Bank and other institutions, maturing within three months or less from the opening of the deposit or similar account.

Creditors

Creditors are recognised when the PCC has an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Creditors are recognised at the amount that the PCC anticipates it will pay to settle the debt or the amount it has received as advanced payment for the goods or services it must provide.

Financial Instruments

The church only has financial assets and liabilities of a kind that qualify as basic financial instruments. All (including debtors and creditors) are initially recognized at transaction value and subsequently measured at their settlement value.

1a. Charity information

All Souls, Langham Place is an evangelical Anglican Church located at 2 All Souls Place, London, W1B 3DA. A description of the nature of the charity's operations and its principal activites can be found in the Annual Report of the PCC.

Page 14

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Income and endowments

2a. Donations and legacies

Gift aid donations
Charity vouchers
Income tax
recovered
Offerings
Gift Days
Donations
Grants
Legacies		 Unrestricted
£
1,247,115
258,375
323,232
3
-
351,331
39,901
324,214		 2021
2020
World
Mission
Building
Other
Total
TOTAL
TOTAL
£
£
£
£
£
£
152,034
114,732
30,157
296,923
1,544,038
1,559,260
25,908
31,124
12,170
69,202
327,577
435,425
100,092
73,385
7,779
181,256
504,488
443,303
-
-
90
90
93
25,531
332,712
228,759
-
561,471
561,471
258,968
77,849
28,138
11,489
117,476
468,807
514,689
-
4,269
11,150
15,419
55,320
104,551
- - -
-
324,214
617,206
Restricted
FUNDS
2,544,171 688,595
480,407
72,835
1,241,837
3,786,008
3,958,933

Unrestricted grants include £39,901 (2020: £103,162) from the government's coronavirus job retention scheme.

2b. Church activities

2b. Church activities
Facilities use
Wetfoot
ASLAN
TAMAR
Fees		 Unrestricted
£
19,995
-
-
-
2,271		 2021
2020
World
Mission
Building
Other
Total
TOTAL
TOTAL
£
£
£
£
£
£
-
66,000
-
66,000
85,995
78,045

- -
492
492
492
636

- - -
-
-
97,610

- - -
-
-
112,841
- - -
-
2,271
2,633
FUNDS
Restricted
22,266 -
66,000
492
66,492
88,758
291,765

The ASLAN and TAMAR projects were transferred to the All Souls Serve The City CIO on 1 January 2021.

2c. Other trading activities

2c. Other trading activities s
Unrestricted
Note
£
Income from trading
5
14,611
Church hall lettings
-
Residential rents
57,109
Other
47,769
119,489
Unrestricted
£
Interest on short-
term deposits
703
Dividends on trusts
and holdings
1,559
Property
-
2,262
2d. Income from investments		 Unrestricted
£
14,611
-
57,109
47,769		 2021
2020
World
Mission
Building
Other
Total
TOTAL
TOTAL
£
£
£
£
£
£
- - - -
14,611
18,515

- - - -
-
6,964
- - - -
57,109
48,171
- - -
-
47,769
23,096
FUNDS
Restricted
119,489 - - -
-
119,489
96,747
2021
2020
World
Mission
Building
Other
Total
TOTAL
TOTAL
£
£
£
£
£
£
- - -
-
703
3,288
(118)
- -
(118)
1,441
3,015
-
19,200
-
19,200
19,200
28,624
Restricted
FUNDS
2,262 (118)
19,200
-
19,082
21,344
34,927

