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← The Parochial Church Council Of The Ecclesiastical Parish Of All Souls, Langham Place, London

2023-12-31-accounts

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

Charity number: 1132882

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

PCC MEMBERS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

CONTENTS

Page
Reference and administrative details of the church and its advisers 1
PCC members' report 2 - 8
Independent auditors' report on the financial statements 9 - 12
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16 - 42

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHURCH AND ITS ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Charity registered
number 1132882
Principal office 2 All Souls Place
Langham Place
London
W1B 3DA
Independent auditors Griffin Stone Moscrop & Co
Chartered Accountants
Statutory Auditors
21-27 Lamb's Conduit Street
London
WC1N 3GS
Bankers Barclays Bank plc
UK House
180 Oxford Street
London
W1D 1EA
Rector The Reverend Charles Skrine
12 Weymouth Street
London
W1W 5BY

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DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

PCC MEMBERS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The council members (who are trustees for the purposes of charity legislation) have pleasure in presenting their report and the financial statements of the charity for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in the 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.

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 2023 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) Reverend Philip Keen Reverend Jonathan Gillespie Reverend William Stileman Reverend Luke Ijaz Reverend Richard Tice (to August 2023) Church Wardens: Joanna Richards Robert Turner Member of the General Synod Sophie Clarke Members of the Diocesan Synod: Paul Hawkins Victor Truong Jeremy Thomas Representatives of the Deanery Synod: Richard Bagwell Alison MacKenzie James Brightwell Litsa McClymont (to May 2023) Alison Burn Jonathan Morrow Mary Currie Mark O'Leary (to May 2023) John Ellerton Rachel Oti (from May 2023) Jennifer Gallagher (Lay Reader) David Rollason Steven Ho Erna Smit (to May 2023) Derek Lowe Susan Stamper-Iveson Stephen Mackay (Lay Reader) Lay Reader elected to PCC pursuant to Rule M15(1)(h) of the Church Representation Rules: David Turner Elected Members: Chloe Black Chioma Onwere Hana Cho Caroline Orji Richard East Rachel Oti (to May 2023) Sarah Gawley Vanessa Radom (from May 2023) Ilona Greyling (from May 2023) Rachel Rider (to May 2023) Michael Hall (Treasurer) Kirsten Russell (to May 2023) Joel Huang Michael Sharp (to July 2023) Ulrich Kaltenbronn (from May 2023) Louise Smith Marti Kiraly Paul Stamper-Iveson Steven Legg Brian Weaver (co-opted) Uche Madukwe (from May 2023) Jennifer Wong Fiona Ochan (PCC Secretary) Celia Wyatt Ben Okumu Nathaniel Yisa Grace Ong

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DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

All Souls, Langham Place is an evangelical Anglican Church in London's West End that regularly hosts 1,400 worshippers across three services. With an international and diverse congregation, the 2023 APCM recorded 972 members on the electoral roll. The church meets in a Grade I listed building that accommodates up to 1,000 people.

The church is governed by the Parochial Church Council (PCC) which works with the Rector to promote the whole mission of the church: pastoral, evangelistic, social and ecumenical. Senior lay staff advise at PCC meetings without voting rights.

Appointment and induction of PCC members

Church Representation Rules guide the election of one-third of PCC members annually for a three-year term. PCC members, including fourteen Deanery Synod representatives, undergo an induction, ensuring awareness of legal obligations and council roles.

Risk management statement

The PCC acknowledges its responsibility for risk monitoring, outlined in the annual Risk Policy. The risk register is reviewed termly by designated risk owners - the Rector and principal PCC sub-committees. Efforts are ongoing to enhance the risk framework's effectiveness.

Organisational policy

The PCC convenes monthly, excluding May, August and December, with additional sub-committees formed as needed. The Director of Operations oversees day-to-day operations, holding delegated authority for strategic planning and operational oversight. Key management staff roles include Clergy, Head of People and Culture, Senior Ministers, Director of Operations, and managers in key areas.

Charitable status

Registered under charity number 1132882, All Souls Church operates as a registered charity.

Related charities

All Souls, Langham Place, All Souls Music and All Souls Serve The City CIO have agreed to work together to realise the mission of All Souls Church through the common Vision, and shared Values and Beliefs. In addition, the St Paul's Trust exists for the benefit of the parish. While the PCC can appoint and remove trustees of some of those charities, they undertake work which is supplementary to All Souls, Langham Place, are governed independently, and are financially separate. The presented financial statements focus solely on the PCC's direct control activities.

OBJECTIVES AND ACTIVITIES

Our Vision: All For Jesus

Aligning with Charity Commission guidance, the PCC ensures public benefit, particularly in advancing religion. Safeguarding duties are adhered to, emphasising the House of Bishops' guidance for children and vulnerable adults. The PCC's mission fosters a community where individuals can live out their faith.

Rector's report

In the book of Acts when Paul and Barnabas first brought the gospel to the cities of Cilicia they experienced both challenge and great opportunity. In 2023 God has continued to open a door of faith for all the nations in London (Acts 14v27). We have seen people trust Jesus and be baptised. We have shared the message of salvation through ministries as diverse as Free English, the Open Air Teams, Prom Praise, and Christianity Explored, and we saw the Lord bring 15,000 people to our Christmas services and events, many thousands of whom took home one of the New Testament gospels.

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DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

At the same time we have faced multiple challenges particularly to our place in the Church of England and to our finances. More painfully, the family of Christians gathered at All Souls live in a city where it is difficult to follow Jesus, and where we can be misunderstood or opposed for seeking to be salt and light in his name in every part of London. Paul and Barnabas devoted themselves to strengthening churches, encouraging them to remain true to the faith because ‘we must go through many hardships to enter the kingdom of God.’ (Acts 14v22). We have continued to strengthen our discipleship of one another with an increased focus on the three congregations as the place where we care for each other, with a packed Roots evening for those new at All Souls, and in individual and group settings as varied as One Students, Fellowship Groups and ERGON.

We give thanks for a tangible sense of growing unity within the All Souls church family as we have faced difficult decisions. We have also seen remarkable answers to prayer in how orthodox networks within England have stood in support of each other, and we have been upheld by the support and prayers of brothers and sisters around the world.

