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2024-12-31-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 2024

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 2024

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 2024

Status: The Parochial Church Council (PCC) is a corporate body established by the Church of 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
Trustees who held office Ms Bunmi Fawehinmi - From APCM 2024
during the year: Mr Frank Oti - From APCM 2024
Mr David Ross - From APCM 2024
Mr Julian Cass - From APCM 2024
Ms Susan Perriam - To 31 May 2027
Ms Angela Hancock - To 31 May 2027
Mrs Bridget Cass - Elected annually
Mr Jay Harding - Elected annually
Mr Roberto Ishii - To APCM 2024
Mrs Comfort Olaosebikan - To APCM 2024
Dr Helena Lewis-Green - To APCM 2026
Ms Victoria Obaze - To APCM 2026
Ms Jenny Ellwood - To APCM 2026
Mr Anam Peter Islam - To APCM 2025
Mr Keita Kawanabe - To APCM 2027
Ms Eileen Longstaff - To APCM 2024
Chair: The Reverend Trevor F Critchlow
Treasurer: Mrs Bridget Cass
Secretary: Mr Jay Harding
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 2024

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 2024.

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.

During the year the following served as members of the PCC or assisted in the running of church activities.
Clergy: Term of Office:
The Reverend Trevor F Critchlow - Chair Ex-Officio Ex-Officio
Office Holders: Term of Office:
Ms Bunmi Fawehinmi - Churchwarden From APCM 2024
Mr Frank Oti - Churchwarden From APCM 2024
Mr David Ross - Churchwarden From APCM 2024
Mr Julian Cass - Deputy Churchwarden for Fabric From APCM 2024
Ms Susan Perriam – Deanery Synod Representative To 31st May 2027
Ms Angela Hancock – Deanery Synod Representative To 31st May 2027
Mrs Bridget Cass - Treasurer Elected annually
PCC Secretary - Jay Harding Elected annually
Mr Roberto Ishii - Churchwarden To APCM 2024
Mrs Comfort Olaosebikan - Churchwarden To APCM 2024
Members: Term of Office:
Dr Helena Lewis Green To APCM 2026
Ms Victoria Obaze To APCM 2026
Ms Jenny Ellwood To APCM 2026
Mr Anam Peter Islam To APCM 2025
Mr Keita Kawanabe To APCM 2027
Ms Eileen Longstaff To APCM 2024
Employees in post during the year:
Ms Sarah Smith
Jay Harding
Keelan Shorten

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

(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 2024

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 2024

St Dunstan and All Saints Parochial Church Council met four times in 2024 in February, April, September and October.

The PCC met in February 2024 and discussed the coming summer garden party, the need for cakes and community food, the need to organise the dog show better, the design of posters, inviting the residents of York Square and the potential to recruit food bank volunteers and bellringers. Lent, Holy Week and Easter were discussed in detail including providing stations of the cross on Friday, lent lunches, a lent course in people's homes, the rearrangements of the pews and the prayer labyrinth. The PCC also discussed Mothering Sunday, the Easter vigil, the Easter vigil breakfast, the need to alert people to the change of clocks the night before the Easter vigil and the Easter day mass.

The PCC met in April 2024 and thoroughly reviewed the events of Lent, Holy Week and Easter thanks were given to those who provided security for the all night prayer vigil, to Bridget and Julian for the provision of a great breakfast and all those who made Lent and Holy Week possible at Saint Dunstan’s. The PCC also discussed the upcoming visit by parishioners to New York. There was a review of safeguarding arrangements coma a discussion about the food bank and a discussion about children's work during the week and the welcoming of young families and children at the main 10am service.

The PCC met in September 2024 and discussed the appointment of PCC officers and the increasing burden of bureaucracy and responsibilities for PCC members. The PCC considered the new safeguarding dashboard system. The PCC established a development group to look at the Shandy St project and the development of our church building to make it fit for the 21st century. The PCC agreed to the interment of Prebendary Michael Shrewsbury’s ashes in the sanctuary and approved the application for a faculty. The PCC also discussed at length the churches financial position its sources of income and possible savings in expenditure, thanks were expressed to John Holtrop for his work in administering our finances. The PCC also discussed health and safety, a stewardship campaign in advent, children and community work, the Deanery Synod, and the Rector’s report.

