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
Trustee Annual Report and Accounts
for the year ended 31" December 2024
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 SW I O. It is part of the Diocese of London within
the Church of England. The Parochial Church Council ("PCC") of the church is a body corporace
established by the PCC (Powers) Measure 1956. It is registered as a 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 encouraged to register on
the Church Electoral Roll to become eligible both to elect PCC members and to stand for election
to the PCC.
ADMINISTRATIVE INFORMATION
Address and contact details
The Parish Office
St Mary's Church
The Boltons
London SW 10 9TB
Telephone 020 7835 1440
Email office@stmarytheboltons.org.uk
Vicar
Reverend Prebendary Jennifer Welsh
Parish Officers and Elected Representatives
Churchwardens
Mrs Candice Lee
Mr Leo Fraser-mackenzie
Members of the Parochial Church Council who have served since I" January 2024 until
the date of this report were:
Revd Preb Jennifer Welsh (chair)
Mrs Adrea Blakeney
Mr Alex Burtt
Mr Christopher Fowkes
Mr Leo Fraser-mackenzie
Miss Margarete Geier
Miss Joanna Hackett (PCC Secretary)
Mr Clive Ingram
Mrs Candice Lee
Mr Jack Limandat
Mrs Rosemary Meckiff Mengel
Ms Renata Molina Lopes
Mrs Jane Nicholas
Mr Lee Speakman
Miss Carolyn Stubbs (Treasurer)
Until April 2024
Churchwarden
Deanery Synod Representative
Deanery Synod Representative
Churchwarden
Elected April 2024
Until April 2024
Elected April 2024
Elected April 2024
Elected April 2024

PCC Treasurer and Assistant Treasurer to
Redcliffe Gardens Trust
Miss Carolyn Stubbs
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 Architect
Mr Russell Hanslip of HMDW Architects Ltd
STATEMENT OF PURPOSE
St Mary's is a church working within the ethics and eth05 of the Church of England and the aim of
the PCC, in cooperacion with the incumbent, is to promote the whole mission of the church
pastoral, evangelistic and social and ecumenical. The PCC is also responsible for the upkeep of the
church of St Mary The Boltons, a grade 2 listed building.
The priorities of our common endeavour as the Body of Christ at St Mary's are reflected in our
parish strapline Rooted in Faith. 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 is loving, abundantly generous, and merciful. We are also 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 area which we serve. Local schools visic for
concerts, assemblies, and to discover the church's history. arc and architecture. Local
institutions are welcome to hold events, Christmas concerts and meetings. Local people
enjoy our garden as a place of quiet and beauty.
Open: St Mary's is an open church: We try to be open to the movement of God's Spirit in
our world. We are an inclusive church, welcoming everyone, regardless of background,
gender, ethnicity, or sexualicy, 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, rest.
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; supporting local food banks", 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 priorities worked out in practice in 2024. In planning and undertaking these activities the
trustees confirm they have had regard to the Charity Commission guidance on public benefit.

ACTIVITIES AND ACHIEVEMENTS
Membership on the parochial Electoral Roll was 129 in April 2024. In 2025 the roll has been fully
revised, and now stands at 122.
Worship and Prayer in 2024
Sunday services continued as in previous years, wich the principal Sunday morning seryices
supported by music from Choral Scholars, voluntary and professional singers. The Sunday average
attendance was 91, including I I children under 16.
Occasional offices included l O baptisms. I thanksgiving for a child. 9 weddings, 4 funerals, I
memorial service and 4 intermencs of ashes.
Two adult candidates were presented for confirmation by the Bishop of Kensington.
Major festivals like Christmas and Easter followed the same pattern as in previous years. Holy
Week included a series of meditations via Zoom link, the Maundy Thursday Liturgy. two services
(one for children) on Good Friday, and che Vigil for Holy Saturday in the late afternoon. Easter
Day services were well attended and were followed by festive refreshments in church.
Christmas Carol services included three raising money for outside charities, and a very successful
Nine Lessons and Carols where the colleccion was taken for our own Charitable Pot. Christmas
Eve and Christmas Day services were extremely well aitended by local neighbours and visitors.
Morning and Evening Prayer were said daily on weekdays in church by the Vicar and lay 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 continued to grow with
preschool children in the majority (accompanied by parents). Each session is run by two leaders,
appropriately trained 2nd DBS cleared. Children are introduced to popular Bible stories. simple
prayers and songs, and engage in age appropriate craft activities. Parents are encouraged to join in
and take seriously their role in teaching their children the Christian faith.
We reintroduced a team of robed Servers to the main Sunday Eucharist and other services, and
have Erained up four young people to serve as acolytes and crucifers, along with one adult who
also serves at the altar. Serving provides a way for older children to engage actively on a Sunday,
and 10 make a valuable contribution to the church's worship.
A new weekday Bible Study group, led by the Reverend Lesley Perry, began in the Autumn,
meeting at the Vicarage. The group used Amy-jill Devine's book. The Difficult Words ofjesus.
Lent and Advent discussion groups ran as usual. On Sundays in Lent we met for discussion after
the main service, using Andrew Maye5 Roods of Hurt and Hope - tronsformative journeys in the Holy
Lond. We met for Night Prayers via a Zoom link during Lent and Holy Week once again. On
Sundays in Advent after the main service, we met for a three week series of discussions around
the theme of Refreshing our Mission, using the strapline words Rooted, Open and Caring.