Page 15

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

3. Expenditure

3a. Church activities

2021
TOTAL
World
Mission
Building
Other
Total
£
£
£
£
£
£
Grants
All Souls mission partners
15a
348,130
-
3,500
351,630
351,630
Other world mission grants
15b
221,260
- - 221,260
221,260
Ordinands and bursaries
-
- - -
17,968
Extra-parochial grants
16
-
- - -
253,046
Other grants made
-
- 387,519
387,519
387,519
569,390
-
391,019
960,409
1,231,423
Activities directly relating
to the work of the Church
Clergy and ministries
-
142,895
16,589
159,484
1,219,635
Clergy Diocesan Common
Fund salaries
-
- - -
265,631
Ministry salaries, NI and
pensions
-
-
16,415
16,415
369,680
Ministry working costs
- -
101
101
16,853
Ministry accommodation
costs
-
142,895
-
142,895
340,096
Telephone
-
- - -
6,570
Support and governance
allocation
3d
-
-
73
73
220,805
ASLP, SPRAS, and SPVS
3,555
64,780
52,426
120,761
535,835
Electricity
-
-
-
-
30,113
Gas
-
-
-
-
21,256
Water
-
-
-
-
2,650
Maintenance and repairs
-
61,820
51,719
113,539
201,853
Insurance
-
-
-
-
36,649
Consumables
-
-
-
-
3,451
Depreciation
-
-
-
-
36,977
CAF and bank charges
3,555
2,960
536
7,051
14,984
Broadsheet
-
-
-
-
-
Services and communion
-
-
50
50
921
Other church running costs
-
-
67
67
22,563
Bad and doubtful debts
-
-
-
-
487
Support and governance
allocation
3d
-
-
54
54
163,931
Direct ministry costs
-
-
3,743
3,743
451,671
Music and organ tuning
-
-
86
86
3,341
Children and youth
-
-
315
315
7,372
Student work
-
- - -
6,044
Church family and
workplace
- -
26
26
(198)
Sunday services
-
-
365
365
4,494
Springboard
-
- - -
765
Pastoral
-
- - -
8,327
Evangelism
-
-
2,426
2,426
8,097
Recovery
-
- - -
-
Special events
-
-
330
330
28,625
ASLAN and Wetfoot
-
-
68
68
68
TAMAR
-
- - -
-
Support and governance
allocation
3d
-
-
127
127
384,736
TOTAL
572,945
207,675
463,777 1,244,397
3,438,564
765
-
384,609
2,194,167
8,327
5,671
-
28,295
-
3,255
7,057
6,044
(224)
4,129
871
22,496
163,877
447,928
487
36,649
3,451
36,977
7,933
-
415,074
30,113
21,256
2,650
88,314
16,752
197,201
6,570
220,732
271,014
1,060,151
265,631
353,265
Note
FUNDS
Unrestricted
Restricted
-
-
17,968
253,046
-		 2021
TOTAL
World
Mission
Building
Other
Total
£
£
£
£
£
£
Grants
All Souls mission partners
15a
348,130
-
3,500
351,630
351,630
Other world mission grants
15b
221,260
- - 221,260
221,260
Ordinands and bursaries
-
- - -
17,968
Extra-parochial grants
16
-
- - -
253,046
Other grants made
-
- 387,519
387,519
387,519
569,390
-
391,019
960,409
1,231,423
Activities directly relating
to the work of the Church
Clergy and ministries
-
142,895
16,589
159,484
1,219,635
Clergy Diocesan Common
Fund salaries
-
- - -
265,631
Ministry salaries, NI and
pensions
-
-
16,415
16,415
369,680
Ministry working costs
- -
101
101
16,853
Ministry accommodation
costs
-
142,895
-
142,895
340,096
Telephone
-
- - -
6,570
Support and governance
allocation
3d
-
-
73
73
220,805
ASLP, SPRAS, and SPVS
3,555
64,780
52,426
120,761
535,835
Electricity
-
-
-
-
30,113
Gas
-
-
-
-
21,256
Water
-
-
-
-
2,650
Maintenance and repairs
-
61,820
51,719
113,539
201,853
Insurance
-
-
-
-
36,649
Consumables
-
-
-
-
3,451
Depreciation
-
-
-
-
36,977
CAF and bank charges
3,555
2,960
536
7,051
14,984
Broadsheet
-
-
-
-
-
Services and communion
-
-
50
50
921
Other church running costs
-
-
67
67
22,563
Bad and doubtful debts
-
-
-
-
487
Support and governance
allocation
3d
-
-
54
54
163,931
Direct ministry costs
-
-
3,743
3,743
451,671
Music and organ tuning
-
-
86
86
3,341
Children and youth
-
-
315
315
7,372
Student work
-
- - -
6,044
Church family and
workplace
- -
26
26
(198)
Sunday services
-
-
365
365
4,494
Springboard
-
- - -
765
Pastoral
-
- - -
8,327
Evangelism
-
-
2,426
2,426
8,097
Recovery
-
- - -
-
Special events
-
-
330
330
28,625
ASLAN and Wetfoot
-
-
68
68
68
TAMAR
-
- - -
-
Support and governance
allocation
3d
-
-
127
127
384,736
TOTAL
572,945
207,675
463,777 1,244,397
3,438,564
765
-
384,609
2,194,167
8,327
5,671
-
28,295
-
3,255
7,057
6,044
(224)
4,129
871
22,496
163,877
447,928
487
36,649
3,451
36,977
7,933
-
415,074
30,113
21,256
2,650
88,314
16,752
197,201
6,570
220,732
271,014
1,060,151
265,631
353,265
Note
FUNDS
Unrestricted
Restricted
-
-
17,968
253,046
-		 2020
TOTAL
£
232,685
301,300
15,960
214,926
8,350
773,221
Clergy and ministries -
142,895
16,589
159,484
1,219,635
1,060,151		 1,042,949
Clergy Diocesan Common
Fund salaries
Ministry salaries, NI and
pensions
Ministry working costs
Ministry accommodation
costs
Telephone
Support and governance
allocation
3d		 272,700
350,753
15,210
152,084
6,847
245,355
ASLP, SPRAS, and SPVS 3,555
64,780
52,426
120,761
535,835
415,074		 507,606
Electricity
Gas
Water
Maintenance and repairs
Insurance
Consumables
Depreciation
CAF and bank charges
Broadsheet
Services and communion
Other church running costs
Bad and doubtful debts
Support and governance
allocation
3d		 28,825
13,750
7,168
161,256
33,168
2,507
57,210
16,231
579
445
18,419
3,404
164,644
Direct ministry costs -
-
3,743
3,743
451,671
447,928		 625,697
Music and organ tuning
Children and youth
Student work
Church family and
workplace
Sunday services
Springboard
Pastoral
Evangelism
Recovery
Special events
ASLAN and Wetfoot
TAMAR
Support and governance
allocation
3d
TOTAL		 3,330
4,951
4,491
4,148
988
149
11,210
2,546
180
30,091
58,401
108,127
397,085
572,945
207,675
463,777 1,244,397
3,438,564
2,194,167		 2,949,474