Above all we have sought to make 2023 at All Souls a year focused on prayer. It is only the Lord who can give endurance, boldness and hope, and every opportunity to share Jesus is always what God has done, even as he works through the people he has gathered.

Wardens' report

2023 was another full year for the PCC.

Major reviews of All Souls Church’s housing, buildings and finances that were begun in 2022 concluded in 2023 and we were very grateful for the expertise and skills of all those involved. The reviews led to wide-ranging, significant changes, including the introduction of a new ministers’ housing policy, renewed clarity on the best uses for our public buildings to serve the mission of All Souls, as well as significant and painful cuts to our spending to offset a large real-terms drop in income caused by high inflation among other factors. Those cuts included closing the All Souls counselling service, although we continue to offer access to counselling for the church family. We remain very grateful for the professionalism and commitment of those who worked for the counselling service as it closed.

2023 saw us continue a significant piece of work on healthier, safer church culture and, following recommendations from the Culture Review Committee, the PCC adopted eight areas for further growth over the next five years:

  1. A church with leaders who are growing in Christlikeness

  2. A church that responds well when things go wrong

  3. A church where all are safe

  4. A church where I can access care

  5. A church that disagrees well

  6. A church where everyone belongs and has the opportunity to be included

  7. A church with clarity and transparency in decision-making

  8. A church which listens and communicates well in decision-making

This work dovetails with the upcoming work of the Governance & Risk Committee aimed at giving greater clarity, transparency and engagement on church governance to increase participation and strengthen our inclusion. On risk management, the committee supported the Director of Operations in rolling out a new approach, which we will continue to embed in 2024.

2023 saw the successful completion of the 2024 Building Project - a significant repair of the church roof and steps, and improvements to the whole exterior of the church. Huge thanks go to David Shafik, our Buildings and Property Manager, who oversaw the project which came in on time and under budget.

As in the previous year, considerable PCC focus in 2023 was on the Church of England’s Living in Love and Faith (LLF) process.

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THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The Church of England voted in February 2023 to introduce prayers of blessing for same-sex couples, a decision that redefines the Bible's understanding of sin and marriage, and as such is a first-order issue. To express our unity as a PCC and to convey our strong objection to the proposals, the PCC voted in January 2023 to pause our contribution to the Common Fund.

Later on in the year, the Rector, with the Church Wardens, held a special All Souls Church meeting to explain what was happening on LLF, why it matters, and how All Souls would respond should the prayers be introduced in November, which they were. That response included writing to the Bishop of London to express our dismay at the Church of England’s departure from biblical orthodoxy and to state that All Souls Church would begin a process of differentiation. It remains a matter of grave concern that, while plans for the prayers are marching ahead, there remains no clarity around what, if any, structural, pastoral provision will be offered to orthodox churches, and that the consciences of ordained ministers and others are not being accommodated even in the immediate time of great uncertainty. Alongside ongoing dialogue with the Bishop of London, we continue to work closely with the Church of England Evangelical Council, among others, in pressing for a differentiated, structural settlement for churches like ours.

The implications of the Church of England's departure from biblical Christianity are immense and impact significantly the witness of the Church, both within the UK and globally. Please continue to pray for the PCC as we consider the way forward. We have been incredibly grateful to the church family throughout the year for their support, prayers, unity and encouragement.

Property and facilities report

Throughout the year, we have diligently pursued repairs and renovations across all properties, addressing cyclical compliance issues to ensure safety and quality standards are met.

The 2024 project, which concluded on 12 May 2023, marked a significant milestone. The initial contract sum amounted to £1,829,527 + VAT, totalling £2,195,432. Following meticulous assessment and negotiations, the final contract account was agreed upon at £1,697,945 + VAT, equivalent to £2,037,534. Notably, 87% of the VAT was successfully reclaimed under the LPOW grant scheme. With the Defects Liability Period set to end on 11 May 2024, the outcome has garnered unanimous approval.

A significant highlight includes the refurbishment of five out of the eight flats at 139 Cleveland Street to an exemplary standard, incorporating decarbonisation measures. These units have been successfully leased to external clients on a commercial basis, reflecting the success of the endeavour. The project, valued at £237,277 + VAT (£284,732), also involved the safe removal of asbestos-containing materials and was financed from existing funds.

Staffing report

In 2023, All Souls Church welcomed several new appointments, including a Bookings Coordinator, Catering Coordinator, Buildings & Property Assistant, Senior Buildings & Property Assistant, Free English Worker & Admin Assistant in Finance, and an HR Officer.

However, the church also bid farewell to several valued members of the team. Luke Ijaz departed from his role as Senior Minister after serving previously as the vicar to the Cleveland Street Congregation and later as the leader of the 11:30 service and workplace minister at All Souls; he is now serving as the Rector of Emmanuel Church Wimbledon. Ash Martin, who dedicated 12 years to the Finance Team as Finance Manager, with two additional members of the finance team, also departed in 2023. The difficult decision to close the counselling service led to the departure of three team members who had faithfully served in this ministry for a combined 22 years. Additionally, Rico Tice, the Minister for Evangelism for over 29 years, transitioned to focus full-time on Christianity Explored, accompanied by his long-serving colleague Grace McDowell. Ollie Lansdowne concluded his role as Students’ Minister to pursue ordination training.

FINANCIAL REVIEW

The statement of financial activities (SOFA) shows unrestricted net expenditure of £462,833 from normal operations (excluding legacies) (2022 - £329,526). Unrestricted legacies totalled £815 this year (2022 - £18,890). Restricted net expenditure was £302,087 for the year (2022 - £1,055,612).

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THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Of the total unrestricted income of £2,216,711, 88% (2022 - £2,362,452, 91%) was sourced from congregational giving and 12% (2022 - 9%) came from other sources, including legacies. Several factors combined to limit unrestricted income, among them a higher turnover of members of the congregation following COVID, the cost of living crisis, and fears for the future of the church in the Church of England. These factors will continue to impact the church’s income negatively in 2024, highlighted as a principal risk below.

