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2023-12-31-accounts

Charity number: 1133322

Parish of St Dunstan and All Saints, Stepney

(A Parochial Church Council registered as a charity, number: 1133322)

Financial Statements

and Trustees' Report

for the year ended 31 December 2023

AT Parish of St Dunstan and All Saints, Stepney

(A Parochial Church Council registered as a charity, number: 1133322)

Index to the Financial Statements for the year ended 31 December 2023

Page
Index to the Financial Statements 2
Charity Information 3
Trustees' Report 4 - 5
Statement of Trustees' Responsibilities 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Statement of Financial Position 9
Statement of Cash Flows 10
Accounting Policies 11 - 12
Notes to the Accounts 13 - 18

Page 2

AT Parish of St Dunstan and All Saints, Stepney (A Parochial Church Council registered as a charity, number: 1133322)

Charity Information

for the year ended 31 December 2023

Status: The Parochial Church Council (PCC) is a corporate body established by the Church of
England. It is constituted and governed by the Parochial Church Councils (Powers) Measure
1956 (as amended) and the Church Representation Rules (2011). The members of the PCC
are its trustees under charity law and are referred to as such throughout this report.
Charity name: Parish of St Dunstan and All Saints, Stepney
Charity registration number: 1133322
Registered office: St Dunstan and All Saints Church
Stepney High Street
London
E1 0NR
Operations address: St Dunstan and All Saints Rectory
Rectory Square
London
E1 3NQ
Chair: The Reverend Trevor F Critchlow
Vice chair: Mr Julian Cass
Treasurer: Mrs Bridget Cass
Secretary: Mrs Angela Hancock
Churchwardens: Bunmi Bunmi Fawehinmi
Roberto Ishii
Comfort Olaosebikan
Deputy churchwarden: Julian Cass
Independent Examiner: Anthony Armstrong FCA
Armstrong & Co
Chartered Accountants & Statutory Auditor
4a Printing House Yard
Hackney Road
London
E2 7PR
Bankers: HSBC plc
465 Bethnal Green Road
London
E2 9QW
0
CCLA Investment Management Ltd
The CBF Church of England Funds
80 Cheapside
London
EC2V 6DZ

Page 3

(A Parochial Church Council registered as a charity, number: 1133322)

AT Parish of St Dunstan and All Saints, Stepney

Trustees' Report

for the year ended 31 December 2023

The Trustees of the Parish of St Dunstan and All Saints, Stepney present their report together with the financial statements for the year ended 31 December 2023.

Reference and administrative information

St Dunstan and All Saints is situated in Stepney, London. It is part of the Stepney Area in the Church of England Diocese of London. The address of the church is: St Dunstan and All Saints, Stepney High Street, London, E1 0NR. The correspondence address is: Rectory Square, London, E1 3NQ.

The Parochial Church Council of the Ecclesiastical Parish of St Dunstan and All Saints, Stepney became a registered charity on 16 December 2009, number 1133322.

Legal foundation of the PCC

The Parochial Church Councils (Powers) Measure 1956 as amended, defines the principal functions and purpose of the PCC which is the responsibility of co-operating with the incumbent (Rector) in promoting the mission of St Dunstan’s in its parish.

Membership

Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.

During the year the following served as members of the PCC or assisted in the running of church activities.

Clergy:

The Reverend Trevor F Critchlow - Chair Ex-Officio

Term of Office: Ex-Officio

Office Holders:

Ms Bunmi Fawehinmi - Churchwarden Mr Roberto Ishii - Churchwarden Mrs Comfort Olaosebikan - Churchwarden Mr Julian Cass - Deputy Churchwarden for Fabric Susan Perriam – Deanery Synod Representative Ms Angela Hancock – Deanery Synod Representative Mrs Bridget Cass - Treasurer PCC Secretary - Angela Hancock PCC Secretary - Jay Harding

Members:

Eileen Longstaff Victoria Obaze Jenny Ellwood Anam Peter Islam Lawrence McLaren Helena Lewis Green

Term of Office:

Ends APCM 2024 Ends APCM 2024 Ends APCM 2024 Co-opted Ends APCM 2024 Ends APCM 2024 Ends APCM 2024 To September 2023 From September 2023

Term of Office:

Ends APCM 2024 Ends APCM 2024 Ends APCM 2024 Ends APCM 2025 Stood down Oct 2023 Elected Oct 2023

Paid Staff in Attendance to Advise

Ms Sarah Smith, Children and Community Worker Felix Trimbos, Rhodri Dowland-Owen

Structure, governance and management

The method of appointment of PCC members is set out in the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC for 3 years. 12 members are generally elected.