The ASLAN and TAMAR projects were transferred to the All Souls Serve The City CIO on 1 January 2021.

Page 16

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

3. Expenditure (continued)

3b. Support costs

Support staff salaries, NI
and pensions
Support staff working
costs
Telephone
Print, postage and
stationery
Technology
Note
PCC expenses
Audit fees
Under-provision of prior
year audit fee
Legal, professional and
accountancy fees
Total support and
governance costs
3d.
3c. Governance costs		 £
662,652
7,951
9,856
99
30,719
Unrestricted		 2021
2020
TOTAL
TOTAL
World
Mission Building
Other
Total
£
£
£
£
£
£
- - - -
662,652
706,158
- - - -
7,951
12,290
-
-
110
110
9,966
10,738
- -
-
-
99
238
-
-
144
144
30,863
28,670
FUNDS
Restricted
711,277 -
-
254
254
711,531
758,094
£
164
15,600
3,520
38,656
Unrestricted		 2021
2020
TOTAL
TOTAL
World
Mission Building
Other
Total
£
£
£
£
£
£
- - - -
164
-
- - - -
15,600
14,300
- - - -
3,520
-
- - - -
38,656
34,690
FUNDS
Restricted
57,940 - - -
-
57,940
48,990
769,217 - -
254
254
769,471
807,084

3d. Allocation of support and governance costs

Support and governance costs have been allocated to the activities shown in Note 3a. by apportioning time spent by staff on each activity area. All such costs are charged in their entirety against unrestricted income. ASLP, SPRAS and SPVS costs relate to the running of the three main buildings.

Activity
Clergy and ministries
ASLP, SPRAS, and SPVS
Direct ministry costs		 £
220,732
163,877
384,609
Unrestricted		 2021
2020
TOTAL
TOTAL
World
Mission Building
Other
Total
£
£
£
£
£
£
- -
73
73
220,805
245,355
- -
54
54
163,931
164,644
- -
127
127
384,736
397,085
Restricted
FUNDS
769,217 -
-
254
254
769,471
807,084

Page 17

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

4. Gains / (Losses) on investments and investment property

Endowment investments
Market value at 1 January
Additions, at cost
Disposals at opening market value
Cash held by Endowment investment manager
Market value at 31 December
Unrealised gain in year
Realised loss on disposal
Gain / (Loss) on Endowment fund
Hargreaves Lansdown investments
Market value at 1 January
Additions, at cost
Disposals at opening market value
Market value at 31 December
Unrealised gain in year
Investment property - Flat C, 5 All Souls Place
Market value at 1 January
Additions, at cost
Market value at 31 December, determined by independent valuer
Increase / (decrease) in market value
Total gains / (losses)
Investment property management costs		 2021
£
44,903
42,352
(42,352)
-
44,903
51,083
6,180
-
6,180
134,050
55,934
(32,650)
170,546
13,212
1,000,000
-
1,050,000
50,000
69,392
(6,035)		 2020
£
68,425
-
(65,966)
42,352
44,811
44,903
92
(23,614)
(23,522)
96,629
30,499
-
134,050
6,922
1,100,000
-
1,000,000
(100,000)
(116,600)
(7,079)

5. Net income / (expenditure) from trading

Net income / (expenditure) for various activities which include items of both income and expenditure are as follows:

Catering
Receipts
Stock at 1 January
Add: Purchases
Less: Stock at 31 December
Cost of stock used
Staff costs
Maintenance
Depreciation
Total costs
Catering deficit
Audio and resource centre
Receipts
Stock at 1 January
Add: Purchases
Less: Stock at 31 December
Cost of stock sold
Staff costs
Total costs
Resources deficit
Total trading deficit
The total trading deficit can be split as follows:
Income - unrestricted
Expenditure - unrestricted
Expenditure - restricted		 2021
£
£
14,561
-
9,805
(2,147)
7,658
45,500
7,743
528
(61,429)
(46,868)
50
7,836
163
(6,909)
1,090
-
(1,090)
(1,040)
(47,908)
14,611
(62,519)
-
(47,908)		 2021
£
£
14,561
-
9,805
(2,147)
7,658
45,500
7,743
528
(61,429)
(46,868)
50
7,836
163
(6,909)
1,090
-
(1,090)
(1,040)
(47,908)
14,611
(62,519)
-
(47,908)		 £
1,711
14,078
-		 2020
£
13,995