The PCC met for the final time in 2024 in October and discussed the preparations for the Thanksgiving dinner and preparations for Advent and Christmas. The PCC reviewed the open house weekend and agreed a list of those being given permission to distribute the sacrament. The PCC received an update from the development group and Bridget updated the PCC about the L&Q grant. The PCC was provided with a financial update. Reports were received from the children and community officer our Deanery Synod representatives and the rector there were also items on the agenda about health and safety, safeguarding and equality and affirmative action.

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 £35,419 and reserves of £1,148,190.

Tangible fixed assets for use by the charity

Fixed assets are set out in Note 10 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 30 May 2025 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 2024

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 2024 to 31 December 2024, 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: 30 May 2025

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 2024

Notes
Income from:
Donations and legacies
3
Other trading activities
4
Investments
5
Endowments
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net gains/(losses) on investments
11
Net income/(expenditure) and movement in
funds
Reconciliation of funds:
Total funds brought forward
14
Total funds carried forward
14		 2024
Total Funds
£
124,940
36,408
12,598
4,141
178,087
331
143,703
144,034
1,366
35,419
1,112,771
1,148,190		 2023
Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Total Funds
£
97,439
36,408
100
-		 £
27,501
-
12,498
-		 £
-
-
-
4,141		 £
113,235
40,522
10,324
2,792
133,947 39,999 4,141 166,873
331
125,610		 -
18,093		 -
-		 -
150,084
125,941 18,093 - 150,084
- 1,366 - 5,055
8,006
765,442		 23,272
268,940		 4,141
78,389		 21,844
1,090,927
773,448 292,212 82,530 1,112,771

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 2024

Notes
Fixed assets:
Tangible assets
10
Investments
11
Total fixed assets
Current assets:
Debtors
12
Cash at bank and In hand
12
Total current assets
13
Net current assets
Total net assets
The funds of the charity:
Endowment funds
Restricted funds
18
Unrestricted funds
14
Revaluation reserve
11
Total charity funds
14
Creditors: amounts falling due within one year		 £
£
£
£
703,145
703,029
62,214
59,885
765,359
762,914
190
116
392,529
369,232
392,719
369,348
9,888
19,491
382,831
349,857
1,148,190
1,112,771
82,530
78,389
292,212
268,940
173,448
165,442
600,000
600,000
1,148,190
1,112,771
31 December 2024
31 December 2023		 £
£
£
£
703,145
703,029
62,214
59,885
765,359
762,914
190
116
392,529
369,232
392,719
369,348
9,888
19,491
382,831
349,857
1,148,190
1,112,771
82,530
78,389
292,212
268,940
173,448
165,442
600,000
600,000
1,148,190
1,112,771
31 December 2024
31 December 2023
£
190
392,529
392,719
9,888		 £
703,029
59,885
762,914
349,857
1,112,771
78,389
268,940
165,442
600,000
1,112,771

Approved by the PCC on 30 May 2025 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 2024

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 property, plant and equipment
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)		 2024
£
12,382
12,598
(720)
(963)
10,915
23,297
369,232
392,529
2024
£
35,419
604
(1,366)
(12,598)
(74)
(9,603)
12,382
2024
£
392,529
392,529		 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

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 2024

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 2024

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 2024

1 Incoming resources

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

Net incoming resources
Net incoming resources are stated after charging:
Independent Examiner's fees - Independent Examination services
Depreciation - owned assets
Trustees' emoluments		 2024
£
1,440
604
-		 2023
£
1,440
534
-

2 Net incoming resources

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.

Income from donations and legacies
Grants: Small
Grants: Mercers
Grants: Coopers
Grants: Pemberton Barnes Trust
Grants: National Lottery Community Fund
Grants: L&Q Housing Trust
Grants: L&Q Community Grants
The Julia and Hans Rausing Trust
Planned giving
Donations
Gift aid tax recovered
Legacies received
Collections
Guides & postcards
Candle boxes		 Unrestricted
£
-
2,000
-
35,000
-
-
-
-
27,492
15,486
-
10,000
3,228
3,539
694
97,439		 Restricted
£
-
-
1,000
-
17,650
2,000
6,104
-
-
150
-
-
597
-
-
27,501		 2024
2023
Total
Total
£
£
-
500
2,000
2,000
1,000
500
35,000
32,000
17,650
-
2,000
-
6,104
-
-
5,200
27,492
30,280
15,636
14,678
-
14,569
10,000
10,000
3,825
2,362
3,539
660
694
486
124,940
113,235
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
£
6,376
1,030
1,416
27,586
36,408
Unrestricted
£
-
100
100
Unrestricted
£
4,141
4,141		 Restricted
£
-
-
-
-
-
Restricted
£
12,498
-
12,498
£
-
-		 2024
Total
£
6,376
1,030
1,416
27,586
36,408
2024
Total
£
12,498
100
12,598
2024
Total
£
4,141
4,141		 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