The PCC is a corporate body established by the Church of England and operates under the Parochial Church Council Powers Measure. It is responsible for implementing policies and strategies which have been approved by the PCC and progressing organisational objectives. It meets approximately every six weeks (with a break over the summer period) and receives financial and operational reports.

Page 4

AT Parish of St Dunstan and All Saints, Stepney

(A Parochial Church Council registered as a charity, number: 1133322)

Trustees' Report

for the year ended 31 December 2023

Objectives and activities

St Dunstan and All Saint's PCC has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

Business of the PCC in 2023

St Dunstan and All Saints Parochial Church Council met four times in 2023 in February, April, October and December.

In February 23 the PCC discussed our CCTV policy, a draught complaints policy, a new survey of church members, a policy on the recruitment of ex- offenders, safeguarding training for wardens and PCC members, children's activities that take place in the church, the joining of the Save the Parish organisation and the post visitation letter from the Archdeacon. The PCC also received reports from the Community and Children's Worker from the Deanery Synod Representatives and from the Rector.

In April 23 the PCC discussed the APCM reports and accounts, the Coronation Big Lunch, the Patronal Festival, Father Stephen Morris visit to Saint Dunstan's, there was a further discussion about joining Save the Parish, a discussion about ministry in schools and cleaning the church kitchen. The PCC also received reports from the Children and Communities Worker, the Deanery Synod Representatives and the Rector. In addition the PCC discussed the recurring items, placed permanently on the agenda of every PCC, of Health and Safety, Safeguarding and Equality and Affirmative action.

In October 23 the PCC discussed the Accounts for 2022, a Stewardship Campaign planned for Advent, planning for Christmas, Children's Work and the Parish Clark, Planning for Thanksgiving, the Parish Audit, the next step in the Development Programme, and 100 Shandy St. The PCC also received reports from the Children and Communities Worker, the Deanery Synod Representatives, and the Rector.

In December 23 the PCC discussed Living in Love and Faith, plans for the Summer Garden Party in June 24, and St Dunstan’s Charitable Giving 2024. The PCC also discussed the plans for Christmas. Every PCC has ‘Any Other Business’ on the Agenda under which there is ample opportunity to discuss how PCC members think things are going and to raise urgent issues.

Public Benefit

St Dunstan and All Saints, Stepney benefits the public by way of: regular worship that is open to all, the provision of sacred space for personal prayer and contemplation, pastoral work (including the visiting of the sick and the bereaved), teaching Christianity through sermons, courses and small groups, taking school assemblies, promoting the whole mission of the church through its assistance to older people, parents and children, and supporting charities in the UK and overseas.

Financial Review

The results of the period and financial position of the PCC are shown in the annexed financial statements.

The Statement of Financial Activities shows net incoming resources for the year of £21,844 and reserves of £1,112,771.

Tangible fixed assets for use by the charity

Fixed assets are set out in Note 9 to the accounts.

Independent Examiner

The Independent Examiner, Anthony Armstrong FCA of Armstrong & Co, Chartered Accountants and Statutory Auditor, has indicated his willingness to be proposed for re-appointment.

Approved by the PCC on 17 July 2024 and signed on their behalf by:

The Reverend Trevor F Critchlow PCC Chair, Trustee

Page 5

(A Parochial Church Council registered as a charity, number: 1133322)

AT Parish of St Dunstan and All Saints, Stepney

Statement of Trustees' Responsibilities for the year ended 31 December 2023

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are required by law to prepare financial statements for each financial period which give a true and fair view of the financial activities of the charity and of its financial position at the end of that period. In preparing those financial statements the trustees are required to:

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

Page 6

AT Parish of St Dunstan and All Saints, Stepney

(A Parochial Church Council registered as a charity, number: 1133322)

Independent Examiner's Report to the Parochial Church Council of the Parish of St Dunstan and All Saints, Stepney

I report on the accounts of Parish of St Dunstan and All Saints, Stepney for the period from 1 January 2023 to 31 December 2023, which are set out on pages 8 to 18. My report is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 ('the Regulations') and the Charities Act 2011 ( 'the Charities Act' ).