15,789
49,032
352
957
6,232
4,592
(7,836)
(66,130)
(52,135)
4,520
2,988
12,482
(1,090) (15,470)
(1,040) (10,950)
(47,908) (63,085)
14,611
(62,519)
-		 18,515
(81,475)
(125)
(47,908) (63,085)

Page 18

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

6. Consolidated staff costs

Wages and salaries
Social security costs
Pension costs		 2021
£
943,173
71,525
60,124
1,074,822		 2020
£
983,709
66,241
64,256
1,114,206

During the year the PCC employed 47 (2020: 46) lay staff, none of whom earned £60,000 p.a. or more. The above figures include full and part time staff and staff working only for All Souls Church PCC. It excludes any contributions made to mitigate the costs of any person's salary. The number of full time equivalent (FTE) staff in 2021 was 36 (2020: 39). Between January and August, 5 (2020: 5) clergy were paid stipends by the Diocese of London and 4 clergy were paid stipends between September and December (2020: 5). A Diocesan Common Fund contribution of £265,631 (2020: £272,700) was made to cover these costs. The above pension costs represent the contributions payable for the year; they include an amount of £7,209 (2020: £8,194) arising from December 2021 salaries but paid in January 2022.

There are 11 (2020: 11) individuals identified as key management who received remuneration during the year, including 5 (2020: 5) ordained clergy. The total remuneration (including pension and NI) was £511,918 (2020: £530,638).

7. Tangible fixed assets

Freehold land and buildings comprise:

Leasehold buildings comprise:

The London Diocesan Fund is custodian trustee and the All Souls PCC is managing trustee of all freehold and leasehold properties.

Cost
At 1 January 2021
Additions
Disposals
At 31 December 2021
Accumulated depreciation
At 1 January 2021
Charge for the year
Disposals
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Freehold
land and
buildings
Leasehold
land and
buildings
Motor
vehicles
Fixtures,
fittings and
equipment
Total
£
£
£
£
£
44,000
745,564
8,522
691,123
1,489,209
-
-
-
49,808
49,808
-
-
-
-
-
44,000
745,564
8,522
740,931
1,539,017
-
55,640
8,522
513,605
577,767
-
(10,279)
-
47,783
37,504
-
-
-
-
-
-
45,361
8,522
561,388
615,271
44,000
700,203
-
179,543
923,746
44,000
689,924
-
177,518
911,442

Page 19

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

8. Investments

At 1 January 2021
Additions at cost
Revaluation gain / (loss)
At 31 December 2021
8a. Investment property		 2021
2020
£
£
1,000,000
1,100,000
--
50,000
(100,000)
1,050,000
1,000,000

During 2013, the PCC decided to make the leasehold property, Flat C, 5 All Souls Place, available for commercial rental. In September 2021, the PCC started using it as staff housing. This decision will be reviewed in April 2022 during the church housing review. In accordance with reporting requirements the property was valued on a market value basis by Robert Irving Burns, property consultants, in March 2022.

8b. Other Investments
At 1 January 2021
Additions at cost
Disposals
Cash held from disposal
Net gain
At 31 December 2021		 2021
2020
£
£
178,953
165,054
98,286
30,499
(75,002)
(65,966)
-
42,352
19,392
7,014
221,629
178,953

The London Diocesan Fund holds investments that provide an income return for the Church. Their historical cost and market values at the beginning and end of the year are as follows:

London Diocesan Fund holdings 2021 2020 2021 2020
Historical cost Market value
No. of units £ £ £ £
Rev T B Wood
Central Board of Finance Investment Fund 70 36 36 1,639 1,434
Miss E L Bridges Trust
Central Board of Finance Deposit Fund - 1,117 1,117 1,117 1,117
Central Board of Finance Investment Fund 2,063.66 42,352 - 48,327 -
Cash held from disposal - 42,352 - 42,352
Sub-total 43,505 43,505 51,083 44,903
Hargreaves Lansdown holdings 2021 2020 2021 2020
Historical cost Market value
No. of units £ £ £ £
Aegon Ethical Equity Fund 7,381.7384 17,001 24,818 21,552
 27,066
Capital Gearing Trust Plc 370 15,828 15,726 19,074
 17,296
Legal & General International Index Trust 13,172.4530 19,898 19,902 29,296
 23,873
Lindsell Train Global Equity Fund 7,685.3490 20,438 20,238 22,171
 22,050
Fidelity Index World 9,072.4500 25,494
 - 25,684 -
Royal London Ethical Bond Fund 7,457.1216 - 9,943 - 11,775
Scottish Mortgage Investment Trust 786 10,014
 - 10,521 -
Investments with market values < £10,000 40,296 35,058 42,248 31,990
Sub-total 148,969 125,685 170,546 134,050
Total other investments 192,474 169,190 221,629 178,953

The market value of other investments at 31 December 2021 was £221,629 (2020: £178,953) which, after allowing for additions of £98,286, gives rise to a net gain of £19,392 (2020: gain £7,014). The cash released from the liquidation of The Royal Dutch Shell and Keystone shares in 2020 was reinvested in the Central Board of Finance Investment Fund on 5 January 2021.