Stewardship
The PCC agreed to register wich the Church of England's Parish Giving Scheme, and are
encouraging members who are already giving as parr of regular stewardship, as well as all who are
not regular givers to join the scheme. At the time of writing there are 22 members using the
scheme.
Engagement and mission
Responding to our mission statement to be open to all who come to St Mary's. regardless of age,
ethnicity, religious background. gender or sexuality, the PCC passed two significant resolutions
expressing our commitment to full inclusion in our church: to use and make available the Church
of England's Prayers of Love and Faith for same sex couples, and also co register as a member of
the Inclusive Church Necwork. Both of these are noted on our website and social media pages.
We make monthly visits to two local nursing homes, to offer a service of worship, with prayers
and hyrnns. One, a Roman Catholic community within the parish, invites us to share Holy
Communion with residents who wish to receive it. The other is just outside our boundary. and it
is hoped that in the coming year that this service will be shared with local clergy from other
parishes.
The Second Half Club continued through the year with the familiar pactern 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.
The Parent and Baby group developed into a lively Toddler group that meets twice a month, on
Wednesday mornings. Participants are invited via local parents, networks as well as through our
own publicity. The sessions attract an average of 5 children and parents or carers, and are led by
two leaders who are appropriately trained and DBS cleared.
The church space continued being used by local private schools for concerts, presentations, and
the occasional religious assembly. Year groups from the local state primary school continue to
come to the church for RE and Art classes.
During Advent we hosted three Charity Carol Services generating funds for their causes. St Mary's
once again shared an outdoor Community Christmas Carols event with the next door parish of St
Luke's, Redcliffe Square bringing togecher more than 400 local people 10 sing carols and enjoy
mulled wine and mince pies in the open air. We were thrilled to welcome our new MP on this
occasion, his first Visit to our parish.
The church continues to be a collection point for food donated by neighbours and members of the
congregation. In 2024 we began to receive food nearing its sell by date from Marks and Spencer
each week. All foodstuffs and other grocery items are distributed by volunteers to local food
banks and a homeless charity, as well as to sheltered residences in the parish.
A substantial Harvest collection of foodstuffs from both the church and local schools 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 foodbanks were not
open.

St Mary's worked with the Earls Court Youth Club's Older Persons Project to provide Christmas
Lunch for 70 elderly people in the church hall. We were able to support the event using a grant
from the Kensington Parochial Charities.
The church gardens continue to be a place of respite and refreshment for local people to enjoy
and can be hired for use by private parties and community groups. More new benches were placed
in the garden by local families in memory of loved ones, 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 charicies supported through the church's Charitable Pot.
Hospitality and Welcome
St Mary's, as part of our efforts to full inclusion, strives to be fully accessible to all, using large print
material, a hearing loop, and ramped entrance as well as accessible toilet facilities. We publish a
monthly newsletter and provide electronic and hard copies via email and postal services, The
major works planned for the west end include upgrading the access for wheelchair users.
The church is open for individual prayer and meditation daily. The Vicar works from an office in
church and is available to visitors or those seeking prayer or counsel. The Office is open daily
from 9am- 5pm.
Fabric
Routine inspections of gas fittings, gutters and the lightning conductor led to some remedial work
on the lightning conductor and the replacement of the hall boiler.
The PCC approved plans for the refurbishment of the hall kitchen, but the company selected to do
the work failed to provide a start date, effectively withdrawing from the contract. At the end of
the year another firm who had also tendered for the contract was approached to take on the work
which we still anticipate will be completed during 2025, along With repairs to a leak in the kitchen
roof. The new kitchen will be entirely electric, another small contribution towards achieving a net
zero carbon standard by 2030.
The organ is an important feature in church and so it should be recorded briefly here that durin8
the year the contract for its maintenance and tuning was switched from Walkers to Harrisons, with
the new contractor undertaking an extended initial visit to get to know the instrument.
It is also worth recording that the large vestry printer was replaced during the year, and the
desktop computers in both the Vicar's office and the Parish Office were also replaced.
An independent Fire Risk Assessment was commi55ioned in 2024. This led to the replacement of
the fire extinguishers in church, and it also became clear that a thorough assessment of the fire
doors throughout the complex was needed, including the food serving hatch between the kitchen
and hall.
As part of the parish's commitment to Net Zero Carbon, the hall kitchen will be refurbished in
2025, movin8 from gas to electric and cooking. Thi5 is another step in a staged approach to
upgrading the hall to prevent heat loss and reduce carbon emissions from heating.
Leo Fraser-mackenzie

The Charity Committee
The Charity Committee is a Sub-committee of the PCC and meets at least six times a year.
selecting charities which are supported from our Charitable Pot, communicating with those
charities and assisting with activities to raise funds for the Charitable Pot. In 2024 we raised funds
for USPG'S Parcner in Mission. Church of North India Anti-Human Trafficking Programme.
Through the Roof s Wheels for the World, and for several local charities: Learn To Love To Read,
Beacon House, and the Earls Courc Youth Club.
Safeguarding
All volunteers working among children and vulnerable adults have had DBS checks and been
appropriately trained according co our Safeguarding policy. The Trustees affirm thac safeguarding is
the responsibility of all members of the church, and are committed to safeguarding 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 2024, 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 (ducy to have regard to House of Bishops,
guidance on safeguarding children and vulnerable adults).
LONGER TERM GOALS
A substantial refurbishment and repair of the church organ is to be undertaken, with funds
specifically raised for this purpose.
As part of the parish's continuing commitment to Net Zero Carbon, the next step will be to
investigate how to move from gas to electric heating in the hall.
It has, until 2024, been hard to elect a full complement of PCC elected members, leading to vacant
places over time. In addition to working to fill those vacancies in 2025, che APCM will be asked to
consider whether to diminish the number of elected places from twelve to ten, to take effect at
the 2026 APCM.
Signed on behalf of the PCC by The Reverend Prebendary Jenny Welsh
On.....................................................................................................2025

