The Parochial Church Council
of The Ecclesiastical Parish of
St. Mary with St. Peter & St. Jude, West Brompton
rooted in faith open in thought reaching out in service
i+/.Ih7,4
Trustee Annual Report and Accounts
st
for the year ended 31 December 2023
Registered Charity no l 133073

Parish of St. Mary with St. Peter & St. Jude, West Brompton
Structure and Governance
St Mary's Church. the parish church of the Parish of St Mary with St Peter and St Jude, West
Brompton, is situated in The Boltons in London SWIO. It is part of the Diocese of London within
the Church of England. The Parochial Church Council ("PCC") of the church is a body corporate
established by the PCC (Powers) Measure 1956. It is registered as 2 charity with the Charity
Commission. The method of appointment of members of the PCC is set out in the Church
Representation Rules. All those who attend our services regularly are encour2ged to register on
the Church Electoral Roll to become eligible both to elect PCC member5 and to stand for election
to the PCC.
ADMINISTRATIVE INFORMATION
Address and contact details
The Parish Office
St Mary's Church
The Boltons
London SWI 0 9TB
Telephone 020 7835 1440
Email office@stmarytheboltons.org.uk
Vicar
Reverend Prebendary Jennifer Welsh
Parish Officer5 and Elected Representatives
Churchwardens
Mrs C2ndice Lee
Mr Leo Fraser-MackerTrzie
st
Members of the Parochial Church Council who have served since l January 2023 until
the date of thi5 report were:
Revd Preb Jennifer Welsh (chair)
Mrs Adrea Blakeney
Mr Alex Burtt
Elected April 2023
Mr Christopher Fowke5
Mr Leo Fraser-mackenzie
Miss Margarete Geier
Miss Joanna Hackett (PCC Secretary)
Mr Clive Ingram
Mrs Candice Lee
Mrs Rosemary Meckiff Mengel
Mrs Ann Mulcare
Mr Lee Speakman
Mrs Mimi Waterbury
Churchwarden
Deanery Synod Representative
Deanery Synod Representative
Churchwarden
Until April 2023
Elected April 2023
Until April 2023

PCC Treasurer and A55iStant Treasurer to
Redcliffe Gardens Trust
Miss Carolyn Stubb5
Treasurer to Redcliffe Gardens Trust
Mr Leo Fraser-mackenzie
Independent Financial Examiner and reporting Mr Franklin Atille FCCA
accountant to Redcliffe Gardens Trust
FMA Accountants Ltd
Inspecting Architert
Mr Russell Hanslip of HMDW Architects Ltd
STATEMENTOF PURPOSE
St Mary's is a church working within the ethics and ethos of the Church of England and the aim of
the PCC. in cooperation with the incumbenL is to promote the whole mission of the church
pastoral, ev2ngelistic and social 2nd ecumenical. The PCC is also responsible for the upkeep of the
church of St Mary The Boltons. a grade 2 listed building.
The prioritie5 of our common endeavour as the Body of Christ at St Mary's are reflected in our
Parish str2pline Rooted in F2ith. Open in thought and Reaching Out in service.
Rooted: Our life. our ministry. and our worship together are grounded in our belief in a
God who 15 loving. abundantly generous, and merciful. We are a150 rooted in our church
building. where our common life is lived out in worship and prayer, activity and service;
where local people can find peace to reflect and pray. where children are baptised, couples
married and the mourning can bury their loved ones. and where all are welcomed into our
fellowship.
St Mary's is rooted in our parish, the local are3 which we serve. Local schools visit for
concerts, assemblies, and to discover the church'5 history, art and architecture. Local
institutions are welcome to hold events. Christmas concerts and meetings. Loc21 people
enjoy our garden as a place of quiet 3nd beauty.
Open: St Mary's is an open church- We try to be open to the movement of God'5 Spirit in
our world. We are an inclusive church, welcoming everyone. regardless of background,
gender. ethnicity, or sexuality, so that all may encounter the love of the God revealed in
Jesus Christ. The doors are open every day for anyone to come in to pray, reflect, re5L
seek solace, find hope.
Reaching Out: Christ commands us to love God with our whole being, and our
neighbour as ourselves. Worship of the God who loves us leads us to love his world. St
Mary's is committed to giving to local and international charities, through our Charitable
Pot; to supporting local food- visiting local nursing homes. supporting and attending to
vulnerable people who come to the church for help.
The Activities and Achievements described in the following section describe in more detail how
these prioritie5 worked out in practice in 2023. In planning and undertaking these activities the
trustees confirm they have had regard to the Chariry Commission guidance on public benefit.

ACTIVITIES AND ACHIEVEMENTS
Membership on the parochi21 Electoral Roll increased from 129 to 141 between 2023 and April
2024.
Worship and Proyer in 2023
Sunday Services continued as in previou5 years with our principal Sunday morning services
regularly enhanced by music led by Choral Scholars andlor our Come and Sing voluntary choir.
After much deliberation by the PCC, we were pleased to restore the practice of the 'common
cup, at the Euch2fisL a decision welcomed by the congregation.
Numbers attending Sunday worship remained at about the same level as in 2022.
Occasional offices included: 18 baptisms. and one thanksgiving for the birth of a child,. three
weddings, and one blessing of a civil marriage: 5 funer31s. 2 memorials and 3 interments of ashes.
6 candidates (including 2 adults) were confirmed by the Bishop of Kensington. who also received
one adult into the Church of England.
The Coronation of HRH King Charles was celebrdted in church with a service of prayers on the
evening before the Coronation service. and a Choral Eucharist the day after, followed by a hugely
popular community bring and share picnic in the church gardens.
Major festivals like Easter and Christmas followed the same pattern as in 2022. Holy Week
included a series of meditations on Zoom: a renewed Way of the Cr055 service for children and
families on Good Friday. and the Vigil for Holy Saturday in the late afternoon. E2Ster Day services
were well attended, and were followed by refreshments in the church garden in the warm spring
sunshine.
Christmas Carol services included two raising money for outside charities, and a very successful
Nine Lessons and Carols where the collection was taken for our own Chariry Pot.
Morning and Evening Prayer were said daily on weekdays in church by the Vicar and12y Staff,
occasionally joined by visitors.
The church was open daily from 8am - 6pm. The church gardens were open daily throughout the
year.
Nurture
The Little Lambs Sunday School for preschool and primary aged children w2s expanded to twice-
monthly in term time, with growing numbers of children (and parents accompanying pre-
schoolers) involved. Two leaders run each session. having been 3ppropria*ly trained and DBS
cleared. These session5 introduce the children to popular Bible stories. songs and prayers to the
children. with age appropriate activitie5. Parents are encouraged to join in and take seriously their
role in teaching their children the Christian f2ith.
The midweek 'Sunday School on Wednesday. provided preparation of three primary aged children
for Confirmation: another teenager was prepared separately. Three adults also took part in a
series of weekday sessions in church. Two were confirmed. 2nd the third received into the
Church of Englxnd. Sadly. after the summer holidays it proved impossible to continue providing
Sunday School on Wednesday. as children moved up to Secondary school. It was put on hold for
the time being.