9. Stock

The following stock was held as at 31 December:

Audio and resource centre stock Food and catering supplies

2021 2020
£ £
6,909 7,836
2,147 -
9,056 7,836

Page 20

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

10. Debtors and prepayments

10. Debtors and prepayments
Unpaid sales invoices
Gift aid tax recoverable
Prepayments
Other debtors
Accruals for grants payable
Accruals
Other creditors
Other creditors
Trade creditors
11a. Creditors: amounts falling due within one year
11b. Creditors: amounts falling due after more than one year
Amount due to Christianity Explored
Amount due to St Paul's Trust
Taxation and social security		 2021
£
17,364
40,882
14,522
103,907		 2020
£
5,621
105,738
57,124
240,203
176,675 408,687
2021
£
16,000
31,044
126
277
15,600
112
46,892		 2020
£
29,099
69,143
4,173
19,107
11,360
112
48,750
110,051 181,744
2021
£
408,344		 2020
£
427,626

Of the above amount, £332,344 (2020: £351,626) falls due after more than 5 years of the balance sheet date.

Included within other creditors, in aggregate, are loans from St Paul's Trust totalling £427,484 (2020: £446,626) which are secured by a fixed legal charge over one of the Church's leasehold properties and its investment property.

11c. Provisions for liabilities

11c. Provisions for liabilities
Provision for correcting flue positioning at 139 Cleveland St - to be completed by June 2023
12. Financial instruments
Financial assets measured at fair value through net income / expenditure		 2021
£
34,868		 2020
£
-
2021
£
3,443,182		 2020
£
2,834,758

The above comprise fixed asset investments, short-term deposits, cash at bank and in hand.

13a. Reconciliation of net income to net cash flow from operating activities

13a. Reconciliation of net income to net cash flow from operating
activities
Depreciation charge
Dividends, interest and rent from investments
Increase in provision for liabilities
(Increase) / Decrease in debtors
Increase / (Decrease) in creditors
Decrease / (Increase) in current accounts
Net income for the year
Adjustments for:
(Increase) / Decrease in stocks
(Gains) / losses on investments
Net cash provided by operating activities
Cash in hand
Cash at bank (including minor funds)
Short-term deposits
13b. Analysis of cash and cash equivalents		 2021
£
577,873
37,504
(69,392)
(21,344)
(1,220)
232,012
(81,829)
(90,976)
34,868		 2020
£
1,227,620
58,167
116,600
(34,927)
107
(219,530)
(12,342)
(64,360)
-
617,496 1,071,335
2021
£
785,656
2,435,642
255		 2020
£
785,251
1,870,031
523
3,221,553 2,655,805

Page 21

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14a. Funds detail - restricted funds

The major restricted funds comprise:

At 1 January 2021
Income
Expenditure
Movement
Transfer from General Fund
At 31 December 2021		 Clubhouse
Refurbish
ment
Building
Fund
World
Mission
Fund
2021
TOTAL
Building
Fund
World
Mission Fund
2020
TOTAL
£
£
£
£
£
£
£
-
758,728
322,359 1,081,087
534,122
197,005
731,127
11,150
565,607
688,477 1,265,234
419,923
658,377
1,078,300
-(213,710)
(572,945) (786,655)
(56,195)
(533,023)
(589,218)
11,150
351,897
115,532
478,579
363,728
125,354
489,082
-
10,000 -
10,000
(139,122)
-
(139,122)
11,150
1,120,625
437,891 1,569,666
758,728
322,359
1,081,087

The minor restricted funds comprise:

TAMAR and ASLAN

Both the TAMAR and ASLAN funds were transferred to All Souls Serve The City CIO in January 2021.

Clubhouse Church

A church family meeting at the All Souls Clubhouse under the leadership of Luke Ijaz.

Wetfoot

Wetfoot is an opportunity for All Souls members to learn and serve alongside Christians in another cultural context.

Rector's Discretionary Fund

A Discretionary Fund for the Rector’s special projects, causes or needs. This includes 'The Good Samaritan' initiative which has a balance of £48,053 as at 31 December 2021.

Student Bursary Fund

A fund to provide bursaries for students attending All Souls student events.

St Peters Church Vere Street Fund

A fund to be spent on improvements to St Peter’s.