This report is made solely to the charity's trustees as a body in accordance with section 145 of the Charities Act and regulations made under section 154 of that Act. My examination has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the PCC and its members as a body, for my examination, for this report, or for the opinions I have formed.

Respective responsibilities of members of the PCC and the examiner

As described on page 6, as PCC members you are responsible for the preparation of the accounts, and you consider that an audit is not required for this year under the Regulations or under section 144(2) of the Charities Act and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under charity law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Anthony Armstrong FCA of Armstrong & Co Chartered Accountants & Statutory Auditor

Dated: 17 July 2024

4a Printing House Yard Hackney Road London E2 7PR

Page 7

(A Parochial Church Council registered as a charity, number: 1133322)

Parish of St Dunstan and All Saints, Stepney

Statement of Financial Activities

for the year ended 31 December 2023

Notes
Income from:
Donations and legacies
3
Other trading activities
4
Investments
5
Endowments
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net gains/(losses) on investments
10
Net income/(expenditure) and movement in
funds
Reconciliation of funds:
Total funds brought forward
13
Total funds carried forward
13		 2023
2022
Total Funds
Total Funds
£
£
113,235
82,354
40,522
21,844
10,324
4,528
2,792
981
166,873
109,707
150,084
130,468
150,084
130,468
5,055
(7,119)
21,844
(27,880)
1,090,927
1,118,807
1,112,771
1,090,927
Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds
£
113,235
40,522
78
-		 £
-
-
10,246
-		 £
-
-
-
2,792
153,835 10,246 **2,792 **
150,084 - -
150,084 - -
- 5,055 -
3,751
761,691		 15,301
253,639		 2,792
75,597
765,442 268,940 78,389

There are no gains and losses other than those noted above and therefore no separate statement of total recognised gains and losses has been prepared.

The accompanying accounting policies and notes form an integral part of these financial statements.

Page 8

(A Parochial Church Council registered as a charity, number: 1133322)

Parish of St Dunstan and All Saints, Stepney

Statement of Financial Position as at 31 December 2023

Notes
Fixed assets:
Tangible assets
9
Investments
10
Total fixed assets
Current assets:
Debtors
11
Cash at bank and In hand
12
Total current assets
12
Net current assets
Total net assets
The funds of the charity:
Endowment funds
Restricted funds
17
Unrestricted funds
13
Revaluation reserve
10
Total charity funds
13
Creditors: amounts falling due within one year		 £
£
£
£
703,029
703,563
59,883
53,864
762,912
757,427
116
1,095
369,232
349,242
369,348
350,337
19,489
16,837
349,859
333,500
1,112,771
1,090,927
78,389
75,597
268,940
253,639
165,442
161,691
600,000
600,000
1,112,771
1,090,927
31 December 2023
31 December 2022		 £
£
£
£
703,029
703,563
59,883
53,864
762,912
757,427
116
1,095
369,232
349,242
369,348
350,337
19,489
16,837
349,859
333,500
1,112,771
1,090,927
78,389
75,597
268,940
253,639
165,442
161,691
600,000
600,000
1,112,771
1,090,927
31 December 2023
31 December 2022
£
116
369,232
369,348
19,489		 £
703,563
53,864
757,427
333,500
1,090,927
75,597
253,639
161,691
600,000
1,090,927

Approved by the PCC on 17 July 2024 and signed on their behalf by:

The Reverend Trevor F Critchlow PCC Chair, Trustee

The notes on pages 11 to 18 form part of these accounts.