Financial Review and Reserves Policy
The PCC'S consolidated accounts include the assets of St Mary s Redcliffe Gardens Trust (RGT),
St Peter's Cranley Gardens Trust and The Louisa Wilson Legacy. The PCC is the Managing
Trustee of RGT. St Peter s Cranley Gardens Trust and the Louisa Wilson Legacy. The PCC
receives income from St Peter s Trust (£1.280; 2023: £1.192) and the capital of £42,324 (2023:
£41,495) is included with that of RGT as endowment funds in the consolidated accounts of the
PCC. The income from the Louisa Wilson Legacy (£2,072; 2023,. £2,040) does not benefit the
PCC direccly as it is paid to the Diocesan Stipends Fund. However as trustee we are obliged to
include the capital (£76,351. 2023: £74,643) in our consolidated accounts as part of our
endowment funds.
The total consolidated assets of St Mary s PCC have increased by £65,567 to £936,368. The
General Fund increased by £12,319 while Restricted Funds increased by £28,830 and Endowment
Funds by £24,418 (the latter through investment income received and an increase of £5,045 in the
value of the investments).
The increase in the General Fund is made up of some significant changes in incoming resources
and expenditure, as analysed below:
Incoming resources
Regular giving for the year increased to £73,487 (2023: £68,442) but this did include some "one-
off ' donations frorn regular donors. Tax recoverable on gift aided donations (including donations
to Restricted Funds) was lower than the previous year at £19,196 (2023: £22,405), but this is
partly because the tax reclaim is based on the tax year to 5 April and thus reflects donations in the
previous year. Some parishioners are now giving (as recommended) via the Parish Giving Scheme
and this means that we receive the gift aided tax on their donations in the same month.
Collections at serrfices were higher than the previous year at £12.224 (2023: £10,017, while
additional donations through Goodbox devices were similar (£7,205, 2023: £6.807). We also
accept donations through CAF Donate online but usage has been sporadic with income of £2,454
(2023: £3,867) included with donations in several categories. Receipts include a few large
donations and several small ones, including for the Charities Pot.
Sundry income was higher in 2024 at £13.657 (2023: £8,326). This income includes some
exceptionally generous donations after a wedding, a funeral and several baptisms.
Donations of £10,500 to the Fabric Fund, plus the tax reclaim of £2,625 and two legacies totalling
£15,000, took the Fabric Fund to £60,781. The Fabric Fund will be put towards a new kitchen.
Donations of £705 increased the Organ Fund to £12,205 (2023: £11,500).
Income from Church Hall rentals has returned to pre-pandemic levels. During term-time our Hall
is used by PainE Pots Montessori Schools as a nursery school. A mid-term review of the Licence
Fee was undertaken in 2022 and the Licence Fee was increased and the Service Charge was also
revised to take accounc of increased costs. Rental income from Paint Pocs in 2024 was £80,901
(2023: £73,690). Evening hire of the Hall by twelve steps and other groups remained steady at
£9,365 (2023- £9,305). Other hire of Ihe Hall, for example for children's parties, rose to £19,746

(2023.. £16.463): £5,000 of this (2023: £5,000) came from a car parking agreement which was also
renewed in 2022.
We held Autumn Fairs in 2024 and 2023, although profits from the fair do not benefit St Mary's
and are paid out to our chosen charities. The 2024 Fair was very successful and raised £7.229 net
of expenses (2023: £11,273) for our charities. The 2023 result included che auction of a Ken
Howard painting. Other funds we raised for charities came from specific appeals and at services
and so are included as donations rather than fundraising activities.
We recovered £2,825 of VAT on repair work to the church buildings from the Listed Places of
Worship Grant Scheme (2023: £7.885). We also recovered £2,000 (2023: £2,400) from the
Diocese towards the time our Parish Manager spent on work for the vicar in her role as Area
Dean. There is now a new Area Dean so we will receive no further reimbursement. Other
recoveries included expenses for music and heating at weddings, funerals and other services at St
Mary's and for floodlighting of the church.
Resources used
Our costs were slightly lower in 2024 at £311,388 {2023: £323,098).
In 2024 our biggest expense wa5 the contribution of £97,080 to the Diocese of London Common
Fund (2023: £93,000).
In 2024 our total repairs and maintenance costs were low (£8,081 plus £1,862 for associated
professional fees). In contrast in 2023 our general repairs and maintenance costs were £12,205
(including fees) and in 2023 we also undertook stonework repair at the west end at a cost of
£15,309 including fees and VAT and we repaired a gas main at a cost of £9,167.
We incurred further fees in 2024 regarding the proposals for improvements to the west end
(architects, fees, a technical report and a report on trees).
Salaries of our Parish Manager and verger were higher in 2024 due co cost of living pay increases.
Salary costs were £60,065 (2023: £55,849). Payments to our Director of Music. musicians and
cleaner were also increased.
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 previou5 years. We have passed
on some of the costs by increasing the heating charge for use of the church for weddings, funerals
and other special services.
During 2024 we replaced the Hall boiler at a cost of £5,068. We also replaced our photocopier
(£7,504) and office computers {£1,985}, although these have been capitalised in the balance sheet
and will be depreciated over four years.