Unrestricted expenditure on church activities totalled £2,630,099 (2022 - £2,585,634). The breakdown of this expenditure is as follows: £916,221, 35% (2022 - £925,120, 36%) relates to salaries and other costs for the ministry team, £369,002, 14% (2022 - £292,427, 11%) is direct property costs for All Souls, SPRAS and SPVS, £24,821, 1% (2022 - £121,004, 5%) is direct ministry costs and £325,311, 12% (2022 - £320,384, 12%) relates to grants made. The balance of £994,744, 38% (2022 - £926,699, 36%) relates to support team and governance costs for all activities, which have been allocated to church activities as per Note 11.

The annual Thanksgiving and Gift Day brought in £140,023 from donations and £26,850 in gift aid (2022 - £282,893 and £51,800, respectively) for the church’s unrestricted funds.

The remaining funding of the 2024 project, mentioned in the Property and Facilities Report above, £479,208, completed in the year. Of the £2,086,150 spent on the fabric of the church building at Langham Place during the project, the congregation gave £1,748,092 and the church received grants of £338,058 from other sources.

The church held its two World Mission Sundays during the year. £203,797 was received on these gift days for the World Mission Fund. The World Mission Committee approved grants from the Mission Fund totalling £557,710 (2022 - £506,410). These are detailed in Note 14.

Principal risks and strategies for mitigation

In 2024, All Souls Church faces three key strategic risks. Initially, the PCC sanctioned a budget with the prudent inclusion of reserves to sustain it. However, persistent declines in income have led to the exceeding of the budgeted deficit, sparking apprehensions about the church's enduring financial health and viability.

To mitigate this risk, the church has implemented various measures. These include actively managing its cash reserves by regularly reviewing its financial position, income, and expenditure. Additionally, the church completed a spending review process to identify areas where costs can be reduced without compromising its mission and objectives. Moreover, the church plans to liquidate part of its surplus housing stock, which does not align with the housing policy and strategy adopted in January 2023 and use the capital from these sales to fund ongoing ministry in the parish.

Overall, the church's approach to managing the risk of a deficit budget and cash reserves is prudent and responsible. By continuing to assess its financial position, reduce costs, and manage its cash reserves effectively, the church is well-equipped to navigate financial challenges.

The second risk involves the pressure faced by All Souls to remain a biblical gospel church amidst doctrinal changes within the Church of England, particularly regarding human sexuality, gender, and theological matters. To mitigate this risk, All Souls has been actively engaging with Church of England structures. The Rector has utilised his positions within the General Synod and the Church of England Evangelical Council to advocate for maintaining the church's commitment to biblical teaching. Additionally, the PCC's decision to pause Common Fund contributions to the London Diocesan Fund underscores its stance on the denomination's direction.

Despite the doctrinal changes within the Church of England, All Souls remains committed to its mission and values grounded in the Bible. By engaging with Church of England structures and developing strategies to address and mitigate concerns, All Souls is positioned to remain true to its mission.

Our third identified risk pertains to safeguarding, a critical aspect of our ministry as we serve a diverse range of vulnerable groups, including children and vulnerable adults. In response to the findings of the 31:8 report following the abuses at Emmanuel Church Wimbledon, we are actively implementing its recommendations. This involves bolstering our Safer Recruitment protocols and expanding our staff team to include a part-time Safer Recruitment Coordinator, alongside our full-time Safeguarding Officer, providing additional resources to effectively implement and monitor robust processes.

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THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

We take pride in our ongoing collaboration with the Diocesan Safeguarding Team, which further fortifies our safeguarding practices. Recent audits conducted by our dedicated Safeguarding Committee underscore our unwavering commitment to ensuring that robust safeguarding measures are firmly in place.

Furthermore, continuous enhancements in training programs and the reinforcement of our code of conduct are central to our comprehensive safeguarding strategy. We must remain vigilant and proactive in addressing safeguarding concerns. We are dedicated to drawing insights from various reports, both at the national church level and from similar organisations, to refine and strengthen our safeguarding practices continually.

Investment policy

Investments are held on behalf of the parish by the London Diocesan Fund to provide an income return. 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 All Souls Church charities or as part of unsolicited giving to beneficiaries recommended by the World Mission Committee.

Reserves policy

At 31 December 2023 funds held totalled £3,032,240 (2022 - £3,792,197), of which £397,616 (2022 - £704,353) were restricted funds. The PCC has 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% (2022 - 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 2023 the adjusted unrestricted fund balance was calculated as being £1,100,745 in surplus. This is £568,939 more than the £531,806 required by the policy.

Auditors

A proposal was made at the Annual Parochial Church Meeting in May 2023 that a tender process would be undergone later in the year to select and appoint auditors for the year ended 31 December 2023. This process was completed and the decision to appoint Griffin Stone Moscrop & Co. as auditors was confirmed.

A resolution will be proposed at the 2024 APCM 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 PCC Members' 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.

In preparing those financial statements, the PCC members are required to:

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DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Approved by order of the PCC on 15 April 2024 and signed on its behalf by:

................................................ Michael Hall Treasurer

................................................ Robert Turner Church Warden

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DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

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 The Parochial Church Council of All Souls Church, Langham Place (the 'charity') for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 charity'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.

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THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

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

Other information

The other information comprises the information included in the PCC members' report other than the financial statements and our auditors' report thereon. The PCC members are responsible for the other information contained within the PCC members' 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

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

Responsibilities of PCC members

As explained more fully in the "PCC members' responsibilities" statement, the PCC members are responsible for the preparation of the financial statements which 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.

In preparing the financial statements, the PCC members are responsible for assessing the charity'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 charity 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 the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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.

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THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

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

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 designed and implemented to detect irregularities, including fraud, are 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:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

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

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 charity and the PCC members, as a body, for our audit work, for this report, or for the opinions we have formed.