Page 9

(A Parochial Church Council registered as a charity, number: 1133322)

Parish of St Dunstan and All Saints, Stepney

Statement of Cash Flows for the year ended 31 December 2023

Notes
Cash flows from operating activities:
Net cash used in operating activities
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of investments
Net cash provided by investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
2
Cash and cash equivalents at the end of the reporting period
2
Notes to Cash Flow Statement
1
Adjustments for:
Depreciation charges
(Gains)/losses on revaluation of investments
Dividends, interest and rents from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by (used in) operating activities
2 Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
Reconciliation of net income/(expenditure) to net cash flow from
operating activities
Net income/(expenditure) for the reporting period (as per the statement of financial
activities)		 2023
£
10,630
10,324
(964)
9,360
19,990
349,242
369,232
2023
£
21,844
534
(5,055)
(10,324)
979
2,652
10,630
2023
£
369,232
369,232		 2022
£
(21,280)
4,528
(913)
3,615
(17,665)
366,907
349,242
2022
£
(27,880)
628
7,119
(4,528)
14
3,366
(21,280)
2022
£
349,242
349,242

Page 10

(A Parochial Church Council registered as a charity, number: 1133322)

Parish of St Dunstan and All Saints, Stepney

Accounting Policies for the year ended 31 December 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with:

Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

Going concern

There are no material uncertainties about the charity's ability to continue operating and accordingly the accounts have been prepared on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for once the tax reclaim has been applied for. Grant income is recognised on a receivable basis.

The income from trading activities include rental income from the letting of church premises temporarily surplus to requirement, and is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Income from property held for its rental returns is included in Investments when due.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.

Charitable expenditure includes those costs expended in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.

Endowment funds

Endowment funds are restricted funds which are capital in nature. Permanent endowments exist where there is no power to convert the capital into income. The funds can reduce where there are decreases in value, either by losses or depreciation, of assets represented by the funds.

Restricted Funds

Restricted funds are to be used for specified purposes as laid down by the funder. Direct and support expenditure which meets these criteria are identified to the fund together with a fair allocation of other costs.

Page 11

Parish of St Dunstan and All Saints, Stepney

(A Parochial Church Council registered as a charity, number: 1133322)

Accounting Policies for the year ended 31 December 2023

Unrestricted Funds

Unrestricted funds are funds received which have no restrictions placed on their use and are available as general funds.

Designated Funds

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land & buildings Plant & machinery

Consecrated Property and Moveable Church Furnishings

Consecrated land and benefice property such as the church building and vicarage is excluded from the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.

Investments

Investments are shown in the balance sheet at closing market value. Surpluses or deficits on valuation are credited or charged to the SOFA.

Page 12

(A Parochial Church Council registered as a charity, number: 1133322)

F Parish of St Dunstan and All Saints, Stepney

Notes to the Accounts

for the year ended 31 December 2023

1 Incoming resources

The incoming resources and surplus are attributable to the principal activities of the charity.

2 Net incoming resources

Net incoming resources
Net incoming resources are stated after charging:
Independent Examiner's fees - Independent Examination services
Depreciation - owned assets
Trustees' emoluments		 2023
£
1,440
534
-		 2022
£
1,440
628
-

Trustees' emoluments

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All trustees serve in a voluntary capacity and do not receive payment for their services.

3
Income from donations and legacies
Planned giving
Grants
Grants: Mercers
Grants: Coopers
Grants: Pemberton Barnes Trust
Grants: Diocese of London
The Julia and Hans Rausing Trust
Donations
Gift aid tax recovered
Canon Geoffrey White legacy
Collections
Guides & postcards
Candle boxes		 Unrestricted
£
30,280
500
2,000
500
32,000
-
5,200
14,678
14,569
10,000
2,362
660
486
113,235		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2023
2022
Total
Total
£
£
30,280
30,117
500
-
2,000
2,000
500
500
32,000
32,000
-
2,641
5,200
-
14,678
4,457
14,569
-
10,000
-
2,362
8,597
660
1,674
486
368
113,235
82,354
4
Income from other trading activities
Fees retained
Church rent
Other income
Curate's house rent
5
Income from investments
CCLA Investment income
Interest received
6
Income from endowments
Dongola Hill Trust		 Unrestricted
£
1,921
11,486
1,396
25,719
40,522
Unrestricted
£
-
78
78
Unrestricted
£
2,792
2,792		 Restricted
£
-
-
-
-
-
Restricted
£
10,246
-
10,246
£
-
-		 2023
Total
£
1,921
11,486
1,396
25,719
40,522
2023
Total
£
10,246
78
10,324
2023
Total
£
2,792
2,792		 2022
Total
£
3,229
933
1,246
16,436
21,844
2022
Total
£
4,454
74
4,528
2022
Total
£
981
981

Page 13

(A Parochial Church Council registered as a charity, number: 1133322)