Balance sheet
The PCC'S assets consisc principally of cash held with the CBF Deposit Fund or in the General
Account at Barclays Bank.
Barclays closed our account for Redcliffe Gardens Trust in October 2023 as they were unsatisfied
with our responses to their questions abouc 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 was shown as a
current asset on the balance sheet at the end of 2023.
Debtors of £20,795 (2023: £26,502) include insurance for the church which is paid in December
for the following year, together with some outstanding rents and amounts reclaimed relating to
the current year (such as the VAT reclaim and match-funding for the Autumn Fair}. We have also
accrued £6,438 (2023: £5.865) for interest due on bank deposit accounts for the last quarter of
che year but not paid until early January.
Liabilities are lower than in the previous year (£39,535. 2023: £48,675). Deferred income of
£19,988 (2023.. £26,488) includes December payments by Paint Pots and mast income for the
following year. Our liabilities also include amounts due to our chosen charities (£9,898. 2023:
£14,207).
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 situations that may arise
from time to time. The PCC also considers it important to hold funds in reserves for future
restoration costs and recognises that steps will have to be taken to improve the strength of the
balance sheet if these Lirgets are to be maintained.
We were very fortunate to receive donations of £36,000 from The Bacon 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 che grant required us to account separately for its 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 towards the plans for the insulation of the west end of the church and for improved
access. The Fund stands at £82,756.
The Associate Vicar's Stipend Fund was set up in 2008, and donation5 were received for this
purpose in each year since it was established. Following discussions with the donor. from 2017
donations have been made to the Fabric Fund. In 2023 we used the fund to pay for a youch
programme (£ I, 100). The Associate Vicar's Stipend Fund stands at £29,900 (2023: £29,900).
There were donations to the Fabric Fund of £10,500 in 2024 {2023: £25,705) plus a Gift Aid
reclaim of £2,625 (2023: £2,700). We also received two legacies totalling £15,000 which were
added to the fund. The year end balance on the fund was £60,781 (2023: £32,656).
io

Redcliffe Gardens Trust
Redcliffe Gardens Trust is a separate trust of which the PCC is the Managing Trustee. The trust
made no distribution in 2024 or 2023 and the value of the assets increased to £530,794 (2023:
£508,913). These assets are held mainly as cash with a small percentage held in the CBF Church of
England Investment Fund. 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 this trusc to assist with major capital expenditure in the church from cime 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 (£1,280. 2023: £1.192). The trust has capital that is a permanent endowment. but it is
considered a "small" charity by the Charity Commission so the PCC may be able to remove the
permanent restrictions on the capital and spend the capiral as if it were income, should chey
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 £42,324 (2023.. £41,495). 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 (£2,072; 2023: £2,040} is paid directly to the Diocesan
Stipends Fund and thus is not shown in these accounts. The value of the assecs at the year-end was
£76,351 (2023: £74,643). The assets were held in the CBF Church of England Investment Fund.
Corolyn Stubbs,
Treasurer
li