Lent and Advent discussion groups ran as usual. In Lent we met for discussion on Wednesday
mornings at a member's home. using the Bishop of Kensington's book Failure. For Advent, on
Sundays after the main service, we eng3ged in a discussion based on the Church of England's Living
in Love ond Foith Report, with a view to making prayers and blessings for same sex couples available
in church. Night Prayers were said on Zoom during the weeks of both Lent and AdvenL
Engogement ond mission
Monthly visits to the local nursing home continued. involving a small team of lay people 2nd the
Vicar. We also share visits to a second nursing home ne2rby with a neighbouring church.
Christmas Carol services were provided in each place.
The Second Half Club continued through the year with the familiar pattern of exercise sessions
and refreshments offered each Friday. The club is supported by a member of the congregation
who welcomes and serves those who attend. These sessions provide a warm and welcoming space
to enhance greater physical and mental wellbeing in older people.
A new Parent and Baby group was launched at the end of 2023 by one of our members, meeting
once a month. Participants are invited via local parents. networks as well as through our own
publicity. In these early stages. the sessions are place5 where parents meet over coffee, while the
babies play or sleep. It is hoped to include toddlers in the group. and provide 2n opportunity for
learning more about the Christian faith as well.
The church space continued being used by Iordl private schools for concerts, presentations, and
the occasional religious assembly. Sadly the one state primary school in the p2rish decided in
September that because of the numbers of children being withdrawn from assemblies in church, it
is no longer practical for the school to come to church for whole school a55emblies. Year groups
continue to access the church as a p12ce where RE 2nd Art curricula may be enhanced.
During Advent we hosted two Chariry Carol Services generating funds for their causes. For the
third time. we shared an outdoor Community Christmas C2rols event with the next door parish
of St Luke's. Redcliffe Square bringing together more th2n 400 local people to sing carols and
enjoy hospitality sponsored by a local business.
Collections of foodstuffs for the Ioc21 food banks and homeless charity continued throughout the
year, with volunteers transporting donations to the relevant sites. Donations were sustained both
by members of the congregation and neighbours. and have been more necessary as the cost of
living crisis becomes more and more severe. A subst2nti21 H2rvest collection of foodstuffs from
both the church and school were also given to the local foodbanks. A special campaign called
Twelve Days of Christmas invited donations of food to Support households during the Christmas
holidays when foodb2nks were not open.
The church gardens continue to be 2 place of respite and refreshment for local people to enjoy
and can be hired for use by private parties and community groups. Some new benches were
placed in the garden by local families in memory of loved one5. and these are used daily by local
visitors.
The annual Church Fair was held in September using the whole church building complex and
grounds. The funds raised were for the charities Supported through the church's Charitable Pot.

We launched a newly designed website. which can be updated easily from our parish office, and
we are now using social media, including A Church Near You for greater visibility online.
Hospitality ond Welcome
St Mary's offers welcome to 311 who come to church. regardless of age, ethnicity. religious
background, gender or sexualiry. We strive to be fully accessible using large print material, a
hearing loop, and ramped entrance as well as accessible toilet facilities. We continued to publish
monthly newsletter and provide electronic and h2rd copies via email and postal services. The
major works planned for the west end include upgrading the access for wheelch2ir users.
The church has remained open for individual prayer and meditation daily. The Vicar works from 2n
office in church and is available to visitors or those seeking prayer or counsel. The Office is open
daily from 9am - 5pm.
Fabric
In 2023 we progressed plans for a programme of work on the church building,to a
ieve thè 8b31
of net zero carbon by 2030. while providing extra sp2ce at the back of the church a
d upgraded
wheelchair access at the entrance. This will be a long term projec( requiring in the coming year
not only PCC agreemenL but permissions from the Diocese of London and the local planning
authority. Funding will be provided from 3 substantial grant from the Bacon Foundation which is
designated for this purpose, and from the Redcliffe Gardens TrusL
Extern211y at the west end of church further work was required to prevent water ingress into the
gallery stairwell. Investigations into why earlier repairs had not worked to stop this damp revealed
that the stonework above the stairwell roof also needed attention. Some stones had to be entirely
replaced. while in wider area it was only nece55ary to remove cement mortar and repoint with
lime mortar.
The Charity Committee
The Charity Committee is a Sub-committee of the PCC and meets at least four times a year and
works on selecting charities which are supported from our Charitable Pot. communicating with
those charities 2nd assisting with activities to raise funds for the Charitable POL In 2023 we raised
funds for USPG'5 Partner in Mission. Malawi. and for several local charitie5- Learn To Love To
Read. Lyra In Africa Beacon House - Evolve, Paul's Cancer Support. The Committee recognises
the hard work and generosity of many volunteers and donors, including parishioners and Ioc21
community residents. who have regularly contributed to the 5ucce5sful support of local and
international charities.
Safeguarding
All volunteers working among children and vulnerable adults have had DBS checks and been
2ppropriately trained according to our S2fegu3rding policy. The Trustee5 affirm that Safeguarding is
the responsibility of all members of the church. and are committed to S2feguarding and promoting
the welfare of all those who are vulnerable (children, young people and vulnerable adults). The
PCC Safeguarding Policy was agreed by the Trustees in June 2023, in accordance with that of the
Church of England. The PCC has therefore complied with the duty under section 5 of the
Safeguarding and Clergy Discipline Measure 2016 (dury to have regard to House of Bishops,
guidance on safe8uarding children and vulnerable adults).