2021 Rector’s Student
Clubhouse Discretionary Bursary
TAMAR Church Wetfoot Fund Fund ASLAN St Peters TOTAL
£ £ £ £ £ £ £ £
At 1 January 97,338 62,620 11,898 84,168 8,468 241,051 81,863 587,406
Income - 14,298 492 **47,387 ** - - - 62,177
Expenditure (97,338) (5,274) (68) **(68,328) ** - (241,051) (51,719) (463,778)
Movement (97,338) 9,024 424 **(20,941) ** - (241,051) (51,719) (401,601)
Transfers - (10,460) - - - - - (10,460)
At 31
December - 61,184 12,322 63,227 8,468 - 30,144 175,345
Total restricted funds at 31 December 2021 1,745,012
2020 Rector’s Student
Clubhouse Discretionary Bursary
TAMAR Church Wetfoot Fund Fund ASLAN St Peters TOTAL
£ £ £ £ £ £ £ £
At 1 January 109,473 55,378 12,320 33,127 8,468 164,217 142,325 525,308
Income 112,840 22,124 636 65,234 - 148,817 354 350,005
Expenditure (108,127) (5,720) (1,058) (14,193) - (57,343) (60,816) (247,257)
Movement 4,713 16,404 (422) 51,041 - 91,474 (60,462) 102,748
Transfer (16,848) (9,163) - - - (14,640) - (40,651)
At 31
December 97,338 62,620 11,898 84,168 8,468 241,051 81,863 587,406
Total restricted funds at 31 December 2020 1,668,493

Page 22

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14b. Funds detail - unrestricted funds

The unrestricted funds comprise:

Movements on these funds are shown below:

2021
Balance at 1 January 2021
Income
Expenditure
Movement
Gain / (Loss) on investments
Transfers
Balance at 31 December 2021
2020
Balance at 1 January 2020
Income
Expenditure
Movement
Loss on investments
Transfer
Balance at 31 December 2020
Analysis of net assets by fund type
2021
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due after more than year
Provisions for liabilities
2020
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due after more than year		 Building
General
Organ
Support
2021
Fund
Fund
Fund
Total
£
£
£
£
2,738,307
106,446
28,305
2,873,058
2,688,188
-
-
2,688,188
(2,228,381)
-
(28,305)
(2,256,686)
459,807
-
(28,305)
431,502
63,212
-
-
63,212
(6,540)
7,000
-
460
3,254,786
113,446
-
3,368,232
Building
General
Organ
Support
2020
Fund
Fund
Fund
Total
£
£
£
£
1,903,223
99,446
31,305
2,033,974
2,954,066
- -
2,954,066
(2,198,676)
-
(3,000)
(2,201,676)
755,390
-
(3,000)
752,390
(93,078)
- -
(93,078)
172,772
7,000
-
179,772
2,738,307
106,446
28,305
2,873,058
2021
2021
2021
2021
Unrestricted
Restricted Endowment
Total
Funds
Funds
Fund
£
£
£
£
923,746
-
-
923,746
1,220,546
-
51,083
1,271,629
1,761,203
1,761,012
-
3,522,215
(94,051)
(16,000)
-
(110,051)
(408,344)
-
-
(408,344)
(34,868)
-
-
(34,868)
3,368,232
1,745,012
51,083
5,164,327
2020
2020
2020
2020
Unrestricted
Restricted
Endowment
Total
Funds
Funds
Fund
£
£
£
£
911,442
- -
911,442
1,134,050
-
44,903
1,178,953
1,405,414 1,700,015 -
3,105,429
(150,222)
(31,522)
-
(181,744)
(427,626)
- -
(427,626)
2,873,058
1,668,493
44,903
4,586,454

Page 23

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

15. World Mission grants made

World Mission funds are generated each year through regular giving and special days that are set aside on the church calendar. A World Mission committee meets to propose how these funds are to be distributed and the final approval of this is given by the PCC. All Souls sees this as an ongoing and vital mission policy that reaches out both in the UK and throughout the world.

The following grants were approved by the PCC during the year:

15a. All Souls Mission Partners
Note
Payments made towards the support of All Souls Mission Partners
Adventure Plus (J&T Cox)
Arab World Ministries (I&D F)
BMS Mission Worldwide (H M)
Church Mission Society (RL)
Crosslinks (W&M Mahiani)
GBU Italy (J Elliot)
Friends International (K Gillespie)
Regent College, Vancouver (Hannah Hawksbee)
IFES (V Ramachandra, T Vickers & P V)
Interserve (J Rogers)
London City Mission (D Luogon & J Purslow)
MAF (S Kempsell)
OMF Int. (A&L McClymont, R&C East, R&A L & A T)
OM (A&J H & R Olney)
SIM – UK (M Proctor, K Thompson & S&K R)
UFM Worldwide (T&N Sandell)
Universities & Colleges Christian Fellowship (UCCF) (Dohyun Baek)
Sub-total
Discretionary payments
Africa Inland Mission (AIM)
A Thomas
EHA - re Covid Crisis in India
Global Connections
I & D F
International Justice Mission (IJM)
Iserve
Josh S
Langham Partnership - South Asia Study Bible
Millie Wheeler - CU Staff Worker
Open Doors
S A, LCM
Tearfund (Yemen crisis)
The George Foundation
Wycliffe Bible Translators
Sub-total
Carried forward
3a		 2021
£
15,030
19,370
8,930
2,615
16,220
3,150
4,915
6,000
20,760
9,380
8,620
2,620
61,490
27,750
20,460
13,730
4,465
245,505
7,500
2,000
10,000
625
-
15,000
-
-
15,000
2,000
15,000
3,000
15,000
10,000
7,500
102,625
348,130		 2020
£
14,280
15,620
8,930
2,165
15,620
3,120
8,930
-
28,490
8,930
5,420
2,170
60,255
24,550
17,725
12,980
-
229,185
-
-
-
-
1,000
-
1,500
500
-
-
-
-
-
-
-
3,000
232,185

Page 24

PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

15. World Mission grants made (continued)
Brought forward
15b. Mission grants to projects and organisations
Arocha International
Arocha UK
Adventure Plus
Africa Inland Mission (AIM)
Agape
All Souls Clubhouse
AIM
Al Massira
All Souls Serve the City
Armonia UK Trust
Arab World Ministries
Boaz Trust, Greater Manchester
Bulgarian Support Fund
Chinese Overseas Christian Mission (COCM)
Christianity Explored
Christian Institute
Christian Solidarity Worldwide
CMS
Crosslinks
Crossteach
Daada Luogon (Liberia)
Ditch Foundation
Eagle Project
Focus
Friends International
Free! Recovery
Global Connections
Gospel for Asia
Humanitarian Aid Relief Trust
IFES
International Justice Mission
Kisiizi Hospital
Langham Partnership International
L L Schools
Lausanne
LICC
London City Mission (Paget Centre)
MAT
MEDS
Micah Network
OM UK (silk road challenge)
OMF
Open Doors (Conflict Zones)
Regent College (Hannah Hawksbee)
Release International
Resurrection Church
SAT7
SIM
Tearfund - Zimbabwe
Trustbridge Global Foundation
UCCF
UFM
Via Design
Wycliffe
Zimonya
Sub-total
3a
Total cost of World Mission Grants		 2021
£
348,130
3,500
3,500
5,000
3,000
2,000
-
-
6,000
5,000
6,000
-
2,000
2,000
5,000
5,000
3,000
1,000
-
13,100
1,560
1,000
-
-
4,000
-
5,000
1,000
-
-
16,500
2,000
4,000
15,000
8,000
1,000
5,000
-
8,000
6,000
100
11,000
10,000
3,000
-
2,000
-
1,000
17,000
-
25,000
2,000
2,000
-
-
5,000
221,260
569,390		 2020
£
232,185
5,000
-
4,500
-
2,000
5,000
9,000
6,000
-
3,000
5,000
-
2,000
-
5,000
6,000
2,000
2,500
14,600
2,000
8,000
10,000
3,300
2,000
1,000
10,000
1,675
1,000
1,000
-
4,747
3,000
20,000
2,000
1,000
5,000
37,078
13,000
2,500
100
8,000
8,000
9,500
6,000
6,000
3,000
2,000
23,000
5,000
10,000
2,000
5,000
3,000
4,800
3,000
298,300
530,485

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PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

16. Extra-parochial grants

Each year the PCC approves grants to support related charities within the Parish. A further 1% of our unrestricted donations is set aside to support other mainly local causes that have been identified by the World Mission committee and approved by the PCC.

The following grants from unrestricted funds were approved by the PCC during the year:

Note
All Souls Serve The City
Langham Arts Trust
Sub-total
Adventure Plus
Anglican Mainstream
CARE
Choices
Church of England Evangelical Council
Crossteach
Evangelical Small Churches
Evangelical Alliance Grant
London City Mission
Passion for Life
West London Day Centre
Total unrestricted extra-parochial grants
3a		 2021
£
33,332
195,024
228,356
5,000
-
1,000
4,000
1,250
440
5,000
1,000
2,000
5,000
-
24,690
253,046		 2020
£
-
193,656
193,656
5,000
500
1,000
4,000
750
-
5,000
1,000
1,000
-
3,020
21,270
214,926

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PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

17. Related party transactions and balances

Total donations, across all funds, received from PCC members amounted to £358,345 (2020: £282,630)

Out of pocket expenditure for items bought on behalf of the Church has been reimbursed to members of the PCC. Expenditure is categorised within the relevant expenditure category and as such is not separately disclosed in the financial statements.