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 2024

7
Expenditure on raising funds
Fundraising costs
8
Expenditure on charitable activities
Common fund
Staff costs
Assigned fees
Mission giving & donations
Clergy & staff expenses
Art exhibitions
Parish Assistant accommodation
Mission & evangelism
Church running costs
Utilities
Depreciation
Other expenditure
Recoverable pilgrim costs
Children & community
Independent examiner's fees
Bookkeeping		 Unrestricted
£
331
331
Unrestricted
£
32,000
14,225
2,438
535
1,250
538
15,849
-
40,273
11,120
604
187
1,791
269
2,915
1,616
125,610		 Restricted
£
-
-
Restricted
£
-
9,422
-
8,360
-
-
-
-
311
-
-
-
-
-
-
-
18,093		 2024
Total
£
331
331
2024
Total
£
32,000
23,647
2,438
8,895
1,250
538
15,849
-
40,584
11,120
604
187
1,791
269
2,915
1,616
143,703		 2023
Total
£
-
-
2023
Total
£
28,000
25,774
(3,091)
6,016
2,440
401
10,229
32
62,339
10,995
534
-
2,594
100
1,440
2,281
150,084
9
Staff costs
Staff costs (Gross wages + NI contributions + Pensions)		 2024
2023
£
£
23,647
25,774
23,647
25,774

No remuneration was paid to any Trustee or their associates for services as a trustee during the year ended 31 December 2024 nor to 31 December 2023.

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 2024

**10 ** Tangible fixed assets
Tangible 1
Tangible 2
Tangible 3
£
£
£
Cost or valuation
As at 1 January 2024
-
-
-
Additions
-
-
-
As at 31 December 2024
-
-
-
Depreciation
As at 1 January 2024
-
-
-
Charge for the year
-
-
-
As at 31 December 2024
-
-
-
Net book value
As at 31 December 2024
-
-
-
As at 31 December 2023
-
-
-		 Land &
buildings
£
700,000
-
700,000
-
-
-
700,000
700,000		 Plant &
machinery
£
28,670
720
29,390
25,641
604
26,245
3,145
3,029		 Total
£
728,670
720
729,390
25,641
604
26,245
703,145
703,029
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.
11
12
**13 **		 Investments
Market value
As at 1 January 2024
Additions
Revaluations
As at 31 December 2024		 CCLA - Mary
Bastow - #3
£
1,535
-
35
1,570		 CCLA - Mary
Bastow - #2
£
4,691
-
106
4,797		 CCLA - PCC
income
shares -
CB3029475-
001
£
34,354
963
783
36,100		 CCLA - Relief
a/c -
CB3029476-
001
£
19,305
-
442
19,747
2024
£
140
50
190
2024
£
2,342
564
6,982
9,888





 Total
£
59,885
963
1,366
62,214
2023
£
60
56
Number of units Unit Value £
Total £
CCLA - Relief a/c - CB3029476-001 854.00
**23.1227 **		 19,747
CCLA - PCC income shares - CB3029475-001 1,561.26
**23.1227 **		 36,101
CCLA - Mary Bastow - #2 236.30
**20.2933 **		 4,796
CCLA - Mary Bastow - #3 77.33
**20.2933 **		 1,570
Debtors: amounts falling due within one year
Operating debtors
Other debtors
Creditors: amounts falling due within one year
Operating creditors
Credit card
Accruals
Total market value at year end		 62,214
116
2023
£
15,972
450
3,069
19,491

