_**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:
- a) Select suitable accounting policies and apply them consistently;
- b) Observe the methods and principles in the Charities SORP;
- c) Make judgements and estimates that are reasonable and prudent;
- d) Follow applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the accounts;
- e) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
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:
- a) examine the accounts under section 145 of the Charities Act;
- b) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
- c) to state whether particular matters have come to my attention.
## **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:
- l the accounting records were not kept in accordance with section 130 of the Charities Act; or
- l the accounts did not accord with the accounting records; or
- l the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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:
- a) Applicable UK accounting standards, including the provisions of section 1A (Small Entities) of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
- b) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102);
- c) The Charities Act 2011.
- d) The Church Accounting Regulations 2006.
## **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.
- Grants payable are payments made to third parties in furtherance of the PCC’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the PCC.
- Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
- Rentals under operating leases are charged as incurred over the term of the lease.
## **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
- No depreciation charged
- 15% WDV
## _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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