Griffin Stone Moscrop & Co

Chartered Accountants Statutory Auditors 21-27 Lamb's Conduit Street London WC1N 3GS 19 April 2024

Griffin Stone Moscrop & Co are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income and
endowments from:
Donations and legacies
4
Church activities
5
Other trading activities
6
Investments
7
Total income and
endowments
Expenditure on:
Raising funds
8,9
Church activities
10
Total expenditure
Net expenditure
before net
gains/(losses) on
investments
Net gains/(losses) on
investments
Net
(expenditure)/income
Transfers between
funds
26
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2023
£
1,959,195
37,406
191,763
28,347
2,216,711
63,561
2,630,099
2,693,660
(476,949)
14,931
(462,018)
4,650
(457,368)
3,042,643
(457,368)
2,585,275		 Restricted
funds
2023
£
1,046,481
72,998
945
35
1,120,459
-
1,422,546
1,422,546
(302,087)
-
(302,087)
(4,650)
(306,737)
704,353
(306,737)
397,616		 Endowment
funds
2023
£
-
-
-
-
-
-
-
-
-
4,148
4,148
-
4,148
45,201
4,148
49,349		 Total
funds
2023
£
3,005,676
110,404
192,708
28,382
3,337,170
63,561
4,052,645
4,116,206
(779,036)
19,079
(759,957)
-
(759,957)
3,792,197
(759,957)
3,032,240		 Total
funds
2022
£
3,415,490
90,970
160,924
12,381
3,679,765
34,713
4,958,559
4,993,272
(1,313,507)
(58,623)
(1,372,130)
-
(1,372,130)
5,164,327
(1,372,130)
3,792,197

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

The notes on pages 16 to 42 form part of these financial statements.

Page 13

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

BALANCE SHEET AS AT 31 DECEMBER 2023

Note
Fixed assets
Tangible assets
18
Investments
19
Current assets
Stocks
20
Debtors
21
Investments
Cash at bank and in hand
Creditors: amounts falling due within one
year
22
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
23
Provisions for liabilities
Total net assets
Charity funds
Endowment funds
26
Restricted funds
26
Unrestricted funds
26
Total funds		 -
914,412
321,367
699,943
1,935,722
(456,500)		 2023
£
1,873,732
49,349
1,923,081
1,479,222
3,402,303
(370,063)
-
3,032,240
49,349
397,616
2,585,275
3,032,240		 1,727
573,075
795,890
1,032,707
2,403,399
(228,908)		 2022
£
1,915,380
199,875
2,115,255
2,174,491
4,289,746
(389,203)
(108,346)
3,792,197
45,201
704,353
3,042,643
3,792,197

The financial statements were approved and authorised for issue by order of the PCC on 15 April 2024 and signed on its behalf by:

................................................ ................................................ Michael Hall Robert Turner Treasurer Church Warden

The notes on pages 16 to 42 form part of these financial statements.

Page 14

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Cash flows from operating activities
Net cash used in operating activities
29
Cash flows from investing activities
Dividends, interests and rents from investments (excluding Hargreaves
Lansdown)
Purchase of tangible fixed assets
Purchase of investments
Net cash provided by/(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
30		 2023
£
(821,182)
26,877
(12,982)
-
13,895
(807,287)
1,828,597
1,021,310		 2022
£
(1,378,532)
11,559
(23,983)
(2,000)
(14,424)
(1,392,956)
3,221,553
1,828,597

The notes on pages 16 to 42 form part of these financial statements

Page 15

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. General 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 church's operations and its principal activites can be found in the PCC Members' Report.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

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 the Charities SORP (FRS 102) published 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 Parochial Church Council of All Souls Church, Langham Place meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 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. Although there are financial challenges to achieving surpluses, the PCC is convinced that actions in place will ensure the church remains a going concern.

2.3 Income

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Donations and legacies

Income from church activities and other trading activities

Income from investments

Page 16

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.3 Income (continued)

2.4 Expenditure

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

Expenditure on raising funds includes all expenditure incurred by the church to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the church's objectives, as well as any associated support costs.

Allocation of support and governance costs

Expenditure is charged on the accruals basis. It is allocated to the activities in the statement of financial activities 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.

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 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.

2.5 Tangible fixed assets and depreciation

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 Church Wardens 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

Page 17

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.5 Tangible fixed assets and depreciation (continued)

assets are not valued in the financial statements. Items acquired since 1 January 2000 have been capitalised and depreciated on a straight-line basis in the financial statements over their currently anticipated useful economic life (initially over 20 years).

All expenditure incurred during the year on consecrated or benefice buildings, individual items under £5,000 or on repair of moveable 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.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Net gains/(losses) on investments’ in the statement of financial activities.

2.7 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.8 Debtors

Amounts owing to the PCC 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.

2.9 Cash at bank and in hand

Cash at bank and in hand includes 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.

Page 18

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.10 Liabilities and provisions

Liabilities are recognised when there is 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.

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

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

2.11 Financial instruments

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

2.12 Operating leases

Rentals paid under operating leases are charged to the statement of financial activities in the period to which they relate.

2.13 Pensions

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. The pension charge represents the amounts payable by the church to the fund in respect of the year.

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the PCC members in furtherance of the general objectives of the church and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the PCC members for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the church for particular purposes. 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 aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

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.

Page 19

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. 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 actual results.

4. Income from donations and legacies

Unrestricted
funds
2023
£
Gift aid donations
1,048,617
Charity vouchers
181,330
Income tax recovered
291,484
Offerings
28,046
Gift Days
140,225
Donations
233,611
Legacies
815
Grants
35,067
1,959,195
Total 2022
2,164,635		 Restricted
funds
2023
£
229,530
24,675
97,541
347
203,797
90,737
-
399,854
1,046,481
1,250,855		 Total
funds
2023
£
1,278,147
206,005
389,025
28,393
344,022
324,348
815
434,921
3,005,676
3,415,490		 Total
funds
2022
£
1,539,703
287,234
460,439
510
307,929
522,677
21,556
275,442
3,415,490

5. Income from church activities

Unrestricted
funds
2023
£
Facilities use
32,940
Wetfoot
-
Fees
4,466
37,406
Total 2022
24,519		 Restricted
funds
2023
£
72,998
-
-
72,998
66,451		 Total
funds
2023
£
105,938
-
4,466
110,404
90,970		 Total
funds
2022
£
89,094
451
1,425
90,970

Page 20

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Income from other trading activities

Unrestricted
funds
2023
£
Income from trading
23,916
Church hall lettings
22,950
Residential rents
89,466
Other
55,431
191,763
Total 2022
160,924		 Restricted
funds
2023
£
945
-
-
-
945
-		 Total
funds
2023
£
24,861
22,950
89,466
55,431
192,708
160,924		 Total
funds
2022
£
10,695
11,481
88,849
49,899
160,924