LONGER TERM GOALS
The h211 and kitchen will also be refurbished, and a move from gas to electric heating 2nd cooking
is planned. A substantial refurbishment and repair of the church organ is to be undertaken, with
funds specifically raised for this purpose. St Mary's will hold a new general Stewardship Campaign,
incorporated into a broader campaign for a renewal of our church's work and ministry to grow
the congreg2tion both numerically and spiritually.
Signed on behalf of the PCC by The Reverend Prebendary Jenny Welsh
.2024

Financial Review and Reserves Policy
The PCC'S consolidated accounts include the assets of St Mary's Redcliffe Gardens Trust IRGT),
St Peter's Cranley Garden5 Trust and The Louisa Wilson Legacy. The PCC 15 the Managing
Trustee of RGT. St Peter's Cranley Gardens Trust and the Louisa Wilson Legacy. The PCC
receive5 income from St Peter's Trust {£1.192: 2022: £1,020) and the capital of £41,495 {2022:
£38.381 } is included with that of RGT as endowment funds in the consolidated accounts of the
PCC. The income from the Louisa Wilson Legacy (£2.040,. 2022- £2.029) does not benefit the
PCC directly 2S It is paid to the Diocesan Stipends Fund. However 2S trustee we 2re obliged to
include the capit21 (£74,643 2022: £68.224} in our consolidated accounts as part of our
endowment funds.
The total con501idated assets of St Mary's PCC have increased by £43.203 to £870.801. The
General Fund decreased by £16.266 while Restricted Funds increased by £23,600 and Endowment
Fund5 by £35,869 (the latter through investment income received and an increase of £18,955 in
the value of the investments).
The decrease in the General Fund 15 made up of some significant changes in incoming resources
and expenditure, as 2nalysed below.
Incoming resources
Regular giving for the year fell to £68,442 (2022- £78.175}. and this was considerably lower than
the budget of £ 100,000. There was no autumn Stew2rdship Campaign in 2023 and the results of
the camp2ign in 2022 were disappointing. Tax recoverable on gift aided donations was higher than
the previous year at £18,455 (2022.. £17.108), but this is because the tax reclaim is based on the
tax year to 5 April and thus reflects donations in the previous year. We 21so recovered tax on
contributions to the Fabric Fund (£2,700. 2022: £2.500) plus £1.250 for the Organ Fund.
Collections at services were slightly higher than the previous year at £ l 0.017 (2022- £8.109),
following reintroduction of the plate 2t services in12te 2022, while additional donations through
Goodbox devices were similar (£6,807, 2022: £7.401). We also accept donations through CAF
Donate online but usage has been SPOfddic with income of £3.867 (2022.. £1.555) included with
donatior15 in several categories. Receipts include a few large donations 2nd sever21 sm211 ones,
including for the Charitie5 Pot.
Sundry income was lower in 2023 at £8.326 (2022- £12.072)- Income in 2022 was boosted by the
$21e of a Ken Howard painting which St Mary's h2d owned for several years and had reproduced as
Christmas card5. We received £3,500 for the painting and this was included in our general funds.
We were very fortunate to receive donations of £36.000 from The B2con Foundation during
2022, in addition to the £50,000 received in late 2021. These donations are shown as a restricted
fund as the terms of the grant required u5 to account separately for it5 Use. Donations from this
Foundation must be used on church projects within two years of receipt. To date we have used
the fund to pay for the insulation of the loft (net cost in 2022: £3,244). The remainder of the fund
will be put toward5 the plans for the insulation of the west end of the church and for improved
access.
Donations of £20,500 to the Fabric Fund. plus the tax reclaim of £2.700. took the Fabric Fund to
£32,656. During 2023 we also received a donation of £5.205 which was put toward5 the

architects, fee5 for the redesign and insulation of the church's west end. In 2022 we replaced the
church boilers 2t a net COSt of £62,255 including professional fees. The remaining funds in the
Fabric Fund will be put tOW2rds a new kitchen.
Dor)ations of £250 and tax reclaim of £1,250 increased the Organ Fund to £11,500 {2022-
£io,ooo).
Income from Church H211 rentals ha5 returned to pre-pandemic levels. During term-time our H211
is used by Paint Pots Montessori Schools as a nursery school. The term5 and condition5 of our
Licence with Paint Pots were updated in 2022. The Licence Fee was increased 2nd the Service
Charge was also revised to tske account of increased costs. Rental income in 2023 was £73,690
12022.. £63,441). Evening hire of the Hall by Twelve Steps and other groups increased to £9,305
12022.. £8,245). Other hire of the Hall. for example for children'5 parties. rose to £16,463 (2022:
£13,950). £5,000 of this (2022: £4,125) came from a car parking agreement which was also
renewed in 2022.
We held Autumn F2irs in 2023 and 2022. although profits from the fair do not benefit St Mary's
and are paid out to our chosen charities. The 2023 Fair was very successful and raised £11,273 net
of expenses (2021- £10,159) for our charities. Other funds we raised for charities came from
specific appeals and at services and so are included a5 donations rather than fundraising activities.
We recovered £7,885 of VAT on repair work to the church buildings from the Listed P12ces of
Worship Grant Scheme {2022: £22,190). We also recovered £2,400 (2022: £2,400) from the
Diocese towards the time our Parish Manager spends on work for the vicar in her role as Area
Dean. Other recoveries of expenses included for music 2nd heating at weddings, funerals 2nd
other services at St Mary's and for floodlighting of the church. In 2022 we received an energy
rebate of £2,641 for the winter months of 2022123.
Resources used
Our costs were considerably lower in 2023 at £323,098 (2022.. £414.423). The main reason for
the high costs in 2022 was the replacement of the boilers (cost including consultancy fees but
before VAT reclaim: £74,706) although there were also higher than usual restricted items (such as
charitable donations. recovered music costs and statutory fees paid to the Diocese) due to the
unusually high number of weddings in 2022.
In 2023 our biggest expense was the contribution of £93,000 to the Diocese of London Common
Fund (2022: £90,000).
In 2023 we incurred substantial repairs and maintenance cost5, although they were lower than in
2022. We undertook stonework repair at the west end 2t a cost of £15.309 including fee5 and
VAT and we repaired a gas main at a cost of £9.167.
In 2022 we replaced the church boilers at a cost of £74.706 including fees (£62,255 net of VAT).
We 2lso repaired the church spire balustrade and lightning conductor at a cost of £36,155
including architects. fees (£30,129 net of VAT)- Refurbishment of the Church Hall in 2022 cost
£16,073 and insulation of the loft above the Hall cost £3,893 (both including VAT).