F Parish of St Dunstan and All Saints, Stepney

Notes to the Accounts

for the year ended 31 December 2023

7
Expenditure on charitable activities
Common fund
Staff costs
Assigned fees
Charitable contributions
Clergy & staff expenses
Charitable giving
Art exhibitions
Parish Assistant accommodation
Church running costs
Mission & evangelism
Utilities
Depreciation
Other expenditure
Recoverable pilgrim costs
Children & community
Independent examiner's fees
Bookkeeping		 Unrestricted
£
28,000
25,774
(3,091)
5,293
2,440
723
401
10,229
62,339
32
10,995
534
-
2,594
100
1,440
2,281
150,084		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2023
2022
Total
Total
£
£
28,000
24,000
25,774
23,574
(3,091)
1,811
5,293
2,456
2,440
1,209
723
1,077
401
409
10,229
10,250
62,339
50,948
32
100
10,995
7,879
534
628
-
1,073
2,594
1,805
100
242
1,440
1,440
2,281
1,567
150,084
130,468
8
Staff costs
Staff costs (Gross wages + NI contributions + Pensions)		 2023
2022
£
£
25,774
23,574
25,774
23,574

No remuneration was paid to any Trustee or their associates for services as a trustee during the year ended 31 December 2023 nor to 31 December 2022.

9
Tangible fixed assets
Tangible 1
Tangible 2
Tangible 3
£
£
£
Cost or valuation
As at 1 January 2023
-
-
-
As at 31 December 2023
-
-
-
Depreciation
As at 1 January 2023
-
-
-
Charge for the year
-
-
-
As at 31 December 2023
-
-
-
Net book value
As at 31 December 2023
-
-
-
As at 31 December 2022
-
-
-		 Land &
buildings
£
700,000
700,000
-
-
-
700,000
700,000		 Plant &
machinery
£
28,670
28,670
25,107
534
25,641
3,029
3,563		 Total
£
728,670
728,670
25,107
534
25,641
703,029
703,563

The Land & Buildings refers to a two bedroomed terraced house on Arbour Square which houses the assistant curate. It was purchased for £100,000 and is owned by St Dunstan's PCC. The property was revalued in 2014. The valuation was made by the Trustees based on the value of similar properties in the Arbour Square that had been sold in the recent past and the indicative value indicated from other online research.

Page 14

(A Parochial Church Council registered as a charity, number: 1133322)

F Parish of St Dunstan and All Saints, Stepney

Notes to the Accounts

for the year ended 31 December 2023

**10 ** Investments
Market value
As at 1 January 2023
Additions
Revaluations
As at 31 December 2023		 CCLA - Mary
Bastow - #3
1,405
-
129
1,534		 CCLA - Mary
Bastow - #2
4,295
-
395
4,690		 CCLA - PCC
income shares
£
30,519
964
2,871
34,354
Number of units
Unit Value £
Total £
CCLA - Relief a/c 854.00
**22.6053 **		 19,305
CCLA - PCC income shares 1,519.72
**22.6053 **		 34,354
CCLA - Mary Bastow - #2 236.30
**19.845 **		 4,690
CCLA - Mary Bastow - #3 77.33
**19.845 **		 1,534
Total market value at year end
11
12
13
**14 **		 Debtors: amounts falling due within one year
Operating debtors
Other debtors
Prepayments
Creditors: amounts falling due within one year
Operating creditors
Credit card
Accruals
The funds of the charity: current period
Restricted funds
Endowment funds
Restricted income funds
Total restricted funds
Unrestricted funds
Designated funds
General funds
Revaluation reserve
Total unrestricted funds
The funds of the charity: prior period
Restricted funds
Endowment funds
Restricted income funds
Total restricted funds		 Opening
balance
£
75,597
253,639
329,236
103,563
58,128
600,000
761,691
1,090,927
Opening
balance
£
74,616
256,181
330,797		 Resources
arising
£
2,792
10,246
13,038
-
153,835
-
153,835
166,873
Resources
arising
£
981
4,454
5,435		 Resources
utilised
£
-
-
-
(534)
(149,550)
-
(150,084)
(150,084)
Resources
utilised
£
-
-
-		 2023
£
60
56
-
116
2023
£
15,972
450
3,067
19,489
Other
movements
£
-
5,055
5,055
-
-
-
-
5,055
Other
movements
£
-
(6,996)
(6,996)		 2022
£
122
56
917
1,095
2022
£
10,216
465
6,156
16,837
Closing
balance
£
78,389
268,940
347,329
103,029
62,413
600,000
765,442
1,112,771
Closing
balance
£
75,597
253,639
329,236