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 2024

14
**15 **		 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
Unrestricted funds
Designated funds
General funds
Revaluation reserve
Total unrestricted funds		 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
Unrestricted funds
Designated funds
General funds
Revaluation reserve
Total unrestricted funds		 Opening
balance
£
78,389
268,940
347,329
103,029
62,413
600,000
765,442
1,112,771
Opening
balance
£
75,597
253,639
329,236
103,563
58,128
600,000
761,691
1,090,927		 Resources
arising
£
4,141
40,000
44,141
-
133,947
-
133,947
178,088
Resources
arising
£
2,792
10,246
13,038
-
153,835
-
153,835
166,873		 Resources
utilised
£
-
(18,094)
(18,094)
(604)
(125,337)
-
(125,941)
(144,035)
Resources
utilised
£
-
-
-
(534)
(149,550)
-
(150,084)
(150,084)		 Other
movements
£
-
1,366
1,366
-
-
-
-
1,366
Other
movements
£
-
5,055
5,055
-
-
-
-
5,055		 Closing
balance
£
82,530
292,212
374,742
102,425
71,023
600,000
773,448
1,148,190
Closing
balance
£
78,389
268,940
347,329
103,029
62,413
600,000
765,442
1,112,771
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.
16
**17 **		 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
£
103,029
103,029
Opening
balance
£
103,563
103,563		 Resources
arising
£
-
-
Resources
arising
£
-
-		 Resources
utilised
£
604
604
Resources
utilised
£
534
534		 Transfers &
adjustments
£
-
-
Transfers &
adjustments
£
-
-		 Closing
balance
£
102,425
102,425
Closing
balance
£
103,029
103,029
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.

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 2024

18 Restricted funds: current period
Investments - CCLA shares
Food Bank
London Diocese Lent Appeal
Mary Bastow Charity
St Matthew Hall Trust
Preservation Trust
Restoration & Development fund
Rector Drewett Bequest
Relief Fund
19 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
£
56,765
-
237
7,544
70,167
47,571
24,078
8,263
5,889
220,516
Opening
balance
£
48,424
56,765
237
3,705
70,167
42,256
24,078
8,005
-
253,639		 Incoming
resources
£
-
27,501
-
173
-
9,084
-
440
2,801
40,000
Incoming
resources
£
-
-
-
3,315
-
5,315
-
258
1,358
10,246		 Resources
expended
£
-
17,974
-
60
-
-
-
-
60
18,094
Resources
expended
£
-
-
-
-
-
-
-
-
-
-		 Transfers &
adjustments
£
-
-
-
141
-
-
-
-
1,225
1,366
Transfers &
adjustments
£
-
-
-
524
-
-
-
-
4,531
5,055		 Closing
balance
£
56,765
9,527
237
7,798
70,167
56,655
24,078
8,703
9,855
243,788
Closing
balance
£
48,424
56,765
237
7,544
70,167
47,571
24,078
8,263
5,889
268,940

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.
Investments - CCLA shares These are CCLA shares made up from 5 different former accounts and charity investments.
Food Bank Funds to support the Food Bank.
London Diocese Lent Appeal Special collection during Lent for charities designated by the Diocese of London.
Mary Bastow Charity Funds for supporting assistant clergy at St Dunstan.
St Matthew Hall Trust Funds for maintenance of buildings and general religious purposes.
Preservation Trust Funds forpreservation 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.
20 Transfers between funds: current period
Designated to general
21 Transfers between funds: prior period
Designated to general		 General
funds
604
604
General
funds
534
534		 Designated
funds
(604)
(604)
Designated
funds
(534)
(534)		 Restricted
funds
-
-
Restricted
funds
-
-		 Endowment
funds
-
-
Endowment
funds
-
-		 Total
-
-
Total
-
-

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 2024

22 Net assets attributable to funds:
current period
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds
23 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
Revaluation
reserve
£
600,000
-
-
600,000		 General
funds
£
(3,421)
84,332
(9,888)
71,023
General
funds
£
-
81,904
(19,491)
62,413		 Designated
funds
£
102,425
-
-
102,425
Designated
funds
£
103,029
-
-
103,029		 Restricted
funds
£
62,214
229,998
-
292,212
Restricted
funds
£
59,885
209,055
-
268,940		 Endowment
funds
£
4,141
78,389
-
82,530
Endowment
funds
£
-
78,389
-
78,389		 Total
£
765,359
392,719
(9,888)
1,148,190
Total
£
762,914
369,348
(19,491)
1,112,771

24 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.

25 Post balance sheet events

There were no significant post balance sheet events.

26 Contingent liabilities

The charity had no material contingent liabilities at 31 December 2024 nor at 31 December 2023.

27 Related parties

During the year the members of the PCC and their related parties made aggregate donations of £3,556 (2023: £9,706).

28 Gifts in kind and volunteers

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

Page 18