7 PCC members received a total of £2,638 for expenses incurred on behalf of the PCC (2020: 7 PCC members were reimbursed £884). 3 PCC members, Mrs Natasha Ling, Mr Ross Hendry and Mr Michael Sharp, are married to serving ministers at All Souls, Langham Place. During the year ended 31 December 2021, by virtue of their relationships, Mrs Natasha Ling and Mr Ross Hendry benefited from the provision of housing within the parish, and Mr Michael Sharp benefited from an annual housing allowance of £6,721.

Kirsten Russell, a PCC member, received £5,080 from the World Mission fund in her capacity as an All Souls Mission Partner, and £16,000 towards projects she is involved in with Middle East Development Service, Africa Inland Mission and SIM international. All of these are detailed in note 15.

Richard East, a PCC member, received £7,810 from the World Mission fund in his capacity as an All Souls Mission Partner, and £3,000 for a project he is involved in with OMF in Japan. These are listed in note 15.

Litsa McClymont, a PCC member, received £6,370 from the World Mission fund in her capacity as an All Souls Mission Partner. This is included in note 15.

At 31 December 2021, £99,254 was due from All Souls Serve The City (2020: £19,050 was due from All Souls Clubhouse). These are related parties as All Souls Church has the power to appoint or remove a significant number of the trustees of All Souls Serve The City (2020: All Souls Clubhouse). Transactions with All Souls Serve The City (2020: All Souls Clubhouse) were as follows:

The 1 January 2021 balances on the TAMAR and ASLAN restricted funds, of £97,338 and £241,050 respectively, were transferred to ASSTC. These form part of 'Other grants made' in note 3a.

All Souls Church has provided administrative and technical support to All Souls Serve The City during 2021 and expects to do so for the foreseeable future.

All Souls Church, Langham Place also has a controlling interest in both St Paul's Trust and Langham Arts Trust. As well as operational control over St Paul's Trust and Langham Arts Trust, the majority of trustees for these two organisations are also trustees of All Souls Church.

As at 31 December 2021:

In 2021 Langham Arts Trust was paid grants totalling £195,024 (2020: £193,656). In 2021 grants totalling £8,000 (2020: £2,000) were made to L L Schools. Michael Hall, a member of the PCC, is also a trustee of this charity.

18. Auditors' remuneration

The audit fee for 2021 is £15,600 (2020: £14,300). Expenditure recognised in the SOFA in connection with the auditors was £19,120 (2020: £14,300) in respect of audit services, £1,200 (2020: £720) in respect of accountancy services and £5,044 (2020: £3,067) in respect of payroll services.

19. Operating leases

As at 31 December 2021 total future minimum lease payments under non-cancellable operating leases were as follows:

Amounts falling due:
Within one year
Later than one year and not later than five years		 2021
£
37,177
31,797
68,974		 2020
£
34,982
38,480
73,462

Lease payments recognised as an expense in the SOFA total £35,028 (2020: £34,982).

20. Capital commitments

As at the balance sheet date, the Church had no capital commitments (2020: £Nil).

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PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

21. Post balance sheet events

There are no post balance sheet events to report.

22. Statement of financial activities for the year ended 31 December 2020

Income and endowments
from:
Donations and legacies
Church activities
Other trading activities
Investments
Total income and
endowments
Expenditure on:
Raising funds
- Trading expense
- Investment
management costs
Church activities
Total expenditure
Net income / (expenditure)
before gain/(loss) on
investments
Gain / (Loss) on
investments
Net Income / (Expenditure)
Transfer of funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
at 1 January 2020
Total funds carried forward
at 31 December 2020		 2020
Unrestricted
Endowment
TOTAL
World
Mission
Building
Other
Total
£
£
£
£
£
£
£
2,838,294
656,421
325,299
138,919
1,120,639
-
3,958,933
14,678
-
66,000
211,087
277,087
-
291,765
96,747
-
-
-
-
-
96,747
4,347
1,956
28,624
-
30,580
-
34,928
FUNDS
Restricted
2,954,066
658,377
419,923
350,006
1,428,307
-
4,382,373
(81,475)
-
-
(125)
(125)
-
(81,600)
-
-
(7,079)
-
(7,079)
-
(7,079)
(2,120,201)
(533,023)
(49,116)
(247,134)
(829,273)
-
(2,949,473)
(2,201,676)
(533,023)
(56,195)
(247,258)
(836,477)
-
(3,038,153)
752,390
125,354
363,728
102,748
591,830
-
1,344,220
(93,078)
-
-
-
-
(23,522)
(116,600)
659,312
125,354
363,728
102,748
591,830
(23,522)
1,227,620
195,255
-
(145,968)
(49,287)
(195,255)
-
-
854,567
125,354
217,760
53,461
396,575
(23,522)
1,227,620
2,033,974
197,005
534,122
525,308
1,256,435
68,425
3,358,834
2,888,541
322,359
751,882
578,769
1,653,010
44,903
4,586,454

Page 28