Salaries of our Parish Man2ger 2nd verger were higher in 2023 due to cost of living pay increases.
S21ary costs were £55.849 (2022: £51.357)- Payments to our Director of Music, musicians and
cleaner were also incre2sed.
Energy costs increased considerably during both years. We negotiated a three year fixed rate in
November 2022 but our gas costs have been much higher than in previous years. We have passed
on some of the costs by increasing the heating charge for use of the church for weddings, funerals
and ocher speci21 services.
Balance sheet
The PCC'S assets consist principally of cash held with the CBF Deposit Fund or in the Gener21
Account at Barclays Bank.
Barclays closed our account for Redcliffe Gardens Trust in October 2023 as they were unsat15fied
with our responses to their questions about the constitution of the trust and its management. At
31 December 2023 we held a cheque to the full value of the account. £81.364. For this reason and
because the account was reinstated by Barclays in February 2024 this amount has been shown as a
current asset on the balance sheet. Debtors of £26.502 (2022- £36,437) include insurance for the
church which 15 paid in December for the following year. together with some outstanding rents
and 2mounts reclaimed relating to 2023 (such as the VAT reclaim of £7,885 and match-funding for
the Autumn Fair)- We have a150 accrued £5,865 for interest due on bank deposit accounts for the
last quarter of 2023 but not paid until early January 2024.
Li2bilities are lower than in the previous year (£48,675. 2022.. £56,623). Deferred income of
£26,488 (2022: £23,399) consists of December payments by Paint Pots and mast income for the
first quarter of the following year. Post year end p2yments in January 2023 included amounts
owing for repair of the spire, insulation of the loft and professional fees regarding the boiler
installation.
Reserves Policy and Restricted and Endowment Funds
It is PCC policy to maintain a balance on unrestricted funds (if possible) which equates to
approximately six months, unrestricted payments. to cover emergency situation5 that may arise
from time to time. The PCC also considers it important to hold funds in reserves for future
restoration cost5 and recognises that steps will have to be taken to improve the strength of the
balance sheet if these targets are to be maintained.
We received £36,000 from The Bacon Foundation in 2022 {2021: £50.000), to be used on church
projects within two years. During 2022 we spent £3,244 (net) on loft insulation.
The Associate Vicar's Stipend Fund was set up in 2008. and donations were received for this
purpose in each year since it was esLiblished. Following discussions with the donor, from 2017
donations have been made to the Fabric Fund. In 2023 and 2022 we used the fund to pay for a
youth programme {£1.100. 2022.. £750)- The Associ2te Vicar's Stipend Fund stands at £29,900
(2022: £31.000).
There were donations to the Fabric Fund of £20.500 in 2022 (2022- £11,050) plus a Gift Aid
reclaim of £2,700. The year end balance on the fund was £32,656 (2022: £9.456)- This fund is
expected to be used to renew the kitchen.
io

We also received a grant of £5,205 which was restricted and this was put towards architects, fees
for the renewal of the west end. including improved access to the church 2nd insulation of the
doors and office rooms.
Redcliffe Gardens Trust
Redcliffe G2rdens Trust is 3 separate trust of which the PCC is the Managing Trustee. The trust
made no distribution in 2023 and the value of the assets increased to £508.91312022- £482,577)-
These assets are held mainly as cash with a Small percentage held in the CBF Church of Eng12nd
Investment Fund. Some of the funds are held 2s permanent endowment but a proportion is
available for distribution in accordance with the terms of the trust deed and the PCC has been
able to call on this trust to assist with major capital expenditure in the church from time to time.
The St Peter's Cranley Gardens Trust
The income from this trust is received by the PCC and contributes to the expenses of the organ
and choir (£1.192- 2022.. £1.020)- The trust has capital that is a permanent endowment, but it is
considered 2 "small" charity by the Ch2rity Commission so the PCC may be able to remove the
permanent restrictions on the capital and spend the capital as rf it were income, should they
believe that the purposes of the charity could be more effectively carried out as a result. The value
of the assets at the year-end was £41.495 (2022- £38,381). The assets are held partly as cash with
the majority held in the CBF Church of England Investment Fund.
The Louisa Wilson Legacy
The income from the Louisa Wilson Legacy (£2,040,. 2022- £2,029) is paid directly to the Diocesan
Stipends Fund and thus is not shown in these accounts. The value of the assets at the ye2r-end was
£74,643 (2022.. £68,224). The assets were held in the CBF Church of England Investment Fund.
Corolyn Stubbs.
Treosurer