7. Income from investments

Unrestricted
funds
2023
£
Interest on short-term deposits
26,501
Dividends on trusts and holdings
1,846
28,347
Total 2022
12,374		 Restricted
funds
2023
£
-
35
35
7		 Total
funds
2023
£
26,501
1,881
28,382
12,381		 Total
funds
2022
£
10,329
2,052
12,381

Page 21

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

8. Expenditure on raising funds: fundraising trading expenses

Unrestricted
funds
2023
£
Catering - staff costs
-
Catering - other costs
61,268
Audio and resource centre
1,727
62,995
Total 2022
34,158
Expenditure on raising funds: investment management costs
Unrestricted
funds
2023
£
Hargreaves Lansdown fees
566
Total 2022
555		 Total
funds
2023
£
-
61,268
1,727
62,995
34,158
Total
funds
2023
£
566
555		 Total
funds
2022
£
13,022
16,019
5,117
34,158
Total
funds
2022
£
555

9. Expenditure on raising funds: investment management costs

Page 22

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

10. Analysis of expenditure on church activities

Summary by fund type

Unrestricted
funds
2023
£
Grants
325,311
Clergy and ministries
1,172,890
ASLP, SPRAS, and SPVS
684,619
Direct ministry costs
447,279
2,630,099
Total 2022
2,585,634		 Restricted
funds
2023
£
594,310
210,108
616,247
1,881
1,422,546
2,372,925		 Total
2023
£
919,621
1,382,998
1,300,866
449,160
4,052,645
4,958,559		 Total
2022
£
828,366
1,296,353
2,301,575
532,265
4,958,559

11. Analysis of expenditure by activities

Grants
Clergy and ministries
ASLP, SPRAS, and SPVS
Direct ministry costs
Total 2022		 Activities
undertaken
directly
(see below)
2023
£
-
1,126,091
984,956
26,310
2,137,357
3,184,171		 Grant
funding of
activities
(see Note
13)
2023
£
919,621
-
-
-
919,621
828,366		 Support
costs
(see below)
2023
£
-
256,907
315,910
422,850
995,667
946,022		 Total
funds
2023
£
919,621
1,382,998
1,300,866
449,160
4,052,645
4,958,559		 Total
funds
2022
£
828,366
1,296,353
2,301,575
532,265
4,958,559

Page 23

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. Analysis of expenditure by activities (continued)

Analysis of activities undertaken directly

Clergy Diocesan Common Fund
salaries
Staff costs
Working costs
Accommodation costs
Telephone, print, postage and
stationery
Electricity, gas and water
Maintenance and repairs
Insurance
Consumables
Depreciation
Card and bank charges
Services and communion
Other church running costs
Music and organ tuning
Children and youth
Student work
Church family and workplace
Sunday services
Springboard/Roots
Pastoral
Evangelism
Special events
Other costs
Total 2022		 Clergy and
ministries
2023
£
217,195
444,227
36,189
422,422
6,058
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,126,091
1,027,745		 ASLP,
SPRAS, and
SPVS
2023
£
-
-
-
-
-
65,770
749,628
30,865
11,973
54,627
17,048
8,761
46,284
-
-
-
-
-
-
-
-
-
-
984,956
2,029,760		 Direct
ministry
costs
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
2,453
5,537
7,055
(7,798)
2,679
(3,796)
6,352
(2,746)
16,574
-
26,310
126,666		 Total
funds
2023
£
217,195
444,227
36,189
422,422
6,058
65,770
749,628
30,865
11,973
54,627
17,048
8,761
46,284
2,453
5,537
7,055
(7,798)
2,679
(3,796)
6,352
(2,746)
16,574
-
2,137,357
3,184,171		 Total
funds
2022
£
261,943
385,808
40,935
333,455
5,604
51,428
1,821,680
38,327
6,485
57,351
14,993
4,045
35,451
8,099
8,688
10,414
12,877
16,744
6,239
5,758
29,644
28,137
66
3,184,171

Of the above, £1,353,930 is unrestricted expenditure and £827,313 is restricted expenditure (2022 - £1,338,551 is unrestricted expenditure and £1,845,620 is restricted expenditure).

Page 24

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Working costs
Telephone, print, postage and
stationery
Technology
Governance costs (see Note 12)
Total 2022		 Clergy and
ministries
2023
£
212,385
6,115
3,089
8,816
26,502
256,907
268,608		 ASLP,
SPRAS, and
SPVS
2023
£
261,163
7,519
3,798
10,841
32,589
315,910
271,815		 Direct
ministry
costs
2023
£
349,572
10,064
5,084
14,510
43,620
422,850
405,599		 Total
funds
2023
£
823,120
23,698
11,971
34,167
102,711
995,667
946,022		 Total
funds
2022
£
777,696
29,401
9,471
33,194
96,260
946,022

Support costs have been allocated to the above three activities by apportioning time spent by staff on each activity area. In the year ended 31 December 2023, £994,744 has been charged against unrestricted income and £923 has been charged against restricted income (2022 - £926,699 charged against unrestricted income and £19,323 against restricted income).

ASLP, SPRAS and SPVS costs relate to the running of the three main buildings.

12. Governance costs

Unrestricted
funds
2023
£
PCC expenses
17
Audit fees
16,800
Legal, professional and accountancy fees
85,894
102,711		 Restricted
funds
2023
£
-
-
-
-		 Total
funds
2023
£
17
16,800
85,894
102,711		 Total
funds
2022
£
369
15,000
80,891
96,260

Page 25

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13. Grants

Unrestricted
funds
2023
£
All Souls mission partners (see Note 14a.)
-
Other world mission grants (see Note 14b.)
-
Ordinands and bursaries
26,761
Extra-parochial grants (see Note 15)
298,550
Other grants made
-
325,311		 Restricted
funds
2023
£
399,910
157,800
-
-
36,600
594,310		 Total
funds
2023
£
399,910
157,800
26,761
298,550
36,600
919,621		 Total
funds
2022
£
292,810
213,600
29,414
282,222
10,320
828,366

Page 26

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14. 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. The World Mission Committee meets to propose how these funds are to be distributed and final approval 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:

14a. All Souls Mission Partners
Payments made towards the support of All Souls Mission Partners
Adventure Plus (J & TC)
Arab World Ministries (I & DF)
BMS Mission Worldwide (HM)
Crosslinks (W & MM)
IF (via Stewardship)
IFES (VR, TV, PV)
Interserve (JR & CSC donation)
London City Mission (DL, JP, SP & CSC donation)
OMF Int. (R & CE, RE, AL, A & LM, AT)
OM UK (A & JH, RO)
SIM UK (HH, MP, S & KR)
Universities & Colleges Christian Fellowship (UCCF) (DB)
Payments of less than £7,501 each
Discretionary payments
Africane
Angintde
CE
Croatian Church
IFES Trust
Langham Partnership - South Asia Study Bible
Mahalira
OM International
Trustbridge
Universities & Colleges Christian Fellowship (UCCF)
WBT
Payments of less than £7,501 each
Carried forward		 2023
£
16,050
-
10,040
8,775
10,070
21,990
10,540
11,080
66,070
29,840
32,785
10,040
16,880
244,160
30,000
20,000
15,000
20,000
-
-
25,000
-
10,000
15,000
20,000
750
155,750
399,910		 2022
£
15,000
19,560
9,380
16,400
-
20,540
9,380
9,880
61,740
27,880
13,920
9,380
3,300
216,360
-
-
-
-
15,000
15,000
-
20,000
-
-
-
26,450
76,450
292,810

Page 27

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14. World Mission grants made (continued)

Brought forward
14b. Mission grants to projects and organisations
Adventure Plus
All Souls Serve The City CIO
IFES
Kisiizi Hospital
Langham Partnership International
Lausanne
Mahalira
MAT
MEDS
OM UK
OMF
Open Doors
SIM
Trustbridge Global Foundation
Wycliffe WBT
Grants of less than £7,501 each
Total World Mission grants		 2023
£
399,910
-
-
-
10,000
10,000
10,000
8,000
-
-
21,500
9,000
10,000
16,300
-
-
63,000
157,800
557,710		 2022
£
292,810
11,500
8,000
9,500
-
15,000
-
-
12,000
13,000
-
-
9,000
17,000
17,000
9,000
92,600
213,600
506,410

15. Extra-parochial grants

Each year the PCC approves grants to support related charities within the parish. A further 1% of 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:

All Souls Serve The City CIO
Langham Arts Trust
LGST		 2023
£
68,664
186,000
43,886
298,550		 2022
£
88,996
193,226
-
282,222

Page 28

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

16. Auditors' remuneration

2023 2022
£ £
Fees payable to the church's auditors for the audit of the financial
statements 16,800 15,000

Expenditure recognised in the statement of financial activities in connection with the auditors was £16,800 (2022 - £15,000) in respect of audit services, £3,756 (2022 - £780) in respect of accountancy services, and £3,360 (2022 - £3,257) in respect of payroll services.

17. Staff costs

Wages and salaries
Social security costs
Pension costs		 2023
£
1,103,663
88,586
72,766
1,265,015		 2022
£
1,027,355
86,999
62,891
1,177,245

On average, the PCC employed 45 (2022 - 47) lay staff, none of whom received remuneration amounting to more than £60,000 in either year. 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 2023 was 36 (2022 - 37).

Between January and December, 5 (2022 - 5) clergy were paid stipends by the Diocese of London. Clergy salaries and partial common fund payments of £217,195 (2022 - £261,943) were provided to cover these costs.

The above pension costs represent the contributions payable for the year; they include an amount of £6,697 (2022 - £6,435) arising from December 2023 salaries but paid in January 2024.

There were 11 (2022 - 11) individuals identified as key management who received remuneration during the year, including 5 (2022 - 5) ordained clergy. The total remuneration (including pension and employer's NI) was £554,217 (2022 - £538,746).

Page 29

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

18. Tangible fixed assets

Freehold land and buildings comprise:

Leasehold buildings comprise:

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

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Freehold
property
£
44,000
-
44,000
-
-
-
44,000
44,000		 Leasehold
property
£
1,770,564
-
1,770,564
50,769
12,152
62,921
1,707,643
1,719,795		 Motor
vehicles
£
8,522
-
8,522
8,522
-
8,522
-
-		 Fixtures and
fittings
£
764,914
12,982
777,896
613,329
42,478
655,807
122,089
151,585		 Total
£
2,588,000
12,982
2,600,982
672,620
54,630
727,250
1,873,732
1,915,380

Page 30

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

19. Fixed asset investments

Fixed asset investments
Cost or valuation
At 1 January 2023
Additions
Disposals
Revaluations
At 31 December 2023		 2023 2022 2023 Listed
investments
£
199,875
5,632
(160,306)
4,148
49,349
2022
Units Historic
cost		 Historic
cost		 Market
value		 Market
value
No.
London Diocesan Fund		 £ £ £ £
Rev T B Wood
Central Board of Finance
Investment Fund
70
Miss E L Bridges Trust		 36 36 1,582 1,446
Central Board of Finance
Deposit Fund
-		 1,117 1,117 1,117 1,117
Central Board of Finance
Investment Fund
2063.66		 42,352 42,352 46,650 42,638
Hargreaves Lansdown 43,505 43,505 49,349 45,201
Aegon Ethical Equity Fund
-		 - 12,093 - 11,894
Capital Gearing Trust plc
-		 - 15,932 - 18,237
Legal & General International
Index Trust
-		 - 24,863 - 31,833
Lindsell Train Global Equity
Fund
-		 - 20,638 - 21,175
Fidelity Index World
-		 - 40,421 - 38,292
Scottish Mortgage Investment
Trust
-		 - 15,030 - 9,362
Investments with market values
<£10,000		 - 30,385 - 23,881
- 159,362 - 154,674
Total fixed asset investments
43,505
202,867
49,349
199,875

Page 31

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

20. Stocks

2023 2022
£ £
Audio and resource centre stocks - 1,727

21. Debtors

Due within one year
Trade debtors
Amounts owed by related parish entities
Prepayments and accrued income
Gift Aid tax recoverable
Other debtors		 2023
£
24,966
573,582
25,608
25,579
264,677
914,412		 2022
£
8,274
356,852
15,286
66,361
126,302
573,075

Other debtors includes cash on account held by Hargreaves Lansdown totalling £224,946 (2022 - £54,401).