Page 15

(A Parochial Church Council registered as a charity, number: 1133322)

F Parish of St Dunstan and All Saints, Stepney

Notes to the Accounts

for the year ended 31 December 2023

Unrestricted funds
Designated funds
General funds
Revaluation reserve
Total unrestricted funds		 Unrestricted funds
Designated funds
General funds
Revaluation reserve
Total unrestricted funds		 104,191
83,819
600,000
788,010
1,118,807		 -
104,272
-
104,272
109,707		 (628)
(129,840)
-
(130,468)
(130,468)		 -
(123)
-
(123)
(7,119)		 103,563
58,128
600,000
761,691
1,090,927
Endowment funds The endowment funds are administered in a CBF Church of England Deposit Fund account.
The fund is made up of permanent endowment capital of £13,000, with the balance being
accumulated expendable income. At present, income generated by the fund is being
retained in the fund. In 2015 £30,000 was transferred to the PCC account and used to pay
for major building works. Initially treated as a loan it has now been reflected in the
endowment fund as a utilisation of expendable endowment.
15
**16 **		 Designated funds: current period
Fixed asset funds
Designated funds: prior period
Fixed asset funds		 Designated funds: current period
Fixed asset funds
Designated funds: prior period
Fixed asset funds		 Opening
balance
£
103,563
103,563
Opening
balance
£
104,191
104,191		 Resources
arising
£
-
-
Resources
arising
£
-
-		 Resources
utilised
£
534
534
Resources
utilised
£
628
628		 Transfers &
adjustments
£
-
-
Transfers &
adjustments
£
-
-		 Closing
balance
£
103,029
103,029
Closing
balance
£
103,563
103,563
Fixed asset funds This fund represents the amount of charity funds locked up in freehold land and buildings
and other fixed assets which are needed for operational purposes. The funds are carried at
the net book value of the fixed assets at the balance sheet date, after deducting any
outstanding loans, endowment funds or restricted funds used to finance their acquisition.
17 Restricted funds: current period
St Augustine Mission House Trust
Investments - CCLA shares
London Diocese Lent Appeal
Mary Bastow Charity
St Matthew Hall Trust
Preservation Trust
Restoration & Development fund
Rector Drewett Bequest
Relief Fund		 Opening
balance
£
48,424
56,765
237
3,705
70,167
42,256
24,078
8,005
-
253,639		 Incoming
resources
£
-
-
-
3,315
-
5,315
-
258
1,358
10,246		 Resources
expended
£
-
-
-
-
-
-
-
-
-
-		 Transfers &
adjustments
£
-
-
-
524
-
-
-
-
4,531
5,055		 Closing
balance
£
48,424
56,765
237
7,544
70,167
47,571
24,078
8,263
5,889
268,940

Page 16

(A Parochial Church Council registered as a charity, number: 1133322)

F Parish of St Dunstan and All Saints, Stepney

Notes to the Accounts

for the year ended 31 December 2023

18 Restricted funds: prior period
St Augustine Mission House Trust
Investments - CCLA shares
London Diocese Lent Appeal
Mary Bastow Charity
St Matthew Hall Trust
Preservation Trust
Restoration & Development fund
Rector Drewett Bequest
Relief Fund		 Opening
balance
£
48,424
56,765
237
3,696
70,167
40,103
24,078
7,901
4,808
256,181		 Incoming
resources
£
-
-
-
759
-
2,153
-
104
1,438
4,454		 Resources
expended
£
-
-
-
-
-
-
-
-
-
-		 Transfers &
adjustments
£
-
-
-
(750)
-
-
-
-
(6,246)
(6,996)		 Closing
balance
£
48,424
56,765
237
3,705
70,167
42,256
24,078
8,005
-
253,639

Restricted funds (continued)