Independent E4¥mlneVs Report to the memberltrustee5 ofst M•ryThe Bohons. Parochlal Church
Councll
I report on the accounts for the yearended 31 December 2023. whlch are set out In the TfUStees
Annual Report and Accounts
Respectlve respon51bllltles of trustees and examlnei
The charlty trustees are responslble forthe p￿paratIOn of the accounts. The charitys trustees
consider that an audit15 not required for thls year (under section 144121 of the Charities Art 2011
{the 2011 Artl and that an Independent examlnalion Ss needed.
It is my responslblllty to:
examlne the accounts {under sertlon 145 ofthe 2011 Art);
lo follow the pro¢edures lald down In the General Directtonsgiven by the Charlty
CommIsslone￿ (under sectlon 145{Sllbl of ihe 2011 Act): and
to state whether particular matters have come to my attentlon.
Basls of Indep•ndent examln•rfs feport
My examlnatlon was carrled out In accordance wth the General Dlrectlons given by the Charlty
Commlsslon. An examlnatlon Includes a revlewof the accountln8 recnrds kept by the charlty and a
comparlson of the accounts presented wlth those records. It also Includes conSiderat￿)n of any
unusual Items ordlsclosure5 In the accounts, aNI 5eeklng explanatlons from the management
commlttee con¢ernlng any such matters. The procedures undertaken do provlde all the evldence
that would be requlred In èft audlL and consequently I do not exwess an audli oplnlon on thevlew
81ven by the accounts.
Independent examlnerfs statemènt
In connectlon wlth my examlnatlon. no matter has come to my aitentlon:
111 whlch glves me reasonabfe cause to believe ihat In any material respect the requirements
to keep accountlng records In accordance wlth section 130of the 2011 Att,. and
to prepare accounts whlch accord with the accountlng retords and comply wlth the
accountlng requirements of ihe 2011 Act: have not been met. or
121 to whlch, In my opSnlon. attention should be drawn In order to enable a proper
understanding of the accounts to be reached.
Independent Examlner- Franklln Atille FCCA
FMAAccounianis Ltd
Bulldln8 3 Chlswlck Buslne55 Park
566 Chlswlck High Road
Chlswlck
W4 5YA
27 March 2024
12

CONSOLIDATED ACCOUNTS OF
THE PAROCHIAL CHURCH COUNCIL OF ST MARY THE BOLTONS,
ST MARY'S REDCLIFFE GARDENS TRUST,
ST PETER'S CRANLEY GARDENS TRUST
AND THE LOUISA WILSON LEGACY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Note
Unrtstri¢t¢d
Funds
Xestri¢teil ErIdowme￿t .
Funds
fund5
Total funds
2023
2022
INCOME AND
ENDOWMENTS
Voluntary income
Acrivities for generating funds
Income from investments
Church activities
Other incoming resources
TOTAL INCOME
112,656
620
150.281
14.798
53.273
107.710
21.284
347.346
200.586
12.608
39.415
104.203
50.422
407.234
106,051
2e
9.112
62.574
18.11)6
EXPENDITURE
Church activities
269,808
1.757
32,056
2.905
301,864
399,064
Raising funds
Governance costs
Other resources expended
' TOTAL EXPENDITURE
3b
552
282.932
323,098
414,423
NET INCOME I
(EXPENDITURE) BEFORE
INVESTMENT GAINS
(16.266)
22,408
18,106
24,248
(7,1891 |
TRANSFER FROM
ENDOWMENT TO
RESTRICTED FUNDS
1,192
(1,192)
NET TRANSFERS
BETWEEN RESTRICTED
AND UNRESTRICTED
FUNDS
NET GAINSI(LOSSES) ON
INVESTMENTS
18.955
18.955
126.881 }
. NET MOVEMENT IN
FUNDS
116.266)
23.600
35.869
43.203
134.070)
BALANCES BIFWD AT
I JANUARY 2023 (2022)
105.204
133.212
589.182
827.598
861.668
BALANCES CIFWD AT
31 DECEMBER 2023 {2022)
£88.938 £156.812' . £625.051 £870.801
£827.598
13

PAROCHIAL CHURCH COUNCIL OF ST MARY THE BOLTONS,
ST MARY'S REDCLIFFE GARDENS TRUST,
ST PETER'S CRANLEY GARDENS TRUST
AND THE LOUISA WILSON LEGACY
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2023
Note
2023
2022
FIXED ASSETS
Tangible fixed assets - other
CURRENT ASSETS
Debtors
RGT CBF Investment account held by
custodian
St Peter's Cranley Gardens CBF Investment
account held by custodian
Louisa Wilson Legacy CBF Investment
account held by custodian
Cash at bank and in hand:
RGT - deposit fund held by custodian
St Peter s - dep051t fund held by custodian
RGT CBF Dep051t account
PCC'S CBF Deposit account
RGT general account
PCC'S general account
109,571
100,149
36,213
33,099
74,643 1
68,224
218,507
5,282
94.516
124.281
81.364
148.597
211,722
91,581
120,4211
79,125
919.476
884,221 .1
LIABILITIES: AMOUNTS FALLING
DUE WITHIN ONE YEAR
48.675
56.623
NET CURRENT ASSETS
870.801
827.598 |
NET ASSETS
£870.801
£827.598
FUNDS
Revaluation reserve - investments
Restricted
Unrestricted
Endowment
96,029
156.812
88.938
529.022
£870.801
133,212
105,204
512,108
£827.598
Approved by the Parochial Church Council on 6 March, 2024
2nd signed on it5 behalf by-
Reverend Prebendary Jennifer We15h
The notes on page5 15 to 24 form part of these accounts.
14

CONSOLIDATED ACCOUNTS OF
THE PAROCHIAL CHURCH COUNCIL OF ST MARY THE BOLTONS,
ST MARY'S REDCLIFFE GARDENS TRUST.
ST PETER'S CRANLEY GARDENS TRUST
AND THE LOUISA WILSON LEGACY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
The PCC is a public benefit enuw within the meaning of FRS102. The financial sratements have been
prepared under the Charities Act 2011 and in accordance with Church Accounting Regulations 20L16
governing the individual accounts of PCCS. and wiih Ihe Regulauons true and fair view" provisions.
cogether with FRS10212016) a5 the applicable accounting Standards and rhe 2016 version of the Statement
of Recommended Practice Accounting and Reporting by Charitses {SORP (FRS102)).
The financial statements have been prepared under the historical cost convention. The financial sta￿MentS
include all Iransactions. assets and liabilitses for which the PCC is responsible in law. They do not include
the accounts of church groups that owe their affiliation to another E*)dy, nor those that are informal
gatherings of church members.
Funds
Unrestricted funds
These represent the remaining income funds of the PCC that are available for spending on the general
purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for
spending on a future project and which are therefore not included in its "free reserves" as disclosed in the
trustees reporL
Restricted funds
These are income fund5 that must be spent on restricted purpo*s and details of the funds held and
restrictions provided are shown in the note5 to the accounts.
Endowment funds
These are restriC￿d income funds that must be retained as trust capital either Ftrmanently or subject to a
discretionary power to spend capital as income. and where the use of any income or other benefit derived
from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the
notes to the accounts.
Incoming Resources
Voluntory income and capitol sources
Collections are recogni5ed when received by or on behalf of the PCC.
Planned giving receivable under covenant or Gift Aid is recognised only when received.
Income tax recoverable on covenants or Gift Aid donations is recognised when the income is received.
Grants and legacies to the PCC are accounted for when the funds are received.
Funds raised by the Summer Fair and other ever)ts are accounted for gross.
Sales of book5 and magazines from the church book stall are accounied for gr05S.
15