Independent Examinerfs Report to the memberltrustees of St Mary The Boltons. Parochial Church
Council
I report on the accounts forthe year ended 31 December 2024, which are set out in the Trustees
Annual Report and Accounts
Respective responslbllities of trustees and examiner
The charity trustees are responsible for the preparation of the accounts. The chariVs trustees
consider that an audit is not required for this year (under section 144 (21 of the Charities Act 2011
{the 2011 Art) and that an independent examination is needed.
It is my responsibility to:
examine the accounts (under section 145 of the 2011 Act);
to follow the procedures laid down in the General Directions given by the Charity
Commissioners (under section 14515llbl of the 2011 Act); and
to state whether particular matters have come to my attention.
Basi5 of Independent examlnerfs report
My examination was carrled out in accordance with the General Directions given by the Charity
Commlssion, An examination includes a revlew of the accounting records kept by the charity and
comparlson of the accounts presented with those records. It also includes consideration of any
unusual items or disclosures in the accounts, and seeking explanations from the management
committee concerning any such matters. The procedures undertaken do not provide all the evidence
that would be required in an audit, and consequentSy I do not express an audit opinlon on the view
given by the accounts.
Independent examlnerfs statement
In connection wlth my examlnation, no matter has come to my attention:
{11 which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the
accounting requirements of the 2011 Act; have not been met,. or
(2) to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Independent Examiner- Franklin Atille FCCA
FMA Online Ltd
Building 3 Chiswick Business Park
566 Chiswick High Road
Chiswick
W4 5YA
26 March 2025
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 2024
Note
Unrestricted
Funds
Restricted Endowment
Funds
fund5
Total funds
2024
2023
INCOME AND
ENDOWMENTS
Voluntary income
Activities for generacing funds
Income from investments
Church activities
Other incoming resources
121,221
939
37,813
118,420
7,964
40.155
10,624
161,376
11,563
58,466
121,613
18,892
150,281
14.798
53,273
107,710
21,284
2b
2c
2d
20,653
3,193
10,928
TOTAL INCOME
286
371910
347 346
EXPENDITURE
Church activities
Raising funds
Governance costs
Other resources expended
265.058
1,284
690
7,006
33,955
3,395
299,013
4,679
690
7,006
301.864
4.662
825
15,747
3b
3d
TOTAL EXPENDITURE
274 038
NET INCOME I
(EXPENDITURE) BEFORE
INVESTMENT GAINS
12,319
27,550
20,653
60,522
24,248
TRANSFER FROM
ENDOWMENT TO
RESTRICTED FUNDS
1,280
(1,280)
NET TRANSFERS
BETWEEN RESTRICTED
AND UNRESTRICTED
FUNDS
NET GAINSI(LOSSES) ON
INVESTMENTS
5,045
5,045
18,955
NET MOVEMENT IN
FUNDS
12,319
28,830
24,418
65,567
43,203
BALANCES BIFWD AT
I JANUARY 2024 (2023)
88,938
156,812
625,051
870,801
827.598
BALANCES CIFWD AT
31 DECEMBER 2024 (2023)
£185 642 £649 469 £936 368 £870 801
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 2024
Note
2024
2023
FIXED ASSETS
Tangible fixed assets - ocher
7,117
CURRENT ASSETS
Debtors
RGT CBF Investment accounc held by
custodian
St Peter's Cranley Garden5 CBF Invescmenc
accounc held by custodian
Louisa Wilson Legacy CBF Investment
account held by custodian
Cash ac bank and in hand:
RGT deposit fund held by custodian
St Peier s - deposic fund held by custodian
RGT CBF Deposit account
PCC'S CBF Deposic accounr
RGT general account
PCC'S general account
20,795
112,079
26.502
109.571
37.042
36.213
76,351
74,643
230,105
5,282
99,533
212,462
85,162
89,975
218.507
5,282
94,516
124,281
81,364
148,597
968,786
919.476
LIABILITIES: AMOUNTS FALLING
DUE WITHIN ONE YEAR
39,535
48,675
NET CURRENT ASSETS
929,251
870,810
NET ASSETS
936 36
FUNDS
Revaluation reserve - investmenis
Restricced
Unrescricted
Endowment
101,075
185,642
101,257
548,394
96,029
156,812
88,938
529,022
£870 .8LI
Approved by the Parochial Church Council on
and signed on it5 behalf by:
lic 3rifL-
The notes on pages 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 2024
ACCOUNTING POLICIES
The PCC is a public benefit entity within the meaning of FRS102. The financial sratements have been
prepared under the Charitie5 Acc 201 l and in accordance with Church Accounting Regulations 2006
governing the individual accounts of PCCS, and with the Regulacions "true and fair view provisions.
coge(her with FRS102 (2016) as the applicable accounting standards and the 2016 version of the
Statement of Recommended Practice Accounting and Reporcing by Charities (SORP (FRS102)).
The financial statements have been prepared under the historical cost convention. The financial
stacemenrs include all tran5accions, assets and liabilicies for which the PCC is responsible in law.
They do not include the accounts of church groups that owe their affiliation to another body, nor
those that are informal gatherings of church members.
Funds
Unrestricted funds
These represent the remaining income funds of che PCC that are available for spending on the
general purposes of the PCC. including amounts de5ignaied 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 (ruscees, reporc.
Restricted funds
These are income funds that musc be spent on restricted purposes and details of the funds held and
restrictions provided are shown in the notes to Ehe accounts.
Endowment funds
These are resrricced income funds that must be retained as trusc capital either permanently or
subject to a discretionary power to spend capiral as income, and where the use of any income or
other benefic derived from Ehe capital may be rescricced or unrestricted. Full derails of all their
restrictions are shown in the note5 to the accounts.
Incoming Resources
Voluntary income ond capital sources
Colleccions are recognised when received by or on behalf of che PCC.
Planned giving receivable under covenant or Gift Aid is recognised only when received.
Income tax recoverable on covenants or Gift Aid donations is recogni5ed when the income is
received.
Grants and legacies to the PCC are accounced for when the funds are received.
Funds raised by the Autumn Fair and other events are accounted for gross.
Sales of books and magazines from the church book stall are accounted for gross.
15