22. Creditors: amounts falling due within one year

Accruals for grants payable
Trade creditors
Amounts owed to related parish entities
Accruals and deferred income
Other creditors		 2023
£
44,500
63,183
19,140
16,800
312,877
456,500		 2022
£
18,531
49,487
23,470
15,840
121,580
228,908

Page 32

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

23. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to related parish entities 370,063 389,203

Of the above amount £293,503 (2022 - £312,643) falls due after more than 5 years of the balance sheet date.

Included within amounts owed to related parish entities, in aggregate, are loans from St Paul's Trust, a related party, totalling £389,203 (2022 - £408,343) which are secured by a fixed legal charge over one of the church's leasehold properties and its investment property.

24. Financial instruments

2023 2022
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 1,070,659 2,028,472

Financial assets measured at fair value through income and expenditure comprise fixed asset investments, short-term deposits, and cash at bank and in hand.

25. Provisions for liabilities

At 1 January 2023
Decrease		 Provision
for repairs
£
108,346
(108,346)
-

The above provision relates to the correction of flue positioning at 139 Cleveland Street. Works were complete by December 2023.

Page 33

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

26. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 31
January Transfers Gains/ December
2023 Income Expenditure in/(out) (Losses) 2023
£ £ £ £ £ £
Unrestricted
funds
Designated
funds
Organ Fund 119,282 - (3,477) (115,805) - -
General funds
General Fund 2,923,361 2,216,711 (2,690,183) 120,455 14,931 2,585,275
Total
unrestricted
funds 3,042,643 2,216,711 (2,693,660) 4,650 14,931 2,585,275
The Organ Fund is a designated fund which serves to provide for major repairs on the organ. The PCC
took the decision to undesignate the monies in this fund towards the end of 2023.
Balance at
Balance at 1 31
January Transfers Gains/ December
2023 Income Expenditure in/(out) (Losses) 2023
£ £ £ £ £ £
Endowment
funds
Rev T B Wood
Central Board of
Finance
Investment Fund 1,446 - - - 136 1,582
Miss E L Bridges
Trust
Central Board of
Finance Deposit
Fund 1,117 - - - - 1,117
Miss E L Bridges
Trust
Central Board of
Finance
Investment Fund 42,638 - - - 4,012 46,650
45,201 - - - 4,148 49,349

The Organ Fund is a designated fund which serves to provide for major repairs on the organ. The PCC took the decision to undesignate the monies in this fund towards the end of 2023.

Page 34

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

26. Statement of funds (continued)

Restricted
funds
World Mission
Fund
Building Fund
Clubhouse
Refurbishment
Fund
Cleveland St
Church
Wetfoot
Rector's
Discretionary
Fund
Student Bursary
Fund
St Peter's		 Balance at 1
January
2023
£
345,036
207,033
11,150
55,800
12,707
64,047
8,468
112
704,353		 Income
£
521,848
590,744
-
6,478
-
1,389
-
-
1,120,459		 Expenditure
£
(559,649)
(817,777)
-
(32,562)
-
(12,558)
-
-
(1,422,546)		 Transfers
in/(out)
£
-
20,000
-
(24,650)
-
-
-
-
(4,650)		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-		 Balance at
31
December
2023
£
307,235
-
11,150
5,066
12,707
52,878
8,468
112
397,616

The World Mission Fund is for the support of All Souls missionaries and grants made to third party missionary organisations.

The Building Fund is a restricted fund resulting from monies raised at past Thanksgiving and Gift Days for specific projects, plus ongoing contributions to maintaining the fabric of the buildings.

Clubhouse Refurbishment Fund is a fund for any refurbishment of the Clubhouse building.

Cleveland St Church - A church family meeting at the All Souls Clubhouse under the leadership of Jonathan Gillespie.

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

Rector's Discretionary Fund is a fund for the Rector’s special projects, causes or needs. This includes 'The Good Samaritan' initiative which had a balance of £52,770 as at 31 December 2023 (2022 - £53,207).

Student Bursary Fund is a fund to provide bursaries for students attending All Souls student events.

St Peter's is a fund to be spent on improvements to St Peter’s Church, Vere Street.

Total of funds 3,792,197 3,337,170 (4,116,206) - 19,079 3,032,240

Page 35

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

26. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Organ Fund
General funds
General Fund
Total
Unrestricted
funds
Endowment
funds
Rev T B Wood
Central Board of
Finance
Investment Fund
Miss E L Bridges
Trust
Central Board of
Finance Deposit
Fund
Miss E L Bridges
Trust
Central Board of
Finance
Investment Fund		 Balance at
1 January
2022
£
113,446
3,254,786
3,368,232
Balance at
1 January
2022
£
1,639
1,117
48,327
51,083		 Income
£
-
2,362,452
2,362,452
Income
£
-
-
-
-		 Expenditure
£
(1,164)
(2,619,183)
(2,620,347)
Expenditure
£
-
-
-
-		 Transfers
in/(out)
£
7,000
(21,953)
(14,953)
Transfers
in/(out)
£
-
-
-
-		 Gains/
(Losses)
£
-
(52,741)
(52,741)
Gains/
(Losses)
£
(193)
-
(5,689)
(5,882)		 Balance at
31
December
2022
£
119,282
2,923,361
3,042,643
Balance at
31
December
2022
£
1,446
1,117
42,638
45,201

Page 36

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

26. Statement of funds (continued)

Restricted
funds
World Mission
Fund
Building Fund
Clubhouse
Refurbishment
Fund
Cleveland St
Church
Wetfoot
Rector's
Discretionary
Fund
Student Bursary
Fund
St Peter's
Total of funds		 Balance at
1 January
2022
£
437,891
1,120,625
11,150
61,184
12,322
63,227
8,468
30,145
1,745,012
5,164,327		 Income
£
416,250
880,201
-
10,988
451
9,423
-
-
1,317,313
3,679,765		 Expenditure
£
(509,105)
(1,823,793)
-
(1,325)
(66)
(8,604)
-
(30,032)
(2,372,925)
(4,993,272)		 Transfers
in/(out)
£
-
30,000
-
(15,047)
-
-
-
-
14,953
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
(58,623)		 Balance at
31
December
2022
£
345,036
207,033
11,150
55,800
12,707
64,046
8,468
113
704,353
3,792,197