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES (continued)
Other ordinory income
Rental income from the letting of church premises is recognised when the rental 15 due.
Income from investments
Diyidends and interest are accounted for when receivable.
Resources used
Grants
Grants and donations are accounted for when paid over. or when awarded, if thal award crea￿S a binding
obligation on the PCC.
Activities directfy relotsng to the work of the church
The Diocesan or Parish Share is accounEed for when payable. Any quota Ltnpaid at 31 December is
provided for in these accounts as an operational (though not a legall liability and is shown as a creditor in
the Balance Sheec
All other expenditure is generdl recognised when it is incurred and is aCCoun￿d for gross.
Fixed a55etS
Consecrated lund ond benefKe Pmpery
In so far as consecra￿d and benefice property of any kind 15 excluded from the statutory definition of
"Charity" by Section 10{2) (a) and (c) of the Chariues Act 2011 such assets are not capitalised in the
financial statements.
Movoble church furnishings
Movable church furnTrshings held by the vicar and churchwardens on special trust for the PCC and which
require a faculty for disposal are inalienable property. listed in the church's inventory. which can be
inspected {at any reasonable time). All expenditure incurred during the year on consecrated or benefice
buildings and movable church furnishings. whether maintrnance or improvement. is written off as
expenditure in the SOFA and separately disclosed.
Tongible fixed assets for use by chority
Equipment used within the church premises is depreeiated on a strdight line basis over 4 years. Individual
item5 Wlth a purchase price of £5.000 or less are written off when the a55et is acquired.
The church boilers were replaced in 2022. As these were funded by Ihe Fabric Fund, the PCC decided to
write off the costs of the boilers againsr this fund and not to capitali5e them.
Investments
Investments quoted on a recognised scock exchange or whose value derives from them are valued at
market value at the year end. Other investment assets are included at PCC'S best estimate of market value.
The London Diocesan Fund, as Custodian Trustee, has advised that the bequest under the Will of Louisa M
Wilson 15 a sripend's trust fund the terms of which are c￿r￿ndY ￿Ing fulf411ed by direct payment of the
income from che trust to the Diocesan Stipends Fund.
Short tem? deposits
These are the cash held on deposit either with the CCL4 or at the bank.
Current osseis
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as
debtors less provision for amounts that may prove uncollectible.
16

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
2 INCOME AND ENDOWMENTS
Total Fund5
2023
2022
i Unrestricted Restricted Endowment
Funds
Funds
lunds
2(a) Voluntary income
Planned giving..
Gift Aid donations
Donation from The Bacon Foundation
Donations for music scholars and recir21s
Donation for Fabric Fund
Donations for Garden Project
Donation for Organ Fund
Donation5 for garden knches
Tax recoverable
Collection {open plate) at all 5ervice5
Collections through Goodbox
Collection boxes in church
Sundry donations
Donations. appeals etc
Legacies
68.442
68.442
78,175
36,000
4.042
11,050
600
5,000
600
19,608
8,109
7,401
1,586
12.072
11,343
5.000
£NiL £150,281 £200,586
1,587
25.705
500
250
1.587
25.705
500
250
18.455
50.017
6.807
609
8,326
3.950
22,405
10,017
6.807
609
8.326
5,633
5.633
£112.656 £37.625
2{b) Activities for generating funds
Autumn Fair
Parish lunches
Sale of Christmas cards and postcards
14.178
14.178
562
58
£14.798
12,300
562
58
£620 £14.178
137
£12.608
£NIL
2(c) Income from investments
Bank and deposit In￿reSt
Dividends
Income from St Peter's Trust
Mast income
5,526
13.919
2.995
1,192
19.445
2.995
1,192
29.641
£53,273
5.500
2,979
1,020
29,916
£39.415
29.641
£35,167
£NIL
£18,106
2(d) Income from church activities
Fees for weddings and funernls
Fees - payable to London Diocesan Fund
Church hire
Church hall lettin
Paint Pots
AA and NA meetings
Other hall bookings and car parking
Church flowers
Coffee income
2.169
2,169
1.659
2,590
7,071
5,696
4.480
1.659
2.590
73.690
9.305
16,463
950
73,690
63,441
9.305
8.245
16,463
13,590
950
845
884
835
£NIL £107.710 £104.203
£106.051
£1.659
2(e> Other incoming resources
Recovery of VAT
Recovery of expenses
Recovery of music costs for speci31
service5
Recovery of floodlighting costs
Recovery of energy costs
Recovery of Deanery costs
7.885
3,640
7,885
3,640
22,191
4,634
6,712
6,712
647
444
2.641
2,400
2,400
£21.284
£50,422
£18.106 £347.346 £407,234
2.400
£12.172
£9.112
£266.666 £62.574
£NIL
TOTAL INCOME
17