Projects financed by restricted funds are supported by unrestricted funding where necessary. This occurs where the funding is in arrears or the incidence of expenditure on the project occurs disproportionately at the beginning of the project compared to the income flows. Where restricted projects end the year with a deficit, this is met by after year-end restricted income or transfers from unrestricted funds.

from unrestricted funds.
St Augustine Mission House Funds for general ecclesiastical purposes.
Investments - CCLA shares These are CCLA shares made up from 5 different former accounts and charity investments.
London Diocese Lent Appeal Special collection during Lent for charities designated by the Diocese of London.
Mary Bastow Charity This was a residue of a fund to provide a curate at St Philip's Church which is now part of St
Dunstan's Parish. St Philip's was closed and is now the medical library of the Royal London
Hospital. The fund is now designated for supporting assistant clergy at St Dunstan.
St Matthew Hall Trust Funds for maintenance of buildings and general religious purposes.
Preservation Trust Funds for preservation of St Dunstan and All Saints Church Stepney.
Restoration & Development fund General Fund for developing new areas of mission, ministry and outreach.
Rector Drewett Bequest At the Rector's discretion for rest and convalescence of women of the Parish of St Dunstan
and All Saints Stepney.
Relief Fund At the Rector's discretion for the relief of poverty and suffering and promotion of the Christian
Faith in the Parish of St Dunstan and all Saints,Stepney.
19 Transfers between funds: current period
Designated to general
20 Transfers between funds: prior period
General to restricted
Designated to general
21 Net assets attributable to funds:
current period
Revaluation
reserve
£
Tangible fixed assets
600,000
Current assets
-
Current liabilities
-
Net assets represented by funds
600,000		 General
funds
534
534
General
funds
(123)
628
505
General
funds
£
-
81,902
(19,489)
62,413		 Designated
funds
(534)
(534)
Designated
funds
(628)
(628)
Designated
funds
£
103,029
-
-
103,029		 Restricted
funds
-
-
Restricted
funds
123
-
123
Restricted
funds
£
59,883
209,057
-
268,940		 Endowment
funds
-
-
Endowment
funds
-
-
-
Endowment
funds
£
-
78,389
-
78,389		 Total
-
-
Total
-
-
-
Total
£
762,912
369,348
(19,489)
1,112,771

Page 17

F Parish of St Dunstan and All Saints, Stepney

(A Parochial Church Council registered as a charity, number: 1133322)

Notes to the Accounts

for the year ended 31 December 2023

22 Net assets attributable to funds:
prior period
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds		 Revaluation
reserve
£
600,000
-
-
600,000		 General
funds
£
1
74,964
(16,837)
58,128		 Designated
funds
£
103,563
-
-
103,563		 Restricted
funds
£
53,863
199,776
-
253,639		 Endowment
funds
Total
£
£
-
757,427
75,597
350,337
-
(16,837)
75,597
1,090,927

23 Taxation

The PCC is a registered charity. Accordingly, it is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects.

24 Post balance sheet events

There were no significant post balance sheet events.

25 Contingent liabilities

The charity had no material contingent liabilities at 31 December 2023 nor at 31 December 2022.

26 Related parties

During the year the members of the PCC and their related parties made aggregate donations of £9,706 (2022: £7,876). Included in the 2023 amount was an individual donation of £5,720 from Eileen Longstaff.

27 Gifts in kind and volunteers

During the year the charity benefited from unpaid work performed by volunteers.

Page 18

Signature Certificate

Reference number: 4GCS7-XUUSX-RJYNC-JUKLB

Signer Timestamp

Signature

Trevor Critchlow

Email: rector@stdunstanstepney.com Shared via link

Sent: 17 Jul 2024 13:15:58 UTC Viewed: 17 Jul 2024 13:18:25 UTC Signed: 17 Jul 2024 14:23:57 UTC

IP address: 51.7.116.110 Location: Tower Hamlets, United Kingdom

Tony Armstrong

Email: tony@armco.co.uk

Sent: 17 Jul 2024 13:15:58 UTC Viewed: 17 Jul 2024 13:15:59 UTC Signed: 17 Jul 2024 15:25:30 UTC Recipient Verification: ✔ Email verified 17 Jul 2024 15:24:51 UTC

IP address: 185.78.8.123 Location: Tower Hamlets, United Kingdom

Document completed by all parties on: 17 Jul 2024 15:25:30 UTC

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