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES (continued)
Other ordinary income
Rental income from the letcing of church premises is recognised when the rental is due.
Income from investments
Dividends and interesc are accounted for when receivable.
Resources used
Grants
Grants and donations are accounted for when paid over. or when awarded, if rhai award creates a
binding obligation on the PCC.
Activities directly relating to the work of the church
The Diocesan or Parish Share is accounced for when payable. Any quota unpaid ac 31 December is
provided for in Ihese accounts as an operaiional (though not a legal) liabiliry and is shown as a
creditor in the Balance Sheet.
All other expendirure is general recognised when it is incurred and is accounted for gross.
Fixed assets
Consecrated land and benefice property
In so far as consecrated and benefice propercy of any kind is excluded from the statutory definiiion
of "charity by Seccion l 0(2) (a) and (c) of che Charicies Acc 2011 such assets are not capitalised in
the financial stacements.
Movable church furnishings
Movable church furnishings held by rhe vicar and churchwardens on special trust for the PCC and
which require a faculty for disposal are inalienable property. lisced in the church's inventory, which
can be inspected (at any reasonable time). All expendicure incurred during the year on consecrated
or benefice buildings and movable church furnishings, whether maintenance or improvement. is
wricten off as expenditure in the SOFA and separately disclosed.
Tongible fixed assets for use by charity
Equipment used within the church premises is depreciated on a straight line basis over 4 years.
Individual items with a purchase price of £5,000 or less are wrirten off when the asset is acquired.
Investments
Invescmencs quoted on a recognised stock exchange or whose value derives from them are valued at
market value ar the year end. Other invesrment assets are included at PCC'S besc estimate of
market value.
The London Diocesan Fund, as Custodian Trustee, has advised that che bequest under the Will of
Louis3 M Wilson is 2 stipend's trusc fund che terms of which are currently being fulfilled by direcc
payment of the income from the crust to the Diocesan Siipends Fund.
Short term deposits
These are the cash held on deposic eiiher at the bank or in che CBF Church of England Deposic
Fund managed by CCLA Investment Managemenc LEd.
Current assets
Amounrs owing to the PCC at 31 December in respect of fee5, 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 2024
2 INCOME AND ENDOWMENTS
Total Funds
2024
2023
Unrestric¢ed Restricted Endowment
Funds
Fund5
funds
2(a) Voluntary income
Planned giving..
Gift Aid donations
Donations for music scholars and
recitals
Donacion for Fabric Fund
Donacion5 for Garden Project
Donation for Organ Fund
Tax recoverable
Collection (open plate) ac all services
Collections through Goodbox
Collection boxes in church
Sundry donations
Donations, appeals etc
Legacies
73,487
73,487
68,442
1,587
10,500
500
705
2,625
10,500
500
705
19.196
12,224
7,205
521
13,657
6,470
15,000
25,705
500
250
22,405
10,017
6.807
609
8.326
5.633
16,571
12,224
7,205
521
11,213
2.444
6.470
15,000
£121221 £40 155
Unrestricted Restrlcted Endowmènt
Funds
Funds
funds
2024
2023
2(b) Activities for generating funds
Autumn Fair
Parish lunches and Second Half Club
Sale of church history booklet
Sale of Chri5cmas card5 and postcards
10,624
10,624
599
340
14,178
562
599
340
58
£939 £10624
£NIL
£11563
£14798
17

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
2 INCOME AND ENDOWMENTS (cont)
Total funds
2024
2023
Unrestricted Restricted Endowment
Funds
Funds
funds
2(c) Income from investments
Bank and deposic interest
Dividends
Income from St Peter s Trust
Mast income
8,085
16,331
3,042
1,280
24,416
3,042
1,280
29,728
19,445
2,995
1,192
29,641
29,728
£37813
£NIL
£20 653
£58 466
£53 273
2(d) Income from church activities
Fees for weddings and funerals
Fees - payable to London Diocesan Fund
Church hire
Church hall lecting:
Paini Pors
AA and NA meetings
Other hall bookings and car parking
Church flowers
Coffee income
4,486
4,486
3,193
2,310
2,169
1.659
2,590
3,193
2,310
80,901
9,365
19,746
870
742
80,901
9.365
19,746
870
742
73,690
9,305
16,463
950
884
£118420
2(e) Other incoming resources
Recovery of VAT
Recovery of expenses
Recovery of music coscs for special
services
Recovery of floodlighting costs
Recovery of Deanery costs
2,825
5,539
2,825
5,139
8,928
7,885
3,640
6.712
8.928
647
2,400
2,000
2,000
£NIL
£18892
£21284
TOTAL INCOME
£286 357 £64 900
£20 653 £371910 £347 346
18

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
3 EXPENDITURE
Total Funds
2024
2023
Unrestricted Restricted Endowment
Fund5
Funds
funds
3(a) Church activities
Missionary and charitable giving:
Home missions and other Church Sociecies
Bishop of London's Lent Appeal
Other charitable donations..
Learn 2 Love 2 Read
USPG
200
3.633
3,633
3,633
3,633
4,700
4,700
2,100
Beacon House
Earls Court Youth Club
Through rhe Roof
Lyra in Africa
Earls Courc Youch Club - Christmas lunch
Emergency Fund
Other
2,100
700
700
500
706
Ministry,.
Diocesan parish share
Clergy expenses
Vicarage expenses
Clergy cover
Fee5 paid co London Diocesan Fund
Membership of Inclusive Church
Sanctuary
Church insurance
Church running expenses (light, heal, cleaning)
Church maintenance (excluding fees)
Church west end stonework
Church spire, balustrade, lightning conductor
Gas main repair
Garden maintenance and bench
Church vesimenrs
Sunday school and youth group expenses
Second Half Club
Church music
Church music- music scholars
Church music - recitals
Church music - fees recovered for services
Verger'5 salary and coscs
Training
Church history booklet
Administration:
Administrator
Printing and scationery
Other costs
Church Hall - water rates and council tax
Church Hall - running expenses (light, heat. cleaning)
Church Hall maintenance
Church Hall - hall boiler replacement
Depreciation - photocopier
Depreciation - computers
97,080
203
420
145
97,080
203
420
145
3,193
250
120
10,078
20,889
7,062
304
715
93,000
168
1.646
273
1,659
3,193
250
120
10.078
20,529
7,062
304
715
9,498
19,432
9,440
12,935
1,849
9,167
4,594
360
3,209
500
1,444
3,709
1,444
165
180
20,088
2,838
570
8,928
21,364
128
1 ,438
165
180
18,808
927
570
1,135
231
18,064
3,665
200
6,712
19,902
15
1,280
8.928
21,364
128
688
750
36,135
961
6,233
2,820
24,724
4,050
5.068
1,876
496
2,000
38,135
961
6,233
2,820
24,724
4,050
5.068
1.876
496
36,229
1,594
4,474
2.655
20.987
5,318
£265 058 £33 955
£NIL £299 013 £301864
19