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
3 EXPENDITURE
Total Funds
Unrestrict- Restrirted Endowment '
ed Funds
Funds
funds
2023
2022
3{a) Church activities
Missionary and charitable giving-
Home missions and other Church Societies
Bishop of London'5 Lent Appeal
Other charitable donations:
Learn 2 Love 2 Read
USPG
Beacon House
Lyra in Africa
Paul'5 Cancer Care
Emergency Fund
Compassion UK
S Cuthbert w S Matthia5 CO￿ Primary School
Other
2CKI
200
200
4.7(Kl
4,700
4.700
2.100
2.100
4,227
4.227
1,409
1.489
1,409
2.100
2.1(
500
500
224
414
7.903
21,502
2,606
2,606
16.906
Ministry..
Diocesan parish share
Clergy expenses
Vicarage expenses
Clergy cover
Fees paid to London Diocesan Fund
Sanctuary
Church - insurance
Church - running expense5 (light. heal
cleaning)
Church maintenance (excluding fees)
Church boilers (excluding fees)
Church west end stonework
Church spire, balustrade, lightning conductor
Gas main repair
Garden maincenance and bench
Sunday school and youth group expenses
Second Half Club
Church music
Church mu5ic- music scholars
Church music - recitals
Church mu5ic- fees recovered for services
Verger's salary and costs
Training
Administration..
Administrator
Printing and stationery
Website costs
Ocher costs
Church Hall water rates and council tax
Church Hall - running expense5 IlighL heal
cleaning)
Church Hall maintenance
Church Hall - refurbishment
Church Hall loft insulation
93.000
168
1.646
273
93.0¢)0
168
1.646
273
90,000
458
1,680
234
5,696
451
8,634
1.659
9.498
9.498
19.432
19,432
13,744
9.440
9.440
4,877
70,800
12.935
1.849
9.167
4.094
35
231
16,8n
2.078
200
12.935
1,849
9,167
30,308
500
3,754
804
197
14,313
4,874
695
1,135
231
18.064
3,665
200,
6,712
19.902
Is
1.192
1.587
6.712
19.902
15
17.950
491
33.829
1.594
14
36.229
1.594
33,537
1.593
1,200
6.179
2,861
4.474
2.655
4,474
2.655
20.987
20.987
19.699
5,318
5.318
4.455
16.073
3,893
£399.064
£269.808 £32.056
£NIL £301,864
18

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
3 EXPENDITURE (continued)
Total fund5
2023
2022
Unresttitted Restricted Endowme
Funds
nt
3(b) Generation of voluntary
income
Expenditure on Autumn Fair
Goodknx charge5
Expenditure on flowers
2,905
2.905
896
861
2.141
486
672
896
£1.757
£2.905
£NIL
£4.662
£3,299
3(c) Governance Costs
Independent examiner's remuneration
£825
£NIL
£NIL
£825
£552
3(d) Other resources expended
Legal and profe55ional charges-
Consultancy regarding heating systrm
Architects, costs: spire repair
Architects. costs: west end repairs
Architects, costs= west end prop)sals
Techni¢al advice.. west end proposals
Technical advice in respect of organ
Rewrt on Craigie Aitchison window
Other
3,906
5,847
916
2.374
1,743
720
660
2.820
1,309
£10,542
916
2,374
6.948
720
660
2.820
1.309
£15.747
5,205
1.755
£11.508
£5,205
£NIL
TOTAL EXPENDITURE
£282.932 £40.166
£NIL £323.098 £414.423
STAFF COSTS
2023
2022
Wages and salaries
53,088
48,720
Social security Costs
4.624
4,267
Pension costs
2.761
2,637
£60.473
£55,624
Le5s- PAYE credit
(4,6241
£55.849
(4,267)
£51,357
The PCC employed a full-time verger and Parish Office Manager neither of whom earned £40.¢)00 p.a. or
more.
The Director of Music is 5elf-employed.
No member of the PCC received remuneration or other benefits from the funds of the council.
See Note 13 for details of the PCC'5 Pension Scheme.

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
FIXED ASSETS FOR USE BY THE PCC
Toftgible fixed ussets - other
Parish
otrices
Hall. kltchen
and hall llat
refurbishment
TelÈphone
& security
5y5tem5
Piano
Computers
Total
GROSS BOOK VALUE
A( l January 2023
Additions
Disposals
At 31 December 2023
32,681
46.392
8.6¢)0
2.518
4.485
94.676
46,392 8,600
2.518
4,485
DEPRECIATION
At I january 2023
Disposals
Charge for the year
At 31 December 2023
32,681
46.392
8.600
2.518
4.485
94,676
32.681
46.392 8.600
2.518
4.485
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
£NIL
£NIL
£NIL
£NIL
£NIL
£NIL
£NIL
£NIL
£NIL
£NIL
£NIL
£NIL
In 1999, The Boltons Security Association paid £20.889 on behall of some of the residents of The Boltons
for 3 scheme to floodlight St Mary's Church.
DEBTORS
2023
2022
Bank and deposit interest due
Dividends due
5,865
757
Prepayments and accrued incowne
LPWGS- VAT reclaim
11.995
7.885
£26.502
14,247
22.190
£36,437
INVESTMENTS
Redcliffe
Gardens Trust
St Peter's
Cranley
Gardens Trust
Louisa Wilson
Legacy
Total
investment5
Market value at l January 2023
Net gains l {lossesl
Market value at 31 December 2023
100.149
9.422
£109,571
33.099
3.114
£36,213
68,224
6.419
£74,643
201,472
18,955
£220.427
The total holding for all three trusts at 31 December 2023 was 9.751.14 shares in the CBF Church of
England Investment Fund.
20