Page 37

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

27. Summary of funds

Summary of funds - current year

Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at 1
January
2023
£
119,282
2,923,361
45,201
704,353
3,792,197		 Income
£
-
2,216,711
-
1,120,459
3,337,170
Income
£
-
2,362,452
-
1,317,313
3,679,765		 Expenditure
£
(3,477)
(2,690,183)
-
(1,422,546)
(4,116,206)
Expenditure
£
(1,164)
(2,619,183)
-
(2,372,925)
(4,993,272)		 Transfers
in/(out)
£
(115,805)
120,455
-
(4,650)
-
Transfers
in/out
£
7,000
(21,953)
-
14,953
-		 Gains/
(Losses)
£
-
14,931
4,148
-
19,079
Gains/
(Losses)
£
-
(52,741)
(5,882)
-
(58,623)		 Balance at
31
December
2023
£
-
2,585,275
49,349
397,616
3,032,240
Balance at
31
December
2022
£
119,282
2,923,361
45,201
704,353
Summary of funds - prior year
Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at
1 January
2022
£
113,446
3,254,786
51,083
1,745,012
5,164,327
3,792,197

Page 38

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

28. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
1,873,732
Fixed asset investments
-
Current assets
1,354,319
Creditors due within one year
(272,713)
Creditors due in more than one year
(370,063)
Total
2,585,275		 Restricted
funds
2023
£
-
-
581,403
(183,787)
-
397,616		 Endowment
funds
2023
£
-
49,349
-
-
-
49,349		 Total
funds
2023
£
1,873,732
49,349
1,935,722
(456,500)
(370,063)
3,032,240

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
Total		 Unrestricted
funds
2022
£
1,915,380
154,674
1,615,615
(145,477)
(389,203)
(108,346)
3,042,643		 Restricted
funds
2022
£
-
-
787,784
(83,431)
-
-
704,353		 Endowment
funds
2022
£
-
45,201
-
-
-
-
45,201		 Total
funds
2022
£
1,915,380
199,875
2,403,399
(228,908)
(389,203)
(108,346)
3,792,197

Page 39

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

29. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/(expenditure) for the year (as per the statement of financial
activities)
Adjustments for:
Depreciation charges
Losses/(Gains) on investments
Dividends, interests and rents from investments
Hargreaves Lansdown fees
Decrease in stocks
Decrease/(increase) in debtors (excluding Hargreaves Lansdown monies)
Increase in creditors
(Decrease)/Increase in provision for liabilities
Net cash used in operating activities		 2023
£
(759,957)
54,630
(19,079)
(28,382)
566
1,727
(170,793)
208,452
(108,346)
(821,182)		 2022
£
(1,372,130)
57,349
58,623
(12,381)
555
7,329
(291,070)
99,715
73,478
(1,378,532)

30. Analysis of cash and cash equivalents

Cash in hand
Short-term deposits
Total cash and cash equivalents		 2023
£
699,943
321,367
1,021,310		 2022
£
1,032,707
795,890
1,828,597

31. Analysis of changes in net cash/(debt)

Cash at bank and in hand
Short-term deposits		 At 1
January
2023
£
1,032,707
795,890
1,828,597		 Cash flows
£
(332,764)
(474,523)
(807,287)		 At 31
December
2023
£
699,943
321,367
1,021,310

Page 40

DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

32. Operating lease commitments

At 31 December 2023 the church had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2023
£
6,985
-
6,985		 2022
£
31,757
6,832
38,589

Lease payments recognised as an expense in the statement of financial activities total £32,359 (2022 - £39,129).

33. Related party transactions and balances

Total donations, across all funds, received from PCC members amounted to £180,631 (2022 - £272,643).

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.

11 PCC members received a total of £8,709 for expenses incurred on behalf of the PCC (2022 - 12 PCC members were reimbursed £12,534). One PCC member, Mr Michael Sharp, is married to a serving minister at All Souls, Langham Place. During the year ended 31 December 2023, by virtue of his relationship, Mr Michael Sharp benefited from an annual housing allowance of £11,288 (2022 - £4,801). A grant of £3,600 (2022 - £1,200) was awarded to Nathaniel Yisa, a member of the PCC.

In the year, during her tenure as a PCC member, Kirsten Russell received £2,430 (2022 - £7,450) from the World Mission Fund in her capacity as an All Souls Mission Partner, and £12,300 (2022 - £15,000) towards projects she is involved in with Middle East Development Service (MEDS), Africa Inland Mission (AIM), and SIM International, during her tenure.

Richard East, a PCC member, received £17,550 (2022 - £16,400) from the World Mission Fund in his capacity as an All Souls Mission Partner, and £nil (2022 - £4,000) for a project he is involved in with OMF in Japan.

In the year, during her tenure as a PCC member, Litsa Mclymont received £8,775 (2022 - £16,400) from the World Mission Fund in her capacity as an All Souls Mission Partner.

James Thomas, the 18-year-old son of PCC member Jeremy Thomas, received the sum of £750 from the World Mission Fund for his season with Altitude Mission, a Christian mental health charity working in Meribel, France.

Choices Islington received £5,000 in December 2023. Celia Wyatt is a trustee.

Jonathan Gillespie received accommodation as a result of his wife Kah Foon's job as a minister at All Souls.

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DocuSign Envelope ID: 6ABCBCDA-6A9C-441B-91A3-2C4B62852093

THE PAROCHIAL CHURCH COUNCIL OF ALL SOULS CHURCH, LANGHAM PLACE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

33. Related party transactions and balances (continued)

At 31 December 2023, £183,463 (2022 - £211,720) was due from All Souls Serve The City CIO (ASSTC). This is a related party as All Souls Church has the power to appoint or remove a significant number of the trustees of ASSTC.

Transactions with ASSTC were as follows:

All Souls Church has provided administrative and technical support to ASSTC during 2023 and expects to do so for the foreseeable future.

Langham Arts Trust and St Paul's Trust are also related charities to All Souls Church, Langham Place. All Souls Church has the right to appoint trustees to both charities and provides to them some administrative and technical services..

As at 31 December 2023:

In 2023, Langham Arts Trust was paid grants totalling £186,000 (2022 - £193,226).

In 2023, grants totalling £5,000 (2022 - £12,500) were made to Lapis Lazuli Schools. Michael Hall, a member of the PCC, is also a trustee of this charity.

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