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
3 EXPENDITURE (continued)
Total funds
2024
2023
Unrestricted Restricted Endowment
Funds
Funds
funds
3(b) Generation of voluntary income
Expenditure on Autumn Fair
Goodbox charges
Expenditure on flowers
3,395
3,395
597
687
2,905
896
861
597
687
£NIL
3(c) Governance Costs
Independent examiner's remuneration
£690
£NIL
£NIL
690
£82
3(d) Other resources expended
Legal and professional charges:
Architecis, costs: spire repair
Architecrs. coscs: west end repairs
Archirects. costs.. west end proposals
Technical advice.. west end proposals
Fire risk assessmenc
Tree inspection
Technical advice in respecc of organ
Reporc on Craigie Aitchison window
Oiher
1,382
480
991
960
990
816
1,382
480
991
960
990
816
916
2,374
6.948
720
660
2,820
1,309
1 .387
1,387
£NIL
£NIL
£15747
TOTAL EXPENDITURE
£274 038 £37 350
£NIL £311
£323 098
STAFF COSTS
2024
2023
Wages and salaries
Social security costs
Pension coscs
57,200
5,179
2,865
53,088
4,624
2,761
£65 244
£60 473
Less: PAYE credit
£60,065
£55,849
The PCC employed a full-rime verger and Parish Office Manager neither of whom earned £40,000 p.a. or
more.
The Director of Music is self-employed.
No member of the PCC received remuneration or other benefics from the funds of the council.
See Note 13 for details of the PCC'5 Pension Scheme.
20

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
FIXED ASSETS FOR USE BY THE PCC
Tangible fixed assets - other
Parish
offices
Hall,
kstchen,
hall flat
refurbish
ment
Piano
Computers
Telephone
& security
systems
Photo-
copier
Total
GROSS BOOK
VALUE
At l January 2024
Addirions
Disposals
32.681
46,392
8,600
2,518
1,985
(2,518)
4,485
94,676
9,489
(2,518)
7,504
At 31 December 2024
681
46 392 8 600
7504 101647
DEPRECIATION
At l January 2024
Disposals
Charge for the year
32,681
46.392
8,600
2,518
(2,518)
496
4,485
94,676
(2,518)
2,372
1,876
Ar 31 December 2024
496
NET BOOK VALUE
At 31 December 2024
£NIL
£NIL
£NIL
£NIL £5 628
Ac 31 December 2023
£NIL
£NIL
£NIL
£NIL
£NIL
In 1999, The Boltons Security Association paid £20.889 on behalf of some of Ehe residenis of The Boltons
for a scheme to floodlight St Mary's Church.
DEBTORS
2024
2023
Bank and deposit interest due
Dividends due
Prepayments and accrued income
LPWGS - VAT reclaim
6,438
5,865
757
11,995
7.885
11,532
2,825
£20 795
INVESTMENTS
Redcliffe
Gardens
Trust
St Peter's
Cranley
Gardens
Trust
Louisa Wi150n
Legacy
Total
investments
Markec value ac l January 2024
Net gains l (losses)
109,571
2,508
36,213
829
74,643
1.708
220,427
5,045
Market value at 31 December 2024
£112079
£37 042
£76351
£225 472
The total holding for all three trusts at 31 December 2024 was 9,751.14 shares in the CBF Church of
England Investment Fund.
21

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
LIABILITIES: AMOUNTS FALLING DUE
WITHIN ONE YEAR
2024
2023
Deferred income
Accruals of ucility and other costs
Credicors for goods and services:
Goods and services
Charitable donations
Other creditors
19,988
4,688
26,488
4.217
2,920
9,898
2.041
1,782
14,207
1,981
£39 535
£48 675
FUNDS
The restricted funds comprise the Associate Vicar's Stipend Fund, che Bacon Foundarion Fund. the Fabric
Fund. the Organ Fund and Ehe Garden Regeneration Fund.
The Associate Vicar's Stipend Fund, the Fabric Fund, the Organ Fund and che Garden Regeneration Fund
represent funds received from donor5 for expenditure on these specific costs. The Bacon Foundation Fund
contains grants which musc be spent on church projeccs within a time period of cwo years and which musc
be accounted for separately from general funds.
The endowment funds comprise che Sc Mary s Redcliffe Gardens Trust, the St Pecer's Cranley Gardens
Trust and the Louisa Wilson Legacy. Some of the funds are held as permanent endowmenc, but a
proportion is available for distribution in accordance with the terms of che trust deed and the PCC has
been able to call on these funds to assist with major capical expendiiure in the church from time (o time.
The income from che St Peter's Cranley Gardens Trust is received by the PCC and contribute5 to the
expenses of che organ and choir (£1,280, 2023: £1,192). The trust has capical chat is a permanent
endowment, but it is considered a 'small" charity by the Charicy Commission so the PCC may be able to
resolve to remove the permanent restrictions on the capital and spend the capical as if ic were income.
should they believe that che purposes of che charity could be more effectively carried ouc as a result. The
income from the Louisa Wilson Legacy (£2,072, 2023.. £2,040) is paid directly to che Diocesan Stipends
Fund and thus is not shown in these accounts.
10
FUND DETAILS
2024
2023
General Fund (unrestricced)
The Bacon Foundation Fund
Associate Vicar's Stipend Fund
Fabric Fund
Organ Fund
Garden Regeneration Fund
Sc Mary's Redcliffe Gardens Trust
Sc Peter's Cranley Gardens Trust
Louisa Wilson Legacy
Revaluation Reserve - investments
101.257
82,756
29,900
60,781
12,205
88,938
82,756
29,900
32,656
11.500
462,715
31,545
54,134
101,075
443,343
31,545
54,134
96,029
£936 368
£870 801
22