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Deferred income
Accruals of utility and other costs
I Creditors for goods and 5ervice5-
Goods and services
Charitable donation5
Other creditor5
26.488
4,217
23,399
5.475
1,782
14.207
1.981
£48.675
12,210
12,048
3,491
£56.623
FUNDS
The restricted funds comprise the Associate Vicar's Stipend Fund. the Bacon Foundation Fund. the Fabric
Fund. the Organ Fund and the Garden Regeneration Fund.
The Associate Vicar's Stipend Fund. the Fabric Fund, the Organ Fund and the Garden Regeneration Fund
represent funds received from donors for expenditure on these specific costs. The Bacon Foundation Fund
contains grants which must be spent on church projects within a time period of two years and which must
be accounted for separately from general funds.
The endowment funds comprise the St Mary's Redcliffe Gardens Trust. the St Peter'5 Cranley Gardens
Trust and the LOU￿sa Wilson Legacy. Some of the funds are held as permanent endowment, but a
proportion is available for distribution in accordance with the terms of the trust deed and the PCC has
been able to call on these funds to assist with major capit21 expenditure in the church from time to time.
The income from the St Peter s Cranley Gardens Trust is received by the PCC and contributes to the
expenses of the organ and choir l£1.192. 2022.. £1.020). The tnjst has capital that is a permanent
endowment, but it is considered a "small" charFty by rhe Charity Commission so the PCC may be able to
resolve to remove the permanent resEriction5 on the capital and spend the capital as if it were income,
should they believe that the purpose5 of the charicy could be more effeciively carried out as a result. The
income from the Louisa Wilson Legacy (£2,040, 2022- L2,029) 15 paid directly to the Diocesan Stipends
Fund and thus is not shown in these accounts.
FUND DETAILS
2023 j
2022
General Fund (unrestric￿)
The Bacon Foundation Fund
Associate Vicar's Stipend Fund
Fabric Fund
Organ Fund
Garden Regenerarion Fund
St Mary's Redcliffe Gardens Trust
St Peter'5 Cranley Gardens Trust
Louisa Wilson Legacy
Revaluation Reserve - investments
88.938
82.756
29.900
32.656
11.500
105.204
82,756
31,000
9,456
i 0.000
443.343
31.545
54.134
96,029
£870.801
426.429
31,545
54.134
77,074
£827,598
21

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
SUMMARY OF FUND MOVEMENTS
(a) Unrestricted and restricted funds
Uthrestrjct-
ed Fund5
The Bacon
Foundation
Fund
Associate
i¢arf5
Stir*ttd Fund
Total
{RestriCted
and
UDrestrictsdl
Fabric
Orgatb
Fund
Garden
Re8enera-
tion Fund
Balance at l January
2023
105,204
81756
31.000
9.456
10.000
238,416
Incoming resources
Resources expended
Investment gains
Balance at 31
December 2023
266.666
1282.932)
28.405
(5,205)
1.500
500
297.071
{500) {289,734
{i.100)
£88.938
£82.756
£29.900
£32,656 £11.500
£NIL
£245,750
(b) Unrestricted, restricted and endowment funds
Re5trKted
irKome
Restricted
runds
larbalysed
above)
St Mary'5
Redcliffe
Gardens
Trust
St Peterf5
Cranley
Garden5
Trust
Unrestricte
Fund5
Louisa
Wilson
Legacy
Total
Funds
expenses
Balance at l January 2023
Incoming resources
Resources expended
Investment gain5 1 (losses)
Transfer of St Peter's
income
Balance at 31 December
105.204
266.666
32.169
(282.9321 {33.361)
133.212
30.405
(6.805)
482,577
16.914
38,381
1.192
68,224
827.598
347.346
{323.0981
18.955
9.422
3.114
6.419
1,192
(1,192)
2023
£88.938
INIL £156.812 £508.913 £41.495 £74.643 £870.801
SUMMARY OF ASSETS BY FUND
Unr*stri¢ted Fvthds
Htstricteil Eno¢)wr￿knt
fvtK15
Total Funds
2023
2022
Fixed assets
Current assets
Current liabilities
122.970
171.455
(34.032) (14.6431
£88.938 £156.812 £625,051
625.051
919,476
(48.675)
£870.801
884.221
156,6231
£827.598
22

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
PENSION SCHEME
Church Workers Pension Fund {CWPF)
St Mary The Bolton5 PCC participates in the Pensron Builder Scheme section of CWPF for lay staff
{Pension Builder 20141. CWPF is admin551ered by the Church of England Pensions Board. which holds the
CWPF assets separately from those of the Employer and other participa(ing employers.
CWPF has two sections:
the Defined Benefits Scheme
the Pension Builder Scheme. which has two subsecrions-
a deferred annuity section known as Pension Builder Classic. and.
a cash balance section known as Pension Builder 2014.
Pension Builder Scheme
Both 5ection5 of the Pension Builder Scheme are classed as defined benefit schemes.
Pension Builder Classl¢ provides a pension. accumulated from contribuiions paid and converted into a
deferred annuity during employment based on terms sei and reviewed by the Church of England Pensions
Board from time to time. Discretionary increases may a150 be added, depending on investment returns and
other factors.
Pension Builder 2014 15 a cash balance scheme that provide5 a lump Sum which members use to provide
benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary
bonuses may be added before retiremen( depending on investment returns and other factors. The account,
plus any bonuses declared is payable, unreduced, from age 65.
There is no sub-division of assets between employers in each section of the Pension Builder Scheme.
The scheme is considered to be a multi-employer Scheme as described in Section 28 of FRS 102. This 15
because it is not tK)ssible to attribu￿ the Pension Builder Schemes assets and liabilities to specific
employers and means that contributions are accounted for as if the Scheme were a defined contribution
scheme. The pensions costs charged to the SOFA in the year are the contribution5 payable (2023: £1.561.
2022- £1,457).
A valuation of the Pension Builder Scheme is carried out once every three year5. The most recent valuacion
was carried out a5 at 31 December 2019.
For the Pension Builder Classic section. the 2019 valuation revealed a deficit of £4.8m on rhe ongoing
assumptions used. At the most recent annual review effecrive l January 2024, the Board chose 10 grant 2
discretionary trK)nus of 6.7% Eo i%)th pensions not yet in payment and pensions in payment in respect of
service prior to April 1997: and a bonvs on pensions in payment in respect of post April 2006 service so
that the pension increase was 5% (where usually it would be calculated based on inflation up to 2.5%). Thi5
followed improvemerbts in the funding posltion over 2023. There is no requirement for deficit payment5 at
the current time.
For the Pension Builder 2014 5ettion. the 2019 valuation revealed a surplus of £5.5m on the ongoing
assumptions used. There is no requiremer)t for deficii payments at the current time.
The next valuation is due as at 31 December 2022. Calculations for this are currently under way.
The legal structure of the Scheme 15 such rhat if another employer fails. St Mary The Boltons PCC could
become responsible for paying a share of the failed employer's pension liabilities.
23

The PCC of St Mary with St Peter & St Jude. West Brompton registered charity, no. 1133073
24