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
SUMMARY OF FUND MOVEMENTS
(a) Unrestricted and restricted funds
Unrestricted
Funds
The Bacon
Foundation
Fund
Associate
Vicar's
Stipend Fund
Fabric Fund Organ Fund
Garden
Regenera-
tion Fund
Total
(Res¢ricted
and
Unrestricted)
Balance at l January
88,938
82,756
29,900
32,656
11.500
245,750
2024
Incoming resources
Resources expended
Invesunent gains
286.357
(274,038)
28.125
705
500
31 5,687
(500) (274,538)
Balance ac 31
December 2024
101257
£82 756
£29 900
£60781
£12205
£NIL
£286 899
(b) Unrestricted, restricted and endowment funds
Unr•strietèd
Funds
Restricted
income and
expenses
Restricted
fund5
(analysed
above)
St Mary's
Redcliffe
Gardens
Trust
St Peter's
Cranley
Gardens
Trust
Louisa
Wilson
Legacy
Total
Funds
Balance at l January 2024
Incoming resources
Resources expended
Investmenr gains l (losses)
Transfer of Si Pecer
income
88,938
286,357
35,570
(274,038) (36,850)
156,812
29,330
(500)
508,913
19,373
41,495
1.280
74,643
870,801
371.910
(311,388)
5,045
2.508
829
(1,280)
1,708
1,280
Balance ac 31 December
2024
£101257
£NIL £185642 £530794 £42324 £76351 £936
SUMMARY OF ASSETS BY FUND
Unrestricted
Funds
Restricted
Funds
Endowment
funds
Total Funds
2024
2023
Fixed assets
Current as5ecs
Current liabilities
7,117
123,536
195,781
(29,396) (10,139)
7,117
968,786
919,476
(39,535) (48,675)
649,469
£101257 £185642
£649 469 £936 368 £870 801
23

NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
13
PENSION SCHEME
Church Workers Pension Fund (CWPF)
Si Mary The Bolions PCC participates in the Pension Builder Scheme section of CWPF for lay staff
(Pension Builder 2014). CWPF is administered by the Church of England Pensions Board, which holds the
CWPF assets separately from those of the Employer and other participating employers.
CWPF has sections:
the Defined Benefits Scheme
the Pension Builder Scheme. which ha5 two subsections;
a deferred annuity section known as Pension Builder Classic. and.
a cash balance section known as Pension Builder 2014.
Pension Builder Scheme
Both seccions of the Pension Builder Scheme are classed a5 defined benefit schemes.
Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a
deferred annuicy during employment based on terms set and reviewed by the Church of England Pensions
Board from time to time. Discretionary increases may also be added, depending on investment returns and
other fattors.
Pension Builder 2014 is a cash balance scheme rhat provides a lump sum which members use to provide
benefits at retirement. Pension concribucions are recorded in an account for each member. Discretionary
bonuses may be added before retirement, depending on investment returns and ocher factors. The accouni,
plus any bonuses declared is payable, unreduced, from age 65.
There is no sub-division of assecs becween employers in each section of the Pension Builder Scheme.
The scheme is considered to be a multi-employer scheme a5 described in Section 28 of FRS 102. This is
because it is noc possible to attribute the Pension Builder Scheme's assecs and liabiliiies to specific
employers and means that concribucions are accounted for as if che Scheme were a defined concribution
scheme. The pensions costs charged co the SOFA in the year are the contributions payable (£1,665. 2023:
£1,561).
A valuation of the Pension Builder Scheme is carried out once every chree years. The most recenc valuation
was carried out as at 31 December 2022.
For the Pension Builder Classic Section, the valuacion reve31ed a surplus of £34.8m on the ongoing
assumpiions used. Ac che most recent annual review effective l January 2025, the Board chose co grant a
discretionary bonus of 6.710 to both pensions not yet in payment and pensions in payment in respect of
service prior ro April 1997; and a bonu5 on pensions in payment in respect of posc April 2006 service so
thai rhe pension increase wa5 2.7Y. (where usually ic would be calculated based on inflation up to 2.51.).
This followed improvements in the funding posiiion over 2024. There is no requiremenc for deficit
payments at the current time.
The nexc valuacion is due as ac 31 December 2025.
For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing
assumption5 used. There is no requirement for deficic payments at the currenc cime.
The legal structure of the scheme is such that if another employer fails, St Mary The Boltons PCC could
become responsible for paying a share of the failed employer's pension liabilicies.
The PCC of St Mary with St Peter & St Jude, West Brompton is a registered chority. no. 11330 73
24